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US Dollar as “Global Reserve Currency” amid Fed’s QE and US Government Deficits: Dollar Hegemony in Decline
US Dollar as “Global Reserve Currency” amid Fed’s QE and US Government Deficits: Dollar Hegemony in Decline Other options also shaky. Central banks leery of Chinese RMB, its share still irrelevant. Euro’s share is stuck. But the yen’s share has been rising. The US dollar’s position as the dominant global reserve currency is an immensely […]
China Tries to Muscle in on Dollar as Dominant ‘Payments Currency,’ But It’s a Thankless Slog
China Tries to Muscle in on Dollar as Dominant ‘Payments Currency,’ But It’s a Thankless Slog Dollar Hegemony is a tough nut to crack. China is taking another baby step in promoting the internationalization of the renminbi and nibble on the hegemony of the US dollar: It’s pushing a proposal to add a pile of […]
Trump’s Brilliant Strategy to Dismember U.S. Dollar Hegemony
Trump’s Brilliant Strategy to Dismember U.S. Dollar Hegemony The end of America’s unchallenged global economic dominance has arrived sooner than expected, thanks to the very same Neocons who gave the world the Iraq, Syria and the dirty wars in Latin America. Just as the Vietnam War drove the United States off gold by 1971, its […]
Venezuela Ditches US Dollar, Will Use Euros For International Trade
Venezuela Ditches US Dollar, Will Use Euros For International Trade Venezuela has just taken the next step in its quest to “free” itself from the tyranny of US dollar hegemony. One year after the country said it would stop accepting US dollars as payment for its (ever shrinking) oil exports (saying the country’s state-run oil […]
Sanctions, Sanctions, Sanctions – the Final Demise of the Dollar Hegemony?
Sanctions, Sanctions, Sanctions – the Final Demise of the Dollar Hegemony? Sanctions left and sanctions right. Financial mostly, taxes, tariffs, visas, travel bans – confiscation of foreign assets, import and export prohibitions and limitations; and also punishing those who do not respect sanctions dished out by Trump, alias the US of A, against friends of […]
US Dollar Hegemony Tripped Up by Chinese Renminbi?
US Dollar Hegemony Tripped Up by Chinese Renminbi? Um, no. Central banks not enthusiastic about the renminbi. Global central banks are not dumping US-dollar-denominated assets from their foreign exchange reserves. They’re not dumping euro-denominated assets either. And they remain leery of the Chinese renminbi – despite China’s place as the second largest economy in the […]
Dollar Hegemony – Real or Sophistry?
Dollar Hegemony – Real or Sophistry? QUESTION: Mr. Armstrong; I really wish I found you sooner. A friend of mine has been telling me to listen. He bought the Dow at 17,000 and sold it 26,000 on your advice. He paid off his house and has told me – see, I told you so. I […]
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 […]
Russia, China and the Battle Against Dollar Hegemony
Russia, China and the Battle Against Dollar Hegemony The Internal Contradictions of US Foreign Policy The Saker: We hear that the Ukraine will have to declare a default, but that it will probably be a “technical” default as opposed to an official one. Some say that the decision of the Rada to allow Iatseniuk to […]
