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Blowback Begins: EU To Ditch Dollar In Payments For Iranian Oil

Blowback Begins: EU To Ditch Dollar In Payments For Iranian Oil thumbnail

The dollar’s collapse is nearing.  The European Union is planning to switch it’s payments to the Euro for its oil purchases from Iran, eliminating United States dollar transactions. Just one more nail to the US dollar’s coffin.  Its collapse is all but imminent at this point. The EU has successfully found a way to scoff at potential […]

The Pentagon Can’t Account for $21 Trillion

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Twenty-one trillion dollars. The Pentagon’s own numbers show that it can’t account for $21 trillion. Yes, I mean trillion with a “T.” And this could change everything. But I’ll get back to that in a moment. There are certain things the human mind is not meant to do. Our complex brains cannot view the world […]

Gearing Up for the Third Gulf War

Public Policy

Will Washington, Tel Aviv, Riyadh, and Tehran Face Off in a Future Cataclysm? With Donald Trump’s decision to shred the Iran nuclear agreement, announced last Tuesday, it’s time for the rest of us to start thinking about what a Third Gulf War would mean. The answer, based on the last 16 years of American experience […]

Iran Sanctions Threaten The Petrodollar

Public Policy

One country must be quite pleased with the prospect of new U.S. economic sanctions against Iran’s oil industry, and this country is the largest oil importer in the world, and is Iran’s largest single oil client. When China launched its long-awaited yuan-priced oil futures last month, it did so as part of its strategy to […]

Kunstler: Lousy Deals and Turning Wheels

Public Policy

In that long ago yesteryear of 1979, before blogging, tweeting, twerking, hacking, posting, ghosting, doxing, and all the other Internet-enabled compulsions of the present day, a gang of inflamed young men, said to be students, invaded the US embassy compound in Teheran and took fifty-two American embassy personnel hostage — crossing an age-old line of […]

Beijing backs off in South America

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Beijing’s investment in the region is shifting from oil and other commodities to services Latin America’s commodities boom has faded, and with it has gone much of the Chinese oil financing that fuelled the good times. In the decade before the 2014 oil-price crash, Beijing pumped tens of billions of dollars into the region through […]

Trump Has Options If Oil Market Panics About Iran

Public Policy

Oil markets have so far reacted to President Donald Trump’s decision to withdraw from the 2015 Iran nuclear deal without either enthusiasm or panic — without even much apparent interest. There are many good reasons for this, but also many reasons to think oil markets’ complacency could change. Fortunately, the Obama-era sanctions that Trump has moved […]

Oil, $ Surge= Wage, Farm Crisis

Public Policy

The world economy is in turmoil as crude touches a high (since 2014) in the wake of US rejection of the Iran nuclear deal. The Rupee is on a roll to touch one of the lowest marks against a surging dollar, a phenomenon that occurs for the eleventh time since 1983. Undeniably, inflation is set […]

Israel launched a barrage of airstrikes on 50 Iranian targets in Syria — a massive escalation that could lead to all-out war

Public Policy

Israel launched dozens of strikes on Syria in a massive retaliation on Iran. The Israeli Defense Forces (IDF) said fighter jets took down “dozens” of Iranian military targets. IDF claimed its airstrikes hit Iranian intelligence facilities, logistic headquarters, observation posts, weapon storage facilities, and a vehicle used to launch rockets into Israeli territory. The strikes […]

It’s No Wonder Iranians Hate America

Public Policy

“Everyone wants to go to Baghdad. Real men want to go to Tehran.” So a senior British official was quoted as saying to Newsweek in 2002, witnessing the competitive bellicosity in the Bush administration’s runup to the war in Iraq. This week President Donald Trump asserted his claim to be a real man as he […]

Buyers Seek US Waivers to Buy Iranian Oil Amid New Sanctions

Public Policy

South Korea said on Wednesday it would seek U.S. exemptions to buy Iranian oil, a path many big oil consumers are likely to follow in the wake of new U.S. sanctions on Tehran, which will tighten world oil markets and push up prices. Iran is the third-largest oil producer in the Organization of the Petroleum […]

Trump “Committed To Regime Change” In Iran: Giuliani

Public Policy

President Donald Trump is committed to regime change in Iran, said Rudy Giuliani, Trump’s newest controversial attorney (although perhaps not for long) and longtime informal advisor. Speaking to reporters after a Saturday keynote to the Iran Freedom Convention for Democracy and Human Rights in Washington, Giuliani said “We got a president who is tough, who does not […]

Tree sitters rally against natural gas pipelines

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Dozens of people joined Theresa “Red” Terry and her daughter “Minor” Terry for a solidarity rally to protest against the construction of the Mountain Valley and Atlantic Coast pipelines on the Downtown Mall on Monday afternoon. The rally was part of a movement by progressive community organizations demanding Governor Ralph Northam keep his promises to […]

How The World Reacted To Trump’s Withdrawal From The Iran Nuclear Deal

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One day after Trump announced he will withdraw the US from Obama’s landmark 2015 deal to curb Iran’s nuclear program while reinstating the “harshest of sanctions” on the Persian Gulf country, and giving US allies 180 days to extricate themselves from Iranian oil deals as it seeks to economically isolate and curb oil exports from […]

Trump decides to exit nuclear accord with Iran

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President Donald Trump plans to follow through on his campaign threat to pull out of the landmark nuclear accord with Iran, according to two people familiar with his thinking, dealing a profound blow to U.S. allies and potentially deepening the president’s isolation on the world stage. Trump’s decision means Iran’s government must now decide whether […]

Yemeni Rebels Begin Attacking Saudi Oil Infrastructure: You Know What That Means

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The Houthi rebels in Yemen, officially known as Ansurallah, have vowed to intensify rocket attacks on Saudi Arabia’s critical oil infrastructure, warning that they are now manufacturing their own ballistic missiles to achieve those aims, the Financial Times reports. The threat comes at a time when Houthi attacks on Saudi Arabia have begun to increase. […]

UK to ban most hybrid cars, including Prius, from 2040

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Hybrid cars that rely on traditional engines, such as the Toyota Prius, would be banned by 2040 under plans being drawn up by the UK government that would outlaw up to 98 per cent of the vehicles currently on the road. Vehicles such as the Prius — the best-selling hybrid car in Britain — will […]

Kunstler: The Horsefly Cometh

Public Policy

You can see where this Mueller thing is going: to the moment when the Golden Golem of Greatness finally swats down the political horsefly that has orbited his glittering brainpan for a whole year, and says, “There! It’s done.” It suggests that Civil War Two will end up looking a whole lot more like the […]

So About that “Tomorrow’s Economy”…

Public Policy

Are you for building a “resilient infrastructure for tomorrow’s economy”? Me too! Or #MeToo. This new political idea is being fertilized with this dogmatic article of faith: “It is critical we take strong and comprehensive action to protect all Californians from the threat of natural disasters and climate change” – Joint statement of Governor Edmund […]

Iran expects U.S. to walk away from nuclear deal

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Saying the United States is likely to walk away from a U.N.-backed nuclear agreement next week, OPEC-member Iran said it was making budget preparations. U.S. President Donald Trump needs to decide by May 12 whether to issue sanctions waivers to Iran. If he doesn’t, it would counter the U.N.-backed nuclear agreement that opens trade doors […]

Saudi Arabia needs oil at $85 a barrel to balance budget

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Moody’s rates Saudi Arabia as A1 stable, with a strong fiscal position and significant liquidity buffers While a new Moody’s Investors Services says that Saudi Arabia’s credit outlook is stable and buffered by a strong fiscal position, the International Monetary Fund’s regional director believes that that the kingdom needs oil prices to be at least […]

Collusion: How Central Bankers Rigged the World’

Public Policy

THE BREXIT EFFECT Prospects for the first post-Brexit G20 meeting were bright for China. The September meeting was a major step toward a reorganization of European cooperation. Concerns about currency markets increased with Brexit in regard to volatility, a rise of protectionism, and more conjured-money policies, as was evident by the Bank of England cutting […]

Netanyahu: Iran Nuclear Deal Is Based on Lies – Here’s the Proof

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‘Iran did not come clean on its nuclear program,’ Netanyahu says, saying more than 100,000 Iranian documents Israel obtained prove nuclear ‘deal is based on lies’ ■ Speech comes on heels of strike against two bases in Syria and ahead of Trump’s decision on nuclear deal Noa Landau    ZenIsraeli Prime minister Benjamin Netanyahu speaks […]

Saudi Arabia downs Yemeni rebel missile

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A scene from a video issued by Yemen’s Huthi rebels on March 27, 2018 shows what appears to be Huthi military forces launching a ballistic missile on March 25 from the capital Sanaa (AFP Photo/-) Riyadh (AFP) – Saudi Arabia said its air defences on Friday intercepted a missile fired by Yemeni rebels, days after […]

The human cost of fossil fuels

Public Policy

We should account for the costs of disease and death from fossil fuel pollution in climate change policies Buildings and houses are covered with a thick haze in Seoul, South Korea in February 2014. Photograph: Ahn Young-joon/AP While the climate policy world is littered with numbers, three of them have dominated recent discourse: 2, 1000, […]

Noam Chomsky On Trump And The Future Of US Politics

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Just how bad are things with Donald Trump in the White House? And what does having a racist, misogynist, xenophobic and erratic president who continues to enjoy unquestionable support from his base tell us about the state of US politics and the dangers to the future of democracy in the US and in the world […]

The One Man Who Could Send Oil To $100

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The future of North Africa’s leading oil and gas producer Libya is once again under threat. International media reports that Libya’s strongman General Khalifa Haftar, leader of the LNA, the largest and strongest military power in the country, has had a stroke. Libyan and Arab news sites stumble over each other predicting the death or […]

Kunstler: Stop and Assess

Public Policy

America has become Alzheimer Nation. Nothing is remembered for more than a few minutes. The news media, which used to function as a sort of collective brain, is a memory hole that events are shoved down and extinguished in. An attack in Syria, you ask? What was that about? Facebook stole your…what? Four lives snuffed […]

The global village and the surveillance society

Public Policy

Media savant Marshall McLuhan coined the term “global village” in 1962 in his book The Gutenberg Galaxy. Today, we take the concept of an electronically connected global population with instant access to practically every plugged-in person on the planet as a fact of life. We often see our global village as a force for good, […]

Iran switches from dollar to euro

Public Policy

Iran’s feud with the US is set to get worse after Tehran announced yesterday that it will start reporting foreign currency amounts in euros rather than US dollars, as part of the country’s effort to reduce its reliance on the American currency due to political tension with Washington. Central bank governor Valiollah Seif said last […]

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