Saudi Arabia said on Monday it wanted to keep crude oil prices at around $100 (U.S.) a barrel, the first time the kingdom has targeted a “triple-digit” price and a quarter above the previous ambition of $75 suggested by King Abdullah in November 2008.
Riyadh needs higher oil prices to sustain the big public rises in public spending it plans in an effort to forestall the political unrest sweeping the Middle East. King Abdullah has already announced two populist programs of handouts and boost to public spending.
The policies, at a total cost of $129-billion - equal to more than half the country’s oil revenues last year - vary from one-off bonuses for public sector workers to the promise of half a million homes at affordable prices. But the largesse failed to satisfy activists who were angry that the package of measures did not include political reforms.
The Institute of International Finance, a leading banking group, estimates that the break-even oil price the kingdom requires to balance its budget will jump from $68 last year to $110 in 2015. Only a decade ago Saudi Arabia was able to balance its budget with oil prices averaging $20-$25. In spite of high oil prices and production, Saudi Arabia has suffered a fiscal deficit for the last three years in a row.
Jawda, a Riyadh-based investment house, estimates that the kingdom’s fiscal expenditure would grow by 19 per cent this year, the biggest annual hike since 2006.
http://www.theglobeandmail.com/report-on-business/international-news/global-exchange/financial-times/saudis-target-triple-digit-oil-price-for-the-first-time/article2304075/
måndag 16 januari 2012
Greece default
Listening to what Moritz Kraemer, managing director of European sovereign ratings at Standard & Poor's says in this Bloomberg interview, to me at least is really sounds as now its all about trying to get Greece in an orderly default, not if a default not is about to happen. So Greece will dafault question then is justy how orderly it will be.
http://www.bloomberg.com/video/84347932/
http://www.bloomberg.com/video/84347932/
Linde CEO says Germany should mull euro exit-paper
Germany should consider leaving the euro if efforts to impose fiscal discipline upon indebted euro zone countries fail, the head of industrial gases firm Linde (LING.DE) told German weekly paper Der Spiegel.
If we do not succeed in disciplining crisis countries, Germany needs to exit," said Reitzle who was previously a board member at carmaker BMW (BMWG.DE) and head of Jaguar and Land Rover.
Reitzle said the euro zone is unlikely to break up completely but Greece is not in a position to service its debt.
"The country is not in a position to restructure itself in such a way that it can remain in the currency union," Reitzle said.
http://in.reuters.com/article/2012/01/15/eurozone-linde-idINDEE80E07Z20120115
Greece will default – as it should. The bondholders will get roasted – as they should – for making bad investments.
The laws of capitalism will be allowed to do their thing. Debtors and creditors will pay – as they both should – with both parties sharing the cost.Whether this leads to Greece being pushed out of the euro remains to be seen.
An opportunistic play by a desperate Greek government might be a total default, followed by the reintroduction of a new currency and then the restart button is hit. Initially, it would be an international pariah, but over time it would recover.
You might think it sounds radical, but it is straight from the IMF’s own adjustment handbook. In fact, the favoured IMF remedy to debt crises is partial/agreed default, followed by a rapid devaluation of the currency, which is then fixed at a new, much lower level.
The more aggressive approach is simply an amplified version of what is likely to happen anyway. The present policy calls for an internal devaluation plus some default. Why not an explicit external devaluation with total default, which gets you to the same place but a lot more quickly?
One of the reasons why there will be huge opposition in Europe to the Greeks going down this road is because it means the banks that lent money to Greece would get nothing or very little.On the other hand, internal devaluation would mean that they would take a haircut and then slowly bleed Greece dry for the rest of the money. But when you think about Greece’s position, this makes no sense. Greece has a current account deficit of ten per cent of GDP.
This means it must borrow an amount equal to nearly ten per cent of its GDP to pay for its current level of imports. If yet more money goes abroad to feed interest payments for foreign banks, it will have to borrow yet more just to make its current account balance. This is why getting the biggest default now must look attractive from Athens.
The realisation of this Greek position has led to the downgrading of France because the French banks are more exposed to Greece than any other foreign banks. All this news is simply the latest phase in Europe’s ongoing debt crisis. It is clear that, however it ends, the credit/banking industry will never be the same again.
http://www.davidmcwilliams.ie/2012/01/16/irish-banks-will-shrink-and-shrink
If we do not succeed in disciplining crisis countries, Germany needs to exit," said Reitzle who was previously a board member at carmaker BMW (BMWG.DE) and head of Jaguar and Land Rover.
Reitzle said the euro zone is unlikely to break up completely but Greece is not in a position to service its debt.
"The country is not in a position to restructure itself in such a way that it can remain in the currency union," Reitzle said.
http://in.reuters.com/article/2012/01/15/eurozone-linde-idINDEE80E07Z20120115
Greece will default – as it should. The bondholders will get roasted – as they should – for making bad investments.
The laws of capitalism will be allowed to do their thing. Debtors and creditors will pay – as they both should – with both parties sharing the cost.Whether this leads to Greece being pushed out of the euro remains to be seen.
An opportunistic play by a desperate Greek government might be a total default, followed by the reintroduction of a new currency and then the restart button is hit. Initially, it would be an international pariah, but over time it would recover.
You might think it sounds radical, but it is straight from the IMF’s own adjustment handbook. In fact, the favoured IMF remedy to debt crises is partial/agreed default, followed by a rapid devaluation of the currency, which is then fixed at a new, much lower level.
The more aggressive approach is simply an amplified version of what is likely to happen anyway. The present policy calls for an internal devaluation plus some default. Why not an explicit external devaluation with total default, which gets you to the same place but a lot more quickly?
One of the reasons why there will be huge opposition in Europe to the Greeks going down this road is because it means the banks that lent money to Greece would get nothing or very little.On the other hand, internal devaluation would mean that they would take a haircut and then slowly bleed Greece dry for the rest of the money. But when you think about Greece’s position, this makes no sense. Greece has a current account deficit of ten per cent of GDP.
This means it must borrow an amount equal to nearly ten per cent of its GDP to pay for its current level of imports. If yet more money goes abroad to feed interest payments for foreign banks, it will have to borrow yet more just to make its current account balance. This is why getting the biggest default now must look attractive from Athens.
The realisation of this Greek position has led to the downgrading of France because the French banks are more exposed to Greece than any other foreign banks. All this news is simply the latest phase in Europe’s ongoing debt crisis. It is clear that, however it ends, the credit/banking industry will never be the same again.
http://www.davidmcwilliams.ie/2012/01/16/irish-banks-will-shrink-and-shrink
The Rule of Law as the basis for real direct democracy and sound money system.
Democracy really now has become a blatant spin world for the powers at be in order to gain more global influence.
Democracy has become a so “up in your face” tool to manipulate media and the masses in to a fake, brainwashed view and interpretation of what really is all about lack of rule of law.
With democracy it’s dead easy for the immensely wealth few to control the 99%. All you need in order to implement democracy is a small enough group of people let’s say a few couple of hundreds. You then dictat these people have the right to decide on every aspect of any importance influencing your daily lives and future by majority rule. All you need is more than 50% of the votes.
Who then are the few couple of hundreds? Well in the US they are referred to as the e.g. senate and congress and the
president, in other parts of the world they are referred to as e.g. the parliament. Then you just need to make sure that no one of any importance can have any say or promote about anything important without you approval.
No direct threats needed just plain and common networking in order to ensure no one can make any career of any significance without your connections and money.
That’s why you need billions in the US in order to become a president and in order to support your campaign. Who’d ever thought a democracy was all about to choose between two already bought and bribed candidates promoting the powers at bees agenda?
Now it’s all about democracy for the middle east. How about instead rule of law and financial crooks instigating the
biggest robbery and transfer of wealth in the history of man prosecuted and put away for good behind bars?
http://www.youtube.com/watch?v=4XJe7O-3QBc
Again and if you by now do not understand that democracy simply is used to further enslave us all and what in fact we all now all over the world lack is real rule of law you’re simply completely lost and you have bought in the main stream brainwash propaganda.
Two things now is all about to change all of this:
A. New financial and underground IT based services shortcutting the complete banking and financial sector allowing
you and me to use our money electronically without any charges or middle hands.
a. Here is one example: http://bitcoin.org/
B. New IT solutions allowing all people to participate and have a direct say in every aspect of every decision of any importance local, regional as well as globally, shortcutting politicians, lobbying interests, oligarchs, bankers and the rest.
b. http://www.youtube.com/watch?v=4ymisqrieWg
So with real rule of law implemented as the basis for our common good and interests and combined with new it underground solutions related to a fair and honest money and payment solutions as well as new capability to allow for all people to direcly participate in the decision process we're gearing up for a very much imporved future.
Banks and the political class both are aboute to become as absolete as you local CD musik store.
Democracy has become a so “up in your face” tool to manipulate media and the masses in to a fake, brainwashed view and interpretation of what really is all about lack of rule of law.
With democracy it’s dead easy for the immensely wealth few to control the 99%. All you need in order to implement democracy is a small enough group of people let’s say a few couple of hundreds. You then dictat these people have the right to decide on every aspect of any importance influencing your daily lives and future by majority rule. All you need is more than 50% of the votes.
Who then are the few couple of hundreds? Well in the US they are referred to as the e.g. senate and congress and the
president, in other parts of the world they are referred to as e.g. the parliament. Then you just need to make sure that no one of any importance can have any say or promote about anything important without you approval.
No direct threats needed just plain and common networking in order to ensure no one can make any career of any significance without your connections and money.
That’s why you need billions in the US in order to become a president and in order to support your campaign. Who’d ever thought a democracy was all about to choose between two already bought and bribed candidates promoting the powers at bees agenda?
Now it’s all about democracy for the middle east. How about instead rule of law and financial crooks instigating the
biggest robbery and transfer of wealth in the history of man prosecuted and put away for good behind bars?
http://www.youtube.com/watch?v=4XJe7O-3QBc
Again and if you by now do not understand that democracy simply is used to further enslave us all and what in fact we all now all over the world lack is real rule of law you’re simply completely lost and you have bought in the main stream brainwash propaganda.
Two things now is all about to change all of this:
A. New financial and underground IT based services shortcutting the complete banking and financial sector allowing
you and me to use our money electronically without any charges or middle hands.
a. Here is one example: http://bitcoin.org/
B. New IT solutions allowing all people to participate and have a direct say in every aspect of every decision of any importance local, regional as well as globally, shortcutting politicians, lobbying interests, oligarchs, bankers and the rest.
b. http://www.youtube.com/watch?v=4ymisqrieWg
So with real rule of law implemented as the basis for our common good and interests and combined with new it underground solutions related to a fair and honest money and payment solutions as well as new capability to allow for all people to direcly participate in the decision process we're gearing up for a very much imporved future.
Banks and the political class both are aboute to become as absolete as you local CD musik store.
lördag 14 januari 2012
Dissecting Occupy Wall Street-On the Edge with Max Keiser-13-01-2012
In this edition of the show Max interviews Danny Schechter; media activist, author and filmmaker.The program starts with a precedent of Danny Schechter's book, "In Debt We Trust" which is about economic meltdown in America. Another book discussed by Schechter was "plunder" which was about Lemon Brothers' collapse. He said the financial story in America is not a business story, it's rather a crime story.
http://www.youtube.com/watch?feature=player_embedded&v=pcuydR5etyA#!
http://www.youtube.com/watch?feature=player_embedded&v=pcuydR5etyA#!
onsdag 11 januari 2012
Wesley Clark ( US 4 Star General ) US will attack 7 countries in 5 years.
So much for the "Twitter revolution" in the middle east..
Wesley Clark , Oct 3 2007 at the commonwealth club of California. (San Francisco California )He openly says that there was a policy coup . ( Donald Rumsfeld , Paul Wolfowitz , Dick Cheney ) - Project for a New American Century.
He stated that they are going to destroy the governments of 7 countries in 5 years .Countries listed below !Iraq, Syria , Lebanon , Libya, Samolia , Sudan and Iran ( 7 countries in 5 years) They must clean up all former soviet client regimes before the next super power comes on to challenge us.
http://www.youtube.com/watch?v=Ha1rEhovONU&feature=player_embedded#!
Wesley Clark , Oct 3 2007 at the commonwealth club of California. (San Francisco California )He openly says that there was a policy coup . ( Donald Rumsfeld , Paul Wolfowitz , Dick Cheney ) - Project for a New American Century.
He stated that they are going to destroy the governments of 7 countries in 5 years .Countries listed below !Iraq, Syria , Lebanon , Libya, Samolia , Sudan and Iran ( 7 countries in 5 years) They must clean up all former soviet client regimes before the next super power comes on to challenge us.
http://www.youtube.com/watch?v=Ha1rEhovONU&feature=player_embedded#!
Bitcoin, digital valuta bortom myndigheternas kontroll
Medan Euron darrar i sina grundvalar utvecklas i det tysta mindre valutor. Men då sådana som bara finns digitalt. Framtiden menar vissa, obskyrt tycker andra. En av valutorna heter Bitcoin.
Enligt en uppskattning finns idag motsvarande mellan 3 och 400 miljoner kronor i denna enbart digitala valuta i datorer världen över och som används nästa helt bortom myndigheternas kontroll.
Tillskyndarnas vision är att den om några år ska vara betydligt mer utbredd bland allmänheten. Och kanske till och med utgöra ett hot mot de traditionella bankerna.
http://sverigesradio.se/sida/artikel.aspx?programid=1637&artikel=4890903
We discuss copyright and how Hollywood cons Congress by using Wall Street accounting. In the second half of the show, Max talks to Amir Taaki about hackers, piracy, technology and bitcoin.
http://maxkeiser.com/2012/01/10/kr234-keiser-report-hollywood-cons-congress/
Enligt en uppskattning finns idag motsvarande mellan 3 och 400 miljoner kronor i denna enbart digitala valuta i datorer världen över och som används nästa helt bortom myndigheternas kontroll.
Tillskyndarnas vision är att den om några år ska vara betydligt mer utbredd bland allmänheten. Och kanske till och med utgöra ett hot mot de traditionella bankerna.
http://sverigesradio.se/sida/artikel.aspx?programid=1637&artikel=4890903
We discuss copyright and how Hollywood cons Congress by using Wall Street accounting. In the second half of the show, Max talks to Amir Taaki about hackers, piracy, technology and bitcoin.
http://maxkeiser.com/2012/01/10/kr234-keiser-report-hollywood-cons-congress/
Prenumerera på:
Inlägg (Atom)