In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘dollar collapse’

Europe’s banks seek gold repatriation

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.

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What would happen if everyone joins China in dumping Treasurys?

Posted by seumasach on August 27, 2015

Zero Hedge

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. 

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Dollar no more

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.

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China launches a gold exchange

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.

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France lashes out against US dollar

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.


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France’s Noyer says BNP may prompt shift away from Dollar

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.

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Money and credit and the current backdrop

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.

Doug Noland

Prudent Bear

27th April, 2014

Trouble brewing

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. 

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Dollar dying; multi-polar world in offing

Posted by seumasach on April 19, 2014

F.William Engdahl


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.

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China starts to make a power move against the U.S. dollar

Posted by seumasach on February 21, 2014

This looks like a good moment to curb CIA activities in Ukraine and Venezuela

Investment Watch

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.
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Venezuela: raid on Leopoldo López’s headquarters as Maduro cracks down

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.

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2014, resumption of the of the global systemic crisis’ « normal » path

Posted by seumasach on February 17, 2014

LEAP 2020

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.

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