• Tag Archives Iraq
  • The Integrated Non-USD Platforms

    The many new integrated non-USD platforms devised and constructed by China finally have critical mass. They threaten the King Dollar as global currency reserve. Clearly, the USDollar cannot be displaced in trade and banking without a viable replacement for widespread daily usage. Two years ago, critics could not point to a viable integrated system outside the USD realm. Now they can. The integration of commercial, construction, financial, transaction, investment, and even security systems can finally be described as having critical mass in displacing the USDollar. The King Dollar faces competition of a very real nature. The Jackass has promoted a major theme in the last several months, that of the Dual Universe. At first the USGovt will admit that it cannot fight the non-USD movement globally. To do so with forceful means would involve sanctions against multiple nations, and a war with both Russia & China. Their value together is formidable in halting the financial battles from becoming a global war. The United States prefers to invade and destroy indefensible nations like Libya, Iraq, Ukraine, Syria, and by proxy Yemen. The USMilitary appears formidable against undeveloped nations, seeking to destroy their infra-structure and their entire economies, in pursuit of the common Langley theme of destabilization. In the process, the USMilitary since the Korean War has killed 25 million civilians, a figure receiving increased publicity. The Eastern nations and the opponents to US financial hegemony will not tolerate the abuse any longer. They have been organizing on a massive scale in the last several years. Ironically, the absent stability can be seen in the United States after coming full circle. The deep division of good versus evil, of honest versus corrupt, of renewed development versus endless war, has come to light front and center within numerous important USGovt offices and agencies.
    The shape of the US nation will change with the loss of the USDollar’s status as global currency reserve. The starting point for the global resistance against the King Dollar was 9/11 and the onset of the War on Terror. It has been more aptly described as a war of terror waged by the USGovt as a smokescreen for global narcotics monopoly and tighter control of USD movements. Then later, following the Lehman failure (killjob by JPMorgan and Goldman Sachs) and the installation of the Zero Interest Rate Policy and Quantitative Easing as fixed monetary policies, the community of nations has been objecting fiercely. The zero bound on rates greatly distorted all asset valuations and financial markets. The hyper monetary inflation works to destroy capital in recognized steps. These (ZIRP & QE) are last ditch desperation policies designed to enable much larger liquidity for the insolvent banking structures. Without them, the big US banks would suffer failure. They also provide cover for the amplified relief efforts directed at the multi-$trillion derivative mountain. In no way, can the global tolerate unbridled monetary inflation which undermines the global banking reserves.

    This post was published at GoldSeek on 26 December 2017.


  • Technical Scoop – Weekend Update Nov 5

    Weekly Update
    To the moon, Alice!
    Ralph Kramden, The Honeymooners
    And at the current rate it might not be too long before it’s actually there. The moon, that is. No, not Alice – Bitcoin. Yes, Bitcoin crossed $7,000 this week. It was less than a month ago Bitcoin passed $5,000. The riches are dazzling as Bitcoin is up 640% this year alone. Bitcoin now has a market cap of $100 billion. How much longer before it’s bigger than Amazon or Apple or worth more than the entire gold stock market? But the question continues to beg – is Bitcoin an historic bubble? Until it bursts, the question is strictly academic. And don’t forget, not only is there Bitcoin but there are now over 1,000 other cryptocurrencies. And Bitcoin has forks as well called Bitcoin cash and Bitcoin gold.
    Okay, we are not going to get into a huge discussion of Bitcoin and how it is structured and what blockchains are all about. It is mind boggling enough trying to figure all of that out. We will have further comments on our weekly ‘Bitcoin Watch!’ commentary.
    The stock markets made new all-time highs again this past week. That comes against the backdrop of the terrorist attack in New York City, indictments in the Russia investigation including former top aides of President Donald Trump, and possible brewing trouble in the Mid-East. There is also the escalating crisis in Catalonia in the heart of the EU, ongoing trouble between Kurds and Iraq/Iran/Turkey, and continued moves afoot to lessen the use of the US$ in world trade. As well, a new Fed chairman has been proposed. But all the stock market cares about is the potential to pass the tax bill that could put billions into corporations and the 1% even as it could create deficits estimated at up $1.5 trillion over the next decade.
    Maybe the stock markets are also headed for the moon, albeit at a much slower pace. Still, the records just keep on falling and there seems to be little in the way of stopping it. We may wring our hands over the alleged terrorist attack that killed 8 and injured many more but largely ignore an attack in a Walmart in Colorado that left 3 dead that occurred not long after the NYC attack. And I might add as we prepare this for distribution another attack in some small Texas town in a church that has left multiple fatalities.

    This post was published at GoldSeek on 5 November 2017.


  • NOV 3/POOR JOBS REPORT BUT THAT DID NOT MATTER AS THE CROOKS RAIDED GOLD AND SILVER/COMEX SILVER OI CONTINUES TO RISE WITH ITS LATEST READING OVER 206,000 CONTRACTS/AFTER THE USA FINISHED OFF ISI…

    GOLD: $1268.90 DOWN $8.65
    Silver: $16.85 down 27 cents
    Closing access prices:
    Gold $1270.00
    silver: $16.86
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1300.00 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1280.05
    PREMIUM FIRST FIX: $19.90(premiums getting larger)
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    SECOND SHANGHAI GOLD FIX: $1292.04
    NY GOLD PRICE AT THE EXACT SAME TIME: $1277.00

    This post was published at Harvey Organ Blog on November 3, 2017.


  • Majority Of Americans Say Trump Era Is “Lowest Point In US History”

    How quickly Americans forget…
    According to a recent survey by the American Psychological Association, a majority of Americans believe that we are currently living through the lowest point in US history that they can remember…eclipsing such watershed moments in US history like the Watergate Scandal, the Bush administration’s dishonest justification for a war with Iraq, and – oh yeah – World War II and Vietnam, according to Bloomberg.
    The APA’s eleventh ‘Stress in America’ survey found that 60% of respondents believe the early Trump era is the lowest point in US history, while a slightly larger percentage – 63% – say they are stressed about the nation’s future.
    Almost two-thirds of Americans, or 63 percent, report being stressed about the future of the nation, according to the American Psychological Association’s Eleventh Stress in America survey, conducted in August and released on Wednesday. This worry about the fate of the union tops longstanding stressors such as money (62 percent) and work (61 percent) and also cuts across political proclivities. However, a significantly larger proportion of Democrats (73 percent) reported feeling stress than independents (59 percent) and Republicans (56 percent).

    This post was published at Zero Hedge on Nov 1, 2017.


  • Saudi Rhetoric Sends Oil Prices To Two-Year High

    Comments made by Saudi Arabia’s Crown Prince Mohammed bin Salman (MBS), sent Brent crude to its highest in more than two years (highest since July 2015), above $60 a barrel, Reuters reports. West Texas Intermediate was more impervious to the comments, but it also gained a few cents, to the highest in six months.
    ‘The Saudis keep pressing for an extension of the output-cut deal through next year, so the market is feeding off that and we are seeing signs of tightening out there as a result of the program,’ John Kilduff, a partner at Again Capital, told Bloomberg. At the same time ‘the Iraq-Kurd situation is also getting the attention of the market. The volumes are down out of Ceyhan’

    This post was published at Zero Hedge on Oct 27, 2017.


  • OCT17/ANOTHER RAID BY THE BANKERS KNOCKS GOLD AND SILVER DOWN/KOBE STEEL FRAUD GOES GLOBAL/CHINA BUILDS A SIX LANE HIGHWAY AS THEY ARE READY TO INVADE NORTH KOREA AND TAKE AWAY THEIR NUCLEAR WEAP…

    GOLD: $1284.95 DOWN $17.40
    Silver: $17.02 DOWN 33 cents
    Closing access prices:
    Gold $1285.50
    silver: $17.03
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1303,20 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1293.20
    PREMIUM FIRST FIX: $10.00 (premiums getting larger)
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    SECOND SHANGHAI GOLD FIX: $1301.69
    NY GOLD PRICE AT THE EXACT SAME TIME: $1291.90
    Premium of Shanghai 2nd fix/NY:$9.79(PREMIUMS GETTING LARGER)
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    LONDON FIRST GOLD FIX: 5:30 am est $1289.70
    NY PRICING AT THE EXACT SAME TIME: $1304.10
    LONDON SECOND GOLD FIX 10 AM: $1284.75
    NY PRICING AT THE EXACT SAME TIME. 1299.60
    For comex gold:
    OCTOBER/
    NOTICES FILINGS TODAY FOR OCT CONTRACT MONTH: 1 NOTICE(S) FOR 100 OZ.
    TOTAL NOTICES SO FAR: 2354 FOR 235,400 OZ (7.329TONNES)
    For silver:
    OCTOBER
    166 NOTICES FILED TODAY FOR
    830,000 OZ/
    Total number of notices filed so far this month: 562 for 3,640,000 oz
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    Bitcoin: $5659 bid /$56 79 offer up $171.00

    This post was published at Harvey Organ Blog on October 17, 2017.


  • OCT 16/2017/GOLD AND SILVER FALL ON NEWS THAT TRUMP IS CONSIDERING JOHN TAYLOR AS FED GOVERNOR/KIRKUK FALLS TO IRAQI GOVERNMENT/SPECIAL FORCES LAND IN SOUTH KOREA/BREXIT TALKS GOING NOWHERE

    GOLD: $1302.35 DOWN $1.64
    Silver: $1733 DOWN 6 cents
    Closing access prices:
    Gold $1295.50
    silver: $17.24
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1309,55 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1301,50
    PREMIUM FIRST FIX: $8.05 (premiums getting larger)
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    SECOND SHANGHAI GOLD FIX: $1311.55
    NY GOLD PRICE AT THE EXACT SAME TIME: $1303.50
    Premium of Shanghai 2nd fix/NY:$8.60(PREMIUMS GETTING LARGER)
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    LONDON FIRST GOLD FIX: 5:30 am est $1305.10
    NY PRICING AT THE EXACT SAME TIME: $1304.10
    LONDON SECOND GOLD FIX 10 AM: $1299.60
    NY PRICING AT THE EXACT SAME TIME. 1299.60
    For comex gold:
    OCTOBER/
    NOTICES FILINGS TODAY FOR OCT CONTRACT MONTH: 19NOTICE(S) FOR 1900 OZ.
    TOTAL NOTICES SO FAR: 2353 FOR 235,300 OZ (7.318TONNES)
    For silver:
    OCTOBER
    9 NOTICES FILED TODAY FOR
    45,000 OZ/
    Total number of notices filed so far this month: 562 for 2,810,000 oz
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    Bitcoin: $5659 bid /$56 79 offer up $171.00

    This post was published at Harvey Organ Blog on October 16, 2017.


  • Stocks and Precious Metals Charts – On the Wings of a Dove

    “Interesting that the papers of record regret that they worked the Weinstein story, but never felt like they had enough to actually publish it. Apparently they had a lower standard for the publication of the Iraqi WMDs and Russian hacking stories. It makes one wonder what other big stories they are sitting on, that they can’t quite bring themselves to publish, for whatever reason.”
    Malcolm, a reader
    There was an obvious bear raid in the precious metals today.
    We are nearing peak fraud, at least for this latest iteration of bubbles and busts.
    A good man can speak truths most profoundly with his silences. A wicked man tells lies with his. A sin against the Spirit will not be forgiven.
    What is a sin against the Spirit? What is Truth? Pilate asked that question of Truth itself. as truth stood before him in silence, and then turned and washed his hands of it.

    This post was published at Jesses Crossroads Cafe on 16 OCTOBER 2017.


  • Why Have Investigations of Wall Street Disappeared from Corporate Media?

    Hurricanes, wildfires, the multiple investigations of Russia’s involvement in the 2016 presidential election and the calamity-du-jour in the Trump White House are gobbling up an outsized share of digital and print news pages at corporate media. What’s gone missing is intrepid, in-depth investigations of Wall Street’s latest scam against the public – even at corporate media outlets purporting to focus on Wall Street.
    Consider today’s front page of the Wall Street Journal: there’s an article on health care; central banks and stimulus; Iraqi forces and Kurdish fighters; how Blackstone Group is on the prowl for retail investors; and a curious report on long-haul truckers cooking up jambalaya and Thai peanut pork (you can’t make this stuff up). There is nothing about an investigation of a mega Wall Street bank; the dangers these behemoths continue to pose to taxpayers and the U. S. economy; nothing about Wall Street’s return to its jaded ways that led to the epic financial crash of 2008 – despite the fact that all of this is happening and timely and the public has a right to be reading about it in a paper whose beat is ostensibly Wall Street.
    Rupert Murdoch’s News Corp. bought Dow Jones & Company in late 2007 after a century of ownership by the Bancroft family. The purchase just happened to come at a time when the Federal Reserve had secretly begun to funnel what would end up totaling $16 trillion in cumulative low-cost loans to bail out the Wall Street mega banks and their foreign counterparts.

    This post was published at Wall Street On Parade By Pam Martens and Russ Marte.


  • Bill Blain: “This Time It Really Is Different! The Machines Have Taken Over And They Will Never Sell”

    Submitted by Bill Blain of Mint Partners
    Forget the Known Unknows, its the shocking surprises that are going to get us

    ‘Bubbles don’t grow out of thin air, they have a solid basis in reality. But, reality is distorted by misconception..’ And it’s a bad start to the week as my Bloomberg obliquely gave the finger by refusing to log me on.
    Markets don’t care about my travails. They continue on their unstoppable upward trajectory. (Remember that word – trajectory, often parabolic. Look it up.) Lots of folks warning about complacency, but markets pay no heed. They prefer the global unlimited growth vibe..
    Now, I know I sound like a broken record with my boring repeated warnings the market has gone overly frothy. I could counter with arguments about low volatility and short-tops painting a weakening technical picture. I could make arguments about how the short-term and long term business cycles all converge on weak indicators – I could even give you a lengthy discussion on how the Kondratieff ultra-long cycle says ‘run-away!’ I could refer to volume of money issues, or QE concerns. I could even point you to some astrological stuff…
    Or I could point out what a worrying place the markets are. After reading through all the news this morning it strikes me we’re in thrall to a host of known unknowns.
    If you want to worry, then pick your choice: it’s a delightful smorgasbord of things to go bump from the anniversary of the Hurricane and Crash of 87, the right-wing in Austria, noise about Tax reform in the US, Norte Korea, Kurds vs Iraq/Turkey, Catalunya vs Spain, UK vs Everyone, Trump vs the Universe, and everything in between. (In my own case, tomorrow is exactly a year since the unpleasantness with my primary pump – just doesn’t feel like it’s going to be a lucky week!).

    This post was published at Zero Hedge on Oct 16, 2017.


  • Frontrunning: September 29

    Republican Tax Plan Hits First Hurdle (WSJ) A $6.4 Billion Windfall Awaits Big U. S. Banks in Trump’s Tax Cut (BBG) How Does the Trump Tax Plan Affect You? WSJ Answers Your Questions (WSJ) Twitter suspends Russia-linked accounts, but U. S. senator says response inadequate (Reuters) Flight ban on Iraqi Kurds imposed after independence vote (Reuters) Elon Musk’s New Vision: Anywhere on Earth in Under One Hour (BBG) Kurdistan region refuses to hand over border crossings to Iraqi government: Rudaw (Reuters) Independence Vote Tests Catalonia’s Police Force (WSJ) Uber CEO Khosrowshahi to Visit U. K. to Rescue London License (BBG) Chinese Money Is Still Leaking Into the World’s Housing Markets (BBG) Russia accuses CNN International of violating Russian media law (Reuters) Dems on Trump’s Voter Fraud Panel Push Back (BBG) Schumer says senators close to bipartisan deal on health exchanges (Reuters) VW’s dieselgate bill hits $30 billion after another charge (Reuters) VW Takes New $2.9 Billion Hit From Diesel Scandal (WSJ) Iron Ore Becomes Punch Bag as China Concerns Drive 20% Collapse (BBG) U. S. visas to six Muslim nations drop after Supreme Court backs travel ban (Reuters) P&G CEO Blasts Nelson Peltz as Tensions Mount Over Board Vote (BBG) Lyft IPO puts investors in self-driving cars as well as ride services (Reuters) World’s Biggest Oil Company Promised Expats Idyllic Lifestyle – Then Fire Erupted (WSJ) Chaos and hackers stalk bitcoin investors (Reuters)
    Overnight Media Digest
    WSJ
    – A day after announcing their tax plan, Senate Republicans debated scaling back one of their largest and most controversial proposals to pay for lower tax rates – repeal of the individual deduction for state and local taxes. on.wsj.com/2yJB9qV

    This post was published at Zero Hedge on Sep 29, 2017.


  • SEPT 25/NORTH KOREA TO THE USA: ‘YOU HAVE DECLARED WAR ON US’ AND ‘WE WILL SHOOT DOWN YOUR WARPLANES’/ RUSSIA STATES THAT THE USA KILLED A BIG TIME GENERAL ON THE WESTERN SIDE OF DEIR-EZ-ZOR: IRA…

    GOLD: $1308.45 UP $14.00
    Silver: $17.11 UP 16 CENT(S)
    Closing access prices:
    Gold $1311.25
    silver: $17.17
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1299.46 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1292.68
    PREMIUM FIRST FIX: $6.78 (premiums getting larger)
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    SECOND SHANGHAI GOLD FIX: $1298.02
    NY GOLD PRICE AT THE EXACT SAME TIME: $1293.70
    Premium of Shanghai 2nd fix/NY:$4.32
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    LONDON FIRST GOLD FIX: 5:30 am est $1295.50
    NY PRICING AT THE EXACT SAME TIME: $1293.19 ????
    LONDON SECOND GOLD FIX 10 AM: $1293.30
    NY PRICING AT THE EXACT SAME TIME. 1293.95
    For comex gold:
    SEPTEMBER/
    NOTICES FILINGS TODAY FOR SEPT CONTRACT MONTH: 0 NOTICE(S) FOR NIL OZ.
    TOTAL NOTICES SO FAR: 83 FOR 8300 OZ (0.2581 TONNES)
    For silver:
    SEPTEMBER
    67 NOTICES FILED TODAY FOR
    650,000 OZ/
    Total number of notices filed so far this month: 6,303 for 31,515,000 oz

    This post was published at Harvey Organ Blog on September 25, 2017.


  • JULY 10/GOLD AND SILVER REBOUND/FRIDAY WITNESSES AN ASTRONOMICAL VOLUME OF 165,000 CONTRACTS/ITALY AND GERMANY BECOMES OUTRAGED WITH MIGRANTS: ITALY WANTS TO END IMMIGRATION;GERMANY WITNESSES THE…

    GOLD: $1213.90 UP $3.50
    Silver: $15.71 UP 28 cent(s)
    Closing access prices:
    Gold $1214.00
    silver: $15.66
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1211.73 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1211.50
    PREMIUM FIRST FIX: $10.23
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    SECOND SHANGHAI GOLD FIX: $1215.44
    NY GOLD PRICE AT THE EXACT SAME TIME: $1208.95
    Premium of Shanghai 2nd fix/NY:$6.49
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    LONDON FIRST GOLD FIX: 5:30 am est $1207.55
    NY PRICING AT THE EXACT SAME TIME: $1221.30
    LONDON SECOND GOLD FIX 10 AM: $1211.95
    NY PRICING AT THE EXACT SAME TIME. $1209.75 ???
    For comex gold:
    JULY/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 1 NOTICE(S) FOR 100 OZ.
    TOTAL NOTICES SO FAR: 62 FOR 6200 OZ (.1928 TONNES)
    For silver:
    JULY
    61 NOTICES FILED TODAY FOR
    305,000 OZ/
    Total number of notices filed so far this month: 2323 for 11,615,000 oz

    This post was published at Harvey Organ Blog on July 10, 2017.


  • Is This Wealthy San Fran Suburb Really On The Brink Of Bankruptcy Or Is It A Scam To Raise Taxes

    When you think about municipal bankruptcies, your mind likely conjures images of a decrepit Detroit littered with abandoned auto plants and burned down houses or the rapidly deteriorating city of Chicago with it’s gang wars and neighborhoods that look and feel more like an Iraqi battlefield than a U. S. suburb.
    What you likely don’t think about is an ultra-posh suburb of San Francisco where the median home will run you over $1 million. But according to Bloomberg, the wealthy Northern California city of Moraga could be the next Cali domino to fall.
    ‘We just don’t have enough revenue to take us through the future for many more years before we would really be in some of the situations other cities are, where they’re laying off mass numbers of employees or declaring bankruptcy,’ town manager Robert Priebe said in an interview. In Moraga, where the council discussed establishing a poet laureate position before approving the fiscal distress declaration, lowering headcount isn’t the first priority. The town’s $8.5 million budget this year authorizes about 36 full-time workers. Members instead opted to reduce services such as park maintenance in the community about 20 miles east of San Francisco.
    ‘We’re not willing to hurt the public first,” Priebe said. “We’re not going to lay off half of our employees and have the quality of life of all of our citizens really be impacted.’
    Moraga, where the median family income is $169,000 a year, illustrates an irony for some at the center of Silicon Valley’s latest economic boom. While real estate prices have surged due to the latest tech bubble, the local tax collections haven’t necessarily followed the same trajectory because of Proposition 13, the 1978 ballot measure that keeps homeowners’ tax bills from rising by more than inflation or 2% a year.

    This post was published at Zero Hedge on Jul 7, 2017.


  • Frontrunning: June 30

    Rhetorical question of the day: Twisted Geniuses or Bumbling Ex-Academics? (WSJ) Markets Steady on Quarter’s Last Day (WSJ) Their fortunes enmeshed, Trump and Putin to hold first meeting next week (Reuters) Oil Is Set for Longest Rally of 2017 (BBG) Brightening economy sets euro up for strongest quarter since debt crisis (Reuters) Eurozone Inflation Falls Again in Setback for ECB (WSJ) Trump’s Travel Ban Takes Effect, Setting Strict Entry Limits (WSJ) China says HK joint declaration no longer has meaning (Reuters) U. S. likely to bar Japan investigators from interviewing warship crew, official says (Reuters) Chinese Regulators Play Whac-A-Mole With Banks (WSJ) Trump says he is sending federal help to fight Chicago crime (Reuters) Iraq’s Dilemma: Who Will Lead the Next Big Fight Against ISIS? (WSJ) Shkreli’s Hedge Fund Went From Success to Bust in 31 Minutes (BBG) Ron Dennis to Sell Stakes in McLaren, Step Down as Chairman (BBG) Twitter is looking for ways to let users flag fake news, offensive content (WaPo) Europe’s Car-Leasing Boom Sets Off Alarm Bells (BBG) Google’s Main Strategy Is Under Threat From EU (WSJ) German lawmakers approve same-sex marriage in landmark vote (Reuters) Electric Cars Are Coming Faster Than You Think (BBG) China ‘outraged’ by $1.42 billion planned U. S. arms sales to Taiwan (Reuters) Traders Who Left Banks for Hedge Funds Now Heading Back to Banks (BBG) Heathrow Express Braces for Crossrail to End Airport Monopoly (BBG)

    This post was published at Zero Hedge on Jun 30, 2017.


  • Dramatic Images From 3 Months Of Deadly Anti-Government Protests In Venezuela

    Violence in Venezuela, South America’s crumbling socialists paradise, is intensifying as street clashes between anti-government protesters and government forces enter their third month. At least 67 people have died since the demonstrations began, including 18-year-old Armando Canizales, who the New York Times described as a ‘success story of Venezuela’s state-run music program for the poor.’
    As the country’s economic and humanitarian crises worsen, President Nicolas Maduro is taking steps to consolidate power within the presidency. Maduro is now calling for the formation of a new ‘constituent assembly’ that the country’s pro-government electoral council will vote on in July that will allow him to rewrite the country’s constitution before he faces an election in the fall. These decisions effectively guarantee that the violence will continue, as the opposition cries for his ouster.
    The economic troubles – exacerbated by (but not initiated by) the drop in oil prices that began during the summer of 2014 – have caused inflation to soar above 10,000% as Venezuela’s currency, the bolivar, trades at a black-market rate of nearly 8,000 to the dollar, according to dolartoday.com. Meanwhile, the central bank’s foreign currency reserves have dwindled to $10.6 billion.
    Venezuela, a member of OPEC, has the largest oil reserves of any nation on Earth. But OPEC’s fragile production cuts have failed to push the price of crude above $50 a barrel. On Tuesday, it announced that an unexpected surge in production by Iraq raised the bloc’s total production in May, validating the market’s doubts about an agreement between the bloc and a handful of other oil-exporting countries to extend a production cut that began in December. With global oil supplies near record highs, the hoped-for recovery in oil prices – key to alleviating Venezuela’s acute financial stress – is a long way off.

    This post was published at Zero Hedge on Jun 13, 2017.


  • China’s Next Step to Destroy the Dollar — Byron King

    Saudi’s share of Chinese imports has dropped from over 25% in 2008, to under 15% now. Meanwhile, Saudi competitors Russia, Iran, Iraq and Oman are selling more oil to China.
    Saudi would like to reverse this declining trend of oil-trade with China. However, these kind of major oil flows don’t just happen in a vacuum.
    There’s a good reason why Russian oil sales to China are increasing. As you’ll see in Nomi’s article, trade and financial services are often closely linked. Over the past few years, China has deepened its trading roots with Russia – now, China pays for Russian oil in yuan. Russia, in turn, uses yuan to buy goods from China.
    Beyond trade in goods, within the past six months Russia has set up a branch of the Bank of Russia in Beijing. From there, Russia can use its Chinese yuan to buy gold on the Shanghai Exchange. In a sense, Chinese-Russian oil trade is now backed-up by a ‘gold standard.’
    Looking ahead, Saudi Arabia will find itself more and more locked-out of the Chinese oil market if it won’t sell oil for yuan. But to do this, the Saudis must move away from U.S. dollars – and from petrodollars – if Saudi wants to maintain and increase access to China’s oil market.

    This post was published at Daily Reckoning


  • America’s financial war strategy

    Abstract
    America’s renewed desire to escalate military tensions is a front for America’s continual financial war, this time directed at North Korea, Syria and possibly Iran. This is likely to be the opinion of China’s strategic advisors. We analyse the geopolitics and economics behind America’s war strategy from China’s perspective, concluding that it is entering its final phase. China’s exit plan appears to be to tie the pricing of energy and then other major commodities to gold, returning to the pre-1971 status quo, when the dollar was just a settlement link between commodity prices and gold. Except this time, the dollar itself will be side-lined, so far as China is concerned, which will use the yuan instead for its empire, which will be far larger than that of the US in time, measured by GDP.
    Introduction
    The day President Trump assumed office, it appeared that at last there would be dtente with Russia, leading to America’s withdrawal from unwinnable conflicts and towards a new peaceful agreement between these long-term enemies. However, within the traditional presidential bedding-down period of one hundred days, Trump has gone from his electoral platform of disengagement from foreign ventures to overt aggression in multiple locations.
    Something major has changed his thinking. Trump has committed no less than five acts of foreign aggression in that short time, with a sixth pending. The first was a joint operation with Emirati commandos in Yemen, which backfired, leading to the death of a Navy SEAL. The second was the recent attack on a Syrian airfield, in response to an alleged poison gas attack. The third is the escalation of military threats against North Korea. The fourth is the bombing of a cave network in Eastern Afghanistan. And the fifth is the deployment of more troops to Northern Iraq and Eastern Syria to step up the fight against ISIS. The rhetoric is also being ramped up against America’s long-term bogeyman, Iran.
    The three theatres of war that offer the best prospects for further escalation are Syria, Korea, and Iran. They are in two regions where significant quantities of dollars are owned and invested, offering the potential for capital flight, which should be kept in mind, when reading this article.
    Trump is also seeking congressional approval for an increase in defence spending totalling $54bn, a massive increase which, to put it in perspective, compares with Russia’s total defence budget of $66bn.
    The default assumption is that American military power and weapons technology guarantees battlefield objectives will be achieved. This hasn’t usually been the case since the first Iraq invasion in 1990. Since then, any initial success has been more than outweighed by subsequent failures and unintended consequences. It is because of American-led operations in Iraq, Afghanistan, Libya and Syria that Europe is flooded with refugees, bringing undercover terrorists with them. There can be little doubt that a dispassionate analyst would recommend America abandons military action, so there must be other reasons behind America’s war-mongering.
    China, itself a long-time strategic target for American aggression, is sure to be worried about the escalation of threats to North Korea, and with good reason. In terms of trade, South Korea is now an important trading partner, and for that reason, China will not want to see the situation on the Korean peninsula deteriorate. She will also not want America securing territory which abuts her border. Russia has a small border with North Korea as well and is likely to share that view. However, Russia’s trade is not so much with South Korea, but she is a major arms supplier to the North.

    This post was published at GoldMoney on APRIL 20, 2017.


  • BEWARE THE DOGS OF WAR: IS THE AMERICAN EMPIRE ON THE VERGE OF COLLAPSE?

    Of all the enemies to public liberty war is, perhaps, the most to be dreaded because it comprises and develops the germ of every other. War is the parent of armies; from these proceed debts and taxes… known instruments for bringing the many under the domination of the few…. No nation could preserve its freedom in the midst of continual warfare. – James Madison
    Waging endless wars abroad (in Iraq, Afghanistan, Pakistan and now Syria) isn’t making America – or the rest of the world – any safer, it’s certainly not making America great again, and it’s undeniably digging the U. S. deeper into debt.
    In fact, it’s a wonder the economy hasn’t collapsed yet.
    Indeed, even if we were to put an end to all of the government’s military meddling and bring all of the troops home today, it would take decades to pay down the price of these wars and get the government’s creditors off our backs. Even then, government spending would have to be slashed dramatically and taxes raised.
    You do the math.
    The government is $19 trillion in debt: War spending has ratcheted up the nation’s debt. The debt has now exceeded a staggering $19 trillion and is growing at an alarming rate of $35 million/hour and $2 billion every 24 hours. Yet while defense contractors are getting richer than their wildest dreams, we’re in hock to foreign nations such as Japan and China (our two largest foreign holders at $1.13 trillion and $1.12 trillion respectively).

    This post was published at The Daily Sheeple on APRIL 11, 2017.


  • UK Man Finds $2 Million in Gold in Kuwait-Era Military Tank

    A collector of military tanks from the United Kingdom got a pretty good return on his $37,000 investment when he found gold bars worth more than $2 million dollars inside its fuel tank. Nick Mead is the owner of Tanks-A-Lot, a company that provides tanks and other armored vehicles for driving classes, private events, and movies.

    Mead acquired the Iraqi army tank on eBay in a trade for an Abbot self-propelled howitzer and a British army truck. During the restoration process, he and his mechanic found five gold bars weighing about 12 pounds each tucked away inside the tank’s diesel tank. The gold was most likely looted from Kuwait during the Iraqi invasion in 1990. In 1991, Iraq returned 3,216 gold bars to Kuwait.

    This post was published at Schiffgold on APRIL 11, 2017.