US dollar dying as tensions over Ukraine
heat up: Analyst
The
US dollar is losing its dominance on global trade amid spiraling
tensions between Washington and Moscow over Ukraine, says an
analyst.
In his Friday column for Press TV website, F.
William Engdahl said Russia and leading trading countries are
developing “alternatives to using the US dollar for their bilateral
trade.”
The
analyst said the US government has been printing “money without
limit, in order to rescue the bankrupt Wall Street banks with what
the Federal Reserve calls Quantitative Easing.”
“Washington’s decision to go for the
military coup in Ukraine [has]…isolated the power of US hegemony
and opened the door for a genuine multipolar world where peaceful
cooperation replaced military threats and sole superpower
domination,” Engdahl stated.
BRICS
Countries to Set Up Their Own IMF
Very
soon, the IMF will cease to be the world’s only organization
capable of rendering international financial assistance. The BRICS
countries are setting up alternative institutions, including a
currency reserve pool & a development bank.
The BRICS countries (Brazil, Russia, India,
China and South Africa) have made significant progress in setting up
structures that would serve as an alternative to the International
Monetary Fund and the World Bank, which are dominated by the U.S. and
the EU. A currency reserve pool, as a replacement for the IMF, and a
BRICS development bank, as a replacement for the World Bank, will
begin operating as soon as in 2015, Russian Ambassador at Large Vadim
Lukov has said.
Brazil has already drafted a charter for the
BRICS Development Bank, while Russia is drawing up intergovernmental
agreements on setting the bank up, he added.
In addition, the BRICS countries have already
agreed on the amount of authorized capital for the new institutions:
$100 billion each. “Talks are under way on the distribution of the
initial capital of $50 billion between the partners and on the
location for the headquarters of the bank. Each of the BRICS
countries has expressed a considerable interest in having the
headquarters on its territory,” Lukov said.
It
is expected that contributions to the currency reserve pool will be
as follows: China, $41 billion; Brazil, India, and Russia, $18
billion each; and South Africa, $5 billion. The amount of the
contributions reflects the size of the countries’
economies.
Source: Russia Beyond the Headlines -http://rbth.com/business/2014/04/14/brics_countries_to_set_up_their_own_imf_35891.html)
Source: Russia Beyond the Headlines -http://rbth.com/business/2014/04/14/brics_countries_to_set_up_their_own_imf_35891.html)
Rob
Kirby – Fiat Money Is Failing, Federal Reserve Fraud And More
http://usawatchdog.com/true-scale-of-… -
Macroeconomic researcher Rob Kirby thinks the global economy is in deep
trouble. What is the problem? Kirby contends, “The real problem is with
the money itself. We need to revert back to real capitalism which is
real weights and measures and honest commerce. Otherwise, we are going
to devolve into a very dark period of feudalist oppression.”Why is this happening? Kirby thinks, “It doesn’t really matter who
occupies the Oval Office. The office of the President has been captured,
and it has been captured by the bankers. We are living under banker
rule. What we are witnessing, in real time, is this experiment with
central banking, and fiat money is failing. The evidence is written all
over the walls. It’s completely clear. Anyone who is not paying
attention to this, at this point, is delusional.”China opens Beijing to gold imports, cutting into Hong Kong’s transit roleOpening the capital as the third shipment
point will help the PBOC keep purchases discreet as it is believed to be
adding to its bullion reserveshttp://www.scmp.com/business/commodities/article/1493507/china-opens-beijing-gold-imports-cutting-hong-kongs-transit
China Goes Dark – PBOC To Keep Goldbugs Clueless About Its Gold Buying Spree“in a move that would help keep purchases by the world’s top bullion
buyer discreet at a time when it might be boosting official reserves.”
It is only a matter of time before this demand finally manifests itself
in the manipulated price as wellhttp://www.zerohedge.com/print/487533
Near-Record Silver Sales at US Mint in Q1The U.S. Mint sold 13,879,000 ounces of
silver bullion coins in the first quarter, compared with 14,223,000
ounces in the first quarter of record-breaking 2013.http://www.silver-phoenix500.com/near-record-silver-sales-us-mint-q1
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