Since the SWIFT-Boating of Iran in March one can look back through the various forex crosses of the countries that have openly defied the United States, continuing to do business with the now-pariah country. All of them have been mercilessly attacked. The avarice and psychopathology of those that would rule the world truly are unbounded. They care nothing for the misery they cause with their silly dreams of conquest and the near infinite levels of tribute they demand for our labor.
The Indian Rupee is down more than 16% since the expulsion of Iran from SWIFT and the Indian government refused publicly to cooperate with the U.S. If anything the Indian government has become even more outspoken in their defiance even though the rapid depreciation of the Rupee has reached critical levels with respect to social unrest. Financial terrorism is something the U.S. is very practiced at and they are doing now to India what they want in Iran, destabilization and regime change.
The Russian Ruble has fallen from 28.95 to 31.23 to the dollar since the beginning of March, a 7.8% drop along with a $17 drop in the price of Brent Crude, which is severely biting into the Russian balance of trade.
Even the Chinese Yuan is off 1% in the past month even though they leaked to the world that they have a direct line to the U.S. Treasury to buy T-bills, cutting out the middle-men like Goldman Sachs (NYSE:GS) and JPMorgan (NYSE:JPM) who would front-run any purchases skimming an undeserved point or two off the backs of exploited Chinese factory workers. Heh.
Lastly, the Turkish Lira has been sacked 5.7% after appreciating strongly to begin the year on very big moves by their central bank to fortify their reserves with gold. Turkey has nearly doubled it’s gold reserves to 206.3 tons in the past year. With the population having an estimated 5000 tons in private hands there is a lot available to mobilize under the government’s scheme to do so.
At some point this will have to end. The Fed will be forced to do something it does not want to do yet. Wtch for June 28th as the deadline for that’s when the sanctions against these countries by the U.S. go into effect.
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