Wednesday , October 30 2024
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Mike Norman Economics

Rate policy

Democrat rate policy still has US overnight risk free IOR rate at 4.9% so what is so bad about a 10yr risk free UST rate of 4.2%?  It’s still significantly inverted over time …  usual Art degree moron suspects going apoplectic meanwhile a significantly inverted yield curve… hard to understand how these peoples brains work… 🤔

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Pepe Escobar —Date With Destiny–BRICS Offers Hope in a Time of War

Pepe Escobar summarizes the state of play at the outset of the BRICS conference as it begans in Kazan, the capital of Tatarstan, Russian Federation. The heads of the central banks have already met in Moscow in preparation for discussing initial steps in an overhaul of the post WWII Bretton Woods monetary system and associated institutions established by and controlled by the West, the US in particular. Expectations had begun to exceed reality and now they are more modest but still...

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BRICS plans ‘multi-currency system’ to challenge US dollar dominance: Understanding Russia’s proposal — Ben Norton

The BRICS Cross-Border Payment Initiative (BCBPI) will use national currencies, instead of the US dollar. Russia’s finance ministry and central bank released a report detailing plans to transform the international monetary and financial system.Geopolitical EconomyBRICS plans ‘multi-currency system’ to challenge US dollar dominance: Understanding Russia’s proposalBen Norton

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BRICS—facts and figures — Peter Hanseler/Denis Dobrin

IntroductionIn the first part of this year’s BRICS series, we described the geopolitical environment in which BRICS is currently operating and trying to evolve. This environment has changed for the worse since the last BRICS summit in South Africa last August.The consequence is that BRICS cannot develop freely, because on the one hand, the decisions – especially those of the USA – regarding the wars in Ukraine and the Middle East, the situation in the financial markets and finally the...

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