Gilles Champollion: Banks Are Stealing Our Future–How To End This

03 Economy, 09 Justice, 11 Society, Advanced Cyber/IO, Civil Society, Ethics

BANKS are stealing our future — How to put an end ?

The European Central Bank is not able to stop the crisis started in 2008, why? Is there a lack of macroeconomic models? Yes, of course, and it is under our noses since a century.

Penguin: US Dollars Shut Out of Russian Seaports

03 Economy, Commerce, Government

Putin orders end to trade in US dollars at Russian seaports

Russian President Vladimir Putin has instructed the government to approve legislation making the ruble the main currency of exchange at all Russian seaports by next year, according to the Kremlin website.

Berto Jongman: Known Debt Just Doubled — BIS Discovers $14 Trillion in Offshore Debt Hidden in Bank Statement Footnotes

03 Economy, Commerce, Corruption
Berto Jongman

BIS discovers $14 trillion of dollar debt offshore, hidden in ‘footnotes’ 

The world’s top financial watchdog has uncovered $14 trillion of global dollar debt hidden in derivatives and swap contracts, a startling sum that doubles the underlying levels of offshore dollar credit in the international system.

The scale of this lending greatly increases the risk of a future funding crisis if inflation ever forces the US Federal Reserve to tighten hard, draining worldwide liquidity and potentially triggering a dollar surge.