Posted by seumasach on November 10, 2019
3rd November, 2019
China has high ambitions for its state-controlled digital currency.
I wrote two months ago that its central bank digital currency could be imminent. And since foreign adoption of the yuan has been tepid so far, the technology also represents a massive bid to accelerate the internationalization of yuan.
Posted in Currency Wars | Tagged: Chinese soft power, demise of dollar, gold-backed cryptocurrency, gold-backed yuan | Leave a Comment »
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
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.
Posted in Multipolar world | Tagged: BRICS cryptocurrency, decline of dollar, End of empire, gold-backed cryptocurrency, gold-backed yuan, Rouble crytocurrency | 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
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.
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
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.
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 3, 2017
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.
Posted in Currency Wars, Multipolar world | Tagged: Chinese soft power, decline of dollar, gold-backed yuan | Leave a Comment »
Posted by seumasach on April 3, 2017
1st April, 2017
The Russian central bank opened its first overseas office in Beijing on March 14, marking a step forward in forging a Beijing-Moscow alliance to bypass the US dollar in the global monetary system, and to phase-in a gold-backed standard of trade.
Posted in Multipolar world | Tagged: gold-backed yuan, Russia-China cooperation | 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 October 22, 2013
F.William Engdahl
21st October, 2013
In the very days when a deep split in the US Congress threatened a US government debt default, the gold price should normally jump through the roof, yet the opposite was the case. It is worth a closer look why.
Posted in Currency Wars | Tagged: comex gold, gold manipulation, gold-backed yuan | Leave a Comment »
Posted by seumasach on August 20, 2013
Posted in Financial crisis, Multipolar world | Tagged: Chinese soft power, dollar collapse, gold-backed yuan, new financial architecture | Leave a Comment »
In These New Times 