Connect with us


IMF issues serious warning of US dollar collapse as Fed prepares Bitcoin, Ethereum and XRP for crypto price boom

IMF issues serious warning of US dollar collapse as Fed prepares Bitcoin, Ethereum and XRP for crypto price boom
IMF issues serious warning of US dollar collapse as Fed prepares Bitcoin, Ethereum and XRP for crypto price boom


Updated 06/17 below. This article was originally published on June 15

Bitcoin Bitcoin, along with other major cryptocurrencies Ethereum and XRP, have soared this year (with an earthquake in China potentially poised to cause Bitcoin price chaos).

Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and “discover the blockchain blockbusters poised for 1,000%+ gains” in the wake of bitcoin's halving earthquake!

The price of Bitcoin just experienced a $4 trillion “watershed moment,” while Ethereum, XRP and other major coins prepare for a Wall Street bombshell.

Today, after the Federal Reserve quietly admitted that gold was replacing the US dollar, the International Monetary Fund (IMF) warned of a “striking” decline in the US dollar's share of allocated foreign exchange reserves to central banks and governments.

Sign up now for the free five-minute CryptoCodex daily newsletter for traders, investors and the cryptocurrency curious, which will keep you informed and ahead of the bitcoin and crypto market bull run .

ForbesJanet Yellen Issues Serious $34 Trillion Warning As Bitcoin Price Set To Hit $1MBy Billy Bambrough

The US dollar is undergoing “stealth erosion”, according to the International Monetary Fund (IMF)… [+] as the Federal Reserve prepares for a new global liquidity cycle that could increase the price of bitcoin, ethereum, XRP and other cryptocurrencies.


“It is striking that the reduced role of the US dollar over the past two decades has not been offset by an increase in the shares of the other 'big four' currencies, the euro, the yen and the pound sterling,” said IMF economists Serkan Arslanalp, Barry Eichengreen and Chima Simpson. -Bell wrote in a report.

“On the contrary, this has been accompanied by an increase in the share of what we call non-traditional reserve currencies, including the Australian dollar, the Canadian dollar, the Chinese renminbi, the South Korean won, the Singapore dollar and Nordic currencies,” they wrote, pointing to “new digital financial technologies such as automated market making and automated liquidity management systems” as driving this change.

“This recent trend is all the more striking given the strength of the dollar, which indicates that private investors have turned to dollar-denominated assets,” the economists add.

Updated 6/17: Former House Speaker Paul Ryan, who now serves on the policy board of crypto-focused venture capital firm Paradigm, urged U.S. lawmakers to create a “robust regulatory framework and predictable for stablecoins” in a Wall Street Journal. opinion article.

Ryan believes that dollar-backed stablecoins could “avoid a US debt crisis and help the US keep pace with China.”

Dollar-pegged stablecoins, such as Tether's USDT Tether and Circle's USDC USDC, have exploded in recent years, reaching a market of around $150 billion, as China increases the use of its digital yuan, a central bank digital currency (CBDC).

“The United States cannot afford to stand idly by as its largest international competitor exploits latent demand for safe and convenient digital money,” Ryan wrote, pointing the finger at China and Saudi Arabia, who are “increasingly looking for options to settle payments outside of the dollar system.”

A number of stable bills have been introduced in Congress in recent years, but progress on legislation has stalled. The recent shift toward bitcoin and crypto by former president and 2024 White House hopeful Donald Trump, however, has pushed crypto policy back to the top of the political agenda.

Earlier this month, the Federal Reserve Bank of New York wrote a report outlining the narratives around “the declining share of the dollar in official reserves and the growing role of central banks in gold holdings,” which she said were “inappropriately” generalized beyond “actions.” of a small group of countries.

However, some commentators disagree with the New York Fed's assessment of the situation.

“The Fed is now admitting that some countries are moving into gold,” tech investor and former Coinbase CTO Balaji Srinivasan posted on X, highlighting what the Fed considers a “small group” that “represents 3 billion people. the world is moving away from the dollar and towards gold. »

Former billionaire and All In podcast “bestie” Chamath Palihapitiya predicted that bitcoin could “completely replace gold” as countries adopt it, potentially pushing its market cap towards $15.7 trillion gold.

Sign up now for CryptoCodexA free daily newsletter for the crypto-curious

ForbesLeak Reveals Joe Biden May Be Planning Crypto Coup Amid Bitcoin, Ethereum, and XRP Price Swings By Billy Bambrough

The price of bitcoin has increased this year as the Federal Reserve launched bitcoin, ethereum, XRP and… [+] crypto for a potential boom.

Forbes Digital Assets

Meanwhile, Joe Biden and Donald Trump's independent rival for the 2024 US presidential election, Robert F. Kennedy Jr. (RFK Jr), warned that the only way to save the dollar was through Bitcoin.

The US dollar's decline comes as the Federal Reserve prepares to cut interest rates after a two-year war against inflation following historic Covid-era stimulus and money printing.

“Central banks around the world have already started cutting rates, suggesting a broader trend toward monetary easing,” analysts at bitcoin and cryptocurrency exchange Bitfinex wrote in comments sent by email.

Fed Chairman Jerome Powell indicated this week that the Fed would cut rates at least once this year after the European Central Bank (ECB) decided to cut interest rates in the Eurozone at the start of the month.

“It seems clear that the Bank of England and the Federal Reserve will follow suit in the coming months,” Bitfinex analysts added. “The global liquidity cycle indicates that the money supply is likely to increase, which can support asset prices, including cryptocurrencies.”




The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos


to request, modification Contact us at Here or [email protected]