Economist Michael Hudson responds to the collapse of Silicon Valley Bank, and explains the similarities with the 2008 financial crash and the savings and loan crisis of the 1980s.
Michael Hudson: Why the US banking system is breaking up
Tag: financial institutions
Washington Seeks to Drum Up Support for Sanctions on China
The Joe Biden administration is pressuring allies to sanction China if Beijing decides to send arms to Russia, Reuters reported on Wednesday. Top American officials have claimed the Chinese government is considering providing weapons for Moscow’s war in Ukraine.
Washington Seeks to Drum Up Support for Sanctions on China
Related:
US House committee advances slew of sanctions bills related to China and Taiwan
Did the U.S. really lift sanctions off Syria temporarily?
The “humanitarian exemptions”, on Syrian sanctions, are conditional!
The U.S. Treasury announced a decision on February 9 claiming to allow an easing of sanctions imposed on Syria for the ensuing six months until August 8, as part of “earthquake relief efforts.”
Did the U.S. really lift sanctions off Syria temporarily?
The decision allows for “third parties” to transfer aid to Syria without fear of U.S. sanctions, but should only be intended for aid to earthquake-effected areas. Nonetheless, the sanctions programs applied to Syria for many years, the most severe of which are the Caesar Act (2019) and Captagon Act (2022), provide for “humanitarian exceptions,” but are conditional on U.S. approval.
Related:
Did the U.S. lift sanctions on Syria?
So any earthquake relief effort must take place away from the Syrian state. In other words, it must contribute to undermining the sovereignty of the Syrian state, or it will not take place.
Are We on the Cusp of Klaus Schwab’s Comprehensive Cyber Attack?
[2014] If Apple Were A Worker Cooperative, Each Employee Would Earn At Least $403K
Apple has 98,000 employees and earned $39.5 billion after tax over the past year. If Apple was a worker cooperative, then each employee would’ve received a $403,000 dividend on top of their salaries. Even the lowest paid worker would’ve earned at least $403,000 in Apple as worker cooperative.
If Apple Were A Worker Cooperative, Each Employee Would Earn At Least $403K
Cryptocurrency News: US Regulators Should ‘Maybe’ Ban Crypto + Digital Asset Anti-Money Laundering Act of 2022
Banking Committee Chair: US Regulators Should ‘Maybe’ Ban Crypto
The senator [Sherrod Brown] also pointed to numerous incidents to back up his claims, not just the recent collapse of FTX but also issues such as “the threat to national security from Korean cyber criminals to drug trafficking and human trafficking and financing of terrorism and all the things that can come out of crypto.”
…
Senator Elizabeth Warren unveiled a new bill governing cryptocurrencies earlier this month, dubbed the Digital Asset Anti-Money Laundering Act.
Warren’s bill would look to force crypto asset providers to offer audited financial statements and impose bank-like capital requirements more in line with what is expected of traditional financial institutions. The act would also give the SEC increased powers to regulate the asset class.
Get ready for the Digital Dollar!
Related:
Read More »The Expected Financial Crash Is Finally Here
When two experienced economy and finance analysts, who both correctly predicted the derivative crisis of 2008, again warn of an imminent crash one better listens up.
The Expected Financial Crash Is Finally Here
Previously:
US Treasury recommends exploring creation of a digital dollar
The Biden administration is moving one step closer to developing a central bank digital currency, known as the digital dollar. Administration officials say it’d help reinforce the U.S. role as a leader in the world financial system.
US Treasury recommends exploring creation of a digital dollar
H/T: PFYT2
Related:
A digital dollar would allow Americans to directly open up an account at the Fed
And while some have suggested that the Fed could potentially launch a digital dollar on a public network like Ethereum, Luther suspects that it would instead choose to launch on its own dedicated blockchain.
“A public blockchain would limit the government’s ability to control access and monitor transactions. I am not convinced it will give up control and oversight, even if doing so would be in the best interest of society.”
Fed’s Powell: a U.S. digital dollar could help maintain international primacy
The development of an official digital version of the U.S. dollar could help safeguard its global dominance as other countries issue their own, Fed Chair Jerome Powell said on Friday, weighing in with generally positive remarks on a hot-button topic at the central bank that has left policymakers divided.
…
Ten countries have already launched central bank digital currencies and another 105 countries are exploring the option, according to the Atlantic Council, leading to fears the dollar could lose some of its dominance to China.
Russia Confounds the West by Recapturing Its Oil Riches + Yellen discusses Russia oil price cap as Chancellor Nadhim Zahawi visits US
Moscow is raking in more revenue than ever with the help of new buyers, new traders and the world’s seemingly insatiable demand for crude
Russia Confounds the West by Recapturing Its Oil Riches
Related:
US Treasury Secretary Janet Yellen has warned that a failure to place a price cap on Russian oil would hurt the global economy.
Yellen discusses Russia oil price cap as Chancellor Nadhim Zahawi visits US
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Debt Traps & Terrorism: The Roots of Sri Lanka’s Crisis
by Brian Berletic
The island nation of Sri Lanka, located south-southeast of India in the Indian Ocean has suffered economic and now political chaos that has grabbed international headlines.
Debt Traps & Terrorism: The Roots of Sri Lanka’s Crisis
Previously:
Sri Lanka ‘Uprising’ Is Not What You Think. Sri Lankan Activist Explains The Politics
Ms. Cat’s Chronicles 
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