Monday, July 18, 2011
The Fed, the debt, Ron Paul and gold
President Obama and Vice President Biden have just had yet another meeting with top lawmakers hoping to reach an agreement about the debt ceiling. One of those absent from the meeting, but who doesn't agree with Obama's suggestion, was Ron Paul, a congressman from Texas. Yesterday he exchanged some heated remarks with Ben Bernanke over the way Congress and the Fed have dealt with some of these problems during the last three years. Rep. Paul also asked Bernanke about what he sees as an important fix to some of these economic woes - gold. To talk more about the issue RT has Scott Carter, CEO of Goldline.
The Elites are sitting pretty
While the US is just weeks away from defaulting on its debt, a rich and elite group that includes presidents and business leaders are heading to a party at a secret retreat in California. So why are they sitting so pretty? Charlie McGrath, founder of www.wideawakenews.com, believes it could be because they were some of the only winners of policies meant to spur a global economic recovery.
Working for the Man, Indian style
If you want to achieve your dreams, you've got to be ready to work for them. That's what Indian people are doing in their droves - and it seems staying at work longer than their western counterparts is paying off. RT's Irina Galushko elbowed her way in to reveal the reality of life in the New Delhi rat race.
550 years of Gold trading in Istanbul
Can anyone see an unbacked US$ still trading in the Forex markets in 500 years time?
In these austere economic times, many have sought refuge for their savings in gold.
Gold rose to record highs last week but it's not just on the financial markets where people are looking to protect their wealth.
In Istanbul's Grand Bazaar, traders have been buying and selling gold since 1461, the early days of the Ottoman Empire. Its shops attract between 250,000 and half a million visitors annually.
Gold rose to record highs last week but it's not just on the financial markets where people are looking to protect their wealth.
In Istanbul's Grand Bazaar, traders have been buying and selling gold since 1461, the early days of the Ottoman Empire. Its shops attract between 250,000 and half a million visitors annually.
Haven't the Greeks suffered enough?
As Eurozone ministers prepare tackle the bloc's wider financial troubles this week, US Secretary of State Hillary Clinton was in Athens on Sunday to offer America's support to overcome Greece's debt crisis.
Sunday, July 17, 2011
Prof. Steve Keen on Credit Rating Agencies
by ProfSteveKeen on Jul 16, 2011
The Credit Rating agencies have helped cause this crisis by (a) being for profit organizations whose ratings are paid for by the sellers of financial instruments and (b) giving advice that might be useful in episodic events but which makes systemic crises worse.
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