Seeds of Wisdom RV and Economic Updates Sunday Morning 8-25-24

Good Morning Dinar Recaps,

DBS BANK PILOTS BLOCKCHAIN-BASED GOVERNMENT GRANTS

The blockchain-based solution builds on DBS Bank’s participation in Project Orchid, an effort by the Monetary Authority of Singapore to test the benefits of tokenization.

Singapore’s DBS Bank launched a solution that uses blockchain technology to streamline the disbursement of government grants.

DBS Bank announced that in the pilot, it collaborated with Enterprise Singapore (ESG), a statutory board under the Ministry of Trade and Industry of the Government of Singapore and the Singapore Fintech Association (SFA), which promotes financial technology in the country.

DBS Bank Uses Smart Contracts To Disburse Government Grants

During the pilot, the SFA disbursed government grants to 27 members. DBS said that its pilot showed how blockchain-based programmable grants can improve efficiency, enhance governance and allow businesses to have faster access to government grants.

With DBS’ permissioned blockchain, ESG and its intermediaries, like the SFA, can determine the conditions of the programs and govern grant disbursements. According to DBS, this includes disbursements to approved recipients upon fulfilling certain business conditions.

Once the conditions are fulfilled, smart contracts will verify that they are met. After this process, the grants will be disbursed automatically to the beneficiaries.

According to DBS, the solution enhances governance control and reduces the need for intermediaries to manually process cash handling. This allows businesses to receive their cash payouts from the government much faster.

Furthermore, the bank’s permissioned blockchain gives full visibility of the process, giving greater transparency to the organizations involved.

Permissioned blockchains are networks with an access control layer that allows participants only a pre-approved level of authority. Even though they use distributed ledger technology, these blockchains are only partially decentralized.

Results of MAS-led Project Orchid
DBS Bank also noted that the programmable grants pilot applies what the firm has learned from participating in Project Orchid, a digital currency initiative led by the Monetary Authority of Singapore (MAS). The initiative tests the benefits of tokenization with local stakeholders.

DBS Bank also previously collaborated with digital payment provider Ant International on a blockchain-based treasury and liquidity management solution. On Aug. 13, DBS launched its treasury tokens, which Ant will use for liquidity and treasury management. The tokens are within the bank’s Ethereum Virtual Machine (EVM) permissioned blockchain.

The solution was created using systems developed during the company’s participation in another MAS-led effort on digital currencies, Project Guardian.

@ Newshounds News™

Source:  Coin Telegraph

~~~~~~~~~

DEBIT CARDS IN DIGITAL WALLETS Gaining Ground Across Sectors
August 2024

With a growing number of consumers adopting digital wallets, payment preferences have shifted. Debit cards are now the preferred method underpinning digital wallet payments. 

Meanwhile, digital wallets have seen more significant adoption in the retail and grocery sectors. Apple Pay, in particular, has deepened its niche in travel-related transactions, possibly foretelling a broader acceptance of mobile-first, touchless payments. This report explores these trends, how different sectors are adapting to digital wallets and what this all means for businesses.

@ Newshounds News™

Source:  PYMNTS

~~~~~~~~~

PROOF OF INK BY GAVIN WOOD:  THE TATTOO THAT SECURES YOUR WEV3 PRIVACY

The Web3 individuality mechanism will require a unique, algorithmically generated tattoo to prove digital citizenship.

Parity Technologies is launching a Web3 individuality solution, which is a crucial missing element for mainstream Web3 adoption.

The new solution, “Proof-of-Ink,” will enable users to prove their digital individuality in a privacy-preserving manner through a unique tattoo serving as proof of digital citizenship.

Proof-of-Ink is set to launch in the fourth quarter of 2024, according to Gavin Wood, the co-founder of Ethereum, Polkadot and Kusama.

Wood announced during a keynote speech at the Web3 Summit in Berlin:

“We are able to deploy the baseline palette and launch the app at some point this year, hopefully in the final quarter […] We are aiming to launch the other two mechanisms next year.”

While Wood teased that one of the additional two digital identity solutions is further in development, he shared no details about their mechanics.

Mainstream adoption is crucial for any technological paradigm. Experts like Wood hope that Web3 adoption will create a more decentralized and user-centric internet, envisioned as a free public good to help humanity.

@ Newshounds News™

Read more:  Coin Telegraph

~~~~~~~~~

WYOMING Aims to Launch US DOLLAR-BACKED STABLECOINS in 2025

Wyoming is reportedly developing its own U.S. dollar-backed stablecoin to be used for consumer payments.

The state plans to launch the Wyoming Stable Token in the first quarter of 2025, CNBC reported Friday.

“It is clear to me that digital assets are going to have a future,” Wyoming Governor Mark Gordon told CNBC at the Wyoming Blockchain Symposium in Jackson Hole. “The United States has to address this issue. Washington’s being a little bit stodgy, which is why Wyoming, being a nimble and entrepreneurial state, can make a difference.”

Advocates of the project the Wyoming stable token will provide a faster and cheaper way for individuals and businesses to transact, will create a new revenue stream for the state and may serve as a model for a stablecoin at the federal level, according to the report.

Gordon said the stablecoin will be transparent, fully backed by short-term Treasurys and dollar-dependent, per the report.

Wyoming has already been working to create a favorable regulatory environment for crypto, having passed more than 30 pieces of legislation related to that field since 2018, according to the report.

The state is currently vetting potential vendors and partners to provide an exchange, digital wallets and other technology needed for the stable token, per the report.

Wyoming aims to make the stablecoin a payment method for everyday use, Flavia Naves, a commissioner at the Wyoming Stable Token Commission, said in the report.

“When you walk into Cowboy Coffee in Jackson, Wyoming, and you want to buy your latte, there’s going to be their wallet there in Solana that you can use to buy your coffee with the Wyoming token,” Naves said, per the report.

Stablecoins are a type of currency designed to maintain a stable value by pegging their worth to a fiat currency, PYMNTS reported in April. Unlike traditional cryptocurrencies like bitcoin, which are notorious for their price fluctuations, stablecoins offer a level of stability that closely mirrors that of traditional currencies.

On the federal level, U.S. Sen. Kirsten Gillibrand, D-N.Y., and Sen. Cynthia Lummis, R-Wyo., introduced legislation to govern stablecoin use.

@ Newshounds News™

Source:  PYMNTS

~~~~~~~~~

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

More News, Rumors and Opinions Saturday PM 8-24-2024

KTFA:

Clare:  More than 100 tons.. Iraq is the ninth largest buyer of gold in 2024

8/24/2024  Economy

Iraq ranked ninth globally among the top 10 countries buying gold this year. What is meant by gold is converting foreign currency reserves into gold, not the gold of goldsmiths and citizens.

 Iraq bought 100 tons of gold this year, coming in ninth out of the top 10 countries buying gold this year, compared to 1,298 tons bought by Russia, as interest in buying gold is growing amid rising geopolitical tensions and economic fluctuations.

This comes as the precious metal hit an all-time high of $2,531.75 an ounce after breaking above $2,500 for the first time this month amid growing expectations that the Federal Reserve is close to cutting interest rates.

Bullion typically benefits from low interest rates, and central banks hold gold reserves because of its strong collateral, liquidity and yield properties.   LINK

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

Clare:  Iraq and America to resume negotiations on the banking sector next Monday 

8/24/2024  Baghdad

 A delegation from the Central Bank of Iraq is traveling to the United States of America to resume negotiations on the banking sector.

An informed source told Al-Eqtisad News that a delegation from the Central Bank of Iraq will begin negotiations with the American side on August 26 in America. 

He added that the Central Bank has moved towards signing a contract with the international company Oliver Wyman to present a plan on reforming the private banking sector, within the next six months. 

 He pointed out that the proposed plan includes merging some banks or cancelling the licenses of some banks.   LINK

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

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

Frank26   I don't care about the WTO and HCL because it only waits for one thing, the new exchange rate.  The only mechanism that everyone is waiting for is the new exchange rate.  That is the simple fact.  This fact is real because Sudani is constantly reinforcing that idea...by constantly coming out on TV and talking to you [Iraqi citizens] about you're going to get purchasing power.

Militia Man  Article: "Iraq is heading towards printing new paper currency"  They're not going to print new currency in the sense of triple zero notes...There's no reason for it.  They were destroying perfectly good triple zero notes.  They did a video on it...destroying money, making little pellets.  They had a whole show on it.  Why would they be destroying good money?  Granted, if they filmed that they were damaged with ink on them, all these different things, I understand that.  That wasn't the case.  In 2018...they spent tens of millions of dollars on printing new currency... Bottom line is, why would they be printing triple zero notes at a time when inflation is low?  That would create inflation.  The whole idea is not to do that.  Article quote:  "There's no intention to print new paper currency at the central bank..."

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

The cbi is doing good

Nader:  8-24-2024

https://www.youtube.com/watch?v=e-miBnjW51E

Housing Crash WILL BE EXTREME (U.S. ECONOMY in BIG TROUBLE)

Sachs Realty:  8-24-2024

Worst housing crash in history expected, We're in a more dangerous bubble and the U.S. economy is destroyed.

https://www.youtube.com/watch?v=aoKs02HSGk0

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 8-24-24

Good Afternoon Dinar Recaps,

CARDANO DELAYS CHANG HARD FORK TO SEPTEMBER

Cardano delays its Chang hard fork to September 1, ensuring full ecosystem readiness, while exploring a potential groundbreaking AI partnership with Algorand.

Cardano has postponed its much-anticipated Chang hard fork to September 1, moving the date from August 27. 

This delay allows more time for exchanges and decentralized applications (DApps) to prepare. The decision, announced on August 23 by Intersect, a Cardano membership organization, ensures the ecosystem is fully ready for this crucial upgrade.

The Chang hard fork is a critical milestone in Cardano's journey toward the Voltaire era, which will bring enhanced community governance and smart contract capabilities. The delay emphasizes the importance of being fully prepared to avoid any disruptions during this major transition.

This hard fork is significant not just for its technical upgrades but also for how it involves the community in decision-making. Intersect highlighted that it's the first time such a wide range of community members and engineers have been involved in the process.

This marks a shift in how decisions are made within the Cardano ecosystem, with more emphasis on community participation and on-chain governance.

Charles Hoskinson, Cardano's founder, provided further insight into the delay. He revealed that some exchanges, particularly Binance, were not yet ready for the upgrade.

Hoskinson compared the situation to a rocket waiting for the weather to improve before launch, indicating that everything must be perfectly aligned for the hard fork to proceed smoothly.

The Chang hard fork is a key step in Cardano's roadmap, especially as the network moves towards the Voltaire era. 

This era will enhance Cardano's governance model, allowing token holders to be more involved in decision-making. The upgrade will also improve data security and expand smart contract functionalities, making it a pivotal development for the network.

While preparing for the Chang hard fork, Hoskinson is also exploring a possible partnership with Algorand, a competing blockchain network. This potential collaboration could create a "decentralized AI powerhouse," combining Algorand's technology with a proof of work system optimized for AI. Hoskinson believes this partnership could push the boundaries of decentralized AI and revolutionize the industry.

The idea of a Cardano-Algorand partnership has sparked interest in the blockchain community. Gary Malouf, Algorand's Chief Technology Officer, expressed interest in discussing the possibilities further.

This potential partnership could lead to significant developments in the blockchain space, as both networks continue to evolve and expand their technological capabilities.

Algorand, founded in 2017 by MIT professor Silvio Micali, has positioned itself as a leading Layer-1 blockchain network. Despite controversies over its advertisements criticizing rival networks like Bitcoin and Ethereum, the potential collaboration with Cardano could open new avenues for innovation and collaboration in the blockchain industry.

In summary, the delay of the Chang hard fork to September 1 allows Cardano to fully prepare for this critical upgrade.

At the same time, the potential partnership with Algorand could lead to groundbreaking advancements in decentralized AI, marking an important moment in the blockchain industry's evolution.

@ Newshounds News™

Source:  Coin Paprika

~~~~~~~~~

IOTA Set for MEXC LISTING IN ASSESSMENT ZONE: USDT Trading Pair Goes Live

IOTA is set to be listed in the Assessment Zone of the MEXC exchange after recommendations from community users.

Recently, IOTA announced that it has completed the final phase of the European Blockchain Pre-Commercial Procurement.

The exchange of high-performance and mega transaction matching technology MEXC has announced the IOTA (IOTA) listing in its Assessment Zone.

According to the official blog post, this groundbreaking move would be a gateway for the commencement of open trading for the IOTA/USDT trading pair. Trading start time, August 23, 2024, at 12:00 (UTC).

@ Newshounds News™

Read more:     Crypto News Flash

~~~~~~~~~

RUSSIA PLANS TO PEG CHINA'S YUAN TO IT'S NEW STABLECOIN

According to a Kommersant source, Russia has revealed plans to launch two State-linked crypto exchanges to incorporate digital payments for trade settlements. The two crypto exchanges will operate in Moscow and St. Petersburg.

Russia gets deeper into decentralized finance

Russia, the heavyweight nation behind BRICS, plans to launch a new stablecoin linked to the Chinese yuan. Since the war broke out between Russia and Ukraine, the US sanctions have forced Russia to find alternative payment methods to keep its economy afloat.

Russia intends to link the Chinese yuan to the new crypto-based stablecoin at a 1:1 ratio. This guarantees that the coin’s price remains consistent and without volatility, making it reasonably safe for carrying out transactions without fear of price fluctuations.

The plan is that the Russian ruble and the Chinese yuan will profit the most when trade is handled using the new payment mechanism, finally achieving their de-dollarization agenda. The US dollar will play no role in the payment system, allowing local currencies to take a large proportion of settlements.

Russia’s launch of the crypto exchanges has “The goal is to support foreign economic activity (FEA).” According to lawyers and analysts, they will most likely be created in an experimental legal regime.

@ Newshounds News™

Source:  CryptoNewsz

~~~~~~~~~

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

“Tidbits From TNT” Saturday 8-24-2024

TNT:

Tishwash:  Iraq and America to resume negotiations on the banking sector next Monday

A delegation from the Central Bank of Iraq is traveling to the United States of America to resume negotiations on the banking sector.

An informed source told Al-Eqtisad News that a delegation from the Central Bank of Iraq will begin negotiations with the American side on August 26 in America. 

He added that the Central Bank has moved towards signing a contract with the international company Oliver Wyman to present a plan on reforming the private banking sector, within the next six months. 

He pointed out that the proposed plan includes merging some banks or cancelling the licenses of some banks.   link

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

Tishwash:  A parliamentary invitation to host the responsible authorities to find out the reason for the rise in the price of the dollar

Today, Saturday, independent MP Jawad Al-Yassari called on the Presidency of Parliament to host the relevant authorities to find out the government's measures regarding the dollar crisis. 

The leftist told the Maalouma Agency, “The rise in the exchange rate of the dollar against the Iraqi dinar is still ongoing in an unprecedented manner, stressing the need to determine the causes of this crisis and its clear negative impact on the economic and social conditions in the country.”

He added, "A number of independent representatives had previously called on the Presidency of the House of Representatives to host the relevant authorities to learn about the government's measures regarding the dollar crisis." 

He pointed out that "the slow financial measures taken by the government would cause additional damage."

He stressed the need to "develop quick solutions and stop the rise in dollar prices in local markets." link

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

Tishwash:  Al-Marsoumi expects a "tragic and exciting chapter" after "hidden hands" tamper with budget tables figures

 Economic expert Nabil Al-Marsoumi revealed, today, Saturday (August 24, 2024), what he called hidden hands that tampered with and changed the numbers of the budget tables in its paper and electronic versions.

Al-Marsoumi said in a post on the Facebook platform, followed by Baghdad Today, that "the Presidency of the Republic has not approved the 2024 budget tables and they have not yet been published in the Iraqi Gazette, despite the parliament voting on them about two months ago," indicating that "the reason for this is the hidden hand that tampered with and changed the numbers of the tables in the paper and electronic versions and added 15 trillion dinars to them."

He added, "After the two letters sent by the Prime Minister's Office to the House of Representatives to investigate this issue, and after the complaint submitted by MP Basem Khashan to the Federal Court, it seems that there is an exciting tragic chapter that we will witness in the coming days."

Acting Speaker of Parliament Mohsen Al-Mandalawi confirmed on Wednesday (August 21, 2024) that the budget tables voted on by the Council are the same as those sent by the Council of Ministers.

According to documents issued by the director of Al-Mandlawi’s office, received by “Baghdad Today”, “the budget tables voted on by the House of Representatives are the same ones sent by the Council of Ministers and returned to it, according to Parliamentary Resolution No. 64, without any amendment, and the aforementioned tables are the same ones that were sent after approval to the government.”

It is worth noting that the member of the Parliamentary Finance Committee, Moeen Al-Kazemi, revealed on Wednesday (June 26, 2024), that an appeal was filed by a member of the Legal Committee in Parliament, against the approval of the 2024 budget schedules.

Al-Kadhimi told Baghdad Today that the appeal was submitted "on the grounds that the numbers included in the budget items will change, and thus this is considered a change to the law and requires the enactment of a new law with a first and second reading, and final approval."

He pointed out that "another objection is to changing the financing of oil producing companies from self-financing to central financing, and this matter is considered another piece of legislation that cannot be included in the budget tables."

Al-Kadhimi pointed out that "the Federal Supreme Court referred this lawsuit to the Presidency of the Council of Representatives and requested an answer within 15 days."

On June 3, 2024, the House of Representatives voted on the tables of the Federal General Budget Law No. 2024, amended (13) for the year and its attachments, Tables (A/B/C/D/E and F  link

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

Mot:  ..... More ""Marital Training!!! – siiggghhhhh 

Mot:  Earl is Soooooo Wise!!!!

News, Rumors and Opinions Saturday AM 8-24-2024

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 Sat. 24 Aug. 2024

Compiled Sat. 24 Aug. 2024 12:01 am EST by Judy Byington

Judy Note: As the Global Financial System continued to collapse, Deep State Cabal Elites were expected to destroy power grids Worldwide in an effort to prevent a complete financial meltdown of their bankrupt system only shakily held up with fiat monies.

Don’t worry. A Worldwide Blackout would only give reason for the Global Military Alliance to activate their Emergency Broadcast System (EBS); switch to Tesla Free Energy across the Globe and implement the gold/asset – backed Global Quantum Financial System that backed GESARA/ NESARA while destroying the Deep State Cabal Banker’s control over our money they have held since 1913.

With GESARA’s wealth distributed to everyone willing to work, there will be no more poverty, while homelessness will be unknown. People of 3rd World Nations will be incentivized by GESARA funds to return home to build up their own countries. Those sovereign governments will be 10% of their present size, with honest officials placed in office through fraud free elections.

The transition from Nuclear Energy to Quantum Energy will create new industries and businesses, plus the emergence of the Quantum Network will revolutionize the way we can safely and privately connect with each other.

Med Beds will assure no more drugs, addictions, illness or disease of any kind.

The large corporations manned by the Global Elite Cabal that have been poisoning our air, water and food will be dead broke, their CEOs incarcerated. With redemption of Zim Bonds by the General Public, the most comprehensive funding of Humanitarian programs in Earth’s history was underway and carefully designed toclean up the air, water and planet.

People will be incentivized to grow their own healthy food in off grid homes that produced their own energy and water, thus The People would no longer be forced to adhere to unreasonable regulations and the loss of freedom that goes with living in crowded communities.

The People’s Common Law Courts and Justice will assure Freedom for all on Planet Earth.

We are on the brink of a meticulously engineered catastrophe, orchestrated by the global elite to strip away our freedoms and plunge us into chaos. But what the elites fail to grasp is that this engineered Black Swan event will be their undoing.

As the old world crumbles, a new era will rise from the ruins. The stock market, cryptocurrencies, and the power grid—everything used to control us—is about to implode, signaling the dawn of a revolutionary transformation.

~~~~~~~~~~~

The Black Swan Event: The Final Gambit.

This Black Swan event isn’t a random catastrophe; it’s the final, desperate move of a corrupt system nearing collapse. The financial structure that has enslaved us for decades is set to be obliterated, bringing down the power of the global elite.

The financial bubble they’ve inflated is about to burst, leading to a stock market crash, cryptocurrency wipeout, and global economic chaos. They believe they can control this collapse and engineer a reset on their terms, but they are gravely mistaken. This collapse will be their downfall.

~~~~~~~~~~~~~~

The Blackout: The Elites’ Desperate Move

As the financial system collapses, the elites will make their final, desperate move: a deliberate blackout. This power grid shutdown will be a calculated act to plunge the world into darkness and fear, aiming to prevent a complete financial meltdown and keep us subdued.

But this blackout is also the trigger for a massive change. It will activate the Emergency Broadcast System (EBS), signaling the end of the old financial order and the birth of the Quantum Financial System (QFS), designed to liberate us from elite control.

~~~~~~~~~~~~~

The Emergency Broadcast System: Catalyst for Change

The recent EBS test was more than a drill—it was a rehearsal for the upcoming financial reset. When the blackout occurs and the EBS activates, it will mark the end of the old world and the rise of a new financial order, powered by QFS, GESARA (Global Economic Security and Reformation Act), and NESARA (National Economic Security and Reformation Act).

~~~~~~~~~~~~

The Quantum Financial System: A New Dawn

The QFS is not just a new financial system; it is a revolutionary, decentralized, and incorruptible system powered by quantum technology. It will ensure fair wealth distribution and dismantle the power of the global elites, ending their long reign of financial tyranny.

This system will be immune to the corruption and manipulation of the old order, rendering it obsolete. The impending blackout will act as a catalyst for this transformation, making way for the QFS to usher in an era of freedom and prosperity.

~~~~~~~~~~~~

The Fall of the Elites: A New Era Begins

The Black Swan Event will mark the end of the global elite’s dominance. The stock market crash, blackout and EBS activation are all part of a grand plan to liberate us from their control. The old world is collapsing, and the elites’ attempt to maintain their power will fail.

When the lights come back on, a new world will emerge. The QFS will replace the old systems, GESARA and NESARA will reshape our financial landscape, and the power of the global elites will be shattered. The age of financial tyranny is ending, and a new era of freedom and prosperity is about to begin.

Prepare now, for once the lights go out, there will be no turning back. The old world is dead; the new era has begun.

~~~~~~~~~~~~~

Judy Note: With Intel on the GCR almost none existent, it is my opinion that, as Head of the Redemption Committee Dr. Charlie Ward has repeatedly stated, Tier4b would not be sent notification to set exchange/ redemption appointments until after a Global Financial Crash.

Read full post here:  https://dinarchronicles.com/2024/08/24/restored-republic-via-a-gcr-update-as-of-august-24-2024/

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

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

Frank26  We found out the 3 zero notes are going to coexist with the lower notes for 10 years.  Do you understand the power behind that?  That means we're going to be able to participate in not only the float but the Real Effective Exchange Rate (REER).

Militia Man    We've been here for what...20 years, right?  ...The Truth is today it's not the same.  Nothing 20 years ago has anything to do with today.  You might just hang your hat, chill out and get back on board and pay attention...

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

Gerald Celente: I’m Buying More Gold, Your Money Will be Seized As Economy Collapses

Daniela Cambone:  8-23-2024

Does Gerald Celente think the Gold is in Fort Knox and where does he see it headed? “Gold could soar to $3,000 an ounce this year,” predicts the legendary trend forecaster and publisher of the Trends Journal.

In a no-nonsense interview with Daniela Cambone, he breaks down why it’s not complicated: When interest rates drop, the dollar tanks—and that sends gold prices soaring.

 "It’s not rocket science," he says. Celente goes even further, exposing why today’s economy is a fragile house of cards waiting to collapse.

 He also dives into the looming presidential elections, the harsh reality behind inflation, and why the average American is struggling more than ever.

Don’t miss his bold predictions and insights in this explosive conversation.

https://www.youtube.com/watch?v=AMO89HrVuxo

Seeds of Wisdom RV and Economic Updates Saturday Morning 8-24-24

Good Morning Dinar Recaps,

SWISS NATIONAL BANK announces launch of instant payments in Switzerland

The Swiss National Bank (SNB) has announced the market launch of instant payments in Switzerland.

The introduction of instant payments has been enabled by a technical framework established in November 2023 in partnership with SIX Interbank Clearing.

Around 60 Swiss financial institutions can now receive and process instant payments, encompassing more than 95% of Swiss retail payment transactions.

The SNB says that some institutions have “already launched retail offerings enabling customers to send instant payments”, with more banks expected to announce similar services “in the coming months”.

The central bank predicts that “all financial institutions active in retail payment transactions will be reachable” by the end of 2026 “at the latest”.

@ Newshounds News™

Read more:  FinTech Futures

~~~~~~~~~

85 BILLIONS XRP TRADE MONTHLY ON CASH MARKETS

XRP witnesses significant trading volume on cash markets, with over 85 billion tokens traded by market participants every month.

Recall that American derivatives firm Bitnomial recently unveiled its plans to launch XRP/USD Futures contracts. This move has been described as a crucial step toward the potential future launch of a spot XRP ETF by an asset manager in the United States.

However, amid the excitement, Australian-based pro-crypto attorney Bill Morgan highlighted some important data from Bitnomial’s submission to the Commodity Futures Trading Commission (CFTC), including XRP’s impressive monthly trading volume.

XRP Trade Volume

One of the most striking details revealed by Bitnomial is that over 85 billion XRP tokens are traded on cash markets every month. Data from CoinMarketCap confirms this claim, with XRP’s trading volume averaging $1.6 billion daily over the past few weeks.

Notably, this figure sees occasional spikes during periods of heightened trading activity and price surges. For instance, earlier this month, XRP’s daily volume crossed $5 billion amid the price increase triggered by the final ruling in the SEC v. Ripple case, with South Korean exchanges accounting for most of the figure.

Also, XRP witnessed a surge in trade volume last July following the declaration by Judge Analisa Torres that it is not a security in the summary judgment ruling. Remarkably, XRP’s volume hit $10.4 billion, but this figure was merely the 76th highest in XRP’s history.

Meanwhile, Attorney Morgan also pointed out that Bitnomial’s proposal includes a spot month position limit of 300 million XRP, equivalent to about 0.049% of the total supply.

He stressed that this position limit is notable because it closely mirrors the amount Ripple releases from its monthly escrow, which is often a point of contention among critics who argue that these releases negatively impact XRP’s price.

Ample Regulatory Compliance

Bill Morgan also pointed out that Bitnomial’s filing with the CFTC includes a U.S. clearinghouse license, ensuring compliance with regulatory standards. This addresses concerns about market manipulation and the protection of participants. Bitnomial obtained a clearinghouse license from the CFTC last December.

Moreover, the July 2023 summary judgment ruling in Ripple vs. SEC lawsuit, in which the court ruled that XRP is not a security in itself, has bolstered confidence in XRP’s regulatory standing.

This ruling, combined with Bitnomial’s CFTC-approved futures contracts, could further legitimize XRP in the eyes of regulators and investors, potentially accelerating the timeline for a spot ETF launch.

The introduction of XRP/USD Futures by Bitnomial is also about paving the way for a spot XRP ETF. Futures contracts are often a precursor to spot ETFs because they provide a regulated framework and pricing mechanism that can be used as a reference by potential ETF issuers.

@ Newshounds News™

Source:  The Crypto Basic

~~~~~~~~~

CHINA SUPREME COURT revises Anti-Money Laundering law to include ‘virtual assets’

The Supreme People’s Procuratorate said the number of people prosecuted for money laundering has risen 20-fold since 2019.

China’s supreme court and public prosecutor have revised their interpretation of the country’s Anti-Money Laundering (AML) laws to recognize “virtual asset” transactions for the first time.

The country adopted its existing AML law on Jan. 1, 2007, making the latest revision its first significant update in almost two decades.

In an Aug. 19 conference, the Supreme People’s Court and the Supreme People’s Procuratorate said under their new interpretation of the law, “virtual asset” transactions are now listed as one of the recognized money laundering methods.

It comes amid recent speculation on X that the country could be looking to unban crypto soon — though many are skeptical about it.

According to the courts, the transfer and conversion of criminal proceeds through digital transactions will now be covered under regulations that prohibit “covering up and concealing the source and nature of criminal proceeds and their benefits by other means.”

@ Newshounds News™

Read more:  Coin Telegraph

~~~~~~~~~

CAMBODIA LAUNCHES BAKONG TOURIST DLT PAYMENT APP

The National Bank of Cambodia has already achieved enormous success with its Bakong digital payment app that uses DLT. There are more than ten million wallets out of a population of 17 million. Now it has soft-launched an app for Cambodian tourists.

Beyond the Bakong tourist app, a key goal of Bakong is to encourage greater usage of the local riel currency. Around 80% of all local transactions are in U.S. dollars versus less than 60% via Bakong. The Bakong tourist app only supports QR code payments in riel.

Today most tourists use a mix of cards and cash, often locally available U.S. dollar notes, which are rather damaged. Credit cards are accepted at 55,000 outlets compared to 3.3 million locations that support the KHQR codes used in Bakong, including small stalls.

Tourists can download the app and register via email. Currently they have to top up at banks and hotels, with the ability to enter card details via the app coming soon.

With this level of identity verification, tourists can spend the equivalent of up to $1,000 a day, with a $3,000 limit after verifying their identity in person. The Post implied that hotels and travel agents can perform the verification with a passport ID check.

On departure, the remaining balance can be converted at a bank, given to a local charity, or used at other tourist destinations in Thailand, Laos, Vietnam and other jurisdictions. We’d observe that using Bakong overseas will be subject to a foreign exchange spread at the very least. However, these countries also top the list for foreign arrivals into Cambodia.

Additional integrations with Malaysia and South Korea are meant to go live in the next couple of months. The central bank has also inked collaborations with China, India, Singapore and Japan for cross border payments. Japan’s Soramitsu is the technology provider for Bakong.

While many treat Bakong as a CBDC, it’s not. In fact, it’s a tokenized deposit solution designed by the central bank.

Bakong tourist app benefits

There are several benefits of the Bakong tourist app. The stated goal of local currency usage means the banks and central bank effectively get foreign currency, while traders get more local currency. Other than that, the central bank mentioned the convenience for tourists and the avoidance of tatty dollar notes.

We see a few additional benefits. For the 55,000 outlets that support cards, it can save them expensive merchant fees charged by Western credit cards. For the central bank, it helps to provide greater visibility into economic activity with tourism making up more than 18% of GDP in 2019.

A simple survey at airport departures can help it get a sense of the ratio of tourists that use the app. Otherwise, with a large proportion of cash transactions, it’s hard to see what’s really happening in the economy.

The data could potentially be used for tax purposes, but as soon as that happens, Bakong usage could decline. Getting a picture of economic activity is a big win on its own.

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

NDIA's CRYPTO FUTURE hinges on gov’t consultation paper

India’s Department of Economic Affairs’ consultation paper is expected to be a watershed moment for crypto regulation in the country, potentially setting the stage for future legislation.

India’s cryptocurrency landscape could be about to change as the Department of Economic Affairs (DEA) prepares a key consultation paper on cryptocurrency legislation.

According to local media, the paper, which is expected in September or October, will invite feedback from various stakeholders, with the government playing an active role in the direction of digital currencies in India.

India’s crypto conundrum

The paper, led by a panel chaired by the secretary of the DEA, represents a significant step in India’s ongoing effort to balance innovation and regulation in its rapidly evolving crypto sector.

The release comes at a time when global scrutiny of cryptocurrencies is intensifying, particularly in light of the G20 nations’ unified approach to regulation, as highlighted by Indian Finance Minister Nirmala Sitharaman at a meeting of the group of nations in October 2023.

India, which has already implemented a stringent tax regime on cryptocurrency transactions, has taken a cautious approach to regulation. The 30% tax on unrealized crypto gains and a 1% tax deducted at source implemented in April 2022 marked the government’s first major move toward imposing some control over the crypto market.

However, despite the measures, the Indian government has refrained from regulating the sale and purchase of cryptocurrencies, focusing instead on curbing crypto-related money laundering and terrorism financing.

DEA paper to address regulatory concerns

The DEA’s forthcoming paper is expected to address the broader concerns surrounding the regulation of crypto assets, including those raised by the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI).

In May, SEBI suggested a multi-regulatory approach, wherein different aspects of cryptocurrency trading would be overseen by various financial authorities. This fragmented approach underscores the complexity of regulating a technology that crosses traditional financial boundaries and poses unique challenges.

On the other hand, the RBI has consistently warned of the macroeconomic risks posed by digital currencies. The central bank’s stance reflects deep concerns about the potential impact of cryptocurrencies on India’s economic stability.

This caution is mirrored in the government’s recent actions against offshore crypto platforms and digital asset service providers, including a high-profile ban on Binance, the world’s largest cryptocurrency exchange.

Despite this, Binance managed to reestablish its presence in India by registering with the Financial Intelligence Unit, even as it faces a hefty $86 million tax demand from Indian authorities.

@ Newshounds News™

Read more:  Coin Telegraph

~~~~~~~~~

Newshound's Daily Breakdown 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

More News, Rumors and Opinions Friday PM 8-23-2024

TNT:

Tishwash:  Al-Sudani extends an official invitation to the Iranian President to visit Iraq

Iraqi Prime Minister Muhammad Shiaa Al-Sudani sent an official invitation to Iranian President Masoud Pezeshkian to visit Iraq.

In a phone call with his Iranian counterpart, Iraqi Foreign Minister Fuad Hussein conveyed the Sudanese invitation to Pezeshkian to visit the capital, Baghdad, according to what the Iranian Foreign Ministry announced in a report issued by it.

In a phone call yesterday, Thursday, Hussein congratulated Abbas Araghchi on his election as the new Minister of Foreign Affairs in Iran.

The Iraqi Foreign Minister expressed his hope that the countries Iraq and Iran would continue to cooperate and interact closely on various issues related to bilateral relations and important regional and international issues.

In turn, Iranian Foreign Minister Abbas Araqchi stressed the “special” effort made by the new Iranian government and its president, Pezeshkian, to comprehensively expand and deepen relations between the two neighboring and Muslim countries, and thanked the Iraqi Prime Minister’s invitation for President Pezeshkian to visit Baghdad and welcomed it.  link

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

Al-Alaq in New York at the end of August.. Will he succeed in lifting the  ban on the sanctioned Iraqi banks?

Washington has sanctioned 32 banks over suspicions of money laundering and smuggling to Iran

The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, intends to visit the US capital, Washington, at the end of this month to discuss lifting the ban on Iraqi banks sanctioned by the US Treasury Department, as well as enhancing bilateral cooperation between the monetary institution in Iraq and the US Federal Reserve.

Al-Alaq's visit to Washington comes at a time when the gap between the official and black market rates for exchanging the dollar against the dinar continues, despite the measures taken by the Central Bank of Iraq over the past months, which it says "contributed to limiting its rise to double," but it is not known whether the visit will witness success in lifting the ban or stabilizing the exchange rate.

 "double penalties" 

 The head of the Parliamentary Finance Committee, Atwan Al-Atwani, had previously confirmed that the fluctuation of the dollar exchange rate creates a state of economic and financial instability, especially with the widening gap between the official selling price of the dollar and the parallel market price. 

Al-Atwani said in a statement on the sidelines of his chairing of the committee meeting that hosted the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, to ​​discuss the monetary policy file in the country, that "the widening gap between the official selling price of the dollar and the parallel market price creates a state of economic and financial instability."

 He stressed that "the stability of the exchange rate is a central issue for the state, as there is a duality in the issue of imposing US sanctions between Iraqi banks and correspondent banks, which requires the management of the Central Bank of Iraq to move effectively and address this crisis, in addition to tightening control over the work of private banks, in a way that ensures the integrity of all their procedures and work."

 Visit to protect the Iraqi banking system

In contrast, the financial advisor to the Iraqi Prime Minister, Mazhar Mohammed Salih, said, “Historically, Iraq has kept its oil receipts account at the Federal Reserve Bank in New York, based on a previous UN Security Council Resolution No. 1483 in May 2003, in addition to the foreign currency reserve account in dollars.”

The US Federal Reserve is the main source of the dollar, meeting Iraq's foreign trade financing needs and facilitating payments for international exchange between our country and the world, according to Saleh.

He continued in his statement to Al-Jabal: "Thus, the upcoming visit of the Governor of the Central Bank of Iraq, Ali Al-Alaq, to ​​New York City, USA, comes to protect the Iraqi banking system and support its stability after 32 banks were banned from dealing in the dollar currency by the monetary authority in the United States for unknown reasons."

He added: "The Central Bank of Iraq, by virtue of its work and responsibility in maintaining the stability of the financial system of Iraq, must negotiate with the American side regarding the issue of banks that are sanctioned or deprived of the dollar to alleviate the severity of the deprivation in a way that enhances the effectiveness of the banking system in supporting development and economic activity," noting that relations between Iraq and the United States are outlined by "the strategic framework agreement signed between the two countries in 2008 and are directed towards many axes that aim to sustain relations between the two parties and strengthen them for the benefit of our country, and that the economic axis and financial and banking cooperation is one of those axes that aim to deepen bilateral relations between the two parties."

Banking sanctions 'no longer justified'

In turn, financial researcher Bassam Raad explained that the upcoming visit of the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, to ​​Washington has “positive effects and aims to achieve Iraq’s financial interests and obtain technical support in the banking field to ensure the success of the monetary policy plan by relying on authorized banks as correspondent banks in foreign transfer operations,” noting that the visit aims “to maintain a bilateral dialogue on possible measures for the purpose of lifting sanctions by the US Treasury Department on banks banned from dealing in the US dollar.”

He stressed in his statement to Al-Jabal that the banks that are banned from dealing in foreign currency (dollars) are currently committed to international standards for combating money laundering and are working to take due care in financial transactions, noting that accordingly, “the sanctions are unjustified, especially after the Middle East and North Africa Financial Action Task Force (MENAFATF) confirmed in May of this year that Iraq is one of the countries committed to the recommendations in the field of combating money laundering and terrorist financing.”  link

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

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

Frank26  [Iraq boots-on-the-ground report]  FIREFLY:
Mr Sammy [his Iraqi bank friend] said we're going to get massive purchasing power.  But others outside of Iraq, they will make millions.  FRANK:  I know it forwards and backwards, in fact I dream about it!  I know the process.

Militia Man  The non-oil sector is going to be equal to or superior to Iraq's oil income.  It's just the way it is.  They have so much wealth in this country and there's going to be so much demand for the dinar..It's going to be a massive change to this country.  The Development Road Project is massive... [it's] fully underway...It's evidence they're taking
Iraq international.  It's not stopping.

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

MASSIVE WEALTH TRANSFER IS ABOUT TO HAPPEN! THE FED. IS OPENING UP THE FLOODGATES.

Greg Mannarino:  8-23-2024

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

Federal Reserve Chair Jerome Powell on Rate Cuts: ‘The Time Has Come & Direction Is Clear’

Kitco News:  8-23-2024

Federal Reserve Chair Jerome Powell gave his annual speech at the Jackson Hole Symposium 2024. “The time has come for policy to adjust,” said Powell, emphasizing that the timing and pace of rate cuts “will depend on incoming data, the evolving outlook, and the balance of risks.”

He also noted that the Fed does not seek further cooling in the labor market conditions, given his confidence that inflation is on a sustainable path back to 2%.

Powell admitted that the past four years tested the limits of their knowledge, adding that they are open to criticism and new ideas. This clip offers highlights from Powell’s speech.

https://www.youtube.com/watch?v=raChvmmj3YM

Seeds of Wisdom RV and Economic Updates Friday Afternoon 8-23-24

Good Afternoon Dinar Recaps,

Fed Chair Jerome Powell: Time Has Come for Policy to Adjust

Bitcoin rose in the immediate aftermath of his remarks at the Fed's Jackson Hole conference.

As expected, Jerome Powell indicated that a rate cut is coming in September

Bitcoin and traditional markets at least initially have moved sharply higher
Investors will now focus on whether the initial rate cut will be 25 or 50 basis points

After a long wait, central bank rates in the U.S. now appear certain to be headed lower in September after Jerome Powell said the "time has come" for an easing in monetary policy.

"My confidence has grown that inflation is on a sustainable path back to 2 percent," said Powell in his keynote address at the Kansas City Fed Jackson Hole Symposium.

 "The labor market has cooled considerably from its formerly overheated state," he continued. "We do not seek or welcome further cooling in labor market conditions."

"The time has come for policy to adjust," added Powell. "The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks."

Though markets fully expected Powell to indicate that a rate cut was coming at the Fed's September meeting, the tone of his remarks likely leaned a bit more dovish than anticipated. In the minutes following the release of his speech, bitcoin (BTC) added more than 1% to $61,900.

A check of traditional markets finds big gains as well: The Nasdaq is higher by 1.7%, while the S&P 500 is up 1.2% and gold has climbed 1%. The 10-year Treasury yield has dipped five basis points to 3.80% and the U.S. dollar index has fallen 0.6%.

After years of near-zero Fed policy rates, the U.S. central bank in early 2022 embarked on a long series of rate hikes, eventually taking its fed funds rate up to the 5.25%-5.50% range in 2023.

Since, it's been a waiting game, with the Fed wanting to see crystal clear signs that inflation was meaningfully slowing to its 2% target before moving to begin trimming rates. That day surely has now arrived.

The question going forward will be if the Fed cuts the fed funds rate by 25 or 50 basis points at its mid-September meeting. Markets continue to lean towards 25 basis points, but the chances of a 50 basis point move have grown to 32.5% currently from 24% one day ago, according to CME FedWatch. There remain some key economic reports between now and that September decision – August's employment and inflation numbers among them – which should be key to Fed's ultimate decision.

@ Newshounds News™

Souece:  CoinDesk

~~~~~~~~~

U.S. sanctions over 400 entities and individuals for aiding Russia’s war effort, including Chinese firms

U.S. officials have repeatedly warned China about its support for Russia’s defense industry and have issued numerous sanctions aimed at restricting Moscow’s access to critical technologies.

The latest measures target companies in China involved in shipping machine tools and microelectronics to Russia, as highlighted in a State Department fact sheet covering sanctions against 190 entities. The Treasury Department imposed additional sanctions as part of this broader effort.

Sanctions were also aimed at stifling Russia’s energy sector, with actions taken against firms in Turkey, the United Arab Emirates (UAE), and Central Asian nations believed to be assisting Russia in evading existing sanctions.

“Today’s actions hit Russia where it hurts – degrading its ability to generate revenue through its energy projects and disrupting its acquisition of material to supply its war machine,” said Aaron Forsberg, director for economic sanctions policy at the State Department.

The sanctions come as the war in Ukraine escalates, following Ukraine’s August 6 military offensive in Russia’s Kursk region. Despite some recent successes, Ukrainian forces continue to face pressure from advancing Russian troops in eastern Ukraine.

Among those sanctioned is the import-export division of China’s Dalian Machine Tool Group, which allegedly supplied $4 million worth of dual-use items to Russian firms. China denies providing weaponry to Russia but defends its trade relationship with Moscow as normal.

Washington's measures also target companies supplying components for Orlan drones, used by Russia in Ukraine, and firms involved in energy projects like the $21 billion Arctic LNG 2 initiative.

This project has already been hit by previous Western sanctions, limiting its access to ice-class tankers. Additional sanctions were imposed on UAE-based White Fox Ship Management, which the U.S. says acquired four tankers to transport liquefied natural gas (LNG).

@ Newshounds News™

Souece:  Badlands Media

~~~~~~~~~

Tether shuns blockchain launch, cites market concerns

Tether’s decision to avoid launching its blockchain stems from the crowded market and strategic alignment with existing platforms.

Tether, the issuer of the world’s largest stablecoin, USDT, has calculated to forgo its own blockchain launch, citing market saturation and strategic concerns.

According to an interview with Bloomberg News, the company’s CEO, Paolo Ardoino, explained that the stance comes from analyzing the blockchain space and a crowded market.

Ardoino stated that the firm launching a blockchain might not be the “right move” since “very good blockchains” are already available to the public.

Market saturation

In the interview, Ardoino noted that blockchains are becoming increasingly commoditized, with many offering similar functionality to users.

As such, he explained that the firm is satisfied with the remaining blockchain as “agnostic” as long as USDT  trading retains peak sustainability and security using blockchains as “transport layers.”

In a YouTube interview with Unlock Blockchain, Ardoino explained that Tether is “a product market fit.”

“We created the entire stablecoin market in 2014. There was no stablecoin before us."

Tether Aptos expansion

On Aug. 19, Tether launched USDT on the Aptos blockchain to reduce transaction costs and improve global digital currency accessibility.

With the new integration, the company aims to leverage Aptos’ speed and scalability to provide users with gas fees that cost “only a fraction of a penny.”

The announcement by Tether follows the Aptos blockchain, witnessing significant growth and a “record-breaking” 157 million transactions in a single day in May.

Launch of dirham stablecoin

On Aug. 21, Tether partnered with the United Arab Emirates’ Phoenix Group and Green Acorn Investments to launch a dirham-backed stablecoin.

The new stablecoin aims to digitally represent the dirham currency, “fully backed by liquid UAE-based reserves” while adhering to Tether’s “transparent and robust standards.”

This expansion into the UAE market is expected to offer users a cost-effective method for accessing “the benefits of the AED.”

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

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” Friday 8-23-2024

60-day gold revaluation trigger - LFTV Ep 187

Kinesis Money:  8-23-2024

n this week’s episode of Live from the Vault, Andrew Maguire uncovers how global central banks are ramping up gold buying while the Fed continues its attempts to suppress gold prices and conceal the true extent of the dollar's depreciation.

The precious metals expert provides an update on the BRICS’ gold-backed token launch and discusses the escalating shift toward de-dollarisation of the global trade, signalling significant changes ahead in the gold and silver markets.

Timestamps

00:00 Start

 04:00 53rd anniversary of the US leaving the gold standard and the rise of petrodollar

 08:49 Tracking BIS efforts to split from the Fed and coordinated gold buying by banks

19:45 Update on the BRICS gold-backed currency progress

24:51 In-depth short-term gold market overview - with charts!

https://www.youtube.com/watch?v=Apbcw0IQVpQ

Millions Are Seriously Struggling Now After Credit Crisis Worsens

Atlantis Report:  8-23-2024

Millions Are Seriously Struggling Now After Credit Crisis Worsens. The U.S. economy is facing a severe credit crisis, as 75 million people have stopped paying their debts, according to a recent report by the Consumer Financial Protection Bureau.

The report reveals that millions of Americans are struggling to repay their loans, mortgages, credit cards, student loans, and other debts due to the combined effects of the pandemic, the recession, the inflation, and the reserve ratio.

This widespread non-payment of loans, credit card balances, and other financial obligations has sent shockwaves through the banking sector, raising concerns about the solvency of lending institutions and the potential for a cascading effect on the global economy.

The United States is currently experiencing a severe financial crisis, which has left millions of Americans dealing with unprecedented economic challenges.

This crisis is caused by increasing household debt, higher interest rates, and ongoing inflation, leading to major financial problems for many families nationwide.

 As the cost of living continues to outgrow income growth, more and more individuals are finding it difficult to meet their financial obligations.

This has led to a widespread crisis, posing a threat to the economic well-being of numerous households.

https://www.youtube.com/watch?v=-QvAdTYMPJI

We Just Saw The TREMOR Before The Earthquake | Francis Hunt

Liberty and Finance:  8-22-2024

The impending global financial collapse marks an unprecedented event in economic history, characterized by the synchronized failure of fiat currencies and debt systems worldwide, says The Market Sniper Francis Hunt .

 As central banks and governments grapple with an escalating crisis, the scale of this collapse is poised to reshape economic paradigms for centuries.

In the face of soaring gold prices, currently exceeding $2,500 per ounce, Hunt forecasts a significant bull run for gold, with potential highs reaching $3,000 and beyond.

This global debt crisis, unlike past economic downturns, is affecting all major economies simultaneously, underscoring the gravity of the situation. For those invested in precious metals, particularly gold, this period presents an unparalleled opportunity amid the economic turmoil, he notes.

INTERVIEW TIMELINE:

 0:00 Intro

1:10 $2500 gold

5:43 Economic collapse

15:50 Gold & oil update

22:33 Silver update

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

Iraq Now Moving Backwards in Battle to Strengthen the IQD

Iraq Now Moving Backwards in Battle to Strengthen the IQD

Awake-In-3D   August 22, 2024

Iraq’s struggle to stabilize the dinar worsens as growing reliance on dollars, rising imports, and inflation risks signal a shift in the wrong direction.

Iraq is facing serious financial challenges as it tries to reduce its dependence on the U.S. dollar and strengthen its own currency, the Iraqi Dinar (IQD). Despite efforts from the government and the Central Bank, Iraq is relying more on the dollar than ever before.

This makes it harder for the country to build a stable economy. Instead of improving the value of its own money, Iraq’s economy is moving in the wrong direction. By printing more dinars and buying record amounts of dollars, the country risks weakening its currency and becoming more dependent on foreign markets.

What you will learn reading this article:

• Why Iraq’s increasing purchases of U.S. dollars signal deeper economic issues

• How issuing more Iraqi dinars is weakening the currency and fueling inflation risks

• The impact of rising foreign currency transfers on Iraq’s dependency on imports

• Why current economic policies are falling short of creating long-term stability for Iraq’s economy

Iraq is struggling to gain control over its currency as its reliance on the U.S. dollar grows. Despite efforts by the Central Bank of Iraq (CBI) to strengthen the IQD and reduce dependence on foreign currency, the country’s economic strategy appears to be faltering.

Recent financial activities suggest that Iraq is moving backward in its quest for economic independence, raising concerns about the future of the nation’s financial stability.

Record-Breaking Dollar Purchases Signal Alarming Economic Trends

One of the clearest signs of Iraq’s deepening economic troubles is the Central Bank’s substantial purchases of U.S. dollars. In July 2024, the Central Bank of Iraq bought an unprecedented $9.6 billion worth of dollars from the Ministry of Finance, marking a record high since such transactions began in 2003. The trend is not confined to a single month either; in 2024, monthly purchases of U.S. dollars have averaged $5.9 billion.

This pattern of heavy reliance on the dollar is driven largely by the government’s growing expenditure, which requires more Iraqi dinars to fund its operations. As the government spends more, it turns to the dollar to keep the economy running. However, these purchases erode the strength of the IQD, pushing Iraq further from its goal of economic sovereignty.

Issuance of More Iraqi Dinars Weakens Its Value

To meet the Ministry of Finance’s financial needs, the Central Bank has issued more Iraqi dinars, but this strategy is creating new problems. Printing more dinars risks oversupply, which weakens the currency and threatens to fuel inflation. Historically, Iraq has struggled with inflationary pressures, and the current influx of newly minted dinars could reignite those issues.

Rather than stabilizing the currency, this approach is diluting the dinar’s value, putting Iraq in an even more precarious position. Instead of fostering a strong IQD, the country is becoming increasingly dependent on foreign currency reserves, predominantly U.S. dollars, to maintain its financial balance.

Rise in Foreign Currency Transfers Highlights Dependency on Imports

Another backwards trend is the rise in foreign transfers of U.S. dollars, which surged by 99% in recent months, reaching over $264 million in a single auction. The Central Bank uses these transfers to pay for imports and settle international accounts. The spike in foreign transfers is evidence of Iraq’s reliance on international markets to meet domestic needs.

This dependence on foreign goods and services weakens the IQD and diminishes the prospects of building a robust domestic economy. Each dollar sent abroad is a reminder of Iraq’s continued dependence on foreign markets, making it increasingly difficult to achieve economic independence.

Economic Policies Fall Short of Long-Term Stability

While the Central Bank has made efforts to ease the process for private banks to transfer money overseas, these policy changes are far from a solution. Such measures may keep imports flowing and help Iraqi banks pay international suppliers, but they fail to address the core issues plaguing Iraq’s economy.

The real problem lies in the country’s dependence on the U.S. dollar and its lack of a comprehensive strategy for strengthening the IQD. Unless Iraq shifts its focus to long-term growth and economic independence, these short-term policy changes will only provide temporary relief without resolving the underlying challenges.

Supporting Sources:

• Alforat News Iraq-Article 1

• Alforat News Iraq-Article 2

• Alforat News Iraq-Article 3

=======================================

© GCR Real-Time News

Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog

Join my Telegram Channel to comment and ask questions here: GCR_RealTimeNews

Follow me on Twitter: @Real_AwakeIn3D

Seeds of Wisdom RV and Economic Updates Friday Morning 8-23-24

 Good Morning Dinar Recaps,

LIVE: Fed Chair Jerome Powell speaks at the 2024 Jackson Hole Economic Policy Symposium — 8/23/2024 AT 10:00 AM EDT

Federal Reserve Chair Jerome Powell speaks at the central bank’s annual Jackson Hole conference on the economic outlook on Friday. That will follow minutes from the Fed’s July gathering released Wednesday. They indicated that most participants at the central bank’s meeting said it would “likely” be appropriate to lower the fed funds rate from the current range of 5.25% to 5.5% at the September meeting — if data continues to come in as expected.

@ Newshounds News™

Watch Live Here: BENZINGA

~~~~~~~~~

Crypto Expert Warns: 95% of XRP Holders May Miss Out on Generational Wealth – Here’s Why

Edoardo Farina, CEO of Alpha Lions Academy, advises XRP holders to focus on long-term potential.

Farina stresses the importance of securing digital assets and suggests using cold wallets to protect investments.

Edoardo Farina, CEO of Alpha Lions Academy and Head of Social Adoption XRPHealthcare, recently addressed XRP holders during Istanbul Blockchain Week with a cautionary message. Farina, a notable figure in the cryptocurrency sector, emphasized the importance of patience and strategic thinking in maximizing the potential of XRP investments.

Farina pointed out that a lot of XRP holders are only in it for the quick buck, and they grow impatient with the price volatility of the cryptocurrency. He pointed out the difficulties of XRP investors but emphasized that the main thing is to focus on the long-term strategy.

“Unfortunately, a lot of XRP holders are losing their patience, and I totally understand that it has been quite a journey,”

Farina stated. He encouraged investors to forget the short-term fluctuations in the market and focus on the long-term process of building wealth through crypto-currencies.

Farina Compares XRP Investment to Marathon Running
Farina further stated that XRP can make one rich but this process is among the longest and most frustrating of all. He compared the process to running a marathon and explained that people should not expect too much from the market too soon.

Farina also focused on the issue of investment as one of the critical factors that need to be considered. He told the XRP holders not to allow digital currency to define their lives and that they should find other ways to make money.

As noted by Farina, this approach helps in avoiding biases and minimizes the stress of monitoring the market on a daily basis.

Farina also pointed out the need to protect digital assets as well. He advised that XRP investors should keep their investments in cold wallets to avoid exposing them to risks on the internet. He emphasized that it is crucial for the protection of investments in the long run.

“Have your 10,000 XRPs or whatever number you want to hold,” Farina advised, warning that frequent trading could lead to missed opportunities. He stated that buying and keeping XRP in the midst of market volatility will be profitable once its value rises.

XRP’s Potential to Disrupt Global Finance
Farina’s optimism about XRP is based on the fact that this cryptocurrency is capable of revolutionizing the world’s financial systems. He noted that XRP could take a large share of SWIFT’s transactions that amount to 10 quadrillion dollars. This means that even a small percentage of this market could lead to a massive surge in the value of XRP.

“Just imagine what will happen when XRP captures one percent of SWIFT’s 10 quadrillion in transactions,” Farina said. He argued that those who can remain patient and stick to a well-thought-out strategy could achieve generational wealth.

In his message to the XRP community, Farina emphasized the principles of restraint, planning, and prudence. He advised investors to ignore short-term fluctuations in the market and consider the long-term value of their investments.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

Franklin Templeton expands blockchain fund to Avalanche network

Franklin Templeton has expanded its pioneering blockchain-integrated money market fund to Avalanche, broadening institutional investor access to digital finance.

Franklin Templeton, a global asset management firm, has expanded its Franklin OnChain US Government Money Fund to the Avalanche network.

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

According to a press release shared with Cointelegraph, the expansion to the layer-1 blockchain will be the “first-of-its-kind onchain money market fund” on Avalanche.

The fund, which launched in 2021, allows institutional investors access to Franklin Templeton’s blockchain-integrated record-keeping system, Benji Investments.

“[Investors] may hold their wallets on the Avalanche network upon request and subject to eligibility.”

The decision to expand to Avalanche
Franklin Templeton’s decision to expand to Avalanche builds upon its existing digital asset initiatives, which can be seen in the firm’s digital assets teams’ focus on blockchain technology since 2018.

In the press release, Ava Labs president John Wu stated that he was “thrilled” to see the fund expand to the Avalanche network:

“Franklin Templeton shares a mutual commitment to developing transformative digital financial products and services that will meet onchain investor demand today and bring offchain capital and users into the ecosystem tomorrow.”

In a written Q&A with Cointelegraph, Wu explained the significance of the expansion of the fund into the Avalanche ecosystem, describing it as a “foundational piece.”

“Blockchain and tokenization enable traditional finance to more easily reach people and businesses, offering new capabilities that are not possible via traditional rails.”

Franklin Templeton ETF filing
On Aug. 16, the global asset management firm applied to the United States Securities and Exchange Commission to launch a new exchange-traded fund (ETF).

The new ETF — the Franklin Crypto Index ETF — is designed to be a one-stop-shop crypto portfolio and to track the performance of the CF Institutional Digital Asset Index.

Katalin Tischhauser, head of investment research at Sygnum, explained that the “next logical step” is index ETFs because “indices are efficient for investors.”

Fund launch on Arbitrum
On Aug. 8, Franklin Templeton also announced the launch of the fund on Arbitrum, which aims to bridge traditional finance and decentralized finance.

Users of the fund on the Benji Investments platform can acquire and hold its tokenized shares on Arbitrum to generate low-risk investment yields.

With the addition of the Avalanche network to the fund’s expansive efforts, Franklin Templeton now offers tokenized shares on Avalanche, Arbitrum, Stellar and Polygon.

@ Newshounds News™

Source:  Cointelegraph

~~~~~~~~~

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

News, Rumors ad Opinions Friday AM 8-23-2024

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 Fri. 23Aug. 2024

Compiled Fri. 23Aug. 2024 12:01 am EST by Judy Byington

Global Currency Reset: (Rumors/Opinions)

 Thurs. 22 Aug. 2024 MarkZ: “We have good news on the Farm Claims, the original Pigford Black Minority Farm Claims. I am sure you all have seen the article over the last few weeks that the “Farmers who faced USDA discrimination received historic $2B payout.” My understanding is Pigford farm claims first…then the original 14 claims….of which 2 people have checked in telling me they do have money…not everything but a “chunk” ….So for me it is well underway and happening.

The question is when will the “rank and file” of the bond world get paid? The bond market appears to be on hold right now, but still lots of expectations for this week.” https://www.agriculturedive.com/news/usda-black-minority-farmers-discrimination-payments/723051/

~~~~~~~~~~~~

Thurs. 22 Aug. 2024 Wolverine: “It looks like we have the green light. It looks like it’s on. Hold on. It’s not official, but it looks like it’s happening.”

~~~~~~~~~~

Thurs. 22 Aug. 2024 Bruce:

There were 19 solid new currency rates showing up on Redemption Center screens. One was the USN.

The screen rates at the Redemption Centers will be 3 x times higher on the Dinar and  2 x times higher on the Dong. The other currencies take the Bolivar are all between $4 and $7 so we’ll be fine.

Emails to set redemption appointments were going out to the Redemption Center leaders. As of now they’ve not received the Green Light but they think after the markets close, or it could be by tomorrow through Sunday.

Bond Holders are expecting their emails Sunday, Monday or Tuesday.

So Tier4b (us, the Internet Group) could receive notification to make redemption appointments in conjunction with the EBS somewhere between the weekend to next Tuesday.

We are hearing that over the weekend (or early next week) the EBS will alert us over our phones to turn on the TV for documentaries to be broadcast for eight hours three times a day for ten or twelve days of disclosure.

The EBS and documentary showings were a cover for us to go in and do our exchanges and redemption of Zim.

The Admiral will start either Saturday or Sunday and continue through Monday.

All debt forgiveness will be done by the 31st August.

~~~~~~~~~~

Thurs. 22 Aug. 2024 The Alliance Plan, Charlie Ward

Implementation of NESARA/GESARA debt relief.

The military will provide the necessary food to the masses.

QFS implementation.

95% reduction in government machinery.

The Federal Reserve will be abolished, and the IRS will be placed under the new U.S. Treasury Department.

A new tax system requiring only a 14% tax on new items and no tax on things like food, medicine, wages, used houses, and cars.

~~~~~~~~~~~

Wed. 22 Aug. 2024: The Countdown Has Begun: GESARA to Wipe Out Global Debt and Reset World Economy! – Gazetteller

Wed. 22 Aug. 2024: Breaking Alert: Protocol 19 Triggers Black Swan Event – NESARA and GESARA – Revolution – Trust the Plan! – amg-news.com – American Media Group

Thurs. 22 Aug. 2024: BREAKING: Over 159 Countries Abandon SWIFT for the BRICS Payment System, Challenging U.S. Dollar Dominance! What’s Next? – amg-news.com – American Media Group

Thurs. 22 Aug. 2024: MILITARY INTEL: Quantum Financial Systems, Project Odin, and the Emergency Broadcast Revolution – amg-news.com – American Media Group

~~~~~~~~~~~~~~

Global Financial Crisis:

Thurs. 22 Aug. 2024 Blockchain goes banking mainstream – Electronic Payments International: https://www.electronicpaymentsinternational.com/comment/blockchain-goes-banking-mainstream-scott-zoldi-fico/

Read full post here:  https://dinarchronicles.com/2024/08/23/restored-republic-via-a-gcr-update-as-of-august-23-2024/

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

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

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:
Sudani showed up on the television just like he did yesterday, today he is talking once again about the monetary reforms.  He says to us the monetary reforms are underway.  FRANK:  This is serious.  Every day his is coming and talking to the Iraqi citizens...I am extremely excited for your purchasing power that is soon to come to you exactly the way Sudani has been telling you...

Walkingstick   What they are doing right now to you Iraqi citizens is called a media campaign.  It is a massive attempt to tell you what they're about to give you...The speed of this monetary reform education is coming at you very fast ever since the United States Treasury showed up.  They are the ones that have increased the speed of this information to you.

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

Slow Motion Crash: De-dollarization Continues as States Ditch the USD & Trade in Local Currencies

Lena Petrova:  8-23-2024

https://www.youtube.com/watch?v=V6qcIvwX95s

“Tidbits From TNT” Friday Morning 8-23-2024

TNT:

Tishwash:  Economist points to a “solution” that will “lower” the dollar exchange rate

Today, Thursday (August 22, 2024), Mustafa Akram Hantoush, an expert in economic and financial affairs, commented on the reasons for the fluctuations in the dollar exchange rate in the Iraqi markets.

Hantoush told Baghdad Today, "The parallel market needs to be dismantled in order for the exchange rate to decrease. Previously, there were solutions to the issue of cigarettes and gold, and the tax was reduced and the merchant was allowed to buy through the platform again, and the exchange rate stabilized at 145 thousand dinars."

He added, "We have small traders who do not have a facilitating mechanism, and we have trades such as gold and cleaning materials that have not been processed, and we have huge trade with Iran and Syria worth millions of dollars, and these can be processed by giving them currency or gold," stressing that "most countries have solved the problem of trade with Iran, despite the American sanctions imposed on them, and solved the problem of travel to those countries."

The dollar exchange rate in the parallel markets rose again, as the markets recorded prices close to 150,000 dinars for every 100 dollars, even though the Central Bank of Iraq sells it at 1,320 dinars for every one dollar.

With the government's efforts to control prices in parallel markets, commercial markets witnessed a decline in the exchange rate in recent weeks, but it rose again, which indicates an economic problem that is still present in the country.

In response, parliamentarians raised a movement to question the governor of the Central Bank within the legislative dome, as the Finance Committee in the House of Representatives, on Sunday (August 4, 2024), directed a request to the Presidency of Parliament to question the governor of the Central Bank .

A document signed by the members of the Finance Committee, received by Baghdad Today, stated: “We, the members of the Finance Committee listed below, are the signatories for the purpose of hosting the Governor of the Central Bank due to a major defect in the management of the bank .”

The document added: "Therefore, we demand that the Governor of the Central Bank be questioned in the nearest session, in accordance with the applicable articles of the constitution and internal regulations."  link

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

Tishwash:  Parliament's "Forgery" of the Budget... A "Dangerous Precedent" Swinging Between Denial and Confirmation, Putting Mandalawi on the Brink of Overthrow

Independent MP Ahmed Majeed Al-Sharmani commented today, Thursday (August 22, 2024), on the existence of manipulation and changes in the 2024 budget tables approved by the House of Representatives.

Al-Sharmani told Baghdad Today, "The parliamentary investigations are ongoing and ongoing in order to find out the truth about the existence of manipulation and change in the 2024 budget schedules."

He added: "We requested all papers and documents from the Parliamentary Finance Committee to audit the tables and reveal the truth about any tampering with them, and we are still waiting for those papers to reach us from the committee, and after the audit we will take a position in the event of any tampering."

He pointed out that "this move is supported by most of the representatives, and we cannot remain silent about such a serious issue in which there is manipulation if these allegations are true, in addition to the existence of a parliamentary investigative committee specializing in this file."

Acting Speaker of the House of Representatives, Mohsen Al-Mandalawi, denied any manipulation of the budget tables, saying that “the budget tables voted on by the House of Representatives are the same ones sent by the Council of Ministers and returned to it.”

Al-Mandlawi posted on his Facebook account, yesterday, Wednesday (August 21, 2024), that “after following up on what is being published and broadcast of inaccurate talks by some media outlets, the budget tables voted on by the House of Representatives are the same ones sent by the Council of Ministers and returned to it, according to our parliamentary decision No. (64),” stressing that no amendments have been made to them, according to the statement . 

He pointed out that "the aforementioned tables are the same ones that were sent to the government after approval," noting that the Council Presidency "has formed a high-level committee to examine the circumstances raised regarding the issue and determine their truth."

Investigations are ongoing

However, the Parliamentary Finance Committee confirmed that the investigation committee is continuing to investigate the circumstances of tampering with the budget tables and the CD, noting that the government has begun working with the tables voted on by the House of Representatives.

Committee member Moeen Al-Kadhimi said in a statement followed by "Baghdad Today", Tuesday (August 20, 2024), that "the investigation committee formed by the parliamentary finance and related to tampering with the budget tables sent by the government to parliament and which were voted on is still ongoing," noting that "the investigation was conducted with the Secretary-General of the Council of Representatives and the Director of the Office of the Speaker of the Council of Representatives ." 

At the beginning of last June, the House of Representatives approved the amended Federal General Budget Tables No. (13) for the year (2024) . During the House of Representatives session, the estimates of the General Budget Tables for the year 2024, its attachments, and the deficit financing tables were approved .

Al-Mandlawi may lose his position

MP Basem Khashan, for his part, 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, which were recently revealed by the Prime Minister’s Office, are proven.

In a televised interview followed by "Baghdad Today" (August 19, 2024), Khashan said, "Parliament committed legal violations in amending the budget schedules, and they were on their way to being published and implemented had it not been for the government's scrutiny, noting that many representatives were deceived 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.

However, information indicates that there is a difference in the numbers amounting to more than 10 trillion added to the original budget of 211 trillion dinars, which is something that economic experts consider a dangerous precedent, given the failure to submit final accounts  link

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

Tishwash:  Did the Iraqi government fail to maintain the truce between the factions and Washington?

The positions and statements of the Iraqi armed factions operating under the umbrella of the " Islamic Resistance in Iraq " continue, confirming that they are no longer in the truce with Washington, and that the option of resuming attacks on American bases has become available again. This comes after statements by the Iraqi government confirming the postponement of the withdrawal of international coalition forces from the country following recent attacks on the Ain al-Assad base, which houses American soldiers and is located in Anbar Governorate in the west of the country. The advisor to the Iraqi Prime Minister, Diaa al-Nasiri, also confirmed the freezing of dialogue with the United States on the file.

The government's retraction of its promises to end the international coalition's mission has provoked the Iraqi armed factions. Although they have not yet issued any unified position on ending the truce, positions have begun to emerge following successive statements by each faction separately, indicating a lack of prior coordination between them, at a time when the government is seeking to control the factions' rhythm and avoid dragging the country into a new escalation.

In a press statement, Haidar al-Lami, a member of the political council of the al-Nujaba group, confirmed that the truce, which was intended to give the government time to negotiate the withdrawal of American forces from the country, has ended, and that options for targeting military bases are now available. He pointed out that the Iraqi armed factions “ended this truce, after procrastination and stalling by America regarding the withdrawal of its forces during the talks with the Iraqi government.”

As for the security official of the Iraqi Hezbollah Brigades, Abu Ali al-Askari, he confirmed that "we have no commitment to stop operations against the American occupation forces in Iraq." He said in a statement issued on Wednesday evening, "We have no commitment to stop operations against the American occupation forces... All that matters is that the work is subject to the balances specific to the stage."

Two days ago, Kazem al-Fartousi, spokesman for the Sayyid al-Shuhada Brigades, one of the most prominent Iraqi armed factions, confirmed to Al-Araby Al-Jadeed that the position of the Iraqi resistance factions has been clear and announced from the beginning, that the failure of diplomatic efforts to end the American presence in Iraq will push them to resume their operations to liberate all Iraqi territory. This matter is fixed and announced, and we are awaiting the government’s official position regarding the latest developments in its negotiations, even though we know that there is no American seriousness in withdrawing.

For his part, a deputy in the Coordination Framework Alliance confirmed that the positions of these factions are not yet official, especially since the government is seeking to extend the truce, explaining to Al-Araby Al-Jadeed that “the Al-Nujaba Movement and Hezbollah are among the most hardline resistance factions in their positions against Washington, and that there are less hardline voices within the resistance.” The deputy, who requested anonymity, confirmed that “these factions have taken a position to end the truce unilaterally, and that they have confirmed that they will strike American bases in Iraq if America strikes the factions in response to targeting the Ain al-Assad base,” indicating that “the government, in turn, has provided them with guarantees that Washington will not carry out any strike, in an attempt to calm the situation.”

He pointed out that "the government side is exploiting the period of the Arbaeen pilgrimage and the factions' preoccupation with it, to move towards not violating the truce," indicating that "the situation is not reassuring, and the biggest role is for the government, which is working hard to control the rhythm of the two parties."

Forces in the Coordination Framework are working to remove the circle of confrontation

Forces within the Coordination Framework are also seeking to remove the issue from the circle of military confrontation, calling on parliament to intervene. Al-Fatah Alliance leader Ali Al-Fatlawi said in a press statement on Wednesday that "the political forces are determined to expel American forces from the country and have no intention of backing down from this decision at all." He called on the House of Representatives to intervene "in the upcoming sessions to discuss the expulsion of these forces, because this presence threatens security and stability in Iraq."

On August 5, the Ain al-Asad base was subjected to a missile attack, for which a new group calling itself “the Revolutionaries” claimed responsibility, and which resulted in the injury of a number of American soldiers within the US-led international coalition forces. Two days later, the Iraqi authorities announced the arrest of five people who they said were involved in the attack on the base, while no details about them have been revealed so far.

Since the beginning of last February, the Iraqi resistance factions have entered into a truce with the American side following the assassination of the leader of the Iraqi Hezbollah Brigades, Abu Baqir al-Saadi, stressing that this comes to pave the way for the Iraqi government to take the initiative towards developing solutions to end the presence of the international coalition in the country.  link

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

Mot: He sure does.

Mot: .. Starts out OK – butttttt