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Monetary Blowback: How U.S. Wars, Sanctions, and Hegemony Are Threatening the Dollar’s Reserve Currency Dominance

Published Tue, 25 Feb 2025 09:59:05 GMT

This week, strategists at JPMorgan, the biggest U.S. bank, warned there are signs of “de-dollarization” around the world. Dedollarization is the push by countries, including Brazil, Russia, India, China, South Africa, and others, to move away from the U.S. dollar as the world’s primary reserve currency. This move poses a big challenge to U.S. economic hegemony. This week on Intercepted, Canadian businessperson and mining financier Frank Giustra joins Jeremy Scahill and Murtaza Hussain to discuss the prospective move toward nations’ dedollarization. Giustra breaks down the history of how the U.S. dollar became the world’s primary reserve currency. Scahill, Hussain, and Giustra then discuss the different nations and the political and economic motivations to dedollarize and how the U.S. government may respond in order to maintain its economic hegemony.Transcript coming soon.The post Monetary Blowback: How U.S. Wars, Sanctions, and Hegemony Are Threatening the Dollar’s Reserve Cu...

Is it a ‘skip’ or a ‘pause’? Federal Reserve won’t likely raise rates next week but maybe next month

Published Tue, 25 Feb 2025 09:59:05 GMT

WASHINGTON (AP) — When an increasingly fractious committee of Federal Reserve policymakers meets next week, Chair Jerome Powell will need to forge a consensus. One group of Fed officials would like to pause their relentless campaign of rate increases after 10 straight hikes to allow time to look around and assess whether higher borrowing rates are slowing inflation.But a second group worries that inflation is still too high and thinks the Fed should continue hiking at least once or twice more — beginning next week. So how will Powell achieve an accord between the two?By turning what might normally be considered a “pause” into a “skip.” Whereas a “pause” might suggest that the Fed won’t necessarily raise its benchmark rate again, a “skip” implies that it probably will — just not now. When Powell speaks at a news conference next week, he will likely make clear that the Fed’s key rate — which has elevated the costs of mortgages, auto loans, credit card and business borrowing — ma...

Ivan Menezes, former boss of drinks giant Diageo, dies after short illness at 63

Published Tue, 25 Feb 2025 09:59:05 GMT

LONDON (AP) — Ivan Menezes, one of the most influential figures in the global drinks industry over the past few decades and who was widely admired for his commitment to diversity, has died following a short illness. He was 63. Menezes was until earlier this week chief executive of Diageo, the drinks giant that owns popular brands such as Johnnie Walker whisky, Smirnoff vodka and Guinness. In a statement Wednesday, Diageo confirmed Menezes’ death, two days after announcing that he was stepping down after developing complications while recovering from emergency surgery on an ulcer. Menezes was due to step down as chief executive at the end of the month after 10 years at the helm of the company, which has a market value on the London Stock Exchange of 75 billion pounds ($93 billion). Diageo also accounts for around 10% of the U.K.’s total food and drinks exports.“Ivan was undoubtedly one of the finest leaders of his generation,” said chairman Javier Ferran. “Ivan was ...

“Tiempos diferentes requieren un liderazgo diferente’: el exvicepresidente Mike Pence anuncia su aspiración a la Casa Blanca

Published Tue, 25 Feb 2025 09:59:05 GMT

(CNN) — El exvicepresidente de Estados Unidos Mike Pence anunció este miércoles que aspirará a las elecciones presidenciales, preparando una batalla por la nominación republicana con su antiguo jefe, Donald Trump.En un video de presentación publicado antes de su arranque de campaña más tarde en Iowa, Pence se presentó como un republicano de Reagan que busca devolver a Estados Unidos a los principios conservadores.“Sería fácil quedarse al margen. Pero yo no me crié así”, dice en el video. “Por eso hoy, ante Dios y mi familia, anuncio que me presento a la Presidencia de Estados Unidos”.La candidatura presidencial de Pence lo pone en una posición única, ya que se convierte en el primer vicepresidente de la historia moderna que desafía a su antiguo jefe, actual favorito para la nominación del Partido Republicano en 2024. Aunque fue un leal segundo al mando de Trump, Pence rompió con él al negarse a anular los resultados de las elecciones de 2020 y presidir ...

Looking back on the last time a senior British royal testified in court — in the 19th century

Published Tue, 25 Feb 2025 09:59:05 GMT

When Prince Harry entered the witness box in his lawsuit against the publisher of the Daily Mirror, he became the first senior member of the royal family to testify in court since the late 19th century.Queen Victoria’s eldest son, Prince Albert Edward, testified twice, in the divorce proceedings of a woman with whom he was accused of having an affair with (he denied it) and later in a slander case involving a man accused of cheating at cards.He was known at the time as the Prince of Wales and went on to become King Edward VII. He was the great-grandfather of Queen Elizabeth II, Harry’s grandmother.Here are excerpts of three Associated Press stories from the 1891 cheating case, which the press at the time referred to as the baccarat scandal.Though the prince was not accused of wrongdoing, the counsel for Sir William Gordon Cumming, the plaintiff who sued for slander after he was accused of cheating, tried to make the case a referendum on the prince’s behavior. One story noted t...

Officer shot, suspect killed in Denver neighborhood

Published Tue, 25 Feb 2025 09:59:05 GMT

DENVER (KDVR) — A Denver Police officer was shot and a suspect was killed in a shooting in the Jefferson Park neighborhood.The Denver Police Department tweeted about the shooting just before 5 a.m. Wednesday. The officer-involved shooting happened in the 2600 block of North Zuni Street between the Quality Inn and the Shell gas station.According to DPD, the officer and the suspect were both taken to a local hospital. The officer is being treated for a non-life-threatening gunshot wound. The suspect was pronounced dead.DPD is currently investigating and has not released information on what led up to the shooting.FOX31 has a crew on the way and this story will be updated as more information becomes available.

Denver weather: More afternoon storm chances

Published Tue, 25 Feb 2025 09:59:05 GMT

DENVER (KDVR) — Showers and storms are back in the forecast for the Front Range Wednesday with mild highs in the middle 70s in the Denver weather forecast. Weather today: Evening storm chancesAfter some pockets of morning sunshine, the Front Range will see chances for showers and storms through the late afternoon and early evening hours. Why is Colorado stuck in a wet, stormy weather pattern? Highs on Wednesday will reach the middle 70s with light winds.Pinpoint Weather: Daily forecast on June 7. Flash flood watches are in effect in the high country, especially around the burn scars. Williams Fork and East Troublesome burn scars have a moderate chance to see flooding Wednesday.Pinpoint Weather: Flooding chances near burn scars on June 7. Weather tonight: More cloudsClouds from the evening rain will linger overnight. Temperatures dip into the low 50s with light winds Wednesday night.Pinpoint Weather: Overnight forecast on June 7. Looking ahead: Storm chances continueThursday has t...

MORE STORMS IN STORE FOR SOUTH FLORIDA

Published Tue, 25 Feb 2025 09:59:05 GMT

Happy Wednesday, South Florida!Hopefully everyone has had a great week so far despite the fact that half of the week has been quite soggy and stormy. South Florida saw a brief break from the rain on Monday, but then Tuesday quickly transitioned to an unsettled day as several rounds of rain and thunderstorms pushed through our area. This morning it was evident that the weather pattern remains an active one as showers and thunderstorms were already lifting south to north across some of our coastal areas. And after a warm and muggy start this morning with temperatures in the upper 70s and lower 80s, steamy temperatures are in the forecast through the remainder of the day.Moisture will be on the rise over the area again today. And while today we will have some quiet time, downpours and thunderstorms return to the forecast for the afternoon yet again. An upper level disturbance in the Gulf of Mexico will continue to help funnel in moisture across our area. So while some of us may see som...

Dog hops over wall at Minneapolis shelter to be with puppy pal

Published Tue, 25 Feb 2025 09:59:05 GMT

MINNEAPOLIS (WCCO) — A cement wall wasn’t enough to keep a pair of pups apart.Video from inside Minneapolis Animal Care and Control (MACC) shows a brown dog climb over the wall at the shelter so she could hang out with her buddy in the next kennel over.Brenda and Linda came in at the same time — and now they’re inseparable. And MACC hopes the pair leave together, too.“Me and another employee were walking through the kennels, and we walked by and we had to like triple take, like, what’s going on, because two pitties came to the front of the kennel to greet us, and we were like, ‘What?'” said MACC’s Madison Weissenborn.Security camera footage cracked the case.“We knew that they had to be together,” Weissenborn said.Brenda climbed her way over the wall to join her pal, Linda.“We rewatched the video that we have, and I about died. I was like this is truly magnificent,” she said.The pair came in as strays to MA...

Opening statements set for today in the trial of Parkland school resource officer who stayed outside during shooting

Published Tue, 25 Feb 2025 09:59:05 GMT

(CNN) — The trial of the former school resource officer who remained outside a Parkland, Florida, high school five years ago while 17 people were gunned down inside is scheduled to begin in earnest Wednesday, as the jury hears prosecutors and defense attorneys give their opening statements.The state has accused retired Broward Sheriff’s Office Deputy Scot Peterson of failing to follow his active shooter training by staying outside Marjory Stoneman Douglas High School on February 14, 2018, taking cover for at least 45 minutes while a former student carried out what remains the deadliest high school shooting in US history. Among the slain were 14 students and three staff members; 17 others were injured.The case highlights the expectations for officers responding to active shooters as the country faces a seemingly endless scourge of gun violence, with schools like those in Parkland; Uvalde, Texas; and Newtown, Connecticut, etched in public memory as the scenes of some of the most devas...