The news for the economy appears “positive” as a combination of a strong American economy and the worries over Iran and the Venezuelan economic crisis together pushed crude oil prices through the $70 mark for the first time since November of 2014.
After Venezuela, Germany, Austria and the Netherlands prudently repatriated a substantial portio
(ZHE) After Venezuela, Germany, Austria and the Netherlands prudently repatriated a substantial portion (if not all) of their physical gold held at the NY Fed or other western central banks in recent years, this morning Turkey also announced that it has decided to repatriate all its gold stored in the US Federal Reserve and deliver it to the Istanbul Stock Exchange, according to reports […]
(ZHE) Just days after Beijing officially launched Yuan-denominated crude oil futures (with a bang, as shown in the chart below, surpassing Brent trading volume) which are expected to quickly become the third global price benchmark along Brent and WTI, China took the next major step in the challenging the Dollar’s supremacy as global reserve currency (and internationalizing the […]
US stocks plummet, pulling much of the global indices down with them
Commodity trading also plummeted after Wall Street’s sudden decline this week [Xinhua]
Oil prices have continued into their third day of decline as US stocks plunge at the fastest rate since 2016.
The US benchmark West Texas intermediate dropped 0.76 per cent to $63.66 a barrel for March. Global benchmark Brent Crude fell 0.89 per cent for April to $67.02 a barrel.
Happy New Year to all of you!
In last year’s roadmap, I forecast that 2017 would end with gold prices up and the dollar index down, both of which happened. I underestimated the number of Fed hikes by one hike, but globally, average short term rates have remained around zero. That will be a core pattern throughout 2018.
The Russian government has recently announced it will issue nearly $1 billion equivalent in state bonds, but denominated not in US dollars as is mostly the case. Rather it will be the first sale of Russian bonds in China’s yuan. While $1 billion may not sound like much when compared with the Peoples’ Bank of China total holdings of US Government debt of more than $1 trillion or to the US Federal debt today of over $20 trillion, it’s significance lies beyond the nominal amount.
@media(max-width: 600px) {.adace_adsense_5a369f5a06261 {display:block !important;}}
@media(min-width: 601px) {.adace_adsense_5a369f5a06261 {display:block !important;}}
@media(min-width: 801px) {.adace_adsense_5a369f5a06261 {display:block !important;}}
@media(min-width: 961px) {.adace_adsense_5a369f5a06261 {display:block !important;}}
(adsbygoogle = window.adsbygoogle || []).push({});
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.
