Article: Republicans will lose in the future if they miss the message Trump found

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Republicans will lose in the future if they miss the message Trump found

Earl Watt, 11 May 2021

The Republican Party is currently having the wrong argument, and it just might get in the way of the silver platter they are being handed by Democrats for the midterm election.

In a push to get the far-left agenda passed, Democrats are alienating the moderate voters in droves. When Joe Biden was elected to be a calming voice after the disruptor Donald Trump, many are realizing they may have made a mistake. When Trump became president, they expected him to shake up the Washington establishment, but what most didn’t realize was just how much pushback he was going to receive from the ruling class. Continue reading “Article: Republicans will lose in the future if they miss the message Trump found”

Article: Malaysia’s 1MDB, ex-unit seek recovery of $23 bln in assets

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Malaysia’s 1MDB, ex-unit seek recovery of $23 bln in assets

Reuters, 10 May 2021

Malaysian state fund 1Malaysia Development Berhad (1MDB) and a former unit have filed 22 civil suits seeking to recover more than $23 billion in assets from entities and people allegedly involved in defrauding them, the finance ministry said on Monday.

The ministry, in a statement on the suits, did not identify any of the individuals or entities being sued but said two foreign financial institutions were among them. The Edge business daily, citing court documents that it said it had seen, reported that JP Morgan (JPM.N) and Deutsche Bank (DBKGn.DE) were among those being sued.

Malaysian officials did not immediately confirm the names. Continue reading “Article: Malaysia’s 1MDB, ex-unit seek recovery of $23 bln in assets”

Article: Banking Is Center Stage as Iran Seeks Nuclear Deal That Delivers

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Banking Is Center Stage as Iran Seeks Nuclear Deal That Delivers

Golnar Motevalli, 09 May 2021

Iran is pushing for its banking industry to be given guaranteed and conclusive sanctions relief at talks to restore the country’s nuclear deal with world powers.

“The removal of sanctions against the central bank, Iranian banks, SWIFT, and any money transfer between them and major foreign correspondent banks, needs to be verified,” Abdolnaser Hemmati, the governor of the Central Bank of Iran, said in answers to written questions, referring to restrictions on Iranian access to the Belgium-based global payments system. Continue reading “Article: Banking Is Center Stage as Iran Seeks Nuclear Deal That Delivers”

Article: If the SEC doesn’t regulate crypto assets, a new shadow finance industry could emerge

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If the SEC doesn’t regulate crypto assets, a new shadow finance industry could emerge

PATRICK AUGUSTIN, 08 May 2021

The Securities and Exchange Commission (SEC) is dragging its feet in deciding whether it should approve the listing of a Bitcoin exchange-traded fund (ETF) proposed by VanEck Associates Group. While it is good to be cautious, speed and political decisiveness are equally important. Otherwise we risk the rise of a digital shadow finance industry.

Cryptocurrencies are here to stay. The opportunities brought about by the digitization of assets and new financial technologies make it challenging to reverse the course of financial innovation. Continue reading “Article: If the SEC doesn’t regulate crypto assets, a new shadow finance industry could emerge”

Article: Corus Entertainment Is Watching for Windows in High-Yield Market

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Corus Entertainment Is Watching for Windows in High-Yield Market

Esteban Duarte, 07 May 2021

Corus Entertainment Inc., which has produced shows led by actors such as Christopher Plummer, plans to take an opportunistic approach to U.S. and Canadian high-yield bond markets after a recent debt sale fetched strong investor demand, Chief Financial Officer John Gossling said.

The Toronto-based based firm sold C$500 million ($410.3 million) of seven-year unsecured bonds April 26 in the company’s first such deal since 2013. Proceeds are being used to reduce bank credit facilities, which are in the process of getting extended to May 2025, he said. Continue reading “Article: Corus Entertainment Is Watching for Windows in High-Yield Market”

Article: How America Became the Money Laundering Capital of the World

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In March, federal agents raided the Beverly Hills premises of a company called U.S. Private Vaults. According to a subsequent grand jury indictment, U.S. Private Vaults was a money laundering operation where drug dealers and others could anonymously stash fentanyl, guns, and “huge stacks of $100 bills” in safe deposit boxes. U.S. Private Vaults didn’t really bother to hide its business, boasting in ads, “We don’t even want to know your name.” It also shared its strip mall storefront with Gold Business, which allegedly specialized in laundering drug money via purchases of gold. Continue reading “Article: How America Became the Money Laundering Capital of the World”

Article: SILVER EATS DOUBT FOR BREAKFAST

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SILVER EATS DOUBT FOR BREAKFAST

Korbinian Koller, 07 May 2021

Gaining certainty about a clear picture of the future is getting more complex by the minute. Data arrives of never-seen occurrences that make it seemingly impossible to know how everything will pan out. President Biden demands higher taxation of the rich and a minimum wage of US$15. News about Silver market manipulation introduces fear into this market sector. Janet Yellen spoke of inflation. Many are talking about a possible hyperinflation. Others however are pointing towards the “Japanization” of America. On top, a recent New York Times headline reads: “Reaching herd immunity is unlikely in the U.S.”. All this noise is creating more confusion and pressure instead of clarity. The good news is: You do not need to know how the future unfolds to preserve your wealth. And Silver eats doubt for breakfast. Continue reading “Article: SILVER EATS DOUBT FOR BREAKFAST”

Article: FCC’s Net-Neutrality Proposal Marred by Millions of Fake Comments

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FCC’s Net-Neutrality Proposal Marred by Millions of Fake Comments

James V. Grimaldi, 06 May 2021

Nearly 18 million fake comments were filed with the Federal Communications Commission over its proposal to scale back internet regulation, fueled by both opponents and supporters of the rule, an investigation by the New York attorney general’s office found.

A report by Attorney General Letitia James’s office highlighted companies that specialize in a little-known influence industry that generates made-up comments and often attaches the names of real people caught up in marketing ploys. The 18 million fake comments represented more than 80% of all public comments filed to the FCC on its net-neutrality proposal four years ago. Continue reading “Article: FCC’s Net-Neutrality Proposal Marred by Millions of Fake Comments”

Article: US regulator probing China’s role in container shortage

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US regulator probing China’s role in container shortage/strong>

John Gallagher, 06 May 2021

A top maritime official has started an informal investigation into whether China is using its market power to monopolize containers and other equipment crucial to international supply chains to pump up rates paid by American exporters.

Carl Bentzel, a U.S. Federal Maritime Commissioner (FMC), told attendees at a virtual business meeting hosted by the Intermodal Association of North America that he is looking into the availability of containers, intermodal chassis and railroad equipment, and whether the U.S. has become overly dependent on such equipment owned and managed by China. Continue reading “Article: US regulator probing China’s role in container shortage”

Article: Swedbank Fined $5.5 million by Nasdaq Stockholm

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Swedbank Fined $5.5 million by Nasdaq Stockholm

Dominic Chopping, 05 May 2021

STOCKHOLM–Swedbank AB said Wednesday that it has been ordered to pay 46.6 million Swedish kronor ($5.5 million) by Nasdaq Stockholm’s disciplinary committee for anti-money laundering shortcomings.

“The disciplinary committee states that Swedbank over a long period of time had shortcomings in its AML processes and routines and that the shortcomings were known to the bank’s former top management for a long period of time,” the bank said.

The fine, for breaching Nasdaq rules on disclosure of information, relates to the period between December 2016 and February 2019. Continue reading “Article: Swedbank Fined $5.5 million by Nasdaq Stockholm”

Chris Hedges: Don’t Be Fooled By Joe Biden

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Chris Hedges: Don’t Be Fooled By Joe Biden

Don’t be fooled by Joe Biden. He knows his infrastructure and education bills have as much chance at becoming law as the $15-dollar minimum wage or the $2,000 stimulus checks he promised us as a candidate. He knows his American Jobs Plan will never create “millions of good paying jobs – jobs Americans can raise their families on” any more than NAFTA, which he supported, would, as was also promised, create millions of good paying jobs. His mantra of “buy American” is worthless. He knows the vast majority of our consumer electronics, apparel, furniture and industrial supplies are made in China by workers who earn an average of one or two dollars an hour and lack unions and basic labor rights. He knows his call to lower deductibles and prescription drug costs in the Affordable Care Act will never be permitted by the corporations that profit from health care. He knows the corporate donors that fund the Democratic Party will ensure their lobbyists will continue to write Continue reading “Chris Hedges: Don’t Be Fooled By Joe Biden”

Article: Just Keeps Getting Worse: Services Trade Surplus, the American Dream Not-Come-True, Falls to 9-Year Low, Total Trade Deficit Explodes to Worst Ever

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Just Keeps Getting Worse: Services Trade Surplus, the American Dream Not-Come-True, Falls to 9-Year Low, Total Trade Deficit Explodes to Worst Ever

Wolf Richter , 04 May 2021

Back when globalization by Corporate America was still a good thing, anxieties about the ballooning trade deficit in goods were medicated away with promises that exports of services – such as software, movies, and Wall Street efforts to financialize everything – would boom and balance out the trade. We’d buy cheap goods made in other countries, and they’d buy our expensive services, and it would all balance out. That was the rationale. Few economic rationales have failed more spectacularly.

Promised export boom of services turned out to be fake. Continue reading “Article: Just Keeps Getting Worse: Services Trade Surplus, the American Dream Not-Come-True, Falls to 9-Year Low, Total Trade Deficit Explodes to Worst Ever”

Article: Asia’s Lopsided Economic Booms Store Problems for the Future

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Asia’s Lopsided Economic Booms Store Problems for the Future

Mike Bird, 03 May 2021

South Korea and Taiwan both reported better-than-expected economic growth last week, and in both cases it looks quite similar: Exports have boomed, domestic demand hasn’t. That has already caused some problems, which will be exacerbated if the trend continues unabated.

In South Korea’s case, exports of goods were 4.4% higher in the first quarter compared with the final quarter of 2019, before the pandemic hit. Meanwhile, private consumption spending is still languishing 5.5% below that benchmark.

It’s a similar story in Taiwan. Electronics exports in particular are up by 28.4% year-over-year, with net exports contributing far more to the overall 8.2% growth in gross domestic product than consumption. Continue reading “Article: Asia’s Lopsided Economic Booms Store Problems for the Future”

Article: Asia’s Lopsided Economic Booms Store Problems for the Future

Article - Media, Publications

Asia’s Lopsided Economic Booms Store Problems for the Future

Mike Bird, 03 May 2021

South Korea and Taiwan both reported better-than-expected economic growth last week, and in both cases it looks quite similar: Exports have boomed, domestic demand hasn’t. That has already caused some problems, which will be exacerbated if the trend continues unabated.

In South Korea’s case, exports of goods were 4.4% higher in the first quarter compared with the final quarter of 2019, before the pandemic hit. Meanwhile, private consumption spending is still languishing 5.5% below that benchmark.

It’s a similar story in Taiwan. Electronics exports in particular are up by 28.4% year-over-year, with net exports contributing far more to the overall 8.2% growth in gross domestic product than consumption. Continue reading “Article: Asia’s Lopsided Economic Booms Store Problems for the Future”

Article: ‘America First’ clashes with India’s bid for strategic autonomy

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‘America First’ clashes with India’s bid for strategic autonomy

P.K.Balachandran, 01 May 2021

Colombo, May 1: India and the US have designated themselves as “strategic partners” with political, economic and military dimensions to the relationship. But the partnership has kept coming under strain.

The reasons are two-fold: Firstly, its contours are not defined. Secondly, Washington’s ‘America First’ policy and its tendency to pursue a foreign policy almost exclusively in its own immediate interest, clashes with India’s penchant for maintaining ‘strategic autonomy’ despite its increasing economic and military dependence on the US. Continue reading “Article: ‘America First’ clashes with India’s bid for strategic autonomy”

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