We know what’s coming and we are prepared.
IE: US faith in the stability of the dollar will be tested
Rumours of the death of the dollar are exaggerated, but only for now, writes the author of the article for The New Indian Express. The problems with the American currency are increasing, and the cause of this is Washington itself. Ultimately, the US will overplay their hand and lose their political prestige.
At the moment, there is no doubt in the US about the stability of the dollar as a reserve currency. However, considering the country's economic, political, and social problems, this faith will be put to the test.
To paraphrase Mark Twain's famous joke, rumours of the death of the dollar are exaggerated, although its health problems are increasing.
The problems with the dollar are mainly caused by Americans themselves. The unrestrained fiscal and monetary policies of the US - with a budget deficit and government debt at 7% and over 100% of GDP respectively - have reduced the dollar's long-term purchasing power. Since 1972, it has fallen by 99% against gold and lost 90% of its purchasing power in the market for real goods and services.
American politicians have always sought to use the dollar as a weapon to achieve their own goals, thereby compensating for economic weaknesses, such as lack of competitiveness. The US has sought to exclude foreign entities from international payment systems, such as SWIFT.
Washington imposes secondary sanctions to punish individuals and organisations that are not even under US jurisdiction. If a Russian company is under sanctions, anyone doing business with it may be subject to legal action, even if they comply with their own country's laws. This is done through a questionable system of dollar transactions that only pass through the US banking system. International banks and others have already faced legal action for operations that are legal in their own country. The threats are sufficient to disrupt dealings with organisations under US sanctions.
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Putin called European politicians “pigs” who wanted to “feast on the collapse of Russia”
He also said that after the collapse of the Soviet Union, Russia had believed it would become an “equal part of the European family,” but that never happened because there is “no civilization in Europe, only total degradation.”
Australia's trucking industry has warned rising fuel prices are forcing heavy vehicle fleets off the road, and predicts empty supermarket shelves within weeks.
https://www.noticer.news/truckers-warn-empty-supermarket-shelves-fuel-crisis/
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🚫🚙 From Four-Day Weeks to AC Bans, the World Is Scrambling to Save Energy
Governments around the world are pressuring consumers to reduce energy use in one of the broadest efforts to alter fuel-consumption habits since the 1970s, as the Iran war drives oil-and-gas prices sharply higher.
The changes are being rolled out as a mix of voluntary acts, soft restrictions and incentives to cut demand. But the policies are multiplying and growing more constraining as the crisis continues.
Surges in oil and natural-gas prices have put sharp pressure even on countries that don’t import energy from the Middle East. With prices of derivative products such as jet fuel and liquefied natural gas also affected, the economic fallout is already percolating down—even for energy exporters such as the U.S.
So far, the energy-saving proposals are most acute in Asia, which relies heavily on the Middle East for supplies. Sri Lanka has instituted a four-day workweek for state institutions and schools, and has ...
