Reading
Narrow banking is a concept for a bank that holds 100% reserves against deposits. It attracts people who are deeply concerned about the symbolic content of “money” on both the left (e.g. Positive Money) and the free market right (the Chicago Plan). Devotees of narrow banking are happy to talk your ear off about how their plans work, so I leave finding out more as an exercise as a reader. I just want to focus on the core principle: they want banks to not take risks lending deposits, so that “money” remains “money”: a numeric entry that corresponds in a 1:1 fashion to a claim on a “monetary asset,” like a gold coin or claims on specific gold coins, and not a messy credit relation....
Brian Romanchuk
As geopolitical spaces open for countries in the Global South more countries are daring to challenge the hegemony of colonial powers, including Israel.
The post Israel’s Humiliating Expulsion from AU Summit Exposes Its Failed Diplomacy in Africa appeared first on MintPress News.
In the latest IMF Finance and Development journal (March 2023), there is an interesting article by the former governor of the Bank of Japan, Masaaki Shirakawa – It’s time to rethink the foundation and framework of monetary policy. It goes to the heart of the complete confusion that is now being demonstrated by central bank policy makers. With their ‘one trick pony’ interest rate attacks on inflation, not only have they been inconsequential in dealing with that target (the so-called price stability responsibility), but, in failing there, they have undermined the achievement of the other central bank target (financial stability) and probably worsened the chances of sustaining the third target (full employment). Sounds like a mess – and it is. We are witnessing what happens when Groupthink finally takes over an academic discipline and the policy making space. Blind, unidirectional policies, based on a failed framework, steadily undermining all the major goals – that is where we are right now.
The Biden Administration continues to conceal its responsibility for the destruction of the Nord Stream pipelines.
The post Seymour Hersh: The Cover-Up appeared first on scheerpost.com.
Russia's defense minister says the move brings the world closer to a 'nuclear collision,' Putin vows to respond.
The post UK to Give Ukraine Depleted Uranium Shells Despite Russian Warning appeared first on scheerpost.com.
Iraq Plus 20 Part II
The post Dennis Kucinich: From Iraq Into the Abyss? appeared first on scheerpost.com.
By Dean Baker / Beat the Press (CEPR) An item in Ezra Klein’s NYT column yesterday really grabbed by attention. Ezra cited a Wall Street Journal column that claimed that the Federal Reserve Board’s stress tests would not have detected Silicon Valley Bank’s (SVB) problems, because its stress tests did not consider interest rate risk. This struck me as […]
The post ‘Regulation’ Is Not a Mantra appeared first on scheerpost.com.
No matter how much evidence Robert Parry produced over the years poking holes in the official story, the establishment media declined to re-examine the case or treat it seriously, writes Nat Parry.
The post NYT Catches up to Parry But Still Falls Short on October Surprise appeared first on scheerpost.com.
By Patrick Lawrence / Original to ScheerPost There are many things to say about the International Criminal Court’s decision to issue an arrest warrant for Vladimir Putin on charges that the Russian president directed the abduction and deportation of thousands of children from eastern Ukraine in the early months of the intervention that began a […]
The post Patrick Lawrence: Biden and the ICC: ‘A New Level of Farce’ appeared first on scheerpost.com.
You are teaching nine sections of comp classes at four universities, have no health insurance or retirement savings, and barely make ends meet. What happens if conditions suddenly become even more unstable? Enrollment dips, a department merges, or your tiny liberal arts college gets bought by a multinational conglomerate and replaces your course with a semester-long Kahoot quiz? It’s essential to be prepared as you’re just one paycheck away from needing to scavenge for existence in the wild. Here are some survival tips, should you be so unfortunate.
1. Pack for Emergencies
Always have a “go-bag” ready with the bare necessities: some bottled water, a book of matches, and a Tupperware container filled with the stale Panera bagels left in the faculty lounge from the professional development session you didn’t attend.
2. Leave Plans with a Friend
Make sure your friends know what forgotten, grown-over forest patch you’ll call home. If you have no friends because you spend ninety hours a week grading papers, then inform one of the seven people you share an office with instead.
Iraqi journalist Ghaith Abdul-Ahad joins Jeremy Scahill and Murtaza Hussain to discuss the impact and fallout of the 2003 U.S. invasion of Iraq.
The post The Many Lives and Deaths of Iraq, as Witnessed by Ghaith Abdul-Ahad appeared first on The Intercept.