Tag Archives: 26 June

ZeroHedge – Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan Or Rubles – 26 June 2014

ZeroHedgeA little over a month ago, when Russia announced the much anticipated “Holy Grail” energy deal with China, some were disappointed that despite this symbolic agreement meant to break the petrodollar’s stranglehold on the rest of the world, neither Russia nor China announced payment terms to be in anything but dollars. In doing so they admitted that while both nations are eager to move away from a US Dollar reserve currency, neither is yet able to provide an alternative. This changed rather dramatically overnight when in a little noticed statement, Gazprom’s CFO Andrey Kruglov uttered the magic words (via Bloomberg):


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Argentina Sounds Alarm, Says Close To ‘Technical Default’ – 26 June 2014

RT logoArgentina’s economy is on a collision course, and is headed for default following a US Supreme Court ruling that could send creditors demanding bond payments, Economic Minister Axel Kicillof warned UN diplomats.

By June 30, the country needs to pay out creditors for billions of dollars of bonds that were issued before its $95 billion default in 2001.

“Whichever way you look at it this ruling is forcing Argentina towards the risk of economic crisis,” Reuters quotes Kicillof talking at the UN headquarters in New York on Wednesday.

Read the full story at: www.rt.com / link to original article

Jon Rappoport – One day In 1913, Woodrow Wilson Had A Shocking Thought – 26 June 2014

jon7President Woodrow Wilson was one of those men who saw a horrible danger to his country, looked it in the eye, and decided that, instead of trying to decentralize and dismantle that overarching power, he would hope against hope that greater cooperation among leaders of nations would bring sanity and peace and freedom of the individual.

Of course, he was wrong.

Wilson knew he was entangled with those very powers that were destroying the best of what American stood for. Continue reading

Visa To Create Its Own Processing Center In Russia – 26 June 2014

RT logoVisa has decided to build its own processing center in Russia within 2 years as the international payment systems look for a solution to stay operational in the country.

The other big international player in Russia’s payment systems market – MasterCard – chose to look for a Russian partner to provide interbank processing and has already announced a tender for Russian companies

After Visa and MasterCard suspended servicing cards issued by a number of Russian banks due to US sanctions, Russia required foreign systems to pay a quarterly security deposit of 25 percent of their daily turnover.

Read the full story at: www.rt.com / link to original article

China Plans Investment Bank To Break World Bank Dominance – 26 June 2014

RT logoChina is moving forward with a plan to create its own version of the World Bank, which will rival institutions that are under the sway of the US and the West. The bank will start with $100 billion in capital.

The Asian Infrastructure Investment Bank (AIIB) will extend China’s financial reach and compete not only with the World Bank, but also with the Asian Development Bank, which is heavily dominated by Japan. The $100 billion in capital is double that originally proposed, the Financial Times (FT) reported.

A member of the World Bank, China has less voting power than countries like the US, Japan, and the UK. It is in the ‘Category II’ voting bloc, giving it less of a voice. In the Asian Development Bank, China only holds a 5.5 percent share, compared to America’s 15.7 percent share and Japan’s 15.6 share.

Read the full story at: www.rt.com / link to original article

‘US Aims To Thwart Chinese Silk Road Project Proclaiming Ots Asia Pivot’ – 26 June 2014

RT logoA Chinese idea of creating two New Silk Roads could be a big boom for a lot of people who live along the Silk Road route, and obviously all the countries at both ends of it, China expert Ann Lee told RT.

RT:What do you think is behind China’s move to establish a global financial institution to rival the World Bank?

Ann Lee: China has announced that they want to create two New Silk Roads actually. One that connects Central China all the way to Europe [via] high-speed railway and other means of transportation, and then they would also like to create connections all the way down to Malaysia and possibly India. So this is a lot of infrastructure investment and China has been somewhat frustrated with the World Bank and the Asian Development Bank, in terms of the funds coming out from these entities to support infrastructure projects that will connect these regions. I think China basically decided that if they want anything done here they will just have to fund it themselves and bring along a bunch of partners. That is the prime motivation, which is largely to expand trade and economic influence.

Read the full story at: www.rt.com / link to original article

ZeroHedge – Germany Scores First: Ends Verizon Contract Over NSA Concerns – 26 June 2014

 ZeroHedgeIt appears Germany has come out swinging ahead of today’s FIFA World Cup match:

Is this the “boomerang” that Putin warned Obama about?

As AP reports,

The German government is canceling a contract with Verizon over fears the company could be letting U.S. intelligence agencies eavesdrop on official communications. The Interior Ministry says it will let its current contract for Internet services with the New York-based company expire in 2015. The announcement comes after reports this week that Verizon and British company Colt provide Internet services to the German parliament and other official entities.

Read the full story at: www.zerohedge.com / link to original article

ZeroHedge – Up To $80 Billion Gold-Backed Loans Are Falsified, Chinese Auditor Warns – 26 June 2014

ZeroHedgeAs the probe into alleged fraud at Qingdao continues to escalate (with liquidity needs growing more and more evident as Chinese money-market rates surge), Bloomberg reports that China’s chief auditor discovered 94.4 billion yuan ($15.2 billion) of loans backed by falsified gold transactions, in “the first official confirmation of what many people have suspected for a long time – that gold is widely used in Chinese commodity financing deals.” As much as 1,000 tons of gold may have been used in lending and leasing deals in China and Goldman reports that up to $80 billion false-loans may involve gold. As one analyst noted, this was unlikely to have a significant impact on the underlying demand for gold in China and as we have pointed out before, any unwind of the Gold CFDs would lead to buying back of ‘paper’ gold hedges and implicitly a rise in prices.
Read the full story at: www.zerohedge.com / link to original article


ActivistPost – Michael Snyder – Stone Cold Proof That Gov’t Economic Numbers Are Being Highly Manipulated – 26 June 2014

Logo_activistpost-comHow in the world does the government expect us to trust the economic numbers that they give us anymore? For a long time, many have suspected that they were being manipulated, and as you will see below we now have stone cold proof that this is indeed the case.

Read the full story at: www.activistpost.com / link to original article

PoliticalVelCraft – Volubrjotr – Muslim Brotherhood’s Turkey: Shuts Off Euphrates Water To Syria & Iraq – 26 June 2014

Political Vel Craft

Water and Wheat: Obama ISIS Deadly Weapons!

The Turkish government recently cut off the flow of the Euphrates River, threatening primarily Syria but also Iraq with a major water crisis. Al-Akhbar found out that the water level in Lake Assad has dropped by about six meters, leaving millions of Syrians without drinking water.

Two weeks ago, the Turkish government once again intervened in the Syrian crisis. This time was different from anything it had attempted before and the repercussions of which may bring unprecedented catastrophes onto both Iraq and Syria.

Violating international norms, the Turkish government recently cut off the water supply of the Euphrates River completely. In fact, Ankara began to gradually reduce pumping Euphrates water about a month and half ago, then cut if off completely two weeks ago, according to information received by Al-Akhbar.

Read the full story at: www.politicalvelcraft.org / link to original article