By David Glenn Cox
Information Clearinghouse — November 12, 2008
We, as a country, seem to have little problem saving the wealthy from the clutches of poverty. We’ll bail out banks and insurance companies, mortgage funds. The [...]

Ask about Barack Obama’s natural constituencies, and you might hear that he’s the first black with a viable shot at the White House; or about his Kenyan father and his childhood in Indonesia; or the youthfulness of his followers; or the millions of Oprah junkies swooning over his candidacy. What you might not hear is that the Illinois senator, who made history Thursday by winning the Democratic caucus in Iowa, has made Jewish leaders an early stop at every stage in his political career.

Adnan Khan

Khilafah.com - Monday, 27 October 2008 19:36

As the financial crisis that has engulfed the world gets worse free market ideologues are finding it more and more difficult to defend Capitalism. State intervention the ultimate taboo of the free market has become their best friend throughout the crisis. As each government [...]

by John Hall

Global Research, October 27, 2008
The 150th. (Extraordinary) Meeting of the OPEC Conference
Vienna, Austria, 24th. October, 2008
MARKET IS OVER SUPPLIED WITH OIL – GLOBAL DOWNTURN NOT CONNECTED TO HIGH OIL PRICE!
OPEC met today in an emergency session – branded the 150th. (Extraordinary) Meeting – and announced that production from its members would reduce by [...]

America is dying. It is self-destructing and bringing the rest of the world down with it.

Often referred to as a sub-prime mortgage collapse, this obfuscates the real reason. By associating tangible useless failed mortgages, at least something ‘real’ can be blamed for the carnage. The problem is, this is myth. The magnitude of this fiscal collapse happened because it was all based on hot air.

The financial crisis engulfing the world continues to claim more victims after is first anniversary, each passing day brings news of further bankruptcies and the financial market continue to seesaw with billions of dollars are being wiped of the market almost daily.

The crisis which was essentially an American problem has spread beyond the US financial and banking sectors and has now engulfed the world potentially bringing to a halt the world economy.

Bank runs are not a new phenomena, inherently they are the product of Western finance, of which one of the mainstays is the use of fractional-reserve banking.

Fractional-reserve banking is the practice where banks only hold a fraction of their deposits in reserve, and use the remainder as capitol for loans - supposedly an important function that allows for the expansion of economies. Though universally accepted across the globe as a part of modern banking, fractional-reserve banking is no more than fraud and theft.

The turbulence which has rocked the world’s financial markets, and the extraordinary measures which western governments have taken in recent weeks, have raised serious questions about the future of Capitalism. Many people are asking if we are on the verge of a systemic collapse from which there is no return. Others, including the author of the article below claim this is a momentary problem from which the markets will recover.

INTERVIEW WITH NOBEL LAUREATE MUHAMMAD YUNUS

SPIEGEL ONLINE - 10/10/2008
Nobel Peace Prize laureate Muhammad Yunus says that greed has destroyed the world’s financial system. SPIEGEL ONLINE spoke with him about the profit motive, social consciousness and what should be done to end the financial crisis.

<!–
OAS_RICH(’Middle2′);
// –>

SPIEGEL ONLINE: Mr. Yunus, for years you have been preaching [...]

By Steve Scherer
Bloomberg - Oct. 10
Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world’s financial markets while they “rewrite the rules of international finance.”
“The idea of suspending the markets for the time it takes to rewrite the rules is being discussed,” Berlusconi said today after a Cabinet meeting [...]