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BRICS Countries Deem US Dollar Less Important in Global Trade, Says Indian Expert

BRICS Countries Deem US Dollar Less Important in Global Trade, Says Indian ExpertThe vice chairman of the BRICS Chamber of Commerce and Industry, Sameep Shastri, has highlighted the economic bloc’s shift away from reliance on the U.S. dollar, opting instead to trade using their national currencies like the Russian ruble, Indian rupee, and Chinese yuan. He underscored the importance of economic self-reliance and the challenge to Western […]

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Former House Speaker Paul Ryan: Stablecoins Can Help Fight an Upcoming US Debt Crisis and China’s Growing Influence

Former House Speaker Paul Ryan: Stablecoins Can Help Fight an Upcoming US Debt Crisis and China’s Growing InfluencePaul Ryan, a former speaker of the House of Representatives, has assessed the possible role that stablecoins will play in fighting an upcoming U.S. debt crisis. According to Ryan, the demand derived from the increasing relevance of dollar-backed stablecoins, which use U.S. treasuries as backing, will help keep a healthy demand on U.S. debt and […]

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Former Bitmex CEO Arthur Hayes: A Weak Yen Solution Might Propel Bitcoin to $1 Million

Former Bitmex CEO Arthur Hayes: A Weak Yen Solution Might Propel Bitcoin to  MillionArthur Hayes, former CEO of Bitmex and current CIO of Maelstrom, has predicted the geopolitical and economic dynamics that will be taken to equilibrate the exchange rate between the U.S. dollar and the Japanese yen might propel bitcoin prices to $1 million. Hayes states that eventually, the U.S. will be forced to act by printing […]

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Morgan Stanley: US Dollar Has No Credible Challengers; Reserve Currency Status to Endure

Morgan Stanley: US Dollar Has No Credible Challengers; Reserve Currency Status to EndureThe U.S. dollar is likely to remain the world’s dominant reserve currency due to the absence of credible challengers. Morgan Stanley suggests that the Chinese yuan, often considered a potential rival to the U.S. dollar, currently falls short and is unlikely to dethrone the greenback. Reserve Managers to Grapple With U.S. Dollar According to the […]

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Arthur Hayes Says China Capital Flight Could Shake Up Macro Climate – Could It Affect Bitcoin?

Arthur Hayes Says China Capital Flight Could Shake Up Macro Climate – Could It Affect Bitcoin?

Possible capital flight from China is an important trend to watch, according to controversial BitMEX founder and crypto veteran Arthur Hayes. Google Finance data indicates the Chinese yuan (CNY) has fallen by more than 5% against the US dollar since the beginning of 2023. Hayes tells his 394,100 followers on the social media platform X […]

The post Arthur Hayes Says China Capital Flight Could Shake Up Macro Climate – Could It Affect Bitcoin? appeared first on The Daily Hodl.

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South African Minister Tells BRICS Nations Not to Rush Decision on Common Currency

South African Minister Tells BRICS Nations Not to Rush Decision on Common CurrencyThe South African minister of international relations, Naledi Pandor, has urged Brazil, Russia, India, China and South Africa (BRICS) countries to be wary of making a hurried decision when they meet in August to discuss launching a common currency. Pandor said her country will “not shy away from discussions” that relate to her country’s national […]

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President Raisi Calls on Central Bank of Iran to Ditch US Dollar in Trade, Shift to National Currencies

President Raisi Calls on Central Bank of Iran to Ditch US Dollar in Trade, Shift to National CurrenciesIranian president Ebrahim Raisi has called on the Central Bank of Iran to lay the groundwork necessary to ditch the U.S. dollar for bilateral trade settlements and to make the switch to use the Iranian real whenever possible. The Central Bank of Iran has already started implementing this policy, proposing to pay bilateral trades using […]

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Russia Projected to Start Purchasing Chinese Yuan for Its Foreign Reserves as Soon as May

Russia Projected to Start Purchasing Chinese Yuan for Its Foreign Reserves as Soon as MayRussia will start to purchase Chinese yuan for its international reserves as soon as this month, according to reports from Russian economists. While analysts state that the purchases will be small and symbolic in the beginning, these will supposedly demonstrate a turnaround in the economy of the country. Russia to Purchase Chinese Yuan for Reserves […]

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Syria Urges BRICS to Lead in Ditching Dollar, Talks Yuan Adoption With China

Syria Urges BRICS to Lead in Ditching Dollar, Talks Yuan Adoption With ChinaBRICS nations can lead efforts to abandon the U.S. dollar in international settlements, according to President Bashar Assad of Syria. At a meeting with China’s top diplomat for the region, the leader of the war-torn Middle Eastern country called for using the Chinese yuan for cross-border trade. Economic Clash With West Requires Discarding Dollar, BRICS […]

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Almost 50 Russian Banks Accept Yuan Deposits Amid Low Demand for Dollar Accounts

Almost 50 Russian Banks Accept Yuan Deposits Amid Low Demand for Dollar AccountsA growing number of banking institutions in Russia are offering customers the option to save in Chinese yuan. The trend coincides with declining demand for U.S. dollar and euro deposits amid currency restrictions that triggered a flight of funds to bank accounts abroad. Demand for Dollar, Euro Accounts Expected to Drop Further, Requests for Yuan […]

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