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ECONOMY

Dec 26 09:36

Gazprom Refrains From Booking Yamal-Europe's Capacity for Gas Transit on Sunday - GSA

Russia's Gazprom once again refrained from booking gas transit capacity of the Yamal-Europe pipeline for delivery through Poland for Sunday during an additional auction session, the data from GSA Platform showed.

At the regular auction session on Saturday, the offer to book Sunday capacity at the entry point to the Polish section of the pipeline, which is one of the main routes for gas supplies to Europe for Gazprom, remained unclaimed. Gazprom has been booking the pipeline capacities for transit of gas via Poland on a day-by-day basis in December. On some days, the Russian company ordered capacities at an additional session, which is held right before the start of the gas day, instead of using a regular auction. Alternatively, it used short-term intraday booking for several hours.

Dec 26 09:30

Your $1.7 billion of gold is now ours, UK tells starving Venezuelans

The recent decision, CNN reported, “ruled that recognition of heads of state and government was solely the responsibility of the British government, which had recognized [opposition leader Juan] Guaidó as Venezuela’s Constitutional interim President.”

Like most duplicitous corporate media, CNN pushed the narrative that Nicolas Maduro isn’t actually Venezuela’s elected president (he “claimed” the “widely disputed” election). But, as I wrote in March, he is president, and “Venezuela’s election process has been recognized as transparent and effective, with former US President Jimmy Carter in 2012 calling it ‘the best in the world.’ On the other hand, the Venezuelan opposition, as well as Western nations, have interfered with and attempted to sabotage elections.”

Dec 26 09:29

Build Back Bummer: Dems Stripping Biden Bill To Make It Passable

Momentum is growing for checking the scope of President Biden’s social spending and climate package as Democrats seek a method to get the bill through the Senate with Sen. Joe Manchin’s (D-W.Va.) backing.

On Sunday, Manchin effectively killed a much more wide-ranging bill, recognized as the Build Back Better Act by declaring his opposition, deeply disappointing and enraging the White House and fellow congressional Democrats.

Days later, the pain stings, though Democrats are actively pursuing answers that might find muster with the West Virginia senator, whose vote is a necessity in the 50-50 Senate evenly split between the two parties.

Dec 24 17:40

What Really Caused Inflation

Dec 24 08:51

SHORTAGES ARE GETTING WORSE AS THE GLOBAL SUPPLY CHAIN CRISIS ENTERS AN OMINOUS NEW CHAPTER

All of the shortages were supposed to be gone by now. During the first half of 2021, the blind optimists were assuring us that by the end of the year the pandemic would be over, the spike in inflation would have proven to be “transitory”, the global supply chain crisis would be resolved, and the U.S. economy would be booming. Of course the truth is that none of those things happened. In fact, overall conditions are even worse than they were six months ago. Now we are heading into 2022, and even the optimists are finding it difficult to say anything positive about the coming year.

What is 2022 going to look like if global supply chain problems continue to intensify? Not since World War II have we seen anything like the long-term shortages that we are now experiencing, and for many people this has been deeply frustrating.

Dec 23 12:01

AG Charges Walmart with Dumping Batteries, E-Waste, Insect Killers, Latex Paints, Toxic Cleaning Supplies, etc. Into Landfills

By B.N. Frank

Walmart has been found guilty of illegally dumping toxic waste in landfills before. In California, they seem to have had enough of it.

From Newser:
Walmart Faces State Suit Over Toxic Dumping

Dispute centers on hazardous waste put in California landfills

(Newser) – Walmart illegally dumps more than 1 million batteries, aerosol cans of insect killer, toxic cleaning supplies, electronic waste, latex paints, and other hazardous waste into California landfills each year, state prosecutors charged Monday in a lawsuit that the company labeled unjustified. “As we shop the brightly packed aisles there are products that will never make it into the cart—returned, damaged or pulled from the shelves for a variety of reasons,” said California Attorney General Rob Bonta, the AP reports. When stores dispose of those products, he said, they should do it properly, as everyone else has to do. But Walmart, Bonta said, “has failed to do that on a grand scale here.”...

Dec 23 09:06

Kiev asks EU to force Russia to send more gas through Ukraine

Ukraine wants to force Russia to send more natural gas through its pipelines than is stipulated in the current contracts.

The European Commission has received a complaint from Ukraine’s state energy giant Naftogaz, alleging that Russia is manipulating the energy markets by refusing to send more gas than it is obliged to, it was reported on Thursday.

According to Kiev, Saint Petersburg's Gazprom is abusing its dominant position on the European market by artificially sending less of the commodity through Ukrainian pipes, which is supposedly causing an energy crisis. Naftogaz wants Russia to be legally obliged by EU anti-monopoly laws to send significantly more quantities of natural gas through Ukraine, even though Moscow and Kiev agreed to a contract in 2019, and Gazprom has already met its obligations for 2021 in full.

Dec 23 09:04

West ‘keeps lying’ about gas crisis being Russia’s fault – Putin

President Vladimir Putin has rebuffed what he calls “lies” claiming that Moscow has contributed to the rapidly growing gas prices in Europe.

In fact, has insists the opposite is the case and his country has increased gas supplies to EU member states.

Putin was asked by Russia's Channel One during his annual end-of-year press conference on Thursday whether there was any truth in allegations that state gas giant Gazprom may be responsible for the record-high gas prices on the continent. The president strongly denied that this was the case.

“Of course, it’s not [true]. They are lying all the time,” Putin stressed. “Gazprom is delivering the volume [of gas] requested by its partners in full, in accordance with existing contracts.”

Dec 22 13:30

Russia Says 'Provocative Activity' by US, NATO in Black Sea Aims to Hamper Nord Stream 2

Russia has repeatedly warned against politicising the Nord Stream 2 gas pipeline project, which was completed in September and is currently undergoing certification by European and German regulators.

Russian Foreign Ministry spokeswoman Maria Zakharova has stated that Western countries are trying to damage the Nord Stream 2 gas pipeline project via provocative measures in the Black Sea.

"All this activity is based on the wild allergy of the US and NATO to the energy project, which is primarily beneficial to all of Europe and separate European countries", Zakharova said on Wednesday.

She added that since Washington and Brussels admitted that political pressure, aggressive rhetoric, and blackmail had not brought about their desired results in terms of halting the project, they have "switched to a different kind of action".

Dec 22 12:55

The Biggest Risk To Stocks Is Not The Fed

Dec 22 08:58

EV On Steroids: GM Betting Men Line Up Once Again To Get Their Hummers

According to the latest press release of the company, General Motors is now officially sending its Hummer EV Edition 1 pickup trucks to the market. Hummer EV Edition 1 model is built on the Ultium platform. The vehicle costs $110,295. Among its characteristics are: up to 1,000 horsepower, 11,500 lb-ft of torque, and an estimated 329-mile range.

Dec 22 08:27

Economy On The Decline And Polls Show People Are Worried

With increasing prices, worsening crime rates, and the upcoming year three of a global pandemic, 7 in 10 voters think it was another bad year for the country — and over half feel it was bad for them personally.

The new Fox Business survey of registered voters finds 70 percent say 2021 was a clunker for the country. While that is a little better than the 78 percent who felt that way about 2020, it’s still much worse than the 38 percent who called 2019 bad.

Dec 22 07:39

Ukraine pledges to stop Nord Stream 2

Kiev has a plan to obstruct the launch of the controversial Nord Stream 2 pipeline, which will bring gas from Russia to Germany through the Baltic Sea, a top Ukrainian energy executive has claimed.

Yuri Vitrenko, Chairman of the Board of state-owned energy firm Naftogaz, wrote on Facebook on Thursday that “we have a plan for further legal steps to hinder the launch of this Russian pipeline.”

He went on to say that Kiev will make the “maximum effort” to stop the project from operating, explaining that Ukrainian efforts had already worked “to delay the completion of this pipeline for more than a year.”

“This is the result of our collaboration with American and European partners,” he claimed, adding that Naftogaz had also inserted itself into the procedure for certifying Nord Stream 2, which is currently ongoing.

Dec 22 07:17

How Vulnerable Is Your Personal Supply Chain?

Americans consider abundance and ready availability as birthrights so basic they're like the air we breathe. The idea that shelves could become bare and stay bare is incomprehensible. yet that is the world we're entering, for a number of complex reasons.

One is that the world added not just another billion humans (now 7.9 billion), but one billion middle-class consumers, consumers who use about 100 times more energy per person than poor people. These additional billion middle-class consumers doubled the number of high-energy consuming humans in a few decades, and this enormous expansion of demand has consumed all the easy-to-extract resources of the planet. There are no cheap, easy-to-extract resources left; all that's left is expensive to reach, extract, transport, etc., and since energy is the master resource, as its cost rises, so does the cost of literally everything that depends on energy.

Dec 21 12:25

No, the Bottom is NOT In, New Lows Are Coming

Dec 21 11:31

Middle America Enjoying The Fruits Of This Leftist State Exodus

Tech executives and employees have fled Silicon Valley throughout the pandemic, attracted to red states by a lower cost of living, the possibility of remote work, and low taxes.

For example, Northern California has undergone a "brain drain" to states like Texas, Florida, Colorado, and Utah.

Dec 21 09:43

Caracas: Decision by UK Court on Venezuelan Gold Poses Major Risks for Investors

Venezuela has condemned the decision by the UK Supreme Court on Venezuelan gold, saying that the ruling creates serious risks for investors who have entrusted their funds to the British financial system, the Venezuelan Foreign Ministry said on Tuesday.

"This decision violates the norms of Public International Law, the Venezuelan constitutional order, and British legislation, at the same time it represents serious risks for the investments that the international community has entrusted in the United Kingdom's financial system, since it resorts to fraud to illegally seize the resources entrusted to it", the ministry said in a statement.

Dec 21 09:15

Gas Futures Prices in Europe Top $2,000 per 1,000 Cubic Meters for 1st Time

Gas futures prices in Europe on Tuesday topped record $2,000 for 1,000 cubic meters minutes after breaking another record of $1,937.

As of 11:53 GMT, the price of ICE futures for Dutch index TTF reached $2,004 per 1,000 cubic meters, which is almost 17% higher than Monday's settlement price of $1,716.7.
Earlier in the day, the price of ICE futures on the Dutch index TTF has topped record $1,953 per 1,000 cubic metres.

Europe has been experiencing skyrocketing natural gas prices since autumn amid a growing demand for energy in the post-pandemic global economy and limited flow from major suppliers.

Back in early August, the estimated price of the nearest futures on the Dutch TTF index was about $515 per thousand cubic metres; by the end of September, the price had more than doubled.

Dec 21 08:59

Watchdog Warns Biden Will Install Build Back Better Through Executive Orders

A regulations watchdog predicted that President Joe Biden will try to use executive orders to implement his $2 trillion Build Back Better legislation.

Clyde Wayne Crews, of the Competitive Enterprise Institute, told the Washington Examiner that Biden appeared poised to expand federal regulations greatly, especially if he loses control of the House and Senate.

Former President Barack Obama called that approach ruling with a "pen and a phone" when he lost support on Capitol Hill, the Examiner said.

"Despite all the talk we have from Biden and many Democrats about protecting democracy, progressives see themselves as experts, and progressivism itself is rooted in the rule of experts," Crews told the Examiner.

Webmaster's Commentary: 

There are some serious constitutional issues with that!

Dec 21 08:57

Joe Biden Touts Supply Chain Crisis and Costly Gas Prices as 2021 Achievements

President Joe Biden over the weekend touted the supply chain crisis and costly gas prices as 2021 accomplishments.

Though 104 ships were waiting to port in Southern California, according to Marine Exchange, the White House announced it would include the number of ships waiting to dock as a 2021 accomplishment.

“The number of containers sitting on the docks at ports for over a week has been cut by half since the beginning of November, and store shelves are stocked for the holiday season,” the White House wrote.

The number of ships delayed outside the ports has not been reported below 100 since September.

Webmaster's Commentary: 

Dec 21 08:20

Biden’s Baby Is Officially Dead

And just like that, with barely a whimper, Joe Biden’s multi-trillion-dollar spending baby is officially dead.

Build Back Better, the most awkward weird-sounding name for a piece of pork-ridden legislation is toast.

And now, Biden and his staff are furious at United States Senator Joe Manchin – a fellow Democrat who represents the poverty-stricken state of West Virginia – because he was the lone Democrat to stand up and kill the baby in its crib.

Here’s what happened according to the conservative news site Breitbart:

“The White House issued a condemnation of Sen. Joe Manchin (D-WV) on Sunday after the senator said he would not vote for the Build Back Better bill, effectively killing it in its current form.

Dec 21 07:52

The Great Supply Chain Collapse

What’s at the root of the supply chain breakdown? That’s a critical question but the answer is almost irrelevant. The supply chain is a complex dynamic system of immense scale. It is of a complexity comparable to the climate as a system.

This means that exact cause and effect cannot be computed because the processing power needed exceeds the combined processing power of every computer in the world.

Most people have some notion of how supply chains work, but few understand how extensive, complex and vulnerable they are. If you go to the store to buy a loaf of bread, you know that the bread did not mystically appear on the shelf.

It was delivered by a local bakery, put on the shelf by a clerk, you carried it home and served it with dinner. That’s a succinct description of a supply chain – from baker to store to home.

Dec 21 07:50

A Timeline of “The Great Reset” Agenda

Say it’s 2014 and you’ve had this idea for a technocratic Great Reset of the world economy for some time now, but it only works if the entire planet is rocked by a pandemic. How do you go about selling your idea?

“The pandemic represents a rare but narrow window of opportunity to reflect, reimagine, and reset our world to create a healthier, more equitable, and more prosperous future” — Klaus Schwab, WEF

If you are World Economic Forum (WEF) Founder Klaus Schwab, you attempt to sell your vision of a global Utopia via a Great Reset of the world order in three simple steps:

Announce your intention to revamp every aspect of society with global governance, and keep repeating that message

When your message isn’t getting through, simulate fake pandemic scenarios that show why the world needs a great reset

If the fake pandemic scenarios aren’t persuasive enough, wait a couple months for a real global crisis to occur, and repeat step one

Dec 21 07:48

Is Joe Biden About To Impose Destructive New Restrictions On The U.S. Economy In Order To Fight Omicron?

It seems like it was just yesterday that we were told that a new variant called “Omicron” had been discovered in southern Africa. Now it is being reported that Omicron is suddenly spreading like wildfire all over North America and Europe, and we are being told that a very “dark winter” is ahead of us. Of course whenever case numbers start rising again, the Biden administration feels as though it must do something. So on Tuesday, Joe Biden is going to deliver another “major address” to the nation. Unfortunately, many are anticipating that he may introduce more destructive restrictions which could significantly damage the U.S. economy as we head into 2022.

When it comes to the pandemic, we all know that Biden listens to the “scientists”, and right now the “scientists” are scaring the living daylights out of the general public.

For example, over the weekend Dr. Television warned that Omicron will soon put severe stress on hospital systems all across America…

Dec 21 07:34

Gunmen shut four Libya oil fields: NOC

Gunmen linked to Libya's oil facilities guard force have shut down four key fields in a major blow to production, the National Oil Corporation said Monday.

The NOC reported that output was slashed by "more than 300,000 barrels per day (bpd) due to individuals from the Petroleum Facilities Guard" shutting the Sharara, al-Fil, al-Wafa and al-Hamada fields.

A spokesperson for the guards said the closure was because of a pay dispute.

"Meeting our engagements towards refineries is therefore impossible and we are obliged to declare force majeure," NOC chief Mustafa Sanalla said in the statement.

Declaring force majeure is a legal move allowing parties to free themselves from contractual obligations when factors such as fighting or natural disasters make meeting them impossible.

Dec 21 07:32

UK Virgin Islands controlled contentious East Jerusalem properties, papers show

Some of the most contested pieces of real estate in East Jerusalem have come under the legal control of the British Virgin Islands in recent years because the Israeli settlers who managed the properties used offshore accounts and failed to pay corporate fees and taxes.

The finding appeared in a series of recent reports by Uri Blau and Daniel Dolev of Shomrim, an Israeli investigative news organization, following a massive leak of records from the secretive world of offshore financial services.

The leak, known as the Pandora Papers, was shared with Shomrim and some 150 other news outlets around the world. The roughly 600 journalists involved in the project have been publishing exposés on politicians and other public figures who hold bank accounts, real estate, and other property in jurisdictions that offer secrecy and tax benefits.

Dec 21 07:20

Market Crash Warning

Dec 21 07:17

MONOPOLY: AN OVERVIEW OF THE GREAT RESET – FOLLOW THE MONEY

If you’ve been wondering how the world economy has been hijacked and humanity has been kidnapped by a completely bogus narrative, look no further than this video by Dutch creator, Covid Lie.

What she uncovers is that the stock of the world’s largest corporations are owned by the same institutional investors. They all own each other. This means that “competing” brands, like Coke and Pepsi aren’t really competitors, at all, since their stock is owned by exactly the same investment companies, investment funds, insurance companies, banks and in some cases, governments. This is the case, across all industries. As she says:

Dec 21 07:16

Greyerz – The World Has Now Entered The First Of Four Major Phases Of Chaos And Financial Destruction

Egon von Greyerz, founder of Matterhorn Asset Management (based in Switzerland): One of the most horrifying works of art is Bruegel’s “The Triumph of Death” painted in 1562. The painting depicts the end of life on earth.

I sincerely hope that this is not what the world will literally look like in the next decade or two but metaphorically this is not an unlikely depiction of the chaos that could hit us all.

Dec 21 06:55

How Vulnerable Is Your Personal Supply Chain?

Dec 21 06:51

Gazprom halts gas transit to Germany via Yamal pipeline

Deliveries of Russian natural gas to Germany through the Yamal-Europe pipeline have been completely halted, data from the country’s transport operator, Gascade, revealed on Tuesday morning.

The suspension of the flow comes after a weekend in which the volume being sent through the network dropped significantly, just as demand for energy in both Russia and the rest of Europe reached its winter peak. On Monday, it was reported that state-owned giant Gazprom, the system’s operator in Russia and Belarus, had booked no capacity at all for transiting natural gas on Tuesday.

Webmaster's Commentary: 

The brinkmanship is getting dangerous!

Dec 21 06:41

Bail-Ins To Take Place?

An upcoming banking crisis with record amount of bank loan defaults could be on the horizon. With your money on the line, banks and financial institutions could use it for either:

Bail-in - where you pay for it right now as the bank takes some of your deposits

Bail-out - where you have to pay for it through future taxation

The national debt has skyrocketed beyond a recovery point and is still increasing post covid-19. The credit worthiness of the U.S. is at risk and the government can't afford to take on more debt unless it is willing to face imminent insolvency and ultimate bankruptcy. The financial burden to stabilize this enormous debt is too great. Therefore, a bail-ins could take place sooner than expected and without any prior warning.

Dec 20 10:57

Klaus Schwab’s WEF “School for Covid Dictators”, a Plan for the “Great Reset”

Economist Ernst Wolff believes that a hidden alliance of political and corporate leaders is exploiting the pandemic with the aim of crashing national economies and introducing a global digital currency.

How is it that more than 190 governments from all over the world ended up dealing with the COVID-19 pandemic in almost exactly the same manner, with lockdowns, mask mandates, and vaccination cards now being commonplace everywhere?

The answer may lie in the Young Global Leaders school, which was established and managed by Klaus Schwab of the World Economic Forum, and that many of today’s prominent political and business leaders passed through on their way to the top.
The German economist, journalist, and author Ernst Wolff has revealed some facts about Schwab’s “Young Global Leaders” school that are relevant for understanding world events during the pandemic in a video from the German Corona Committee podcast.

Dec 20 10:54

Ukraine’s Foreign Minister Says West Discussing ‘Nuclear Option’ of Cutting Russia Off From SWIFT

Earlier this month, US media reported that Washington was mulling crushing new economic restrictions against Moscow, including cutting the country off from the SWIFT payment system, a ban on the purchase of Russian sovereign debt, and sanctions against Nord Stream 2, if Russia ‘invaded’ Ukraine. Moscow has dismissed having any plans to do so.

Western officials are actively discussing the prospect of cutting Russia off from SWIFT, and going through with it would be a big deal for Kiev, Ukrainian Foreign Minister Dmytro Kuleba has said.

“What I know from my informal conversations [with Western officials] is that they are discussing the nuclear option of disconnecting Russia from SWIFT. That would be huge,” Kuleba said, speaking to the Washington Post.

Dec 20 07:34

Stocks Sink on Worries Over Omicron and the Fate of Biden’s Agenda—and What Else Is Happening in the Stock Market Today

Stocks were falling hard as the Covid-19 variant Omicron is spurring new lockdowns in Europe, while the Federal Reserve has made clear that it is quickly removing monetary support. Plus, Sen. Joe Manchin said he wouldn’t support President Joe Biden’s $2 trillion tax-and-spending package.

Futures for the Dow Jones Industrial Average fell 366 points, or 1%. Futures for the S&P 500 declined 1.1% and Nasdaq futures were down 1.3%. Futures came off earlier lows after Moderna (ticker: MRNA) said a booster dose of its Covid-19 vaccine...

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