• Steve H. Hanke
    02/11/2016 - 16:08
    The burgeoning literature contains a great deal of hype, which validates the 95% Rule: 95% of what is written about economics and finance is either wrong or irrelevant.

World Bank

Tyler Durden's picture

De-Dollarization Accelerates As More Of Washington's "Allies" Defect To China-Led Bank





"Ignoring direct pleas from the Obama administration, Europe’s biggest economies have declared their desire to become founding members of a new Chinese-led Asian investment bank that the United States views as a rival to the World Bank and other institutions set up at the height of American power after World War II," The Times notes, in yet another indication of declining US influence.

 
GoldCore's picture

Gold Surges – Fed Loses “Patience” and Signals Loose Monetary Policies to Continue





Many analysts regard this as further evidence that the Fed is caught in a bind. What is yet to be appreciated by most analysts is that it is unlikely that the massively over-leveraged and debt-saturated financial system can weather increases in interest rates.

 
Tyler Durden's picture

America's European "Allies" Desert Obama, Join China-led Infrastructure Bank





It appears the sea of de-dollarization has reached the shores of Europe. With Australia and UK having already moved in the direction of joining the China-led AIIB, The FT reports that France, Germany, and Italy have now all agreed to join the development bank as 'pivot to Asia' appears to be Plan B for Europe. As Greg Sheridan previously noted, "the saga of the China Bank is almost a textbook case of the failure of Obama’s foreign policy," but as The FT concludes, the European decisions represent a significant setback for the Obama administration, which has argued that western countries could have more influence over the workings of the new bank if they stayed together on the outside. As Forbes notes, this leaves Obama with 3 uncomfortable options...

 
Tyler Durden's picture

Frontrunning: March 17





  • Israelis vote as 'King Bibi's' reign hangs in the balance (Reuters), Factbox: Main candidates in Israel's election (Reuters)
  • Iran Can Add Million Barrels a Day of Oil If Sanctions Halt (BBG)
  • Kremlin rules out handing back Crimea to Ukraine (Reuters)
  • Saudi Arabia Needs More Oil to Feed Local Refinery Expansion (BBG)
  • How Lafarge’s CEO Went From Holcim Merger Architect to Obstacle (BBG)
  • When Yellen Gets Less Predictable She’s Getting Back to Normal (BBG)
  • Iran nuclear talks intensify as sides face tough issues (Reuters)
  • Debunking $1.4 Trillion Europe Debt Myth in Post-Heta Age (BBG)
 
Tyler Durden's picture

US Attacks "Closest Ally" UK For "Constant Accommodation" With China





The UK has announced it’s joining the Asian Infrastructure Investment Bank, China’s answer to the Asian Development Bank over which Beijing feels the US has undue influence. US wonders aloud if "constant accommodation" is the best way to engage a "rising power".

 
Tyler Durden's picture

Frontrunning: March 13





  • Again as first reported here: Record U.S. Oil Glut May Fill Storage, Cut Prices (BBG)
  • IEA sees renewed pressure on oil prices as glut worsens (Reuters)
  • No EU unanimity on renewing Russia economic sanctions (Reuters)
  • Tsipras says Greece doing its part in euro zone deal (Reuters)
  • ECB Set to Buy Fewer Bonds as Price Gains Ease Crunch (BBG)
  • These Americans Are Getting Rich Trading Derivatives Banned in the U.S. (BBG)
  • U.S. 2015 profits forecast to grow 1.7 percent; oil, dollar are concerns (Reuters) - in a month this will say "decline"
  • Manhunt for shooting suspects grinds on in Ferguson, Missouri (Reuters)
 
Tyler Durden's picture

The Oil Glut And Low Prices Reflect An Affordability Problem





The oil glut we are experiencing now reflects a worldwide affordability crisis. Because of a lack of affordability, demand is depressed. This lack of demand keeps prices low–below the cost of production for many producers. If the affordability issue cannot be fixed, it threatens to bring down the system by discouraging investment in oil production.

 
GoldCore's picture

Currency Wars Continue As IMF Concedes End To Dollar Hegemony





Last month the Deputy Managing Director of the IMF, Japan’s Naoyuki Shinohara, openly stated that emerging markets in Asia should begin the process of de-dollarisation “to mitigate against external shocks and constraining the central bank’s ability as lender of last resort.”

 
Tyler Durden's picture

"Monetary System, World Order We've Had Since 1940s Is Collapsing" Warns Richard Maybury





"...everybody knows there's something seriously wrong but they don’t know what is really happening."

This 'world order' may be coming to an end, he believes: "It's the collapse of that structure that was built in the 1940s that is behind all of these problems that are popping up in financial markets and economies around the world."

 
Tyler Durden's picture

Ukraine, Neocons And Neonazis





There’s simply a very strong feeling, if not conviction, in the western media, that they’ve won the propaganda battle. But two portraits of US girl power in Ukraine from the Guardian and Bloomberg that appeared over the past two days are just unbelievbable. Victoria Nuland and Natalie Jaresko should not be praised by the western media, they should be taken apart bone by bone, because the roles they play are far too shady to stand up to our alleged democratic principles.

 
George Washington's picture

Bill Clinton Laid the Foundation for the Libyan, Syrian and Ukrainian Wars





Bill Clinton Dusted Off the Same Marketing Strategy Which Bad-Mustache Used On the Eve of Invading Poland ... And Obama's Been Using It Ever Since

 
Tyler Durden's picture

When Centralization Scales Beyond Our Control





Who controls NATO, or the IMF? I’m sure you understand it’s not you. Still, when an organization exhibits aggressive behavior in your name, or lends out your money in your name, you should at all times feel that you are in control, through those you elect to represent you. Well, do you? Or are you merely thinking: that’s too far away from me? Organizations, like so many things in life, don’t scale up well, if at all. Beyond a certain critical mass, they become counterproductive, as Illich states. They become predators on their own creators. That goes as much for NATO, IMF and EU as it does for schools and hospitals.

 
Tyler Durden's picture

De-Dollarization: Russia Ratifies $100 Billion BRICS Bank





A BRICS Bank - as an IMF alternative and to enable nations to become less dependent on the global reserve currency - was originally discussed at The BRICS Summit in 2012. Then at the 2014 BRICS Summit, the framework for The BRICS Bank was approved as "a system of measures that would help prevent the harassment of countries that do not agree with some foreign policy decisions made by the United States and their allies." Headquartered in Shanghai and chaired by Russia, this week saw what appears to be the final step in the creation of BRICS New Deverlopment Bank as RT reports, The Russian State Duma has ratified the $100 billion BRICS bank that’ll serve as a pool of money for infrastructure projects in Russia, Brazil, India, China and South Africa. It is expected to start fully functioning by the end of 2015. Isolated?

 
Tyler Durden's picture

Behind The Global Game Of Thrones





We have put the sociopaths in charge, in an international and largely anonymous dictatorship. Who really pulls the levers in the IMF, or NATO etc? We have no way of knowing. And that’s the problem. And that is what Syriza, and precious few besides them, are set to fight. And why they deserve – and need – our support. Because if they don’t win, we don’t.

 
Syndicate content
Do NOT follow this link or you will be banned from the site!