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Seven EU countries support lifting sanctions on Russia — source

January 15th, 2015
Categories: Economic

Link: http://itar-tass.com/en/world/771324

Austria, Hungary, Italy, Cyprus, Slovakia, France and the Czech Republic support lifting the anti-Russia sanctions. “Ministers will most likely be preparing the ground for softening the sanctions. Hollande: economic sanctions against Russia must be stopped

Attempts to isolate Russia futile — Russian FM

Sanctions against large countries not effective — Sberbank CEO

‘Carnage’ In Financial Markets Boosts Gold As Safe-Haven Asset

January 15th, 2015
Categories: Economic

Link: http://www.kitco.com/news/2015-01-15/Carnage-In-Financial-Markets-Boost-Gold-As-Safe-Haven-Asset.html

Gold prices hit a four-month high of $1,261 an ounce as Swiss National Bank creating massive volatility, “carnage” in the marketplace. Growing expectations the ECB will introduce a full-scale quantitative easing program, announce that they will purchase about €500 billion in sovereign bonds.

Gold rallies to a 4-month high; ends at $1,264.80

January 15th, 2015
Categories: Economic

Link: http://www.cnbc.com/id/102338987

Gold prices jumped to a 4-month high on Thursday as European shares and the dollar turned lower after a shock move by Switzerland to abandon its three-year cap on the franc sent Europe's shares and bond yields tumbling.

Hundreds of thousands of US layoffs expected as oil boom unravels

January 15th, 2015
Categories: Economic

The drop in the price of oil has prompted oil companies to prepare mass layoffs in 2015 as sections of the industry become unprofitable. According to a variety of sources, hundreds of thousands of jobs in the US alone could disappear this year if oil prices remain low.

Russia’s banking system stable — Central Bank official

January 15th, 2015
Categories: Economic

Link: http://itar-tass.com/en/economy/771433

Russia’s banking system is stable today, Russian Central Bank will continue efforts to clean up the banking sector, including in the current economic conditions; Central Bank First Deputy Chairman Alexey Simanovsky.

Oil Prices Drop Again After Brief Revival on OPEC Demand Forecast for 2015

January 15th, 2015
Categories: Economic

Link: http://sputniknews.com/business/20150115/1016941463.html

February futures for West Texas Intermediate (WTI) and Brent crude oil dropped to less than $49 per barrel after a brief revival to $50, caused by the revised forecast for 2015 global oil demand, published by Organization of the Petroleum Exporting Countries (OPEC.)

OPEC, Russia in 'Cold War' Over Falling Oil Prices

January 15th, 2015
Categories: Economic

Link: http://sputniknews.com/business/20150115/1016937469.html

The Organization of the Petroleum Exporting Countries (OPEC) and nonmembers of the organization, namely Russia, engaged in a "cold war" amid decreasing oil prices; Bahrain's National Oil and Gas Authority. Should OPEC members reduce oil prices further, nonmember countries could replace them in supplying oil and eat into OPEC's market share.

Swiss franc soars after central bank action

January 15th, 2015
Categories: Economic

The franc soared against the euro and Swiss stocks plunged more than 13 percent by midday after the removal of the Swiss franc-euro floor was announced by the central bank. After appreciating more than 30 percent, by mid-afternoon the franc was nearing parity with the euro (valued at 1.02 francs) and rose as much as 14 percent against the US dollar.

World Bank: India Set to Become World’s Fastest-Growing Big Economy

January 14th, 2015
Categories: Economic

Link: http://blogs.wsj.com/indiarealtime/2015/01/14/world-bank-india-set-to-become-worlds-fastest-growing-big-economy/?mod=e2tw

World Bank: India on course to overtake China as world’s fastest growing, big economy in next two years. Prime Minister Narendra Modi unveiled plans to change how India’s economy is managed; cut red tape, raise infrastructure investment, deregulate key parts of economy, shrink role of government.

Russia Could Make Windfall Selling Currency Reserves as Ruble Undervalued

January 14th, 2015
Categories: Economic

Link: http://sputniknews.com/business/20150114/1016872137.html

Russia could make a windfall if it sold its currency reserves because the ruble is currently undervalued on the market, Russian Finance Minister Anton Siluanov.

JPMorgan hit by legal costs, Dimon says banks 'under assault'

January 14th, 2015
Categories: Economic

Link: http://www.democraticunderground.com/1014988360

JPMorgan Chase & Co (JPM.N), the biggest U.S. bank by assets, reported a 6.6 percent drop in quarterly profit as legal costs exceeded $1 billion in the wake of government probes, leading Chief Executive Jamie Dimon to claim banks were "under assault."

Russell – Buy Gold And Silver While It’s Still Available As China To Back Yuan With Gold

January 14th, 2015
Categories: Economic

Link: http://kingworldnews.com/richard-russell-major-surprise-stocks-china-back-yuan-gold/

China moving to back the yuan with gold to a huge surprise for global stock markets. GDP is about to take over the US’s GDP. This will make China’s economy the greatest economy the world has ever seen, wants its currency to be as strong as or stronger than the US dollar. If world commerce is transacted with gold-back Yuan, China will have won a tremendous victory.

Americans Have Spent Enough Money On A Broken Plane To Buy Every Homeless Person A Mansion

January 13th, 2015
Categories: Economic

Link: http://refreshingnews99.blogspot.in/2015/01/americans-have-spent-enough-money-on.html

The vast amounts United States spent on the F-35 II Lightning aircraft, could have provided every homeless person in the U.S. a $600,000 home.

Wealthiest Americans say the poor have it easy: "A survey by the Pew Research Center found that 54% of those with the greatest financial security believe that 'poor people today have it easy because they can get government benefits without doing anything

January 13th, 2015
Categories: Economic

Link: http://www.newsforage.com/2015/01/wealthiest-americans-say-poor-have-it.html

Only 36% of the wealthiest say "poor people have hard lives because government benefits don't go far enough to help them live decently."Those struggling the most financially believe the poor need more help by two-to-one margin. The rich say most corporations make a "fair and reasonable amount of profit,"65% of the poor believe corporations make "far too much."

Andrew Hoffman – The Whole World is Falling Apart - Video

January 12th, 2015
Categories: Economic

Link: http://thedailycoin.org/?p=15352#sthash.ds5jQCwW.0nOFtBqu.dpbs

The silver institute claiming there will be a 27% increase in the use of industrial silver by 2018–mining operations are either slowing down or shutting down. Number of ounces required for industrial use are going to be further squeezed by the investment demand which is on the rise.

Another Run on Greek Banks Begins; Get Out While You Still Can; Buy Gold

January 10th, 2015
Categories: Economic

Link: http://www.blacklistednews.com/Another_Run_on_Greek_Banks_Begins%3B_Get_Out_While_You_Still_Can%3B_Buy_Gold/40715/0/38/38/Y/M.html

In November, Greeks withdrew €220 million from banks. In December, the figure soared to €3 billion. €600 million of that total came on December 29, when Greece failed to elect a new president, thereby forcing national elections on January 25.

Russia, Thailand Consider Using National Currencies in Bilateral Trade

January 9th, 2015
Categories: Economic

Link: http://sputniknews.com/business/20150109/1016723618.html

Russia and Thailand considering switching to making payments in national currencies in bilateral trade; Russian Minister of Industry and Trade. Banks of the two nations have to establish framework for mutual payments in national currencies, In 2014, Russia agreed to increase payments in national currencies with China, Iran and Turkey.

Ukraine Seeks More Trade With China Amid Losses on Russian Market

January 9th, 2015
Categories: Economic

Link: http://sputniknews.com/business/20150109/1016704279.html

Ukraine suffered as result of decreased trade with Russia in 2014, expects to compensate by contracts with China a very big market,; Minister of Agrarian Policy and Food. Russia restricted import of vegetables, fruits and dairy products from Ukraine,

Euro sinks to fresh nine-year low

January 9th, 2015
Categories: Economic

Link: http://www.bbc.com/news/business-30728304

The euro hit nine-year low against the dollar, in part after a surprise decrease in German manufacturing. German factory orders fell 2.4% in November, worse than expected. Speculation about extra stimulus measures to combat eurozone deflation also played a part in the euro's drop.

Russia and China: The Dawning of a New Monetary System?

January 9th, 2015
Categories: Economic

Link: http://www.globalresearch.ca/russia-and-china-the-dawning-of-a-new-monetary-system/5423637

Once the demand for the (petro) dollar fades the value of the dollar will decline and at worst may result in hyperinflation in the dollar economies, including those closely linked to the US economy.

Euro zone officially tips into deflation

January 9th, 2015
Categories: Economic

Link: http://www.wsws.org/en/articles/2015/01/09/euro-j09.html

Figures released by Eurostat on Wednesday confirm that the euro area has fallen into deflation for the first time since 2009, when the region suffered the disastrous economic consequences of the 2008 financial crisis.

Venezuela Joins Argentina & Russia, Bends Over For China

January 9th, 2015
Categories: Economic

Link: http://www.blacklistednews.com/Venezuela_Joins_Argentina_%26_Russia%2C_Bends_Over_For_China/40706/0/38/38/Y/M.html

China is Venezuela’s largest creditor, loaned the country over US $50 billion since 2007 in exchange for oil, last year Xi signed a US $4 billion cash-for-oil deal. Venezuela depends on oil for 95% of its export income, oil and gas account for about 25% of GDP.

HEARTLESS: Associated Builders & Contractors Suing City of Lansing So Workers Can Be Paid Less

January 9th, 2015
Categories: Economic

Link: http://www.democraticunderground.com/1014984489

The Michigan Supreme Court agreed to hear a case brought forward by the Associated Builders and Contractors (ABC) which questions constitutionality of the City of Lansing’s prevailing wage ordinance. Rejected by Michigan Court of Appeals, does not conflict with Michigan Constitution or state law.”

Greek minister moves to allay fears of bank run

January 9th, 2015
Categories: Economic

Link: http://www.democraticunderground.com/1014984502

Greece’s finance minister has sought to allay fears that political uncertainty prompted by snap polls later this month will spark a run on banks, amid worrying signs that savers are rushing to withdraw deposits.

Who Will Be Hurt The Most If Greece Defaults

January 8th, 2015
Categories: Economic

Link: http://www.zerohedge.com/news/2015-01-07/who-will-be-hurt-most-if-greece-defaults

Germany, France, Italy, Portugal, Cyprus, Slovenia These countries have the most to lose if Greece decides to write down its public debt. Contagion - once broken out will impact not just countries but corporations and banks.

Oil Prices to Go Up After Hitting Low: US State Department Official

January 8th, 2015
Categories: Economic

Link: http://sputniknews.com/us/20150109/1016697168.html

Special Envoy and Coordinator for International Energy Affairs at the US Department of State :Oil prices might continue dropping, but they will definitely bounce back in the future, explained that price drops happen periodically. This has happened before and it will happen again.

China Plans to Invest Extra $250Mln in Latin America Over Coming Decade

January 8th, 2015
Categories: Economic

Link: http://sputniknews.com/business/20150108/1016674969.html

China announced plan to increase investment in Latin America to $250million, double trade in region; $500 billion over coming decade. China will invest $20 million in Venezuela, provide $7 million dollars in credit and loans to Ecuador. New phase of bilateral development between China and Community of Latin American and Caribbean States (CELAC); comprises 33 Latin American countries. Trade between China and CELAC members increased from $10 billion to $257 billion.

"Europe Can't Afford A Greek Exit" German Opposition Warns Merkel Is "Playing With Fire"

January 8th, 2015
Categories: Economic

Link: http://www.zerohedge.com/news/2015-01-08/europe-cant-afford-greek-exit-german-opposition-warns-merkel-playing-fire

Tthe status quo is a boon for Germany economically and politically, benefits more than most euro members from the single currency. Greek departure may not end the euro, risk of contagion through the bloc’s financial markets. If it had to return to the deutsche mark, German exporters, which account for about half of gross domestic product, would become much less competitive.

60,000 corporations closed every year because of taxes, lost 1 million corporations since their height during the Reagan era

January 8th, 2015
Categories: Economic

Link: http://investmentwatchblog.com/60000-corporations-closed-every-year-because-of-taxes-lost-1-million-corporations-since-their-height-during-the-reagan-era/

America has lost 1 million corporations since their height during the Reagan era, in part driven out of business by the industrialized world’s highest corporate tax rate, according to a new report from the nonpartisan Tax Foundation.

George Soros: Russia Could Default & Disrupt Global Markets; Europe Must Bailout Ukraine

January 8th, 2015
Categories: Economic

Link: http://www.blacklistednews.com/George_Soros%3A_Russia_Could_Default_%26_Disrupt_Global_Markets%3B_Europe_Must_Bailout_Ukraine/40677/0/38/38/Y/M.html

“Neither the European Union nor the United States is willing to risk war with Russia, and that leaves economic sanctions … The harm has turned out to be much bigger than anybody anticipated. Ukraine in need of financial assistance.

2015: Asymmetric Oil Warfare

January 8th, 2015
Categories: Economic

Link: http://www.blacklistednews.com/2015%3A_Asymmetric_Oil_Warfare/40643/0/38/38/Y/M.html

Entering new phase of asymmetric war waged not over oil but the price of oil. Asymmetric warfare is defined as war between belligerents whose relative military power differs significantly, or whose strategy or tactics differ significantly. Each party with interest in the price of oil has a different set of weapons, goals, relative military/financial power. U.S. is a major producer but it still imports oil.

WORLD WAR III: Anglo-American Axis vs. BRICS Alliance

January 7th, 2015
Categories: Economic

Link: http://www.pakalertpress.com/2015/01/07/world-war-iii-anglo-american-axis-vs-brics-alliance/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+pakalert+%28Pak+Alert+Press%29

In order to prop up the dollar while simultaneously printing trillions, the U.S. has decided to use their military to force nations to sell their natural resources for dollars. This increases demand for the dollar (because nations need dollars for natural resources) and prevents rapid devaluation of the dollar.

One in seven Detroiters threatened with eviction in wave of home foreclosures

January 7th, 2015
Categories: Economic

Link: http://www.wsws.org/en/articles/2015/01/07/detr-j07.html

One in seven Detroit residents is threatened with eviction due to tax foreclosure in 2015. Last fall, Detroit, served foreclosure notices on record 75,000 homes, comes in the wake of Detroit’s municipal bankruptcy proceedings, largest in US history. Pensions were looted to squeeze every penny possible from working class to ensure continued flow of profits to the wealthy.

2015: Now That the Fed Drove Everyone into Ruinously Risky Bets…

January 7th, 2015
Categories: Economic

Link: http://www.thedailysheeple.com/2015-now-that-the-fed-drove-everyone-into-ruinously-risky-bets_012015

The central bank/state plan for 2015 is a continuation of the same plan that’s been in play since 2009: drive everyone with any cash or capital into ruinously risky bets. The problem for the central bankers/states driving everyone into risk assets is the yields on these bets are entering the exhaustion zone of marginal returns.

WHY THE IMPLEMENTATION OF A LIVING WAGE IS UNAVOIDABLE—IT’LL BE PROMOTED BY THE RICH AND SUPERRICH?

January 7th, 2015
Categories: Economic

Link: http://investmentwatchblog.com/why-the-implementation-of-a-living-wage-is-unavoidable-itll-be-promoted-by-the-rich-and-superrich/

Imagine the 1% (the rich and superrich) increasingly keep extracting wealth from the 99%, and yet expecting to maintain their wealth?! What would they do when the 99% are debt, broke, exhausted and poor with nothing else left for the 1% to take away from them?

The Breakdown Is Near: Oil Derivatives Explode Early This Year, Wall Street Banks Could Be Facing Absolutely Colossal Losses, Qe4 Accompanied By Bank Bail-ins

January 6th, 2015
Categories: Economic

Link: http://investmentwatchblog.com/the-breakdown-is-near-oil-derivatives-explode-early-this-year-wall-street-banks-could-be-facing-absolutely-colossal-losses-qe4-accompanied-by-bank-bail-ins/

Breakdown in crude oil price is going to spawn another financial crisis tied to the junk debt issued to finance the shale oil plays in North America of half a trillion dollars worth of junk debt that is held largely by large financial institutions in the western world. Six largest “too big to fail” banks control $3.9 trillion in commodity derivatives contracts.

Global stocks fall, bonds rise on oil, euro zone worries.

January 6th, 2015
Categories: Economic

Link: http://www.democraticunderground.com/1014982272

Stock prices fell on global markets on Tuesday, stuck in a dismal start to 2015 as tumbling oil prices and Greece's possible exit from the euro zone struck a note of fear and drove investors to safe-haven assets, including gold, the yen and low-risk government bonds.

Oil Falls Below 50 As Global Financial Markets Begin To Unravel

January 6th, 2015
Categories: Economic

Link: http://www.thedailysheeple.com/oil-falls-below-50-as-global-financial-markets-begin-to-unravel_012015

Monday, price of oil fell below $50 for first time since April 2009, Dow dropped 331 points. Stock market declines in Europe even larger on a percentage basis, euro sank to nine year low on concerns the anti-austerity Syriza party will be victorious in the upcoming election in Greece.

Ukraine’s Annual Inflation Rate Hits 24.9%: State Statistics Service

January 6th, 2015
Categories: Economic

Link: http://sputniknews.com/europe/20150106/1016573393.html

Ukraine’s annual inflation rate reached 24.9 percent December 2014, price of basic foodstuffs 31.8% greater than revious year; State Statistics service of Ukraine. Ukraine currently undergoing severe political crisis, had significant negative impact on country’s economy.

Jeff Gundlach: "If Oil Drops To $40 The Geopolitical Consequences Could Be Terrifying"

January 5th, 2015
Categories: News, World, Economic

Link: http://www.zerohedge.com/news/2015-01-05/jeff-gundlach-if-oil-drops-40-geopolitical-consequences-could-be-terrifying

In a recent interview with FuW, DoubleLine's Jeff Gundlach explained his concerns about the oil market not being "unequivocally good" for everyone... Question: The crash in the oil market is already causing jitters in the financial markets around the globe. What is your take on that? Gundlach: Oil is incredibly important right now. If oil falls to around $40 a barrel then I think the yield on ten year treasury note is going to 1%. I hope it does not go to $40 because then something is very, very wrong with the world, not just the economy. The geopolitical consequences could be – to put it bluntly – terrifying.

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