The Economy is Officially Shrinking

The Economy is Officially Shrinking

Heresy Financial:  5-3-2025

The news is in: the Gross Domestic Product (GDP) has turned negative, signaling an official economic contraction.

This isn’t just a headline; it’s a seismic shift impacting every facet of our financial lives. Heresy Financial unpacks the situation, revealing what’s truly happening and what smart investors should do next.

While the negative GDP figure grabs headlines, understanding its nuances is crucial. Many interpret this solely as a recessionary indicator, but the reality is more complex.

The headline figure masks underlying factors, often overlooked in simplistic pronouncements of economic doom. A deeper dive is necessary to understand the contributing factors and their potential long-term effects.

Many analyses focus solely on the immediate impact of the negative GDP, neglecting the broader context. Common misconceptions include oversimplifying the relationship between GDP and individual financial wellbeing, failing to account for diverse economic sectors, and ignoring the influence of global events on the domestic economy.

Heresy Financial stresses the importance of looking beyond the single data point and considering a holistic view of the economic landscape.

Global trade dynamics, particularly the impact of tariffs and trade wars, play a significant role in the current economic downturn. These policies disrupt supply chains, increase costs for businesses and consumers, and contribute to overall economic uncertainty.

Understanding the ripple effects of these international trade policies is critical to forecasting future economic trends.

Inflation’s corrosive effect on purchasing power is often underestimated. While rising prices are acknowledged, the full extent of their influence on consumer spending, business investment, and overall economic growth is frequently overlooked. Heresy Financial emphasizes the necessity of factoring in the real impact of inflation, adjusted for purchasing power, rather than relying solely on nominal GDP figures.

The role of government spending in the current economic climate is highly debated. While some argue that increased government spending can stimulate economic activity, others contend it can exacerbate existing problems, leading to inflation and unsustainable debt levels. Heresy Financial delves into this complex issue, examining the potential benefits and drawbacks of government intervention, considering the specific context and potential unintended consequences.

The current economic contraction demands careful consideration and a strategic approach. By understanding the complexities beyond the headline figures and taking proactive steps, investors can navigate the turbulent waters and potentially emerge stronger in the long run.

 The insights offered by Heresy Financial provide a crucial framework for making informed decisions in these challenging times.

https://youtu.be/5dbjMUKMY6g

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 5-3-25

Good Afternoon Dinar Recaps,

BRICS 2025 SUMMIT COULD BE GAME-CHANGER FOR THE US DOLLAR

Just months into 2025, geopolitical tensions are shaking global markets — especially between the US and the BRICS economic alliance. As a result, the upcoming BRICS 2025 Summit may prove to be a turning point for the US dollar.

For years, BRICS nations have pursued de-dollarization, aiming to reduce reliance on the greenback. With the US leaning into America-first trade policies and further weaponizing the dollar, the bloc’s resolve may now be firmer than ever.

Why the BRICS 2025 Summit Matters

The annual BRICS summit has become the alliance’s most critical platform for economic coordination. Past gatherings have focused on:

• Expanding membership

• Developing alternative currency mechanisms

This year’s summit — dubbed the “Rio Reset” — is expected to be the most pivotal yet, particularly as Brazil holds the BRICS chairmanship and pushes for redefining global currency norms.

According to Birch Gold Group, the summit is “rumored to be a significant monetary development that will disrupt the dollar-based global financial system.”

“I’m convinced BRICS will make history this summer,” says analyst Peter Reagan.

Pressure on the US Dollar Builds

Since President Donald Trump’s return to office, his administration has introduced tariffs and protectionist policies, prompting the US dollar to fall 10% in just his first 100 days.

Without new trade deals, continued depreciation of the dollar seems likely. This only strengthens BRICS’s incentives to push forward with currency diversification and new international monetary tools.

@ Newshounds News™
Source:  Watcher Guru

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ANALYSIS: RIPPLE MAKES BID FOR STABLECOIN ISSUER CIRCLE – REPORT

Earlier this week, Bloomberg reported that Ripple made a $4–$5 billion bid for Circle, the issuer of the USDC stablecoin. Circle rejected the offer, viewing it as too low. This comes as Circle filed for an NYSE listing earlier this month.

Despite generating $1.67 billion in 2024 revenue, Circle earned just $156 million in profit, due to 60% of revenue being paid out to distributors, especially Coinbase.

Why Ripple Wants Circle

Ripple’s interest makes strategic sense. It recently launched its own stablecoin, RLUSD, which just passed $300 million in market cap. By contrast, Circle’s USDC stands at $61 billion. Both aim at institutional markets, creating a major overlap in target audience.

Moreover, Ripple is cash-rich. It holds:

• 4.5 billion XRP outright (worth ~$10 billion),

• 38 billion XRP in escrow,

• Plus, it committed $1.25 billion to acquire prime broker Hidden Road.

XRP’s Speculative Valuation

Ripple's XRP holdings enable large acquisitions, but its price is highly speculative:

• XRP’s market cap is ~58% of Ethereum’s.

• Yet, Ethereum has ~20x more daily active users (~465k vs. XRP’s ~23k).

• Developer activity and ecosystem growth also heavily favor Ethereum.

So while it’s a good time to spend XRP, any acquisition requiring the recipient to hold XRP carries pricing risk.

Circle’s Institutional Edge

Circle is deeply entrenched in institutional finance:

• Partners with BlackRock to manage reserves,

• Custody by BNY Mellon,

• Recently linked to stablecoin collateral for listed derivatives,

• Favored in CFTC tokenized collateral pilots.

Ripple, although a late entrant, wants in. It already:

• Acquired Metaco ($250M) for custody solutions,

• Worked with emerging market CBDC pilots,

• Serves institutional cross-border payments.

Why Circle Rejected the Offer

Circle is pursuing an IPO expected to value it around $4–$5 billion, the same range as Ripple’s offer.

But:

• Founders retain Class B shares with 5x voting power,

• CEO Jeremy Allaire has IPO experience (sold Allaire Corp to Macromedia),

• This IPO is a launchpad—not an exit.

Given Circle’s years of pivots (e.g., Poloniex acquisition, Circle Pay wallet) and the long road to USDC’s success, a $5B sale isn’t attractive, especially if paid partly in volatile XRP.

Bottom Line

Ripple’s bid is strategically sound, but to succeed, it may need to significantly raise the offer — and reduce XRP exposure for any future acquisition deal.

@ Newshounds News™
Source:  Ledger Insights

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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

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Follow the Timeline 

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Thank you Dinar Recaps

News, Rumors and Opinions Saturday 5-3-2025

Something is Unfolding Behind Closed Doors

589bull:  5-3-2025

Something is unfolding. Not in the headlines—but behind closed doors.

Vaults are opening.
Systems are failing.
Players are being exposed.

Behind the scenes:

• A hostile entrance into the Federal Reserve
• An invisible war over the monetary future
• The collapse of a regime that ruled in silence for a century
• And the rise of a system built on truth, speed, and sovereign value

Musk. Ripple. Treasuries. Tokenized power. This is global reckoning.

You’re watching history before it’s public.

CHAPTER ONE: The Vault Coming soon.

Gold Telegraph: BBREAKING NEWS BILLIONAIRE ELON MUSK IS CONSIDERING SENDING HIS GOVERNMENT EFFICIENCY TEAM TO THE FEDERAL RESERVE

Great news. @elonmusk What about the livestream of Fort Knox?

If Ripple really buys out Circle, that’s a serious power move. Not just adding a stablecoin—but absorbing a key piece of the new financial system.

USDC already has regulatory traction. XRP already has the rails. Put them under one roof and you’ve got real-time liquidity, settlement, and compliance handled without touching legacy systems.

No more partnerships. No more waiting.

Ripple’s locking down everything that matters before the switch flips.

XRP isn’t just a token in this scenario. It’s leverage. Strategic as it gets.

Source(s):
https://x.com/589bull10000/status/1918295977414336717
https://x.com/589bull10000/status/1918305522287002057

https://dinarchronicles.com/2025/05/03/589bull-something-is-unfolding-behind-closed-doors/

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Bruce  [via Judy Byington]  Everything was triggered to start...Thurs. 1 May...The latest information was that Tier4b (us, the Internet Group) notifications should come out over the weekend, with appointments starting on Tues. 6 May. All exchanges are to be finished by Sat. 31 May 2025.

Frank26  We're looking for the blessing to occur.  I'm looking for it IMO in 2 weeks to 2 months.

Militia Man  If Iraq is going to make an adjustment to her exchange rate it's going to have an impact on her neighbors.  They're going to need to know what's going on.  

Frank26  They are constantly hinting of a new exchange rate but with all sincerity, enough is enough. Release the kraken man!

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Central Banks Driving the World into Crisis with G. Edward Griffin

WTFinance:  5-2-2025

On this episode of the WTFinance podcast I have the pleasure of welcoming on G.Edward Griffin.

G.Edward is the author of the “Creature from Jekyll Island”. During our conversation we spoke about the creation of the FED, the goals of the Federal Reserve, concentration of wealth, their true purpose and more. I hope you enjoy!

0:00 – Introduction

 1:48 - Creature from Jekyll Island

 16:50 - Goals of Federal Reserve

 20:37 - Concentration of wealth

22:55 - Inevitable issue?

30:07 - One message to takeaway?

https://www.youtube.com/watch?v=-Uhq_e1o054

“Tidbits From TNT” Saturday 5-3-2025

TNT:

Tishwash:  Iraq seeks to strengthen long-term economic partnership with Brazil

On Thursday, Minister of Commerce Athir Al-Ghurairi discussed ways to strengthen the economic and trade partnership with Brazil, signing a contract with his Brazilian counterpart, Geraldo Alckmin, during his visit to the country.

Al-Ghariri said in a statement received by Al-Akhbari: "The government is keen to expand cooperation with Brazil and strengthen economic partnerships with them."

He added that "the possibility of supplying the Brazilian side with shipments of Iraqi oil was discussed, within the framework of bilateral cooperation and meeting the Brazilian market's energy needs," stressing "the importance of building a long-term strategic partnership based on shared interests and mutual opportunities."

The Minister of Trade affirmed "Iraq's readiness to provide all possible facilities to Brazilian investors," calling for "the organization of a comprehensive exhibition of Brazilian industries in Baghdad to serve as a platform for promoting Brazilian products and expanding the base of trade and investment cooperation."

He pointed out that "there are significant opportunities, supported by sovereign guarantees provided by the Iraqi government to Brazilian companies, to encourage real partnerships with the Iraqi private sector."  link

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Tishwash:  A representative reveals the reason for the government's withdrawal of tax funds: The US Federal Reserve has stopped transferring funds to Iraq.

Iraqi parliament member Dr. Raed Hamdan al-Maliki described the United States' control over the transfer of Iraqi oil export revenues as "the greatest violation of the country's sovereignty," calling on the Iraqi government to tell the truth to the people.

In a tweet on his official X (formerly Twitter) account, followed by Iraq Observer, Maliki said that the government's withdrawal of tax funds and their use to cover operating expenses was due to the US Federal Reserve's suspension of oil revenue transfers.

He added, "It appears that the government's reason for withdrawing tax trust funds and using them to cover operating expenses is due to the US Federal Reserve's suspension of the transfer," referring to US measures restricting the movement of Iraqi funds held in international bank accounts.

Al-Maliki called for an end to this situation, saying, “This matter must end, and the government must tell the people the truth.”

The Council of Ministers had previously, in an official decision, authorized the Minister of Finance to withdraw tax deposits less than five years old to finance and pay salaries for April and subsequent months.  

The Ministry of Finance is scheduled to deposit the amount later, as needed, for the state's total. Cash settlements will be made monthly upon request by reversing the deposit amount from the actual monthly revenues collected when conducting tax accounting, according to the decision. link

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Tishwash:  Your deposits are safe: Iraq clarifies bank withdrawals

Iraq’s Finance Ministry dismissed allegations that recent withdrawals from state-owned banks involved citizen deposits, stressing that the transactions used sovereign funds and were carried out in line with federal budgetary procedures.

The ministry clarified in a statement that the funds withdrawn from Al-Rafidain and Al-Rasheed banks were held temporarily for “operational purposes” and reallocated according to administrative and financial instructions tied to the national budget.

The statement followed accusations by several lawmakers, local media outlets, and social media figures alleging that the government had accessed trillions of dinars from public deposits to address fiscal pressures. Some critics drew parallels to foreign banking collapses, prompting concerns over Iraq’s financial stability.

“These funds are not linked to individual accounts or depositors’ savings,” the ministry stated, rejecting the comparisons as “inaccurate and misleading.” It emphasized that Iraq’s banking sector operates under a distinct legal framework and is regulated by the Central Bank, which enforces strict compliance and governance measures.

Officials reported that Al-Rafidain and Al-Rasheed remain financially stable, continuing to disburse salaries, finance public projects, and fulfill obligations to clients. Al-Rafidain Bank holds approximately 9 trillion Iraqi dinars ($6.9B) in legal reserves with the Central Bank.

A document dated April 24 confirmed Al-Rafidain held 4.277 trillion dinars ($3.3B) in unused reserves and 4.263 trillion ($3.25B) in used reserves—totaling over 8.54 trillion dinars ($6.52B)—all of which remain intact, according to the ministry.

Addressing earlier embezzlement incidents, the ministry attributed those cases to prolonged dormancy in escrow accounts, which had been exploited by corrupt networks, noting that new oversight procedures had been introduced in coordination with state banks to strengthen controls and mitigate risks.

The ministry warned that continued dissemination of false claims could damage public confidence and distort perceptions of recent economic progress, highlighting that Iraq’s fiscal reforms and improved transparency had received praise from international institutions, contributing to better credit ratings and increased investor engagement.

Reaffirming its economic policy direction, the ministry called on media professionals and social media users to verify claims and act responsibly. “All official data remains accessible for professional and public review through the ministry and banking channels.”  link

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Mot:  The History of Cinco de Mayo......... ((( What YOu Didnt Learn in History Class ))) .

Did you know that back in 1912, Hellmann's Mayonnaise was manufactured in England. In fact, the Titanic was carrying 12,000 bottles of the condiment scheduled for delivery in Vera Cruz, Mexico, which was the next port of call for the great ship after its stop in New York. This would have been the largest shipment of mayonnaise ever delivered to Mexico.

The ship hit an iceberg and sank.

The people of Mexico, who were crazy about mayonnaise, and were eagerly awaiting its delivery, were disconsolate at the loss. Their anguish was so great they declared a National Day of Mourning.

The National Day of mourning occurs each year on May 5th and is known, of course, as - SINKO DE MAYO.

WHAT??? You expected something educational from me?

You need a shot of Tequila!

Seeds of Wisdom RV and Economic Updates Saturday Morning 5-3-25

Good Morning Dinar Recaps,

ARIZONA GOVERNOR VETOES BILL TO MAKE BITCOIN PART OF STATE RESERVES

Arizona’s plan to invest in Bitcoin has ended in a veto, with Governor Katie Hobbs citing concerns over using public funds for "untested assets."

Arizona Governor Katie Hobbs has vetoed a bill that would have allowed the state to hold Bitcoin as part of its official reserves, effectively ending efforts to make Arizona the first US state to adopt such a policy.

The Digital Assets Strategic Reserve bill, which would have permitted Arizona to invest seized funds into Bitcoin and create a reserve managed by state officials, was formally struck down on Friday, according to an update on the Arizona State Legislature’s website.

“Today, I vetoed Senate Bill 1025. The Arizona State Retirement System is one of the strongest in the nation because it makes sound and informed investments,” Hobbs wrote in a statement aimed at Warren Petersen, the President of the Arizona Senate.

“Arizonans’ retirement funds are not the place for the state to try untested investments like virtual currency,” she added.

On April 28, the bill passed a final vote in the state House when 31 members of the Arizona House voted in favor of the bill, with 25 opposing.

Hobbs had previously stated she would veto any legislation not tied to a bipartisan agreement on disability funding.

Another Bitcoin awaits final vote

A companion bill, SB1373, which would authorize the state treasurer to allocate up to 10% of Arizona’s rainy-day fund into digital assets like Bitcoin, has not yet reached a final vote.

Arizona joins several other states where similar efforts have failed. In recent months, similar proposals in Oklahoma, Montana, South Dakota and Wyoming have stalled or been withdrawn.

In contrast, North Carolina’s House passed the Digital Assets Investment Act on April 30, allowing the state treasurer to invest up to 5% of certain funds in approved cryptocurrencies. The bill has now been moved to the state Senate for consideration.

The state-level efforts to create Bitcoin reserves come amid a push from US President Donald Trump and Republican lawmakers to do the same in the federal government.

Trump signed an executive order in March with a proposal for a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile.”

@ Newshounds News™
Source:  CoinTelegraph

~~~~~~~~~

UK REGULATOR PROPOSES BAN ON BUYING CRYPTO WITH CREDIT CARDS

The UK's financial regulator is considering a ban on buying crypto with credit, and also mulling outlawing crypto lending and borrowing platforms.

▪️The UK's Financial Conduct Authority has proposed banning the use of credit to purchase crypto assets.

▪️The regulator is accepting comments on the rule from the public until June 13.

Britain’s top financial regulator has proposed banning the purchase of cryptocurrency with any sort of borrowed funds, including credit cards.

A new discussion paper from the UK’s Financial Conduct Authority floated a plan this week to outlaw crypto firms from allowing British customers to buy crypto assets with a credit card. The proposed rule would also ban the purchase of crypto with any other form of credit, including loans and digital currency credit lines.

The move appears largely driven by the regulator’s concern that UK adults are going into debt to buy crypto, a “risky” practice, given the inherent volatility of digital assets.

Britain’s top financial regulator has proposed banning the purchase of cryptocurrency with any sort of borrowed funds, including credit cards.

A new discussion paper from the UK’s Financial Conduct Authority floated a plan this week to outlaw crypto firms from allowing British customers to buy crypto assets with a credit card. The proposed rule would also ban the purchase of crypto with any other form of credit, including loans and digital currency credit lines.

The move appears largely driven by the regulator’s concern that UK adults are going into debt to buy crypto, a “risky” practice, given the inherent volatility of digital assets.

We are concerned that consumers buying crypto assets with credit may take on unsustainable debt, particularly if the value of their crypto asset drops and they were relying on its value to repay,” the FCA said.

A YouGov survey recently commissioned by the Authority found that 14% of UK crypto users reported using credit to buy digital assets in August 2024. That figure marked a 133% uptick from two years prior.

The proposal, if passed, would not necessarily impact all crypto assets, however. The FCA said that stablecoins authorized by its regulatory regime would likely be exempt from the credit ban.

@ Newshounds News™
Source:  Decrypt

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Thank you Dinar Recaps

Fed Panics: New Silver & Gold Laws Threaten Control

Fed Panics: New Silver & Gold Laws Threaten Control

Daniela Cambone:  5-2-2025

We’re seeing more and more states actively participate in a monetary renaissance,” says JP Cortez, Executive Director of the Sound Money Defense League.

He speaks with Daniela Cambone about how different U.S. states are making moves to support sound money by getting rid of taxes on gold and silver and recognizing them as legal tender again.

Wyoming, Idaho, and Alabama are a few standout examples of these efforts.

“Politicians tend to see dollar signs and don’t understand the constitutional or historical reasons why gold and silver shouldn’t be taxed,” Cortez points out.

 He also weighs in on the recent power outage in Spain, highlighting why depending only on digital money can be risky during a crisis.

Key facts:

2025 has seen significant progress in sound money adoption.

Leading states: Wyoming, Idaho, Alabama Challenges in implementing sound money legislation

Why are politicians reluctant to adopt sound money?

Spain’s blackout highlights the risks of relying on digital money.

Chapters:

 00:00 – Tax Reforms on Gold and Silver

4:39 – State-by-State Sound Money Rankings

6:20 – The Rise of the Sound Money

7:31 – Can the Fed Stop Sound Money?

9:24 – Utah's Leadership in Sound Money Adoption

 12:30 – Spain Power Outage

17:22 – The Growing Problem of National Debt

18:51 – End the Fed

https://www.youtube.com/watch?v=72eGXwkw1O0

Seeds of Wisdom RV and Economic Updates Friday Afternoon 5-2-25

Good Afternoon Dinar Recaps,

BITCOIN IS A MATTER OF NATIONAL SECURITY — DEPUTY CIA DIRECTOR

Deputy CIA director Michael Ellis' comments reflect Bitcoin's maturation as an asset but conflict with the cypherpunk philosophy.

The US Central Intelligence Agency is increasingly incorporating Bitcoin as a tool in its operations, and working with the cryptocurrency is a matter of national security, Michael Ellis, the agency’s deputy director, told podcast host Anthony Pompliano.

In an appearance on the market analyst and investor’s show, Ellis told Pompliano that the intelligence agency works with law enforcement to track BTC, and it is a point of data collection in counter-intelligence operations. Ellis added:

"Bitcoin is here to stay — cryptocurrency is here to stay. As you know, more and more institutions are adopting it, and I think that is a great trend. One that this administration has obviously been leaning forward into."

"It's another area of competition where we need to ensure the United States is well-positioned against China and other adversaries," Ellis said.

Although Ellis's comments point to Bitcoin maturing as an asset, they also reflect the increased involvement of governments and institutions, which runs contrary to the libertarian and cypherpunk ethos originally inherent in crypto.

Bitcoin: from cypherpunk experiment to state reserve asset

US President Donald Trump signed an executive order establishing a Bitcoin Strategic Reserve on March 7, to mixed reactions from the Bitcoin community.

Bitcoin Magazine CEO David Bailey celebrated the move, while Venice AI founder and BTC advocate Erik Vorhees warned against government ownership of Bitcoin but added that if the US government is to adopt any crypto reserve, it should be Bitcoin-only.

Concerns that cryptocurrencies have lost their cypherpunk roots predate the current market cycle and any strategic reserve legislation or comprehensive regulatory frameworks for digital assets.

In March 2020, Therese Chambers, the former director of retail and regulatory investigations at the UK’s Financial Conduct Authority (FCA), argued that cryptocurrencies had become increasingly financialized and institutionalized.

Chambers added that digital assets were behaving far more like traditional financial instruments than the privacy-preserving tools they were initially billed as.

@ Newshounds News™
Source:  CoinTelegraph

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CAPITOL CRYPTO: CONGRESSMAN PROPOSES BITCOIN ATMS IN GOVERNMENT FACILITIES

A Texas Republican congressman has proposed installing cryptocurrency ATMs in United States federal buildings. Rep. Lance Gooden wrote a May 1 letter to Stephen Ehikian, who is presently acting administrator for the General Services Administration (GSA), news reports said.

Trump Ally Frames Proposal As “Educational Resource”

Gooden, one of the president’s well-known Republican allies, recommended in his letter that installing crypto ATMs in government buildings would be an “educational resource” for the public.

He requested that the GSA start exploring guidelines and regulations necessary for installing such machines on federally owned properties across the country.

Public documents filed with the House of Representatives indicate Gooden has not declared any cryptocurrency investment or ATM firms since being elected in 2019. There are no reported financial disclosures in public records available for the Texas representative as of 2025.

Authority Questions Unanswered

The GSA regulates and manages government-owned properties. Although its website states that it can offer space for federal credit union ATMs, it is not certain if Ehikian can extend these regulations to digital asset ATMs provided by private companies.

Reports suggest Ehikian, who was sworn in by US President Donald Trump, may not have a mandate to introduce these types of ATMs without consent from Congress. Reports also disclose that the finances for such an endeavor may demand an act of Congress.

President’s Crypto Connections Raise Questions

Meanwhile, Trump has extensive engagement with digital coins and asset firms across multiple avenues. These range from his individual investments, presidential campaign accounts, family-backed enterprises, and the TRUMP meme coin.

Trump reportedly hosted a dinner in Washington, DC in April for the leading holders of his meme coin. This link creates questions regarding potential policy influences related to cryptocurrency infrastructure in government buildings.

 Senate Considers Tougher Crypto ATM Regulations

Gooden’s bill comes as legislators in the Senate are considering bills to combat fraud using digital currency ATMs. Last February, Illinois Senator Dick Durbin introduced the Crypto ATM Fraud Prevention Act with the goal of establishing “common sense guardrails” against scams that have hurt many elderly Americans.

The timing provides a telling contrast between Gooden’s initiative to expand access to crypto technology and Durbin’s push for more protection from possible abuse of the same systems.

This brings to the fore the debate surrounding how to achieve a balance between innovation and consumer protection in the world of cryptocurrencies.

@ Newshounds News™
Source:  Bitcoinist

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Thank you Dinar Recaps

More News, Rumors and Opinions Friday Afternoon 5-2-2025

Gold Telegraph: The World has Quietly Lived through a Monetary Revolution

5-2-2025

Over the past 55 years, the world has quietly lived through a monetary revolution.

What began in 1971 as a “temporary” suspension of the dollar’s convertibility into gold, declared by President Nixon… became a permanent departure from Bretton Woods, replacing gold-backed stability with a floating fiat experiment tied to oil:

The petrodollar.

It was never meant to last.

Even Paul Volcker, who helped design the suspension, believed it would be short-lived.

Instead, it became the foundation of today’s system… a system that has fueled an unprecedented explosion of global debt and left nations at the mercy of a currency no longer anchored to anything real.

We’re living inside a monetary experiment… and history shows these always end the same way.

People know my position, I have been clear about it for years.

But a new article is on the way, unpacking Scott Bessent’s latest comments and the shifting role of the petrodollar.

The U.S. dollar is the current anchor of the international monetary system.

But think about this:

Nations are propping up a currency that holds immense privilege, yet that anchor has become a weapon.

It can freeze your sovereign assets, crush your economy, and finance itself through unlimited money printing… all while sitting on a mountain of record-breaking debt.

Do you think the majority of nations are happy about this?

The United States Treasury Secretary says bond yields are signaling it’s time for the Federal Reserve to cut rates. This is getting very entertaining.

BREAKING NEWS: JAPAN’S FINANCE MINISTER SAID THAT THE COUNTRY’S US TREASURY HOLDINGS COULD BE A CARD IN ITS TRADE NEGOTIATIONS

Boom. There it is… Nobody should act surprised.

“It does exist as a card, said Kato, speaking on a TV Tokyo program Friday. Whether or not we use that card is a different decision…”

Source: https://www.bloomberg.com/news/articles/2025-05-01/japan-s-kato-says-us-treasury-holdings-could-be-negotiation-card

Former Treasury Secretary and Fed Chair Janet Yellen has joined the advisory board of a climate-focused venture capital firm. You can’t make this stuff up. The jokes write themselves.

The largest foreign holder of U.S. Treasuries just signalled it might weaponize its $1 trillion stockpile in trade talks. This is a big warning s**t. This should be the day’s biggest story, but many are just glossing over it.

Source(s):
https://x.com/GoldTelegraph_/status/1918046910482620473
https://x.com/GoldTelegraph_/status/1918050360381563342
https://x.com/GoldTelegraph_/status/1918056427849171155

https://dinarchronicles.com/2025/05/01/gold-telegraph-the-world-has-quietly-lived-through-a-monetary-revolution/

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26   [Iraq boots-on-the-ground report]  FIREFLY:  Mr Sammy says Alaq is the man.  He was brought back to Iraq to run the CBI...And he was brought back to control the rate.  He worked with Shabibi before his health went bad.  Alaq knows the plan... FRANK:  Thank you Mr. Sammy.  I'm going to give in because you guys are there.  He will release the new exchange rate therefore he's in control but he will release it when it is given to him.  FIREFLY:  ...That's why they [Parliament] have tried for so long to get Alaq out of his job.  They know he's working on changing the rate.

Militia Man  What we have seen so far in the news is...all positive, nothing that's considered to be worrisome as far as I can see.  The tone from Washington has been positive.  They've been talking about support...for Iraq's monetary reforms by the largest financial institutions in the world - United States Treasury, Federal Reserve, International Monetary Fund, World Bank, IFC.  The focus has been about security, stability, sustainability, partnerships with the public and private sectors, investment opportunities...  

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1st July - Gold Liberation Day - LFTV Ep 221

Kinesis Money:  5-2-2025

In this week’s Live from the Vault, Andrew Maguire breaks down gold’s recent sharp rise and fall, exposing how short-term volatility is engineered through unbacked US paper markets — now facing a reckoning as Basel III enforcement draws near.

 As China steps up physical gold acquisition and global FX markets eclipse COMEX in both credibility and scale, July’s compliance deadline threatens to shift gold’s pricing power eastward, marking a structural break from Western dominance.

Timestamps:

00:00 Start

00:43 Andrew unpacks gold’s round trip and the 1st July Basel III deadline

14:05 Gold charts: Andrew’s short-term outlook and market direction

25:05 Why COMEX is rapidly losing control over gold price setting

29:48 China’s open gold strategy & Trump: who has the gold makes the rules!

36:30 Bullish signals in gold and silver - what’s driving sentiment?

https://www.youtube.com/watch?v=CNNNmKydlQU

RV Thoughts From 589Bull 5-2-2025

This is Bretton Woods 2.0 but Silent

589bull:   5-2-2025

JUST IN: Trump says Treasury Secretary Scott Bessent is negotiating new trade deals with 200 countries.

There aren’t even 200 countries—so what’s really going on? This isn’t a trade update. This is a signal: the U.S. is rebooting the global financial system.

Scott Bessent isn’t a bureaucrat. He’s a former Soros lieutenant turned nationalist asset manager. Now he’s at the Treasury, shaking hands with the planet—and writing a new playbook.

Trade deals = cover.
Monetary realignment = mission.

Expect this to include:
• Commodity-backed agreements
• Gold-denominated settlement layers
• Currency revaluations (IQD, VND, etc.)
• Digital rails for cross-border payments
• A new U.S.-anchored FX standard

This is Bretton Woods 2.0… but silent.

Trump isn’t bluffing. He’s locking the U.S. into 200 bilateral levers for liquidity control. You’re watching the scaffolding of a new world economy being bolted together in real time. The headlines won’t say it.

But we see it.

Source(s):
https://x.com/589bull10000/status/1917984083528831108

https://dinarchronicles.com/2025/05/01/589bull-this-is-bretton-woods-2-0-but-silent/

What’s the Rate Gonna be?

589bull:   5-2-2025

Everyone always asks: “What’s the rate gonna be?”

I usually don’t go there, but with everything we’re seeing—the coordination, the U.S. banking moves, the Fed delays—it’s worth laying it out.

Here’s a breakdown of what’s possible, from conservative to bullish:

Conservative Range:
$0.01 – $0.10 USD per IQD

Would be framed as a “managed float” or gradual revaluation. Helps Iraq slowly restore trust in the currency. Fits IMF-style baby steps. But honestly? Doesn’t match the intensity of what we’re seeing right now.

Mid-Range (Realignment):
$0.30 – $0.50 per IQD

This range is more realistic if Iraq is re-entering Forex with intent. Backed by oil, gold reserves, strong budget activity, and trade growth. Also high enough to shift regional dynamics, but low enough to stabilize.

Bullish Range:
$1.00 – $3.00 per IQD

This would be a full-blown reset play. Parity with the dollar or higher. Symbolic. Strategic. Global. Would explain why the U.S. is micromanaging liquidity, timing, and banking integrations.

Could it go higher? Only under a controlled redemption window or tiered payout model. We’re talking geopolitical restructuring, asset backing, BRICS pushback, and U.S. leverage in play.

But to be clear: anything over $3 would require a system the public hasn’t fully seen yet.

Final thought: You don’t build this much coordination just to bump from 1310 to 1190. This feels bigger—and whatever the number is, it’s gonna shock a lot of people.

So yeah, I usually don’t guess. But right now? Feels like time to pay attention.

Source(s):
https://x.com/589bull10000/status/1918047681156382785

https://dinarchronicles.com/2025/05/01/589bull-whats-the-rate-gonna-be/

Seeds of Wisdom RV and Economic Updates Friday Morning 5-2-25

Good Morning Dinar Recaps,

US CONGRESS SEEKS TO END THE PENNY BY INTRODUCING THE COMMON CENTS ACT

The ‘Common Cents’ Act, which has bipartisan support, seeks to end the production of the $0.01 coin, commonly known as the cent, as its production and distribution costs exceed its face value. Representatives Lisa McClain and Robert Garcia, along with Senators Cynthia Lummis and Kirsten Gillibrand, are behind this proposal.

Common Cents Act Gets Introduced to Stop Penny Production

The U.S. Congress will consider ending the production of the $0.01 coin, commonly known as the penny, to combat government inefficiency. A proposal called the ‘Common Cents Act’ seeks to eliminate the production of the cent coin to reduce government spending on a coin that is no longer widely used.

Introduced by a bipartisan group of lawmakers, including Representatives Lisa McClain and Robert Garcia, as well as Senators Cynthia Lummis and Kirsten Gillibrand, the act would direct the Secretary of the Treasury to cease production of one-cent coins for regular use.

However, special issuances for coin collectors would still be allowed, provided the sale price of the coin ‘equals or exceeds the total cost of production, including variable costs and the appropriate share of fixed costs.’

Additionally, the bill proposes rounding prices to the nearest five cents, a resolution adopted by several countries implementing similar reforms. This would enable people to complete all cash payments without issue.

Senator Cynthia Lummis highlighted the wasteful spending that the U.S. Mint executes with the issuance of each penny. Lummis stated:

The fiscal reality is undeniable: the U.S. Mint spends three cents to produce each one-cent coin. With a $36 trillion national debt, we have to implement meaningful opportunities to reduce costs, update our currency system, and codify the elimination of government inefficiencies. It just makes cents!

In February, President Donald Trump decided to end the production of the penny, assessing that the whole operation was “wasteful.” Nonetheless, experts stated that this decision was not his to make, as Congress is the institution that dictates the specifics of coin production.

Analysts expect Trump to tackle nickel production in the future, as it is also produced at a loss.

@ Newshounds News™
Source:  Bitcoin News

~~~~~~~~~

COULD XRP ETF APPROVAL BE NEAR? RIPPLE TO MEET SEC CHAIR PAUL ATKINS ON MAY 2

As positive shifts in cryptocurrency regulation unfold under President Donald Trump’s second administration, speculation is mounting regarding the potential approval of spot XRP ETF applications.

This anticipation is fueled by significant changes at the US Securities and Exchange Commission (SEC), particularly the appointment of Paul Atkins as the new chair. Known for his pro-crypto stance, Atkins represents a departure from the stringent regulatory environment established by former chair Gary Gensler.

Speculation Rises Around XRP ETF Applications

The timing of a possible XRP ETF approval is further ignited by reports of a potential meeting between Ripple Labs’ executive chairman and co-founder Chris Larsen and SEC Chair Paul Atkins. Such discussions could pave the way for expedited decisions on XRP ETF applications.

Earlier this week, Bitcoinist highlighted that the SEC has set a new deadline of June 17, 2025, for either approving or disapproving the XRP ETF application submitted by asset manager Franklin Templeton or initiating further proceedings to assess the proposal.

Bloomberg ETF expert James Seyffart has indicated that while the June deadline is crucial, market participants should prepare for a series of decisions expected in the fourth quarter of 2025.

However, Bloomberg’s ETF expert specifically pointed to mid-October—around the 18th of this year—as a pivotal date for a potential spot XRP ETF decision by the regulatory body.

Ripple Labs Sees Renewed Hope

Adding to the excitement, crypto investor Steph Is Crypto recently shared on social media site X (formerly Twitter), that insiders suggest the meeting between Larsen and Atkins, reportedly scheduled for May 2, could bring the approval of XRP ETF applications closer to reality. However, as of Thursday, no official confirmation or statements have been released by either party, leaving this scenario uncertain.

The ongoing speculation for XRP ETF applications come amid a more favorable environment for Ripple Labs, which has long advocated for regulatory changes in the US.

The previous administration faced criticism for its enforcement actions and lawsuits targeting major players in the crypto sector, including Ripple Labs itself.

Since Gensler’s resignation on January 20, 2025, several lawsuits against prominent companies like Coinbase, Robinhood, Uniswap Labs, and Kraken have been dropped, further easing regulatory pressures.

This renewed optimism not only fuels hopes for XRP ETF approval but also raises expectations for other crypto ETFs, including those for Litecoin (LTC), Solana (SOL), Dogecoin (DOGE), and Cardano (ADA), which may also receive approvals later this year.

At the time of writing, XRP, currently the fifth largest cryptocurrency on the market in terms of capitalization, is trading at $2.21, up 8% in fourteen days amid renewed optimism in the market after a challenging few months.

@ Newshounds News™
Source:  Bitcoinist

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

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Thank you Dinar Recaps

News, Rumors and Opinions Friday AM 5-2-2025

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Fri. 2 May 2025

Compiled Fri. 2 May 2025 12:01 am EST by Judy Byington

Global Currency Reset:  (RUMORS)

Wed. 30 April 2025  Banker: “Initially Wells Fargo Bank in Sacramento was to release the 800 number. It is now my understanding that it will be released in Panama.”

Tues. 29 April 2025 Wolverine: “Bond Holders are liquid in their accounts. Money is defiantly moving.”

~~~~~~~~~~

Thurs. 1 May 2025 Bruce:

Sometime between now and next Wed. 7 May you should get an email from Wells Fargo that instructs how to set up your exchange appointment.

In order for us to exchange there were three things that needed to happen that did happen by yesterday Wed. 30 April. (1) One was taking out the nuclear plant in Iran – which set up a peace agreement in the Middle East. (2) The second was the agreement between Trump and Ukraine to mine precious metals. Russia agreed to a cease fire for three days. (3) The third was the problem with Iran and Ukraine integrating into the new banking system. That is to happen by Fri. night 2 May.

There were indications that Dong and Dinar were being exchanged in the Middle East.

Everything was triggered to start today Thurs. 1 May at 2 pm EST.

The latest information was that Tier4b (us, the Internet Group) notifications should come out over the weekend, with appointments starting on Tues. 6 May.

All exchanges are to be finished by Sat. 31 May 2025.

On Wed. 30 April Iraq announced they were in bankruptcy, so their Dinar was likely to revalue ASAP. The IQD (Iraqi Dinar) flips first, the XRP follows: https://x.com/589bull10000/status/1917621269450707386?t=1T5j2NhKm7xa-kjs5dfUtw&s=09

Thurs. 1 May 2025 Dong RV Officially Confirmed: OH MY GOSH! – VND Revaluation OFFICIALLY Confirmed – URGENT Update for Dong Holders!

Thurs. 1 May 2025 Three Signs the Iraqi Dinar RV Has Already Started: IRAQI DINAR – 3 Hidden Signs the Iraqi Dinar RV Already Started – Banks & Redemption Centers Know!

~~~~~~~~~~

Global Financial Crisis:

Thurs. 1 May 2025: The Federal Reserve Lost $80 Billion, American Taxpayers PAID FOR IT. “The Fed is losing, last year they lost about $80 billion and the taxpayers funded that, and we use that money to pay banks.” Charlie Kirk “So is congress then financing this loss?” “Yeah — It’s crazy.” …Q into the Storm on Telegram

Thurs. 1 May 2025: TRUMP UNLEASHES GOLD-POWERED INCOME TAX REVOLUTION …Nesara Gesara on Telegram

TRUMP JUST CHANGED EVERYTHING. On April 27, 2025, he dropped the bomb: “NO INCOME TAX for Americans earning under $200K” — all thanks to a TARIFF-POWERED REVENUE PLAN that’ll obliterate the IRS and launch America into a new industrial age. Factories are firing up. Jobs are coming back. He calls it the EXTERNAL REVENUE SERVICE.

But here’s the part they don’t want you to see: it’s not just tariffs. This is the death blow to the fiat system.

JUDY SHELTON IS BACK. Trump’s trusted gold-standard economist is pushing a new 50-year Treasury bond — fully convertible to GOLD — launching July 4, 2026. Her plan? Use America’s gold reserves to back a new debt instrument and k**l the Fed’s monopoly. This isn’t theoretical. This is the start of a financial coup.

The Fed is DONE. The global dollar order is collapsing.

Russia and China are already there. Russia just abolished the 20% VAT tax on gold — signaling a full return to a gold standard. China? Quietly hoarding gold, dumping dollars.

Defcon insiders warn: The next global system will be gold-backed, and the US dollar will CRASH. Maxime Bernier isn’t mincing words: “We’re handing them the win. We’re triggering the collapse of our own currency.” And Canada has no gold left. NONE. Their dollar is hanging by a thread.

This is happening FAST. Russia’s central bank is stacking up assets immune to sanctions — gold, cash, and Chinese yuan. They’re preparing for the final break from the Western system.

Meanwhile, Lebanon just canceled its central bank’s foreign debt. That’s full-on reset mode. Central banks are collapsing from the inside. They’re wiping the slate clean. Who’s next?

The gold dominoes are falling. And in the shadows, Multichain is connecting XRPL with 39+ chains, bypassing legacy financial controls — ushering in a decentralized gold-backed exchange system with over $6 billion locked and $200M daily volume. Quiet now… but that’s how revolutions start.

We are in the final chapter. The fiat illusion is crumbling. Gold will rise. Trump is forcing the reset — ON OUR TERMS.

WAKE UP. THE WAR ISN’T COMING. IT’S HERE.

Read full post here:  https://dinarchronicles.com/2025/05/02/restored-republic-via-a-gcr-update-as-of-may-2-2025/

************

Courtesy of Dinar Guru:  https://www.dinarguru.com/

Yada  For this rate to delay another month would mean they'd have to freeze all they've done up till now.  26 billion dollar worth of oil not flowed from Iraq to Turkey and all needed is the rate to populate. US pushing to get it restarted. Billions of invested money from companies arrived in Iraq the past 3 weeks and doubt they will just sit on it with no rate change...There is much said in the articles as well as prep actions of Iraq to indicate, the rate release is upon us.

Militia Man  Article quote: "Non-oil imports rose significantly during the government of Muhammad Sudani including long-term investment revenues..."   Sudani has increased the non-oil revenues since he's been in office...Realize Iraq's original valuation was primarily based off oil.  Now they have non-oil resources.  They're really going to be able to support a real effective exchange rate as far as I can see...

************

Twin Deficit Crisis: 'This Is How You End Empires', Recession Imminent? | Darius Dale

David Lin:  5-1-2025

Darius Dale, Founder of 42 Macro, explains his forecast for a W-shaped market correction in 2025, warning about the risks of the U.S. twin deficit crisis and recommending defensive positioning with significant allocations to gold and cash.

0:00 - Intro

1:25 - Allocation update

 5:52 - Fiscal timing

9:35 - Recession explanation

 18:02 - Credit defaults and shorting

20:44 - Retail investing

 23:13 - KISS Portfolio

 28:25 - Capital outflow

35:55 - View of the dollar

 39:40 - Deficits

43:43 - DOGE cuts

 48:15 - W-shaped Market in a U-shaped Economy

https://www.youtube.com/watch?v=lixA8SuJf2E

“Tidbits From TNT” Friday Morning 5-2-2025

TNT:

Tishwash:  Planning: Memoranda of Understanding with advanced countries to train employees outside Iraq

The Ministry of Planning affirmed that training government employees is a priority for enhancing institutional performance, while noting the signing of memoranda of understanding with advanced countries to train employees outside Iraq.

Ministry spokesperson Abdul Zahra Al-Hindawi said that the ministry places a direct emphasis on training and developing the capabilities of employees in all state institutions through the National Center for Administrative Development and Information Technology.

He explained that the National Center organizes, as part of its annual program, numerous training courses in various fields, including management, law, protocol, computers, electronic and financial aspects, and others. Some of these courses are held at the request of government institutions based on their needs. link

************

Tishwash:  Clarification of the Cabinet's decision regarding the withdrawal of tax deposits

 A responsible source commented on Thursday (May 1, 2025) on what was circulated on social media and some media outlets regarding a government decision to withdraw tax deposits, stressing that the procedure is legal, announced, and aims to cover basic expenses, most notably salaries.

The source told Baghdad Today, "The sums referred to in the decision were not recorded in a final account within the public treasury, but were used to cover expenses, a practice followed by previous governments and implemented in accordance with a decision announced by the Council of Ministers."

He explained that "the decision included reversing the amounts of trusts from the revenues collected during tax accounting," noting that "the Ministry of Finance, as the competent authority, studied the decision before making it."

The source added, "What happened in the previous government regarding tax deposits could have been avoided if the current procedure had been adopted at the time," considering that "the deliberate distortion and fraud by some parties for electoral purposes not only targets the government, but harms all of Iraq."

He concluded by stressing that "the government is proceeding with its reforms despite attempts to disrupt them, in a manner that ensures the best possible service to the Iraqi citizen."

Decision details: Temporary withdrawal and subsequent settlement.
The Cabinet voted last April to authorize the Minister of Finance to withdraw more than 3 trillion dinars from tax deposits less than five years old to cover salary expenses for the coming months. These amounts will be subsequently settled from monthly tax revenues.

According to observers, this measure is a temporary means of financing to overcome delays in transferring oil revenues from the US Federal Reserve into local currency, without the need for borrowing or delayed salaries.

Despite the technical
nature of the decision, the withdrawal of tax deposits sparked widespread political controversy, with some forces viewing it as a reflection of the fragility of the financial situation and the government's weak ability to manage expenditures without compromising temporary and legally allocated funds.

For its part, the Parliamentary Finance Committee believes that addressing this crisis requires a comprehensive review of fiscal policy, reducing reliance on oil, and enhancing non-rent resources, to avoid the repeated resort to exceptional solutions that could be legally considered controversial. link

************

Tishwash:  Al-Sudani explains the reason for inviting the Syrian president to the Baghdad summit and Iraq's ambition to host the Iran-US talks.

Prime Minister Mohammed Shia al-Sudani affirmed that Syrian President Ahmed al-Shara's invitation to attend the Arab League summit in Baghdad was within the established protocol of the Arab League system, noting the importance of his attendance in clarifying his vision for Syria's future to Arab countries.

In press statements monitored by Al Furat News Agency, Al-Sudani stressed Iraq's commitment to Syria's security and stability, considering it a part of Iraqi national security. He expressed his hope that Syria would witness a comprehensive political process that guarantees the rights of all citizens.

In the context of regional relations, Al-Sudani explained that Iraq maintains good relations with both Iran and the United States, affirming Baghdad's support and encouragement for the current negotiations between them. He added that the success of these negotiations will have positive repercussions for the region as a whole, including Iraq.

Regarding relations with Washington, Al-Sudani noted Iraq's efforts to shift toward bilateral relations with the United States, a focus of two rounds of dialogue in Washington. He expressed hope that the third round would be held in Baghdad.

Regarding the Palestinian issue, the Prime Minister emphasized that it is "the root of the problem in the Middle East," expressing his belief that US President Donald Trump is capable of leading global efforts to resolve it.

Al-Sudani explained that "Iraq is experiencing its best situation since the founding of the modern state," adding, "Iraq is not what is often viewed as a war zone. Indicators on the ground are different. Residents of the capital are out and about until late at night, and more than $88 billion in investments have entered the country."

He stressed that "the challenge facing my government is to restore citizens' confidence in state institutions, due to the many setbacks that have occurred over the past two decades."

The Prime Minister stated that "corruption is one of the challenges facing my government, and I have initiated practical, not media-based, measures to combat it."  link

************

Mot:  “Excuse me… could you walk with me for a couple of minutes?”

A man is walking through the supermarket, holding a basket and looking a bit lost. He notices a very attractive, beautiful, and fit young woman nearby. He walks up to her with a friendly smile:

“Excuse me… could you walk with me for a couple of minutes?”

The woman looks confused and asks,

“Why?”

He replies,

“I’ve lost my wife… and every time I talk to a pretty woman, she magically appears out of nowhere!”

The woman chuckles and says,

“That’s… oddly specific.”

He points behind her and says,

“See? Told you — there she is!”

Seeds of Wisdom RV and Economic Updates Thursday Evening 5-1-25

Good Evening Dinar Recaps,

HOUSE REPUBLICANS TO UNVEIL LANDMARK DRAFT DIGITAL ASSET BILL AHEAD OF KEY CRYPTO HEARING NEXT WEEK

▪️Top Republicans of the House Financial Services Committee alongside their counterparts in the House Agriculture Committee will be releasing a draft ahead of a May 6 hearing on the future of digital assets, sources told The Block
.
▪️The incoming version is set to be similar to one that passed out of the House last year called the Financial Innovation and Technology for the 21st Century Act

Key lawmakers are set to release a new discussion draft in the coming days that outlines a significant regulatory framework for digital assets, ahead of a major congressional hearing next week.

Top Republicans on the House Financial Services Committee — Reps. French Hill and Bryan Steil — along with their counterparts on the House Agriculture Committee — Reps. Glenn "GT" Thompson and Libertarian Dusty Johnson — will release the draft before a May 6 joint hearing on digital assets, a source familiar with the matter confirmed to The Block.

The hearing, titled “American Innovation and the Future of Digital Assets: A Blueprint for the 21st Century,” will be held at 10 a.m. ET and is expected to focus on long-awaited legislation to define crypto market structure in the United States.

The draft is expected to resemble last year’s Financial Innovation and Technology for the 21st Century Act (FIT 21), which passed the House. A staffer for the House Agriculture Committee also confirmed that the text would be released prior to the hearing.

Committees in the House and Senate have advanced bills focused on stablecoins, and legislation to regulate the crypto industry as a whole has been viewed as the next step. President Donald Trump has said that he wants to see a stablecoin bill on his desk by August, but some say the bills could be linked.  

Republicans have been mostly leading efforts on both bills and would need Democratic support to pass. Some Democrats, including crypto critic Rep. Brad Sherman of California, have said that "good crypto regulation" is needed, but Trump-backed crypto ventures could threaten any hope of bipartisanship.

Moving Onwards

The process for a market structure bill is moving quickly, said Ron Hammond, senior director of government relations at the Blockchain Association, as lawmakers could decide to hold another hearing or could go straight away to a markup — the process where lawmakers openly debate, amend, and vote on a bill.

Hammond said he had not seen a version of the discussion draft, but said he had been told it was 90% similar to FIT 21.

"Overall, it's still kind of a black box until we see the text of what actually got changed and what they intend to change after the discussion draft," Hammond said in an interview.

FIT 21 sets out to clarify when a digital asset would be regulated by the Securities and Exchange Commission, the Commodity Futures Trading Commission, or both. It would have ultimately granted more power and funding to the CFTC to oversee crypto spot markets and "digital commodities," particularly bitcoin, and set parameters for the Securities and Exchange Commission.

Meanwhile, the Senate is working on its version of a crypto market structure bill, Hammond said.

Stablecoins - market structure

Combining the two bills has been floated, but there are concerns of partisan divides as the midterms near in November 2026, Hammond said, while others say they should be separated and get stablecoin legislation signed into law first. Work on a stablecoin bill is seen as less complicated than trying to regulate the industry as a whole.

Hill told reporters in March that he views the bills as "linked," and Steil said he viewed the two as peanut butter and jelly.

However, Trump's foray into crypto could complicate crypto legislative efforts. Hill was asked in March about the Trump family's involvement in crypto, which includes a DeFi protocol under development as well as live and tradable memecoins and NFTs. World Liberty Financial, backed by Trump, also recently launched its own stablecoin.

Hill had said that Trump's memecoin and stablecoin involvement has complicated their work.

During congressional hearings over the past several weeks, Democrats have raised alarm bells over Trump's involvement. Top Democrat of the House Financial Services Committee, Maxine Waters of California, accused Trump of making himself richer through his crypto ventures during a hearing last month.

"The more the Trump family gets involved in the crypto realm, and World Liberty Financial gets involved, it just presents another angle of attack for Democrats to attack Trump," Hammond said. "So there is a concern that this will only worsen over time and sour a potential good bipartisan vote in the Senate."

@ Newshounds News™
Source:  The Block

~~~~~~~~~

AUSTRALIAN ELECTION WILL BRING PRO-CRYPTO LAWS EITHER WAY

No matter who wins Saturday's election in Australia, crypto legislation developed with the industry is set to finally happen this year.

Despite reports in February suggesting that 2 million pro-crypto voters could decide the outcome of this week’s Australian Federal Election, crypto has barely rated a mention during the campaign.

“I think it’s a missed opportunity,” Independent Reserve founder Adrian Przelozny told Cointelegraph. “Neither side has made crypto a headline issue because they’re wary of polarizing voters or sounding too niche.”

But the good news is that after more than a decade of inaction, both the ruling Australian Labor Party (ALP) and the opposition Liberal Party are promising to enact crypto regulations developed in consultation with the industry.

In April, Shadow Treasurer Angus Taylor promised to release draft crypto regulations within the first 100 days after taking office, while the Treasury itself has draft bills on “regulating digital asset platforms” and “payments system modernization” scheduled for release this quarter.

Amy-Rose Goodey, CEO of the Digital Economy Council of Australia, said that both parties “are equally invested in getting this draft legislation across the line.”

“Irrespective of who gets in, we’re in a better position than we were about a year ago.” Pro-crypto voters have choices in the Senate, too, with the Libertarian Party issuing a 23-page Bitcoin policy in March — calling for the creation of a national Bitcoin Reserve and the acceptance of Bitcoin as legal tender.

The minor party is fielding five Senate candidates in different states, including former Liberal MP Craig Kelly, but doesn’t currently have anyone in the Senate.

The progressive left-wing Greens party has not outlined a position on crypto, while the conservative right-wing One Nation party has campaigned against debanking and CBDCs.

More Than A Decade Of Inaction On Crypto

Australia’s first parliamentary inquiry into digital assets was held back in 2014, but there’s been more than a decade of regulatory inaction since. The industry says this has led to stagnation and a brain drain of talent to jurisdictions like Singapore and the UAE.

The former Liberal Government was considering the landmark Digital Services Act, based on the 2021 Senate Committee’s crypto recommendations, when it lost office in 2022. Despite ongoing consultations since, the ALP government, led by Prime Minister Anthony Albanese, hasn’t put forward any legislation to parliament.

But there has definitely been a vibe shift from the ALP recently, with Treasurer Jim Chalmers telling Cointelegraph that digital assets “represent big opportunities for our economy.”

”We want to seize these opportunities and encourage innovation at the same time as making sure Australians can use and invest in digital assets safely and securely with appropriate regulation.”

His office said exposure draft legislation would be released “in 2025” for consultation, introduced into Parliament “once that feedback has been considered” with the subsequent reforms “phased in over time to minimize disruptions to existing businesses.”

The shadow assistant treasurer, Luke Howarth, said the ALP has been slow to act because it didn’t have a blockchain policy when it was elected.

“It wasn’t until the FTX collapse that they acknowledged the need for regulation,” he told Cointelegraph. “The Albanese government initially promised it would put in place regulation by 2023 but have failed to draft legislation or give a clear time-frame for action. After three years, all that was offered to industry was a six-page placeholder document.”

He’s referring to Treasury’s March statement “on developing an innovative Australian digital asset industry.” It provides for the licensing of Digital Asset Platforms (DAPS), a framework for payment stablecoins and a review of Australia’s Enhanced Regulatory Sandbox.

While short on detail, those aims are broadly similar to the crypto regulation priorities that Howarth outlines to Cointelegraph — the big difference being that the opposition has committed to a faster time frame.

Przelozny praised the 100-day promise as “exactly the kind of urgency we need.”

If elected, the Liberal Party’s legislation is expected to take some of its cues from Senator Andrew Bragg’s private members bill in 2023 and some from the more recent work done by the Treasury.

The government steps up efforts

The Treasury has been quietly drafting legislation this year, which Goodey understands is “almost complete.”

“There’s been prioritization within Treasury, and I know that their team has almost doubled — the digital asset team — for writing that draft legislation. So, there has been an investment in that over the past six months.”

Przelozny characterizes the ALP’s approach as “cautious and methodical, but it’s been slow,” prioritizing consumer protection and risk management.

BTC Markets CEO Caroline Bowler said the election of a pro-crypto Trump administration and the UK’s draft regulations (released this week) likely forced both sides of politics to finally get serious.

”Australia has ground to make up, and I would anticipate this also being a factor in the savvy move by both parties,” she said.

Stand With Crypto campaign and ASIC

The Stand With Crypto campaign is active in Australia but has been fairly low-key during the campaign, with a focus on debanking.

Coinbase managing director for APAC John O’Loghlen called on whoever wins the election to launch a “Crypto-Asset Taskforce (CATF) within the first 100 days.” This would include industry and consumer representatives to finally get crypto regulations over the line.

“If Australia doesn’t move now, we risk falling even further behind,” he told Cointelegraph.

“The next government must move beyond consultation and into legislation.”

The Australian Securities and Investments Commission (ASIC) is the local equivalent of the US Securities Exchange Commission (SEC). It released its own crypto regulatory proposals in December.

Joy Lam, Binance’s head of global regulatory and APAC legal, told Cointelegraph she doesn’t expect ASIC to suddenly change direction if a new government comes in, as the SEC did.

“ASIC doesn’t make the law,” she said. “I don’t expect a complete kind of 180 because ASIC, it is independent, and it does have its own mandate, but it obviously operates within the legislative framework that the government is going to be setting.”

Who should single-issue crypto voters back?

In February, a poll by YouGov and Swyftx found that 59% of crypto users would vote for a pro-crypto candidate in the federal election above all other issues. That equates to around 2 million Australians and would be enough to determine the outcome of the election one way.

But the similarities between the major parties on crypto regulation are much greater than the differences. Goodey said both sides of politics have genuinely engaged with the industry about its concerns and priorities.

“You can see in some of the language with their media releases that they both released in March, April this year, that they are in agreement on what the industry issues are,” she said.

Owing to Senator Bragg’s campaigning on crypto, the industry sees the Liberal Party as more enthusiastic about digital assets, but after three years in government, the ALP looks to have arrived at roughly the same place.

Recent YouGov and Resolve polls suggest the government is likely to be reelected.

While internal Liberal polling suggests an ALP minority government is a genuine possibility, the major parties would have enough votes between them to pass bipartisan crypto legislation.

Whatever happens, 2025 looks like the year Australia will finally provide the crypto industry with the certainty it needs.

“For industry, the timing is really quite critical now because obviously it’s something that has been discussed and kicked around for quite a few years,” Lam said.

“I would say that we are cautiously optimistic.”

@ Newshounds News™
Source:  CoinTelegraph

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