10th May 2012
"Because so much oil and natural gas is locked up in places with unstable regimes or unsavory leaders-from Equatorial Guinea to Indonesia to Russia-ExxonMobil often finds itself with more power to affect the local society than the best-intentioned State Department functionaries." The American Prospect
As Europe faces the threat of financial market rebellion, Jeff Madrick tells European leaders to listen to the people and end austerity. Next New Deal
While worries abound about the status of the dollar as the world's reserve currency and what it would mean for the US politically and economically if it weakened. Economist Barry Eichengreen shows there are both benefits and snags to the dollar as a reserve currency. The American Interest
Despite claims that the yuan is undervalued, John Aziz says people are forgetting that every nation with a fiat currency is to some degree a currency manipulator. "That's what fiat is all about: the ability of the state to manipulate markets through monetary policy." Zero Hedge
"Governments may pay lip service, but in times of stress they face a strong temptation to force central bankers to cover budget deficits through the printing press. Often the bankers don't wait to be told (witness the Federal Reserve's recent rounds of quantitative easing)." The Everyday Economist
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