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IMF Changes Rules to Isolate China-Russia

The nightmare scenario of U.S. geopolitical strategists seems to be coming true: foreign economic independence from U.S. control. Instead of privatizing and neoliberalizing the world under U.S.-centered financial planning and ownership, the Russian and Chinese governments are investing in neighboring economies on terms that cement Eurasian economic integration on the basis of Russian oil and tax exports and Chinese financing.

Hamas Asks Russia to Help Stop Israeli 'Aggression'

The Palestinian Islamic Movement Hamas on Saturday called for Russian intervention to stop Israeli “aggression” against Palestinians, a request that comes after weeks of violence in the West Bank during which Israeli security forces have killed dozens of Palestinians and injured hundreds more.

Never Mind FIFA, How about a Crackdown on the Banksters?

FIFA boss Sepp Blatter’s sudden resignation this week only days after being re-elected shows that the US campaign to bust the football federation over alleged financial corruption is probably going to intensify during the weeks and months ahead.
  • Published in Opinion

War and the US Dollar

Although many funerals have been held for the US dollar, still it lives on. On the eve of the collapse of the Bretton Woods currency system, the dollar made up almost 80% of global foreign-exchange reserves (in 1970 it totaled 77.2%, and in 1972 - 78.6%). Then, after the transition to the system negotiated at the 1976 Jamaica Conference, that percentage gradually declined, reaching its lowest level - 59.0% - in 1995. In the wake of financial globalization, the dollar’s positions strengthened again (reaching 70-71% between 1999 and 2001), but then a new decline was seen in the dollar component of global foreign-exchange reserves - dropping below 61% in 2014. Nevertheless, it is still higher than in 1995.

Rating Weapon of Economic War

At the beginning of 2015 economic ratings given to Russia’s economy appeared in the West to cover the previous year, offer the forecasts for the current year and even for the period of 2016-2017. The ratings were presented at the World Economic Forum (January 21-23). Summing them up one can conclude that they look more like politically motivated decisions than economic assessments. It all boils down to one thing – Russia will face a deep economic crisis in the next two-three years. At the same time the leading rating agencies revised the ratings of the whole Russia’s economy and its largest companies, banks and regions.
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