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19 October 2017

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Farmer Don

The end of the PetroDollar comes from China also. China is now the Saudi's biggest customer. China wants to pay in it's own currency, and,"The customer is always right".

The Russian central bank now has more reserves in Gold than the US$. The US has been using the SWIFT system to punish Iran so now China and Russia have created a work-around. China, Russia, Iran and Turkey all view gold as a means to side step the US monetary system. Saudis love Gold also. To top it off Germany now has become the worlds largest gold importer. Europe is tired of paying the biggest price for US pushed sanctions of Russia.

The world listens when Putin says "Every where the US goes, turns to shit"

End of Rant.
FD

Walker

Man, this is good stuff. I really appreciate the quality of commentators here.

Castellio

Meanwhile, in Ottawa, the Ukrainian Canadian Congress is calling for "specialized sanctions units" in the Departments of Global Affairs and Finance.

From their press release dated today: "Upon the adoption of the Magnitsky Act, the Honourable Chrystia Freeland, Canada's Minister of Foreign Affairs, stated, "Canada has a strong reputation around the world as a country that holds clear and cherished democratic values and stands up for human rights. This new law, which has received cross-partisan support in Parliament, is a clear demonstration that Canada takes any and all necessary measures to respond to gross violations of human rights and acts of significant foreign corruption."

"The UCC calls on the Government of Canada to:
Move swiftly to implement sanctions against Russian judges, prosecutors, investigators and other officials responsible for the illegal imprisonment and maltreatment of Ukrainian citizens;
Establish specialized sanctions units at the Departments of Global Affairs and Finance in order to ensure that sanctions are implemented effectively and comprehensively."

There seems to be no way to stop Canada eagerly following America's failed strategy in relation to Russia. In the long run, the diaspora Ukrainians are doing themselves no favours.


Seamus Padraig

Petr Pavlenskiy? Yeah, I remember who he is. He's 'Scrotum Boy': https://en.wikipedia.org/wiki/Petr_Pavlensky#Fixation

J

It appears that D.C. is trying to apply the same tactic they used to implode the former Soviet Union, applying the same principle to both the current Russian Federation and China. In essence forcing them to spend more than they have to build up their military machine in the process bankrupting themselves into oblivion.

Lyttenburgh

"Paris granted him asylum after he was fined for setting a fire at the FSB headquarters in Moscow. Does "protest art" in Russia become arson in France?"

Oh, his latest "performance" is so passe! What good artist starts to repeat oneself so... unoriginally? He should have at least nail his scrotum to the gates ofthe Bank.

For hearty laugh - contrast and compare the prevalent silence from all major MSM ignoring this... "street art performce"... with the tearful hossannas to the artistic genius of one Piotr Pavlensky by them back then: https://www.theguardian.com/artanddesign/jonathanjonesblog/2015/nov/09/pyotr-pavlensky-is-setting-russias-evil-history-ablaze

No, really - the Franch ought to appreciate Pavlensky's "art"! They also have no right to talk back, being, after all, forever stained by Robespierre's Le Terror, and Vichy France's secret police (what's good for the goose is good for the gander, am I right?)/s

Donald

Agreed.

elaine

Don, Please explain why today's spot gold charts/prices & bullion sales
aren't reflecting a big dive into gold. Even GLD isn't jumping for joy &
the miners' stocks are in a lull.

When do you anticipate a sizable uptick in the glittering commodity?
If the PetroDollar is on its last legs as you say it should be soon.
Perhaps in my quick perusal of the gold markets I missed something.

johnf

Agreed.

You know instinctively the MSM is serving you up in shit, but this gives you chapter and verse.

Thank you, Patrick.

Adrestia

The end of the PetroDollar comes from China also. China is now the Saudi's biggest customer. China wants to pay in it's own currency, and,"The customer is always right".The end of the PetroDollar comes from China also. China is now the Saudi's biggest customer. China wants to pay in it's own currency, and,"The customer is always right".

https://www.ft.com/content/42b521c0-b028-11e7-beba-5521c713abf4?mhq5j=e5

Aramco, the Saudi national oil company is planned to become a public listed company. It is not certain if this will happen when China might buy (part) of Aramco.

https://www.bloomberg.com/news/articles/2017-10-19/cefc-china-quashes-speculation-aramco-ipo-could-be-next-target

However. it is also possible that the Chinese will not buy. Today the Chinese bought a share of Rosneft (which has German ex-chancellor Schroder as CEO) and said they were not interested in Aramco now.

The latter could off course be a diversionary statement to hide their real intentions.

It is also worth reading the speech referred to in THE QUOTE OF THE DAY above.
http://en.kremlin.ru/events/president/news/55882

IMO it presents a clear insight in the future (and the past) according to Putin.

English Outsider


Seconded. The Colonel and his Committee do us proud. But what a mass of media sludge they're up against.

JJackson

It may have worked against the Soviet economy but I suspect the bankruptcy would be the US's if they take on China and the Russians - they spend smarter and can play the long game. This is a very different world even if some inside the beltway bubble are unable, or unwilling, to see it.

Farmer Don

As long as the stock and bond markets are doing well, & people perceive inflation as low, the huge majority of investors are not interested in gold.
The central bankers I mentioned are happy to accumulate it at a reasonable cost.
China is also busy buying up miners world wide, and has increased mining capacity in China to make it the world's largest producer. They are also looking to partner in new mines along their silk road project.
The British Pound went down over years, the same may happen with US$.
The US is still sitting on a fair amount of gold, about 8000 tons
Here in Canada, our central bank doesn't even own gold anymore, it is so sure everything is going to be just fine.

JamesT

J

I disagree - I think China is actually doing this to the USA. Just as Paul Kennedy describes in The Rise and Fall of the Great Powers. Putin has learned his lesson and is being careful not to overreach. China is being careful to avoid getting sucked into wars, is concentrating its spend on R&D, and has only one military base abroad. The US has *thousands* of military bases around the world to pay for annually, treaty and informal obligations to numerous countries, is currently fighting wars in 3 different countries, and the neocons are chomping at the bit to start another war with Iran.

China's GDP is currently greater than that of the US compared on a "purchasing power parity" basis, and is growing much faster. Those idiot neocons have the US overextended.

charly

Schroder is on the board of Rosneft but he is not the CEO

Anna

Chrystia Freeland, following the steps of her profiteering grandpa, has no shame. It seems that Canada has an unordinary large numbers of pro-Nazi Ukrainian progeny, hence the astonishing tolerance towards the liar. http://us-russia.org/4678-chrystia-freelands-family-record-for-nazi-war-profiteering-and-murder-of-the-cracow-jews.html
"A Nazi Skeleton in the Family Closet:" https://consortiumnews.com/2017/02/27/a-nazi-skeleton-in-the-family-closet/
"Mykhailo Chomiak was not a victim of the war – he was on the side of the German aggressors who collaborated with Ukrainian nationalists in killing Russians, Jews, Poles and other minorities. Former journalist Freeland chose to whitewash her family history to leave out her grandfather’s service to Adolf Hitler. Of course, if she had told the truth, she might never have achieved a successful political career in Canada. Her fierce hostility toward Russia also might be viewed in a different light."

Anna

Cannot wait when Pussy Riot bunch show their art at some Methodist church or at a synagogue in DC.

SmoothieX12

The latter could off course be a diversionary statement to hide their real intentions.

Bigger than ARAMCO IPO things are happening between Russia and China, such as CR-929. That will have a major impact in aerospace, granted Chinese colossal aircraft market.

turcopolier

Sid Finster

You really are fucking annoying with the Deep State nonsense. Let me see if I get this right. You think all the power centers in the US are a grand conspiracy. Do you have any evidence of that? Have you ever worked in the federal government? pl

Richardstevenhack

Meanwhile, the "Russiagate" nonsense continues to evaporate...

The Saker has a piece on Russian counter-propaganda which basically says Russia doesn't need it - the West is its own worst enemy...

Re-visiting Russian counter-propaganda methods
http://thesaker.is/re-visiting-russian-counter-propaganda-methods/

The alleged "Kremlin trolls" in social media that the mainstream media have been babbling about turn out to be FSB and former FSB Russian officials...who were being paid by the CIA...and arrested as CIA spies by Russia...

A Brief History of the “Kremlin Trolls”
http://thesaker.is/a-brief-history-of-the-kremlin-trolls/

J

Like I said, D.C. is 'trying' to apply their same tactic, which will fail this time. I agree with you regarding both China and today's Russian Federation. Both are led by shrewd tacticians.

aleksandar

Does USA have the right to talk back ? No, forever stained by Mc Carthy and Salem witches.
Does Germany have the right to talk back ? No, forever stained by Hitler and the Teutonic knights.
Does GB have the right to talk back ? No, forever stained by Cromwell and Irish genocide.
And so, and so.
I wonder if you even understand that your comment is utterly stupid ?

Lyttenburgh

"I wonder if you even understand that your comment is utterly stupid ?"

And I wonder whether:

1) You read my comment at all.

2) Noticed "/s" at the end of it.

3) You are aware of you being a prime example of the Poe law.

FB Ali

Patrick,

In a comment on another thread, I referred to the latest post you have up on your site, How I got here. Pat Lang replied to my comment by saying that he'd also read your post, and that you were welcome to repost it on SST.

I think that would be a good idea, since it will allow all the readers who visit SST to also read it.

Pat's comment is at: http://tinyurl.com/ybgn56sm

Patrick Armstrong

OK will do. Off to bore my neighbours but will post tomorrow (if I survive). In the meantime let me plug the book which has a number of "how I got here" stories. Most of them a reaction to the ludicrously one-sided coverage of things which set them to looking elsewhere. (Not, I think, unusual journey for people on this site)
https://www.amazon.com/Putins-Praetorians-Confessions-Kremlin-Trolls-ebook/dp/B076SS88CP/

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