Yellen’s Shocking Announcement: The $USD is TOAST

 

Fed Chair Janet Yellen just announced that the Fed will be kicking the $USD off a cliff.

She didn’t use those words, but the words she did use weren’t all that different.

But first a little context… Continue reading

European Commission Trying to Seize Control of Euro

 

 

I reported previously that the European Commission is seeking to take the clearing of the Euro derivative transactions from London and move them to Paris. The European Central Bank (ECB) is warning that it must secure strong access rights for the supervision of the cross-border settlement of financial transactions after the departure of Great Britain from the EU. About 90%+ of all euro derivatives transactions are settled via clearing houses in London such as LCH.Clearnet. In the middle of a crisis, the ECB would have no power to shut the market to protect the euro from the free market forces. Of course, what they fail to grasp here is trying to seize the euro clearing and move it by decree to Paris will only undermine the euro even more. What will they do next? Forbid the euro to trade in New York, Chicago, or Asia? Do that and the euro will become a massive short.

Continue reading

Cash Is Falling Out of Fashion – Will It Disappear Forever?

 

On June 27, the ATM turns 50. Former US Federal Reserve Chairman Paul Volcker once described it as the “only useful innovation in banking.” But today, the cash that ATMs dispense may be on the endangered list.

Cash is being displaced in so many ways that it’s hard to keep track. There are credit cards and electronic payments; apps such as Venmo, PayPal and Square Cash; mobile payments services; cryptocurrencies that operate outside the purview of central banks; and localized offerings such as Kenya’s mPesa, India’s Paytm and Bangladesh’s bKash. These innovations are encouraging cashlessness across communities worldwide.

It’s reasonable to expect cash to follow the path of other goods that have been replaced by digital alternatives, such as photos, music, and movies. Will cash – and the ATMs that dispense it – experience a “Blockbuster” moment and disappear from our neighborhoods? Continue reading

Russia and China Move to Dump the Dollar, Threatening the New World Order

 

As long predicted, the dollar’s dominance on the world’s economic stage is wavering and likely to completely collapse soon given the move away from the dollar by Russia, Iran, and China. 

Many have been predicting it. This writer spoke of it as early as 2004. The elite have dreaded it. It’s finally happened. The dollar is soon to be removed as the trading currency for oil and other commodities among Russia, Iran, and China. The effect on the U.S. economy will be catastrophic. However, in the long run it will serve to force the U.S. into a regional, rather than a global role. Continue reading

China’s Red October

China’s Red October

 

The 19th National Congress of the Communist Party of China, CCP, will be held in the fall of 2017. The exact date has not yet been announced, but late October is a reasonable estimate. This will be the most important CCP meeting since the death of Mao Zedong and the rise of Deng Xiaoping in the late 1970s.

Communist societies such as China have a dual or parallel government structure. On one side is a normal government with a president, vice premier, cabinet ministers and other subordinate posts. On the other side is the CCP leadership consisting of a General Secretary, Politburo Standing Committee, Politburo, and Central Committee.

The seven-member Politburo Standing Committee runs the CCP. The General Secretary is the single most powerful person in the leadership. The conventional government is controlled by the CCP, which holds the real power.

Continue reading

EU Wants to Order All Euro Trading Moved from London to Paris

 

The European Union is preparing the legal basis to take over London’s extensive trading business with euro derivatives. This is just another complete failure of bureaucrats to comprehend market function. Perhaps they should also outlaw euro trading in the USA and Asia. That would be real smart. Then they can all sit down and play cards with euro themselves and guarantee it will never be anything to anyone else, no less convertible worldwide. Continue reading

Iran Signs Oil For Goods Deal With Russia: Breaks Free Of Petrodollar

Refinery

 

Iran signed an agreement with Russia under which it has broken free from the petrodollar, and will “sell”, or rather barter crude oil to Russia in exchange for products. The announcement was made by Iran’s Oil Minister Bijan Zanganeh, as reported by Russia’s RIA and TASS news agencies.

“The deal has been concluded. We are just waiting for the implementation from the Russian side. We have no difficulties; we signed the contract, everything is coordinated between the parties. We are waiting for Russian oil companies to send tankers,” he said, as quoted by Russian news agencies. While sanctions against Iran have been lifted, restrictions on trade in US dollars for the country’s banks remain, making it difficult to sell oil on the open market. Continue reading

A New Financial System is Being Born

 

If Bitcoin blew you away when you first discovered it, and continues to do so to this day, Spiral Dynamics can help explain why. Bitcoin was an expression in the physical world of the newly emergent leading-edge integral level consciousness. It drew lessons from history and attempted to take the best of orange and green worldviews and incorporate them into an entirely new form of money. We see the clear presence of free markets and individualism, as well as the intentional separation of the system from dominator hierarchies (bureaucratic government meddling), which had corrupted all money before it. Its greenness is evident in the fact that by design no individual or company controls the network. Global, decentralized, revolutionary technology. This is perhaps the perfect example of integral consciousness operating on our planet at this time from an economics standpoint, and why it has captured the imagination of so many, while at the same time being violently rejected by so many others.


Although I had heard about it much earlier, I didn’t truly start investigating Bitcoin until the summer of 2012. The more I learned the more my mind was blown away, and for a while I couldn’t think about anything else. What truly solidified its real world usefulness to me was when I discovered it had been used by Wikileaks to accept payments in the midst of a financial services blockade against the renegade publisher. This realization inspired my first Bitcoin related post in August 2012 titled, Bitcoin: A Way to Fight Back Against the Financial Terrorists?  Continue reading

Financial Crash Warning: Markets to ‘be hit’ by triple collapse ‘worse’ than 2008 crisis

crash

The next crash could be even bigger than 2008, according to Mike Maloney [GETTY]

 

THE next financial crisis will be worse than the collapse seen in 2008, and investors should seek shelter from the storm in precious metals and crypto currencies, according to an analyst who has predicted a triple market burst.

Mike Maloney said housing, bond and stock markets are now in for a big fall, after forming an ‘everything bubble’ which will have devastating effects when it bursts.

The crash will push investors into gold, silver and the likes of bitcoin, according to the gold analyst. Continue reading

China’s Plan to Subvert the Global Dollar Standard

Regardless of how it all plays out, the U.S. Dollar hegemony is under threat. There is indeed a replacement system ready to go, with America out of the picture. There is an alternative to the Dollar. There is an alternative to SWIFT. There is an alternative to the IMF and the World Bank. America, for all its greatness, is not untouchable.

 

 

If nothing else, the Chinese have a sense of history and destiny. They have had a glorious past, stretching back millennia, and once controlled most of the Asian heartland in the days of Genghis and Kublai Khan. But even then, China was essentially inward-looking, protecting her own cultural values. Trade with Europeans in the centuries following Marco Polo’s visit was mostly at the behest of European travelers, not the Chinese. She exported her art and culture to visitors, and did not import European values.

This was a mistake, implicitly recognized by China’s current leadership. This time, China has embraced Western thinking and technology to further her own progress. The development of the Shanghai Cooperation Organization in recent years is the platform for China in partnership with Russia to embrace the Asian continent through peaceful trade, improving the lives of all the citizens of the many nations who are and will become members. The SCO promises a revolution in the wealth and living standards of over 40% of the world’s population, and associated benefits for its supplier-nations on the other continents. Continue reading

Peter Schiff Warns This One Event Will Wipe Out Entire Generations of Retirees

In an interview with GoldSeek on April 14, outspoken economist Peter Schiff issued a dire warning to investors.

According to Schiff, a new housing bubble, an overvalued stock market, and President Trump‘s proposed stimulus plan will send the U.S. into extreme panic at some point in the near future.

In fact, Schiff thinks these catalysts will combine to cause an “inflationary maelstrom” that will “wipe out entire generations of retirees” who have their nest eggs invested in the market.

Let’s take a look… Continue reading

Trump Flips On Five Core Campaign Promises In Under 24 Hours

Blink, and you missed Trump’s blistering, seamless transformation into a mainstream politician.

In the span of just a few hours, President Trump flipped to new positions on several core policy issues, backing off on no less than five repeated campaign promises.

In a WSJ interview and a subsequent press conference, Trump either shifted or completely reversed positions on a number of foreign and economic policy decisions, including the fate of the US Dollar, how to handle China and the future of the chair of the Federal Reserve. Continue reading

IMF Issue Working Paper on Eliminating Cash

 

The International Monetary Fund (IMF) in Washington has published a Working Paper on “de-cashing” the economies and the implications. This paper clearly demonstrates that this is the direction we are headed into. It provides advice to governments who want to join in the latest thing – abolishing cash. IMF-Analyst Alexei Kireyev recommends in his conclusions: Continue reading

Russia and China Finding Ways to Avoid the U.S. Dollar

ISTOCK.COM/RONNIECHUA

 

It is becoming easier to imagine the coming post-American financial order.

At Bretton Woods in 1944, the world’s major powers settled on a new financial system. That system of world finance was dominated by America. When the system fell apart in 1971, countries switched to floating exchange rates, but the U.S. dollar remained the reserve currency. But today, in the post-global-financial-crisis world, Russia and China are finding new ways to avoid using the dollar. Continue reading