Russia Drafts A Bill That Will Eliminate The US Dollar From Trade – Episode 755

Watch Us Trade
Putin Signs Bill To Dump Dollar
Click On Picture To See Larger Picture

The bailout for Greece might be in jeopardy unless they vote in a government the central bankers want. Greece loses 17,000 jobs, the economy is collapsing and the people are much worse than before. Euro zone growth falters. Construction spending is up but lumber prices and demand are down. US manufacturing declines. The stock market crashes again. Major banks are laying off mass amount of employees. Global trade declines, Putin now signing bill that will eliminate the dollar from trade. Most of the BRICS countries are trading in their own currencies. The situation in Ukraine is getting worse the country is collapsing and the US government central bankers are pushing for war. US is sending a predator drone to Latvia. USS Donald Cook is in the Black Sea working with Ukraine on operation Sea Breeze 2015. Russia ships in military hardware but says not using it to fight the IS. DHS is preparing plans to deal with a cyber pearl harbor, be prepared for a false flag.

Check Out The X22 Report Spotlight YouTube Channel –  X22Report Spotlight

Please check the Sentinel Alerts for the latest news on the economic collapse. The Sentinel Alerts are updated throughout the day. If you haven’t already, go to “The People” and join the community of people who are helping each through the economic collapse.

Current News – 09.01.2015


Third Greek Bailout Suddenly In Jeopardy: Creditors Warn Cash May Be Delayed If Elections Don’t Go As Desired

  • “Greece’s international creditors may delay the first review of the country’s bailout until November, multiple EU sources told MNI Tuesday, pushing talks on potential debt relief further down the road as Greece prepares for snap national elections on September 20.”
  • And just in case it was not clear that Greek sovereignty is now entirely conditional on the Greek people voting precisely as the Troika requires, and for a continuation of the austerity terms delineated in the 3rd Greek bailout, MNI reports that “officials will also stress that any new government that emerges from this month’s poll must meet the current bailout terms in order to release the E3 billion pending from the its first loan tranche and have already warned the interim government to continue with the implementation of prior actions set for September.”
  • In other words more of the same: Greece pretending to reform, creditors pretending to inject funds into the Greek economy:


Greece Loses 17,000 Jobs in July, Most Since 2001

  • The Greek Economy Lost 17,000 Jobs in July, the Worst Result Since 2001.  In addition, another 40,000 people went to work part time from full time, with a consequent reduction in salary.
    Industrial production recorded a record drop in July,

In addition, capital controls, have resulted in record job losses according to data published on Monday the National Confederation of Commerce and Companies (ESEE ).


  • Source:


German unemployment rate ticks up in August

  • Germany’s unemployment rate crept up to 6.4 percent in August,
  • The agency reported Tuesday that 23,000 more people were jobless in August over July, for a total of 2.796 million people out of work.


Eurozone factory growth lower than expected

  • Eurozone manufacturing growth eased last month, despite factories barely raising prices,
  • Markit’s final manufacturing Purchasing Managers’ Index came in at 52.3 in August, below an earlier flash reading that suggested it had held steady at 52.4.


China Takes “10 Steps Back,” Slaps 20% Reserve Requirement On Currency Forwards

  • starting October 15 banks will have to hold the equivalent of 20% of clients’ FX forward positions with the PBoC, where the money will sit, frozen, for a year, at 0% interest.
  • Obviously, that will drive up the cost of taking speculative positions which the PBoC hopes will help narrow the gap between onshore and offshore yuan and bring down volatility, “It will also remove lots of speculative trades that aim at short-term gains as the reserves have a minimum lock-up period of one year,” adds Stan Chart’s Becky Liu.


US Manufacturing Plunges To 2-Year Lows As New Orders, Employment Tumble 

  •  Markit PMI printed 53.0 (from 53.8) – its lowest in almost 2 years, led by a plunge in the employment subindex. .  Markit notes, “U.S. manufacturing sector continues to struggle . On the heels of Milwaukee and Dallas Fed weakness, ISM Manufacturing printed a disastrous 51.1 (vs 52.5 expectations) – the lowest since May 2013 New Orders plunged to its lowest since 2013, which is a problem given the massive inventory builds that have saved the world in the last few months.



Peak Construction Spending? 

  • Construction spending grew at 13.7% YoY in July. It has only grown at a faster pace than that once – at the very peak of the idiocy in Q1 2006.
  • So that got us wonderinghow is it that Construction Spending is surging as Lumber Prices are collapsing?


  • The answer is simplelag… and we have seen this picture before… and it did not end well.
  • Clearly, the exuberant construction industry jumps on Fed-induced signals of recovery and mal-invests en masse… until reality bites again.


Mass Layoffs To Hit Banking Industry As Consumers Ditch Big Box Banking

  •  Mass layoffs have been announced by almost every major institution in the world and this is just the beginning.

The nation’s second-largest bank has pulled the plug on hundreds of branches 


Target Corp. Technology Operations – 235

Penn West Petroleum – 400 Employees / Contactors

Brigham and Women’s Hospital – 100

John Deere in the Quad Cities – 180

Hanergy Thin Film Power ( International ) – 2,000

Two-Thirds Of Global PMIs Deteriorate In August

  •  comparing August to July PMI data saw a deterioration in 19 of the 28 countries, or more than two thirds, suggesting the global economy is entering recession 


Global Trade In Freefall: South Korea Exports Crash Most Since 2009

  • While the market’s attention overnight was focused on China’s crumbling manufacturing and service PMI, data which was already hinted in the flash PMI reports earlier in August, the real stunner came not from China but from South Korea, which last night reported an unprecedented 14.7% collapse in exports, far worse than the -5.9% consensus estimate, and more than 4 times worse than July’s 3.4%.
  •  It also confirms what we reported just one week ago when we said that “Global Trade Is In Freefall”.
  • Putting South Korea plunging trade in context, this was the worst monthly decline since August 2009, and was coupled by an 18.3% tumble in imports, the biggest drop since February.  in December 2008 (1.30x). 


IMF’s Lagarde sees weaker than expected global economic growth

Gold Up 3.5% In August, Stocks Fall 6% to 12%

In The Month Of September 2015 We Officially Enter The Danger Zone

  • Throughout history, there have only been 11 times when the S&P 500 has declined by more than five percent during the month of August.  When that has happened, the stock market has almost always fallen in September as well…

September is the only month in which the S&P 500 fell more frequently than it rose. What’s more, in the 11 times that the S&P 500 fell by more than 5 percent in August, it declined in 80 percent of the subsequent Septembers, and fell an average of nearly 4 percent.

.So how far could stocks eventually fall?

  • Hussman is projecting that we could ultimately see the market decline by more than 50 percent…
  • One thing that could accelerate stock market losses this time around is the fact that people have been borrowing lots and lots of money to buy stocks.  That works when the stock market just keeps going up


Some lenders, including Bank of America Corp., are issuing margin calls to clients after the global market drubbing of the past week, forcing investors to choose between either putting up more money or selling some of the securities underlying the loans.

Other banks too sent out margin calls, including U.S. Trust, Morgan Stanley, and Wells Fargo, according to the Journal. With margin calls mucking up the scenario, spooked investors are trying to lower their leverage before they’re forced to, and the boom in securities-based lending appears to be over. And the wealth units of the banks that gorged on these loans are likely to see their profits dented.

If that continues, a much crummier thing happens: margin balances reverse. And the last two times they did after a majestic record-breaking spike, the stock market crashed.


Russia, China moving towards strategic energy alliance, Putin says

  • Moscow and Beijing are moving towards the formation of a strategic energy alliance, Russian President Vladimir Putin said.
  • “Our countries are consistently moving towards the creation of a strategic energy alliance that, I am sure, will play a significant role in international economic relations,


Putin says dump dollar

  • Russian President Vladimir Putin has drafted a bill that aims to eliminate the US dollar and the euro from trade between CIS countries.
  • This means the creation of a single financial market between Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and other countries
  • “This would help expand the use of national currencies in foreign trade payments and financial services and thus create preconditions for greater liquidity of domestic currency markets”, said a statement from Kremlin.




Kiev Riots Herald the Coming of Chaos to Ukraine

  • The economy is in free fall, with projections that GDP will contract this year by 15% (more than double the contraction of last year).
  • The currency is being artificially propped up by capital controls. Were these to be lifted, it would collapse.
  • With output collapsing and inflation at 60%, living standards have plunged.
  • Meanwhile Ukraine’s government refuses to negotiate with the leaders of the Donbass, and maintains an army in the field of 90,000 men.
  •  Ukraine refuses to withdraw or demobilise its army,
  • The result is that an army that neither advances nor retreats 
  • However, though the government’s support has collapsed,
  • Over the last few months we have witnessed a succession of violent incidents involving the extremist neo-Nazi militia Right Sector,


The war in Ukraine’s east has come back to Kiev

Pentagon deploys drones to Latvia to maintain ‘security & stability’

  • the Pentagon has deployed two MQ-1 Predator long-range unmanned surveillance drones and 70 airmen to Latvia on a training mission, the US Department of Defense said.


US Needs to Upgrade Old Radars to Detect Russian Missiles – Carter

  • Radars at the Thule military base, the United States’ most northern base located in Greenland, were installed during the 1950s, Carter noted, and need to be modernized if they are to operate as an adequate early warning system.
  • “Russians have long range nuclear-armed ballistic missiles,” Carter said. “We [the United States] have to upgrade those [North Pole] radars… to cue missile defenses so that our missile defense interceptors can intercept them in flight.”
  • “That is [North Pole] one of the places that ballistic missiles would overfly if they were en route to the United States,”


US Missile Destroyer Arrives in Ukraine’s Black Sea Port of Odessa

  • The Arleigh Burke-class guided missile destroyer will take part in the Sea Breeze-2015 international naval drill in Ukraine’s 
  • The USS Donald Cook is armed with two Aegis ballistic missile defense system launchers with up to 56 nuclear-capable Tomahawk cruise missiles.
  • It also carries a SH-60 Sea Hawk helicopter and has a crew of 337.
  • The Sea Breeze-2015 land, naval and air drills, to run until September 12, are also designed to improve interoperability between the Ukrainian Naval Forces and the Naval Forces of NATO member and partner countries.


Border crisis of ‘biblical proportions’ in Europe

  • The 28-nation bloc of the European Union has been seeing chaos on its borders, due largely to tensions in the Mideast and Asia and the flight of thousands of refugees, leading at least one political watcher to characterize the ensuing atmosphere as a crisis of “biblical proportions.”
  • Waves of migrants are hitting the EU’s borders from Greece, Italy and Hungary, fleeing tensions in Afghanistan, Iran and Syria


Greece seizes ship allegedly loaded with weapons headed from Turkey to Libya

  • Greek authorities on Tuesday took control of a cargo ship allegedly loaded with arms that was on route to Libya from Turkey.
  •  it was carrying a large cargo of weapons and explosives.”


Russian Military Forces Arrive In Syria, Set Forward Operating Base Near Damascus 

  • Russian fighter pilots are expected to begin arriving in Syria in the coming days, and will fly their Russian air force fighter jets and attack helicopters against ISIS and rebel-aligned targets within the failing state.


Russian military denies reports of intervention in Syria – source to RT

  • No Russian jets were deployed to Syria in order to launch attacks against Islamic State militants
  •  “The Russian Air Force is at its permanent bases and carrying out normal troop training and combat duty.


Dutch ground troops could be sent to Syria: CDA leader

  • Dutch soldiers could be deployed in Syria .   the Netherlands enlarging its mission in the fight against the so-called islamic state and ‘if that involves sending in soldiers on the ground, we must be prepared to do so’,


Cyber Attacks


Homeland Security Preparing For ‘Cyber Pearl Harbor’?

  • Some have warned a cyberattack essentially could be a “cyber Pearl Harbor,” whereby a hacker or rogue nation takes down the power grid for weeks. The threat increases each year as the grid becomes more and more connected to the Internet.
  • Last year NSA Director Michael Rogers told the House Intelligence Committee that cybersecurity was a big concern.
  • “There shouldn’t be any doubt in our minds that there are nation-states and groups out there that have the capability . . . to shut down, forestall our ability to operate our basic infrastructure, whether it’s generating power across this nation, whether it’s moving water and fuel,” he said. “Those tend to be the biggest focus areas that we have seen.”
  • Hackers “understand that if you take down the grid, every other network that matters will collapse with it,” Thompson said.
  • “The Department of Homeland Security identifies 16 ‘critical infrastructures’ supporting the U.S. economy, but the electric grid is the most basic — everything else from medicine to finance to transportation depends on it,” Thompson wrote. “Thus, it is the most ‘lucrative’ target for hackers seeking to achieve devastating effects.”


False Flags

World War 3 Has Already Begun