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 …
Tag: dollar
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 …
The real picture of the US economy is bleak
The global financial system is gradually preparing for an earthquake of historic proportions which this time will not be caused by an internal crisis – like in 2008/2009 – but its cause is related to the significant shifts in the geopolitical power balances with the end of globalization under American hegemony. This is not something …
Digital Platform for BRICS Trade Transactions – Non-IMF Yuan Loan Agreements
American economic hegemony rested on the dominance of the dollar within the system of international trade (mainly important commodities) and as a global reserve within the framework of the famous Bretton Woods agreement after 1944. This hegemony was combined with the formation of post-war international economic organizations such as the International Monetary Fund (IMF), the …
The state of the American economy creates problems for the dollar
The dollar’s dominance as a reserve currency is not immediately in question – while the most formidable threat to its status as the world’s leading reserve currency is actually the US economy itself. The dollar is the most widely used currency in the world both in trade and in central bank reserves — and will …
$45 trillion investment storm in the Global South from the BRICS
BRICS member states have reached a combined investment potential of $45 trillion – shifting the balance of power in the global economy by bringing the Global South to the fore. After the official enlargement of the bloc at the beginning of 2024, the alliance acquires the guarantees to become an economic superpower directly threatening the …
Russia’s economy suffered $211 billion in war with Ukraine, but hold on
Russia in the context of the military operation in Ukraine seems to be winning a no less relentless economic war. The unprecedented waves of sanctions were aimed at crippling Russia’s economy and eroding its military capability by shutting it out of the international banking and banking system (SWIFT). Russia, for its part, used this attack …
FED reopens liquidity floodgates with new QE in April 2024 – creates problem for dollar
On December 13, the financial world was stunned when, just two weeks after Jerome Powell said it was “premature” to make assumptions about interest rate cuts, the Federal Reserve made a shocking U-turn, heralding the end of monetary tightening – even though inflation is at levels twice the 2% target. The Federal Reserve’s 180-degree U-turn …
Strategic move on the chessboard of Geopolitical competition, the purchases of gold by the Central Banks
Central banks around the world are hoarding gold at a record pace, signaling a transformation of historic proportions in the global financial system. This “gold rush” is not just about a defensive strategy to preserve the value of assets from the “storms” of the global economy – it is a strategic move on the grand …
The number of countries replacing the dollar in their international transactions is increasing rapidly
De-dollarization is a historical process that seeks to end US hegemony in global trade and financial transactions by shifting to alternative methods of transactions, such as national currencies and regional payment systems. 1/3 of UN member states have already opted for de-dollarization and decided to rely on national currencies to make payments. Representatives of at …