Gulf States Launch Naval Blockade Of Qatar

Gulf States Launch Naval Blockade Of Qatar:

In what has emerged as the most significant escalation to result from the Qatar diplomatic crisis – which pits two of OPEC’s largest oil producers, Saudi Arabia and the UAE, against the world’s biggest exporter of liquefied natural gas and further disrupts stability in the region –  the biggest Middle East oil and container ports banned all vessels sailing to and from Qatar from using their facilities.

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OPEC Agrees To Cut Oil Production By 1.2 Million Barrels A Day – Here Are The Details From The Deal

20161130_oil_0

Here Are The Details From The OPEC Production Cut Deal:

Update 5: as the meeting concludes, here are the details as they emerge one headline at a time:

Read moreOPEC Agrees To Cut Oil Production By 1.2 Million Barrels A Day – Here Are The Details From The Deal

What Oil Production Freeze: Russia Just Revealed The Laughable Loophole In The OPEC “Agreement”

What Oil Production Freeze: Russia Just Revealed The Laughable Loophole In The OPEC “Agreement”:

The main catalyst that pushed the price of oil from a 13 year low in early February, when crude briefly traded in the mid-$20 to well over 50% higher less than one month later in one of the world’s most furious short squeezes, was the recurring infatuation with the fabricated narrative that OPEC would if not cut production then, then at least freeze it.

We mocked this, as recently as one month ago, when we wrote “About That “Oil Freeze”: Russian Crude Production Sets New Post-Soviet Record In February” an article which was self-explanatory:

… according to calculations by Bloomberg’s Julian Lee, Russian crude and condensate production just set new post-Soviet daily record of 10.92m bbl yesterday.

Read moreWhat Oil Production Freeze: Russia Just Revealed The Laughable Loophole In The OPEC “Agreement”

Global News Update: Dec 02, 2014

Politicians at work:

your politicians at work
Source: Grant Williams @TTMYGH (Click on image to enlarge.)

With Its Gold “Vaporized”, A Furious Ukraine Turns On Its Central Bankers (ZeroHedge):

As reported two weeks ago, following to a stunning announcement by the head of Ukraine’s central bank, Valeriya Gontareva, we learned that (virtually) all of Ukraine’s gold was gone, or – in the parlance of Jon Corzine – had “vaporized.” And as we also predicted two weeks ago, it was only a matter of time before Ukraine’s people – the vast majority of whom are innocent pawns in a vast game of realpolitik between the west and east – finally got angry and demanded some answers. That time came earlier today when as Interfax.ua reported “a Kyiv-based court has instructed Kyiv prosecutors to bring an action against National Bank of Ukraine (NBU) Governor Valeriya Gontareva on charges of abuse of power or misuse of office to obtain illegal profit, the Vesti newspaper reported on Tuesday.”

 …

Putin-Obama

Tensions Between the U.S. and Russia Are Worse Than You Realize – Remarks by Foreign Minister Sergey Lavrov (Liberty Blitzkrieg):

Many reasonable analysts understand that there is a widening gap between the global ambitions of the US Administration and the country’s real potential. The world is changing and, as has always happened in history, at some point somebody’s influence and power reach their peak and then somebody begins to develop still faster and more effectively. One should study history and proceed from realities. The seven developing economies headed by BRICS already have a bigger GDP than the Western G7. One should proceed from the facts of life, and not from a misconceived sense of one’s own grandeur.

‘Worst Case Scenario’ has happened at US nuclear site — Robert Redford film predicted 2014 WIPP disaster: Plutonium release due to chemical reaction in burst nuclear drum is ultimate catastrophe… Most significant issue is combustible waste exposed to high heat, everyone understands that (VIDEO) (ENENews):

The WIPP Trail, narrated by Robert Redford, 1989 (at 17:00 in):

  • Robert Redford: We now know that 40% of the [WIPP] hazardous waste is combustible, thus posing a more serious and immediate threat.
  • Bruce Throne, New Mexico State Attorney: I think the combustible waste is perhaps the most significant because even a layman can understand that when combustible waste is exposed to high levels of heat, there may be some effect inside the TRUPAC [containers].
  • Redford: Wind is a critical factor that must be considered. The worst case scenario would be if a fire occurs within a breach of a container. The wind could then carry plutonium particles through the atmosphere, traveling considerable distances.
  • Oxford Dictionary’s definition of fire: “Combustion or burning, in which substances combine chemically with oxygen from the air and typically give out bright light, heat, and smoke”

French parliament votes to recognize Palestinian state (RT):

France’s Socialist-led parliament has passed a symbolic vote to recognize Palestinian statehood, despite staunch objections from Israel. MPs in Britain and Spain have already passed similar motions.

The Abenomics Devastation: Japanese Real Wages Decline For Record 16 Consecutive Months (ZeroHedge):

Those seeking proof that Abenomics is working are advised to look elsewhere.

Retail-Apocalypse

The Retail Apocalypse Accelerates: Collapsing Holiday Sales Are A Signal That A Recession Is Coming (Economic Collapse):

Retail sales during the four day Thanksgiving weekend were down a whopping 11 percent from last year.  This is a “make or break” time of the year for many retailers, and if things don’t turn around during the coming weeks we could see a tsunami of store closings in January and February.  As you read this article, there is already more than a billion square feet of retail space sitting empty in the United States.  Many have described the ongoing collapse of the retail industry as an “apocalypse”, and this apocalypse appears to be accelerating.  Yes, the shift to online retailers is a significant factor, but as you will see below even online retailers struggled over the holiday weekend.  The sad truth of the matter is that U.S. consumers are tapped out and are drowning in debt at this point, so they simply do not have as much money to spend as they once did.

The coming nuclear crisis: All but one of Britain’s ageing reactors ‘will need to close in 15 years’ (Independent):

All but one of Britain’s ageing fleet of nuclear reactors will have to be closed down within 15 years due to concerns over their economic viability or safety, a panel of experts has warned.

Only Sizewell B power station will still be operating beyond 2030, which would leave a shortfall of about 20 per cent in the UK’s power demands unless replacement nuclear reactors come on-stream in the 2020s, they said.

Britain’s existing nuclear reactors apart from Sizewell B are operating beyond their original lifetime specifications, but they are still working as safely as they were designed to be, said Professor Laurence Williams, a former chief inspector of nuclear installations.

Sure!

oil-china

And The Biggest Winner From The OPEC Price War Is… (ZeroHedge):

“This is a golden time window to acquire more strategic oil at lower costs,” notes one Hong-Kong based analyst, as Bloomberg confirms what we have noted here and here, that China is emerging as the winner from OPEC’s battle with rival oil producers as the world’s biggest energy consumer stockpiles crude.

ISIS claims to have developed dirty bomb – reports (RT):

So-called Islamic State militants claim to have developed a crude nuclear weapon using materials seized from Mosul University, Iraq. A British extremist boasted of the damage the dirty bomb would do if detonated in Iraq, UK media reports.

One of the militants bragging about the device online was Hamayun Tariq, fighting under the nom de guerre of Muslim-al-Britani, the Daily Mirror reports. Britani, a Briton who claims to be a bomb expert, tweeted:

“O by the way, Islamic State does have a dirty bomb. We found some radioactive material from Mosul University.”

isis-dirty-bomb

Lebanese Army detains wife, son of ISIS leader (RT):

A wife and a son of Islamic State leader Abu Bakr al-Baghdadi have been arrested by the Lebanese Army, Beirut security officials said. They were detained in coordination with “foreign intelligence apparatus,” reported the local press.

The woman was described by officials as one of al-Baghdadi’s wives, Safir daily newspaper reported. However, they didn’t provide any details on her nationality or name.

The woman, who was accompanied by her son, was arrested while crossing the border from Syria. According to the officials, she was using a fake ID.

SURE!!!

mossadISISmeme

ISIS-leader-Al-Baghdadi-Mccain

2014 Is Now The Worst Year For US Macro Data Performance Since 2008 (ZeroHedge):

Once again the cyclical patterns in US macro data are re-emerging as extrapolated hopes fade into mean-reverting credit-impulse-hangover-driven realities. Despite all the hopes and dreams of escape velocity, cleanest-dirty-shirt-wearing economic enthusiasts, year-to-date performance of Citi’s US Macro Surprise index is at its lowest level since 2008. Whether this is absolute weakness or relative weakness (versus yet more over-enthusiastic expectations) is unclear though, the Midterm election results and NFR Black Friday spending data may be a hint.

Putin Kills “South Stream” Pipeline, Will Build New Massive Pipeline To Turkey Instead (ZeroHedge):

Earlier today, in a stunning announcement, Putin revealed that the South Stream project is now finished. As the WSJ reports, “Putin said Moscow will stop pursuing Gazprom’s South Stream pipeline project that would supply natural gas to Europe with an underwater link to Bulgaria, blaming the European Union for scuttling the project.” Putin is right: Europe – Austria excluded – had seen rising resistance to the South Stream in recent months. The EU is concerned that the project would cement Russia’s position as Europe’s dominant supplier of natural gas. Russia already meets around 30% of Europe’s annual needs. So what does Putin do? He signs a strategic alliance with NATO member Turkey, the only country in Europe that is anything but European and which lately has been increasingly anti-Western, to build a new mega-pipeline to Turkey instead. And the exclamation point:

TURKEY, RUSSIA AGREE TO USE LOCAL CURRENCIES IN TRADE: TRT

Or, as Obama would put it, Russia just got even more “isolated.”

Haunting Drone Footage of Chernobyl Town (Smithonian):

“Postcards from Pripyat, Chernobyl” shows a drone’s-eye view of the city nearly three decades after nuclear disaster

The World’s Largest Stock Market Index Is Flashing Red (ZeroHedge):

With a market capitalization of around $16 trillion, the NYSE Composite Index is a massively broad equity indicator less affected by the day to day gyrations of AAPL, TSLA, BABA, or NFLX. As NewEdge’s Brad Wishak remarks, the world’s largest market cap equity index is painting a very different picture than that of the Dow or S&P 500

WTF: Canada family keeps father’s corpse for 6 months, praying for resurrection (RT):

A small community of Christians in Canada left the body of a deceased member for six months trusting God to resurrect him from the dead. The Crown found no criminal intent and the grieving widow was ordered to seek public health counseling.

Escape From Detroit

Images From A Dark Detroit: “Major Cable Failure” Sparks Widespread Power Outage (ZeroHedge):

Just 15 months after Detroit’s Black Out 2013 debacle, spokespeople for the city and DTE Energy confirmed at around 11:00 a.m. local time on Tuesday that most of Detroit’s municipal grid is offline:

*DETROIT CITES ‘MAJOR CABLE FAILURE’ FOR POWER OUTAGE
*DETROIT: OUTAGE IS AFFECTING ALL CUSTOMERS ON THE PLD GRID

The outage is preventing power from being delivered to police stations, schools, traffic lights and other city-run facilities and services.

muppets-kermit-dead

It’s Muppet-Slaughtering Time – Goldman Unveils 2015 Global Equity Themes (ZeroHedge):

Goldman Sachs’ 2015 global equity views and themes note is out and its title “The Long Grind Higher Continues” says it all… it’s muppet slaughtering time…

Mexicans march against president as fresh graves discovered (PHOTO, VIDEO) (RT)

Ex EU President Van Rompuy “Hit The Jackpot”, Paid Almost $1Million “For Doing Nothing”  (ZeroHedge):

It’s good to be king (or Europe). Former European Council President Herman van Rompuy, derided for “damp rag” ineptness by UKIP’s Nigel Farage, will receive around $900,000 over the next 3 years as a “transition allowance” for doing absolutely nothing in retirement. What is even more egregious, as The Telegraph reports, Van Rompuy will pay a reduced “EU Community” tax rate, considerably lower than the Belgian income tax rate on his ill-gotten gains. As Farage exclaims, having driven millions of Europeans into poverty and unemployment during his reign, Van Rompuy “hit the jackpot.”

​9yo Australian girl forced into MidEast wedding – report (RT)

Almost 9000 Daily record cold temps in November alone (Ice Age Now):

8977 Record Cold temps in November vs 2022 Record Warm Temps

Intense cold continues across central U.S. (Ice Age Now):

Temperatures as much as 25 degrees or more below normal will be common across much of the central U.S. on Monday, from Texas to the Canadian border.

Michigan ski area opens with record snow (Ice Age Now):

WAKEFIELD — Indianhead Mountain opened to skiing on Friday after record snowfall has fallen this year.

Significant winter storm unfolding in eastern Europe (Ice Age Now):

Romania to be hardest hit


Parts of southern and eastern Romania will face severe disruptions to travel and daily routines, while bordering areas of Bulgaria, Moldova and Ukraine will have some impacts from a significant winter storm, says meteorologist Eric Leister.

The cities of Craiova, Bucharest and Bacau are in the area that will be hardest hit.

Eastern Turkey – Heavy snowfall reduces visibility to 16 feet (5 m) (Ice Age Now):

1 Dec 2014  – Due to heavy snowfall, the city of Bitlis soon took on white blanket.

In particular, blizzard conditions in the locality Rahvan between Bitlis and Tatvan reduced visibility to 5 meters, catching many unprepared many vehicles on the road.

The Fed’s Biggest Nightmare: Consumers Are “Losing Faith” Their Cost Of Living Won’t Keep Rising (ZeroHedge):

Filed under “insane paragraph of the year,” Reuters pens one of the most-telling sentences of the year/decade/century, suggesting – as per the existential threat to the Fed’s meme – that consumers are worried that their cost of living won’t go up more?

20141201_Fed

via Reuters

Translation: Please dont lose faith that your cost of living will stop soaring: the Fed’s very existence depends on it.

Obama appoints Ashton Carter as Pentagon chief (RT):

President Barack Obama is expected to announce Ashton B. Carter as his nominee to be the next secretary of defense, the Associated Press reports. Carter served as the Pentagon’s second-in-command from October 2011 to December 2013.

Global News Update: Nov 27, 2014

–  NATO To Deploy Tanks In Eastern Europe Shortly After VP Of Europarliament Says Ukraine-Russia War Imminent (ZeroHedge):

Just when global financial markets had shrugged off Ukraine as yet another ‘storm in a teacup’, it appears events are escalating rapidly once again. This morning saw European Parliament’s Vice President Saryusz-Wolski warn “Russia’s pressure on Ukraine is mounting high, further war imminent,” to which Ukraine’s President Poroshenko rapidly responded (via Twitter) rather ominously that a third world war does not scare us,” having noted earlier than Ukraine needs to achieve NATO membership. This then prompted NATO’s top military commander to warn, he is “very concerned” that Russia’s military build-up in the annexed Crimean region could be used as a launchpad for attacks across the whole Black Sea region; leaving the alliance confirming that NATO plans to deploy tanks in Eastern Europe.

“Panicking” Ukrainians Face Soaring Prices, Warn “Inflation Is War” (ZeroHedge):

With Ukraine, according to President Poroshenko, on the verge of World War III, it appears the people of the divided nation face another all too familiar war… on their living standards. As Hyrvnia continues to collapse to record-er lows, Ukraine’s Central Bank warns of further stress and FX (think USDollar or EUR) demand because the “population is in panic.” With a 19.8% inflation rate last month and a 48% devaluation in the currency this year, Bloomberg reports the costs of imported goods from gasoline to fruit and from medicine to meat is soaring. One store-owner reflected that she “feels the hryvnia devaluation everywhere,” and another noted “I can’t imagine how people survive on a single pension. We can’t even go to the drug store. We try to use herbs instead.” The Central bank expects inflation to keep rising (having previously peaked at 10,256% in 1993 as the Soviet economy was dismantled). “Inflation is the same as the war,” warns one analyst, “it may lead to protests if people blame the authorities for failing to conduct proper policies.”

 – Plans for UCLA visit give rare glimpse into Hillary Clinton’s paid speaking career (Washington Post):

When officials at the University of California at Los Angeles began negotiating a $300,000 speech appearance by Hillary Rodham Clinton, the school had one request: Could we get a reduced rate for public universities?The answer from Clinton’s representatives: $300,000 is the “special university rate.”

“There Will Be Blood”: Petrodollar Death Means A Liquidity And Oil-Exporting Crisis On Deck (ZeroHedge):

Recently we posted the following article commenting on the impact of USD appreciation and dollar circulation among oil exporters, as well as how the collapsing price of oil is set to reverberate across the entire oil-exporting world, where sticky high oil prices were a key reason for social stability. Following today’s shocking OPEC announcement and the epic collapse in crude prices, it is time to repost it now that everyone is desperate to become a bear market oil expert, if only on Twitter…

 …

“Gold is the world’s most persistent bubble: 6,000 years old and going strong” – Citigroup’s Willem Buiter.

Dear Willem, thank you for that valiant effort. After reading a few thousands words of shallow propaganda we understand your “confusion”: our advice, if you want to understand what gold really is, read the following from Kyle Bass: “Buying gold is just buying a put against the idiocy of the political cycle. It’s That Simple.” Because if there is a bubble that is even bigger and longer than the “6000-year-old gold bubble” it is that of human corruption, greed, and idiocy. And that doesn’t even include the stupidity of those who don’t grasp this simple truth.

Thankful For Inflation? Turkey Day Dinner Is Up 6,000% Since 1909 (ZeroHedge):

While not hyperinflating, the slow and insidious diminishment of the fiat US Dollar’s purchasing power (and thus the living standards of lower- and middle-class Americans – who are not balls deep invested in the US stock ‘market’) is nowhere more evident than in the soaring costs of Thanksgiving Day dinner during the Fed’s 100 year reign…

thanksgiving graphic_1

INFLATION MAKES TURKEYS OUT OF US ALL (The Burning Platform):

Central bankers always seem worried about deflation. The cost of Thanksgiving dinner is about the same as last year. Is it a bad thing that your costs didn’t go up? If we hadn’t experienced Federal Reserve created inflation over the last 18 years the cost of your Thanksgiving dinner would be about $21. But thank Greenspan, Bernanke and Yellen for the increase to $50. Everyone give thanks to central bankers for costs more than doubling in the last 18 years.

Vaccines Don’t Work: Malignant Mumps In MMR Vaccinated Children (Activist Post):

A new study finds highly malignant mumps infections in those successfully vaccinated against the virus…

A provocative new study titled, “Epidemic of complicated mumps in previously vaccinated young adults in the South-West of France,” reveals that the MMR vaccine, despite generating high rates of presumably protective IgG antibodies against mumps, does not always translate into real-world immunity against infection as we have repeatedly been told. To the contrary, the study details cases where, despite finding the presence of high levels of antibodies against the mumps virus, patients contracted a malignant form of mumps that only rarely follows from natural, community acquired infection.

Vaccine Failure Is Well Established In the Scientific Literature

Russia Ruble Plunges To New Record Low After OPEC Decision (ZeroHedge)OPEC Decision Is “Major Strike Against The American Market”, Russian Tycoon Says (ZeroHedge):

As we warned yesterday, the last time that U.S. oil drillers got caught up in a price war orchestrated by Saudi Arabia, it ended badly for the Americans. OPEC’s decision not to cut production, and Nigeria’s comments on the need for burden-sharing among non-OPEC members, ensures a crash in the US shale industry according to Leonid Fedun (Russia’s Lukoil board member). The Russian finance minister’s comments that oil at $80 in coming years is moderately optimistic and as Fedun ominously warns, this is a “major strike against the American market.” Isolated, much?

Nonviolent Action: Minimizing the Risk of Violent Repression (RINF):

In a recent article, full of insight, Professor Bill Quigley identified ten different illegal actions police often take ‘to prevent people from exercising their constitutional rights’ to take nonviolent action to address a grievance. He noted that these police tactics are commonly used by law enforcement agencies in big protests across the US. See ’10 Illegal Police Actions to Watch for in Ferguson’.

List of countries overthrown by the CIA. Is America next? (InvestmentWatch)

H/t reader M.G.:

Happy gobble day……”

ACLU of Florida Comment on Ferguson Grand Jury Decision (Common Dreams):

MIAMI, FL – The grand jury in Ferguson, Mo., has declined to indict Ferguson Police Officer Darren Wilson on charges in the Aug. 9 shooting death of Michael Brown. The following reaction is from Howard Simon, executive director of the American Civil Liberties Union of Florida:

What the Fake Syria Sniper Boy Video Tells Us About Media Experts (Activist Post):

Many mainstream media websites helped a fake video go viral this month. The video showing a young Syrian boy running through sniper fire to save a little girl was exposed as a fake when the Norwegian producer, Lars Klevberg, made the fact public.

One of the stated aims of the Norwegian film makers was to “see how the media would respond to a fake video.” This article examines how that experiment went.

The Western press very quickly accepted the video as real and used it to support the US administration’s narrative on Syria. Many top US news sources began to spread the story. Even though the producer said he explicitly added big hints that the video was fake, like the children surviving multiple gun shots.

A Major International Monetary Crisis is Looming: The Suppression of Gold and Silver? Is COMEX being Cornered? (Global Research):

So we had two outside reversal Fridays in a row, this was followed by the action this past Wednesday.  80 tons of gold was sold over a 15 minute timespan which knocked gold down $20 in the blink of an eye.

80 tons!  Let me put this in perspective.  80 tons is equal to two weeks worth of global gold production …sold in just 15 minutes!  This is nearly 2.8 million ounces. The interesting thing is, COMEX only claims to have 865,000 ounces of gold available for delivery so more than 3 times the amount of ounces were sold in 15 minutes than is even claimed as available for delivery! What followed however was the real stunner, very shortly afterward gold dug in its heels and started to recover …recover to unchanged in price!  Do you see the importance here?  Though this was not another outside reversal day, it may have been even more important.  The “paper” market absorbed two weeks worth of production in just 15 minutes without breaking!  I’ll get back to this shortly and tie it in to the rest.

Blood money: 7 UK firms finance globally banned cluster bombs (RT):

Since 2011, 151 financial institutions worldwide have invested £17 billion in firms that produce deadly cluster bombs, which are banned under international law. Seven of these financial institutions are British.

A report entitled ‘Worldwide Investments in Cluster Munitions’ conducted by Dutch peace and security NGO PAX reveals the sheer scale of British and global investment in companies producing these outlawed weapons.

The deadly arsenal have been deployed in Syria and Ukraine in recent times, and continue to cause casualties in Laos half a century after they were dropped on civilians.

 – Fukushima Engineer: Officials covering up how badly groundwater is contaminated — Scientist: “We’re measuring higher levels off Japan” — Radiation near California already exceeds expectations, will be rising for years to come — TV: “Cleanup can’t be done… They lied from the start, Tepco is a den of inequity” (VIDEOS) (ENENews)

Fukushima fallout on vegetation in South Florida exceeded gov’t notification limit by over 1,000% — Nearly triple the highest level reported anywhere on West Coast (ENENews)

Are You Better Off This Thanksgiving Than You Were Last Thanksgiving? (Economic Collapse)

India ashram clashes leave hundreds injured (RT)

Epic snow storm: Western NY digs out after record flurry (RT)

The Federal Reserve Is At The Heart Of The Debt Enslavement System That Dominates Our Lives (Economic Collapse)

The Eight Families’ Rigged Oil Game

The Eight Families’ Rigged Oil Game (Veterans Today, May 13,  2014):

After World War II – during which Royal Dutch Shell Chairman Sir Henry Deterding loudly supported the Nazis, while Exxon and Texaco collaborated with the Nazi I.G. Farben combine – the Four Horsemen turned their full attention to the Middle East. There the cartel operated under names like Iranian Consortium, Iraqi Petroleum Company and ARAMCO.With the rise of the Organization of Petroleum Exporting Countries (OPEC) as a producer cartel, the companies devised increasingly sophisticated ways to diminish OPEC’s collective bargaining ability.

Nationalistic governments were destabilized, discredited and overthrown by the CIA at the behest of Big Oil.  Henry Kissinger set up his International Energy Agency (IEA), which the French called a machine de guerre.

Read moreThe Eight Families’ Rigged Oil Game

Why Libya? – There’s NO AL-QAEDA – Warning – U.S TO BOMB Syria – WW3 (Video)


YouTube Added: 01.10.2013

Description:

This video documents how the U.S created Al”qaeda to foment ww3. And to be an extension of the U.S army, to overthrow the opposition forces, and keep the World bankers in power. World bankers need ww3 to acquire the existing powers they have not yet brought into control. After ww3 they will control us as slaves since there will be no more opposition. We need to stop ww3 and to do this we have to end the federal bank. We can do this by refusing to elect their president puppets into office again. Don’t be fooled again.

Flashback:

The Real Reason Why They Killed Muammar Gaddafi (Video)

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

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

Hugo Chavez: US Wants To Destroy OPEC


Venezuelan President Hugo Chavez. Photo: EPA

US wants to destroy OPEC – Chavez (Voice of Russia, Dec. 14, 2011):

The United States wants to destroy the Organization of Petroleum Exporting Countries (OPEC) said Venezuelan President Hugo Chavez on Tuesday.

He pointed out that such was the case as proven by Washington carrying out aggression against Iraq and Libya, and speaking of threats against Venezuela, Ecuador and other countries of the Organization.

Chavez demanded that Washington cease all threats against Iran and other countries.

The leader of the Bolivarian revolution advised U.S. President Barack Obama and Americans to “devote themselves to managing their own country and leaving the rest of the world alone.”

TASS

Flashback:

U.S. General Wesley Clark (Ret.) (Video), explains that the Bush Administration planned to take out 7 countries in 5 years:

Iraq, Syria, Lebanon, Libya, Somalia, Sudan, Iran.