And, again, who runs Europe? Germany.
The United States of Europe is still coming.
Vladimir Putin’s press secretary said Kiev didn’t accept Russia’s restructuring option
MOSCOW, December 8. /TASS/. The Kremlin has warned that Ukraine will default unless it repays its debt to Russia.
“A default situation lies ahead (for Ukraine), just what we were speaking about,” Kremlin spokesman Dmitry Peskov said on Tuesday. Continue reading
DB’s Jim Reid lays out the “endgame” scenario, one which this website first said is inevitable back in 2009. With Citi and Macquarie already on board, expect what was once merely the figment of a “deranged tinfoil conspiracy-theory blog’s” imagination, to become global monetary policy. And yes, the real endgame is the one we have said from day one: total fiat (and conventional economics) collapse.
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From Deutsche Bank’s chief credit strateigst Continue reading
Zhou Xiaochuan, governor of China’s central bank, told a meeting of Group of 20 finance ministers in Ankara that a stock-market bubble in his country had “burst,” according to Japan’s Taro Aso. Another official present at the talks said China had presented the country’s situation as a new normal.
China is on the defensive as its slowing economy and market turbulence send shock waves through emerging markets just as the U.S. is preparing to raise interest rates. With the MSCI emerging market index down 18 percent so far this year, a draft communique prepared before the meeting cited “recent volatility in financial markets” and the need to monitor potential spillovers.
I have been warning that the governments of the West are in severe trouble. We face the worst economic crisis perhaps in modern history with the distinct risk of moving into a state of Economic Totalitarianism. The governments are well aware of the Economic Confidence Model (ECM). Many people have asked the question why have they not killed me since it appears that most others central to events covered in the movie, the FORECASTER, are dead. I believe the answer is rather simple, for even when I was released and appeared on Capitol Hill, I was introduced as this is the guy with the model they are trying to suppress.
Government is not a single entity. The forces I stood up against were restricted to the corruption in New York City. The New Yorker Magazine was able to get in to interview me only by going to Washington. And when I was thrown in the hole, it was a letter from Congress asking who ordered that treatment resulted in my instant release. And as for my release from contempt, that only took place when the Supreme Court ordered the government to respond to my petition for then the Solicitor General is the only one who can argue before the Supreme Court, not the corrupt prosecutors from New York City. So it is never just a single entity we call government. There are always internal forces that fight over the crumbs of power like pigeons on the ground under the tables at a sidewalk cafe.
I have advised many governments in my life so there are those on the economic side of power who are well aware of what I stand for, not merely the prosecutors who salivate over the opportunity to take down someone famous to further their personal careers. I was perhaps the first and only analyst or Forecaster to be invited by the Bank of China to fly to Beijing during the Asian Currency Crisis back in 1997. I may even be the only analyst who has ever had such experience on a truly global scale. I have been just about everywhere and at times it has appeared that if there was a crisis, somehow I seemed to be dragged in by some government somewhere. There is scarcely a major nation who is not aware of the ECM. Continue reading
Having attacked its “closest ally” UK for “constant accomodation” with China, we suspect President Obama will be greatly displeased at yet another close-ally’s decision to partner up with the Chinese-led Asian Infrastructure Investment Bank (AIIB). As The Australian reports, “make no mistake,” the decision by Australia’s Abbott government to sign on for negotiations to join China’s regional bank, foreshadowed by Tony Abbott at the weekend, “represents a colossal defeat for the Obama administration’s incompetent, distracted, ham-fisted diplomacy in Asia.” Continue reading
Unless China changes course, it is set to tighten fiscal policy by 5.5pc of GDP this year, five times Britain’s austerity dose annually since the Lehman crisis
Nobody can fault China’s leaders for lack of bravery. The Politburo has kept its nerve as the world’s most giddy experiment in credit-driven growth faces assault on three major fronts at once.
Real interest rates have rocketed. The trade-weighted rise in the yuan over the past two years has been spectacular. Fiscal policy is about to tighten drastically as the authorities clamp down on big-spending local governments.
We can start to see how the one-world currency comes into play with BIG BANG. The more these governments try to manipulate the outcome of the free markets, the worse everything becomes. I met with members of the board in charge of the Swiss/Euro Peg just before the Berlin Conference. I explained that no peg has ever lasted and Bretton Woods stands as witness to that in recent memory no less the Pound/DMark Peg that made George Soros famous. Pegs only suppress the free market, they cannot prevent the eventual outcome. Continue reading
Russian president echoes Al Capone as he says ‘weapons and politeness’ are better than ‘politeness alone’
Vladimir Putin issued a defiant message to the West on Tuesday, accusing the United States of trying to “subjugate” Russia while promising it would never succeed.
The Russian president also appeared to channel Al Capone, the Chicago mobster, when he joked that “weapons and politeness” were more effective than “politeness alone”.
Meeting supporters at a forum in Moscow, Mr Putin corrected another speaker who said that the United States wanted to humiliate Russia.
PM says ‘red warning lights are flashing’ against a backdrop of instability and uncertainty, as G20 summit draws to a close
David Cameron has issued a stark message that “red warning lights are flashing on the dashboard of the global economy” in the same way as when the financial crash brought the world to its knees six years ago.
Writing in the Guardian at the close of the G20 summit in Brisbane, Cameron says there is now “a dangerous backdrop of instability and uncertainty” that presents a real risk to the UK recovery, adding that the eurozone slowdown is already having an impact on British exports and manufacturing. Continue reading
A fleet of Russian warships continued to steam south closer to the G20 host city of Brisbane on Thursday as experts stressed the show of force was aimed at the world as a whole, not just Australia.
Reports indicate that Australia is sending two additional warships to its surveillance mission, with supply ship the HMAS Sirius joining the HMAS Parramatta and HMAS Stuart, and the HMAS Sydney preparing to also potentially join them.
Defence sources said the four ships, which include the Pacific flagship missile cruiser Varyag, were on a course that would put them in international waters off Brisbane by the time the international gathering gets under way on the weekend. Continue reading
London: There is strong evidence that the missile launcher that shot down flight MH17 was provided by the Russian military, a long, crowd-sourced investigation into the tragedy has concluded.
However the investigators could not say who ‘pushed the button’ to launch the missile: whether it was Ukrainian separatists, or Russian soldiers working with them.
The new analysis comes as Prime Minister Tony Abbott prepares for his long-anticipated face-to-face encounter with Russian president Vladimir Putin over MH17: either at an APEC conference in Beijing on Monday and Tuesday, or at this weekend’s G20 meeting in Brisbane.
Mr Abbott promised last month to ‘shirtfront’ Mr Putin, saying “Australians were murdered… by Russian-backed rebels using Russian-supplied equipment”.
Mr Abbott has since toned down his language, saying last week he would tell Mr Putin that “Australia expects full Russian cooperation with the investigation” into the crash.
Switzerland, the world’s largest offshore wealth center, worth an estimated $2.2 trillion in assets, has signed an agreement to share financial information with nearly 60 other countries, which could completely change the country’s financial landscape.
The country has made a giant leap towards banking transparency after it signed a convention with the Organization for Economic Cooperation and Development (OECD) agreeing to exchange data with 60 member countries. Continue reading
A top Chinese banker said Beijing is “fully prepared” for a currency war as he urged the world to abide by a consensus reached by the G20 to avert confrontation, state media reported on Saturday.
Yi Gang, deputy governor of China’s central bank, issued the call after G20 finance ministers last month moved to calm fears of a looming war on the currency markets at a meeting in Moscow. Continue reading