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   Strategies & Market TrendsThe Financial Collapse of 2001 Unwinding


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To: elmatador who wrote (8598)2/27/2022 12:22:20 PM
From: Haim R. Branisteanu
   of 10270
 
Elmo those are very old news.

Why it happen GOD knows - IMHO it is all about corruption and money

A German former Chancellor needs more money can not go on board of a German company?

Just disgraceful

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To: Haim R. Branisteanu who wrote (8600)3/1/2022 1:40:54 AM
From: elmatador
   of 10270
 
Rosneft is not a German company. Of course I am all for making money.

And he is good at it.

Anyway the Europeans are good at making money. They have no natural resources and are rich.

Now for another thing.

See those companies happily punishing Russia. Imagine when the pension funds that invested on them discover how much they are going to lose amigo!

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To: elmatador who wrote (8601)3/1/2022 3:55:44 AM
From: Haim R. Branisteanu
   of 10270
 
Europeans got rich by plundering other nations - remember their roots they are barbarians that destroyed Rome - another very cruel empire.

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To: Elroy Jetson who wrote (8594)3/1/2022 4:01:49 AM
From: elmatador
   of 10270
 
Analysis: After sanctions barrage, Russia's emerging market allies explore workarounds

By Samuel Shen and Andrew Galbraith

SHANGHAI, Feb 28 (Reuters) - As western governments ratchet up sanctions against Russia over its invasion of Ukraine, Moscow's emerging markets allies are exploring channels for trade and financing to continue.

The other members of the erstwhile BRICs group - Brazil, India and China - are treading cautiously for fear of tripping on the sanctions, but the beginnings of a parallel financial system centred on Beijing are becoming detectable.

The United States and Europe have banished big Russian banks from the main global payments system SWIFT and announced other measures to limit Moscow's use of a $640 billion war chest. read more

So the willingness of the emerging market giants to sustain business relations with Russia highlights a deep rift over Europe's biggest crisis since the World War II, and threatens to chip away the dominance of the U.S. dollar in global trade.

Chinese businesses and banks are now scrambling for ways to limit the impact of sanctions on their relations with Russia, with settlement of transactions in yuan seen rising at the expense of the dollar. The western curbs, which aim to cut Russia out of the global financial system, could also deepen commercial links between Moscow and Beijing.

In India, as concerns mount over sustaining supplies of Russian fertilizer, government and banking sources say there is a plan to get Russian banks and companies to open rupee accounts with a few state-run banks for trade settlement as part of a barter system. read more


Brazil's President Jair Bolsonaro said his country will remain neutral in the conflict.

Deng Kaiyun, who heads Zhejiang's chamber of commerce that represents Chinese private businesses that trade with Russia, said doing transactions without SWIFT was not a big issue, as the two countries both started de-dollarisation five years ago.

"Yuan-rouble settlement has become a normal business at major banks nowadays ... We business people are already accustomed to that," Deng said, adding yuan is increasingly popular with Russians.

SWIFT

The sanctions are prodding Russian and Chinese companies to open accounts at Chinese banks that have subsidiaries in Russia, said a Moscow-based lawyer who represents Chinese businesses.

"SWIFT is not the only payment system. If you block this channel, business people need to find alternatives," said the lawyer, who declined to be named due to sensitivity of the topic.

A source at a Chinese state bank who declined to be identified says "exporters are now in favour of using yuan to settle their payments" with Russia. Some of those trades were settled in euros or dollars until last week.

A source at another state lender said that, given a lack of details in the Western sanctions, the bank is closely monitoring the situation while encouraging clients to use yuan in trade settlements with Russia.

Yuan settlements already accounted for 28% of Chinese exports to Russia in the first half of 2021, compared with just 2% in 2013, as both China and Russia step up efforts to reduce reliance on the dollar, while developing their own respective, cross-border payment systems.

The current crisis could accelerate the trend.

Dang Congyu, analyst at Founder Securities writes the SWIFT sanctions against Russia are "a milestone event that will accelerate the process of de-dollarisation."

"Although it's hard to replace SWIFT in the short term, this incident is very beneficial to yuan's globalisation over the long run."

DE-DOLLARISATION

Efforts on de-dollarisation are not limited to trade.

Investment firm Caderus Capital said it has been working to promote cross-border investment between Russia and China.

Managing director Andrei Akopian also hailed Russia central bank's move to increase investment in yuan assets as "the best way to increase the popularity of the Chinese RMB among Russian investors."

Yuan accounted for 13.1% of the Russian central bank's foreign currency reserves in June 2021, compared with just 0.1% in June 2017. Dollar holdings dropped to 16.4%, from 46.3%.

"If we talk about trade and investment, it makes a lot of sense for both countries not to trade in the in U.S. dollars, because then you have double conversion, in addition to other difficulties recently," Akopian said.

But the pain for many Chinese businesses is immediate, with a volatile rouble and trade contracts not being honoured.

"Everyone is focused on maintaining or cutting existing business right now. No one is talking about new business. That's what I'm hearing from all quarters, including Chinese clients," said a lawyer who declined to be named.

Han-Shen Lin, senior advisor The Asia Group and an ex-banker, also cautions that Chinese banks could face tougher scrutiny in the face of western sanctions against Russia.

"All the Chinese banks know that the U.S. dollar clearing global banks will be asking Chinese banks about involvement in sanctions-related counterparts transactions," Lin said.

"What will be of interest is how Chinese banks can segregate the sanctioned transactions versus non-sanctioned", such as energy-related businesses.

Reporting by Winni Zhou, Andrew Galbraith, Samuel Shen in Shanghai; and Ma Rong in Beijing; Additional reporting by Alun John; Editing by Vidya Ranganathan and Toby Chopra

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To: THE ANT who wrote (8451)3/1/2022 4:59:12 AM
From: elmatador
1 Recommendation   of 10270
 
There are some guys I listen to what they say carefully. Else one losses the essence of what goes inside the head of the guy.

I listen to Vladimir carefully.
Not saying I agree. Not saying either that his reading of the facts are correct. But I try to know what goes inside his head.

Branko Milanovic dissects Putin's worldview.Vladimir Putin’s speech on 21 February 2022 at the occasion of the recognition of Donbas and Lugansk republics is one of the most extraordinary political speeches of the present time. It consists of more than 6,000 words, and it was delivered over 55 minutes without the help of a single piece of paper or without a single hesitation. To the extent that one can judge there was no teleprompter either.

It is a speech that lays bare, and intends to do so, Putin’s own philosophy of history. It covers the past one hundred years of Russia’s history. It gives one, not unreasonable, but very narrow version of that history, where historical events with multiple causes and multiple meanings are simplified to a single cause and single meaning.

It is a form of “J’accuse” speech that tells, according to Putin, a story of a century of betrayals of Russia: by Communists, by Russia’s own elites, and by Russia’s pretended friends. It is thus best to divide the text into three parts, the three betrayals.

globalpolicyjournal.com

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From: Haim R. Branisteanu3/1/2022 5:04:58 AM
   of 10270
 
Moscow is threatening Finland with consequences if its neighbor joins NATO. Just like Sweden, the Finns were neutral themselves during the Cold War. But the current threat is crumbling old certainties.
welt.de

Hitherto, Finland and Sweden have not belonged to NATO, they officially describe themselves as “non-aligned”. But that could change soon. Because after the Russian invasion of Ukraine, the mood in both countries could slowly start to change.

Moscow is watching the development with suspicion. The threat to a short report on a parliamentary debate in Helsinki shows how nervous the Kremlin is. Prime Minister Sanna Marin had said they were "ready to apply for NATO membership if the issue of national security becomes acute".

Referring to the report, Russia's Foreign Ministry tweeted that Finland's entry into NATO "would have serious military and political consequences." A threat that Finland must take seriously: the country shares a 1,300-kilometer border with Russia. In addition, Russia is one of the most important importers of Finnish goods, while Finland gets 60 percent of its energy from the neighboring country .

In fact, from the Russian point of view, the non-alignment of both states is almost indispensable. "We believe that the policy of neutrality of these two countries is one of the most important contributions to the common European architecture and to ensuring stability in Europe," Foreign Minister Sergey Lavrov said recently. From Moscow's point of view, both countries form a buffer to NATO.

The taboo fell on Monday: Stockholm is now offering anti-tank weapons to Kiev, while Finland is offering helmets and bulletproof vests.

According to a survey, a majority of Finns voted in favor of joining NATO for the first time. This was reported by Finnish radio on Monday. Accordingly, 53 percent of those surveyed support submitting an application for NATO membership. In addition, a citizens' survey reached a critical number of signatures: Parliament now has to deal with the petition calling for a referendum on accession.

The approval ratings for NATO are even more favorable in Sweden, where the mood towards the alliance is traditionally better than in Finland.

Now, of all things, the parliamentary elections next September could lead to Sweden joining NATO.

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To: elmatador who wrote (8604)3/1/2022 6:29:27 AM
From: THE ANT
   of 10270
 
Follow Kris@ekrit on twitter. This is a war between religions, orthodox Christianity and the Western Liberalist faith. Putin has said in a nuclear war they go to heaven and Western Liberalism to hell (latter probably true) I am getting my family in DC ready to evacuate or at least be first on the road. Unless attacked by US I think he will likely go nuclear first in Europe with only a weapon or two. If that doesn't work we know where a lot of people will wake up

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To: THE ANT who wrote (8606)3/1/2022 6:46:04 AM
From: arun gera
   of 10270
 
<This is a war between religions, orthodox Christianity and the Western Liberalist faith.>

How about the rest of us with different faiths?

-Arun

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To: arun gera who wrote (8607)3/1/2022 6:47:44 AM
From: THE ANT
   of 10270
 
Not directly in this one .Not good to be in Europe or US You may run the next show. Read Kris he has predicted this for years

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To: THE ANT who wrote (8606)3/1/2022 10:16:17 AM
From: elmatador
   of 10270
 
You have Belo Horizonte to decamp
Problem is your daughter.
I guess
The mood EU mood has got to change
These aunts Defense Ministers do not help

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