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No election to Ukrainian Rada in self-proclaimed Donetsk Republic...

Putin: Europe’s transition to American shale gas will be suicidal for EU economies...

Russia Ready to Cooperate With Kiev, Red Cross on Donbas Humanitarian Aid: UN Envoy...

Putin: system of global security seriously undermined...

Russia supports Syria in its fight against Islamism - deputy PM...

Islamic State Oil Revenue Averages $1 Mln per Day: US Officials...

EU provides 24,4 mln euros to develop vaccine against Ebola...

Turmoil in Hong Kong, Terrorism in Xinjiang: America’s Covert War on China...

Rosneft files lawsuit over EU sanctions to protect its shareholders - Sechin...

Russia recognizes Ukraine parliamentary election - Ivanov...

Hungary confronts Obama administration over travel bans...

Iran president optimistic over nuclear deal before deadline...

Russia's Financial Support to Ukraine Cannot Last Forever: Kremlin...

Russia to Resume Agriculture Imports From Ukraine if Receives Guarantees: Watchdog...

Pentagon admits weapons-drop fail as anti-ISIS operation hits $ 424 mn...

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Western Sponsors Liable for Kiev Basket Case

Since Washington and Brussels shunted the geopolitical tracks in the first place to create the financial train wreck that is now manifestly the Ukraine, you would think that there might be a sense of obligation on Western governments to salvage the mess. Not a bit of it, it seems. Furthermore, the train wreck is careening dangerously into the Russian economy. But still, the Western governments adopt an attitude that Moscow must pay for the damages... If Ukraine comes off the rails with an energy crisis this winter, the responsibility lies with the reckless regime-hijackers in Washington and Brussels...

Finian CUNNINGHAM | 23.10.2014


 

US Economy Safety Margin Tested as Oil Prices Go Down

...Speaking at the ASEM forum in Milan, Russian President Vladimir Putin noted that the world economy will not sustain oil prices at around 80 dollars per barrel... US shale oil producers will suffer most. According to experts’ estimates, the cost of production is around 80-90 dollars a barrel, 4-5 times more than the traditional oil. It means that the current price – 85 dollars a barrel as of October 17 – makes the companies operate in the red. Some producers will have to suspend operations facing mass bankruptcy in case the oil price falls lower than 80 dollars as shareholders start getting rid of zero profit bonds. The shale oil «soap bubble» will blow like the housing construction industry «bubble» blew in 2008. Of course, as time goes by oil prices will go up but it’ll be a different world with some US oil producers non-existent anymore...

Alexander DONETSKY | 20.10.2014


 

The Internationalisation of the Yuan (I)

The issue of turning the yuan into an international currency is the subject of much controversy. Some believe that Beijing should opt for full convertibility of the yuan, turning it into a fully-fledged international currency. Others believe that the yuan is already an international currency, citing impressive figures that reflect the growing use of the Chinese currency in international trade. Still others hold the view that turning the yuan into an international currency would be of no benefit to Beijing, and the Chinese authorities are even intentionally preventing it. The complexity of the problem lies in the fact that moving the yuan towards internationalisation involves three distinct phases: turning the Chinese currency into a) a trading currency, b) an investment currency, and c) a reserve currency...

Valentin KATASONOV | 19.10.2014


 

The Economist: Empty vaults. Will the next country to stiff bondholders be Ukraine or Venezuela?

A central bank that takes a visiting economist down to its vaults to prove that it does indeed have the reserves it claims must be very worried about market sentiment. And so Venezuela’s should be: the price of insuring the country’s bonds against default has risen by 80% over the past two months—suggesting they are the world’s riskiest (see chart). Bond yields over 16% also imply that markets are bracing for a crash. Last month Standard & Poor’s, a ratings agency, downgraded Venezuela, saying there was a one-in-two chance of default within two years.

EDITOR'S CHOICE | 14.10.2014


 

When Will the Building of the Debt Pyramid in Ukraine Come to an End?

According to expert evaluations, nearly $6 billion has entered Ukraine from various sources (the IMF, the World Bank, the EU, the US) between the time of the February revolution and the end of September. Nearly 95 per cent of this has been spent on debt refinancing. No more than 5 percent has been used for other purposes in some way related to solving the country’s more urgent problems, which is crumbs in comparison. The evil tongues of those who orchestrated the February revolution and found themselves on the sidelines of the revolutionary process are revealing a strange secret. They allege that this five per cent is kickbacks and fund siphoning by the new government. Which means that the total left for ‘national development’ is exactly 0 per cent...

Valentin KATASONOV | 11.10.2014


 

The IMF’s New Cold War Loan to Ukraine

In April 2014, fresh from riots in Maidan Square and the February 22 coup, and less than a month before the May 2 massacre in Odessa, the IMF approved a $17 billion loan program to Ukraine’s junta. Normal IMF practice is to lend only up to twice a country’s quote in one year. This was eight times as high.

EDITOR'S CHOICE | 09.09.2014


 

70 Years Dividing Bretton Woods Conference and Fortaleza Decisions

This July the world marks the 70 years anniversary of Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference... As 70 years since Bretton Woods have passed, a heavy blow was delivered against international financial institutions. The attack came from the resort city of Fortaleza in Brazil. Although the theme of the summit was “social inclusion”, at the top of the agenda is the creation of two new entities controlled entirely by the five BRICS members. The Bank is setup to foster greater financial and development cooperation among the five emerging markets. It would be headquartered in Shanghai, China and the first chief executive will come from India. The New Development Bank (NDB) will fund development projects independent of the US-controlled World Bank, and the Contingent Reserve Arrangement (CRA) will provide relief from the austere conditions and requirements of the IMF...

Valentin KATASONOV | 18.07.2014


 

Bretton Woods II and George Soros

...George Soros makes no secret of the fact that he does not like America. Not because it wages destructive wars around the world, or because of the country’s huge social polarisation, or because its prisons contin more than two million people, with a further four or five millions American who were sentenced to imprisonment currently at large because the country does not have enough prisons, or because the US organised an all-out surveillance of every telephone conversation in America. Soros does not like America because it still retains far too many attributes of a state. This is why Soros was one of Obama’s main sponsors during the pre-election presidential campaign. This also explains what initially seem to be certain illogical decisions and acts of the White House’s current occupant that are troubling the real patriots of America...

Valentin KATASONOV | 22.06.2014


 

Ron Paul on Ukraine: "Why Are We Are Making Things Worse?"

It looks like the civil war in Ukraine is getting much worse. Western Ukraine right now is being urged on by its Western supporters, meaning its NATO supporters, the European Union, the United States, and the International Monetary Fund (IMF). Western Ukraine has moved to take back control of the cities in Eastern Ukraine that have been taken over by supporters of Russia.

EDITOR'S CHOICE | 05.05.2014


 

The International Monetary Fund Might Not Live to See Its Anniversary

The latest meeting of the ministers of finance and central bank governors of the G20 countries took place April 10-11, 2014 in Washington. A key issue was the reform of the International Monetary Fund (IMF)... Through their inaction on the issue of reforming the IMF, the United States first and foremost is discrediting itself. And second, the Fund. Third, the G20. The Fund's reputation is plummeting especially fast considering that in recent years China has been giving "third world" countries loans similar in size to those offered by the IMF and the IBRD. But Beijing, unlike the IMF, does not set political conditions in the spirit of the Washington Consensus...

Valentin KATASONOV | 19.04.2014




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OUR COLUMNIST
    Finian CUNNINGHAM

Kiev Elections Can’t Sanitise State of Mob Rule

The Kiev regime’s parliamentary elections this weekend are set to go ahead amid an atmosphere of rampant political street violence and intimidation – and that’s not in the war-torn eastern part of Ukraine. The parliamentary elections were called in June by the then elected President Petro Poroshenko as a way of legitimising the illegal coup against the Ukrainian government that occurred four months previously with the support of the American Central Intelligence Agency... In the paraphrased words of Abraham Lincoln, no electoral process can sanitise the glaring fact of Kiev’s rule of the mob, by the mob, for the mob.

25.10.2014
 
 
 
 
 
 
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