More Fallout from Trump’s Economic War as Turkey Joins Russia In Liquidating US Treasuries

The Turkish selloff certainly continued into July and August as U.S. relations with Turkey deteriorated this week after President Trump doubled steel and aluminum tariffs to pressure the nation to release a jailed American pastor.

A worker at a currency exchange shop worker lays out Turkish lira banknotes depicting modern Turkey's founder Mustafa Kemal Ataturk, in Istanbul, Aug. 15, 2018. Lefteris Pitarakis | AP

Last month, when we reported that Russia had liquidated the bulk of its US Treasury holdings in just two months, we said that "we can't help but wonder - as the Yuan-denominated oil futures were launched, trade wars were threatened, and as more sanctions were unleashed on Russia - if this wasn't a dress-rehearsal, carefully coordinated with Beijing

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European Powers Prepare to Scrap Dollar in Iran Trade as Disgust With “America First” Policies Mount

As Western capitals brace themselves for Wednesday’s two-day NATO summit, Iranians and Europeans alike are hoping EU leaders can finally put their money where their mouth is and unshackle themselves from U.S.-imposed hegemonic bondage.

VIENNA, AUSTRIA -- While the White House’s frenzied anti-Iran campaign has entailed unprecedented attempts to twist the arms of the United States’ traditional European allies, the pressure may be backfiring – a reality made all the more clear by Russian Foreign Minister Sergei Lavrov’s claims that Europe’s three major powers plan to continue trade

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Fifth Columns Make Way for the Coming Balkanization of South America

The US scheme for Balkanizing Latin America, and by extension the world, is as porous as the 1,500 km long tropical forest border between Colombia and Venezuela.

Colombian President Juan Manuel Santos, flanked by SOUTHCOM admirals, arrives at SOUTHCOM's Colombia military headquarters. Jose Ruiz | DoD

During the recent meeting in Caracas of the Venezuelan Presidential Economic Advisory Commission, in mid-June 2018, President Maduro said something extremely interesting, but also extremely disturbing – nonetheless highly important for the region to be aware of. Mr. Maduro mentioned Yugoslavia, the foreign induced local conflicts, the breakup and

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Turkey Joins Other Nations Flocking from US Dollar Hegemony

“With the Dollar, the world is always under exchange rate pressure. We should save states and nations from this exchange rate pressure. Gold has never been a tool of oppression throughout history.”

After Venezuela, Germany, Austria and the Netherlands prudently repatriated a substantial portion (if not all) of their physical gold held at the NY Fed or other western central banks in recent years, this morning Turkey also announced that it has decided to repatriate all its gold stored in the US Federal Reserve and deliver it to the Istanbul

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De-Dollarization Continues: China, Iran to Eliminate Greenback from Bilateral Trade

De-dollarization for Beijing, Moscow and Tehran has become a strategic priority. Eliminating the unlimited spending capacity of the Fed and the American economy means limiting US imperialist expansion.

Iranian Foreign Minister Mohammad Javad Zarif, left, shakes hands with Chinese Foreign Minister Wang Yi after a joint press conference in Beijing, Dec. 5, 2016. (Greg Baker/AP)

The more Washington lashes out in anger at those who will not bow to the unipolar world order, the more the rest of the world fights back. As the launch of its Yuan/Gold-settled oil futures looms, China is escalating its de-dollarization scheme further by seeking a bilateral rial-yuan agreement with Iran. As a reminder, nothing lasts

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Russia Responds To US Sanctions By Dumping The Dollar

The sanctions bill, born of U.S. politicians’ continuing accusations that Russia meddled in the 2016 election, was passed by Congress and sent to Trump’s desk for final approval at the end of July.

Russia Ruble

Following new sanctions against Russia that President Donald Trump signed into law last week, Moscow responded Monday by announcing Russia will speed up work on reducing the country’s dependence on Western payment systems and the U.S. dollar in general, according to Russia’s state-run RIA Novosti news agency. “We will, of course, intensify work

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