Posts Tagged ‘Financial crisis’
Posted by seumasach on May 26, 2011
Jim Willie
Market Oracle
26th May, 2011
It is not clear whether the American financial community has the ability to observe and conclude that the US Federal Reserve is adrift and relies upon deception as policy in revealing its directions. Its position is to hold steady, inflate to oblivion, support financial markets in heavy volume secretly, and lie about leaving its trapped policy corner. The USFed is a propaganda machine that deals with ruses as a substitute for transparent policy discussion in the public forum. Two years ago the ruse disseminated widely was the Green Shoots of an economic recovery that had no basis at all.
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Posted in Financial crisis | Tagged: dollar collapse, End of empire, Financial crisis, QE3 | Leave a Comment »
Posted by seumasach on December 8, 2009
FT
A senior Chinese official who oversees China’s largest state-owned enterprises has publicly slammed western investment banks for “maliciously” peddling complicated derivative products that caused huge losses for Chinese companies. In Beijing’s strongest criticism on the matter to date, Li Wei, vice director of the state-owned Assets Supervision and Administration Commission, singled out Goldman Sachs, Morgan Stanley, Merrill Lynch and Citigroup in a critical article in the official Communist party newspaper.
Posted in Financial crisis, Multipolar world | Tagged: China, Financial crisis | Leave a Comment »
Posted by seumasach on September 20, 2009
Iceland Weather Report
18th September, 2009
Icelandic households are in serious trouble. When the economy melted down last year, the krona plummeted and loans that people had taken in foreign currencies [they were all the rage here in 2006-2008] went through the roof. Initially the government responded by allowing people to freeze their loan payments for the time being. That freezing runs out in October, at which time households that are already heavily indebted will face an even greater burden, that in many cases will be insurmountable. Defaults have already started to increase – and starting in October they are likely to increase even more.
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Posted in Revolution in Iceland | Tagged: bankrupt iceland, Financial crisis, Revolution in Iceland | Leave a Comment »
Posted by smeddum on September 2, 2009
Posted in Financial crisis | Tagged: Financial crisis | Leave a Comment »
Posted by seumasach on July 24, 2009
Ambrose Evans-Pritchard
Telegraph
22nd July, 2009
Iceland’s new finance minister Steingrímur Sigfússon is not looking for a fight with Britain. But like every citizen of this rocky outpost, he thinks the British government’s draconian sanctions against his country at the height of the financial crisis last year were grotesque and have made it much harder to clinch a deal to refund IceSave depositors in the UK.
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Posted in Revolution in Iceland | Tagged: Financial crisis, Icesave, Revolution in Iceland | Leave a Comment »
Posted by seumasach on July 20, 2009
Paul Craig Roberts
Vdare
17th July, 2009
There is no economy left to recover. The US manufacturing economy was lost to offshoring and free trade ideology. It was replaced by a mythical “New Economy.”
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Posted in Financial crisis | Tagged: Financial crisis, Goldman Sachs, Obama agenda, stop the bailout | Leave a Comment »
Posted by seumasach on June 21, 2009
F. William Engdahl
Global Research
10th June, 2009
Increasingly a deep divide within the world of globalization is emerging which will have the most profound significance for the future of G7 nations’ economic and political stability. The divide is between those nations which are still embedded within the dollar system, including countries in the Eurozone, versus those emerging economies—especially the BRIC—Brazil, Russia, India, China—where new economic markets and regions are rapidly replacing their over-dependence on the United States as prime export market and prime source for investment finance. The long-term consequences will be an aggravation of the trend of the United States as a political and economic superpower in terminal decline, while dynamic new economic zones, initially mainly of regional importance, will arise.
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Posted in Multipolar world | Tagged: BRIC alliance, Financial crisis, Multipolar world | Leave a Comment »
Posted by seumasach on June 18, 2009
W Joseph Stroupe
Asia Times
18th June, 2009
Decoupling on the part of the under-developed economies is defined as accelerating along the path of eliminating inordinate reliance upon the US and other developed economies as export markets. Decoupling would also tend to undermine reliance upon the dollar and boost the role of regional currencies in trade, finance and in forex reserves composition.
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Posted in Multipolar world | Tagged: BRIC alliance, China, decoupling, Financial crisis, global reserve currencies | Leave a Comment »
Posted by seumasach on June 18, 2009
The dangerous consequences of New Labour’s massive bailout of the banks is causing some disquiet. As we have already noted King appears intent on protecting the pound, for whose value the Government seems to have a cavalier disregard. As UK PLC goes down we can expect more sparks to fly as the elite agenda starts to fragment.
This Is Money
18th June, 2009
Government policy on City regulation was last night thrown into deeper confusion by sharply contrasting speeches by Mervyn King and Alistair Darling.
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Posted in Financial crisis | Tagged: bankrupt Britain, failing banks, Financial crisis, King v. Darling, stop the bailout | Leave a Comment »
Posted by seumasach on June 16, 2009
W.Joseph Stroupe
Asia Times
17th June, 2009
Russia announced on June 10 that it will purchase US$10 billion of the new SDR-denominated International Monetary Fund bonds. It also announced that it will further diversify its $140 billion of US dollar holdings. Brazil will also buy $10 billion worth of the new bonds, and China will buy $50 billion of the new bonds. India will likely announce its own purchases very soon.
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Posted in Multipolar world | Tagged: BRIC alliance, China, End of empire, Financial crisis, panda bonds, Russian diplomacy, SCO | Leave a Comment »
Posted by seumasach on June 12, 2009
As we predicted at the time, the return of Mandelson has reopened the question of joining the Euro. Recent events tend to confirm that Mandelson has influential backing within the British elite: his coming out on the euro seems to indicate, therefore, a deep division within them. We could posit that Mandelson represents a “realist” element, who recognise the game is up for the pound. It will be interesting to look for the reaction to this statement.
Daily Mail
12th June, 2009
Lord Mandelson has reopened the divisive issue of joining the single currency.
The Business Secretary described it as an “important objective” for Britain during a trip to Berlin, hailing the euro as “a great success”.
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Posted in Battle for Europe, Financial crisis | Tagged: End of empire, euro, Financial crisis, join the euro! | Leave a Comment »
