The agreement between the Central Banks of Russia and Iran formally signed on 29 January connecting their interbank transfer systems is a game-changer in more ways than one. Technically, from now on 52 Iranian banks already using SEPAM, Iran’s interbank telecom system, are connecting with 106 banks using SPFS, Russia’s equivalent to the western banking…
I wonder just what per cent of the population even knows about Bretton Woods and its implications for the global system. What goes around comes around, and the US and its economic allies, under the guise of the IMF and World Bank, Bretton Woods Entities that emerged in the wake of World War Two, have…
In recent years observers in many different countries have been warning ever more insistently about the inevitable collapse of the dollar – which Washington has inflated far above its true value. The US has experienced nine recessions since the beginning of the 1970s, and the dollar has fallen twice in real terms, from 1972-1974, and…
Let’s start with three interconnected multipolar-driven facts. First: One of the key take aways from the World Economic Forum annual shindig in Davos, Switzerland is when Saudi Finance Minister Mohammed al-Jadaan, on a panel on “Saudi Arabia’s Transformation,” made it clear that Riyadh “will consider trading in currencies other than the US dollar.” So is…
The US is facing major moves by the global community to de-dollarize their economies. The reserve status of the US dollar will eventually come to an end, maybe not anytime soon, but sometime in the future as it is facing numerous challenges not only from major powers such as Russia and China who are actively…
Consider this, Consider this the hint of the centuryConsider this, the slip, that dropped me to my knees, failed.What if all these fantasies come flailing around?And now, I’ve said…. too much— R.E.M. – Losing My Religion I probably should have codified these before the turn of the new year but I didn’t even think of…
