EU SUPERSTATE: Brussels ‘to force EVERY member state to adopt euro by 2025’

Eurozone

The EU wants every member state to adopt the Euro by 2025, reports claim [GETTY]

 

BRUSSELS officials want every European Union country to be using the euro by 2025, a bombshell new report has claimed.

Nine of the 28 member state in the EU are currently not part of the single currency.

The UK and Denmark are exempt, but the remaining seven nations all agreed to adopt the euro when they joined the bloc. Continue reading

Merkel worried about Brexit Britain gaining Economic Advantage

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360b / Shutterstock.com

 

Speaking to a group of businesses in Berlin, Merkel said that once the UK formally leaves the bloc, which will currently set to be by the end of March 2019, we will be able to have a bonfire of EU regulations which will make us even more competitive on the world stage, gaining a possible economic edge. Continue reading

Saudis May Enter The Shale Game

 

Flooding the market has quickly emptied the kingdom’s checkbook

In case you missed the past three years, on Thanksgiving Day 2014, OPEC announced it would not cut oil production in the name of gaining customers and growing market share for its members (widely interpreted as Saudi Arabia).

That announcement set off a two + year global commodities price downturn that sent oil from triple digits all the way down to $26 and fostered two years of pain and indigestion in the shale beds of North America that companies are just now getting past. Continue reading

EU prepares to unleash ‘NUCLEAR OPTION’ on Hungary: Brussels loses patience with Orban

EU Hungary

The EU is considering removing Hungary’s voting rights [GETTY]

 

THE EUROPEAN UNION is considering the extraordinary step of stripping Hungary of its voting rights in Brussels following a “serious deterioration” in the country’s stance with the bloc.

MEPs last night voted heavily in favour of taking sanctions against the state for a “serious and persistent” breach in EU values including accepting migration quotas.

These sanctions could involve reducing voting rights for EU diplomats, known around Brussels as the “nuclear option”.  Continue reading

America’s Dying Aluminum Industry

And America still has no replacement for the Russian rockets it uses to send things into space with. America is hemorrhaging.

 

High purity aluminum is used to make jets such as this Boeing F-18. (ASANKA BRENDON RATNAYAKE/ANADOLU AGENCY/GETTY IMAGES)

 

Cheap Chinese aluminum is undermining national security.

At the dawn of the 20th century, the United States of America emerged as a world power. At the heart of its rise was a powerful manufacturing economy. Following the rapid expansion westward of Manifest Destiny, the collective resources of the continent were combined with the innovative and entrepreneurial spirit of the American people. The steel smelters of Pittsburgh, and the automobile factories of Detroit were symbols of America’s manufacturing might.

While American manufacturing drove forward peacetime prosperity, it wasn’t long before it would be mobilized for war. The armies of freedom were fortunate that the American industrial machine was on the side of the Allies, for it proved unmatched in the world. It is doubtful that the Allies could have won World War II if America was less industrialized. Despite the vital nature of American manufacturing, it has crumbled into oblivion since 1945.

The continuous outsourcing of American manufacturing and the over production of other countries has eroded away any industry America had. The smelters around Pittsburgh have long disappeared, and Detroit has become a ghost town. While this has led to fewer jobs and domestic issues, it is also becoming a national security threat. Continue reading

The Germans Are Coming… And Their Groceries Will Cost Up To 50% Less Than Wal-Mart

 

Back in February we reported that as America’s deflationary wave spread through the grocery store supply chain, the scramble for America’s bottom dollar was on, and it prompted America’s largest low-cost retailer Wal-Mart to not only cut prices, but to squeeze suppliers in a stealthy war for market share and maximizing profits, a scramble for market share which is oddly reminiscent of the OPEC 2014 price fiasco and is certain to unleash a deflationary shock across wide portions of the US economy. Continue reading

EU Gearing up for Sanctions on Hungary

Ikars / Shutterstock.com

 

Escalating tensions within the bloc.

It would be an extraordinary move. Brussels has long targeted hugely popular Hungarian Prime Minister Viktor Orban who has been steadfast in strengthening Hungary’s borders and recently re-asserted the right of nation states to determine their own futures rather than the European Union. Continue reading

U.S. Shale Is Immune To An Oil Price Crash In 2017

A brilliant move by U.S. shale oil producers has given them a great hedge. How long it can hold is anyone’s guess as OPEC is sure to try and counter it. The good news is that the U.S. remains one step ahead.

 

Eagle Ford

 

Since OPEC announced the production cut deal at the end of November, industry analysts have been warning that rising production from producers outside the deal—U.S. shale in particular—is effectively capping the oil price gains from that agreement.

Four months after the OPEC/NOPEC deal took effect, oil prices dropped to the levels preceding the agreement, amid concerns over still stubbornly high inventories and rising U.S. output.

Shale production has been gaining ‘significant momentum’, and there is a limited downside risk in the short run, Norway-based consultancy Rystad Energy said in a report last week. Continue reading

Draghi Says Anyone Leaving the EU Must Pay But EU Will Not Refund Surpluses

 

In the Netherlands, the Forum For Democracy leader Thierry Baudet confronted Mario Draghi of the ECB asking that since he had said anyone leaving must pay the ECB and exit fee of whatever they owe, he said the Netherlands had €100bn surplus at the ECB they should get back is. Mario Draghi stated bluntly, NO! In other words,  the view at the ECB is what is yours is their’s and what is theirs is theirs.  We have put together a very important report on the Euro covering all the issues and why it is really doomed. Continue reading

OPEC calls for ‘collective efforts’ to counter US oil boom

Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016. REUTERS/Nick Oxford/File Photo

 

On Thursday OPEC called for its members to pool ‘collective efforts’ to counter increasing U.S. Oil production

(WASHINGTON, DC) While decreased stocks and an improving global economy were supporting oil demand, “continued rebalancing in the oil market by year-end will require the collective efforts of all oil producers to increase market stability,” Organization of the Petroleum Exporting Countries (OPEC) said.

Amid this announcement, oil prices rose on Thursday, with benchmark Brent crude trading comfortably above $50 a barrel after a fall in U.S. inventories and a bigger-than-expected cut in Saudi supplies to Asia helped tightened the market. Continue reading

China is about to hold a giant meeting on spending billions to reshape the world

 

China has rapidly climbed the ranks to become the world’s second-largest economy. Now, the most populous nation on the planet wants to increase its influence by digging further into its pockets — flush with cash after decades of rapid growth — to splash out with its “One Belt, One Road” policy.

The initiative is meant to connect Asia, Europe, the Middle East and Africa to bolster trade and development. This weekend, hordes of foreign diplomats and business leaders are expected to descend on Beijing for a two-day meeting about the policy.

Here’s what you need to know:

What is “One Belt, One Road?” Continue reading

“There’s No Growth”: World’s Largest Oil Trader Has A Stunning Warning For OPEC

 

When it comes to the oil market, the narrative over the past year, ever since OPEC’s first aborted meeting last April, has been just one: limit crude supply in hopes of rebelancing the oil market, reducing excess inventories, in the process sending the price of oil higher. However, echoing what we have warned for many months, overnight the world’s biggest independent oil trader said OPEC’s efforts could be in vain because the oil producing cartel is seeking to control the wrong thing: it’s not a matter of supply, but global demand which is simply not there.

According to Vitol Group, the world’s biggest independent oil trader demand isn’t expanding as much as expected, and U.S. shale output is growing faster than forecast, Bloomberg reports. As a logical outcome, that’s increasing the burden on the world’s biggest producers, who need to stick to their pledges to cut supply just to keep prices from falling, said Kho Hui Meng, the head of the company’s Asian arm. Meanwhile, shale continues to capture OPEC, and mostly Saudi, market share as do countries such as Iran and Libya which are not bound by the Vienna agreement production quotas. Continue reading

The Coming China-Germany Trade Juggernaut

 

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In a post-American trade war, this emerging bloc will wield devastating power.

Stories of international angst over United States President Donald Trump’s protectionist approach are becoming more commonplace. Mr. Trump’s “buy American, hire American” catchphrase sounds good for many at home, but abroad, it is prompting a weighty reorganization of international trade relationships. And long term, the result will be a trade war that will prove ruinous to the U.S.

World trade has changed a great deal over the last several decades. The international community at large no longer depends on America’s giant import expenditures and exports. Parag Khanna of Politico wrote:

As Americans, it’s easy to assume that global trade still depends on America as the consumer of last resort. But that’s no longer true. In fact, the majority of trade in emerging-market nations is with each other, not with the U.S. In 1990, emerging economies sent 65 percent of their exports to developed nations like the U.S. and Europe, and only 35 percent to other developing countries. Today, that figure is nearly reversed. Continue reading

Brussels’ Provocations

BERLIN/LONDON (Own report) – German business associations are calling on the EU Commission to end its Brexit provocations. An unorderly Brexit would entail enormous costs for the German economy, the President of the German Chambers of Industry and Commerce (DIHK) warned; therefore an amicable Brexit agreement with London must be reached. The Federation of German Industries (BDI) expressed a similar view. The head of the EU’s Commission’s recent audacious financial demands and deliberate indiscretions have stirred massive resentment in the United Kingdom and were rightfully considered an attempt to influence Britain’s upcoming parliamentary elections. Observers attribute these indiscretions to EU Commissioner Jean-Claude Juncker’s German Chief of Staff, Martin Selmayr (CDU), who is currently playing a key role in the Commission’s Brexit negotiations’ preparations. The German Chancellery is now calling for restraint in view of the severe damage a hard Brexit could entail for the German economy. Continue reading

Spain’s secret plans for Gibraltar REVEALED as Madrid draws up Brexit terms for the Rock

Theresa May and Gibraltar

Spain looks like it will block a Brexit deal that is not in Spanish interests (Getty)

 

SPAIN has laid out what it sees as non-negotiable terms in the upcoming Brexit talks which include barring Gibraltar using “unfair competitive practices” against Spanish businesses.

Spain plans to end Gibraltar’s ‘privileged’ existence as a ‘tax haven’ and has drawn up a document called ‘Negotiations on the Withdrawal of the United Kingdom from the EU’ which has been sent to congress.

In the document, leaked to Spanish press, the foreign ministry makes clear that “Gibraltar is a matter of state” and that the special regime the Rock currently enjoys “is a condition that Spain had to accept at the time [1986] to be able to join the then European Communities”, given that the United Kingdom had become a member back in 1973. Continue reading