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Showdown In Athens

March 1, 2015

Varoufakis vs. The Troika… “Will the United States, Germany, the rest of the European Union, the European Central Bank, and the International Monetary Fund – collectively constituting the International Mafia – allow the new Greek leaders of the Syriza party to dictate the conditions of Greece’s rescue and salvation? The answer at the moment is a decided “No”. — William Blum, The Greek Tragedy, Veracity Voice “The Greek economy is finished…. There is no power, no force within the Greek economy,... Read article

Varoufakis Keeps Greece In The Eurozone, By Its Fingernails

February 24, 2015

“Though it’s happening to a stricken country, on the edge of Europe, the choices presented to Greece are being understood throughout Europe… Obey or leave.” — Paul Mason, Channel 4 News Blog It’s not easy to negotiate with a gun to your head.  Nevertheless, that’s the situation Greek finance minister Yanis Varoufakis found himself in on Friday preceding a crucial meeting with the Eurogroup. According to one report, the objective of the last-ditch confab  “was to prepare a consensus text that would... Read article

The Battle Behind the Fog of Propaganda

February 22, 2015

The “Exceptional” U.S. Suffers Crushing Defeat in Debaltsevo… “There’s no city left. It’s destroyed.” — Anonymous Ukrainian soldier following the battle of Debaltsevo In less than a year, the United States has toppled the democratically-elected government of Ukraine, installed a Washington-backed stooge in Kiev, launched a bloody and costly war of annihilation on Russian-speaking people in the East, thrust the economy into a downward death spiral, and reduced the nation to an anarchic, failed state... Read article

Don’t Tell Anyone In Berlin

February 21, 2015

Ironman Varoufakis’s Revolutionary Plan for Europe… “The ongoing dispute between the German and Greek governments is nothing less than a democratic revolution against German hegemony and the attempt of the Germans and their paladins in the EU to dictate Greek domestic policy.” –Mathew D. Rose, It’s a revolution, Stupid! Naked Capitalism “Germany is eating itself over Greece. It is eroding its moral authority, and seems prepared to destroy the eurozone’s integrity just to make a point.” –Paul Mason,... Read article

The Fallujah Option For East Ukraine

February 7, 2015

“I want to appeal to the Ukrainian people, to the mothers, the fathers, the sisters and the grandparents. Stop sending your sons and brothers to this pointless, merciless slaughter. The interests of the Ukrainian government are not your interests. I beg of you: Come to your senses. You do not have to water Donbass fields with Ukrainian blood. It’s not worth it.” — Alexander Zakharchenko,  Prime Minister of the Donetsk People’s Republic Washington needs a war in Ukraine to achieve its strategic objectives. This... Read article

Are Plunging Petrodollar Revenues Behind The Fed’s Projected Rate Hikes?

January 21, 2015

If This Doesn’t Make You Mad… Why is the Fed threatening to raise interest rates when the economy is still in the doldrums? Is it because they want to avoid further asset-price inflation, prevent the economy from overheating, or is it something else altogether? Take a look at the chart below and you’ll see why the Fed might want to raise rates prematurely. It all has to do with the sharp decline in petrodollars that are no longer recycling into US financial assets. This is from Reuters: Petrodollar Exports Source:... Read article

Oil Price Blowback

January 10, 2015

Is Putin Creating A New World Order? “If undercharging for energy products occurs deliberately, it also effects those who introduce these limitations. Problems will arise and grow, worsening the situation not only for Russia but also for our partners.” – Russian President Vladimir Putin It’s hard to know which country is going to suffer the most from falling oil prices. Up to now, of course, Russia, Iran and Venezuela have taken the biggest hit, but that will probably change as time goes on. What the Obama... Read article

Irreversible Decline?

January 1, 2015

Did the U.S. and the Saudis Conspire to Push Down Oil Prices? “Saudi oil policy… has been subject to a great deal of wild and inaccurate conjecture in recent weeks. We do not seek to politicize oil… For us it’s a question of supply and demand, it’s purely business.” – Ali al Naimi, Saudi Oil Minister “There is no conspiracy, there is no targeting of anyone. This is a market and it goes up and down.” – Suhail Bin Mohammed al-Mazroui, United Arab Emirates’ petroleum minister “We all see the lowering... Read article

Ruble Takedown Exposes Cracks In Putin’s Defense

December 20, 2014

Putin’s Next Move Is Crucial… The plunge of the Russian currency this week is the drastic outcome of policies implemented by the major imperialist powers to force Russia to submit to American and European imperialism’s neo-colonial restructuring of Eurasia. Punishing the Putin regime’s interference with their plans for regime change in countries such as Ukraine and Syria, the NATO powers are financially strangling Russia.” Alex Lantier, Imperialism and the ruble crisis, WSWS “The struggle for world domination... Read article

The Oil Coup

December 20, 2014

US-Saudi Subterfuge Send Stocks and Credit Reeling… U.S. powerbrokers have put the country at risk of another financial crisis to intensify their economic war on Moscow and to move ahead with their plan to “pivot to Asia”. Here’s what’s happening: Washington has persuaded the Saudis to flood the market with oil to push down prices, decimate Russia’s economy, and reduce Moscow’s resistance to further NATO encirclement and the spreading of US military bases across Central Asia. The US-Saudi scheme has slashed... Read article

Will Falling Oil Prices Crash The Markets?

December 14, 2014

Shale Leads The Way… Crude oil prices dipped lower on Wednesday pushing down yields on US Treasuries and sending stocks down sharply. The 30-year UST slipped to a Depression era 2.83 percent while all three major US indices plunged into the red. The Dow Jones Industrial Average (DJIA) led the retreat losing a hefty 268 points before the session ended. The proximate cause of Wednesday’s bloodbath was news that OPEC had reduced its estimate of how much oil it would need to produce in 2015 to meet weakening global... Read article

Talking Turkey

December 6, 2014

Putin Gobsmacks Obama and Euro-Leaders with Surprise Gas Deal… On Monday, Russian President Vladimir Putin clinched a groundbreaking deal with Turkish President Recep Tayyip Erdoğan that will strengthen economic ties between the two nations and make Turkey the major hub for Russian gas in the region. Under the terms of the agreement, Russia will pump additional natural gas to locations in central Turkey and to a “hub at the Turkish-Greek border” which will eventually provide Putin with backdoor access... Read article

Defending Dollar Imperialism

December 6, 2014

Ukraine War Driven by Gas-Dollar Link… “The Fed’s ‘need’ to take on an even more active role as foreigners further slow the purchases of our paper is to put the pedal to the metal on the currency debasement race now being run in the developed world — a race which is speeding us all toward the end of the present currency regime.” Stephanie Pomboy, MacroMavens “No matter what our Western counterparts tell us, we can see what’s going on. NATO is blatantly building up its forces in Eastern Europe, including... Read article

Trotsky At The IMF

November 27, 2014

Does the Name “Strauss-Kahn” Ring a Bell? The International Monetary Fund has finally admitted that it was wrong to recommend austerity as early as it did in 2010-2011. The IMF now agrees that it should have waited until the US and EU economies were on a sustainable growth-path before advising them to trim their budget deficits and reduce public spending.  According to a report issued by the IMF’s research division, the Independent Evaluation Office (IEO):  “IMF advocacy of fiscal consolidation proved... Read article

Anti-Putin Propaganda Not Working

November 27, 2014

Anyone who follows the news regularly, knows that the media has done everything in its power to smear Vladimir Putin and to demonize him as a tyrant and a thug. Fortunately, most people aren’t buying it. Yes, I’ve seen the polls that say that Putin and Russia are viewed “less favorably” than they were prior to the crisis in Ukraine. In fact, here’s a clip from a recent PEW survey which seems to prove that I’m wrong: “Across the 44 countries surveyed, a median percentage of 43% have unfavorable opinions of... Read article

Subprime Loans And Auto Sales: Debt On Wheels

November 8, 2014

“It’s not the underlying economics that’s driving things, it’s central bank liquidity.” — Matt King, Citigroup Soaring auto sales are not so much a sign of a strong economy as they are an indication of financial hanky-panky. We saw this same type of fakery play out in housing between 2004 – 2006, when prices went through the roof due to a mortgage-lending scam (“subprime”) that crashed the stock market and sent the economy reeling. Now the bigtime money guys are at it again, writing up auto loans... Read article

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