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Tag Archives: reserve currency
Oil Bust Could End Dollar Domination
Oil Bust Could End Dollar Domination The US dollar survived the collapse of Bretton Woods in the ‘70s because its use in crude oil transactions made it the king of reserve currencies, but can it survive a collapse of petro dollars? Can the world survive the catastrophic geopolitical consquences that would follow? There is an […]
USA Losing Sovereignty to World Fiscal Mismanagement
USA Losing Sovereignty to World Fiscal Mismanagement The IMF and many economists (domestic and foreign) are now warning that a rate hike by the U.S. Federal Reserve, no matter when, will spark a major economic crisis in the emerging markets. They see this crisis being ripe for countries with high budget deficits, such as Turkey, […]
The Federal Reserve, Interest Rates and Triffin’s Paradox
The Federal Reserve, Interest Rates and Triffin’s Paradox There is no way Fed policy can be win-win-win for all participants. One result of the global dependence on central bank interventions is a unhealthy fixation on the slightest changes in those interventions, oops I meant policies. Since the slightest pull-back in central bank inflation of asset bubbles […]
Will the Chinese Yuan Now Demolish the “Dollar Hegemony?”
Will the Chinese Yuan Now Demolish the “Dollar Hegemony?” IMF boss Christine Lagarde is gung-ho about it. IMF staff is too. The Executive Board will consider it on November 30 and in all likelihood approve it. It will take effect in October 2016. Then it’s a done deal: the Chinese yuan will be added to […]
Something Happened
Something Happened Ben Bernanke’s memoir is out and the chatter about it inevitably turns to the sickening moments in September 2008 when “the world economy came very close to collapse.” Easy to say, but how many people know what that means? It’s every bit as opaque as the operations of the Federal Reserve itself. There […]
World Holds Breath, Waits for “Death of the Dollar”
World Holds Breath, Waits for “Death of the Dollar” Dismantling the dollar hegemony one yuan at a time. I’ve been asked many times about the impending “death of the dollar.” I know some folks who expect the dang thing to die. They’re already envisioning the spectacle. An entire industry has sprung up to prepare and equip […]
Russia Is Going To Pass A Law Formally Dumping The U.S. Dollar
Russia Is Going To Pass A Law Formally Dumping The U.S. Dollar Russian President Vladimir Putin has introduced legislation that would deal a tremendous blow to the U.S. dollar. If Putin gets his way, and he almost certainly will, the U.S. dollar will be eliminated from trade between nations that belong to the Commonwealth of […]
China Provides Another Threat to Oil Prices
China Provides Another Threat to Oil Prices First it was a stock market meltdown, now it’s a weakening currency. China continues to present significant risks to the oil market. On August 11, China decided to devalue its currency in an effort to keep its export-driven economy competitive. The yuan fell 1.9 percent on Tuesday, the […]
The Rise Of The Yuan Continues: LME To Accept Renminbi As Collateral
The Rise Of The Yuan Continues: LME To Accept Renminbi As Collateral As far-fetched as the notion may be to those who are wedded – by choice, by misguided beliefs, or by virtue of being completely beholden to the perpetuation of the status quo – to idea that the dollar will forever retain its status […]
The PetroYuan Is Born: Gazprom Now Settling All Crude Sales To China In Renminbi
The PetroYuan Is Born: Gazprom Now Settling All Crude Sales To China In Renminbi Two topics we’ve deemed critically important to a thorough understanding of both global finance and the shifting geopolitical landscape are the death of the petrodollar and the idea of yuan hegemony. Last November, in “How The Petrodollar Quietly Died And No […]
China Nears Global Reserve Status: “There Will Be a Reset of the Financial Industry”
China Nears Global Reserve Status: “There Will Be a Reset of the Financial Industry” The world is anticipating a new global reality with huge implications: China’s yuan is poised to get recognized as a global reserve currency. In a sign of the times, the IMF has essentially rebuffed U.S. claims of currency manipulation, to instead […]
George Soros Warns “No Exaggeration” That China-US On “Threshold Of World War 3”
George Soros Warns “No Exaggeration” That China-US On “Threshold Of World War 3” While admitting that reaching agreement between the two countries will be difficult to achieve, George Soros –speaking at The World Bank’s Bretton Woods conference this week – warned that unless the U.S. makes ‘major concessions’ and allows China’s currency to join the IMF’s basket […]
