No-bull Excerpts: 2012.01.28
MARCHING TO A DIFFERENT DRUMMER?
In our previous issue (number 694), The Privateer analysed an agreement between Japan and China to start the DIRECT trading of their currencies WITHOUT using the US Dollar as the common intermediary. There has been a similar agreement in place between China and Russia for well over a year. In the wake of the US-inspired embargo on the Iranian financial system and Iranian oil, India has approached Iran with the view to buy oil without the use of US Dollars. Indian newspapers report that India has suggested the use of Gold instead. All over Asia, more and more nations are moving towards bilateral and multilateral trade done without the participation of either US Dollars or Euros.
Every nation or group of nations anywhere in the world which decide to cease using the US Dollar as the common denominator in trade is casting a financial vote of non- confidence in the global financial system as it is presently constituted. After much more than half a century of continuous annual US trade deficits (alongside the budget deficits), the only surprise here is that this move has taken so long. It is the process which The Privateer has (in past issues) analysed and described as "US Dollar displacement". If the agreements which have been popping up all over Asia are consummated, the days of the US Dollar as the world's reserve currency are coming to an end. When (not if) that happens, the US government will find itself in exactly the same position as peripheral Europe has been for the past two years. It will be staring with horror at interest rates which are exploding upward on debt which is exploding even faster.
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Reuters / 2012.01.28 http://www.reuters.com/article/2012/01/27/uk-iran-idUSL5E8CR...
Iran hits back at EU with own oil embargo threat
Fighting sanctions with sanctions in a trial of strength with the West over its nuclear ambitions, Iran warned on Friday it may halt oil exports to Europe next week in a move calculated to hurt ailing European economies.
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George Ure / 2012.01.27 THE BALTIC DRY INDEX IS COLLAPSING!!!
Financial News / 2012.01.25 http://www.efinancialnews.com/story/2012-01-25/chart-of-day-...
Nick Bullman, managing partner at risk consultant Check Risks, said the index is a good way of looking at the risks to the global economy, “as it tends to be where they hit first”.
According to Bullman, its initial collapse in October was driven primarily by a fall-off in demand from China, where declining housing prices pushed purchasing managers to cut back on orders for the raw materials whose transport the Baltic Dry Index reflects.
He said: “This collapse looks similar to the falls we saw in the Baltic Dry ahead of the recessions of the late 1970s and early 1990s – but this drop is actually steeper.”
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Jessie / 2012.01.26> http://jessescrossroadscafe.blogspot.com/2012/01/year-to-dat...
"As goes January, so goes the year"
If that is the case it may be a record year for precious metals but hard on traders' nerves.
It should be noted that the metals sector took an extraordinarily heavy handed pounding in December. Let's see how the month ends.
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Jim Sinclair’s Commentary / 2012.01.26 http://www.jsmineset.com/2012/01/26/in-the-news-today-1031/
As usual, John Williams of ShadowStats.com tells us how it really is.
- U.S. Hyperinflationary Great Depression Moves Ever Closer
- U.S. Government and the Federal Reserve Effectively Have Destroyed Global Confidence in the U.S. Dollar
- Systemic-Solvency and Economic Crises Have Not Abated
- Precursors to Ultimate Dollar Disaster Are in Place;
2014 Remains the Outside Timing for Same
No. 414: Hyperinflation Special Report 2012
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Jim Willie / 2012.01.20 http://www.gold-eagle.com/editorials_12/willie012612.html
CONTROLLED U.S. PRESIDENTIAL ELECTION
The clues are clear but only to the alert observers. In year 2000, for the first time a gross inconsistency showed itself as an anomaly. The exit polls in Florida and Ohio did not match the election results at the local level. For a full generation, the correlation had been over 90%, as it should be, since people exiting a voting center reveal their votes with consistency. This is the left hand and the right hand coinciding genetically with the same human standing before the clipboard recording the exit poll. The lapdog subservient US press reported the anomaly as people changing their minds, or not admitting to the clipboard their actual voting preference. Numerous statistical studies showed the anomalies in colored form, to expose Florida and Ohio for its voting system fraud. Yet another blatant fraud has infected the American landscape. This is a far cry from legions of dead people rallying to vote for Kennedy in Chicago during the 1960 election, with the forces marshalled by Mayor Daley. History has repeated, as 1000 dead people voted in the South Carolina primary in one city alone. My guess is the dead people voted for Gingrich. The season started in Iowa, where Ron Paul had a nice steady lead for the few weeks leading into the caucus. Then suddenly Santorum came out of nowhere to share the win with Romney. Paul finished a lowly third. The Santorum crowds were small except for his victory speech. Could it be that the outsourced vote count took 10% to 12% of the Paul vote and put it in the Santorum bin? Then in New Hampshire, where vote fraud is much more difficult due to hand counted ballots, a reality check came. Santorum finished way down the line. Move on to South Carolina, where again Ron Paul shared the lead position in the polls. But on the primary day, again Paul finished again a lowly third. We are told Gingrich won, and justified by having his home state so nearby. Yet Gingrich had to cancel a couple campaign stops due to lack of attendance. Ooops! Could it be that the outsourced vote count took 10% to 12% of the Paul vote and put it in the Gingrich bin?
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