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 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 15, 2015
US Gold Reserves Bottom Out as Europe’s Banks Seek Financial Independence
14th September, 2015
European Central banks keep demanding the return of their gold bullion from the vaults of the Federal Reserve Bank of New York, reducing the gold stockpile kept under the streets of Manhattan to its lowest level in decades; economist Lew Rockwell is convinced that the move is an indication that Europe is desperately striving for independence.
Posted in Battle for Europe | Tagged: dollar collapse, gold repatriation | Leave a Comment »
Posted by seumasach on August 27, 2015
26th August, 2015
On Tuesday evening in “Devaluation Stunner: China Has Dumped $100 Billion In Treasurys In The Past Two Weeks,” we quantified the cost of China’s near daily open FX operations in support of the yuan.
Posted in Financial crisis | Tagged: dollar collapse | Leave a Comment »
Posted by seumasach on May 3, 2015
30th April, 2015
In early 2014, Justin Yifu Lin, the former World Bank Chief Economist, blamed the dominance of the US dollar for global economic crises and said it should be eliminated as the world’s reserve currency. According to Lin, the solution would be to replace the national currency with a global currency.
In the recent months, several countries, including Russia, China, India and Turkey, have decided to ditch the US dollar in their foreign trade, often paying for products in gold or other agreed on currencies.
Read more
Posted in Financial crisis | Tagged: dollar collapse, End of empire, new financial architecture | Leave a Comment »
Posted by seumasach on September 23, 2014
China set to win Asia gold pricing race with new exchange
18th September, 2014
SINGAPORE/SHANGHAI: China launched a gold exchange open to foreign players for the first time on Thursday, putting the world’s top bullion buyer on track to win a race to set the benchmark price in Asia.
Posted in Uncategorized | Tagged: decline of dollar, dollar collapse | Leave a Comment »
Posted by seumasach on July 9, 2014
…calls for ‘rebalancing’ of world currencies
7th July, 2014
The French government wants to break the monopoly the dollar has on international transactions after the country’s largest bank, BNP Paribas, was slapped with a record $9 billion fine and a 1-year dollar trading ban.
Posted in Battle for Europe | Tagged: dollar collapse, End of empire | Leave a Comment »
Posted by seumasach on June 13, 2014
France’s Noyer Says BNP May Prompt Shift Away From Dollar
11th June, 2014
Bank of France Governor Christian Noyer said the U.S. investigation into BNP Paribas SA (BNP)’s dealings with sanctioned nations may encourage companies to stop using dollars in international transactions.
Posted in Battle for Europe, Currency Wars | Tagged: dollar collapse, Transatlantic Trade and Investment Partnership (TTIP) | Leave a Comment »
Posted by seumasach on April 30, 2014
“Today’s markets would react negatively to any major expansion of central bank Credit from the likes of Brazil, Russia, Turkey, India, Indonesia or South Africa. This market dynamic provides a huge competitive advantage to developed central banks, markets and economies. Increasingly, this competitive advantage along with the destabilizing global role of Federal Reserve “money” are sources of heightened global animosities. More than ever before, EM economies see developed “money” printing as a force for rising inequality”.
In other words, the ability of Washington and London to “quantitatively ease” is an imperial privilege. However, there is one crucial distinction between this and past forms of imperial exploitation: QE is also impoverishing, through inflation, the whole US and UK populations, outside the 0.01 % elite.
Doug Noland
27th April, 2014
Trouble brewing
Over the years, money and the “Moneyness” of Credit have remained focal points of my Macro Credit Analytical Framework. From my perspective, money is fundamentally defined by perceptions. “Money” is a financial claim perceived as safe and a liquid store of nominal value. Understandably, this definition is troubling to monetary purists. Yet in the spirit of Ludwig von Mises and his notion of broad money/“fiduciary media,” my view of contemporary “money” is focused on an array of financial claims and their functionality.
Posted in Currency Wars | Tagged: dollar collapse, End of empire, hyperinflation, quantitative easing | Leave a Comment »
