Iran has said it will not accept any attempts to halt country’s oil exports (Reuters)
To keep nuclear deal intact, EU establishes legal mechanism to keep trade with Iran, including in oil
The remaining parties to the Iran nuclear deal said on Monday that they agreed to continue work to create a special mechanism to maintain trade with Iran, including in oil, following the US withdrawal from the 2015 pact.
Paving the way for recognition and legitimacy of a European Army:
EU foreign policy chief, Federica Mogherini, said on Thursday (24 September) the EU naval operation in the Mediterranean Sea is to start capturing smugglers from 7 October.
“The political decision has been taken, the assets are ready”, she said, according to the AFP news agency.
The financial system is predominantly comprised of digital money. Actual physical Dollars bills and coins only amount to $1.36 trillion. This is only a little over 10% of the $10 trillion sitting in bank accounts. And it’s a tiny fraction of the $20 trillion in stocks, $38 trillion in bonds and $58 trillion in credit instruments floating around the system.
Suffice to say, if a significant percentage of people ever actually moved their money into physical cash, it could very quickly become a systemic problem.
Indeed, this is precisely what caused the 2008 meltdown, when nearly 24% of the assets in Money Market funds were liquidated in the course of four weeks. The ensuing liquidity crush nearly imploded the system. Continue reading
While Greece is collectively scratching its head why Tsipras et al were at loggerheads with Europe for 4 months, during which time the Greek economy entered a recession and saw its banks not only depleted of all cash but become de facto wards of the ECB, just to reach an “agreement” that could have taken place back in February, and attention shifts to just how Tsipras will pass last night’s impromptu capitulation through hard-line leftist parliamentarians, Greece now has another problem: how to unpivot the aggressive pivot toward Russia in the past few months, which culminated with the signing of an energy deal last week in St. Petersburg.
It goes without saying that if Greece is scrambling to go back into the Troika’s good graces, Belgium will make it very clear that any overtures to Putin are to be “cease and deceased” (sic) immediately. Which opens a can of worms for the Marxists in government: how to slam shut the door to their ideological Plan B, when everyone knows the Grexit fiasco will repeat again in a few months, and Greece will again be knocking on the Kremlin’s door. Continue reading
Global Geopolitics 