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 »
Posted in Uncategorized | Tagged: dollar collapse | Leave a Comment »
Posted by seumasach on October 29, 2008
28th October, 2008
(John Laughland for RIA Novosti) – Every evening at 5pm a group of demonstrators meets on Republic Square in central Belgrade to protest “against the occupation of Kosovo” by the European Union.
Posted in Drive to Global War | Tagged: Kosovo | Leave a Comment »
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.'”
Posted in Uncategorized | Tagged: IMF, SDRs | Leave a Comment »
Posted by seumasach on October 29, 2008
Kishore Mahbubani
28th October, 2008
What does the Asian silence on the financial crisis really mean? Does it mean silent gloating, with a heavy dose of schadenfreude? Does it signify terror that Asian economies will also be blown away? Or does it reflect a sober calculation that calm and steady heads are required in such a storm? Amazingly, in the thousands of words spun in the incestuous western discourse on this crisis, little attention has been paid to Asian views, even though the calm and steady responses of China, India and Japan, the three anchor Asian economies, provide hope that there may be some pillars of stability in the swirling storm.
Posted in Uncategorized | Tagged: ASEAN, financial collapse | Leave a Comment »
Posted by smeddum on October 29, 2008
In wake of U.S. attack, Syria shuts down American institutions
γαρ | 28.10.2008 18:13 indymedia
The Syrian cabinet decided on Tuesday to shut down an American school and an American cultural center in Damascus, the Syria’s official SANA news agency said, two days after a U.S. military raid in Syria. Syria said the Sunday helicopter strike on the village of Sukkariyeh, five miles (8 kilometers) from the border with Iraq, killed eight civilians.. Read the rest of this entry »
Posted in Uncategorized | Tagged: Syria, US aggression | Leave a Comment »
Posted by smeddum on October 29, 2008
Rise of the Rest
Pankaj Mishra London review of books
The Post-American World by Fareed Zakaria
The Second World: Empires and Influence in the New Global Order by Parag Khanna
In 1946, George Kennan, then the deputy head of the US mission in Moscow, sent a 5300-word telegram to Washington, hoping to alert his superiors to the threat of Soviet expansionism. Kennan had complained repeatedly and fruitlessly about what he saw as America’s indulgent attitude towards the Soviet Union, but for a crucial moment in 1946 his idea that the US should strike an alliance with Western Europe in order to contain Soviet Communism found listeners in Washington. The so-called Long Telegram, subsequently turned into an article in Foreign Affairs, became the basis of the Truman Doctrine, which proclaimed America’s willingness to fight the spread of Communism, militarily as well as economically. Read the rest of this entry »
Posted in Multipolar world | Tagged: China, end of US empire, Multipolar world, russia | Leave a Comment »
Posted by smeddum on October 29, 2008
Oct. 29, 2008 Kommersant
BBC Has Proof of Georgian War Crimes
The British Broadcasting System has obtained evidence that Georgia used military force against civilians. BBC employees say witnesses saw Georgian forces firing on a residential building and on civilians fleeing to save themselves. Georgian President Mikheil Saakashvili denies those accusations. “War crime s were committed, but not by us,” he replied. He also noted Tbilisi is open to “comments of any kind and any investigations.” Read the rest of this entry »
Posted in Uncategorized | Tagged: Georgia | Leave a Comment »
Posted by seumasach on October 29, 2008
Using the language of Marxism and its ultimatist postulates James Petras is, in effect, showing how the present crisis provides opportunities to role back the Bolivarist movement in South America and any other nationalist-populist tendencies through ” the class struggle and the struggle for state power”. He may make it sound good, but it is basically the same game which we have seen the Marxists play in trying to destabilise Zimbabwe, Iran, Russia and China. Of course, South American states, like all others will be hard hit by the collapse of the Dollar/pound system, precisely because it is a global system. However, the real test for Chavez, Lula and co. is still to come: can they combine with Russia, China and others to block Washington and London’s destructive resolution of the crisis? Can they make a multipolar, alternative global agenda a reality and thus lay the basis for a new era of peace and prosperity?
James Petras
October 28, 2008
Latin America is entering a period of profound economic recession, financial crises, collapsing stock market quotations, prices, deep devaluation of its currencies, growing unemployment, declining revenues and the prospect of a prolonged socio-economic recession. The economic breakdown, which is still unfolding, affects the entire political spectrum, extending from the far-right Uribe regime in Colombia to the social-liberal Chilean and Brazilian governments of Bachelet and Lula da Silva to the ‘center-left’ regimes of Evo Morales in Bolivia and Rafael Correa in Ecuador and even to the leftist government of Hugo Chavez.
Posted in Multipolar world | Tagged: Bolivarian Revolution | 1 Comment »
Posted by smeddum on October 29, 2008
Posted in Uncategorized | Tagged: Democrats, Election 2008, halloween, McCain, Obama, Republicans, Sarah Palin, US election poll, US elections, Youtube | Leave a Comment »
Posted by smeddum on October 29, 2008
Economic Deflation in Gold Terms and the U.S. Dollar Collapse
Economics / Deflation
Oct 29, 2008 – 06:44 AM
By: Eric_deCarbonnel Market Oracle
We have finally gotten to the point where most investors and the media understand the severity of the credit crisis and are expecting deflation. It is a good start, but unfortunately, it still isn’t quite right. Read the rest of this entry »
Posted in Financial crisis | Tagged: dollar collapse | Leave a Comment »
