Future developments boil down to this: As long as it is possible to avoid direct hot wars between major powers that have emerged in the emerging geopolitical landscape, the main battlegrounds for geopolitical competition will be economics and technology. Today, all major world powers have started using protectionist measures that were rare during the era …
Category: Economics
Bank of Canada: Third consecutive rate cut
The Bank of Canada proceeded with its third consecutive reduction in interest rates. Its prime lending rate fell to 4.25%. The 25 basis point rate cut was widely expected by the market, given the continued weakening of the economy and subdued inflation. In his written remarks, governor Tiff Macklem said the central bank’s decision reflected …
Kamala Harris’ $2.25 tril. “Money Tree”, and Economic Populism
The socialist recipe for economic failure: Price controls, higher taxes, government intervention and subsidies paid for by printing an ever-depreciating currency. These are the main pillars of “21st century socialism” and the radical leftist Peronism that destroyed Argentina. These are also the key elements of the economic plan presented by Kamala Harris and the Democratic …
Russia gets Crypto Exchanges to Trade Digital Yuan – de-Dollarization as Ultimate Goal
Russia has announced plans to create two state-owned cryptocurrency exchanges aimed at making digital payments for international trade transactions. US sanctions have led Russia to seek alternative payment methods to keep its economy stable. The two cryptocurrency exchanges will operate in two different cities, one in Moscow and the other in St. Petersburg. Additionally, BRICS …
US vs. China: Bitcoin will become the new global reserve currency
In an era characterized by global economic instability and high political uncertainty, the idea of a new world order in the financial sector is gaining more and more ground. Now, there are questions about how this new world order will take shape. The dollar has long held this position, but its reign is increasingly being …
A move away from the dollar could hurt the Εconomies of Russia, China and India
Despite the ongoing movement, the dominance of the dollar is unlikely to disappear easily and quickly, given how pervasive the dollar is in financial markets. De-dollarization cannot happen at a rapid pace because the infrastructure required to make it happen is extremely daunting because all governments and countries will have to change the way they …
Canada’s standard of living is collapsing and resembling Europe
Canadians didn’t think the EU-US-NATO rot would touch them. However, they were wrong. They themselves put a huge amount of blame on the neoliberalism of Prime Minister Justin Trudeau, who started as a “fresh young man” and ended up being the citizens’ nightmare. In particular, having learned well in an impeccable state that operates on …
“Monetary policy” – the tool for elites to win by controlling the Economy
In the cases over the decades where Modern Monetary Theory (MMT) has been applied, not a few have been spent reacting to the relevant policies of governments and central banks, focusing on the mix of options and the efficiency they will bring to the economy. There is also a minority, however, who have targeted monetary …
BRICS build wheat market and threaten the West
The global South’s drive to de-dollarize global trade doesn’t just involve the oil or energy goods sector – after Saudi Arabia’s commitment to trade energy goods in US currency (the well-known petrodollar) ends. As these states are world leaders in the commodity market, they are attempting to expand the economic fields in which transactions will …
Why is the Russian Economy growing continuously during the War in Ukraine?
The Russian economy during the years of the war in Ukraine “runs like a bullet”, according to the findings of the European Bank for Reconstruction and Development EBRD. The World Economic Outlook of the IMF points out that Russia is expected to grow in 2024 faster than all advanced economies, in particular the Russian economy …