Commentary In the full panoply of the Biden administration’s foreign policy errors aned gaffes, perhaps none was so stupid as its failed attempt to weaponize the dollar—the world’s reserve currency—against Russia for its invasion of Ukraine. It’s telling that during World War II, neither the United States nor the United Kingdom—when the British pound sterling was…
Biden’s Weaponizing the Dollar Against Russia Has Backfired
July 3, 2023
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RIP, Renminbi
September 17, 2022
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Commentary The Chinese yuan (a.k.a. renminbi) is on pace to drop the most against the U.S. dollar in history as the world’s two biggest economies carve divergent paths in monetary policy. On Sept. 15, it broke the psychologically important 7 yuan to 1 U.S. dollar barrier. The U.S. Federal Reserve is poised to continue its…
China and Russia—With Help From Biden—Attack the Dollar
August 12, 2022
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Originally published by Gatestone Institute Commentary “The issue of creating an international reserve currency based on a basket of currencies of our countries is being worked out,” said Vladimir Putin in June, at a meeting of the BRICS—Brazil, Russia, India, China, South Africa—grouping. Russia and China have launched another attempt to develop a “new global reserve currency.”…
China’s Digital Yuan, Biggest Threat to the West, Is Overshadowed by Russian War, Kyle Bass Warns
April 17, 2022
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Russia’s war in Ukraine is obscuring one very alarming threat posed by the Chinese regime: its system of paperless money, warned hedge fund manager Kyle Bass. “It is, I think, the single largest threat to the West in the last 50 years. And it’s being overshadowed by the Russian invasion of Ukraine,” Bass said during…
Could China Use Ukraine War to Challenge US Dollar Hegemony?
March 17, 2022
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Commentary Russia’s war in Ukraine, and the West’s response so far, has been a gift to China. The West’s strict sanctions on Russia have isolated the country from much of the world. It needs a financial lifeline. The war in Ukraine, and the West’s sanctions against Russia, is providing a unique opportunity for China to…
Ukrainian Victory Is Essential for Both Europe and Asia
Commentary The recent example of Russian barbarism and medieval sieges of Ukrainian cities is a stark reminder that we still live with dictators who believe in blood and soil, despise any notions of constitutional self-governance, and do not observe any fictional “red lines” that third parties project onto them. Ukraine Is Not About NATO, It’s…
China’s Digital Currency Is a Surveillance Tool Threatening US: Former US Representative
February 11, 2022
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Beijing’s new digital currency is a tool that could prop up authoritarian regimes around the world, including China, and the Chinese paperless money could also undermine U.S. leadership in finance, warned a global finance professional. “This is a surveillance tool and it’s disguised as a payment mechanism. It’s going to allow the People’s Bank of…
‘Trojan Horse’: Kyle Bass Warns China Will Use Digital Yuan to Export Tech Authoritarianism
The Chinese regime is using its new state-controlled digital currency as a Trojan horse against western democracies—and the free world needs to outlaw it, warned hedge fund manager Kyle Bass. “I think that the digital RMB [renminbi] is the largest threat to the world as it exists today,” Bass said in an interview with The…
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