During his presidential campaign, former President Donald Trump referred extensively to the issue of the inflationary vortex in which the US economy has been involved. In addition, he highlighted the importance of maintaining the dollar as the world’s main reserve currency by pointing to the possibility of the US imposing countermeasures on countries that abandon …
Tag: dollar
BRICS: The new global financial order will be achieved by removing sanctions, using cryptos, gold and de-dollarization
Russia will soon turn to cryptocurrencies as the most convenient method to circumvent the heavy international sanctions that have affected the economy amid its ongoing war efforts in Ukraine. “We are taking a historic decision in the financial sector,” said Anatoly Aksakov, head of the lower house, according to Reuters. The State Duma approved the …
A move away from the dollar could hurt the Εconomies of Russia, China and India
Despite the ongoing movement, the dominance of the dollar is unlikely to disappear easily and quickly, given how pervasive the dollar is in financial markets. De-dollarization cannot happen at a rapid pace because the infrastructure required to make it happen is extremely daunting because all governments and countries will have to change the way they …
Trump Presidency 2.0: The Dollar will be sacrificed to deal with the huge Public Debt
The US must abandon its “mammoth deficits” if it is to keep US debt levels manageable for decades to come. The over-indebted US economy can no longer bear, in the context of geopolitical realignments, to support the “excessive monetary privilege” of the dollar, and in order for the new presidency of Donald Trump not to …
New world order is coming with Cryptocurrencies, Gold and BRICS
More and more are sounding the alarm about the exploding US national debt, now approaching $35 trillion, or 120% of GDP. Interest payments have become the biggest burden on the national budget, followed by defense spending and transfer payments. In early June, former US House Speaker Paul Ryan proposed that the US government accept stablecoins, …
Gold Overtakes Euro as Reserve – Next Currency is the Dollar
There has been a large increase in the share of gold in central bank purchases since 2009 at the expense of fiat currencies. In fact, by the end of 2023, gold has overtaken the euro, while the next currency to challenge is the US dollar. The dollar’s share of total reserves appears to be slowly …
China: The Strategic Moves, Trade and Sanctions It Prepares for Currency War Against the Dollar
Financial security has become an integral part of China’s national security strategy since the Asian financial crisis of 1997 – when the so-called Asian Tigers collapsed. Rising geopolitical tensions with the US and the West in general since 2018 and Western economic sanctions against Russia have further prompted Chinese policymakers to strengthen the economy’s financial …
China cancels US tariffs by devaluing the yuan
China is actively promoting its plan for de-dollarization, promoting the yuan as the dominant currency in world trade, effectively challenging the long-standing dominance of the US dollar. China is trying to promote the yuan as a medium of international trade, implementing the basic principle of de-dollarization – reducing dependence on the dollar. China once relied …
How will the BRICS common currency affect the USD?
The BRICS alliance has aimed to dethrone the US dollar from the international market and make local currencies dominate. Developing countries are steadily and organizedly seeking to break ties with the US dollar and strengthen their domestic economies by putting their local currencies forward. In this light and from the US side, the change in …
Gold: Russia’s Strategic Monetary Superweapon
In history, gold and silver accompanied the rule of different empires. They made possible the financing of conquests, but also the very rule of the conqueror in the vassal regions of the planet. If even today, gold coins, even legal tender, no longer accompany states’ ambitions for geopolitical sovereignty, we see that central banks’ gold …