This compilation of financial-related insights includes videos from Gregory Mannarino, Michael Cowan, Wall Street Silver, and Tech Revolution.
Gregory Mannarino gives important updates about leading economics indicators of collapse as US debt skyrockets. Michael Cowan talks about how it will all unravel on October 1st as credit card delinquency soars and retail collapses. Peter St Onge on Wall Street Silver discusses salary shrinkage. Tech Revolution brings news of Russia’s plan to reshape the global economy.
Aug 29, 2023
IMPORTANT UPDATES: LEADING ECONOMIC INDICATORS COLLAPSE AGAIN! US DEBT SKYROCKETS. Mannarino
Aug 29, 2023
IT ALL Unravels Oct 1st | Credit Card delinquency’s Soar & Retail Collapses
Wall Street Silver
Aug 29, 2023
Discover the surprising turn of events as salaries for new hires shrink drastically, despite recent warnings of wage-driven hyperinflation. Peter analyzes the causes behind the wage drops, the sectors most affected, and the potential implications for the economy, including the early stages of a recession. Find out how the government and the Federal Reserve’s actions contribute to this situation and what it means for workers trying to catch up with inflation.
Aug 29, 2023
As the traditional currency system faces a confidence crisis, we explore the hidden details, the underlying tensions, and the bold choices that have brought us to this edge.
Our journey takes us through the financial corridors, as Putin’s words echo louder than ever before, revealing a world in flux, a power struggle in progress, and an uncertain future on the horizon.
We’ve carefully looked at lots of information and knowledge, learning from recent reports like a compass helping us in a new place. Big changes are happening, as we carefully study Putin’s statements and how the world is reacting to them.
I bet you’ve heard about this. Do you know that movement to shift away from the US dollar’s dominance in international trade and investments? Well, it’s hit a bit of a rough patch. Some of the key players in this movement have seen their currencies take a hit, and it’s causing a bit of a credibility hiccup.
In just the past week, we’ve seen the Chinese yuan, the Russian ruble, and the Argentine peso all take a bit of a tumble. And when I say tumble, I mean they’ve fallen in value quite a bit. This situation has prompted the central banks of these countries to step in and take some pretty serious actions to stabilize their markets.
The Chinese yuan, for example, reached its lowest value this year, sparking concerns due to the slowdown in China’s economy. Meanwhile, the Russian ruble dipped below a cent due to the impact of Western sanctions on Russia’s energy exports.
And let’s not forget the Argentine peso, which plummeted by a whopping 22% last week as Argentina wrestles with hyperinflation. Now, here’s where it gets interesting. Despite these currency woes, these countries are all working on reducing their reliance on the US dollar, which they’re calling “de-dollarization.”
Despite the troubles, they are still trying to break free from the dollar’s grip on trade.
Moscow and Beijing are leading the charge here. Vladimir Putin, the President of Russia, mentioned that more than 80% of his country’s trade with China is now being done using the yuan and ruble.
So, picture this, amid all these currency struggles and a bit of market turbulence, there’s this underlying effort to reshape how these nations do business on the global stage. It’s a bit like a high-stakes chess game where everyone’s making strategic moves to lessen their reliance on the US dollar.
Hey, let’s shift our focus to Argentina for a moment. They’ve taken an interesting step by allowing commercial banks to open accounts in the yuan. They’re also dealing with a shortage of dollars, which has put some pressure on their financial situation.
Now, here’s where it gets intriguing. The recent ups and downs in exchange rates for these countries’ currencies could work against their efforts to reduce reliance on the US dollar. This turmoil shines a spotlight on how their currencies aren’t as stable as the mighty greenback.
But here’s the twist. The biggest hurdle lies within each of these countries. They can’t quite agree on a clear plan to reduce dollar reliance, aside from boosting trade in their currencies.
Argentina’s journey toward de-dollarization has hit some roadblocks too. Even their presidential candidate is suggesting adopting the US dollar as their local currency to tackle sky-high inflation.
Now, some experts have been a bit skeptical about all this anti-dollar talk. Nobel economist Paul Krugman called it “much ado about almost nothing.” Former Treasury Secretary Larry Summers brushed off the idea that the Chinese yuan poses a significant threat to the dollar’s dominance.
While the greenback’s share of global reserves has dipped over the past couple of decades, it still makes up a solid 60% of the world’s foreign exchange holdings, according to the International Monetary Fund.
It’s been a top dog for quite some time due to its consistent price stability and the sense of security it offers.
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