Seeds of Wisdom RV and Economic Updates Sunday Morning 7-28-24

July 28, 2024 DINARRECAPS8

Good Morning Dinar Recaps,

BRICS PROPOSAL TO LINK ALL MEMBER COUNTRY'S PAYMENT SYSTEMS

"The proposal aims to enhance BRICS countries’ financial sovereignty by establishing a resilient and sanctions-resistant payment infrastructure. Discussions include integrating financial markets, payments in national currencies, and new mechanisms for mutual financial settlements."

"Russian Deputy Foreign Minister Andrey Rudenko revealed in an interview with TASS this week. He noted Tehran’s suggestion to integrate the payment systems of BRICS countries, similar to the integration of Russia’s Mir and Iran’s Shetab electronic banking and automated payment systems."

"Rudenko emphasized that establishing a clearance and payment infrastructure independent and resilient to sanctions would significantly enhance the financial sovereignty of BRICS. However, Iran’s initiative remains under discussion, and it is premature to define any final parameters, the Russian diplomat clarified."

"This integration seeks to facilitate trade using national currencies, thereby reducing reliance on the U.S. dollar and countering U.S. sanctions. A monetary contract signed on July 6 allows the use of local currencies in trade, enhancing financial cooperation, economic resilience, and reducing dependence on Western financial systems."

@ Newshounds News™

Read more: Bitcoin News

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Donald Trump 2024 Bitcoin Conference Speech Recap:

• On day one I will fire Gary Gensler and appoint a new SEC chairman.

• Create a US Government strategic national Bitcoin stockpile if elected.

• US Government will keep 100% of Bitcoin it owns

• Bitcoin is going to the moon.

• Never sell your Bitcoin

• Bitcoin will one day probably surpass the market cap of Gold.

• I reaffirm my pledge to commute Ross Ulbricht's sentence.

• There will never be a CBDC while I am President of the United States.

• Bitcoin and crypto will skyrocket like never before if elected president.

• Bitcoin is not threatening the dollar, the current U.S. government is threatening the dollar.

• The United States will be the crypto capital of the planet and the Bitcoin superpower of the world.

• Bitcoin stands for freedom, sovereignty, and independence from government coercion and control.

• I pledge to the Bitcoin community that the day I take oath of Office, Joe Biden and Kamala Harris' anti-crypto crusade will be over.

@ Newshounds News™

Read more: Watcher Guru

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BRICS Poised to Dominate World Bank and IMF

"The World Bank Executive Director for Russia forecasts that BRICS nations will soon dominate the World Bank and the International Monetary Fund (IMF), attributing this shift to inevitable macroeconomic and demographic changes away from Western dominance. He emphasized the importance of working patiently toward this goal and resisting provocations from those upholding the old global system."

"BRICS, an acronym for Brazil, Russia, India, China, and South Africa, represents a coalition of major emerging economies. Earlier this year, the group expanded to include Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE), broadening its geopolitical and economic influence."

"The World Bank Executive Director concluded by stressing the importance of Russia’s involvement in this shift. “Russia’s voice is important here, and it would be irrational not to use those possibilities, particularly now as we observe a new world order emerging,” he stated, underscoring the necessity of adapting to the evolving global landscape."

@ Newshounds News™

Read more: Bitcoin News

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United States Senator Roger Marshall has overturned his support for the Digital Asset Anti-Money Laundering Act (DAAMLA) Bill, a legislation introduced by Democratic Party Elizabeth Warren.

"Marshall’s move to back down from the bill indicates the growing concerns about the possible overreach of regulatory actions regarding the emerging crypto market."

"The Digital Asset Anti-Money Laundering Act (DAAMLA) Bill was first introduced in December 2022 by Elizabeth Warren and co-sponsor by Roger Marshall and later reintroduced into the Senate in July 2023 to target unlawful use of crypto assets.

At the time, Warren maintained that large amounts of illegal funds were being laundered by rogue nations, oligarchs, drug lords, and human traffickers through the use of digital currencies such as Bitcoin, prompting her to move toward introducing the bill.

The legislation aimed to incorporate the cryptocurrency sector into the current frameworks for counterterrorism financing and anti-money laundering (AML)."

"Since its introduction, the law has received criticism from major figures and institutions in the industry."

"This positive development comes a few months following the Blockchain Association, a trade group representing the crypto industry in Washington D.C., efforts to debunk the DAAMLA bill. Specifically, the Blockchain Association sent out a letter in February, which marks the second time, to the House Financial Services Committee and Senate Banking Committee expressing serious concerns about the measure."

"About 80 US military, national security, and intelligence officers signed the letter. According to the Association, the law jeopardizes the strategic advantage of the US, threatening tens of thousands of employment while having minimal impact on illegal actors it targets."