Putin says dump dollar

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 – Putin says dump dollar (RT, Sept 1, 2015):

Russian President Vladimir Putin has drafted a bill that aims to eliminate the US dollar and the euro from trade between CIS countries.

This means the creation of a single financial market between Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and other countries of the former Soviet Union.

Read morePutin says dump dollar

Donations In August

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In order to stay up, this site needs your support, …

… especially because it is not generating any income via annoying advertisements.

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Donations in August: $60, £15,00

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Donations In July: $50

Donations in June: $80

Donations in May: $65

Donations in April: €10

Donations in March: $15, €10

Donations in February: €10

Donations in January: $175, €10

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Donations in 2015: $445, €40, £15,00

ConocoPhillips Fires 10% Of Global Workforce, Warns Of “Dramatic Downturn” To Oil Industry

ConocoPhillips Fires 10% Of Global Workforce, Warns Of “Dramatic Downturn” To Oil Industry (ZeroHedge, Sept 1, 2015):

Where the great oil crash hits close to home for most Americans, is when firms such as Houston based ConocoPhillips announce that the E&P giant is about to terminate 10%, or 1,800 people, of its global workforce, in the next several weeks as it copes with low oil prices. “Our industry is undergoing a dramatic downturn, which has caused us to look at our future workforce needs. As we have assessed the implications of lower prices on our business, we’ve made the difficult decision that workforce reductions will be necessary.”

Meanwhile At Budapest Main Train Station (Live Feed)

Meanwhile At Budapest Main Train Station (Live Feed) (ZeroHedge, Sept 1, 2015):

In an unprecedented move to stem the tsunami of migrants entering Europe, Hungary has decided to stop all trains at Budapest main train station to stop refugees – most of them from conflict areas such as Syria – from entering the EU onwards to Austria and Germany. For now, there are 1000s of refugees waiting at the station, with entrances blocked by police.

Clashes occurred earlier…

The Oligarch Recovery – Low Income Americans Can’t Afford to Live in Any Metro Area

Redistribution

The Oligarch Recovery – Low Income Americans Can’t Afford to Live in Any Metro Area (Liberty Blitzkrieg, Sept 1, 2015):

We were told we needed to bail out Wall Street in order to save Main Street. Well the results are in…

Wall Street has never done better, and Main Street has never done worse.

From the Huffington Post:

Low-income workers and their families do not earn enough to live in even the least expensive metropolitan American communities, according to a new analysis of families’ living costs published Wednesday.

Read moreThe Oligarch Recovery – Low Income Americans Can’t Afford to Live in Any Metro Area

Canada Enters Recession

Not “Unequivocally Good” – Canada Enters Recession (ZeroHedge, Sept 1, 2015):

It appears low oil prices are not awesome for everyone. For the second quarter in a row, Canadian GDP dropped (-0.5%) pushing America’s northern neighbor back into recession. What is ironic is that this was better than the 1% drop that was expected and so CAD is strengthening.

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and the kneejerk is a strengthening of CAD against the USD as the drop was less than expected…

Read moreCanada Enters Recession

Global Trade In Freefall: South Korea Exports Crash Most Since 2009

Global Trade In Freefall: South Korea Exports Crash Most Since 2009 (ZeroHedge, Sept 1, 2015):

While the market’s attention overnight was focused on China’s crumbling manufacturing and service PMI, data which was already hinted in the flash PMI reports earlier in August, the real stunner came not from China but from South Korea, which last night reported an unprecedented 14.7% collapse in exports, far worse than the -5.9% consensus estimate, and more than 4 times worse than July’s 3.4%. The number is critical because not only do exports account for about half of South Korea’s GDP but because it also happens to be the first major exporting country to report monthly trade data. That makes it the perfect barometer of global trade flows, or as the case may be, the canary in the global trade coalmine. It also confirms what we reported just one week ago when we said that Global Trade Is In Freefall.”