Prominent Hedge Fund Manager Sees Dollar Losing Reserve Currency Status

While the liberal democracies, having allowed Cultural Marxists to infiltrate government at every level and implement socially and economically disruptive policies Ray Dalio, founder of Bridgewater, the world’s biggest Hedge Fund believes now is a good time to reflect on China’s progress towards its goal of replacing the USA as the world’s most powerful nation.

China’s growth as the size if its economy closes rapidly on that of the USA, speaks for itself, but Dalio adds:

“To have such rates of improvements in so many areas and for so many people has made it the greatest economic miracle ever.”

 

And from what Dalio has seen, he believes that the very impressive results that the Chinese leadership and the Chinese people produced came about primarily because of the powerful combination of a) China’s opening up and reforming following an extended period of isolation that led to a fast catching up (especially in the coastal regions of China) with the advanced developed world, and b) the power of the Chinese culture and it’s related ways of operating.

Crucially, Dalio points out that, if you haven’t spent time in China, you need to get any stereotypes you might have out of your mind because it’s not how it was. This is not your father’s communism. It is “socialism with Chinese characteristics” that has been significantly and very effectively reformed, which has made it much more vital, creative, and economically free.

Dalio’s ‘romantic’ view of a paternal China is definitely not the mainstream narrative:

“From my experiences and from what I am told by Chinese who should know, I believe Chinese leadership seeks to run the country the way they believe a good family should be run, from the top down, maintaining high standards of behavior, putting the collective interest ahead of any individual interest, with each member knowing their place and having filial respect for those in the hierarchy so the system works in an orderly way. One of China’s leaders who explained this concept to me told that the word “country” consists of two characters, state and family, which influences how they view their role in looking after their state/family.

One might say that the Chinese government is paternal. For example, it regulates what types of video games are watched by children and how many hours a day they play them. As a broad generalization, when the interest of the country (like the family) is at odds with the interest of the individual, the interest of the country (like the interest of the family) should be favored over the interest of the individual. Individuals are parts of a greater machine. As a result of this perspective, the system seeks to develop, promote and reward good character and good citizenship. For example it gives people a social credit score that rates the quality of their citizenship. And each person is expected to view themselves as parts of the greater whole.

This management from the top down includes visualizing what China 5, 10 and 20 years in the future should be like and then making and managing detailed multiyear plans to build out that vision, with the goal being to make China as great as it can be. China is run more like a giant company with many subsidiaries, some within the government’s direct control and some within its indirect control.

But, as the fund manager notes, while Chinese culture has been evolving, it has at its most fundamental level been operating in similar ways for many hundreds or even thousands of years and the results of operating that way are knowable in an approximate way.

I have recently been researching the rise and fall of reserve currencies, which led me to study the rises and declines of the world’s most powerful countries. That led my research team and me to put together the following indices of the relative powers of leading countries since 1500. These indices are a combination of six sub-indices that measure six different types of power:

1) innovation & competitiveness,

2) domestic output,

3) share of world trade,

4) financial-center size and power,

5) military strength, and

6) reserve-currency status.

…and they show when different countries reached their peaks relative to the rest of the world.”

And to support his position he has put together an impressive set of statistics showing how global and regional powers from Portugal in the west and China in the east, in the late medieval era, rose to economic dominance in the west, and how as Portugal declined to be replaced by Spain, then France, then The British Empire and finally the USA all rose to dominate while they had a stable culture and strong values, and all declined when political factors undermined that cultural stability and government started to medle in private affairs.

China on the other hand, dominated in the east from around 1200 to 1900 CE only being challenged by the British and the Japanese in India from the mid nineteenth century. China’s social system had stagnated through isolation, while Jaoan’s had been revitalised by contact forst with Portuguese and Dutch traders and then US government and business interests.

After the communists took over China’s still stagnant society the nation became even more isolated until the idealist Mao Tse Tung was replaced by equally totalitarian but more pragmatic leaders who opened up the country economically and allowed individualism and enterprise to flourish. The reformed communist party opened up the economy but maintained the cultural stability based on family, community and tradition.

And judging by Dalio’s take on American culture, it is clear where he thinks this is going…

“Most fundamentally, the US is a country in which individuals, individualism, and individual property rights are perceived to be of paramount importance it is directed from the bottom up (e.g., through “one man, one vote” democracies that empower people to choose their leaders), being revolutionary is considered a good thing, and conflict is valued more than harmony.

Rather than respecting top down control most American have a strong preference to keep government from interfering with their most individual choices. Character development is a personal or family issue, not a government issue (which leaves it largely neglected in areas with broken families, especially if they’re poor).

Rather than there being a long-term top down vision for the country and a plan to achieve that vision, in the capitalist and democratic system such directions are more bottom up determined based on commercial and popularity considerations.”

Thus Dalio comes to the conclusion that as the USA continues to fragment socially it’s economic decline will also continue, while the Chinese, bound by their strong and stable culture, will continue to forge ahead, with the inevitable result that the US$ will lose its reserve currency status, something which is already happening as we have reported HERE. Of course, the world’s largest hedge fund manager avoids directly slamming America’s ‘dream’ or supporting China’s central planners:

“I’m not saying which system is better. Each culture/system has its pros and cons that I’m not going to get into now.

I believe that the important thing to know are that while there will be trade wars and trade truces they aren’t the most important things. ”

So, in summary, “it’s not the economy, it’s the culture stupid!”

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.

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.

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 …”

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 assciate 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 …

 

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

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.

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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)

Theresa May Touts “Secret” Brexit Deal With EU – Instantly Blocked By DUP


Picture source: AFP / Getty

A report in the Sunday Times is accurate, May has assembled a detailed “secret” Brexit plan that, among other details, would kill off the controversial Northern Ireland “backstop” that had become the main obstacle to further negotiations.

Working in secret, May has reportedly developed a detailed, 50-page plan for a Brexit treaty that will allow the entire UK to remain within the EU customs union – that is, until a final deal can be hammered out during the transitionary period, which Brexiteers fear could mean “forever”.

As part of the new “secret” deal, May has effectively scrapped most of her controversial four-page “Chequers plan”, and replaced most provisions governing the single market and customs union with an agreement to hash out a “Future Economic Partnership” – essentially an open-ended agreement to continue negotiations that leaves open the possibility of reaching a free trade deal like the one enjoyed by Canada, a provision that is bound to appease at least some of the Brexiteers.

However, the Democratic Unionist Party (DUP) a Brexit-supporting Northern Irish party currently propping up Theresa May’s minority government has rejected concessions to the European Union (EU) which could have left Britisg citizens in the province subject to EU judges for years.

The Prime Minister had reportedly persuaded EU bosses to drop their insistence on splitting up the United Kingdom and separating Northern Ireland from the rest of Britain’s Home Nations with customs checks in a so-called “customs compromise”.

Northern Ireland’s Democratic Unionists Party (DUP) had threatened to vote down the budget if the UK was divided in this way. Mrs May proposed to keep the entire UK tied to the EU’s Customs Union as a compromise, while Brussels was pressing for Northern Ireland to be subject to Single Market regulations as well.

Throwing this “compromise” out, the DUP’s Westminster leader Nigel Dodds said: “If Northern Ireland is subject to EU Single Market regulations, then it will also be subject to the European Court of Justice in some form as the arbiter of those regulations.

“This position leaves Northern Ireland a rule taker from Brussels. We’re confident we can get a good deal, good for all four corners of the United Kingdom.”

May has been despoerately trying to keep Britain tied to the EU by stealth ever since the process began, though she never committed herself in the brexit campaign, (she’s always been the kind of politicians that in public goes the way the wind is blowing, has revealed by her actions she is privately a rabid remainer and a globalist.

EU “Sounds Alarm” Over New US Sanctions On Russia; Germany Threatens Retaliation
Late on Friday (21/07/17), Congressional negotiators agreed to advance a cross – party bill that would punish Russia for its (alleged) interference in the 2016 election according to the Wall Street Journal. And while it seems improbable that President Trump would sign the bill if it reaches his desk, the loudest complaint about the bill to date has emerged not from the Oval Office, but from US allies in NATO and the European Union …

Rebellion Against EU Authoritarianism Escalates As 8th Member Nation Threatens Referendum
Brussels went too far, they crossed the line in moving from an economic union to a political pan – European political empire. In the end it was a race as to which member state would quit first, Britain, Natherlands, Denmark or Italy. In the event it is Britain.

Is Brexit A Harbinger Of Doom For The ‘Experts’
The Brexit vote, the decision by a democratic majority in Britain to leave the European Union has sent shockwaves around the world. Not only does the EU now face a tsunami of departures, the usurpation of democracy by ‘experts’ ( technocrats ) has been challenged and exposed as a sham.

BREXIT vs. GREXIT – The Truth About The European Union And How It Treats Members
Unless the testicularly deficient politicians stand up for their nations he only thing that will halt the European Union’s push beyond Europe’s geographical borders to incorporate Asian, middle eastern and north African nations is war. Power is addictive and the bean counters of Brussels have ambitions far beyond Europe.

The Hypocrisy and Snobbery Of The Remain Campaign And The Antidote

When I had to defriend a Facebook contact because she was arguing in favour of the EU, it was not simply because I support Brexit that I had become pissed of with her, it was the snobbish and condescending way she dismissed supporters of LEAVE and their case. People are entitled to their opinion on the European Union, but they should check the ‘facts’ they post in support of their arguments.

French, Belgians, Dutch, Italians Follow Britain in Euroskepticism
Europeans want us British to lead them out of Europe. Don’t be fooled by project fear, the European Union (aka the Euronazi Federal Superstate) is falling apart. There will not be chaos if we leave, there will be chaos if we stay.

Head Of European Institute: Brexit ‘Better’ For Everyone
Brexit would be the best result of Britain’s in / out referendum for both Britain and the EU i a Belgian professor who heads up the European Institute at the London School of Economics (LSE) has said.

Johnson’s article lines up his reasons why Britain must exit on June 23rd. It’s time to be brave
OK, I know a lot of you think Boris is most accurately described by a word many people find offensive, but he’s put together a very good argument here on why we must leave the EU. Published in part here under ‘fair use’ terms and conditions, in the public interest …

Cameron Plays Deal Or No Deal In Europe
David Cameron, who was apparently up all night trying to make other European leaders understand why his country needs a better deal in order to poersuade the prople it is a good idea stay in the EU. Unless Cameron gets what will enable him to sell the idea of surrendering national sovereignty to a Federal European Superstate ruled by a committee of unelected bureaucrats in to the British public he will not campaign for the UK to remain in the bloc

EU Refuses to Block Eurozone Integration to Reach Agreement With UK
Austrian Chancellor Werner Faymann said at the E?U summit on British membership terms that the European Union wants to reach an agreement with the United Kingdom, but it is not prepared to compromise the banking union (financial integration) or the further integration of monetary union (UK being forced to abandon the pound join the Euro?) to achieve this goal.

Cameron’s EU Deal Worthless. It Can Be Vetoed In European Parliament?
Opinion polls show Britain is evenly divided on the question of whether to leave or remain in the EU, though it has been suggested up to 10 million other voters, many of them women, have yet to make a decision. How they cast their vote will shape the future of the world’s fifth largest economy and the EU itself. But what is really at stake is more important than economics …

Obama’s intervention in UK politics triggers angry backlash
Angry Britons have launched a petition calling for U.S. President Barack Obama to be prevented from speaking in the UK parliament on Britain’s forthcoming referendum on European Union (EU) membership.

Brexit has terrified ‘Brussels bubble’ – German insider

German Political Journalist Tanit Koch

The EU elite “lost faith in their own appeal and abilities” following the Brexit referendum vote and the surge in support for nationalist parties. The knee jerk response of the Brussels bubble was to try (and fail) to punish Britain for defing Brussels in the same way as they had punished small nations like Greece, Portugal and Ireland, which in their perception was the only way to prevent the EU breaking apart.

Top bureaucrats in Brussels are terrified at the prospect of the European Union breaking apart, according to a European expert. The fragility of the EU bloc since the financial crisis of 2008 is behind the punishment tactics and intransigence of negogiator Michel Barnier and other EU leaders.

Tanit Koch, now of the Transatlantic Commission on Election Integrity” (TCEI) who previously worked as editor of German magazine Bild, said that the Brexit referendum result shocked the Brussels leadership, who did not have a clue how to respond. Her comments come less than two weeks before the major EU summit this month, at which the direction of Brexit and the future of the EU could be decided.

Koch told BBC’s The World This Weekend: “In the last two years, within Europe, especially within the Brussels bubble, they have lost faith in their own appeals and their own abilities.

“They are desperate for the European Union not to implode or break apart.

“It is not so much about punishing Britain as many in this country suggest.

“It is an honest fear that if a precedent is set, that someone who leaves gets a better deal, others will follow suit.”

Koch also revealed the extent to which EU federalisation dogma has taken hold among the top rank in the business world across Europe. She spoke of a recent meeting between German Chancellor Angela Merkel and prominent German business leaders on Brexit. When Mrs Merkel insisted that the sngle market would not be compromised, raising the prospect of a no deal, the business leaders cheered.

She claimed that support of the “EU’s holy grail” meant more to the German CEOs than the huge expected hit to their businesses. The Daily Stirrer finds this a little far fetched as we know from our own sources that many German firms have lobbied for Merkel to support a reasonable deal for Britain.

Despite the apparent deadlock in recent months, a change of tone has emerged in the last week among EU leaders, after long months of them insisting none of their conditions was negotiable. Yesterday, European Council President Donald Tusk said he was confident that the EU and UK would secure a deal by the end of the year.

MORE ON BREXIT

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Nigel Farage Swipes Back At Irrational, Screeching, Crazy Clinton
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Rebellion Against EU Authoritarianism Escalates As 8th Member Nation Threatens Referendum
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The Hypocrisy and Snobbery Of The Remain Campaign And The Antidote

When I had to defriend a Facebook contact because she was arguing in favour of the EU, it was not simply because I support Brexit that I had become pissed of with her, it was the snobbish and condescending way she dismissed supporters of LEAVE and their case. People are entitled to their opinion on the European Union, but they should check the ‘facts’ they post in support of their arguments.

The Labour Case For Brexit by Kate Hoey M.P.
After my short intro is a savage indictment by Brexit supporting Labour MP Kate Hoey of the way the Labour Party has abandoned the working class and is now trying to betray the party’s proud heritage and its roots in the industrial areas by taking Britain into an undemocratic, corporate controlled, capitalist friendly, elite dominated globalist control freak project.

Dutch Referendum This Week Shows why We Should Leave The EU.
Few of you were aware probably that there is an EU referendum vote in The Netherlands this week. As usual with anything negative about the EU barely a word has been printed in the topic in mainstream media and the silence from our notionally unbiased national broadcaster The Bolshevik Broadcasting Corporation (BBC) has been deafening.

French, Belgians, Dutch, Italians Follow Britain in Euroskepticism
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Head Of European Institute: Brexit ‘Better’ For Everyone
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Cameron’s EU Package: Not A Deal But A Few Turns In The Spin Machine
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Wetherspoons Boss Slams Labour MP In Bad Tempered Clash

 


Tim Martin (right) looks terrified by the face Labour MP Jess Phillips plans to use as her sdecret weapon in the Miss Uglyverse pageant.

The Wetherspoons pub chain owner Tim Martin was involved in an incendiary exchage with economically and politically illiterate, unfuckable feminist gobshite Jess Phillips, the Labour MP for some immigrant – laden inner city shithole in the midlands on the BBC’s Politics Live today.

In a fiery clash with the far left Labour MP, Martin said he remained confident a no deal would give a massive boost for the UK economy, including the chance for Britons to pocket an extra £600 if no withdrawal bill is paid to the . He argued that leaving the bloc without a new arrangement would allow Britain to get rid of import tariffs, transforming the country into a “free trading nation.”

Speaking on BBC Politics Live, the pub chain boss said: “I think we’d be better off with no deal. As soon as you start off on day one having to pay out a bill of £40billion – that’s £600 per person, £60million for Liz and Jess’ constituencies – it’s not a good deal.

“We’d be £40billion better off, you can abolish tariffs which apply on over 12,000 products, things that people buy every day in the shops. You can regain control of fishing and you can encourage foreign businesses to invest here because you can be a free trading nation.”

But Mr Martin’s claims were not met with the approval of Labour MP Jess Phillips, a supporter of uncontrolled immigration and just about every other economically and socially damaging policy put forward by the university brainwashed idiots of Labour’s Maoist fringe,  who interrupted him as he made an argument against “attaching ourselves” to EU trading policies.

Rolling her eyes, Ms Phillips joined in saying: “Attaching ourselves to the biggest market in the world would be a folly. Honestly. I was being sarcastic.” Like most Labour MPs, Phillips is too stupid to understand the EU is not a market, it is 27 separate markets, many of them barely significant in global economic terms, and with which Britain has an enormous trade deficit.

Mr Martin defended his argument, agreeing that it would be a folly for Britain to remain too commercially close to Brussels “if you lose your democracy as a result.”  He is of course right, the anti democratic nature of the EU is documented in Yanis Varoufakis’ book “Adults In The Room – My Struggle With Europe’s Deep Establishment” in which the former Finance Minister of Greece describes how he, on behalf of his country, tried to take on the EU establishment, with disastrous results as we have all witnessed over the past few years.

Britain, the fifth largest economy in the world and a nation of over sixty million people, is a somewhat tougher target for the bullies of Brussels, even under the current government under Theresa the Appeaser, it would be impossible to crush us as little Greece, along with Ireland, Portugal and Cyprus have been crushed by Brussels bullies. In fact, once free of the EU’s suffocating bureaucracy and with a half decent leader in place, we would be free to trade with emerging economies like India, Nigeria, Brazil and Indonesia, as well as increasing our trade with the USA, Japan, Russia, Canada and Australia.

And those EU nations which do trade with us, notably Germany, France, Italy, spain and Poland don’t want to lose their British market. Brussels is obsessed with creating a European political superstate, EU members just want to trade freely.

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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.

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Macron Tells Trump:New World Order Starts Here

macron20trudeauMacron and Trudeau – the Canadian leader is taller but more stupid looking
Picture: Zero Hedge

Standing side by side with the other Globalist puppet world leader, Canada’s PC PM Justin bin Trudeau in Ottawa, French Grand-mère baiseur Emmanuel Macron said that he is ready to work with the six other Group of Seven members if U.S. wants to stand alone.

Responding to reports that US President Donal Trump does not care if he is isolated among the group from which Vladimir Putin is already excluded for not following the policies laid down by The Bilderberg Group, Macron commented: “You say President Trump doesn’t care. Maybe. But none of us are eternal and our countries, the commitments taken, go beyond us. None of us who have been elected by the people can say ‘all prior commitments disappear.’ It’s just not true, there is a continuity in state affairs at the heart of international laws. Sometimes we’ve inherited some commitments that weren’t core to our beliefs, but we stuck to them, because that is how it works for nations. And that will be the case for the United States – like for every great democracy”, Macron is reported by Bloomberg to have said.

Macron said he cannot rule out a G-6+1 situation at the upcoming G-7 meeting: “Maybe the U.S. President doesn’t care to be isolated but we don’t care being with the six together,” Macron says, adding they represent the values of a “global force” and an economic market.  Macron, a former Goldman Sachs office boy clearly fancies taking the mantle of globalist in chief from Barack Obama. Like Obama, his achievements now in power are falling way short of promises made when he was campaigning.

The French president then emulated another Obama trick by making a thinly veiled threat that he cannot possible carry out: “the combination of the six markets of the G-7 group is bigger than the U.S. market” and cautioned Trump that “there is no global hegemony if we can organize” adding he will “fight against hegemony”

Russia, China, Iran, India and Brazil may be fighting against US hegemony but the EU is dependent on the US for security and far more vulnerable in a trade war than the US. And Trump is not a man to be intimidated by threats.

In the run up to what looks like being the most confrontational and acrimonious G-7 meeting since the series began in 1975), it is being reported that Germany chancellor Angela Merkel  was already laying down plans for the Toronto showdown among the world’s top political leaders, vowing to challenge Donald Trump on virtually every issue, from trade to climate, and warning that the lack of room for compromise means leaders may fail to agree on a final statement, an unprecedented event at a summit of the world’s 7 most advanced nations.

Addressing German lawmakers on Wednesday, two days before the G-7 summit is due to begin in Toronto Canada, Merkel said that Trump’s “America First” doctrine shows that “we have a serious problem with multilateral agreements.” She added that failure to find common ground could lead to the highly unusual step of host Canada issuing a concluding statement not agreed by all participants, according to Bloomberg. We the punters should not be unduly worried about this, ‘common ground’ at these jollies is usually a meaningless and mealy mouthed compromise which commits everybody to doing absolutely nothing except hammer us for more taxes.