‘Weaponization Project of the Dollar’: Asian Countries Talk De-Dollarization; Jim Rogers Says USD’s Time ‘Coming to an End,’ and More — Week in Review
The future destiny of the U.S. greenback continues to dominate monetary information, as investor Jim Rogers says the USD’s time is “coming to an end,” and 9 Asian international locations have been discussing de-dollarization measures in Iran. In different information, an skilled has predicted that the value of gold will skyrocket as a consequence of financial circumstances, and JPMorgan CEO Jamie Dimon has mentioned of rates of interest that individuals “should be prepared for rates going higher from here.” All this and extra slightly below, on this newest Bitcoin.com News Week in Review.
9 Asian Countries Discuss De-Dollarization Measures in Meeting Hosted by Iran
Top officers from 9 Asian international locations, members of the Asian Clearing Union (ACU), have gathered in Tehran for his or her annual assembly, the place de-dollarization takes middle stage. In addition to the officers from Bangladesh, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka, Russia’s central financial institution governor and officers from Belarus and Afghanistan additionally attended the assembly.
Renowned Investor Jim Rogers Warns US Dollar’s Time ‘Coming to an End’ as Countries Seek Alternatives
Veteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, says the U.S. greenback’s time is coming to an finish as extra international locations are looking for alternate options to the USD. “Many friends of America are moving, trying to find something to compete with and ultimately replace the U.S. dollar. It will happen. It has always happened,” he warned.
JPMorgan Boss Warns ‘Everyone Should Be Prepared’ for Interest Rates ‘Going Higher From Here’
JPMorgan Chase, the biggest financial institution within the United States, held its investor day occasion on Monday, the place CEO Jamie Dimon answered questions from analysts and journalists. Despite market expectations of a fee hike pause, Dimon cautioned that individuals “should be prepared for rates going higher from here.” The billionaire banker additionally mentioned the potential for industrial actual property to bitter following issues raised by Berkshire Hathaway’s Charlie Munger concerning the sector.
Gold Prices Poised to Skyrocket as Expert Predicts Fourfold Increase in Demand
Although gold has been buying and selling beneath the $2K vary since May 16, 2023, Rick Rule, the founding father of Rule Investment Media, is assured that the struggling U.S. financial system will trigger demand for treasured metals like gold to skyrocket. In an interview printed on May 18, Rule emphasised that individuals’s nervousness concerning the buying energy of standard financial savings strategies has all the time been the principle issue driving gold costs. According to Rule, this pattern is prone to proceed, and he predicts that demand for gold will enhance by fourfold within the close to future.
What are your ideas about latest conversations on the greenback shedding its affect in world economics? Let us know within the feedback part beneath.
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