Wall Street's Council on Foreign Relations has issued a major report, alleging that China must be defeated because it threatens to become a bigger power in the world than the U.S. This report urges: "The United States should invest in defense capabilities and capacity specifically to defeat China’s emerging anti-access capabilities and permit successful U.S. power projection even against concerted opposition from Beijing. … Congress should remove sequestration caps and substantially increase the U.S. defense budget.” In other words: the Government should spiral upward the U.S. debt even more vertically (which is good for Wall Street), and, in order to enable the increased ‘defense’ expenditures, only ‘defense’ expenditures should be freed from spending-caps.
For the first time in more than ten years, the IMF believes the yuan is close to fairly valued. This comes as the fund considers the yuan for SDR inclusion later this year and as China attempts to promote the currency to a more prominent role in the global economy. Meanwhile, Bill Gates says that although he "loves the dollar" he'd "put his bet on yuan."
Whatever happens with the nuclear negotiations this summer, and as much as Tehran wants cooperation and not confrontation, Iran is bound to remain - alongside Russia - a key US geostrategic target. What the Pentagon - with customary hubris - does not see is Moscow and Tehran easily identifying the power play; the US government's hidden agenda of manipulating a "rehabilitated" Iran to sell plenty of oil and gas to the EU, thus undermining Gazprom.
Yes, the anger over the death of Freddie Gray is very real. Police brutality has been a major problem in Baltimore and much of the rest of the nation for many years. But could it be possible that the anger that the people of Baltimore are feeling is being channeled and manipulated for other purposes?
The reason this is a politically explosive revelation is because the Clinton Foundation promised to disclose its donors as a condition of Hillary Clinton becoming secretary of state. Shortly after Barack Obama was elected president in 2008, the Clinton Foundation signed a “memorandum of understanding” with the Obama White House agreeing to reveal its contributors every year.
Seven years ago, the U.S. Army War College issued a report calling on the military to be prepared should they need to put down civil unrest within the country. Summarizing the report, investigative journalist Chris Hedges declared, “The military must be prepared, the document warned, for a ‘violent, strategic dislocation inside the United States,’ which could be provoked by ‘unforeseen economic collapse,’ ‘purposeful domestic resistance,’ ‘pervasive public health emergencies’ or ‘loss of functioning political and legal order.’ The ‘widespread civil violence,’ the document said, ‘would force the defense establishment to reorient priorities in extremis to defend basic domestic order and human security.’” At what point will all of the government’s carefully drawn plans for dealing with civil unrest, “homegrown” terrorism and targeting pre-crime become a unified blueprint for locking down the nation?
“We are anointing an aristocracy that’s getting a stronger and stronger grip on democracy,”
A U.S. drone strike in January targeting a suspected al Qaeda compound in Pakistan inadvertently killed an American and Italian being held hostage by the group, senior Obama administration officials said. As WSJ reports, the killing of American development expert Warren Weinstein and Italian aid worker Giovanni Lo Porto is the first known instance in which the U.S. has accidentally killed a hostage in a drone strike. We await President Obama's 'collateral damage' explanation.
Recently, we noted that once America’s best and brightest come out of deferment and forbearance, one in three quickly fall 30 days or more behind on their payments. Now we learn that not only are delinquency rates on the rise, so too apparently, is the percentage of delinquent borrowers who have simply stopped making payments, late or not.
While some journalists here in the US have started to notice the strange series of opposition killings in Ukraine, the US government has yet to say a word.
Compare this to the US reaction when a single opposition figure was killed in Russia earlier this year.
In a fiat currency system, perception is, by definition, everything. Paper money has no intrinsic value. So the people saving it and accepting it in exchange aren’t expressing faith in the money itself but in the competence and honesty — and power — of the institutions managing it. Let that faith erode and those slips of colored paper and ephemeral computer bits revert to their intrinsic value. And on the credibility front, the trends aren’t encouraging.
Trying to make sense of the global capital markets.
We've long argued that the implications of the shift away from a global economic order that has prevailed since the end of WWII are far reaching and may include the demise of what has largely been a unilateral political and economic system characterized by the dominance of US foreign policy and Western notions of politics and capitalism. Now, it appears as though de-dollarization and the end of US hegemony may have gone viral because, as The NY Times reports, a US “retreat” from the world order it has largely shaped was the unspoken topic de jour at this year’s spring meeting of the IMF and World Bank in Washington.
“We absolutely think it is for military aircraft...the main question is, what else would land there? Unless they are planning to turn these into resorts..."
Moody's puts $3 billion in student debt-backed ABS on default watch leading us to wonder when 30% delinquency rates in a market where nearly $1.3 trillion in credit has been extended will finally result in the bursting of what is America's most spectacular debt bubble.