ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Dec 20 01:52

How the CIA Launched the "Financial Pearl Harbor" Attacks on Russia and Venezuela

Central Intelligence Agency director John Brennan's long familiarity with Saudi Arabia, owing to the time he spent there as the CIA station chief in Riyadh in the 1990s and his knowledge of Saudi oil operations, has paid off. Petroleum industry insiders claim that Brennan's agents inside Saudi Aramco convinced the firm's management and the Saudi Oil Ministry to begin fracking operations in order to stimulate production in Saudi Arabia's oldest oil fields. The Saudis, who are not known for their hands-on knowledge of their nation’s own oil industry, agreed to what became an oil pricing catastrophe which would not only affect Saudi Arabia but oil producing nations around the world from Russia and Venezuela to Nigeria and Indonesia.

Dec 20 01:37

Free Fall of the Ruble: Who’s Behind it? A Ploy of Russia’s Economic Wizards? Whose Chess Game?

Russia has recently announced that in the future she will no longer trade energy in US dollars, but in rubles and currencies of the trading partners. In fact, this rule will apply to all trading. Russia and China are detaching their economies from that of the western financial system.

Dec 20 01:32

Ruble Takedown Exposes Cracks in Putin’s Defense

Putin’s not going to roll over and play dead for these vipers. He’s got to much on the ball for that. He’s going to beat them at their own game, fair and square. He’s going to implement capital controls, restructure the economy away from the west, and aggressively look for ways to deter Washington from spreading its heinous resource war to Central Asia and beyond.

Dec 19 18:25

Just in Time for the Holidays, Another Wall Street Giveaway

Critics worry that extension to implement Volcker Rule is not about giving big banks more time to comply. It's about giving them more time to kill it off entirely. In what is being criticized as yet another capitulation to Wall Street—and just in time for the holidays—the Federal Reserve on Thursday announced it will give investment banks a one-year extension to implement a key aspect of the Dodd/Frank financial reform act, known as the Volcker Rule, enacted in the aftermath of the 2008 economic crisis.

Dec 19 17:30

The Fracturing Energy Bubble Is the New Housing Crash

The global oil price collapse now unfolding is not putting a single dime into the pockets of American households—-the CNBC talking heads to the contrary notwithstanding. What is happening is the vast flood of mispriced debt and capital, which flowed into the energy sector owning to the Fed’s lunatic ZIRP and QE policies, is now rapidly deflating.

That will reduce bubble spending and investment, not add to economic growth. It’s the housing bust all over again.

Dec 19 16:28

Pollution Fears Crush Home Prices Near Fracking Wells

Properties with private wells suffered a loss in value compared to properties connected to a municipal water system, they found, offsetting gains in value from mineral-rights royalties. The loss varied with distance from the nearest shale-gas well. At 1.5 kilometers, properties with private wells sold for about 10 percent less.

...

Properties suffered greater losses when closer to shale-gas wells where hydraulic fracturing had been employed.

Within 1 km of shale gas wells, properties with private drinking water wells dropped 22 percent in value. Properties connected to public water suffered no losses, but also showed no net gains.

Dec 19 16:11

Are we on the brink of an oil crisis? Why cheaper petrol for us means bad news elsewhere

Part of the explanation is that Quicksilver is a shale driller, one of many US companies targeting oil and natural gas trapped in deep underground layers of rock using a process known as hydraulic fracturing – or fracking.

This demands large–scale upfront investment with the result that many companies take out substantial loans and the boys from Fort Worth certainly did that.

According to the financial news service Bloomberg, Quicksilver spent almost 45 per cent of its first–quarter revenues on interest payments.

To help understand how damaging this is it's worth pointing out US oil giant Exxon Mobil last year spent just 0.1 per cent of its revenues of £280billion making interest payments on its corporate debt.

Dec 19 15:58

Google Search - Homes of the Rothschilds

Webmaster's Commentary: 

Just in case you wondered where all your wealth has gone since the creation of private central banks!

Dec 19 15:45

Santa’s real workshop: the town in China that makes the world’s Christmas decorations

There’s red on the ceiling and red on the floor, red dripping from the window sills and red globules splattered across the walls. It looks like the artist Anish Kapoor has been let loose with his wax cannon again. But this, in fact, is what the making of Christmas looks like; this is the very heart of the real Santa’s workshop – thousands of miles from the North Pole, in the Chinese city of Yiwu. Our yuletide myth-making might like to imagine that Christmas is made by rosy-cheeked elves hammering away in a snow-bound log cabin somewhere in the Arctic Circle. But it’s not. The likelihood is that most of those baubles, tinsel and flashing LED lights you’ve draped liberally around your house came from Yiwu, 300km south of Shanghai – where there’s not a (real) pine tree nor (natural) snowflake in sight.

Dec 19 15:33

FLASHBACK - Revealing Pictures From 1972 Rothschild Illuminati Ball

On 12/12/72 Marie-Hélène de Rothschild, member of the most powerful elite family in the world, held a Surrealist Ball at Château de Ferrières, one of the family’s gigantic mansions. While these events are usually extremely secretive, photographs of this particular Ball surfaced on the web. In short, it is a mix of an “Eyes Wide Shut”-style masked ball mixed with a Lady Gaga-style pop video. I’m not even kidding. Indeed, behind the fun and games, these pics reveal the underlying ideology and the mind state of the occult elite – which is apparently also used in the countless MK/Illuminati theme music videos discussed on this site.

Dec 19 11:14

Wisconsin budget faces $824 million hole

Wisconsin’s state budget would be $824 million short just to continue the current level of services.

That is according to a new analysis released Friday by the nonpartisan Legislative Fiscal Bureau.

Webmaster's Commentary: 

Wisconsin estimated their revenues based on the Federal Government's claims of a 5.6% unemployment rate. So they came up short.

Dec 19 10:44

Russia's parliament rushes through bill boosting banking capital

Russia's lower house of parliament hastily approved a draft law on Friday that would give the banking sector a capital boost of up to 1 trillion rubles ($16.5 billion).

Webmaster's Commentary: 

"What? You can't Do that! You can't just create money out of thin air to prop up your banking system! Well, yes, I know that WE do it; but we're the GOOD guys. You're the BAD guys and only GOOD guys are allowed to create money out of thin air. Don't you Russians understand the rules we just made up ... out of thin air?" -- Official White Horse Souse

Dec 19 10:14

Alasdair Macleod - Dumping the Dollar

Dec 19 10:06

A List of BANKS Owned/Controlled by the Rothschild Family

“Who controls the issuance of money controls the government!” -Nathan Meyer Rothschild

“Let me issue and control a nation’s money and I care not who writes the laws.” -Mayer Amschel Rothschild (1744-1812), founder of the House of Rothschild.

Dec 19 08:58

Introducing Bitgold. Bitcoin backed by gold.

Dec 19 08:15

Foreign Bankers Rape Ukraine

If it were not for the fact that the lives of some 45 million people are at stake, Ukrainian national politics could be laughed off as a very sick joke. Any pretenses that the October national elections would bring a semblance of genuine democracy of the sort thousands of ordinary Ukrainians demonstrated for on Maidan Square just one year ago vanished with the announcement by Victoria Nuland’s darling Prime Minister, “Yat” Yatsenyuk, of his new cabinet.

Dec 19 08:14

COSTS OF WAR

Economic Costs Summary: $4.4 Trillion and Counting

Dec 19 08:10

Closing the Gate on GMO and the Criminal Transatlantic Trade Agreement

Julian Rose
Activist Post

“What emerges is an understanding of TTIP as the political project of a transatlantic corporate and political elite which, on the unfounded promise of increased trade and job creation, will attempt to reverse social and environmental regulatory protections, redirect legal rights from citizens to corporations, and consolidate US and European global leadership in a changing world order.” (Seattle to Brussels Network, Kim Bizzarri)

A key element of this Transatlantic Trade Agreement, but only one of hundreds of highly controversial proposals, is the move to deregulate the status currently accorded to imports of GM seeds and plants for cultivating in European soils...

Dec 19 08:05

Obama signs Russia sanctions bill, no plans to use it for now

US President Barack Obama has signed a bill that will allow the White House to levy further economic sanctions on Russia over Ukraine, though the Administration has said it has no immediate plans to introduce them.

Webmaster's Commentary: 

Obama claimed there were going to be no American boots on the ground in this third invasion of Iraq. Then there were going to be boots on the ground but they would not be in combat. Now they are in Combat. Obama will activate the new sanctions against Russia at the moment he thinks they will cause the most damage.

Dec 19 08:03

EU introduces ‘discriminatory’ sanctions on Russia’s Crimea

Having slapped Crimea and Sevastopol with new investment restrictions, the EU stopped short of introducing new sanctions against Russia’s mainland, with political heavyweights including France and Germany cautiously hinting at possible policy reversal.

The EU summit in Brussels, hosted by European Council President Donald Tusk, has abruptly ended half a day earlier than planned with European leaders opting against introducing a new set of sanctions on Moscow. While a number of delegations spoke in favor of new measures, the bloc’s political heavyweights urged caution.

Webmaster's Commentary: 

Mostly because this new World War will be fought in their own countries!

Dec 19 08:02

Frenzied Chinese Stock Buyers Soak Up So Much Liquidity, Central Bank Forced To Intervene, Prevent Seizure

While today's rabid explosion in the S&P500, coupled with a literal break in the NY Fed/Citadel market boosting algo which went haywire in the last moments of trading and pushed the S&P up to 2130 in milliseconds via Kevin Henry's preferred SPY ETF, may be the stuff of market manipulating legends, nothing compares to the far more berserk situation China finds itself in, where a 50% surge in the Shanghai Composite over the past few months - not on improving fundamentals but just the opposite, hopes of massive liquidity injections to halt China's economic hard landing - has found the PBOC scrambling to find a way to, politely, burst the stock market bubble without causing too much pain.

Dec 19 07:24

What Putin is not telling us

The raid on the ruble was supposed to be a checkmate. It’s not. Not when deployed by amateur scrabble players. And don’t forget the Russia-China strategic partnership. The storm may be abating, but the match continues.

Dec 19 07:23

Missouri Attorney General Sues 13 St. Louis County municipalities Over 'Predatory' Traffic Fines

alleging they violate a Missouri law that limits revenue from traffic fines

Dec 19 07:21

3 Things Worth Thinking About

Yesterday, the Federal Reserve released their financial FOMC meeting statement for 2014. The primary focal point by the financial markets has been answering the question of WHEN the Federal Reserve will begin tightening monetary policy by hiking interest rates. Yesterday, did not answer that question as Tim Duy summed up well:

“Policymakers were apparently concerned that removal of ‘considerable time’ by itself would prove to be disruptive. Instead, they opted to both remove it and retain it:

Dec 19 07:12

Junk bonds are going to tell us where the stock market is heading in 2015

Do you want to know if the stock market is going to crash next year? Just keep an eye on junk bonds.

Dec 18 21:14

What New York City Looks Like from the Rooftops of Buildings (40 Pics)

What New York City Looks Like from the Rooftops of Buildings (40 Pics)

Dec 18 17:18

Junk Bonds Are Going To Tell Us Where The Stock Market Is Heading In 2015

Do you want to know if the stock market is going to crash next year? Just keep an eye on junk bonds. Prior to the horrific collapse of stocks in 2008, high yield debt collapsed first.

Dec 18 16:35

US regulators label MetLife as potential financial threat

Major insurer MetLife Inc. says U.S. regulators have labeled it as a potential threat to the financial system, a designation that brings stricter government oversight.

MetLife said Thursday that the Financial Stability Oversight Council has designated the company as “systemically important.” As a result, MetLife must increase its cushion of capital against losses, limit its use of borrowed money and submit to inspections by examiners. MetLife will come under the supervision of the Federal Reserve. Its primary regulator now is New York state.

Dec 18 16:27

What Options at the Federal Reserve: A Global Financial Crisis is Looming?

It is being said today’s FOMC announcement is “the most important of Yellen’s tenure”, I could not disagree more. In the past I have written pieces regarding the potential announcements by the FOMC and come to the conclusion “what can they possibly say?”. This is more true now, Janet Yellen et al cannot “say” anything of substance because they cannot “do” anything of substance. The Fed backed themselves into a corner of their own making several years ago, I believe it is only a matter of time before the markets “test” them.

Dec 18 15:29

Collapsing oil price brings back memories of 1980s Oklahoma oil and gas bubble - Deja vu all over again

As far as I know, the fracking bubble that’s now well into its denouement didn’t have a single ineptly run bank at its center, as the Oklahoma oil and gas bubble did. Most of the other details of that earlier fiasco, though, were present and accounted for. Sky-high fuel prices, check; reserves unprofitable at earlier prices that suddenly looked like a winning deal, check; a media frenzy that oversold the upside and completely ignored the possibility of a downside, check; vast torrents of money and credit from banks and investors too dazzled by the thought of easy riches to ask the obvious questions, check; a flurry of drilling companies that lost money every single quarter but managed to stay in business by heaping up mountains of unpayable debt, check. Pretty much every square on the bingo card marked “ecoomic debacle” has been filled in with a pen dipped in fracking fluid.

Now of course a debacle of the Penn Square variety requires at least one other thing, which is a banking industry so fixated on this quarter’s profits that it can lose track of the minor little fact that lending money to people who can’t pay it back isn’t a business strategy with a long shelf life. I hope none of my readers are under the illusion that this is lacking just now.

Dec 18 13:08

Wealth Gap Between Rich and Poor Americans Highest on Record

The gulf between rich and poor people in America has hit a new record.

An analysis released Wednesday by Pew Research Center finds that the wealth gap between the top 21 percent of families and everyone else is the widest since the Federal Reserve began collecting such income data 30 years ago.

Last year, the median wealth of upper-income families ($639,400) was almost seven times that of middle-income families and nearly 70 times that of lower-income families.

Dec 18 12:07

EU Q3 EPS in one simple picture

Dec 18 11:22

Philadelphia Fed Business Index Slows

After reporting November business conditions were the best in more than two decades, Mid-Atlantic manufacturers curbed their enthusiasm about the economic environment this month.

Dec 18 10:37

Russia crisis leaves banks around the world exposed by the billions

Major banks across Europe, as well as the UK, US, and Japan, are at major risk should the Russian economy default, according to a new study by Capital Economics.

The ING Group in the Netherlands, Raiffeisen Bank in Austria, Societe General in France, UniCredit in Italy, and Commerzbank in Germany, have all faced significant losses in the wake of the ruble crisis. On Tuesday, the currency had its biggest fall in a decade and a half, losing 20 percent, nearing the 27 percent drop it experienced in 1998 that led to a default.

Dec 18 09:38

Complete List of BANKS Owned/Controlled by the Rothschild Family

“Give me control over a nations currency, and I care not who makes its laws” – Baron M.A. Rothschild

Russia is on the list! Let us see if Vlad ignores the central bank or shuts it down.

Qatar: Qatar Central Bank
Romania: National Bank of Romania
Russia: Central Bank of Russia
Rwanda: National Bank of Rwanda
San Marino: Central Bank of the Republic of San Marino

Dec 18 09:31

North Sea oil industry 'close to collapse': Experts' warning that oil price plunge is not all good news for UK economy

The tumbling oil price has left the UK’s North Sea oil industry ‘close to collapse’ experts warned today

North Sea oil and gas tycoon and government adviser Sir Ian Wood has said around 10 per cent of jobs may go, while Robin Allan, chairman of the independent explorers' association Brindex and Premier Oil executive, said today that at current oil prices it is ‘almost impossible to make money’.

Dec 18 09:21

CPI: I knew it!

Dec 18 09:15

Free Fall of the Ruble – A brilliant ploy of Russian economic Wizards? Who’s chess game?

The world is still hell-bent for hydrocarbon-based energy. Russia is the world’s largest producer of energy. Russia has recently announced that in the future she will no longer trade energy in US dollars, but in rubles and currencies of the trading partners. In fact, this rule will apply to all trading. Russia and China are detaching their economies from that of the West. To confirm this decision, in July 2014 Russia’s Gazprom concluded a 400 billion gas deal with China, and in November this year they signed an additional slightly smaller contract – all to be nominated in rubles and yuan.

Dec 18 09:14

Oil-Wise, Dollar-Foolish

Americans are all giddy about the drop in gas prices because they can’t see economic logic beyond the shadow of its immediate effect on their wallets. Little do they know that much of the nearly 1.2 quadrillion dollars of dodgy derivatives, the liability for which Citigroup masterfully managed to dump on American taxpayers and depositors recently, are riding on high oil prices, which have tanked and look as though they will remain that way for the foreseeable future. It’s almost certain that oil derivatives are soon to follow.

Dec 18 09:12

Is Europe About to Lose the Fight Against GMO’s?

“What emerges is an understanding of TTIP as the political project of a transatlantic corporate and political elite which, on the unfounded promise of increased trade and job creation, will attempt to reverse social and environmental regulatory protections, redirect legal rights from citizens to corporations, and consolidate US and European global leadership in a changing world order.” – (Seattle to Brussels Network, Kim Bizzarri)

Dec 18 08:15

UN claims of asylum seekers’ ‘inhumane’ treatment provoke Dutch ire

The uproar from UN officials came after the central government recently refused to release €15 million in funds for local authorities to provide accommodation and food for those asylum seekers, who have been deemed to lack genuine humanitarian reasons for staying in the Netherlands without a visa

Dec 18 07:51

China sets up new $3bn finance fund for Central and East European countries

At a meeting with the leaders of 16 Central and Eastern European countries (CEE) in the Serbian capital of Belgrade on Tuesday, Chinese Premier Li Keqiang announced a new investment fund of $3 billion to facilitate financing in the cash-strapped countries.

Dec 18 07:35

RadioShack Kept Alive by $25 Billion of Swaps Side Bets

RadioShack Corp. (RSH) is finding an unlikely ally in its efforts to stay out of bankruptcy: credit derivatives traders who amassed more than $25 billion of trades speculating how much longer it can keep paying its bills.

After a 60 percent surge this year, the amount of credit-default swaps tied to RadioShack is 28 times its debt, more than any other U.S. company. When the retailer’s biggest shareholder arranged $585 million of funding in October to help it survive the holidays, much of the money came from hedge funds wagering on the company to avoid default, said people with knowledge of the trading. Those included DW Investment Management and Saba Capital Management, the people said.

Dec 18 07:35

What Is the Gold-Oil Ratio Telling Us?

Dec 18 07:27

Swiss Central Bank Plunges Into NIRP, Sends Deposit Rates Negative, Scrambles Against Safe-Haven Capital Flight

Everyone thought that any major monetary policy surprises and/or capital controls today would come from Putin during his annual press conference. Boy were they wrong: just after 2 am Eastern, none other than the Swiss National Bank joined the ranks of the ECB in scrambling to stem the wave of capital flight, not to mention the cost of money, when it announced it too would start charging customers for the privilege of holding cash in its banks

Dec 18 07:26

Switzerland brings in negative interest rates to keep Swiss franc weaker as Russia mayhem prompts huge influx of cash

The Swiss central bank plans to charge depositors a 'negative' interest rate of -0.25 per cent to discourage spooked investors from using it to shelter their cash.

Money has flooded into Switzerland as market turbulence caused by the Russian rouble collapse and oil price slide has prompted a desperate search for safe havens in recent days.

The Swiss National Bank said it would slash its interest rate on balances of over 10million Swiss francs from January 22 - effectively imposing a charge on depositors wanting to hold francs in a bid to keep its currency artificially weak against the euro.

Dec 18 07:23

There Is Hope In Understanding That A Great Economic Collapse Is Coming

If you were about to take a final exam, would you have more hope or more fear if you didn’t understand any of the questions and you had not prepared for the test at all? I think that virtually all of us have had dreams where we show up for an exam that we have not studied for. Those dreams can be pretty terrifying. And of course if you were ever in such a situation in real life, you probably did very, very poorly on that test.

Dec 18 07:14

There Is Hope In Understanding That A Great Economic Collapse Is Coming

Since 2009, I have published 1,211 articles on the coming economic collapse on my website. Some people assume that I must be filled with worry, bitterness and fear because I am constantly dealing with such deeply disturbing issues.

But that is not the case at all.

Dec 18 07:13

Capital Controls for Russia

Bloomberg writer Leonid Bershidsky, under the headline, "Will Ruble's Rout Force Capital Controls?", wrote yesterday on what he called, "the probability that Russia will introduce capital controls."

He asserts his view that President Vladimir Putin is an "anti-Western, authoritarian" leader, noting that in 1998, a leader he views as having the same traits, Dr. Mahathir Muhammed, President of Malaysia, successfully implemented capital controls and brought his nation out of turmoil. Bershidsky then reviews what he calls, the "recipe" for how capital controls worked in Malaysia.

But the author also reports specifically on Putin's advisers calling for capital controls, and moreover, doing so, because Russia is under political attack from the West. He cites in particular, Sergei Markov, an advisor from a different alignment than well-known economist Sergei Glazyev, who reiterated his own policy proposals today, noted below.

Dec 18 07:08

For-Profit Policing

A bill introduced in the Texas legislature would do just that – giving cops credit card readers, as an adjunct to their radar detectors. Instead of just, license, registration and proof of insurance, please – it’ll be: License, registration, proof of insurance… and Visa or Mastercard, please.

And no, I am not making it up.

The bill is HB 121 and you can read all about it here. It was introduced about a month ago by a – you guessed it – “conservative” Republican. You can always count on “conservative” Republicans to bed down with law enforcement – and rape due process.

Especially if there’s a buck to be made.

Dec 18 07:06

Foreign Bankers Rape Ukraine

William Engdahl
Activist Post

If it were not for the fact that the lives of some 45 million people are at stake, Ukrainian national politics could be laughed off as a very sick joke. Any pretenses that the October national elections would bring a semblance of genuine democracy of the sort thousands of ordinary Ukrainians demonstrated for on Maidan Square just one year ago vanished with the announcement by Victoria Nuland’s darling Prime Minister, “Yat” Yatsenyuk, of his new cabinet...

Dec 18 06:53

If You Do Not Have Your Assets Outside of the US Yet, What Are You Waiting For?

Jeff Berwick

The trajectory is clear. Painfully clear.

The US government is so beyond bankrupt it isn't even worth belaboring the point. We've spent the last five years here doing so.

What is more important, if you are an American who still has most of your assets inside the US, is that the walls are closing down around you at an unprecedented rate. Nearly daily the proof continues to mount...

Dec 17 19:53

NYPD opens counterterrorism unit in Israel

“The best police department in the world”, reads a sign hung at the new NYPD office. However, it looks as if New York taxpayers may be footing the bill.

Dec 17 19:00

$4.20 Per Pound: Price of Ground Beef Climbs to Another Record

The average price of a pound of ground beef climbed to another record high — $4.201 per pound — in the United States in November, according to data released today by the Bureau of Labor Statistics (BLS).

Dec 17 17:21

Obama’s Rogue Agenda

snip: Obama is thirdworldizing America. He’s banana republicanizing it. He’s turning it into a dystopian backwater. A race to the bottom reflects official policy.

Administration policy prioritizes wealth, power and privileged interests. It lets vital popular needs go begging. Obama’s operated this way throughout his tenure.

He consigned growing millions to poverty, unemployment, underemployment, hunger, homelessness and despair. He’s got more human wrecking in mind.

He wants US resources used for militarism, warmaking, and homeland repression. He wants ordinary people left high and dry.

Dec 17 16:47

US Targeting Hundreds of Millions of Russian Civilians

White House officials are openly expressing happiness with their siege/war tactics that they say are throwing Russia into an economic collapse and are, as a scholar defending the siege notes, “hurting the Russian public’s ability to buy food or heat homes”. This eagerness to starve and freeze children is particularly relevant given the recent publicity of the US’s tactics of starving and freezing innocent detainees as well as people claimed to be “suspects”.

Dec 17 16:44

Freedom to Fascism Part 2 1

Dec 17 16:42

When Banks Become the Lawmakers

Dec 17 16:42

The War on Drugs Born 100 Years Ago

The War on Drugs is 100 years old today. It kills thousands of people, destroys untold number of lives, and wastes hundreds of billions of dollars every year. Plus it prevents us from using three of the most miraculous plants on the planet, even for their “legitimate” uses.

Dec 17 16:18

Saginaw County's Hemlock Semiconductor to shutter massive, $1.2 billion Tennessee plant

It was four years ago when Tennessee lawmakers and residents of an up-and-coming community thought all of the answers to their town's challenges were coming in the form of a $1.2 billion polycrystalline silicon plant.

Thomas Township-based Hemlock Semiconductor had plans to build a massive plant in Clarksville, Tennessee, consisting of as many as 50 buildings on a 1,215-acre site.

It was going to create "amazing opportunities for all people, especially young people," a Clarksville County official said in 2010.

On Wednesday Dec. 17, Hemlock Semiconductor officials announced that its Clarksville site, located roughly 45 minutes northwest of Nashville, is closing permanently because of sustained adverse market conditions created by oversupply of polysilicon and ongoing challenges presented by global trade disputes.

Dec 17 15:46

The Engineered Fall of the Russian Ruble

Saudi Arabia, the most influential member of OPEC, and the United States are working together to destroy the Russian economy and destabilize the country.

Webmaster's Commentary: 

The problem with waging an economic war is how easily it can become a shooting war.

Dec 17 15:20

Dollar Collapse For Dummies

Dec 17 14:44

Central Bankers suppressing Russian economy

Webmaster's Commentary: 

If Putin starts arresting the owners of their Central Bank, the US attack will not be far behind!

Dec 17 14:24

U.S. Declares (Currency) War On Russia

U.S. economic terrorism (i.e. the One Bank’s economic terrorism) has hit a new extreme this week. This crime syndicate has launched what can be termed nothing less than an all-out effort to destroy the economy of Russia.

Its modus operandi is, once again, currency manipulation. What is the quickest/easiest way to destroy an economy? Drive the value of its currency as close to zero as possible. The effect of such a manipulated “devaluation” is a massive explosion in inflation. And the effect of that is to make all Russians much poorer.

The economic destruction caused by this economic terrorism affects Russians, and the Russian economy on a percentage-for-percentage basis. Each percentage lower that the banksters drive the ruble with their criminal manipulation makes Russians, and the Russian economy 1% poorer.

Dec 17 14:02

Gold Repatriation and The Monetary Crisis: Austria, Belgium and The Netherlands Want Their Gold Back

To say that events are now taking place at the speed of light is an understatement. It was just last Monday, I wrote a missive entitled “The Mother of all Bank Runs”. In it I wrote about the German and Dutch repatriations of gold which was then followed by the Belgians beginning discussions on the same topic. As a final speculation, I mentioned that “logically the Austrians would be next”. There was no way you could have told me it would be less than one week until the same news would actually come out of Austria! Unlike the Germans, Dutch and Belgians who have gold held in N.Y., Paris, and London, Austria holds 80% of their 280 tons of gold concentrated in London. http://www.zerohedge.com/news/2014-12-12/breaking-austria-considers-re... This is truly big news for several reasons which we will explore and it certainly brings up a few more questions.

Dec 17 13:39

RUSSIAN BANK RUN COULD BE ‘IN THE CARDS,’ URALSIB CAPITAL SAYS

“A full-blown currency and financial-crisis scenario seems to be unfolding in Russia in what was supposed to a quiet week as we head into the holiday season,” Slava Smolyaninov, deputy head of research, wrote in an e-mailed report today. “There is a risk that the economy will come to a sudden stop, along with the banks and the overall financial system. Hence, we may have underestimated the level of financial risk in the event of a full-fledged panic. A bank run could be in the cards.”

Dec 17 11:33

This Is What a Currency Collapse Looks Like: Shopping Frenzy: “We Have A Lot Of Rubles Losing Value Every Second”

It’s a scenario we’ve seen repeated throughout history when a nation’s currency was threatened with destruction and it’s one we may soon witness in America should confidence in the dollar as the world’s reserve currency ever be lost.

Dec 17 11:23

Central Bankers suppressing the Russian economy

Economic hardship is being created by the foreign-controlled Bank of Russia's monetary policies, to spread mass discontent and facilitate a Maidan in 2015 to remove Putin. So claims Evgeny Fedorov, citing the colonialist Central Bank law, established after Washington's victory in the Cold War, and the system of fifth-column levers, methodically operated to steer the revolution.

Dec 17 11:23

Crash the Dollar?

• U.S. interventionism has China, Russia allying to prevent WW3.

“Russia and China are pushing the U.S. into a currency crisis,” squealed The Washington Times on November 18. The article went on to claim that Russia and China have been acting in concert to create a “de-Americanized world” by dethroning the dollar as the international reserve currency. But what the Times failed to mention is that the Russians say they want to collapse the dollar for the sake of peace.

Dec 17 11:09

How Change Is Stymied — Paul Craig Roberts

The Phillips curve illustrated that an increase in employment had to be “paid for” by accepting higher inflation, and a reduction in inflation had to be “paid for” in terms of higher unemployment. The trade-offs between inflation and unemployment were worsening. The dilemma came to a head when Milton Friedman showed that the Phillips curve trade-offs had broken down and that higher inflation now brought higher unemployment.

Dec 17 11:01

Rouble vs. Dollar Games - From a Perspective of a Russian Businessman

The task is simple - we need to drop the rouble to the bottom, and then buy all the roubles that we can, giving away the dollars that are no longer needed and not guaranteed by anything. This will help concentrate all of the roubles inside the country and to assign their price independently, while holding and releasing more money to the market.

Dec 17 10:57

EU: Greek Defiance on Debt Would Be 'Suicidal'

A refusal by Greece to repay bailout debts would be "suicidal" for the country, the European Union's top finance official said Monday in a clear warning to the country's popular opposition.

EU Finance Commissioner Pierre Moscovici made the remarks after a three-hour meeting with conservative Prime Minister Antonis Samaras.

"The idea of contemplating the possibility not to reimburse a huge debt is suicidal ? it's not possible, you'll be in default and that's what we've been trying to avoid for years," Moscovici said.

Moscovici's two-day visit went ahead despite stalled negotiations between Greece and bailout creditors, and took place ahead of a parliamentary vote that could topple Greece's pro-bailout government this month.

Webmaster's Commentary: 

A memo to EU Finance Commissioner Moscovici: it sure as heck was NOT suicidal when Iceland did it. They repudiated their odious debt, threw the politicians and the banksters responsible for creating their financial mess into prison, and their economy is doing quite well, thank you very much!!

I frankly think it is a GRAND model, sir, and one that the Greeks might well think about emulating.

Dec 17 10:14

Pepe Escobar, Eurasian Integration vs. the Empire of Chaos

Welcome to the new trans-Eurasia choo-choo train. At over 13,000 kilometers, it will regularly traverse the longest freight train route in the world, 40% farther than the legendary Trans-Siberian Railway. Its cargo will cross China from East to West, then Kazakhstan, Russia, Belarus, Poland, Germany, France, and finally Spain.

The Yiwu-Madrid route across Eurasia represents the beginning of a set of game-changing developments. It will be an efficient logistics channel of incredible length. It will represent geopolitics with a human touch, knitting together small traders and huge markets across a vast landmass. It’s already a graphic example of Eurasian integration on the go. And most of all, it’s the first building block on China’s “New Silk Road,” conceivably the project of the new century and undoubtedly the greatest trade story in the world for the next decade.

Webmaster's Commentary: 

What does Chinese government do to get the things it wants economically?!?

It pushes technology, and drives win/win deals.

What does the US government do to get what it wants economically?!/ It wages wars.

And what is wrong with this picture?!?

BLOODY EVERYTHING.

Dec 17 09:36

CRISIS IN RUSSIA: Seven reasons why Obama should’ve nixed the Congressional sanctions

Nothing shows more clearly just how little Americans have learned than their foreign policies. Belligerent, trigger-happy and naive, in recent years the blundering motivation behind them has been compounded by a naked desire to prosecute energy (and other raw materials) imperialism that will satisfy the infinite greed of its dominant neoliberal franchise.

What never ceases to baffle me is the American citizen surprise when, on going abroad (and over 74% of them never do) they discover the profound degree to which US interference in other people’s affairs has made them widely loathed. It is equalled in my experience only by the inability of Germans to understand why they get poor service in Greek restaurants.

Dec 17 09:29

FedEx's stock slumps after profit, sales disappoint

FedEx's stock FDX, -4.71% slumped 3% in premarket trade Wednesday, after the package delivery giant reported fiscal second-quarter profit and sales that missed expectations.

Dec 17 09:21

European stocks slump; ruble gains as central bank steps up defense

European stocks dropped Wednesday, resuming their recent run of losses as investors wrestle with economic and political uncertainty throughout the region.

The Stoxx Europe 600 SXXP, +0.19% fell 0.7% to 326.62, with all major sectors swimming in the red.

In Frankfurt, the DAX 30 index DAX, -0.12% fell 1% to 9,459.54. France’s CAC 40 PX1, +0.61% declined 0.9% to 4,058.65 and the U.K.’s FTSE 100 UKX, +0.11% declined 0.9% to 6,274.87.

At the same time, attention turned once again to Russia’s currency, which advanced against the dollar Wednesday following a report the Russian finance ministry has started to sell foreign currency in an effort to halt the ruble’s slide. The dollar was buying 64.674 rubles USDRUB, -15.46% compared with 67.893 late Tuesday.

Dec 17 08:47

Missing - the 50,000 jobless teens who have dropped off the radar

More than 50,000 people aged 16 to 18 not in education or work have “gone missing” from official statistics and are receiving no support, according to research published today.

It warned that the problem of Neets - young people not in education, employment or training - is much bigger than local authorities realises because tens of thousands of them have “disappeared off the radar”. In London alone, an estimated 15,000 youngsters have “gone missing”.

Dec 17 08:40

16 Important Rules of Survival and Preparedness

by Gaye Levy

Having a survival mindset means you are always ready to take on new challenges, right? Although I fully believe that new challenges are a good thing, it is sometimes downright frustrating to recognize that prep as we do, we are never really ready.

Part of the disconnect from being totally prepared is having the knowledge that we will never be able to prepare for everything. As recently as four years ago, we were preparing for the end of the world as we know it and a global economic collapse. And now? The flavor of the month is a pandemic, a cyber attack, and the potential for another world war...

Dec 17 08:32

Surprise! Guess which currency has stronger fundamentals— the dollar or… ruble?

The US Federal Reserve only has a basic capital ratio of 1.26%. Talk about razor thin. (This is down from 4.5% just a few years ago)

That means if the value of the Fed’s assets declines by only 1.26%, the issuer of the world’s dominant reserve currency becomes insolvent.

Now, what happens to the liabilities of an insolvent entity? They decrease in value. Just like how Greek bonds (the liabilities of the Greek government) collapsed a few years ago.

What are the Fed’s liabilities? Open your wallet. Those green pieces of paper aren’t ‘dollars’. Just look. They have “Federal Reserve Note” (i.e. debt) printed on them.

So the Fed’s pitiful financial condition directly affects the value of the dollar over the long-term.

On the other hand, the Russian central bank’s ratio is 12.5%—literally almost TEN TIMES GREATER than the Fed.

Dec 17 08:22

Upper House plans probe into Central Bank role in ruble crash

Federation Council Chair Valentina Matviyenko has ordered a vote on a parliamentary investigation into the recent activities of the Central Bank and its alleged role in the worst-ever plunge of the ruble rate.

The motion was initiated by Senator Evgeny Tarlo (Tambov Region) who sits in the Upper House committee for economic policy.

“I suggest to start a parliamentary investigation into activities of the Central Bank that has allowed violations of the citizens’ Constitutional rights, including the right for property,” the RIA Novosti quoted Tarlo as saying on Wednesday.

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