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Treasury Secretary Yellen: BRICS Currency Won’t Threaten US Dollar Dominance

[Jul 9, 2023 6:30 PM] U.S. Treasury Secretary Janet Yellen has stated that she does not see the U.S. dollar’s dominance being threatened by any development, including the proposed BRICS currency. Yellen stressed that all the data of which she is aware shows that the…

BRICS Bank Official Discusses Common Currency as Reports of Gold-Backed BRICS Currency Gain Attention

[Jul 8, 2023 8:00 PM] The BRICS Bank’s vice president and chief financial officer has shed light on the economic bloc’s aspiration to develop a common BRICS currency. His remarks followed recent reports suggesting that Russia has confirmed the BRICS’ plan to…

US Treasury Secretary: No Alternative Reserve Currency Can ‘Replicate’ Role Played by the Dollar

[Jun 16, 2023 1:30 AM] United States Treasury Secretary Janet Yellen recently told members of the U.S. Congress that while some countries are seeking to create alternatives to the greenback, no country, including China, can create a currency which replicates the…

Economist Discusses Viability of BRICS Currency — Says Pegging to Chinese Yuan Would Be ‘First Major Step’

[Jun 14, 2023 11:30 PM] An economist, who previously worked at the Bank for International Settlements (BIS), has provided insights on the possibility of a BRICS currency coexisting with the U.S. dollar. Noting that China is a major trading partner of all BRICS nations, he…

Chinese Yuan, Euro, Digital Currencies Challenge US Dollar Dominance, TD Economist Says

[Jun 6, 2023 5:30 PM] A senior economist at financial services firm TD says the Chinese yuan, the euro, and digital currencies could erode the U.S. dollar’s dominance. “Several countries have shown frustration with the dominance of the dollar and are pursuing…

US Dollar Will Lose Dominant Status, China and India Could Play Key Role in Currency Shift, Says Economist Lord O’Neill

[Jun 2, 2023 9:30 PM] Lord Jim O’Neill, the British economist credited with coining the acronym BRIC, has explained that the U.S. dollar will lose its dominant status. He expects the Chinese yuan and possibly the Indian rupee to become “much more important…

BRICS to Strengthen Economic Cooperation — Sherpa Calls for Increased Trade in National Currencies

[May 17, 2023 7:30 PM] South Africa’s BRICS Sherpa says one of the priorities at the upcoming BRICS summit is “to strengthen economic cooperation.” He added: “We need a stable global financial architecture, a global financial arena. That is why we say that we need to…

BRICS Leaders Set to Discuss Common Currency to Challenge US Dollar Dominance in Upcoming Summit

[May 10, 2023 9:30 PM] The BRICS nations are set to discuss the feasibility of a common currency at the upcoming leaders’ summit. “It’s a matter we must discuss and discuss properly,” a South African minister stressed, noting that a growing number of countries are…

Investment Analyst Warns Successful BRICS Currency Could Hurt US Living Standards

[May 10, 2023 7:30 PM] Investment analyst Jon Wolfenbarger has warned that a successful BRICS currency could hurt U.S. living standards and “lead to less power for the U.S. government, similar to the weakening of the UK after World War II.” He stressed: “Due to the…

Russian Official Expects Agreement on BRICS Currency This Year

[Apr 30, 2023 4:00 PM] 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…

Russia Actively Discussing BRICS Expansion With Member Nations, Official Reveals

[Apr 28, 2023 6:00 PM] 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…

Brazil’s President Lula Voices Support for BRICS Currency

[Apr 26, 2023 9:30 PM] 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…

BRICS Currency Will Erode US Dollar’s Dominance, Former White House Economist Warns

[Apr 26, 2023 5:30 PM] 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…

De-Dollarization Trend Irreversible, Flight From US Dollar Sure to Accelerate, Says Russian Official

[Apr 15, 2023 9:30 PM] Russia’s foreign minister says a flight from the U.S. dollar “is sure to accelerate,” emphasizing that “this trend is irreversible.” The official added: “The path of sanctions is the path to nowhere. Serious countries…

BRICS Nations Push to Expand Global Influence to Counter the West’s ‘Destructive Actions’

[Apr 12, 2023 7:30 PM] The BRICS nations are focusing on increasing their international roles and “enhancing coordination on key multilateral platforms,” Russia’s Minister of Foreign Affairs reportedly revealed after a meeting with BRICS ambassadors. He stressed “the…