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Capital Controls: Global Experience

...In the 1997-1998 the countries of South East Asia had to counter the activities of financial speculators acting in accordance with the prescriptions of the International Monetary Fund. They resorted to currency interventions spending the money taken from currency reserves. With the reserves depleted they turned to world lenders. There they had the International Monetary Fund with its sickly and threadbare Washington consensus dragging them into a vicious circle. All of a sudden one country got out of it. Malaysia led by Prime Minister Mahathir bin Mohamad’ introduced capital controls. It banned currency operations related to cross border capital flows. The measure was a direct challenge to the International Monetary Fund and its backroom owners...

Valentin KATASONOV | 22.12.2014


 

Season of Goodwill… West Delivers Sanctions, Suffering and Conflict

Obama also signed off on new sanctions to hit the people of Crimea, for their audacity to vote in a referendum in March to secede from the neo-Nazi regime that his CIA shunted into power... As US President Barack Obama departed from the White House last Friday for Christmas holidays with his family in sunny Hawaii, he bequeathed his signature to a Congress «present» for the Kiev regime. Among the «goodies» are millions of dollars worth of lethal military aid for the regime that seized power in an illegal coup in February this year... As the world prepares to celebrate Christmas – an occasion of peace, joy and salvation for humanity – Washington and its allies in Canada and the European Union see fit to unleash more sanctions on Russia, fuel further misery and suffering in Ukraine, and perhaps most perniciously, to stoke conditions for larger war...

Finian CUNNINGHAM | 21.12.2014


 

How the CIA Launched the «Financial Pearl Harbor» Attacks on Russia and Venezuela

Central Intelligence Agency director John Brennan's long familiarity with Saudi Arabia, owing to the time he spent there as the CIA station chief in Riyadh in the 1990s and his knowledge of Saudi oil operations, has paid off. Petroleum industry insiders claim that Brennan's agents inside Saudi Aramco convinced the firm's management and the Saudi Oil Ministry to begin fracking operations in order to stimulate production in Saudi Arabia's oldest oil fields. The Saudis, who are not known for their hands-on knowledge of their nation’s own oil industry, agreed to what became an oil pricing catastrophe which would not only affect Saudi Arabia but oil producing nations around the world from Russia and Venezuela to Nigeria and Indonesia...

Wayne MADSEN | 20.12.2014


 

Modi, Putin and the World Order (II)

...Modi is not bogged down in ideology when it comes to India’s relations with the world community. He views the world order almost exclusively through the prism of India’s interests... Modi cannot be unaware of the ground rules of predatory capitalism. His cautious remarks to the media in Putin’s presence suggest that while he may not take recourse to a path of strategic defiance, on the other hand, he seems acutely conscious that abject surrender would only set the stage for further demands and the ultimate outcome would be detrimental to his government’s nationalist agenda and the protective system it promotes for India’s economic and cultural independence...

Melkulangara BHADRAKUMAR | 19.12.2014


 

Rafael Correa – Hugo Chavez’s Political Successor

...Many in Latin America believe that after Hugo Chavez, Rafael Correa became America’s main target. Correa’s decision to close the US air base at Manta was taken particularly badly by Washington. The agreement on its use expired in 2009, and Correa announced that the contract would not be extended. Washington was asked to open an Ecuadorian base in the US on a reciprocal basis. «That’s not how we do things», replied the US State Department. Ecuador’s response came immediately: «In which case, there will not be a US military base in Ecuador either»... Rafael Correa has no intention of changing his country’s foreign policy, which is geared towards Latin American integration, the development of a multipolar world, and the maintenance of close relations with countries like China and Russia. For these reasons, John Kerry’s visit to Ecuador, which has been rumoured in the media all year, will not take place.

Nil NIKANDROV | 18.12.2014


 

What Makes US Reluctant to Solve Iran’s Nuclear Problem?

Another meeting of the «big six» with Iran is drawing near. Iranian Deputy Foreign Minister Seyed Abbas Araqchi announced that the next round of talks on the country's nuclear program would be held in Geneva on December 17 to include direct contacts with the US delegation... The US-Iran contradictions constitute the main hindrance on the way to finding a solution to Iranian nuclear program. Israeli Prime Minister Benjamin Netanyahu made a statement saying that Israel played a crucial role in torpedoing the peaceful settlement. This is just one of the reasons why the United States is not ready for productive result of the talks. There are other reasons as well...

Nikolai BOBKIN | 17.12.2014


 

Modi, Putin and the World Order (I)

A handful of people in Delhi would know that Prime Minister Narendra Modi had a secret plan to take the Chinese President Xi Jinping who visited India in September to see his native town of Vadnagar in Gujarat, an ancient settlement with a history that goes back to 2500 B.C... But Modi’s secret plan was also a reflection of his distilled worldview, rich in political symbolism, insofar as it flagged his devotion to the ‘Asian century’... The following remarks by Modi conveyed his unreserved support of Russia – and Putin’s decisive leadership of his country, in particular – and, indeed, this has been articulated against the backdrop of the Cold-War like trends in world politics and the concerted Western strategies to ‘isolate’ Russia... «President Putin and I agreed that this is a challenging moment in the world. Our partnership and the strong sensitivity that we have always had for each other’s interests will be a source of strength to both countries…»

Melkulangara BHADRAKUMAR | 16.12.2014


 

American Style Freedom for Ukraine or Hello to Arms!

On December 11, US Congress unanimously passed the measure titled Ukraine Freedom Support Act of 2014 authorizing defensive weapons for Ukraine. That is exactly what the Ukraine’s government wanted since a long time ago. The Ukrainian lobby in the US applied efforts to push the bill through. The motion got full support of right wing radicals like Senator John McCain. The passing of the Act has become one more step on the way of escalating the Ukraine’s crisis and deteriorating the relations between Russia and the United States... The President will probably sign the bill into law to use the authorization depending on the situation. It should be noted that Obama loses initiative when it comes to foreign policy issues. The Democratic Party lost the recent elections making Biden and Kerry the persons who call the shots in the administration. The further shift of foreign policy to the right is possible. Swimming with the tide president Obama may start large-scale arms supplies to Ukraine even if he does not want to. 

Arkady DZIUBA | 16.12.2014


 

Congressional Foreign Policy Resolutions a Hint of Things to Come

In passing the so-called «Ukraine Freedom Support Act», the U.S. Congress has provided a hint of the foreign policy micro-managing in store for the Obama administration in its remaining two years in office. The Congress utilized every neo-conservative talking point and policy plank to include in the bill designed to punish Russia for the aftermath of the neocon-contrived fascist coup d’état in Kiev... Congressional action against Russia came at the same time the House and Senate passed a bill to punish current and former Venezuelan officials by denying Venezuelans visas and freezing their U.S. assets...

Wayne MADSEN | 15.12.2014


 

Where Europe Heads to? Harbingers of Political Storm

The daily routine has distracted the attention of ruling circles in Europe. They have failed to see in time the erosion of political order due to growing interference of EU supranational structures into the affairs of national states. The first warning was sounded during the May 2014 European Parliament election. Miscellaneous and sundry political parties united in their anti-EU drive received 30% of the votes. The Treaty of Lisbon was concluded in 2007 to replace the failed EU Constitutional Treaty. Since then it has become clear that the European integration is quite a reversible process...

Vladimir NESTEROV | 14.12.2014




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OUR COLUMNIST
    Leonid SAVIN

Cuba and US Foreign Policy

...The shift in the relations between Washington and Havana gives rise to speculations related to Russia-Cuba ties. For instance, the Los Angeles Times writes «Better relations between the United States and Cuba also could undermine Russia's expectation of Havana's backing in political and diplomatic confrontations that pit the former superpowers against each other». The Washington Times believes that the US intelligence is concerned over the Russia-Cuba security agreement concluded in May 2014 establishing a joint working group between Russia’s Security Council and the Cuban Commission for National Security and Defense...

22.12.2014
 
 
 
 
 
 
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