De-Dollarization

Auto Added by WPeMatico

Dimon Doubles Down on Bitcoin Dislike, SBF to Aid Legal Action Against Celebrities, and More — Week in Review

by

JPMorgan Chase CEO Jamie Dimon has reiterated his critical stance on bitcoin, labeling it a fraud and dismissing its potential as a legitimate currency. Former FTX CEO Sam Bankman-Fried has agreed to a settlement that involves cooperating with legal actions against celebrities linked to FTX’s collapse. U.S. analysts are evaluating the impact of the proposed … Read more

US Dollar’s Importance Declining in International Transactions and as Reserve Currency, Economist Says

by

A Canadian economist and professor at the University of British Columbia says the role of the U.S. dollar in international trade and as a reserve currency has been declining. “Other currencies have been getting more important in international transactions and as reserve currencies,” he stressed. Economist Highlights Rising De-Dollarization Trend Canadian economist James Brander shared … Read more

Musk on ‘Massive Incentive’ to Get Money Out of Banks, Dave Ramsey Dismisses De-Dollarization Fears, BTC Network Congestion Eases, and More — Week in Review

by

Twitter CEO Elon Musk has shared what he calls a “massive incentive” to get money out of bank accounts, noting “bank depositor flight will accelerate to extreme levels, even for banks that are ‘too big to fail.’” Personal finance coach and author Dave Ramsey, for his part, thinks that de-dollarization fears are overblown. In crypto … Read more

10 Southeast Asian Nations Challenge Dollar Dominance With Push for Local Currencies

by

The leaders of 10 Southeast Asian nations, members of the Association of Southeast Asian Nations (ASEAN), have agreed to “encourage the use of local currencies for economic and financial transactions.” The group comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. This move will help them reduce their reliance on the U.S. … Read more

Warren Buffett Sees ‘No Option’ Other Than US Dollar as Reserve Currency, but Warns Fed Can’t ‘Just Print Money Indefinitely’

by

Warren Buffett, CEO of Berkshire Hathaway and one of the most renowned investors in the market, stated that he saw no viable option to become the world’s reserve currency besides the U.S. dollar. However, he warned about the dangers that printing too much money could bring to the strength of the currency in the future. … Read more

Satoshi’s Last Emails: ‘Make It About the Open-Source Project,’ Economist Predicts ‘Catastrophic’ Fall in US Living Standard, FRC Shares Plummet, and More — Week in Review

by

Another week has passed in the world of crypto and finance, with the anniversary of Bitcoin creator Satoshi Nakamoto’s last known emails, predictions of massive declines in Americans’ standard of living, and important developments at the struggling First Republic Bank. All this and more just below, in the latest Bitcoin.com News Week in Review. The … Read more

US Senator Rand Paul Warns of US Dollar Losing Reserve Currency Status — Says ‘It’s Not an Unfounded Prediction’

by

U.S. Senator Rand Paul has warned that the U.S. dollar could lose its status as a global reserve currency. “For a variety of reasons, both foreign policy as well as fiscal irresponsibility, yes, the dollar is in a precarious position,” said the lawmaker. Senator Rand Paul on U.S. Dollar Losing Reserve Currency Status U.S. Senator … Read more

Russian Foreign Minister Sergey Lavrov States De-Dollarization ‘Can No Longer Be Stopped’

by

Russian Foreign Minister Sergey Lavrov has spoken on the current shift to national currencies and the de-dollarization international markets are currently experiencing. In a press conference after addressing the UN Security Council on April 25, Lavrov stated this shift could not be stopped, and that the future of traditional international institutions like the International Monetary … Read more