Seeds of Wisdom RV and Economic Updates Wednesday Evening 4-2-25

Good Evening Dinar Recaps,

US DOLLAR DAYS ARE NUMBERED: 2 ALTERNATIVE ASSETS THAT COULD REPLACE USD

The US dollar is currently standing on the precipice of a radical change, a transformation that intends to strip the USD bare of its reserve currency status. The US dollar has been encountering steep fluctuations in its price, with major non-traditional reserve currencies giving stiff competition to the dollar.

With Trump’s rising trade war narratives, the US dollar has been suffering the most out of the lot, with new alternatives busy challenging the American currency’s dominance at a rapid pace. Will the US dollar be able to survive this new development? Let’s find out.

The World Order Is Changing: Will The USD Be Able To Withstand This Change?

It all started with a new statement made by Larry Fink, the CEO of financial giant BlackRock. Fink, in his annual company letter, shared a new analysis, adding how the US dollar could lose its dominance to Bitcoin. This statement made a pivotal impact on the current financial mindset of the world, where BTC seems to be taking the lead over major world assets.

“If the U.S. doesn’t get its debt under control, if deficits keep ballooning, America risks losing that position to digital assets like Bitcoin.” Fink shared

In addition to this, Deutsche Bank had also echoed a similar stance earlier, adding how US dollar dominance is currently in grave jeopardy.

“We do not write this lightly. But the speed and scale of global shifts are so rapid that this needs to be acknowledged as a possibility. It is hard to overestimate the scale of change taking place in global economic and geopolitical relations in a matter of days.” As stated by George Saravelos, the bank’s global head of FX strategy, in a note to clients.

The Trump administration has also shown a steadfast approach toward expediting crypto proceedings. Trump has recently announced a crypto reserve with coins like BTC, ETH, XRP, ADA, and SOL included in the lot.

The US government is also exploring stablecoins as capable instruments to keep the US dollar’s dominance intact. However, the fact cannot be denied that Bitcoin is now being viewed as digital gold, another safe haven asset that could protect investors from stark USD volatility.

Another Asset Threatens the American Currency’s Dominance

Apart from Bitcoin, the steady rise of gold is also damaging the US dollar’s prestige in the long haul. Central banks all over the world have lately been diversifying their reserves, hoarding gold aggressively in the process. This demand has spiked XAUs value to new highs, threatening the age-old established world order.

“According to the IMF figures not updated for 2024, central banks’ gold holdings have surged by roughly 200 million troy ounces (6,221 tonnes) from 2006 to 1.16 billion troy ounces, driven largely by China and Russia,” Richter wrote. “The increases in China and Russia alone represent nearly 60% of the total increase since 2006. “ In dollar terms, these gold holdings at today’s price amount to $3.65 trillion.” As stated by Wolf Richter, Kitco writer and Wall Street analyst.

With Trump’s decision to announce further tariffs on April 2nd, the world could again witness sharp dollar volatility if the tariff spree escalates the global trade war narrative. With this, the investor sentiment could continue to favor Bitcoin and gold as safe haven assets, detailing the US dollar further in the process.

@ Newshounds News™
Source:  Watcher Guru

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BRICS: HERE’S HOW TRUMP’S RECIPROCAL TARIFFS WILL IMPACT THE US DOLLAR

Since his return to the White House, US President Donald Trump has sought to end global de-dollarization. In pursuit of that, he has targeted the BRICS alliance with 150% tariffs, as Trump is now set to levy reciprocal tariffs on the entire world, with the US dollar bound to be affected.

Since his election win in late 2024, he has placed a massive target on the BRICS bloc. Specifically, he sought to end any talks of local currency promotion within the global south. However, this move is less about the status of the greenback and more about balancing global trade. So, what impact will it have on the asset?

BRICS & The World to Face Trump Tariffs on US ‘Liberation Day’: How Will the US Dollar Respond?

US President Donald Trump has been hyping up his April 2nd announcement as the country’s ‘Liberation Day.’ The administration is set to unveil a string of tariffs that seek to balance global trade, with nations like Israel and India already announcing an end to their tariffs on US goods to curtail the action.

Now, more than just the BRICS bloc is targeted by these Trump reciprocal tariffs, so the question is, just what will they do to the US dollar? Indeed, the returning president has continuously sought to secure the greenback’s status. Yet, the economic policy is bound to affect it internationally.

Rather surprisingly, the US dollar is expected to stabilize over the coming months, according to a Reuters report. However, it is still set to be affected by “mounting worries about the economic impact of President Donald Trump’s erratic tariff announcements,” strategists told the publication.

“Over one-third of strategies surveyed in the past few days also expressed concern about the greenback’s traditional role in the currency market as a safe haven,” they added. Indeed, the aggressive policy could threaten the currency in a myriad of ways.

Just this week, BlackRock CEO Larry Fink expressed concern regarding the US dollar’s status. Specifically, he noted that Bitcoin’s rise could affect it. Interestingly enough, Trump has been the driving force of that rise. Altogether, the dollar could be subject to increased pressure, proving the BRICS bloc right in its continued de-dollarization efforts.

@ Newshounds News™
Source:  Watcher Guru

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SUMMARY OF PRESIDENT TRUMP'S RECIRPOCAL TARIFF ANNOUNCEMENT:

1. Tariffs imposed on 50+ countries in announcement

2. Tariffs are 50% of rates imposed on US, by country

3. 10% baseline tariff on all countries worldwide

4. 25% auto tariffs on all foreign made vehicles

5. Trump says tariffs will "give the US growth"

6. Trump plans to announce "largest tax cut in US history"

7. Baseline tariffs go into effect April 5th

8. Reciprocal tariffs go into effect April 9th

This is the largest tariff announcement in US history.

@ Newshounds News™

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The Collapse Is Here: The Final Stage for Fiat | Larry Lepard

The Collapse Is Here: The Final Stage for Fiat | Larry Lepard

Kitco News:  4-2-2025

Is America on the brink of a monetary collapse – and could sound money like gold and Bitcoin be our only way out?

Veteran investor and sound money advocate Lawrence Lepard joins Kitco News anchor Jeremy Szafron to discuss the collapse of the U.S. monetary system, as outlined in his new book, The Big Print:

What Happened to America and How Sound Money Will Fix It. Lepard warns that decades of monetary mismanagement, endless money printing, and artificially low interest rates have pushed the financial system to the edge.

With U.S. debt now exceeding 120% of GDP, Lepard says a sovereign debt crisis is inevitable. “The government is trapped and has to keep printing money,” he tells Kitco. Key Topics:

Why the current monetary system causes wealth inequality

How fiat money “steals from working people”

Why he believes we’re deep into the Fourth Turning

The mechanics of the coming “debt doom loop”

Why Bitcoin is the “most asymmetric bet” he’s seen

Why gold is signaling the failure of fiat

His bold proposal to abolish the Fed and restore sound money

00:00 Introduction

 01:27 The Core Idea of 'The Big Print'

01:42 The Broken Monetary System and Wealth Inequality

03:51 The End Game of the Monetary Experiment

10:15 The Everything Bubble

13:21 Critique of the Federal Reserve

18:06 Inflation and Government Deception

 24:12 The Fourth Turning Theory

 26:29 The Future of Sound Money

27:19 The Debt Doom Loop Explained

30:31 Comparing Post-WWII Growth to Today

32:21 Bitcoin: The Asymmetric Bet

40:40 Gold's Resurgence and Market Dynamics

 43:33 A Vision for Monetary Reform

51:19 Final Thoughts

https://www.youtube.com/watch?v=gAipoqRmDW4

Some “Iraq News” Posted by Clare at KTFA 4-2-2025

KTFA:

Clare:  Mazhar Muhammad Salih: The urban renaissance continues thanks to the three-year budget.

4/2/2025

The Prime Minister's financial advisor, Mazhar Mohammed Salih, confirmed that the financial and legal flexibility provided by the budget law (the three-year budget), in accordance with the amended Financial Management Law No. 6 of 2019, has enabled the executive authority to implement its government service program without interruption, which has contributed to achieving a continuous urban renaissance in all governorates of the country.

 Saleh explained to Al Furat News Agency that "the 2025 financial tables, which will soon be submitted to the House of Representatives in accordance with Article 77/Second of the Triennial Budget Law, will include some important adjustments in spending, revenue sources, and deficit management, especially after the House of Representatives approved, in early February, the amendment to Article 12 of the law, related to the mechanisms for calculating the extraction of Kurdistan Region oil in the areas of production and transportation."

He pointed out that "the financial track is proceeding smoothly and with a high level of governance, transparency, and financial integrity, through coordination between the legislative and executive authorities."

From.. Raghad   LINK

Clare:  Iraq's foreign reserves rise to a record high

4/2/2025

 The Prime Minister's financial advisor, Mazhar Mohammed Salih, confirmed on Wednesday that foreign reserves are at their highest historical levels, helping to achieve economic balance and stability for the country. He also indicated that reserves still cover more than 100% of the currency in circulation.

Saleh said in a press statement: “The slight decline in the Central Bank’s reserves, estimated at 1% of the country’s total foreign reserves, is linked to two factors: First, the increased level of foreign currency reinforcements provided by the Iraqi banking system to its correspondents abroad for the purposes of financing trade and external transfers, which led to a significant decline in the dollar exchange rate against the dinar in the parallel market and an increase in the value of the dinar in that parallel market.”

He explained that "control over domestic liquidity levels has become high, significant, and influential in light of the increasing external value of the dinar, which continues to indicate a decline in the effectiveness of the parallel or secondary market in the country. There has also been a very clear decline in growth rates in the general price level and a very high level of price stability, unlike anything the country has ever witnessed before."

 He added, "The other issue depends on the degree of growth in the amounts in which the public finances exchange monthly oil revenues in foreign currency for the dinar for the benefit of total spending (which is the basis of foreign reserves) and converting them into Iraqi dinars," noting that "this is also linked to the degree of discipline and control of public expenditures on the one hand, and thus the slowdown in the liquidation of government foreign currency proceeds into domestic liquidity that can be spent on the other hand through the general budget." 

He pointed out that "taking into account the risks of fluctuations in average export oil prices of about $70 or less per barrel in energy markets, which occurred in recent months, this means that the compatibility between the level of replenishment of foreign reserves (through collecting them through cash issuance), which may have become slower and less rapid on the part of public finance, and external transfers in foreign currency for the benefit of financing private sector trade on the part of the monetary authority, which is still at a relatively high pace, is what caused this deficiency or slight decline in foreign reserves."

Saleh continued, "Foreign reserves remain at their highest historical levels, achieving economic balance and stability for the country. The function of foreign reserves remains to defend price stability. However, it is also wise for the Central Bank of Iraq to closely monitor the movements of the current account of the balance of payments to maintain the stability of foreign reserves and monitor their growth safely." 

He stressed that "these foreign reserves still cover more than 100% of the currency in circulation and enjoy a high commercial efficiency of more than 15 months of imports, compared to the global standard of three months." He added that "the monetary authority is the only competent entity responsible for managing the country's monetary policy at the domestic and external levels, with a high degree of consensus in terms of balance and transparency to
achieve and maintain economic stability."   LINK

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

Clare: The performance of the Iraqi banking sector during the year: decline in some indicators and growth in others.

4/2/2025- Baghdad

The Iraqi banking sector witnessed significant changes in its financial indicators over the past year, according to published data. These data reflect the performance of commercial banks, cash flows, dollar purchases and sales, and the policies of the Central Bank.

Commercial banks: decline in some assets and growth in private deposits

Data showed a 0.92% decline in commercial bank assets, falling from KWD 205.25 trillion at the end of 2023 to KWD 203.36 trillion at the end of 2024. Current deposits also declined by 9.38%, while private deposits increased by 10.63%, indicating increased consumer confidence in private banks compared to traditional current deposits.

Dollar movements: Central bank purchases drop sharply

The Central Bank's dollar purchases recorded a significant decline of 61.97%, falling from $8.35 billion to $3.18 billion. In contrast, cash dollar sales saw a slight decline of 0.92%, reflecting a decline in demand for hard currency in local markets.

Cash: A decrease in the money supply and a decline in the issued currency reserves

The issued currency decreased by 1.36%, while cash outside banks decreased by 10.26% to 130.35 trillion dinars, compared to 145.26 trillion dinars the previous year. The ratio of required reserves to issued currency also decreased from 143.14% to 129.64%, indicating a decrease in cash liquidity available in the market.

Central Bank: Increase in loans and decrease in gold reserves

Loans granted to small and medium enterprises (SMEs) saw a significant increase of 47.02%, reflecting a trend toward supporting economic development through project financing. Meanwhile, gold reserves fell by 8.69% to 189.90 trillion dinars, compared to 207.96 trillion dinars last year.

Inflation and exchange rate: a significant decline

The inflation rate fell by 35.56%, from 4.50% to 2.90%, reflecting improved price stability. The exchange rate on the parallel market also declined by 1.32%, indicating relative stability in the value of the dinar against the dollar.  LINK

Clare:  The Director General of Rafidain Bank identifies the importance of the AML system in enhancing financial transparency.

The Director General of Rafidain Bank, Dr. Ali Al-Fatlawi, highlighted the importance of the AML system in enhancing financial transparency, while pointing out that the bank has taken important strategic steps in the field of combating money laundering and terrorist financing.

The Director General of Rafidain Bank, Dr. Ali Karim Hussein, said that in light of the escalating challenges associated with financial crimes at the global level, anti-money laundering (AML) systems have become a top priority for financial institutions and governments.

As a cornerstone in protecting the integrity of financial markets and promoting economic stability, he stated, "With countries committed to implementing strict international standards in this area, Rafidain Bank stands out as a leading Iraqi financial institution that has adopted the latest monitoring and compliance systems, strengthening Iraq's position in the global financial system."

Regarding the importance of the anti-money laundering system and its role in financial stability, Al-Fatlawi explained that "money laundering poses a direct threat to economic systems, as it enables illegal activities to integrate into the financial system, leading to monetary instability and weakening economic policies."

He added, "For this reason, financial institutions implement strict measures to ensure compliance with international standards, such as the Financial Action Task Force (FATF) recommendations, which establish a comprehensive framework to combat these financial crimes."

He pointed out that "the Anti-Money Laundering (AML) system aims to prevent, analyze, and detect suspicious financial activities through mechanisms that include:

- Know Your Customer (KYC) verification to ensure knowledge of the true sources of funds;
- Monitoring financial transactions to detect any unusual activity;
- Immediate reporting of suspicious transactions to regulatory authorities;
- Using modern technology in financial analysis to enhance the efficiency of detecting illegal activities."

He continued, "These practices not only enhance the transparency of financial markets, but also contribute to raising countries' financial ratings and improving the business and investment environment," stressing that "there is significant support from the Anti-Money Laundering Office, and absolutely, through the development of the AML system."

He explained that "Rafidain Bank, as a banking institution with a major market share in Iraq, continues its pioneering role in developing the local banking structure in accordance with the latest international standards." He emphasized that "in recent years, the bank has taken important strategic steps in the field of combating money laundering and terrorist financing, reflecting its firm commitment to enhancing financial transparency and achieving full regulatory compliance."

Regarding the launch of the Daily Financial Transactions Monitoring (AML) system, he emphasized that "in a qualitative step, Rafidain Bank announced the launch of an advanced system to monitor daily banking transactions across its branches, making it the first Iraqi bank to adopt this supervisory approach in accordance with the latest global banking technologies."

He noted that "this project was implemented in partnership with specialized international institutions, as it aims to analyze and track all financial transactions in real time, contributing to enhancing the level of banking security and combating any illegal attempts at money laundering."

He explained that "the system included, in its first phase, six major branches of regulatory importance, including Al-Waziriya, Al-Muheet, Al-Rafie, Al-Dura Oil Complex, Zurbatiya, and Safwan, with the system to be gradually expanded to the remaining branches. This system is characterized by its ability to:

- Identify suspicious financial activities immediately, enabling rapid response;
- Analyze big data and its intersection with international sanctions lists, ensuring full compliance with regulatory standards;
- Improve financial audit efficiency by transitioning from paper-based operations to smart digital systems.

He pointed out that "this initiative confirms that Rafidain Bank is adopting a proactive approach to combating financial crimes, which strengthens its position as a trusted banking institution within Iraq, regionally, and internationally."

Regarding the economic and regional repercussions of adopting AML systems in Iraq, Al-Fatlawi explained, "Rafidain Bank's commitment to best practices in combating money laundering leads to strategic outcomes that extend beyond the bank itself to encompass the Iraqi economy as a whole.

Advanced banking systems that adopt advanced AML technologies enable:

- Achieving financial stability by preventing illicit money flows, which may negatively impact liquidity and price fluctuations.
- Strengthening international banking relations, as compliance with global standards enhances opportunities to establish partnerships with foreign correspondent banks, facilitating the smooth flow of money transfers and foreign investments.
- Stimulating foreign direct investment, as international investors seek safe financial environments free from regulatory risks.
- Improving Iraq's global financial reputation, which contributes to raising the rating of the Iraqi banking system with international financial institutions."

He continued, "Rafidain Bank is at the forefront of banking transformation, as the progress it has made in implementing anti-money laundering systems reflects its commitment to international standards and its keenness to protect the Iraqi banking sector."

He indicated that "by employing advanced financial technology, strict adherence to transparency, and integration with international regulatory systems, the bank continues its role as a pivotal financial institution in supporting financial integrity and economic stability."

 He went on to say, "As the digital transformation in the Iraqi banking sector continues, Rafidain Bank's experience represents a successful model of how to achieve a balance between regulatory compliance and technological development, paving the way for a more transparent and reliable banking future, both locally and internationally."

https://www.rafidain-bank.gov.iq/verify/index.php?url=/?article=142

Iraq Economic News and Points to Ponder Wednesday Afternoon 4-2-25

Government Advisor: The 2025 Budget Includes Significant Adjustments In Spending And Deficit.

Time: 2025/04/02  {Economic: Al Furat News} The Prime Minister's advisor for financial affairs, Mazhar Mohammed Saleh, confirmed that "the general budget amendments enhance stability and support the country's urban renaissance."

Saleh told Al Furat News Agency that: "The financial and legal flexibility available in the Federal General Budget Law No. 13 of 2023 (the three-year budget), in accordance with the implementation of the amended Financial Management Law No. 6 of 2019, has allowed the executive authority to proceed with the implementation of its government service program for ongoing projects without interruption and at a high level of stability."

He explained that "these efforts have been clearly reflected in all governorates of the country, as they are witnessing a continuous and organized urban renaissance." He pointed out that the financial tables for the year 2025 will soon be submitted to the Council of Representatives in accordance with Article 77/Second of the Three-Year Budget Law, which will include some important adjustments in spending, sources of public revenue, and deficit management."

He pointed out that these adjustments come after the Council of Representatives approved, in early February of the month before last, the amendment to Article 12 of the Budget Law, related to the mechanisms for calculating the extraction of oil from the Kurdistan Region in the areas of extraction and transportation operations.

The Financial Advisor emphasized that the financial track is proceeding regularly and effectively, with a high level of governance, transparency, and financial integrity, thanks to close coordination between the legislative and executive authorities.  LINK

Government Statement On Iraq's Foreign Reserves: At Their Highest Levels

Money and Business  Economy News – Baghdad   The Prime Minister's financial advisor, Mazhar Mohammed Saleh, confirmed on Wednesday that foreign reserves are at their highest historical levels, helping to achieve economic balance and stability for the country. He also noted that reserves still cover more than 100% of the currency in circulation.

“The slight decline in the Central Bank’s reserves, estimated at 1% of the country’s total foreign reserves, is linked to two things: First, the high level of reinforcements of the Iraqi banking system with foreign currency from their correspondents abroad for the purposes of financing trade and external transfers, which led to a significant decline in the exchange rate of the dollar in the parallel market against the dinar and an increase in the value of the dinar in that parallel market,” Saleh told the official agency, as followed by “Al-Eqtisad News.”

He explained that "control over domestic liquidity levels has become high, significant, and influential in light of the increasing external value of the dinar, which continues to indicate a decline in the effectiveness of the parallel or secondary market in the country.

There has also been a very clear decline in growth rates in the general price level and a very high level of price stability, unlike anything the country has ever witnessed before."

He added, "The other issue depends on the degree of growth in the amounts in which the public finances exchange monthly oil revenues in foreign currency for the dinar for the benefit of total spending (which is the basis of foreign reserves) and converting them into Iraqi dinars,"

 noting that "this is also linked to the degree of discipline and control of public expenditures on the one hand, and thus the slowdown in the liquidation of government foreign currency proceeds into domestic liquidity that can be spent on the other hand through the general budget."

He pointed out that "taking into account the risks of fluctuations in average export oil prices of about $70 or less per barrel in energy markets, which occurred in recent months, this means that the compatibility between the level of replenishment of foreign reserves (through collecting them through cash issuance), which may have become slower and less rapid on the part of public finance, and external transfers in foreign currency for the benefit of financing private sector trade on the part of the monetary authority, which is still at a relatively high pace, is what caused this deficiency or slight decline in foreign reserves."

Saleh continued, "Foreign reserves remain at their highest historical levels, achieving economic balance and stability for the country. The function of foreign reserves remains to defend price stability. However, it is also wise for the Central Bank of Iraq to closely monitor the movements of the current account of the balance of payments to maintain the stability of foreign reserves and monitor their growth safely."

He stressed that "these foreign reserves still cover more than 100% of the currency in circulation and enjoy a high commercial efficiency of more than 15 months of imports, compared to the global standard of three months."

 He added that "the monetary authority is the only competent entity responsible for managing the country's monetary policy at the domestic and external levels, with a high degree of consensus in terms of balance and transparency to achieve and maintain economic stability." https://economy-news.net/content.php?id=54025

An Iraqi Oil Field With Reserves Of 22 Billion Barrels Has Been Awarded A New Contract.

Energy  Economy News – Baghdad  An Iraqi oil field with recoverable reserves of approximately 22 billion barrels has been awarded a new contract to provide full project management services.

China Huanqiu Engineering & Construction Corporation (HQC) has signed a contract to provide project management services for the West Qurna 1 oil field in Iraq.

The West Qurna 1 field, located in Iraq's Basra Governorate, is one of the largest oil fields in Iraq, with recoverable reserves of approximately 22 billion barrels.

The field's proven reserves are estimated at more than 12 billion barrels, according to a statement posted by the Chinese company on the social media platform WeChat.

West Qurna Oil Field Production

Since CNPC took over as prime contractor from ExxonMobil on January 1, 2024, the West Qurna field has maintained an average production of over 541,000 barrels per day of crude oil throughout the year.

Production reached a record high of 568,000 barrels per day on July 28 of last year (2024), according to Huanqiu Engineering and Contracting Company.

On January 22, 2025, the signing ceremony for the West Qurna-1 oilfield water injection project was successfully held at the headquarters of China Petroleum Engineering and Construction Corporation (CPECC).

This project is the largest engineering, procurement, and construction (EPC) contract since the company assumed the role of prime contractor for the West Qurna 1 oil field project, according to a statement seen by Energy Platform.

This initiative introduces advanced high-pressure water injection technology, using the latest water treatment and reinjection systems, to maintain optimal reservoir pressure and enhance production efficiency.

The implementation strategy consists of two phases, focusing on upgrading existing facilities and establishing new water injection infrastructure. The completed facility will significantly increase water injection capacity from 300,000 barrels per day to 1.5 million barrels.

Iraqi Oil Field Developments

On January 1, 2025, China National Petroleum Corporation (CNPC) held a groundbreaking ceremony for the new operations headquarters for the West Qurna 1 project in Basra, Iraq's second-largest city and a major port.

Oil Minister Hayan Abdul-Ghani announced via video link that the field's production has now reached 550,000 barrels per day, praising the Chinese company for providing job opportunities and adequate services to local communities.

The new complex extends over an area of ​​800,000 square meters, with a total construction area of ​​approximately 50,000 square meters. It is scheduled for completion in two phases, the first in 2027 and the second in 2028.

The first phase will accommodate 540 employees and include two production command buildings, a restaurant, a multi-purpose building, a medical clinic, a maintenance workshop, and other support facilities.

Laying the foundation stone for the new operations headquarters for the West Qurna oil field project - Photo from the China Daily platform

In a press release reviewed by Energy Platform, the China National Petroleum Corporation announced that it had successfully completed the handover of seven fields within six months, with all fields fully delivered.

By last year (2024), average annual production had risen to 541,000 barrels per day, and production stabilized at 550,000 barrels per day, reaching a record peak of 568,000 barrels on July 28, 2024.

In 2025, the successive operation of four major projects will contribute to increasing production capacity by 200,000 barrels per day.

"We expect production capacity to reach 800,000 barrels per day by 2028, 1 million barrels per day by 2030, and in the next phase, 1.2 million barrels per day by 2035," said project manager Kai Kai Ping https://economy-news.net/content.php?id=54033

New Rise In Basra Crude Prices

Wednesday, April 2, 2025 | Economic Number of reads: 209   Baghdad / NINA / The prices of Basra heavy and medium crude oil rose on Wednesday, with the stability of oil prices in global markets.

The prices of Basra heavy crude rose 76 cents, or 1.07%, to reach $72.04, and the prices of medium crude rose 76 cents to reach $75.09.

Oil prices stabilized before Trump imposed new tariffs that could deepen the global trade pocket.
Brent crude recorded $74.60, up 10 cents, and US crude recorded $71.26, up 3 cents. / End

https://ninanews.com/Website/News/Details?key=1195312

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Wednesday Morning 4-2-25

Good Morning Dinar Recaps,

CRYPTO-BACKED CANDIDATES WIN FLORIDA SPECIAL ELECTION, HEAD TO U.S. HOUSE

Two Republican candidates supported by the crypto-funded political action committee Fairshake have secured seats in the US House of Representatives following special election in Florida, marking a notable win for the digital asset industry.

Jimmy Patronis emerged victorious in Florida’s 1st Congressional District, defeating Democrat Gay Valimont with 57% of the vote, according to Associated Press data.

Meanwhile, Randy Fine clinched the 6th District seat with 56.7% support, overcoming public school teacher Josh Weil. These elections filled vacancies left by Matt Gaetz and Mike Waltz, respectively—the latter recently taking up a post as White House national security adviser.

GOP Tightens Grip on Long-Held Florida Districts Amid Narrowing Margins

Both districts have traditionally been Republican strongholds for the past three decades, though recent cycles have shown narrowing margins. The latest victories further solidify GOP control in these areas.

Fairshake, a crypto-focused PAC backed by major industry players such as Coinbase, Ripple, and venture capital firm Andreessen Horowitz, spent heavily in support of both candidates.

The PAC invested approximately $1.16 million on behalf of Fine and $347,000 to bolster Patronis’s campaign.

Both incoming representatives have openly supported the cryptocurrency industry. In a January 14 post on X (formerly Twitter), Fine declared, “Floridians want crypto innovation!”

Fairshake has played an increasingly influential role in US politics, channeling roughly $170 million into the 2024 election cycle to support candidates aligned with pro-crypto legislation.

With Patronis and Fine entering the House, Republican representation rises to 220 seats, while Democrats hold 213. Two additional seats remain vacant following the recent deaths of Representatives Sylvester Turner (D-TX) and Raúl Grijalva (D-AZ) earlier this month.

While the GOP would have retained its House majority regardless of the Florida outcomes, the added support strengthens the likelihood of advancing crypto-related legislation in Congress.

Several bills are already in play, including the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which passed the Senate Banking Committee in mid-March with bipartisan support.

Rep. Ro Khanna Says Crypto Legislation Could Pass This Year

At the Digital Assets Summit on March 18, Democratic Representative Ro Khanna expressed optimism that Congress could pass both a stablecoin framework and a broader crypto market structure bill this year.

In addition, Senator Cynthia Lummis recently reintroduced a bill to establish a Strategic Bitcoin Reserve, a move that aligns with ongoing Republican efforts to bolster U.S. leadership in digital asset infrastructure.

@ Newshounds News™
Source:  99Bitcoins

~~~~~~~~~

TED CRUZ INTRODUCES FLARE ACT TO REPURPOSE FLARED GAS FOR BITCOIN MINING

The Texas Senator’s Facilitate Lower Atmospheric Released Emissions bill aims to make the state “the number one place for Bitcoin mining.”

U.S. Senator Ted Cruz (R-TX) has introduced a new bill aiming to turn waste energy into electricity for Bitcoin mining.

The Facilitate Lower Atmospheric Released Emissions (FLARE) Act, introduced on March 31, is geared towards making waste energy productive by capturing gas that would otherwise be flared or vented. The plan is to incentivise this capture by offering full expensing for property used to capture that gas.

Cruz specifically pointed to crypto mining as a direct output of this extra energy. In a statement announcing the bill’s introduction, he said that it, “takes advantage of Texas’s vast energy potential, reinforces our position as the home of the Bitcoin industry, and is good for the environment.”

The Senator affirmed his commitment to "making Texas the number one place for Bitcoin mining,” adding that the FLARE Act, “incentivizes entrepreneurs and crypto miners to use natural gas that would otherwise be stranded."

The U.S. focused bill specifically names competitive countries that shall not be allowed to participate in the scheme, including China, Iran, North Korea and Russia.

In a press release from Cruz’s office, Hailey Miller, Director of Government Relations & Public Policy at the Digital Power Network, praised the new bill, saying that Bitcoin miners are “uniquely positioned to help reduce emissions by harnessing stranded and wasted energy sources.”

Miller added that the FLARE Act “ensures that American energy producers have the tools to deploy cutting-edge solutions that make our energy markets more efficient and resilient."

The new Act would specifically, "amend the Internal Revenue Code of 1986 to provide for permanent full expensing for property used to capture gas that would otherwise be flared or vented and to use such gas in value-added products."

This measure should also help to enhance grid resilience while offering new electricity and "other useful outputs."

Cruz’s bill comes after U.S. President Donald Trump pledged to ensure that “all remaining Bitcoin” would be mined in the U.S. as part of his reelection campaign. Bitcoin advocates have long held that mining the cryptocurrency could be a means of harnessing waste energy from natural gas flaring, the practice of burning off excess gas that can’t be economically captured or transported.

@ Newshounds News™
Source:  Decrypt

~~~~~~~~~

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Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Thank you Dinar Recaps

“Tidbits From TNT” Wednesday Morning 4-2-2025

TNT:

Tishwash:  Iraq is recovering... an important message from Grand Ayatollah Sistani to the Iraqi people.

Iraq's highest religious authority, Grand Ayatollah Ali al-Sistani, called on Iraqis on Tuesday to adhere to their national principles and maintain hope for the future.

In a message conveyed by one of his representatives and monitored by the Video News Agency, Ayatollah Sistani said, "The country is moving toward recovery and stability," calling on everyone to "not fear and to cling to hope for a better future."

 According to the letter, Ayatollah Sistani emphasized "the importance of Iraqis adhering to authentic customs, values, and principles, as they are the foundation that preserves the unity and identity of society."

According to the letter, Ayatollah Sistani specifically addressed the Shiite sect, saying, "Shias possess a great cultural heritage, and it is essential that they recognize and preserve it as part of their cultural and historical identity."  link

Tishwash:  One of them is in Iraq...American "BlackRock" acquires ports in the Middle East.

US asset management firm BlackRock and Italian shipping company MSC have acquired 43 ports owned by Hong Kong-based multinational CK Hucheng Holdings in a deal that will give the US asset manager control of 12 ports in the Middle East, located on strategic coasts stretching from the UAE and Oman to Iraq and Egypt. 

In March 2025, a consortium of BlackRock and MSC reached a $22.8 billion deal to acquire 43 ports owned by CK Huzhen, a Hong Kong-listed company owned by one of Asia's richest men, 96-year-old billionaire Li Ka-shing.

The deal made headlines because it would give BlackRock and MSC control of two ports at each end of the Panama Canal, the strategic waterway that US President Donald Trump has threatened to seize to limit China's influence in the Western Hemisphere.

But the agreement's impact extends beyond Panama to the Middle East, where Arab countries, particularly the Gulf states, are seeking to diversify their economies away from oil. The shipping and ports sectors represent another source of economic diversification for these countries. 

Which ports will BlackRock and MSC acquire in the Middle East?

Under the deal reached between the US-based BlackRock and Italy's MSC Group, the two companies are set to acquire 12 ports in the Middle East, distributed as follows:

Egypt (5): Alexandria - Dekheila - Abu Qir - Ain Sokhna - and the new B100 berth at Alexandria Port

Emirates (4): Ras Al Khaimah - Ajman - Khasab - UAQ

Sultanate of Oman (1): Sohar

Iraq (1): Basra

Saudi Arabia (1): Jazan

link

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Tishwash:  Iraq and the Appeasement Strategy: A Difficult Balance in Times of Pressure

Iraq has recently faced a significant escalation in US economic and financial pressure, primarily targeting dollar transactions and Iranian gas imports, along with repeated demands regarding the future of the Popular Mobilization Forces.

These pressures come as part of Washington's efforts to isolate Iraq economically from Iran, with the aim of strengthening the effectiveness of sanctions imposed on Tehran to force it to reassess its nuclear program.

However, this policy presents Iraq with complex challenges as it attempts to maintain a delicate balance in its foreign relations.

Recent reports indicate that the United States has refused to renew the waivers that allowed Iraq to import gas and electricity from Iran. This was confirmed by Iraqi Foreign Minister Fuad Hussein on March 19, 2025, who noted that Washington described the decision as "irreversible."

This decision threatens to exacerbate the energy crisis in Iraq, which relies heavily on Iranian gas to power its power plants. Imported gas accounts for approximately 40% of the country's total energy needs, according to estimates from the Iraqi Parliament's Oil and Gas Committee.

On the financial front, the United States is seeking to restrict dollar transactions in Iraq to prevent its smuggling to Iran, which is suffering from massive economic pressures due to sanctions. According to a report, Washington believes that cutting off these financial arteries will directly weaken Tehran, thus strengthening the impact of the sanctions.

But this approach places the Iraqi government in a difficult position, as Iraq holds financial reserves exceeding $100 billion in the United States, making it dependent on Washington's goodwill to access its oil revenues.

Separately, statements by the Iranian ambassador to Baghdad, Mohammed Kazem Al-Sadiq, on March 27, 2025, sparked widespread controversy when he said that US President Donald Trump's letter to Iranian Supreme Leader Ali Khamenei included a request to dissolve the Popular Mobilization Forces and other armed factions.

However, Iraqi Prime Minister Mohammed Shia al-Sudani quickly denied any direct US request in this regard, stressing that any decision to dissolve the factions is linked to the end of the international coalition's presence in Iraq.

For his part, MP Alaa Al-Haidari defended the Popular Mobilization Forces Law, considering it an internal matter aimed at honoring those who sacrificed for the nation.

The Iraqi government is adopting a strategy of appeasement in its foreign policy, attempting to maintain a balance between the United States and Iran, two of its historical allies. However, this approach faces increasing challenges, especially with mounting US pressure to end economic and military coordination with Tehran. Analysts believe that Washington also aims to "undermine the unity of the arenas," the strategy Iran uses to connect its fronts in Iraq, Syria, Lebanon, and Yemen.

Economically, Iraq is paying the price for its heavy reliance on Iran for energy. Iraqi lawmakers have called for exploring alternatives, such as Qatar and Turkey, for gas imports. However, this step requires huge investments and a long time frame, both of which may be unavailable given the current crisis. Conversely, experts believe that economic decoupling between Baghdad and Tehran could increase pressure on Iran, but it could also cause internal unrest in Iraq, especially if the electricity crisis worsens. link

Mot........ Beeeeeee Careful Out there!!!!

Mot: . Goes to Show Ya -- That Folks will ---- ssiiggghhhh

The Fed Confirms Crisis as Hedge Fund Bailout Begins

The Fed Confirms Crisis as Hedge Fund Bailout Begins

Taylor Kenny:  4-1-2025

The Federal Reserve has quietly pulled back on its quantitative tightening policy.

While this may sound like an obscure financial adjustment, for those paying attention, it's a sign of something far more serious.

 This shift is a clear indication that the foundation of our financial system is under unprecedented strain. The question isn't when to get out of the current system—it's why wait?

The financial world is a complex web of interconnected policies and reactions. Often, the most significant shifts occur not with a fanfare, but with a hushed adjustment, a subtle tweak that speaks volumes to those who know where to listen.

That’s precisely what’s happening now as the Federal Reserve has quietly begun to ease back on its quantitative tightening (QT) policy.

For the uninitiated, quantitative tightening is the process of shrinking the Fed’s balance sheet by allowing previously purchased bonds to mature without reinvesting the proceeds. It’s essentially the opposite of quantitative easing (QE), which was used extensively to inject liquidity and stimulate the economy after the 2008 financial crisis and during the CovidD-19 pandemic. QT is intended to reduce inflation by decreasing the money supply and raising interest rates.

So, why is this seemingly minor recalibration a cause for concern? Because it suggests that the foundation of our financial system is showing significant cracks.

The Fed embarked on QT to combat inflation, a laudable goal. However, prematurely easing off the brakes suggests the economy, or more accurately, the financial system, is struggling to withstand the pressure.

Think of it as a doctor prescribing a medication and then, realizing the side effects are too severe, drastically reducing the dosage before the course is complete. The implication is clear: the patient is more fragile than initially anticipated.

In short, the Fed’s pivot is a signal that the system is under stress, struggling to cope with the very medicine intended to heal it.

While some may argue this is merely a prudent adjustment to navigate a complex landscape, others see it as a canary in the coal mine, warning of a potentially catastrophic collapse.

This raises a crucial question for informed individuals: If the very institutions designed to stabilize the financial system are signaling underlying fragility, should we continue to passively participate in the system as it is?

The question isn’t when to consider diversifying your assets, exploring alternative investment strategies, and understanding the risks and rewards of different financial landscapes. The question is: why wait? 

The Fed’s quiet adjustment is a wake-up call.

Staying informed, understanding the risks, and taking proactive steps to protect your financial future is no longer a luxury, but a necessity. The time to act is now, before the system’s cracks widen into a chasm.

Watch the video below from ITM Trading with Taylor Kenney for further insights and information.

https://www.youtube.com/watch?v=en4qsdooUo8

Seeds of Wisdom RV and Economic Updates Tuesday Evening 4-1-25

Good Evening Dinar Recaps,

MASTERCARD WORKING ON BLOCKCHAIN TO CONNECT TRADFI AND CRYPTO: REPORT

Mastercard is developing a blockchain-powered Multi-Token Network to connect traditional financial institutions with the digital asset space.

The initiative, led by Raj Dhamodharan, Mastercard’s executive vice president of blockchain and digital assets, aims to provide a compliant, user-friendly experience for moving digital assets, similar to Venmo or Zelle, according to Business Insider

Mastercard is positioning itself as a key infrastructure provider in the growing blockchain ecosystem. By integrating its vast payment network with blockchain technology, the company seeks to enable seamless transactions between fiat and crypto markets.

Dhamodharan highlighted that financial institutions are increasingly interested in blockchain due to its potential to create new business models.

Mastercard partnerships

The network has already secured partnerships with JPMorgan and Standard Chartered, focusing on cross-border payments, tokenized deposits, and carbon credit transactions.

Mastercard has also introduced over 100 crypto-focused card programs worldwide, allowing its 3.5 billion cardholders to interact with digital assets.

Since 2015, Mastercard has filed over 250 blockchain-related patents and backed 43 startups in the sector. Recent collaborations include a November 2024 integration with JPMorgan to improve cross-border settlements and a February 2025 partnership with Ondo Finance to bring institutional financial assets on-chain.

Mastercard’s blockchain expansion comes as U.S. regulators provide more clarity on digital assets, encouraging traditional finance firms to engage with crypto. Dhamodharan believes the company is well-positioned to capitalize on this momentum, leveraging its scale to drive broader blockchain adoption.

@ Newshounds News™
Source:  Crypto News

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UK DIGITAL ASSET EXCHANGE ARCHAX EXPANDS TO US WITH ACQUISITION

UK digital asset exchange Archax has acquired Globacap Private Markets Inc. (Globacap PMI) a US regulated broker dealer and alternative trading system (ATS). It bought the US company from fellow British startup Globacap which provides workflow solutions for private markets and is also active in the digital assets sector.

"The acquisition of Globacap PMI in the US builds on the strong partnership we already have with them in the UK, and is a part of that global strategy," said Graham Rodford, CEO and co-founder of Archax.

“In particular, we want to help support institutional market participants transition from traditional to digital assets and give them the regulated tools and services they need to do that. The US is an enormous and important global market – and with the recent change of government and new, clearer and more open regulated landscape, it is important for firms in our space to have a clear US strategy – and this transaction gives us just that.”

Archax has a multilateral trading facility (MTF) license in the UK and recently acquired a Spanish broker to give it a footprint in the EU. It trades both cryptocurrencies and tokenized securities, targeting institutions. It grabbed headlines when it revealed the big UK asset manager abrdn as an investor in 2022.

To date its tokenization efforts has especially focused on funds, but also bonds and carbon credits. In January it announced plans to tokenize existing equities and government debt so they are usable as DLT-based collateral.

@ Newshounds News™
Source:  Ledger Insights

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Iraq Economic News and Points to Ponder Tuesday Afternoon 4-1-25

Oil Prices Fall Due To Trade War Fears

Economy | 11:15 - 01/04/2025  Mawazine News – Baghdad   Oil prices fell slightly on Tuesday, as concerns about the impact of the trade war on global growth outweighed worries about supply disruptions from U.S. President Donald Trump's threats to impose secondary tariffs on Russian crude and to bomb Iran. Brent crude futures were down 10 cents, or 0.1 percent, at $74.67 a barrel by 00:13 GMT.

U.S. West Texas Intermediate (WTI) crude futures fell 11 cents, or 0.1 percent, to settle at $71.37 a barrel, after hitting a five-week high the previous day. Slowing global growth is expected to dampen fuel demand, which could offset any supply losses caused by Trump's threats to bomb Iran and impose secondary tariffs on buyers of Russian oil. After news of Trump's threats initially sent prices higher on Monday, traders said they viewed the president's warnings to Russia, at least, as a bluff.

Trump told NBC News on Sunday that he was very angry with Russian President Vladimir Putin and would impose secondary tariffs of 25 percent to 50 percent on buyers of Russian oil. Moscow is trying to derail efforts to end the war in Ukraine. Imposing tariffs on oil buyers from Russia, the world's second-largest oil exporter, would disrupt global supplies and harm Moscow's largest customers, China and India. Trump has also threatened Iran with similar tariffs and bombing if Tehran does not reach an agreement with the White House on its nuclear program.
https://www.mawazin.net/Details.aspx?jimare=260471

Al-Fartousi: The Projects Launched By The Prime Minister In Maysan Will Be Completed By The End Of This Year

Maysan Governorate  Reconstruction and construction   Economy News – Baghdad  Maysan Governor Habib Dhaher al-Fartousi confirmed on Tuesday that the projects launched by Prime Minister Mohammed Shia al-Sudani in Maysan province will be completed by the end of this year.

Al-Fartousi said, in a statement reported by the official news agency, and seen by "Al-Eqtisad News," that "collecting the projects announced by the Prime Minister, including the Maysan oil refinery and the refinery's additional points amounting to 70,000 barrels per day, will be completed before the end of this year."

He added that "among the projects included in the 2025 budget is the expansion project for the Amara-Baghdad road, noting that "the Directorate of Roads and Bridges in the Ministry of Construction, Housing and Public Municipalities informed the governorate that this project was included in the current year's budget."

Prime Minister Mohammed Shia Al-Sudani visited Maysan Governorate and launched several projects, including the implementation works for the Maysan Refinery Development Project, expanding its refining capacity from 40,000 to 110,000 barrels/day,

and the inauguration of the (Greater Amara Unified Water) Project with a capacity of 16,000 cubic meters/hour, as well as the inauguration of the (Martyr Hussein Attia) bridges and tunnel project in Maysan Governorate, and the launch of the implementation works for the College of Medicine project/Maysan University,

 in addition to launching the implementation works for two rehabilitation projects: the (Amara-Al-Mashrah-Ghazaila-Al-Shaib) road, with a concrete bridge, and the (Amara-Al-Bateera-Al-Fajr) road, in addition to the inauguration of the Maysan Governorate Traffic Directorate building. https://economy-news.net/content.php?id=53989

Najaf: New Industrial Projects To Boost Investment

Money and Business  Economy News – Baghdad  Najaf's Deputy Governor, Karar Mahbouba, confirmed on Tuesday that a project to build state-of-the-art grain storage facilities to attract investment is imminent. He also indicated that the province is in the process of establishing an integrated industrial city that keeps pace with global modernity.

Deputy Governor of Najaf, Karar Mahbouba, said in a statement reported by the official news agency and reviewed by Al-Eqtisad News, that "the local government in Najaf Governorate is working to establish an integrated industrial city with multiple components and developments that keep pace with global modernity."

Regarding grain stores, he indicated that "a committee has been formed in the local government of Najaf Governorate, headed by him, with the aim of establishing modern and advanced warehouses to attract capital owners in Najaf and other governorates."

He explained that "the governorate suffers from the presence of random warehouses near residential areas, which has led to population migration towards them, which is inappropriate. Therefore, we resorted to establishing regular warehouses."

The deputy governor added that "the committee members reviewed some successful experiences, especially in northern Iraq, and these will be utilized in Najaf Governorate," stressing that "significant progress has been made in the project, and sufficient space has been allocated for it. It is expected that the major project, which includes many developments, will be announced in the coming months."

He pointed out that "the project has been approved by the relevant government agencies and departments, the necessary land has been allocated, and the start of project implementation is expected to be announced soon."   https://economy-news.net/content.php?id=53998

Gold At Record High On US Tariff Fears

Tuesday, April 1, 2025 10:53 | Economic Number of reads: 257   Baghdad/ NINA /Gold prices reached an unprecedented level on Tuesday, as demand for safe-haven assets increased due to concerns that US tariffs could increase inflationary pressures and hinder economic growth.

Spot gold rose 0.6 percent to $3,143.05 an ounce, after hitting an all-time high of $3,148.88 earlier in the session.

U.S. gold futures rose 0.6 percent to $3,169.50, with gold prices recording their best quarterly performance since 1986.

Among other precious metals, spot silver fell 0.1 percent to $34.04 an ounce, platinum fell 0.1 percent to $991.41, and palladium rose 0.8 percent to $989.19.

U.S. President Donald Trump pledged to announce a broad tariff plan on Wednesday, imposing a series of new tariffs aimed at protecting U.S. industries and reducing the trade deficit.

Gold prices surpassed $3,100 an ounce for the first time on Monday, with a new wave of investments in safe-haven assets amid concerns about US tariffs and a potential economic slowdown. /End

https://ninanews.com/Website/News/Details?key=1195194

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 4-1-25

Good Afternoon Dinar Recaps,

US LAWMAKER WILL REINTRODUCE CRYPTO RETIREMENT BILL TO HELP TRUMP AGENDA

Senator Tommy Tuberville introduced the Financial Freedom Act in 2022 and 2023. Both times, the legislation failed to get out of committee.

For the second time, Alabama Senator Tommy Tuberville is set to reintroduce a bill aimed at allowing Americans to add cryptocurrency to their retirement savings plans.

In a March 31 Fox News interview, Tuberville said he planned to reintroduce his “Financial Freedoms Act” legislation after two failed attempts to get the legislation through Congress in 2022 and 2023. In announcing the bill, the Alabama senator said he wanted to help US President Donald Trump’s perceived role as a “crypto president.”

“Give people a chance to breathe for once [...] let them do what they do best [which] is invest their money,” said the senator.

The Financial Freedom Act, which Tuberville first introduced in the US Senate in May 2022, proposed scaling back regulations with the Department of Labor over the types of investments used in 401(k) retirement plan fiduciaries. The senator said he would reintroduce the bill on April 1, but congressional records showed no movement at the time of publication.

Wyoming Senator Cynthia Lummis was a cosponsor of the 2023 bill, but at the time of publication, it was unclear whether she intended to support it again. In a 2022 interview, the Republican senator said she was “very comfortable with making sure that people can include Bitcoin in their retirement funds.”

Crypto legislation in the 119th session of Congress

The crypto retirement bill came as members of the Republican-controlled Congress considered legislation to establish market structure rules for the industry and stablecoin regulations. Proponents of the legislation have suggested that lawmakers get the bills to Trump’s desk to sign into law before the August recess. After that time, they could become more politically charged issues.

On April 1, Florida voters will decide on their House representatives in the state’s 1st and 6th congressional districts. Republicans Jimmy Patronis and Randy Fine have support from the crypto industry through media buys financed by the Defend American Jobs political action committee. As of March 22, the PAC has spent roughly $1.5 million to support the two candidates.

@ Newshounds News™
Source:  Cointelegraph

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BRICS PRESIDENT EYES INCREASED DE-DOLLARIZATION AS US TRADE WAR LINGERS

The ongoing tensions between BRICS and the United States continue, with the bloc’s 2025 president eyeing increased de-dollarization as a US trade war lingers. Indeed, the West and Global South have been caught in a faceoff regarding the latter’s treatment of the US dollar.

Yet, the bloc has remained steadfast in its commitment to limited exposure and reliance on the greenback. Now, it appears all the more focused on that pursuit amid a plethora of global tariffs levied by an increasingly aggressive Trump Administration.

BRICS Eyeing Increased Local Currency Trade Amid US Tensions

For years, the BRICS bloc has sought to challenge the global status quo. Specifically, it has targeted the continued dominance of the US dollar in economics, with the asset becoming far and away the predominant global reserve currency. However, with the country’s penchant to weaponize the asset, the alliance saw de-dollarization as a method to secure its best interests.

That has drawn the ire of a returning US President Donald Trump, who threatened the bloc with 150% tariffs. With aggressive economic policy becoming a hallmark of the administration, those tensions may only fast-track. Indeed, the BRICS 2025 president is seeking increased de-dollarization amid a brewing US trade war.

The alliance operates on a rotating presidency, with Brazil taking up the mantle this year. According to a recent report, the country is in favor of expanding local currency trade. Indeed, the country’s Secretary of the Finance Ministry, Tatiana Rosito, recently confirmed as much.

“The trade in local currencies is already underway, for example, between Brazil and China,” she said. “No obstacles exist to that on the side of Brazil,” she added. “Therefore, the goal of BRICS is to expand the use of local currencies in any way that will make it possible to reduce costs and will be of interest for association members.”

The questions are, will the act be seen as advancing what is in the best interest of members of the bloc? Or as an affront against the greenback? Indeed, how it is interpreted will be critical in how Trump responds.

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Tuesday Morning 4-1-25

Good Morning Dinar Recaps,

BIG NEWS: SEC MOVES FORWARD WITH $150 MILLION LAWSUIT AGAINST ELON MUSK

According to ABC News, the Securities and Exchange Commission has decided to continue it’s $150 Million lawsuit against Elon Musk. As stated in a court filing on Monday, the leader of the Department of Government Efficiency has agreed to address the lawsuit alleging that he misled investors during his purchase of millions of dollars in Twitter stock in 2022, before acquiring the company.

The SEC, under former chairman Gary Gensler,  had filed a lawsuit in January 2025, accusing him of securities fraud related to his $44 billion takeover of Twitter, now known as X. The lawsuit alleges that Musk failed to timely disclose his ownership stake in Twitter before completing the purchase in 2022.

According to the SEC, Musk’s failure to report his stake—which exceeded 5% of the company—before the March 24, 2022 deadline allowed him to undervalue the shares he acquired. ‘

Regulators claim this non-compliance resulted in Musk paying at least $150 million less than he should have for the shares purchased after his disclosure was due. The lawsuit states that Musk filed his ownership report after the deadline, causing Twitter’s stock price to surge 27% following the filing.

Musk’s attorney, Alex Spiro, dismissed the lawsuit, stating that Musk has “done nothing wrong” and describing the legal action as a “sham.” This legal battle comes after years of scrutiny surrounding Musk’s Twitter acquisition. In 2023, the SEC also sued Musk for refusing to testify about the deal, claiming he “abruptly notified SEC staff” just two days before a scheduled appearance, citing “spurious objections.”

@ Newshounds News™
Source:  Coinpedia

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KENTUCKY JOINS SOUTH CAROLINA, VERMONT IN DISMISSING COINBASE LAWSUITS

Kentucky has dismissed its Coinbase staking suit days after passing pro-crypto legislation, following in the footsteps of other states.

Just days after South Carolina backed off its staking lawsuit against crypto exchange Coinbase, Kentucky has become the third state in as many weeks to fold, following Vermont’s exit last month.

The Kentucky Department of Financial Institutions filed a joint stipulation of dismissal on Monday, effectively ending its legal action over Coinbase’s staking services, which were previously accused of violating state securities laws.

“Congress needs to end this litigation-driven, state-by-state approach with a federal market structure law ASAP,” Coinbase Chief Legal Officer Paul Grewal posted on X following the lawsuit dismissal.

The case against Coinbase was originally part of a multistate effort launched the same day the U.S. Securities and Exchange Commission (SEC) sued the exchange in June 2023.

"One by one, in just a few short months, states across the country and party lines are standing up for consumers and sound law," Paul Grewal, Coinbase's Chief Legal Officer, told Decrypt. "Kentucky’s dismissal of its case against Coinbase, in rapid succession after Vermont and South Carolina, is a win for customers, innovation, and economic opportunity."

State regulators maintained that Coinbase’s staking program amounted to a securities offering that lacked the necessary registration under state laws.

Coinbase was essentially acting like an investment vehicle without proper registration or investor disclosures by pooling and delegating customer tokens in proof-of-stake networks, the regulators said.

Vermont exited the case on March 14, citing the dismissal of the federal lawsuit and the potential for clearer national regulation.

South Carolina followed days later, with Grewal noting its residents lost an estimated $2 million in staking rewards due to the ban.

The latest dismissal continues a trend of state-level enforcement pullbacks following the SEC’s own February decision to dismiss its case against Coinbase.

Combined with new federal guidance under SEC Acting Chair Mark Uyeda, who has taken a more conciliatory stance toward crypto, these developments point to shifting regulatory winds in favor of the crypto industry.

“This is not just a victory for us, but for American consumers,” Grewal said last week after South Carolina dropped its lawsuit. “We hope it's a sign of things to come in the few states left that restrict staking.”

As of now, seven states—California, New Jersey, Illinois, Washington, Alabama, Maryland, and Wisconsin—still have pending enforcement actions against Coinbase.

@ Newshounds News™
Source:  Decrypt

~~~~~~~~~

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