Turkey’s lira has risen 6.5 percent in value against the dollar this year, reversing its steady 2020 slide and marking it as the best-performing currency among emerging markets so far in 2021. The lira lost 20 percent of its value against the dollar last year, trading below 8 to the buck for the first time...
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DRAGHI: BANKSTER CONTROL OF ITALIA
Italy’s newly-anointed Prime Minister Mario Draghi – born into the upper class with long Bankster credentials – World Bank, Goldman Sachs, European Central Bank, etc. – appealed to Italians to be patient. The government will deploy its $240 billion European relief package and “begin a new reconstruction,” said Draghi. Draghi noted the country is facing...
DRAGHI: ITALY’S NEW BANKSTER PM
Mario Draghi, the former leader of the European Central Bank who has been credited with saving the euro in 2012, has been tapped by Italy’s President Sergio Mattarella to be the new Prime Minister to help the country emerge from economic fallout from the coronavirus outbreak. Now in charge of the EU’s third-largest economy, Draghi...
GLOBAL ECONOMIC TRENDS
STOCK-BUYERS GO GLOBAL. Investors, i.e., gamblers, are looking beyond the booming U.S. stocks for bargains in Europe and the developing world, which they expect to rebound sharply as vaccines spread and COVID cases recede. U.S. equities markets are trading at or near record highs. Other markets offer greater chances for profits without as much risk...
COVID CASES UP, NATIONS LOCKING DOWN
FRANCE. To ring in the New Year, French Interior Gérald Darmanin, the country’s “top cop” – who was questioned last month by judges over rape charges – deployed 132,000 police to limit New Year’s Eve celebrations. The Financial Times reported the French government extended the nightly curfew in 15 departments in the east and south-east...
GLOBAL ECONOMIC TRENDS
POST-ELECTION BOND RALLY INCREASES NEGATIVE-YIELDING DEBT. The settlement of the U.S. election sparked a rally in the bond market, raising the global total of bonds carrying negative interest rates to a record $17.05 trillion, the Financial Times reported. During the economic shutdown, governments and corporations issued a flurry of new bonds, including many in European...
ARMENIA APPEALS TO RUSSIA IN NAGORNO-KARABAKH CONFLICT
Armenian Prime Minister Nikol Pashninian appealed to Russian President Vladimir Putin to provide security assistance while fighting continues over Nagorno-Karabakh, which would be seen as a major development in the conflict and could result in a showdown with Turkey. The Associated Press reported last Saturday that the Kremlin was yet to respond to Pashninian’s request....
GLOBAL ECONOMIC TRENDS
AUTOMATION THREATENS JOBS AS NEW SHUTDOWNS TAKE HOLD. With politicians closing – again – sectors of their states’ and nations’ economies to blunt the latest surge in COVID cases, companies are rushing the adoption of automating technologies that will let them maintain production without human workers, according to a new study by the World Economic...
GLOBAL ECONOMIC TRENDS
BILLIONAIRES GAINED WEALTH DURING THE ECONOMIC SHUTDOWN, During the pandemic, the wealth of the world’s billionaires grew by 13 percent to reach $10.2 trillion, topping $10 trillion for the first time, according to a study by UBS and accounting firm PwC. The previous record was $8.9 trillion at the end of 2019. Between 7 April...
CAUCASUS WAR: THE DEADLY FUTURE
Top world powers issued a joint statement last week condemning “in the strongest terms” the recent escalation in southern Caucasus (located on the border of Eastern Europe and Western Asia) that has led to mounting casualties for Armenia and Azerbaijan. The U.S., France, and Russia have called for a ceasefire after a recent breakout of...