By Patrick L. Young A market flooding production strategy many saw as intending to kill the US-centric shale revolution, has, if anything, only made it stronger. In essence the OPEC cartel is signing its own death warrant. As always the communique suggests harmony and continuity but behind the scenes this was apparently a more fraught OPEC … Continue reading
By F. William Engdahl Russia is about to take another major step towards liberating the Ruble from the Dollar System. Its Finance Ministry just revealed it is considering issuing Russian state debt in Chinese Yuan. That would be an elegant way to decouple from the dependence and blackmail pressures from the US Treasury financial terrorism operations … Continue reading
By Xiao Xun China’s currency is no longer undervalued given its recent appreciation, but the government should pick up the pace in loosening controls on the exchange rate, the International Monetary Fund said. Economists critical of the IMF’s assessment said it did not reflect the real value of the Chinese yuan, and that the IMF was … Continue reading
China can ultimately overthrow the global domination of the U.S. dollar by using its 30,000 tons of gold reserves, according to Chinese economist Jin Zihou. Citing former U.S. Federal Reserve Chair Alan Greenspan, Chinese economic observer Jin Zihou suggested that the Chinese renminbi would be able to deal a lethal blow to today’s financial system should Beijing convert … Continue reading
By Valentin Katasonov There has been a rise in tensions in relations between the U.S. and China in all directions. Some of the problem issues relating to the monetary and financial sphere include: the yuan’s status as a reserve currency; the convertibility of the yuan; the artificially low exchange rate of the yuan against the U.S. … Continue reading
By Mark Fleming-Williams, Stratfor Global Intelligence Former U.S. Treasury Secretary Lawrence Summers wrote on April 5 that this month may be remembered as the moment the United States lost its role as the underwriter of the global economic system. His comments refer to the circumstances surrounding China’s launch of a new venture, the Asian Infrastructure Investment … Continue reading
China’s Central Bank, the People’s Bank of China (PBOC), will reportedly inject $62 billion of its foreign exchange reserves into two state-owned policy banks in order to support its New Silk Road project, which is aimed at creating infrastructure in order to boost connectivity between Asia, Europe, the Middle East, and Africa. The PBOC will inject $32 billion to China … Continue reading
By Bill Holter Much speculation abounds regarding China’s gold holdings. They officially claim 1,054 tons as of April 2009. We suspected they might “re” announce their holdings again last year at this time as it was five years after their last announcement and China has a habit of “five year plans”. Alisdair Mcleod believes they have … Continue reading
By Sajjad Ashraf Stung by his complete failure to muster the parliamentary support needed to join in a Saudi-led intervention in Yemen’s civil war, Pakistan’s Prime Minister Nawaz Sharif is now counting the costs of his $1.5 billion folly. Sharif was put on the spot when the official Saudi news agency released a statement, after … Continue reading
India’s ancient, historic, sacred temples are spiritual structures that were designed to bring humans and gods together. They are also home to a treasure trove of billions of dollars’ worth in jewelry, gold bars, and coins which have been collected over the centuries and are hidden away securely in vaults, some ancient and some modern. Back in July 2011, a story that sounds like a plot line of an Hollywood adventure like Indiana … Continue reading