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Economics

russian-state-duma-deputy-chairman:-brics-swift-counterpart-needed-for-creating-a-new-economic-reality

Russian State Duma Deputy Chairman: BRICS SWIFT Counterpart Needed for Creating a New Economic Reality

Alexander Babakov, Deputy Chairman of the Russian State Duma, highlighted the need to create a BRICS equivalent to the SWIFT messaging system, which routes payments alongside the current banking infrastructure. Babakov emphasized that this new system would help to reduce the dependence on Western institutions and simplify settlements outside the dollar-dominated system. BRICS SWIFT Equivalent […]

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brics-poised-to-dominate-world-bank-and-imf,-says-russian-executive-director

BRICS Poised to Dominate World Bank and IMF, Says Russian Executive Director

The World Bank Executive Director for Russia forecasts that BRICS nations will soon dominate the World Bank and the International Monetary Fund (IMF), attributing this shift to inevitable macroeconomic and demographic changes away from Western dominance. He emphasized the importance of working patiently toward this goal and resisting provocations from those upholding the old global

BRICS Poised to Dominate World Bank and IMF, Says Russian Executive Director Read More »

brics-considers-iran’s-proposal-to-link-payment-systems-of-all-member-countries,-says-russian-official

BRICS Considers Iran’s Proposal to Link Payment Systems of All Member Countries, Says Russian Official

The BRICS economic bloc is considering Iran’s proposal to link all member nations’ payment systems, according to Russian Deputy Foreign Minister Andrey Rudenko. The proposal aims to enhance BRICS countries’ financial sovereignty by establishing a resilient and sanctions-resistant payment infrastructure. Discussions include integrating financial markets, payments in national currencies, and new mechanisms for mutual financial

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financial-expert’s-contrarian-view:-lower-oil-prices,-weaker-us-dollar-under-trump

Financial Expert’s Contrarian View: Lower Oil Prices, Weaker US Dollar Under Trump

Michael Kao, a financial analyst and commentator renowned for his accurate predictions on oil and the U.S. dollar, offers a contrarian perspective on former President Donald Trump’s potential impact on these markets. Kao argues that Trump’s policies will be deflationary for oil and subsequently weaken the U.S. dollar. Market Analyst Michael Kao Predicts Trump’s Influence

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mining-company-ceo-claims-silver-deficit-is-growing,-institutions-might-drive-prices-higher

Mining Company CEO Claims Silver Deficit Is Growing, Institutions Might Drive Prices Higher

Keith Neumeyer, CEO of First Majestic Silver, a Canada-based mining company, discussed the silver production deficit in today’s precious metals markets. Neumeyer stated that while retail investors are interested in silver, institutions have to enter the market, supporting the activity of these extractive companies needed for many industrial purposes. Silver Prices Poised to Rise if

Mining Company CEO Claims Silver Deficit Is Growing, Institutions Might Drive Prices Higher Read More »

putin-envisions-official-brics-parliamentary-organization

Putin Envisions Official BRICS Parliamentary Organization

Russian President Vladimir Putin believes that the BRICS economic bloc will have its own official parliamentary organization in the future. Speaking at the 10th BRICS Parliamentary Forum, Putin emphasized the importance of parliaments in promoting multilateralism and global security. He highlighted BRICS’ principles of democracy, sovereignty, and mutual respect, and called for collective efforts to

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economist-highlights-possible-‘hidden-recession’:-official-figures-may-understate-inflation-impact

Economist Highlights Possible ‘Hidden Recession’: Official Figures May Understate Inflation Impact

In a recent editorial, economist Peter St Onge explores the potential of a hidden economic recession, suggesting that official figures might not reveal the full extent of the decline. St Onge raises concerns about the accuracy of U.S. inflation data and its implications for measuring true economic growth. Peter St Onge, Official Figures May Understate

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milei-reveals-new-economic-phase-for-argentina:-zero-monetary-issuance

Milei Reveals New Economic Phase for Argentina: Zero Monetary Issuance

Javier Milei, the libertarian President of Argentina, has revealed the new policies that will be applied to cement the economic victories he has achieved in Argentina. In an interview, he stated that now, with the recent approval of the omnibus law, the country has reached phase two of its economic plan, which entails having zero

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nigeria’s-naira-rated-worst-performing-currency-in-h1-of-2024;-kenyan-shilling-named-best-performer

Nigeria’s Naira Rated Worst-Performing Currency in H1 of 2024; Kenyan Shilling Named Best Performer

In the first half of 2024, the Nigerian currency depreciated by nearly 40%, making it the worst-performing currency during that period. Meanwhile, the Kenyan shilling appreciated by 20.7%, ranking it as the best performer. The depreciation of the Nigerian naira was primarily driven by U.S. dollar shortages. Naira Falls for 9 Straight Days The Nigerian

Nigeria’s Naira Rated Worst-Performing Currency in H1 of 2024; Kenyan Shilling Named Best Performer Read More »

16-nobel-laureates-warn-of-threats-to-us-economy-under-trump’s-second-term

16 Nobel Laureates Warn of Threats to US Economy Under Trump’s Second Term

Sixteen Nobel Prize-winning economists have voiced concerns about the potential risks to the U.S. economy if Donald Trump secures a second term as president, emphasizing threats to economic stability and the rule of law. “The outcome of this election will have economic repercussions for years, and possibly decades, to come,” they cautioned. Nobel Economists Predict

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