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Venezuelans Abandon Bolivar – Merchants Insist On Being Paid In Dollars

Venezuelans are struggling to carry out basic transactions like purchasing food as the value of their currency, the bolivar, has plunged against the dollar amid the country’s worsening economic collapse. According to Reuters, over the past year, Venezuela’s currency weakened 97.5% against the greenback: Put another way, $1,000 of local currency purchased in early January […]


The Dollar’s Reign As The Global Reserve Currency Is Running Out – Fast

The dollar’s hegemony over the global financial system can’t last forever. Like all things, it will eventually come to an end. The only question left, as MacroVoices' Erik Townsend puts it, is whether we’re in the second inning and there’s going to be another hundred years of the dollar serving as the world’s global reserve […]


US Tax Cut and Rate Hikes Threaten China Currency

Authored by Valentin Schmid via The Epoch Times, Seven was the line in the sand. But the Chinese yuan never crossed that line vis-à-vis the U.S. dollar. It only crept up to 6.96 yuan per dollar on Dec. 16, 2016, before starting an impressive comeback, down to 6.5 in the middle of this year. Last […]


China Regulators Complete Final ‘Drill’ In Preparation For Petro-Yuan Futures Trading

Amid all the chatter of Venezuela and Russia potentially creating oil-backed cryptocurrencies, the "huge news" of China's launch of the Petro-Yuan has fallen off the front page… until now. This week saw the Shanghai Futures Exchange complete its fifth yuan-back oil futures contract trading drill successfully… As Bloomberg reports, 149 members of Shanghai International Energy […]


Could Central Banks Dump Gold In Favor Of Bitcoin?

Authored by Charles Hugh Smith via OfTwoMinds blog, All of which brings us to the "crazy" idea of backing fiat currencies with cryptocurrencies, an idea I first floated back in 2013, long before the current crypto-craze emerged. Exhibit One: here's your typical central bank, creating trillions of units of currency every year, backed by nothing […]


Russia May Turn To Oil-Backed Cryptocurrency To Challenge Sanctions & The Petrodollar

The gradual acceptance of digital currencies, with major exchanges about to launch bitcoin futures trading, may prompt some oil producing nations to ditch the US dollar in crude trade in favor of cryptocurrencies, an oil analyst says. As RT reports, Russia, Iran and Venezuela have more than one thing in common. All three are major […]


De-Dollarization Continues: China, Iran To Eliminate Greenback From Bilateral Trade

The more Washington lashes out in anger at those who will not bow to the unipolar world order, the more the rest of the world fights back. As the launch of its Yuan/Gold-settled oil futures looms, China is escalating its de-dollarization scheme further by seeking a bilateral rial-yuan agreement with Iran. As a reminder, nothing […]


Albert Edwards: “Here’s Why The Current Situation Is Even Worse Than The 2008 Crisis”

Back in May, we first reported that Goldman became the first bank to dare to ask if the Fed has lost control of the market, if in slightly more polite terms of course. This is how Jan Hatzius phrased it: “Despite two rate hikes and indications of impending balance sheet runoff, financial conditions have continued to […]


Russia & China Use Logic When it Comes to Gold

  Russia & China Use Logic When it Comes to Gold Posted with permission and written by Rory Hall, The Daily Coin       As we reported both here and here, gold is the answer going forward. How we the people will access physical gold or if we will be able to access physical […]


Hyperinflation in Zimbabwe – It’s back, but maybe not for long

Submitted by BullionStar.com When a nation adopts a foreign currency it will typically face significant hurdles when it tries to rid itself of that currency, or de-dollarize. But Zimbabwe’s autocratic ruler Robert Mugabe has appeared to have done the impossible. After dollarizing ten years ago, over the course of the last year or two he […]


Is Korea Just A Smokescreen?

Authored by Bryan McBride via Mises Canada, Is Korea just a smokescreen? In my last article (Sticking the arson charge on a couple of patsies) I questioned why North Korea’s nuclear program was attracting such attention from the United States. North Korea is a very poor and backwards country whose bellicosity reflects the regime’s need […]


The Economic End Game Continues

Authored by Brandon Smith via Alt-Market.com, In November of 2014 I published an article titled 'The Economic End Game Explained'. In it I outlined what I believed would be the process by which globalists would achieve what they call the "new world order" or what they sometimes call the "global economic reset." As I have […]


Deutsche Asks A Stunning Question: “Is This The Beginning Of The End Of Fiat Money?”

One month ago, Deutsche Bank’s unorthodox credit analyst, Jim Reid published a phenomenal report, one which just a few years ago would have been anathema, as it dealt with two formerly taboo topics: is a financial crisis coming (yes), and what are the catalysts that have led the world to its current pre-crisis state, to […]


The World’s New Reserve Currency? Everything You Need To Know About PetroYuan

Earlier this week, we pointed out that the 'PetroYuan' is on the verge of becoming reality with Graticule's Adam Levinson noting that the birth of a yuan-denominated oil contract will be a “huge story” in the fourth quarter, and will be a “wake up call” for investors who haven’t paid attention to the plans. As […]


Are Petrocurrencies Heading For Extinction?

Authored by Irina Slav via OilPrice.com, Petrocurrencies are breaking away from their traditional tight link to oil prices, but all it would take for this link to return is for prices to fall bellow their current range. This seems to be the general consensus among bankers interviewed by Bloomberg’s Natasha Doff and Anna Andrianova. The […]