Since 2012, there’s been an unprecedented call from foreign nations to repatriate their gold from Federal Reserve vaults in the U.S. This is an incredible development given many countries’ 71-year reliance on the Fed as a custodian for their bullion. Over the last few years, countries including, but not limited to, Germany, the Netherlands, France, Belgium, Austria, Poland, Ecuador, Finland, Switzerland, Venezuela, and Romania have either formally requested repatriation of their gold or are in discussions with the Fed about it. Some of these nations, mind you, have held more than 50% of their entire reserves of bullion in the U.S. since 1944, when the Dollar became the world’s reserve currency.
Something huge must have happened in the last few years to prompt such action. That something may be a break in foreign gold holders’ trust in the Fed as a custodian of their precious metals. Continue reading
Countries and international groups that have switched from US dollar to national currencies in trade. Continue reading
Please see the source for the video.
The data keeps pouring in. The U.S. economy is in trouble. All of the official statistics like job growth and economic recovery are based on lies and fabrications.
As Christopher Green of Alternative Media Television explains in his latest video commentary, those lies will eventually catch up with us and when they do the consequences will be impossible for most people to imagine.
You need to understand what’s coming… you need to understand the magnitude of the event ahead… this economic collapse that we’re living through today.
There is no recovery. There is no jobs recovery. There is no real growth in the U.S. today. It’s not that we don’t have great companies… it’s the system itself that is rotten to the core. It’s structural. that’s the problem with the system. Continue reading
Risks and Opportunities
Investors started off 2015 with a slow global economy, low oil prices, a strong Dollar, and a deflationary Europe with great uncertainties on the progress of the US economy and the recent launch of Europe’s quantitative easing. The question is, what opportunities lie ahead? This article highlights the main topics covered in an interview between Mr. Frank Suess, CEO and Chairman of BFI Capital Group, with the globally renowned Swiss fund manager, Mr. Felix Zulauf. Mr. Zulauf currently heads Zulauf Asset Management, a Switzerland-based hedge fund and has forty years of experience with global financial markets and asset management. He has been a member of the Barron’s Roundtable for over twenty years. Continue reading
NEW YORK (MarketWatch) — It’s probably not the dollar’s unrelenting march higher that is unsettling U.S. stock investors, but it might be the speed of the rally.
“I think what people are concerned about is the pace of the dollar strength,” Douglas Borthwick, managing director at Chapdelaine Foreign Exchange, in a phone interview, on Tuesday.
“Countries can always adapt to currencies strengthening or weakening, but certainly as the dollar strengthens very, very quickly it leaves very little chance for others to adapt,” he said. Continue reading
After the Swiss National Bank (SNB) has undermined global confidence in regulators, any sudden action by the US Fed might trigger a feverish buyout of the dollar, pushing its FX rate sky-high, demolishing the entire architecture of international trade in goods and services.
MOSCOW, January 21 (Sputnik), Kristian Rouz — The recent shock to the currencies markets, having come from Switzerland on 15 January, when the franc appreciated by 23% in a single-day trading session, has badly damaged the international financial stability, with capital leaving the Eurozone and investors feverishly buying out gold and US bonds. Such a dramatic change in FX rate of one of the global reserve currencies has triggered major debt risks worldwide, from Eastern European mortgages to Russia’s burden of excessive corporate debt. Now, across the Atlantic, the robust economic growth and market optimism in the US have spurred the anticipation of the Federal Reserve’s interest rate hike, inevitably triggering the dollar to strengthen. Continue reading
Back in November, before most grasped just how serious the collapse in crude was (and would become, as well as its massive implications), we wrote “How The Petrodollar Quietly Died, And Nobody Noticed“, because for the first time in almost two decades, energy-exporting countries would pull their “petrodollars” out of world markets in 2015.
We added that in 2014 “the oil producers will effectively import capital amounting to $7.6 billion. By comparison, they exported $60 billion in 2013 and $248 billion in 2012, according to the following graphic based on BNP Paribas calculations.”
The problem was compounded by its own positive feedback loop: as the last few weeks vividly demonstrated, plunging oil would lead to a further liquidation in foreign reserves for the oil exporters who rushed to preserve their currencies, leading to even greater drops in oil as the viable producers rushed to pump out as much crude out of the ground as possible in a scramble to put the weakest producers out of business, and to crush marginal production. Call it Game Theory gone mad and on steroids. Continue reading
Moscow warns it will respond to Washington’s ‘unfriendly gestures’; US Treasury enforces financial sanctions
MOSCOW — Russia on Tuesday angrily criticized the latest US sanctions, saying they could derail cooperation with Washington on dealing with the Iranian nuclear standoff and the Syrian crisis.
The Russian Foreign Ministry on Tuesday dismissed the new US sanctions as unfounded and warned Washington that its actions “are putting in question the prospects for bilateral cooperation in settling the situation around the Iranian nuclear program, the Syrian crisis and other acute international problems.”
“We haven’t left, and will not leave, such unfriendly gestures without response, as Washington might have seen,” the ministry said. Continue reading
Long Yongtu, former deputy minister of foreign trade and economic cooperation, said at a Beijing forum that China “should adopt some aggressive measures” as the ruble has nosedived about 60% against the US dollar since the beginning of the year. “When Russia is facing massive difficulties, (China should) show moral strength and economic support,” he said according to a report by China News Service.
Beijing is obligated to help its northern neighbor both from a strategic perspective and out of concern for the wellbeing of the Russian people, he said without elaborating on any specific measures. Continue reading
As I predicted last month in “We Have Just Witnessed The Last Gasp Of The Global Economy,” severe volatility is now returning to global markets after the pre-game 10 percent drop in equities in October hinted at what was to come….
This is not to say that individual central banks and even currencies are not expendable in the grand scheme of things. In fact, the long-term goal of globalists has been to consolidate all currency systems and central banks under the outward control of the International Monetary Fund and the Bank Of International Settlements, as I outlined in “The Economic Endgame Explained.”
That particular article was only a summary of a dangerous trend I have been concerned about for years; namely the strategy by international financiers to create a dollar-collapse scenario that will be blamed on prepositioned scapegoats. I have no idea what form these scapegoats will take – there are simply too many possible triggers for fiscal calamity. What I do know, though, is the goal of the endgame: to remove the dollar’s world reserve status and to pressure the American people into conforming or even begging for centralized administration of our economy by the IMF. Continue reading
Earlier this evening China’s State Administration of Foreign Exchange’s (SAFE) Wang Yungui noted “the impact of the Russian Ruble depreciation was unclear yet, and, as Bloomberg reported, “SAFE is closely watching Ruble’s depreciation and encouraging companies to hedge Ruble risks.” His comments also echoed the ongoing FXFX reform agenda aimed at increasing Yuan flexibility which The South China Morning Post then hinted in a story entitled “Russia may seek China help to deal with crisis,” which which noted that Russia could fall back on its 150 billion yuan ($24 billion) currency swap agreement with China if the ruble continues to plunge, that was signed in October. Furthermore, two bankers close to the PBOC reportedly said the swap-line was meant to reduce the role of the US dollar if China and Russia need to help each other overcome a liquidity squeeze. Continue reading
“Mutually assured destruction” was a doctrine that rose to prominence during the Cold War, when the US and the USSR faced each other with nuclear arsenals so populous that they ensured that any nuclear exchange between the two great military powers would quickly lead to mutual overkill in the most literal sense.Notwithstanding the newly dismal relations between the US and Russia, “mutually assured destruction” now best describes the uneasy stand-off between an increasingly indebted US government and an increasingly monetarily frustrated China, with several trillion dollars’ worth of foreign exchange reserves looking, it would now appear, for a more productive home than US Treasury bonds of questionable inherent value.
Until now, the Chinese have had little choice where to park their trillions, because only markets like the US Treasury market (and to a certain extent, gold) have been deep and liquid enough to accommodate their reserves. Continue reading
…and the fall of the Berlin Wall was indeed predicted.
Soviet defector Anatoliy Golitsyn, in New Lies for Old, had foretold and forewarned among many other things (with a 95%-plus accuracy) that it would go down.
There is very little precious time remaining on the clock for the United States which during the last 15 years or so somewhere down the road chose national suicide. A catastrophe is coming that will forever change it and create a new chapter in world history — one without the United States. As the author said, very few notice it coming or care to pay attention because their priorities are backwards and would rather follow the Kardashians and their favorite NFL team. The Shopping Mall Regime prefers going to Wal-Mart to, like cockroaches, scavenge and fight over cheap plastic garbage produced in China.
Note: Because the author of this article is so spot on, a majority of the article will remain here, but please check out the link for additional information.
It was widely expressed by the mainstream media of the time that the collapse of the Soviet Union and the fall of the Berlin Wall could not have been predicted. In hindsight, the stagnation and drop in oil prices should have been the obvious signs that a dramatic change was coming. And when the USSR began to borrow from western banks, the fix was in.
The inevitable policy shifts towards “perestroika” were obvious and planned well in advance. The agricultural crisis within the country was designed to parallel the mass movement towards “glasnost”, or openness.
When we consider the larger mandates of the CSI, Cultural and Socioeconomic Interception, the same machinations as “perestroika” and ‘glasnost” can be observed in the social fragmentation and devolution of the American middle class. Where the Soviet Union enacted policies which instigated the CSI changes within the country, it will be Americas lack of enacting policy change which will precipitate the implosion of its culture. Continue reading
The recent accumulation of gold by Russia’s central bank has sparked a discussion on whether gold standard would be an appropriate monetary policy measure for the struggling economy.
MOSCOW, December 4 (Sputnik) — Russia’s Central bank has demonstrated an increased scale of gold-buying this year, triggering diverse speculations both in the media and the expert community on whether it is a simple measure of supporting the price for the domestically produced metal, or part of a complex strategy in the economic standoff with the developed world. This way or another, there are voices suggesting its high time for Russia to introduce a gold exchange rate for the nation’s currency amid the prolonged ruble’s plunge in order to boost living standards, consumer demand and spur manufacturing sector. Continue reading
The BRICS Bank marks a major step to de-dollarization, and a new monetary system. It should replace the Western-dominated “predatory casino scheme” that has contributed to world wars and “economic terrorism,” says former World Bank economist Peter Koenig.
“A ‘BRICS system’ would offer a healthy alternative to the highly indebted and defunct dollar system, where money is printed at will,” Koenig said in an interview with Asam Ismi of the Canadian Centre for Policy Alternatives.
A ‘BRICS system’ should be based on a new currency, which Koenig called ‘Bricso.’ Continue reading