An important backlash is coming to the perverse USFed monetary policy. An urgent call for global action has been seen in the G-20 and BRICS nations. The Iran sanction workarounds are to serve as the prototype for gold trade settlement. Shanghai will set the oil price in Yuan terms. China will … [Read more...] about JIM WILLIE: GOLD STANDARD WILL RETURN- IT IS COMING. IT WILL SHAKE THE WORLD.
THE WORLD SLOWLY WAVES “GOOD-BYE” TO THE PETRO-DOLLAR
It has been the global use of the dollar to settle all OPEC oil trades using the U.S. dollar that has kept the dollar from losing its reserve status ever since Nixon closed the gold window in 1971. Essentially this factor has kept the dollar propped up for a lot longer than it should have … [Read more...] about THE WORLD SLOWLY WAVES “GOOD-BYE” TO THE PETRO-DOLLAR
Bundesbank, PBOC in Pact to Turn Frankfurt Into Renminbi Hub.
By Angela Cullen and Weixin Zha March 28, 2014 Germany’s Bundesbank and the Peoples Bank of China agreed to cooperate in the clearing and settling of payments in renminbi, paving the way for Frankfurt to corner a share of the offshore market. The central banks signed a memorandum of understanding … [Read more...] about Bundesbank, PBOC in Pact to Turn Frankfurt Into Renminbi Hub.