Trump's Leaked NATO Texts PROVE Iran Right
To see the rest of my discussion with Arturo Desimone, please join us on Patreon at – / patreon-arturo-134219033
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Qatar Tribune
11 hours ago
- Qatar Tribune
Trump signs stablecoin regulations into law, a major crypto milestone
Agencies US President Donald Trump on Friday signed a law to create a regulatory regime for dollar-pegged cryptocurrencies known as stablecoins, a milestone that could pave the way for the digital assets to become an everyday way to make payments and move money. The bill, dubbed the GENIUS Act, passed in the House of Representatives by a vote of 308 to 122, with support from nearly half the Democratic members and most Republicans. It had earlier been approved by the Senate. The law is a huge win for crypto supporters, who have long lobbied for such a regulatory framework in a bid to gain greater legitimacy for an industry that began in 2009 as a digital Wild West famed for its innovation and speculative chaos. 'This signing is a massive validation of your hard work and pioneering spirit,' said Trump at a signing event that included dozens of government officials, crypto executives and lawmakers. 'It's good for the dollar and it's good for the country.' Treasury Secretary Scott Bessent, in a statement, said the new technology would buttress the dollar's status as the global reserve currency, expand access to the dollar economy and boost demand for US Treasuries, which back stablecoins. Stablecoins are designed to maintain a constant value, usually a 1:1 US dollar peg, and their use has exploded, notably by crypto traders moving funds between tokens. The industry hopes they will enter mainstream use for sending and receiving payments instantly. The new law requires stablecoins to be backed by liquid assets - such as US dollars and short-term Treasury bills - and for issuers to disclose publicly the composition of their reserves monthly. Crypto companies and executives argue such legislation will enhance stablecoins' credibility and make banks, retailers and consumers more willing to use them to transfer funds instantly. The stablecoin market, which crypto data provider CoinGecko said is valued at more than $260 billion, could grow to $2 trillion by 2028 under the new law, Standard Chartered bank estimated earlier this year. The law's passage culminates a long lobbying effort by the industry, which donated more than $245 million in last year's elections to aid pro-crypto candidates including Trump, according to Federal Election Commission data. The Republican president, who has launched his own coin, thanked executives for their support during the 2024 presidential campaign, saying, 'I pledged that we would bring back American liberty and leadership and make the United States the crypto capital of the world, and that's what we've done.' Democrats and critics have said the law should have blocked big tech companies from issuing their own stablecoins, which could increase the clout of an already powerful sector, contained stronger anti-money laundering protections and prohibited foreign stablecoin issuers. 'By failing to close known loopholes and protect America's digital dollar infrastructure, Congress has risked making the US financial system a global haven for criminals and adversarial regimes to exploit,' said Scott Greytak, deputy executive director of Transparency International US. Big US banks are internally debating an expansion into cryptocurrencies as regulators give stronger backing to digital assets, but banks' initial steps will focus on pilot programs, partnerships or limited crypto trading, Reuters reported in May. Several crypto firms including Circle and Ripple are seeking banking licenses, which would cut costs by bypassing intermediary banks. Backers of the bill have said it could potentially give rise to a new source of demand for short-term US government debt, because stablecoin issuers will have to purchase more of the debt to back their assets. Trump has sought to broadly overhaul US cryptocurrency policies, signing an executive order in March establishing a strategic bitcoin reserve. The president launched a meme coin called $TRUMP in January and partly owns crypto company World Liberty Financial.
Qatar Tribune
11 hours ago
- Qatar Tribune
Most Americans say GOP tax bill helps the rich: Poll
Agencies Republican lawmakers are touting their newly passed tax and spending bill as a victory for working Americans, but a new survey finds most Americans view it as a benefit primarily for the wealthy. About two-thirds of U.S. adults expect the new tax law will help the rich, according to the poll from The Associated Press-NORC Center for Public Affairs Research. Most - about 6 in 10 - think it will do more to hurt than help low-income people. About half say it will do more harm than good for middle-class people and people like them. Republicans have already begun airing advertisements framing the legislation as a tax cut for all Americans, highlighting new deductions on tips and overtime income. But Democrats have been making the case that the wealthiest Americans will benefit from the legislation, citing cuts to Medicaid and food assistance programs. The new poll indicates that Republicans still have persuading to do. The high price tag may also be turning off some Americans. Trump's approval rating on government spending has fallen since the spring, according to the new survey, and about 6 in 10 U.S. adults across the political spectrum think the government is spending 'too much.' Most people have heard at least something about the new law, according to the poll, which found that about two-thirds of U.S. adults have heard or read 'a lot' or 'some' about it. Those who know something about the legislation are more likely to believe it favors the wealthy, compared with people who have heard 'only a little' or 'nothing at all.' Anaiah Barrow, a 25-year-old single mom from North Carolina who doesn't identify with a political party, said she's concerned that the new law will hurt caregivers like her. Barrow -- who's juggling a job, taking care of two young children and pursuing a degree -- is concerned about losing access to day care and food stamps. 'It has a really big effect,' Barrow said of the recently passed legislation, which she has learned about on TikTok. 'It may not be as big now, but in the long run it's going to have that effect -- it's going to hit bad.' Even many Republicans agree that the wealthy are likely to benefit from the tax and spending law. About half say the law will do more to help the wealthy. A similar percentage say this about middle-class people, while about 4 in 10 Republicans think it will do more to help than hurt low-income people. Lori Nichols, a 51-year-old caregiver for her elderly mother in Illinois, said the legislation has 'very little for the older people and people that are on disability.' Although Nichols is a Republican, she said she didn't vote in the 2024 presidential election and voted for Democrat Joe Biden in 2020. 'As far as the tax part goes, it seems to me like (Trump's) just making the rich richer,' Nichols said. Despite the overall sense that wealthy people will be the primary beneficiaries, Democrats and independents are much likelier than Republicans to think the law could harm them personally. Nathan Hay, a shift service manager at an international dealership that repairs trucks, said he thinks lower-income people might see a 'slight increase' in taxes but still supports the bill. 'Personally, it's not helping me a ton,' Hay said, but he believes it will help small businesses, which have been a staple in his own life and his family's. About half of Republicans expect the legislation to do more to help 'people like you,' compared with about 2 in 10 independents and just 6% of Democrats. 'I'm not a tax accountant, but it sounds as if it would be more beneficial to (people) in the higher tax level,' said Republican Geraldine Putnam, 87, a Trump voter who lives in the rural south. 'It's not that I would want to take away the incentive to become more wealthy - that's the American dream,' Putnam said. But she also thinks she'll end up paying more in taxes. 'What he's doing I'm sure he thinks is correct,' she said of Trump. 'It's just the extreme method that he's using.' The law's hefty price tag may be factoring into some Americans' assessments of the law. The poll found they are less likely to approve of how Trump is handling government spending since the spring. Just 38% of Americans approve of how Donald Trump is handling government spending, compared with 46% in an AP-NORC poll conducted in March. Republicans are less likely to say the government is spending 'too much' than they were in March 2023, when Joe Biden was president, but about 6 in 10 still think the government is overspending. A similar share of Democrats say the same thing.
Welcome Qatar
a day ago
- Welcome Qatar
Trump's Leaked NATO Texts PROVE Iran Right
Arturo Desimone discusses NATO Chief Mark Rutte's fawning private texts to Trump praising bombing Iran, posted publicly by Trump to Truth Social. Arturo gets into Rutte's role as the EU's austerity enforcer, pushing through cuts to everything but the military and gutting social democracy in Europe. To see the rest of my discussion with Arturo Desimone, please join us on Patreon at – / patreon-arturo-134219033
