Russia to build controversial artificial islands in arctic for gas industry

A Qatari-flagged LNG tanker crosses through the Suez Canal. Photo: Reuters

 

Prime Minister Dmitry Medvedev signs agreement on construction, though analysts puzzled as the location is far from natural gas field

Russia plans to build four artificial islands in the arctic Barents Sea to serve the natural gas industry, though analysts are puzzled by the location as it’s far from a gas field, while environmentalists warn of pollution dangers.

Prime Minister Dmitry Medvedev signed an agreement on June 17 to build the islands in Kola Bay of the Barents Sea at an estimated cost of $420 million. They are expected to come into use from 2020. Continue reading

69 Percent Of Americans Do Not Have An Adequate Emergency Fund

 

Do you have an emergency fund?  If you even have one penny in emergency savings, you are already ahead of about one-fourth of the country.  I write about this stuff all the time, but it always astounds me how many Americans are literally living on the edge financially.  Back in 2008 when the economy tanked and millions of people lost their jobs, large numbers of Americans suddenly couldn’t pay their bills because they were living paycheck to paycheck.  Now the stage is set for it to happen again.  Another major recession is going to happen at some point, and when it does millions of people are going to get blindsided by it.

Despite all of our emphasis on education, we never seem to teach our young people how to handle money.  But this is one of the most basic skills that everyone needs.  Personally, I went through high school, college and law school without ever being taught about the dangers of going into debt or the importance of saving money. Continue reading

Leading the Multipolar Revolution: How Russia and China Are Creating a New World Order

The replacement for the American global hegemony is all there. The alternative global infrastructure is built and only a switch needs to be flipped on. The only questions remaining are when and how America will be replaced as a global leader.

 

Leading the Multipolar Revolution: How Russia and China Are Creating a New World Order

 

The last thirty days have shown another kind of world that is engaging in cooperation, dialogue and diplomatic efforts to resolve important issues. The meeting of the members of the Belt and Road Initiative laid the foundations for a physical and electronic connectivity among Eurasian countries, making it the backbone of sustainable and renewable trade development based on mutual cooperation. A few weeks later, the Shanghai Cooperation Organization meeting in Astana outlined the necessary conditions for the success of the Chinese project, such as securing large areas of the Eurasian block and improving dialogue and trust among member states. The following AIIB (Asian Infrastructure Investment Bank) meeting in ROK will layout the economical necessities to finance and sustain the BRI projects.

The Shanghai Cooperation Organization (SCO) and the Chinese Belt and Road Initiative (BRI) have many common features, and in many ways seem complementary. The SCO is an organization that focuses heavily on economic, political and security issues in the region, while the BRI is a collection of infrastructure projects that incorporates three-fifths of the globe and is driven by Beijing’s economic might. In this context, the Eurasian block continues to develop the following initiatives to support both the BRI and SCO mega-projects. The Collective Security Treaty Organization (CTSO) is a Moscow-based organization focusing mainly on the fight against terrorism, while the Asian Infrastructure Investment Bank (AIIB) is a Beijing-based investment bank that is responsible for generating important funding for Beijing’s long-term initiatives along its maritime routes (ports and canals) and overland routes (road, bridges, railways, pipelines, industries, airports). The synergies between these initiatives find yet another point of convergence in the Eurasian Economic Union (EEU). Together, the SCO, BRI, CTSO, AIIB, and EEU provide a compelling indication of the direction in which humanity is headed, which is to say towards integration, cooperation and peaceful development through diplomacy. Continue reading

Germany, Austria vs. US Senate: America and Europe on Collision Course

 

Germany and Austria have lashed out against US Senate for approving a legislation tightening sanctions on Russia. The bill has a provision that enables the United States to impose sanctions on European firms involved in financing Russian energy export pipelines to Europe. European companies could be fined for breaching US law. In a joint statement, German Foreign Minister Sigmar Gabriel and Austrian Chancellor Christian Kern accused the US of threatening European economic interests, describing it as an illegal attempt to boost US gas exports. The United States recently started shipping liquefied natural gas to Poland and has ambitions to cultivate other European customers.

The bill says the US government «should prioritize the export of United States energy resources in order to create American jobs, help United States allies and partners, and strengthen United States foreign policy». But the European foreign chiefs believe that «Europe’s energy supply is Europe’s business, not that of the United States of America». Gabriel and Kern said they «can’t accept» proposed US sanctions targeting European energy companies as part of measures against Russia.

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Future of Iraq

WASHINGTON/BERLIN/BAGHDAD (Own report) – A strategy paper prepared by the US Atlantic Council think tank – with the assistance of Germany’s CDU-affiliated Konrad Adenauer Foundation – is proposing measures for Western powers to take to insure their continued influence in Iraq following the fall of Mosul. According to the paper, published a few days ago, US military forces should remain in Iraq for the foreseeable future, train and equip Iraqi forces to prevent IS from regrouping and recovering after its expected defeat. To push back Iran’s influence, measures should also be taken to help the country’s economic development. In Baghdad, a government “strongly inclined to cooperate closely with the United States” is needed, the paper states, and calls for US allies – particularly European countries – to engage in Iraq to “tackle sensitive areas in which the United States is not seen as neutral.” Berlin is already using this opportunity to build its own base of influence in Iraq and is supporting the reconstruction of towns recaptured from the IS. Insuring western control of Iraq is considered all the more urgent, since Russia could successfully obtain major influence in Damascus following the anticipated end of the Syrian war.

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Russia and China Move to Dump the Dollar, Threatening the New World Order

 

As long predicted, the dollar’s dominance on the world’s economic stage is wavering and likely to completely collapse soon given the move away from the dollar by Russia, Iran, and China. 

Many have been predicting it. This writer spoke of it as early as 2004. The elite have dreaded it. It’s finally happened. The dollar is soon to be removed as the trading currency for oil and other commodities among Russia, Iran, and China. The effect on the U.S. economy will be catastrophic. However, in the long run it will serve to force the U.S. into a regional, rather than a global role. Continue reading

Can a Divided America Survive?

Torn sign at a pro-Trump rally in Portland, Ore., June 4, 2017. (Reuters photo: David Ryder)

 

History has not been very kind to countries that enter a state of multicultural chaos.

The United States is currently the world’s oldest democracy.

But America is no more immune from collapse than were some of history’s most stable and impressive consensual governments. Fifth-century Athens, Republican Rome, Renaissance Florence and Venice, and many of the elected governments of early 20th-century Western European states eventually destroyed themselves, went bankrupt, or were overrun by invaders. Continue reading

China’s Red October

China’s Red October

 

The 19th National Congress of the Communist Party of China, CCP, will be held in the fall of 2017. The exact date has not yet been announced, but late October is a reasonable estimate. This will be the most important CCP meeting since the death of Mao Zedong and the rise of Deng Xiaoping in the late 1970s.

Communist societies such as China have a dual or parallel government structure. On one side is a normal government with a president, vice premier, cabinet ministers and other subordinate posts. On the other side is the CCP leadership consisting of a General Secretary, Politburo Standing Committee, Politburo, and Central Committee.

The seven-member Politburo Standing Committee runs the CCP. The General Secretary is the single most powerful person in the leadership. The conventional government is controlled by the CCP, which holds the real power.

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EU Wants to Order All Euro Trading Moved from London to Paris

 

The European Union is preparing the legal basis to take over London’s extensive trading business with euro derivatives. This is just another complete failure of bureaucrats to comprehend market function. Perhaps they should also outlaw euro trading in the USA and Asia. That would be real smart. Then they can all sit down and play cards with euro themselves and guarantee it will never be anything to anyone else, no less convertible worldwide. Continue reading

Greece made a “Sacrificial Lamb” by German-Dominated EU

Shutterstock

 

EU’s currency policy causing huge damage.

Greece has been warned by the EU not to mention its money troubles at a leader’s summit next week, suggesting the country is set to suffer more austerity while EU bosses try to ignore the problem. Greece’s Economic Minister has hit back, claiming that the country is being made a “sacrificial  lamb”.

Germany appears to be the hardliners behind the stance, saying that Greece’s finances have to be dealt with by Eurogroup, a meeting of each countries Finance Ministers, but Greek Prime Minister, Alexis Tsipras, believes a solution is needed higher up. Continue reading

Illinois Is Essentially Experiencing Its Own Private Great Depression

 

The state of Illinois has not passed a budget for close to three years.

Arguably it’s just as well because Illinois budgets for decades have been nothing but a moth-eaten collection of lies, one time deficits repeated endlessly, and financial wizardry statements designed to disguise Illinois’ real problems: failure to rein in spending coupled with a very business unfriendly environment.

As Illinois’ bond rating careens towards junk, Illinois Unpaid Bills Jumped to $14.3 Billion. Today, the state told contractors to halt roadwork other that required for safety. Continue reading

Coming Soon: The Mother Of All Debt Ceiling Crises

 

[Urgent Note: The nation’s future and a massive debt ceiling hangs in the balance as Trump pushes beyond the Comey hearings. That’s why I’m on a mission to send my new book TRUMPED! A Nation on the Brink of Ruin… and How to Bring It Back to every American who responds, absolutely free. Click here for more details.]

While the Imperial City is frozen in the Second Coming of Comey, it doesn’t mean that the Washington spending machine is on pause. In fact, the Treasury’s cash balance yesterday stood at only $153 billion — down by $130 billion just since the tax season peak was reached on April 25th.

Uncle Sam has been burning cash at a rate of $3.2 billion per calendar day since then and has no more room to borrow. That’s because the public debt ceiling is frozen at its March 15th level ($19.808 trillion) and the mavens at the Treasury Building have run out of borrowing gimmicks.

The countdown to the mother of all debt ceiling crises is now well underway — with the nation’s net debt sitting at $19.69 trillion. That figure, in turn, is up nearly $500 billion since FY 2016 ended on September 30 with the net debt at $19.22 trillion.

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Global credit crunch WARNING issued on debt bubble as current trends mirror 2008 crash

crash

A indicator tracking credit is following a worrying trend [Getty]

 

WARNING signals have been felt today after a key credit indicator mirrored the same pattern experienced ahead of the financial crisis of 2008, in a eerie sign that the global economy is heading for another downturn.

A key UBS credit impulse which monitors the changes in credit volume has tumbled by six per cent of GDP since last year.

It mirrors the same movement seen before the financial crisis 10 years ago, raising fears the global bubble could be about to burst and another credit crunch. Continue reading

Brexit under threat: Macron set for landslide victory that may drastically alter EU exit

Emmanuel Macron on campaign trail and Theresa May

Emmanuel Macron is facing election success while Theresa May faces chaos (Reuters)

 

EMMANUEL Macron is on course for another landslide win as voting on Sunday opened in parliamentary elections that will have huge implications for Brexit.

According to final opinion polls, the 39-year-old head of state’s Republique En Marche! (REM) party could win between 395 and 425 seats in the National Assembly.

If the CEVIPOF-Le Monde figures prove correct, this would be far above the 289 needed to secure an absolute majority. Continue reading

UBS Has Some Very Bad News For The Global Economy

 

At the end of February we first highlighted something extremely troubling for the global “recovery” narrative: according to UBS the global credit impulse – the second derivative of credit growth and arguably the biggest driver behind economic growth and world GDP – had abruptly stalled, as a result of a sudden and unexpected collapse in said impulse. Continue reading