Russia Finance Minister: We May Abandon Dollar In Oil Trade As It Is Becoming “Too Risky”

Breaking the tie between oil and the U.S. Dollar means the collapse of the U.S. Dollar as the world reserve country. Collapsing of the U.S. Dollar as world reserve currency means the collapse of America. Ghadaffi attempted it, as well as Saddam Hussein and look how that worked out for them. Iran, Syria, China, Russia all want to. Economic warfare always precedes a hot war, in case you were wondering what’s around the corner.

 

https://www.zerohedge.com/sites/default/files/inline-images/TIC%20Russia.jpg

 

One month ago, the bond market and political pundits did a double take when according to the latest Treasury International Capital report, Russia had liquidated virtually all of its US Treasury holdings, selling off the bulk of its US government bonds in just two months, March and April.

And with the US threatening to impose a new set of “crushing” sanctions on Russia, including in retaliation for the alleged Novichok nerve gas attack in the UK, Russia not only intends to continue liquidating its US holdings, but to significantly reduce its reliance on the US Dollar. Continue reading

Erdogan Warns Trump That Alliance Is at Risk as Tensions Climb

https://images.assettype.com/bloombergquint%2F2018-08%2Fdef71f5e-2e13-4b07-ba3d-cc769a6b3b6f%2F329213452_1_3.jpg

U.S. President Donald Trump, left, walks with Recep Tayyip Erdogan, Turkey’s president, ahead of an event in in Brussels, Belgium. (Photographer: Marlene Awaad/Bloomberg)

 

(Bloomberg) — Turkey’s President Recep Tayyip Erdogan warned the U.S. that its decades-long alliance with the country is at risk after rising political tensions between the two nations erupted and helped stoke a financial crisis that shook global markets.

Erdogan, in an editorial Friday in the New York Times, cited Turkey’s cooperation with the U.S. dating back to the Cuban missile crisis and the Korean War as evidence of a long-standing partnership between the NATO allies. But he added that more recent disputes over a failed 2016 coup, the conflict in Syria and sanctions imposed this week against top Turkish officials and the country’s steel industry were straining that alliance to its breaking point.

“Before it is too late, Washington must give up the misguided notion that our relationship can be asymmetrical and come to terms with the fact that Turkey has alternatives,” Erdogan wrote. “Failure to reverse this trend of unilateralism and disrespect will require us to start looking for new friends and allies.” Continue reading

Report: Cracks Forming in Chinese Leadership Over Trade War

https://image.zype.com/593087b25d3c19148e001735/5b6c95c55d363d236d00067d/custom_thumbnail/1080.jpg

(Photo Credit: The Kremlin/www.kremlin.ru)

 

One of Xi Jinping’s closest advisers is now on the hot seat in Beijing.

A new report today published by Reuters states that sources inside the Communist Party of China indicate the party’s leadership is growing increasingly divided over President Xi Jinping’s approach to the current trade war with the U.S.

The article focuses much of the internal consternation with Xi’s “ideology chief,” strategist Wang Huning, a prominent and influential academic whose “strident views on Chinese power” has attracted favor within several quarters of the CPC, but has also come under attack. He is also responsible for the “China Dream” espoused by Xi at the most recent party congress. Continue reading

Russia’s Medvedev: U.S. declares war on us

https://i2.wp.com/vestnikkavkaza.net/upload2/2018-08-10/15338881215b6d46799befb6.53066755.jpeg

 

The possible tightening up of U.S. economic sanctions against Russia may be treated as a declaration of economic war, which must be responded by all economic, political and other means possible, Russia’s Prime Minister Dmitry Medvedev said during his visit to the Far Eastern Kamchatka Peninsula.

During his visit to the Kronotsky State Nature Reserve, Medvedev was asked what sanctions could be imposed on Russia in the future and how they can affect the country’s economy.

“I would like not to comment on the talks about future sanctions, but there is one thing I can say: if measures like a ban on banking activities or the use of this or that currency follows, this can be clearly be described as a declaration of an economic war. And this war will have to be responded – by economic, political and, if necessary, other means. And our American partners should realize this,” TASS cited the PM as saying.

Continue reading

Iran ‘REVOLUTION IS COMING’ as 100,000 rush to streets chanting ‘DEATH to dictator’

https://cdn.images.express.co.uk/img/dynamic/78/590x/iran-news-1000562.jpg

Iran news: An expert has warned Iran is on the brink of a revolution (Image: P.M.O.I.)

 

IRAN is on the brink of a “revolution”, an expert has warned, as furious protestors take to the streets in their thousands to chant “death to the dictator”.

Tensions have reached boiling point in the Middle East nation after US President Donald Trump slapped Iran with tough economic sanctions aimed at further undermining the Islamic fundamentalist republic

Measures which target cars, gold and other metals trading, as well as the government’s ability to buy US dollars, came into force on Monday. Continue reading

China Taunts The US: “We Will Survive Your Trade War”

https://www.zerohedge.com/sites/default/files/inline-images/chinavsus.jpg?itok=dvfwZKfs

 

As tariffs are added and prices go up on goods and services to combat increasing government regulation of the economy, China insists it can handle a trade war with the US.  Of course, they can; since American consumers are going to be ones footing the bill for this horrific idea. Continue reading

EU Threatens Sanctions on Its Own Companies If They Side With the US

https://image.zype.com/593087b25d3c19148e001735/5b6af0c63efb04131a0016cb/custom_thumbnail/1080.jpg

(Photo Credit: Cabinet of Ukraine)

 

The confederation does about $9.7 billion in trade annually with Iran.

The European Union’s foreign policy chief warned businesses on the continent that they risk sanctions from the confederation if they dare break and abide by new U.S. sanctions against Iran, all but confirming what President Donald Trump said about the 2015 Joint Comprehensive Plan of Action nuclear deal. Continue reading

Ahmadinejad Urges End To US Dollar Hegemony: “Current [World] Order Needs To Change”

https://www.zerohedge.com/sites/default/files/inline-images/5b6981c0fc7e93231c8b456b.jpg

 

As US re-imposes sanctions on Iran, former two-term Iranian President Mahmoud Ahmadinejad has spoken out against the current US hegemony.

As RT notes, Ahamdinejad says the dollar is one of the major pillars of US dominance over global finance and trade; calling for change in the current world order. Continue reading

The Trade War Between the US and China Just Got Personal

https://image.zype.com/593087b25d3c19148e001735/5b68643ec6650d133f00a26b/custom_thumbnail/1080.jpg

(Photo Credit: Michael Vadon/CPAC)

 

Beijing’s state-run media unleashed a barrage of personal attacks against President Trump today.

As the trade war between itself and the Trump administration, Beijing got personal today, calling President Donald Trump “arrogant” and “deceitful” before vowing to “fight to the end,” and claiming the U.S. will only hurt itself. Continue reading

America’s About To Unleash Its NOPEC Superweapon Against The Russians & Saudis

https://orientalreview.org/wp-content/uploads/2018/08/OPEC.jpg

 

The US Congress has revived the so-called “NOPEC” bill for countering OPEC and OPEC+.

Officially called the “No Oil Producing and Exporting Cartels Act”, NOPEC is the definition of so-called “lawfare” because it enables the US to extraterritorially impose its domestic legislation on others by giving the government the right to sue OPEC and OPEC+ countries like Russia because of their coordinated efforts to control oil prices. Lawsuits, however, are unenforceable, which is why the targeted states’ refusal to abide by the US courts’ likely predetermined judgement against them will probably be used to trigger sanctions under the worst-case scenario, with this chain of events being catalyzed in order to achieve several strategic objectives. Continue reading

Who Does America Belong to?

Not to Americans

The housing market is now apparently turning down. Consumer incomes are limited by jobs offshoring and the ability of employers to hold down wages and salaries.  The Federal Reserve seems committed to higher interest rates—in my view to protect the exchange value of the US dollar on which Washington’s power is based.  The arrogant fools in Washington, with whom I spent a quarter century, have, with their bellicosity and sanctions, encouraged nations with independent foreign and economic policies to drop the use of the dollar.  This takes some time to accomplish, but Russia, China, Iran, and India are apparently committed to dropping  or reducing the use of the US dollar. Continue reading

IRGC Chief Calls Out Rouhani Over Iran’s Economic Woes

https://image.zype.com/593087b25d3c19148e001735/5b60bdf2e0dda91292000ff8/custom_thumbnail/1080.jpg

(Photo Credit: Radio Liberty)

 

Maj. Gen. Mohammad Ali Jafari is demanding immediate action to stop the rial’s freefall.

In an exceedingly rare public rebuke, the head of Iran’s Islamic Revolutionary Guards Corps has called out his country’s president, Hassan Rouhani, demanding that he do more to gain control of the nation’s economy, which appears to be in a rapid death spiral ahead of implementation next week of the first round of U.S. sanctions. Continue reading

Iran’s currency plummets further to 112,000 rial per dollar

The Iranian rial plunged to 112,000 for each US dollar Sunday on unofficial markets, a further decline from 97,500 rials on Saturday. Another 29 people were arrested on charges of disrupting the economy and corruption. With tougher sanctions in store, the outlook is bleak. Continue reading

Russia Is Preparing For A “Perfect Storm” In The Global Economy

https://www.zerohedge.com/sites/default/files/inline-images/TIC%20Russia.jpg

 

In recent months, Russia – some claim – has “strenuously prepared for Putin’s meeting with Trump”.

What does this mean?

Firstly, in April the Central Bank of the Russian Federation dumped nearly a half of US Treasuries that it had on its balance sheet, reducing their stock from $96.2 billion to $48.7 billion. Continue reading

The Trump Doctrine’s “Europe Card”

https://www.centerforsecuritypolicy.org/wp-content/uploads/2018/05/Donald_Trump_29496131773.jpg

 

Score one more for the Trump Doctrine.

Yesterday, President Trump declared a big “free and fair trade” win for his America First agenda at the expense of the European Union. But this deal is actually a two-fer. Continue reading