Washington must be getting nervous with the latest announcement from Iran’s state-owned oil company, the National Iranian Oil CO (NIOC) which declared that Iran will replace US dollars with Euros for its oil trades according to a Reuter’s…
Category: Korea
In the area of finance and creation of new financial institutions much hope of many nations has been placed on China. Last year China played a catalytic role in helping establish a new BRICS Infrastructure…
For decades the US has sought to stitch together a united front stretching from Central Asia, across Southeast Asia, and even into East Asia itself to encircle and contain China. From the 70 year occupation of Japan,…
The 20th Century was the most destructive era in history. Deaths from all the wars and the genocides estimated at 160 million may seem small if the planet descends into the approaching holocaust. Globalization is…
Dr. Hudson discusses his paper, The IMF Changes Its Rules To Isolate China and Russia; implications of the four policy changes at the International Monetary Fund in its role as enforcer of inter-government debts; the Shanghai Cooperation Organization (SCO) as an alternative military alliance to NATO; the Asian Infrastructure Investment Bank (AIIB) threatens to replace the IMF and World Bank; the Trans Pacific Partnership Treaty; the China International Payments System (CIPS); WTO investment treaties; Ukraine and Greece; different philosophies of development between east and west; break up of the post WWII dollarized global financial system; the world dividing into two camps. A New Global Financial Cold War A nightmare scenario of U.S. geopolitical strategists is coming true: foreign independence from U.S.-centered financial and diplomatic control. China and Russia are investing in neighboring economies on terms that cement Eurasian integration on the basis of financing in their own currencies and favoring their own exports. They also have created the Shanghai Cooperation Organization (SCO) as an alternative military alliance to NATO.[1] And the Asian Infrastructure Investment Bank (AIIB) threatens to replace the IMF and World Bank tandem in which the United States holds unique veto power.
Final Tests Completed China’s Largest Rocket The Long March 5 is shown in this undated picture being tested at the Wenchang Satellite Launch Center in Hainan province.[Photo by Sun Hao/China Daily] Powerful, heavy-lift Long March…
DPRK (aka, “North Korea”) has claimed that it successfully deployed an earth observation satellite into orbit, after its “long-range missile test” on Sunday… The rocket took off at around 12:30am GMT, according to the Joint Chiefs of Staff, which was tracking the flight path of the ballistic target. The US Strategic Command also detected and tracked the missile launch into space, Reuters reports. “NORAD determined that at no time was the missile a threat to North America,” the Strategic Command’s statement said. Several hours after the launch, the North announced that it had succeeded in placing a“newly developed earth observation satellite Kwangmyongsong-4” into orbit, KCNA reports. The satellite was launched aboard a “carrier rocket Kwangmyongsong” that blasted off from the Sohae Space Center in Cholsan County. The agency said that the satellite entered its preset orbit nine minutes and 46 seconds after the lift-off at 9:09am Korean time.
Russia reaps the rewards of dumping the dollar Russia is now the top crude exporter to China, the largest (or second largest, depending on whom you ask) oil demand growth country in the world. At…
Here’s what you need to know about the Syria peace talks: Four of the most powerful militias currently operating in Syria have been excluded from the negotiations. The Islamic State (ISIS), Jabhat al Nusra, the Syrian…
Let’s start with the IMF «reform» which will be in full effect in a few weeks. Even this mini «reform» had been repeatedly vetoed by the Empire of Chaos. Washington still holds the largest quota and voting shares in the IMF, ahead of Japan. But now China is in the 3rd place and BRICS members Brazil, Russia and India are in the top ten. This does not spell out radical change though. The US government still refuses to implement a full reform that will end up reducing the IMF’s global power. China, meanwhile, advances with facts on the ground such as the Asian Infrastructure Investment Bank (AIIB), and the BRICS with their New Development Bank (NDB), a serious attempt at breaking the stranglehold of a fraudulent – and hyper exploitative – monetary and financial system.