Tag Archives: currency

Trump slams currency manipulation by Brussels & Beijing

US President Donald Trump stepped up attacks on China and the European Union on Friday, accusing them of manipulating their national currencies and interest rates. The US, which is currently doing well, should preserve its right to recover what was lost through such practices as illegal currency manipulation and trade deals that were not profitable for the US, the president ...

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Major Chinese banks ditching US dollar to prop up domestic currency

China’s state-owned banks have reportedly been buying US dollars in forwards on behalf of the central bank (PBOC) and immediately selling them into the spot market to support the yuan. PBOC deputy governor and head of the foreign exchange regulator Pan Gongsheng said China was confident it could keep the yuan basically stable and at a “reasonable” level. “It feels ...

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Currency war can end global US dollar dominance & those who own gold have power

The world is facing a currency war and the only hedge against the crash of the US dollar is real gold, a precious metal analyst has told RT. With geopolitical power shifting from West to East, US dominance may be ending. Read more One such sign is the recent repatriation of gold from the United States. Countries such as Turkey, ...

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Apple founder Steve Wozniak hopes bitcoin will become a single global currency

Tech legend Steve Wozniak says he is attracted to the “purity” of the idea that people around the world could one day share a single currency, despite being separated by national borders. He echoed Twitter CEO Jack Dorsey, who recently said that he believes bitcoin will become the single currency worldwide. “I buy into what Jack Dorsey says, not that ...

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US has largest debt in world history, dollar to lose status as No.1 currency – Jim Rogers

The US dollar is becoming less appealing for investors as American debt continues to soar and the greenback is printed to cover it, says investor Jim Rogers. He sees the alternative coming from BRICS countries. The American currency will lose the status of main reserve currency much sooner than 2030, Rogers said at the Valdai Club’s discussion session, held as ...

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Yuan oil contracts to strengthen China's currency status to compete with US dollar – analyst

As more countries pay for oil in yuan, the standing of the Chinese currency in global finance has grown, an analyst tells RT. However, its future path won’t be completely smooth, he warns. “If people started to pay for oil in yuan, central banks would need to hold reserves in yuan, leading to a massive increase in the global demand ...

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Trump slamming Russia for currency devaluation shows lack of knowledge or bias – analyst to RT

The ruble has lost nine percent of its value after Washington sanctions targeted Russian businesses. But that’s not the reason for the ruble’s depreciation, according to US President Donald Trump. “Russia and China are playing the currency devaluation game as the US keeps raising interest rates. Not acceptable,” Trump tweeted on Monday. Russia and China are playing the Currency Devaluation ...

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Petro-yuan to launch renminbi as global currency & kneecap petro-dollar

Yuan-backed oil futures can shatter the US dollar dominance on the crude market, according to experts polled by RT. However, the greenback will not give up the top spot easily. “The question number one is whether China will be able to make the oil market its demand market, and not the oil supply market traded in dollars, which it is ...

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‘Time has arrived for Africa to establish a single currency’ – South African president

President of South Africa Cyril Ramaphosa has suggested creating a single currency for Africa which, according to him, could boost trade across borders and match international currencies. The idea was first mooted by Ramaphosa during a meeting of the African Union in Rwanda, where 44 countries gathered to sign the African Continental Free Trade Area (CFTA) treaty. “The hour, the ...

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Caracas going crypto-crazy: Venezuela set to launch second digital currency

After successfully launching the ‘petro,’ Venezuela is now on its way to becoming the world’s first country with two national cryptocurrencies, reports TV news network Globovision. The channel quotes Venezuela’s President Nicolas Maduro, who made the announcement during his meeting with members of the party Patria Para Todos (PPT). The new virtual token, dubbed ‘petro oro’, will be backed by ...

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