Posted by seumasach on June 4, 2021
3rd June, 2021
Speaking later on Thursday, Kremlin spokesman Dmitry Peskov backed the decision, saying that “the de-dollarization process is constant. It is, in fact, now visible to the naked eye.” He added that the move away from financial dependence on Washington “is taking place not only in our country, but also in many countries around the world, which have begun to experience concerns about the reliability of the main reserve currency.”
Posted in Currency Wars | Tagged: dedollarisation, dollar decline, new global financial system | Leave a Comment »
Posted by seumasach on July 20, 2020
This article is a revelation to me: I have been looking t this issue for some time but have been unaware of the EU’s preparatory moves towards a gold-backed international financial system. Despite the endless stream of ridicule directed against the EU leadership it would appear that something of real value has been accomplished. This all makes sense when we recall Giscard d’Estaing’s reference to America’s “exorbitant privilege” of being able to issue fiat to cover a permanent trade and capital deficit. Perhaps to complete the picture we only need to suppose a vast underestimate of China’s gold holdings.
Jan Nieuwenhuijs
15th July, 2020
Research reveals that European central banks have prepared a new international gold standard. Since the 1970s, policies that paved the way for an equitable and durable monetary system have gradually been implemented.
Posted in Currency Wars | Tagged: gold standard, new global financial system | Leave a Comment »
Posted by seumasach on August 22, 2018
Tyler Durden
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.
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
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.
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 April 7, 2018
Alastair MacLeod
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.
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 November 26, 2017
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.
Posted in Uncategorized | Tagged: BRICS gold-trading system, BRICS(Brazil-Russia-India-China-South Africa), decline of dollar, End of empire, new global financial system | Leave a Comment »
Posted by seumasach on September 14, 2017
13th September, 2017
Apparently confirming what President Maduro had warned following the recent US sanctions, The Wall Street Journal reports that Venezuela has officially stopped accepting US Dollars as payment for its crude oil exports.
Posted in Uncategorized | Tagged: dollar collapse, new global financial system | Leave a Comment »
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
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.
Posted in Uncategorized | Tagged: decline of dollar, dollar collapse, new global financial system | 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.
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.
Posted in Financial crisis | Tagged: new global financial architecture, new global financial system | Leave a Comment »
Posted by seumasach on December 15, 2014
US isolated, BRICS to get greater voting power at IMF
13th December, 2014
Months after the formation of new financial institutions like the $100 billion BRICS Bank and the China-led Asia Infrastructure Investment Bank, Christine Lagarde, managing director of the International Monetary Fund (IMF), said Friday that the organization is ready to discuss IMF voting reforms without the United States to give BRICS and emerging countries greater voting power.
Posted in Multipolar world | Tagged: BRICS(Brazil-Russia-India-China-South Africa), IMF reform, new financial architecture, new global financial system | Leave a Comment »
In These New Times 