“Tidbits From TNT” Thursday 10-10-2024

TNT:

Tishwash:  Details of the meeting of the Federation of Iraqi Chambers of Commerce with the Kurdistan Regional Government

The Federation of Iraqi Chambers of Commerce held an economic meeting today, Thursday, October 10, 2024, in the city of Erbil in the Kurdistan Region

The head of the Kurdistan Regional Government Council of Ministers, Omed Sabah, said in a joint press conference with the head of the Federation of Chambers of Commerce, Abdul Razzaq Al-Zuhairi, which was attended by the correspondent Sumerian"

This meeting is part of the regional government's meetings and comes within the regional government's efforts to build the best relationship between Erbil and Baghdad," he noted, noting that "the meeting achieved great success and yielded fruitful results, and the trade relationship between the two sides was discussed."

 "We previously held a meeting with the Economic Ministerial Council, followed by another meeting of the Kurdistan Region delegation with the federal government," he added, stressing, "We agreed to hold another meeting in the Kurdistan Region's Council of Ministers."

Meanwhile, the head of the Federation of Chambers of Commerce, Abdul Razzaq Al-Zuhairi, stated at the conference that "the central government has a special response to the trade sector in the region."

It is noteworthy that the meeting included the participation of 19 heads of Iraqi chambers of commerce. link

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Tishwash:  A qualitative shift and an increase in trading.. Securities announces the launch of a new website for the Iraqi market

Wissam Al-Mulla

The Securities Commission announced today, Thursday, the signing of an agreement with the International Finance Corporation to develop the Iraqi market, and while it indicated the preparation of a guidebook to raise the transparency of companies, it confirmed that the new website of the Iraqi Stock Exchange will cover spot stock prices and is a qualitative leap.

The Chairman of the Securities Commission, Faisal Al-Haimus, told the Iraqi News Agency (INA): "The Commission signed an agreement with the International Finance Corporation in the first quarter of this year to develop the work of the Iraqi Stock Exchange."

He explained that "the Authority has worked on developing the guidance booklet and the government guide for companies, which is expected to be ready by the end of the year, in order to present it to companies and benefit from the guidelines contained therein."

He pointed out that "the booklet aims to increase the level of transparency for companies listed on the Iraq Stock Exchange, which are often late in publishing essential information and accounts, which affects investors."

He stressed that "the Commission has launched the new website of the Iraq Stock Exchange, which will cover spot stock prices, which will allow the investor to read the market movements of any company, and this is a qualitative shift that will result in an increase in trading."  link

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Tishwash:  Parliamentary Finance: These are the reasons for the rise in the dollar exchange rate against the Iraqi dinar

 The Parliamentary Finance Committee has identified the reasons for the rise in the dollar exchange rate against the Iraqi dinar during the current period.

Committee member, MP Jamal Kocher, said in a statement to the National Iraqi News Agency / NINA /: "There are several factors behind the rise in the dollar exchange rate against the Iraqi dinar, the most important of which are speculators, currency smuggling, lack of control over border crossings, some private bank owners, and some parties / not named / controlling money laundering, and other factors.

Kocher explained that the Central Bank of Iraq has nothing to do with the rise in the dollar exchange rate against the dinar, and there is no hosting of the bank president in parliament in this regard."   link

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Tishwash:  Minister of Agriculture invites Saudi Arabia to participate in the investment forum in Baghdad

Minister of Agriculture Abbas Jabr Al-Maliki called on Saudi Arabia, on Thursday, to participate in the investment forum scheduled to be held in Baghdad soon, while expressing his hope to open prospects for joint cooperation in the fields of agriculture, environment and water.

A statement by the Ministry of Agriculture stated that "the Minister of Agriculture headed the Iraqi side in the meetings of the Iraqi-Saudi Coordination Council to discuss prospects for joint cooperation between the two brotherly countries," noting that "the topics raised of common interest were discussed, and the activation of the memorandum of understanding between the two sides was also addressed, in order to advance the future agricultural reality."

He continued: "Cooperation and investment in water desalination projects were also discussed, considering that Saudi Arabia has extensive experience in this field, in addition to presenting and discussing a number of proposals that serve the interests of the two brotherly peoples in various fields of common interest, including agricultural fields."

According to the statement, the Minister of Agriculture called on the Saudi side to "attend the investment forum scheduled to be held in Baghdad next November," expressing his hope "to open prospects for joint cooperation in the fields of agriculture, environment and water."

During the meeting with the Saudi side, the Minister of Agriculture presented "investment opportunities in the agricultural field, which can be implemented and activated through achieving partnerships, and according to the instructions in force under the partnership law recently issued by the Iraqi government."

For his part, the Saudi side stressed "its keenness to enhance joint cooperation in the areas raised in the meeting, especially in the field of agricultural investment."  link

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Mot: .. Just Saying as You Season!!! 

Mot:  What happens when I sit down for “just a minute” to write my to-do list.

BRICS will use a gold-backed currency

BRICS will use a gold-backed currency

BRICS will most likely go for a gold-backed currency called the UNIT. 

BRICS countries are considering ways to promote local currencies in international trade and financial transactions. The group’s work has picked up speed lately and leaders may decide on their path forward at the BRICS Summit in October.

One BRICS currency alternative being considered, the UNIT, would use a gold-backed digital asset on a blockchain to settle global transactions. 

HOW THE UNIT WORKS

According to reports following the SPIEF and the June foreign ministers meeting, BRICS is considering a blockchain-enabled payment system that uses a digital asset called the UNIT. Based on the UNIT white paper, each UNIT would be backed by a reserve basket with the following characteristics:

Includes 40% gold

60% balance is made up of participating BRICS currencies which are convertible into gold 

No one currency has a greater than 30% weight in gold terms.

A UNIT is created or “minted” at a blockchain-based node when a consumer or investor participant deposits on reserve the corresponding value of gold and participating BRICS currencies. For example, to receive one gold gram equivalent value of a UNIT, a participant would deposit 0.4 grams of gold and 0.6 gold equivalent grams worth of participating currencies (figure 2).

The white paper envisions that UNIT nodes would have a connection to a physical storage hub with adequate transport connections and supporting infrastructure.

The UNIT is not designed to take local currencies’ place in domestic day-to-day transactions. It would work in parallel with established domestic banking and payment systems.

Gold on reserve forever

Gold is the anchor of the ecosystem. The existing gold supply plus annual gold mine production limits the amount of new UNITs created. In addition, as envisioned by the white paper, once gold and local currencies are put into the reserve, they stay there. The one exception to the on-reserve-forever rule is in the case where a node seeks to be bought out. In the case of a buyout, all UNITs returned by the node are canceled and its share of the reserves is returned.

The limited redeemability of the underlying reserves is an important characteristic of the UNIT ecosystem. The on-reserve-forever rule would essentially lead to ounces of gold coming out of central bank reserves, investor portfolios, or the ground and heading straight into permanent storage. This new permanent use case for gold has positive implications for gold miners. Once global investors begin to understand and believe that the UNIT ecosystem will require more gold over time, scarce reserves in the ground should become more valuable.

Re-rating of gold reserves in the ground

Importantly for the mining industry, the on-reserve-forever nature of the UNIT ecosystem would support the demand for gold. The extent of the support will initially depend on the rate of UNIT adoption for use in global commerce. In 2022, the exports of the five original BRICS countries were worth about US$5.3 trillion (China US$ 3.7 trillion).

Based on 2022 trade data and current gold prices, we estimate that for every 1% of market share of BRICS of export trade obtained by the UNIT, just over 250 tonnes of gold along with the equivalent of 385 tonnes of gold in participating BRICS currencies would have to be put on reserve at UNIT nodes.

The actual gold going on reserve at ecosystem nodes would represent almost 5% of the 5,672 tonnes of gold reserves held by the BRICS central banks as of the first quarter of 2024 as reported by the World Gold Council.

Given that most merchandise trade in UNITs would likely be driven by private sector participants, it remains to be seen to what extent central banks would be offering their gold to be used for the minting process. While central banks could conceivably provide some gold initially to help establish the ecosystem, we doubt that they will be running down their reserves as UNIT adoption grows.

As prospective UNIT adoption grows over time, unmined gold reserves would take on added importance considering the critical role gold will play in this new global payment system. Currently, the top three North American gold producers, Newmont (NEM), Agnico Eagle (AEM), and Barrick Gold (GOLD) have just over 7,500 tonnes of gold reserves in the ground as of December 2023. Once mined, those reserves would support the creation of enough UNITs to cover just over 29% of BRICS export trade in 2022. 

​How would a BRICS currency impact the economy?

A potential shift toward a new BRICS currency could have significant implications for the North American economy and investors operating within it. Some of the most affected sectors and industries include:

Oil and gas

Banking and Finance

Commodities

International trade

Technology

Tourism and travel

The foreign exchange market

How can investors prepare for a new BRICS currency?

Adjusting a portfolio in response to emerging BRICS currency trends may be challenging for investors. However, several strategies can be adopted to capitalize on these trends.

Diversify currency exposure by investing in assets denominated in currencies other than the US dollar, such as bonds, mutual funds, or exchange-traded funds (ETFs).  Link

Seeds of Wisdom RV and Economic Updates Thursday Morning 10-10-24

Good Morning Dinar Recaps,

WHY INDIA IS DELAYING CRYPTO REGULATION—THE SURPRISING REASON BEHIND IT!

India has yet to publish its long-awaited discussion paper on cryptocurrency policy. The country’s focus is elsewhere. For months, there was an expectation that the government would outline its stance by September. However, other pressing issues are now taking priority. So, what’s going on with India’s crypto policy, and why is it taking so long? Let’s explore what’s happening with crypto in India and why it’s not on the top of the list.

Delays, Priorities, and More Delays
According to insiders, India was supposed to release a discussion paper on crypto. This paper was expected to provide a direction for future regulation, especially after consultations with the central bank and markets regulators. However, there is no clear timeline anymore. Why? The country’s officials are dealing with more urgent issues. For now, crypto policy is on the back burner.

Competing Priorities in India
One big reason for the delay is the sheer number of competing priorities the government is handling. India is preparing for the 2024 annual meetings of the International Monetary Fund (IMF) and the World Bank. It’s also dealing with the ongoing Russia-Ukraine war and the conflict in the Middle East. On top of that, election season is heating up, and the Finance Ministry is busy with budget planning. With so much going on, cryptocurrency regulation is not seen as an urgent matter.

Crypto Not an Immediate Threat
Despite a recent $234 million hack of Indian exchange WazirX, the government doesn’t consider crypto legislation as critical as it was two years ago. While the sector is still unregulated, India has imposed heavy taxes and requires crypto entities to register with the country’s Financial Intelligence Unit to meet global anti-money laundering standards.

What to Expect?
India might eventually release its discussion paper, but no one knows when. For now, the government seems more focused on bigger international and domestic issues. So, if you’re waiting for clear crypto rules in India, it looks like you’ll have to wait a little longer.

@ Newshounds News™

Source:  Coinpedia

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THAI SEC PROPOSES REGULATIONS FOR CRYPTO INVESTMENT IN MUTUAL, PRIVATE FUNDS

Thailand’s Securities and Exchange Commission (SEC) has proposed draft regulations allowing mutual and private funds to invest in cryptos.

The proposed principle, announced Wednesday, is currently seeking public feedback on revisions to mutual funds’ investment criteria in digital assets.

The move comes at a time when interest in cryptocurrency investment is increasing. Thailand, one of the world’s most crypto-friendly nations, ranks 10th globally in terms of adoption.

The regulator noted that the funds will be allowed to invest in crypto exchange-traded funds (ETFs) listed on the US exchanges. Further, it also allows funds to choose investment tokens, which has attracted the interest of Thai investors.

“The funds will be allowed to invest in investment tokens subject to current investment limits of traditional securities, such as single entity limit, group limit, and concentration limit.”

The announcement read that for institutional investors and ultra-high-net-worth individuals with high-risk tolerance, the funds will be allowed to invest in crypto ETFs with no investment limit.

Thai SEC deputy secretary-general Anek Yooyuen said that investment tokens will have the same investment ratios as transferable securities. This is because they have key risks and features similar to traditional securities, such as debt securities, Bangkok Post reported.

“Relevant criteria will be revised to support the establishment and management of funds investing in digital assets, such as asset custody, digital asset value calculation, information disclosure and appropriate advertising.”

Thailand approved its first crypto ETF in June, issued by One Asset Management (ONEAM). The Thai SEC endorsed ONEAM’s Bitcoin ETF, marking a milestone in the country’s evolving regulatory framework for digital assets.

Thai SEC Mulls Initial Coin Offering, Increase Penalties for Violating Crypto Firms
Additionally, the regulator is also considering allowing authorised initial coin offering portals to use outsourced companies.

“This measure was endorsed by the SEC and a public hearing is needed before it can be implemented,” Yooyuen added.

Besides, the Thai SEC will also allow 10 private companies to explore trials for exchanging cryptos for Thai bhat as a part of digital asset regulatory sandbox project.

Furthermore, crypto firms that violate the SEC rules are considered a severe offence. As a result, the regulator aims to increase penalties for such companies in addition to their licenses being revoked.

Securities firms that send inappropriate trading orders will be fined a maximum of 1 million to 3 million baht. Investors who breach laws by manipulating stocks are subject to civil and criminal penalties, the report noted.

@ Newshounds News™

Source:  Crypto News

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RIPPLE ROLLS OUT CRYPTO STORAGE SERVICES FOR FINANCIAL INSTITUTIONS

Ripple Custody enhances security and compliance for fintech and banking sectors.

▪️Ripple Custody offers banks crypto storage with advanced security and policy settings.

▪️The service integrates with XRP Ledger to enhance trading and compliance capabilities.

Ripple is rolling out a new suite of crypto storage services designed to help banks and fintech firms securely store and manage crypto assets, according to a new report from CNBC. The initiative is part of Ripple’s strategy to diversify its offerings beyond traditional payment settlement operations.

Discussing the latest development, Aaron Slettehaugh, Senior Vice President of Product at Ripple, said the goal is to support the growing needs of businesses operating in the crypto and fintech sectors.

“With new features, Ripple Custody is expanding its capabilities to better serve high-growth crypto and fintech businesses with secure and scalable digital asset custody,” Slettehaugh said.

According to Ripple, the new features come with a more user-friendly interface for storing and managing digital assets. The services also include advanced operational and policy settings, integration with the XRP Ledger, and enhanced anti-money laundering monitoring to ensure compliance.

Under the Ripple Custody brand, the firm plans to allow clients to tokenize real-world assets using its XRP Ledger.

Ripple Custody operates in several countries and is trusted by several top companies like HSBC, BBVA, Societe Generale, and DBS. Ripple said that its custody division experienced over 250% year-on-year customer growth.

Ripple’s expansion into the custody sector follows its acquisitions of Metaco and Standard Custody & Trust Company, targeting bolstering Ripple’s custody capabilities.

The expansion positions Ripple against established firms in the crypto custody market, which is projected to exceed $16 trillion by 2030. Ripple Custody directly competes with well-established custody solutions by Coinbase, BitGo, and Gemini.

Ripple is gearing up to enter the stablecoin market with its upcoming stablecoin, Ripple USD (RLUSD).  RLUSD is in beta testing, with trials being conducted on the XRP Ledger and Ethereum blockchains.

As with its custody move, Ripple faces challenges as it enters a crowded stablecoin market dominated by established players. While there is potential for RLUSD, it will need to differentiate itself from existing offerings to gain traction.

@ Newshounds News™

Source:  Crypto Briefing  

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🌍WHY NUMISMATIC COINS ARE A COLLECTOR'S DREAM |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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News, Rumors and Opinions Thursday AM 10-10-2024

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 Thurs. 10 Oct. 2024

Compiled Thurs. 10 Oct. 2024 12:01 am EST by Judy Byington

Global Currency Reset: (Rumors/Opinions)

Wed. 9 Oct. 2024 Wolverine: Hi guys…For the people who are desperate to know what is going on. First, I’ve been advised to be quiet and allow the flow to go through. What I heard is that huge Whales have received their notifications and are flying to their destination to receive their blessing.

I can’t say more until I’m allowed to speak. Nothing is guaranteed in this journey but I have absolute faith that any day we are going to receive the news we’ve been waiting for. Please remain in faith and be patient as I know it’s h*****n all of us including myself. If I have anything to share and I’m allowed to I will let you all know. God bless. Your friend, Wolverine

Tues. 8 Oct. 2024 Bruce: Three sources saying we could be notified between Friday and Monday the 14th. One source is saying anytime from the 9th – 14th. Some timing depends on what happens with Hurricane Milton in Florida.

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Tues. 1 Oct. 2024 Currency Revaluation …Charlie Ward and Friends on Telegram

Key Currencies: Iraqi Dinar, Vietnamese Dong, and Zimbabwe ZIM

Iraqi Dinar: The Iraqi dinar has been undervalued for too long due to years of turmoil and economic instability. But everything is about to change. With this new treaty in place, the Dinar is set for a major revaluation—bringing newfound prosperity to Iraq and transforming its future.

This revaluation won’t just boost the economy; it will bring foreign investors flocking, pushing Iraq into a new era. The elites tried to suppress Iraq, but they can’t hold it down any longer. The rise is imminent, and those who know are getting ready to prosper.

Vietnamese Dong: Vietnam’s economy has been growing steadily, but the value of the Dong never reflected this progress—because they didn’t want it to. Now, with a revaluation, the Dong is set to be on par with the U.S. dollar, signaling the unstoppable rise of Vietnam’s economic power.

This isn’t just about Vietnam; it’s about a global shift, and the opportunities are endless. Trade, investment, and massive economic growth are on the horizon. Those in the know are already seeing the potential. Are you ready to seize the moment?

Zimbabwe ZIM: Zimbabwe has faced economic collapse, hyperinflation, and hardship—but the ZIM is coming back. The revaluation of the ZIM isn’t just a step forward; it’s a leap towards freedom from the chains the global powers placed on Zimbabwe.

This change will restore faith in Zimbabwe’s economy and pave the way for recovery and growth. The old system fears countries like Zimbabwe rising—but it’s too late to stop what’s coming. The revaluation is about reclaiming power, and those prepared will see rewards beyond belief.

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Global Financial Crisis:

Tues. 8 Oct. 2024: Morgan Stanley claims Amazon is considering laying off 14,000 managers from its 1.5 million-employee workforce. This is because the company is planning to reduce its managerial staff and it could lead to significant layoffs and cost-cutting measures.

Tues. 8 Oct. 2024: Spirit Airlines shares fell 30% on Thursday following a report it could file for bankruptcy.

Read full post here:  https://dinarchronicles.com/2024/10/10/restored-republic-via-a-gcr-update-as-of-october-10-2024/

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

Bruce   [via WiserNow]  ...as far as our timing for this...people are telling us...essentially it's coming from three separate sources...Two of them are saying we could get notified anytime between Friday...and Monday, the 14th...One source is indicating...any time from...the ninth through the 14th.

SkyWalker  The project [to delete the zeros] is more then just the currency or an exchange rate. The  monetary reforms, banking reforms, building up the reserves at the CBI, buying gold, making laws that attract foreign direct  investment, fighting corruption, increasing international trade, connectivity with international finance platforms, are just some  of the instruments that will justify the RV.  When the CBI is ready the new currency will be introduced with higher value that will  be fashioned specifically for the new macro and micro Iraqi economy.  

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OCTOBER WARNING: This Economic Index Hasn’t Been this LOW Since 1975

Daniela Cambone:  10-9-2024

"We’re in a world of inflation volatility,” says Peter Boockvar, Chief Investment Officer of Bleakley Financial Group. In a discussion with Daniela Cambone, Boockvar explains that the widely accepted two percent inflation target won’t remain steady.

He predicts deceleration through the end of this year, followed by an upward inflection next year. Given this volatility, Boockvar advocates for owning gold as a strong hedge, with silver offering even more potential for percentage gains.

He acknowledges the likelihood of a correction or pullback in precious metals, which he sees as typical in any bull market.

“Any sprinter will run out of gas. A healthier run is a marathon where there could be some slowdown in pace along the way. And even a breather is always a good thing to sort of recharge the batteries."

CHAPTERS:

00:00 Gold's performance

2:08 China’s gold purchasing

3:25 What makes gold bullish?

7:06 Western investors’ appetite for gold

 9:21 Economy overview

13:56 Fed’s next move

17:07 CPI

https://www.youtube.com/watch?v=TG0d8gdtP8k

Seeds of Wisdom RV and Economic Updates Wednesday Evening 10-9-24

Good Evening Dinar Recaps,

STABLECOINS NO ‘SAFE HAVEN’ FROM US MONETARY POLICY, SAYS EUROPEAN CENTRAL BANK

The ECB says that stablecoins are vulnerable to both shocks coming from within the crypto world and the decisions of U.S. central bankers.

The European Central Bank (ECB) has challenged the idea that stablecoins are a “safe haven” for investors in times of market turmoil, finding they are actually highly impacted by U.S. monetary policy.

The working paper examined the link between U.S. monetary policy, money market funds (MMFs), and stablecoins. “Monetary policy, in particular for the U.S. dollar, is the linchpin that connects crypto and traditional financial markets,” the authors concluded.

The paper argued that stablecoins—which have a fixed price and are typically pegged to a fiat currency, often the U.S. dollar—were vulnerable to shocks coming from within traditional financial markets, such as changing U.S. monetary policy, for example increasing interest rates.

Evaluating data since 2019, the ECB claimed the U.S. government raising interest rates led to a 10% drop in the market capitalization of stablecoins over the following 12 weeks.

Meanwhile, it found that traditional non-crypto assets, such as money market funds, actually received a significant influx of new capital during this same period.

A money market fund is a type of fund that invests in short-term debt securities such as U.S. Treasury bills, generally regarded as one of the most conservative, low-risk investment choices.

The paper argues that as monetary policy tightens up, investors demand fewer stablecoins for speculative purposes.

“Contractionary monetary policy shocks are thus negative for crypto: As the opportunity cost of holding unregulated non-interest bearing assets increases in a rising interest rate environment, investors move (on the margin) towards traditional investment assets,” said the paper.

The paper also examined the impact of events in the crypto world on stablecoin market capitalizations. The ECB found that market capitalizations of stablecoins—such as Tether or USDC—experienced pronounced falls during “crypto shocks,” or sudden devaluations in the overall value of Bitcoin.

On average stablecoins fell roughly 4% on average in the aftermath of “crypto shocks.” Examples of crypto shocks included Tesla’s decision to suspend payments from the Bitcoin network, China’s crackdown on cryptocurrencies, the TerraUSD/LUNA collapse, and FTX’s sudden bankruptcy.

As a result, they concluded that monetary policy had more of an impact on stablecoins than shocks to the crypto world. For example, during the “crypto winter” of 2021, major stablecoins like Tether received significant knocks to their market capitalization, although not to the same extent as non-dollar pegged currencies like Bitcoin.

In contrast, the paper concluded that big fluctuations in the crypto market don’t impact the world of traditional finance much—at least at the time of writing. It found a minimal correlation between big events in the crypto world and the inflow into money market funds, such as U.S stock market prices.

The paper didn’t take the Central Bank policies of other major economies into account.

@ Newshounds News™

Source:  Decrypt

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GARY GENSLER GRILLED BY LAW STUDENTS AND FORMER SEC COMMISSIONER OVER HIS STANCE ON REGULATING CRYPTO
▪️At a fireside chat on Wednesday with former SEC Democratic Commissioner Robert Jackson Jr. at the New York University Law Institute for Corporate Governance and Finance, asked SEC Chair Gary Gensler about the agency’s approach to digital assets.

▪️Law students also pressed Gensler about whether the SEC should be more clear in its stance on crypto.

U.S. Securities and Exchange Commission Chair Gary Gensler was pressed by law students and a former Democratic commissioner at the agency over his views on regulating cryptocurrency.

At a fireside chat on Wednesday with former SEC Democratic Commissioner Robert Jackson Jr. at the New York University Law Institute for Corporate Governance and Finance, asked Gensler about the agency's approach to digital assets.

 The SEC has often cited the Howey Test in crypto, which is a 1946 U.S. Supreme Court case used to determine if an asset qualifies as an investment contract and, therefore, a security.

"Is that the way we should oversee cryptocurrency, by trying to apply a 1940s Supreme Court decision to this technology?" Jackson asked.

Gensler stood his ground.

"Look, it's the law of the land and I took an oath of office to do it, but it also protects investors," Gensler said. "At the core of the securities laws, there is a basic concept — you all get to decide what you want to invest in."

That could be green energy or artificial intelligence, but either way, disclosures are necessary, Gensler said.

The SEC has brought a number of enforcement actions against big names in the crypto industry over the past few years, including FTX, Binance, Kraken and Coinbase. Meanwhile, Gensler has consistently warned that crypto exchanges must register with the agency and has said that most cryptocurrencies are securities.

However, crypto firms have argued it's not possible to register with the agency, in part because rules were made for more traditional entities that are different from the digital asset industry.

On Wednesday, Gensler also pointed toward fraud in the crypto industry, citing a report from the FBI last month that recorded a 45% uptick last year in losses tied to crypto since 2022.

"With all respect, the leading lights of this field in 2022 are either in jail or awaiting extradition right now," Gensler said.

Roberts also asked Gensler if it would be better to create a regulatory framework for digital assets. Gensler said that framework already exists.

"Just because people don't like the law doesn't mean there's no law," Gensler added.

A law student also asked Gensler about the SEC's term crypto asset securities and whether the agency should be more clear about its position.

The SEC said, in a recently amended complaint, that when the agency refers to crypto asset securities, it’s not referring to the crypto asset itself but the full set of contracts, expectations and understandings of the sales of such assets. The agency added that it "regrets any confusion."

Gensler said the agency has been clear over the years, including when former SEC Chair Jay Clayton headed the agency.

"Since then as well, the [SEC] have spoken clearly in a consistent voice and the courts have as well," Gensler said.

Another student asked what would happen to the utility of tokens if they were to become compliant with the SEC.

The SEC is "merit-neutral," Gensler said, and investors get to decide the utility. Gensler also noted that tokens are not likely to become a currency.

"It's unlikely this stuff is going to be a currency," Gensler said. "It's going to have to show its value through disclosure, through use."

@ Newshounds News™

Source:  The Block  

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The Financial WARS Begin

🏦 BlackRock, the world's largest asset manager, is secretly preparing for a potential US dollar collapse by launching a fund to back a new stablecoin created by Ethanol Labs, which will be backed by BlackRock's tokenized assets.

💰 Gold and silver prices have surged nearly 30% this year, outperforming equities and bonds, as inflation rises and investors seek safe haven investments.

🏠 Mortgage rates are increasing despite Fed rate cuts, with the 30-year rate spiking 25 basis points last Friday, while banks tighten lending rules and FHA delinquencies rise.

🌲 Lumber and meat processing companies are allegedly colluding to artificially inflate prices, causing builders to lose money on unsold homes, according to McDonald's lawsuit against Tyson Foods and others.

💼 The current economic situation is compared to the Great Depression, with rising unemployment and foreclosures, though during the Great Depression, three out of four people still had jobs.

@ Newshounds News™

Source: The Economic Ninja

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🌍 IOTA GAINS INSTITUTIONAL TRACTION AS FIREBLOCKS ADDS EVM SUPPORT TO ITS SECURE PLATFORM  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

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More News, Rumors and Opinions Wednesday PM 10-8-2024

TNT:

Tishwash:  Trade Bank of Iraq announces measures to support exchange rate stability

The Trade Bank of Iraq (TBI) announced today, Wednesday, that it has taken a series of measures to support the stability of the exchange rate and prevent exploitation by speculators.

The Director of the Tahrir Branch at the Iraqi Bank, Yarub Al-Hashemi, told the Iraqi News Agency (INA): "The bank's management has taken a series of measures to stabilize the exchange rate and prevent manipulation in the market, including increasing working hours in the bank's branches, which has had an impact on the speed of completing merchants' transactions, the smoothness of financial transfers, and eliminating the momentum in this regard."

He added, "There is a series of measures being taken successively that will have a clear impact on controlling the exchange rate, preventing speculators, and limiting the granting of dollars to the beneficiaries exclusively."

Prime Minister Mohammed Shia Al-Sudani directed "intensifying inspection procedures in financial transfer operations and not being lenient or lenient in pursuing speculators who exploit the crises the region is going through; to achieve personal profits and benefits at the expense of the public interest of the country."  link

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Tishwash:  Rafidain clarifies the Cabinet’s decision to approve the contract with K2 Integrity

 Rafidain Bank clarified, today, Wednesday, the decision of the Council of Ministers regarding approval of contracting with the company (K2 Integrity).

A statement by the bank received by "Al-Eqtisad News" stated that "within the banking reform plan adopted by the government of Prime Minister Mohammed Shia Al-Sudani, and for the purpose of developing a framework for governance, policies and procedures related to combating money laundering and terrorist financing in accordance with the requirements of correspondent banks, the Council of Ministers approved the bank's contracting with experts specialized in the field of compliance, combating money laundering and risk management."

The statement added, "This will contribute to strengthening the role of Rafidain Bank in activating international trade and facilitating the procedures for opening accounts with reliable foreign correspondent banks  link

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

CaliforniaSugar:  Not sure if I'm reading into this story with Dinar Goggles, but the timing of this deployment is interesting.

700 National Guard deployed to Kuwait for 1 year

https://www.youtube.com/watch?v=yQ1YEcIkWIM

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

Frank26   [Iraq boots-on-the-ground report]   FIREFLY: Saleh on TV saying digital banking is the next stage for the digital transformation FRANK:  Yeah, give us the new exchange rate so it can move...If they weren't about to do that why in the world would they teach you all of this information right now?  FIREFLY:  Yes...it's a good point.  My bank friend even told me that all this information if for us not to miss out on the monetary reform.

Militia Man  It's one of those nail biting time-frames for us all because we've all been here and we've been watching this whole investment unfold.  It looks like Al-Sudani and his teams have communicated well globally and are going to produce...

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

BRICS Decided to Change the World Order: End of the United Nations?

Fastepo: 10-9-2024

Since its creation, the UN has played a crucial role in post-war reconstruction, especially in Europe, and in the process of decolonization during the 1950s and 1960s, reflecting its central role in global governance.

It has also been involved in numerous peacekeeping and conflict resolution efforts globally. Moreover, the UN has been a significant player in promoting human rights, notably through the Universal Declaration of Human Rights in 1948, and addressing global challenges such as climate change, terrorism, and health crises.

The UN's evolution from its original membership of 51 states to nearly every internationally recognized independent country today (totaling 193 members).

Nevertheless, the United Nations (UN) has faced a broad range of criticisms since its establishment, which have centered on various aspects of its structure, functions, and outcomes. Some of the most persistent criticisms include issues of inefficiency, ineffectiveness in conflict resolution, a lack of transparency, and perceived biases.

Critics often point to the UN's bureaucratic inefficiencies, noting that the organization can be slow to respond to crises due to its complex and cumbersome decision-making processes. This is exacerbated by the need for consensus among major powers in the Security Council, where the veto power of the five permanent members can block significant action.

The UN has also been criticized for its ineffectiveness in resolving conflicts. Despite numerous peacekeeping missions, the UN has been seen as unable to prevent or end conflicts decisively, with some missions marred by allegations of misconduct and ineffectiveness.

Examples include failures in Rwanda and the former Yugoslavia during the 1990s, where UN action was deemed inadequate in the face of genocide and widespread violence. Transparency and accountability issues have also plagued the UN, with critics arguing that it operates with a significant lack of openness regarding decision-making and financial expenditures.

This opacity can undermine the credibility of the organization and fuel perceptions of corruption. Moreover, the UN has been accused of having a biased approach to international issues, often influenced by the interests of its most powerful members rather than the principles of universal justice and equality.

This criticism is particularly vocal in relation to the Israeli-Palestinian conflict and other Middle East issues, where the UN's actions—or lack thereof—have been seen as part of a broader geopolitical bias. The Security Council itself is a significant source of contention, as the composition and power dynamics within the council reflect the post-World War II order, not the current global realities.

 This structure leads to criticisms of unrepresentative governance and inequitable influence, with calls for reform to include emerging powers and more equitably distribute decision-making authority.

https://www.youtube.com/watch?v=sRy36OYrDuE

Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 10-9-24

Good Afternoon Dinar Recaps,

LEADING STABLECOIN ISSUERS & CRYPTO FIRMS EMBRACE INTERNATIONAL SET OF STABLECOIN STANDARDS

London, United Kingdom, October 9th, 2024, Chainwire

▪️Stablecoin Standard’s newly introduced set of global standards receives endorsement from a number of stablecoin issuers, including GMO-Z.com Trust Company (‘GMO Trust’), StraitsX and BiLira, that offer G10 currencies including JPY, SGD, TRY & USD

▪️Standards also endorsed by top ecosystem participants including Fireblocks, Solana, Bitst,amp, Zodia Markets and JST Digital

Stablecoin Standard, the industry body for stablecoin issuers globally, today announced that their recently unveiled set of global standards for stablecoin issuers have been endorsed by some of the leading stablecoin issues and ecosystem participants in the industry.

Among those who have endorsed are Archblock, BiLira, Bitstamp, GMO-Z.com Trust Company (‘GMO Trust’), JST Digital, Fireblocks, Solana Foundation, StraitsX and Zodia Markets, signaling a new era of cooperation and standardization within the stablecoin industry.

The standards, announced by Beth Haddock, Global Policy Lead at Stablecoin Standard, at the Annual Flagship Event in Singapore, were designed to promote operational resilience, transparency and consistent issuer commitments globally.

Stablecoin Standard’s Policy Working Group created the high-level standards that are both general and actionable, while being sensitive to the innovation in the market.

Beth Haddock, Global Policy Lead at Stablecoin Standard, commented on the endorsements: “Their endorsement not only validates the rigor of our proposed framework but also underscores the importance of creating a stable, transparent, and resilient environment for digital currencies.

This milestone, following discussions at our annual meeting, sets a strong foundation for the continued evolution of the ecosystem.”

The endorsement of the standards lays the groundwork for a stablecoin ecosystem that prioritizes transparency, security and consumer protection. With increased scrutiny from regulators and growing demand for digital assets, unified standards can provide clarity and assurance to both industry participants and the public.

Stablecoin Standard’s new framework aims to accelerate the adoption of stablecoins by fostering greater confidence among consumers, regulators, and traditional financial institutions.  

Ramy Soliman, Co-Founder of Stablecoin Standard, commented on the endorsements: 

“The endorsement of our global standards by leading stablecoin issuers such as, BiLira and ecosystem participants, including industry leaders like Solana, Zodia Markets and JST Digital, is a vital step toward establishing a unified, trusted framework for the entire sector.

As stablecoins continue to redefine the future of digital payments, these standards will provide the foundation for long-term growth, transparency, and security.

This collective commitment—solidified during discussions at our annual meeting—not only underscores the industry’s dedication to fostering innovation but also demonstrates a concerted effort to align with evolving regulatory expectations and build the consumer trust essential for stablecoins to thrive globally.”

Stablecoin Standard and its endorsing members plan to continue refining these standards for implementation with the goal of achieving industry-wide adherence by Q4 2025.

Quotes from Endorsers:

Sinan Koç, Co-founder and CEO of BiLira, commented on their endorsement, “As a stablecoin issuer, BiLira has always prioritized transparency, security, and adherence to high standards, which is why we are proud to endorse the Stablecoin Standard’s newly introduced set of global standards.

TRYB is governed with a commitment to uphold these principles, which we believe are essential for fostering trust and stability in the rapidly evolving digital asset space. We support this initiative as a significant step towards a more resilient and unified stablecoin ecosystem.”

Ran Goldi, SVP Payments and Network at Fireblocks, commented on their endorsement, “With more than a dozen stablecoins issued on Fireblocks, we strongly believe standards are the right path for our ecosystem with regard to interoperability and reaching the holy grail of instant liquidity any time, anywhere. SCS is taking a big, bold step, and we proudly endorse and stand with them on this journey.”

Kenny Chan, Head of StraitsX, commented on their endorsement, “As one of the leading regulated stablecoin issuers in Asia, StraitsX is committed to upholding the highest standards of transparency and operational resilience.

We are proud to support the Stablecoin Standard’s newly introduced global standards, which will help build greater trust in the stablecoin ecosystem and ensure that digital currencies can be securely and seamlessly adopted by businesses and consumers worldwide.

By working collaboratively with key industry participants, we believe these standards will provide a strong foundation for the future of stablecoins, promoting innovation while ensuring compliance with evolving regulatory frameworks.”

About Stablecoin Standard

Stablecoin Standard (SCS) is the industry body focused on setting operational, transparency, and product related standards for stablecoins. The SCS plans to achieve industry wide standards by sharing international best practices, business development use cases, forming industry led working groups defining what a high-quality liquid stablecoin should look like, and engaging with policymakers domestically & internationally.

The SCS ecosystem consists of over 30 advisory board members, industry partners and issuers that offer digital currencies in global jurisdictions such as the US, EU, Singapore, Australia, and Turkey – among others.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

CHINA STRENGTHENS RUSSIA PARTNERSHIP VIA BRICS AND SCO COOPERATION

China has reaffirmed its commitment to closer relations with Russia through major international platforms like BRICS and the Shanghai Cooperation Organization (SCO). 

At an event celebrating 75 years of diplomatic relations, State Councilor Shen Yiqin emphasized China’s readiness to bolster international cooperation and multilateral partnerships, especially within the Global South.

China Reaffirms Strategic Commitment to Russia on 75th Anniversary of Diplomatic Ties

Chinese State Councilor Shen Yiqin reaffirmed China’s commitment to closer ties with Russia through platforms like BRICS and the Shanghai Cooperation Organization (SCO) at an event marking the 75th anniversary of diplomatic relations between the two nations. Speaking at the Russian embassy in Beijing, Shen emphasized China’s readiness to enhance international cooperation. She said:

We are ready to proudly carry the banner of multipolarity, defend international equity and justice, increase cooperation within international platforms, BRICS and SCO in particular, unite the Global South, and contribute to forming a community with a unified course for humanity.

Shen’s remarks highlighted China’s dedication to building stronger multilateral ties. She also spoke of the strategic importance of continued collaboration with Russia, noting that the two countries are united in their efforts to further deepen their partnership. Shen noted:

We will pursue deepening full-scale cooperation with our Russian friends for the good and in the interests of the national revitalization of the two countries in accordance with the top-level agreements within the context of the celebration of the 75th anniversary of the establishment of diplomatic ties and the Years of Culture.

The Chinese leader also recalled the recent exchange of congratulatory messages between President Xi Jinping and President Vladimir Putin, affirming both nations’ commitment to stronger bilateral relations.

@ Newshounds News™

Source:  Bitcoin News

~~~~~~~~~

 AUDIO - BOB LOCK - TEXAS SNAKE AND BLONDE - MANAGING SUDDEN WEALTH THROUGH SMART TEAM BUILDING.  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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Thank you Dinar Recaps

Economist’s “News and Views” 10-9-2024

The Biggest Market Crash Since 2008 Just Hit Asia, is the US Next?

Steven Van Metre:  10-8-2024

The financial world is abuzz following what has been termed the largest market crash since 2008, a seismic event that has reverberated throughout the Asian markets. Investors and economists are now pondering a crucial question: Is the United States next in line for a similar downturn?

The recent market crash in Asia was triggered by several intertwining factors. Firstly, soaring inflation rates—exacerbated by ongoing supply chain disruptions and geopolitical tensions—have put immense pressure on economies across the region. Not to mention, rising interest rates set by central banks to combat inflation have raised concerns about slowing economic growth.

https://youtu.be/1xricD6Xp54

Economic Shock: China Stimulus Panic Sell-Off, US Treasury Dump To Snap Global Markets

Sean Foo:  10-9-2024

Across the board, investors started selling Chinese stocks as fear builds that China might never pull the fiscal bazooka.

Investors still don't understand the Chinese market and why Beijing might be waiting till 2025. Meanwhile, US bonds are selling off pushing yields higher. This will re-inflate the Yen carry trade risk that imploded global markets in August.

Timestamps & Chapters:

0:00 China Stimulus Fear Burns Investors

3:11 Beijing Holding Firepower For 2025

6:08 US Bond Yields Disaster

7:30 Sponsor: Indigo Precious Metals

8:55 Disastrous US Jobs Report

 9:55 Yen Carry Trade Collapse 2.0

12:53 2025 Extreme Economic Risk

https://www.youtube.com/watch?v=svg9UpcylyA

The System Is On Fire - There's No Way Out | Bill Holter

Liberty and Finance:  10-8-2024

Bill Holter warns of an impending U.S. Treasury default due to skyrocketing interest payments projected to exceed $1.5 trillion annually.

He argues that the Federal Reserve is fundamentally broken, lacking the equity to support its massive balance sheet.

INTERVIEW TIMELINE:

0:00 Intro

1:30 Severe storms

6:38 Global crises

10:30 Gold scams

24:10 Storage

27:00 Proof coins

33:30 Gold never changes

 38:57 Silver confiscation?

40:00 Financial collapse

https://www.youtube.com/watch?v=KkLk79OFD0A

“Coffee With MarkZ” Wednesday Morning Chat 10-9-2024

Thank you MarkZ for all your time, and encouragement daily….. PDK

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: GM all wonderful people on the chat

Member: Are we there yet?

Member: I feel this journey will never end and we all are just hanging on by a thread

Member: It’s always darkest before the dawn…

Member…..With all the bad going on everywhere is the world….we could sure use some good news.

MZ:  “Parliamentary Finance : These are the reasons for the rise in the exchange rate of the dollar against the Iraqi dinar”  There have been fluctuations going on right now. The Central Bank is saying “It’s not us” They have a pegged exchange rate and the inconsistencies are because of smugglers and unscrupulous business people in some unlicensed exchange offices.

MZ: The reality is that this is going to exist until the value of the dinar is the same or more that the rate of the US dollar. And they know it at the Central Bank. They know this problem will instantly go away the moment they get a rate change.

Member: Then why don’t they do something??????  

MZ: I think the Central bank is letting us know how close they are to the REER. (Real Effective Exchange Rate)

Member: Iraq is like a baby.. it arrives in it's own time!!

MZ: “The value of loans and advances to Iraq banks increased to more than 61 trillion dinars”  What does this mean? This is what we thought we would see as their economy kicks into a life of its own. There is a lot of progress in Iraq right now.

MZ: “Iraq oil prices are rising. Basra crude touches $78”  

MZ:  There is a lot of conversation going on right now about a real effective exchange rate. A meaningful rate change….The value of the dinar is very important and oil prices can and will affect it. They are looking for a oil price above $70 a barrel  for stability but would love it above $80..

MZ: If you follow most of their math on the REER ….The worst case scenario or bare minimum it could possibly be is.76 cents..….. What we are expecting is in the high $3 range or low $4 range which makes the most economic sense. I am still being told to expect higher than that.

Member: 76 would be in country if anything-imo. We’ll have a REER added.

Member: Have you heard from any Bond holders yet?

MZ: No banker or bond news yet this morning. It’s been very dry and very silent.

Member: Ok there is a lot of chatter about VND and others....my question is are they going to all RV at the same time or does anyone know

Member: IMO If Iraq goes first and alone – the others will follow shortly after…….

MZ: I have not seen anything on the dong recently. My bank people are still telling me its fluctuating from $2.16 to over $3 on screens. They say to not put too much faith in those yet as it is probably just a testing of the system.

Member: We may need a show on how to diversify and protect our exchanges  if we get paid Fiat?

Member: Iraq has completed WTO requirements according to articles

Member: What did the Kuwaiti dinar go for when they RV’d?

MZ: I believe it was about $3+ and fluctuating….It went up to about $9.88 within days on that crazy float…..Then it came down to the $4’s and settled in the mid $3’s where is has pretty much stayed for more than 20 years….. …It was not pegged. That is why I think we will not see the same crazy float with Iraq.  

Me Member: You think the weather is disrupting the RV? Is this their way of halting it…the rats that is

Member: At this point I don’t think there is any specific event that will trigger the RV. That’s said, given all the progress that’s been made in the past 2.5 years it makes no sense why it hadn’t happened!

MZ: I do not think a hurricane in the US will stop a RV in Iraq.

Member: Iraq is in a great position now…..They just need to do it!!

Member: Nigeria dumped the dollar.. now paying in local currency

Ember: BRICS is having big meetings this month….

Member: This upcoming weekend is a 3 day weekend for Columbus day….Maybe something will finally happen.

Member: I still believe we have to wait until after the election…..but that is only 3 weeks away now .

Member: Everyone we are praying you will be safe in the coming storm about to hit Florida….

Member: Also praying for the people in North Carolina who are still recovering from Helene….

Member: Have a very fantastic and blessed day all of you blessed people of God and be very safe everyone.

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.

 ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut

THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!

Twitch:   https://www.twitch.tv/theoriginalmarkz

Youtube:    https://www.youtube.com/watch?v=s1AW0Qlmqms

News, Rumors and Opinions Wednesday AM 10-9-2024

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

RV Excerpts from the Restored Republic via a GCR: Update as of Wed. 9 Oct. 2024

Compiled Wed. 9 Oct. 2024 12:01 am EST by Judy Byington

Possible Timing:

On 18 Oct. 2023 the US Treasury said that they were bankrupt.

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

Global Currency Reset:  (Opinions/Rumors)

Tues. 8 Oct. 2024 Wolverine: “We’re home, just hold on for another day.”

Mon. 7 Oct. 2024 Wolverine: “The digital banking system in Iraq has been spreading salaries for three days. Digital banking system is working now in Iraq. The rate can change any moment from now.”

Tues. 8 Oct. 2024 Mike Bara: “On the German Bond side, “Not yet.” Still could happen today. Was also told the hold up for the last 10 years was Zimbabwe when they went to gold in 2015. We’ve been waiting for all that time for them to get their tasks done and they were “done” as of yesterday Mon. 7 Oct. 2024.

~~~~~~~~~~

Tues. 8 Oct. 2024 Bruce:

This next Mon. 14 Oct. is Columbus Day and we think the banks will be closed and is this that three day weekend  – but RC might well be open.

This morning we were advised that Gesara which is the International scope started this morning.

Nesara deals with the US and we heard that will be activated implemented on Sunday 13th or maybe Monday or Tuesday.

We should be getting our taxes back with the R&R and also interest on CC and bank loans and mortgages done through the banks and also the trading on all those certificates we were made to have. All of that ends up we will be getting those funds back.

For those of us exchanging at the Redemption Centers those funds would already be in your QFS account.

Wells Fargo is overseeing all the RC in the US. In Canada it is HSBC and Scotia Bank. In Mexico Santander Bank. The rest of the world is still HSBC and maybe some others in other countries.

Three sources saying we could be notified between Friday and Monday the 14th. One source is saying anytime from the 9th – 14th. Some timing depends on what happens with Hurricane Milton in Florida.

Bond Holders are going to be notified in their emails when they would receive the total amount. Those emails could come out at any time.

~~~~~~~~~~

Tues. 8 Oct. 2024 QFS: The New Quantum Financial System (QFS) ~ Trust The Plan! October 2024 …Julian Assange

The Quantum Financial System (QFS) is here, and it’s set to change everything. Medeea Greere brings you the latest intel, no filters, no distractions—only the truth.

The QFS, launched into space last year, has been tested and proven. Now it’s ready to roll out across the globe. Four major portals will connect the world:

US Portal: Connected with Canada, America, and all of South America. The US Note (USN) will serve as the main entry for these nations.

European Portal: Connecting Spain, Portugal, Italy, France, Germany, and other European nations, including Scandinavia.

UK Portal: Covers England, Scotland, Ireland, and Wales, linked with a Sterling Token.

Asia-Africa-Australia Portal: Links India, Pakistan, Africa, New Zealand, Australia, and the rest of Asia.

Every region will have its own local currency backed by gold reserves, and each gold reserve will be tracked with nano-engineering to prevent corruption. The deep state’s ability to manipulate assets will be blocked.

Why do you think they’re suppressing gold and silver? Because they fear what comes next. The US Dollar and Euro are now worthless, artificially propped up to prevent chaos. But the collapse is imminent, and the transformation is already happening.

BRICS nations (Brazil, Russia, India, China, South Africa) activated their portals just two days ago. The deep state is losing control, and the truth is about to shine.

The future belongs to the awake. It’s time for all patriots to unite, to trust the plan, and to prepare for what’s coming. The storm is upon us, and we are ready.

~~~~~~~~~~

Tues. 8 Oct. 2024: Cuba has officially applied for partner status in BRICS, marking a significant step in strengthening its ties with the influential bloc of emerging economies. The Cuban government’s interest in joining BRICS reflects its commitment to South-South cooperation and desire to forge closer ties with nations like China, Brazil, Russia, India, and South Africa.

Read full post here:  https://dinarchronicles.com/2024/10/09/restored-republic-via-a-gcr-update-as-of-october-9-2024/

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

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

Militia Man  Everybody knows that Iraq...said back in September of 2023...that Iraq was going to be the savior of the international financial system, bring confidence to the financial system in the largest banks in the world...They've been working on this to do what they said they were going to do.

Frank26  A lot of people unfortunately are considering this a lop...You really think they're going to take a pair of scissors and go click, click, click [cutting off zeros from the physical notes]?  What is this...it's got holes in it?  You just cut it all up...No, if they did that it's called a lop...So where does it come off of?  A [physical note] is called a currency. You're not going to take it off the bill...Iraq's exchange rate is .00076981 .  You take the decimal point and you move it over to the right three spaces because that's three zeros and this becomes $0.76 . Got it?  This is purchasing power when you change the exchange rate by lifting 3 zeros. What is the exchange rate right now in Iraq?  1320 .  When they change the exchange rate that will become internally for the Iraqi citizens 1.320

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

LIVE! (Alert). FOR THE US DOLLAR AND AMERICA TIME IS QUICKLY RUNNING OUT.

Greg Mannarino:  10-8-2024

https://www.youtube.com/watch?v=kZL3N2Vz-4o

“Tidbits From TNT” Wednesday Morning 10-9-2024

TNT:

Tishwash:  The government completes the file to join “WTO”

 After the important steps and achievements made by the government in more than one file and sector, it was the turn to address the world and confirm that Iraq has become an economic power that should not be underestimated, and has all the qualifications and capabilities to join the World Trade Organization (WTO) after completing all preparations for that.

 The government headed by Prime Minister Mohammed Shia Al-Sudani has set, within its government program, a clear vision for the economic future in Iraq, which included setting timetables for achieving the liberalization process and focusing on sectors with high potential such as agriculture, industry and services, which contributes to accelerating accession to the organization.

According to the spokesman for the Ministry of Commerce, Mohammed Hanoun, to Al-Sabah, "All preparations were completed by the government team representing all ministries, which held an important meeting in Abu Dhabi headed by Minister of Commerce Athir Dawood Al-Ghariri."

He explained that "Iraq has fulfilled all the requirements for joining the organization, through a package of legislation and laws currently being discussed to reform the current legal system to be in line with the requirements and controls of the international organization, such as coordinated trade policies throughout the country, including tariff rates and customs procedures."

Experts believe that joining the organization will be a "major achievement" for the government, especially since it has great benefits, including increasing Iraqi exports and contributing to stimulating economic growth. Hanoun praised "the efforts of the Kingdom of Saudi Arabia through its team in the organization, through coordination with it, as it is the main partner in Iraq's accession to this international organization."

He stressed that "all ministries are working to ensure that the team has the information that helps it join the organization, especially since joining the World Trade Organization benefits Iraq in expanding free trade."  link

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

Tishwash:  Al-Sudani stresses the importance of setting standards for partnership between the Iraq Development Fund and the private sector

 Prime Minister Mohammed Shia Al-Sudani stressed, today, Wednesday, the importance of setting standards for partnership between the Iraq Development Fund and the private sector

His media office stated in a statement received by {Al Furat News} that "the latter chaired the periodic meeting of the Board of Directors of the Iraq Development Fund, during which a number of topics and procedures related to the work of the fund were discussed, and it was agreed to proceed with signing the contract with the consulting company supervising the "Edopa" project, which aims to build schools, as part of the efforts made to fill the shortage of school buildings in Iraq." 

During the meeting, Al-Sudani stressed the "importance of cooperation with the private sector and setting clear standards for partnership between the Fund and the private sector," noting the need to rely on what will be provided by KBR, which represents the advisory side of the government. 

He also stressed the "need to coordinate with the governorates to increase the number of schools that will be established through the fund within the Iduba project."   link

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

Tishwash:  The Central Bank continues the actual implementation of banking reform plans

Based on the decision of the Council of Ministers to approve the National Strategy for Bank Lending in Iraq on 8/18/2024, which was launched by the Central Bank on 5/25/2024, the Supreme Executive Committee for the Strategy began its work and held its first meeting headed by the Governor of the Central Bank, which is a clear announcement of the beginning of the actual phase of implementing its strategies for banking reform, which includes what is stated in its third strategy, the national strategy for lending, environmental and social standards, and corporate governance for banks.

And draw a clear roadmap in agreement with the global Oliver Wyman Company to start developing the banking sector. This means that it has completed the first phase of the banking reform process, which is drawing up policies, programs and standards and determining the main and sub-goals for the transition to a complete reform by achieving tangible and important results in the field of regulating foreign trade financing and regularity in the global financial system through strict adherence to international compliance standards and building solid international banking relations with global banks and correspondent banks and introducing the local currencies of countries with significant trade exchange to cash transactions in their local currencies in addition to dealing in the US dollar.

Also, activating and strengthening its procedures in the transition from a cash economy to a digital economy and cooperating with the government in expanding the use of electronic payment tools and spreading the culture of transitioning to a cashless society.

Certainly, the above tasks occupied a large part of the efforts at the local and international levels. Within the reform map led by the Central Bank with the cooperation and support of the government and the support of the Prime Minister personally, the focus will be on restructuring government and private banks in a way that does not allow the existence of troubled and unsound banks and starting to implement new policies to support and develop small, medium and large enterprises and support youth according to what was stated in the National Lending Strategy by achieving two main goals:

The first is to increase credit granted to the private sector by 4% of the non-oil GDP until 2029, equivalent to 7 trillion dinars, and the second is to increase credit to finance small, small and medium enterprises by 3% of the non-oil GDP, equivalent to 5 trillion dinars (55% of the financing gap), which contributes to operating 100,000 projects to stimulate and stimulate the economy and achieve development, in addition to starting to establish and license the Riyada Bank and license the Green Bank, which will specialize in sustainable financing of renewable energy projects, as well as moving towards licensing digital banks to keep pace with progress in the field of modern digital banking products.

The electronic platform will also be gradually withdrawn this year. One of the tasks that will begin is the rehabilitation of banks restricted from dealing in the US dollar to comply with international standards in light of the work of the joint committee between the Central Bank and the US Treasury Department, through which the work of these banks in the foreign transfer activity for previous years will also be analyzed and audited by international auditing companies, in the hope that restrictions will be lifted.

What we expect from the procedures and policies adopted by the Central Bank, what has been achieved, and what will be achieved later will be reflected in achieving economic stability by overcoming the challenges of stability in the financial and monetary system, which will contribute to the stability of the exchange rate and the recovery of the Iraqi dinar inevitably.  link

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

 Mot: . Bet Ya Didn't Knows This un! -- HUH!!! 

Mot:  .. Just Love the Internet and all the Trusimisssmsss I find!! 

Seeds of Wisdom RV and Economic Updates Wednesday Morning 10-9-24

Good Morning Dinar Recaps,

TAIWAN TO TRIAL CRYPTO CUSTODY SERVICES THROUGH LOCAL BANKS IN 2025

Taiwan’s Financial Supervisory Commission reportedly plans to start collecting applications from institutions interested in trialing Bitcoin custody services in the first quarter of 2025.

Taiwan is looking to advance institutional cryptocurrency adoption as local regulators aim to pilot crypto storage services through local banks.

The Financial Supervisory Commission (FSC) of Taiwan is preparing to launch an institutional trial of crypto custody services, the local news outlet, Central News Agency, reported on Oct. 8.

While the FSC reportedly expects to start collecting applications in the first quarter of 2025, three private banks in Taiwan have already expressed interest in piloting a crypto custody business.

FSC mentions Bitcoin, Ether and Dogecoin
Citing explanatory information by the FSC, the report stated that financial institutions applying for a trial run of crypto custody in the future would have to specify the type of assets they store for clients, such as Bitcoin, Ether, or Dogecoin.

Additionally, the institutions must include information about the type of users they target, whether those are professional or general investors, crypto asset platforms or others.

FSC’s director of the comprehensive planning division, Hu Zehua, reportedly mentioned at a press conference on Monday that the authority expects to publicly release the information on the upcoming trial at least 15 days before starting accepting applications. The FSC will also be collecting public feedback on the proposed trial and revise the process accordingly.

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Source:  CoinTelegraph

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IOTA GAINS INSTITUTIONAL TRACTION AS FIREBLOCKS ADDS EVM SUPPORT TO ITS SECURE PLATFORM

▪️Fireblocks has announced the integration of the IOTA EVM, allowing institutional investors to transfer, hold and manage IOTA tokens and tokenised assets.

▪️The institutions can also leverage the Fireblocks REST API to develop IOTA token solutions for their retail clients across DeFi, GameFi, NFTs and more.

Crypto is no longer a retail game for speculators and meme coin lovers. Today, crypto and the underlying blockchain technology underpin global applications that span dozens of industries and impact the global economy. 

This has brought on institutions and multinational corporates, and with the recent Fireblocks integration, this group can now store, transfer and manage IOTA tokens and assets tokenized on the network.

IOTA announced the Fireblocks integration this week, describing it as “a major step forward in supporting a wide range of digital asset operations.”

The New York-based Fireblocks is one of the world’s leading digital asset platforms, serving some of the world’s largest institutions and allowing them to delve into digital assets without all the associated risks. Launched in 2019, Fireblocks has facilitated over $6 trillion in digital assets and supports over 80 protocols and networks.

 It has now integrated IOTA EVM, allowing its massive network of enterprise users to transact IOTA tokens and assets on the network through its API and console.

The integration allows institutional investors to store their IOTA tokens in their Fireblocks vaults and transfer the tokens over the Fireblocks network to other investors.

 It’s not limited to institutional use, however. These institutions can launch token support for their retail customers with Fireblocks’ REST API, the base layer of the company’s SDKs that allow them to program its services and customize them for their target audience. 

They can then deploy these tokens into retail-facing applications across DeFi, NFTs, GameFi, and other marketplaces.

Toeknisation is the biggest target market for institutions, with Goldman Sachs projecting that the sector could hit $16 trillion by 2030. It also aligns with IOTA’s redefined vision, as founder Dominik Schiener explained to Crypto News Flash earlier this year in an exclusive interview.

The Fireblocks integration fits into this, allowing users to securely mint and transfer tokenised assets.

The IOTA team summed up the new integration as monumental, stating:

In conclusion, IOTA EVM’s integration into Fireblocks marks a significant milestone towards offering a top-notch ecosystem for institutional and enterprise users. The storage, transfer, and creation of tokens need to be as easy as possible, so builders can focus on their product and not have to worry about security or custody.

IOTA joins other leading blockchain networks that have announced similar integrations with Fireblocks to cater to the institutional audience. Three weeks ago, Chainlink teamed up with Fireblocks to focus on the transfer and management of stablecoins, as we reported.

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Source:  Crypto News Flash

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Seeds of Wisdom RV and Economic Updates Tuesday Evening 10-8-24

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SOUTH KOREA PLANS TO REGULATE CROSS-BORDER STABLECOIN TRANSACTIONS

South Korea’s Financial Services Commission plans to consult with other jurisdictions, including Japan and the EU, on stablecoin rules.  

South Korea’s government plans to apply foreign exchange rules to cross-border transactions involving dollar-pegged stablecoins.

On Oct. 8, the country’s Ministry of Economy and Finance reportedly announced that it was reviewing measures to ensure the soundness of stablecoin transactions.

The government agency said that apart from being used to transact and exchange within the crypto ecosystem, stablecoins are also used in cross-border transactions. This means that stablecoin’s functions expand to global transfers, which may require different rules.

Consulting with other jurisdictions
Furthermore, the Financial Services Commission (FSS), South Korea’s top financial regulator, will prioritize and discuss stablecoins in the second legislative stage of the country’s Virtual Asset User Protection Act.

The FSS reportedly plans to consult with other regulators in international jurisdictions, including Japan and the European Union. Despite the statement, the government agency did not provide a specific consultation timeline.

Stablecoin regulations will also reportedly begin with a system for issuing won-pegged tokens. This means a legal system for stablecoins pegged to South Korea’s won fiat currency will first be established and then applied to foreign currency stablecoins.

The Japanese government issued rules on stablecoins after the Terra collapse in 2022. On June 3, 2022, Japan banned stablecoin issuance by non-banking institutions. However, it lifted the ban in 2023.

Meanwhile, the EU’s Markets in Crypto-Assets Regulation came into force in June, leading crypto exchanges to delist non-compliant stablecoins.

South Korea tightens crypto regulations
South Korea recently tightened its measures by enforcing laws to protect crypto users. On July 19, its Virtual Asset Protection Act came into effect, compelling virtual asset service providers (VASPs) in the country to maintain stricter rules to protect user assets.

The laws require VASPs to take out insurance against hacks and malicious attacks. They also mandate that providers keep user assets separate from exchange tokens while keeping customer deposits in banks. The law also includes regularly reviewing token listings on exchanges.

The South Korean government will also impose severe punishments on violators. This includes jail sentences and fines of three to five times the amount of illegally acquired profits.

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Source:  CoinTelegraph

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CANARY CAPITAL FILES FOR A SPOT XRP EXCHANGE-TRADED FUND WITH THE SEC

▪️Canary Capital’s move comes after Bitwise filed its S-1 registration statement last week.
▪️Canary Capital founder Steven McClurg said the firm is seeing “encouraging signs of a more progressive regulatory environment coupled with growing demand.”

Crypto investment firm Canary Capital filed a registration statement with the U.S. Securities and Exchange Commission for a spot  XRP exchange-traded fund, marking the second firm vying for that product this month.

The Canary XRP ETF gives investors "the opportunity to access the market for XRP through a traditional brokerage account without the potential barriers to entry or risks involved with acquiring and holding XRP directly," the firm said in an S-1 registration statement filed on Tuesday. A custodian or administrator is not yet named for the ETF.

"We're seeing encouraging signs of a more progressive regulatory environment coupled with growing demand from investors for sophisticated access to cryptocurrencies beyond Bitcoin and Ethereum–specifically investors seeking access to enterprise-grade blockchain solutions and their native tokens such as XRP," said Canary Capital founder Steven McClurg in a statement.

McClurg also previously founded Valkyrie Funds, which has other spot crypto ETFs.

Canary Capital's move comes after Bitwise filed its S-1 registration statement last week. A spot XRP ETF has not been approved by the SEC before, and if it does, it could face challenges. The SEC has been embroiled in a legal fight with Ripple after the agency accused the company of raising $1.3 billion through the sale of XRP, which it views as an unregistered security.

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Source:  The Block

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BRAZILIAN CBDC DREX ENVISIONED TO REPLACE CURRENT TRANSACTION SYSTEM

Fabio Araujo, the coordinator of Drex, the Brazilian CBDC, envisions this network substituting the current national transaction system and moving all the funds currently settled by the Reserve Transfer System. However, he stated that this would take some time, as the cost of this migration would be significant.

Drex Coordinator Envisions Total Substitution Of Traditional Transaction Systems for Blockchain
While the current central bank digital currencies (CBDC) are commonly considered a complement to fiat currencies and conventional electronic money, some countries are eyeing the total substitution of their systems for these tools. Fabio Araujo, coordinator of Drex, the Brazilian CBDC pilot, envisions this happening at one time in the country.

While Drex is in the second phase of its pilot, Araujo believes that the technology behind it might grow to substitute the Reserve Transfer System (STR).

According to the Central Bank, the STR is considered the backbone of the Brazilian financial system, handling the settlements of monetary, foreign exchange, and capital markets, among institutions that manage accounts with the bank.

Araujo stated:

All transactions would be made within this environment. As this technology advances, all business would be done within it.

However, Araujo acknowledged this process should not be immediate, as the migration from one technology to another includes significant costs for the institution.

“I hope it takes time, because migrating the internet to blockchain is costly,” he stressed. In 2023, STR settled the equivalent of the Brazilian gross domestic product (GDP) each 2.2 days.

While this migration would also highlight the need for new regulations to deal with the new system’s processes, Araujo recognized that at first, no regulation would be issued given that it would be a new technology applied to the existent environment.

At the same time, Araujo stated that this system would not have a direct connection with the real estate records, as the bank is not interested in taking over these operations. The Drex’s objectives would be to manage and ease financial settlements only.

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Source:  Bitcoin News  

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BRAZIL TO REVIEW ELON MUSK’S X BAN AFTER $5M FINE PAYMENT

Social media platform X could soon be restored in Brazil after paying fines, appointing a new legal representative and blocking certain user accounts at the court’s request.

Brazilian authorities could soon lift the ban on Elon Musk’s social media platform X after the company paid 28.6 million Brazilian reais (approximately $5.5 million) in fines.

According to local media reports, on Oct. 7 X cleared the latest requirement on its path to returning online. In late August, Brazil’s Supreme Federal Court suspended X for failing to comply with orders related to an investigation into the spread of misinformation in the country.

The final payment was confirmed after a series of unusual events. On Oct. 4, the funds related to the penalties imposed by Justice Alexandre de Moraes for irregularities on the social network were mistakenly deposited into the wrong bank account. Last Monday, the proceeds paid by Musk’s satellite company, Starlink, were transferred to the correct account.

The amount included the original fine for X’s lack of cooperation in court investigations and an additional 10 million Brazilian reais (about $1.9 million) for not complying with the suspension after a shift to Cloudflare’s servers unintentionally allowed some users to access the platform in September.

In the previous days, X also appointed a new legal representative in the country, as required by local regulations, and blocked the accounts of users accused of spreading fake news and misinformation about Brazil’s electoral processes and justice system.

The platform’s return to users in the country now rests with Brazil’s Attorney General, who will recommend whether or not the suspension of X in Brazil should be lifted. If X return is approved, Justice Moraes will once again review the case and issue his decision.

Justice Moraes has been investigating X since 2023 for allegedly promoting and enabling the spread of misinformation in Brazil. Musk is also under investigation for charges including obstruction of justice, involvement in a criminal organization, and incitement to crime.

The billionaire has publicly criticized Moraes’ actions, labeling them politically motivated censorship. He has accused the judge of behaving like a “dictator” by targeting political opponents through what he claims are unlawful demands for content moderation.

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Source:  CoinTelegraph

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