After World War II, and up until 1971, the US dollar was backed by gold. That meant that dollars were convertible to gold and it is the sole reason that the dollar was said to be, "as good as gold". Nixon unilaterally cancelled convertibility. In 1980, inflation was the mass media's favorite buzz-kill word, it peaked at 13.5%. Gold soared to $850
Russia was the first among BRICS members to have ratified the establishment of the New Development Bank, the main goal of which is to support investment projects for participating associations. The new bank is seen not only as support to economies of the five countries, but also good counterbalance to the IMF
While consumption is growing "attending" the interests of a privileged few, the environment degrades greatly as more economic growth accounts for exhaustion (the origin of the term "fatigue") of natural and energy resources and the complete depletion of ecosystem services.
The EU has recently presented the concept of the energy alliance to relieve Europe of its dependence on Russia's Gazprom with the help of gas supplies from the Middle East. It is an open secret that Brussels does not want to depend on Russia. Today, Brussels is a step away from victory. Are EU members ready to refuse from their own energy policy
Cooperation between Russia and Ukraine on the An-70 military aircraft has been terminated. According to the Russian Defense Ministry, Russia will insist on the return of its investment share in the project. Is it a big loss for the Russian army? Modifications of the IL-76 have been a basic transport aircraft for the Russian army for 30 years
The collapse of oil prices that has already eaten much of the income of both Russian and American corporations has reached Kazakhstan. The economic crisis is looming over another member of the Customs Union. Is there a threat to the Customs Union during the period of the economic hardship? What does the Kazakh administration do to avoid the crisis?
Famous American financial analyst Dr. Jim Willie unveiled analysis according to which the hegemony of the dollar will collapse in the near future. Dr. Willie named the factors that have an extremely negative impact on the US currency. The first factor is consequences of the 2008 crisis and US banking system still cannot get over it
Visit any continent. Does not matter in which direction you fly; chances are that once down on terra firma and after having ventured farther afield in the countryside, you will experience the majestic. To 'world beater' and novice alike, that moment happens when they make contact with the locals.
Saudi Arabia promised to cut oil production if the Kremlin agreed not to support Syrian President Bashar al-Assad. Saudi and Russian officials were conducting negotiations on the subject, although no result had been achieved yet. If oil can be used to establish peace in Syria, Saudi Arabia may well try to make a deal about it
Russian officials requested the authorities should conduct negotiations with such companies as Paypal, Google, Apple, Visa, MasterCard, and several others, who interrupted their activities on the territory of Crimea, which is a subject of the Russian Federation. The companies said that they had to suspend their work in the Crimea over sanctions
The US and the European Union may disconnect Russia from the system of international payments SWIFT. Should this occur, Russia will have to take drastic measures. There will be only one step left for Russia to do - to voice a threat. Is Russia is disconnected, US ambassadors to Russia and Russian ambassadors to the USA may leave their offices
The dollar shows a steady growth with regard to other until recently stable world currencies. But is the dollar that strong? After all, the U.S. has a state debt of 18 trillion dollars and can declare a technical default at any moment. Recent rise of the Swiss franc showed that the dollar is far from being a safe haven for investors