Tag Archives: de-dollarization

[unable to retrieve full-text content]In this conversation with Geopolitical Economy Report editor Ben Norton, economist Michael Hudson responds to the misleading arguments against de-dollarization that New York Times columnist Paul Krugman made in his attempt to defend US hegemony and the dollar system. Hudson also discussed the ongoing US banking crisis and collapse of four banks in two months in Continue Reading The post Krugman Clings to Currency Tropes first appeared on Michael...

[unable to retrieve full-text content]In this episode of their program Geopolitical Economy Hour, Radhika Desai and Michael Hudson discuss de-dollarization, the global drive to drop the US dollar, and the transition away from financialized neoliberalism toward a new economic system. You can find more episodes of the Geopolitical Economy Hour here. Podcast Transcript (smoothed) RADHIKA DESAI: Hi everyone, welcome Continue Reading The post The QE Quandry first appeared on Michael Hudson.

There is a continually growing "club of very powerful countries" in the world, which have a strong "motivation to de-dollarize" their trade, co-director at the Institute for the Analysis of Global Security, Anne Korin warned in her interview with CNBC channel. She added that among the members of this "club" are "major movers" such as China, Russia and the European Union. The pundit explained that the shift was caused by certain practices, adopted by the US government in recent years....

Russia’s largest oil company Rosneft has already completed the switch away from the U.S. dollar to euros in its export contracts to minimize risks from potential new U.S. sanctions, Rosneft’s chief executive Igor Sechin said on Thursday.... Russia is looking at ways to settle its energy transactions in euros and/or rubles in order to avoid dealing with dollars, Russian Economy Minister Maxim Oreshkin told the Financial Times in an interview earlier this month. OilpriceOne Of The World’s...

A fair assessment from the American point of view, basically assuming American exceptionalism. Interestingly, the worst part of the article is the monetary analysis, considering the author is an economist working in the financial sector. Not surprising, though, since apparently so few have a correct understanding.The National InterestThe Gloves Are Off: The U.S.-China Trade War Is Coming for Big Business Scott B. MacDonald | Chief Economist, Smith’s Research and GradingsAlso at The...

Just not anytime soon though — although it could happen faster than anyone thinks if conditions change sufficiently enough. Mechanisms are being put in place. Interesting post, but you probably know most of this already.The HillThe end of the dollar as we know it Andy Langenkamp, Opinion Contributor

Bank of England Governor Mark Carney took aim at the U.S. dollar's "destabilizing" role in the world economy on Friday and said central banks might need to join together to create their own replacement reserve currency.… Boom!!! (Sound of heads exploding.)ReutersWorld needs to end risky reliance on U.S. dollar: BoE's Carney Writing by William Schomberg; Editing by David Milliken

US dollar now used to settle just 45 percent of exports to EU and China, and just one third of imports Checkpoint AsiaRussia’s Pledge to Ditch the Dollar Is Fast Becoming a Reality Andrey Biryukov, Bloomberg

The post is more about super-imperialism and neo-colonialism than de-dollarization. De-dollarization is a reaction to super-imperialism and neo-colonialism, just as previously there was a reaction to imperialism and colonialism. Michael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismDe-Dollarizing the American Financial EmpireBonnie Faulkner interviews Michael Hudson, President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial...

The Trump administration’s incessant sanctions wars are curbing the dollar’s global hegemony and speeding the demise of U.S. empire. Consortium NewsPATRICK LAWRENCE: Weaponizing the Dollar