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USDT, the stablecoin issued by Tether, is reportedly experiencing the impacts of Chinese investors suddenly returning to their nation’s stock market. According to a new report by Bloomberg, USDT has at times traded below the value of the US dollar since the end of September. Stablecoins are usually pegged to the dollar or other assets at a 1:1 ratio. According to Dessislava Aubert, a senior research analyst at blockchain data firm Kaiko, the stablecoin discount coincided with China’s central bank implementing several easing measures in an effort to alleviate a worsening economic outlook that sent stocks surging upward. Says Livio Weng, chief executive officer of Hong Kong-based crypto exchange Hashkey, “If the traders are rushing to exchange back into fiat currency, it can be inferred that they are panic buying Chinese stocks.” Aubert suggests the slight USDT discount is indicative of a higher demand for dollars than the stablecoin. Des...

Petrodollar is the most used word in the financial sphere as the 50-year agreement with Saudi Arabia has ended. This gives the Kingdom of Saudi Arabia the license to accept local currencies from other countries for oil settlements. However, there is a critical flaw in this process as Saudi Arabia announced it is ready to accept local currencies two years ago. This is nothing new and several countries have already paid local currencies for oil with Saudi Arabia, not the US dollar, despite the petrodollar agreement being in place. Also Read: Petrodollar: Saudi Arabia Ditching the Dollar Will Affect 3 US Sectors So will Saudi Arabia stop accepting the US dollar for Oil because the petro dollar agreement came to an end? The answer is no. The US dollar ’s dominance in Oil trade reigns supreme and Saudi Arabia will continue accepting it for the majority of the transactions, even though the petro dollar is out of the equation. Read here to know more details about the petro...

Finding the right balance between regulations and banking institutions is important for Schiff, considering that Puerto Rico regulators closed down Schiff’s bank due to non-compliance. The recent fall of major banks in the United States and the need for federal intervention reignited discussions to identify the most effective ways to safeguard the crumbling economies. Comparing the episode to the financial crisis of 2008, prominent economist Peter Schiff found that increasing banking regulations contribute to the worsening financial crisis. A deeper analysis of Silicon Valley Bank (SVB) by a group of economists revealed that nearly 190 banks in the United States are at risk of a depositor-driven collapse. It was highlighted that the monetary policies penned down by central banks could hurt long-term assets such as government bonds and mortgages, creating losses for banks. The 2008 financial crisis was driven by the collapse of the housing market. However, Schiff believed the crisis ...