Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-54845 Mon, 01 Sep 2014 16:47:16 GMT More Sanctions: Europe Will Ban Purchase Of Russian Bonds; However Russian Gas Exports Remain Untouched http://implode-explode.com/viewnews/2014-09-01_MoreSanctionsEuropeWillBanPurchaseOfRussianBondsHoweverRussianGa.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-54840 Sun, 31 Aug 2014 15:04:14 GMT Henry Kissinger on the Assembly of a (New) New World Order http://implode-explode.com/viewnews/2014-08-31_HenryKissingerontheAssemblyofaNewNewWorldOrder.html The clash between the international economy and the political institutions that ostensibly govern it also weakens the sense of common purpose necessary for world order. The economic system has become global, while the political structure of the world remains based on the nation-state. Economic globalization, in its essence, ignores national frontiers. Foreign policy affirms them, even as it seeks to reconcile conflicting national aims or ideals of world order.

This dynamic has produced decades of sustained economic growth punctuated by periodic financial crises of seemingly escalating intensity: in Latin America in the 1980s; in Asia in 1997; in Russia in 1998; in the U.S. in 2001 and again starting in 2007; in Europe after 2010. The winners have few reservations about the system. But the losers--such as those stuck in structural misdesigns, as has been the case with the European Union's southern tier--seek their remedies by solutions that negate, or at least obstruct, the functioning of the global economic system.

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For the U.S., [a new international order] will require thinking on two seemingly contradictory levels. The celebration of universal principles needs to be paired with recognition of the reality of other regions' histories, cultures and views of their security. Even as the lessons of challenging decades are examined, the affirmation of America's exceptional nature must be sustained. History offers no respite to countries that set aside their sense of identity in favor of a seemingly less arduous course. But nor does it assure success for the most elevated convictions in the absence of a comprehensive geopolitical strategy.

It looks like Kissenger is backing off the "hyperpower" model of American exceptionalism here. While he gives lip service to America's taken-for-granted "exceptional" nature, now this apparently must be balanced against "other region's histories, cultures and views of their security". That sounds a lot like... hmm... let us think... Russia. So it appears the international establishment might think the Russia-bashing has gone a bit too far... maybe there is concern about an imminent 2008-Georgia-esque rout looming...

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iehi-feed-54838 Sun, 31 Aug 2014 14:48:58 GMT Schaeuble Sees Draghi's Instruments for Growth Exhausted http://implode-explode.com/viewnews/2014-08-31_SchaeubleSeesDraghisInstrumentsforGrowthExhausted.html iehi-feed-54837 Sun, 31 Aug 2014 02:35:26 GMT Iraq conflict: Kurds 'recapture oilfields from IS' http://implode-explode.com/viewnews/2014-08-30_IraqconflictKurdsrecaptureoilfieldsfromIS.html iehi-feed-54836 Sun, 31 Aug 2014 02:33:50 GMT U.K. Wants EU to Block Russia From SWIFT Banking Network http://implode-explode.com/viewnews/2014-08-30_UKWantsEUtoBlockRussiaFromSWIFTBankingNetwork.html iehi-feed-54835 Sun, 31 Aug 2014 02:32:32 GMT Oil tanker with $100 million Kurdish cargo goes missing off Texas coast http://implode-explode.com/viewnews/2014-08-30_Oiltankerwith100millionKurdishcargogoesmissingoffTexascoast.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.

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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-54830 Fri, 29 Aug 2014 17:39:01 GMT Japan economy stalls as incomes, spending languish http://implode-explode.com/viewnews/2014-08-29_Japaneconomystallsasincomesspendinglanguish.html iehi-feed-54828 Fri, 29 Aug 2014 17:32:07 GMT The Buyback Party Is Over; Market Running on Fumes - Albert Edwards http://implode-explode.com/viewnews/2014-08-29_TheBuybackPartyIsOverMarketRunningonFumesAlbertEdwards.html iehi-feed-54825 Fri, 29 Aug 2014 01:25:22 GMT ​From Minsk to Wales, Germany is the key on Ukraine Conflict - Pepe Escobar http://implode-explode.com/viewnews/2014-08-28_FromMinsktoWalesGermanyisthekeyonUkraineConflictPepeEscobar.html iehi-feed-54824 Thu, 28 Aug 2014 17:09:13 GMT How The Coming Silver Bubble Will Develop - Ted Butler http://implode-explode.com/viewnews/2014-08-28_HowTheComingSilverBubbleWillDevelopTedButler.html 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."

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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."

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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-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-54816 Wed, 27 Aug 2014 17:13:37 GMT U.S. economy forecast to grow by only 1.5 percent in 2014 http://implode-explode.com/viewnews/2014-08-27_USeconomyforecasttogrowbyonly15percentin2014.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-54814 Wed, 27 Aug 2014 16:49:12 GMT State Department agrees to try looking for gold records again, on GATA Appeal http://implode-explode.com/viewnews/2014-08-27_StateDepartmentagreestotrylookingforgoldrecordsagainonGATAAppeal.html 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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