India

Russia To Create Own National Payment System In "Bid To Reduce Dependence On The West"

The more the West attempts to "isolate" Russia and pushes it away from its "core values" and of course the US Dollar, the more Russia will seek the safety of a non-dollar based system. We have previously described how Putin has been scrambling to enmesh Russia in tight bilateral commodity-based trade with both China and India, and now it is Russia's turn to announce it would seek its own "national payment settlement system" following last week's surprising and unmandated service halts by both Visa and MasterCard, which as Vladimir Putin said earlier today, will be a "bid to reduce economic dependence on the West."

Goodbye Polar Vortex; Hello Solar Vortex - El Nino Is Coming

Thirsty Californians are pinning their hopes that worried farmers in Australia are right. After months of the Polar Vortex dumping snow on the US east coast and drought on the west coast (and crushing the American Dream of an 'escape velocity' economy), The US Climate Prediction Center issued an El Nino watch bring hope of a big rain year for California, floods in South America, and dismal droughts in Southeast Asia. The Australian Bureau of Meteorology said an El Nino could occur during the southern hemisphere winter from May-July. Increased sea surface temperatures suggest an increasing chance of the global weather phenomenon and the great rotation from a Polar Vortex to a Solar Vortex.

Pivotfarm's picture

What exactly is happening in this globalized world? What’s happening in the world that one day somebody constructed in which everybody had access to everybody’s private life via social networks and even some had access to it through special programs that they gave fancy names to like Prism and the President’s Surveillance Program?

Russia Prepares Mega-Deal With India After Locking Up China With "Holy Grail" Gas Deal

Last week we reported that while the West was busy alienating Russia in every diplomatic way possible, without of course exposing its crushing overreliance on Russian energy exports to keep European industries alive, Russia was just as busy cementing its ties with China, in this case courtesy of Europe's most important company, Gazprom, which is preparing to announce the completion of a "holy grail" natural gas supply deal to Beijing. We also noted the following: "And as if pushing Russia into the warm embrace of the world's most populous nation was not enough, there is also the second most populated country in the world, India." Today we learn just how prescient this particular comment also was, when Reuters reported that Rosneft, the world's top listed oil producer by output, may join forces with Indian state-run Oil and Natural Gas Corp to supply oil to India over the long term, the Russian state-controlled company said on Tuesday.

Stocks Levitate Into US Open In Yet Another "Deja Vu All Over Again" Moment

With another session in which US futures levitate into the open, despite a modest drop in the Nikkei225 (to be expected after the president of Japan’s Government Pension Investment Fund, the world’s largest pension fund, said that a review of asset allocations into stocks is not aimed at supporting domestic share prices) and an unchanged Shanghai Composite while the currency pair du jour, the USDCNY, closes higher despite tumbling in early trade (which also was to be expected after a former adviser to the People’s Bank of China said China is headed for a “mini crisis” in its local- government debt market as economic reforms lead to the first defaults) everyone is asking: will it be deja vu all over again, and after a solid ramp into 9:30 am, facilitated without doubt by the traditional Yen carry trade, will stocks roll over as first biotech and then all other bubble stocks are whacked? We will find out in just over two hours.

globalintelhub's picture

Let's examine what happened from the beginning.  An extreme right wing group, with US and NATO support (according to released internal transcripts), overthrew the legitimate Ukrainian government (illegally) via violent coup.  The fact that this group had western support is not important really, but should be noted.  So according to 'international law' - this 'country' is NOT Ukraine.  Ukraine cease to exist when this happened.  The new 'government' - not popularly elected, seized control by force.

Goldman Doubles Down Its Hate On The Best Performing Asset Of 2014: Gold

As gold completes its golden cross today and remains by far the best-performing asset of 2014, we thought it intriguing that Goldman Sachs' commodity group would issue a strong "sell your gold" recommendation... of course, when Goldman's clients are selling, who is buying? As a reminder, the last time the bank was extremely bearish on gold (about a year ago), our skepticism at the time was well warranted as Goldman was in fact the largest buyer of gold in the following quarter.

Petrodollar Alert: Putin Prepares To Announce "Holy Grail" Gas Deal With China

While Europe is furiously scrambling to find alternative sources of energy should Gazprom pull the plug on natgas exports to Germany and Europe (the imminent surge in Ukraine gas prices by 40% is probably the best indication of what the outcome would be), Russia is preparing the announcement of the "Holy Grail" energy deal with none other than China, a move which would send geopolitical shockwaves around the world and bind the two nations in a commodity-backed axis. One which, as some especially on these pages, have suggested would lay the groundwork for a new joint, commodity-backed reserve currency that bypasses the dollar, something which Russia implied moments ago when its finance minister Siluanov said that Russia may refrain from foreign borrowing this year. Translated: bypass western purchases of Russian debt, funded by Chinese purchases of US Treasurys, and go straight to the source.

Putin Grateful To China, India For "Support" Over Crimea

While the most vocal mouthpieces of the western world's nations are loudly condemning Vladimir Putin's actions in Crimea - despite Ukraine itself suggesting he can keep it for a price - it appears the rest of the world is less voracious in its condemnation. As Putin noted this morning "we are grateful to all those who understood our actions in Crimea,” Putin said. “We are grateful to the people of China, whose leadership sees the situation in Crimea in all its historical and political integrity. We highly appreciate India’s restraint and objectivity.”

China's Newest Maritime Dispute

China’s hardly in need of more territorial disputes with neighbors. Yet, it has started a new one with Indonesia.

To Eliminate Flight 370 Theories, Start With A Ruler, Pencil And Map

No conventional scenario accounts for the methodical disabling of the communications systems, the bizarre altitude changes and professional navigation to way points, or the presumed turn south and a flight path that extended to at least 8:11 a.m. Every plausible theory about what happened to Flight 370 has to not only fit the most reliable facts (radar tracks and satellite data) but basic geography.

Did Missing Flight MH370 Land In The Maldives Or Diego Garcia: The Full Updated Summary

Well over a week after the disappearance of flight MH370 - which now is the longest official disappearance of a modern jet in aviation history - with no official trace of the missing plane yet revealed, the investigation, which as we reported over the weekend has focused on the pilots and specifically on Captain Zaharie Ahmad Shah, earlier today revealed that on his home-made flight simulator had been loaded five Indian Ocean practice runways, among which those of Male in the Maldives, that of the US owned base at Sergio Garcia, as well as other runways in India and Sri Lanka - all notable runways as all are possible landing spots based on the flight's potential trajectories. The Malay Mail Online reported, "The simulation programmes are based on runways at the Male International Airport in Maldives, an airport owned by the United States (Diego Garcia), and three other runways in India and Sri Lanka, all have runway lengths of 1,000 metres."

Risk On Mood Tapers Ahead Of Putin Speech

Has the market done it again? Two weeks ago, Putin's first speech of the Ukraine conflict was taken by the USDJPY algos - which seemingly need to take a remedial class in Real Politik - as a conciliatory step, and words like "blinking" at the West were used when describing Putin, leading to a market surge. Promptly thereafter Russia seized Crimea and is now on the verge of formally annexing it. Over the weekend, we had the exact same misreading of the situation, when the Crimean referendum, whose purpose is to give Russia the green light to enter the country, was actually misinterpreted as a risk on event, not realizing that all the Russian apparatus needed to get a green light for further incursions into Ukraine or other neighboring countries was just the market surge the algos orchestrated. Anyway, yesterday's risk on, zero volume euphoria has been tapered overnight, with the USDJPY sliding from nearly 102.00 to just above 101.30 dragging futures with it, in advance of Putin's speech to parliament, in which he is expected to provide clarity on the Russian response to US sanctions, as well as formulate the nation's further strategy vis-a-vis Crimea and the Ukraine.