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?
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
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.
Posted in Currency Wars, Financial crisis | Tagged: US treasuries bubble | Leave a Comment »
Posted by seumasach on February 10, 2016
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.
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
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.
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.
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.”
Posted in Currency Wars | Tagged: chinese financial system, Soros v. China | Leave a Comment »
Posted by seumasach on January 10, 2016
Alasdair Macleod
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.
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
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.
Posted in Currency Wars | Tagged: dollar collapse, End of empire | Leave a Comment »
Posted by seumasach on September 12, 2015
Launch Of Renminbi-Denominated Oil Futures Contract Imminent
11th September, 2015
Whenever one talks about the death of the petrodollar, the unspoken question lurking just beneath the surface is this: is the rise of the petroyuan just around the corner?
Posted in Currency Wars, Multipolar world | Tagged: Chinese soft power, end of petrodollar, petroyuan | Leave a Comment »
Posted by seumasach on June 25, 2015
Nonetheless, Rashed sums up: “Of course, we shouldn’t read into any new developments outside political frameworks, because I can hardly imagine that Saudi Arabia has decided to turn against its alliances (with the West) – but it probably wants to get out of the narrow US corner and expand its options”.
The Saudis can downplay this as much as they want- the simple fact is that getting out of “the narrow US corner” is tantamount to ending the reign of the petrodollar
M.K.Bhadrakumar
24th June, 2015
The latest bunch of diplomatic cables released by WikiLeaks as part of the half a million files relating to Saudi Arabian Foreign Ministry contains a revealing document on an “arrangement of reciprocal support to the candidature of the Government of Russia to the Human Rights Council on the understanding that the Government of Russia would also extend its valuable support to the candidature of Saudi Arabia” in the elections to the body held in May 2013.
Posted in Currency Wars, Multipolar world | Tagged: end of petrodollar, Russian diplomacy | Leave a Comment »
Posted by seumasach on June 21, 2015
Sino-Russian rapid rapprochement giving Western financiers the shivers
19th June, 2015
The Sino-Russian rapid rapprochement, accelerated by anti-Russian sanctions, gives Western financiers the shivers and prompts fears for the West’s economic fortunes and the future of the US dollar.
Posted in Currency Wars | Leave a Comment »
Posted by seumasach on June 18, 2015
Bank of China becomes first Asian firm to help set London’s gold price
16th June, 2015
A Chinese bank will become the first Asian firm in history to join a group of Western institutions that help set the price of gold in the London market.
Posted in Currency Wars | Tagged: Chinese soft power | Leave a Comment »
