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Finance

UK Lockdown Economy CRASHES as Government to Borrow £300bln by Year’s End

LONDON – The UK government “was forced” to borrow a record £62bln to balance its books in April as the public finances felt the strain from a shutdown of the economy that saw high street spending plummet by an unprecedented 18%. Figures from the office for national statistics highlighted the dramatic impact of the COVID-19 […]

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DEEP STATE SANCTIONS BACKFIRE: Russia Gets Rid of 96% of US Debt Holdings in Favor of Massive Gold Reserves, China Follows Suit

MOSCOW/WASHINGTON, D.C. – May 18, 2020 – Moscow has continued to sell off United States Treasury securities, cutting its stockpile by US$8.73 billion in March alone, according to the latest data from the US Department of the Treasury. Russia’s holdings of US state debt amounted to $3.8 billion in March, compared with $12.5 billion just a […]

REPORT: How S-400 ‘Shot Down’ the F-35

WASHINGTON, D.C./ANKARA – May 16, 2020 – Suspending Turkey from the F-35 program may prevent jet production from continuing at its current pace, a US government report warned, as some Turkish-made parts still need to be sourced from elsewhere. The $428-billion effort to build F-35 fighter jets appears to have suffered another blow, according to […]

Putin’s Call for a New System and the 1944 Battle of Bretton Woods

As today’s world teeters on the brink of a financial collapse greater than anything the world experienced in either 1923 Weimar or the 1929 Great depression, a serious discussion has been initiated by leaders of Russia and China regarding the terms of the new system which must inevitably replace the currently dying neo-liberal order. Most recently, Vladimir Putin re-initiated his January 16, 2020 call for a new emergency economic conference to deal with the looming disaster based upon a live session with representatives of the five nuclear powers of the UN Security Council.

MAJOR: US Treasury Admits Unemployment May Have Hit 25% Due to Lockdown

WASHINGTON, D.C. – Treasury Secretary Steven Mnuchin acknowledged on Sunday that the unemployment rate in the United States may have already reached 25% as the administration works to reopen the economy amid the coronavirus lockdown. “This is no fault of American business, this is no fault of American workers, this is a result of a […]