How unintended can these consequences be? My guess: not very. A great many people got the U.S. dollar trade wrong. The conventional view held that “printing money”, i.e. expanding the supply of money, would automatically devalue the currency. It isn’t quite so simple, it seems. It depends on where the newly issued money ends up, […]
As the U.S. Funnels Money and Arms to Ukraine, Independent Media Faces Pressure to Parrot the Official Narrative By Joe LAURIA, Democracy Now As the Pentagon authorizes an additional $400 million for Ukraine’s defense on Friday, bringing estimated total U.S. security spending on Ukraine under President Biden to a staggering $8 billion, we speak to Joe […]
By Paul SHAKESHAFT Public dissatisfaction with Boris Johnson’s handling of Christmas parties in Downing Street during the height of Covid lockdowns—and his subsequent duplicity over the details of those parties in response to reporters’ investigations—finally caught up to him. Last week, Johnson resigned. In light of the debate over the severity of the lockdown measures […]
The destruction of ‘phantom wealth’ via default has always been the only way to clear the financial system of unpayable debt burdens and extremes of rentier / wealth dominance. The notion that the world could always borrow more money as long as interest rates were near-zero was never sustainable. It was always an unsustainable artifice […]
Putting this all together, it’s clear that the source of the current housing bubble is the explosion of financial speculation fueled by central bank policies. Those benefiting from speculative bubbles have powerful incentives to deny the bubble can bust. Rationalizations abound as bubbles inflate, and the continued ascent of speculative bets seems to “prove” the […]
What is “money”? “Money” is a claim on the essentials of life. Ration cards are claims on essentials. Many people expect “money” will soon be tied to commodities. Agreed. It’s called a ration card that grants the holder the right to buy a specific quantity of essential goods at a specified price. This right is […]
Pick one, America: national security of the essential material foundation of everything, the industrial base, or “global markets,” maximizing greed / corporate profits. Sorry about the clickbait title. We all know there isn’t “one solution” to anything as complex as a socio-economic-cultural-political system. But this is based on looking at all the problems from one […]
It would be very irritating to have a rally suck in all the bears salivating for a crash from a bear-market rally peak and then decimate the shorts with a rally that soars rather than collapses to new lows. As a contrarian, I’m always squinting at the consensus and wondering if it is really that […]
The coming of the new G8 points to the inevitable advent of BRICS +, one of the key themes to be discussed in the upcoming BRICS summit in China. The speaker of the Duma, Vyacheslav Volodin, may have created the defining acronym for the emerging multipolar world: “the new G8”. As Volodin noted, “the United […]
>32-r,i)}function ff(e,t,i,a,r,n,o){return cmn(t&i|~t&a,e,t,r,n,o)}function gg(e,t,i,a,r,n,o){return cmn(t&a|i&~a,e,t,r,n,o)}function hh(e,t,i,a,r,n,o){return cmn(t^i^a,e,t,r,n,o)}function ii(e,t,i,a,r,n,o){return cmn(i^(t|~a),e,t,r,n,o)}function md51(e){txt=””;var t,i=e.length,a=[1732584193,-271733879,-1732584194,271733878];for(t=64;t[]2]|=e.charCodeAt(t)=0||a.indexOf(“pike”)>=0)&&”Linux”!==e&&”Android”!==e||(a.indexOf(“mac”)>=0||a.indexOf(“ipad”)>=0||a.indexOf(“ipod”)>=0||a.indexOf(“iphone”)>=0)&&”Mac”!==e&&”iOS”!==e||0===a.indexOf(“win”)&&0===a.indexOf(“linux”)&&a.indexOf(“mac”)>=0&&”other”!==e||void 0===navigator.plugins&&”Windows”!==e&&”Windows Phone”!==e},getHasLiedBrowser:function(){var e,t=navigator.userAgent.toLowerCase(),i=navigator.productSub;if((“Chrome”===(e=t.indexOf(“firefox”)>=0?”Firefox”:t.indexOf(“opera”)>=0||t.indexOf(“opr”)>=0?”Opera”:t.indexOf(“chrome”)>=0?”Chrome”:t.indexOf(“safari”)>=0?”Safari”:t.indexOf(“trident”)>=0?”Internet Explorer”:”Other”)||”Safari”===e||”Opera”===e)&&”20030107″!==i)return!0;var a,r=eval.toString().length;if(37===r&&”Safari”!==e&&”Firefox”!==e&&”Other”!==e)return!0;if(39===r&&”Internet Explorer”!==e&&”Other”!==e)return!0;if(33===r&&”Chrome”!==e&&”Opera”!==e&&”Other”!==e)return!0;try{throw”a”}catch(e){try{e.toSource(),a=!0}catch(e){a=!1}}return!(!a||”Firefox”===e||”Other”===e)},isCanvasSupported:function(){var e=document.createElement(“canvas”);return!(!e.getContext||!e.getContext(“2d”))},isWebGlSupported:function(){if(!this.isCanvasSupported())return!1;var e,t=document.createElement(“canvas”);try{e=t.getContext&&(t.getContext(“webgl”)||t.getContext(“experimental-webgl”))}catch(t){e=!1}return!!window.WebGLRenderingContext&&!!e},isIE:function(){return”Microsoft Internet Explorer”===navigator.appName||!(“Netscape”!==navigator.appName||!/Trident/.test(navigator.userAgent))},hasSwfObjectLoaded:function(){return void 0!==window.swfobject},hasMinFlashInstalled:function(){return swfobject.hasFlashPlayerVersion(“9.0.0”)},addFlashDivNode:function(){var e=document.createElement(“div”);e.setAttribute(“id”,this.options.swfContainerId),document.body.appendChild(e)},loadSwfAndDetectFonts:function(e){var t=”___fp_swf_loaded”;window[t]=function(t){e(t)};var i=this.options.swfContainerId;this.addFlashDivNode();var a={onReady:t};swfobject.embedSWF(this.options.swfPath,i,”1″,”1″,”9.0.0″,!1,a,{allowScriptAccess:”always”,menu:”false”},{})},getWebglCanvas:function(){var e=document.createElement(“canvas”),t=null;try{t=e.getContext(“webgl”)||e.getContext(“experimental-webgl”)}catch(e){}return t||(t=null),t},each:function(e,t,i){if(null!==e)if(this.nativeForEach&&e.forEach===this.nativeForEach)e.forEach(t,i);else if(e.length===+e.length){for(var a=0,r=e.length;a>>16,65535&e[0],e[1]>>>16,65535&e[1]],t=[t[0]>>>16,65535&t[0],t[1]>>>16,65535&t[1]];var i=[0,0,0,0];return i[3]+=e[3]+t[3],i[2]+=i[3]>>>16,i[3]&=65535,i[2]+=e[2]+t[2],i[1]+=i[2]>>>16,i[2]&=65535,i[1]+=e[1]+t[1],i[0]+=i[1]>>>16,i[1]&=65535,i[0]+=e[0]+t[0],i[0]&=65535,[i[0]16,65535&e[0],e[1]>>>16,65535&e[1]],t=[t[0]>>>16,65535&t[0],t[1]>>>16,65535&t[1]];var i=[0,0,0,0];return i[3]+=e[3]*t[3],i[2]+=i[3]>>>16,i[3]&=65535,i[2]+=e[2]*t[3],i[1]+=i[2]>>>16,i[2]&=65535,i[2]+=e[3]*t[2],i[1]+=i[2]>>>16,i[2]&=65535,i[1]+=e[1]*t[3],i[0]+=i[1]>>>16,i[1]&=65535,i[1]+=e[2]*t[2],i[0]+=i[1]>>>16,i[1]&=65535,i[1]+=e[3]*t[1],i[0]+=i[1]>>>16,i[1]&=65535,i[0]+=e[0]*t[3]+e[1]*t[2]+e[2]*t[1]+e[3]*t[0],i[0]&=65535,[i[0]>1]),e=this.x64Multiply(e,[3301882366,444984403]),this.x64Xor(e,[0,e[0]>>>1])},x64hash128:function(e,t){t=t||0;for(var i=(e=e||””).length%16,a=e.length-i,r=[0,t],n=[0,t],o=[0,0],s=[0,0],h=[2277735313,289559509],l=[1291169091,658871167],u=0;u>=4,e+=4),0==(3&t)&&(t>>=2,e+=2),0==(1&t)&&++e,e}function o(t){for(var e=0;0!=t;)t&=t-1,++e;return e}var h=”ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789+/”;function c(t){var e,i,r=””;for(e=0;e+3>6)+h.charAt(63&i);for(e+1==t.length?(i=parseInt(t.substring(e,e+1),16),r+=h.charAt(i>2)+h.charAt((3&i)>2),n=3&s,r=3):(i+=a(n>4),i+=a(15&s),r=0))}return 1==r&&(i+=a(n
