Oil edged lower in the early morning Asian session. Energy traders were digesting a round of U.S. data suggesting that the world’s largest economy is headed toward a recession, Oanda said.
Oil Edges Lower Amid Recession Fears Read More »
BERKELEY, California – When the United States and its Group of Seven partners imposed sanctions on Russia’s central bank and barred Western financial institutions from doing business with Russian counterparties, commentators warned of far-reaching changes in the global monetary and financial order.
Other countries would see those sanctions as yet another step in the West’s “weaponization” of finance. Fearing that they, too, might one day be on the receiving end of sanctions, governments and central banks would reduce their dependence on the dollar, U.S. banks and the U.S.-dominated Society for Worldwide Interbank Financial Telecommunication (SWIFT).
China would be the principal beneficiary, these predictions continued. So far, China has sought to remain above the fray in the dispute between Russia and the West. It has a large banking system. It has created a Cross-Border Interbank Payment System to facilitate yuan settlement and provide an alternative to Fedwire and the Clearing House Interbank Payments System through which dollar payments are made.
What it will take to reshape the global monetary order Read More »
Humans have highly sophisticated ways of communicating with each other. Communication is a powerful tool because it makes change possible. If communication is open and free, it facilitates the rapid exchange of meaningful messages which contain the information that brings about change. Since information helps people adapt and make innovative changes, a state of meaningful
