Moral Outrage
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Posts Tagged ‘reserve currency

Will Iran Kill the Petrodollar?

February 17, 2012

The official line from the United States and the European Union is that Tehran must be punished for continuing its efforts to develop a nuclear weapon. The punishment: sanctions on Iran’s oil exports, which are meant to isolate Iran and depress the value of its currency to such a point that the country crumbles. The […]

Iran bartering Gold for Food directed at US Reserve Currency

February 13, 2012

Much has been made of Reuters story how “Iran turns to barter for food as sanctions cripple imports” in which we learn that “Iran is turning to barter – offering gold bullion in overseas vaults or tankerloads of oil – in return for food”, and whose purpose no doubt is to demonstrate just how crippled […]

The Straits of Hormuz and a new Reserve Currency to challenge the Dollar

January 9, 2012

An unintended consequence of QE had been to spur several countries to think very seriously of how they could replace the dollar as their settlement currency for international deals. The list of countries accumulating gold (Russia, China, India) is similar to the list of countries that were reported to be talking about the need for […]

If Yemen falls so too will the Dollar Reserve Currency?

June 7, 2011

As Afghanistan is the key to Middle Asia, so Yemen is the key to “Arabia.” It is perched on the edge of one of the most important waterways in the world and fronts the soft underbelly of Saudi Arabia – the part where many of the most profitable oil wells are located. Without Saudi willingness […]

Time ticking for US dollar as world’s reserve currency

April 28, 2011

The Fed’s relentlessly easy monetary policy combined with Congress’s reckless spending have driven investors out of the United States and into Asia, South America and elsewhere in search of higher returns and more sustainable growth. This incoming wall of money puts the central bankers in these countries in a bind. If they do nothing, the […]

China establishing its currency as new global Reserve Currency

March 4, 2011

Reuters provides a simple summary of an announcement on the website of the People’s Bank of China: “China hopes to allow all exporters and importers to settle their cross-border trades in the yuan by this year, as part of plan to grow the currency’s international role. The central bank said it would respond to overseas […]

America’s global position by 2025

January 2, 2011

The three main threats exist to America’s dominant position in the global economy: loss of economic clout thanks to a shrinking share of world trade, the decline of American technological innovation, and the end of the dollar’s privileged status as the global rr. Add to this clear evidence that the US education system, that source […]