Live images flashing byLike windshields towards a flyFrozen in that fatal climbBut the wheels of time, just pass you by-RUSH, “Between the Wheels” In part I of this series I told you the war over the US dollar was over because the bane of domestic monetary policy, Eurodollar futures, lost the battle with SOFR, the…
And the Fed has won. In the words of Ambassador Kosh from the classic television series Babylon 5, “The avalanche has started. It is too late for the pebbles to vote.” For nearly the past two years I’ve been a nearly lone voice in the wilderness questioning the financial orthodoxy over the behavior of the…
Back in 2010, the South Sudanese Government was warned by students who majored in economics that using the US dollar for local transactions would pose an economic risk to the country, and they were right. The Sudan Tribune report described the students concerns about the government’s dollarization of South Sudan’s economy, “Southern Sudanese students studying…
The world is yet to see how dangerous the decade before us will be, what the new global geopolitical architecture will look like and who is to build it. Russian Foreign Minister Sergey Lavrov mentioned in his address to his colleagues on 10 February 2023 in Moscow: “All of us are professionals and we are…
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…
