Commerce between Europe and North America has literally come to a halt. For the first time in known history, not one cargo ship is in-transit in the North Atlantic between Europe and North America. All of them (hundreds) are either anchored offshore or in-port. NOTHING is moving.
This has never happened before. It is a horrific economic sign; proof that commerce is literally stopped.
We checked VesselFinder.com and it appears to show no ships in transit anywhere in the world. We aren’t experts on shipping, however, so if you have a better site or source to track this apparent phenomenon, please let us know.
We also checked MarineTraffic.com, and it seemed to show the same thing. Not a ship in transit…
If true, this would be catastrophic for world trade. Even if it’s not true, shipping is still nearly dead in the water according to other indices. The Baltic Dry Index, an assessment of the price of moving major raw materials by sea, was already at record all-time lows a month ago… and in the last month it has dropped even more, especially in the last week. Today BDIY hit 415…
Factories aren’t buying and retailers aren’t stocking. The ratio of inventory to sales in the US is an indicator of this. The last time that ratio was this high was during the “great recession” in 2008.
Hey, Ms. Yellen, what recovery? The economy is taking on water at a rapid rate.
The storm has been building for some time, actually. Not so long ago, there was a spate of reports that the world’s automobile manufacturers were in trouble because cars were not selling and shipments were backing up around the world.
ZeroHedge reported on it this way:
There is a systematic effort underway to remove all fraud from the world’s financial system. This campaign is now getting to the point where some major financial institutions and countries, including the US corporate government, are about to go bankrupt. This is all part of a hybrid war involving finance, super-computers, special forces operations, news, propaganda, pin-point assassinations and more.
Perhaps the most dramatic, and under-reported, new aspect of this ongoing struggle has been the freeze on global shipping. To confirm reports on the internet of a shipping freeze, this writer called NYK lines, a major international shipping firm, and was told “we cannot speak for the whole world but, as far as our company is concerned, with current shipping prices we will lose money every time we send a ship so we have stopped.” Chinese government sources told this newsletter shipping companies are now demanding to be paid in Chinese yuan and not dollars and that is a major reason for the freeze in shipping worldwide. If this continues, it will lead to empty super-market shelves and social unrest, especially in the US. The announcement last week by Walmart that it is closing 269 stores is just the beginning.
Another major dimension to this hybrid war has been the attack on the oil cartel and control of the petro-dollar. It is this attack, and not oversupply, that is the real reason for oil prices plunging to the $20 per barrel level, and in the case of bitumen, the lowest grade Canadian oil, $8 a barrel level. What is happening is that China is insisting on paying with Yuan for its oil. Furthermore, now that sanctions against Iran have ended, Iran, which has some of the lowest production costs in the world, will be flooding the market with an extra million barrels of oil per day. China is helping both Iran and Russia deal with low oil prices by sending them Chinese goods at cheap prices in exchange for their oil. India is also avoiding the petrodollar when it buys Iranian and Russian oil.
This campaign will continue until Saudi Arabia, the Gulf Cooperation Countries and the big Khazarian banks go under, according to Pentagon white hats. The first Khazarian megabank domino that is expect to fall is