Archive for the 'Economy' Category
China Reiterates Call for New World Reserve Currency
June 26th, 2009Yeah, yeah. We understand. Get on with it already. Via: Bloomberg: China’s central bank renewed its call for a new global currency and said the International Monetary Fund should manage more of members’ foreign-exchange reserves, triggering a decline in the U.S. dollar. “To avoid the inherent deficiencies of using sovereign currencies for reserves, there’s a […]
Citigroup Ordered to Suspend Some Operations in Japan
June 26th, 2009Via: Bloomberg: Citigroup Inc. was ordered by Japan’s financial regulator to suspend marketing of banking services to individuals for a month, after failing to put in place adequate internal controls to prevent money laundering. The Financial Services Agency told Citibank Japan Ltd. to halt retail banking sales from July 15 to Aug. 14, except in […]
ECB Lends Record $622 Billion in Bid to Ease Crisis
June 25th, 2009Coincidence? Bonds Rise After Strong Auction of 7-Year Notes Via: Wall Street Journal: The European Central Bank pumped a record €442 billion ($622 billion) into euro-zone money markets Wednesday in its first-ever offer of one-year funds as it battles the Continent’s recession. Euro-zone banks borrowed the one-year funds, the largest amount the central bank has […]
Full Spectrum Dominance: Totalitarian Democracy in the New World Order
June 25th, 2009Full Spectrum Dominance: Totalitarian Democracy in the New World Order by F. William Engdahl: For the faction controlling the Pentagon, the military industry, and the oil industry, the Cold War never ended. They engineered an incredible plan to grab total control of the planet, of land, sea, air, space, outer space and cyberspace. Continuing ‘below […]
California Set to Issue IOUs as Fiscal Crisis Weighs
June 25th, 2009Via: Reuters: California’s controller said on Wednesday that he would have to issue IOUs in a week if lawmakers can’t quickly solve a $24 billion budget deficit, and the state’s treasurer plans to tap a reserve fund to meet debt service costs. The measures came as a budget crisis deepened in the most populous U.S. […]
China Buys Addax for £4.4bn to Tap Iraqi Oil
June 24th, 2009WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Who provided the credit for the U.S. to go to war in Iraq? Mmm hmm. See the part in bold below for a hint on where oil prices are headed. Via: Telegraph: China has made its first big foray into Iraq […]
MTA Sells Subway Station Names
June 24th, 2009How about ads for pork rinds on the cop cars? The MTA officially has sold naming rights to one of its busiest subway stations in Brooklyn. That means McDonald’s 42nd Street and Taco Bell 59th Street-Columbus Circle could be right around the corner — or not. Sell the name of a station to an advertiser: […]
Pensioners ‘Kidnap and Torture’ Financial Adviser Who Lost Their Money
June 24th, 2009Via: Telegraph: A group of wealthy pensioners have been accused of kidnapping and torturing a financial adviser in Germany after he lost £2 million of their savings in the financial crisis. The men, dubbed the “Geritol Gang” by police after an arthritis drug, face up to 15 years in jail if found guilty of subjecting […]
Dick Cheney Working on Grimoire
June 24th, 2009Working title: “It Rubs the Lotion on Its Skin or Else It Gets the Hose Again.” Via: AP: Former Vice President Dick Cheney has signed a book deal with a conservative imprint of Simon & Schuster and said he hopes readers of all ideologies will be interested in his story. The memoir by Cheney, widely […]
U.S. Credit Rating a “Solid Triple-A”: Moody’s
June 23rd, 2009“As you all know, first prize is a Cadillac Eldorado. Anybody want to see second prize? Second prize is a set of steak knives. Third prize is you’re fired.” —Glengarry Glen Ross Via: Reuters: Moody’s Investors Service said on Tuesday that the U.S. government’s triple-A credit rating was safe but added that it could be […]
