TRAVELING THE WORLD, WRITING WHAT THE PEOPLE NEED TO KNOW.
TRAVELING THE WORLD, WRITING WHAT THE PEOPLE NEED TO KNOW.
Saudi Arabia, May 2017. A private yacht sails into the port at Jeddah under heavy guard. The yacht’s identity is hidden even from the port authorities. Only a handful of people are allowed near it. They deliver several boxes on board and the yacht sails away. The boxes contained cash. $1 billion cash. A “gift” Read More…
Hollywood is no stranger to war propaganda but the U.S. Establishment saw no need to wait for an actual war before sending Morgan Freeman out to tell Americans that they “have been attacked” and are “at war” with Russia–whose sin has been an “attack” on the U.S. petrodollar. On Tuesday, Russian President Vladimir Putin dealt another Read More…
Once upon a time, the U.S. dollar was backed by the gold standard in a framework that established what was known as the Bretton-Woods agreement, made in 1944. The dollar was fixed to gold at a price of $35 an ounce, though the dollar could earn interest, marking one notable difference from gold. The system ended up Read More…
Whether in response to rising scorching tensions with the US, or simply to provide support for the ruble, on Tuesday Russian President Vladimir Putin instructed the government to approve legislation making the ruble the main currency of exchange at all Russian seaports by next year, RT reported citing the Kremlin website. The head of Russian antitrust watchdog FAS Read More…
U.S. President Donald Trump recently signed a determination that singles out Venezuela for failing to adhere to counternarcotics obligations. The accusation came – perhaps not so coincidentally – on the same day that Venezuela declared it will no longer participate in the U.S.’ petrodollar trade system. In what is set to be a major blow to Read More…
Did the doomsday clock on the petrodollar (and implicitly US hegemony) just tick one more minute closer to midnight? Apparently confirming what President Maduro had warned following the recent US sanctions, The Wall Street Journal reports that Venezuela has officially stopped accepting US Dollars as payment for its crude oil exports. As we previously noted, Venezuelan President Nicolas Maduro said Read More…