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15.09.2009, 09:36 6 comments

BRIC to call the shots in post-crisis world

The past year of economic decline has seen Washington’s influence on the wane, as well as London’s, and the way is now open for other countries to decide policy. Among them: Russia and her BRIC colleagues.

AFP Photo / Louisa Gouliamaki 16.04.2010, 23:19 2 comments

Greek crisis to crash Eurozone utopia?

The eurozone’s secret is that its pockets are a little dusty. It could print or borrow the cash to bail out Greece and but it knows that would not be the end of it.

11.07.2009, 03:51 7 comments

Switch away from dollar could bankrupt US economy – Celente

Most international trade is done in dollars, but if it is abandoned for another currency, China and other suppliers may no longer want to buy worthless U.S. debt, argues Trend Research Institute founder Gerald Celente.

05.10.2009, 16:52

US economy: “living on borrowed time”

US economist and author Max Wolf says the American economy is a ticking time bomb, and there is no telling when it will go off. RT caught up with him in New York to talk about the subject in more detail.

30.11.2009, 09:53 2 comments

Rival to the dollar springs up near US capital

As Americans become frustrated with the US economy, more and more people are getting creative with their money, like Larry Chang and Nick Williams, who make their own currency.

13.07.2010, 08:13 27 comments

Euro for Estonia: ready or not, here it comes

Estonia is less than six months away from joining the Euro, but instead of seeing gold, many in the country are expressing concerns.

27.07.2009, 10:12 5 comments

Russia’s rich move money out

In 2008 Russia’s rich almost doubled their transfers abroad compared to the previous year with overall investment into foreign economies totaling $25.6 billion.

07.10.2009, 00:56 5 comments

Oil producers to oust dollar?

A report in the UK’s Independent newspaper says Brazil, China, Russia, Japan and the Gulf states plan to stop using the dollar in oil trading. The newspaper claims the countries have been in secret talks on the matter.

30.03.2009, 08:46

‘Current reserve currencies system is inadequate and risky’ – presidential aide

What's on the G20 summit agenda, and what is the most efficient way of handling the economic slowdown? RT speaks to presidential aide Arkady Dvorkovich about the challenges the financial crisis poses to the international

The Ithaca hours 10.04.2009, 06:56

Local US currency strengthens community

Many people call local money issued in a dozen US cities, from East Coast to West Coast, worthless pieces of paper. However, it is not just Monopoly money for the people of Ithaca, New York.

A false dawn for the dollar

Published: 04 July, 2009, 10:03
Edited: 07 October, 2009, 07:00


The US administration has been saying it sees the first green shoots of economic recovery. However consumer spending remains low in America, and some experts argue the signs are misleading.

 
7 COMMENTS
ScuzzaMan July 06, 2009, 09:28 quote
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Imagine a man who weighs 100kg's walking with a 40kg pack on his back. This approximates the average western economy in which 40% of GDP is taken by the government. Now imagine this man begins climbing a long hill. What is the proper way to relive the burden he already carries, and thus enable him to surmount the obstacle before him? Is it to increase the burden he bears or to decrease it? Since the answer is obvious to anyone over the age of 5, governments prefer to inflate the money supply rather than to tax directly. They further like to pretend that monetary inflation is not a tax. But since it removes value owned by prior currency holders and transfers that value to the government, it really IS a tax. Given the unprecedented levels of government deficit spending of late, and the associated mind-boggling eye-watering levels of currency creation, the man climbing the long hill of monetary implosion is now carrying 80 to 100kg's on his back. How far can he carry this burden? Depends on the man, but most of us know this answer, too: "Not far"

Al Sledge July 06, 2009, 10:53 quote
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Since our US government switched from the free market to centralized control our economy has needlessly spiraled lower and lower. We are part the point of recovery unless the free market can again gain an upperhand, which is doubtful. No nation has ever PRINTED its was to prosperity, in fact the idea has always failed without a single exception. Rather than stimulus, we need a limited money supply such as gold AND we need to do away wuth the fraud of fractional reserve banking. Of course this would mean government control would disappear except for criminal activity control. Politicly however those in power would never want their power decreased. That seems to be the greatest flaw in the human character, and this defect is world wide in scope.

Bill Ross July 06, 2009, 12:00 quote
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The only way out of this is to re balance the economy away from unproductive consumption (waste) and towards productivity. Those who forcefully maintain a monopoly on this choice see their survival as requiring increased resources for their unproductive consumption. They will not let go or face the truth that they, a parasite has outgrown the host whom is now terminally ill. "Mathematics of Rule" easily proves where this is and MUST lead Bill Ross (Electronics Design Engineer)

Eric July 06, 2009, 18:06 quote
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Few learn from history. I remember when Vlad Posner was the only Russian I would hear of - on talk radio late at night (well, he was an American ex-pat, but he worked for pravda after he went to Russia). He was asked what freedom meant in the Soviet Union - he said it was the right to do what your government wanted. Well, it seems that every country has to learn things the hard way. Here we see that Russians have apparently learned what US citizens are now about to learn. But I still think it's ironic that there's more truth coming from Russia on economics than in the land of the free (to do what your government wants :).

Gabe Harris July 07, 2009, 00:02 quote
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The media in America is so corrupted that 60% of Americans have never heard of the issues talked about in this Russia Today article. Those are the 60% that still rely on MSM. Of the 40% who have heard of these issues, about 90% of them are fooled by what is printed in the higher level propaganda press. The Russians can help those of us who know what is going on. They can pressure their government to never buy US debt again. If the dollar falls more in the coming years then precious metals will benefit.

Just Ginger July 08, 2009, 01:53 quote
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I feel our only hope it to attempt to stock up what we can until this passes. How many years will it take? Will it ever recover?

victor October 06, 2009, 22:12 quote
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USA has unlimited reserves of currency. Every second we breath, debtor nations in undeveloped countries pay off debt constantly. This everlasting debt undeveloped countries have with the USA was artificially created by the various dictators that USA has supported in the past. USA steals from the poor to give to itself. For every second that is past, more raw materials and money arrive to the worlds richest nation. Unpayable foreign loans given by the IMF, world bank and USA towards poor nations are only to exploit them. USAsians should know this, but most of them are proud ignorants. USA is a nation that will never go bankrupt.

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