Often I hear and read about the crises in the European Union, Ukraine, Russia, or Japan, but rarely hear about the unrest and crisis in Arabian monarchies, Venezuela, and the host of other oil exporting nations devastated by the crude oil price collapse. The major banks (institutional investors) would be excited at the feast of defaults as they claim ownership of public assets such as utility plants, manufacturing and infrastructure of impoverished nations, such as Venezuela and others. The governments in the world face a Sovereign Debt Crisis.
“It is not a Accident, it is Policy“.
That is how a “managed” global collapse would play out for the banksters benefit.
Everything is connected in this global Ponzi Economy and the People are facing government abuse.
Of course a military conflict would be even more profitable and icing on the money masters’ cake to implement and enforce their agreements, rules and policies while simultaneously war profiteering… ~Ron
China Plays Wildcard in Bets on Venezuela Bond Default
For debt investors betting Venezuela will default this year as oil slumps, there is one big wildcard that threatens to sink the trade: China.
The Asian nation, whose $3.9 trillion in foreign reserves are the world’s largest, has a history of lending out money to Venezuela, having doled out $45 billion over the past decade. […]
When President Nicolas Maduro headed out on an overseas trip last week in search of cash to shore up the reeling economy and help stave off default, China was his first stop. He spent four days there and left saying he had won pledges for $20 billion in new investment. Maduro needs money fast as the six-month, 56 percent plunge in oil has derivatives traders betting there’s a 75 percent chance that Venezuela will default in a year and 97 percent probability that it will happen within five years. –bloomberg.com
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Venezuela Just Had A ‘Let Them Eat Cake’ Moment
Speaking on a visit to Doha on Monday, President Nicolas Maduro stuck to the party line, blaming oil’s ruinous price plunge on the global capitalism “of the north.”
“The capitalism of the world of the north is trying to destroy OPEC, to control sources of energy, to destroy the just prices that we need and have been assimilated by the entire world,” said Maduro.
Read more: businessinsider.com
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Venezuela’s Maduro seeks support from Saudi Arabia on oil prices
Venezuelan President Nicolas Maduro met Saudi Arabia’s Crown Prince Salman in Riyadh on Sunday as part of a diplomatic tour of OPEC members to discuss falling oil prices, which have hit its economy hard.
The Saudi side in the meeting included Oil Minister Ali al-Naimi and several princes including Deputy Crown Prince Muqrin, intelligence chief Prince Khaled bin Bandar and three sons of King Abdullah, who is in hospital, state media reported.
[…]
The Venezuelan government said in a statement that “we agreed to work to recover the market and oil prices with state policies between the two energy powerhouses.” It provided no details.
Despite growing concern from Venezuela and other OPEC members such as Iran, OPEC delegates have said as recently as last week that the group’s core Gulf members remain committed to their decision not to curb output for now, choosing instead to defend market share and allow lower prices to slow output from growing rivals such as Canada’s oil sands and U.S. shale.
On Saturday fellow OPEC price hawk Iran said it would help cash-strapped Venezuela stem the price fall.
Maduro’ next stop will be in Qatar, followed by a visit to Algeria. –theglobeandmail.com
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RELATED:
Turbulent Storm Winds From Venezuela To Greece Sweeping Through E.U.
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Qatari billions to help Caracas withstand oil price fall
What promises and collateral is President Maduro offering for these Billions in loans?
http://www.stratfor.com/situation-report/venezuela-qatari-banks-will-provide-billions-president-said
Venezuelan President Nicolas Maduro said Qatari banks would grant Venezuela billions of dollars to help the … The Geopolitical Significance of Social Unrest.
Oil Production Increase Hinged On Increased Security!
ABU DHABI, Jan 13 (Reuters) – Austrian energy group OMV wants to boost its oil output from Yemen by half if conditions allow, a senior executive told Reuters on Tuesday.
Erwin Kroell, senior vice president for the Middle East and Caspian, said plans to raise production to 30,000 barrels per day from 20,000 on average now hinged on putting in place security measures to protect its assets and people.
– See more at: http://www.rigzone.com/news/oil_gas/a/136729/OMV_Aims_to_Boost_Yemen_Output_to_30000_BPD_if_Conditions_Allow
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Monetary Dilemma: Triffin Paradox
In October 1959, a Yale professor sat in front of Congress’ Joint Economic Committee and calmly announced that the Bretton Woods system was doomed. The dollar could not survive as the world’s reserve currency without requiring the United States to run ever-growing deficits. This dismal scientist was Belgium-born Robert Triffin, and he was right. The Bretton Woods system collapsed in 1971, and today the dollar’s role as the reserve currency has the United States running the largest current account deficit in the world.
READ: http://www.investopedia.com/financial-edge/1011/how-the-triffin-dilemma-affects-currencies.aspx
NOTE: Below is an excerpt from philosophyofmetrics.com
Reversing Bretton Woods
The Triffin Paradox, or dilemma, is defined by the pressure exerted upon a domestic currency when it is used as the global reserve currency. As the currency accumulates in the foreign reserve accounts of central banks around the world, it creates depreciation pressure on the home economy. The United States has exported this depreciation though exchange rate imbalances.
The preliminary framework of the multilateral system has been carefully constructed over the last few years with only IMF reform left on the table. The overt political tension which will soon surround these reforms and the deflation which is now taking place will soon merge into one socioeconomic paradigm which will push the international monetary system in the direction of the multilateral. http://philosophyofmetrics.com/2015/01/07/reversing-bretton-woods/
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Interesting Policies: transnational currencies
Interesting that Russia suggested the European Union end the trade agreements with the U.S. and join the Euroasian Union.
Lots of economic and geopolitical intrigue…
See:
http://www.thenewamerican.com/economy/item/19800-regional-currency-plots-advance-in-eurasia-and-south-america
http://philosophyofmetrics.com/2015/01/07/reversing-bretton-woods/
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Institutional Investors: Dark Pool & HFT
Jan 22, 2015
Joseph talks about the establishment of the first private “dark pool” for high frequency trading, bypassing the middlemen, and his high octane speculation on their reasons for doing so.
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Andy Hoffman: Central Banks to Lose All Credibility
Jan 22, 2015
Andy Hoffman, precious metals market analyst and media director at Miles Franklin (milesfranklin.com) joins us on Reluctant Preppers, in the wake of the Swiss Bank un-pegging its currency from the Euro, to warn us that 2015 will be a watershed year that will impact each of our financial lives in a big way!
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