What Recovery? Middle America Has Been Decimated; Why We Must #AudittheFed

Does anyone see the pattern here? Clearly the USA is suffering from twisted economic policy, but do you know WHY? Audit the Federal Reserve and find out!

Where Does China Import Its Energy From (And What This Means For The Petroyuan)

From Zerohedge.

Before the "shale revolution" many considered that the biggest gating factor for US economic growth is access to cheap, abundant energy abroad - indeed, US foreign policy around the world and especially in oil rich regions was largely dictated by the simple prerogative of acquiring and securing oil exposure from "friendly" regimes. And while domestic US crude production has soared in recent years, making US reliance on foreign sources a secondary issue (yes, the US is still a major net importer of crude) at least as long as the existing stores of oil at domestic shale sites are not depleted, marginal energy watchers have shifted their attention elsewhere, namely China.

Recall that as we reported in October, a historic event took place late in the year, when China (with 6.3MMbpd) officially surpassed the US (at 6.24MMbpd) as the world's largest importer of oil. China's reliance on imports is likely only to grow: "In 2011, China imported approximately 58 percent of its oil; conservative estimates project that China will import almost two-thirds of its oil by 2015 and three-quarters by 2030."

Which means that the question that most were focused on before, i.e., where the US gets its oil, and what is the US energy strategy, refocuses to China.

We have some answers.

The graphic below summarizes all the known Chinese energy import transit routes.

Some additional color from the 2013 Annual Report to Congress on all key developments relating to China:

China's Energy Strategy

China’s engagement, investment, and foreign construction related to energy continue to grow. China has constructed or invested in energy projects in more than 50 countries, spanning nearly every continent. This ambitious investment in energy assets is driven primarily by two factors. First, China is increasingly dependent upon imported energy to sustain its economy. A net oil exporter until 1993, China remains suspicious of international energy markets. Second, energy projects present a viable option for investing China’s vast foreign currency holdings.

In addition to ensuring reliable energy sources, Beijing hopes to diversify producers and transport options. Although energy independence is no longer realistic for China, given population growth and increasing per capita energy consumption, Beijing still seeks to maintain a supply chain that is less susceptible to external disruption.

In 2011, China imported approximately 58 percent of its oil; conservative estimates project that China will import almost two-thirds of its oil by 2015 and three-quarters by 2030. Beijing looks primarily to the Persian Gulf, Africa, and Russia/Central Asia to satisfy its growing demand, with imported oil accounting for approximately 11 percent of China’s total energy consumption.

A second goal of Beijing’s foreign energy strategy is to alleviate China’s heavy dependence on SLOCs, particularly the South China Sea and the Strait of Malacca. In 2011, approximately 85 percent of China’s oil imports transited the South China Sea and the Strait of Malacca. Separate crude oil pipelines from Russia and Kazakhstan to China illustrate efforts to increase overland supply. A pipeline that would bypass the Strait of Malacca by transporting crude oil from Kyuakpya, Burma to Kunming, China is currently under construction with an estimated completion time of late 2013 or early 2014. The crude oil for this pipeline will be supplied by Saudi Arabia and other Middle Eastern and African countries.

Given China’s growing energy demand, new pipelines will only slightly alleviate China’s maritime dependency on either the Strait of Malacca or the Strait of Hormuz. Despite China’s efforts, the sheer volume of oil and liquefied natural gas that is imported to China from the Middle East and Africa will make strategic SLOCs increasingly important to Beijing.

In 2011, China imported 14.3 billion cubic meters (bcm) of natural gas, or 46 percent of all of its natural gas imports, from Turkmenistan to China by pipeline via Kazakhstan and Uzbekistan. This pipeline is designed to carry 40 bcm per year with plans to expand it to 60 bcm. Another natural gas pipeline designed to deliver 12 bcm per year of Burmese-produced gas is under construction and estimated for completion in late 2013 or early 2014. This pipeline parallels the crude oil pipeline across Burma. Beijing is negotiating with Moscow for two pipelines that could supply China with up to 69 bcm of gas per year; discussions have stalled over pricing differences.

As for China's Top Crude suppliers as of 2011:

Finally, from a previous Zero Hedge post on this topic, here is why China's increasing reliance on Crude imports means that the ascent of the Petroyuan is assured, and why by implication the days of the Petrodollar may be numbered: an outcome which the US will hardly be pleased with.

So what does this shift in oil imports mean?

More than anything else, it is a sign that China will increasingly depend on global markets to satisfy its ever-growing oil demand. This necessitates further engagement with the international system to protect its interests, encouraging a fuller integration with the current liberal order. This will have effects on both China’s approach to its currency and its diplomatic demeanour.  

Derek Scissors wrote last week that this shift might usher in a world where oil is priced in RMB as opposed to solely in USD. This transition could only occur, however, if the RMB was made fully convertible and Beijing steps back from its current policy of exchange rate manipulation. Earlier this year, HSBC predicted that the RMB would be fully convertible by 2017, a reality that is surely hastened by its position as the single largest purchaser of foreign oil. A fully convertible RMB would be a “key step in pushing it as a reserve currency and enhancing its use in global trade, said Sacha Tihanyi, a strategist at Scotia Capital.

On the diplomatic side, while the United States is unlikely to withdraw from its role as defender of global oil production or guarantor of shipping routes, an increasing reliance on foreign oil will push Beijing toward a more engaged role within the international community. It is likely that we will see a change in Beijing’s approach to international intervention and future participation in multilateral counterterrorism initiatives—anything to ensure global stability. In the future, anything that destabilizes the oil market will increasingly harm China more than the United States. While Beijing views this increased import reliance as a strategic weakness, it a boon for those hoping to see Beijing grow into its role as a global leader.

Bottom line: as Chinese oil imports grow, Beijing will become increasingly reliant on the current market-oriented global system—this is nothing but good news for those that enjoy the status quo.

Forget the 1%, 85 People Own Pretty Much Everything

Articel from Zerohedge.

There is something morbidly gruesome and ironic in having the world's wealthiest people, among them the presidents and central bank heads of the world's most "advanced" nations, as well as the CEOs of the biggest corporations, sitting down in Davos - a place where the press passes alone cost thousands of dollars - and discussing global inequality: the same inequality that their policies and principles are responsible for. It is even more morbid when one considers that according to a recent Oxfam report, one that will be used in Davos itself, the disparity in wealth between the haves and the have nots has reached absolutely record proportions, surpassing any previous inequality gaps seen before and during the Great Depression.

Which brings us to the topic of wealth.

By now everyone is familiar with the popular wealth pyramid, which shows that "29 million, or 0.6% of those with any actual assets under their name, own $87.4 trillion, or 39.3% of all global assets."

One can extend that rule of thumb to say that almost half of the world’s wealth is now owned by just one percent of the population, and seven out of ten people live in countries where economic inequality has increased in the last 30 years.

However, for the best visual of the disparity between the haves and the have nots we go to Oxfam once more, which just penned the soundbite of the day, and possibly, of the week for suddenly very bleeding-heart Davos:

That's right: "the 85 richest people own the same wealth as the 3.5 billion poorest people" ... aka half the world's population.

Naturally this should come as no surprise: after all the past 5 years of this website have been, more than anything, a testament to the systematic theft, plunder and pillage of the global middle class by a small cabal of global financial oligarchs - those who have implicit control of the printing presses, who have the legal and legislative support of a few, actually make that all, corrupt and purchased politicians, who have merely made this wealth transfer from the poor, not so poor and modestly wealthy to the wealthiest, possible.

And not only possible, but the most rapid it has ever been in history.

The chart below from OxFam summarizes the unprecedented speed of wealth transfer going to the richest 1% courtesy of Bernanke et al's theft-enabling, and Congress-approved policies.

Some of the findings by Oxfam:

Given the scale of rising wealth concentrations, opportunity capture and unequal political representation are a serious and worrying trend. For instance:

• The bottom half of the world’s population owns the same as the richest 85 people in the world.
• Almost half of the world’s wealth is now owned by just one percent of the population.
• The wealth of the one percent richest people in the world amounts to $110 trillion. That’s 65 times the total wealth of the bottom half of the world’s population.
• Seven out of ten people live in countries where economic inequality has increased in the last 30 years.
• The richest one percent increased their share of income in 24 out of 26 countries for which we have data between 1980 and 2012.
• In the US, the wealthiest one percent captured 95 percent of post-financial crisis growth since 2009, while the bottom 90 percent became poorer.

Oxfam's conclusions should be perfectly known in advance by anyone who has been following said systematic wealth plunder over the years:

Some economic inequality is essential to drive growth and progress, rewarding those with talent, hard earned skills, and the ambition to innovate and take entrepreneurial risks. However, the extreme levels of wealth concentration occurring today threaten to exclude hundreds of millions of people from realizing the benefits of their talents and hard work.

Extreme economic inequality is damaging and worrying for many reasons: it is morally questionable; it can have negative impacts on economic growth and poverty reduction; and it can multiply social problems. It compounds other inequalities, such as those between women and men. In many countries, extreme economic inequality is worrying because of the pernicious impact that wealth concentrations can have on equal political representation. When wealth captures government policymaking, the rules bend to favor the rich, often to the detriment of everyone else. The consequences include the erosion of democratic governance, the pulling apart of social cohesion, and the vanishing of equal opportunities for all. Unless bold political solutions are instituted to curb the influence of wealth on politics, governments will work for the interests of the rich, while economic and political inequalities continue to rise. As US Supreme Court Justice Louis Brandeis famously said, ‘We may have democracy, or we may have wealth concentrated in the hands of the few, but we cannot have both.’

Oxfam is concerned that, left unchecked, the effects are potentially immutable, and will lead to ‘opportunity capture’ – in which the lowest tax rates, the best education, and the best healthcare are claimed by the children of the rich. This creates dynamic and mutually reinforcing cycles of advantage that are transmitted across generations.

It is this threat of a global revolution that suddenly has the panties of all the Davos participants in a bunch: because regardless of the amounts of cholesterol consumed over the past 5 years of epic wealth transfer, we are confident all of these individuals recall well what happened in France in 1789.

This also means that these unbelievably wealthy men and women will suddenly sit down and fight to undo all the legalized theft they have engaged in since the Lehman collapse, and instead fight for the common man.... The same common man, who would be shot on sight if seen walking through one of Davos' marble halls without credentials, by the specially trained army of guards protecting the world's if not best, then certainly wealthiest.

And just who are these kind-hearted Robin Hoods, who will gladly take from themselves and give to the poor? Here, courtesy of RanSquawk, is a very partial list of the people the world's poor should pray to tonight (and every other night):

President and Prime Ministers from the G20 countries who will address the Meeting include:

• Tony Abbot, PM of Australia and 2014 Chair of the G20
• Shinzo Abe, PM of Japan
• David Cameron, PM of the UK
• Enrico Letta, PM of Italy

Some of the leading public figures who will be participating in the 2014 Annual Meeting are:

• Mark J. Carney, Governor of the Bank of England
• Mario Draghi, President, European Central Bank
• Haruhiko Kuroda, Bank of Japan
• Thomas J.  Jordan, Swiss National Bank
• Angel Gurría, Secretary-General, Organisation for Economic Co-operation and Development (OECD)
• Jim Yong Kim, President, The World Bank, Washington DC
• Christine Lagarde, Managing Director, International Monetary Fund (IMF)
• Ban Ki-moon, Secretary-General, United Nations, New York
• Jacob J. Lew, US Secretary of the Treasury
• Olli Rehn, Vice-President, Economic and Monetary Affairs, European Commission
• Hassan Rouhani, President of the Islamic Republic of Iran
• Shimon Peres, President of Israel

Some of the leading business figures who will be participating in the 2014 Annual Meeting are:

• Lloyd Blankfein  - Goldman Sachs
• Douglas Flint – HSBC Holdings
• Antony Jenkins – Barclays
• Laurence Fink – BlackRock
• Christophe de Margerie – Total
• Bob Dudley – BP
• Klaus Kleinfeld – Alcoa
• Doug McMillon – Wal - Mart
• Marissa Mayer - Yahoo
• Joe Kaeser - Siemens
• Lakshmi Mittal – ArcelorMittal
• Sir Martin Sorrel – WPP
• Paul Bulxke - Nestle

Our advice to the disenfranchised and the poor around the globe hoping that any of the people listed above will do much if anything to help their plight: it will get worse... before it gets much worse.

Tragedy and Hope: Professor Carroll Quigley and the "Article that Said T...

Intelligence Lawmakers Suggest Edward Snowden Has Been Working For The Russia

Pentagon arming US police with MRAP combat vehicles

NY Times Journalist, Pulitzer Prize Winner Seymour Hersh says 9/11 and Bin Laden Stories are Lies!

Does the US Need a Third Political Party? Independents Can Find Common Ground!

The short and sweet answer to this question is yes, yes and yes. For the past 5-6 years the United States has experienced something that no one ever thought could happen. That being political gridlock and with gridlock its means that nothing will happen. No decisions will be made and if they are, in all likelihood they’ll be half measures. The United States is unique in that for a democracy we only have two political parties. In any other democratic country there are 3-5 political parties such that people can truly pick and choose who they want in office. The other major difference is that in other countries if the prevailing political party isn’t doing the job, they are voted out of office even before their term is up. In the US we are stuck with political leaders who even if they aren’t doing the job; well we’re stuck with them for up to 6 years (Senate). It gives new meaning to the term “lame duck” and quite frankly we have too many lame ducks in government.

In the interest of full disclosure, I used to be a Democrat. I was a Democrat because I believed that the Democratic Party was the party of the people. I’m now more Independent that ever and the reason is I don’t believe the Democrats are any better than the GOP. Plus I’m old enough to remember the Cuban Missile Crisis and how then President Kennedy led us out of that disaster. Quite frankly, the only politician I think highly of these days is Bernie Sanders because at least he tells it like it is. The prevailing politicians in Washington, DC seem perfectly content to allow the government to run on autopilot with no leadership whatsoever.

Want proof? The upcoming Budget Bill that was just approved by the House and senate will now go to President Obama for approval. This budget was devised by Senator Patty Murray (Democrat) and Rep, Paul Ryan (Republican). This bill contains no provision whatsoever for any extension of UI. Yet Democrats in both houses approved it and no one even raised a red flag concerning this issue. On December 28th millions of Americans were dropped from the UI rolls regardless of where they were in terms of UI benefits. In other words many Americans had 20 weeks to go before they exhausted their benefits and were dropped prematurely. And we wonder how the Unemployment Rate dropped from 7.0 to 6.7 percent with only 74,000 jobs created? Mathematically that is impossible. The only way it can happen is if millions aren’t being counted as unemployed. Well guess what? When you drop off Unemployment you’re considered to be “employed” even if you aren’t. If you really want a true measure of the employment situation in the United States then look at the Department of Labor’s U6 rate. This shows the true picture as it takes into account the total number of long term unemployed. That number rest at 12.7 million and yet no one pays attention to this. Everyone is perfectly content to look at the official rate and say “see, things aren’t so bad the unemployment rate is going down” or they’ll look at the JOLTS Job Report and say “see, we have 4 million vacant jobs, those unemployed people don’t want to work.” It doesn’t exactly help when we have 12.7 million long term unemployed.

So what does Obama do? He tries to push through an extension via a bill that was voted down this past week. The issue? The Senate requires a majority of 60 votes and the final number came in at 55. Since when is 55 not a majority? The fact is that despite all the rhetoric regarding his record of job creation, the jobs that have been created are low level, minimum wage and menial at best. The American people expect more from their leaders but sadly won’t get it with this crowd in DC. The fact is that the folks in DC live in an insulated, glass bubble and don’t live in the real world. When they go home to talk to constituents, who do they talk to? Campaign contributors, not the average Joe. The average Joe has no voice with these people unless they wish to spend their lives writing letters.

In Ancient Rome there was a two party system: the Patricians and the Plebes. The Patricians represented the “high net worth” folks and the Plebes represented everyone else. This system did not work and required a Caesar to break the deadlock. Problem was that Caesar had absolute power and that always corrupts absolutely.

Originally posted: Does the US Need a Third Political Party?

CNN: Spitzer, Tea Party find common ground

TeaParty and Occupy Share Common Ground?

OCCUPY TEA-PARTY CONVERSATION TBP121311

Could Occupy and Tea Party Work Together?

Most Political Independents Ever In USA

This is propaganda meant to stir up support for a war! "Syria: Baby Rateb Malis recovered from rubble after Assad bombing is - Mirror Online"

Syria: Baby Rateb Malis recovered from rubble after Assad bombing is - Mirror Online

How long before the CFR guided US and Israeli corporate owned military industrial complex media is hyping up another US intervention in Syria?  Which companies would benefit from another military strike? Watch their stocks.  Watch the news trail around this issue.  We may have to let Congress and Obama know that we do not support intervention, especially when we are funding and arming the resistance to Assad.  This is CFR-run CIA propaganda.  Maybe not its authors, but the SOURCE! What is the source of this news story?

Did you ever see these charts? Maybe this is why we should #AuditTheFed NOW!

Hey Ben Bernanke, before you go, tell me just one thing.  Did you ever see this chart? Notice anything? Yeah, the people you are SUPPOSED to be SERVING are the United States Citizens and instead you are serving foreign masters, and we're serving you.  Apparently you are the original Too Big To Fail Bank.  Well, you know how the old saying goes...

Screw me once, shame on you.  Screw me twice, shame on me.  Screw me threw times, what a pity.

Too bad we can't order an independent indictment of this so called independent agency you work for.  Well, there are a few people calling for a complete independent and total audit of the Federal Reserve System and its Charter Members.  (You know, like the one we did a couple years back and discovered that you gave bail out money to every bank in your cabal.)

Senator Rand Paul and former Congressman Dr. Ron Paul have both called for one THIS YEAR, and it's only January!  They have tried many times before with help from both the Left and the Right.  Unfortunately, 45% of Americans are independents and don't pay attention to the Collectivist party announcements.

We have several months before Congress is supposed to go on recess again - they only work like 90 days a year or something like that, anyway, wouldn't it be swell if we could just get a quick peak at the Federal Reserve's books.  It would be an accounting boom.  You could provide a data feed for a small fee and muckrackers and alternative media journalists all over the world could sift through its contents, making nice charts like you.  Only this time we are going to pay attention and share our own views of what's happening in the global economy.  Now that we are all linked up on the globalist network, a ripple in Syria or Japan could give us a headache or cancer.  This is serious economics here people.  Not benign statistics.  There is a war on for your mind and your money.  Are you going to come out on top this time?

Pay attention.  These are questions Senator Elizabeth Warren should ask of Federal Reserve Chairwoman, Janet Yellen.

What does this chart mean? What are the data sources? Where is that data hosted? At the Saint Louis Federal Reserve or some ISP? How will you be affected by the Trans Pacific Partnership? From a risk management perspective, shouldn't you have a secure backup archive of all your data going back 100 years?

< I'd like to overlay that money trail on a global map and show it over time.  Maybe we can do a financial reenactment of a certain economic event.  Animate the money trail and provide a public news feed free for everyone to enjoy.  Now that would be a killer app.  Live Truth Streaming on HootSuite.  But we need a cable channel too, like RT, only 100% American owned (no offense RT, but we need our own public media cartel, to balance the coersive, manipulative, and despicable corporate news channels like CNN, MSNBC, ABC, CBS, NBC, FOX, or whatever else is put out by the Establishment. Yes, I am referring to the Bilderbergs, the Bush', Kerry's, the Clintons, and soon to be the Obama family .....>

to be continued...

Home > FRED® Economic Data > Categories > National Accounts > National Income & Product Accounts >Domestic Capital Account (Saving & Investment)

Personal Saving Rate (PSAVERT)

2013-11: 4.2 Percent   Last 5 Observations

Monthly, Seasonally Adjusted Annual Rate, Updated: 2013-12-23 7:46 AM CST

Edit Graph    Print    PDF    Save

Type:

Line

Size:

Medium

Range:

Max

Units:

Levels

Notes: Growth Rate Calculations | US recession dates

Source:	U.S. Department of Commerce: Bureau of Economic Analysis
Release:	Personal Income and Outlays
Notes: Personal saving as a percentage of disposable personal income (DPI), frequently referred to as “the personal saving rate,” is calculated as the ratio of personal saving to DPI. BEA Account Code: A072RC1 A Guide to the National Income and Product Accounts of the United States (NIPA) - (http://www.bea.gov/national/pdf/nipaguid.pdf)

Michael Moore Admits on CNN Live: We Are Ruled by Shadow Government & Military Industrial Complex

Pentagon Cleaning House? Are These The Ones That Won't Cooperate With Im...

Join the Class Action Lawsuit Against the NSA

Dear Andrew,

A few days ago, I announced filing a class-action lawsuit against Barack Obama's National Security Agency and its unconstitutional spying on Americans.

Now I’m looking for ten million Americans to stand with me by joining this lawsuit to TAKE BACK our rights.

Can I count on your help?

Without it, I truly fear where our fragile Republic could be headed . . .

Recent news reports revealed that Barack Obama’s NSA is looking through billions of our emails and phone records every day!

But my friend, today I’m counting on your support as well.

As you’ll see, I’ve made up a Joining Statement for you to join my class-action lawsuit and I’m counting on you to sign it IMMEDIATELY.



You see, I believe this is an absolutely critical and defining moment . . .

My hope is it will be remembered for decades as the moment the American people stood up to their government and demanded our liberties be respected.

But I fear, without your help, it could instead be the moment the American people quietly shrink from a fight and instead hand their last bit of approval over for government-run lives.

I know there are those who argue that Americans must give up every last one of their liberties to win our country’s ongoing fight against terrorism.

"Trust us," they say.

I also know their promises of safety can be tantalizing.

But today we know President Obama’s IRS routinely targeted his political opponents and grassroots conservatives.

The Justice Department targeted reporters and their families for wiretapping and harassment for daring to criticize the administration.

We see the Obama administration covering up Benghazi, then tapping Susan Rice -- who helped mislead the American people in the wake of that outrage -- for a promotion.

"Trust us" is out the window.

And even if our rulers were angels -- and you and I had nothing to fear from an overbearing and intrusive government -- it still doesn’t work.

One of my colleagues, defending this massive program, stated the Boston bombing proved why we need programs like this.

Actually, it proves quite the opposite.

Instead of acting on real intelligence warnings from at least one other nation about the dangers the bombers posed, government agents were too busy secretly sifting through the phone and email records of hundreds of millions of Americans.

Instead of unreasonably targeting every American for spying, they should be focusing on only the truly dangerous.

This is an astounding assault on the Constitution and what’s truly dangerous is if you and I allow this to go on.

That’s why in addition to my class-action lawsuit I’ve introduced the Fourth Amendment Protection Act in the U.S. Senate.

This bill will prevent the government from sifting through the emails of American citizens and require them to obtain a warrant before searching data of specific terrorist suspects.

How long until these spying capabilities suffer some "mission creep" and they start using the GPS feature in your phone to track whether or not you go to gun shows?

What if you go to the "wrong" church? Or read emails from or attend the rallies of the "wrong" candidate?

That’s why your action today is so critical.

As I mentioned, I’ve made up a Joining Statement so you can join the lawsuit, and I’m counting on you to sign and return it to me IMMEDIATELY.



Go ahead and forward it to the uncle or cousin you always get in arguments with at Thanksgiving as well.

This isn’t a partisan issue.  It’s an American one.

And if you and I care at all about the future of our Republic, we need as many folks as possible to stand up and fight back.

I believe each new name joining in this lawsuit increases the likelihood of ultimate victory.

By joining my class-action lawsuit, you can help stop the government’s outrageous spying program on the American people. 

And your support will send a powerful message to my colleagues in Congress, many of whom want to just sweep this scandal under the rug and carry-on business as usual.

I believe we can win this.

I believe we must win this.

As I made clear in my recent FOX news appearance, I’m prepared to take this all the way to the Supreme Court.

If we can get tens of millions of Americans behind this effort, I believe we can win.

But I can’t do this without your help.

So please sign your Joining Statement to join my lawsuit IMMEDIATELY.




With your support, I’ll immediately begin mobilizing Americans from all over the country to this fight.

But to do that, I’ll have to pull out all the stops -- and not just with email, Internet ads and social networking.

I’ll have to use mail, phones and perhaps even radio and TV to get my message out as well.

This kind of program won’t be cheap. It’s an absolutely critical one for the survival of our Republic.

So please sign your Joining Statement IMMEDIATELY.

Thanks so much for your support.

In Liberty,

Senator Rand Paul

P.S. Just a few days ago I announced filing a class-action lawsuit to end the madness of Barack Obama's NSA spying on Americans. 

It seems every day we find out how more information is being sucked up, and how you or I could one day be targeted. 

Meanwhile, real threats to our security, like the Boston bombers, slip by unnoticed.

EXPLAINED: The New World Order Agenda

How to Boycott Wall Street