During the lengthy discussions which led to the 1944 Bretton Woods Agreement, economist John Maynard Keynes opposed fixed exchanged rates via-a-vis a gold backed US dollar. He instead proposed the creation of a super-national unit of account which he called the bancor. The justification behind a seemingly tedious accounting unit which could be purchased in…
Kuwait is a wealthy country per capita with a strong currency and good living standards. But if one ran afoul of the Kuwaiti government and was consequently sanctioned, would a lack of access to the Kuwaiti banking system, Kuwaiti currency, Kuwaiti products and Kuwaiti services really make a substantial difference to the average person’s life…
Today’s (13 May 2019) the first day in a long time financial markets appear willing to at least consider the reality of the geopolitical situation on the ground for what it is, as opposed to what most people would like it to be. As I’ve noted for months, the “trade war” is just one battle…
According to the agency South Front, the United States has transported approximately 50 tons of gold from the regions occupied by ISIS in the Deir ez-Zor Governorate. The Kurdish news source reports that the gold was stolen from Syria, and subsequently stored in an American military base, located in Ayn al-Arab. In addition, the Syrian Arab News…
The Syrian National News Agency headlined on February 26th, “Gold deal between United States and Daesh” (Daesh is ISIS) and reported that, Information from local sources said that US army helicopters have already transported the gold bullions under cover of darkness on Sunday [February 24th], before transporting them to the United States. The sources said that tens of…
As the remaining pockets of ISIS fighters faced imminent defeat in northeast Syria, the United States allegedly gave them an offer they couldn’t refuse: give us your massive caches of gold – or die. According to reports by Syrian state news agency SANA, U.S. forces struck a deal with ISIS whereby the terrorist group would give…
