In These New Times

A new paradigm for a post-imperial world

The global financial system is unraveling…

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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It’s time for realism in EU-Russia ties: France’s Macron

Posted by seumasach on September 2, 2018

This looks like the decisive,long-awaited moment. Prompted by Trump, who seems intent on US withdrawal from Europe, the EU leadership knows that it must now look east. Rumours that Turkey is about to default on its debt could draw the EU closer to avoid heavy loses but negotiations would no longer be about Turkey joining the EU but, rather, the EU joining Turkey, Russia, Iran and , above all, China. The EU project becomes the Eurasian project.

Reuters

30th August, 2018

HELSINKI (Reuters) – French President Emmanuel Macron urged the European Union on Thursday to modernize its post-Cold War ties with Russia and pursue “strategic relations” with Turkey as well as other close neighbors, including in defense matters.

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Back in the (great) game: the revenge of Eurasian land powers

Posted by seumasach on September 1, 2018

Pepe Escobar

Consortium News

29th August, 2018

Get ready for a major geopolitical chessboard rumble: from now on, every butterfly fluttering its wings and setting off a tornado directly connects to the battle between Eurasia integration and Western sanctions as foreign policy.

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Iran sanctions, emerging markets and the end of dollar dominance

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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Turkey’s crisis and the dollar’s future

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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Putin’s wedding trip seals marriage of convenience with Merkel

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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Time has come for Russia to finally ditch US dollar

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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Germany calls for global payment system independent of the US

Posted by seumasach on August 22, 2018

Tyler Durden

Zero Hedge

In a stunning vote of “no confidence” in the US monopoly over global payment infrastructure, Germany’s foreign minister Heiko Maas called for the creation of a new payments system independent of the US that would allow Brussels to be independent in its financial operations from Washington and as a means of rescuing the nuclear deal between Iran and the west.

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Globalization with Chinese characteristics

Posted by seumasach on August 14, 2018

In other words, with it’s use of subsidies in accordance with national priorities, its tight control over foreign direct investment and state control over the financial system and capital flows, all of which are in contradiction to the neo-liberal, Washington consensus, China maintains, essentially, a type of socialist system.

Barry Eichengreen

Asia Times

14th August, 2018

US President Donald Trump’s erratic unilateralism represents nothing less than abdication of global economic and political leadership. Trump’s withdrawal from the Paris climate agreement, his rejection of the Iran nuclear deal, his tariff war, and his frequent attacks on allies and embrace of adversaries have rapidly turned the United States into an unreliable partner in upholding the international order.

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Trump scores an own-goal in the game against Iran

Posted by seumasach on August 14, 2018

M.K.Bhadrakumar

Asia Times

13th August, 2018

The Israeli press is awash with reports that US President Donald Trump is faithfully executing a containment strategy against Iran that was scripted in Tel Aviv by none other than Prime Minister Benjamin Netanyahu.

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Russia finance minister: We may abandon dollar in oil trade

Posted by seumasach on August 13, 2018

Zero Hedge

12th August, 2018

 

One month ago, the bond market and political pundits did a double take when according to the latest Treasury International Capital report, Russia had liquidated virtually all of its US Treasury holdings, selling off the bulk of its US government bonds in just two months, March and April.

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