Implode-Explode Heavy Industries news feed Tracking the many faces of the global credit implosion. en-us iehi-feed-54539 Wed, 30 Jul 2014 20:49:30 GMT "US Will Feel Tangible Losses," Russia Prepares To Unleash Retaliatory Trade Wars iehi-feed-54538 Wed, 30 Jul 2014 20:48:34 GMT Grillo predicts IMF bailout for Italy iehi-feed-54537 Wed, 30 Jul 2014 20:46:46 GMT Russian parliament may revise all international agreements over Yukos case iehi-feed-54536 Wed, 30 Jul 2014 20:44:38 GMT Levitin: US Courts' Hearing of Argentine Bond Case is Folly iehi-feed-54533 Wed, 30 Jul 2014 14:03:21 GMT Axel Merk: Fed Won't Be Able To Yank Real Interest Rates Above Zero; Gold Will Benefit iehi-feed-54530 Wed, 30 Jul 2014 13:53:42 GMT How Argentina's Default May Trigger $29 Billion in Claims iehi-feed-54529 Wed, 30 Jul 2014 13:52:44 GMT BP's Faustian Pact with Russia goes horribly wrong with Yukos verdict iehi-feed-54528 Wed, 30 Jul 2014 04:29:56 GMT Hong Kong Likely To Have To Abandon Dollar Peg Soon iehi-feed-54527 Wed, 30 Jul 2014 04:28:41 GMT Currency Wars Intensify As Russia Accelerates Gold Acquisitions iehi-feed-54525 Tue, 29 Jul 2014 20:48:06 GMT Gold-for-Bitcoin Trading, Gold-Backed Bitcoins, Explode on the Scene This topic comes in the form of a pair of articles. The first is Gold for bitcoin new fad as e-currency count nears 500-mark

``According to bitcoin traders, the stabilisation in bitcoin rates is making the case stronger for exchanging them for gold that currently trades at less than USD 1,300 per ounce or about Rs 28,000 per 10 grams in India... Some firms and traders have begun aggressively selling bitcoins in exchange of gold, while new websites and portals are cropping up almost every day to cash in on this new frenzy, according to industry players. ''

The second is Gold Bugs Meet Bitcoin Believers to Supplant the Dollar:

``"A staunch person who believes in the gold standard says bitcoin is valueless and ultimately a Ponzi scheme, and people who didn't dig gold but really got bitcoin would say that this is ridiculous, it's just a dumb metal," Anthem Hayek Blanchard, chief executive officer of Anthem Vault Inc., the company behind the Independence Coin, said in an interview. "We don't need to fight. We can coalesce."
iehi-feed-54523 Tue, 29 Jul 2014 17:39:15 GMT Former US Mint Director: Audits of US Gold Since 1953 Have Been Of The "Peek Through The Vault Door" Variety iehi-feed-54522 Tue, 29 Jul 2014 17:24:27 GMT "London Fix" Gold Rigging By Bullion Bank Exposed In Class Action Lawsuit: The Complete Charts iehi-feed-54518 Tue, 29 Jul 2014 13:48:25 GMT NEW MH17 SENSATION: German experts point finger at Ukrainian air-force jets iehi-feed-54515 Mon, 28 Jul 2014 14:43:07 GMT Argentine Default Drama Nears Critical Stage iehi-feed-54514 Mon, 28 Jul 2014 14:40:11 GMT The BRICS Bank Is Born Out of Politics - Forbes iehi-feed-54513 Mon, 28 Jul 2014 14:35:39 GMT Kiev's forces capture rebel territory close to Malaysia Airlines crash site; Investigation Imperiled iehi-feed-54510 Mon, 28 Jul 2014 14:13:24 GMT Yukos Owners Win $50 Billion in 10-Year Fight With Russia iehi-feed-54508 Mon, 28 Jul 2014 13:54:15 GMT Meet the man who's driving Argentina to the brink iehi-feed-54507 Sun, 27 Jul 2014 23:29:42 GMT The Italian Government Owes Over $100 Billion To Private Suppliers iehi-feed-54506 Sun, 27 Jul 2014 23:22:31 GMT Luxembourg Pursues Offshore Trade in China's Yuan "The internationalization of the renminbi is one of the major events, if not the major event, since the creation of the euro in terms of monetary events. It's potentially huge, so we want to be positioned for that market," Luxembourg Finance Minister Pierre Gramegna said in an interview... Even Crown Prince Guillaume, the 32- year-old heir to the Grand Duchy, has joined in, accompanying a December delegation to China.

Officials at the Luxembourg Stock Exchange keep enamel pins pairing the Luxembourg and Chinese flags to wear at events celebrating yuan-denominated bond listings, which hit 30.6 billion yuan in volume when Bank of China Ltd. 601988.SH +0.77% raised 1.5 billion yuan in May. At the Association of the Luxembourg Fund Industry, information packs and wall posters have been translated into Mandarin. Local legal and accounting firms and even the financial regulator, the CSSF, say they are hiring Chinese speakers.


At the end of [recent Luxembourg delegation meetings to China], China signed a clutch of agreements that should lead to the establishment in Luxembourg of a yuan clearing bank and bring more China-related funds, bonds and stocks to the country. Meanwhile, three of China's six biggest banks have set up European headquarters in the area locals call Luxembourg city's "mini Wall Street," and two more announced plans in the past few weeks.

At China Construction Bank Corp., which got its Luxembourg banking license last year, European chief Suosheng Li can look out from the bank's glass-and-steel headquarters building onto the three round towers of Fort Thungen, an 18th century citadel that is one of the city's main landmarks. CCB's nine-story office block is mostly empty right now, but the bank aims to fill it with staff who will help bring Chinese companies to Europe and serve China-focused European customers, Mr. Li said.