India abandons US dollar to purchase Iranian oil

Most oil sales throughout the world are denominated in United States dollars (USD). According to proponents of the petrodollar warfare hypothesis, because most countries rely on oil imports, they are forced to...

A new Reserve currency to challenge the dollar – What’s really going on in The Straits of Hormuz. By David Malone

 A little over a year ago on 1st November 2010 I wrote what I called “…a little bit of scurrilous speculation.”  In it I speculated that an unintended consequence of QE had...

The Decline of the American Empire By Al Jazeera

The US has the world's biggest economy, the most influential culture, and the most potent military machine, with a budget that equals that of all other nations combined. It is the only power with a global project...

The Book of Jobs By Joseph E. Stiglitz

Forget monetary policy. Re-examining the cause of the Great Depression—the revolution in agriculture that threw millions out of work—the author argues that the U.S. is now facing and must manage a similar...

Economics and Economists By Rajindra C. Ratnapuli

(Originally published in The Sunday Leader, 28 August 2011) In mid 2008 the world plunged into an economic recession with devastating consequences throughout the world. The crisis apparently started in the USA....

Arab world’s most powerful woman arrives in Sri Lanka

Sheikha Lubna bint Khalid bin Sultan Al Qasimi, the most powerful Arab woman in the world according to Arab Business and Forbes magazines, who is also the Minister of Foreign Trade of United Arab Emirates, arrived...

Roubini The Next MF Global Collapse Could Be Goldman Sachs By Henry Blodget

  Nouriel Roubini was  was in fine form yesterday, scaring the bejeezus out of his followers on Twitter by saying that several huge financial institutions could collapse in the blink of...

Eurozone Deathwatch By Mike Whitney

There's no way to overstate the calamity that's unfolding across the Atlantic. The eurozone is imploding. The smart money has already fled EU banks for safe quarters in the US while political leaders...

The Eurozone is Headed for a Crash by Mike Whitney

  Bank funding costs are rising, liquidity is being choked off, and interbank lending has started to stall. A full-blown crisis can still be averted, but leaders will have to knuckle down and resolve the political...

Market Crash ‘Could Hit Within Weeks’, Warn Bankers By Harry Wilson, and Philip Aldrick

A more severe crash than the one triggered by the collapse of Lehman Brothers could be on the way, according to alarm signals in the credit markets. Insurance on the debt of several major European banks...