Archive for the ‘Financial crisis’ Category
Posted by smeddum on October 17, 2009
European Commission has serious concerns about British economy
October 15, 2009
Globally
Government officials are furious at recent reports from Brussels that the U.K. is seriously in danger of going bust. The reports put Britain on a high risk list of countries that are struggling to keep control of their national debt. The European Commission says that because of the U.K.’s increasing budget deficit they fear that it will not be able to pay for spending it has already committed to. One example given was pensions. Read the rest of this entry »
Posted in Financial crisis, UK economy | Tagged: bankrupt Britain | Leave a Comment »
Posted by smeddum on October 16, 2009
FRIDAY, OCTOBER 16, 2009
MSM Reporting as Propaganda (No One Minds Our New Financial Masters Edition)
I’m of two minds about taking up this theme, since stating what ought to be obvious but is nevertheless unpleasant and inconvenient is apt to get one branded as lunatic fringe.
Access journalism has created what is in many respects a controlled press. And that matters because people are far more suggestible than most of us wants to admit to ourselves. Read the rest of this entry »
Posted in Financial crisis | Tagged: Media deception | Leave a Comment »
Posted by smeddum on October 14, 2009
Dollar loses reserve status to yen & euro
By PAUL THARP
October 13, 2009
NY Post
Ben Bernanke’s dollar crisis went into a wider mode yesterday as the greenback was shockingly upstaged by the euro and yen, both of which can lay claim to the world title as the currency favored by central banks as their reserve currency. Read the rest of this entry »
Posted in Financial crisis | Tagged: dollar collapse | Leave a Comment »
Posted by smeddum on October 13, 2009
By Tim Shipman
13th October 2009
Daily Mail
There was a Gordon of Brown
Who sold gold when it was down
Right at the bottom
Now in the Autumn
He looks to sell the whole town (fromMaxKeiser.com)
The pound fell to its lowest level in six months last night on news of Gordon Brown’s £16billion asset sale to ease the growing national debt.
Sterling plunged after the Prime Minister announced the plan to sell central and local government assets over the next two years. Read the rest of this entry »
Posted in Financial crisis, UK economy | Tagged: pound's pounding | Leave a Comment »
Posted by seumasach on October 10, 2009
Jim Willie
Market Oracle
8th October, 2009
The story hit like a thief in the night, even bearing Biblical proportions. The end of the exlusive sale of MidEast oil in USDollars, the rise of Russian and Chinese influence in the Persian Gulf, the rise in importance for the Intl Monetary Fund basket of currencies, the final clarion call for the free ride by Americans on the Dollar Credit Card, and hidden implications that the Saudis must shop for a new security lord in the region with broad military might, these are revolutionary steps with profound geopolitical implications.
Read the rest of this entry »
Posted in Financial crisis, Multipolar world | Tagged: dollar collapse, End of empire, gold, Multipolar world, new financial architecture, reserve currencies | Leave a Comment »
Posted by smeddum on October 8, 2009
A Media Failure Compounds The Financial Failure:
The Press Is Still Missing The Story Of Fraud and Economic Decline Ahead
by Danny Schechter
Global Research,
October 8, 2009
We know that Wall Street has not learned much from the crash it helped instigate. We know that our government, whatever its stated desire to clean up the markets and reform the financial behemoths, lacks the willingness and perhaps the clout to rein in the real power centers. We are not sure if they have been “captured” by them, or just lack the guts to take on institutions and individuals that helped fund their rise to power. Read the rest of this entry »
Posted in Financial crisis | Tagged: Media deception | Leave a Comment »
Posted by smeddum on October 7, 2009
Gold Trades Near Record, May Gain on Dollar Weakness, Inflation
By Kim Kyoungwha
Oct. 7 (Bloomberg) — Gold traded near a record after investors bought the metal to hedge against a declining dollar and pickup in inflation.
Bullion, which typically moves inversely to the U.S. currency, surged to an all-time high yesterday after Australia unexpectedly raised interest rates, hurting the dollar. The metal has risen 18 percent this year as governments boost spending to pull their economies out of recession, sparking speculation rising money supply will debase paper currencies. Read the rest of this entry »
Posted in Financial crisis | Tagged: dollar decline, gold | Leave a Comment »
Posted by smeddum on October 6, 2009
Is Baltic Dry a harbinger of doom?
Philip Coggan InvestmentAdviser
Monday , October 05, 2009
FTadviser
The pubs and coffee shops of Britain are probably not full of chat about the Baltic Dry index.
But it is worth a look all the same, as the index tracks the cost of moving raw materials by sea. It is thus a rough-and-ready guide to global trade activity, although of course it is also affected by shipping capacity. Read the rest of this entry »
Posted in Financial crisis | Tagged: Baltic Dry Index, shipping crisis | Leave a Comment »
Posted by smeddum on October 6, 2009
The world’s oil producers, as well as China and France, are planning to end using the dollar as the currency to buy and sell oil, the Independent newspaper reported.
Telegraph
06 Oct 2009
The move would see oil priced not in dollars but in a unit based on a basket of currencies including the Chinese yuan, the Japanese yen, and a new currency intended for use by the Gulf emirates, according to a report in Tuesday’s Independent newspaper. The paper added that the transistion from the dollar to a new currency will take almost a decade. Read the rest of this entry »
Posted in Financial crisis | Tagged: dollar collapse | Leave a Comment »
In These New Times 