Oct 162014
 
Pepe Escobar is the roving correspondent for Asia Times/Hong Kong, an analyst for RT and TomDispatch, and a frequent contributor to websites and radio shows ranging from the US to East Asia.short URL Published time: October 15, 2014 11:52 http://rt.com/op-edge/196148-saudiarabia-oil-russia-economic-confrontation/ A fisherman pulls in his net as an oil tanker is seen at the port in the northwestern city of Duba.(Reuters / Mohamed Al Hwaity) Rosneft Vice President Mikhail Leontyev: “Prices can be manipulative …Saudi Arabia has begun making big discounts on oil. This is political manipulation, Arabis is being manipulated, which could end badly.” A correction is in order; the Saudis are not being manipulated. What the House of Saud is launching is“Tomahawks of spin,” insisting they’re OK with oil at $90 a barrel; also at $80 for the next two years; and even at $50 to $60 for Asian and North American clients. The fact is Brent crude had already fallen to below $90 a barrel because China – and Asia as a whole – was already slowing down economically, although to a lesser degree compared to the West. Production, though, remained high – especially by Saudi Arabia and Kuwait – even with very little Libyan and Syrian oil on the market and with Iran forced to cut exports by a million barrels a day because of the US economic war, a.k.a. sanctions. The House of Saud is applying a highly predatory pricing strategy, which boils down to reducing market share of its competitors, in the middle- to long-term. At least in theory, this could make life miserable for a lot of players – from the US (energy development, fracking and deepwater drilling become unprofitable) to producers of heavy, sour crude such as Iran and Venezuela. Yet the key target, make no mistake, is Russia. A strategy that simultaneously hurts Iran, Iraq, Venezuela, Ecuador and Russia cannot escape the temptation of being regarded as an “Empire of Chaos” power play, as in Washington cutting a deal with Riyadh. A deal would imply bombing ISIS/ISIL/Daesh leader Caliph Ibrahim is just a prelude to bombing Bashar al-Assad’s forces; in exchange, the Saudis squeeze oil prices to hurt the enemies of the “Empire of Chaos.” Yet it’s way more complicated than that. Sticking it to Washington Russia’s state budget for 2015 requires oil at least at $100 a barrel. Still, the Kremlin is borrowing no more than $7 billion in 2015 from the usual “foreign investors”, plus $27.2 (more…)
Nov 132013
 
If the us dollar is on the road to collapse, then here is an alert for all of you   Russian lawmaker seeks to ban US dollar, predicts 2017 collapse To protect Russians against the “collapsing US debt pyramid”, a Russian legislator has filed a draft bill to ban circulation of the currency in Russia. Once a Moscow mayoral hopeful, Mikhail Degtyarev, 32, likens the US dollar to a worldwide ponzi scheme which he says is scheduled to end in 2017. “If US national debt continues to grow at its current rate, the dollar system will collapse in 2017,” the submitted draft legislation says.  “In light of this, the fact that confidence in the US dollar is growing among Russian citizens is extremely dangerous,”  Degtyarev wrote in his explanatory note attached to the bill.   The bill would impose a ban on dollars within a year of its passage, and any private citizen holding accounts in dollars would either need to spend the money or convert it to another currency. There is no proposed ban on the euro, British pound, yen, or yuan. If one doesn’t exchange or transfer dollars within a year, the dollars will be seized by officials, and reimbursed in rubles within 30 calendar days.  Under the proposed legislation, Russians would still be able to use dollars abroad and have foreign bank accounts, as well as buy goods on the Internet in dollars.  The Russian government, Central Bank, Foreign Ministry, Federal Treasury, Federal Security Service, and other state branches would be exempt from the law.  To protect Russian nationals, Degtyarev proposes to end dollar transactions and deposits at Russian banks, which would give rise to the ruble, and end dependence on the world’s dominant currency.  Part of the bill aims to restore the prestige of the ruble, which has weakened as the Russian economy battles inflation and slow growth.  Raising the prestige of the ruble by nixing foreign currency isn’t a novel idea- it was practiced during the Soviet Union when holding foreign currencies was illegal. A similar ‘anti-dollar’ proposal was filed by Duma deputies in 2003, but completely flopped.  Moscow, a developing financial center is home to several international corporations, and many companies pay their employees in dollars, or ruble salaries pegged to the dollar.  If the bill garners enough support, it will continue onto as many as three preliminary hearings before being passed into law.  Degtyarev has made a name (more…)
Jun 222011
 
A 5:13 video about the return to the Gold Standard and the implementation of Digital Currencies.   httpv://www.youtube.com/watch?v=Ug3lh18iovM Christopher Greene is a dynamic independent economist, activist, investigative journalist, frequent video-blogger and author of several monthly newsletters. With a unique background in finance and real estate, Christopher has pioneered and redefined the concept of Alternative Media. In 2008, Christopher awakened to the fraud and corruption evident in Washington, the Federal Reserve, our regulatory agencies and the Too-Big-to-Fail banks during the height of the financial crisis. Share this:FacebookLinkedInTwitterGoogleTumblrPinterestReddit (more…)