Trade Wars

By Alasdair Macleod – Re-Blogged From

An overt trade war has commenced. President Trump has fired the starting gun, setting in motion an election promise, part of his Make America Great Again undertaking. It is a blow squarely aimed against China, costing China some trade perhaps, but basically a loser’s last roll of the dice.

The back story appears to be far deeper than some relatively minor tariffs on steel and aluminium would suggest. It comes after a prolonged period of shadow-boxing between America in the blue corner and Russia and China in the red. To pursue the boxing analogy, China and Russia have been soaking up America’s punches on the basis America would simply tire herself out. It has been a replay of Muhammed Ali’s dope-on-a-rope strategy in the rumble-in-the-jungle, with America cast as George Foreman.

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Bad ‘Karma’ Brings Bad Consequences

By Hugo Salinas Price – Re-Blogged From

There is a lot of commentary going around the world, regarding Trump’s initiation of a “Trade War” to rebuild America’s industries. Trump thinks that tariffs will do the trick, and stop the rest of the world from taking unfair advantage of the US by selling their goods to the US in exchange for lots of US dollars. According to Trump, this nefarious behavior on the part of the rest of the world is causing a h-u-u-u-ge Trade Deficit, sending hundreds of billions of dollars out of the country. Trump’s view is that this is just plain “unfair”.

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China Wants the World’s Reserve Currency

By Michael Pento – Re-Blogged From PentoPort

In the aftermath of WWII the American economy was that shining city on a hill. After saving mankind from the Nazi’s, America had the only intact manufacturing base and was the repository for most of the world’s gold. Those circumstances propelled the US dollar to world’s reserve currency status. And for the past seventy years, this status has been the cornerstone for America’s power base and hegemony around the globe.

But the 1960’s ushered in a time of great fiscal mismanagement. President Johnson’s dual wars on poverty and Vietnam led to worldwide distrust about the greenback’s purchasing power in relationship to gold. This eventually led to Nixon’s baneful decision to close the gold window, which untethered the exchange between gold and the dollar.

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Gold Worm On The Yuan Hook

By Hugo Salinas Price – Re-Blogged From

Once again, I turn over in my mind the Chinese plan regarding their imported oil, which consists in convincing their oil suppliers to accept yuan in payment (and thus re-directing their sales outside the orbit of the US dollar) with an additional sweetener in case the oil exporters do not wish to hold assets denominated in yuan: the sweetener consists in offering to exchange the yuan received by the oil exporters, for gold purchased on the world markets – and not out of Chinese reserves.

Again, I mention that for the first time in 46 years – ever since that fateful date, August 15th, 1971, when Nixon took the US “off gold” – gold is once again mentioned as part of a commercial deal – and one of great importance.

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How China Moves The World To A Gold Standard!

By Bill Holter – Re-Blogged From

We have watched for years as China grew in strength economically, financially and militarily. They have pre-positioned themselves by making trade deals, setting up credit facilities and even an alternative clearing system to the West’s “SWIFT”. We also know China has been gobbling up global mine supply of gold for going on 10 years now. As I’ve written in the past, just using the back of a napkin, it can be surmised they now have hoarded 20,000 tons or more compared to the “supposed” 8,133 tons held by the US.

It is clear China has meticulously readied themselves to take the role of world leadership from the U.S. but do they really want the responsibility AND burden of issuing the reserve currency? This has always been the question and the answer from logical thinkers is “no”. No, because we (and of course China) have seen the result of the “burdens” that comes along with the privilege of issuing the reserve currency. I must confess, I too did not believe China would desire or even accept the responsibility of reserve currency status. I now believe this thought is mistaken! I will explain shortly.

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In Praise Of The Whistleblowers

By Charles Thorngren – Re-Blogged From

Whistleblowers run a two-pronged battle – on the one hand they are lauded for their honesty in exposing wrongdoing in the fields in which they are involved – on the other, they are hated and despised for their actions by those who want to cover misdeeds, or preserve the status quo.

The world of finance has a long history of such characters – some, like Michael Lewis, the ex-bond salesman from Wall Street, who worked for Salomon Brothers in the 1980s and exposed the work practices and ethos which subsumed banks and trading houses – have made their fortunes by such whistleblowing.

Others, like Hervé Falciani, an employee of HSBC’s Swiss private bank, who opened the door onto the bank’s money laundering techniques, and gave details of the hidden accounts of 130,000 wealthy individuals to the tax authorities, was jailed for 5 years for his activities.

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New Eastern Energy Cartel: Replacement To The Dead Petro-Dollar

By Jim Willie – Re-Blogged From

The Petro-Dollar is dead. It had served so well for over 40 years in maintaining the USDollar as global currency reserve, while keeping tight the controls on geopolitical power. The link between crude oil and the USDollar has been broken, painfully evident since 2016 with a harsh price decline that cannot rise about the $50 level. It remains stuck below that level despite heavy collusion in a demonstration that OPEC is dead defunct also. A void has been created in the energy sector, a most important sector. Enter Russia & China to fill the void. Both the crude oil market and the natural gas market have new alliances which feature nations acting in a cooperative manner.

The common element is Russia on the production side, complete with pipeline arrays. The common other element is China on the demand side with large customer needs and financial influence. This article describes the two emerging organizations, which the Jackass calls the Oil Consortium and the NatGas Cartel. It will serve the Eurasian Trade Zone. It will function outside the USD payment system. It is ripe for Gold payment structure in the near future. In no way do these qualify as coffin nails for the Petro-Dollar. The funeral for the corrupted abused hegemon USDollar might have taken place with the Trump charade in Saudi Arabia a month ago. The emerging energy organizations signal the new dawn after the funeral without eulogy.

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