Tin Foil Hats, Economic Reality and the Total Perspective Vortex

[searcher]

End of the Penny and the Next Phase of Currency

The dollar is going to suffer the fate of every other fiat currency from time immemorial. It’s being inflated out of existence as we speak. Or we could say digitized out of existence.

goldseek.com

 

[searcher]

China doubles down on promoting yuan as confidence in U.S. dollar takes a beating​

• China is introducing ways to bolster yuan's usage as confidence in the U.S. dollar falters.
• Three major Chinese exchanges have allowed certain foreign institutional investors to trade more futures and options contracts listed in mainland China.
• From expanding investment channels to building digital infrastructure, Beijing has been laying the groundwork to accelerate international use of its currency.

China is devising more ways for foreign institutions to use the yuan, as international confidence in the U.S. dollar falters.

The moves aim at challenging the greenback, experts said, even as the U.S. dollar remains by far the world's predominant currency. The timing is favorable as the U.S. dollar index has tumbled more than 9% this year — while the offshore yuan has strengthened more than 2% against the dollar.

More:

https://www.msn.com/en-us/money/mar...-takes-a-beating/ar-AA1HlX4P?ocid=socialshare

 

[searcher]

Fwiw (dyodd)

Putin: 'Theft' Of $300BN in Frozen Assets A 'Price Worth Paying' To Break West's Grip On Global Finance | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[searcher]

Haven't read any of this as of yet. Part 3 The next-generation monetary and financial system will probably be my first look see.

Annual Economic Report 2025

Our Annual Economic Report tackles trade tensions, global economic challenges, the rise of non-banks and the future monetary system.

www.bis.org

 

[searcher]

From June 23 - dyodd here

Dollar's Decline Meets Rising Dedollarization: The Threat Comes from Within | The Daily Economy

The Bloomberg Dollar Index has fallen nearly 8.5 percent, its steepest drop since the 1980s. Elsewhere, incremental signs point to emerging alternatives.

thedailyeconomy.org

 

[pmbug]

I missed the news on this, but almost a week ago, it was reported that Xi is going to miss the BRICS summit in Rio next week and host Brazil isn't very happy about it.

Xi Jinping will not attend the Brics summit in Rio de Janeiro next week, Chinese officials have said, marking his first absence at the high table of the world’s leading emerging economies.

Beijing has informed host Brazil of Mr Xi’s absence, citing a scheduling conflict, the South China Morning Post reported on Tuesday.

The 17th annual Brics summit is scheduled for 6-7 July.

China will likely send premier Li Qiang to the summit instead. He similarly attended the G20 summit in India in 2023 in Mr Xi’s stead.
...
The report speculated that the Brazilian president’s invitation for a state dinner to Indian prime minister Narendra Modi could have sparked Mr Xi’s withdrawal as it could have made the Chinese leader appear as a “supporting actor”.

The Chinese president has never missed a Brics summit since taking office and has participated in every edition since 2013.

For two years during the Covid pandemic, he participated in the summit virtually.

In response to reports about Mr Xi skipping the summit, the Brazilian foreign ministry said it “will not comment on internal deliberations of foreign delegations”.

The last-minute pull out, however, has reportedly left Brazil upset.
...

Xi Jinping to skip Brics summit in Brazil after India’s Modi offered state dinner

Chinese president has never missed a Brics summit before

www.aol.com