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Iran will no longer use the US dollar in its financial and foreign exchange reporting, beginning in its new fiscal year in March. The governor of Iran's central bank, Valiollah Seif said in a televised interview on January 29th.
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Alibaba founder Jack Ma took a shot at US government priorities during an interview at the World Economic Forum in Davos, Switzerland. He told a reporter America is hurting, China is not to blame for America's economic downfall, but its own overblown military budgets.
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The bromance between the mainstream media and President Obama continues as they gave him a sky high report card on the economy right before he leaves office. In reality, he couldn't be leaving President Elect Trump a worse economy then what we see today.
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The US dollar currently makes up 2/3rds of the worlds global reserve currency. This is because nearly every oil-exporting country in the world exclusively sells their oil in US dollars (the Petrodollar), so nations are forced to hoard large amounts of US dollars, allowing the US to print it almost to infinity without hyper-inflating their currency.
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A government that robs Peter to pay Paul can always depend on the support of Paul.
- George Bernard Shaw