Economy
The US is reportedly moving closer to stablecoin legislation with the bipartisan approval of the GENIUS Act by the Senate Banking Committee. This legislation aims to reinforce the US dollar’s dominance in digital transactions by setting guidelines for stablecoin issuers. Bo Hines, executive director of the President’s Council of Advisers on Digital Assets, emphasized the urgency of maintaining the dollar’s status as the global reserve currency. However, some experts warn that stablecoins could lead to increased financial surveillance, as they are subject to regulatory control and can be frozen by issuers or regulators. This debate highlights the tension between financial innovation and privacy concerns in the digital currency landscape. Senator Elizabeth Warren has expressed concerns over the potential for stablecoins to be used for illicit activities, advocating for stricter regulations to prevent money laundering and terrorist financing.
Meanwhile, the Bitcoin Act, also known as the Endgame Act, proposes to revalue gold and devalue the dollar, which could potentially trigger hyperinflation. By adjusting the Treasury’s gold valuation to market prices, the Act could significantly impact the financial landscape. This proposal aligns with the Austrian School of Economics’ theory that all prices are denominated in gold ounces, challenging the current fiat currency system. Critics argue that the focus on gold revaluation might distract from more pressing economic issues like digital currency regulation and financial stability.
Speaking of precious metals, the gold and silver markets may experience significant changes amid economic uncertainties. As short positions are bought back, there is an expectation of upward pressure on prices, with silver reaching all-time highs in some currencies. The activities of the Sprott Silver Fund and historical market manipulations are cited as factors contributing to the current market’s instability, suggesting a potential financial reset. Analysts from the Bank of Montreal predict that gold prices could exceed $4,000 an ounce, driven by liquidity injections and the end of quantitative tightening by the Federal Reserve.
Finally, in related news, Utah is reportedly on the verge of implementing a precious metals-backed electronic payment platform, following the passage of House Bill 306. This legislation, pending Governor Spencer Cox’s signature, would permit transactions in gold and silver, providing an alternative to fiat currency. The initiative, supported by figures such as former Federal Reserve Vice Chair Randall Corals, is intended to enhance economic security by offering state vendors the option to receive payments in precious metals. This development builds on Utah’s 2011 legislation recognizing gold and silver as legal tender, which could potentially alter financial transactions in the state. However, some economic analysts have raised concerns about the practicality of such a system, citing potential instability in gold prices and increased transaction costs due to IRS regulations.
Energy
The abiotic oil theory challenges the traditional fossil fuel narrative by suggesting that oil and gas are not derived from organic matter but are naturally produced in the Earth’s mantle. This theory, supported by figures such as Prof. Vladimir Kutcherov and Dr. Jerome Corsi, posits that hydrocarbons are abundant and self-replicating, independent of organic material. The theory has historical roots in Russian scientific research and has implications for the global energy landscape, questioning the scarcity of oil and gas and the motivations behind the fossil fuel narrative. While the abiotic oil theory finds support in niche publications and documentaries, mainstream media largely adheres to the fossil fuel theory, highlighting a divide in scientific and public discourse.
Health
In Texas, the death of a girl initially attributed to measles has been re-evaluated as a result of medical error. Dr. Pierre Kory and Dr. Ben Edwards reported that the hospital’s failure to administer the correct antibiotics led to her death from pneumonia, not measles. This case highlights the importance of accurate medical treatment and the need for open discussions about measles and vaccination, as emphasized by the girl’s family and community. The Texas Health Department, however, continues to emphasize the importance of measles vaccination to prevent outbreaks and reduce the risk of complications like pneumonia.
Geopolitics
China’s construction of new barges has led to speculation about a potential invasion of Taiwan. These vessels, reportedly resembling World War II Mulberry ports, are designed to support logistics operations after an initial landing. Analysts such as Hi Sutton and Tom Shugart suggest that these barges could facilitate rapid offloading of military equipment, bridging the gap between initial landings and port openings. This development underscores China’s strategic integration of civilian shipping in military operations, with potential implications for regional security. The Chinese Ministry of National Defense has posted about their commitment to national defense and regional stability, which could be interpreted as a response to concerns about military buildup.
Sources
Utah Pioneers Precious Metals Payment Platform: Gold and Silver Transactions Await Governor’s Nod
Utah will become the first state in the nation to pass a transactional gold bill.
Gold and Silver Set for Explosive Surge Amidst Looming Economic Crisis: A Precious Metals Investor’s Dream
When the squeeze comes, and it appears to be happening right now, this is going to be explosive.
The Abiotic Oil Theory: Challenging the Fossil Fuel Narrative
Oil is a self-replicating substance, it is the second most prevalent liquid on Earth, and no fossils were required to make it.
Source | Submitted by Trevor R
Texas Measles Death Misattributed: Medical Error, Not Virus, Blamed by Experts
She died of a medical error.
Source | Submitted by Robert Duggan
China’s New Barges: A Modern-Day Mulberry for Taiwan?
These are not designed to be amphibious assault vessels. You’re not going to storm up to, you know, Omaha Beach with these vessels.
Source | Submitted by Russdee
The Bitcoin Act: A Golden Gamble or Dollar’s Demise?
Gold is going up every day. We’re all running out of time.
Source | Submitted by Redneck Engineer
US Stablecoin Legislation Nears as Bipartisan Support Grows: A Bid to Cement Dollar Dominance
Stablecoin legislation is ‘imminent’ following the Senate Banking Committee’s approval of the GENIUS Act last week.
The Stablecoin Illusion: America’s Unseen Digital Currency Control
The greatest sleight of hand in modern finance isn’t cryptocurrency or complex derivatives—it’s convincing Americans they don’t already live under a Central Bank Digital Currency system.
In addition to sources submitted by community members, the following were also used in the creation of this report: The Salt Lake Tribune, Economic Watch blog, Bank of Montreal, The Wall Street Journal, The Financial Times, Texas Health Department, Hi Sutton, Covert Shores, Chinese Ministry of National Defense, and Senator Elizabeth Warren’s X post.
by bonnieb2a1 
