Seeds of Wisdom RV and Economic Updates Saturday Morning 11-2-24

Seeds of Wisdom RV and Economic Updates Saturday Morning 11-2-24

Good  Morning  Dinar Recaps,

PAXOS ISSUES ‘GLOBAL DOLLAR’ STABLECOIN USDG OUT OF SINGAPORE. PARTNERS DBS

Last July Paxos Global confirmed it received the regulatory go ahead from the Monetary Authority of Singapore (MAS) to issue a stablecoin, with DBS Bank as custody partner. Today it confirmed the launch of the USDG stablecoin, which it refers to as the ‘global dollar’. 

Given Paxos has a background of partnering with institutions such as PayPal and Stripe, it says the Ethereum stablecoin is “designed to support the needs of regulated institutions that maintain higher standards of operation.”

“Enterprise interest in stablecoins has never been higher than it is today, but the market lacks a solution that combines regulatory compliance with real economic incentives for enterprises,” said Ronak Daya, Head of Product at Paxos.

“USDG offers a trusted solution with a top-tier banking partner in DBS that will be the catalyst to drive stablecoin innovation and enterprise adoption at a global scale.”

Singapore’s largest bank, DBS, will provide custody for the securities and dollar cash deposits will also be managed via DBS.

Other stablecoins from Paxos
Paxos Trust in New York is the issuer of the PayPal stablecoin and also supports Stripe in its stablecoin acceptance. The company has its own US-based stablecoin USDP and its UAE-based affiliate, Paxos International, issued the yield-bearing stablecoin Lift Dollar (USDL). Paxos Trust was previously the issuer of the Binance USD stablecoin.

The company has always been amongst the most conservative in managing stablecoin reserves to ensure they maintain their 1:1 peg. Hence. it will hold US dollar deposits, short dated Treasuries and ‘other cash equivalents’. 

The whitepaper states other reserves include reverse repurchase (repo) agreements and institutional government money market funds. Reverse repo agreements involve temporarily lending cash (usually to banks) in exchange for collateral, in this case US government securities.

Stateside, Paxos structured as a New York regulated Trust to provide maximum protection to holders in the event of a bankruptcy. Likewise, Paxos Digital Singapore holds the assets in trust on behalf of stablecoin holders via segregated safeguarding accounts.

Anyone that has opened an account with Paxos (ie. has been through KYC) can redeem the stablecoin directly. It will usually take around a day but up to a maximum of five days in compliance with Singapore regulations. The minimum redemption amount is equivalent to the cost of the wire fee.

@ Newshounds News™

Source:  Ledger Insights

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CRYPTO VOTERS GUIDE TO CONGRESSIONAL LEGISLATION FOR THE 2024 ELECTION

The 2024 United States elections will be held on Nov. 5, as digital asset policy becomes a growing concern among pro-crypto voters.

As the 2024 US elections draw closer, digital assets have become a political issue for the first time, as industry executives and advocates apply pressure on candidates to pass pro-industry policies and embrace the future of money.

Clear and comprehensive digital asset policy in the United States remains elusive, as regulators like the Securities and Exchange Commission (SEC) regulate through enforcement action, rather than rulemaking. This lack of a coherent framework is a growing concern for elected lawmakers, industry service providers, and single-issue crypto voters.

While understanding a particular candidate’s stance on crypto policy is key, voters must also understand the underlying legislation currently being considered in the House and the Senate. Listed below are the key pieces of legislation currently up for consideration.

Financial Innovation and Technology for the 21st Century Act
The Financial Innovation and Technology for the 21st Century Act (FIT21) — introduced by Pennsylvania Congressman Glenn Thompson in 2023 — aims to establish a comprehensive digital asset regulatory framework by bringing sufficiently decentralized assets under the purview of the Commodity Futures Trading Commission (CFTC). The bill features these defining criteria for sufficient decentralization:

“If, among other requirements, no person has unilateral authority to control the blockchain or its usage, and no issuer or affiliated person has control of 20% or more of the digital asset or the voting power of the digital asset.”

However, the bill also gives the SEC authority to regulate digital assets deemed as securities. In May 2024, the bill passed in the House and must pass in the Senate before it is handed to the President for consideration.

CBDC Anti-Surveillance State Act
Minnesota Rep. Tom Emmer first introduced the CBDC Anti-Surveillance State Act in 2023.

The bill’s goal is to prohibit the Federal Reserve Bank from ever creating a consumer-facing central bank digital currency (CBDC), or otherwise maintaining accounts on behalf of individuals.

Moreover, the bill seeks to restrict the Federal Reserve from “Using a central bank digital currency to implement monetary policy or from issuing a central bank digital currency,” entirely.

CBDCs face widespread criticism from the crypto community, liberty-minded individuals, privacy advocates, and commercial banks. In May 2024, the bill passed in the US House and awaits a vote in the Senate.

Clarity for Payment Stablecoins Act of 2024
The Clarity for Payment Stablecoins Act is a re-introduction of a 2023 bill of the same name from Rep. Patrick McHenry and seeks to establish a comprehensive regulatory framework for US-dollar stablecoins.

A key difference between the newer draft and the earlier bill is a provision allowing stablecoin issuers with a market capitalization under $10 billion to be regulated at the state level, rather than the federal level.

The previous version of the bill advanced to the House floor but has not yet passed in either chamber. Senators Lummis and Gillibrand also proposed a similar bill to the Senate in April 2024, to establish a stablecoin regulatory framework.

Digital Asset Anti-Money Laundering Act
First introduced by Massachusetts Senator Elizabeth Warren in July 2023, the Digital Asset Anti-Money Laundering Act proposes that digital asset providers should be subject to the same reporting requirements as traditional financial institutions under the Bank Secrecy Act.

Warren is one of the crypto industry’s most vocal critics, and the 2023 bill has faced significant backlash as one of the most anti-crypto pieces of legislation currently up for consideration.

The bill has not yet passed in either chamber of Congress and even lost support from its cosponsor, Republican Senator Roger Marshall, in July 2024.

Financial Technology Protection Act of 2023
The Financial Technology Protection Act of 2023, proposed by Iowa Rep. Zachary Nunn, aims to create the Financial Technology Working Group to combat illicit finance in terrorism and organized crime in emerging financial technologies.

Earlier in 2024, the bill passed in the United States House of Representatives and has been submitted to the Senate for deliberation.

Equal Opportunity for All Investors Act
Introduced by Nebraska Congressman Mike Flood in April 2023, the Equal Opportunity for All Investors Act would expand the definition of an “accredited investor” — lowering the barrier to entry for participation in private securities sales and offerings.

More specifically, the bill would allow individuals to qualify as accredited investors by passing a knowledge test administered by the SEC.

In 2020, the SEC amended its long-standing criteria for an accredited investor to emphasize financial knowledge rather than net worth, income, or wealth. The Equal Opportunity for All Investors Act was passed in the US House of Representatives but has not yet passed in the Senate.

The Blockchain Regulatory Certainty Act
Rep. Tom Emmer — one of crypto’s most vocal proponents — submitted the Blockchain Regulatory Certainty Act to the US House of Representatives in March 2023. The bill’s central goal is to exempt blockchain developers and service providers from traditional financial reporting requirements, as long as they do not handle customer funds.

The bipartisan bill was approved by the House Financial Services Committee in July 2023, and allowed to advance to the US House of Representatives but has yet to pass in either chamber of Congress.

Keep Your Coins Act
Ohio Congressman Warren Davidson introduced the Keep Your Coins Act in July 2023 as a consumer-facing protection meant to restrict regulatory agencies from preventing US citizens from using self-custodial wallets to transact.

At this time, it is unclear whether the bill will be passed into law or garner widespread support.

@ Newshounds News™

Source:  CoinTelegraph

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🌱 AUDIO INTEL AND MORE WITH BOB LOCK, JIM SILVER 57, R JAX AND LOWTIDE. GREAT INFO.  |  YOUTUBE

If you missed the Constitution Call last night, here is the replay.  We started off with any NEW news from Mason and Jim, INTEL.  We were Joined by Bob Lock.  Lots of great info including Election News near the end.

@ 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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Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

News, Rumors and Opinions Saturday AM 11-2-2024

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 Sat. 2 Nov. 2024

Compiled Sat. 2 Nov. 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Fri. 1 Nov. 2024 Mike Bara: OK, so just when I was ready to give up on this thing happening before the election, I get this: “The US election n will not change the timing. All countries and banks have signed the necessary treaties and are ready. Dinar will lead the way on Sunday/Monday. Bonds/GCR on Tuesday.” I guess they decided the chaos of the US election is actually the perfect cover. We will see, but hang in there!

Fri. 1 Nov. 2024 TNT Tony via Fred Koch on Telegram: “TNT seems to confirm Wolvie’s Intel. They claim banks had an emergency meeting and they came to the conclusion that they would prepare over the weekend for T4b launch on Mon. 4 Nov. 2024.”

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Fri. 1 Nov. 2024 Wolverine Call:

I got some wonderful news, and I have spoken to paymasters and bank officials. The green light has been given. We are just about to cross the finish line. 

Our friend Charlie Ward has always said nothing will happen till after the election. He was dead on, and has never moved from that opinion, and he was absolutely right.  

The codes have been locked in, authority has been given, and by next week we will be celebrating. We have million percent assurance it is now all coming through.

The main leaders from all countries (Mauricio may have been included on that), have been called to receive their blessing.  

I have spoken to the leaders of the platforms, and they are in the same intel as myself, and also been told same. The Precatorias should be released by Tuesday or Wednesday for people who are in that platform.

Each platform is different. When these people see their money, they then have to release that money to the members (I am not talking about currency, I am talking about bondholders).  They will decide when they can release it, because it is not as easy as pressing a green. They must do all by the book, get it all ready, get all the sub-leaders together to release the money to their people. All has to be done to be timed correctly.

They have till the 10th of November to RELEASE ALL OF IT – ALL HAS TO BE RELEASED!!!  This has been Verified and vetted.  

I know we have been going through “it is coming and it is coming tomorrow “but in speaking to the general paymasters (not the ones in South America) they have assured me that all is now coming.

I had the privilege of being on a private call for a private contractor, and the amount of money is a huge amount of money to come through to be used for humanitarian purposes.

Now for the currencies, I know everyone has been waiting for their currency notification that should come in with the Grace of God, after the election results on Tuesday 5 Nov.

I know you have been waiting, but this has come from official channels. God Bless you. Be patient. Hopefully, we will have an incredible celebration next week. I would like to meet all of you at the get together and give you all a huge hug.

Fri. 1 Nov. 2024: BOOOM! Global Financial Revolution: How Starlink, Basel III, and ISO20022 Are Blowing Up Traditional Banking! – amg-news.com – American Media Group

Fri. 1 Nov. 2024: Quantum Financial System Goes Live: Cabal Wealth Seized, Global Currency Reset in Motion, Quantum Satellites and Military-Guarded Nodes Secure the Greatest Financial Revolution of Our Time! – Gazetteller

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Global Financial Crisis:

Fri. 1 Nov. 2024: CEO of US’ largest bank JPMorgan CEO says ‘it’s time to fight back as things are becoming …’ – Times of India: https://timesofindia.indiatimes.com/technology/tech-news/ceo-of-us-largest-bank-jpmorgan-ceo-says-its-time-to-fight-back-as-things-are-becoming-/articleshow/114825978.cms

U.S. Stocks now account for 49% of the World’s Market Cap!  The last time this level was breached was just before the Dot Com Bubble

Intel $INTC is set to lay off close to another 17,000 employees after laying off 20,000 earlier in the year

Fri. 1 Nov. 2024: BREAKING: Nearly 953 Billion Dollars Has Been Wiped Out From the US Stock Market Today – amg-news.com – American Media Group

Read full post here:  https://dinarchronicles.com/2024/11/02/restored-republic-via-a-gcr-update-as-of-november-2-2024/

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

Frank26  [Iraq boots-on-the-ground report]  FIREFLY:Mr. Sammy said all branch bank managers have gone through and now completed international service standards in banking reforms as of yesterday morning.  FRANK: Why?  Because of the float.  You have to have a new exchange rate if you're going to float it.

Walkingstick  [Iraqi Bank Manager Friend Aki Update]  They are about to open many hundreds of ATM exchange enters outside of Iraqi borders.  We call them currency exchange centers.  Aki owns 90 of these centers.  It is not him by himself.  Aki is part of a conglomerate.  His business partners, there's 18 of them, they own 90 of these 'currency exchange centers' around the world.  The exchange centers are under the control of the GOI and CBI.  They both control the exchange rate of the Iraqi dinar.

Walkingstick   It would behoove them to now put the pictures and the explanations of the lower denoms on the bulletin boards at these currency exchange centers.  Aki owns 90 of these exchange centers with his conglomerate.  You know why?  Because it's all about the money.  They don't get involved in politics.  They don't care about parliament.  They don't care about any delays.  It's only about the bottom line.

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THIS IS IT! THE POINT OF NO RETURN... EXPECT ANYTHING AND TAKE ACTION NOW.

Greg Mannarino:  11-1-2024

https://www.youtube.com/watch?v=1p2mhA3zZ3o

BRICS Precious Metals Exchange: A Game Changer for Global Finance?

Express EconGeoFinance Insights:  11-1-2024

The BRICS nations, comprising Brazil, Russia, India, China, and South Africa, are taking a bold step towards gaining control over the global precious metals market. In this video, we'll explore the implications of this move and what it means for the future of gold, silver, and other precious metals. Will this shift in power dynamics change the way we think about investing in precious metals? Tune in to find out.

https://www.youtube.com/watch?v=qaOUyQqGI_8

GoldSilver: What are the BRICS Nations Preparing for?

GoldSilver: What are the BRICS Nations Preparing for?

Mike Malony:  Nov. 1, 2024

BRICS is making waves on the global stage, and in this eye-opening video, we explore the recent BRICS Summit's key revelations, highlighting the alliance's economic resilience, military strategies, and ambitious plans to reshape international trade systems.

Despite facing heavy Western sanctions, Russia and its BRICS partners seem far from isolated. In fact, they’re laying the groundwork for a new world order. Discover:

The impressive economic gains of BRICS nations, including India's role as a major trade intermediary.

How Russia’s oil revenues continue to thrive despite sanctions.

Alarming military developments, from North Korean troops in Ukraine to Iran’s call for a global military coalition.

A deeper look into Russia’s narrative on the Ukraine conflict and the contradictions in claims of its isolation.

Strategic moves towards decoupling from Western financial influence, including Putin’s plans for food security and local currency settlements.

As tensions rise globally, are we on the brink of a major shift? Prepare to rethink everything.

In a world increasingly divided along geopolitical lines, the BRICS alliance (Brazil, Russia, India, China, and South Africa) is making significant waves on the global stage. Recently, an eye-opening video by GoldSilver featuring Alan Hibbard peeled back the layers on the latest BRICS Summit, shedding light on the alliance’s growing economic resilience, military strategies, and ambitious plans to reshape international trade systems.

Despite heavy Western sanctions, particularly against Russia, BRICS nations appear to be crafting a robust counter-narrative to the established order, signaling the potential for a new world dynamic.

One of the most striking aspects of the recent BRICS Summit is the impressive economic gains shown by its member nations. Hibbard points out how India, in particular, is emerging as a significant trade intermediary, bridging gaps between East and West while facilitating trade routes that bypass traditional Western-dominated systems.

This pivot towards local currencies and bilateral trade agreements showcases BRICS nations’ commitment to establishing an economic framework less reliant on the U.S. dollar.

Russia, often viewed through a lens of isolation due to stringent sanctions, continues to see its oil revenues soar, bolstered by rising demand in Asia and selective trade partnerships. The adaptability of these nations in the face of Western pressures not only undermines the efficacy of sanctions but also affirms BRICS’ resolve to carve out an independent economic space.

One of the most pivotal discussions at the recent BRICS Summit revolved around the strategic moves to decouple from Western financial dominance. Hibbard highlights President Putin’s plans for achieving food security through enhanced local currency settlements, underscoring a shift that could disrupt the prevailing dollar-centric global trading system.

 As BRICS nations maneuver to establish alternative financial mechanisms, the implications are profound: we may be witnessing the early foundations of a multi-currency system that challenges the longstanding supremacy of the U.S. dollar.

As tensions escalate globally, the world finds itself on the precipice of a significant shift. The BRICS alliance, through its economic, military, and strategic initiatives, asserts itself as a formidable player on the international stage. Hibbard’s insights compel us to reconsider previously held notions about isolation, cooperation, and the ever-evolving dynamics of global power structures.

In conclusion, the BRICS nations are not merely reacting to external pressures; they are actively defining their future through collaboration, resilience, and innovation. As we navigate these changes, it is crucial for observers and participants in the global arena to reassess their strategies and alliances, preparing for a reality that may look vastly different in the not-so-distant future.

The question looms large: are we on the brink of a major shift in the global order? Only time will tell, but with BRICS making such substantive moves, it seems more plausible than ever.

https://www.youtube.com/watch?v=vnPAJYZgrx4

Ariel: Ladies and Gentlemen Start Your Engines 10-31-2024

Ariel:  Ladies and Gentlemen Start your Engines  10-31-2024

10-31-2024

Iraqi Dinar Update

Currency Auctions
2025 Budget
New Electronic Cards
New Lower Denominations

The Iraqi News Wire

The volume of currency issued in circulation is approaching 100 trillion dinars.

▪︎ Foreign exchange reserves exceed $100 billion
▪︎ Next year they witness major transformations in the restructuring of government and private banks.
▪︎ The growth rate of the money supply rose from 46 trillion to 100 trillion in two years.
▪︎ External debt does not exceed 20 billion dollars
▪︎ The current inflation rate is 3.8%, which is a typical rate.
▪︎ They have granted licenses to 16 electronic payment companies.

Possible Timeline For New Exchange Rate

End 2024: The Cancellation of currency auctions, which could open the door to a new, stabilized rate.

Early 2025: Potential introduction of a new exchange rate or redenomination, likely with lower denominations in January.

2025 and Beyond: Continued modernization and integration of the Iraqi banking sector, leading to enhanced stability and economic growth, which supports a stronger dinar.

Currency Auctions: The move to phase out currency auctions by the end of 2024 is part of their effort to stabilize the dinar and eliminate rate distortions caused by reliance on auction-based exchange mechanisms. This shift allows them to move toward a direct foreign exchange mechanism, leading to a more controlled, market-based exchange rate that better reflects the true value of the dinar in international markets.

Electronic Payments Infrastructure: The licensing of 16 new electronic payment companies is another critical step in our financial modernization strategy. These companies will play a pivotal role in increasing electronic payment adoption, facilitating both local and international transactions, and bringing Iraq’s banking infrastructure in line with global standards. This adoption is expected to improve financial inclusion and reduce reliance on cash transactions, indirectly supporting a more stable dinar.

New Lower Denominations: Plans to introduce lower denominations, potentially in early 2025, are aligned with the anticipated redenomination strategy. This initiative signals a long-term commitment to strengthening the dinar is said to contribute to easier everyday transactions, reducing inflationary pressure from currency volume in circulation and aligning Iraq’s monetary system with the broader regional and global financial ecosystem.

Iraq’s recent announcement on allowing “Category A” licenses for banks to function as exchange companies is a significant step toward economic growth and stability. With this license, banks can now offer extensive currency exchange services, enabling seamless and large-scale transactions for both individual customers and businesses. No more middle men.

Banks with a Category A license can buy and sell major currencies in high volumes. This isn’t just limited to small exchanges for travel but includes substantial transactions for international business and investment, meaning Iraqi banks can now better support large foreign currency needs. This is important to our investment.

Think about the recent announcements.

• Iraq established a exchange syndicate.
• XRP & XLM became official currencies.
• The 2025 budget was approved.
• They are supposed to select a new parliament speaker today.
• The Dinar is recovering locally. Which is purchasing power.
• The Oil & Gas Sectors signed more contracts.
• The Trade Bank of Iraq is opening new branches.
• The Mosul International Airport was built with international specifications and is 86% complete. (Amazing)

Ladies & Gentlemen Start Your Engines

Why it’s important?

• Resolution of Legislative Stalemate: The speaker’s position had been vacant since November 2023, leading to a legislative impasse. Al-Mashhadani’s election ends this nearly year-long vacuum, enabling the parliament to resume its full legislative functions.

• Facilitation of Critical Legislation: With a functioning parliament, there is renewed potential to address and pass critical laws that have been delayed, such as the Federal Oil and Gas Law. This law is crucial for defining the management and distribution of Iraq’s oil resources, a matter that has been under debate for over 15 years.

• Advancement of Monetary Reforms: A stable legislative environment is essential for implementing monetary reforms aimed at economic stabilization and growth. Al-Mashhadani’s leadership can provide the necessary momentum to enact policies that enhance the financial sector’s efficiency and transparency.

Implications for Iraq’s Future:

The successful passage of the Oil and Gas Law would clarify the roles of federal and regional authorities in resource management, potentially reducing conflicts and attracting foreign investment. Similarly, monetary reforms could lead to a more stable currency and improved economic conditions, benefiting the Iraqi populace.

Source(s):
https://x.com/Prolotario1/status/1852005086739783769
https://x.com/Prolotario1/status/1852090132439994580

https://dinarchronicles.com/2024/10/31/ariel-prolotario1-ladies-and-gentlemen-start-your-engines/

Seeds of Wisdom RV and Economic Updates Friday Morning 11-1-24

Good morning Dinar Recaps,

UBS ISSUES TOKENIZED USD MONEY MARKET FUND USING ETHEREUM TECH

Today UBS Asset Management announced the launch of its “UBS USD Money Market Investment Fund Token” (“uMINT”) which is “built on Ethereum distributed ledger technology”.

The Singapore fund will only be available through authorized distribution partners. That’s the case for most regulated entities, including BlackRock’s BUIDL money market fund where Securitize is a partner.

Previously UBS has actively engaged with the public Ethereum blockchain, using tokens that require permissions. However, Ethereum technology is also available in private environments. UBS uses both as part of UBS Tokenize, hence we’ve requested clarification, although the fund likely uses public blockchain.

“We have seen growing investor appetite for tokenized financial assets across asset classes,” said Thomas Kaegi, Co-Head of UBS Asset Management APAC. “Through leveraging our global capabilities and collaborating with peers and regulators, we can now provide clients with an innovative solution.”

Tokenized money market funds such as BUIDL, Franklin Templeton’s FOBXX, and now uMINT, currently mainly target the crypto investor class. The funds provide a safe place to park cash and earn yield.

However, in the future there will be a broader demand for these sorts of funds, especially those that are transferrable, enabling the ability to switch in and out of the funds almost instantly. 

That compares to typical funds that tend to have once a day redemptions. This feature is appealing beyond crypto investors to corporate treasurers and institutions.

UBS and tokenization
Meanwhile, UBS Asset Management has been active in tokenization for some time. Last year UBS Hong Kong worked with Bank of China Investment (BOCI) for BOCI’s issuance of CNH 200 million ($28m) in digital structured notes on the Ethereum public blockchain.

As part of Singapore’s Project Guardian initiative, UBS has engaged in several pilots. These included the pilot issuance of a tokenized money market fund by UBS Asset Management on the Ethereum blockchain using a Singapore variable capital company (VCC) structure.

Plus, the bank was involved in the first institutional cross border repo trade on a public blockchain in conjunction with DBS and SBI Digital Asset Holdings.

UBS is also engaged in tokenized cash. It was one of the founders of Fnality, the institutional settlement network that tokenizes balances held at a central bank account.

@ Newshounds News™

Source:  Ledger Insight

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BIS DISTANCES FROM PROJECT MBRIDGE AMID BRICS SANCTIONS CONCERNS

Economic sanctions have a profound effect on international financial architecture, it turns out.

The Bank for International Settlements (BIS) has “graduated out” of Project mBridge, the wholesale central bank digital currencies (CBDCs) bridge its Innovation Hub has helped develop since 2021. Nonetheless, the project is many years away from becoming operational, BIS general manager Augustín Carstens said on Oct. 31.

Project mBridge, which uses technology developed by the Hyperledger Foundation, reached the status of minimum viable product and invited private sector participation in June. Banks in China and the United Arab Emirates have heeded the call to join.

Besides the BIS, founding members of the project include the central monetary authorities of China, Hong Kong, Thailand and the UAE. Saudi Arabia joined as a full member in June, and the project has over 25 observing members.

BIS insists it backs sanctions
The reason for Carstens’ eagerness to distance his organization from such a promising project and downplay its significance was obvious at the fireside chat at the Santander International Banking Conference where Carstens was speaking. He was asked:

“I have noted media speculation recently that one of your projects — Project mBridge — could provide the basis for a BRICS initiative to circumvent sanctions. Is that plausible?”

“With respect to political aspects, the noise out there, mBridge is not the ‘BRICS bridge’ — I have to say that categorically,” Carstens answered.

Rather, mBridge was designed to meet the needs of central banks. But Carstens did not say circumventing sanctions with Project mBridge was implausible. Instead:

“The BIS does not operate with any countries, nor can its products be used by any countries that are subject to sanctions […] And all central bank members are in this mindset.”

BRICS — the intergovernmental organization named for founding members Brazil, Russia, India, China and South Africa — has been discussing de-dollarization for years. In that time, Iran, Egypt, Ethiopia, Saudi Arabia and the UAE have joined it, meaning that BRICS and Project mBridge share nearly half their members.

BRICS has long promoted efforts toward de-dollarization of the international financial system. While it has had little success so far in reaching that goal, the emphasis on alternative currency options shown at the group’s summit in Kazan, Russia, earlier in October made international observers shudder.

Reconsidering international transfers
The appeal of Project mBridge for potential sanctions evaders is its circumvention of the correspondent banking system, which is the practical mechanism for imposing sanctions.

Carstens was eager to direct attention to another BIS undertaking — Project Agora — that could provide a basis for the “Finternet” concept of international financial architecture he introduced in April.

The Bank of France (representing the Eurosystem), Bank of Japan, Bank of Korea, Bank of Mexico, Swiss National Bank, Bank of England and the Federal Reserve Bank of New York are the participants in Project Agora — no BRICS members. Crucially, Project Agora maintains the correspondent banking system.

@ Newshounds News™

Source:  CoinTelegraph

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BOB LOCK JOINS THE CONSTITUTION CALL FRIDAY NIGHT WITH SILVER 57 JIM, MASON, R JAX AND LOWTIDE  |  Youtube

Friday  Nights Live - ask your questions
JOIN Link 

Call Schedule:
5:00 PM Pacific Time
7:00 PM Central Time
8:00 PM Eastern Time

 Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

News, Rumors and Opinions Friday AM 11-1-2024

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. 1 Nov. 2024

Compiled Fri. 1 Nov. 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Thurs. 31 Oct. Wolverine: “It’s time to go. It’s about here. Maybe within 24 hours. I heard from a Paymaster that’s it’s not as easy as it appears. There’s a lot of work to make it go.”

Wed. 30 Oct. 2024 FRANK-INFORMADOR The Whales: The Main Leaders of All Countries have been called to receive THE PAYMENTS AND TRAINING. These, in turn; will train and notify the payments to all Group and Social Leaders; These, will be made through traditional banking in their accounts within the QFS System. Thank you very much. We appreciate your patience.

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Thurs. 31 Oct. Bruce:

This weekend NESARA/GESARA should start.

On Fri. 1 Nov. the USTN should be gold backed and our official currency.

The International Rate on the Dinar is (allegedly) out and trading in the Middle East. It might not make it on the screen tomorrow, perhaps by next Wed. 6 Nov.

The Banks are to receive three emails: one from the US Treasury, one from Wells Fargo and one from another source. Most have received their first email. They will receive the second from the US Treasury this afternoon. The third one will (allegedly) occur tomorrow Fri. 1 Nov. from Wells Fargo.

Some Redemption Center staff went in today Thurs. 31 Oct.

Bond Holders do not yet have access to their accounts. They are looking for emails to come out on Sat. or Sun Nov. 2, 3. Those emails will tell them when they can receive access to those funds.

Tier 4B (us, the Internet Group) is looking to receive emails for appointments at the Redemption Center Sun or Mon. Tues is Election Day. We could exchange by next Wed. 6 Nov.

Global arrests should be complete by Sat. 2 Nov. The Elite arrests in the US should complete on Fri. 1 Nov.

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Global Financial Crisis:

Thurs. 31 Oct. 2024: $953 billion was wiped out from the US stock market today.

Read full post here:  https://dinarchronicles.com/2024/11/01/restored-republic-via-a-gcr-update-as-of-november-1-2024/

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

Walkingstick  [Iraqi Bank Manager Friend Aki Update]  They are about to open many hundreds of ATM exchange enters outside of Iraqi borders.  We call them currency exchange centers.  Aki owns 90 of these centers.  It is not him by himself.  Aki is part of a conglomerate.  His business partners, there's 18 of them, they own 90 of these 'currency exchange centers' around the world.  The exchange centers are under the control of the GOI and CBI.  They both control the exchange rate of the Iraqi dinar.

Frank26  [Iraq boots-on-the-ground report]   FIREFLY:  They talked about about the deletion of the zeros project on the television today.  FRANK: The monetary reform education is very loud.  It's coming to you at an increased speed.  So much is being thrown a you to prepare you.  Again, I strongly feel this year not next year.  I don't want to exaggerate but it's almost to the point that every day they are explaining to you Iraqi citizens why that are lifting the three zeros to give you purchasing power to your currency. This is a dream come true.

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

GOLD... CENTRAL BANKS ARE BUYING ALL OF IT! AND THAT SHOULD TELL YOU SOMETHING.

Greg Mannarino:  10-31-2024

https://www.youtube.com/watch?v=SLLcoX9vmR8

This Is EXACTLY How The 2008 Crash Started

Lynette Zang:  10-31-2024

Today we are going over another bank failure, what it means for you and your money, and why it's scary close to what happened in 2008.

https://www.youtube.com/watch?v=YHNy3Sku41o

“Tidbits From TNT” Friday Morning 11-1-2024

TNT:

Tishwash:  The CEO of the Iraq Stock Exchange has been relieved of his post.

The Iraq Stock Exchange announced on Thursday the dismissal of the market's CEO, Taha Ahmed Abdul Salam, from his position.

The market said in a statement, seen by "Al-Eqtisad News", that the market's CEO, Taha Ahmed Abdul Salam, was dismissed from his position today, Thursday.

It added that "the head of the Securities Commission, Faisal Al-Haimus, was also chosen to replace Abdul Salam."   link

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

Tishwash:  In cooperation with a foreign advisor.. A parliamentary committee announces its efforts to amend the Oil Ministry Law

The Parliamentary Oil and Gas Committee announced today, Friday, a move to amend the Ministry of Oil Law 101 of 1976, while indicating that the draft will be presented to the Council of Ministers soon.

MP Basem Naghmish, a member of the Oil and Gas Committee, said: “A subcommittee was formed within the Oil and Gas Committee to review the legislation related to the oil sector, and it was called the “Oil Legislation Committee”.
He explained that “the committee is working to review several laws, with the aim of amending them to suit the current requirements of the oil sector”, indicating that “among these laws is the Oil Ministry Organization Law No. (101) of 1976, which is considered an old law that was amended about three times, the last of which was in 1982”.

He added that “the ministry witnessed many technological and administrative developments during the period after 2003, as the work of the Oil Ministry expanded and formations multiplied, in addition to the creation of some formations”.

He pointed out that “the draft to amend the law is still in the preparation phase, and cooperation is being done with a foreign consultant contracted with the ministry to provide his comments, and then the draft will be submitted to the Council of Ministers and to the advisors, and then to the State Council, in order to study the extent of its consistency with the legal system in the country”.

He continued: “After that, the draft will return to the Council of Ministers and then to House of Representatives to complete legislative procedures  link

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

Tishwash:  Al-Sudani congratulates Al-Mashhadani: We renew the legal and constitutional commitment to support the oversight role of the House of Representatives

Prime Minister Mohammed Shia Al-Sudani congratulated Mahmoud Al-Mashhadani on his election as Speaker of Parliament today, Thursday.

Al-Sudani said in a tweet on the {X} platform: “I extend my congratulations to Mahmoud Al-Mashhadani on the occasion of his election as Speaker of the House of Representatives. I also congratulate the members of the Council and all national political forces for their decision on this important constitutional entitlement, in a step that serves to complete the service of our people, which is a goal that the government has adopted as a slogan since the beginning of its work.”

He added, "On this occasion, the government affirms its determination to continue implementing its government service development programme, in full cooperation with the constitutional authorities, foremost of which is the legislative and oversight authority, represented by the House of Representatives."

Al-Sudani renewed "the legal and constitutional commitment to support the oversight role of the House of Representatives, which complements the work of the government and consolidates its performance in its priorities, by combating corruption and implementing the required reforms," ​​concluding, "We ask God Almighty for success and guidance for the Speaker of the House of Representatives and the esteemed Council in performing its duties, and everything that our honorable people await."  link

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

Tishwash:  Al-Sudani's advisor identifies 3 priorities for the Iraqi economy: We are working on a new approach

 The Prime Minister's Representative, Technical Advisor and Head of the Sovereign Loans Initiative, Mohammed Sahib Al-Daraji, confirmed today, Thursday, that the private sector is a fundamental pillar in the government's new economic plan, while pointing to the government's efforts to reduce the transfer of hard currency and support national projects.

Al-Daraji said in a speech during the first Iraqi Economic Forum that "the Iraqi government has begun taking real steps to support the Iraqi economy, as it has changed the philosophy of the economy that suffered from a lack of clarity in the economic vision for more than twenty years."

He pointed out that "the government is working on a new approach that considers the private sector a fundamental pillar and seeks to integrate its outputs into the national product," noting that "the government provides special support to the investment and business environment sectors, as it seeks to separate direct investment and provide an appropriate environment for the private sector to participate in projects. The government also encourages partnerships with foreign companies to demonstrate developments in the customs and tax system, such as unifying taxes and customs tariffs across regions, and exempting foreign companies from some special taxes."

He pointed out that "Iraq has begun to guarantee the private sector before international financial institutions through the Sovereign Guarantees Initiative, and has moved towards establishing an international market for carbon bonds to support project financing."

He pointed out the "three priorities of the Iraqi economy: localizing industries, integrating with global financial institutions, and developing competencies for the public and private sectors," adding that "the Iraqi market is open to global companies, especially in the construction and clean energy sectors, and that there is a trend to support the private sector through new legislation such as laws to protect intellectual property and partnerships between the public and private sectors."

He added, "The government supports the economy based on partnership with the private sector, with a focus on reducing the transfer of hard currency abroad.

He expressed his "hope that these conferences will produce outcomes that support the current government's orientations, which is the most attentive to the private sector and the most involved in decisions," noting "the presence of representatives from the private sector on the Development Fund's Board of Directors and within the Prime Minister's official delegations as a message of support for businessmen."  link

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

Mot .. Ooooooh Nooooooo -- Better Get Ready!!!!! 

Mot ....... Let the Truth Be Known!!! 

Seeds of Wisdom RV and Economic Updates Thursday Evening 10-31-24

Good Evening Dinar Recaps,

HEDERA WELCOMES NAIROBI SECURITIES EXCHANGE TO GOVERNING COUNCIL, ACCELERATING SECURITIES TOKENIZATION IN AFRICA

▪️The Nairobi Securities Exchange (NSE) has joined the Hedera Governing Council to advance tokenization in Kenya’s capital markets, a significant move for both the local economy and the broader African financial landscape.

▪️By joining the Hedera Council, the NSE will provide African investors with access to innovative digital assets and financial products.

Nairobi Securities Exchange (NSE), the best-performing market in Africa has joined the decentralized Hedera Governing Council, the organization behind Hedera Hashgraph, in a bid to expedite the adoption of tokenized securities within Kenya’s capital markets. As the 32nd member of the Hedera Council, the NSE joins a global network that includes companies like Google, IBM, and LG, which oversee Hedera’s governance.

According to the Morgan Stanley Capital International (MSCI) ranking, the NSE earned the title of Africa’s top-performing market in the first nine months of 2024. This displays the strong trust investors have in it. Furthermore, this reward showcases how the NSE is the cornerstone of prosperity to Kenya’s economic progress.

Here’s How Hedera Will Transform Digital Finance in Africa
As a key part of this alliance, the NSE brings digital and tokenized assets directly into the mainstream. For context, Tokenization is the process of converting real assets like stocks, bonds, and commodities into digital tokens on a blockchain. This collaboration also aims to modernize Africa’s financial markets by using Hedera’s advanced Distributed Ledger Technology (DLT). Hedera’s DLT allows multiple members to maintain their own identical copy of a shared ledger.

Through Hedera’s Hashgraph Consensus, created by Leemon Baird, co-founder and chief scientist of Hedera the NSE will have several benefits. This includes Secure, real-time, and low-cost payment settlement allowing users to transact using their preferred cryptocurrency. Additionally, it offers decentralized, scalable, and publicly verifiable data logs ensuring that all transactions and activities can be audited and verified without relying on a central authority.

The mechanism allows the network to achieve an impressive throughput of over 10,000 transactions per second. This is achieved by utilizing a unique algorithm that emphasizes speed and efficiency.

Hedera is continually expanding its ecosystem, offering a range of applications and developer tools. Recently, Hedera integrated LayerZero (ZRO), a technology that enables applications to move data across blockchains, into its network to enhance the Hedera Token Service (HTS). This will significantly boost the NSE’s offerings by making the exchange a hub for digital asset trading.

Bill Miller, Co-Chair of the Membership Committee for Hedera, highlighted in the report that the NSE possesses expertise and strong foundations in Africa. As one of the largest economies in Sub-Saharan Africa, Kenya offers an opportunity to accelerate the adoption of digital assets.

With a market capitalization of about $12.65 billion, daily transaction volumes exceeding $100 million, and 63 listed companies across 11 sectors, the NSE provides an ideal foundation for enhancing global capital markets.

Hedera’s advanced technology will enable the NSE to enhance global liquidity and improve access to financial services for African investors, while also strengthening its presence in the digital asset space.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

U.S. TREASURY REPORT PROPOSES CBDC REPLACEMENT FOR PRIVATE STABLECOINS

The U.S. Treasury Department has recommended replacing private stablecoins with government-issued CBDCs, citing concerns about the $120 billion in Treasury bills held as stablecoin collateral and potential market risks.

▪️U.S. Treasury released report suggesting stablecoins should be replaced by CBDCs

▪️Treasury estimates $120B in T-bills bought by stablecoin issuers, with Tether holding $81B

▪️Report warns of potential “fire-sale” risk if major stablecoins collapse

▪️Over 80% of crypto transactions involve stablecoins, with USDT leading in trading volume

▪️Trump opposes CBDCs but his project World Liberty Financial plans to launch a stablecoin

The U.S. Treasury Department has called for the eventual replacement of private stablecoins with government-issued central bank digital currency (CBDC) in a detailed report released Wednesday.

The report highlights mounting concerns over the stablecoin market’s growing influence in the U.S. Treasury bills market.

According to the Treasury’s Office of Debt Management, stablecoin issuers now hold approximately $120 billion worth of Treasury bills as collateral.

Tether, the company behind the USDT stablecoin, accounts for $81 billion of these holdings, making it a major player in the T-bills market.

The 132-page report draws parallels between the current stablecoin landscape and the “wildcat” banking era of the 1800s, when private banks issued their own currencies.

The Treasury suggests that just as government-backed money replaced those private currencies, CBDCs should take over the role currently played by stablecoins in digital transactions.

Stablecoins have become essential to cryptocurrency markets, serving as a bridge between traditional and digital finance.

The Treasury estimates that these digital assets are involved in more than 80% of all crypto transactions. USDT, the largest stablecoin by market volume, processed $53 billion in trades within a 24-hour period.

The report expresses particular concern about the risk of stablecoin depegging events, where these digital currencies lose their intended one-to-one relationship with the U.S. dollar. Several such incidents have occurred in recent years, raising alarm bells about market stability.

The Treasury’s primary worry centers on the possibility of a “fire-sale” scenario. If a major stablecoin issuer like Tether were to face a crisis, it might need to quickly sell its T-bill holdings, potentially disrupting the broader Treasury securities market.

While stablecoin advocates argue that these products enhance dollar dominance by increasing demand for Treasury bills, the report indicates that the Treasury views this relationship differently.

The department suggests that the growing interconnection between stablecoins and traditional financial markets through T-bill holdings poses unnecessary risks.

The political landscape surrounding digital currencies has grown increasingly complex. Several Republican lawmakers have voiced opposition to CBDCs, labeling them as potential tools for government overreach.

Former President Donald Trump has been particularly vocal in his criticism, promising to block CBDC development if reelected.

However, the situation has additional layers of complexity. Trump’s own crypto project, World Liberty Financial, which recently raised $14 million, is reportedly developing a stablecoin.

This project’s team has promoted private stablecoins as a way to support T-bill purchases and strengthen dollar supremacy.

The Treasury report acknowledges that stablecoins currently represent a relatively small portion of the overall T-bills market. However, it warns that continued growth could increase the risk of market disruptions if stablecoin-related instability occurs.

The document provides detailed data about the current state of stablecoin holdings. Beyond Tether’s $81 billion position, other stablecoin issuers collectively hold tens of billions in Treasury securities as backing for their digital currencies.

The report examines various stablecoin failures and depegging events from recent years, using these incidents to support its argument for transitioning to CBDCs.

These examples serve as cautionary tales about the potential risks of allowing private digital currencies to become too deeply embedded in the financial system.

Trading volume statistics included in the report underscore the growing importance of stablecoins in crypto markets. The data shows that stablecoin trading volumes often exceed those of traditional cryptocurrencies like Bitcoin.

@ Newshounds News™

Source:  Blockonomi

~~~~~~~~~

🌱 KIM CLEMENTS SAW THE NEXT 2024 NOV. 2024  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

More News, Rumors and Opinions Thursday PM 10-31-2024

KTFA:

Clare:  Al-Sudani's advisor identifies 3 priorities for the Iraqi economy: We are working on a new approach

10/31/2024- Baghdad

The Prime Minister's Representative, Technical Advisor and Head of the Sovereign Loans Initiative, Mohammed Sahib Al-Daraji, confirmed today, Thursday, that the private sector is a fundamental pillar in the government's new economic plan, while pointing to the government's efforts to reduce the transfer of hard currency and support national projects.

Al-Daraji said in a speech during the first Iraqi Economic Forum that "the Iraqi government has begun taking real steps to support the Iraqi economy, as it has changed the philosophy of the economy that suffered from a lack of clarity in the economic vision for more than twenty years."

He pointed out that "the government is working on a new approach that considers the private sector a fundamental pillar and seeks to integrate its outputs into the national product," noting that "the government provides special support to the investment and business environment sectors, as it seeks to separate direct investment and provide an appropriate environment for the private sector to participate in projects. The government also encourages partnerships with foreign companies to demonstrate developments in the customs and tax system, such as unifying taxes and customs tariffs across regions, and exempting foreign companies from some special taxes."

He pointed out that "Iraq has begun to guarantee the private sector before international financial institutions through the Sovereign Guarantees Initiative, and has moved towards establishing an international market for carbon bonds to support project financing."

He pointed out the "three priorities of the Iraqi economy: localizing industries, integrating with global financial institutions, and developing competencies for the public and private sectors," adding that "the Iraqi market is open to global companies, especially in the construction and clean energy sectors, and that there is a trend to support the private sector through new legislation such as laws to protect intellectual property and partnerships between the public and private sectors."

He added, "The government supports the economy based on partnership with the private sector, with a focus on reducing the transfer of hard currency abroad.

He expressed his "hope that these conferences will produce outcomes that support the current government's orientations, which is the most attentive to the private sector and the most involved in decisions," noting "the presence of representatives from the private sector on the Development Fund's Board of Directors and within the Prime Minister's official delegations as a message of support for businessmen."   LINK

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Clare:  Al-Mashhadani is the new speaker of the Iraqi parliament

10/31/2024

Al-Mashhadani is the new speaker of the Iraqi parliament   LINK

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

Clare:  It aims to provide 25 electronic services.. Learn about the details of the (Baghdadna) platform

10/31/2024 Baghdad

Israa Al-Jawrani, Digital Media Officer at the E-Governance and Communications Committee of the Baghdad Provincial Council, explained the details of the (Baghdadna) platform, noting that it aims to provide more than 25 electronic services.

Al-Jawrani said in a statement received by "Al-Eqtisad News", "The (Baghdadna) platform is the first of the future projects and plans in digital transformation and communications technology launched by the Governance and Communications Committee in the Baghdad Provincial Council, which aims to provide more than 25 electronic services to citizens via smart devices, which can be increased in all fields and sectors, including health, education, water and electricity, in addition to afforestation."

She added: “One of the priorities of the Baghdadna platform is how to deliver its use to residents of the outskirts of the capital, and then to the city center. After that, specialized volunteer teams will be formed in this field to teach how to educate citizens and use the platform, in addition to it including a service dedicated to the affected segments and groups in Iraqi society.”

Regarding other services that will be provided to the Baghdadi citizen through the platform, Al-Jourani said, “The near future will witness the launch of many services after completing 85% of the platform’s overall implementation.”

Regarding the mechanism of this platform’s dealing with regulations, wages, and financial collection, Al-Jourani indicated that “there will be a supervisory role over all government institutions and departments linked to the Baghdad Provincial Council, which will be obligated to implement and apply all decisions and services of the platform.”   LINK

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

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

Mnt Goat  There is NOT going to any “big lines” or celebrations in Iraq when they revalue in country. The only thing that will happen is that they will go on with life and know they have more purchasing power, but only after the reinstatement  happens...They are catching up to the rest of the developed world. Also, you must remember too that the government along with the CBI is constantly now telling the citizens they are going to raise the value of the dinar to the “glory days” of the dinar. [Post 1 of 2....stay tuned]

Mnt Goat   ...the CBI is now also broadcasting the videos they produced by the committee, in which my CBI contact told me earlier this year, were being produced and ready for showing, but back then we were told – not yet. Now they are being shown to the public. Yes, it is time and so yet another clue things are close...If you talk to almost any citizens now in Iraq, they will tell you that they expect this event to happen soon.    [Post 2 of 2]

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

Or the price on the budget will go for $70-$40 To work with the budget

Nader:  10-31-2024

https://www.youtube.com/watch?v=WOn41kXdf0w

Countries That Have Revalued or Adjusted Their Currency - IQD Compared

Edu Matrix:  10-31-2024

Countries That Have Revalued or Adjusted Their Currency - IQD Compared Case Studies of Currency Adjustments that have taken less than ten years.

Why Iraq is going on a 20-year wait, and how Vietnam is on a 50-year wait timeframe. How investors have used the "buy and hold" investment strategy to make huge profits in exotic currencies.

https://www.youtube.com/watch?v=14hzNw1RZKE

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 10-31-24

Good Afternoon Dinar Recaps,

US TREASURY DISCUSSES THE TOKENIZATION OF TREASURIES

During Tuesday’s meeting of the US Treasury’s Borrowing Advisory Committee, the members explored the topic of tokenizing US Treasuries. It discussed the impact of stablecoins on the demand for short term Treasuries, concluding that the effect is marginal.

The presentation covered the use of tokenized Treasuries as a safe haven in the digital asset sector. And finally, it focused on how blockchain and tokenization could improve Treasury market operations, including the benefits, costs and risks.

Stablecoins
Our calculations show the combined US Treasury and repo holdings of the two largest stablecoins, Tether and USDC as $120 billion in June 2024. Putting them on a list of the largest foreign country investors would rank them (combined) in the eighteenth spot. Yet given the total size of Treasury issuance, the figure is indeed marginal.

However, the presentation raised the concern that a collapse of a “major stablecoin like Tether could lead to a fire sale of short-dated Treasuries.”

Some other comments on the stablecoin front might be viewed as controversial by the crypto sector.

For example, it states “In a similar manner to how privately-issued ‘wildcat’ currencies were replaced by government-backed central currencies in the late-1800s, Central Bank Digital Currencies (CBDC) will likely need to replace stablecoins as the primary form of digital currency underpinning tokenized transactions.”

It also notes that “History shows that ‘private currency’ that does not meet NQA requirements leads to financial instability and as such is highly undesirable.”

 NQA refers to no questions asked, in the sense that the recipient should not need to perform due diligence before receiving a stablecoin. Both quotes referenced a paper, “Taming Wildcat Stablecoins.”

The importance of intraday for tokenized Treasuries?
When discussing the potential for tokenizing Treasuries, there were some curiosities. Firstly, the presentation outlined the potential benefits, which include:

▪️Improvements in clearing and settlement
▪️Improved collateral management
▪️Improved transparency and accountability
▪️Composability and innovation
▪️Increased inclusion and demand? (fractionalization)
▪️Increased liquidity? (including 24/7)

While ‘intraday’ repo was mentioned in a description of JP Morgan’s repo platform, it was not explicitly covered in the list of advantages. Of course, the enablement of intraday transactions is a direct side effect of improvements in clearing, settlement and collateral management that were mentioned.

Intraday allows banks to use repo to borrow and lend for an hour or two, rather than having to wait for T+1 settlement. Repurchase agreements (repo) involve the temporary transfer of securities in exchange for cash, with the transaction reversed a short while later, plus a small amount of interest. 

We’re emphasizing the point because the importance of intraday to traditional financial institutions may be underappreciated in government circles. In a recent speech by Federal Reserve Governor Waller, he emphasized the potential for 24/7 repo. Yet within the industry, intraday is considered far more important than the ability to trade 24/7.

Treasuries and tokenization platforms
A list of tokenization platforms were presented, including JP Morgan’s intraday repo platform. However, there was no mention of Broadridge’s Distributed Ledger Repo (DLR). If someone asked Ledger Insights to state the most important platform in Treasury tokenization right now, it would be Broadridge’s DLR.

The total amount of tokenized Treasury funds on public blockchain is around $2 billion. DLR is used for $1 – $1.4 trillion in transactions per month, whereas JP Morgan’s platform has processed roughly $1.5 trillion since its launch in 2020. One would not expect JP Morgan’s solution to be of the same scale as DLR since it purely serves JP Morgan clients.

DLR has several purposes, with intraday repo as the main one. It also supports sponsored repo via the DTCC’s FICC platform. DLR and JP Morgan’s repo platform already achieve many of the advantages explored during the presentation. However, today they are tiny compared to the scale of the Treasury market.

The conclusion was that a tokenized Treasury platform would ideally be on a private permissioned blockchain managed by a trusted government authority.

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

Pound Sterling Suffers Biggest Drop in 18 Months Amid Reeves' Tax-and-Spend Storm

Following the latest budget reveal, the pound sterling has taken a sharp tumble, fueled by mounting worries about the U.K.’s fiscal outlook. Chancellor Rachel Reeves’ decision to pump £70 billion into government spending—funded through additional borrowing—has stirred up significant unease among investors. They’re concerned this move could lead to higher inflation and escalating interest rates.

@ Newshounds News™

Read more:  Bitcoin News    

~~~~~~~~~

FRANKLIN TEMPLETON LAUNCHES TOKENIZED MONEY FUND ON BASE

Franklin Templeton says this is the first tokenized money fund to launch on Coinbase's layer-2 network.

Franklin Templeton is launching its tokenized money fund on Base, Coinbase’s layer-2 network, the asset manager said on Oct. 31.

The Franklin OnChain US Government Money Fund (FOBXX) is the first tokenized fund to launch on Base, Franklin Templeton said in a post on the X platform.

Created in 2021, FOBXX has previously launched on blockchain networks including Stellar, Polygon, and Arbitrum.

Franklin Templeton is unique among tokenized fund managers in outsourcing a meaningful portion of reporting requirements — such as share ownership records typically handled by an off-chain transfer agent — to blockchain networks’ public ledgers.

“We are currently the only product with the ability to use public distributed ledger technologies for official transaction record-keeping,” Roger Bayston, Franklin Templeton’s head of digital assets told Cointelegraph in July.

The launch of FOBXX on Base indicates United States regulators consider Base’s public ledger to be a legitimate instrument for financial recordkeeping.

Franklin Templeton’s FOBXX currently has net assets of approximately $435 million and has been generating annualized returns of about 4.7% as of October 2024.

It is accessible through Franklin Templeton’s Benji Investments platform.

The Base launch marks Franklin Templeton’s latest effort to enhance the accessibility of its tokenized real-world assets (RWAs).

Since its 2023 launch, Base has emerged as Ethereum’s second most popular layer-2 scaling solution, with a total value locked (TVL) of approximately $8 billion, according to L2Beat.

Arbitrum leads with upwards of $13 billion in TVL, the data shows.

Tokenized RWAs — from money funds to artworks — represent a $30-trillion market opportunity globally, Colin Butler, Polygon’s global head of institutional capital, told Cointelegraph in August.

Demand is surging for products that tokenize T-bills and other highly liquid yield-bearing assets.

FOBXX’s top rival is BlackRock USD Institutional Digital Liquidity Fund (BUIDL), with assets under management (AUM) of approximately $530 million, according to data from RWA.xyz.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

“Tidbits From TNT” Thursday 10-31-2024

TNT:

Tishwash:  The private sector has begun a new phase

Dr. Murtadha Al-Khafaji, a member of the Iraqi Businessmen Union, stated that the Iraqi private sector has begun a new phase that is different from the previous one, and it has become possible to rely on its capabilities to implement projects.

Al-Khafaji said: The projects implemented by the Iraqi private sector indicate the potential of local effort, which has become comparable to global effort, as local capabilities have been developed during the last decade. He added that Iraqi human resources have gained a lot of experience, through interaction with global expertise, which has worked in more than one economic aspect. He pointed out that national companies must occupy the appropriate place within the local labor market.  link

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

Tishwash:  Call to establish a digital gold market in Iraq

The economic and financial expert, Dr. Saif Al-Halfi, called for the establishment of a digital gold market in Iraq, the establishment of which requires cooperation between the Central Bank of Iraq, the Securities Commission, and the Iraq Stock Exchange, as it provides Iraqi investors with the opportunity to participate in the global gold market, which attracts additional investments to Iraq, and also enhances cooperation between the Iraqi banking system and international financial institutions.

Al-Halfi said that the Central Bank can issue digital gold bullion in different weights: 1 gram, 10 grams, 100 grams, approved by the government. These digital bullion can be traded on the Iraq Stock Exchange in the same way that stocks or bonds are traded, and through the market’s financial intermediaries system, where investors can buy bullion using local currencies or convert them into foreign currencies. 

He added that the market can be linked to global gold prices and currency exchange rates, which enhances transparency and interaction with the global market. A platform similar to the Forex markets can also be used to trade digital gold inside Iraq in the Iraq Stock Exchange, noting that gold prices will be determined according to global exchange rates for gold and foreign currencies. This will allow investors the opportunity to speculate on gold price fluctuations and link them to changes in global currency prices, which increases profit opportunities and creates many job opportunities.

Regarding the economic benefits, Al-Halfi said: Through this market, liquidity is withdrawn from the banking system, and the digital gold market can act as a tool to withdraw cash liquidity. Instead of keeping money in banks, investors may prefer to buy digital gold, which is a safe asset that maintains its value, protects the investor’s money from high inflation rates, reduces the money supply, which is the goal, and limits inflation.

He pointed out that the digital gold market contributes to diversifying the Iraqi economy, away from the traditional reliance on oil. The market can be a platform to encourage financial innovation and develop new investment tools, especially exploiting the opportunities of the Faw Port entering operation next year, and what it provides in terms of a large base for investors, especially individuals and companies, as well as the goal we seek on the path of development.

He pointed out that establishing a digital gold market requires a strong technical infrastructure, including secure electronic platforms and clear regulatory laws to protect investors’ rights. This will increase job opportunities, the ability to diversify and innovate, and the emergence of a start-up culture.

Al-Halfi explained that the digital gold markets aim to enhance transparency and ease in gold trading, and provide investors with a real opportunity to work, trade and speculate on gold prices without the need to own actual gold. When the investor wants to convert gold into bullion or jewelry, these foundations allow him to convert digital gold into bullion while paying mining and crafting fees. All of these products create real and comprehensive investment business opportunities, which creates and enhances a flexible and innovative investment environment in Iraq. 

Gold is one of the financial assets that has always been a safe haven for investors, especially in times of economic, political and regional turmoil. Here, with the global digital and financial development, new markets have emerged for digital gold trading, where gold can be easily bought and sold through electronic platforms. In light of these developments, it is possible to create a market for digital gold trading in Iraq, especially with the government’s trend towards establishing digital banks and strengthening electronic payment systems, especially the use of electronic payment cards.  link

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

Prime Minister's Advisor: Iraq is moving towards strengthening partnership with foreign companies and stimulating investment

The Prime Minister's Representative, Technical Advisor and Head of the Sovereign Loans Initiative, Mohammed Sahib Al-Daraji, confirmed today, Thursday, that the private sector is a fundamental pillar in the government's new economic plan, while pointing to the government's efforts to reduce the transfer of hard currency and support national projects.

Al-Daraji conveyed, in his speech during the first Iraqi Economic Forum, which was attended by the correspondent of the Iraqi News Agency (INA), "the greetings of Prime Minister Mohammed Shia al-Sudani and his support for this conference," explaining that "the Iraqi government has begun taking real steps to support the Iraqi economy, as it has changed the philosophy of the economy that suffered from a lack of clarity in the economic vision for more than twenty years."

He pointed out that "the government is working on a new approach that considers the private sector a fundamental pillar and seeks to integrate its outputs into the national product," noting that "the government provides special support to the investment and business environment sectors, as it seeks to separate direct investment and provide an appropriate environment for the private sector to participate in projects. The government also encourages partnerships with foreign companies to demonstrate developments in the customs and tax system, such as unifying taxes and customs tariffs across regions, and exempting foreign companies from some special taxes."

He pointed out that "Iraq has begun to guarantee the private sector before international financial institutions through the Sovereign Guarantees Initiative, and has moved towards establishing an international market for carbon bonds to support project financing."

He pointed out the "three priorities of the Iraqi economy: localizing industries, integrating with global financial institutions, and developing competencies for the public and private sectors," adding that "the Iraqi market is open to global companies, especially in the construction and clean energy sectors, and that there is a trend to support the private sector through new legislation such as laws to protect intellectual property and partnerships between the public and private sectors."

He added, "The government supports the economy based on partnership with the private sector, with a focus on reducing the transfer of hard currency abroad.

He expressed his "hope that these conferences will produce outcomes that support the current government's orientations, which is the most attentive to the private sector and the most involved in decisions," noting "the presence of representatives from the private sector on the Development Fund's Board of Directors and within the Prime Minister's official delegations as a message of support for businessmen  link

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Mot.. ""Opal"" Loves October - cause ~~~

Mot:  . He Knew She Knew - that He Knew She Knew - so He .....

Mot:  ... You Can Use Him fer 2 Months or More!!! 

Seeds of Wisdom RV and Economic Updates Thursday Morning 10-31-24

Good Morning Dinar Recaps,

SOME EU STATES UNHAPPY WITH ECB CONTROLLING DIGITAL EURO LIMITS – REPORT

Politico reported that some European states, including Germany, France, the Netherlands and six other countries, are concerned about the European Central Bank (ECB) having the right to specify holding limits for the digital euro central bank digital currency (CBDC).

A concern is that the ECB could set the wallet limits too high, resulting in deposits flowing out of banks. One diplomat called it a “battle for power” between central banks and politicians. 

An opposite worry is that the limits might be viewed as inhibiting financial freedoms and hence a Big Brother move. A related concern is that the digital currency could be out of touch with consumer needs and not adopted.

While the EU’s treaty gives the ECB certain privileges, the digital euro will have its own legislation, which has yet to be passed. 

Before the recent European elections, several amendments were proposed to a draft. Politico viewed the notes of one of the meetings, which showed that nine countries objected to the ECB deciding on wallet holding limits.

If the ECB sets the holding limit, it views this as preserving any decision from political pressures.

How would digital euro holding limits work?
A couple of key points were not covered in the Politico piece. Firstly, the whole point of the digital euro is to create a pan European payment system in an attempt to dislodge the dominance of non-European players such as Visa and Mastercard. While SEPA may be pan European, it is purely a backend solution. Hence, it seems logical that there needs to be a single limit for the entire EU block.

If the ECB doesn’t get to decide, how would it work practically? An annual vote on limits?

Messy waterfalls
The messier point is the implementation of the holding limits. If the holding limit is €3,000 and someone receives money that pushes the balance over, then any excess funds will be swept into a bank account.

On the other hand, if someone makes a payment and doesn’t have enough digital euros in their wallet, it can automatically pull the money from the connected bank account. These are the waterfall and reverse waterfall functions.

This has a few implications. At a practical level, some people like to keep tabs on how they spend money. If there’s a lot of movement between your bank and the digital euro wallet, that gets rather messy and hard to track. A lack of visibility also helps fraudsters.

Changing tack, one of the potential advantages of a CBDC is it could provide super efficient payments. However, with the waterfall and reverse waterfall, some payments could have three payment legs: the sender doesn’t have enough funds so it pulls money from their bank; the CBDC payment; and the recipient now has too much in their wallet, so that’s swept into their bank account.

That’s why several countries believe there will be pressure to provide higher limits, so there’s less need to use the waterfall functionality.

Some have noted that the waterfall also requires all banks in the EU to support real time payments 24/7, involving significant work. However, EU instant payment regulations were adopted earlier this year, so that will be a requirement with or without the digital euro.

Debates around setting the holding limit
In one of the more recent legislative proposals, it was suggested that banks and payment providers could set the limits themselves. The Dutch central bank published a digital euro paper concluding that holding limits would be critical, especially during the transition phase.

 Another report commissioned by the European Banking Federation found a €3,000 limit with a 40% takeup would increase bank funding costs by €8.8 billion.

For its part, the ECB says it would set the limits based on the economic circumstances at launch. However, one of the tasks it’s been working on recently is coming up with a methodology to make the decision.

@ Newshounds News™

Source:  Ledger Insights

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STABLECOINS WILL THRIVE OVER CBDCS: CIRCLE CEO

Jeremy Allaire believes most governments are open-minded toward crypto and stablecoin regulations.

Speaking at the current Binance Blockchain Week in Dubai, the CEO of Circle, the issuer of the second-largest stablecoin, expressed optimism regarding global regulation toward the sector.

He also asserted that people would prefer privately-issued stablecoins over government-launched CBDCs, which has been evident in China.

Allaire spoke a lot about the current regulatory environment in numerous countries and outlined the overall positive sentiment coming from most. In fact, he noted that even those who have been publicly against the sector or sitting on the sidelines, are actually watching carefully what others would do and are ready to follow suit with comprehensive regulations.

He believes the next 12 months will be crucial for the stablecoin space, which has already grown to roughly $170 billion, with Tether’s USDT and Circle’s USDC responsible for the lion’s share.

However, Allaire noted that this is still a fraction of the global financial space, which is hundreds or even thousands of times larger. This means that the stablecoin industry still has lots of room for growth.

On the question whether the majority of global population will prefer central bank digital currencies or stablecoins, Circle’s CEO was adamant that they will go for the latter.

This is because people prefer privately-issued products and the innovation coming from them, rather than government-backed alternatives.

He outlined China as a good example. The world’s most populated nation launched its own CBDC a few years ago, but is yet to see actual usage, according to Allaire. He said people only use it once the government provides free coupons.

@ Newshounds News™

Source:  CryptoPotato

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🌱TOP QUESTIONS ABOUT EXCHANGING FOREIGN CURRENCY ANSWERED! SOWT   |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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News, Rumors and Opinions Thursday AM 10-31-2024

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 fro the Restored Republic via a GCR: Update as of Thurs. 31 Oct. 2024

Compiled Thurs. 31 Oct. 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Wed. 30 Oct. 2024 Wolverine: Looks like this is it everyone! 

Things have started in certain places. Some Bond Holders have already got notifications with appointments on Monday. Some Bond Holders already have notifications for tomorrow. 

Tier4b (us, the Internet Group) should be getting notifications for the currencies today Wed. 30 Oct, from 6 pm RENO time onwards. 

All needs to be done before the election.

I have been assured all is ready to go 

I received this info from Brazil Tues. 29 Oct. 2024: Tier4B internet group is officially active. It is a great honor to announce the Launch of the Tier4B internet Group. The use and unification under Tier4 ensure that all systems are flawless.  

We are waiting for the determination of the Wells Fargo National Bank Association, which is the guardian of these resources. Miguel Ribeiro is one of these people. The release of funds by the BC, requires authorization determination by Wells Fargo Bank which can happen at any time. The authorization has already arrived since 4 pm and all good to go from tomorrow (October 30, 2024).

I received a call from a close friend of mine and things are moving on his side, and hopefully, we will get 4B notifications.

Wed. 30 Oct. 2024: Tier4b funds released in Brazil.

On Fri. 1 Nov. 2024 Texas, the possible site of the new US Republic Capitol, was going to gold-backed currency.

On Wed. 30 Oct. 2024 Joanna Morning Star: “I was on the phone with Chief Fast Horse and his guest, Robert.  Chief Fast Horse was driving to a private plane hangar they have in Santa Barbara to then fly over to the Hopi reservation in Sedona, Arizona.  So yeah, this is cool. Humanitarian work is commencing.  Chief says the RV would never work when the US was a corporation.  He says they are now dispersing the funds because we are in the new Republic. Wanted to share the good news.” 

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Global Financial Crisis:

Wed. 30 Oct. 2024 US Banks were sitting on $750 Billion in Real Estate losses, seven times larger than total during the Global Financial Crisis.

Wed. 30 Oct. 2024: The U.S. Treasury plans to borrow nearly $1.4 trillion over six months, with $546 billion from October to December and $823 billion from January to March next year, reflecting rising debt and fiscal challenges. With the national debt nearing $36 trillion and interest payments consuming a growing share of federal revenues, economists warn the debt outlook remains uncertain, with no stabilization expected by 2029.

Read full post here:  https://dinarchronicles.com/2024/10/31/restored-republic-via-a-gcr-update-as-of-october-31-2024/

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

Frank26  [Iraq boots-on-the-ground report]   FIREFLY:
CBI saying they have plans in place to cancel out the dollar auctions soon because there is still corrupt in these transaction.   FRANK:  That is correct.  Sudani is removing the auctions from the CBI because that's where all the stealing was occurring. The auctions will no longer be in the control of the banks but in control of Sudani of the GOI...Sudani is not playing any more games. You are about to have your purchasing power as he promised you...

Mnt Goat  Remember about the Cash Center that recently opened to receive the stashes and hordes of dinars. The first point is these were dinars NOT dollars...These are NOT exchange centers. They are simply depositing their hoards of dinars in the bank and putting them into electronic form...They are staying in dinars, NOT U.S. dollars... these centers  show us some success of just the beginning stages of the process to delete the zeros. This is part of the process is to collect  these stashes of notes. These are not only needed for liquidity in the banks but also to coincide with the shrinking of the monetary mass that is needed to raise the rate of the dinar, when they do pull the trigger on the higher “official” CBI rate in- country.  

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Putin Pushes For NEW International Payment System: What Is It And How Does It Work?

GeoFlux:  10-30-2024

In a bold move, Russian President Vladimir Putin is pushing for a new international payment system that could potentially reshape the global economic landscape.

The proposed BRICS Pay System, backed by the expanding BRICS group, aims to challenge the dominance of the US dollar and provide an alternative to the Western-controlled SWIFT system.

Built on blockchain technology, this system promises faster, cheaper, and more secure transactions in member nations' currencies.

The development of the BRICS Pay System is part of a broader trend of de-dollarization, as countries seek to reduce their reliance on the US dollar in international trade. This shift could lead to significant changes in global trade patterns, financial power dynamics, and economic governance.

While the BRICS Pay System faces significant challenges, such as economic disparities among member nations and regulatory hurdles, it presents intriguing opportunities for investors.

As the global financial landscape evolves, staying informed about these developments will be crucial for navigating the future of international finance.

https://www.youtube.com/watch?v=DuNPj0FBWPU