Russia and Iran Switch From SWIFT
Iran and Russia have officially switched from the West’s SWIFT financial clearing system to a direct interbank transfer mechanism, the deputy head of the Central Bank of Iran (CBI) has…
Dollar
Dollar’s Share In World Reserves Nosedives, Says IMF
Latest data released by the International Monetary Fund (IMF) show: The U.S. dollar’s share of global central bank reserves has continued to decrease, nosediving to 59.2% in the third quarter…
Russia And China No Longer Using Dollar In Trade, Claims Russian PM Mishustin
Western currencies have almost been completely phased out in Russia-China trade, as nearly all payments between the countries are now carried out in rubles and yuan, according to Russian Prime…
The Perilous Path From Western Domination to De-Dollarization
Two interesting things happened at the BRICS summit in South Africa in August. Several new members were invited to join BRICS in 2024: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and…
Simple Comment: Fitch Downgrades US Debt Rating
On Tuesday, Fitch Ratings, one of the leading three US credit rating agencies, announced: US’ long-term foreign-currency issuer defaulting rating would be downgraded. Among other factors pushing this downgrading, Fitch…
Are We Living Through a De-Dollarization?
De-dollarization is apparently here, “like it or not,” as a May 2023 video by the Quincy Institute for Responsible Statecraft, a peace-oriented think tank based in Washington, D.C., states. Quincy is…
Venezuela Plans To Abandon U.S. Dollar To Free Economy From Sanctions
Venezuela is planning to shift away from the U.S. dollar in cross-border transactions, President Nicolas Maduro said earlier this week, claiming that the measure would help the Bolivarian Republic to…
De-dollarization, A National Security Concern To A World-Power
De-dollarization now looks inevitable and threatens to become a national security concern, according to International Crisis Group co-chair Frank Giustra. A Business Insider report -- “De-dollarization is no longer a…
Dollar’s Dominance Faces Threat, Says Former White House Economist
De-dollarization could become a reality as a BRICS alternative to the dollar could enjoy high prospects for success, said a former White House adviser. A report by Business Insider --…
U.S. Dollar Losing Reserve Status At Stunning Pace, Says Eurizon CEO
Western sanctions against Russia have accelerated the move away from the U.S. dollar worldwide, Stephen Jen, the CEO of London-based asset management company Eurizon, warned on Tuesday. The dollar’s share…
Financial Sanctions Could Undermine The Hegemony Of The Dollar, Admits U.S. Treasury Secretary
The role of the U.S. dollar as the world reserve currency may actually diminish due to the U.S. using its leverage on the global financial system to pursue its geopolitical…
Significant international currency reform taking place without major disruption is good for the world
If a big problem with the potential of causing major disruption gets resolved in a series of steps without causing major disruption, then this is good news for the world.…
Argentina And Brazil To Cut Reliance On U.S. Dollar And Create Common Currency
Citing officials, the Financial Times said on Sunday: Brazil and Argentina plan to create a common currency. According to the newspaper, this move could finally create the world's second-largest currency bloc with…
Can Russia and India replace American dollar in bilateral trade?
by Yevgeny Ivanov & Ashish Singh After the World War II, the role of the dollar has grown significantly in global trade. Since then, the American currency has been…
Saudi Arabia Is Ready To Discuss Ditching Dollar In Trade
According to a Bloomberg report, Saudi Arabia is ready to discuss trading in currencies other than the US dollar, according to Saudi Arabia’s finance minister Mohammed Al-Jadaan. Al-Jadaan's comments come…
The Dollar and Delusional Assumptions about Sanctions against Russia
Sanctions are a form of warfare, and few would deny that we have moved into a new era of economic warfare with sanctions, led by the US, have become the…
Rouble Gains, Euro Falls As Russia Cuts Gas Supplies To Bulgaria and Poland
The euro plummeted to a five-year low against the US dollar during Wednesday’s trading, amid heightened fears of a possible energy crisis and an economic slowdown in Europe. Media reports…
Israel Adds Yuan To Its Reserves And Cuts Dollar Holdings
Israel’s central bank has made the biggest changes to its allocation of reserves in over a decade, adding the Chinese yuan alongside three other currencies to a stockpile that last…
Special Status of US Dollar Should Not be Used to Harm People of Other Countries
In certain historical circumstances the US dollar received the status of world reserve currency at the end of the Second World War. It is a very privileged and special…
USA Must Avoid Misuse of Its ‘Exorbitant Privilege’ of Dollar Domination
A very important issue of international relations on which open and free discussion is often avoided relates to the extent to which maintenance of worldwide domination of US…
Towards a New Gold Standard? Or a Currency War with China?
Rumors have it that the remaining months of 2020 may bring drastic and explosive changes in the world’s financial system. But such “doomsday” rumors have been floating around every beginning…
The end of the US$ and the U.S. military
Train of thought To start with, here are some recent quotations that weigh heavily on the negative aspects of the US$ and its role as the global reserve currency, also…
U.S. dollar’s grip on global markets might be over, warns Goldman
Goldman Sachs has issued a bold warning Tuesday that the dollar is in danger of losing its status as the world’s reserve currency. Goldman Sachs Group Inc. has put a…
Explaining The Dollar: How It Became The Global Currency And What It Means For You
Most working people think of the buck as the way they pay their bills. But its use goes far beyond the USA’s borders. The greenback is the major…
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