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Monday, October 2, 2017

Drilling For Dollars

Petrobuckaneers,

What does the sale of Venezuelan oil in currencies other than the US Dollar mean? (Invasion, of course, because 18 years of lesser measures have failed to bring democracy to the largest proven reserves in the world, crappy and tarry as they are. Hopefully, US naval relief efforts in Puerto Rico will delay those atrocities. Anyway, there are more and more global moves against the petrodollar, way too many battles for even the US to fight at once. Details here.)

The petro-buck is getting shakier and shakier in the Middle East. Europe really need gas, and the Saudi-American pipeline through Syria has been decisively thwarted now. The whole Middle east is reorganizing, opening options outside US/Israel/NATO.
:In other words, while actively cooperating with Iran, Qatar has a military cooperation agreement with the US, which in practice is directed against Iran. US Central Command based in Qatar is responsible for military operations against enemies of  US-NATO including Iran, which happens to be Qatar’s main partner in the oil and gas industry. The structure of these cross-cutting alliances is contradictory. Will the US Seek regime change in Qatar? Meanwhile, Turkey has established a military base in Qatar. These new alignments also have a direct bearing on oil and gas pipeline routes. Qatar has abandoned the pipeline route project through Saudi Arabia and Jordan (initially sponsored by Turkey) in favor of the Iran based pipeline route out of Asuleyeh through Iran, Iraq and Syria, which is supported by Russia"
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Catalonia and other disasters, The Automatic Earth. The events yesterday are self defeating for the Rajoy government, so whose interests are served by the rising specter of Franco-Fascism, and Spanish civil war?

Here is more on that, not just the weakening of Spanish bonds in the headline.

The UN says Spain has to pay attention to human rights, and possible abuses thereof. The EU says it's a Spanish issue, and Catalonia would have to apply for membership, and please talk about it. Thanks Eleni.

How does Ethereum work, anyway? This is really good detail of the cryptocurrency platform that Russia is working with to create a national cryptocurrency. North Korea might reportedly convert coal it can't export to bitcoin, by setting up massive coal powered generation of bitcoin mines. That's not part of sanctions. Russia just opened fiber-optic internet to North Korea after Chines connection was swamped by NSA  DDOS attacks all weekend.

IMF head speaks (hypothetically, of course) about the end of banking in a world of Bitcoin. Looks like it hypothetically works nicely.

I can't find much factual information about Puerto Rico. My friend, Manuel, a doctor at the only hospital in Yauco, gets a gallon of drinking water per day, but the hospital is still (barely) open.  He is sweltering, along with everybody else, and can't sleep much at night. You may know what that does to you after a week or so.

Sweating All Night

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