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Chinese yuan becomes IMF reserve currency, first new addition since Euro in '99

yuan chino
© Desconocido
The Chinese yuan has been added to the IMF reserve basket, becoming the first currency to be added to the list since the emergence of the euro in 1999.

The official entry was made Saturday, bringing to a close, at least partially, Beijing's years-long struggle for international acceptance on the sort of level enjoyed by the US dollar. The currency now joins the big four: the US dollar, the euro, the yen, and the British pound.

The decision means the Chinese yuan will now be used as one of the International Monetary Fund's lending currencies in times of emergency economic bailouts. This sort of internationalization is in line with China's wish for increased legitimacy of its currency.

The move is also evidence of China's growing role as a power to challenge the global economic dominance of the United States.

Comment: The inclusion of the Chinese yuan is an event is far more important than the mainstream media has let on. According to James Corbett of The Corbett Report, it is every bit as significant as the implementation of the Bretton Woods agreement, with even farther-reaching consequences for the world.

"The yuan was officially added to the IMF's SDR basket today, which may not be world-shattering in and of itself. But when combined with the revival of SDR-denominated bonds there can be no doubt that the central bankers are making their play for a global currency. Unfortunately, most people have no idea what SDRs are, let alone the role they are going to play in the formation of the global government."



Light Sabers

Russia winning 'information war' - or just telling the truth?

Russian's reading newspaper
© Ramil Sitdikov / Sputnik
Western Cold War fever broke into beads of sweat this week with yet more doom-laden reports warning about Russia 'winning the information war'. That's a revealing way to look at journalism and news - as 'warfare'.

But is Russia really winning an "information war"? Funny how you don't ever hear Russian leaders speaking in those terms.

Comment: "If you're not careful, the newspapers will have you hating the people who are being oppressed, and loving the people who are doing the oppressing."~ Malcolm X


Star of David

Israel seals off Palestinian territories and approves new settlements ahead of Jewish new year

Israeli soldiers
© Karamallah Daher / Reuters
Israel has locked the West Bank and Gaza Strip borders citing safety concerns ahead of the Jewish new year. Meanwhile amid preparations for celebrations Israel approved plans for the construction of yet another 98 homes for settlers in the occupied West Bank.

The border closure took effect on Sunday at 12:01am. Only in the cases of medical and "humanitarian" emergencies will people be allowed to cross the borders, with the prior approval of the Coordinator of Government Activities in the Territories (COGAT) the Israel Defense Forces (IDF) said.

The Rosh Hashanah holiday begins Sunday at sundown and ends Tuesday night. The restrictions will be lifted on Tuesday at 11:59 p.m., or depending on a "situational assessment."

Vader

Who really controls the world?

pyramid dollar
Since I entered politics, I have chiefly had men's views confided to me privately. Some of the biggest men in the United States, in the field of commerce and manufacture, are afraid of something. They know that there is a power somewhere so organised, so subtle, so watchful, so interlocked, so complete, so pervasive, that they better not speak above their breath when they speak in condemnation of it.

- Woodrow Wilson, 28th President of the United States (1856-1924)
So you see, my dear Coningsby, that the world is governed by very different personages from what is imagined by those who are not behind the scenes.

- Benjamin Disraeli, British Prime Minister (1804-1881)
The advent of the industrial revolution, the invention of a banking system based on usury, and scientific and technological advancements during the past three centuries have had three major consequences. These have made the incredible concentration of wealth in a few hands possible, have led to the construction of increasingly deadly weapons culminating in weapons of mass destruction, and have made it possible to mould the minds of vast populations by application of scientific techniques through the media and control of the educational system.

Wall Street

The Fed's destabilizing, wealth-shifting policies amount to the biggest heist in human history

Janet Yellen
Head of the Fed Janet Yellen: Who would believe that this sweet looking lady is responsible for one of the greatest and most criminal transfers of wealth in history - and exactly why she was selected for her position in the first place.
Here's your economics quiz for the day:

Question 1 - What do you think would happen if you put $3 trillion into the financial system?
a - Stock prices would rise

b - Stock prices would fall

c - Stock prices would stay the same
Question 2 - What do you think would happen if you put $3 trillion into the economy? (Via fiscal stimulus for infrastructure projects, extended unemployment benefits, food stamps, etc)
a - Activity would increase and the economy would grow

b - Activity would slow and the economy would shrink

c - Activity would stay the same, so growth would remain unchanged
If you picked "a" for both questions, then pat yourself on the back because you got the right answers.

Now try to answer this one, last "bonus" question:

Question 3 - If adding money to the financial system boosts asset prices, and adding money to the economy boosts growth, then why did the Fed add $3 trillion to the financial system expecting the economy to grow?

Comment: For further reading about this institution of, by and for the elites:


Vader

Trailer Trash Killary describes Sanders supporters as 'basement-dwellers' & 'baristas' in leaked recording

U.S. Democratic presidential nominee Hillary Clinton listens as U.S. Senator Bernie Sanders
© Brian Snyder / Reuters
Democratic presidential candidate Hillary Clinton made forthright remarks about Bernie Sanders' supporters during a private meeting with fundraisers, an audio from which has been leaked following an email hack.

"There's just a deep desire to believe that we can have free college, free healthcare, that what we've done hasn't gone far enough, and that we just need to, you know, go as far as, you know, Scandinavia, whatever that means, and half the people don't know what that means, but it's something that they deeply feel," Clinton said during a Q&A with potential donors in McLean in Virginia, in February, when she was still in a close primary race with Sanders.


Comment: Many nations have publicly funded healthcare and higher education, and it works very well for them. Killary lives in a different reality.


Star of David

How Kiev reacted to Israeli reminders of Ukrainian involvement in the Holocaust

poland holocaust mourners
Ukraine's hostile reaction to the Israeli President's reminder of the role of Ukrainian nationalists like Stepan Bandera and Roman Shukhevych in Nazi atrocities and in the Holocaust shows a Ukraine that is becoming steeped in neo-fascist and neo-Nazi thinking.

Just when one thought that the tragic-farce of post-coup Ukrainian politics couldn't get any lower, one only has to look at the latest statements from the criminals running the prison that is Kiev politics to realize that it gets worse and worse.

Recently Israeli President Reuven Rivlin visited Kiev where he spoke before the Rada (parliament). He told his audience some very grim truths about the history of the Ukrainian nationalist Nazi collaborators. Vile genocidal men like Stepan Bandera and Roman Shukhevych, who have been given posthumous state honors, had monuments erected to their works and streets named after them, are some of the most disgustingly evil men in modern history.

Snakes in Suits

Why Russia can't rely on US as a partner against terrorism in Syria

Syria rubble
© Abdalrhman Ismail / Reuters
When analyzing the conflict in Syria there is a danger of lapsing into the mistake of treating it in isolation, thereby losing sight of its wider geopolitical and global context.

Do so and you risk becoming part of Washington's game, in which the conflict is reduced to an evil dictator, Bashar al-Assad, killing and massacring his own people. In this endeavor he is being ably supported by big bad Russia, a country of 145 million people that is led by a government with no respect for human life, so the story goes.

Resisting them, meanwhile, are courageous and freedom-loving 'moderate rebels' - the kind that film themselves beheading 12-year Palestinian children. These so-called moderates enjoy the support of the West, led by Washington, that beacon of civilization, human rights and democracy whose growing involvement in the conflict is necessary to protect innocent human life.

This, in sum, has been the narrative of the conflict presented to the world by Western governments, and eagerly and unquestioningly echoed by a compliant mainstream media. It is a narrative so utterly grotesque in its distortion of reality it is beyond parody.

Quenelle - Golden

SOTT Focus: No 'Hot War', only dirty tricks as U.S. Imperialists go to the wire against Russia over Syria

US empire American imperialism
© The Hawaii Independent
Since the collapse (thanks to the US government and military) of the Russian-American ceasefire in Syria, the US has been doing what little it can with the options it has left, using the international media as its personal lapdog in service to more war and carnage, and threatening to arm terrorists with MANPADS and other heavy weaponry. Meanwhile, its narcissistic inability to 'play nice with others' is causing it to spiral out of control, losing allies around the globe and pushing it into open conflict with massively armed opponents Russia and China.

US losing the Syrian War

In his most recent gaffe as US State Department spokesman, John Kirby effectively channeled his inner Osama Bin Laden to justify, and seemingly incite, terrorist attacks against Russia:
Extremist groups will continue to exploit the vacuums that are there in Syria to expand their operations, which could include attacks against Russian interests, perhaps even Russian cities. Russia will continue to send troops home in body bags, and will continue to lose resources, perhaps even aircraft.
Russian Foreign Ministry spokeswoman Maria Zakharova pointed out the obvious: this is a very poorly veiled and amateurish threat. The fact that Kirby quickly backed down from his comments goes to show that he was perhaps not in a position to make such a threat, but was merely letting his own warped mind take over at the podium in order to get a few quick lashes in.

Snakes in Suits

Terror and totalitarian powers: Will the French state of emergency ever end?

French police
Another day; another terrorist attack: it seems that every day I wake up at the minute there is a new terrorist attack that has shook the European continent, with France being the scene of frequent attacks over the past 19 months. The most recent attack in France (at the time of writing anyway) was on a church in Saint-Étienne-du-Rouvray, Normandy, reportedly carried out by two so-called Islamic State (ISIS) terrorists.

One of the assailants is believed to be Adel Kermiche, an individual who was well known to the French authorities. Kermiche was being monitored by police and was wearing an electronic tag at the time of attack, after being arrested twice last year trying to reach Syria to fight for ISIS. The second attacker is reported to be 19-year-old Abdel Malik Petitjean, an individual who was also known to French authorities and was on a terror watch list after trying to enter Syria via Turkey in June.

This came shortly after the Nice attack on the 14th of July, when a truck was driven into crowds celebrating Bastille Day, killing 84 people and injuring over 300. The attack was reportedly carried out by Mohamed Lahouaiej-Bouhlel, a Tunisian-born delivery driver who was living in France, with ISIS claiming responsibility for the attack. Similar to many other purported terrorist attackers, Bouhlel was shot dead by police before any questions could be asked. Multiple other individuals have also been arrested in relation to the incident.

Comment: For more on the French shenanigans in the world: The 'revolutionary' scramble for Africa: France's 'big idea for the world'