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News, Rumors and Opinions Friday AM 10-25-2024
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Fri. 25 Oct. 2024
Compiled Fri. 25 Oct. 2024 12:01 am EST by Judy Byington
Judy Note: Black Swan Events Pending: Massive Cyber Attack, Global Financial Collapse happening now. Banks were closing, markets were down and Bitcoin has stopped trading.
BRICS nations were meeting right now in Russia to end the fiat US Dollar, though it had already been rejected for international trade.
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. 25 Oct. 2024
Compiled Fri. 25 Oct. 2024 12:01 am EST by Judy Byington
Judy Note: Black Swan Events Pending: Massive Cyber Attack, Global Financial Collapse happening now. Banks were closing, markets were down and Bitcoin has stopped trading.
BRICS nations were meeting right now in Russia to end the fiat US Dollar, though it had already been rejected for international trade.
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Global Currency Reset:
Thus. 24 Oct. 2024 Bruce:
Some bond holders set up their accounts and were told they would be liquid in 1-2 days.
The Dinar front screen rate was on the Forex today.
You want to set your appointment for the Redemption Center, not a bank, as they can give you the higher rates and the Contract Rate on the Dinar.
So first of all the information we are getting about T4B is based on us being notified not Thursday but Friday tomorrow and exchanges over the weekend. So we just have to go day by day we are super close and
Bruce does believe that we’ll get this THIS WEEKEND.
And exchanges generally 30 minutes or less. Do your mini presentation – just 3-5 minutes and we know just need to pray for this to happen over the weekend.
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Thurs. 24 Oct. 2024 MarkZ: On the bond front, “I don’t know how far I can share what I know, but that certainly makes me feel very comfortable”…. “The Emergency Broadcasting System (EBS) is very likely to be put into action this weekend. And a deadline is being handled for the start of payments. It is not to be taken as solid or definitive news, but November 6 is being talked about as a deadline, it would have to come out earlier. Don’t take it as something definitive. Big news coming out of the BRICS meeting in Kazan, Russia. The global financial system has already changed. Everything coming out of that meeting is extremely exciting for what we are looking forward to.”
Thurs. 24 Oct. 2024 Wolverine. “I want you to get ready. That’s all I have to say.”
Thurs. 24 Oct. 2024: BREAKING! Putin Unveils BRICS Currency to Unlock Trillions in GESARA Wealth! U.S. Dollar Collapse Imminent as the Fiat System Crumbles—Global Financial Liberation Has Begun! – Gazetteller
Thurs. 24 Oct. 2024: BOOOM!!! The BRICS Currency Note Presented to Putin: The BRICS Currency Note A Revolution in Motion – amg-news.com – American Media Group
Thurs 24 Oct. 2024: BOOOOM!!! The BRICS Currency Note: A Game-Changer in the Global Financial Arena! …G***o TV on Telegram https://amg-news.com/booom-the-brics-currency-note-presented-to-putin-the-brics-currency-note-a-revolution-in-motion/#
The day has come. The BRICS nations—Brazil, Russia, India, China, and South Africa—are no longer satisfied with living in the shadow of the U.S. Dollar. They’ve dropped the bombshell that could obliterate the American financial system as we know it—a BRICS Currency Note! Although it’s not in circulation yet, its mere existence sends a clear message: the BRICS countries are flipping the script on the global financial stage.
The BRICS Currency Note—A Revolution in Motion! The world woke up to a shockwave when the BRICS Currency Note was revealed. This bold move could be the beginning of a financial revolution. For decades, the U.S. Dollar has held the world in its grip, dictating the terms of global trade, finance, and politics. But now, with the emergence of a BRICS currency, the tides may be turning for good.
The BRICS note symbolizes a defiant stand against the U.S.-dominated financial system. Vladamir Putin has taken the reins of this movement, signaling that these nations are ready to break free from the suffocating control of the American financial empire.
What Does This Mean for the World? This is more than just currency. It’s a direct challenge to the U.S. dominance. By proposing this currency, the BRICS nations are creating a new financial ecosystem. No longer will they be at the mercy of a single country and its weaponized financial system.
The Rise of the BRICS Currency: A Defiant Response to U.S. Control. For too long, the U.S. Dollar has been used as a financial weapon, enforcing sanctions and manipulating countries that oppose American interests. The BRICS nations have had enough. They’re not just talking about change—they’re making it happen. This currency will weaken America’s ability to control the global economy.
The BRICS Currency Note—whether it’s in your hands now or not—signals that the world is ready to move on. The U.S. financial grip is crumbling, and this is just the beginning of a new era where nations will no longer be dictated to by U.S. interests.
A Move for Financial Independence: This BRICS currency is a symbol of economic sovereignty. The 100 BRICS Note that has emerged is a powerful statement—these nations are no longer bowing to the demands of the U.S.-controlled system. They are taking charge of their economic destiny and shattering the chains that have bound them to the American financial order.
Implications for the Global Financial Order: The End of U.S. Dominance? The introduction of this currency could send shockwaves through the global financial system. It’s not just about economics—it’s about seismic political shifts that could spell the end of U.S. Dollar dominance. The U.S. has used its financial power to project control over the world for decades. But with the BRICS currency in play, that era is over.
A Defiant Response to U.S. Sanctions: Sanctions have been a go-to weapon for the U.S., but the BRICS nations are done playing along. With their own currency in hand, they can circumvent American financial institutions and reclaim their power.
The unveiling of the BRICS Currency Note is more than just an economic maneuver—it’s a direct challenge to the global order. The U.S. stranglehold on the world economy is crumbling as these nations rise up and take control.
Conclusion: The Beginning of the End? The BRICS Currency Note could be the start of the end for the U.S. Dollar’s reign. As this revolution unfolds, we are witnessing a monumental shift in power—one where the U.S. no longer holds the ultimate financial weapon
Read full post here: https://dinarchronicles.com/2024/10/25/restored-republic-via-a-gcr-update-as-of-october-25-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Mnt Goat Article: "I WANT TO SPREAD AWARENESS ABOUT ELECTRONIC PAYMENT? READY TO USE IT?” ...we read from this article that ONLY now are the banks finally issuing these debit cards that can be used globally, such as in the U.S...Yes, they are finally being released...Yes, it is time for them now...the rate is determined at the bank, when the transaction goes through at the bank when the card is used...NO rate on the card...The rate is controlled by the currency exchange or the CBI (official rate) whichever one they are linked to.
SkyWalker An objective of the [delete the zeros] project is simply collecting three zero notes and replacing them with lower denomination notes. It serves two purposes (1). removes the three zero printed on the notes which increases the nominal value on the note itself (2). through supply and demand the value of the currency can be manipulated by the CBI. Therefore, nominal value is first increased in country and (REER) will allow the dinar to have value outside the country.
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South Africa's BRICS Closing Speech Shocks the World | Reveals Plans to Punish Israel!
We Love Africa: 10-24-2024
The BRICS Summit comes to an end in Kazan on October 24.
More than 20 world leaders and over 30 delegations gather for the 16th BRICS Summit, set to be one of the major economic, political and cultural events of the decade, hosted by Russia in the beautiful city of Kazan.
The past year has seen BRICS grow in both size and influence to nearly half the world’s population and a third of the global economy.
An BRICS Plus/outreach format is also taking place, with world leaders and heads of the Eurasian Economic Union, Commonwealth of Independent States and the Shanghai Co-operation Organisation, among many others.
The leaders of Russia, China, India and South Africa are among those who have confirmed their participation.
“Tidbits From TNT” Friday Morning 10-25-2024
TNT:
Tishwash: Waiting to be sent.. Oil and Gas Law on the Government Discussion Table
Member of the Parliamentary Oil, Gas and Resources Committee, Kazem Al-Tawki, confirmed today, Thursday, that the draft oil and gas law is awaiting approval within the Council of Ministers, indicating that the joint committees between the federal government and the regional government are continuing their work to decide on the law.
Al-Tawki told Al-Maalouma Agency, “There are controversial articles that hinder sending the draft oil and gas law to the House of Representatives,” noting that “the draft is still in the government’s possession.”
He added that "the oil and gas law is still on the government's discussion table," noting that "the relevant committees are continuing their meetings in the hope of reaching an agreement on the controversial articles."
TNT:
Tishwash: Waiting to be sent.. Oil and Gas Law on the Government Discussion Table
Member of the Parliamentary Oil, Gas and Resources Committee, Kazem Al-Tawki, confirmed today, Thursday, that the draft oil and gas law is awaiting approval within the Council of Ministers, indicating that the joint committees between the federal government and the regional government are continuing their work to decide on the law.
Al-Tawki told Al-Maalouma Agency, “There are controversial articles that hinder sending the draft oil and gas law to the House of Representatives,” noting that “the draft is still in the government’s possession.”
He added that "the oil and gas law is still on the government's discussion table," noting that "the relevant committees are continuing their meetings in the hope of reaching an agreement on the controversial articles."
He stressed that "there is a common vision between the governments of Baghdad and the region to complete the oil and gas law file and send it to the House of Representatives." link
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Tishwash: China's Rise in Iraq's Energy Sector: From Newcomer to Dominant Player
While Iraqi leaders consistently emphasize the importance of Western investment in their energy sector, their actions instead are increasing Iraq’s dependence on Chinese markets and oil firms.
Executive Summary
Chinese energy companies emerged as dominant players in the Iraqi Oil Ministry’s May licensing rounds to auction 29 oil and gas blocks, securing 10 out of 13 oil and gas blocks. Shell was the only Western international oil company to participate, and it did not win any bids. Other Western and U.S. international oil companies showed no interest in bidding, despite improved fiscal terms of the contracts.
The resounding success of Chinese firms underscores a significant shift, solidifying Beijing’s already strong position in Iraq’s energy landscape and presenting a substantial challenge to Washington’s strategic position in the region.
The increasing Chinese dominance comes amid a seemingly contradictory development: In April, Iraqi Prime Minister Mohammed al-Sudani signed numerous memorandums of understanding with U.S. energy companies, particularly focusing on gas development and power generation. This focus aligns with Washington’s strategic goals of diminishing Iran’s political influence in Iraq and, by extension, blunting China’s push to dominate Iraq’s hydrocarbon sector.
The stark contrast between the memorandums of understanding signed by U.S. companies and the contracts awarded to China demonstrates a significant mismatch between the aspirations of Washington and the realities of the investment environment in Iraq. link
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Tishwash: MP: The 2025 budget cannot be passed without sending the final accounts for the past two years
The Parliamentary Finance Committee announced the date for the arrival of the 2025 budget tables to the House of Representatives, which will be at the beginning of next year.
In turn, the Ministry of Finance indicated the possibility of collecting 3 trillion dinars per month during the coming period, and that the Finance Committee called on the government to enhance non-oil revenues and ensure the achievement of financial targets to avoid any economic imbalances.
In the same context, member of the Economy, Industry and Trade Committee Yasser Al-Husseini confirmed that it is not possible to approve the 2025 budget without obtaining final accounts for the previous budgets.
Al-Husseini told Iraq Observer that “it is not possible for the Council to approve any measure coming from the government,” noting that “the current government differs from previous governments because one of its most prominent goals is to improve the current economic reality by fighting corruption in any form and under any circumstances.”
He added that "Parliament is waiting for the final accounts of the 2023 and 2024 budgets to be sent, after which the 2025 budget will be considered for approval," noting that "if a budget is submitted to the House of Representatives without the final accounts, this is considered an aspect of corruption, so the House of Representatives refuses to receive a budget without the final accounts tables for the past two years."
He continued that "the committee is closely following up on how the budget funds are distributed, to ensure that they are used effectively to serve citizens and enhance the national economy, and ways to increase government revenues by developing the tax and customs system will be discussed from time to time." link
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Tishwash: Establishment of the “Iraqi Money Changers Syndicate” in Baghdad.. and Al-Taie as its President
In a move that is the first of its kind in Iraq, the establishment of the “Iraqi Money Changers Syndicate” was announced today, Wednesday, and the election of Diaa Al-Taie as its president, to lift the injustice against the owners of money exchange offices and companies and secure their rights.
The “Jarida” platform attended the founding conference of the union at the “Mansour Melia” Hotel in central Baghdad, which was held by a group of owners of exchange offices and financial companies, and attended by a number of parliamentarians, including the head of the Parliament’s Investment Committee, Hassan Al-Khafaji, and a member of the Finance Committee, Hussein Mounes, in addition to businessmen.
The election of Diaa Al-Taie as the head of the Iraqi Money Changers Syndicate took place in a clear and fair manner in front of those present, in a step that is the first of its kind to bring together most of the companies and money changers in a syndicate to present ideas, communicate with each other, and crystallize their positions with the Iraqi government.
This is what Al-Taie emphasized, that the establishment step had been under study for some time, and today this idea has matured and crystallized with the establishment of the “Iraqi Money Changers Syndicate.”
The attending representatives, most notably Hassan Al-Khafaji and Hussein Mounes, supported the idea of establishing it in a speech they delivered during the conference, indicating that the parliamentary committees support this legal regulatory path, stressing that this step is important for direct communication through legal paths with the Central Bank of Iraq, Iraqi banks, and those concerned from exchange companies to deal with each other regarding the local market.
The representatives promised to communicate and support this idea, which will open broad horizons between the Iraqi government and the private sector, which includes exchange companies represented by the “Iraqi Exchange Union.” link
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Mot: In Case ur Ever Wondering Found Waldo
Mot: Ah Hah !!!! Found Out What Happened to Frosty................
Seeds of Wisdom RV and Economic Updates Thursday Evening 10-24-24
Good Evening Dinar Recaps,
SEC OUTLINES CRITERIA FOR SAB 121 DIGITAL ASSET CUSTODY EXEMPTIONS
More than two years ago, the SEC published accounting guidance, SAB 121, regarding how listed companies should disclose crypto-assets held on behalf of clients, requiring the assets to be counted on the balance sheet. This particularly affects banks because regulations on capital requirements are based on the contents of the balance sheet.
After both the House and Senate voted to overturn SAB 121, President Biden used his veto so that SAB 121 still stands. However, there has been some softening in the SEC’s stance, with the world’s largest custodian BNY receiving a specific exemption to custody assets for a crypto ETF. However, BNY and other banks have to apply for exemptions on a case by case basis.
Good Evening Dinar Recaps,
SEC OUTLINES CRITERIA FOR SAB 121 DIGITAL ASSET CUSTODY EXEMPTIONS
More than two years ago, the SEC published accounting guidance, SAB 121, regarding how listed companies should disclose crypto-assets held on behalf of clients, requiring the assets to be counted on the balance sheet. This particularly affects banks because regulations on capital requirements are based on the contents of the balance sheet.
After both the House and Senate voted to overturn SAB 121, President Biden used his veto so that SAB 121 still stands. However, there has been some softening in the SEC’s stance, with the world’s largest custodian BNY receiving a specific exemption to custody assets for a crypto ETF. However, BNY and other banks have to apply for exemptions on a case by case basis.
A September speech by SEC Chief Accountant Paul Minter reveals the significant work required in order to achieve such exemptions. Ideally custodians should build crypto experience slowly with low volumes. But the processes required for the SAB 121 exemption means that only the largest opportunities will be worthwhile pursuing.
The rationale behind SAB 121 was that if the custodian lost control of the private keys, the assets they control might be hard to recover and could result in a claim on the custodian.
How banks, broker-dealers get SAB 121 exemptions
Mr Minter gave the example of a bank that had engaged on the topic both with the prudential regulator at the state level and its primary federal prudential regulator. Since 2022, banks are required to notify their regulator in advance of engaging with crypto-assets.
The bank had systems in place to safeguard private keys. Additionally, it ensured that its custody structure is bankruptcy remote, as confirmed by a lawyer, and its contracts with client institutions preclude re-hypothecation of the crypto-assets.
The same contracts explicitly excluded liability for blockchain-specific risks. Finally, the bank had risk management processes in place for each specific crypto-asset that it safeguards.
The Chief Accountant also gave the example of broker-dealers, where a third party provides transaction execution and custody. An exemption to SAB 121 is likely to apply where the broker-dealer is just the introducer, doesn’t have the private keys, and the custodian third party is clearly the agent of the customer, rather than the broker-dealer.
He provided a list of points he’d want to see as confirmation, including contracts and evidence of the client having a direct relationship with the third party. The broker-dealer would also have to get a legal opinion reinforcing that the broker-dealer is not the customer’s agent.
SAB 121 remains questionable
Meanwhile, apart from the unorthodox accounting treatment required by SAB 121, and blocking banks from engaging with crypto-assets until now, in some ways SAB 121 has made it less safe for crypto-asset clients.
The largest custodians are each responsible for trillions in conventional assets, and have the headcount, experience and processes that are more likely to provide safeguards against hackers.
Yet startups are currently the primary providers of crypto custody, particularly Coinbase for ETFs. That sort of concentration is usually something regulators are not keen on.
Plus, depending on agreements, assets under custody are conventionally treated as belonging to the client. By including them on the balance sheet, this implies the assets belong to the company, which could be bad news for clients if the custodian goes bankrupt.
We’re also reminded of a thought provoking paper by Duke University’s Steven Schwarcz on fintech regulation. He made an interesting observation that one regulatory option is to have the financial equivalent of the FDA in which all fintech innovations would need approval in advance.
He dismisses this as an innovation killer. If you look at U.S. banks in the context of crypto-assets and crypto custody, they effectively have several FDAs – their own prudential regulators (plural) plus the SEC for SAB 121.
@ Newshounds News™
Source: Ledger Insights
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🌱SWIFT & MBRIDGE: THE FUTURE OF CROSS-BORDER PAYMENTS? | Youtube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
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More News, Rumors and Opinions Thursday PM 10-24-2024
KTFA:
Clare: Adam Smith International assists with Iraq Budget Prep
23rd October 2024 By John Lee
The Iraqi government has started discussions on the structure of the 2025 budget, with expectations for its submission to Parliament early next year, according to Atwan Al-Atwani, head of the Parliamentary Finance Committee.
State-run Iraqi News Agency (INA) says Al-Atwani hosted a delegation from Adam Smith International to discuss public financial management reforms, including tax, customs, public debt, and development fund sectors. Key financial challenges, particularly the oil revenue dependency, were highlighted, as well as ongoing efforts to boost non-oil revenues through legal reforms.
KTFA:
Clare: Adam Smith International assists with Iraq Budget Prep
23rd October 2024 By John Lee
The Iraqi government has started discussions on the structure of the 2025 budget, with expectations for its submission to Parliament early next year, according to Atwan Al-Atwani, head of the Parliamentary Finance Committee.
State-run Iraqi News Agency (INA) says Al-Atwani hosted a delegation from Adam Smith International to discuss public financial management reforms, including tax, customs, public debt, and development fund sectors. Key financial challenges, particularly the oil revenue dependency, were highlighted, as well as ongoing efforts to boost non-oil revenues through legal reforms.
A major issue remains the oil dispute with the Kurdistan region, which the committee is actively working to resolve through dialogue. Al-Atwani also indicated that reforms are underway, including amendments to the General Authority for Monitoring Federal Revenue Allocations Law and new proposals related to Islamic bonds and financial market regulations. LINK
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Clare: Waiting to be sent.. Oil and Gas Law on the Government Discussion Table
10/24/2024 Baghdad..
Member of the Parliamentary Oil, Gas and Resources Committee, Kazem Al-Tawki, confirmed today, Thursday, that the draft oil and gas law is awaiting approval within the Council of Ministers, indicating that the joint committees between the federal government and the regional government are continuing their work to decide on the law.
Al-Tawki told Al-Maalouma Agency, “There are controversial articles that hinder sending the draft oil and gas law to the House of Representatives,” noting that “the draft is still in the government’s possession.”
He added that “the oil and gas law is still on the government’s discussion table,” noting that “the relevant committees are continuing their meetings in the hope of reaching an agreement on the controversial articles.”
He stressed that “there is a common vision between the governments of Baghdad and the region to complete the oil and gas law file and send it to the House of Representatives.”
almaalomah.me
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man I'm surprised we to date have yet to see Alaq at a podium telling everybody and the people their new Real Effective Exchange Rate they can be proud of. He has not done that yet. Is that an expectation? I think so. I think it really should be expected.
Walkingstick Sudani is slowly allowing banks to be relicensed again but he's bringing in these currency exchange centers as well. When he relicenses a bank, he will have full control of that bank. When he brings in these money exchange centers/banks he will have full control of them also. Sudani and the CBI watch every process of the monetary reform... They will be giving a percentage to these centers and banks of the volume they will be bringing in. It is a symbiotic relationship where they will both benefit...
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BRICS 2024: BRICS Blockchain, New Financial System & Currency, Expansion, mBRIDGE | Y. Lissovolik
Lena Petrova: 10-24-2024
Russia Announce NEW BRICS Clearing System in BRICS summit: End of Dollar and IMF?
Fastepo: 10-24-2024
Seeds of Wisdom RV and Economic Updates Thursday Afternoon 10-24-24
Good afternoon Dinar Recaps,
INTERVIEW WITH CARDANO’S CHARLES HOSKINSON: FOUNDER DISCUSSES RECENT ETHEREUM REMARKS AND INVOLVEMENT WITH ARGENTINA
▪️Cardano co-founder Charles Hoskinson has clarified his earlier remark on Ethereum and Vitalik Buterin as he projects Bitcoin to reach between $200k and $300k by next year.
▪️According to him, Argentina’s attraction to several crypto projects stems from the desire to find an alternative to the local currency.
Good Afternoon Dinar Recaps,
INTERVIEW WITH CARDANO’S CHARLES HOSKINSON: FOUNDER DISCUSSES RECENT ETHEREUM REMARKS AND INVOLVEMENT WITH ARGENTINA
▪️Cardano co-founder Charles Hoskinson has clarified his earlier remark on Ethereum and Vitalik Buterin as he projects Bitcoin to reach between $200k and $300k by next year.
▪️According to him, Argentina’s attraction to several crypto projects stems from the desire to find an alternative to the local currency.
CNF recently reported that Cardano (ADA) co-founder Charles Hoskinson has labeled Ethereum as a “dictator” that solely relies on its co-founder Vitalik Buterin for direction.
In his presentation at the Token2049 event in Singapore, Hoskinson explained that the entire roadmap of Ethereum is within the control of Buterin. In this case, the project would be vague and visionless if the 30-year-old is removed from the bracket.
The Dictatorship Nature of Ethereum
During an interview with news outlet Ámbito, Hoskinson was asked if he is on bad terms with Buterin or if his statement only referred to the direction of Ethereum.
Responding to this, the Cardano co-founder explained that his expression of “dictator” in his previous presentation was just to put a complex discussion or word into a simple phrase.
According to him, his use of that word was just to imply that Buterin runs Ethereum in an authoritarian manner. In other words, holders of Ethereum and Bitcoin have no say in the direction of the protocol. Per his observation, disagreement with Buterin’s decision would likely arise once the governance model becomes unsustainable.
Ethereum could end up like Bitcoin, where innovation stagnates, or it will need to adopt a more inclusive governance model. Although Vitalik has shown resistance to on-chain governance, he seems to be acknowledging that this stance can be problematic. Most modern blockchain projects, like Cardano, are exploring on-chain governance models.
Why Argentina Attracts Several Crypto Big Players
In the interview, Hoskinson pointed out the growing distrust in the local currencies, forcing individuals to seek alternatives to hedge against inflation. According to him, Argentina is embracing crypto and aggressively learning yield farming, metaverse, and GameFi. Per his observation, this trend would continue as long as the local currency faces higher inflation, capital control, and trade barriers.
In addition to that, he explained that Argentina has emerged as a favorable market to test its products like wallet software, identity software, and microfinance platforms.
On top of that, he believes that Argentina is the best place to hire people as the first developers working on Cardano in 2016 were from Buenos Aires.
Difference Between Blockchain and Liberalism
According to Hoskinson, the vision of Argentina’s president Javier Milei, such as the concept of private and sound currencies, aligns with that of the industry. However, liberalism has a challenge of implementation. Meanwhile, blockchain presents itself as a third way that belongs to neither government nor private industry.
Sometimes it behaves like a government entity, and other times, like a private actor. This makes it an ideal solution for issues such as voting systems, national identification, or the functions of a central bank. I believe that as Milei deepens his knowledge in that field, he will recognize three key points:
first, that Blockchain is highly compatible with his philosophy;
second, that Argentina is already a global leader in cryptocurrencies; and
third, that the country has enormous local talent to drive and execute these initiatives.
Concluding the interview with a Bitcoin projection, Hoskinson estimated that the involvement of BlackRock in the asset could push BTC to between $200,000 and $300,000 next year.
@ Newshounds News™
Source: Crypto News Flash
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VISA SEES THE ‘STABLECOIN SANDWICH’ AS PATH TO STABLECOINS GOING MAINSTREAM
While stablecoins offer cheap and fast cross border payments, their usability drawbacks have prevented them from going mainstream, until now. Visa’s Cuy Sheffield said it’s no longer always obvious to the user when stablecoins are being used for payments.
He referred to the so-called ‘stablecoin sandwich’ where someone makes a conventional payment, and the payment service provider sends stablecoins to the destination. The stablecoin is then converted to the local currency with the last mile sent via the local real time payment system.
“If you used a stablecoin a year ago, it was very explicit,” said Mr Sheffield, during a DC Fintech Week panel. “You knew you were using a stablecoin. You usually had to seek out a crypto wallet, you had to figure out how to manage your private key. We’re starting to see both major fintechs, existing wallets like PayPal and others put frontend interfaces on it that just look like another fiat wallet. And so they use stablecoins on the backend.”
PayPal’s Jose Fernandez da Ponte noted that with cross border payments today, most bank customers don’t know much about correspondent banking or Swift. Stablecoins will evolve in a similar manner.
Mr Sheffield highlighted that for non-crypto users, the concept of making a payment in dollars then having to pay gas fees using the blockchain’s native token doesn’t make sense, and means the user has to get involved in crypto. Some of the new payment apps are starting to abstract away these gas fees.
With a move into mainstream, there’s a need for consumer protection.
Stablecoin risks and consumer protection
Mr Sheffield raised the need for standards to reduce consumer risk. Where tokens don’t comply with the standards, they shouldn’t be allowed to be called stablecoins.
“If you can compare two products that are marketed to consumers as stablecoins, they could be entirely different around: is there a fiat asset behind it? If so, where are those reserves held? What audits or attestations are done?
So I think it’s a really challenging environment for consumers if you’re being offered a stablecoin to have to go under the hood and do due diligence,” said Mr Sheffield.
Anna Yuan, formerly with Solana and now the founder of Perena, believes the crypto world now distinguishes between stablecoins as narrow banking-style tokens, versus asset referenced tokens that peg to a currency with reserves in assets such as crypto, trade finance or something else.
“Those should not be considered for daily average consumer use cases. Those are for the crypto bros,” she said. That would include mutli billion dollar coins such as the DAI and Ethena.
Stablecoin sandwiches and the current regulatory status carry risks. Today, many stablecoin holders are choosing to custody their own stablecoins, particularly in emerging markets. To abstract away blockchain gas costs, most apps take on the role of custodian. The users also don’t know which stablecoins they own and not all stablecoins are equal. Many of these app providers are not licensed.
“That means your assets are no longer yours. And why would you use that when you could use a trusted entity like PayPal to custody your assets,” she said. She’s concerned that bad experiences “could really hurt people’s perceptions of stablecoin sandwiches in the long run.” Ms Yuan also emphasized that it’s important not to do away with self custody for those that want it.
Banks and stablecoins
Meanwhile, Mr Sheffield said Visa spends a lot of time exploring what role banks are going to play. Until now stablecoins were not issued by banks, but a number of large banks are now getting involved. He referred to Societe Generale Forge and its EURCV stablecoin. Plus, Visa recently announced its helping BBVA explore stablecoins.
@ Newshounds News™
Source: Ledger Insights
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Key points of the Putin's speech at the plenary session of the 16th #BRICS2024 Summit in the outreach format:
🔹Ukraine
🟠Ukraine is being used to create critical security threats to Russia;
🟠Those who want to inflict strategic defeat on Russia do not know the history of the country; these are illusory calculations.
🔹The Middle East
🟠The situation in the Middle East is worrying, as it involves the exacerbation of a long-standing conflict;
🟠Russia consistently opposes any form of terrorist actions;
🟠The escalation of the conflict in the Middle East brings the region to the brink of full-scale war;
🟠Russia seeks to contribute to the stabilization of the situation in the Middle East;
🟠Putin called for an end to violence in the Middle East;
🟠A settlement in the Middle East must be achieved based on universally recognized global principles;
🟠It is impossible to restore peace in the region without rectifying the historical injustice in the Palestinian territories;
🟠The launch of a comprehensive political process is necessary for a settlement in the Middle East;
🟠All BRICS countries are concerned about the situation in Gaza and hope that all options will be used to reduce tensions.
🔹BRICS Plus outreach
🟠The BRICS Plus outreach format has proven itself well, allowing for direct and open dialogue;
🟠As chair, Russia invited the leaders of neighboring countries and partners wanting to join BRICS to the BRICS Plus meeting;
🟠At the BRICS Plus session, Putin invited all interested countries to develop the "North-South" corridor and the Northern Sea Route.
🔹Global politics, UN, and financial mechanisms
🟠The transition to a fair world order is challenging, and some are trying to hinder this process;
🟠The UN is called upon to continue playing a central role in ensuring peace and security;
🟠The representation of African countries, whose leaders gathered at the BRICS summit, should be expanded in the UN Security Council;
🟠Reforming UN development institutions and global financial structures has long been overdue;
🟠The next wave of global economic growth is emerging in the countries of the global majority;
🟠It is necessary to build alternative financial mechanisms free from any diktat;
🟠Putin called for ensuring access for countries in the Global South and East to technologies and helping them adapt to climate change;
🟠Russia is making a significant contribution to ensuring global food and energy security.
@ Newshounds News™
Source: Gipper's News Reader
~~~~~~~~~
🌱WHY BRICS IS SHAPING THE FUTURE | Youtube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
~~~~~~~~~
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The Dirty, Four-Letter Word That Keeps the Lights On
The Dirty, Four-Letter Word That Keeps the Lights On
Notes From the Field By James Hickman (Simon Black) October 24, 2024
There’s a really dirty four-letter word that starts with a “C”. No, not that one. This is a word you simply cannot say around Greta Thunberg, otherwise her ears will melt off of her face.
I’m talking about coal. And it’s about to have its moment.
One reason is that global population grows each year, and every one of them needs energy in some way or another—to keep the lights on, to fuel the machines that harvest their food, to power virtually everything that keeps life going.
The Dirty, Four-Letter Word That Keeps the Lights On
Notes From the Field By James Hickman (Simon Black) October 24, 2024
There’s a really dirty four-letter word that starts with a “C”. No, not that one. This is a word you simply cannot say around Greta Thunberg, otherwise her ears will melt off of her face.
I’m talking about coal. And it’s about to have its moment.
One reason is that global population grows each year, and every one of them needs energy in some way or another—to keep the lights on, to fuel the machines that harvest their food, to power virtually everything that keeps life going.
Second, the world population generally becomes wealthier each year. Billions of people in China, India, and Southeast Asia are better off now than they were ten years ago. As economies develop, they consume more food, more goods, more electricity— and all of that requires more energy.
More efficient technology offsets some energy use, like switching from old-school incandescent light bulbs to LEDs.
But the general rule is that as energy becomes cheaper, people tend to use more of it, i.e. the world always finds a way to use that energy savings somewhere else.
Plus there are some technologies (AI, crypto mining) which, in aggregate, consume a ton of energy.
So overall global energy demand keeps rising.
Energy supply, on the other hand, is REALLY hard to come by. Exploring for oil, drilling, constructing power plants, building hydroelectric dams, wind turbines, etc. is capital-intensive, labor-intensive, resource-intensive, and very time-consuming.
Meanwhile, many sources of energy supply are dwindling.
Some major shale fields in the US, which were once the biggest source of growth in energy supply, have peaked.
But perhaps an even more significant obstacle to supply is how the government and hyperventilating, pearl-clutching leftists do everything they can to reduce supply.
These people who stop traffic, throw glitter bombs on priceless works of art, and deface public property, in their efforts to “Just Stop Oil” want to turn the clock back to 1750 on human civilization.
Plus there are fanatics with real political power— like California Governor Gavin Newsom— who insist on replacing conventional electrical plants with extremely inefficient wind and solar.
I like clean air and water as much as anyone, but wind and solar aren’t anywhere near as environmentally friendly as people claim. They require tons of dirty minerals and chemicals, and barely produce enough energy yield to offset the inputs.
This is why big technology companies (who are looking to power their massive AI electricity needs) are going all-in on nuclear power.
Nuclear is absolutely the power of the future. It’s clean. It’s safe. It’s absurdly efficient.
By comparison, a single kilogram of Uranium can produce as much electricity as an entire square kilometer of solar panels. The difference in energy yield is not even close.
Tech companies understand this... hence why Google, Amazon, Microsoft, etc. are investing billions in nuclear energy as the ultimate solution to power their electricity-hungry AI data centers.
But it takes time to build nuclear power plants. And the most advanced “small scale” nuclear reactors are still in development.
In the meantime, tech companies still need power. The world still needs power. Lots of it. And more every year.
We’ve already talked about how natural gas (especially US natural gas) is THE cheapest energy source on earth right now. In fact, at its current price of roughly $2.40, US natural gas is priced at the energy-equivalent of oil selling for $15 per barrel. That’s cheap.
But there’s another cheap, abundant energy source that is going to be extremely relevant in powering the world’s energy needs for the foreseeable future: coal.
Yes, it’s a very, very dirty word. Climate fanatics don’t want to hear it. But until the world builds sufficient nuclear energy infrastructure, there’s still a critical need for conventional fossil fuels. And that includes coal.
Like it or not, coal is still vital to energy infrastructure, accounting for more than a third of global electricity production. In fact, global coal consumption has consistently INCREASED over the past few decades despite the environmental backlash against it.
Coal is still an extremely efficient source of energy, compared to wind and solar. On an energy return basis, it’s about 6x more efficient than wind and solar— i.e. less energy input required per unit of output.
And if you think coal is dirty, then you should check out how environmentally damaging cobalt mines are (a key ingredient in solar batteries). Not to mention, most cobalt mines in Africa are teeming with child labor.
Coal power plants have the added benefit of being very quick any easy to build. That’s why China— in addition to investing heavily in nuclear power— is also still buying a lot of coal.
It’s also worth pointing out that coal is an essential ingredient in iron and steel production. So even though the leftists hate it, coal will likely remain a key resource in human civilization for the next few decades.
However, from an investment perspective, hardly anyone wants to touch coal. Investment funds are afraid of government blow-back and the wrath of the left... so they don’t invest in coal.
And for individual investors, coal is uncool and unpopular. Thanks Greta.
As a result, there are some coal companies out there making money hand over fist. They have a bright future with plenty of demand down the road. Yet their valuations are a total joke.
TO READ MORE: https://www.schiffsovereign.com/trends/the-dirty-four-letter-word-that-keeps-the-lights-on-151675/
Some BRICS News 10-24-2024
BRICS Summit 2024 Coverage of the main event: 30 New Members, Currency, and De-dollarization
Fastepo: 10-24-2024
Welcome to our coverage of the BRICS Summit 2024, day 2, taking place in the vibrant city of Kazan, Russia.
This summit brings together leaders from Brazil, Russia, India, China, South Africa, Iran, UAE, Egypt and Ethiopia as well as many non-members leaders to discuss key issues facing emerging economies and explore ways to enhance cooperation among member nations.
BRICS Summit 2024 Coverage of the main event: 30 New Members, Currency, and De-dollarization
Fastepo: 10-24-2024
Welcome to our coverage of the BRICS Summit 2024, day 2, taking place in the vibrant city of Kazan, Russia.
This summit brings together leaders from Brazil, Russia, India, China, South Africa, Iran, UAE, Egypt and Ethiopia as well as many non-members leaders to discuss key issues facing emerging economies and explore ways to enhance cooperation among member nations.
With a focus on sustainable development, economic collaboration, and addressing global challenges, the summit serves as a crucial platform for shaping the future of the BRICS alliance. In this video, we highlight the main events and key statements made by BRICS leaders up until the time of this publication.
Stay tuned as we summarize the latest developments and insights from this important gathering! Due to the ongoing event and limited editing time, please note that all footage in the video is random. Our primary focus has been on the content.
We will begin with the statement from the Russian President, followed by the Chinese President, the Indian Prime Minister, the representative from Brazil, the South African President, the Egyptian President, and finally, the Iranian President and the Prime Minister of Ethiopia.
U.S. economist: BRICS to form true multilateral world
CGTN: 10-24-2024
The first BRICS summit since the group expanded from five to 10 members is underway in Russia's Kazan, with the entire world watching how these nations embrace diversity while reaching consensus in the newly-expanded bloc.
In an exclusive interview with World Insight's Tian Wei, Columbia University Professor Jeffrey Sachs noted that BRICS is not only committed to deepening internal relations, but also to building strong ties with emerging economies, leading the way to the formation of a truly multipolar and multilateral world, though many challenges still remain.
As BRICS Confirms Anti-SWIFT Financial System, Major Bank Declares US Stocks Are Done
Sean Foo: 10-24-2024
As the BRICS summit concludes, we get more information on the BRICS plan to set up a competing financial system to challenge SWIFT. Here's what this will entail.
Meanwhile, US giant Goldman Sachs just declared US stocks would underperform for the next decade
. Timestamps & Chapters:
0:00 The De-Dollarization Plan
2:51 Anti-SWIFT Platform
5:40 Banking Giant Slams U.S. Stocks
8:11 Black Swan Collapse Risk
11:42 Global US Bond Sell-Off
“Tidbits From TNT” Thursday 10-24-2024
TNT:
Tishwash: Parliamentary Legal: Parliament will extend its legislative term to complete important laws
The Parliamentary Legal Committee confirmed that the work on the general amnesty law is proceeding to formulate it in its final form, noting that Parliament will extend its legislative term to complete important laws.
Committee member Raed Al-Maliki said, "Next week, the committee will focus on legislating the Personal Status Law, and work is ongoing in the committee on the general amnesty law to formulate it in a final form, and we are working to have it passed during the current legislative session."
TNT:
Tishwash: Parliamentary Legal: Parliament will extend its legislative term to complete important laws
The Parliamentary Legal Committee confirmed that the work on the general amnesty law is proceeding to formulate it in its final form, noting that Parliament will extend its legislative term to complete important laws.
Committee member Raed Al-Maliki said, "Next week, the committee will focus on legislating the Personal Status Law, and work is ongoing in the committee on the general amnesty law to formulate it in a final form, and we are working to have it passed during the current legislative session."
He added, "The House of Representatives will extend its legislative session for a month, and thus the legislative holiday will be only one month to complete some important laws. A letter was sent to the House Presidency to include some laws on the agenda during the coming weeks."
Al-Maliki said, "Among the laws that we demand to be included on the agenda are the laws (the right to obtain information, and the regulation of the right to demonstrate and peaceful assembly), as well as reading the proposals of some laws for a first and second reading, such as (the proposed law of human rights activists, and the law of the House of Representatives, its formations and amendments) link
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Tishwash: Al-Araji: Iraq today is free of terrorism
Today, Wednesday, October 23, 2024, the National Security Advisor, Qasim Al-Araji, announced that Iraq is "free of terrorism."
Today, the National Security Advisory held a conference to evaluate and update the Iraqi strategy for combating terrorism for the years (2012-2025), in coordination with the Counter-Terrorism Service and in cooperation with the European Union Mission in Iraq.
Al-Araji opened the conference with a speech in which he stressed that “Iraq today is free of terrorism and we are working to sustain security and ensure its success. We must work according to the principle of citizenship, far from nationalism and sectarianism, because Iraq unites everyone and we must abandon the feeling of marginalization and work according to the law and not escape punishment. The citizen must trust the state and its judicial institutions.”
He also pointed out that "there are no first-class or second-class Iraqis, etc., as all Iraqis are equal, and the government is strong and state institutions are strong and work to strengthen societal cohesion."
Al-Araji said, "The government is working on the largest social integration process for those who came from Al-Hol camp, where they were subjected to psychological rehabilitation in Al-Jadaa camp under the supervision of the Ministry of Migration and Displacement and all other agencies. More than 2,000 families have been returned to their original areas so far, and what remains are 600 families undergoing rehabilitation, in preparation for their return and giving them a chance at life again."
He also stressed "the importance of monitoring social media sites that spread division and poison among Iraqis and not allowing any party or entity to divide Iraqi society, as security was achieved by the pure blood of Iraqis and must be preserved." link
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Tishwash: Calls to accelerate 2025 budget and boost non-oil revenues
A number of representatives called on the government to expedite the submission of the 2025 budget, warning of the delay that could affect the implementation of development projects and economic reform programs.
They stressed the importance of enhancing non-oil revenues, calling for the adoption of financial and economic policies that contribute to diversifying sources of income and improving resource management.
The representatives stressed the need to develop clear plans for investment in the oil sector, with the aim of increasing productivity and achieving additional revenues to support the budget, in light of the ongoing fluctuations in global oil prices and the economic pressures facing the country.
This comes amidst an emphasis on the need to boost non-oil revenues and ensure the achievement of financial targets to avoid any economic imbalances.
The head of the parliamentary finance committee, Atwan Al-Atwani, said: “We expect the 2025 budget to reach the House of Representatives early next year,” indicating that “the government has begun meetings to restructure the budget items.”
For his part, member of the finance committee, Mustafa Al-Karaawi, stated that “the current year’s budget stipulated the need to provide parliament with the financial schedule before the end of the fiscal year, and any delay in this will cause a delay in the start of implementing the budget and its schedules,” noting that “the non-oil revenues targeted in the budget are estimated at 27 trillion dinars, while what has been achieved so far does not exceed 8 trillion dinars only.”
Al-Karaawi added that “the Ministry of Finance indicated the possibility of collecting 3 trillion dinars per month during the coming period, and that the finance committee called on the government to boost non-oil revenues and ensure the achievement of financial targets to avoid any economic imbalances.”
The MP stressed that "the committee closely monitors the distribution of budget funds to ensure their effective use in serving citizens and strengthening the national economy," noting that "it discusses from time to time ways to increase government revenues by developing the tax and customs system."
The MP noted that "there is a government plan that relies on automating and modernizing the work systems in these institutions, and it is expected to be completed by the end of this year, which will contribute to enhancing revenues and ensuring better efficiency in collecting them."
The head of the Parliamentary Finance Committee, Atwan Al-Atwani, discussed with the delegation of the Adam Smith International Foundation a set of laws related to developing the financial and banking system.
The two sides discussed important draft laws, including the Securities and Commodities Law, the Banking Studies Center Law, and the Islamic Sukuk Investment Law, with the necessary amendments.
Al-Atwani also reviewed before the delegation the most important challenges facing the financial system in Iraq, as well as the steps and priorities of the Finance Committee within the framework of finding a correct philosophy and rational management of public money and the economy by diversifying sources of income and not relying excessively on oil to feed the state budget.
He stressed that "the Parliamentary Finance Committee, as part of its ongoing efforts and continuous efforts to maximize non-oil revenues, is currently working on amending the law of the General Authority for Monitoring the Allocation of Federal Revenues." link
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Mot: .. Danger Danger Danger
Mot: A day without laughter (and dirt) is a day wasted…
Seeds of Wisdom RV and Economic Updates Thursday Morning 10-24-24
Good Morning Dinar Recaps,
TOKENIZATION: BIS INNOVATION HEAD SAYS PRIVATE SECTOR NEEDS TO EMBRACE CHANGE
The BIS Innovation Hub lead, Cecilia Skingsley spoke about the need for the current financial industry to embrace change. It’s one thing if there’s a department exploring the possibilities of tokenization, but if the C-suite is happy with the way things currently work because they’re making money, that inhibits progress.
“Because the financial infrastructures of today, they are not going to be fit for tomorrow,” she said, talking during the Institute of International Finance (IIF) annual meeting.
Good Morning Dinar Recaps,
TOKENIZATION: BIS INNOVATION HEAD SAYS PRIVATE SECTOR NEEDS TO EMBRACE CHANGE
The BIS Innovation Hub lead, Cecilia Skingsley spoke about the need for the current financial industry to embrace change. It’s one thing if there’s a department exploring the possibilities of tokenization, but if the C-suite is happy with the way things currently work because they’re making money, that inhibits progress.
“Because the financial infrastructures of today, they are not going to be fit for tomorrow,” she said, talking during the Institute of International Finance (IIF) annual meeting.
She believes there are two key requirements for tokenization to work at a global scale. One is digital identity and the other is around regulation. Different jurisdictions are creating their own rules, but there’s a need for mutual regulatory recognition, which will take time. Otherwise tokenization might just take off in certain regions, without the potential global benefit.
While some are disappointed with the slow speed of progress of tokenization, Ms Skingsley said she would have been surprised if it had moved faster. The financial sector needs to be humble.
“The last time the financial industry got really excited about new technology, it was during the securitization era,” she said, noting its contribution to the Global Financial Crisis. Hence, it’s good to be deliberate.
Talking about today’s Financial Stability Board (FSB) report on tokenization, she noted that the FSB’s job is to highlight risks. While everyone wants safety, the public sector wants “safe, safe, safe”, whereas the private sector wants flexibility.
She also shed light on the tradeoffs that central banks consider.
In order to encourage inclusion and competition, the public sector tends to embrace low barriers to entry. That’s until that triggers financial stability risks, at which point the questions is whether they want many participants or a few, and it’s easier to supervise a few.
Another trade off relates to liquidity. On the one hand, fragmented liquidity is not good for efficient markets. But at the other extreme, the public sector doesn’t want to see dependence on one particular marketplace.
In terms of solving liquidity issues, Ms Skingsley doesn’t currently see tokenization as addressing it, although that could change. Most market observers describe the current tokenization sector as fragmented. However, it could swing from one extreme to the other.
Ms Skingsley also noted that a few central banks are adapting their real time gross settlement (RTGS) to accommodate DLT-based financial market infrastructures (FMIs). The Bank of England is one of them.
“An increasing number of central banks are wanting to allow for a DLT-based FMI. And then you will see the beginnings of bridges from the current to what could be future tech.”
@ Newshounds News™
Source: Ledger Insights
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BRICS CURRENCY OFFICIALLY UNVEILED
A mock-up of the upcoming BRICS currency has finally been unveiled at the alliance’s ongoing summit in Kazan, Russia. Indeed, Russian president Vladimir Putin was seen with a mock-up up “BRICS bill” at the summit, the first time the new currency has been put on display.
The BRICS bill in question features the five BRICS nations’ flags (Brazil; Russia; India; China; and South Africa) connected together to form a circle. The displayed currency appeared to be a note with a value of 100. On the flip side of the note appears to be multiple additonal flags, likely of new interested countries that may join BRICS. These include Mexico; Egypt, Nigeria, and Bahrain.
The BRICS bloc has yet to formally announce the launch of the new BRICS currency, however, it has been at the front and center of conversations within the bloc for years. Earlier today, Chinese President Xi Jinping made a historical announcement regarding the bloc’s new payment system.
Speaking to those in attendance, the president discussed why the system is so important to groups that continued seeking a multipolar world. “There is an urgent need to reform the international financial architecture,” Jinping said. “BRICS must play a leading role in promoting a new system that better reflects the profound changes in the international economic balance of power,” he added.
BRICS Currency Launch To Be Revealed Soon?
The blockchain-based BRICS pay system has always been viewed as a key de-dollarization development. For the bloc, it presents a chance to circumvent Western financial infrastructure like the SWIFT payment platform. Therefore, presents a key opportunity for nations within the group to promote the use of their currencies for trade.
The BRICS bloc has enjoyed unprecedented growth over the last two years. It has sought to increase its presence on a global scale and disrupt the West’s dominant run. Throughout the last year, it has increased its de-dollarization efforts to lessen overall reliance on the US dollar. The new BRICS currency will be the next key step in establishing a world where USD isn’t the supreme leader.
The BRICS currency is expected to be backed by gold, the precious metal currently establishing new highs in value. According to reports, the new currency will consist of a backing of 40% gold and 60% tied to local currencies. The regional currencies could involve the Chinese yuan, Russian ruble, and Indian rupee, among other member’s legal tenders.
@ Newshounds News™
Source: Watcher Guru
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🌱 BRICS OFFICIALLY ADDS 13 NEW NATIONS TO THE ALLIANCE AS PARTNER COUNTRIES | Youtube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
~~~~~~~~~
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News, Rumors and Opinions Thursday AM 10-24-2024
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Thurs. 24 Oct. 2024
Compiled Thurs.24 Oct. 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Wed. 23 Oct. 2024 Wolverine: “Seven Whales have been paid and have returned home so they can start releasing funds. I have been assured we will be paid this week and it will be a blissful month. A very big person is in Zurich right now.”
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. 24 Oct. 2024
Compiled Thurs.24 Oct. 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Wed. 23 Oct. 2024 Wolverine: “Seven Whales have been paid and have returned home so they can start releasing funds. I have been assured we will be paid this week and it will be a blissful month. A very big person is in Zurich right now.”
Wed. 23 Oct. 2024 Banker: Still hearing by Friday to schedule appointments.
Wolverine From a high contact: From my understanding, the Redemption has already been aware of the Citizens with Fakes and were sending “Notifications” deliberately to lure them to come to Europe to trap them. This won’t delay things as it was planned
Wed. 23 Oct. 2024 BRICS Summit: BRICS just confirmed 159 nations will join the new gold/asset-backed Global Financial System.
Wed. 23 Oct. 2024 Zurich: There have been three sting operations in Zurich. Last week they arrested 73 more people. The previous month there had been over 300 arrests. Mostly Colombian and Venezuelan citizens with fake Zimbabwean Bonds. Many sellers have had their bonds confiscated by the “authorities” and ordered to leave the country within 24 hours. @Era54321Dorada
Wed. 23 Oct. 2024: Global Currency Reset is HERE! Full Power of the GCR/RV Unleashed, QFS Funds Ready, and GESARA/NESARA Set to Trigger the Biggest Wealth Transfer in History! – Gazetteller
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Global Financial Crisis:
Wed. 23 Oct. 2024: BREAKING! The American Economy Is About to Crash Harder Than We’ve Ever Seen And It’s All by Design – amg-news.com – American Media Group
Tues. 22 Oct. 2024: BREAKING: Putin and UAE’s Bin Zayed Hold Moscow Talks Ahead of BRICS Summit – US Dollar’s Control Over Oil Trade on the Brink! VIDEO – amg-news.com – American Media Group
Wed. 23 Oct. 2024: US trucking company files for bankruptcy. A Texas trucking company recently filed for Chapter 7 bankruptcy as it liquidates its assets after shutting down operations due to financial difficulties. According to Freight Waves, Sunset Logistics Inc., which is based in Irving, Texas, and five of its affiliates filed for Chapter 7 bankruptcy protection as part of an effort to liquidate assets. The outlet noted that Sunset Logistics filed a bankruptcy petition on October 3 in Dallas in the U.S. Bankruptcy Court for the Northern District of Texas. The trucking company had ceased operating on September 29 due to rising costs, low freight rates, and the current state of the U.S. economy. https://americanmilitarynews.com/2024/10/us-trucking-company-files-for-bankruptcy/
Wed. 23 Oct. 2024: On pace to close over 1000+ US Banks this year This is TOTALLY normal right? A sure sign of a healthy economy? This is NOT normal and NOT healthy The signs are there, you just need to SEE them Join for AMC updates and research, memes and more! https://t.me/amc4all
EBS Thurs. 24 Oct. 2024, (RUMOR) Ten Days of Darkness Sun. 27 Oct. 2024:
Thurs. 24 Oct. 2024 EBS Alerts Begin (RUMOR)
At Any Time: Tier4b (Us, The Internet Group) notification to set redemption appointments
Mr. Pool: On Thurs. 25 Oct. 2024 the EBS Emergency Broadcast System (allegedly) starts. Prepare by buying food, medications, toilet paper. Get ready. This will be all over the World. Take your money out of the bank.
Wed. 23 Oct. 2024: Breaking News! Global EBS Alert Set to Activate—Prepare Your Phones on October 24-25! …
Are you ready? The Quantum Financial System (QFS) will replace the old corrupt system. The elites’ banks, stock markets, and currencies will crumble. The greatest wealth transfer in history is about to take place, and the people will finally be free.
We are days away from the most significant event in human history. The old world is falling apart, and a new era is rising. Prepare yourself—physically, mentally, and spiritually. There’s no turning back once this begins.
The time for talking is over. Now, it’s time to act. Stay strong. Trust the plan. The storm is here.
Read full post here: https://dinarchronicles.com/2024/10/24/restored-republic-via-a-gcr-update-as-of-october-24-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man I believe they will show and expose the Real Effective Exchange Rate to the currency and there will be a period of time they're going to monitor and adjust...Doesn't matter what the exchange rate is...they have to make adjustments...Things change in societies and cultures.
10-23-2024 Intel Guru Frank26 IMO once you see the HCL you will see the new exchange rate. They have to go hand in hand the same way your lower notes need a new exchange rate. They also have to go hand in hand.
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U.S. Debt Hits Crisis Point: Can BRICS Shift Power Away from the U.S. Dollar? - Adam Button
Kitco News: 10-24-2024
Jeremy Szafron, Anchor at Kitco News, interviews Adam Button, Managing Editor at ForexLive, to explore critical developments in global markets, including the rising influence of BRICS, the U.S. dollar's strength, and surging global debt.
Button breaks down the implications of the BRICS nations' push for alternatives to the U.S. dollar, potentially reshaping the currency landscape with a gold-backed system.
The conversation also touches on the Federal Reserve's response to growing inflation and debt, as well as the recent interest rate cut by the Bank of Canada, with Button sharing insights into how these dynamics could influence the U.S. dollar's future.
00:00 - Introduction:
BRICS' Growing Influence
01:15 - Will the Fed Cut Rates Further?
03:30 - Bank of Canada’s Rate Cut
05:45 - U.S. Debt and Dollar Outlook
08:00 - IMF’s Growth Warning
10:30 - BRICS and De-Dollarization
12:55 - Gold’s Rally Explained
15:30 - Election’s Impact on USD
17:50 - Trade Tensions and FX Impact
19:45 - Investment Insights
Rich Americans May Be About To Lose A Tax Benefit They Love
Rich Americans May Be About To Lose A Tax Benefit They Love — and now they're racing to get their affairs in order
Christy Bieber Mon, October 21, 2024 Moneywise
Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience.
Generate Key Takeaways
The clock is ticking for wealthy families who want to take advantage of a major tax break that allows for the tax-free transfer of up to $27.22 million in assets.
The tax break was established by the Tax Cuts and Jobs Act, which was signed into law in 2017, and it is sunsetting automatically in 2025 — so it could disappear for the foreseeable future.
Here's what the tax break is, along with some details on how families are rushing to take advantage of it and some advice on whether you should do the same.
Rich Americans May Be About To Lose A Tax Benefit They Love — and now they're racing to get their affairs in order
Christy Bieber Mon, October 21, 2024 Moneywise
Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience.
Generate Key Takeaways
The clock is ticking for wealthy families who want to take advantage of a major tax break that allows for the tax-free transfer of up to $27.22 million in assets.
The tax break was established by the Tax Cuts and Jobs Act, which was signed into law in 2017, and it is sunsetting automatically in 2025 — so it could disappear for the foreseeable future.
Here's what the tax break is, along with some details on how families are rushing to take advantage of it and some advice on whether you should do the same.
Tax breaks on wealth transfers could be cut in half next year
The Tax Cuts and Jobs Act made many changes to the tax rules, but one of the biggest modifications involved a significant increase to the estate and gift tax exemption.
In 2017, wealthy individuals could transfer a total of $5,490,000 in assets without incurring estate or gift taxes. This is called the lifetime exemption and it applies to gifts you make above the annual exempt amount, as well as to assets that you transfer upon your death.
The new law significantly increased the amount you could transfer. The limit jumped up to $11,180,000 in 2018 and has been adjusted upward automatically each year.
In 2024, it's possible to transfer as much as $13,610,000 without owing taxes. This is per person doing the transferring. Married couples can combine their exemptions to transfer $27.22 million.
That big increase will go away next year unless lawmakers act again. When it goes away, the amount you can transfer tax-free will fall to somewhere in the $6 million to $7 million range. Assets above that threshold will be subject to a 40% transfer tax.
As a result of this change, many wealthy families are eagerly transferring assets this year while they can still take advantage of the larger exemption to move money to children and other loved ones without owing the IRS a cut.
Should you follow the lead of wealthy families?
While the change to the estate and gift tax exemption could profoundly impact wealthy Americans, it is likely to have no consequences at all for the vast majority of people.
TO READ MORE: https://www.yahoo.com/news/finance/news/rich-americans-may-lose-tax-105500873.html
Seeds of Wisdom RV and Economic Updates Wednesday Evening 10-23-24
Good Evening Dinar Recaps,
WHY IOTA’S SUPPLY INCREASE ISN’T A THREAT: INFLATION AND ECOSYSTEM GROWTH KEY
▪️Since IOTA increased the token supply last year to 4.6 billion—up from an initial 2.79 billion—there have been concerns that this has suppressed its price.
▪️However, one ecosystem member says the increase was in line with the broader inflation, other major tokens experienced similar figures, and it’s the ecosystem growth that ultimately matters.
Good Evening Dinar Recaps,
WHY IOTA’S SUPPLY INCREASE ISN’T A THREAT: INFLATION AND ECOSYSTEM GROWTH KEY
▪️Since IOTA increased the token supply last year to 4.6 billion—up from an initial 2.79 billion—there have been concerns that this has suppressed its price.
▪️However, one ecosystem member says the increase was in line with the broader inflation, other major tokens experienced similar figures, and it’s the ecosystem growth that ultimately matters.
In September last year, IOTA made a massive announcement, revealing that it would increase the supply of IOTA tokens from 2.79 billion to 4.6 billion. Since then, some analysts have claimed that the new tokens have been the key factor suppressing the price of the token.
However, one community member argues that what the ecosystem builds on the network is more important than the token inflation.
In its September 2023 announcement, IOTA revealed that it would release new tokens every two weeks for the next four years, presumably up to the end of 2027.
Of the new 1.82 billion tokens, the ecosystem fund, which includes the IOTA Foundation and the Tangle Ecosystem Association, would receive 31%, the highest share. The funds would go towards supporting developers to build on IOTA. Contributors received 5%, while Assembly stakers got 3.5%.
Did IOTA’s Supply Increase Suppress the Price?
Since the announcement, debate has been heated over the effect it has had on the price. IOTA’s price has dipped 22% since September last year. However, in that time, it has surged to a yearly high of $0.4146 in March this year, which sent its market cap to $1.32 billion.
He states that today, the token supply has only increased by 24.5% (currently stands at 3.48 billion).
This may seem like a lot, but when we consider USD inflation (which has grown by 29% over the same period), things start to look very different…The takeaway? The supply increase has not hurt IOTA’s value as much as you might think.
The member further notes that IOTA has been getting a bad rep like it was the only token whose supply had increased since it hit its all-time high back in 2017. In that time, BTC supply has grown 18%, while Ethereum’s is up 25%. Cardano has increased by a much bigger rate than IOTA at 35%. However, all these projects haven’t been attacked and accused of suppressing the price.
He adds:
The increase in supply is common for most crypto projects, and it’s a natural part of blockchain ecosystems, especially those with staking rewards or inflationary mechanisms.
Token inflation isn’t the most important factor for a crypto project, the member added. Rather, it’s more about “expanding the ecosystem (IOTA 2.0, SCL1, Shimmer), which brings value far beyond supply metrics.”
Remember: Market dynamics, adoption, and technological advancements will ultimately drive long-term value. The supply increase is a part of this evolution, not a hindrance.
IOTA trades at $0.1169, dipping 1.7% in the past day to bring its weekly losses to 5.3%.
@ Newshounds News™
Source: Crypto News Flash
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BRICS 2024 PIC
JUST IN: BRICS officially adds 13 new nations to the alliance as partner countries (not full members).
🇩🇿 Algeria
🇧🇾 Belarus
🇧🇴 Bolivia
🇨🇺 Cuba
🇮🇩 Indonesia
🇰🇿 Kazakhstan
🇲🇾 Malaysia
🇳🇬 Nigeria
🇹🇭 Thailand
🇹🇷 Turkey
🇺🇬 Uganda
🇺🇿 Uzbekistan
🇻🇳 Vietnam
@ Newshounds News™
Source: @Brics News
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WILL REGULATORS ALLOW TOKENIZED COLLATERAL FOR DERIVATIVES IN THE EU AND US?
During the SIBOS banking event yesterday, David Durouchoux from Société Générale (SocGen) FORGE explained that combining tokenization and derivatives is crucial to encourage the sector to grow.
However, derivatives are not part of the EU DLT Pilot Regime, which relaxes certain laws for DLT and tokenization.
Derivatives traders have to provide collateral as margin when prices move against them. However, traditionally the transfer of collateral is slow because it takes time to settle.
This results in added risks. It also means when traders want to withdraw collateral, it takes time. Hence, the desire to explore alternatives such as tokenization.
Meanwhile, Stateside there are moves afoot to get the Commodity Futures Trading Commission (CFTC) to support DLT-based collateral used for margin. We spoke to the CEO of Hashnote, a traditional finance (TradFi) affiliated firm that has launched a tokenized money market fund, USYC.
He sees the crypto world as a stepping stone to getting tokenized money market funds (MMFs) accepted as collateral in TradFi.
SocGen FORGE: digital bonds as collateral for derivatives
As context, SocGen FORGE provided the infrastructure for the issuance of the very first European Investment Bank (EIB) digital bond of €100m that was issued on the Ethereum blockchain in early 2021.
Mr Durouchoux said that a key requirement is to develop liquidity for digital bonds first. While DLT is already used for repo, it is usually based on the tokenization of existing government bonds.
The next step is to use digitally native bonds for repo. This is already happening in some jurisdictions, such as Switzerland.
“If we have that, then we can build up on that a derivative market, which is efficient. We have trading rooms, we are sell side and we know how to do it,” he said, adding that there have been discussions with the European Commission about reforming the DLT Pilot Regime law to support derivatives.
There are two types of derivative opportunities. ,One is tokenized derivatives and the other is the use of tokenized collateral for derivative margin calls.
The latter is the one more widely discussed and experimented with because tokenization enables collateral mobility. Rather than collateral being stuck with a single custodian and taking two days to settle, tokenization enables collateral to transfer almost instantly.
Tokenized collateral takes shape
Several solutions are already available. Europe’s HQLAᵡ is the traditional finance platform for mobilizing collateral. JP Morgan has its Tokenized Collateral Network and Broadridge’s repo solution DLR can also be used for collateral mobility. State Street says it’s working on a tokenized money market fund for use as collateral.
Some of this has been triggered by the interest in tokenized money market funds in the crypto world. Franklin Templeton was the first traditional finance (TradFi) firm to launch a tokenized money market fund on a public blockchain, with BlackRock launching BUIDL this year.
Hashnote’s tokenized MMF used as collateral for derivatives
In fourth place in crypto money market funds (MMF) is another TradFi affiliated firm, Hashnote, which is associated with high frequency trading firm DRW and its crypto offshoot, Cumberland.
Hashnote’s USYC fund, with $375 million in assets under management, isn’t a typical MMF in that its cash is in a bank during the day and earns yield on overnight repo.
It is the first tokenized money market fund to be accepted as collateral by crypto derivatives firm Deribit. Cumberland is one of the TradFi-linked firms that are using it as collateral. Hashnote’s CEO Leo Mizuhara told Ledger Insights that it sees crypto as a stepping stone to getting USYC accepted in the TradFi sector.
“My long game for the collateral product at least (is) that we want to be in the CME, in Eurex and LCH,” he said, calculating the collateral between them at around $90 billion, a figure substantially larger than crypto sector collateral. Short term he hopes to roll out the offering with crypto exchanges Binance, ByBit and OKX.
There are sufficient traditional finance firms active in the crypto world that they can lobby to include tokenized collateral.
“You get adoption in the crypto world, and you get the TradFi firms to tell the CFTC, ‘hey we trust this product, it’s working’,” said Mizuhara. “That’s how you get into the TradFi world and become dependable”.
In fact, the CFTC’s advisory group is already recommending that DLT-based collateral be allowed.
Meanwhile, Bloomberg reported that BlackRock has similar plans with its BUIDL MMF. BUIDL is already accepted as collateral at prime brokers FalconX and Hidden Road and it is eyeing Deribit, Binance and OKX as well.
Tokenized design matters
Hashnote’s Mizuhara pointed out that its USYC fund has a key advantage, because interest accumulates within the token. By contrast, BlackRock airdrops interest as new tokens to BUIDL holders once a month.
That’s fine for individual holders, but it’s a challenge if an intermediary has to ensure these airdropped tokens are distributed to clients. It’s an extra process that has to be programmed.
And the whole point of tokenized collateral is to reduce friction and enhance efficiencies.
@ Newshounds News™
Source: Ledger Ins9ghts
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🌱 DID DONALD J TRUMP BUY DINAR? SEEDS OF WISDOM TEAM | Youtube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
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Dr. Judy Shelton: Why Shouldn't the Dollar be as Good as Gold?
Dr. Judy Shelton: Why Shouldn't the Dollar be as Good as Gold?
Palisades Gold Radio: 10-23-2024
Tom welcomes a well known and interesting guest for the first time to the show, Dr. Judy Shelton.
Judy is Senior Fellow at the Independent Institute and author of Good as Gold, passionately advocates for sound money as a moral obligation of governments to their citizens.
Sound money, according to Shelton, should maintain its value over time, acting as an unchanging standard for economic planning and transactions.
Dr. Judy Shelton: Why Shouldn't the Dollar be as Good as Gold?
Palisades Gold Radio: 10-23-2024
Tom welcomes a well known and interesting guest for the first time to the show, Dr. Judy Shelton.
Judy is Senior Fellow at the Independent Institute and author of Good as Gold, passionately advocates for sound money as a moral obligation of governments to their citizens.
Sound money, according to Shelton, should maintain its value over time, acting as an unchanging standard for economic planning and transactions.
She criticizes the Federal Reserve's policy of debasing the U.S. dollar through inflation targeting, which undermines its purchasing power and creates inequality in society.
The Federal Reserve was initially established to provide an elastic currency that addressed seasonal economic fluctuations. However, the role of the Fed has shifted significantly over time, leading to concerns about its growing dependence on the government for budgeting needs and potential consequences for the economy and small businesses.
Shelton argues for market-determined interest rates, pointing to historical examples like the gold standard.
She also highlights the importance of accurate data in monetary policy decision-making and critiques central banks' conflicting policies on a global scale that can lead to currency wars and instability in international trade.
Shelton advocates for a new international monetary system anchored by a gold convertible long-term US Treasury bond, which would promote stability and accountability in international transactions.
She recalls her unsuccessful nomination to the Federal Reserve and expresses her belief that economic growth under President Trump's agenda and Elon Musk's involvement could lead to controlling the budget and promoting sound money.
Shelton urges for less central planning by governments, believing there is a collective yearning for trustworthy, stable money in society.
The interview concludes with Dr. Judy Shelton expressing her gratitude for the opportunity to discuss her ideas and the success of her book "Good as Gold" on Amazon's charts. She encourages listeners to get radical and demand sound money from their governments for a more prosperous economy based on individual liberty.
Time Stamp References:
0:00 - Introduction
0:45 - Sound Money & Morality
2:27 - Money Vs. Currency
4:32 - Price Stability?
11:52 - Fed Control & Hubris
18:30 - Central Planning & Mkts
24:03 - Fed 'Independence'
27:20 - Pricing Money Free Mkt.
36:10 - C.B. Global Effects
39:34 - BRICS & Gold?
44:34 - U.S. Gold Bonds?
55:30 - Golds History of Restraint
59:15 - Politics & Financial Plans
1:01:59 - Nominee & 'Extreme Views'
1:10:22 - Book 'Good as Gold'
1:11:50 - Get Radical & Wrap Up
Talking Points From This Episode
Dr. Judy Shelton advocates for sound money as a moral obligation of governments to ensure economic stability and planning through unchanging currency value.
The Federal Reserve's inflation targeting policy weakens U.S. dollar purchasing power, leading to inequality and potential consequences for the economy.
Shelton proposes a new international monetary system anchored by a gold convertible long-term US Treasury bond for stability in global transactions.