Russia is being told by a trader at the world’s biggest commodity trading company, Glencore, to halt the export of grain out of its country, according to the Financial Times.
Commercial real estate maturities will peak in 2012 – $350 billion in loans coming due and hundreds of additional bank failures. Bank lending in the CRE market collapsing
The commercial real estate disaster is sinking banks on a weekly basis. Talk of a V-shape recovery is now largely a moot point since we are past the point of a quick and strong recovery.
• Faltering US recovery trips dollar
A newly published IMF strategy document calls for the implementation of a global currency, called the "bancor", to stabilise the international monetary system, while acknowledging that only a monumental shift toward acceptance of globalism will make it possible in the short term.
Thursday, 5 August 2010
Now Russia Is Being Told To Ban All Grain Exports As Crisis Worsens
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