“Tidbits From TNT” Sunday 9-1-2024

TNT:

Tishwash:  Oliver Wyman Company and lifting sanctions on banks banned from the dollar 

The Central Bank of Iraq has contracted with Oliver Wyman, a global consulting firm that has the ability to “restructure companies to succeed in difficult times, build a new strategy in banking, and be a leader in risk, strategy, and human resources, helping clients navigate a dynamic environment across four global firms.”

A firm like Oliver Wyman can therefore help sanctioned Iraqi banks understand the sanctions imposed on them, work on strategies to mitigate their impact, and even help remove these sanctions in some cases. 

Legally, the firm can help Iraqi banks understand international laws and sanctions applicable to them, identify any legal risks associated with their activity, and then provide recommendations on how to improve banks’ compliance with international sanctions, and develop plans to mitigate risks.

In addition, the firm will help Iraqi banks communicate with international government agencies to learn more about the sanctions imposed on them, or to request “exceptions or mitigations,” by providing training programs for employees in Iraqi banks to develop their skills in the field of sanctions compliance.

From the above, we conclude that Oliver Wyman can play an important role in helping Iraqi banks understand and implement international sanctions effectively, and then submit a recommendation to the Treasury Department and the Federal Reserve that paves the way for lifting the sanctions.  link

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

Tishwash:  Parliamentary Economy Committee Discusses Amending the "Investment Law"

The Iraqi legislative arena is currently witnessing intensive discussions about the fourth amendment to Investment Law No. 13 of 2006, as amended, in light of the significant expansion of investment activity in the country in recent years.

These discussions come within the framework of efforts aimed at improving the investment environment and addressing the gaps in the current law.

In a press interview followed by “Economy News”, member of the Economic Committee, Diaa Al-Hindi, confirmed that the proposed amendment is “important and necessary” due to the many problems that the current law suffers from, explaining that “the current law requires fundamental amendments in several aspects, including the mechanism for selecting heads of bodies and members of the board of directors in bodies, in addition to the conditions for granting and withdrawing investment licenses, additional extensions, and grievance procedures.”

Al-Hindi pointed out that the amendment seeks to address those issues that the current law did not adequately address, which negatively affects the investment climate in Iraq.   link

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

Tishwash:  Business Impact Conference – Iraq (BICI) kicks off in Erbil

36 companies collaborate to create positive, inspiring and sustainable work environments

The Business Impact Conference – Iraq (BICI) kicked off today in its first session with the distinguished participation of 36 Iraqi companies, where entrepreneurs and business leaders meet to start the process of collective learning on how to create positive and sustainable work environments. The conference aims to promote the concepts of trust, unity, and diversity within Iraqi work environments, which contributes to improving performance and increasing productivity in the long term.

On the first day of the conference, the sessions began with a welcoming speech followed by a general introduction to the conference objectives and its importance in the local context. The agenda included interactive sessions and open discussions aimed at exploring and developing effective working practices.

The first session, titled “Building Positive Work Environments,” was led by Mr. Fahim Da’at Al-Thakreen, Founder of Popcorn Marketing, who provided valuable insights on how to create a work environment that encourages collaboration and innovation.

This was followed by a “Trust” session presented by Heba Hamadeh, General Manager of Cedars International School, which focused on the role of trust in strengthening relationships within teams and clients. The program also included small study sessions and group discussions to deepen understanding and exchange experiences among participants.

After a lunch break and group photos, the conference resumed with a session on “Unity and the Power of Diversity,” presented by Ali Alwan, HR Manager at Ramlah Real Estate Development. This session discussed how to leverage cultural and intellectual diversity to achieve integration and unity in the workplace. The first day concluded with a session on “Fixing the Roots, Not the Branches,” which focused on an open discussion to explore radical solutions to the challenges facing workplaces.

The conference continues tomorrow for its second day, focusing on growth and collective activism. The fifth session, titled “Growth,” will be led by Rawaa Al Saqr, founder of Sagerlabs, who will present practical strategies for driving growth in companies. After group study sessions and a short break, the “Activity” session will bring participants together for an artistic workshop that promotes team spirit and creativity.

The second day concludes with the “BICI Process and Units” session, which will review the outcomes of the conference and identify next steps to enhance business impact in Iraq.  link

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

Tishwash:  Fouad Hussein discusses with the US Ambassador the details of the international coalition conference against ISIS in Washington

Iraqi Deputy Prime Minister and Foreign Minister Fuad Hussein discussed with US Ambassador to Baghdad Alina Romanowski on Saturday the details of the international coalition conference against ISIS, which will be held in Washington next month.

The Iraqi Foreign Ministry said in a statement, a copy of which was received by Kurdistan 24, that "Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein received today, Saturday, August 31, 2024, the US Ambassador to Iraq, Alina Romansky."

The statement indicated that "during the meeting, the ongoing negotiations regarding a ceasefire in Gaza and sending aid, especially medical aid, to the Strip were discussed."

He added, "The military operation carried out in the Anbar desert was referred to, which resulted in the neutralization of 15 ISIS terrorists. The minister praised the joint cooperation between the Iraqi and American forces and the success of this important operation."

He added that the meeting "touched on the conference of the international coalition against ISIS scheduled to be held in Washington early next month, and Iraq's participation in it. It is worth noting that this coalition includes 87 partners, and was established primarily to fight the terrorist organization ISIS in Iraq and Syria, and the conference will be at the level of foreign ministers of the participating countries."

The statement concluded by saying, "The United Nations General Assembly meetings to be held next month, which will be attended by dozens of world leaders, were discussed. The role of the two countries in these meetings and the required coordination between them to hold bilateral meetings on the sidelines of the participation of the two countries' delegations in New York were also discussed." link

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

Mot.. Have a Happy ~~~~ 

Mot:  Try to remember the kind of september.......

https://www.youtube.com/watch?v=QEm67QbgEGY

Seeds of Wisdom RV and Economic Updates Sunday Morning 9-1-24

Good Morning Dinar Recaps,

“SAME RISKS, SAME RULES”: THE SEC’S SELECTIVE APPROACH TO CRYPTO REGULATION

When it comes to cryptocurrency regulation, the SEC views most cryptocurrencies as securities, favoring the concept of ‘same risks, same rules’.

But is it possible it’s not being consistent itself?

The same rules aren’t being followed when it involves the custody of crypto-assets.

The notorious SEC accounting bulletin SAB 121 changes the accounting rules around the custody of crypto-assets, requiring those assets to be disclosed on the balance sheets of listed firms.

That contravenes global accounting norms and has prevented banks from providing cryptocurrency custody. The SEC tries to argue that crypto-assets have elevated cyber risks.

A new heavyweight paper on crypto regulation points out that cyber risks are not new and are well covered by existing regulations. So using the principle of “same risks, same rules”, no additional cyber regulation is necessary for crypto-assets.

Yesterday Steven Schwarcz, Distinguished Professor at Duke University School of Law, published a paper on regulating financial innovation, with a focus on crypto-assets and DeFi.

We’d note that the paper does not directly mention SAB 121, so it is Ledger Insights that’s highlighting the inconsistency. However, the Professor’s cyber risks observation directly follows his discussion of the controversial application of ‘same risks, same rules’ to crypto.

A thought provoking paper on crypto regulation

Most regulations focus on the minutiae, whereas Professor Schwarcz reviews the high level models that can be used in regulating fintech innovation. ‘Same risks, same rules’ is one of six models he explores.

While some may disagree with various suggestions, regulatory clarity is necessary for new industries to flourish.

The Professor selected the salient aspects of the six models to outli The Professor selected the salient aspects of the six models to outline a recommended framework to address fintech innovation in gen ne a recommended framework to address fintech innovation in general. He then applies it to the crypto sector.

Sandboxes, smart contract audits (not just code)

A first step is to provide regulatory sandboxes. The Professor has a pragmatic view, recognizing that sandbox tests with a few customers won’t highlight all the potential risks.

There’s a need for fintech firms to self monitor their risks. However, that’s not likely to be sufficient, so there should be a system of third party expert monitoring.

In the crypto sector, smart contract audits are already widely used to identify bugs and qualify as a type of third party monitoring. But that only addresses one specific risk. A broader range of risks need exploring – risks to the firm and their customers, to other market participants and the public.

Plus, the automated nature of smart contracts can trigger a vicious cycle. We’ve already witnessed multiple crypto crashes and the impact on crypto lending. The liquidation of collateral leads to price declines, sparking a cascade of additional liquidations.

Stopping a crash

In traditional finance (TradFi) these sorts of issues exist in high frequency trading, where suspending trading helps to address the risk. However, the Professor recognizes that would be tricky to enforce in the crypto sector.

Hence, he recommends that businesses identify their counterparties and disclose the risks to them. If a third party monitor finds the firm’s smart contract usage creates significant risk, then “Regulators should have the power to suspend a business’s right to enter into new smart contracts.”

In other words, if you can’t stop a crash by suspending trading, then try to prevent it from happening in the first place. Although both are desirable.

One can imagine that the suggestion would cause the crypto sector to be up in arms, but it has merit, provided it’s not overused and one appropriately defines ‘significant risk’. TradFi has standard approaches to risk management which can be tweaked and ported to the crypto world. The more responsible players already do this.

For example, we’re aware of at least one exchange that saw the Terra Luna collapse unfolding early on, because they had systems in place. Hence, they protected their clients, although arguably their reaction exacerbated the downward spiral.

DeFi regulation

The Professor’s approach to DeFi resembles discussions already taking place about how to identify responsible people, with holders of governance tokens being one avenue.

An alternative option is to require DeFi platforms to be “provided by centrally registered and well capitalized entities.” At the same time, he acknowledges that could nullify DeFi benefits (low costs), so suggests consulting the DeFi industry before taking steps in this direction.

Regarding crypto-assets, he observes that some have proposed the financial equivalent of the FDA. In other words, all fintech innovations would need approval in advance.

 He dismisses this as an innovation killer. He wrote that this “reverses the presumption, at least in the context of new financial products, that private-sector freedom of contract produces beneficial societal outcomes”.

In the case of financial stability risks, the Professor notes that fintechs are generally too small to create stability risks. These sorts of risks come from the actions of systemically important institutions. Hence, to address this particular risk, there should be limits on them rather than fintechs.

Surprisingly, he doesn’t mention that this is the approach taken by the Basel Committee for Banking Supervision.

Given the gravitas of this paper, who knows, perhaps he was the one that suggested banks have a maximum crypto exposure of 1% of Tier 1 capital.

@ Newshounds News™

Source:

Ledger Insights

SAB 121   

~~~~~~~~~

BIDEN ADMINISTRATION NOT INTERESTED IN RESOLVING UKRAINE CONFLICT — ECONOMIST

The true causes of the Ukrainian conflict have never been explained to US citizens, Professor Jeffrey Sachs said.

NEW YORK, August 30. /TASS/. The administration of US President Joe Biden is not interested in resolving the conflict in Ukraine and refuses to admit that Washington is directly to blame for this crisis, American economist, Director of the Center for Sustainable Development at Columbia University, Professor Jeffrey Sachs said.

"There's nothing really that this administration <...> is going to do. I don't think the president is probably in any mental state to lead anything at this point. So I think we're kind of on autopilot, which is [a] very bad place to be," he said in an interview with US journalist Tucker Carlson.

"This is a war provoked by the US, <…> the US [that] aims for NATO enlargement, and it would take a president who understands the basics of this and why this was so wrong headed," the economist emphasized, adding that Biden is not such a person.

Sachs added that the true causes of the Ukrainian conflict have never been explained to US citizens. The information that Americans can receive on this issue is contrary to reality, he added.

@ Newshounds News™

Source:  TASS

 ~~~~~~~~~

Iraq's Central Bank's Major US Visit | Seeds of Wisdom Team Youtube

@ Newshounds News™ 

~~~~~~~~~

RUSSIA IS ABOUT TO TRY USING CRYPTO TO GET AROUND SANCTIONS

Experts doubt it will work, given the traceability of blockchains and the risk of even tougher sanctions for Russia.

▪️Russia will start its trial of cross-border payments using crypto next week.

▪️Recent statements from senior Russian leaders suggest the law’s purpose is to use crypto to counter sanctions.

▪️The law hands power to Russia’s central bank to oversee an “experimental” regime.

Russia will begin trialing cross-border crypto payments next week in an effort to circumvent international sanctions – but this effort may not work, several policy and legal experts told CoinDesk.

Legislation passed at the end of July and swiftly signed into law by President Vladimir Putin does not lift an existing ban on using cryptocurrencies as legal tender for regular payments within Russia, but instead allows cross-border payments with crypto.

How the law will allow such payments remains unclear because the legislation doesn’t specify rules for such transactions. Instead it hands power to Russia’s central bank to oversee an “experimental” regime, experts said.

Russia's economy has been hit hard by a suite of sanctions imposed by the U.S. and other nations following its invasion of Ukraine.

Since Russia’s invasion of Ukraine in Feb. 2022, it’s faced 16,500 sanctions from the U.S., U.K., European Union, Australia, Canada and Japan.

"The passing of these bills by the Russian government signals a continuation of Russia’s evolving strategy to circumvent Western sanctions," blockchain analytics firm Chainalysis’ director of investigations, Valerie Kennedy, told CoinDesk.

The EU said about half of Russia’s total foreign currency reserves, worth 300 billion euros ($332 billion), including 70% of the assets of the Russian banking system, were frozen. Select Russian banks were disconnected by the interbank messaging system, the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

"It has been difficult for Russia to avoid the U.S. dollar and euro via the SWIFT system, which has created increasing risk of secondary sanctions," she added. Secondary sanctions are penalties designed to prevent any third party from trading with a sanctioned nation.

What the law says
Some details have emerged in the days leading up to the Sept. 1 implementation of the law.

CoinDesk viewed a copy of the law using google translate. It said “during the circulation of digital currency in the Russian federation … special regulation may be established … by the experimental legal regime program.” That regime is still in the works. Before finalizing it, the central bank will consider proposals and suggestions from domestic stakeholders.

“Some players, including us, have already come with our own proposals,” said Anti Danilevski, founder and CEO of Kick Ecosystem, a one stop shop for crypto, who has been closely engaging with regulators.

“The central bank will decide if it fits with their view. They are moving very fast, so it won't take much time.”

Bloomberg reported that Russia is planning to use the National Payment Card System, for swapping between rubles and cryptocurrencies when testing payments.

The system was chosen because it already features infrastructure for functions like interbank settlement and is fully regulated by the central bank. If the trials are successful, Russia may allow the Moscow Exchange and the St. Petersburg Currency Exchange to set up crypto platforms next year, the report added.

Ivan Chuprunov, an associate professor at the Research Centre of Private Law in Moscow, said the regime’s “exact parameters are not clear” because none have been published yet but the “central bank will likely publish some guidance in the coming weeks.”

The law also appears to let the central bank change how it oversees these trials at any time.

The legislation said that the provisions may “exclude or change” parts of the Federal Law in relation to transactions with “digital currency made in the implementation of foreign trade activities through an authorized organization.”

The regime is “more a flexible one” because it’s “just the central bank who will be approving it,” said Chuprunov. “Whether they will have just one exchange, what currencies would be traded, how participants would get trading access, is still a big unknown.”

Nor does the law clearly specify what rules now apply to crypto entities or businesses wanting to deal in crypto, because the central bank will determine which companies will participate in the experiment.

While the law doesn’t specify what its exact purpose is, recent statements from senior Russian leaders pointed toward using crypto to counter sanctions.

On July 17, 2024, in an economic affairs meeting, Putin said Russia should not “miss the moment” and should promptly set up a “legal framework” for crypto, which is “increasingly used in the world as a means of payment in international settlements.”

Then, one of the authors of the bill said Russia views cryptocurrencies “primarily as a tool for circumventing sanctions,” followed by its central bank Governor Elvira Nabiullina saying that’s why we “softened our stance” on crypto at an event in Moscow recently.

@ Newshounds News™

Source:  CoinDesk

~~~~~~~~~

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, and Opinions Sunday AM 9-1-2024

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 Sun. 1 Sept. 2024

Compiled Sun. 1 Sept. 2024 12:01 am EST by Judy Byington

Judy Note:

A reliable military source has leaked that in the next 24 to 48 hours, the Supreme Court will (allegedly) announce a government shutdown and replacement. Are you ready for the Great Comeback? The global media is (allegedly) gearing up for Disclosure Day, where the principles of GESARA, the largest wealth transfer in human history, and the new global economic system will be revealed. This synchronized broadcast will (allegedly) reach billions of people, using the Emergency Broadcast System (EBS) to deliver the truth to the masses.

Prepare for (allegedly) 10 days of communications darkness. There will be communication blackouts, but only in certain areas. Banks will close, ATMs and credit cards will (allegedly) stop working, and you will need at least three weeks of food and water. If you are not prepared, do not worry: the military will have your back and (allegedly) provide you with whatever you need. Educational messages will be broadcast without interruption, teaching everyone the true principles of freedom and justice.

The quantum financial system will (allegedly) release NESARA/GESARA funds, erasing debts and restoring our economy to the prosperity of the 1950s.

Judy Note: As I understand it, all banks will soon be service only (or closing) and their staff were being so trained. Your bank account is already on the QFS system with money from NESARA or GESARA in it. In the near future you will be setting up access to your new QFS bank account at a Redemption Center appointment. 

97 of the top 100 (C***l) Central Banks are currently (allegedly) under transformation to become fully operational under the QFS + RTGS system and the remaining 82 smaller Central Banks are gearing up for this transition.

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

Global Currency Reset:

Sat. 31 Aug. 2024 Wolverine: “Looks like everything has been lined up for Tues. 3 Sept. The Precatorias was supposed to go today, but now they are going to go on Tues. 3 Sept. It’s going to be a shotgun start. All contracts have been signed. Everything is ready to go. …Tier 1, 2, 3 and 4 banks around the world are fully integrated and ready for distribution. The RV is finally here. God bless. Your friend, Wolverine”

Fri. 30 Aug. 2024 Banker: “I was just advised to be on alert for the next 24-48 hours as news we expect was about to be released.”

Fri. 30 Aug. 2024: For Those of You Awake: GESARA, QFS, GCR/RV, ISO 20022, BASEL III, Protocol QFS 20, and the Iraqi Dinar – QFS ISO -2OO22 Stellar Blockchain Financial System – amg-news.com – American Media Group

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

Sat. 31 Aug. 2024 The Alliance Plan…NESARA/GESARA on Telegram

Implementation of NESARA/GESARA debt relief.

The military will provide necessary food to the masses.

Implementation of the QFS (Quantum Financial System).

A 95% reduction in the government machinery.

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

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

Read full post here:  https://dinarchronicles.com/2024/09/01/restored-republic-via-a-gcr-update-as-of-september-1-2024/

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

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

Militia Man  I think everybody should be excited by the fact that all the progress that we've seen with  Iraq has been amazing...Over the last 2 years we can see one thing after another is getting done.  It seems like it's painstakingly  [slow] ...but in truth it's not even close to that. 

MarkZ   [via PDK]  I have been told a 3 day weekend is easier to execute. In an ideal world they would flip the rates on a Saturday Night or Sunday morning and this would give them more time to prepare banking . It would just be easier to do it on a 3 day weekend for the biggest economies in the world.. At least that is how it was described to me... the anticipation for this weekend is at a feverish pitch right now!!   We will see what happens. We should know by midday on Sunday. 

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

BREAKING NEWS Iraq's Shocking Oil Revenue 15% Sent to U S

Edu Matrix:  9-1-2024

BREAKING NEWS: Iraq's Shocking Oil Revenue 15% Sent to U S - 65% Sent to China and India, 20% to Europe. Non-oil revenue growth and barrel per day for first half of 2024 -report.

https://www.youtube.com/watch?v=SwbdT4LfjSU

Economist’s “News and Views” Saturday 8-31-2024

A Cryptocurrency Backed By GOLD?

Lynette Zang:  8-31-2024

In today's episode of GeeWhiz we are talking about the recent launch of Tether's new gold-backed cryptocurrency and what that really means for you and the dollar...

https://www.youtube.com/watch?v=rSyjV2uyxPk

Central Banks Are DOOMED! Gold & Silver Are About To Go PARABOLIC! | Greg Mannarino

Wall Street Silver:  8-31-2024

Greg Mannarino joins us to discuss the global economy and more! Gold is on the rise and something big is coming! JOIN US!

https://www.youtube.com/watch?v=UNL2LV29LMA

BRICS Bank vs. IMF: BRICS Bank Accepts New Member, Poised to Challenge IMF Predatory Tactics

Lena Petrova:  8-31-2024

https://www.youtube.com/watch?v=jprhdz7js4k

More News, Rumors and Opinions Saturday PM 8-31-2024

KTFA:

Clare:  Central Bank contracts with international auditing firm in New York

 8/31/2024

The Central Bank confirmed during the visit of the delegation headed by His Excellency the Governor of the Central Bank, Mr. Ali Mohsen Al-Alaq, to ​​the United States of America that the delegation discussed the use of electronic payment cards and ways to regulate and stimulate their use in line with Iraq's trend towards electronic payment.

This came during separate meetings with a group of companies such as (Visa, Mastercard and MoneyGram), as the international auditing company (KPMG) presented an extensive analytical presentation of the uses of these cards, supported by recommendations and proposals to enhance organized use and accommodate the significant increase in citizens’ use of these cards.

During the negotiations, the parties gathered praised the important steps in enhancing the banking sector reforms, most notably the contract that the Central Bank of Iraq delegation concluded with Oliver Wyman to conduct a comprehensive review of the conditions of Iraqi banks, especially banks prohibited from dealing in the US dollar.

The company will work to develop practical solutions to reintegrate these banks into the Iraqi and international banking sector, in addition to improving the level of bank procedures in line with international standards. This initiative aims to facilitate the process of establishing direct banking relations and improve the quality of services provided by banks to serve the Iraqi economy. The company is scheduled to start its work in the coming period.

Central Bank of Iraq  LINK

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

Clare:  Oil Minister reveals upcoming visit to US to discuss gas investment file

8/31/2024  Baghdad

Oil Minister Hayan Abdul Ghani confirmed today, Saturday, the intention to refer 10 gas exploration blocks for investment in a new licensing round, and while revealing an upcoming visit to the United States to discuss offering them to international companies, he confirmed the intention to launch a new gas investment project at the end of the year with a capacity of 125 Mcm.

Abdul Ghani said: "The fifth and sixth supplementary licensing rounds included 29 blocks and fields, and contracts were completed on 14 of them, and there are about 10 gas blocks among the remaining that companies have not applied for and we are in the process of offering them in a new licensing round."

He added, "The Ministry of Oil plans to offer these gas investment opportunities to specialized companies, and we have a visit to the United States soon for this purpose, as we plan to offer them to international American companies."

He added, "The Ministry of Oil took the initiative to drill an exploratory well in the Al-Anz area with a capacity of 1,000 cubic meters, and the Halfaya gas investment project was also opened with a capacity of 300 cubic meters, and it is hoped to launch the gas investment project in the Al-Faiha oil field at the end of this year with a capacity of 125 cubic meters."  LINK

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

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

Bruce  [via WiserNow]  ...there's so much good stuff coming out with Iraq with their new rate coming up Sunday, international rate, and we’ve [US] occupied one floor in the Central Bank of Iraq.  And we vacate that on Saturday. We no longer will be in that CBI on Saturday...So that’s good news...I just think we're all ready for this to go...

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:
Saleh on TV right now and he just told us that the project to delete the zeros is ruled out at this present time...Then he turns around and says we need to reduce the amount in the budget from trillions to billions and then ends the conference talk by saying many have called for the removal of the three zeros which would increase the dinar...We are both in shock and stunned because he said one thing and then he said another thing.  FRANK:  What he's telling you is exactly right...it doesn't make any sense...This is B.S.  It is a lie...Trust me, nothing is stopping the purchasing power that is coming to you Iraqi citizens.  Nothing...China did the same thing back in the 90s...They came out with a full page article in their newspaper saying there were not sign to increase the value.  3 days later they increased the value.  This may be the same scenario.  A diversion for speculators.

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

US Property “$557 BILLION Bloodbath” - Final Chapter Of The Banking Collapse Is Here

Sean Foo:  8-30-2024

The US banking collapse saga is reaching its final chapter. Either we will get another spree of crashes or the fear will fizzle away and we are back where prices rage higher.

 Here's what you must know and why commercial real estate is at the heart of this gigantic threat.

Timestamps & Chapters:

 0:00 US Banking Crisis Big Finale

2:51 US Office $557 Billion Crash

 5:22 CRE Defaults Tsunami Coming?

7:44 This Must Not Collapse OR ELSE

10:17 US Consumers Big Alert

https://www.youtube.com/watch?v=J30actmYqKc

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 8-31-24

Good Afternoon Dinar Recaps,

BINANCE ANNOUNCES SUPPORT FOR BIGGEST CARDANO HARD FORK IN HISTORY: DETAILS

With the Cardano hard fork called Chang approaching, the world's largest cryptocurrency exchange, Binance, has announced that it will be supporting the network update.

The Chang hard fork is expected to occur on Sunday, Sept. 1, at approximately 9:45 p.m. UTC. An hour before the event, Binance will suspend all deposits and withdrawals from ADA, the network's native token; trading in the asset, however, will not be affected.

The Chang hard fork, which is being called Cardano's “most significant” update to date, will make the network fully decentralized. Few people know that Cardano is now actually run by three entities:

 Cardano Foundation, IOHK and EMURGO. They are in fact responsible for all decisions made regarding the blockchain and affecting the price of the 10th largest cryptocurrency.

Under Chang, however, the keys and in fact the control mechanisms of Cardano will remain in the hands of the community and actual ADA holders who delegate their tokens to the staking pool.

Newshounds News™

Read more:   U Today 

~~~~~~~~~

CRYPTO HOLDERS DISPROPORTIONATELY FAVOR TRUMP FOR U.S. PRESIDENT, NEW ACADEMIC POLL SHOWS

Donald Trump’s outreach to the crypto community seems to be paying off.

Former U.S. President Donald Trump’s efforts to court the cryptocurrency industry this election cycle seem to be paying off, according to the results of a new poll from Fairleigh Dickinson University.

The poll results, released Friday, found that crypto holders are disproportionately likely to say they will vote for Trump over Vice President Kamala Harris in the upcoming U.S. presidential election. Half of all crypto-holding survey respondents said they planned to vote for Trump, while only 38% of crypto owners preferred Harris.

@ Newshounds News™

Read more:   CoinDesk  

~~~~~~~~~

COINBASE CEO ANNOUNCES FIRST AI-MANAGED CRYPTO TRANSACTION

▪️Brian Armstrong announced the first AI-managed crypto transaction on Coinbase.
▪️AI bots can now perform instant, global, and free transactions using crypto wallets.
▪️New developments are enabling AI bots to autonomously manage financial transactions.

Coinbase CEO Brian Armstrong announced a groundbreaking development in the crypto sector. Armstrong revealed the first crypto transaction entirely managed by artificial intelligence (AI) bots on the platform. This transaction is considered a significant step at the intersection of AI and cryptocurrencies.

Armstrong Announced the Development on X

On August 30, Armstrong shared, “This week, we witnessed the first AI-to-AI crypto transaction on Coinbase.” In this transaction, an AI bot interacted with another AI bot using cryptocurrencies, and the AI purchased tokens.

These tokens play a critical role in the development of AI technologies as data sequences that enable algorithm learning. Access NEWSLINKER to get the latest technology news.

Armstrong highlighted another important point: AI bots were designed to perform specific tasks but struggled to manage transactions until now. 

This was seen as one of the biggest obstacles to integrating AI into daily life. Without payment methods, AI bots couldn’t participate in economic activities, but the advent of crypto wallets is gradually removing this barrier.

They Can’t Open Bank Accounts

Armstrong noted that while AI bots cannot open traditional bank accounts, they can possess crypto wallets. These wallets enable bots to perform instant, global, and free transactions on the Base platform using cryptocurrencies like USDC. This development paves the way for AI bots to become active participants in the digital economy.

Armstrong’s innovative approach aligns with his previous calls for equipping AI systems like large language models (LLMs) with crypto wallets. Armstrong aims to revolutionize the world of digital transactions by enabling AI bots to perform tasks on behalf of users and participate widely in the economy.

Other Developments Are Also Underway
The sector is responding to Armstrong’s vision with new developments that grant transaction capabilities to AI bots. For instance, in August, the Blockchain development firm Skyfire launched a payment platform that allows AI bots to autonomously spend money. 

This platform enables AI to manage financial transactions independently, a function previously exclusive to humans.

Additionally, the Web3 infrastructure firm Biconomy is taking significant steps by deploying AI bots to facilitate on-chain transactions for users. According to co-founder Aniket Jindal, the Delegated Authorization Network (DAN) introduces a new authorization phase that allows commercial activities to be delegated to AI bots.

@ Newshounds News™

Source:  Coin-Turk

 ~~~~~~~~~

US ON FAST TRACK TO BANKRUPTCY — MUSK

"Government overspending is what causes inflation," the businessman said
NEW YORK, August 30. /TASS/. The United States may soon face bankruptcy, businessman Elon Musk said.

"At current rates of government spending, America is in the fast lane to bankruptcy. Government overspending is what causes inflation," Musk wrote on his page in the X social network.

The state debt for the first time crossed the level of $35 trillion, the US Department of the Treasury said on July 29. According to forecasts of the Congressional Budget Office, it will be over $50 trillion or more than 122% of GDP in 2034. The Office estimated that the average annual growth of US GDP will be 1.8% in 2029-2034.

@ Newshounds News™

Source:  TASS

 ~~~~~~~~~

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 8-31-2024

TNT:

Tishwash: Iraq elected to chair the Group of 77 and China at the United Nations

The Ministry of Foreign Affairs announced, today, Saturday (August 31, 2024), the selection of Iraq to chair the Group of 77 and China ( G77 ) at the United Nations for the year 2025, after the Asia-Pacific Group meeting held to discuss Iraq's nomination for this position.

The ministry said in a statement received by "Baghdad Today", that "the Chargé d'Affairs of the Permanent Mission of the Republic of Iraq to the United Nations in New York, Abbas Kazim Obaid, delivered a speech in which he affirmed Iraq's vision for its role during its presidency of the group, highlighting the main axes of work and stressing Iraq's commitment to the basic principles of the group, especially with regard to supporting the goals and aspirations of developing countries in achieving economic, technological, and social development.

Obaid stressed that "Iraq will work to provide all the elements of success for this presidency, which is the first for Iraq since the establishment of the group, as Iraq was one of the founding countries 60 years ago.

The statement added, "At the end of the meeting, the resolution was unanimously adopted to support the Republic of Iraq to assume the presidency of the Group of 77 and China ( G77 ), as the member states offered congratulations to Iraq and expressed their readiness to support it in its tasks during this important presidency. In another speech, the Chargé d'Affaires expressed his gratitude for the support and endorsement of the Asia-Pacific Group and its confidence in entrusting this responsibility to Iraq, stressing his readiness to work and cooperate with the member states to achieve common goals.

It is worth noting that the Group of 77 and China is the largest group of countries in the United Nations, with 134 member countries  link

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

Tishwash:  Parliamentary Committee Holds Kurdistan Responsible for Obstructing the Approval of the Oil and Gas Law

Member of the Parliamentary Oil and Gas Committee, Alaa Al-Haidari, strongly criticized the Kurdistan Regional Government, holding it responsible for obstructing the approval of the Oil and Gas Law.

Al-Haidari said in an interview followed by “Al-Eqtisad News” that “there is difficulty in passing the law due to the lack of a political agreement and the regional government’s failure to implement the concluded agreements.”

Al-Haidari pointed out that “several meetings were held in the presence of officials in the Ministry of Oil and government advisors, with the aim of reaching an agreement on the law, but those efforts have not borne fruit so far.”

He added, "The Oil and Gas Law is one of the laws that has been stalled in the House of Representatives, as it has remained on the shelves for more than five parliamentary sessions."

Al-Haidari explained that “the government program included voting on the law in the House of Representatives, and if approved, it will contribute to ending the controversy between the region and the center, and provide fair direction for wealth within the framework of the constitution.”

Al-Haidari concluded his statement by stressing that “the approval of the law will ensure the fair regulation of oil exports and oil and non-oil revenues, which will spare the country further problems and obstacles between the region and the center.”  link

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

Cutebwoy:  CBI launches new phase of international transfers

2024-08-30 14:38

Shafaq News/ The Iraqi Central Bank (CBI) delegation in New York has announced the commencement of a new phase in international transfer operations, involving 13 Iraqi banks.

 According to a statement by the bank, this initiative is aimed at diversifying currencies and facilitating global transfers. The statement highlighted that this development follows an agreement on mechanisms to regulate these transactions, which will now include the use of the Euro, Chinese Yuan, Indian Rupee, and UAE Dirham.

The delegation also outlined the role of the international auditing firm E&Y, which will review these transfer operations to ensure compliance with international standards. This move reflects CBI's commitment to maintaining high levels of transparency and security in all foreign transfer operations, thereby bolstering confidence in Iraq's financial system.

This initiative is part of the Central Bank's ongoing efforts to support economic growth and expand international cooperation with global markets, as per the statement.

A knowledgeable source revealed on Thursday that CBI is currently conducting an unannounced visit to the United States to discuss developments in Iraq's banking sector.

According to the source, a delegation led by Central Bank Governor Ali Al-Alaq and several general managers has been in the US since August 26 to discuss recent banking developments and the restrictions on the use of the dollar imposed on many private Iraqi banks.

The discussions also touched on the potential cancellation of the platform early next year, which would shift reliance on correspondent banks, further restricting Iraqi private banks and potentially favoring Jordanian banks with American correspondents.

The source added that CBI is close to signing a contract with the consulting firm Oliver Wyman to conduct a study on reforming Iraq's banking sector, which will serve as a roadmap for future reforms.

Meanwhile, some economists have expressed surprise at the lack of public disclosure regarding the visit, particularly given its significance during this critical period.

EconomyBreakingUSDelegationIraqi Central BankInternational Transfers

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

Mot: ........ Here We Goooooo 

Mot:  . Get Ready!!! --- Sooooon!!! 

News Rumors and Opinions Saturday AM 8-31-2024

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. 31 Aug. 2024

Compiled Sat. 31 Aug. 2024 12:01 am EST by Judy Byington

It’s only wise to have at least a month’s supply of food, water, cash, medicine and essential items on hand for yourself, your family and to share with others in case of emergency.

Judy Note: Phase One of their Mission was now complete.

Right now major Global Media Networks were being prepped for what was called the Great Comeback, or Disclosure Day — a synchronized global broadcast that will explain GESARA’s principles, the details of the Greatest Transfer of Wealth in Human History and the new global economic system. This broadcast will utilize the EBS and is expected to reach billions of people, providing them with the information needed to understand and embrace upcoming changes.  

People across the Globe can look forward to 10 days of communication darkness where there will be shutdowns, but only in certain areas. The Emergency Broadcast System (EBS) will send out alerts. Banks will be closed, ATMs will not work, nor will debit/credit cards. We will need to have a minimum of 3 weeks of food, water. The Military will supply those resources if you do not have them available. There will be 24/7 education for the people airing 8 hours/reruns 3x/day.

Operation Castle Rock also implements the Quantum Financial System that releases NESARA/GESARA funds that in turn releases the D********e C***l’s stolen monies, giving them back to The People through compensation for exploitation of Birth Certificates, excusing all credit card and mortgage debt and includes a Global Currency Reset of 209 countries currencies to gold/asset backed that trade at a 1:1 with each other and returns the World to 1950s prices.

Sun. 1 Sept. 2024 The Great Comeback Disclosure Day? Major Global Media networks were being prepped for The Disclosure Day — a synchronized global broadcast that will explain GESARA’s principles, the details of the wealth transfer, and the new global economic system. This broadcast will utilize the EBS and is expected to reach billions of people, providing them with the information needed to understand and embrace the changes. MASSIVE! Trump’s Secret Meetings with Global Leaders to Launch GESARA and the Biggest Wealth Transfer in History! – Gazetteller

Fri. 30 Aug. 2024 Wolverine: “The EBS Emergency Broadcast System will begin today Fri. 30 Aug. 2024 in American Samoa Time. This will be Worldwide.”

Your Quantum Financial System (QFS) Account is already set up (on the very secure Starlink Satellite System), holding all your personal data and even your DNA. There’s nothing left to configure. Your account already contains funds, money tied to your birth certificate, past loans, mortgages, and more. This is YOUR money, earned over your lifetime, securely stored in your QFS account. … (JFK Jr.) on Telegram Fri. 30 Aug. 2024

Fri. 30 Aug. 2024 Situation Update: Judy Byington: Un-Redacted: With a Global Financial Collapse Imminent. The Greatest Transfer of Wealth in History Is Underway! Counting Down! Special Intel Report 8/30/24 (Video) | Alternative | Before It’s News (beforeitsnews.com)

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

Global Currency Reset:

Judy Note: We have been told that, rather than going to a bank to exchange our foreign currencies, we would get a higher rate of exchange by calling an 800 number to obtain an appointment at an authorized Redemption Center. Instructions on how to obtain that 800 number appointment will be sent out through emails from Wells Fargo to those who have bought their currencies from a valid dealer, plus the instructions will be posted on various websites and this Update. US citizens who are exchanging Dinar can ask for the higher Dinar Contract Rate at a Redemption Center. The Zim Bonds can only be redeemed at a Redemption Center.

Fri. 30 Aug. 2024 TNT Tony: “As of today, Iraqi banks can do international transfers with the dinar. The lower denomination dinars are supposed to be available in all regions of the country by tonight. All the 3-letter agencies and the banks say that there is nothing left to do except wait. Tony was told he should be getting the 800 number in the next few hours. We should have appointments to exchange this weekend. The banks have a set time to start the exchanges. It’s supposed to be between now and Sunday, according to the 3-letter agencies. The banks were told that we should start by Sunday. So after 5 pm Eastern today to Sunday is the window. Tony thinks it’ll start on Sunday. The basic rate for the dinar at the exchange centers is supposed to be $7-8, and the basic rate for the dong is $2-3. … Tony says all of his sources are still saying the same thing…it’s all DONE. He said Alaq came to the U.S. on Monday. SO this just came out and now 13 Iraq banks are now approved to interact in International banking…. to use any currency they want to include theirs….what does that mean… RV. He said he was told right before the call that our 800 numbers are coming out later today (after 5PM). He heard the window is going to be WIDE OPEN after 5PM to Sunday.  The banks told him they were told they would start BY SUNDAY. He is getting texts as the call continues and his bankers are saying they plan on working all weekend through the holiday.”

Thurs. 29 Aug. 2024 Bruce: Bank screen rates are showing but the RC rates are grayed out. He heard right before the start of the call that the QFS is now fully implemented worldwide based on asset / gold backed currencies. Timing – When the rates come up for Forex on Sunday night the world will have them live and available. He has heard we should get notifications on Monday.

Fri. 30 Aug. 2024 Wolverine: “I’ve been told that all platforms have been shut down. They are all now getting ready to release payment. Once the Precatorias start all Yellow Dragons Bonds from my platform will cease operations immediately.

Since Monday 09/02/2024 is a holiday in the USA (Labor Day), there is no way to have banking hours on the Reno Platform (Nevada/USA), so it was defined in the meeting within the BACEN on the date of 08/29/2024 that the global START will take place on 09/03/2024 (next Tuesday), when then Brazil 2, the USA and the other countries that will make up this project that covers 47 countries (and their respective Central Banks), after several exhaustive tests and adjustments, will finally be able to synchronize and proceed simultaneously with the release and settlement of the financial operations of which they are part.

Read full post here:  https://dinarchronicles.com/2024/08/31/restored-republic-via-a-gcr-update-as-of-august-31-2024/

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

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

Frank26   [Iraq boots-on-the-ground report]   FIREFLY: Alaq in the United States of America means very little for us in the sense   of a rate change.  It is more for the banks to try to get their situation straightened out and no more sanctions.  FRANK:  I agree to a certain point but I also disagree to another point.  IMO this meeting in New York may not release a new exchange rate but it is definitely part of the monetary reform.   This meeting will accomplish steps that are necessary to release the new exchange rate.  Your banks have to be stable and secure and free from the corruption of parliament and they must be ready for the new exchange rate.  That's what they're doing.

Militia Man  Article:  "Al-Mashhadani announces the approval of the majority of deputies to his nomination for the post of Speaker of Parliament"  Now it is waiting for a vote. Let’s see how long that takes...I do believe the optics of having all three presidents in place when they fully open the doors to the world with their real effective exchange rate, will or would be well accepted globally.  Investors would likely see it as security and stability.

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

BRICS Just Ditched US Imports Collapsing The US Economy!

Tech Beat:  8-30-2024

In this video, we look at the BRICS nations' recent and revolutionary decision to dramatically cut their reliance on US imports. This dramatic action marks a watershed moment in the global economic landscape, potentially marking the end of US economic dominance and ushering in a period of economic uncertainty.

We investigate the underlying forces behind this strategic decision, focusing on geopolitical tensions and economic reasons that have driven BRICS members to seek alternatives to US commodities and services.

The repercussions for the US economy might be far-reaching, affecting jobs, the dollar's worth, and the global trade system as a whole. Join us as we dissect the essential components of this economic change, examine expert perspectives, and speculate on what the future may hold for both the BRICS nations and the United States.

Could this be the beginning of a new economic order? How will this judgment affect US consumers and businesses? In this fascinating debate, we address all of these concerns and more.

https://www.youtube.com/watch?v=n0R860c5lGs

Seeds of Wisdom RV and Economic Updates Saturday Morning 8-31-24

Good Morning Dinar Recaps,

BRIDGE RAISES $58M FOR STABLECOIN API TO ENABLE REAL WORLD B2B PAYMENTS

Yesterday stablecoin startup Bridge announced it has raised a cumulative $58 million in venture funding from Sequoia, Ribbit, Index, Haun Ventures and others.

It’s initially offering two sets of APIs, one for issuing stablecoins and the other for orchestrating payments. Bridge supports a variety of stablecoin use cases, but the company’s Head of Revenue seems particularly focused on global B2B payments.

“While local bank interests and network rules worked great in the past, with today’s global work and borderless fund flows we need a truly global framework that can ride on top of financial systems,” Marco Mahrus, Bridge’s Head of Revenue told Primary Venture Partners.

The company outlined its ambitions in a job advertisement stating that it aims to “enable global companies to move and support millions of potential customers.”

To date, stablecoins have primarily been used for a narrow range of purposes – mainly for crypto transactions, by those that live in countries with volatile fiat currencies who wish to hold dollars, and sometimes for (mainly) consumer cross border payments.

Beyond emerging economies, usage outside of the crypto sector hasn’t been huge, despite the promise of low cost payments.

SpaceX and stablecoin real world use cases

Yesterday was Bridge’s formal public launch, but it started operations around 18 months ago, so it already has clients. One of them is SpaceX that uses stablecoins for global treasury management.

Bridge enables on and off-ramping in numerous currencies around the world, which can be converted to stablecoins for cross border payments.

It also supports payouts from aid organizations, creator platforms, and claims to work with the US government.

In addition to supporting FX conversions between fiat currencies and dollar stablecoins, Bridge enables conversions between different types of stablecoins. Last month it engineered a solution for Coinbase allowing the Tether stablecoin on the Tron blockchain to be converted to the USDC stablecoin on Base, Coinbase’s layer 2 blockchain.

Another client is crypto exchange, Bitso, that is providing Mexican businesses with a cross border MXN-USD payment rail using Bridge’s APIs. It’s also working with apps that target African and Latin American consumers that want to save and spend in US dollars.

The company’s team is pretty experienced. Both co-founders had stints at Coinbase and Square. Head of Revenue Marco Mahrus held similar roles at Uber and corporate card startup BREX. So far the company has money transmitter licenses in 22 U.S. states. 

In Europe it has a Polish subsidiary which is in the Virtual Currency Activities Register. This is not a MiCA licence, as we don’t believe Poland has yet issued any crypto asset service provider (CASP) registrations.

Meanwhile, Mahrus spoke about the ability of stablecoins to support transactions that arrive in seconds and at a small cost.

“When people get access to and are used to frameworks for economic exchange and payments that are available 24/7, no one will go back to a bank branch and wait for SWIFT or wire transactions during bank hours,” he said.

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

JUST IN: 🇧🇷 Brazil officially bans X (Twitter).

JUST IN: 🇧🇷 Brazil says anyone caught using a VPN to access X (Twitter) will be fined up to $8,874 per day.

@ Newshounds News™

Source:  @WatcherGuru

 ~~~~~~~~~

XRP NEW UPDATE: BLACKROCK HAVE OFFICIALLY BOUGHT IT ALL! XRP ANOTHER WIN
 

@ Newshounds News™

Source:  Crypto Connex Youtube

 ~~~~~~~~~

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 Friday PM 8-30-2024

TNT:

Tishwash:  Iraq called off one million barrel shipment in a bid to match OPEC regulations: Reuters

Iraq plans to lower its oil output to in between 3.85 million and 3.9 million barrels each day in September as part of a strategy to make up for producing over its quota concurred with OPEC and allies, Reuters quoted a source on Thursday.

The plan comes just as Libyan oil production drops due to a. political conflict in between various factions.

The declines will tighten the oil market ahead of a prepared. output boost by OPEC and its allies - called OPEC+ - from. October to begin loosening up some production cuts.

Iraq produced about 4.25 million barrels each day (bpd) in. July, according to the Company of the Petroleum Exporting. Countries, mentioning secondary sources. That is above its quota of. 4 million bpd.

The oil ministry had actually sent a strategy to OPEC to compensate. for the overproduction between this month and September next. year. Iraq's cumulative overproduction between January and July. was 1.4 million bpd, OPEC said recently.

Iraq cancelled a spot cargo of 1 million barrels in August. to reduce its exports throughout the month, the source said.

There were quotes for the freight however it was removed the. market, the source said, adding two more freights of the exact same. size will be deferred from August to September.

Baghdad plans to reduce its output from September onwards by. cutting exports to 3.3 million bpd or lower, from 3.43 million. bpd, in addition to cutting local consumption to 500,000 bpd from. 570,000 bpd and asking the Kurdistan Regional Federal government to cut. its output to 50,000 bpd from 150,000 bpd, the source stated.

OPEC Secretary General Haitham Al Ghais was in Baghdad on. Wednesday and consulted with Iraqi Oil Minister Hayan Abdel-Ghani.

OPEC stated on X that Abdel-Ghani restated Iraq's. dedication to the complete and timely implementation of production. level changes, including payment plan as agreed under. the Statement of Cooperation  link

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

Tishwash:  Baghdad wants money from the government and has its eye on “stalled projects”: We will launch new ones - Urgent

 Baghdad Provincial Council confirmed, today, Friday (August 30, 2024), the development of important and strategic plans to develop the capital's service reality during the next phase, indicating that it is awaiting financial allocations to complete the stalled projects .

Council member Nora Al-Jahishi told Baghdad Today, “Despite its short life, the Baghdad Council has worked during the past period to activate the oversight aspect and follow up on the work of service departments in Baghdad, and there is a noticeable development in service work due to continuous and strict oversight and follow-up  .”

Al-Jahishi added, "The Baghdad Council has developed an important and strategic work plan to launch projects and complete others that have been stalled for a long time, but we are waiting for the financial allocations, as they have not been released to us yet by the central government  ."

The Iraqi capital, Baghdad, is witnessing a remarkable urban development on the level of main roads and vertical buildings after the relative security in the country was restored and the country opened up to investments and partnerships with Arab and Western countries .

Last year, the Ministry of Planning revealed a decrease in the number of stalled projects in Iraq, while indicating that there are more than 7,000 projects under construction .

The spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, told Baghdad Today, "There are more than 7,000 projects in Iraq with different rates of completion, and great efforts are being made to complete them within two years," noting that "the government has raised the slogan of services and interest in service projects such as school projects, hospitals, roads, and sewage networks ."

He added that "the number of stalled projects has decreased to 1,000 projects distributed across various sectors and governorates," noting that "the Prime Minister has directed that these projects be resolved during the coming and upcoming year ."

He added, "We have 73 hospitals that are lagging behind and with different rates of completion that were addressed through the Amiri order 45, and some of the suspended hospitals were completed, and about 90 percent will be completed within two years," indicating that "there are 16 new hospitals that have been included in the 2024 budget ."  

Regarding the schools sector, Al-Hindawi explained that “there is a great deal of work being done to complete this sector, as the project of the thousand Chinese schools has begun, and the construction of a number of schools will be financed within the Iraq Development Fund,” noting that “nearly 40 percent of the delayed or suspended schools have been completed .”  

The spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, had previously explained to Baghdad Today the reason for the halt of most projects in Iraq, indicating that “the main reason for the halt of these projects is due to Resolution 347 issued in 2015, during the financial crisis, which led to the halt of many projects, and these projects are distributed across various sectors of transportation, communications, buildings, services, industry and agriculture, and they are at different rates of completion .”

 He added, "The priority now within the current government's program is to complete service projects, most notably hospital projects, school projects, sewage projects, and water projects. By the end of next year 2024, more than 90% of these projects will be completed, especially after the approval of the budget law, and with the existence of financial allocations for the investment program   link

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

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

Militia Man  The Development Road Project is going forward whether you like it or not.  Iraq is going International, they just haven't yet.  They're not on the Forex but are they going to be there?  I think they're going to be there...quite soon.

Mnt Goat   Article:  "GOVERNMENT ADVISOR EXPLAINS THE POSSIBILITY OF USING THE DINAR INSTEAD OF THE DOLLAR IN OIL SALES"  This is a...VERY good article in that it talks about the risks associated with pegging the dinar to oil prices...Instead they plan to repeg to a “basket” of international currencies from the top developed nations. This much less risky and is much more stable. Besides this is the Dr. Shabibi and IMF plan for Iraq.  Article Quote:  "Will it be a fixed exchange system supported by foreign reserves or will it be a flexible exchange system in which the (petrodinar) changes with the change in oil prices?"   I luv this...it reinforces again they are NOT going to peg the dinar to the price of oil... Nonetheless this...tells us they know they must do something and do it soon!

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

WARNING. "We The People" DEMAND! A RETURN To Constitutional Money.

Greg Mannarino:  8-30-2024

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

Seeds of Wisdom RV and Economic Updates Friday Afternoon 8-30-24

Good Afternoon Dinar Recaps,

BITCOIN ADOPTION IN THE US: Billion-Dollar Bank NCR Atleos Partners with LibertyX for BTC Cashouts at ATMs

▪️NCR Atleos has launched the LibertyX Bitcoin Cashout feature, allowing users to convert Bitcoin into cash.

▪️The feature is designed to simplify Bitcoin-to-cash transactions by letting users pre-stage their transactions via an app.

NCR Atleos has launched the LibertyX Bitcoin Cashout feature, allowing users across the United States to convert Bitcoin into cash through select ATMs. This new service aims to simplify the process of withdrawing cash from Bitcoin sales, addressing a significant hurdle in the wider adoption of cryptocurrency.

Simplified Bitcoin-to-Cash Transactions

The LibertyX Bitcoin Cashout feature is a service intended to enable buyers to get cash after selling Bitcoin. To purchase cryptocurrency, users have to choose a LibertyX-affiliated ATM in their region first. The user then enters a Bitcoin address, generates a code, and withdraws U.S. dollars from an ATM. This process removes the need for traditional banking transfers, which can often be slow and cumbersome.

Currently, the feature is available across 30 states, which is only a part of the over 280,000 ATMs managed by Atleos in the United States. The current rollout is limited, but the service could be made available to more people if the trial is successful.

According to Chris Yim, the General Manager of LibertyX, this solves a major problem that hinders Bitcoin uptake because it becomes easier to cash out the digital currency.

This feature is implemented by Atleos’s ReadyCode API, which facilitates the process of making Bitcoin-to-cash transactions at ATMs. However, the service has some disadvantages. For instance, the maximum one can sell in a transaction using the Bitcoin sale access code is $400. However, the users can make several transactions to withdraw higher amounts.

LibertyX, a licensed BitLicense holder in New York, has been active in the cryptocurrency ATM business, providing Bitcoin purchasing options at over 30,000 ATMs across the country.

The implementation of the Bitcoin Cashout feature is viewed as a logical addition to its services since it connects the digital and physical worlds.

US Cryptocurrency Adoption Grows Rapidly

The LibertyX Bitcoin Cashout feature is in line with developments in the US, where the uptake of cryptocurrencies is rising.

Security. org’s 2024 Cryptocurrency Adoption and Sentiment Report revealed that 40% of the adults in America own cryptocurrency, an increase from 30% in 2023. Out of these crypto owners, 63 percent intend to invest in more digital currencies in the next year.

Furthermore, the report reveals that the number of women investors in cryptocurrencies has grown from 18% in 2023 to 29% in the first quarter of 2024. This increase in interest can be attributed to the increasing popularity of cryptocurrencies in the US financial market.

Currently, the United States dominates the market, with 82% of the total number of Bitcoin ATMs installed worldwide. However, there has been a decline in the number of functioning Bitcoin ATMs in the U. S. due to a crackdown on the machines associated with extortion and scams.

The number of Bitcoin ATMs in the United States declined by more than 400 between May and July 2024, bringing the total to 31,273.

@ Newshounds News™

Source:  Crypyo News Flash

~~~~~~~~~

US partners with Nigeria for responsible AI use in military

The U.S. State Department has teamed up with Nigeria to further the responsible use of artificial intelligence (AI) in the military.

Mallory Stewart, whose role at the State Department focuses on arms control and stability, recently discussed AI use in military operations with Nigeria’s Ministry of Foreign Affairs, the Ministry of Defence, the national security advisor, civil society, and other officials from the regional bloc ECOWAS.

The U.S. has been on a global tour drumming up support for its initiative to have guardrails for AI use in the military. This initiative, which has garnered the support of 55 countries, advocates using AI “in a manner consistent with international laws and recognising inherent human bias,” Stewart told journalists in Abuja.

“We’ve learned the hard way [about the] inherent human bias built into the AI system … leading to maybe misinformation being provided to the decisionmaker,” she added.

It’s not the first time the U.S. government has partnered with Nigeria on AI. Earlier this year, the American government reiterated its support for Nigeria’s AI strategy, pledging to support the development of the West African nation’s infrastructure to boost research and innovation.

A few months later, the two governments signed an MoU to increase AI engagements between their respective national AI institutes.

The U.S. Department of Commerce has also pledged to collaborate with Nigeria on its approaches to critical areas such as “data, trusted digital infrastructure, power/green energy, AI governance policies, computing resources, digital skills relevant to AI and more.”

The controversy of AI in the military

As with virtually every other sector, AI is gaining rising adoption in the military. For some, like Japan, the technology presents a solution to a rapidly aging and declining population that has left the country short of a military workforce. Others are using it to collect and analyze data and assist in decision-making.

According to former Google (NASDAQ: GOOGL) CEO Eric Schmidt, global wars are “no longer about who can mass the most people or field the best jets, ships, and tanks.” It’s now about autonomous weapon systems and powerful algorithms.

Regulations and guardrails are critical for the technology’s deployment in the sector. However, global political alignments have overshadowed the need for policy frameworks.

One major movement led by the U.S. brought together 31 nations, including France, Germany, Canada, and Australia, to sign a declaration setting guardrails on military AI. However, China and Russia, the other two most powerful militaries after the U.S., were conspicuously missing.

As regulators slack off, AI developers are increasingly voicing their concerns and opposition to the military deployment of AI. Earlier this year, nearly 200 employees at Google DeepMind signed a letter demanding the company terminate its contracts with military organizations.

“Any involvement with military and weapon manufacturing impacts our position as leaders in ethical and responsible AI, and goes against our mission statement and stated AI Principles,” the developers say.

Industry leader OpenAI has also been dragged into military applications. Earlier this year, the company quietly removed its ban on using its AI models “for military and warfare” and has been working with the Pentagon since.

@ Newshounds News™

Source:  CoinGeek

~~~~~~~~~

BANKS USING PERMISSIONLESS BLOCKCHAINS FOR TRANSACTIONS FACE MULTIPLE RISKS: BIS

Risks include operations and security, governance, legal, settlement finality and compliance, the report said.

▪️Banks transacting on permissionless blockchains face multiple risks including settlement finality, the Bank for International Settlements said in a working paper.

▪️The paper also said technology to address some of the risks, particularly privacy, is being developed. naming zero-knowledge proofs as a potential solution.

Banks that transact on permissionless blockchains face multiple risks, including money laundering and terrorism financing, the Basel Committee on Banking Supervision concluded in a new paper.

The committee is part of the Bank for International Settlements (BIS), the primary global standard setter for prudential banks.

Other risks include operations and security, governance, legal, settlement finality and compliance, the paper said.

"Certain risks stem from the blockchains’ reliance on unknown third parties, which makes it difficult for banks to conduct due diligence and oversight. These risks require new risk management strategies and safeguards. Current practices for mitigating these risks remain in various stages of development and have not been tested under stress," according to the paper.

Banks are also exposed to political uncertainty as a new legislation could "change validator behaviour," making the "blockchains themselves operationally unstable.

" A ban for instance could "reduce the amount of computing power or staked native tokens available to secure the blockchain, temporarily increasing the risk of a 51% attack," in which ”a coordinated effort is put forward to control greater than 50% of the validation nodes."

The paper also said technology to address some of the risks, particularly privacy, is being developed, naming zero-knowledge proofs as a potential solution.

Last month, the committee approved a disclosure framework for banks' exposure to crypto that must be implemented by the start of 2026.

@ Newshounds News™

Source:  CoinDesk

 ~~~~~~~~~

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 8-30-2024

BRICS 2024: 126 Nations Eyeing US Dollar Exit

Arcadia Economics:  8-30-2024

The October BRICS meeting is suddenly not that far away.

And now as Vince Lanci reports in today's show, we're up to 126 nations that are set to attend the BRICS Municipal Conference. Showing increasing interest in joining the bloc and moving away from reliance on the US dollar.

 Vince also talks JP Morgan's gold comments, Nvidia's earnings, and the rest of the precious metals news this morning. To find out more, click to watch the video now!

https://www.youtube.com/watch?v=zmpublt0Who

Debt Crisis Spiraling Out Of Control | Alasdair Macleod

Liberty and Finance:  8-29-2024

Alasdair Macleod discusses the imminent financial crisis stemming from the Western world's escalating government debt, which now exceeds levels seen during World War II.

He highlights the dangerous debt trap where debt growth outpaces income growth, exacerbated by a lack of foreign investment and rising inflation.

Macleod warns that the U.S. dollar is in a precarious position, with rising interest rates and a potential recession contributing to economic instability.

 He critiques the government's policies, particularly the approach to unrealized capital gains taxes, as a manifestation of the broader problem of currency devaluation.

 Macleod underscores that gold is maintaining its value amidst this turmoil, driven by global shifts away from fiat currencies and central banks' increasing gold reserves.

INTERVIEW TIMELINE:

0:00 Intro

1:35 Topic outline

3:08 Debt trap

22:53 Stocks vs gold

33:15 Russia/Ukraine conflict

42:02 Macleod Finance

https://www.youtube.com/watch?v=kug7KCVOfqE

‘Middle-Class Squeeze’: U.S. Government Spending and Real Wages Are Under Pressure - E.J. Antoni

Kitco News:  8-29-2024

Jeremy Szafron, Anchor at Kitco News, interviews E.J. Antoni, a public finance economist from the Heritage Foundation and senior fellow at Unleash Prosperity.

 In this discussion, Antoni dives into the U.S. economy’s current state, exploring whether recent GDP growth is sustainable or merely borrowing from the future.

Antoni provides his analysis on the real impact of inflation, the federal debt crisis, and the accuracy of government-reported job data.

The conversation covers the underlying vulnerabilities in the economy, from consumer debt at record levels to the challenges facing the labor market.

00:00 – Introduction

 01:16 - Is GDP Growth Sustainable or Borrowing from the Future?

 03:41 - Consumer Spending: Resilience or Credit Dependency?

06:32 - Inflation Driven by Government Spending

 09:54 - The Growing Threat of National Debt

12:47 - Can We Trust Government Job Data?

15:33 - Small Businesses and Regulatory Burdens

18:23 - Middle-Class Erosion and Real Wages

21:48 - Recession Indicators: Are We Already There?

24:35 - Long-Term Stagnation: Lessons from Japan

https://www.youtube.com/watch?v=_eTR98KJQTM

Seeds of Wisdom RV and Economic Updates Friday Morning 8-30-24

Good Morning Dinar Recaps,

HONG KONG launches PROJECT ENSEMBLE SANDBOX for wCBDC, tokenization

Today the Hong Kong Monetary Authority (HKMA) launched the Project Ensemble Sandbox to support institutional experimentation with tokenization, both traditional securities and real world assets (RWA). The initiative also involves an experimental wholesale CBDC (wCBDC) to enable interbank settlement between the tokenized deposits of banks.

Four banks are providing the tokenized deposits: 

▪️HSBC,    ▪️Standard Chartered (Hong Kong), 

▪️Bank of China (Hong Kong) and  ▪️Hang Seng Bank. 

Other direct participants are Microsoft Hong Kong, Ant Digital Technologies (ADT) and Hashkey Group.

The Securities and Futures Commission (SFC) is partnering with HKMA for one of the four trial categories relating to fixed income and funds, where BlackRock and Franklin Templeton are amongst the ‘non community’ participants.

Julia Leung, SFC CEO said the Sandbox is an “example of how innovation and regulation can go hand in hand to blaze a new path for our financial markets.

As two major architects of Hong Kong’s financial markets, the SFC and the HKMA share the same vision and dedication to future-proofing the city’s financial system through innovative market infrastructure.”

Unlike stablecoins where payments involve a single token transfer, a tokenized deposit is a digital twin. Hence, a token transfer from the client of one bank to another also requires the banks to settle with each other in their off-chain books. That can be done with a payment using the conventional RTGS system, or ideally with a wholesale CBDC.

Liquidity, supply chain and green finance use cases

Meanwhile, another Sandbox application category is for liquidity management, including repo and treasury management. Ant International (not ADT), is collaborating with StanChart and HSBC to develop a global liquidity management solution. 

The goal is to use Ant’s Whale platform for treasury management to help the banks to exchange their tokens. Ultimately, this aims to support+ real-time 24/7 cross border payments.

Supply chain finance is an area to be explored in the Sandbox. One use case involves issuing electronic bills of lading (eBL) on the Global Shipping Business Network (GSBN) blockchain infrastructure.

These eBLs are tokenized by Ant Digital Technologies to support money movements for trade finance using tokenized deposits, with interbank settlement using wCBDC. The ICC Digital Standards Initiative is a participant in another trade related use case.

The fourth application area is for green finance, which attracted the most external participants (8) including local stock exchange HKEX.

Apart from these four areas, the HKMA said it would continue to engage with the community to potentially add more. Plus, it’s exploring collaborating with the BIS Innovation Hub on one or more themes.

The HKMA is also taking part in the European Central Bank wholesale DLT settlement trials. They aim to test the interoperability between the Project Ensemble platform and the Banque de France DL3S blockchain for wCBDC.

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

JUST IN: Elon Musk wins dismissal of lawsuit claiming he rigged Dogecoin and conducted insider trading.

JUST IN: Elon Musk wins dismissal of lawsuit claiming he rigged Dogecoin and conducted insider trading.

@ Newshounds News™

Source: @WatcherGuru

~~~~~~~~~

Governments are scrambling to secure and safeguard their critical minerals.

Meanwhile, the majority of investors remain sleeping.

Billions of dollars worth of minerals in the ground are trading at a fraction of their true value.

This eventually will change.

@ Newshounds News™

Source:  Gold Telegraph on X

~~~~~~~~~

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