In a previous article I suggested that the BRICS, lead by China and Russia, might offer an alternative international trade settlement system that would be independent of the US and the dollar. The BRICS have [more…]
There is much gnashing of teeth and pulling of hair by just about every leader in the West, especially by an almost apoplectic President Trump, over a so-called “sinister threat” by the BRICS nations to [more…]
Oh, I know. You aren’t REALLY against free trade per se. You just demand a “level playing field”. Those Chinese cheat by raising tariffs against our goods and subsidizing key industries that they want to [more…]
In a previous essay I pointed out that it is very likely that the US will isolate itself from the worldwide trading system due to it past, frankly, unlawful actions to steal the assets of [more…]
Great forces are in place to change the world in which we have lived since the end of the Bretton Woods Agreement in 1971. These forces cannot be stopped. The leaders of Western democracies are [more…]
Since the Bretton Woods Agreement in 1944 the dollar has been the world’s preferred reserve currency; i.e., the major trading nations of the world were willing to hold dollars in vast amounts to satisfy their [more…]
The US dollar has been the world’s premier reserve currency since the Bretton Woods Agreement of 1944. Until 1971 it was redeemable by foreign central banks in gold at $35 per ounce. As long as [more…]
For many months now Alasdair Macleod of Goldmoney.com has been writing about the efforts of a group of non-Western nations, led by Russian economist Sergey Glazyez, to establish a new settlement system for international trade. [more…]
Every time I start this essay I find the political background has shifted so dramatically that I have to start again. Only Ollie’s complaint to Stan seems to be an apt constant: “another fine mess [more…]
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