Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 6-25-25
Good Afternoon Dinar Recaps,
BIS: Stablecoins Fail as Money, Call for Strict Limits on Their Role
By Cointelegraph | June 2025
The Bank for International Settlements (BIS) has issued a sharp critique of stablecoins, asserting they fail to meet key monetary standards and pose risks to financial integrity and sovereignty.
According to the newly released BIS Annual Economic Report 2025, stablecoins fall short of three essential criteria that define money in a modern financial system: “singleness,” “elasticity,” and “integrity.”
Good Afternoon Dinar Recaps,
BIS: Stablecoins Fail as Money, Call for Strict Limits on Their Role
By Cointelegraph | June 2025
The Bank for International Settlements (BIS) has issued a sharp critique of stablecoins, asserting they fail to meet key monetary standards and pose risks to financial integrity and sovereignty.
According to the newly released BIS Annual Economic Report 2025, stablecoins fall short of three essential criteria that define money in a modern financial system: “singleness,” “elasticity,” and “integrity.”
“Stablecoins perform poorly when assessed against the three tests for serving as the mainstay of the monetary system,” the BIS wrote.
Rather than functioning as true money, stablecoins are described as “digital bearer instruments” that more closely resemble financial assets.
Three Failures: Singleness, Elasticity, and Integrity
• Singleness: Central bank-issued money is accepted at par and universally trusted. In contrast, stablecoins are issued by private entities and often trade at fluctuating rates, undermining monetary uniformity.
• Elasticity: Traditional banking systems allow for liquidity expansion as needed. By contrast, the BIS noted, stablecoins require full upfront payment, making them a “strict cash-in-advance setup” ill-suited for absorbing market shocks or handling high-volume payments.
• Integrity: The report raised the most serious concerns about financial crime.
Stablecoins, especially those used with unhosted wallets on public blockchains, were flagged as vulnerable to money laundering, sanctions evasion, and terrorist financing.
“Stablecoins have significant shortcomings when it comes to promoting the integrity of the monetary system,” the BIS warned.
Stablecoins Should Play a Limited Role
Despite recognizing the appeal of stablecoins—particularly for cross-border transactions and lower fees—the BIS advised that their role in the financial system be strictly limited and tightly regulated.
“Society can re-learn the historical lessons about the limitations of unsound money,” the report cautioned.
“Bold action by central banks and other public authorities can push the financial system along the right path.”
Market Impact and Crypto Reactions
Following the BIS report, Circle (CRCL)—issuer of USDC—saw its stock drop over 15%, closing at $222 on Tuesday after hitting a record high of $299 the day before.
The crypto community responded critically.
Jim Walker, chief economist at Aletheia Capital, remarked:
“The BIS is hysterical in its opposition to crypto. The first criterion—being backed by a central bank—should make it a laughing stock given the historical failures of those institutions.”
Tokenization Praised
Not all digital finance was dismissed. The BIS praised tokenization as a “transformative innovation”, calling it a promising path for next-generation monetary infrastructure.
Rather than replacing the financial system, tokenization was described as building upon it—a nuanced but important distinction from the harsh critique of stablecoins.
@ Newshounds News™
Source: Cointelegraph
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GENIUS Act May Be Tied to CLARITY Bill in the U.S. House: A Turning Point for Crypto Regulation
By Coinpedia | June 2025
The U.S. House of Representatives is considering merging two landmark crypto bills—the recently passed GENIUS Act and the CLARITY Act—into a single legislative package that could reshape digital asset regulation across the United States.
“Together, these two bills could finally bring the structure and national guidelines the crypto industry has long demanded.”
What’s Happening?
▪️ The GENIUS Act (Government-Enacted National Infrastructure for Uniformity in Stablecoins) passed the Senate on June 17 with a 51–23 vote—marking the first major crypto bill to clear the chamber.
▪️ In the House, Republican Majority Whip Tom Emmer is now leading efforts to tie the GENIUS Act to the CLARITY Act (Digital Asset Market Clarity Act of 2025), which has already cleared the House Financial Services Committee and awaits a full vote.
Emmer believes passing both bills together is the only way to bring “a full and unified framework” to the U.S. crypto ecosystem.Why the CLARITY Act Matters
The CLARITY Act would clearly define how digital assets are categorized—such as securities vs. commodities—and outline federal rules for usage, trading, and issuance of crypto tokens across all 50 states.
Currently, crypto firms face a patchwork of conflicting state regulations, slowing innovation and increasing compliance costs. By creating one national rulebook, the combined legislation would unlock a simpler, safer environment for businesses and consumers alike.
Trump’s Push for Quick Passage
Former President Donald Trump has publicly urged the House to pass the GENIUS Act as-is, without adding the CLARITY Act. His supporters argue that swift action is needed to give stablecoin issuers regulatory clarity.
But critics, including Democratic lawmakers, see political risks. Trump has ties to World Liberty Financial, a stablecoin project, and some allege he stands to benefit personally if the law passes in its current form.
Political Pushback: The COIN Act
In response, Senator Adam Schiff introduced the COIN Act (Curbing Officials’ Income and Nondisclosure) on June 23, aiming to prevent presidents, vice presidents, and senior officials from profiting through crypto while in office or shortly after.
Schiff’s proposal adds another layer of complexity—and raises questions about whether crypto regulation can proceed without addressing potential political conflicts of interest.
What Most People Don’t Know
If passed, the merged bills could eliminate the need for crypto startups to navigate 50 different legal systems, significantly lowering the barrier to entry for innovation in the U.S.
For users, this could mean wider access to digital assets, fewer transaction barriers, and greater consumer protections—all under one consistent national framework.
Bottom Line:
The merging of the GENIUS and CLARITY Acts represents a critical moment for crypto legislation in the U.S. While support is growing for comprehensive regulation, political tensions and personal interests could complicate the path forward.
@ Newshounds News™
Source: Coinpedia
~~~~~~~~~
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Trust Lost in Banking System and US Dollar
Trust Lost in Banking System and US Dollar
Liberty and Finance: 6-25-2025
In a recent interview with Liberty and Finance, Dr. Mark Thornton painted a stark picture of the global economic landscape, highlighting a pervasive and growing distrust in fiat currencies, with the U.S. dollar at the forefront.
This erosion of confidence, he argues, is directly fueling a resurgent interest in gold as a stable and reliable monetary asset, an interest that extends from individual investors to powerful central banks.
Trust Lost in Banking System and US Dollar
Liberty and Finance: 6-25-2025
In a recent interview with Liberty and Finance, Dr. Mark Thornton painted a stark picture of the global economic landscape, highlighting a pervasive and growing distrust in fiat currencies, with the U.S. dollar at the forefront.
This erosion of confidence, he argues, is directly fueling a resurgent interest in gold as a stable and reliable monetary asset, an interest that extends from individual investors to powerful central banks.
Dr. Thornton’s analysis points to a confluence of factors contributing to this seismic shift. At the heart of the matter lies a deepening skepticism towards government fiscal policies and the inherent inflationary nature of fiat systems. He asserts that both everyday citizens and institutional players are recognizing the vulnerability of paper money to the ravages of inflation, the consequences of unchecked government spending, and the looming specter of broader economic instability.
“Confidence in traditional banking is eroding,” Dr. Thornton stated, attributing this decline to a trifecta of issues: an overabundance of regulation that stifles innovation and creates inefficiencies, a persistent pattern of fiscal irresponsibility from governments, and the Federal Reserve’s ongoing adherence to inflationary monetary policies.
These factors, he contends, are systematically undermining the trust that underpins the value of fiat currencies like the dollar.
Beyond domestic concerns, Dr. Thornton also shed light on the geopolitical dimensions of this monetary recalibration. He suggested that international conflicts are frequently rooted in battles over monetary control, with nations like China and Russia actively working to challenge and ultimately undermine the dominance of the U.S. dollar in the global financial system.
This strategic maneuvering, driven by a desire for greater economic sovereignty, further bolsters the appeal of gold as an alternative store of value, independent of any single nation’s monetary policy.
Despite the challenging prognosis for fiat currency systems, Dr. Thornton’s outlook is not entirely without hope.
He expressed a degree of optimism regarding the potential for a transition towards a more robust and stable economic future, one underpinned by sound money principles.
In his view, the increasing embrace of gold and silver as monetary assets represents a crucial step in this direction.
“A shift toward sound money—especially gold and silver—could offer a more stable economic future,” he concluded, emphasizing that these precious metals have historically served as anchors of value during times of economic uncertainty.
For those seeking a deeper understanding of these complex economic dynamics and Dr. Mark Thornton’s insightful perspectives, the full video interview is available on Liberty and Finance. It offers a compelling exploration of why the age-old allure of gold may be poised to reclaim its position as the ultimate arbiter of value in a world increasingly wary of paper promises.
Seeds of Wisdom RV and Economic Updates Wednesday Morning 6-25-25
Good Morning Dinar Recaps,
India Reveals New Details About BRICS Currency: Launch Still Years Away
By Watcher Guru | June 2025
The much-anticipated BRICS common currency, once touted as an imminent challenger to the U.S. dollar, remains far from launch. Despite attention-grabbing announcements and mock-ups from leaders like Russian President Vladimir Putin, new statements from Indian officials reveal the project is still in its infancy.
Good Morning Dinar Recaps,
India Reveals New Details About BRICS Currency: Launch Still Years Away
By Watcher Guru | June 2025
The much-anticipated BRICS common currency, once touted as an imminent challenger to the U.S. dollar, remains far from launch. Despite attention-grabbing announcements and mock-ups from leaders like Russian President Vladimir Putin, new statements from Indian officials reveal the project is still in its infancy.
BRICS Currency Still in 'Very Early Stage'
India’s Sherpa and Secretary of Economic Relations, Dammu Ravi, has publicly acknowledged that the development of a BRICS currency is “at a very early stage.”
“The discussions are still in their nascent steps and have a long way to go for the formation,” Ravi stated.
Despite the BRICS bloc—Brazil, Russia, India, China, and South Africa—floating the idea as early as 2023, real progress remains limited. Ravi’s remarks suggest that a BRICS currency may take years—if not decades—to become reality.
Challenges Ahead: Framework, Consensus, and Central Bank
The formation of a common currency within a multi-nation bloc like BRICS is a consensus-based effort, meaning all member nations must agree on every element—from economic frameworks to geopolitical implications.
Key requirements still missing include:
▪️ A unified policy framework
▪️ A functioning central monetary authority or central bank
▪️ Clear guidelines for currency management and cross-border transactions
This level of coordination across five (or more) sovereign economies is complex and unprecedented.
Geopolitical Catalyst: U.S. Sanctions Sparked the Idea
The original push for a BRICS currency stemmed from a growing backlash against U.S. sanctions, particularly those impacting developing nations. The BRICS bloc began exploring alternatives to the dollar-dominated financial system, with currency independence seen as a strategic defense mechanism.
While the White House’s use of economic sanctions prompted this movement, U.S. policymakers shouldn’t dismiss the potential threat—even if the currency launches decades from now.
“Even if it is launched after 25 years, it still poses a threat to the U.S. dollar’s global supremacy,” the report notes.
A Symbol vs. Substance—For Now
At the 16th BRICS Summit in Kazan, Putin publicly showcased a mock-up BRICS banknote, sparking media speculation that the project was nearing launch. However, this now appears to have been more symbolic than substantive.
Despite over two years of discussion, the BRICS currency remains in the conceptual phase. India’s remarks signal that public hype may be running far ahead of institutional readiness.
Bottom Line:
While the idea of a BRICS currency continues to grab headlines and stir speculation, officials now admit the project is still in the brainstorming phase. The dream of challenging dollar dominance remains alive—but reality is still far over the horizon.
@ Newshounds News™
Source: Watcher Guru
~~~~~~~~~
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“Tidbits From TNT” Wednesday Morning 6-25-2025
TNT:
Tishwash: IMF: Iraq has made progress in transitioning to a new system for financing foreign trade.
The International Monetary Fund (IMF) mission considered that the Central Bank of Iraq has achieved "significant progress" by transitioning to a new system for financing foreign trade.
A statement issued by the bank quoted the mission as confirming that "the Central Bank of Iraq has made progress in absorbing excess liquidity by increasing the issuance of short-term debt instruments (central bank transfers and Islamic certificates of deposit), adjusting subscription limits for banks in central bank auctions, and improving liquidity forecasting tools and practices."
TNT:
Tishwash: IMF: Iraq has made progress in transitioning to a new system for financing foreign trade.
The International Monetary Fund (IMF) mission considered that the Central Bank of Iraq has achieved "significant progress" by transitioning to a new system for financing foreign trade.
A statement issued by the bank quoted the mission as confirming that "the Central Bank of Iraq has made progress in absorbing excess liquidity by increasing the issuance of short-term debt instruments (central bank transfers and Islamic certificates of deposit), adjusting subscription limits for banks in central bank auctions, and improving liquidity forecasting tools and practices."
The statement added, "The mission commended the Central Bank of Iraq's efforts to successfully transition to the new trade finance system," noting that commercial banks now process trade finance transactions entirely through their relationships with correspondent banks.
According to the mission, "the Central Bank of Iraq has made significant progress by transitioning to a new system for financing foreign trade through correspondent banking channels, instead of relying on the daily dollar auction."
According to the statement, the mission indicated that "this development has contributed to enhancing banks' compliance with international transparency requirements, such as OFAC regulations and others, and improving their relationships with global correspondent banks."
The statement added that this step resulted in narrowing the gap between the official dollar exchange rate and its parallel exchange rate, indicating relative success in curbing illegal speculation and reducing currency leakage.
The statement continued, citing the IMF mission, that "the methodology for managing foreign exchange has become more effective than before, especially with the Central Bank of Iraq continuing to implement complementary measures such as requiring traders to submit genuine import invoices and simplifying procedures for obtaining hard currency for legitimate importers." link
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Tishwash: Al-Sudani: "Made in Iraq" is a national project we are counting on.
Prime Minister Mohammed Shia al-Sudani inaugurated, on Wednesday, the Construction Cooperation Center (Construction Basket), which was implemented by the General Company for Construction Materials Trade at the Ministry of Trade, in partnership with the private sector.
During the opening ceremony, Al-Sudani emphasized that the project contributes to providing building materials at competitive prices and convenient installments to citizens, particularly targeted groups such as retirees, those covered by the social security network, martyrs' families, and employees.
The Prime Minister praised the efforts of the Ministry of Trade and those behind the project, considering the "Made in Iraq" concept a working method for restoring prestige to national industry, given the "real revolution" the construction sector is witnessing, both through state projects and at the investment level.
Al-Sudani directed a coordination workshop to be held among relevant authorities to establish a mechanism enabling citizens to obtain loans and building permits, while also securing the construction materials they need to build a home.
He pointed out that the government has adopted a cooperative approach, with public sector participation, to control commodity prices, starting with food items through the "hypermarket" project, and now in the construction sector through the "construction basket."
He explained that the project provides construction materials in accordance with Iraqi standard specifications and supports housing projects by granting investment licenses for approximately one million housing units, in addition to initiatives by the Housing Fund and the Real Estate Bank.
He explained that sovereign guarantees for the private sector focused on industrial sectors, with facilities for investors in constructing various factories. He emphasized the continuation of work with the Federation of Industries and Contractors, and the empowerment of the private sector as a partner in meeting market needs and providing job opportunities.
Al-Sudani concluded by pointing out the need to extend this experience to other governorates, starting with Nineveh and Basra. link
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Tishwash: Integrity: Iraq joins Beijing's Clean Silk Road Initiative
The Federal Integrity Commission announced, on Tuesday (June 24, 2025), Iraq's accession to the "Beijing Clean Silk Road Initiative," indicating that this comes in implementation of Article (3/6) of the Memorandum of Understanding concluded between the Commission and the National Oversight Commission of the People's Republic of China.
In a statement received by Mawazine News, the Commission stated that "the cooperation and coordination between the Commission and the Embassy of the People's Republic of China in Baghdad culminated in joining the initiative after completing the procedures," explaining that this will contribute to strengthening international relations and highlighting the Commission's efforts, endeavors, activities, and achievements in the field of combating corruption.
It noted the confirmation of the National Oversight Commission of the People's Republic of China of its readiness to enhance cooperation and joint work with the Commission in the field of combating corruption and law enforcement, to build a Clean Silk Road.
She noted the Commission's welcome and announcement that Iraq has become the eighteenth country to join the initiative, which aims to enhance transparency, financial and intellectual cooperation, develop governance and laws, and promote oversight and legal awareness. It also aims to establish a closer network for cooperation in the field of justice and law enforcement, exchange expertise and information, develop human resources, pursue fugitives, and reject safe havens for fugitives and illicit assets.
The Commission added that the initiative calls for the signing of bilateral treaties on extradition and mutual legal assistance, based on international agreements, and the exchange of information and expertise between relevant anti-corruption agencies. It also calls for launching highly effective anti-corruption cooperation, promoting self-discipline, legal awareness, and a sense of responsibility, and enacting laws to combat corruption and combat bribery, with the aim of creating a sound relationship between governments and companies. link
Mot: Soooooooo -- How HOT is it!!! -- Today!!!!
MilitiaMan and Crew: Iraq Dinar-Restore Global Balance-In the Chief Justice Hands
MilitiaMan and Crew: Iraq Dinar-Restore Global Balance-In the Chief Justice Hands
6-24-2025
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
MilitiaMan and Crew: Iraq Dinar-Restore Global Balance-In the Chief Justice Hands
6-24-2025
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Iraq Economic News and Points To Ponder Tuesday Afternoon 6-24-25
Al-Sudani Directs The Ministries Of Finance And Planning To Expedite Financing And Disbursement Procedures.
Economy | 06/24/2025 Mawazine News - Baghdad: Prime Minister Mohammed Shia Al-Sudani directed the Ministries of Finance and Planning to expedite the completion of financing and disbursement procedures for government projects and programs.
Al-Sudani's government office said in a statement received by Mawazine News, "Prime Minister Mohammed Shia Al-Sudani chaired a meeting today, Tuesday, to approve the schedules of dues for the ministries' investment projects.
Al-Sudani Directs The Ministries Of Finance And Planning To Expedite Financing And Disbursement Procedures.
Economy | 06/24/2025 Mawazine News - Baghdad: Prime Minister Mohammed Shia Al-Sudani directed the Ministries of Finance and Planning to expedite the completion of financing and disbursement procedures for government projects and programs.
Al-Sudani's government office said in a statement received by Mawazine News, "Prime Minister Mohammed Shia Al-Sudani chaired a meeting today, Tuesday, to approve the schedules of dues for the ministries' investment projects.
" The meeting reviewed "the basic details of the projects, as the final schedule was approved to release (2) trillion dinars to cover the ministries' investment plan projects in accordance with the relevant Cabinet decision, which was issued in the twenty-second session of this year, noting that (1.4) trillion dinars were released for investment projects in the governorates, and the Prime Minister directed the Ministries of Finance and Planning to expedite the financing and disbursement procedures."
The statement explained that "this step comes as confirmation of the government's direction towards completing its service projects, which will witness an acceleration in implementation and achievement, based on what was stated in the government program to develop the productive investment, service and economic sectors, in order to provide services to citizens." https://www.mawazin.net/Details.aspx?jimare=263028
Oil Prices Fall To Their Lowest Level In More Than A Week
Energy Economy News – Baghdad Oil prices fell sharply to their lowest levels in more than a week on Tuesday after US President Donald Trump announced a ceasefire agreement between Iran and Israel, easing fears of supply disruptions in the major oil-producing Middle East.
Brent crude futures fell $2.08, or 2.9%, to $69.40 a barrel, after earlier falling more than 4% and touching their lowest level since June 11.
U.S. West Texas Intermediate crude fell $2.03, or 3.0%, to $66.48 a barrel, after falling 6% to its lowest level since June 9 earlier in the session.
Trump announced on Monday that Israel and Iran had fully agreed to a ceasefire. If both sides adhere to the agreed-upon timelines, the war will officially end within 24 hours, bringing the 12-day conflict to a close.
"If both sides adhere to the ceasefire as announced, investors may expect oil prices to return to normal," said Priyanka Sachdeva, senior market analyst at Philip Nova.
"In the future, the extent to which Israel and Iran adhere to the terms of the recently announced ceasefire will play a significant role in determining oil prices," she added.
Iran is OPEC's third-largest crude oil producer, and de-escalation will allow it to export more oil and prevent supply disruptions, a major factor in the rise in oil prices in recent days.
Oil prices fell more than 7 percent at settlement in the previous session, after rising to their highest levels in five months following the US attack on Iranian nuclear facilities earlier this week, which raised fears of an escalation in the Israeli-Iranian conflict. https://economy-news.net/content.php?id=56560
Iraq Resumes Flights In The Southern Regions And Prepares To Open All Its Airports.
Money and Business Economy News – Baghdad The Ministry of Transport announced on Tuesday the opening of Iraqi airspace in the southern region to flights following the entry into force of the ceasefire between Iran and Israel. The ministry said in a brief statement that work is underway to resume flights at all Iraqi airports. https://economy-news.net/content.php?id=56563
Gold Prices Drop Sharply In Baghdad
Stock Exchange Economy News – Baghdad Foreign and Iraqi gold prices fell in local markets in the capital, Baghdad, on Tuesday (June 24, 2025).
Gold prices in the wholesale markets on Al-Nahr Street in the capital, Baghdad, this morning recorded a selling price of 664 thousand dinars per mithqal of 21 karat Gulf, Turkish and European gold, and a purchase price of 660 thousand dinars. Yesterday, Monday, it recorded 678 thousand dinars.
The selling price of one mithqal of 21-karat Iraqi gold reached 634,000 Iraqi dinars, and the buying price was 630,000 Iraqi dinars.
As for gold prices in jewelers' shops, the selling price of a mithqal of 21-karat Gulf gold ranges between 665,000 and 675,000 dinars, while the selling price of a mithqal of Iraqi gold ranges between 635,000 and 645,000 dinars. https://economy-news.net/content.php?id=56567
The Dollar Price Is Falling In Baghdad.
Economy | 12:59 - 06/24/2025 Mawazine News - Baghdad - The dollar exchange rate witnessed a decline on Tuesday in local markets in three Iraqi governorates. The selling price in Baghdad reached 143,500 Iraqi dinars for $100, while the buying price reached 142,250 Iraqi dinars. https://www.mawazin.net/Details.aspx?jimare=263030
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/
Nations Pull Gold from U.S. as War Looms and Debt Spirals
Nations Pull Gold from U.S. as War Looms and Debt Spirals
Taylor Kenny: 6-24-2025
Includes facts about World War 2, Vietnam War and Iraq War
War isn't random—and neither are the financial consequences. From WWII to Vietnam to Iraq, the same pattern emerges: fiat fails, markets crumble, and gold protects.
This video reveals how gold repeatedly outperforms during geopolitical chaos—and what that means for the next crisis.
Nations Pull Gold from U.S. as War Looms and Debt Spirals
Taylor Kenny: 6-24-2025
Includes facts about World War 2, Vietnam War and Iraq War
War isn't random—and neither are the financial consequences. From WWII to Vietnam to Iraq, the same pattern emerges: fiat fails, markets crumble, and gold protects.
This video reveals how gold repeatedly outperforms during geopolitical chaos—and what that means for the next crisis.
Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 6-24-25
Good Afternoon Dinar Recaps,
Ledger Unveils 'Recovery Key' — A Tap-to-Recover Hardware Option for Crypto Wallets
As crypto adoption soars, Ledger introduces a new physical key to simplify wallet recovery while keeping self-custody secure.
Ledger has introduced Recovery Key, a new physical “spare key” designed to help users recover access to their crypto wallets with just a tap and PIN entry — no intermediary required.
Good Afternoon Dinar Recaps,
Ledger Unveils 'Recovery Key' — A Tap-to-Recover Hardware Option for Crypto Wallets
As crypto adoption soars, Ledger introduces a new physical key to simplify wallet recovery while keeping self-custody secure.
Ledger has introduced Recovery Key, a new physical “spare key” designed to help users recover access to their crypto wallets with just a tap and PIN entry — no intermediary required.
◾ The feature is specifically compatible with Ledger Flex and Ledger Stax, the company’s e-ink touchscreen wallet products.
◾ Recovery Key works via secure NFC wireless communication, leveraging the same hardware-grade security that powers Ledger’s main devices.
◾ Users can now pair Recovery Key with their existing 24-word seed phrases or opt to use Ledger Recover, the company’s encrypted key-splitting recovery service. All are optional.
A Modern Approach to Backup and Recovery
As crypto’s market cap grew by nearly $1 trillion over the past year, Ledger says the demand for secure, practical recovery tools is more urgent than ever.
◾ Users can generate an always-offline backup key, secured with its own PIN and stored on tamper-resistant hardware.
◾ There is no limit to the number of Recovery Keys users can create — each requires device-side confirmation.
◾ “Too many people are compromising by keeping their assets on exchanges and insecure software wallets,” said Ian Rogers, Ledger’s Chief Experience Officer.
“With Ledger Recovery Key we are making secure self-custody easy-to-use for everyone.”
Built for Transparency and Trust
Ledger emphasized that transparency and auditability are foundational to the new feature’s rollout.
◾ The Recovery Key’s code and whitepaper are publicly available for community review.
◾ It has passed multiple rounds of internal security testing, including scrutiny by Ledger’s in-house white-hat team, the Donjon.
◾ Third-party external security audits were also conducted, and Ledger reports “extremely positive feedback” from experts.
“We’re excited to reveal it to the world for even more feedback ahead of its launch,” said Ledger CTO Charles Guillemet.
Complementary Options: Recovery Key, Ledger Recover, or 24-Word Phrase
Ledger is expanding its self-custody toolkit by offering layered options that address the needs of different users without compromising on control.
◾ The new Recovery Key joins Ledger Recover, a paid service launched in 2023 that splits, encrypts, and stores seed phrases across multiple jurisdictions.
◾ Recovery Key is standalone and optional, and users may use one, both, or neither, depending on their security preferences.
◾ Despite community concerns about personal data and custodial risk, Ledger maintains that its multi-path recovery strategy offers flexibility and safety.
Ledger Surpasses 7.5 Million Devices Sold
The launch follows successful adoption of Ledger Stax and Ledger Flex, which helped drive total device sales past the 7.5 million mark. The Paris-based firm says its expanding ecosystem reflects growing global interest in secure self-custody tools.
@ Newshounds News™
Source: The Block
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Democrats Push COIN Act to Regulate Trump’s Crypto Influence
Senator Adam Schiff targets Donald Trump’s growing ties to crypto with a bill designed to curb political profiteering in digital assets.
Former President Donald Trump’s private dinner for memecoin holders has ignited a political backlash, triggering new legislation aimed at restricting crypto activity by political leaders. Democratic Senator Adam Schiff has introduced the COIN Act — Curbing Officials’ Income and Nondisclosure — to close what he calls an emerging loophole between digital finance and political power.
▪️ The COIN Act would bar current and former top U.S. officials from creating, promoting, or investing in cryptocurrencies, NFTs, or stablecoins during and for two years after their terms.
▪️ Schiff directly targets Trump’s alleged $57 million gains from the family-linked crypto platform World Liberty Financial (WLF).
▪️ The bill follows a Trump-hosted dinner that rewarded top holders of his personal memecoin.
Crypto Influence: A New Political Battleground
Senator Schiff warns that Trump’s crypto engagements mark a dangerous fusion of personal enrichment and institutional authority.
▪️ Schiff claims Trump is using crypto as “a lever for private financial gain” through World Liberty Financial, in which the Trump family held a majority stake before reducing it to 40%.
▪️ A controversial turning point: WLF’s launch of the USD1 stablecoin, later cited in a $2 billion Abu Dhabi investment announcement involving Binance.
▪️ Trump’s estimated $3 billion in digital assets — nearly 40% of his total net worth — raises red flags for Democrats who view this as financial soft power cloaked in populism.
“This is not just a tech issue — it’s a political integrity crisis,” Schiff said, framing the bill as a moral firewall between officeholders and DeFi ventures.
Democratic Counteroffensive: TRUMP in Crypto Act
Schiff is not alone in his push to draw a regulatory line. In the House of Representatives:
▪️ Maxine Waters has proposed the provocatively named TRUMP in Crypto Act, designed to explicitly ban political use of memecoins.
▪️ The bill’s timing? It dropped the same day Trump hosted his memecoin backers — a deliberate statement, not a coincidence.
Congressional Reality and Electoral Optics
Despite the bold proposals, both bills face major hurdles:
▪️ Democrats remain in the minority in Congress.
▪️ A presidential veto remains highly likely if either bill reaches Biden’s desk.
▪️ A two-thirds majority needed to override such a veto seems mathematically unreachable.
Still, Schiff and Waters are playing a longer game: influencing public opinion and reframing crypto as a 2024 campaign battleground.
Crypto: Campaign Currency or Conflict of Interest?
Trump’s crypto strategy, once seen as novel, now appears as a calculated expansion of influence and fundraising reach. Schiff sees crypto as:
▪️ A soft power tool used by political elites to reward loyalty.
▪️ A bypass around traditional financial disclosure norms.
▪️ A growing threat to transparency in both governance and elections.
“Crypto is no longer just code — it’s campaign capital, it’s a narrative weapon, it’s contested political territory.”
Conclusion: The Future of Political Crypto Regulation
The COIN Act and its House counterpart may struggle legislatively, but their symbolic value is growing. These proposals:
▪️ Reframe blockchain technology as a governance issue, not just a financial tool.
▪️ Signal that crypto oversight may soon become a partisan wedge issue.
▪️ Reflect the shifting reality: the blockchain is now electoral infrastructure.
@ Newshounds News™
Source: CoinTribune
~~~~~~~~~
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Basel 3, The BRICS & Financial Disorder
Basel 3, The BRICS & Financial Disorder
Miles Harris: 6-23-2025
As Western regulators tighten liquidity rules under Basel III, gold—the oldest store of value—has been quietly sidelined from modern banking.
Yet at the same time, BRICS nations are accumulating it with strategic intent. Is this a regulatory oversight... or part of a deeper global shift?
In this analysis, we’ll explore how Basel III shapes financial behaviour in the West—while BRICS nations operate on an entirely different playbook.
Basel 3, The BRICS & Financial Disorder
Miles Harris: 6-23-2025
As Western regulators tighten liquidity rules under Basel III, gold—the oldest store of value—has been quietly sidelined from modern banking.
Yet at the same time, BRICS nations are accumulating it with strategic intent. Is this a regulatory oversight... or part of a deeper global shift?
In this analysis, we’ll explore how Basel III shapes financial behaviour in the West—while BRICS nations operate on an entirely different playbook.
What emerges is not just a regulatory gap, but a structural divergence that may well redefine the future of money.
Seeds of Wisdom RV and Economic Updates Tuesday Morning 6-24-25
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Iran Stands Firm as BRICS Calls US Strikes a Global Turning Point
Iran’s defiance in the face of US military action strengthens BRICS unity, marks a pivotal moment in the global economic and geopolitical order.
Amid escalating tensions, Iranian President Masoud Pezeshkian has emerged as a symbol of resistance, leading mass protests in Tehran following U.S. military strikes on Iran’s nuclear facilities in Isfahan, Natanz, and Fordo. In response, the BRICS bloc has rallied behind Iran, framing the attacks as a turning point in Western aggression against emerging powers.
Good Morning Dinar Recaps,
Iran Stands Firm as BRICS Calls US Strikes a Global Turning Point
Iran’s defiance in the face of US military action strengthens BRICS unity, marks a pivotal moment in the global economic and geopolitical order.
Amid escalating tensions, Iranian President Masoud Pezeshkian has emerged as a symbol of resistance, leading mass protests in Tehran following U.S. military strikes on Iran’s nuclear facilities in Isfahan, Natanz, and Fordo. In response, the BRICS bloc has rallied behind Iran, framing the attacks as a turning point in Western aggression against emerging powers.
▪️ The U.S. actions have been denounced as violations of international law by BRICS nations.
▪️ Iran’s resilience has reinforced BRICS unity and accelerated its push toward a multipolar world order.
▪️ BRICS views Iran’s handling of sanctions and pressure as a model for financial independence and strategic realignment.
A Defiant Iran Within a Strengthened BRICS Framework
Iran's president and foreign ministry have presented a firm front, signaling that the U.S. attack has only deepened Iran’s commitment to BRICS values.
▪️ Iranian Foreign Minister Abbas Araghchi accused the U.S. of deciding to “blow up diplomacy” and challenged calls for renewed negotiations:
“How can Iran return to something it never left?”
▪️ In Istanbul, Araghchi declared the U.S. and Israel had crossed “a big red line”:
“There is no red line that they have not crossed.”
▪️ Iran’s response aligns with BRICS’ multipolar vision and reinforces its stance on sovereignty, self-determination, and non-interference.
Russia’s Condemnation Signals BRICS Cohesion
Russia swiftly condemned the strikes, reinforcing the growing strategic alignment within the bloc.
▪️ The Russian Foreign Ministry stated the U.S. had violated the UN Charter and international law:
“This reckless decision… constitutes a blatant violation of international law, the UN Charter, and relevant UN Security Council resolutions.”
▪️ Moscow’s response places BRICS in direct opposition to unilateral U.S. military action, deepening its appeal among developing nations seeking alternatives to Western institutions.
Economic Reorientation: Iran's Sanctions and BRICS Integration
Iran’s economy, long impacted by U.S.-led sanctions, is undergoing structural realignment through BRICS support.
▪️ Chinese purchases of Iranian oil using yuan, and Russian technology transfers, are creating practical alternatives to the dollar-based system.
▪️ Iran is becoming a case study in how emerging economies can resist Western financial pressure by joining new global partnerships.
▪️ BRICS support extends beyond diplomacy, offering concrete economic lifelines and access to alternative markets.
Regional Impact and Ceasefire
While a ceasefire brokered via Qatar has paused hostilities, tensions remain high.
▪️ Former President Trump stated Iran “must now agree to end this war,” while President Pezeshkian labeled the U.S. “the main factor behind” Israel’s campaign.
▪️ Iranian forces reportedly continued military operations until 4 a.m., demonstrating readiness and resolve.
Strategic and Geopolitical Implications
The crisis has crystalized BRICS’ long-term goals:
▪️ Sovereignty, non-interference, and financial independence are now strategic imperatives.
▪️ The economic power shift from West to East continues gaining momentum, driven by BRICS' expanded influence and appeal.
▪️ New members are increasingly attracted to BRICS, not just for economic benefits, but for protection from Western-led interventions.
“The BRICS response to U.S. strikes will likely strengthen, not weaken, the alliance. This is a watershed moment for global realignment.”
Conclusion: A New Global Order Takes Shape
The unified BRICS stance following U.S. strikes on Iran marks a defining moment in the shift toward a multipolar world. As Iran models how resilience and realignment can neutralize Western leverage, other nations may follow, accelerating the de-dollarization movement and reinforcing BRICS as a viable global counterweight.
@ Newshounds News™
Source: Watcher Guru
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“Tidbits From TNT” Tuesday Morning 6-24-2025
TNT:
Tishwash: MP sues government over delay in sending budget tables to parliament
Member of Parliament Hadi Al-Salami revealed on Monday that a lawsuit has been filed against the government for not submitting the 2025 budget schedules to Parliament.
Al-Salami said in a video that "the government violated Article 62 of the Constitution, Financial Management Law No. 6 of 2019, and Budget Law No. 23 of 2023," noting that "these violations negatively impacted the lives of citizens."
TNT:
Tishwash: MP sues government over delay in sending budget tables to parliament
Member of Parliament Hadi Al-Salami revealed on Monday that a lawsuit has been filed against the government for not submitting the 2025 budget schedules to Parliament.
Al-Salami said in a video that "the government violated Article 62 of the Constitution, Financial Management Law No. 6 of 2019, and Budget Law No. 23 of 2023," noting that "these violations negatively impacted the lives of citizens." link
Tishwash: Resignation of the Chief Justice of the Federal Supreme Court in Iraq
The Chief Justice of Iraq's Federal Supreme Court submitted his resignation on Monday, following the resignation of nine other members of the court due to an unprecedented constitutional vacuum .
According to local media reports monitored by Al-Sa'a Network, "Federal Supreme Court Chief Justice Jassim Al-Amiri submitted his resignation a short while ago," without providing further details .
Earlier, nine members of the Federal Court submitted a surprise resignation, leaving Iraq facing an unprecedented constitutional vacuum and effectively paralyzing the judicial institution empowered to resolve disputes and interpret laws .
Experts and parliamentarians described the resignation as a paralysis of the state's legal mind, opening the door to a legitimacy crisis affecting all aspects of the regime and placing sovereign issues on hold .
Some political parties and legal experts have also warned against suspending the Federal Court's work, as ultimately only the Federal Supreme Court can resolve the legal issues of governance in Iraq by implementing the provisions of Article 93 of the Constitution and deciding on the public interest link
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Tishwash: About 5,000 foreign oil workers exit Iraq amid Iran–Israel conflict
Thousands of foreign workers employed by international oil companies in Iraq’s Basra province have left the country due to escalating regional tensions following US airstrikes on Iranian nuclear facilities, a senior oil official told Shafaq News on Sunday.
According to the source, a total of 4,860 foreign employees have departed oil sites in southern Iraq since the strikes—part of a wider conflict triggered by Israel’s military campaign and Washington’s direct involvement.
“Approximately 1,700 workers from British Petroleum (BP), 1,000 from France’s TotalEnergies, and 700 from the US-based Schlumberger have exited their sites,” the official said.
In addition, 560 personnel from Italy’s Eni, 500 from Kuwait Energy, and 400 from ExxonMobil have also left their posts in Basra. The source attributed the departures to security concerns stemming from the conflict between Iran and Israel, as well as the heightened risks following the US strikes on key Iranian nuclear facilities in Fordow, Natanz, and Isfahan.
While Iraq has not been directly targeted, fears are mounting that its strategic energy sector could become collateral in the broader regional fallout. The mass withdrawal of foreign technical staff raises concerns about operational continuity in one of the world's most oil-rich provinces.
The Ministry of Oil has not yet issued an official statement on the departures. link
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Tishwash: European countries are pushing to retrieve gold reserves stored in the United States
US President Donald Trump's rhetoric against the Federal Reserve, coupled with escalating geopolitical tensions, has reignited debate in Europe about the need to repatriate gold reserves held in the United States, particularly by Germany and Italy.
In statements to the Financial Times, Fabio De Masi, a former member of the European Parliament for the German Left Party, said there are strong arguments for returning a larger portion of Europe's gold reserves, especially in light of what he described as "challenging times."
Germany and Italy hold the second and third largest gold reserves in the world after the United States, holding 3,352 tons and 2,452 tons of gold, respectively, according to data from the World Gold Council.
A large portion of these reserves are stored in the vaults of the Federal Reserve in New York, where their market value is estimated at approximately $245 billion, according to the Financial Times.
President Trump recently hinted at the possibility of interfering in the Federal Reserve's policies if it does not cut interest rates, raising concerns about the US central bank's independence.
Earlier, US President Donald Trump stated that he would blame the Federal Reserve for any economic weakness resulting from his trade war if the central bank did not cut interest rates soon, according to the Wall Street Journal.
According to the newspaper, Trump "may also seek to delegitimize the historically independent institution in a way that could undermine its effectiveness." link
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