05:30 Indonesia Introducing New National Payment System to Protect Against ‘Geopolitical Consequences’
BRICS Nations Discuss Expansion Plan as Membership Interest Grows The BRICS countries are developing guidelines in response to increasing demand from countries seeking to join, according to South Africa’s Foreign Affairs Minister Naledi Pandor. “BRICS is attracting a lot of interest from a number of countries, and our sherpas are working on the concept of how the group can respond to this interest,” she […]
US Dollar’s Importance Declining in International Transactions and as Reserve Currency, Economist Says
Economist Peter Schiff Warns About a New, Incoming Great Depression Crisis, Criticizes Misleading Inflation Numbers Peter Schiff, best-selling author and chief economist of Europac, has warned about the coming of a new great depression period in America. In an interview, Schiff stated that official Consumer Price Index (CPI) numbers were designed to mislead the public and that the country was going to face a depression worse than the one it […]
China, France to Deepen Ties Following Meeting of French President Macron and Chinese Leader Xi Jinping
Harvard Economics Professor: US Default Could Spark Global Financial Crisis Harvard economics professor Kenneth Rogoff, who previously served as the chief economist at the International Monetary Fund (IMF), has warned that the U.S. defaulting on its debt obligations could spark a global financial crisis. “It’s a very perilous situation and we are in unknown waters,” he warned. Harvard Professor of Economics Kenneth Rogoff on U.S. […]
Inflation in China Down to Lowest Number in More Than Two Years; Analyst Proposes Giving Cash Handouts to Avoid Deflation Inflation in China registered an increase of 0.1% year-over-year in April, according to numbers from the National Bureau of Statistics of the country, falling below expectations. Some analysts are already warning about the dangers of deflation, even calling on the Chinese government to deliver cash handouts in order to push consumer demand. Low Inflation Numbers […]
IMF Warns of ‘Very Serious Repercussions’ if US Defaults on Debt Obligations The International Monetary Fund (IMF) has warned of “very serious repercussions” to both the U.S. and the global economy if the U.S. defaults on its debt obligations, which could be as soon as June 1. “We are calling on all of the parties to come together, reach consensus, and resolve the matter as quickly as […]
US Treasury Secretary Janet Yellen Urges Congress to Act Quickly on Debt Limit, States Defaulting Would Be ‘Unthinkable’ U.S. Treasury Secretary Janet Yellen has warned again about the consequences of the U.S. defaulting on its debt. During a press conference in Niigata, Japan, Yellen stated that this would be a self-inflicted crisis, and urged Congress to act quickly on the matter, stating that defaulting would be an unthinkable outcome on this issue. US […]
SEC Chair Warns US Default Would Have ‘Significant’ and ‘Lasting Effects’ on Investors, Markets Securities and Exchange Commission (SEC) Chairman Gary Gensler has warned that the U.S. Treasury defaulting on its debt obligations “would have very significant, hard to predict, and likely lasting effects on investors, issuers, and markets alike.” Gensler stressed: “We’ve already seen an effect in the pricing and liquidity of short-dated Treasury bills and continue to […]
Goldman Sachs, Yellen Warn of US Default’s ‘Catastrophic Consequences’ — ‘There Is Real Risk to US Dollar’ A Goldman Sachs executive who also serves as the chair of a Treasury advisory committee has warned that a U.S. default poses “real risk to the U.S. dollar.” She stressed: “Anything that moves us away from being viewed as the world’s reserve currency, of being the safest most liquid asset in the world, is bad […]
Donald Trump Urges Republicans to Let US Default on Debt if Democrats Don’t Agree to Spending Cuts Former U.S. President Donald Trump has urged Republican lawmakers to let the U.S. default on its debt obligations if the Democrats do not agree on “massive” spending cuts. Trump, who is also running for president in 2024, stressed that letting the U.S. default is “better than what we’re doing right now because we’re spending money […]
Former US Secretary of Labor Robert Reich Urges Bypassing Congress to Raise Debt Ceiling Robert Reich, former secretary of labor in the U.S., has called for the government to bypass Congress in order to raise the debt ceiling unilaterally. Reich states that the constitution of the U.S. gives President Biden the faculty of ignoring this debt limit, declaring it unconstitutional — explaining its existence is less significant than the […]
JPMorgan CEO Jamie Dimon in Favor of Abolishing Debt Limit; States Getting Close to Default Can Cause Panic Jamie Dimon, CEO of JPMorgan, stated that he favored abolishing the debt limit, giving the government the faculties to extend its debt without congressional action. Dimon also stated that even the drama surrounding the build-up to extending or not extending the debt limit could cause panic, as the U.S. economy is foundational for the world. […]
BRICS Leaders Set to Discuss Common Currency to Challenge US Dollar Dominance in Upcoming Summit The BRICS nations are set to discuss the feasibility of a common currency at the upcoming leaders’ summit. “It’s a matter we must discuss and discuss properly,” a South African minister stressed, noting that a growing number of countries are saying: “Why can’t we trade in our own currencies? Why are we committed to trading […]
Investment Analyst Warns Successful BRICS Currency Could Hurt US Living Standards Investment analyst Jon Wolfenbarger has warned that a successful BRICS currency could hurt U.S. living standards and “lead to less power for the U.S. government, similar to the weakening of the UK after World War II.” He stressed: “Due to the Russia-Ukraine war and China’s continued economic growth, the BRICS are accelerating plans to take […]
Economist Peter Schiff Says ‘Nobody’s Money Is Safe in Any Bank’ — Warns of Financial Crises, Depressions Economist Peter Schiff expects a lot more banks to fail, warning that “nobody’s money is safe in any bank.” He stressed: “When the Fed sets interest rates too low and prints a lot of money … it unleashes massive inflation, creates tremendous economic imbalances that result in financial crises and depressions when the bubbles burst.” […]
Bank of America: Threats to US Dollar’s Dominance Largely Domestic — Not BRICS Currency or Chinese Yuan
Billionaire Bill Ackman on US Banking Crisis: We Are Running Out of Time to Fix This Problem Billionaire Bill Ackman has warned that “We are running out of time” to fix the problem that led to the collapses of regional banks. “How many more unnecessary bank failures do we need to watch before the FDIC, U.S. Treasury, and our government wake up?” he stressed, adding that “We need a systemwide deposit guarantee […]
Fed Reveals 722 Banks Reported Unrealized Losses Over 50% of Capital as Concerns Over US Banking Crisis Grow
Saudi Arabia Joining BRICS Would Accelerate Chinese Yuan’s Use as Trading Currency, Says Professor Professor Ashok Swain of Uppsala University’s Department of Peace and Conflict Research says Saudi Arabia joining the BRICS economic bloc “would accelerate the bilateral trading being conducted using the yuan as the trading currency. ” How Saudi Arabia Joining BRICS Could Boost Use of Chinese Yuan Ashok Swain, a professor of peace and conflict research at […]
Fed Chair Warns of ‘Uncertain and Adverse’ Consequences of US Debt Default — ‘We’d Be in Uncharted Territory’
Argentine Foreign Minister Says a Latin American Common Currency Would Relieve Argentina’s Stress on the Dollar Issue Argentine Foreign Minister Santiago Cafiero referred to the advantages the issuance of a Latin American common currency would give Argentina. Cafiero stated that the existence of such a currency would relieve the stress that the country is currently facing regarding the state of its foreign reserves and the devaluation of its fiat currency. Argentine Foreign […]
Brazilian President Lula to Act as BRICS Liaison to Help Argentina, Discusses Credit Line in Brazilian Reals
Iran Seeks BRICS Membership to Counter Western Hegemony, Promote Multipolar World, Says President Raisi
IMF Chief Warns of More Weaknesses in US Banking Sector — Sees ‘Gradual’ Shift Away From US Dollar International Monetary Fund (IMF) Managing Director Kristalina Georgieva expects “more vulnerabilities” in the U.S. banking sector amid a growing de-dollarization trend worldwide. “There has been a gradual shift away from the dollar,” the IMF chief acknowledged. U.S. Banking Crisis Continues The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, talked about the U.S. […]
Robert Kennedy Jr Warns of Mega Economic Crisis — Says ‘It’s Not Just the Banks’ U.S. Presidential Candidate Robert F. Kennedy Jr. has warned that “the banking collapse is the tip of an economic mega-crisis,” emphasizing that “It’s not just the banks.” He also slammed President Joe Biden’s crypto mining tax proposal. “It is a mistake for the U.S. government to hobble the industry and drive innovation elsewhere,” Kennedy stressed. […]
Morgan Stanley Strategist Warns of Equities Sell-Off in Response to ‘Hawkish’ Fed Message On Monday, Morgan Stanley’s equity strategist, Michael Wilson, shared his thoughts on the state of Wall Street. He expressed his belief that a sell-off could be imminent, and that this could occur as a result of U.S. Federal Reserve chairman Jerome Powell’s upcoming remarks on Wednesday. Furthermore, there has been a great deal of conjecture […]
