Iraqi Kurdistan’s independence vote may lead to an economic blockade from regional players and ethnic instability, analyst Hasan Abdullah told Radio Sputnik, adding that Turkey, Iran and Baghdad’s determination to thwart the Kurdish strive for sovereignty may convince Erbil to back off, while Israel’s support won’t help. The Kurdish independence referendum is likely to trigger a…
To a certain extent, Aung San Suu Kyi is a false prophet. Glorified by the west for many years, she was made a ‘democracy icon’ because she opposed the same forces in her country, Burma, at the time that the US-led western coalition isolated Rangoon for its alliance with China. Aung San Suu Kyi played…
Since the 1928 Red Line Agreement between British and French and American oil majors to divide the oil riches of the post-World War I Middle East, petroleum or more precisely, control of petroleum has constituted the thin-red-line of modern geopolitics. During the Soviet time Russian oil exports were largely aimed at maximizing dollar hard currency…
In a move that is largely seen as Maduro giving Washington the middle finger, Venezuela has made good on its promise to layoff the U.S. dollar, publishing its oil prices in yuan on Friday. Last Friday, Maduro had announced the forthcoming change, but that threat came after 14 years of similar threats, made by former…
Did the doomsday clock on the petrodollar (and implicitly US hegemony) just tick one more minute closer to midnight? Apparently confirming what President Maduro had warned following the recent US sanctions, The Wall Street Journal reports that Venezuela has officially stopped accepting US Dollars as payment for its crude oil exports. As we previously noted,…
The 1944 Bretton Woods international monetary system as it has developed to the present is become, honestly said, the greatest hindrance to world peace and prosperity. Now China, increasingly backed by Russia—the two great Eurasian nations—are taking decisive steps to create a very viable alternative to the tyranny of the US dollar over the world…
