Archive for the ‘Currency Wars’ Category
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.”
Bloomberg
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.
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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
Of Two Minds
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.
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Posted in Currency Wars | Tagged: demise of dollar, global reset, new global financial architecture | Leave a Comment »
Posted by seumasach on August 30, 2018
Brandon Smith
Birch Gold
The trade war is a rather strange and bewildering affair if you do not understand the underlying goal behind it. If you think that the goal is to balance the trade deficit and provide a more amicable deal for U.S. producers on the global market, then you are probably finding yourself either confused, or operating on blind faith that the details will work themselves out.
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Posted in Currency Wars | Tagged: demise of dollar, end of dollar as global reserve currency, End of empire, global reset, new global financial architecture, reserve currency status of dollar, SDRs | Leave a Comment »
Posted by seumasach on August 27, 2018
Alastair MacLeod
Mises Institute
22nd August, 2018
Last week’s collapse of the Turkish lira has dominated the headlines, and it is widely reported that this and other emerging market currencies are in trouble because of the withdrawal of dollar liquidity. There are huge quantities of footloose dollars betting against these weak currencies, as well as commodities and gold, on the basis the long-expected squeeze on dollar liquidity is finally upon us.
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Posted in Currency Wars | Tagged: Chinese soft power, de-dollarisation, demise of dollar, dollar, End of empire, Russian diplomacy | Leave a Comment »
Posted by seumasach on August 25, 2018
Pepe Escobar
Asia Times
25th August, 2018
It was supposed to be a low-key, traditional Austrian wedding until Vladimir Putin pulled up in a black limo. The bride was Austrian Foreign Minister Karin Kneissl, a top energy analystand former professor at the Diplomatic Academy in Vienna and the European Business School in Frankfurt.
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Posted in Battle for Europe, Currency Wars | Tagged: independent Europe, North Stream, Russian diplomacy | Leave a Comment »
Posted by seumasach on August 25, 2018
RT
24th August, 2018
Russia will definitely respond to Washington’s latest sanctions and, in particular, it is accelerating efforts to abandon the American currency in trade transactions, said Deputy Foreign Minister Sergei Ryabkov.
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Posted in Currency Wars | Tagged: end of dollar, End of empire | Leave a Comment »
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?
Posted in Currency Wars | Tagged: pound as reserve currency, Sterling's decline, the sinking pound | Leave a Comment »
In These New Times 