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Jim Rickards, an economist and the author of “Currency Wars,” says the U.S. Treasury is actually the biggest threat to the U.S. dollar’s status as a reserve currency. However, he cautioned that an increasing number of countries seeking alternatives to the dollar as a payment currency is also “a big
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The banking industry in the United States is still struggling after the collapse of three major banks. According to statistics, bank lending in the U.S. has dropped by close to $105 billion in the last two weeks of March, which is the largest decline on record. Additionally, Elon Musk, a
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Economist Peter Schiff has urged people to get rid of their U.S. dollars now as a growing number of countries have escalated their efforts to reduce their dependence on the U.S. and the USD. “The dollar’s reserve currency status is in jeopardy, as is the American standard of living that
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Rich Dad Poor Dad author Robert Kiyosaki has issued a warning about the potential demise of the U.S. dollar and the looming threat of hyperinflation. He has expressed concern that the USD may lose its value and “become toilet paper.” Further, the famous author is saddened by U.S. authorities bringing
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China’s relationship with Saudi Arabia is growing as the country’s Cabinet has agreed to join the Shanghai Cooperation Organization (SCO). The diplomatic move made by the kingdom began with a memorandum of understanding in September, and at the end of March, Saudi Arabia’s Cabinet approved the decision to become a
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Tucker Carlson, host of Fox News and the “Tucker Carlson Tonight” show, analyzed the situation surrounding de-dollarization movements that countries like China and Russia have promoted recently. Carlson stated that sanctions on Russia and the weaponization of the U.S. dollar are partly to blame for the developments. Tucker Carlson Believes Sanctions
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Former U.S. President Donald Trump has acknowledged the push that China is making to dethrone the dollar as a reserve currency. In a post published on Truth Social, Trump stated that if this comes to happen, it would be the biggest defeat in the history of the U.S. in the
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Roughly 26 days ago and in the following days, the U.S. witnessed two significant bank failures when Silicon Valley Bank and Signature Bank collapsed. After speaking at an event on Monday at Yale University, Janet Yellen, the current U.S. Treasury secretary, told reporters that she was closely monitoring the banking
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Egon von Greyerz, market analyst and founder of Matterhorn Asset Management, is predicting the collapse of the central bank system in the next few years due to an increasing issuance of currency and debt. Von Greyerz states that in the face of an economy with no buyers, the only hedge
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Fabio Panetta, a member of the executive board of the European Central Bank (ECB), has stated that companies increasing their profit margins could be helping to fuel inflation. In an interview with the New York Times, Panetta warned about the effect that companies increasing such margins could have on inflation
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