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BRICS grows, adding 13 new ‘partner countries’ at historic summit in Kazan, Russia
BRICS held a summit in Kazan, Russia in October 2024, where it expanded with 13 “partner nations”, after adding four new members. These are the most important takeaways from the historic meeting.
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BRICS plans ‘multi-currency system’ to challenge U.S. dollar dominance: Understanding Russia’s proposal
The BRICS Cross-Border Payment Initiative (BCBPI) will use national currencies, instead of the U.S. dollar. Russia’s finance ministry and central bank released a report detailing plans to transform the international monetary and financial system.
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Cold War II: U.S. Congress passes 25 anti-China laws in 1 week, funds propaganda campaign
In what it called “China Week”, the U.S. House of Representatives approved 25 anti-Chinese laws over a few days, in bipartisan votes. Cold War Two fervor is reaching fever pitch in Washington.
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How U.S. Big Tech monopolies colonized the world: Welcome to neo-feudalism
U.S. Big Tech corporations are like the feudal landlords of medieval Europe. These Silicon Valley monopolies own the digital land that the global economy is built on, and are charging higher and higher rents to use their privatized infrastructure.
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As stock market crashes, is U.S. facing new financial crisis? Economist Michael Hudson explains
The stock market crashed on August 5, in a new “Black Monday”. What caused it? Is the USA on the verge of a new financial crisis? Ben Norton is joined by economist Michael Hudson to discuss the extreme volatility.
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The Global South in the Arctic North: Indigenous nations struggle for sovereignty
Indigenous nations fight for sovereignty in the Arctic regions of North America and Europe. Connecting their struggle to Palestine, they are resisting NATO militarization — as the US Army pledges to “regain Arctic dominance”.
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China is ‘world’s sole manufacturing superpower’, with 35% of global output
China’s state-led economic development model and robust industrial policy has transformed it into what an influential European think tank calls “the world’s sole manufacturing superpower”, making up 35% of global gross production–more than the 9 next largest manufacturers combined.
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Global 1% own 43% of financial assets, 5 richest billionaires doubled wealth while 5 billion workers got poorer
The world’s richest 1% own 43% of global financial assets, and the wealth of the top five billionaires has doubled since 2020, while 60% of humanity got poorer, according to a report by Oxfam.
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U.S. troops are occupying Syria’s oil fields. Congress refuses to withdraw them
The U.S. military has illegally occupied Syrian sovereign territory since 2014, preventing Damascus from accessing its own oil and wheat fields. The Senate voted 13-84, rejecting a resolution to withdraw U.S. troops.
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U.S. blocks Gaza peace proposal at UN for 3rd time, holding world hostage
The U.S. government has paralyzed the United Nations, voting against the rest of the world and preventing peace in Gaza by vetoing three different resolutions in the Security Council. Meanwhile, Washington continues giving weapons to Israel.
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West sabotaged Ukraine peace deal with Russia, admit Zelensky official and Germany’s ex leader
Russia wanted to sign a peace deal with Ukraine in March 2022, but NATO countries sabotaged it, according to Germany’s former Chancellor Gerhard Schröder and the parliamentary faction leader of Zelensky’s political party, Davyd Arakhamia.
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U.S. opposes peace as Israel ethnically cleanses Palestinians, waging war on ‘entire nation’ of Gaza
Israel is ethnically cleansing Palestinians, trying to force them out of Gaza into Egypt’s Sinai Peninsula. The U.S. and EU support Netanyahu’s scorched-earth war on the “entire nation”, and the State Department ordered diplomats not to call for peace, de-escalation, or a ceasefire.
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How could a BRICS+ bank and settlement currency work? Economist Michael Hudson explains
Economist Michael Hudson details how BRICS could create a mutual settlement currency for payment imbalances among central banks and build an alternative to the financialized neoliberal model of the dollar/NATO bloc.
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Poverty is growing in Puerto Rico, under U.S. colonialism
Poverty is rising in one of the world’s oldest colonies: In Puerto Rico, 41.7% of people, including 57.6% of children, live in poverty. This is nearly four times the U.S. rate. And Puerto Rican workers are getting poorer even while unemployment falls.
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U.S. pressures Saudi Arabia to sell oil in dollars, not Chinese yuan, amid Israel negotiations
As part of negotiations for Saudi Arabia to recognize Israel, the United States is demanding that Riyadh keep pricing its oil in dollars, not China’s renminbi or other currencies.
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Atomic bombing of Japan was not necessary to end WWII. U.S. gov’t documents admit it
U.S. government documents admit the atomic bombing of Hiroshima and Nagasaki was not necessary to end WWII. Japan was on the verge of surrendering. The nuclear attack was the first strike in Washington’s Cold War on the Soviet Union.
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Burkina Faso’s new president condemns imperialism, quotes Che Guevara, allies with Nicaragua, Venezuela, Cuba
Burkina Faso’s new President Ibrahim Traoré has vowed to fight imperialism and neocolonialism. Pledging a “refoundation of the nation”, invoking revolutionary leader Thomas Sankara, and quoting Che Guevara, his government has allied with Nicaragua, Venezuela, and Cuba.
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Corporate profits were biggest driver of inflation in Europe, IMF admits
Rising corporate profits have caused 45% of inflation in Europe, compared to 40% for rising import prices and just 15% for workers’ wages, according to research by IMF economists.
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U.S. legally owes Nicaragua reparations, but still refuses to honor 1986 Int’l Court of Justice ruling
37 years after a 1986 International Court of Justice ruling, the United States still refuses to pay Nicaragua the reparations it legally owes. Today, the Nicaraguan government is demanding that the United Nations take action.
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U.S. woos India’s far-right PM Modi to help wage new cold war on China
The U.S. government is trying to divide the BRICS bloc and recruit India for its new cold war on China. Biden doesn’t care that far-right Prime Minister Modi is closely linked to fascistic Hindu-supremacist groups that violently oppress minorities.