A lot of people out there expected something to happen in September that did not ultimately happen. There were all kinds of wild theories floating around, and many of them had no basis in reality whatsoever. But without a doubt, some very important things did happen in September. As I warned about ahead of time, we are witnessing the most significant global financial meltdown since the end of 2008. All of the largest stock markets in the world are crashing simultaneously, and so far the amount of wealth that has been wiped out worldwide is in excess of 5 trillion dollars. In addition to stocks, junk bonds are also crashing, and Bank of America says that it is a “slow moving trainwreck that seems to be accelerating“. Thanks to the commodity price crash, many of the largest commodity traders on the planet are now imploding. I wrote about the death spiral that has gripped Glencore yesterday. On Tuesday, the stock price of the largest commodity trader in Asia, the Noble Group, plummeted like a rock and commodity trading giant Trafigura appears to be in worse shape than either Glencore or the Noble Group. The total collapse of any of them could easily be a bigger event than the implosion of Lehman Brothers in 2008. So I honestly do not understand the “nothing is happening” crowd. It takes ignorance on an almost unbelievable level to try to claim that “nothing is happening” in the financial world right now. Continue reading
The message from BRICS to America is quite clear:
You are a dying nation — a dead man walking with a worthless fiat currency we’re already dumping. We are putting you out of commission one step at a time, with this being one of them, and the world will do just fine without you.
The President of Brazil, Dilma Rousseff announces publicly the creation of a world internet system INDEPENDENT from US and Britain ( the “US-centric internet”).
Not many understand that, while the immediate trigger for the decision (coupled with the cancellation of a summit with the US president) was the revelations on NSA spying, the reason why Rousseff can take such a historic step is that the alternative infrastructure: The BRICS cable from Vladivostock, Russia to Shantou, China to Chennai, India to Cape Town, South Africa to Fortaleza, Brazil, is being built and it’s, actually, in its final phase of implementation.
No amount of provocation and attempted “Springs” destabilizations and Color Revolution in the Middle East, Russia or Brazil can stop this process. The huge submerged part of the BRICS plan is not yet known by the broader public. Continue reading
According to Robert Valencia, China is vying for greater economic influence in Latin America, to include possibly constructing and operating an alternative ‘Panama Canal’ through Nicaragua. One unanticipated consequence of this burgeoning US-China rivalry, Valencia observes, is that it might push Latin American countries closer together.
During the first weekend of June, U.S. President Barack Obama and Chinese President Xi Jinping met in California to discuss cyber espionage and territorial claims in the Pacific Rim. While tension on these topics has hogged the headlines, the fight for influence in another area could be even more important—Latin America. Other emerging markets in Africa, where China has an overwhelming influence due to foreign direct investment in mining and oil, also offer economic opportunities, but Latin America has an abundance of natural resources, greater purchasing power, and geographic proximity to the United States, which has long considered Latin America as its “backyard.” Continue reading
Russia is also who will precisely benefit from an actual war on Iran. Not only through weapons and technology sales in the prelude to war, but through the oil and gas trade. Thus, it is also in Russia’s interests to escalate tensions with their middle east proxies against the west.
(Reuters) – As the European Union prepares to ban Iranian oil and the United States turns the screw on payments, oil executives and policymakers say China and Russia stand to gain the most and Western oil firms and consumers may emerge the biggest losers.
Iran will continue to sell much the same volume of oil – 2.6 million barrels per day or around 3 percent of world supply – but almost all of it will flow to China, they reason. And being pretty much Iran’s only remaining customer, Beijing will be able to negotiate a much reduced price.
The EU will ban Iranian oil from July. The United States plans sanctions on Iran’s central bank and possibly its shipping firm. European headquartered oil firms such as France’s Total and Royal Dutch Shell have already abandoned Iranian oil purchases or are in the process of doing so.
Continue reading article: Oil industry sees China winning, West losing from Iran sanctions (Reuters)
You can’t just be making all these bad decisions, one after the other, accidentally; but rather by design. It’s clear by now that the oil and gas industries (nor oil independence) are not a priority as Obama’s financial and political backers (i.e. Soros, Solyndra et al) within the green movement instead need to be rewarded for their loyalty during the 2008 and upcoming 2012 presidential election. You might even be shocked to know that the only oil businesses making large headway are backed by George Soros, drilling and exploring in Brazil — and only for Brazil’s benefit.
BUENOS AIRES — Off the coast of Rio de Janeiro — below a mile of water and two miles of shifting rock, sand and salt — is an ultradeep sea of oil that could turn Brazil into the world’s fourth-largest oil producer, behind Russia, Saudi Arabia and the United States.
The country’s state-controlled oil company, Petrobras, expects to pump 4.9 million barrels a day from the country’s oil fields by 2020, with 40 percent of that coming from the seabed. One and a half million barrels will be bound for export markets.
The United States wants it, but China is getting it.
Less than a month after President Obama visited Brazil in March to make a pitch for oil, Brazilian President Dilma Rousseff was off to Beijing to sign oil contracts with two huge state-owned Chinese companies.
Continue reading article: China gets jump on U.S. for Brazil’s oil (Washington Times)
See also: Obama’s Keystone Denial Prompts Canada to Look to China Sales (Bloomberg)
See also: Up Next… Obama’s New Energy Regulations Will Put 32 Coal Plants Out of Business (Gateway Pundit)