The alternative to the dollar -the gold paper | MSIA
Rude American attempts to save all costs the hegemonic role of the dollar are leading to a growing number of countries to work hard on building a multipolar monetary alternative. Objectively speaking, ip kamera the role of the dollar as the main currency of trade and international reserve concluded his historical cycle. Should take note of this.
The financial destabilization and currency devaluations in emerging ip kamera economies, caused by liquidity policies "yo-yo" of the Federal Reserve, led some governments to report that there was a "currency war" in progress. Falls "piloted" in the prices of oil and gold are intended to constrain especially Russia and Iran, and the BRICS in general. At the same time, prices of some commodities are being manipulated upward, producing the effect of "breaking the legs" of industrial policies and development of emerging countries and also the own European Union (EU).
Although not want, for some time, many countries were forced to devise and propose a new monetary system, as tested some recent decisions. An example is the creation of the New Development Bank of the BRICS, which has in it the potential ip kamera to become an alternative monetary authority to the International Monetary Fund (IMF) and the World Bank, both representatives of the Bretton Woods system failed. China itself has established important agreements with Brazil, Russia, Japan and South Korea, for the use of national currencies. Currency swaps are contracts (changes) ip kamera to allow bilateral trade in established currencies.
Recently, a similar proposal the EU itself was made. And much of the recent mega-contract of 400 billion dollars for the supply of Russian natural gas to China will be settled in rubles and yuan.
It's also worth remembering that, in April, the Moscow government announced that a part of international contracts concluded by large Russian corporations should be closed in rubles. At the recent summit of Asia-Pacific (APEC) in Beijing Economic Cooperation President Vladimir Putin said. "In our trade with China, we will always greater use of agreements and compensation in national currencies. We are ready to make the first agreements in rubles and yuan, also in the energy sector. " A Russian-Chinese intergovernmental commission is already studying other similar options. The Russian Central Bank himself announced the intention to create a "system of multilateral swaps" with its partners in the BRICS.
It is natural that the political repercussions could not miss. In fact, in brief, the Shanghai Cooperation Organization (SCO), comprising China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan, will the entry of India, Pakistan, Iran, Afghanistan and Mongolia. Even Turkey, a member of the Treaty Organization (NATO) ip kamera seem to be interested in joining the group, which could come to control 20% of global oil reserves and 50% of natural gas.
In this context, as expected, the role of gold is again the center of discussions. ip kamera Symptomatically, the recent volatility in prices is to "discourage" use in an eventual new international monetary system. However, ip kamera there are reports that, in Moscow, linking the ruble to gold is discussed. It is easy to see that the current 30% devaluation of the Russian currency is the result of speculation ip kamera and international manipulation and certainly does not reflect the real economic capacity and the immense wealth of Russia. Thus, the peg to gold reserves would have a stabilizing effect on exchange rates.
As is known, other than an amount equal to 15% of GDP sovereign debt, Russia has gold reserves equivalent to 27% of the amount of rubles ip kamera in circulation. For its part, the US has a pubic debt of 105% of its GDP, while its gold reserves cover only 2.3% of its money supply.
It is unclear why many Western specialists try to minimize a possible future role of gold in the monetary system. These seem to ignore the fact that, for some time, the major European governments, starting ip kamera with Germany, Holland, Britain and Switzerland, ip kamera are pushing ip kamera hard for the repatriation of its gold reserves ip kamera currently held in the vaults of Fort Knox, in the USA.
About this quite moved and complex terrain, we believe that the role of the EU can become more real and incisive. A European political truth
Rude American attempts to save all costs the hegemonic role of the dollar are leading to a growing number of countries to work hard on building a multipolar monetary alternative. Objectively speaking, ip kamera the role of the dollar as the main currency of trade and international reserve concluded his historical cycle. Should take note of this.
The financial destabilization and currency devaluations in emerging ip kamera economies, caused by liquidity policies "yo-yo" of the Federal Reserve, led some governments to report that there was a "currency war" in progress. Falls "piloted" in the prices of oil and gold are intended to constrain especially Russia and Iran, and the BRICS in general. At the same time, prices of some commodities are being manipulated upward, producing the effect of "breaking the legs" of industrial policies and development of emerging countries and also the own European Union (EU).
Although not want, for some time, many countries were forced to devise and propose a new monetary system, as tested some recent decisions. An example is the creation of the New Development Bank of the BRICS, which has in it the potential ip kamera to become an alternative monetary authority to the International Monetary Fund (IMF) and the World Bank, both representatives of the Bretton Woods system failed. China itself has established important agreements with Brazil, Russia, Japan and South Korea, for the use of national currencies. Currency swaps are contracts (changes) ip kamera to allow bilateral trade in established currencies.
Recently, a similar proposal the EU itself was made. And much of the recent mega-contract of 400 billion dollars for the supply of Russian natural gas to China will be settled in rubles and yuan.
It's also worth remembering that, in April, the Moscow government announced that a part of international contracts concluded by large Russian corporations should be closed in rubles. At the recent summit of Asia-Pacific (APEC) in Beijing Economic Cooperation President Vladimir Putin said. "In our trade with China, we will always greater use of agreements and compensation in national currencies. We are ready to make the first agreements in rubles and yuan, also in the energy sector. " A Russian-Chinese intergovernmental commission is already studying other similar options. The Russian Central Bank himself announced the intention to create a "system of multilateral swaps" with its partners in the BRICS.
It is natural that the political repercussions could not miss. In fact, in brief, the Shanghai Cooperation Organization (SCO), comprising China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan, will the entry of India, Pakistan, Iran, Afghanistan and Mongolia. Even Turkey, a member of the Treaty Organization (NATO) ip kamera seem to be interested in joining the group, which could come to control 20% of global oil reserves and 50% of natural gas.
In this context, as expected, the role of gold is again the center of discussions. ip kamera Symptomatically, the recent volatility in prices is to "discourage" use in an eventual new international monetary system. However, ip kamera there are reports that, in Moscow, linking the ruble to gold is discussed. It is easy to see that the current 30% devaluation of the Russian currency is the result of speculation ip kamera and international manipulation and certainly does not reflect the real economic capacity and the immense wealth of Russia. Thus, the peg to gold reserves would have a stabilizing effect on exchange rates.
As is known, other than an amount equal to 15% of GDP sovereign debt, Russia has gold reserves equivalent to 27% of the amount of rubles ip kamera in circulation. For its part, the US has a pubic debt of 105% of its GDP, while its gold reserves cover only 2.3% of its money supply.
It is unclear why many Western specialists try to minimize a possible future role of gold in the monetary system. These seem to ignore the fact that, for some time, the major European governments, starting ip kamera with Germany, Holland, Britain and Switzerland, ip kamera are pushing ip kamera hard for the repatriation of its gold reserves ip kamera currently held in the vaults of Fort Knox, in the USA.
About this quite moved and complex terrain, we believe that the role of the EU can become more real and incisive. A European political truth
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