Iran Just Officially Ditched the Dollar in Major Blow to US: Here’s Why It Matters

It’s not oil that is America’s Achilles Heel, it’s the U.S. Dollar. It’s the global reserve currency and was given that status by trading the world’s lifeblood of economies: oil. Take away the Dollar in trading of oil and you can take down the entire house of cards, in this case the U.S. The last couple of times this move was made, Ghadafi and Saddam Hussein were killed.

People politicized and speculated it was over oil, but missed the mark. America has all the oil it could ever need in its own backyard but not always the support it needs to sustain its lifestyle via waning Dollar hegemony when nations are banding together.

 

 

(ANTIMEDIA) Following President Donald Trump’s ban on travelers from seven predominantly Muslim countries, the Iranian government announced it would stop using the U.S. dollar “as its currency of choice in its financial and foreign exchange reports,” the local Financial Tribune reported.

Iran governor Valiollah Seif’s central bank announced the decision in a television interview on January 29. The change will take effect on March 21, and it will impact all official financial and foreign exchange reports. Continue reading

‘The pound is IRRELEVANT’ German financial giant Deutsche Bank in shocking Sterling swipe

Deutsche Bank

Deutsche Bank branded the pound ‘irrelevant’ [GETTY•ALAMY]

 

Britain’s currency is permanently tarred after the UK voted to leave the European Union (EU), according to one of the bank’s foreign exchange strategists.

As a result, the pound is set to lose its prized status as a leading international safe haven currency, said Robin Winklertold. Continue reading

Draghi Admits EU May Breakup For First Time

For the first time, the head of the European Central Bank, Mario Draghi, has conceded the possibility that the EU may fall apart. Draghi came out and said that any member leaving the Eurozone would need to settle its claims or debts with the bloc’s payments system before severing ties. This statement reveals the heated discussion at Davos and the rift that is beginning to spread. This statement, released on Friday, was made in a letter to two Italian lawmakers in the European Parliament. Continue reading

Turkey, ‘Axis of Gold’ and the End of US Dollar Hegemony

 

Introduction

With a ‘Hard Brexit’ looking more likely and Trump’s inauguration this week, 2017 is well and truly under way.

What we expect the year to hold is probably not even half of what it really will. But from what we know, the upcoming French and German elections, referendums, geopolitical crises, steps towards reverse globalisation and a third of global government debt yielding negative interest rates, governments are already prompting central banks and investors to turn to the one asset that has survived millennia of financial and monetary crises.

One that is highly liquid and convertible into other currencies – gold. Continue reading

Trump Takes On The Deep State

This is an article that merits a lot of attention. It explains what Donald Trump is really up against: A renegade “Deep State” that does what it wants, regardless of who is President, and can outlast many presidencies.

For archiving purposes, the article will remain in full here.

 

The tweet heard ’round the intelligence world.

 

 

  • Donald Trump engages in war of words with outgoing CIA head
  • Trump policies on trade, foreign policy depart from longstanding norms
  • Past events point to policymaking powers beyond elected officials
  • Russian relations a major sticking point between Trump, much of gov’t
  • Aggressive stance towards China could result in enormous market volatility

Last Sunday, US president-elect Donald Trump launched one of his now-trademark series of broadsides against the CIA, claiming that the latest series of leaks concerning his alleged misuse of a Moscow hotel suite previously occupied by president Barack Obama was a “complete fraud”.

Trump then compared the US intelligence regime to Nazi Germany in a tweet that called the leak, which alleged various colourful activities involving prostitutes, “fake news […] one last shot at me”. Continue reading

Dollar to hit parity with euro in 2017

 

The dollar is likely to hit parity with the euro during 2017 driven by diverging paths for interest rates, according to Goldman Sachs’ chief economist.

The Federal Reserve is likely to hike interest rates three times in 2017, pushing it even further from the rate positioning stance of Europe during the course of the year, Jan Hatzius told CNBC at the Goldman Sachs Strategy Conference in London on Monday. Continue reading

Scandinavia – Leader in the War on Cash

The real gem of this article is the last paragraph and its related photo posted below. Espionage, aiding and abetting the enemy by enemies within runs deep in America and has for decades.

money-plane-new-york-magazine-january-22nd-1996

The Scandinavian countries Sweden, Denmark and Norway are regarded as a pioneer in the the effort to eliminate money and move totally electronic. Denmark closed its final Mint outsourced the operation to Finland. This means that there is no coinage in the three states struck anymore. In this war on cash, about 20% of all transactions were settled in Denmark last year with cash. In Germany and Austria, cash transactions accounted for 80%. Scandinavia is pushing hard to eliminate all cash completely to enable 100% efficient tax collecting. Continue reading

Euro Crisis and Contagion Coming In 2017

A euro crisis and contagion is almost certain in 2017, Irish economist and writer David McWilliams has warned:

“It is almost certain that there will be another euro crisis in 2017. The last time we had a euro crisis, the focus of attention was Greece; today the vortex is Italy.

Italy is not Greece. Italy is the third-largest economy in the Eurozone. Italy is the second-largest manufacturing nation in the EU after Germany. Italy is the largest debtor in Europe. Continue reading

All Roads Lead to the Dollar

 

COMMENT: Marty; I have attended every conference since 2011. You have really opened my eyes and you have to be blind to not see that you have called everything trend from the decline in gold, rally in the Dow, collapse of Europe, the rise in the dollar, and the uptick in war/civil unrest not to mention your political forecasting. You should be hailed from every podium and the reason you are not is obvious. The conclusions you force upon the rest to see is against their own self-interest. All roads lead only to the dollar as you have said. Continue reading

War On Cash Intensifies: Citibank To Stop Accepting Cash At Some Branches

Less than a week after India’s surprise move to scrap its highest denomination cash notes, another front in the War on Cash has intensified down under in Australia.

Yesterday, banking giant UBS proposed that eliminating Australia’s $100 and $50 bills would be “good for the economy and good for the banks.”

(How convenient that a bank would propose something that’s good for banks!)

This isn’t the first time that the financial establishment has pushed for a cashless society in Australia (or anywhere else). Continue reading

Bank of Japan Going Even Deeper Into Negative Rates

Former Japanese Economy Minister Heizo Takenaka said on Wednesday the Bank of Japan will lower its minus 0.1 percent interest rate further to achieve its 2 percent inflation target.

(TRUNEWS Vero Beach, FL) – Takenaka stressed that “core-core inflation”, which excludes food and energy prices, rose around 1 percent last year, reversing the 1 percent decline seen before BOJ Governor Haruhiko Kuroda took the post early 2013.

“I think BOJ Governor Kuroda has been doing well, although there is strong criticism.” Continue reading

China Seeking to Succeed Where Japan Failed in Yuan Global Push

As China’s yuan takes the first steps toward becoming a global reserve currency, Japan offers a lesson on how hard it is to rival the dollar’s supremacy.

The Japanese yen’s share of global reserves reached a record 8.5 percent in 1991 as the nation’s post-War industrial boom made its economy the world’s second-largest. But its economic decline soon resulted in its clout shrinking as the euro gained ground and the greenback re-asserted its dominance. While the yen is still ranked third for trading and fourth for payments, it now accounts for just 4 percent of world reserves, compared with the dollar’s 64 percent and the yuan’s 1 percent. Continue reading

China’s Ambitious Plan to Make the Yuan the World’s Go-To Currency

China’s long-held desire to provide an alternative to the U.S. dollar will get a boost on October 1, when the yuan enters the International Monetary Fund’s basket of reserve currencies, placing it alongside the pound, euro, yen and dollar. The yuan’s ascent is a validation of the importance of the world’s second-biggest economy and the work policy makers have done to allow freer access to the nation’s markets.

Continue reading

The Coming Dollar Rally – Chaos in Europe

 

Margaret Thatcher was spot on when she warned that Britain would not join the Euro for the covert maneuvers behind the scenes was to create the federalization of Europe – their real dream to be the United States of Europe. Thatcher was betrayed by her own cabinet because some members also were dreaming to federalize Europe. Continue reading

Poland first in Europe to issue RMB debt in China

Poland has become the first European country to issue government debt into China’s mainland bond market, with a bond of 3 billion yuan ($452 million), marking a significant milestone for renminbi’s growing use internationally, which builds towards its reserve currency status. Continue reading