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  The havoc hitting Iran’s national finances should leave no-one under any illusions. The country is facing economic warfare from the US and its European allies. In financial terms, it is equivalent to attacking the country with a weapon of mass destruction. The disruption and hardship being inflicted on Iranian citizens is criminal and unspeakably callous. But let’s make no …

At the Clinton Global Initiative last week Goldman Sachs CEO Lloyd Blankfein said that the US could risk its status as the world’s reserve currency… Today’s AM fix was USD 1,786.50, EUR 1,380.92, and GBP 1,109.01 per ounce. Yesterday’s AM fix was USD 1,777.25, EUR 1,374.73and GBP 1,102.38 per ounce. Silver is trading at $35.08/oz, €27.13/oz and £21.84/oz. Platinum is …

  We are at War. Somebody is Going to Pay.” George W. Bush, Sept 11th, 2001. September 10, 2012 "Information Clearing House" – –  Eleven years later, we are still at war. Bullets, mortars and drones are still extracting payment. Thousands, tens of thousands, millions have paid in full. Children and even those yet to be born will continue to …

“…I trust that you will agree that Islamic Finance, at least for jurisdictions like Hong Kong, means change – a change perception, a change in skills, a change in structures and techniques, in contracts, standards, and so on. Change in all its many forms, is happening within the global Islamic finance arena, even as we speak…” – Mr. Eddie Yue, Deputy Chief Executive …

Why Is the Libor Scandal So Important to You? There have been numerous big banking scandals recently. But the Libor scandal is the biggest financial scam in world history.  See this and this. The former CEO of Barclays said today that banks across the world were fixing interest rates in the run-up to the financial crisis .   Professor of economics and law Bill Black notes: It is the largest …

U.S. inequality is at its highest point for nearly a century. Those at the top – no matter how you slice it – are enjoying a larger share of the national pie; the number below the poverty level is growing. The gap between those with the median income and those at the top is growing, too. The U.S. used to …