Transatlantic Trade War

BERLIN/WASHINGTON (Own report) – In the looming trade war between the EU and the USA, Brussels is threatening to officially denounce the United States as a “tax haven.” The EU Commission is currently preparing this affront to the world power, following Washington’s strong criticism of Germany’s excessive trade surplus. In the six years, from 2010 to 2015 alone, this surplus has led to an outflow of nearly a quarter trillion euros to Germany from the United States because of the “grossly undervalued” euro, according to Trump’s trade advisor Peter Navarro. This has been confirmed by the Bundesbank’s recent analysis, showing that through its monetary policy the European Central Bank (ECB) has contributed to the euro’s undervaluation, which in turn has facilitated record German exports and the large US deficit. The trade conflict is flanked by a propaganda offensive against the Trump administration, exploiting the new US president’s racist and chauvinist policies to designate him as an enemy. This conflict could lead to the first major power struggle between Germany and the United States since 1945. Continue reading

Report: Obama Seeks Meeting With Iranian President

President Barack Obama has sent two letters to senior Iranian leaders in recent months requesting a meeting with Iranian President Hassan Rouhani, according to Persian language reports recently translated by a Middle East research organization.

“President Obama asked to meet with Iranian President Hassan Rouhani in two secret letters sent in late March to both Iranian Supreme Leader Ali Khamenei and President Rouhani,” according to the Middle East Media Research Institute, or MEMRI, which translated a Farsi-language report published Tuesday by a website affiliated with Iran’s Green movement. Continue reading

The Perils of Not Listening to Iran

  • The Iranian firing of a missile within 1500 yards of U.S. aircraft carrier Harry S. Truman in December, and the kidnapping and photographing of a U.S. Navy ship and crew (the photographs were a violation of the Geneva Convention) were test cases. Other than an apparent temper tantrum by Secretary Kerry, there was no American response. Oh, actually, there was. Mr. Kerry absolved his friend Iranian Foreign Minister Javad Zarif of responsibility.
  • The Iranians were confident that the Americans could be counted on not to collapse the whole discussion over violations along the edges. Their model was American behavior in the Israeli-Palestinian “peace process.” The Palestinians violate agreements and understandings with impunity because they know the Administration is more firmly wedded to the process than the specific issues on the table.

Supporters of President Obama’s Iran deal (JCPOA) are starting to worry — but that is because they believed him when his lips moved. They heard “snapback sanctions” and pretended those were an actual “thing.” They are not, and never were. They heard Treasury Secretary Jack Lew say the U.S. would never allow Iran access to dollar trading because of the corruption of the Iranian banking system and Iranian support for terrorism — and they wanted to believe him. And sanctions? The administration said that sanctions related to non-nuclear Iranian behavior — support for terrorism, ballistic missile development, and more — would be retained.

Continue reading

G20 Conspiracy Theory: The Secret “Shanghai Accord” to Kill the U.S. Dollar

As it goes, the alleged Shanghai Accord was a side meeting of only a handful of economic policymakers (in Shanghai – hence the name) that took place concurrently with the G20 Summit on Feb. 26.Attendees of the clandestine powwow included U.S. Federal Reserve Chair Janet Yellen, U.S. Secretary of the Treasury Jack Lew, Christine Lagarde from the IMF, Mario Draghi from the ECB, and central bank and finance ministry counterparts from China and Japan.

The chief reason for the Shanghai Accord was to allow these choice global policymakers a chance to plan the demise of the U.S. dollar.

That’s right, Yellen and Lew are in on it. Continue reading

US may allow Iran to trade in dollars: expert

Trading in dollars will make it easier for Iran to undermine the dollar by weakening it, trying to crash it, etc…

 

The United States appears to be laying the groundwork to let Iran begin trading in dollars, experts believe, after a landmark accord with the West last year saw the country limit its nuclear programme in exchange for the lifting of sanctions.

Treasury Secretary Jack Lew said in Washington Wednesday that US sanctions should not be used lightly, though a Republican-controlled Congress remains dead set against easing restraints on Tehran. Continue reading

U.S. Treasury’s intelligence network vulnerable to hack: audit

Lax security left the U.S. Treasury’s computer system for tracking overseas threats to America’s financial system vulnerable to hackers, according to a government audit prepared in late 2014 and obtained by Reuters.

The Treasury Foreign Intelligence Network is used by U.S. spy agencies to share top-secret information and to keep tabs on the impact of sanctions against countries such as Iran and Russia, as well as militant groups like Hezbollah.

“As a result … devices may not be protected with the most secure recommended configurations, increasing the risk of being compromised,” the Treasury’s Office of Inspector General, or OIG, said. Continue reading

Secret Deal for Mid-East Company to Operate Port Terminal in Florida

Port Canaveral

 

Sharjah, a UAE Port Operator, has acquired a 35-year concession at Port Canaveral, Florida, pictured above, near one of our naval bases. They will operate a container and multi-purpose cargo terminal. The administration did not conduct a full national security review as a condition of the deal.

Diane Sori has an article on the Dryer Report titled, “Selling off control of America one piece at a time”, about the recent $100 million concession awarded to Gulftainer with more details. 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