China is building the world’s greatest economic development and construction project ever undertaken: The New Silk Road. The project aims at no less than a revolutionary change in the economic map of the world. It is also seen by many as the first shot in a battle between east and west for dominance in Eurasia. For the world at large, its decisions about the Road are nothing less than momentous. The massive project holds the potential for a new renaissance in commerce, industry, discovery, thought, invention, and culture that could well rival the original Silk Road. It is also becoming clearer by the day that geopolitical conflicts over the project could lead to a new cold war between East and West for dominance in Eurasia.
On the heels of pledging $46 billion in infrastructure aid to Pakistan, China is set to invest as much as $50 billion in Brazil including $10 billion on a cross-mountain railway that will connect Latin America's largest economy with Peru's ports in what Premier Li calls "a new road to Asia." The move is a dramatic example of China's growing foothold in what is ostensibly Washington's strongest sphere of influence.
Either you break free from the jackass things your parents have done to you... or you deserve what you get.
Moments ago, in an embarrassing setback for the president, Senate Democrats in a 52-45 vote - short of the required 60 supporters - blocked a bill that would give President Barack Obama fast-track authority to expedite trade agreements through Congress, a major defeat for the president and his allies who "say the measure is necessary to complete a 12-nation Pacific trade deal that is a centerpiece of the administration’s economic agenda." But don't count it out yet: the WSJ cites Mitch McConnell who told reporters shortly before the vote, which he expected to lose, that “This issue’s not over" adding that "I’m hopeful we’ll put this in the win column for the country sometime soon.”
In a remarkably unbalanced and lazy article on gold this month the Economist magazine attempts to dismantle the case for investors and others to own gold. Both from an investment point of view and also from an ethical point of view. The article is so laughably one sided that it resembles propaganda rather than journalism. Therefore, we take pleasure in dissecting the article misleading sentence by misleading sentence.
Systematic Corruption Has Metastasized throughout the U.S. ... Making Our Once-Great Nation Deathly Ill
The good news is that there will be no 25-year recession. Nor will there be a depression that will last the rest of our lifetimes.
The bad news: It will be much worse than that.
For the first time in more than ten years, the IMF believes the yuan is close to fairly valued. This comes as the fund considers the yuan for SDR inclusion later this year and as China attempts to promote the currency to a more prominent role in the global economy. Meanwhile, Bill Gates says that although he "loves the dollar" he'd "put his bet on yuan."
"Colombia is the next star of Latin America" - Sam Zell
Following meetings with Sec. of State John Kerry, Defense Sec. Ashton Carter, Japanese officials, it appears, have been shown the endgame now that the Keynesian farce is over... As AFP reports, Japan’s military to take on more assertive role, according to Japanese officials as Japan and US bolster their alliance for the first time in 18 years. Noting the alliance "serves as the cornerstone of peace in AsiaPac," and that the Senkakus will fall under protection of this new treaty, we suspect the Chinese will have more than a few things to say about this.
Germany had lost the war, the Nazi industrialists agreed, but the struggle would continue along new lines. The Fourth Reich would be a financial, rather than a military imperium. The industrialists were to plan for a “postwar commercial campaign.” They should make “contacts and alliances” with foreign firms but ensure this was done without “attracting any suspicion.”... The State Department’s efforts on Schacht’s behalf worked. He was initially found guilty but was then acquitted, to the fury of the Soviet judge.
The People’s Bank of China may have tripled holdings of bullion since it last updated them in April 2009, to 3,510 metric tons. It is worth noting that the U.S. refuses to allow their gold reserves to be publicly audited and the Bundesbank is having difficulty repatriating much of its gold stored with the Federal Reserve. This has led many analysts to speculate that the U.S.’s gold reserves have been leased out or sold or are encumbered as part of an ongoing effort to manipulate gold prices.
Noam Chomsky: "The Idea Of A Media Which Does Not Repeat US Propaganda Is Intolerable To American Leaders"Submitted by Tyler Durden on 04/20/2015 21:32 -0400
"Take the New York Times -- the greatest newspaper in the world. Take one example, at the first article that appeared today, that the tentative [nuclear] agreement with Iran was reached. It’s a thinkpiece, by Peter Baker, one of their main analysts. He discusses in it the main reasons to distrust Iran, the crimes of Iran. It’s very interesting to look at. The most interesting one is the charge that Iran is destabilizing the Middle East because it’s supporting militias which have killed American soldiers in Iraq. That’s kind of as if, in 1943, the Nazi press had criticized England because it was destabilizing Europe for supporting partisans who were killing German soldiers."
China is looking to succeed where the United States has failed. Beijing — which, as a reminder, claims it will not use its regional infrastructure development initiatives as a tool of foreign policy — is now set to facilitate the construction of nearly $50 billion in power plants, roads, and railways in neighboring Pakistan. The proposal, which will give China access to the Indian Ocean via the Gwadar port on the Arabian Sea, is part of President Xi Jinping’s ambitious “Silk Road” Economic Belt, and importantly, will likely include financing for the completion of the "Peace Pipeline," which will carry natural gas from Iranian gas fields across Pakistan.
In a fiat currency system, perception is, by definition, everything. Paper money has no intrinsic value. So the people saving it and accepting it in exchange aren’t expressing faith in the money itself but in the competence and honesty — and power — of the institutions managing it. Let that faith erode and those slips of colored paper and ephemeral computer bits revert to their intrinsic value. And on the credibility front, the trends aren’t encouraging.