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Escape From The Dollar

Paul Craig Roberts thinks the Fed has backed itself into a corner. A rise in interest rates would strengthen the dollar, give the dollar new life as world reserve currency, and halt the movement into gold, but a rise in rates would collapse the bond and stock markets and reduce the value of derivatives on the banks’ balance sheets. I asked Dr. Roberts if the Fed would sacrifice the ...Read full article...

U.K. in First Double-Dip Recession since 1970s

The first double-dip recession since the 1970s forced Prime Minister David Cameron to defend his spending cuts in Parliament. By JENNIFER RYAN | BLOOMBERG | APRIL 2012 Gross domestic product fell 0.2 percent from the fourth quarter of 2011, when it declined 0.3 percent, the Office for National Statistics said today in London. The median of 40 estimates in a Bloomberg News survey was for an increase of 0.1 percent. A technical recession is defined ...Read full article...

More money for Banks as BoE keeps interest rates at 0.5%

AGENCE FRANCE PRESSE | APRIL 18, 2012 Bank of England policymakers all voted in favour of holding interest rates at a record low earlier in April, while one member called for more stimulus cash, the BoE said on Wednesday. Minutes from the central bank’s Monetary Policy Committee (MPC) meeting on April 4-5 showed that the nine policymakers voted to keep the key lending rate at 0.50 percent, where it ...Read full article...

Markets ‘Artificially’ Rally after FED and ECB Refill Bankers’ Pockets

By Scott Lanman Bloomberg November 30, 2011 The Federal Reserve cut the cost of emergency dollar funding for European banks as part of a globally coordinated central-bank response to the continent’s sovereign-debt crisis. The interest rate has been reduced to the dollar overnight index swap rate plus 50 basis points, or half a percentage point, from 100 basis points, and the program was extended to Feb. 1, 2013, the ...Read full article...

Why the euro bailout is the biggest Ponzi scheme in history

By Norman Lamont Mail Online October 12, 2011 The recent decision by the Bank of England to pump another £75billion into the economy shows that Britain, far from recovering, remains on the edge of another dip. But what happens to the British and world economy is, to a large extent, out of our hands. The greatest threat to our economic future is what is happening in the euro zone. ...Read full article...

The Federal Reserve Cartel: The Eight Families

by Dean Henderson June 1, 2011 Part 1 of a four-part series The Four Horsemen of Banking (Bank of America, JP Morgan Chase, Citigroup and Wells Fargo) own the Four Horsemen of Oil (Exxon Mobil, Royal Dutch/Shell, BP Amoco and Chevron Texaco); in tandem with Deutsche Bank, BNP, Barclays and other European old money behemoths.  But their monopoly over the global economy does not end at the edge of ...Read full article...

US faces same problems as Greece

UK Telegraph Mervyn King, Governor of the Bank of England, fears that America shares many of the same fiscal problems currently hauntingEurope. He also believes that European Union must become a federalised fiscal union (in other words with central power to tax and spend) if it is to survive. Just two of the nuggets from one of the most extraordinary press conferences I have been to at the Bank. ...Read full article...

UK demise: Deficit ‘to surpass Greece’s as worst in EU’

The use of non-original content in this site is protected by the Fair Use Clause created in 1976, which allows for the reproduction of copyrighted materials for the purposes of commentary, criticism and education. UK Guardian Whoever wins the election must make sorting out the public finances the top priority, the European commission warned on the eve of the poll, as it predicted the British budget deficit would swell this year ...Read full article...