Former Assistant Treasury Secretary, Dr. Paul Craig Roberts, says, “Gold and the dollar are in a fight to the death.” Dr. Roberts explains, “The Fed, in order to save a handful of banks too big…
Tag: dollar
China Will Reopen the Old Silk Road as a New Trading Route Linking Germany, Russia & China Russia has just dropped another bombshell, announcing not only the de-coupling of its trade from the dollar, but also that its hydrocarbon trade will in the future be carried out in rubles and local currencies of its trading partners – no longer in dollars – see Voice of Russia Russia’s trade in hydrocarbons amounts to about a trillion dollars per year. Other countries, especially the BRICS and BRCIS-associates (BRICSA) may soon follow suit and join forces with Russia, abandoning the ‘petro-dollar’ as trading unit for oil and gas. This could amount to tens of trillions in loss for demand of petro-dollars per year (US GDP about 17 trillion dollars – December 2013) – leaving an important dent in the US economy would be an understatement.
As we documented in previous articles, the gold price is driven down in the paper futures market by naked short selling by the Fed’s dependent bullion banks. Some people have a hard time accepting this…
“If Americans keep believing the government’s lies, they have no future.” PAPERBACK EDITION HOW AMERICA WAS LOST From 9/11 to the Police/Warfare State by PAUL CRAIG ROBERTS available in US/Canada and Overseas VIEW TABLE OF CONTENTS…
Who does the US money belong to? The United States is the only state in the world destitute of the right to issue its own currency. The role of central bank is carried…
The Virtual Recovery Since mid-2009 the US has been enjoying a virtual recovery courtesy of a rigged inflation measure that understates inflation. The financial Presstitutes spoon out the government’s propaganda that prices are rising less than 2%. But anyone who purchases food, fuel, medical care or anything else knows that low inflation is no more real that Saddam Hussein’s weapons of mass destruction or Gadhafi’s alleged attacks on Libyan protesters or Iran’s nuclear weapons. Everything is a lie to serve the power-brokers. During the Clinton administration, Republican economists pushed through a change in the way the CPI is measured in order to save money by depriving Social Security retirees of their cost-of-living adjustment. Previously, the CPI measured the change in the cost of a constant standard of living. The new measure assumes that consumers adjust to price increases by lowering their standard of living by substituting lower quality, lower priced items.
Opinion: US fueling Diaoyutai dispute to protect the dollar After the dispute between China and Japan over the Diaoyutai (Diaoyu or Senkaku) islands in the East China Sea became more acrimonious, not only has the Japanese government’s position fail to gain the support of its diplomatic allies, but Japanese media outlets have also criticized the government as the disastrous effects on the country’s relations with China have caused enormous financial losses for the country’s economy. Meanwhile, some international media reports claims the dispute will allow the United States to profit because of the considerable liquidity flowing into the US from China and Japan, which could help the obstruct the rise of China’s financial sector at the international level. An opinion piece published in a foreign media outlet said that the reign of the US dollar as the world’s reserve currency was the main driver behind US economic growth.
10 Shocking Quotes About What QE3 Is Going To Do To America Ready or not, QE3 is here, and the long-term effects of this reckless money printing by the Federal Reserve are going to…
Nations have reached their limit in subsidizing the United States’ military adventures. During meetings in June 2009 in Yekaterinburg, Russia, world leaders such as China’s President Hu Jintao, his then Russian counterpart Dmitry Medvedev, and…
The BRICS – Brazil, Russia, India, China and South Africa – have agreed to provide credit to each other in local currencies. Officials say the deal will facilitate economic growth in times of crisis. The currency swap deal is aimed at promoting trade and investment in local currencies as well as to cut transaction costs. It’s also seen as a step to replace the dollar as a reserve currency in trade between BRICS. “The idea is in line with many interests and economic exigencies in the world economy,” Yaroslav Lissovolik, the chief economist at Deutsche Bank told RT. “The euro and dollar are no longer seen as unquestionable monopolies in the role of reserve currencies. Clearly the world needs more reserve currencies.” The deal would also increase the BRICS influence on the international arena and will make their cooperation less sensitive to sanctions from the West, experts say.