So US energy prices have come down ~20% because the economy had slowed down, allowing for the economy to pick up again, but as the US economy, and its use of energy, is a major driver with regard to global energy prices, an increase in activity will boost energy prices which will result in a slow down in the US economy, which will reduce global energy prices and ........... "There's a hole in my bucket, .."
Iraq bans US dollar transactions in latest move towards ‘de-dollarization’.
The Iraqi government issued a ban on 14 May outlawing the use of the US dollar for both personal and business transactions, coming as part of a growing ‘de-dollarization’ trend and an overall decline in Washington’s economic influence.
The ban was enforced on 14 May and aims to boost the use of Iraq’s local currency, the dinar.
Thanks 'N' - I did see this but don't get too excited yet. This is small potatoes, we have to wait until the Eurodollar market is attacked - long way to go here.
"The Eurodollar system is a critical but often misunderstood driver of global financial markets: its importance cannot be understated." Sorry - long read.
What's important here is not the volume. The fact that the entire global south is aware that they've been screwed since 1971 and is willing to fight back is the key! The train has already left the station and the EuroDollar will be destroyed.
NB: All Dollar bills circulating outside the US are called EuroDollar. I don't know why. The Global South now considers it toxic!
I suspect they are trying to black hole all of their screw ups since Biden was selected and before in hope the collective memory of the public will accept that Biden should be President longer.
So US energy prices have come down ~20% because the economy had slowed down, allowing for the economy to pick up again, but as the US economy, and its use of energy, is a major driver with regard to global energy prices, an increase in activity will boost energy prices which will result in a slow down in the US economy, which will reduce global energy prices and ........... "There's a hole in my bucket, .."
Iraq bans US dollar transactions in latest move towards ‘de-dollarization’.
The Iraqi government issued a ban on 14 May outlawing the use of the US dollar for both personal and business transactions, coming as part of a growing ‘de-dollarization’ trend and an overall decline in Washington’s economic influence.
The ban was enforced on 14 May and aims to boost the use of Iraq’s local currency, the dinar.
https://thecradle.co/article-view/24880/iraq-bans-us-dollar-transactions-in-latest-move-towards-de-dollarization
Thanks 'N' - I did see this but don't get too excited yet. This is small potatoes, we have to wait until the Eurodollar market is attacked - long way to go here.
Michael Every of Rabobank is very sound: https://t1mproject.medium.com/down-the-rabbit-hole-the-eurodollar-market-is-the-matrix-behind-it-all-a7a054dd4b0f
"The Eurodollar system is a critical but often misunderstood driver of global financial markets: its importance cannot be understated." Sorry - long read.
What's important here is not the volume. The fact that the entire global south is aware that they've been screwed since 1971 and is willing to fight back is the key! The train has already left the station and the EuroDollar will be destroyed.
NB: All Dollar bills circulating outside the US are called EuroDollar. I don't know why. The Global South now considers it toxic!
I suspect they are trying to black hole all of their screw ups since Biden was selected and before in hope the collective memory of the public will accept that Biden should be President longer.
I think they are in a pickle Greg! WE ARE WINNING! :-)
Thank you Peter. Excellent round ups always. Appreciated.