Posts Tagged ‘russia’

Now Russia’s Promoting A New World Currency

The smackdowns of the U.S. dollar continue. This time Russian President Medvedev is pounding on the table.  Medvedev is basically echoing the rants that have come out of China about the supremacy of the dollar and proposes the same fantasy of some supra-national currency oriented around the IMF and its special drawing rights units. Until […]

Russia Won’t Pay For IMF Lending Expansion

I missed this earlier today. From the Alexei Kudrin, the Finance Minister, said the country “Russia is not taking part” because it already is giving $10bn in emergency funding to neighbouring countries of the former Soviet Union. “We believe we play a role of big brother in our region,” he told a Russian banking […]

Russia Cuts Off Ukraine’s Gas

In case you missed this, the war of words between the Ukraine and Russial over the formers gas supply from the latter culminated in Russian cutting off the Ukraine today. The ostensibly centers around a pricing dispute between the two although political tensions have been high for years and certainly played a part. The gas […]

Reminders Of Other Perils From The Mideast

Hamas and the Israelis have reminded us that there are more perils about than just financial ones. Israel increased the level of attacks on Hamas in the Gaza Strip and indicated that it is preparing for a long campaign. Hamas responded by firing rockets into Israel and threatening to reintroduce suicide bombings into Israeli society. […]

Ignoring History And Veering Towards Protectionism

The dangerous part of the current world economic crisis is just getting underway. Events that can’t be controlled by a Federal Reserve, Bush or Obama administration are starting to unfold and the eventual impact they may have is not now known. Throughout history, sudden shifts in economies and the weal of the majority have resulted […]