Dollar Hegemony Under Attack By Export-Superpowers Germany and China

From Testosterone pit blog: The word dollar didn’t even come up. “The volume of transactions that can be carried out in the Chinese currency in international and German financial centers is not commensurate with China’s importance in the global economy,” the Bundesbank explained in its dry manner on Friday in Berlin, after signing a memorandum […]

Washington Signals Dollar Deep Concerns

By Paul Graig Roberts Over the past month there has been a statistically improbable concurrence of events that can only be explained as a conspiracy to protect the dollar from the Federal Reserve’s policy of Quantitative Easing (QE). Quantitative Easing is the term given to the Federal Reserve’s policy of printing 1,000 billion new dollars […]

Stop Fooling Yourself NO Entity On Earth Can Prevent This

First of all I don’t link to this publication because want to help make publicity for their investment company. I publicise this to show how very successful investors are looking at the future of the Euro, the Dollar and the current financial system and it seems it is their opinion that nothing can stop their […]

The end of the Dollar is nigh!

When the US Dollar is ultimately dethroned as the world’s reserve currency (and finally gets rid of all those ridiculous three letter post-Keynesian economic “theories”) nobody will have seen it coming. Well, nobody except for the following headlines: ““World’s Second (China) And Third Largest (Japan) Economies To Bypass Dollar, Engage In Direct Currency Trade“, “China, […]

Iran Moves Further To End Petrodollar, Announces Will Accept Payment In Gold Instead Of Dollars

Another reason for the powers that be to want to attack Iran, that and the fact that Ahmadinajad has announced not to be running in the next election doing away with the crazed dictator meme. Much has been spun in recent weeks to indicate that as a result of collapsing trade, Iran’s economy is in […]

World’s Second And Third Largest Economies To Bypass Dollar, Engage In Direct Currency Trade

According to Zero hedge: To all who still think that in the war of attrition between the USD and the EUR (because contrary to what some have “discovered” only recently, currency wars have been going on for a long, long time and will continue to do so, before morphing into trade and real wars), in […]

The end is nigh: China and Russia ditch the dollar

The biggest and most scariest news this week went unnoticed so far in the NZ mainstream media again. On 24 November China and Russia announced that they would “Quit” the dollar in favour of their domestic currencies. While they emphasised that the agreement is not meant as a challenge to the dollar it will obviously […]

China pulls out of the dollar

Update: Washington’s blog’s excellent analysis China is the country with the biggest stash of US dollars and they are getting worried and rightfully so. China is a bit like the local village store who sells to everyone and who occasionally allows people to put something on the tap. In the village lives a very rich […]

China takes steps to break sway of the mighty greenback

Oh shit! And this from the NZ Herald; Main Stream Media. Reports of the US dollar’s death have, so far, been greatly exaggerated. It is still, by far, the most liquid currency in the world. The US has the deepest and most liquid capital markets in the world, despite all its sub-prime and banking difficulties. […]

Yuan edges into place as international trade currency

This is what Roubini has to say about it GUANGZHOU, April 16 (Xinhua) — Buyers and sellers at the 105th Canton Fair in south China’s Guangdong Province are no longer restricted to using the U.S. dollar to settle their deals. This year they can also use the yuan, China’s currency. Last week, the State Council […]

Hyperinflation and US bankruptcy when will the dollar finally being dumped as the reserve currency?

“The implication is that authorities must be selling their dollar reserves in order to stabilise the USD-CNY exchange rate,” Gruenwald, a former International Monetary Fund official about the Chinese central bank. According to Puru Saxena, CEO of Puru Saxena Wealth Management the US is already bankrupt. His argument is that the GDP is US$ 14 […]

Iran dumps U.S. dollar for oil trades

TEHRAN, Iran (AP) — Iran, OPEC’s second-largest producer, has stopped conducting oil transactions in U.S. dollars, a top Oil Ministry official said Wednesday, in a concerted attempt to reduce reliance on Washington at a time of tension over Tehran’s nuclear program and suspected involvement in Iraq. Mahmoud Ahmadinejad, Iran’s President, has called the dollar a […]