https://asia.nikkei.com/Editor-s-Pi...-ambitious-goals-triggered-US-China-trade-war one can ignore the bias, just read the story
Trade war chickens home to roost: Billions of pounds of meat fill US warehouses with nowhere to go https://www.rt.com/business/434032-us-meat-piles-slow-exports/
Trade War Returns: China Vows Retaliation To US "Blackmail" If Trump Hikes Tariffs https://www.zerohedge.com/news/2018-08-01/china-vows-retaliation-us-blackmail-if-trump-hikes-tariffs
China Nukes Yuan Shorts: PBOC Raises FX Fwd Reserve Requirement To 20% https://www.zerohedge.com/news/2018...ter-pboc-raises-fx-fwd-reserve-requirement-20 bigger ones wow
You may have missed the submarine fleet under the aircraft carries and fregates. Central banks all over the world heftily increased the degree they cooperate with eachother. Central banks existence reason is to act against speculators, that may dump their currencies for other products including other currencies. Those speculators includes you and me on this precious metals forum. Now, take a look at their submarine warfare: https://www.ecb.europa.eu/explainers/tell-me-more/html/currency_swap_lines.en.html https://www.ecb.europa.eu/press/pr/activities/intco/html/index.en.html?skey=swap 27/09/2016 ECB and People's Bank of China extend bilateral currency swap arrangement 26/11/2015 ECB and the People's Bank of China successfully test bilateral currency swap arrangement 16/09/2013 ECB extends the swap facility with the Bank of England 17/12/2010 ECB signs swap facility agreement with the Bank of England 06/04/2009 Central banks announce expanded swap arrangements 13/09/2001 Swap agreement with the Federal Reserve https://www.rt.com/business/408305-russia-china-currency-swap/ https://sputniknews.com/business/201701231049921157-egypt-currency-swap-russia/ https://www.dailysabah.com/economy/...ove-to-use-national-currency-in-foreign-trade https://www.bloomberg.com/news/arti...lion-lifeline-swaps-cash-for-world-wide-clout All these central banks now support eachother, and even when they officially declare as motivation more dependency on currency A to have less dependency on currency B, if they can get B indirectly along a middleman (see Fed - ECB - China), then that declaration is just a scam. I came across a good example of these middlemen strategies: Greeces banks were bailed out by 2 German banks (Germany = ECB home base), but actually used FED loans to do so. Media then touts Germany bails out Greece, but actually Fed bailed out Greece. The IMF is also such a middleman. Now, why these currency / fx swaps between central banks? They could just buy the currency they need on their local market. But if speculators drove a currencies price higher, it would cost them more. So, central banks set up intra-currency swap lines. To bypass local markets. To bypass speculators. So the speculators miss that demand on their supply/demand, and lose. This, is effectively a trade war. Between governments and speculators. I rather prefer trade wars between governments, that's competition at work for them, and the least crap government "wins" haha. So actually, things got much worser the past decade.
"They plunder, they slaughter, and they steal: this they falsely name Empire, and where they make a wasteland, they call it peace." Publius Tacitus, Roman orator, lawyer and senator Original Latin: Auferre, trucidare, rapere, falsis nominibus imperium; atque, ubi solitudinem faciunt, pacem appellant
The Australian Dollar: An Unlikely Trade War Casualty https://www.zerohedge.com/news/2018-08-08/australian-dollar-unlikely-trade-war-casualty
The tariffs imposed by President Trump have claimed more jobs, this time at a consumer-electronics manufacturing plant in South Carolina. http://fortune.com/2018/08/07/trump...victim-south-carolina-tv-manufacturing-plant/ So much winning!
Russia to treat further US sanctions as an open declaration of economic war – PM https://www.rt.com/news/435595-sanc...notifications&utm_campaign=push_notifications Prime Minister Dmitry Medvedev has warned the US that any sanctions targeting Russian banking operations and currency trade will be treated as a declaration of economic war and retaliated against by any means necessary. “If they introduce something like a ban on banking operations or the use of any currency, we will treat it as a declaration of economic war. And we’ll have to respond to it accordingly – economically, politically, or in any other way, if required,” Medvedev said during a trip to the Kamchatka region. "Our American friends should make no mistake about it,” he emphasized.
Plenty of ink has been spilled lionizing Russian's cyberwarfare capabilities, but I'd be wary of US retaliation when the kid gloves come off. If some 'mysteriously improbable computer malfunction' takes out the electrical grid on the US Eastern seaboard, you shouldn't want to be anywhere near St. Petersburg, Smolensk or Kursk the week afterwards. All three cities host multiple Type RBMK-1000 nuclear reactors, the same 2nd Gen design that was used in Chernobyl. In the late 1990s pre-Putin, US aid paid for a modernization/safety program of the RBMK fleet, one of the anti-proliferation measures that went with the "Megatons-to-Megawatts" program. Who knows if they left any surprises behind? There may even be a few Allen-Bradley/Rockwell PLCs running critical systems in these old-school light-water reactors with their positive void coefficients.
World Markets Roiled As Turkey Currency Crisis Goes Global https://www.zerohedge.com/news/2018-08-10/world-markets-roiled-turkey-currency-crisis-goes-global
The Turkish Lira has been depreciating against the Euro since Erdogan's pseudo-counter-coup in 2016,. The EURTRY rate on Aug 10th 2016 was 4.17 Lira per Euro, it is now 7.46 Lira per Euro. Erdogan is going on TV and asking Turks to sell their Gold, US Dollars and Euros and convert them into Lira. As you can imagine, almost nobody is listening. Turks are exchanging their Lira for anything of value as fast as they can. If this isn't a gorgeous display of Gresham's Law at work, I don't know what is.
Wait, You’re Sanctioning Us?! https://fpif.org/wait-youre-sanctioning-us/ The (world) community can act now to isolate Trump, his businesses, and everyone who collaborates with his terrifying nonsense by serving in his administration. ...
Turkey raises tariffs on some US imports in response to economic 'attacks' https://www.rt.com/news/435972-turk...notifications&utm_campaign=push_notifications
