In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘End of empire’

Russia phasing out US dollar in military contracts

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.

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Trump’s Syrian pullout is a game changer

Posted by seumasach on December 20, 2018

M.K.Bhadrakumar

Indian Punchline

20th december, 2018

The US President Donald Trump’s announcement on Wednesday regarding the withdrawal of American military from Syria has predictably run into strong headwinds in the Washington Beltway. A formidable coalition appeared overnight – comprising the Deep State, US defence and security establishment, leading members of the Congress, major media organs –branding Trump as a maverick. However, the fact of the matter is that Trump made a considered decision.

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Hammond threatens EU with aggressive tax changes after Brexit

Posted by seumasach on December 15, 2018

It is clear now that the meaning of this statement has to be revisited in the light growing American hostility to UK financial interests culminating in Trump’s election and  embodied in his tax reforms, and the growing campaign to render British Overseas Territories more transparent finally concretised in 2018 legislation. Dodgy financial operations are not only under threat by EU regulations but by US competition. and have been for some time. Hence the need for a deepening of the City of London’s role as a haven for illicit money flows.

Guardian

15th January, 2017

The chancellor, Philip Hammond, has suggested Britain could transform its economic model into that of a corporate tax haven if the EU fails to provide it with an agreement on market access after Brexit.

In an interview with the German newspaper Welt am Sonntag, Hammond said that if Britain were closed off from European markets after leaving the EU, it would consider abandoning a European-style social model with European-style taxation and regulation systems, and “become something different”.

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The China trade reality show

Posted by seumasach on December 4, 2018

The rise of China to global economic dominance is indeed unstoppable: the question is whether the USA can engage constructively with China and share to some degree in the success or whether it will fall into 4th world status.

David P.Goldman

Asia Times

4th december, 2018

For at least a month, there has been no doubt that Presidents Donald Trump and Xi Jinping would agree to agree at the Buenos Aires summit. The threats, remonstrations and hints of high officials were for the most part scripted. Buenos Aires was less negotiation than reality show.

When the dust settles, America and China will have a deal that allows Trump to claim victory and allows China to become the world’s dominant economy.

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Trump opens way for China deal

Posted by seumasach on December 4, 2018

Cailein Bochanan

4th December, 2018

The G20 summit meeting between Trump and Xi has ended on an upbeat with the declaration a  truce  and a 90 day period in which to consolidate a deal. Xinhua has welcomed  what it describes as a consensus in rather glowing terms

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US can avoid Afghan quagmire with Russia’s help

Posted by seumasach on November 19, 2018

M.K.Bhadrakumar

Strategic Culture

15th November, 2018

The most significant remark made by Foreign Minister Sergey Lavrov at the second meeting of the Moscow format consultations on Afghanistan held in the Russian capital on November 9 was when he said, “We must not think in terms of geopolitical games, which can only make Afghanistan an area of international rivalry with grave consequences for the people of Afghanistan and their neighbours.”

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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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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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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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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.

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