Tag Archives: dollar

Business/Economics, International, U.S.

Destroy U.S. Dollar: Globalization is killing the U.S. Dollar, because the global use of USD is killing Banks/Economy?

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19 March 2023 (13:36-UTC-07 Tango 06) 28 Esfand 1401/26 Sha’ban 1444/28 Yi-Mao 4721/19 марта 2023 года

It is starting to look like the United States (U.S.) returning to ‘isolationism’ is a good thing, if that also includes the U.S. Dollar (USD).  Banks might not like the raising of U.S. interest rates, and it is part of the reason for collapse of the big banks, but for the working class within the U.S. in the long run it could result in the manufacturing industry returning hundreds of thousands of jobs to the U.S.  In other words, destroying the global use of the USD could restart the domestic economy of the U.S.

Al Jazeera: U.S. economic sanctions against Russia has actually caused other countries to accelerate the abandonment of the USD for global trade!

bdnews24: Former Bangladesh ambassador to China says the globalized economy needs alternatives to the USD.

KITCO News: Is inflation caused by the decline of the use of the USD globally (Global Monetary Reset)?  The rest of the World calls it De-dollarization.  Here is a hour long explanation;

Liberty Street Economics:  This article explains why a strong USD actually prevents global competition. It also reveals that the USD is currently far more powerful than the actual U.S. GDP, warning that the global use of a ‘weak’ USD is actually shooting the U.S. domestic economy in the foot!  It also predicts that raising domestic interest rates will strengthen the USD, killing global competition and driving U.S. owned industries to return production to the United States: “Once the dollar begins to strengthen, the subsequent dynamics imply a decline in global manufacturing due to dollar invoicing and the credit-intensive global value chain. Manufacturing activity, where credit-intensive global value chains are more pervasive, will tend to suffer more. The contraction in global (ex-U.S.) manufacturing will spill back to the U.S. manufacturing due to production linkages and a reduction in demand. This will also lead to a decline in commodity prices and world trade. As the U.S. economy is less exposed to global developments, the dollar will benefit in relative terms from a worldwide economic decline, reinforcing the circle.”

MillenniumPost: U.S. sanctions against Russia has resulted in Russia becoming India’s biggist supplier of oil!

Nasdaq: Bank Collapse Shows the Rot in U.S. Banking and Dollars.

Reuters:  India is using USD avoiding SWIFT (Society for Worldwide Interbank Financial Telecommunication, based in NATO-Belgium) to pay for Russian oil.

Being tied to the USD has caused the Lebanese Pound to collapse, in February it took 15-thousand Lebanese Pounds to equal one USD!

Most Gulf Arab oil producing countries are tied to the U.S. petrodollar, would rather not see higher U.S. interest rates.

Sunday Guardian: A retired Indian military Major explains that U.S. bank collapses are tied to increasing interest rates domestically and the decreasing use of the USD globally. 

ValueWalk: Explains how the USD is used to control the global economy through Foreign Exchange (ForEx).

Destroy U.S. Dollar: IRAQ TAKES CHINESE YUAN FOR OIL! U.S. GOVERNMENT APPROVES?

Business/Economics, Idaho

Dollar General secretly executes Dollar Express & Family Dollar!?! Another blow to Chubbuck?

09 April 2017 (17:23 UTC-07 Tango 06) 20 Farvardin 1396/12 Rajab 1438/13 Jia Chen 4715

In my routine reading of state WARN (Worker Adjustment & Retraining Notification) listings I discovered massive listing for Dollar Express shutdowns.  I’ve also found local news reports revealing that Family Dollar stores are also being shutdown.  This is connected to the takeover of Family Dollar by Dollar Tree in 2015, and the takeover of Dollar Express by Dollar General just days ago.

Is the Chubbuck, Idaho, Family Dollar about to bite the dust?

On 30 MAR 2017, Dollar Express notified Idaho Department of Commerce that its store in Emmett was shutting down.

In 2014 I wrote how Family Dollar was being sold to a company called Dollar Tree.   I also wrote how New York based Yankee One Dollar went out of business, blaming jacked up employee insurance costs due to ObamaCare. And in 2013 I reported how Idaho based Honk’s $1.00 suddenly died and was shutting down. Initially Boise news media claimed that no Honk’s stores were shutting down, until days after BlindBatNews posted the evidence, then the Boise main-streamers finally reported the shutdowns!

To get the takeover of Family Dollar approved, the federal government required Dollar Tree to sell-off more than 3-hundred stores.  Those stores became known as Dollar Express in 2015 under ownership of a vulture capitalist company called Sycamore Partners. At the end of March of this year Sycamore Partners quietly sold them to competitor Dollar General, who immediately began shutting them down.

Dollar General’s sudden takeover and shutdown of Dollar Express (not to be confused with car rental company Dollar EXPRESS) is interesting because in 2016 Dollar General administrators said they were about to embark on a massive expansion program.  The sudden shutdown of Dollar Express will kill 2-thousand-7-hundred jobs! That’s according to news media in the state of North Carolina, where Dollar Express is headquartered.

But wait, at the same time news reports are popping up around the country revealing that Family Dollar stores are shutting down as well.  A Family Dollar in Saint Louis, Missouri, and one in Saranac Lake, New York, are shutting down by the end of June.  It turns out that many of the Family Dollar stores sold-off in 2015, to create Dollar Express, were allowed to continue operating under the Family Dollar name!

What this looks like to me is a complicated game that the top U.S. ‘dollar’ store operators are playing with federal regulators, in an attempt to create a monopoly.  Many analysts say which Family Dollar stores will shutdown depends on if there is another dollar store nearby.   Keep in mind that dollar stores target poor people, yet because poor people don’t have enough money to support the dollar store industry desperate dollar store owners are trying to create a monopoly, it’s proof we’re in a depression not a recovery. Thousands of dollar store employees have lost their jobs since the U.S. dollar store wars began in 2013 (under the rule of Barack Obama)!

RUE21, HI-TECH RETAIL FAIL! ANOTHER BLOW FOR CHUBBUCK?

‘ZOMBIE’ PAYLESS SHOES SUDDENLY SHUTTERS 400 STORES! ANOTHER BLOW TO THE CITY OF CHUBBUCK?

MORE ECONOMIC DECLINE: VANITY DIES IN IDAHO

Business/Economics

To Destroy U.S. Dollar: Yet another U.S. ‘ally’ abandons U.S. dollar for Chinese Yuan! China blames USD for bad economy!

01 December 2014 (12:38 UTC-07 Tango)/08 Safar 1436/10 Azar 1393/11 Bing-Zi 4712

“If the won-yuan market matures, transaction costs for the two currencies will fall and the bilateral trade will rise, contributing to economic growth for both countries.”-Lee Ju-yeol, Bank of Korea

An east Asian ally of the United States, Korea (south), has stopped using the U.S. dollar for international trade deals!  At least when it comes to buying products from China.

The Bank of Korea has begun officially trading in Chinese yuan (aka renminbi), and admitted it was to get away from the U.S. dollar!  The Republic of Korea’s won to People’s Republic of China’s yuan trading system was test run last week.

The Bank of Korea has approved 12 smaller Korean banks to directly trade won for yuan.

Chinese administrators said that under the old U.S. dollar (USD) system converting from one local currency to the USD then back to another local currency actually doubled the cost of the products purchased.  In other words, the USD is a main reason why the World economy sucks!

Anybody notice the main streamer U.S. news media rarely (if ever) talks about the World’s rejection of the U.S. dollar?

Germany & Russia fully embrace Chinese Yuan!

Business/Economics

World War 3: European Union Joins China to destroy U.S. dollar!

30 September 2014 (05:09 UTC-07 Tango)/05 Dhu l-Hijja 1435/08 Mehr 1393/07 Gui-You (9th month) 4712

Today, China and European Union (EU) begin trading each other’s currencies directly, circumventing the almighty U.S. dollar!

Greece joins China to destroy the U.S. dollar!

Germany joins China to destroy U.S. dollar!

BRITISH EMPIRE…..ACCELERATING DESTRUCTION OF THE U.S. DOLLAR!

Total collapse!

British Empire joins Russia to destroy U.S. dollar!

“Your tyranny I was part of is now cracking on every side. And your own life is in danger, your empire is on fire!”-Gripped by Fear by Front 242, 1991

Business/Economics, International, U.S.

Global Economic War: China to start using Yuan for International Loans, BRICS will dump the U.S. dollar, Hillary Clinton demands China prove its intentions! The end of U.S. dollar dominance begins March 29!

“We will discuss the creation of structures and mechanisms for lending in local currencies in order to maximize economic and financial transactions between the countries that are members of the accord.”-statement from Brazil’s development bank BNDES

The BRICS are about to lead a new Revolution; no more U.S. dollar!  It’s being spearheaded by the Chinese Development Bank.

BRICS members (Brazil, Russia, India, China and South Africa) are about to institute a new World Lending system that will not require the use of the U.S. dollar!

Reports say the new system will be signed into operation by BRICS members on March 29, 2012.  It will deal in not only the Chinese Yuan, but in local money as well.  Currently most international lending systems require loans to be made in U.S. dollars.  That’s because the major lenders, the IMF and World Bank, are actually run by the United States.

In response (yet not really explained by the main stream U.S. media why Clinton is making such a statement) U.S. Secretary of State, Hillary Clinton, is demanding China explain itself: “Given the historic challenges to security and stability posed by rising powers, they do have a special obligation to demonstrate in concrete ways that they are going to pursue a constructive path.”

Clinton’s statement shows just how paranoid the U.S. government is of China.  But, oh well, surveys show many of the citizens of the U.S. are also paranoid of China!  This new international lending agreement with the BRICS will only prove to the paranoids that they are justified in their fear.

 

 

 

Business/Economics, International, Technology, U.S.

Global Economic War: Apple now takes the Chinese Yuan, over the U.S. Dollar. Chinese buyers dominate the internet!

“The service has been there since last Friday. It’s really good news for our customers and local application developers.”-Apple China statement

California based Apple Incorporated decided to accept the Chinese yuan (aka Renminbi, or RMB) in an unannounced move last week. One reason is that China is now the world’s biggest internet market!!!

The App Store will now accept yuan credit and debit cards issued by more than 20 Chinese banks.  Another reason for the move is that many Chinese customers using credit and debit cards issued from outside China, were getting their info ripped off.

Apple’s fiscal 4th quarter revenues from China hit $4.5 billion. Their U.S. operations had more revenue, but revenue from China is growing so fast it will soon pass up the revenues made in the U.S.

Business/Economics, International, U.S.

Global Economic War: Chinese Yuan could replace the U.S. Dollar within 10 years

“Chinese financial authorities are laying the groundwork for these ambitions via a series of bilateral arrangements with foreign companies and financial centers. While dollar denominated financial markets retain a substantial advantage over their RMB denominated counterparts in terms of new issuances, the RMB markets have made remarkable progress in less than one year.”-U.S.-China Economic and Security Review Commission

RMB; aka renminbi, aka yuan.

“Chinese economic dominance is more imminent and more broad-based, encompassing output, trade and currency, than is currently recognized. By 2030, this dominance could resemble that of the United States in the 1970s and the United Kingdom around 1870.  And this economic dominance will in turn elevate the renminbi to premier reserve currency status much sooner than currently expected.”-Arvind Subramanian, economist

 

Business/Economics, International, U.S.

Global Economic War: Increase in Japanese Corporate Bankruptcies, they blame the falling U.S. dollar

Corporate bankruptcies in Japan have risen for the second month in a row, they blame the rising value of their yen, which is being pushed up by the falling U.S. dollar.

Credit research firm Teikoku Databank says 969 companies failed in August!

The strong yen is causing a drop in orders and exports, and causing trading losses in currency derivatives.

The research firm warns of a vicious spiral, with more companies shifting production overseas to escape the high yen, in turn cutting even more orders to Japanese firms and putting them at risk of bankruptcy.

Business/Economics, International, U.S.

Global Economic War: Japan creates fund to help Japanese corporations to take over foreign companies, blames crashing U.S. dollar

Finance Minister Yoshihiko Noda announced that a U.S.$100 billion fund is being created, to help Japanese companies to use yen to buy foreign money, and take over foreign companies.

Noda says the fund is a response to the crashing U.S. dollar, which is forcing up the value of the Japanese yen.  The more the yen is worth, the more expensive it makes Japanese exports.  Already Japan has seen the effect, reduced sales to other countries.

The fund will loan money to Japanese companies, and investors, who will then use it to buy foreign money, and foreign companies.  It’s hoped that action will bring down the value of the yen.

The Japanese government will counter speculators from abusing the fund, by requiring daily reports of financial transactions.

Business/Economics, International, U.S.

Global Economic War: China will now use the Yuan in all international deals, blames crashing U.S. dollar

The Chinese government has expanded the use of the yuan in international trade deals.

Originally China restricted the use of the yuan to just five cities, for trade with Southeast Asian nations.  Later it was expanded so 20 provinces could use the yuan in all their international payments.  Now, the People’s Bank of China gave permission to all businesses in China, to use the yuan for international trade payments.

Chinese officials say the decision was influenced by the crashing U.S. dollar.