Tag Archives: economy

Business/Economics, International, U.S.

World War 3: UBS says war with Iran will destroy U.S. allies

Julius Walker, an oil analyst with Swiss based financial company UBS, says war with Iran could destroy ten countries, from lack of oil.

He told Business Insider that not only would the price of oil skyrocket past $250 per barrel, but the economies of ten countries could be devastated.

Those ten countries are actually allies of the United States (and some are already on the verge of collapse): China, India, Japan, South Korea, Turkey, Italy, Spain, Greece, South Africa and France.  Maybe they won’t be allies for very long?

 

Business/Economics, International, U.S.

Financial Incompetence: After ratings agencies declare Greece in default, IMF offers yet another billion dollar loan!

March 10, 2012, just hours after Moody’s declared Greece in full default the U.S. based International Monetary Fund offers Greece another multi-billion Euro loan.

Moody’s declared Greece in full default after Greece agreed to a new sovereign debt (government bonds) swap deal, which will see 53% of Greece’s debt erased.  Many holders of Greek bonds will be forced to take losses.

Now Christine Lagarde, Managing Director of the IMF, is offering Greece a U.S. $36.7 billion loan.  That’s on top of the other loans Greece is still waiting for.

So credit ratings companies are saying Greece is not in a position to pay back more debt, yet the U.S. led world finance institutions are offering Greece more debt?  By the way, the  IMF had to borrow that money from BRICS!   In 2011, for the first time in the IMF’s history they were broke, and went ‘cap in hand’ to BRICS (Brazil, Russia, India, China and South Africa) to beg for money, so they could in turn lend it to Western countries.

 

Business/Economics, International, U.S.

What Economic Recovery? Moody’s declares Greece in full default

Earlier in the day the main stream media was reporting “good” news on the latest agreement between creditors and Greece, but that’s not how Moody’s sees it.

Moody’s says the latest deal actually pushed Greece into automatic default: “According to Moody’s definitions, this exchange represents a ‘distressed exchange’ and therefore a debt default.”

On March 9, 2012, a deal was made that allowed a debt exchange plan hoping to cancel about U.S. $143 billion dollars in Greek government bonds.

Fukushima

Global Food Crisis: Out of desperation Japanese Grocery stores turn to Chinese Rice!

No thanks to the ongoing nuclear disaster at Fukushima Daiichi, Japanese rice prices have skyrocketed.  This is because the amount of Japanese rice that is not contaminated with radiation is getting smaller every month.

That fact has caused wholesale prices for Japanese rice to rise 20% since March 2011. Traditionally Japanese grocery stores will sell only Japanese rice, but now they are turning to rice from China.

Some stores are offering free samples to get their customers to buy it. Major supermarket operator, Seiyu, says they will try a test sale this coming weekend.  If it’s successful then Chinese rice could become the main food staple of Japan!

Business/Economics, International, Technology, U.S.

Oil & Gas Prices: Iraq increases oil production, North Dakota #3 oil producer, latest increase in oil prices blamed on Iran & Greece

The Iraqi government owned South Oil Company said they are about to increase oil flow from a new floating oil platform in the Persian Gulf.

The new platform is one of four to be built by an Australian company.  Each platform can flow 22,000 barrels per day.  Recently the Iraqi government said their oil production hit three million barrels per day.  This backs up the CEO of Exxon Mobil who said there is plenty of oil in the supply system.

Another proof of plenty of oil in the system; North Dakota has passed up California, as the number three oil producing state in the U.S.

Most of the oil in North Dakota comes from the controversial fracking of shale oil.  In January 2012 North Dakota’s oil production hit 546,500 barrels per day. That’s a 59% increase from January 2011!  By the way, crony capitalist Mitt Romney has hired a CEO, of one of the companies working the oil fields in North Dakota, to be his energy adviser.

Western media blaming recent increase in oil prices on Greek bailout news.  They say prices went up because (once again) a new deal has been reached, on the old deal.  It’s strange ’cause the media sometimes blames an oil price increase on the Greek deals being held up or falling through.

By the way, the Western media hasn’t really explained why the so called Greek debt problem is affecting oil prices.  Greece is not a oil producing country, and they don’t use that much petroleum compared to bigger European countries. In fact, Greece gets a lot of oil from Iran.  Maybe that’s it, they don’t want to play the sanctions game, along with my speculation about their non-compliance with Leviathan.

Western media also blaming reduction of Iranian oil bound for Europe on the price increase.  One Western source even said it was proof the oil sanctions against Iran are working.  One problem with that; Iran says they’ve made up for their cuts (note: “their” cuts, not the sanctions imposed by U.S./Europe) to Europe by increasing sales to other countries.  So who’s really getting hurt by those sanctions?

 

 

Business/Economics, International, Technology, U.S.

Oil & Gas Prices: Exxon Mobil will cut oil production, blames high fuel prices on speculators, blames Republican controlled Congress for too much regulation

Exxon Mobil, the world’s largest corporate producer of oil and natural gas, announced they will cut oil/gas production for 2012 by at least 3%.

This comes as companies like Exxon have said that they have to increase spending of their record setting profits on developing access to new sources of petroleum.

Exxon has already spent tens of billions in the past year, and they’re planning nine projects for 2013, and 12 projects for 2014.

However, it could be that the real reason Exxon Mobil is reducing production is that Iraq is challenging their contracts with the Kurdistan Regional Government.  Iraqi officials say Exxon’s contracts with Iraqi Kurdistan are illegal.  Iraq is taking legal action to kick Exxon out of the huge oil fields in northern Iraq!

Even so, Exxon Mobil’s CEO, Rex Tillerson, said fuel prices are not up because of lack of supply: “On pure supply-demand fundamentals, the markets are well supplied.”

So why are prices going up? Tillerson says “Gasoline prices are up because crude oil is up.”  Really? Duh! But wait, there’s more.  Tillerson also indicated oil prices will continue to go up because of supply issues: “People who are trying to secure those supplies are going to pay what it takes…today with the view that they might not be able to get them later.”

Basically he’s saying that despite plenty of oil already in the supply system, the speculators are driving up prices because they are afraid the oil supply will suddenly stop.

Tillerson explained that it’s not just wars that could stop the oil/gas supply, but over regulation by the Republican controlled U.S. Congress: “Our regulatory process has become so complicated by so many duplicative agencies, by so many mandates from Congress, that now it has become a way to stop things from happening. There are a thousand ways you can be told ‘no’ in this country.”

Oh, and by the way, all those billions of dollars that Exxon Mobil is going to be spending ($185 billion estimated) on those dozen or more projects in the next few years, is expected to increase their production by only 4% to 8% by 2016!!!

 

Fukushima

Global Food Crisis: Increase in number of Fish from Japan testing positive for Radiation Contamination, proof that Fukushima is spewing even more radiation!

“The frequency of radiation detection appears to be rising as two reactors at the Fukushima plant are currently leaking radiation.”-unnamed South Korean official

March 8, 2012, South Korea’s Animal, Plant and Fisheries Quarantine and Inspection Agency says fish from Japan are still contaminated with radiation, almost one year after the March 2011 nuclear disaster.

Korean officials say they’ve detected cesium in 32 recent shipments of fish from Japan.  They say that’s a 50% increase from tests done on 21 prior shipments!

South Korea has been constantly monitoring fish shipments from Japan, ever since the March nuclear disaster at Fukushima Daiichi.  They say radiation levels are still under international “safe” limit guidelines, however, it has increased in the past few months of 2011!

 

Business/Economics, International, U.S.

Global Economic War: China to start using Yuan for International Loans, BRICS will dump the U.S. dollar, Hillary Clinton demands China prove its intentions! The end of U.S. dollar dominance begins March 29!

“We will discuss the creation of structures and mechanisms for lending in local currencies in order to maximize economic and financial transactions between the countries that are members of the accord.”-statement from Brazil’s development bank BNDES

The BRICS are about to lead a new Revolution; no more U.S. dollar!  It’s being spearheaded by the Chinese Development Bank.

BRICS members (Brazil, Russia, India, China and South Africa) are about to institute a new World Lending system that will not require the use of the U.S. dollar!

Reports say the new system will be signed into operation by BRICS members on March 29, 2012.  It will deal in not only the Chinese Yuan, but in local money as well.  Currently most international lending systems require loans to be made in U.S. dollars.  That’s because the major lenders, the IMF and World Bank, are actually run by the United States.

In response (yet not really explained by the main stream U.S. media why Clinton is making such a statement) U.S. Secretary of State, Hillary Clinton, is demanding China explain itself: “Given the historic challenges to security and stability posed by rising powers, they do have a special obligation to demonstrate in concrete ways that they are going to pursue a constructive path.”

Clinton’s statement shows just how paranoid the U.S. government is of China.  But, oh well, surveys show many of the citizens of the U.S. are also paranoid of China!  This new international lending agreement with the BRICS will only prove to the paranoids that they are justified in their fear.

 

 

 

Fukushima

Government Incompetence: Japan finally starts decontamination of roads!

Almost a year after the March 11, 2011, Mega Quake that led up to the nuclear disaster at Fukushima Daiichi, the Japanese government has finally started decontamination of roads around the GE designed disaster reactors!

On March 8, workers began spraying down a road around Naraha Town Hall.  Observers say the radiation levels immediately dropped by 80%!

So why did the government wait so long to do it?  IDK, but probably the real reason why they finally started the decontamination was to stop the exodus of people from that area.  Japanese media reports say the government is hoping their late in coming decontamination efforts will convince people to return to their homes!

Last year, out of desperation several local governments tried to decontaminate on their own, but ran into funding and staffing issues.  They appealed to the national government for help.

 

Fukushima

Japan Modern Day Atlantis round 11: More than 10,000 earthquakes hit Japan in the past year! Japan Islands shift Eastward!

Japan’s Meteorological Agency reporting that in the past 12 months, Japan has been hit with 10,119 earthquakes!

70% are considered aftershocks to the March 11, 2011 Mega Quake.  The agency includes quakes that are weak but can still be felt by humans.

Japan’s Geospatial Information Authority reported that the main islands of Japan have shifted eastward. Yamada Town, in northeastern Iwate Prefecture, moved about 76 centimeters (more than 2 & half feet) to the east.

The scientists say massive crust movements are still taking place, and they warn people to be prepared for more big quakes!

JAPAN MODERN DAY ATLANTIS ROUND 10: NEW MEGA QUAKE PREDICTED FOR TOKYO BAY