June 26th, 2014
in Op Ed
Out-of-control Central Banks on a Corporate Buying Spree
by Ellen Brown, Web of Debt
Finance is the new form of warfare - without the expense of a military overhead and an occupation against unwilling hosts. It is a competition in credit creation to buy foreign resources, real estate, public and privatized infrastructure, bonds and corporate stock ownership. Who needs an army when you can obtain the usual objective (monetary wealth and asset appropriation) simply by financial means? - Dr. Michael Hudson, Counterpunch, October 2010
Written by Frank Li
This post was triggered by a recent article by Francis Fukuyama: At the 'End of History' Still Stands Democracy (Wall Street Journal, June 7-8, 2014).
Mr. Fukuyama is best known for his 1989 article "The End of History?" In that article, Mr. Fukuyama argued that:
The triumph of the West, of the Western idea, is evident first of all in the total exhaustion of viable systematic alternatives to Western liberalism.
The Sunni rebels in Iraq have made further gains, taking control of important border crossings with Syria and Jordan, the Rutba truck-stop on the main road from Baghdad to the Jordan border and two towns on the Euphrates. They may even have taken the key hydroelectric power station at the Haditha Dam and have certainly got control of the strategic airport at Tal Afar in the north. Meanwhile the fight for Iraq’s largest oil refinery at Baiji continues.
June 24th, 2014
in Op Ed
Conflict between Iraqi government forces and Sunni militia group ISIS to the north of Baghdad has prompted some headlines to talk of “soaring prices”. Friday’s Financial Times was more measured, reporting that Brent Crude, “has seen only modest gains, rising just over $5 a barrel to a nine-month high of $115 since the onslaught by Sunni militia began two weeks ago.”
June 23rd, 2014
in Op Ed
by Lee Adler, Wall Street Examiner
Here's something I missed back in May that makes me mad as hell. And it should make you mad as hell too.
The Fed has expanded its Term Deposit Operations, moving more spaghetti around on the plate, the plate being the liability side of its balance sheet- aka "money." The Fed announced that it would do 8 weekly operations with its member banks beginning on May 19. The first 4 are at approximately 26 basis points, then the next 4 at 30 basis points. These deposits are like bank CDs with a term of 7 days.