Seeds of Wisdom RV and Economic Updates Monday Afternoon 5-19-25

Good Afternoon Dinar Recaps,

CIRCLE COURTING ACQUISITION BIDS FROM COINBASE AND RIPPLE, ASKS FOR AT LEAST $5 BILLION: FORTUNE

Circle Internet Financial, the issuer of the second-largest stablecoin, is reportedly courting acquisition bids at a valuation of at least $5 billion, according to a report by Fortune.

The alleged sales talks involve Coinbase, Circle’s longtime partner, and Ripple, a recent rival in the stablecoin space. These discussions are happening even as Circle pursues a public listing.

In April, Circle filed a prospectus for an initial public offering, although the valuation remains undisclosed. Shortly after, Ripple offered between $4 billion and $5 billion to acquire Circle. However, Circle rejected the offer, stating the bid was too low.

This isn’t Circle’s first attempt at going public. Back in 2022, during the crypto bear market, the company canceled its SPAC merger that would have valued it at a staggering $9 billion.

Circle joins several other crypto firms like Kraken and BitGo in signaling public listing intentions under the pro-crypto economic climate of President Donald Trump. However, some analysts question whether Trump’s economic agenda may eventually dampen IPO appetite.

Trump has also publicly pushed for stablecoin legislation to be passed by the end of the summer—a development that could directly affect Circle’s strategic decisions.

Circle and Coinbase have maintained a long-standing partnership, dating back to the formation of the CENTRE Consortium, which initially managed the USDC stablecoin. USDC remains the most used stablecoin on Coinbase, and Circle reportedly paid Coinbase around $900 million in distribution costs in 2024.

Coinbase, meanwhile, is expanding aggressively, pursuing deals with Deribit (a derivatives exchange) and IronFish (a privacy platform). It also just became the first pure-play crypto firm to join the S&P 500.

Ripple is also building its stablecoin presence. It recently launched RLUSD on Kraken, integrating it into the platform’s payment infrastructure.

@ Newshounds News™
Source:  The Block

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US DOLLAR DETHRONED: ONLY 60% GLOBAL RESERVES STILL BET ON ITS REIGN

The US dollar has been dethroned from its long-held position as the world’s undisputed reserve currency—a reality now backed by measurable data. Recent findings show that the dollar’s share of global reserves has declined to approximately 60%, down from 67% two decades ago. This gradual but persistent shift signals a transformational change in global finance, as central banks increasingly diversify their holdings away from the greenback. At present, the ongoing de-dollarization trend is considered one of the most consequential changes in the international monetary system in decades.

The Decline of Dollar Dominance in Numbers

The dollar’s share in global reserves has been steadily eroding over the past 20 years, reflecting a global strategy by central banks to reduce reliance on any single currency and to protect themselves from geopolitical risk.

Historical Context of the Dollar’s Weakening

Since the euro’s introduction in 1999, central banks have actively trimmed their dollar holdings. The British pound and Canadian dollar have gained modest ground, while global trade disputes and rising geopolitical tensions have accelerated a move away from U.S. currency dominance.

Economically stressed nations and those seeking greater monetary independence are contemplating a shift from using the U.S. dollar as the primary trade currency. As a result, “de-dollarization” has become a central topic in financial markets.

Paradox of Dollar Strength Amid Declining Reserve Status

Even as reserve status declines, the dollar has remained remarkably resilient. Its strength is driven by:

• Higher U.S. interest rates

• Strong capital inflows

• Safe-haven appeal during global turmoil

As a result, the dollar has climbed to new highs in real terms, reflected in the Federal Reserve Trade Weighted Real Broad Dollar Index.

Market Reactions to Dollar Uncertainty

This year, the U.S. dollar weakened by 8% against a basket of major foreign currencies—fueling debate over its long-term reliability.

“It is hard to put the genie back in the bottle once such concerns are raised.”
— Vishwanath Tirupattur, Morgan Stanley strategist

With this uncertainty, investors are reallocating assets into gold, German bonds, and emerging markets, signaling a desire to diversify away from dollar-denominated investments.

Structural Challenges for Alternative Currencies

Despite this shift, replacing the dollar is no easy feat. Only a few alternatives come close to meeting the requirements of a reserve currency.

“There is really no alternative to the dollar. The Euro is very fragmented, China’s currency doesn’t float freely in markets, and the yen doesn’t have the scale to compete.”
— Brent Coggins, CIO, Triad Wealth Partners

A true reserve currency must be:

• Freely convertible

• Backed by deep and liquid bond markets

• Readily accessible in times of crisis

The U.S. Treasury market continues to provide these essentials, despite the dollar’s recent challenges.

Future Outlook for the Global Reserve System

While a complete abandonment of the dollar seems unlikely in the near term, the trend is clear: the world is moving toward a multipolar currency system.

“We ultimately think this shift is tactical rather than a fundamental reassessment of U.S. assets.”
— Nick Bennenbroek, International Economist, Wells Fargo

Yet, what truly worries White House economists is not short-term volatility—but the potential for a long-term structural reallocation of global savings away from U.S. assets. Such a move would undermine America’s ability to borrow cheaply, long considered an “exorbitant privilege.”

The global financial order is evolving. While no immediate successor to the dollar exists, the momentum of de-dollarization is unmistakable and growing.

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

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Iraq Economic News And Points To Ponder Monday Morning 5-19-25

Internal And External Factors...The Reasons For The Dollar's Decline In The Local Market

Buratha News Agency1092025-05-18   Economist Safwan Qusay confirmed on Sunday that the decline in the value of the dollar in the informal market is the result of a combination of several internal and external factors, most notably recent developments in Syria and the banking reforms initiated by the Iraqi government.

Qusay said in a press interview that "the value of the dollar in the informal market was affected by recent events in Syria, as Damascus was within the circle of prohibited transfers. However, the lifting of sanctions and the reversal of transactions towards Syrian markets contributed to reducing demand for the dollar in the informal market."

He added, "Lebanese markets, which had previously refrained from direct dealings with Iraqi banks, have recently begun dealing directly with them, which has also been reflected in a decline in demand for dollars on the parallel market."

Qusay explained that "the banking reforms initiated by the Iraqi government in cooperation with Oliver Wyman, which included opening windows for international correspondents and expanding the scope of investigation into entities requesting dollars from the informal market, helped to organize their affairs and shift them toward dealing with official banks and benefiting from the official exchange rate of 1,320 dinars to the dollar."

He pointed out that "most traders are hesitant about imports due to the ongoing trade war between Russia and the European Union on the one hand, and the United States and China on the other, in addition to the mutual tariffs, which in turn have contributed to a decline in demand for the dollar."

The economic expert noted that "the upcoming understandings regarding reciprocal taxes between the United States and China will positively impact the price of a barrel of oil, leading to a further decline in demand for the dollar in the informal market."

He emphasized that "these measures, which represent a combination of government reforms and international variables, have helped reduce the value of the dollar in the informal market, alongside the decline in the dollar's global price due to the US administration's desire to repay its $36 trillion foreign debt with a weak dollar. This also depends on the US Federal Reserve's renewal policy and interest rates."     https://burathanews.com/arabic/economic/460279

Stability Of The Dollar Exchange Rate In Local Markets

Economy | 10:42 - 05/18/2025   Mawazine News - Baghdad -  The exchange rate of the US dollar against the Iraqi dinar witnessed stability in local markets.

The dollar exchange rate on the Al-Kifah and Al-Harithiya stock exchanges in Baghdad reached 142,450 Iraqi dinars for every $100, after recording 142,400 dinars for every $100 yesterday, Saturday.

The exchange rates at money exchange shops in local markets in Baghdad stabilized, with the selling price reaching 143,500 dinars for every $100, while the buying price reached 141,500 dinars for every $100.
On February 7, 2022, the Council of Ministers announced its approval to adjust the dollar exchange rate to 1,320 dinars for one dollar.   https://www.mawazin.net/Details.aspx?jimare=261614

Iraq Is Not Among The Largest Holders Of US Bonds.

Sunday, May 18, 2025 1:26 PM | Economic Number of reads: 258   Baghdad / NINA / The US Treasury Department announced, on Sunday, that the total holdings of US bonds by countries around the world during the current year exceeded $9 trillion.

The Treasury said in a table for the year 2025, that "the holdings of US bonds by countries around the world amounted to $9 trillion and 50 billion."

It indicated that "Japan is considered the largest holder of US bonds, with $1.13 trillion, followed by the United Kingdom, then China, the Cayman Islands fourth, and then Canada."

In the Arab world, Saudi Arabia and the UAE were among the top twenty countries in terms of holding US bonds, as Saudi Arabia's holdings amounted to $131 billion, and the UAE's $111 billion.

According to the US Department's table, Iraq did not make it to the top twenty list, despite its presence in 2023 with holdings amounting to $32.6 billion.

It's worth noting that Saudi Arabia was the only Arab country on the list of the largest holders of US bonds for 2024, ranking 17th with holdings of $137.5 billion. / End https://ninanews.com/Website/News/Details?key=1227651

Gold Prices Stabilize In Local Markets

Economy | 01:16 - 05/18/2025  Mawazine News - Baghdad -  Gold prices, both foreign and Iraqi, witnessed stability in the local markets of the capital, Baghdad, on Sunday.

Gold prices in the wholesale markets on Al-Nahr Street in Baghdad recorded this morning a selling price for one mithqal of 21-karat Gulf, Turkish and European gold at 635,000 dinars, while the purchase price reached 631,000 dinars, the same prices recorded yesterday, Saturday.

The selling price of one mithqal of 21-karat Iraqi gold reached 605,000 dinars, while the purchase price reached 601,000 dinars.

As for gold prices in jewelers' shops, the selling price of one mithqal of 21-karat Gulf gold ranged between 640,000 and 650,000 dinars, while the selling price of one mithqal of Iraqi gold ranged between 605,000 and 615,000 dinars.   https://www.mawazin.net/Details.aspx?jimare=261622

Iraq's Crude Oil Exports To The US Declined Last Week

Sunday, May 18, 2025  Economic Number of reads: 303  Baghdad / NINA / The US Energy Information Administration announced, on Sunday, a decrease in Iraqi exports to America during the past week.

The administration stated in a table, "The average US imports of crude oil during the past week from ten major countries amounted to 5.365 million barrels per day, an increase of 96 thousand barrels per day compared to the previous week, which amounted to 5.269 million barrels per day."

It added that "the average of Iraqi oil exports to America amounted to 152 thousand barrels per day, a decrease of 77 thousand barrels per day compared to the previous week, which amounted to 229 thousand barrels per day."

The administration indicated that "the largest oil revenues to America during the past week came from Canada, followed by Brazil, Saudi Arabia, and then Mexico. "

According to the table, "the amount of US imports of crude oil continued from Nigeria, Ecuador, Venezuela, Colombia, and Libya." / End  https://ninanews.com/Website/News/Details?key=1227601

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

Seeds of Wisdom RV and Economic Updates Monday Morning 5-19-25

Good Morning Dinar Recaps,

TRUMP CONGRATULATES REPUBLICANS AFTER ‘BIG BEAUTIFUL BILL’ PASSES HOUSE PANEL

President Donald Trump praised House Republicans after a narrow but pivotal vote late Sunday night advanced what he called the “One Big Beautiful Bill Act,” containing many of his top legislative priorities.

“CONGRATULATIONS REPUBLICANS!!!” the president posted on Truth Social just before 1 a.m. Monday. “MAKE AMERICA GREAT AGAIN!!!”

The House Budget Committee voted 17-16 in a rare late-night session to move the bill forward. The proposed legislation aims to:

• Extend Trump’s 2017 tax cuts

• Boost immigration enforcement funding

• Cut spending on select social programs

House Republicans had spent the previous week negotiating details, particularly around spending cuts and the bill’s potential impact on the long-term national debt.

Notably, four GOP members who had previously blocked the bill’s advancement — Reps. Ralph Norman (S.C.), Chip Roy (Texas), Andrew Clyde (Ga.), and Josh Brecheen (Okla.) — shifted their stance and voted present, allowing the bill to proceed.

Speaker Mike Johnson (R-La.) said the process is far from over, stating the House will continue refining the measure as it moves to the Rules Committee:

“There’s a lot more work to do, we’ve always acknowledged that towards the end there will be more details to iron out, we have several more to take care of,” Johnson told reporters.

@ Newshounds News™
Source:  The Hill

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DUBAI REGULATOR SETS COMPLIANCE DEADLINE FOR UPDATED CRYPTO RULES

Dubai’s Virtual Assets Regulatory Authority (VARA) has issued Version 2.0 of its activity-based Rulebooks, giving all licensed virtual asset service providers (VASPs) until June 19, 2025, to comply. The updated framework aims to strengthen market integrity, standardize regulatory terms, and enhance risk management across the digital asset ecosystem.

The revised rules, announced on May 19, tighten oversight for key activities including margin trading, token distribution, brokerage, custody, exchange, lending and borrowing, virtual asset management, and transfer and settlement services. VARA has harmonized compliance obligations across these areas, reducing ambiguity and streamlining operational expectations for VASPs.

Among the most notable updates are enhanced supervisory mechanisms and clearer definitions of core concepts such as “client assets,” “qualified custodians,” and “collateral requirements.” VARA also aligned disclosure obligations where service categories overlap, aiming to ease cross-functional compliance.

Margin trading regulations have been specifically tightened. Leverage thresholds have been reduced, and VASPs are now subject to stricter collateralization standards and real-time monitoring obligations. These measures are designed to curb systemic risks associated with overleveraged trading, particularly in volatile markets.

The new Rulebooks also introduce a dedicated section on token distribution. This includes clear licensing prerequisites, investor protection requirements, and robust marketing restrictions—especially for retail-facing offers—intended to align with global regulatory standards.

A VARA spokesperson emphasized that the updates aim to close observed regulatory gaps and create a consistent, secure environment for virtual asset activity in Dubai.

VASPs must comply within the 30-day transition period to avoid penalties. VARA’s supervisory team will be engaging directly with regulated firms to facilitate the transition and ensure readiness by the June 19 deadline.

@ Newshounds News™
Source:  CoinTelegraph

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BRICS: 5 COUNTRIES PAY 93% OF TRADE IN NATIONAL CURRENCIES

BRICS member Russia is advancing the de-dollarization agenda, convincing economic alliances to settle trade payments in national currencies instead of the US dollar. In the latest move, Russia confirmed that 93% of cross-border payments within the Eurasian Economic Union (EAEU) are now settled in national currencies.

This significant shift reflects a growing global trend away from the U.S. dollar as the dominant medium for international trade. After BRICS, several other economic alliances are following suit, putting further pressure on the dollar’s global reserve status. Emerging economies are asserting greater control over the global financial order, independently of Western influence.

BRICS: Eurasian Economic Union (EAEU) Sidelines the US Dollar

The EAEU alliance consists of five countries: Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan. In 2015, only 70% of the bloc’s trade was conducted in national currencies. A decade later, that figure has climbed to a record 93%, reflecting a steady transition fueled by BRICS-inspired monetary strategies.

“If in 2015 the share of the ruble and other national currencies was about 70% in settlements with our partners in the EAEU, then by the end of last year we reached a record 93%,”
— Dmitry Volvach, Russian Deputy Minister of Economic Development

Russia has extended the BRICS ideology to the EAEU, pushing national currencies ahead of the US dollar in global trade. Today, BRICS, CIS, SCO, GCC, ASEAN, and EAEU are increasingly transacting in their own currencies, significantly reducing reliance on the dollar.

No Force—Only Incentives to De-Dollarize

Volvach stressed that no nation was coerced into de-dollarization. Instead, the transition was driven by practical benefits and national interests:

“It is impossible to artificially force participants in foreign economic activity to switch to one currency. This is a good foundation for further growth,”
— Dmitry Volvach

BRICS and EAEU now stand at the forefront of de-dollarization, marking a pivotal moment where national currencies gain global relevance over the long-dominant U.S. dollar.

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

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“Tidbits From TNT” Monday Morning 5-19-2025

TNT:

Tishwash:  Trump's visit to the Gulf: Will it open the door to investment in the Kurdistan Region?

 US President Donald Trump's visit to several Gulf states has raised questions about its political and economic impact on the Kurdistan Region, given the region's well-known positive relationship with Gulf capitals and its close ties with Washington on development and security issues.

In this context, researcher and political analyst Yassin Aziz told Baghdad Today on Sunday (May 18, 2025) that "Trump's visit has significant repercussions for the entire region, including Iraq. Since the Kurdistan Region is part of Iraq, the region—although it has constitutionally granted special status—remains bound by the public interests and frameworks set by Iraqi foreign policy."

The Gulf and the region: a stable partnership and open prospects

Aziz adds that "the region's relations with the Arab Gulf states have been distinguished and positive for a long time, particularly with pivotal countries such as Saudi Arabia, the UAE, Qatar, and even the rest of the Gulf states," noting that "these countries already have investments in the region, and there is ongoing economic activity, although the ambition is for it to expand further in the coming period."

He believes that Trump's visit to the Gulf states "could be a catalyst" in this direction, as it reshapes the region's economic priorities and could create a new climate that encourages Gulf states to increase their investment engagement in safe and stable regions such as the Kurdistan Region.

Washington - Gulf - Erbil... a triangle of intersecting interests

In response to the possibility of competition between Gulf and American investments in the region, Aziz ruled out this proposal, asserting that "each party has its own perspective, and Gulf state investments do not come at the expense of foreign companies, but may complement them." He emphasized that "the Kurdistan Region is viewed by the Gulf as a stable model, suitable for investment, due to the availability of security and supportive laws."

The open opportunity... when will it become a reality?

Aziz concluded his remarks by emphasizing that "Trump's visit to the Gulf will not negatively impact the relationship between Erbil and the Gulf capitals, but may contribute to accelerating economic cooperation between them, within an environment that encourages multilateral partnerships."

He believed that "the next phase may witness greater openness by Gulf companies towards the region, driven by external political encouragement and a domestic desire to develop non-oil sectors."  link

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Tishwash:  During the Baghdad Summit, Iraq prepares to present a modern economic vision, the outlines of which were drawn up by Sudani.

Iraq is preparing today, Saturday, to present a modern economic vision stemming from nationalist trends outlined by Prime Minister Mohammed Shia al-Sudani during the Arab Summit. Meanwhile, the presence of Arab leaders and monarchs in Baghdad marks a turning point in regional relations and consolidates Iraq's openness to its Arab surroundings. 

The Executive Director of the Iraq Development Fund, Mohammed Al-Najjar, said, "Iraq is preparing to present a modern economic vision stemming from national trends whose outlines were shaped by Sudan." He pointed out that, "This vision includes new partnership paths and advanced investment methods that are in line with the nature of the current economic phase and challenges." 

Al-Najjar emphasized that "the presence of Arab leaders in Baghdad represents a turning point in regional cooperation relations and consolidates Iraq's openness to its Arab surroundings." He added that "the Iraq Development Fund today represents an attractive and diverse investment base capable of absorbing capital and companies seeking to enter the Iraqi market, which is characterized by its vastness and rapid growth."  link

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

Tishwash:  Iraq's debt "very safe" below 33% of GDP

Iraq’s total public debt remains below 33% of the country’s gross domestic product (GDP), securing a low-risk standing in global credit rankings, an Iraqi official confirmed Friday.

Speaking to Shafaq News, Mazhar Mohammed Saleh, financial adviser to the prime minister, noted that Iraq wiped out nearly $100 billion in legacy foreign debt through the 2004 Paris Club agreement, most linked to pre-1990 conflicts under the former regime. The remaining debt was restructured over two decades, with the final installment—a $2.7 billion bond—due for full repayment by 2028.

During the war against ISIS, Iraq borrowed about $12 billion to support its national budget. The majority of these loans, especially those from the International Monetary Fund, have been repaid.

In the coming four years, Iraq must repay $9 billion in external debt. A similar amount, mainly from international development funds, is dedicated to rebuilding areas liberated from conflict. External debt currently represents roughly 8% of GDP, which Saleh described as “very safe.”

Domestic public debt totals 85 trillion Iraqi dinars (around $65 billion), with half held in the Central Bank of Iraq’s investment portfolio and the remainder mostly with state-owned banks or issued as bonds and treasury bills. Saleh attributed this accumulation to three significant downturns in oil revenues over recent years.

Internal debt, however, makes up about 25% of GDP. Combined with external obligations, Iraq’s total public debt stays below 33%—well under the widely accepted 60% threshold for sustainable debt levels.

Saleh also highlighted an unresolved $40 billion in debt dating to the Iran-Iraq war that remains unsettled despite the 2004 Paris Club deal. These “odious debts,” owed to eight countries, are expected to be written off by at least 80% under the agreement, pending verification.   link

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Mot: ..... and Your Skill Level Is???   

MilitiaMan & CREW: Iraq Dinar News Update-Arab Historic Summits of Success

MilitiaMan & CREW: Iraq Dinar News Update-Arab Historic Summits of Success

5-18-2025

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=M-Rvr6HUgGs

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 5-18-25

Good Afternoon Dinar Recaps,

US COMPLETELY LOSES PERFECT CREDIT RATING FOR FIRST TIME IN OVER A CENTURY

Moody's Ratings downgraded the U.S. government's credit rating on Friday, citing repeated failures by successive administrations to control the country's growing debt. The agency lowered the rating from its highest grade, Aaa, to Aa1, noting that while the U.S. still benefits from key strengths—such as a dynamic economy and the global dominance of the U.S. dollar—its fiscal outlook has significantly deteriorated.

Why It Matters

The shift means the United States no longer enjoys a fully stable top-tier rating from any major agency for the first time in more than 100 years. Moody's becomes the third and final major credit agency to reduce its assessment of the federal government's creditworthiness. Standard & Poor's made its first-ever downgrade in 2011, and Fitch Ratings followed in 2023.

What to Know

In its announcement, Moody's—led by chief economist Mark Zandi—projected the federal deficit will rise to nearly 9% of GDP by 2035, up from 6.4% in 2024, driven by:

• mounting interest payments,

• rising entitlement costs, and

• sluggish revenue growth.

Moody's also warned that extending President Donald Trump's 2017 tax cuts—now a key priority for the Republican-led Congress—would add $4 trillion to the federal primary deficit over the next decade. Political gridlock remains a major obstacle to fiscal reform, with:

• Republicans opposing tax increases, and

• Democrats resisted spending cuts,
  leaving little room for bipartisan solutions.

What to Know About the Three Major Credit Agencies

The three major credit rating agencies—Moody's Investors Service, S&P Global Ratings, and Fitch Ratings—play a critical role in assessing the creditworthiness of sovereign nations, including the United States. These agencies assign ratings that influence:

• borrowing costs,

• investor confidence, and

• global economic perceptions.

A top-tier credit rating signals low risk, while a downgrade can lead to increased borrowing costs and financial instability.

Historically, the U.S. maintained a perfect credit rating from all three agencies for decades, reflecting the country's economic strength and political stability. That changed in 2011 when S&P downgraded the U.S. from AAA to AA+ following a contentious debt ceiling standoff. Fitch followed in 2023, citing fiscal deterioration and repeated political brinkmanship. Moody's had been the last to maintain a stable AAA rating—until now.

• Moody's, founded in 1909, is the oldest of the three.

• S&P, established in 1860, is known for its market indices and ratings.

• Fitch, founded in 1914, is the smallest but still influential.

Together, these agencies hold immense sway over global finance, and their recent assessments of the U.S. reflect growing alarm over debt levels and political instability.

What People Are Saying

🔹 Democratic strategist Chris Jackson posted on X (formerly Twitter):
"BREAKING: In a stunning move, Moody's has downgraded the U.S. credit rating from Aaa to Aa1—for the first time in history. That's right: the only major credit agency that hadn't downgraded us under Trump just did. Who else enjoying all this 'economic winning' under Trump?"

🔹 Steven Cheung, assistant to President Trump and White House Director of Communications, replied:
"Mark Zandi, the economist for Moody's, is an Obama advisor and Clinton donor who has been a Never Trumper since 2016. Nobody takes his 'analysis' seriously. He has been proven wrong time and time again."

@ Newshounds News™
Source:
Newsweek – Moody’s Downgrades U.S. Credit Rating   

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CHINA SELLS $19B IN U.S. TREASURIES AS TRADE WAR ESCALATES
 Beijing Cuts Holdings Amid Tariff Tensions and U.S. Credit Concerns

China has significantly reduced its holdings of U.S. government debt, shedding $18.9 billion in Treasuries in March, according to newly released data from the U.S. Department of the Treasury. This move aligns with rising tensions in the ongoing U.S.–China trade conflict.

Sharp Drop in Holdings

• China’s Treasury holdings fell to $765.4B in March, down from $784.3B in February.

• This is one of the steepest monthly reductions in recent years.

• China is now the third-largest U.S. debt holder, behind the U.K. and Japan.

This reduction comes amid growing speculation that China may use its U.S. debt holdings as a geopolitical tool—or to reduce risk as bilateral relations deteriorate.

Trade War Fueling Financial Maneuvers

China’s actions follow the U.S.'s aggressive tariff measures, which have escalated into what many now consider a de facto trade embargo, with tariffs exceeding 100% on some imports.

Chinese economist and former central bank adviser Yu Yongding commented:

“China must have a set of countermeasures through repeated scenario planning to safeguard the security of its overseas assets.”

Global Credit Concerns Deepen

China's debt selloff coincides with mounting concerns over the U.S.’s fiscal health:

• Moody’s downgraded U.S. debt from ‘AAA’ to ‘Aa1’, citing unsustainable debt levels.

• Interest payments and debt ratios are now “significantly higher than similarly rated sovereigns,” Moody’s warned.

Interestingly, China increased its U.S. Treasury holdings by $20B in February, despite the early tariff rounds. March’s reversal signals a shift in strategy as tensions spike.

@ Newshounds News™
Source:  Full article on Bitcoin.com

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Follow the Roadmap

Follow the Timeline 

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Thank you Dinar Recaps

Iraq Economic News And Points To Ponder Sunday Morning 5-18-25

UN Secretary-General: We Are Pleased With The Positive Development Taking Place In Iraq

Reconstruction And Construction

Economy News – Baghdad   UN Secretary-General António Guterres expressed his satisfaction on Saturday with the progress made by Iraq. While noting that the time is right to conclude the UNAMI mission in Iraq by the end of this year, which reflects the maturity of the Iraqi political process, he emphasized that the 34th Arab Summit is being held at a critical moment for the Middle East.

"I am pleased to be in Baghdad again to participate in the Arab League summit, at a crucial moment for the Middle East," Guterres said at a press conference on the sidelines of the Arab Summit in Baghdad, as monitored by Al-Eqtisad News.

He explained that "the ground is shifting beneath our feet, but these radical transformations are not natural forces, but rather the results of specific choices, and the solutions are in the hands of decision-makers."

He added that "these solutions must focus, first and foremost, on making the most of the region's enormous potential," adding: "We all know that the peoples of the Arab world aspire to a better future, and that there are demands for justice, dignity, and rights."

He pointed out that "in Lebanon, the ceasefire, territorial integrity, and adherence to international resolutions must be respected. As for Syria, the Syrian people yearn for a comprehensive political transition that heals national wounds and strengthens Syria's integration into the international community and economy, while also ensuring that the imposed sanctions are lifted."

He continued, "The situation in Gaza is beyond description. There is a blockade, starvation, and a violation of international law, and it must stop." He explained, "The collective punishment imposed on the Palestinian people cannot be justified."

He explained, "We need a permanent ceasefire and to ensure the free flow of humanitarian aid into Gaza."

Regarding the situation in Sudan, Guterres stressed, "Yesterday we held an important meeting with the Secretary-General of the League of Arab States and representatives of the African Union to continue coordinating peace initiatives in Sudan. We have unofficial representatives in Addis Ababa to facilitate coordination between the three mechanisms working towards a peaceful solution."

Regarding the Iraqi file, Guterres said, "I am pleased with the progress made by Iraq," stressing that "at the end of this year, the United Nations mission in Iraq will officially conclude, reflecting the maturity of the Iraqi political process."

He explained that "UN agencies will continue to work in Iraq to support development, organize elections, and provide technical support to the Iraqi government." https://economy-news.net/content.php?id=55555

Aboul Gheit: Iraq Is The First Country To Chair The Political And Economic Summits.

Money and Business   Economy News – Baghdad   Iraq is the first country to chair the political and economic summits  https://economy-news.net/content.php?id=55559

The Iraqi Economy Supports Arab Economic Cooperation At The Arab Summit

Samir Al-Nusairi   Economy News – Baghdad   One of the most prominent topics on the table of Arab leaders at the Baghdad Summit is joint Arab economic cooperation.

The foundation and important pillar on which Iraq relies in discussing the mechanisms and programs of joint Arab economic cooperation and integration in the current circumstances is the stage of its transition to comprehensive economic reform and advancement and the bet on achieving sustainable development based on economic pillars that the economies of countries rely on,

which build their national economies on their own capabilities and in cooperation and integration with the economies of regional and neighboring countries in strong economic blocs and exploit their common resources and capabilities to form an independent economic pole to confront the risks and changes that occur and sweep the world, and that the Arab countries together may be an important and unified pole of economic and financial energies and resources.

By reviewing and analyzing the Iraqi economy's progress, preliminary indicators, and financial and monetary data for 2024 and the first quarter of 2025, we are expecting a strong and robust economy with GDP growth of 5.3% and an inflation rate of around 2.5% in 2025.

This is based on the availability of foreign exchange reserves exceeding $100 billion, with 163 tons of gold, sufficient for a period of 18 months and a rate of 140% to cover imports, and the local currency in circulation. 

The local currency issued has reached around 100 trillion dinars, and our dinar is recovering and gradually returning to its target exchange rate against the US dollar. Our banks are developing, modernizing, and increasing their capital, contributing to the transition to a rapidly growing national economy and providing a promising investment environment and map that has attracted around $88 billion.

The giant strategic projects planned until 2028 confirm that Iraq is on the verge of a major economic renaissance. It is proceeding steadily in accordance with the government and Central Bank's strategy for reform, development, digital transformation, and compliance with international standards.

The number of Iraqi banks that have banking relationships and accounts in solid international correspondent banks and deal directly with them in foreign transfers has reached approximately 20 banks, and they deal in multiple foreign currencies with several countries.

The Central Bank is making great efforts to qualify, develop and assist other banks to join the twenty banks mentioned above.

With a close eye on the reality of monetary policy implementation and the Central Bank's procedures, its close monitoring of international economic variables and their impact on the Iraqi economy, and its compliance with international standards that enable Iraq to integrate into the global banking system and control the movement and safety of foreign currency trading, the banks' commitment to implementing the new foreign exchange instructions and addressing obstacles promptly has led to a gradual recovery of the Iraqi dinar over the past several weeks, with its purchasing power increasing.

Through our precise knowledge of the Central Bank's monetary policy applications, its coverage of the entire demand for the US dollar in the trading market and through its various official outlets, and its control over the distribution of cash dollars according to a new method praised by the US Treasury and considered a globally advanced method in distributing the US dollar, and the trend towards completing daily transactions with credit cards abroad, decisive understandings were reached with the US Treasury and the US Federal Reserve in In this field.

The next stage will be an evaluation and analysis stage of the achievements made and a re-evaluation of the next stage.

Towards achieving comprehensive economic progress, moving towards activating the real sector, and reducing dependence on oil. As a major source of revenue.

Maintaining stability in the financial and monetary system and achieving important steps to stimulate and enable the banking sector to contribute to investment and development, as stated in paragraph 7 of axis twelve in the government program for reforming the financial and banking sector, because banking reform is the beginning of comprehensive economic reform.

Certainly, the above-mentioned pillars upon which the Iraqi economy is based will ensure that Iraq's economic initiative at the Arab Summit will receive a positive response from the attendees, and we expect it to be approved.  https://economy-news.net/content.php?id=55536

Basra Crude Records A Weekly Loss Of More Than 1%

Energy   Economy News – Baghdad  Basra Heavy and Medium crude oil recorded a weekly loss of more than 1%, as global oil prices gained on the back of a trade truce between Washington and Beijing.

Basra Heavy crude closed the final trading session on Friday, down 75 cents, reaching $60.49 per barrel, recording a weekly loss of 67 cents, or 1.1%.

Basra Medium crude closed down 57 cents, settling at $63.64, with a weekly loss of 67 cents, or 1.04%.

Globally, Brent crude and US West Texas Intermediate crude posted weekly gains of about 1%, supported by a temporary trade agreement between the United States and China to de-escalate the trade war for 90 days, including reciprocal tariff reductions, which boosted global market appetite. https://economy-news.net/content.php?id=55533

The Dollar Price Rose In Baghdad And Stabilized In Erbil As The Stock Exchange Closed At The Beginning Of The Week

Saturday, May 17, 2025, Economic Number of reads: 114  Baghdad/ NINA / The dollar prices rose slightly in Baghdad markets, and stabilized in Erbil Governorate with the closure of the stock exchange at the beginning of the week. The

dollar prices recorded a rise with the closing of the Al-Kifah and Al-Harithiya stock exchanges, recording 142,450 dinars for $100, while this morning it recorded 142,400 dinars for $100.

Selling prices in exchange shops in local markets in Baghdad witnessed stability, as the selling price reached 143,500 dinars for $100, while the purchase price reached 141,500 for $100.

In Erbil, the dollar recorded stability, as the selling price reached 142,250 dinars for every $100, and the purchase price was 142,100 dinars for $100. https://ninanews.com/Website/News/Details?key=1227514

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

Seeds of Wisdom RV and Economic Updates Sunday Morning 5-18-25

Good Morning Dinar Recaps,

THE LATEST STABLECOIN GENIUS ACT DRAFT: ADDRESSING KEY DEMOCRAT OBJECTIONS?

Yesterday, Punchbowl News reported that Senate leader John Thune had filed for a procedural vote (cloture) on the Stablecoin GENIUS Act — the same vote that failed last week. Hence, another vote is likely to be held next week. Democrat Senator Kirsten Gillibrand claimed major progress on the bill, indicating that several Democrats were gearing up to support it.

However, last night, Punchbowl published a memo from Senator Elizabeth Warren highlighting ongoing problem areas.

Ongoing Concerns About Trump Family Interests

Firstly, she objected that there’s nothing in the Bill stopping elected officials and their families from issuing stablecoins. The involvement of President Trump’s sons with crypto firm World Liberty Financial is viewed as controversial by some. That concern was exacerbated when its new stablecoin, USD1, was used in a $2 billion transaction by a firm chaired by the UAE’s national security adviser.

Regarding families, earlier this week, Senator Gillibrand implied that family members are legally permitted to issue stablecoins. However, officials themselves cannot. Since early May, there has been a GENIUS Act clause that states:

“For the avoidance of doubt, existing Office of Government Ethics laws and the ethics rules of the Senate and the House of Representatives prohibit any member of Congress or senior executive branch official from issuing a payment stablecoin during their time in public service.”

BigTech Stablecoin Issuance

Senator Warren’s second objection is that BigTech firms, such as Meta or X, are still allowed to issue stablecoins.

While the latest draft does not have a blanket ban, it includes a significant clause addressing issuance by public non-financial corporations. These firms must be approved by the Stablecoin Certification Review Committee, which will assess:

• Financial stability concerns

• Protection of consumer data

• Avoiding tying stablecoin services to other business activities

However, this only applies to public companies. For example, it would not apply to X, Stripe, or other unlisted unicorns. The Committee will consist of the:

• Secretary of the Treasury

• Federal Reserve Chair or Vice Chair

• Chair of the FDIC

Terrorism and Criminal Activities

Senator Warren is also concerned about the use of stablecoins for terrorist and criminal activities. She wrote:

“New language in the draft bill imposing restrictions on when foreign companies can issue stablecoins in the United States makes no material difference, given that the coins could still be issued offshore and moved through domestic decentralized exchanges accessed by terrorists and criminals.”

Her concern might relate to a change in wording — replacing “any person” with “digital asset service provider” (DASP) in several places. This was likely done to align with the upcoming crypto market infrastructure legislation. However, individuals involved in decentralized exchanges may not be covered under the DASP definition — potentially creating a loophole.

Stablecoins and Financial Stability

Stablecoins offer many potential benefits, but they also carry significant financial stability risks. Senator Warren believes these risks are not sufficiently addressed in the current draft:

“[The bill] would still allow issuers to actually invest their reserves in riskier assets, hold them in offshore accounts, engage in dangerous financial and commercial activities, and prevent regulators from applying strong safeguards — inviting a future crash and costly bailouts.”

Other jurisdictions generally require onshore reserve holdings for stablecoins, whereas the GENIUS Act is different in this respect. Some argue that reserves should only be invested in direct government securities, not in money market funds that add a layer of risk.

There is also growing interest in using tokenized assets for stablecoin reserves. These are often tokenized money market funds, which raises the need for clear tokenization standards, including:

• Secure custody providers

• Transparent audits

• Prohibitions on rehypothecation (lending of underlying assets)

There’s no point in banning stablecoin issuers from lending reserves if the tokenization firm can do so instead.

Political Landscape and Path Forward

Despite these concerns, it’s important to consider the broader political context. Senator Warren has long held strong opposition to cryptocurrencies and stablecoins. Her support for any such legislation remains unlikely.

The key to successful regulation lies in garnering Democratic support from lawmakers like Gillibrand, who understand that regulating existing stablecoins is critical. Without a clear framework, the regulatory vacuum may only increase the risks posed by this growing financial sector.

@ Newshounds News™
🔗Source:  Ledger Insights

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🚫 JUDGE DENIES JOINT BID FROM RIPPLE AND THE SEC TO END XRP LEGAL BATTLE

A U.S. judge has rejected a joint request from Ripple and the SEC that sought to end their long-running legal dispute over XRP, saying their bid failed to meet legal requirements.

⚖️ What happened?
Ripple and the SEC filed a joint motion for an “indicative ruling” to reduce Ripple’s $125 million civil penalty to $50 million, and potentially vacate the penalty altogether.

But District Judge Analisa Torres shut it down, saying the parties failed to address the legal burden required to change or vacate the prior judgment.

🧾 Judge Torres wrote:

"Relief from judgment under Rule 60 is granted ‘only upon a showing of exceptional circumstances’… The parties have made no effort to satisfy that burden here; their request does not even mention the rule."

She concluded:

"If jurisdiction were restored, the court would deny the parties’ motion as procedurally improper."

📜 Background on the case:

• The SEC sued Ripple in late 2020, alleging it sold XRP as an unregistered security.

• In 2023, Judge Torres ruled that Ripple’s open-market XRP sales were NOT securities, but said institutional sales WERE.

🧨 In August 2023, Ripple was hit with a $125 million penalty. Both Ripple and the SEC have appealed the amount.

📉 Post-Gensler Fallout:
Since Donald Trump took office and Gary Gensler exited the SEC, the agency has walked back several crypto enforcement actions. But this case continues to hang in the balance.

📌 Judge Torres' ruling keeps the legal penalties in place — and the battle continues.

@ Newshounds News™
📎 Source:  DailyHodl

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“Tidbits From TNT” Sunday Morning 5-18-2025

TNT:

Tishwash:  Al-Sudani launches the "Arab Covenant" for economic reform.

Prime Minister Mohammed Shia al-Sudani launched the "Arab Covenant" initiative for economic reform on Saturday, while also announcing the launch of the Arab Solidarity Fund initiative for the reconstruction of Gaza.

During his speech at the Arab Summit for Economic and Social Development, Al-Sudani said, "Joint Arab action is the path to the advancement of nations, and human resources are among their most valuable assets."

The Prime Minister proposed establishing a mechanism to evaluate development performance, stressing that the development summit serves as a platform for consolidating Arab partnerships.

Al-Sudani pointed out that "the Iraqi government has launched a package of financial reforms and development projects, and has supported the health and education sectors," while also revealing "the launch of the upcoming Arab Reform Era initiative."

He continued, "A series of initiatives were launched within the framework of the development summit and the initiative of the Joint Arab Security Coordination Room in Baghdad, in addition to the establishment of the Arab Center for Combating Terrorism in Baghdad and the Center for Combating Drugs in Baghdad, in addition to the establishment of the Arab Center for Combating Organized Crime in Baghdad."

During his speech, the Prime Minister also confirmed the launch of the Arab Solidarity Fund initiative for the reconstruction of Gaza  link

Tishwash:  The Prime Minister of the Kurdistan Regional Government arrives in Washington on an official visit, heading a high-level government delegation.

Erbil (Kurdistan 24)- Kurdistan Regional Government Prime Minister Masrour Barzani arrived in Washington, DC, on Saturday, May 17, 2025, at the head of a high-level government delegation, at the start of a visit in response to an official invitation.

The Prime Minister is scheduled to hold a series of meetings with senior officials in the US administration and Congress. He will also meet with a number of investors, businessmen, and prominent economic figures in the United States, in addition to a meeting with members of the Kurdish community.

Discussions during this visit will focus on ways to advance bilateral relations and strengthen ties between the Kurdistan Region and the United States at various levels. The talks will also cover all developments in Iraq, as well as the current situation in the region as a whole.

As part of strengthening cooperation in the energy sector, the Prime Minister will participate in a special dialogue session at an energy forum in Washington, D.C., titled "The Future of Energy in the Kurdistan Region," where he will present the region's vision and plans for developing this sector and attracting investment.   link

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

Tishwash:  UN Secretary-General: We are pleased with the positive development taking place in Iraq.

 UN Secretary-General António Guterres expressed his satisfaction on Saturday with the progress made by Iraq. While noting that the time is right to conclude the UNAMI mission in Iraq by the end of this year, which reflects the maturity of the Iraqi political process, he emphasized that the 34th Arab Summit is being held at a critical moment for the Middle East.

"I am pleased to be in Baghdad again to participate in the Arab League summit, at a crucial moment for the Middle East," Guterres said at a press conference on the sidelines of the Arab Summit in Baghdad, as monitored by Al-Eqtisad News. He explained that "the ground is shifting beneath our feet, but these radical transformations are not natural forces, but rather the results of specific choices, and the solutions are in the hands of decision-makers."

He added that "these solutions must focus, first and foremost, on making the most of the region's enormous potential," adding: "We all know that the peoples of the Arab world aspire to a better future, and that there are demands for justice, dignity, and rights."

He pointed out that "in Lebanon, the ceasefire, territorial integrity, and adherence to international resolutions must be respected. As for Syria, the Syrian people yearn for a comprehensive political transition that heals national wounds and strengthens Syria's integration into the international community and economy, while also ensuring that the imposed sanctions are lifted."

He continued, "The situation in Gaza is beyond description. There is a blockade, starvation, and a violation of international law, and it must stop." He explained, "The collective punishment imposed on the Palestinian people cannot be justified."

He explained, "We need a permanent ceasefire and to ensure the free flow of humanitarian aid into Gaza."

Regarding the situation in Sudan, Guterres stressed, "Yesterday we held an important meeting with the Secretary-General of the League of Arab States and representatives of the African Union to continue coordinating peace initiatives in Sudan. We have unofficial representatives in Addis Ababa to facilitate coordination between the three mechanisms working towards a peaceful solution."

Regarding the Iraqi file, Guterres said, "I am pleased with the progress made by Iraq," stressing that "at the end of this year, the United Nations mission in Iraq will officially conclude, reflecting the maturity of the Iraqi political process."

He explained that "UN agencies will continue to work in Iraq to support development, organize elections, and provide technical support to the Iraqi government." link

Mot:  .. Before You Laugh  

Mot: Poor ole ""Rich people problems""

https://www.youtube.com/watch?v=uKFaF3lrzI0

Why a $10 Trillion Fed Print Won’t Stop a 2008-Style Crash

Why a $10 Trillion Fed Print Won’t Stop a 2008-Style Crash

Danela Cambone:  5-17-2025

The next decade could bring a dramatic shift in the financial landscape, with the U.S. dollar potentially losing a staggering 75% of its purchasing power.

 This stark warning comes from Rick Rule, president and CEO of Rule Investment Media, who believes this erosion is a stealthy mechanism to address the nation’s massive $100 trillion in off-balance-sheet liabilities.

In a recent interview with Daniela Cambone on ITM Trading, Rule draws a chilling parallel to the 1970s, a period marked by rampant inflation. He notes that back then, the Federal Reserve, under immense political pressure to stimulate economic growth, kept interest rates artificially low despite soaring inflation.

 This eroded investor confidence in the dollar, ultimately triggering a meteoric rise in gold prices.

Rule believes history is poised to repeat itself. He anticipates the Fed will succumb to similar pressures and “attempt to ease monetary policy and lower interest rates again.”

This, he argues, will be the signal the gold community has been waiting for, a clear indication that “massive inflation is on the way — that the game is truly on.”

The implication is clear: the Fed’s potential actions, while seemingly aimed at short-term economic relief, could inadvertently trigger a period of significant inflation, drastically reducing the dollar’s value and potentially benefiting assets like gold that are traditionally seen as a hedge against inflation.

This alarming forecast raises crucial questions for investors. How should one navigate such a turbulent economic environment? How can you protect your wealth from the potential devaluation of the dollar?

Rule suggests that understanding the current financial situation is paramount, and strategic portfolio allocation is key to weathering the potential storm.

The interview with Daniela Cambone delves deeper into these strategies, offering insights into how to position your investments to not only survive but potentially thrive in a future where the dollar’s purchasing power is significantly diminished.

https://youtu.be/rJVCuwWoYbQ

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 5-17-25

Good Afternoon Dinar Recaps,

GENIUS ACT VOTE ON MAY 19: WILL THE U.S. FINALLY REGULATE STABLECOINS?

The U.S. Senate is preparing to vote on the GENIUS Act (Guaranteed Electronic USD Issuance and Safeguards Act) on May 19, 2025. The bipartisan bill, co-sponsored by Senator Bill Hagerty (R-TN) and Senator Kirsten Gillibrand (D-NY), aims to establish the first-ever regulatory framework for payment stablecoins in the United States.

Hagerty Eyes Bipartisan Breakthrough

Senator Hagerty remains optimistic despite the bill’s rocky journey. On May 8, the GENIUS Act fell short of the 60-vote threshold required for cloture—only 48 senators voted in favor, while 49 opposed. Concerns from Democrats included:

▪️ Weak anti-money laundering (AML) measures
▪️ Lack of oversight on foreign-issued stablecoins
▪️ Insufficient consumer protection mechanisms

In response, bipartisan negotiations have led to key amendments. FOX Business reporter Eleanor Terrett confirmed on X that the revised version includes:

▪️ Enhanced customer safeguards
▪️ Clearer bankruptcy protection for stablecoin holders
▪️ Ethical restrictions, barring Big Tech firms (like Meta, Google) and individuals like Elon Musk from issuing stablecoins

These additions aim to win support from cautious lawmakers and ensure the bill aligns with investor protection and national security goals.

Stablecoin Market: A $246 Billion Sector Awaits Regulation

The timing is crucial. The global stablecoin market is now worth over $246 billion, with Tether’s USDT ($151B) and Circle’s USDC ($61B) leading the charge. These tokens, pegged 1:1 with fiat currency, are essential for traders, institutions, and fintech innovators.

Use cases are growing fast. Mastercard’s partnership with MoonPay is enabling stablecoin payments for 150 million merchants worldwide—further validating the need for regulation.

Senator Hagerty argues the GENIUS Act would:

▪️ Cement the U.S. dollar’s dominance in the digital economy
▪️ Increase demand for U.S. Treasuries
▪️ Encourage fintech innovation to stay within U.S. borders

Can the GENIUS Act Pass?

To pass, the Senate requires 60 votes. As of May 17, 2025, the chamber makeup is:

▪️ Democrats (including Independents): 51 seats
▪️ Republicans: 49 seats

With no party holding a filibuster-proof majority, the bill’s success hinges on bipartisan cooperation. If 9–11 moderate Democrats or Republicans flip in favor, the GENIUS Act could mark a historic regulatory milestone for crypto.

@ Newshounds News™
Source:  Coinpedia

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BRICS NEWS:  THIS US SECTOR WILL CRASH FIRST IF BRICS ABANDONS THE DOLLAR

The BRICS alliance has turned aggressive in advancing the de-dollarization initiative to bring down the US dollar’s global hegemony. They are forging new trade deals with other developing countries to settle cross-border transactions in their respective local currencies. The long-term goal of the 10-member bloc is to diminish the Western powers and tilt the financial authority towards the East.

The main objective of BRICS is to usher the world into a new financial era where the US, the dollar, and other Western allies have no power in global affairs and the overall markets.

The roadmap is already set, and the developing nations are working towards making it a reality. Whether they will be successful in bringing the US dollar down or not, only time will tell.

However, if BRICS manages to abandon the dollar, one important US sector will be the first to crash. It holds the keys to the American economy and global superiority, and without its support, America might never be a superpower. In this article, we will explain the top sector that will crash first if BRICS ditches the dollar.

Top US Sector To Crash If BRICS Ditches the Dollar

The US banking sector will be the first to come crashing down if BRICS ditches the dollar for cross-border transactions. Leading global banking giants such as JP Morgan, Bank of America, Citigroup, and several others will lose trillions of wealth. These US banks are heavily exposed to the US dollar through foreign exchange and dollar-denominated debt.

If BRICS decides to pull the plug on the dollar, US banks will face a liquidity crunch affecting interest rates and profits. These banks supply the US dollar “forward and backward” into America, and failing to do so will add greater pressure. It would expose the stock market to an extensive decline that has never been seen before.

In conclusion, the first US sector to crash if BRICS sidelines the dollar is the American banking system.

@ Newshounds News™
Source:  Watcher Guru

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