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Economist Peter Schiff Warns ‘Death Blow’ Coming for US Dollar — USD to Lose Reserve Currency Status
23.4.2023
Economist Peter Schiff has warned that a death blow is coming for the U.S. dollar and the USD will lose its global reserve currency status in this financial crisis. “People are still reluctant to call it a financial crisis, but that’s exactly what it is, except it’s bigger in scale and it’s going...
Pepe Token Surges 77% in 24 Hours, Leading the Top 10 Meme Coins’ Market Gains
23.4.2023
In the aftermath of a downturn in the wider crypto market, the top crypto assets bitcoin and ethereum have each risen modestly, between 1.2% to 1.6%, over the past 24 hours. However, the meme token pepe (PEPE) has surged 77% against the U.S. dollar, and its market capitalization has swelled to $141...
Do Kwon Challenges SEC’s Jurisdiction in Multibillion-Dollar Crypto Securities Fraud Case
22.4.2023
Attorneys defending the co-founder of Terraform Labs, Do Hyeong Kwon, also known as Do Kwon, have presented their argument that says the U.S. Securities and Exchange Commission (SEC) has no jurisdiction in the matter. The legal team asserts that U.S. law precludes regulators “from using...
Citi Analysts Predict ‘Near-Perfect Conditions’ for Silver’s Ongoing Bull Market; Experts Suggest $30 an Ounce a Possibility
22.4.2023
The price of silver fell 2.85% against the U.S. dollar last week. However, taking a broader perspective, the precious metal has made significant gains this year. Over the past six months, silver has risen more than 29% against the greenback, and as of April 22, 2023, it was hovering around $25.08...
BRICS Bank ‘Re-taps Into USD Bond Market’ With $1.25 Billion ‘Green’ Bonds
22.4.2023
The development bank established by the BRICS group of nations has issued its first “green” bonds in U.S. dollars (USD). Proceeds from the placement will be used to fund “green” projects supported under the banking institution’s sustainable financing policy. BRICS Development Bank Launches 3-year...
Financial Analyst Charles Nenner Warns About the End of the US Dollar and Its Consequences
22.4.2023
Charles Nenner, a financial analyst that served as head of market timing for Goldman Sachs for more than a decade, has warned about the end of dollar hegemony and its consequences for the U.S. According to Nenner, the BRICS bloc and the influence of Saudi Arabia will end the dollar as a reserve...
Global Reserves Held in US Dollars Fell to Less Than 50% — Official States It Has Become a ‘Toxic’ Currency
22.4.2023
The percentage of reserves held in U.S. dollars by central banks has fallen to less than half of the global total of reserves, according to a note from Eurizon SLJ Asset Management. The note states that the recent sanctions enacted by the U.S. against the Bank of Russia have eroded trust in...
White House Economist Warns China Wants to Weaken US Dollar’s Reserve Currency Status — Senator Says Biggest Threat Comes From Within
22.4.2023
In a congressional hearing, White House economist Jared Bernstein says there’s “some evidence” that China wants the U.S. dollar to lose its status as the world’s reserve currency. However, U.S. Senator Bill Hagerty stressed that the biggest threat to the USD dominance comes from within. China Wants...
Arkansas Makes Gold, Silver Legal Tender; 23 States Involved in Similar Legislation to Establish US Dollar Alternatives
21.4.2023
A bill signed into law on April 11 has made gold and silver legal tender in the U.S. state of Arkansas, allowing citizens to use gold and silver coins to pay debts. The bill also clarifies that gold and silver “specie” (coins) will not be considered property for tax purposes,...
Iranian Professor: Saudi Arabia May Join De-Dollarization Shift as US Dollar Is Now ‘Unreliable and Dangerous’
21.4.2023
A University of Tehran professor and member of Iran’s Presidential Delegation to China has stressed the importance of de-dollarization for the international community. “The dollar has been used as a weapon by the U.S. against different countries. It is unreliable and it is dangerous,”...
Dollar Dominance Fading Amid Growing China Trade, Russia Sanctions Risks, Ray Dalio Says
21.4.2023
Fewer nations are willing to hold the U.S. dollar as America’s share in the global economy becomes smaller while China’s role in international trade expands, billionaire Ray Dalio noted. The founder of the world’s largest hedge fund also said that Western sanctions on Russia have highlighted...
Crypto Industry Report: BTC Beats Nasdaq Index and Gold in Q1, Liquid Staking Governance Tokens up by 210%
20.4.2023
According to the latest Coingecko crypto industry report, during the first quarter of 2023, bitcoin became the best-performing asset after it saw its U.S. dollar value go up from just under $17,000 observed on Dec. 31, 2022, to just over $28,000 by March 31, 2023. The report attributes the crypto...
Gold Slides on Higher US Treasury Yields, Dollar
19.4.2023
Prices of gold, and other precious metals, fell on Wednesday due to stronger U.S. yields and national currency. The decline comes on the backdrop of expectations of new interest rate increases next month amid persistent inflation in the United States and elsewhere. Gold and Silver Slip as Investors...
Strategists: US Dollar’s Reserve Currency Status Eroding at ‘Alarming Pace’
19.4.2023
Asset management firm Eurizon SLJ’s strategists have warned that the erosion of the U.S. dollar’s global reserve currency status has accelerated at an alarming pace in recent years, especially following the onset of the Russia-Ukraine war. They noted that the USD has declined 8% in one year...
BRICS De-Dollarization Push, China, and Crypto Threaten US Dollar’s Dominance: Analyst
19.4.2023
Fitch Solutions’ global head of country risk has named the rising adoption of cryptocurrencies, the de-dollarization efforts by the BRICS countries, and China’s rising “economic might” as key factors that erode the U.S. dollar’s dominance over time. He cautioned that...
US wholesale CBDC has ‘promise,’ Fed governor says, but retail ‘difficult to imagine’
18.4.2023
Federal Reserve Board governor Michelle Bowman discussed a potential U.S. CBDC in a speech at Georgetown University
ECB President Lagarde Warns of ‘Major Disaster’ If US Defaults on Debt Obligations
18.4.2023
There is a lot of discussion lately about the U.S. government’s debt ceiling and whether Congress will act before defaulting. In a recent interview, Christine Lagarde, the president of the European Central Bank (ECB), said she is confident the U.S. can maintain its debt obligations. However...
Economist and Political Scientist Refute Claims of US Dollar’s Demise Despite Trend of De-Dollarization News
17.4.2023
This year, there has been a flurry of news reports and opinion editorials discussing an alleged de-dollarization trend amid a wave of disclosures associated with the BRICS bloc. In a recent article, the American political scientist and author Ian Bremmer insisted that claims of the U.S. dollar...
Price analysis 4/17: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOL
17.4.2023
Bitcoin and select altcoins are witnessing a pullback, indicating that traders may be booking profits and reducing risk
Tether Stablecoin Sees 22% Growth in 2023 Despite Dollar-Pegged Token Economy’s Contraction
17.4.2023
Since January 2023, the number of tether stablecoins in circulation has grown from 66 billion to the current 80.9 billion, representing growth of more than 22% this year. Tether’s growth is approaching the high of $83 billion in stablecoins in circulation that the project saw almost a year...