To save the euro, turn it into a digital stablecoin
Thomas Mayer former chief economist of Deutsche Bank proposes in FT that Europe create a bloackchain backed digital euro....
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DE-DOLLARIZATION:
THE REVOLT AGAINST THE DOLLAR AND THE RISE OF A NEW FINANCIAL WORLD ORDER
The dollar's status as the world's preeminent currency, together with the U.S. military, has underlain American power since World War II. In a sweeping review of one of the most seminal yet least noticed developments in international affairs, Gal Luft and Anne Korin describe how an emerging coalition of revisionist countries, rogue governments, techno-visionaries and sanctioned entities, buttressed by innovations like blockchain and 5G, are working to push the dollar off of its reserve currency throne. It would not be the first time. Preceding the dollar, five consecutive currencies, each belonging to a superpower of the time, ruled the markets. Each predominated for roughly 80-100 years, and as it tumbled to irrelevance it accelerated the decline of the empire behind it. Are we due for a rerun?
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Trump’s Embrace of Sanctions Irks Allies and Prompts Efforts to Evade Measures
Echoing our main argument in De-dollarization the New York Times argues that the US increasing reliance on economic sanctions to solve...
Russia Continues De-dollarization as Brussels Considers Creating Pan-EU Payment System
Russia is continuing its policy of abandoning the dollar and transferring its assets into other currencies. Last month, Russia reportedly...
China’s digital yuan will be the ‘weapon’ of de-dollarization
The digital yuan was revealed by the People’s Bank of China [PBoC] weeks after Facebook unveiled their global digital currency Libra, and...
Anne Korin on CNBC discussing De-dollarization
“Major movers” such as China, Russia and the European Union have a strong “motivation to de-dollarize,” said Korin. "You have a growing...
Reuters: Russia’s Largest Oil Company Ditches Dollar In New Oil Deals
As predicted in chapter 4 of De-dollarization Russia’s Rosneft has set the euro as the default currency for all its new export contracts...
U.S. dollar share of global currency reserves at lowest since 2013: IMF data
The U.S. dollar’s share of currency reserves reported to the International Monetary Fund fell in the second quarter to its lowest level...
House members alarmed by the prospects of the central bank creating a digital currency
Politico's Zachary Warmbrodt reports: "Reps. French Hill and Bill Foster are calling on Federal Reserve Chairman Jerome Powell to weigh...
De-Dollarization: Europe Joins the Party
What has been true for decades still applies. The US dollar continues to enjoy the confidence of markets, governments, and central banks....
Brookings: Has the dollar lost ground as the dominant international currency?
A new Brookings paper by Eswar Parasad argues that while the euro has stumbled, the renminbi has stalled, the dollar supremacy still...
Russia’s bid to ditch the US dollar is slowly working, but obstacles remain
In an effort to insulate the Russian economy from U.S. sanctions, the Kremlin has made “de-dollarization” a long-term priority, but will...
Economists: US dollar as top currency set to weaken
"The United States is now facing quite a revolt against its financial hegemony," said Gal Luft, De-dollarization co-author at the launch...
First Look: China's Central Bank Digital Currency (CBDC)
Following Facebook’s recent Libra whitepaper release, the Chinese central bank accelerated its plans to launch its own digital currency....
Stunning revelations from Lula on BRICS and the USD
In an exclusive interview from a prison room in Brazil, former Brazilian president Lula da Silva reveals: “BRICS was not created to be...
De-dollarization book is published.
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Haass: The “exorbitant privilege” that US has benefited from will not be permanent.
Richard Haas, President of the Council on Foreign Relations, has joined the choir of voices warning that "the “exorbitant privilege” that...
Governor of the Bank of England: The world’s reliance on the US dollar “won’t hold”
Mark Carney, the Governor of the Bank of England argued at the annual gathering of central bankers in Jackson Hole that a global...
De-dollarization push might skyrocket gold prices even higher
The latest countries to jump on the de-dollarization bandwagon are Serbia and the Philippines. Serbia is boosting its national gold...
Russia replaced its US treasury holdings with gold
Russia’s gold reserves rose to more than $100 billion thanks to rising gold prices and the country’s efforts to boost its bullion...
JP Morgan: "The dollar could lose its status as the world’s dominant currency"
JP Morgan's strategist Craig Cohen wrote in a report earlier this month alerting about the imminent decline of the $ as reserve currency....
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