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Analysts Weigh In on BRICS Currency as Tool to Face US Dollar-Based Sanctions

[Apr 14, 2023 3:00 AM] Analysts have begun considering using a future BRICS currency to sidestep U.S. sanctions and the dollar’s influence in international markets. While the rise of the U.S. dollar was significant to spur an era of economic growth after World War…

Bank of Russia Analysts Note Ditching US Dollar Is ‘Hardly Possible’ Without Structural Changes to Foreign Trade

[Apr 14, 2023 12:00 AM] A report from the research department of the Bank of Russia shows that, due to the structure of foreign trade contracts, it will be difficult to ditch the usage of the U.S. dollar to settle payments. The analysts found that contracts are often…

Peter Schiff Says Banking Crisis Not Over, Much Worse Financial Crisis Incoming — Warns of ‘Massive’ Recession

[Apr 13, 2023 7:30 PM] Economist Peter Schiff has cautioned that the present banking crisis is the cusp of a much worse financial crisis. “It’s going to get much much worse if you are going to try to dismiss it,” he stressed. Citing the Federal…

De-Dollarization Escalates Amid US ‘Economic Warfare’ and ‘Error-Fraught’ Policies, Economist Says

[Apr 13, 2023 6:00 PM] Economist Peter C. Earle says de-dollarization has begun, emphasizing that “It’s not just the conscription of the dollar in economic warfare, but increasingly error-fraught monetary policy regimes that are driving various interests away from…

Brazil’s President Lula Urges Developing Countries to Abandon Dollar as Global Reserve Currency

[Apr 13, 2023 11:30 AM] According to Brazil’s president Luiz Inácio Lula da Silva, developing countries should abandon the U.S. dollar and strengthen their own national currencies. During a speech at the New Development Bank in Shanghai, Lula expressed his nightly…

IMF Blog: Interest Rates to Fall to Pre-Pandemic Levels Once Inflation Is Tamed

[Apr 13, 2023 3:30 AM] When inflation in advanced economies is tamed, real interest rates are likely to drop to pre-pandemic levels, the latest International Monetary Fund (IMF) blog post has said. According to the authors of the blog post, the transition to a…

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…

IMF Economist Warns of Side Effects From Sharp Monetary Policy Tightening — Says Financial Risks Have Increased

[Apr 12, 2023 5:30 PM] The International Monetary Fund’s (IMF) economic counselor has warned of the side effects of sharp monetary tightening. Noting that “Inflation is much stickier than anticipated,” he stressed that “financial risks have risen.” IMF…

Warren Buffett Likens Bitcoin to Gambling and Chain Letters in Recent Interview

[Apr 12, 2023 1:30 PM] Finance mogul Warren Buffett, one of the most successful investors in history, discussed bitcoin during an interview on CNBC’s Squawk Box on April 12. As he has done in previous interviews, the business magnate likened bitcoin to a gambling…

Russian Central Bank Attributes Recent Ruble Depreciation to Lower Forex Sales by Exporters

[Apr 12, 2023 11:30 AM] The Russian central bank has attributed the ruble’s latest plunge against the U.S. dollar to the temporary reduction “in sales of foreign currency earnings by exporters.” The central bank also revealed that the Chinese yuan…

US Treasury to Attempt Coercing European Countries Into Implementing Sanctions Against Russia

[Apr 12, 2023 5:30 AM] Officials of the U.S. Treasury Department will travel to Europe this month with the objective of getting more countries to apply punitive actions against Russia. The tour, which includes visits to Switzerland, Italy, and Germany, aims to stop the…

Iran Top Security Official Believes Recent De-Dollarization Efforts Will Doom ‘Illegal Western Sanctions’ to Failure

[Apr 12, 2023 2:00 AM] Ali Shamkhani, secretary of the National Security Council of Iran, has stated that the recent bilateral cooperation efforts between his country and Russia are contributing to rendering U.S.-established sanctions useless at a global level. The…

Roubini: We’re Shifting to ‘Bipolar’ Global Reserve Currency System With Chinese Yuan as Alternative to US Dollar

[Apr 11, 2023 8:00 PM] Economist Nouriel Roubini, also known as “Dr. Doom,” predicts that the global reserve currency system will shift from unipolar to bipolar. He expects most countries that attempt to reduce their reliance on the U.S. dollar to propose the…

China’s Inflation Rate Drops to Lowest in 18 Months

[Apr 11, 2023 4:00 PM] The annual inflation rate in China has unexpectedly slowed down in March to its lowest level in a year and a half, the latest statistical data indicates. On a monthly basis, consumer prices decreased for a second consecutive month, despite…

Explaining ‘Bank Walks’ — Study Assesses How They Might Affect Credit

[Apr 11, 2023 3:30 AM] Bank walks are a new liquidity movement phenomenon identified by analysts, characterized by a slow drift of deposits to take advantage of better yield opportunities. Such “walks” might prove to be pernicious to the banking system, as…

Strategist Expects US Recession by Year-End, Fed Tightening to Drag Down Economy

[Apr 11, 2023 12:30 AM] Investment bank MPS Capital Services has warned that the U.S. economy will be in a recession by year-end. The firm’s strategist predicts that the Federal Reserve will raise interest rates by an additional 25 basis points, warning that the…

Economist Harry Dent Expects Biggest Crash in Our Lifetime to Hit Between Now and Mid-June

[Apr 10, 2023 7:30 PM] Harry Dent, economist and author of several best-selling books, has warned that the biggest crash in our lifetime is “going to hit between now and about mid-June.” He stressed: “People are going to know this is not a big…

JPMorgan CEO Jamie Dimon Says Banking Crisis Not Over — Warns of ‘Repercussions for Years to Come’

[Apr 10, 2023 5:30 PM] JPMorgan Chase CEO Jamie Dimon says the U.S. banking crisis is not over and “there will be repercussions from it for years to come.” The executive added that recent bank failures “have significantly changed the market’s…

French President Emmanuel Macron States Europe Must Reduce Its Dependence on the US Dollar to Avoid Becoming ‘Vassals’

[Apr 10, 2023 3:30 PM] Emmanuel Macron, president of France, clarified his position on the future of Europe and its relations with China and the U.S. in the short term. Returning from his visit to Beijing, Macron believes that Europe should avoid getting caught up in a…

Economists Expect the Fed to Reveal Another 25bps Rate Hike Before Pausing for the Rest of 2023

[Apr 10, 2023 8:00 AM] After the March rate hike by the Federal Reserve, economists believe that the recent move by Saudi Arabia and several members of the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production could complicate the central…

China Keeps Stockpiling Gold, Adds 18 Tons in March to Reach 2,068 Tons in National Reserve

[Apr 10, 2023 3:30 AM] The People’s Bank of China (PBOC) reported an increase in the country’s gold reserves of 18 tons in March, continuing its buying spree. China has consistently added to its gold reserves since November, purchasing more than 100 tons in…

US Economy at Risk of Crash Landing, Allianz Warns

[Apr 9, 2023 7:30 PM] Allianz, one of the world’s largest insurers, has warned that the U.S. economy is headed toward a crash landing. “We expect the economic momentum to deteriorate during the second half of the year on the back of rapidly tightening credit conditions…

US Dollar Could Lose Most of Its Value in 5 Years, Investment Manager Warns

[Apr 9, 2023 5:30 PM] Investment manager Larry Lepard has warned that the U.S. dollar could lose most of its value within five to 10 years. Following the onset of the Russia-Ukraine war, “the U.S. did something which I perceived to be very stupid, which is it…

Economist Jim Rickards Says US Dollar’s Greatest Enemy as Reserve Currency Is the Treasury

[Apr 9, 2023 11:30 AM] Jim Rickards, an economist and the author of “Currency Wars,” says the U.S. Treasury is actually the biggest threat to the U.S. dollar’s status as a reserve currency. However, he cautioned that an increasing number of countries…

US Bank Lending Drops by Record $105 Billion in Two Weeks, Trillions Moving to Money Market Accounts, Elon Musk Warns ‘Trend Will Accelerate’

[Apr 9, 2023 9:30 AM] The banking industry in the United States is still struggling after the collapse of three major banks. According to statistics, bank lending in the U.S. has dropped by close to $105 billion in the last two weeks of March, which is the largest…

Economist Peter Schiff Advises ‘Get Rid of Your US Dollars Now’ — Warns USD’s Reserve Currency Status in Jeopardy

[Apr 8, 2023 7:30 PM] Economist Peter Schiff has urged people to get rid of their U.S. dollars now as a growing number of countries have escalated their efforts to reduce their dependence on the U.S. and the USD. “The dollar’s reserve currency status is in…

Robert Kiyosaki Says ‘America Is Dying’ — Warns of Hyperinflation, Death of US Dollar

[Apr 8, 2023 5:30 PM] Rich Dad Poor Dad author Robert Kiyosaki has issued a warning about the potential demise of the U.S. dollar and the looming threat of hyperinflation. He has expressed concern that the USD may lose its value and “become toilet paper.”…

Saudi Arabia Strengthens Bond With China by Joining SCO Bloc as Dialogue Partner

[Apr 8, 2023 11:30 AM] China’s relationship with Saudi Arabia is growing as the country’s Cabinet has agreed to join the Shanghai Cooperation Organization (SCO). The diplomatic move made by the kingdom began with a memorandum of understanding in September…

Tucker Carlson Blames Recent De-Dollarization Movements on Russian Sanctions and US Dollar Weaponization

[Apr 7, 2023 10:30 PM] Tucker Carlson, host of Fox News and the “Tucker Carlson Tonight” show, analyzed the situation surrounding de-dollarization movements that countries like China and Russia have promoted recently. Carlson stated that sanctions on Russia…

Former US President Donald Trump States China Is ‘Trying to Replace the Dollar as Number One Currency’

[Apr 7, 2023 3:30 AM] Former U.S. President Donald Trump has acknowledged the push that China is making to dethrone the dollar as a reserve currency. In a post published on Truth Social, Trump stated that if this comes to happen, it would be the biggest defeat in the…