Russia

De-Dollarization Will Be a Vicious Cycle as Hyperinflation Leads to Higher Rates That Will Further Erode the Greenback’s Power, Think Tank Says

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De-dollarization could lead to a vicious cycle of economic destruction, according to an Australian economic think tank. That’s because waning use of the dollar could bring on hyperinflation, researcher Michael Roach said. Hyperinflation could lead to higher interest rates, which will weigh on asset prices, according to Roach. This outlook is furthered by speculation that […]

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The Dollar Failure: Challenges of a Shifting Global Reserve Currency

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The BRICS bloc of countries are working on the creation of a new gold-backed currency that could potentially shift the global economic landscape.  They seek to establish a currency partially backed by gold, challenging the US dollar’s dominance. How long this takes remains uncertain, the implications for savers and retirees in the US could be

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Federal Reserve’s ‘FedNow’ Launch Triggers Fresh Speculation Over Digital Dollar

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But experts say the new system could lay the groundwork for the infrastructure needed for a potential central bank digital currency (CBDC) in the U.S. “This is a payment system, not a digital token or a CBDC, but it is something that can be used to facilitate the creation of a CBDC,” said Jim Bianco,

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Russia’s Revolt Has Made the Fed’s Inflation Fight Even Harder. Here’s Why.

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Markets appeared to shrug off the dramatic events in Russia over the weekend… Putin is still in office and in control of the military as he continues his assault on Ukraine. But his grip now looks shaky… bad things can happen amid disorderly change. Imagine what would happen to the price of crude if disruptions were

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De-Dollarization Means Gold is Underrated and Has a ‘Long Way to Run,’ Says Bridgewater’s Co-CIO

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Gold is underrated and could be pushed up by de-dollarization, Bridgewater’s Co-CIO said. Western sanctions on Russia that froze its foreign currency reserves highlighted the risks in using dollars. And since Russia’s invasion of Ukraine, more countries have turned to China’s yuan or other non-dollar currencies for trade deals. “This geopolitical turmoil is not going

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De-Dollarization Train is Moving at Full Speed and Gold is the First to React

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The U.S. dollar’s dominance is being challenged on several fronts simultaneously — from countries choosing to conduct trade in local currencies to BRICS developing its own currency. And gold is paying attention. This was topped by Russia’s State Duma Deputy Chairman Alexander Babakov confirming that BRICS — Brazil, Russia, India, China, and South Africa —

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China is Beating the US in the Trade War as the Yuan Makes International Gains, Bridgewater’s Ray Dalio Says

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Ray Dalio said China is winning the trade war with the US as the yuan makes gains internationally. The Bridgewater Associates CIO mentor also warned the US is on the “brink” of conflict with China. But Dalio added that the biggest threat to the US remains domestic. China is pulling ahead in the trade war

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Dollar Dominance Under Threat: 5 New Challenges to the Greenback’s Reign

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The Dollar’s Dominance of Global Trade and Reserves is Facing Several New Threats Getty Images The dollar’s supremacy in global trade faces fresh challenges as several countries float plans to use local currencies in commerce. Russia and Iran are working to create a gold-backed stablecoin, while China is increasingly using the yuan in its oil trades.

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Dollar Dominance: Russia, Iran Eye Gold-Backed Stablecoin for Foreign Trade

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Russia and Iran are working together to launch a cryptocurrency backed by gold, Vedmosti reported. The stablecoin could replace the US dollar for payments if Russia legalizes crypto in crossborder trade. A “de-dollarization” trend has already begun as the greenback’s dominance makes purchases more expensive. Russia and Iran are working together to launch a cryptocurrency backed

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By Pegging Gold to the Ruble, Russia Has Just Wiped Out the Dollar’s Clout from the World Markets

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Russian puts the ruble on the gold standard. This move to encourage domestic gold inflows to the Russian Central Bank. How Russia has weaponized its gas trade with Europe to strengthen its currency? Russia to declare the ruble as a substitute for Gold. Trump said that Putin is a really smart leader. Well, he said

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