Islamic Finance

A wise visitor from outer space who dropped in on Earth a millennium ago might have assumed that the Americas would eventually be colonized not by primitive Europeans but by the more advanced Arab civilization — and that as a result we Americans would all be speaking Arabic today. Yet after about 1200, the Middle East took a long break: …

 The single most astonishing fact about foreign exchange is not the high volume of transactions, as incredible as that growth has been. Nor is it the volatility of currency rates, as wild as the markets are these days. Instead, it's the extent to which the market remains dollar-centric.   Consider this: When a South Korean wine wholesaler wants to import Chilean …

The rioting and looting currently taking place in Egypt is primarily a result of massive food inflation and shows what all major cities in the United States will likely look like come year 2015 due to the Federal Reserve's zero percent interest rates and quantitative easing to infinity. On December 16th, 2009, NIA named Time Magazine's 2009 'Person of the …

The Obama administration's $78 billion cut to US defense spending is a mere "pin-prick" to a behemoth military-industrial complex that must drastically shrink for the good of the republic, a former Reagan administration budget director recently told Raw Story. "It amounts to a failed opportunity to recognize that we are now at a historical inflection point at which the time has arrived for …

Economist Michael Hudson joins Thom to talk about countries looking for alternatives to US dollar and rescued banks teetering towards collapse.