BITCOIN

Cuba’s president, Miguel Diaz-Canel, says the U.S. dollar’s global reserve currency status enables the United States to pursue an “aggressive hegemonistic policy of building walls, imposing punitive sanctions, blackmail, aggression, and slander.” He added that the BRICS economic bloc “provides a brilliant alternative for economic integration, especially for developing economies.” Cuba’s President on De-Dollarization Cuban President Miguel Diaz-Canel discussed the global de-dollarization trend in an interview with RT, aired on Thursday. He explained that the U.S. dollar’s status as the world’s reserve currency enables the United States to pursue an “aggressive hegemonistic policy of building walls, imposing punitive sanctions, blackmail, aggression, and slander,” the news outlet conveyed. The Cuban president was further quoted as saying: BRICS provides a brilliant alternative for economic integration, especially for developing economies. The BRICS nations (Brazil, Russia, India,

Lord Jim O’Neill, the British economist credited with coining the acronym BRIC, has explained that the U.S. dollar will lose its dominant status. He expects the Chinese yuan and possibly the Indian rupee to become “much more important currencies for the world.” Lord Jim O’Neill on USD Losing Its Dominant Status British economist Lord Jim O’Neill discussed de-dollarization and the potential for a proposed common BRICS currency or the Chinese yuan to replace the U.S. dollar as the world’s reserve currency in a couple of interviews this week. O’Neill, a former Goldman Sachs economist, coined the acronym BRIC over 20 years ago to describe the economic potential of Brazil, Russia, India, and China. South Africa joined the group a few years later, and the acronym was changed to BRICS. O’Neill is now the chair of venture capital firm Northern Gritstone. He believes that the U.S. dollar will lose its world’s reserve currency status at some point, stating in an interview with Going Undergro

Countries in the BRICS bloc intend to encourage the use of local currencies in cross-border trade, their foreign ministers revealed. The top diplomats, who met in South Africa, also emphasized the importance of financial inclusion, welcoming new technologies that support it. BRICS to Stimulate Trade Transactions in Local Currencies The BRICS group of the largest emerging economies (Brazil, Russia, India, China, and South Africa), will encourage the use of local currencies in international trade. The plan was announced during the meeting of their foreign ministers in Cape Town, Russian news agencies Tass and RIA Novosti reported. The first diplomats of the nations in the union met in South Africa’s oldest city on June 1 – 2. The hosting country took over the BRICS chairmanship from China earlier this year. In a joint statement published by its foreign ministry, the Department of International Relations and Cooperation, they stated: Ministers underscored the importance of encourag