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Ron Paul on the Future of the US Dollar: ‘The World Is Clearly De-Dollarizing’
24.4.2023
Ron Paul, the former U.S. presidential candidate and former U.S. congressman, has stated that recent geopolitical events have caused nations to start ditching the U.S. dollar. Paul stated that the debasement of the currency, the manipulation of prices, and sanctions against other nations have made...
Russia to Increase Reliance on National Currencies in Energy Trade, Vows to Move Away From the US Dollar
24.4.2023
Russia will increase its reliance on national currencies to settle payments for its energy resources, moving away from the US dollar, according to Russian Deputy Prime Minister Alexander Novak. Novak noted there is a great interest in acquiring Russian energy resources, leading Russia to accept...
Zimbabwe's Central Bank Plans Gold-Backed Digital Currency to Stabilize Local Economy
24.4.2023
The central Reserve Bank of Zimbabwe (RBZ) plans to introduce a gold-back digital currency, meant to be used as legal ledger within the country.
The new currency will be used for transactions within the South African nation as part of its plans to stabilize the local currency, The Sunday Mail...
Syrian Official Says US Imposes Sanctions to Steal Nations’ Assets and Exert Control
24.4.2023
The Syrian foreign minister says the U.S. imposes sanctions on Syria and Russia to steal their assets and keep them under its hegemony. The U.S. is “the biggest beneficiary of wars and fueling global conflicts, with the aim of maintaining the dominance of the dollar in the global economy...
Anti-Russia Sanctions Will Trigger Global Economic Crisis, Russian Official Warns
24.4.2023
Russia has warned that existing and new anti-Russia sanctions imposed by the U.S. and other Western countries will lead to a global economic crisis. “Both the current sanctions that have been imposed against our country and the new additional steps that Brussels and Washington are probably...
Republicans Seek to Repeal Biden’s Inflation Reduction Act in Exchange for Raising US Debt Limit
23.4.2023
There has been a lot of commentary concerning the U.S. raising its debt limit, as Treasury secretary Janet Yellen said last month that a U.S. default would be “devastating,” and European Central Bank president Christine Lagarde warned it would be a “major disaster” if...
China Warns of Global Financial Instability From US Economic Policies
23.4.2023
China has urged the U.S. and other developed nations to assess the spillover effects of their economic and financial policies. “The economic and financial policies of the U.S. pose the biggest challenge to global financial stability,” according to the Chinese Ministry of Foreign Affairs. China...
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...
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...
Putin and Saudi Crown Prince Discuss Potential BRICS-Saudi Arabia Collaboration
22.4.2023
Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman Al Saud discussed potential collaboration between Saudi Arabia and the BRICS on Friday. In addition, Putin and the Saudi Crown Prince “expressed satisfaction with the level of coordination at OPEC Plus aimed...
Bank of Russia Has Stockpiled Reserve Comprised of Non-US Sanctioned Assets, Governor States
21.4.2023
Elvira Nabiullina, governor of the Bank of Russia, has affirmed the bank has stockpiled reserves in assets that are not susceptible to being affected by U.S. sanctions. The official clarified that Russia has built a “safety cushion” in these assets while it continues working on creating...
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,”...
Commodity Strategist Warns US Economy Heading Toward ‘Severe Deflationary Recession’
21.4.2023
Bloomberg Intelligence’s senior commodity strategist, Mike McGlone, has warned that the U.S. economy is “heading towards a severe deflationary recession,” emphasizing that the Federal Reserve is still tightening. “Typically, when you have commodities collapsing at this velocity...
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...
Russian Foreign Minister Sergey Lavrov Explains ‘Multipolar’ World View in Brazil
19.4.2023
Sergey Lavrov, the Russian foreign minister, started his tour of Latin America on April 17, landing first in Brasilia to hold high-level talks with Brazilian President Luiz Inacio ‘Lula’ da Silva and Brazilian Foreign Minister Mauro Vieira. Lavrov insisted that Russia was building...
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...