Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-54823 Thu, 28 Aug 2014 17:06:43 GMT British Columbia, Ontario to Cooperate on Yuan Trading Hub http://implode-explode.com/viewnews/2014-08-28_BritishColumbiaOntariotoCooperateonYuanTradingHub.html iehi-feed-54822 Thu, 28 Aug 2014 15:36:42 GMT One World, One Bank, One Currency - Rickards http://implode-explode.com/viewnews/2014-08-28_OneWorldOneBankOneCurrencyRickards.html Leading the way, says Rickards, will be the International Monetary Fund. "The task of re-liquefying the world will fall to the IMF because the IMF will have the only clean balance sheet left among official institutions. The IMF will rise to the occasion with a towering issuance of SDRs, and this monetary operation will effectively end the dollar's role as the leading reserve currency."

...

A 42-page IMF paper published in January 2011 with the innocuous-sounding title "Enhancing International Monetary Stability -- A Role for the SDR?" -- lays out what Rickards describes. "A multiyear, multistep plan to position the SDR as the leading global reserve asset. The study recommends increasing the SDR supply to make them liquid and more attractive to potential private-sector market participants such as Goldman Sachs and Citigroup... The IMF study recommends that the SDR bond market replicate the infrastructure of the U.S. Treasury market, with hedging, financing, settlement and clearance mechanisms substantially similar to those used to support trading in Treasury securities today."

...

The genius of the scheme is that the SDRs would create inflation... but ordinary people wouldn't know SDRs were causing it. "Any inflation caused by massive SDR issuance would not be immediately apparent to citizens. The inflation would show up eventually in dollars, yen and euros at the gas pump or the grocery, but national central banks could deny responsibility with ease and point a finger at the IMF."

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iehi-feed-54821 Thu, 28 Aug 2014 13:09:59 GMT Europe will be Russia's hostage over gas supplies for at least another decade http://implode-explode.com/viewnews/2014-08-28_EuropewillbeRussiashostageovergassuppliesforatleastanotherdecade.html iehi-feed-54820 Thu, 28 Aug 2014 13:01:17 GMT Lars Schall - Interview With Ambrose Evans-Pritchard http://implode-explode.com/viewnews/2014-08-28_LarsSchallInterviewWithAmbroseEvansPritchard.html iehi-feed-54819 Thu, 28 Aug 2014 12:57:51 GMT Russian Central Bank prepares bill to create SWIFT analog in Russia http://implode-explode.com/viewnews/2014-08-28_RussianCentralBankpreparesbilltocreateSWIFTanaloginRussia.html iehi-feed-54818 Thu, 28 Aug 2014 12:55:45 GMT The DSKing Of Christine Lagarde: IMF Head Formally Charged In Fraud Probe http://implode-explode.com/viewnews/2014-08-28_TheDSKingOfChristineLagardeIMFHeadFormallyChargedInFraudProbe.html iehi-feed-54815 Wed, 27 Aug 2014 17:07:03 GMT Is Asian gold demand really slipping so much? - Lawrence Williams http://implode-explode.com/viewnews/2014-08-27_IsAsiangolddemandreallyslippingsomuchLawrenceWilliams.html Reuters reports Hong Kong net gold exports to mainland China in July as falling to the lowest level since June 2011 at 22 tonnes (Bloomberg reports the figure as 21 tonnes).... [But] While Hong Kong was very much the primary routing for gold entering the Chinese mainland in the past, indications are that this may no longer be the case as China has now designated a number of other points as import points for gold -- notably Shanghai and Beijing. But as it does not publish statistics for these, overall import figures are much more opaque.

[Koos Jansen] sees total Chinese demand to August 1st as 1,094 tonnes and imports to this date are estimated at 688 tonnes. Extrapolating for the full year this could suggest total annual imports of 1,170 tonnes, although given there was an import surge in January and February the figures might not be directly comparable -- but even so it does mean Chinese gold imports may well amount to perhaps around 1,000 tonnes for the whole of 2014.

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iehi-feed-54813 Wed, 27 Aug 2014 16:43:30 GMT Clive Maund: Will the US succeed in breaking Russia to maintain dollar hegemony? http://implode-explode.com/viewnews/2014-08-27_CliveMaundWilltheUSsucceedinbreakingRussiatomaintaindollarhegemo.html The US wants to "deal with Russia" which has made substantial moves to operate outside the confines of the dollar based trading system. If it could attack it militarily and bomb it into submission, as it has done with various smaller states, it would, but because Russia is a big powerful country with a sizeable military of its own, and nukes, that is not an option.''

The US searched for a geographic doorway through which to attack Russia -- the North and east routes don't work because they are either ocean or China, countries like Poland in Europe wouldn't do either, because they are firmly in the Western camp now, but the Ukraine was perfect for the job because of its being a large country on the SW flank of Russia that is torn in two directions, having old loyalties and blood ties to Russia, and aspirations to a closer union with Europe -- the perfect place to foment a pro-Western revolution and perhaps a civil war that would draw Russia in and could then be used as an excuse to implement sanctions. That is exactly what has happened.

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iehi-feed-54811 Wed, 27 Aug 2014 15:40:59 GMT Scottish separatist wins TV debate ahead of referendum http://implode-explode.com/viewnews/2014-08-27_ScottishseparatistwinsTVdebateaheadofreferendum.html iehi-feed-54810 Wed, 27 Aug 2014 15:26:29 GMT Talks optimism fades as Ukraine says Russia makes new incursion http://implode-explode.com/viewnews/2014-08-27_TalksoptimismfadesasUkrainesaysRussiamakesnewincursion.html iehi-feed-54808 Wed, 27 Aug 2014 15:14:41 GMT Lost in America - Frank Bruni http://implode-explode.com/viewnews/2014-08-27_LostinAmericaFrankBruni.html Conventional wisdom has seldom been so useless, because pessimism in this country isn't usually this durable or profound... Much of this was chillingly captured by a Wall Street Journal/NBC News poll from early August that got lost somewhat amid the recent deluge of awful news but deserved closer attention. It included the jolting finding that 76 percent of Americans ages 18 and older weren't confident that their children's generation would fare better than their own. That's a blunt repudiation of the very idea of America, of what the "land of opportunity" is supposed to be about. For most voters, the national narrative is no longer plausible.

The poll also showed that 71 percent thought that the country was on the wrong track. While that represents a spike, it also affirms a negative mind-set that's been fixed for a scarily long time. As the Democratic strategist Doug Sosnik has repeatedly noted, more Americans have been saying "wrong track" than "right track" for at least a decade now, and something's got to give.

...

The new jobs don't feel as sturdy as the old ones. It takes more hours to make the same money or support the same lifestyle. Students amass debt. Upward mobility increasingly seems a mirage, a myth.

... this isn't just about the economy. It's about fear. It's about impotence. We can't calm the world in the way we'd like to, can't find common ground and peace at home, can't pass needed laws, can't build necessary infrastructure, can't, can't, can't.

In the Journal/NBC poll, 60 percent of Americans said that we were a nation in decline. How sad. Sadder still was this: Nowhere in the survey was there any indication that they saw a method or a messenger poised to arrest it.

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iehi-feed-54807 Tue, 26 Aug 2014 13:08:42 GMT Battle Against Islamists Roils Libya http://implode-explode.com/viewnews/2014-08-26_BattleAgainstIslamistsRoilsLibya.html Two articles on the Libya situation-

1. Arab Nations Strike in Libya, Surprising U.S. :

Twice in the last seven days, Egypt and the United Arab Emirates have secretly launched airstrikes against Islamist-allied militias battling for control of Tripoli, Libya, four senior American officials said, in a major escalation of a regional power struggle set off by Arab Spring revolts.''

The United States, the officials said, was caught by surprise: Egypt and the Emirates, both close allies and military partners, acted without informing Washington, leaving the Obama administration on the sidelines. Egyptian officials explicitly denied to American diplomats that their military played any role in the operation, the officials said, in what appeared a new blow to already strained relations between Washington and Cairo.

...

The United States, the officials said, was caught by surprise: Egypt and the Emirates, both close allies and military partners, acted without informing Washington, leaving the Obama administration on the sidelines. Egyptian officials explicitly denied to American diplomats that their military played any role in the operation, the officials said, in what appeared a new blow to already strained relations between Washington and Cairo.

2. Islamist fighters seize Tripoli airport:

If independent sources confirm the airport has changed hands, it would be a major defeat for the nationalist fighters from Zintan west of Tripoli who have held the airport since the fall of long-time dictator Muammar Gaddafi in 2011.

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iehi-feed-54806 Tue, 26 Aug 2014 13:03:27 GMT Shanghai Silver Warehouse Stocks Fall 24% In One Week http://implode-explode.com/viewnews/2014-08-26_ShanghaiSilverWarehouseStocksFall24InOneWeek.html iehi-feed-54805 Tue, 26 Aug 2014 13:00:35 GMT Russia Prepares 2nd Humanitarian Convoy http://implode-explode.com/viewnews/2014-08-26_RussiaPrepares2ndHumanitarianConvoy.html iehi-feed-54804 Tue, 26 Aug 2014 12:57:55 GMT France In "Political Turmoil" After Hollande Unexpectedly Dissolves Government http://implode-explode.com/viewnews/2014-08-26_FranceInPoliticalTurmoilAfterHollandeUnexpectedlyDissolvesGovern.html iehi-feed-54799 Mon, 25 Aug 2014 15:44:29 GMT Talk of ECB action grows amid Europe growth worry, German Data http://implode-explode.com/viewnews/2014-08-25_TalkofECBactiongrowsamidEuropegrowthworryGermanData.html iehi-feed-54798 Mon, 25 Aug 2014 15:37:50 GMT Russia Lashes Out At U.S. ‘Monopoly' on Humanitarianism With Aid Convoy to Ukraine http://implode-explode.com/viewnews/2014-08-25_RussiaLashesOutAtUSMonopolyonHumanitarianismWithAidConvoytoUkrai.html iehi-feed-54797 Sun, 24 Aug 2014 16:09:23 GMT Central bankers struggling to say no to easy-money policies http://implode-explode.com/viewnews/2014-08-24_Centralbankersstrugglingtosaynotoeasymoneypolicies.html iehi-feed-54796 Sun, 24 Aug 2014 13:26:57 GMT China's Reaction on "Dangerous" Fighter: America Is A "Disgusting Thief Spying Over His Neighbor's Fence" http://implode-explode.com/viewnews/2014-08-24_ChinasReactiononDangerousFighterAmericaIsADisgustingThiefSpyingO.html iehi-feed-54794 Sun, 24 Aug 2014 13:20:45 GMT The Causes of the MH17 Crash are "Classified". Ukraine, Netherlands, Australia, Belgium Signed a "Non-disclosure Agreement" http://implode-explode.com/viewnews/2014-08-24_TheCausesoftheMH17CrashareClassifiedUkraineNetherlandsAustraliaB.html