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Treasury Secretary Yellen Warns US Could Default on Its Debt by June 1
2.5.2023
U.S. Treasury Secretary Janet Yellen has warned that the Treasury will not be able to pay all of the government’s debt “as early as June 1, if Congress does not raise or suspend the debt limit before that time.” Yellen also cautioned that the U.S. defaulting on its debt obligations...
Top Indian Banker Says US Dollar Has ‘Disproportionate Power’ as Reserve Currency; Retracts ‘Biggest Financial Terrorist’ Remark
1.5.2023
Uday Kotak, the CEO of Kotak Mahindra Bank, a financial institution based in India, recently expressed his view on the dominance of the U.S. dollar in global financial markets. Kotak stated that the U.S. dollar has “disproportionate power” as a reserve currency, retracting his previous...
Robert Kiyosaki Says Regional Banks Are Being Wiped Out — Calls Fed ‘Criminal’
1.5.2023
Rich Dad Poor Dad author Robert Kiyosaki says the Fed is wiping out regional banks by supporting only big banks, like JPMorgan Chase. Stating that the Fed “is criminal,” he warned that its actions “will bring down” the United States. Robert Kiyosaki Says the Fed Is Criminal The author of Rich...
Russian Official Expects Agreement on BRICS Currency This Year
1.5.2023
The chairman of the State Duma Committee on the Financial Market says that an agreement on the BRICS currency can be reached in 2023 as BRICS nations ramp up their de-dollarization efforts to shift away from U.S. dollar reliance. “By linking its economy and currency to politics, the U.S....
US Central Bank Expected to Raise Lending Rate by 25bps: Experts Predict Final Hike of 2023
30.4.2023
After the most recent increase in the federal funds rate, the U.S. Federal Reserve is set to raise the lending rate by 25 basis points (bps) to 5.25% in three days, according to expectations. A recent poll of 105 economists revealed that 94 of them predict a 25bps rate hike will occur during...
US Senator Rand Paul Warns of US Dollar Losing Reserve Currency Status — Says ‘It’s Not an Unfounded Prediction’
30.4.2023
U.S. Senator Rand Paul has warned that the U.S. dollar could lose its status as a global reserve currency. “For a variety of reasons, both foreign policy as well as fiscal irresponsibility, yes, the dollar is in a precarious position,” said the lawmaker. Senator Rand Paul on U.S. Dollar Losing...
Billionaire Ray Dalio Warns US and China on Brink of War, Beyond Ability to Talk — US-China Trade Could Collapse
30.4.2023
Bridgewater Associates founder Ray Dalio has warned that the U.S. and China are “on the brink of war” and “are beyond the ability to talk.” The billionaire added that their relations “are getting so bad” that U.S.-China trade could collapse. He cautioned that the next 18 months “will be a very...
Economist Predicts Shift to Tripolar Reserve Currency World — Yuan, Euro to Disrupt US Dollar’s Dominance
30.4.2023
Economist Stephen Jen, a former Morgan Stanley managing director, expects a shift “from a unipolar reserve currency world to a multipolar world,” with the Chinese yuan, the euro, and the U.S. dollar forming a “tripolar” reserve currency configuration. ‘A Multipolar World’ Economist...
Japan’s Inflation Surges to 3.5% as New BOJ Governor Takes the Helm
29.4.2023
This week, the Statistics Bureau of Japan unveiled the latest core consumer price index (CPI) report for the country, revealing a surge to 3.5%. This figure comes as a surprise to analysts who had predicted a more modest 2.9% for the end of the quarter. It’s worth noting that Japan’s...
Argentina to Settle Chinese Imports in Yuan to Safeguard Dwindling Dollar Reserves
29.4.2023
The economy minister of Argentina, Sergio Massa, announced that starting this month, payments for imports coming from China will be settled using the Chinese yuan. The agreement, which will allow the country to safeguard its dwindling dollar reserves, involves the disbursement of more than...
Putin: US Policies Will Backfire, Russia to Expand Relations With Countries in Eurasia, Africa, Latin America
29.4.2023
Russia’s president, Vladimir Putin, has slammed the actions of the elites in the U.S. and Europe, stating that they do not always act in the best interest of their own people. “It will backfire on them,” he said. Putin also called for a cohesive response to the West’s economic aggression...
Russia Actively Discussing BRICS Expansion With Member Nations, Official Reveals
29.4.2023
A Russian official has revealed that regular discussions are being held between Russia and other BRICS member nations regarding the expansion of the economic group. “This requires a thorough analysis and delicate internal work by the five countries to reach a consensus,” according...
Russian Foreign Minister Sergey Lavrov States De-Dollarization ‘Can No Longer Be Stopped’
28.4.2023
Russian Foreign Minister Sergey Lavrov has spoken on the current shift to national currencies and the de-dollarization international markets are currently experiencing. In a press conference after addressing the UN Security Council on April 25, Lavrov stated this shift could not be stopped,...
Former President Donald Trump Says US Dollar Is Crashing — Warns ‘We’re Very Close’ to World War III
28.4.2023
Donald Trump has warned that the U.S. dollar is crashing and soon will “no longer be the world standard.” The former president of the United States further warned that “we are very close” to a third world war happening. “Joe Biden has led us to the very brink of World...
Robert Kiyosaki Warns of Economic Chaos, War Breaking Out, Gold Crashing
28.4.2023
Rich Dad Poor Dad author Robert Kiyosaki has warned of economic chaos, a war breaking out, hyperinflation, and rising starvation. Commenting on de-dollarization on a “massive scale,” he stressed: “It’s a weaponization of our U.S. dollar against the world … It’s all coming down fast...
Chinese Yuan Overtakes US Dollar as Most Used Currency to Settle Cross-Border Payments in China
27.4.2023
The Chinese yuan is now China’s most used currency for cross-border settlements. According to official data from the State Administration of Foreign Exchange, the Chinese yuan rose to be the most-used currency in March over the U.S. dollar, in a push from the Beijing government...
Brazil’s President Lula Voices Support for BRICS Currency
27.4.2023
Brazil’s president, Luiz Inacio Lula da Silva, has expressed support for the creation of a BRICS currency. His statement of support comes as the BRICS bloc is gaining global influence, with 19 countries seeking to join the group. Brazilian President Lula Supports BRICS Currency Creation Brazilian...
Russia Calls for Prevention of ‘Full-Scale World War III’ — Official Warns ‘World Tensions Are White-Hot’
27.4.2023
A top Russian official has urged all countries to make efforts to ensure that the “threat of global confrontation, of a hot, full-scale World War III” does not materialize. “World tensions are white-hot indeed,” he warned. Russian Official: Full-Scale World War III Should...
BRICS Currency Will Erode US Dollar’s Dominance, Former White House Economist Warns
27.4.2023
Former White House economist Joseph Sullivan has warned that a BRICS currency would erode the U.S. dollar’s dominance. If member nations use only a common BRICS currency for international trade, “they would remove an impediment that now thwarts their efforts to escape dollar hegemony,”...
Argentina Debates Dollarization in the Midst of Rampant Devaluation and Inflation
26.4.2023
Javier Milei, a presidential candidate for the next election in Argentina, has presented a dollarization plan to fix the economy of the country if elected. The proposal, which has supporters and detractors, would aim to solve the historic devaluation of the Argentine peso and the 100%+ interannual...