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Today it is conclusive that Africa's socialist experiments failed, as did the state-led development approach. Not only was the heavily statist approach unable to develop African economies, but it made poverty worse.
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With the possible exception of the political class and its cronies, most of us would be healthier, wealthier, happier, and freer if the public knew how to engage in "the economic way of thinking."
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A protest planned by hundreds of bank depositors in central China seeking access to their frozen funds has been thwarted because the authorities have turned their health code apps red, several depositors told Reuters.
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State treasurers spoke out against the imposition of environmental, social and governance (ESG) scoring on public money in a June 8 press conference, with one official comparing it to the social justice-driven push for universal homeownership that he
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... In Financial Markets, DB Warns
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Big news out of Europe this week.
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A plan conceived by the Austrian central bank in 2015 to move 50 tonnes of their monetary gold from London to Switzerland has not been realized seven years later. Here is an introduction to what could possibly have happened.
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There has been a long list of revelations coming out of the recent World Economic Forum meeting in Davos, but one issue that might have gone under the media radar involves...
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In late March, the chairman of Russia's Congressional energy committee, Pavel Zavalny, said in a press conference that Russia was open to accepting bitcoin for its natural resources exports.
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Seeing that hyperinflation on a global scale isn't too far off in the future, I wanted to take the time today to address an important issue: when did the mass of Venezuelan society realize that they were living through hyperinflation? This is how t
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Russia is a commodities powerhouse; China a manufacturing powerhouse. Both nations have tremendous stockpiles of gold, nuclear weapons and major trading relationships around the world.
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"Arguably no country on Earth has benefited more [from the global economy] than China," he said. "The lack of reciprocity in the US-China relationship, including market access, is unacceptable and unsustainable."
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Oil prices inched lower today as concerns over US recession fears (and China lockdowns) battled Washington rhetoric as the US energy secretary said the Biden admin has not ruled out export restrictions to lower fuel prices.
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The Russian currency strengthens ahead of upcoming tax payment
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Sri Lanka is just a preview...
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How Dare You
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Russian President Vladimir Putin said in April that the government should revise Russia's approach in WTO by June 1. Now it seems that they're moving ahead with it as Russia moves to withdraw from WTO and WHO.
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While it's unclear which companies or countries are consenting to the Putin-ordered ruble payment mechanism, it's clear the Russian leader's gambit is working
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Name That Tune? Scandinavian Black Metal
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"Under the new mechanism, clients have to open two accounts: one in foreign currency and one in rubles in Gazprombank."
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Here we go again?
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The vulnerability of global energy markets is once again back in focus due to Russia's invasion of Ukraine.
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Analysts and authors, myself included, have been warning about the collapse of the dollar as the global reserve currency for years. I described this prospect in my first book, Currency Wars (2011), and in several other books in the years since.
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U.S. banking giant Citigroup on Monday took responsibility for the flash crash which saw some European stocks turn sharply lower.
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The gap in goods and services trade grew 22.3% to $109.8 billion..
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THE WORLD HAS CHANGED
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HISTORIC RECESSION IMMINENT! - INFLATION SKYROCKETS AS WAR RAGES ON! - GREAT RESET POWER SHIFT!
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Meet the new boss, same as the old boss.
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U.S. Treasury Secretary Janet Yellen has said in an interview with Bloomberg TV that there is a possibility that the U.S. may reduce tariffs on Chinese imports as it strives to counter inflation.
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GREAT RESET: ISRAEL CUTTING OFF DOLLAR? - THIS IS HUGE! - CHINESE YUAN TO REPLACE THE DOLLAR?
