Oil companies cut billions in spending, BP freezes pay of 84,000 staff globally, and Oil price loses another dollar a barrel today

BP has frozen the pay of its 84,000 staff around the world in response to the plunge in the oil price, which has more than halved in the past six months.

Weeks after cutting 300 jobs in Aberdeen, the oil company’s boss, Bob Dudley, sent a memo to all its staff outlining the decision to hold salaries at last year’s levels because of the harsh trading environment.

BP is among […]

Economic war escalates, S&P cuts Russian debt to junk status. Ruble spikes to 68-$. Russia likely to respond with buying more Gold and selling US Treasuries.

S&P downgrades Russia’s credit rating to junk

US-based credit rating agency Standard & Poor’s has cut Russia’s sovereign rating to BBB-, leaving it below investment grade for the first time in a decade.

“The downgrade reflects our view that Russia’s monetary policy flexibility has become more limited and its economic growth prospects have weakened. We also see a heightened risk that external and fiscal buffers will deteriorate due to rising […]

The weekend is over and crude oil is getting smoked again… Crude oil was down another 2.5% to $44.45 a barrel. With oil at $65, industry would be “really busy with restructurings.” In the 40s “we’re looking at liquidations.”

The weekend is over and crude oil is getting smoked again http://t.co/mgROSNp5V6 pic.twitter.com/riG1tBZXyA

— Business Insider (@businessinsider) January 26, 2015

- The weekend is over in New York and near 7:05 pm ET, the price of West Texas Intermediate crude oil was down another 2.5% to $44.45 a barrel. Additionally, US stock futures were selling off after a mixed week that saw the Nasdaq and S&P 500 gain ground while […]

MUST LISTEN: WW3, Transhumanism & The Battle For The Soul Of Humanity — Dave Hodges

Dave Hodges of the Common Sense Show.com joins me to talk about all of it – manufactured terror, World War 3, the elite’s plan to sell out humanity, depopulate the earth and use Transhumanism on those who are left here to be slaves. This is a must listen conversation and we very much appreciate you tuning in and sharing it with those you love.

Dave’s site: http://www.thecommonsenseshow.com/

For REAL […]

Euro crisis, banking crisis, debt crisis – 5 yrs rearranging deck chairs on the Titanic … Still not nuff lifeboats, but the band plays on

5 years into the euro zone crisis the ECB announces a €1.1 trillion quantitative easing programme to boost economy. Bolder than expected.

Draghi Commits ECB to Trillion-Euro Asset-Purchase Plan to Fight Deflation

Mario Draghi led the European Central Bank into a new era, committing to a quantitative easing program worth at least 1.1 trillion euros ($1.3 trillion) to counter the threat of a deflationary spiral.

The ECB president shrugged off […]

Biggest snowstorm in history set to hit NY, Panic-buyers clear stores of food ahead of blizzard threatening

Snow up to 3 feet and hurricane-like gusts could slam Boston and New York Monday and Tuesday. http://t.co/5ld4nRUMaI pic.twitter.com/tTqnfiu71e

— CNN Breaking News (@cnnbrk) January 26, 2015

The National Weather Service (NWS) has warned of a “potentially historic blizzard”

New York’s mayor is telling residents to “prepare for the worst”.

“This could be the biggest snowstorm in the history of this city, prepare for something worse than we have […]

Oil & Gas Default Wave, “Outright Liquidations” Next – At These Prices, Time And Money Are Running Out For Junk-rated Companies.

Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter

Next Chapter in the Great American Oil Bust

Every rally in crude oil since June turned out to be a pathetic sucker rally. On Friday, West Texas Intermediate fell over 2% to $45.32 a barrel, back where it had been on January 12, annihilating most of the 12% rally in between. WTI is now 58% below the June peak.

“If prices stay low well into the latter […]

SHOCKING Report Reveals Government STEALING Pension Funds!

Sources: “Is Your Pension Courting Catastrophe? – Bloomberg View” http://www.bloombergview.com/articles… “Detroit attorney says pension cuts actually close to 50 percent – World Socialist Web Site” http://www.wsws.org/en/articles/2014/… “Public service unions not entitled to $28B pension surplus, says Supreme Court | Toronto Star” http://www.thestar.com/news/canada/20… “Portugal raids pension funds to meet deficit targets – Telegraph” http://www.telegraph.co.uk/finance/fi… “Hungarian savers say government is stealing their pensions | Reuters” http://www.reuters.com/article/2014/1… “Russia Seized Citizens Pension Funds. […]

Radical Leftists Win Election In Greece – Future Of Eurozone In Serious Jeopardy

By Michael Snyder

Radical leftists have been catapulted to power in Greece, and that means that the European financial crisis has just entered a dangerous new phase.  Syriza, which is actually an acronym for “Coalition of the Radical Left” in Greek, has 36 percent of the total vote with approximately 80 percent of the polling stations reporting.  The current governing party, New Democracy, only has 28 percent of the […]

ECB QE at 60 billion a month, worldwide monetary policies signal distress

Today on The Janssen Report (#91): why have we allowed thin air to be a cashflow generating asset? This in essence what the banking system has created for itself: creating an interest-generating asset (= loans) by typing numbers in a computer.

With the Swiss National Bank unpegging the Franc from the Euro and Mario Draghi of the ECB announcing massive asset and bond buying at 60 billion euros a […]

Get ready. IBM about to layoff 26% of its employees starting next week.

Last October, IBM (IBM) chief executive Ginni Rometty vaguely hinted the company’s self-styled makeover to analytics, cloud, mobile and security specialist could mean yet another round of layoffs, following last year’s firing of 10,000 workers with another 1,700 shown the door in 2013.

But that was small potatoes compared to what might hit IBM next week amid one report the vendor is prepping to lay off what could amount to […]

Staggering Amount Of Debt Throughout The World. The Cause? War Is At Our Footsteps, And Countries Splurge To Do Whatever It Takes to Win

pic.twitter.com/uiT7ArqfWb

— trutherbot (@trutherbot) January 20, 2015

Japan approves record defence budget, record $42b budget is to boost defences of disputed islands amid China’s assertiveness in the region

Japan’s cabinet has approved the country’s largest defence budget, with plans to buy surveillance aircraft and F-35 fighter jets to improve defences of disputed islands amid China’s increasing assertiveness in the region. Prime Minister Shinzo Abe’s Cabinet endorsed on Wednesday a nearly […]

Hold Your Nose, We’re Going Down | Andy Hoffman

Can the US grow its way out of a currency collapse?

Lawrence Parks, of FAME, and James Turk, Director of the GoldMoney Foundation, talk about the possible political consequences of the coming monetary crisis and the abuse of emergency powers by politicians in the US in history, as well as the disturbing recent trends. They comment on Roosevelt’s gold confiscation, Nixon’s wage and price controls and GW Bush’s Homeland Security orders, including emergency powers in the case of economic crises. […]

The Shemitah: The Biblical Pattern Which Indicates That A Financial Collapse May Be Coming In 2015

By Michael Snyder

Does a mystery that is 3,500 years old hold the key to what is going to happen to global financial markets in 2015?  Could it be possible that the timing of major financial crashes is not just a matter of coincidence?  In previous articles on my website, I have discussed some of the major economic and financial cycle theories and their proponents.  For example, in an […]

Massive snow storms are getting more and more common

Massive snow storms are getting more and more common http://t.co/2nwGKtEqqh #Blizzardof2015 #Snowmageddon2015 pic.twitter.com/aUAnb6ErSQ

— Bloomberg Business (@business) January 26, 2015

A nor’easter blizzard of historic proportions barreling up the U.S. East Coast prompted authorities to shut highways, bridges, transit systems, schools, Broadway shows and sporting events in a swath from New Jersey through New England.

National Weather Service predictions that New York residents could expect more than 2 […]

The State of Lies, Waste, and War

It has been nearly a week now since President Barack Obama took the podium and addressed the joint session of congress and 225 years since George Washington did the same. Critics and supporters alike have had ample time to breakdown the speech, pull out the talking points and read between the lines. One of them is Matthew Hoh, he’s a senior fellow at the Center for International Policy. His […]

The CDC took advantage of their own failures to prop up another expensive drug in the big pharma industry.

If the CDC was a private company, it would be in a heap of trouble with the Federal Government right now. But because the CDC IS a branch of the Federal Government, it’s in trouble with no one. But that doesn’t mean the FDA is very happy with their stance on this year’s flu outbreak.

Late last week, the Centers for Disease Control and Prevention released updated figures, admitting […]

Fort Lauderdale Airport Top Ten in Guns

You know, guns and airports really don’t mix well. Especially when you’re in a hurry, trying to catch a last minute flight. But a new government report says a record number of guns are being discovered in people’s luggage. The TSA reporting a record 2,212 firearms found in carry on bags at airports just last year. And MOST of those guns were LOADED. That breaks down to an average […]

Several mayors said the President asked THEM to help sell his agenda to their cities, against the will of the Congress.

Quite the introduction for the President, as he took the stage at the national Convention of Mayors. The man you saw there, Kevin Johnson, the mayor of Sacramento. It’s a meeting that happens every winter at the White House. A tradition over 80 years old. This time around, the President spoke mainly to a home crowd audience: Democratic mayors from big cities. Many of those cities have already raised […]

Today, we’re going to tell you why America’s middle class is getting poorer. Or put another way, we’re going to show you how capitalism dies.

By BILL BONNER, CHAIRMAN, BONNER & PARTNERS

Dear Diary,

Today, we’re going to tell you why America’s middle class is getting poorer. Or put another way, we’re going to show you how capitalism dies.

The Dow fell 141 points, or 0.8%, on Friday. Gold closed the week below $1,300 an ounce… but not far below.

Two comedy acts appeared last week: President Obama’s State of the Union address and Mario […]

After The “Syriza Shock”: Now Comes The Hard Choice Of Escape Or Merely Re-setting The Terms of Greece’s EU Servitude

We can heartily praise Alexis Tsirpras for calling bull on the destructive puzzle palace economics thrust on his country by the hypocrites and liars who rule from Brussels. And his finance minister designate, economist Yanis Varoufakis, is surely on the right track when he targets the rent-seeking bankers, big businesses and media operators who have plundered the Greek state for decades.

Indeed, his pledge that “we are going to destroy […]

Greece to Kick Out IMF and End Austerity! EU Falling Apart Rapidly!

Sources: “Greece elections: Syriza and EU on collision course after election win for left-wing party – Europe – World – The Independent” http://www.independent.co.uk/news/wor… “News from The Associated Press” http://hosted.ap.org/dynamic/stories/… “How the European dream is dying, state by state – Telegraph” http://www.telegraph.co.uk/news/world… “Confessions of an Economic Hit Man: John Perkins: 9780452287082: Amazon.com: Books” http://www.amazon.com/Confessions-Eco… “Syriza Win in Greek Election Sets Up New Europe Clash – WSJ” http://www.wsj.com/articles/syriza-wi… “Europe bans ‘despotic’ […]

Investing Thoughts On Gold, Dollar And Other Stuff

by Lance Roberts

Gold

For over two years now I have consistently recommended excluding gold, and gold-related holdings, from your portfolio. This advice has paid out extremely well over that time by reducing portfolio drag as deflationary pressures have continued to mount globally.

(Note: While there is a large advocacy for owning gold my investment philosophy is quite simple, gold is an asset class to own when it is trending positively. […]