China wants to do what the U.S. has done, which is to remain on a paper currency standard but make that currency important enough in world finance and trade to give China leverage over the behavior of other countries. The best way to do that is to increase its voting power at the IMF and…
The pinnacle of the global financial system is warning that conditions are right for a “full-blown banking crisis” in China. Since the last financial crisis, there has been a credit boom in China that is really unprecedented in world history. At this point the total value of all outstanding loans in China has hit a…
The Day After Nuclear Armageddon: Armchair Warriors, Chicken Hawks and the Colonization of Mars? Our society is run by insane people for insane objectives. I think we’re being run by maniacs for maniacal ends and I think I’m liable to be put away as insane for expressing that. That’s what’s insane about it. John Lennon The…
