China, Brazil Strike Deal To Ditch Dollar For Trade
Last week, Brazil announced that it had forged a new deal with its largest trading partner, China, to trade in the two countries’ own currencies.
U.S. Dollar Stages New 200 DMA Breakout, Hits Four-Month High
The U.S. Dollar Index continues to climb amid expectations of a strong U.S. economic recovery from the pandemic.
Weekend Roundup: A Brief Update on the U.S. Downgrade
While I am on the road this weekend, I am keeping a close eye on the unfolding drama in the global economy. After the S&P’s decision to downgrade America’s credit rating, things are certain to get interesting this week.
Greenspan: No U.S. Default Because ‘We Can Always Print Money’
Former Federal Reserve Chairman Alan Greenspan on Sunday ruled out the chance of a US default following S&P’s decision to downgrade America’s credit rating because the U.S. “can always print money.”
Dollar Will Lose Global Reserve Currency Status, Says Central Bankers
Editor’s Note: In Jerry Robinson’s book, Bankruptcy of Our Nation, Jerry forecasts that by 2020 the U.S. dollar will lose its global reserve status. There is more and more news that points to this forecast becoming reality. As the world recognizes the economic problems in the United States, they will gravitate toward safer currencies in the years to come.
America’s Petrodollar System: A Timeline of the Rise and Fall of the U.S. Dollar
When will the U.S. Dollar collapse? Here’s a brief timeline that summarizes the rise and fall of the U.S. Dollar. It also details the decline of the dollar due to the petrodollar collapse.
Another Sign of the Dollar Collapse: World Bank Issues First Yuan Bonds
While the yuan is still years away from being able to displace the dollar in global trade, it is inevitable that the U.S. dollar will continue its downward trend which will require the rise of other currencies. The two contenders to watch closely in the coming years are the euro and the yuan.