Super Imperialism Bank of China flees Fannie-Freddie U.S., Europe, Japan Devised Plan to Prop Up Dollar, Nikkei Says: Finance officials from the U.S., Japan and Europe in mid-March drew up plans to strengthen the U.S. dollar following troubles at Bear Stearns Cos., Nikkei English News reported, citing unnamed sources. FDIC announces 10th bank failure of the year: Georgia's Integrity Bank is closed by state regulators. FDIC is named receiver and branches will reopen as Regions Bank.
Mike Whitney Interviews Michael Hudson
"Dollar hegemony enables the US to own indirectly but essentially the entire global economy by requiring its wealth to be denominated in fiat dollars that the US can print at will with little in the way of monetary penalties. Continue
By Saskia Scholtes in New York and James Politi in Washington
Bank of China has cut its portfolio of securities issued or guaranteed by troubled US mortgage financiers Fannie Mae and Freddie Mac by a quarter since the end of June. Continue
Saturday, 30 August 2008
Posts
