Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-60724 Fri, 23 Sep 2016 15:13:46 GMT Saudis Said to Have Offered to Cut Oil Output; No Deal Reached http://implode-explode.com/viewnews/2016-09-23_SaudisSaidtoHaveOfferedtoCutOilOutputNoDealReached.html Saudi Arabia, the world's largest oil exporter, told Iran it would be willing to reduce its output -- which is close to a record 10.7 million barrels a day -- if its regional rival were to cap production at 3.6 million, according to two people familiar with the matter, who asked not to be identified because the talks were private. Other proposals were also discussed by oil officials from the countries at the headquarters of the Organization of Petroleum Exporting Countries in two-day talks that ended Thursday without a deal, one of the people said.

Oil-producer meetings from Vienna and Paris to Moscow have attempted to reach a consensus before talks in the Algerian capital next week.

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iehi-feed-60709 Wed, 21 Sep 2016 22:32:41 GMT Yellen Rebuffs Pressure to Hike as Fed "Gives Economy Room to Run" http://implode-explode.com/viewnews/2016-09-21_YellenRebuffsPressuretoHikeasFedGivesEconomyRoomtoRun.html Federal Reserve Chair Janet Yellen braved mounting opposition inside and outside the U.S. central bank and delayed an interest-rate increase again to give the economy more room to run.

While agreeing that the case for a rate rise had strengthened, Yellen on Wednesday argued that it made sense to put off a move for now amid signs that discouraged Americans who dropped out of the labor market are returning and looking for work.

Look at that; the Fed found an excuse... quelle suprise!! Gold and silver blasted off in response (and if there was less manipulation, they'd be up considerably more, just to preserve their pre-hike-headfake momentum...)

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iehi-feed-60707 Tue, 20 Sep 2016 14:03:45 GMT Chinese farmers take over former white-owned farms in Zimbabwe to cash in on tobacco http://implode-explode.com/viewnews/2016-09-20_ChinesefarmerstakeoverformerwhiteownedfarmsinZimbabwetocashinont.html Farms that were badly managed for nearly 20 years, after Robert Mugabe's mass seizure of white-owned land, are now being worked again in the hope of reaping a  potentially huge reward.

At least five farms have attracted Chinese investment in Mashonaland Central, a region to the north-west of Harare, that was traditionally one of the country's best tobacco-producing areas.

Safe in the knowledge that Mr Mugabe's policy of strengthening ties with China will offer a degree of protection, they have poured money into machinery and are taking advice from international experts.

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iehi-feed-60701 Mon, 19 Sep 2016 20:50:57 GMT Oil Investors Flee as OPEC Freeze Hopes Face Supply Reality http://implode-explode.com/viewnews/2016-09-19_OilInvestorsFleeasOPECFreezeHopesFaceSupplyReality.html iehi-feed-60690 Sun, 18 Sep 2016 17:47:57 GMT China Not Delivering on Economic Reform Promises As Excess Capacity Looms http://implode-explode.com/viewnews/2016-09-18_ChinaNotDeliveringonEconomicReformPromisesAsExcessCapacityLooms.html "We remain highly skeptical that there is any real underlying change to the way heavy industries are operating and believe that the margin recovery in steel, in particular, is largely due to better demand from stimulus, rather than supply-side reforms," investment bank Macquarie wrote in a note. The goal of the reform is to close down excess capacity in steel and coal, for example, and make Chinese producers more efficient.

... while a significant amount of capacity has been closed so far in 2016, it is far below target. According to the National Development and Reform Commission (NDRC), producers reached only 38 percent of their coal capacity and 47 percent of their steel capacity target cuts.

For example, Hebei Province was supposed to close down 18.4 million tons of steel-producing capacity in 2016. By the end of July, it had only closed down 1.9 million tons, according to Goldman Sachs.

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iehi-feed-60679 Sat, 17 Sep 2016 01:39:26 GMT Sorry, You Can't Have Your Gold - Jeff Thomas http://implode-explode.com/viewnews/2016-09-16_SorryYouCantHaveYourGoldJeffThomas.html There are many, many more examples already, but these should suffice to illustrate the growing trend: If you wish to get your money or metals out of an endangered jurisdiction, such as an EU country or North America, the window of opportunity is closing. Expect them to make it difficult, costly and even impossible for you to get out.

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As the economic crisis gets ever-closer, they understand that the day will soon come when a banking emergency is declared and the banks will shut their doors for an as-yet unknown period of time (presumably until a solution is found). What will the new rules be? No one knows. Will the banks and storage facilities be obligated to deliver in full, if the doors open once again? No one knows.

Therefore, in the final stretch of this race to the bottom, they want to be holding as much of your money and metals as they can.

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iehi-feed-60671 Thu, 15 Sep 2016 04:29:34 GMT Why the Fed Can't Hold the Stock Market Together Much Longer http://implode-explode.com/viewnews/2016-09-15_WhytheFedCantHoldtheStockMarketTogetherMuchLonger.html iehi-feed-60654 Tue, 13 Sep 2016 03:00:33 GMT US Shale Production Was a Fed-Floated Sham That Is Now Bust http://implode-explode.com/viewnews/2016-09-12_USShaleProductionWasaFedFloatedShamThatIsNowBust.html Do you folks see the writing on the wall here?  The Bakken down 25% and the Eagle Ford down 40%.  These are not subtle declines.  This is much quicker than the U.S. Oil Industry or the Mainstream Media realize.

... [plus] with all the effort and high oil prices from 2011-2014 (first half of 2014), the energy companies producing shale oil in the Bakken are in the hole for $32 billion. Well done.... hat's off to the new wonderful fracking technology.

... the $36 billion in total cumulative debt will occur by June 2017. Thus, it would take an average $65 a barrel to just pay back the debt in seven years. With the way things are going in the U.S. and world economies, I doubt we are going to see much higher oil prices.

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iehi-feed-60628 Fri, 09 Sep 2016 15:12:53 GMT Coal Rises From Grave to Become One of Hottest Commodities http://implode-explode.com/viewnews/2016-09-09_CoalRisesFromGravetoBecomeOneofHottestCommodities.html iehi-feed-60626 Fri, 09 Sep 2016 15:09:31 GMT Iran may have received up to $33.6B in cash, gold payments from US http://implode-explode.com/viewnews/2016-09-09_Iranmayhavereceivedupto336BincashgoldpaymentsfromUS.html iehi-feed-60613 Tue, 06 Sep 2016 14:24:28 GMT Saudi Arabia Said to Weigh Canceling $20 Billion of Projects http://implode-explode.com/viewnews/2016-09-06_SaudiArabiaSaidtoWeighCanceling20BillionofProjects.html iehi-feed-60612 Tue, 06 Sep 2016 14:17:32 GMT Why Central Banks Are Quietly Loading Up on Gold Shares http://implode-explode.com/viewnews/2016-09-06_WhyCentralBanksAreQuietlyLoadingUponGoldShares.html iehi-feed-60605 Sun, 04 Sep 2016 22:09:29 GMT Furious Venezuelans Chase Away President Maduro With Pots And Pans http://implode-explode.com/viewnews/2016-09-04_FuriousVenezuelansChaseAwayPresidentMaduroWithPotsAndPans.html It is extremely unusual to see Maduro openly booed. His public appearances are normally carefully choreographed to show only cheering red-shirted supporters, Reuters adds. "The people loathe him and last night they made that very clear with the pots-and-pans protest," exulted opposition leader Henrique Capriles, who published three videos of the incident on his Twitter feed.

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Meanwhile, buoyed by Thursday's self-styled "Takeover of Caracas" grand protest, the opposition are planning further street actions to demand a recall referendum against Maduro this year. But with the election board dragging out the process and Maduro vowing there will be no such vote in 2016, it is hard to see how the opposition can force it. Which likely means that any upcoming regime change will be violent, as Maduro - and the army to whom he has effectively all but handed over power - have left the millions of angry, starving Venezuelans no peaceful alternative.

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iehi-feed-60596 Sun, 04 Sep 2016 02:00:27 GMT The Global Run On Physical Cash Has Begun: Why It Pays To Panic First http://implode-explode.com/viewnews/2016-09-03_TheGlobalRunOnPhysicalCashHasBegunWhyItPaysToPanicFirst.html iehi-feed-60582 Thu, 01 Sep 2016 22:28:00 GMT Deutsche Boerse Can't Specify A Location Where Xetra Investors Can Withdraw Physical Gold http://implode-explode.com/viewnews/2016-09-01_DeutscheBoerseCantSpecifyALocationWhereXetraInvestorsCanWithdraw.html iehi-feed-60576 Thu, 01 Sep 2016 16:02:57 GMT Tired of cheap oil, Saudis eye price boost to drive Aramco IPO http://implode-explode.com/viewnews/2016-09-01_TiredofcheapoilSaudiseyepriceboosttodriveAramcoIPO.html Outwardly, there is no sign yet of a definite change in policy. But behind the scenes, Saudi Arabia has been working towards boosting prices, rather than leaving that job to market forces.

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In Vienna, Falih floated a number of ideas in private meetings on how best to manage the supply glut, and questioned independent OPEC analysts during separate meetings as to the possible price impact of a production freeze or even a cut.

At private talks with the Nigerian oil minister before the June 2 OPEC meeting, Falih was willing to revive the idea of a production freeze while showing more tolerance towards Iran, which is raising output post-sanctions, sources said.

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The Saudis "want higher oil prices for a better Aramco valuation", one industry source said, adding that some think Aramco could be valued as high as $4 trillion.

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iehi-feed-60575 Thu, 01 Sep 2016 15:59:17 GMT Japan woos Russia with deeper economic ties in face of rising China http://implode-explode.com/viewnews/2016-09-01_JapanwoosRussiawithdeepereconomictiesinfaceofrisingChina.html iehi-feed-60572 Thu, 01 Sep 2016 02:24:51 GMT Deutsche Bank Welches on Delivery Of Physical Gold For Sponsored Exchange-Traded Fund http://implode-explode.com/viewnews/2016-08-31_DeutscheBankWelchesonDeliveryOfPhysicalGoldForSponsoredExchangeT.html iehi-feed-60568 Wed, 31 Aug 2016 17:28:12 GMT China's Biggest-Ever Metals Deal Snaps Up Cleveland's Aleris http://implode-explode.com/viewnews/2016-08-31_ChinasBiggestEverMetalsDealSnapsUpClevelandsAleris.html China's influence in global metals markets just stepped up a gear after the owner of its top supplier of aluminum products agreed to buy Aleris Corp. of the U.S. for $2.3 billion, marking the nation's biggest-ever overseas purchase of a metals processor.

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China Zhongwang is Asia's biggest producer of extruded aluminum, and already has ambitions to sell aluminum sheet to China's emerging auto and aerospace industries. It's due this year to start up a flat-rolled aluminum plant in Tianjin, near Beijing, which will supply products that China still has to import.

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iehi-feed-60545 Mon, 29 Aug 2016 14:44:51 GMT Chinese Endgame: Gold for SDR and Blockchain for Trade? http://implode-explode.com/viewnews/2016-08-29_ChineseEndgameGoldforSDRandBlockchainforTrade.html