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rollover

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  1. Ukraine's new budget deceives all UkrainiansUkraine's newly adopted budget is nothing but scam that gives every opportunity for corruption among politicians of the highest echelon of power. Ukrainian MP Vladimir Parasyuk said that the vote for the budget 2015 was another large-scale affair of both Arseny Yatsenyuk and the Popular Front in general. "Today, MPs voted in favor of a blank sheet of paper, on which one can write corruption schemes," Parasyuk wrote. "The current prime minister is even worse than Azarov. I would never think that the people who were supporting a change of the system will be so cynical and impudent. They break everything possible and impossible rule. They do not change the country, because they do not want to change anything." Parasyuk also wrote. In his opinion, the Ukrainian government is deceiving the Ukrainian people. http://english.pravda.ru/news/world/29-12-2014/129412-ukraine_budget-0/
  2. Coalition Batkivshchina political party leader Yulia Tymoshenko announced that neither she nor some other lawmakers had the full text of the budget document!
  3. Rise of a Petro-Yuan & a Slow Erosion of Dollar Hegemony Since a 1970s, a post of dollar precedence has been a greenback’s purpose as a widespread banking in that oil and gas are priced, and in that general hydrocarbon sales are invoiced and settled. This helps keep worldwide dollar direct high. It also feeds appetite producers’ accumulation of dollar surpluses that strengthen a dollar’s station as a world’s premier haven asset, and that can be “recycled” into a US economy to cover American deficits. But a dollar’s purpose in these markets is conjunction healthy nor a duty of a broader dominance. Rather, it was engineered by US policymakers after a Bretton Woods financial sequence collapsed in a early 1970s, finale a initial chronicle of dollar precedence (“dollar omnipotence 1.0”). Linking a dollar to general oil trade was pivotal to formulating a new chronicle of dollar precedence (“dollar omnipotence 2.0”) — and, by extension, in financing another forty years of American hegemony. Dollar precedence was initial enshrined during a 1944 Bretton Woods conference, where America’s non-communist allies acceded to Washington’s plans for a postwar general financial order. Britain’s delegation—headed by Lord Keynes—and probably each other participating country, save a United States, lucky formulating a new multilateral banking by a fledgling International Monetary Fund (IMF) as a arch source of tellurian liquidity. There was, however, a deadly counterbalance in Washington’s dollar-based vision. The usually approach America could disband adequate dollars to accommodate worldwide liquidity needs was by using open-ended stream comment deficits. As Western Europe and Japan recovered and regained competitiveness, these deficits grew. America became a net oil importer in a early 1970s; and a avowal of marketplace appetite by pivotal members of a Organization of Petroleum Exporting Countries (OPEC) in 1973-1974 caused a 500% boost in oil prices, exacerbating a aria on a US change of payments. And they have mostly hold up, notwithstanding periodic Gulf Arab restlessness with America’s Middle East policy, some-more elemental US alienation from other vital Gulf producers (Saddam Hussein’s Iraq and a Islamic Republic of Iran), and a flurry of seductiveness in a “petro–Euro” in a early 2000s. A rising share of China’s outmost trade is being denominated and staid in renminbi; distribution of renminbi-denominated financial instruments is growing. China is posterior a prolonged routine of collateral comment liberalisation essential to full renminbi internationalisation, and is permitting some-more sell rate coherence for a yuan. The People’s Bank of China (PBOC) now has barter arrangements with over thirty other executive banks — definition that renminbi already effectively functions as a haven currency. More broadly, Beijing understands a significance of dollar prevalence to American power; by chipping divided during it, China can enclose extreme US unilateralism. China has prolonged incorporated financial instruments into a efforts to entrance unfamiliar hydrocarbons. Now Beijing wants vital appetite producers to accept renminbi as a transactional banking — including to settle Chinese hydrocarbon purchases — and incorporate renminbi in their executive bank reserves. Producers have reason to be receptive. China is, for a vastly foreseeable future, a categorical incremental marketplace for hydrocarbon producers in a Persian Gulf and former Soviet Union. And, as America is increasingly noticed as a hegemon in family decline, China is seen as a preeminent rising power. Looking ahead, use of renminbi to settle general hydrocarbon sales will certainly increase, accelerating a decrease of American change in pivotal energy-producing regions. It will also make it marginally harder for Washington to financial what China and other rising powers cruise overly interventionist unfamiliar policies — a awaiting America’s domestic category has frequency begun to ponder. http://atbize.com/rise-of-the-petro-yuan-the-slow-erosion-of-dollar-hegemony/
  4. Venezuela confirms recession, inflation hits 63.6 percentVenezuela entered a recession in 2014, with the economy shrinking in the first three quarters. In a statement, the bank said GDP contracted 4.8 percent in the first quarter, versus the same period of last year, then it fell a further 4.9 percent in the second quarter and shrank 2.3 percent in the third quarter. http://www.reuters.com/article/2014/12/30/venezuela-economy-idUSL1N0UE1FY20141230
  5. Ukrainian lawmakers pass 2015 budget with estimated shortfall of $4 billion Prime Minister Arseny Yatsenyuk said presenting the draft state budget to the parliament said that the document was “candidly far from being perfect” and required adjustments, which should be introduced by February 15, 2015. “We will be adjusting it [the budget] depending on the talks with international financial institutions,” Yatsenyuk said. Submitting the document for the voting, the premier voiced only several provisions of the budget spending. While Ukrainian lawmakers debated on the state budget issue, Batkivshchina political party leader Yulia Tymoshenko announced that neither she nor some other lawmakers had the full text of the budget document. Meanwhile, the increase in Ukraine’s military budget would be apparently at the expense of social spending. The government already announced plans to cut state spending on the social sphere by almost $1 billion. Ukraine’s Finance Ministry introduced a new social policy under which some 100,000 teachers are to be sacked over two years.The spending on Ukraine’s science and education would also be cut by $200 million. Over 400 schools in rural areas would be closed, and some social benefits, including free meals and extra payment for academic degrees, would be scrapped. http://itar-tass.com/en/world/769694
  6. It's good to have strong and powerful friends.
  7. At the Zaporizhzhya NPP was an emergency shutdown of the unitThe sixth unit of the Zaporozhye nuclear power plant (NPP) the largest power object in Ukraine and Europe with the rated volume of 6000 MW, was disconnected from the network in the result of the operation of protective system, informs on Sunday, the press service of the plant.
  8. The fracking fallacy When US President Barack Obama talks about the future, “we have a supply of natural gas that can last America nearly 100 years,” he declared in 2012. It is all thanks to fracking. Then the shale boom caught everyone by surprise. Around the country, terms such as 'shale revolution' and 'energy abundance' echo through corporate boardrooms. Companies are betting big on forecasts of cheap, plentiful natural gas. Over the next 20 years, US industry and electricity producers are expected to invest hundreds of billions of dollars in new plants that rely on natural gas. And billions more dollars are pouring into the construction of export facilities that will enable the United States to ship liquefied natural gas to Europe, Asia and South America. All of those investments are based on the expectation that US gas production will climb for decades, in line with the official forecasts by the US Energy Information Administration (EIA). “For natural gas, the EIA has no doubt at all that production can continue to grow all the way out to 2040.” But a careful examination of the assumptions behind such bullish forecasts suggests that they may be overly optimistic. The results are “bad news”, says Tad Patzek, head of the University of Texas conducting the in-depth analyses. With companies trying to extract shale gas as fast as possible and export significant quantities, he argues, “we're setting ourselves up for a major fiasco”. If US natural-gas production falls, plans to export large amounts overseas could fizzle. “If it begins to look as if it's going to end in tears in the United States, that would certainly have an impact on the enthusiasm in different parts of the world,” says economist Paul Stevens of Chatham House, a London-based think tank. The EIA's model so far has assumed that future wells will be at least as productive as past wells in the same county. But this approach, Patzek argues, “leads to results that are way too optimistic”. The high resolution of the Texas studies allows their model to distinguish the sweet spots from the marginal areas. The Texas and EIA studies also differ in how they estimate the total number of wells that could be economically drilled in each play. The EIA does not explicitly state that number, but its analysis seems to require more wells than the Texas assessment, which excludes areas where drilling would be difficult, such as under lakes or major cities. Patzek says that the EIA's method amounts to “educated guesswork.” Patzek argues that actual production could come out lower than the team's forecasts. “That's when there's going to be a rude awakening for the United States” and “it cannot be good for the US economy.” However, the ARI report does not state a range of uncertainty on its estimates, nor how much gas might be economical to extract. Such figures are “extremely dubious”, argues Stevens. “It's sort of people wetting fingers and waving them in the air.” He cites ARI's assessments of Poland, which is estimated to have the largest shale-gas resources in Europe. Between 2011 and 2013, the ARI reduced its estimate for Poland's most promising areas by one-third, saying that some test wells had yielded less than anticipated. Meanwhile, the Polish Geological Institute did its own study, calculating that the same regions held less than one-tenth of the gas in ARI's initial estimate. If gas supplies in the United States dry up faster than expected — or environmental opposition grows stronger — countries such as Poland will be less likely to have their own shale booms, say experts. http://www.nature.com/news/natural-gas-the-fracking-fallacy-1.16430
  9. http://www.nature.com/news/natural-gas-the-fracking-fallacy-1.16430
  10. Russia said on Thursday its currency crisis was overThe rouble plunged to all-time lows last week to 80 per dollar but it has since rebounded sharply in the last few days to trade as strong as 52 per dollar on Thursday.
  11. Russia hopes to host Syria talks in JanuaryMoscow has been trying to relaunch peace talks for Syria that would include meetings between delegates of President Bashar al-Assad's regime and the fractured opposition. https://uk.news.yahoo.com/russia-hopes-host-syria-talks-january-145520029.html
  12. MH17: Russia claims to have airfield witness who blames Ukrainian pilotRussian investigators announce anonymous testimony of Ukrainian warplane taking off with air-to-air missiles and returning without them on 17 July http://www.theguardian.com/world/2014/dec/25/mh17-russia-claims-to-have-airfield-witness-who-blames-ukrainian-pilot
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