Russia Will Be Ruined by the Clean Energy Transition

By Eric Worrall – Re-Blogged From WUWT

According to Forbes, when renewable energy programmes like Germany’s Energiewende mature, demand for Russian fossil fuel will collapse.

Will Russia Survive The Coming Energy Transition?

Jun 27, 2019, 10:35am
Ariel Cohen Contributor

A new global energy reality is emerging. The era of the hydrocarbon – which propelled mankind through the second stage of the industrial revolution, beyond coal and into outer space – is drawing to a close. The stone age ended not because we ran out of stones. The same with oil and gas.

World Energy Consumption
World Energy Consumption. By Con-structBP Statistical Review of World Energy 2017, CC BY-SA 3.0, Link

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For Those Who Don’t Understand Inflation

By Alasdair Macleod– Re-Blogged From GoldMoney

This article is a wake-up call for those who do not understand the true purpose of monetary inflation, and do not realise they are the suckers being robbed by monetary policy. With the world facing a deepening recession, monetary inflation will accelerate again. It is time for everyone to recognise the consequences.

Introduction

All this year I have been warning in a series of Goldmoney Insight articles that the turn of the credit cycle and the rise of American protectionism was the same combination that led to the Wall Street crash in 1929-32 and the depression that both accompanied and followed it. Those who follow statistics are now seeing the depressing evidence that history is rhyming, though they have yet to connect the dots. Understandably, their own experience is more relevant to them than the empirical evidence in history books.

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Baoshang Bank Could Be China’s Indybank

By Michael Pento – Re-Blogged From Silver Phoenix

For the first time in nearly 30 years the Chinese central bank and the Banking Regulatory Commission announced it would take control of one of its banks. The troubled Mongolia-based Baoshang Bank had assets of 576 billion yuan ($84 billion) and its seizure is indicative of the deteriorating health of small-scale banks, mostly in rural areas and in smaller cities, as China’s economy slows.

The turmoil surrounding its conservatorship has led interbank lending rates to spike, forcing the Bank of China to inject billions of yuan to quell the fear of systemic contagion. For years China’s regional banks have used shadow-financing to obfuscate their exposure to precarious borrowers. While China has made an effort to rein in shadow-banking activity, this is the first time in decades that regulators have assumed control of a bank in this way. In 2015 and 2016, they recapitalized lenders and merged stronger banks with weaker ones, but these restructuring efforts were disorganized, inadequate, and didn’t address the main issue at hand…insolvency.

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New US Sanctions Spark Blowback Against Federal Reserve Note Dollar System

By Clint Siegner – Re-Blogged From Gold Eagle

US leaders are demanding the rest of the world recognize economic sanctions and stop buying Iranian oil. The U.K., Germany, France, Russia, China, and India are among the nations who don’t fully support the sanctions and would rather not pay higher prices for oil elsewhere.

American officials more and more often resort to delivering ultimatums, both to adversaries and allies alike. Nations that do not follow orders stand to lose access to the US financial system and could face trade sanctions of their own. That is a serious threat.

The huge majority of international trading is underpinned by US. banks and the dollar. Other currencies and banking systems cannot offer the same level of liquidity and convenience.

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Mexico to Limit Migrants Crossing Border

By Thomson Reuters – Re-Blogged From Newsmax

Mexican and U.S. officials held a second day of talks on trade and migration on Thursday, with markets rebounding on optimism a deal could be close, although it was unclear if Mexican pledges to curb migration flows were enough to persuade the Trump administration to postpone tariffs.

U.S. President Donald Trump has warned that tariffs of 5% on all Mexican exports to the United States will go into effect on Monday if Mexico does not step up efforts to stem an increase in mostly Central American migrants heading for the U.S. border.

Bilateral talks in Washington began on Wednesday to attempt to strike a deal, with the Mexican government, U.S. business groups and even many of Trump’s fellow Republicans keen to avert the tariffs, the prospect of which has rattled global financial markets.

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US Fighter Jets Intercept Russian Bombers Approaching American Airspace

By Jack Davis – Re-Blogged From Main Street Patriot

Six Russian warplanes were intercepted by U.S. jets Monday after they flew into the Alaskan Air Defense Identification Zone in a tactic the commander of the North American Aerospace Defense Command says will continue to be repeated.

A NORAD press release said the U.S. put four F-22s and an E-3 Airborne Early Warning and Control System in the air to intercept four nuclear-capable Tupolev Tu-95 bombers and two Su-35 fighters.

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Legislation Requires Full Audit Of America’s Gold Reserves

By Stefan Gleason – Re-Blogged From Gold Eagle

Washington- U.S. Representative Alex Mooney (R-WV) introduced legislation this week to provide for the first audit of United States gold reserves since the Eisenhower Administration.

The Gold Reserve Transparency Act (H.R. 2559) – backed by the Sound Money Defense League and government accountability advocates – directs the Comptroller of the United States to conduct a “full assay, inventory, and audit of all gold reserves, including any gold in ‘deep storage,’ of the United States at the place or places where such reserves are kept.”

HR 2559 requires more than just a physical assay, inventory, and audit, however. Even if all United States gold can be physically accounted for, it may nevertheless be encumbered with third-party obligations – or otherwise be impaired by bank financialization.

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