Submitted by Tyler Durden on 03/22/2015 - 17:54
"The Obama administration, facing defiance by allies that have signed up to support a new Chinese-led infrastructure fund, is proposing the bank work in a partnership with Washington-backed development institutions such as the World Bank." And with that, one giant shift towards de-dollarization is now in the books.
US Officially Loses Battle Over China-Led Investment Bank
Submitted by Tyler Durden on 03/22/2015 - 11:20 Washington picked a completely unnecessary fight with China over the ostensibly non-contentious topic of infrastructure development because the US can’t stand the fact that traditionally US-dominated multinational institutions are on the verge of being supplanted by sinocentric ambition — and lost.
At least 35 countries will join the China-led Asian Infrastructure
Investment Bank (AIIB) by the deadline of March 31, the bank’s interim
chief, Jin Liqun, said on Sunday.Currently, India, Indonesia and New Zealand have expressed interest in joining the bank, he told a conference in Beijing, following a request by Britain, France, Italy and Luxembourg to become founding members.
“By deadline, (we believe) 35 countries, or more, will become founding members of the bank,” he said.
Read More @ Reuters.com
from The News Doctors:
International
Monetary Fund chief Christine Lagarde has said the IMF would be
“delighted” to co-operate with the China-led Asian Infrastructure
Investment Bank (AIIB).
The AIIB has more than 30 members and is envisaged as a development bank similar to the World Bank.
Mrs Lagarde said there was “massive” room for IMF co-operation with the AIIB on infrastructure financing.
The US has criticised the UK and other allies for supporting the bank.
Read More @ TheNewsDoctors.com
International
Monetary Fund chief Christine Lagarde has said the IMF would be
“delighted” to co-operate with the China-led Asian Infrastructure
Investment Bank (AIIB).The AIIB has more than 30 members and is envisaged as a development bank similar to the World Bank.
Mrs Lagarde said there was “massive” room for IMF co-operation with the AIIB on infrastructure financing.
The US has criticised the UK and other allies for supporting the bank.
Read More @ TheNewsDoctors.com
from KingWorldNews:
The Fed removed the word “patient” from its statement made following
the FOMC meeting that concluded on Wednesday. But, taking out that one
word proved to be mostly irrelevant. The removal of the patient language
was more than offset by the Fed’s lowering of its GDP growth estimates
and its projection for when and how high it will raise rates based on
its previously incorrect assessments of inflation and growth.
Ms. Yellen said in the FOMC press conference that removing “patient” did not mean she would become impatient with raising rates. It is clear that the dollar’s strength and the cascading economic data reported since the start of 2015 caused the Fed to push out its timing for its first rate hike and the overall level for which it will finally reach equilibrium….
Michael Pento Continues @ KingWorldNews.com
- Bank of Interenational Settlements
by John Rubino, Dollar Collapse:
Another day, another “unexpectedly” bad economic report. Lately it
seems like a lot of what US government statisticians say comes as an
unpleasant surprise for economists. The latter think a recovery is
building momentum, while the former are painting a picture of incipient
recession. The result of this systemic cognitive dissonance is that
“disappointing” has become the new favorite buzzword of headline
writers. See Bloomberg’s.
But the real surprise is that this is a surprise. The dollar has soared by a near-record amount in the past six months, making US goods about 25% more expensive on global markets, while US corporations have borrowed record amounts to buy back their stock, increasing their leverage without building appreciable new productive capacity. Families have spent the past couple of years loading up on the most debilitating kinds of debt, including student loans and subprime car loans. And interest rates on bank CDs and bond funds, which provide the bulk of retiree income, continue to fall, threatening to completely eliminate what used to be a predictable, steady source of spending on life’s necessities.
Read More @ DollarCollapse.com
The Fed removed the word “patient” from its statement made following
the FOMC meeting that concluded on Wednesday. But, taking out that one
word proved to be mostly irrelevant. The removal of the patient language
was more than offset by the Fed’s lowering of its GDP growth estimates
and its projection for when and how high it will raise rates based on
its previously incorrect assessments of inflation and growth. Ms. Yellen said in the FOMC press conference that removing “patient” did not mean she would become impatient with raising rates. It is clear that the dollar’s strength and the cascading economic data reported since the start of 2015 caused the Fed to push out its timing for its first rate hike and the overall level for which it will finally reach equilibrium….
Michael Pento Continues @ KingWorldNews.com
Drowning In Liquidity But None In The Bond Market: The Spark Of The Next Financial Crisis?
Submitted by Tyler Durden on 03/22/2015 - 18:20 What happens in the event a Fed rate hike triggers widening corporate credit spreads in a corporate bond market devoid of liquidity? Could it indeed be the case that the Fed’s highly anticipated “lift-off” will serve as the catalyst for credit market carnage? Some traders think so.After The Fed Crushed The Middle Class, It Is Targeting The American Family
Submitted by Tyler Durden on 03/22/2015 - 14:01 The divide between the rich and the poor is not only getting wider thanks to the central bank's efforts to inflate the value of the very types of assets that the poor are unlikely to own, but is in fact now destroying the American family.BIS Slams The Fed: The Solution To Bubbles Is Not More Bubbles, It Is Avoiding Bubbles In The First Place
Submitted by Tyler Durden on 03/22/2015 - 16:38 "... there is a case that policy should first and foremost constrain the build-up of financial booms – especially in the form of strong joint credit and property price increases – as these are the main cause of the subsequent bust. And once the financial bust occurs, after the financial system is stabilised, the priority should be to address the nexus of debt and poor asset quality head-on, rather than relying on overly aggressive and prolonged macroeconomic accommodation through traditional policies. This would pave the way for a sustainable recovery."- Bank of Interenational Settlements
The New Order Emerges
Submitted by Tyler Durden on 03/22/2015 - 15:43 China and Russia have taken the lead in establishing the Asian Infrastructure Investment Bank, seen as a rival organization to the World Bank and the Asian Development Bank, which are dominated by the United States with Europe and Japan. These banks do business at the behest of the old Bretton Woods order. The AIIB will dance to China and Russia's tune instead.The Fed’s Trapped In The Corner With An Empty Bucket
Submitted by Tyler Durden on 03/22/2015 - 14:51 In response to questions posed by Santelli, former Dallas Fed president Richard Fisher made two points which were both salient if not downright prophetic. The first: “Well, what worries me is how totally lazy investors have gotten, totally dependent on the Federal Reserve and I find this to be a precarious situation.” The second: “Are we vulnerable in my opinion to a significant equity market correction? I believe we are. Not only has the Fed painted themselves into an even tighter corner – they’ve left no clear path as to now kick the empty can.Germany Gives Greece One Final Ultimatum After Friday's "Optimistic" Talks Devolve Into Disagreement And Confusion
Submitted by Tyler Durden on 03/22/2015 - 13:05 "Yes, Alexis, the time has run out"Is A New Political System Emerging In This Country?
Submitted by Tyler Durden on 03/22/2015 - 12:14 Put together our 1% elections, the privatization of our government, the de-legitimization of Congress and the presidency, as well as the empowerment of the national security state and the U.S. military, and add in the demobilization of the American public (in the name of protecting us from terrorism), and you have something like a new ballgame.The Next Move For The Fed: "Trial Balloning" QE4
Submitted by Tyler Durden on 03/22/2015 - 10:28 Sometime after the initially soft Q1 GDP “print” expect a “trial balloon” of more debt monetization [QE4] issued by some FOMC constituent. Naturally this will weaken the dollar and immediately suspend/reverse the Fed’s dollar based concerns articulated earlier in this post. However, this will also serve to “piss” off both Kuroda [BoJ] and Draghi [ECB]…as their heavily depreciated and shorted currencies will, at least initially, sharply reverse course…and the continual game as to which global economic zone can depreciate their currency the fastest is “on”…again.Nearly 75% Of Biotechs Have No Earnings
Submitted by Tyler Durden on 03/22/2015 - 09:31 Adding across the entire Nasdaq Bitoech Index, the market cap is about $1.06 trillion. As for net income: $21.1 billion. In other words, the NBI now trades with a P/E of 50x, with over 80% of the entire sectort's earnings concentrated in just 5 companies.
Another day, another “unexpectedly” bad economic report. Lately it
seems like a lot of what US government statisticians say comes as an
unpleasant surprise for economists. The latter think a recovery is
building momentum, while the former are painting a picture of incipient
recession. The result of this systemic cognitive dissonance is that
“disappointing” has become the new favorite buzzword of headline
writers. See Bloomberg’s.But the real surprise is that this is a surprise. The dollar has soared by a near-record amount in the past six months, making US goods about 25% more expensive on global markets, while US corporations have borrowed record amounts to buy back their stock, increasing their leverage without building appreciable new productive capacity. Families have spent the past couple of years loading up on the most debilitating kinds of debt, including student loans and subprime car loans. And interest rates on bank CDs and bond funds, which provide the bulk of retiree income, continue to fall, threatening to completely eliminate what used to be a predictable, steady source of spending on life’s necessities.
Read More @ DollarCollapse.com
from The News Doctors:
A package of powdered tea that was imported into Hong Kong from Japan
tested positive for radioactive cesium 137, likely contamination from
the Fukushima nuclear power plant that has been in disrepair for
approximately four years.
The levels that were detected in the tea were below the limits that are considered safe by the Hong Kong government, but it was enough to raise concerns about food imports from Japan. The importer also acted quickly to take the product off the market.
According to the New York Times, food from Japan has actually tested positive for radiation on a number of occasions in the past few years.
Read More @ TheNewsDoctors.com
A package of powdered tea that was imported into Hong Kong from Japan
tested positive for radioactive cesium 137, likely contamination from
the Fukushima nuclear power plant that has been in disrepair for
approximately four years.The levels that were detected in the tea were below the limits that are considered safe by the Hong Kong government, but it was enough to raise concerns about food imports from Japan. The importer also acted quickly to take the product off the market.
According to the New York Times, food from Japan has actually tested positive for radiation on a number of occasions in the past few years.
Read More @ TheNewsDoctors.com
by Mike Adams, Natural News:
A Seattle architect named Katrina Spade has proposed a new solution
for urban food production: convert the recently deceased into nutritious
compost to feed the food crops.
The project is called the Urban Death Project, and it describes the process of turning dead humans into food as follows:
The Urban Death Project is a compost-based renewal system. At the heart of the project is a three-story core, within which bodies and high-carbon materials are placed. Over the span of a few months, with the help of aerobic decomposition and microbial activity, the bodies decompose fully, leaving a rich compost. The Urban Death Project is not simply a system for turning our bodies into soil-building material. It is also a space for the contemplation of our place in the natural world, and a ritual to help us say goodbye to our loved ones by connecting us with the cycles of nature.
The Urban Death Project website describes the project as a 501(c) non-profit, and a fundraising effort is due to launch March 30th on Kickstarter. The donate page explains, “Your gift supports the creation of a meaningful, equitable, and ecological alternative for the care and processing of our deceased.”
Read More…
A Seattle architect named Katrina Spade has proposed a new solution
for urban food production: convert the recently deceased into nutritious
compost to feed the food crops.The project is called the Urban Death Project, and it describes the process of turning dead humans into food as follows:
The Urban Death Project is a compost-based renewal system. At the heart of the project is a three-story core, within which bodies and high-carbon materials are placed. Over the span of a few months, with the help of aerobic decomposition and microbial activity, the bodies decompose fully, leaving a rich compost. The Urban Death Project is not simply a system for turning our bodies into soil-building material. It is also a space for the contemplation of our place in the natural world, and a ritual to help us say goodbye to our loved ones by connecting us with the cycles of nature.
The Urban Death Project website describes the project as a 501(c) non-profit, and a fundraising effort is due to launch March 30th on Kickstarter. The donate page explains, “Your gift supports the creation of a meaningful, equitable, and ecological alternative for the care and processing of our deceased.”
Read More…
by Dave Kranzler, Inevstment Research Dynamics:
There’s an increasing number of professional money managers who think
it will be gold which has been trading more like a currency than a
commodity recently. If the dollar is no longer king then gold looks like
a worthy successor. – Arabianmoney.net (LINK)
Several analysts, including myself, have pointed out that recently gold has been moving in correlation with the dollar rather than inversely. While many are not aware of this, the two huge moves higher made by gold during this long term bull market occurred after gold traded for a couple months in correlation with the dollar.
Read More @ InevstmentResearchDynamics.com
image/gstatic.com
Several analysts, including myself, have pointed out that recently gold has been moving in correlation with the dollar rather than inversely. While many are not aware of this, the two huge moves higher made by gold during this long term bull market occurred after gold traded for a couple months in correlation with the dollar.
Read More @ InevstmentResearchDynamics.com
image/gstatic.com
from Russia-Insider:
Russia is struggling with a number of liabilities these days. The
price for oil, Russia’s most important export good, has reached
historical lows. During the previous weeks the Ruble could only recover
slightly from its devastating slump against the Dollar, that has been
lasting for a year now.
Compared to February last year, the Russian currency now has about 40% less purchase power than the Greenback. Russia and USA are in the middle of a currency war that threatens to become an armed conflict. Not even during the cold war has the „diplomatic“ talk between USA and Russia been that harsh.
Read More @ Russia-Insider.com
hat tip:TheNewsDoctors.com
Russia is struggling with a number of liabilities these days. The
price for oil, Russia’s most important export good, has reached
historical lows. During the previous weeks the Ruble could only recover
slightly from its devastating slump against the Dollar, that has been
lasting for a year now.Compared to February last year, the Russian currency now has about 40% less purchase power than the Greenback. Russia and USA are in the middle of a currency war that threatens to become an armed conflict. Not even during the cold war has the „diplomatic“ talk between USA and Russia been that harsh.
Read More @ Russia-Insider.com
hat tip:TheNewsDoctors.com
from Washington’s Blog:
World leaders — heads of state especially — tend to be tactful people,
whatever else might be said about them. When they discover that one of
their number happens to be incredibly arrogant and psychopathic (and
some leading psychopaths are skilled charmers; they’re not necessarily
blatant about their aggressive intents like Hitler was), they don’t
generally publicize the discovery of this unpleasant fact, because doing
so would be worse than tactless: it would be downright stupid — it
would jeopardize lots of the interdependencies that nations have with
one-another. It would be counterproductive.
Read More @ WashingtonsBlog.com
World leaders — heads of state especially — tend to be tactful people,
whatever else might be said about them. When they discover that one of
their number happens to be incredibly arrogant and psychopathic (and
some leading psychopaths are skilled charmers; they’re not necessarily
blatant about their aggressive intents like Hitler was), they don’t
generally publicize the discovery of this unpleasant fact, because doing
so would be worse than tactless: it would be downright stupid — it
would jeopardize lots of the interdependencies that nations have with
one-another. It would be counterproductive.Read More @ WashingtonsBlog.com
by Tom DeWeese, News With Views:
Many Americans believe Bill Clinton has spent his years away from the
White House simply enjoying the good life of an ex-president. He gets a
full security team; travel expense around the world; a cool presidential
library equipped with full living quarters; the best tables at the
fanciest eating establishments; huge speaking fees to share his own two
cents worth of opinion on any given issue; he gets to show his face on
television as an appointed spokesman for the latest disaster relief
project; and sometimes even gets to represent the United States at some
international meeting.
A fun life, certainly. But such a description in no way represents the reality of Bill Clinton’s true impact on the world since leaving the White House.
Read More @ Newswithviews.com
image/media.sdreader.com
Many Americans believe Bill Clinton has spent his years away from the
White House simply enjoying the good life of an ex-president. He gets a
full security team; travel expense around the world; a cool presidential
library equipped with full living quarters; the best tables at the
fanciest eating establishments; huge speaking fees to share his own two
cents worth of opinion on any given issue; he gets to show his face on
television as an appointed spokesman for the latest disaster relief
project; and sometimes even gets to represent the United States at some
international meeting.A fun life, certainly. But such a description in no way represents the reality of Bill Clinton’s true impact on the world since leaving the White House.
Read More @ Newswithviews.com
image/media.sdreader.com
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