In The News Today

Posted at 11:38 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

Not sure what to say, other than please watch this compilation “My Beautiful America” by Charlie Daniels, American citizen and Patriot.

Bill Holter’s Commentary

This is what Jim spoke of during our interim call yesterday for subscribers.

China Warns Trade War With US Could Escalate Into ‘Great Depression & World War’
November 28, 2018

Washington is considering sanctions against companies and officials linked to China’s alleged crackdown on the country’s minority Muslims.

Speaking to Reuters before heading to join Chinese President Xi Jinping’s delegation at this week’s G20 summit in Buenos Aires, Cui Tiankai said China was going to the Argentinean capital hoping for a deal to ease a damaging trade war with the United States.

Mentioning the two countries’ shared responsibility to cooperate in the interests of the global economy, Cui warned about dire consequences if US hawks try to drive a wedge between the world’s two largest economies.

He drew parallels to the tariff wars the industrial countries fought during the 1930s, resulting in a collapse of global trade and stoking tensions in the run-up to World War Two.

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Bill Holter’s Commentary

So Russia made a $12 billion mistaken loan? Do you have any idea what a $12 billion order would do to COMEX or even LBMA…if they demanded physical? Please think this one through, a pittance (and far less than $12 billion) can now destroy entire markets?

Russian Bank “Fat Finger” Gives Poor African Country Loan Equal To Six Times Its GDP
November 28, 2018

The impoverished state of Central African Republic – one of the poorest countries in the world – landed a paper windfall on Tuesday, when Russian state bank VTB reported it had lent the country $12 billion, or more than six times the country’s entire GDP — but the bank then said it was a clerical error “fat finger” and there was no such loan.

According to Reuters, the loan was mentioned in a quarterly VTB financial report published by the Russian central bank, which included a table listing the outstanding financial claims that VTB group had on dozens of countries as of Oct. 1 this year. There, in the table next to Central African Republic was the sum of 801,933,814,000 roubles, or $12 billion — more than six times the country’s annual economic output of $1.95 billion.

There was no indication in the data published by the Russian central bank of who was the recipient of the loan, the purpose of the loan, or when it was issued and on what terms.

When asked about the data by Reuters, the bank said the loan to the former French colony did not, in reality, exist.

“VTB bank has no exposure of this size to any foreign country. Most likely, this is a case of an operational mistake in the system when the countries were being coded,” the lender said in a statement sent to Reuters.

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