Hong Kong Overtakes New York as City With Most Super-Rich People

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More proof that the Hong Kong transfer was a colossal loss for Great Britain, and a massive gain for China

Hong Kong has overtaken New York City to become the city home to more super-rich people than any other metropolis on the planet, according to a study published on September 6 by the Wealth X research firm.

The study tallies the number of individuals worth $30 million or more, labeling them ultra-high net worth individuals. In recent years, the number of these individuals living in Hong Kong has risen to about 10,000. Continue reading

Juncker: End internal borders, scrap national vetoes on tax & foreign policy

 

Jean Claude Junker when making his ‘State of the Union’ address to the European Parliament has called for internal borders to be “removed” and demanded national vetoes on foreign and tax policy to be scrapped, giving the European Commission more central powers.

He told the EU Parliament: “Where borders have been reinstated, they must be removed. Failure to do so would amount to an unacceptable step back for the Europe of today and tomorrow. Continue reading

Iran Sanctions, Emerging Markets And The End Of Dollar Dominance

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The trade war is a rather strange and bewildering affair if you do not understand the underlying goal behind it. If you think that the goal is to balance the trade deficit and provide a more amicable deal for U.S. producers on the global market, then you are probably finding yourself either confused, or operating on blind faith that the details will work themselves out.

Case in point, the latest reports that the U.S. trade deficit is now on track to hit 10-year highs, after a 7% increase in June. This is the exact opposite of what was supposed to happen when tariffs were initiated. In fact, I recall much talk in alternative media circles claiming that the mere threat of tariffs would frighten foreign exporters into balancing trade on their own. Obviously this has not been the case. Continue reading

Europe Is Working On Alternative To SWIFT For “Financial Independence” From The US

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German foreign minister Heiko Maas

 

In the aftermath of a report that Germany was working on a global payment system that is independent of the US and SWIFT, on Monday Germany and France said they’re working on financing solutions to sidestep U.S. sanctions against countries such as Iran, including a possible role for central banks, Bloomberg reported.

“With Germany, we are determined to work on an independent European or Franco-German financing tool which would allow us to avoid being the collateral victims of U.S. extra-territorial sanctions,” French Finance Minister Bruno Le Maire said Monday during a meeting with press association AJEF. “I want Europe to be a sovereign continent not a vassal, and that means having totally independent financing instruments that do not today exist.”

The discussions, which also involve the U.K., are a signal that European powers are trying to get serious about demonstrating a greater level of independence from the U.S. as President Donald Trump pursues his “America First” agenda. Continue reading

Russia Finance Minister: We May Abandon Dollar In Oil Trade As It Is Becoming “Too Risky”

Breaking the tie between oil and the U.S. Dollar means the collapse of the U.S. Dollar as the world reserve country. Collapsing of the U.S. Dollar as world reserve currency means the collapse of America. Ghadaffi attempted it, as well as Saddam Hussein and look how that worked out for them. Iran, Syria, China, Russia all want to. Economic warfare always precedes a hot war, in case you were wondering what’s around the corner.

 

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One month ago, the bond market and political pundits did a double take when according to the latest Treasury International Capital report, Russia had liquidated virtually all of its US Treasury holdings, selling off the bulk of its US government bonds in just two months, March and April.

And with the US threatening to impose a new set of “crushing” sanctions on Russia, including in retaliation for the alleged Novichok nerve gas attack in the UK, Russia not only intends to continue liquidating its US holdings, but to significantly reduce its reliance on the US Dollar. Continue reading

The ingredients for civil war

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Donald Trump’s unexpected victory in the US Presidential Election and the Brexit win here in 2016 brought the social divisions of both countries to the fore.

James Bartholomew was quick to highlight the dangers of Britain’s new great divide. In a Spectator article after the EU referendum result, he showed how it had exposed a split Britain – geographically between city and country, and socio-economically between the haves and the have-nots; and one overarching divide: between the metropolitan elite and the rest.

Changes brought about by globalisation and large-scale immigration had affected different classes in contrasting ways. Continue reading

Who Does America Belong to?

Not to Americans

The housing market is now apparently turning down. Consumer incomes are limited by jobs offshoring and the ability of employers to hold down wages and salaries.  The Federal Reserve seems committed to higher interest rates—in my view to protect the exchange value of the US dollar on which Washington’s power is based.  The arrogant fools in Washington, with whom I spent a quarter century, have, with their bellicosity and sanctions, encouraged nations with independent foreign and economic policies to drop the use of the dollar.  This takes some time to accomplish, but Russia, China, Iran, and India are apparently committed to dropping  or reducing the use of the US dollar. Continue reading

Crime Rate In The U.K. Soars While 90% Of Recorded Crime Goes Uncharged

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Homicide and crime rates – including sexual assaults, and knife and gun attacks – continue to rise in the United Kingdom, with 90% of recorded offenses not ending in charges.

report published last week lays bare the shocking numbers – crimes resulting in charges sat at 11%, with the percentage falling two points in just a year to 9%; down from 15% in 2015.

Since March of this year and the 12 months before, only 443,000 crimes out of 4.6 million recorded resulted in charges. Continue reading

US Preparing To Bomb Iran’s Nuclear Capabilities As Soon As Next Month: Report

When you hear of wars and rumors of wars, do not be alarmed. Such things must happen, but the end is still to come.

Mark 13:7

 

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As the White House convenes a policy meeting on Iran Thursday involving senior Pentagon officials and cabinet advisers under national security adviser John Bolton, and after a week of intense saber-rattling by President Donald Trump and his Iranian counterpart Hassan Rouhani, a new bombshell report by Australia’s ABC says the White House is drawing up plans to strike Iran’s alleged nuclear facilities as early as next month.

Senior figures in the Australia’s Turnbull government have told the ABC they believe the US is prepared to bomb Iran’s nuclear capability. The bombing could be as early as next month. —ABC report Continue reading

Will Donald Trump Make Germany Great Again?

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German ‘Bundeswehr’ army soldiers pictured at the training ground during the preparations of the ‘Landoperationen 2017’ military exercise in Munster, Germany, (Philipp Schulze/picture alliance via Getty Images)

 

The U.S. president wants Germany to be the world’s third-largest military spender.

United States President Donald Trump agrees a lot with the Trumpet when it comes to world news. Certainly not always. But consider his recent trip to Europe.

He warned that Germany was too close to Russia. Last year we called that alliance “The Russian Alliance You Really Have to Worry About.” He said that Europe is attacking America on trade. Ten years ago, Trumpet editor in chief Gerald Flurry warned that Europe was waging “a quiet but concerted war on American commerce.” President Trump complains that the U.S. spends billions defending Europe. In the 1950s, Herbert W. Armstrong warned that “in spending unprecedented billions of your dollars and mine—tax dollars—preparing Germany and Europe for defense,” America was making a huge mistake.

A few weeks ago, someone wrote in to ask me why I’m so pro-Trump. This is not about being pro-Trump or anti-Trump. We are saying what we have always said—he just happens to be saying it too.

So there was a lot to like about his Europe trip. But there is also a major danger.

Donald Trump’s Europe trip could be a milestone in making Germany great again, and in turning Germany against America. Continue reading

Did the President Just End Theresa May’s Career?

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He insists his comments to The Sun newspaper critical of the UK prime minister were ‘fake news’ that didn’t demonstrate his complete views.

The United Kingdom’s The Sun newspaper published a report today following an exclusive interview Thursday in which President Donald Trump criticized Prime Minister Theresa May’s approach to Brexit and how it may impact trade with the U.S. Continue reading

Trump Calls the European Union a Foe: ‘What They Do to Us in Trade’

 

President Donald Trump said during a Sunday interview with CBS News anchor Jeff Glor that the European Union is a foe.

“What’s your biggest competitor, the biggest foe globally right now?” Glor asked the president

“Well, I think we have a lot of foes. I think the European Union is a foe, what they do to us in trade,” Trump said. “Now, you wouldn’t think of the European Union, but they’re a foe.” Continue reading

Britain’s Navy at Half Strength

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Britain now has fewer than half of the naval vessels it had in 1990, the Telegraph reported on June 21. In that time, there has been a 60 percent decrease in the number of submarines, frigates and destroyers in the Royal Navy, according to a 2013 Ministry of Defense report. The service had two aircraft carriers in 1990: It currently has zero.

Britain’s defense budget has decreased dramatically. Today, Britain’s military spending is a little over half of what it was 25 years ago. Its defense spending has decreased from a Cold War high of 3.8 percent of its gross domestic product to only 2.2 percent, just above the nato minimum.

Despite keeping its nato commitment, Britain has lost its naval supremacy and is “at a historic ebb in firepower,” according to National Interest.

Britain does not recognize the need to maintain its defenses against military threats. Instead, it prioritized funding for foreign aid, the National Health Service and other domestic welfare programs. In the past, health, education and defense spending were equal. But expenditures in these non-defense areas have roughly doubled since 1990. Today, Britain spends almost six times more taxpayer cash on welfare than it does on defense. Continue reading

Coalition of Those Willing to Go to War

PARIS/BERLIN (Own report) – Germany is participating in a new European military formation that was launched yesterday. Originally a French proposal, the European Intervention Initiative (EII) will be open to EU and Non-EU member countries to join. Expanding the existing EU military cooperation (“PESCO”) with a new operational component, the EII should facilitate rapid decisions on joint military interventions. A first meeting of military commanders from the hitherto nine participant states is set for September. The EII includes Great Britain, which plans to continue its military cooperation with the continent, even after Brexit, as well as Denmark. Since the coordination of military interventions is now officially set outside of the EU framework, Denmark can sidestep the opt-out from EU military policy, it had once granted its population. Referred to by experts as a European “coalition of the willing,” it goes hand in hand with the EU Commission’s militarization plans worth billions and the high-cost German-French arms projects.

Continue reading

The European Intervention Initiative: a New Military Force Established in Europe

The European Intervention Initiative: a New Military Force Established in Europe

 

The predictions have come true about the emergence of a new defense group that will change the European security environment. On June 25, the defense chiefs from nine EU countries signed off on the creation of a new force called the European Intervention Initiative (EII), which is spearheaded by French President Emmanuel Macron. The new organization will have a common budget and a doctrine establishing its guidelines for acting and joint planning for contingencies in which NATO may not get involved. The group includes the UK, Germany, Denmark, the Netherlands, Belgium, Estonia, Spain, and Portugal. Italy may join soon. The initiative is not tied to the EU’s Common European Defense, which includes the PESCO agreement as well as NATO. Great Britain has always opposed the idea of creating a European defense alliance, fearing it would undermine transatlantic unity. Now it has done an about-face, as the rifts within the US grow deeper. Continue reading