Government debt as percentage of GDP globally. (2009 estimates) (Photo credit: Wikipedia)
Short Video: Why the U.S. Government Will Default on Its Debt
09-28-2012 • http://www.garynorth.com, Gary North
The deficit of the U.S. government cannot be sustained. The general public does not understand this.
Paul Craig Roberts: America, The Next Banana Republic
09-28-2012 • http://www.prisonplanet.com
Alex welcomes American economist and Infowars contributing writer Paul Craig Roberts to discuss the impact of European austerity measures on world markets amidst ongoing riots.
Video: World Banker Makes Stunning Confession
Posted: 02 Oct 2012 12:16 AM PDT
The economic crisis should make people realize that banksters have deliberately lent too much money, knowing it will lead to chaos. Some at the top want to sit in international financial commitées to monitor the world economy as some kind of legislative and regulatory officers. But first they need currency crashes, instability and a global downturn. Perhaps a third world war. Then people will call for a tightly regulated not competitive market. China is a test for how the world government might work.
Posted in Banks, China, Currencies, Debt, Financial Institutions, Globalisation, Public Debts
Tagged Austerity, China, Gary North, Iran, Next Banana Republic, Paul Craig Roberts, United State, US government
Thanks to David Weston, this news is political dynamite par excellence:
Venezuela and Iran to Create Binational Bank
By News Bulletin
May 24, 2008, 15:11
May 20, 2008
Basing on the agreements signed between the Islamic Republic of Iran and the Bolivarian Republic of Venezuela in March 2007, both nations will create the Venezuelan-Iranian Binational Bank aimed at financing economic, commercial and social programs and projects for mutual benefit.
According to the Approbatory Law published in Official Gazette nº 38,933, dated May 19, 2008, the headquarter of this bank will be in Teheran and it could establish the bureaus or representatives necessary for the development of its functions.
The initial resources of the Binational Bank amount to $1.2 billion. Every party will contribute with $ 600 million initially taken from the capital set aside for the creation of the Venezuelan-Iranian Binational Fund for Development Financing and the Venezuelan-Iranian Investment Fund.
The Fund’s headquarter will be located in Caracas and it will be able to open the necessary bureaus and the initial capital amounts to $1,000.000 to be equally contributed by each party.
The financing granted to the Unique Social Fund will be administrated by this new fund; and the terms, payment conditions and guarantees established in the agreements previously signed will be respected.
Bolivarian News Agency (ABN)