Tag Archives: de-dollarization

De-dollarization is official.It marks the return to national sovereignty, the Westphalian order, and multipolarism and away from neoliberal globalization, the Anglo-American Empire, and unipolarism.Donald Trump wanted bilateral trade agreements rather than multinational "free trade" agreements, but did he expect it to go this way?Zero Hedge"Thank God This Is Happening" Russia Says Time Has Come To Ditch The Dollar Tyler Durden

Turkish President Recep Tayyip Erdogan said on Saturday that his country is ready to trade with partner nations using national currencies. “We are preparing to carry out trade in national currencies with China, Russia, Iran, and Ukraine, which account for the bulk of bilateral trade. If European countries want to get rid of the pressure of the dollar, we are ready to create a similar system with them,” said the Turkish leader during a meeting in the Turkish city of Rize. Fort RussTurkey to...

Iran’s feud with the US is set to get worse after Tehran announced yesterday that it will start reporting foreign currency amounts in euros rather than US dollars, as part of the country’s effort to reduce its reliance on the American currency due to political tension with Washington. Central bank governor Valiollah Seif said last week that Supreme Leader Ayatollah Ali Khamenei had welcomed his suggestion of replacing the dollar with the euro in foreign trade, as the “dollar has no place...

Some steps have already been taken. We see new financial structures outside US control beginning to emerge, such as the Asian Infrastructure Investment Bank and the petro-yuan. Already financial journalists are speculating that the US decision to renege on the Iranian nuclear deal will strengthen the latter. I tend to the view that such developments are an inevitable part of the global shift in economic power. As the US declines in relative economic terms, its grip on international...

Russian aluminum giant Rusal has activated a contingency plan asking customers to pay in euros instead of dollars to try to skirt round U.S. sanctions, a source close to the matter said. De-dollarization. ReutersExclusive: Rusal triggers Iran-style defense after U.S. sanctions - source Dmitry Zhdannikov, Pratima Desai

Trump has been bragging about the stock market's gains, but what we don't hear about is the fact that the US dollar has eroded badly. Since his election the dollar has fallen to a 3-year low.Trump is destroying the US dollar.I called this at the time of the election and I said it was based, at the time, on two things. 1) Trump's  proposed expansion of fiscal stimulus. (More spending and tax cuts.) And, 2) the ongoing rate hike campaign of the Fed, which is inflationary and therefore NOT...

Is Bitcoin a Reaction to US Dollar Hegemony? Like Mike has been saying for some time. The DuranDe-dollarization and the rise of Bitcoin. Is there a connection between the two? Alex ChristoforouSee alsoThe iron fist of the US. As the launch of new ‘petro’ cryptocurrency draws near, a US government agency declared that this newcomer to the digital financial market may represent a violation of sanctions imposed against Venezuela, its issuer. Sputnik InternationalUS Treasury Warns About...

Trump may be reveling in the stock market's gains since his election victory, but the dollar is going in the other direction. It is getting killed.When Trump was elected the Dollar Index was at 98. Now it's at 90. Dollar/yen was at 118, now it's at 110. Euro/dollar was at 1.04, now it's at 1.23. British pound was at 1.23, now it's at 1.37. Canadian dollar was at 1.36, now it's at 1.24.Trump has been a disaster for the dollar.What's more, the dollar's fall is still in its early stages. With...