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The People’s Bank of China has continued to purchase gold to add to the country’s foreign reserves, according to official data. The purchase, albeit marginal, fuels China’s 10-month streak of acquisitions, even at record prices. China Continues to Purchase Gold Even at Record Prices Countries have started to turn to gold again, given the current … Read more
With this move, El Salvador follows in the footsteps of other nations like China, Turkey, and India, which have been significant buyers of gold to diversify their foreign reserves. The Central Bank of El Salvador now holds 58,105 troy ounces of gold, valued at nearly $207.4 million. El Salvador Joins the Gold Rush With 13,999 … Read more
Bitcoin is surging as the ultimate hedge while global economies unravel, bond markets plunge, and fiat currencies lose trust, warns renowned financial educator Robert Kiyosaki. Robert Kiyosaki Warns of Economic Insanity and Stands Firm on Bitcoin as Protection Robert Kiyosaki, author of the best-selling book Rich Dad Poor Dad, has once again cautioned about the … Read more
India’s biggest fuel buyer just sent a message with its wallet: Indian Oil Corporation deliberately skipped U.S. crude in its latest tender and shopped elsewhere. From Houston to Das: IOC’s Tender Tells a Bigger BRICS Story In a week when it could have tapped West Texas Intermediate, Reuters reported that Indian Oil Corporation (IOC) picked … Read more
Traders across futures and prediction markets are nearly unanimous: the Federal Reserve is expected to cut interest rates at its September meeting, with a 25 basis point reduction the clear favorite. Fed Decision Looms With Markets Bracing for Easing The next Federal Open Market Committee (FOMC) meeting is set for Sept. 17, now less than … Read more
The threat to the U.S. dollar’s reserve currency status is accelerating a flight to crypto and gold, underscoring deepening fiscal cracks spotlighted by Bridgewater Associates founder Ray Dalio. Ray Dalio Calls out Fiscal Pressure on US Dollar—Why Crypto Is Benefiting Bridgewater Associates founder Ray Dalio shared on social media platform X on Sept. 2 that … Read more
The initiative, focused on incorporating President Milei’s policies into Argentina’s regulatory framework, establishes that state budgets cannot rely on money issuance to finance expenditures and proposes penalties for officials who breach these rules. President Milei Vows to Stop Money Issuance With New Bill Argentina is evolving to include a new, restrictive budgetary framework aimed at … Read more
Brazil’s President Luiz Inácio Lula da Silva organized a BRICS meeting to mediate a possible joint response to the unilateral tariffs enacted by the US government on member countries. The meeting will also seek the organization’s support for multilateralism. BRICS to Discuss U.S. Tariffs, Rally on Multilateralism The unilateral tariff regime enacted by the Trump … Read more
Russian President Vladimir Putin stressed that most of the trade between the two countries is settled using yuan and ruble-based payments, leaving the dollar behind. He noted that Sino-Russian trade had risen by $100 billion, and they were still working to dismantle trade barriers. Putin: Local Currencies Take Control of Sino-Russian Trade, Dollar Relegated President … Read more
Otavio Costa, an economic strategist, recently highlighted that the U.S. treasuries had been displaced by gold to become the main reserve asset held by central banks around the world. Costa believes that this might precede a major economic rebalance. Gold Defeats U.S. Treasuries as Reserve Asset: What Comes Next? The world is experiencing an economic … Read more
