Monday, February 18, 2019

Tag: Petrodollar

Saudis, China Dump Treasuries; Foreign Central Banks Liquidate A Record $375 Billion In US...

One month ago, when we last looked at the Fed's update of Treasuries held in custody, we noted something troubling: the number had dropped sharply, declining by over $22 billion in one week, one of the the biggest weekly declines since January 2015, pushing the total amount of custodial...

James Rickards: The Petro Dollar Is Dead, Dollar Devaluation, Pensions Lost, World Currency

James Rickards is the Editor of Strategic Intelligence, a financial newsletter, and Director of The James Rickards Project, an inquiry into the complex dynamics of geopolitics + global capital. He is the author of The New Case for Gold (April 2016), and two New York Times best sellers, The...

Saudis, China Dump Treasuries; Foreign Central Banks Liquidate A Record $346 Billion In US...

One month ago, when we last looked at the Fed's update of Treasuries held in custody, we noted something troubling: the number dropped sharply, declining by over $27.5 billion in one week, the biggest weekly drop since January 2015, pushing the total amount of custodial paper to $2.83 trillion,...

The Untold Story Behind Saudi Arabia’s 41-Year U.S. Debt Secret

t was July 1974. A steady predawn drizzle had given way to overcast skies when William Simon, newly appointed U.S. Treasury secretary, and his deputy, Gerry Parsky, stepped onto an 8 a.m. flight from Andrews Air Force Base. On board, the mood was tense. That year, the oil crisis had hit home. An embargo by OPEC’s Arab nations - payback for U.S. military aid to the Israelis during the Yom Kippur War - quadrupled oil prices.

De-Petrodollar-ization Esclates – China Imports Record Amount Of Russian Oil In April

We have reported for years that Russia and China have been doing everything they can to displace the use (and influence) of the US dollar. The US of course, either oblivious or too arrogant to care, has continued to bring Russia and China together by annoying both equally with its...

Putin’s Decade-Old Dream Realized as Russia to Price Its Own Oil

Russian President Vladimir Putin is on the verge of realizing a decade-old dream: Russian oil priced in Russia. The nation’s largest commodity exchange, whose chairman is Putin ally Igor Sechin, is courting international oil traders to join its emerging futures market. The goal is to increase revenue from Urals crude...

Why are Russia and China Buying Gold, Tons of it?

Gold is one of the most fascinating of all rare metals. Throughout all history it has been given a special, at times sacred or spiritual value, since six thousand years ago when the Egyptian Pharoahs’ tombs were filled with it to accompany the dead on their journey. In times...

Hillary Emails, Gold Dinars and Arab Spring

Buried amid tens of thousands of pages of former US Secretary of State Hillary Clinton’s secret emails, now being made public by the US Government, is a devastating email exchange between Clinton and her confidential adviser, Sid Blumenthal. It’s about Qaddafi and the US-coordinated intervention in 2011 to topple...

Start Preparing for the Collapse of the Saudi Kingdom

For half a century, the Kingdom of Saudi Arabia has been the linchpin of U.S. Mideast policy. A guaranteed supply of oil has bought a guaranteed supply of security. Ignoring autocratic practices and the export of Wahhabi extremism, Washington stubbornly dubs its ally “moderate.” So tight is the trust...

Saudi Arabia’s Secret Holdings of U.S. Debt Are Suddenly a Big Deal

It’s a secret of the vast U.S. Treasury market, a holdover from an age of oil shortages and mighty petrodollars: Just how much of America’s debt does Saudi Arabia own? But now that question -- unanswered since the 1970s, under an unusual blackout by the U.S. Treasury Department -- has...

Russia Breaking Wall Street Oil Price Monopoly

Russia has just taken significant steps that will break the present Wall Street oil price monopoly, at least for a huge part of the world oil market. The move is part of a longer-term strategy of decoupling Russia’s economy and especially its very significant export of oil, from the...

SPIMEX sees interest in market for Russian crude futures

The St Petersburg International Mercantile Exchange (SPIMEX) sees interest in the market for its planned launch of Russian crude oil futures, as part of efforts to establish Russia's Urals as a benchmark grade, with the new trading tool set to offer an additional mechanism for the hedging of risk...

China’s new oil contract signals shift from Brent and US dollar

New Chinese oil contract will challenge the dollar's dominance as the primary currency for trading commodities. Brent crude has been the global benchmark against which most oil is measured ever since the field from which it draws its name was discovered in the 1970s. The first Brent futures were introduced in...

Saudi Arabia Is Burning Through Its Foreign Reserves at a Record Pace

Saudi Arabia is burning through foreign reserves at a record pace as the largesse of the new king and regional turmoil ratchet up pressure on public finances already hurt by the oil price slump. The kingdom spent $36 billion of the central bank’s net foreign assets -- about 5 percent...

Dollar Hegemony and the Iran Nuclear Issue: The Story behind the Story

“International treaties are being held hostage by the west. There has been a lot of interference inside Iran by Washington. The nuclear issue is just an excuse to undermine the Islamic Republic and has very little to do with anything else.” - Interview with RT by Soraya Sepahpour-Ulrich, 6 April 2015. This...

The War on Yemen: Where Oil and Geopolitics Mix

Everything about the war on Yemen is a smokescreen. Concealed behind the smoke is a tale of geopolitics and petro-politics that aims to control the Bab-el-Mandeb Strait and the Gulf of Aden. The House of Saud and a military coalition that consists mostly of anachronistic monarchies are claiming to bomb...

The Geopolitics Behind the War in Yemen: The Start of a New Front against...

The United States and the Kingdom of Saudi Arabia became very uneasy when the Yemenese or Yemenite movement of the Houthi or Ansarallah (meaning the supporters of God in Arabic) gained control of Yemen’s capital, Sanaa/Sana, in September 2014. The US-supported Yemenite President Abd-Rabbuh Manṣour Al-Hadi was humiliatingly forced...

Ruble Strong: Russian Currency No Longer Reacts to Oil Prices, Foreign Debt

The ruble has grown by 13 percent since the beginning of the year, and has found a new point of balance as it no longer reacts to falling oil prices or foreign debt payments, Russia's Finance Minister said. The ruble no longer reacts to the oil price, the fall of...

From Energy War to Currency War: America’s Attack on the Russian Ruble

A multi-spectrum war is being waged against Moscow by Washington. If there are any doubts about this, they should be put to rest. Geopolitics, science and technology, speculation, financial markets, information streams, large business conglomerates, intelligentsia, mass communication, social media, the internet, popular culture, news networks, international institutions, sanctions,...
video

Jim Rickards: Obama’s Abandoning the Saudis for Iran and Dooming the Petrodollar

Jim Rickards, author of many best-selling economics and investing books, including his latest, titled The Death of Money. In this exclusive interview, Jim shares his view on the changes in US foreign policy—the newly announced partnership with Iran to help fight ISIS and recent moves away from the petrodollar...

Russia, China sign deal to bypass US dollar

In a symbolic blow to U.S. global financial hegemony, Russia and China took a small step toward undercutting the domination of the US dollar as the international reserve currency on Tuesday when Russia’s second biggest financial institution, VTB, signed a deal with the Bank of China to bypass the...

Article Filter Options