Search
BIS distances from Project mBridge amid BRICS sanctions concerns
31.10.2024
Economic sanctions have a profound effect on international financial architecture, it turns out
BIS distances from Project mBridge amid BRICS sanctions concerns
31.10.2024
Economic sanctions have a profound effect on international financial architecture, it turns out
Crypto Segment’s Move After De-Dollarization Talks at BRICS
25.10.2024
Russia hosted the BRICS summit at Kazan, welcoming participants from 36 nations to hold talks on several key…
Latam Insights Encore: Brazil Can Lead the Way to Full BRICS De-Dollarization
22.10.2024
Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency news from last week. In this edition, we examine the recent movements by Brazil to further push de-dollarization within BRICS and how this might affect the trading framework of the entire...
Sound Money Defense League Executive: Gold Protects Against Inflation, Fiat Risks
29.9.2024
In a recent interview with Kitco News, Jp Cortez, the executive director of the Sound Money Defense League, discussed the growing sound money movement across the United States. Cortez emphasized the significance of legislative wins, such as the removal of sales taxes on precious metals in...
US License Expiration Imperils Russia-China Trade in Chinese Yuan
29.9.2024
A U.S. license allowing transactions with key players in Russia’s financial system expires on Oct. 12. This could make it harder and more expensive for Russian businesses to trade with China in yuan. The yuan is currently the most traded foreign currency in Russia after Western sanctions...
BRICS Eyes Petroyuan for Oil Trade Amid Dedollarization Push, Expert Says
26.9.2024
BRICS nations are considering adopting the petroyuan for oil trade as part of their ongoing dedollarization efforts, according to economic expert Herbert Poenisch. He noted the BRICS group may discuss alternatives to the petrodollar at their Kazan summit. He highlighted Saudi Arabia’s...
Zimbabwe to Unveil De-Dollarization Roadmap, Says Government Official
8.8.2024
The Zimbabwean Cabinet has approved a de-dollarization roadmap outlining “modalities to operationalize the Zig currency as legal tender for use in the economy.” Zimbabwean officials have set early 2026 as the new deadline for making the Zig the country’s sole currency. The central bank...
De-Dollarization Faltering in Africa Because Citizens Lack Confidence in Their National Currencies
7.8.2024
Despite clearly articulating reasons for de-dollarization in the Global South, African leaders will struggle to convince residents to embrace national currencies without changing economic management practices. People often lose confidence in a currency when a central bank excessively prints money...
Zambia De-Dollarization: Central Bank Seeks to Enforce Kwacha as Sole Legal Tender for Domestic Transactions
27.7.2024
The Bank of Zambia has defended its de-dollarization plans but also seeks input from stakeholders who oppose the proposal. The central bank governor clarified that they are not proposing anything new; instead, the bank aims to enforce existing laws designating the kwacha as the sole legal tender...
IMF Warns Zambia Against Dedollarization, Calls Plan Counterproductive
20.7.2024
An International Monetary Fund representative has cautioned that Zambia’s proposed dedollarization initiative may inadvertently undermine efforts to contain inflation. The representative expressed concern that the prevailing economic conditions in Zambia are not conducive for the country to proceed...
US Dollar Retains Global Dominance Despite BRICS Efforts, Reveals Atlantic Council Report
26.6.2024
Despite concerted efforts by the BRICS nations to decrease global dependence on the U.S. dollar, the fiat currency remains the dominant force in the world economy, a new study from the Atlantic Council’s Geoeconomics Center finds. The report underscores the challenges of de-dollarization amidst...
Dimon Doubles Down on Bitcoin Dislike, SBF to Aid Legal Action Against Celebrities, and More — Week in Review
28.4.2024
JPMorgan Chase CEO Jamie Dimon has reiterated his critical stance on bitcoin, labeling it a fraud and dismissing its potential as a legitimate currency. Former FTX CEO Sam Bankman-Fried has agreed to a settlement that involves cooperating with legal actions against celebrities linked...
Analysts: Confiscation of Russian Assets in the US Would Supercharge De-Dollarization
23.4.2024
Analysts are pondering the effects of the approval of the Rebuilding Economic Prosperity and Opportunity (REPO) Act by the U.S. House. The execution of seizures for over $6 billion of Russian assets held in U.S. institutions would “supercharge” the de-dollarization efforts of several...
Bitcoin's ‘De-Dollarization’ Narrative Loses Ground As USD Tightens Its Grip on International Transactions
17.1.2024
The crypto market's de-dollarization expectations look premature as the greenback remained the preferred currency in international transactions in 2023
Report: Turkey Exits From Foreign Exchange Protected Deposit Program
3.1.2024
On Jan. 1 Turkey ended its two-year-old foreign exchange (FX)—protected deposit program in what is seen as another step towards a return to orthodoxy. Treasury and Finance Minister, Mehmet Simsek also signaled the start of what he called a “permanent improvement in the current account.”...
India’s De-Dollarization Push Flounders as Oil Suppliers Cite Rupee Repatriation Concerns
28.12.2023
The Indian Oil Ministry recently acknowledged that the country’s push to pay for oil with rupees has failed because suppliers are not sure if they will be able to repatriate their funds. The decision is intended to help diminish India’s reliance on the U.S. dollar when settling...
Economist Steve Hanke: US Dollar Weaponization Has Powered Record Central Bank Gold Purchases
28.11.2023
Steve Hanke, professor of applied economics at Johns Hopkins University, has discussed how U.S. policies have driven central bank gold purchases to record levels this year. In an interview, Hanke stated that these purchases were motivated by the weaponization of fiat currencies like the dollar...
Russia’s Yuan Shift: EBRD Economist Warns of Waning US Dollar Dominance
28.9.2023
In a recent interview, the European Bank for Reconstruction and Development’s (EBRD) chief economist, Beata Javorcik, highlighted a notable trend: Russia’s growing inclination to transact in the Chinese yuan. This shift, the economist emphasized, could challenge the dominance of...
Economist Peter Schiff Warns of ‘Massive Crisis’ and a Rush to Exit US Dollar
14.9.2023
Economist Peter Schiff has warned of “a rush” to get out of the U.S. dollar. “There’s going to be a massive crisis,” he predicted, adding that “it’s going to send the economy into a tailspin and people are going to feel the economic pain.” Peter Schiff’s...