Ending dollar dominance in world market | Updates

[Muhammed45]

I do not mind China will surpass USA. I just do not want another dollar in different colours. We need something independent and universal.

I think that gold and also dealing in national currencies among countries is the best choice. Currently many countries are doing it, removing dependence on dollar :
Japan-S.K
Iran-China-Russia
Iran-Kyrgyzstan
Iran-Tajikistan
Iran-Pakistan
Iran-Turkey
etc
I agree that we don't have to choose one currency as an essential one in trade. Countries can trade in their own currencies which needs more cooperation between central banks of fellow countries.

We should find a way to get rid of sanctions. Dollar is a big leverage,

@vostok BRICS also has the lead

BRICS countries strike fatal blow on US dollar supremacy
World » Asia
The United States has declared a war of sanctions on Russia and continues putting trade pressure on China. It is not ruled out that the USA will restrict supplies of steel products from China. In return, Moscow and Beijing intend to abolish the US dollar in mutual settlements within the scope of the BRICS organization. The move will mark the end of the era of the undivided financial domination of the United States of America in the world.

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As soon as the US Congress adopted a package of new sanctions against Russia, Deputy Foreign Minister of the Russian Federation Sergei Ryabkov issued a formidable warning to Washington. "US sanctions against Russia will only encourage Russia to create an alternative economic system, in which dollars will not be needed," the Russian diplomat said.

Interestingly, the statement was made on the eve of the two-day summit of BRICS trade ministers, which opened on August 1, 2017 in Shanghai. This organization, which includes Brazil, Russia, India, China and South Africa, becomes a powerful counterweight to the Group of Seven.

Today, the BRICS countries account for 26% of the Earth's territory, 42% of the world's population (almost three billion people) and 27% of world GDP. According to experts' forecasts, the share of BRICS countries will account for more than 40% of world GDP by 2050.

However, BRICS trade ministers chose not to put the horse before the cart.

Russia's Minister for Economic Development Maxim Oreshkin stated that BRICS countries, in particular Russia and China, may switch to settlements in national currencies already in the near future. The minister also said that the trade turnover between Russia and China may reach $200 billion by 2020.

Meanwhile, on the sidelines of the Shanghai summit, the ministers discussed opportunities for the creation of a new monetary system to exclude the use of the US dollar. In 2015, President Vladimir Putin said that Russia was opting for settlements in national currencies and created currency pools with several countries.



Today, not only does Russia need to abjure the dollar - the country needs to ensure financial independence from the West. The BRICS countries have coordinated basic principles of the work of the New Development Bank, which is seen as a counterbalance to the World Bank, in which it is the Americans who set the rules of the game.

In addition, Russia considers a possibility to set up a separate payment system similar to SWIFT.

More than 300 Russian banks have switched to an alternative to SWIFT - the system known as SPFS (System for Transfer of Financial Messages). Elvira Nabiullina, Chairwoman of the Central Bank of Russia, said: "Threats were voiced that Russia could be cut off from SWIFT. We have completed the work on our own payment system, and if something happens, all operations in SWIFT format will work inside the country."

One of the main conditions for switching to settlements in national currencies is the stability of the national currencies of the BRICS members. The Russian ruble exchange rate may decrease due to relatively low world oil prices (within $52 per barrel).

Unstable exchange rates of national currencies is not the only obstacle to abjure the US dollar in mutual settlements. BRICS countries account for only 10% of global trade. Therefore, the alliance needs to increase indicators of mutual trade.

Moscow and Beijing have already introduced mutual settlements in yuans. Russia's Central Bank has opened its first foreign office in Beijing.

Thus, the war of sanctions against Russia consolidates and boosts relations between Russia, China and other BRICS members.

Aydin Mehtiyev
Pravda.Ru

Read article on the Russian version of Pravda.Ru


http://www.pravdareport.com/world/asia/04-08-2017/138335-brics_usa-0/

 

[Muhammed45]

@vostok
Bitcoin can replace cash in trade. At least can reduce dependence on cash let alone dollar. The same declaration of Cryptocurrency.



IMF Could Issue International Cryptocurrency to Replace Dollar?
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1420 Total shares

According to the Wall Street Journal, the world may soon have an international cryptocurrency in response to Bitcoin. The story comes as a response to recent comments by Christine Lagarde, head of the International Monetary Fund (IMF), encouraging banks and governments to not short-change Bitcoin and other cryptocurrencies.

Global digital currency craze
The news should not come as a surprise, after the recent announcement by the Dubaigovernment regarding its intention to issue a state cryptocurrency. Further, recent news indicates a large number of banks anonymously supporting state-issued coins as the Blockchain hype continues.

Decentralized centrality?
The difficulty with a global digital currency is the centralization factor. A major part of the appeal of cryptocurrencies like Bitcoin is the decentralized protocol, creating a truly free market where value is based purely on consensus without price fixing.

A globalized digital currency, while providing decentralized security, would require the IMF to fix and regulate values in order to manage the flow of money in and out of different countries. Such a system would run contrary to the underlying principles behind Bitcoin.

New reserve currency
The dollar as the reserve currency for much of the world’s transactional volume means that some major global economies may want a new digital currency to function as the reserve. The IMF coin could potentially replace the dollar in that context, should it become widely accepted. In such a case, the dollar and other national currencies would be restricted to local markets.

Some supporters of Bitcoin would argue that there is no need for such a currency from the IMF, since Bitcoin already exists, and without the centralization risks. The greatest hurdle would be Lagarde and other economists embracing and using Bitcoin globally, but the jury is still out.


https://cointelegraph.com/news/imf-could-issue-international-cryptocurrency-to-replace-dollar

 

[Muhammed45]

Big money coming to bitcoin as investors seek to fill portfolios with digital cash
Published time: 14 Nov, 2017 11:11
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© Global Look Press
#Bitcoinhttps://t.co/gUOoy8bMM1

— RT (@RT_com) October 23, 2017
“When it’s that easy, the price of bitcoin or ethereum is going to go much higher. And that is a lot closer than people think. The institutionalization of this space is coming. It’s coming pretty quick,” he said at the Reuters Global 2018 Investment Outlook Summit in New York.

Novogratz is currently at the helm of Galaxy Investment Partners, a company that bets heavily on virtual currencies and related enterprises. Last month, he said bitcoin could hit the $10,000 mark by March 2018.

#Barclays bank wants to bring bitcoin ‘into play’ https://t.co/knZXwXM9Sa

— RT (@RT_com) June 26, 2017
At the same time, Novogratz warned that bitcoin could become the biggest bubble of our time, stressing that “bubbles happen around things that fundamentally change the way we live.”

The businessman added that he had bought $15 million to $20 million worth of bitcoin during the latest pullback in the bitcoin price over the weekend. Bitcoin suffered a significant price fall, losing almost a third of its value in less than four days. Since then, the world’s most popular cryptocurrency managed to bounce back to about $6,600 per token. Last week, bitcoin touched a record peak of $7,882.

Thumbs up if you smiled!
Share if you agree! pic.twitter.com/2luwHDn29a

— World WealthCreation (@WorldWealthConf) September 5, 2017
According to Novogratz, Galaxy Investment’s largest holding is in bitcoin with a “very big” share kept in ethereum and nearly 35 different tokens and companies. The manager declined to comment on the precise figures.

Novogratz said his biggest regret this year has been not buying more virtual currencies, such as ethereum, when prices fell because he knew that they would keep rising.


https://www.rt.com/business/409814-bitcoin-dip-novogratz-invest/

 

[Muhammed45]

Turks follow Erdogan's call to get rid of dollars & buy gold
Published time: 15 Nov, 2017 10:42
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© Enny Nuraheni / Reuters

The latest World Gold Council report shows Turkey has sharply ramped up gold buying with both the central bank and ordinary people joining the rush.
“Bar and coin purchases, a measure of investment demand, were 47 metric tons so far in 2017, compared with 14.8 tons in the same period a year ago,” ZeroHedge quotes the report as saying.

Turkey Buys 47 Metric Tons of #Gold in 2017 YTD $GLD$TURpic.twitter.com/4qRoOqFUzC

— GoldInvestingAdvice (@Gold_Advice) November 14, 2017
The Turkish central bank has bought almost 30.4 tons of gold this year. The surge in buying is reportedly triggered by state measures aimed at diversifying international reserves in light of rising tensions between Turkey and its traditional Western allies the US and Europe.

583 tons of gold moved out of NY & Paris: Germany repatriating gold ahead of 2020 plan planned https://t.co/uaQAjSVGbo

— RT (@RT_com) February 11, 2017
A year ago, President Recep Tayyip Erdogan called on the Turkish public to keep savings in gold and avoid the US dollar, urging the central bank to back that policy.

At the same time, the exchange value of the Turkish lira has dropped 15 percent since the beginning of October. The plunge inevitably makes the national currency increasingly unattractive as a savings vehicle.

Many important data, especially the inflation figures from the US, will be released and the Fed officials will be talking. #Turkishlira continued to decline, while the #dollar started positive for the new week. pic.twitter.com/SU5lefKRpr

— London Kapital (@londonkapital) November 13, 2017
Most emerging market currencies have been under pressure, but the US-Turkey row, escalated by tit-for-tat travel and visa restrictions, has boosted speculation.

'Pushing away from US #dollar': Central Bank of #Russia adds 1,250 tons of #gold to its reserve https://t.co/inkeDZxknJ

— RT (@RT_com) October 4, 2017
Meanwhile, global demand for gold continues to slump. It dropped nine percent to 915 metric tons in the third quarter of this year, the lowest level since 2009. The decline was reportedly caused by a softer quarter in the jewelry industry, and lower inflows into exchange-traded funds.


https://www.rt.com/business/409916-turks-buy-gold-reject-dollar/

 

[royalharris]

The source is just the WTO

WORLD TRADE ORGANISATION
members of the WTO are 164 nations their headquater in in Geneva Switzerland
China is member of the WTO since 2001!!!!


https://www.wto.org/english/res_e/statis_e/statis_e.htm


Europe exports 3 times more than China and gives a F U C K on what China wants.... in the past ...today ... and in the future...

First,make Europe one country, then compare with other country
It seems there is only big mouth left in Europe with glass heart
To be honest, we don't care what Europe think
USA is still powerful
We just want build win win relationship with everyone

 

[Muhammed45]

US dollar will lose its ‘kingpin’ status – economist Jim O’Neill
Published time: 15 Nov, 2017 09:47
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© Thomas White / Reuters
https://t.co/zAWwWmjFiMpic.twitter.com/LPuJDfb2W6

— RT (@RT_com) October 29, 2017
“Firstly, it's never going to happen because the dollar is the dollar. However… Germany has recently become China's number one trade partner, and it is when you start to see things like this that you have to believe the dollar is not going to be kingpin in the future like it is today.”

In a huge move against the dollar's global dominance, one of the world’s top energy importers, China has recently unveiled plans to roll out a yuan-denominated oil contract as early as this year. The contract will enable the country's trading partners to pay with gold or to convert yuan into gold without the necessity to keep money in Chinese assets or turn it into US dollars.

'Cutting dependence': #Moscow & #Beijing looking to extend ruble-yuan trade between the countries https://t.co/iNPOxjOcHa

— RT (@RT_com) November 4, 2017
Moving away from the dollar is a strategic priority not only for China but for Russia as well. The two countries want to extend the three-year $25 billion yuan-ruble swap deal and make greater use of domestic currencies in trade which means the dollar share is likely to shrink.

“I don't think you can say with confidence that over the next decade the dollar is finished, but the ongoing geopolitical developments suggest that could change in the future,” said O'Neill.

https://www.rt.com/business/409904-us-dollar-will-lose-dominance/

First,make Europe one country, then compare with other country
It seems there is only big mouth left in Europe with glass heart
To be honest, we don't care what Europe think
USA is still powerful
We just want build win win relationship with everyone

You are right. The problem is not China or her leadership.

US doesn't want a win-win relationship and it s impossible that a bully like US may agree with it.

They have always been looking for leverages on China, e.g. Vietnam, N.K's problems with S.K and Japan, South China sea. Fortunately Viets ignored Trump's proposal to interfere in it's territorial problems with China and preferred to work with Chinese side to solve those problems. Hopefully S.K and Japan would follow this method, hopefully though

 

[jhungary]

US Dollar CAN NEVER BE REPLACED by another single currency (Be it RMB or Rupee or anything), the sheer volume of a single currency to accumulate enough to topple US dollars would stretch that currency to the limit, and there are no country in the world now and near future (when I say near, I mean in the next 50 years) can guarantee such currency. Unless we have another world war and this time it destroy the world Economic Infrastructure and this time the US have to goes with it (Consider last world war the world economic infrastructure was destroy sparing the US)

US currently have 20 trillions debt (Bond + Interest) and another 20 trillions floating currency for the world to trade, if a single currency needed to topple the US dollar, their floating capital must be over 40 trillions dollars to be able to satisfy the world Currency Market, Consider this, there are only about 10 trillions tradable Euro out there in the world market, and it takes around 40 years to get to that point compare to the US(It takes the US about 75 years to get to where it is today). Which currency you think can take away the dominance of US dollar and for how long?

Even with the rest of the world bend together and try to take care of this US Currency domination, at this point, it's 68 against 32 (With US Dollar taking 68% of world reserve share) which mean at this point in time, even the world put together cannot replace USD or even sit equal to USD, and that is not something you can destroy even if you go back to gold or try to destroy the Petrodollar

 

[Muhammed45]

US Dollar CAN NEVER BE REPLACED by another single currency (Be it RMB or Rupee or anything), the sheer volume of a single currency to accumulate enough to topple US dollars would stretch that currency to the limit, and there are no country in the world now and near future (when I say near, I mean in the next 50 years) can guarantee such currency.

You made good points BTW.

But there are some facts about USD that i guess world leaders deliberately or carelessly haven't paid attention and dodged it.

Basically the countries that are under sanctions or are being threatened by sanctions have to get rid of dollar, no matter how, they have to find a way for it. The title says "Ending Dollar dominance", it doesn't mean that someone wants to topple dollar or remove it from world market. It can be done through competition, using other currencies, interbank agreements, transaction with currencies of trading parties/partners etc. You don't have to fight dollar, you just dodge it by using other currencies. I have no idea about the Petro-Yuan since it is declaration of war against petro-dollar and it is a Chinese idea after all.

Moreover BRICS is hardly trying to do that, but there is no necessity to fight for extinction of dollar. Dollar will be destroyed only if US economically collapses so it is not the main goal of this thread, however , it's an other possibility and discussions are welcome in that case.

If you neglect the liberal economists , who have already refuted any kinds of models/methods in world economy and gave the absolute certainty to capitalist/liberalists' models , and try to understand the ground realities about USA's economic situation, you can witness that USA is actually a bankrupted country/economy.

They have kept this cancerous economy alive by exporting USA's internal economic inflation to other countries' central banks and their business enterprises. It is being done by recklessly printing of dollar and offering it as a supportive-currency for other countries' central banks. :::

http://www.telegraph.co.uk/finance/...ing-could-put-the-world-back-into-crisis.html

http://theeconomiccollapseblog.com/...-over-the-globe-are-recklessly-printing-money

Actually federal reserve is printing money out of thin air, Q is who/what is keeping US economy alive despite their huge foreign debt and inflation? I say the countries that are using dollar as their supportive-currency for own central banks.

As you said already , US foreign debt is almost 20 trillion dollars and they have recklessly printed 20 trillions dollars as the floating currency for the world to trade. In fact US economy is alive with other countries' trade. I would call it the world wide slavery system that an evil country has imposed on everyone. This system allows their Department of Treasury to sanction anyone who has a different/independent foreign policy.

As it seems it is all about finding a supportive-currency to replace dollar in central banks of specific countries. Gold can do that, Bitcoin and Cryptocurrencies are the future currencies of world trade that can replace dollar in digital trade. Some call Bitcoin the virtual gold which can be used in world trade.

 

[jhungary]

You made good points BTW.

But there are some facts about USD that i guess world leaders deliberately or carelessly haven't paid attention and dodged it.

Basically the countries that are under sanctions or are being threatened by sanctions have to get rid of dollar, no matter how, they have to find a way for it. The title says "Ending Dollar dominance", it doesn't mean that someone wants to topple dollar or remove it from world market. It can be done through competition, using other currencies, interbank agreements, transaction with currencies of trading parties/partners etc. You don't have to fight dollar, you just dodge it by using other currencies. I have no idea about the Petro-Yuan since it is declaration of war against petro-dollar and it is a Chinese idea after all.

Moreover BRICS is hardly trying to do that, but there is no necessity to fight for extinction of dollar. Dollar will be destroyed only if US economically collapses so it is not the main goal of this thread, however , it's an other possibility and discussions are welcome in that case.

If you neglect the liberal economists , who have already refuted any kinds of models/methods in world economy and gave the absolute certainty to capitalist/liberalists' models , and try to understand the ground realities about USA's economic situation, you can witness that USA is actually a bankrupted country/economy.

They have kept this cancerous economy alive by exporting USA's internal economic inflation to other countries' central banks and their business enterprises. It is being done by recklessly printing of dollar and offering it as a supportive-currency for other countries' central banks. :::

http://www.telegraph.co.uk/finance/...ing-could-put-the-world-back-into-crisis.html

http://theeconomiccollapseblog.com/...-over-the-globe-are-recklessly-printing-money

Actually federal reserve is printing money out of thin air, Q is who/what is keeping US economy alive despite their huge foreign debt and inflation? I say the countries that are using dollar as their supportive-currency for own central banks.

As you said already , US foreign debt is almost 20 trillion dollars and they have recklessly printed 20 trillions dollars as the floating currency for the world to trade. In fact US economy is alive with other countries' trade. I would call it the world wide slavery system that an evil country has imposed on everyone. This system allows their Department of Treasury to sanction anyone who has a different/independent foreign policy.

As it seems it is all about finding a supportive-currency to replace dollar in central banks of specific countries. Gold can do that, Bitcoin and Cryptocurrencies are the future currencies of world trade that can replace dollar in digital trade. Some call Bitcoin the virtual gold which can be used in world trade.

The problem is, what you failed to see is the very basic economic principle that is the reason why US Dollar have been prop up all these year. And that is the basic of Supply and Demand.

I cannot export my debt to you if you don't want it. This is the essence of the strength of the US Dollars.

It's not that "The US recklessly printed 20 trillions dollars" but rather, the world need that to trade. Otherwise the world economic development would be grind to a hold. The problem is not that we want to buy US Dollar, but we NEED to buy US Dollar or you will have to stock up all the currency around the world. And this is not possible.

And since there are no alternative, the world have to remain with USD unless a currency that would have been strong enough to overtake it (Not just reaching that level) otherwise the world would not change that demand.

There are only 3 possibility the world can get rid of US Dollars as a currency.

1.) United States ceased to exist

Don't think that's possible. If that is because of war, then when US ceased to exist, the world ceased to exist.
And if that is other factor, it would be for a really stupid government to drive the country to the ground.

2.) A world currency (Ala Euro) established to replace USD

That would have to have USD blessing

3.) A World War destroy most of the world including the US and rebuild the world using another currency.

Again, if US is going to involve in a world war, that war would be thermonuclear war, and which putting this into a moot point.

And other than this, there are no way USD is going to be replaced.

 

[Muhammed45]

I cannot export my debt to you if you don't want it. This is the essence of the strength of the US Dollars.

That's why i called it a deliberate/careless act.

The problem is, what you failed to see is the very basic economic principle that is the reason why US Dollar have been prop up all these year. And that is the basic of Supply and Demand.

I cannot export my debt to you if you don't want it. This is the essence of the strength of the US Dollars.

It's not that "The US recklessly printed 20 trillions dollars" but rather, the world need that to trade. Otherwise the world economic development would be grind to a hold. The problem is not that we want to buy US Dollar, but we NEED to buy US Dollar or you will have to stock up all the currency around the world. And this is not possible.

And since there are no alternative, the world have to remain with USD unless a currency that would have been strong enough to overtake it (Not just reaching that level) otherwise the world would not change that demand.

There are only 3 possibility the world can get rid of US Dollars as a currency.

1.) United States ceased to exist

Don't think that's possible. If that is because of war, then when US ceased to exist, the world ceased to exist.
And if that is other factor, it would be for a really stupid government to drive the country to the ground.

2.) A world currency (Ala Euro) established to replace USD

That would have to have USD blessing

3.) A World War destroy most of the world including the US and rebuild the world using another currency.

Again, if US is going to involve in a world war, that war would be thermonuclear war, and which putting this into a moot point.

And other than this, there are no way USD is going to be replaced.

I don't deny your points. But it looks odd to me when you say it is impossible. I say it is quite possible to end dollar dominance. If our countries use gold to support their own currency and the central banks start printing money based on their gold reserves, they can replace dollar. These countries are the sanctioned countries that i'm talking about. They don't want to replace dollar, they have to replace dollar.

So sticking to USD like a baby doesn't work anymore for sanctioned countries. You can Add the countries that are being bullied by US to those who are sanctioned. So there is a great chance for these countries to work for ending dollar dominance at least in their own trade.

We should come to this fact that buying USD is equal to buying USA's economic inflation. But gold is something that everybody can trust, it is not everywhere like iron & has small amount around the world so it's precious and can be trusted as a supporter. If US threatens of war, no one would support her. I don't think that the bullied EU countries are ready to sacrifice their lives for a mass murderer bully that has already stained it's hands to European blood. Don't forget that US is a bully

 

[jhungary]

That's why i called it a deliberate/careless act.

I don't deny your points. But it looks odd to me when you say it is impossible. I say it is quite possible to end dollar dominance. If our countries use gold to support their own currency and the central banks start printing money based on their gold reserves, they can replace dollar. These countries are the sanctioned countries that i'm talking about. They don't want to replace dollar, they have to replace dollar.

So sticking to USD like a baby doesn't work anymore for sanctioned countries. You can Add the countries that are being bullied by US to those who are sanctioned. So there is a great chance for these countries to work for ending dollar dominance at least in their own trade.

We should come to this fact that buying USD is equal to buying USA's economic inflation. But gold is something that everybody can trust, it is not everywhere like iron & has small amount around the world so it's precious and can be trusted as a supporter. If US threatens of war, no one would support her. I don't think that the bullied EU countries are ready to sacrifice their lives to a mass murderer bully that has already stained it's hands to European blood. Don't forget that US is a bully

Gold system cannot work unless you can be self sufficient, because to start off, there are only finite amount of gold, and each country have a different deposite and ownership on gold, but none that is more important than Consumer ownership. Because at this point today, we (Private citizens) own 45% of world gold. Stem from jewellery, mobile phone, or any type of advance electronic.

So, if a country decided to use gold standard to back their currency, they either need to buy off all the world (Not just in your own country) gold, otherwise, that would mean private citizens can manipulate your own currency by putting more or extracting less gold into your system.

Now, if you do not need to trade with other country, that may have been sufficient and manageable to just buy off the gold currently at your citizens hand, but that would probably lead to another problem, the moment your government started getting gold off private citizen hand, the moment your citizen would realise it, and start stockpiling, and since we have been freely trading gold for over 100 years now, your government probably don't know who own what amount of gold in your own country, let alone the world.

Then you also need to aware of the gold mining, and gold reserve. Which at this point in time, US is number 1 gold reserve representation on forex at 8,500 tons held, and the next one is Germany at 3200 tons, then Italy, then France at 2400 tons each, which in all, accountable for 17,000 tons of gold (out of 186,000 tons world gold to date) which represent 10% of the total mined gold today. On the other hand, the "Sanctioned" country hold not more than 5000 tons of gold in their reserve (China at 1800 tons and Russia at 1700 tons), which mean US alone can still manipulate the gold price by trading gold amongst NATO member and it will still impact on the Sanctioned Country.

On the other hand, the world largest gold reserve are in Australia, US and China, which mean US would still safeguarded by future production.

Gold System died in 1900 when it was at their best form, and anyone who try to revive it is, no other word for it, plain stupid.

 

[Muhammed45]

Dollar in Danger of Weakening for Six Years, Morgan Stanley Says
By
Netty Idayu Ismail
and
Lilian Karunungan
November 16, 2017, 10:32 AM GMT+3:30

• Redeker recommends shorting dollar versus EM currencies, euro
• Sees dollar peaking at 117 yen before retreating below 108

TD's McCormick Expects U.S. Dollar to Underperform



The dollar is threatened by six years of weakness as stronger global growth will outweigh any boosts from interest-rate increases by the Federal Reserve, according to Morgan Stanley.


Investors should short the greenback against emerging-market currencies and the euro as growth gathers momentum, said Hans Redeker, the London-based chief global currency strategist at Morgan Stanley. The dollar’s rally against the yen will halt at 117 in the first quarter, before it drops below 108 by the end of next year, he said.


“The dollar has topped out in January this year and we are very likely to look into a dollar weakening trend for the next six years to come,” Redeker said in an interview in Singapore. “The key driver for the U.S. dollar is not rate expectations, but how the global economy is performing and what is the global demand for funding.”

Morgan Stanley is making its call as the dollar reflation trade makes a comeback with progress being made toward U.S. tax reforms while the Fed affirms its intention to keep raising rates gradually. While the central bank will probably hike in December and act three more times in 2018, that would only have a “tactical impact” on the greenback, Redeker said.


The Bloomberg Dollar Spot Index has climbed 3.8 percent since dropping to a more-than two-year low in September. It’s still down in excess of 7 percent for the year.

The yen will strengthen as at some point the “Bank of Japan will become the next European Central Bank” and move away from controlling the bond market’s yield curve, Redeker said. “We are currently in an environment where synchronized global growth has rarely been as strong as now.”

Morgan Stanley’s FX calls:

• Emerging-market currencies offer “super attractive” real yields in an environment in which developed markets have none
• Rising inflationary pressures from oil prices will likely be offset by improving productivity from the greater use of technology, keeping EM real yields enticing
• Likes the Russian ruble because of the nation’s growth, real rates and conservative central bank policy
• Favors India rupee because the economy doesn’t have significant leverage, productivity is very strong and it has a reformist government. Also recommends currencies of Colombia, Chile and Poland
• Avoids Mexican peso and Brazilian real because of the political risks from the upcoming elections; Mexico is also threatened by the debate on Nafta
• EUR/USD will strengthen to 1.25 in Q1 of 2018. Sees it climbing against the currencies of Australia, Canada and New Zealand because of the other nations’ “significant liability positions”

https://www.bloomberg.com/news/arti...f-weakening-for-six-years-morgan-stanley-says

 

[Muhammed45]

Bitcoin on the rise,

Bitcoin keeps breaking records & ignoring the haters
Published time: 20 Nov, 2017 09:56Edited time: 20 Nov, 2017 10:09
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The British Grand Prix, Aintree, 1962 © Sutton Motorsport Images / Global Look Press

It seems as if bitcoin does not know how to slow down. Despite all the bearish forecasts and worries over a potential bubble, the world’s leading cryptocurrency broke through another all-time high, rallying from the previous weekend’s declines.


READ MORE: Bitcoin recovers from price crash despite bubble warnings

On Sunday, the price of bitcoin climbed above $8,100, having crossed the $8,000 threshold several hours earlier. It was trading at $8,055 at 9:00am GMT on Monday, according to CoinDesk’s Bitcoin Price Index.

Bitcoin has gained over 31 percent in a seven-day span, according to data from CoinMarketCap. The cryptocurrency has recovered from the previous week's tumble, reportedly triggered by a massive selloff with investors shifting to the spinoff bitcoin cash, a trend that has now reversed.

Money coming... And that is 'a lot closer than people think' - fmr macro hedge fund manager at Fortress Investment Group to RT https://t.co/iCUEQHeG6f

— RT (@RT_com) November 14, 2017
The recent boost in the price is reportedly linked to relative stability due to canceled plans for the SegWit2x hard fork, which also had an impact on the decline.

Despite bitcoin’s robust growth, some financial experts still recommend traders stay away from the virtual currency. At the same time, regulators of several countries, including China and India, unveiled crackdowns on cryptocurrencies, citing the possibility for money laundering and the financing of terrorism.

#Bitcoin's wild rollercoaster ride continues reaching record $8,000 https://t.co/VJbRUHGf2Fpic.twitter.com/XRX3ku46iH

— RT (@RT_com) November 17, 2017
Meanwhile, the value of bitcoin has grown over 800 percent this year, and the cryptocurrency’s market capitalization has reached $134 billion. That makes bitcoin more valuable than major corporations like Mastercard, British American Tobacco or McDonald's.

Bitcoin dominates the cryptocurrency market with a nearly 56 percent share, followed by ethereum’s 14.5 percent share.

RT, business

Bitcoin smashes new all-time high of $8,200
Published time: 20 Nov, 2017 14:35Edited time: 20 Nov, 2017 14:40
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The world's most popular cryptocurrency has surpassed $8,200, setting another record high. Bitcoin is up almost six percent on Monday.
November has been an extremely volatile month for bitcoin. Earlier this month, the digital currency price fell to $5,500 after developers considered the SegWit2X update, leading some miners and investors to shift to offshoot bitcoin cash.

However, bitcoin returned to growth after the hard fork was scrapped and on news that the Chicago Mercantile Exchange would start trading futures on the digital currency.

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https://www.rt.com/business/410412-bitcoin-smashes-new-all-time/

 

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Bitcoin crushing US dollar & governments can do nothing to stop it - Max Keiser
Published time: 27 Nov, 2017 11:07Edited time: 27 Nov, 2017 11:13
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A portrait of Benjamin Franklin on a US One-hundred dollar bill © Yuriko Nakao / Reuters

While some have suggested bitcoin's meteoric rise signals a potential cryptocurrency bubble, RT's Max Keiser says fiat currencies like the US dollar are collapsing against it.


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Cryptocurrency bitcoin surging toward $10,000
“I think we are seeing fiat currencies in a hyperinflationary collapse against bitcoin,” he said, adding that we’ll see a major price correction somewhere at the $25,000 per bitcoin level. “Up until that price is achieved it looks like we’ll see a pretty strong upward move.”

On Monday, the digital currency smashed another all-time high, trading above $9,700 on growing signs of mainstream adoption by institutional investors.

According to Keiser, there is a huge market for other cryptocurrencies, but bitcoin has an entrenched network that is now growing exponentially. It is beyond the reach of any competition, of any nation-state and any cooperation to defeat it, the host of ‘Keiser Report’ said.

“Bitcoin is a perfect currency, something that is utterly changing the global finance and market and is putting banksters and the central banks out of business,” which, according to Keiser, “should be applauded because they’ve been horribly bad actors. We need to get rid of them and let bitcoin transform our world.”

He also suggested an interesting scenario that bitcoin could become “something of a financial black hole” and all cash that is currently invested in stocks and bonds is moved over into bitcoin. That will lead to a stock or bond market crash, or both, as “we see the price of bitcoin move into that $25,000 range.“

“That’s something that no central bank or country will be able to stop, and it’s becoming a real scenario, a real threat.”

Talking about bitcoin mining, Keiser said the energy required for that is quite significant as it costs around $2,000 to create a single bitcoin and therefore giving it real intrinsic value. “As the demand for bitcoin rises the energy will be there to meet that demand – that’s the way capitalism works,” he said.




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'Start taking this seriously': #Bitcoin to hit $50k in next 5 yrs, analyst predicts https://on.rt.com/8qol

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For anyone who wants to enter bitcoin at this time, the former stockbroker recommends reading as much as possible. “Don’t just buy a bitcoin without knowing about it first. That way, when a correction does come and it inevitably will, you have some intellectual foundation to keep you in the game and to not panic sell. If you panic buy you could just as easily panic sell,” he explained.

Keiser dismissed concerns about bitcoin hacking, saying the core bitcoin blockchain itself has never been hacked while being immutable. That’s why it is “so alluring and attractive.”

 

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Russia-China bond market play could kick-start new dollarless financial system
Published time: 4 Dec, 2017 14:36
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© Petar Kujundzic / Reuters
Petrodollar end looming as China & allies dump it in oil trading - Jim Rogers
“Such steps will make it possible to remove the dollar from mutual settlements and use only yuan and rubles (mostly yuan for the moment) in the mid-term, if more specialists from the Russian financial sector work in this direction,” Gleb Zadoya, Head of Analytics at Analitika Online told RT.

Russian bonds in yuan could be interesting for the Chinese, as China has trillions of dollars of excessive liquidity, as well as hundreds of thousands of new investors who are interested in trying new markets, the analyst said.

For Russia, facing a new round of US sanctions aimed at its bond market, it is a great opportunity to get closer to China, according to Zadoya.

Petr Pushkarev, Chief Analyst at TeleTrade, says investing in Russian yuan bonds is a great opportunity for Chinese investors to diversify their dollar-dominated portfolios.

“The step itself is more symbolic for now, because $1 billion is too little given the relations between Russia and China. Yet this is the beginning of a long journey, and this is a landmark move that shows the international monetary system is moving towards multipolarity, and that Russia is ready to take active steps in this direction with a certain development of events,” he told RT.

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Russia continues stocking up on gold under Putin’s strategy
According to Pushkarev, It is very natural for China, Russia and other countries to want to create a dollarless system.

“By doing so, they can gradually abandon the obsolete system of dollar settlements, where the US dominates and doesn’t fully accept Russia or other countries as equal and respected partners,” said Pushkarev.

The Russian bonds boast high yields, and even western investors are likely to find ways to bypass any possible American sanctions, says Ivan Kapustiansky, Forex Optimum analyst.

“The five-year Russian euro bonds are trading at 3.2 percent per annum, and the Chinese government securities boast a 3.6-3.9 percent yield. However, Russian bonds in yuan are likely to offer a better yield than the Chinese national debt,” he told RT.


https://www.rt.com/business/411877-russia-china-bonds-dollar/