Vital Oil Shipping Lane Becomes Target In Yemen’s Civil War

 

Yemen’s strategic Red Sea port, through which some 4 million barrels of oil flow daily to Middle Eastern markets, is becoming a focal point in the proxy war between Saudi Arabia and Iran, and China is the only power with the economic deal-making leverage to keep this from becoming much more than a proxy battle.

The Red Sea port, near the Bab al-Mandab strait, is currently controlled by Yemen’s Shi’ite Houthis, and whoever maintains control of it has a strategic advantage. This port is a pathway connection the Middle East (where the world’s largest proven oil reserves are) and Sub-Saharan Africa (a region expected to see a four-fold increase in energy demand by 2040), making it a coveted geopolitical prize for regional powers, but a livelihood-destroying burden for Yemen’s residents. Continue reading

EU: Do as you are Told or be Stripped of Funding

IDN / Shutterstock.com

 

One of the EU’s unelected Commissioners, Vera Jourova, has warned that countries within the EU such as Poland who do not do as they are told may be stripped of funding moving forward.

Countries like Poland and Hungary have become increasingly outspoken at the way that the EU is increasingly being dominated by a small clique including the Germans and the French. Continue reading

EU Prepares for Trade War with U.S. – Süddeutsche Zeitung

Photo: RIA Novosti / Aleksey Vitvitskiy

 

EU countries are considering three main variants of answering possible changes in the US trade policy.

Active discussions on how to react to plans of US President Donald Trump to introduce a 20 percent duty on imported goods in the US are held in EU countries, the German Süddeutsche Zeitung newspaper reported.

First of all, EU states themselves could subsidize their enterprises in order to save the companies from additional costs for new duties. In addition, companies would manage to remain competitive. However, this variant would hit the budget of European countries. Continue reading

Medvedev: Russia Prepared For Permanent Economic Divorce With West

Although the source is state-owned, it’s important to note they’re positioned:

 

 

The myth that is propelling the Trump Manchurian candidate conspiracy theory is that Putin desperately needs sanctions removed, and therefore has installed a puppet in the White House to do away with them.

Not quite.

Here is Russian Prime Minister Dmitry Medvedev, explaining why Russia is not looking for “mercy” from the West: (See above video) Continue reading

Latin America: Front Line of Trade War

Caption: Demonstrators during a protest rally against Mexican President Enrique Peña Nieto meeting with President Donald Trump, in Mexico City on September 15, 2016. (ALFREDO ESTRELLA/AFP/Getty Images)

 

America’s new protectionism is forcing Latin America to seek new partners.

America’s influence in Latin America is decreasing, while the influence of other world powers in the region is growing. If it continues, this trend could destroy America.

Dominance of the Caribbean basin is integral to America’s safety and essential to its ability to project power globally. If a rival power were able to establish a significant presence in the Caribbean, it could threaten the American heartland. The Caribbean is also key to United States’ trade. The majority of all U.S. waterborne foreign trade travels to or from U.S. ports on the Gulf of Mexico. When you include goods traveling through the region from other ports, no other part of the world is more essential to America’s trade.

This is why more Americans ought to be concerned that foreign powers are rapidly moving into the Caribbean, as well into South America itself. Continue reading

EU Makes Powergrab for British Fishing Waters

[Shutterstock]

 

The European Union is set to put pressure on the government to ensure continued access to British fishing waters for European vessels despite the mad Common Fisheries Policy being one of the major concerns of Brexiteers across the country. Continue reading

China eyes global economic leadership as U.S. turns inward

In this photo taken Wednesday, Nov. 23, 2016, Kenyan laborers and a Chinese foreman work to finish the construction of an existing bridge that goes across a corner of Nairobi National Park in Nairobi, Kenya. A controversial Chinese-built railway project involving an even larger 6km bridge that would go all the way over the beloved protected area in Kenya’s capital has divided conservationists in this East African country. (Photo: Ben Curtis, AP)

 

This year, a 300-mile railway will begin slicing through Kenya, cutting travel time between the capital, Nairobi, and one of East Africa’s largest ports, Mombasa, from 12 to four hours and breeding hopes of an economic and tourism revival in the region.

The country’s most significant transportation project since its independence in 1963 is being built courtesy of China.  China Road and Bridge, a state-owned enterprise, leads construction of the $13.8 billion project, which is financed nearly 100% by the Export-Import Bank of China.

The railroad is one of a host of infrastructure projects China spearheads around the world in an ambitious quest to reinforce its emergence as the world’s next economic superpower while President Trump turns his back on globalization. Continue reading

White House Prepares For Trade War, Warns US “Will Not Be Bound By WTO Decisions”

In the latest warning from the White House that it is set to unleash trade policy that will be in sharp conflict with generally accepted trade norms, most likely a reference to some form of Border Adjustment Tax, the Trump administration has warned that the U.S. isn’t and won’t bound by decisions made at the World Trade Organization, in outlining a new trade agenda that “promises to root out unfair practices by foreign countries” and to escalate what are already simmering trade conflicts. Continue reading

China CIPS v Western SWIFT System

COMMENT: Marty; Some people are trying to claim that China in bypassing the Swift System, they are undermining the dollar. The latest absurd statement is that Japan will bypass the dollar and SWIFT System to transact using China’s CIPS system in inter-bank settlement. I really had to laugh at how ignorant this statement is for it would mean Japan will no longer sell anything in the USA. It seems that these people so desperate to kill the dollar clutch at anything and we just laugh in the trading rooms. I think you should address this statement for the naive people out there who are clueless as to real international trade. Continue reading

EU Lawmakers Urge “Federal Union” For European States… Or Else

The beginnings of the United States of Europe, courtesy of a German Fourth Reich which dominates the European Union to serve its own purpose.

 

 

The leaders of the lower chambers of parliament of Germany, Italy, France, and Luxembourg have called for a European “Federal Union” in an open letter published in Italian newspaper La Stampa on Sunday.


In less than a month, on March 17 next, we Presidents of the national parliaments of the EU we will meet in Rome, how will the representatives of governments, for the sixtieth anniversary of the Treaty from which it began: our Union.  

But it is plain for all that recurrence requires much more than just a historical commemoration. Birthday comes the most critical stage ever crossed by the European project.  Continue reading

Stockman: “After March 15 Everything Will Grind To A Halt”

 

Two weeks after David Stockman warned that “the market is apparently pricing in a huge Trump stimulus. But if you just look at the real world out there, the only thing that’s going to happen is a fiscal bloodbath and a White House train wreck like never before in U.S. history” and exclaimed that, when looking at markets, “what’s going on today is complete insanity” he is back with another interview, this time with Greg Hunter of USA Watchdog in which he, once again warns, that a giant fiscal bloodbath is coming soon, and urges listeners to pay especially close attention to the March 15, 2017 debt ceiling deadline, at which point everything could “grind to a halt.” Continue reading

Shilling: We’re Already in a Trade War with China

Gary Shilling, editor of A. Gary Shilling’s Insight and author of The Age of Deleveraging, told Financial Sense Newshour that the US has the upper hand in a trade war with China that was already underway before Trump’s election.

Trade War Conditions

One of the big concerns about President Trump’s recent rhetoric has been the possibility of protectionist actions sparking a trade war. For Shilling, however, this was already happening, even before the election. Continue reading

Germany Considers Economic Retaliation Against Trump

Caption: German Finance Minister Wolfgang Schäuble (Sean Gallup/Getty Images)

 

If America unleashes a trade war starting with BMW, Germany is prepared to fight back.

Senior German politicians have threatened to unleash a trade war on the United States if President Donald Trump follows through his threats to German industry.

President Donald Trump famously threatened to put a 35 percent tax on the German car manufacturer BMW in an interview published by the Times of London and Bild on January 15. German politicians were quick to respond. The next day, German public broadcaster ZDF asked German Finance Minister Wolfgang Schäuble if the world is entering a time of more protectionism. Schäuble said he hoped not but also pointed out one way Germany could hit back.

“I also want to point out that currently American companies don’t have to tax their gains which they make outside of the U.S.,” he said. “That means that hundreds of billions of untaxed gains, of great American companies, rest in a tax oasis” (Trumpet translation throughout). Continue reading

Iran Renews Destructive Cyber Attacks on Saudi Arabia

AP

Tehran strategy seeks takeover of oil-rich U.S. ally

After a four-year hiatus, Iran recently resumed destructive cyber attacks against Saudi Arabia in what U.S. officials say is part of a long-term strategy by Tehran to take over the oil-rich kingdom and regional U.S. ally.

Late last month, the Saudi government warned in a notice to telecommunications companies that an Iranian-origin malicious software called Shamoon had resurfaced in cyber attacks against some 15 Saudi organizations, including government networks. Continue reading

Taiwan Joins Global War On Cash: Plans To Ban Purchases Of Houses, Cars, & Jewelry

 

The cancerous virus of freedom-destroying worldwide cash-bans – in the name of fighting terrorism – has reached Taiwan this week. With the aim of ‘preventing money-laundering’, Taiwan may ban cash purchases of properties and luxury goods, Taipei-based Economic Daily News reports, citing unidentified official at Ministry of Justice.

As we previously noted, the War on Cash is not merely continuing, it is intensifying. Continue reading