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A University of Tehran professor and member of Iran’s Presidential Delegation to China has stressed the importance of de-dollarization for the international community. “The dollar has been used as a weapon by the U.S. against different countries. It is unreliable and it is dangerous,” the professor warned. Iranian Professor Stresses the
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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
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Prices of gold, and other precious metals, fell on Wednesday due to stronger U.S. yields and national currency. The decline comes on the backdrop of expectations of new interest rate increases next month amid persistent inflation in the United States and elsewhere. Gold and Silver Slip as Investors Bet on
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BTC dropped as low as $29,292 on Monday before slightly rebounding. The surge from $28,000 last week was “largely untested,” one analyst says. Source
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In traditional markets, the dollar index, which gauges the greenback's exchange rate against majors, rose to 101.80, extending Friday's 0.5% jump from 101.00. The yield on the two-year note gained nearly five basis points to 4.16%, extending the past week's 15 basis points rise. The yield on the 10-year note
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U.S. Treasury Secretary Janet Yellen talked about the dangers that sanctions based on the U.S. dollar might pose for the hegemony of the currency in international markets. According to Yellen, the government tries to use sanctions “judiciously,” as they can create a desire to find alternatives to the U.S. dollar. U.S.
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Russia’s foreign minister says a flight from the U.S. dollar “is sure to accelerate,” emphasizing that “this trend is irreversible.” The official added: “The path of sanctions is the path to nowhere. Serious countries and sober-minded politicians are drawing relevant conclusions and these conclusions are definitely in favor of terminating
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Jeffrey Tucker says we are at the turning point for the U.S. dollar, citing a growing de-dollarization trend. “The dollar’s just not going to be king,” he warned, adding that history will record recent events “as the turning point for the dollar.” Jeffrey Tucker on De-Dollarization, USD’s Turning Point Jeffrey Tucker, an
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Brazil and China have reached a milestone in their economic integration, as the first bilateral settlement in Chinese yuan was completed ahead of the visit of President Luis Inacio “Lula” da Silva to China. The settlement, which was processed by the Industrial and Commercial Bank of China (ICBC) paves the
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The Zipmex rescue deal was threatened after the investor backtracked on its earlier promise to repay creditors fully. Amid plans to rescue embattled crypto exchange Zipmex from insolvency, the investor has reportedly reneged on its promised 100% payment. According to reports, Zipmex’s rescue investor now seeks to pay only 10 to 20 cents
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