Venezuela Is About to Ditch the Dollar in Major Blow to US: Here’s Why It Matters

*****

Venezuela Is About to Ditch the Dollar in Major Blow to US: Here’s Why It Matters:

Venezuelan President Nicolas Maduro said Thursday that Venezuela will be looking to “free” itself from the U.S. dollar next week, Reuters reports. According to the outlet, Maduro will look to use the weakest of two official foreign exchange regimes (essentially the way Venezuela will manage its currency in relation to other currencies and the foreign exchange market), along with a basket of currencies.

According to Reuters, Maduro was referring to Venezuela’s current official exchange rate, known as DICOM, in which the dollar can be exchanged for 3,345 bolivars. At the strongest official rate, one dollar buys only 10 bolivars, which may be one of the reasons why Maduro wants to opt for some of the weaker exchange rates.

“Venezuela is going to implement a new system of international payments and will create a basket of currencies to free us from the dollar,” Maduro said in a multi-hour address to a new legislative “superbody.” He reportedly did not provide details of this new proposal.

Read moreVenezuela Is About to Ditch the Dollar in Major Blow to US: Here’s Why It Matters

Pepe Escobar Exposes Real BRICS Bombshell: Putin’s “Fair Multipolar World” Where Oil Trade Bypasses The Dollar

Escobar Exposes Real BRICS Bombshell: Putin’s “Fair Multipolar World” Where Oil Trade Bypasses The Dollar:

Authored by Pepe Escobar via The Asia Times,

Putin reveals ‘fair multipolar world’ concept in which oil contracts could bypass the US dollar and be traded with oil, yuan and gold…

The annual BRICS summit in Xiamen – where President Xi Jinping was once mayor – could not intervene in a more incandescent geopolitical context.

Once again, it’s essential to keep in mind that the current core of BRICS is “RC”; the Russia-China strategic partnership. So in the Korean peninsula chessboard, RC context – with both nations sharing borders with the DPRK – is primordial.

Beijing has imposed a definitive veto on war – of which the Pentagon is very much aware.

Read morePepe Escobar Exposes Real BRICS Bombshell: Putin’s “Fair Multipolar World” Where Oil Trade Bypasses The Dollar

The End of the (Petro)Dollar: What the Federal Reserve Doesn’t Want You to Know

The End of the (Petro)Dollar: What the Federal Reserve Doesn’t Want You to Know:

The United States’ ability to maintain its influence over the rest of the world has been slowly diminishing. Since the petrodollar was established in 1971, U.S. currency has monopolized international trade through oil deals with the Organization of the Petroleum Exporting Countries (OPEC) and continuous military interventions. There is, however, growing opposition to the American standard, and it gained more support recently when several Gulf states suddenly blockaded Qatar, which they accused of funding terrorism. 

Read moreThe End of the (Petro)Dollar: What the Federal Reserve Doesn’t Want You to Know

This Is Not A Drill! The Economic Crisis Will Start This Year & Last For 5 Years: Clif High (Video)

As I’ve said here:

Clif High-Chaos Starts Middle of March (Video):

“If his webbot was unable to detect that Trump, just like Killary Rotten Clinton, is a Rothschild puppet, then it is (almost) completely worthless in predicting anything.”


* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Iran Just Officially Ditched The Dollar

Iran Just Officially Ditched the Dollar in Major Blow to US: Here’s Why It Matters:

Following President Donald Trump’s ban on travelers from seven predominantly Muslim countries, the Iranian government announced it would stop using the U.S. dollar “as its currency of choice in its financial and foreign exchange reports,” the local Financial Tribunereported.

Iran governor Valiollah Seif’s central bank announced the decision in a television interview on January 29. The change will take effect on March 21, and it will impact all official financial and foreign exchange reports.

Iran’s difficulties [in dealing] with the dollar,” Seif said, “were in place from the time of the primary sanctions and this trend is continuing,” but when it comes to other currencies, he added, “we face no limitations.”

In a piece published by Forbes, Dominic Dudley contends that this move is significant “in the light of the recent ‘Muslim ban” announced by Trump. Iran nationals were added to the order issued by the current U.S. administration, which prompted the Iranian government to vow to stop issuing visas to U.S. citizens.

Read moreIran Just Officially Ditched The Dollar

As Iran Dumps Dollar, Congress Quietly Slips in Bill for ‘Use of Force Against Iran’

As Iran Dumps Dollar, Congress Quietly Slips in Bill for ‘Use of Force Against Iran’:

On March 21, The Islamic Republic of Iran will cease using the U.S. dollar in all of its financial reporting. The decision to stop using the dollar as a reference has been in the works for some time but was expedited after the Trump administration decided to include Iran as one of the seven countries banned from entering the United States.

Iranian PressTV reported, “Valiollah Seif, the governor of the Central Bank of Iran, was quoted by domestic media as saying that Iran would either replace the US dollar with a new common foreign currency or use a basket of currencies in all official financial and foreign exchange reports.”

Read moreAs Iran Dumps Dollar, Congress Quietly Slips in Bill for ‘Use of Force Against Iran’

Peter Schiff Warns “Trump Deficits Will Be Yuuge”: What That Means For Gold & The Dollar

Peter Schiff Warns “Trump Deficits Will Be Yuuge”: What That Means For Gold & The Dollar:

Submitted by Peter Schiff via Euro Pacific Capital,

There is much we don’t know about how the Trump presidency will play out. Will the Wall get built? Who will pay for it? Will it have at least some fencing? Will repeal and replace happen at exactly the same time? Will Trump throw a ceremonial switch? Will there be a Trump National Golf Course in Sochi? It’s anyone’s guess.  But of one thing we can be fairly certain. President Trump is very likely to preside over the largest expansion of Federal budget deficits in our history. Trump has built his companies with debt and I’m sure he thinks he can do the same with the country. His annual budget deficits are likely going to be huge. This development will make a greater impact on the investment landscape than most on Wall Street can imagine.

Read morePeter Schiff Warns “Trump Deficits Will Be Yuuge”: What That Means For Gold & The Dollar

China Dumps Treasuries: Foreign Central Banks Liquidate A Record $403 Billion In US Paper

China Dumps Treasuries: Foreign Central Banks Liquidate A Record $403 Billion In US Paper:

It is official: Trump or no Trump, foreign central banks, wealth funds, and virtually every other official institution in possession of US paper is liquidating their Treasury holdings at a record pace, amounting to an unprecedented $400 billion in the past 12 months.

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Currency Armageddon? A Word about the Hated Dollar

Currency Armageddon? A Word about the Hated Dollar:

The “death of the dollar” will have to be rescheduled.

Sharply higher yields on Treasury securities and the prospect of more rate hikes by the Fed – in a world where other major central banks are still stewing innocent bystanders in the juices of NIRP, negative yields, and “punishment interest” – sent the hated dollar, whose death has been promised for a long time, soaring.

It soared against the euro. Or, seen from the other side, the euro plunged against the dollar, to $1.039, the lowest level since January 2003; down 35% from its peak of $1.60 during the Financial Crisis; down 10% from its 52-week high in March of $1.16; and down 2.7% from $1.068 yesterday before the Fed announcement.

Read moreCurrency Armageddon? A Word about the Hated Dollar

Clif High: More Signs “That The American Dollar Empire Continues Its Meltdown” (Video, Nov 18, 2016)

H/t reader squodgy:

“Latest snippet from Clif High, very interesting, and it will be good to watch it develop.”

Continue to prepare for collapse (the greatest financial/economic collapse in world history).

Related info:

Caterpillar Retail Sales Decline For Record 47 Consecutive Months

Financial collapse > hyperinflation > civil war > directly followed by WW3 …

U.S. Ships Over 600+ Containers Of Ammo To Germany

The Prophecies Of Alois Irlmaier – The Roadmap To WW3 – The 3 Days Of Darkness (Worse Than WW3)

life


18.11.2016

Description:

Apologies for the blurry video. FStop stuck. Used camera.

Pie is blended apples, Braeburn, Rosa, Yellow Delicious, Pippin, with a coconut oil crust.

Bonds turned in July
Then USA bonds took the largest 1 day move ever the day after Trump elected.

American Federal Reserve Note empire meltdown continues:

Read moreClif High: More Signs “That The American Dollar Empire Continues Its Meltdown” (Video, Nov 18, 2016)

Erdogan Threatens To Abandon US Dollar In Trade With Russia

putin erdogan_0

Erdogan Threatens To Abandon US Dollar In Trade With Russia:

The unexpectedly sharp antagonism between Turkey and the west accelerated today, and one day after NATO preemptively reminded Turkey that it is still a NATO alliance member and advising Ankara that “Turkey’s NATO membership is not in question”, Turkey had some more choice words for its military allies. Cited by Reuters, Turkey foreign minister Mevlut Cavusoglu told Turkish’s NTV television on Thursday that the country “may seek other options outside NATO for defense industry cooperation, although its first option is always cooperation with its NATO allies.” Translation: if Russia (and/or China) gives us a better “defensive” offer, we just may take it.

Read moreErdogan Threatens To Abandon US Dollar In Trade With Russia

IMF Says The US Dollar Overvalued By 10-20%

Dollar-Bending

The US dollar has been overvalued by 10-20 percent, according to the IMF:

WASHINGTON (Sputnik) — The US dollar has been overvalued by up to 20 percent, the International Monetary Fund (IMF) said in a report on Wednesday.

“At today’s levels of the real effective exchange rate, the current account deficit is expected to rise above 4 percent of GDP by 2020, pointing to the US dollar being overvalued by 10-20 percent,” the IMF stated.

Read moreIMF Says The US Dollar Overvalued By 10-20%

John Williams Of Shadowstats.com: We Won’t Get Through The Elections Without Major Disruptions To The Finanical System – “The Dollar Is Going To Collapse” (Video)

Jun 10, 2016

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

The Fascinating Story Of How The Petrodollar Was Born And Lived In Secrecy For Over 40 Years

The Fascinating Story Of How The Petrodollar Was Born And Lived In Secrecy For Over 40 Years:

For decades, the story of Saudi Arabia recycling petrodollars, i.e., funding the US deficit by buying US Treasuries with proceeds of its crude oil sales (mostly to the US), while the US sweetened the deal by providing the Saudis with military equipment and supplies, remained entirely in the conspiracy realm, with no confirmation or official statement from the US Treasury department.

Now, that particular “theory” becomes the latest fact, thanks to a fascinating story by Bloomberg which gives the background and details of secret meeting between then-US Treasury secretary William Simon and his deputy, Gerry Parsky, and members of the Saudi ruling elite, and lays out the history of how the petrodollar was born.

Here is the background:

Read moreThe Fascinating Story Of How The Petrodollar Was Born And Lived In Secrecy For Over 40 Years

Here’s proof that the US dollar is insanely overvalued

Dollar-Purchasing-Power-1913-to-2013


Here’s proof that the US dollar is insanely overvalued:

Shocking. Astonishing. Jaw dropping.

There’s just no other way to describe how cheap South Africa is right now.

Between the worldwide decline in commodities prices, and a major crisis of confidence in the national government here, the local currency (South African rand) remains at the lowest level it’s been… ever.

And that’s made nearly EVERYTHING here dirt cheap if you’re spending foreign currency… especially US dollars.

Read moreHere’s proof that the US dollar is insanely overvalued

De-Dollarization Accelerates As Russia Nears Launch Of Ruble-Priced Oil Trading Platform

De-Dollarization Accelerates As Russia Nears Launch Of Ruble-Priced Oil Trading Platform:

It appears Russia is close to taking the next big step towards de-dollarization and killing the petro-dollar as Vladimir Putin’s “dream” of ruble-based pricing of its domestically-produced oil is on the verge of realization. SPIMEX (The St. Petersburg International Mercantile Exchange) is actively courting international oil traders to join its emerging futures market, which as Bloomberg reports, is designed “to create a system where Russian oil is priced and traded in a fair and straightforward way.”

Step-by-step Russia, China and other emerging economies are taking measures to reduce their dependence on the US dollar, and as SputnikNews detailed, F. William Engdahl warns – referring to Russia’s crude oil benchmark initiative – this move could deal a dramatic blow to the “petrodollar’s” dominance.

Read moreDe-Dollarization Accelerates As Russia Nears Launch Of Ruble-Priced Oil Trading Platform

Saudis and the Dying Petrodollar: “The Global Economic Reset Has Begun”

Roll of $100 bills on a toilet paper spindle
Roll of $100 bills on a toilet paper spindle

Saudis and the Dying Petrodollar: “The Global Economic Reset Has Begun”:

This article was written by Brandon Smith and originally published at his Alt-Market website.

Editor’s Comment: As Brandon Smith makes eloquent in this article, a global showdown is looming, and the long-standing alliance between the United States and Saudi Arabia is likely to be broken, as self-interest drives new alliances in the era of global SDR currencies, and the end of the dollar’s special status on the world market. 

Oil prices have been deliberately skewed to a level that would disrupt entire nations, and test markets while a flood of resources is pulling out the safety net and things grind to a halt. As these events unfold in the near future, much of the ample corrupt between the Saudis and the secret government wing of the U.S. government is likely to surface… and there is much evil and misdeeds to draw from.

One More Casualty Of The 9/11 Farce – The Petrodollar

by Brandon Smith

It’s been about 15 years now since passenger airliners struck the World Trade Center towers on 9/11, and we are still suffering the consequences of that day, though perhaps not in the ways many Americans might believe.

Read moreSaudis and the Dying Petrodollar: “The Global Economic Reset Has Begun”

Is This The End Of The U.S Dollar? Geopolitical Moves “Obliterate U.S Petrodollar Hegemony “

king-dollar

Is This The End Of The U.S Dollar? Geopolitical Moves “Obliterate U.S Petrodollar Hegemony “:

It seems the end really is nigh for the U.S. dollar.

And the mudfight for global dominance and currency war couldn’t be more ugly or dramatic.

The Saudis are now openly threatening to take down the U.S. economy in the ongoing fallout over collapsing oil prices and tense geopolitical events involving the 9/11 cover-up. The New York Times reports:

Saudi Arabia has told the Obama administration and members of Congress that it will sell off hundreds of billions of dollars’ worth of American assets held by the kingdom if Congress passes a bill that would allow the Saudi government to be held responsible in American courts for any role in the Sept. 11, 2001, attacks.

China has been working for years to establish global currency status, and will strengthen the yuan by backing it with gold in moves clearly designed to cripple the role of the dollar. Zero Hedge reports:

Read moreIs This The End Of The U.S Dollar? Geopolitical Moves “Obliterate U.S Petrodollar Hegemony “

Larry Summers Launches The War On Paper Money: “It’s Time To Kill The $100 Bill”

“…a moratorium on printing new high denomination notes would make the world a better place.”

– Larry Summers, Harvard Professor

… and the world would be a much better place without …

Larry Summers, Robert Rubin: Will The Harvard Shadow Elite Bankrupt The University And The Country?


Larry Summers Launches The War On Paper Money: “It’s Time To Kill The $100 Bill”:

esterday we reported that the ECB has begun contemplating the death of the €500 EURO note, a fate which is now virtually assured for the one banknote which not only makes up 30% of the total European paper currency in circulation by value, but provides the best, most cost-efficient alternative (in terms of sheer bulk and storage costs) to Europe’s tax on money known as NIRP.

500 euro

That also explains why Mario Draghi is so intent on eradicating it first, then the €200 bill, then the €100 bill, and so on.

Read moreLarry Summers Launches The War On Paper Money: “It’s Time To Kill The $100 Bill”

Dollar Index Tops 100 As EURUSD Tumbles To 1.05 Handle, 7-Month Lows

Dollar Index Tops 100 As EURUSD Tumbles To 1.05 Handle, 7-Month Lows:

EURUSD just broke to a 1.05 handle, its lowest since April. With EURUSD now down 9 big figures from Draghi’s mid-October jawboning, the US Dollar index (heavily-weighted to EUR) is soaring, reaching back above to its highest since March. Bearing in mind that Fed’s Fischer says that the worst of USD’s impact on the US economy is yet to come, we may have a problem.