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Archive for the ‘Financial crisis’ Category
The financial system established in England after 1688, based on usurious lending to the state by private bankers, is reaching its final blowout in the form of a series of devastating bubbles and a massive bailout of the financiers with public money. But the issuance of money doesn’t have to be in the hands of a private consortium: another credit system is possible.
Radio: Jim Willie on paradigm shift, big changes ahead
Posted by smeddum on May 27, 2009
Posted in Financial crisis | Tagged: Jim Willie | Leave a Comment »
La Chine commence à s’écarter du dollar
Posted by seumasach on May 27, 2009
22nd May, 2009
L’accord monétaire tacite entre Washington et Pékin est désormais rompu. Au cours des dernières années, la banque Goldman Sachs avait joué les bons offices pour convaincre le gouvernement US d’accepter la sous-évaluation du yuan, et pour convaincre en échange le gouvernement chinois d’investir en bons du Trésor US. Dés le début de la crise économique aux États-Unis, le directeur de Goldman Sachs, Henry Paulson, avait été nommé par le président Bush secrétaire au Trésor avec toute latitude pour maintenir cet accord. Plus récemment, le président Obama a nommé le lobbyiste pro-Chinois Gary Locke secrétaire au Commerce afin de poursuivre coûte que coûte cette coopération. Pourtant :
Posted in Financial crisis | Tagged: dollar collapse, End of empire, reserve currency status of dollar | Leave a Comment »
Where did America’s missing millions go? Holodomor Lessons
Posted by seumasach on May 27, 2009
That the horrors of the Great Depression went beyond what we have received in school history books is already clear from Steinbeck’s magnificent Grapes of Wrath. The pattern of the the most unfortunate amongst us simply disappearing from media view is being reproduced now: everything is cool until you lose your job, your house or your health, at which point you too disappear from official life and your nightmare begins- you become a “loser”.
Boris Borozov
15th October, 2008
U.S. history contains a serious crime against its own people – the Great American Holodomor of 1932/33, which cost the lives of millions. Historian Boris Borisov suggests the U.S. should not lecture Russia on Holodomor in Ukraine, but take a closer look at the lessons from its own past
Posted in Financial crisis | 1 Comment »
Ex-SAS officer is expenses whistleblower
Posted by seumasach on May 25, 2009
After the City Gang’s multibullion pound heist and the ongoing looting of public funds a diversion was necessary to focus public anger elsewhere. Enter John Wick, “head of a corporate intelligence company”, which just happens to have access to MPs expenses details. The ploy has worked a treat: not only is public anger diverted towards those MPs guilty of malfeasance but to the wider political class. Which of them now dare point the finger at the banksters? The public still lose everything but have the consolation of seeing a few people exposed for minor corruption.
But the oligarchs shouldn’t perhaps be too smug: they have created a political vacuum which may return to haunt them.
23rd May, 2009
A former SAS officer who passed secret details of MPs’ expenses claims to The Daily Telegraph broke cover last night to insist he had “no regrets” about the leak that has rocked Westminster.
Posted in Financial crisis | Tagged: financial fraud, MPs expenses scandal, stop the bailout | Leave a Comment »
Loud Paradigm Shift Rumblings
Posted by seumasach on May 24, 2009
Jim Willie
21st May, 2009
Numerous events have taken place of global importance. Alone, each story seems of some significance. Together, they paint a mosaic of extreme change in a very dangerous sequence of events that fit together. The greater aggregate story is that a tremendous paradigm shift is underway, with early steps and major moves by global players in clear view. The Western analysts and pundits and mavens are missing it. A PARADIGM SHIFT HAS BEGUN, WITH BANKING POWER SHIFTING TO THE CREDITOR NATIONS AS THE USDOLLAR IS SUPPLANTED, MADE POSSIBLE BY SEVERAL NEW INSTITUTIONAL PILLARS AS WELL AS NEWLY FORGED ALLIANCES. The consequences are significant and will change the face of global banking and commerce. The Hat Trick Letter has described the various steps and their importance all along the way. Much more detail is provided for each major point to follow in the HTLetter reports. Some in the United States and England believe that a return to normalcy comes. They are wrong by 180 degrees. The G20 Meeting of finance ministers and heads of state was the warning. The message from that meeting in London has been long forgotten, a call made in my public article immediately after its conclusion. This article provides an outline of events that have occurred only in the last few weeks, as the pace is accelerating for transformation that begins at the foundation. Piece it all together, use some mental power, sprinkle with only a little imagination, connect some dots easily, and take a look at the global picture that is emerging. Yesterday came the crowning blow, as the United Arab Emirates rejected the Saudis in the Gulf monetary union. My belief is that the rising power in the UAE wants Russia instead of the Saudis, who are tied at the US hip.
Posted in Financial crisis | Tagged: Chinese soft power, dollar collapse, End of empire, Multipolar world, new paradigm | 1 Comment »
Paul Graig Roberts on the two trillion dollar deficit.
Posted by smeddum on May 22, 2009
Posted in Financial crisis | Tagged: The "phony flight to quality" | Leave a Comment »
The Weimar Hyperinflation? Could it Happen Again?
Posted by smeddum on May 20, 2009
The Weimar Hyperinflation? Could it Happen Again?
by Ellen Brown
Global Research, May 19, 2009
webofdebt.com
“It was horrible. Horrible! Like lightning it struck. No one was prepared. The shelves in the grocery stores were empty. You could buy nothing with your paper money.” – Harvard University law professor Friedrich Kessler on the Weimar Republic hyperinflation (1993 interview) Read the rest of this entry »
Posted in Financial crisis | Tagged: hyperinflation | 1 Comment »
U.S. Needs More Inflation to Speed Recovery, Say Mankiw, Rogoff
Posted by smeddum on May 20, 2009
By Rich Miller
May 19 (Bloomberg) — What the U.S. economy may need is a dose of good old-fashioned inflation.
So say economists including Gregory Mankiw, former White House adviser, and Kenneth Rogoff, who was chief economist at the International Monetary Fund. They argue that a looser rein on inflation would make it easier for debt-strapped consumers and governments to meet their obligations. It might also help the economy by encouraging Americans to spend now rather than later when prices go up. Read the rest of this entry »
Posted in Financial crisis, Uncategorized | Tagged: inflation, inflationary crisis, inflationism | Leave a Comment »
Nation Ready To Be Lied To About Economy Again
Posted by seumasach on May 20, 2009
4th May, 2009
WASHINGTON—After nearly four months of frank, honest, and open dialogue about the failing economy, a weary U.S. populace announced this week that it is once again ready to be lied to about the current state of the financial system.
Posted in Financial crisis | Tagged: End of empire, financial collapse | Leave a Comment »
China holds sway over US$
Posted by seumasach on May 20, 2009
16th May, 2009
“The U. S. should be afraid, very afraid. China is questioning the dollar’s status as a reserve currency and, at US$1,000 an ounce, gold has become the world’s de facto currency.” — John Ing, Maison Placements in CanadaIt is a chilling statement from an expert on both gold and China. But he is speaking the truth: In a G2 world (the United States and China), he who is the piper calls the tune, and China holds a US$2-trillion mortgage on the United States and is not happy. This country, along with others that lend money to the United States, such as Saudi Arabia, will determine the value of the U. S. dollar and gold. And they have spoken. They are not buying more U. S. treasuries and are buying gold as a new asset class. China announced that it was doing so quietly, and recent reports are that the Saudis and others have been buying bullion and hocked gold jewellery from around the world.
Posted in Financial crisis | Tagged: dollar collapse, gold | Leave a Comment »
In These New Times 