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CATEGORY: dollar reserve currency


Apr 30, 2023 05:50

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

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 [...]

The post US Senator Rand Paul Warns of US Dollar Losing Reserve Currency Status — Says ‘It’s Not an Unfounded Prediction’ appeared first on Crypto Breaking News.

Jun 28, 2023 05:50

IMF Director: Iranians, Brazilians, Saudis Switching to Trade in Chinese Yuan as De-Dollarization Gains Momentum

The International Monetary Fund’s (IMF) executive director for Russia says a growing number of countries are switching to trade in Chinese yuan, not only with China but also with third countries. He stressed that it is wrong for the U.S. dollar to be widely used globally given that the U.S. government uses the currency “for [...]

The post IMF Director: Iranians, Brazilians, Saudis Switching to Trade in Chinese Yuan as De-Dollarization Gains Momentum appeared first on Crypto Breaking News.

Apr 26, 2023 05:50

Hillary Clinton Warns of ‘Worldwide Financial Meltdown’ and Dollar Losing Reserve Currency Status if US Defaults on Its Debt

Former U.S. Secretary of State Hillary Clinton has warned that the U.S. defaulting on its debt obligations could lead to a global financial meltdown. “If Congress keeps flirting with default, calls for dethroning the dollar as the world’s reserve currency will grow much louder,” she stressed. Hillary Clinton on U.S. Debt Default and Dollar Losing [...]

The post Hillary Clinton Warns of ‘Worldwide Financial Meltdown’ and Dollar Losing Reserve Currency Status if US Defaults on Its Debt appeared first on Crypto Breaking News.

Jun 25, 2023 05:50

US Treasury Secretary Defends Dollar Dominance as Emerging Markets Push to De-Dollarize

U.S. Treasury Secretary Janet Yellen has defended the dominance of the U.S. dollar amid rising efforts by emerging countries to de-dollarize. Brazilian President Luiz Inácio Lula da Silva, in particular, is set to raise the issue of de-dollarization at the next BRICS meeting. “There is a very good reason why the dollar is used widely [...]

The post US Treasury Secretary Defends Dollar Dominance as Emerging Markets Push to De-Dollarize appeared first on Crypto Breaking News.

May 26, 2023 05:50

IMF Foresees No ‘Rapid Shift’ in US Dollar Reserves Despite Rising De-Dollarization Trend

The International Monetary Fund (IMF) does not expect a “rapid shift” in the U.S. dollar reserves despite a rising de-dollarization trend and a looming U.S. debt default. “Don’t kiss your dollars goodbye just yet,” said IMF Managing Director Kristalina Georgieva. The IMF chief does not expect the U.S. to default on its debt obligations. US [...]

The post IMF Foresees No ‘Rapid Shift’ in US Dollar Reserves Despite Rising De-Dollarization Trend appeared first on Crypto Breaking News.

Jun 24, 2023 05:50

Economist Peter Schiff Slams Fed Chair Over Economic Concerns — Claims Powell Overlooks ‘Far More Relevant’ Factors

Economist Peter Schiff has slammed Federal Reserve Chairman Jerome Powell over several key issues concerning the U.S. economy, the banking system, and the U.S. dollar. “Powell is a coward. He is not doing his job,” Schiff claimed, highlighting multiple factors affecting the economy that the Fed chairman overlooked in his statements before Congress this week. [...]

The post Economist Peter Schiff Slams Fed Chair Over Economic Concerns — Claims Powell Overlooks ‘Far More Relevant’ Factors appeared first on Crypto Breaking News.

May 23, 2023 05:50

Nobel Prize Laureate Paul Krugman Warns of Disruption in Financial Markets Without US Dollar

Nobel Prize-winning economist Paul Krugman says that no currency can play the role of the U.S. dollar. Commenting on the de-dollarization trend and the possible U.S. default, he emphasized that without the USD, “financial markets will be disrupted by the lack of any safe, liquid asset.” Economist Paul Krugman on De-Dollarization and USD Alternatives Paul [...]

The post Nobel Prize Laureate Paul Krugman Warns of Disruption in Financial Markets Without US Dollar appeared first on Crypto Breaking News.

Apr 23, 2023 05:55

Economist Peter Schiff Warns ‘Death Blow’ Coming for US Dollar — USD to Lose Reserve Currency Status

Economist Peter Schiff has warned that a death blow is coming for the U.S. dollar and the USD will lose its global reserve currency status in this financial crisis. “People are still reluctant to call it a financial crisis, but that’s exactly what it is, except it’s bigger in scale and it’s going to be [...]

The post Economist Peter Schiff Warns ‘Death Blow’ Coming for US Dollar — USD to Lose Reserve Currency Status appeared first on Crypto Breaking News.

Apr 22, 2023 05:50

White House Economist Warns China Wants to Weaken US Dollar’s Reserve Currency Status — Senator Says Biggest Threat Comes From Within

In a congressional hearing, White House economist Jared Bernstein says there’s “some evidence” that China wants the U.S. dollar to lose its status as the world’s reserve currency. However, U.S. Senator Bill Hagerty stressed that the biggest threat to the USD dominance comes from within. China Wants to See U.S. Dollar Losing World’s Reserve Currency [...]

The post White House Economist Warns China Wants to Weaken US Dollar’s Reserve Currency Status — Senator Says Biggest Threat Comes From Within appeared first on Crypto Breaking News.

Feb 13, 2024 05:50

Crypto Community Fires Back at Hillary Clintons Criticism of Bitcoin Undermining US Dollar as Reserve Currency

The crypto industry has responded to criticism from Hillary Clinton, who said that cryptocurrency can undermine the role of the U.S. dollar as the world’s reserve currency. Galaxy Digital CEO Mike Novogratz argued that the only thing that can undermine the U.S. dollar as a reserve currency is reckless spending by both U.S. political parties. [...]

The post Crypto Community Fires Back at Hillary Clintons Criticism of Bitcoin Undermining US Dollar as Reserve Currency appeared first on Crypto Breaking News.

Jun 19, 2023 05:50

JPMorgan Expects Dollar Dominance to Persist Even if China Overtakes US as World’s Largest Economy

JPMorgan’s strategists have explained that even if China overtakes the U.S. as the world’s largest economy around 2030, the U.S. dollar may remain the world’s dominant currency for the rest of the 21st century. The global investment bank cited the historical experience of when the U.S. overtook Great Britain as the world’s largest economy. JPMorgan [...]

The post JPMorgan Expects Dollar Dominance to Persist Even if China Overtakes US as World’s Largest Economy appeared first on Crypto Breaking News.

Apr 19, 2023 05:50

Strategists: US Dollar’s Reserve Currency Status Eroding at ‘Alarming Pace’

Asset management firm Eurizon SLJ’s strategists have warned that the erosion of the U.S. dollar’s global reserve currency status has accelerated at an alarming pace in recent years, especially following the onset of the Russia-Ukraine war. They noted that the USD has declined 8% in one year, which is “equivalent to 10 times the average [...]

The post Strategists: US Dollar’s Reserve Currency Status Eroding at ‘Alarming Pace’ appeared first on Crypto Breaking News.

Jul 11, 2023 05:50

Central Banks Reduce US Dollar Holdings, Plan to Increase Chinese Yuan Exposure, Study Shows

A study by a $1.5 trillion asset management firm has revealed that central banks are reducing their U.S. dollar holdings while seeking to increase Chinese yuan holdings. “Central banks are diversifying currency holdings, stirred by geopolitical uncertainties and attractive opportunities in emerging markets,” the study shows. ’Central Banks Are Diversifying Currency Holdings’ Invesco, an asset [...]

The post Central Banks Reduce US Dollar Holdings, Plan to Increase Chinese Yuan Exposure, Study Shows appeared first on Crypto Breaking News.

Jun 11, 2023 10:35

Economist Jim Rickards Predicts Unveiling of New BRICS Currency — Says ‘the World Is Unprepared for This Geopolitical Shock Wave’

Jim Rickards, an economist and the author of “Currency Wars,” has predicted the unveiling of a new BRICS currency, stating that it “could weaken the role of the dollar in global payments and ultimately displace the U.S. dollar as the leading payment currency and reserve currency.” Emphasizing that “The process by which this will happen [...]

The post Economist Jim Rickards Predicts Unveiling of New BRICS Currency — Says ‘the World Is Unprepared for This Geopolitical Shock Wave’ appeared first on Crypto Breaking News.

May 09, 2023 05:50

Bank of America: Threats to US Dollar’s Dominance Largely Domestic — Not BRICS Currency or Chinese Yuan

Bank of America has warned that the key threats to the U.S. dollar’s dominance are largely domestic, as opposed to competition from other currencies, including a BRICS currency. “U.S. fiscal brinkmanship, with risks for government shutdown, or even worse a default, keeps coming up during debt ceiling discussions,” the bank’s analysts stressed. Bank of America [...]

The post Bank of America: Threats to US Dollar’s Dominance Largely Domestic — Not BRICS Currency or Chinese Yuan appeared first on Crypto Breaking News.

May 10, 2023 06:10

Dave Ramsey Dismisses De-Dollarization Concerns — Says BRICS Currency, Chinese Yuan Can’t Take Down US Dollar

Personal finance expert and best-selling author Dave Ramsey has dismissed de-dollarization concerns and the prospects of a BRICS currency, the Chinese yuan, or the Russian ruble displacing the U.S. dollar in international trade. “They don’t have the muscle to take down the dollar,” he stressed. Dave Ramsey on De-Dollarization and Challenges From Alternative Currencies Personal [...]

The post Dave Ramsey Dismisses De-Dollarization Concerns — Says BRICS Currency, Chinese Yuan Can’t Take Down US Dollar appeared first on Crypto Breaking News.

Apr 09, 2023 10:35

Economist Jim Rickards Says US Dollar’s Greatest Enemy as Reserve Currency Is the Treasury

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 deal,” emphasizing: “The dollar is [...]

The post Economist Jim Rickards Says US Dollar’s Greatest Enemy as Reserve Currency Is the Treasury appeared first on Crypto Breaking News.

Apr 09, 2023 05:55

Economist Peter Schiff Advises ‘Get Rid of Your US Dollars Now’ — Warns USD’s Reserve Currency Status in Jeopardy

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 depends on it. The best [...]

The post Economist Peter Schiff Advises ‘Get Rid of Your US Dollars Now’ — Warns USD’s Reserve Currency Status in Jeopardy appeared first on Crypto Breaking News.

Aug 06, 2023 05:50

Asian Economies Could Benefit From Reduced Dollar Influence, Says Devere CEO

The CEO of asset management firm Devere Group says the world is shifting “away from a dollar-dominated financial system.” Emphasizing that a shift away from U.S. dollar influence “could have positive implications for Asian economies,” he described: “With the dollar losing its stranglehold, Asian economies would also likely experience a diversification of reserve currencies, paving [...]

The post Asian Economies Could Benefit From Reduced Dollar Influence, Says Devere CEO appeared first on Crypto Breaking News.

Jun 07, 2023 05:50

Chinese Yuan, Euro, Digital Currencies Challenge US Dollar Dominance, TD Economist Says

A senior economist at financial services firm TD says the Chinese yuan, the euro, and digital currencies could erode the U.S. dollar’s dominance. “Several countries have shown frustration with the dominance of the dollar and are pursuing alternatives for conducting international trade and cross-border banking,” he said. Long-Term Trend Is Away From US Dollar, Says [...]

The post Chinese Yuan, Euro, Digital Currencies Challenge US Dollar Dominance, TD Economist Says appeared first on Crypto Breaking News.

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