Image of Trading Oil for Gold: China’s Gold-Backed Petro-Yuan Market, Threatens the US Dollar?
Trading Oil for Gold: China’s Gold-Backed Petro-Yuan Market, Threatens the US Dollar?
China recently announced they will trade oil for yuan “backed” by gold. The story has gotten some press (none of it mainstream mind you), and many have questions as to what it really means. While quite complicated as a whole, when you break this down into pieces I believe it is a quite simple and logical end to Bretton Woods.For a background, China has had an exchange open for about a year where g... [Read More]
Image of China buying oil from Iran with yuan - BBC News
China buying oil from Iran with yuan - BBC News
China is buying crude oil from Iran using its currency the yuan, an Iranian diplomat has said.Oil transactions are usually settled in dollars but US sanctions make it difficult for Iran to accept payments in the US currency.Iran is using the revenue to buy goods and services from China, Mohammed Reza Fayyad, Iran's ambassador to the United Arab Emirates, confirmed.China is the biggest buyer of Ira... [Read More]
Image of Non-Dollar Trading Is Killing the Petrodollar -- And the Foundation of U.S.-Saudi Policy in the Middle East | HuffPost
Non-Dollar Trading Is Killing the Petrodollar -- And the Foundation of U.S.-Saudi Policy in the Middle East | HuffPost
BEIRUT — A profound transformation of the global monetary system is underway. It is being driven by a perfect storm: the need for Russia and Iran to escape Western sanctions, the low interest rate policy of the U.S. Federal Reserve to keep the American economy afloat and the increasing demand for Middle East oil by China.The implications of this transformation are immense for U.S. policy in the Mi... [Read More]
Image of PressTV - UK activists slam new ‘anti-terror’ laws
PressTV - UK activists slam new ‘anti-terror’ laws
Activists in the UK have slammed new “anti-terror” laws that have been pushed by Home Secretary Theresa May and would limit critical activities deemed “extremist.” In a series of fresh measures promoted by the senior official, British universities will face significant pressure to limit activities that the government may classify as “extremist,” including banning “controversial” speakers and re... [Read More]
Image of PressTV - 9/11 activist hands himself in over Cameron remarks
PressTV - 9/11 activist hands himself in over Cameron remarks
A 9/11 British activist hands himself in to UK’s counter terrorism police following British Prime Ministers David Cameron’s speech at the UN General Assembly last week, Press TV reports. In response to Cameron’s remarks equating people, who question 9/11 and 7/7 attacks in the US and UK as well as the West’s policy towards the Middle East, with Takfiri preachers who radicalize extremists, Nick ... [Read More]
9/11: The Devil's in the details - YouTube
Details, details, details.....another viewpoint on 09/11/2001 The story that never goes away. [Read More]
Image of PressTV - Report says Blair was aware of CIA activities after 9/11
PressTV - Report says Blair was aware of CIA activities after 9/11
Former British prime minister was fully aware of secret kidnapping and interrogation programs by the CIA spy agency following the 9/11 attacks, says a security source. The security source, whose name was not mentioned in the report, told the Telegraph that Tony Blair and his foreign secretary, Jack Straw, were fully briefed on CIA activities and were kept informed “every step of the way” by MI6... [Read More]
Image of 'The Legitimacy of High Frequency Trading' | Economics and Politics
'The Legitimacy of High Frequency Trading' | Economics and Politics
Tim Johnson on high frequency trading: The Legitimacy of High Frequency Trading: Mark Thoma brought my attention to a post by Dean Baker, High Speed Trading and Slow-Witted Economic Policy. High Frequency Trading, or more generically Computer Based Trading, is proving problematic because it is a general term involving a variety of different techniques, some of which appear uncontroversial, othe... [Read More]
Image of 9-11 Research: Insider Trading
9-11 Research: Insider Trading
Financial transactions in the days before the attack suggest that certain individuals used foreknowledge of the attack to reap huge profits. 1 The evidence of insider trading includes.... [Read More]
Inside Job: SEC Employees 'Systematically Dodge the Revelation of Bad News' for Their Stocks
Securities and Exchange Commission (SEC) employees aren't necessarily better at investing in stocks than everyone else, but they are much better at getting out of bad investments before the "bad news" hits. That's according to a new paper by Shivaram Rajgopal and Roger M. White, called, "Stock Picking Skills of SEC Employees." [Read More]
Image of The middle class is steadily eroding. Just ask businesses
The middle class is steadily eroding. Just ask businesses
In Manhattan, the upscale clothing retailer Barneys will replace the bankrupt discounter Loehmann's, whose Chelsea store closes in a few weeks. Across the country, Olive Garden and Red Lobster restaurants are struggling, while fine-dining chains like Capital Grille are thriving. And at General Electric, the increase in demand for high-end dishwashers and refrigerators dwarfs sales growth of mass-m... [Read More]
Image of Retailers Less Than Cheerful Over Christmas Sales
Retailers Less Than Cheerful Over Christmas Sales
Big retailers don't expect this Christmas shopping season to be very lucrative after budget battles and the shutdown have lowered consumer confidence and the willingness to buy. [Read More]
Holiday Sales Numbers for 2013 Are Weaker Than They Appear
Things were stacked against retailers this holiday season, and it seems they may have pushed too hard to please. Consumer demand was anemic, and there were fewer days to shop because of the late November date for Thanksgiving. Foot traffic in stores dropped off in December. [Read More]
PressTV - Another US city mulls bankruptcy
Desert Hot Springs, a city located 110 miles east of Los Angles, California, warned Tuesday that it is running out of money by March 31 due to burdensome salary and pension costs. It is the third city in the state along with San Bernardino and Stockton to seek court protection from creditors, Reuters reported. [Read More]
PressTV - 3,000 jobs to go as UK retailers file for bankruptcy
More than 3,000 jobs have been threatened across the UK after both footwear retailer Barratts Shoes and Blockbuster, a film and computer game rental chain, went into administration amid tough trading conditions. Barratts’ collapse, which was the 3rd in four years, put its 1,035 staff and almost 100 shops at risk, with its administrator Duff & Phelps warning it could not rule out redundancie... [Read More]
Barclays faces investigation into currency trading manipulation
Barclays has become the latest bank to admit it is facing an investigation into whether its staff were involved in attempts to manipulate global foreign exchange markets. The bank confirmed it was reviewing trading activity by its employees for several years, up to as recently as this August, as part of an international inquiry into alleged rigging of currency markets. [Read More]