Sovereign Debt Collapse to Flip Global Monetary System

Sovereign Debt Collapse to Flip Global Monetary System

Sean Foo and Andy Schectman:  8-27-2024

 As the US debt plateaus at over $31 trillion, a significant concern looms for economists, policy makers, and citizens alike: the possibility of sovereign default.

The consequences of such an event extend beyond mere finances; it signals a seismic shift in the global economic order, potentially leading to a reset of monetary systems and a renewed recognition of gold’s value as a cornerstone of wealth preservation.

This exploration examines the factors contributing to the current financial landscape, the looming threat of default, and how international tensions shape our economic reality.

Every day, the US government grows tighter with its fiscal policies, choosing to borrow extensively to finance its obligations. The debt has soared due to persistent budget deficits, which often result from a mix of extravagant spending and declining revenues.

 As interest rates rise, so do the costs associated with servicing this gargantuan debt. The Debt-to-GDP ratio continues to climb, causing concern among analysts that a tipping point will soon be reached—one where the US will spend more on debt servicing than it does on crucial domestic programs.

In the face of potential economic turmoil, many investors are revisiting gold as a fundamental asset. Historically, gold has maintained its value even in times of crisis, often serving as a hedge against inflation and currency devaluation.

\Should a sovereign default occur, it’s likely we would see a rush to gold, as investors seek to protect their wealth when traditional currencies falter.

Moreover, gold’s growing appeal can be linked to the increasing uncertainty surrounding fiat currencies, especially the US dollar. The more volatile and unpredictable the monetary policy, the more individuals and countries may turn to gold as a reliable store of value.

While the internal economic factors pose significant challenges, the landscape of international relations exacerbates the situation. The economic war between the US, China, and Russia is intensifying, with sanctions, trade conflicts, and technological rivalry shaping a new multipolar world order.

Superpowers are increasingly weaponizing economic dependencies, with China promoting the Yuan in international trade and Russia expediting efforts to bypass the US dollar. This tension heightens the potential for conflict and instability, which could ultimately bring about an economic environment ripe for crisis.

As the dynamics of international economics shift, the US’s precarious financial situation becomes even more alarming. The interplay of escalating debt, potential default, and the increasing value of gold amidst geopolitical strife creates a perfect storm that could steer us toward a financial cliff.

The confluence of skyrocketing US debt, the specter of sovereign default, and escalating geopolitical tensions creates a maelstrom of uncertainty in our economic landscape. While we can only speculate on the exact timeline and nature of these impending crises, one truth remains clear: the decisions we make today will shape the financial reality of tomorrow.

Understanding these risks and strategically positioning oneself for the potential economic reset could be the key to navigating what lies ahead. Prepare, adapt, and maintain vigilance—because the storm is approaching, and its arrival could redefine the world as we know it.

Watch the video below from Sean Foo with Andy Schectman for further insights.

https://youtu.be/E_IMWfgFwZg

https://dinarchronicles.com/2024/09/27/sean-foo-sovereign-debt-collapse-to-flip-global-monetary-system/

More News, Rumors and Opinions Friday PM 9-27-2024

Ariel:  Iraqi News Update

Recent historical moves in Iraq’s financial sector indicate a significant stride towards modernizing banking operations. According to the latest info. Iraq is poised to complete its transition to an advanced banking system, aligning with international financial standards.

This overhaul, which is approximately 95% complete, aims to conclude by the end of 2024, marking a critical moment in Iraq’s economic reform.

The core of this transformation involves moving away from the wire auction system to direct correspondent banking relationships. This shift aims to not just an upgrade in operational efficiency but also aims at combating corruption and fostering transparency in financial transactions. Which will create Security & Stability in all Iraq.

You all should be jumping around your home & office at this news. You were just told by the CBI that they only have 5% left to do and you will be able to cash in your currency. Do you know how long people have been waiting for this news?

Can you imagine that on that day it will be your last time being broke? And you will have the opportunity to start the year off with a bang.

This comprehensive banking reform is not just about operational changes but represents a broader vision for Iraq’s economic renaissance. By integrating with the global financial network more seamlessly, Iraq is setting the stage for a future where its economy is not only resilient but also a key player in regional financial dynamics.

𝙏𝙝𝙚 𝙪𝙣𝙞𝙫𝙚𝙧𝙨𝙚 𝙞𝙨 𝙖𝙗𝙤𝙪𝙩 𝙩𝙤 𝙘𝙝𝙖𝙣𝙜𝙚.
𝙔𝙤𝙪𝙧 𝙬𝙤𝙧𝙡𝙙 𝙞𝙨 𝙖𝙗𝙤𝙪𝙩 𝙩𝙤 𝙘𝙝𝙖𝙣𝙜𝙚.
𝙔𝙤𝙪𝙧 𝙘𝙤𝙪𝙣𝙩𝙧𝙮 𝙞𝙨 𝙖𝙗𝙤𝙪𝙩 𝙩𝙤 𝙘𝙝𝙖𝙣𝙜𝙚.
𝙔𝙤𝙪𝙧 𝙡𝙞𝙛𝙚 𝙞𝙨 𝙖𝙗𝙤𝙪𝙩 𝙩𝙤 𝙘��𝙖𝙣𝙜𝙚.

Everything that had been happening up until this point with all the corruption in our lives are about to cease to exist in all forms of evil.

Banking
Government
Technology
Medical
Education
Music

I told you all for years now Everything starts with Iraq. And when they begin Everything else before it will end. This is why we are seeing a sped up timeline where everything is getting exposed at once. You are about to come out of “The Great Pause” that you have been under for the past four years.

Donald Trump told you in his last speech that everything will happen fast. How? Because we couldn’t do anything until Iraq was ready. Now you are going to see countries across the world speed up their operations to remove all the corruption in their government and other areas.

Remember what Al-Sudani stated. Their new systems is anti money laundering. Now do you remember what I told you all about ISO-20022? Guess what that is? An anti money laundering system that banks are implementing across the planet. This will choke out all the dark money that funds all the false flags we have been subjected to.

This is why they always wanted to ensure that the Middle East always remained unstable so theu can continue to force the fiat USD on 3rd world countries because debts & human tra££icking. Once the reinstatement occurs you will see a lot of corruption come to a sudden halt.

There is more I can say but you get the point.

Source(s):
https://x.com/Prolotario1/status/1839395603953955278
https://x.com/Prolotario1/status/1839486627078418502

https://dinarchronicles.com/2024/09/26/ariel-prolotario1-everything-starts-with-iraq/

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Gold Telegraph: Gold is at Record Highs in Most Fiat Currencies

Thursday, 26 September 2024,

China is preparing to inject $142 billion of capital into the country’s top banks.

This would be the first intervention since the 2008 financial crisis.

This is massive news.

Gold is at record highs in most fiat currencies worldwide for a reason.

Global debt crisis.

The entire world is now watching gold.

History repeats.

BREAKING NEWS:   ANOTHER NEW RECORD HIGH FOR GOLD IN US DOLLAR TERMS.

More history.

I said this over 3 years ago when everyone was claiming inflation was transitory, and I will repeat it:

You need to watch the price of commodities to understand the future of inflation.

Central banks around the world are watching these moves closely but likely feel trapped.

BREAKING NEWS

CHINA TO ISSUE $284 BILLION OF SOVEREIGN DEBT THIS YEAR TO HELP REVIVE ECONOMY

$284 billion.

This is going to get wild.

“The planned fiscal expansion is the latest attempt by Chinese policymakers to revive an economy grappling with deflationary pressures…”

Source: https://www.reuters.com/markets/asia/china-issue-284-bln-sovereign-debt-this-year-help-revive-economy-sources-say-2024-09-26/

https://dinarchronicles.com/2024/09/26/gold-telegraph-gold-is-at-record-highs-in-most-fiat-currencies/

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

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:
We see articles on the news, reporters saying the imminent change to our currency is coming.  Then he talked about deleting the zeros and the good that this would do and the bad.  Then said our dinar would be stronger than the Jordan dinar.

Mnt Goat  Article:  “IRAQ PLANS CURRENCY REDENOMINATION AMID ECONOMIC CHALLENGES“ ...this is just not another article about the Project to Delete the Zeros but much, much more...I believe this project is going to move forward this fall, and I am told not until after the US election.

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Putin Confirms BRICS Are Working On Independent Payment System

Arcadia Economics:  9-27-2024

Over the past few months we've reported how there was increasing confirmation that the BRICS are working on a proposal for a new independent payment system.

And this week, Russian President Vladimir Putin confirmed as much in a speech ahead of the BRICS meeting in Kazan in October.

To hear his comments, click to watch this short video now.

https://www.youtube.com/watch?v=WeeUG4ofIqo

Seeds of Wisdom RV and Economic Updates Friday Evening 9-27-24

Good Evening Dinar Recaps,

GENSLER SUGGESTS BNY MELLON’S CRYPTO CUSTODY MODEL COULD EXPAND BEYOND BITCOIN AND ETHER ETFS

BNY Mellon explores extending regulated crypto custody beyond ETFs.

▪️Gensler suggests BNY Mellon's crypto custody model could apply to various digital assets.

▪️The crypto custody market is growing rapidly, with banks poised to benefit from secure, regulated services.

In comments to Bloomberg today, SEC Chair Gary Gensler discussed BNY Mellon’s crypto custody structure. He suggested that the model used for Bitcoin and Ether ETFs could be applied to other digital assets.

While the current approval applies only to Bitcoin and Ether ETFs, Gensler noted that the custody structure is not limited to specific crypto assets.

“Though the actual consultation related to two crypto assets, the structure itself was not dependent on what the crypto was, it didn’t matter what the crypto was.” said Gensler.  

BNY Mellon now has the flexibility to extend its custody services to other digital assets if it chooses. Gensler emphasized that the “non-objection” is based on the structure itself, not the type of crypto asset, allowing other banks to adopt the same model for crypto custody.

The approval hinges on BNY’s use of individual crypto wallets, ensuring that customer assets are protected and segregated from the bank’s own assets in the event of insolvency. This wallet structure was developed in consultation with the SEC’s Office of Chief Accountant, leading to the agency’s “non-objection” decision.

This approval guarantees that the bank’s approach complies with regulatory requirements, preventing customer assets from being at risk during bankruptcy, a key issue that has plagued crypto platforms like Celsius, FTX, and Voyager.

The crypto custody market, estimated to be worth $300 million and growing by 30% annually, represents a lucrative opportunity for financial institutions.

With non-bank providers typically charging much higher fees for digital asset custody compared to traditional assets, banks like BNY Mellon are well-positioned to capitalize on this growing demand by offering more secure and regulated solutions.

@ Newshounds News™

Source:  CryptoBriefing

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@ Newshounds News™

Live Call: https://t.me/+CpYhls2JLGc5YWRh

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BIG Silver Price and coin news

The Economic Ninja

(9/26/2024)

1. 🚀 Silver surged to a 12-year high in 2022, gaining 37% since January 2023, driven by expectations of Fed rate cuts and increased demand in renewable energy, electronics, and electric vehicles.

2. 💡 The global renewable energy market is projected to grow from $1.14 trillion in 2023 to $5.62 trillion by 2025, with a 17.3% annual growth rate, boosting silver's industrial applications.

3. 🔬 Silver has more patents tied to it than any other metal, used in everyday items like water filters, cell phones, and solar panels, with companies indifferent to price fluctuations due to the small amounts needed in production.

4. 📈 The Federal Reserve's pivot towards easier monetary policy, potential future rate cuts, and China's economic boost efforts have supported silver's price gains.

5. 💼 Silver is considered a tangible, real investment that can be vaulted, contrasting with the stock market's perceived "vaporware" nature, with recommendations to invest in the cheapest possible silver coins.

@ Newshounds News™

Source: The Economic Ninja  

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

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Economist’s “News and Views” Friday 9-27-2024

Currencies BLOWING UP - Expect $3000/oz Gold Soon | Tony Greer

Liberty and Finance:  9-26-2024

Tony Greer discussed the current state of the gold and silver markets, emphasizing gold's strong performance amid ongoing fiat currency instability.

He pointed out that Western central banks' relentless currency creation is driving investors toward gold as a safe haven, predicting it could reach $3,000 per ounce by mid-2025.

Greer also expressed a cautious optimism about the stock market, noting that recent economic volatility has led to a potential resurgence in tech stocks and cyclicals, suggesting the S&P 500 could rally significantly.

He contrasted the investment behaviors in gold and silver, advocating for a focus on gold due to its stability and historical value as a hedge against inflation.

INTERVIEW TIMELINE:

0:00 Intro

1:15 Gold market

4:28 S&P 500 update

11:06 Recession

13:20 Stock market valuation

15:45 Silver vs gold

21:14 Commodities outlook

https://www.youtube.com/watch?v=0fMSEKTDUBs

CHINA Sell Off 39% of US Treasury: What's Next?

Fastepo:  9-26-2024

The U.S. government continues to regard Treasury securities as stable and secure investment options, especially during economic uncertainties.

Despite this, there are growing concerns about the national debt, which has escalated to over $35 trillion as of mid-2024. This figure has doubled in the last 15 years, highlighting a trend of increasing government expenditure and debt accumulation.

The U.S. government's rising debt poses several long-term economic risks, notably due to the increasing cost of servicing this debt amidst rising interest rates. These higher rates make debt servicing more expensive, potentially leading to inflation and increased borrowing costs, which could crowd out private investment and necessitate higher taxes or reduced government spending.

 Compounding these concerns is the U.S.'s reliance on foreign investment to fund its national debt.

Notably, China, which was once the largest foreign holder of U.S. debt, has reduced its holdings significantly, from a peak of $1.316 trillion in 2013 to about $749 billion by mid-2024.

This reduction is part of a broader trend of decreasing foreign ownership of U.S. debt, driven by geopolitical shifts and policy changes both in the U.S. and abroad.

Such a reduction in foreign investment could force the U.S. to offer higher interest rates to attract new investors, thereby increasing borrowing costs further.

https://www.youtube.com/watch?v=CJJZ8jM4EPw

This is How The Fed Just Ruined Your Life - George Gammon Goes Off

Daniela Carbone:  9-25-2024

In this insightful interview, George Gammon discusses the Federal Reserve's recent moves and the narrative they want us to believe. Are we heading for a hard landing, or can the Fed really control the economy?

 George argues that despite the Fed's attempts to orchestrate a "soft landing," history shows that they often lag behind the curve.

Daniela Cambone dives deeper with George on the Fed’s decision-making, the realities of the labor market, and the significance of the inverted yield curve.

Tune in as they break down complex economic indicators and what they mean for the future of the economy.

CHAPTERS:

0:00 Fed’s Huge Mistake

4:30 More Rate Cuts Needed

 8:30 Economic Downturn

13:00 Powell & Elections

18:00 Recession

24:00 Gold Safe Haven

33:00 Future Outlook

https://www.youtube.com/watch?v=WC9SZb2-M-g

Seeds of Wisdom RV and Economic Updates Friday Morning 9-27-24

Good morning Dinar Recaps,

Ripple President Shares Bold Plans for RLUSD and Ethereum

Along with XRP’s function in smaller transactions, Ripple’s RLUSD aims to improve international transactions backed by dollars.

Ripple introduces Ethereum-compatible sidechains to XRPL, combining Ethereum’s programmability with XRP Ledger’s scalability and low costs.

Ripple has announced plans for its new stablecoin, Ripple USD (RLUSD), which will initially be available in countries or territories outside of the United States where Ripple has already obtained a license. Ripple President Monica Long made the statement during a recent interview with a Japanese media outlet.

She stated that after this initial launch, Ripple will look at entering more markets, with Japan being one of the possible targets due to its high adoption prospects for RLUSD.

Ripple’s Legal Victory Sets the Stage for RLUSD Global Expansion
Before establishing RLUSD, Ripple won a substantial legal struggle with the United States Securities and Exchange Commission (SEC), with the court ruling that XRP is not a security. This decision brought legal clarity to the cryptocurrency market, allowing Ripple to expand its services.

Monica Long hailed this triumph as a turning point moment for Ripple, allowing it to strengthen its footprint in the US market, despite the fact that the majority of its growth continues to come from outside the US, particularly in the Asia-Pacific area.

One of Ripple’s primary objectives is to include RLUSD as part of an effective cross-border settlement solution. A trustworthy and open stablecoin will result from the full backing of RLUSD by US dollars and their equivalents in other currencies.

Within the Ripple ecosystem, RLUSD is expected to play an important role in increasing transaction liquidity and efficiency. Monica Long stated:

“RLUSD is not intended to replace XRP, but to supplement it. While XRP will continue to be used for lower market-cap assets, RLUSD will be an effective vehicle for larger transactions.”

Ripple has lofty intentions to add Ethereum interoperability to the XRP Ledger. This means that Ethereum developers will be able to use XRP as a gas token on sidechains that are compatible with the Ethereum Virtual Machine (EVM).

This interface provides developers with additional chances to implement financial solutions and decentralized applications (DeFi) on the XRPL, using XRP’s scalability and efficiency.

Japan stands out as one of Ripple’s most potential markets, given to its long-standing cooperation with the SBI Group. As we previously reporeted, Ripple and SBI have worked together on a number of projects, including the creation of a digital NFT wallet for Expo 2025 in Osaka, which highlights Ripple’s potential acceptance in Japan’s corporate sector.

Furthermore, SBI Remit, a part of the SBI Group, has been providing international remittance services since 2017, using XRP as a bridge currency to enable quick and cost-efficient transactions.

@ Newshounds News™

Source:  Crypto News Flash

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Republicans introduce bill forcing Gary Gensler to testify biannually

Senate Republicans have introduced legislation that would require the SEC chair, currently Gary Gensler, to testify before Congress twice a year.

This move comes amid mounting criticism of SEC Chair Gary Gensler’s leadership and the agency’s approach to regulating the digital asset sector.

As reported by Fox Business, the proposed bill, the “Empowering Main Street in America Act,” would extend provisions from the Dodd-Frank Act to include a mandate for the SEC chair’s biannual appearance.

This follows a postponed hearing originally scheduled for Gensler before the Senate Banking Committee.

The day before, the House Financial Services Committee scrutinized Gensler, with members of both parties questioning his approach to crypto regulation and the broader financial market.

Senate Banking Committee Ranking Member Tim Scott, a key advocate for the bill, criticized the postponement, viewing it as indicative of a lack of accountability under Gensler’s leadership, per Fox Business.

Scott and nine other Senate Republicans argued that more frequent testimony is essential to ensure the SEC maintains its mission of protecting investors, facilitating capital formation, and promoting fair and orderly markets.

Gensler vs. Crypto
Biden-appointed Gensler has vocally expressed skepticism toward crypto regulation. He came out forcefully against the FIT21 bill after it was passed in the House.

The crypto industry mostly views Gensler with skepticism and frustration. Many believe his strict enforcement approach and classifying most crypto assets as securities have stifled innovation and created legal uncertainty.

Gensler’s tenure has faced bipartisan pushback, particularly regarding the SEC’s handling of digital assets.

Critics argue that the agency’s aggressive enforcement actions have caused uncertainty in the crypto market. These concerns were recently highlighted during a congressional hearing in which all five SEC commissioners, including Gensler, were pressed on their stance on cryptocurrency oversight.

Senate Republicans are aiming for greater accountability and transparency in the SEC’s regulatory decisions with the Empowering Main Street in America Act. They want to ensure the SEC remains transparent as the financial landscape continues to evolve.

On Sept. 24, The SEC charged TrueCoin and TrustToken with securities violations over unregistered offerings of TUSD and TrueFi, resulting in a settlement with fines totaling over $500,000. The case adds to the SEC’s growing enforcement actions against crypto firms, with industry fines surpassing $7 billion since 2013.

@ Newshounds News™

Source:  Crypto News

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DEBUNKING MYTHS: OPINIONS VS. FACTS | Youtube

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Source:  Seeds of Wisdom Team Currency Facts

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News, Rumors and Opinions Friday AM 9-27-2024

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

RV Excerpts from the Restored Republic via a GCR: Update as of Fri. 27 Sept. 2024

Compiled Fri. 27 Sept. 2024 12:01 am EST by Judy Byington

Timing: Tues. 1 Oct. 2024  (Rumors/Opinions)

On Tues. 1 Oct. 2024 U****c. (United?)Corp. dissolves, ending the fiat monetary system. The privately owned U****c. Government, Federal Reserve and IRS will shut down. U****c. fiscal year ends. It’s been bankrupt since 2008 and without Congressional budget approvals – running on fumes with a fiat US Dollar.

On Tues. 1 Oct. 2024 All banks worldwide not Basel III Compliant (have gold backing to their monies) will be closed. The Basel III regulations could alter the real estate market in unprecedented ways.

On Tues. 1 Oct. 2024 the Quantum Financial System Global Currency Reset goes into effect with 134 Sovereign nation gold/asset-backed currencies trading at a 1:1 with each other. The QFS completely replaces the outdated and corruptt central banking model. Forget about inflation, interest rates or manipulated stock markets—the QFS will make all of that obsolete. The endless printing of fiat money by corruptt central banks will be a thing of the past.

On Tues. 1 Oct. 2024 NESARA GESARA begins as countries worldwide activate the gold/asset-backed Quantum Financial System and Global Currency Reset. The BRICS nations will head the greatest wealth transfer in history. 134 nations are ditching the fiat US dollar and moving to gold-backed currencies. Each of these currencies will trade at a 1:1 ratio.

On Tues. 1 Oct. 2024 LIBOR is slated to be replaced by SOFR, marking a significant change in financial benchmarks.

On Tues. 1 Oct. 2024 the new United States of America Republic will start its new fiscal year under a gold-backed US Note as part of the Global Currency Reset.

The QFS isn’t just a financial system. It’s part of a broader plan to take full control of global communication, energy grids, and data. The military, working with top-secret intelligence agencies, has developed this system to prevent any future manipulation by global elites.

On Tues. 1 Oct. 2024 45,000 ILA workers at major ports will go on strike as unions push for a 77% wage increase. Half of US goods go through those ports. For each day of the strike, it will take one week to recover, severely disrupting the supply chain. Stock up on goods.

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Global Currency Reset:

Thurs. 26 Sept. 2024 Bruce:

There are no longer going to be Tier 5 banks, or small banks. They will be absorbed by Tier 3 or Tier 4 banks.

Tier 1,2,3 banks have been connected to the new system. Tier 4 will be completed by this Sat. 28 Sept.

Redemption Center Staff will be on call this weekend.

Iraq will have their new lower denomination currency

Bond Holders will have access to their accounts by Tues. 1 Oct.

Tier4b (us, the Internet Group) will receive 800 number email notifications on Mon. 30 Sept. They should appear in a three hour period.

The Call Center will route you to the Redemption Center where you will exchange.

Exchange Appointments will be set starting on Tues. 1 Oct. onward.

R&R allowances are already deposited in your Quantum Account. You move that money to your bank with your Quantum Card you will receive at your appointment.

Both banks and Redemption Centers have on their screens the 14 currencies that will increase in value.

As of this weekend all 197 new currency rates of the 209 countries in the World will be on the screens.

You will have access to some of your monies at your exchange.

Active Military on Military Bases will exchange Dinar and Afghani over the weekend. They have already received notification they will do that.

The highest rates are on the Redemption Center screens. You will exchange there and not at a bank.

The Iraqi Dinar rate is tied to the oil barrel rate.

People in hospitals or who have a medical problem will have up to 40 days to exchange at a Redemption Center.

Read full post here:  https://dinarchronicles.com/2024/09/27/restored-republic-via-a-gcr-update-as-of-september-27-2024/

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

Jeff  September is the month where you have seen and heard more from the Central Bank ever throughout this entire year... They have been more vocal and have completed more steps in the month of September than any other month...Critical things are happening.  They're preparing to go international.    Their budget period would start October 1st...that's why the news has increased significantly as we're approaching October.

Frank26   Article:  "The government forms a higher committee to adapt Iraq banks to International financial requirements"   What does that mean?  It means the Iraq dinar is going to float internationally in international markets.  But it's at a program rate?  No it's not.  But it has sanctions on the country?  No it doesn't.  Wells Fargo says it's on the OFAC list,
that it's on the 'bad currency' list?  No it's not...That going international requires a new exchange rate.  Yes it does.

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The US Debt Crisis Is Far Worse Than You Think

George Gammon:  9-27-2024

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

One Day Only ETFS: Wall Street's New Gambling Scheme

Lynette Zang:  9-27-2024

Today's video touches on the trading volatility of even some of the most "secure" investments ever created, and how they are being turned into something even the creator feared...

https://www.youtube.com/watch?v=-8rfxe2EPsw

“Tidbits From TNT” Friday Morning 9-27-2024

TNT:

Tishwash:  Prime Minister leaves New York for Baghdad

Prime Minister Mohammed Shia Al-Sudani left New York heading to Baghdad.

The Prime Minister's Media Office stated in a statement received by the Iraqi News Agency (INA), that "Prime Minister Mohammed Shia al-Sudani left New York heading to the capital, Baghdad, after concluding his participation in the meetings of the 79th session of the United Nations General Assembly."  link

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Tishwash: Iraq discusses cooperation with SpaceX to provide internet services

Today, Thursday, the Chairman of the Communications and Media Commission, Ali Al-Moayyad, discussed with the Senior Director of Global Licensing and Market Activation at SpaceX, Ryan Goodnight, prospects for cooperation to provide Internet services in Iraq.

The Commission stated in a statement that "Chairman of the Communications and Media Commission, Ali Al-Moayyad, met with the Senior Director of Global Licensing and Market Activation at SpaceX, Ryan Goodnight, on the sidelines of Iraq's participation in the Future Summit held in New York," noting that "the meeting discussed the available means to spread Starlink services in the region, and the high-speed internet services it provides."

She added, "The two sides discussed how to benefit from these modern technologies and their licensing mechanisms to meet the needs of users, whether individuals or institutions."

She added, "SpaceX representatives provided a detailed explanation of the services provided by the company, the areas it covers, and the speeds that can be provided to operators."  link

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Tishwash:  US State Department: Announcement of agreement on the future of the international coalition from Iraq within two weeks

 The US State Department expected to announce the agreement on the future of the international coalition from Iraq within two weeks.

"We expect that in the coming days, within a week or two, I don't want to specify a specific date, but in the coming days and weeks, we will hear more about the position, and I don't mean the American position, but the joint position, because the partnership between the United States and Iraq is the most important

And when we say there is an agreement or a deal; there was a deal or there was an agreement years ago regarding the presence of the American army and the international coalition in Iraq, this was at the invitation of the Iraqi government and secondly to combat terrorism only, and therefore we must see in this context of the agreement that was in the past years, how we will change if the circumstances change

As we must change or at least we must renew this defense and security relationship with Iraq," said the US State Department's regional spokesman, Samuel Werberg, in a press statement.

 "So far, there is no official announcement or statement for me to share, but as I said weeks ago, we knew that since the announcement by Secretary of Defense Austin, we saw that the US government and the Iraqi government were intervening in these discussions to set the appropriate conditions for the continuation of this coordination between the two countries, so we expect that in the coming days and maybe within a week or two we will hear more." link

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Tishwash:  Al-Samarrai praises Al-Sudani’s speech before the United Nations: It is worthy of Iraq, its history and its international standing

Today, Friday (September 27, 2024), the head of the Azm Alliance, MP Muthanna Al-Samarrai, praised the speech of Prime Minister Muhammad Shia Al-Sudani before the United Nations General Assembly, indicating that it is befitting of Iraq, its history and its international status.

Al-Samarrai said in a post on the (X) platform, which was followed by "Baghdad Today", "We followed the speech of Prime Minister Mohammed Shia al-Sudani before the seventy-ninth session of the United Nations General Assembly, and it was a speech that befits Iraq, its history and international standing, and clearly expresses its orientations and reflects the will of its people and its national, Arab, Islamic and humanitarian principles."

Al-Sudani stressed in his speech that stopping the violations taking place in Palestine and the region is everyone’s responsibility. While he pointed to the Security Council’s failure to maintain international peace and security, he stressed Iraq’s support for Lebanon and its continued provision of assistance to overcome the effects of these attacks.  link

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Tishwash:  Prime Minister: Iraq is witnessing an urban and economic renaissance and revitalization of the industrial and agricultural sectors

Prime Minister Mohammed Shia al-Sudani received an official invitation to visit Islamabad on Thursday from his Pakistani counterpart, Shehbaz Sharif.

The Prime Minister's Media Office said in a statement, seen by "Al-Eqtisad News", that "Prime Minister Mohammed Shia Al-Sudani met - this evening, Thursday (Baghdad time) in New York - with Pakistani Prime Minister Shehbaz Sharif, on the sidelines of his participation in the 79th session of the United Nations General Assembly."

He added that "the meeting witnessed discussions on the overall bilateral relations and ways to develop them in various fields, in addition to discussing the latest developments in the aggression in Gaza and Lebanon and the efforts made to stop the war of genocide against the Palestinians and protect brotherly Lebanon and its secure people."

Al-Sudani explained to his Pakistani counterpart - according to the statement - "Iraq's desire to deepen the relationship with Pakistan in various fields, and that the government is following an open policy on all steps of economic partnership, just as Iraq is witnessing an urban and economic renaissance and the revitalization of industrial and agricultural fields, in addition to the deep desire to open the doors of constructive partnerships with brotherly and friendly countries."

He touched on "the pivotal efforts undertaken by Iraq to prevent the escalation of the situation in the region and stop the aggression, including the initiative to call for an Islamic summit that unites the ranks of Islamic countries, especially Pakistan, in order to prevent the situation from sliding into a comprehensive war and protect the steadfast Lebanese and Palestinian peoples."
For his part, Shehbaz Sharif extended an invitation to Al-Sudani to "visit Islamabad in order to establish more foundations for cooperation and partnership between the two countries and expand trade exchange agreements."

He expressed his "support for the Iraqi initiative calling for an Islamic summit to consider the current aggression on Lebanon and Palestine, and formulate a unified position regarding the ongoing massacre of the Palestinian people and the attempts to expand the war by the occupation government  link

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Mot: 3 of those.. nooo -- 5 of those --- nooooo 4 of 

Mot:  .... Always looking for a Good Hotel - Huh!!! 

Seeds of Wisdom RV and Economic Updates Thursday Evening 9-26-24

Good Evening Dinar Recaps,

IRAQ BOOSTS GOLD RESERVES TO OVER 145 TONS

Data from the World Gold Council reveals that Iraq purchased a total of 51.9 tons of gold between 2022 and September of this year.

ERBIL (Kurdistan24) - Iraq has significantly increased its gold reserves over the past three years, acquiring approximately 52 tons of the precious metal. The majority of these purchases occurred in 2022, accounting for 65% of the total acquired gold.

Data from the World Gold Council reveals that Iraq purchased a total of 51.9 tons of gold between 2022 and September of this year.

The breakdown shows a significant purchase of 33.9 tons in 2022, followed by 12.3 tons in 2023, and 5.7 tons so far this year. Notably, there were substantial purchases of 3.1 tons in February and 2.6 tons in May of this year.

This strategic accumulation of gold aligns with a global trend among central banks seeking to diversify their reserves and hedge against economic uncertainties.

Gold Prices in Iraq Soar

The increased demand for gold has also driven up its price in Iraq across all carats. Currently, one gram of gold is priced as follows:

- 24 carat gold: 108.652 dinars (equivalent to 83 US dollars – based on the official exchange rate by the Iraqi government.)

- 22 carat gold: 99.598 dinars (equivalent to 76 US dollars – based on the official exchange rate by the Iraqi government.)

- 21 carat gold: 95.071 dinars (equivalent to 72 US dollars – based on the official exchange rate by the Iraqi government.)

- 18 carat gold: 81.489 dinars (equivalent to 62 US dollars – based on the official exchange rate by the Iraqi government.)

Iraq's Global Ranking

According to the World Gold Council's latest data for June, Iraq's gold reserves have now reached 145.7 tons, a notable increase from 142.6 tons in May.

This increase has solidified Iraq's position as a significant holder of gold reserves globally. While the country has dropped one place to 31st in the World Gold Council's ranking of the 100 countries with the largest gold reserves, its holdings represent a substantial 9.8% of its total reserves.

The United States, Germany, and Italy continue to hold the top three positions in terms of gold reserves, while Suriname ranks at the bottom of the list.

@ Newshounds News™

Source:  Kurdistan24

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US SANCTIONS RUSSIAN CRYPTO PLATFORMS FOR MONEY LAUNDERING TIES

Two crypto exchanges and two individuals have been sanctioned for ties to underground finance.

The United States government has taken action against two Russians and two cryptocurrency exchanges tied to alleged illicit Russian finance. The departments of the Treasury, Justice and State were involved, along with an assortment of overseas law enforcement agencies.

The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) identified PM2BTC, a Russian cryptocurrency exchange, and Sergey Ivanov, who is associated with that exchange, as being of “primary money laundering concern.” At the same time, Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned Ivanov and another crypto exchange, Cryptex.

Crypto exchanges to the underworld
PM2BTC is alleged to process the proceeds of ransomware attacks and other illicit activities. Half of its activities are linked to illegal operations, according to FinCen.

According to Chainalysis, PM2BTC shares wallet infrastructure with UAPS (Universal Anonymous Payment System), an underground payment processing system.

Cryptex is registered in St. Vincent and the Grenadines but advertises in Russian. According to the Treasury:

“Cryptex is also associated with over $720 million in transactions to services frequently used by Russia-based ransomware actors and cybercriminals, including fraud shops, mixing services, exchanges lacking KYC programs, and OFAC-designated virtual currency exchange Garantex.”

The Treasury Department acknowledged the US Secret Service Cyber Investigative Section, the Netherlands Police and the Dutch Fiscal Intelligence and Investigation Service for seizing web domains and infrastructure associated with PM2BTC, Cryptex and Ivanov. Chainalysis said that it and Tether also contributed to the effort.

Links to “carding”
In documents unsealed in the District Court of Eastern Virginia, Ivanov was charged with one count of conspiracy to commit and aid and abet bank fraud in connection with websites that engage in “carding,” or trading in stolen credit card information.

Timur Shakhmametov was charged with one count of conspiracy to commit and aid and abet bank fraud, one count of conspiracy to commit access device fraud, and one count of conspiracy to commit money laundering in connection with the same operations.

The State Department is offering a reward of up to $10 million for information leading to the arrest and/or conviction of Ivanov or Shakhmametov.

@ Newshounds News™

Source:  CoinTelegraph

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BRICS NEWS: 40% GOLD AND 60% LOCAL—IS THERE ROOM FOR BITCOIN, XRP, AND OTHER CRYPTOS?

 ▪️The BRICS currency, which is reported to be in development, is said to be backed by 40% gold and 60% local currencies.

 ▪️The currency is disclosed to be apolitical and would be outside the “circumference” of the SWIFT payment network.

The much anticipated BRICS currency, which would be the principal driving force at the heart of the de-dollarization strategy, could be on the table at the upcoming summit in October.

According to experts, this kind of development could largely erode a significant portion of the US dollar dominance as several other developing countries show their willingness to join the alliance.

Even before that, details of the expected BRICS currency have started leaking as reports establish that the potential currency could be based on a “basket” of 40% gold reserves and 60% BRICS sovereign nation currencies.

According to the details, the regional currencies that could be involved are the Chinese yuan, Russian ruble, and Indian rupee. Interestingly, this report aligns with the alleged outcome of a recent meeting between Russian President Vladimir Putin and the Head of the BRICS New Development Bank (NDB).

In our review of a publication by a Russian news platform, it was discovered that shareholders directed the NDB to prioritize the new digital currency to facilitate trade and avoid Russian sanctions.

Some Exclusive Details Around the BRICS Currency
According to the report, Russia is facing limitations as its trade volume among certain members remains one-sided. A typical example is Russia’s possession of excessive rupees received in exchange for energy, such as oil and gas, with India.

In this case, backing the BRICS currency with gold and local currency could provide enough stability and take care of the exchange rate fluctuations. Conversely to the US dollar, the BRICS currency would be apolitical and transactional and operate externally from the SWIFT payment network.

According to reports, the West can only distract this arrangement by sanctioning currencies such as the Chinese RMB and the Indian Rupee. Unfortunately, this could negatively impact the Western economy as the trade between these two countries and the US and EU amounted to around $1.56 trillion last year.

According to experts, an attempt to impose sanctions could cause serious inflation and recession in the West. Meanwhile, the NDB shareholders include Brazil, India, China, and South Africa, and Bangladesh, Egypt, the UAE, and Uruguay have joined them. More than 30 other countries have expressed interest in joining the alliance.

Amid the ongoing developments, enthusiasts have highly recommended Bitcoin, XRP, and other cryptos for consideration for their democratic qualities. Already, countries like El Salvador have declared Bitcoin a legal tender and the process could be keenly studied by the BRICS nations. However, no official announcement on this possibility has ever been made.

Commenting on the impact of these developments, the founder and CEO of Zang Enterprises, Lynette Zang, recently disclosed in a CNF report that the US Dollar’s dominance has reduced to 3% and could dwindle to zero in 2025.

I believe with all my heart and everything that I know that we’ve already begun the transition to hyperinflation. We’re going to see more borrowing, more money printing, and more inflation because they have not killed that beast that they created and continue to create. It’ll become very obvious in 2025.

@ Newshounds News™

Source:  Crypto News Flash  

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SEC CHAIR GENSLER PLUGS CHANGES TO EXCHANGE DEFINITION THAT WORRIES CRYPTO

Gary Gensler reminded a conference on Treasury bonds about a proposed rule change that would impact DeFi, too.

The United States Securities and Exchange Commission will continue to pursue changes to the definition of “exchange” and alternative trading systems, Chair Gary Gensler told attendees of the US Treasury Market Conference on Sept. 26.

Gensler was speaking about issues that affect the efficiency and resilience of the US Treasury bond market, but that proposal has been heavily criticized in the digital asset space.

Defining dealers to include more market players
One of the measures the SEC has taken to buttress the Treasury market was a change to the definition of a “dealer” that was meant to clarify the role of market participants such as principal-trading firms, which might use algorithmic and high-frequency trading strategies.

The changes, proposed in 2022, were criticized at the time by pro-crypto politicians for the spillover effect they would have on digital asset trading. Nonetheless, they were adopted in February.

What makes an alternative trader?
The worst may be yet to come, however. Another issue for Treasury bonds that also touched digital assets is the definition of “exchange” and alternative trading systems. A proposal dating to 2022 would extend registration requirements for platforms that served as market makers for government securities.

The wording of that proposal implied other kinds of exchange platforms would be subject to the new rules as well, and potentially raised issues of constitutionality.

When the proposal was revived a year later, a section was added to apply specifically to decentralized finance (DeFi). “This update would close a regulatory gap among platforms,” Gensler said. The changes have not been finalized yet.

Notably, Prometheum and tZero are registered alternative trading systems. They are also the first and so far only firms to receive special purpose broker-dealer status for digital asset securities, which allows them to provide custody of digital asset securities on behalf of retail and institutional clients.

Gensler did not mention cryptocurrency or DeFi in his presentation. He stopped by CNBC the same day to talk about crypto regulation and claimed that the crypto industry is adequately regulated by existing laws.

@ Newshounds News™

Source:  CoinTelegraph

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 BILLIONAIRES FLOCKING TO DUBAI WHY? #DUBAI  #BILLIONAIRE | Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team Currency Facts

~~~~~~~~~

Seeds of Wisdom Team Currency Facts Youtube and Rumble

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Thank you Dinar Recaps

Recession Signals Are FLASHING Red, It's Much Worse Than You Think

Recession Signals Are FLASHING Red, It's Much Worse Than You Think

Atlantis Report:  9-26-2024

The US economy has been struggling for some time, and the situation has worsened with the onset of a recession. The recession is here, and it's not looking pretty. Despite the optimism and reassurances from various sources, the reality is that the recession is expected to have a severe impact.

Today, we will examine the factors that have contributed to this economic downturn, the potential consequences, and the measures that can be taken to endure the difficult times ahead. The silent depression - when we talk about the economy, we often hear about two types of data: hard and soft.

Hard data includes tangible numbers like GDP growth, employment figures, and industrial production. Soft data, on the other hand, captures sentiments and perceptions, like consumer confidence and business optimism.

The soft data about the US economy today is not painting a great picture. Sentiment indicators are tanking, and they're closely mirroring the trends we see in hard data. There is a decline in business activity, a decrease in new orders, and a reduction in backlogs - all pointing towards an unhealthy economy.

While the term "recession" typically conjures up images of mass layoffs, shuttered businesses, and widespread economic hardship, the current downturn is taking on a more disturbing form – one that could be described as a "recession light.

" Rather than a sharp, dramatic contraction, we are witnessing a slow, steady erosion of economic vitality, marked by stagnating growth, persistent inflation, and a general unease that pervades every aspect of our financial lives.

As businesses struggle with decreasing demand, increasing costs, and tighter credit conditions, households are finding it challenging to manage their expenses due to rising prices and stagnant wages. But labor hoarding isn't the only piece of the puzzle.

There's something deeper at play here, something experts call the "silent depression." It's the underlying sense of unease that permeates the labor market, even in the absence of mass layoffs. It's the feeling that something isn't quite right, that the economy is in danger.

To understand this silent depression, we need to take a trip down memory lane. Before the 2008 financial crisis, businesses operated on a different rhythm. During economic recoveries, companies eagerly hired new workers, confident in the prospects of a booming economy. Nowadays, that optimism seems to be in short supply. Instead of a hiring spree, businesses are holding back and are reluctant to commit to long-term investments.

 They're wary of the uncertain economic situation, unsure if the recovery will be as robust as they hope. And so, they're playing it safe, keeping their workforce lean and their expenses in check. The current recession is the result of a buildup of global events and economic imbalances over time. Though no single factor can be solely held responsible, the mixture of these forces has created an ideal situation that has proven to be too much for even the strongest economies to handle.

 2020 disrupted global supply chains, shattered businesses, and altered consumer behavior in unprecedented ways. While the initial shock waves have subsided, the ripple effects continue reverberating through the global economy, worsening existing vulnerabilities and exposing structural weaknesses.

To combat the soaring inflation rates brought about by disruptions and geopolitical tensions, central banks worldwide have embarked on an aggressive path of interest rate hikes. While aimed at curbing runaway prices, these tightening monetary policies have also constricted access to credit and dampened consumer and business spending, further compounding economic woes.

Years of accommodative monetary policies and stimulus measures have left many economies saddled with mounting debt burdens, both at the governmental and private sector levels. As interest rates rise and economic conditions deteriorate, the ability to service these debts becomes increasingly strained, potentially setting the stage for a cascade of defaults and financial instability.

While recessions have far-reaching consequences, certain sectors and industries are particularly vulnerable to the current economic downturn. As households tighten their belts in response to rising costs of living and economic uncertainty, consumer spending – a vital driver of economic growth – has taken a significant hit. Retailers, particularly those in discretionary sectors like apparel and luxury goods, are feeling the brunt of this slump as consumers prioritize essential purchases.

The energy and commodities sectors are particularly vulnerable to fluctuations in global demand and geopolitical instability. As economic activity contracts, the demand for resources like oil, gas, and metals wanes, putting pressure on prices and profitability in these industries.

https://www.youtube.com/watch?v=x415sUMvNjk

More News, Rumors and Opinions Thursday PM 9-26-2024

From RV Excerpts from the Restored Republic via a GCR: Update as of Thurs. 26 Sept. 2024
Global Financial Crisis:

Tues. 24 Sept. 2024 BREAKING! Walmart Canada No Longer Accepts U.S. Dollars – A Harbinger of the U.S. Dollar’s Total Collapse

This is not a drill! Steve Quayle has just uncovered shocking evidence that Walmart Canada has stopped accepting U.S. dollars, signaling the imminent collapse of the U.S. currency. If you haven’t been paying attention, now’s the time to wake up—this is happening. Walmart, a U.S.-based corporation, is rejecting its own country’s currency in Canada, one of the U.S.’s closest economic partners. What does that say about the future of the U.S. dollar?

Steve Quayle was on the frontlines, personally witnessing this stunning move at a Walmart in Newmarket, Ontario. Every single cashier was rejecting U.S. currency—it wasn’t a glitch, it wasn’t a mistake. It’s real. The cashiers revealed that the entire system had been reprogrammed to refuse U.S. dollars. Let that sink in. A U.S. corporation just turned its back on the dollar, and it’s not because of a temporary issue. They know something we don’t.

This is the beginning of the end for the U.S. dollar. Walmart’s decision shows that the collapse is closer than anyone thinks. Other companies, countries, and financial institutions will follow suit. It’s happening right now, and if you don’t prepare, you’ll be left with nothing. Walmart has made its move to protect itself from the coming storm. If they’re abandoning the U.S. dollar, how long will it be before everyone else does?

Think about it: Canada and the U.S. are tightly linked economically. If Walmart is pulling the plug on U.S. cash in Canada, what does that say about the rest of the world? It says everything you need to know. The U.S. dollar is in deep trouble. If you’re holding U.S. dollars, you need to prepare NOW before it’s too late.

This isn’t some wild theory—it’s happening before our eyes. If Walmart is rejecting U.S. currency, you can bet the rest of the world is watching.

The U.S. dollar collapse is imminent. Prepare yourselves, protect your assets, and brace for the chaos that will follow. Hyperinflation, skyrocketing prices, and worthless savings—this is the future if you don’t act now.

Will you be ready? Time is running out. The collapse is coming, and once it happens, there will be no turning back.

https://dinarchronicles.com/2024/09/26/restored-republic-via-a-gcr-update-as-of-september-26-2024/

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Gold Telegraph: The Goal of BRICS is to Reform the Bretton Woods System

Wednesday, 25 September 2024, 22:36 PM

Gold Telegraph  @GoldTelegraph

A BRICS member country stated in June that the bloc’s most important goal is to reform the Bretton Woods system.

Fast forward three months:

The dollar continues to collapse against the value of gold.

Questions can be answered if you look hard enough.

Japan has experienced three decades of stagnation, and the Bank of Japan has helped turn the country into a giant financial welfare addict.

Now, it is dealing with a population crisis and inflation.

The country is the biggest foreign owner of US debt.

I said years ago this was a tragic comedy.

The movie is playing for all to see.

BREAKING NEWS

I****L TO CONSIDER LIMITING OWNERSHIP OF PRECIOUS METALS

What next?

“Part of the proposal suggests limiting private ownership of large amounts of cash alternatives such as gold, silver, and coins…”

Source: https://www.jpost.com/business-and-innovation/precious-metals/article-821530

V************n says a new system of relations is being created in which the countries of the Global South are taking leading roles.

In other words, a monetary reset.

Silver has skyrocketed over 40% in the past year in USD!

The people’s money has been exploding, but pure silver companies are almost impossible to find.

However, @Frank_Giustra has begun building a pure-play silver company for the upcoming cycle.

Follow: @argentasilverag.

Starting with nearly 50 million ounces of high-grade silver in Argentina, the company is laying the foundation for its future as a force in the silver industry.

BREAKING NEWS

CHINA IS CONSIDERING INJECTING UP TO $142 BILLION OF CAPITAL INTO ITS BIGGEST STATE BANKS

Wow.

Things are really heating up.

https://dinarchronicles.com/2024/09/25/gold-telegraph-the-goal-of-brics-is-to-reform-the-bretton-woods-system/

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

Frank26   [Iraq boots-on-the-ground report] FIREFLY:
TV shows USA Treasury personnel and they're saying to us that Iraq is very close to competing their money transfers to electronic to offset money laundering.  FRANK:  To see it coming from the US Treasury is good...You ain't close dude!  Horse shoes and grenades are close.  This is pinpoint laser accurate.  It is done!  It is being announced.

Mnt Goat   ...we have been told many times that the Project to Delete the Zeros is not just a common project to redenominate but for Iraq it is also a steppingstone as part of the process to the reinstatement. This is the reason why I am so captivated on what just happened these last few days...We witnessed another onslaught of articles about the Project to Delete the Zeros once again...the news media reports what is going on in Iraq so someone, something must have reignited the spark for the Project to Delete the Zeros...Yes, it was the CBI and when the CBI talks, I listen...the CBI sets monetary policy.  

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

VND, IQD, Forex and Pips Explained

Edu Matrix:  9-26-2024

VND IQD Forex and Pips Explained - What the value of the VND and the IQD Pips means for and to investors. Cost of Living in Iraq and Vietnam.

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

LIVE! THE WORST DEPRESSION OF ALL TIME IS NOT FAR OFF.

Mannarino:  9-26-2024

https://www.youtube.com/watch?v=wpr-e6yu31E

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 9-26-24

Good Afternoon Dinar Recaps,

 MOROCCO TURNS TO AI, BLOCKCHAIN TO ACHIEVE ‘DIGITAL HUB’ GOAL BY 2030

 The Digital Morocco 2030 was announced on Sept. 25 and launched with a $1.1 billion budget.

Morocco is betting on artificial intelligence (AI) and blockchain technologies to transform the country into a global digital hub as part of its ambitious Digital Morocco 2030 strategy.

The initiative was announced on Sept. 25 and launched with a $1.1 billion budget. It aims to integrate advanced technologies to boost public services, drive economic growth, and create 240,000 new jobs in the digital sector by 2030.

In addition to reforming government services, the strategy aims to support the development of new AI-driven startups and blockchain-based platforms, which will play a key role in Morocco’s goal of becoming a major player in the global digital economy.

AI and Blockchain

The strategy places AI and distributed ledger technology (DLT) at the core of public service digitization, streamlining government operations and improving transparency.

A key component, the Unified Administrative Services Portal, will utilize the blockchain to securely manage services such as healthcare, education, and social protection, while AI systems will enhance service delivery by analyzing and processing data in real-time.

Minister of Digital Transition Ghita Mezzour emphasized that the strategy seeks to boost the digital economy while fully embracing digital technologies, including AI and DLT.

The Moroccan government aims to improve its ranking in the United Nations Online Services Index, moving from 100th to 50th place globally.

The Digital Morocco 2030 strategy also targets an increase in digital export revenues to 40 billion dirhams ($4.15 billion) and an overall contribution of 100 billion dirhams ($10.36 billion) to the country’s gross domestic product.

Additionally, the government plans to enhance 5G coverage to 70% of the country’s territory and create 3,000 startups.

Attracting global tech

Morocco seeks to attract global tech companies specializing in AI and blockchain, inviting them to establish operations and contribute to the country’s growing tech ecosystem.

The Moroccan Agency for Digital Development (ADD) will support the digitalization of public administrations and standardize administrative procedures through a unified digital portal.

The Digital Morocco 2030 plan also focuses on fostering innovation within the country by supporting startups that are developing AI and blockchain-based platforms.

The government is creating a supportive legal framework to accelerate the growth of these startups and enable them to expand globally.

 By nurturing a dynamic tech ecosystem, Morocco hopes to generate hundreds of thousands of jobs while positioning itself as a competitive force in the AI and blockchain sectors on the international stage.

@ Newshounds News™

Source:  Crypto Slate

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NYDFS SUPPORTS FEDERAL CRYPTO REGULATIONS AND MAINTAINS STATE ROLE 

• NYDFS expresses support for federal crypto regulations while ensuring states retain their roles.

• Adrienne Harris emphasizes the importance of both federal and state involvement in regulation.

• Many companies relocate due to regulatory uncertainty, while some choose to remain in the U.S. 

The New York Department of Financial Services (NYDFS) has expressed no concerns regarding federal cryptocurrency regulations. However, the office also believes that each state will retain its current role in overseeing digital assets.

Balancing Federal and State Authorities

Adrienne Harris, the New York State Financial Services Superintendent, spoke at the Digital Asset Compliance and Market Integrity Summit held in Manhattan on Wednesday. During the event, she defended federal cryptocurrency legislation while addressing the role of the states.

In her address, Harris stated that her office is ready to work with federal authorities, but insisted that states must also play a role to be more effective. She noted that states can move faster in regulating digital assets, which counters the perception that state oversight undermines regulatory standards. Harris remarked:

“Passing bills and drafting regulations is indeed important, but it is still essential for states to have a role.”

Continuing to discuss the role of states in crypto regulation, the Superintendent highlighted that NYDFS possesses one of the strongest digital asset regulatory frameworks globally. Harris expressed optimism that federal cryptocurrency legislation will soon be made public and confirmed that NYDFS has been in discussions with the U.S. House of Representatives and Senate.

With a team of 60 full-time staff, NYDFS’s crypto division has become one of the largest regulatory bodies for cryptocurrency in the world.

Cryptocurrency Regulations

Congress, the SEC, NYDFS, the Treasury, and the Fed all advocate for a regulated presence of cryptocurrencies in the U.S. 

However, we have seen that tangible steps have not been taken to the desired level for years. 

Cryptocurrency companies in the U.S. are being directed down a straight line with their eyes blindfolded, yet they can neither see nor find a straight line.

Due to the lack of necessary regulatory guidance, many companies have relocated their headquarters to countries like the UAE, Qatar, and Singapore. 

However, giants like Coinbase and Ripple announced their intention to stay and continue fighting in America. If Trump is elected, it could be a significant win for cryptocurrencies, likely leading to tangible crypto laws. However, Harris also promised to focus on regulations in a scenario where she wins the elections.

@ Newshounds News™

Source:  CoinTurk

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XRPL’S XAMAN WALLET 3.0 LAUNCHES: REVENUE SHARING AND DEVELOPER PERKS UNVEILED 

• Xaman Wallet’s version 3.0 introduces a revenue-sharing program to support developers and enhance the XRPL ecosystem.

• The new update offers a threshold-based model, universal transaction signing, and enhanced accessibility for developers and users.

 The XRPL-based wallet, Xaman Wallet, has released version 3.0, which marks a huge step forward by introducing a monetization model that splits money with dApp developers.

This version includes various enhancements to improve the user experience, including a new xApp page, NFT offer previews, more detailed transaction insights, and more smooth interactions with AMM pools.

Xaman Upgrade: User-Centric Design and Developer Revenue Sharing 

The new design not only provides a cleaner, more user-friendly interface, but it also makes browsing the wallet’s functionalities much simpler.

The most notable feature of this upgrade is the threshold-based paradigm, which allows low-transaction accounts to continue using the wallet for free while high-transaction accounts may need to subscribe to additional features.

This update demonstrates Xaman’s dedication to giving value to its consumers while also guaranteeing that frequent users have access to even more advanced features.

Looking ahead, Xaman has announced intentions to launch a revenue-sharing program for developers of popular tools and xApps within its ecosystem in early 2025.

Although the finer details are still being worked out, Xaman hopes to create an atmosphere in which user contributions not only fuel the platform’s growth but also benefit the community.

This program aims to build a more integrated and thriving community by allowing creators of popular xApps to earn monthly payouts.

For example, a developer who produces a highly engaging xApp will be compensated on a regular basis, encouraging innovation and the creation of useful tools inside the Xaman ecosystem.

By sharing money with developers, Xaman is actively aiming to create a collaborative atmosphere in which all participants profit from each other’s success.

Xaman version 3.0 also includes the Universal Transaction Signing tool. This tool allows developers to connect to any network while enabling a variety of amendments, making it easier to sign transactions and experiment with new transaction kinds.

This innovation is especially useful for developers wishing to experiment with new transaction models because it eliminates the difficulties associated with signing transactions across several networks.

Previously, CNF reported that Xaman Wallet had connected with C14, allowing for smooth fiat-to-crypto transfers and giving users access to the Xahau and XRPL tokens. C14’s integration greatly improves global accessibility by allowing crypto purchases in more than 50 countries. 

@ Newshounds News™

Source:   Crypto News Flash  

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PROOF RIPPLE WORKS WITH THE FED What It Means For XRP HOLDERS  |  Youtube

@ Newshounds News™

~~~~~~~~~

ERIC ADAMS DID SOMETHING BAD...  |  Youtube

NYC Mayor Eric Adams is facing charges and his aides are resigning. by The Economic Ninja

@ Newshounds News™

~~~~~~~~~

BREAKING NEWS: IRAQ'S ECONOMY LATEST UPDATE - MUST WATCH!  |  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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Will a BRICS Bretton Woods Take Place in Kazan?

Will a BRICS Bretton Woods Take Place in Kazan?

Arcadia Economics: 9-25-2024

As the geopolitical landscape continues to evolve rapidly, all eyes are on the upcoming BRICS meeting set to take place in Kazan, Russia next month. Renowned journalist and geopolitical analyst Pepe Escobar has been at the forefront of reporting on this pivotal gathering, particularly focusing on the emerging proposal for a BRICS settlement currency known as the ‘Unit.’

The ‘Unit’ is a proposed settlement currency that aims to facilitate trade among BRICS nations without relying on the US dollar. As countries grapple with the implications of geopolitical tensions and economic sanctions, the need for an alternative currency becomes increasingly crucial. The ‘Unit’ could serve as a tool not just for trade, but also for creating a more interconnected and diverse global financial ecosystem.

The question now arises: will Kazan mark the dawn of a new financial era akin to the Bretton Woods Conference of 1944? While the situation is fluid, the stakes are undoubtedly high. If the BRICS nations successfully unveil a cohesive strategy that incorporates the ‘Unit’, it could redefine economic relations not just among its members, but also with the rest of the world.

The potential shift would not just challenge the dollar’s supremacy, but could also catalyze other regions to explore similar frameworks, seeking alternatives that reflect their specific geopolitical and economic realities.

As we approach the meeting in Kazan, anticipation grows. Will the BRICS nations be able to forge a path towards a unified settlement currency? If so, the implications for global economics could be profound. Economic analysts, policymakers, and investors alike will be watching closely as these developments unfold. Pepe Escobar’s insights serve as a reminder of the significant changes afoot in international finance, and the Kazan meeting may very well be a turning point in this ongoing saga.

https://youtu.be/rsi0e0ctxtY

https://dinarchronicles.com/2024/09/26/arcadia-economics-will-a-brics-bretton-woods-take-place-in-kazan/

“Tidbits From TNT” Thursday 9-26-2024

TNT:

Tishwash:  Prime Minister: We will switch to the correspondent banking system to conduct 100% of foreign transfers by early 2025

Iraqi Prime Minister Mohammed Shia al-Sudani said that Iraq will switch to a correspondent banking system to conduct 100% of foreign transfers early next year.

This came during discussions he held with US Deputy Treasury Secretary Wally Adeyemo and a number of officials in the ministry regarding the government's efforts and plans for economic and financial reform, the move towards diversifying sources of Iraqi output, enhancing development targets, and practical measures implemented 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 that 95% of bank transfers are made through the electronic platform, and the remainder will be completed by the end of this year.  link

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Tishwash:  Enhancing Transparency: Rafidain Barcode System for Iraqi and Foreign Company Incorporation Certificates

Rafidain Bank announced, today, Thursday, the adoption of the health of the issuance system via the electronic barcode system for certificates of establishment for Iraqi and foreign companies

 The bank's media stated in a statement received by {Al Furat News}, "Based on government directives to simplify procedures and automate data, Rafidain Bank announces the adoption of the issuance health system via the electronic barcode system for certificates of incorporation for Iraqi and foreign companies, in addition to working on the search, investigation and inquiry system via OFAC lists and lists affiliated with the Committee for Freezing Terrorist Funds (local and international)."

He added: "The aim of these procedures followed by the bank is to inquire and verify companies that have indicators of sanctions and bans, whether local or international, so the bank follows due diligence procedures to audit in accordance with Anti-Money Laundering and Terrorism Financing Law No. 39 of 2015 and take the necessary precautionary measures." 

The bank confirms that the advantage of the barcode system lies in linking the bank and its branches to the ministry’s departments and cancelling the paper certificate verification process and transferring it electronically, saving time and speeding up the completion of transactions without resorting to the previous routine cycles. link

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Tishwash:  Masoud Barzani to a parliamentary delegation: There is an opportunity to legislate the oil and gas law

The President of the Kurdistan Democratic Party, Masoud Barzani, stressed today, Wednesday, September 25, 2024, that "the opportunity exists to legislate an oil and gas law to regulate the distribution of wealth."

During his reception of a delegation from the Parliamentary Finance Committee, according to a statement by the Parliamentary Media Department, received by "Baghdad Today", Barzani stressed "his desire to resolve the differences between the central government and the region, expressing his support for the Finance Committee's movement in this regard."

The meeting discussed, according to the statement, "the overall common situation and ways to resolve the pending issues between the central government and the Kurdistan Regional Government, in a way that establishes a new phase of cooperation, coordination and understanding based on respect for the Iraqi constitution."

Al-Atwani reviewed "the files that the Finance Committee delegation came to discuss with the Kurdistan Regional Government, most notably the implementation of the provisions of the Federal General Budget Law, the oil and national wealth file, the localization of employees' salaries, border crossings, taxes and customs, and other issues related to the financial aspect."

He stressed "the Finance Committee's constant efforts to find understandings that lead to radical solutions to the outstanding issues between the federal government and the region," stressing that "deferring the differences does not solve them, but rather increases their complexity."

Barzani praised the efforts of the Finance Committee "in terms of enacting laws, monitoring performance, and taking the initiative to end disputes."  link

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Tishwash:  Prime Minister stresses Iraq's openness to all forms of constructive economic partnerships

Prime Minister Mohammed Shia al-Sudani stressed, on Wednesday, Iraq's openness to all forms of constructive economic partnerships.

The Prime Minister's Media Office said in a statement, seen by "Al-Eqtisad News", that "Prime Minister Mohammed Shia Al-Sudani received in New York today, Wednesday, the CEO of Dubai Ports Company, Sultan Ahmed bin Sulayem, which is one of the most prominent companies specialized in managing ports in the world."

He added that "the meeting discussed aspects of cooperation and the possibility of benefiting from the extensive expertise available to Dubai Ports in the field of rapid transportation of goods and re-export, especially its extensive and successful experiences in transporting goods between Asia and Europe, where bin Sulayem expressed the company's desire to cooperate with Iraq in this field, as well as the possibility of forming partnerships with the private sector in various industrial fields."

The Prime Minister stressed - according to the statement - "Iraq's openness to all forms of constructive economic partnerships," referring to "Iraq's efforts to use the available capabilities to implement the Strategic Development Road project, which is among the priorities of the government program; as it represents an important pillar for the non-oil economy and an opportunity to develop infrastructure and provide thousands of jobs and employment opportunities   link

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