Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-54853 Tue, 02 Sep 2014 13:03:58 GMT Russia demands publication of recordings from downed flight MH17 http://implode-explode.com/viewnews/2014-09-02_RussiademandspublicationofrecordingsfromdownedflightMH17.html iehi-feed-54850 Tue, 02 Sep 2014 12:52:33 GMT Two experts warn correction could total 60% http://implode-explode.com/viewnews/2014-09-02_Twoexpertswarncorrectioncouldtotal60.html iehi-feed-54849 Tue, 02 Sep 2014 12:46:17 GMT Europe Fantastic Bond Bubble: How The Central Banks Have Unleashed Monumental Speculation | David Stockman http://implode-explode.com/viewnews/2014-09-02_EuropeFantasticBondBubbleHowTheCentralBanksHaveUnleashedMonument.html iehi-feed-54848 Tue, 02 Sep 2014 12:39:18 GMT Pepe Escobar - Obama's 'stupid stuff' legacy http://implode-explode.com/viewnews/2014-09-02_PepeEscobarObamasstupidstufflegacy.html iehi-feed-54846 Mon, 01 Sep 2014 18:36:38 GMT Washington's "Pivot" hits a Brick Wall. Obama's "Catastrophic Defeat" in Ukraine http://implode-explode.com/viewnews/2014-09-01_WashingtonsPivothitsaBrickWallObamasCatastrophicDefeatinUkraine.html iehi-feed-54841 Sun, 31 Aug 2014 15:07:39 GMT Why Won't the Miners Fight Back? http://implode-explode.com/viewnews/2014-08-31_WhyWonttheMinersFightBack.html iehi-feed-54839 Sun, 31 Aug 2014 14:51:13 GMT "Russia Invades Ukraine", Strategic NATO Public Relations Stunt. Where are the Russian Tanks? - Michel Chossudovsky http://implode-explode.com/viewnews/2014-08-31_RussiaInvadesUkraineStrategicNATOPublicRelationsStuntWherearethe.html iehi-feed-54832 Fri, 29 Aug 2014 18:08:53 GMT Dethrone `King Dollar' - NYTimes http://implode-explode.com/viewnews/2014-08-29_DethroneKingDollarNYTimes.html ... research reveals that what was once a privilege is now a burden, undermining job growth, pumping up budget and trade deficits and inflating financial bubbles. To get the American economy on track, the government needs to drop its commitment to maintaining the dollar's reserve-currency status.

...

while more balanced trade might raise prices, there's no reason it should persistently increase the inflation rate. We might settle into a norm of 2 to 3 percent inflation, versus the current 1 to 2 percent. But that's a price worth paying for more and higher-quality jobs, more stable recoveries and a revitalized manufacturing sector. The privilege of having the world's reserve currency is one America can no longer afford.

Right-- since the dollar is toast, "that's what we really wanted anyways!" Kind of like a reverse-psychology spin to inevitability. At any rate, we doubt the benign inflations ramifications suggested here.

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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-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-54817 Thu, 28 Aug 2014 12:51:28 GMT Cardiff turned into 'prison' for Nato conference next week http://implode-explode.com/viewnews/2014-08-28_CardiffturnedintoprisonforNatoconferencenextweek.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-54812 Wed, 27 Aug 2014 15:56:20 GMT It Begins: Council On Foreign Relations Proposes That "Central Banks Should Hand Consumers Cash Directly" http://implode-explode.com/viewnews/2014-08-27_ItBeginsCouncilOnForeignRelationsProposesThatCentralBanksShouldH.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-54802 Tue, 26 Aug 2014 03:06:10 GMT Hussman: Broken Links - Fed Policy and the Growing Gap Between Wall Street and Main Street http://implode-explode.com/viewnews/2014-08-25_HussmanBrokenLinksFedPolicyandtheGrowingGapBetweenWallStreetandM.html ... what sort of decision does the Fed's policy of suppressing interest rates encourage? Only those where the cost of funds is the primary cost of doing business: financial transactions. A few years ago, housing could be included as a major beneficiary of Fed-induced speculation not only among financial institutions but among ordinary investors. But that ship has sailed, crashed into the glacier, and sunk to the bottom of the deep blue sea. So what we now have is a financial sector amped up on more than four trillion tablets of amphetamine, and a real economic sector that remains at year-to-year growth rates that have historically marked the border between expansion and recession.

... Several factors contribute to the broad sense that something in the economy is not right despite exuberant financial markets and a lower rate of unemployment. In our view, the primary factor is two decades of Fed-encouraged misallocation of capital to speculative uses, coupled with the crash of two bubbles (and we suspect a third on the way)

...

The Federal Reserve's prevailing view of the world seems to be that a) QE lowers interest rates, b) lower interest rates stimulate jobs and economic activity, c) the only risk from QE will be at the point when unemployment is low enough to trigger inflation, and d) the Fed can safely encourage years of yield-seeking speculation -- of the same sort that produced the worst economic collapse since the Depression -- on the belief that this time is different. From the foregoing discussion, it should be clear that this chain of cause and effect is a very mixed bag of fact and fiction.

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iehi-feed-54801 Mon, 25 Aug 2014 16:23:52 GMT Doug Noland - Reflexivity, Bubbles and Profits http://implode-explode.com/viewnews/2014-08-25_DougNolandReflexivityBubblesandProfits.html iehi-feed-54800 Mon, 25 Aug 2014 16:10:51 GMT Dallas Fed Plunges, Biggest Miss In 16 Months As New Orders Collapse http://implode-explode.com/viewnews/2014-08-25_DallasFedPlungesBiggestMissIn16MonthsAsNewOrdersCollapse.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