The US dollar is soaring, surging high as the greenback resumed rallying soon after Trump was crowned as the 47th president of the United States. Trump has vowed to eliminate de-dollarization drives, promising to inflate the greenback against major currencies. His statement, however, may prove lucrative for the US. Still, it may cost other nations,…
The US dollar has reigned as the world’s most dominant currency for a staggering eight years now. The asset has played a vital role in global trade, investment, and reserves. The US dollar’s ascent and prominence come from its stability and trustworthiness as a medium for several economic activities. For instance, the US dollar accounts…
The president-elect of the United States, Donald Trump, has vowed to end de-dollarization. Trump has shared his grand plans on how he may impose tariffs on nations, making it harder for them to ditch the US dollar. At the same time, Trump may also streamline policies that may fuel the surge of greenback, which, in…
De-dollarization presents a serious threat to the U.S. economy. If the dollar loses its top currency status, the effects would be dramatic. The U.S. dollar reserve status weakening would make borrowing costs soar. Companies would struggle to get capital. U.S. business costs would rise sharply. The stock market could see a significant value drain. These…
The US Dollar has been dominating the space for a long time now. But this supremacy has been challenged by several nations across the globe. But what will countries employ if the dollar is diminished? This is where de-dollarization comes into play. A rising number of nations are attempting to lessen the influence of the…
The BRICS alliance was hellbent on kick-starting the de-dollarization agenda until the 16th summit in Russia’s Kazan region. Things have now taken a U-turn as the bloc members are slowly backtracking on the initiative. The US dollar was seen as the main villain of the global economy where local currencies were kept at its mercy….
Global financial markets face major shifts as 2024 progresses forward. De-dollarization efforts take center stage as China executes a significant $2 billion sovereign bond sale through Saudi Arabia. This strategic move tests US dollar strength and signals fundamental changes in international markets, marking a new chapter in global finance. Also Read: Luckiest Man on Earth:…
The US political arena is undergoing a transformative change. With Trump taking over the White House, the US anatomical structure is in the queue for a revamp, the kind that prioritizes the glorious American legacy above all. Trump’s recent comments about protecting American integrity by curbing the calls for de-dollarization are set to play a…
The era of de-dollarization is ending, with new analogies coming up, supporting the age of dollar dominance or “Re-Dollarization.” As contrary beliefs propagate how the US dollar has been weaponized, eroding its prestige globally, the factual dataset tells a different story. Amid the de-dollarization woes gnawing at the dollar, the factual data states how the…
Whether you like it or not, the de-dollarization agenda kick-started by the BRICS alliance is here to stay. There is no denying that the US dollar reigns supreme despite multiple global challenges, but how long can it fend off its adversaries? In the early 20th century, the United Kingdom had its colonies all across the…
The era of massive de-dollarization might finally be up for a halt as US elections have brought Donald Trump back into the US political domain. The 47th president of the United States had earlier made his stance known to the world by announcing an array of plans to protect the US dollar. His plans include…
The US dollar has dominated global banking as the primary reserve currency for a staggering 80 years. But now, the supremacy of the dollar was being challenged. BRICS, which stands for Brazil, Russia, India, China, and South Africa, has been actively working to change the global financial system and lessen its need for the US…
De-dollarization moves beyond funds, and also money as BRICS countries are pushing for economic de-westernization. French economist Jacques Sapir presented this economic shift at the latest BRICS meeting in Kazan. These changes affect the global finance in a few important ways. BRICS is now in control of 33% of world’s money, while G7 has 29%….
Russian officials warn of major changes ahead. De-dollarization grows stronger as Dmitry Medvedev and Sergey Lavrov raise alarms about US dollar stability. They point to risks in financial stability and changes in global trade. BRICS countries are now pushing for new payment systems. The threat of a US dollar collapse affects markets worldwide. Also Read:…
Several nations have been focusing on de-dollarization, or reducing the US Dollar’s dominance, over the past couple of years. The BRICS and ASEAN, in particular, have doubled down on efforts to disrupt the dollar. From exploring the possibility of introducing a new currency to pushing trade in local currencies, BRICS and ASEAN countries have taken…
Leading investment bank JP Morgan has analyzed the future of the US dollar amid the BRICS global de-dollarization frenzy. Developing countries are looking to strengthen their native economies by using local currencies for all trade and transactions. This is adding pressure on the USD as it could lose in the supply and demand mechanism in…
BRICS is spreading the de-dollarization initiative around the world, but the majority of countries are rejecting the idea by increasingly using the US dollar for trade settlements. While countries that are like-minded to BRICS are considering de-dollarization, the majority of nations don’t align with the initiative. Also Read: BRICS: U.S. Dollar Crisis Could Begin in…
Countries worldwide are moving away from the U.S. dollar. This de-dollarization comes as the U.S. economy struggles with serious internal problems. These issues now threaten the dollar’s global trade position more than any foreign competition. Former Federal Reserve and Treasury economists say America’s policies are the main risk to its currency’s power. Also Read: META…
Leading economic groups now challenge US dollar dominance by creating their payment networks. De-dollarization is being led by BRICS, ASEAN, the Shanghai Cooperation Organization (SCO), and the Commonwealth of Independent States (CIS) as they build comprehensive new systems for trading in local currencies. These groups work to reshape the global financial system through coordinated efforts…
The global calls for de-dollarization have found a new footing this year. Alliances like BRICS and ASEAN have left no stone unturned to promote local currency usage and, simultaneously, echo calls for de-dollarization to push the US dollar into a corner. The currency has had a rough time lately, with ballooning US debt numbers and…
The de-dollarization initiative is no longer confined to BRICS as other emerging economies are participating in the discussions at the 2024 summit. The outreach session will be conducted on the last day of the summit on October 24, 2024. Topics such as de-dollarization, new trade policies, and the usage of local currencies will take center…
Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency news from last week. In this edition, we examine the recent movements by Brazil to further push de-dollarization within BRICS and how this might affect the trading framework of the entire bloc. Latam Insights Encore: Brazil Called to Lead…
Former President Donald Trump on the ballot in November against Kamala Harris spoke about the BRICS de-dollarization agenda. Trump minced no words during the economic forum saying that countries that stop using the US dollar for trade will face severe consequences. Also Read: BRICS Settle 65% Trade in Local Currencies & Not the US Dollar…
While the BRICS alliance is strengthening its banking system, the US seems to be on a downhill. In the last three years alone, 15 US banks collapsed renewing fears of financial instability across the country. The BRICS bloc has pushed de-dollarization efforts especially since it expanded its numbers. Now, the pressure is mounting on the…
In a recent interview with Kitco News, Jp Cortez, the executive director of the Sound Money Defense League, discussed the growing sound money movement across the United States. Cortez emphasized the significance of legislative wins, such as the removal of sales taxes on precious metals in 45 states, and highlighted the increasing trend of de-dollarization….
A Nasdaq analyst has issued a warning concerning the BRICS alliance, saying the bloc could destabilize the US dollar into a crisis. The BRICS bloc has threatened the greenback’s place as the top fiat in the world for a few years, and the threat continues to grow. As the US dollar has suffered from a…
A U.S. license allowing transactions with key players in Russia’s financial system expires on Oct. 12. This could make it harder and more expensive for Russian businesses to trade with China in yuan. The yuan is currently the most traded foreign currency in Russia after Western sanctions and Russia’s de-dollarization efforts. Chinese banks are wary…
Former President Richard Nixon’s Treasury Secretary, John Connally once famously said, “The dollar is our currency, but it’s your problem.” The world was made to accept the dollar as the de facto currency and the US imported the tender around the globe. Things are taking a U-turn this decade as emerging economies kick-started the de-dollarization…
BRICS nations are considering adopting the petroyuan for oil trade as part of their ongoing dedollarization efforts, according to economic expert Herbert Poenisch. He noted the BRICS group may discuss alternatives to the petrodollar at their Kazan summit. He highlighted Saudi Arabia’s potential shift towards the petroyuan and Russia’s plans to reduce dollar reliance. However,…
The US dollar has become one of the most scrutinized currencies in the world. With elements like de-dollarization and movements propagating the US dollar dumping catching pace, it’s evident how the USD has now attracted diverse inimical foes. With alliances like BRICS and ASEAN pioneering a way to ditch the US dollar by promoting local…
The United States is slowly losing its hold as several countries have united to bring down the dollar. The BRICS bloc, consisting of Brazil, Russia, China, India, and South Africa, has been making strides with regard to de-dollarization. Thanks to China and Russia, over 90% of their bilateral commerce has been de-dollarized. Also Read: Top…
The United States dollar (USD) has been the world’s reserve currency for the longest time. Several governments have previously challenged the dollar. But the United States only grew stronger, forcing a number of nations to jointly roll out a currency to uphold de-dollarization. Amidst this, China has been keeping at it, as the Chinese yuan…
Leading investment bank JP Morgan has shared insights on de-dollarization and the major threat plaguing the US dollar. The US dollar is currently the dominant currency for trade and leads the charts in the forex markets. No country can survive without keeping the USD in its central bank reserves, as it boasts value and strength….
The number of countries wanting to join the BRICS alliance and support the de-dollarization agenda is rapidly growing in 2024. There’s a new country expressing interest in joining the bloc almost every two weeks in the last three months. The development indicates that the bloc’s de-dollarization initiative is lucrative and other countries want to free…
The de-dollarization drive is currently taking over the world. The greenback is now witnessing a surge in its enemies as new foes emerge to derail its value. The US dollar is currently at a precarious threshold, with ASEAN countries expediting efforts to topple it. These countries are working on their own currency system, one that…