Seeds of Wisdom RV and Economic Updates Wednesday Morning 9-18-24

Good Morning Dinar Recaps,

RIPPLE CLO NAMES KEY CONDITION FOR RIPPLE ACQUIRING HIGH POSITION IN US CRYPTO MARKET

Ripple’s chief legal officer Stuart Alderoty has taken part in Financial Markets Quality Conference 2024, where he spoke along with high-ranking representatives of such crypto giants as Robinhood, Grayscale and others. 

Once again Alderoty weighed in on the current lack of clear cryptocurrency regulations in the U.S., referring to this long-lasting situation as a “regulatory cloud.” He made a statement that once this “regulatory cloud” is removed and the U.S. gets “come policy clarity,” Ripple will become “the most trusted source for enterprise support for crypto solutions in the US!”

Ripple beats SEC by scoring two legal wins Over the last year, Ripple has scored important victories in court against the Securities and Exchange Commission spearheaded by Gary Gensler. 

Last year, in the summer, Federal Judge Analisa Torres ruled that XRP sales on secondary markets did not qualify as security sales. This largely gave the XRP the official status of nonsecurity, and in its later lawsuits against crypto exchanges, the SEC avoided calling XRP that.

This year, the SEC requested that the court make Ripple pay $2 billion in fines and also compensate the regulatory agency for the expenses and efforts invested in the suit.

However, the judge stated that Ripple must only pay $125 million to the SEC, while the blockchain company initially said that $10 million would be a fair amount in this case.

Ripple endorses RLUSD stablecoin in recent post In a recently published X post, the official Ripple account shared its article on stablecoins, underscoring its revolutionary role in the sphere of transnational payments. 

The major convenience of these assets is their peg to fiat currencies, like the U.S. dollar or euro, for those users who are troubled with the high volatility level of cryptocurrencies, like Bitcoin.

In 2022, the article says, there was an almost $7 trillion worth of international transfers made with the help of fiat-backed stablecoins, in collaboration with Mastercard and PayPal.

As for Ripple’s stablecoin, RLUSD, launched in early August, it was designed to keep a constant U.S. dollar peg. It is fully backed by a mixture of cash and its equivalents on a 1:1 basis. It is totally compliant with the regulators, according to Ripple.

@ Newshounds News™

Source:  U Today

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CIRCLE EXPANDS ACCESS TO USDC IN BRAZIL AND MEXICO

In what should be an important development for the stablecoin, Circle has expanded access to its USDC offering in both Brazil and Mexico. Indeed, the token is using local payment systems to grow the potential user base for the cryptocurrency. This should push increased adoption for the second-largest stablecoin by market cap.

The company announced the availability of USDC through local currency in both countries. Additionally, they have stated the move is a key part of its “mission to harness the power of blockchain networks to eliminate deeply embedded friction from value-exchange.”

Circle USDC Now Available in Both Brazil and Mexico Through Local Currency
The importance of stablecoins cannot be understated. Although different from the overarching crypto sector, these assets are backed by traditional currencies like the US dollar. They provide a host of benefits to different regions as a safer way to gain exposure to both national currencies and crypto.

@ Newshounds News™

Read more:  Guru Watcher

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Centre for the Fourth Industrial Revolution to Launch in Medellín, Colombia

▪️The World Economic Forum, in collaboration with the City of Medellín, will re-establish a Centre for the Fourth Industrial Revolution (C4IR) in Colombia in October 2024.

▪️The new centre will accelerate the responsible adoption of AI and technology-based solutions for urban transformation in Medellín, with the potential for broader impact in Colombia and Latin America.

▪️C4IR Colombia will rejoin a global network of 21 centres, spanning five continents, that seeks to maximize the benefits of technology.

▪️Read more about the global Centre for the Fourth Industrial Revolution network and its impact in 2022-2023.

Geneva, Switzerland, 13 September 2024 – The World Economic Forum and the City of Medellín will establish a Centre for the Fourth Industrial Revolution in Colombia in October 2024. 

The new centre will serve as a leading AI innovation hub, bringing together stakeholders from business, government and civil society to develop AI strategies and solutions for more inclusive, sustainable and prosperous cities. The announcement was made by Sebastian Buckup, Member of the Executive Committee of the World Economic Forum, and Federico Gutiérrez, Mayor of Medellín.

The Colombia Centre for the Fourth Industrial Revolution (C4IR Colombia) will be hosted by Ruta-N Corporation and will serve as a hub for public-private collaboration, enhancing local and regional capacity to harness the benefits of the Fourth Industrial Revolution.

Through this collaboration, the centre will implement and amplify best practices and strategic frameworks for leveraging AI in the responsible digital transformation of cities.

“We are delighted to welcome back the Centre for the Fourth Industrial Revolution Colombia in the World Economic Forum’s global C4IR network. The centre will build on previous achievements and play a crucial role in fostering technology-based solutions for Medellín, in line with its vision as a Special District for Science, Technology and Innovation, and it will also have the potential to contribute to technological progress in Colombia and the broader region,” said Sebastian Buckup. 

“The centre will harness Medellín’s capacities and reputation as a regional innovation and technology powerhouse and Ruta-N’s prominent position as one of the country's leading innovation agencies.”

“With the opening of this centre, Medellín consolidates its mission as a Science, Technology and Innovation District, with a focus on emerging technologies, such as AI, betting on the training of young people in digital skills, and the development of technology, entrepreneurship and technology-based companies,” said Federico Gutiérrez.

“In Medellín we will have the first special treatment zone, a sector in the North of the city that will attract investment, promote the testing of technology and innovation to improve the competitiveness of Medellín, and foster collaboration between the actors of the ecosystem: companies, universities, governments, citizens and international allies.”

About the Centre for the Fourth Industrial Revolution

The Centre for the Fourth Industrial Revolution is a platform for multistakeholder collaboration, bringing together public and private sectors to maximize technological benefits to society while minimizing the risks. It explores exponential technologies and drives their responsible adoption and application, leveraging a global network of independent national and thematic centres.

The World Economic Forum launched the first Centre for the Fourth Industrial Revolution in San Francisco in 2017, shortly followed by centres in Japan and India. 

The network now includes centres in Austin (Centre for Trustworthy Technology), Azerbaijan, Colombia, Detroit (US Centre for Advanced Manufacturing), Germany (Global Government Technology Centre), Gyeonggi (Republic of Korea), Israel, Kazakhstan, Malaysia, Qatar, Rwanda, Saudi Arabia, Saudi Arabia Centre for Space Futures, Serbia, Telangana (India), United Arab Emirates, Ukraine (Global Government Technology Centre) and Viet Nam.

@ Newshounds News™

Source:   World Economic Forum

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BRICS SURPASSES G7 IN KEY ECONOMIC AREAS: IMF REPORT

Amid the continued growth of the BRICS alliance, the International Monetary Fund (IMF) has recently highlighted that the bloc is leading the G7 group in four distinct and crucial areas. Indeed, they note that the gap between the Western bloc and the Global South collective is lessening.

The BRICS group took a massive step toward growth in 2023. Specifically, the bloc welcomed four additional members in its first expansion effort since 2001. 

The alliance saw the United Arab Emirates (UAE), Egypt, Ethiopia, and Iran join its ranks. That number could get even larger as the 2024 annual summit approaches.

IMF Says BRICS Leads G7 in Four Critical Areas: But What Are They?
The last several years have been vital for the BRICS bloc. It has firmly embraced de-dollarization on a global scale. Moreover, they have pushed those efforts to new heights. Creating a geopolitical reality in which nations seek global reserves outside the US dollar.

Moreover, its GDP growth has been a massive development. Since 2010, the bloc has seen its GPD (PPP) increase, whereas the G7 has seen the figure falter. Data shows that last year the BRICS bloc officially surpassed the collective in 2023, when its GDP (PPP) reached 32%, as opposed to the G7’s 29%.

That isn’t the only area where the two sides have seen increased challenges. According to IM data, BRICS is leading the G7 in four critical areas. That includes the 1.  share of GDP in PPP terms, the share of the 2. world population, 3. global oil production, and their respective 4. contributions to global economic growth.

The BRICS group has seen its share of the world’s population reach 45% following its most recent expansion. Alternatively, the G7 only boasts 30% of that population. This clearly identifies the collective of people for which the Western economic systems do not benefit.

Moreover, oil production is dominated by BRICS. The group has 41% of all production, whereas the G7 only boasts 29%. This is affected by the inclusion of the UAE and the cooperation of Saudi Arabia. Although Riyhad has yet to join the bloc, it recently invested $5 billion to increase its partnership with the collective.

Finally, the BRICS group leads in the contribution to global economic growth. The BRICS contribute 44% to the G7’s 20% another indication of the changing guard. With continued expansion, and growth forecasts for participating countries, this gap should only continue to widen.

@ Newshounds News™

Source:  Watcher Guru

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News, Rumors and Opinions Wednesday AM 9-18-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Wed. 18 Sept. 2024

Compiled Wed. 18 Sept. 2024 12:01 am EST by Judy Byington

Tues. 17 Sept. 2024 BREAKING! White Hats Lead the Greatest Sting Operation Ever—Military Units Mobilize Worldwide to Wipe Out the Globalists! … (JFK Jr.) on Telegram

GESARA’s promised wealth transfer—the biggest in history—is here. This isn’t just money; it’s the liberation of trillions of dollars from the secret vaults of the elites. The old financial system, built to enslave humanity, is crumbling. Wealth will be returned to the people where it belongs. Prepare now—secure your assets and align yourself with the truth. This is the moment we’ve been waiting for!

Stay vigilant. The storm is coming and we’re closer than ever to victory. Share this with everyone. The truth must spread like wildfire. The world is waking up, and we will WIN!

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Tues. 17 Sept. 2024 Bruce:

Bond Holders are getting funds into their accounts right now and will have access to those funds Thurs. or Friday.

Tier4b (us, the Internet Group) will be notified at the same time as Tier 3.

Redemption Center people in charge of getting emails to Redemption Center leaders will be sending those emails around 6pm EST tonight Tues. 17 Sept.

Tier4b should get 800 numbers by 12 noon Wed. 18 Sept. 2024.

SS increases will be here by the end of Sept.

R&R will come out in September. Our R&R will be in our account at our appointment.

When we are notified we can use that information to set our appointments and could possibly go to exchange that same day.

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Tues. 17 Sept. 2024 Wolverine: “Things are defiantly happening behind the scenes. We are going to be celebrating this week. There are things that I can’t say, but I wanted you to know that things are defiantly moving.” … “I agree with Mr Salvage report on German Bastidas who is one of the leaders of the Pentecostal Group. They have now finished all the contracts with the Call Centers which are located in Brazil. On Mon. 16 Sept. 2024 notifications began to be delivered. On Tues. 17 Sept. 2024 they will close the platforms and be ready to begin start the blessing. They will begin sending the transactions from the 1st to the 2nd of October to each member.”

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Tues. 17 Sept. 2024 Golden Redemption: The Birth of USN US Note Backed by QFS Gold-Backed Digital Currency …Charlie Ward on Telegram

The collapse of the fiat system has been a long time coming. Historically, fiat money, which lacks intrinsic value, became the global standard in the 20th century. This shift allowed governments and central banks to print money freely, unbound by the tangible value of precious metals. Over time, this led to rampant inflation, economic bubbles, and numerous financial crises. The 2008 financial crisis, fueled by reckless lending practices and inadequate oversight, exposed the vulnerabilities of the fiat system. Governments responded by printing even more money, further eroding the value of currencies and deepening the crisis of confidence.

In the wake of the 2008 crisis, digital currencies like Bitcoin emerged, offering a decentralized alternative free from the grip of central banks and government control. However, these digital currencies were not without their own issues-high volatility, lack of intrinsic value, and associations with i*****l activities limited their ability to truly replace the flawed systems they sought to disrupt.

Enter the USN US Note, a new currency that promises to bridge the gap between the stability of traditional assets and the innovation of digital finance. As the sun rises over the horizon, casting its golden hue across the land, the USN US Note emerges like a phoenix from the ashes of a broken financial system. This currency is more than just a means of exchange; it is a symbol of financial redemption, a return to an era where money was backed by real value-gold. The USN US Note, backed by the Quantum Financial System (QFS) and the undeniable value of gold, stands as a beacon of hope against the backdrop of economic despair and deceit that has plagued us for generations.

For far too long, our financial systems have been mired in manipulation, deceit, and instability. The fiat currency system, with its lack of intrinsic value, has led us down a path of endless debt and economic uncertainty. Central banks, with unchecked power, have manipulated markets, eroded savings, and fostered financial inequality. But now, with the advent of the USN US Note, there is a bold departure from this flawed past.

At the core of the USN US Note’s promise is the Quantum Financial System (QFS), a revolutionary financial network that utilizes quantum computing technology to ensure the highest levels of security, transparency, and efficiency. Unlike traditional financial systems, which are susceptible to hacking, fraud, and manipulation, the QFS is virtually impenetrable. It guarantees that every transaction is secure, transparent, and immutable, restoring trust in our financial systems.

The cornerstone of the USN US Note is its gold backing. Each note is backed by a specific amount of gold, ensuring that it retains intrinsic value. This gold-backed stability provides a safeguard against inflation, making the USN US Note a reliable store of value. It embodies a time-honored principle: money should be grounded in real, tangible assets. By merging the stability of a gold-backed currency with the efficiency and transparency of digital systems, the USN US Note addresses the shortcomings of both fiat and digital currencies.

This new currency represents not just a financial instrument but a revolution in how we perceive and interact with money. The USN US Note, underpinned by the QFS, is set to redefine the future of finance, offering stability, transparency, and true economic redemption. A new era in finance has dawned, bringing with it the promise of a stable and prosperous future.

Read full post here:  https://dinarchronicles.com/2024/09/18/restored-republic-via-a-gcr-update-as-of-september-18-2024/

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

Mnt Goat  Article:  "AFTER THE DECLINE IN OIL, A GOVERNMENT ADVISOR: WE HAVE THE CAPABILITIES TO CONFRONT THE PROBLEMS OF THE GLOBAL ECONOMY"  I consider this one of those WOW! articles.  Quote: “the highest reserves in the country’s monetary and financial history” also “the growth indicators in the non-oil GDP have touched 6%”  WOW!

Lnu  I do not buy this "Education Program" nor do I buy the "Adjusting of the Parallel Market". The education is taking too long to be effective and it isn't government's job to adjust black markets. These are stall tactics while they placate the masses.  But why?..

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EMERGENCY: Record Breaking $1 TRILLION Spent to Pay Interest on National Debt as Deficit Soars

Lena Petrova:  9-18-2024

https://www.youtube.com/watch?v=qLfKxR7e8rU

Fed Rate Cut: Can They Engineer a Soft Landing?

Danielle DiMartino Booth:   9-18-2024

Danielle DiMartino Booth, former Federal Reserve insider and economic expert, dives into the controversial Fed rate cut 2024 decision and the growing signs of a looming recession. She explores the debate around whether the Fed should cut rates by 25 or 50 basis points and discusses the key recession indicators already flashing red.

https://www.youtube.com/watch?v=fN5JlULrP-4

“Tidbits From TNT” Wednesday Morning 9-18-2024

TNT:

Tishwash:  Is the decline in oil prices related to the rise in exchange rates? An "important" clarification from Al-Alaq

The Governor of the Central Bank of Iraq, Ali Al-Alaq, announced today, Wednesday, that all transfers are subject to auditing processes, while he indicated that the decline in oil prices has nothing to do with the rise in the exchange rate.

Al-Alaq told the official agency, which was followed by "Al-Eqtisad News", that "the Central Bank provides the dollar at the official price to all commercial and personal channels, travelers, and all types of operations that represent legitimate activities, operations, and requests." 

He pointed out that "any price outside the country is a price that only indicates the existence of abnormal operations that attempt to deviate from the official and legal system and the correct fundamental channels," stressing the need to "focus on the amount of sales carried out by the Central Bank at the official price and those seeking the dollar, whether they are traders, importers, individuals or travelers."

He pointed out that "methods have been put in place for each channel to secure the provision of dollars on the one hand, and a very large degree of oversight to verify the integrity of the pre-operations before they are implemented," noting that "this is a major shift in foreign transfer operations, as they were previously audited at a later stage, and today all transfer operations are not carried out or implemented except after they are subject to the auditing process."

He explained that "the decline in the price of oil has nothing to do with the rise in the exchange rate because Iraq has foreign currency reserves that enable it to defend the exchange rate  link

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Tishwash:  Qaani arrives in Baghdad and immediately meets with political leaders and armed factions

An informed political source reported on Tuesday that the commander of the Iranian Quds Force, Ismail Qaani, arrived in the Iraqi capital, Baghdad.

The source told Shafaq News Agency that Qaani, upon his arrival, engaged in holding "individual and collective" meetings with the leaders of the armed factions loyal to Iran.

The source explained that Qaani met with political leaders and factions, led by the head of the Badr Organization, Hadi al-Amiri, the Secretary-General of Asaib Ahl al-Haq, Qais Khazali, the commander of the Iraqi Hezbollah Brigades, Hussein al-Hamidawi, and others.  link

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Tishwash:  Parliamentary Finance Committee discusses proposal to establish sovereign fund

The Parliamentary Finance Committee announced, on Monday, discussing a proposal to establish a sovereign fund.

The media department of the House of Representatives stated in a statement, which was reviewed by "Al-Eqtisad News", that "the head of the Finance Committee, Atwan Al-Atwani, chaired a deliberative meeting of the committee in the presence of a number of its members, to discuss a number of important topics and files."

The statement added that "the meeting reviewed the outcomes and indicators of previous meetings with government agencies regarding maximizing non-oil revenues, where it was agreed on the next steps by submitting a detailed report to the government on the sources of deficiency, especially in the electricity, tax, customs and other major financial outlets sectors."

The statement continued, "The committee discussed a number of proposals that would maximize financial revenues, including the legislation of special laws on taxation, in addition to forming a committee to conform to standards, which would review the estimation of planned revenues for state institutions."

The statement continued, "The committee discussed a proposal to establish a (sovereign fund) similar to rentier countries, in order to confront fluctuations in global oil prices or any financial crisis, provided that the fund is financed from the budget surplus achieved in circumstances of economic and financial prosperity."

The statement concluded, "The meeting also discussed the laws referred to the Finance Committee as a supporting committee, where Al-Atwani stressed that the committee will have an opinion and a fundamental role in legislating these laws, especially those related to economic reform and others link

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Tishwash:  Al-Nusairi identifies the challenges facing Iraqi private banks and opportunities for banking reform

Iraqi private banks suffer from many challenges and work obstacles, and face wide crises and risks due to economic instability due to the challenges of instability in the financial and monetary system, shortcomings in the investment environment, and deficits in the balance of payments and trade balance.

Iraq has eight government banks, and the structure of the Iraqi private banking sector consists of 32 Islamic banks and 28 commercial banks. 

Advisor to the Iraqi Private Banks Association, Samir Al-Nusairi, told Al-Eqtisad News, "The number of private bank branches is about 500 branches inside and outside Iraq, and they have expanded and developed technically according to modern electronic banking systems."

Al-Nusairi pointed out that the private banking sector in Iraq faces operational challenges in addition to those mentioned above, most notably the US sanctions and restrictions imposed on 51% of the total private banking sector in Iraq and the prevention of 28 of them from using the US dollar in banking transactions, which affected their local and international activities and harmed the national economy.

He explained that the most important obstacles facing banks currently are technical, financial and administrative, especially in the procedures, instructions and decisions of digital transformation, which requires providing full support for this transformation process and using electronic payment tools in government, mixed and private institutions, and setting a time frame for the complete transition from the use of paper money to electronic payment.

He added that the private banking sector suffers from the differentiation between it and the government banking sector, as government banks account for 87% of total deposits and 78% of total assets, and it also suffers from weak activity and low liquidity, deposits, revenues and profitability in most banks, especially the 32 banks that have been subject to sanctions and restrictions, in addition to the decline in the shares of most banks in the trading market in the Iraq Stock Exchange.

 Al-Nusairi added that private banks also suffer from double taxation, as the Tax Department in the Kurdistan Region of Iraq, for example, imposes on the branches of private banks in the region (their number exceeds 70 branches) to pay the annual tax, while these banks, according to the current Federal Tax Authority Law, pay the same tax centrally in Baghdad.

Al-Nusairi stressed the necessity for the Iraqi Council of Ministers to resolve the issue in the region and put an end to double taxation, and for tax collection to be centralized according to the law and for the audited final accounts submitted to the General Tax Authority to be adopted as a basis for tax accounting.

The advisor to the Iraqi Private Banks Association called for "implementing the seven decisions issued on 4/4/2024 in implementation of the directives of Prime Minister Mohammed Shia al-Sudani, which are related to supporting our private banks, which confirm the government's vision in its governmental program for financial and banking reform, as well as activating and accelerating the implementation of the agreements that were reached in the rounds of negotiations between the Central Bank and the US Treasury in Washington and Baghdad to lift US restrictions on the use of the US dollar."

He explained that "the Prime Minister's decisions supporting private banks outlined the executive procedures for comprehensive reform of the banking sector, which constitutes the basis and real beginning of the accomplished economic reform. These decisions included the following: 

1- Preventing monopoly in banking services.

2- Activating the Central Bank’s financing initiatives.

3- Increasing cooperation between private banks and the Central Bank in discussing decision-making related to supporting and developing banking work.

4- Determining the contribution of foreign capital to Iraqi banks.

5- Participation of government institutions and financing funds with private banks and expansion by opening branches in countries. 

Other.

6- Support from the government and the Central Bank to private banks in foreign institutions and banks.

7- Increasing reliance on private banks by the Iraqi state and activating the deposit of government deposits and government bank deposits with private banks.

 Al-Nusairi stressed that implementing the decisions, which are practical applications to encourage private banks to develop their internal and external banking operations, will contribute to economic reform, pointing out “the importance of the Central Bank accelerating the procedures to rehabilitate and restructure these banks, as well as the necessity for the international auditing company to complete its agreed-upon work in order to lift the imposed restrictions and limitations.”

He concluded his speech by saying: "This file is certainly the focus of the government's interests, the Central Bank, the Iraqi Private Banks Association, and the banking sector in general.  link

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Mot: 23 out of 24 -- Noooo wonder my Body Aches!!! Siigghhhhhh  You might be old

Mot:  . Say - What -- ain't getting better!!! Siiiggghhhh  Men evolved

Seeds of Wisdom RV and Economic Updates Tuesday Evening 9-17-24

Good Evening Dinar Recaps,

RIPPLE NEWS: XRP LEGAL FIGHT CONTINUES AS LAWYER TARGETS SEC FOR $15B LOSSES

▪️Pro-XRP attorney and Senate candidate John Deaton accused the SEC of causing over $15 billion in financial losses to small investors.

▪️He has been vocal about the negative impact of the SEC’s regulatory approach on retail investors and plans to challenge its practices while campaigning against Democratic Senator Elizabeth Warren.

John Deaton, a popular attorney known for his pro-XRP stance, has raised serious allegations against the U.S. Securities and Exchange Commission (SEC). He blamed its crypto regulatory approach and its actions caused substantial financial losses among small investors. Senate candidate Deaton also claims that the SEC’s enforcement actions have caused damages exceeding $15 billion to retail investors.

These allegations come at a time when the SEC has reportedly given up on the appeal while concluding it with a new crypto classification, reported CNF.

XRP Lawyer John Deaton Criticizes The SEC
In a recent post on X (formerly Twitter), he accused the regulatory body of “misconduct.” “The SEC’s misconduct and gross overreach caused small investors over $15 billion,” Deaton stated. He added, “On behalf of those 75,000 small investors I represented, we do not accept the SEC’s apology.”

The pro-XRP lawyer has been vocal about the detrimental effects of the SEC’s regulatory practices, particularly on smaller retail investors.

He has consistently criticized the commission’s abuse of power against crypto. Hence, the XRP lawyer plans to fight the SEC head-on. Moreover, his campaign for the U.S. Senate seat in Massachusetts highlights his concerns about the agency’s lack of accountability.

Thus, he plans to challenge the anti-crypto Democratic Senator Elizabeth Warren, accusing her of being unwilling to scrutinize the SEC’s actions. Deaton also referenced a Writ of Mandamus he filed in early 2021.

He accused the SEC of violating decades of legal precedent by declaring tokens themselves as securities in the 2021 filing. The pro-XRP attorney also maintained that this move went beyond the agency’s authority and created unnecessary confusion.

The lawyer also highlighted his frustration over the SEC’s failure to provide clear regulation. “All I asked was for the SEC to honor the law and make clear that the token itself (XRP) was NOT the security,” Deaton said. In addition, he went on to accuse the agency’s lawyers of targeting him personally during the legal proceedings.

Other Related Developments
In a related development, Paul Grewal, Coinbase’s Chief Legal Officer, shared a court filing suggesting a shift in the SEC’s stance on cryptocurrencies. According to the proposed amendment in the Binance lawsuit, the SEC admitted it no longer considers tokens to be securities, reported CNF.

This marks a major change from its previous position, particularly in relation to XRP, which had been classified as a security in 2020. “The SEC regrets any confusion it may have invited,” the agency stated in the filing.

However, the SEC’s regulatory actions continue with a recent settlement with the trading platform eToro, per the CNF report. The platform agreed to cease trading most cryptocurrencies in the U.S. and pay a $1.5 million fine. However, this move attracted significant backlash as the agency apologized for considering tokens as securities within 24 hours of the amended Binance lawsuit complaint.

Meanwhile, data from Social Capital Markets indicates the total monetary penalties imposed on cryptocurrency firms this year have reached $4.7 billion. It marks a humungous 3,000% rise from the previous year. This included one of its largest enforcement actions wherein the SEC settled a case with Terraform Labs for $4.47 billion.

@ Newshounds News™

Source:  Crypto News Flash 

Visit, Like and Subscribe to Seeds of Wisdom Team Currency Facts 

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Global News:

DBS bank to launch crypto options, structured products

In Q4 of this year DBS bank (Singapore) plans to offer over the counter (OTC) cryptocurrency option trading and structured notes. This will only be available to certain institutions and high net worth clients.

Based on the descriptions, it will support options settled in cash and others through delivery of the underlying cryptocurrency, with only Bitcoin and Ethereum supported.

Currently clients can already trade spot crypto using the DBS Digital Exchange (DDEx). The bank was one of the first in the world to offer spot cryptocurrency trading services when it launched DDEx in 2020. Now clients where DBS provides crypto custody will be able to hedge their exposures using options.

“Professional investors are increasingly allocating to digital assets in their portfolios,” said Jacky Tai, Group Head of Trading and Structuring, Global Financial Markets, DBS. 

“Now, our clients have an alternative channel to build exposure to the asset class and incorporate advanced investment strategies to better manage their digital asset portfolios.”

@ Newshounds News™

Read More:  Ledger Insights

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GOLD News:

Zimbabwe aims to maximize gold revenue amid global demand surge

MINES ministry has launched the 2024 Second Gold Mobilisation exercise, aimed at ensuring compliance and maximizing revenue from the gold mining sector.

Reports indicate that gold output is projected at 39 tons in 2024 up from around 33 tons in 2023, largely on the back of ongoing expansion projects and favorable prices.

Gold revenues are expected to surpass US$3 billion in 2024.

Average capacity utilization for the gold sector is expected to reach 95% in 2024 up from 84% in 2023.

The second gold exercise will be conducted in all eight provinces, targeting both large-scale and small-scale miners in order to maximize gold revenue amid global demand surge.

Speaking at the send-off workshop in Harare, Mines minister Winston Chitando said, “It is imperative to note that gold has long been a source of wealth and prosperity for Zimbabwe, and it holds immense potential to fuel our economic growth, create jobs, and improve the lives Zimbabweans.

“The global demand for gold is on the increase as the world is turning to gold as a safe haven.”

He highlighted the global demand for gold, which has driven prices up from $1,900 in September 2023 to $2,500 currently.

“The key to realizing our 2024 gold deliverance target of 35 tonnes is plugging leakages to side markets,” he told the media.

The minister noted that illegal gold extraction and trade undermine Zimbabwe’s efforts to reap benefits from its gold resources.

To address this, he expressed the importance of ensuring that all mined gold is traded through legitimate channels.

He reiterated that Zimbabwe’s currency is anchored on gold, making it crucial that all gold trades occur through Fidelity Gold, the country’s sole authorized exporter.

“The gold neutralization exercise has yielded positive results, demonstrating its effectiveness. Given its significant contribution, the gold sector remains vital to Zimbabwe’s national economic development.

“Gold deliverance through Fidelity Gold Refinery stood at 30.1 tonnes in 2023, with 20.7 tonnes delivered from January to August 2024.

“To the teams, colleagues who are being deployed today, this intervention is of paramount importance, and I wish you all the success,” he said.

The gold mobilization exercise aims to increase revenue, create jobs, and combat illegal gold trading.

@ Newshounds News™

Source:   New Zimbabwe

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THIS IS BIG:

XRP AND INTERLEDGER PROTOCOL KEY TO SOLVING CURRENT ISSUE OF DISCONNECTED FINANCIAL NETWORKS.  |  Youtube

@ Newshounds News™

Source: Seeds of Wisdom Team Currency Facts    

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Newshound's Currency Facts Youtube and Rumble

Newshound's Podcast Link

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Q & A Classroom Link  

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Subscribe to Newsletter

Thank you Dinar Recaps

Economist’s “News and Views” 9-17-2024

Prepare for the Biggest Global Debt Collapse in History – Gold’s Time Is Now! - Francis Hunt

ITM Trading:  9-17-2024

Francis Hunt, the Market Sniper, warns of an impending global debt collapse that could surpass any financial crisis in modern history. Drawing comparisons to past events like the Vietnam War overspend and Nixon’s 1971 gold standard shift, Francis explains why this collapse will be more severe and why gold is the key to protecting your wealth.

He also discusses how future interest rate cuts and currency devaluation will make gold even more valuable as a safe haven. If you're concerned about the economy, this video offers crucial insights on securing your assets.

https://www.youtube.com/watch?v=VnWOfcTf5Kg

LIVE! TOMORROW THE DESTROYER COMETH. IS GOLD ABOUT TO BREAKOUT TO $4,000? Maybe Higher?

Greg  Mannarino:  9-17-2024

https://www.youtube.com/watch?v=gfc2SZO09Kk

FED Rate Cut: Last-Ditch Effort Before Total System Failure

Taylor Kenny:  9-17-2024

The storm is here, and it's not just about rate cuts. From the dollar’s devaluation to hidden inflation costs, I break down the truth the Fed won’t tell you.

CHAPTERS:

00:00 - The Brewing Economic Storm

00:38 - The Illusion of Rate Cuts

01:15 - Affordability Crisis: Then vs. Now

 02:28 - The Dollar’s Shrinking Power

03:47 - The Hidden Costs of Inflation

04:59 - Credit Card Debt & Government Spending

 07:05 - The Federal Reserve's Contradictions

08:12 - Gold: The Key to Real Wealth

https://www.youtube.com/watch?v=_znD8Xwi4l0

Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 9-17-24

Good Afternoon Dinar Recaps,

BRICS NEWS

RUSSIA SET TO TRIAL CRYPTO FOR TRADING GOODS WITH MILITARY APPLICATIONS: REPORT

The Russian government has formed a focus group to trial crypto payments for foreign trade, focusing on importers of goods with potential military applications.

Russia has established a focus group under an experimental legal regime to explore the use of crypto for foreign trade payments, Russia’s Vedomosti newspaper reported on Sept. 17. The initiative reportedly aims to address challenges faced by importers dealing with dual-use goods, which have both civilian and military applications, and are subject to strict international payment restrictions.

The move follows China’s announcement in early August that it will ban the export of all unregulated civilian drones, which have become increasingly used in military warfare in recent years, starting Sept. 1.

According to the report, the focus group includes members from the Russian Chamber of Commerce and Industry and the Association of Developers and Producers of Electronics, alongside several banks, though the report did not specify whether the group included Russian banks only or involved foreign financial lenders as well.

The initiative is designed to assist importers struggling with transactions to banks in China and other countries due to the sensitive nature of their goods. This move follows recent reports that Russia’s two largest unsanctioned metal producers have begun using Tether’s stablecoin for cross-border transactions with Chinese clients and suppliers, in response to U.S. Treasury Department warnings about secondary sanctions.

Now, people familiar with the matter reportedly say that participants in the focus group were selected based on their business turnover, with larger companies prioritized. The Russian government plans to expand the initiative in the future, though the timing for a broader rollout remains unclear.

In early July, Alexei Guznov, deputy governor of Russia’s central bank, indicated in a media interview that the Bank of Russia is exploring the legalization of stablecoins for cross-border transactions.

Guznov noted that the initiative could potentially transition from a temporary experiment to a permanent regulatory framework, although specifics regarding the timeline for approval were not disclosed.
@ Newshounds News™ Watch the Global QFS Unfold

Source:  Crypto News Flash  

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BRICS News

BRICS MAKES MAJOR ANNOUNCEMENT ON NEW PAYMENT SYSTEM

BRICS is working towards the creation of a new payment system without the integration of the US dollar in its mechanism, confirmed Russian Foreign Minister Sergey Lavrov. The minister added that the new payment system will not only be used to settle cross-border transactions, it will act as a complete financial set-up.

The development, when launched, could attract emerging economies towards it making a shift away from the US dollar. The new BRICS payment system could lead to a paradigm shift in the global financial sector.

New BRICS Payment System To Include Trading, Investing & Settlements

The Russian minister revealed that the new BRICS payment system will be equipped with trading, investing, and along with trade settlements. He explained that the mechanism will allow countries to partake in financial operations without being dependent on the US dollar. The move will make the alliance’s quest of de-dollarizing their economies much stronger.

Lavrov also hit out at the US and Europe for pressing sanctions on countries they don’t like. He stressed that the sanctions are what led to BRICS decision on launching a new payment system. Even US Treasury Secretary Janet Yellen acknowledged that the White House sanctioning developing nations led to de-dollarization.

“Many are attracted by the fact that payment systems are being developed within BRICS. Which allows trading, investing, carrying out other economic operations without being dependent on those that decided to weaponize the dollar and the euro,” the foreign minister said.

The minister added that developing nations will flock to the BRICS payment system in fear of US sanctions. “Everyone understands that anyone may face US or other Western sanctions,” he said during a meeting with Egyptian counterpart Badr Abdelatty.

@ Newshounds News™  Watch the Global QFS Unfold

Source:  Watcher Guru

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DE-DOLLARIZATION: HOW THE US IS HELPING CHINESE YUAN TO SUCCEED

De-dollarization is the most buzzing word in the global financial sectors across Asia, Africa, and South America. Emerging economies are focusing on lifting their local currencies on the global stage by ending reliance on the US dollar. The US sanctions are what pushed the de-dollarization agenda ahead and China made use of the opportunity to include the Chinese yuan for trade settlements.

The development puts the USD in the spotlight as developing countries no longer want to give importance to the currency. Amid the US and Western sanctions on emerging economies, the Chinese yuan is becoming the most used currency in their countries. From Russia to Pakistan and the UAE, the Chinese yuan is being widely accepted as the de-dollarization initiatives advance rapidly.

The Chinese Yuan Benefits From De-Dollarization

The US Treasury Secretary Janet Yellen confirmed that the US sanctions opened the floodgates of de-dollarization across the world. The move made China fill in the void and the Xi Jinping administration convinced developing countries to use the Chinese yuan. The de-dollarization initiative is partially a success as the Chinese yuan is the most used currency in Russia.

“Trading in Chinese yuan is convenient for both Russia and China,” said Maia Nikoladze, Associate Director at the Atlantic Council. “Russia does not have too many other currency alternatives.

While China benefits from exerting more economic influence over Moscow, and also makes progress towards internationalizing the yuan,” said the analyst. The move indicates that the US opened the gates of de-dollarization by itself through sanctions.

Even Brazil, Argentina, South Africa, and Saudi Arabia are looking to follow Russia on the de-dollarization path. These countries are accepting the Chinese yuan as payment for cross-border transactions, which was not the case a few years ago. De-dollarization is a serious risk to the US economy while the Chinese yuan is looking to dominate the financial world.

@ Newshounds News™   Watch the Global QFS Unfold

Source:   Watcher Guru

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XRP on Path to Global Reserve Key Insights    Youtube

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People aren’t seeing the real de-dollarization

People aren’t seeing the real de-dollarization

Mike Maharrey   09/16/2024 16:42:29 GMT

It’s not a “black swan” event. In fact, it’s playing out right before our eyes and was entirely predictable. The world is slowly but surely spurning the dollar.

But most people haven’t noticed.

De-dollarization might seem like a wild conspiracy theory, but it is happening. Countries worldwide are trying to limit their exposure to the greenback, and the dollar’s clout is slowly ebbing.

No, the dollar isn’t on the verge of collapse due to a major trauma. It’s more like death by a million papercuts.

Nassim Taleb, best known for his book The Black Swan, said in a post on X that “people are not seeing the real de-dollarization in progress.” He pointed out that global transactions are still generally labeled in dollars “as an anchor currency.” 

“But central banks (particularly BRICS) have been storing, that is putting their reserves, in Gold.”

In other words, the dollar still serves as the primary medium of exchange, but more and more countries are turning to gold as a store of value. As author Richard Turrin put it, “The US will tout the USD’s high percentage use in trade all the way to the bottom.”

Turrin pointed out that the “dollar’s high percentage in trade settlements is increasingly meaningless” for two reasons.

Gold holdings show reserve storage.

Migration of trade to alternate currencies isn’t captured on SWIFT statistics.

This trend toward storing wealth in gold instead of dollars makes sense given the U.S. government’s persistent evaluation of its currency that seems to be accelerating.

Luke Gorman, founder and president of Forest for the Trees confirmed Taleb’s point with a graph, noting that this de-dollarization trend has been in play for more than a decade and “got much louder post-2022 sanctioning of Russian FX reserves.”

In fact, dollar reserves globally have dropped by 14 percent since 2002. And as the graph shows, de-dollarization accelerated after the U.S. and her Western allies aggressively sanctioned Russia and froze the country’s assets after it invaded U*****e.

Geopolitical and financial analyst Angelo Giuliano posted the same graph asserting, “De-dollarization is happening.”

“The US dollar Ponzi scheme is collapsing…the US exorbitant privilege to print endless amount of paper toilet currency is over.”

He noted that gold hit yet another all-time high on Sept. 12, saying, “This is only the beginning.”

Dollar weaponization undermining the Dollar

All of these experts confirm that the United States’s weaponization of the dollar is undermining its strength and role as a reserve currency.

A recent Atlantic Council report on the falling percentage of dollar reserves pointed out dollar weaponization was a factor behind this trend.

“In recent years, and especially since Russia’s invasion of U*****e and the Group of Seven (G7)’s subsequent escalation in the use of financial sanctions, some countries have been signaling their intention to diversify away from dollars.”

The U.S. and its allies not only froze Russian assets, but they also locked the country out of the SWIFT financial system.

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) system serves as the global economy’s superhighway. In effect, it operates as a global financial messaging service, facilitating cross-border payments. Since the dollar serves as the world reserve currency, SWIFT effectively facilitates an international dollar system.

This gives the U.S. a great deal of leverage, as the Russians discovered.

This wasn’t the first time the U.S. used SWIFT and the dollar as a stick to advance its foreign policy goals. In 2014, the O***a administration locked several Russian financial institutions out of SWIFT as relations between the two countries deteriorated over U*****e and Crimea.

Whether you think the sanctions were justified or not, it’s important to remember that other countries are watching. They realize that dependence on dollars makes them vulnerable to

U.S. manipulation and this is one of the reasons many countries are trying to diversify away from the USD.

Think about it — if you are concerned that the U.S. could pull the “dollar rug” out from under you, why not pull out from the dollar system first?

This appears to be what is slowly happening. Again, it is d***h by 1 million paper cuts.

According to a 2023 Invesco survey, a “substantial percentage” of central banks expressed concern about how the U.S. and its allies froze nearly half of Russia’s $650 billion gold and forex reserves.

Central banks turning to Gold

We see this shift toward gold in persistent central bank gold buying.

According to the most recent World Gold Council survey released in June, 29 percent of central banks plan to add more gold to their reserves in the next 12 months. The WGC said it was the highest level since the survey began in 2018.

Only 3 percent said they had plans to decrease gold reserves.

Earlier this year, the World Gold Council said the continuation of gold buying supports its expectation that “2024 will be another solid year of central bank gold demand.”

“Last year central banks placed great emphasis on gold’s value in crisis response, diversification attributes, and store-of-value credentials. A few months into 2024 the world seems no less uncertain meaning those reasons for owning gold are as relevant as ever.”

Last year, central bank gold buying fell just 45 tons short of 2022’s multi-decade record.

According to the World Gold Council, central banks net gold purchases totaled 1,037 tons in 2023. It was the second straight year central banks added more than 1,000 tons to their total reserves.

Central bank gold buying in 2023 built on the prior record year. Total central bank gold buying in 2022 came in at 1,136 tons. It was the highest level of net purchases on record dating back to 1950, including since the suspension of dollar convertibility into gold in 1971.

The skyrocketing price of gold confirms the wisdom of these central bankers. And it is a tangible sign that the dollar is losing value – and status.

Source: FXStreet

https://dinarchronicles.com/2024/09/17/people-arent-seeing-the-real-de-dollarization-that-is-happening/

News, Rumors and Opinions Tuesday 9-17-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Tues. 17 Sept. 2024

Compiled Tues. 17 Sept. 2024 12:01 am EST by Judy Byington

Mon. 16 2024 Quantum Financial System Goes Live: Over 130 Countries Confirmed in the Military-Secured, Gold-Backed QFS as the Global Currency Reset (GCR) Unfolds! …Ben Fulford on Telegram

The QFS isn’t just secure; it’s untouchable. With military-controlled satellites and quantum encryption, this system is light years ahead of anything the elites have in their arsenal. It’s operating far above Earth, out of reach from any possible threat, ensuring total invulnerability.

Every transaction, every asset is tracked, verified, and secured by quantum encryption. No hacker, no agent, no elite can break through. The QFS operates on its own terms, and those terms are non-negotiable.

Over 130 countries are now aligned with the QFS. Their currencies, gold-backed, are replacing worthless fiat paper, and the elites are powerless to stop it. Quantum satellites are in place, military units are deployed, and the asset-ledger is operational. The QFS is invincible, and every day, more assets are seized from the deepstate and locked into the QFS.

As of September 15th 2024, the QFS is fully operational, and its reach expands daily. The old guard is finished, and they know it. The reset is here, and it’s happening right now.

This is a total financial takeover. The Quantum Financial System is not just a system—it’s the new reality. The days of covertt banking, hidden wealth, and fiat fraud are over. The QFS is rewriting the rules. Those who don’t see what’s coming are about to be left in the dust.

This isn’t just the dawn of a new financial system—it’s the dawn of a new world.

~~~~~~~~~~~

Global Currency Reset:

On Mon. 16 Sept. at 8pm EST President Trump announced the launch of World Liberty Finance. It was believed this was the precursor to the announcement of the Global Currency Reset, where The People would have their own individual and secure bank account of which no banker, or anyone else, had control. Mon. 16 Sept. 2024: Trump Announces World Liberty Financial Crypto Exchange: https://www.cbsnews.com/news/trump-world-liberty-financial-crypto-exchange-what-to-know/ 

Mon. 16 Sept. 2024 TNT Tony: New rates seen on Bank Screens – Not the higher Redemption Center Rates: Dinar $3.41, Dong $.47, Rupiah $1.08, Zim $30 million per $100 trillion note, Bolivar $.30 per billion.

Mon. 16 Sept. 2024 Wolverine: “I was told this morning that the new rates presently put on the Bank Screen are not actual new bank rates. They are used for investments. The Bond Holders that I speak to are very happy that everything is completed. Some Bond Holders have been notified and gone to Reno, Columbia, Miami. I’ve been told we would get some good news either today or tomorrow Tues. 16 Sept. If you are only using a Humanitarian Project to use a Med Bed then it’s not going to work for you. You have to be truly committed to a Humanitarian Project in order to get the funds.”

Mon. 16 Sept. 2024: Quantum Financial System Goes Live: Over 130 Countries Confirmed in the Military-Secured, Gold-Backed QFS as the Global Currency Reset (GCR) Unfolds! – Gazetteller

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Global Financial Crisis:

Mon. 16 Sept. 2024: BOOOM! US Debt Clock: Hidden Wealth! Transitioning from a Debt-Based System to a Credit-Based System (video) – amg-news.com – American Media Group

Read Full Post here:  https://dinarchronicles.com/2024/09/17/restored-republic-via-a-gcr-update-as-of-september-17-2024/

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

Militia Man  The development Road Project is opening up Iraq to the region and into the international world.  The private sector is going to be the main driving force...They're going to have to expose an exchange rate at some point in time, sooner than later.  I'm going to go with sooner.

Fnu Lnu   When you drag out the "Education" as long as the GOI and CBI has been doing, nothing sticks. If it is not in practice, then it is just words from the mouths of bureaucrats. Iraq has had more than enough of that and they do not pay attention. They will become educated when it means something to them, like the cost of goods and services, and buying power, and velocity of money. This is all obfuscation and I don't believe a word of it. Logic tells me they are stalling the people. The $64,000.00 dollar question is why? What's the real plan?

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Urgent News Iraq Russia ePayment System Indian Rupee

Edu Matrix:  9-17-2024

Urgent News Iraq Russia ePayment System Indian Rupee

https://www.youtube.com/watch?v=2dtANq0pWSE

Gold Rockets, Dollar Dying -- Emergency Rate Cut To 0%? | Rafi Farber

Liberty and Finance:  9-16-2024

Rafi Farber shares his insights on the recent surge in gold prices, attributing it to the declining value of the U.S. dollar.

 Farber discusses the potential for dramatic fluctuations in stock and commodity prices, particularly in gold and silver, if the Fed were to cut rates to zero unexpectedly.

 He also addresses the concept of a gold short squeeze, noting the record levels of short contracts and the implications for future market movements.

Farber further examines the current state of silver, highlighting the possibility of significant price increases if certain market conditions are met.

 Finally, he provides an update on the reverse repo market, emphasizing its role in the broader financial system and its impact on bank reserves.

INTERVIEW TIMELINE:

0:00 Intro

1:30 Gold rally

 5:10 Gold short squeeze

13:18 Banking system

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

Seeds of Wisdom RV and Economic Updates Tuesday Morning 9-17-24

Good Morning Dinar Recaps,

XRP on Path to Global Reserve Status, Expert Reveals Key Insights

▪️Experts highlight XRP’s emerging importance in global finance, positioning it as a potential cornerstone for tokenized cross-border financial systems.

▪️Key institutions like the IMF and World Bank are exploring XRP for asset tokenization, signaling its expanding role in the future of global transactions.

Since March, we have learned about the foundation for XRP’s transition to a global reserve currency. As reported by CNF, experts predict XRP’s crucial role in shaping the future of the global financial system.

According to Versan Aljarrah, co-founder of Black Swan Capitalist, he reiterated on his X account that he strongly believes in XRP’s importance in this transformation.

In a recent tweet, Aljarrah shared a video from Gregory Mannarino, a financial commentator often referred to as the “Robin Hood of Wall Street,” whose views align with Aljarrah’s optimism for XRP’s future.

In the video, Mannarino discusses efforts by major financial institutions, including the International Monetary Fund (IMF), World Bank, and the Bank of International Settlements (BIS), to develop a fully tokenized, cross-border financial system.

 He explains that these organizations are working toward a system that tokenizes all financial assets, positioning XRP as the central medium for trading and settlement.

XRP’s Expanding Role in Asset Tokenization
Mannarino highlights the significant shift in asset management and global transactions as more financial assets are tokenized, enabling seamless tracking and trading. XRP, already a key player in cross-border transactions, could see its role grow if major institutions adopt it for tokenization.

Ripple CTO David Schwartz predicts that the XRP Ledger will host tokenized assets by 2025. Recent announcements, such as the introduction of Tokenized Treasury Bills (T-Bills) on the XRPL, support this forecast.

Growing Interest and Institutional Support for XRP
With global institutions exploring tokenization and blockchain technology, XRP’s utility could expand beyond its current applications. As Mannarino notes, this could position XRP as a key player in the trade and settlement of assets on a global scale, potentially transforming the future of finance.

At the time of writing, Ripple (XRP) is trading at $0.5826, having surged by 2.03% in the past day and 7.89% in the past week.

@ Newshounds News™

Source:   Crypto News Flash 

Listen Here:  Twitter

Listen to:

THE GLOBAL CURRENCY RESET: REVOLUTIONIZING THE FINANCIAL WORLD |  Youtube

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Visit Newshound News for many articles documenting the journey or process of the formation of our new financial system:  Link

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Thank you Dinar Recaps

“Tidbits From TNT” Tuesday Morning 9-17-2024

TNT:

Tishwash:  Al-Sudani announces the imminent end of the international coalition mission in Iraq: We will deal with any American president

 Prime Minister Mohammed Shia al-Sudani announced on Tuesday that the international coalition's mission in Iraq is about to end, while indicating that Iraq will deal with any new American administration.

Al-Sudani said in an interview with the American Bloomberg Channel and Agency: "Iraq is an important country in OPEC and OPEC Plus and is committed to reducing its oil production, and we are committed to OPEC's decisions in a way that maintains oil prices and the equation between the interests of producers and consumers."

He added: "We have two options regarding exporting oil through the port of Ceyhan, either amending the contracts, which was rejected by the companies contracting with the region, or amending the budget law, and this matter requires political consensus."

He continued that "the justifications for the presence of the international coalition in Iraq have ended, and Iraq 2024 is not Iraq 2014," noting that Iraq has shifted from a stage of wars to a stage of stability, and ISIS does not pose a threat to the Iraqi state. Al-Sudani continued:

"We have started a frank dialogue with the international coalition and formed a bilateral committee to arrange the withdrawal of coalition forces, and to announce the end of the coalition forces' mission in Iraq soon," indicating that "the end of the international coalition's mission does not mean the end of the relationship between Iraq and the United States, but rather the opposite, we are engaged in Talks to build sustainable security relations and economic, cultural, social and scientific ties. He added: "We will participate in the international conference of the coalition against the terrorist ISIS."

He added: "We respect the choices of the American people in choosing their president and we will deal with any administration," stressing that "Iran supports the political process and Iraq's efforts in combating terrorism." Al-Sudani concluded that "Iraq is the only country in the region that has distinguished relations with Iran and the United States."  link

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Tishwash:  Iraq signs agreement to revitalize agricultural sector with Austrian Erste Group Bank

Today, Tuesday, Minister of Finance Taif Sami signed a loan financing agreement from the Austrian Erste Group  Bank to support the center pivot irrigation systems project for the Ministry of Agriculture, stressing that this comes within the strategy of bilateral cooperation between the two countries.

The ministry said in a statement received by "Mil", "Finance Minister Taif Sami signed today with the Austrian ambassador to Baghdad a loan financing agreement from the Austrian Erste Group  Bank to support the pivot irrigation systems project for the Ministry of Agriculture, with a value of (262,155,298) euros, and implemented by the Austrian Power Company." 

She explained that "signing the agreement falls within the framework of the government's efforts to enhance infrastructure and improve public services, and this funding is expected to contribute to revitalizing the agricultural sector, alleviating water scarcity, stimulating economic growth and creating more job opportunities." 

She added, "The agreement comes within the strategy of joint bilateral cooperation between the Republic of Iraq and the Republic of Austria, and in implementation of the ministerial program and General Budget Law No. (13) for the years 2023, 2024 and 2025 and Cabinet Resolution No. 24630 of 2024, which focuses on adopting a governing vision for external borrowing for the benefit of investment projects with economic feasibility." 

The Minister of Finance stressed, according to the statement, "the importance of this step in enhancing economic cooperation between Iraq and Austria, and looking forward to more joint projects in the future." 

She pointed out that "the Austrian company Power will provide technical and advisory support to the Ministry of Agriculture during all stages of the project, including design, implementation, operation and maintenance." 

She explained that "the project represents an important step towards modernizing the agricultural sector in Iraq, especially in light of the challenges facing the sector due to water scarcity and climate change, in addition to the fact that this investment will achieve significant economic returns in the long term, by increasing agricultural production and reducing dependence on imports  link

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Cutebwoy:  PM Al-Sudani meets a delegation from Apple Inc.

INA - BAGHDAD

PM Muhammed S. Al-Sudani met on Monday a delegation from Apple Inc., accompanied by the Head of the Communications and Media Commission, Ali Al-Muayyad.

During the meeting, discussions were held around shared topics of interest as the PM highlighted the ongoing digital transformation in Iraq and the work of the Higher Committee for Digital Transformation, which he heads, alongside other committees working in this field, according to a statement by the PM Media Office - received by the Iraqi News Agency - INA. 

He also mentioned Iraq’s evolving status as a 'successful investment environment', with many major companies operating in the country, which requires a rapid digital shift.

The Prime Minister emphasized the importance of enhancing the digital and technological capacities of Iraq's youth, which would expand employment opportunities and support the government’s objectives of completing all transactions through a fully integrated digital environment.

The Apple Inc. delegation proposed initiatives to help develop the skills of young people, focusing on technology developers in collaboration with universities. 

They also suggested working on registering devices that enter Iraq to "ensure competitive pricing," acknowledging the significance of Apple’s products in supporting digital transformations in the economy and financial sectors

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Tishwash:  Talabani calls on Japan to encourage its companies to invest in Kurdistan

Pavel Jalal Talabani, President of the Patriotic Union of Kurdistan, called on Japan to encourage its companies to invest in the Kurdistan Region, stressing the provision of incentives and guarantees to ensure investors.

His media office said in a statement received by Al-Masry that “Talabani received in Sulaymaniyah today the Japanese Ambassador to Baghdad, Matsuo Moto, and the two sides discussed developing relations and expanding the circle of economic and trade coordination in a way that preserves the highest interests.”

Talabani pointed out during the meeting, according to the statement, to “the opportunities available in the Kurdistan Region, including Sulaymaniyah, for capitalists and investors,” indicating that “we provide all facilities to strengthen the economic structures in the Kurdistan Region,” expressing his hope that Japan would play “an influential role in encouraging its companies and businessmen to pump investments into the Kurdistan Region.”

According to the statement, "the two sides discussed developing cultural relations between the Kurdistan Region, including Sulaymaniyah, the capital of culture, with Japan."  link

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Mot:  .. I Say, I Say!!!

Mot:  . Because of Mary! -- YOU can see better in da Rain!!!

Seeds of Wisdom RV and Economic Updates Monday Evening 9-16-24

Good Evening Dinar Recaps,

SEN. WARREN ADVISES 75BPS FED CUT ON RECESSION FEARS

Despite rhetoric about a strong U.S. economy, three Democratic Senators urged the Federal Reserve to implement an aggressive monetary policy shift.

Crypto-skeptic U.S. Senator Elizabeth Warren of Massachusetts called on the Federal Reserve and its chair, Jerome Powell, to slash interest rates by 75 basis points to curtail recession risks. Warren’s letter, co-signed by fellow Senators Sheldon Whitehouse and John Hickenlooper, warned of potential economic declines that smaller funding cuts may usher in.

If the Fed is too cautious in cutting rates, it would needlessly risk our economy heading towards a recession. A number of economists have warned of this risk since July… The Committee must consider implementing rate cuts more aggressively upfront to mitigate potential risks to the labor market.

Sen. Elizabeth Warren to Fed on rate cuts

The document, dated Sept. 16, was issued less than 48 hours before the next Federal Open Market Committee meeting on Wednesday, Sept. 18.

Markets expect Fed chair Jerome Powell to announce a dovish pivot at the FOMC meeting, but the exact rate cut preferred by the central bank was unclear at press time.

What are the odds?
The CME FedWatch tool showed a 61% probability of a 50 bps cut and a 39% probability of a 25 basis-point reduction. Last week, the same tool gave a 14% likelihood of a 50 bps interest rate slash.

The 50 bps option also held sway on crypto prediction venues. Polymarket data noted odds of 53% for a 50 basis points announcement, followed by 45% for 25 bps. Previously, users predicted a 78% chance of a 25 bps pivot. Bettors had wagered over $40.5 million via the Polygon-based platform on this month’s FOMC decision.

Fed cut impact on crypto market
If the Fed matched expectations and announced a fund rate cut, experts believe liquidity would flow into risk assets like cryptocurrencies. Market participants still debated how an aggressive or modest pivot might indicate the Fed’s outlook, with the former suggesting recession concerns and the latter pointing to a firmer grip on inflation.

Horizen Labs CEO and co-founder, Rob Viglione, told crypto.news that a Fed rate cut seemed likely to propel a bullish Q4 for digital assets like Bitcoin and Ethereum. The fourth quarter has historically recorded higher crypto prices than in mid-late Q3.

In the short term, we could see a price surge, especially in Ethereum and Bitcoin, though it may also bring heightened market volatility. Over the long run, a prolonged low-rate environment could encourage greater innovation and investment in blockchain technology and crypto-related startups.

@ Newshounds News™

Source:  Crypto News

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Bitstamp and Ripple to Launch Derivatives Exchange on XRP Ledger

Bitstamp’s Head of Strategic Partnerships Eva Gartner reveals the company’s plans to launch a derivatives exchange in collaboration with Ripple.

Gartner revealed the initiative in the tenth episode of the “Built on XRPL”  series. Speaking at the series, Gartner said Bitstamp will launch the derivatives exchange in the next few months, adding that “we [Bitstamp] really hope to cooperate closely with Ripple there as well.”

XRPL to Power Bitstamp’s Derivatives Exchange
Notably, Bitstamp is expected to launch the derivatives exchange on the XRP Ledger (XRPL) blockchain, as confirmed by multiple sources, including Abdullah Nassif, host of the Good Morning Crypto podcast.

According to Nassif, Bitstamp, in collaboration with Ripple, will build the derivatives exchange on the XRPL. Notably, Bitstamp has leveraged the XRP Ledger to launch several crypto-related products, including stablecoins.

At present, Bitstamp has issued multiple stablecoins tied to the USD, GBP, EUR, AUD, JPY, and CHF on XRPL.

Bitstamp and Ripple Relationship
Furthermore, Bitstamp also has a close relationship with Ripple, which began about seven years ago. Last year, Ripple bolstered this relationship by acquiring a minority stake in the company after acquiring shares previously owned by Pantera Capital.

@ Newshounds News™

Source:  The Crypto Basic

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41 institutions join BIS tokenized cross border payment Project Agorá

Today the Institute of International Finance (IIF) released the names of 41 firms selected to participate in the public – private tests of Project Agorá. It’s an ambitious project initiated by the BIS to modernize correspondent banking using a unified ledger, tokenized deposits and wholesale CBDC from seven central banks.

One of the key impediments to smooth cross border payments is compliance. With Project Agorá, the aim is to perform screening at the start of the payment process and to share it across the banks, helping to reduce one of the major delays in cross border payments – every bank doing the same checks independently, sometimes with different results.

A key benefit of tokenization is there is no separation of the message and money movement, so the money either moves or it does not. This should avoid one of the great frustrations of end users – money in limbo.

In late May the BIS wrote a brief paper outlining its vision for modernizing correspondent banking. It highlighted how compliance expenses have resulted in bank withdrawals from some of the cross border payment corridors where they are most needed. Today the BIS added an FAQ about Project Agorá.

On the one hand, the FAQ says Project Agorá is more than a proof of concept and it hopes to deliver a prototype where the lessons learned could create the foundations for a future financial market infrastructure. On the other hand, today’s announcement emphasized that BIS Innovation Hub projects are experimental in nature.

Project Agorá participants
Thirty five of the selected institutions are banks representing the seven jurisdictions. The others are Visa, Mastercard and financial market infrastructures Swift, Eurex Clearing, Euroclear and the SIX Digital Exchange (SDX). The full list is at the bottom.

The IFF is the coordinator for the private sector, with EY providing project management office help, and White & Case responsible for contracts.

With the participants selected, the design phase will now commence. The initiative is expected to run through to the end of 2025 when a report will be released.

The seven central banks are from France (for Europe), Mexico, New York (NYIC), Switzerland, England, Japan, South Korea.

The participants are:

Amina Bank, Banco Santander, Banorte, Banque Cantonale Vaudoise, Basler Kantonalbank, BBVA, BNP Paribas, BNY, CaixaBank, Citi, Crédit Agricole CIB, Deutsche Bank AG, Eurex Clearing AG, Euroclear S.A./N.V., FNBO, Groupe BPCE, Hana Bank, HSBC, IBK, Intercam Banco, JPMorgan Chase Bank N.A., KB Kookmin Bank, Lloyds Banking Group, Mastercard, Mizuho Bank, Monex, MUFG Bank Ltd., NatWest Group, NongHyup Bank, PostFinance, SBI Shinsei Bank, Shinhan Bank, SIX Digital Exchange (SDX), Standard Chartered, Sumitomo Mitsui Banking Corporation, Swift, Sygnum Bank, TD Bank N.A., UBS, Visa, Woori Bank.

@ Newshounds News™

Source:   Ledger Insights

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BARCLAYS EXPLORES DIGITAL POUND DESIGN OPTIONS

Last year Barclays published a report on the “functional equivalence” of central bank digital currency (CBDC). In other words, the need for a CBDC and commercial bank money to have similar functionality. While that may seem obvious, there’s a fair bit of work to be done for a CBDC to deliver that, including issues such as using ATMs to top up CBDC wallets.

Programmability was an important topic in that paper. Now Barclays has published a much more detailed paper stepping through typical uses cases such as a parent topping up a digital pound wallet for a child. It concludes that ideally a financial market infrastructure should be responsible for the features.

For each function, there are multiple potential ways to implement it. For example, it starts with payee confirmation, to verify the target of the payment is really your child’s CBDC wallet. With faster payments in the UK, there have been a lot of cases where people sent money to the wrong person. Hence, nowadays when people initiate a faster payment, the bank checks to ensure the recipient account is the person you intend to send to. This sort of functionality will also apply to a digital pound wallet.

It’s not just about the options of how each feature might work, but who will be responsible for the functionality, and where it sits. For example, it could be implemented by a technical service provider, the wallet operators (payment interface providers or PIPs), a financial market infrastructure, or some other organization. It could potentially be part of the CBDC system or elsewhere.

Key findings
The Bank of England’s digital pound consultation says that access to digital pound holdings may be restricted for financial firms. Several of the functional options explored would need wallet providers, commercial banks and FMIs to hold digital pounds, in some cases temporarily on behalf of clients.

This is particularly for interoperability between commercial bank money and the CBDC. Because of this restriction, none of the interoperability options were deemed entirely suitable.

In terms of who should be responsible for various features, the paper concludes that a financial market infrastructure is the answer. The Barclays team came to a similar conclusion regarding programmability in the previous paper.

Lee Braine from the chief technology office at Barclays, said that they “evaluated various design options and concluded a financial market infrastructure could help simplify the experience of ecosystem participants and facilitate the creation of innovative services.” Dr Braine is also a member of the Bank of England’s CBDC Technology Forum.

@ Newshounds News™

Source:  Ledger Insights

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🌍THE GLOBAL CURRENCY RESET: REVOLUTIONIZING THE FINANCIAL WORLD |  Youtube

@ Newshounds News™

Source: Seeds of Wisdom Team Currency Facts 

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Economist’s “News and Views” Monday 9-16-2024

Saudi Wants China’s RMB For Oil As BRICS Threatens USD With Payment System Backed By Gold

Sean Foo:  9-16-2024

In two big updates, Saudi Arabia has gone public, saying they would gladly accept the Chinese Yuan for oil.

This is a big snub to the dollar as it continues to get weaponized .

Meanwhile, BRICS is preparing a new financial system where gold could become an integral component.

Timestamps & Chapters:

 0:00 Saudi Accepts Yuan For Oil

2:59 Saudi China Big Economic Agenda

5:49 BRICS To Challenge USD Hegemony

 7:36 Sponsor: Indigo Precious Metals

9:01 Trump Fears The End Of USD

10:08 BRICS Payment System & Gold

12:48 America's Biggest Crisis

https://www.youtube.com/watch?v=2ol-v_PuecY

LIVE! The DOLLAR IS BURNING! AND PEOPLE HAVE NO IDEA OF HOW BAD THIS IS GOING TO GET.

Greg Mannarino:  9-16-2024

https://www.youtube.com/watch?v=vYbzyrKQD7k

6 Banks Are At Risk of Collapse Now

Atlantis Report:  9-16-2024

The banking sector is on the brink of a crisis as the global economy teeters on the edge of recession. With six major banks under intense scrutiny, growing fears of instability are casting a shadow over the entire financial landscape.

As economic conditions deteriorate, lending standards tighten, creating a precarious environment for these institutions. The looming threat of insolvency is sending shockwaves through investors, depositors, and the public, fueling widespread anxiety about what lies ahead.

6 Banks Are Now At Risk of Collapse.

https://www.youtube.com/watch?v=AmDu9IFsQ1M

More News, Rumors and Opinions Monday PM 9-16-2024

KTFA:

Clare:  Iraqi government moves to impose taxes on social media sites

9/16/2024

Financial expert Nabil Al-Marsoumi revealed on Monday that the Iraqi government is planning to impose taxes on social media sites in Iraq, among the people covered by these taxes.

Al-Marsoumi told Shafaq News Agency, "The Iraqi government is studying a proposal to impose taxes on content creators on social media sites in the country, not users of those sites. This process came in order to enhance non-oil revenues, especially in light of the decline in oil prices and the deterioration in oil revenues.

These taxes will provide good financial revenues, and for this reason the percentage will be 15% of the profits of content creators, especially since some of their profits are estimated in the millions on a daily basis."

He added, "This decision does not require a vote by the House of Representatives, as this is a decision within the authority of the Council of Ministers to expand the tax base, and does not require a law, but it is still under study, and may come into effect at the beginning of next year, as it requires months of work and study."   LINK

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Clare:  Private Banks Association: The number of electronic payment points in Iraq increased from 7 thousand to 30 thousand

9/15/2024  Baghdad

The Executive Director of the Iraqi Private Banks Association, Ali Tariq, confirmed on Sunday that "the number of electronic payment points in government institutions and shops has increased from 7,000 to 30,000." 

Tariq said, in a statement reported by the "Rudaw" media network, and reviewed by "Al-Eqtisad News", that "the financial and banking sector, electronic payment companies and other financial institutions in Iraq need to have a greater impact on the lives of citizens in terms of financing or using electronic payment tools and developing them."
 
He added that "the Central Bank of Iraq is currently working on a major plan to reform the banking sector in general, whether governmental or private."
 
He noted that "the focus in the next phase will be on developing and improving these services to strengthen the Iraqi banking sector, protect depositors' money and develop the electronic payment system, which contributes significantly to reducing the risks of using cash, whether from damage or forgery, as well as protecting the financial system from money laundering and financing terrorism."
 
As for deposits, he confirmed that they are "continuously increasing, whether in government or private banks, and that lending and loans are also continuously increasing."
 
Regarding the use of electronic payment tools, he said that "in the last two years the percentage has been very high, in the last year alone about two million electronic payment cards were issued in Iraq, increasing the number to 20 issued cards."

Regarding the payment devices that we see in shops and government institutions, he pointed out that "they have increased from 7,000 payment points to more than 30,000, and the total transfer of funds via electronic payment last month between financial institutions reached nearly 2 trillion Iraqi dinars."
 
The Executive Director of the Iraqi Private Banks Association confirmed that reliance on the banking sector, especially in light of the transfer system to finance foreign trade, "was organized differently than before, and at the end of this year there will also be a shift in the external transfer process to rely more on correspondent banks than the platform in its current state." 

Regarding the collection of government services, he said that "recently there has been a very large acceleration and doubling in the level of government collection."

He added that "before June 2023, there were about 50 government institutions with their departments that had at least one electronic payment window, but today the number has exceeded 600 payment windows, which makes it easier for citizens to pay faster." 

In the context, he stressed that "many banks rely on digital services and applications throughout Iraq and the Kurdistan Region, which has witnessed significant development in terms of the use of digital services." 

Regarding transferring money abroad, he explained that if "the issue is related to personal transfers, there are specific outlets or ceilings for these transfers." 

In this regard, he said that "the transfer process will be more organized and monitored by correspondent banks in which Iraqi banks have accounts to ensure real transfers and monitoring that facilitates the process of transferring money for merchants outside Iraq."  LINK

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

Frank26  [Iraq boots-on-the-ground report]  FIREFLY:
Television is telling us they are completing digitization at all of our ports.  We know it means that the real value of the dinar will soon be given to us for our food...transportation...housing...the whole world.  FRANK:  You see every day there's more and more exciting news being given to the Iraqi citizens and they all piece it together...When you see prices of your food...market... housing...cars, start to change, it's because they will introduce a new exchange rate very soon to you...

Militia Man  They're talking about Iraq as going global and to the international financial system.  With that has responsibility and that responsibility will be defended by the central bank.  That responsibility is to have a stable exchange rate and to provide commerce throughout the country in and out and across borders, with efficiency and transparency.   That's what they're going to have and that's what they're doing.  There's looking to be no stopping it.  It's brilliant.

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Market Crash or Massive Rally this Week? What a Fed Pivot will do to Tech Stocks

David Lin:  9-15-2024

In the world of finance, few events stir as much speculation and debate as the Federal Reserve’s monetary policy decisions. This week, as Wall Street braces itself for the possibility of a Fed pivot—an abrupt shift in monetary policy—investors and analysts are torn between two starkly different outcomes: a market crash or a massive rally. To delve deeper into this conundrum, we turn to insights from Bradley Tusk, Founder and CEO of venture capital powerhouse Tusk Ventures, known for backing successful tech companies like Ripple, Coinbase, and Lemonade.

The Federal Reserve has a dual mandate: to maximize employment and stabilize prices. In times of economic uncertainty, these objectives often come into conflict. With persistent inflation and slower-than-expected economic growth feeding concerns across markets, many are speculating that the Fed may pivot towards a more dovish stance, potentially cutting interest rates or slowing the pace of rate hikes.

So, what would such a pivot mean for tech stocks? Tusk paints a mixed picture. On one hand, lower interest rates generally create a favorable environment for growth stocks, especially in the tech sector, where future earnings are often heavily discounted in present valuations. On the other hand, there’s the reality of inflated expectations.

With the market at a crossroads, one thing is certain: the decisions made this week will likely echo in the investment community for years to come.

https://youtu.be/5g820_KlWww