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De-dollarization
06/28/2024
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By Belle Carter
Russian economist unveils Putin’s masterplan as U.S. dominance ends
Russian President Vladimir Putin started long ago to steer Russia away from the global liberal order. One way he did this is by establishing the Eurasian Economic Union (EAEU) in 2014, which aims to create a new power center to rival the U.S. and Europe. Putin already concluded then that he needed to separate the Eurasian […]
06/28/2024
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By Kevin Hughes
EU hastens DE-DOLLARIZATION by stealing Russian money and giving it to Ukraine
The European Union will send 1.4 billion euros ($1.5 billion) from the frozen assets of the Central Bank of Russia to the European Peace Facility (EPF) to meet Ukraine’s military requirements – a move that will accelerate de-dollarization. Josep Borrell, EU high representative for foreign affairs and security policy, declared on June 24 that the […]
05/27/2024
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By Richard Brown
Alabama eliminates income taxes on capital gains from sale of gold and silver
Alabama Gov. Kay Ivey has signed a bill that eliminates income taxes on capital gains from the sale of gold and silver, marking a significant advancement in reinforcing sound money principles within the state. Senate Bill 297 allows Alabama to exempt capital gains taxes on the sale of gold and silver in a bid to prioritize […]
05/24/2024
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By Richard Brown
DOLLAR DEMISE: China selling U.S. Treasury bonds in record numbers in favor of gold, other commodities
China sold a record number of U.S. Treasury bonds in the first quarter of this year, marking a significant shift away from dollar assets in favor of other commodities. Beijing divested a total of $53.3 billion in Treasuries and agency bonds during the first three months of the year, while simultaneously increasing its purchases of […]
04/22/2024
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By Richard Brown
Top Russian banker calls for end of Western payment systems like SWIFT
The chief executive officer of Russia’s second-largest bank emphasized the necessity of shifting away from Western payment systems like SWIFT, stating that it is crucial for Russia and its trading partners. Addressing the Data Fusion 2024 conference on Thursday, April 18, Andrey Kostin, CEO of Russia’s third-largest bank VTB, advocated for the advancement of digital […]
04/11/2024
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By Richard Brown
Chinese renminbi replacing the U.S. dollar as most traded currency in Russia’s foreign exchange market
The Central Bank of Russia has just released a financial risk review noting how trading in the Chinese renminbi reached a historic high in March. This surge in yuan usage comes as part of Russia’s ongoing shift away from major Western currencies, spurred by sanctions imposed by the United States and the European Union over […]
03/03/2024
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By Belle Carter
Yellen wants frozen Russian assets to be given to Ukraine – a move that could drive away nations from Western banks
The United States and its allies have frozen $300 billion in Russian assets and Treasury Secretary Janet Yellen wants to unlock them and give said immobile Russian central bank funds to Ukraine. “It is necessary and urgent for our coalition to find a way to unlock the value of these immobilized assets to support Ukraine’s […]
03/03/2024
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By News Editors
West destroying its own financial system – Putin
The West is discrediting its own currencies and banking system, while established monopolies in the global economy are crumbling, Russian President Vladimir Putin said in his annual address to the Federal Assembly on Thursday. (Article republished from RT.com) Russia together with so-called ‘friendly’ nations will focus on creating new financial infrastructure that will be free […]
10/26/2023
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By Ethan Huff
China completes first ever digital YUAN purchase for cross-border oil transaction as global DE-DOLLARIZATION accelerates
The Shanghai Petroleum and Natural Gas Exchange (SHPGX) just completed its first ever cross-border transaction for oil in digital yuan rather than the petrodollar. Chinese financial news outlet Yicai was the first to report that PetroChina International purchased one million barrels of crude oil using digital yuan, this being the first time an overseas oil […]
10/09/2023
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By Richard Brown
Iraq to BAN cash withdrawals and transactions in U.S. dollars starting next year
The Iraqi government will ban all cash withdrawals and transactions in U.S. dollar starting Jan. 1, 2024. Mazen Ahmed, director-general of investment and remittances at the Central Bank of Iraq (CBI), said people who deposit dollars into banks before the end of 2023 will still be able to withdraw these funds in dollars next year. However, […]
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