Seeds of Wisdom RV and Economic Updates Thursday Afternoon 5-22-25
Good Afternoon Dinar Recaps,
BRICS: STANDARD CHARTERED, DEUTSCHE BANK PREDICT US DOLLAR’S FUTURE
Amid the ongoing BRICS de-dollarization agenda, global leading banks Standard Chartered and Deutsche Bank have provided the latest insights on the US dollar’s future prospects.
The two banks remain bearish on the greenback due to various macroeconomic factors. These trillion-dollar institutions are now questioning the profitability of US-backed financial assets on a global scale.
The US-backed assets, especially the dollar, which was once the bedrock of all global finances, is slowly drifting away after BRICS kick-started the de-dollarization initiative, and Standard Chartered and Deutsche Bank are taking notice of the drastic changes that have occurred in the markets since three years ago.
BRICS: The US Dollar’s Future Is in Danger, Say Standard Chartered & Deutsche Bank
Standard Chartered and Deutsche Bank wrote in their latest report that the US dollar is in danger, not just from BRICS, but from everyone.
“The dollar weakness story is not over,” wrote Standard Chartered Global FX head Steve Englander. The strategist explained that the new trade policies have caused a long-term strain, eroding confidence in the White House.
Following Standard Chartered’s warning, Deutsche Bank wrote that the US dollar would face trouble not only from BRICS but from within.
Deutsche Bank analysts warned that Trump’s tax-cut bill would add $3 trillion to $5 trillion to the nation’s fiscal debt. This projection estimates that the extended debt could be added over the years.
As of May 2025, America’s debt stands at $36.2 trillion and is spiraling out of control.
“The combination of diminished appetite to buy US assets (from BRICS and others) and the rigidity of a fiscal process that locks in very high deficits is what is making the market very nervous (on the dollar),” wrote George Saravelos, Global Head of FX Research at Deutsche Bank.
Therefore, both Standard Chartered and Deutsche Bank are bearish on the prospects of the US dollar, as global demand weakens and fiscal instability intensifies.
@ Newshounds News™
Source: Watcher Guru
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US LAWMAKER INTRODUCES ANTI-CORRUPTION BILL AHEAD OF TRUMP'S DINNER
Donald Trump is preparing to host up to 220 people at his golf club, with access tied to his memecoin purchases.
California Representative Maxine Waters, ranking member of the US House Financial Services Committee, has announced plans to introduce legislation “to block [Donald] Trump’s memecoin and stop his crypto corruption.”
In a May 22 notice, Waters said the Stop Trading, Retention, and Unfair Market Payoffs (TRUMP) in Crypto Act of 2025 bill would be aimed at blocking the US president, vice president, members of Congress, and their families from engaging in “crypto crime.”
The US lawmaker referred to Trump and his wife, Melania, issuing personal memecoins in January, his family launching a stablecoin, USD1, through the crypto platform World Liberty Financial, and the president attempting to establish a national Bitcoin reserve as his sons back a BTC mining venture.
“Donald Trump is preparing to dine with the top donors of his memecoin who’ve made him, and his family, richer,” said Waters, adding:
“Trump’s crypto con is not just a scam to target investors. It’s also a dangerous backdoor for selling influence over American policies to the highest foreign bidder.”
Waters’ bill was one of many actions announced to oppose the president’s dinner to reward memecoin holders. Senators Chris Murphy and Elizabeth Warren are expected to attend a press event with representatives for the consumer advocacy group Public Citizen, and two Democratic organizations are set to protest at the Trump National Golf Club outside Washington, DC, where the memecoin dinner will be held.
Majority of participants have stayed anonymous ahead of dinner
The number and names of attendees to the May 22 dinner were still largely unknown, but several revealed their intentions through social media and news outlets to apply for background checks and meet the president.
Bloomberg reported that more than half of the participants eligible for the dinner and “VIP Tour” — a separate experience limited to the top 25 memecoin holders — were likely foreign nationals.
Among those claiming to attend included:
Tron founder Justin Sun
Hyperithm co-CEO Oh Sangrok
Kronos Research CIO Vincent Liu
Synthetix founder Kain Warwick
Sun posted to X on May 21, showing himself appearing to gain access to the Eisenhower Executive Office Building in Washington, DC, part of the White House compound.
Addressing members of the press on May 22, White House Press Secretary Karoline Leavitt said Trump was attending the dinner “in his personal time.”
She denied that the event would take place at the White House, despite the memecoin project’s website previously stating the top 25 holders would be eligible for a tour of the government building.
Since the launch of the TRUMP memecoin on Jan. 17, many lawmakers and industry figures — including some generally supportive of Trump’s policies — have criticized the project.
In a May 20 article, the Wall Street Journal Editorial Board called on the White House to disclose the names of those attending the dinner, adding that Trump would “help himself by calling off his Thursday gala.”
Two organizations behind the TRUMP token are tied directly to the president and control roughly 80% of the total supply, opening up the potential for a rug pull in the future. In the previous 24 hours, the price of the memecoin has risen more than 11%, to $15.76 from $14.13.
@ Newshounds News™
Source: Cointelegraph
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