Tag Archives: USD

Cross-posted from The Saker:  Introduction: After posting Michael Hudson’s article “America Escalates its “Democratic” Oil War in the Near East” on the blog, I decided to ask Michael to reply to a few follow-up questions. Michael very kindly agreed. Please see our exchange below.... Michael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismPersian PowerplayMichael Hudson | President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial...

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

I think this is partly correct. Probably more significant is the weaponizing of the USD in the economic aspect of hybrid warfare that the US is now carrying out against a number of countries a d sending a message that "you are either with us or against us" (ht G. W. Bush). Wars run two ways.Historically, gold has been the most secure reserve asset — the ultimate in safety, if one can protect one's gold holdings. Powerful nations are betting that they can do do in the event of loss of trust...

 It's on. China will soon be able to trade oil using its own currency by creating a futures market to rival the international benchmark contracts which are traded exclusively in dollars.  The China Securities Regulatory Commission confirmed its plans to begin the trade of yuan-based oil futures on the Shanghai Futures Exchange from March 26 on Friday.  China is now the world’s largest crude importer which is understood to be a large part of its drive to establish a benchmark which reflects...

The Oracle Master Persuader speaks. After Stephen Mnuchin failed to arrest the dollar's freefall this morning, it appears to have been left to President Trump to 'fix' it. In a brief clip from a longer CNBC interview, Trump explained "ultimately he wants to see a strong dollar" and the dollar spiked... As Scott Adams says, facts are meaningless; persuasion is everything. Trump gets that in spades. Zero HedgeDollar Surges After Trump Says "Mnuchin Was Misinterpreted, Dollar Will Get...

U.S. Treasury Secretary Steven Mnuchin welcomed a weaker dollar on Wednesday, sending the greenback reeling and underlining concerns that U.S. President Donald Trump is stepping up his attack on China and other big trading partners as part of his America First agenda.... ReutersU.S. official [Sec. Mnuchin] backs weak dollar amid fears of trade war Paritosh Bansal, Noah Barkin, Yara Bayoumyalso Explaining the "heresy."A weak dollar 'good' for the U.S.? It's complicated Richard Leongalso...

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...

The world’s top oil importer, China, is preparing to launch a crude oil futures contract denominated in Chinese yuan and convertible into gold, potentially creating the most important Asian oil benchmark and allowing oil exporters to bypass U.S.-dollar denominated benchmarks by trading in yuan, Nikkei Asian Review reports. The crude oil futures will be the first commodity contract in China open to foreign investment funds, trading houses, and oil firms. The circumvention of U.S. dollar...