Archive for the ‘Currency Wars’ Category
Posted by seumasach on October 5, 2017
“The reason the dollar plays such an important role in the world economy is due to the following three major factors: the petrodollar; the dollar as world reserve currency; and Nixon’s decision in 1971 to no longer make the dollar convertible into gold. As is easy to guess, the petrodollar strongly influenced the composition of the SDR basket, making the dollar the world reserve currency, spelling grave implications for the global economy due to Nixon’s decision to eliminate the dollar’s convertibility into gold. Most of the problems for the rest of the world began from a combination of these three factors.”
Federico Pieraccini
Strategic -Culture
If we were to identify what uniquely fuels American imperialism and its aspirations for global hegemony, the role of the US dollar would figure prominently.
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Posted in Currency Wars | Tagged: decline of dollar, end of petrodollar, gold-backed yuan, petro-yuan, reserve currency status of dollar | Leave a Comment »
Posted by seumasach on September 19, 2017
GEAB
17th September, 2017
Qatar, North Korea, the Baltic Sea, risk of a World War III… and all the military ranting mentioned in the media lately, are issues going hand in hand with the programmed and imminent advent of the catastrophic scenario for the dollar as a unique world reference currency: the Petro-Yuan will be in place at the end of the year. More than a petro-currency, it will be a petro-gas-gold-currency! The West is thus preparing to switch to total anachronism with this founding act of the 21st century multipolar world. 2014-2017: here we are, at the end of a three-year exacerbation period of tensions on all front lines (West against the rest of the world) and we are witnessing the up-coming end of the dollar’s reign over the world and over all financial systems and their related economic activities. Sanctions, blockades, proxy-wars, direct military threats… the question is whether the current clash of arms is really a warning sign of an Nth suicide of the West whilst hoping in vain to stop time, or whether the solution conveying power is on the verge of carrying away all possible resistance.
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Posted in Currency Wars | Tagged: decline of dollar, dollar collapse, End of empire, gold-backed yuan, petro-yuan | Leave a Comment »
Posted by seumasach on September 9, 2017
Anti-media
8th September, 2017
Venezuelan President Nicolas Maduro said Thursday that Venezuela will be looking to “free” itself from the U.S. dollar next week, Reuters reports. According to the outlet, Maduro will look to use the weakest of two official foreign exchange regimes (essentially the way Venezuela will manage its currency in relation to other currencies and the foreign exchange market), along with a basket of currencies.
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Posted in Currency Wars | Tagged: decline of dollar, Russia venezuela alliance, venezuela-china relations | Leave a Comment »
Posted by seumasach on September 3, 2017
Nikkei Asian Review
1st September, 2017
DENPASAR, Indonesia — China is expected shortly to launch a crude oil futures contract priced in yuan and convertible into gold in what analysts say could be a game-changer for the industry.
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Posted in Currency Wars, Multipolar world | Tagged: Chinese soft power, decline of dollar, gold-backed yuan | Leave a Comment »
Posted by seumasach on January 28, 2017
Mr Winkler has cited data from the IMF which shows that the sterling share of global reserves has fallen slightly in the two quarters to September.
He also says the Chinese central bank is moving out of sterling more rapidly than it moves out of other currencies, as it sells down its massive hoard of reserves in order to stop the value of the renminbi from falling too fast.
27th January
Read Independent article: Is the pound in danger of losing its reserve currency status because of Brexit?
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Posted in Currency Wars | Tagged: pound as reserve currency, Sterling's decline, the sinking pound | Leave a Comment »
Posted by seumasach on December 17, 2016
Foreign Central Banks Liquidate A Record $403 Billion In US Paper
Zero Hedge
16th December, 2016
One month ago, when we last looked at the Fed’s update of Treasuries held in custody, we noted something troubling: the number had continued to drop sharply, declining by another $14 billion in one week, and pushing the total amount of custodial paper to $2.788 trillion, the lowest since 2012. One month later, we refresh this chart and find that in last week’s update, there is finally some good news: foreign central banks finally bought some US paper held in the Fed’s custody account, which following months of liquidation, rose over the past two weeks by $23 billion, the biggest two-week advance since November of 2016, pushing the total amount of custodial paper to $2.816 trillion, the highest since early October.
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Posted in Currency Wars, Financial crisis | Tagged: US treasuries bubble | Leave a Comment »
Posted by seumasach on February 10, 2016
Sputnik
10th February, 2016
Tehran has taken revenge on Washington for years of US-driven economic warfare against Iran: the National Iranian Oil Company has announced that Iran will only accept payment in euros, not dollars, for its oil, F. William Engdahl notes, adding that Saddam Hussein had adopted a similar ‘petroeuro’ practice, prompting the US to invade Iraq.
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Posted in Currency Wars | Tagged: BRICS(Brazil-Russia-India-China-South Africa), dollar collapse, End of empire | Leave a Comment »
Posted by seumasach on February 7, 2016
PressTV
5th February, 2016
Iran indicated on Friday that it wants to settle payments for its new and outstanding oil sales in euros and not in dollars or any other currencies.
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Posted in Currency Wars | Tagged: dollar collapse, End of empire | Leave a Comment »
Posted by seumasach on February 1, 2016
Here comes the showdown between the Western financial model and the Chinese one viewed through a Western prism in this article. This looks to me like desperate stuff from Soros and his speculator friends.
Zero Hedge
31st January, 2016
One month ago, we first revealed that for one prominent winner from the subprime crisis, Hayman Capital’s Kyle Bass, “the greatest investment opportunity right now” is to short the Chinese Yuan: as he explained “given our views on credit contraction in Asia, and in China in particular, let’s say they are going to go through a banking loss cycle like we went through during the Great Financial Crisis, there’s one thing that is going to happen: China is going to have to dramatically devalue its currency.” He even went so far as to give a timeframe: “we think it’s going to be in the next 12-18 months.”
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Posted in Currency Wars | Tagged: chinese financial system, Soros v. China | Leave a Comment »
Posted by seumasach on January 10, 2016
Alasdair Macleod
Gold Money
7th January, 2015
Advance signs of a global slump in economic activity emerged in 2015
Furthermore, the dollar’s strength, coupled with widening credit spreads confirms a global tendency for dollar-denominated debt to contract. These developments typically precede an economic and financial crisis that could manifest itself in 2016, partially confirmed by the disappointing performance of equity markets. If so, demand for physical gold can be expected to escalate rapidly as a financial crisis unfolds.
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Posted in Currency Wars | Tagged: Chinese soft power, dollar collapse, gold-backed yuan | Leave a Comment »
Posted by seumasach on January 10, 2016
Just the Beginning: Iran, India Dump Petrodollar, Settle Oil Payments in Rupees
Russia Insider
6th January, 2015
Iran and India have announced that they intend to settle all oustanding crude oil payments in rupees, as part of a joint strategy to dump the dollar and trade instead in national currencies.
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Posted in Currency Wars | Tagged: dollar collapse, End of empire | Leave a Comment »
