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This addresses some of the questions I've had about the pros vs. cons of a reserve currency. (Source article has links)

Speaking today, US Treasury Secretary Janet Yellen said that there should be an expectation of a slow decline in the US dollar as a reserve currency. Moreover, the statements arrive amidst international de-dollarization efforts employed by a host of countries, including the BRICS economic bloc. Yellen had previously stated her expectation that the US dollar would remain unchallenged as the global reserve currency. However, it appears as though recent developments have shifted her stance on the matter. The global reserve currency status of the US dollar has been a constant headline over the past several months. Indeed, as international trade...

Economist Stephen Jen, a former Morgan Stanley managing director, expects a shift “from a unipolar reserve currency world to a multipolar world,” with the Chinese yuan, the euro, and the U.S. dollar forming a “tripolar” reserve currency configuration.‘A Multipolar World’Economist Stephen Jen, the CEO of asset management firm Eurizon SLJ, expects multiple currencies will chip away at the U.S. dollar’s dominance. Jen was formerly a managing director at Morgan Stanley in London and a senior economist at the International Monetary Fund (IMF).After stating that the U.S. dollar is losing its world’s reserve currency status at “an alarming pace,” the former...

The battle is on between the dollar and yuan as the world’s reserve currency. Or is there a battle at all?The dollar will remain the world’s top reserve currency—not the yuan any time at all—and for four good reasons to be spelled out in a while.A CNBC report early this year echoed a general sentiment that the greenback is ready for a fall as the top reserve currency by 2015. Meaning, countries will stop using our money to exchange goods, or conversely, we need to change our dollar to another currency to export or import goods.The country’s trillion-dollar debt, the...

If the Chinese yuan were to become the global reserve currency, it would, in essence, give the CCP the ability to cripple entire nations.In July 1944, 44 delegates from Allied countries came together during World War II in Bretton Wood, New Hampshire. The goal? Devise an international currency system to manage foreign exchange that would disadvantage no country and effectively facilitate post-war rebuilding and commerce. The outcome: The U.S. greenback would be the world’s reserve currency.It has been almost 80 years since, and all nations have been better off with a United States dollar-dominated world. World gross domestic product (GDP)...

Last week, Fox News aired a segment discussing the possibility that the US dollar will cease to be the global reserve currency and what that would mean for Americans. The tone of the piece suggested that a “catastrophic” decline of the US dollar was not only possible, but perhaps even imminent. CNN last week also aired its own segment suggesting the US will face “a reckoning like none before” if the “dollar’s dominance” in the global economy falls significantly.Much of the analysis was framed to stoke the public’s fears of Chinese geopolitical power, and the Fox segment was especially hyperbolic...

We should prepare to lose our position as holder of the world's reserve currency. That is happening in slow motion. It's unmistakable. Now, the Biden people seem to have no idea this is going on or maybe they want it to happen. Joe Biden was up there at the State of the Union bragging about how he took 30 points off the Russian ruble in a single day. Hurray. Good for us, but once we stop celebrating our win, the destruction of the Russian economy, they deserve it. You have got to wonder, is there a downside to this? Could...

Last week, Fox News aired a segment discussing the possibility that the US dollar will cease to be the global reserve currency and what that would mean for Americans. The tone of the piece suggested that a “catastrophic” decline of the US dollar was not only possible, but perhaps even imminent. CNN last week also aired its own segment suggesting the US will face “a reckoning like none before” if the “dollar’s dominance” in the global economy falls significantly. Much of the analysis was framed to stoke the public’s fears of Chinese geopolitical power, and the Fox segment was especially...

Nearly 50% of all global assets are now held in shadow banks, according to the IMF. These institutions, also called non-bank financial intermediaries (NBFIs), include pension funds, insurers, hedge funds, private equity funds, structured investment vehicles (SIVs), limited-purpose finance companies (LPFCs), and numerous other entities—each with their own acronym. Shadow banks are often the under-regulated middle men of the financial system, and they’re growing in number. For nearly a decade now, Federal Reserve officials have repeatedly warned about the hidden dangers present in these shadow banks. And it’s not just U.S. regulators that have expressed concern—from Ireland to China, the...

For nearly 80 years, since the end of the Second World War, the U.S. dollar has been the currency of the world. But what if that ended? U.S. dollar has been the currency of the world.But what if that ended?(video in the link below) https://twitter.com/TuckerCarlson/status/1643781248408494080

China's central bank said on Tuesday that it has signed a memorandum of understanding (MOU) on setting up yuan clearing arrangements in Brazil with the Central Bank of Brazil. The establishment of yuan clearing arrangements in Brazil will help Chinese and Brazilian firms and financial institutions with cross-border transactions using the yuan, further facilitating bilateral trade and investment, the People's Bank of China (PBC), the country's central bank, said in a concise statement on its website. The latest yuan clearing plan followed a slew of similar arrangements as the Chinese currency takes on a bigger role in the global foreign...

Let’s start with three interconnected multipolar-driven facts.First: One of the key take aways from the World Economic Forum annual shindig in Davos, Switzerland is when Saudi Finance Minister Mohammed al-Jadaan, on a panel on “Saudi Arabia’s Transformation,” made it clear that Riyadh “will consider trading in currencies other than the US dollar.” So is the petroyuan finally at hand? Possibly, but Al-Jadaan wisely opted for careful hedging: “We enjoy a very strategic relationship with China and we enjoy that same strategic relationship with other nations including the US and we want to develop that with Europe and other countries.” Second:...

Saudi Arabia is opening its economic doors about trading in currencies other than the US dollar, Finance Minister Mohammed Al-Jadaan sounded off at the World Economic Forum in Davos, Switzerland. “There are no issues with discussing how we settle our trade arrangements, whether it is in the US dollar, whether it is the euro, whether it is the Saudi riyal,” Al-Jadaan said in an interview with Bloomberg. “I don’t think we are waving away or ruling out any discussion that will help improve the trade around the world.” (snip) The term petrodollar refers to the US dollar’s position as the...

Profound, short video of how US Federal Reserve opponents were eliminated at source url. The “gift” that’s keeps on cursing our world, came straight from JP Morgan, through Woodrow Wilson’s December 24, 1913 signature on a piece of lame duck Congress legislation; the “birth certificate” that created the U.S. Federal Reserve. And here we stand today, exactly 109 years later. The lust of money, with all the nefarious power & control it can bring, lies at the root of all evil - wars, famines, slavery, genocide, communism, satanism, human trafficking, poverty, sickness, ignorance and separation from our true identity and...

The war on cash has just gone to an entirely new level. When I heard that the European Union was planning to completely ban all cash transactions above 10,000 euros, I had a hard time believing it. There are so many wild rumors flying around on the Internet these days, and so I wasn’t going to write about this unless I could confirm it. Unfortunately, this particular rumor is quite real. Under the pretext of fighting “money laundering and terrorist financing”, the European Union will be entirely outlawing all cash payments greater than 10,000 euros. The following comes from the...

Video at link.

There are times when I don’t know what to tell people about something in the news. No born-again Christian wants to be a false teacher, but lies, fake news, censorship, war, and unexpected events make it difficult to know what to believe. More than 30 years ago, I was teaching that the rider on the black horse in Rev. 6:5-6 represents food shortages, famine, and economic disaster. It wasn’t long until I decided that it was accurate to say that the rider on the black horse represents hyperinflation and a global economic collapse after the Rapture. I added “after the...

By a dusty stretch of the deafening road from Chennai to Bengaluru lie three colossal, anonymous buildings. Inside, away from the din of traffic, is a high-tech facility operated by Foxconn, a Taiwanese manufacturer. A short drive away Pegatron, another Taiwanese tech firm, has erected a vast new factory of its own. Salcomp, a Finnish gadget-maker, has set one up not far away. Farther west is a 500-acre campus run by Tata, an Indian conglomerate. What these closely guarded facilities have in common is their client: a demanding and secretive American firm known locally as “the fruit company”. The mushrooming...

Outbound shipments in October shrank 0.3% from a year earlier, a sharp turnaround from a 5.7% gain in September, official data showed on Monday, and well below analysts’ expectations for a 4.3% increase. It was the worst performance since May 2020. The data suggests demand remains frail overall, heaping more pressure on the country’s manufacturing sector and threatening any meaningful economic revival in the face of persistent COVID-19 curbs, protracted property weakness and global recession risks. Chinese exporters weren’t even able to capitalize on a further weakening in the yuan currency and the key year-end shopping season, underlining the broadening...

On October 7, 2022, US congressman Alex Mooney (a Republican from West Virginia) introduced a bill (the Gold Standard Restoration Act, H.R. 9157) that stipulates that the US dollar must be backed by physical gold owned by the US Treasury. The initiative clearly indicates that the increasingly inflationary US dollar is triggering efforts to get better money.It should be noted that there have already been many legislative changes to make precious metals more attractive as a means of payment in recent years: in many US states, the value-added and capital gains taxes on gold and silver, but also on platinum...