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Taps running dry have become part of daily life in South Africa’s biggest city
Taps running dry have become part of daily life in South Africa’s biggest city Residents of the township of Soweto, South Africa, queue for water on March 16, 2024 as Johannesburg experiences severe water shortages. Jerome Delay/AP JohannesburgCNN — When Duane Riley turns on his taps, they shudder loudly from the air flowing through the pipes. […]
Xi, Putin Hail First BRICS Expansion In Over A Decade As Gulf Oil Powers Join
Xi, Putin Hail First BRICS Expansion In Over A Decade As Gulf Oil Powers Join At a moment China and Russia have envisioned the future of BRICS as fundamentally an anti-Western bloc of developing nations, the Gulf oil powers Saudi Arabia and the United Arab Emirates have been formally invited to become members, which marks the bloc’s first expansion […]
BRICS Nations Developing “New Currency” as Quest for Global De-Dollarization Accelerates
BRICS Nations Developing “New Currency” as Quest for Global De-Dollarization Accelerates China and Brazil recently finalized a trade deal in their own currencies completely bypassing the dollar, but that’s not the only bad news for the world’s reserve currency. Last week, a Russian official announced that the BRICS nations are working to develop a “new currency,” […]
South Africa’s Energy Crisis Could Spark A Political And Economic Disaster
South Africa’s Energy Crisis Could Spark A Political And Economic Disaster Eskom is operating at 50% capacity with rolling blackouts that are causing civil unrest and economic hardship. An international aid package worth $8.5 billion is being put together by the U.S. and Europe to help fund South Africa’s green energy transition. The dismal track […]
Russia And China Officially Announce A “New Global Reserve Currency”
Russia And China Officially Announce A “New Global Reserve Currency” And once again, as happens often with consequential news in the United States and the West, no one has noticed and no one seems to care. If you’ve blinked over the last month, you may have missed it… China and Russia are taking their shot […]
Refinery Shuts Down Due To Lack Of Crude
Refinery Shuts Down Due To Lack Of Crude A South African refinery has shut down operations and declared force majeure on the supply of petroleum products due to a delay in the shipment of crude, which highlights the fact that the physical market for crude is tight these days despite a slump in paper-traded oil […]
World in Chaos
World in Chaos In South Africa, the currency has fallen hard as riots have devasted the country. They looted the mall, except for the bookstore. The former South African President Jacob Zuma turned himself in to begin a 15-month sentence for contempt of court. This has sent the country into a tailspin. Contempt of court […]
Over 70 Killed As South Africa “Crumbles” Despite Military Intervention
Over 70 Killed As South Africa “Crumbles” Despite Military Intervention South Africa could be on the verge of collapse, and all the warning signs are there. The looters have targeted foreign shops, shopping centers, distribution centers/warehouses, and raided gun shops. Shortages are beginning with food, fuel, and ammo. Over 70 have reportedly been killed since social […]
“All The Jobs Are Gone” – Africa Facing ‘Complete Economic Collapse’ As Virus Spreads
“All The Jobs Are Gone” – Africa Facing ‘Complete Economic Collapse’ As Virus Spreads The COVID-19 pandemic and lockdowns across the African continent could trigger an economic collapse, according to one United Nations (UN) official, who spoke with Associated Press (AP). Ahunna Eziakonwa, the UN Development Program regional director for Africa, warned that the pandemic would likely result in […]
How to Deal with Rolling Blackouts: Notes from South Africa
How to Deal with Rolling Blackouts: Notes from South Africa Editor’s note: By now, just about everyone has heard about the difficulties occurring in South Africa. The violence is palpable, the corruption is an everyday fact, and utilities such as water and electricity are no longer a given. Not only that, but the cost of these utilities has […]
Backup Power on a Budget: Notes from South Africa
Backup Power on a Budget: Notes from South Africa Editor’s note: By now, just about everyone has heard about the difficulties occurring in South Africa. The violence is palpable, the corruption is an everyday fact, and utilities such as water and electricity are no longer a given. Not only that, but the cost of these […]
Good Times…
Good Times… My son wanted to know why it is that Venezuela (a topic that gets discussed around the dinner table at home) chose such painfully, obviously asinine policies. After much thought I explained it thus. Hard times create strong men. Strong men create good times. Good times create weak men. Weak men create hard […]
Rand Tumbles As Government Warns Of “Catastrophe” Unless ‘Land Reform’ Allowed
Rand Tumbles As Government Warns Of “Catastrophe” Unless ‘Land Reform’ Allowed In a barrage of headlines that sparked chaos in FX algo markets, The South African government proclaimed proudly that it is opposed to illegal land grabs (sparking a rally in the rand) before humans realized that this is mere statement of fact and that […]
Weekly Commentary: Turkey (Nudged Over the Cliff)
Weekly Commentary: Turkey (Nudged Over the Cliff) The Turkish lira sank 13.7% in chaotic Friday trading. The lira’s 21.0% “worst week in 17 years” collapse pushed y-t-d losses to 41.1%. Turkish 10-year yields spiked to almost 21%, before retreating somewhat. After beginning the year at 155, Turkey sovereign credit default swaps (CDS) spiked 166 bps […]
If You Think the Water Restrictions in California Are Tough, Check Out Cape Town
If You Think the Water Restrictions in California Are Tough, Check Out Cape Town Remember earlier in the year when the news was abuzz about Day Zero in Cape Town, South Africa? According to the press at the time, the day was looming when the city of 3.74 million people would run completely out of […]
