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Financial Analyst Peter St Onge States Saving the Dollar Is Easy: Return to the Gold Standard

Financial Analyst Peter St Onge States Saving the Dollar Is Easy: Return to the Gold StandardPeter St Onge, an economist and financial analyst, has explained his proposal to save the U.S. dollar from crumbling under the current central banking system. St Onge proposes returning to the gold standard, backing the total dollar issuance with gold at current prices and mandating the Treasury to repurchase it when it flows out. Economist […]

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$2.3 Billion in Dollar, Euro Bills Shipped to Russia Despite Ban

.3 Billion in Dollar, Euro Bills Shipped to Russia Despite BanDespite Western restrictions imposed after Russia invaded Ukraine, billions of dollars and euros in banknotes have flowed into the country. This suggests that Russia has found ways to circumvent these restrictions. Despite official efforts to reduce reliance on foreign currency, Russian citizens still prefer dollars and euros. Russia Successfully Skirts Western Sanctions Dollar and euro […]

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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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Zimbabwe to Unveil De-Dollarization Roadmap, Says Government Official

Zimbabwe to Unveil De-Dollarization Roadmap, Says Government OfficialThe Zimbabwean Cabinet has approved a de-dollarization roadmap outlining “modalities to operationalize the Zig currency as legal tender for use in the economy.” Zimbabwean officials have set early 2026 as the new deadline for making the Zig the country’s sole currency. The central bank is expected to strengthen the mandatory licensing requirements, which compel business […]

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Ethiopia Announces Launch of Forex Auction Sale Days After Birr Float

Ethiopia Announces Launch of Forex Auction Sale Days After Birr FloatThe National Bank of Ethiopia (NBE) said it will conduct a special foreign exchange auction on Aug. 7. The Ethiopian central bank envisions similar auctions in the coming weeks, depending on market conditions. The NBE said banks keen on participating must submit their bids on the date of the sale. According to the Ethiopian apex […]

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Crypto coalition calls for ‘clear rules of the road’ from Biden, Harris

Some of the CMIC members in support of the letter include Robinhood, BitGo, OKX, Gemini, Chainalysis, Elliptic, TRM, Kaiko and Matrixport.

A crypto coalition has added to calls for the current United States administration to implement a clearer digital asset regulatory framework, arguing it would result in “enormous economic and national security benefits” for the country.

In an Aug. 7 letter to President Joe Biden and Vice President Kamala Harris, the Crypto Market Integrity Coalition — a group of crypto firms — said outlining “clear rules of the road” would better protect US consumers from bad actors, promote the US dollar and secure America’s technological edge.

“Digital assets utilizing open, public blockchains present an important opportunity to further cement American values and norms into the global financial system,” CMIC added.

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Price analysis 8/5: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

Global equity markets witnessed a massive sell-off, pulling Bitcoin and several major cryptocurrencies to unexpected lows.

Bitcoin (BTC) fell below the psychological level of $50,000 on Aug. 5 as panic gripped traders following the crash in the Japanese stock market. Coinglass data shows $1.08 billion in liquidations in leveraged positions or collateral trades.

Will the correction deepen, or is it time for a relief rally to begin? That is a big question for traders. Popular analyst Rekt Capital said in a post on X that Bitcoin’s “downside deviation” could last for about two months.

Some analysts believe the correction could deepen further. FXPro senior market analyst Alex Kuptsikevich told Cointelegraph that Bitcoin’s selling could sink it to $42,000.

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Nigeria Acts to Stabilize Currency with Forex Auction

Nigeria Acts to Stabilize Currency with Forex AuctionThe Central Bank of Nigeria (CBN) will reintroduce a foreign exchange auction system as part of efforts to ease pressure on the local currency. The CBN has called on authorized dealer banks to share their respective lists of outstanding forex demand by end users. Auction System Aims to Mitigate Impact of Dollar Shortage on Exchange […]

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Ethiopia’s Birr Falls 30% After Currency Float; Forex Surrender Requirements Scrapped

Ethiopia’s Birr Falls 30% After Currency Float; Forex Surrender Requirements ScrappedEthiopia’s birr plunged 30% against the dollar after the central bank floated the currency as part of reforms aimed at correcting foreign exchange market distortions. The bank also eliminated foreign exchange surrender requirements and lifted restrictions on certain imports. In return, Ethiopia, which is seeking BRICS membership, is expected to receive a $10.7 billion loan […]

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Senator Cynthia Lummis Proposes the US Accumulates 1,000,000 Bitcoin Amid Record-Level National Debt

Senator Cynthia Lummis Proposes the US Accumulates 1,000,000 Bitcoin Amid Record-Level National Debt

A pro-crypto senator is proposing legislation for the US to stockpile 1 million Bitcoin (BTC) as the country’s national debt continues to rise. Speaking at the Bitcoin 2024 Conference, Republican Senator Cynthia Lummis of Wyoming announces that she will propose a bill to establish a BTC reserve as a means of securing the value of the […]

The post Senator Cynthia Lummis Proposes the US Accumulates 1,000,000 Bitcoin Amid Record-Level National Debt appeared first on The Daily Hodl.

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