“My father made him an offer he couldn’t refuse. Luca Brasi held a gun to his head and my father assured him that either his brains, or his signature, would be on the contract.” … Continue reading
By Charles Hugh Smith You’ve probably read that there is a “war on cash” being waged on various fronts around the world. What exactly does a “war on cash” mean? It means governments are limiting the use of cash and a variety of official-mouthpiece economists are calling for the outright abolition of cash. Authorities are … Continue reading
By Michael Snyder Right now, the financial world is focused on the breathtaking stock market crash in China, but don’t forget to keep an eye on what is happening in Europe. Collectively, the European Union has a larger population than the United States, a larger economy than either the U.S. or China, and the banking … Continue reading
By Stephen Lendman When investing becomes gambling, bad endings follow. The next credit crunch could make 2008-09 look mild by comparison. Bank of International Settlements (BIS) data show around $700 trillion in global derivatives. Along with credit default swaps and other exotic instruments, the total notional derivatives value is about $1.5 quadrillion – about 20% … Continue reading
The OPEC nation of Venezuela has long been home to the world’s highest inflation rate, and now the nation is set to become the site of the 57th hyperinflation event in modern recorded history, says Steve Hanke, professor of applied economics at Johns Hopkins University, Bloomberg reports. As Venezuela’s currency has plunged 32 percent over the past month … Continue reading
By Michael Snyder There has been so much attention on Greece in recent weeks, but the truth is that Greece represents only a very tiny fraction of an unprecedented global debt bomb which threatens to explode at any moment. As you are about to see, there are 24 nations that are currently facing a full-blown … Continue reading
Now that Eurozone leaders have agreed to provide Greece with a new bailout, the economic crisis has seemingly been averted. But as former U.S. presidential candidate Ron Paul points out, this resolution is only a temporary fix, another “crisis is inevitable,” and it could mirror the United States’ own demise. By Ron Paul (originally published July … Continue reading
By Michael Snyder The “deal that was designed to fail” has already begun to unravel. The IMF, which was expected to provide a big chunk of the financing, has indicated that it may walk away from the deal unless Greece is granted extensive debt relief. This is something that the Germans and their allies have … Continue reading
By Sputnik News With Greece tottering on the brink of leaving the Eurozone, experts of all stripes have been debating Grexit’s security implications, including Athens’ relationship with NATO. While naysayers argue that the geopolitics behind Grexit “are actually pretty boring,” others warn that the implications for the bloc could be far more serious. Over the … Continue reading
By Ellen Brown Banks create money when they make loans. Greece could restore the liquidity desperately needed by its banks and its economy by nationalizing the banks and issuing digital loans backed by government guarantees to its ailing businesses. Greece could provide an inspiring model of sustainable prosperity for the world. But it is being … Continue reading