Here’s what the latest Bitcoin price correction reveals
The latest episode of The Market Report analyses the recent Bitcoin price correction to $26,000 and what it reveals about the current market structure.This post was originally published on this site
BRICS: History, objectives and an overview of the global alliance
Explore how the emerging economies of Brazil, Russia, India, China and South Africa cooperate in areas such as economics, development and global governance.This post was originally published on this site
BRICS to Strengthen Economic Cooperation — Sherpa Calls for Increased Trade in National Currencies
South Africa’s BRICS Sherpa says one of the priorities at the upcoming BRICS summit is “to strengthen economic cooperation.” He added: “We need a stable global financial architecture, a global financial arena. That is why we say that we need to trade in our own currencies.” He also believes that the recession forecasts by the […]
BRICS Nations Discuss Expansion Plan as Membership Interest Grows
The BRICS countries are developing guidelines in response to increasing demand from countries seeking to join, according to South Africa’s Foreign Affairs Minister Naledi Pandor. “BRICS is attracting a lot of interest from a number of countries, and our sherpas are working on the concept of how the group can respond to this interest,” she […]
US Dollar’s Importance Declining in International Transactions and as Reserve Currency, Economist Says
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 […]
Bangladesh and India to Trade in National Currencies Due to US Dollar Liquidity Issues
Bangladesh and India have decided to conduct trade settlements in their own currencies, bypassing the dominance of the U.S. dollar. According to sources from the Bangladesh Bank, the decision was made due to the issues of liquidity in foreign currency that Bangladesh faces, which are disrupting the flow of imports to the country. Bangladesh and […]
South African Minister Tells BRICS Nations Not to Rush Decision on Common Currency
The South African minister of international relations, Naledi Pandor, has urged Brazil, Russia, India, China and South Africa (BRICS) countries to be wary of making a hurried decision when they meet in August to discuss launching a common currency. Pandor said her country will “not shy away from discussions” that relate to her country’s national […]
Nigeria-China Currency Swap: Activist Lawyer Accuses IMF and World Bank of ‘Economic Sabotage’ to Promote US Dollar, Urges Nigeria to Join BRICS
Nigerian human rights activist and lawyer, Femi Falana, has accused the International Monetary Fund (IMF) and the World Bank (WB) of sabotaging the currency swap arrangement between China and Nigeria. Falana said the Nigerian central bank and the two global financial institutions are helping to perpetuate “the dominance of the United States dollar in Nigeria.” […]
President Raisi Calls on Central Bank of Iran to Ditch US Dollar in Trade, Shift to National Currencies
Iranian president Ebrahim Raisi has called on the Central Bank of Iran to lay the groundwork necessary to ditch the U.S. dollar for bilateral trade settlements and to make the switch to use the Iranian real whenever possible. The Central Bank of Iran has already started implementing this policy, proposing to pay bilateral trades using […]
Ron Paul States Federal Reserve’s ‘Decade of Near 0% Rates’ Caused Today’s Financial Crisis
Former House Representative Ron Paul has presented his stance when it comes to the financial crisis that the U.S. is currently facing. Paul stated that the continued application of quantitative easing (QE), a policy used to increase the money supply, and the decades of almost null interest rates, are what nurtured the current financial crisis […]