China Syndrome 2: A Run on the US Treasury
• lewrockwell.com/Gary NorthThere is another China syndrome, also associated with a meltdown. This would be triggered by the central bank of China's doing nothing.
Contents Pages by Subject
Economy - International
Why I Am Leaving Goldman Sachs
• http://www.nytimes.com, By GREG SMITHTODAY is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London
Sweden moving towards cashless economy
• http://www.cbsnews.comSweden was the first European country to introduce bank notes in 1661. Now it's come farther than most on the path toward getting rid of them.
The 'Progressive' Swedes Lead the Way Toward a Cashless Society
• Lew Rockwell blogIt should come as no surprise that the "workers' paradise" of Sweden is the first country in the declining West (thanks to the establishment of mixed economies) to implement the Rothschild-Rockefeller dream of a cashless society.
Sweden moving towards cashless economy
• cbsnews.comSweden was the first European country to introduce bank notes in 1661. Now it's come farther than most on the path toward getting rid of them.
Solar industry faces subsidy cuts in Europe
• Washington PostShiny black solar panels are as common a sight as government subsidies have helped make Germany a world leader in solar technology. Now, sudden subsidy cuts here and elsewhere in Europe have thrown the industry into crisis just short of its ultimate
Forget the received wisdom: Chinese finance in Latin America is a win-win
• guardian.co.ukEyebrows hit the ceiling last month when it was found Chinese development banks lend more to Latin American governments than the World Bank and Inter-American Development Bank.
BRAZIL, NICARAGUA AND PANAMA BEST SUITED TO ATTRACT LOW-CARBON ENERGY INVESTMENT IN LATIN AMERICA
• utilityproducts.comForthcoming MIF-Bloomberg New Energy Finance report assesses the investment climate for climate change-related investment across Latin America and the Caribbean
Challenging the Ruling Global Corporate Conglomerates. Regaining the Real Economy
• http://www.globalresearch.ca, by Prof. John McMurtREGAINING THE REAL ECONOMY FROM THE CANCER SYSTEM: THE CHOICE SPACE FOR HUMANITY’S EVOLUTION OR DESTRUCTION
EU encouraging Greece ‘to head towards revolution’
• http://rt.comWith Greece finally implementing the biggest debt writedown in history and predictions the country’s debt is to decline more than previously expected, a solution to the crisis may seem in view, but some politicians disagree.
Euro zone economy prospects show flicker of hope: OECD
• http://www.reuters.comThe euro zone is showing tentative signs of improvement,
FITCH DOWNGRADES GREECE TO 'RESTRICTED DEFAULT'
• http://www.businessinsider.com, Simone FoxmanFitch just downgraded Greece from "C" to "restricted default."
Greece averts immediate default, markets skeptical
• Reuters By George Georgiopoulos and Lefteris PapGreece averted the immediate risk of an uncontrolled default on Friday, winning strong acceptance from its private creditors for a bond swap deal which will eat into its mountainous public debt and clear the way for a new international bailout.
Greece secures backing for debt swap deal
• http://www.aljazeera.comRestructuring plan aimed at reducing national debt by $140bn will see private investors take huge losses on their loans.
A dollar mutiny has broken out in the global currency wars
• http://www.sovereignman.com, by Simon BlackI’ve been having breakfast at Cafe Manolo’s ever since I started coming to Panama, going on ten years now. They make the best ‘batido’ ever… it’s sort of like a milk shake crossed with a fruit smoothie. And it used to be ridiculously cheap. Not anymo
Faber: 'Middle East Will Go Up in Flames'... 'Have To Be in Precious Metals and Equities
• http://lewrockwell.com,Gold’s London AM fix this morning was USD 1,685.60, EUR 1,282.24 and GBP 1,068.26 per ounce. Yesterday's AM fix was USD 1,698.00, EUR 1,286.17 and GBP 1,073.60 per ounce.
Forbes tally grows to 1,226 billionaires globally
• Associated Press ForbesAverage worth of a list member is $3.7 billion
Greek debt write-down: The era of risk-free government bonds nears its end
• Washington PostThe big banks have opted in. Some pension and hedge funds have opted out. Late Thursday in Athens, Greek officials will begin the final tally of a massive debt write-down to see if enough investors have agreed to participate to allow them to decla
Are we headed for a Bay of Pigs in Iran?
• CNN.comAmerican Silver Dime Cards vs Iranian Gold Cards
The Best Place to Do Business: Canada
• arcleinA model of confidence—these aren't words typically applied to Canada by the business and political elite who gather each year in this Alpine town. But since the financial crisis, and especially following the 2010 Vancouver Olympics, we've had a bit
EU Austerity Madness
Stephen LendmanAusterity is wrecking EU economies to pay bankers
Four Greek pension funds refuse to join debt swap-official
• ReutersMost Greek pension funds holding Greek sovereign debt have agreed to take part in a bond exchange to ease the country's debt burden but four have refused to do so, a Greek official said on Tuesday.
How the IMF reasserted its power in Greece’s debt crisis
• Washington PostGreece was stiffing government contractors as a way to make its books look better, one set of data revealed. Other figures showed that the government was financing its daily operations with debt, like a family paying for food with a home-equity loan.
Is China’s Role as Global Growth Engine Finally Over?
• www.cnbc.comInvestors are worried that China’s decade-long run as the world's growth engine may be over— along with unprecedented demand for commodities and ultra-cheap labor and parts for manufacturers.
Editorial from the weekend Wall Street Journal
Menckens Ghost...following that is an article also from the weekend Journal. If anyone still believes that the USA has a free-market economy, both pieces should disabuse them of the notion. The editorial describes how export subsides from the federal Export-Imp
Credit Suisse to buy back $4.4 billion of securities
• ReutersCredit Suisse (CSGN.VX) said on Monday it planned to buy back up to 4 billion Swiss francs ($4.4 billion) in outstanding securities in a bid to comply with the new Swiss and Basel III global capital adequacy rules.
Analysis: Out of intensive care, Europe risks chronic illness
• By Paul TaylorThe euro zone is out of the emergency ward, but it may face a chronic debilitating illness rather than a rapid convalescence.
China cuts growth target to 8-year low, to boost consumption
• By Zhou Xin and Kevin YaoChinese Premier Wen Jiabao cut his nation's 2012 growth target to an eight-year low of 7.5 percent and made boosting consumer demand the year's first priority.
For Europe, Costly Oil Could Be 'the New Greece'
• By SARAH KENTConcerns over the surging cost of Brent crude are growing as analysts warn that Europe could be at the center of an oil-price shock.
Easy to bend rules of EU debt treaty: Lithuania president
• AFPA new EU treaty aimed at preventing a repeat of the eurozone debt crisis leaves scope for states to bend the rules, Lithuania President and former EU budget commissioner Dalia Grybauskaite said. "I am sure there will be eagerness among some member
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