Currencies
Next month’s polls will be the second time the general election is being held during the monsoon season. The last time it was held in November was in 1999. At that time, Prime Minister Mahathir Mohamad deliberately called an early election to coincide with the rainy season to discourage Malays, angered by the sacking of […]
... written on Nov 02 2022As the world’s reserve currency, the U.S. dollar is the king of the financial world. However, the American government abuses the currency hegemony as a primary tool to advance its geopolitical interests to the extent of arm-twisting the rise of other nations. Not only Russia’s US$630 billion in foreign reserves were frozen, the world has […]
... written on Oct 27 2022She used to talk big during the contest for the job. Wannabe Prime Minister Liz Truss said that she was ready to use nuclear weapons, even though it would mean global annihilation, winning applause from Tory party members. She was, of course, trying to project strength when challenged with a hypothetical situation facing Russia’s threat […]
... written on Oct 22 2022Beijing knew it could not make “Yuan” (Renminbi) an internationalized currency overnight, nor could it replace the U.S. dollar’s dominance in the global system with the Chinese currency. China has US$3.0549 trillion in foreign exchange reserves (end of August) – the largest in the world. About a third – US$1 trillion – of its foreign […]
... written on Oct 05 2022Before then-Foreign Secretary Liz Truss won the confidence of the ruling Conservative Party to become the United Kingdom’s next prime minister, she was vigorously campaigning on the anti-China platform. Both she and former Chancellor of the Exchequer Rishi Sunak were competing with each other to win the anti-Chinese contest. She beat Sunak by 81,326 to […]
... written on Oct 03 2022Australian Facebook users were extremely anxious and worried after the country’s central bank reported a jaw-dropping loss of A$36.7 billion for the financial year 2020-21. All hell broke loose after “Real Money”, a column owned by U.S. financial media The Street, screamed at one of its articles – “Australia’s Central Bank Says It Is Bust”. […]
... written on Sep 30 2022The Dramatic Evolution Of Digital Currencies: How Cryptocurrencies Are Changing The Future Of Money?
From Bitcoin to NFTs, and the metaverse, how cryptocurrencies are changing the future of money. Undoubtedly, we are on the path towards a new form of finance that’ll use a wide variety of tech advancements to change the way people use and manage one of the most important tools: cash. It’s obvious that we […]
... written on Sep 29 2022Ringgit officially breached the psychological RM4.50 to the U.S. dollar on Sept 13, 2022 – the lowest since the 1997-1998 Asian Financial Crisis. The Malaysian currency already plunged to its 24-year low on Sept 7 when it closed at RM4.5015 to the greenback. But for the next 3 trading days, it tried to pull back […]
... written on Sep 26 2022During the 1997-98 Asian Financial Crisis, Ringgit dropped like a rock. In fact, the crisis the swept Southeast Asian countries into currency chaos had forced the Malaysian currency to depreciate by about 80%, from RM2.50 to RM4.50 per US dollar. At its worst level, the currency plunged to a record RM4.885 per dollar in 1998, […]
... written on Sep 15 2022Ringgit has finally dropped 4.50 to a US dollar on Wednesday (Sept 7) – the lowest since January 1998, during the Asian Financial Crisis. The Malaysia currency plunged as much as 4.5038 before staging a rebound to 4.5017. As feared, once it breached the psychological 4.50 level, it would be difficult to return to previous […]
... written on Sep 08 2022
