What Is Project mBridge?
Project mBridge is a cutting-edge initiative that enables real-time, peer-to-peer, cross-border payments using Central Bank Digital Currencies (CBDCs). This ambitious project is the result of collaboration among several key financial authorities, including the Bank of Thailand, the Central Bank of the United Arab Emirates, and the Digital Currency Institute of the People’s Bank of China. The goal of Project mBridge is to streamline international trade and enhance the efficiency of cross-border transactions.
The Prince of Saudi Arabia Decides Not to Renew the Petrodollar Agreement
Saudi Arabia has made a significant decision that could reshape global finance. Crown Prince Mohammed Bin Salman has chosen not to renew the long-standing petrodollar agreement with the United States. This marks the end of a 50-year era where oil sales were exclusively conducted in US dollars. This move signals a major shift in Saudi Arabia’s economic strategy and its increasing ties with the BRICS nations.
Is the World Moving Away from the US Dollar?
The status of the US dollar as the world’s primary reserve currency has been a cornerstone of international finance for many decades. The position afforded the United States considerable economic and strategic advantages. However, recent developments suggest a potential shift in this dynamic as countries and financial institutions explore alternatives.
How the New BRICS Currency Will Affect Gold and Silver
The BRICS alliance, a coalition of five major emerging economies – Brazil, Russia, India, China, and South Africa – has become a symbol of the shifting global economic landscape. Historically, these nations have challenged the traditional Western-dominated financial system, advocating for a more equitable distribution of economic power. Their combined economic might has led to […]
