Black Monday: Great Fall of China

Alarm bells rang across world markets today as a 9 percent dive in Chinese shares and a sharp drop in the dollar and major commodities panicked investors fearing a Chinese “hard landing”. State media has called it China’s “Black Monday” Words such as ‘bloodbath’ have been used as stock markets in London, Paris and Frankfurt […]

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De-Dollarization Trouble – China/Russia Complete Currency Agreement

The last 3 months have seen Russia’s “de-dollarization” plans accelerate. First Gazprom clients shift to Euros and Renminbi, then the UK signs currency swap agreements with China, then NATO ally Turkey cuts ties and mulls de-dollarization, Switzerland jumps in the currency swap agreements, and BRICS create their own non-US-based funding vehicle, and then finally this […]

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Obama gives $148m in ‘Grants’ to Convicted Palestinian Terrorists

Unbelievable, the Obama administration gave the Palestinian Authority $148M from US taxpayers, they then dole out ‘grants’ to convicted terrorists. The Palestinian Authority is doling out millions of dollars in cash grants to convicted terrorists recently released from Israeli prisons in a program announced the same day as the P.A. accepted $148 million in the […]

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China Is Not Our Banker

China has fallen behind Japan as the largest foreign holder of U.S. securities. The Department of the Treasury’s new numbers are good only through June 30, 2012, but it puts Japan at $1.84 trillion and China at $1.59 trillion. There are lots of things to say about this, but one stands out: The loose talk […]

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