Rand Plunges After US Weapons Accusations Against South Africa, Schiff Criticizes Misleading Inflation Numbers, and More — Bitcoin.com News Week in Review
Another thrilling week in crypto and finance has come and gone, with information of U.S. authorities accusations in opposition to South Africa, relating to the alleged provide of the Russian state with ammunition. In different information, ten Southeast Asian nations are difficult U.S. greenback dominance, having agreed to “encourage the use of local currencies for economic and financial transactions.” In the world of crypto, Monday’s Bitcoin Cash community improve now sees the protocol with hundreds of tokens being created through the Cashtokens performance. This and far more, just under.
South African Currency Plunges to New Low Versus the Dollar a Day After the US Accused Country of Secretly Supplying Ammunition to Russia
The South African foreign money’s change charge versus the U.S. greenback plunged to a brand new all-time low of ZAR19.51:US$1 on May 12. The rand’s newest fall got here a day after the U.S. ambassador to South Africa accused the nation of secretly supplying weapons to Russia. Banking big JP Morgan stated it now tasks South Africa’s gross home product to contract by 0.2%, down from the sooner constructive projection of 0.3%.
10 Southeast Asian Nations Challenge Dollar Dominance With Push for Local Currencies
The leaders of 10 Southeast Asian nations, members of the Association of Southeast Asian Nations (ASEAN), have agreed to “encourage the use of local currencies for economic and financial transactions.” The group contains Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. This transfer will assist them cut back their reliance on the U.S. greenback.
Economist Peter Schiff Warns About a New, Incoming Great Depression Crisis, Criticizes Misleading Inflation Numbers
Peter Schiff, best-selling writer and chief economist of Europac, has warned concerning the coming of a brand new Great Depression interval in America. In an interview, Schiff acknowledged that official Consumer Price Index (CPI) numbers had been designed to mislead the general public and that the nation was going to face a melancholy worse than the one it confronted again within the Nineteen Thirties.
Cashtokens Take Center Stage Following Bitcoin Cash Upgrade: Over 26,000 Tokens Created
Following the current Bitcoin Cash improve on Monday, information reveals that roughly 1,308 fungible tokens and 25,336 non-fungible tokens (NFTs) have emerged on the blockchain. Moreover, the Cashtokens token ecosystem is now accessible by means of the blockchain explorers 3xpl.com and salemkode.com, permitting customers to discover its potential.
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