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arusso • Jul 17, 2023, 4:48 pm EDT

Russia and Southeast Asian Nations Eye De-dollarization in Trade Settlements

In a paradigm-shifting move, Russia is discussing the use of national currencies in trade settlements with 10 Southeast Asian nations, as revealed by Russian Foreign Minister Sergey Lavrov. These nations are members of the Association of Southeast Asian Nations (ASEAN), comprising Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. The discussions come amidst a global push to “de-dollarize” economies and reduce dependence on the US dollar, particularly among nations looking to assert greater autonomy in the global financial landscape. The shift aligns with Russia’s goal of promoting a multipolar world order, a stance the country maintains despite

3 minutes

carlp • Jul 12, 2023, 1:43 pm EDT

Russia Set to Launch ‘Digital Rouble’ on August 1, 2023

After years of speculation and development, Russia is set to launch a digital version of its national currency, the rouble, in just a few weeks on August 1, 2023. As reported by the Interfax news agency and the Russian government, the country will begin testing the ‘Digital Rouble’ with consumers starting in August, after receiving the green light from the Russian Duma, the lower house of parliament. The move forms part of a broader global trend, with central banks worldwide exploring the possibilities of implementing Central Bank Digital Currencies (CBDCs). However, Russia, pending President Putin’s approval of the legislative proposition,

3 minutes

satoshin • Jul 11, 2023, 5:39 pm EDT

How An Economy Grows and Why It Doesn’t: Timeless Economic Lessons For Everyone

The American economic landscape is filled with complex theories and intricate practices. However, understanding these concepts doesn’t always require an economics degree. Sometimes, the simplest stories can capture the essence of complex economic ideas. Such is the case with Irwin Schiff’s classic educational comic from the 1980s, “How an Economy Grows and Why It Doesn’t.”

4 minutes

johnd • Jul 11, 2023, 3:25 pm EDT

The Bank of England’s Digital Pound and Its Implications

The Bank of England’s prospective digital pound, dubbed “Britcoin” by Prime Minister Rishi Sunak, heralds a transformative shift in the financial ecosystem, increasing government control over financial transactions. This is according to Susie Violet Ward, a financial analyst, who expressed her concerns on NTD’s “British Thought Leaders” programme. An unprecedented 130 nations are exploring central bank digital currencies (CBDCs), as the Atlantic Council reports, and the BoE is at the forefront of the movement. Still in the deliberation phase, the Bank and the Treasury are examining public opinions about the implementation of Britcoin. If Britcoin becomes a reality, it could

3 minutes

satoshin • Jul 10, 2023, 4:21 pm EDT

BRICS Leads Global Shift towards a New Gold-Backed Currency

According to state-run RT, the Russian government has confirmed that Brazil, Russia, India, China and South Africa (BRICS nations) will introduce a new trading currency backed by gold. “The official announcement is expected to be made during the BRICS summit in August in South Africa.” Neils Christensen for KITCO Over 41 nations have announced they will accept the new currency signaling that we are on the verge of a significant financial pivot as the countries’ potential alliance within BRICS is leading the movement towards a new gold-backed currency. Thorsten Polleit, Chief Economist at Degussa, analyzing the move, stated that a

3 minutes

satoshin • May 16, 2017, 6:04 pm EDT

Major World Events That Affect Bitcoin’s Value

Japan’s legalization of Bitcoin has caused bitcoin value to surge. Bitcoin’s Short Term Volatility and Long Term Bullish Market. How to invest in Bitcoin. Japan- the World’s Largest Bitcoin Market On April 1st Japan (NYSEARCA:EWJ) enacted a law that accepted Bitcoin (Pending:COIN) has a legal payment method. Since then, Bitcoin trading volume has skyrocketed and increased its value by 80%. During this time, Japan surpassed China (NYSEARCA:FXI) and became the world’s largest Bitcoin market in the world. The figure below illustrates the strike enacted by Japan’s (NYSEARCA:DXJ) legalization of the cryptocurrency. Source: investing.com Bitcoin’s Short Term Volatility and Long Term

2 minutes