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

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

America’s Weapons: “The Dollar and the Drone”

 

It was said that “the guinea and the gallows” were the true instruments of British imperial power.

The guinea represented the coined wealth of Great Britain.

The gallows represented its… constabulary zeal in policing restless natives.

This is the 21st century of course… a time of enlightenment.

Today’s instruments of imperial power are no longer the guinea and the gallows.

No. Today’s instruments of imperial power are “the dollar and the drone.” Continue reading

Putin Rejects More Korea Sactions, Warns US Risks “Global Catastrophe, Huge Loss Of Human Life”

 

After UN Ambassador Nikki Haley asked the security council to pass the “strongest possible” sanctions against North Korea which was “begging for war” following the isolated nation’s sixth nuclear test which took place over the weekend, Russia President Vladimir Putin has hinted that Russia may – and most likely will – use its Security Council veto power to stop any further sanctions from being implemented.

Putin, who is in China for a meeting of leaders from the BRICS countries, said that sanctions at this point would be “counter-productive” and that US threats of military action could trigger “a global catastrophe and a huge loss of human life,” according to Reuters. Some US diplomats have quietly agreed with the Russian leader, noting that if the barrage of already imposed sanctions on Pyongyang hasn’t changed the country’s behavior, then any incremental actions would likely have no impact either. 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

World Leaders Gather in Beijing While the US Sinks into Irrelevancy

The United States is fractured and permanently scarred with very little diplomatic room to maneuver, and as the article states, doesn’t even know it. We’re looking at a new world shaping up within the next 10 years… a new world without the United States having a voice in its affairs. This is an unprecedented new chapter in world history that the old order doesn’t recover from. If you’re an American, get used to second or third-rate living standards and all the problems that come with it.

To add clarification: President Trump has a great chance in saving America from ruin, and let’s hope he will. Where he has almost zero chance is in saving it’s standing in the world. An alternative world structure has already been built and members are being filtered in. The ‘on button’ is waiting to be pushed. All that needs to happen is an event, such as global economic collapse, that sets America back and simultaneously provides the new world structure a window of opportunity to spring into first place.

 

World Leaders Gather in Beijing While the US Sinks into Irrelevancy

 

While vaudevillian comedy-like shouting matches broke out in the West Wing of the White House between President Donald Trump and his senior advisers and between the White House press secretary and various presidential aides, world leaders gathered in Beijing to discuss the creation of modern-day land and maritime «silk roads» to improve the economic conditions of nations around the world. Nothing more could have illustrated the massive divide between the concerns of many of the nations of the world and those of the United States, which is rapidly descending into second-rate power status, along with its NATO allies Britain, France, and Germany. Continue reading

Russia says to sign S-400 air defence deal with India

Russian President Vladimir Putin will seal a deal with Indian Prime Minister Narendra Modi during an upcoming visit to deliver Moscow’s most advanced air defence system, the Kremlin said Thursday.

“An agreement on the delivery of S-400 ‘Triumph’ anti-missile defence systems and other deals will be signed as a result of the talks,” Russian news agencies quoted Putin aide Yuri Ushakov as saying, without specifying a timeframe. Continue reading

China and India look to strengthen relationship

The two nations pledge to work together in hosting upcoming G20 and BRICS summits, and to cooperate more on economic and security matters

China and India vowed to enhance their bilateral ties and to cooperate in hosting the upcoming Group of 20 (G20) summit in Hangzhou as well as another meeting between emerging-market nations.

The pledge was made at a meeting between Chinese Foreign Minister Wang Yi and Indian Prime Minister Narendra Modi in New Delhi on Saturday. Continue reading

Germany Makes Gains in the Scramble Over Latin America’s Resources

https://images.thetrumpet.com/5747062d!id.14095

 

Latin America’s political shifts are opening doors for Germany’s economy.

Many nations today are casting their gaze upon a land where natural resources are found in abundance, where raw materials are yet to be extracted, and where renewable energy resources haven’t reached their full potential. They are ogling Latin America as a region that could help them secure their economic future.

For a time, China, and to some degree Russia, seemed to gain the upper edge.

But the Trumpet did not expect that arrangement to last. “[B]e assured that Europe will not stand by passively and allow Beijing and Moscow to elbow it off the dance floor,” we wrote last year.

Now, the political landscape in parts of Latin America is changing, which may open the door for greater German involvement. Continue reading

China Is Steering the World Toward War

 

Satellite imagery shows China taking over the South China Sea, as it is with other trade routes globally. Both history and biblical prophecy show why this is extremely dangerous.

Tensions are rising between China and America.

Ever since Xi Jinping took over as general secretary of the Communist Party of China, his administration has been militarizing the South China Sea and working to push the United States out of East Asia. In two island chains, the Paracels and the Spratlys, China is building a series of man-made islands, 800 miles from China’s shore. These islands are being installed with antiaircraft batteries and fighter jets are stationed on them.

The Spratly Islands are claimed by the Philippines, Malaysia, Taiwan and Vietnam. China is ignoring these nations’ territorial claims. China is being aggressive and provocative.

These militarized islands now function as forward bases for Beijing to challenge seven decades of American naval dominance in the Pacific Rim. This should alarm the world! Continue reading

Central banks are dumping America’s debt at a record pace.

It’s less about an economic crisis and more about an anti-American economic bloc undermining the U.S. global hegemony.

It’s BRICS versus America.

 

https://i0.wp.com/i2.cdn.turner.com/money/dam/assets/160516173150-us-debt-dump.jpg

 

China, Russia and Brazil sold off U.S. Treasury bonds as they tried to soften the blow of the global economic slowdown. They each sold off at least $1 billion in U.S. Treasury bonds in March.

So far this year, the global bank debt dump has reached $123 billion.

It’s the fastest pace for a U.S. debt selloff by global central banks since at least 1978, according to Treasury Department data published Monday afternoon. Continue reading

2016 – US dollar warning : the beautiful isolation of the « global reference currency »

Note for our readers : Following our monetary research work under the form of a surveillance of several months, our team is worried again about the US dollar. After a calming two year time, the dollar is heckled again within today’s new multi monetary world. Surprised by the conclusions of its own analyses, presented here below exclusively to you, our team of experts wishes to warn you, the GEAB readers, about the possible danger threatening the dollar. 2016 could very well be the year when the dollar wall will fall…

To explain the current financial turmoil, all official accusing fingers are pointing to a single guilty party: China, the ideal guilty player, the same way Greece and the euro currency were at their time. It is true that evidence seems to be on the side of those accusing fingers, due to the recently unstable Shanghai stock market and its low values. Continue reading

World War III Has Begun — Paul Craig Roberts

The Third World War is currently being fought. How long before it moves into its hot stage?

Washington is currently conducting economic and propaganda warfare against four members of the five bloc group of countries known as BRICS—Brazil, Russia, India, China, and South Africa. Brazil and South Africa are being destabilized with fabricated political scandals. Both countries are rife with Washington-financed politicians and Non-Governmental Organizations (NGOs). Washington concocts a scandal, sends its political agents into action demanding action against the government and its NGOs into the streets in protests. Continue reading

2016 – Red alert on the dollar, financial crisis, oil, banks… General strategic retreat in the perspective of an imminent “hard landing”

Our team has chosen to place 2016 under the sign of a “general strategic retreat”, affecting all levels of social organization, starting of course with the national levels, but not only.

This retreat (or fallback) will not yet represent in 2016 the end of the global mobility, of the international exchanges or of the internet, and the world will still be a global village this year. Nevertheless, we will see walls getting built, regulations being imposed, flows getting controlled, armies strengthened, markets fragmented … all this not on an international basis, since the failure of the global governance reform is striking, but on the basis of the only available political entities on the market: nation states, religious and ethnic groups, certain supra-national organizations and the local level. Continue reading

Russia, China develop navigation system draft for SCO, BRICS

Russia kicked GPS out of its country back in June of 2014, while BeiDou was first introduced in late 2012. Meanwhile, the aging U.S. GPS is on the verge of collapse.

A new world without the U.S. continues to form.

 

Russian and Chinese experts have developed a draft project to create a global international navigation system based on China’s BeiDou and Russia’s GLONASS satellite navigation for the member states of BRICS group and the Shanghai Cooperation Organization, Russian Space Systems company said in a statement on Tuesday. Continue reading