EU To Reduce Dependence On US Dollar As Sanctions Hit Trade With Iran

Source: https://eaworldview.com/

Plans to reduce European Union dependence on the US dollar have been rumoured for a while now, as China’s alternative to the Petrodollar continues to gain strength. The EU is not signing up to the move by Russia, China and the other BRICS bloc nations to replace the dollar but are thinking involvement with the emerging economies bid to break US economic hegemony will improve the 27 member Union’s ability to run an independent foreign policy without having to fear US bullying through sanctions for opposing Washinton’s attempts to dominate global political and economic events. The EU plan was unveiled on Wednesday by the European commission.

The proposal has gained support among European Union member states as companies in EU countries have felt presured to withdraw investments from Iran by the threat of punitive secondary sanctions from the US for any nation which permits its citizens or business community to trade with the Shi’ite Muslim theocracy.

The EU, unlike the US, wants to maintain the nuclear deal with Iran signed in 2015, but needs to deliver on its side of the bargain by increasing trade with Tehran. Less likely to be discussed in mainstream media is that European arms manufacturers, particularly those in Britain, Germany, France and, surprisingly perhaps, Sweden, will benefit greatly from a new arms race if they are in a position to supply both sides.

Iranian rulers are becoming impatient as the EU strives to create a financial mechanism to shield European exporters and importers from the effects of US sanctions on corporations, banks and individuals that continue to trade with Iran. US secondary sanctions can be applied on any European firm with links to the US market. I find this rather surprising as back in the 1960s when I studied economics, it was common knowledge that jurisdictions with lax trade regulation regimes like Panama or The Bahamas could be used to obfuscate paper trails and evade sanctions, tariffs and taxes.

The commission is perhaps reluctant to use Gibraltar’s port facilities for trans — shipping goods bound eventually for Iran because of the uncertain position of The Rock post Brexit. Instead Brussels is focusing on increasing the use of the euro in energy markets by creating a financial vehicle to facilitate settlement of oil contracts in the single currency, thus bypassing sanctions by avoiding any dollar transactions. Along with other such bilateral agreement systems, the plan is part of a longer-term move to “de-dollarise” the world economy.

Measures included in the EU policy involve using the euro as default currency in energy contracts agreed between EU member states and non-EU countries, as well as the creation of euro-denominated price benchmarks for crude oil. The EU is one of the world’s largest energy importers.

The commission press release also suggests the EU must develop “a full range of trustworthy interest rate benchmarks” in and a fully integrated instant payment system acceptable in all financial markets. The bloc will also seek to develop the role of the euro in foreign exchange markets.

In launching the long-term plan, EU economic affairs commissioner, Pierre Moscovici, said: “A wider use of the euro in the global economy yields important potential for better protecting European citizens and companies against external shocks and making the international finance and monetary system more resilient.”

The commissioner added these plans came “at a time where the recent global trends, the emergence of new economic powers along with the development of new technologies are supporting a potential shift towards a more diversified and multipolar system of several global currencies”.

Responding to the EU announcement an Iranian official said:
“Based on the news I recently received and was confirmed by a European commissioner, from now on, the EU is going to ditch the US dollar and just use the euro in the financial transactions of all European oil deals with other countries,” said Iran’s nuclear chief, Ali Akbar Salehi, on Thursday.

Speaking to reporters, the head of the Atomic Energy Organization of Iran (AEOI) said the amount of these transactions is more than €300 billion. “Previously, the EU used to pay 85 percent of the money for the oil it purchased from other countries in US dollars, but now with this new mechanism, all the money will be paid in euros,” he said.

Once the mechanism takes effect, the US dollar will be isolated as a global currency, and the US will no longer be able to use dollars in the current dominating way, Salehi added.

His comments came one day after the EU commission presented its plan to reduce the dollar’s overwhelming dominance of the global economy and to strengthen the role of the euro, particularly for energy transactions. There will be a lnee jerk reaction from the left of US politics, to blame Donald Trump for this development, the EU have already accused the Trump Administration of weaponising the reserve currency, although that is unfair because the US has used its position as holder of the reserve currency as a political weapon since the 1960s. In fact the move towards de-dolarisation, led by China, Russia and Iran, has been going on for some years now, the initial moves having been made early in the Obama era, though even before Obama took office there was widespread dissatisfaction with the way the USA used dollar dominance to influence political developments outside its borders. It has alredy attracted many trading partners, perhaps US economic belligerence is an attempt to combat this. If so it is the wrong approach.

European capitals have become increasingly frustrated with the global dominance of the dollar as a reserve currency, which hands the United States unparalleled diplomatic and economic power in a globalized world. This hostility was exacerbated when economic sanctions imposed on Russia after it’s annexation of Crimea in 2014. Many European nations were hit harder by those sanctions than Russia.

RELATED POSTS:

RELATED POSTS:
Iran moves against dollar
Currency war can end global US dollar dominance & those who own gold have power
Russia and China declare all out war on the petrodollar
Armageddon (poem)

A Profound Danger To The Dollar’s Reserve Status?

This blog and our larger sibling The Daly Stirrer have since 2012 been following moves in the international community, led by Russia and China to replace the US dollar as the global reserve currency, a status that has prevailed since 1974 when the USA concluded an agreement with Saudi Arabia, then totally dominant as the world’s largest oil producer, that all oil trades would be carried out in dollars – this was the birth of the petrodollar.

This agreement has since then given the USA a huge advantage over its trading partners, but the balance of power in the world has shifted with the break up of the Soviet Union, the liberalisation of China and the emergence of China as an economic power and of Russia as a major supplier of oil and gas.

You can follow the whole currency wars sage at our omnibus page, Currency Wars, and, while The Daily Stirrer is on a break, check out the latest development in the currency wars at Zero Hedge

Erdogan Vows To Abandon Dollar, “Doesn’t Need Permission” To Buy Russian Missiles

Another nutty rant by Turkish President Recep Tayyip Erdogan got the week off to a good start. His ire was aimed as usual at the USA, this time he threatened that Ankara would abandon the US dollar in transactions with Russia and other nations, accusing the US of behaving like “wild wolves.”

“America behaves like wild wolves. Don’t believe them,” Erdogan told a business forum during the Turkey-Kyrgyzstan Business Forum in Kyrgyzstan, according to AFP.

Erdogan’s latest outburst is a further sign that he is taking Turkey away from the west and strengthening ties with Russia, China and Iran. It echoed the dedollarization call from Russia’s deputy foreign minister Serkey Ryabkov, saying said that Turkey country was in negotiations with Russia over non-dollar trade. As we have reported elsewhere China has made the most significant move in this currency war by opening a maket for traded oil futures on the Shanghair stock exchange, thus challenging the supremacy of the US dollar in the world’s most traded commodity.

Using the dollar only damages us. We will not give up. We will be victorious,” Erdogan said, addressing a meeting attended by Kyrgyz and Turkish businessmen as well as government officials.

On August 24, Moscow said it would respond to Washington’s latest sanctions by accelerating efforts to abandon the American currency in trade transactions: “The time has come when we need to go from words to actions, and get rid of the dollar as a means of mutual settlements, and look for other alternatives,” said Russia’s Deputy Foreign Minister Ryabkov.

Erdogan further stirred the pot by saying that Ankara doesn’t need permission from anyone to purchase Russian S-400 missile systems, just days after the US once again warned the country against buying the highly advanced air-defense system.

“We have made S-400 deal with Russia. Someone is offended by it. We don’t need permission from anybody,” the Turkish leader said in Kyrgyzstan.

Last week US Defense Secretary James Mattis warned Turkey, a member of NATO but not a client state of Washington, against buying the Russian systems. “Turkey had a choice to make, a sovereign decision to make. But clearly Turkey bringing a Russian anti-aircraft, anti-missile system into a NATO country, we cannot integrate that into NATO,” Mattis said. “Yes, it does concern us and we do not recommend that.”

Russian S400 air defence system (picture: RT )

At the same time Erdogan’s government is trying to complete the purchase of American F-35 jets, which US lawmakers are trying to block due to Ankara’s S-400 deal.

Erdogan’s statement shows that Turkey is shaping its defense policy without any regard to the US, Igor Korotchenko, editor-in-chief of National Defense magazine, told RT. For Turkey, the purchase of these weapons means getting “a new geopolitical status of a country” that is able to fully control its airspace and, if necessary, use such weapons against its enemies, he said.

RELATED POSTS:

EU punishes Turkey For Repairing Relations With NATO Public Enemy No1 Russia

Leaving aside the current spat between The Netherlands and Turkey which is a different thing altogether, The EU’s diplomatic service is currently trying to punish Turkey for seeking better relations with Russia, after their supporting different sides in the Syria conflict brought the two nations close to war. It is true that NATO member Turkey has recently shown less commitment to the West, but there are probably good reasons for this …

Iran’s Ayatollahs save Syria Putin and
Now That Russia’s Putin and Iran’s Ayatollahs Have Neutralised ISIS in Syria the focus of terror shifts to Turkey, the NATO members that, with the fuill knowledge of the USA ans European powers has been helping ISIS in its bid to overthrow the Assad regime.

The Final Curtain For Hillary’s Presidential Dream

The Obama Administration helped ignite the civil war in Syria as “the best way to help Israel,” a newly-released Hillary Clinton email published by Wikileaks has confirmed. Silly Hilly, then Secretary Of State wrote: “The best way to help Israel deal with Iran’s growing nuclear capability is to help the people of Syria overthrow the regime of Bashar Assad.”

NATO Warships in the seas Odysseus Sailed Spell Trouble For EU

In an apparent effort to reduce the flow of migrants making their way from Turkey to Greece across the Aegean Sea, and because of the mistrust between the nations on either side of that body of water, pressure has been put on NATO (of which both Greece and Turkey are members)by the EU to deploy ships to the Aegean Sea …

Guess Which Political Grouping Wants To Legalise Incest and Necrophilia?

Has the headline sunk in. Yes it says there are people out there who want to legalise incest (brother /sister or parent / child sex) and necrophila (sex with dead people). Puzzled about who would want to legalise such repugnant things? I’ll give you a clue, they aren’t conservatives, libertarians or nationalists.

EU HoldsBack New Regulation For Fear Of Strengthening Brexit Case

The unelected leaders of the EU in Brussels are smothering discussion of new pan – European laws that would impact the United Kingdom and all other member states, increasing the amount of money they have to contribute to the EU budget and transferring yet more sovereignty to Brussels …

Road To World War III: Turkey Shells Syria For Second Day As Saudi Warplanes Arrive

The geopolitical world was rocked yesterday when Turkey began shelling Syria’s second largest city, Aleppo, where the Syrian opposition has its back against the wall in the face of an aggressive advance by the forces of President Assad’s government and the Iranian Republican Guard supported, of course, by Russian airstrikes.

 

Russia Says Time Has Come To Ditch The Dollar

Saturday 25 August

Picture: https://woodgatesview.files.wordpress.com/

As the US State Department unveiled the latest round of sanctions on Russia yesterday,  while the trade war with China that has seen tariffs imposed on a wide range of Chinese goods shows no sign of easing, Moscow signalled its intention to respond to this latest attack on its economy. In particular, the Russian government announced it is accelerating efforts to abandon the American currency in trade transactions, according to Russia’s Deputy Foreign Minister Sergei Ryabkov.

The time has come when we need to go from words to actions, and get rid of the dollar as a means of mutual settlements, and look for other alternatives,” he said in an interview with International Affairs magazine, he told RT.

“Thank God, this is happening, and we will speed up this work,” Ryabkov said, explaining the move would come in addition to other “retaliatory measures” as a response to a growing list of US sanctions. It is time mainstream media in the west started reporting accurately what is going on. The official position of the US is that their sanctions are in retaliation for various Russian acts such as meddling in the US election process, but in reality the USA is trying to protect its position as issuers of the reserve currency, while Russia, China and a number of emerging economies resent the way the US uses the reserve currency to dictate matters in global trade.

Previously, Russian Energy Minister Aleksandr Novak has said that a growing number of countries are interested in replacing the dollar as a medium in global oil trades and other transactions.

“There is a common understanding that we need to move towards the use of national currencies in our settlements. There is a need for this, as well as the wish of the parties,” Novak said.

According to the minister, it concerns both Turkey and Iran, with more countries likely to join the growing dedollarization wave.

Our reporting of this long running news thread tends to confirm his view.

“We are considering an option of payment in national currencies with them. This requires certain adjustments in the financial, economic, and banking sectors,” he said. Last week, we reported that the Kremlin was interested in trading with Ankara using the Russian ruble and the Turkish lira. India has also vowed to pay for Iranian oil in rupees. Some economists argue that modern technology removes the need for a reserve, the speed with which computer systems handle currency trades and conversions eliminated administrative bottlenecks.

Meanwhile, the world’s rapidly growing second-largest economy and Washington’s trade nemesis, China, has been taking steps to challenge the greenback’s dominance with the launch of an oil futures contract backed by Chinese currency, the petro-yuan. This is fully reported elsewhere in this page. China and Iran have already agreed to stop using the dollar in global trade as China has ramped up purchases of Iranian oil in defiance of US sanctions. India, Pakistan, the EU, Australia and Japan are also known to have made petr-yuan contracts.

RELATED POSTS:

NATO Rhetoric About Russian Threat is ‘Absurd’

The reasons being given for the latest NATO military buildup in Eastern Europe, the idea that the Russian ‘Russian threat’ to Eastern Europe grows every day is “simply absurd,” according to former US diplomat and Senate policy advisor Jim Jatras. Effectively, Jatras says, the buildup is an attempt by the US to keep Germany and France on board with Washington’s world domination agenda and …

The Demise Of Dollar Hegemony: Russia Breaks Wall Streets’s Oil-Price Monopoly

Significant moves in the global chess game have just rendered the huffing and puffing of warmonger Obama meaningless and will break Wall Street’s monopoly in controlling oil markets. The move is part of Vladimir Putin’s long-term strategy of decoupling Russia’s economy and especially its very significant export of oil, from the US dollar, in effect …

Naked Bankers Go For Gold

… That gold sale in 2013 was a naked short. The seller had no gold to sell. COMEX reported having gold only equal to about half of the short sale in its vaults, and not all of that was available for delivery (quite a lot of it belonged to the german government) In effect the naked shorting of gold could only work because really the right hand was selling to the left hand.

The Demise Of Dollar Hegemony: Russia Breaks Wall Streets’s Oil-Price Monopoly
In a move that went almost completely unreported in mainstream media, Russia has recently opened a market for the trading of physical and ‘paper’ oil (futures) in Moscow in Roubles. This is the most blatant challenge yet to the domination of the US dollar in world trade.

WMD in Mayfair

Recalling yesterday’s Machiavelli Blog which commented on events surrounding the unfortunate death of the alleged former Russian agent Alexander Litvinenko, it seems the murder investigation has now found evidence of many caches (well OK, traces) of radio active toxins in various fashionable establishments in London’s West End frequented by former Russian intelligence agents.

China launches global yuan payment system
China’s Central Bank has started a global payment system which provides cross-border transactions in yuan. The China International Payment System (CIPS) intends to internationalize the yuan and challenge the US dollar’s dominance.

Refugee Crisis Or Existential Battle With USA for Europe

It has been clear for some years now that the USA, backed by its main NATO and EU military allies the UK and France (the FUKUS axis has been trying to provoke Russian into firing the shot that will be heard around the world and recognised as the startiung signal for World War Three.
Nothing is ever as it seems to be however, and views from middle east and far eastern journals suggest the USA is also working at destabilizing EU nations in order to force their support in its wars.

EU and US talk of war with Russia

The European People’s Party (EPP) is the largest political group in the European Parliament, and they are unerringly supportive of America’s efforts to start a war with Russia. “The time of talk and persuasion with Russia is over,” MEP and Vice-President of the EPP told a meeting on Tuesday, 21 April, “Now it’s time for a tough policy, and concentration on defence and security …”

The Mediterranean Boat People Crisis – How Does Europe Deal With The Mediterranean Migrant Crisis

The numbers of migrants trying to cross from the Libya on the coast of north Africa to one of the EU’s southern nations is increasing. Europe’s impoverished southern nations can’t cope. And in the better off nations of northern Europe immigration is a toxic issue which is fuelling the rise of anti EU parties from France to Finnland in the north and Hungary in the east. What can be done?

This Is Why The US Just Lost Its Superpower Status According To Larry Summers

As more and more countries flock to join the Chinese led Asian Infrastructure Investment Bank after Britain, France Australia, India and other traditional US allies defied Washington to associate themselves with China’s initiative, conservative economic pundit Larry Summers once a contender for the chairmanship of the Federal Reserve delivered a sharp rebuke …

The True Debt Disaster America Faces – Only A Fraction Of Government Debt Is Known To The Public

Politicians and the media talk about the $17 trillion debt the US Government owes to creditors. They are lying, the $17 trillion is a fraction of what america owes. The real figure is $200 trillon. And Obama’s loonytoons economics are driving that up at an accelerating rate.

U.S. versus Russia War: Top Russian Politics Scolar Stephen Cohen Tells The Truth

We have been blogging for four years about the US drive for war, provocation of Russia in Syria, Iraq, Ukraine and elsewhere made it obvious. But I’m just a news junkie with a strong sense of curiosity and have wondered why the US seems set on this course. Good to see experts like Stephen Cohen, a prominent expert on, Russia are coming onside.

Does It matter If The Dollar Is Replaced?

“Without delving too deeply into Austrian economic and capital theory, just let me point out that money printing disrupts the structure of production by fraudulently changing the “price discovery process” of capitalism. Capital is allocated to projects that will never be profitably completed. Bubbles get created and collapse and businesses are suddenly damaged en mass, thus, destroying wealth. (Zero Hedge)”

What the BRICS plus Germany are really up to in the Currency Wars?

The move led by Russia and China to dump the Petrodollar has escalated into a currency war, not the kind of war we associate Obama with but give him time. Some wars as in Ukraine, by proxy are not going so well. Others, like the one against Islamic State aka ISIS aka ISIL in the middle east are going worse. Disintegration of The American Economic Empire is manifesting itself in moves by wannabe global players towards creating a multipolar world …

 

Dedollarisation contagion: Germany Calls For Global Payment System Independent Of US

In what can only been seen as a vote of “no confidence” in the US dollar as global reserve currency, which effectively gives the US a  monopoly over global trade settlements infrastructure, Germans foreign minister Heiko Maas yesterday called for the creation of a new payments system independent of the US that would allow Brussels to be independent in its financial operations from Washington and as a means of rescuing the nuclear deal between Iran and the west.

Maas may have stopped short of openly supporting the Russia / China bid to replace the US dollar, but and independent European settlements system would have to exclude the dollar in trades between European nations and the BRICS bloc.

The German daily Handelsblatt reported that Maas said “Europe should not allow the US to act over our heads and at our expense. For that reason it’s essential that we strengthen European autonomy by establishing payment channels that are independent of the US, creating a European Monetary Fund and building up an independent Swift system,” he wrote, cited by the FT.

Maas who has made clear his opposition to the US use of sanctions to maintain its stranglehold on world trade, said it was vital for Europe to stick with the Iran deal. “Every day the agreement continues to exist is better than the highly explosive crisis that otherwise threatens the Middle East,” he said. The unspoken subtext was clear: Europe is no longer willing to be a vassal state to US monopoly over global payments, and will now aggressively develop its own payments network that is not subservient to Washington’s every whim.


German foreign minister Heiko Maas (Picture: Zero Hedge )

Belgium basedSwift, global payment network owned by a consortium of banks, enables financial institutions worldwide to send and receive information about financial transactions. Swift is supposedly politically neutral and independent but it has been used to block transactions and enforce US sanctions against various countries, most notably Iran.

In 2012, the Danish newspaper Berlingske wrote that US authorities seized money being transferred from a Danish businessman to a German bank via the system for a batch of US-sanctioned Cuban cigars. The transaction was made in US dollars, which allowed Washington to block it although the USA has no legal or moral right to stop sovereign nations trading with any country they want to.

Thorsten Benner, director of the Global Public Policy Institute, a Berlin-based think-tank supported Maas’s, saying his intervention was the “strongest call yet for EU financial and monetary autonomy vis-à-vis US.”

The German foreign minister’s words emphasise the dilemma facing European politicians as they struggle to maintain trade relations with Iran while coping with the fallout of US sanctions imposed by the US against companies doing business with Tehran.

As the FT adds, the EU is determined protect European businesses from retaliation by Washington for trading with Iran, but has failed to convince EU companies more concerned about maintaining their access to the lucrative US market than in the more modest opportunities presented by Iran.

Last month Washington rebuffed a high-level European plea to exempt crucial industries from sanctions. Mike Pompeo, US secretary of state, and Steven Mnuchin, Treasury secretary, formally rejected an appeal for carve-outs in finance, energy and healthcare made by ministers from Germany, France, the UK and the EU.

Swift will also be affected. Unless it wins an exemption from sanctions, which is unlikely, it will be required by the US to cut off certain Iranian banks from its network by early November or face possible countermeasures against both its board members and the financial institutions that employ them.

Maas’s stark warning against US domination of global payments comes with relations between Germany and the US in their worst state for decades. Mr Trump has chastised Berlin over its large surplus in bilateral trade with the USA, its relatively low military spending and its support for Nord Stream 2, a new gas pipeline that will bring Russian gas directly to Germany.

In short: Europe has finally had enough and it plans on hitting Washington where it truly hurts: the money.

China’s Oil Futures Market Gains Momentum

“WTF has China’s new oil futures market to do with us Minds punters?” you might well ask.

It is in fact going to affect us all not just commodities traders, oil speculators and hedge fund managers. The thing is the Chinese (and their BFFs The Russians and Iranians did not just set up this venture because they fancied dabbling in the oil trade.

The launch of the gold backed Petroyouan on the Shanghai financial markets is the culmination of several years manoeuvreing by China and its allies to create a rival trading system to the Petrodollar which has dominated international trade for over forty years. I reported on the news HERE and in several other posts.

Few people are aware of how reliant the US economy has become on the position of the US$ as the global reserve currency. This is because mainstream media never reports on it and TV pundits dare not mention it for fear of losing their lucrative gigs as talking heads on TV. I have talked about it since the very beginning, when Saddam Hussein decided he didn’t need the Petrodollar, modern technology could trade his oil for any currency he fancied. And we all know what happened to him.

Nothing will change overnight, or next month or for several months, but gradually we will see a further shift of economic power from west to east. And that will affect prices, jobs, our standards of living and much more

RELATED POSTS:

Currency Wars

De – dollarization Moves Ahead – Once Again We Told You So

G77 Nations vow to destroy petrodollar and America’s New World Order

Petrodollar Alert: Putin Prepares To Announce ‘Holy Grail’ Gas Deal With China

China’ s Low Key Launch Of Its Challenge To Petrodollar Supremacy

petrodollar
Goodbye petrodollar, hello petroyuan? 

We have been blogging and commenting for several years on moves by Russia, China and Iran to replace the US dollar as the global reserve currency, or at least to create a serious rival to the dollar hegemony. There can be no greater threat to the established order (or to the global banking cartel’s dreamed of New World Order,) than the emergence of a serious rival to the dollar. As economic game-changers go there is none bigger or more disruptive than a yuan-denominated settlement system for crude oil contracts, especially when set it is set up up by the largest importer of crude on the planet and the second largest exporter of hydrocarbons.

Given the level of U.S. provocations of Russia and China over the past few years and the recent return to cold war conditions with a new arms race on the cards, perhaps we ought to be happy that the Russians and Chinese seem to prefer currency wars to shooting wars as both have demonstrated they have formidable arsenals of advanced weapons and it is far from certain the U.S.A. and NATO could take on either, let alone both simultaneously.

And yet Beijing’s strategy seems to be a softly softly approach. Oil trades are already being conducted in petro-yuan at the Shanghai International Energy Exchange is on hold. This may be related to US sabre rattling and concern that the US deep state, having no economic response to the move may react rashly if presented with a fait accompli. Thus the fact that China and its partners chose to play down the official launch of the new settlement system is understandable. There was room for some euphoria following the launch, Brent Crude soared to $71 a barrel for the first time since 2015. West Texas Intermediate (WTI) reached the highest level in three years at $66.55 a barrel; then retreated to $65.53.

The launch also signalled a series of “firsts” for China’s trade links with the west, including the first opportunity for overseas investors to access a Chinese commodity market. Significantly, US dollars will be accepted as deposit and for settlement. In the near future, a basket of currencies will also be accepted as deposit. This is entirely in line with the Sino – Russian policy of moving their economic partners towards conducting trades in the currency of the vendor nation.

Will the launch of the petro-yuan be a deathblow to the petrodollar and U.S. economic dominance and the birth of a new era in trade relations? It will but the change is likely to take years rather than weeks. Many variables have to be considered, the most important being China’s capacity to manipulate and eventually dominate the global oil market.

RELATED POSTS:

The Business of War: Defense Sales Keep Economies Of Manufacturing Nations Afloat
Tens of thousands have been killed and millions displaced due to ‘humanitarian’ interventions by the developed nations (led by the USA, France and the UKm the FUKUS axis) in the domestic politics of third world nation. Usually the interventions support rebel groups who if they came to power would be far more oppressive and brutal regime than the one they replaced.

Naked Bankers Go For Gold

… That gold sale in 2013 was a naked short. The seller had no gold to sell. COMEX reported having gold only equal to about half of the short sale in its vaults, and not all of that was available for delivery (quite a lot of it belonged to the german government) In effect the naked shorting of gold could only work because really the right hand was selling to the left hand.

“West’s War In Syria Is Part Of A Global war Waged By The USA And Its Dupes Allies Against Russia”

Arthur Foxake brings us a brilliant analysis of the geopolitical picture from the black Sea and Middle East, but ahead of the embed window we get a few of Arthur’s own thoughts on the situation

Russia Just Sent out a Message NATO Should Better Listen To

The key paragraph from the latest official Russian naval doctrine is that Putin and his military advisers have sent a clear message that NATO encroachment is unacceptable. To be honest, there is nothing earth shattering in this, The Daily Stirrer and many other alternative media news and analysis sites have been warning for about two years that Obama’s foreign policy was making conflict inevitable.

De – dollarization Moves Ahead – Once Again We Told You So,

What Putin Wants

China Warns U.S. to Stop Its Ukrainian Proxy War Against Russia

The World Rejects USA Attempt To Manipulate Venezuela

India’s Ruling BJP Party Crushed In Regional Poll

Another Conspiracy Theory Becomes Fact: Oil Collapse Is All About Obama’s Proxy War With Russia.

G77 Nations vow to destroy petrodollar and America’s New World Order

American Dollar Dumped

Iran’s Oil and the US Dollar

Money From Rock Better Than Money From Air

Strange things are happening in the finance markets, very strange. As the FT and Dow Jones main indexes go up and down faster than a whores knickers, commodity prices are behaving weirdly too.

Currency Wars

Back to Contents table

If You Look At How Fast Global Trade Is Unravelling, You’ll Get Dizzy

Governments constantly make positive noises about the health of their economies although most people who are in work have felt no improvement on the position they were in after the crash of 2008. Wagest are stangnant, employment has reduced somewhat (see below) and while the banks are printing money and the super rich are widening the gap between themselves and ordinary people faster than ever, the real situation is frightening.

Norway’s Biggest Bank Joins Push To Abolish Cash

The move by governments to eliminate cash as a means of trading goods and services is moving faster than we imagined. With another global financial crisis looming according to financial journalists and investment experts this is as understandable as it is undesirable for us ordinary punters.

Refugee Crisis Or Existential Battle With USA for Europe

It has been clear for some years now that the USA, backed by its main NATO and EU military allies the UK and France (the FUKUS axis has been trying to provoke Russian into firing the shot that will be heard around the world and recognised as the startiung signal for World War Three.
Nothing is ever as it seems to be however, and views from middle east and far eastern journals suggest the USA is also working at destabilizing EU nations in order to force their support in its wars.