War Between Iran & Saudi Arabia Could Send Oil to $300 Per Barrel & Impoverish the World

An armed conflict between Riyadh and Tehran would have a major impact on oil markets and the global economy. RT asked experts what a war between the two Middle East superpowers would mean for crude prices. If a conflict happens, oil prices could increase 500 percent. “Energy prices will seriously depend on the severity of …

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‘Magic Wand’: Russia Buying Gold at Record Pace, Unlikely to Lose Momentum

Russia has been expanding its gold reserves at a record pace, according to information from the World Gold Council (WGC). Russian business newspaper Kommersant suggests this gold rush will give Russia guarantees against sanctions and economic and geopolitical risks. In the third quarter of 2017, the Central Bank of Russia bought 63 tons of the precious metal, bringing …

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China’s Launch of ‘Petro-Yuan’ in Two Months Sounds Death Knell for Dollar’s Dominance

One of the world’s top energy importers, China, is set to roll out a yuan-denominated oil contract as early as this year. Analysts call the plan, announced by Beijing in September, a huge move against the dollar's global dominance. The so-called petro-yuan is a “wake up call” for investors who haven’t paid attention to the …

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Passports for Sale: How Storm-Hit Caribbean Islands Court Arab Investors

Caribbean states devastated by recent hurricanes are selling citizenship to Middle Eastern investors to raise funds to help their recovery. But some officials warn that the islands’ rival schemes have fuelled a "race to the bottom" in which prized passports are being handed out cheaply. Islands badly hit by last month's storms included Dominica, where …

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Iran & Turkey Agree to Use National Currencies in Trade to Cut Dependence on Euro and Dollar

An agreement on using local currencies in trade has been inked between the central banks of Iran and Turkey. The aim is to improve economic links and make bilateral trade easier. Under the deal, the Iranian rial and Turkish lira will be easily converted to help reduce the costs of currency conversion and transfer for …

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Trump Threatens to Ban ‘Very Bad’ Germans from Selling Cars in US

US President Donald Trump’s top economic adviser acknowledged that the president said Germany is "very bad" when it comes to flooding the U.S. with cars, but insisted it wasn’t an attack on one of America’s most-important allies. “He said, ‘They’re very bad on trade,’ but he doesn’t have a problem with Germany," Gary Cohn, director …

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Ukraine Supplied 88 APCs to Iraq, But Only 34 Could Actually Move

Only 34 out of 88 armored vehicles supplied by Ukraine to Iraq as part of a 2009 deal were able to move, leaked results of the inspection revealed. The botched contract is still being probed in Kiev, but now it wants to find a Russian role there. Ukrainian website ZN.ua obtained a letter, addressed by …

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How the Opioid and Heroin Epidemic was Created by Big Pharma

The growing heroin addiction in America is at epidemic levels. Is there a connection between prescribed opioid abuse and the heroin use being on the rise? Some people have connected the dots between the over-prescribed pain-killer and the addiction that ensued and those addicts turned to heroin. OxyContin Rise as Number One Painkiller Prescribed According …

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Russian-Turkish Trade War Imminent? Moscow-Ankara Friendship Slips on Tomatoes

Turkey is reported to have stopped the issuance of licenses for the duty-free import of Russian wheat, corn, and other agricultural goods, thus introducing a 130% tariff for wheat in one of Russia's largest export markets. Experts say Russia's ban on Turkish tomatoes, and clumsy diplomacy on Ankara's part, may be the culprits for the …

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