Ten dark suited men entered the premises of FBME bank in Cyprus on Friday afternoon and took it hostage. The men were from the Central Bank of Cyprus (CBC). And they commandeered FBME because an obscure agency within the US government recently issued a report accusing the bank of laundering money. It just so happens that FBME... and Cyprus in general... is where a lot of wealthy Russians hold their vast fortunes. Bear in mind, there has been no proof that any crime was committed.
In Reality, War Will Bring An End to the Petrodollar, and Impose Hardship on the Average American ...
From Ancient Egypt to Modern America …
And War is a racket...
Never in a million years did we think we’d ever use an article by Andrew Ross Sorkin as the basis of a blog post, but here we are. While probably entirely unintentional, his article serves to further solidify as accurate the prevailing notion across America that former head of the New York Federal Reserve and Obama’s first Treasury Secretary, Timothy Geithner, is nothing more than an addled, crony, bureaucratic banker cabin boy. Simply put, "Geithner is so bad, he actually makes Larry Summers look good."
This is an impressive, comprehensive analysis of the February 2014 Ukraine coup from the perspective of a senior Russian academic. It details the interests and affiliations of the main Ukrainian domestic players - oligarchical clans many of whose leaders have dual nationality - with some shocking and little known detail. It exposes the glaring hypocrisies and double standards of the western sponsors of the coup and their Russian/Ukrainian '5th Column traitors'. It sees the coup and Russia's successful incorporation of Crimea as major game-changing events in the on-going, US-lead post-WWII machinations of the West to subdue Russia to its own agenda and outlines how Russia should now respond. All-in-all a must-read for westerners needing to understand what is really happening in both the Ukraine and the wider Anglo-US-NATO globalisation drive which it brings into sharp focus
We are entering a completely new era in economics. Either (1) if countries perceive that their borrowings curtail their ambitions (thus we have a check and balance), however (2) if countries cannot borrow, then they may invade and revert to the old Conquest Model relying upon the spoils of war, which included the confiscation of assets belonging to an adversary. Either Putin backs down, or he asserts the same principles and is then forced to invade in short-order just to economically survive.
While the western media paints Vladmir Putin as some cross between Napoleon and Hitler marauding across Europe breaking international laws willy-nilly, there is one red line he is apparently unwilling to cross. In a somewhat surprising turn of events, none other than Edward Snowden called in to a Putin live telethon and asked the Russian President: "Does Russia intercept millions of citizens’ data?" Putin's response (whether true or not) is worth paying attention to by his opponent on the world stage: "Russia uses surveillance techniques for spying on individuals only with the sanction of a court order. This is our law, and therefore there is no mass surveillance in our country."
Rickards does not expressly say one should put 33% of one’s wealth in gold but suggests that an allocation of between 10% and 33% would be prudent. In this regard, he echos Dr Marc Faber who suggested a 25% allocation to precious metals last week.
Among other things, there is one major obstacle to the West's "costs" imposition on Vladimir Putin and his Russian economy - China. So far, a Xi Jinping has described, China has been a "sleeping lion" but today "the lion is awake" and with the Chinese President's first trip to Europe, as WSJ reports, western leaders are hoping to enlist his support over the crisis in Ukraine. However, privately, European diplomats concede that China's relationship with Russia remains solid and that was evidenced by their most recent investment in Russia's $10bn state-backed Direct Investment Fund (which just happens to be run by a former Goldman Sachs banker. It seems "money talks" once again and China will likely continue to play the middle ground.
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?
The structural incompetence of centralized, wrong-unit-size agencies and central banks is global: the centralized strategies of China, Japan, the European Union and yes, Russia, too, will all fail for the same reasons: organizations with a few limited controls are intrinsically incapable of managing complex systems.
When you ponder the implications of allowing a small group of powerful wealthy unaccountable men to control the currency of a nation over the last one hundred years, you understand why our public education system sucks. The average American has experienced a fourteen year recession caused by the monetary policies of the Federal Reserve. Our leaders could have learned the lesson of two Fed induced collapses in the space of eight years and voluntarily abandoned the policies of reckless credit expansion, instead embracing policies encouraging saving, capital investment and balanced budgets. They have chosen the same cure as the disease, which will lead to crisis, catastrophe and collapse.
Blaming the weather for the sullen state of corporate or economic affairs has become a daily occurrence by analysts, pundits and corporate chieftains. However, Bloomberg's Rich Yamarone notes that while there has undoubtedly been a larger-than-normal impact this year, some sub-components of headline indicators suggest underlying weakness without the influence of snowstorms. Sinking economic activity cannot be blamed solely on poor weather, he adds, noting one client's comment that, "If we adjusted for weather, Napoleon would have taken Russia in 1812."