The US dollar has been a hot topic in recent weeks, with multiple developments reported globally that could signal significant moves towards de-dollarization in large economies. Former US Congressman Ron Paul also noted this week that if the USD’s influence as a reserve currency is undermined, it could happen later than some expect. All this and more, just below, in the latest review of the Bitcoin.com news week.
Tensions between the US and Saudi Arabia rise as a report says the crown prince is no longer interested in pleasing the US.
After Saudi Arabia and members of the Organization of the Petroleum Exporting Countries (OPEC) shocked the world by announcing cuts in oil production, a spokesman for US President Biden’s National Security Council said cutting production is not recommended. According to a recent report, Saudi Crown Prince Mohammed bin Salman has told his associates that Riyadh is no longer interested in pleasing the United States.
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BRICS countries working on the creation of a new currency to be discussed at the next leaders’ summit: Report
The BRICS nations are reportedly working on developing a new form of currency, which is expected to be discussed at the upcoming BRICS leaders’ summit, according to a senior Russian official. “The transition to settlement in national currencies is the first step. The next one is to provide the circulation of digital currency or any other form of a fundamentally new currency in the nearest future,” said the deputy chairman of the Russian State Duma.
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Ron Paul on the fall of the US dollar as a reserve currency: “It is always longer than some predictions”
Ron Paul, a former US representative and member of the Libertarian Party, has referred to recent events aimed at undermining the influence of the US dollar as a reserve currency in international markets. Paul believes that even if this happens, it will probably take longer than some predictions say.
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Elon Musk Asks Judge To Dismiss $258 Billion Dogecoin Lawsuit: Insists Tweeting Support For DOGE Is Not Illegal
Tesla and Twitter CEO Elon Musk has asked a US judge to throw out a $258 billion lawsuit brought against him by dogecoin investors. They alleged that the billionaire operated a pyramid scheme to promote the meme cryptocurrency dogecoin. “There is nothing illegal about tweeting words of support or funny images about a legitimate cryptocurrency that continues to have a market capitalization of nearly $10 billion,” Musk’s lawyer argued.
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What do you think awaits the US dollar? What about bitcoin and dogecoin? Let us know in the comments section below.
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