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Seeds of Wisdom RV and Economic Updates Tuesday Morning 8-20-24
Good Morning Dinar Recaps,
US federal agencies are planning to redefine 'money' to include crypto in reporting rules
Federal regulators aim to treat crypto and traditional currency equally for financial institution reporting.
Key Takeaways
▪️US agencies aim to treat cryptocurrencies as traditional money for reporting purposes.
▪️Final rulemaking on crypto as money expected by September 2025.
Several top US federal agencies are collaborating to revise the definition of “money” to strengthen reporting requirements for financial institutions handling domestic and cross-border cryptocurrency transactions.
Good Morning Dinar Recaps,
US federal agencies are planning to redefine 'money' to include crypto in reporting rules
Federal regulators aim to treat crypto and traditional currency equally for financial institution reporting.
Key Takeaways
▪️US agencies aim to treat cryptocurrencies as traditional money for reporting purposes.
▪️Final rulemaking on crypto as money expected by September 2025.
Several top US federal agencies are collaborating to revise the definition of “money” to strengthen reporting requirements for financial institutions handling domestic and cross-border cryptocurrency transactions.
The US Department of the Treasury’s semiannual regulatory agenda, released on August 16, reveals an upcoming federal effort to level the regulatory playing field for cryptocurrencies and traditional fiat currency.
The Board of Governors of the Federal Reserve System and the Financial Crimes Enforcement Network intend to revise the meaning of “money” used in the Bank Secrecy Act.
According to the agenda, the agencies aim to ensure that the rules apply to transactions involving convertible virtual currency, defined as a medium of exchange that either has an equivalent value as currency or acts as a substitute for currency, but lacks legal tender status.
The proposal will also extend reporting requirements to digital assets with legal tender status, including central bank digital currencies.
The final notice of proposed rulemaking is currently scheduled for September 2025, subject to clearance. This move comes as the US government recently shifted approximately 10,000 Bitcoin linked to a dated Silk Road raid on August 14.
In addition to crypto, the Department of Justice is actively amending regulations and legal mandates for artificial intelligence.
On August 7, the DOJ asked the United States Sentencing Commission to update its guidelines to provide additional penalties for crimes committed with the aid of AI.
These recommendations seek to expand beyond established guidelines and apply to any crime aided or abetted by simple algorithms.
In June, the US Supreme Court overturned the Chevron doctrine, significantly affecting the SEC’s regulatory authority over crypto policies.
In May, the US Treasury and IRS introduced new tax regulations for crypto brokers, requiring transaction reporting and record-keeping of token costs starting in 2026.
Earlier this month, Senators Wyden and Lummis criticized the DOJ’s treatment of crypto software services as equivalent to unlicensed money-transmitting businesses, highlighting potential conflicts with the First Amendment.
This regulatory push reflects the growing recognition of crypto and digital assets as significant components of the financial system. By aligning reporting requirements for crypto with those of traditional currency, regulators aim to enhance transparency and combat potential illicit activities in the crypto space.
@ Newshounds News™
Source: CryptoBriefing and Federal Register
~~~~~~~~~
IOTA News: Tangle Treasury Implements New Anti-Fraud Measures to Protect Grant Distribution
▪️ The Tangle Treasury has implemented significant improvements in data and financial security, introducing a new anti-money laundering (AML) and counter-terrorist financing (CTF) policy.
▪️ Nicole O’Brien will lead as the AML/CTF officer for IOTA’s Tangle Treasury, overseeing adherence to best practices, improving internal protocols, and training staff.
The IOTA and Shimmer communities received an important update from the Tangle Treasury regarding the enhanced backend improvements.
The latest advancements currently focus on boosting data and financial security while refining proposal reviews and grant management processes.
Thus, in an effort to mitigate risks associated with fund allocations, the Tangle Treasury unveiled a new counter-terrorist financing (CTF) and anti-money laundering (AML) policy.
The broader goal here is to safeguard the Treasury’s primary mission of issuing grants to other promising projects while minimizing the risk of the funds falling into the hands of scammers and other malicious players.
These improved screening features will further enhance the Treasury’s operational efficiency while protecting community investments. As we know, the Tangle Treasury has made significant strides in enhancing internal processes while ensuring community funds’ safety.
With its AML and CTF policy, Tangle DAO has also implemented additional protective measures such as conducting rigorous background checks and enhanced know-your-customer (KYC) procedures for all the proponents as well as grant recipients such as proof-of-address, proof of identity, screening against sanction lists from major countries and blocs, as well as checks for politically exposed persons (PEP).
IOTA Tangle Treasury Appoints Nicole O’Brien
In order to oversee all these processes, IOTA’s Tangle Treasury has appointed Nicole O’Brien as its CTF/AML officer. In her role, O’Brien will ensure adherence to best practices, enhance internal protocols and provide training for staff members.
These advancements, along with improved data security, bookkeeping, and the introduction of standard operating procedures (SOPs) for finance administration and grant management, will help boost the Tangle Treasury’s efficiency and professionalism.
Further updates, including a call for new proposals, will likely come in the coming weeks.
The IOTA Tangle is an innovative form of Distributed Ledger Technology (DLT) specifically created for Web3 while using a unique structure based on directed acyclic graphs (DAG) instead of the conventional blockchain model, per the CNF report.
Recently, IOTA has put a major focus on enhancing trust and security, especially for its Identity wallets, per the CNF report.
Also, the European Identity Wallet seeks to transform the Identity verification process by allowing users to log into websites without passwords while securely sharing verified information with simplicity.
In collaboration with the European Commission, IOTA has introduced a new prototype solution using distributed ledger technology (DLT) in order to boost the management of the intellectual property rights marketplace while allowing users to utilize automated, transparent digital contracts, eliminating the need for traditional negotiations, reported CNF.
@ Newshounds News™
Source: Crypto News Flash
~~~~~~~~~
Cardano Founder Charles Hoskinson Launches $1 Million Bug Bounty Challenge Ahead of the Chang Hard Fork
▪️ Charles Hoskinson, Cardano’s co-founder, has announced a $1 million prize for hackers who successfully breach its newly introduced Lace Paper Wallet.
▪️ At the Rare Evo 2024 event, Hoskinson highlighted the upcoming Chang hard fork and the transition to the Voltaire Era.
Cardano’s (ADA) Charles Hoskinson has announced a $1 million bug bounty challenge to the ADA community pending the implementation of the long-awaited Chang Hard Fork.
Speaking at the recent Rare Evo 2024 event, Hoskinson announced that the newly introduced Lace Paper Wallet would be the object at the center of this challenge, with participants expected to breach its defense.
The Lace Paper Wallet Bug Bounty Program would run until the end of 2024, or someone successfully breaches its security and retrieves the Non-Fungible Tokens (NFT) inside.
The Web3 wallet was developed by Cardano’s (ADA) parent company, Input Output Global (IOG), with Paper Wallet integrated to beef up its security. According to reports, the added features would enable users possessing PGP keys to use a single encrypted QR code to restore their wallet.
This is, I think, the most secure paper wallet ever generated in the history of our industry.
In a video posted on X on August 17, Hoskinson expressed confidence in the wallet, boasting of its protection against attacks that encourage malicious actors to gain control of private keys to facilitate an authorized transaction.
Hoskinson Highlights Other Updates in the Cardano
At the Rare Evo 2024 event , Hoskinson highlighted the demonstration of the powerful scaling solution, Hydra, featuring the classic game “Doom”.
According to experts, this underscores its capabilities of handling high-throughput, real-time applications. Also, the expected Voltaire Era, which the Chang Hard Fork would introduce, was highlighted.
As we explained earlier, this upgrade would transfer governance controls to the community. According to Cardano’s Emurgo, the first phase was initiated in July 2024 with the next part expected in the fourth quarter of 2024 (Q4 2024).
The Chang Hard Fork is a technical component of the Voltaire era of the Cardano roadmap, which focuses on implementing a sustainable and distributed governance framework. With the first part set to be initiated in July 2024, the next part of the Hard Fork upgrade is set to happen by Q4 of this year.
The second phase would mark the full-force decentralized governance and an exit from the technical bootstrapping phase.
The Delegate Representatives (DReps) are also expected to be introduced as a governance body. In addition to the possibility of the SPOs voting on governance actions, a Constitutional Committee would be online to grow membership above the seven of the interim committee.
Finally, the community will take charge of the Treasury withdrawal.
Cardano users will be able to propose treasury debits via governance actions. The three bodies (Constitutional Committee, DReps, and SPOs) will vote on them, and if approved, ADA will be moved out of the treasury.
From that point forward, the future of the Cardano blockchain will be in the hands of its community, along with its power to draft and ratify the Cardano Constitution. This will mark a monumental step not only for the network but also for the blockchain industry as a whole, as Cardano will be the first truly distributed and community-run blockchain network.
At press time, ADA was trading at $0.33, having declined by 2% in the last 24 hours.
@ Newshounds News™
Source: Crypto News Flash
~~~~~~~~~
Newshound's Currency Facts Youtube and Rumble
Newshound's Podcast Link
Newshound's News Telegram Room Link
Q & A Classroom Link
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Seeds of Wisdom Team™ Website
Subscribe to Newsletter
Thank you Dinar Recaps
News, Rumors and Opinions Tuesday AM 8-20-2024
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 Tues. 20 Aug. 2024
Compiled Tues. 20 Aug. 2024 12:01 am EST by Judy Byington
Global Currency Reset: (Rumors/Opinions)
Mon. 19 Aug. 2024 Wolverine: “It is Tues. 20 Aug. here in Australia and it looks like it’s going to start today.”
Mon. 19 Aug. 2024 TNT: “On Fri. 16 Aug. they tested the system. On Sat. 17 Aug. because the system was live, they were paying “Front of the Line” people who wanted to be nameless. They said we should get paid out Sunday evening, or Monday morning, but here it is and we wait.
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 Tues. 20 Aug. 2024
Compiled Tues. 20 Aug. 2024 12:01 am EST by Judy Byington
Global Currency Reset: (Rumors/Opinions)
Mon. 19 Aug. 2024 Wolverine: “It is Tues. 20 Aug. here in Australia and it looks like it’s going to start today.”
Mon. 19 Aug. 2024 TNT: “On Fri. 16 Aug. they tested the system. On Sat. 17 Aug. because the system was live, they were paying “Front of the Line” people who wanted to be nameless. They said we should get paid out Sunday evening, or Monday morning, but here it is and we wait.
They are still expecting it today. They said it has been completed since Thursday. They hope to be done funding all Central Banks today before we go. People are being paid in the US already. It should be international sometime after two o clock into tomorrow morning Tues. 20 Aug.
I’m hearing people were exchanged at a live rate internationally. All the three letter agencies are saying it has been done since Thursday. They all agree it is a live rate. They say there are Wealth Managers calling clients to tell them they will be funded and liquid today.
For people in Canada there will not be 800 numbers. The Canadian Bank System is different than the US. In Canada the five major banks will do the exchange. Foreign exchange is the responsibility of the government, not the banks. The banks can restrict smaller branches, but the government is in charge. All five major banks in Canada will be exchanging. In Canada at the time of the RV, contact one of the five major banks to do your exchange.”
~~~~~~~~~~~~
Mon. 19 Aug. 2024: Unbelievable! Iran Teams Up with BRICS to Launch the Quantum Financial System! – Gazetteller
Global Financial Crisis:
Mon. 19 Aug. 2024 Central Bankers are Criminal Money Swindlers: the Biggest Fraud Using Counterfeit Money, Peter B. Meyer
Get to know the greatest criminal money swindlers on this planet and learn how it was possible. There is no greater fraud than that perpetrated by central bankers. The Federal Reserve and the ECB have ‘illegally’ acquired a monopoly on money creation and supply control. They can increase or decrease their balance sheet at any time at no cost by buying assets with fake money, which is mostly perpetual government debt.
They have quintupled the adjusted monetary base since 2008 while keeping interest rates close to zero. In other words, they are constantly manipulating the money supply and interest rates while bailing out banks and financing massive government deficit spending.
Money is half of almost every transaction. To manipulate money is to manipulate the whole economic system.
The basic unit of the system is a type of money the world has never had before: the post-1971 fiat dollar and later the euro. It’s paper money – worth whatever people think it’s worth, managed by people who think it should be worth less over time.
The amount of liquid reserves banks have to hold against their loans is now so small that it places “almost no constraint” on the amount of credit the system can and has created.
Banks only have to maintain a certain “capital adequacy ratio”. This limits their lending to a multiple of their equity, the money provided by their shareholders.
Of course, money is only valuable as long as there is not too much of it. The market can absorb a little counterfeit money. But there’s a limit. And that limit has been greatly increased, thanks to (1) A global overcapacity of production, financed by past credit. (2) A huge glut of cheap labor, also largely created by the credit expansion of the past 30 years. Without these two unique circumstances, the irresponsible policies of central banks – QE and ZIRP – would probably have pushed inflation into double digits or even higher.
There’s no need to worry about how much governments can borrow. Central banks buy government bonds – hold them on their balance sheets – return the interest payments – and the whole thing is forgotten. And when those bonds mature, central banks can use the repaid principal to buy more government debt!
In effect, today’s gaggle of Central Bankers are doing something that Central Bankers of the past could only dream of: printing money without causing inflation.
Politicians, too, are enjoying this unique opportunity for recklessness. They will be able to do what no one could do before: borrow money without paying it back.
The public has not yet read about this in the press, but it will soon. However, readers who have understood the money scam explained previously already know that there is no need for governments to repay their loans to central bankers, because the money they lent to governments didn’t come from taxpayers, it came from nowhere, like the rest of the world’s money.
There are two kinds of money in circulation: (1) Money derived from energy is wrongly called ‘fiat money.’ (2) Money derived from NOTHING, created by central banks is ‘debt money’.
~~~~~~~~~~~
MAGA General on Telegram: How About Restored Republic:
No Income Tax
No Tax on Wages
No Property Tax
No Inheritance Tax
No Sales Tax on Used Homes & Items
No Vehicle Registration Fee’s
No Licensing Fee’s
No Tax on Food and Pharmaceuticals
Dissolution of Federal Reserve Banks and IRS
How about returning the money stolen to Retiree’s from SSN
How about a 14-17% National Sales Tax on New Items Only
How about an increase in 61+ Retiree SSN Pmts up to $5,000.00 A MONTH
How about Restitution of Chattel Bonds to people abused by them
How about the Restoration of Common Law
How about the Restoration of the Titles of Nobility Amendment
The end to Admiralty-Civil-Equity Laws.
Read full post here: https://dinarchronicles.com/2024/08/20/restored-republic-via-a-gcr-update-as-of-august-20-2024/
************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man All the calls for Alaq to leave his post - They came at him all week last week. But guess what, he's still in his position...When they treated his incompetence it's obvious they have an agenda. They've been...trying to get him gone for over a year and haven't been able to. It's obvious the US, the US Fed and Al-Sudani feel it's not necessary or they would have probably done it already.
Walkingstick [Iraqi Bank friend Aki in Michigan] The monetary reform is very solid. Things are looking good...What happened with the CBI governor, he's not going anywhere. The government can't fire Alaq in the same way Maliki fired the governor of the CBI Dr. Shabibi. Maliki had no authority, he had no right to fire Dr. Shabibi. Dr. Shabibi went and worked with the US Treasury to make sure the monetary reform plan was completed...
************
Vietnam Currency Up in Value: Can Iraq Do the Same?
Edu Matrix: 8-20-2024
Vietnam Currency Up in Value: Can Iraq Do the Same Vietnam's GDP in the three months ending in June rose 4.14% from a year ago.
More News, Rumors and Opinions Monday PM 8-19-2024
KTFA:
Clare: Central Bank: Iraq is far from the "gray list"
8/19/2024 Baghdad
The Anti-Money Laundering and Terrorist Financing Office revealed that Iraq is far from being included in the gray list.
The representative of the office at the Central Bank, Hussein Al-Maqram, said, "After the completion of the international mutual evaluation by the international team of experts that Iraq recently underwent, which lasted 14 months, the technical commitment to the legal framework, regulations, instructions, and controls for combating money laundering and terrorist financing was evaluated."
KTFA:
Clare: Central Bank: Iraq is far from the "gray list"
8/19/2024 Baghdad
The Anti-Money Laundering and Terrorist Financing Office revealed that Iraq is far from being included in the gray list.
The representative of the office at the Central Bank, Hussein Al-Maqram, said, "After the completion of the international mutual evaluation by the international team of experts that Iraq recently underwent, which lasted 14 months, the technical commitment to the legal framework, regulations, instructions, and controls for combating money laundering and terrorist financing was evaluated."
He added, "The effectiveness of anti-money laundering and counter-terrorism financing systems was also evaluated, by providing statistics, in addition to practical cases, to prove the extent of implementation of the legislative framework, in addition to the field visit." LINK
************
Clare: Parliamentary Finance Committee prepares to question the Governor of the Central Bank of Iraq after the Arbaeen visit
8/19/2024
Member of the Parliamentary Finance Committee, Mustafa Al-Karawi, revealed on Monday that a request was submitted to the Presidency of the Council of Representatives to set a date to question the Governor of the Central Bank of Iraq regarding several files, most notably the exchange rate of the dollar against the local currency.
Al-Karawi told Shafaq News Agency, "Members of the Parliamentary Finance Committee had previously submitted a request to the Speaker of the House of Representatives to question the Governor of the Central Bank, Ali Al-Alaq."
He added, "The interrogation relates to several files, the most important of which are the dollar exchange rate, its sale to travelers, the currency buying and selling window, financial transfers abroad, cash financing, US sanctions, and negotiations with the US Federal Reserve."
He stressed, "We were previously seeking to host the Governor of the Central Bank, but then a request was submitted by some members of the House of Representatives to question the Governor in the House according to legal procedures and to activate the oversight role to question government officials."
Al-Karawi said, "After the Arbaeen visit, there will be a move to the Presidency of the House of Representatives to set a date to question the Governor of the Central Bank in Parliament."
On August 8, Hadi Al-Salami, a member of the Parliamentary Integrity Committee, revealed that his committee had been following up for more than a year on the file of terminating the assignment of the Central Bank Governor, Ali Al-Alaq, from his position.
Al-Salami explained to Shafaq News Agency that the committee addressed the Prime Minister several times to pressure him to end Al-Alaq's assignment, due to the existence of many violations against him.
He added that the government program announced by the Prime Minister when forming the government includes the necessity of ending the management of positions by proxy after six months of forming the government, noting that Al-Alaq is still managing the position by proxy without any action to cancel his assignment so far.
Al-Salami pointed out that there are many files and violations related to the Central Bank, which have been referred to the Integrity Commission and the Public Prosecution, indicating that these violations include issues related to the lack of control over the exchange rate in the market, in addition to millions of dollars and interest received by Arab and foreign banks, including Jordanian banks. LINK
************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man Article: "Government advisor explains the possibility of using the dinar instead of the dollar in oil sales" Saleh...is educating the people...They're keeping it fresh in the citizens minds as there's a likelihood there's going to be a big change coming. That will likely reflect the flexible exchange rate system.
MarkZ [via PDK] Comment: Many pundits are saying the 20th and 21st could be our big day. MarkZ: yes – a lot of the pundits say this…and I am getting the same from top bond contacts, group leaders –you name it. It certainly makes me feel a little excited…but going to stay grounded ...There are still great expectations from everyone...and I know some people who are heading to their locations on Monday for preparations…So I am hoping Tuesday actually means something.
************
US Companies Boost Iraq's Energy Sector… Forbes Released Article Today
Edu Matrix: 8-19-2024
US Companies Boost Iraq's Energy Sector Forbes Released Article Today 8/19/24 Forbes Article: https://www.forbes.com/sites/dipkabhambhani/2024/08/19/us-companies-government-to-boost-iraq-energy-sector-to-temper-iran/
LIVE! ECONOMY COMING APART FASTER... LOAD-UP ON COMMODITIES! STOCK MARKET GOING HIGHER.
Greg Mannarino: 8-19-2024
Seeds of Wisdom RV and Economic Updates Monday Afternoon 8-19-24
Good Afternoon Dinar Recaps,
US federal agencies are planning to redefine 'money' to include crypto in reporting rules
Federal regulators aim to treat crypto and traditional currency equally for financial institution reporting.
Key Takeaways
▪️US agencies aim to treat cryptocurrencies as traditional money for reporting purposes.
▪️Final rulemaking on crypto as money expected by September 2025.
Several top US federal agencies are collaborating to revise the definition of “money” to strengthen reporting requirements for financial institutions handling domestic and cross-border cryptocurrency transactions.
Good Afternoon Dinar Recaps,
US federal agencies are planning to redefine 'money' to include crypto in reporting rules
Federal regulators aim to treat crypto and traditional currency equally for financial institution reporting.
Key Takeaways
▪️US agencies aim to treat cryptocurrencies as traditional money for reporting purposes.
▪️Final rulemaking on crypto as money expected by September 2025.
Several top US federal agencies are collaborating to revise the definition of “money” to strengthen reporting requirements for financial institutions handling domestic and cross-border cryptocurrency transactions.
The US Department of the Treasury’s semiannual regulatory agenda, released on August 16, reveals an upcoming federal effort to level the regulatory playing field for cryptocurrencies and traditional fiat currency.
The Board of Governors of the Federal Reserve System and the Financial Crimes Enforcement Network intend to revise the meaning of “money” used in the Bank Secrecy Act.
According to the agenda, the agencies aim to ensure that the rules apply to transactions involving convertible virtual currency, defined as a medium of exchange that either has an equivalent value as currency or acts as a substitute for currency, but lacks legal tender status.
The proposal will also extend reporting requirements to digital assets with legal tender status, including central bank digital currencies.
The final notice of proposed rulemaking is currently scheduled for September 2025, subject to clearance. This move comes as the US government recently shifted approximately 10,000 Bitcoin linked to a dated Silk Road raid on August 14.
In addition to crypto, the Department of Justice is actively amending regulations and legal mandates for artificial intelligence.
On August 7, the DOJ asked the United States Sentencing Commission to update its guidelines to provide additional penalties for crimes committed with the aid of AI. These recommendations seek to expand beyond established guidelines and apply to any crime aided or abetted by simple algorithms.
In June, the US Supreme Court overturned the Chevron doctrine, significantly affecting the SEC’s regulatory authority over crypto policies.
In May, the US Treasury and IRS introduced new tax regulations for crypto brokers, requiring transaction reporting and record-keeping of token costs starting in 2026.
Earlier this month, Senators Wyden and Lummis criticized the DOJ’s treatment of crypto software services as equivalent to unlicensed money-transmitting businesses, highlighting potential conflicts with the First Amendment.
This regulatory push reflects the growing recognition of crypto and digital assets as significant components of the financial system. By aligning reporting requirements for crypto with those of traditional currency, regulators aim to enhance transparency and combat potential illicit activities in the crypto space.
@ Newshounds News™
Source: CryptoBriefing and Federal Register
~~~~~~~~~
IOTA News: Tangle Treasury Implements New Anti-Fraud Measures to Protect Grant Distribution
▪️ The Tangle Treasury has implemented significant improvements in data and financial security, introducing a new anti-money laundering (AML) and counter-terrorist financing (CTF) policy.
▪️ Nicole O’Brien will lead as the AML/CTF officer for IOTA’s Tangle Treasury, overseeing adherence to best practices, improving internal protocols, and training staff.
The IOTA and Shimmer communities received an important update from the Tangle Treasury regarding the enhanced backend improvements. The latest advancements currently focus on boosting data and financial security while refining proposal reviews and grant management processes.
Thus, in an effort to mitigate risks associated with fund allocations, the Tangle Treasury unveiled a new counter-terrorist financing (CTF) and anti-money laundering (AML) policy.
The broader goal here is to safeguard the Treasury’s primary mission of issuing grants to other promising projects while minimizing the risk of the funds falling into the hands of scammers and other malicious players.
These improved screening features will further enhance the Treasury’s operational efficiency while protecting community investments. As we know, the Tangle Treasury has made significant strides in enhancing internal processes while ensuring community funds’ safety.
With its AML and CTF policy, Tangle DAO has also implemented additional protective measures such as conducting rigorous background checks and enhanced know-your-customer (KYC) procedures for all the proponents as well as grant recipients such as proof-of-address, proof of identity, screening against sanction lists from major countries and blocs, as well as checks for politically exposed persons (PEP).
IOTA Tangle Treasury Appoints Nicole O’Brien
In order to oversee all these processes, IOTA’s Tangle Treasury has appointed Nicole O’Brien as its CTF/AML officer. In her role, O’Brien will ensure adherence to best practices, enhance internal protocols and provide training for staff members.
These advancements, along with improved data security, bookkeeping, and the introduction of standard operating procedures (SOPs) for finance administration and grant management, will help boost the Tangle Treasury’s efficiency and professionalism. Further updates, including a call for new proposals, will likely come in the coming weeks.
The IOTA Tangle is an innovative form of Distributed Ledger Technology (DLT) specifically created for Web3 while using a unique structure based on directed acyclic graphs (DAG) instead of the conventional blockchain model, per the CNF report.
Recently, IOTA has put a major focus on enhancing trust and security, especially for its Identity wallets, per the CNF report.
Also, the European Identity Wallet seeks to transform the Identity verification process by allowing users to log into websites without passwords while securely sharing verified information with simplicity.
In collaboration with the European Commission, IOTA has introduced a new prototype solution using distributed ledger technology (DLT) in order to boost the management of the intellectual property rights marketplace while allowing users to utilize automated, transparent digital contracts, eliminating the need for traditional negotiations, reported CNF.
@ Newshounds News™
Source: Crypto News Flash
~~~~~~~~~
Cardano Founder Charles Hoskinson Launches $1 Million Bug Bounty Challenge Ahead of the Chang Hard Fork
▪️ Charles Hoskinson, Cardano’s co-founder, has announced a $1 million prize for hackers who successfully breach its newly introduced Lace Paper Wallet.
▪️ At the Rare Evo 2024 event, Hoskinson highlighted the upcoming Chang hard fork and the transition to the Voltaire Era.
Cardano’s (ADA) Charles Hoskinson has announced a $1 million bug bounty challenge to the ADA community pending the implementation of the long-awaited Chang Hard Fork.
Speaking at the recent Rare Evo 2024 event, Hoskinson announced that the newly introduced Lace Paper Wallet would be the object at the center of this challenge, with participants expected to breach its defense.
The Lace Paper Wallet Bug Bounty Program would run until the end of 2024, or someone successfully breaches its security and retrieves the Non-Fungible Tokens (NFT) inside.
The Web3 wallet was developed by Cardano’s (ADA) parent company, Input Output Global (IOG), with Paper Wallet integrated to beef up its security. According to reports, the added features would enable users possessing PGP keys to use a single encrypted QR code to restore their wallet.
This is, I think, the most secure paper wallet ever generated in the history of our industry.
In a video posted on X on August 17, Hoskinson expressed confidence in the wallet, boasting of its protection against attacks that encourage malicious actors to gain control of private keys to facilitate an authorized transaction.
Hoskinson Highlights Other Updates in the Cardano
At the Rare Evo 2024 event , Hoskinson highlighted the demonstration of the powerful scaling solution, Hydra, featuring the classic game “Doom”.
According to experts, this underscores its capabilities of handling high-throughput, real-time applications. Also, the expected Voltaire Era, which the Chang Hard Fork would introduce, was highlighted.
As we explained earlier, this upgrade would transfer governance controls to the community. According to Cardano’s Emurgo, the first phase was initiated in July 2024 with the next part expected in the fourth quarter of 2024 (Q4 2024).
The Chang Hard Fork is a technical component of the Voltaire era of the Cardano roadmap, which focuses on implementing a sustainable and distributed governance framework. With the first part set to be initiated in July 2024, the next part of the Hard Fork upgrade is set to happen by Q4 of this year.
The second phase would mark the full-force decentralized governance and an exit from the technical bootstrapping phase. The Delegate Representatives (DReps) are also expected to be introduced as a governance body.
In addition to the possibility of the SPOs voting on governance actions, a Constitutional Committee would be online to grow membership above the seven of the interim committee.
Finally, the community will take charge of the Treasury withdrawal.
Cardano users will be able to propose treasury debits via governance actions. The three bodies (Constitutional Committee, DReps, and SPOs) will vote on them, and if approved, ADA will be moved out of the treasury.
From that point forward, the future of the Cardano blockchain will be in the hands of its community, along with its power to draft and ratify the Cardano Constitution.
This will mark a monumental step not only for the network but also for the blockchain industry as a whole, as Cardano will be the first truly distributed and community-run blockchain network.
At press time, ADA was trading at $0.33, having declined by 2% in the last 24 hours.
@ Newshounds News™
Source: Crypto News Flash
~~~~~~~~~
Newshound's Currency Facts Youtube and Rumble
Newshound's Podcast Link
Newshound's News Telegram Room Link
Q & A Classroom Link
Follow the Roadmap
Follow the Timeline
Seeds of Wisdom Team™ Website
Subscribe to Newsletter
Thank you Dinar Recaps
They’re Now Staging A Banking Collapse, Why Did Warren Buffett Sell $50B in Stocks??
They’re Now Staging A Banking Collapse, Why Did Warren Buffett Sell $50B in Stocks??
Atlantis Report: 8-18-2024
Recently, there has been a lot of talk in the financial world about big stock sell-offs by well-known investors, including Warren Buffett.
Often called the "Oracle of Omaha" because of his exceptional investing skills, Buffett's actions in the stock market are closely followed and considered as signs of wider economic trends.
They’re Now Staging A Banking Collapse, Why Did Warren Buffett Sell $50B in Stocks??
Atlantis Report: 8-18-2024
Recently, there has been a lot of talk in the financial world about big stock sell-offs by well-known investors, including Warren Buffett.
Often called the "Oracle of Omaha" because of his exceptional investing skills, Buffett's actions in the stock market are closely followed and considered as signs of wider economic trends.
The news that Buffett's company, Berkshire Hathaway, sold off over $50 billion in stocks has caused a lot of discussion in the investment community, leading to speculation about the reasons behind these decisions and what they might mean for the global economy.
In the last several months, Warren Buffett, the legendary investor and CEO of Berkshire Hathaway, has sold over $50 billion worth of stocks, including massive chunks of Bank of America and Apple shares. Warren Buffett's recent stock sales are significant not only because of the sheer volume but also because of the companies involved.
In May, Buffett sold $21 billion worth of Apple stock, and later, in December, he sold another $28.7 billion of other stocks. This follows a sale of $2.3 billion worth of Bank of America stock earlier in the year.
Combined, these sales surpass $50 billion, a staggering amount that has left many financial analysts and investors scratching their heads.
Buffett is not alone in his massive stock sell-off. Jamie Dimon, CEO of JP Morgan Chase, the largest bank in the world, sold $140 million worth of his own stock in the bank. This is notable as it is the first time in his 18-year tenure that he has sold such a significant portion of his holdings.
Other high-profile CEOs and founders, including Jeff Bezos, Elon Musk, Mark Zuckerberg, and members of the Walton family, have also been selling off large amounts of stock.
“Tidbits From TNT” Monday 8-19-2024
TNT:
Tishwash: Government Advisor: “Petro Dinar” Requires Good Stock of Foreign Currencies and Gold
The Prime Minister's advisor for financial affairs, Mazhar Muhammad Salih, explained today, Sunday, that "the adoption of the dinar in pricing oil, or what is called (petro dinar), requires, first of all, the availability of foreign reserve currencies or gold, as Russia did when it purchased Russian oil with gold-backed rubles, which caused problems that we will discuss later."
He added in press statements that "these foreign reserves must be available (as a necessary condition) and operate according to a high standard of efficiency that guarantees the stability of the exchange rate linked to oil (the petro dinar) in order to hedge against oil price fluctuations to ensure the stability of the exchange rate (the petro dinar) itself."
TNT:
Tishwash: Government Advisor: “Petro Dinar” Requires Good Stock of Foreign Currencies and Gold
The Prime Minister's advisor for financial affairs, Mazhar Muhammad Salih, explained today, Sunday, that "the adoption of the dinar in pricing oil, or what is called (petro dinar), requires, first of all, the availability of foreign reserve currencies or gold, as Russia did when it purchased Russian oil with gold-backed rubles, which caused problems that we will discuss later."
He added in press statements that "these foreign reserves must be available (as a necessary condition) and operate according to a high standard of efficiency that guarantees the stability of the exchange rate linked to oil (the petro dinar) in order to hedge against oil price fluctuations to ensure the stability of the exchange rate (the petro dinar) itself."
“Linking oil sales to the dinar on a fixed basis with oil prices instead of the foreign reserves base means linking the dinar to the oil asset cycle first, and that oil is sold according to global oil prices. If the exchange rate of the dinar (petrodinar) against the (petrodollar) is fixed, and oil prices fall, then the demand for the dinar for accounting purposes will certainly fall, and the dinar will be exchanged for oil in larger quantities and the demand for the (petrodinar) will be lower, and vice versa,” he added.
He pointed out that "any deviation between oil prices (petrodollar) and the exchange rate (petrodinar) according to international market data will be considered a cost that requires compensation by paying fewer dinars or collecting a higher dinar in the opposite case," indicating that "international reserve currencies are foreign currencies held by central banks and global financial institutions as part of their cash reserves. These currencies are used in international transactions and settling debts between countries, and are a standard for international payments and facilitating global trade." link
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Tishwash: Parliament falsifies the budget again.. Al-Mandlawi may lose his position!
MP Basem Khashan confirmed the possibility of terminating the membership of the acting Speaker of the House of Representatives, Mohsen Al-Mandalawi, if the charges of tampering with the budget tables that were recently revealed by the Prime Minister’s Office are proven, noting that the parliament committed legal violations in amending the budget tables and they were on their way to being published and implemented had it not been for the government’s scrutiny, indicating that many MPs were subjected to deception in this file.
The Council of Ministers had spoken of an increase of 15 trillion dinars in the last tables, and it was not included in the agreement, discussions and voting, requesting a re-audit.
Khashan said, in an interview with the media figure Ahmed Mulla Talal:
The budget tables sent by the Council of Ministers were changed and their allocations were manipulated in the House of Representatives in an illegal manner.
The forged schedules would have been published and implemented had it not been for the Cabinet's scrutiny.
Most of the budget schedules have been changed, and the process has been carried out by ignoring a large number of parliamentarians.
The legal violations committed by the House of Representatives in amending the budget tables are countless and are considered a major crime.
The funding for the ration card basket has been increased to 5 trillion dinars for contracts that include major problems.
Manipulation and alteration operations can be legally classified under the crimes of alteration with the intent to defraud, regardless of the size of the amounts and figures that were manipulated.
The acting Speaker of the House of Representatives is responsible for tampering with the budget tables sent to the Cabinet.
The Federal Court can terminate Mohsen Al-Mandalawi’s membership, if the charges of manipulation are proven. link
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Tishwash: Iraq: Qusay Shafiq reveals major financial scandals and demands investigation
Public money scandals continue in Iraq
Dr. Qusay Shafiq, a well-known activist on social media, sparked widespread controversy after revealing huge financial scandals related to the management of public funds in Iraq. He accused the government and parliament of manipulating the financial budget tables, wondering about the fate of tens of billions of dollars that were not spent transparently.
Shafiq referred in a tweet on the “X” website to what he described as the “theft of the century,” which the Integrity Commission estimated at $2.5 billion, equivalent to 4 trillion Iraqi dinars. However, he expressed his surprise at the large gap between this figure and the ongoing corruption in manipulating the budgets of recent years, as he revealed that the manipulation of the 2024 budget tables reached about $10 billion.
In a related context, Shafik touched on the Food Security Law, noting that about $20 billion has been allocated to it, but he wondered about the entities that monitored the disbursement of this money, stressing that the Ministry of Finance and the Central Bank have not received any of this money so far. He added, “$10 billion was spent on infrastructure projects, but where did the remaining $10 billion go?”
Shafik discussed the budgets of previous years, including the budgets of 2014, 2020, 2022, and 2023, noting that no funds were disbursed to the governorates from the 2023 budget. This raised questions about how the authorities deal with public funds, especially in light of the Central Bank’s report, which indicated that the cash reserve had not increased despite the significant rise in oil prices due to regional conflicts.
Qusay Shafiq concluded his statements by calling for a comprehensive investigation into previous financial deals, stressing that the people’s money is a trust that must be preserved. These statements come at a time when Iraq is witnessing increasing pressure from citizens and international observers, who are demanding greater transparency and accountability in the management of public funds.
Shafiq's statements are a strong call for regulatory bodies and government authorities to take urgent action to curb corruption and clarify the fate of the allocated funds, as the Iraqi people await answers on how their financial wealth is managed. link
*************
Tishwash: UrgentIn numbers.. The Central Bank buys dollars from the Ministry of Finance in an unprecedented move since 2003
An economic expert revealed an “unprecedented” figure for the value of the dollars purchased by the Central Bank of Iraq from the Ministry of Finance during the month of July.
The Central Bank of Iraq purchased $9.6 billion from the Ministry of Finance in July 2024, the highest value since the bank began purchasing dollars from the ministry in 2003," Manar Al-Obaidi said in a statement received by {Euphrates News}.
He added, "The purchases did not exceed this value during the past ten years except once in October of last year, at $10 billion."
Al-Obaidi explained, "Thus, the rate of dollar purchases from the Central Bank for the year 2024 has reached $5.9 billion per month, the highest over the past ten years, with an annual growth rate of 10%. The growth rate had previously risen in 2023 to 20%."
He attributed "this increase in purchases to the Ministry of Finance's need for local currency to cover its increasing expenses over the past years, especially with the increase in operating spending and raising the level of spending in the 2023, 2024 and 2025 budgets."
Al-Obaidi expected that "this rate will rise in the coming months with the Central Bank's inability to meet the need for Iraqi dinars, which may force it to increase the issued monetary mass to meet the ministry's expenditure needs." link
************
Mot: . Better safe than sorry
Mot: pickles loves cheese
News, Rumors and Opinions Monday AM 8-19-2024
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 Mon. 19 Aug. 2024
Compiled Mon. 19 Aug. 2024 12:01 am EST by Judy Byington
Global Currency Reset: (Rumors/Opinions)
Sat. 17 Aug. 2024 Wolverine: “It’s all coming through this next week. Exciting things have happened, but I’m not allowed to say what. People are expecting something Sun. night 18 Aug. Just to let you know guys is to get ready. I’m sorry that I can’t say anything as everyone is under total NDA now and soon I will be as well. That opera will be release any day now.
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 Mon. 19 Aug. 2024
Compiled Mon. 19 Aug. 2024 12:01 am EST by Judy Byington
Global Currency Reset: (Rumors/Opinions)
Sat. 17 Aug. 2024 Wolverine: “It’s all coming through this next week. Exciting things have happened, but I’m not allowed to say what. People are expecting something Sun. night 18 Aug. Just to let you know guys is to get ready. I’m sorry that I can’t say anything as everyone is under total NDA now and soon I will be as well. That opera will be release any day now.
Thank you for all the support you have all given me as this is one of the most hardest things that I have done in my life as it has control our way of life for years and played with our emotions. We have seen so many of our compatriots that did not make it and thankfully their family will cross the finish line for them. During this journey I never thought that I was going to be attacked viciously and even to this day the attacks are still continuing.
I know within my heart that I’m doing God’s work and that too many of you are suffering and you need hope and a messenger to know what is going on. As soon as I’m under NDA you won’t hear from me anymore but my job has been completed and I can leave with good conscience that I have done everything possible to help you.
The opera will be release once I receive the green light. Don’t forget the Get Together in February 2025 here in Sydney as we are planning to have the biggest party that Sydney has ever held with all these patriots coming from so many countries. Remember that it’s going to be a gala night and so wear your best clothes everyone. I’ll let you all know the day and the address of the Get Together. Love you all. Your friend Wolverine.”
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Sat. 17 Aug. 2024 Free and Easy Missouri on Telegram Fri. 16 Aug. 2024: On Fri. 16 Aug. we were told it would go between 12 noon and 12 midnight. It did go through so you know some people got paid yesterday. Banks were putting it in to make sure it would go. This morning Sat. 17 Aug. there are people getting paid. Certain people have privileges that you don’t have yet. Some will be elevated there by Mon. 19 Aug. Should have 800#s tonight after 5 pm. The system is live and it’s working. If not tonight, then we’ll start tomorrow morning.
Fri. 16 Aug. 2024 TNT Tony: “The system is live and working. People high up exchanged Thurs. 15 Aug. and Fri. 16 Aug. The system is working. We are hours maybe a day away. Iraq officially RV’d with a Rate of $3.19, Contract Rate $28.50 after Banks closed Sat. 17 Aug. Tier4b (us, the Internet Group) will be notified Mon. 19 Aug. with exchanges beginning Tues. 20 Aug.”
Fri. 16 Aug. 2024 MarkZ: Mark was hearing the process was underway. More bond contacts continuing to anticipate payments through the weekend. One large group in Reno is expectant but hasn’t started yet. Redemption Centers on standby. Mark suggested things could very well start this weekend but don’t be disappointed if it takes an extra day or two.
Thurs. 15 Aug. 2024 Bruce: “The USN will be on the Forex Sun. night 18 Aug. and will be seen on bank screens Mon. morning 19 Aug. Tier4b(us, the Internet Group) should get notified sometime by Tues. 20 Aug. 2024.Tier 4b exchange/redemption appointments should start by Wed. 21 2024.”
Thurs. 15 Aug. 2024 Farm Claims liquidity, Ginger’s Liberty Lounge: Reports regarding Farm Claims settlements being paid are accurate; and this is a very nice item which we can happily check off our “non negotiable list”. I was unable to share the exact details from my own confirmed contact, so I am sharing this other news passed along from someone else. 8.14.24. Lamb: “I just got off the phone with a friend of mine, she told me that her friend that had registered with the farm claim packages … He woke up to $500,000 in their bank account with no explanation, no nothing, he showed her the bank statement and knows this other person had “no pot to piss in” before (per se). So the statement about farm claims being paid is 100%.”
Fri. 16 Aug. 2024 RV Highlights: Nesara will be announced first. This way the PUBLIC (everyone) will receive financial relief from debts. The RV will also be released QUIETLY for T4b for us to revalue. Once 4b is done or nearly done, then the public will commence on their exchange. The purpose of the NDA is to keep T4b mouths shut (or their funds will be clawed back) regarding the amount of rates being paid out because the PUBLIC will NOT be receiving the same high rates. This is to keep the PUBLIC for being upset and causing backlash.
~~~~~~~~~~
Global Financial Crisis:
Sat. 17 Aug. 2024 Yesterday, 53 years ago, the United States temporarily suspended the dollar’s convertibility to gold. The world is still waiting. Today, we witnessed history. Interesting coincidence.https://x.com/goldtelegraph_/status/1824637729361006968?s=46
Sat. 17 Aug. 2024 Rite Aid Shuts Down All Stores in Two States, Leaving Tens of Thousands Scrambling for Essential Medications. Rite Aid has announced the closure of all its stores in Michigan and Ohio, following a staggering total of over 856 store closures since filing for Chapter 11 bankruptcy in October 2023. https://www.thegatewaypundit.com/2024/08/rite-aid-shuts-down-all-stores-two-states/
Sat. 17 Aug. 2024: Iranian banks hit by MAJOR CYBERATTACK after Supreme Leader Ayatollah Ali Khamenei promised retaliatory attack against Israel https://www.newstarget.com/2024-08-16-iranian-banks-hit-by-major-cyberattack.html
Read full post here: https://dinarchronicles.com/2024/08/19/restored-republic-via-a-gcr-update-as-of-august-19-2024/
************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Mnt Goat Article quote: “that the government is demanding guarantees for non – substituent currency back to the markets”. This means the reinstatement back to the FOREX trading markets. The CBI wants guarantees that once they begin the process of the Project to Delete the Zeros, it will go all the way to the reinstatement. So is this not what my CBI contact also told us?
Militia Man Just because you've been in it 20 years doesn't mean anything to me. I love you and I care about that. I respect it but if you're down and out all the time and you're saying, 'I've heard this before.' It's not true. Don't lie to yourself. All this data we're having right now is fresh. It's new. It's totally different than it was 20 years ago, 10 years ago, since Sudani got in office...Everything we're showing is in black and white. A lot of people out there have a darn good idea that change is coming...
*************
WARNING: Banks Are Preparing for an Imminent Banking Crisis as Property Foreclosures Soar
Lena Petrova: 8-18-2024
ANOTHER Recession Indicator Has Been TRIGGERED!
Lynette Zang: 8-17-2024
In today's video we are talking about the SAHM rule being triggered due to the recent rise in unemployment and what that means for you and your money...
Seeds of Wisdom RV and Economic Updates Monday Morning 8-19-24
Good Morning Dinar Recaps,
U.S. Government’s Crypto Holdings: Everything You Must Know
Arkham Intelligence shows that a wallet tied to the U.S. government is sitting on a hefty stash of cryptocurrency. A massive fortune can heavily influence the markets, and we have previously seen how the German Government’s Bitcoin sell-off affected the markets. Amid the political drama and crypto confusion, let’s find out how much the U.S. Government holds.
Good Morning Dinar Recaps,
U.S. Government’s Crypto Holdings: Everything You Must Know
Arkham Intelligence shows that a wallet tied to the U.S. government is sitting on a hefty stash of cryptocurrency. A massive fortune can heavily influence the markets, and we have previously seen how the German Government’s Bitcoin sell-off affected the markets. Amid the political drama and crypto confusion, let’s find out how much the U.S. Government holds.
When we say hefty, think 203,200 BTC, which clocks in at roughly $12 billion, along with 50,200 ETH, worth around $130 million. On top of that, the address holds 750.7 wBTC, valued at about $44.41 million, plus a variety of other tokens. Altogether, the total value of the assets is estimated to be around $12.4 billion.
Jackson Hole Symposium
@ Newshounds News™
Read More: https://telegra.ph/Jackson-Hole-Symposium-08-19
~~~~~~~~~
Mastercard to cut around 1000 jobs - Bloomberg
@ Newshounds News™
Source: https://telegra.ph/Mastercard-to-cut-around-1000-jobs---Bloomberg-08-19
~~~~~~~~~
Jackson Hole Economic Policy Symposium The 2024 Economic Policy Symposium. "Reassessing the Effectiveness and Transmission of Monetary Policy," will be held Aug. 22-24.
@ Newshounds News™
Source: https://telegra.ph/Jackson-Hole-Addressing-policy-challenges-and-marking-milestones-08-19
~~~~~~~~~
Crypto Market Jitters Amid Political Drama
This discovery comes at a rather tense time, with the U.S. political landscape adding more fuel to the already unpredictable crypto market. Vice President Kamala Harris has thrown her support behind the digital currencies, echoing the vision of the Democratic President-Elect.
But here’s the kicker: the current administration doesn’t seem to be on the same page. The government’s recent $2 billion crypto sell-off has stirred the pot, contradicting the pro-crypto stance many expected.
@ Newshounds News™
Source: Crypto News
~~~~~~~~~
Dubai court recognizes crypto as a valid salary payment
UAE lawyer Irina Heaver said the ruling shows the growing acceptance of crypto in employment contracts, recognizing the evolving nature of Web3 financial transactions.
In a significant update to the United Arab Emirates’ judiciary approach to crypto, the Dubai Court of First Instance recognizes salary payments in crypto as valid under employment contracts.
Irina Heaver, a partner at UAE law firm NeosLegal, explained that the ruling in case number 1739 of 2024 shows a shift from the court’s earlier stance in 2023, where a similar claim was denied because the crypto involved lacked precise valuation.
Heaver believes this shows a “progressive approach” to integrating digital currencies into the country’s legal and economic framework.
Dubai court recognizes inclusion of tokens in salary
Heaver said that the case involved an employee who filed a lawsuit claiming that the employer had not paid their wages, wrongful termination compensation and other benefits.
The worker’s employment contract stipulated a monthly salary in fiat and 5,250 in EcoWatt tokens. The dispute stems from the employer’s inability to pay the tokens portion of the employee’s salary in six months.
In 2023, the court acknowledged the inclusion of the EcoWatts tokens in the contract. Still, it did not enforce the payment in crypto, as the employee failed to provide a clear method for valuing the currency in fiat terms.
“This decision reflected a traditional viewpoint, emphasizing the need for concrete evidence when dealing with unconventional payment forms,” Heaver said.
However, the lawyer said that in 2024, the court “took a step forward,” ruling in favor of the employee and ordering the payment of the crypto salary as per the employment contract without converting it into fiat. Heaver said:
“This decision reflects a broader acceptance of cryptocurrency in employment contracts and highlights the court’s recognition of the evolving nature of financial transactions within the Web3 economy.”
Heaver added that the court’s reliance on the UAE Civil Transactions Law and Federal Decree-Law No. 33 of 2021 in both judgments shows the consistent application of legal principles in wage determination. 🍳
Far-reaching implications for UAE crypto adoption
According to Heaver, the decision also sets a positive precedent that encourages the further integration of digital currencies in everyday financial transactions. The lawyer believes that this fosters a more inclusive and innovative business environment. Heaver said:
“This ruling affirms that if an employment contract includes such terms, both the company and the employee must honor them. It is reassuring to see the court recognize that wages, whether paid in fiat or cryptocurrency, are the rightful entitlement of the employee for their agreed-upon work.”
Heaver added that it’s a win for employees and a significant step forward in the UAE’s journey toward becoming a digital economy leader.
@ Newshounds News™
Source: CoinTelegraph
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Newshound's Currency Facts Youtube and Rumble
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Thank you Dinar Recaps
"The Great Gold & Silver Rush of the 21st Century Is Here"
"The Great Gold & Silver Rush of the 21st Century Is Here" | Mike Maloney LIVE | Rebel Capitalist 1
8-15-2024
Join us for an eye-opening live presentation with Mike Maloney, founder of GoldSilver.com and author of "Guide to Investing in Gold and Silver" and “The Great Gold & Silver Rush of the 21st Century”.
In this thought-provoking discussion, Mike delves into the fundamental distinction between money and currency. Discover the historical significance of gold as money and witness how the U.S. dollar has drastically lost its value over time.
"The Great Gold & Silver Rush of the 21st Century Is Here" | Mike Maloney LIVE | Rebel Capitalist 1
8-15-2024
Join us for an eye-opening live presentation with Mike Maloney, founder of GoldSilver.com and author of "Guide to Investing in Gold and Silver" and “The Great Gold & Silver Rush of the 21st Century”.
In this thought-provoking discussion, Mike delves into the fundamental distinction between money and currency. Discover the historical significance of gold as money and witness how the U.S. dollar has drastically lost its value over time.
Learn about Mike's journey into precious metals investment and how Robert Kiyosaki played a pivotal role in his career.
Explore the essential attributes of true money, including being a store of value, unit of account, and medium of exchange. Find out why gold has stood the test of time as a reliable store of value, while fiat currencies like the U.S. dollar continue to erode in value.
From Recaps Archives
The "Hidden Secrets of Money" series by Mike Maloney
Money vs Currency - Hidden Secrets Of Money Episode 1 - Mike Maloney
https://youtu.be/DyV0OfU3-FU?t=1
Seven Stages Of Empire - Hidden Secrets Of Money Episode 2 - Mike Maloney
https://youtu.be/EdSq5H7awi8?t=1
This Timeline Shows The Death Of The US Dollar As World Reserve - Hidden Secrets Of Money Episode 3
https://youtu.be/y-IemeM-Ado?t=1
The Federal Reserve: Biggest Scam In The History Of Mankind - Hidden Secrets of Money Ep 4
https://youtu.be/iFDe5kUUyT0?t=1
Where Does Money Come From? - Hidden Secrets Of Money Ep 5 - Mike Maloney
https://youtu.be/OQWMd_NPSBA?t=1
Top 4 Reasons For Deflation BEFORE Hyperinflation - Hidden Secrets Of Money Episode 6 (Mike Maloney)
https://youtu.be/8GP87dgTqF8?t=1
The Money Illusion - Hidden Secrets Of Money Episode 7 - Mike Maloney
https://youtu.be/P4_1pwsm5LY?t=1
From Bitcoin To Hedera Hashgraph (Documentary) Hidden Secrets Of Money Episode 8
https://youtu.be/SF362xxcfdk?t=1
Fall Of Empires: Rome vs USA (Hidden Secrets Of Money Ep 9)
https://youtu.be/OuOcnGAv4oo?t=1
American Bread & Circus (Hidden Secrets Of Money Ep 10) https://youtu.be/fiCKf7hfagk?t=1
Seeds of Wisdom RV and Economic Updates Sunday Afternoon 8-18-24
Good Afternoon Dinar Recaps,
Colorado Church group tokenizes $2.5M chapel
This may be the first tokenized church in the world.YEP
A network of affiliated church groups called the “Colorado House of Prayer” has tokenized its main chapel in an effort to purchase the $2.5 million building.
The pastor heading the project, Blake Bush, says he was compelled by a higher power to use blockchain technology as a tool for advancing the group’s mission.
Good Afternoon Dinar Recaps,
Colorado Church group tokenizes $2.5M chapel
This may be the first tokenized church in the world.YEP
A network of affiliated church groups called the “Colorado House of Prayer” has tokenized its main chapel in an effort to purchase the $2.5 million building.
The pastor heading the project, Blake Bush, says he was compelled by a higher power to use blockchain technology as a tool for advancing the group’s mission.
Tokenize the building
According to a report from Forbes, Bush’s congregation and other church groups had been renting the building from its owner, a local businessperson who also owns a car dealership.
The 11,457-square-foot building, called “Old Stone Church” due to its stone exterior, was purchased by its current owner in 2022 at a cost of $2.2 million. Reportedly, Bush and the Colorado House of Prayer group intend to purchase the building for $2.5 million
Bush says he came up with the idea of tokenizing the building — putting it on the blockchain as a digital asset that can be split into shares — after a spiritual experience.
“I heard the Lord say, ‘tokenize the building,'" Bush told Forbes, later adding that he had been “praying for this for years” and that God had told him to “go get my house.”
Blockchain and real estate
In order to accomplish his holy mission, Bush and the group created “Stone Coin,” a digital asset used to raise money for the purchase of Old Stone Church. The coin is tied to a real estate token created by REtokens and running on the Polymesh private blockchain.
Like any tokenization project, the results will depend on the amount of positive token-flow and reactive value. The project is reportedly seeking investors after having raised about half of its goal.
In the future the token’s board, which includes Bush and other religious leaders as well as the mayor of a nearby town, plans to open up token sales to non-parishioners. While this could potentially put the digital asset ownership at risk of an outsider takeover, Bush doesn’t appear to be too concerned about that.
When presented with the notion that, for example, Satanists could end up making a run on the church’s tokens, Bush quipped that he’d be grateful, “let’s introduce you to Jesus.”
@ Newshounds News™
Source: CoinTelegraph
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“How does the ILP have global scalability?”
Because it is based on the internet.🎯 The internet is technology that is already global, has unlimited volume, and unlimited scalability.. And can reach any Human with an internet connection.💯
Now, overlay the internet with the ILP, and you have an international payments routing system that finds that most efficient route online to facilitate transactions between payment systems.
Powered by the XRPL🧩
Ripple’s solution is a hybrid solution that combines the ILP and the XRPL, as illustrated below as well.✅
@ Newshounds News™
Source: SMQKE (@SMQKEQG) on X , Nth Exception
☝️☝️☝️ THIS IS THE QFS ☝️☝️☝️
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Newly Released Map Illustrates XRP’s Role as a Future World Reserve and Bridge Currency
▪️ XRP may play a top role in bridging different countries’ CBDC in a possible global monetary reset.
▪️The cryptocurrency is best suited for this purpose owing to its cross-border settlement capabilities.
XRP will likely serve as a world reserve and bridge currency in the future. Per a recently published Map, this proposition comes amid heightened discussions of a potential restructuring of the international monetary system.
XRP’s Role as Global Reserve and Bridge Currency
Crypto enthusiast Edward Farina highlighted the map in a post on the social media platform X. The map describes how coins like XRP can serve as a global reserve asset, with gold as an essential anchor.
As a result, it challenges the long-running discussion surrounding gold as the cornerstone of a stable monetary system.
A map presents how $XRP could act as a World Reserve Currency and Bridge Currency 🔥
See Twitter Link Below for entire map
Gold has historically been seen as a reliable store of value and a hedge against inflation. However, its role in modern finance is increasingly being viewed through the lens of digital transformation.
The map outlines a tiered structure for global currencies. At the top of the rank is the SDR, an international reserve asset developed by the International Monetary Fund (IMF). Next on the rank are Tier 1 currencies, which may include the U.S. Dollar, Euro, Japanese Yen, and others from top nations.
Beneath these are Tier 2 assets encompassing Central Bank Digital Currencies (CBDCs). These assets would be connected to the currencies of different countries and issued by their central banks.
This means bridge currencies like XRP can facilitate conversions and transactions between these government-backed digital currencies, allowing them to interact seamlessly across national boundaries.
The map implies that XRP could help speed up the conversion of other CBDCs. This expectation is based on the digital asset’s ability to provide liquidity and reduce friction in international transactions.
XRP’s role as a bridge currency was accelerated during COVID-19 due to difficulties in making cross-border payments. At the time, Ripple’s head of global banking, Marjan Delatinne, said XRP is well positioned to bridge multiple or different CBDCs.
XRP’s role as a bridge currency is crucial due to the multiple digital currencies that are used globally. XRP can help ensure interoperability between these digital currencies for efficient global commerce.
@ Newshounds News™
Read More: Crypto News Flash , Twitter
~~~~~~~~~
Newshound's Currency Facts Youtube and Rumble
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More News, Rumors and Opinions Sunday Afternoon 8-18-2024
KTFA
Clare: Baghdad hosts regional technology summit
8/18/2024 Baghdad
Baghdad witnessed the launch of the Huawei Middle East and Central Asia Business Tour, which brought together more than 200 of its partners and customers from various industries to explore new avenues for growth and win the future of digital transformation in Iraq. The event highlights the importance of developing a stronger partnership ecosystem in Iraq and stimulates in-depth discussion on how comprehensive ICT solutions can enable key sectors including education, healthcare, government, real estate, and finance.
KTFA
Clare: Baghdad hosts regional technology summit
8/18/2024 Baghdad
Baghdad witnessed the launch of the Huawei Middle East and Central Asia Business Tour, which brought together more than 200 of its partners and customers from various industries to explore new avenues for growth and win the future of digital transformation in Iraq. The event highlights the importance of developing a stronger partnership ecosystem in Iraq and stimulates in-depth discussion on how comprehensive ICT solutions can enable key sectors including education, healthcare, government, real estate, and finance.
In his opening remarks, Mr. Alex Zhang, Vice President of Enterprise Business at Huawei Middle East and Central Asia, emphasized the importance of digital transformation for Iraq, saying: “Digital transformation is not just a strategic imperative for Iraq, but a path to sustainable growth. By leveraging advanced technologies and building strong partnerships, we can overcome challenges and open up unprecedented horizons for progress in the fields of government, education, healthcare, real estate, and financial services. Huawei is committed to investing in Iraq’s ICT infrastructure and strengthening the partnership ecosystem to drive this transformation.”
Rafid Abbas Kheder, Member of the Sub-Board of Directors of the Commercial Environment, also delivered the keynote speech titled “In Iraq for Iraq”, where he emphasized: “Huawei has been operating in the Iraqi market for more than 20 years and is dedicated to becoming a major contributor to the national digital economy. With an open mindset and continuous collaboration strategy, Huawei will work hand in hand with all partners and customers to achieve shared growth and success and start a new chapter in a thriving digital economy in Iraq.”
Huawei experts presented a comprehensive range of sector-specific solutions, each designed to empower key sectors in Iraq:
- *Education: Building a dynamic learning environment through robust network infrastructure, secure data centers, and smart classroom solutions.
- *Healthcare: Improving patient care and operational efficiency through smart wards, advanced medical imaging technology, and reliable hospital network solutions.
- *Finance: Securing sensitive financial data through robust networks and advanced storage solutions, allowing financial institutions to operate efficiently and drive economic stability.
- *Government: Enhance government services and decision making through smart office systems, advanced campus networks, and lightweight data centers to improve operations.
- *Real Estate: Leveraging Huawei's smart property management technology, creating a sustainable and efficient environment that optimizes energy consumption and enhances tenant experiences.
In the evening session, Jason Yang, Huawei’s Business Director for the Middle East and Central Asia, emphasized Iraq’s potential for digital growth, saying: “We see tremendous potential in the digitization of government and businesses in Iraq. Huawei’s commitment to strategic investment, strong partnerships, and partner-driven leadership approach puts the company at the forefront of driving this digital transformation.”
The event also introduced HUAWEI eKit, a platform designed for SMEs. This platform combines multiple functions including marketing, transactions, services, and partner operations, and offers a range of products that include networking products and collaboration tools specifically designed to meet the needs of SMEs.
Huawei’s trade show is a milestone in the digital transformation journey to provide an open and collaborative platform for the Iraqi market. The event was well received by attendees and reinforced Huawei’s role as a strategic partner in the region through its solutions. LINK
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Clare: Al-Sudani: The government pays great attention to the electricity file
8/18/2024 Baghdad
Prime Minister Mohammed Shia Al-Sudani confirmed today, Sunday, that the government pays great attention to the electricity file.
The Prime Minister's Media Office stated in a statement received by "Al-Eqtisad News" that "Al-Sudani chaired a meeting of the electricity team concerned with the electrical energy file, in the presence of the Minister of Electricity."
The meeting witnessed "discussing the development of a new technical and economic vision to address the problem of the shortage in the provision of electrical energy in the short and long term, and developing rapid solutions that would contribute to providing electricity to citizens and other vital sectors," according to the statement.
The meeting also discussed "the mechanism adopted to provide fuel, and the financing mechanism in the new economic model for electricity production projects, which the government has planned as part of its new vision in this important sector."
During the meeting, the Prime Minister stressed that "the government pays great attention to the electric power file, as it is one of the foundations on which economic plans and infrastructure projects in all sectors depend, and to create a development renaissance in the country." LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY:
Saleh...was talking about...raising the value of the currency. He talked about it for 45 minutes. FRANK: These are the people we want to listen to. They're the ones that Sudani is sending out to them...Everyday seems to be filled with monetary reform education to you Iraqi citizens. Don't you love it because this is what is supposed to be happening right now. They are preparing you for what they're going to give you, what they promised you. You are so close to receiving everything that they were talking to you about...
Babysmom WE SURELY ARE NOT IN THE SAME POSITION WE HAVE BEEN IN PAST YEARS...THIS IS DEFINITELY A DIFFERENT PLACE THAN WE HAVE EVER BEEN...OUR BEST IS YET TO COME!...
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This is what we investors looking for iqd # dinar
Nader: 8-18-2024
Three Currencies to Watch and Why IQD TRY ARS
Edu Matrix: 8-18-2024
Three Currencies to Watch and Why IQD TRY ARS - Rates These countries are on the path to a high GDP which could easily result in a higher currency rate.
“Tidbits From TNT” Sunday 8-18-2024
TNT:
Tishwash: Is it time to remove the zeros?
Yasser Al-Mutawali
There is an economic principle in the free market economy, capitalism, or whatever you call it, to treat the defect or distortion in the economic structure as a result of the shock.
That is, accepting the financial, economic and social effects of this measure in the hope of improving the economic reality.
TNT:
Tishwash: Is it time to remove the zeros?
Yasser Al-Mutawali
There is an economic principle in the free market economy, capitalism, or whatever you call it, to treat the defect or distortion in the economic structure as a result of the shock.
That is, accepting the financial, economic and social effects of this measure in the hope of improving the economic reality.
In order to clarify this principle and analyze its effects as a means of spreading economic culture, we will address the issue of deleting zeros from the currency in order to reduce its effects on the size of the monetary mass and the value of money. The more difficult and complex the solutions to reduce the dollar exchange rate between the official and parallel rates become, the more calls for the necessity of deleting zeros increase, believing that it is one of the solutions.
Here, if the decision is made to remove zeros, this means treating the defect with the shock effect, but we must first present the most prominent advantages and disadvantages of removing zeros and compare them to reach an optimal solution and a sound decision.
This is the best way to spread the culture of discrimination among the public, rather than addressing specialists because they are aware of the optimal solution. One of the most prominent advantages of removing zeros is reducing the size of the monetary mass, not its value (simply the number of banknotes used in circulation). This advantage results in the ease of carrying cash amounts and protecting them from theft or damage.
As for the disadvantages, deleting zeros will create countless social problems that we can do without at this stage due to the inability to convince the public to accept the decrease in the size of the monetary mass while acknowledging that the real value of the money is not affected. The issue is related to the mind and the memory’s preservation of large amounts, and then the solution of commercial and personal contracts and agreements creates disagreements and an inability to reach an understanding.
From the above analysis, it is clear that the procedure of deleting zeros is not appropriate at the present time. However, with the use of electronic payment operations, the environment will be mature and acceptable for the idea of implementing the decision to delete zeros, and the process will be automatic without the citizen feeling it. But is it time to issue the decision? We see that it is too early due to the recent introduction of electronic payment technology in commercial, market, official and private transactions. The experience is still limited to absorbing such a transformation, and when the percentage of acceptance and use of electronic payment tools reaches 90 percent of citizens, then the decision to delete zeros can be implemented easily and smoothly. It takes time to spread the culture of electronic payment, and it is required to intensify media and advertising campaigns to focus it in the citizen's memory and accept it. In such a case, the concerned authorities should reduce the costs of using electronic payment and impose strict control over fraud and manipulation, and then expand and diversify electronic payment companies throughout the country.
Those concerned should start with state institutions in using electronic payment for all transactions, and then the culture of electronic payment will expand. link
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Tishwash: The environment is fertile for investment and solid global companies.. Parliament is "optimistic" about the government and is monitoring
Today, Sunday (August 18, 2024), the Parliamentary Investment Committee described the investment companies operating in Iraq as “solid and international,” stressing that Parliament monitors their work .
Committee member Mohammed Al-Ziyadi told Baghdad Today, "All investment companies operating in Iraq are solid and international, and have many businesses in different countries. Any company operating in Iraq works according to specifications, and its file is audited and all its previous businesses in different countries are reviewed," stressing "the need for Parliament to monitor the work of these companies."
He added, "Iraq is not obligated to introduce any unsound foreign company, especially since Iraq has an important and fertile investment environment and all international companies have a real desire to work within it, especially in light of the security and political stability after the formation of the current government."
Since the first day that Mohammed Shia al-Sudani assumed power in the country, he stressed his keenness to attract solid international companies to implement road, bridge and infrastructure projects in Iraq.
Here, the Parliamentary Transport Committee confirms the success of the Iraqi government in developing external roads and paying attention to this file.
The head of the committee, Zahra Al-Bajari, told Baghdad Today, Saturday (August 10, 2024), that “the government has succeeded in developing many external roads between the governorates, and there is a clear and tangible improvement in those roads, through paving and tiling,” noting that “certainly this matter has contributed greatly to reducing traffic accidents, which used to occur on a daily basis due to the deterioration of those roads,” and she added: “We still need more attention to this file.”
Prime Minister Mohammed Shia al-Sudani has repeatedly stressed that his government is moving forward to fulfill its promises to implement service projects in Baghdad and the governorates. On May 27, 2024, the prime minister said, at the Rustumiyah, Al-Muhandisin and Al-Shaljiya bridges, as part of the first package of projects to ease traffic congestion in the capital, Baghdad, that his government is moving forward to fulfill its promises to the people and implement service projects in Baghdad and the governorates, indicating that "there are 4 projects at the level of bridges and overpasses in Anbar, Diwaniyah, Dhi Qar and Maysan, which will be opened within the next three months." link
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Tishwash: Has the spark ignited in the Iraqi dinar and the near-total collapse?
Economic expert Mustafa Hantoush said today, Saturday, that the current thinking about changing monetary policies for the next stage is incorrect, regardless of the people who will be nominated for the position of governor.
Hantoush told the “Iraq Observer” agency, “Iraq is currently going through a phase of almost complete collapse in monetary policies, which are: “the policy of preserving the national banking system - the policy of international monetary relations - the policy of protecting the local currency against foreign currencies.”
dollar mill
The economic expert continued: “In addition to the policy of activating banking operations and supporting the Iraqi market - the financing policy supporting the Iraqi industrial, agricultural, tourism and other sectors - the policy of the technical legal banking opinion supporting the movement of markets flexibly - the policy of activating the tools of the money market in the stock market - the policy of supporting electronic transactions.” Therefore, the next stage must be to rescue monetary policies through national monetary and banking plans.
Economic data
Globally, the dollar approached its highest level in two weeks against the yen after its largest one-day gains against its major counterparts in four weeks, as strong US economic data eliminated fears of recession.
New procedures
The dollar was particularly strong against the Japanese currency thanks to higher Treasury yields as traders scaled back bets that the Federal Reserve will be forced to take aggressive easing measures next month.
Risk-sensitive currencies such as the pound were strong as an improving economic outlook lifted stocks.
The dollar index, which measures the greenback against six major currencies including the yen, the pound and the euro, was little changed at 103.20 after rising 0.41% overnight, its biggest gain since July 18.
The dollar fell slightly to 149.11 yen, but remained close to yesterday's high of 149.40, a level last seen on Aug. 2.
The Commerce Department said retail sales rose 1.0% last month, beating expectations for a 0.3% gain. Separate figures showed 227,000 Americans filed for unemployment benefits last week, fewer than the 235,000 expected.
Traders are convinced that the Federal Reserve will cut interest rates on September 18, but the size of the cut is being discussed, according to a statement.
The odds are currently at 25% for a large 50 basis point cut, down from 36% the day before, according to CME Group's FedWatch tool.
Low salaries
Surprisingly weak monthly payrolls data at the start of the month has raised the odds of a larger cut to 71%.
Sterling was slightly higher at $1.2859, building on a 0.21% advance overnight. The British currency got additional support from strong GDP figures on Tuesday.
The euro was steady at $1.0973 after falling 0.36 percent in the previous session.
The risk-sensitive Australian dollar was steady at $0.66105 after advancing 0.2 percent the previous day after data showed a much larger-than-expected increase in jobs. link
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Tishwash: Controlling 80% of currency smuggling in Iraq.. 6 qualitative strikes "paid off" and efforts continue
The Parliamentary Security and Defense Committee revealed, today, Sunday (August 18, 2024), the secrets of 6 qualitative strikes against what it called hard currency smuggling mafias in Iraq.
Committee member MP Yasser Iskandar Watout said in an interview with Baghdad Today, "Smuggling hard currency in all its forms is a drain on the country's economic capabilities and leads to pressure on the markets by raising exchange rates, which leads to an increase in prices."
"There are efforts being made, some of which are exceptional, through the reports we receive that reflect the continuation of implementing a series of strategies to reduce the smuggling of hard currency, which has been controlled by up to 80% in recent months through the efforts of the Ministry of Interior and its formations with the Central Bank, which has achieved positive results in this regard," added Watout.
He pointed out that "6 operations took place in the past months, representing qualitative strikes against the hard currency smuggling mafias in Iraq, which bore fruit, explaining, "But has smuggling ended completely? The answer is no, and efforts are continuing to end these illegal acts, which are taking place with complications that require intensive and doubled work by the competent authorities."
Financial and economic expert Nawar Al-Saadi revealed on Friday (August 16, 2024) the importance of the benefits of “digitizing” financial transactions for Iraqi banks, while pointing out that digitization can enhance financial inclusion by attracting users who do not deal with traditional banks by providing easy-to-access and easy-to-use services.
Al-Saadi told Baghdad Today that “digitizing financial transactions in Iraqi banks can provide significant benefits, especially in terms of reducing currency smuggling,” indicating that “by adopting digital systems, banks can track all financial transfers with greater accuracy and transparency. This means that each transaction is automatically recorded and saved in a central database that can be reviewed at any time. This allows the relevant authorities to monitor and quickly detect suspicious financial activities, making it difficult for smugglers to exploit the financial system to smuggle currencies.”
“Digitizing the banking system contributes to reducing money laundering cases, as these operations usually depend on exploiting loopholes in traditional systems, but with an advanced digital system, these operations become more complex. Digitization also allows the use of advanced technologies such as artificial intelligence to analyze patterns in banking data and identify any abnormal or suspicious transactions,” he added, stressing that “this helps prevent money laundering by early identification of unusual activities and reporting them to the competent authorities.”
Al-Saadi explained that “to implement this digital transformation in Iraq, there is a need for investments in technological infrastructure and developing the institutional capabilities of banks,” noting that “this requires providing modern technology, training employees to use it effectively, in addition to developing legislation and laws that protect users and encourage digital transactions. It is also important to enhance customer awareness of the benefits of digital transactions and build their confidence in the new systems.”
He stressed that “digitization in banks contributes to achieving more transparency and credibility in the financial system, as each transaction can be easily tracked and reviewed. It also improves the operational efficiency of banks by completing transactions faster and at a lower cost. In terms of security, digitization provides higher levels of protection against fraud and theft through advanced encryption technologies.”
The financial and economic expert concluded by saying, “Digitization can enhance financial inclusion by attracting users who do not deal with traditional banks by providing easy-to-access and easy-to-use services. Digitizing financial transactions in Iraqi banks also has great potential to enhance economic stability and reduce the risks associated with money laundering and currency smuggling, leading to a safer and more efficient financial system link
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Mot: . How Long Does it Take for ~~~~
Mot: what a Team!!! Pickes –
News, Rumors and Opinions Sunday AM 8-18-2024
Geopolitical Analyst: BRICS No Longer Attaching Importance to the US Dollar
Sunday, 18 August 2024
In a world where geopolitical tensions often dictate the ebb and flow of energy markets, Iran’s oil exports are demonstrating a remarkable resilience. Recently, Petroleum Minister Javad Owji announced that Iran is successfully exporting oil to over 17 countries, presenting a compelling narrative of adaptation and survival.
This announcement reflects not just the ingenuity of the Iranian oil sector but also highlights the evolving dynamics in global energy markets, particularly in the context of U.S. sanctions and Iran’s recent engagement with BRICS.
Geopolitical Analyst: BRICS No Longer Attaching Importance to the US Dollar
Sunday, 18 August 2024
In a world where geopolitical tensions often dictate the ebb and flow of energy markets, Iran’s oil exports are demonstrating a remarkable resilience. Recently, Petroleum Minister Javad Owji announced that Iran is successfully exporting oil to over 17 countries, presenting a compelling narrative of adaptation and survival.
This announcement reflects not just the ingenuity of the Iranian oil sector but also highlights the evolving dynamics in global energy markets, particularly in the context of U.S. sanctions and Iran’s recent engagement with BRICS.
For years, Iran’s oil industry has operated under the heavy burden of economic sanctions imposed by the United States. These sanctions aimed to cripple the country’s vital revenue stream and limit its global oil market access. However, Minister Owji’s remarks signal a significant pivot. Iran has managed to neutralize these sanctions, indicating that the nation’s oil exports are still viable despite the economic pressures.
How has this been achieved? The answer lies in Iran’s strategic partnerships and a shift in the geographic focus of its oil trade. Instead of relying solely on traditional markets, Tehran has sought new buyers in Asia, Europe, and elsewhere, establishing relationships that circumvent traditional trade routes and channels. These efforts not only address immediate economic concerns but also underscore a broader trend of nations diversifying their energy sources to mitigate risks associated with geopolitical instability.
An essential factor in Iran’s oil export strategy has been its recent accession to the BRICS alliance—a group that includes Brazil, Russia, India, China, and South Africa. Membership in this influential bloc has equipped Iran with new avenues for economic cooperation, trade, and investment. BRICS countries represent a significant portion of the world’s population and, importantly, a substantial share of global energy demand.
The implications of Iran’s BRICS membership extend beyond mere geopolitical positioning. Enhanced ties with member nations offer Tehran a more stable customer base for its oil exports, less influenced by Western sanctions. Countries like China and India, both energy-hungry giants with a vested interest in stable oil supplies, are increasingly looking towards Iran as a reliable partner, providing Tehran with an essential lifeline in its quest for economic recovery.
As we look ahead, the evolution of Iran’s oil export capabilities presents a fascinating opportunity for potential buyers. With a diversification strategy in place and a growing list of countries willing to engage with Iranian oil, the market is set for a shift. The historical barriers imposed by Western policies are beginning to crumble, creating a ripple effect that could significantly alter the dynamics of global oil trade.
In this new landscape, nations are recognizing the importance of diversification in their energy portfolios. Iran’s ability to offer competitively priced oil could draw in countries that are looking to strengthen their energy security while navigating the complexities of international relations. As Minister Owji stated, Iran is establishing a robust network of trade routes that could enhance its status as a key player in the global energy sector.
Iran’s oil export strategy is evolving in exciting ways, moving beyond the traditional confines of economic sanctions and political isolation. As Javad Owji’s commentary highlights, the Islamic Republic is steadily redefining its role in the international oil market through innovation and adaptability. With membership in BRICS providing a significant boost, the prospects for Iran as a key oil supplier are increasingly bright.
Just as the global energy market continuously transforms, so too does Iran’s strategy to remain competitive. As the world watches, the coming months and years will reveal how effectively Tehran can leverage its partnerships and market opportunities to create a sustainable future for its oil exports. In the midst of adversity, Iran’s tenacity serves as a reminder of the complex interplay between energy, politics, and economic resilience.
Watch the video below from Geopolitical Analyst for more information.
Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 Question: "What are you looking for next?" I'm looking for Sudani to come out and show the Iraqi citizens their new currency, their lower notes in whatever fashion that he'll take.
Militia Man The Untied States Treasury has a floor at the Central bank, a whole one. They're not going away. The smuggling of hard currency is about to get a rude awakening...That cash cow people were sapping into that was in the billions of dollars auctions, looks like it's going to be going away as we know it...All that is going to dry up fast.
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BREAKING Iraq Delays US Troop Withdrawal This is a MAJOR Development
Edu Matrix: 8-18-2024
THIS IS MAJOR - Iraq Delays US Troop Withdrawal Issues Surrounding Tensions in the Region
Bullion Bulletin - AUGUST 17, 2024
Miles Franklin: 8-18-2024
Welcome to our eighth compilation of videos from the previous week! We are dedicated to bringing you the latest insights and updates in the precious metals industry. In this compilation, you'll find a variety of engaging and informative content featuring expert analysis and discussions.