Latest Articles: Business/Finance
Game Changer: China to Buy Oil With Gold-Backed Yuan
Post Date: 2017-09-02 08:42:26 by Tatarewicz
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RI... Oil exporters such as Russia and Iran will soon be able to bypass the US dollar — and convert their yuan into gold. It begins. Via OilPrice.com: The world’s top oil importer, China, is preparing to launch a crude oil futures contract denominated in Chinese yuan and convertible into gold, potentially creating the most important Asian oil benchmark and allowing oil exporters to bypass U.S.-dollar denominated benchmarks by trading in yuan, Nikkei Asian Review reports. The crude oil futures will be the first commodity contract in China open to foreign investment funds, trading houses, and oil firms. The circumvention of U.S. dollar trade could allow oil exporters such as ...
Bitcoin price surpasses $5,000 for first time
Post Date: 2017-09-02 05:27:28 by Tatarewicz
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RT... The price of Bitcoin surpassed $5,000 for the first time, reaching a historic new high for the cryptocurrency, before quickly dipping back below the record-breaking mark. Bitcoin hit a high of $5,013.91, according to the CoinDesk index, on Friday and stayed above the mark for 10 minutes of trading, before falling back to a low of $4,867.19. Read more © Artur Cupak / Global Look Press Technology behind bitcoin could replace physical gold trading The cryptocurrency reportedly reached its highest market price of $5,149 thanks to Chinese bitcoin exchange OkCoin. Bitcoin’s surge in popularity is largely down to a growing interest in cryptocurrencies, improved technologies, and ...
World’s major banks working on blockchain-based settlement currency
Post Date: 2017-09-01 07:52:00 by Tatarewicz
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RT... Six big banks have joined a group developing a new settlement currency based on blockhain technology, which is behind bitcoin, ethereum, and other cryptocurrencies. Read more © Artur Cupak / Global Look Press Technology behind bitcoin could replace physical gold trading Barclays, Credit Suisse, Canadian Imperial Bank of Commerce, HSBC, MUFG and State Street have joined UBS, BNY Mellon, Deutsche Bank, Santander, NEX and blockchain startup Clearmatics in a project to create a the “utility settlement coin”. The currency was originally started by UBS. The project could pioneer the issue of cryptocurrencies by central banks. "It may well inform the way central banks ...
Mexico open to cooperation with BRICS: trade group
Post Date: 2017-08-30 02:54:19 by Tatarewicz
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MEXICO CITY, Aug. 29 (Xinhua) -- Mexico is open to cooperation with the BRICS countries, which comprise Brazil, Russia, India, China and South Africa, the president of the Mexican industrial business chamber Canacintra said on Tuesday. The potential to work with other regional blocs has taken on even greater relevance for Mexico today, as it seeks to diversify its trade alliances and export markets, said Canacintra chief Enrique Guillen. "We are not closed to collaborating with other blocs, least of all now that modernizing has become a priority for our country," Guillen said in a statement. Mexico would do well to forge closer ties with BRICS, as it seeks to bolster its ...
Burger King Russia Launches 'Whoppercoin' - the Fast-Food Industry's First Digital Currency
Post Date: 2017-08-29 06:03:34 by Tatarewicz
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RI... In what we believe to be a first for the global fast-food industry, Burger King Russia has reportedly created a virtual currency called the “Whoppercoin.” The company has reportedly issued one billion of the tokens using the Waves blockchain platform. According to Fortune, the coin was launched alongside a new loyalty program: For every Whopper purchased, customers will receive one Whoppercoin. However, it’s unclear if the company will accept the digital tokens as payment. “The Whoppercoin launched in tandem with a new loyalty program. For each Whopper burger customers purchase, they'll receive one Whoppercoin in a special cryptocurrency wallet. While the ...
Long-Term Uptrend in Russian Stocks Has Resumed
Post Date: 2017-08-27 07:14:23 by Tatarewicz
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RI... Russian equities have bounced nicely since the U.S. Senate passed the new sanctions bill back in June. Economic tailwinds and likely rate cuts should support a further rally in the second half of 2017. From my latest article at Seeking Alpha: But that marked the bottom in the Russian MICEX Index, not the beginning of the end. Since then the Russian stock market has risen 200 points (11.2%) and has resumed its uptrend from a monthly perspective. This has occurred even though Gazprom (OTCPK:OGZPY), one of its biggest contributors (15% of weighting) has gotten killed. This should underscore for you just how strong the situation is in Russian equities. Trade volumes for July were up ...
Was President Bush's great-grandfather a Nazi?
Post Date: 2017-08-26 13:01:28 by BTP Holdings
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Was President Bush's great-grandfather a Nazi? Remember how during the Clinton era there were all those rabid EOBs (Enemies of Bill) who seemingly devoted their every waking hour to propagating scurrilous stories about the president and his family? Well, an equally dedicated crew is now spreading sensational allegations about Dubya and his forebears. (Sample: the president's grandfather not only financed the Nazis, he used concentration-camp prisoners as slaves.) So each side gets a chance to drag the other through the mud. Is this a great country or what? Though the Bush family's detractors are legion, one of the most prominent is John Loftus, a former federal prosecutor and ...
TRUMP: ‘We’ll Probably End up Terminating NAFTA’
Post Date: 2017-08-24 06:34:45 by HAPPY2BME-4UM
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President Trump drew strong cheers during his Phoenix rally when he indicated that he will probably end up terminating NAFTA.Breitbart reported:Donald Trump sent a warning to Mexico on Tuesday night about the NAFTA renegotiations.Quote“Personally, I don’t think we can make a deal because we have been so badly taken advantage of,” Trump said during the Arizona rally. “I think we’ll probably end up terminating NAFTA at some point.”Trade representatives from the U.S., Canada, and Mexico met in Washington, D.C. last week to begin the renegotiation of the trade deal. The U.S. took a tough stance at the meeting, telling Canada and Mexico that NAFTA had ...
Hiring the Inner-City Unemployed
Post Date: 2017-08-23 09:34:04 by Ada
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The Dog that Does Not Bark In Sir Arthur Conan Doyle’s “Silver Blaze” Sherlock Holmes uses the fact that a dog did not bark during the night as evidence to unravel a crime, the theft of a race horse. Holmes reasoned that the perpetrator was known to the dog since the dog failed to bark, so QED, the theft was an inside job. The phrase “the dog that did not bark” has over the years come to mean the significance of a non-event, say, an unexpected omission in an important political speech. The current debate over immigration and illegal aliens illustrates a dog that does not bark. Specifically, newspapers like the Wall Street Journal regularly recount how businesses ...
War in Yemen a Bonanza for U.S. and U.K Arms Merchants
Post Date: 2017-08-22 07:14:36 by Ada
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Is this why Saudi allies won't help stop the war? The civil war in Yemen is now in its third year. As a direct result of the war and the blockade imposed by Saudi Arabia and its allies, Yemen is now the scene of the world’s most pressing humanitarian crisis. There is a cholera epidemic—a half a million Yemenis have been infected—millions face starvation, and the country’s infrastructure has largely been destroyed by Saudi Arabia’s indiscriminate aerial campaign. Al-Qaeda in the Arabian Peninsula (AQAP) controls large swaths of southern Yemen where it is now the best organized and most capable organization operating there. The war is a gift to AQAP but it is ...
China's high speed rail tech copied by foreign countries: experts
Post Date: 2017-08-22 07:00:06 by Tatarewicz
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(People's Daily Online) After China's leading high speed rail became a major driving force for the country's economy, some countries have started copying and replicating China's technologies, bringing severe losses to the country, said experts with a branch of Shanghai People's Procuratorate in an article published on the website of Procuratorial Daily on Aug. 16. The rapid development of China's high speed rail comes with the problem of IP protection. Ineffective protection of the core technologies will directly cause a negative impact on the sustainable development of the industry. According to the article, it took China years to fully grasp the core ...
Western World Failing Now – Clif High
Post Date: 2017-08-21 08:00:21 by Tatarewicz
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usawatchdog Renowned Internet data mining expert Clif High says the rise of crypto currencies is nothing more than a reflection of failing states in the West. High, who uses what he calls “predictive linguistics” to forecast future trends, contends, “Here we are in a failing state, and basically, all of the western republics are failing states. We are so far in debt we can’t ever recover. So, our ability to trade has weakened anyway, and yet, we are going to launch a trade war with Russia? This is really a lot of smart thinking there fellows. On top of that, we have this giant move in cryptos. As the dollar dies and keeps shrinking, it’s got to go somewhere, and ...
Concerns growing over scale of China’s debts
Post Date: 2017-08-20 04:09:20 by Tatarewicz
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PressTV... A prominent Chinese economist has warned that the country’s growing debt is already affecting not only its domestic economy but would also eventually affect other countries, as well. "Everyone knows there’s a credit problem in China, but I find that people often forget about the scale. It’s important in global terms," Charlene Chu said in an interview with the Financial Times. Chu, who made her name warning of the risks from China’s credit binge, predicted that by the end of the year, the country will accumulate $7.6 trillion worth of the so-called "bad" debt. The comment came the day after the International Monetary Fund (IMF) warned ...
Major Sanctions Escalation? Informed Sources Say Russian Bank Disconnected From SWIFT
Post Date: 2017-08-19 01:35:32 by Tatarewicz
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RI... What is the foreign policy game plan ranged against Russia? It looks like the first serious baby-steps to an existential sanctioned escalation may have just been quietly taken. It may very well be that the first Russian bank was disconnected from SWIFT. While I have not heard any confirmation, the word on the Moscow financial grapevine persists. The Russian "Tempbank" (www.tempbank.ru/eng/) whose management has been individually sanctioned by the US for ongoing trade with Syria and Iran was disconnected from SWIFT according to apparently “informed sources". It seems after the sanctions were removed from Iran a while ago Tempbank went ahead and legally opened ...
Ukraine's Trade With Russia Is Rapidly Increasing
Post Date: 2017-08-18 17:13:24 by Ada
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Kiev is doing more and more business with a nation it claims is at war with Ukraine Ukraine’s volume of trade with Russia collapsed after 2014. It will probably never recover, but it remains very significant for Ukraine, and what is more, is rising rapidly: Despite the improving trade with the EU, Russia still plays an extremely important role in Ukraine’s trade: the trade turnover with Russia was just under $5bn for the same period, with both exports and imports rising at the about the same pace as those with the EU. After a heavy decline, exports to Russia are rising again, which were up by 26.4% in the first half of this year to $1.93bn. However, this increase off a very ...
DIGITAL ACTIVISTS SLAM TECH FIRMS FOR BANNING NEO-NAZI WEBSITES
Post Date: 2017-08-18 16:18:17 by Ada
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Electronic Frontier Foundation warns against dangerous censorship As social media and internet companies scramble to ban or otherwise cut ties with extremist and far right-wing websites like the neo-nazi Daily Stormer, which were unceremoniously dropped by the likes of GoDaddy, Google and security firm Cloudflare earlier this week after helping to organize last weekend’s deadly “Unite the Right” rally in Charlottesville, a prominent nonprofit has come forward to defend them. The Electronic Frontier Foundation, or EFF, best known for its activism surrounding net neutrality has a simple message: even though you don’t agree with their message, banning people from the ...
Iran, Russia, Turkey mark a new turn with $7 billion drilling deal
Post Date: 2017-08-16 07:26:38 by Tatarewicz
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PressTV... Turkey’s Unit International which signed a drilling deal last week with Russia's state-owned Zarubezhneft and Iran's Ghadir Investment Holding says the contract is worth $7 billion. The drilling in Iran will take place at three oil fields estimated to hold 10 billion barrels of reserves and produce 100,000 barrels per day and a large natural gas field with a production capacity of 75 billion cubic meters per day, the company said on Tuesday. Unit did not name the field but said its reserves are enough to meet Turkey's gas demands for the next 150 years, with the production equal to 1.5 times the 50 billion cubic meters of gas which Turkey imports annually. ...
Are bitcoin & other cryptocurrencies overhyped & dangerous?
Post Date: 2017-08-16 07:12:28 by Tatarewicz
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RT... With the main stream media caught up in bitcoin hype as the cryptocurrency smashes another all-time high this week, few stories cover the possible dangers of the phenomenon. Anonymity is not always right In the most recent incident last week, hackers demanded a ransom of at least $6 million in bitcoin from HBO to stop leaking spoilers and episodes from the new season of Game of Thrones. Bitcoin transactions are ideal for criminals because they are hard to track. While some may not sympathize with a TV channel with a multibillion dollar market cap, the same blackmail technique could be used against any of us, and there is little likelihood the criminals would be caught. HBO offered ...
Check Out The Beginner's Guide to Cryptocurrency Investing
Post Date: 2017-08-15 06:34:00 by Tatarewicz
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. SCIENCEALERT We've heard a lot about cryptocurrencies recently. Bitcoin is the most popular, but there are lots of cryptocurrencies making a break for it on the currency market. But which one should you pick, how do you purchase coins, and how do they even work? Cryptocurrencies are digital currencies in which encryption techniques are used to regulate the generation of units and verify the transfer of funds. For the savvy investor they could be goldmines. That's why our ScienceAlert Academy deal for this week is the Beginner's Guide to Cryptocurrency Investing. In this guide, you'll learn the instructor's system for investing in altcoins, understand how to turn ...
Informative And Snarky
Post Date: 2017-08-12 16:37:24 by Ada
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This book is extremely informative and a snarky assessment of the Washington establishment which is quite entertaining. As a libertarian, Stockman is not always a Trump supporter but he despises Washington and thinks Trump is what it deserves. While this book is mainly economic it makes a lot of political points which are quite insightful once you think about them. The first is that we basically have a planned economy run by the unelected governors of the Federal Reserve which he describes as a “Monetary Politburo.” They control money printing, debt creation, interest rates, and mandate continuing inflation with their inflation target of two percent. This constant inflation ...
Russian oil is expanding into Syria, Iraq and Iran
Post Date: 2017-08-11 09:07:00 by Tatarewicz
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In general, Russia has the biggest share among foreign countries in securing preliminarily IPC oil fields in Iran by means of MoUs (totaling 9) and it is LUKOIL that won the most prolific ones (See Graph 1), in all likelihood a result of its long-standing ties to Iran which date back to the Caspian swap crude sales. Most fields that Russian companies will be involved in are brownfield - only Changuleh is a greenfield - and fall into the medium oil category. Graph 1. Russian Participation within the framework of the Iran Petroleum Contract. Iran is not the only Middle Eastern country that will witness an influx of Russian companies. Rosneft and Gazprom Neft are developing eight blocks in ...
Turf war at Uber as major investor sues firm's founder Kalanick for fraud
Post Date: 2017-08-11 08:39:35 by Tatarewicz
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RT... One of Uber’s largest investors is suing Travis Kalanick, accusing the company’s former head of being involved in a fraudulent scheme to “increase his power over Uber for his own selfish ends.” Benchmark Capital, a Silicon Valley venture capitalist, filed a suit in Chancery Court in Delaware on Thursday. Read more Uber CEO Travis Kalanick © Shu Zhang Embattled Uber chief takes leave of absence to ‘work on himself’ The firm claims Kalanick, who stepped down as Uber CEO in June but is still on the company board of directors, is trying to change the makeup of the board to his advantage. The document says the ousted Kalanick’s “overarching ...
Financial Presstitutes Cover Up for the Big Banks
Post Date: 2017-08-09 09:25:35 by Ada
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The big New York banks no longer perform the banking function of lending to consumers and businesses. Thanks to government policies that foster increased financial concentration, banking incentives have changed fundamentally. The big banks today are focused on higher risk-return speculation and on trading and fee-based income. Banks don’t lend not because, as banks and their lobbys claim, of new capital requirement rules, but because their ability to lend is foreclosed by the fact that the big banks pay out all or more than all of their net income in dividends and buy-backs of their own stocks in order to drive up executives’ bonuses. The extraordinary payouts of earnings ...
Russian serial entrepreneur launches 'kosher' cryptocurrency only for Jews
Post Date: 2017-08-08 07:18:06 by Tatarewicz
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RT... Russian entrepreneur Viacheslav Semenchuk has announced plans for an initial coin offering (ICO) of the world's first kosher digital currency aimed specifically at Jewish communities across the globe. The BitСoen, which comes from the Hebrew word ‘priest,' has been created to simplify payments within Jewish communities, according to Semenchuk. At the same time, BitСoen can be bought by anyone. Read more © Global Look Press Another bitcoin rival makes its mark in cryptocurrency world Semenchuk said he has invested $500,000 in the project and the new cryptocurrendy is based on a separately developed blockchain. The wide-scale issue of BitCoen tokens is ...
** PETRO-DOLLAR WATCH **
Post Date: 2017-08-08 04:56:54 by Tatarewicz
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Syrper A good article about the petro-dollar and Chinese policy regarding Saudi Arabia, I have omitted the first paragraphs because it’s stuff about the petro-dollar system and the accompanying US hegemony that all Syrpers know about. ARTICLE: “SAUDI VULNERABILITY The Saudis are the subject of occasional debate for a failed kingdom, a collapsed monarchy, a bankrupted nation, with finances bleeding red ink like never before in its brief history. Infighting has occurred to wrest the title of crown prince for Mohammed bin Salman (MbS), certain to have caused internal resentment and worse. The kingdom is depleting it financial reserves faster than it is the oil reserves. Deficits ...
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