Archive for the ‘World truth’ Category

Alkylation Unit At Largest East Cost Refinery "Completely Destroyed" After Inferno, Restart Unclear

Following the explosion and subsequent inferno at Philadelphia Energy Solutions’ oil refinery last week, its alkylation unit has been “completely destroyed”. After fire tore through the east coast’s largest refinery, workers are now getting a chance to finally assess some damage that will hamper the normal production of fuel going forward. According to Reuters, the refinery could […]

Trump: Why Protect Other Countries’ Shipping Lanes For "Zero Compensation"? 

Following statements on Meet the Press Sunday where he said “I was against going into the Middle East,” and lamenting that “we’ve spent 7 trillion dollars” there, Trump continued his theme of drawing down in the region on Twitter, saying Monday morning it’s time for China and others to protect their own ships in the Persian […]

Trader: All-Time Highs Are No Valid Reason To Celebrate

Authored by Richard Breslow via Bloomberg, It’s hard to tell whose bluff was called last week, but the end result is that almost every systemically important central bank did more than blink. They caved. The question is, did they do so to keep the fun alive? Because they know something that they are loathe to […]

Key Events This Week: All Eyes On The Osaka G-20

Now that the Fed’s capitulation is complete and “Powell has thrown in the towel”, bending the knee to Trump, the event baton passes from central banks to politicians this week with the big highlight being the G-20 summit and a potential meeting between President’s Trump and Xi. Prior to that, DB’s Craig Nicol writes that […]

Do Americans Support Military Action Against Iran?

It has emerged that President Trump approved military strikes against Iran before pulling back at the last minute when planes were in the air and ships were in position. U.S. military and diplomatic officials were expecting strikes against several Iranian radar and missile sites in response to the downing of an RQ-4 Global Hawk surveillance drone over the […]

Violence Erupts As West Turns Its Sexual Subversion Weapon On Georgia

Authored by James George Jatras via The Strategic Culture Foundation, With apologies to Alfred, Lord Tennyson, it’s June, when a young man’s (or woman’s, or sexually indeterminate person’s) fancy lightly turns to thoughts of nontraditional “love” of any variety expressed by the ever-growing LGBTTQQIAAP alphabet soup. In downtown Washington it’s impossible to swing a cat without hitting a rainbow flag […]

Trade War Nightmare Could Destroy American Bridal Grown Industry

Bridal gown and special occasion trade organizations are divorcing from President Trump’s “Make America Great Again” trade war, claiming, the 25% tariff hit list on $200 billion of Chinese imports will affect materials used to make wedding dresses, could threaten the entire industry into extinction. The 25% tariffs on bridal attire would skyrocket costs, damage […]

The Coming Show Trial Of Julian Assange 

Authored by Chris Hedges via Truthdig, On Friday morning I was in a small courtroom at Westminster Magistrates’ Court in London. Julian Assange, held in Belmarsh Prison and dressed in a pale-blue prison shirt, appeared on a video screen directly in front of me. Assange, his gray hair and beard neatly trimmed, slipped on heavy, […]

China Aims For 30 "New Silk Road" Nuclear Reactors By 2030

A senior Chinese official and former chairman of the state-owned China National Nuclear Corporation, Wang Shoujun, said that the country needs to give more support to its nuclear programs and take advantage of “the opportunities provided by the Belt and Road Initiative (BRI),” according to RT.  Shoujun said at the China People’s Political Consultative Conference: “Going with […]

Bitcoin Soars Above $11k For First Time Since March 2018, Ether Tops $300

Update (1030ET): Bitcoin just puked some of its overnight gains on a heavy volume spike… *  *  * One day after we reported that Bitcoin futures traded above $10,000 as crypto derivatives markets “are gearing up towards another big weekend as bitcoin approaches $10k”, not only did the spot price surge above $10,000 but just […]

Secret Gold Trade With Uganda Exposes Underground Economy Keeping Maduro’s Venezuela Afloat

Authored by David Craggen via SafeHaven.com, Back in March, a Uganda-based gold refinery was caught importing a massive 7.4 million tons of gold under questionable circumstances.  At the time, no one could prove definitively that it was Venezuelan gold from the Maduro regime, and half of it had already been lost to export.  Now, a Wall […]

Publishers Warn Trade War Could Lead To Bible Shortages, "Think Of The Children"

Christian book publishers are pleading with President Donald Trump not to impose “a Bible tax,” reported Bloomberg. The US and China have been locked in a tit-for-tat trade war for more than one year, now risk the chance of a full-blown economic war. In the last several weeks, President Trump threatened China with a 25% […]

Who Survives The Iran Counter-Offensive?

Authored by Tom Luongo, Iran has had enough. I think it’s fair to say that after 60+ years of U.S. aggression towards Iran that the decision to shoot down a U.S. drone represents an inflection point in world politics. In the first few hours after the incident the fog of war was thick. But a […]

1 In 5 Global Citizens See US As Force For Bad Around The World

In a new study entitled ‘The Age of Impunity?‘ by The Policy Institute at Kings College London and Ipsos MORI, 17,000 respondents from 24 countries were asked if they thought other states or organizations were mostly using their influence for good or for bad around the world. You will find more infographics at Statista As […]

Kashkari Hoping To Replace Powell? Says He Pushed For 50bps Rate Cut

While we already knew that St Louis Fed president and FOMC voting member James Bullard dissented with Wednesday’s decision to keep rates unchanged, pushing for a 25bps cut instead, moments ago former Goldman and PIMCO employee, and current Minneapolis Fed president, Neel Kashkari – who is a non-voting FOMC member in 2019 but is voting […]

Existing Home Sales Tumble YoY For 15th Month – Worst Run Since Housing Crisis

After April’s disappointing drop in all segments of the home-sales data, existing home sales were expected to rebound (again) in May and surprised modestly to the upside. Existing home sales rose 2.5% MoM to 5.34mm in May (and saw a modest upward revision in April) However, existing home sales have declined on a YoY basis […]

US Manufacturing PMI Plunges To 10-Year Lows, Services ‘Hope’ Lowest On Record

Following (slightly) better-than-expected European PMIs, expectations for US PMIs was for some stabilization after May’s collapse but they did not. Both preliminary Manufacturing and Services PMIs for June dropped further, edging closer to contraction: Flash U.S. Composite Output Index at 50.6 (50.9 in May). 40-month low. Flash U.S. Services Business Activity Index at 50.7 (50.9 […]

Blain: "Facebook Is The Last Place We Should Trust As A Banking Hub"

Blain’s Morning Porridge, submitted by Bill Blain “Its midsummer day, and I suppose we should be dancing naked round the stones – on second thoughts, probably not… looks like rain.. A host of things to think about as the week wends towards a weary close…. How about the potential of a hot-war in the Gulf […]

Iran Denies Report Trump Sent Warning About Imminent Attack

Update: Iran’s top national security official has denied a Reuters report claiming that Tehran had received a low-key message via Oman from the US warning of an imminent attack on the Islamic Republic. “The US didn’t send any message,” Keyvan Khosravi, spokesman for the National Security Council, told Iranian television.       * * […]

Imprisoned Morsi died in court: Who really cares?

Yesterday, … yes, I believe it was yesterday evening, while driving my car in downtown Alexandria that I first heard of Mohamed Morsi’s sudden death while being in court. I did not pull over, I did not seem surprised nor sad. I just kept driving on and (with a smirk on my face) turned on […]

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