 |
SOCHI, September 20 (Itar-Tass) — Prime Minister Vladimir Putin called for changing the architecture of the international financial system. “We all need to think about changing the architecture of international finances and diversifying risks. The whole world economy cannot depend on one money-printing machine,” Putin said at the final press conference after a meeting of the Russian-French bilateral commission on cooperation in Sochi on Saturday. |
Author Archive
Putin calls for changing the architecture of the international financial system
Posted by seumasach on September 20, 2008
Posted in Uncategorized | Tagged: fall of dollar, international financial system | Leave a Comment »
The End Of The United States
Posted by seumasach on September 19, 2008
Mike Robinson
19th September
As I write this, in a real sucker punch, the FTSE is up 10% so far today. Hooray, the world is saved!
Or not.
What could be behind this insane, hysterical reaction?
Posted in Uncategorized | Tagged: financial collapse | Leave a Comment »
It’s the Derivatives, Stupid! Why Fannie, Freddie, AIG had to be Bailed Out
Posted by seumasach on September 19, 2008
Ellen Brown
18th September, 2008
Something extraordinary is going on with these government bailouts. In March 2008, the Federal Reserve extended a $55 billion loan to JPMorgan to “rescue” investment bank Bear Stearns from bankruptcy, a highly controversial move that tested the limits of the Federal Reserve Act. On September 7, 2008, the U.S. government seized private mortgage giants Fannie Mae and Freddie Mac and imposed a conservatorship, a form of bankruptcy; but rather than let the bankruptcy court sort out the assets among the claimants, the Treasury extended an unlimited credit line to the insolvent corporations and said it would exercise its authority to buy their stock, effectively nationalizing them. Now the Federal Reserve has announced that it is giving an $85 billion loan to American International Group (AIG), the world’s largest insurance company, in exchange for a nearly 80% stake in the insurer . . . . |
Posted in Financial crisis | Tagged: derivatives, financial collapse | Leave a Comment »
Public finances slide deeper into the red
Posted by seumasach on September 19, 2008
This is a hint at the extraordinary costs of public backing for the nascent private banking cartel. The price of this will be payed by all of us through taxation, cuts and, above all, inflation as the pound goes on falling( we are an import dependent economy). The vultures and parasites who fleeced the world for so long have come home to roost and pick the imperial heartland to the bone.
Ashley Seager
19th September, 2008
The public finances suffered yet another lurch into the red last month amid warnings of a record deficit this year that would force the next government to raise taxes or cut spending – or possibly both.
Posted in Financial crisis | Tagged: failing banks, financial collapse, UK government debt | 2 Comments »
Ukraine’s PM blames president for poor relations with Russia
Posted by seumasach on September 18, 2008
Only a couple a weeks after Milliband’s foolish visit, Ukraine appears to be slipping out of Western control.
KIEV, September 17 (RIA Novosti) – Ukrainian Prime Minister Yulia Tymoshenko sharply criticized the pro-Western president on Wednesday for damaging the country’s relations with Russia.
Posted in Multipolar world | Tagged: ukraine EU NATO, ukraine-russia | Leave a Comment »
Bank stocks plummet again despite Fed’s AIG rescue
Posted by seumasach on September 18, 2008
“What is happening out there?” Mack asked in the company-wide email. “It’s very clear to me – we’re in the midst of a market controlled by fear and rumours, and short sellers driving our stock down.”
The whole thing does look choreographed: are we seeing a co-ordinated hit leading to a few selected players taking complete control? The principal players of the shady world of finance are coming to the fore: welcome to The Cartel!
The 73-year-old US investment bank Morgan Stanley became the latest financial titan to cast around for an alliance last night as fading confidence in Wall Street firms sucked its shares down by 24%.
Posted in Financial crisis | Tagged: financial collapse, financial feudalism, Morgan Stanley, The Cartel | Leave a Comment »
King forced into U-turn with extension of liquidity scheme
Posted by seumasach on September 18, 2008
The last pocket of resistance has now folded. The policy is now confirmed: “Save the bankers, sink the pound”. The flight to safety has begun and the price of gold will rise dramatically.
Ashley Seager
18th Septmber, 2008
The Bank of England yesterday reversed its decision to end an emergency lending scheme for banks next month, citing the turmoil in money markets this week since Lehman Brothers collapsed.
Posted in Financial crisis | Tagged: failing banks, financial collapse, Save the bankers, sink the pound! | Leave a Comment »
Gold- Largest One Day Price Rise in History
Posted by seumasach on September 18, 2008
By Mark O’Byrne, Executive Director
18th September
Gold and silver surged yesterday with gold up $69.30 to $847.30/oz and silver up $1.11 to $11.59/oz.
Gold surged by 8.9% to $847.30 (silver +10.6%) at the close in New York and continued to surge in electronic trading to over $870/oz. Asian trading saw the surge continue and gold traded as high as $893/oz. Gold subsequently fell prior to rising to some $870/oz as markets began trading in London. These are unprecedented movements and gold rose from a low of $780 to a high of $893 or more than 14% in less than 24 hours. There is some confusion but some analysts say this is the largest one day dollar price move since 1980 and some saying the largest ever.
Posted in Uncategorized | Tagged: flight to safety, gold | 1 Comment »
Pakistan Invades America — “Without Permission”
Posted by seumasach on September 18, 2008
By M. Junaid Levesque-Alam
17/09/08 “MRZine” — — The U.S. State Department lodged a sharp protest over ongoing Pakistani missile strikes and ground raids today, saying the Islamic Republic was violating American sovereignty.
“We will try to convince Pakistan . . . to respect [the] sovereignty of the United States — and God willing, we will convince,” State Department Spokesman Sean McCormack told reporters.1
The controversy stems from the Pakistan Army’s recent decision, leaked in a prominent Pakistani newspaper, to mount intensifying air attacks and new ground assaults against extremists hiding in American safe havens across the ocean. Read the rest of this entry »
Posted in Drive to Global War | Tagged: bombing of Pakistan | Leave a Comment »
U.S. Government Debt Risk Jumps to Record After AIG Bailout
Posted by seumasach on September 17, 2008
Abigail Moses
Sept. 17 (Bloomberg) — The cost to hedge against losses on U.S. government debt rose to a record after the Federal Reserve rescued American International Group Inc. to avert the worst financial collapse in history.
Posted in Uncategorized | Tagged: US government debt | Leave a Comment »
China paper urges new currency order after “financial tsunami”
Posted by seumasach on September 17, 2008
17th September, 2008
BEIJING (Reuters) – Threatened by a “financial tsunami,” the world must consider building a financial order no longer dependent on the United States, a leading Chinese state newspaper said on Wednesday.
Posted in Financial crisis | Tagged: new financial order | Leave a Comment »
