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

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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

Russia Buys 300,000 Ounces Of Gold In March – Nears 2,000 Tons In Gold Reserves

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Russia buys 300,000 ounces of gold in March and nears 2,000t in gold reserves
– Russia now holds just over 1,861 tonnes, more than officially reported by China at 1,842t
Both Russia and China have the power to destabilise US dollar by dumping dollar-denominated assets
– Turkey has removed all gold held in the U.S. opting for Bank of England and BIS
– Turkey follows trend set by both Germany, Netherlands and others to remove gold reserves stored in the United States
– Central bank decisions regarding gold reserves are examples of countries becoming nervous about the outlook for the dollar under the Trump administration

Russia bought another 300,000 troy ounces of gold in March bringing Russia’s total gold reserves to 1,861 tonnes or 60.8 million troy ounces as of the start of April, the central bank announced loudly at the weekend.

The continuing robust and steady accumulation of gold reserves continues and it was notable how Russian media channels loudly (more loudly than usual it seemed with many outlets covering) pronounced the continuing diversification into gold bullion by the Russian central bank. It suggests that gold is being used as a bulwark to protect Russia from the stealth financial, trade and currency wars which appear to be deepening. Continue reading

Claims to Western Superiority

ELMAU/MOSCOW (Own report) – On the occasion of the G7 summit in Elmau, Bavaria, German government advisors are discussing the significance of the cohesion among the leading western powers. For quite a while, the G7 and G8 have been a sort of global policy “steering committee,” according to a recent analysis published by the German Council on Foreign Relations (DGAP). For the first time in 2008, the global financial crisis compelled the G8 to include other industrial and emerging countries in global consultations in the framework of the G20. By setting the agenda for the G20, the G7 seeks to safeguard its “leadership role” in global policy. At the same time, in Berlin one hears that Russia’s exclusion cannot be permanently advantageous. Since its exclusion, Moscow has become even more engaged in the BRICS alliance. Commenting on BRICS’ aims, experts write that its members are striving to “pit their collective political clout against the North’s claims of its superiority.” In a few weeks, BRICS will decide on operative steps in establishing a New Development Bank. As an alternative to the World Bank, it should become operational by the end of the year. Steps are also planned to undermine the US Dollar’s hegemony.

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