Posts Tagged ‘new global financial architecture’
Posted by seumasach on September 26, 2018
“Creating “a defensible banking architecture” may well be the end goal for the Europeans, China and Russia, anyway. Iran is only a convenient pretext: the nuclear agreement is one of the few things that unite the EU, China and Russia against the U.S. But working to undermine the dollar’s global dominance isn’t ultimately about Iran at all. In his recent State of the European Union speech, European Commission President Jean-Claude Juncker called for strengthening the euro’s international role and moving away from traditional dollar invoicing in foreign trade. China and Russia have long sought the same thing, but it’s only with Europe, home of the world’s second biggest reserve currency, that they stand a chance of challenging American dominance.”
Bloomberg
25th September, 2018
With more and more European companies fleeing Iran following the re-imposition of U.S. sanctions, it may be tempting for Americans to write off Europe’s efforts to save the Iran nuclear deal. It would be wiser to resist the temptation.
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Posted in Battle for Europe, Currency Wars | Tagged: independent Europe, new global financial architecture | Leave a Comment »
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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Posted in Currency Wars | Tagged: demise of dollar, global reset, new global financial architecture | Leave a Comment »
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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Posted in Currency Wars | Tagged: demise of dollar, end of dollar as global reserve currency, End of empire, global reset, new global financial architecture, reserve currency status of dollar, SDRs | Leave a Comment »
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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Posted in Battle for Europe | Tagged: independent Europe, new global financial architecture, new global financial system | Leave a Comment »
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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Posted in Uncategorized | Tagged: de-dollarisation, decline of dollar, dollar collapse, End of empire, new global financial architecture, new global financial system, petro-yuan | Leave a Comment »
Posted by seumasach on June 19, 2018
Trump appears intent on undermining the whole US-led post-war, or rather post-1971, order. Here Hugo Salinas Price shows that the ever-growing US trade deficit is a necessary component of that order. It feeds US government spending and ensures the flow of dollar into the global system. Logically, the US must move from being the consumer of last resort to being once again a productive economy, another professed Trump goal.
Hugo Salinas Price
14th June, 2018
Way back in 1995, when Mexico was in the throes of another financial crisis, I figured out the problem of the existing world’s monetary system, based on the paper dollar as the fundamental currency of the world.
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Posted in Uncategorized | Tagged: new global financial architecture, rebuilding America, trump agenda | Leave a Comment »
Posted by seumasach on April 7, 2018
Alastair MacLeod
Gold Money
5th April, 2018
We have been here before – twice. The first time was in the late 1920s, which led to the dollar’s devaluation in 1934. And the second was 1966-68, which led to the collapse of the Bretton Woods System. Even though gold is now officially excluded from the monetary system, it does not save the dollar from a third collapse and will still be its yardstick.
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Posted in Uncategorized | Tagged: dollar collapse, gold standard, new global financial architecture, new global financial system, reserve currency status of dollar | Leave a Comment »
Posted by seumasach on June 3, 2017
Of course, China’s goal is not to destroy the dollar but to negotiate a new global monetary system, a currency reset, in which the dollar will continue to play a role, albeit a greatly reduced one. A yuan for Saudi oil deal would help to focus Trump’s mind on outcome, the best one he can hope for.
Daily Reckoning
31st May, 2017
China is currently modifying the terms of its oil trade with Saudi Arabia. Specifically, China is working on a deal to pay for Saudi oil using Chinese yuan. This effort poses a direct threat to the security of the dollar.
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Posted in Financial crisis | Tagged: new global financial architecture, new global financial system | Leave a Comment »
Posted by seumasach on January 25, 2017
The dollars will also be coming home. What this is leading too is the non-acceptance of dollars as international payment. However, Trump can resolve the debt issue through international agreement, above all, with China: a global reset, a trade-off between the declining hegemon and the new leader of globalization.
Economic Collapse
22nd January, 2017
While most of the country has been focused on the inauguration of Donald Trump, a very real crisis has been brewing behind the scenes. Foreigners are dumping U.S. debt at a faster rate than we have ever seen before, and U.S. Treasury yields have been rising. This is potentially a massive problem, because our entire debt-fueled standard of living is dependent on foreigners lending us gigantic mountains of money at ultra-low interest rates. If the average rate of interest on U.S. government debt just got back to 5 percent, which would still be below the long-term average, we would be paying out about a trillion dollars a year just in interest on the national debt. If foreigners keep dumping our debt and if Treasury yields keep climbing, a major financial implosion of historic proportions is absolutely guaranteed within the next four years.
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Posted in Financial crisis | Tagged: dollar collapse, End of empire, new global financial architecture | Leave a Comment »
Posted by seumasach on August 10, 2016
Britain’s post-Brexit foreign policy: detente with Russia, containment of China. This, presumably, is merely a reflection of US foreign policy- the culmination of the Obama doctrine and the policy basis of the next US presidency. There is a logic here: just as confrontation with both Russia and China is unrealistic, so is detente with both together. If we are to finally bring an end to the Cold War then this is to be applauded. Russia and China cannot be turned against each other: this is not 1972. At the same to “containment” of China may turn out to be just a posture, although a very expensive one, especially for the UK. Washington intends to hold back, Canute-style, the incoming waves of China’s economic development model, partly by mimicking it with a neo-Keynesian policy shift. Neo-Keynesianism in one country is not possible: it has to be carried out globally on the basis of a new global financial architecture, a reset of the global currency system. In the end , constructive engagement with our main creditor and the world’s productive centre is inevitable.
Theresa May speaks to Russian President Vladimir Putin for the first time since becoming Prime Minister
Independent
10th August, 2016
Theresa May has spoken to Russian president Vladimir Putin for the first time since she became Prime Minister.
The Kremlin said both leaders expressed dissatisfaction with UK-Russian relations and pledged to improve ties.
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Posted in brexit crisis, Containing China, Global peace process | Tagged: Chinese soft power, End of empire, New Cold War, new global financial architecture, Obama agenda, Russian diplomacy | Leave a Comment »
Posted by seumasach on February 18, 2016
GEAB
16th February, 2016
Precisely ten years ago (to the day), in its second bulletin of February 2006[1], warning about the imminent explosion of a «global systemic crisis”, the GEAB based its opinion on the identification of two strong signs: the end of the publication of the M3 money supply indicator[2] (suggesting a start to unusual degrees of the famous “money printing” which everyone has spoken about ever since); and the Iranian oil bourse launch – a country not yet constrained by international sanctions at the time – but a stock market based on the Euro[3]. These two strong signs enabled the GEAB team of that time to say that something big was about to happen, something which was going to bring into question the foundations of the system in which the economic-financial world was living at the time: the petrodollar and money-debt system.
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Posted in Financial crisis | Tagged: Multipolar world, new global financial architecture, new global leadership | Leave a Comment »
In These New Times 