“We’re on the Verge of a Crisis” and Global Currency Wars Are Triggering It

Shtfplan In financial circles, it is widely acknowledged that the Federal Reserve was about to raise interest rates, but has since changed course and decided to hold firm. Why? Because currencies are tanking all across the globe, and a stronger dollar – a double-edged sword – is making export goods…
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Currency

Russia Shocks With Emergency Rate Hike, Boosts Interest Rate From 10.5% To 17%

Zero Hedge Following the biggest rout to the Ruble in ages, Russia - unlike Mario Draghi - instead of talking the talk decided to walk the bazooka walk and shocked all those long the USDRUB by unleashing an emergency rate hike (at 1 am in the morning) from the recently…
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Oil-Producing Countries’ Currencies Are Getting Crushed

Zero Hedge While most people's attention has been focused on the demise of the Russian Ruble this year, since the June highs in Crude Oil, the oil-producing nations of the world have seen their currencies devalue rapidly. From Brazil to Nigeria and Algeria, the impact of lower oil revenues is…
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Gold or Gunfire: Hedging Against the Collapse of the Dollar

New Eastern Outlook by Christof Lehmann A global economic collapse has become unavoidable, said former chief economist of the Bank of International Settlements (BIS) William White in response to the BIS’ quarterly report in September 2013. Experts forecast that a global economic collapse may occur, overnight, some time at the…
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Currency Wars

Ukraine Currency Crashes To Record Low As IMF Blasts “Gross Abuses”

Zero Hedge Despite celebrations of de-escalations and truce in US equity markets (by asset-gathering commission-takers), the situation continues to go from bad to worse in the nation almost forgotten now that ISIS is stealing American headlines. The Hryvnia plunged this morning - its biggest single-day drop on record - following…
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Currency

The BRICs Are Morphing Into An Anti-Dollar Alliance

Zero Hedge While numerous massively indebted administrations around the world hope to divert the attention of what's left of their struggling middle class away from its daily impoverished existence and distract it with flashing lights and glitzy animations showing another all time market high on a daily basis, a significantly…
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Currency Wars

90% Of Gazprom Clients Have “De-Dollarized”, Will Transact In Euro & Renminbi

Zero Hedge Following Obama and Putin's "caught on tape" meeting Vine'd by the French President, we can't help but wonder if the Russian leaders comments were something akin to "this is not over yet." With "De-Dollarization" efforts already broadly under discussion, ITAR-TASS reports that Gazprom had signed additional agreements for…
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Currency Wars

Psychological War In The Financial Markets And The Sino-Russian Gas Deal

Mint Press One has to look beyond the headlines when considering world events. The ballyhoo that is made of many of these events is either newspeak or grossly disjointed by narrow-sighted interpretations. The announcement of the mega energy deal for just over billion cubic meters ( trillion cubic feet) of…
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Cold War

Russia To Create Own National Payment System In “Bid To Reduce Dependence On The West”

The more the West attempts to "isolate" Russia and pushes it away from its "core values" and of course the US Dollar, the more Russia will seek the safety of a non-dollar based system. We have previously described how Putin has been scrambling to enmesh Russia in tight bilateral commodity-based…
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Welcome To The Currency Wars, China (Yuan Devalues Most In 20 Years)

Zero Hedge The last 7 days have seen the unstoppable 'sure-thing' one-way bet of the decade appreciation trend of the Chinese Yuan reverse. In fact, the sell-off is the largest since 1994 (bigger than the post-Lehman move) suggesting there is clear evidence that the PBOC is intervening. The fact that…
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Shock And Ouch: Turkish Central Bank Intervention Now Fully Faded As Lira Collapse Returns

Zero Hedge Update: full meltdown mode now: Yesterday, the moment when the Turkish Central Bank intervention was jinxed was clearly marked by SocGen's fawning Benoit Anne, who said "In any case, I definitely feel much better about the TRY, at least on a tactical basis. Hence we just entered a…
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Currency Wars

Russia Chooses New Symbol To Represent Rouble, Brands Currency For New Era

| WTF News | Proof that the worth of everything can be affected by marketing and branding and the representation of a concept by symbols. Russia has chosen a new symbol to represent their currency to the world, something important in the scramble for currency supremacy. Reuters The Russian public…
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China Fires Shot Across Petrodollar Bow: Shanghai Futures Exchange May Price Crude Oil Futures In Yuan

Zero Hedge With the US shale revolution set to make America the largest exporter of crude, however briefly, the influence of Saudi oil is rapidly declining. This has been felt most recently in the cold shoulder the US gave Saudi Arabia and Qatar first over the Syrian debacle, and subsequently…
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Iran intends to exclude dollar, euro from foreign transactions

Iranian Economy Minister Seyed Shamseddin Hosseini has announced that Tehran plans to exclude some Western currencies, specially US dollar and euro, from its foreign trade transactions, Fars news agency reported. "According to the decision made by the cabinet workgroup, the dollar and euro will be gradually put aside from Iran's…
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Bitcoin breakdown: US bank regulator probes virtual currency

RT Bitcoins (Image from ) Worried the virtual-currency does not comply with state money-transaction laws and will be used for illegal activities, New York’s banking regulator has issued subpoenas for about two dozen companies involved in the billion dollar crypto cash market. Companies will be asked to provide the New…
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India Involuntarily Enters Currency Wars Alongside Usual PenNikkeiStock Acrobatics Out Of Japan

Zero Hedge Japan goes to bed with another absolutely ridiculously volatile session in the books following a 5%, or 637 point move higher in the PenNIKKEIstock Market closing at over 13514, which if taking the futures action going heading to Sunday night into account was nearly 1000 points. With volatility…
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Cyprus Finance Minister Sarris Quits After Brokering Rescue

Bloomberg Cypriot Finance Minister Michael Sarris quit amid a probe into the island nation’s economic crisis, leaving the government eight days after helping it clinch an international bailout to stave off financial collapse. Sarris told reporters in Nicosia today he was resigning because a government committee had been set up…
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Global Systemic Economic Crisis: Bank Failures, Currency Wars

Global Research Just as the Euro crisis pushed Europe to modernize and adapt its economic and financial governance to the challenges of the 21st century, the terrible US dollar crisis will oblige the world to transform the whole of world governance structures, beginning of course with the international monetary system…
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