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Keyword: dollar

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  • China’s Digital Currency Threatens America’s Financial Dominance

    04/09/2021 8:57:44 AM PDT · by Kaslin · 15 replies
    The Federalist ^ | April 9, 2021 | Helen Raleigh
    The greatest threat the digital yuan poses to the United States is that it endangers the international financial system America has led since World War II.The greatest threat the digital yuan poses to the United States is that it endangers the international financial system America has led since World War II.Communist China became the first major economy to create a government-sanctioned digital currency — digital yuan. Such a move will significantly impact the great power competition between the United States and China and may reshape the dollar-dominated global financial structure forever.When Xi Jinping, the Chinese Communist Party General Secretary, talked...
  • Biden plans $3 trillion climate boondoggle…

    03/22/2021 1:53:06 PM PDT · by Beave Meister · 23 replies
    Citizen Free Press ^ | 3/22/2021 | Kane
    WASHINGTON (Reuters) – The White House said on Monday that a New York Times report that President Joe Biden will consider spending $3 trillion for infrastructure and other priorities was premature and did not reflect administration thinking. The Times reported that Biden advisers were preparing to recommend he spend as much as $3 trillion on boosting the economy, reducing carbon emissions and narrowing economic inequality, beginning with a giant infrastructure plan.
  • Behar: Rush Limbaugh Spewed Hatred, Prejudices, Lies ‘for the Almighty Dollar’

    02/18/2021 9:37:06 AM PST · by ChicagoConservative27 · 87 replies
    Breitbart ^ | 02/18/2021 | Pam Key
    Joy Behar told her co-host Thursday on ABC’s “The View” that late conservatives talker Rush Limbaugh was “not authentic” and spewed prejudices and lies only for “the almighty dollar.” Discussing Limbaugh’s legacy, Behar said, “It’s interesting. I worked with him. I’ve interviewed Ann Coulter many times. Jeanine Pirro was on ‘The View.’ Trump has been on ‘The View.’ These people, you know, these people, you know, have gone through some kind of metamorphosis of weirdness over the years. Jeanine Pirro used to come on the show. She was actually fun. Ann Coulter, I consider her a comedienne. I don’t even...
  • Market Weekly: Still Don’t Think Bitcoin is #Winning? You’re a Loser.

    02/15/2021 10:07:36 AM PST · by amorphous · 73 replies
    Gold Goats 'n Guns ^ | 14 February 2021 | Tom Luongo
    Bitcoin is winning. Period. In fact, it may have already won and the people arrayed against it, no matter how powerful, are finally beginning to realize this. This week saw a slew of major announcements which all point in this direction. Of course the big news was Elon Musk’s announcement of Tesla Corp. having a $1.5 billion position in bitcoin. But that news came on the heels of a lot of other news, like VISA saying it was ready to embrace bitcoin to help banks build crypto-payment and trading services. VISA-backed debit cards have been around for a while now,...
  • Crazy Days For Money

    02/13/2021 6:58:08 AM PST · by blam · 18 replies
    GoldMoney ^ | 2-13-2021 | Alasdair Macleod
    This article anticipates the end of the fiat currency regime and argues why its replacement can only be gold and silver, most likely in the form of fiat money turned into gold substitutes. It explains why the current fashion for cryptocurrencies, led by bitcoin, are unsuited as future mediums of exchange, and why unsuppressed bitcoin has responded more immediately to the current situation than gold. Furthermore, the US authorities are likely to suppress the bitcoin movement because it is a threat to the dollar and monetary policy. This article explains why growth in GDP represents growth in the quantity of...
  • Are we headed for an economic and dollar collapse? If so, how do I prepare?

    01/15/2021 10:20:17 AM PST · by SeekAndFind · 114 replies
    Christian Post ^ | 01/15/2021 | Chuck Bentley
    Dear Chuck, Is America heading towards an economic collapse? If so, how do I prepare? Worried Boomer Dear Worried Boomer, My view is we are headed towards another economic crisis with a low risk of an actual economic and/or currency collapse. In either scenario, there are ways to be prepared. Economic Crisis vs. Collapse An economic crisis is different from a collapse. America has worked through several in my lifetime: ‘70s stagflation, ‘81 recession, ‘89 savings and loan crisis, post-9/11 recession, ‘08 great financial crisis, and the 2020 coronavirus crisis we are in now. A collapse is brought on by...
  • China is killing the dollar: China could dump all US Treasury and agency bonds if relationship with America deteriorates further.

    09/19/2020 5:41:31 PM PDT · by SeekAndFind · 26 replies
    GoldMoney ^ | 09/17/2020 | Alasdair Macleod
    In the wake of the FedÂ’s promise of 23 March to print money without limit in order to rescue the covid-stricken US economy, China changed its policy of importing industrial materials to a more aggressive stance. In examining the rationale behind this move, this article concludes that while there are sound geopolitical reasons behind it the monetary effect will be to drive down the dollarÂ’s purchasing power, and that this is already happening. More recently, a veiled threat has emerged that China could dump all her US Treasury and agency bonds if the relationship with America deteriorates further. This appears...
  • China and Russia ditch dollar in move toward 'financial alliance'

    08/13/2020 6:33:31 AM PDT · by Cronos · 21 replies ^ | 6 Aug 2020 | Dimitri Simies
    Russia and China are partnering to reduce their dependence on the dollar -- a development some experts say could lead to a "financial alliance" between them. In the first quarter of 2020, the dollar's share of trade between Russia and China fell below 50% for the first time on record, according to recent data from Russia's Central Bank and Federal Customs Service. The greenback was used for only 46% of settlements between the two countries. At the same time, the euro made up an all-time high of 30%, while their national currencies accounted for 24%, also a new high. Russia...
  • China Fires a Digital Shot Off Of 'King Dollar's Bow; It’s high time for digital dollars, money that could be carried by consumers in digital wallets

    08/10/2020 7:37:04 AM PDT · by SeekAndFind · 49 replies
    RCM ^ | 08/10/2020 | Eric Grover
    China’s pilot of a digital yuan is a shot across the bow of King Dollar. Domestically it will displace anonymous physical cash and compete with China’s card-network monopoly China UnionPay, and its PayPal analogues Alipay and WeChat Pay. Abroad it will help it bypass the dollar-dominated global financial system, facilitating China’s Belt and Road Initiative, which is being used to ensnare vast swaths of the world in its economic dominion.Hopefully, it’s a wakeup call for U.S. policymakers. It’s high time for digital dollars, dollars that could be carried by consumers in digital wallets and used online and in-person at casinos,...
  • The Coming Economic Miracle

    08/06/2020 8:05:40 AM PDT · by RobaWho · 58 replies
    @RealCuriousDawg on Parler ^ | August 6, 2020 | CuriousDawg
    America, the Central Bank is dead. There is ZERO chance $30+ trillion in fiat debt will ever be repaid with more fiat dollars. We’re in technical default. And President Trump knows this. The Solution? US Treasury Notes issued by our US Treasury will soon replace the fraudulent, 98% devalued Federal Reserve debt contracts (dollars). America’s soon to be, newly issued, asset back currency and our revitalized “America First” economy will reverse Bretton Woods and the Federal Reserve‘s death grip will officially be removed from America‘s throat. Every new US Treasury note will equate to an inflated number of current fiat...
  • Gold Price Surges

    07/27/2020 4:49:26 AM PDT · by Enlightened1 · 76 replies
    Kitco ^ | 07/27/20
    Gold price is up $40 today.  This is the dollar depreciating as the price of gold surges.  
  • Digital Yuan: China’s Plan to Topple the U.S. Dollar

    06/23/2020 9:44:12 AM PDT · by T Ruth · 27 replies
    American Spectator ^ | June 23, 2020, 12:14 AM | John Jiang
    *** China has been conducting intensive research on a potential centralized digital currency since at least 2014. The Digital Currency Electronic Payment (DCEP) plan, popularly known as the digital renminbi or digital yuan, was announced by the People’s Bank of China (PBOC) in October 2019. In an op-ed published in the Global Times, a Communist Party mouthpiece, leading Chinese academic Huang Zhen declared that the digital yuan will “likely” become the “world’s first sovereign digital currency,” before spending the rest of the article attacking Facebook’s rival digital currency project, Libra (more on that later). While the PBOC has yet to...
  • The Great Reset: A Unique Twin Summit to Begin 2021

    06/06/2020 6:32:55 AM PDT · by Enlightened1 · 3 replies
    This is the Globalists from DAVOS are telling us they are going to reset the economy. Everything we see today was planned a long time ago. As almost everyone know the Globalists are intentionally wrecking the economy. Looks like they are throwing everything they can at President Trump and the U.S..  This is about replacing the dollar. What we see on TV was all planned. Now you know who did it to you.    
  • Is America headed for a post-apocalyptic currency collapse?

    06/05/2020 10:46:10 AM PDT · by Roman_War_Criminal · 38 replies
    fxstreet ^ | 6/3/2020 | Stefan Gleason
    Just when it seemed as though America may be turning the corner after months of lockdown… just when it seemed as though we were on a path to reopening and gradually returning to normalcy… just when the prospects of panic-induced social unrest seemed to be behind us… …America’s cities erupted into flames. Antifa and BLM-organized rioting, looting, violence, and mayhem have pushed cities across the country into pandemonium. Even if the insurrections are soon quelled – as President Donald Trump promised to do in a speech in front of the White House on Monday – the consequences won’t soon go...
  • Pakistan, China and Russia decide to conduct trade in local currencies skip dollars

    04/02/2020 7:02:49 AM PDT · by NImerc · 71 replies
    Business Recorder ^ | March 17, 2020 | Ali Ahmed
    The eight-member countries of the Shanghai Cooperation Organization (SCO), including China, Russia, and Pakistan, have made the principle decision to conduct bilateral trade and investment and issue bonds in local and national currencies instead of US dollars.
  • Hong Kong dollar peg: could America's democracy act spell the end of the city’s US dollar peg and reputation for financial stability?

    12/11/2019 7:29:05 PM PST · by SeekAndFind · 18 replies
    South China Morning Post ^ | 12/10/2019 | Amanda Lee and Karen Yeung
    US legislation that paves the way for diplomatic action and sanctions against Hong Kong could potentially threaten the city’s exchange rate peg and long-term status as a financial centre, analysts said. The Hong Kong Human Rights and Democracy Act, which was signed into law last month by US President Donald Trump, increases scrutiny of Hong Kong’s economic and political systems, and its passage comes during a time of unprecedented unrest in the city. Among other mandates, it allows the US State Department to suspend Hong Kong’s special trading status based on whether the city retains a sufficient level of autonomy...
  • Chinese Banks Running Out of Cash

    10/06/2019 6:33:03 PM PDT · by LS · 127 replies
    @FreeHKer ^ | 10/6/2019 | @FreeHKer "China banks are running out of cash in HKD and USD. Maximum withdrawal limit drop from USD1300 to USD38. A drop of 34 times. China financial doom day coming. @Jkylebass @GordonGChang @robert_spalding
  • Three Years On, China’s Yuan Still Can’t Touch the Dollar’s Reserve Currency Status

    10/02/2019 9:08:17 AM PDT · by SeekAndFind · 4 replies
    Fisher Investments ^ | 10/02/2019 | Fisher Investments Editorial Staff
    Three years ago today, the IMF added China’s yuan to the basket of currencies underpinning its Special Drawing Rights (SDR)—its proprietary reserve accounting unit and means of extending credit to countries in need. At the time, the IMF touted it as “an important milestone in the integration of the Chinese economy into the global financial system.” Many investors took a less benign view, seeing the IMF’s move as threatening to end the dollar’s status as the world’s leading reserve currency—sending interest rates spiking and rendering US debt unaffordable. That was always a false fear, in our view, as the...
  • The Coming Currency War: Digital Money vs. the Dollar

    09/24/2019 10:17:56 AM PDT · by Enlightened1 · 19 replies
    WSJ ^ | 09/22/19 | Dave Michaels and Paul Vigna
    The future of money might be a digital version of the cash that’s already in people’s wallets—potentially upending the currency system that the world has known for many decades. Such a future, of course, might be a disappointment to many libertarians and tech-savvy investors who are pinning their hopes (and in some cases their money) on private cryptocurrencies such as bitcoin. Instead, central bankers and governments—the entities that cryptocurrencies’ backers hoped to render obsolete—are increasingly warming to the idea of “digitizing” their own national currencies. That is, they would issue money that would exist only virtually, without a paper or...
  • Mark Carney calls for global monetary system to replace the dollar

    08/23/2019 6:29:40 PM PDT · by SaveFerris · 45 replies
    Yahoo (D-MSM) and Financial Times ^ | Chris Giles in London | [Financial Times]
    Mark Carney, the Bank of England governor, has said that the world’s reliance on the US dollar “won’t hold” and needs to be replaced by a new international monetary and financial system based on many more global currencies.