REVEALED: China’s ‘plot to deploy huge army against North Korea’ amid World War 3 fears

China workers at G1112 Ji'an–Shuangliao Expressway

A six-lane highway being built in a desolately populated north east on route to North Korea (NC)

 

PHOTOS have emerged of new construction in China, which experts believe could be part of a contingency plan to invade North Korea or amass their huge army on their shared border amid World War 3 fears.

Communist China has traditionally been North Korea’s closest ally, but Kim Jong-un’s continued nuclear and ballistic missile tests have tested Beijing’s patience.

It also comes as North Korea was spotted transporting 30 Scud missiles from Hwangju, south of the capital Pyongyang, to Nampo, on the Korea Bay coast opposite China.

Now photos reveal the Communist superpower is building a six-lane highway in its desolately populated north east on route to North Korea.

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Banks prepare plans for Greek eurozone exit

A new Greek currency? Plausible. Grexit? As oft here discussed, Greece is too important for that.

 

Banks and other financial institutions in Europe are stress-testing their internal systems and dusting off two-year-old contingency plans for the possibility Greece could leave the region’s monetary union after a key election later this month.

Among the firms running through drills are Citigroup Inc., Goldman Sachs Group Inc.,  and brokerage ICAP PLC, according to people familiar with the matter. Continue reading

U.S. Treasury, Fed planning for possible default – source

U.S. Treasury and Federal Reserve officials worried about the growing possibility of a catastrophic default are crafting contingency plans to mitigate the economic fallout if Congress fails to extend America’s borrowing authority, a source familiar with the plans said.

With just eight days before the Treasury Department says the U.S. will hit its $16.7 trillion (10.46 trillion pounds) borrowing limit, lawmakers and the White House remain far from a deal to extend it. Officials are examining what options might be available to calm financial markets if a U.S. debt payment is missed.

The specifics of their planning remain unclear, but the source said an area of special focus is a key bank funding market known as the tri-party repurchase agreement, or repo, market, where banks often use Treasury bills, notes and bonds as collateral for short-term loans from other banks and big money market funds. Continue reading