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The Mystery Of Dubai’s Vaporized Gold: The Plot Thickens
The Mystery Of Dubai’s Vaporized Gold: The Plot Thickens Earlier this week, we told a fascinating story about an unprecedented, multi-year smuggling ring involving Turkey, Iran, and Dubai (as well as China, Russia and countless other nations) which saw corruption reaching to the very top of the political and financial establishment: from president Erdogan in Turkey, to […]
Why the oil price slump hasn’t kickstarted the global economy
Why the oil price slump hasn’t kickstarted the global economy There has only been a modest boost to global growth despite the oil price plummeting to as low as $35 a barrel. But as prices fall so the risks to producers rise An oil pump at sunset in the desert oilfields of Sakhir, Bahrain. As […]
Chinese State Firms’ Debt Hits New All Time High, As Profits Tumble
Chinese State Firms’ Debt Hits New All Time High, As Profits Tumble Overnight China’s finance ministry reported the latest data on state-owned firms profitability. At a cumulative CNY 2.04 trillion (or $316 billion) for the January-November period, this was another nearly double digit decline, or -9.5% from the year ago period, following a -9.8% drop for the […]
The Trade Wars Begin: U.S. Imposes 256% Tarriff On Chinese Steel Imports
The Trade Wars Begin: U.S. Imposes 256% Tarriff On Chinese Steel Imports Two weeks ago, when looking at the latest import price index data, we showed something disturbing: China has become an all out exporter of deflation. As the chart below shows, In November, import prices from China decreased 1.5% over the past 12 months, the […]
China Just Launched the Most Frightening Game Ever — and Soon It Will Be Mandatory
China Just Launched the Most Frightening Game Ever — and Soon It Will Be Mandatory (ANTIMEDIA) Oceania, China — As if further proof were needed Orwell’s dystopia is now upon us, China has now gamified obedience to the State. Though that is every bit as creepily terrifying as it sounds, citizens may still choose whether or not […]
“The Cost Is Very High”: Portugal Taxpayers Face €3 Billion Loss After Second Bank Bailout In 2 Years
“The Cost Is Very High”: Portugal Taxpayers Face €3 Billion Loss After Second Bank Bailout In 2 Years Back in August of 2014, Portugal had an idea. Lisbon would use some €5 billion from the country’s Resolution Fund to shore up (read: bailout) Portugal’s second largest bank by assets, Banco Espirito Santo. The idea, basically, […]
“I Know Of No One Who Predicted This”: Russian Oil Production Hits Record As Saudi Gambit Fails
“I Know Of No One Who Predicted This”: Russian Oil Production Hits Record As Saudi Gambit Fails In late October, we noted that for the second time this year, Russia overtook Saudi Arabia as the biggest exporter of crude to China. Russia also took the top spot in May, marking the first time in history that Moscow beat out […]
IEA: China might have passed ‘peak coal’ in 2013
IEA: China might have passed ‘peak coal’ in 2013 China possibly saw its coal consumption peak in 2013, according to the International Energy Agency (IEA). The seismic shifts underway in China have global implications for both coal use and emissions. Global coal use fell by 0.9% in 2014, the first fall this century, says the IEA’s […]
Baltic Dry Crashes To New Record Low As China “Demand Is Collapsing”
Baltic Dry Crashes To New Record Low As China “Demand Is Collapsing” Worst. Ever. As Bloomberg adds, China, which makes about half the world’s steel, is on track for the biggest drop in output for more than two decades, according to data compiled by Bloomberg Intelligence… Owners are reeling as China’s combined seaborne imports of iron ore and […]
The Neoconservatives’ Hegemonic Goal Of Making Sovereign Countries Extinct Is Bringing Instead The Extinction Of Planet Earth
The Neoconservatives’ Hegemonic Goal Of Making Sovereign Countries Extinct Is Bringing Instead The Extinction Of Planet Earth My warning that the neoconservatives have resurrected the threat of nuclear Armageddon, which was removed by Reagan and Gorbachev, is also being given by Noam Chomsky, former US Secretary of Defense William Perry, and other sentient observers of […]
World Leaders Just Agreed To A “Historic” Climate Accord… Which Is Non-Binding And Has No Enforcement Language
World Leaders Just Agreed To A “Historic” Climate Accord… Which Is Non-Binding And Has No Enforcement Language Great news! The “greatest threat to future generations of the world” has apparently been solved. World leaders Saturday adopted an historic international climate accord in Paris, the first-ever agreement to commit almost every country to fight climate change. […]
Oil Producer’s Currencies Are Collapsing As Brent Breaks Below $40
Oil Producer’s Currencies Are Collapsing As Brent Breaks Below $40 Not helped by weakness in China trade data, questions over global growth and inflation expectations are growing. Oil-exporting nations (and growth-linked currencies) are getting monkey-hammered… Just when traders thought the bottom was in… As Reuters notes, with lower oil prices likely to add to global deflationary […]
