Oil

The Best Reason In The World To Buy Gold (Forbes): Beijing Is Planning To Avoid U.S. Financial Sanctions On Iran By Paying For Oil With Gold

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– The Best Reason in the World to Buy Gold (Forbes, April 22, 2012):

Beijing is planning to avoid U.S. financial sanctions on Iran by paying for oil with gold.  China’s imports of the metal are already large, and you can guess what additional purchases are going to do to prices.

On the last day of 2011, President Obama signed the National Defense Authorization Act for Fiscal Year 2012.  The NDAA, as it is called, attempts to reduce Iran’s revenue from the sale of petroleum by imposing sanctions on foreign financial institutions conducting transactions with Iranian financial institutions in connection with those sales.  This provision, which essentially cuts off sanctioned institutions from the U.S. financial system, takes effect on June 28.

The NDAA gives the president the power to waive the sanctions depending on the availability and price of supplies from non-Iranian sources.  He can also exempt financial institutions from countries that have significantly cut back purchases of Iranian petroleum.  Last month, the State Department announced waivers for Japan and ten European countries.  China, which has received American waivers in the past under other Iran legislation, is now Tehran’s largest oil customer and investor as well as its largest trading partner.  Given the new mood in Washington, Beijing cannot count on getting more exceptions in the future.

As the Wall Street Journal noted in early January, the sanctions are “an attempt to force other countries to choose between buying oil from Iran or being blocked from any dealings with the U.S. economy.”  The strict measures put Chinese officials in a bind.  They apparently believe their geopolitical interests align with those of Tehran, but their economy is becoming increasingly reliant on America’s.

Read moreThe Best Reason In The World To Buy Gold (Forbes): Beijing Is Planning To Avoid U.S. Financial Sanctions On Iran By Paying For Oil With Gold

Tribal Leaders And Militia Commanders Declare Oil-Rich Eastern Libya A Semiautonomous State

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– Eastern Libya pulls away from central government (San Francisco Chronicle, Mar 6, 2012):

BENGHAZI, Libya (AP) — Tribal leaders and militia commanders declared oil-rich eastern Libya a semiautonomous state on Tuesday, a unilateral move that the interim head of state called a “dangerous” conspiracy by Arab nations to tear the country apart six months after the fall of Moammar Gadhafi.

Thousands of representatives of major tribes, militia commanders and politicians made the declaration at a conference in the main eastern city of Benghazi, insisting it was not intended to divide the country. They said they want their region to remain part of a united Libya, but needed to do this to stop decades of discrimination against the east.

The conference declared that the eastern state, known as Barqa, would have its own parliament, police force, courts and capital — Benghazi, the country’s second largest city — to run its own affairs. Foreign policy, the national army and oil resources would be left to the central government in the capital Tripoli in western Libya. Barqa would cover nearly half the country, from the center to the Egyptian border in the east and down to the borders with Chad and Sudan in the south.

Read moreTribal Leaders And Militia Commanders Declare Oil-Rich Eastern Libya A Semiautonomous State

According To Reuters, Soaring Energy Prices Are Now A Good Thing

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– According To Reuters, Soaring Energy Prices Are A Good Thing (ZeroHedge, Mar 4, 2012)

When it comes to reporting the news, Reuters ability to get the scoop first may only be rivaled by its ability to “spin” analysis in a way that will make a normal thinking person’s head spin.  Such as the following piece of unrivaled headscrathing titled “The good news behind oil prices” whose conclusion, as some may have already guessed, is that “the surge in crude oil is looking more like a harbinger of better days.” Let’s go through the arguments.

From Reuters: The good news behind oil prices

  1. “the Iran-driven spike masks a broader underlying trend, and as long as military strikes are avoided, it appears to pose only a limited risk. In other words, there is a good news story.”

Translation – Logic aside (namely that there is absolutely no connection between the precedent and antecedent sentences, but we’ll let that slide) the fact that at least $140 billion has been removed from consumers’ pockets YTD on an annualized basis (0.9% of GDP per $10 oil price increase), and has offset all the benefits from the payroll tax extension and then some, is not only irrelevant, but is apparently good news. Ignore that retail sales are abysmal for 3 months running, consumer spending has plunged and has already cost the US economy 0.3% in Q1 GDP, and all this happened even before the oil price surge, not to mention and European inflation is already above expectations on record Brent in Euros. All that matters is consumer confidence which is based on media “arguments” such as the one being deconstructed.

Read moreAccording To Reuters, Soaring Energy Prices Are Now A Good Thing

David Rosenberg: ‘It’s A Gas, Gas, Gas!’ – ‘So here we have real incomes and wealth both deflating and the masses believe that recession is off the table because of a liquidity-induced four-month rally in the stock market. Go figure.’

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… and study the Weimar Republic!

– David Rosenberg: “It’s A Gas, Gas, Gas!” (ZeroHedge, Feb. 27, 2012):

Once again, if one wants to get nothing but schizophrenic noise from several momentum chasing vacuum tubes which very way may take the market to all time highs on 1 ES contract churned back and forth, by all means focus on the “market” which for the past three years is merely a policy vehicle of the monetary-fiscal fusion regime (thank you Plosser for confirming what we have been saying for years). For everyone else, here is the traditionally solid economic commentary from David Rosenberg. Considering that the central planners have pumped $7 trillion, or 50% of their balance sheet, in the stock market in the past 4 years, to offset precisely the warnings that Rosenberg issues on a daily basis, we are far beyond debating whether or not those who observe the economy realistically are right or wrong. The only question is whether the central banks can continue to expand their balance sheet at an exponential phase to offset the inevitable. Answer: they can’t.

Read moreDavid Rosenberg: ‘It’s A Gas, Gas, Gas!’ – ‘So here we have real incomes and wealth both deflating and the masses believe that recession is off the table because of a liquidity-induced four-month rally in the stock market. Go figure.’

Everything Not Nailed Down Being Bought

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$15 for a loaf of bread … coming to a store near you.

– Everything Not Nailed Down Being Bought (ZeroHedge, Feb. 27, 2012):

When in doubt – buy. When in doubt what – everything. As the chart below shows starting with the open of the US market, literally everything has been bought: stocks, bonds, crude, gold, and ‘logically’, the VIX. It took the market virtually no time to remember that when trillions in liquidity are being injected into the market courtesy of central planners, a downtick is verboten. Next up: waiting for WTI $110. Should take a few minutes at most.

‘Oil Won’t Stop Until The Economy Breaks’

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For your information.

– “Oil Won’t Stop Until The Economy Breaks” (ZeroHedge, Feb. 24, 2012):

As gold strengthens on the back of the extreme experimentation of the world’s (now-sheep-like) central bankers’ easing and printing protocols, it does no real harm to the world, but as John Burbank (of Passport Capital) notes, the painful unintended consequence of all this liquidity is energy costs skyrocketing – and it won’t stop until the economy breaks. The negative feedback loop, that we pointed to yesterday as potentially the only thing to stall a magnanimously academic response to the insolvency we see around the world (and the need for deleveraging at this end of the debt super-cycle), of oil prices into the real economy will be devastating not just for US but for EM economies, though as the bearded-Burbank reminds us – Saudi benefits greatly (and suggests ways to trade this perspective). Flat consumer incomes while costs are rising is never a good thing and while we make new highs in oil in terms of EURs and GBPs, he warns we may soon in USDs also. Summing up, his perspective is rising tensions in the Middle East combined with central bank liquidity provision are a huge concern: “We’re actually quite bearish. The only reason all this liquidity is coming into the market is because things are really bad. It’s not because things are good. It’s hard to know where things are going to go. The point is, just because they’re putting liquidity in the market doesn’t mean the economy is improving.”

Edited Transcript below:

On the price of oil and his Saudi investments:

“[Oil] is up 16%, more than any of the indices. It’s a big problem for the rest of the world – central bank easing and liquidity providing presents a lot of problems for the average consumer here but also for emerging markets around the world.”

Read more‘Oil Won’t Stop Until The Economy Breaks’

Saudi Arabia Cuts Oil Output, Export: Industry Report

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‘Perfect’ timing:

– Iran Stops Oil Sales To British, French Companies: ‘Surely, When It Comes To Shooting Itself In The Foot, Europe Truly Has No Equal’

– Saudi Arabia Cuts Oil Output, Export: Industry Report (CNBC, Feb. 19, 2012):

??The world’s top oil exporter, Saudi Arabia, appears to have cut both its oil production and export in December, according to the latest update by the Joint Organizations Data Initiative (JODI), an official source of oil production, consumption and export data.

The OPEC heavyweight saw production decline by 237,000 barrels per day (bpd) from three-decade highs of 10.047 million bpd in November, the JODI data showed on Sunday.

Read moreSaudi Arabia Cuts Oil Output, Export: Industry Report

Iran Stops Oil Sales To British, French Companies: ‘Surely, When It Comes To Shooting Itself In The Foot, Europe Truly Has No Equal’

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See also:

– EU Foreign Ministers Agree On Iranian Oil Embargo – Europe Is Shooting Itself In The Foot

From the article:

“Surely, when it comes to shooting itself in the foot, Europe truly has no equal.”

– Iran Stops Oil Sales To British, French Companies (ZeroHedge, Feb. 19, 2012):

The geopolitical game theory escalates once again, as Iran, which four days ago halted exports to peripheral European countries took it up a notch, and has as of this morning halted sales to British and French companies. Reuters reports: “Iran has stopped selling crude to British and French companies, the oil ministry said on Sunday, in a retaliatory measure against fresh EU sanctions on the Islamic state’s lifeblood, oil. “Exporting crude to British and French companies has been stopped … we will sell our oil to new customers,” spokesman Alireza Nikzad was quoted as saying by the ministry of petroleum website.” Here is the actual statement from MOP.ir. As a reminder, on January 27 we said how Iran was about to “Turn Embargo Tables: To Pass Law Halting All Crude Exports To Europe.” And so it has – now, the relentless media campaign about China isolating Iran in response to American demands has to be respun: recall that in early February Reuters told us that “China will halve its crude oil imports from Iran in March compared to average monthly purchases a year ago, as a dispute over payments and prices stretches into a third month, oil industry sources involved in the deals said on Monday.” Apparently that may not have been the case, as there is no way Iran would have escalated as far as it has unless it had replacement buyers of one third of its crude. Incidentally, this is just as we predicted in “A Very Different Take On The “Iran Barters Gold For Food” Story.” The end result of this senseless gambit by the west: Europe has less oil, the Saudi fable that it has endless excess suplies is about the be seriously tested, China has just expanded a key crude supply route, and Russia is grinning through it all as Brent prices are about to spike. Iran didn’t invent chess for nothing.

This is what we cautioned in early February:

Read moreIran Stops Oil Sales To British, French Companies: ‘Surely, When It Comes To Shooting Itself In The Foot, Europe Truly Has No Equal’

Iran, Gold and Oil – The Next Banksters War

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“I was personally present when the deputy economics minister of Iran was talking to a foreign society in Berlin”

“And the gentleman said very openly to the shocked audience ‘OK.

You don’t want to buy our goods. Well, the Chinese do.”

– Christoph R. Horstel

– Iran, Gold and Oil – The Next Banksters War (Batr, Jan. 29, 2012):

Remember the real reason why Moammar Gadhafi is dead. He dared to propose and started creating an alternative currency to the world reserve U.S. Dollar. The lesson learned in Libya is now ready for teaching in Iran. Forget all the noise about going nuclear, the true message is that the banksters rule and nation states serve their ultimate masters. The hype and disinformation that surrounds the push for war is best understood by examining the viewpoint of Iranian MP Kazem Jalali. The Tehran Times quotes him in saying,

“The European Union must be aware that it can never compel the Islamic Republic to succumb to their will and undermine the Iranian nation’s determination to achieve glory and independence, access modern technologies, and safeguard its rights, through the intensification of the pressure.”

“The European Union is seeking to politicize the atmosphere ahead of nuclear talks with Iran and is aware that sanctions on Iran’s oil exports cannot be implemented since the world is not limited to a number of European countries”

Many political commentators warn that an embargo is an act or war. Chris Floyd provides this observation of the recent oil embargo against Iran.

“This week, the warlords of the West took yet another step toward their long-desired war against Iran. (Open war, that is; their covert war has been going on for decades — via subversion, terrorism, and proxies like Saddam Hussein.) On Monday, the European Union obediently followed the dictates of its Washington masters by agreeing to impose an embargo on Iranian oil.

The embargo bans all new oil contracts with Iran, and cuts off all existing deals after July. The embargo is accompanied by a freeze on all European assets of the Iranian central bank. In imposing these draconian measures on a country which is not at war with any nation, which has not invaded or attacked another nation in centuries, and which is developing a nuclear energy program that is not only entirely legal under international law but is also subject to the most stringent international inspection regime ever seen, the EU is “targeting the economic lifeline of the regime,” as one of its diplomats put it, with admirable candor.”

The most important aspect of the Iranian response lies in the way that changes oil settlement for delivery and the futile effect of the US/Anglo/EU imperialist dictates have in the marketplace.

Debkafile reports that India (and probably China) will pay for Iranian oil in gold.

Read moreIran, Gold and Oil – The Next Banksters War

IMF Warns Of Oil Price Shock, Expects 20-30% Oil Price Spike If Iranian Exports Are Disrupted

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See also:

– EU Iran Oil Embargo Sanctions ‘Unprecedented’, Freezes Iranian Central Bank Assets

– EU Foreign Ministers Agree On Iranian Oil Embargo – Europe Is Shooting Itself In The Foot

– IMF warns over risk of Iran oil price shock (BBC News, Jan. 25, 2012):

The International Monetary Fund (IMF) has warned of a 20-30% oil price spike if Iranian exports are disrupted.

The IMF warned that if the West imposed financial sanctions on Iran, it would be tantamount to an oil blockade, and the shock to the market could be as bad as from Libya’s revolution last year.

Read moreIMF Warns Of Oil Price Shock, Expects 20-30% Oil Price Spike If Iranian Exports Are Disrupted

EU Foreign Ministers Agree On Iranian Oil Embargo – Europe Is Shooting Itself In The Foot

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‘Brilliant’!

– India Joins Asian Dollar Exclusion Zone, Will Transact With Iran In Rupees:

Ironically, and as has been stated here many times before, by enacting the proposed sanctions and embargo, the US, but mostly Europe is doing nothing but shooting itself in the foot, as it opens up a brand new pathway of not only outright defiance, and thus political brownie points domestically, of the US, but it will allow it to buy even more crude, at cheaper prices, while in the process it is forced to build closer monetary relations with its neighboring countries, relations that rely less and less on the world’s increasingly less relevant reserve currency.

– EU Agrees Iranian Oil Embargo (Guardian, Jan. 23, 2012):

Foreign ministers’ deal in Brussels could lead to soaring fuel prices and Iran closing the strait of Hormuz

The long-running standoff between Iran and the west over Tehran’s nuclear programme has shifted into a more unpredictable phase after Europe decided to impose an oil embargo on the Islamic republic.

The decision by EU foreign ministers at a meeting in Brussels raised the stakes dramatically in the war of wits between Iran and the west.

The EU decided no further oil contracts could be struck between the member states and Iran while existing oil delivery deals would be allowed to run until July.

Read moreEU Foreign Ministers Agree On Iranian Oil Embargo – Europe Is Shooting Itself In The Foot

India Joins Asian Dollar Exclusion Zone, Will Transact With Iran In Rupees

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– India Joins Asian Dollar Exclusion Zone, Will Transact With Iran In Rupees (ZeroHedge, Jan. 21, 2012):

Two weeks ago we wrote a post that should have made it all too clear that while the US and Europe continue to pretend that all is well, and they are, somehow, solvent, Asia has been smelling the coffee. To wit: “For anyone wondering how the abandonment of the dollar reserve status would look like we have a Hollow Men reference: not with a bang, but a whimper… Or in this case a whole series of bilateral agreements that quietly seeks to remove the US currency as an intermediate. Such as these: “World’s Second (China) And Third Largest (Japan) Economies To Bypass Dollar, Engage In Direct Currency Trade“, “China, Russia Drop Dollar In Bilateral Trade“, “China And Iran To Bypass Dollar, Plan Oil Barter System“, “India and Japan sign new $15bn currency swap agreement“, and now this: “Iran, Russia Replace Dollar With Rial, Ruble in Trade, Fars Says.”” Today we add the latest country to join the Asian dollar exclusion zone: “India and Iran have agreed to settle some of their $12 billion annual oil trade in rupees, a government source said on Friday, resorting to the restricted currency after more than a year of payment problems in the face of fresh, tougher U.S. sanctions.” To summarize: Japan, China, Russia, India and Iran: the countries which together account for the bulk of the world’s productivity and combined are among the biggest explorers and producers of energy. And now they all have partial bilateral arrangements, and all of which will very likely expand their bilateral arrangements to multilateral, courtesy of Obama’s foreign relations stance which by pushing the countries into a corner has forced them to find alternative, USD-exclusive, arrangements. But yes, aside from all of the above, the dollar still is the reserve currency… if only in which to make calculations of how many imaginary money one pays in exchange for imaginary ‘developed world’ collateral.

On India’s induction into the dollar unluck club, from Reuters.

Read moreIndia Joins Asian Dollar Exclusion Zone, Will Transact With Iran In Rupees

Crude Surges On News Europe Agrees To Ban Iran Oil Imports

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See also:

– President Obama Signs ‘Toughest Yet’ (= Warlike) Iran Sanctions (Which Are Part Of The NDAA) Into Law:

Effectively, the measures will force companies and financial institutions throughout the world to choose between the United States and Iran as their business partner.

We are already at war with Iran!

In other news:

– Iran threatens U.S. ships, alarms oil markets (Washington Post):

Iran escalated its war of words with the United States on Tuesday with a warning to Navy ships to stay out of the strategic Strait of Hormuz, remarks that rattled commodities markets and helped send oil prices soaring.

– Iran fires long-range missiles (Telegraph – Video):

Iran has test-fired a surface-to-surface cruise missile in a naval drill, after the country threatened to close the strategic Strait of Hormuz, the passageway for 40 per cent of the world’s oil supply, if sanctions were imposed on its crude exports.

– Iran-US tensions over Gulf send oil prices soaring (Guardian):

Brent crude spot prices rise from $107 to $111 after Tehran threatens US aircraft carrier over use of crucial shipping route.

– Crude Surges On News Europe Agrees To Ban Iran Oil Imports (ZeroHedge, Jan. 4, 2012):

As if the situation in the Gulf was not enough on edge, here comes Europe with news, via Reuters, that EU governments have reached a deal to ban Iranian oil imports. The only thing pending is the determination of the starting date and other details. The result, as expected, is another leg up in crude. Sooner or later, this relentless rise higher will spill through to the pump, which according to the Michigan Bizarro confidence indicator will sent consumer optimism to historic levels. And now, the escalation hot grenade is back in Iran’s court. Expect more missiles to be fired into the water and more rhetoric about Straits of Hormuz closure in 5…4…3…

From Reuters:

European Union governments have reached a preliminary agreement to ban imports of Iranian crude to the EU but have yet to decide when such an embargo would be put in place, EU diplomats said on Wednesday.

Diplomats said that EU envoys held talks on the issue in the last days of December and that any objections to the idea, notably from Greece, were dropped.

“A lot of progress has been made,” one EU diplomat said, speaking on condition of anonymity. “The principle of an oil embargo is agreed. It is not being debated anymore.”

And the response:

President Obama Signs ‘Toughest Yet’ (= Warlike) Iran Sanctions (Which Are Part Of The NDAA) Into Law

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And so it begins.

Got gold and silver?

– Obama signs ‘toughest yet’ Iran sanctions (Deutsche Welle, Jan. 1, 2012):

Mounting tensions between the United States and Iran are likely to flare even further after US President Barack Obama has signed new sanctions against Iran’s financial and oil sectors.

US President Barack Obama has signed into law tough new sanctions targeting Iran’s banking and oil sectors. Effectively, the measures will force companies and financial institutions throughout the world to choose between the United States and Iran as their business partner.

The sanctions, conceived to punish Iran for its nuclear program, are part of a $662 billion (511 billion-euro) defense spending bill Obama signed on Saturday, December 31, during his vacation to Hawaii.

Firms and financial institutions, including foreign central banks, could be barred from trading on US financial markets if they continue ties with Iran’s central bank or oil industry. Iran’s central bank is essential to processing income from Iranian oil exports.

Read morePresident Obama Signs ‘Toughest Yet’ (= Warlike) Iran Sanctions (Which Are Part Of The NDAA) Into Law

Precious Metals Plunge And India’s Industrial Production Crashes

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– Precious Metals Plunge And India’s Industrial Production Crashes (ZeroHedge, Dec. 12, 2011):

The metals space has had a rather disconcerting start to the week this evening with Silver and Copper dropping almost 2% from their opening levels and then Gold following suit. All this as the USD inches very gradually up tracking almost perfectly with Crude for now. These moves seem very liquidation-like in their velocity but have for now stabilized at the lows. The last few minutes saw some of the ugliest macro data we have seen in a while come out of India as it’s Industrial Production growth missed expectations by a mile falling to levels only seen in the middle of the global economic shutdown in Q1 2009. So another leg in the EM-will-save-us-all stool just got kicked out and still we are to believe the US will decouple and ‘muddle-through’?

The metals are ‘decoupling’ from oil for now and it was interesting that the reaction in Gold was ‘delayed’ a few hours on the simultaneous drop in Copper and Silver. They are extending their losses now after the India IP print…

ES is leaking back from its highs but is trading in a narrow range so far and maybe 3-4pts rich to broad risk assets for now.

Charts: Bloomberg

And Now: Syrian Oil Pipeline Blown Up (Video)

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– Syria says terrorists blew up pipeline (UPI, Dec. 8, 2011):

HOMS, Syria — An armed terrorist group blew up a pipeline that carries oil to a refinery near Homs, Syria, early Thursday, the state news agency SANA reported.

Rami Abdulrahman of the Syrian Observatory for Human Rights in London told the British newspaper The Daily Telegraph the Tal Asour pipeline is the main pipeline feeding the Homs refinery.

Separately, snipers randomly fired on Homs residents Thursday, killing seven, the Syrian Observatory said.

– Syrian oil pipeline blown up (Telegraph, Dec. 8, 2011):

A Syrian pipeline carrying oil from the east of the country to a vital refinery in Homs was blown up on Thursday in an act state news described as “terrorism”.

– ‘Terrorists’ blow up Syrian oil pipeline, state media says (New York Post, Dec. 8, 2011):

– Tensions Escalate As Syria Pipeline Destroyed – Video (ZeroHedge, Dec. 8, 2011):

Just when you hoped the worst was over with Draghi’s market-disappointing news this morning, things just got a lot more real in the Middle-East. State media is reporting that armed terrorists blew up an oil pipeline west of the flashpoint Syrian city of Homs. In an interesting twist, an anti-regime group said the government was behind the blast. Nonetheless Fox Houston is noting that the explosion is the third reported attack on energy infrastructure since the outbreak of the pro-reform protest movement in mid-March. Interestingly oil prices (along with all other commodities) continue to plunge on USD strength and liquidations (from European upsets) but we suspect that all it would take now is for a splinter Turkish group to take responsibility for the blast and this drop will promptly reverse.

and video of the devastation:

(Same video as above)

Got drones?

Read moreAnd Now: Syrian Oil Pipeline Blown Up (Video)

Thrive (Documentary – Full Length)

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For your information.

The elitists vs. the people.


YouTube Added: 13.11.2011

For more information: Thrive

Muammar Gaddafi Salted Away About $200 Billion

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The most interesting thing would be to know what will happen to the $200 billion NOW.

I guess the 200 billion and 144 tons of gold …

– The Battle Is Almost Over: Destroying Libya To Steal 144 Tons Of Gold

… and a African sound currency …

– More Reasons Why Gadaffi And Libya Had To Be Destroyed (Video):

… others say it is about oil, but some are convinced intervention in Libya is all about Gaddafi’s plan to introduce the gold dinar, a single African currency made from gold, a true sharing of the wealth.

… and oil …

– Straight From The Horse’s Mouth: John Bolton Admits All Of These Wars Are For Oil (Video)

… and …

– Rep. Ron Paul on CNN: Libyan War Is ‘About Commercial Business!’ (And Totally Unconstitutional!)

– Illuminati Banksters Raping And Pillaging Libya – Goldman Sachs And Muammar Gaddafi

– Libya: John Perkins: It’s Not About Oil, It’s About Currency and Loans – Rothschilds Finish Off Gaddafi – ‘The Price of Freedom’, Highest Standard of Living in Africa

… are an awful lot of good reasons to invade ANOTHER country. I hope you have listened to John Bolton.

Here are even more reasons why the NWO elitists had to destroy Libya:

– Libya: Muammar Gaddafi’s ‘Regime’ Exposed – The Truth You Are Not Supposed To Know (Video)

– Meet The Real Muammar Gaddafi or Why The Elitists (NWO) Needed To Destroy Libya (Video)

And I am sure that the Libyan people will see not one dollar of the $200 billion benefiting their country.

Do you still believe your government? (From the article below):

“Obama administration officials were stunned last spring when they found $US37 billion in Libyan regime accounts and investments in the United States”

Oh, really?:

– Matt Taibbi: Why is the Federal Reserve Bailing Out Gaddafi?:

Barack Obama recently issued an executive order imposing a wave of sanctions against Libya, not only freezing Libyan assets, but barring Americans from having business dealings with Libyan banks.

So raise your hand if you knew that the United States has been extending billions of dollars in aid to Qaddafi and to the Central Bank of Libya, through a Libyan-owned subsidiary bank operating out of Bahrain. And raise your hand if you knew that, just a week or so after Obama’s executive order, the U.S. Treasury Department quietly issued an order exempting this and other Libyan-owned banks to continue operating without sanction.

Yes, all of this is more MSM & government bullshit we can take a bath in.

– Gaddafi salted away about $200 billion (The Age, Oct. 22, 2011):

Muammar Gaddafi secretly salted away more than $US200 billion ($A196 billion) in bank accounts, real estate and corporate investments around the world before he was killed, according to senior Libyan officials.

That’s about $US30,000 for every Libyan citizen and double the amount that Western governments previously had suspected.

The new estimates of the deposed dictator’s hidden cash, gold reserves and investments are “staggering”, one person who has studied detailed records of the asset search said Friday.

Read moreMuammar Gaddafi Salted Away About $200 Billion

Obama Administration Infuriates Environmentalists By Giving BP Green Light To Bid For New Drilling Rights In The Gulf Of Mexico

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– BP allowed back into the bidding for gulf oil drilling rights (The Observer, Oct. 16, 2011):

The Obama administration has infuriated environmentalists by giving BP the green light to bid for new drilling rights in the Gulf of Mexico.

The move – seen as a major step in the company’s political rehabilitation as an offshore driller following the Deepwater Horizon accident – was revealed by the head of the US safety regulator after a congressional hearing in Washington.

Read moreObama Administration Infuriates Environmentalists By Giving BP Green Light To Bid For New Drilling Rights In The Gulf Of Mexico

Gulf Of Mexico: Massive Oil Slick Stretches For Nearly 10 Miles (Video)

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– New evidence of a massive oil slick near Deepwater Horizon site (Raw Story, Sep. 1, 2011):

A California nonprofit organization dedicated to the protection and preservation of wildlife has discovered what seems to be a massive oil slick in the Gulf of Mexico near the area of the original Deepwater Horizon spill.

In a flight over the Gulf Tuesday, OnWingsOfCare.org founder and pilot Dr. Bonny Schumaker spotted an oil slick that stretched for nearly 10 miles.

Last week, two Louisiana State University men took a boat into the Gulf and returned with video evidence of large blooms of crude oil swelling up to the water’s surface where the doomed oil rig once hovered.

BP had firmly denied that the well is continuing to leak.

“None of this is true,” they said in a statement.

Watch this video from OnWingsOfCare.org, uploaded Aug. 30, 2011.


YouTube Added: 30.08.2011

France Made Secret Deal With NTC For 35% Of Libya’s Oil (Libération)

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– Pétrole : l’accord secret entre le CNT et la France (Libération):

Dans une lettre que s’est procurée «Libération», les rebelles promettent d’accorder 35% du brut libyen aux Français.

Mahmoud Jibril, numéro 2 du CNT, reçu le 24 août 2011 à l’Elysée par Nicolas Sarkozy. (AFP Lionel Bonaventure)

La morale politique n’a rien à faire avec les affaires. C’est, en substance, ce que répète le gouvernement français depuis le 19 mars, jour du lancement de l’opération militaire contre les troupes du colonel Kadhafi. Paris n’a qu’un seul objectif : «Venir en aide à un peuple en danger de mort […] au nom de la conscience universelle qui ne peut tolérer de tels crimes, déclare Nicolas Sarkozy lors d’un discours à l’Elysée, le 19 mars. Nous le faisons pour protéger la population…

China And Iran To Bypass Dollar, Plan Oil Barter System, And A Deeper Dive Into The Iranian Oil Bourse

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– China And Iran To Bypass Dollar, Plan Oil Barter System, And A Deeper Dive Into The Iranian Oil Bourse (ZeroHedge, July 24, 2011):

One of the more notable events in the past week was the previously discussed reopening of the Iranian Oil Bourse, an attempt by Iran to launch a venue that bypasses US sanctions against Iran which has prevented payment in the world’s reserve currency for Iranian goods. “Big deal”, some will say, this is not the first time Iran has attempt to upstage the Great Satan. Well, true, although as OilPrice said last week, “what it would take for Iran’s new exchange to survive and flourish are some heavy-duty customers that Washington would be wary of picking a fight with, and Tehran already has one – China… China, the world’s largest buyer of Iranian crude oil, has renewed its annual import pacts for 2011. In 2010 Iran supplied about 12 percent of China’s total crude imports. According to the latest report of the China Customs Organization, Iran’s total oil exports to China stood at 8.549 million tons between January and April 2011, up 32 percent compared with the same period last year. Iran is currently China’s third largest supplier of crude oil, providing China with nearly one million barrels per day.” Still, the perceived provocation to Uncle Sam should China go ahead and slap America in the face by accepting the existence of the Kish exchange, would echo around the world. Which is why many don’t think much if anything will happen. Until today, that is: according to the FT, China has decided to commence an barter system in which Iranian oil is exchanged directly for Chinese exports. The net result: not only a slap for the US Dollar, but implicitly for all fiat intermediaries, as Iran and China are about to prove that when it comes to exchanging hard resources for critical Chinese goods and services, the world’s so called reserve currency is completely irrelevant. The implications of this are momentous, especially for US debt, whose indomitability is only predicated upon the continued acceptance of the currency it backs as a global reserve. If China is now openly admitting to the world that it does not need US monetary intermediation, and by implication, the “debt” backing said intermediation, what then? And who will follow China next?

From the FT:

Tehran and Beijing are in talks about using a barter system to exchange Iranian oil for Chinese goods and services, as US financial sanctions have blocked China from paying at least $20bn for oil imports.

The US sanctions against Iran, which make it extremely difficult to conduct dollar-denominated business, mean that China could owe the oil-rich nation as much as $30bn, according to people familiar with the problem.

Read moreChina And Iran To Bypass Dollar, Plan Oil Barter System, And A Deeper Dive Into The Iranian Oil Bourse

Citi’s Top Economist Willem Buiter Says The Water Market Will Soon Eclipse Oil

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Must see:

– Former governor Jesse Ventura Conspiracy Theory: ‘Worldwide Water Conspiracy’ (FULL LENGTH)

– Citi’s Top Economist Says The Water Market Will Soon Eclipse Oil (Business Insider, July 21, 2011):

Citi economist Willem Buiter tells clients to invest in the water industry which will soon become hotter than oil (via FT Alphaville):

I expect to see in the near future a massive expansion of investment in the water sector, including the production of fresh, clean water from other sources (desalination, purification), storage, shipping and transportation of water. I expect to see pipeline networks that will exceed the capacity of those for oil and gas today.

I see fleets of water tankers (single-hulled!) and storage facilities that will dwarf those we currently have for oil, natural gas and LNG. I see new canal systems dug for water transportation, similar in ambition and scale to those currently in progress in China, linking the Yangtze River in the South to the Yellow River in the arid north.

I also hope and expect that these new canal ventures will be designed and implemented with a greater awareness of the environmental and social impact of such mega-projects. India will have to engage in investment on a scale comparable to that seen today in China to produce clean water in the best locations and transport it to where the household, industrial and agricultural users are.

Read moreCiti’s Top Economist Willem Buiter Says The Water Market Will Soon Eclipse Oil