Economy

Russia and China Challenge Dollar Domination

The Russian government has recently announced it will issue nearly $1 billion equivalent in state bonds, but denominated not in US dollars as is mostly the case. Rather it will be the first sale of Russian bonds in China’s yuan. While $1 billion may not sound like much when compared with the Peoples’ Bank of China total holdings of US Government debt of more than $1 trillion or to the US Federal debt today of over $20 trillion, it’s significance lies beyond the nominal amount.

“The West, EU, US aggravate Syrian people’s suffering by sanctions”

The Irish politician Clare Daly, who recently visited Syria along with European delegation, has affirmed that the West and the European Union are aggravating the Syrian people’s suffering by sanctions and the U.S. support for Saudi Arabia and Israel in the region. “It is not up to anybody other than the Syrian people to decide their representation”

How to Wipe Out Puerto Rico’s Debt Without Hurting Bondholders

Italy’s non-performing loans (NPLs) then stood at €210bn, at a time when the ECB was buying €120bn per year of outstanding Italian government bonds as part of its QE program. The July 2016 Financial Times quoted Goldman’s Francesco Garzarelli, who said, “by the time QE is over – not sooner than end 2017, on our baseline scenario – around a fifth of Italy’s public debt will be sitting on the Bank of Italy’s balance sheet.”

How Billionaires Become Billionaires

America has the greatest inequalities, highest mortality rate, most regressive taxes, and largest public subsidies for bankers and billionaires of any developed capitalist country.

In this essay we will discuss the socio-economic roots of inequalities and the relation between the concentration of wealth and the downward mobility of the working and salaried classes.

Finance, War, and the Rule of Rogue Law

Why is it that certain ‘regimes’ become ripe for imperial subversion or overthrow? What was it, in particular, that linked together the list of countries that retired general Wesley Clark shared in his famous 2007 interview as being next in the sights of the United States’ bellicose intentions and most of which since have indeed been plunged into horrendous wars?

A Sinister War on Our Right to Hold Cash

An operation that began as a seemingly obscure academic discussion three years ago is now becoming a full-blown propaganda campaign by some of the most powerful institutions in the industrialized world. This is what rightly should be termed the War on Cash. Like the War on Terror, the War on Cancer or the War on Drugs, its true agenda is sinister and opaque. If we are foolish enough to swallow the propaganda for complete elimination of cash in favor of pure digital bank money, we can pretty much kiss our remaining autonomy and privacy goodbye.