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Canada's banking system has been the subject of international praise from economists grappling with global turmoil, but one 12-year-old girl begs to differ. Victoria Grant of Cambridge, Ont. is earning a reputation as a financial pundit after her tirade against her homeland's borrowing practices went viral on YouTube. Grant is already a veteran of the financial lecture circuit, but …
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Crash Alert By Mike Whitney
As you might have noticed, the stock market is falling like a stone. As of 9 AM PST, the Dow Jones has dropped 172 points while all the other indices are down sharply. German 2-year debt (bund) has dipped below 0% this morning at auction, signalling an acceleration in the bank run taking place in southern Europe. Depositors in Spain, …
Read More »The Countdown To The Break Up Of The Euro Has Officially Begun By Michael Snyder
The results of the elections in France and Greece have made it abundantly clear that there is a tremendous backlash against the austerity approach that Germany has been pushing. All over Europe, prominent politicians and incumbent political parties are being voted out. In fact, Nicolas Sarkozy has become the 11th leader of a European nation to be defeated in an …
Read More »So Long, US Dollar The Media Won’t Touch This Story About The End Of The US Dollar By Marin Katusa
There's a major shift under way, one the US mainstream media has left largely untouched even though it will send the United States into an economic maelstrom and dramatically reduce the country's importance in the world: the demise of the US dollar as the world's reserve currency. For decades the US dollar has been absolutely dominant in international trade, …
Read More »Economic Crisis Takes a Bite From Military Spending By Thalif Deen
UK is one of the countries that have either downsized their defence budgets or made marginal increases in a bid to cut budget deficits. Credit:US Navy/public domain UNITED NATIONS, Apr 17, 2012 (IPS) – The global economic crisis – which had its origins back in 2008 – has had a spreading negative impact on military spending worldwide, according to a …
Read More »‘Islamic banking is not for Muslims alone’ Faizy SYED
Although the word ‘Islamic’ refers to beliefs specifically related to Muslims, it is a different case altogether with Islamic banking and finance. It is a sophisticated banking and finance structure based on moral and social values, which is compatible with the modern day financing needs, and hence, is receiving overwhelming response from Muslims and non-Muslims alike. Islamic banking Sometime ago, …
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