Moody’s declared Greece in default on its debt Friday after Athens carved out a deal with private creditors for a bond exchange that will write off 107 billion euros ($140 billion) of its debt. . Read the rest here
Economics
The Kiwibank & Japanese Model : Postal Banks to Serve Local Communities Banking in post offices is not new. Many countries, including Germany, France, Italy, Japan, and New Zealand, have a long and successful history of it and so does the United States. If the USPS added banking, it could […]
The American Legislative Exchange Council (or ALEC), which helps corporations write model legislation, has paved the way for states and corporations to replace unionized workers with prison labor. [ British Petroleum hired prison labor to clean up their spill – while Gulf residents struggled economically ] In fact, prison labor […]
Could gaining control of the Central Bank of the Islamic Republic of Iran (CBI) be one of the main reasons that Iran is being targeted by Western and Israeli powers? As tensions are building up for an unthinkable war with Iran, it is worth exploring Iran’s banking system compared to […]
Before Greece and Portugal, it was Iceland that chilled investors. Now the country’s finances are recovering and its bonds are turning into a lucrative investment. Fitch has upgraded Iceland’s sovereign credit rating from BB+ to BBB- with a stable outlook. The rating agency lifted “the junk bond status” saying the […]
Rumours that Greece was ready to ditch the Euro saw the currency drop by one per cent against the dollar. [youtube]z9Kn4vTZRqs[/youtube] A German magazine said Greece was planning a pullout of the Eurozone and restore the drachma, as it struggles under the weight of its rescue debt. Leading Greek politicians […]
Today, without much fanfare, US debt to GDP hit 101% with the latest issuance of $32 billion in 2 Year Bonds. If the moment when this ratio went from double to triple digits is still fresh in readers minds, is because it is: total debt hit and surpassed the most […]
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We need to face the facts – propaganda and public brain-washing, corruption, deception and the democracy farce are intentional and all-encompassing; these are not the results of a few minor aberrations or unavoidable accidents in otherwise decent society……. The scientific fact of the matter is that human nature is […]
This applies to all Rothschild owned and/or controlled central banks. – Ed. What would happen if the Federal Reserve was shut down permanently? That is a question that CNBC asked recently, but unfortunately most Americans don’t really think about the Fed much. Most Americans are content with believing that the Federal […]