Free Republic

Russian President Vladimir Putin insisted last August that a drop in the importance of the U.S. dollar was "irreversible"—but there appears to be no sign that the global economy is turning its back on the greenback. "The U.S. Dollar was used in 48% of international payment transactions last year, the highest level in more than a decade. But Brics...," it said next to the graph, which showed the euro making 23.2 percent of transactions and the Chinese yuan way behind at 3.47 percent. "BRICS countries would like their currencies to be used in world trade, but each has a major...

Part of the great devolution of American power is not just related to depletion of military stores and the lack of enlistments for the service, but also our economic power. The latest monetary threat is coming from both East and West and may be the coup de grâce for the U.S. dollar, which has long been the dominant global currency for international financial transactions.This initiative is a serious concern for American interests. The countries in the BRICS alliance have a combined population of 3.1 billion. That's about 40% of the world's population and 20% of the world gross domestic product...

Bangladesh could soon start trading with India using rupee instead of US dollar, trial for which has been done by Bangladesh Bank recently, reports UNB. The ministry of commerce has placed a written recommendation at the last cabinet meeting regarding the possibility and opportunity of using rupee instead of dollar. Currently Bangladesh exports goods to India worth around USD 2 billion. “The use of rupee will start with Bangladesh's $2 billion trade with India. Bangladesh Bank has almost finished all kinds of trials in this regard. Trading in rupee will be introduced in both countries only after bilateral decision on...