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Seeds of Wisdom
BRAZIL REJECTS BRICS CURRENCY BUT PLANS TO REDUCE US DOLLAR DEPENDENCY
Brazil is all set to chair the 17th BRICS summit in Rio de Janeiro in July this year. The presidency will not advance a BRICS currency but plans to reduce dependency on the US dollar, said four Brazil government officials on the condition of anonymity.
The agenda of the upcoming summit aims to pave the way to end reliance on the US dollar.
The next BRICS summit will discuss the advancement of cross-border payments and cement policies that prefer local currency usage. The move will bring inflation in the US making daily essentials skyrocket and could also lead to job cuts.
Brazil Will Not Work on BRICS Currency But Aim to End Reliance on US Dollar
The Brazilian officials revealed that the idea of a common BRICS currency has not entered technical discussions yet, though Brazil’s President Luiz Inacio Lula da Silva was among the first leaders to flout the idea.
The government officials told Reuters that the next summit will see trade policies solely focused on local currencies.
However, the officials said that reducing reliance on the US dollar does not mean the alliance targets the West. “It’s not directed against anyone,” said the source.
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The bloc is also eyeing multilateral bodies like the Bank for International Settlements (BIS) for cross-border transactions. Therefore, BRICS currency might not be a reality now but de-dollarization will be kept alive in different forms.
Sources state that BRICS does not want to launch a currency due to Trump’s erratic behavior. The President warned that if the alliance stops using the US dollar, it will face tariffs on goods entering the country. “There is no chance that BRICS will replace the US Dollar in International Trade, or anywhere else, and any Country that tries should say hello to Tariffs, and goodbye to America!” Trump wrote on Truth Social.
@ Newshounds News™
Source: Watcher Guru
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US IRS PREPARES TO LAY OFF THOUSANDS OF WORKERS, SOURCES SAY
Feb 14 (Reuters) – The U.S. Internal Revenue Service is preparing to fire thousands of workers in the coming days, a move that could squeeze resources at the tax-collecting agency during the critical tax-filing season, two people familiar with the matter said.
Officials from the Office of Personnel Management, which oversees federal hiring, ordered all agencies on Thursday to dismiss their probationary employees, workers who are newer to their positions and do not enjoy full job protections.
The IRS remains busy for months after the deadline, processing returns and delivering refunds to taxpayers.
The IRS layoffs, first reported by the New York Times, come as part of a broader effort by President Donald Trump and Elon Musk’s overhaul of the federal government, which they argue is too bloated and inefficient, and ripe with waste and fraud.
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The IRS did not immediately respond to a request for comment.
The second person familiar with the impending layoffs expressed concerns that the cuts would be made without care to how it might hinder the agency’s operations.
“They are trying to reduce numbers across the board with no analysis to the impact it will have on operations,” the person said.
@ Newshounds News™
Source: Reuters
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GEORGIA PLANS BITCOIN INVESTMENTS FOR STATE TREASURY FUNDS
▪️ Georgia proposes a bill allowing the state treasurer to invest in Bitcoin to diversify public funds.
▪️ The bill aims to use Bitcoin as a hedge against inflation, with strict regulations for risk management.
Georgia has introduced a bill that would authorize the state treasurer to invest public funds in Bitcoin. Many parties were quickly drawn to this action as, up to now, Bitcoin has been more recognized as a speculative asset than a state investment tool.
Once regarded as ‘digital gold’ for young techies, Bitcoin is beginning to find its way into government coffers. This measure intends to diversify Georgia’s financial reserves by including some money into the digital asset. Legislators, on the other hand, view Bitcoin’s usefulness as a hedge against the inflationary upheaval still afflicting the world economy.
@ Newshounds News™
Read more: Crypto News Flash
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ISRAEL ANNOUNCES NAMES OF THREE HOSTAGES SET FOR SATURDAY RELEASE FROM GAZA
CNN — Israel has announced the names of the three hostages set to be released Saturday, in what would be the sixth exchange of hostages and Palestinian prisoners under the Gaza ceasefire deal that came into effect last month.
Israel said Friday that Palestinian militants will release American-Israeli Sagui Dekel-Chen, Russian-Israeli Alexandre Troufanov and Argentinian-Israeli Iair Horn.
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A release of 369 Palestinian prisoners by Israel is expected to follow, Hamas’ Prisoner Media Office said.
Newshounds News™
Source: CNN
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Source: Dinar Recaps
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AI DEVELOPMENT WILL LEAD TO WIDER STABLECOIN ADOPTION
As crypto continues to make headlines at the individual state level as well as the federal level, the race between crypto and AI for most mentions in financial media continues to volley back and forth depending on the week in question.
Recently the spat between Elon Musk and Sam Altman made additional headlines as the two tech titans feuded publicly regarding the future of OpenAI, headlines connected to the potential investment into OpenAI by Softbank, as well as the idea of a purchase (to be led by Musk) of OpenAI for approximately $100 billion.
Crypto has also generated significant headlines in recent days, as Federal Reserve Chairman Jerome Powell (seemingly) backtracked on previous statements and actions related to crypto banking opportunities in testimony to Congressional leaders.
At the same time, even more states have begun the process of introducing legislation to allow direct investment into bitcoin and other digital assets, with Wyoming continuing to forge ahead with efforts to issue a dollar-backed stable token maintaining positive momentum.
Even as bitcoin and the concept of a digital asset stockpile move forward, stablecoins are also accelerating in terms of market capitalization, usage, and the education of policymakers and potential users alike.
In the midst of these market headlines, it would be easy to overlook a simple yet powerful truth about the future of AI, crypto, and how these industries will continue to evolve and influence each other over time. Let’s take a look at how (and why) stablecoins will play a critical role in the further development and integration of AI across businesses in the near to medium term.
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Stablecoins Will Power Payments
As the adoption and understanding of the benefits of tokenized payments become better understood the appetite and investment into stablecoin payments has continued to increase.
Privately issued stablecoins, by non-bank entities, are worth in excess of $200 billion dollars with the volume of transactions continuing to increase.
TradFi institutions across the globe have developed and implemented blockchain-based solutions and token-based solutions for internal clients, with PayPal, Visa, and Mastercard embracing similar trends; PayPal has even issued a native stablecoin to facilitate stablecoin transactions even further.
Bitcoin and other more volatile cryptoassets, including the much-maligned memecoin space, generate headlines, but stablecoins reflect the best of both worlds for crypto transactions.
The speed and efficiency of tokenized transactions, when coupled with the stability of stablecoins or stable tokens, present a business case that is difficult to argue against.
Reinforced by the prioritization of dollar-backed stablecoins in the recent executive order issued by the White House and the landscape looks primed for a dynamic year for stablecoin adoption.
@ Newshounds News™
Source: Forbes
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BRICS STATEMENT PUSHES DE-DOLLARIZATION, DESPITE TRUMP WARNING
As geopolitical tensions rise, both the West and the global South have shown no desire to relent in their positions. Indeed, a recent BRICS statement regarding the 2025 summit has pushed further de-dollarization despite US President Donald Trump’s most recent tariff warning.
This week, Trump once again reiterated his strong message to the economic alliance. Specifically, he noted that any effort to continue trading outside of the US dollar would result in 100% tariffs on the alliance. Despite this, the BRICS 2025 chairmanship holder, Brazil, has continued to discuss the need for economic reform on a global scale.
BRICS Remain Committed to De-Dollarization as Trump’s Threats Persist
The geopolitical arena is observing a standoff that could result in an eventual trade war.
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Throughout last year, Donald Trump has championed the importance of the US dollar’s status as the world’s currency. Specifically, he noted that if the greenback was no longer a global reserve asset, it would be akin to the nation losing a war.
That led him to combat the growing BRICS alliance. Specifically, he went after the group for discussions they’d had in creating an alternate trade currency for the collective.
He warned of increased import taxes that would threaten their potential to benefit the economy from the US if they did not announce they were ceasing the project.
The group would deny the single currency plan but not its efforts to diversify trade settlement currencies. Now, the two have come to a head, as a recent BRICS statement signals further de-dollarization despite Trump’s most recent tariff threats.
Brazil has been elected as the current alliance president in their rotating leadership model. Let one not forget it was Brazil and President De Lula who first championed the idea of ditching the US dollar two years ago. Conversely, in a statement on the 2025 BRICS summit, they included economic and financial reform, according to a Yahoo report.
Specifically, they are seeking reformation of the International Monetary Fund (IMF). More specifically, it is looking to bolster the BRICS New Development Bank (NDB). Known as the BRICS Bank, it has pioneered initiatives to further the use of local currencies in trade.
“US President Donald Trump has voiced anger at the proposal,” the report said. Moreover, it further creates the belief that those tariffs may well be implemented—a move that could have massive implications.
@ Newshounds News™
Source: Watcher Guru
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CARDANO FOUNDER REVEALS HOW META, GOOGLE, & APPLE CAN REPLACE L1 NETWORKS
Cardano founder Charles Hoskinson has revealed how tech companies Meta, Google, Amazon, Microsoft and Apple could replace Layer-1 networks.
▪️ Cardano founder Charles Hoskinson explained that these tech companies could replace layer-1 networks if the stablecoin bill passes.
▪️ He noted that these companies are in a good position to overtake these blockchain networks since they already have more users.
▪️ He predicts that these companies could go as far as creating their own layer-1 networks.
Cardano founder Charles Hoskinson has explained how the top tech companies Meta, Google, Apple, Microsoft, and Amazon could replace Layer-1 networks. According to him, these companies could easily establish their blockchain infrastructure once they achieve regulatory clarity.
@ Newshounds News™
Read more: CoinGape
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Source: Dinar Recaps
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