The new advance of Russian forces towards the strategically important Pokrovsk, in eastern Ukraine, continues and its possible capture would mark the first major victory for the Russian side since the fall of Bakhmut in 2023. It will not only provide Moscow with a strategic advantage in its goal of fully capturing the energy-rich Donbas. …
Tag: sanctions
Gold will reach $6,000 in spring with a boost from central banks
After an 18-month bull run that took it to a record high of $3,999/ounce on Monday, October 6, investors are wondering the obvious: How long will the precious metal’s rally last? The short answer is yes — at least as long as the same macroeconomic forces that fueled its rise remain active, Thanos Chonthrogiannis, an …
Bretton Woods III from Russia, China and India with a Chinese wall of gold, energy and commodities
Beyond the fading glory of the G7 and G20 — groups of states formed in the aftermath of World War II and now mired in stagnation and demographic decline — a new alliance has emerged on the geoeconomic map: the BRICS+ group. This coalition — Brazil, Russia, India, China and South Africa — represents a …
The US-China currency war is putting the final nail in the coffin of the global economy
The U.S. economy has not faced such a tariff regime in nearly 80 years. It is in a situation without historical precedent and therefore without the possibility of “ready-made recipes.” Given the absence of recent historical precedent, the Federal Reserve is waiting for more evidence that consumer prices are not rising sharply due to tariffs …
High borrowing costs are biting Russian businesses
US restrictions imposed in June to undermine the Kremlin have put local banks in countries that trade with Russia at higher risk of so-called secondary sanctions, increasingly delaying or disrupting payments to and from places like China and Turkey. This makes it difficult, and sometimes impossible, to execute transactions, particularly with China, Russia’s most important …
How is one global reserve currency replaced by another?
Over the past century, monetary systems have changed about every 30-40 years on average, according to the evidence of monetary history. Today, the existing monetary system is over 50 years old, so its transformation is long overdue. There are persistent attempts by different states to dethrone the US dollar as the world’s leading reserve currency …
Currency War Intensifies – The Cheap Yuan and Why Secondary Sanctions Scared China
The battle that will not decide the outcome of the currency war – Why did China’s banks comply with the sanctions? With the threat of secondary sanctions keenly felt by Chinese banks, Washington appears to be temporarily winning a battle – but in an economic war it is decisively losing. The resilience of the Russian …
Barter Economy between Russia-China to Defeat Western Sanctions
The war in Ukraine after the Russian invasion has been going on for more than 900 days, and since then, China and Russia have strengthened their economic and defense ties. Under the radar of the West, however, economic relations could expand even further in the future – with the help of an old (as old …
BRICS: The new global financial order will be achieved by removing sanctions, using cryptos, gold and de-dollarization
Russia will soon turn to cryptocurrencies as the most convenient method to circumvent the heavy international sanctions that have affected the economy amid its ongoing war efforts in Ukraine. “We are taking a historic decision in the financial sector,” said Anatoly Aksakov, head of the lower house, according to Reuters. The State Duma approved the …
The REPO Act poses a problem to US Geopolitical Hegemony
In the wake of Russia’s military operation in Ukraine in 2022, the US government launched its most aggressive sanctions campaign ever. The US government and its allies have frozen about $300 billion of the Russian central bank’s accumulated foreign reserves. It was a stunning display of the political risk associated with the dollar and US …