In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘decline of dollar’

Iran, Iraq consider using local cash in mutual trade

Posted by seumasach on November 20, 2018

PressTV

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.

Read more

Posted in Currency Wars, Iran | Tagged: , , | Leave a Comment »

Russia sells off record amount of US Treasury bonds

Posted by seumasach on June 21, 2018

 

Strategic Culture

18th June, 2018

The US Treasury Department report for April published on June 15 revealed that Russia sold $47.4 billion out of the $96.1 it had held in Treasury bonds (T-bonds). In March, Moscow cut its Treasury holdings by $1.6 billion. In February, Russia reduced its bond portfolio by $9.3 billion. Other holders did it too. Japan sold off about $12 billion, China liquidated roughly $7 billion. Ireland ditched over $17 billion.

Read more

Posted in Uncategorized | Tagged: , , , , , , | Leave a Comment »

BRICS countries mulling formation of single gold trade system

Posted by seumasach on November 26, 2017

TASS

24th November, 2017

BRICS countries are discussing the possibility of establishing a single gold trade system, First Deputy Chairman of Russia’s Central Bank Sergey Shvetsov said Friday.

Read more

Posted in Uncategorized | Tagged: , , , , | Leave a Comment »

Russia and China actively collude to bring down the only thing America cares about: THE DOLLAR

Posted by seumasach on November 1, 2017

A soft landing for the dollar is by far the best option. That implies negotiations. As the incumbent the US has certain advantages- it wouldn’t be negotiating entirely from a position of weakness. But Russia/China must be able to find reliable interlocutors in the US and, given the internal turmoil and division within the US ruling class, it is by no means certain they can be found. In order to take advantage of the win/win scenarios which multipolarity undoubtedy offers them the Americans have to sort themselves out.

Adam Garrie

The Duran

31st October, 2017

Russia is not actually interested in undermining American “democracy”. In fact, the United States isn’t particularly concerned either. But Russiagate continues to give mainstream media a narrative that it can sell to its dwindling core audience. However, when it comes to the real linchpin of American power, the almighty Dollar, things are very different.

Read more

Posted in Multipolar world | Tagged: , , , , , | Leave a Comment »

Challenging the dollar: China and Russia’s plan from petroyuan to gold

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.

Read more

Posted in Currency Wars | Tagged: , , , , | Leave a Comment »

The Almighty dollar against the Great Petro-Yuan Temptation

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.

Read more

Posted in Currency Wars | Tagged: , , , , | Leave a Comment »

Blowing off the roof

Posted by seumasach on September 11, 2017

This actually ties in logically with declarations at the recent BRICS conference concerning an alternative system of international payments involving, most notably. a gold-backed Yuan. The dollar’s demise as the global reserve currency is imminent and Trump’s deal with the Democrats merely brings it closer but with the advantage that the Democrats can’t blame Trump for it now.

Peter Schiff

Euro Pacific

8th September, 2017

Of all the absurd Washington pantomimes none has been as reliably entertaining and maddening as the annual debates to raise the debt ceiling. Although the outcome was always a foregone conclusion (the ceiling would be raised), the excitement came when fiscal conservatives bemoaned the perils of runaway debt and “attempted” to exact spending restrictions through threats “to shut down the government,” (which often led to news coverage of tourists being turned away from national parks.) On the other side of the aisle Democrats would rail that the ceiling must be raised “because America always pays her bills.” Lost was the irony that “paying” bills with borrowed money was fiscally responsible, and that raising the ceiling actually enabled America to continue to avoid paying its bills. After these amateur theatrics, the ceiling would be lifted and Washington would go on as if nothing happened. But at least the performance threw occasional light on the nation’s debt problems.

Read more

Posted in Uncategorized | Tagged: , , | Leave a Comment »

Venezuela Is about to ditch the dollar

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.

Read more

Posted in Currency Wars | Tagged: , , | Leave a Comment »

The real BRICS bombshell

Posted by seumasach on September 6, 2017

Pepe Escobar

Asia Times

5th September, 2017

The annual BRICS summit in Xiamen – where President Xi Jinping was once mayor – could not intervene in a more incandescent geopolitical context.

Read more

Posted in Multipolar world | Tagged: , , | Leave a Comment »

China sees new world order with oil benchmark backed by gold

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.

Read more

Posted in Currency Wars, Multipolar world | Tagged: , , | Leave a Comment »

Moscow, Beijing prepare for trade in gold

Posted by seumasach on July 16, 2017

Russia Insider

14th July, 2017

Russia’s largest, state-owned bank Sberbank announced on Thursday its Swiss subsidiary had begun trading physical gold on the Shanghai Gold Exchange.

Read more

Posted in Uncategorized | Tagged: , | Leave a Comment »

 
%d bloggers like this: