The US State Department is responding to reports that the group of economically-aligned nations known as BRICS is preparing for a major expansion. The group, which plans to launch a global currency to compete with the US dollar, has drawn interest from more than a dozen countries that want to join in. The list of potential […]
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Economist Paul Krugman says the US Treasury could easily print a $1 trillion coin to avert the debt ceiling crisis. In a new tweetstorm, Krugman says the coin would effectively help the US pay its bills, and the main drawback would be a negative perception of the move from fellow economists and the public at […]
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A top Russian lawmaker says world leaders have officially started working on an agreement to create a new global currency that does not utilize the US dollar. Chairman of the State Duma Committee on the Financial Market, Anatoly Aksakov, is outlining the efforts of BRICS to create an alternative currency that would circumvent USD. BRICS […]
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The BRICS bloc is now focused on expanding the use of the currencies of its members, according to the representative of one of them. The establishment of a single currency for the group is not an immediate task at this point in time, the diplomat indicated in an interview. Wider Use of National Fiats of […]
A total of 24 nations are now looking to build a strategic alliance that will challenge the US dollar’s decades-long role as the world’s reserve currency. The group of five economically-aligned countries collectively known as BRICS is reportedly on the cusp of a massive expansion. The core collective consists of Brazil, Russia, India, China and […]
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A China-led regional organization that covers more than half of Eurasia intends to transition to settlements in the currencies of its members. While the plan is to abandon the U.S. dollar in mutual payments, participating nations are yet to consider a common currency. Shanghai Cooperation Organization to Abandon Dollar in Favor of National Currencies The […]
The future of the US dollar and the American empire itself is now firmly in doubt, according to a financial analyst and former Goldman Sachs executive. Charles Nenner, who worked as head of market timing at Goldman for over a decade, says he’s reversing his long-held belief that the dollar will remain strong. In a […]
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A group of economically-aligned nations are purchasing massive amounts of gold as they prepare to end their reliance on the U.S. dollar. According to a new report from U.S. Global Investors, the nations known collectively as BRICS are piling into the precious metal and will continue to be “huge buyers” of gold for the foreseeable […]
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Fewer nations are willing to hold the U.S. dollar as America’s share in the global economy becomes smaller while China’s role in international trade expands, billionaire Ray Dalio noted. The founder of the world’s largest hedge fund also said that Western sanctions on Russia have highlighted new risks of keeping dollar assets. ‘Dollar Is Debt,’ […]
This year, there has been a flurry of news reports and opinion editorials discussing an alleged de-dollarization trend amid a wave of disclosures associated with the BRICS bloc. In a recent article, the American political scientist and author Ian Bremmer insisted that claims of the U.S. dollar dying are overblown. In addition to Bremmer’s comments, […]