Business
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Lawrence Summers calls China-led bank a failure of U.S. policy Lawrence Summers calls China-led bank a failure of U.S. policy Since China launched the Asian Infrastructure Investment Bank (AIIB) in October 2014, more than 50 countries have signed up as founding members of what was conceived as an alternative to Western-dominated sources of credit such as the World Bank, the International Monetary Fund, and the Asian Development Bank.
Here’s the good news: banks will be obsolete in 10 years Here’s the good news: banks will be obsolete in 10 years Every few centuries or so, an amazing new technology comes along that fundamentally changes human civilization.
Poisonous Petrostates: Iran could become a second Saudi Arabia if sanctions are lifted Poisonous Petrostates: Iran could become a second Saudi Arabia if sanctions are lifted You could argue that Iran is already Saudi Arabia's mirror image-Tehran's Shia theocracy reflecting Riyadh's Sunni-fundamentalist visage.
Greece drawing up contingency plans to nationalize banks, bring in parallel currency Greece drawing up contingency plans to nationalize banks, bring in parallel currency According to a report in the Telegraph, sources close to the Syriza-led government said: "We will shut down the banks and nationalize them, and then issue IOUs if we have to, and we all know what this means. What we will not do is become a protectorate of the EU."
BRICs rating agency being discussed at expert level, Russian envoy says BRICs rating agency being discussed at expert level, Russian envoy says "After the well-known events when the big three rating agencies issued politicized and intentionally biased ratings on the state and prospects of the Russian economy, this issue becomes especially important," the Russian envoy said.
China Targets Dollar, Washington Has Conniptions Now even Israel - joined at the hip to the US though the relationship has run into rough waters - has applied to become a founding member of the China-led Asian Infrastructure Investment Bank. Despite US gyrations to keep them from it, over 40 countries, including bosom buddies Australia, Britain, and Germany, have signed up to join. Japan is still wavering politely.
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Breaking News U.S. Politicians Are Asked About Saudi Atrocities... Here's What Happened Next New Mothers Tested for Drugs without their Consent by Some Alabama Hospitals STASI-veteran will assist German government in Facebook censorship Jellyfish-lamb Hybrid Ends Up as Meat at French Slaughterhouse Rebel Flag Controversy: Why Not Just Ban Democratic Party For Its Links to Racism?
Business The IMF Just Entered The Cold War – Forgives Ukraine’s Debt To Russia Signs Of Financial Turmoil In Europe, China And The United States 'It's time to hold physical cash,' says one of Britain's most senior fund managers Russia and China Just Put Another Nail in the Coffin of the Bretton Woods Petrodollar System Budget office: U.S. debt picture has 'worsened dramatically'