Seeds of Wisdom RV and Economic Updates Saturday Afternoon 11-23-24
Good Afternoon Dinar Recaps
BRICS: MORGAN STANLEY PREDICTS THE FUTURE OF THE US DOLLAR
BRICS is challenging the dominance of the US dollar by spreading the de-dollarization agenda across the globe. The bloc is pushing local currencies for trade and convincing other developing countries to sideline the US dollar. Using local currencies will strengthen their native economies and give them a boost in the forex markets. Amid the BRICS de-dollarization initiative, leading investment bank Morgan Stanley has predicted the future of the US dollar
Three sectors (see link below) in the US will be affected if BRICS ditches the dollar for trade. The move will make the US dollar lose out on the global supply and demand dynamics and push it into the path of decline. If the US fails to import the dollar, inflation could hit the homeland leading to higher prices for basic necessities.
BRICS: Morgan Stanley Reveals How the US Dollar Will Survive the Challenges
Analysts from the leading investment bank Morgan Stanley predict that the US dollar will remain the dominant currency for a longer period despite the challenges from BRICS. The bank’s analyst highlighted that in terms of financial instability, investors flock to the US dollar and not the Chinese yuan.
Historically, the USD has maintained stability during a market crisis while other local currencies plummeted. The USD can withstand the whips of the currency market as it is backed by global trade, said Morgan Stanley on the BRICS de-dollarization initiative.
“Which currency would you want to own when global stock markets start to fall? And the global economy tends to head into recession?” said James Lord, Morgan Stanley’s Head of Foreign Exchange Strategy. “You want to be positioning in US dollars because that has historically been the exchange rate reaction to those kinds of events.” In conclusion, Morgan Stanley predicts that the US dollar will reign supreme against the onslaught of the BRICS alliance.
@ Newshounds News™
Source: Watcher Guru
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COIN CENTER WARNS US POLICIES COULD SCARE AWAY CRYPTO INVESTORS DESPITE TRUMP WIN
Coin Center says that while a Trump administration will undoubtedly be positive for crypto, there are still several ongoing cases that could prove troublesome to investors and developers.
Non-profit crypto advocacy group Coin Center has warned that even though a Trump win is a net positive for the crypto industry, entrenched policies could still scare crypto innovators away from the United States.
In a Nov. 21 blog post analyzing the landscape of US crypto policy following the 2024 election, Coin Center’s research director Van Valkenburgh shared three “grave threats” to the crypto users and developers in the US heading into 2025.
All three threats are described broadly as “surveillance issues” and range from tax reporting and Anti-Money Laundering (AML) policy to the ongoing criminal proceedings involving the crypto mixer Tornado Cash and Bitcoin wallet service Samourai Wallet.
Three “grave” threats to crypto
The first major threat comes from the crypto reporting requirements under Section 6050I of the US tax code, which currently mandates warrantless reporting to the IRS for those who have received $10,000 in crypto.
In August last year, Coin Center argued that these reporting requirements are unconstitutional.
The second and third major threats stem from the sanctions placed on Tornado Cash and include the criminal charges for unlicensed money transmission brought against the mixing service and Samourai Wallet.
Coin Center says the charges brought against Tornado Cash founder Roman Storm could set a worrying precedent for developers on non-custodial crypto services.
“At the agency level, there’s reason to believe that controversial ongoing rulemakings will be frozen or even abandoned due to President Trump’s generally pro-crypto stance and his likely choices for appointees at the SEC and Treasury.”
However, Valkenburgh wrote that the new administration may not be interested in scaling back “overzealous” sanctions and AML policies.
“The [Department of Justice] may change under a Trump administration, but it rightly guards its political independence and may therefore be unlikely to abandon these prosecutions because of a change in administration," Valkenburgh said.
“We’re nonetheless hopeful that there can be progress here if it becomes increasingly clear that even with a friendlier SEC, draconian surveillance and control policies will continue to drive innovators away from the US, chill development, and deny ordinary Americans the benefits of these technologies.”
Valkenburgh added that the ongoing measures to prevent people from accessing crypto services do “very little to actually prevent criminals and terrorists” from using the tools.
@ Newshounds News™
Source: CoinTelegraph
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🌱YOUR MONEY YOUR MORTGAGE AND MORE. AUDIO ONLY | Youtube
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Source: Seeds of Wisdom Team RV Currency Facts
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HOW THE 2020 ELECTION SET UP A LEGAL NIGHTMARE FOR 2024 | Youtube
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Source: Seeds of Wisdom Team RV Currency Facts
Seeds of Wisdom Team RV Currency Facts Youtube and Rumble
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