The BRICS countries revealed that they are “creating an international reserve currency” that analysts believe is aimed at challenging the dollar and the International Monetary Fund’s Special Drawing Rights (SDR) currency. In addition, Donald Trump warned of a recession in America, Rich Dad Poor Dad writer Robert Kiyosaki said we were facing the “biggest bond collapse” in more than 200 years, and FTX CEO Sam Bank Manfried said he was ready to deploy ” Hundreds more than our millions to date” to help digital currency companies. Get ready for another Bitcoin.com News Week recap.
Aiming for dollar hegemony: Russia, China and BRICS plan to create new international reserve currency
While inflation figures in Europe and the United States rose markedly last month, Russia and BRICS members revealed that the leaders of five major emerging economies were “creating an international reserve currency”. Analysts believe the BRICS reserve currency is designed to rival the U.S. dollar and the International Monetary Fund’s (IMF) Special Drawing Rights (SDR) currency.
Donald Trump warns US economy is facing ‘bigger problems than recession’ – ‘We’re going to be in a depression’
Former President Donald Trump has warned that the U.S. economy is facing “bigger problems than a recession.” Noting that “we’re going to be in a depression,” he stressed: “We have to get this country going or we’re going to have serious problems.”
FTX helps Voyager clients, CEO says firm willing to deploy ‘hundreds of millions’ to help crypto industry
Sam Bankman-Fried, founder and CEO of leading exchange FTX, has offered to provide early liquidity to Voyager Digital’s clients, according to an FTX announcement on July 22. Additionally, Bankman-Fried discussed the crypto industry interview with CNBC in an exclusive interview, noting that he is willing to deploy “hundreds of millions of dollars beyond what we have had to date” to help digital currency companies affected by the downturn in the crypto market.
Robert Kiyosaki Warns of ‘Biggest Bond Crash Since 1788’ – Waiting to Buy Bitcoin at Lower Prices
Robert Kiyosaki, famous author of the best-selling Rich Dad Poor Dad, warns of “the biggest bond crash since 1788.” He stressed that the “real problem” is the bond market, which is “40 times larger” than the stock market. He is waiting for the Bitcoin price to drop further to buy some.
Do you think the BRICS countries will succeed in creating a new international reserve currency? If so, will it challenge the dollar’s dominance? Be sure to let us know in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or an invitation to buy or sell, nor is it a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned herein.