By: Tyler Durden
Back in November, before most grasped just how serious the collapse in crude was (and would become, as well as its massive implications), we wrote “How The Petrodollar Quietly Died, And Nobody Noticed“, because for the first time in almost two decades, energy-exporting countries would pull their “petrodollars” out of world markets in 2015.
This empirical death of Petrodollar followed years of windfalls for oil exporters such as Russia, Angola, Saudi Arabia and Nigeria. Much of that money found its way into financial markets, helping to boost asset prices and keep the cost of borrowing down, through so-called petrodollar recycling.
We added that in 2014 “the oil producers will effectively import capital amounting to $7.6 billion. By comparison, they exported $60 billion in 2013 and $248 billion in 2012, according to the following graphic based on BNP Paribas calculations.”
On this episode of Breaking the Set, Abby Martin, discusses the lack of media coverage of the massacre of as many as 2,000 people in the town of Baga by Boko Haram militants. Abby then goes over the most outrageous responses to the Charlie Hebdo attack in Paris and why the clash of civilizations mentality when it comes to these type of acts is so misleading. Abby then speaks with Pulitzer Prize winning journalist and author, Chris Hedges, about the roots of the attacks in France and the relationship between global events and the rise of radicalization.
A top aide to Russian President Vladimir Putin on Sunday accused Israel and the United States of training the Islamic State in order to undermine Moscow’s interests in the Middle East.
In an interview with Iranian state television,Alexander Prokhanov said that Mossad agents were training ISIS fighters in Syria and Iraq.
“ISIS is a tool at the hands of the United States. They tell the Europeans that if we (the Americans) do not intervene, ISIS will cause you harm,” he told PRESS TV.
“They launched their first terror attack against us just a few days back in Chechnya,” he said.