"“At $70 a barrel, there will be panic in OPEC. We have become used to living with $100 a barrel,” said one OPEC official...
OPEC says the oil price will start rising in the second half of 2015 and will reach $177 per barrel within the next 25 years.
"We are concerned but we are not panicking," said Abdullah el-Badri, head of OPEC, said at a news conference for the release of the group's 2014 World Oil Outlook on Thursday.
The organization said it expects the price of crude oil will increase in the middle of 2015 to reach $110 per barrel. The OPEC reference basket will reach $124 per barrel in nominal terms by 2025 and $177 per barrel by 2040."
Will World Governments Confiscate Gold?
"We know that the U.S. government confiscated its citizen’s gold, allowing them to retain only $100 worth of gold, in 1933. Once confiscation was completed, two years later, the U.S. government devalued the dollar against gold from $20.67 to $35.00. This represented a 41% devaluation. Since the devaluation of the dollar was not reflected in foreign exchange markets in 1935, gold continued to be sold at $20 an ounce in countries outside the U.S. while the U.S. was paying $35. Treasury holdings of gold in the U.S. tripled from 6,358 tonnes in 1930 to 8,998 tonnes in 1935 (after the Act), and then to 19,543 metric tonnes of fine gold by 1940. Can it happen again? It certainly can. The U.S. government is in a worse financial situation than it was then."
NASA Admits That Winters are Going to Get Colder…Much Colder
"Climatologist John Casey, a former space shuttle engineer and NASA consultant, thinks that last year’s winter, described by USA Today as “one of the snowiest, coldest, most miserable on record” is going to be a regular occurrence over the coming decades.
Casey asserts that there is mounting evidence that the Earth is getting cooler due to a decline in solar activity. He warns in his latest book, Dark Winter, that a major alteration of global climate has already started and that, at a minimum, it is likely to last 30 years.
ANY COMMENTS AL GORE???
Casey asserts that there is mounting evidence that the Earth is getting cooler due to a decline in solar activity. He warns in his latest book, Dark Winter, that a major alteration of global climate has already started and that, at a minimum, it is likely to last 30 years.
ANY COMMENTS AL GORE???
Banking industry culture fosters cheating, study suggests
"Bank employees cheated more after being asked about work.
The banking industry seems to bring out dishonesty in people, a new study suggests.
A team of Swiss economists tested the honesty of bank employees in a lab game that would pay off in cash if they cheated. When workers at an unnamed bank were asked about their home life, they were about as honest as the general public. But employees who had just been asked about work at the bank cheated 16 per cent more.
"Bank employees are not more dishonest than others," said Ernst Fehr of the University of Zurich, author of the study published Wednesday by the journal Nature. But he said when reminded of their job they become more dishonest, so something about the culture of banking "seems to make them more dishonest.""
The banking industry seems to bring out dishonesty in people, a new study suggests.
A team of Swiss economists tested the honesty of bank employees in a lab game that would pay off in cash if they cheated. When workers at an unnamed bank were asked about their home life, they were about as honest as the general public. But employees who had just been asked about work at the bank cheated 16 per cent more.
"Bank employees are not more dishonest than others," said Ernst Fehr of the University of Zurich, author of the study published Wednesday by the journal Nature. But he said when reminded of their job they become more dishonest, so something about the culture of banking "seems to make them more dishonest.""
Russia ends dollar/euro currency peg, moves to free float
"The Central Bank of Russia’s un-pegging of the ruble from the dollar and euro brings to an end two decades of exchange rate controls. The transition to a free exchange rate means monetary policy in Russia moves to interest rates and inflation targeting.
Experts say, this CBR decision deprives speculators of baselines in the currency market and will stabilize the exchange rate of the ruble against the dollar and euro in the short-term, TASS reports."
Experts say, this CBR decision deprives speculators of baselines in the currency market and will stabilize the exchange rate of the ruble against the dollar and euro in the short-term, TASS reports."
China Likely Bought 10,000 tons of Gold…and if They Did, Here’s Why
"The importance of China (and Russia) having re-balanced is it affords them an insurance policy against a dollar conflagration. If (when) the US runs into its next headwind, the only real answer the US has shown it is willing to entertain is more QE or a like program of monetization. But to be effective, it will need be larger than the previous editions. This dilution of the dollar (and all major currencies will be forced similarly continuing dilution to maintain “competitiveness”) absent US trading partners recycling dollars into Treasury’s (and thus the US diluting into a de-dollarizing world which will need fewer dollars just as the US pushes the “print” button)…this should mean too many dollars and fewer exporters trading utilizing them."
UN to deduct $30m in expenses from Gaza aid
"An official source in the Egyptian foreign ministry has expressed "extreme surprise" over the UN's decision to deduct $30 million in administrative costs from the aid donated for the reconstruction of the Gaza Strip...
... this is not in keeping with humanitarian work."
CLEARLY NOT ANYMORE.
... this is not in keeping with humanitarian work."
UNITED NATIONS UN: is an intergovernmental organization established 24 October 1945, to promote international co-operation.
CLEARLY NOT ANYMORE.
ISIS sells stolen Kirkuk oil at $20 per barrel
"Islamic State militants, who have seized oil fields and refineries in Kirkuk province in the north of Iraq, are selling the hijacked oil on the black market for a price as low as US $20 per barrel..."
PM Fund Manager: US Will Start WW3 to Avoid Admitting Gold Reserves Are Gone
"...the full-on intensity of the recent intervention in the precious metals market is the most obvious signal of time expiring.
China has been accumulating physical gold at a stunning rate and now some research indicates that China’s Central Bank may have accumulated significantly more gold than anyone previously thought.
China has most likely maneuvered itself into owning the world’s largest stock of gold, which is where the U.S. had positioned itself after WW2. China has done this to a large degree by buying massive quantities of western Central Bank gold."
China has been accumulating physical gold at a stunning rate and now some research indicates that China’s Central Bank may have accumulated significantly more gold than anyone previously thought.
China has most likely maneuvered itself into owning the world’s largest stock of gold, which is where the U.S. had positioned itself after WW2. China has done this to a large degree by buying massive quantities of western Central Bank gold."
Gold Is Currency; No Fiat Currency, Including the Dollar, Can Match It
"Ron Paul asks the Bernanke if he thought gold was money. Bernanke almost swallows his tongue, stares blankly for a few seconds and then says, “no.”
Paul then asks why banks hold gold on their balance sheet? Why not diamonds? Bernanke says, “tradition, I suppose.”
So let me get this straight, banks hold billions of dollars of an asset that pays no interest or dividends on their balance sheet for reasons of "tradition". nothing to do with anything else, just tradition. uh, yea. That must be it."
Paul then asks why banks hold gold on their balance sheet? Why not diamonds? Bernanke says, “tradition, I suppose.”
So let me get this straight, banks hold billions of dollars of an asset that pays no interest or dividends on their balance sheet for reasons of "tradition". nothing to do with anything else, just tradition. uh, yea. That must be it."
Global warming data FAKED by government to fit climate change fictions
"... in what might be the largest scientific fraud ever uncovered, NASA and the NOAA have been caught red-handed altering historical temperature data to produce a "climate change narrative" that defies reality.
Because the actual historical temperature record doesn't fit the frenzied, doomsday narrative of global warming being fronted today on the political stage, the data were simply altered using "computer models" and then published as fact."
Because the actual historical temperature record doesn't fit the frenzied, doomsday narrative of global warming being fronted today on the political stage, the data were simply altered using "computer models" and then published as fact."
Canada to establish first Chinese currency hub in North America
"When Stephen Harper was first elected Prime Minister he was adamant that he wouldn’t stop pressing china on human rights but critics say Harper has softened his stance since then and the new currency hub is proof.
Canada and China have signed a reciprocal currency deal that’s expected to dramatically boost exports.
The hub will foster far easier trade between the Canadian dollar and the Chinese yuan, also known as the renminbi. It makes Canada the first country in the Americas to have a deal to trade in the renminbi."
Canada and China have signed a reciprocal currency deal that’s expected to dramatically boost exports.
The hub will foster far easier trade between the Canadian dollar and the Chinese yuan, also known as the renminbi. It makes Canada the first country in the Americas to have a deal to trade in the renminbi."
Iran launches Middle East's ‘biggest' gold plant, plans to double production
"Iran has opened a new gold processing plant, reportedly the biggest in the Middle East, hoping to double its production of precious metals. Using a unique technology, Tehran says it will now mine up to three tons of gold per year.
The new facility is located near one of the country's richest mines, Zareh Shuran. It is located 35 kilometers from the city of Takaab in northwest Iran, in an area where gold, silver, and mercury are extracted.
The gold ore reserves of the Zareh Shuran mine are estimated at 20 million tons."
The new facility is located near one of the country's richest mines, Zareh Shuran. It is located 35 kilometers from the city of Takaab in northwest Iran, in an area where gold, silver, and mercury are extracted.
The gold ore reserves of the Zareh Shuran mine are estimated at 20 million tons."
Gold or Gunfire: Hedging Against the Collapse of the Dollar
"A global economic collapse has become unavoidable, said former chief economist of the Bank of International Settlements (BIS) William White in response to the BIS’ quarterly report in September 2013. Experts forecast that a global economic collapse may occur, overnight, some time at the end of 2014 or in 2015. The fact that private interests are holding the U.S. Federal Reserve and the Central Bank of England as well as the Bretton Woods institutions in a state of capture makes it improbable that the governments of the USA, UK and EU could prevent a collapse."
Twenty-four European banks fail financial stress tests
"European Banking Authority finds €25bn black hole in finances with nine banks in Italy failing the tests.
No UK banks failed although they are being subjected to fresh tests by the Bank of England which will publish the results on 16 December.
In Greece, three banks failed the stress tests set by the European Banking Authority, the overarching European banking regulator, with the same number failing in Cyprus. Ireland’s Permanent TSB failed.
The world’s oldest bank, Italy’s Banca Monte dei Paschi di Siena, was left with a shortfall of more than €2bn to fill in the coming nine months."
No UK banks failed although they are being subjected to fresh tests by the Bank of England which will publish the results on 16 December.
In Greece, three banks failed the stress tests set by the European Banking Authority, the overarching European banking regulator, with the same number failing in Cyprus. Ireland’s Permanent TSB failed.
The world’s oldest bank, Italy’s Banca Monte dei Paschi di Siena, was left with a shortfall of more than €2bn to fill in the coming nine months."
Gold at $7,000 article goes viral in Chinese media
"Although the U.S. Dollar is the reserve currency of the world today,
gold is the key to the new millennium of global trade balances.
The Dollar is losing its reserve status, holdings by Central Banks have
been going down for decades. Meanwhile, Chinese RMB holdings are
skyrocketing across the globe. The U.S. has been running trade deficits
for 30 years, when the Dollars start to go back onshore there will be a
global puke of the financial system and inflation levels the U.S. has not
seen in its entire history.
Are you ready?"
gold is the key to the new millennium of global trade balances.
The Dollar is losing its reserve status, holdings by Central Banks have
been going down for decades. Meanwhile, Chinese RMB holdings are
skyrocketing across the globe. The U.S. has been running trade deficits
for 30 years, when the Dollars start to go back onshore there will be a
global puke of the financial system and inflation levels the U.S. has not
seen in its entire history.
Are you ready?"
Climate change PROVED to be 'nothing but a lie', claims top meteorologist
"THE debate about climate change is finished - because it has been categorically proved NOT to exist."
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