DINARRECAPS8 2/13/25 DINARRECAPS8 2/13/25

Seeds of Wisdom RV and Economic Updates Thursday Morning 2-13-25

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FED GOVERNOR: BANKS AND NON-BANKS SHOULD BE ABLE TO ISSUE STABLECOINS

Fed Governor Christopher Waller believes there should be a framework that allows banks and non-banks to issue regulated stablecoins.

According to a recent Bloomberg report, Waller stated that stablecoins have the potential to expand the reach of the U.S. dollar on an international scale. However, the scale and utility of stablecoins will depend on a clear set of regulations.

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In a conference in San Francisco, Waller said the stablecoin market requires a regulatory framework that encompasses stablecoin risks “directly, fully, and narrowly” before financial institutions will be able to issue them.

“This framework should allow both non-banks and banks to issue regulated stablecoins and should consider the effects of regulation on the payments landscape,” said Waller.

Stablecoins are digital currencies known for their steady value because they are typically pegged to fiat currencies, most commonly the U.S. dollar or Treasury bills. Two of the largest stablecoins by market cap, USDT and USDC, are both pegged to the U.S. dollar.

Waller’s remarks echo those of Federal Reserve Chairman Jerome Powell in February last year. Powell expressed wholehearted support for the creation of a stablecoin framework in a meeting with the House Financial Services Committee, reiterating the Fed’s commitment to developing stablecoins and Central Bank Digital Currencies in the U.S. (However, Powell agreed there would not be a CBDC in the US during a Congressional hearing this week)

More recently, Rep. Maxine Waters, the ranking Democrat on the House Financial Services Committee, introduced a proposal for stabelcoin oversight involving the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Federal Reserve.

Earlier this month, Republican Chair of the House Financial Services Committee, French Hill, had submitted a draft bill for stablecoin regulation, co-sponsored by Rep. Bryan Steil. In contrast to Water’s proposal, Hill’s bill grants stablecoin oversight to the OCC instead of the Federal Reserve.

This means that both Republican and Democratic lawmakers have introduced stablecoin regulations under the Trump administration.

@ Newshounds News™

Source: Crypto News

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TEXAS LAWMAKERS REFILE BITCOIN RESERVE BILL, ADDING ROOM FOR MORE CRYPTO

The bill “would make our state the first to establish a Strategic Bitcoin Reserve and drive innovation, growth, and financial freedom,” said Senator Schwertner.

Texas lawmakers have refiled a strategic Bitcoin reserve bill under a slightly different name, opening the door to investments in other qualifying cryptocurrencies.

“SB 21 would make our state the first to establish a Strategic Bitcoin Reserve and drive innovation, growth, and financial freedom,” said Texas state Senator Charles Schwertner on Feb. 12.

He also thanked Lieutenant Governor Dan Patrick for designating his bill to establish the Texas Strategic Bitcoin Reserve “as one of the Senate’s top 40 priority bills.”

“I’ve been told by the Lt. Governor’s office multiple times that this bill is a major priority,” said Satoshi Action Fund founder Dennis Porter in a post on X.

SB 21 differs slightly from SB 778, a similar strategic Bitcoin reserve bill that the Republican politician announced in mid-January.

The earlier legislation only permits the state to buy and hold BTC as a strategic asset and prevents its use for other state operations unless explicitly authorized.

Schwertner refiled the legislation “for the purpose of investing in cryptocurrency and the investment authority of the comptroller of public accounts over the reserve and certain other state funds” on Feb. 12.

The bill establishes the reserve as an investment vehicle, allowing the state to actively buy, sell, and manage crypto assets for financial security and economic resilience.

It also permits investments in other digital assets but stipulates that they must have had a market capitalization of at least $500 billion for the past twelve months. Currently, only Bitcoin falls into this category.

SB 21 also gives more control to financial experts, while SB 778 places control in the hands of state legislators and has stricter security, oversight, and funding rules.

Riot Platforms vice president of research, Pierre Rochard, commented that the new legislative text for the Texas SBR “is very bullish,” before adding “It removes the annual buying limit of $500 million, the legislature can appropriate as much as it wants to save BTC.”

There are currently 19 US states with a bill proposed, while Arizona and Utah have advanced legislation beyond the House committee level.

The most recent state to propose a crypto bill was North Carolina, which filed for legislation this week to allow the state to invest in Bitcoin exchange-traded products. North Dakota, meanwhile, has rejected legislation regarding crypto investments.

@ Newshounds News™

Source: CoinTelegraph

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DINARRECAPS8 2/12/25 DINARRECAPS8 2/12/25

Seeds of Wisdom RV and Economic Updates Wednesday Evening 2-12-25

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CONGRESS EXPLORES SHORTCUTS FOR DIGITAL ASSET REGULATORY CLARITY, INCLUDING MARKET STRUCTURE

Yesterday the House Financial Services digital asset subcommittee held a hearing on charting a path forward on digital assets. There’s a consensus that stablecoin legislation is urgent, with multiple Bills circulating.

However, there’s also a need for legislation around market infrastructure, including regulating crypto exchanges. Last year the House passed the FIT 21 Bill, but there was less progress in the Senate. One of the topics discussed during the hearing was whether the SEC could provide a solution in the interim.

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A takeaway from the hearing is a lightweight alternative to a full crypto infrastructure Bill such as FIT 21. For now legislation may only be needed to make the CFTC the regulator of spot crypto commodity markets. The steps might involve:

1. Delegating authority to regulate spot crypto to the CFTC via legislation
2. Creating a self regulatory organization (SRO) jointly overseen by the CFTC and SEC which would set rules for crypto exchanges and the like
3. The SEC clarifies rules on when a digital asset is a security or not
4. The SEC creates some new exemption(s) for digital asset issuers
5. And all the other items on the list recently proposed by SEC Commissioner Peirce.

Even if that’s not the long term solution, it might be the fastest interim one.

Regulatory exemptions

Congressman Hill asked Coy Garrison about the various SEC exemptions currently used for issuing digital assets. Mr Garrison previously served as counsel to SEC Commissioner Hester Peirce.

The lawyer explained that many issuers use Regulation S, which restricts the asset to offshore investors. Those willing to target US investors often use Regulation D, which means assets are only available to wealthy investors.

“What I think the ecosystem has to understand is that not all these needed activities can be taken care of by the Commission by itself without Congress,” said Congressman Hill. And he asked what sort of exemption system the SEC could add without Congress.

Mr Garrison suggested something similar to Commissioner Peirce’s Safe Harbor provisions, which would allow access to retail investors.

Last week Commissioner Peirce mentioned reviewing Regulation A and crowdfunding rules.

Additionally, Mr Garrison noted that disclosure requirements could be tailored, as token holders have different interests compared to shareholders who need financial statements, which he clarified in his written testimony. He noted that many provisions from other exemptions could be used, including limits on the number of investors and the proportion of a person’s net worth that can be invested.

Another witness, former CFTC Chair Timothy Massad, is keen for the SEC to take a first pass, rather than Congress. He highlighted that the SEC only needs the three votes of its Republican Commissioners, compared to 60 Senate votes.

“I have confidence that they (the SEC) can come up with some interesting ideas, but this is a very difficult issue to address. And I’m worried that if Congress tries to do it, we’ll undermine our Securities markets,” said Mr Massad. He was responding to questions from Congressman Haridopolos, who observed that the challenge with leaving it all to the regulators is that administrations change.

A crypto Self Regulatory Organization?

Congressman Hill, who previously chaired this subcommittee and now chairs the main House Financial Services Committee, asked Mr Garrison about self regulatory organizations (SROs).

“You’ve advocated for a joint SRO to oversee digital assets as a convenient way to sort of sidestep these questions. Do you still advocate for that?,” he asked.

Mr Garrison requested clarification about whether the SRO would be jointly overseen by the SEC and CFTC, which Congressman Hill confirmed.

“Yes, I think that could potentially work great,” Mr Garrison responded. “Any type of communication between the two agencies and coordination on regulations would make sense.”

Clarifying how regulated entities can interact with digital assets

Congressman Stutzman asked which topics should be the highest priority for the SEC. Mr Garrison responded that clarifying the status of digital assets under the securities laws and scoping out which activities fall outside the scope of securities laws are the most important, as everything else flows from that.

He continued, “Providing guidance on how regulated intermediaries by the SEC can touch digital assets. Now that would apply both in the context of digital assets that are not securities as well as digital assets that are securities like a tokenized stock. Providing a clear pathway for broker dealers, investment advisers, clearing agencies, transfer agents to be able to engage will really allow the ecosystem to flourish.”

It must be emphasized that this light legislation approach was only touched upon briefly, and not everybody agreed. One of the witnesses was Jonathan Jachym, Deputy General Counsel at the Kraken Digital Asset Exchange, one of the largest in the United States.

“These things are not mutually exclusive,” he said. “I know there’s been discussion of let’s wait, let’s move stablecoins first. Let’s wait on market structure. We cannot wait any further. And Congress doesn’t need to move a market structure Bill that solves every single problem in the ecosystem.

We are talking about the most basic, foundational rules of regulating centralized exchanges. And these two agencies can continue to work in tandem while Congress advances the Bill in this cycle.”

@ Newshounds News™

Source: Ledger Insights

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BRICS: IS DONALD TRUMP’S PLAN TO SAVE THE US DOLLAR WORKING?

The last several weeks have seen geopolitical tensions reach a fever pitch. With the global south and the US facing off, a trade war is seemingly brewing between both sides. Yet, after his confrontation with the BRICS alliance, is US President Donald Trump’s plan to save the US dollar working?

Trump had expressed his desire to confront nations seeking to abandon the US dollar after his election win late last year. Indeed, he has adopted an aggressive economic policy that is looking to dissuade attempts at lessening international reliance on the greenback. Two months into his White House return, are those efforts working?

Is Donald Trump’s BRICS Attack Helping Preserve the US Dollar?

On the campaign trail last year, Donald Trump said the US dollar losing its status as the world’s currency would be akin to the nation losing a war. That has spurred the returning president to action. Specifically, he has targeted the BRICS bloc, which has been outspoken in its de-dollarization initiatives.

For the last two years, the group has sought to lessen international reliance on the US dollar. Led by Russia and China, it sought to increase the use of local currencies and went more or less unchecked. The efforts were minimal in scope, and the Biden administration acted through its inaction, perceiving the situation as non threatening.

That has not been the case with the returning administration. Indeed, with BRICS looking to slow those very local currency efforts, is Donald Trump’s plan to save the US dollar working? To this point, it has certainly benefited the greenback.

Prior to Tuesday, the US dollar had been gaining for three straight days. Just last week, the US Dollar index enjoyed its biggest daily rise in nearly a month, according to Reuters. Moreover, the imposition of Trump’s tariff threats has seen a host of nations speak out against the BRICS perceived de-dollarization.

India and Indonesia have both been adamant about the group’s purpose. They state that the alliance is only seeking to benefit involved nations economically and has no interest in targeting the dollar. Alternatively, Russia has publicly nixed plans for a BRICS currency, something Trump required when he threatened tariffs originally.

However, the merits of his economic policy are concerning when considering the merits of de-dollarization. The US dollar had been losing strength but was not threatened. Therefore, his plan to save it may have been enacted under pretenses that were misguided.

@ Newshounds News™

Source: Watcher Guru

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DINARRECAPS8 2/12/25 DINARRECAPS8 2/12/25

Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 2-12-25

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COINSHARES XRP ETF: NASDAQ SAYS XRP IS HARDER TO MANIPULATE THAN BTC & ETH

▪️Nasdaq files with the SEC to list a CoinShares XRP ETF, citing the decentralized nature and massive liquidity of the cryptocurrency.

▪️The ETF would enable investors to gain exposure to XRP without directly holding the asset, boosting institutional adoption.

Nasdaq has entered the ETF race with a bold move to support XRP, filing with the SEC to list the CoinShares XRP ETF. According to the filing, Nasdaq argues that XRP’s decentralized network and vast liquidity pool make it even harder to manipulate than Bitcoin or Ethereum.

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The proposed ETF would follow its price action, offering an inexpensive way for investors to access the market. It would be listed under Nasdaq Rule 5711(d) upon approval, which includes Commodity-Based Trust Shares.

The ETF structure includes third-party custody, daily NAV disclosure, and oversight by Compass Financial Technologies, making it a secure and transparent investment product. Nasdaq is showing that it believes XRP can resist market manipulation by listing XRP alongside Bitcoin and Ethereum ETFs.

XRP’s Edge Over Solana, Cardano, and Litecoin in ETF Race

The SEC’s approval of this application would possibly redefine the cryptocurrency’s position in institutional finance. With increasingly more crypto ETFs being proposed, the spotlight is on how XRP stands in comparison to other digital assets. Solana, Cardano, and Litecoin are also vying to receive ETF approvals, but analysts and market sentiment overwhelmingly favor Ripple’s native token.

Despite Ripple’s ongoing legal battle with the SEC, analysts note that the ETF approval process has not been impacted. The cryptocurrency’s legal status as “not a security” eliminates a significant hurdle, according to legal expert Jeremy Hogan.

However, Nasdaq’s filing, along with increasing market confidence, makes a strong case for the approval of XRP’s ETF.

Interestingly, traders on Polymarket are now putting an 80% chance of Ripple winning ETF approval, which indicates broad optimism. Bloomberg’s Eric Balchunas puts the chances of the approval of the ETF this year at 65%. If approved, the step can help establish Ripple’s native token as a leader in the crypto ETF sector.

Growing Institutional Interest

Institutional demand for XRP has been consistently increasing, and Nasdaq and CBOE have filed multiple ETF proposals. Major asset managers like Bitwise, 21Shares, and WisdomTree have also entered the scene. All of these proposals point to a broader trend: institutional investors are becoming more comfortable with digital assets like XRP as investment vehicles.

The CoinShares XRP ETF will make it simpler to invest in the cryptocurrency, eliminating any complexity that is associated with directly holding the asset. The product has the potential to onboard a new set of investors into the Ripple ecosystem, bringing about higher adoption and liquidity.

XRP’s Price Cycle Echoes 2017 Breakout Patterns

Market participants are now speculating how far the cryptocurrency can surge if the ETF is accepted. The cryptocurrency is currently trading at $2.41 and has increased over 365% in the yearly chart.

Social media is full of forecasts; even some are speculating a price as high as $99, a 3,900% increase from current prices. While such a target is speculative, the parallels with past price cycles are hard to ignore.

Analyst Javon Marks noted that the cryptocurrency’s recent price action is drawing parallel with its 2017 breakout. The cryptocurrency has always used previous all-time highs as resistance before it pushed to new highs, according to him. If history repeats, then it is possibly setting itself up for a huge price explosion, driven by growing institutional interest and the potential ETF approval.

@ Newshounds News™

Source: Crypto News Flash

~~~~~~~~~

BRICS: INDIA DUMPS BILLIONS OF US DOLLARS

BRICS member India has once again been accused of dumping US dollars to protect its local currency, the rupee (INR).

The INR had plummeted to a lifetime low of 87.60 against the USD on Monday in the forex markets. The steep fall sent jitters in the markets making the Reserve Bank of India (RBI) intervene in the forex sector. India has been accused of intervention in the currency markets to keep the rupee from falling further.

RBI directed state-run banks to sell US dollars in the forex markets to stop the rupee’s decline, reported Reuters.

This is not the first time that BRICS member India has been accused of dumping US dollars. Last year alone, India was accused of market intervention more than four times to keep the rupee from falling. The trend has continued in 2025 raising questions about transparency in trade.

BRICS: India Accused of Market Intervention After Selling Billions of US Dollars

The latest report from Mint indicates that BRICS member India has dumped billions worth of US dollars this week.

The massive sell-off made the rupee recover from a lifetime low of 87.60 on Monday and reserve course to 86.90 on Wednesday. The intervention “is surprising and has triggered a blood bath for longs (on USD/INR),” a trader at a private bank said to Reuters.

The rupee’s rise to 86.90 is attributed to market intervention from India. Billions of US dollars were sold by the BRICS member to safeguard the rupee. State-run banks were directed to offload the currency from the RBI.

“We note that the accentuated moves in USD/INR witnessed lately have brought the currency to near fair value. However, given the unrelenting global uncertainties in the near term, we expect the pressure on INR to continue,” Kotak Mahindra Bank said in a note.

@ Newshounds News™

Source: Watcher Guru

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TRUMP’S RETURN HERALDS LITIGATION PEACE FOR CRYPTO

The president-elect’s new SEC chair will likely withdraw from lawsuits aimed at forcing crypto to follow Wall Street rules

WASHINGTON—Regulators tried to police the crypto market using the strongest weapons they have. Now they are likely to lay down their arms.

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Source: WSJ

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IS THE U.S. ABOUT TO REVALUE GOLD? WHAT IT MEANS FOR YOU!

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Source: Youtube

~~~~~~~~~

LIVE: DOGE Subcommittee Holds First Hearing: “The War on Waste” – 2/12/25 - REPLAY FROM THIS MORNING

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Source: RSBN

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DINARRECAPS8 2/12/25 DINARRECAPS8 2/12/25

Seeds of Wisdom RV and Economic Updates Wednesday Morning 2-12-25

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PRO-CRYPTO BRIAN QUINTENZ RETURNS TO CFTC AS TRUMP’S CHAIRMAN PICK

Former CFTC Commissioner Brian Quintenz is set to lead the agency again, signaling a shift in crypto regulation under the Trump administration.

Brian Quintenz, a former commissioner at the Commodity Futures Trading Commission, is expected to return as chairman following his selection by U.S. President Donald Trump, according to Bloomberg.

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If confirmed, he would serve a term running until April 13, 2029, returning to the agency at a time when crypto regulation is a central issue in financial policy.

His nomination aligns with broader efforts by the Trump administration to reshape regulatory oversight of digital assets and derivatives markets.

Quintenz previously served as a Republican commissioner at the CFTC from 2017 to 2021, playing a key role in overseeing the launch of the first fully regulated Bitcoin and Ethereum futures contracts.

During his tenure, he emerged as a strong advocate for a pro-innovation regulatory framework, pushing for clear, well-defined rules that would encourage institutional adoption of digital assets while maintaining market integrity.

His stance earned him comparisons to SEC Commissioner Hester Peirce—dubbed “Crypto Mom” in industry circles—for her similar advocacy of crypto-friendly regulation.

After leaving the CFTC, Quintenz joined Andreessen Horowitz’s (a16z) crypto division in December 2022, where he led policy efforts to influence U.S. crypto regulations.

The venture capital giant, which has investments in projects like Solana, Uniswap, Lido DAO, Optimism, and Eigenlayer, has consistently pushed for CFTC oversight of digital assets rather than SEC jurisdiction.

The crypto industry has long viewed the CFTC as a more accommodating regulator compared to the SEC, which has taken a stricter enforcement-driven approach under Chair Gary Gensler.

The nomination follows months of speculation. In December, reports surfaced that Trump was considering Quintenz among other candidates for the role.

Meanwhile, Trump’s newly appointed AI and Crypto Czar, David Sacks, has outlined plans to work with Congress on market structure legislation, signaling a push for clearer digital asset regulations.

Quintenz’s return could mark a shift in how the $400 trillion derivatives market, which includes a growing share of crypto-related products, is regulated.

Acting CFTC Chair Caroline Pham has expressed support for the nomination, stating that she worked with Quintenz on key initiatives during his previous tenure and believes he will bring the same focus on crypto and innovation back to the agency.

The nomination will now go through the confirmation process, with Quintenz expected to lead the agency as the U.S. debates the future of crypto market oversight.

@ Newshounds News™

Source: Crypto News

~~~~~~~~~

MEMECOIN REGULATION: SEC’S HESTER PEIRCE CHALLENGES GENSLER’S STANCE

Indirectly denouncing former SEC chairman Gary Ggensler stance on whether cryptocurrencies are securities, US Securities and Exchange Commission Commissioner Hester Peirce states that a good number of the memecoins in the market do not come under the purview of the country’s securities regulatory agency.

What makes her statement extremely significant is that Peirce chairs the crypto task force recently appointed by US President Donald Trump to determine which cryptocurrencies fall under the definition of ‘securities’ – thus under the jurisdiction of the SEC – and which do not.

SEC’s Stance on Memecoins

US SEC Commissioner Herster Peirce’s statement on the Memecoin regulatory environment explains what the current position of the securities regulatory agency on the matter is.

It appears that the current SEC leadership does not think it has the legal authority or responsibility to regulate a good number of the memecoins in the market.

Importantly, reports indicate that Peirce even thinks that the US Congress and the Commodity Futures Trading Commission are the competent authorities to address the sensitive matter of memecoin regulation.

Contrasting Views: Former SEC Chair Gensler’s Stance Analysed

Former SEC Chairman Gary Gensler was infamous for his conservative stance on crypto regulation. Under his leadership, the SEC maintained a position that a good number of cryptocurrencies are securities. It was this position that prompted the regulatory agency to open a series of legal battles against prominent crypto companies including Binance, Coinbase and Kraken.

The Memecoin Phenomenon: A Short Overview

The total market cap of the memecoin sector stands at $75,568,127,803 – which makes at least 2.31% of the total market cap of the cryptocurrency sector of $3,267,930,674,001.

As of now, Dogecoin, Shiba Inu, Pepe, Official Trump and Bonk are the top five memecoins by market cap.

The market caps of:
DOGE stands at $37,387,932,934;
SHIB at $9,238,118,808;
PEPE at $4,021,074,346;
TRUMP at $3,080,509,036; and
BONK at $1,345,093,611.

In the last one year, Dogecoin has surged by 214%; Shiba Inu by 68%; Pepe by 850%; and Bonk by 41.4%.

Memecoin Regulation: Concerns and Challenges

Critics express serious concerns about the memecoin market primarily because of its unregulated environment and extreme volatility.

In the last seven days, DOGE has dropped by 4.5%; SHIB by 2%; PEPE by 6.5%; TRUMP by 14.5%; and BONK by 6%.

Moreover, many believe that the market is highly susceptible to fraudulent projects and pump-and-dump schemes.

Recently, a memecoin investor filed a lawsuit with the support of Wolf Popper and Burwick, prominent US law firms, against Pump.Fun, a platform built on Solana to allow users to create and trade meme coins easily, accusing it of violating securities laws by offering extremely volatile memecoins.

In conclusion, Hester Peirce says ‘most memecoins are not securities’, a stance different from Gary Gensler’s. Meanwhile, the memecoin market keeps growing, but concerns over fraud and volatility remain. A new lawsuit against Pump.Fun adds to regulatory uncertainty as the debate over memecoin regulation continues.

@ Newshounds News™

Source: Coinpedia

~~~~~~~~~

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DINARRECAPS8 2/12/25 DINARRECAPS8 2/12/25

Is This the Biggest Heist of All Time?

Notes From the Field By James Hickman (Simon Black) February 11, 2025

We recently received a question from a reader asking for my thoughts on crypto.

He said we’ve been talking about gold a lot lately, the gold price, and how the price could go a lot higher. Shouldn’t we hold the same views on crypto, given everything that has happened with Bitcoin over the last year or so?

We ended up doing a whole podcast about this today, We talk a lot about gold, and a lot about crypto. To clarify, I’m not anti-crypto. In fact, I brought Bitcoin to our audience’s attention back in 2013, when the price was under $100. But there are some differences to gold.

Is This the Biggest Heist of All Time?

Notes From the Field By James Hickman (Simon Black) February 11, 2025

We recently received a question from a reader asking for my thoughts on crypto.

Right now, I think there are some major catalysts that could drive the price of gold much higher. It’s a matter of arithmetic, and we walk you through the math on it.

The other important thing is that while gold is at an all time high, gold related businesses have been in the dumps for a long time. And that’s a bizarre anomaly that is simply not going to last.

Conversely, that same dynamic doesn’t seem to exist with crypto related businesses.

And we talk about, in today’s podcast, Microstrategy, as perhaps the best example.

This is essentially now a Bitcoin holding company, with 478,000 Bitcoin, valued at around $45 billion. Yet Microstrategy’s market cap is almost double that.

So if the point is to buy Microstrategy stock as a proxy for Bitcoin, you’re actually paying double the price.

Versus with gold, we have the opportunity to pay less than two times forward earnings for gold companies that have an all in production cost of $1,500 per ounce— roughly half the price of gold.

So it’s a completely different dynamic, and we explore all this and more in today’s podcast.

We even talk about the Microstrategy convertible notes, and why it’s frankly wildly inappropriate at this point to even compare “crypto” and gold.

You can listen to the podcast here.

(For the audio-only version, check out our online post here.)

To your freedom, James Hickman Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/podcast/is-this-the-biggest-heist-of-all-time-podcast-152072/

DINARRECAPS8 2/11/25 DINARRECAPS8 2/11/25

Seeds of Wisdom RV and Economic Updates Tuesday Evening 2-11-25

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AFTER PAUSING BRICS, SAUDI ARABIA INVESTS $600 BILLION IN THE US

Saudi Arabia was invited to join BRICS in 2023 but the Kingdom is yet to provide a decision on accepting the invitation. It has kept the decision to join the alliance on hold as it’s conducting business deals with the US.

The Kingdom of Saudi Arabia is reluctant to join BRICS as it needs the support of the US and other Western countries to fulfill its Vision 2030 mission. Ending reliance on the US will only hamper its financial prospects and lead to economic stagnation.

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Therefore, after pausing BRICS, Saudi Arabia plans to invest $600 billion in the US over the next four years. Crown Prince Mohammed bin Salman told US President Donald Trump that the Kingdom wants to invest the amount and expand trade. MBS said that the investments would create “unprecedented economic prosperity” for Saudi Arabia and the US.

However, the Kingdom did not detail in which sector the $600 billion will be invested. They did not make it clear if it would be invested in the private or public sector and provided little to no information on how the money would be deployed. The US investments are closely watched by BRICS as the alliance wants Saudi Arabia to join the grouping.

BRICS: Saudi Arabia To Invest $600 Billion in the US

The Crown Prince of Saudi Arabia revealed that the investment could rise if more opportunities arise. This shows that the Kingdom is open to more investments and aims to diversify the money across many sectors.

The investment “could increase further if additional opportunities arise,” said MBS. More than extending close ties with BRICS, Saudi Arabia is extending its arms to the US instead.

Trump seems happy with the deal considering it a trade and commerce victory for the US. “I did it with Saudi Arabia last time because they agreed to buy $450 billion worth of our product.

I said I’ll do it but you have to buy American product, and they agreed to do that,” he said, referring to his 2017 visit to the Gulf kingdom. Considering all these factors, Saudi Arabia might not accept the BRICS invitation as it’s building close relations with the US.

@ Newshounds News™

Source: Watcher Guru

~~~~~~~~~

EU VOWS COUNTERMEASURES TO US TARIFFS. BOURBON, JEANS, PEANUT BUTTER, MOTORCYCLES ARE EASY TARGETS

BRUSSELS (AP) — U.S. tariffs on steel and aluminum “will not go unanswered,” European Union chief Ursula von der Leyen vowed on Tuesday, adding that they will trigger tough countermeasures from the 27-nation bloc. It means iconic U.S. industries like bourbon, jeans and motorcycles should beware.

“The EU will act to safeguard its economic interests,” von der Leyen said in a statement in reaction to U.S. President Donald Trump’s imposition of tariffs on steel and aluminum on Monday.

“Tariffs are taxes — bad for business, worse for consumers,”von der Leyen said. “Unjustified tariffs on the EU will not go unanswered — they will trigger firm and proportionate countermeasures.”

The EU trade minister scheduled a first emergency video meeting on the bloc’s response on Tuesday.

“It is also important that everyone sticks together. Difficult times require such full solidarity,” said Prime Minister Donald Tusk of Poland, which holds the EU presidency.

EU could target a range of US exports from motorcycles to whiskey
Just as Trump imposed similar tariffs during his first presidency, the EU countermeasures could easily amount to those that were used to retaliate then if the measures come into force March 12.

Bernd Lange, the chair of the European Parliament’s trade committee, warned that previous trade measures were only suspended and could legally be easily revived.

“When he starts again now, then we will, of course, immediately reinstate our countermeasures,” Lange told rbb24 German radio. ”Motorcycles, jeans, peanut butter, bourbon, whiskey and a whole range of products that of course also affect American exporters” would be targeted, he added.

The EU Commission, which negotiates trade relations on behalf of the bloc, said it is not clear what countermeasures would apply, but officials and observers have said they would target Republican states and traditionally strong U.S. exports.

In Germany, the EU’s largest economy, Chancellor Olaf Scholz told parliament that “if the U.S. leaves us no other choice, then the European Union will react united,” adding: “Ultimately, trade wars always cost both sides prosperity.”

European steel will be hard hit in trade war

European steel companies are bracing for losses.

“It will further worsen the situation of the European steel industry, exacerbating an already dire market environment,” said Henrik Adam, president of the Eurofer European steel association.

He said the EU could lose up to 3.7 million tons of steel exports. The United States is the second biggest export market for EU steel producers, representing 16% of the total EU steel exports. “Losing a significant part of these exports cannot be compensated by EU exports to other markets.”

Trump is hitting foreign steel and aluminum with a 25% tax in the hope that they will give local producers relief from intense global competition, allowing them to charge higher prices.

EU Commission Vice President Maroš Šefčovič said that the tariffs are “economically counterproductive, especially given the deeply integrated production chains established through our extensive transatlantic trade and investment ties.”

“We will protect our workers, businesses and consumers,” Šefčovič said, but added that “it is not our preferred scenario. We remain committed to constructive dialog. We stand ready for negotiations and to find mutually beneficial solutions where possible.”

The EU estimates that the trade volume between both sides stands at about $1.5 trillion, representing some 30% of global trade. “There is a lot at stake for both sides,” he told the EU legislature.

While the bloc has a substantial export surplus in goods, it says that is partly offset by the U.S. surplus in the trade of services.

The EU says that trade in goods reached 851 billion euros ($878 billion) in 2023, with a trade surplus of 156 billion euros ($161 billion) for the EU. Trade in services was worth 688 billion euros ($710 billion) with a trade deficit of 104 billion euros ($107 billion) for the EU.

@ Newshounds News™

Source: AP News

~~~~~~~~~

REDOTPAY PARTNERS STRAITSX, VISA TO LAUNCH CRYPTO CREDIT CARD

RedotPay teams up with Visa and StraitsX to launch a crypto credit card in Singapore, bridging digital assets with traditional finance

RedotPay has formed a strategic collaboration with Visa and StraitsX to launch a crypto credit card in Singapore.

By leveraging RedotPay’s advanced technology and Visa’s extensive global payment network, the partnership aims to bridge the gap between digital assets and traditional financial systems.

@ Newshounds News™

With Gold At an All Time High

With Gold At an All Time High, This Gold Company is Still Insanely Cheap

Notes From The Field By James Hickman (Simon Black) February 10, 2025

And almost on cue, gold is at another all time high today and rapidly closing in on $3,000 per troy ounce.

It’s not hard to understand why.

We’ve been talking about this for quite some time— foreign governments, central banks, and even some large foreign corporations now are trading their dollars for gold. And that’s going to have some unfortunate, negative consequences for the US.

With Gold At an All Time High, This Gold Company is Still Insanely Cheap

Notes From The Field By James Hickman (Simon Black) February 10, 2025

And almost on cue, gold is at another all time high today and rapidly closing in on $3,000 per troy ounce.

It’s not hard to understand why.

I’m sincerely pulling for Elon and DOGE. I really am. And I think they’ve got a great shot at cutting hundreds of billions of dollars from the federal budget. These guys aren’t messing around and have no qualms about cutting everything that doesn’t make sense.

I also hope Congress and the White House find the courage to make critical reforms to Social Security (though I am less optimistic about that one).

And the final piece to the puzzle of getting America back on track, of course, is slashing regulation and getting back to capitalism. There certainly seems to be a lot of momentum in this direction.

The math is pretty clear: if they manage to succeed at these key challenges, then there is a good chance for the US to grow its way out of debt. But even that is going to take many, many years.

In the meantime the Treasury Department will still need to rely heavily on foreigners to buy (and continue to hold) US government bonds.

I’ve explained before that foreigners own roughly half of all fixed-rate, “marketable” US government debt. So they’re a pretty important lender.

And in order for this turnaround plan to work, the Treasury Department will need those foreign bondholders to keep investing and reinvesting in America’s national debt.

But right now there are a lot of foreign countries that are deeply concerned about holding US Treasury securities. This administration has already threatened even its friends and neighbors with tariffs, and the last administration had an endless fetish for sanctions.

Think about it like this: imagine you hold a good chunk of your money in a faraway bank, and your banker was constantly threatening to freeze your account and cut off access to your funds.

Sure, maybe it’s a very nice and prestigious bank. But after so many threats, would you still keep all of your money there? Would you still want your paycheck direct deposited into that bank, month after month? Or would you start looking around at alternatives?

That’s what’s driving the gold price right now. Foreign governments and central banks are wary about holding official US securities, gold is the most viable alternative. Just like dollars, gold has universal marketability— no central banker is worried about whether they’ll ever be able to sell their gold.

Plus virtually every other government and central bank owns gold, which means it can already be used to settle current and capital account deficits if necessary.

Concern over sanctions, inflation, and America’s gargantuan national debt led foreign officials to buy up more gold over the past couple of years. Overall, they made roughly $80 billion in excess gold purchases in 2023-2024, causing the gold price to jump from about $1,800 to over $2,900.

$80 billion is a drop in the bucket for foreign governments and central banks; they have 100x that much worth of US dollar reserves.

So if $80 billion of excess purchases resulted in a $1,000+ price jump in the gold price, what will happen if they buy $1 trillion or more in gold? That’s the potential scenario that could play out.

Either way, gold is at an all-time high today. But, quite bizarrely, gold-related companies are still at ridiculously cheap levels.

To give you an example, there is a company we presented not long ago to subscribers of The 4th Pillar, our premium investment research service; it’s a profitable gold company with an excellent, clean balance sheet, very little debt, and strong growth. In fact the company even pays a healthy dividend to shareholders.

Yet when we published our research on the company, it was only valued at a mere 5x Free Cash Flow. That’s practically nothing.

The stock has now more than doubled in price as some investors are starting to realize what we discovered and presented to our subscribers many months ago.

But even now, because current and projected earnings have continued to increase, the company is still extremely undervalued even though it doubled in price.

We still see a number of similar opportunities, i.e. gold-related businesses that may be paying strong dividends, have debt-free balance sheets, and are profitable, yet still trade at outrageously low valuations despite gold’s all-time high.

Another report we sent out to our premium subscribers just last week profiled an undervalued gold mining company that has an all-in production price of just $1,500 per ounce. And yet the business is valued at TWO times its expected earnings this year.

It’s really unusual to see such an anomaly, and it almost certainly will not last.

To your freedom, James Hickman Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/trends/with-gold-at-an-all-time-high-this-gold-company-is-still-insanely-cheap-152066/

DINARRECAPS8 2/11/25 DINARRECAPS8 2/11/25

Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 2-11-25

Good Afternoon Dinar Recaps,

JUST IN: JEROME POWELL AGREES TO WORK WITH LAWMAKERS TO ADDRESS CRYPTO DEBANKING

In a bold move, Federal Reserve Chair Jerome Powell has called for a “fresh look” at debanking, following criticism that the crypto industry is being denied access to banking services.

Powell Agrees to Help End Crypto Debanking

Good Afternoon Dinar Recaps,

During a Senate Banking Committee hearing on Tuesday, Tim Scott, the committee’s Chair, asked Jerome Powell if he would work together to ensure that financial regulations are fair and don’t impose unnecessary burdens, to which Powell agreed to collaborate with Tim Scott, stating that the Federal Reserve aims to avoid unnecessary burdens. Powell said that he is “struck” by the increasing number of Bitcoin and crypto firms being debanked.

He also emhasized that it’s important to re-evaluate the issue of debanking. “We don’t intentionally do these things, but sometimes regulation leads things to happen and we need to be working on that,” Powell added. Scott also asked Powell if he would commit to collaborating with lawmakers to end debanking, to which Powell agreed, saying “yes.”

Crypto debanking is once again a hot topic in Washington, with lawmakers holding hearings and launching investigations into the issue. Last week, both the House and Senate held two hearings to address the concern.

Fed Not In A Hurry To Cut Rates

Furthermore, Powell has emphasized that the US central bank is “in no hurry” to reduce interest rates, despite pressure from Donald Trump to lower borrowing costs in the world’s largest economy.

“With our policy stance now significantly less restrictive than it had been and the economy remaining strong, we do not need to be in a hurry to adjust our policy stance.” he noted.

This statement follows the Fed’s decision last month to keep the federal funds target range at 4.25-4.5%, after three consecutive rate cuts that lowered it by 1 percentage point. Most investors expect US rates to stay steady until around May or June this year.

Furthermore, Powell also confirmed that the Fed will not create a Central Bank Digital Currency (CBDC) under his leadership.

@ Newshounds News™

Source: Coinpedia

~~~~~~~~~

BANKS EXPAND CRYPTO TIES TO CAPTURE IPO DEALS UNDER TRUMP: REPORT

Wall Street banks are pushing to land crypto IPO deals as Trump works to make the U.S. a crypto hub.

Big banks are looking to make more money more with crypto firms as initial public offering opportunities loom, Bloomberg reports, citing people familiar with the matter.

According to a Feb. 10 report, Morgan Stanley is now actively seeking crypto clients, while Bank of America is considering more deals, and Royal Bank of Canada wants to expand its crypto portfolio.

The spark of interest comes as exchanges like Gemini and Bullish consider going public. Kraken and stablecoin issuer Circle have also explored public listings before.

Banks are eager to grab these deals as the Donald Trump administration hints at loosening regulations to make the U.S. a crypto leader. At the Bitcoin 2024 Conference, Trump promised that, if elected, he would make the United States the “crypto capital of the planet.”

Bullish once planned to go public in a $9 billion SPAC deal with Far Peak Acquisition. However, in 2022 the exchange dropped the idea.

Former CEO Brendan Blumer said the deal was called off because the process was taking “longer than expected.” Bank of America is also preparing for more crypto deals, though specifics remain unclear.

Meanwhile, Swedish fintech giant Klarna is making a big push into crypto ahead of its April IPO. As crypto.news reported earlier, Klarna CEO Sebastian Siemiatkowski shared plans on X to add crypto to the platform. With a potential $15 billion valuation, Klarna’s IPO could be one of the biggest this year.

@ Newshounds News™

Source: CryptoNews

~~~~~~~~~

SWEDISH FINTECH GIANT KLARNA WILL ‘EMBRACE CRYPTO,’ CEO SAYS

Klarna, a Swedish payments firm with 85 million users, is reportedly eyeing a US initial public offering — and its CEO is looking for ideas on how it can integrate digital assets.

This comes as Klarna is preparing for an initial public offering in the US, the Financial Times reported.

@ Newshounds News™

Read more: CoinTelegraph

~~~~~~~~~

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Dinar Recaps 20 2/11/25 Dinar Recaps 20 2/11/25

Global Gold Shortage Brewing? Real Reason Behind Gold Flooding out of London to US

Global Gold Shortage Brewing? Real Reason Behind Gold Flooding out of London to US

Kitco News: 2-10-2025

Gold is on a tear, shattering price records and sparking speculation about its future trajectory. But behind the headlines about surging values, a crucial shift is underway in the physical gold market, raising critical questions about supply, central bank influence, and potential vulnerabilities in the global financial system.

According to Josh Phair, Founder & CEO of Scottsdale Mint, these physical movements, particularly the significant transfer of gold from London to the U.S., are a key indicator of the forces driving the current rally. Speaking with Kitco News, Phair dissected the intricate factors at play, including China’s burgeoning influence and the possibility of a looming gold shortage.

Global Gold Shortage Brewing? Real Reason Behind Gold Flooding out of London to US

Kitco News: 2-10-2025

The movement of substantial gold reserves from London, historically a major trading hub, to the U.S. signals a potential shift in power and confidence.

Phair suggests this could be driven by a perception of greater security and stability within the U.S. financial system, or perhaps a strategic positioning in anticipation of future market trends. It also begs the question: is there a rising concern about available gold in London to meet existing obligations? This movement adds fuel to the fire of potential supply constraints.

China’s recent unveiling of a $27 billion gold investment policy is a significant catalyst. This move, Phair emphasizes, is not just about boosting China’s reserves; it has far-reaching implications for the BRICS nations (Brazil, Russia, India, China, and South Africa) and the global economy as a whole. By aggressively accumulating gold, China is solidifying its position as a counterweight to the U.S. dollar and potentially paving the way for a future where gold plays a more prominent role in international trade and reserve management.

The question of a gold shortage is hotly debated. While some dismiss it as mere speculation, Phair contends that the significant physical movements, coupled with increased demand from central banks and individual investors, are creating genuine pressure on supply. The time it takes to discover, mine, and refine new gold is substantial, creating a potential lag between demand and supply.

Central banks, particularly those of China, Russia, and Turkey, are playing a vital role in reshaping the gold market. Their continued accumulation of gold is not just a diversification strategy; it’s a strategic move to de-dollarize their economies and gain greater independence from traditional Western financial institutions. This coordinated effort is adding immense pressure on the available supply and contributing significantly to the price surge.

While the U.S. Treasury Secretary’s stance on gold remains a closely watched indicator, the potential for a revaluation of gold should not be discounted. Some argue that a revaluation could be necessary to restore stability to the global financial system and address the growing debt burden of many nations. While a revaluation is a complex and controversial topic, it remains a possibility that could significantly impact the future of gold.

Despite gold prices reaching record highs, gold stocks have been surprisingly underperforming. Phair suggests this disconnect could be due to various factors, including investor skepticism about the sustainability of the rally, concerns about the operational challenges faced by mining companies, and the overall volatility of the stock market.

The current gold market is characterized by unprecedented volatility, significant physical shifts, and growing geopolitical influence. China’s aggressive gold policy, coupled with rising demand from central banks and potential supply constraints, paints a complex and potentially transformative picture.

While the future remains uncertain, one thing is clear: gold is no longer just a safe-haven asset; it’s a key player in a rapidly evolving global financial landscape. Investors and policymakers alike need to pay close attention to these developments as they navigate the challenges and opportunities that lie ahead.

https://youtu.be/c3l0gfv_gO4

DINARRECAPS8 2/11/25 DINARRECAPS8 2/11/25

Seeds of Wisdom RV and Economic Updates Tuesday Morning 2-11-25

Good Morning Dinar Recaps,

GRAYSCALE FILES FOR CARDANO ($ADA) SPOT ETF WITH NYSE ARCA

The Feb. 10 SEC filing proposes listing and trading shares of the Grayscale Cardano Trust, making it the first standalone ADA investment product in the U.S.

Grayscale Investments has officially filed for a Cardano ($ADA) exchange-traded fund (ETF) with NYSE Arca, marking a significant step toward institutional adoption of the blockchain’s native asset.

The filing, submitted as a proposed rule change (Form 19b-4) to the U.S. Securities and Exchange Commission (SEC) on February 10, seeks approval to list and trade shares of the Grayscale Cardano Trust as a spot ETF.

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If approved, this would be Grayscale’s first standalone Cardano investment product and the first spot ADA ETF in the U.S. market.

Institutional Partners and Market Reaction

According to the filing, the Coinbase Custody Trust Company would serve as the custodian for the ETF’s assets, while BNY Mellon Asset Servicing would act as its administrator. The Delaware Trust Company has been named as the trustee.

A Cardano ETF would allow institutional and retail investors to gain regulated exposure to ADA without directly purchasing or storing the cryptocurrency. It would also add credibility to Cardano as an investment asset and open the door for broader adoption in traditional finance.

Grayscale is already a major player in the crypto ETF market, managing products like the Grayscale Bitcoin Trust ETF and Grayscale Ethereum Trust ETF. Adding Cardano to its lineup would further diversify its offerings and provide investors with more blockchain-based investment options.

Regulatory Hurdles and Market Landscape

So far, the SEC has only approved spot ETFs for Bitcoin and Ethereum. Other cryptocurrencies, including Solana (SOL) and XRP, have faced delays due to regulatory uncertainty. The SEC previously classified ADA as a security in its 2023 lawsuits against Binance and Coinbase, which could pose additional challenges for approval.

Despite these hurdles, interest in crypto ETFs continues to grow. Recent filings for XRP, Solana, Dogecoin, and Litecoin ETFs suggest that more assets could soon enter the regulated investment space.

Cardano Joins the Growing ETF Race

Grayscale’s move follows a wave of crypto ETF applications in recent months:

XRP Spot ETFs:

WisdomTree, Bitwise, 21Shares, and Canary Capital submitted four 19b-4 applications to the SEC.

Bitwise filed an initial spot XRP ETF application in October 2024.

WisdomTree launched the Physical XRP ETP (XRPW) in Europe.

Cardano Exchange-Traded Products (ETPs):

Virtune AB launched a Cardano ETP on Nasdaq Helsinki in February 2025.

Tuttle Capital filed for a 2x leveraged ADA ETF in January 2025.

Worth noting, Grayscale is also working to convert its XRP Trust into an ETF.

@ Newshounds News™

Source: BSC News

~~~~~~~~~

BRICS: RUSSIA AND INDIA CUT DOLLAR USE: 90% OF DIRECT TRANSACTIONS IN NATIONAL CURRENCIES

Russia and India now conduct nearly 90% of direct transactions in their national currencies, deepening financial ties and accelerating the global shift away from the U.S. dollar.

Moscow and New Delhi Tighten Financial Ties—Is the Dollar Era Ending?

Countries worldwide are increasingly shifting away from reliance on the U.S. dollar in international trade, a process known as dedollarization. Russia and India have strengthened their financial cooperation, with nearly 90% of direct transactions now conducted in their respective national currencies.

Russian Ambassador to India Denis Alipov stated in an interview with Tass:

Mutual payments in national currencies are stable. As of today, national currencies account for around 90% of direct payments between Russia and India.

He also noted that discussions are ongoing about the mutual recognition of Russia’s Mir and India’s RuPay payment systems, a step that could further enhance financial integration between the two countries.

Trade between Russia and India has continued to expand, with Indian statistics showing an 8.6% increase in the first 11 months of 2024. “According to Indian statistics, bilateral trade added 8.6% in 11M 2024 and amounted to $64.5 bln,” Alipov said.

He further detailed the contributions from each country, emphasizing: “Russian exports reached $60 bln (up by 7.7%), while supplies of Indian goods rose to $4.5 bln (up by 23.3%).

Russia is one of India’s four biggest trade partners, while in terms of the volume of products supplied it is the second-largest after China.” These figures highlight Russia’s growing importance as a key trading partner for India.

The increasing use of national currencies in trade between Russia and India reflects a broader global shift toward reducing dependence on the dollar amid evolving geopolitical and economic conditions.

As both countries work to integrate their financial systems, the potential recognition of the Mir and Rupay payment networks could simplify trade settlements and further strengthen economic ties between Moscow and New Delhi. With Russia securing its position as India’s second-largest supplier after China, these developments signal deeper financial and trade cooperation between the two nations.

@ Newshound News™

Source: Bitcoin News

~~~~~~~~~

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DINARRECAPS8 2/10/25 DINARRECAPS8 2/10/25

Seeds of Wisdom RV and Economic Updates Monday Evening 2-10-25

Good Evening Dinar Recaps,

REP. WATERS PROPOSES STABLECOIN RULES, FEDERAL OVERSIGHT

Both House Republicans and Democrats have introduced proposals to regulate U.S. stablecoins, signaling that the sector is a legislative priority under President Donald Trump.

Maxine Waters, the ranking Democrat on the House Financial Services Committee, published a proposal for stablecoin oversight through federal watchdogs such as the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Federal Reserve, according to Punchbowl News.

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Waters’ discussion draft also outlines regulatory frameworks for state regulators. Back in 2022, Rep. Waters criticized a Republican-led House Committee bill, calling it “deeply problematic” due to concerns over allowing state regulators to approve stablecoins without Federal Reserve oversight.

At the time, she argued before former Committee Chair Patrick McHenry that this approach could introduce unforeseen risks.

Rep. Waters’ proposal means that both Republican and Democratic lawmakers have now introduced stablecoin regulations since President Trump took office.

Last week, Rep. French Hill, the new Republican Chair of the House Financial Services Committee, submitted a draft bill for stablecoin regulation, co-sponsored by Rep. Bryan Steil. The bill would grant the OCC authority to approve and supervise payment stablecoin issuers.

Specifically, the OCC can license and oversee nonbank stablecoin operators with federal permits. The rules could allow firms like Ripple to enter the $220 billion market.

Rep. Hill’s bill contrasts with Rep. Waters’ proposal, as it assigns stablecoin oversight to the OCC rather than the Federal Reserve, which Waters had advocated. Waters previously stated that House lawmakers needed a “grand bargain on stablecoins” to move forward with regulation.

In the Senate, GOP Senator Bill Hagerty also introduced the “Guiding and Establishing National Innovation for U.S. Stablecoins” Act. Policymakers also unveiled a bi-cameral working group focused on passing crypto regulation at a press conference hosted by White House AI and crypto czar David Sacks.

@ Newshounds News™

Source: CryptoNews

~~~~~~~~~

BRICS: NEW NATION REJECTS DE-DOLLARIZATION AMID TRUMP TARIFFS

The last several weeks have seen geopolitical tensions growing. With both sides reaching a fever pitch, the BRICS has seen yet another nation reject de-dollarization amid the implementation of US President Donald Trump’s new tariffs. Indeed, the president is set to introduce new 25% import taxes Monday as his aggressive economic policy continues.

The move has propelled the US dollar upward, as it seems to reinforce faith in the greenback. However, its potential impact on the United States and the world economy remains to be seen.

All that is certain is that the country is setting the planet on course for a trade war that is wide in its scope and impact.

BRICS Sees Yet Another Country Reject De-Dollarization as Trump Tariffs Take Effect

En route to his campaign victory in November, Trump had championed the importance of the US dollar. Indeed, he noted that the greenback losing its status as the world’s currency would be akin to the nation losing a war.

This has driven his economic policy, as he looks to defend the nation’s currency against lessened international usage and thwart potential expansion of the idea.

To this point, it appears the aggressive stance is working. Indeed, a new BRICS nation has spoken out rejecting de-dollarization as Trump’s tariff plan begins to take effect. It joins nations like India in reassuring that the bloc’s operations are not directly tied to harming the US dollar.

Specifically, Indonesia’s chief economist, Josua Parde, recently confirmed it has no interest in targeting the greenback. Alternatively, its BRICS participation is merely tied to its own economic growth. Indeed, Pardede notes that the distinction between the two is of the utmost importance to the nation.

“We are entering BRICS not to support the de-dollarization of China and Russia but rather to expand trading partners,” Pardede said. “This de-dollarization that we are encouraging is to provide an option for the business world not to always depend on the dollar,” they added.

It will be interesting to observe how Trump responds. With his targeting of Mexico and Canada, things may have changed. Indeed, it appears that his economic policy may be less tied to the US dollar’s status than originally perceived. However, he could redirect his approach to BRICS. Instead, targeting nations actively seeking to decrease the value of the dollar in the coming weeks.

@ Newshounds News™

Source: Watcher Guru

~~~~~~~~~

PRO: NORTH CAROLINA’S STRATEGIC BITCOIN RESERVE BILL A ‘BIG DEAL’

Introduced by Rep. Destin Hall, Speaker of the NC House of Representatives, the bill would allow state lawmakers to invest up to 10% of the state’s funds into exchange-traded products tied to digital assets with a market capitalization exceeding $750 billion.

It also authorizes Bitcoin investments for state-managed funds, including teachers’ and state employees’ pensions, insurance funds, and veterans’ home trust funds.

@ Newshounds News™