China’s SWIFT System Ready To Launch By October

Peter's Commentary China has just completed its alternative to the SWIFT system for international payments. It will be ready to launch this in September or October this year. From ZeroHedge, Tyler Durden, March 9, 2015 One of the recurring threats used by the western nations in their cold (and increasingly more hot) war with Russia, is that Putin's regime may be locked out of all … [Read more...]

Gold Demand By China Appears To Be Double Official WGC Figures

Peter's Commentary Koos Jansen has done a lot of research into gold demand by China. He has found that both in 2013 and 2o14, that the amount listed as China's gold demand by the World Gold Council is approximately half the figures reported by China itself. And China is also probably under-reporting both its gold imports and its domestic production. From BullionStar.com, Koos Jansen, March … [Read more...]

Greeks Threaten To Use Plan B

Peter's Commentary: The Greeks are pushing hard. They want a new agreement with the euro zone. The Greek Defense Minister Panos Kammenos threatened that they could always look somewhere else for help. "What we want is a deal. But if there is no deal - hopefully (there will be) - and if we see that Germany remains rigid and wants to blow apart Europe, then we have the obligation to go to Plan … [Read more...]

The Top 1% Worldwide

Peter's Commentary: The top 1% of the world's population have 48% of the world's total wealth. The top 20% of the world's population have 94.5% of the world's wealth. Which leaves the remaining 80% with just 5.5% of the world's wealth. And if you're not rich, the trend is in the wrong direction. From Chen Weihua, China Daily USA, January 27, 2015: "Income inequality was a … [Read more...]

24 Year Lowest Growth Rate For China

China's growth rate has sunk to a 24 year low at 7.4%, announced the National Bureau of Statistics yesterday. From wsws.org, Will Morrow, January 21, 2015: "The announcement further punctures the illusion that China will provide a driver for world economic growth in 2015 and beyond. The country is being drawn into the deepening crisis produced by the global breakdown of capitalism … [Read more...]

$500 Billion Trade Between China and Latin America

The USA is becoming more and more isolated. China and Latin America have set goals for bilateral trade to reach $500 billion over the next 10 years. From China Daily, January 9, 2014 The Chinese President "made the remarks at the opening ceremony of the first ministerial meeting of the Forum of China and the Community of Latin American and Caribbean States (CELAC)." He said China's direct … [Read more...]

Dow Tops 18,000 – Contradicts World Economy

Peter's Commentary: Oil drops. The Rouble drops. The Euro is in trouble and is about to break its support. But the Dow keeps going and tops 18,000. From www.wsws.org, Nick Beams, December 27, 2014 The Dow at 18,000: Contradictions mount in world economy 27 December 2014 As the year draws to a close, there is an ever-widening gap between what is taking place in financial markets and … [Read more...]

Spare US Dollars

Peter's Commentary China has accumulated a large amount of US Dollars, almost $4 trillion. This article provides a "heads-up" about what China is doing to try to diminish its pile of dollars. From Goldseek.com, Alasdair Macleod, December 12, 2014 Last week I wrote that contrary to the prevailing mood US dollar strength could reverse at any time. This week I look at another aspect of … [Read more...]

Russian Oil Sold To China Using Renminbi

Peter's Commentary There is a pronounced trend by Russia to receive payments in alternative currencies rather than the US Dollar. Direct transactions using Russian and Chinese currencies rose from $307 million in September, to  $5.2 billion in October. That's a large and fast increase.   Photo: Eric Mueller  From UPI.com, Ed Adamczyk, Nov 14, 2014: Russian President … [Read more...]

Chinese J-31 5th Generations Fighters to Use Russian Engines

Peter's Commentary China and Russia continue to get closer. Not only are the Russians going to be selling jet engines to China, but Russia must not be so concerned about China copying its technology. From Ria Novosti via defencetalk.com, Thursday Nov 13: A Russian-made RD-93 engine will power the Chinese J-31 fifth generation fighter, Rosoboronexport official told RIA Novosti … [Read more...]