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
LONDON (Reuters) — Iran‘s Revolutionary Guards have started using a new route across the Gulf to funnel covert arms shipments to their Houthi allies in Yemen’s civil war, sources familiar with the matter have told Reuters.
In March, regional and Western sources told Reuters that Iran was shipping weapons and military advisers to the Houthis either directly to Yemen or via Somalia. This route however risked contact with international naval vessels on patrol in the Gulf of Oman and the Arabian Sea.
For the last six months the Islamic Revolutionary Guards Corps (IRGC) has begun using waters further up the Gulf between Kuwait and Iran as it looks for new ways to beat an embargo on arms shipments to fellow Shi’ites in the Houthi movement, Western and Iranian sources say. Continue reading
Turkey sent 200 cargo aircraft, loaded with goods worth more that $20 billion to Qatar, subjected to an economic blockade by the Gulf countries since early June due to its alleged terror support, Economy Minister Nihat Zeybekci said Tuesday.
“Turkey is not helping [Qatar], it exports the goods, which had been already paid for. We have possibly made ever largest operation on goods delivery by 200 planes,” Zeybekci told the local TRT television channel, adding that the supplied goods were worth over $20 billion.
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.
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
Berlin on Monday slammed Ankara’s refusal to allow German lawmakers to visit a NATO base near Syria and warned it could move its troops elsewhere.
The German foreign ministry described as “absolutely unacceptable” Turkey’s latest ban on a visit to the Incirlik base in southern Turkey, used by the international coalition fighting the Islamic State group.
Germany has about 250 military personnel stationed there, flying Tornado surveillance missions over Syria and refuelling flights for partner nations battling IS jihadists. Continue reading
AT LEAST 10,000 Islamic extremists living within Germany are being supported by Saudi Arabia and other Gulf countries, a shock new report has claimed.
The number of fundamentalists swearing allegiance to the Salafi group in Germany is on rise and Gulf countries have been accused of increasing their support to the terror cell.
German media claimed Berlin’s Federal Intelligence Service (BND) and the Federal Office for the Protection of the Constitution (BfV) have accused Saudi Arabia and Kuwait of funding religious groups and conversion groups, as well as financing the building of mosques and backing hardline imams.
The Gulf Cooperation Council (GCC) is concerned over a missing radioactive device from Iran’s Bushehr nuclear reactor, Saudi-owned Arab newspaper Asharq al-Awsat reported on Thursday.
Aside from the security concerns, at the forefront in the GCC’s mind is what impact the radioactive device—wherever it may be today—could have on water supplies.
According to the newspaper, the device went missing after the car transporting it was stolen. Thankfully, the vehicle was recovered, but the radioactive nuclear device was not so lucky. Continue reading
NESTLED in the mountains on the country’s stunning southern border with Austria is a typically idyllic German town.
But a quick walk around picture perfect Garmisch reveals how something decidedly exotic has taken hold.
The town is overflowing with signs written in Arabic, but they are not welcoming newly arrived refugees from war-torn Syria. Continue reading
The lagging economy in Saudi Arabia, combined with the drop in global oil prices, have resulted in approximately 10,000 Indian workers being stranded with no money and no food according to the New York Times. The Indian government is struggling to help the more than 10,000 people who have lost their jobs and, after not being paid for several months, have no way to get home and no money to survive. Continue reading
350,000 soldiers, 20,000 tanks, 2,450 warplanes and 460 mlitary helicopters is not a war drill. It’s the real deal. It would be great if this assessment was wrong, but amassing this insane of an amount can’t be for any normal drill. Historically, war season begins from March and ends in August, which makes this interesting to say the least as the 18 days of exercises spreads into the beginning month. Moreover, this isn’t all about Syria. It’s also about taking Iran out, Saudi Arabia’s enemy, who seeks to dominate the Middle East
What makes this even more dangerous is Pakistan’s involvement. They are a nuclear power who recently in January overtly threatened to wipe Iran off the map should harm come to Saudi Arabia. China has taken the side of Syria and should it get involved expect a Pakistani-Chinese exchange and even a possible strike from India on China. This whole event in the making would just open Pandora’s Box and many scenarios could unfold.
For anyone in the U.S. who thinks this will be “over there”, think again. Stockpile food now because the fallout would crash the markets and even spark terrorist attacks from thousands of sleeper cells on the American homeland due to western involvement.
If you think World War III is a joke or out of a question, then you really need to make a personal assessment. The facts are all there and everything is in motion to make it happen. Where this all currently leads, we can only watch and see.
350,000 soldiers, 20,000 tanks, 2,450 warplanes and 460 military helicopters are massing in northern Saudi Arabia for a military exercise that is being called “Northern Thunder”. According to the official announcement, forces are being contributed by Saudi Arabia, the United Arab Emirates, Egypt, Jordan, Bahrain, Sudan, Kuwait, Morocco, Pakistan, Tunisia, Oman, Qatar, Malaysia and several other nations. This exercise will reportedly last for 18 days, and during that time the airspace over northern Saudi Arabia will be closed to air traffic. This will be the largest military exercise in the history of the region, and it comes amid rumors that Saudi Arabia and Turkey are preparing for a massive ground invasion of Syria.
If you were going to gather forces for an invasion, this is precisely how you would do it. Governments never come out and publicly admit that forces are moving into position for an invasion ahead of time, so “military exercises” are a common excuse that gets used for this sort of thing. Continue reading
There are so many moving pieces surrounding this Riverine Assault boat seizure incident and the capture of 10 U.S. sailors. The pictures of our sailors on their knees, hands over their heads, is being displayed all over the world, and paraded about by our enemies. This is an utterly embarrassing moment and is not in keeping with the great traditions of John Paul Jones and Stephen Decatur. But I thought it important to take the time to provide an analysis of what we do know. Continue reading
If it’s not limited to ISIS, then this could also be perceived as a hedge against Iran and possibly a new bloc opposed to Israel.
“The countries here mentioned have decided on the formation of a military alliance led by Saudi Arabia to fight terrorism, with a joint operations center based in Riyadh to coordinate and support military operations,” the statement said. Continue reading
Such was the price to be paid for King Abdullah’s economic war on America’s oil independence from shale before he passed away. The Saudi-friendly IEA has said America will never take the crown from Saudi Arabia whereas a Saudi prince has mentioned oil will never see under $100 per barrel ever again. The baton has now been passed to King Salman and he will be continuing the attack for an indefinite duration.
In the end, it was a matter of who had more asset reserves: American oil companies or the Saudi coffers built on decades of exports.
In this game of economic chicken it looks like the American oil companies who are already down to the “bare bones” might be the first to blink, however, total destruction on both sides shouldn’t be dismissed.
- Estimate based on current fiscal policies amid oil’s slump
- Saudi authorities are already planning spending cuts
Saudi Arabia may run out of financial assets needed to support spending within five years if the government maintains current policies, the International Monetary Fund said, underscoring the need of measures to shore up public finances amid the drop in oil prices.
The same is true of Bahrain and Oman in the six-member Gulf Cooperation Council, the IMF said in a report on Wednesday. Kuwait, Qatar and the United Arab Emirates have relatively more financial assets that could support them for more than 20 years, the Washington-based lender said. Continue reading