Sraid Ken Sarowiwa go brath!

Thirteen years ago today, on November 10th 1995, nine men from Ogoni land were hanged at Port Harcourt prison Nigeria. They had been tried in a military court by the Nigerian dictatorship. One of the men, the famous human rights campaigner Ken Saro Wiwa had been a particular thorn in the side of the Shell oil company, which found itself unable to operate in parts of the Niger Delta because of the work organisating people to peacefully resist against their destructive activities.

In stark proof of who controlled Nigeria at the time, his family had been told by Shell executives that he would be spared if he would help the company. Saro Wiwa preferred to die with honour.

Related Links: Who is Ken Saro-Wiwa? Ken on indy.ie Shell 2 Sea

This is the second of a series of articles covering the financial and money markets from a critical perspective.

In 'Financial Weapons of Mass Destruction', Paul Bowman examined the derivatives market and promised that the succeeding article would cover the 'story of the historical development of successive regimes of global financial orders' and would explain the role of the Eurodollars market 'in undermining the Keynesian Bretton Woods system'.

However, in the interests of space and relevance, I will only tell the story of the historical development of the regime of global financial order under US hegemony. I will begin by examining how the centre of capital accumulation shifted from Europe to the US in the first half of the twentieth century, and how following World War II the global financial order became centred around the US through the Bretton Woods system.

I will then look at how the Bretton Woods System was undermined, concentrating as much on the role of workers’ militancy as on the role of the Eurodollars market. After considering the response to the crisis of Bretton Woods, I'll look at the Clinton boom bringing us up to the current situation of the US’s current heavy dependence on foreign borrowing.

Shell Plunder

This video represents the many people not given a voice in the mainstream media. They have been denied a voice mainly because of their dissenting views about the Corrib gas project in its current form. There are interviews with many people who have suffered both personally and financially for daring to oppose the oil and gas industry. This industry has been supported by the various intimidatory and violent methods used by the Garda. The mainstream media has consistently misrepresented the facts, and has failed to report human rights abuses taking place in Mayo. It has instead tried to demonise anybody who goes against their neo-liberal view-point on how Ireland should be organized and structured.

Most of the interviews were filmed over the last month. Thanks to all of the people who generously gave up their time and energy to make this no budget documentary.

This is the first part of an ongoing documentary about the Corrib Gas Project.

Related Links:
Spinwatch - monitoring PR and Spin
Art not Oil - For creativity, climate justice, and an end to the oil industry sponsorship of the arts.
Shell to Sea
Shell Ireland - Working with our neighbours

War of Wealth (CC image from Flickr)

Kieran Allen has just written an extensive article on the current global financial crisis. Here is his opening sentences on it.

Most people are amazed to witness a new Wall St crash, when the spectacle of the 1929 crash was supposed to have vanished forever.

For the past thirty years mainstream economists claimed that the market worked perfectly provided there was no state interference or strong trade unions. ‘You cannot buck the market’ was repeated like a mantra against anyone who dared to ask for higher wages, better environmental controls or a more developed welfare state. ‘Market forces’ were seen as wise spirits who knew best about how to run an economy. No one knew who or what they were but they appeared to work anonymously behind the scenes to make everything right. In almost every country, people were told to leave matters to these ‘market forces’ and not to seek too much regulation. In reality, these ‘market forces’ were gigantic financial houses which could move money around the globe at will.

Today this mythology has been shattered.

Related Links: Why No Alternative to the $700bn? | Emergency Legislation Introduced to Underwrite Irish Banks | Low yields turn off Irish Property Investors

Hunger Strike Explanation

An update on the situation as of this morning in occupied Erris

After a truly momentous day in Erris yesterday,things are much calmer this morning. The Solitaire has been confirmed to be stationery in Killybegs Co Donegal.

Police presence in the area is still very heavy this morning although the general atmosphere (aside from at the compound gates) is slightly less tense. Maura Harrington continues her courageous hunger strike at the compound gates with round the clock solidarity from both locals and the camp.