"Another strategic step to dislodge the dollar from its dominance.
By swapping yuan for rubles or pesos, China is putting yuan in the hands of two countries with significant consumer bases. And what are yuan used for besides propping up flailing currencies? Buying Chinese stuff!
Argentina and Russia are both resource exporters. Argentina’s economy pretty much hinges on exporting agricultural products, and also possesses oil and gas, precious and base metals, and bulk commodities. Russia’s economy is oil and gas. China can use the swapped pesos and rubles to buy these valuable and needed commodities from its trading partners."
The World Changes On Monday, December 29, 2014!
"...China has announced the launch of Yaun trading with Russian Rubles, set to begin on Monday, December 29, 2014!
So while the US continues to parade with "destroying" the Russian economy... Russia and China continue to be nudged by the west ever closer monetarily and strategically, until one day... China and Russia will announce a joint currency, one backed by both China's "surprising" gold reserves and Russia's commodity hoard."
*** Two videos in this story.***
So while the US continues to parade with "destroying" the Russian economy... Russia and China continue to be nudged by the west ever closer monetarily and strategically, until one day... China and Russia will announce a joint currency, one backed by both China's "surprising" gold reserves and Russia's commodity hoard."
*** Two videos in this story.***
OPEC ‘not panicking’, will intervene should oil drop to $70
"“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."
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."
Subscribe to:
Posts (Atom)