38 / 42 Relevant items tagged with #Economics
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ASEAN Countries Take Steps to Reduce Reliance on US Dollar for Trade Settlements
[Apr 3, 2023 6:30 PM] The finance ministers and central bank governors of the Association of Southeast Asian Nations (ASEAN) are exploring ways to decrease their countries’ dependence on the U.S. dollar and promote the use of local currencies in trade settlements…
Ron Paul on the Fall of the US Dollar as Reserve Currency: ‘It’s Always Longer Than Some Predictions’
[Apr 3, 2023 4:30 PM] Ron Paul, a former U.S. representative and member of the Libertarian Party, has addressed recent events directed to undermine the influence of the U.S. dollar as a reserve currency in international markets. Paul believes that even if this does…
India to Facilitate International Settlements in Rupees to Reduce Dependence on the US Dollar
[Apr 3, 2023 2:30 AM] The government of India has announced that it will facilitate the settlement of international transactions using its national currency, the rupee. As part of its foreign trading policy framework implemented on April 1, the country introduced this…
‘Dr. Doom’ Nouriel Roubini Warns of Looming Banking Crisis and Trilemma for Central Banks
[Apr 2, 2023 9:30 PM] Economist Nouriel Roubini has shared his opinion about bank problems in the United States in a recently published opinion editorial. In the article, Roubini insists that “most U.S. banks are technically near insolvency, and hundreds are…
Saudi Arabia and OPEC Reveal Surprise Oil Production Cut; White House Insists Cuts Aren’t Advisable Right Now
[Apr 2, 2023 5:30 PM] On Sunday, Saudi Arabia and several major oil producers announced their plan to cut oil production by 1.15 million barrels per day, starting in May and continuing until the end of 2023. According to the Saudi Energy Ministry, the move was…
‘Big Short’ Investor Michael Burry Says He Was Wrong to Advise Selling; Congratulates ‘BTFD Generation’
BRICS Nations Working on Creating New Currency to Be Discussed at Next Leaders Summit: Report
The Behavioral Economics Of Bitcoin
[Apr 1, 2023 6:00 AM] The heuristics often described in behavioral economics offer insightful frameworks for understanding mainstream resistance to Bitcoin. This is an opinion editorial by Rich Feldman, a marketing executive, author and advisory board member at Western…
BRICS Emerges as the World’s Largest GDP Bloc, Propelled by China’s Rapid Expansion
[Mar 31, 2023 10:30 AM] BRICS, a set of countries grouped as an alternative to the G7, is now the world’s largest gross domestic product (GDP) bloc, taking purchasing power parity into account, according to reports from Acorn Macro Consulting. Powered By…
China Makes Advances in Ditching the US Dollar for Settlements — Inks Deal With Brazil and Completes First Yuan LNG Purchase
[Mar 31, 2023 2:30 AM] China has been advancing its goal of positioning the yuan as an alternative to the U.S. dollar for settling international payments. The Chinese government recently struck a bilateral deal with Brazil to settle trades using their national currencies…
Economist Peter Schiff Warns of US Dollar Devaluation and ‘Biggest Economic Disaster’ in History
While Biden and Trump Blame Each Other for Bank Failures, Others Believe the Cause Might Be a Management Issue
[Mar 30, 2023 4:30 AM] The recent banking failures involving the fall of Silicon Valley Bank (SVB), Signature Bank, and Silvergate Bank, have high-profile government individuals trying to find a culprit. U.S. President Joe Biden and former President Donald Trump have…
World’s Largest Asset Manager Blackrock Predicts No Fed Rate Cuts This Year
Fed Bank President: Banking Crisis Tips US Economy Toward Recession
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
Market Strategist Discusses ‘Super Bubbles’ Bursting — Warns of ‘Outrageously Consequential, Painful Effects’
Experts Predict More Bank Failures in the US Following Interest Rate Hike and Unsettled Banking Crisis
[Mar 27, 2023 12:30 PM] After the recent bank collapses in the U.S., a number of people believe that more failures are coming following the Federal Reserve’s increase of the benchmark interest rate by 25 basis points (bps). American journalist Charles Gasparino…
Analyst Predicts Gold Prices Might Exceed $8,000 in the Next Decade as Central Banks Lose Confidence in Foreign Currency
[Mar 27, 2023 3:30 AM] Jan Nieuwenhuijs, a gold market analyst, has predicted that gold might exceed prices of $8,000 during the next decade, as the current Ukraine-Russia war, and the worldwide battle against inflation, shift the preference of central banks for foreign…
A Look at the Fed’s Recent Custodia Bank Denial and the Central Bank’s Push Back Against Narrow Banking
[Mar 26, 2023 10:30 PM] Over the past century, the number of American banks has significantly decreased, dropping from 30,000 banks in 1921 to 4,997 U.S. banks in 2021, according to data from the Federal Reserve. Recently, the U.S. central bank denied Custodia Bank of…
Billionaire Barry Sternlicht Warns of Hard Landing — Says ‘Economy Is Going to Implode’
[Mar 25, 2023 9:30 PM] Billionaire Barry Sternlicht, chairman and CEO of Starwood Capital Group, has warned that the U.S. economy is going to implode, emphasizing that interest rates have to fall. He further stressed that the economy “will have a hard…
Billionaire Bill Ackman on US Banking Crisis: ‘I Fear We Are Heading for a Train Wreck’
Robert Kiyosaki Says Fed Rate Hikes Will Crash Stocks, Bonds, Real Estate, and US Dollar
[Mar 25, 2023 5:30 PM] The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has warned that the Federal Reserve’s continued rate hikes will crash stocks, bonds, real estate, as well as the U.S. dollar. He expects the next crash to be the…
Billionaire ‘Bond King’ Jeffrey Gundlach Predicts the Fed Will Cut Rates Substantially Soon
Putin, Xi Vow to Use Yuan as Russia and China Move to Settlements in National Currencies
[Mar 22, 2023 4:00 PM] As part of the talks that Russian president Vladimir Putin and Chinese president Xi Jinping are currently conducting in Russia, Russia has vowed to move to use the Chinese yuan as a settlement currency with countries in Asia, Africa, and Latam…
US Central Bank’s Fednow Payment Service to Launch in July, Economist Calls Timing ‘Suspicious’
[Mar 22, 2023 11:30 AM] According to the U.S. Federal Reserve, the central bank’s Fednow payment service will start operating in July, and participants will be certified in April to leverage the Fednow Pilot Program. Ken Montgomery, the Fednow program executive, is…
Central Bank of Venezuela Lags in Delivering Economic Data, Experts Fear Upcoming Hyperinflation
[Mar 22, 2023 2:30 AM] The Central Bank of Venezuela is lagging when it comes to delivering economic data this year, failing to publish the inflation numbers for the last four months. Venezuelan economists believe this delay might mean that the country is starting to…
Bitcoin Network Preps for Another Difficulty Spike as Hashrate Remains Strong and Miners Profit Amid Price Surge
[Mar 21, 2023 10:00 AM] Following the last two difficulty increases on the Bitcoin network, another rise in difficulty is expected to take place on March 24, 2023. Statistics show that Bitcoin’s hashrate has remained high despite the last two adjustments, and block…