….seems/feels to me this is all part of the plan to crush the current system and bring on the New……….economics is not my thing…….i took a class in college and had an argument with the professor who said all we needed to survive was a cardboard box, blanket, food and water…..i asked him what he meant by survival…….and what about if this person was in alaska…….what if the person got sick, etc…….he wasn’t interested in my “expansiveness”…..lol

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“It Would Be An Earthquake” – Three Chinese Banks Tumble After US Threatens To Cut Them Off From SWIFT

In news that initially did not receive much prominence, on Monday a US judge found three large Chinese banks — reportedly the state-owned Bank of Communications, China Merchants Bank, and Shanghai Pudong Development Bank — in contempt for refusing to comply with subpoenas in an investigation into North Korean sanctions violations. This could open the door for them to be cut off from the US financial system, i.e. SWIFT.

“Should it occur, to say that China will not take that well is as large an understatement as one can conceive of. It would be an earthquake”, commented Rabobank’s Michael Every.

CONTINUE HERE.

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US Set To Delay New China Tariffs… And Why This Is The Worst-Case Market Scenario

Over the weekend, when previewing the most likely outcome of the Trump-Xi talks, Goldman’s political analyst Alec Phillips said that “a commitment to re-engage seems the most likely outcome. US officials, including President Trump and US Trade Representative Lighthizer, have emphasized their interest in restarting talks.”

As Phillips further noted, “in the two analogous face-to-face meetings that President Trump previously held with foreign leaders—with European Commission President Juncker in July 2018 and President Xi in December 2018—he agreed to postpone tariff increases in return for an unspecified commitment to negotiate an agreement. This seems to be the most likely outcome once again.”

It appears that for once Goldman was right, because as Bloomberg reported moments ago, citing people familiar with the plan, “the U.S. is willing to suspend the next round of tariffs on an additional $300 billion of Chinese imports while Beijing and Washington prepare to resume trade negotiations.”

The decision, which is still under consideration, may be announced later this week after a meeting between Presidents Donald Trump and Xi Jinping at a Group of 20 summit in Osaka, Japan.

CONTINUE HERE.