Currency

IMF Allows Addition Of China’s Yuan Currency To SDR Basket Amid Paris Terror Attacks

ZERO HEDGE While the world was following the tragic events unfolding on Friday night in France where hundreds of innocent civilians were killed or injured, an important economic development took place at the IMF, whose staff and head Christine Lagarde, officially greenlighted the acceptance of China's currency - the Renminbi,…
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Economic Collapse

The World’s Best Known Global Shipping Index has Crashed To Its Lowest Level Ever

Zero Hedge Having fallen for 47 of the last 51 days, The Baltic Dry Index (tracking the cost of shipping dry bulk from iron ore to grains) has been collapsing in a well-documented manner by Zero Hedge (though not the mainstream media). With Cramer having told investors of its importance…
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Austerity

Tsipras Rejects EU Ultimatum, Demands Bridge Deal: “Greeks Can’t Take More Disappointment”

Zerohedge Speaking defiant tone on Sunday evening, Greece's new Prime Minister Alexis Tsipras showed no signs of backing away from the commitments and pledges he and his party made to the Greek people (and that so many staunch status-quo huggers believe he will back down from). Raging that Greece "won't…
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Austerity

Eurogroup Gives Greece 10 Day Ultimatum: Apply For Bailout Or Grexit

Zero Hedge Update: And now this: "Moody's places Greece's Caa1 government bond rating on review for downgrade" The key driver for the review for downgrade is the high level of uncertainty over the outcome of the negotiations between Greece and its official creditors over the terms of Greece's support programmer.…
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Central Banks

ECB Pulls The Trigger: Blocks Funding To Greece Via Debt Collateral – Full Statement

Zero Hedge Just what the market had hoped would not *ECB SAYS IT LIFTS WAIVER ON GREEK GOVERNMENT DEBT AS COLLATERAL *ECB SAYS IT CAN'T ASSUME SUCCESSFUL CONCLUSION OF GREECE REVIEW What this means simply is that since Greek banks are now unable to pledge Greek bonds as collateral and…
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Central Banks

Currency war: Swiss fight back, remove cap on Euro, forcing Wall Street losses, forex firms fail

| WTF News | 2015 will be marked by moments of self preservation, especially in financial markets. Thursday, the Swiss National Bank shocked the global financial world by announcing it removed the September 2011 cap placed on the currency's value against the Euro, in a move to protect the Franc…
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Currency

Russia Shocks With Emergency Rate Hike, Boosts Interest Rate From 10.5% To 17%

Zero Hedge Following the biggest rout to the Ruble in ages, Russia - unlike Mario Draghi - instead of talking the talk decided to walk the bazooka walk and shocked all those long the USDRUB by unleashing an emergency rate hike (at 1 am in the morning) from the recently…
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Commodities

We Just Witnessed The Worst Week For Global Financial Markets In 3 Years

Theeconomiccollapseblog Is this the start of the next major financial crisis?  The nightmarish collapse of the price of oil is creating panic in financial markets all over the ; On June 16th, oil was trading at a price of $; Since then, it has fallen by almost 50 dollars in…
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The Federal Reserve Is At The Heart Of The Debt Enslavement System That Dominates Our Lives

The Economic Collapse by Michael Snyder From the dawn of history, elites have always attempted to enslave ; Yes, there have certainly been times when those in power have slaughtered vast numbers of people, but normally those in power find it much more beneficial to profit from the labor of…
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Global Economy

Gold Repatriation Stunner: Dutch Central Bank Secretly Withdrew 122 Tons Of Gold From The New York Fed

Zero Hedge A week ago, we penned "The Real Reason Why Germany Halted Its Gold Repatriation From The NY Fed", in which we got, for the first time ever, an admission by an official source, namely the bank that knows everything that takes place in Germany - Deutsche Bank -…
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Are You Better Off This Thanksgiving Than You Were Last Thanksgiving?

The Economic Collapse by Michael Snyder Are you in better shape financially than you were last Thanksgiving?  If so, you should consider yourself to be very fortunate because most Americans are ; As you chow down on turkey, stuffing and cranberry sauce this Thursday, please remember that there are millions…
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21 Facts That Prove That Dependence On The Government Is Out Of Control In America

The American Dream by Michael Snyder If you could stay home and watch television, play video games and hang out with your friends all day at government expense, would you do it?  Of course most Americans that collect money from the government each month are not abusing the ; Many…
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3 Of The 10 Largest Economies In The World Have Already Fallen Into Recession – Is The U.S. Next?

The Economic Collapse by Michael Snyder Are you waiting for the next major wave of the global economic collapse to strike?  Well, you might want to start paying attention ; Three of the ten largest economies on the planet have already fallen into recession, and there are very serious warning…
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Study: More Homeless Children Now Than Any Point in US History

Common Dreams by Jon Queally A new report on child homelessness in America finds that million children experience homelessness annually. The annual levels of homelessness among children have never been higher in the United States, according to a new comprehensive report released on Monday. Prepared by the National Center on…
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Global Capitalism in Crisis: Empty Commitment by G20 to Boost Global Economic Growth

Global Research By Nick Beams The communiqué issued at the end of the G20 summit held in Brisbane, Australia, over the weekend stated that agreement had been reached among the participants, whose countries comprise 85 percent of the world economy, to boost global growth by an additional percent over the…
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Oil-Producing Countries’ Currencies Are Getting Crushed

Zero Hedge While most people's attention has been focused on the demise of the Russian Ruble this year, since the June highs in Crude Oil, the oil-producing nations of the world have seen their currencies devalue rapidly. From Brazil to Nigeria and Algeria, the impact of lower oil revenues is…
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ISIS Unveils Its New Gold-Backed Currency To Remove Itself From “The Oppressors’ Money System”

Zero Hedge It appears the rumors are true. Islamic State is set to become the only 'state' to back its currency with gold (silver and copper) as it unveils the new coins that will be used in an attempt to solidify its makeshift caliphate. ISIS says the new currency will…
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24 Reasons Why Millennials Are Screaming Mad About Our Unfair Economy

The Economic Collapse by Michael Snyder Do you want to know why Millennials seem so angry?  We promised them that if they worked hard, stayed out of trouble and got good grades that they would be able to achieve the "American Dream".  We told them not to worry about accumulating…
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Currency

Petrodollar Panic? China Signs Currency Swap Deal With Qatar & Canada

Zero Hedge The march of global de-dollarization ;In the last few days, China has signed direct currency agreements with Canada becoming North America’s first offshore RMB hub, which CBC reports analysts suggest “could double maybe even triple the level of Canadian trade between Canada and China,” impacting the need for Dollars. But that…
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“The Renminbi Hub”: Chinese Banks Acquire Stakes in US and Canadian Banks. Is There a Hidden Agenda?

Global Research By Bill Holter Very big news on the banking front, the Federal Reserve is now apparently allowing Chinese banks to take stakes in ; North of our border, Canada is contemplating becoming one of the many, recent, “renminbi hubs”.  Why would this be happening?  Why would it be happening now? First,…
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The Economy Of The Largest Superpower On The Planet Is Collapsing Right Now

The Economic Collapse by Michael Snyder How do you fix a superpower with exploding levels of debt, that has a rapidly aging population, that consumes far more wealth than it produces, and that has scores of zombie banks that could collapse at any ; You might think that I am…
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Japan’s Monetary Pearl Harbor

Washington's Blog by Charles Hugh Smith Trying to “fix” a sclerotic, inefficient state-cartel economy by boosting inflation–the ultimate goal of Japan’s Monetary Pearl Harbor– is a self-liquidating path to destruction. The Bank of Japan’s surprise expansion of financial stimulus strikes me as the monetary equivalent of Pearl Harbor –not in the…
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How The Petrodollar Quietly Died, And Nobody Noticed

Zero Hedge Two years ago, in hushed tones at first, then ever louder, the financial world began discussing that which shall never be discussed in polite company - the end of the system that according to many has framed and facilitated the US Dollar's reserve currency status: the Petrodollar, or…
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U.K. Sells Bonds in China’s Currency, Adding Pressure on Dollar

The New American by Alex Newman Amid fast-growing pressure on the dollar’s status as the global reserve currency, authorities in the United Kingdom this week successfully issued sovereign bonds denominated in Communist China’s strictly controlled currency known as the yuan or renminbi. It was the first such bond issue in…
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Most People Cannot Even Imagine That An Economic Collapse Is Coming

The Economic Collapse by Michael Snyder The idea that the United States is on the brink of a horrifying economic crash is absolutely inconceivable to most ; After all, the economy has been relatively stable for quite a few years and the stock market continues to surge to new ;…
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Global Economy

“Taxation Must Go Global,” Says German Finance Minister

The New American In one of the bluntest statements on the topic by any globalist thus far, controversial German Finance Minister Wolfgang Schäuble (shown) openly called for “global standards” and “global governance” in taxation to ensure that governments can continue extracting huge sums in taxes from the wealth-producing class in…
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The Dollar Decline Continues: China Starts Direct Convertibility With Asia’s #1 Financial Hub

Sovereign Man by Simon Black Earlier this week some of the biggest financial news of the year made huge waves all over Asia. Yet in the Western press, this hugely important information has barely even been mentioned. While this is ignored in the US so far, it’s front page news…
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From This Day Forward, We Will Watch How The Stock Market Performs Without The Fed’s Monetary Heroin

The Economic Collapse by Michael Snyder Mark this day on your ; The Dow is at 16974, the S&P 500 is at 1982 and the NASDAQ is at ; From this day forward, we will be looking to see how the stock market performs without the monetary heroin that the…
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Currency

The Dollar Decline Continues: China Starts Direct Convertibility With Asia’s #1 Financial Hub

Sovereign Man blog By Simon Black, Earlier this week some of the biggest financial news of the year made huge waves all over Asia. Yet in the Western press, this hugely important information has barely even been mentioned. While this is ignored in the US so far, it’s front page…
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Guess How Much Americans Plan To Spend On Christmas And Halloween This Year…

The Economic Collapse by Michael Snyder It is that magical time of the year for ; The period between mid-October and late December can often make the difference between success or failure in the retail industry, and this year will be no ; As you will see below, it is…
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Can’t Find Any Inflation? Here’s A Place To Start

Zero Hedge Lately, there has been much anguished consternation, especially among the tenured US economics professors (primarily those who make 6-digits or more per year) and of course, the Federal Reserve where as we revealed last week, at least 113 government workers make $250,000 (excluding bonuses) and thus all are…
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Gold or Gunfire: Hedging Against the Collapse of the Dollar

New Eastern Outlook by Christof Lehmann A global economic collapse has become unavoidable, said former chief economist of the Bank of International Settlements (BIS) William White in response to the BIS’ quarterly report in September 2013. Experts forecast that a global economic collapse may occur, overnight, some time at the…
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50% Of American Workers Make Less Than $28,031 A Year

The Economic Collapse by Michael Snyder The Social Security Administration has just released wage statistics for 2013, and the numbers are ; Last year, 50 percent of all American workers made less than $28,031, and 39 percent of all American workers made less than $20,; If you worked a full-time…
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Economic Collapse

Low Inflation? The Price Of Ground Beef Has Risen 17 Percent Over The Past Year

The Economic Collapse by Michael Snyder Thanks to the Federal Reserve, the middle class is slowly being suffocated by rising food ; Every single dollar in your wallet is constantly becoming less valuable because of the inflation the Fed systematically ; And if you try to build wealth by saving…
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Census Report: Half of Americans Poor or Near Poor

Global Research By Andre Damon Forty-seven percent of Americans have incomes under twice the official poverty rate, making half of the country either poor or near-poor, according to figures released last week by the Census Bureau. These figures are based on the Census Bureau’s Supplemental Poverty Measure (SPM), which takes…
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US Economy Safety Margin Tested as Oil Prices Go Down

Strategic Culture by Alexander DONETSKY Oil prices fluctuations is a routine matter for world economy. After the abrupt fall in 2009 sparked by global financial crisis, the «black gold» spiked to over 100 dollars a barrel to stay stable in February 2011 to September ; The current 20% price fall…
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Currency

New York Times Admits Wages Haven’t Grown in 15 Years, Worst Since Great Depression

Liberty Blitzkrieg By Michael Krieger, The following article from the New York Times is actually pretty awful. However, the admission that wages have failed to grow in 15 years is important. Particularly in light of the fact that we are five years into the second so-called “recovery” since the turn of the…
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Debt Slavery

“Clueless”, Reaccomodating Fed Spurs Epidemic Of Record Low Yields Around The Globe

Zero Hedge “If it wasn’t obvious that Fed normalization was going to be difficult, it should be now. Risk assets don’t appear to be ready for significant removal of accommodation". So much for "the recovery" (in the US or elsewhere) and a mythical world in which a seamless handover from…
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