Category Archives: Banking industry

The Importance of Custody, or NATO’s Internal Gold War

Both the UK’s Government and the Bank of England have gotten suspiciously tetchy over German requests to get its gold back.

Putin Edict on “Gas for Roubles” Consistent With Original Description (and Our Take); Western Officials Nevertheless Claim a Walkback

Putin’s gas for roubles plan was over-interpreted by foreign policy experts and media employees, and that’s working out to Russia’s advantage.

Ukraine Updates and More Discussion of the Russia “Gas for Roubles” Countersanction

Gazprom is scheduled to announce what its roubls-for-gas payments stipulations are, even though most Western countries said no, sight unseen.

“Dollar Hegemony Ended Last Wednesday”: Michael Hudson Interviewed by Margaret Flowers on Clearing the Fog

Michael Hudson continues to discuss how Western sanctions are undermining the central role of the dollar in US economic dominance.

Michael Hudson Talks with the Saker About the Russian Counter-Sanction of Paying for Its Gas With Roubles

Michael Hudson answers the Saker’s questions about the ramifications of Russia’s “gas only for roubles if you have been mean to us” measure.

Some Additional Comments on the Russian Counter-Sanction of Requiring Gas Payments in Roubles

Attempting to clear some of the fog around the Russia counter-sanction of requiring rouble payment for gas by “unfriendly nations.”

Russia Counter-Sanctions “Unfriendly Nations” by Requiring Gas Payments in Roubles; Dallas Fed Predicts 2022 Global Recession if Russian Energy Supply Remains Restricted

Clearing up misunderstandings about the Russian move to require unfriendly countries to pay roubles for gas.

Is China Socialist or State Capitalist? – Michael Hudson and Patrick Bond

Michael Hudson and Patrick Bond: Will China resist financialization and lead the way on climate policy, or is it practicing capitalism lite?

Progressives Fall for Crypto-Bros Intelligence-Insulting Claim of “Inclusiveness”

Why do so many people who think of themselves as smart have their brains go to mush when the topic is crypto?

India Is Mulling Rupee-Ruble Payments System for Trade with Russia

India is mulling setting up rupee-ruble payment arrangements, to allow it to trade with Russia in spite of the sanctions regime.

AG Merrick Garland Outlines Corporate Crime Prosecution Priorities

AG Merrick Garland outlined corporate crime enforcement priorities in a speech last week before an ABA group.

America Defeats Germany for the Third Time in a Century: The MIC, BARE and OGAM Conquer NATO

Why America is operating abroad to advance the interests of arms dealers, oil & gas, and Big Finance, and not its citizens.

A Very Preliminary Look at the Partial Suspension of Russia’s Access to SWIFT

News on the partial SWIFT cutoff for Russia was fuzzy. Despite being included, its central bank intervened in FX markets this AM. What gives?

Global Financial Risk Factors and Sovereign Risk

An increase in global financial risk causes a large and persistent widening of sovereign spreads, with the spillover effects especially pronounced for speculative-grade sovereign debt

Financialization at Heart of Economic Malaise

Sadly, finacialization is still very much with us, even though policy-makers know better by now.