Loading ...As posted the other day=CBs have entered the “delirium phase”…[as per David Stockman}
China quietly joins Asia’s currency wars to avert deflation
China is exposed like a sore thumb as countries devalue on all sides, from Russia, to Japan, Indonesia and Malaysia
China has quietly joined Asia’s escalating currency wars, steering the yuan down by 2pc against the dollar since early November Photo: Reuters
Ambrose Evans-Pritchard By Ambrose Evans-Pritchard, International Business Editor7:12PM GMT 22 Dec 2014 Comments35 Comments
China has for the first time warned openly about the excessive strength of the Chinese yuan, a sign that the country may be shifting its exchange rate policy as deflation takes hold and currencies slide across Asia.
Yi Gang, the deputy governor of the People’s Bank of China (PBOC), said the yuan’s rise had been “very fast” over the past year as it surges in tandem with the US dollar, making it the world’s second strongest currency.
China’s real effective exchange rate (REER) has risen for six months in a row, tightening the screws on struggling exporters with wafer-thin margins. It rose 2.3pc in trade-weighted terms in November alone as countries devalue on all sides, leaving China exposed like a sore thumb. The effect is to tighten China’s monetary conditions into the downturn.
D’oh!
Ukraine Central Bank Conned Into Swapping Its Gold For Lead Bricks
Just when one thought the story of Ukraine and its (now non-existant) gold could not get any more surreal, it did.
As a reminder, it was about a month ago when we learned courtesy of an interview on Ukraine TV with the country’s central bank head Valeriya Gontareva, that Ukraine’s gold was virtually all gone, when she made the stunning admission that “in the vaults of the central bank there is almost no gold left. There is a small amount of gold bullion left, but it’s just 1% of reserves.”
That in itself would have been sufficient to explain why just a few short days later, the Netherlands shocked the world when it announced it had secretly repatriated 122 tonnes of gold from the NY Fed, and had the story of Ukraine’s missing gold ended there (or even with the criminal probe launched by Ukraine whether the central bank head had abused her power and misused her office when she “intentionally committed an extremely unfavorable transaction for the gold and forex reserves of Ukraine”), it still would have been one of the most bizarre, surreal stories of 2014.
Luckily, the story just got far better, and far, far more bizarre and surreal.
As Bloomberg reports, Ukraine opened a criminal probe after several gold bars at the central bank’s storage in the southern city of Odessa turned to be painted lead.
http://www.zerohedge.com/news/2014-12-22/ukraine-central-bank-conned-swapping-its-gold-lead-bricks
Richard 640 17:44 The Importance of Romans 11 in the New Testament
I agree with John Hagee, but I disagree with Ekhardt and Cook. The fault is not in the New Testament, the fault is in misinterpretations of the New Testament. This is what John Hagee, a new and old Testament scholar, keeps pointing out. If the New Testament is understood, then observing Christians would understand that the Jews have a covenant with God that will never be broken, and this covenant promised them that they will remain the chosen people of God, and through them, and them alone, salvation comes. They, in fact, cannot be replaced by anyone. It is through them that Christ (Yeshua) appeared, and through them that Yeshua’s message was transmitted from one end of the earth to the other. Hagee has it right, and he would not be in agreement with Ekhardt and Cook on the New Testament, but would say that the New Testament has been misinterpreted and twisted out of shape by anti-Semites to fulfil their agenda, not God’s.
Paul, whose Hebrew name is and remains, Shaul, warns the gentiles who have been grafted into the Jewish tree that they should be aware that they owe their salvation to the Jews, and should act accordingly. If you want to verify this, read Romans 11. Romans 11 is the key to understanding the importance of the Jews to the spiritual past and the spiritual future. And as Hagee often points out we can find God’s eternal promise in Geneis 12:3. “He who blesses you (the Jewish people) will be blessed, and he who curses you will be cursed.” And if you look at history closely, you will see that God has cursed nations that have cursed the Jews, and blessed nations that have blessed them. I think anyone in doubt about the intentions of the New Testament regarding the Jews should read Romans 11. In Chrisitain congregations who believe they have replaced the Jews as the chosen people never read Romans 11 for obvious reasons. Organizations, like Christians United For Israel, know Romans 11 inside out.
I would also advise not letting other people read the New Testament for you and letting them tell you what it is about. I notice that Cook and Eckhardt never mention Romans 11.
Buygold @ 10:44 “…same as the old week.”
I kinda thought it looked like GroundHog Week…again. Deja Deja Deja…
North-glad u liked it-Professor A. Roy Eckardt has some excellent books on the subject
The New Testament and Christian antisemitism[edit]
Main article: Christianity and antisemitism
A. Roy Eckardt, a pioneer in the field of Jewish-Christian relations,[3] asserted that the foundation of antisemitism and responsibility for the Holocaust lies ultimately in the New Testament.[2] Eckardt insisted that Christian repentance must include a reexamination of basic theological attitudes toward Jews and the New Testament in order to deal effectively with antisemitism.[4]
According to Rabbi Michael J. Cook, Professor of Intertestamental and Early Christian Literature at the Hebrew Union College, there are ten themes in the New Testament that are the greatest sources of anxiety for Jews concerning Christian antisemitism.
The Jews are culpable for crucifying Jesus – as such they are guilty of deicide
The tribulations of the Jewish people throughout history constitute God’s punishment of them for killing Jesus
Jesus originally came to preach only to the Jews, but when they rejected him, he abandoned them for gentiles instead
The Children of Israel were God’s original chosen people by virtue of an ancient covenant, but by rejecting Jesus they forfeited their chosenness – and now, by virtue of a New Covenant (or “testament”), Christians have replaced the Jews as God’s chosen people, the Church having become the “People of God.”
The Jewish Bible (the so-called “Old Testament”) repeatedly portrays the opaqueness and stubbornness of the Jewish people and their disloyalty to God.
The Jewish Bible contains many predictions of the coming of Jesus as the Messiah (or “Christ”), yet the Jews are blind to the meaning of their own Bible.
By the time of Jesus’ ministry, Judaism had ceased to be a living faith.
Judaism’s essence is a restrictive and burdensome legalism.
Christianity emphasizes excessive love, while Judaism maintains a balance of justice, God of wrath and love of peace.[5]
Judaism’s oppressiveness reflects the disposition of Jesus’ opponents called “Pharisees” (predecessors of the “rabbis”), who in their teachings and behavior were hypocrites (see Woes of the Pharisees).
Cook believes that both contemporary Jews and contemporary Christians need to reexamine the history of early Christianity, and the transformation of Christianity from a Jewish sect consisting of followers of a Jewish Jesus, to a separate religion often dependent on the tolerance of Rome while proselytizing among Gentiles loyal to the Roman empire, to understand how the story of Jesus came to be recast in an anti-Jewish form as the Gospels took their final form.[6]
http://en.wikipedia.org/wiki/Antisemitism_and_the_New_Testament
Richard 640 21:43 December 21
Thank you for that detailed post. I admire John Hagee a lot; a stand-up guy who will not be bullied, like our present prime minister of Canada, Stephen Harper.
Talk about Poop. DOW up 900 points last 3 days.
click chart to enlarge
Me big man……Him Little Man
Obama: Putin No ‘Chess Master,’ Not ‘Someone Who Rolled Me’
Read Latest Breaking News from Newsmax.com http://www.Newsmax.com/Newsfront/Obama-Putin/2014/12/21/id/614288/#ixzz3Mf4QA7Et
Re Joe
I gather the dreaded lung cancer got him, somewhat ironically, or perhaps deliberately his last album was called “Fire it Up” !!!!!!
Very good it is too.
A quick check of the Unrigged……Not, Mkts
Sm…..Dow plus 100 …Good
Rates…..dn a bit….Good
Dollar….well bid….Good
Oil…..on its arse….great
Pm’s ….Stox and metals ….on their arses…..Great.
All is well once more in Never never land.
RIP Joe
Saw him a few times and have lots of his Music.
On a lighter note- the best description of football ever
A guy took his blonde girlfriend to the Grey Cup game. They had great seats right behind their team’s bench.
After the game, he asked her how she liked it.
“Oh, I really liked it,” she replied, “especially the tight pants and all the big muscles, but I just couldn’t understand why they were killing each other over 25 cents.”
Dumbfounded, her boyfriend asked, “What do you mean?”
“Well, they flipped a coin, one team got it and then for the rest of the game, all they kept screaming was… ‘Get the quarterback! Get the quarterback!’ I’m like…Helloooooo? It’s only 25 cents!”
Auandag
Not just Obama look at the Arabs too. They wanted a pipeline through Syria to Europe which was denied and which started up financing Rebels and blaming Assid for crimes the rebels aka al Qaeda committed. Syria backs Russia Russia back Syria. Either way it would affect their oil production and affect their economy and the US is playing favorites. Yet they complain with Russia and Ukraine after what they did to the citizens of Syria.
Nypd
Two cops killed in retaliation for Garner
Alex Me Copper
There is a growing militarization of police. They are treating US citizens as badly or worse. Show us your papers, in your own country. There is also a growing resentment for illegal immigration which polititiams also are in conflict with the country as a whole and may be affecting attitudes toward duel citizenship esp where the core citizenship is not in the U.S. the border patrol are having a heck of a time trying to hold back thousands trying to get across the border on a daily basis while a Obama system is in conflict of interst. One of my son in laws is a naturalized citizen his parents American citizens and while traveling across the border going through Florida one of them have him a hard time and I called her on her misstatements which she had to backtrack and then ask her why ” calmly” she said this and that she couldn’t answer. Just particular personalities and they probably feel that no one will bother for one you can ask to see their supervisor two make a complaint. If you are a American citizen you are equal to them with your rights and a Supreme Court will back that.any comments they make like that are irreverent and don’t even need responding to other than asking him what is the revelance of your question.
As far as militarization of cops it will cause civil unrest and Two cops in NY have just been shot to death in retaliation to Garners murder by cops that was not realizes with any arrests. When comes to cope most innocent or those not involved will suffer because of another.
The Us is in Control of All Markets-the low price of oil is no accident
Is the US trying to do to Putin and Russia what it did to the Ukraine. We will find out in six months
Equisetum @ 13:10
… and a Merry Christmas to you as well!
Looks like the opening of Cuba will greatly benefit Sherritt and I imagine other companies too. We should have done it many years ago.
Alex Valdor @ 13:03 re
re your…
“I must say that it is rare that I have been treated that way …. usually border agents are quite friendly and welcome our return to the country we have chosen to become citizens of.”
Comment:
That could be another sign of major reversal. Plus that video earlier by Wanka. Change of attitude. No more welcome mat for incoming people.
And bankers leaving the futures market may be another major reversal if that trend grows.
ipso_facto @ 10:08. Your posting about Sherritt is like a message from the past.
In the 1970’s when we were living in Edmonton, Alberta, as a home base for natgas pipeline route selection in the North, the investment darling among people I associated with was Sherritt Gordon. Sherritt had significant assets near Edmonton and, as I recall, we had a happy investment experience with Sherritt at that time. It is not an operation I would invest in now, but the memories are pleasant just the same.
On an unrelated matter, wanka’s posting at 9:48 brought back memories over the years of many pleasant crossings of our southern international border. It is less pleasant to adjust to the idea that these border crossings are going to be a thing of the past for us. Cheers to you for the Christmas-New Years period. Equiz.