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Stablecoins would help US keep up with China: Former House speaker

[Jun 16 10:20 PM] The need for the U.S to implement dollar-backed stablecoins “couldn’t be timelier” as China continues to come up with its own solutions, former House speaker Paul D. Ryan stressed.

Russian President Putin Says US Dollar-Based Global Financial System Is Collapsing

[Oct 7, 2023 9:30 PM] 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…

Chinese Yuan Not Ready to Topple US Dollar as World Reserve Currency, Says Strategist

[Sep 1, 2023 7:00 PM] A global macro strategist has explained that the Chinese yuan is unlikely to replace the U.S. dollar as the global reserve currency. She emphasized that the “weaponization” of the USD is one of the top reasons why Russia, China, and…

Indian Official: De-Dollarization Remains Distant, Rupee Should Become Dominant Currency

[Aug 26, 2023 11:30 PM] India’s oil and gas minister says de-dollarization is a long way away. The official emphasized his desire to conduct all transactions in rupees, expressing his wish for the Indian currency to become “the lead currency in the world.” Indian Official�

Economist Expects US Rating Downgrade to Accelerate De-Dollarization Process

[Aug 4, 2023 10:00 PM] Economists have warned about the adverse impact of Fitch’s U.S. rating downgrade on the dollar. One expects the downgrade to “accelerate” the process of de-dollarization globally. Another stated that it may be “a part of the…

Russia, 10 Southeast Asian Nations Discuss Using National Currencies in Trade Settlements

[Jul 14, 2023 9:30 PM] Russia is discussing using national currencies in trade settlements with 10 Southeast Asian countries, members of the Association of Southeast Asian Nations (ASEAN), Russian Foreign Minister Sergey Lavrov has revealed. The move comes as more and…

BRICS Gold-Backed Currency Will Benefit Iran, Weaken US Dollar, Iranian Official Says

[Jul 9, 2023 8:30 PM] An Iranian official has stated that Iran stands to benefit from a gold-backed common BRICS currency. The official further asserted that such a BRICS currency would erode the U.S. dollar’s dominance and result in increased wealth for Iranians…

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…

Central Banks Show ‘a Lot More Pessimism’ About US Dollar, Survey Shows

[May 31, 2023 5:30 PM] The latest gold reserves survey by the World Gold Council shows that central banks are less optimistic about the future role of the U.S. dollar while their confidence in gold has risen. “There was basically a lot more pessimism about the U.S…

BRICS De-Dollarization Push, China, and Crypto Threaten US Dollar’s Dominance: Analyst

[Apr 18, 2023 7:30 PM] 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…

Growing Links Between Middle East, Russia, China Pose Huge Challenge for US, Warns Former Treasury Secretary

[Apr 16, 2023 5:30 PM] Former Treasury Secretary Lawrence Summers has expressed concerns that a rising number of countries, including China, Russia, and the Middle East, are aligning themselves and gaining global influence. “I think [it] is a huge challenge for the…

Former Treasury Official Warns of Complete Economic Implosion if US Dollar Loses Global Reserve Currency Status

[Mar 28, 2023 5:30 PM] Former Assistant Secretary for Public Affairs for the U.S. Department of the Treasury Monica Crowley has warned of “catastrophic” consequences if the U.S. dollar loses its status as the world’s reserve currency. “That would mean the end of the U.S