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Yanis Varoufakis: “Greece Will Adopt the Bitcoin If Eurogroup Doesn’t Give Us a Deal”

April 1st, 2015
Categories: Economic

Link: http://www.blacklistednews.com/Yanis_Varoufakis%3A_%E2%80%9CGreece_Will_Adopt_the_Bitcoin_If_Eurogroup_Doesn%E2%80%99t_Give_Us_a_Deal%E2%80%9D/43102/0/38/38/Y/M.html

Greek Finance Minister Yanis Varoufakis: cryptocurrency will be implemented with computerized card with a chip, distributed free to Greek citizens, available for purchase at country’s entry points for 45 euros to tourists; revenue for Greece. Move to beat corruption, tax evasion, all transactions will be recorded to Greek Ministry of Finance, able to track transanctions at any given moment.”

Loan firms sell financial secrets to cold-call conmen... Vulnerable people desperate for cash bombarded by calls 60 times a DAY

April 1st, 2015
Categories: Economic

Link: http://www.dailymail.co.uk/news/article-3020453/Loan-firms-sell-financial-secrets-cold-call-conmen-Vulnerable-people-desperate-cash-bombarded-calls-60-times-DAY.html

Highly sensitive financial details from loan applications are being sold to scammers and cold-calling firms, the Mail can reveal. Details of how much money applicants asked for, why the cash was needed and why the application was rejected are all being stored on lists and traded.

Greece Hints At Default, Russian Pivot:"Will Not Respect IMF Deadline" - What Happens Next

April 1st, 2015
Categories: Economic

Link: http://www.zerohedge.com/news/2015-04-01/greece-hints-default-russian-pivotwill-not-respect-imf-deadline-what-happens-next

Greek Interior Minister Nikos Voutzis: "If no money is flowing to 9 April, we will first determine the salaries, pensions pay here in Greece and then ask our partners abroad to achieve consensus and understanding that we will pay 450 million euros to the IMF not on time." Russia and China are "complementary to an agreement with the European partners" new Greek "Plan A, "We want Russia helping us rebuild the Greek economy, with trade agreements, purchase of government bonds.

BRICS leadership passes to Russia, $100bn development bank ‘main priority’

April 1st, 2015
Categories: Economic

Link: http://rt.com/business/245905-brics-russia-bank-economy/

As Russia assumes the chairmanship of the BRICS business council, the launch of the New Development Bank for its members will begin as an alternative to the US-dominated International Monetary Fund (IMF), an economic association made up of Brazil, Russia, India, China and South Africa.

Denmark Applies to Join China-Backed AIIB Investment Bank - Video

March 31st, 2015
Categories: Economic

Link: http://investmentwatchblog.com/denmark-applies-to-join-china-backed-aiib-investment-bank/

China’s finance ministry: government of Denmark announcing its intention to join the AIIB as a founding member. Earlier, Russia announced its decision to join the AIIB a day after Brazil accepted an invitation from China. The Netherlands and Australia also announced their intent to become members.

Federal Report: The College Debt Bubble Is Collapsing Now: 33% Of All Student Loans Are Delinquent On Repayments

March 31st, 2015
Categories: Economic

Link: http://www.shtfplan.com/headline-news/federal-report-the-college-debt-bubble-is-collapsing-now-33-of-all-student-loans-are-delinquent-on-repayments_03312015

There are currently 41 million Americans who collectively have about $1.1 Trillion in loans outstanding. That means about 13.5 million Americans are currently delinquent on roughly $350 billion in student loan debt.

EU, demanding deeper cuts, rejects Syriza’s austerity list

March 31st, 2015
Categories: Economic

Link: http://www.wsws.org/en/articles/2015/03/31/gree-m31.html

Greek Prime Minister Alexis Tsipras addressed parliament last night, making clear his readiness to implement austerity measures dictated by the country’s international creditors, Debt Syriza inherited from the New Democracy/PASOK government larger than had been presented. It was now time to face the truth, ready to make an “honest compromise” with creditors.

Ukraine’s imports of Russian gas up almost 50%

March 31st, 2015
Categories: Economic

Link: http://tass.ru/en/economy/786214

Ukraine is expected to import around 300 million cubic meters of Russian gas and transfer $105 million for it. Last week Gazprom said the latest tranche worth $15 million would be sufficient for gas supplies till the end of the month or April 1.

Pentagon’s ‘Force of the Future’ drive could ease job recruitment standards

March 30th, 2015
Categories: Economic

Link: http://rt.com/usa/245409-pentagon-easing-recruitment-standards/

The Pentagon is considering how to attract and retain the best and the brightest people in areas like cyber-technology, even if that means easing recruitment standards and hiring older people or offering incentives like student loan repayment.

China’s Potential Deflation Threatens to Overthrow Global Monetary Order

March 30th, 2015
Categories: Economic

Mainland China could soon implement a full-scale economic stimulus due to the threats of deflation and stagnation, adding to the piles of cash being printed by Japanese and European mints, rendering monetary equivalent less valuable and investment less powerful across the globe.

George Soros ready to invest $1bn in Ukraine

March 30th, 2015
Categories: Economic

Link: http://rt.com/business/245193-george-sorros-ukraine-billion/

US hedge fund billionaire George Soros said he will invest $1 billion in Ukraine provided the West improves investment conditions, and warned there is no such thing as a ‘benevolent investor’. This must generate a profit.

Hong Kong to continue talks with Russia on signing investment protection agreement

March 27th, 2015
Categories: Economic

Link: http://tass.ru/en/economy/785496

Hong Kong is taking steps to intensify relations with its Asian neighbors has already signed Investment promotion and protection agreement (IPPA) with Myanmar and Bahrein and later this year will continue similar consultations with UAE and Russia.

South Korea says to seek membership in China-backed AIIB

March 26th, 2015
Categories: Economic

Link: http://www.blacklistednews.com/South_Korea_says_to_seek_membership_in_China-backed_AIIB/42959/0/38/38/Y/M.html

South Korea said on Thursday it has decided to seek to be a founding member of the Asian Infrastructure Investment Bank (AIIB), another key U.S. ally joining the China-led institution despite Washington's misgivings.

China meets London: UK starts first yuan money-market fund

March 25th, 2015
Categories: Economic

Link: http://wakeupfromyourslumber.com/china-meets-london-uk-starts-first-yuan-money-market-fund/

The UK has become the first country in Europe to open a yuan-denominated money market fund, cutting out the middle man for investing in China. The exchange-traded fund is listed on the London Stock Exchange, with trading available in pounds, euro, and yuan,

Australia Mulls Joining Chinese Investment Bank

March 25th, 2015
Categories: Economic

Link: http://sputniknews.com/asia/20150325/1019975396.html

Australia appears poised to join the Asian Infrastructure Investment Bank after months of signaling its reluctance to become a member. Prime Minister Tony Abbott said last week that joining the AIIB was something the country would support, as long as there would be assurances of transparency and good governance.

Tsipras in Berlin: Germany and Greece pledge “cooperation” in imposing austerity

March 24th, 2015
Categories: Economic

Tsipras stressed that just like his social democratic and conservative predecessors, he was ready to continue the austerity measures in close cooperation with the EU and the German government. “We need to better understand ourselves,” said Tsipras. “There is no other way to overcome the existing difficulties than dialogue.” His government would adhere to all existing contracts and make the necessary structural reforms.

The Perfect Storm For Oil Hits In Two Months: US Crude Production To Soar Just As Storage Runs Out

March 22nd, 2015
Categories: Economic

Link: http://www.zerohedge.com/news/2015-03-21/perfect-storm-oil-hits-two-months-us-crude-production-soar-just-storage-runs-out

Based on current oil production trend, the US may run out of storage for crude as soon as June. "North Dakota likely to see a “big surge” in production this June. At current rate of record oil production, storage will be exhausted in under two months, some time in mid-May.

Lagarde says IMF to co-operate with China-led AIIB bank

March 22nd, 2015
Categories: Economic

Link: http://www.bbc.com/news/business-32007090

International Monetary Fund chief Christine Lagarde has said the IMF would be "delighted" to co-operate with the China-led Asian Infrastructure Investment Bank (AIIB). The AIIB has more than 30 members and is envisaged as a development bank similar to the World Bank.

Washington Blinks: Will Seek Partnership With China-Led Development Bank

March 22nd, 2015
Categories: Economic

Link: http://www.zerohedge.com/news/2015-03-22/washington-blinks-will-seek-partnership-china-led-development-bank

The Obama administration, facing defiance by allies that have signed up to support a new Chinese-led infrastructure fund, is proposing the bank work in a partnership with Washington-backed development institutions such as the World Bank.

Rouble has reached equilibrium, says finance minister

March 21st, 2015
Categories: Economic

The rouble remains practically uneffaced any longer by oil prices, whose slump triggered a sharp depreciation of the Russian currency at the end of 2014; Finance Minister Anton Siluanov.

In Italy, They're Now Taxing Shadows

March 20th, 2015
Categories: Economic

Link: http://www.zerohedge.com/news/2015-03-20/italy-theyre-now-taxing-shadows

If a store or a bar has an awning outside the shadowing on public property, must pay a fee that is part of the public land use, tax on employment of public land.

Syriza promises new austerity list as European institutions intensify pressure on Greece

March 20th, 2015
Categories: Economic

Link: http://www.wsws.org/en/articles/2015/03/20/gree-m20.html

Greek Prime Minister Alexis Tsipras promised to submit a new list of austerity measures following a summit of European leaders in Brussels. A statement issued by the European powers and Greece “Greek authorities will have ownership of the reforms and will present a full list of specific reforms in the next days.” The reforms are part of the agreement Greece reached with the Eurogroup last month.

10 Charts Which Show We Are Much Worse Off Than Just Before The Last Economic Crisis

March 19th, 2015
Categories: News, Economic

Link: http://marketdailynews.com/2015/03/19/10-charts-which-show-we-are-much-worse-off-than-just-before-the-last-economic-crisis/

If you believe that ignorance is bliss, you might not want to read this article. I am going to dispel the notion that there has been any sort of “economic recovery”, and I am going to show that we are much worse off than we were just prior to the last economic crisis.

De-Dollarization Accelerates As More Of Washington's "Allies" Defect To China-Led Bank

March 19th, 2015
Categories: Economic

Link: http://www.zerohedge.com/news/2015-03-19/de-dollarization-accelerates-more-washingtons-allies-defect-china-led-bank

China’s finance ministry: China welcomes Luxembourg’s application to be a founding member of the Asian Infrastructure Investment Bank. South Korea leaning towards joining up. Foreign ministers of China, Japan and South Korea will meet in Seoul this weekend. Every shred of objective evidence suggests the dollar’s dominance is coming to an end.

US Warns Allies Not to Join China-led Development Bank

March 18th, 2015
Categories: Economic

Link: http://www.thedailysheeple.com/us-warns-allies-not-to-join-china-led-development-bank_032015

The United States has urged countries to think twice before signing up to a new China-led Asian development bank that Washington sees as a rival to the World Bank, after Germany, France and Italy followed Britain in saying they would join.

MORE: Nearly 30 countries have confirmed joining China-led infrastructure bank

March 17th, 2015
Categories: Economic

Link: http://investmentwatchblog.com/more-nearly-30-countries-have-confirmed-joining-china-led-infrastructure-bank/

The finance ministries of France and Germany have confirmed they’ll join China’s new Asian Infrastructure. Britain last week became the first Western country to agree to become a founding member of the AIIB. The new bank is expected to challenge the Western dominance of the US-led World Bank and IMF in global infrastructure projects.

"Colossal Defeat" For Obama As Australia Joins China's Regional Bank

March 16th, 2015
Categories: Economic

Link: http://www.zerohedge.com/news/2015-03-16/colossal-defeat-obama-australia-joins-chinas-regional-bank

Australia's Abbott government to sign on for negotiations to join China’s regional bank, "represents a colossal defeat for the Obama administration.

Japan projects to spend 43% of tax revenue just to pay interest on the debt

March 12th, 2015
Categories: Economic

Link: http://www.silverdoctors.com/japan-projects-to-spend-43-of-tax-revenue-just-to-pay-interest-on-the-debt/

At one quadrillion yen, the Japanese debt level is so high that it now takes the government 43% of its central tax revenue just to pay interest this year. The percentage of tax revenue to service the debt has been rising for years and is absurdly unsustainable. Large Japanese businesses continue to hold Japanese government bonds as part of their obligation to make sure that government doesn’t look bad.

The West's Plan To Drop Russia From SWIFT Hilariously Backfires

March 12th, 2015
Categories: Economic

Link: http://www.zerohedge.com/news/2015-03-12/wests-plan-drop-russia-swift-hilariously-backfires

US government wants to kick Russia out of SWIFT; Society of Worldwide Interbank Financial Telecommunications, announced that they were giving a BOARD SEAT to Russia. being part of SWIFT critical to conducting business with the world. China putting together their own version to be a direct competitor to SWIFT, new way for global banks to communicate and transact with one another in way that does NOT depend on the United States.

China-IMF talks underway to endorse yuan as global reserve currency

March 12th, 2015
Categories: Economic

Link: http://www.blacklistednews.com/China-IMF_talks_underway_to_endorse_yuan_as_global_reserve_currency%09/42560/0/38/38/Y/M.html

Including the yuan in the SDR system would allow the IMF to recognize the ascent of the world’s second-biggest economy while aiding China’s attempts to diminish the dollar’s dominance in global trade and finance.

Euro spirals toward 1:1 parity with USD

March 11th, 2015
Categories: Economic

Link: http://rt.com/business/239637-euro/

The euro and the dollar are nearly trading one for one, as the EU single currency continues to fall to new depths after the announcement of the ECB’s quantitative easing,more than 30 percent fall in value. the €1.1 trillion bond-buying program launched Monday. Euro 30 percent fall in value.

Next Mega-Bailout On Deck: White House Studying "New Bankruptcy Options" For Student-Loan Borrowers

March 10th, 2015
Categories: Economic

Link: http://www.zerohedge.com/news/2015-03-10/next-mega-bailout-deck-white-house-studying-new-bankruptcy-options-student-loan-borr

Next bailout is about to be unveiled, and it will involve a "streamlined" bankruptcy law allowing students to discharge their student debt. More than 70 percent of U.S. students who graduate with a bachelor's degree leave with debt, which averages $28,400.

Greece told deeper austerity needed to secure additional loans

March 10th, 2015
Categories: Economic

Link: http://www.wsws.org/en/articles/2015/03/10/gree-m10.html

Euro zone finance ministers met Monday to discuss a set of proposals from the Syriza-led Greek government based on the austerity programme both sides signed on February 20. Greece was required to submit a list of austerity measures deemed acceptable to its creditors as a precondition for receiving a pending loan of €7.2 billion and any further loans.

Iran, China to raise trade to $60b in one year

March 10th, 2015
Categories: Economic

Link: http://www.presstv.com/Detail/2015/03/10/401174/Iran-China-eye-60b-trade

Iran and China hope to bring the level of their trade exchanges to $60 billion from the current $52 billion in a year; head of Iran-China Joint Chamber of Commerce China has opened $4 billion in credit line over the past three months for financing projects in Iran.

Putin Signs Law On Ratification of $100 Billion BRICS New Development Bank Deal

March 9th, 2015
Categories: Economic

Link: http://investmentwatchblog.com/putin-signs-law-on-ratification-of-100-billion-brics-new-development-bank-deal-2/

The BRICS New Development Bank (NDB) was set up to challenge two major Western-led giants, the World Bank and the International Monetary Fund. NDB’s key role will be to serve as a pool of currency for Russia, Brazil, India, China and South Africa.

Eurogroup Humiliation Of Greece Complete: The Troika Is Coming Back To Athens

March 9th, 2015
Categories: Economic

Link: http://www.zerohedge.com/news/2015-03-09/eurogroup-humiliation-greece-complete-troika-coming-back-athens

The Eurogroup now calls the troika "the institutions" and the talks will, formally at least, be based in Brussels. EU ministers say they do not want "semantics" to get in the way of negotiations intended to prevent Greece going bankrupt and potentially being forced to abandon the single currency.

Some ex-Caesars employees lose retirement income because of bankruptcy

March 9th, 2015
Categories: Economic

Link: http://www.reviewjournal.com/business/casinos-gaming/some-ex-caesars-employees-lose-retirement-income-because-bankruptcy

An undisclosed number of former Caesars Entertainment Corp. employees have lost their retirement income because of the casino company’s Chapter 11 bankruptcy plan is expected to eliminate $10 billion of debt.

Greece warns against rejection of reforms

March 8th, 2015
Categories: Economic, Politics

Link: http://www.presstv.ir/Detail/2015/03/08/400907/Greece-warns-against-rejection-of-reforms

Greek Finance Minister Yanis Varoufakis: Eurozone ministers must accept Greece’s proposal of seven major reforms to secure the country’s next tranche of bailout or “there could be problems,” warns the country may hold early elections or a referendum if the eurozone does not agree to its bailout plans.

Trade Between Russia, China Expected to Reach $100Bln in 2015 – Minister

March 8th, 2015
Categories: Economic

Link: http://sputniknews.com/business/20150308/1019211352.html

Trade volume between Russia and China is expected to reach $100 billion in 2015; Chinese Foreign Minister Wang Yi: We will do our best so that the bilateral trade reaches our goal of $100 billion, we will sign an agreement on cooperation in the area of the Silk Route’s Economic Belt.

Ukraine's Potemkin Economy

March 8th, 2015
Categories: Economic

Link: http://russia-insider.com/en/2015/03/07/4201

The world's worst-performing currency this year, the Ukrainian hryvnia, has bounced back 47 VVpercent since last week's precipitous plunge. Ukraine has long had one of the biggest shadow economies in the world.

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