Assessment: Biden acknowledged under questioning from reporters that blocking Russian access to SWIFT — the international payment system that is used to assist transactions by global banks — was “not the position that the rest of Europe wishes to take …
President Biden condemned Russia’s invasion of Ukraine as being “without justification” Thursday as he announced new sanctions and export restrictions against Moscow — but he declined to sanction Russian President Vladimir Putin personally and admitted that America’s European allies are opposed to kicking Russia out of a key global banking system.
“Yet man is born to trouble, As the sparks fly upward.: Job 5:7
In remarks from the East Room of the White House, a visibly angered Biden called Putin “the aggressor” in Europe’s worst conflict since World War II and said that “he wants to, in fact, re-establish the former Soviet Union.”
“Putin chose this war. Now he and his country will bear the consequences,” the president added.
Despite the big talk, Biden was forced to deny that the threat of sanctions against Putin’s personal wealth was a bluff, insisting under questioning that such a move was “still on the table.”
“Why not sanction him today, sir? Why not sanction him today?” CNN’s Kaitlan Collins asked. Biden would not answer and called on a different journalist to ask a question.
Read More @ New York Post HERE
Assessment: Abdul Hameed, director of sales at Manzoor Trading in Lahore, Pakistan, said the edible oil is in “uncharted territory,” and prices could climb even higher. He said, “the global supply and demand situation is a very, very big concern.”
Edible oil prices soared this week, prompting fears that record-high food prices could be imminent. On Wednesday, soybean oil futures in Chicago hit their highest levels since 2008, and palm oil, the commodity used in thousands of food products, jumped to new highs.
Soybean prices increased 1.4% to 71 cents per pound, the highest level since 2008. US canola futures are also on the verge of an all-time high, and palm oil in Malaysia hit a new record high of $1,434 per ton.
“And do not harm the oil and wine” Re. 6:6
“Drought has crimped soybean crops across South America this season. Rival oilseeds like palm and canola have also suffered shortfalls from adverse weather and labor shortages. And escalating political tensions involving Ukraine and Russia pose a risk for sunflower oil exports, which the two countries dominate,” according to Bloomberg.
Ivy Ng, the regional head of plantations research at CGS-CIMB Securities, said,
“for the supply side, everything that could go wrong, went wrong; problems “hit all the key producing countries, whether it’s palm oil or a competing oil. There’s no reprieve in the short term, and people are reacting to that.”
Earlier this month, Goldman Sachs’ Jeff Currie warned that shortages across commodities could send higher prices. He said markets are “incredibly tight from a physical perspective” … “we are out of everything, I don’t care if its oil, gas, coal, copper, aluminum, you name it we’re out of it.”
Soaring edible oils could be the next catalyst that catapults the FAO (Food and Agriculture Organization) Food Price Index (FFPI), a measure of the monthly change in international prices of a basket of food commodities, to a new record high for February. New FFPI data is expected in early March. As for now, FFPI sits near a record high in terms of January prices.
Read More @ Zero Hedge HERE
Few things are more predictable than Israeli officials taking time out of their busy schedule to complain about Iran, with Prime Minister Naftali Bennett going in hard in condemning Iran’s nuclear talks lately.
Those talks are making progress expected to result in a deal, however, and likely anticipating a new salvo of Israeli comments, the State Department is criticizing Bennett’s comments, saying that coordination would be the best way to achieve their mutual goals.
“After many days you will be called to arms. In future years you will invade a land that has recovered from war, whose people were gathered from many nations to the mountains of Israel, which had long been desolate.” Ez. 38:8 NIV
“We cannot make the same mistake another time and put off another opportunity for diplomatic progress,” a Biden admin spokesperson said in response to Israeli criticism. The reference to “same mistake” was to Trump’s 2018 move to unilaterally pull the United States out of the JCPOA nuclear deal.
“We believe that diplomacy, alongside coordination with our allies in the region, is the best way to achieve our goal,” the official added. “We will not respond in the media about details from the talks.”
Officials say they are in contact with Israel on a daily basis, consulting on the process. Israeli officials are playing up the idea that the deal is regionally dangerous.
US interest would be in Israel keeping its mouth shut on the matter.
Read More @ Zero Hedge HERE
CBDC's, de-dollarization, digital ruble, digital yuan, dollar reserve status, world reserve currency
