DeFI News by Thebittimes.Com

Ace investor Warren Buffett announced his retirement at the age of 94 during Berkshire Hathaway’s 60th annual shareholders summit on Saturday and joined the de-dollarization bandwagon issuing a stark warning by bluntly saying that the U.S. dollar is a currency that’s “going to hell” . Warren Buffett’s statements coincide with the developing countries who are looking to sideline the U.S. dollar through the de-dollarization initiative. “We would not really invest in a currency that’s going to hell,” he said at the 60th annual shareholders summit. Also Read: De-Dollarization: Goldman Sachs Says These 3 Asian Currencies Could Take Over De-Dollarization: Warren Buffett Considers Investing in Foreign Currencies Next, Not the U.S. Dollar Source: Investopedia / Getty Images The 94-year-old Warren Buffett hinted that Berkshire Hathaway would consider investing in foreign currencies and not the U.S. dollar for better prospects, mimicking the de-dollarization trend. “There could be things happen...

Two new developing countries recently collaborated to settle trade in local currencies, not the US dollar. The collaboration comes when developing nations seek to boost regional trade that benefits their economies. This puts pressure on the US dollar as countries in Asia, Africa, and South America are putting local currencies ahead of the USD. Also Read: Donald Trump Warns of Consequences If BRICS Ditches the US Dollar US Dollar: Afghanistan & Uzbekistan Collaborate to Boost Regional Trade Source: m.akipress.com Afghanistan and Uzbekistan have collaborated to boost regional trade with major new agreements without the US dollar. The deals include the construction of the UAP Railway Project and the Termez International Trade Center. Afghanistan’s Taliban government has also increased trade with its neighbouring countries, such as Uzbekistan, Turkmenistan, and Kazakhstan. Projects like the TAPI Gas Pipeline and Trans-Afghan Corridor are growing rapidly. Also Read: Currency: Russia I...