Rumours have been circulating that Saudi Arabia is vending oil in exchange for yuan, which is then converted into gold on the Shanghai International Gold Exchange (SGEI). This move could be considered reasonable as numerous countries seek to reduce their reliance on the US dollar, but the renminbi is not a suitable replacement for the […]
Stanley Druckenmiller, a billionaire investor and right-hand man to George Soros, bets against the US dollar.
Stanley Druckenmiller, a billionaire investor and former right-hand man to George Soros, has made a high-conviction bet against the US dollar. He cites his negative view of US policymaking as the reason for his confidence in the move. Druckenmiller believes that the US dollar, which has already declined by 10% since its November peak, has […]