Tag Archives: dollar

Putin seeks to ditch US dollar from Russia’s domestic trade

Russian President Vladimir Putin

Russian President Vladimir Putin blasted the government for turning a blind eye on US dollar payments in the domestic oil trade. “I would like to mention one crucial issue in the development of the energy industry, and the economy as a whole. It is a question of finally stopping the …

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China calls for new global currency to replace US dollar

Gold Chinese Dragon

China is calling for a global currency to replace the dominant dollar, showing a growing assertiveness on revamping the world economy ahead of next week’s London summit on the financial crisis. The surprise proposal by Beijing’s central bank governor reflects unease about its vast holdings of U.S. government bonds and …

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Putin drafts bill to dump the dollar and euro

Putin Russia

Russian President Vladimir Putin has drafted a bill that aims to eliminate the US dollar and the euro from trade between CIS countries. This means the creation of a single financial market between Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and other countries of the former Soviet Union. “This would help …

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Ditching the dollar: Russia, China to create new gold market

Gold bars China Russia

While key Western banks are artificially restraining gold prices to breathe life into the diluted and devalued dollar system, Russia, China and other emerging economies are involved in “the genial move” to establish an entirely different gold market, F. William Engdahl underscores. Key central banks, particularly the Federal Reserve and …

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Chinese yuan accepted as collateral at the LME

China yuan

From Filip Karinja, for Birch Gold Group The ongoing internationalization of the Chinese yuan got a major boost this week with the London Metal Exchange (LME) now accepting the currency as collateral against contracts. This follows regulatory approval from the Bank of England, which now allows the LME to accept five currencies as cash …

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US dollar will not survive 2015

US dollar burning

Editor’s note: by ‘survive’ we are referring to the fact that the US dollar will soon lose major purchasing power. Just like it has lost over 98% since the Federal Reserve came into being in 1913. By Jim Willie, GoldenJackass.com In the closing months of 2014, on numerous occasions the position …

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China’s petroyuan set to knockout the petrodollar

Yuan Petroyuan dollar USD

From Filip Karinja, for Birch Gold Group This week the petrodollar was struck with a mighty blow. Russia’s third largest oil producer, Gazprom, announced that it will settle all crude sales to China in yuan, and thus officially ditch the dollar. With relations between China and Russia growing stronger by the day, …

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U.S. dollar set to shoot next in currency war, QE4 is coming

USD dollar currency war

From Filip Karinja, for Birch Gold Group In recent years, as competition on the global market has heated up, nations around the world have joined in a currency race to the bottom – to devalue their currencies faster than those of other nations. Strangely, the United States has done the opposite; …

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Iran and Russia officially ditch the dollar

Russian President Vladimir Putin with Iranian President Hassan Rouhani

Bank officials in Iran said on Sunday that a mechanism to transfer money to the country’s banks from Russia is now on stream. Gholam-Reza Panahi, the deputy governor for currency affairs of Bank Melli of Iran (BMI), said the mechanism enables Iranian exporters to transfer payments in rubles from their Russian …

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