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On the heels of the 16th BRICS summit in October 2024, Russian Foreign Ministry spokesperson Maria Zakharova called the US dollar a “problematic currency.” She said that the de-dollarization agenda is not a goal for some nations, but a reality. While the initiative took wings last year, it is now an ash-covered cinder that has taken a temporary refuge. Also Read: BRICS: Nobody Will Trust the US Dollar Again The temporary refuge to pause de-dollarization comes after US President Donald Trump threatened 100% tariffs on goods from BRICS countries. This led to many countries, especially India and Brazil dropping the de-dollarization ideals and embracing the US dollar. The backtracking comes from threats and not out of their own will. The main issue with developing countries was that the US was weaponizing the dollar for their benefit. Even former US Treasury Secretary Janet Yellen admitted that sanctions have led to de-dollarization. From pressing sanctions to ruining economies, the ...

De-dollarization is no longer a dirty word in the financial sector, as developing countries are positioning their economies to cut ties with the US dollar. While the threat to the USD comes mainly from the Federal Reserve printing unlimited currency bills and uncontrolled debt in the homeland, developing nations are grabbing the bull by the horns to keep local currencies on top of the global financial order. Also Read: Bitcoin: Here’s What Elon Musk’s Tesla Is Doing With Its BTC Global Trade Shifts: Emerging Economies Challenge Dollar Dominance The de-dollarization process termed impractical a decade ago, is now a reality in 2024. Talks of issuing a common currency among emerging economies are growing as they look to ditch the US dollar for trade. A common currency would be a paradigm shift in how global trade operates. New trade policies could be written to favor their economies and directly hit the Western financial domination. Also Read: Sanctions Backfire: European Exporters Suffer...

The U.S. Securities and Exchange Commission (SEC) said on Friday it intends to seek sanctions against Elon Musk in its ongoing Twitter probe. The SEC says Musk failed to appear for court-ordered testimony for their probe into his $44 billion takeover of X. JUST IN: SEC seeks sanctions against Elon Musk in its X (Twitter) takeover investigation. pic.twitter.com/bF6Cr3gszt — Watcher.Guru (@WatcherGuru) September 20, 2024 The SEC wrote in a court filing Friday that the sanctions motion would seek an order to show cause for why Musk should not be held in civil contempt. Musk waited until just three hours before the scheduled Sept. 10 testimony to advise he would not appear, according to the regulator. The SEC has been investigating Musk’s purchase of Twitter for 11 months, looking to get the Tesla founder to testify. They are investigating potential violations of U.S. securities laws around the purchase, according to an SEC filing in October 2023. The SEC sued Musk that month t...