BITCOIN

Charles Nenner, a financial analyst that served as head of market timing for Goldman Sachs for more than a decade, has warned about the end of dollar hegemony and its consequences for the U.S. According to Nenner, the BRICS bloc and the influence of Saudi Arabia will end the dollar as a reserve currency, and this could cause a flight to safety. Charles Nenner Predicts End of USD Hegemony The U.S. dollar will be undermined as a reserve currency; this is what Charles Nenner, a financial cycles analyst, has predicted for the future. Nenner, who had previously projected the dollar was going to survive, changed his opinion recently, stating that the decline of the U.S. dollar has already begun. In a recent interview with USA Watchdog, Nenner stated : I said the dollar is going to hold up, but not anymore, not anymore. It is really in trouble. There is actually no reason to be in the dollar. The financial analyst estimates that the recent breakout of the BRICS block, composed of Braz...

The percentage of reserves held in U.S. dollars by central banks has fallen to less than half of the global total of reserves, according to a note from Eurizon SLJ Asset Management. The note states that the recent sanctions enacted by the U.S. against the Bank of Russia have eroded trust in the dollar as a reserve currency. Central Bank Dollar Reserves Hit 47% as Trust in the Currency Erodes Central banks are beginning to diversify their reserves away from the U.S. dollar. A note issued by Eurizon SLJ Asset Management on April 17 revealed that the percentage of the reserves that central banks held in dollars hit 47% during 2022, falling sharply since 2021, when dollars represented 55%. Analysts from the firm explain that this decline in just one year is “exceptional,” and marks an acceleration of the predicted erosion rate of the U.S. dollar. The cause, the report states, has to do with the wide package of sanctions that the U.S. government applied to Russia due to its involveme...

In a congressional hearing, White House economist Jared Bernstein says there’s “some evidence” that China wants the U.S. dollar to lose its status as the world’s reserve currency. However, U.S. Senator Bill Hagerty stressed that the biggest threat to the USD dominance comes from within. China Wants to See U.S. Dollar Losing World’s Reserve Currency Status, Says Bernstein White House economist Jared Bernstein answered some congressional questions about the U.S. dollar’s status as the world’s reserve currency before the Senate Banking Committee on Tuesday during a hearing on his nomination to be chairman of the Council of Economic Advisers. Bernstein, a current member of the White House Council of Economic Advisers, previously served as chief economist to then-Vice President Joe Biden in the Obama-Biden Administration before joining the Center on Budget and Policy Priorities, where he served as a senior fellow from 2011 to 2021. During the hearing, Senator Bill Hagerty (R-TN) noted ...

Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman Al Saud discussed potential collaboration between Saudi Arabia and the BRICS on Friday. In addition, Putin and the Saudi Crown Prince “expressed satisfaction with the level of coordination at OPEC Plus aimed at ensuring the global oil market stability,” the Kremlin press service details. Putin and Saudi Crown Prince Discuss Key Bilateral Issues, Including BRICS Collaboration Russian President Vladimir Putin and Crown Prince and Prime Minister Mohammed bin Salman Al Saud of Saudi Arabia discussed several important bilateral issues during a phone call on Friday, Russian news outlet Tass reported, citing a statement released by the Kremlin press service after the call. The statement details that Russia and Saudi Arabia are satisfied with the level of coordination in the OPEC+ framework, stating: The parties expressed satisfaction with the level of coordination at OPEC Plus aimed at ensuring the global oil ma...