Posted by seumasach on May 1, 2013
Paul Craig Roberts
Institute for Political Economy
16th April, 2013
April 18 Note: At the online retailer Gainesville coins, and everywhere else, the increased premiums above the spot price of gold and silver indicate that the demand for bullion possession, that is, the demand for the metal itself, is greater than the price established in the paper market by manipulation.
Posted in Currency Wars | Tagged: comex gold, gold, gold manipulation, gold short-selling | Leave a Comment »
Posted by seumasach on April 28, 2013
A Multi-billion Treasure Trove in Lower Manhattan
Michel Chossudovsky
26th April, 2013
Germany is repatriating its gold reserves from the New York Federal Reserve. This decision has created a frenzy in the gold market. But that is just the tip of the iceberg.
Posted in Currency Wars | Tagged: german gold reserves, gold | Leave a Comment »
Posted by seumasach on April 17, 2013
April, 2013
Australia’s announcement that it is abandoning the U.S. dollar for trade with China is the latest broadside in the global currency war. Starting April 10, Australia and China will no longer use the U.S. dollar for trade between the two nations. For the first time, Australian businesses will be able to conduct trade in Chinese yuan. No more need for U.S. dollar intermediation.
Posted in Currency Wars | Tagged: China Australian cooperation | Leave a Comment »
Posted by seumasach on March 31, 2013
29th March, 2013
Most of the recent “currency war” talk refers to countries trying to lower the value of their currencies to gain a trade advantage and/or make their debts more manageable. But this war has another theater, where a weaker currency is not the main goal.
Posted in Currency Wars | Leave a Comment »
Posted by seumasach on November 20, 2012
Prof. Michel Chossudovsky
11th November, 2012
There is evidence that central banks in several regions of the World are building up their gold reserves. What is published are the official purchases.
A large part of these Central Bank purchases of gold bullion are not disclosed. They are undertaken through third party contracting companies, with utmost discretion.
US dollar holdings and US dollar denominated debt instruments are in effect being traded in for gold, which in turn puts pressure on the US dollar.
Posted in Currency Wars | Tagged: dollar collapse | Leave a Comment »
Posted by seumasach on October 27, 2012
25th October, 2012
The Eurozone meltdown has sent capital pouring into (temporarily) safe haven currencies like the US dollar, which rose by nearly 12% between October 2011 and August 2012.
Posted in Currency Wars, Financial crisis | Tagged: dollar collapse, End of empire | Leave a Comment »
Posted by seumasach on October 25, 2012
22nd October, 2012
The troubling side effects of quantitative easing in the U.S. are fast becoming evident in Asia, with policymakers in the region facing increasing pressure to step in and stem the rise in their currencies.
Posted in Currency Wars | Tagged: QE3 | Leave a Comment »
Posted by seumasach on October 25, 2012
QE bails out the banks at home and offloads the crisis onto the Global South
25th October, 2012
Chile’s ability to depreciate its peso is limited as developed countries and China fight “currency wars” that keep their exchange rates artificially weak, the Andean nation’s Finance Minister Felipe Larrain said in an economic forum yesterday.
Posted in Currency Wars | Tagged: QE3 | Leave a Comment »
Posted by seumasach on October 24, 2012
24th October, 2012
A ”renminbi bloc” has been formed in East Asia, as nations in the regionabandon the US dollar and peg their currency to the Chinese yuan — a majorsignal of China’s successful bid to internationalize its currency, a researchreport has said.
Posted in Currency Wars | Tagged: rising yuan | Leave a Comment »
Posted by seumasach on October 8, 2012
20th September, 2012
Guido Mantega, Brazil’s finance minister, has warned that the US Federal Reserve’s “protectionist” move to roll out more quantitative easing will reignite the currency wars with potentially drastic consequences for the rest of the world.
Posted in Currency Wars | Tagged: QE3 | Leave a Comment »
Posted by seumasach on July 19, 2012
All this is part of the so-called flight to safety whereby alternative investment outlets are blocked off forcing funds into US/UK bonds as the least bad option. The systematic devaluation of the euro via quantitative easing, long sought by Wall Street and the City of London and now seemingly being carried out with the direct bailout of the Spanish banks without creditor or shareholder write-downs, is another pillar of this policy.
Paul Craig Roberts and Nomi Prins
Institute for Political Economy
14th July, 2012
According to news reports, UK banks fixed the London interbank borrowing rate (Libor) with the complicity of the Bank of England (UK central bank) at a low rate in order to obtain a cheap borrowing cost. The way this scandal is playing out is that the banks benefitted from borrowing at these low rates. Whereas this is true, it also strikes us as simplistic and as a diversion from the deeper, darker scandal.
Posted in Battle for Europe, Currency Wars, Financial crisis | Tagged: libor scandal | Leave a Comment »
