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Showing posts with the label financial capitalism

Fifty years from Nixon's shock: The moment the gates of hell opened to release neoliberalism and financial capitalism

globinfo freexchange   Half century passed from Richard Nixon's economic reform. The "Nixon shock" included " the unilateral cancellation of the direct international convertibility of the United States dollar to gold. Although Nixon's actions did not formally abolish the existing Bretton Woods system of international financial exchange, the suspension of one of its key components effectively rendered the Bretton Woods system inoperative. While Nixon publicly stated his intention to resume direct convertibility of the dollar after reforms to the Bretton Woods system had been implemented, all attempts at reform proved unsuccessful. By 1973, the Bretton Woods system was replaced de facto by the current regime based on freely floating fiat currencies. "   And so, one of the worst presidents in the history of the United States opened the door to the domination of financial capitalism and the correlated destructive neoliberalism.    Two years after Nixon's s

"The prices are going up quickly": Bulgarian PM reveals huge scandal around the negotiations between EU and Pfizer for the price of the COVID-19 vaccine

globinfo freexchange   It should be a big headline in every major media outlet. Yet, in the era of corporate feudalism (where the mainstream media are bought by big corporations), this story has passed almost unnoticed, despite the fact that it has been brought to light by a Prime Minister of a European country.   Almost buried in a "corner" of the Reuters website, the short report reveals that according to the Bulgarian PM Boyko Borissov, the EU is about to make a new deal with Pfizer-BioNTech for additional doses of the COVID-19 vaccine, at a significantly increased price:   The bloc is seeking the new supply deal with the two companies for up to 1.8 billion vaccines, of which is 900 million optional, to be delivered in 2022 and 2023, Reuters reported on Friday. Borissov, speaking on Sunday, said the EU was negotiating the new contract at a price of 19.5 euros ($23.22) per dose. “The prices are going up quickly,” Borissov said during a trip to a village in southern Bulga

The liberal machine tests Americans, confirms major divisions in favor of the capitalist elites

globinfo freexchange   A recent CBS News poll confirms major divisions among the US working class, something that serves perfectly the capitalist elites. One of the most interesting and disturbing findings shows that Americans overwhelmingly believe that the "biggest threat to America's way of life" is "other people in America", by 54%. That is, more than half of the other reasons combined. On the contrary, only 20% believes that "economic forces" are threatening the American way of life and this is a huge disappointment because after all these blatant systemic failures (especially in the last two decades), most Americans are still unable to identify the root of the problem, which is neoliberalism and financial capitalism. We can assume that this picture satisfies the capitalist elites. And that's because it shows that the corporate media are still able to distract Americans from the real problem by dividing them, through the old (and tested numer