{"id":64359,"date":"2022-12-05T06:11:15","date_gmt":"2022-12-05T11:11:15","guid":{"rendered":"https:\/\/olduvai.ca\/?p=64359"},"modified":"2022-12-05T06:11:15","modified_gmt":"2022-12-05T11:11:15","slug":"winter-in-central-europe-and-for-the-dollar","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=64359","title":{"rendered":"Winter in Central Europe and for the dollar"},"content":{"rendered":"<h3 class=\"text-2xl md:text-3xl heading\"><a href=\"https:\/\/www.goldmoney.com\/research\/winter-in-central-europe-and-for-the-dollar\">Winter in Central Europe and for the dollar<\/a><\/h3>\n<div class=\"mt-8 leading-6 prose max-w-none md:mt-12 prose-p:text-gmy-dark prose-strong:text-gmy-dark prose-headings:leading-snug prose-headings:tracking-tight prose-headings:antialiased prose-headings:text-gmy-dark prose-a:text-gmy-dark prose-a:underline prose-a:hover:text-gmy-dark-gold \">\n<p><span dir=\"ltr\" lang=\"EN-GB\">In this article I examine the current state of the fight for hegemonic control between America on the one side, and Russia and China on the other. It is being fought on two fronts. Ukraine, the one in plain sight, is about to endure a winter without power and adequate food potentially leading to a humanitarian crisis.<\/span><\/p>\n<p><span dir=\"ltr\" lang=\"EN-GB\">The other front is financial with America facing a coordinated attack by Russia and China on its dollar hegemony. The Russians are planning a replacement trade settlement currency, which if it succeeds, could unleash a flood of foreign-owned dollars onto the foreign exchanges.<\/span><\/p>\n<p><span dir=\"ltr\" lang=\"EN-GB\">We have no way of knowing how advanced this plan is, but the indications point perhaps to a gold-based digital currency. Moscow establishing a new gold exchange, Asian central banks accumulating additional gold reserves, and Saudi Arabia seeking non-dollar payments for oil sales are all circumstantial evidence.<\/span><\/p>\n<p><span dir=\"ltr\" lang=\"EN-GB\">As well as these plans, there has been an underlying shift away from a long-term everything financial bubble, with the prospect of higher interest rate levels in time. The reasons for foreign ownership of fiat dollars are diminishing, and a successful new Asian trade currency will only add to the dollar\u2019s woes.<\/span><\/p>\n<p><span dir=\"ltr\" lang=\"EN-GB\">Could this pressure compel America de-escalate Ukraine and sanctions against Russia? The argument to do so has become compelling. It is also a way to lower energy prices, giving central banks needed room for interest rate manoeuvre.\u00a0<\/span><\/p>\n<p><strong><span dir=\"ltr\" lang=\"EN-GB\">Russia is making the most of winter<\/span><\/strong><\/p>\n<p><span dir=\"ltr\" lang=\"EN-GB\">The evidence that Russia is intent on breaking the will of the Ukrainian people is mounting. As the snow begins to settle, Russia is knocking out the power generation necessary to keep people warm and alive. It is a modern variation on the medieval siege. But instead of surrounding a city or castle and starving the residents into submission, by making conditions impossible they expect the Ukrainians to leave.<\/span><\/p>\n<p>\u2026click on the above link to read the rest\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Winter in Central Europe and for the dollar In this article I examine the current state of the fight for hegemonic control between America on the one side, and Russia and China on the other. It is being fought on two fronts. Ukraine, the one in plain sight, is about to endure a winter without [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[33451,124,130,951,4955,281,431,694,821,827],"class_list":["post-64359","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-alasdair-macleod","tag-central-banks","tag-china","tag-currency","tag-digital-currency","tag-europe","tag-interest-rates","tag-russia","tag-ukraine","tag-united-states"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64359","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=64359"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64359\/revisions"}],"predecessor-version":[{"id":64360,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64359\/revisions\/64360"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=64359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=64359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=64359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}