By Syed Zafar Mehdi
The dollar system is under unprecedented strain, largely due to the behavior and actions of the United States itself, says a world-renowned economist.
In an interview with the Press TV website, Paulo Nogueira Batista Jr., a Brazilian economist and former Executive Director at the International Monetary Fund (IMF), noted that the dollar has been weaponized by the United States.
"It (US dollar) is no longer seen by many as a safe haven. Moreover, the fragilities of the US economy also undermine trust in the dollar," said Batista Jr., who was one of the founding members of the New Development Bank (NDB) in Shanghai.
"In my view, the most probable scenario is the continuation of a gradual decline in the dollar. This decline may be accelerated if a new major financial crisis occurs in the US."
The process of de-dollarization has gained significant momentum in recent years with the emergence of new regional alliances such as BRICS, led by China and Russia.. more below
US Army Secretary Dan Driscoll is preparing to leave the Trump administration after what a new report has described as months of tension with Secretary of War Pete Hegseth, potentially triggering another change at the army’s top echelons.
According to the Friday report by The Wall Street Journal, Driscoll is expected to step down before the end of the year and could leave his post earlier. The newspaper cited people familiar with discussions over his departure.
The Journal reported that Driscoll and his family vacated the official residence assigned to the army secretary at Joint Base Myer-Henderson Hall this summer, a move that could indicate he was preparing to leave the position.
The reported departure would come at a time of continuing uncertainty at the top echelons of the army.
Hegseth abruptly removed Army Chief of Staff Gen. Randy George in April, while Trump has not yet nominated a permanent successo....more below
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The Islamic Revolution Guards Corps (IRGC) warns the enemies that any act of aggression against the Islamic Republic will not go unanswered.
In a statement on Thursday, the IRGC issued a “stern warning” to the enemies after US forces launched strikes against the southern Iranian port city of Bandar Abbas.
Following the US military attack on a point on the outskirts of Bandar Abbas Airport with aerial projectiles, the IRGC carried out new strikes targeting the US air base from which the attack originated in the wee hours of Thursday, it added.
“This response is a serious warning to the enemy that they should know the act of aggression will not go unanswered,” the IRGC emphasized.
The elite military force warned of a “more decisive” response if the enemy repeated any act of aggression.
It also said the responsibility for the consequences of any IRGC response lies with the aggressor.
The statement comes after the IRGC Navy on Thursday forced an American tanker to turn back. The tanker ...
