Obama announces new power plant regulations, to cost $8.4 billion

“In its fact sheet, the White House argues the new rules will create tens of thousands of jobs while ensuring grid reliability.  According to the White House, if the rule is implemented in all 50 states, the average American family can save $85 on their annual energy bill in 2030, though critics say it will raise energy bills.  EPA Administrator Gina McCarthy, drew from her Boston background and called the rollout ‘an especially wicked-cool moment.’  A day earlier, she said the rule would result in an estimated annual cost of $8.4 billion by 2030 and have total benefits, including public-health benefits, of $34 billion to $54 billion per year by then.”

http://www.foxnews.com/politics/2015/08/03/obama-announces-power-plant-regulations/

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Aussie, Kiwi And Loonie Under Commodity Currency Attack

“Recent actions and rhetoric from Commonwealth Prime Ministers, and their respective policy makers, have put their commodity sensitive currencies under pressure.  In Australasia, the kiwi ($0.6592) and Aussie dollar ($0.7370) both linger within striking distance of their six-year lows. In North America, the loonie has fared no better, straddling its own six-year low, while under attack from last week’s Bank of Canada (BoC) rate cut to +0.5%. For now, dealers and investors are willing to trade as if they do not expect any short-term market reprieve for any of these commodity and interest sensitive currencies.”

http://www.investing.com/analysis/aussie,-kiwi-and-loonie-under-commodity-currency-attack-258998

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For U.S. firms, the Iran deal means pistachios, airline parts and carpets

“For Iran, the nuclear deal — once it is fully implemented — would have sweeping benefits, giving it access to foreign investment, trade with oil-thirsty markets in Europe and Asia, and escrow accounts currently holding more than $100 billion from oil sales out of Tehran’s reach.  The Obama administration said Tuesday that the restrictions on U.S. trade and investment would remain in effect with the exception of imports of food and carpets and the export of airplane parts for Iran’s airline, which administration officials said had one of the world’s worst safety records.  The restrictions will leave U.S. oil and gas companies on the sidelines while European and Asian firms invest in exploring in Iran.”

http://www.washingtonpost.com/business/economy/for-us-firms-the-iran-deal-means-pistachios-airline-parts-and-carpets/2015/07/14/cea43524-2a2c-11e5-a5ea-cf74396e59ec_story.html

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How to offshore your credit card with China’s Unionpay

“China created Unionpay 13 years ago to serve as its own interbank for payments.  The unique benefit of Unionpay is that is controlled by the People’s Bank of China and has no relation to the western banking system.  In fact, the Russian government is using the system while they build their own payment system to get away from western systems. One Russian billionaire commented that he got a Unionpay-backed card to protect himself after US sanctions were imposed on Russia.  You can get a Unionpay card by opening a bank account in Mainland China.  Interestingly enough, wealthy Chinese are even using Unionpay for capital flight out of Mainland China.”

http://nomadcapitalist.com/2015/03/02/offshore-credit-card-china-unionpay/

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Pentagon Paying ISIS-Linked ‘Rebels’ $400 per Month to ‘Eventually’ Fight Assad

“The Pentagon announced Monday that it has begun paying ‘moderate’ Syrian rebels up to $400 per month to fight ISIS and eventually the Syrian government.  The program, deemed ‘critical’ by Secretary of Defense Ashton Carter, aims to equip as many as 5,400 fighters within the next 12 months, reports USA Today.  According to Pentagon spokeswoman Elissa Smith, roughly 6,000 Syrians have already expressed interest in the program, with more than half preparing to be vetted. Recently declassified Pentagon documents confirm Western governments’ regional support of al-Qaeda, a terrorist organization now deceptively labeled ‘moderate.'”

http://www.infowars.com/pentagon-paying-syrian-rebels-400-per-month-to-eventually-fight-assad/

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China and Russia Lay Foundation for Massive Economic Cooperation

“Russian and Chinese leaders are considering combining their two countries’ regional economic projects — the Eurasian Economic Union and the Silk Road Economic Belt, respectively.  While meeting at a two-day summit of the Shanghai Cooperation Organization in Ufa, Russia, Russian President Vladimir Putin and Chinese President Xi Jinping are reportedly discussing a framework that would merge China’s multi-billion dollar network of roads, railways, and pipelines through Central Asia with the Eurasian Union, the post-Soviet economic bloc that includes Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia.”

http://foreignpolicy.com/2015/07/10/china-russia-sco-ufa-summit-putin-xi-jinping-eurasian-union-silk-road/

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Could Ukraine default in July next to Greece?

“Next to Athens, Kiev too could fail by the end of July. Now, the Ukrainian government seeks to re-structure its debts. However, little progress has been made in negotiations with the creditors.  Since the beginning of 2015, Ukraine has been facing a deep economic crisis, hit with a national currency devaluation by 70 percent and a massive essential G-D-P drop. As the deadline for the next bond repayment is nearing, the country’s Finance Minister Nataliya Jaresko doesn’t rule out the possibility of Kiev suspending the looming pay-off.”

http://www.presstv.ir/Video/2015/07/01/418393/Ukraine-West-Russia-

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US oil settles down 1.3%, at $51.65 a barrel; lowest since April

“Oil prices closed at their lowest level in nearly three months on Wednesday as data showed an unexpected build in U.S. crude oil and product stocks.  While most expected the U.S. Energy Information Administration’s (EIA) weekly report to show a decline in crude oil and gasoline stocks, both rose, along with distillates.  Crude was already facing downward pressure from an accelerating plunge in China’s stock market and the Greek debt crisis, both of which raised concern about fuel demand.  China is the world’s second-largest oil consumer.”

http://www.cnbc.com/id/102816491

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Islamic State mints its own ‘Islamic Dinar’ coins

Islamic State of Iraq and the Levant (Isil) has begun minting its own ‘Islamic dinar’ coins, Syrian activists claimed on Tuesday night. Pictures posted on social media showed a series of gold sovereigns bearing Isil inscriptions, and with a reported value of one gold dinar being with $139 (£89). Isil announced last November that it would start producing their own currency in areas under its control, in an effort to ’emancipate itself from the satanic global economic system’.  The currency, based on the original dinar coins used during the Caliphate of Uthman in 634 CE, was set to include seven minted coins: two gold, three silver and two copper.”

http://www.telegraph.co.uk/news/worldnews/islamic-state/11694838/Islamic-State-mints-its-own-Islamic-Dinar-coins.html

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Western Companies Look to Iran Opening for New Business

“The end to Iran’s international isolation is attracting more than just energy firms. Carmakers, aircraft and tobacco producers also make the list of companies that analysts from Natixis Securities to Jefferies say may invest in the nation if the April 2 agreement with world powers results in an end to penalties over its nuclear program. While Total, BP, Royal Dutch Shell and Exxon Mobil all have assets and expertise that could be of use to Iran, holder of the world’s largest gas reserves and fourth- biggest oil reserves, there’s more to the $370 billion economy than hydrocarbons. The country’s 77 million consumers have been starved of most Western products for more than 10 years.”

http://www.businessweekme.com/Bloomberg/newsmid/190/newsid/586/Western-Companies-Look-to-Iran-Opening-for-New-Business

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