Posted by smeddum on November 1, 2008
FOR THE 17TH CONSECUTIVE OCCASION
Overwhelming UN General Assembly vote against blockade of Cuba granma
NEW YORK.—The UN General Assembly today approved by an overwhelming majority the resolution demanding an end of the U.S. blockade of Cuba, a vote passed by the Assembly over 17 years, the news agencies report. Read the rest of this entry »
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Posted by seumasach on October 31, 2008
Henry C.K. Liu
31st October, 2008
More than three years before the current financial crisis, in a series Greenspan, the Wizard of Bubbleland that began on September 14, 2005, I warned:
Through mortgage-backed securitization, banks now are mere loan intermediaries that assume no long-term risk on the risky loans they make, which are sold as securitized debt of unbundled levels of risk to institutional investors with varying risk appetite commensurate with their varying need for higher returns. But who are institutional investors? They are mostly pension funds that manage the money the US working public depends on for retirement. In other words, the aggregate retirement assets of the working public are exposed to the risk of the same working public defaulting on their house mortgages.
When a homeowner loses his or her home through default of its mortgage, the homeowner will also lose his or her retirement nest egg invested in the securitized mortgage pool, while the banks stay technically solvent. That is the hidden network of linked financial landmines in a housing bubble financed by mortgage-backed securitization to which no one is paying attention. The bursting of the housing bubble will act as a detonator for a massive pension crisis
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Posted by smeddum on October 31, 2008
Mr. Saakashvili, it is time to say goodbye
Front page / Opinion / Columnists
30.10.2008 Source: Pravda.Ru
Pages: 1
The Fat Lady has sung, the BBC, mouth piece of the British Neocons, has declared that, yes, Georgia and Saakashvili in particular are guilty of the murder of civilians in South Ossetia. Of course, they quickly then backed it up by saying Russia was wrong in defending those civilians being butchered by the Georgians. After all, we would not want Russia and the Russian people to feel they were right, even when they were, now would we? Read the rest of this entry »
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Posted by smeddum on October 31, 2008
Chávez: “Economic crisis must serve to create a new international order”
POLITICS El Universo
Venezuela’s Hugo Chávez restated Thursday the need to seize the global financial crisis to create “new international institutions.”
Chavez made his proposal during a special event dedicated to the social integration of disabled persons, in a nationwide mandatory radio and TV broadcast. Read the rest of this entry »
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Posted by seumasach on October 30, 2008
“Ainsi, non seulement les citoyens ne choisissent pas leurs dirigeants, mais ce sont les dirigeants qui choisissent leurs électeurs.”
Thierry Meyssan
Les médias des États membres de l’OTAN accordent une très large couverture de l’élection présidentielle US. Ce faisant, ils transmettent un double message : l’avenir des peuples alliés se joue à Washington, et les États-Unis sont un modèle démocratique. Or, il est admis que l’élection présidentielle US est faussée par l’argent. L’édition 2008 a déjà coûté plus 1,5 milliards de dollars. Cependant cette critique est superficielle en ce qu’elle laisse croire que les moyens financiers font le vainqueur, alors que c’est peut-être l’inverse : l’argent va au vainqueur préalablement désigné. En réalité, remarque Thierry Meyssan, la classe dirigeante US manipule chaque étape du processus électoral, des primaires aux conventions, des listes électorales aux machines à voter. Aux États-Unis, la démocratie est une pure fiction.
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Posted by seumasach on October 30, 2008
30th October, 2008
First Vice-President Parviz Davoudi, currently in Astana, Kazakhstan, offered major proposals on Thursday to boost cooperation among the Shanghai Cooperation Organization’s member states.
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Posted by seumasach on October 30, 2008
China said Thursday its financial markets would remain stable enough to allow it help ex-Soviet Central Asian countries weather the global economic crisis — assistance that would augment Beijing’s increasing influence in the region.
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Posted by seumasach on October 30, 2008
The Russian Prime Minister, Vladimir Putin, has called for a complete overhaul of the world’s financial system in order to guarantee stability and ensure progress. He was speaking in Astana in Kazakhstan, where the Shanghai Cooperation Organisation is meeting to in discuss the global financial crisis.
30th October, 2008
The organisation, which comprises Russia, Kazakhstan, Kyrgyzstan, China, Tajikistan and Uzbekistan, is widely seen as a counter-weight to NATO’s influence in Eurasia. It is primarily concerned with security issues. This time, however, the sides are discussing how to develop social and economic cooperation.
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Posted by smeddum on October 30, 2008
China ‘needs to take active role’
By Fu Jing (China Daily)
Updated: 2008-10-29 09:42
A top economist and leading bankers said yesterday that China should be an active player in rebuilding the battered international financial system in order to ensure a stable and mutually beneficial global economic order. Read the rest of this entry »
Posted in Uncategorized | Tagged: China, reserve currency | 1 Comment »
Posted by smeddum on October 30, 2008
Why Gold Might Soar Over the Next Four Weeks
By Patrick A. Heller, Market Update
October 28, 2008 Numismaster
Whether or not you acknowledge past efforts by the U.S. government with other governments, central banks and private trading partners to suppress the gold spot price, events coming to pass in the next four weeks could create overwhelming pressure causing much higher gold prices.
Last Friday, the Taiwan government announced that it had completely liquidated its holdings of Fannie Mae, Freddie Mac and Ginnie Mae bonds. If a long-time ally of the United States is willing to admit that it is bailing out of dollar-denominated debt, will other nations continue to show restraint? Read the rest of this entry »
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Posted by seumasach on October 29, 2008
27th october, 2008
In an article entitled “IMF may need to ‘print money’ as crisis spreads”, the Telegraph reveals that the IMF has the power to create money just like the Federal Reserve:
“The nuclear option is to print money by issuing Special Drawing Rights, in effect acting as if it were the world’s central bank. This was done briefly after the fall of the Soviet Union but has never been used as systematic tool of policy to head off a global financial crisis.
‘The IMF can in theory create liquidity like a central bank,’ said an informed source. ‘There are a lot of ideas kicking around.'”
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In These New Times 