Iran and India: Belt and Road by Another Name

Don’t tell the Iran hawks in D.C., isolating Iran won’t work.  Iranian President Hassan Rouhani met with his Indian counterpart Narendra Modi this week and the two signed a multitude of agreements. The most important of which is India’s leasing of part of the Iranian port of Chabahar on the Gulf of Oman.  This deal … Continue reading Iran and India: Belt and Road by Another Name

Russia’s New Cryptocurrency Law — Translated

This isn't a big long analysis post.  Russia's Duma approved the new cryptocurrency law on January 25th.  It was published by the Ministry of Finance.  You can read it in Russian here.  I put the whole document through Bing Translator this morning for y'all to read. Federal law On digital financial assets Chapter 1. General … Continue reading Russia’s New Cryptocurrency Law — Translated

The Alt-Right, Collectivism and Why Everyone’s Asking the Wrong Questions

"Doin' Good ain't got no end," -- Capt. Red Legs Terrell ("The Outlaw Josey Wales") I had the (dis)pleasure of watching my friend Halsey English go fifteen rounds with alt-right hero Mike Enoch recently.  And it confirmed for me what I always thought about this movement. They aren’t heroes, saying the taboo things that need to … Continue reading The Alt-Right, Collectivism and Why Everyone’s Asking the Wrong Questions

Russia’s Slow Walk to Financial Independence

I've been critical of the Bank of Russia's slow-rolling their interest rate cuts for more than a year now.  This ultra-conservative approach has worked to also slow the growth of the domestic Russian credit cycle, keeping borrowing costs well above the demand for Russian debt. Last Friday the bank lowered its benchmark lending rate 25 … Continue reading Russia’s Slow Walk to Financial Independence

The Power of Siberia and China’s Next Natural Gas Moves

Gazprom’s Power of Siberia pipeline is more than two-thirds complete.  It will be delivering gas to China by the end of this year.  A second pipeline is still under discussion. A report yesterday from Alex Mercouris at The Duran noted some frustration from China over the irregular liquefied natural gas (LNG) supplies coming from its … Continue reading The Power of Siberia and China’s Next Natural Gas Moves

The Death of the “Death of Contagion” Central Bank Meme

Last year now-former FOMC Chair Janet Yellen downplayed the possibility of another financial crisis.  In her hubris she believes the central banks have walled off the financial system from 'contagion risks' brought on by over-investment in synthetic derivative market products. Like generals, however, central planners are always fighting the last war. We're experiencing a major … Continue reading The Death of the “Death of Contagion” Central Bank Meme

Rosneft End-Runs U.S. Kurdish Policy in Iraq

In what can only be seen as smart geopolitics, Russian state oil giant Rosneft just paid the recently vanquished Iraqi Kurds $1.3 billion for E&P (Exploration and Production) rights in their region. Remember that both Syrian and Iraqi Kurds enjoy nearly complete autonomy to govern themselves within those countries. Baghdad isn't happy, but this is … Continue reading Rosneft End-Runs U.S. Kurdish Policy in Iraq

Merkel and Schultz Will Love Germany to Death with Grand Coalition

"While our loving Watchmaker loves us all to death." -- Rush "BU2B" Politicians are cockroaches who walk upright. If there was ever an example of political leadership selling out their constituents for their own agendas it is the coalition negotiations happening in Germany right now. Both Angela Merkel and SPD Leader Martin Schultz have to retain … Continue reading Merkel and Schultz Will Love Germany to Death with Grand Coalition