Submitted by William Engdahl via New Eastern Outlook,
Russia has just taken significant steps that will break the present Wall Street oil price monopoly, at least for a huge part of the world oil market. The move is part of a longer-term strategy of decoupling Russia’s economy and especially its very significant export of oil, from the US dollar, today the Achilles Heel of the Russian economy.
Some thoughts on what lies ahead while President Obama jawbones... (grab a glass of wine or bottle)
Submitted by David Haggith via The Great Recession blog,
Russian President Vladimir Putin has hinted that Russia may be able to offer Syrian President Bashar al-Assad asylum should he need to flee Syria. The Russian leader said if President Assad were pushed from office early, Russia would grant him asylum. “We granted asylum to Mr. Snowden, which was far more difficult than to do the same for Mr. al-Assad,” Mr Putin said in an interview on Tuesday. Washingtonpost.com reports: Putin was referring to Edward Snowden, the former NSA contractor who fled to Moscow after releasing reams of classified documents about U.S. surveillance programs.
In yesterday's overnight market wrap, we commented that while Chinese stocks had succeeded in levitating following another massive government intervention, "the global market was far more focused with what was going on in China's currency, which as previously reported, plunged to new 5 year lows, while the spread between the onshore and offshore Yuan rose to a record wide, suggesting the depreciation in the currency is only going to accelerate from here, and a big payday for Kyle Bass is coming."
Russia and China have both ramped up their presence in Antartica in order to increase their influence in the last remaining unclaimed part of the world. Russia are building off of existing Soviet bases in Antarctica and expanding its development of a global petitioning to rival American GPS. Businessinsider.com.au reports: Moscow has so far constructed a minimum of three satellite monitoring systems in the Antarctic, the Times reports, with future bases planned. Russia also has more long-term ambitions in the region.