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If “The Economy is Recovering” Why Is There a Surge in Homeless Children?

A Black Agenda Radio commentary by Bruce A. Dixon | November 19, 2014

For the last three elections now, 2010, 2012 and 2015, corporate media and corporate politicians have ceaselessly assured us that “the economy” whatever that is, is “back on track”, wherever that is.

Despite what corporate media and politicians tell us, the positive indicators of soaring stock market valuations, rising real estate prices and the rigged unemployment figures that don’t count the jailed, the recently released from jails and prisons, and those who’ve given up on finding work or those working part time who desperately want full time hours real life for most real people hasn’t got any better since 2008 or 2009.

Last week an extraordinary and shameful study emerged from the National Center on Family Homelessness confirmed it by demonstrating that almost 2.5 million children in the US were homeless at some point during 2013. That’s one child in every thirty, in what we’re accustomed to thinking of as the richest nation on earth. In the most recent months for which statistics exist, the rate of homelessness among children is spiking, increased 8% nationally from 2012 to 2013, and by 10% or more in 13 states and the District of Columbia. In 2006 one in 50 children were homeless. In 2010 it was one in 45. Now, in the age of Obama, the 2013 number is 1 in 30.

The causes of homelessness among children are not your comforting stereotypes of drug use and mental illness. These are “comforting” because they encourage us to blame the drug-addicted, and pity the mentally ill, and our comfort keeps us from questioning the capitalist system which declares that we must have poverty in the midst of plenty, or wondering why we ourselves are no more than a month or two from homelessness.

America’s shameful surge in homeless children is caused by the fact that wages are NOT rising, low income housing is NOT being built, and the stock of available housing is being demolished or cannibalized by gentrifying speculators. Speculators can’t make money off stable neighborhoods, so the poorest have to leave wherever they are to make room for something else.

In California, the nation’s most populous state 34% of households are paying more than half their annual income for rent, and while the state’s minimum wage is $8 an hour, a 2 bedroom apartment at a third of annual income would require tripling the minimum wage to $25.78 an hour. The issue then, is poverty.

Millions of children are not suffering because their parents have suddenly become addicted, or neglectful or lazy or stupid. Their parents, many of whom are working as hard as they can, are simply not able to afford a roof over their heads. This is just capitalism. It may be a scandal, but it’s no surprise.

This happens to be just the way that “the economy” works when it’s “back on track.” It’s time to tear up those tracks.

Bruce A. Dixon lives and works in Marietta GA and can be reached at bruce.dixon(at)blackagendareport.com.

November 20, 2014 Posted by | Economics | | Leave a comment

EU trying to force Serbia into Russia sanctions club, says senior MP

RT | November 20, 2014

The EU’s attempts to coerce Serbia into joining anti-Russian sanctions are nothing but blackmail, says the head of the State Duma Foreign Affairs Committee.

“Presently the European Union is trying to force Serbia, which is not an EU member, to join their sanctions program. They are practically blackmailing Serbia: either it joins the sanctions against Russia or [the bloc] won’t see it as a country with a chance of joining the EU,” MP Aleksey Pushkov (United Russia) told reporters at a Thursday press conference in Moscow.

“The problem for Serbia is that in any case it has no prospects for joining the EU anytime soon. Even if they join the anti-Russian sanctions now, they would simply succumb to blackmailers and no one would accept them in the EU in one year for doing this,” he added.

The comments came after the EU’s Enlargement Commissioner Johannes Hahn said that Serbia would have to join EU sanctions against Moscow if it wants to be part of the European Union.

“Serbia has taken a legislative commitment within the EU accession negotiations to bring its positions in line with those of the EU. Harmonization includes the tough issues as well, like the tough issue of sanctions against Russia. We are expecting of Serbia to hold on to these commitments,” RIA Novosti quoted Hahn as saying.

This was a radical change of position as just days earlier, after a meeting with Serbian Foreign Minister Ivica Dacic, Hahn assured the press that the EU was not asking Serbia to impose sanctions against Russia. Back then, the commissioner acknowledged that such decisions were a sovereign matter of the Serbian government and the sanctions and Serbian membership in the EU were in no way connected.

Serbian Ambassador to Moscow Slavenko Terzić told Interfax on Thursday that for the moment his country had no intention of joining the sanctions, but in future the question could be raised at the Serbia-EU talks. “It is possible that Serbia would gradually begin to coordinate its position on various international issues with the one of the EU, but today our country is not ready to join the anti-Russian sanctions for many reasons, including because of the fact that Serbia and Russia are strategic allies,” the diplomat noted.

November 20, 2014 Posted by | Economics | , , | Leave a comment

Hungary to start South Stream construction in 2015 despite western pressure

RT | November 19, 2014

Hungary plans to break ground next year on its stretch of the South Stream pipeline to send natural gas from Russia to Europe. It is in defiance of EU and US calls to halt the project over frosty relations with Moscow.

One major reason Hungary has thrown its support into South Stream is the lack of a better option since the EU-backed Nabucco pipeline, which was supposed to deliver gas from Azerbaijan to Europe, failed.

“Nabucco will not be built and after nearly 10 years of hesitation, and especially in light of the Ukraine situation, we need to act. This is a necessity,” Hungarian Energy Minister Andras Aradszki told Reuters.

Earlier Hungarian Prime Minister Viktor Orban said that Washington is putting pressure on Budapest for cooperating with Russia over energy.

Gazprom’s $45 billion South Stream project will deliver about 64 billion cubic meters of gas to Europe, Russia’s biggest client, without unreliable passage through Ukraine.

Russia is Hungary’s biggest source of natural gas, and in 2013 the country bought 6 billion cubic meters. Hungary hopes the pipeline will be complete by 2017.

Ministers from Russia also confirmed construction will begin in 2015.

“Today the sides confirmed all their commitments signed under the South Stream project,” Russian Foreign Minister Sergey Lavrov said Wednesday after talks with his Hungarian counterpart Peter Szijjarto.

Hungary, along with Slovenia, Bulgaria, and Austria, still support the project despite EU attempts to stall it due to the political rift with Moscow, said Energy Minister Aradszki.

Proponents inside the EU argue the project is critical for EU energy security as it will provide a direct and reliable pipeline to Russia. Opponents argue that it is a step backwards for EU energy independence, as it deepens reliance on neighboring Russia.

On November 4, the Hungarian parliament approved the construction of the South Stream pipeline without European Union agreement.

The EU says South Stream will violate its Third Energy Package, which doesn’t allow one single company to both produce and transport oil and gas.

In September Hungary indefinitely halted gas shipments to Ukraine after securing a new deal with Russian gas major Gazprom, which the West saw as a move towards Russia’s orbit.

In 2013, Russia sold 162.7 billion cubic meters of gas to Europe and expects to sell at least 155 billion cubic meters this year.

READ MORE: Hungary under ‘great pressure’ from US over its energy deals with Russia

November 19, 2014 Posted by | Economics | , , , | Leave a comment

LIVING WITH INSANITY

Harper, Abbott, and Cameron at the Brisbane G-20

By John Chuckman | Aletho News | November 18, 2014

Canada’s Prime Minister, Stephen Harper, is reported by a spokesman, to have had the following exchange with Russia’s President Vladimir Putin during the Brisbane G-20 summit: “Well, I guess I’ll shake your hand, but I only have one thing to say to you: you need to get out of Ukraine.” Putin is said to have replied, “Impossible. Since we are not there.”

A graceless bit of diplomatic crudity from a truly graceless man, Stephen Harper, someone Canadians know has a history of underhanded practices at home, from introducing ugly personal-attack campaign advertising, using secretive and bullying tactics in parliament, failing to deal with corrupt practices by subordinates especially an American-style election scandal of robo-calls which sent some voters to the wrong polls, to having appointed several unbelievably incompetent and corrupt ministers. He is known for a ferocious temper in private, a very controlling man who grants his political associates absolutely no freedom of expression, and is reported by insiders as having on at least one occasion thrown a chair in a meeting. His silencing of Canadian government scientists from offering their opinions on issues in areas of expertise has been a simmering international scandal, as has his complete suppression of environmental issues.

Before Harper, Canada enjoyed for many decades a reputation for fairness and decency and intelligence in international affairs with statesmanship and openness exhibited by figures like Lester Pearson or Jean Chretien or Paul Martin. Harper has destroyed a great deal of that as he pursues a single-minded role as American junior partner in almost all things.

He completely abandoned Canada’s traditional policies of fairness and balance in the Middle East, literally shocking many Canadians at times with fervent outbursts about Israel, including suggestions that Canadian critics of Israel are anti-Semitic. He does this, as any astute political observer recognizes, to solicit increased campaign funds from Canada’s financially successful Jewish community, taking his cue from Republicans in the United States such as Newt Gingrich who alone received $18 million dollars from one wealthy supporter of Israel for his last nomination campaign in exchange for inserting into his speeches that there was no such thing as a Palestinian, an utterly insincere and ridiculous statement. Since Israel is no admirer of President Putin’s, he being too independent-minded and opposed to the American exceptionalism Israel tightly embraces and by which it prospers, this activity of Harper’s puts him in an anti-Russian frame of mind from the start.

Harper has made an annual photo-op journey to Canada’s North, always trying to appear to voters as the man most concerned with a future there of melting ice creating free access through the Northwest Passage. Ironically, he periodically mentions Russia as the nation he is most concerned about, but Canada’s recent history couldn’t make it clearer that it is the United States which represents the great threat to our Northern waters and shore. Everything from unauthorized American atomic submarine prowling to a giant American oil tanker passing to published American charts showing this future open water as international tells a pretty harsh story. But in every detail, Harper only pretends America is a great and non-threatening friend.

Harper is the single most obsessed leader in Canada’s history with pleasing, almost fawning over, the United States. Had the history of Canada, which included a great deal of disagreement and contention with the United States over its many imperialistic behaviors, included many leaders of Harper’s character, there quite likely would not be a county called Canada today.

So here are the demonstrated qualities of the man performing as Canada’s diplomatic ass at the G-20 in Brisbane. He demonstrates a genuinely anal-retentive temperament, is intolerant of differences of opinion, and embraces a willful blindness to the world’s greatest threat to peace, the United States in its self-appointed role as imperial arbiter among nations.

In case you wonder why a man like Harper even holds office in Canada, it is because the effective opposition was split with internal battles and because the last leader they selected in desperation following those battles was a man of no political intelligence or even experience and a totally unattractive personality to the public, Michael Ignatieff, someone who managed to do almost everything wrong. It also reflects a democratic deficit in our parliamentary structure where a party with just over 39% of the vote can be a parliamentary majority. So despite Canadians consistently being about 60% or higher inclined to somewhat progressive parties, Harper has had a free run at pole-axing the country’s traditional international reputation. Every day we come to be seen as a bit more like the deceptive and brutal American colony in the Middle East he embraces so closely.

We unfortunately live in a time utterly lacking statesmen in the West. I don’t know the detailed backgrounds of those other aggressive fools at the G-20, Abbott of Australia and Cameron of Britain, but I know they are both men who have lied exceedingly and been intimately involved with such nasty business as favors for the unsavory Rupert Murdoch empire. I can think of nothing which recommends either of them as statesmen. Indeed, they both, quite literally, kowtow to America.

Putin is head and shoulders above these men in intellect and focus, readiness to communicate clear views to the world, someone demonstrating considerable patience, and, from all evidence, someone notably free of the blowhard ideology which virtually characterizes Harper, Abbott, and Cameron.

Putin’s moves in Ukraine seem to me appropriate for dealing with a deliberately-induced crisis in an important neighboring country, and one with a long history of connections and associations. He has not invaded Ukraine, something which he could easily do were he so inclined. I suspect he has supplied weapons to East Ukraine, but that is something the United States does all the time, including supplying weapons to some of the most brutal groups and governments on earth, as it is right now doing in Syria, with secret night cargo flights out of Turkey to terrorist cutthroats. Just ask yourself what America would do about a comparable situation in Mexico: patience simply would not exist, and Mexico City would be quickly overrun by tanks.

The people of East Ukraine, Russian in background and sympathies, deserve protection as much as they deserve the huge amounts of emergency supplies Russia has supplied in a conflict owing its origin entirely to the covert acts of America. Had the coup-established government of Ukraine originally offered protection of Eastern interests, including language rights they openly tried suppressing, the story might have been different, but they did precisely the opposite, passing unfair laws, making threat after threat, and attacking their own citizens. Who wouldn’t rebel in that environment, including any of the states of the United States? How easily people forget past rebellions in the United States, the greatest of which was the Civil War, still the bloodiest war Americans ever experienced.

It is quite clear that the United States is responsible for destabilizing Ukraine. Its CIA funds have been invested into many unsavoury projects, perhaps most disturbing is its paying support to a collection of neo-Nazi groups ranging from extremist parties to violent militia forces, some of the very groups who have committed atrocities such as murdering many hundreds of civilians and some of whom actually march under swastika-like flags. It does seem more than a bit strange that men like Harper, Abbott, and Cameron implicitly support that kind of filthy work while charging Putin with dark acts, dark acts which are stated ambiguously and certainly never proved.

It is also clear that the United States has pressured all authorities involved to delay and obscure the investigation into the destruction of Flight MH17, and the only explanation for that can be America’s preventing, for as long as possible while the new coup-created government of Ukraine consolidates its position, the highly embarrassing finding that Ukraine in fact shot it down. The United States has said over and over it has evidence about the crash, yet it has never produced a scrap of it. Just as it never produced evidence for so many past claims from what actually happened on 9/11 to the assassination of a President.

The great irony of the G-20 summit in Brisbane is that its only substantial agreement concerned doing everything possible to promote growth in a world whose economy is dangerously stagnating, yet it wasted time and energy on America’s fantasy stories about Russia and Ukraine, insulted Russia’s President, and threatened in some cases further growth-suppressing sanctions. Nothing could be more contradictory and unproductive or, frankly, just plain stupid.

November 18, 2014 Posted by | Economics | , , , , , , , , , | Leave a comment

French government will not sign TTIP agreement in 2015

EurActiv | November 17, 2014

Matthias Fekl, France’s Secretary of State for Foreign Trade, has made it clear that France will not support the inclusion of the Investor State Dispute Settlement mechanism (ISDS) in a potential TTIP agreement. The ISDS is a point of heated debate between the EU and the United States EurActiv France reports.

Europe’s fears over the Transatlantic Trade and Investment Partnership (TTIP) are not abating, while America is beginning to show signs of impatience. Europe and the United States have reached a standoff in the TTIP negotiations, over the question of the Investor State Dispute Settlement.

This mechanism could give companies the opportunity to take legal action against a state whose legislation has a negative impact on their economic activity.

“France did not want the ISDS to be included in the negotiation mandate,” Matthias Fekl told the French Senate. “We have to preserve the right of the state to set and apply its own standards, to maintain the impartiality of the justice system and to allow the people of France, and the world, to assert their values,” he added.

German opposition to the ISDS mechanism is also very strong. The German Minister for Economic Affairs has often expressed his support for the trade deal with the United States, on the condition that it does not include the ISDS.

The disagreement over the ISDS has caused negotiations to stall. “The year 2014 did not see any great advances in the transatlantic agreement,” Fekl said during a speech to the French Senate.

In Brussels, the EU’s position on the Investor State Dispute Settlement mechanism became clear after the appointment of the new team of EU Commissioners.

In his speech to the European Parliament on 22 October, the new Commission President Jean-Claude Juncker said he would not accept any external limitations being placed on the member states’ ability to settle their own industrial disputes.

Negotiators from the United States are trying to move the talks forward, despite reluctance from the European Union.

During a visit to the European Parliament’s October plenary session in Strasbourg, Anthony Luzzatto Gardner, from the United States’ mission to the EU, insisted that the ISDS was an important clause in the TTIP negotiations.

“Our message to the people of Europe is not to remove it from the table, but to conclude the discussion process and to improve it,” he said.

A bad signal

“Removing the ISDS from the negotiations would give off a very bad signal. It would clear the way for the removal of other chapters of the negotiations,” he added.

The American negotiators are beginning to show frustration at the demonisation of these arbitration tribunals. “Investor State Dispute Settlements have never been, and will not be, a way for businesses to challenge legislation they do not agree with,” an American negotiator said in Paris.

The next cycle of negotiations is due to take place in December.

National parliaments remain vigilant

The European Commission’s mandate for the TTIP negotiations was set by the member states, and the American negotiators will have to satisfy not only the Commission, but also the national parliaments of the EU if an agreement is to be reached.

In France, Matthias Fekl reminded the Senate that the Transatlantic Trade and Investment Partnership was “a mixed agreement”. “It is the parliamentarians who will have the last word when the agreement is finalised,” he said, adding “I don’t think will be any time soon”.

Read:

Commission mulls TTIP minus investor arbitration

Commission swamped by 150,000 replies to TTIP consultation

November 18, 2014 Posted by | Economics | , | Leave a comment

Venezuela and Russia to Cooperate to Stabilize Price of Oil

teleSUR | November 17, 2014

Venezuelan Foreign Minister Rafael Ramirez met with the Russian Energy Minister Alexander Novak in order to discuss potential strategies the two countries could implement in order to stabilize world oil prices. The visit by Ramirez is part of his tour of oil-producing countries in anticipation of the meeting of Organization of the Petroleum Exporting Countries in Vienna on November 27.

In an interview with teleSUR, Ramirez stated that the two ministers agreed on the need for oil producing countries to have closer coordination in order to preserve the price of oil. “During our comprehensive meeting we exchanged points of view on things we could do in the immediate future in order for us to maintain the price of oil and preserve for our people the income from natural resources.”

The price of oil has dropped 30 percent since June, negatively affecting the amount of income going into government coffers. Ramirez stated that this drop in the price of oil can be attributed to several factors such speculators and the sanctions placed on Russia and Iran. He stated that there is an over-production as a result of oil extracted via the environment-damaging hydraulic fracturing, or fracking, method out of the United States, which has flooded the market with an extra million barrels of oils this year.

Ramirez earlier met with the Iranian Oil Minister, Biyan Namdar Zangane, the two agreed to present a proposal at the upcoming OPEC meeting that would stabilize the price of oil at $USD100 a barrel.

Venezuela and Russia are important oil-producing countries, together with Iran, their oil policies have important effects on the world oil market.


Russian and Venezuelan State Companies Close Oil Deal

teleSUR |November 17, 2014

Russian state oil company Rosneft has signed a deal with the Venezuelan government which will see the state entity import 1.6 million tonnes of oil and 9 million tonnes of oil derivatives from Venezuela’s state owned oil company, PDVSA.

The agreement was finalised in a meeting between Rosneft CEO, Igor Sechin, and Venezuela’s Foreign Minister, Rafael Ramirez, earlier on Monday. Ramirez is currently on an international tour, meeting with other oil exporting countries and particularly member-states of OPEC (Organization of Petroleum Exporting Countries) in order to stabilize the falling price of oil. Russia will be his last stop after visiting Algeria, Qatar and Iran.

“I would like to note the growing volume of cooperation in the oil sphere between Russia and Venezuela. Thanks to Venezuelan … minister of foreign affairs Rafael Ramirez, as well as PDVSA’s new CEO Eulogio del Pino for supporting the new projects,” commented Sechin.

Following the announcement, Venezuelan president Nicolas Maduro, also revealed that the two countries had agreed to coordinate a “special meeting” of OPEC and non OPEC countries as a result of Ramirez’s visit.

This is the second oil exportation agreement to be signed between Rosneft and PDVSA, with the first having been negotiated in the May 2014 St. Petersberg International Economic Forum (SPIEF). Russia and Venezuela already have a number of joint oil projects operating in Venezuela, as well as a series of other bilateral agreements.

November 18, 2014 Posted by | Economics, Solidarity and Activism | , , | Leave a comment

Lockheed Used Taxpayer Money to Lobby for more Taxpayer Money

By Noel Brinkerhoff | AllGov | November 15, 2014

In the world of federal contracting, it takes taxpayer dollars to win more taxpayer dollars, or at least that’s how Lockheed Martin sees things.

Lockheed Martin for years has been running one of the government’s most important nuclear research facilities, Sandia National Laboratories. Five years ago, its lucrative contract with the Department of Energy (DOE) was coming to an end, so Lockheed Martin started to lobby officials to win an extension.

That lobbying included using some of the money paid by DOE for Lockheed Martin to run Sandia. Under federal law, this is a big no-no. Contractors are explicitly forbidden from using taxpayer money to lobby for more contracting work. But Lockheed Martin did it anyway, claiming they were just trying to better inform DOE managers when it came time to decide whether to give them another contract. The company hired a firm run by former Republican Congresswoman Heather Wilson to make its case.

“This is, after all, how Washington usually functions,” R. Jeffrey Smith wrote at the Center for Public Integrity.

The Energy Department’s inspector general, Gregory Friedman, said in a report (pdf) that Lockheed Martin broke the rules. He called the company’s actions “highly problematic” and “impermissible.”

Lockheed Martin did get a new deal, but it was for two years and $7.7 billion. It had sought a longer extension to keep running Sandia.

To Learn More:

Alleged Attempts by Sandia National Laboratories to Influence Congress and Federal Officials on a Contract Extension (Department of Energy Inspector General) (pdf)

Nuclear Weapons Lab Used Taxpayer Funds To Obtain More Taxpayer Funds (by R. Jeffrey Smith, Center for Public Integrity)

IG: Energy Contractor and Ex-Lawmaker Lobbied Officials for No-Bid Contract Worth $2.4 Billion Per Year (by Josh Hicks, Washington Post )

Violence in Iraq Means Profits for Beechcraft, Lockheed, Raytheon and other Weapons Makers (by Steve Straehley, AllGov )

November 15, 2014 Posted by | Corruption, Deception, Economics, Militarism | | Leave a comment

Economic isolation breach of international law: Putin

Top 5 takeaways from Putin ahead of G20

RT |  November 14, 2014

Russian President Vladimir Putin (RIA Novosti/Mikhail Klementiev)

Russian President Vladimir Putin (RIA Novosti/Mikhail Klementiev)

Vladimir Putin says the G20 must address global imbalances together, and economic isolation, especially in the case of sanctions, which not only leads nowhere but is a crude violation of international economic law.

Here are the Russian president’s top takeaways ahead of the G20 summit being held in Brisbane, Australia from November 14-15.

G20 great for ground work, but decisions often just hot air

Putin believes the G20 is still a good and relevant platform for world leaders, however, decisions at the summit are often nothing but words. Decisions made there are only carried out when they are in line with the interests of certain global players, like the US.

Decisions are neglected if they don’t fit the agenda of an individual power, Putin told TASS ahead of the summit.

An example is when US Congress blocked the IMF quota, which was intended to enhance the role of developing economies and redistribute quotes. That move was counterproductive, Putin said.

“The very fact that US Congress has refused to pass this law indicates that it is the United States that drops out of the general context of resolving the problems facing the international community,” the president said.

“Everyone must understand that the global economy and finance these days are exceptionally dependent on each other,” Putin said.

US sanctions violate the very system they created

Sanctions levied against Russia are against the norms of international trade and the core principles of the G20, as they can only be introduced via the United Nations, Putin said.

Sanctions are “against WTO principles and the General Agreement on Tariffs and Trade, the GATT. The United States itself created that organization at a certain point. Now it is crudely violating its principles,” Putin explained

Interconnected economy: What hurts us hurts you

Sanctions against Russia have targeted the finance, energy and weaponry sectors of the economy. Russia’s retaliatory sanctions to ban agricultural imports are having a colossal ripple effect on jobs, social sectors, and growth.

This is especially pertinent to Europe, which is feeling the squeeze of the agricultural export ban to Russia, one its biggest markets.

“Everyone must understand that the global economy and finance these days are exceptionally dependent on each other,” Putin said.

Germany’s economic growth is an example of financial blowback from sanctions with Russia.

US-led trade pacts will create global imbalance

Putin believes that the creation of the 2 US-led trade pacts – one Transatlantic and the other Transpacific – will only create more global imbalance. The US-led Trans-Pacific Partnership (TPP) doesn’t include China or Russia.

“Of course, we want to get rid of such imbalances, we want to work together, but this can be achieved only through joint efforts,” Putin said.

New economic associations should complement existing institutions

All new emerging economic blocks like BRICS and the so-called ‘new G7’, which in addition to Brazil, Russia, India and China also includes Indonesia, Turkey and Mexico, should come as something complementary to the existing groups, Putin said.

According to purchasing power parity (PPP) BRICS nations have a combined GDP $37.4 trillion, more than the G7’s at $34.7 trillion, Putin said. However, its economic girth doesn’t give it the right to start running its own policy.

“And if we go and say, ‘No, thank you, we are going to do this and that here on our own, and you can do it the way you want it,’ this will only add to the imbalances,” Putin warned.

The Russian president also said that all regional integrations like the Russia-led Eurasian Economic Union with Belarus and Kazakhstan shouldn’t isolate, but complement, global institutions.

Full speech: Putin on G20: Russia sanctions contradict club principles

November 14, 2014 Posted by | Economics | , , , , , , , | Leave a comment

ILWU Struggles 1984-2010, The Struggle Continues

laborvideo

November 12, 2014 Posted by | Economics, Ethnic Cleansing, Racism, Zionism, Solidarity and Activism, Timeless or most popular, Video | , , , | Leave a comment

Russia to launch alternative to SWIFT bank transaction system in spring 2015

RT | November 11, 2014

Russia intends to have its own international inter-bank system up and running by May 2015. The Central Bank of Russia says it needs to speed up preparations for its version of SWIFT in case of possible ”challenges” from the West.

“Given the challenges, Bank of Russia is creating its own system for transmitting financial messaging… It’s time to hurry up, so in the next few months we will have certain work done. The entire project for transmitting financial messages will be completed in May 2015,” said Ramilya Kanafina, deputy head of the national payment system department at the Central Bank of Russia (CBR).

Calls not to use the SWIFT (Society for Worldwide Interbank Financial Telecommunication) system in Russian banks began to grow as relations between Russia and the West deteriorated over sanctions. So far, SWIFT says despite pressure from some Western countries to join the anti-Russian sanctions, it has no intention of doing so.

Ramilya Kanafina says the system will meet all the market requirements due to its security. A center for processing messages in SWIFT format is in the process of development. It is expected that all messaging options will be operating by December 2014, she added.

The National Payments Council, a non-profit partnership comprising members of the Russian national payment system, proposed establishing a Russian version of SWIFT 100 percent owned by Bank of Russia in September.

SWIFT, is currently one of Russia’s main connections to the international banking system, and if turned off, could hurt the Russian economy, in the short-term. Globally it transmits orders for transactions worth more than $6 trillion, and involves more than 10,000 financial institutions in 210 countries. According to SWIFT’s statute, the system has national groups of members and users in each country. In Russia it’s ROSSWIFT – the second biggest worldwide SWIFT association after the US.

November 11, 2014 Posted by | Economics | , , | Leave a comment