BRICS Countries Look To Establish A Reserve Currency
Ambassador at large of Russia’s Foreign Ministry Pavel Knyazev revealed this week the BRICS countries are working to establish a new reserve currency they can use to facilitate trade, which…
China Is Dumping Dollars And Buying Yuan
China has instructed its state-run financial institutions to buy up offshore yuan, and sell off their dollar holdings, in an effort to bolster their own currency against a rising dollar,…
Russian Alternative To SWIFT System Growing Rapidly
Alla Bakina, the head of the Russian central bank’s national payment system department announced that Russia’s SPFS interbank messaging system has grown faster this year than ever before. Bakina noted…
Russian Bank, Under Sanctions, Bypasses Swift
VTB, a top Russian bank, has begun to make money transfers to China in yuan, bypassing the SWIFT global financial messaging system. VTB CEO Andrey Kostin said in a statement,…
FedNow Instant Payment System Could Avert Need For CBDC
The Federal Reserve is on schedule to produce an instant payment service between May and July of 2023, according to the bank, as it gave the clearest timeline yet for…
Russia And India Can Settle Trade In Rubles And Rupees, Without Dollars
Russia and India have now established a means of conducting mutual settlements in rubles and rupees, and no longer need to use the US dollar for trade between the nations,…
Euro Falls Below Dollar
On Monday, for the second time in just over a month, the euro fell below parity with the US dollar as fears of a recession in Europe build. The euro…
Analyst Says Dropping Chinese Tariffs Does Nothing For Inflation
As the Biden regime looks to tame rampant inflation in the runup to the 2022 midterms, one option that is being discussed is eliminating Trump-era tariffs on Chinese goods. The…
Bank Of America Says Euro At Risk
Bank of America’s strategists say the euro is in for more pain, even after the worst first half it has seen since 2015. Bank of America strategists, led by Athanasios…
Japanese Yen Continues To Fall Against The Dollar
The yen continued to fall against the dollar Tuesday. It extended a twenty-year low that stretches back to April of 2002, as the gap widened between yields in Japan and…
