Abu Dhabi National Oil Co. has raised the August retroactive official selling price (OSP) for its key Murban crude by $9.90 from July to $111.65 a barrel, ADNOC said on Wednesday.

http://en-maktoob.news.y...33939281--business.html

EU praises ECB on yet another miraculous bailout idea of euroland - Outright Monetary Transactions (OMT) - that is, unlimited buying of PIIGS bonds. Markets cheer and the world is saved yet again by creating more debt to wipe out old debt! This ponzi scheme is fascinating... Nowadays it is a holy grail moment for a CB to issue and at the same time buy its own bonds and all is well?!

Why waste time in a financial course? Gambling courses should be introduced to replace finance since its outdated anyway!

http://www.chinapost.com...8/353577/EU-praises.htm

But Ze Germans esp Bundesbank is not amused wiz ze plan...

Why is Russia stockpiling gold?

http://articles.marketwa...-council-power-politics

Meanwhile the chings continue buying gold. As per last count in July they had accumulated approx 459 tons. At this rate, the chings will have bought in one year bullion larger than the entire ECB reserves!? This is a clear signal the chings are pushing for the yuan reserve currency. It won't be shocking to learn that the chings hold more gold reserves than everyone globally in a few years. So will the yuan become a gold backed currency? Since russia is also buying furiously like the chings will the ruble also become a backup in the ching currency reserve plan?

Interesting times this as currency wars scale up towards the tipping point of dethroning the petrodollar hegemony...

www.gold-prices.biz/home...ts-more-gold-in-201.html

Dubai style apartments in KE. Wow! Hot money is in town. No wonder the numerous golf resort cities and marinas along the coastal area. I wonder what inflation effects this will have on real estate & partly the econ...

http://www.businessdaily...6/-/15dwe4o/-/index.html