Pedro Paez Perez, member of the Stiglitz Commission on the global financial and economic crisis, highlights recommendations for a new reserve currency, regional macroeconomic coordination, and reorientation of trade goals toward stimulating employment and international cooperation. July/August 2009. Pedro Paez Pérez was the Ecuadorian Minister of Economic Co-ordination in President Correa’s government between October 2007 and December 2008
Början av december, 2010. "På EU:s toppmöte den 28 oktober uppges Tysklands förbundskansler Angela Merkel ha flaggat för att Tyskland har börjat fundera på att överge EMU. ”Om det här är den klubb som euron verkar utvecklas till kanske Tyskland borde dra
By Andrew Trotman, Telegraph 10 Feb 2011 (250 Comments) “Global imbalances are back, with issues that worried us before the crisis - large and volatile capital flows, exchange rate pressures, rapidly growing excess reserves - on the front burner once agai
Pimco Gross Investment Outlook January "2012 Paranormal This process of delevering has consistently been a part of PIMCO’s secular thesis but “implosion” and “bimodal fat tailed” outcomes are New Age and very “2012ish.” Perhaps the first observation to be made is that most developed economies have not, in fact, delevered since 2008. Certain portions of them – yes: U.S. and Euroland households; southern peripheral Euroland countries. But credit as a whole remains resilient or at least static because of a multitude of quantitative easings (QEs) in the U.S., U.K., and Japan. Now it seems a gigantic tidal wave of QE is being generated in Euroland, thinly disguised as an LTRO (three-year long term refinancing operation) which in effect can and will be used by banks to support sovereign bond issuance. Amazingly, Italian banks are now issuing state guaranteed paper to obtain funds from the European Central Bank (ECB) and then reinvesting the proceeds into Italian bonds, which is QE by any definition and near Ponzi by another."
The United Nations is convening a three-day summit of world leaders from 24 to 26 June 2009 at its New York Headquarters... was mandated at the Follow-up International Conference on Financing for Development, held in December 2008 in Doha. the General As
Susanne Trimbath 11/26/2008: "The market for US Treasury bonds has been in serious disarray since the days immediately following September 11, 2001. Despite reports, reviews, examinations, committee meetings, speeches, and advisory groups formed by the US
Jan Wiklund: "I USA följdes krisen av 30-talets mest militanta arbetarmobilisering. Dussintals storindustrier ockuperades av strejkande arbetare vilket tvingade regeringen att svara på något vis, vilket blev till the New Deal."
Strange as it may seem – and irrational as it would be in a more logical system of world diplomacy – the “dollar glut” is what finances America’s global military build-up. - glut: överskott; överflöd.
By Ellen Nakashima Washington Post , March 4, 2009. --In 2008, the Govt Accountability Office reported that cost overruns on the Pentagon's 95 largest weapons acquisitions system totaled about $300 billion -- Legislation sponsored by Sen. Carl M. Levin (D
Table 5. Foreign official assets in the United States, updated quarterly. As of Dec 31,2009: 3,775,693 million USD. Asia: 2,838,469 (ca 75 %) Europe: 562,971 (ca 15 %)
President Condé of Guinea at Davos , Jan 2014 (Guardian 22.1.14): "... we live in a global economy. We simply can't deal with the network of corruption embedded in a few key western institutions from a distance of nearly 3,000 miles. These corrupt practitioners operate from the west, but their practices are global and require a global response. Only tighter, more responsive and highly co-ordinated action between law enforcement authorities in both developing nations and the world's financial centres will be effective... With international legal co-operation, Guinea will soon be announcing the outcome of an investigation into some of the most disturbing allegations of mining corruption in Africa's history. I ask other countries to do the same with their own financial institutions."
FLASSBECK: [...] I would really wish that some more people take the opportunity to--this opportunity again to really reconsider what is happening in the markets and the misbehavior of the markets, the mispricing of the markets, and all these things--but as I said, even otherwise rather progressive economists shying away from naming it, naming it what it is, namely, the failure of the market to find the right price for the currencies. It's not a lack of capital controls and things. All this can help, but it's not a solution. The solution is: take the currency valuation, the exchange rate out of the hands of the market. This is the only solution that is reasonable and rational.
Åsa Mobergs kapitel om rivningen av Barsebäck i ny bok "Ett extremt dyrt och livsfarligt sätt att värma vatten" : "Efter Sovjetunionens sönderfall skulle västliga normer för säkerheten tillämpas och åtskilliga reaktorer avvecklades.... EU hjälper till ekonomiskt eftersom stängningarna ofta är en följd av krav från väst. 2011 hade EU beviljat anslag på 3 miljarder euro, eller 25 miljarder kronor, till rivning av reaktorer i Litauen, Bulgarien och Slovakien. Mellan 2014 och 2020 kommer dessa länder att få ytterligare 500 miljoner euro, omkring 4,3 miljarder kronor. Det är mycket mindre än de berörda länderna begärt. Enligt Litauens premiärminister Andrius Kublius är summan oacceptabelt låg. Litauen hade bett om 700 miljoner euro och de andra om liknande summor. Alla tre har gått med på att stänga reaktorer för att kunna bli medlemmar i EU. Men EU-kommissonen kräver att de fullt ut ansluter sig till EU:s kärnsäkerhetslagstiftning innan mer pengar anslås, samt att man visar en plan för resten av rivningskostnaderna."
the murky world of online financial transactions where money bounces between accounts from Cyprus to New York in the blink of an eye. "While Liberty Reserve was incorporated outside the United States, federal officials used a provision in the Patriot Act to target the organization and other financial institutions with whom they conducted business. It was the first time the provision had been used to prosecute a virtual currency provider, officials said." "Organized crime and terrorist groups are now financing their operations through these anonymous payment systems,” said Tom Kellermann, a vice president at Trend Micro, a security firm. “The financial sector no longer has a monopoly on moving capital around the world.”
Mike Whitney, Counterpunch 11-13 Oct: "Absent a debt ceiling deal, the repurchase market–known as repo–would undergo another deep-freeze as it did in 2008 when Lehman Brothers defaulted..." "...The same tragedy will play out again, if congress fails lift the ceiling and reinforce the present value of US debt." "Repo is at the heart of the shadow banking system, that opaque off-balance sheet underworld where maturity transformation and other risky banking activities take place beyond the watchful eye of government regulators." "Keep in mind, the US government does not have to default on its debt to trigger a panic in the credit markets. Changing expectations can easily produce the same result... when people start to doubt that US Treasuries will be liquid cash equivalents in the future" "This is what the Fidelity flap is all about. It’s about the erosion of confidence in US debt."
Myriam van der Stichele: "A short edition of the EU financial reform Newsletter provides the background of the latest financial and political crises in different EU countries, with focus on the Cyprus crisis. This newsletter was finalized just before the Cypriot parliament rejected the deal and since the quick events have been changing every day, about we will provide an update later."
Global Financial Integrity - Raymond Baker "As European and Russian officials currently weigh the merits of bailing out the Cypriot economy, GFI's study raises serious concerns about the legitimacy of Cyprus' financial sector. The report notes that Cyprus, a tiny island nation with a GDP of just $23 billion, is the largest source and destination of Russian foreign direct investment (FDI) from 2009-2011. According to the IMF, Cyprus sent $128.8 billion in FDI into Russia in 2011, more than 5 times the size of Cyprus' GDP. "The recorded FDI positions merely reflect the round-tripping of prior illicit deposits from Russia into Cyprus," write Dr. Kar and Ms. Freitas in the report."
Reuters, Japan approved on Monday incentives for renewable energy that could unleash billions of dollars in clean-energy investment and help the world's third-biggest economy shift away from a reliance on nuclear power after the Fukushima disaster.
Hans M Kristensen: "In addition to modernizing the warheads and the production complex, the Obama administration has also pledged to spend “well over 100 billion dollars” on modernizing some of the missiles, submarines and bombers designed to deliver the warheads."
Osasyy juuri pankkiosakkeiden suosioon ja hirmuiseen kurssinousuun lienee yksinkertaisesti se, että juuri pankkien hallussa on suuri määrä kriisivaltioiden velkakirjoja. Pankit ovat toisin sanoen hyötyneet kyseisten velkakirjojen arvonnoususta. Samoin ne ovat hyötyneet kriisin hellittämisestä eli Draghin lupauksen suotuisista tunnelmavaikutuksista.
by Patrick Bond and Khadija Sharife Originally published at naiforum.org on February 14, 2012 IMF and Tunisia "In 2010, the IMF celebrated Ben Ali’s commitment ”to reduce tax rates on businesses and to offset those reductions by increasing the standard Value Added Tax (VAT) rate,” which hurts poor people most. The IMF advised the tyrant to ”contain subsidies of food and fuel products”.While squeezing the poor, the IMF diplomatically turned a blind eye to widespread corruption by Ben Ali and his wife’s notorious Trabelsi family, the two families’ extreme level of business concentration, the regime’s reliance upon murderous security forces to defend Tunisian crony capitalism, and the hedonistic lifestyle for which Ben Ali’s clan had become famous."
21 September 2010, Japan, Belgium and France brought together the most eminent figures committed to innovative financing for development during the United Nations MDG Summit. Comprising 60 countries as well as the main international organisations and NGOs