Weaponized Dollar Pushing States to Gold and Sound Money

Weaponized Dollar Pushing States to Gold

Kitco News:  9-24-2024

In the ever-evolving landscape of finance and currency, the sound money movement is gaining ground across the United States. Recent conversations about this movement have been invigorated by an enlightening interview between Jeremy Szafron, Anchor at Kitco News, and J.P. Cortez, the Executive Director of the Sound Money Defense League.

This discussion shed light on key legislative victories and the broader implications of an economic shift that champions sound money as a means to secure financial stability for individuals and businesses alike.

One of the most impressive achievements highlighted in the interview is the removal of sales taxes on gold and silver in an astounding 45 states. This critical legislative victory reflects a growing recognition of the role precious metals can play in a sound monetary system.

By alleviating the tax burden on gold and silver transactions, lawmakers are incentivizing citizen engagement with these assets. This not only acknowledges their historical role as money but also empowers individuals with tools to protect their wealth from inflation and economic uncertainty.

The Sound Money Defense League has been at the forefront of these legislative efforts, advocating for laws that support the use of gold and silver as viable alternatives to fiat currencies. Cortez emphasized that reducing the tax burden on precious metals is essential for fostering a broader acceptance of sound money principles, thereby encouraging individuals to consider gold and silver as part of their financial portfolios.

Amidst growing global economic instability, the interview also touched upon the increasingly common trend of de-dollarization. As countries around the world seek ways to reduce their reliance on the U.S. dollar, there is an evident pivot towards alternative currencies, including gold.

This shift signals a fundamental transformation in the financial landscape, as nations explore the limits of fiat currencies and the potential stability offered by sound money.

Cortez rightly pointed out that gold has traditionally served as a hedge against the volatility of fiat currencies. In a world where inflation, fiscal policy missteps, and geopolitical tensions abound, the stability of gold becomes more appealing as individuals and countries alike search for safer investments. The growing recognition of gold’s relevance—both as a long-term investment and as a mechanism for financial resilience—is something Cortez emphasized throughout his discussion with Szafron.

As our economies become increasingly intertwined with technology and digital currencies, the necessity for a stable and dependable monetary system remains paramount. Gold’s status as a tangible asset, which has endured for thousands of years, provides a unique comfort in uncertain times. Whether individuals are investing to protect their savings or nations are re-evaluating their currency strategies, gold is emerging as a pivotal player in the evolving financial narrative.

Cortez’s insights serve as a reminder of the inherent value in diversifying one’s portfolio to include sound money options, especially amid turmoil in traditional financial markets. His belief that a robust sound money framework can lead to a more prosperous economy aligns with the growing awareness of the benefits that gold and silver can provide over ill-defined fiat currencies.

As Jeremy Szafron and J.P. Cortez discussed in their interview, the sound money movement is not just a niche interest anymore; it has grown into a significant movement with far-reaching implications.

The recent legislative victories regarding the sales tax exemptions for gold and silver reflect a shift towards recognizing the importance of sound money principles in everyday financial practices. With the world increasingly embracing de-dollarization and searching for safer investments, the role of gold as a hedge against fiat currency fluctuations has never been clearer.

As this movement continues to gain momentum in the U.S., it holds the potential to reshape the financial landscape in ways we are only beginning to understand. With organizations like the Sound Money Defense League leading the charge, the future of sound money looks not only promising but necessary for a more stable economic environment.

https://youtu.be/iDQS5dyco_8

https://dinarchronicles.com/2024/09/24/kitco-news-weaponized-dollar-pushing-states-to-gold/

Seeds of Wisdom RV and Economics Updates Wednesday Morning 9-25-24

Good Morning Dinar Recaps,

SEC Chair Gary Gensler grilled over crypto regulation, handling of DEBT Box case in heated congressional hearing

▪️Republican Majority Whip Tom Emmer got into a heated exchange with SEC Chair Gary Gensler during Tuesday’s hearing.

▪️Some lawmakers have criticized the SEC’s approach to regulating crypto over the years and say rules are not clear for the industry. Others say the SEC is doing its job by protecting investors.

U.S. Securities and Exchange Commission Chair Gary Gensler took the heat from both sides of the aisle during a congressional hearing over his handling of regulating the crypto industry.

In an intense exchange during a House Financial Services Committee hearing on Tuesday, where all five SEC commissioners were testifying, Republican Majority Whip Tom Emmer asked the SEC chair about its case involving crypto startup DEBT Box.

A federal judge in Utah criticized the SEC's handling of the case and said the agency acted in bad faith. The agency was ultimately ordered in March to pay sanctions, including attorney's fees and costs. The same judge also criticized what he characterized as the SEC's misleading statements, with the agency admitting it had fallen short of expectations.

"Does the fact that we're talking about this today even slightly embarrass you?" the Minnesota Republican asked.

"The matters in that case were not well handled," Gensler responded.

Some lawmakers have criticized the SEC's approach to regulating crypto over the years and say rules are not clear for the industry. Others, including top Democrat Maxine Waters say the SEC is doing its job by protecting investors and "ensuring our capital markets remain the envy of the world."

Tuesday's hearing also comes as elections are just around the corner where crypto has become a hotly contested issue. 

Crypto firms have so far spent $119 million in 2024, with almost all of the funds going into super political action committees, specifically the Fairshake PAC, according to a report last month from consumer advocacy group Public Citizen.

Emmer, who has been critical of the SEC chair, also asked Gensler about Vice President Kamala Harris' comments over the weekend about crypto. Harris said she would "encourage innovative technologies like AI and digital assets while protecting consumers and investors. We will create a safe business environment with consistent and transparent rules of the road," according to Bloomberg.

"Is this your approach too sir, or do you think she's rebuking you because she doesn't think you've done a good enough job establishing these clear rules over the last three years of her administration?" Emmer asked.

Gensler said laws are in place, but that Congress can change them.

Take me out to the ball game
Democrat Ritchie Torres also peppered Gensler with questions about how the agency defines securities, using a New York Yankees ticket as an example. The crypto-friendly lawmaker asked Gensler if selling a Yankees ticket to him would be a security and later pointed out that the ticket would give him "access to a Yankees game."

Torres' line of questioning comes after the SEC has charged multiple entities with unregistered securities offerings, including Stoner Cats 2 LLC for conducting an unregistered offering of NFTs that brought in $8 million from investors.

"From the standpoint of federal securities laws, is there a legal difference between buying a Yankee ticket that offers you the experience of a Yankee game and buying an NFT that offers you the experience of an animated web series?" Torres asked.

Gensler said it's about how something is offered and sold and if people are "looking to a common enterprise anticipating profits," citing the Howey Test. The test is based on a 1946 U.S. Supreme Court case frequently cited by the SEC, to determine if an asset qualifies as an investment contract and, therefore, a security.

"The expectation or promise that an object could appreciate in value or that an object could be sold at a profit in the secondary market, that expectation or profit could be retrospectively attributed to just about any collectible or any consumer good or any piece of art or any piece of music," Torres said.

Gensler said it's about how something is offered and sold and if people are "looking to a common enterprise anticipating profits," citing the Howey Test. The test is based on a 1946 U.S. Supreme Court case frequently cited by the SEC, to determine if an asset qualifies as an investment contract and, therefore, a security.

"The expectation or promise that an object could appreciate in value or that an object could be sold at a profit in the secondary market, that expectation or profit could be retrospectively attributed to just about any collectible or any consumer good or any piece of art or any piece of music," Torres said.

 @ Newshounds News™

Source:  The Block

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BNY nears crypto custody for ETFs after SEC softens SAB 121 stance

Bank of New York Mellon will not be held to SEC accounting practices for client crypto custody after a review.

The Bank of New York Mellon (BNY) is moving toward providing custody services for its exchange-traded fund (ETF) clients’ Bitcoin and Ether after the United States Securities and Exchange Commission (SEC) gave it a pass on observing controversial crypto accounting guidelines.

The SEC’s Office of the Chief Accountant conducted a review earlier this year and concluded that the bank did not need to adhere to the SEC’s Staff Accounting Bulletin (SAB) 121, Bloomberg reported.

SAB 121 requires companies safeguarding client crypto assets to list them as liabilities in their accounting. It has been a thorn in the side of the US crypto industry since its introduction in April 2022.

The SEC loosens its grip
Other financial institutions may receive the same break, the SEC hinted. A spokesman told Bloomberg:

“Certain broker dealers and custody banks have sufficiently demonstrated to SEC staff that their fact patterns are different from those described in SAB 121.”

“As long as their customers receive the same protection for the safeguarding of crypto assets as they do in custody arrangements, their balance sheet treatment is also the same as custody arrangements,” the agency continued.

BNY would need the authorization of other regulators in addition to the SEC before it could begin offering custody services. It told Bloomberg:

“BNY has engaged, and will continue to engage, its banking regulators to offer custody services to crypto ETP clients at scale.” Source: Financial Services GOP

 SAB 121 is a source of endless controversy.  

The inconvenient SAB 121 caught the world unprepared. Coinbase’s Q1 2022 financial report led to false speculation that the company was unsound after it incorporated the new accounting.

In June 2022, politicians joined the fray for the first of many times by writing to SEC Chair Gary Gensler complaining of “regulation disguised as staff guidance.”

The Government Accountability Office examined the guidance at the urging of pro-crypto Senator Cynthia. In October 2023, it determined that SAB 121 was subject to the Congressional Review Act, which requires agency rules to be submitted to Congress with a procedure for disapproval.

A coalition of the Bank Policy Institute, American Bankers Association, Financial Services Forum and Securities Industry and Financial Markets Association sent a letter to Gensler in February asking that traditional assets recorded on blockchain be exempted from the requirements of SAB 121.

Despite the pressure, the SEC held tight to the guidance, and legislation was passed to overturn the guidance in May. US President Joe Biden vetoed the legislation the following month.

@ Newshounds News™

Source:  CoinTelegraph

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Gensler grilled as most ‘destructive’ SEC chair during congressional hearing

SEC Chair Gary Gensler faced criticism from lawmakers and agency members during a House Financial Services Committee hearing over his handling of crypto regulation in the United States.

United States Congressman Tom Emmer slammed SEC Chair Gary Gensler during a congressional hearing, calling him the most “destructive” and “lawless” Chair in the regulator’s 90-year history.

“You’ve made up the term crypto asset security. This term is nowhere to be found in statute, you made it up [and] you never provided any interpretive guidance on how crypto asset security might be defined within the walls of your SEC,” Emmer told Gensler before a House Financial Services Committee hearing on Sept. 24.

Emmer said the term had served as the entire basis for Gensler’s “enforcement crusade” against the crypto industry for the last three years. This was up until last week when SEC lawyers retracted the term in a court footnote.

“Your inconsistencies on this issue have set this country back. We could not have had a more historically destructive or lawless chairman of the SEC.”

Emmer also grilled Gensler over his agencies’ handling of the Debt Box case — a case where the SEC sued a crypto startup for an alleged $50 million fraud scheme. The case against Debt Box was dismissed on May 28, and the SEC was ordered to pay $1.8 million in fees.

Emmer said the SEC attorneys crafted a series of lies in the Debt Box case to “effectuate the commands” of Gensler’s “anti-crypto rhetoric” and regulation-by-enforcement agenda.

“The matters in that case were not well handled,” Gensler said in response to Emmer’s questioning.

SEC ‘should have admitted long ago’ that crypto tokens aren’t securities: Peirce

Gensler also faced heat from within his own ranks, with SEC Commissioner Hester Peirce saying the SEC’s move to retract the term crypto asset security in court last week should have happened “a long time ago.”

“[By] tucking into a footnote, we admit that now actually the token itself is not a security. That's something that we should have admitted long ago,” the pro-crypto SEC commissioner explained.

“We’ve fallen on our duty as a regulator not to be precise,” Peirce said.

When asked whether crypto tokens need a statutory definition to ascertain how they apply to securities laws, Peirce responded: “It’s always helpful to have Congress weigh in, but there certainly are some guidelines we could provide in this area that we have chosen not to provide.”

“But a statutory definition would help well I always welcome the input of Congress.”

Gensler confirms SAB 121 rule will stay in place

Despite calls from 42 US politicians to rescind the SEC’s Staff Accounting Bulletin No. 121 rule, Gensler said it will remain in effect.

“No, it’s a good accounting bulletin,” Gensler said in response to a question from House Rep. Wiley Nickel about whether the SEC would rescind the rule.

The SAB 121 rule mandates SEC-reporting entities that custody crypto to record those holdings as liabilities on their balance sheets. A SAB 121 repeal bill received bipartisan support in Congress before being vetoed by President Joe Biden in June.

Gensler claims it will help public companies understand the risks associated with holding crypto, pointing to FTX, Terraform Labs and other crypto bankruptcies.

Nickel didn’t bite, claiming that SAB 121 actually makes the digital asset ecosystem “less safe.”

Nickel recently claimed that SAB 121 would prevent US banks from custodying crypto exchange-traded products at scale, creating a “concentration risk” by handing more control over to non-bank entities.

With the rule now in place, Nickel slammed the SEC’s Office of the Chief Accountant for recently exempting Bank of New York Mellon from the balance sheet reporting requirement — arguing that it will lead to “different rules for different folks.”

But Gensler disagreed: “It’s actually the same rules for different folks.”

@ Newshounds News™

Source:  CoinTelegraph

  ~~~~~~~~~

AHEAD OF TODAY’S CONGRESSIONAL HEARING ON SEC OVERSIGHT, REPUBLICANS URGED GENSLER TO REPEAL  |  Youtube

@ Newshounds News™

Source: Seeds of Wisdom Team Currency Facts 

  ~~~~~~~~~

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“Tidbits From TNT” Wednesday Morning 9-25-2024

TNT:

Tishwash:  Parliamentary Finance: Iraq is experiencing good economic conditions with a financial surplus

The Parliamentary Finance Committee downplayed concerns about the decline in oil prices on the economic reality, stressing that Iraq's financial and economic conditions are good, and that revenues exceed the size of concerns resulting from the possibility of a decline in global oil prices.

Member of the Parliamentary Finance Committee, MP Jamal Kojer, stated in a statement to the official newspaper, followed by (Al-Rabia), that “oil prices have not fallen to worrying levels, and therefore we are now in a stable economic situation with a financial surplus, and therefore we cannot talk about a crisis unless oil prices fall to less than $70.”

The member of the Finance Committee confirmed that "Iraq has gone through many economic and oil crises in the past, but the financial situation has remained stable and there is no fear of a current crisis." link

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Tishwash:  Parliamentary Finance: Iraq is experiencing good and stable economic conditions

The Parliamentary Finance Committee downplayed concerns about the decline in oil prices on the economic reality, stressing that Iraq's financial and economic conditions are good, and that revenues exceed the size of concerns resulting from the possibility of a decline in global oil prices.

Member of the Parliamentary Finance Committee, MP Jamal Kojer, said in an interview with “Al-Sabah” followed by “Al-Eqtisad News”, that “oil prices have not fallen to worrying levels, and therefore we are now in a stable economic situation with a financial surplus, and therefore we cannot talk about a crisis unless oil prices fall to less than $70.”

The member of the Finance Committee stressed that "Iraq has gone through many economic and oil crises in the past, but the financial situation has remained stable and there is no fear of a current crisis."

“According to the Financial Management Law, the 2024 budget was supposed to be submitted after the middle of October, but there is still a delay in the expected schedules, which may be submitted in the first quarter of next year,” Koger continued. The MP pointed out that “the majority of the 2023 budget has already been disbursed, with 9 trillion dinars disbursed two months ago, while the 2024 budget has not yet been disbursed due to changes in governors and attempts to introduce new projects.”

The member of the Finance Committee added, "As for liquidity, the government has guaranteed the liquidity of salaries, but there is a shortage in the liquidity of projects. However, the projects that have been started will continue, including bridge projects   link

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Tishwash:  Rafidain announces collecting 3 trillion dinars from taxes within 9 months

 Rafidain Bank announced today, Wednesday, that it collected 3 trillion dinars from taxes during 9 months of the current year.

The bank's media office stated in a statement received by the Iraqi News Agency (INA), that "the total amounts of financial settlements related to electronic collection movements from state departments and institutions that have activated electronic collection and switched to electronic transactions and collected bills and fees from beneficiaries electronically via bank cards and  POS devices , is 3 trillion dinars during the first nine months of the current year."

He added, "This achievement represents the great interaction using electronic payment in financial transactions and ensuring the preservation of money movement paths and making them in a safe and transparent environment."  link

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Tishwash: An imminent process to change the skin of the Iraqi dinar.. Removing zeros will reveal the extent of currency manipulation

Government advisor: It must be preceded by political and economic stability

There has been talk once again about the possibility of removing zeros from the local currency, as the government is studying a bold option of changing the Iraqi dinar to its skin. Although this step carries promises of simplifying financial transactions, it raises concerns about its effects on the economy and citizens, especially in light of the inflation that the markets have been witnessing for a long time .

During the current month, the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, revealed new information regarding the project to delete zeros in Iraq, indicating that “the project is undergoing continuous review and study, taking into consideration the existence of an issued currency volume that has exceeded 100 trillion dinars, after it was 6 trillion in 2004. ”

Many countries take the step of removing zeros from their currency to revalue their national currency , and facilitate financial transactions by removing a certain number of zeros from the nominal value of the currency, making it appear less inflationary and more stable .

60countries experience

“Removing zeros from the local currency is a process that has taken place in more than 60 countries over the past years,” said Mazhar Mohammed Saleh, the Prime Minister’s financial advisor. “This step comes after economic inflation occurs in countries, and therefore they resort to deleting zeros in order to keep up with prices in the markets,” he explained. 

In an interview with Al-Jabal, Saleh continued, saying, “The abundance of zeros has doubled the monetary value of the currency now,” adding, “Political and economic stability must be achieved before resorting to deleting zeros.” 

According to Saleh, the process of deleting zeros will facilitate the financial trading process, in addition to facilitating the calculations, and will not affect the value of the currency and all goods in the market, pointing out that this process will also allow the issue of trading small currencies in the markets, which supports the poor class of society .

The Iraqi Council of Ministers (February 7, 2023) approved the decision of the Board of Directors of the Central Bank to adjust the exchange rate of the dollar against the dinar, equivalent to 1,300 dinars per dollar, after it was 1,480 dinars per dollar, which, according to observers, caused a significant decline in the value of the Iraqi dinar in the markets .

 What about the value of the dinar?

 In this regard, financial expert Mahmoud Dagher told Al-Jabal, “There is a high committee formed within the Central Bank that is continuing discussions and studying the deletion of zeros from the local currency of Iraq,” indicating that “the numbers on the currency have become very large, which is the main reason behind this process.” 

Dagher, a candidate for a senior position at the Central Bank, added, “The most prominent positive aspect of removing zeros from the currency is strengthening the psychological aspect of the currency by reducing the volume of transactions,” adding, “Removing zeros does not change the value of the money nor does it affect the volume of demand and the monetary mass.” 

" Iraq currently has a currency issue exceeding 100 trillion dinars," said Dagher, who pointed out that "there is a negative point resulting from this process, which is the large financial costs to cover this process, and therefore the committee needs to study all economic aspects before making the final decision." 

According to Dagher, changing the currency will lead to the Central Bank controlling the amount of cash liquidity outside the banking system and knowing the amount of currency available, stressing that this process will work to uncover manipulation, financial theft, and other things .

According to the circulated data, the foreign reserves of the Central Bank of Iraq cover 83.62% of the broad money supply, which is enough to cover the cost of imports for 15 months, while the global standard rate is 20 %.

Expected effects

According to the specialists’ view, the process of deleting zeros from the Iraqi local currency has many positives, as well as negatives, which can be summarized as follows :

The positives include: First: Simplifying calculations, as removing zeros will contribute to simplifying calculations and facilitating dealing with money .

Second: Improving the image of the currency, as deleting zeros may give the impression that the Iraqi currency has become more stable and stronger .

Third: Attracting investments, as this process may encourage investors to invest their money in the Iraqi economy .

As for the negatives:

 First: High costs, as implementing this project requires large costs to change banknotes and coins, and update electronic payment systems .

Second: Temporary confusion, as citizens may face some confusion in the first period after implementing the decision .

Third: The reform is not sufficient, as deleting zeros is only one of many measures necessary to achieve economic stability .

Steps to strengthen the dinar

In this regard, Drid Al-Shaker Al-Anzi, an economic expert, told Al-Jabal, “The Central Bank’s attempts to improve the reality of the local currency are many, but they always come to no avail.”

The Central Bank owns about $115 billion, 140 tons of gold, in addition to $43 billion in central treasury bonds, and $36 billion accumulated in savings at the Federal Reserve deposited in (JP Morgan), but they "did not and will not affect the strength of the Iraqi currency," according to the economic expert .

 Al-Anzi believes that “linking the Iraqi currency’s evaluation completely to the dollar through negotiations with the US Federal Reserve will allow for improving the strength of the Iraqi dinar,” stressing that this step will make the Iraqi dinar “stronger than the Jordanian dinar . ”

Al-Anzi points out that "the step of deleting zeros is not useful in improving the value of the Iraqi dinar compared to the countries of the region," considering that "it is a step that will only change digital transactions and has no positive value   link

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Mot: Amazing how I can Still get Around !!! 

Mt: siiiggghhhhhhh -- Been un of Those Daze!!! 

News, Rumors and Opinions Wednesday AM 9-25-2024

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.

Judy Note: I will not be putting out an update tonight for Wed. 25 Sept. To me, it still sounds pretty solid that everything is going to start happening on Tues. 1 Oct. – the EBS, notification for appointments, starting of the 10 days of communication darkness, complete US government shutdown and I don’t know what else. Readers need to prepare. Our world is changing.

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Ariel : So Many Things Converging at Once on October 1st, Game Over

Tuesday, 24 September 2024, 22:56 PM

OPEC+ nations may announce further cuts to oil production, which could lead to higher energy prices globall

The Port is supposedly going on strike as union workers demand a 77% raise.

After a long pause, millions of Americans will have to start repaying student loans, impacting disposable income

Basel 3 is supposed to go into effect that will change the real estate market forever.

LIBOR is supposed to be replaced by SOFR.

Key corporate earnings reports and economic forecasts are due, which could influence market sentiment significantly, particularly in already volatile financial markets.

Imposition of new tariffs as trade negotiations continue to strain between major economies, affecting prices of imported goods and manufacturing.

Government Shutdown is hovering over that date as well.

Certain pandemic-related housing protections, including eviction moratoriums and mortgage forbearance programs, are set to expire.

Rising interest rates and global economic pressures are heightening fears of a debt crisis in emerging markets, potentially leading to currency issues.

October 1st marks the beginning of the new fiscal year for many organizations, leading to budget reallocations, layoffs, or strategic pivots.

We are heading towards historic events that will change the course of this country forever. And the Deepstate knows there is no going back from that point. So expect them to throw everything at us. Because for them our future is going to be their end. And they do not want you making it to that opportunity to remove them from this planet forever. So be prepared for anything and everything. Nothing to fear. Nothing to run from. As I told you yesterday. You hold the cards now.

Goodluck.

𝙂𝙖𝙢𝙚 𝙊𝙫𝙚𝙧!

Freedom
Liberty
Law & Order
Prosperity

We are about to embark upon a historic endeavor ladies & gentlemen. We have been waiting for this moment and it is finally here. Things will start to move at a high pace after October 1st. Which means the Caball will ramp up their desperation to maintain power. But this will not stop anything. We are about to take back full control of this nation. And we will be compensated for sticking it out and making it to this pivotal point in history.

 What Does This Mean For The Average Person?

With regulated financial institutions now allowed to custody Bitcoin and crypto, digital assets are gaining legitimacy and moving closer to mainstream adoption. This paves the way for broader acceptance in everyday financial systems. Allowing established institutions to hold crypto provides an extra layer of security and trust, reducing the fear of hacks and scams that have plagued unregulated exchanges. It creates a safer environment for both new and seasoned investors. Traditional banks offering crypto custody services make it easier for everyday people to invest in digital currencies without needing to navigate complex, unfamiliar platforms. This bridges the gap between traditional finance and the world of crypto.

Traditional banks offering crypto custody services make it easier for everyday people to invest in digital currencies without needing to navigate complex, unfamiliar platforms. This bridges the gap between traditional finance and the world of crypto. As traditional banks begin to embrace digital assets, the exposure to Bitcoin and other cryptocurrencies offers individuals the opportunity to diversify their portfolios with assets that have historically provided high returns compared to traditional investments.

Crypto offers a way for people who are underserved by traditional banking systems to participate in the financial world. Regulated custody services help level the playing field, offering new opportunities for wealth-building. This development sets the stage for broader integration of decentralized finance within traditional financial structures, providing new ways to earn, borrow, and save that were previously inaccessible. Not to mention how this will help the IQD reach the international financial market for those who are waiting on the rate change.

Source(s):
https://x.com/Prolotario1/status/1838681166162886863
https://x.com/Prolotario1/status/1838691043694498049
https://x.com/Prolotario1/status/1838692395480756276

https://dinarchronicles.com/2024/09/24/ariel-prolotario1-so-many-things-converging-at-once-on-october-1st-game-over/

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

Militia Man  We had three articles the other day and now we have another one out today.  Article:  "Removing zeros from the Iraqi dinar is back in the spotlight:  Strengthening the currency or just changing its form?"  Quote:  "...Remove the zero...is done by removing specific number of zeros from the nominal value of the currency."  They didn't say from the currency bills themselves.  They're talking about the nominal value.  For all you folks out there that have been talking about a lop, please just read and see...What is the value of your currency?  Today it's .00076.  If you take off 3 zeros what do you have?  .76

Frank26  [Iraq boots-on-the-ground report]   FIREFLY:
Mr. Sammy [bank friend] expects by the end of this year or early '25 we will see what we're looking for...but he agrees with you it could happen at any time in the next three months of this year.  FRANK:  Mr. Sammy and I are on the same page.  The only difference is he's turning the pages a little slower than I am.  I do not see this going into next year.

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The treasury support CBI of Iraq

Nader:  9-24-2024

https://www.youtube.com/watch?v=MDzJ3pcVrxo

Vietnam and Iraq Currency Updates & Future Prospects

Edu Matrix:  9-25-2024

Vietnam and Iraq Currency Updates & Future Prospects—The CBI Launches New Sustainability Map. State Bank of Vietnam Changes VND Rate.

https://www.youtube.com/watch?v=DV-k-xS5F0g

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

Good Evening Dinar Recaps,

PRO-CRYPTO SENATE CANDIDATE JOHN DEATON SET TO DEBATE ELIZABETH WARREN IN OCTOBER

▪️John Deaton, a pro-crypto lawyer and Senate candidate, will debate Senator Elizabeth Warren on October 15.

▪️The debate will address key issues, though it remains unclear if cryptocurrency will be a topic of discussion.

▪️Deaton already criticized Sen. Warren for shifting from holding bankers accountable to supporting their interests.

Pro-crypto lawyer John Deaton, the Republican nominee for the Massachusetts Senate, confirmed his participation in a debate with Democratic Senator Elizabeth Warren on October 15.

This marks the first debate between the two, providing a platform to discuss issues affecting voters.

Deaton Accuses Senator Warren of Big Bank Favoritism
In a post on social media platform X (Twitter), Deaton criticized the Democratic Senator for her shift from holding bankers accountable to supporting their interests. He noted that despite her earlier calls for prison sentences for bankers involved in the 2008 financial crisis, she later backed bank bailouts.

Deaton labeled Warren the country’s top lobbyist for big banks, urging voters to focus on politicians’ actions rather than words. He suggested Warren’s actions contradicted her previous promises.

“[Warren] decried how banking executives deserved prison time for causing the Great Financial Crisis – yet she supported the bailouts. Twelve years ago she promised she would go to Washington to hold those bankers accountable. A decade later, those same bankers write her bills,” Deaton stated.

Notably, Deaton has challenged Warren to five single-issue debates. He proposed topics such as immigration, the economy, income inequality, women’s reproductive rights, and foreign policy. Although Warren’s campaign confirmed two October debates, it’s unclear if cryptocurrency will be discussed.

Deaton’s Senate run stems from Warren’s consistent opposition to cryptocurrencies. Over the years, she has become a prominent figure in the Senate’s anti-crypto stance, even advocating for the formation of an “anti-crypto army” to limit the industry’s influence.

Deaton, a vocal supporter of Ripple and other crypto firms facing legal battles with the SEC, has gained backing from key figures in the crypto industry. His supporters include Gemini co-founders Cameron and Tyler Winklevoss, as well as the Commonwealth Unity Fund PAC.

@ Newshounds News™
Source:  BienCrypto

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IOTA Ecosystem Spotlight: The Community Behind Blockchain Innovation

▪️The IOTA ecosystem thrives due to its dynamic community and innovative developer contributions, pushing the boundaries of blockchain technology with groundbreaking projects.

▪️IOTA’s Tangle network relies on nodes and validators for security and stability, while the community extends beyond technology to make significant social impacts.

The IOTA ecosystem has enjoyed major success due to the contributions of the vibrant and dynamic participants. Furthermore, IOTA’s innovative developer community has been driving IOTA’s future by pushing the boundaries of new developments in blockchain technology.

IOTA’s developer community has been working on a few groundbreaking projects shaping the next generation of IOTA tech while boosting the network’s position as a leader in the blockchain space.

▪️IOTA Community Spotlights and Projects @iota

▪️The Power Behind A Successful Blockchain: A Thriving Community.

▪️The secret sauce to every successful blockchain is its vibrant community.

🧵 Let’s dive into IOTA’s dynamic world and the game-changers making waves in the ecosystem. pic.twitter.com/8KbAu7ubBh

▪️— Whiz DeFi (@WhizDefi) September 19, 2024

Another key component of the IOTA ecosystem is its community-driven events, such as meetups and hackathons, that thrive upon new innovations and ideas. 

These gatherings provide a platform for education and collaboration while empowering participants to build new connections and share knowledge.  Besides, they also play a critical role in nurturing the IOTA community while offering opportunities to newcomers and seasoned developers to contribute to the ecosystem’s growth.

As reported by Crypto News Flash, the Tangle community Treasury has introduced “mini-grants” for events to help IOTA-related projects by providing funding for networking and outreach activities.

IOTA Nodes and Validators And Overall Social Impact
As we know, nodes and validators form the backbone of IOTA Tangle while playing a crucial role in ensuring the network’s security, decentralization, and stability.

These nodes and validators are basically individuals and organizations that maintain the integrity of Tangle while keeping the network secure and operational, per the CNF report.

Beyond its technological advancements, IOTA’s community is also making a significant social impact. Many members leverage the platform for philanthropy, sustainability, and other social good initiatives, showcasing the potential of blockchain to drive meaningful change.

By integrating technology with purpose, IOTA is proving that blockchain can be a force for positive societal transformation.

Furthermore, IOTA has been making strong inroads in the European Union and working along with the European Commission for several blockchain-based solutions under the European Blockchain Pre-Commercial Procurement (PCP) program, per the CNF report.

The European Blockchain Sandbox initiative, supported by the European Commission, aims to oversee the development of a pan-European framework for regulatory discussions, as recently detailed by CNF. IOTA’s selected solution is an advanced user authentication system designed to address the challenge of secure and reliable identity verification within the Web3 ecosystem.

@ Newshounds News™

Source:  Crypto News Flash

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DOJ FILES ANTITRUST LAWSUIT AGAINST VISA

Visa accused of monopolistic practices, allegedly stifling competition and raising costs for consumers and merchants.

Key Takeaways
▪️Visa controls over 60% of U.S. debit transactions, with the DOJ accusing it of using its dominance to stifle competition and raise fees.

▪️The DOJ accuses Visa of using restrictive agreements to maintain market  dominance.

The US Department of Justice (DOJ) has filed a civil antitrust lawsuit against Visa, alleging that Visa has unlawfully monopolized the debit network market. Visa is accused of using its dominance to suppress competition, inflate fees, and thwart innovation.

“Visa has unlawfully amassed the power to extract fees far beyond what it could charge in a competitive market,” said Attorney General Merrick B. Garland.

According to the DOJ, Visa, which processes over 60% of debit transactions in the US, has engaged in exclusionary practices that prevent smaller competitors and innovative financial technologies from gaining traction in the debit market.

The DOJ’s lawsuit highlights Visa’s stronghold over the debit market, where it charges $7 billion annually in fees for processing transactions. Visa allegedly leverages its scale and central role in the debit ecosystem to impose restrictive agreements on merchants and banks, penalizing those who use competing debit networks and locking out competition.

“Anticompetitive conduct by corporations like Visa leaves the American people and our entire economy worse off,” said Principal Deputy Associate Attorney General Benjamin C. Mizer.

Visa has allegedly maintained its monopoly by targeting both smaller debit networks and potential technology entrants. The DOJ claims Visa discouraged competition by coercing banks and merchants into agreements committing large transaction volumes to Visa.

The lawsuit also points to Visa’s strategy of “cooperating” with would-be competitors, particularly in the tech industry, to prevent them from offering disruptive alternatives.

The DOJ claims Visa saw tech companies and fintech startups as an “existential threat” and neutralized them by paying them to partner with Visa instead of competing.

“Visa fears competition and innovation, and instead chooses unlawful cooperation and monopolization,” said Principal Deputy Assistant Attorney General Doha Mekki of the DOJ’s Antitrust Division.

The lawsuit against Visa is the latest in a series of antitrust enforcement actions taken by the DOJ to protect competitive markets. In 2020, the DOJ successfully blocked Visa from acquiring Plaid, a fintech company that was developing innovative debit payment technologies.

@ Newshounds News™

Source:   Crypto Briefing  

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JUST IN: HEZBOLLAH ASKS IRAN TO ATTACK ISRAEL.   BRICS Post Link

@ Newshounds News™

Source:  BRICS

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UNDERSTANDING ANTI MONEY LAUNDERING RISK AML  | Youtube

@ Newshounds News™

Source: Seeds of Wisdom Team Currency Facts 

  ~~~~~~~~~

Seeds of Wisdom Team Currency Facts Youtube and Rumble

Newshound's Podcast Link

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Thank you Dinar Recaps

More News, Rumors and Opinions Tuesday PM 9-24-2024

KTFA:

Iraq Plans Currency Redenomination Amid Economic Challenges

9/23/2024

 ERBIL — The Central Bank of Iraq (CBI) has announced that discussions regarding the project to remove zeros from the Iraqi dinar are ongoing, with assessments continuing. The bank also noted a reduction in reliance on the US dollar for trade transactions.

Ali Mohsen al-Alaq, Governor of Iraq's Central Bank, stated that the bank is facing global economic challenges, such as rising energy and raw material prices.

To address these issues, it has amended some monetary policies in line with the international situation, aiming to increase confidence in the Iraqi dinar and prevent a significant decline in its value.

The central bank has also increased its holdings of foreign currency and gold reserves to enhance the country's financial stability and its ability to cope with economic crises in any situation, he added.

Many countries remove zeros from their currencies to revalue the national currency and facilitate financial transactions. This process involves eliminating a certain number of zeros from the nominal value of the currency, making it less inflationary and more stable.

Earlier this year, the Iraqi federal government decided to postpone a plan to remove three zeros from the nominal value of its currency notes, citing that the current economic climate is not suitable.

Last year, the central bank indicated plans to redenominate the Iraqi dinar to simplify financial transactions in an economy that remains heavily centralized and oil-dominated, where deals are often conducted in cash.   LINK

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Clare:  Iraq presents to US Treasury date for abandoning currency auction  

9/24/2024  Economy

The Prime Minister informed Mohammed Shia Al-Sudani, US Treasury Department, keeps only 5% of remittances Foreign It is not done through the electronic platform, and it will be completed by the end of this year, then the transition to correspondent banks.

 He said The office Al-Sudani's media, in a statement received by Sumaria News, said that Al-Sudani received, yesterday evening, Monday (Baghdad time), the US Deputy Secretary of the Treasury, Wally Adeyemo, and a number of officials in the Treasury Department. The meeting witnessed a discussion of bilateral economic relations between the two countries in various vital sectors, a review of the government's efforts and plans for economic and financial reform, the move towards diversifying the sources of Iraqi output, enhancing development targets, and practical measures applied in the field of combating money laundering.

 Al-Sudani stressed that "the government has made great strides in the financial and banking reform file, and 95% of bank transfers have been completed through the electronic platform, and less than 5% remains to be completed by the end of this year, after which the transition to the correspondent banking system will take place, in accordance with the government's approach and its commitment to raising the capabilities of Iraqi banks, in line with the standards.

"Global It meets the needs of the thriving investment environment in Iraq For his part, Adeyemo praised the “progress being witnessed by Iraq In the field of economic and banking reforms that were achieved in record time, and the state of economic growth that reached a total of about 6%, which enhances the government's efforts in development, expressing readiness to cooperate and work within a bilateral partnership that serves the interests of economic development," according to the statement.  LINK

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

Fnu Lnu  I would like to assure the Dinar investor community of a couple of things. There comes a time when common sense and logic must prevail.  There will be NO travel necessary to exchange your Dinar for American dollars (USD). You will not have to go to Jordan, Egypt, or Syria. There will be NO $0.10 revaluation. It was already at the rate of $3.22 to 1 Dinar when the only resource was oil. Dr. Shabibi, the preeminent expert, stated publicly, that Iraq could sustain an $16 to 1 Dinar rate but lets not get greedy. $4.80 is just about right. Stay tuned because I will have a mind bender coming for you next time and it will really make you think.

Jeff  We had five of these articles talking about deleting the zeros...and then one today, so six total within 3 days.  Very amazing ...Removing zeros is getting rid of the large 3-zero notes and replacing them with smaller size currency notes but at an increased value.  So when the rate changes the large notes have the same purchase power before the rate change as the smaller notes after the rate changes.  They would have to increase the value for the currency, strengthen it, to delete the zeros... This news is looking really good.

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

Iqd # Iraq economy

Nader:  9-24-2024

https://www.youtube.com/watch?v=-wfX58nevaw

Will The CBDC Reset Cancel Your Debt? | Clive Thompson

Liberty and Finance:  9-24-2024

Clive Thompson analyzes the recent Federal Reserve interest rate cuts and their potential impact on the economy.

While these cuts may initially seem advantageous for markets, he warns they could indicate more serious problems within the labor market and the broader economic landscape.

Thompson suggests that investors steer clear of cyclical companies and those burdened with high debt during a recession, recommending a focus on consumer staples and utilities as more reliable options.

He expresses concern over rising government debt and the threat of a currency crisis, which could lead to substantial losses for cash and bondholders.

Additionally, Thompson discusses the scenario of debt cancellation during a Central Bank Digital Currency (CBDC) reset.

INTERVIEW TIMELINE:

0:00 Intro

1:10 Rate cut & recession

17:05 CBDC Reset

38:14 Debt cancellation?

https://www.youtube.com/watch?v=xxSgQY6OEkU

Ariel : You hold all the cards now: Play your aces

Ariel : You hold all the cards now: Play your aces

This account exists because the private, membership-only site (S3-Gladiators) I was a part of was shut down. I engaged sparingly, sharing crucial updates on IQD. I connected with three key players through that channel—two of whom some of you have now come to know. Years ago, I was positioned to cash out. You’ve seen my NDA. Some of you wonder if you’ll be signing one yourself.

Understand this: NDAs will not be required unless you choose a private venture with selective banks. Any such decision will be entirely arbitrary, left to your discretion. Not forced. Not coerced. Not imposed. Everything 100% in your control.

On September 30, 2016, at 5:00 am EDT in the Line Islands of the Pacific Ocean, a monumental shift occurred: humanity was liberated legally, morally, and monetarily. The old, oppressive financial structures began their collapse.

The USA, Inc., and the Federal Reserve Bank’s fiat dollar (USD) met its end, replaced by the Republic’s new United States Treasury (UST). This transition marks the rebirth of sovereignty and wealth, with the European Banking Caball surrendering control of the global financial system by October 1st.

The world has been set on an irreversible course towards true independence, driven by a historic offensive to dismantle the remaining power of the 13 bloodlines. The Global Currency Reset (GCR) is transitioning from theory to reality, with the new asset-backed financial system becoming visible across global financial platforms.

 Rate differentials will be recalibrated in accordance with asset-backed algorithms, rendering NDAs obsolete. Once public knowledge is established, no organization can demand secrecy (NDA) for what is already laid bare.

Iraq stands on the precipice of historical announcements that will send ripples through the international financial community. The resurgence of a powerful Iraqi currency will not just symbolize the end of an era but the dawn of another. An order that sees the shackles of centuries-old financial tyranny shattered, ushering in an age of unprecedented global prosperity.

Imagine the magnitude of what this means. A true paradigm shift that redefines the fabric of society and the global economy, allowing you to witness the realization of the true American Dream a dream that was systematically denied to generations.

 Restitution is no longer a distant hope but a reality unfolding before us. This is not just a financial reset; it is the rebirth of human potential, a long-overdue reclamation of freedom and wealth that belongs to us all.

Stand ready, for the future that was once stolen is now being returned. The time has come to claim what is rightfully yours. The world is changing, and you are at the center of it. Prepare for the prosperity and transformation that will reshape history. Do your part. Make known your presence. This will never happen again. Make smart decisions.

~Your Future Stands Regardless Of What Has Befallen You

Source(s):  https://x.com/Prolotario1/status/1838335358603235807

https://dinarchronicles.com/2024/09/24/ariel-prolotario1-you-hold-all-the-cards-now/

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

Good Afternoon Dinar Recaps,

BRICS NEWS:

BLOCKCHAIN-BASED BRICS’ INTRA-BANK PAYMENT SYSTEM ABOUT TO BE LAUNCHED

Imagine a world where the financial dominance of the U.S. dollar is challenged not by a single nation, but by a coalition of emerging economies. This is the potential future with the launch of a blockchain-based BRICS payment system — a move that could reshape global trade, financial markets, and even geopolitics.

 But what would this system look like? And what are the broader implications for both BRICS nations and the rest of the world?

The Vision of a BRICS Payment System
The BRICS nations — Brazil, Russia, India, China, and South Africa — represent nearly 41% of the global population and around 25% of the global GDP. 

Their growing economic influence has made them seek alternatives to the U.S.-led financial order, which is deeply tied to the dominance of the U.S. dollar.

The idea behind a BRICS payment system is to reduce reliance on the dollar in global trade and financial transactions. Traditionally, the U.S. dollar has been the cornerstone of international trade, but this dependence comes with risks, including vulnerability to economic sanctions and exchange rate fluctuations. 

A blockchain-based payment system offers an alternative — one that is decentralized, secure, and potentially more efficient.

Why Blockchain?
Blockchain technology is the backbone of cryptocurrencies like Bitcoin, but its potential goes far beyond digital currencies. 

At its core, blockchain offers decentralization, transparency, and security. Transactions are recorded on a distributed ledger that is virtually tamper-proof, reducing the need for intermediaries like banks and lowering transaction costs.

For BRICS, adopting a blockchain-based payment system could revolutionize how they trade, offering several advantages over the current SWIFT system, which is heavily controlled by Western financial institutions.

In addition to being a tool for bypassing sanctions (especially relevant for countries like Russia), blockchain would allow BRICS nations to settle transactions quickly and securely, minimizing the dependency on U.S. financial institutions.

The End of Dollar Dominance?
One of the most profound impacts of a BRICS blockchain-based payment system would be its challenge to the dominance of the U.S. dollar. Today, the dollar serves as the world’s reserve currency, meaning that countries use it as the primary medium for international trade and hold it in reserves. This dominance allows the U.S. to wield enormous influence over global finance.

However, the emergence of an alternative global payment system — especially one that includes major economies like China and India — could weaken this grip. BRICS countries would be able to trade among themselves in their own currencies or via a new BRICS cryptocurrency, reducing their exposure to dollar volatility and circumventing the need for dollar reserves.

While dethroning the dollar won’t happen overnight, a successful BRICS payment system would certainly pave the way for a multipolar currency system, with the dollar, euro, yuan, and a BRICS token all vying for dominance.

This shift could result in reduced demand for the dollar, leading to currency depreciation and potentially higher interest rates in the U.S. as the country faces difficulties financing its deficits.

The Geopolitical Stakes
A BRICS payment system wouldn’t just alter the financial landscape — it would also have significant geopolitical implications. For years, the U.S. and its allies have used the global financial system, particularly access to SWIFT, as a tool for enforcing economic sanctions. 

Countries like Russia and Iran have been cut off from the global financial system for political reasons, which has led to economic hardship and increased tension.

With a blockchain-based payment system, BRICS nations would be far less vulnerable to these types of financial measures. They could trade freely without fear of being shut out of the global banking system, thus diminishing the effectiveness of Western sanctions.

This could embolden BRICS members to pursue more aggressive foreign policies, knowing that their financial systems are insulated from Western pressure.

Challenges to Launching the BRICS Payment System
Of course, launching a blockchain-based BRICS payment system is easier said than done. One of the biggest challenges will be technological infrastructure.

While blockchain is a proven technology, creating a scalable, secure, and interoperable system that can handle the transaction volume of global trade is no small feat.

Interoperability is particularly important. The system would need to work seamlessly with existing payment systems, such as SWIFT and other national systems, to ensure that it is widely adopted. Moreover, there are significant regulatory challenges. Each BRICS country has its own financial regulations, and aligning these to support a unified payment system would require extensive collaboration.

Another challenge is trust and governance. Who would control this new system? While blockchain is decentralized by nature, the question of governance still looms large. Would China, as the largest economy in BRICS, dominate the system? How would decisions be made? These are issues that the BRICS nations would need to resolve before a launch.

Economic Benefits for BRICS Members
Despite these challenges, the potential benefits for BRICS members are immense. A successful payment system would strengthen economic ties between these nations, allowing them to trade more freely and efficiently. This could lead to reduced transaction costs, increased investment, and faster economic growth.

Moreover, a BRICS payment system would give these countries greater control over their monetary policies. Currently, many emerging economies face difficulties when the dollar strengthens, as their debts become more expensive to service. By moving away from the dollar, BRICS nations could reduce their exposure to currency fluctuations and gain more control over their economic destinies.

Impacts on the Global Economy
For the rest of the world, the launch of a BRICS payment system would represent a significant shift in the global financial order. 

Emerging markets that have close ties with BRICS nations, such as those in Africa and Latin America, could benefit from easier access to trade and investment. However, developed nations, particularly the U.S., might see their economic influence wane.

In the short term, we could see increased volatility in global currency markets as countries adjust to the new system. The U.S. dollar may lose some of its luster as a safe-haven currency, while currencies like the yuan could gain prominence. This could lead to higher borrowing costs for the U.S. government and businesses as global demand for dollars decreases.

A Game-Changer in Global Finance?
The launch of a blockchain-based BRICS payment system could be one of the most significant developments in global finance in recent history.

By reducing reliance on the U.S. dollar and bypassing traditional financial systems, BRICS nations could gain more control over their economic futures and reshape the global financial landscape.

 While challenges remain, the potential for a more decentralized, multipolar world economy is becoming increasingly likely. 

Whether this will lead to greater stability or new geopolitical tensions remains to be seen, but one thing is clear: the future of global finance is changing, and BRICS is leading the charge.

@ Newshounds News™

Source:  Medium

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JUST IN: 🇹🇷🇮🇱 Turkish President Erdogan says "just as Hitler was stopped 70 years ago, Netanyahu and his murderous netBricwork must be stopped by an alliance of humanity."

BRICS Post Link

@ Newshounds News™

Source:  BRICS

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JUST IN: 🇧🇾 Belarus President Lukashenko orders military generals to "prepare for war."

BRICS Post Link

@ Newshounds News™

Source:   BRICS

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HOW DEMOCRATS HAVE SHIFTED ON CRYPTO

While Democrats are yet to outline much crypto policy, the Democratic National Convention showed a significant change in tone, say Justin Slaughter and Sheila Warren.

There’s nothing quite like a political convention. The pageantry of patriotic songs and speeches. The cavalcade of speeches by party leaders. And, of course, the thousands of balloons dropping like snow on the newly nominated presidential candidate.

Yet, for crypto, August’s Democratic National Convention was an especially auspicious one. Despite the open hostility of parts of the Biden Administration, crypto was for the first time a welcomed participant. It makes sense: crypto owners now comprise about 20 percent of all registered Democratic voters, according to a Paradigm poll of Democratic voters a few days before the convention.

There is severe electoral risk if some of these Democrats deflect to the Republican ticket in a race that could be won in the margins.

Considering that the Republicans have openly and aggressively courted crypto, crypto’s coming out at the DNC signaled that the industry was, finally, beginning to have a truly bipartisan hue. Those on the ground in Chicago got to see this blossoming of Democratic interest first hand.

While most of the crypto-focused conversations were offstage, there was a hint of crypto’s growing importance in the main convention hall too. Young pro-crypto members of Congress and candidates for Congress like Rep. Jasmine Crockett (D.-TX) and congressional candidate Shomari Figures of Alabama both received significant speaking slots.

 Some crypto companies also hosted policymakers for discussions off the convention floor, as other companies and organizations have done for decades. Vice President Harris herself stressed the importance of building an “Opportunity Economy” in her keynote, with a special grace note praising the role of Founders in making America prosperous.

This was just the proverbial tip of the political iceberg, though. It’s easy to forget when you’re watching convention programming during primetime, but political conventions are much more than a few hours of short speeches and slick videos. Conventions are, at base, about letting members of a political party agglomerate in one physical space every few years, both for socialization and for strategizing.

As part of this communal process, the week was filled with panels, meetings, and even press interviews, all of which are designed to help the party build consensus on its policy views, goals, and even beliefs. These are the interstitial material that truly comprises our decentralized political parties. And it’s here that crypto really got to make its voice heard.

Over the week, there were panels on the basics of how crypto works and how Democrats can work to rectify the party’s strained relationship with crypto.

There were discussions about the importance of maintaining the hegemony of the dollar and the role of stablecoins. And there were frequent coffee and water cooler discussions with dozens of policymakers about how they can appeal to crypto owners.

During chats that week with a host of different policymakers and opinion leaders, we were most struck not by the statements of crypto supportive policymakers, but the skeptics. 

Even some ardent crypto skeptics said the current enforcement-only approach at the SEC wasn’t working, and that there was a need for legislation. As two people who have been calling for reasonable legislation for years, this was music to our ears.

The other part that was especially notable was just how normal it was. Policymakers were curious about crypto, both how it worked and its involvement in this year’s elections.

But this curiosity was not hedged with the upturned nose that accompanied some discussions about crypto in DC even last year. Instead, we were seen as just another young and novel industry, one that policymakers were trying to grok.

The Harris campaign underscored this banal normality when it made news of its “support” for crypto’s growth in a press interview with the campaign’s policy director, Brian Nelson. Despite some anxiety about Nelson’s view of crypto given his recent role as Undersecretary of the Treasury for Terrorism and Financial Intelligence, Nelson announced on the third day of the DNC that a Harris Administration would “support” the growth of crypto in America. 

The statement was remarkable given how much a political war has been waged on crypto, and unremarkable for how basic it was. Why wouldn’t an American president want an industry to stay headquartered in America?

The Harris campaign has since released its platform, which has emphasis on entrepreneurs, small businesses, and American innovators. While crypto and other technologies are not mentioned by name, the rhetoric and tone used in the platform differs significantly from that of the Biden administration.

Since the DNC, both of us have continued to meet with policymakers and candidates from across the political spectrum, and what is remarkable is how similar most conversations are, whether with Democrats or Republicans down the ballot.

Policymakers are tired of (and in some cases, shocked by) the SEC’s approach under Chair Gensler. They want to preseerve and promote American national security and economic interests. And, by and large, they are deeply concerned about inadvertently ceding technological advantages to other jurisdictions, as happened with semiconductors.

More than anything else, an overarching feeling of simple acceptance for crypto pervaded Chicago. There are still many miles to go for the Democrats to actually find workable solutions for how they want to regulate crypto, but the first step to building something is to commit to doing it.

We were pleased to see Vice President Harris acknowledge recently that digital assets technologies need to be encouraged; while we may not have a schematic for how Democrats will execute a reset with crypto, both the DNC and recent Crypto4Harris event showed that Democrats across the ticket no longer question as a default whether crypto has a right to exist. That’s progress worth celebrating with a balloon drop.

@ Newshounds News™

Source:  CoinDesk

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XRP NEWS: RIPPLE’S 1,700 BANK DEALS COULD SEND PRICES SOARING – HERE’S WHY!

XRP is pivotal as bulls fiercely defend the critical $0.5785 support, setting the stage for a potential breakout. With the price consolidating and eyeing key resistance levels at $0.5920 and $0.600, the question is: will bulls take over and drive XRP higher, or is another decline looming? This battle for control could define XRP’s next big move, with significant upside potential if key levels are breached.

Analyst Take on XRP Price
Crypto analyst known as CryptoTank shared a detailed thread on the essential factors that will push XRP’s price in the future, focusing on its utility for settling large-scale transactions between financial institutions.

According to CryptoTank, to understand XRP’s price, it’s critical to distinguish between market capitalization and utility. The value of utility assets like XRP is calculated by the value and volume transacted on the ledger, divided by the circulating supply. This differs from conventional market cap metrics and means that XRP’s price is inherently linked to its usage by institutions, not by retail investors.

Deep Liquidity Is Key for Banks
CryptoTank highlights that banks using XRP for settlements must have deep liquidity. Institutions such as Bank of America, SBI, JP Morgan, and Swift settle a staggering $25–30 trillion daily. 

Even if only 10% of these transactions are conducted using XRP, that’s about $3 trillion on the ledger, requiring an even larger liquidity pool—likely double the transaction amount—to avoid potential failures.

The need for such deep liquidity stems from banks’ inability to afford transaction failures. A failed transaction can lead to costly delays and complications. 

Therefore, liquidity pools must be robust enough to ensure smooth settlements, and this demand will be crucial in driving XRP’s utility and, consequently, its price.

Ripple’s Expanding Network
Ripple’s influence isn’t just limited to a few banks; the company has over 1,700 undisclosed agreements (NDAs), potentially amplifying XRP’s demand and liquidity needs.

CryptoTank emphasizes that the numbers given are just examples of a few key players, and when the full scope of these institutions is considered, the liquidity requirements—and hence XRP’s value—could be even more massive.

One of the major standout points is that retail investors have little to no influence on XRP’s price. The price won’t rise based on retail buying pressure because retail activity pales compared to the daily settlement needs of massive institutions.

Likewise, chart analysis, which many traders rely on, is ineffective for predicting XRP’s price movements because it cannot account for the utility and liquidity requirements that will ultimately determine the token’s value.

@ Newshounds News™

Source:  Coinpedia

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Newshound's Currency Facts Youtube and Rumble

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Economist’s “News and Views” Tuesday 9-24-2024

Will China and BRICS Nations Destroy the Dollar?

VRIC  Media:  9-23-2024

Welcome to the official VRIC channel. Today, the discussion centers around the increasing momentum toward the de-dollarization of global trade, led by the BRICS nations.

As China, Russia, and other emerging economies strengthen economic ties and finance critical infrastructure projects worldwide, a shift toward a multipolar world is becoming more apparent.

With talks of a gold-backed trade settlement currency on the horizon, the dominance of the U.S. dollar appears increasingly fragile.

The conversation explores the upcoming BRICS summit and speculates on the feasibility of a new currency standard that could redefine global financial power dynamics.

Could we be witnessing the end of dollar hegemony?

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

They Say It’s IMPOSSIBLE For the Dollar to Collapse

Taylor Kenny:  9-24-2024

The truth about your cash's value might shock you. Governments are printing money at will, eroding the wealth you've worked hard to build. Discover why gold and silver are the real stores of value and how to protect your wealth against the ongoing confiscation happening through inflation.

CHAPTERS:

00:00 - The Illusion of Cash Value

00:36 - What the Dollar Lacks

01:16 - Gold: The True Money

01:49 - Government’s Plan for Unlimited Spending

 02:27 - Inflation and Wealth Confiscation

03:46 - Deficit Spending and the Mega-Rich

 04:27 - Protecting Wealth with Gold and Silver

 05:40 - J.P. Morgan’s Warning About True Money

https://www.youtube.com/watch?v=Vr4T6iObf2A

"The FED is Terrified of a Stock Correction" - Mike Maloney & Chris Martenson

9-24-2024

At the Limitless conference, Mike Maloney sits down with Chris Martenson to discuss the real state of the economy and the dangers ahead.

From the Federal Reserve's policies that fuel wealth inequality to the fragility of the markets, they dive deep into why the average person is being left behind while the rich get richer.

Chris shares his insights on why we may already be in a recession, and they both criticize the role of the Federal Reserve in creating economic imbalances.

This eye-opening discussion is a must-watch for anyone who wants to understand how these issues affect not only the economy but also society as a whole.

https://www.youtube.com/watch?v=wu1I6JRFhO0

“Tidbits From TNT” Tuesday 9-24-2024

TNT:

Tishwash:  Removing zeros from the Iraqi dinar is back in the spotlight..Strengthening the currency or just changing its form?

 Talk has returned again about the process of removing zeros from the local Iraqi currency, as the Central Bank of Iraq confirmed that the project to remove zeros from the dinar is subject to continuous review and study.

Countries remove zeros from their currency to revalue their national currency and simplify financial transactions. This is done by removing a specific number of zeros from the nominal value of the currency, making it appear less inflationary and more stable.

The central banks of these countries usually issue a new currency, equal in value to one hundred thousand or one million of the old currency, with the old currency gradually being withdrawn from the markets, after a period in which the two currencies are allowed to be used side by side. The most famous countries that have implemented this process, more than once, successfully were Turkey and the former Yugoslavia.

In his statements, Ali Mohsen Al-Alaq, Governor of the Central Bank of Iraq, considered that the bank responded to global economic challenges such as rising energy and raw material prices by amending some monetary policies in line with the international situation and to enhance confidence in the Iraqi dinar and prevent a sharp decline in its value.

Al-Alaq pointed out that the Central Bank of Iraq increased its holdings of foreign exchange and gold reserves to strengthen the country's financial position and stability, in order to enhance its ability to confront potential economic crises.

Commenting on this, economic researcher Ali Daadoush said in an interview with Al-Mada, “The process of deleting zeros is linked to the Central Bank of Iraq,” indicating that “the issue is not new and was previously discussed about 14 years ago. “

Daadoush pointed out that "the process of deleting prices is psychological, as the commodity worth a thousand dinars will be worth one dinar and remain at the same value."

The economic researcher pointed out that "removing zeros leads to flexible dealing with the local currency and strengthens it, and may lead to increased production and diversification of the economy, and thus enhance the value of the Iraqi dinar."

For his part, economic affairs expert Mustafa Hantoush said in an interview with Al-Mada, “The issue of removing zeros from the Iraqi currency is only arithmetic and keeps the currency at the same value. That is, when you sell a house for 100 million, it will be sold for 100 thousand.”

Hantoush added that "countries resort to deleting zeros when there is an expansion in the value of the printed currency and problems occur in the book value and accounting entries, for the purpose of restoring accounting balances."

The economic researcher went on to say, “Iraq is currently suffering from problems with the exchange rate,” indicating that “the value of printing and replacing the currency costs Iraq time, effort and millions of dollars.”

Hantoush said, “The situation now requires focusing on how to maintain the value of the Iraqi currency against foreign currencies.”

According to the latest data, the Central Bank of Iraq's foreign reserves cover 83.62% of the broad money supply, which covers the cost of importing 15 months, while the global standard rate is 20%, covering 6 months of importing.

Foreign exchange reserves are a tool used by all central banks to maintain the stability of the local currency exchange rate against foreign currencies, as well as to reduce exposure to external crises by maintaining liquidity in foreign currency to absorb shocks in times of crisis.

The Iraqi currency is under great pressure, which has caused its price to decline against the dollar during the past period, including the increase in the Iraqi budget deficit. Two weeks ago, Mazhar Salih, financial advisor to Iraqi Prime Minister Mohammed Shia al-Sudani, said that Iraq will face a budget crisis in 2025 due to the decline in oil prices, the country's main source of revenue. Salih said in an interview with Reuters: “We do not expect major problems in 2024, but we need stricter financial discipline in 2025.” link

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Tishwaash: Iraq is close to completing its financial transfers electronically.. and the US Treasury reveals its economic growth rate

Prime Minister Mohammed Shia Al-Sudani received yesterday evening, Monday (Baghdad time), US Deputy Secretary of the Treasury Wally Adeyemo, and a number of officials in the Treasury Department.

 According to a statement by the Prime Minister's Office, a copy of which was received by {Euphrates News}, the meeting witnessed "discussing bilateral economic relations between the two countries in various vital sectors, reviewing the government's efforts and plans for economic and financial reform, the move towards diversifying the sources of Iraqi output, enhancing development targets, and practical measures implemented in the field of combating money laundering."

The Prime Minister stressed that the government has made great strides in the financial and banking reform file, and 95% of bank transfers have been completed through the electronic platform, and less than 5% remains to be completed by the end of this year, after which the transition to the correspondent banking system will take place, in accordance with the government’s approach and its commitment to raising the capabilities of Iraqi banks, in line with international standards and meeting the needs of the thriving investment environment in Iraq.  

For his part, Adeyemo praised the progress witnessed by Iraq in the field of economic and banking reforms that were achieved in record time, and the state of economic growth that reached a total of about 6%, which enhances the government's efforts in development, expressing his readiness to cooperate and work within a bilateral partnership that serves the interests of economic development. link

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Tishwsh: Aramco begins issuing international dollar-denominated sukuk

 Saudi Arabian Oil Company (Saudi Aramco) announced the launch of international dollar-denominated sukuk, starting from today, Tuesday, September 24, 2024, until October 2, 2024.

The minimum subscription is $200,000 and integral multiples of $1,000 in excess of that amount, subject to market conditions.

The nominal value of the offering is $200,000, and the return value and maturity period are determined according to market conditions.

This comes after Saudi Aramco announced its intention to issue international sukuk under the SA Global Sukuk Limited's Trust Certificate Issuance Program.

The company said in a statement on the Saudi Stock Exchange (Tadawul) today, Tuesday, that the sukuk will be denominated in US dollars, and will be direct, priority, unsecured, with a limited right of recourse to the assets, which constitute an obligation on (SA Global Sukuk Limited).

The value of the offering will be determined based on market conditions. The net proceeds will be used for general corporate purposes of Saudi Aramco.

The offering is subject to regulatory approval and will be offered in accordance with Rule 144A/Reg S of the U.S. Securities Act of 1933, as amended.

The FCA and ICMA stability rules will also apply to the offering. An application will be made for the Sukuk to be admitted to the Official List of the FCA and the London Stock Exchange. The Sukuk will also be admitted to trading on the London Stock Exchange.

Saudi Aramco has appointed Al Rajhi Capital, HSBC, First Abu Dhabi Bank, Dubai Islamic Bank PJSC, Standard Chartered Bank, KFH Capital, Goldman Sachs International, J.P. Morgan and Citi as Joint Active Bookrunners to organize a series of fixed income investor meetings commencing on 21 Rabi’ Al-Awwal 1446H (corresponding to 24 September 2024G).

SMBC Nikko, Alinma Investment, Albilad Capital, MUFG, Abu Dhabi Commercial Bank PJSC, POCI Asia Limited, Emirates NBD Capital Limited, Sharjah Islamic Bank, Mizuho and Natixis have been appointed as Joint Bookrunners for the inactive subscribers.

The offering of these international sukuk will be limited to qualified investors in the countries in which the offering will take place, in accordance with the laws and regulations in force in those countries.link

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Mot: No Matter what! - ole ""Earl"" can't get ahead!! –

Mot.. Just Saying ----I phone costs as much as washer and dryer

News, Rumors and Opinions Tuesday AM 9-24-2024

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

RV Excerpts from the Restored Republic via a GCR: Update as of Tues. 24 Sept. 2024

Compiled Tues. 24 Sept. 2024 12:01 am EST by Judy Byington

Judy Note: Liquidity for the Global Currency Reset would both activate on Tues. 1 Oct. So I’m thinking, hoping, believing we can count on it actually happening this time.

Global Currency Reset:

“On Tues. 1 Oct. 2024 U****c. Corp. Dissolves – Ends Fiat Monetary System Experiment. Gold/Asset-Backed Quantum Financial System Locked, Loaded & Taking Over.” …on Telegram Sat. 21 Sept. 2024

“The first week in October over the Emergency Broadcast System, the military will (allegedly) reveal all. Also, in the first week of October, we expect to see various countries adopting and rolling out a valid QFS. Military reserves and armies are expected to be activated in the US, Canada, UK, EU, Iceland, South America, Mexico, African regions, Malaysia and over 80 other countries.” … (JFK Jr.) on Telegram Sat. 21 Sept. 2024

Judy Note: Tues. 1 Oct. is the date the new United States of America Restored Republic and Global Currency Reset (allegedly) begin and when the Cabal’s fiscal year ends. Most important, Tues. 1 Oct. is the deadline for banks to be Basel III Compliant (monies backed by gold) or they will be closed. The banks will be taking on a different role as service-only centers.  In other words, after Tues. 1 Oct. the Caball which has been officially bankrupt since 2008, will no longer have access to US Taxpayer dollars.

Mon. 23 Sept. 2024: Bombshell Report! Judy Byington: The Great Awakening Is Upon Us. American, European Banks Collapse. QFS Becomes Fully Operational. Prepare, Patriots… – amg-news.com – American Media Group

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Global Financial Crisis:

Judy Note on the New York Stock Market: For the last over two weeks the DOW and S&P have had almost the same numbers (Dow 41,6xx; S&P 5,6xx), just changed the background to sometimes red, or sometimes green. You’d think that if they were going to effectively manipulate the Market without people finding out, they would be more creative.

Mon. 23 Sept. 2024: Breaking News: BlackRock Files for Bankruptcy! The Unbelievable Collapse of a Financial Giant – amg-news.com – American Media Group

Mon. 23 Sept. 2024: RV/GCR and EBS Disclosure: The Global Financial Armageddon and the Collapse of Nine Nations – The Impending EBS Disclosure and Market Crash – amg-news.com – American Media Group

Mon. 23 Sept. 2024: Breaking News: BlackRock Files for Bankruptcy! The Unbelievable Collapse of a Financial Giant – amg-news.com – American Media Group

Read full post here:  https://dinarchronicles.com/2024/09/24/restored-republic-via-a-gcr-update-as-of-september-24-2024/

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

Militia Man   The '23, '24, '25 tripartite budget for investment they haven't exposed it yet...Why not?  Probably because it has an exchange rate sensitivity to it.
9-23-2024  

Jeff  Iraq has been secretly amending the budget in the background preparing for this budget period and getting the budget done.  After they approved it June 3rd it was never really completed or published in the Gazette.  They've been secretly amending it since that point forward...This investment has gotten real.

Frank26   [Iraq boots-on-the-ground report]   FIREFLY: Television is telling us if we make cash payments on bills we will be charged an extra 5%.  If we use our cards to make payments we will not be charged 5% extra.  Isn't that the opposite of normal ways of doing it?  FRANK:  That is correct...You're going international.  You have to use your cards.  If you use cash you'll be punished.  Use your cards...

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Buy Gold, Dump Dollars: US Billionaires Plan for the WORST as More Fed Cuts Loom

Daniela Cambone:  9-23-2024

"The Fed will be forced to pivot, and when they do, it's going to send gold soaring even higher,” says Brien Lundin, editor of Gold Newsletter and CEO of the New Orleans Investment Conference.

Speaking with Daniela Cambone, Lundin explained that the Fed is cornered, with no choice but to cut rates to support the weakening economy.

He emphasized that these expected rate cuts will continue to weaken the U.S. dollar, further enhancing gold’s appeal as a safe-haven asset.

CHAPTERS:

 00:00 The Gold Rally: A Stealth Bull Market?

 03:01 Impact of the Fed on Gold Prices

6:16 Gold as a Hedge Against Inflation

08:13 The Future of Gold Prices

10:59 The Fed's Role and Economic Concerns

12:26 Political Implications for Gold Investors

 16:29 The New Orleans Investment Conference

https://www.youtube.com/watch?v=pjCa9bXa_yk

Ancient Connections Egypt Babylon Iraq Iran and the IQD Importance

Edu Matrix:  9-24-2024

Documentary Title: Ancient Connections: Egypt, Babylon, Iraq, Iran, and the IQD - This documentary delves deep into the historical, religious, and cultural connections between Egypt, Babylon, Iraq, and Iran, tracing how these ancient civilizations have shaped the modern geopolitical and spiritual landscapes of the Middle East.

It begins by exploring the rich histories of Egypt and Babylon—two of human history's most influential and ancient civilizations—while highlighting their enduring legacies in Iraq and Iran today.

The film sheds light on the complex civil unrest within the Islamic religion, analyzing the divisions, conflicts, and ideological struggles that have persisted over centuries and still influence the region's political dynamics. The documentary also takes a comparative approach by examining how Christianity fits into this intricate web of religious beliefs, identifying the similarities and stark differences between Christianity, Islam, and Judaism, which is older than either Christianity or Islam.

https://www.youtube.com/watch?v=nUTGkRZ2ON0

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

Good Morning Dinar Recaps,

RIPPLE VS SEC: JOHN DEATON BRINGS SEC MISCONDUCT TO LIGHT – XRP NEWS

▪️Pro-crypto attorney John Deaton has slammed the US SEC over the Ripple lawsuit.

▪️Deaton demanded damages for the XRP community and called for mass layoffs.

Pro-crypto attorney John Deaton has shed more light on the recently concluded case between the US Securities and Exchange Commission (SEC) and Ripple Labs Inc. According to the latest development, Deaton has accused SEC lawyers of intentional misconduct.

John Deaton Accuses SEC of Misconduct
In a recent YouTube interview, Deaton said the SEC exhibited serious misconduct by claiming that XRP is a security. This take comes as the US SEC recently apologized for the confusion caused by using the term “crypto asset securities.”

However, Deaton says the Ripple vs SEC case wasted money, capital, and energy. He said XRP immediately lost $15 billion, and people were liquidated when the markets regulator initiated the lawsuit.

“You shouldn’t be liquidated because of government overreach because the government and these unelected bureaucrats are doing what they are doing,” says Deaton.

According to him, Ripple spent over $100 million on defense. Deaton stated that he and XRP community members demanded that the SEC remove the “XRP is a security” language to resolve the case. He claims the SEC refused and even attacked him.

As a result, he said the SEC’s apology cannot be accepted and claims the lawsuit was intentional misconduct by its lawyers.

“People should be fired, they should lose their jobs if they were in the decision-making process,” Deaton stated.

He added that Ripple and the XRP community deserve compensation for the extensive litigation and expense over the SEC misconduct. Before the interview, Deaton wrote in an X post that the SEC’s crypto overreach has cost retail investors $15 billion. Deaton’s comments resonated with many XRP investors, even beyond the community, fueling ongoing discussions.

Is an Appeal Imminent?
His comments come as discussion grows over whether the SEC will appeal the Ripple decision. As mentioned in our earlier post, former SEC attorneys Marc Fagel and James Farrell are confident that the SEC will file an appeal. Attorney Fred Rispoli added that the SEC is still undecided and may wait until the last minute to make an appeal announcement.

However, Ripple’s Chief Legal Officer Stuart Alderoty confirmed that Ripple does not intend to appeal. He said Ripple had obtained a stay order on a $125 million penalty pending further proceedings.

Meanwhile, investor caution and market volatility could continue to impact XRP negatively if the case drags on. At press time, XRP is trading at $0.5883, down by 0.71% in the past 24 hours. The 24-hour trading volume decreased by 15.5% to $938 million, indicating reduced investor interest.

Despite current challenges, analysts predict a positive breakthrough for XRP as Ripple prepares for the Ripple Swell 2024 event. Another development that could push XRP higher is Ripple’s participation in Project Agora. As CNF noted earlier, this project, led by the Bank of International Settlements (BIS), will help boost Ripple’s global influence.

@ Newshounds News™

Source:  Crypto News Flash

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SEC CHAIR GARY GENSLER ADDRESSES CONGRESS ON CRYPTOCURRENCY REGULATION

▪️Gary Gensler will testify before Congress regarding SEC's cryptocurrency policies.

▪️His leadership faces scrutiny from both parties amid upcoming elections.

▪️The SEC's stance on crypto continues to draw significant criticism.

On Thursday at 18:40, Gary Gensler, the Chair of the U.S. Securities and Exchange Commission (SEC), will testify before Congress. The cryptocurrency market is focused on Gensler’s upcoming statements and his aggressive stance on altcoins, as the SEC faces increasing scrutiny.

Gensler to Speak Before Committees
On September 24 and 25, Gensler will appear before the Financial Services Committee and the U.S. Senate Banking Committee. His leadership has been under intense review from both partisan and political perspectives, making his statements highly anticipated. Republican committee members have criticized the SEC’s negative stance on cryptocurrencies for years, which has highlighted the Democrats’ anti-crypto position.

As the upcoming presidential elections approach, it is expected that lawmakers will press Gensler on cryptocurrency regulations and the handling of fraud cases such as FTX and Terra. Meanwhile, Coinbase‘s legal counsel received significant backlash for criticizing the SEC’s claims about “crypto asset securities.”

Gensler’s Supporters Decline
Ron Hammond, Director of Government Relations at the Blockchain Association, states that Gensler will face tough questions from both parties. Hammond noted that this session will differ from previous ones.

“Gensler has fewer allies this time; many are dissatisfied with the agency’s recent crypto approach.” – Ron Hammond

This marks the first time Gensler will testify alongside other SEC Commissioners, adding to the significance of the sessions. 

While Democratic leaders are expected to defend their policies, Republicans may question the agency’s direction, potentially aiding their electoral efforts by appealing to cryptocurrency investors.

Under Gensler’s leadership, the SEC continues to face heavy criticism from the crypto community and lawmakers. Recent examples include sharp critiques from House Majority Leader Tom Emmer and Financial Services Committee Chairman Patrick McHenry regarding the SEC’s classification of crypto airdrops as securities.

The timing of Gensler’s testimony adds fuel to the debate, as he has faced frequent criticism from courts and Congress over the SEC’s aggressive enforcement tactics. Additionally, former President Donald Trump has stated that he would remove Gensler if he wins the upcoming elections.

Gensler’s testimony in Congress could hold critical importance for cryptocurrency regulations and the SEC’s future policies. Market participants and investors are closely monitoring the outcomes of these sessions.

@ Newshounds News™

Source:  Coin-Turk

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TALIBAN INVITE TO BRIC? WHAT?  |  Youtube

@ Newshounds News™

Source: Seeds of Wisdom Team Currency Facts   

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Jim Rickards: This is MONUMENTAL! Nobody is PREPARED for What's Coming  |  Youtube

@ Newshounds News™

~~~~~~~~~

Newshound's Currency Facts Youtube and Rumble

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Seeds of Wisdom RV and Economic Updates Monday Evening 9-23-24

Good Evening Dinar Recaps,

TURKEY TENDS TO VIEW BRICS AS A POLITICAL TRUMP CARD AGAINST THE WEST — EXPERT

Turkish economist Bartu Soral noted that when looking at "the global distribution of power, it is clear that huge changes have occurred since the early 2000s"

ANKARA, September 23. /TASS/. Turkey's interest in BRICS has economic considerations, but purely political motives are also strong, Bartu Soral, one of the country’s leading economists, said in an interview with TASS.

"The decline of the West's dominance in the international system brings BRICS to a leading position in production and export. In this context, Turkey values its relations with the Turkic countries and with Russia, which is active in the region. There are many points of contact here.

Nevertheless, I think that the interest in BRICS declared by the Turkish government is an attempt to gain a trump card against the West and has political motives," he believes.

The expert noted that when looking at "the global distribution of power, it is clear that huge changes have occurred since the early 2000s. The G7 countries used to dominate, while today, for example, the EU and Japan have lost power."

"On the contrary, the BRICS countries are leaders in global exports and production. China has acquired significant production and technological power, including thanks to its excellent education system. Russia is strong in the defense industry. Brazil ranks second in the world in food exports. The Anglo-Saxons, who dominated in the 1990s, are losing ground," Soral noted.

Touching upon Turkey's political motives, the economist noted that BRICS is an economic association that needs to be approached in this spirit.

"We need a national program, a roadmap for interaction with BRICS, a production program in various industries in the context of the BRICS economy. Personally, I do not see such plans from the government and I think that Turkey's application does not have a serious economic basis," the economist believes.

Earlier, Turkish Foreign Minister Hakan Fidan said that Ankara was assessing its participation in BRICS from the point of view of economic cooperation opportunities, but said that "the association itself is currently searching for an identity, options for institutionalization" and therefore it is difficult to say to what point the republic's interaction with BRICS may reach.

 Nevertheless, Fidan noted that "if Turkey's integration with the EU had ended with full membership in the union, then perhaps Turkey would not be looking for other options on many issues.".

@ Newshounds News™

Source:  TASS

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QATAR LAUNCHES DIGITAL ASSETS LAB

Last week the Qatar Financial Centre (QFC) unveiled the first participants in its Digital Assets Lab, “powered” by the Qatar Central Bank. The QFC avoided using the term sandbox, although the Lab’s aims sound similar, but broader. 

The goal is to encourage innovation and development in the distributed ledger technology (DLT) space. Plus, it provides regulatory support and is one of the pathways for landing a license to operate in Qatar.

It follows the recent launch of Qatar’s Digital Asset Regulations at the start of the month.

The creation of the Lab involved partnering with Google Cloud, local bank Masraf Al Rayan, The Hashgraph Association (THA) and enterprise blockchan firm R3.

“As the base product for the QFC ecosystem, R3’s Corda will power tokenization projects across Qatar’s financial industry, supporting the issuance, transfer, and redemption of digital assets,” said R3’s CEO David E Rutter.

However, some applications are likely to be deploy on the public Hedera DLT. In May the affiliated Hashgraph Association (THA) announced a $50 million Digital Assets Venture Studio in Qatar which is part of the Lab.

THA is planning to work in five areas:

▪️Equity Tokenization
▪️Sukuk (Islamic Bonds) Tokenization
▪️Real Estate Tokeniszation
▪️Sustainability/ESG – Carbon Credits
▪️Consumer engagement and loyalty programs

The Middle East is becoming a hotbed for tokenization, with multiple regulatory enclaves within the UAE alone, never mind Saudi, Qatar and elsewhere. Qatar’s banking sector is already internationally diversified, with around 30% of deposits from foreigners.

The Qatar Central Bank, which is involved in the Digital Assets Lab, completed its central bank digital currency infrastructure in June.

Digital Assets Lab participants
The Digital Assets Lab isn’t purely for new startups. We’ve regularly covered several of the participants, including Partior, Polygon, Settlemint, Taurus and Citi-backed xalts.

The full list of initial participants are: AISCIA, ALT DRX, arca-x, AssetShare, Audtye, Blade Labs, BlockStead, DMZ, evergon, Finrock, Falcon Nest Labs, itoo technologies, mintus, oori, Partior, Polygon, PropTech, ScieNFT, SettleMint, SidraChain, Skargard, Taurus, xalts, and Verity.

@ Newshounds News™

Source:  Ledger Insights

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Telegram may hand over user data of rule violators to authorities

The Telegram team has removed all problematic content from there in recent weeks, Pavel Durov said, without giving any details

MOSCOW, September 23. /TASS/. Telegram co-founder Pavel Durov said that the messenger can disclose user IP addresses and phone numbers in response to legitimate requests from the relevant authorities. He clarified that this measure concerns violators of Telegram rules and is being introduced to deter criminals from abusing the messenger's internal search function.

"We have clarified that the IP addresses and phone numbers of those who violate our rules can be disclosed to the relevant authorities in response to justified legal requests," Durov said, specifying that Telegram has updated its terms of service and privacy policy, bringing them to uniformity worldwide.

As Durov explained, some users were abusing Telegram’s search function to sell illegal goods. The Telegram team has removed all problematic content from there in recent weeks, he said, without giving any details.

"Over the past few weeks, a special team of moderators has used artificial intelligence to make the Telegram search much safer. All problematic content that we identified in search is no longer available," Durov said. He also called on users to report illegal content.

@ Newshounds News™

Source: TASS

  ~~~~~~~~~

Who Are These Mysterious People? Discover The Power Of Discernment  |  Youtube

@ Newshounds News™

Source: Seeds of Wisdom Team Currency Facts 

~~~~~~~~~

Newshound's Currency Facts Youtube and Rumble

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Thank you Dinar Recaps