Posted by seumasach on September 15, 2015
US Gold Reserves Bottom Out as Europe’s Banks Seek Financial Independence
14th September, 2015
European Central banks keep demanding the return of their gold bullion from the vaults of the Federal Reserve Bank of New York, reducing the gold stockpile kept under the streets of Manhattan to its lowest level in decades; economist Lew Rockwell is convinced that the move is an indication that Europe is desperately striving for independence.
Posted in Battle for Europe | Tagged: dollar collapse, gold repatriation | Leave a Comment »
Posted by seumasach on August 27, 2015
26th August, 2015
On Tuesday evening in “Devaluation Stunner: China Has Dumped $100 Billion In Treasurys In The Past Two Weeks,” we quantified the cost of China’s near daily open FX operations in support of the yuan.
Posted in Financial crisis | Tagged: dollar collapse | Leave a Comment »
Posted by seumasach on May 3, 2015
30th April, 2015
In early 2014, Justin Yifu Lin, the former World Bank Chief Economist, blamed the dominance of the US dollar for global economic crises and said it should be eliminated as the world’s reserve currency. According to Lin, the solution would be to replace the national currency with a global currency.
In the recent months, several countries, including Russia, China, India and Turkey, have decided to ditch the US dollar in their foreign trade, often paying for products in gold or other agreed on currencies.
Posted in Financial crisis | Tagged: dollar collapse, End of empire, new financial architecture | Leave a Comment »
Posted by seumasach on September 23, 2014
China set to win Asia gold pricing race with new exchange
Times of India
18th September, 2014
SINGAPORE/SHANGHAI: China launched a gold exchange open to foreign players for the first time on Thursday, putting the world’s top bullion buyer on track to win a race to set the benchmark price in Asia.
Posted in Uncategorized | Tagged: decline of dollar, dollar collapse | Leave a Comment »
Posted by seumasach on July 9, 2014
…calls for ‘rebalancing’ of world currencies
7th July, 2014
The French government wants to break the monopoly the dollar has on international transactions after the country’s largest bank, BNP Paribas, was slapped with a record $9 billion fine and a 1-year dollar trading ban.
Posted in Battle for Europe | Tagged: dollar collapse, End of empire | Leave a Comment »
Posted by seumasach on June 13, 2014
France’s Noyer Says BNP May Prompt Shift Away From Dollar
11th June, 2014
Bank of France Governor Christian Noyer said the U.S. investigation into BNP Paribas SA (BNP)’s dealings with sanctioned nations may encourage companies to stop using dollars in international transactions.
Posted in Battle for Europe, Currency Wars | Tagged: dollar collapse, Transatlantic Trade and Investment Partnership (TTIP) | Leave a Comment »
Posted by seumasach on April 30, 2014
“Today’s markets would react negatively to any major expansion of central bank Credit from the likes of Brazil, Russia, Turkey, India, Indonesia or South Africa. This market dynamic provides a huge competitive advantage to developed central banks, markets and economies. Increasingly, this competitive advantage along with the destabilizing global role of Federal Reserve “money” are sources of heightened global animosities. More than ever before, EM economies see developed “money” printing as a force for rising inequality”.
In other words, the ability of Washington and London to “quantitatively ease” is an imperial privilege. However, there is one crucial distinction between this and past forms of imperial exploitation: QE is also impoverishing, through inflation, the whole US and UK populations, outside the 0.01 % elite.
27th April, 2014
Over the years, money and the “Moneyness” of Credit have remained focal points of my Macro Credit Analytical Framework. From my perspective, money is fundamentally defined by perceptions. “Money” is a financial claim perceived as safe and a liquid store of nominal value. Understandably, this definition is troubling to monetary purists. Yet in the spirit of Ludwig von Mises and his notion of broad money/“fiduciary media,” my view of contemporary “money” is focused on an array of financial claims and their functionality.
Posted in Currency Wars | Tagged: dollar collapse, End of empire, hyperinflation, quantitative easing | Leave a Comment »
Posted by seumasach on April 19, 2014
18th April, 2014
Washington’s decision to go for the military coup in Ukraine was intended to rupture the emerging cooperation between key Eurasian nations that ultimately would have isolated the power of US hegemony and opened the door for a genuine multi-polar world where peaceful cooperation replaced military threats and sole Superpower domination.
Posted in Multipolar world | Tagged: BRICS(Brazil-Russia-India-China-South Africa), China-Iran-Russia Triangle, dollar collapse, End of empire | Leave a Comment »
Posted by seumasach on February 21, 2014
This looks like a good moment to curb CIA activities in Ukraine and Venezuela
20th February, 2014
In order for our current level of debt-fueled prosperity to continue, the rest of the world must continue to use our dollars to trade with one another and must continue to buy our debt at ridiculously low interest rates. Of course the number one foreign nation that we depend on to participate in our system is China. China accounts for more global tradethan anyone else on the planet (including the United States), and most of that trade is conducted in U.S. dollars. This keeps demand for our dollars very high, and it ensures that we can import massive quantities of goods from overseas at very low cost. As a major exporting nation, China ends up with gigantic piles of our dollars. They lend many of those dollars back to us at ridiculously low interest rates. At this point, China owns more of our national debt than any other country does. But if China was to decide to quit playing our game and started moving away from U.S. dollars and U.S. debt, our economic prosperity could disappear very rapidly. Demand for the U.S. dollar would fall and prices would go up. And interest rates on our debt and everything else in our financial system would go up to crippling levels. So it is absolutely critical to our financial future that China continues to play our game.
Posted in Currency Wars | Tagged: Chinese soft power, dollar collapse | Leave a Comment »
Posted by seumasach on February 18, 2014
The great about quantitative easing is that at the same time as providing an ongoing bailout of Wall Street it releases speculative funds to drive up food prices globally. This enables further US-backed destabilization campaigns, led by “activists” and cheer-led by the Guardian newspaper, directed against the worlds “regimes”. But these dollars are now coming home to roost with the promise of hyper-inflation in the homeland. How will our “regimes” respond?
18th February, 2014
A crowd of anti-government activists wrested free an opposition politician as he was being hauled away in handcuffs by security forces following a raid on the party headquarters of Leopoldo López, President Nicolas Maduro’s biggest foe.
Posted in Currency Wars | Tagged: dollar collapse, End of empire, quantitative easing | Leave a Comment »
Posted by seumasach on February 17, 2014
16th February, 2014
The avalanche of liquidity from the Fed’s quantitative easing in 2013, allowed the world before’s tenets to wake up: indebtedness, bubbles, globalization, financialization… But all it took was a slight slowing down in the astronomical amounts injected by the US central bank every month for the rampant crisis, buried under these piles of liquidity, to reassert itself. As anticipated, the method of “resolving” the crisis by accentuating the excesses that caused it is ineffective, causing a crisis squared instead. All the same one can find an actual benefit: time is gained which everyone uses to their best advantage.
Posted in Financial crisis | Tagged: BRICS(Brazil-Russia-India-China-South Africa), dollar collapse, End of empire, QE3, tapering | Leave a Comment »