Tag Archives: de-dollarization

Chinese Vice President Wang Qishan called on Russia to strengthen financial cooperation between the two states by increasing the use of national currencies in bilateral trade. The Chinese politician’s statements are in line with an offer by Russian President Vladimir Putin that suggested that both China and Mongolia join the Russian Central Bank’s financial messaging system and increase the use of national currencies in mutual trade. The president stressed that many countries, specifically...

I would add to government accumulation the likelihood that as incomes rise in the East there will also be increased demand from households. There already is.  In the West, physical gold is mostly bling, with much of the saving in gold held largely in derivates as financial saving. And, as Jesse observes, the "paper gold" — "digital gold" really — is an issue owing to hypothecation and re-hypothecation. In the East physical gold doubles as ornament and real saving. In addition, in...

De-globalization and the collapse of the Post WWII world order. Sailing into uncharted territory. Strategic Culture FoundationThe Dire, Unintended Consequences of Trump’s MAGA War on China Alastair Crooke | founder and director of the Conflicts Forum, and former British diplomat and senior figure in British intelligence and in European Union diplomacy See also Consortium NewsPATRICK LAWRENCE: Pompeo, Pence & the Alienation of Europe

It is clear that once dominance of the US Dollar and the system which sustains it is removed, consequences for the United States could be catastrophic. The question is NOT about IF US Dollar will survive as world's reserve currency--this is not even up for a debate--it is WHEN and HOW the departure will happen. Reminiscence of the FutureAbout US Dollar and Sanctions, Yet Again.Andrei Martyanov

Sputnik International interviews Michael Hudson. Audio and transcript.Michael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismSuper-Imperialism at the PentagonMichael Hudson | President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City, and Guest Professor at Peking University

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As a reminder, yesterday we reported that Europe has unveiled a "Special Purpose Vehicle" to do just that, which not only would bypass SWIFT, but potentially jeopardize the dollar's reserve status. As we explained, "given U.S. law enforcement’s wide reach, there would still be a risk involved, and European governments may not be able to protect the companies from it. Some firms will be tempted to try the new infrastructure, however, and the public isn't likely to find out if they do. In...

The Bank of Russia not going to resume purchasing foreign currency on behalf of the Russian Finance Ministry even if the there is a decrease in volatility in the foreign exchange market, First Deputy Governor Ksenia Yudaeva said on Thursday.... De-dollarization continues. Sputnik International Bank of Russia Won't Buy Foreign Currency Until Year’s End – Deputy Governor