Seeds of Wisdom RV and Economic Updates Wednesday Evening 8-21-24

Good Evening Dinar Recaps,

El Salvador launches Bitcoin training for 80,000 public servants

Over the years, El Salvador has stepped up efforts to integrate Bitcoin into its educational system.

El Salvador’s National Bitcoin Office (ONBTC) has launched a Bitcoin training and certification program for 80,000 public servants.

In an Aug. 20 statement, ONBTC confirmed that Bitcoin education is now a vital component of a governance initiative designed for public sector employees.

 This program is part of the Higher School of Innovation in Public Administration (ESIAP), established by President Nayib Bukele in 2021 to elevate governance standards.

The program features nine training modules covering Bitcoin, Blockchain, Cybersecurity, and Artificial Intelligence, among others. Upon completion, participants will receive certification in these areas.

Stacy Herbert, Director of the Bitcoin Office, hinted at a larger announcement on the horizon, noting that this program is just the beginning. She added:

“These education projects are very low time preference commitments to the long term success of El Salvador and its bitcoin (& tech) policy.”

Meanwhile, these trainings are part of El Salvador’s broader effort to advance Bitcoin education nationwide. Since adopting Bitcoin as a legal tender in 2021, the country has introduced three other crypto-focused educational initiatives, including Cuboplus, My First Bitcoin, and Node Nation, which are now part of the public school curriculum.

El Salvador Bitcoin

This move confirms that El Salvador remains steadfast in its Bitcoin strategy despite initially drawing criticism and doubt from international observers.

Indeed, the strategy appears to be finally paying off, as the International Monetary Fund (IMF) recently acknowledged that its anticipated risks of El Salvador adopting Bitcoin as a legal tender have not materialized.

Further, El Salvador’s Bitcoin holdings have yielded a profit of over 35%, largely due to strategic acquisitions made during market downturns. According to Nayibtracker data, the country currently holds 5,848 Bitcoin at an unrealized profit of more than $47 million.

In addition, President Bukele recently announced a $1.6 billion investment by Turkish firm Yilport Holdings to upgrade two ports in the country, one of which will host the proposed Bitcoin City. 

The city, envisioned during the 2021 Bitcoin adoption, is expected to be a tax haven powered by geothermal energy for Bitcoin mining and will attract crypto enthusiasts worldwide.

@ Newshounds News™

Read more:  CryptoSlate

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Crypto Payment Network for AI Agents Launched by Former Ripple Execs

The company, Skyfire, raised $8.5 million to help AI get things done, even when it involves paying for something.

AI systems can do many things: conjure images and videos, write treatises, synthesize terabytes of information, and even replicate human speech patterns and emulate emotions.

But one thing they cannot yet do, as simple as it sounds, is pay for anything.

Two former Ripple developers now seek to eliminate that barrier by fusing blockchain payments with AI to bring forth what they believe will soon emerge as a new chapter for both technologies.

Their novel service, an open-source payment system called Skyfire, will allow autonomous AI agents to zip around the internet, purchasing whatever goods they need to complete assigned missions—everything from data storage and creative assets to airfare and groceries. All such transactions will be powered by USDC, the popular stablecoin.

The company, which today announced an $8.5 million seed raise, is backed by crypto heavy hitters, including Circle—the issuer of USDC—Ripple, Gemini, and the VC firm of prominent Silicon Valley billionaire and Bitcoin advocate Tim Draper. Skyfire currently runs on Polygon, the Ethereum scaling network, but it says it plans to expand to additional blockchains soon.

@ Newshounds News™

Read more:  Decrypt

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Swiss Banks Embrace Instant Payments: Could XRP Become the Go-To Crypto?

▪️Switzerland has taken a step further in embracing crypto with the recent expansion of the instant payment scheme as other banks integrate XRP into their trading platforms.

▪️According to reports, 28% of banks in Switzerland allow or are planning to allow customers to invest in crypto.

According to an announcement by the Swiss National Bank (SNB) and financial infrastructure operator SIX Interbank Clearing Ltd, Switzerland has reached an advanced phase in its effort to leverage the power of instant payment schemes to go cashless.

In the SNB report reviewed by Crypto News Flash, about 60 financial institutions within the country currently can process and receive payment instantly (within 10 seconds). Interestingly, this makes up about 95% of the Swiss retail payment transactions.

The report further discloses that the first institution has launched its retail offering with several others expected to join in the coming months. With this, experts believe that the financial economy could be boosted since private individuals and companies could perform account-to-account transactions around the clock.

This offers significant advantages for individuals, companies and commercial banks. Thanks to shorter settlement chains, risks are reduced and funds received are available immediately. For companies and commercial banks, instant payments expand opportunities for automating processes and linking with other services.

Commenting on this, SNB and SIX disclosed that instant payment could be widely established in Switzerland in the medium term and could be a model for future related innovations.

The technical framework for this new type of payment was put in place with the successful go-live of the new generation of the central Swiss payment system in November 2023.

This market launch represents a further important milestone and reflects the collective stakeholder commitment to the future of cashless payments in Switzerland.

Could XRP be Considered for this Innovation

With the country expected to fully redefine its financial system with the perfect establishment of an instant payment scheme, experts believe that XRP could be integrated in the future.

Fortunately, this possibility is not far-fetched as a Swiss bank fully owned by the government, PostFinance, recently announced the addition of Solana (SOL) and Ripple (XRP) to its trading platform.

According to reports, XRP could get more integration in the future, with 28% of Swiss banks currently allowing clients or planning to enable them to invest in crypto. In addition to PostFinance, the cantonal banks of Zug, St Gallen, and Lucerne have all introduced their crypto offerings.

PostFinance’s history in the crypto industry could be traced beyond 2023, when it partnered with Sygnum Bank to regulate crypto services. The basis of the collaboration was to allow customers to buy, sell, and store cryptos like Bitcoin (BTC), Ethereum (ETH), and now XRP.

Last year, we reported that Swiss banking giant BBVA had expanded its partnership with Ripple-owned Metaco to enable a robust engagement in crypto. 

Priding itself as the first tier 1 bank in the Eurozone to combine crypto custodial and trading services alongside traditional assets, BBVA is expected to lead the way for full XRP integration.

Currently, XRP is being set up to lead the new global financial era, which is marked by its recent integration with MasterCard, while Ripple is working to boost Real-World Asset (RWA) tokenization worldwide.

At press time, XRP traded at $0.59 after declining by 0.12% in the last 24 hours.

@ Newshounds News™

Source:  Crypto News Flash

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Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 8-21-24

Good Afternoon Dinar Recaps,

IOTA Foundation a Winner in EBSI PCP, Demonstrating Scalability and Sustainability

The IOTA Foundation has successfully completed the final phase of the European Blockchain PCP, developing a scalable, energy-efficient, and secure blockchain solution using its Tangle technology.

As part of the European Blockchain PCP, IOTA created prototypes such as Digital Product Passports for electronics and plastics and an Intellectual Property Rights (IPR) Marketplace.

The IOTA Foundation recently announced that it has successfully completed the third and final phase of the European Blockchain Pre-Commercial Procurement (PCP), a big initiative funded by the European Commission. IOTA was one of the seven projects to participate in the European Blockchain PCP which began back in 2020.

The goal of the European Blockchain PCP is to build new Distributed Ledger Technology (DLT) solutions for integration into the European Blockchain Services Infrastructure (EBSI). 

As reported by Crypto News Flash, EBSI is an open-source permissioned network supporting cross-border credential attestations across the European continent.

Its long-term vision includes the evolution of the infrastructure into the European Digital Infrastructure Consortium for Blockchain (EUROPEUM-EDIC) which will offer scalability, energy efficiency, and secure blockchain applications.

Throughout the phases of this project, IOTA, along with its partners such as Digimarc, Software AG, Uncommon Digital, etc., developed a solution combining the DAG-based tangle DLT with open-source building blocks and APIs. 

This solution includes a core DLT layer built atop the Stardust version of the Tangle protocol, which uses a Decentralized Coordinator with a Proof-of-Authority consensus mechanism involving EU member states and institutions.

It further ensures decentralization, efficiency, interoperability, and scalability, enabled by the “Tangle Tree” data sharding concept and EVM-compatible IOTA Smart Contract Chains. 

Now, with the completion of the European Blockchain PCP, IOTA can apply these innovations and prototypes in the market, thereby contributing to future blockchain services in Europe.

IOTA Builds Innovative Prototypes for European Blockchain PCP

As part of its involvement in the European Blockchain Pre-Commercial Procurement (PCP), the IOTA Foundation built innovative solution prototypes. One such prototype focuses on intellectual property rights (IPR) management by leveraging NFTs, smart contracts, and decentralized identities (DIDs). As reported by Crypto News Flash, IOTA has also created an IPR Marketplace that is accessible through an EU Digital Identity-compatible credential wallet.

Similarly, IOTA has also developed Digital Product Passports (DPPs) for both the electronics and the plastic industries. Thus, the Electronics DPP prototype tracks the entire lifecycle of electronic devices, right from manufacturing to recycling. Similarly, the Plastics DPP prototype focuses on the transformation of agricultural plastic waste into bioplastic, while recording each phase of the process, per the CNF report.

IOTA successfully demonstrated its technology in the European Blockchain PCP across multiple areas such as:

▪️Scalability: IOTA’s Tangle technology achieved 90K confirmed transactions per second by using the Tangle Tree sharding concept, thereby supporting exponential scalability with 100 interconnected Tangles.

▪️Sustainability: The energy consumption for IOTA’s Stardust Tangle has scaled logarithmically with transaction volumes. IOTA noted that this makes it more energy-efficient than other solutions, like Hyperledger Besu.

▪️Security and Privacy: IOTA aligned with industry standards, developed quantum-resistant cryptography, and ensured compatibility with European regulations, enhancing both security and privacy in its blockchain solution.

@ Newshounds News™

Source:  Crypto News Flash

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Malaysia’s Anwar Ibrahim visits India to reset ties, boost Brics membership bid

The first visit to India by PM Anwar Ibrahim is timely due to China’s rising dominance of Malaysia’s foreign policy space, analysts say

Malaysia’s Anwar Ibrahim on Monday makes his debut trip to India as prime minister, seeking support for his country’s application to join the Brics bloc and to rekindle a bilateral relationship that was worth over US$16 billion in trade last year.

During its first prime minister-led delegation’s visit to India since 2018, Malaysia hopes to bolster ties with one of Asia’s fastest-growing economies. India is the largest buyer of Malaysian palm oil and a key exporter of rice to the Southeast Asian nation.

The application to join Brics, which was submitted to the current chairman Russia, is aimed at cushioning a potential impact on Malaysia from the escalating US-China trade and tech war, analysts say.

Brics comprises founder members Brazil, Russia, India, China and South Africa, as well as Saudi Arabia, Iran, Ethiopia, Egypt and the United Arab Emirates, offering preferential trade and investment with countries covering 45 per cent of the world’s population.

Anwar’s three-day visit is also a chance to reset Malaysia’s relations with India, analysts say, following a hangover from a spat with New Delhi under a previous Malaysian administration and China increasingly dominating the Southeast Asian nation’s foreign policy space.

During his visit, Anwar is scheduled to hold talks with his counterpart Narendra Modi, Malaysia’s foreign ministry said in a statement on Sunday, as well as meet India’s captains of industry and deliver a lecture on Malaysia-India ties.

The visit marks the first top-level visit by a Malaysian leader since former prime minister Mahathir Mohamad in 2019 accused India of having “invaded and occupied” Kashmir. His comments triggered a limited boycott of Malaysia’s palm oil – one of its biggest exports – by Indian traders.

India has been Malaysia’s top export market for its palm oil for 10 years running, buying 2.84 million tonnes in 2023, or nearly 20 per cent of Malaysia’s total palm oil exports, according to Malaysian government data. In contrast, China bought 1.47 million tonnes of palm oil shipments.

Malaysia is also heavily dependent on India for its domestic food supply.

In March, Malaysia’s government put in a request to import an additional 500,000 metric tonnes of rice from the world’s largest rice exporter, as a prolonged drought crimped domestic output and put pressure on national grain stockpiles. The request was on top of an earlier rice export quota of 170,000 metric tonnes allocated for Malaysia for the year.

India also has deep cultural links with Malaysia, whose minority ethnic Indians make hundreds of thousands of annual visits each year to their ancestral family villages and perform religious pilgrimages in temples, mostly in India’s south.

There is also a burgeoning strategic dimension in the relationship to serve as ballast to counter China’s influence, which looms large over the contested South China Sea, analysts say.

“Beijing’s rapid ascendency in the past three decades has transformed the entire power and economic equation in the region, and until recently, there was no adequate power balancer to this new power dynamic apart from the West,” said Collins Chong Yew Keat, a foreign affairs analyst with the University of Malaya.

The visit presents an opportunity for Malaysia to explore deeper defence cooperation with India, which has been upgrading its security and naval capacities and is carving out an increasingly important role in Asia’s regional maritime resilience, Chong added.

It is a role outlined in Modi’s Indo-Pacific Oceans Initiative launched in 2019, which presents the South Asian power as potentially the “primary power challenger” to China, Chong said.

@ Newshounds News™

Read more:  SCMP

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Ripple Enhances XRP Ledger (XRPL) with Launch of New Batch Devnet Servers

▪️Ripple launches Batch-Devnet Servers, boosting XRPL’s development with enhanced testing capabilities.

▪️New Batch Transactions feature on XRPL streamlines complex operations, aiding NFT minting and more.

Ripple Labs developers are taking significant steps to enhance the XRP Ledger (XRPL). Following the new era for XRPL we discussed earlier, Ripple and Archax are working to tokenize millions in real-world assets.

The latest update is the announcement of the availability of Batch-Devnet Servers, which serve as a parallel XRP Ledger test network.

As per a tweet yesterday, RippleX shared that the Batch-Devnet Servers are now available as a parallel XRP Ledger test network.

These test networks provide a platform for testing changes to the XRPL and connecting software without using real funds. It’s important to note that the ledger history and balances on these networks can be reset at any time, and users are advised not to use Testnet or Devnet credentials on the Mainnet.

RippleX also highlighted that users can now explore the new “Batch Transactions” feature. This allows multiple transactions to be bundled and executed as a single unit, enhancing reliability and predictability for complex operations.

All balances and XRP on these networks are separate from the Mainnet. As a precaution, do not use Testnet or Devnet credentials on the Mainnet.

One practical use case for this technology is the minting of non-fungible tokens (NFTs) and creating an offer for them in a single transaction.

Taking into account that the XRP Ledger set a new record with 90 million ledgers closed, as CNF previously highlighted, it was a key achievement highlighting XRPL’s growth and community involvement. According to CoinMarketCap data today, Ripple (XRP) is trading at $0.5946, declined by 1.39% in the past day, and surged by 3.23% in the past week.

@ Newshounds News™

Source:  Crypto News Flash

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Rescheduled for next week

8 /28/ 2024 Noon Central

Listen Here: Podcast Call Link 
Isaac's Room Link
Replay YouTube Link

 @ Newshounds News™

~~~~~~~~~

Newshound's Currency Facts Youtube and Rumble
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More News, Rumors and Opinions Wednesday Afternoon 8-21-2024

TNT:

Tishwash:  Iraq pursues his former oil minister via Interpol

 ERBIL (Kurdistan 24) – The Federal Commission for Integrity continues to coordinate with Interpol to arrest former Iraqi Oil Minister Ihsan Abdul-Jabbar, who is involved in billions of dollars of corruption.

In mid-August August 2023, the Karkh Investigation Court, which specializes in integrity issues, issued a decision to seize the movable and immovable funds of former Oil Minister Ihsan Abdul Jabbar.

At the time, Iraqi supervisory sources spoke of inflation and extreme wealth in the minister's funds, who, according to the same sources, owns millions of dollars worth of real estate in Iraq and abroad.

Earlier, the head of the transport and communications committee in the Iraqi parliament, Zahra al-Bajari, confirmed that the former minister in the integrity courts has 68 files related to financial and administrative corruption and waste of public money.

At the time, she pointed out that Abdul-Jabbar was involved in damaging public funds within the oil sector worth $ 825 billion.

Al-Bajari said in a press statement on October 18, October, 2022, that the former minister "amended a contract between the Ministry of Oil and two British and Chinese companies related to the Rumaila oil field in a way that causes financial damage to Iraq estimated at more than $ 825 billion over 25 years."

The Iraqi MP said, based on a report of the financial audit, that among the paragraphs affected by the amendment in the contract is a paragraph to reduce oil production and export by 750,000 barrels per day.  link

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Tishwash:  Calls to form a parliamentary committee to investigate the discrepancy in the budget tables amounting to 8 trillion

 Member of Parliament, Sarwa Abdul Wahid, called on Wednesday for the formation of a parliamentary committee to present its results to the House of Representatives regarding the difference in the budget tables, which amounts to 8 trillion dinars.

Abdul Wahid said in a statement seen by Al-Eqtisad News, "After talking about the difference in the budget tables, which amounts to 8 trillion, it became necessary for the presidency of the council to respond to the letter of the Council of Ministers that was sent on the first of last July, and as a result, the head of the Finance Committee ordered the formation of a committee to find out the facts."

Abdul Wahid explained, "It seems that there is (deception on the issue), so we demand the formation of a parliamentary committee whose results will be presented to the House of Representatives to find out the facts. If the Cabinet's letter is accurate and there is manipulation of the tables, then this is a disaster that must not be ignored, and Parliament must not be allowed to be a bridge for the corrupt."  link

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Mnt Goat   Once again, the Project to Delete the Zeros raises its head up. Yes, two more articles on it this period... There are other articles today related to the topic that help us understand and tell us they know what they have to do and its just a matter of time how and when they do it. The clock it ticking… tic, toc, tic, toc.

Militia Man   Article Quote:   "The Deputy Governor of the Central Bank of Iraq has confirmed work is underway to reduce the price of the dollar against a dinar in the coming days."  We've heard this before but we haven't seen the end result yet.  Why is that?  Could they have been trying to do it before?  Sure.  Have they tried many times?  They could have.  Are they trying to do it again?  The evidence support that this is what they are telling us - that they're going to try to do it again.  Hopefully they get this one done.

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WARNING! Forget About A STOCK MARKET CRASH! Something MUCH BIGGER Is Coming.

Greg Mannarino:  8-21-2024

https://www.youtube.com/watch?v=vVzUFpjZtn0

Market Needs 40% Correction, GOLD To $6,000? | Michael Pento

Soar Financially:  6-20-2024

Michael Pento discusses his concerns about the current economic landscape, focusing on the risks posed by massive asset bubbles in stocks, real estate, and credit. He outlines his investment strategy and explains why he believes significant market corrections are inevitable. Michael also shares his views on inflation, deflation, and the potential for gold to rise to $5,000 or $6,000 per ounce.

https://www.youtube.com/watch?v=Xp_APyzYSuc

Economist’s “News and Views” Wednesday 8-21-2024

Why Gold Price Ripping is Giving Us Big Clues About Financial System Crashing - Lyn Alden

Daniela Cambone:  8-20-2024

The global financial system is under strain, with currencies around the world failing or on the brink, warns Lyn Alden, founder of Lyn Alden Investment Strategy.

In this interview with Daniela Cambone, Alden explains why there is significant upside for gold in the next five to ten years—and why waiting for small dips could cost you big.

Alden discusses how the U.S. and Europe are sliding toward Japan-style stagnation but without the benefits of a current account surplus or social cohesion.

As public debt and fiscal deficits surge, Alden predicts a more inflationary future and shares insights on how to navigate these challenging times.

CHAPTERS:

00:00 Fed/Small Rate Cuts

4:21 Gold Price

 6:39 U.S. Dollar

9:35 Gold Analysis

 11:12 Silver Market

12:24 Wall Street's Interest in Gold

13:57 Carry Trade Impact

 18:14 AI Bubble Burst

19:56 Financial System Breakdown

23:34 How to Better Prepare

25:00 CBDCs (Central Bank Digital Currencies)

26:30 U.S. Economy Outlook

28:41 Banking Sector Overview

31:22 U.S. Deficit Concerns

33:10 Lessons from Argentina

https://www.youtube.com/watch?v=h5ZNZjG0pJY

BREAKING: A Key Actor in Central Asia Applies to Join BRICS Following Meeting with Russia

Lena Petrova: 8-21-2024

https://www.youtube.com/watch?v=t0lGkBjfHP8

‘Reset Of A Lifetime’; Markets Signal 'Global Deflationary Recession' | Mike McGlone

David Lin:  8-20-2024

0:00 - Intro

1:12 - Bitcoin leading markets

5:38 - Bitcoin vs. stocks

10:45 - 5% unemployment forecast

15:50 – Deflation

 18:30 - Gold vs. stocks

24:45 - CPI vs. PPI

30:11 - Bond market outlook

33:30 - Reset of a lifetime

https://www.youtube.com/watch?v=5hleEr9oKA4

Seeds of Wisdom RV and Economic Updates Wednesday Morning 8-21-24

Good Morning Dinar Recaps,

IOTA Foundation Develops 3 Innovative Solutions for EU_EBSI Funded by European Commission

▪️The IOTA Foundation has introduced three groundbreaking products in collaboration with the European Commission to enhance transparency across various sectors by utilizing blockchain technology.

▪️The new tools include a Digital Product Passport for electronics, a Digital Product Passport for plastics, and an Intellectual Property Rights (IPR) management solution.

In the latest development, the IOTA Foundation recently developed three revolutionary products, which they launched in association with the European Commission. With these products, IOTA focuses on raising levels of transparency in numerous industries and sectors.

Moreover, these innovations come within the framework of the European Blockchain Pre-Commercial Procurement (PCP). For context, PCP focuses on developing enhanced solutions for blockchain. Let’s take a look at all three products from IOTA.

1. Digital Product Passport For Electronics (H2)

The DPP for electronics manages the lifecycle of electronic goods. The IOTA Foundation built it in collaboration with the Technical University of Catalonia and eReuse. This tool uses blockchain to ensure that all electronics right from manufacturing to its disassembling and recycling are well recorded.

The DPP addresses key stages in an electronic device’s lifecycle: procurement of the raw materials, manufacturing, utilization, and disposal of the product. Also, there is a record of each level of the process, which guarantees proper documentation of all information about the device regarding its chemical content, breakdowns, and recycling procedures.

Furthermore, effective record-keeping also boosts the area of accountability. The DPP prototype uses IOTA Smart Contracts in order to record key information and to easily track and validate the history of electronic products throughout the chain, per the CNF report.

2. Digital Product Passport For Plastics (H2)

To tackle the ecological concern of plastic waste, the IOTA Foundation has developed a DPP prototype designed specifically for agroplastic products like agricultural mulch films. For this initiative, IOTA has partnered with Digimarc and Agro2Circula, and together, they will work on tracing the journey of plastics right from use to reuse, recycling, and reuse as products, reported Crypto News Flash.

However, this operation is rather complex and implies the involvement of many parties, and its specifics depend on national legislation. Nonetheless, the solution gives a comprehensive account of the lifecycle of plastic. It also includes the journey in which the waste is disposed of through recycling and upcycling techniques.

This prototype by the IOTA Foundation provides proof of work in tracking the disposed plastic in a transparent and verifiable manner. As such, it assists in minimizing the effects of plastic waste on the environment.

3. Intellectual Property Rights (IPR) Management Solution (H2)

The third innovation is an identification model created to provide more efficient guidance on Intellectual Property Rights related to the media. IOTA was developed keeping in mind the complexity of the process of licensing music used in films. Thus, this tool uses distributed ledger technology and smart contracts for rights management and royalty payments.

The IPR Marketplace system relies on IOTA Smart Contracts that turn conventional negotiations and paperwork into digital contracts that self-execute and self-enforce. Furthermore, it ensures that rights holders can protect and claim their compensation in an orderly manner, reported CNF.

The system also supports Non-Fungible Tokens (NFTs), designed to ensure timely payment for everyone, from the performer to songwriters and record companies. These NFTs also enhance traceability and reduce disputes.

@ Newshounds News™

Source:  Crypto News Flash

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Listen and learn from this man. He has facts and shares with us as we all wait. Share with others!
August 21, 2024 12:00 Central Noon, 1 pm ET
Listen Here - Podcast Room https://t.me/+VAm-AlWWqWPzyK8G
Replays - YouTube Currency Facts - YouTube

 
Directly from Isaac when ask for a bio

“But understand I do not have contacts. Isaac
"I have buyers the us treasury , DOD , Admiral , HSBC several big platforms that I have signed contracts with all and they paid already for the inspection several times" Isaac

See photos of Isaacs bonds here:

https://telegra.ph/Isaacs-Facts-and-Truth-08-03

@ Newshounds News™

~~~~~~~~~

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News, Rumors and Opinions Wednesday AM 8-21-2024

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 Wed. 21 Aug. 2024

Compiled Wed. 21 Aug. 2024 12:01 am EST by Judy Byington

Global Currency Reset: (Rumors and Opinions )

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 it has been completed since Thursday. They hope to be done funding all Central Banks today. People are being paid in the US already. It should be international sometime after two o clock am Tues. 20 Aug. I’m hearing people were exchanging at a live rate internationally. ”

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Tues. 20 Aug. 2024 Bruce:

Canada may get a different 800# to call that will route you to Redemption Centers in Canada where you will get the best rates. HSBC is the lead bank in Canada.

At midnight tonight EST all US accounts will be on the Quantum System with the USN as our designated currency.

Our sources are saying Tier4b will get notifications tomorrow Wed. 21 Aug.

Redemption Centers have been contacted by email telling them when Tier4b will get notifications and when appointments will start.

R&R amounts will be set up by age groups starting at age 28.

Non currency holders on SS will get their R&R amounts automatically deposited in their bank accounts. That could happen as early as this week and will by the end of the month.

Mortgages and credit cards will be wiped out by the end of the month. You will be under NDAs not to talk about that until Thanksgiving.

New rates on currencies were solid on the bank screens Sun. night.

Redemption Center bank screen rates are much higher than on bank screens.

US citizens will be offered the contract rate on the Dinar based on the per oil barrel rate.

~~~~~~~~~~

Tues. 20 Aug. 2024 Wolverine:

I do have some incredible news coming out. I can speak in generalities and give you guys hope as to what is going on. I am elated things are ready to kick off! The Whales are traveling to Reno. They are closing major operations now and they are on the floor there as I speak.

Zurich – I got incredible news that things are kicking off there.

This week Precatorias is getting ready to get done.  Their funding is controlled by the QFS. I will get their opera – not MY opera, so when I get their opera I will post it in the room(s), I will let you know IT IS FOR THE PRECATORIAS and NOT my opera.  My opera will have me singing!I am just elated!

Asia (Hong Kong) has kicked off from what I hear. I am sure I will get even more news by tomorrow.

Everything is moving.  We have wonderful news incoming.

As far as the Tier4B group is concerned, I will leave this to Texas Snake as it is his dept and I am sure Bruce will have news regarding that .

The Admiral core group is waiting for currency to be released this week. It is ALL good news coming through this week. Hold on. Praying it all comes in.

When I get the GREEN light IT WILL BE FOR EVERYONE not just for the bondholders! 

From my side, I may be under NDA tomorrow, I will need to be quiet. I will monitor the room and not be able to talk.    NOTE: I have a particular whale screaming and dancing and elated right now! That person has got millions of bonds in boxes!  He is absolutely elated.

So things are now definitely kicked off. Most Likely, tomorrow may be Opera time!!! And I may be under an NDA, and that is good news for all of us. Take care, Wolverine

Tues. 20 Aug. 2024 MarkZ: “A Bond contact was told that all roadblocks have been cleared and to expect things to start happening tomorrow Wed. 21 Aug. A large group in Reno (not the Admiral’s group) has started exchanging. The Admiral is hopeful for a payout schedule for later this week. Farm claims are continuing to be paid out.”

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Global Financial Crisis:

Mon. 19 Aug. 2024:  CHECKMATE!!! The Black Swan Event: A Financial Apocalypse with Stock Market and Bitcoin Collapse, Power Grid Blackout, and EBS-Triggered Quantum Energy Revolution – amg-news.com – American Media Group

All U.S. banks have been purchased by the New U.S. Treasury (which has relocated from Washington D.C. to the Sparks Indian Colony near Reno, Nevada) 

Results of a military investigation found that some bank owners secretly received a full loan payment immediately after a home owner signed mortgage papers but continued to require and accept monthly mortgage payments from the home owner. They were double dipping.

Here is what has been happening for decades: In the early 1940’s, as Birth Certificates were started and generally accepted as legal documents, corrupt politicians kept the original documents, monetized and sold them on the Stock Market (parents received copies and not the originals). The politicians dipped into this hidden and illegal slush fund created from the sales. The scheme was finally revealed by Military investigators. In the next few weeks, all illegal profits made from birth certificates will be returned to each citizen.

Debt Jubilee or forgiveness of all debts: For over a year now, citizens have looked forward to this benefit from the new laws of the Republic. It was finally legalized by Mr. Trump on Wednesday, July 10, 2024.

Details: The U.S. Treasury will send out a computer algorithm to each bank to zero out all mortgage debt, credit card debt, car debt, etc. Citizens do not have to contact their debtor to ask for the Debt Jubilee. Watch for your new zero balance statement coming out sometime in August.

Changes are coming in home ownership, foreclosures, and taxes.

Beginning in August, Mortgages will be tokenized with a blockchain platform. Details will be coming. It started with the farmers of America. They have used their farm machinery and family home as collateral for security of loans. Many lost their farm and home if they defaulted on loan payments. Mr. Trump has changed the system so no family will lose their farm or home.

Next to be financially reimbursed are the American Indians. Then debt relief to all U.S. citizens.

Foreclosures are now illegal. No more property taxes. Sales of used homes will have no taxation; new homes will have a sales tax.

To cure inflation, all pricing of homes, cars, merchandise, etc. will use the pricing from the year 1955.  No more credit scores. All three credit reporting agencies have been dismantled.

Store Closures:
Bed Bath and Beyond 360 stores
99 Store 371 stores
Best Buy 15 stores
Carters all stores on line only
Rite Aid 231 stores
Sun coast all stores
Foot Locker 400 stores
Express 100 stores
Walgreens 150 stores
David Bridal all locations
Tuesday morning all locations
Rue 21 540 stores
Family dollar 600 stores
Party City all locations
Christmas Tree Shop all locations
H & M 240 stores
CVS 900 stores

Read full post here:  https://dinarchronicles.com/2024/08/21/restored-republic-via-a-gcr-update-as-of-august-21-2024/

************

Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26  [Iraq boots-on-the-ground report]  FIREFLY:  Saleh was talking about the floats and he was also talking to us about fixed rates.  He's saying no decisions have been made.  They talked about the pros and the cons of each one of these options.  Then the CBI came out and said in the coming days we will make actions to lower the dollar exchange rate.  FRANK:   Can the CBI lower the dollar exchange rate?  No.  Yes! How?  FIREFLY: ...The CBI's job is not to control the dollar...They can't touch a dollar but...the CBI can touch the dinar...If they lifted the value of our currency wouldn't that bring down the value of the dollar in our country? ...Let's see if that is the only thing the CBI could do to bring the dollar down is raise the dinar.  They say in coming days.

Militia Man  Saleh, the financial advisor, has talked about the float...a managed float or a mixture of the peg and the float which would be considered flexible...These guys are going to do what they think is the most positive...They're not going to try to hurt the situation.  They're going to try to make themselves successful.

************

Goldman Sends HUGE Warning, Starts Dumping Everything

Atlantis Report:  8-20-2024

The financial world is buzzing with news that has sent shockwaves through Wall Street and beyond.

Goldman Sachs, one of the most influential investment banks globally, has issued a stark warning that has caught the attention of investors, analysts, and financial media.

 This warning isn't just another market forecast; it's accompanied by actionable moves that have raised eyebrows and concerns across the financial sector.

The investment giant is making headlines by offloading a significant portion of its holdings, prompting many to ask: What does this mean for the market, and why now?

Goldman Now Sends Warning That A Collapse Is Coming, Prepare For Huge Market Crash Sell Off

https://www.youtube.com/watch?v=7bkGO7IcEX8

“Tidbits From TNT” Wednesday Morning 8-21-2024

TNT:

Tishwash:  Al-Nujaba: The truce is over and the option of striking American bases in Iraq is now available

The Al-Nujaba Movement - one of the Iraqi factions involved in the so-called "Islamic Resistance in Iraq" - considered on Tuesday that the truce that was aimed at giving the government time to negotiate the withdrawal of US forces from the country has ended, and the options of targeting military bases have become available.

“The resistance factions in Iraq have ended this truce, and therefore all options are available to the resistance forces to target all American bases inside Iraq,” Haider al-Lami, a member of the political council of the al-Nujaba movement, told The National.

Al-Lami considered that there was "procrastination and delay" by America regarding the withdrawal of its forces during the talks with the Iraqi government.

"There will be a response in the coming days that may target more than one place, not necessarily in Iraq, Syria and Israel," added Al-Lami, who warned after the Babylon strike that such a move was under consideration.

He said that some forces will remain in the Kurdistan Region until September 2026 to supervise counter-terrorism operations in Syria. The situation there is different from Iraq, as ISIS is stronger in Syria and has strongholds.  link

************

Reuters: BP's deal with Iraq will be based on profit-sharing model

 An agreement with BP to develop oil and gas fields in Kirkuk will be based on a profit-sharing model, and a final deal is expected by the end of this year, two oil ministry officials told Reuters.

Iraq and BP signed a preliminary agreement this month to develop four oil and gas fields in the Kirkuk region of northern Iraq, an area where BP estimates about nine billion barrels of oil could be extracted.

The two officials said the ministry and BP, which is returning to the region after an absence of about five years, are expected to sign an agreement, the terms of which will not be disclosed, this week under which Iraq will hand over a data package for the four Kirkuk fields and their facilities.

The two officials spoke on condition of anonymity because they were not authorized to speak to the press.

BP has not yet responded to a request for comment.

BP withdrew from the area in late 2019 after a service contract signed in 2013 expired without reaching an agreement to expand the field.  link

************

Tishwash:  An economist places “extortion, bribery and smuggling” as the first causes of the fluctuation of the dollar exchange rate

Today, Tuesday, economic affairs researcher Diaa Al-Mohsen listed the extortion, bribery and smuggling operations carried out by dollar dealers who cannot disclose the sources of their money as the first reasons for the fluctuation of the dollar exchange rate in local markets.

Al-Mohsen explained, “The old authority is still floundering in dealing with the issue of the dollar exchange rate, as all the measures it has taken since it took over the management of the Central Bank hardly touch the real problem that led to these rises , which in one way or another led to a major impact on the economic situation of the Iraqi family.” Noting that, “The Iraqi market depends entirely on securing its needs through imports, which eat up all the revenues obtained from Iraqi oil sales .”

In an interview with (Al-Mada), Al-Mohsen indicated, “There are many reasons for the fluctuation of exchange rates other than the above. Many dealers do not enter dollars for reasons related to the nature of the money they obtain (the national currency). There are those who obtain the Iraqi dinar through bribery, and others who obtain They are subjected to it through blackmail, some of whom trade in drugs and human organs, and many others who cannot disclose the sources of their money nor the ultimate beneficiary of the Sending process abroad, which exposes them to many legal problems and may expose them to penalties according to Iraqi law.” Pointing out, “These people are forced to go to the black market to request the dollar, and thus the exchange rate of the dollar against the Iraqi dinar rises to increase the demand for the dollar. We should also not forget that there are those who smuggle the dollar by tampering with documents for importing goods, and this manipulation occurs at the border crossings, and as a result In the end, the country is the biggest loser, followed by the simple citizen . ”

Regarding the dominance of the dollar, the researcher in economic affairs continued, “There does not seem to be a glimmer of hope on the horizon to get rid of the dominance of the US dollar as long as the bank’s management insists on keeping the Iraqi economy revolving around the US dollar. If there was a real administration working for the benefit of the national economy, it would do everything in its power to do so.” A way to diversify the sources of currencies you deal with, which is what the current administration does not want . “

He continued his speech, "I think that the government should seriously think about revitalizing the economic sectors, especially with the Central Bank of Iraq talking about reserves exceeding 115 billion dollars. It is possible to simplify the procedures for granting loans to project owners who have feasibility studies on the projects that they want to implement and that are in the interest of The Iraqi economy, and grant them soft loans in exchange for the project's guarantee, to reduce the gap between market requirements and imports, and fill this gap by increasing local production to cover the need of the local market and by relying on modern technology with regard to industries, and by relying on modern agricultural techniques with regard to agriculture.” Stressing, “Only here we will have put the Iraqi economy on the right path, and anything other than what we said will be nothing more than plowing into the sea .”

The exchange rate of the dollar in the parallel markets in Iraq has risen again, as the price of the dollar recorded an increase with the closure of the Al-Kifah and Al-Harithiya stock exchanges, reaching 149,300 dinars against 100 dollars, while last Saturday It recorded a decrease with the closure of the Al-Kifah and Al-Harithiya stock exchanges, reaching 149,550 Iraqi dinars against 100 dollars.  link

************

Mot: . Yeppers!! --- yeee ole Net Helps Again!!!! 

Mot:  .... How they Make it Work! – LOL

Seeds of Wisdom RV and Economic Updates Tuesday Evening 8-20-24

Good Evening Dinar Recaps,

Ripple Important Level of Contact with IMF Revealed in Fresh Palau Report

A recently released report on Palau’s National Government Payment Service has revealed a significant level of contact between Ripple and the International Monetary Fund (IMF).

Prominent XRP community member WrathofKahneman (WoK) unearthed this observation and highlighted it in a recent post on X.

Notably, the report from Palau highlighted the successful completion of Phase 2a of the country’s digital payment initiative. For context, this initiative focuses on developing a stablecoin service, “PSC.” Palau is carrying out this project in collaboration with Ripple, utilizing the XRP Ledger (XRPL).

This recently completed phase analyzed stakeholder requirements in six key socioeconomic areas to develop a framework for a convenient and accessible national payment ecosystem, especially for the unbanked and underbanked.

Additionally, the Palau digital payment system seeks to emulate the services of PayPal and Alipay in ways that precisely fit the context of Palau’s needs. 

Its goals are reducing cash reliance, lowering fuel consumption and travel time, and offering lower fees. The report also reviews the pilot program, incorporating feedback and recommendations for a phased nationwide rollout.

Ripple’s Important Level of Contact with IMF

What stands out in this latest report is the inclusion of the IMF Technical Assistance Team among the stakeholders consulted for the project. According to WrathofKahneman, this points to an important level of technical engagement between Ripple and the IMF.

WoK emphasized the significance of this connection, noting that while the XRP community has long been aware of Ripple’s discussions with the IMF, this report serves as tangible evidence of their collaboration on a practical level.

Furthermore, WoK strengthens his argument by pointing out that the IMF’s recommendations align closely with the objectives of Palau’s National Payment System, which Ripple is helping to develop.

The IMF’s focus on enhancing financial resilience, improving payment systems, and carefully approaching fintech innovations mirrors the goals of the Ripple-Palau collaboration.

WoK believes this alignment suggests that Ripple’s involvement is not just incidental but deeply integrated with IMF-led financial strategies in the region, reinforcing the idea of meaningful contact between Ripple and the IMF.

Essentially, this revelation reinforces the idea that Ripple is not just working in isolation but is actively engaging with major global financial institutions like the IMF. 

Such collaborations could pave the way for Ripple to play a more central role in future financial systems, particularly in regions where digital innovation and financial modernization are priorities.

@ Newshounds News™

Source:  The Crypto Basic

~~~~~~~~~

RFK Jr.'s campaign may drop out to support Trump, says running mate Nicole Shanahan

Both candidates have adopted a pro-crypto position; their collaboration could create a powerful narrative in the 2024 election.

Key Takeaways

▪️ Kennedy's campaign is evaluating a potential endorsement of Trump to avoid splitting votes.
▪️ Trump has become a pro-crypto candidate, promising to support the industry.

Pro-crypto presidential candidate Robert F. Kennedy Jr.’s campaign is mulling quitting the election bid and joining forces with Donald Trump, said Nicole Shanahan, Kennedy’s running mate, on Tom Bilyeu’s Impact Theory podcast. Shanahan’s statements were first shared by Collin Rugg, Trending Politics’ co-owner.

Dropping out of the election race is just one of two possible outcomes. Shanahan said Kennedy’s campaign is also considering continuing their third-party bid, but it comes at the risk of splitting votes with Trump, which could benefit Kamala Harris’ campaign.

“There are two options that we’re currently looking at and one is staying in and forming that new party, but we run the risk of a Kamala Harris and Waltz presidency because we draw votes from Trump,” Shanahan stated.

“Or we walk away right now and join forces with Donald Trump,” she noted, adding that it would not be an easy decision and they would need to justify it to their supporters.

According to Politico, Kennedy’s campaign is struggling financially, with $3.9 million in cash and $3.5 million in debt as of July 2024. Despite efforts to boost fundraising, the campaign’s expenditures have consistently outstripped its income.

If Kennedy’s campaign team chooses to collaborate with Trump’s team, that could create a powerful narrative in the 2024 election as both two figures have adopted a pro-crypto stance.

Trump has positioned himself as a pro-crypto candidate, pledging to retain all Bitcoin held by the US government and to ease regulatory pressures on the crypto industry.

Harris’ position on crypto is unclear, though reports indicate that her campaign team has been working to reconnect with the industry in recent weeks.

Despite crypto’s growing popularity, its potential impact on voting behavior remains uncertain. Voters often make decisions heavily influenced by key issues like economic conditions.

Harris has recently faced criticism for her new economic proposals, with figures like former Obama economist Jason Furman questioning the practicality and sensibility of her plans.

Following her speech on these proposals, Harris’ odds of winning the election dropped to 49% on the decentralized prediction marketplace Polymarket, while Trump’s odds saw a corresponding surge to 49%.

@ Newshounds News™

Source:  Crypto Briefing

~~~~~~~~~

Listen and learn from this man. He has facts and shares with us as we all wait. Share with others!

August 21, 2024 12:00 Central Noon, 1 pm ET

Listen Here - Podcast Room https://t.me/+VAm-AlWWqWPzyK8G

Replays - YouTube Currency Facts - YouTube

Directly from Isaac when ask for a bio

“But understand I do not have contacts. Isaac

"I have buyers the us treasury , DOD , Admiral , HSBC several big platforms that I have signed contracts with all and they paid already for the inspection several times" Isaac

See photos of Isaacs bonds here:

https://telegra.ph/Isaacs-Facts-and-Truth-08-03

@ Newshounds News™

~~~~~~~~~

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

Economist’s “News and Views” 8-20-2024

IOU YOU: "Value in Gold, Fraud in Fiat" | Mike Maloney LIVE | Rebel Capitalist Part 2

In this eye-opening video, Mike Maloney delves into the dark truths of the global monetary system under fiat currency.

 Discover how the current system is built on IOUs that sell off your future labor, creating a cycle of debt and economic enslavement.

Learn the stark differences between real money under the gold standard and the modern-day fiat currency that is created out of thin air.

We uncover the fraud behind bank credit creation and how this system devalues your hard-earned money, robbing you and future generations of wealth and freedom.

If you're ready to challenge everything you thought you knew about money, this is a must-watch!

Part 1:  https://www.youtube.com/watch?v=vPsmkMmraAs&t=136s

https://www.youtube.com/watch?v=wfrIxaMTgMQ

Global Crash Ahead?| China & the US Establish Joint Anti-Financial Crisis Group in a Surprise Move

Lena Petrova:  6-20-2024

https://www.youtube.com/watch?v=vmFbvulLsaM

Something BIG IS ABOUT TO HAPPEN... AND ITS EFFECT IS GOING TO BE EXTREME.

Greg Mannarino:  8-20-2024

https://www.youtube.com/watch?v=4Pw2ailQE5A

Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 8-20-24

Good Afternoon Dinar Recaps,

Bank of England to develop analytics data platform for ISO 20022

The Bank of England is working with the BIS Innovation Hub London centre on a project that will explore how technology can enhance the analytical use of ISO 20022 data to shed light on economic conditions, system liquidity and compliance.

The increased use of ISO 20022 standards for payment messages in Real Time Gross Settlement (RTGS) systems means many central banks will adopt the protocol in the coming years. The UK's high value payments system Chaps completed the cutover to the new data standard in June last year.

Project Keystone aims to develop a standardised data analytics platform focused on ISO 20022 data. As part of the project, two modules will be developed.

The first will address the complexities of handling the ISO 20022 data structure and the associated data storage requirements, and the second will provide analysis based on the data.

Keystone is intended to become an off-the-shelf component that payment system operators can integrate into their own systems.

The Bank of England believes that Keystone's support of analytics capabilities could enable payment system operators to utilize the enriched data contained within the ISO 20022 message scheme for greater understanding of economic conditions, system liquidity, and compliance with ISO 20022 standards.

In addition, as Keystone will create a standardised data platform, future users will be able to create and share additional analytics capabilities within the central banking community.

@ Newshounds News™

Source:  FinExtra

~~~~~~~~~

Nigerian tax authority to introduce crypto regulation bill in September: report

The Federal Inland Revenue Service, Nigeria’s tax authority, plans to introduce a bill to regulate the cryptocurrency sector by the end of 2024.

Speaking at a recent stakeholder engagement session with the National Assembly’s Finance Committees, FIRS Executive Chairman Zacch Adedeji said the country is set to propose a bill that would introduce laws to regulate the crypto sector, mitigate the risks involved, and benefit the nation’s economy, according to a Vanguard report.

Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service:

“Today, we cannot run away from cryptocurrency. But as we are here today, there is no law anywhere in Nigeria that regulates cryptocurrency. But it is the new thing that is happening, and we cannot run away from them.”

The new regulation is part of a broader effort to modernize existing laws in the taxation system to keep up with Nigeria‘s evolving economic landscape. Adedeji urged the FIRS’s collaboration with lawmakers to implement the bill, with the first iteration expected to be introduced in September.

@ Newshounds News™

Source:  Crypto News

~~~~~~~~~

Time is NOON CST

Listen Here: Podcast Call Link 

Isaac's Room Link 
Replay YouTube Link

@ Newshounds News™

~~~~~~~~~

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

Thoughts From DJ “Global Equality in Trade”

DJ:  DID YOU KNOW?

It has long been understood that the end game for the GCR is to create equality in global trade. While it sounds good, is it practical? The foundation of our financial systems can shape the future of global trade in ways both expected and unforeseen. The concept of asset-backed currencies—a system where money is directly linked to tangible resources like gold, oil, or other valuable commodities can be debated.

Should the world’s currencies return to being anchored by real assets (GCR), the landscape of global trade would undergo significant transformation, altering everything from international relations to economic stability.

First of all, an asset-backed currency system would impose a new layer of discipline on nations’ monetary policies. Unlike the current fiat currency system, where money can be printed based on economic needs or political agendas, an asset-backed system requires that every unit of currency corresponds to a tangible asset.

This constraint would likely reduce the ability of countries to engage in inflationary practices, leading to more stable global prices. But for trade, this stability could be a double-edged sword. On one hand, reduced currency volatility would lower the risks associated with exchange rates, encouraging more predictable and fairer trade agreements. On the other hand, countries with fewer natural resources or valuable assets could find themselves at a disadvantage, struggling to participate equally in global commerce.

The redistribution of economic power would be another inevitable consequence. Countries rich in valuable resources—such as gold, oil, or rare earth metals—would gain significant influence. These nations would see their currencies strengthened, granting them greater leverage in international trade negotiations.

On the other hand, countries without substantial assets would face the prospect of economic marginalization. (In the context of countries, economic marginalization occurs when nations are unable to compete effectively in the global economy). This could lead to a new era of economic imperialism, where wealthy nations exert more control over poorer ones, not through military might, but through financial superiority.

International trade imbalances would have to be scrutinized more closely. In the current fiat system, countries with trade deficits can borrow money or print more currency to cover the gap. However, in an asset-backed system, this option would be severely restricted.

Nations with persistent trade deficits would have to pay with real assets, potentially depleting their reserves. This could force a radical shift in trade policies, encouraging countries to become more self-sufficient and less reliant on imports, which could, in turn, slow the pace of globalization.

Another significant impact would be the revaluation of global commodities. With currencies tied to physical assets, the demand for these commodities would increase, driving up their prices.

This could trigger a resource race, where countries hoard or aggressively acquire assets to back their currencies. The environmental and geopolitical ramifications could be huge, as nations scramble to secure dwindling resources, possibly leading to conflicts or attempts to increase borders to secure natural resources.

For businesses, an asset-backed currency system would create both challenges and opportunities. On one hand, the stability of asset-backed currencies would reduce risks associated with currency fluctuations, making long-term contracts more predictable. On the other hand, the costs associated with securing and verifying the assets backing each currency could introduce new complexities and expenses into international transactions.

While the idea of returning to an asset-backed currency system might seem like a path to greater economic stability, it would also bring about drastic changes in global trade dynamics. The benefits of reduced currency volatility and inflation control has too be weighed against the potential for increased economic inequality, resource conflicts, and a shift away from global cooperation.

We may not choose to admit it, overall, global trade shapes daily life by determining what individuals can buy, how much they pay, and the job opportunities available to them.

In this race to achieve a GCR, we might want to consider just finishing the race, not how we get there the fastest. The world has old knees, it’s probably a good idea to slow down and walk to the finish line.

There must be something else going on that we just can't see.

DJ

https://www.rumormillnews.com/cgi-bin/forum.cgi?read=245106

More News, Rumors and Opinions Tuesday Afternoon 8-20-2024

TNT:

Tishwash:  "Iraq's bank reserves are excellent".. Parliament: We have sufficient resources to cover any financial crisis regarding salaries - Urgent

The Finance Committee of the House of Representatives confirmed, on Tuesday, that there are sufficient resources to cover any potential shortage in salaries.

Committee member Jamal Kojer said, according to the official newspaper, that "financial matters are under control and the government is fully committed to securing employees' salaries on time without any delay."

He pointed out that "the statements of the Minister of Finance and the Governor of the Central Bank confirm that salaries are fully secured this year, and that there is no fear in this regard."  link 

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Tishwash:  Deputy: The coming months will witness the announcement of the international coalition's exit from Iraq

The representative of the coordination framework, Abdul Amir Al-Mayahi, confirmed on Tuesday that the next few months will witness the official announcement of scheduling the withdrawal of the so-called international coalition from Iraqi territory, pointing out that there is seriousness on the part of the government to resolve this issue and make Iraq free of foreign military presence.

Al-Mayahi told Al-Maalouma Agency, “There are negotiating committees that have reached their final stages regarding scheduling the removal of all foreign forces, or the so-called international coalition, from the military bases within which they are located.”

He added, "The government is serious about scheduling the exit of the aforementioned forces, but the current conditions in the region prevented the announcement of this schedule after it was scheduled to be announced to ensure the exit of the forces from Iraq."

He stated, "The next few months will witness the announcement of scheduling the international coalition's exit from Iraq, through the negotiating committees formed between the two sides, thus ending the foreign military presence inside Iraq."   link

************

Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26   [Iraq boots-on-the-ground report]   FIREFLY: Saleh on TV talking about the possibility of using the dinar instead of the dollar on oil sales.  He's talking about how and why...  FRANK:  Sudani is now sending people on a daily basis out to talk to you...If it's not Saleh talking to you about the monetary reform, it's Alaq reminding you you're going to get purchasing power...Then it's himself that comes out and tell you the project to lift the three zeros is still on the table, we're going to give you purchasing power like we promised you this year...Your purchasing power is coming.

Militia Man   Article quote:  "Central Bank's inability to meet the needs of Iraq dinars which may force an increase in issued monetary mass."  They didn't say dollars, they said the need for dinar.  Why would they need to have dinar?  Remember...they've been bringing in 25k notes because...they're doing electronic.  All that money that comes in gets credited on cards.  They've been absorbing cash... What were they doing in the background?  They were destroying money...They didn't tell you how much money they destroyed...But they're saying they're having a problem with liquidity...a problem...to meet the need for Iraq dinar...They're going to need money to be replaced.  Could that be the new small category notes with more value? ...Why in the world would you go out and destroy a bunch of money... make it into pellets for burning, when you're going to go and create new 25k notes.  Does that make any sense to anybody?  Do you think they built that big, huge massive building...to have more inflation and a cheaper exchange rate less that 1310?  That's what they would be doing...That doesn't make any sense whatsoever. 

************

Travel to new york alaq iqd # iraq

Nader:  8-20-2024

https://www.youtube.com/watch?v=zWGsw8JTdKI

WARNING: Banks Are Preparing for an Imminent Banking Crisis as Property Foreclosures Soar

Lena Petrova:  8-19-2024

https://www.youtube.com/watch?v=K5L_8P9AQJA&t=8s

“Tidbits From TNT” Tuesday 8-20-2024

TNT:

Tishwash:  This is NOT the WTO   

Trade discusses the mechanism for Iraq's accession to the World Trade Points Federation

 The Private Sector Development Department discussed with the Departments of Foreign Economic Relations and Administrative and Financial Affairs at the Ministry of Trade, the mechanism for Iraq's accession to the Federal Union of World Trade Points, the legal procedures for joining, and the benefits that the Iraqi sectors will obtain.

The Director General of the Department, Ibtihal Hashem, stated in a statement: "The meeting discussed an explanation of the union as an international non-profit organization, which was established under Swiss laws in 2000 and is concerned with managing and developing international trade points in order to activate electronic commerce, in addition to its capabilities to provide small and medium-sized companies with commercial information for member states located in developing and least developed countries."

The meeting also discussed the issue of transforming the electronic trade systems currently operating within the international arena in order to raise the export level of the Iraqi private sector and introduce the outside world to the comparative advantage of Iraqi industries.

The union i ncludes more than 74 countries in its membership, including 6 Arab countries.link 

************

Tishwash:  Government Advisor: Al-Alaq's upcoming visit to New York will support the protection and stability of the banking system

 The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Saleh, confirmed on Saturday that the upcoming visit of the Governor of the Central Bank, Ali Al-Alaq, to ​​New York will support the protection and stability of the banking system, while he pointed out that the file of the sanctioned banks requires negotiation due to the possibility of an error or exaggeration in issuing the decision to sanction them.

Saleh said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "the Central Bank is a strategic institution that works to support the value of the dinar and its stability, and to build balances in the Iraqi balance of payments, regularity of payments, and international reserves that support Iraq's foreign trade."

He added, "Due to the rentier nature of the economy, the Central Bank and its reserves have become the feeder and financier of foreign trade for the private sector."

He pointed out that "Iraqi oil sales are in dollars, and are deposited with the US Federal Reserve through an open account in the name of the Central Bank, which is managed by the bank on behalf of the Iraqi government."

He continued, "The upcoming visit of the Governor of the Central Bank, Ali Al-Alaq, to ​​New York City in the United States of America comes to protect the Iraqi banking system and support its stability."

He explained that "the Central Bank, by virtue of its work and responsibility to maintain the financial system of Iraq, must negotiate with the American side regarding the file of the sanctioned banks to alleviate the severity of the deprivation on the banks, as there may be an error or exaggeration that was previously decided to be sanctioned by the American side," stressing that "there is insistence and communication from the Central Bank of Iraq in a good and positive way to protect the Iraqi banking system."

Earlier, the Governor of the Central Bank, Ali Al-Alaq, confirmed in an interview with the Iraqi News Agency (INA), that "there will be meetings held with the Federal Bank and the US Treasury Department at the end of this August to review aspects related to external transfer operations and discuss sanctions on some banks."  link

**************

Tishwash:  Economist identifies weaknesses in banking system: 80% of money supply in citizens’ homes – Urgent

Financial and economic affairs expert Alaa Jaloub Al-Fahd revealed today, Sunday (August 18, 2024), a weakness in the Iraqi banking system, while confirming the presence of 80% of the cash mass in citizens’ homes.

Al-Fahd told Baghdad Today, "The amount of cash liquidity pumped into the local market is estimated at the size of annual government spending, and this includes salaries, wages, and others. It constitutes a large percentage and is considered the citizen's purchasing power."

He added that "the rise in income levels after 2003, due to the increase in salaries, led to an increase in purchasing power, and this led to an increase in the level of demand for real estate and other things," indicating that "the rise in real estate prices has nothing to do with the issue of the increase in the citizen's cash liquidity or not, because this increase is dependent on the issue of supply and demand."

Al-Fahd explained that "any increase or decrease in the volume of liquidity is estimated by the size of real spending and the size of savings, considering that the citizen's income is divided between consumption and savings, and the higher the savings rate, the more it is supposed to be exploited economically through investment."

He pointed out that "there is a weakness in the banking system's ability to absorb all the cash available to citizens, as most of this cash is inside homes, far from banks," noting that "the amount of cash available to citizens in homes is estimated at more than 80% of the issued cash mass, and this constitutes a weakness in the banking system, in withdrawing that mass and investing it."

It is noteworthy that financial expert Saleh Al-Masrafi confirmed on Tuesday (August 6, 2024) that Iraq is among the highest countries in the Middle East in the file of hoarding money, while he diagnosed a grave error in the Iraqi banking system .

The banker said in an interview with Baghdad Today, "The accumulations that have continued for many years have pushed citizens to lose confidence in banks and resort to hoarding money in their homes," indicating that "its percentage reaches 70% of financial liquidity, and these are large numbers that indicate that we are among the highest countries in the Middle East in hoarding money ."

He added that "hoarding money in the financial concept is a grave mistake that will confuse the financial process and reduce the government's ability to provide liquidity to pay salaries," explaining that "resorting to electronic payment is a step in the right direction, but the most important thing is withdrawing liquidity, and there are several ways ."

The banker pointed out that "the recent issuance of treasury bonds is a correct decision, but the media propaganda to create a culture of safe investment in the street is very weak, and this is what creates low rates of dealing with them, even though the interest rates are attractive ."

He stressed the "necessity of seeking to expand the circle of withdrawing liquidity from homes and creating a movement of money that contributes to increasing the recovery of investment and granting government loans, especially with the presence of requests that exceed by 5 times the amount of money allocated for loans in any sector, especially housing."   link

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Tishwash:  It can revive the Iraqi budget.. $14 billion in “losses” due to the halt of Kurdistan’s oil exports

 Oil consultant and expert, Govind Shirwani, revealed today, Monday (August 19, 2024), that the losses from stopping the export of oil from the Kurdistan Region exceeded $14 billion after a year and a half of cessation.

In an interview with Baghdad Today, Sherwani said, “The losses of not exporting the Kurdistan Region’s oil through the Turkish port of Ceyhan exceeded 14 billion dollars, and this is a very large number, and it could have revived the Iraqi budget, which suffers from a lack of liquidity.”

He added, "There are meetings between the Iraqi Ministry of Oil, the Ministry of Natural Resources in the region, and some representatives of foreign companies, but so far there have been no positive indications indicating the resumption of oil exports, but the participation of the three parties in itself is good progress."

Turkey had earlier halted Iraq's exports of 450,000 barrels per day via the oil pipeline that runs from the Kurdistan Region in northern Iraq to the Turkish port of Ceyhan on March 25, 2023.

Turkey's decision to suspend exports came after an arbitration ruling by the International Chamber of Commerce ordered Turkey to pay Baghdad $1.5 billion in compensation for damages caused by the Kurdistan Regional Government exporting oil without permission from the government in Baghdad between 2014 and 2018.

Attempts to restart the pipeline have been delayed by Turkey's presidential election last month and discussions between the Iraqi government's state oil marketing company SOMO and the Kurdistan Regional Government over an export deal that has now been reached.

Among the issues to be resolved is whether Turkey will seek to negotiate the size of the compensation ordered by the International Chamber of Commerce, sources told Reuters earlier.

It also wants outstanding issues in other open arbitration cases to be permanently resolved before it agrees to resume flows, the sources said.

The Kurdistan region is suffering from a cash shortage due to the pipeline shutdown, and Iraqi politicians and Kurdish lawmakers said the region had no choice but to approve the budget, from which it would receive 12.67 percent of the total 198.9 trillion dinars ($153 billion).

The loss in revenue for the Kurdistan Regional Government due to the 80-day oil shutdown amounts to more than $2 billion, according to Reuters calculations based on exports of 375,000 barrels per day, in addition to the historical discount the KRG offers relative to the price of Brent crude.

The pipeline also exported about 75,000 barrels per day of federal crude   link

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Mot:  As the UnHappy Parents Drop off da Kids fer School!!!

Mot:  .. ole Julie is getting Finicky as She Seasons!!