This is a
powerful anticipation from our team for 2014: contrary to the impression given
currently, we are living the last hours of the oil era and that will begin to
become clear in 2014. And the trigger for this shift is the Chinese
government’s decision to power its automobiles by electricity. Given the size
of the fleet, the impact that this decision will have for electric vehicles in
the world in terms of innovative capacity and lower prices, the 33% of vehicles
representing global oil consumption will be severely trimmed, and very quickly:
we anticipate that within five years the trend will have become unstoppable and
that in 10 years petrol/diesel vehicles will compare to electric vehicles as
the Cuban Cadillacs currently compare to modern cars. This turning point is, of
course, a catastrophe for the whole of the oil industry… and automobile if the
latter doesn’t decisively convert to the new religion (electric or other
alternative mode). A catastrophe for the Dollar of course, supported by this
raw material since 1975.
Exxon Mobil
Corp (XOM.N), the world's largest publicly traded oil company by market value,
posted lower-than-expected quarterly profit on Thursday as it failed to offset
declining production with fresh reserves...
The British
economy performed well in 2013 with 1.9 percent GDP growth, and some economists
predict growth of up to 3 percent this year, but warning bells are sounding
over the size of Britain's current account deficit...
The crisis
has caused Spain’s black market economy to grow significantly over the past few
years, according to a study released Wednesday by the union of the technical
staff of the Finance Ministry (Gestha)...
Investors
are lining up to short the Russian ruble as the sell-off in emerging markets
pushes the currency to historic lows. But several analysts see an upside to the
rout, seeing it as "easy money" for the government's coffers...
More than
270,000 of the poorest households in England face council tax hikes of £80 a
year as the government's safety net is withdrawn, a survey of local authorities
has revealed...
Democrats
and labor have been stepping up opposition to lowering trade barriers. Democrat
Reps. Rosa DeLauro and George Miller earlier this month wrote to Obama saying
they’d lined up 151 House Democrats in opposition to fast-track procedures
“that usurp Congress’ authority over trade matters."...
Risky
investment strategies are to be banned, but the European Union has no plans to
split up the continent's big banks. Members of the European Parliament,
however, say gambling on the financial markets will continue...
Germany's
finance minister said on Monday he was open to the creation of a separate
European parliament for countries using the euro, a step that could deepen
divisions within the European Union.
Poland
wants to join the eurozone because it is the political heart of the European
Union, its foreign minister, Radek Sikorski, has said, with the country looking
to enter the single currency by 2020...
Let’s
imagine for a moment that there were violent demonstrations led by
ultranationalists and neo-Nazis in a Western European country, and that those
demonstrators held up posters of figures who had collaborated with the Nazis
during World War II. That they had shouted neo-Nazi slogans and their
leaders had made anti-Jewish and homophobic statements. That these same
protesters had used violence to try and topple the democratically elected
government – and that they had seized government buildings...
RT
C'est une bonne nouvelle. D'après les chiffres publiés par
Eurostat, mercredi 22 janvier, la dette publique de la zone euro s'est établie
à 92,7 % du PIB à la fin du troisième trimestre 2013, contre 93,4 % au
trimestre précédent. « Il s'agit de la première baisse en termes absolus depuis
le quatrième trimestre 2007 », précise l'office des statistiques européennes.
Pour l'ensemble de l'Union européenne, le ratio est en revanche en hausse, passant
de 86,7 % à 86,8 % du PIB...
Le Monde
The bank will increase the yuan’s share of reserves to as
much as 7 percent from 2 percent, Moghalu said in an interview in London,
without specifying a timeframe for the change. Nigeria currently holds about 85
percent of its reserves in dollars, he said...
Bloomberg
La justice européenne vient d'infliger un désaveu cinglant
au Royaume-Uni. La Cour de Justice de l'UE a en effet jugé compatible avec le
droit européen l'interdiction de la vente de titres à découvert sur les marchés
financiers...
La Tribune
U.S. government agents have arrested Charlie Shrem, the CEO
of Bitcoin exchange BitInstant, charging him with laundering money for
customers of online drug bazaar Silk Road...
CNN
- - - - - - - - - - - - - - -
This special Press Review reviews articles from the French
and Engligh-speaking international online media relating to the unfolding
global crisis.
It is delivered freely on a weekly basis to 60,000
recipients worldwide.
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