As global leaders struggle to rescue their nations from economic breakdown, the legitimacy of the dollar as the world’s reserve currency is under attack. Perhaps the problem lies with the Fed.
A large part of the “super” in the American superpower is based on the modern creed of liberal democracy, which serves as the motor of free-market capitalism. And the lubricant that keeps this colossal machine humming at full speed 24/7 is the US dollar. So before we risk any conjectures on the future prospects of America’s versatile banknote, which presently serves as the ‘world’s reserve currency,’ perhaps we should know more about who controls it.
By FRANKLIN LAMB
While on the surface the pro-US team here did preserve its ‘majority’ the Hezbollah led opposition actually won the election by nearly ten percent of the popular vote. Of approximately 1,495,000 votes cast on June 7, 815,000 voted for the National Lebanese Resistance led by Hezbollah while 680,000 voted for the March 14 government parties.
As Lebanon’s new Prime Minister, Saad Hariri labors to put together a coalition Cabinet, Hezbollah is currently stronger politically in Lebanon than it has ever been. The Party can largely determine the construction of the next Lebanese government and insist on key cabinet posts going to its allies, as it prefers keep a low profile and influence policy through quiet consultation rather than threats and muscle flexing.
Gaza/USA- On June 30, 2009 around 3:30 PM, 23 miles off the coast of Gaza, Israeli Naval Forces attacked and boarded the Free Gaza Movement boat, the SPIRIT OF HUMANITY and abducted 21 human rights workers representing 11 countries.
Noble laureate Mairead Maguire was onboard for her second time as was former U.S. Congresswoman Cynthia McKinney who just prior to her kidnapping remarked, “This is an outrageous violation of international law against us. Our boat was not in Israeli waters, and we were on a human rights mission to the Gaza Strip. President Obama just told Israel to let in humanitarian and reconstruction supplies, and that’s exactly what we tried to do. We're asking the international community to demand our release so we can resume our journey.”
A Three Part Series Part 1
In the wake of Felipe Calderon’s surprising electoral win over Andrés Manual Lopez-Obrador in 2006 Presidential Elections, demonstrators protesting alleged election fraud occupied the center of Mexico City from July through December. On three occasions, crowds of over one million were reported. Image: Erasmo Lopez
"Se requiere que las ciudadanos no estén ausentes ante una clase política que, desde el punto de vista ciudadano, no ha respondido y claramente ha fallado," dijo el Presidente de la República. Sociedad civil confronta a los poderes de la Unión El Universal, June 25, 2009
Translation: "It is necessary that the citizens not be seated behind a political class which, from the citizen’s point of view, clearly has failed," said the President of the Republic. (President of Mexico, Felipe Calderon El Universal, June 25, 2009)
Every once in a while, a politician tells the unvarnished truth. It's difficult to recall the last time it happened. Outgoing president Dwight D. Eisenhower's 1961 warning of the dangers of the U.S. military-industrial complex comes to mind. Ike told the truth but too late to matter since he was leaving power.
Iran is troublesome not because it’s any more dictatorial than its neighbours but because it’s less submissive.
The mainstream media narrative of events unfolding in Iran has been set out for us as clear as a fairytale: an evil dictatorship has rigged elections and now violently suppresses its country's democrats, hysterically blaming foreign saboteurs the while. But the Twitter generation is on the right side of history (in Obama's words), and could bring Iran back within the regional circle of moderation. If only Iran becomes moderate, a whole set of regional conflicts will be solved.
I don't mean to minimise the importance of the Iranian protests or the brutality of their suppression, but I take issue with the West's selective blindness when it gazes at the Middle East. The "Iran narrative" contains a dangerous set of simplicities which bode ill for Obama's promised engagement, and which will be recognised beyond the West as rotten with hypocrisy.
Volunteer Brings Students in Washington Face-to-Face with Kenyan Poverty
June 26, 2009, Washington, DC: "You are sick and it is the weekend. You have a fever and you're sweating and vomiting so you fear you have malaria. You need medical attention. All the money you have is what is in your pocket, a total of $3.59. You never went to school so you do not know how to read or write. You live in the Kibera slums."
This was one scenario played out Tuesday on a leafy Washington campus, as students in the summer program at the Washington International School struggled to understand life on the edge for children in Nairobi's notorious slums.
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