Showing posts with label Thierry Meyssan. Show all posts
Showing posts with label Thierry Meyssan. Show all posts

Wednesday, July 6, 2016

The British Pound's 100-Year Debasement & The City's China Wild Card

Bloomberg (Jul 5, 2016) - Sterling first slumped after coming off the gold standard in 1931 in which it had been overvalued, just as it was in 1944 when it joined the Bretton Woods system of managed exchange rates. Another 30 percent devaluation was swallowed in 1949 and then Wilson sanctioned another drop in 1967 amid Britain’s balance of payments crunch. While the IMF was called in to help avoid a sterling crisis in the 1970s, it fell again in the early 1980s. 

UK Equity Markets Dip Below 5%.
Source: Bespoke (Jul 5, 2016)
The U.K. joined the Exchange Rate Mechanism, a precursor to the Euro, in 1990 but was forced out just two years later because it couldn’t sustain a link to the Deutsche Mark. Now there is speculation that life outside the EU will cost the pound its place in the top tier of reserve currencies. It currently accounts for 5 percent of foreign exchange reserves, according to the IMF. A weaker currency may not do that much to prop up the U.K. economy. While it should boost manufacturing and tourism, three-quarters of the economy is dependent on services such as finance and their future is subject to whatever access to the EU the British government can negotiate. There are also
British Pound Sterling (GBP) to Chinese Yuan Renminbi (CNY)
Source: www.xe.com
structural weaknesses leaning against the pound. The U.K. ran a near-record current account deficit of 6.9 percent of output in the first quarter and is suffering from weak productivity. Demand remains weak abroad and prices may not be that sensitive to swings in the exchange rate because producers still rely on foreign components for their goods.

Thierry Meyssan (Jul 04, 2016) - The Western Press keeps repeating the same message – by leaving the European Union, the British have isolated themselves from the rest of the world, and will have to deal with terrible economic consequences. And yet, the fall in the Pound could be an advantage within the Commonwealth, which is a far greater family than the Union, and present on all six continents. Famous for its pragmatism, the City could quickly become the international centre for the yuan and implant the Chinese currency in the very heart of the Union [...] The London Stock Exchange announced an agreement with the China Foreign Exchange Trade System (CFETS), and, in June, became the primary Stock Exchange in the world to rate Chinese treasury bonds. All the elements were in place to transform the City into a Chinese Trojan Horse in the European Union, to the detriment of US supremacy.

Ahmed Farghaly (Jul 6, 2016): GBPUSD: Contradicting the EUR

Saturday, January 16, 2016

Breakeaven Oil Price - Towards The Collapse Of Saudi Arabia

Thierry Meyssan (Jan 11, 2016) - [...] The fall of the House of Saud may be provoked by a reduction in the price of oil. Incapable of reforming its life-style, the kingdom is borrowing hand over fist, to the point that according to financial analysts, it will probably collapse within two years. The partial sale of Aramco may temporarily postpone its demise, but this will only be possible at the cost of a loss of autonomy. The decapitation of Sheikh al-Nimr will have been the straw that broke the camel’s back. The fall of Saudi Arabia is now inevitable because there is no hope left for the people who live there. The country will be plunged into a mixture of tribal revolts and social revolutions which will be far more murderous than the previous Middle-Eastern conflicts.

Costs of Oil Production 2015 - Enlarge (Credits: Aargam)
Far from acting to prevent this tragic end, the US protectors of the kingdom are awaiting it with impatience. They continually praise Prince Mohammed’s «wisdom», as if encouraging him to make even more mistakes. Already in September 2001, the US Committee of the Chiefs of Staff were working on a map for the re-modelling of the «wider Middle East », which planned for the separation of the country into five states. In July 2002, Washington was considering ways of getting rid of the Saud family, during a famous session of the Defense Policy Board. From now on, it’s just a matter of time. Keep in mind: The United States have managed to solve the question of the succession of King Abdallah, but today, they are attempting to lead Saudi Arabia into error. Their objective is now to divide the countrry into five states. Wahhabism is the state religion, but the power of the Saud family, both interior and exterior, depends exclusively on Sunni tribes, while it subjects all other populations to apartheid. King Salman (80 years old) leaves the exercise of power to one of his children, Prince Mohammed (30 years old). The Prince has seized control of his country’s major companies, has declared war on Yemen, and has just executed the leader of the opposition, Sheikh al-Nimr." 



HERE
 According to the 2015 budget that Saudi Arabia’s King Salman bin Abdulaziz Al Saud unveiled on December 28, the Gulf state that is the symbol of oil producing and exporting countries will face a 367-billion-riyal deficit this year, which is about USD 87.0 billion. Saudi Arabia has never seen a budget deficit of such proportion; it is a historical record and equivalent to 15% of its gross domestic product (GDP). Saudi Arabia is directly and indirectly involved in four wars (Yemen, Syria, Iraq, and Libya) and is trying to make sure that the government of President Abdel Fattah el-Sisi in Egypt does not implode. In Syria, the Saudis are trying to overthrow President Assad and the costs have increased dramatically. On Saturday, January 16th the Saudi Arabia Tadawful stock index slumped 7% to its lowest level in five years after Brent oil fell below USD 29 a barrel. While all stock markets on the Arabian peninsula tumbled, the Iranian stock index gained one percent, making it one of the best performing markets in the world with gains of six percent since the start of the year (HERE).

Monday, October 19, 2015

United States Just Lost Superiority In Conventional Warfare

The biggest event that took place in Syria as part of Operation Hmeymim was the use by
the Russian Navy’s Caspian Flotilla of 26 seaborne land-attack cruise missiles (LACMs)
that hit 11 Daesh and Jabhat al-Nusra military targets inside Syria, which were located
about 1,500 km. away from the missile launch site (HERE)
Thierry Meyssan (Oct 19, 2015) - Moscow’s military intervention in Syria has not simply overturned the fortunes of war and spread panic throughout the ranks of the jihadist groups. It has also shown the rest of the world the current capacities of the Russian army in situations of real warfare. To everyone’s astonishment, it has proved to possess a system of signal jamming capable of rendering the Atlantic Alliance deaf and blind (A2/AD = anti-access/area denial). Despite a far superior budget, the United States have just lost their military domination.

Vladimir Kozin (Oct 13, 2015) - The firing of cruise missiles by the Russian Navy, from the Caspian Sea, was not necessary for its military operation in Syria. However, this convincing show of force, demonstrates Russia’s technical superiority over NATO in this domain. Therefore, the so-called anti-missile shield, currently deployed by the Atlantic Alliance around Russia, is now obsolete.

Tuesday, August 4, 2015

The Strangeloves, the Crazies and the Butchers

While President Obama was in Ethiopia addressing the African Union on the problem posed by ISIS, the clique of warmongers around General John R. Allen and Recep Tayyip Erdoğan, President of Turkey, began its deceptive bombing attacks against the Kurds of northern Syria, weakening the most effective opponents of ISIS. The front page of The Washington Post declared the air campaign will be expanded into a “safe-zone” along the Turkish-Syrian border that “could become a haven for civilians” — meaning ISIS and Nusra butchers disguised as the “Free Syrian Army”. Pushing ISIS away from the Turkish border, regardless of the semantic argument over whether it will be a buffer zone/safe zone/no-fly zone or “civilian haven” are all methods for achieving the same end: Any place along the Turkish-Syrian border put under the control of the NATO-Turkey-Saudi-Qatar Axis represented by General Allen would act as a smuggling route transporting ISIS fighters, money and equipment into Syria and oil or other resources out of there. Thierry Meyssan of the Voltaire Network is providing new revelations about the role of Turkish President Erdoğan as one of the top terrorist controllers running ISIS and parallel groups like al Qaeda:

War Cycles on the rise (HERE)
“[...] in order to care for the wounded ISIS jihadis, Erdoğan has created a secret hospital, outside of the combat zones, in the Turkish town of Şanlıurfa, not far north of the Turkish-Syrian border. This town was already the site of a secret Al Qaeda training camp. The wounded ISIS fighters are taken to this hospital in Turkish military vehicles by the MIT (Milli Istihbarat Teskilati or national intelligence organization). This hospital is under the personal supervision of Sümeyye Erdoğan, the daughter of President Erdoğan. She is also the director of international relations for the Erdoğan-Davutoğlu AKP Islamist party. In addition, according to Gürsel Tekin, the spokesman of the Cumhuriyet Halk Partisi (Republican People’s Party), the crude oil stolen by ISIS is now being exported by BMZ Ltd., the shipping company controlled by Bilal Erdoğan, the son of President Erdoğan, in flagrant violation of Resolution 2170 of the United Nations Security Council. (HERE + HERE + HERE + HERE + HERE).