ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jul 27 18:05

Apple Fake Factory Caught In China

Jul 27 15:11

Columbus cancels red-light camera contract after bribe investigation in to Mayor, Current and Former City Council Presidents, + Democratic Party

Columbus has tossed Redflex out of the city, ending its already-sidelined, red-light camera program in the midst of a federal investigation into bribes a former Redflex executive

Jul 27 14:56

The Stock Market's Ugly Truth - Only 6 Stocks Matter

When we first exposed the shockingly dire lack of breadth in US equity markets, it was shrugged off by the mainstream media as yet another 'worry' in the wall to climb. It seems, however, that facts inevitably force their way to the surface and so both Bloomberg (more than 100% of this year’s increase in the S&P 500 Index is attributable to two sectors, health-care and retail. That’s the tightest clustering for an advancing year since at least 2000) and The Wall Street Journal (Amazon, Google, Apple, Facebook, Gilead and Walt Disney Co. account for more than all of the $199 billion in market-capitalization gains in the S&P 500) have been forced to expose the ugly truth about US equities... it is not a stock market - it's a market of 6 tail-chasing momentum stocks.

Jul 27 14:54

Poland, Czech Republic Won't Join "Burning" Euro

"You shouldn’t rush when there is still smoke coming from a house that was burning. It is simply not safe to do so."

Jul 27 14:40

Columbus, Ohio Gunstoppers Program Has No Record Of Any Guns Collected

The program run jointly by the city and Crime Stoppers

related?
former head of Central Ohio Crime Stoppers said he was pressured by the Mayor Coleman’s campaign manager on where to spend tens of thousands of dollars in public money
http://12160.info/profiles/blogs/former-head-of-central-ohio-crime-sto...

Jul 27 14:29

VIDEO New "Male Privilege Tax"

The country is collapsing. The masses are totally brainwashed and have a totally absurd view of how the economy works.

Jul 27 14:24

Mining job cuts: The destructive anarchy of the capitalist market

Friday’s announcement by two major global mining companies that they plan to slash tens of thousands of jobs points to the gathering crisis in the world economy. It came amid stagnation in the advanced economies, a slowdown in China and other so-called emerging markets, and the mounting instability and outright destruction of productive capacity being created by the rise of financial parasitism.

Jul 27 14:06

22 percent of US children live in poverty: Report

Nearly one in four children are living in poverty in the United States, a higher percentage compared to the poverty rate during the Great Recession in the late 2000s, according to a new report by a child advocacy group.

About 22 percent of Americans kids, 18.7 million, lived in low-income households in 2013, a four percent increase since 2008, the Annie E. Casey Foundation said in a report released on Tuesday.

Data for 2014 are not yet available, but the report anticipates that the child poverty rate remains at an “unacceptably high level.”

Jul 27 12:26

Working Class War Fodder

Who in their right mind would be prepared to fight and die for Shell, Chevron or Coca Cola? Who with half a brain would choose to put their life on the line for Goldman Sachs, Bank of America or General Electric? Any volunteers? I’m guessing there wouldn’t be many.

Jul 27 11:48

The Stock Market Will Start To Fall In July? The Dow Plummeted More Than 500 Points Last Week

Was last week a preview of things to come? There are quite a few people out there that believe that the stock market would begin to decline in July, and that appears to be precisely what is happening. Last week, the Dow Jones Industrial Average fell by more than 530 points. It was the biggest one week decline that we have seen so far in 2015, and some are suggesting that this could only be just the beginning.

Jul 27 10:35

If Syriza Ruptures, Will Greece's Left Unite to Oppose Austerity?

Dr. Panagiotis Sotiris, Member of Antarsya, talks to Dimitri Lascaris about Syriza's failure to implement its anti-austerity program and the political options that are now available to the left in Greece

Jul 27 10:09

China's Economic Collapse Explained

Jul 27 10:02

Craig Murray: democracy in the UK is dysfunctional - an entrenched party system offers no real choice.

.... The major parties offer political programmes which are virtually indistinguishable. As I put it in lectures, if the range of possible political programmes were placed on a linear scale from 1 to 100, the Labour and Conservative parties offer you the choice between 81 and 84.

This exclusion of political possibility is reinforced by a corporate media structure, led by the BBC, in which ideas outside the narrow band of establishment consensus are ridiculed and denigrated. Therefore even political ideas which have the consistent support of the majority of the population, such as nationalisation of railways and other natural monopolies including utilities, simply cannot get an airing. Of all the broadcast coverage of the Iraq War, less than 3% gave time to anti-war voices, despite a majority opinion against the war.

This phenomenon explains why a large majority of both Conservative and Labour MPs are members of the Friends of Israel when public opinion consistently sympathises more with Palestine. It also explains the quite extraordinary media onslaught against Scottish independence.

Jul 27 09:50

THE Breakdown Of 2015 Is Now A Fact

Jul 27 09:47

Federal Reserve Issues Haunting Warning To 8 Biggest US Banks…Collapse Could Be Near

The Federal Reserve voted on July 20 to direct the eight largest U.S. banks to increase their capital levels, causing many to speculate what it is seeing on the economic horizon.

The Associated Press reports that the Fed is ordering the banks to keep their capital balance sheets “above industry requirements to cushion against unexpected losses and reduce the chances of future taxpayer bailouts.”

Jul 27 09:02

As Economy Heads to Another Crash, BIS Acknowledges: We’re Failing

The Bank for International Settlements (BIS) acknowledges in its annual report that the policy of cheap money has failed. All the trillions in monetary stimulus have produced no growth in the real economy. Central banks cannot salvage the economy. Governments — fiscal stimulus — must now resolve the economic crisis. Political leadership is required.

Jul 27 08:31

Beppe Grillo - Nationalize the Banks to Throw Off ‘Anti-Democratic Straitjacket’ of Eurozone

Longtime critic of the Eurozone’s destructive commitment to austerity, Italian comedian-turned-political activist Beppe Grillo has launched what one news outlet called a “full-throated attack” on the single currency, saying his country should throw off that “anti-democratic straitjacket” by nationalizing its banks and taking a stronger stance against the demands of elite financial interests.

Grillo, who the Guardian says ”transformed Italian politics when he launched his anti-establishment Five Star Movement in 2009,” called for Italy to exit the Euro in order to guard against the threat of bankruptcy and German-imposed austerity.

In comments written at his blog, Grillo criticized Greek Prime Minister Alexis Tsipras while comparing Germany’s conduct during recent bailout negotiations to “explicit Nazism.” He said that in the wake of the Greek crisis, Italy should be prepared to use its whopping debt as a weapon against foreign creditors.

Jul 27 08:27

30 BLOCKS OF GOVERNMENT INCOMPETENCE

What is the point in spending millions of taxpayer dollars blacktopping streets which are crumbling from below? Why not fix the problems below before applying the blacktop above? Because the city is bankrupt. The infrastructure isn’t crumbling because they don’t have enough money. It’s crumbling because they have chosen to spend taxpayer money on gold plated pensions and health benefits for union government workers and teachers. They’ve wasted hundreds of millions on public schools that only graduate 50% of those entering and most of those graduates are functionally illiterate. They spend millions painting murals, giving tax breaks to mega-corporations like Comcast, and building sports stadiums for billionaires. The corruption, mismanagement, incompetence and stupidity of politicians, government bureaucrats, and union officials is breathtaking to behold.

Jul 27 08:21

CHINA JUST SHIT THE BED

Jul 27 08:07

Greece rocked by reports of secret plan to raid banks for drachma return

Some members of Greece’s leftist-led government wanted to raid central bank reserves and hack taxpayer accounts to prepare a return to the drachma, according to reports that highlighted the chaos in the ruling Syriza party.

It is not clear how seriously the government considered the plans, attributed to former energy minister Panagiotis Lafazanis and ex-finance minister Yanis Varoufakis. Lafazanis was sacked from his post and Varoufakis resigned earlier this month. However, the revelations have been seized on by opposition parties who are demanding an explanation.

The reports on Sunday came at the end of a week of fevered speculation over what Syriza hardliners had in mind as an alternative to the tough bailout terms Tsipras has reluctantly accepted to keep Greece in the eurozone.

Jul 27 07:56

The Disappearing Retirement Fund

As a general principle, I’ve always tended to avoid entrusting others with my money. I’ve avoided funds, as they are often based upon investments that are peaking or close to peaking. I’ve avoided pension funds, as they’re often structured in a similar manner.

And whenever by law I’ve been required to be invested in such funds, they’ve rarely been successful over the long term. In the end, I would invariably have made more money by pursuing those investments that had great promise but at the time were unpopular (and therefore underpriced).

As dubious as I tend to be of conventional investment schemes (and those who broker them), I am doubly dubious of any government-run scheme. Governments, historically, have proved to be poor money managers, and politicians tend to place more value on big promises that garner votes than on delivering on those promises.

Jul 27 07:36

Rob Kirby: We Are Coming Into End of Times

Jul 27 06:58

China stocks suffer biggest one-day loss in 8yrs, Shanghai Composite drops 8.5%

Chinese stocks on Monday saw their sharpest single day decline since 2007 after a renewed sell-off despite government efforts to prop up the market. China’s industrial index fall to a 15-month low adding concerns to the country’s economic health.

The Shanghai Composite Index closed down 8.5 percent at 3,725.56. The Shenzhen Index fell 7 percent to 2,160.09. Hong Kong's benchmark Hang Seng index dropped 2.8 percent to 24,356.55

More than 1,500 shares listed in Shanghai and Shenzhen dived by the daily limit.

Jul 26 21:03

NZ Mortgage rates hit 60-year low

Mortgage rates have hit a 60-year low as banks vie to undercut each other.

BNZ today shaved 30 basis points off its two-year fixed rate, down to 4.69 per cent.

Statistics New Zealand data shows commercial banks' mortgage rates have not been so low since 1955.

BNZ's move follows the Reserve Bank's cut to the official cash rate by 25 basis points to 3 per cent last Thursday.

BNZ's new rate undercuts SBS Bank's 4.85 per cent 18 month rate.

Read more:
• Reserve Bank cuts Official Cash Rate to 3 per cent - banks follow suit
• Mortgage rates fall below 5 per cent

Interest.co.nz says the rate is available to BNZ customers who have at least 20 per cent equity in their property and who have a BNZ account receiving salary or wages.

Jul 26 19:38

Greek Capital Controls To Remain For Months As Germany Pushes For Bail-In Of Large Greek Depositors

With every passing day that Greece maintains its capital controls, the already dire funding situations is getting even worse, as Greek bank NPLs are rising with every day in which there is no normal flow of credit within the economy. This has led to a massive bank funding catch-22: the longer capital controls persist, the less confidence in local banks there is, the longer the bank run (capped by the ECB's weekly ELA allotment), the greater the ultimate bail out cost, and the greater the haircut of not only equity and debt stakeholders but also depositors.

Jul 26 18:41

US hopping mad for New Zealand craft beer

Wellington craft breweries are impressing festivalgoers in the United States beer capital.

Panhead, Tuatara, Garage Project, Parrot Dog and Yeastie Boys gave the US beer capital of Portland a taste of New Zealand this week at the Oregon Brewers Festival.

The breweries are among 15 featured international brewers at the trade festival, which runs until Sunday.

About 85,000 festivalgoers attend the longest- running annual beer festival in the US, where ninety craft beers from America are also on offer.

The brewers were part of the New Zealand Craft Connection event, which helps them develop US trade connections.

Each brewer introduced their company and presented one of their beers with a matched dish of food created by Sheperd Elliott, chef at Wellington restaurant Ti Kouka.

Stu McKinlay of Yeastie Boys, said it was great to be showcasing his beer in Portland.

"We consider [Portland] to be setting the standard for craft beer worldwide," he said.

Jul 26 18:34

NZ named best place for working mothers

(Note: it could also be that mothers have to go back to work for the money because of low wages to pay for the over inflated house prices.)

It can be pretty tough for mothers returning to the workforce after caring for young children, but a new survey says New Zealand might be one of the world leaders in valuing their skills.

A survey run by Regus, which operates business centres around the world, found that three out of four New Zealand respondents saying they "value the experience and skills of mothers coming back to work after having children" the highest result of any country in the survey.

From the UK, 73 per cent saw the value, with Australia at 71 per cent and the USA 66 per cent.

When it came to France, just 40 per cent of respondents valued the experience and skills of returning mothers.

Jul 26 18:15

The Stock Market Will Start To Fall In July? The Dow Plummeted More Than 500 Points Last Week. Some Very Alarming Things Are Starting To Happen Behind The Scenes.

Was last week a preview of things to come? There are quite a few people out there that believe that the stock market would begin to decline in July, and that appears to be precisely what is happening. Last week, the Dow Jones Industrial Average fell by more than 530 points. It was the biggest one week decline that we have seen so far in 2015, and some are suggesting that this could only be just the beginning.

Jul 26 17:07

Fed Leaks, Fast Food, Housing & Gold

Jul 26 16:44

Iraq’s Oil Production Increase Due to War?

Iraq’s oil production hit an all-time high in June.

Jul 26 16:43

Netflix to be $100billion Company in Next 5 Years

If the current rate of growth continues for media giant, Netflix, experts predict that it will be a $100billion company in the next 5 years.

Jul 26 15:55

Gold’s Two Stories: Paper Markets Collapse… While The Retail Public Buys At A Record Pace

We’ve seen some significant swings in precious metals over the last several years and if we are to believe the paper spot prices and recent value of mining shares, one would think that gold and silver are on their last leg. Last weekend precious metals took a massive hit to the downside, sending shock waves throughout the industry.

Jul 26 15:48

Forbes: Return to Drachma

Jul 26 12:40

5 Things To Ponder: Shades Of Risk

Jul 26 12:39

Education: time for a new purpose

Graham Peebles says inhibiting ideological patterns of thought must be dismantled in all areas of education if we are to discover the answers to our social, economic and environmental problems, and create harmony.

Jul 26 12:24

The Truth about the Conflict with Russia

The current conflict between the US and Russia is due to one simple reason: the Ashkenazim. They have a debt to settle with Russia.

Allow us to forward a bit of chronological tables as we delve into the nitty-gritty behind the conflict.

The Ashkenazim – descendants of the gentile Ashkenaz the Japhetite – are a resilient roaming Turkic people.......

Jul 26 11:57

The Death Of Diet Coke Approaches

Jul 26 11:53

Ukrainian News Service Says Standard of Living Is Plummeting

The plunging economy of Ukraine has evidently become so bad that Ukrainians now can even feel safe to call publicly for stopping the war against the separatist Donbass region of the country, and for reallocating those military expenditures so that Ukrainians in the non-rebelling part of the country won’t starve to death.

Jul 26 10:41

The Crashing Matrix and Last Ditch Trans-Everything Agenda

The outdated matrix programming by the engineers of deceit can’t keep up. The vibrational changes are exceeding their capabilities. The imitators of creation can’t maintain a current operating system any longer in the face of this massive Universal shift we’re undergoing.

And it’s driving them nuts.

Just look at the desperation we’re witnessing. Crude military and police state maneuvers are only one aspect, of course working in concert with dastardly economic manipulations and an outlandish propaganda barrage. The biggest clue is seeing the previously incremental and now hyperbolic use of technocratic programs from mass surveillance and data gathering to the advent of cyber warfare and artificial intelligence, while crazed maniacs at CERN try to crack into other dimensions.

The magnitude and desperation of their insane agenda has become completely transparent to just about anyone.

Jul 26 10:05

Credit card debt makes up for lack of income growth: Credit card debt outstanding back up to $900 billion. Since 1980 household income up 300% while credit card debt up 1,760%.

The middle class started disappearing in earnest in the late 1970s. Massive inflation started eating away at the standard of living for most Americans. Yet much of this was covered up by access to debt. Credit cards, creative mortgages, student loans, and auto debt all allowed Americans to continue acting as if prosperity was only an American Express card away. Credit card debt outstanding is now back up to $900 billion, a number last seen during the Great Recession before the great deleveraging. Americans have used debt as a means to cover up the reality that the middle class is disappearing. Credit cards are probably the clearest example of spending money you don’t have. Credit cards allow you to literally spend future earned money today. We always hear that many pay their balance off each month. Well the data shows something else. There is $900 billion in credit card debt floating out in the system.

Jul 26 10:05

Legend Who Oversees $175 Billion Warns Global Ponzi Scheme Now Showing Signs Of Coming Unraveled

On the heels of more weak economic data releases from the United States, a legendary chairman & CEO overseeing more than $175 billion, who is one of the most respected men in the financial world, issued a major warning to the financial world.

Webmaster's Commentary: 

Jul 26 09:59

IMF Receives Greek Request for New Loan

The International Monetary Fund stated on Friday that it had received a letter containing Greece’s request for a new loan. “We will discuss with the Greek authorities and with our European partners the timing and the modalities for the discussions,” the IMF noted in its official statement.

Jul 26 09:12

Most powerful bank in the world lays back mandate to save the world economy

Google Translate: The Bank for International Settlements (BIS) acknowledges in its annual report that the policy of cheap money has failed. All the trillions would have produced no growth in the real economy. Central banks can not save the economy. The governments of the world must now resolve the crisis.

Webmaster's Commentary: 

What arrogance. The private central bankers are now admitting that their eleventh marble system has screwed the world up, but demand government step in and fix everything. From the BIS point of view, that means looting the people to balance the books. From the peoples' point of view, that means shutting down all private central banks and tossing the bankers in prison for the monumental fraudsters that they have proven to be!

Jul 26 09:09

German university paves way for first Holocaust chair

Seventy years after World War II, Germany plans to establish its first professorship devoted to the study of the Holocaust. The yet-to-be-named professor will start work at Frankfurt's Goethe University in 2017.

Webmaster's Commentary: 

The Holocaust professor will share office space with the global warming chair, and the chairs of Alchemy and Phlogiston chemistry!

Jul 26 08:27

FLASHBACK - China Mocks G7 As "Gathering Of Debtors", Warns "Confrontation Will Be A Disaster For Europe"

But the G7 is an equal opportunity exclusionist which means it’s not just former superpowers that aren’t welcome, but rising superpowers as well, which means you won’t be seeing Xi Jinping at the table either.

But “Big Uncle Xi” (as he is affectionately known in China) likely isn’t losing any sleep because in the eyes of Beijing, the G7 — much like the IMF and the ADB — is a relic of a global economic and political order that is well on its way to obsolescence if it isn’t there already.

Jul 26 07:18

Nine Reasons Why Low Oil Prices May “Morph” Into Something Much Worse

It looks to me as though we are heading into a deflationary depression, because the prices of commodities are falling below the cost of extraction. We need rapidly rising wages and debt if commodity prices are to rise back to 2011 levels or higher. This isn’t happening. Instead, Janet Yellen is talking about raising interest rates later this year, and we are seeing commodity prices fall further and further. Let me explain some pieces of what is happening.

1. We have been forcing economic growth upward since 1981 through the use of falling interest rates. Interest rates are now so low that it is hard to force rates down further, in order to encourage further economic growth.

Jul 26 02:09

Greek Austerity and its Resemblance to African Debt Peonage

Only 10 days after the Greeks voted ‘No’ by a substantial majority against the Troika’s demands, Tsipras went further and put $55 billion of Greece’s national assets into a privatization ‘trust’ fund under EU supervision. This comes from Tsipras who had pledged to halt privatization in January’s election campaign. The deal is so harsh that even the IMF has criticized it.

It would be missing the point to say that Tsipras was hostile to the Troika. International finance institutions like it best when seemingly ‘radical’ figures do the dirty work for them rather than the professed neo-liberals. They would actually spin and portray the ‘reforms’ as ‘good for the people’. Even better so if the ‘radicals’ do not wear a tie.

Jul 26 01:59

The $1.5 Quadrillion Global Derivatives Time Bomb

When investing becomes gambling, bad endings follow. The next credit crunch could make 2008-09 look mild by comparison. Bank of International Settlements(BIS) data show around $700 trillion in global derivatives.

Along with credit default swaps and other exotic instruments, the total notional derivatives value is about $1.5 quadrillion – about 20% more than in 2008, beyond what anyone can conceive, let alone control if unexpected turmoil strikes.

Jul 25 20:26

Venezuela's Hyperinflation Crack-Up Boom On Its Way To Outer Space

Venezuela’s hyperinflation is reaching its final stages. It is probably already far too late for the government to stop the complete collapse of its currency. The bolivar is in the process of transforming from a medium of exchange to tinder for wood-stoves. Venezuelans who had the presence of mind to convert their savings into gold or foreign currency in good time are likely to survive the conflagration intact. Governments never seem to learn. They all believe they can somehow overrule economic laws by diktat. This is not only true of Venezuela’s government, but of practically every government in today’s world. Central planning of money has been adopted everywhere. Venezuela merely shows us what the end game for every fiat money system looks like.

Jul 25 19:53

BT Announces Price Hike for Landline and Broadband Services, Decision to Affect 10 Million Customers in the UK

The latest decision of price rise has come despite huge £6.27 billion profit announced by BT last year.

Jul 25 17:52

We Might Already Be in a Bear Market

Jul 25 16:40

Agenda 21 in China and the Technocratic Vision for Global Dictatorship

By Rusticus

Trilaterals Over Tianjin

Tianjin is no normal Chinese city. Billed as a joint partnership between China and Singapore, Tianjin is one of the United Nations’ flagship “Eco-Cities.” In fact, it’s no normal “Eco-City,” either; the UN has a particular affinity for Tianjin, going so far as to hold its annual Climate Change Convention there in 2010. It’s a textbook “green engineered” Smart City as called for in the 1992 Rio Conference on Sustainable Development, colloquially known as Agenda 21; and despite China erecting these “Smart Cities” en-masse in recent years, Tianjin remains one the country’s only successful "sustainable" ventures...

Jul 25 12:10

‘Fluffy’ Mundell flees the food bank

Shameless U.K. Government minister ‘Fluffy’ Mundell hightails it from an angry crowd protesting against the ‘hurt and misery’ of savage cuts that are pushing millions into poverty and hunger.

Jul 25 11:34

Thirteen Senators Who Could Make History

Thirteen U.S. Senators is all President Obama needs to ensure that the nuclear deal with Iran does not get derailed by Congress

Voters in their states still have time to communicate to Senate offices locally or in Washington.

Do the math:

There are currently 54 Republican senators, all of whom are expected to oppose the deal. The Republicans will need only 13 Democrats to cross party lines and vote against the deal to reach the 67 votes required for an override.

Jul 25 10:55

The World Economy in One Visualization

Jul 25 10:46

RASI Shows Bull Market Waning

Jul 25 10:33

Emerging Market Currencies Tumble to Record Low in ‘Violent’ Selloff

An index of the major developing-nation currencies fell to an all-time low this week, extending its drop over the past year to 19 percent, according to data compiled by Bloomberg going back to 1999. The Russian ruble, Colombia’s peso and the Brazilian real have fallen more than 30 percent over the past year for some of the worst global selloffs.

Jul 25 10:03

FLASHBACK 2013 - In Government, Nothing Succeeds Like Failure

The White House's decision to suspend enforcement of Obamacare's health insurance standards because of the website debacle was politically wise. (Its legality and implementation, however, remain uncertain.) But the main lesson we should draw from this incident is not that government can quickly change course in the face of failure. Rather, it teaches just the opposite: once Washington commits to a policy, it reverses direction only when waves of opposition engulf it.

Jul 25 10:01

ISRAEL EXPLOITS SYRIAN CHAOS TO PLAN LOOTING OF GOLAN OIL

The Afek oil and gas exploration company has almost completed its second drilling test in the Golan Heights, a part of Syria which Israel has occupied since 1967 and annexed in violation of international law.

The test is part of a three-year program to see if hydrocarbons in the area could lead to oil or gas for Israel.

Israel is fuel-poor and its domestic energy woes could be eased in the interim if the government progresses on deals in relation to the Tamar and Leviathan gas fields in the Mediterranean Sea.

In addition, Israel is now taking advantage of the chaos in Syria to look for precious resources to extract from the occupied Golan Heights.

Genie Oil and Gas has some high profile investors and advisors: Media baron Rupert Murdoch, former US Vice President Dick Cheney, American hedge fund manager Michael Steinhardt and British investment banker Jacob Rothschild are all members of the company’s “Strategic Advisory Board.”

Webmaster's Commentary: 

Brisk territorial annexation for financial (and settlement) gain, coupled with serial genocide: this is the Israeli way, and world leaders will not dare say a word of reproach to this wretchedly apartheid, self-proclaimed theocracy with nuclear weapons.

Jul 25 09:41

RUSSIA, CHINA DELAY “HOLY GRAIL” GAS PIPELINE SEQUEL AS CHINA’S ECONOMY SWOONS

Because Russia and China are set to settle gas (not to mention crude) sales in yuan, we argued that the consummation of the pipeline deals serves as further evidence of de-dollarization and the collapse of petrodollar mercantilism, the system that’s served to underwrite decades of dollar dominance.

And while data released since then shows that for the first time, Russia has surpassed Saudi Arabia as the largest supplier of oil to China (further supporting the idea that the petrodollar is rapidly losing ground to the “petroyuan”), it appears that China’s economic slowdown will delay the implementation of the Atlai deal – indefinitely. Here’s more from Vedomosti (Google translated):

Signing a contract with China for the supply of gas through the pipeline “Altai” (or “Power of Siberia – 2?) is delayed indefinitely, told “Vedomosti” two federal officials. The growth of the Chinese economy is slowing down, China is revising the energy balance, they explain.

Webmaster's Commentary: 

As long as China can obtain cheaper gas, which suits the needs of a slowing economy, the Altai will not be necessary at the moment; but in the future, definitely so.

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA