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US President Donald Trump and Chinese leader Xi Jinping prepare to meet for the first time since 2019 to finalize the trade deal. The meeting is set up in Gyeongju, South Korea, after a fierce rivalry broke out between the two nations since Trump imposed tariffs. However, gold proponent Peter Schiff cautioned that even if the US-China trade deal goes forward, de-dollarization will never stop. Also Read: Trader Loses Life Savings After Going All-In on Beyond Meat Stock China Will Continue the De-Dollarization Process, Says Peter Schiff Source: Shelbi Austin / Pavel Brykin / Li Muzi / Sputnik / AFP / Xinhua / Getty Images Schiff warned that the US-China deal will do nothing to address the rising budget deficits, interest rate cuts, soaring inflation, and de-dollarization. The average American will gain nothing out of the deals as the economic situation worsens in the homeland. He stated that Trump is trying to solve a problem that would not have existed if he hadn’t started it in th...

Real de-dollarization initiatives have accelerated across various major financial sectors, and economist Brunello Rosa warns that this global currency shift represents a fundamental threat to USD dominance right now. The crypto market risks and economic uncertainty created by this movement signal that real de-dollarization efforts are spearheading serious momentum at the time of writing. Also Read: Gold Could Hit $4,000 as US Dollar Weakens, Experts Warn Crypto Risks Mount as USD Declines and Global Shifts Accelerate Source: Watcher.Guru Rosa’s Warning Signals Real De-Dollarization Momentum Through several key analytical frameworks, economist Brunello Rosa was finalizing his book “Smart Money” when he noted that critical events might unfold before publication, and his predictions about real de-dollarization have revolutionized accurate forecasting right now. The book envisions a new cold war where “digital de-dollarization” plays a central role as China cha...

The de-dollarization agenda is advancing as China’s central bank has asked lenders to raise their share of Chinese yuan while facilitating cross-border trade. The People’s Bank of China increased the floor ratio for Chinese yuan-denominated trade transactions from 25% to 40%. That’s a 15% increase in settling overseas trade and transactions in the recent realignment to benefit its local currency. Also Read: Russia’s New Economic Bank Fuels Global De-Dollarization Surge De-Dollarization: China to Punish Banks That Fail to Meet the 40% Chinese Yuan Criteria Source: iStock China is taking de-dollarization seriously and is cracking the whip on banks that fail to meet the 40% Chinese yuan criteria. The increase from 25% to 40% is dubbed the Macro Prudential Assessment and banks failing to meet the criteria will receive a lower score in regulatory review, said officials close to the matter to Bloomberg. Getting a low score would also affect the bank’s future business e...

The 46th ASEAN summit kicked off on Monday in Malaysia’s capital Kuala Lumpur and China and Indonesia signed a historic deal to settle payments in local currencies waving goodbye to the US dollar. The summit saw the alliance scrambling to safeguard their economies from Trump’s trade wars and tariffs. ASEAN countries saw more dependency on China and extended trade deals with the Communist country and not the US this time around. Also Read: Malaysia Says 10% US Tariff Floor Is Acceptable as Zero Becomes Unlikely At the ASEAN summit, China and Indonesia signed several major projects to deepen economic involvement and use local currencies for cross-border settlements. The development would boost both China and Indonesia’s GDP as the US dollar will not be involved in the transactions. The US dollar is being ignored by all major alliances as emerging economies are prioritizing local currencies for trade first. ASEAN Summit: China & Indonesia Sign Deals to Transact in Local C...

The phenomenon of de-dollarization is once again actively gaining momentum. The US dollar is declining rapidly, hammered heavily due to the recent US tariff ordeal that has ended up wounding the American currency. In the middle of this, calls to diversify away from the US dollar have also been heard, with nations and investors both looking forward to exploring capable USD alternatives. In the meantime, a group of ten Commonwealth of Independent States has decided to ditch the US dollar, moving away from the currency to uplift their economies and liberate them from the shackles of American hegemony. Also Read: Tanzania’s US Dollar Ban Set the Stage for Kenya & Other EAC Nations Why Is The World Moving Towards De-Dollarization? Source: Watcher Guru De-dollarization is not new. The phenomenon has long existed within the layers of the global economic structure and has now started to gain traction as US dollar hegemony continues to hurt nations. The US dollar is the world’s leading ass...

Brazil, which chairs the upcoming BRICS summit in 2025 confirmed that they plan on the formation of new payment systems. Under the leadership of Brazilian President Luiz Lula da Silva, the alliance will discuss alternative payment options to the US dollar. The BRICS Sherpas meeting will take the ideas forward and the upcoming 17th summit could see massive changes in the way the bloc operates and settles cross-border transactions. Also Read: When Is the BRICS Summit in 2025? Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. The move could lead to a paradigm shift in global trade and tilt the financial powers from the West to the East. Developing countries are looking to cut ties with the US dollar and strengthen their local currencies in the forex markets. The US dollar is in the crosshairs of a major shift that could pave the way for native currencies to take the driver’s seat of the financial markets. Also Read: BRICS: Goldman Sa...

The de-dollarization agenda is gaining steam as a total of 12 countries have mutually agreed to abandon the US dollar for trade. The dozen countries have taken to local currencies for cross-border transactions to end reliance on the US dollar. The development indicates that emerging economies want to strengthen their local currencies and give them a boost in the forex markets. The global hegemony of the USD is on a slippery slope and developing countries want to fill in the void. Also Read: De-Dollarization: Will Donald Trump Crush Anti-USD Movement? After the White House pressed sanctions on Russia in February 2022, the de-dollarization initiative was officially kick-started. Both Russia and China went on a world tour, convincing other countries to ditch the US dollar. The idea seemed lucrative as it provided a chance for local currencies to gain an upper hand in the markets. Also Read: Trump’s Treasury Pick Reveals $500K Bitcoin Stake via BlackRock ETF De-Dollarization Rising: 12 Cou...

BRICS member Russia is aggressively pushing the de-dollarization agenda by making developing countries settle trade in local currencies. Russian President Vladimir Putin is convincing emerging economies to ditch the US dollar and push local currencies for cross-border transactions. The move will strengthen their native economies and give their local currencies a boost in the forex markets. Also Read: BRICS: India Makes Huge Announcement on New Currency Read here to know how many sectors in the US will be affected if BRICS accepts local currencies for trade. Russia is successfully bypassing US sanctions and keeping its economy afloat by making other countries ditch the US dollar. The development is hurting the US more as emerging economies as seriously considering advancing the de-dollarization initiative. Also Read: The US Dollar’s Clout Is Decreasing Globally, Says BRICS BRICS: Russia & Belarus Settle Trade Worth $37 Billion in Local Currencies Source: Reuters In 2024 alone, BRICS...

With the leading cryptocurrency nearing a return to its all-time high, it could factor into the BRICS alliance, with one VanEck executive saying the bloc is likely to increase its Bitcoin adoption in the future. Specifically, the firm notes that the asset could be key in the collective’s growing global trade. The BRICS has just concluded its long-awaited 2024 Summit. There, they highlighted the need to continue its ongoing de-dollarization efforts but also assured it will not be creating new infrastructure to support such an endeavor. That could open the door for cryptos like Bitcoin, to become even more important in the near future. Source: AFP Also Read: BRICS: U.S. Dollar Crisis Could Begin in 2025 BRICS Turn to Bitcoin? Why One Executive Thinks It May Just Be a Matter of Time There were high hopes for Bitcoin entering the year. After being the first crypto to receive ETF approval in the United States in January, the leading asset reached an all-time high price of $73,000 just ...

With the landmark event just days away, the BRICS 2024 Summit is set to see the economic bloc take a major step toward ending US dollar dominance. Indeed, the collective will gather in Kazan, Russia for the event that could be one of its most important. Chief among the matters to be discussed by the bloc is its ongoing de-dollarization efforts. At the recent Business Forum that took place in Moscow, the bloc officially debuted the long-awaited BRICS Pay system. The alliance debuted a demo card for participants to utilize throughout the weekend. Those efforts will likely continue at the summit, with the bloc poised to make monumental announcements. Source: thediplomat.com Also Read: BRICS Pay: Alliance Officially Unveils New Payment System BRICS to Take Major De-Dollarization Step at 2024 Summit The BRICS Summit has become one of the most important days for the alliance. In 2023, it saw the bloc welcome its first expansion effort since 2023. Specifically, the United Arab Emirates (UAE),...