The Latest Bad Premise Could Be a Disaster for the US Dollar
The Latest Bad Premise Could Be a Disaster for the US Dollar
Notes From the Field By James Hickman (Simon Black) February 27, 2025
On October 20, 2022, Liz Truss resigned as UK prime minister after just 44 days in office—the shortest tenure in British history.
She was brought down not by a no-confidence vote or a party coup, but by a full-scale bond market rebellion.
Her government’s proposed mini-budget, featuring sweeping tax cuts, triggered a historic sell-off in UK government bonds (gilts), sending yields soaring and the pound crashing.
The Latest Bad Premise Could Be a Disaster for the US Dollar
Notes From the Field By James Hickman (Simon Black) February 27, 2025
On October 20, 2022, Liz Truss resigned as UK prime minister after just 44 days in office—the shortest tenure in British history.
She was brought down not by a no-confidence vote or a party coup, but by a full-scale bond market rebellion.
Her government’s proposed mini-budget, featuring sweeping tax cuts, triggered a historic sell-off in UK government bonds (gilts), sending yields soaring and the pound crashing.
As panic spread, the Bank of England was forced to intervene to prevent a financial meltdown, and with markets, party members, and the public losing faith, Truss’s premiership collapsed.
Such is the fate of governments when they don’t control the global reserve currency.
The US government should heed this warning.
But it seems more likely to barrel ahead with the false premise: America will always remain THE dominant global superpower that can do whatever it wants.
That’s the subject of today’s podcast.
We discuss these types of false premises— Iraq has weapons of mass destruction, it will take just two weeks to stop the spread of COVID— mistakes that over and over cost the US trillions of dollars.
And nowhere is this more egregious today than in the idea that the US dollar will remain the reserve currency, whatever the US does to push other countries away.
We talk about how a series of laws has escalated the weaponization of the US dollar, starting with the PATRIOT Act in 2001, then FATCA in 2010, and the freezing of Russia’s US assets in 2022.
Now, the Mar-A-Lago Accord is being floated, which includes an idea to strong-arm US allies into swapping their US Treasuries for 100-year, non-tradeable, zero-coupon bonds.
After all, the argument goes, the US provides defense for much of the world, it is only right that other nations should pay for it in some way.
But we discuss why this is such a bad idea, and how it will only push countries into finding alternatives for the US dollar, robbing the US of its power to influence global affairs with the currency, and stripping the US dollar of much of its demand, and therefore value.
You can listen to the full podcast here.
(For the audio-only version, check out our online post here.)
To your freedom, James Hickman Co-Founder, Schiff Sovereign LLC
The Public Debt Explosion and What it means for Markets
The Public Debt Explosion and What it means for Markets
Kinesis Money: 3-6-2025
The world is drowning in debt. This isn’t breaking news, but the sheer scale and potential consequences of the ongoing public debt explosion are increasingly demanding attention.
In a recent episode of Kinesis Money’s “Talking Trades,” market analysts Patrick Karim and Kevin Wadsworth delved deep into this issue, exploring what runaway debt actually means for markets and investors.
So, what does this debt explosion entail? Simply put, it’s the rapid increase in the amount of money governments owe to individuals, businesses, and other countries.
The Public Debt Explosion and What it means for Markets
Kinesis Money: 3-6-2025
The world is drowning in debt. This isn’t breaking news, but the sheer scale and potential consequences of the ongoing public debt explosion are increasingly demanding attention.
In a recent episode of Kinesis Money’s “Talking Trades,” market analysts Patrick Karim and Kevin Wadsworth delved deep into this issue, exploring what runaway debt actually means for markets and investors.
So, what does this debt explosion entail? Simply put, it’s the rapid increase in the amount of money governments owe to individuals, businesses, and other countries.
This debt accumulates when governments spend more than they collect in revenue, forcing them to borrow to cover the shortfall.
The discussion also explored the implications for specific markets. Karim and Wadsworth pointed out that assets perceived as safe havens, like gold and silver, tend to perform well in environments of high debt and currency debasement.
They also emphasized the importance of carefully analyzing individual companies’ debt levels and financial health, as those with high debt burdens may be particularly vulnerable to rising interest rates and economic downturns.
The growing public debt explosion presents a complex and multifaceted challenge for markets and investors. While the exact timing and magnitude of its impact remain uncertain, the potential consequences are significant.
The key takeaway from Karim and Wadsworth’s analysis is the need for vigilance and informed decision-making. Investors should consider diversifying their portfolios, allocating assets to safe havens, and carefully evaluating the debt levels of the companies they invest in.
By understanding the potential risks and opportunities associated with the public debt explosion, investors can better navigate the turbulent waters ahead and protect their wealth.
“Coffee With MarkZ” Thursday Morning Chat 3-6-2025
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Gooood morning Mark, mods and fellow RV’ers!
Member: Happy Thursday! I hope it is a good one.
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Gooood morning Mark, mods and fellow RV’ers!
Member: Happy Thursday! I hope it is a good one.
Member: Any bond or RV news today Mark?
MZ: There are many stories of people who have been processing throughout the week. They are being told they plan to have them all done by the 17th or 18th of March. So IMO we can go at anytime between now and then.
MZ: I do have somebody who expects to keep their appoint to change their currency late this afternoon. , I think they may be premature. I should know by tonight if they are allowed to or not….it may be a banker who was optimistic and set the appointment. They have not yet canceled it.
MZ: It would make my day if they got to exchange. Even if the bank jumped the gun.
Member: I have heard that the Tier 1 ( Bonds) goes first, and provides liquidity for Tier 2 through Dubai 1, and each Tier provides liquidity for the next... .
Member: Mtn Goat posted that until Iran was broken completely and out of Iraq’s business that the US would never allow the dinar to be released. What are your thoughts?
MZ: I think Iran is now pretty much out of Iraq.
MZ: “Tomorrow : the end of the US “manhunt” for exporting Iranian gas to Iraq” this is part of removing the Iranian influence. Many say this is the last step on severing this tie.
Member: US has 500 spec ops soldiers that will be doing militia cleanup this weekend assisting Iraqi forces
Member: The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Tuesday, that there are 20 Iraqi banks that practice direct transfer operations in 8 foreign currencies.
MZ: And they are getting ready to add other banks.
MZ: “After a stalemate of several weeks- parliament plans a Saturday session” Even though it is Ramadan…they are having a session.
Member: Keep in mind... Kuwait RV'd during Ramadan...!
MZ: “ The minister of oil announces the imminent activation of the export file through the Turkish port of Ceyhan” In the next couple days they tell us oil will be pumping freely.
MZ: “Sudani issues directives on the development of electronic banking systems and the promotion of digital transactions” They have to have an business bank account in an Iraqi bank. This is part of the new monetary reforms.
MZ: There are a couple of new currencies: “Nambia’s new currency series set for June”
MZ: The Caribbean gildor is expected March 31st. Many countries are doing the same thing. Iraq is one of them. Vietnam is talking about new bills and currency. Worldwide many are talking about new bills and new currency.
Member: We got all new bills in the UAE this year and last
Member: Everyone is moving to stable gold backed currency
Member: I wonder- will all these new currencies have to be in place for us to RV?
Member: Bo Polny says the prophets say crash of the DOLLAR to bring out the new gold-backed dollar, expected next week
Member: Hmm gotta ask ourselves why new currencies coming out....makes me warm and fuzzy
Member: Trump's currency parity seems to imply each currency should be at least dollar to dollar
Member: Namibia. huge oil deposit there.
Member: Since we have been waiting so long-Will the two inches of dust on our currency and bonds affect the Delarue machines?
MZ: Just dust them off…lol
Member: Could a government shutdown trigger the RV?
MZ: It sure could.
Member: I don’t care who flips the switch…as long as it gets flipped
MZ: 99.9% of us agree with you.
Member: Chase bank story-my brothers friend called St Louis Chase bank last week, Asked teller about currency exchange, teller knew about it and transferred him to a wealth manager immediately
Member: I asked a personal banker “ where would I go if I had some foreign currency that needed to be exchanged?” She told me to make an appointment and they could do it at that branch… Wells Fargo.
Member: How do they know who to send emails to? Other than recaps, how would anyone know I have exchangeables?
Member: According to Mark and other Gurus, if you have purchased any currency from legit sites, they know.
Soooo what"s the plan? The day "you" Mark, go to exchange...you will wear your gold attire?
Member: I know this will happen. This has taken so long but the reset is necessary for the GCR.
Member: could we see the light in the end of the tunnel this month?
Member: Dear God- I hope so.
Member: Always said we will see green on St Patrick's Day!
Member: Hope springs eternal. Everyone have a good day.
StacieZ joins the stream today. Please listen to the replay for her information
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...
Mod: MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM
MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.
ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut
THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL TUESDAY THROUGH THURSDAY EVENINGS FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS! FROM NOW ON NO MORE NIGHTLY PODCASTS ON MONDAYS AND FRIDAYS
News, Rumors and Opinions Thursday 3-6-2025
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Thurs. 6 March 2025
Compiled Thurs. 6 March 2025 12:01 am EST by Judy Byington
Wed. 5 March 2025: GLOBAL CURRENCY RESET: THE MOMENT HAS ARRIVED …Nesara Gesara on Telegram
Mon. 3 March 2025 – This is it: The world is shifting before our eyes.
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Thurs. 6 March 2025
Compiled Thurs. 6 March 2025 12:01 am EST by Judy Byington
Wed. 5 March 2025: GLOBAL CURRENCY RESET: THE MOMENT HAS ARRIVED …Nesara Gesara on Telegram
Mon. 3 March 2025 – This is it: The world is shifting before our eyes.
Trump’s SOTU-style address is expected to change everything. NESARA/GESARA, the New Republic, the end of fiat, and the Global Currency Reset—all signs point to MAJOR announcements.
Bondholders are (allegedly) getting paid, confirmations are rolling in. Private sector transactions are (allegedly) 100% confirmed. Sources say Trump (allegedly) signed off on the RV days ago. The moment of activation is NOW.
Trigger groups are (allegedly) starting TODAY. Notifications could go out at ANY MOMENT. Spendable money is coming—stay alert. Paymasters and banks are on HIGH ALERT.
Redemption centers set to open for a month—THIS IS NOT A DRILL. Exchanges have (allegedly) been scheduled at major banks. High-level sources confirm financial realignments are IMMINENT.
March 3, 2025: US Inc. DISSOLVED. The Fiat monetary system is (allegedly) OVER. The privately-owned Federal Reserve and IRS are (allegedly) SHUTTING DOWN. BlackRock—the Cabal’s financial arm—is BANKRUPT.
All non-Basel III compliant banks WILL CLOSE. The era of free, manipulated money is OVER. Gold-backed currency is here.
NESARA/GESARA ACTIVATED. The Quantum Financial System (QFS) is (allegedly) live, bringing the greatest wealth transfer in history. 134 nations are (allegedly) abandoning fiat dollars—gold-backed currencies are the new reality.
The new U.S. Republic(allegedly) begins its fiscal year under a gold-backed US Note. The Global Currency Reset is now a REALITY.
~~~~~~~~~~~~~
Wed. 5 March 2025 Quantum Financial System …QFS on Telegram
QFS Functions and Characteristics: (allegedly)
No fiat currency is legal in QFS. Banks are no longer in control. Banks are now obsolete!
QFS puts an end to corruption, and manipulation within the banking system and Central Banking system.
QFS is completely independent from existing centralized banking systems; makes all other transfer systems obsolete.
QFS is not crypto-currency. After REVAL (re-evaluation) all sovereign currencies will be asset-backed.
QFS activation ends “Central Banking System” that perpetuates what some refer to as “Debt Slavery.”
QFS is alive with controllable Artificial Intelligence that creates financial security and transparency.
A country’s sovereign currency will have the same value as another country’s sovereign currency.
Each QFS account throughout the world will be solely owned by the account holder, not owned by banks or governments.
QFS replaces SWIFT with new transparent CIPS (Cross-Border Interbank Payment System).
QFS runs on a new Photonic Computer – based on 24 GPS orbiting satellites (protected by the new U.S. Space Force). All funds are GPS traceable forever.
~~~~~~~~~~~~
Alliance Plan
NESARA/GESARA Debt Forgiveness implementation
QFS implemented
Federal Reserve dead, IRS under new US Treasury
New tax system where there is only a 14% tax on new items bought only, no tax on food or medicine, wages, etc.
Read full post here: https://dinarchronicles.com/2025/03/06/restored-republic-via-a-gcr-update-as-of-march-6-2025/
Courtesy of Dinar Guru: https://www.dinarguru.com/
Sandy Ingram Changes are happening in Iraq. We can only hope this means an increase, even a small increase, in the value of the currency is on the agenda further down the road. We have reason to believe the value of the currency will automatically push up once the Development Road Project is in place...
Frank26 [Iraq boots-on-the-ground report] FIREFLY:It appears to us there was no auction on Monday. We don't see anything on the television and the news like usual. We don't see it... FRANK: We noticed that too that there were no auctions. I really don't care...The auctions are no longer important to us but I'd like to see the flow of money, of cash money, I don't know if this is Sudani's way of continuing to hide information from Parliament. That's the only reason I can come up with...
************
Gold/Silver Price Suppression Failing? | Andy Schectman
Liberty and finance: 3-5-2025
Andy Schectman, CEO of Miles Franklin Precious Metals, discussed key developments in the precious metals market, particularly gold and silver.
He emphasized the increasing resilience of precious metals, noting the unusual rise in standing deliveries on COMEX, signaling significant interest from sophisticated traders, nation-states, and central banks.
Schectman highlighted the massive delivery of silver and gold, particularly noting the shift in bullion from major commercial banks to non-bullion entities, which may involve sovereign wealth funds.
He also discussed the growing uncertainty in global markets, with major investors like Warren Buffett holding substantial cash reserves and treasury bonds. Schectman warned of a potential shift in the financial landscape, urging viewers to pay attention to these developments as they signal a possible coming crisis in the precious metals markets.
INTERVIEW TIMELINE:
0:00 Intro
1:46 Gold's rebound
10:00 Insider stock selling
20:00 LBMA & COMEX
33:31 Silver vs gold
Iraq Economic News and Points to Ponder Thursday AM 3-6-25
Iraq Increases Its Gold Reserves By 10 Tons
Money and business Economy News – Baghdad The World Gold Council announced on Wednesday that Iraq has increased its reserves of the precious metal by 10 tons.
According to the latest schedule published by the Council in March, which was reviewed by Al-Eqtisad News, “Iraq increased its gold holdings by 10 tons, bringing its holdings to 162.7 tons, after it was 152.7 tons last month, which represents 13.6% of its remaining reserves.”
Iraq Increases Its Gold Reserves By 10 Tons
Money and business Economy News – Baghdad The World Gold Council announced on Wednesday that Iraq has increased its reserves of the precious metal by 10 tons.
According to the latest schedule published by the Council in March, which was reviewed by Al-Eqtisad News, “Iraq increased its gold holdings by 10 tons, bringing its holdings to 162.7 tons, after it was 152.7 tons last month, which represents 13.6% of its remaining reserves.”
He added, "Iraq reached the 28th rank on the list out of 100 countries included in the table," indicating that "Iraq came in fourth place in the Arab world after Saudi Arabia, Lebanon and Algeria."
The Council pointed out that "the United States of America tops the list of countries with the largest gold holdings in the world, with 8,133 thousand tons, followed by Germany with 3,351 thousand tons, then Italy with 2,451 thousand tons, while Iceland came in last with 2 tons."
Increasing gold reserves means increasing the amount of gold held by the state or the central bank as a financial reserve, in order to enhance financial security and the ability to confront economic or financial crises.
The World Gold Council is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world. https://economy-news.net/content.php?id=53153
Oil: Negotiations With An American Company To Develop The Oil Side Of The Nahr Bin Omar Field
Energy Economy News – Baghdad The Ministry of Oil announced, on Wednesday, that there are negotiations with the American company Halliburton to develop the Nahr Bin Omar field in Basra.
The Undersecretary of the Ministry of Oil for Extraction Affairs, Basem Mohammed Khader, said in a statement reported by the official news agency, and seen by "Al-Eqtisad News", that "the Nahr Bin Omar field is an oil and gas field, as the contract for the gas was signed and the contracting company began its work."
He pointed out that "there are negotiations with the American company Halliburton to develop the oil side of the field, in line with the gas investment project in the Bin Omar River."
He explained that "the gas project aims to produce about 300 million standard cubic feet per day, in two phases," stressing that "the establishment of gas facilities requires a long time, and the minimum period for their establishment and operation is estimated at about three years." https://economy-news.net/content.php?id=53161
Basra Oil Falls By More Than 2%
Wednesday 05 March 2025 09:12 | Economic Number of readings: 266 Baghdad / NINA / The prices of Basra heavy and medium crude oils continued to decline by more than 2%.
The prices of Basra heavy crude fell by $2.11, equivalent to 2.96%, to reach $79, while the prices of Basra medium crude fell by $2.11, equivalent to 2.84%, to reach $72.12.
Brent crude today recorded a decrease of 31 cents and reached $70.076 per barrel, and the US Texas crude also recorded a decrease of 64 cents to reach $67.63 per barrel. / End https://ninanews.com/Website/News/Details?key=1190089
Government Advisor: Iraq Development Fund Targeted 6 Key Sectors
Mohammed Al-Najjar Construction and reconstruction Economy News – Baghdad On Wednesday, the Prime Minister's Advisor for Investment Affairs, Mohammed Al-Najjar, explained the strategy adopted by the Iraq Development Fund to ensure the implementation of projects efficiently and transparently, while pointing to the role of international auditing companies in this context.
Al-Najjar said in a statement reported by the official news agency, and reviewed by "Economy News", that "the Iraq Development Fund targeted 6 main sectors in its investments, and these sectors were chosen because they represent Iraq's crises, as we invest in housing, education, digital transformation, smart industry, smart agriculture, and the environment, and each unit of them is a major crisis, and the fund turns this crisis into commercial and economic opportunities that investors benefit from to help us find sustainable solutions to it."
He added, "Every project launched by the Fund looks at a set of criteria. The first criterion is the amount of employment created by these projects, and there are two types of employment: employment during implementation and employment after operation."
“As for industry, we expect 30 to 40 percent of the materials that will be used to be locally made,” he continued, explaining that “now we can provide part of the iron and a large percentage of the cement locally, while most of the remaining materials are imported.
We hope that by launching these major projects, they will be transformed and there will be a great need to establish these factories, and we, as a fund, are now supporting the establishment of a ceramic factory, a brick factory, factories that support our industry, and factories for school trips, among others.”
He pointed out that "the fund is audited in three aspects, including the presence of a body that submits separate reports from the executive management to the board of directors, and this process is managed by an international company, and there is another company that audits the fund's operations, which is like accounting, and this is also another company different from the first, and thirdly, there is the Financial Control Bureau that conducts the local audit of what we do."
He pointed out that "the fund works within global standards and governance, the aim of which is to find or create a fund capable of being a repository for foreign investments when they enter Iraq,"
noting that "Iraq's previous and current laws do not qualify it to bring direct investments into state departments and so on because they are not compatible with the world, and in the fund, its establishment and governance, we made them compatible with the laws of the world." https://economy-news.net/content.php?id=53163
The Annual Inflation In Iraq Decreased To 2.8%
Economics Shafaq News/ The Central Bank of Iraq announced today, Wednesday, the decrease in the country's annual inflation to 2.8%. The bank said in a statement received by Shafaq News, that
"the annual inflation decreased in Iraq from 4% to the fourth semester of 2023 to 2.8% for the same semester of 2024." He added that
"the basic inflation also decreased from 4.5% for the fourth semester of 2023 to 2.5% for the same semester of 2024." He pointed out that
"general and basic inflation falls at acceptable rates, and
this reflects the price stability and the success of monetary policy in Iraq."
Iraq witnessed fluctuations in inflation rates during the past years.
Future expectations vary; Where reports in October 2024 reported the expectations of the International Monetary Fund, a slight increase in the inflation index in Iraq to 3.5% in 2025, with a decrease to 3% by 2029.
The low inflation means a decrease in the increase in the annual price of goods and services, which enhances the purchasing power of citizens and reflects economic stability. https://shafaq.com/ar/اقتصـاد/انخفاض-التضخم-السنوي-في-العراق-لى-2-8
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/
Seeds of Wisdom RV and Economic Updates Thursday Morning 3-06-25
Good Morning Dinar Recaps,
WHITE HOUSE CRYPTO SUMMIT 2025: EVERYTHING IMPORTANT YOU NEED TO KNOW
The White House Crypto Summit on March 7 will bring together crypto industry leaders and regulators for a night that many believe could shed more light on President Trump’s plans for crypto in the U.S. Here’s what you need to know.
According to FOX Business journalist, Eleanor Terrett, the summit will be a gathering of around 20 to 25 people at a roundtable setting hosted at the White House.
Good Morning Dinar Recaps,
WHITE HOUSE CRYPTO SUMMIT 2025: EVERYTHING IMPORTANT YOU NEED TO KNOW
The White House Crypto Summit on March 7 will bring together crypto industry leaders and regulators for a night that many believe could shed more light on President Trump’s plans for crypto in the U.S. Here’s what you need to know.
According to FOX Business journalist, Eleanor Terrett, the summit will be a gathering of around 20 to 25 people at a roundtable setting hosted at the White House.
The White House Crypto Summit guest list, according to insiders, will be smaller than expected, but includes major crypto industry leaders and regulators from relevant government bodies. Sources claim attendees will receive official invites from the White House via email.
Earlier this month, AI and crypto czar David Sacks shared the news on his X account, saying that the White House is gearing up to host the first crypto-focused summit on March 7.
“Attendees will include prominent founders, CEOs, and investors from the crypto industry. Look forward to seeing everyone there!” said Sacks in his post.
Due to the limited list of attendees, Terret said that a “larger, invite-only reception” will be held following the meeting for those not invited to the smaller round-table meeting but still considered relevant for the development of the crypto space in the U.S.
“This is all happening in real time with plans not 100% finalized so things could change but that’s what I’m hearing at this hour,” said Terret in her post.
A number of White House officials have also confirmed their attendance, including Executive Director of Presidential Council on Digital Assets Bo Hines, AI and crypto czar David Sacks, SEC Chair Mark Uyeda, and CFTC Chair Caroline Pham.
Meanwhile Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent and Attorney General Pam Bondi have yet to confirm their attendance at the White House Crypto Summit.
So far, around 15 crypto industry leaders from major firms like Strategy, Gemini, Coinbase, Robinhood, Ripple XRP and Crypto.com have confirmed that they will be attending the White House Crypto Summit.
On the other hand, crypto journalist Laura Shin claimed that sources say Cardano Founder Charles Hoskinson has not been invited to attend the summit. Not only that, Solana founder Anatoly Yakovenko also has not confirmed his attendance.
Here’s what we know so far about the upcoming White House Crypto Summit.
Who will be attending the White House Crypto Summit, and who will not?
According to Eleanor Terrett, the list of attendees will include prominent figures from the crypto industry, which includes Strategy Chair Michael Saylor, Paradigm co-founder Matt Huang, CEO of Exodus J.P Richardson, Robinhood CEO Vlad Tenev and Gemini co-founders Tyler Winklevoss and Cameron Winklevoss.
The White House Crypto Summit will also reportedly host major industry players such as Coinbase Base CEO Brian Armstrong, Kraken CEO Arjun Sethi, Bitcoin Magazine David Bailey, Chainlink co-founder Sergey Nazarov, Crypto.com CEO Kris Marszalek, Managing partner at Multicoin Capital Kyle Samani and World Liberty Financial co-founder Zach Witkoff.
Ripple CEO Brad Garlinghouse had been one of the first figures to confirm his attendance, not long after Sacks’ post about the summit.
“I will certainly continue to champion this while in Washington at the end of this week,” Garlinghouse had written in his March 2 post.
According to an Unchained report, inside sources claimed that Garlinghouse had been the one to convince President Trump to include Solana in the crypto reserve in order to make the inclusion of XRP in the reserve “seem more legitimate.”
When asked about the rumor, a Ripple spokesperson did not confirm nor deny it. Instead, he referred to Garlinghouse’s earlier post praising Trump’s crypto vision and emphasizing the importance of cooperation between crypto firms in reaching the industry’s goals.
However at press time, Solana founder Anatoly Yakovenko has not officially confirmed his attendance at the summit. Other crypto figureheads whose attendance status is still unclear include ARK Invest CEO Cathie Wood, Ethereum co-founder Vitalik Buterin and Andreessen Horowitz co-founder Marc Andreessen.
Stablecoin firm leaders Tether CEO Paolo Ardoino and Circle USDC CEO Jeremy Allaire have also stayed quiet about the White House Crypto Summit, despite stablecoin being a major element in U.S. crypto-related policy in recent months.
Moreover, according to Unchained, a White House source claimed Cardano founder Charles Hoskinson will not be invited to the White House Crypto Summit. Many traders found this odd considering ADA is among the tokens Trump listed in his plans for the U.S. Crypto Reserve.
In a video posted on his account, Hoskinson said that he was initially unaware of ADA’s inclusion in Trump’s crypto reserve until the announcement came out.
What will be discussed at the White House Crypto Summit?
The upcoming White House Crypto Summit is set to be a discussion forum where policymakers and industry experts come together to talk about the future of crypto regulations and the U.S. crypto reserve. However, while the event is symbolically important, it may not deliver instant policy changes or a major market turnaround.
As previously reported by crypto.news, Commerce Secretary Howard Lutnick hinted that Trump will talk more about how the Bitcoin strategic reserve will be executed at the White House Crypto Summit on March. 7.
Moreover, the highly-anticipated White House Crypto Summit is expected to provide clarity on the Trump administration’s regulatory plans regarding the advancement of cryptocurrency in the U.S., which could further influence the wider global landscape.
@ Newshounds News™
Source: CryptoNews
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CRYPTO NEWS: CARDANO’S HOSKINSON SNUBBED FOR WHITE HOUSE CRYPTO SUMMIT, RIPPLE CEO ON THE LIST
▪Trump’s White House Crypto Summit Set for March 7 – Key crypto leaders to attend, but Cardano’s Charles Hoskinson is left out.
▪U.S. Crypto Strategy Unfolds – Bitcoin prioritized over altcoins; Trump’s AI & crypto czar David Sacks to lead the discussions.
Anticipation is growing in the crypto world ahead of the White House Crypto Summit set for Friday, March 7, 2025. This first-of-its-kind event is expected to play a crucial role in the future of U.S. crypto policy, possibly launching a U.S. strategic crypto reserve. Several key figures in the industry, including members of former President Donald Trump’s crypto task force, are expected to attend.
However, as the guest list has started to take shape, one notable name is missing:
Cardano co-founder Charles Hoskinson. According to Unchained, a White House source confirmed that Charles Hoskinson was not invited to the summit, nor has Cardano been involved in any policy discussions or meetings with the administration.
“They are running around town trying to push their own sort of narrative. They are not involved in anything about trying to influence policy and they are not invited to Friday’s summit,” the White House source told Unchained.
Hoskinson’s absence is particularly surprising given recent comments from President Donald Trump. On Sunday, Trump mentioned that Cardano’s ADA, would be part of a crypto reserve, which led many to expect Hoskinson’s attendance at the event.
Confirmed Guests for the Summit
Despite the exclusion of Hoskinson, several high-profile crypto industry leaders will be in attendance. The confirmed guest list includes:
▪Brad Garlinghouse – CEO of Ripple
▪Michael Saylor – Founder of MicroStrategy
▪David Bailey – CEO of Bitcoin Magazine
▪Matt Huang – Co-founder of Paradigm
▪JP Richardson – CEO of Exodus
▪Kyle Samani – Managing Partner at Multicoin Capital
▪Zach Witkoff – Co-founder of World Liberty Financial
▪Sergey Nazarov – Co-founder of Chainlink
▪Brian Armstrong – CEO of Coinbase
▪Vlad Tenev – CEO of Robinhood
▪Arjun Sethi – CEO of Kraken
▪Kris Marszalek – CEO of Crypto.com
Hoskinson had previously hinted that he might attend a fundraising dinner for the pro-crypto PAC MAGA Inc., but the White House confirmed that he was not invited to that event either.
Key Focus of the Summit
The summit is set to run from 1:30 p.m. to 5 p.m. ET on March 7 and will be led by David Sacks, President Trump’s appointed AI and crypto czar. One of the main points of discussion will be the handling of Bitcoin and other cryptocurrencies.
Commerce Secretary Howard Lutnick stated in a recent interview that Bitcoin would be treated differently than other altcoins, as it is a significant part of President Trump’s crypto strategy.
@ Newshounds News™
Source: Coinpedia
~~~~~~~~~
SOLANA CO-FOUNDER SAYS A FEDERALLY CONTROLLED CRYPTO RESERVE WILL HARM DECENTRALIZATION ETHOS, PROPOSES STATES CONTROL THEIR OWN RESERVES
Anatoly Yakovenko, the co-founder of the Solana SOL/USD ecosystem, argued against a federal government-controlled cryptocurrency reserve Wednesday, citing a threat to decentralization.
What Happened: In an X post, Yakovenko outlined his order of preference for a potential cryptocurrency reserve.
“No reserve, because if you want decentralization to fail, you'd put the government in charge of it,” he stated as his first and the most ideal choice.
However, if reserves must be set up, Yakovenko said they should be managed by states as a “hedge” against the Federal Reserve making a mistake.
In the case of a federally administered reserve, Yakovenko proposed basing it on “objectively measurable requirements.”
“I don't care what they are, they can even be constructed such that only Bitcoin satisfies them right now, they just must be objectively measurable and rationally justified,” he explained his point.
When questioned if this was an indirect confirmation that no one from Solana pitched SOL for inclusion in the recently announced U.S. cryptocurrency reserve, Yakovenko stated, “No one asked me, and I didn’t pitch it.”
@ Newshounds News™
Source: Benzinga
~~~~~~~~~
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“Tidbits From TNT” Thursday Morning 3-6-2025
TNT:
Tishwash: Inflation's freefall: Iraq hits 2.8%, economic hopes soar
Iraq’s annual inflation rate has dropped to 2.8% in the fourth quarter of 2024, down from 4% a year earlier, the central bank (CBI) announced on Wednesday.
In an official statement, CBI confirmed that core inflation, which excludes volatile food and energy prices, had also declined to 2.5% from 4.5% in the same period of 2023.
“Both headline and core inflation remain within acceptable levels, reflecting price stability and the effectiveness of Iraq’s monetary policy,” the statement read.
TNT:
Tishwash: Inflation's freefall: Iraq hits 2.8%, economic hopes soar
Iraq’s annual inflation rate has dropped to 2.8% in the fourth quarter of 2024, down from 4% a year earlier, the central bank (CBI) announced on Wednesday.
In an official statement, CBI confirmed that core inflation, which excludes volatile food and energy prices, had also declined to 2.5% from 4.5% in the same period of 2023.
“Both headline and core inflation remain within acceptable levels, reflecting price stability and the effectiveness of Iraq’s monetary policy,” the statement read.
The latest figures point to a slower rise in consumer prices, strengthening purchasing power and reinforcing economic stability.
Notably, Iraq has experienced inflation swings in recent years. The annual rate stood at 5% in 2022 before climbing to 6.6% in 2023, driven by currency fluctuations and the impact of the Russia-Ukraine war.
Projections for the coming years remain mixed. An International Monetary Fund report in October 2024 forecast a slight increase to 3.5% in 2025, before easing to 3% by 2029. link
Tishwash: Prime Minister's Advisor Explains Details of "Bridge Borrowing"
Prime Minister's Advisor Explains Details of "Bridge Borrowing"
The Prime Minister's Advisor, Mazhar Muhammad Salih, explained today, Thursday, the details of "bridge borrowing", while indicating that more than 50% of the domestic debt is concentrated in the investment portfolio of the Central Bank.
Saleh told the Iraqi News Agency (INA): "Historically, government borrowing through treasury transfers is a type of short-term borrowing from the banking market that British public finance has adopted since the reign of Queen Victoria."
He added that "this type of borrowing was done for limited periods not exceeding weeks or financial quarters, and is known as (bridge borrowing), as it aims to bridge the temporary deficit gap resulting from the slowdown in revenues compared to actual expenditures."
He pointed out that "due to monthly financial obligations, public finance may resort to issuing treasury transfers as a financing tool to bridge the temporary deficit in the budget until cash flow stabilizes in the next period of the fiscal year."
He added that "in light of the fluctuations in the oil revenue cycle on the general budget over the past ten years, the government was forced to borrow multiple and accumulated, which led to an increase in expenditures in three stages: the first during the war on ISIS terrorism, the second due to the economic closure caused by the pandemic, and finally the increase in expenditures in the areas of reconstruction and implementation of suspended projects."
He added that "these circumstances resulted in the accumulation of domestic public debt, part of which was borne by government banks, as more than half of it was deducted from the Central Bank of Iraq through open market operations."
He stressed that "this necessitated a complementary monetary issuance that led to a significant increase in the monetary mass, especially since the domestic public debt, amounting to 82 trillion dinars, is still mostly within the government financial and banking system, more than 50% of this debt is concentrated in the investment portfolio of the Central Bank."
He added, "On the positive side, this debt is covered by foreign currency by more than 100%, which reflects a high level of monetary stability, as the annual inflation growth rate did not exceed 3%."
He added that "despite these challenges, both the monetary and fiscal authorities seek continuous consultation in order to gradually extinguish the domestic debt," stressing that "the government relies on enhancing financial sustainability by reducing the public debt balance annually and reducing the annual budget deficit to a percentage not exceeding 3% of the gross domestic product."
He concluded that "this approach is part of a fiscal policy aimed at providing financing and protecting economic activity, which contributes to achieving stability and sustainable economic growth through coordination between fiscal and monetary policies." link
************
Tishwash: nothing we are interested is on the agenda but at least they are saying they are going to work but we shall see
Confirming to Shafaq News.. The Iraqi Parliament sets Saturday as the date to resume its sessions
The Iraqi Parliament has set next Saturday, March 8, as the date to resume its sessions, according to what the media department of the parliament reported.
According to the session agenda issued by the media department, and received by Shafaq News Agency, the session will witness voting on the draft law amending the fourth law of industrial investment for the private and mixed sectors, in addition to voting on a decision to recommend the Ministry of Education to reinstate the trial system. The interim parliamentary committee will also discuss its report on preserving state property.
The first reading of the draft law to cancel the ratification of the agreement exempting holders of diplomatic and service passports from entry visas between the governments of Iraq and Cyprus will also be presented during the session, in addition to the first reading of the proposed law to amend the second law of the Mukhtars, and the report and discussion of the proposed fourth amendment to the law of medical and health professionals.
Earlier, a parliamentary source reported that the parliament presidency decided to suspend the sessions and resume them next Saturday.
The source told Shafaq News Agency that the Council Presidency informed the representatives that there would be no session this week, and that the session would be held on Saturday evening after breakfast.
For his part, member of the Parliamentary Legal Committee, Mohammed Anouz, revealed to Shafaq News Agency that Parliament sessions during the month of Ramadan will be in the evening after breakfast, to ensure the continuation of legislative work before the end of the current session.
It is noteworthy that the current session of the Iraqi Council of Representatives began on January 9, 2022, and is scheduled to last for four years, ending on January 8, 2026.
No: Voting on the draft law amending the fourth amendment to the Industrial Investment Law for the private and mixed sectors No. (20) of 1998. (Economy, Industry and Trade Committee, Investment and Development Committee), (9) articles).
Anya: Voting on a decision to recommend to the Ministry of Education to reinstate the trial system.
Third: Report of the interim parliamentary committee to follow up on the preservation of state property.
Fourth: The first reading of the draft law to cancel the law ratifying the agreement exempting holders of diplomatic and service passports from entry visas between the Government of the Republic of Iraq and the Government of the Republic of Cyprus No. 26 of 2023. Foreign Relations Committee, (2) Articles.
Parliament
Fifth: The first reading of the proposed law amending the second law of the Mukhtars Law No. 13 of 2011. The Committee of Regions and Governorates Not Organized in a Region, the Security and Defense Committee, the Finance Committee, the Legal Committee, (8) articles. Rajuma Ni Nowina
Sixth: Report and discussion of the second reading of the proposed law amending the fourth amendment to the Law on the Progression of Medical and Health Professionals No. (1) of 2000. (Health and Environment Committee), (13) articles.
The session begins at one o'clock in the afternoon link
Mot: . Soooooo true!!!
Mot: . Yet another ""Awareness Tip"" frum ole ""Mot""
MilitiaMan & Crew-Iraq Dinar News-Ready for Revaluation-Digital Currency-Oil-Salaries-All on the table-Reasoning
MilitiaMan & Crew-Iraq Dinar News-Ready for Revaluation-Digital Currency-Oil-Salaries-All on the table-Reasoning
3-5-2025
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
MilitiaMan & Crew-Iraq Dinar News-Ready for Revaluation-Digital Currency-Oil-Salaries-All on the table-Reasoning
3-5-2025
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Economist’s “News and Views” Wednesday 3-5-2025
Jim Willie: Trump's Plans With Ripple (XRP) & Precious Metals Backing
Arcadia Economics: 3-5-2025
With the Trump administration recently releasing the list of the 5 cryptos that it expects to hold in a strategic reserve, there's a lot of attention on Ripple (XRP), which Dr. Jim Willie thinks is headed for a precious metals backing.
And to hear his latest thoughts on what the Trump team is planing, gold, silver, and more, click to watch part 2 of this interview with Jim!
Jim Willie: Trump's Plans With Ripple (XRP) & Precious Metals Backing
Arcadia Economics: 3-5-2025
With the Trump administration recently releasing the list of the 5 cryptos that it expects to hold in a strategic reserve, there's a lot of attention on Ripple (XRP), which Dr. Jim Willie thinks is headed for a precious metals backing.
And to hear his latest thoughts on what the Trump team is planing, gold, silver, and more, click to watch part 2 of this interview with Jim!
Atlanta Fed Now Predicting US Recession...Is It Time To Panic?
George Gammon: 3-6-2025
GOLD to $3,600? Liquidity Crisis Sparks Big Move! | Michael Howell
Soar Financially: 3-5-2025
The “King of Liquidity” Michael Howell, founder and president of CrossBorder Capital, joins us for an in-depth discussion on global liquidity flows.
Michael breaks down the hidden dynamics behind secret liquidity injections, unconventional Fed stimulus measures, and China’s struggle to maintain the yuan’s parity.
He explains why the U.S. dollar may soon lose its shine against gold and whether Trump’s iconoclastic ideas could signal a return to a loose gold standard.
00:00 – Intro
00:32 – Meet Michael Howell
01:40 – Global Economy Overview
02:31 – How Central Banks Affect Markets
03:59 – The Fed and Liquidity
05:40 – Effects of Liquidity Injections
07:19 – Fed’s Balance Sheet Explained
09:11 – Bank Reserves & Stress Tests
10:18 – Global Liquidity Cycle & 2025 Forecast
12:00 – Impact on Gold & Cryptocurrencies
13:58 – Bitcoin & Ethereum as Hedges
16:07 – Gold as an Inflation Hedge
18:01 – Drivers of Global Liquidity
21:29 – Market Volatility & Collateral
23:45 – US Treasury Yields Explained
26:45 – Rising Debt & Gold Prices
29:00 – China’s Impact on the Dollar
31:24 – Liquidity & Gold Price Forecast
32:00 – Global Debt & Refinancing Challenges
35:32 – Changes in Capital Markets
38:13 – Maturity Wall & Refinancing Risks
40:09 – Future Liquidity Crisis
42:21 – China’s Monetary Policy Impact
47:20 – Short-Term vs. Long-Term Liquidity
48:09 – Investor Tips: Gold, Bitcoin & Hedges
52:00 – Will the Fed Buy Bonds?
54:12 – Conclusion & Outro
Iraq Economic News and Points to Ponder Wednesday Afternoon 3-5-25
Evaluation Of The Central Bank's Journey In 22 Years
Samir Al-Nusairi
Since 2003, the Iraqi economy has suffered from financial and banking challenges and crises due to the difficult and complex subjective and objective circumstances that the country has gone through over the past 22 years.
Since the monetary policy of the Central Bank, according to its Law No. 56 issued in 2004, is responsible for achieving economic stability, overcoming the challenges of the financial and monetary system, and addressing the structural imbalance in the economy in the transition from a rentier economy to a real (productive) economy, as well as from a monetary economy to a digital economy.
During the above period, the Central Bank went through four important and basic stages:
Evaluation Of The Central Bank's Journey In 22 Years
Samir Al-Nusairi
Since 2003, the Iraqi economy has suffered from financial and banking challenges and crises due to the difficult and complex subjective and objective circumstances that the country has gone through over the past 22 years.
Since the monetary policy of the Central Bank, according to its Law No. 56 issued in 2004, is responsible for achieving economic stability, overcoming the challenges of the financial and monetary system, and addressing the structural imbalance in the economy in the transition from a rentier economy to a real (productive) economy, as well as from a monetary economy to a digital economy.
During the above period, the Central Bank went through four important and basic stages:
First - reducing rampant inflation in 2003, which exceeded 35%, controlling the stability of the exchange rate, building foreign reserves, and controlling the money supply.
Second - overcoming the economic and security shocks in 2014.
Third - addressing the financial crisis during the Corona pandemic in 2020.
Fourth - controlling the exchange rate, regulating foreign trade financing, achieving digital transformation, enhancing financial inclusion, and complying with international standards in 2023 and 2024
Considering that the Central Bank, in cooperation with the government, has accomplished important steps towards implementing the financial and banking reform methodology and moving towards completing its strategy to achieve the goals according to the roadmap drawn up in 2025,
it is necessary to evaluate and analyze the economic reality over the past 22 years with impartiality and high transparency and identify cases of failure and dysfunction in the productive economic sectors and procrastination in not implementing the economic reform programs that all successive governments have worked on but have not been able to achieve the goals of radical and comprehensive reform for the reasons above.
However, the reality of the situation and the reform efforts made in 2023 and 2024 have made us, as specialists, look with hope and optimism at what has been achieved and what is planned to be achieved in the next two years based on what is stated in the third strategy of the Central Bank with its main and sub-goals.
The banking reform steps taken by the Central Bank from 2003 to 2024 addressed the effects of the economic and security shocks in 2014, most notably the 75% drop in global oil prices and the government’s inability to pay employees’ salaries on time.
The Central Bank was able to use its foreign exchange reserves and the method of rediscounting treasury transfers to support the government in the amount of 16 trillion dinars, and the crisis was overcome at the time.
In 2015, the Central Bank, in light of these difficult economic conditions, began to move to develop its plans for the coming years and draw up a methodology for banking reform and structural, technical and administrative development of the Central Bank.
This resulted in the issuance of its first strategy for the years (2016-2020),
which included 5 main objectives and 140 sub-objectives, 129 of which were achieved, at a rate of 92%, during the years of implementing the strategy.
It contributed to establishing the basic structures and pillars for moving to a new stage of financial and banking reform, accompanied by the strategic banking projects plan for the years (2019-2023) and the issuance of the second strategy (2021-2023) to complete the achievement of the sub-objectives that could not be implemented in the first strategy, which numbered (11) sub-objectives, during which the government continued to seek help from the Central Bank and obtain (30) trillion dinars, and the total amount owed by the government became (46) trillion dinars.
In 2023, the Central Bank worked on studying the achievements of the two previous strategies and diagnosing the foundations of the desired reform.
The efforts to prepare for the third strategy continued throughout 2023, and the foundations and foundations were built to set the goals for this new strategy for the years (2024-2026), which derived its main and sub-goals from the state's general economic policies and its strategy for financial and banking reform adopted by the government in the government program and from Central Bank Law 56 of 2004.
It included programs with clear goals and initiatives for a period of three years in a special, complex economic and financial circumstance fraught with risks and challenges at the level of internal and external economic and financial relations.
The third strategy identified the main goals with 7 goals, 24 sub-goals and 75 initiatives to achieve
the main and sub-goals and charted the path for banking and financial reform according to the following strategic goals:
1- Supporting and enhancing monetary stability.
2- Enhancing digital transformation, activating electronic payment and supporting cybersecurity.
3- Enhancing financial inclusion
4- Maintaining a sound financial system
5- Developing the organizational structure and human resource capabilities
6- Enhancing the position of the Central Bank locally and internationally
7- Enhancing compliance of the banking sector and the non-banking sector in line with international standards.
Programs, policies and initiatives have been identified to achieve the goals. Perhaps the most prominent program is the launch of the National Strategy for Bank Lending in Iraq (2024-2029) and the approval of the Council of Ministers to implement it, which will restructure banking financing in Iraq,
in addition to leaving the electronic platform and adopting correspondent banks in foreign transfers,
protecting the financial system,
enhancing financial inclusion,
managing monetary and financial stability,
developing oversight and supervision,
developing regulation in the banking sector,
completing the development of the infrastructure for digital transformation,
licensing digital banks,
implementing regulatory policies in the Central Bank in accordance with the frameworks and technologies adopted in global central banks,
raising the capabilities of human resources,
developing banking operations, strengthening the bank's internal and external relations,
and representing it locally and internationally.
What has been presented accurately and transparently for the 22 years of the financial and banking reform process confirms that the next two years will inevitably result in the transition to a comprehensive and radical reform of the Iraqi banking sector and transforming it into a solid sector that contributes to sustainable development. https://economy-news.net/content.php?id=53139
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/
Seeds of Wisdom RV and Economic Updates Wednesday Evening 3-05-25
Good Evening Dinar Recaps,
EXCLUSIVE: GOP LAWMAKERS UNVEIL BILL TO ‘END THE FED’
Republican Utah Sen. Mike Lee and Kentucky Rep. Thomas Massie will reintroduce legislation Wednesday afternoon to abolish the Federal Reserve.
The bill, titled the Federal Reserve Board Abolition Act, would dissolve the Board of Governors of the Federal Reserve System and each Federal Reserve bank with a one-year timeframe. The bill would also repeal the 1913-era legislation that created the central bank to oversee U.S. monetary policy, according to the bill text shared exclusively with the Daily Caller News Foundation.
Good Evening Dinar Recaps,
EXCLUSIVE: GOP LAWMAKERS UNVEIL BILL TO ‘END THE FED’
Republican Utah Sen. Mike Lee and Kentucky Rep. Thomas Massie will reintroduce legislation Wednesday afternoon to abolish the Federal Reserve.
The bill, titled the Federal Reserve Board Abolition Act, would dissolve the Board of Governors of the Federal Reserve System and each Federal Reserve bank with a one-year timeframe. The bill would also repeal the 1913-era legislation that created the central bank to oversee U.S. monetary policy, according to the bill text shared exclusively with the Daily Caller News Foundation.
The congressional Republicans’ reintroduction of legislation to abolish the central bank comes after President Donald Trump has floated exerting more authority over the Federal Reserve and its monetary policy decisions.
The president signed an executive order Feb. 18 to expand his authority over so-called independent agencies but notably exempted the Fed and its authority to set monetary policy and interest rates without presidential oversight.
“[P]revious administrations have allowed so-called ‘independent regulatory agencies’ to operate with minimal Presidential supervision,” Trump wrote in the executive order.
Lee and Massie have consistently advocated for ending the independence of the Federal Reserve, citing their belief that the central bank has mismanaged monetary policy and contributed to inflation. Elon Musk has notably backed their efforts.
Trump repeatedly clashed with Federal Reserve chair Jerome Powell during his first administration. The president criticized Powell for failing to “beat” inflation after the central bank chose not to cut interest rates on Jan. 29.
“The Federal Reserve has not only failed to achieve its mandate, it has become an economic manipulator, directly contributing to the financial instability many Americans face today,” Lee told the DCNF. “We need to protect our economic future, end the monetization of federal debt that fuels unchecked federal spending, and put American money on solid ground. We need to End the Fed.”
“Americans have suffered under crippling inflation, and the Federal Reserve is to blame,” Massie told the DCNF. “During COVID, the Federal Reserve created trillions of dollars out of thin air and loaned it to the Treasury Department to enable unprecedented deficit spending. By monetizing the debt, the Federal Reserve devalued the dollar and enabled free money policies that caused high inflation.”
“Monetizing debt is a closely coordinated effort between the Federal Reserve, Treasury Department, Congress, Big Banks and Wall Street,” Massie continued. “Through this process, retirees see their savings evaporate due to the actions of a central bank pursuing inflationary policies that benefit the wealthy and connected. If we really want to reduce inflation, the most effective policy is to end the Federal Reserve.”
Lee and Massie previously introduced the legislation during the 118th Congress in June 2024, but neither bill advanced in the House or Senate.
@ Newshounds News™
Source: The Daily Caller
Download: Link
~~~~~~~~~
BITCOIN TO BE TREATED DIFFERENTLY FROM ALTCOINS IN US CRYPTO RESERVE, SAYS HOWARD LUTNICK: REPORT
▪️A model for the US crypto reserve is set to be revealed at the inaugural White House Crypto Summit on Friday, according to The Pavlovic Today.
▪️The President is interested in a bitcoin strategic reserve, while other tokens will be treated positively but differently, Commerce Secretary Howard Lutnick told the outlet.
More details about the potential US crypto reserve are set to come out of the White House's inaugural Crypto Summit on Friday, according to independent political news outlet The Pavlovic Today.
"The President definitely thinks that there's a bitcoin strategic reserve," Commerce Secretary Howard Lutnick reportedly told the outlet. "Now there will be the question of, how do we handle the other cryptocurrencies? And I think the model is going to be announced on Friday when we do that."
Lutnick suggested to The Pavlovic Today that bitcoin would receive a "unique status" under Trump's plans.
"A bitcoin strategic reserve is something the President's interested in. He spoke about it all during the campaign trail, and I think you're going to see it executed on Friday,” Lutnick said. "So bitcoin is one thing, and then the other currencies, the other crypto tokens, I think, will be treated differently — positively, but differently," he added.
The White House Crypto Summit will be chaired by Trump's Crypto Czar David Sacks and Presidential Working Group on Crypto Executive Director Bo Hines.
Some of the Attendees:
Strategy co-founder Michael Saylor, Coinbase CEO Brian Armstrong, Kraken co-CEO Arjun Sethi and Chainlink co-founder Sergey Nazarov are expected to be among the crypto industry leaders in attendance.
President Trump announced on Sunday that, following his January executive order, he had directed a working group to "move forward" on a U.S. Crypto Strategic Reserve, including BTC, ETH, XRP, SOL and ADA — with those assets initially rising 10%, 15%, 25%, 30% and 70% from last week's lows, respectively.
Bitcoin subsequently dropped over 10%, and ether plunged more than 15% after Trump's announcement of new tariffs on imports from Canada, Mexico and China fueled risk-off sentiment — erasing the crypto reserve news gains on Monday.
Despite the recent announcements, questions remain over how any such reserve would be funded and how likely it is to be enacted — with Federal Reserve and Treasury Department options both likely to require new legislation to be passed by Congress.
@ Newshounds News™
Source: The Block
~~~~~~~~~
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