Lega’s Salvini: Euro is wrong currency, we are working on Plan B



The Leader of Italy’s Eurosceptic, anti-mass migration Lega party has hit out at the Euro single currency once more, insisting that a government he led would ignore EU rules on it. Continue reading

Now, a Trade War — Is a Shooting War Next?



A popular thesis since the 1930s is that a natural progression exists from currency wars to trade wars to shooting wars. Both history and analysis support this thesis.

Currency wars do not exist all the time; they arise under certain conditions and persist until there is either systemic reform or systemic collapse. The conditions that give rise to currency wars are too much debt and too little growth.

In those circumstances, countries try to steal growth from trading partners by cheapening their currencies to promote exports and create export-related jobs. Continue reading

Turkey Will Be Ground Zero in the Next Global Debt Crisis



Turkey is a beautiful country with a rich history including Greek, Roman and Muslim influences that make it one of the most fascinating places on Earth. It is literally a bridge between East and West: The mile-long Bosporus Bridge just north of Istanbul connects Europe and Asia across the Bosporus Strait.

Turkey has been a magnet for direct foreign investment from abroad and dollar-denominated loans by international banks to local enterprises. This investment enthusiasm is understandable given Turkey’s well-educated population of 83 million and its rank as the 17th-largest economy in the world, with a GDP of just under $1 trillion. Continue reading

EU To Restrict Movement of Cash


The EU is now developing strict rules for carrying cash when traveling to non-European countries and returning to Europe. The revision of the First Cash Control Regulation from 2005, which stipulated that EU citizens should register cash in excess of € 10,000 when leaving the EU or when returning to the customs authorities have to, is what is under review. They want to lower the number and include gold, gemstones, and cash debit cards. Continue reading

The Political Turf War in Europe and why Britain is Considering Joining NAFTA


QUESTION: Marty; There is talk that Britain will join NAFTA rather than the EU. Does that make sense? What do you think? Continue reading

De-Dollarization & Disintermediation – Russian Mobile Phone Operator Issues First Blockchain-Backed Bond


For months now Russia has been moving into the blockchain space in a serious way. I’ve talked about these moves in previous articles(herehere and yes, even here)

But, the latest news is one that should have every one stand up and take notice.

Russian Mobile phone operator, Megafon, issued RUB500 million in zero-coupon blockchain-based bonds recently. This was purely a proof of concept issuance. Continue reading

Spain CHAOS as Catalans launch mass strikes in protest over referendum

Spanish Guardia Civil guards drag a man

Spanish Guardia Civil guards drag a man (AFP/Getty Images)


CATALAN independence protesters are holding strikes to bring swathes of the region to a standstill today in anger at the Spanish government’s refusal to accept the result.

Catalan trade unions and associates called for the action due to “the grave violation of rights and freedoms” seen when heavily armed Spanish officers clashed with voters on Sunday.

Madrid, which deemed the referendum illegal, deployed hundreds of officers in a last desperate attempt to stop the ballot from going ahead.  Continue reading

Cracks in Dollar Are Getting Larger


Many Daily Reckoning readers are familiar with the original petrodollar deal the U.S made with Saudi Arabia.

It was set up by Henry Kissinger and Saudi princes in 1974 to prop up the U.S. dollar. At the time, confidence in the dollar was on shaky ground because President Nixon had ended gold convertibility of dollars in 1971.

Saudi Arabia was receiving dollars for their oil shipments, but they could no longer convert the dollars to gold at a guaranteed price directly with the U.S. Treasury. The Saudis were secretly dumping dollars and buying gold on the London market. This was putting pressure on the bullion banks receiving the dollar. Continue reading

In Historic Speech, Macron Makes “Radical” Appeal For United Europe, Calls For “Military Intervention Force”

The construction of the United States of Europe and its European Army is still in full motion with Germany’s Fourth Reich at the helm and France toeing the line. This is barely beginning to be noticed by a few people but has been discussed and tracked on Global Geopolitics since 2011.



Just two days after the Alternative for Germany (AfD) party won a larger-than-expected 13% of the vote in Germany’s federal elections over the weekend – dealing a staggering defeat to Chancellor Angela Merkel’s Christian Democrat-led coalition which suffered its worst electoral showing since 1949 – French President Emmanuel Macron delivered a lesson in contrasts when he gave what the Financial Times described as the most integrationist speech by a French leader since the creation of the euro.”

Speaking to students at the Sorbonne in Paris, Macron said that “the challenge is vital: the sea walls behind which Europe has thrived have gone,” adding that we need to trace the only path ensuring our future; it is the refoundation of a sovereign, united and democratic Europe.

In other words, a United States of Europe. Continue reading

The Imperial Consensus

BERLIN (Own report) – With the Alternative for Germany (AfD), an extreme right wing party will enter the German Bundestag for the first time since the 1950s. With 13 percent of the vote, the AfD has successfully mobilized an extreme right-wing potential that, according to a sociological study, has always existed within the German population. All parties in the Bundestag openly repudiate the AfD. However, this only obscures the fact that the AfD’s program, particularly on the important issues of foreign and military policy, show remarkable parallels to the political objectives of almost all other parties in the Bundestag. Like the CDU/CSU, FDP, SPD and the Greens, the AfD sees Germany as a global “policy-making power,” whose armed forces should be massively upgraded and made more operational. Whereas, the mainstream parties in the Bundestag are relying on the EU as the instrument for German global policy, the AfD favors a national course for Germany exercising global power. This course would probably take effect should the EU disintegrate due to the growing internal dissentions or if more and more countries opt to exit.

Continue reading

The World Is Creeping Toward De-Dollarization

The issue of when a global reserve currency begins or ends is not an exact science. There are no press releases announcing it, and neither are there big international conferences that end with the signing of treaties and a photo shoot. Nevertheless we can say with confidence that the reign of every world reserve currency has to come to and end at some point in time. During a changeover from one global currency to another, gold (and to a lesser extent silver) has always played a decisive role. Central banks and governments have long been aware that the dollar has a sell-by date as a reserve currency. But it has taken until now for the subject to be discussed openly. The fact that the issue has been on the radar of a powerful bank like JP Morgan for at least five years, should give one pause. Questions regarding the global reserve currency are not exactly discussed on CNBC every day. Most mainstream economists avoid the topic like the plague. The issue is too politically charged. However, that doesn’t make it any less important for investors to look for answers. On the contrary. The following questions need to be asked: What indications are there that the world is turning its back on the US dollar? And what are the clues that gold’s role could be strengthened in a new system? Continue reading

Oil Rich Venezuela Stops Accepting Dollars

Source: The Burning Platform


  • President Maduro ‘ Venezuela will create a basket of currencies to free us from the dollar,”
  • Oil traders ordered to stop accepting U.S. dollar in exchange for crude oil
  • Order comes following calls from Russia and China to find alternatives to current reserve system
  • U.S. Dollar accounts for two-thirds of global trade
  • Venezuela has over ten-times more oil than United States
  • Super powers are gradually turning to gold to avoid using world’s main reserve currency
  • Are we seeing the beginning of the end for the U.S. dollar?

The oil-rich country of Venezuela has stopped accepting the U.S. Dollar as payment for oil.

Last week President Maduro warned that the country would this week ‘free’ itself from the US dollar. Continue reading

‘EU Army is Dangerous and Must be Stopped’, MP Warns


Britain will be the first of many nations to leave the EU, Daniel Kawczynski MP tells Westmonster.

The EU Army is dangerous, will be ‘a disaster’ and must be stopped from coming to fruition, Tory MP Daniel Kawczynski told Westmonster.

In a no holds barred interview, Kawczynski said he is absolutely certain Britain will be the first of many countries to leave the EU and added that he knows Eastern European nations are getting sick and tired of Brussels meddling in their domestic affairs. Continue reading

More than 1,000 Complaints Filed Against Merkel for High Treason

Photo courtesy of Westmonster


More than 1,000 complaints of high treason have been filed against German Chancellor, Angela Merkel, since she decided to welcome millions during the migrant crisis in 2015. Continue reading

The Monetary Crisis Cycle Comes in Two Flavours


QUESTION: Mr. Armstrong; I attended the Paris conference of the BIS when you were the keynote speaker. You delivered a forecast that was probably too far ahead for its time. You said the euro would go through and it would first drop but then peak with deflation in 2008 after the markets crash from 2007. You elaborated saying currency rises during a crash when people run to cash. You also said the euro would then decline for 13 years into 2021 before a new system will emerge.

That stuck in my mind and I watched it fall then rally into 2008 and the crash of 2007 you forecast some 10 years in advance. My question is simply this. You said, if I remember correctly, that the dollar would soar thereafter and we would see another monetary crisis as we did in 1985. Is this your Monetary Crisis Cycle you will reveal in Orlando?

I, and a few others from that conference, have bought tickets. I hope to shake your hand this time for a job well done for they would not have tried to stop you forecasting if you were like everyone else who are usually wrong. Continue reading