China’s Belt and Road summit has begun—and its outcome will put another nail in the petrodollar’s coffin Marcellus’ famous one-liner to Horatio—“Something is rotten in the state of Denmark”—could be updated in 2017 as “something is rotten in the state of the Union”. Does anyone else find it odd that one of the broadest geo-economic projects in recent…
If nothing else, the Chinese have a sense of history and destiny. They have had a glorious past, stretching back millennia, and once controlled most of the Asian heartland in the days of Genghis and Kublai Khan. But even then, China was essentially inward-looking, protecting her own cultural values. Trade with Europeans in the centuries…
In his first few days in office as President, ‘The Donald’ has fired off so many Executive Orders and aggressive tweets that much of the world is dizzy. One policy that’s clearly emerging from the smoke of immigrant ban attempts, XL Keystone pipeline approvals and bellicose threats against Iran, is the Trump team economic agenda,…
Moscow and Beijing took another step towards de-dollarization with the announcement of the opening of a renminbi clearing bank in Russia on Wednesday. Local currency transactions were first used in both countries’ border regions. Today, more and more Chinese and Russian financial institutes and enterprises are using local currencies to invest and settle accounts, as the yuan-ruble trade platform is…
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….
One of the world’s most important processes in recent years has been the weakening of the US dollar on the international currency market and the desire of many countries to abandon it in order to release their economies from US influence. The United States is resisting this process. Recently, the US created the Trans-Pacific Partnership:…
