Free Republic

The New Development Bank (NDB) established by the five-member BRICS group is offering loans in local currencies, part of its efforts to ditch the use of the U.S. dollar for world trade. NDB President Dilma Rousseff confirmed the move, adding that the financial institution plans to give 30 percent of loans in the local currencies of member nations. The NDB was established in 2014 by the BRICS group – Brazil, Russia, India, China and South Africa – to challenge the U.S.-dominated World Bank. Rousseff, who served as Brazil’s president from 2011 until her impeachment in 2016, took over the NDB’s...

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)...

I don't know too much about Jim Rickards, just found this to be an interesting video about the overall economy and some tidbits about what our government agencies are up to. The video is a 45 minutes long interview of sorts and discussion. Just posting in the event other are interested.

<p>I don't think Joseph Stiglitz has much direct influence these days with global financial leaders. Exhibit 1: He's not in Jackson Hole, Wyoming this week.</p> <p>Nevertheless, his comments must be monitored since he is likely to have followers among some financial insiders.</p>