Mike Norman Economics

In the latest push for convergence, China has established a payment versus payment (PVP) system for Chinese yuan and Russian ruble transactions in a move to reduce risks and improve the efficiency of its foreign exchange transactions. The PVP system for yuan and ruble transactions, designed to streamline commerce and curency transactions between the two nations, was launched on Monday after receiving approval from China’s central bank, according to a statement by the country’s foreign...

In the aftermath of the financial crisis, I’ve become convinced that the U.S. empire will never reform on its own. There’s simply too much money and power at stake, and we already know oligarchs are above the law under our two-tier justice system. The biggest financial criminals of a generation were not only spared prison for their actions, but were handsomely rewarded. Wall Street ran the Obama administration before, and it runs the Trump administration now. It’s become clear to me that...

After repeated warnings from BoE about the surging pace of lending to households, British lenders are planning the biggest cutback in consumer loans in nearly 10 years (BoE's quarterly net balance of lenders' expectations for the availability of unsecured lending over the next three months fell to -28.6 from -16.2.)... Zero HedgeBritish Banks Forecast Biggest Consumer Credit Collapse In 10 Years Tyler Durden

Mercouris assembles what is known to date, which is nothing that is evidence-based. Result? Reaching for straws.The DuranThe Russiagate scandal descends into total absurdity Alexander Mercouris

The American Century? Or Twilight of the Empire?The Vineyard of the SakerTrump goes full shabbos-goyThe Saker

The billionaire brothers Charles and David Koch spent much of the eight years of the Obama presidency stoking fears about the budget deficit. Their political network aired an unending cascade of campaign advertisements against Democratic politicians, sponsored several national bus tours, and paid organizers in communities across the country to mobilize public demonstrations, all focused on the dangers of increasing the deficit. One such ad even warned that government debt would lead to a...

Where does one begin to counter such lies and misrepresentations? Who has been the most destabilizing force in the Middle East over the last 27 years? I would suggest that the United States multiple invasions of Iraq, military action in Libya and our decision to help arm and train Islamic rebels keen on overthrowing Syria's President Assad qualifies us as the biggest meddlers and chaos makers. One of the recurring big lies being pushed in the media--by Republicans and Democrat as well as...

Declassified records from the Reagan presidential library show how the U.S. government enlisted civilian agencies in psychological operations designed to exploit information as a way to manipulate the behavior of targeted foreign audiences and, at least indirectly, American citizens. A just-declassified sign-in sheet for a meeting of an inter-agency “psyops” committee on Oct. 24, 1986, shows representatives from the Agency for International Development (USAID), the State Department, and...

The US again shows itself unable to keep its agreements. Who is going to make agreements with a country like that?Sic Semper TyrannisWho Wrote Trump's Decertification Speech Part 1 Col. W. Patrick Lang, US Army (ret.) At the Defense Intelligence Agency, Lang was the Defense Intelligence Officer (DIO) for the Middle East, South Asia and counter-terrorism, and later, the first Director of the Defense Humint Service. At the DIA, he was a member of the Defense Senior Executive Service. He...

It may be something of a cliché that distant wars have a way of coming home, but that doesn’t make it any less true. Policing today is being Baghdadified in the United States. Over the last 40 years, as Washington struggled to maintain its global military influence, the nation’s domestic police have progressively shifted to military-style patrol, search, and surveillance tactics, while measuring success through statistical models familiar to any Pentagon staff officer. Please understand...