EU Special Purpose Vehicle may not be Bigfoot (Sasquatch) after all


… from Press TV, Tehran

“The Europeans have indicated that other countries may be welcome to join the SPV or that there may be multiple SPVs for different types of trade.” 

[ Editor’s Note: I must confess that I have been worried about the EU Special Purpose Vehicle being an EU illegitimate child that no one wanted. But the quote above shows that the EU is thinking long term, never wanting to be boxed in by the US like this ever again.

Bigfoot (Sasquatch)

But this news of the EU planning to use only the Euro in oil transactions other than the US – something the US will not be able to prevent – comes as welcome news.

And even more important, all those oil-producing countries will be piling up Euros, which they obviously will use to pay for European imports and making investments there, a triple win for the EU.

It is going to create a long term shift in US international trade to the detriment of the US, all because of the NeoCon Deep State hoodlums thinking they could use banking and settlement-transaction controls as a financial weapon on the rest of the world.

How soon will it take before we hear that the EU is going to pay for their Chinese rare earth imports completely with Euros, and we watch as that list of import products expands? We may see the wind go out of the sails to a large degree from the US sanctions; and the “mismanagement” of international trade may become a major 2020 Presidential race issue.

This news follows the growing list of those using national currency swaps in major arms deals, with India this week saying it will look into currency swaps on more of its international trade with Russia.

“Where there is a will, there is a way.”

I have editorialized that US bully tactics of overusing sanctions was going to boomerang, as those on the extensive target list were going to be highly motivated to create a payment and settlement structure that bypasses the US.

This was not genius on my part. I just saw no other option for them. Various national factions will be united with a purpose and speed that would not have happened without prodding by US extortion.

The battle is not over by any means. But if the EU follows through on this, it will have punched a big hole in the front line of US sanctions, which can be followed up with new EU economic “plays” for blocking certain international gangsters from wresting more control of international trade.

That said, we expect to see new trade deals with China, like Trump has done with Mexico and Canada, since a “re-balancing” was long overdue. Trump can and should take credit for that.

What will be debated is whether he could have accomplished the same thing without triggering the backlash that he has, which will have long term consequences for the US trade position.

Did he use his sanctions machine-gun simply because he is a prisoner of a Reality TV mode personality that it is all theater? Whoever can stay on offense by controlling the narrative and media spin rules the day Jim W. Dean ]

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– First published … December 06, 2018

The European Union is going to ditch the US dollar and use its own currency in oil contracts worth 300 billion euros, an Iranian official said, quoting a European commissioner.

“Based on the news I recently received and was confirmed by a European commissioner, from now on, the EU is going to ditch the US dollar and just use the euro in the financial transactions of all European oil deals with other countries,” said Iran’s nuclear chief, Ali Akbar Salehi, on Thursday.

Speaking to reporters, the head of the Atomic Energy Organization of Iran (AEOI) said the amount of these transactions is more than €300 billion.

“Previously, the EU used to pay 85 percent of the money for the oil it purchased from other countries in US dollars, but now with this new mechanism, all the money will be paid in euros,” he said.

Once the mechanism takes effect, the US dollar will be isolated as a global currency, and the US will no longer be able to use dollars in the current dominating way, Salehi added.

His comments came one day after the EU commission presented its plan to reduce the dollar’s overwhelming dominance of the global economy and to strengthen the role of the euro, particularly for energy transactions.

European capitals are increasingly frustrated with the global dominance of the dollar as a reserve currency, which hands the United States unparalleled diplomatic and economic power in a globalized world.

Governments, banks and multinationals are at the mercy of US authorities, which have the legal power to switch off access to the world economy if any company or country runs afoul of Washington.

“In the current context of incertitudes – trade conflicts, extra territorial sanctions by the US – the market participants are looking for alternative,” said EU economics affairs commissioner Pierre Moscovici at a news conference in Brussels.

The single currency – born on January 1, 1999 – “should reflect the political, economic and financial weight of the eurozone”, the single currency bloc of 19 EU countries, said European Commission Vice-President Valdis Dombrovskis.

The share of the euro in global holdings of foreign exchange reserves currently stands at around 20 percent, according to the commission. The US dollar, by comparison, is over 60 percent.

After a strong start, the international stature of the euro suffered greatly during the eurozone debt crisis as the financial markets lost faith in the single currency.

The most frustrating recent example for the EU is Iran, where international companies that choose to trade with or invest despite US sanctions are vulnerable to punishment by Washington if they use the dollar.

In order to resolve the issue, Europe has promised to establish the Special Purpose Vehicle (SPV), a mechanism which is supposed to bypass US sanctions against Tehran.

SPV to be launched by year-end

In his Thursday remarks, Iran’s nuclear chief expressed hope that the SPV will be in place by the end of December.

It is not easy to build consensus among 27 members of the European Union, he said, quoting European officials as saying that they are doing their best to finalize the mechanism, and that its development is in its final stages.

“Based on the pledges that the Europeans have made, we hope that Europe’s proposed package would become operational by the end of the current year,” Salehi added.

Salehi’s comments echoed Wednesday remarks by Iranian Foreign Minister Mohammad Javad Zarif who also quoted Europeans as saying that the SPV will be launched very soon.

“The Europeans told me in Geneva, and my colleagues in Brussels, that the final arrangements for the SPV have been made,” Zarif said, but at the same time noted that the EU has kept the process confidential for fear of the US which may disrupt the SPV if it is made aware of the details.

In a Tuesday report, Al-Monitor quoted European sources as saying that the SPV will be announced in January.

“It is likely that it will be used initially to facilitate trade in food and medicine and consumer goods to avoid attracting unwanted scrutiny from the US Treasury Department,” the report said.

“The Europeans have indicated that other countries may be welcome to join the SPV or that there may be multiple SPVs for different types of trade,” it added.

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  1. Actually there is a lot of evidence to support the existence of Sasquatch/ Big foot, including the Patterson film.
    I don’t rule out its existence.

  2. When I got a home owner line of credit, 1st Key Bank was gouging me @ 7.5% for 25,000. About a year latter I asked my wife’s bank account I own with her, she’s paralyzed in Nursing home, and that bank said they’d finance 30,000 at 3.2% fixed for three years then it would go to unfixed 4.7%, so when I got the bill and say it went to 5.2% I started trying to get Bank and her son Jimmy (Power of Attorney) to refi to A FIXED 5.2% because I follow the fed and KNEW our dollar is going to shrink. I hope to have this done by the next FED rate movement. Maybe the paper work will be ready maybe by tomorrow..also no CHARGES to go from fixed 5.2 for 30 years and I get to cancel Key Bank credit card and account completely…stingy S.O.B.s

  3. Tody a bottom screen news ran across and stated the U.S. is launching a ” New World Order ” and the E.U. the IMF and the U.N. will be left out ….Has ANYONE else seen this or heard of it at VT ??

  4. This was a logical and predictable action. I’m only surprised the Europeans had the nerve to do it. Maybe it’s been their real desire for some time, but they just needed the excuse of having an intractable oafish megalomaniac in the White House. It was bad enough when Trump, at the behest of his handlers, unilaterally cancelled the Joint Comprehensive Plan of Action and reimposed sanctions on Iran. More recently, his threat to impose sanctions on the Nordstream 2 Project, and his chastisement of Germany for its reliance on Russian natural gas is tantamount to bullying and extortion. This is not how you treat allies.

  5. Right Joe, We can’t be sure that the timing was on purpose. God only knows I have been waiting for the EU to show some spunk and I was getting worried. Iran also published this week that it did not have the option of waiting forever, and that followed by the threat to close Hormuz, suggesting to wait until AFTER the air craft carrier was inside. Trump would tell us that Iran was attacking the world and order a full retaliatory strike to save us.

    • it’s a good thing the choice fell upon the Euro, because then sanctions by Pompeo & Co, will have to hit ALL of Europe, and that is a block almost too big to sanction. That’s why I suggested Brussels last time we spoke, because Brussels is the capital of EU. The next problem now is to get as many countries as possible to accept the Euro as reserve currency. Maybe a kind of swap between euros, yuans, rubles and other currencies will be the next goal, short of a new gold standard (?)

    • I believe the long term goal of our insane criminal bankers will be a one world currency. It therefor will not have to be backed by Au Ag or really anything. Perhaps it will be paperless from the gitgo. Life will be a long series of paying tolls for everything.

  6. Taking “Sides” in this analysis is as simple as the Hoi Poloi taking sides for the Saturday Night Football. I like to stick with Lord Acton’s Analysis that THEY are all Bad Bastards and THEY are like any other Mafia, who from time to time have a ‘Sit Down’ and do indeed Do Deals. The essence of the Cock Up Theory is that ‘what can go wrong will go wrong’ and in true Scientific Method sit down to adjust the plan. The President of Business International (taken into the Economist Intelligence Unit – a Rothschild vehicle) did not totally dismiss Conspiracies, but firmly adhered to the Cock Up Method and the Positivist Scientific Method for actually running the Hidden Hand. So much for the Theory: hypotheses become theories, but all the way they are tested by THEM against objectively observed harsh reality, totally devoid of Morality or The Tyranny of Logos. In that manner of thinking, there is no Good and Evil – only Pleasure and Pain: often engineered as pleasure for the elite and pain fo the masses. War and fear of war is the Negative Operative Conditioner and I have just started into a book “Alternative War” by J.J.Patrick about Hyubrid War, which is in Full Flight at this very moment and has been for some time.

    • Now we are at a transition point for shifting the host of the Ponzi Scheme that is the Federal Reserve Bank System. That World Central Bank was moving from England at Versailles and solidified at Bretton Woods after 1945 and may well now be headed for a Commissioner Controlled Central Bank operating out of Europe. There is a real danger that the USA could face Helicopter Money a la Weimar as the Currency Shift comes into play. The method of manipulation is the tried and tested system used around the Treaty of Versailles: Trump as Wilson, Bolton et al acting as “Advisers” along the lines of the chain leading through ‘Colonel’ House, Baruch and up to the Judiciary with Brandeis. I subscibe to the view of a Canadian Intelligence Colonel in a book that I read a long time ago: that the Franco Prussian War, World War 1 and World War 2 were one continuous war. The Third World War as envisioned by Albert Pike, Mazzini (sp?) etc started straight after that. The actual Nuclear Component on a mass scale may just remain as Fear Factor in the background with a few Tactical Fire Crackers let off to reinforce the point.

    • The Cycle of Empire as envisioned by Paul Kennedy is getting shorter through history as the End Game of World Empire draws nearer. The Euro may well be a stepping stone back into the somewhat impenetrable Heartland. I haven’t a clue how “Russian” Jewish Oligarchs (remember Putin is Super Wealthy and his promotion in that system came through his Jewish father’s side) or the Pampered Princelings from the Eight Immortals in China (remember that the Sassoons of Bombay and Baghdad made deep inroads into China as exemplified with the Opium Wars) fit within this plan. What I do know is that both Russia and China were subject to Violent Revolutions that were shaped by Marxist Dogma and External Finance from All The Usual Suspects whom I call The Big Boss (The Big Bowl Of Spaghetti Stupid).

    • Israel as surrogate for the Hidden Hand has already taken the USA for granted and is using them as a Patsy. The Iran thing is to control Iran as a vehicle for control of “The Stans” (Thanks for that one Brendon) through to Pakistan at the Tail of the BRI. There is a well integrated Jewish Community in Iran and I suppose that the battle going on is to shift control away from the Shia Muslims. Iran itself is not exactly Sqeaky Clean. Yes, that does fit into the Yinon Plan, with Israel as Military Outpost for Over Arching Control of the Middle East.

    • Take a look at this (older) video from the BBC with Stephen Sackur
      It shows Mohammad Marandi against Jamal Khashoggi arguing about their very different views of which of the two countries is causing the ME crisis. Marandi points out that Iran in no way discriminates Jews. Especially interesting in view of the last three years’ development, with everybody now knowing who Khashoggi was (is).

  7. This is exactly what needed to be done. Tell the gangsters in the U.S. and Israel to Shove it! The dollar is virtually worthless anyway. The corrupt U.S. lies to its own citizens about the impending financial meltdown which could come at any instant without warning. The U.S. is on borrowed time now. Boycott the U.S. and Israel every day. Buy nothing from them; sell nothing to them

    • Only the Good Lord knows how much money the U.S. is in the hole for. None of the numbers they quote can be believed; all are blatant lies. It is likely thousands of trillions of dollars. These fools think they can violate the laws of history. No they can not! Nature will take its course with these fools and they deserve their impending plight into oblivion. This is nature’s way.

    • I think it might have worked if they had treated all customer (i.e. countries) equally, in an objective manner. But instead they misused the system by letting some customers be preferred, while more or less blocking out others. This then causes a sliding of the system’s centre of gravity, creating an imbalance, an unstable system. Exclusions of this kind are especially unpropitious if there exist a demand for products from such countries as have been excluded. Another asymmetry is created by letting one country have the unique right to increase the money supply. It can work for a while, but in the long run it will be the cause of great instabilities. Add to this the boys who then try to set things straight by military, that is violent methods. This causes human suffering and as a consequence an unwillingness to cooperate.

    • A lot of Americans and i mean a lot of Americans continue to believe in the dollar’s invulnerability and that the economy is just fine and dandy and there is nothing to be concerned about.
      The there are those of us, who have been listening to people like Ron Paul, Gerlad Celente, Jim Rogers and others who have been trying to warn the American people about the impending collapse of not just the dollar but the entire economy.
      America and the American people are deeply in debt and the bomb is ticking.
      The majority of Americans will be caught unprepared for what is about to happen. There will be a lot of children, not just in the cities but in upper middle class suburbs who will be going to bed with empty stomachs.
      What happens then is anybody’s guess.

  8. The news we’ve all been waiting for. Isn’t it odd that this announcement coincides with Pompeo’s NWO rant? Ideally a nation’s GDP is the value of all it produces, and this number determines the value of the country’s currency divided by how much it prints.
    In 1913 with the creation of the Federal Reserve this formula changed, and not in a good way.

    • Actually Joetv, a book called “Truth in Money” showed with remarkable accuracy that M3 followed a predictable math curve of compounding interest. Growth of the “money supply” is mostly made by issuing debt. It’s” quantity”(was M3) follows the curve of $1 borrowed in 1913 with 6% interest capitalized to the principle yearly for the next 110 years (to 2023). This phenomena appears unavoidable in a debt based money system with interest charged. Eventually the system funnels wealth to the banker to the point that the subjects revolt (pogroms). Make that simple graph and keep the principle + interest identified….it explains soooo much and it will show you why they got rid of M3….it (debt money growth) was about to scare the shit out of the mommy’s and daddy’s and cause collapse of “faith”. It will also show what happens with even slight interest rises.

    • The Pope declared a Jubilee year in 2015, but nothing happened. This was the traditional method of averting Pogroms. A full Doomsday Book of all the world’s assets would have to be taken a la William I (The Conqueror) to fairly ‘allocate’ remission of debt. Maybe there need to be a reaction from The Tribe of Dan, who are the Traditional Foot Soldiers for the Usurers, Prophesied as the Adder beside the road to unseat the Horsemen of The Apopcalypse, before the Self Proclaimed Chosen Masters will take any notice. That is likely the only way to have a Full Inventory of All Assets from Solid Gold to Flimsy Paper or Even Flimsier Binomial Reality In The Ether (Etherial) “Assets”. After that, Net Assets Accretion Accounting in Real Time could track the Workers from The Shirkers. “Ora Et Labora”. The UNO (OWN) should be opposed by the Democratic Forces of the United Pacific Union (UP YOU). Peace Bro..

    • Rant describes it to a T. The man is utterly delusional. Now he is a war criminal.
      Pompeo has become a caricature of America.

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