The Iranian rial: crash. The Turkish lira: crash. The Argentine peso: crash. The Brazilian real: crash. There are multiple, complex, parallel vectors at play in this wilderness of crashing currencies. Turkey’s case is heavily influenced by the bubble of easy credit created by European banks. Argentina’s problem is mostly to do with the neoliberal austerity…
It seems that the Chinese leadership has concluded that the Trump Administration is determined to use its full spectrum radical leverage to hobble China as a rival, and to resurrect its own global domination – Xi seems to foresee a long struggle for position in the global future: one that will be played out geo-politically…
Central banks in several regions of the World are building up their gold reserves. A large part of these Central Bank purchases of gold bullion are not disclosed. They are undertaken through third party contracting companies, with utmost discretion. The evidence amply suggests that US dollar holdings and US dollar denominated debt instruments are being…
Trump’s attack on the Turkish lira, combined with recent Federal Reserve moves to choke off dollar supply, is pushing the world towards a re-run of the 1997 currency crisis. This may well be the whole point. Last Friday, Donald Trump announced new sanctions on Turkey – comprising a doubling of the steel and aluminum tariffs…
Everybody understands the importance of the dollar system as the Achilles heel for the US empire yet oddly, when analysing imperial action of Warshington of the last decades, the focus is usually on ideologies like Zionism or American exceptionalism, or on at most partial aspects such as fossil fuels and pipelines. Another focus, favored mainly…
The only new part of the ongoing Trump Administration economic warfare, a calculated assault on friend and foe alike from Russia to China to Iran to Venezuela and the EU, via so-called tariff war, is a President who uses Tweets as a weapon to throw opponents off balance. Since at least the beginning of the…
