fiat currencies
Coming Revaluation Of Gold Submitted by Hugo Salinas Price via Plata.com.mx, The current melt-down of the world’s debt bubble is likely to continue in the course of the next months. The secular trend to expansion of credit has morphed into contraction and liquidation. It is my opinion that the new trend is now established and…
Revealed: Rising Inequality Kills American Jobs Barry Z. Cynamon and Steven M. Fazzari, researchers on consumer behavior and how it effects the economy, wrote an op-ed for the St. Louis Post Dispatch in October 2007 in which they predicted that an end to the relentless trend of rising household debt and a subsequent crash in…
BEIJING – I had dinner with a few senior European financiers and professors in Beijing last week. When we talked about the euro crisis looming over Europe, we couldn’t but agree unanimously: across today’s small globe, all the major countries on the planet simply lack a strong leader. This is the very…
Greece’s government must cut spending and improve tax revenue in order to greatly reduce or eliminate its need to borrow, reduce the cost of its output (via domestic deflation or leaving the Euro and depreciating a new currency) in order to restore the external balance between its imports and exports, and to reduce the impediments to economic efficiency and productivity growth so that its economy can grow more rapidly. How did it get in such a mess? What role was and is played by its use of the Euro? And what are its options?
News Americas France pledges $450m to Haiti Sarkozy is the first French president to visit the former French slave colony [Reuters] Nicolas Sarkozy, the French president, has pledged an aid and debt relief package amounting to about $450m to earthquake-ravaged Haiti. The amount includes a cancellation of Haiti’s debt to France of $77m, Sarkozy said during a…
Former Treasury Secretary Hank Paulson’s book, “On the Brink: Inside the Race to Stop the Collapse of the Global Financial System”, attempts to explain why he should be praised and not buried.The question is whether his book should be classified as fact or fiction. I won’t be reading it, but found the leaked excerpts that…