The king of currency, the dollar, is on shaky ground. In this past one year, there’s a growing trend of countries sidestepping the US dollar and choosing to use their own local currencies for bilateral trade.

The de-dollarisation process – moving away from trading in the dollar and instead choosing local currency – has received a boost after the Russia-Ukraine war and as Washington’s tensions with Beijing rise even further.

Unbeknown, it seems, to most people in Peru and the US (considering the paucity of media coverage in both countries), US military personnel will soon be landing in Peru. The plenary session of Peru’s Congress last Thursday (May 18) authorised the entry of US troops onto Peruvian soil with the ostensible purpose of carrying out “cooperation activities” with Peru’s armed forces and national police.

Rafael - not his real name - is a massive internet nerd. At 59 years old, he is active on all the main social media platforms, dabbles in cryptocurrencies and even calls himself an influencer.

But that is not all he does online.

Rafael is also part of a group of Venezuelans being paid by the state to tweet propaganda.

He spends at least 30 minutes a day posting pro-government content. "The aim is to amplify the information the government puts on Twitter," he explains.

Argentina is in talks to renew and potentially expand its currency swap line with China, a central bank source said on Wednesday, as the South American country battles tumbling foreign reserves that threaten its ability to meet payments.

The country has free access to some $5 billion as part of the China currency swap agreement that totals 130 billion yuan ($18.81 billion). The two countries activated the usable portion in January to help bolster Argentina's embattled peso.

Military intervention against drug cartels in Mexico should be among the options under consideration by the US government, Congressman Dan Crenshaw has argued. The Republican from Texas insisted, however, that any such operation would have to be conducted in close cooperation with the Mexican authorities.   

In an interview with TV channel FOX 26 Houston on Sunday, Crenshaw claimed that the Mexican government “does not have operational control of their side of the border.” 

Around three million people have been ordered to evacuate as huge swathes of Mexico were blanketed in dust by the Popocatépetl volcano, which has also delayed flights and caused schools to close. 

Mexican authorities on Sunday raised the warning level for the Popocatepetl volcano to one step below red alert as smoke, ash and molten rock spewed into the sky posing risks to aviation and far-flung communities below.

The huge volcano that towers above Mexico City is considered one of the most dangerous in the world because some 25 million people live within a 60-mile radius.

The president of Venezuela, Nicolas Maduro, said on his weekly “Con Maduro +” program earlier this week that Venezuela will shift away from using the U.S. dollar in trade. Commending Zimbabwe for its initiative to issue gold-backed digital currency, he said (as translated from Spanish by Google):