Posted by seumasach on June 4, 2021
3rd June, 2021
Speaking later on Thursday, Kremlin spokesman Dmitry Peskov backed the decision, saying that “the de-dollarization process is constant. It is, in fact, now visible to the naked eye.” He added that the move away from financial dependence on Washington “is taking place not only in our country, but also in many countries around the world, which have begun to experience concerns about the reliability of the main reserve currency.”
Posted in Currency Wars | Tagged: dedollarisation, dollar decline, new global financial system | Leave a Comment »
Posted by seumasach on July 20, 2020
This article is a revelation to me: I have been looking t this issue for some time but have been unaware of the EU’s preparatory moves towards a gold-backed international financial system. Despite the endless stream of ridicule directed against the EU leadership it would appear that something of real value has been accomplished. This all makes sense when we recall Giscard d’Estaing’s reference to America’s “exorbitant privilege” of being able to issue fiat to cover a permanent trade and capital deficit. Perhaps to complete the picture we only need to suppose a vast underestimate of China’s gold holdings.
Jan Nieuwenhuijs
15th July, 2020
Research reveals that European central banks have prepared a new international gold standard. Since the 1970s, policies that paved the way for an equitable and durable monetary system have gradually been implemented.
Posted in Currency Wars | Tagged: gold standard, new global financial system | Leave a Comment »
Posted by seumasach on November 10, 2019
3rd November, 2019
China has high ambitions for its state-controlled digital currency.
I wrote two months ago that its central bank digital currency could be imminent. And since foreign adoption of the yuan has been tepid so far, the technology also represents a massive bid to accelerate the internationalization of yuan.
Posted in Currency Wars | Tagged: Chinese soft power, demise of dollar, gold-backed cryptocurrency, gold-backed yuan | Leave a Comment »
Posted by seumasach on July 15, 2019
Interview with Michael Hudson
7th July, 2019
Economist Michael Hudson continues his discussion of Super Imperialism: The Economic Strategy of American Empire with a focus on US monetary imperialism; President Trump’s demand for lower interest rates undercuts America’s requirement for foreign investment to fund its domestic and balance of payments deficit, increases the carry trade and turns IMF and World Bank policies on the US; analysis of US economic domination of the world from its position as the world’s largest creditor post-WWI; analysis of US economic domination of the world from its position as the world’s largest debtor after the 1971 close of America’s gold window; emergence of the dollar-debt standard; how war has bankrupted the US; the difference between imperialism and super imperialism; US bribes foreign governments; China’s banking system; China and Russia stockpile gold as the world breaks out of dollar domination.
Posted in Currency Wars, Uncategorized | Tagged: de-dollarisation, decline of dollar, End of empire, gold standard | Leave a Comment »
Posted by seumasach on December 25, 2018
The Duran(source:RT)
24th december, 2018
Moscow is dropping the greenback in major arms deals and switching to the Russian ruble and the national currencies of its partners, according to the country’s trade minister Denis Manturov.
Posted in Currency Wars, Uncategorized | Tagged: decline of dollar, End of empire | Leave a Comment »
Posted by seumasach on December 15, 2018
14th December, 2018
Forces are aligning against Saudi Arabia’s Crown Prince, lead by elements within the CIA and strong players in the mainstream media. But what is really behind this deterioration in relationship, and what are its implications?
Posted in Currency Wars | Tagged: petro-yuan, saudi russia rapprochement | Leave a Comment »
Posted by seumasach on November 20, 2018
18th November, 2018
Iran says it is discussing a plan with Iraq to switch to dinar in trade instead of the US dollar.
The announcement was made by Iran’s Ambassador Iraj Masjedi who said the plan had been devised in response to recent US sanctions that restricted Iran’s access to the greenback.
Posted in Currency Wars, Iran | Tagged: decline of dollar, iran sanctions, Multipolar world | Leave a Comment »
Posted by seumasach on October 24, 2018
M.K.Bhadrakumar
22nd October, 2018
It goes without saying that oil has been central to military power and economic life in modern history. Control of oil has been a key source of power and policy in the Cold War. There was even a top-secret US government plan to ravage the Middle East oil industry in the event of the former Soviet Union gaining control of it. The CIA called it the “denial policy”. It was hatched in 1948 during the Berlin Blockade – whereby, oil wells would be plugged, equipment and fuel stockpiles destroyed, refineries and pipelines disabled to ensure that the USSR never got hold of the Middle East’s oil resources.
Posted in Currency Wars | Tagged: end of dollar as global reserve currency, saudi russia rapprochement, US-Saudi rift | Leave a Comment »
Posted by seumasach on September 29, 2018
“What really matters is the fact that the leading nations of the EU have joined the global heavyweights — Russia and China — in open defiance of the United States. This is a milestone event. It’s hard to underestimate its importance. Certainly, it’s too early to say that the UK and other EU member states are doing a sharp pivot toward the countries that oppose the US globally, but this is a start — a first step down that path. This would all have seemed unimaginable just a couple of years ago — the West and the East in the same boat, trying to stand up to the American bully!”
28th September, 2018
The UN General Assembly (UNGA) in New York is a place where world leaders are able to hold important meetings behind closed doors. Russia, China, the UK, Germany, France, and the EU seized that opportunity on Sept. 24 to achieve a real milestone.
Posted in Currency Wars, Multipolar world | Tagged: Eurasian integration, Multipolar world | Leave a Comment »
Posted by seumasach on September 26, 2018
“Creating “a defensible banking architecture” may well be the end goal for the Europeans, China and Russia, anyway. Iran is only a convenient pretext: the nuclear agreement is one of the few things that unite the EU, China and Russia against the U.S. But working to undermine the dollar’s global dominance isn’t ultimately about Iran at all. In his recent State of the European Union speech, European Commission President Jean-Claude Juncker called for strengthening the euro’s international role and moving away from traditional dollar invoicing in foreign trade. China and Russia have long sought the same thing, but it’s only with Europe, home of the world’s second biggest reserve currency, that they stand a chance of challenging American dominance.”
25th September, 2018
With more and more European companies fleeing Iran following the re-imposition of U.S. sanctions, it may be tempting for Americans to write off Europe’s efforts to save the Iran nuclear deal. It would be wiser to resist the temptation.
Posted in Battle for Europe, Currency Wars | Tagged: independent Europe, new global financial architecture | Leave a Comment »
Posted by seumasach on September 5, 2018
On the one hand, we can expect to see defaults on dollar debt. On the other, dollars held abroad will be used to prop up falling currencies- for example, China may support the Turkish Lira- or used to buy gold or commodities.
And No, the U.S. Is Not immune
Charles Hugh Smith
4th September, 2018
Currencies don’t melt down randomly. This is only the first stage of a complete re-ordering of the global financial system.
Posted in Currency Wars | Tagged: demise of dollar, global reset, new global financial architecture | Leave a Comment »
In These New Times 