Sep 16

- UK Hints At Next Reserve Currency, To Issue Chinese Yuan-Denominated Bond (ZeroHedge, Sep 15, 2014):

Yuanification continues around the world. As The USA attempts to corral its allies in a ‘broad coalition’, an increasing number of people – including domestic economic policy advisors – are shifting away from the USD as primary reserve currency. However, the move by British Chancellor of the Exchequer George Osborne, announced Friday, is likely the most notable yet in the world’s de-dollarization. As Xinhua reports, the British government intend to be the first nation (ex-China) to issue Renminbi denominated bond and to use the proceeds to finance the government’s reserves of foreign currency. Osborne described this dialogue outcome as “a historic moment” and a statement of British confidence in the potential of the RMB to become “the main global reserves currency”.

As Xinhua reports, Continue reading »

Tags: , , , , , , , ,

Sep 13

- China Daily: “Western Sanctions Will Make Moscow Back The Chinese Yuan Against The Dollar” (ZeroHedge, Sep 12, 2014):

Op-Ed posted in China Daily

West’s Antics Pushing Russia closer to China

Putin Xi Sept 2014

The recent NATO summit in Wales, held against the background of the armed conflict in Ukraine, has brought back the Cold War atmosphere to Europe. NATO’s partnership with Russia remains formally suspended. In fact, NATO is treating Russia more as an adversary than a partner. Continue reading »

Tags: , , , , , , ,

Sep 12

Majority Of Chinese Say War With Japan Is Just A Matter Of Time (ZeroHedge, Sep 11, 2014):

Even the escalating cold war (as in European winter cold) between Russia and the west will pale by comparison to what may happen in the far east, if the pent up for generations tensions between China and Japan, which have historically hardly been in a state of “amicable relations”, finally spill over into an all out war. Which, incidentally, is precisely what a majority, or 53% of Chinese respondents, and some 29% of their Japanese peers, expect will happen in the coming years.

 

 

 

Tags: , , , , ,

Sep 11

- What Petrodollar: Russia, China To Create SWIFT Alternative (ZeroHedge, Sep 10, 2014):

If, when in February Victoria Nuland infamously launched a (not so) covert campaign to replace the ruling Ukraine president oblivious to the human casualties, resulting in a civil war in east Ukraine, NATO encroachment along the borders of Russia, and a near-terminal escalation in hostilities between Ukraine, Russian, and various regional NATO members, the US intention was to provoke the Kremlin so hard that the nation with the world’s largest reserves of mineral and energy resources would jettison the US Dollar and in the process begin the unraveling of the USD reserve currency status (as much as Jared Bernstein desires just such an outcome) it succeeded and then some. Because in the end it may have pushed not just Russia into the anti-petrodollar camp… it appears to have forced China in it as well.

According to Itar-Tass, Russia and China are discussing setting up a system of interbank transactions which will become an analogue to International banking transaction system SWIFT, First Deputy Prime Minister Igor Shuvalov told PRIME on Wednesday after negotiations in Beijing.

“Yes, we have discussed and we have approved this idea,” he said. Continue reading »

Tags: , , , , ,

Sep 10

- Russia’s Response To European Capital Sanctions In One Word (ZeroHedge, Sep 9, 2014):

While the West continues to press the “Russia is increasingly isolated” meme, it appears – as we noted ironically previously, that Vladimir Putin is finding plenty of friends… most notably China. While threats of ‘asymmetric’ retaliation over European sanctions may have been enough to worry Europe’s leaders, the slew of news overnight regarding increased cooperation between China and Russia is likely more damaging to Western strategy (and egos).

Not so isolated…

Russia-isolated

h/t @PersonOfAwesome

As overnight news shows… China and Russia are ramping up their cooperation…

First, as Reuters reports, Russia and China pledged on Tuesday to settle more bilateral trade in rouble and yuan and to enhance cooperation between banks, Russia’s First Deputy Prime Minister Igor Shuvalov said, as Moscow seeks to cushion the effects of Western economic sanctionsContinue reading »

Tags: , , , ,

Sep 09

- Here Is Why Europe Just Launched The “Nuclear Option” Against Russia (ZeroHedge, Sep 8, 2014):

Europe’s leaders, we assume under pressure from Washington, appear to be making a big weather-related bet with their taxpayers’ lives this winter.  As they unleash funding sanctions on Russia’s big energy producers, Europe has pumped a record volume of natural gas into underground inventories in an effort to ‘outlast’ Russia and mitigate any Napoleonic “Winter War” scenario. The plan appears to be to starve Russian energy firms of cashflow – as flows to Europe are already plunging – and remove their funding ability, potentially forcing severe hardship on Russia’s key economic drivers. There appears to be 3 potential problems with this plan…

As Bloomberg reports,

Europe’s reliance on Russian natural gas shipments via Ukraine is declining after the region pumped a record volume of the fuel into underground inventories, minimizing the risk of shortages during the coming winter.

20140908_Russia Continue reading »

Tags: , , , , , , , , ,

Sep 09

Physical gold and silver (stored outside the banking system!) will protect your financial assets.

Even more important will be water, food, …, etc.


- On The Brink Of A Major Crisis: “This Will Be A Literal Collapse of the Entire Global Monetary System” (SHFTplan, Sep 6, 2014):

Discussions of the possible collapse of the U.S. dollar often center around how such an event will affect the domestic economy. But the dollar doesn’t just operate inside of a bubble. It is the world’s reserve currency for a reason. Some sixty-six countries world-wide either utilize it as their primary currency or peg their own currencies to its exchange rate. What this means, as noted by Future Money Trends in the micro documentary below, is that if and when the dollar does come under attack the fallout will be everywhere. The collapse will happen simultaneously and affect billions of people worldwide.

This is 33% of the nations of the world all submitting their currency sovereignty to the US Federal Reserve.

If and when the U.S. loses its currency status this will be a literal collapse of the entire global monetary system… A system that is built on lies, fraud and theft.


(Watch at Youtube)

As you might have guessed, when the game is finally up it will wreak havoc across global economies, financial markets and monetary systems. Should that ever happen, those who have failed to exchange their fiat currencies for physical goods of some sort are going to have a rude awakening. Continue reading »

Tags: , , , , , , , , , ,

Sep 04

- Chinese Homebuilders Expand in America as U.S. Auto Loans Hit Record Levels (Liberty Blitzkrieg, Sep 2, 2014):

Just a little tale from the streets of America
Sparkled promises paved with pathos and hysteria
Trenchant, weary native sons
Step back, step back
And see the damage done
Meander to the horizon 
The streets of America

- Bad Religion, Streets of America

Late last week I published a post titled, Your Wall Street Slumlord Arrives in Europe – Goldman and Other Financial Firms Launch “Buy to Rent” in Spain, in which I highlighted the fact that U.S. financial oligarchs had recently turned their sights toward Spanish real estate after feasting on the American market for several years and driving home prices to unaffordable levels for much of the native population.

Interestingly, today I came across an article in the Wall Street Journal that noted Chinese homebuilders are beginning to make a more aggressive push into the U.S. market. One of the main reasons for this phenomenon appears to be: Continue reading »

Tags: , , , , , ,

Sep 03

Recommended.



Mar 25, 2013

“Where do multinationals pay taxes and how much?” Gaining insight from international tax experts, Backlight director Marije Meerman (‘Quants’ & ‘Money & Speed’), takes a look at tax havens, the people who live there and the routes along which tax is avoided globally.

Those routes go by resounding names like ‘Cayman Special’, ‘Double Irish’, and ‘Dutch Sandwich’. A financial world operates in the shadows surrounded by a high level of secrecy. A place where sizeable capital streams travel the world at the speed of light and avoid paying tax. The Tax Free Tour is an economic thriller mapping the systemic risk for governments and citizens alike. Is this the price we have to pay for globalised capitalism?

At the same time, the free online game “Taxodus” by Femke Herregraven is launched. In the game, the player can select the profile of a multinational and look for the global route to pay as little tax as possible.

research: William de Bruijn
camera: Jean Counet
montage: Bart van den Broek
geluid: Tim van Peppen, Benny Jansen, Joris van Ballegoijen
productie: Marie Schutgens
animaties: Bitcaves & Motoko

International Sales for this documentary are handled by NPO Sales: http://www.nposales.com/?s=backlight

Tags: , , , , , , , , ,

Sep 02

Putin in Siberia_0

- What It’s All About: Russia, China Begin Construction Of World’s Largest Gas Pipeline (ZeroHedge, Sep 1, 2014):

If after months of Eurasian axis formation, one still hasn’t realized why in the grand game over Ukraine supremacy – not to mention superpower geopolitics – Europe, and the West, has zero leverage, while Russia has all the trump cards, then today’s latest development in Chinese-Russian cooperation should make it abundantly clear.

Overnight, following a grand ceremony in the Siberian city of Yakutsk, Russia and China officially began the construction of a new gas pipeline linking the countries. The bottom line to Russia – nearly half a trillion after China’s CNPC agreed to buy $400bn in gas from Russia’s Gazprom back in May. In return, Russia will ship 38 billion cubic meters (bcm) of gas annually over a period of 30 years. The 3,968 km pipeline linking gas fields in eastern Siberia to China will be the world’s largest fuel network in the world. Continue reading »

Tags: , , , , , ,

Aug 30

- Kick Russia Out Of SWIFT, UK Demands; But Beware The Retaliation… (ZeroHedge, Aug 29, 2014):

UK Prime Minister David Cameron came out swinging this morning; not only at ISIS but in calling for European leaders to block Russia from the SWIFT banking transaction system. European leaders have already (via unnamed sources) denied any actual new sanctions will take place (though they will be discussing them at the NATO Summit) but – as we have noted previously – this is yet another unintended consequence-driven nail in the coffin of USD hegemony

Bloomberg reports that the U.K. Said to Press EU to Block Russia From Banking Network

The U.K. will press European Union leaders to consider blocking Russian access to the SWIFT banking transaction system under an expansion of sanctions over the conflict in Ukraine, a British government official said. Continue reading »

Tags: , , , , , , ,

Aug 28

xi-jinping-vladimir-putin

- The Nail In The Petrodollar Coffin: Gazprom Begins Accepting Payment For Oil In Ruble, Yuan (ZeroHedge, Aug 27, 2014):

Several months ago, when Russia announced the much anticipated “Holy Grail” energy deal with China, some were disappointed that despite this symbolic agreement meant to break the petrodollar’s stranglehold on the rest of the world, neither Russia nor China announced payment terms to be in anything but dollars. In doing so they admitted that while both nations are eager to move away from a US Dollar reserve currency, neither is yet able to provide an alternative.

This changed in late June when first Gazprom’s CFO announced the gas giant was ready to settle China contracts in Yuan or Rubles, and at the same time the People’s Bank of China announced that its Assistant Governor Jin Qi and Russian central bank Deputy Chairman Dmitry Skobelkin held a meeting in which they discussed cooperating on project and trade financing using local currencies. The meeting discussed cooperation in bank card, insurance and financial supervision sectors.

And yet, while both sides declared their operational readiness and eagerness to bypass the dollar entirely, such plans remained purely in the arena of monetary foreplay and the long awaited first shot across the Petrodollar bow was absent.

Until now.

According to Russia’s RIA Novosti, citing business daily Kommersant, Gazprom Neft has agreed to export 80,000 tons of oil from Novoportovskoye field in the Arctic; it will accept payment in rubles, and will also deliver oil via the Eastern Siberia-Pacific Ocean pipeline (ESPO), accepting payment in Chinese yuan for the transfers. Meaning Russia will export energy to either Europe or China, and receive payment in either Rubles or Yuan, in effect making the two currencies equivalent as far as the Eurasian axis is conerned, but most importantly, transact completely away from the US dollar thus, finally putin’(sic) in action the move for a Petrodollar-free world. Continue reading »

Tags: , , , , , , , ,

Aug 27

water

- China Has Lost 55% Of Its Most Valuable Resource (Sovereign Man, Aug 26, 2014):

A few days ago I had a conversation with the Chief Operating Officer for our agricultural fund in Chile.

We were discussing water, and he told me that roughly 60% of California right now is suffering “extreme drought” conditions. 30% of the state is in “severe drought”. And 10% of the state is only under “drought”.

In other words, roughly the entire state – the 8th largest economy in the world – is facing a severe shortage of water.

But if you think that’s bad, China is about to take over the spotlight yet again.

A study by China’s Ministry of Water Resources found that approximately 55% of China’s 50,000 rivers that existed in the 1990s have disappeared.

Moreover, China is over-exploiting its groundwater by 22 billion cubic meters per year; yet its per-capita water consumption is less than one third of the global average.

This is astounding data.

More than 400 major cities in China are short of water, with some 110 facing “serious scarcity”. Continue reading »

Tags: , , , , ,

Aug 26

- China may unveil homegrown OS rivals to Windows, Google and Apple (RT, Aug 25, 2014):

Following revelations of America’s National Security Agency’s global internet surveillance system, combined with a desire to enhance domestic production, China is beating a path towards unveiling its own operating systems in October.

The Chinese-made substitutes would first be introduced on desktop devices, later expanding to include smartphones and other hand-held devices, Ni Guangnan heads an official operating system development alliance established in March, Xinhau reported at the weekend.

“We hope to launch a Chinese-made desktop operating system by October supporting app stores,” Ni told the trade paper. Continue reading »

Tags: , , , , , , , , , ,

Aug 24

- Wow. China’s Reaction: America Is A “Disgusting Thief Spying Over His Neighbor’s Fence” (Sovereign Man, Aug 23, 2014):

Only hours ago the US government announced that a Chinese fighter jet had intercepted an American military patrol plane over international waters east of China’s Hainan Island.

A Pentagon spokesman called China’s actions “unsafe and unprofessional”, and blasted such unprovoked aggression.

There was no mention as to why a US surveillance plane was just off the Chinese coast to begin with. They’re just playing the victim… and rather loudly at that. Continue reading »

Tags: , , , , , , ,

Aug 22

- End of the line: GMO production in China halted (RT, Aug 20, 2014):

In a surprise U-turn, China’s Ministry of Agriculture has decided not to continue with a program which developed genetically-modified rice and corn. Some environmentalists say public concerns about GM crops played a key role in the decision.

On August 17, when these permits were up for renewal, the Ministry of Agriculture decided not to extend them. In 2009, the ministry’s Biosafety Committee issued approval certificates to develop the two crops, rice and corn. Continue reading »

Tags: , , , , , ,

Aug 22

- Alleged Illegal GM Rice Trial on Chinese Students Leads to Leukemia Boom (Sustainable Pulse, Aug 14, 2014):

According to reports from Huazhong Agricultural University in China, an alleged illegal GM rice trial on the University students has led to an incidence rate of acute leukemia of up to three times the normal rate in China.

Source: blog.sina.com.cn By Chen I-wan

Students of the Huazhong Agricultural University  have revealed that “over 10 students suffered from leukemia within a 4 year period.” They listed the names of at least 7 cases. Continue reading »

Tags: , , , , , , , ,

Aug 21

H/t reader squodgy:

“Several years ago, when I first got interested in who owns what, I saw this video which shows where the man himself was worming his way in.

Not only is he now selling weather guarantees (no connection with chemtrails & HAARP there then?!?!….erm), he is advocating the one world currency and the supervisor of the Chinese Central Bank is his ‘friend’.

Again, what we are seeing is all window dressing to keep us confused. Whatever Vlad does with China, it has Rothschild’s nod of approval because they’re already in there.

Think about it, the USA and EU are bust, the BDI is bottomed so world trade is grinding to a halt. China has just admitted it has been borrowing trillions to build twenty cities……….who other than the people who own 90% of world assets would stump up that much? It was their perfect leverage to gain control of the Chinese financial sector.

In my humble opinion, the Chinese Credit Card is one of Rothschild’s moves, and if Vlad locks in to it, it will please Evelyn.”


June 7 (Bloomberg) — Evelyn de Rothschild, chairman of E.L. Rothschild Ltd., talks about China’s economic development and outlook for the country’s financial services industry. De Rothschild speaks from Beijing with Rishaad Salamat on Bloomberg Television’s “On the Move Asia.” (Source: Bloomberg)

Tags: , , , , , ,

Aug 19

china-india

- Chinese Troops ‘Invade’ 25Km Into India, “This Is Chinese Territory, Go Back” (ZeroHedge, Aug 18, 2014):

Update: who says media disinformation only takes place in Ukraine; apparently the same takes placed between India and China. Bloomberg cites an Indian army spokesman S.D. Goswami who denies Chinese entered territory in Ladakh, a mountainous area in northern India. “No incursion or encroachment of Indian territory by China has taken place along the India-China border,” Goswami says in statement. “There are areas along the border where India and China have differing perception” of line of actual control. “Due to both sides undertaking patrolling up to their respective.

Almost as if someone in the media world is eager to launch a war…

* * *

Fifteen months ago we reported China’s stealth invasion of India’s Ladakh region, and now, as PTI reports, Chinese troops are reported to have entered deep into Indian territory in Burtse area in Ladakh where they had pitched their tents last year. Indian troops spotted Chinese personnel 25 to 30 km from the perceived Line of Actual Control (LAC). PLA personnel carried flags reading “this is Chinese territory, go back” in their hands and they refused to move after being confronted by India’s quick response team.

As DNA India reports, Continue reading »

Tags: , , , , ,

Aug 15

Reserve Currency Status

- World Reserve Currencies: What Happened During Previous Periods Of Transition? (Economic Reason, Aug 11, 2014):

The decline of the US dollar hegemony is ever so clear today and this article aims to provide the reader with what exactly happened during past periods of reserve currency transitions. Historically, when a reserve currency transitioned over to a new one, it marked a pivotal change for the world. The economic paradigm shifted and the rules of the game changed. This time will be no different when the US dollar loses its status as the reserve currency!

The transition process of the world reserve currency brings much uncertainty

Continue reading »

Tags: , , , , , , , , , , ,

Aug 13

- China Begins Direct Sales Of Fruit & Vegetables To Russia (ZeroHedge, Aug 12, 2014):

Despite the ongoing mainstream media meme that Russia is becoming ‘isolated‘ from the rest of the world thanks to Western sanctions, it appears they have found a few new ‘old’ friends to become un-isolated with. On the heels of Russia’s food-import-ban sanctions last week, Russian and Chinese officials have announced an agreement that China will start selling fruit and vegetables directly to Russia via a special logistics center in Russia’s far east. Notably, this week saw Russia’s GDP beat consensus expectations, Ruble rally, and stocks jump as German confidence plunged – can you say blowback?

As RT reports, Continue reading »

Tags: , , , , , , , ,

Aug 10

USD-burning

- De-Dollarization Accelerates – China/Russia Complete Currency Swap Agreement (ZeroHedge, Aug 9, 2014):

The last 3 months have seen Russia’s “de-dollarization” plans accelerate. First Gazprom clients shift to Euros and Renminbi, then the UK signs currency swap agreements with China, then NATO ally Turkey cuts ties and mulls de-dollarization, Switzerland jumps in the currency swap agreements, and BRICS create their own non-US-based funding vehicle, and then finally this week, Russia’s oligarchs have shifted cash holdings to Hong Kong. But this week, as RT reports, Russian and Chinese central banks have agreed a draft currency swap agreement, which will allow them to increase trade in domestic currencies and cut the dependence on the US dollar in bilateral payments. ““The agreement will stimulate further development of direct trade in yuan and rubles on the domestic foreign exchange markets of Russia and China,” the Russian regulator said.

As RT reports, Continue reading »

Tags: , , , , , ,

Aug 10

- First BRICS Bank, Now BRICS Food Bank (ZeroHedge, Aug 7, 2014):

Despite President Obama’s dictating that Russia is increasingly “isolated,” it appears they have found a whole new set of friends to play with in the global trade sandpit. In retaliation to Western sanctions, Putin yesterday unveiled a total food import ban from all sanctioning nations, and, just as the BRICS created their own ‘IMF-lite’ away from Washington’s prying eyes, Russia plans to substitute banned goods with not just domestic supplies but imports from Latin America, China, and several other nations. Agriculture Minister Nikolai Fedorov said “no food shortages are expected,” but more isolation for the West…

Russia is already turning away trucks at the border and cancelling orders (as FruitNet reports) Continue reading »

Tags: , , , , , , , , ,

Aug 10

- Minimum-Wage Hikers Worst Enemy Spotted In China (ZeroHedge, Aug 7, 2014)

Tags: , , ,

Aug 09

- This Is How Putin’s Advisor Sees The Ukraine Crisis Playing Out  (ZeroHedge, Aug 8, 2014):

Vladimir Putin’s chief “integration” advisor, Sergei Glazyev, has been regularly featured on these pages in the past (see Putin Advisor Threatens With Dumping US Treasurys, Abandoning Dollar If US Proceeds With Sanctions and Putin Advisor Proposes “Anti-Dollar Alliance” To Halt US Aggression Abroad for two examples). So now that the Ukraine situation has once again escalated, this time with both sides openly engaged in trade war and many suggesting all-out war just over the horizon, how does Putin’s advisor see the Ukraine conflict playing out?

For the answer we go to Bloomberg: Continue reading »

Tags: , , , , , , , , , , , , , ,

Aug 05

crash-dollar

- De-Dollarization Continues: Russian Oligarchs Shift Cash To Hong Kong Dollars On Sanctions Concerns (ZeroHedge, Aug 4, 2014):

Last week we noted the very significant activity by the Hong Kong Monetary Authority as it bought USDollars in size to support its peg. It appears we have found at least one smoking gun for why they were forced to do this. In what appears to be another sanctions-blowback, Russian oligarchs are de-dollarizing their cash holdings and shifting to Hong Kong Dollars. As Bloomberg reports, various Russian entities are shifting up to 40% of their cash to HKD. “Keeping money in Hong Kong dollars is essentially equivalent to keeping it in U.S. dollars because of the currency peg,” notes BofA’s Vladimir Osakovskiy, adding “for Russian companies it’s still much safer from the standpoint of sanctions.” Continue reading »

Tags: , , , , , , , ,

Aug 05

- China Warns “What We Do Or Don’t Do [In The South China Sea] Is Up To Us, Noone Else” (ZeroHedge, Aug 4, 2014):

Having spied on RIMPAC for a week or two, it appears the Chinese imperialist rhetoric is rising once again. China can build whatever it wants on its islands in the South China Sea, Reuters reports a senior Chinese official said on Monday, rejecting proposals ahead of a key regional meeting to freeze any activity that may raise tensions in disputed waters there: “what China does or doesn’t do is up to the Chinese government. Nobody can change the government’s position.” Of course, after showing what is at stake here, it should hardly be surprising that China is pushing back again. But don’t worry, China’s Ocean Affairs minister added “trust in us Asian people to use Asian means and wisdom to resolve our own problems.”

Tags: , , , ,

Aug 04

20140803_CCB

- ‘Glitch’ Halts All ATM & Online Operations For World’s 2nd Largest Bank (ZeroHedge, Aug, 3, 2014)

Tags: , , ,

Aug 03

- China quake death toll rises to 367, about 1,900 injured – state media (PHOTOS) (RT, Aug 3, 2014)

Tags: , , ,

Aug 02

- Russian Oligarchs Wave Goodbye To Visa, Switch To Chinese Credit Card (ZeroHedge, Aug 2, 2014):

So much for the “Russia is becoming increasingly isolated” meme that the West would like many to believe. As Russia continues to sign de-dollarization deals and trade agreements with its BRICS allies while pushing ahead with retaliatory actions against the US and Europe, it appears the ‘sanctioned’ friends of Putin are taking matters into their own hands. Billionaire oligarch Gennady Timchenko, among the first to be hit by travel bans and asset freezes by the US, has decided to tear up his Visa and Mastercard, shifting all his credit cards to China’s UnionPay, noting that “in some ways it is more secure than Visa – at least the Americans can’t reach it.”

Tags: , , , ,