Recently, I came across an interview with Dick Bryan and Mike Rafferty for the JACOBIN magazine. The interview concerns their analysis of financialisation and it can be accessed in the following web-address: https://jacobinmag.com/2019/07/financialization-capitalism-with-derivatives-australia. The interview has the telling title ‘How Finance Exploits Us’. It is not coincidence that a book on financialisation by Costas Lapavitsas carries the same title (‘Profiting Without Producing: How...
Read More »Physical Gold Withdrawals from the Shanghai Gold Exchange and The New Silk Road Jesse
I would add to government accumulation the likelihood that as incomes rise in the East there will also be increased demand from households. There already is. In the West, physical gold is mostly bling, with much of the saving in gold held largely in derivates as financial saving. And, as Jesse observes, the "paper gold" — "digital gold" really — is an issue owing to hypothecation and re-hypothecation. In the East physical gold doubles as ornament and real saving. In addition, in...
Read More »Why Trump now wants talks with Iran — Pepe Escobar
Maybe Iran holds the Trump card? Putting the West on notice.The Vineyard of the SakerWhy Trump now wants talks with Iran Pepe EscobarSee alsoReminiscence of the FuturePepe Escobar's Superb Segment On European Elections. Andrei Martyanov
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