Gold Is Being Reintroduced Into the Monetary System

While the media focuses on political scandals, inflation and coming up with ridiculous acronyms "TACO"... Smart money is tracking a far bigger shift: a gold revaluation is quietly underway. Garrett Goggin, CFA, says this could trigger 100X moves in select miners - and he's identified four with the biggest upside.

New sanctions target Myanmar's military suppliers

DAVID McHUGH and KEN MORITSUGU
October 30, 2024

BANGKOK (AP) -- Opponents of Myanmar's military government on Wednesday welcomed the latest sanctions imposed by the European Union, the U.K. and Canada on individuals and entities supplying aviation fuel and equipment to the army, which has stepped deadly airstrikes.

The army is currently on the defensive against ethnic militias in much of the country as well as hundreds of armed guerrilla groups collectively called the People's Defense Forces, formed to fight to restore democracy after the military seized power from the elected civilian government of Aung San Suu Kyi on Feb. 1, 2021.

Over the past year, the army has suffered unprecedented battlefield defeats, and has been increasingly relying on indiscriminate air and artillery strikes.

"The human rights violations taking place across Myanmar, including airstrikes on civilian infrastructure, by the Myanmar military is unacceptable and the impact on innocent civilians is intolerable," Britain's minister for the Indo-Pacific, Catherine West said in the statement.

She said the sanctions target the suppliers of equipment and aviation fuel to the Myanmar military. "Alongside the EU and Canada, we are today further constraining the military's access to funds, equipment and resources," she said.

Six entities on the sanctions list include Asia Sun Group Company Limited, Swan Energy Company Limited, Myan-Oil Company Limited, Rich Ray Trading Company Limited, Progress Technology Support Company and King Royal Technologies Company Limited.

August 2024 saw the highest number of airstrikes on record by the Myanmar military, killing dozens of civilians, West said.

Canada also separately imposed sanctions on three people including Myanmar's Industry Minister Charlie Than.

Nay Phone Latt, a spokesperson for Myanmar's main opposition group, the National Unity Government, thanked the Western countries for the sanctions and called for similar measures against the remaining companies and key resources that support the military and cooperate with it.

The Institute for Strategy and Policy-Myanmar, an independent think tank group, counted at least 7,186 airstrikes in at least 156 townships since the army takeover. Hundreds of civilians have been reported killed.

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