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The status of the dollar as world reserve currency gives the U.S. a number of advantages over other countries. The most important global commodities traded in dollars, although much of this material is not made in the USA. The fact that the global financial system based on the dollar, the Fed allows exporting inflation to other countries, and the government can easily operate under huge deficits. So far, only China has [...] “A week before the recent BRICS summit in Durban, the Kremlin administration has silently produced a document which describes the Russian strategy in the context of BRICS cooperation. The document makes for a fascinating read for anyone brave enough to plow through the dense Russian legalese. The strategy has been designed in the “inner circle” of Vladimir Putin’s team, so it is safe to assume that it represents the official [...] BRICS nations are about to break the chains of the world that we put them so long ago. They’re gonna successfully destroy the system because they’re gonna fighting it through the opposite conscience. They’re ignoring the US Dollar and walking away from it. The Dollar is debt and the opposite of that is capital. They have been stacking capital (gold) for years to back their currency. So to destroy the [...] The status of the US dollar as the world reserve currency gives the US a number of advantages over other countries. The world’s most important commodities are priced and traded in dollars, even if most of these commodities are not produced in the US. The fact that the world’s financial system is based on the dollar allows the Federal Reserve to export inflation to other countries, while the Federal Government [...] Keep stacking and prepare as much as you can. BRICS Challenges Unipolar World and US Dollar Hegemony BRICS Summit draws clear red lines on Syria, Iran The BRICS just became impossible to ignore. At the close of the Fifth annual BRICS Summit in Durban, South Africa last week, there was little question that this group of five fast-growing economies was underwriting an overhaul of the global economic and political order. The eThekwini Declaration issued at summit’s end was [...] Spanish banks post multi-billion euro losses over the weekend!!! Spain to revise 2013 GDP growth forecast from -0.5% to -1.0%!!! Russian Market‏@russian_market41 min Russian Market‏@russian_market35 min https://twitter.com/russian_market/status/318737825086468096/photo/1 BRICS dumping euro amid simmering EU banking crisis Brussels has been forced to eat a generous slice of humble pie: A massive sell-off of the euro is [...] China and Brazil to sign trade deal for local currency at summit of BRICS nations DURBAN, South Africa – China and Brazil plan to sign a deal to do up to $30 billion of trade in their local currencies, as the five-nation BRICS forum of emerging market powers work to lessen dependence on the U.S. dollar and euro. Read more: http://www.foxnews.com/world/2013/03/26/china-and-brazil-to-sign-trade-deal-for-local-currency-at-summit-brics-nations/#ixzz2OeRJiP9B BRICS Nations Plan New Bank to Bypass World Bank, IMF The biggest emerging markets are uniting [...] Tired of all this bullishness, and talk about how there’s nothing to worry about anymore?
Don’t worry. That’s why God gave us Nouriel Roubini. He has a new article at Project Syndicate that could pretty much be titled: Things still suck. It’s actually titled The Economic Fundamentals of 2013 and, spoiler alert, he says the fundamentals aren’t good. Roubini identifies four big risks to the global economy. They are: The US still hasn’t really gotten through its fiscal cliff/debt ceiling stuff.  from businessinsider: For much of the year, the big story was that the US economy was the world’s strongest, refusing to succumb to weakness, even as Europe went into crisis, and China flirted with a hard landing. Because of this, the US stock market was a star performer. But for the moment, things are doing a 180… As we wrote earlier, one of the big stories from today’s PMI reports was the strength of the BRICS. China, [...] 2013 U.S. Economic Forecast: Even Without the Fiscal Cliff, A Recession Still Looms from moneymorning: Everyone is worried about the damage the “fiscal cliff” might do to the U.S. economy in 2013, but the reality is that’s only one of the potential problems in our 2013 U.S. Economic Forecast. At present there appears to be four problems– aside from the fiscal cliff– that could throw the U.S. economy into recession in 2013. These are international problems that [...] Between ‘Twist+’, his belief that Germany will ‘blink’ leaving any eurozone breakup/exit unlikely this year, and confidence that the US (Fed) and China (fiscal and monetary) will attempt once again to pump things up, Bob Janjuah (of Nomura) expect to see a risk-on phase that lifts the S&P – possibly climbing the wall of worry back up to the 1400s by late July or early August. His stop-loss (which would be very [...] Political scientist and Eurasia Group president Ian Bremmer says the G20 will never be able to achieve anything in a new op-ed in the Financial Times.
He gives five reasons why the G20 is not and cannot be effective: Twenty countries is “just too many.” Bremmer points out that even the U.N. Security Council, which is only comprised of five countries as members, has trouble coming to any sort of agreement most of the [...] Eric Platt, Matthew Boesler and Max Nisen “The Global 20″ is Brought to you by Oppenheimer Funds Read more: http://www.businessinsider.com/the-global-20-2012-5?op=1#ixzz1vnEASg3E Each day, the data onslaught that hits markets has an outsized impact on how stocks around the world move. While it’s easy to get caught up in this noise, investors trying to get ahead of the curve need to focus on the big trends. We have identified these big trends in The Global 20. The list includes the rapidly growing field [...] When wonkish blogs suggest gold ownership as a hedge for the Political Idiocy of the world, it is mockingly shrugged off. When the BRICs add gold, it is eschewed in a ‘well, its diversification’ argument. But when the bankers’ bankers’ bank – The IMF – starts adding Gold to its reserves to cover higher expected credit risk losses (read major devaluations of fiat currency exposure), perhaps – just perhaps – the ‘Rationality [...] Brazil 12.55 India 8.78 Russia 6.00 China 3.55
Japan although has the biggest deflating currency borrowing cost is 1 percent a year.
Is growth associated with super high borrowing costs? I’m confused it has been a major problem for Italy Spain Ireland and Portugal to go over 7 percent a year. Brazil is at over 12 percent. Is this where my money should go?
USA debt to GDP went up from 57 percent to 93 percent from 2000 Germany debt to GDP [...] BY JULIAN PHILLIPS In our previous article we looked at whether the U.S. Dollar was headed for a major fall or not. We demonstrated how the dominance of the U.S. dollar was almost entirely dependent on the grip it had over oil producers and this allowed the oil price to be denominated in the U.S. dollar. The U.S. has gone to war in Kuwait and Iraq over this issue under the guise [...] Uploaded by RTAmerica on Mar 28, 2012 BRICS is a group of countries banding together in a troubled world economy. Brazil, Russia, India, China and South Africa are countries that make up 42 percent of the world’s population, a quarter of its landmass and 75 percent of the foreign reserve worldwide. The BRICS influence on the global stage is growing and with their growing power they have plans to form a new [...] Uploaded by RTAmerica on Mar 29, 2012 Brazil, Russia, China and South Africa leaders are meeting in India http://www.citypress.co.za/Business/News/Brics-move-to-unseat-US-dollar-as-trade-currency-20120324
Not only will the US dollar be challenged, but also the entire international financial regime – led by the World Bank and the International Monetary Fund – which has been dominant since the end of World War II.
The north will be pitted against the entire south in a historic competitive currency battle – whose terrain has moved to the Indian capital New Dehli – where the Brics (Brazil, Russia, India [...] (Reuters) - Brazil will push for its large emerging-market peers including China to denounce what it sees as unfair monetary policies by Europe and the United States, raising the stakes in a global confrontation over economic imbalances. Brazilian Trade and Industry Minister Fernando Pimentel told Reuters on Wednesday his country would seek such language in a communique at this week’s BRICS summit, which brings together Brazil, Russia, India,China and South Africa. Pimentel said that China [...] Submitted by cpowell on Sun, 2012-03-25 15:30. Section: Daily Dispatches By Thandeka Gqubule and Andile Ntingi Http://Www.Citypress.Co.Za/Business/News/Brics-Move-To-Unseat-US-Dollar-… South Africa this week will take some initial steps to unseat the US dollar as the preferred worldwide currency for trade and investment in emerging economies. Thus the nation is expected to become party to endorsing the Chinese currency, the renminbi, as the currency of trade in emerging markets. This means getting a [...] by ZH China is best known as the world’s export driver as the hopes of every exporting nation in the world are pinned on the eventual transition of the economy to domestic consumption and hence greater imports. While China has contributed most to Global GDP growth in the past few years, some argue that this growth is not as ‘helpful’ as US growth to other countries – since China does not [...] Kester Kenn Klomegah India’s proposal to set up a bank of the BRICS nations (Brazil, Russia, India, China and South Africa) will top the agenda at the summit of the group in New Delhi Mar. 28. India believes a joint bank would be in line with the growing economic power of the five-nation group. The bank could firm up the position of BRICS as a powerful player in global decision-making. “The [...] Flash alert on Bloomberg: http://www.bloomberg.com/news/2012-01-18/imf-said-to-seek-1-trillion-boost-to-insulate-economies-from-euro-crisis.html (Excerpt) Read more at google.com … Yesterday’s news that China (#2 global GDP) and Japan (#3 global GDP) will now trade in their native currencies is a huge erosion in the reserve currency status of the US dollar. The BRICS (41% of global GDP) and OPEC have been publicly unhappy with dollar policy for nearly 2 years. and may not be far behind. A large portion of the dollars currently in circulation are held internationally to support the [...] by Simon Black of Sovereign Man Here’s The Good News: You’re Not Bank of America Ten years ago, Goldman Sachs’ Jim O’Neill coined the term “BRICs” to lump together a group of large, rapidly-growing economies that we all know well: Brazil, Russia, India, and China. True to his thesis at the time, growth and development in these countries has left the rest of the world for dead over the past decade. But all good things [...] (ZH) The overnight agreement by 17 European countries to tighten euro-area budget controls and expand bailout funds fails to address key aspects of the crisis and may fall at the first hurdle, analysts and investors say. The summary of various Wall Street expert opinions is compiled and presented below from Bloomberg. It is not pretty. Fidelity’s Trevor Greetham says the agreement misses the point; crisis not about govt profligacy, is a balance of payments [...] China, flush with cash, is on a global search to acquire any and all overseas energy assets. China Petrochemical Corp., known more familiarly as the Sinopec Group, Asia’s biggest refiner, will pay $3.54 billion for a 30 percent share in Portugal’s Galp Energia SGPS SA’s Brazilian unit, in what is China’s 2011 largest overseas energy acquisition. Portugal’s Galp Energia is Portugal’s biggest oil company, but affected by the European Union’s fiscal crisis [...] |
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Developing World’s Market Bubble Set to Bring Global Depression
A.M. Freyed
Infowars.com
In China, ghost cities are starting to pervade the landscape like some kind of cancerous growth, void of human presence … They are not abandoned towns reflecting ghosts of the past. Instead, they are large abandoned cities reflecting ghosts of times that would never come. – TopSecretWriters (5/1/2012)
China cuts reserve requirements as economy slumps … The People’s Bank of China will cut the reserve requirement ratio for banks as [...]