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Economist Jim Rickards Discusses US Dollar Decline and Potential $27,000 Gold
8.7.2024
Economist Jim Rickards has shared insights on the U.S. dollar’s decline, driven by sanctions and mounting debt, and the potential rise in gold’s value as nations seek alternatives like the BRICS currency. He warns that internal mismanagement is the greatest threat to the dollar’s...
Balaji Srinivasan Highlights China’s Dedollarization and Envisions Post-Dollar Economy
20.5.2024
Balaji Srinivasan, former CTO of Coinbase, recently shared his insights on the global economy and the future of the U.S. dollar on social media. He discussed the concept of dedollarization, suggesting that China and other countries are moving away from U.S. debt and investing in gold instead....
Former President Donald Trump’s Advisers Explore Penalties for Nations Ditching US Dollar
29.4.2024
Former U.S. President Donald Trump’s economic advisers are reportedly devising strategies to deter nations from reducing their reliance on the U.S. dollar. Proposed deterrents include export controls, currency manipulation charges, and tariffs. Trump remains committed to preserving the U.S....
Crypto Community Fires Back at Hillary Clinton’s Criticism of Bitcoin Undermining US Dollar as Reserve Currency
13.2.2024
The crypto industry has responded to criticism from Hillary Clinton, who said that cryptocurrency can undermine the role of the U.S. dollar as the world’s reserve currency. Galaxy Digital CEO Mike Novogratz argued that the only thing that can undermine the U.S. dollar as a reserve currency...
Russian President Putin Discusses Dedollarization — Calls US Dollar Weaponization a ‘Grave Mistake’
11.2.2024
Russian President Vladimir Putin says the U.S. dollar is the main weapon used by the United States to preserve its power across the world. However, he stressed that when “the political leadership decided to use the dollar as a tool of political struggle, a blow was dealt to this American...
Morgan Stanley Sounds Alarm on US Dollar’s Dominance — Says Crypto Could Significantly Alter Currency Landscape
22.1.2024
Morgan Stanley has warned about the risk of the U.S. dollar losing its dominance, fueled by growing interest in digital assets, including bitcoin. Emphasizing that the U.S. dollar’s dominance “is being increasingly scrutinized,” the investment bank stated: “A clear shift towards reducing...
Russian President Putin Says US Dollar-Based Global Financial System Is Collapsing
8.10.2023
Russian President Vladimir Putin has stated that the U.S. dollar-based global financial system is gradually collapsing. “After all, a currency is a derivative of the power of the economy of the country that issues this currency,” Putin noted, emphasizing: “The share of...
Venezuelan President Nicolas Maduro Calls for De-Dollarization of the Global Economy
28.8.2023
Nicolas Maduro, the president of Venezuela, has called to de-dollarize the global economy due to the difficulties the current system brings to emerging countries affected by U.S. sanctions. In a message directed to the BRICS leaders, Maduro called to establish alternative settlement systems using...
Gold-backed BRICS currency will be 'very hard' to deliver: Lyn Alden
22.8.2023
A BRICS common currency will be challenging to initiate and maintain, though efforts to dethrone the US dollar could have an impact on Bitcoin, says investment strategist Lyn Alden
BRICS Bank Issues First ZAR Bonds as It Looks to Use Local Currencies
18.8.2023
The New Development Bank (NDB), established by the BRICS bloc of emerging economies, has issued its first bonds denominated in South African rand (ZAR). The auction, which was closed on Tuesday, is part of the bank’s efforts to increase both fundraising and lending in local currencies. Development...
Former US OCC Officials: ‘Stablecoins Can Keep the Dollar the World’s Reserve Currency’
12.8.2023
Brian Brooks and Charles Calomiris, former officials at the U.S. Office of the Comptroller of the Currency (OCC), have stated stablecoins can be tools that might help the U.S. dollar maintain its status as a reserve currency. In a recent article, Brooks and Calomiris call for regulations to allow...
Brazil’s President Reaffirms De-Dollarization Call — Discusses BRICS Expansion
8.8.2023
Brazil’s President Luiz Inacio Lula da Silva has reaffirmed his call to shift away from the U.S. dollar in global trade. He also revealed his stance on the expansion of the BRICS economic bloc ahead of the group’s upcoming summit. “I have said publicly, why does Brazil need...
Bolivian Central Bank Using Chinese Yuan for International Settlements
28.7.2023
Economy Minister Marcelo Montenegro acknowledged that the Bolivian Central Bank is harnessing the Chinese yuan in its commercial settlements. The switch to using the Chinese currency has to do with the dollar scarcity that the country is facing, having to approve a law to sell part of its gold...
Economist Predicts End of US Dollar Dominance as More Countries De-Dollarize
13.7.2023
The chief economist at S&P Global has predicted that the U.S. dollar “will no longer be the dominant world currency.” Highlighting the diminishing influence of the USD, he pointed out that an increasing number of countries are de-dollarizing, noting that the Chinese yuan is growing...
Central Banks Reduce US Dollar Holdings, Plan to Increase Chinese Yuan Exposure, Study Shows
11.7.2023
A study by a $1.5 trillion asset management firm has revealed that central banks are reducing their U.S. dollar holdings while seeking to increase Chinese yuan holdings. “Central banks are diversifying currency holdings, stirred by geopolitical uncertainties and attractive opportunities...
Bolivia’s President Calls on South American Countries to Ditch US Dollar, Bolster Alliances With China and BRICS
6.7.2023
Bolivia’s President Luis Alberto Arce Catacora (Lucho Arce) has urged members and associated states of the Mercosur trade bloc to de-dollarize and establish stronger strategic alliances with international organizations, including the BRICS group. “We are experiencing a crucial moment...
Xi Jinping, Vladimir Putin Push for Increased Settlements in National Currencies
5.7.2023
Chinese President Xi Jinping and Russian President Vladimir Putin have pushed for the increased use of national currencies in mutual settlements as more countries shift away from the U.S. dollar. “I consider it essential to increase the share of settlements in national currencies”...
Chatgpt Accounts Found on Darknet, North Korean Analyst on Dollar Dominance, BCH Hashrate Rises With Price, and More — Week in Review
2.7.2023
It’s been an action-packed week in the world of finance and crypto, and moving into July, there’s a lot to cover to get up to speed: compromised Chatgpt accounts being sold on darknet markets, Bitcoin Cash’s hashrate shooting upward with the BCH price, a North Korean analyst...
Yuan Usage Soars in Argentina: Over 500 Companies Request to Pay for Imports in Chinese Currency, Report
27.6.2023
Over 500 companies in Argentina have reportedly requested to pay for imports using Chinese yuan as the U.S. dollar shortage worsens. “The central bank doesn’t have dollars so it needs the emergency aid China is offering,” a trade economist in Buenos Aires explained. Chinese Yuan Usage Hits Record...
US Treasury Secretary Defends Dollar Dominance as Emerging Markets Push to De-Dollarize
25.6.2023
U.S. Treasury Secretary Janet Yellen has defended the dominance of the U.S. dollar amid rising efforts by emerging countries to de-dollarize. Brazilian President Luiz Inácio Lula da Silva, in particular, is set to raise the issue of de-dollarization at the next BRICS meeting. “There is a very good...