ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Sep 18 14:38

Pepe the Frog Creator Sends DMCA Take Down to Reddit

... Wants The_Donald to Police Pepe Use... SAD!

Sep 18 12:53

Solutions: Stop Using YouTube

SHOW NOTES AND DISCUSSION: corbettreport

Sep 18 11:13

Wildfires are bankrupting western states, accelerating their financial demise

As hurricanes batter Texas, Louisiana, and Florida, a fiery hell burns on through the night in the western United States. The year 2017 is on pace to be the worst year for forest fires. The two main firefighting agencies, the U.S. Forest Service and the U.S. Department of Interior, have spent more money combating fires than ever before — $2.1 billion so far.

Drought-stricken areas, low humidity, and lightning storms have sparked countless fires in poorly managed federal lands spanning from Oregon to Montana. Western states are using up all their resources to control the blaze and Montana is on the verge of financial demise.

Sep 18 10:59

John McAfee accidentally just revealed why Bitcoin is a total fraud: Behold the logic of “artificial work”

However, sir… you called Bitcoin ‘a fraud.’ I’m a Bitcoin miner. We create Bitcoins. It costs over one thousand dollars per coin to create a Bitcoin. What does it cost to create a U.S. dollar? Which one is the fraud? Because [the dollar] costs whatever the paper costs, but it costs me and other miners over a thousand dollars per coin – it’s called ‘proof of work.’

Sep 18 10:56

The Infowar Attack Against Azerbaijan Is Because of Geopolitics, Energy, and “Israel”

Azerbaijan has suddenly been subjected to a massive infowar attack in response to its increasingly independent foreign policy reducing the US’ level of control over this strategic energy supplier, and the end result of this coordinated operation is to replace the Turkic county with “Israel” as the EU’s anchor in a reconstructed Southern Energy Corridor.

Sep 18 10:09

4 of 10 Americans have $0 in savings

Sep 18 09:26

Jim Rogers Warns "If Trump Starts A Trade War With China, It Will End US Hegemony"

Following Treasury Secretary Mnuchin's threat that the US could impose economic sanctions on China if it does not implement the new sanctions regime against North Korea:

"If China doesn’t follow these sanctions, we will put additional sanctions on them and prevent them from accessing the US and international dollar system, and that’s quite meaningful."

Billionaire investor and commodity guru Jim Rogers has a warning for the Trump administration - this would hurt America more because it just forces China and Russia and other countries to cooperate.

Sep 18 09:26

"Central Banks Are Petrified" Chris Martenson On The Hyperinflationary Threat Of "China Dumping The Dollar"

At the center of the danger zone is the declining U.S. dollar. Martenson explains,

“We are talking about a steady erosion of the dollar as a reserve currency. I think that is most likely. The only thing that could make that really go fast is some kind of war. The United States and China, we got to keep our eye on this because Trump has been threatening a trade war with China. China responded and said if you do that, we may dump the dollar. . . . So, there is all this trade and financial back and forth and maybe even actual war at some point...

China has the ability to really impact the dollar in a big way on the world stage. We better hope it does not come to that because a slow erosion we can adjust to; a quick erosion is going to really roil the markets and maybe blow a few of them up.”

Sep 18 09:25

Algeria Officially Launches Helicopter Money Amid Sliding Oil Revenue, Budget Crisis

On Sunday, Algeria’s prime minister unveiled a plan to plug the country's budget deficit as the the OPEC member state looks to offset lower oil revenue by directly borrowing from the central bank, while avoiding international debt markets. In other words, direct monetization of debt, which bypasses commercial banks as a monetary intermediate, and is better known as "helicopter money."

Sep 18 09:08

Trump & Netanyahu Families Now Determine All Our Future Lives

The United States of America is the world’s greatest super-state with the largest economy/global GDP; the most powerful military machine in history backed by the largest arsenal of nuclear weapons in existence.

It’s ‘sidekick’ in the Middle East is the state of Israel. The American principal and its Israeli satellite, work in concert to control both the global economy and international politics through their combined position in the United Nations and through the economic and political power of the US Congress. All this is done publicly with no attempt to hide this extraordinary blatant, bilateral US-Israeli agenda.

That agenda is to overtly increase its economic and political power to the exclusion and at the expense of the rest of the world i.e. the other 191 member states of the United Nations General Assembly. This is no secret pact but a stated aim of the US President.

Sep 18 08:58

VENEZUELA HAS OFFICIALLY ABANDONED THE PETRODOLLAR – DOES THIS MAKE WAR WITH VENEZUELA MORE LIKELY?

History has shown that when the status of the petrodollar is threatened, the U.S. is swift to take action.

And it is very interesting to note that President Trump will be meeting with Latin American leaders next week, and the main topic for discussion will be “the Venezuela crisis”…

U.S. President Donald Trump has invited three Latin American leaders to dine with him next week in New York as he seeks to address the Venezuela crisis and build bridges with the region after an acrimonious start with neighbor Mexico.

The political and economic turmoil in Venezuela, source of 10 percent of the oil consumed by the United States, will almost certainly top the agenda when he receives the center-right presidents of Peru, Colombia and Brazil at Trump Tower on Monday evening, diplomats said.
Could this latest move by Venezuela be enough to potentially spark a military conflict?

"The guys over at Zero Hedge seem to think so…

Webmaster's Commentary: 

The US government, practically, cannot afford to be supporting any more wars than it already has on its plate, and they can barely afford the continuing wars in Somalia; Libya; Iraq; Afghanistan; and Yemen.

I do hope and pray that the Deep State triumverate at the White House, which consists of Mc Master, Kelly, and Mattis, are not quietly suggesting to President Trump that a war against Venezuela (in retaliation for its dumping the dollar) is a war that the US military can actually win, when the US military is already pulled in a zillion directions by the existing wars from which it cannot, years on, extricate itself with anything which approximately resembles victory.

Sep 18 08:19

'We Must Take Countermeasures': US Anti-Russian Sanctions Anger German Business

German companies working in Russia have unanimously rejected the new anti-Russian sanctions law adopted by the US last month, a survey by the German-Russian Chamber of Commerce (GRCC) has found.

Sep 17 16:51

Aug 30 Flashback: Tim Cook Sure Is Selling Stock at a Weird Time

Stock-market investors are over the moon about the prospects for Apple's next iPhone. But the company's top executive isn't sending the most bullish signal.

Apple Inc. CEO Tim Cook in recent days sold about $43 million worth of company stock, according to a regulatory filing, reflecting a sale of all the net shares he was awarded last week for his job performance.

It's a nice time for Cook to get handed a big batch of Apple stock. Shares hit an all-time high on Tuesday and have climbed 41 percent so far this year. But it might not be the greatest time to sell Apple shares, if you believe the company is on the cusp of (further) greatness.

Apple CEO Tim Cook recently sold all the net shares from his annual stock award; it's only the second time in five years that he's done so.

Sep 17 12:57

Market Shock Coming...

Sep 17 12:27

Long-Term Mortgage Delinquencies Seriously Under-Reported

This clarification confirmed my belief that many – if not most – of the borrowers were now delinquent for several years. My response: FIGURES LIE and LIARS can FIGURE. Makes perfect sense to me!

Sep 17 08:42

iPhone X launch: Apple share price PLUNGES after iPhone 8, 10 release amid delay worries

Investors were on edge ahead of the iPhone X launch, amid hopes the new features would justify the gadget's $999 price tag (which is expected to sell for about £760 in the UK), 10 years after the first iPhone was released.

The tech giant's stock price jumped initially jumped after the release, but losses picked up on Wednesday, with the value sinking by around 1.5 per cent.

iPhone sales are hugely important for Apple's profits, so the X and 8 models are crucial for the technology giant's outlook.

But it's feared delays could dent profits.

Sep 17 07:56

US Sanctions Continue to Backfire: China Opens $10 Billion Credit Line for Iran

Assisting Tehran with sidestepping an ongoing Washington sanctions regime against the country, China has opened a $10 billion line of credit intended to finance energy, transportation, water and other key Iranian infrastructure projects.

Sep 16 14:21

Unprecedented Global Risk – No One Cares

To summarise in one sentence: The world is facing risk of major (nuclear) wars, economic and financial collapse, as well as political and social upheaval. The realization of just one of these risks would be enough to change the world for a very long time. We live in a totally interconnected world and the danger is that the domino effect will trigger one event after the next until all the risks become reality.

Sep 16 14:08

Sign of the times : Toys “R” Us Enters Death Spiral… Facing Imminent Bankruptcy, Suppliers Halt Shipments

Ultimately, whatever the fate of Toys ‘R’ Us may be, it will inevitably go through bankruptcy court: according to the WSJ, in recent weeks Toys ‘R’ Us’s advisers have been hunting for a DIP loan to fund operations under chapter 11, effectively guaranteeing that a bankruptcy filing is now just a matter of days.

Sep 16 11:36

Suddenly, “De-Dollarization” Is A Thing

For what seems like decades, other countries have been tiptoeing away from their dependence on the US dollar. China, Russia, and India have cut deals in which they agree to accept each others’ currencies for bi-lateral trade while Europe, obviously, designed the euro to be a reserve asset and international medium of exchange. These were challenges to the dollar’s dominance, but they weren’t mortal threats. What’s happening lately, however, is a lot more serious.

Sep 16 09:15

Hawaii Becomes First U.S. State To Go Cashless For Marijuana Sales

By Aaron Kesel

Hawaiian state officials announced Tuesday that Hawaii will be the first state to require the sale of marijuana to be cashless, paid with a special debit card payment system next month.

“Oct. 1 is our target date to try to go cashless as much as we can,” Iris Ikeda the state’s financial institutions commissioner, told reporters at a news conference.

While marijuana is legal for medical use in Hawaii, the feds still consider it a Schedule I drug. This status has brought problems for many banks and credit unions, which is the reason why cannabis dispensaries have been cash-only...

Sep 16 08:43

Petrodollar end looming as China & allies dump it in oil trading - Jim Rogers

Beijing has announced plans to start a crude oil futures contract priced in yuan and convertible into gold. The step might lead to the emergence of a new Asia-based crude oil benchmark to compete with Brent or West Texas Intermediate futures.

Sep 16 08:33

Pennsylvania Ran Out Of Cash Tonight, Leaving $860MM Of Bills Unpaid

As equity markets spike to all new highs with each passing day, the number of fiscal crises springing up within local and state governments around the country are reaching somewhat alarming levels, even if they're being completely ignored by investors. As Reuters notes this morning, the state of Pennsylvania may become the latest example government failure when it runs out of cash later tonight leaving some $860 million worth of bills unpaid.

Sep 16 07:45

Sudan Hopes to Join BRICS in Near Future - Presidential Aide

Sudan is hoping to join BRICS in the near future, the Sudanese presidential aide and deputy chair of the High Committee for Overseeing Sudan’s Relations with BRICS, told Sputnik on Saturday.

Sep 16 07:38

Gemstones from Myanmar

With regard to Burmese gemstones, the first thing that springs to mind is high quality rubies and sapphires from Mogok in the Mandalay region. In fact, this area has been called "The Valley of Rubies" due to its glittering treasures of exceptional purity and hue, such as the famed "pigeon's blood" deep bluish-red rubies. Such prized rubies have been mined since the sixth century. In the late 1500s, the King of Burma appropriated the area and took control of its mineral wealth. For a short time, the area was freely mined, and then became a British colony, before gaining independence in 1948. From 1962 to 2011, the country was ruled by a military junta.

Webmaster's Commentary: 

And now you know one motive for the sudden hostilities in Myanmar.

Sep 16 07:34

Putin's proposals on peacekeepers no grounds for easing sanctions, says Merkel

Germany's Federal Chanceller thinks it does not create the grounds for easing the sanctions against Russia

Sep 16 07:17

Suddenly, “De-Dollarization” Is A Thing

Sep 15 15:52

Financial Institutions Call For A Market Crash In The Next 3-8 Months

Retail sales report will be released soon and it does not look good. Most of the blame will be on the hurricanes to manipulate the real situation. Jim Rickards is forecasting that the next economic crisis will occur in the next 6-8 months.

Sep 15 13:24

Terror in Myanmar as US Faces Off Against China’s “Belt and Road”

As I’ve argued previously, decisions taken by the Trump administration since January indicate a shift in US foreign policy. No longer concerned with waging petty wars on behalf of the Israel lobby and the billionaire class, attention has been focused acutely on Asia, and in particular China. Former White House Chief Strategist Steve Bannon was quite forthright about this in his August 16 interview with American Prospect magazine:

“To me, the economic war with China is everything. We have to be maniacally focused on that. If we continue to lose it, we’re five years away, I think, 10 years at the most, of hitting an inflection point from which we’ll never be able to recover.”

Without a hint of irony, Bannon later added

Sep 15 13:17

UN List of Companies Linked to Illegal Settlements in Occupied Palestine, to be Published Despite Israeli, US Pressure

According to a report published Tuesday by Israel’s Channel 2, the full list will be published in December, and will include some of the biggest firms in the Israeli industry as well as major US companies, a translation of the report from Times of Israel said.

Some of the international companies on the list reportedly include Coca-Cola, TripAdvisor, Airbnb, Priceline, and Caterpillar, in addition to Israeli companies such as pharmaceutical giant Teva, the national phone company Bezeq, bus company Egged, the national water company Mekorot, and the country’s two largest banks, Hapoalim and Leumi.

The list was recently delivered to the Foreign Ministry, the report said.

Last year, the United Nations Human Rights Council passed a resolution to support forming a database of all companies conducting business in illegal Israeli settlements in the occupied West Bank, amid fierce opposition by the United States and Israel.

Webmaster's Commentary: 

Good; it is darn well about time for these companies to be named and shamed.

Sep 15 13:15

Swindling Futurity — Jim Quinn on on why Jefferson was right.

Yesterday the government reported a “modest” August budget deficit of $108 billion. That’s one month folks. This is another example of how the government and their mainstream media mouthpieces portray horrifically bad, extremely abnormal financial data as normal and expected. They pretend everything that has happened since 2008 is just standard operating procedure. They follow the Big Lie theory to the extreme. The masses have been so dumbed down, desensitized, and taught to believe delusions, they can’t distinguish the abnormal from the normal.

Sep 15 10:40

Moody's: State Pension Liabilities Hit $1.3 Trillion

U.S. state unfunded pension liabilities hit $1.3 trillion in fiscal 2016, a $56 billion or 4.5 percent increase over the previous fiscal year, Moody's Investors Service reported.

Sep 15 09:17

Bitcoin Hits The Target – Is Its Run Over?

Sep 15 09:03

The 30 Metros in the US with the Highest and Lowest Incomes

Breath-taking differences in a vast country.

Sep 15 08:45

CalPERS Slashes Pension Payments To Retirees In Two More California Towns By Up To 90%

While we've yet to experience any large municipal pension failures, which is just a matter of 'when' rather than 'if', the small pension failures sprinkled across the state of California are starting to pile up. As The Sacremento Bee points out today, public workers in Trinity and Imperial counties are just the latest to have their pensions slashed by up to 90% as their cities admit what most of us have known for some time, namely that they're running ponzi schemes which simply don't have the funding required to payout the benefits they've promised.

Sep 15 06:58

Germany has one of the strongest economies in the world – but it's not because of Angela Merkel

The culture behind fiscal orthodoxy has enabled German business to hold down its costs, and persuade the German workforce that restraint for them is the right policy

Webmaster's Commentary: 

Comment section is far more factually accurate than article.

Sep 14 16:39

Sometimes The Poor Make It Big. Usually They Stay Poor

We all want to live in a country where all it takes is hard work and some talent for anyone to succeed. We tell ourselves that we do. We even see examples of people who “came from nothing” and ended up rich and famous.

And it’s true that it sometimes happens. Sometimes a child born into poverty grows up to become the president of the United States, a multi-billionaire, or an Olympic gold medalist.

Sep 14 16:14

Debt & Money

Sep 14 16:13

Homelessness Up By 134% Since Tories Gained Power

The number of homeless people in the UK has increased by a staggering 134 percent since the Tories came into government in 2010, according to the government’s spending watchdog.

A damning report by the National Audit Office (NAO) reveals that the number of households in temporary accommodation has increased by 60 percent in the past six years, affecting 73 percent more youngsters than in March 2011.

Sep 14 12:34

THE HOUSE TELLS SESSIONS’ JUSTICE DEPARTMENT IT WILL NOT STAND FOR CIVIL ASSET FORFEITURE

The U.S. House sent a strong message of rebuke to Attorney General Jeff Sessions on civil asset forfeiture last night. The House adopted three amendments offered to an appropriations bill that prohibit the Department of Justice from using funds to increase certain federal and local forfeiture practices. Rep. Justin Amash (R-Mich.) summed up the problem with civil asset forfeiture in one sentence. “It is an unconstitutional practice that is used to violate the due process rights of innocent people,” he said from the House floor.

Sep 14 11:33

Right "Explodes In Anger" Over Trump's New Immigration Push

Trump's base woke up to a fairly surprising flip-flop this morning from the White House on DACA and the infamous, beautiful border wall which was discussed repeatedly on the campaign trail throughout 2016. It all started when Chuck Schumer and Nancy Pelosi released the following statement after their White House dinner with the President last night:

"We had a very productive meeting at the White House with the President. The discussion focused on DACA. We agreed to enshrine the protections of DACA into law quickly, and to work out a package of border security, excluding the wall, that's acceptable to both sides."
That statement was followed up by a tweet storm (we covered it here) from the President this morning which seemingly revealed his complete support for DACA and referred to 'The Wall' as a "renovation of old and existing fences and walls" rather than the "physically imposing" yet "aesthetically pleasing" structure that he repeatedly promised his supporters.

Sep 14 11:14

Gold, Oil and De-Dollarization? Russia and China’s Extensive Gold Reserves, China Yuan Oil Market

Today, the dollar is a strange phenomenon to put it mildly. The United States since 1971 has gone from being a premier industrial nation to a giant debt-bloated casino of speculation.

Webmaster's Commentary: 

This is why Russia and China are on the "Special High Interest List" of those in the Bowels of Power in the Unhinged, Surveilled States of America; to figure out what can be done to destabilize both countries economically, including outright war against them.

Washington has plans to nuke Russia and China

This comes from one of the most sober-sided analysts I have ever read, and that is Dr. Paul Craig Roberts; when this guy creates a headline like this, you have to know that it is just both fact based, and about as serious as is a heart attack!!

Sep 14 11:04

 Sanction America, Not North Korea

Ideally, sanctions should be abolished, prohibited for any reasons.

They’re counterproductive, achieving pain and suffering alone for ordinary people in targeted countries, nothing else.

As long as they’re permitted, legally by Security Council members alone, illegal unilaterally, sanction America for its high crimes of war and against humanity, not North Korea, threatening no other countries - even though a US veto would block adoption.

A symbolic 14 - 1 statement would send a powerful message, especially if enough world community nations no longer are willing to put up with endless US wars on humanity.

The leadership of any country threatened by Washington would be foolhardy not to seek powerful weapons and munitions for self-defense.

Abandonment of powerful weapons programs by Iraq and Libya led to their rape and destruction by US-led aggression - a lesson well understood in Pyongyang.

Sep 14 11:00

Why Russia Won't Help More on North Korea

Moscow’s assistance to Pyongyang has emerged not out of a desire to promote its nuclear program, but because Vladimir Putin, the president of Russia, sees Kim very much like he see his own country: victims of a U.S.-led international system that tramples on their choices and sovereignty. Russia is itself under international sanctions intended to punish Moscow for its military actions in Ukraine. For Russia, sanctions that successfully force North Korea either to alter its military choices or lead to a change in its leadership would set a dangerous precedent—the possibility of regime change anywhere is never to be encouraged.

Webmaster's Commentary: 

The precise same kinds of situations in which these North Koreans find themselves, exist for Americans held in the corporate, for profit prisons in this country!

Sep 14 10:54

Anaheim's emergency declaration sets stage for removal of homeless encampment

Anaheim has declared a state of emergency over the ballooning homeless community along the Santa Ana River, clearing the way for the removal of hundreds of people living in a landscape dotted with trash and used hypodermic needles and lacking toilet facilities.

Sep 14 10:13

France shocked at iPhone X costing exactly French minimum wage

After Apple unveiled its shiny new iPhone X to the world, French media noted with wonder and consternation that the hi-tech gadget cost almost exactly the same as a worker on France’s minimum wage earns for a month’s labour.
"Is the iPhone X worth a SMIC?" asked a headline in Le Parisien newspaper, using the French abbreviation for the monthly minimum wage that is legally fixed at €1,149 after tax.

The cheapest version of the iPhone X, unveiled on Tuesday at Apple’s new "spaceship" headquarters in California, will be sold in France from November 3 priced at €1,159.

The newspaper marvelled at the new product’s technology, but rather snootily noted that buying it for that price was like buying a Porsche for a short commute to work when a low-cost Dacia car would do the job just as well.

Sep 14 09:50

6 Big Banks, Including Barclays and HSBC are Partnering up to Create a New Cryptocurrency

With the rise of cryptocurrencies like Bitcoin, Blackcoin and Ethereum, six major banking corporations are now partnering up to create a cryptocurrency of their own. They want to take advantage of the blockchain technology and are calling their digital coin the "utility settlement coin". This was originally developed back in 2015 by UBS – a financial services firm. Its purpose was to enable the "clearing and settling of transactions worldwide over a blockchain". Six new banks – Barclays, Credit Suisse, HSBC, MUFG, Canadian Imperial Bank of Commerce and State Street have now joined UBS, as well as several others already on the project. The banks are currently in discussions with central bank regulators in regards to their cryptocoin. According to the Financial Times, they plan to launch a commercial-grade blockchain system by 2018.

Sep 14 09:44

Bitcoin Crashes 35% In China: Beijing To Shut All Local Exchanges By End Of September

Yuan-denominated Bitcoin has crashed as much as 25% 35% in Chinese trading, plunging from 25,000 yuan to as a low of 16,000 on local exchanges BTCChina (and as low as 20,000 on OKCoin), following confirmation of last week's Caixin report that Beijing would stop cryptocurrency exchange trading. China's second largest exchange, BTC China, said that it would halt all trading on the platform beginning September 30, launching a liquidation panic.

In a statement released on Weibo, BTC China said that it would immediately stops accepting new account registrations on BTCChina Exchange. The decision was made after “carefully considering” Chinese regulatory bodies’ Sept. 4 announcement on preventing risks associated with token fundraising. A google-translated version of the statement:

Sep 14 09:43

Dear Jamie Dimon: Predict the Crash that Takes Down Your Produces-Nothing, Parasitic Bank and We’ll Listen to your Bitcoin “Prediction”

By Charles Hugh Smith

This is the begging-for-the-overthrow-of-a-corrupt-status-quo economy we have thanks to the Federal Reserve giving the J.P. Morgans and Jamie Dimons of the world the means to skim and scam the bottom 95%.

Dear Jamie Dimon: quick quiz: which words/phrases are associated with you and your employer, J.P. Morgan? Looting, pillage, rapacious, exploitative, only saved from collapse by massive intervention by the Federal Reserve, the source of rising wealth inequality, crony capitalism, privatized profits-socialized losses, low interest rates = gift from savers to banks, bloviating overpaid C.E.O., propaganda favoring the financial elite, tool of the top .01%, destroyer of democracy, financial fraud goes unpunished, free money for financiers, debt-serfdom, produces nothing of value to society or the bottom 99.5%.

Jamie, if you answered “all of them,” you’re correct...

Sep 14 09:28

Spain threatens to arrest over 700 Catalan pro-referendum mayors

- Spain's public prosecutor on Wednesday ordered a criminal probe of over 700 Catalan mayors who are cooperating with an October 1 independence referendum deemed illegal by Madrid.

The move increases the pressure on Catalan officials just one day before the pro-separatist camp officially kicks off its referendum campaign in the Mediterranean port of Tarragona.

Furious at the decision to instigate a probe, Catalan municipal associations called on all the region's mayors to protest in Barcelona on Saturday to show their "rejection of a Spanish judicial system that goes after the media, ballot papers, ballot boxes... and now mayors".

Webmaster's Commentary: 

IF the Spanish government believes that such actions are going to stop the "Catalexit" from Spain, there are seriously underestimating the Catalonians.

Sep 14 08:46

The Crushing of Equifax, Most Hated Company in America

Banks, credit card companies, and other Equifax customers squeal. Consumers (the product) squeal. Congress squeals. Investors squeal.

Sep 14 08:32

OIL RICH VENEZUELA STOPS ACCEPTING DOLLARS

Yesterday Venezuela temporarily suspended the sale of U.S. dollars through its Dicom auction system. This (and other moves) was in response to U.S. sanctions put in place by the Trump administration.

Trump claims the sanctions are there to punish the country's autocratic leaders. Maduro claims Washington's move was part of an “economic war”.

This morning The Wall Street Journal reports that the Venezuela is already telling oil traders not to accept the US currency.

Oil traders who export Venezuelan crude or import oil products into the country have begun converting their invoices to euros.

Webmaster's Commentary: 

Unfortunately, Maduro is correct about sanctions being a component to an economic war the Unhinged Surveilled States of Amerika against Venezuela, but is only one of the pieces.

And frequently, economic sanctions are a prelude to a shooting war.

One has to wonder if the next phase has American "boots on the ground" invading, to keep those huge oil reserves away from Russia.

Sep 14 07:27

Central Banks Of Central Banks Warns: This Is More Dangerous Than 2007

It has been revealed that Germany will do what ever it takes to keep the UK in the EU. Jamie Dimon says that Bitcoin is a fraud and bitcoin declines in value. Producer prices pushed up because of fuel costs.

Sep 14 05:59

Neiman Marcus announces BIG store closings

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA