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EndGameWatch
The Consolidation of the Elites over Earth's Remaining Resources. Watching the Tragedy of the Commons in Action.
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Iran Dumps Petrodollar, Wants Euros for All Oil Sales

Iran Dumps Petrodollar, Wants Euros for All Oil Sales | EndGameWatch | Scoop.it
Reuters has reported that Iran is requesting euros for all new and outstanding oil payments. Another nail in the dollar's coffin:
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   The Spread Of Ignorance  :  Information Clearing House - ICH

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Vertical farms: the greatest hope for cities, or a band-aid on a sucking chest wound?

Vertical farms: the greatest hope for cities, or a band-aid on a sucking chest wound? | EndGameWatch | Scoop.it
  I sometimes find myself making negative comments about vertical farming. This happened again today, and the facebook friend to whom I responded repl
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Hedge funds betting against China eye Soros moment

Hedge funds betting against China eye Soros moment | EndGameWatch | Scoop.it
A handful of mainly U.S.-based macro hedge funds have led bets against China's yuan since late last year and the coming weeks should tell how right they are in predicting a devaluation of between 20 and 50 percent.
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Resentment simmers as Greece launches debate on pension reforms

Resentment simmers as Greece launches debate on pension reforms | EndGameWatch | Scoop.it
Greek Prime Minister Alexis Tsipras launched a vocal defence of plans to overhaul the country's pensions system on Tuesday as public unrest simmered over cutbacks that are a condition for the indebted country to receive more international aid.
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Zygmunt Bauman: “Social media are a trap”

Zygmunt Bauman: “Social media are a trap” | EndGameWatch | Scoop.it
An inspiration for Spain’s May 15 movement, the sociologist is skeptical about chances for change
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As leaders chill in Davos, emerging economies going downhill fast

As leaders chill in Davos, emerging economies going downhill fast | EndGameWatch | Scoop.it
More than a trillion dollars of investment flows has fled emerging markets over the past 18 months but the exodus may not even be halfway done, as once-booming economies appear trapped in a slow-bleeding cycle of weak growth and investment.
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Part 2: The World's Most Famous Case of Hyperinflation

Part 2: The World's Most Famous Case of Hyperinflation | EndGameWatch | Scoop.it
The continuation of our story on Germany's bout with hyperinflation in the early 1920s. We look at the effects, as well as even worse stories of inflation.
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Colonel Lawrence Wilkerson – The Declining Standard of Living

Colonel Lawrence Wilkerson explains that for the first time in history the standard of living is in decline.
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Prof. Michael Hudson – A Mortgage You Can Never Repay

Michael Hudson recounts his personal experience with mortgages.
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Prof. Michael Hudson – The New Financial Balance

Michael Hudson predicts the new financial balance by analysing the current situation of countries that are ahead of us in the curve.
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So It Begins: Bloomberg Op-Ed Calls For An End Of Cash | Zero Hedge

In a moment of curious serendipity, a little over 90 minutes after we showed what a dystopian, centrally-planned, cashless society unleashed in a negative interest rate world would look like ("by forcing people and companies to convert their paper money into bank deposits, the hope is that they can be persuaded (coerced?) to spend that money rather than save it because those deposits will carry considerable costs"), and briefly after we laid out the countless recent warnings from "very serious people" that cash is evil and should be banned: Norway's Biggest Bank Demands Cash Ban Bank Of England Economist Calls For Cash Ban, Urges Negative Rates Citigroup's Gold "Expert" Demands A Cash Ban Leading German Keynesian Economist Calls For Cash Ban ... while warning to await a full-on coopted media assault about the dangers of cash "which is an anacrhonysm from a bygone era, and that the world will be so much better if only everyone dutifully exchanges the physical currency in their pocket for digital, traceable, and deletable 1s and 0s", none other than Bloomberg issued an editorial Op-Ed in which it had one simple message: "Bring On the Cashless Future." For those who were amused by our warning that a cashless world may be coming, here is precisely why the warning was issued, in Bloomberg's digital ink: Bring On the Cashless Future   Cash had a pretty good run for 4,000 years or so. These days, though, notes and coins increasingly seem declasse: They're dirty and dangerous, unwieldy and expensive, antiquated and so very analog.   Sensing this dissatisfaction, entrepreneurs have introduced hundreds of digital currencies in the past few years, of which bitcoin is only the most famous. Now governments want in: The People's Bank of China says it intends to issue a digital currency of its own. Central banks in Ecuador, the Philippines, the U.K. and Canada are mulling similar ideas. At least one company has sprung up to help them along.
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The Lesson from Davos: No Connection to Reality | Inter Press Service

The Lesson from Davos: No Connection to Reality | Inter Press Service | EndGameWatch | Scoop.it

Climate Change, Editors' Choice, Featured, Global, Headlines, Labour, South-South, TerraViva United Nations, Trade & Investment The Lesson from Davos: No Connection to Reality By Roberto Savio Reprint | | Print | Roberto Savio, founder and...

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How Bad is Venezuela's Economic Situation? | venezuelanalysis.com

How Bad is Venezuela's Economic Situation? | venezuelanalysis.com | EndGameWatch | Scoop.it

Venezuela's central bank just did something totally unexpected: it released updated economic figures showing the country has sunk into its worst economic crisis in decades.

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Something Snapped At The Comex | Zero Hedge

Something Snapped At The Comex | Zero Hedge | EndGameWatch | Scoop.it
There had been an eerie silence at the Comex in recent weeks, where after registered gold tumbled to a record 120K ounces in early December nothing much had changed, an in fact the total amount of physical deliverable aka "registered" gold, had stayed practically unchanged at 275K ounces all throughout January. Until today, when in the latest update from the Comex vault, we learn that a whopping 201,345 ounces of Registered gold had been de-warranted at the owner's request, and shifted into the Eligible category, reducing the total mount of Comex Registered gold by 73%, from 275K to just 74K overnight.   This took place as a result of adjustments at vaults belonging to Scotia Mocatta (-95K ounces), HSBC (-85K ounces), and Brink's (-21K ounces). Meanwhile, the aggregate gold open interest remained largely unchanged, at just about 40 million ounces.   This means that the ratio which we have been carefully tracking since August 2015 when it first blew out, namely the "coverage ratio" that shows the total number of gold claims relative to the physical gold that "backs" such potential delivery requests, - or simply said  physical-to-paper gold dilution - just exploded. As the chart below shows - which is disturbing without any further context - the 40 million ounces of gold open interest and the record low 74 thousand ounces of registered gold imply that as of Monday's close there was a whopping 542 ounces in potential paper claims to every ounces of physical gold. Call it a 0.2% dilution factor.   To be sure, skeptics have suggested that depending on how one reads the delivery contract, the Comex can simply yank from the pool of eligible gold and use it to satisfy delivery requests despite the explicit permission (or lack thereof) of the gold's owner.
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Noam Chomsky Says GOP Is 'Literally A Serious Danger To Human Survival’

Noam Chomsky, the noted radical and MIT professor emeritus, said the Republican Party has become so extreme in its rhetoric and policies that it poses a “serious danger to human survival.”

“Today, the Republican Party has drifted off the rails,” Chomsky, a frequent critic of both parties, said in an interview Monday with The Huffington Post. “It’s become what the respected conservative political analysts Thomas Mann and Norman Ornstein call ‘a radical insurgency’ that has pretty much abandoned parliamentary politics.”

Chomsky cited a 2013 article by Mann and Ornstein published in Daedalus, the journal of the American Academy of Arts and Sciences, analyzing the polarization of the parties. The authors write that the GOP has become “ideologically extreme, scornful of facts and compromise, and dismissive of the legitimacy of its political opposition.”

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Report Warns that Plastics Will Soon Outweigh Fish in World's Oceans

Report Warns that Plastics Will Soon Outweigh Fish in World's Oceans | EndGameWatch | Scoop.it
The weight of plastic waste clogging the world's oceans threatens to exceed all fish by 2050 if the world's seemingly insatiable appetite for the material continues at the current explosive rate, warned a new report presented on Tuesday. In fact, according to the study by the Ellen MacArthur Foundation along with the World Economic Forum, "plastics production has surged over the past 50 years, from 15 million tonnes in 1964 to 311 million tonnes in 2014, and is expected to double again over the next 20 years."
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Tarek El Diwany – Trickle Down Economics

Tarek El Diwany on the flawed concept of trickle-down economics.
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Satish Kumar – The Money Paradigm

Satish Kumar, editor of Resurgence Magazine, argues that the exploitation of nature and humans is inbuilt in the nature of capitalism and socialism.
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