“The IMF also expects the Venezuelan economy to contract 15% this year, leading to a cumulative GDP decline since 2013 of 50%. Venezuela’s collapse, while contained, is so profound it is now holding back the rebound of the entire region: while Latin America is expected to grow 1.9% this year, the number would be 2.5% without Venezuela according to Bloomberg.”
“Over time, attaining financial wealth became an absolute prerequisite for wielding geopolitical power and influence. The old military variety appears almost feeble standing next to the contemporary Financial Arms Race.”
Read more: http://creditbubblebulletin.blogspot.com/2018/07/weekly-commentary-intimidate-nobody.html
“The currency war has arrived. So say some of the best and brightest in the $5.1 trillion-per-day foreign-exchange market.”
“Global foreign direct investment flows were down 18% in 2017 from the previous year and nearly 24% from its post-recession high in 2015, which the OECD attributed to a surge in financial and corporate restructuring.”
Read more: https://money.cnn.com/2018/07/11/news/economy/foreign-direct-investment-2017/index.html
“The collapse of the peso comes despite an endless series of measures to halt it.”
“While Turkish President Erdogan was busy talking up his currency and begging his people not to sell Lira for dollars, his air force was once again running interference with Greece.”
“The ultimate goal of countries like Venezuela, Iran and Russia seems to be to create a parallel financial system under a new alliance of nations.”
Read more: https://moneyandmarkets.com/iran-russia-launching-cryptos/
“Tehran announced that it will start reporting foreign currency amounts in euros rather than US dollars, as part of the country’s effort to reduce its reliance on the American currency.”
Read more: https://www.middleeastmonitor.com/20180419-iran-switches-from-dollar-to-euro/
“Under the deal, the payments for oil will be made through India’s state-run UCO Bank, which has no US exposure.”
Read more: https://www.rt.com/business/428245-india-iran-dollar-rupee-oil/
“The biggest importer of Iranian oil is China. There are also efforts being made by China, the world’s second largest economy, to trade oil in yuan.”
Read more: http://www.ibtimes.com/europe-pay-iran-euros-oil-abandoning-dollar-2681417