Seeds of Wisdom RV and Economic Updates Monday Afternoon 12-16-24

Good Afternoon Dinar Recaps,

RIPPLE'S RLUSD STABLECOIN LAUNCHING TUESDAY FOLLOWING MASSIVE XRP SURGE

The dollar-pegged Ripple USD (RLUSD) will begin trading Tuesday across Ethereum and XRP Ledger, Ripple said Monday.

Ripple will launch its U.S. dollar-pegged stablecoin called Ripple USD (RLUSD) on Tuesday, the company announced Monday.

Backed by U.S. dollars, U.S. government bonds, and cash equivalents, Ripple said that the token will initially trade on platforms including MoonPay, Uphold, Bitso, Archax, and CoinMENA. RLUSD will be available across Ethereum and XRP Ledger, Ripple added.

The anticipated launch follows a recent surge in the value of XRP, the token created by Ripple's co-founders that is used in the firm's payments services. XRP jumped to a seven-year high price of $2.82 earlier this month, and remains up by 122% over the last 30 days at a current price of $2.45, per data from CoinGecko.

RLUSD’s debut comes amid growing demand for stablecoins, which have found notable use in areas like remittances and decentralized finance, or DeFi. This year, the total market cap of stablecoins has ballooned to over $200 billion, a steep increase from $130 billion in January, according to DeFiLlama.

Stablecoins are meant to track a fiat currency’s price, such as the U.S. dollar’s, but Ripple’s Chief Technology Officer, David Schwartz, issued a recent warning. Some pre-market bids for RLUSD valued the stablecoin as high as $1,244, a price that he said should come back down.

The first stablecoin was launched over a decade ago, but companies outside the crypto space may just have started dipping their toes. 

The payments giant PayPal launched its PYUSD stablecoin last year, and a group of firms, including Robinhood, announced plans just last month to support a Global Dollar stablecoin (USDG) issued by Paxos.

Ripple said its stablecoin will be regulated by the New York Department of Financial Services, which issued the company a limited purpose trust company charter. The charter, first issued to a crypto firm in 2015, effectively makes Ripple’s product subject to New York banking laws.

Ripple said it will publish third-party attestations, providing insight into the stablecoin’s backing, each month via an independent auditing firm, for the sake of transparency.

As of now, stablecoins are subject to a patchwork of regulations in the U.S. that can vary state by state, even though the NYDFS framework has inspired states like California.

 Lawmakers have, however, discussed the merits of regulating stablecoins federally since legislation was introduced by Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY) in 2022.

Last year, the U.S. House Financial Services Committee passed the "Clarity for Payment Stablecoins Act of 2023.” But the bill that would provide a framework for regulating stablecoins still needs to be passed in the House and Senate. That could involve a period of bargaining and more debate, Circle’s Vice President, Yam Ki Chan, previously told Decrypt.

While the 118th Congress will end in less than three weeks, leaving lawmakers with little time to pass legislation, Democrats and Republicans had expressed optimism that a stablecoin framework could be passed in 2024. Congress’ next session will begin January 3.

@ Newshounds News™

Source:  Drcrypt

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BANK INDONESIA COMPLETES PROOF OF CONCEPT FOR DIGITAL RUPIAH: WHAT’S NEXT?

Indonesia has completed the first phase of its digital Rupiah project, advancing towards a central bank digital currency.

Bank Indonesia has achieved a significant milestone in exploring a central bank digital currency (CBDC). It completed the Proof of Concept (PoC) for the Wholesale Rupiah Digital (wRD) Cash Ledger.

This achievement marks the conclusion of the first phase of Project Garuda, a groundbreaking initiative to develop a digital Rupiah. It aims to make the digital Rupiah a legal tender central to the country’s financial modernization efforts.

What Is Next for CBDC in Indonesia?

Governor Perry Warjiyo emphasized in the whitepaper that the digital Rupiah represents Bank Indonesia’s proactive response to the rapid transformation of the financial landscape. Moreover, the regulator wants to be a single issuer of a state digital currency.

The project seeks to create a unified and interconnected ecosystem capable of supporting diverse financial transactions while safeguarding the integrity of the Rupiah.

The design of the digital Rupiah focuses on interoperability, ensuring seamless integration across various platforms and systems.

With it, Indonesia aims to strengthen its financial infrastructure by adopting it all across its monetary sovereignty.

Insights from the Proof of Concept

The PoC phase explored three fundamental business processes critical to implementing the Wholesale Rupiah Digital: issuance, redemption, and fund transfer.

These processes were tested using two advanced distributed ledger technology (DLT) platforms:

Corda, developed by R3
Hyperledger Besu, created by Kaleido
Over 55 test scenarios evaluated the platforms’ suitability for the wRD business model, focusing on resilience, privacy, speed, scalability, and fault tolerance.

Fransiskus Xaverius Tyas Prasaja, an economist at Bank Indonesia, highlighted that the technical success of the PoC validated DLT’s potential to meet the rigorous demands of the Rupiah Digital framework.

Corda employs a central notary system to validate transactions. It ensures integrity through a directed acyclic graph interconnecting transaction data.

Meanwhile, Hyperledger Besu leverages a proof-of-authority mechanism with multiple validators, maintaining data integrity within a blockchain-based structure.

Notably, integrating smart contracts also emerged as a key innovation during the PoC phase. These programmable agreements enhanced transaction efficiency and offered greater flexibility.

Moreover, the PoC demonstrated that DLT platforms can seamlessly integrate with conventional financial systems through ISO 20022 standards. It ensures compatibility with existing frameworks while enabling connectivity with other distributed systems.

Transparency has been a cornerstone of Project Garuda’s development. Bank Indonesia released a comprehensive whitepaper titled “Project Garuda: Navigating the Rupiah Digital Architecture,” detailing the project’s phased approach.

The PoC represents the first phase, laying the groundwork for the Intermediate State, where operationalization and scaling will take center stage.

Deputy Governor Juda Agung also stressed the importance of these findings. He stated that the insights gained from this phase will serve as a foundation for refining the digital Rupiah’s business and technical dimensions.

“The success and various insights from this proof of concept will form the foundation for strengthening the business and technical aspects of the Rupiah Digital in the future.”

The next steps will focus on operational readiness, scalability, and ensuring that the digital Rupiah is equipped to serve the entire Indonesian population.

@ Newshounds News™

Source:  CryptoNews

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ELON MUSK'S SEC FEUD SPARKS OUTRAGE: RIPPLE, RAMASWAMY, PALIHAPITIYA SLAM CORRUPT TACTICS

Elon Musk’s SEC battle has drawn criticism from Ripple’s legal chief, Vivek Ramaswamy, and Chamath Palihapitiya, who accuse the regulator of corruption, coercion, and partisan overreach.

SEC Faces Backlash Over Elon Musk Case: Ripple’s Legal Chief Weighs in

Elon Musk’s ongoing battles with the U.S. Securities and Exchange Commission (SEC) have sparked fresh debates over the agency’s enforcement tactics, drawing commentary from political and business figures including Ripple Chief Legal Officer Stuart Alderoty, venture capitalist Chamath Palihapitiya, and politician Vivek Ramaswamy.

Musk shared a letter on his social media platform X on Thursday from his attorney, Alex Spiro, accusing the SEC of a years-long harassment campaign against Musk and his companies. Spiro claimed the SEC has issued a 48-hour settlement ultimatum, threatening fines or charges, allegedly driven by higher-level directives.

The letter also referenced a new SEC investigation into Neuralink and a subpoena against Spiro under coercive threats, demanding clarity on whether the SEC’s actions stem from internal or external influences like the White House.
Palihapitiya weighed in on the broader implications of SEC actions, criticizing the agency’s use of taxpayer resources. He wrote on X:

This is ridiculous. Why does the SEC think they can continue to waste government resources (ie our money) so uselessly?!?!? Without a reasonable check and balance, partisan bureaucrats will continue to use lawfare to create foot faults and slow down people they don’t agree with.

“And if you don’t happen to have the resources Elon has, you will be screwed. I hope people appreciate how corrupt this all is,” he warned.

Ramaswamy, recently appointed alongside Musk to lead the Department of Government Efficiency (DOGE), accused the SEC of undermining public trust. “Here’s the worst part: the SEC regularly loses case after case in federal court because they contort their rules in illegal & unconstitutional ways,” Ramaswamy wrote, adding that their actions weaken faith in the rule of law.

Ripple’s chief legal officer joined the discussion, replying to Ramaswamy:

Ripple exposed the SEC’s lawless tactics early on. As the court said in our case: ‘The SEC is adopting its litigation positions to further its desired goal, not out of a faithful allegiance to the law.’ The question isn’t whether the SEC under Gensler is rogue—it is. The question is how we hold them accountable?

Meanwhile, a shakeup at the SEC is underway as Gary Gensler prepares to step down as Chair, signaling a potential shift in the agency’s regulatory approach. 

Gensler, known for his hardline stance on cryptocurrency and financial regulations, will leave his post in January 2025. His successor, Paul Atkins, is a former SEC commissioner and a proponent of more lenient regulation, particularly in the crypto space.

Atkins’ nomination by President-elect Trump has sparked debate, with industry insiders anticipating a friendlier environment for digital assets while critics warn of reduced oversight. The transition could redefine the SEC’s priorities, pending Senate confirmation of Atkins.

@ Newshounds News™

Source: Bitcoin News

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PRESIDENT-ELECT DONALD TRUMP SAYS, “WILL BE DOING SOMETHING GREAT WITH CRYPTO.”

|  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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De-Dollarization, 2 Countries Settle $37 Billion in Local Currencies

De-Dollarization, 2 Countries Settle $37 Billion in Local Currencies

Geopolitical Analyst: 12-15-2024

As the geopolitical landscape shifts, the Commonwealth of Independent States (CIS) is making significant strides towards financial independence by advancing the use of local currencies in cross-border trade.

Comprising 12 member countries, the CIS is actively reducing its reliance on the US dollar, a trend that is reshaping trade dynamics and signaling a wider push among developing nations to establish alternatives to the world’s dominant reserve currency.

The de-dollarization initiative within the CIS has gained substantial traction, with projections indicating that around 80% of cross-border transactions among member states were settled in local currencies in 2024.

This notable shift underscores a comprehensive strategy aimed at diminishing the influence of the US dollar and bolstering the financial sovereignty of CIS countries. Recent trading activities reveal that only 20% of payments in the region involved the dollar, showcasing a marked decrease in dollar-denominated transactions and reflecting the growing efficacy of this de-dollarization agenda.

In a bold move indicative of this trend, Russia and Belarus have forged a robust trading partnership, with trade deals surpassing the $37 billion mark in 2024, representing an impressive increase of 8.4% year-on-year. The numbers tell a compelling story: as these nations deepen their economic ties, they are simultaneously advancing a broader ambition shared by many developing countries to elevate local currencies within the global trade framework.

The impetus for this pivot towards local currencies predominantly stems from sanctions imposed by the United States on both Russia and Belarus. In response, these nations have embraced mutual trading agreements in local currencies, seeking to fortify their economies and sustain trade relationships despite geopolitical pressures.

This initiative illustrates a significant shift, where financial strategies are being recalibrated to mitigate challenges posed by reliance on external currencies, particularly the US dollar.

“The payments in local currencies stem from the sanctions pressed by the White House against Russia and Belarus,” remarked Russian President Vladamir Putin. By adopting this approach, both nations aim not only to preserve economic stability but also to set a precedent for other developing countries that share similar aspirations of reducing dollar dependency.

The CIS’s commitment to local currencies is echoed by a growing sentiment among its members. With 80% of trade settlements occurring in local currencies this year, the bloc is at the forefront of a regional revolution that could influence global trade practices.

The ramifications of this shift extend beyond the CIS, with developing economies worldwide observing the progress with keen interest. Many are following suit, aspiring to reshape the traditional balance of currency reliance in international trade.

According to Belarusian President Alexander Grigoryevich, the trade trajectory between Russia and Belarus is clear. With trade figures forecasted to meet or even exceed expected levels by year’s end, the integration between these two nations serves as a model for others. “This forecast, I believe, is right on the money,” Putin stated, emphasizing the positive outlook for continued bilateral trade growth.

As the CIS navigates its path towards de-dollarization, the implications for global finance are profound. The bloc’s success could inspire a broader movement among other nations, particularly in the developing world, to challenge the long-standing dominance of the US dollar.

With the practical use of local currencies on the rise and trade partnerships being fortified, the shift represents not just a financial strategy but also a pivotal step towards economic resilience and independence for member nations.

As we look ahead, the developments within the CIS and similar initiatives around the globe will be crucial in determining the future landscape of international trade and finance. If the current trends continue, we could indeed witness a paradigm shift, with local currencies gradually stepping into the spotlight, challenging the centuries-old supremacy of the dollar in global markets.

https://youtu.be/L5e4mPgtFG4

News, Rumors and Opinions Monday 12-16-2024

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 Mon. 16 Dec. 2024

Compiled Mon. 16 Dec. 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Judy Note: No one knows the exact timing for notification of Tier 4b (Us, the Internet Group) to make their redemption/exchange appointments

Sat. 14 Dec. 2024 Fallawosophy: I’ve heard good news about movement in the RV. All info that I cannot share. It looks like 4b should kick off Monday.

Sat. 14 Dec. 2024 Sunny: We got early morning message from Reno and group leader. I’m just copy paste. “The money is there. It’s just logistical issues”

Sun. 15 Dec. 2024 Ginger’s Liberty Lounge: I just received information from Zurich people who were processed in Tier 3. In America, it will start in Miami and then Reno. I was told very clearly that it is now an absolute fact that it has started. People with Tier 3 appointments have disappeared – along the lines of, “See you on the other side”! Tip: IF you hold XRP, take your cold wallet with you to your redemption appointment because while you’re there, an extremely handsome offer may be given to you to purchase your XRP. I’m not permitted to disclose how much

Sun. 15 Dec. 2024 Militia Man: A law was passed in 2023 that says as of Sun. 15 Dec. 2024 all crypto currencies worldwide have to be on a ledger and gold backed or they won’t be worth anything. MM&C-Iraq Dinar News-CBI Eliminate Black Market-Investment Climate Strong-Basra Meeting Ambassadors

Sun. 15 Dec. 2024 Wolverine: “It’s coming. Believe in that. We’ll have a beautiful, beautiful Christmas. We’re ready. God Bless You.”

As of Mon. 16 Dec. please be alert for possible notifications, Gesara in nine countries. …Frank 26

On Tues. 17 Dec. Iraq will pay their employees in the Dinar official new rate. Iraqi auctions on the new Dinar Rate end on Mon. 16 Dec.…A2Zangela on Telegram

On Tues. 17 Dec. the Kurdistan Region will pay their employees for October 2024. …A2ZDreamZ on Telegram

Sat. 14 Dec. 2024: INTEL: Quantum Financial System, Global Currency Reset, and the Med Beds 5D ~ Trust the Plan! – amg-news.com – American Media Group

Read full post here:  https://dinarchronicles.com/2024/12/16/restored-republic-via-a-gcr-update-as-of-december-16-2024/

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

Walkingstick  The auctions were for the purpose to maintain the exchange rate of the Iraqi dinar.  For no other reason, period, end of story.  So there will be no more foreign currency?  No more USD?  Then what else are they going to use?  The lower notes.

Frank26  As we get close to walk through this [RV/RI/Rate change] door I want you to remember that there will always be cockroaches in the crawl space.  There will always be cockroaches in the government of Iraq.  There will always be troublemakers.  You will always see eruptions.  You'll always see the Super Man Sudani with a big S on his chest that will put those volcanoes out...

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Ron Paul: U.S. Debt Liquidation Next, ‘Biggest Bubble Of All History’ Must Pop

David Lin:  12-15-2024

Ron Paul, Host of The Liberty Report and former Congressman, discusses the impact of the Department Of Government Efficiency on spending, the root causes of problems in the economy, and economic priorities for the Trump Administration.

0:00 - Intro

1:10 - DOGE

3:00 - Root of deficit problem

 5:23 - The President on the Fed?

 8:41 - Auditing the Fed

10:41 - Liquidation of debt

 13:42 - Downsizing the government

17:00 - Balancing the budget

20:22 - Tariffs and trade policies

25:12 - Biggest economic problem

https://www.youtube.com/watch?v=3RuZpr50_Aw

Seeds of Wisdom RV and Economic Updates Monday Morning 12-16-24

Good Morning Dinar Recaps,

XRP NEWS: RIPPLE CTO WARNS OF EARLY RLUSD SUPPLY SHORTAGES AND PRICE VOLATILITY

XRP Price Today: XRP trades at $2.41, with bullish market sentiment as the community eagerly anticipates the RLUSD stablecoin launch.

Ripple CTO warns against FOMO as RLUSD launch may see prices briefly spike above $1 before stabilizing. Stablecoin's purpose is price stability.

Ripple’s Chief Technology Officer, David Schwartz, has warned that while there may be temporary supply shortages when RLUSD launches, causing prices to rise below $1, the price will soon stabilize as the market adjusts.

He urged investors not to fall for “FOMO” (Fear of Missing Out) over possible early price fluctuations of the stablecoin. For the unversed, Ripple’s CEO, Brad Garlinghouse recently announced that RLUSD has received final approval from the New York Department of Financial Services.

Responding to concerns raised on X, Schwartz explained that during RLUSD’s early days, some individuals may be willing to pay unusually high prices, like $1,200 per fraction of an RLUSD, simply to be the first to purchase it.

He wrote,
“If you want to spend a lot of money to get a tiny bit of RLUSD before anyone else does, you can. But please don’t expect the price to stay over $1 once things stabilize, which I expect they will do very quickly. Please don’t FOMO into a stablecoin! This is not an opportunity to get rich.”

However, he assured that this price spike is temporary, and once supply stabilizes, the price will return to around $1. He said that the core purpose of a stablecoin is to maintain a stable price, and any short-term fluctuations will be corrected by arbitrage traders.

Community Awaits the Launch
The XRP community is excited for the launch of the RLUSD stablecoin. RLUSD is a stablecoin tied to the US dollar, meaning its value will stay at one US dollar. It will be issued on both the XRP Ledger and Ethereum blockchains. Ripple says it will be fully backed by cash and equivalent reserves and can be redeemed 1:1 for US dollars.

@ Newshounds News™

Source:  Coinpedia

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Ripple CTO Warns of 'FOMO' as RLUSD Stablecoin Prepares for Market Debut

Schwartz highlighted pre-market bids for RLUSD reaching $1,244, driven by buyers eager to claim the “honor” of being the first to buy it.

Ripple’s chief technology officer, David Schwartz, has cautioned investors about potential price volatility for RLUSD, Ripple’s U.S. dollar-pegged stablecoin, as it prepares for launch.

@ Newshounds News™

Source:  Decrypt

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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Q & A Classroom Link  

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Seeds of Wisdom Team™ Website

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Thank you Dinar Recaps

“Tidbits From TNT” Monday Morning 12-16-2024

TNT:

Tishwash:  Iraq and Italy sign MoU for economic and tourism cooperation

The Federation of Iraqi Chambers of Commerce signed a memorandum of understanding with its Italian counterpart for economic and tourism cooperation.

A statement by the Federation of Iraqi Chambers of Commerce received by the Iraqi News Agency (INA) stated that "in the presence of a high-level diplomat and businessman, the President of the Federation of Iraqi Chambers of Commerce, Abdul Razzaq Al-Zuhairi, signed a joint memorandum of understanding with the Federation of Italian Chambers of Commerce, Andrea Prete, in the presence of the Iraqi Ambassador to Italy, Siwan Barzani, representatives of the Iraqi Embassy in Rome, and a number of businessmen." 

He added that "the memorandum of understanding included the introduction of several joint work axes, most notably enhancing economic and tourism cooperation between Iraq and Italy, as well as working to establish the Iraqi-Italian Business Council, in addition to the Iraqi-Italian Business Forum, which is scheduled to be held early next year."  link

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Tishwash:  Documents.. The Central Bank of Iraq punishes 49 companies involved in "money laundering" and warns of other fake ones

The Central Bank of Iraq decided, on Monday, to punish 49 companies involved in "money laundering", and warned against fictitious trading and investment companies.

The bank directed banks not to allow the 49 sanctioned companies to enter into external financial transfer channels.

In this context, the Central Bank warned citizens of the existence of fictitious electronic trading companies.

The bank said in a statement received by Shafaq News Agency, "There are fictitious companies for electronic trading in stocks that claim to be licensed by the bank. The bank clarifies that it does not grant a license to companies trading in (stocks, metals and cryptocurrencies), noting that it has taken "all legal measures against such fictitious companies."

The bank pointed out that "some pages and posts on social media sites have circulated the names of fictitious companies that exploit the name of the Central Bank and claim that they are official Iraqi trading companies licensed by it for the purpose of investing and trading in digital currencies, stocks, gold and oil by broadcasting fake videos and posts, and profits are withdrawn through wallets or delivered to people according to their claims, noting that these companies claim to have branches in the governorates of Kirkuk, Mosul, Erbil and Sulaymaniyah."

The bank stressed the necessity for "victims of these fictitious companies to take legal action against them and notify the relevant authorities of this, calling on the public, before carrying out any transfer operation, to review the names of non-banking financial institutions licensed by it and published on its official website."  link

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Tishwash:  Securities and Exchange Authority discusses the mechanism for entering the digital exchange platform of the Abu Dhabi Market

Today, Monday, the Securities and Exchange Authority discussed with the Abu Dhabi Market the signing of a joint cooperation agreement to exchange expertise, while discussing the mechanism for entering the market’s digital exchange platform.

A statement by the Commission received by the Iraqi News Agency (INA) stated that "the Chairman of the Iraqi Securities Commission, Faisal Al-Haimus, met during an official visit to Abu Dhabi, the CEO of the Abu Dhabi Securities Market Group, Abdullah Salem Al-Naimi, where they discussed ways to enhance cooperation between the Iraq Stock Exchange and the Abu Dhabi Securities Market, and focused on signing a joint cooperation agreement aimed at exchanging expertise and developing work mechanisms in the financial markets."

He added, "The mechanism for the Iraq Stock Exchange to enter the digital exchange platform launched by the Abu Dhabi Securities Exchange in 2022 was discussed, as the exchange platform is the first digital exchange center in the region based on the mutual market access model, which currently includes 8 participating financial markets."

Al-Haimas stressed the importance of this cooperation in enhancing the role of the Iraq Stock Exchange at the regional level, as well as in developing the investment environment in Iraq.

For his part, Al Nuaimi expressed “the Abu Dhabi Securities Exchange’s readiness to support this initiative,” noting that “cooperation with the Iraqi Authority will enhance the exchange of knowledge and expertise between regional financial markets, and enhance the role of financial markets in economic growth.”

He added, "We at the Abu Dhabi Securities Market believe in the strength of cooperation between financial markets, and we look forward to achieving joint successes with the Iraqi Securities Commission, which will contribute to developing financial markets and enhancing investment in the region."

It is noteworthy that Al-Haimas participated in the Middle East Investor Relations Association (MEIRA) Annual Conference for the year 2024, which was held in the UAE capital, Abu Dhabi, in partnership with the Abu Dhabi Securities Exchange.

The conference was attended by more than 800 leaders and experts, including representatives of 150 issuers from the GCC and Middle East countries, 33 financial markets, in addition to more than 150 participants in local and international financial markets.

The conference also provided a unique platform for exchanging insights and ideas among more than 80 experts from around the world, who discussed important issues affecting capital markets, such as the growth of GCC markets, the role of artificial intelligence in investor relations, and the integration of environmental, social and governance criteria into Islamic finance.

This joint cooperation between the Iraqi Securities Commission and the Abu Dhabi Securities Market reflects Iraq’s commitment to developing the investment environment and enhancing the role of financial markets in supporting regional economic growth.  link

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Mot: . Once Again == ole ""Earl"" Pushes the Limit he does!!!  

Mot: tryouts today 

More News, Rumors and Opinions Sunday PM 12-15-2024

KTFA:

Clare: Interior Ministry: Tomorrow, the opening of the electronic passport systems in the American cities of Los Angeles and Detroit

12/15/2024  Baghdad /

The Directorate of Civil Status, Passports and Residence issued a notice today, Sunday, regarding the opening of the electronic passport system outside Iraq.

A statement by the Directorate stated, "The Directorate of Civil Status, Passports and Residence would like to inform citizens regarding the campaign to open the electronic passport system outside the country to be available to Iraqis residing abroad."

The statement added, "Tomorrow, corresponding to 12/16/2024, is the date for the opening of the electronic passport systems in the cities of Los Angeles and Detroit in the United States of America, in coordination with the Ministry of Foreign Affairs."   LINK

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Clare:  Minister of Electricity sponsors signing of contract to build 3 transformer stations in southern Iraq with international funding

12/15/2024

In Sunday, the Minister of Electricity, Ziyad Ali Fadhil, sponsored the signing ceremony of a contract to establish three secondary electricity conversion stations in Basra Governorate, with a capacity of 3×90 MVA and a voltage of 132/33 kV, funded by the World Bank.

According to a statement issued by the ministry, and received by Shafaq News Agency, the project will be implemented by a coalition of the Turkish companies (BEST and BETAS), while the German company Antik Cuba will supervise the consultancy of the project, which is scheduled to be completed within 18 months.

The three stations are distributed over vital areas in Basra. Al-Qibla station will be established in the governorate center to serve areas with high population density, Al-Ghadeer station in Al-Ghadeer neighborhood to meet the needs of residents and service projects, while Al-Faiha station in Shatt Al-Arab district will serve residential areas and service projects.

During the signing ceremony, the Minister stressed the importance of this strategic project, noting that the new stations will contribute to increasing the hours of electricity supply, resolving bottlenecks in the electricity grid, in addition to providing reliable power sources and achieving stability in the electricity system in the governorate.

It is noteworthy that this project comes within the Ministry of Electricity’s plans to develop the infrastructure of the electricity grid and improve the electricity service for citizens throughout Iraq.LINK

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

Frank26  [Iraq boots-on-the-ground report]   FIREFLY: TV talks about 140 ambassadors from around the world and the IMF and the World Bank are arriving is Basra.  They're saying for a historic event.  That's where the ports are with the development project.  They're saying to us this will link Iraq with international world...All these people are coming for a three day event...

Frank26 [Iraq boots-on-the-ground report] FIREFLY: Sudani gave a big speech and he talked about how very very serious his government is about increasing the citizens' purchasing  power.  He said Iraq has reached a historical time for financial increase.  He talked about how stable we are.  FRANK:  Now that he has told you again for the 9th time, allow me to say this to you...Start your countdown!

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MARKETS A LOOK AHEAD: "Nothing Unusual Is Happening." IMPORTANT UPDATES!

Greg Mannarino:  12-15-2024

https://www.youtube.com/watch?v=RiEoTGV5xCo

MASSIVE BANKING CRISIS: $1.5 TRILLION Commercial Real Estate Debt DUE 2025

Taylor Kenny:  12-15-2024

The rise in vacant office buildings is more than just an eyesore—it’s a ticking time bomb threatening the U.S. economy. With commercial real estate delinquencies at record highs and over $1 trillion in loans coming due by 2025, small and regional banks are dangerously exposed.

 In this video, we uncover how this crisis mirrors 2008, how it could lead to widespread bank failures, and what you can do to protect yourself.

CHAPTERS:

00:00 Introduction: Empty Office Buildings—A Hidden Crisis

00:25 Commercial Real Estate Delinquencies Surge

00:55 Breaking Down the Ripple Effects

01:10 How Big Banks Created the Problem

02:12 Historic Vacancy Levels: Landlords Defaulting

 02:47 The Banks Holding the Risk

03:33 Why This Crisis Mirrors 2008

 04:10 The Domino Effect: 4 Key Risks to Watch

06:05 “Survive Until 2025”: A Doomed Strategy

 06:43 Escalating Delinquencies: The Fastest Spike in History

 07:26 How Bank Failures Could Ripple Through the Economy

 08:00 Why You Can’t Count on the Fed to Save You

https://www.youtube.com/watch?v=TrvcZRitVs4

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 12-15-24

Good Afternoon Dinar Recaps,

ATKINS AND SACKS: PIONEERS OF CRYPTO REGULATION?

Following Gary Gensler’s resignation, Paul Atkins was nominated to take over as the new Chairman of the SEC—the approval of which would mark his return to the Commission after a 17-year hiatus and could mark a drastic change for the crypto industry and digital assets.

Paul Atkins Returns: A New SEC

A current Chief Executive at Patomak Global Partners, Atkins is a veteran of the financial world. Atkins started his career as an attorney on Wall Street in the 1980s before eventually earning the title of SEC Commissioner in the early 2000s. Beginning his career in the financial wild west, and spending his tenure at the SEC in the wake of the dotcom bubble, Atkins has considerable experience in novel financial markets.

As head of a consulting firm that advises emerging fintech companies on the regulatory environment, Atkins has sensibly become involved in the crypto industry. Notably, in the Spring of 2020, Atkins joined the board of advisors for the Chamber of Digital Commerce, the world’s first and largest blockchain trade association. Prior to joining the Chamber’s board, Atkins served as co-chair of the Chamber’s Token Alliance, where he “focused on token issuances, trading platforms, and other areas under the SEC’s purview.”

Atkins has also served on the advisory board of Securitize, a company that works on tokenizing securities with Blackrock and $Ondo. Ondo Global Markets, which is set to launch early next year, plans to offer tokenized stocks and bonds on-chain. As Chairman of the SEC, Atkins would be able to open the door to tokenization companies that are looking to bring transparency and efficiency to traditional financial markets.

A firm believer in free markets, Atkins has notoriously criticized the Dodd-Frank legislation that came in the wake of the financial crisis as overly-burdensome on the banking industry. Given Atkins’ previous support of SEC Commissioner Hester Pierce’s crypto safe harbor proposal, it appears he will bring the same view to the crypto industry as Chairman.

This is evident by Atkins’ public advocacy for an SEC approach that enables new markets such as crypto to flourish in a healthy environment. For example, while at the Chamber of Digital Commerce, Atkins has been a longtime champion for bringing about regulatory clarity for token projects.

Criticizing the Howey test as “quite old” and questioning “whether or not it’s still current,” Atkins suggested the Supreme Court could use the Ripple case to reexamine Howey’s “coherence in the current environment and whether it needs to be tweaked.”

Atkins has also previously indicated that the then-incoming SEC chair—Gary Gensler—could withdraw the agency’s lawsuit against Ripple. While that failed to happen under Gensler, Atkins’ comment raises an interesting possibility for the future of the SEC’s case with him now at the helm.

Paul Atkins’ nomination as Chairman of the SEC ushers in a wave of optimism for the crypto industry, potentially signaling an end to its unnecessary battle with the Commission. With his broad experience navigating both traditional and emerging markets from both the public and private sectors, Atkins is uniquely positioned to bridge the gap between legacy financial systems and the rapidly evolving blockchain and tokenization ecosystems by providing a clear regulatory environment.

The New Czar: David Sacks’ Mission to Jumpstart Crypto and AI

Another win for the crypto community was scored with the appointment of David Sacks as the United States’ first Crypto and AI Czar. Making his name as an early PayPal executive, Sacks has since developed his own successful venture capital firm, Craft Ventures.

A believer in revolutionizing the payments system, Sacks did not stray far from the space. Since leaving PayPal, Sacks has invested significantly in cryptocurrencies like bitcoin and Solana, while also helping fund crypto companies such as Lightning Labs, BitGo, and Bitwise.

Sacks has been a longtime proponent of digital assets, explaining in 2017 that cryptocurrencies are fulfilling PayPal’s “original vision” of creating a “database of money.” In the runup to the recent election, Sacks highlighted “[w]hat the crypto industry has been asking for more than anything else is a clear legal framework to operate under,” and suggested that a Trump victory would provide that.

Now, the president-elect has given Sacks the opportunity to make that a reality. According to Trump’s announcement, Sacks’ primary role as Crypto and AI Czar will be “to work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the US.”

Sacks has been a critic of the SEC’s unpredictable approach to regulation by enforcement and advocates for delineating a clear line between SEC and CFTC jurisdiction.

On his All-In podcast, Sacks supported the Financial Innovation and Technology for the 21st Century Act, which would have classified digital assets running on decentralized blockchains as commodities subject to the CFTC’s jurisdiction.

Despite ultimately failing in the Senate, Sacks is hopeful some variation of the bill will pass in a now-united Congress. In addition to Sacks, some Courts have also taken umbrage with the SEC’s positions relating to the digital asset space.
Given the novelty of the Crypto and AI Czar position, it is unclear how much of a role Sacks will be able to play in the formal decision-making process. Regardless, the Silicon Valley financier will be able to act as a knowledgeable liaison between the President and the regulatory agencies and guide policy discussions toward establishing a healthy framework for crypto.

The Future, In America

Together, Atkins and Sacks bring a breadth of experience and a forward-thinking approach to navigating the complexities of emerging technologies. From Atkins advising Wall Street in the original Wild West of finance, to Sacks’ membership in the “PayPal Mafia,” these two have a unique understanding of revolutionary finance.

Atkins and Sacks’ nominations mark a pivotal moment for cryptocurrency and suggest a brighter regulatory future ahead. Pioneers in both the AI and crypto industries—from Sam Altman to Brian Armstrong (see also)—have congratulated the two on their nominations and shown their enthusiasm to begin building in a friendly environment. Commissioner Pierce expressed her “delight[]” to work with Atkins again “to advance free markets, capital formation, investor choice, and innovation.”

It is currently unknown how Atkins’ nomination will change the enforcement priorities of the SEC for 2025. As attorneys operating exclusively in the digital asset space, we are optimistic about the regulatory environment taking shape under the leadership of Paul Atkins and David Sacks.

 With Atkins’ commitment to regulatory clarity and free markets and Sacks’ entrepreneurial vision for crypto and AI, this duo has the potential to return the United States to its position as a leader in financial innovation.

@ Newshounds News™

Source:  Bitcoin News

~~~~~~~~~

WHAT BANKS ARE HIDING FROM YOU!  |  Youtube

On ChokePoint 2.0 and Debanking

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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BRICS Vows to Leave IMF and Western Financial System

BRICS Vows to Leave IMF and Western Financial System

Fastepo:  12-14-2024

The global financial landscape is undergoing seismic shifts as BRICS nations—Brazil, Russia, India, China, and South Africa—declare their intention to distance themselves from the International Monetary Fund (IMF) and the broader Western financial system dominated by the United States.

This pivotal moment poses critical questions about the future of the US dollar, global economic governance, and international trade relationships.

Formed as a coalition of emerging economies, BRICS has historically sought to promote alternative models of development that reject Western hegemony. Over the years, these nations have expanded their influence in global affairs, presenting themselves as a counterbalance to the West.

The recent call to exit the IMF and dismantle reliance on Western financial institutions signals a significant escalation in this long-standing challenge.

The dollar has long been the world’s primary reserve currency, underpinning international trade and finance. However, as BRICS members seek to develop their own currency mechanisms, the dominance of the dollar could be at risk. Prior initiatives promoted by BRICS to encourage trade in local currencies may gain traction, leading to a shift in global financial practices.

The BRICS’ vow to exit the IMF and the Western financial system marks an important chapter in the ongoing saga of global economic governance.

As these emerging powers push for a new economic order that elevates their interests, they raise fundamental questions about the future of the US dollar and the structure of global finance. While the path ahead is fraught with challenges, the intention alone signals a shift that could have far-reaching implications for the balance of power in the 21st century.

As countries navigate this complex terrain, observers will undoubtedly watch closely to see how these aspirations transform into reality, and what it means for the global economy at large.

Watch the video below for more information.

https://youtu.be/AkpulL-meag

Seeds of Wisdom RV and Economic Updates Sunday Morning 12-15-24

Good Morning Dinar Recaps,

Why Hong Kong has grown into a crypto hub — CEO of WOW Summit

"Hong Kong’s ‘one country, two systems’ framework lets it explore digital asset innovation more freely," Ivan Ivanov told Cointelegraph.

Hong Kong has rapidly become a cryptocurrency hub, positioning itself as a center for financial innovation alongside the United Arab Emirates (UAE) and Singapore. Ivan Ivanov, global CEO of WOW Summit, said this innovation was fostered by a mixture of strong regulatory policy and Hong Kong’s status as a special economic region.

Ivanov told Cointelegraph that Hong Kong’s special relationship with mainland China and robust regulation allow Hong Kong to be a sandbox for financial and technical innovation, which benefits startups, nascent technologies, and institutional investors. Ivanov wrote:

"You get the excitement and potential of crypto, but with the stability and security of a well-established financial system. With Hong Kong's strong connections to the global market, especially Mainland China, it's a really unique and promising place for crypto."

The WOW Summit CEO added that Hong Kong’s stablecoin policy, which requires issuers of stablecoins to acquire licenses and keep their fiat reserves in local Hong Kong banks, promotes trust and transparency in the nascent asset sector.

Hong Kong’s recent crypto developments
Hong Kong’s robust regulatory regime creates an attractive climate for investors who want to experience the upside of cutting-edge technology in finance without fear of losing funds in risky ventures with no legal recourse.

In October 2024, The Hong Kong Financial Services and Treasury Bureau (FSTB) laid out ground rules for AI in finance to mitigate the risks of AI while still fostering integration into existing systems.

The Hong Kong Monetary Authority (HKMA) also announced Project Ensemble in October 2024. The initiative between the HKMA, the Central Bank of Brazil, and the Bank of Thailand explored cross-border tokenized settlements between the three countries.

Hong Kong’s Cyberport Web3 network — a state-run business hub promoting digital asset innovation — now features over 270 blockchain firms. The Cyberport network added more than 120 firms in the past 17 months alone.

In November 2024, ZA Bank, Hong Kong’s largest digital bank, launched retail crypto trading for its clients. The government of Hong Kong also proposed exempting institutional investors from capital gains on their crypto holdings to encourage investment. https://cointelegraph.com/news/why-hong-kong-become-crypto-hub-ceo-wow-summit

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

BRICS: Trump Tariff Threat Has China Eyeing Key Move to Ditch US Dollar

Amid growing tension between the BRICS economic alliance and the US, Donald Trump’s impending tariff threat has China considering what would be a major move to ditch the US dollar. Shortly after his victory, the United States President-elect warned he would impose 100% tariffs on countries looking to abandon the greenback.

The move is looked at as a key defense from Trump to protect the global status of the currency. However, the BRICS alliance has not been shy about its goal to diversify global finance. Specifically, it has been seeking to promote local currencies over the dollar for much of the last two years.

China Presents Answer to Trump Tariff Threat; It’s Bad News for the US Dollar

Since 2022, the BRICS bloc has firmly embraced de-dollarization efforts. After Western sanctions were imposed on Russia following its invasion of Ukraine, the alliance sought new ways to lessen its reliance on the currency. Since then, talks of trade settlement assets and payment systems have abounded.

Yet the United States, with a new regime impending, has sought to put an end to that. But that hasn’t stopped the bloc from defending itself. Indeed, amid the BRICS and US face-off, Donald Trump’s 100% tariff threat has been answered, with China eyeing a key move to ditch the US dollar.

A new report has called for China to anchor the yuan to non-US dollar currencies. Specifically, a Beijing-based think tank urged policymakers to explore a basket of currencies for the exchange rate of the yuan. The move would create more flexibility in terms of domestic monetary policy and would seek a boost in demand.

The China Finance 40 Forum group that proposed the idea is comprised of senior Chinese regulator officials and finance experts. Moreover, it was devised as a clear answer to the ongoing worry Donald Trump presents.

“Given the stronger dollar and tariff threats posed by Donald Trump’s re-election, intensified external uncertainties could limit the space for domestic monetary policies aimed at maintaining internal and external balance,” the group said. Therefore, finding a new anchor for the currency would “counter the pressures.”

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

DISCOVER THE GCR RV: TIPS FOR STAYING PRODUCTIVE IN 2024!  |  Youtube

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Source:  Seeds of Wisdom Team RV Currency Facts

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News, Rumors and Opinions Sunday AM 12-15-2024

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 Sun. 15 Dec. 2024

Compiled Sun. 15 Dec. 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Fri. 13 Dec. 2024 Wolverine: I am under an NDA, but want you to know that we are all going to have a very merry Christmas. Reno has been given the GREEN light and has started as there is movement. Please be patient as we are definitely going to have a merry, merry Christmas. I ask all of you to pray that nothing goes wrong.

MilitiaMan: There’s 140 ambassadors already started arriving for a celebration in Basra Iraq.

Sat. 14 Dec. 2024 Fallawosophy: I’ve heard good news about movement in the RV. All info that I cannot share. It looks like 4b should kick off Monday.

Sat. 14 Dec. 2024 Sunny: We got early morning message from Reno and group leader. I’m just copy paste. “The money is there. It’s just logistical issues”

Sat. 14 Dec. 2024 Doc G: I can actually confirm that people are getting paid in Texas.

Fri. 13 Dec. 2024: BOOM!!! UP NEXT: Florida’s Explosive Plan to Use Gold and Silver as Currency, Bypassing the Federal Reserve System! – amg-news.com – American Media Group

Sat. 14 Dec. 2024: INTEL: Quantum Financial System, Global Currency Reset, and the Med Beds 5D ~ Trust the Plan! – amg-news.com – American Media Group

Fri. 13 Dec. 2024: MILITARY INTEL! Global Strategic Impact: Starlink’s Military Applications, RVs &GESARA, and the Quantum Financial System – amg-news.com – American Media Group

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Sat. 14 Dec. 2024 GLOBAL CURRENCY RESET: THE STORM IS HERE …Gitmo TV on Telegram  (RUMORS)

Brace yourselves! The long-anticipated shift is upon us, and the wheels are turning faster than ever. Iraq’s oil-backed Dinar rate is confirmed to have revalued in-country, sparking seismic activity across the financial landscape. Reno is green-lit. Redemption centers are fully prepped, and sources confirm Tier 4b notifications could drop any moment.

Reports claim the Iraqi Dinar is actively being used at rates of $3.49 in-country and Kurdistan at $3.28. Rumors of Vietnam’s Dong revaluation are swirling, with insiders hinting at secret rates already circulating. This is not a drill.

On High Alert: Multiple trusted sources, including those directly connected to redemption centers, have confirmed that everything is ready to go. The Quantum Financial System (QFS) operates 24/7, bypassing traditional banking limitations. This means the trigger can be pulled on any day—weekend or not.

A Historic Moment: Iraqi PM recently finalized crucial Dinar negotiations, aligning with international partners. Ambassadors from 140 nations have gathered in Basra for an unprecedented celebration. UNESCO, UNICEF, the World Bank—they’re all in attendance. Why? Because Iraq is opening its gates to global investors in a bold, history-making move.

Meanwhile, whispers from trusted Arabic sources claim Syria has revalued its currency, signaling a domino effect.

Bondholders and Tier 4b participants are on edge, awaiting the call that will change everything.

MedBeds Are Coming: Don’t forget to ask about MedBeds during your redemption appointment. These revolutionary healing technologies will be available shortly after the process begins, offering unprecedented solutions to health challenges.

This is it. Prepare for a monumental Christmas. Faithful insiders maintain the breakthrough will happen before the holidays. If not by then, mark your calendars for January 25. Either way, the world as we know it is about to change forever.

Stay vigilant, keep the faith, and remember: The Storm is real. Notifications could land in your inbox any second. Eyes open, patriots. This is the final countdown.

Read full post here:  https://dinarchronicles.com/2024/12/15/restored-republic-via-a-gcr-update-as-of-december-15-2024/

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

Walkingstick  There will be purchasing power.  Article 12 means no restrictions.  No sanctions.  No auctions.  All those equals no three zero notes.  There's only one way for this to turn out...

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:
CBI on TV talking about the dollar auctions are bad but as of today the CBI has started new mechanism for money transfers... FRANK:  This is monetary reform education - boom - boom - boom - boom.  With all the lies [out there], the whole team is coming out and telling you Iraqi citizens, relax.  FIREFLY:  The salaries of October, November and December will be paid to the Kurds as soon as possible.  Then they talked about a 15-day period that started on November the 28th in which the dollar auctions will end.  That put the date as this Sunday the 15th...

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5 SHOCKING Indicators the Economy is Heading for Total Collapse

The Jay Martin Show:  12-14-2024

Today on the Jay Martin Show, Jay sits down with Danielle DiMartino Booth, CEO of QI Intelligence and author of Fed Up. the pair dissect critical economic and geopolitical trends shaping today's markets. They explore the historic overvaluation of the stock market, rising consumer debt, and the hidden vulnerabilities in the gig economy.

Danielle offers insights into the challenges facing commercial real estate, multigenerational housing trends, and the surge in build-to-rent developments.

 The conversation also touches on Canada’s shifting economic landscape, the implications of leadership vacuums, and what lies ahead for global markets in 2025.

https://www.youtube.com/watch?v=DMH3BTtbjYs

Do we still need to worry about CBDCs? | David Morgan

Arcadia Economics:  12-14-2024

We've been hearing about the CBDCs for years. And now as the governments continue to feel the weight of their debt, and the soon to be treasury secretary is talking about a 'Bretton Woods realignment,' do we still need to be concerned about them trying to jam a CBDC down everyone's throat?

To find out more, click to watch the video now!

https://www.youtube.com/watch?v=JKCjPcdo_84

“Tidbits From TNT” Sunday Morning 12-15-2024

TNT:

Tishwash:  The Central Bank and the Securities Commission sign a joint memorandum of understanding to enhance cooperation

The Securities Commission announced today, Sunday, the signing of a joint memorandum of understanding with the Central Bank to enhance cooperation.

The Deputy Chairman of the Securities Commission, Nagham Hussein Ismail, said: “Based on the joint cooperation between government institutions, and in view of the desire of the Securities Commission and the Central Bank of Iraq to create a joint cooperative framework for both parties that contributes to achieving the goals of sustainable development in the banking sector, a memorandum of understanding was signed between the two parties.”

She added, "The signing of the agreement came to enhance cooperation between the two parties in the field of information related to shareholders, and to benefit from the electronic window of the shareholders' system approved by the Iraq Stock Exchange." link

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Tishwash:  To discuss the budget and salaries of Kurdistan.. A delegation from the regional government arrives in Baghdad

A high-level delegation from the Kurdistan Regional Government arrived this morning, Sunday.KurdistantoCapital BaghdadTo discuss a number of files, most notably the budget and salaries of the region’s employees.

The spokesman wasMinistry of FinanceThe Minister of Economy in the Kurdistan Regional Government, Honar Jamal, confirmed yesterday, Saturday, that the Minister of Finance and Economy in the Regional Government, Awat Sheikh Janab, will head the government delegation.

He explained that "the delegation will meet with the Federal Minister of Finance, Taif Sami, to discuss the issue of salaries of the region's employees for the months of October, November and December of 2024, in addition to discussing amending the federal budget and the region's share in the 2025 budget." link

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Tishwash:  Parliamentary Finance Committee reveals the impact of the delay in 2025 schedules on salaries and projects

The Parliamentary Finance Committee revealed, today, Sunday, the extent of the impact of the delay in the 2025 budget schedules on projects and salaries for the next year.

Committee member Mustafa Al-Karawi said, “The budget is a three-year budget, so its texts are ongoing, except for the tables, which are revised and amended according to the actual spending and expenditure,” noting that “the projects that operate in arms and are ongoing will continue their work.”

He explained that "the current ongoing projects will remain, and salaries will continue for next year, even if the approval of the 2025 schedules is delayed," adding that "the new inclusion of new projects will be suspended until the schedules are approved, because a new project cannot be included, and spending will continue on the 2024 schedules, until the new schedules are approved, and then new projects can be included."

Expectations indicate that the 2025 schedules will be delayed for a long time, because the parliament’s legislative recess will not end until January 9th of next year, 2025.

The schedules will also remain suspended until the completion of amending the budget law, specifically paragraph 12 related to the Kurdistan region, which faces severe disagreements, which will lead to obstructing the amendment of the budget or approving the schedules.  link

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Due to power outage, the dollar market and banks close their doors in Sulaymaniyah

 A local source confirmed, today, Sunday (December 15, 2024), that the "dollar market" and banks in Sulaymaniyah Governorate closed their doors due to a power outage.

The source said in an interview with " Baghdad Today " that "the buying and selling operations and money trading in the dollar market have almost completely stopped and the market in Sulaymaniyah has been closed, and the banks have also been closed due to the power outage."

National electricity has been cut off throughout Sulaymaniyah since this morning.

The Director General of Sulaymaniyah Electricity, Anwar Hama Saeed, said in a press statement followed by " Baghdad Today" that "electricity has been cut off in all parts of Sulaymaniyah since four o'clock in the morning today."

The concerned authorities have not yet announced the reasons for the power outage.  link

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

Mot: ..... what happened????  Yule tide detergent

Mot: ... word to the Wise don’t give vacuum cleaners for Christmas

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 12-14-24

Good Afternoon Dinar Recaps,

US SENATOR: NEW TREASURY SECRETARY WILL CHAMPION DIGITAL ASSETS

A senator hails Scott Bessent as a champion for digital assets, backing his Treasury Secretary nomination to advance a Strategic Bitcoin Reserve and reshape U.S. fiscal policy.

The Pro-Crypto Leader Poised to Shape US Fiscal Policy

U.S. Senator Cynthia Lummis (R-WY) has voiced firm backing for President-elect Donald Trump’s selection of hedge fund manager Scott Bessent as the next Treasury Secretary. Last month, Trump nominated Bessent to succeed Janet Yellen as the 79th U.S. Treasury Secretary.

Lummis emphasized that his appointment could bolster her recently proposed legislation advocating for a Strategic Bitcoin Reserve. This initiative, formally known as the BITCOIN Act, was unveiled in July and aims to establish a federal bitcoin reserve to fortify the U.S. dollar and tackle the growing national debt. The senator expressed her enthusiasm on the social media platform X on Friday, stating:

Scott Bessent will be a champion for digital assets and a crucial ally in passing my Strategic Bitcoin Reserve.

“I look forward to working closely with the future Treasury Secretary to restore fiscal responsibility!” she added.

The concept of a U.S. strategic bitcoin reserve has gained traction recently, with several states initiating legislative efforts to establish such reserves. Notably, Texas introduced House Bill 1598, aiming to create a strategic bitcoin reserve funded through donations and gifts, allowing residents to pay taxes in bitcoin.

Similarly, Pennsylvania proposed legislation permitting its treasury to allocate up to 10% of state funds into bitcoin. At the federal level, Trump has advocated for a national bitcoin reserve, a proposal that has sparked debate among experts regarding its feasibility and potential economic impact.

These developments reflect a growing interest in integrating bitcoin into governmental financial strategies across the U.S.

Supporters of the decision have praised Bessent’s openness to cryptocurrency innovation. Ripple CEO Brad Garlinghouse, for instance, commented on X: “I don’t want to get too far ahead of myself but… Scott Bessent is the perfect pick by Donald Trump. He will be the most pro-innovation, pro-crypto Treasury Sec we’ve ever seen.”

Bessent, who founded Key Square Capital Management and previously served as chief investment officer for George Soros, has gained recognition for his macroeconomic acumen. Known for advocating deficit reduction and regulatory reform, his nomination has been met with optimism by financial markets and business leaders. Many anticipate his leadership could foster policies favorable to cryptocurrency, potentially advancing proposals such as Lummis’s bitcoin reserve plan.

@ Newshounds News™
Source:  Bitcoin News

~~~~~~~~~

BANK OF ENGLAND GIVES CRYPTO FIRMS TILL MARCH 2025 TO DISCLOSE DIGITAL ASSET EXPOSURE

England’s central bank is giving companies until March 2025 to disclose their exposure to digital assets.

In a new announcement, The Bank of England says that the Prudential Regulation Authority (PRA) – the UK’s financial regulator – is looking to gather data on firms’ current and future exposure to crypto assets.

“This [data] will inform work across the PRA and the Bank of England on crypto assets by helping us calibrate our prudential treatment of crypto asset exposures, analyze the relative costs and benefits of different policy options and providing an updated view of firms’ current and intended crypto asset-related business activities as a base from which to monitor the financial stability implications of these assets.”

Some of the disclosure requirements include any business related to digital assets and how the bank profits from it, risk management policies of the bank toward crypto, a rundown of how the bank reports its crypto assets, and the most significant crypto-related risks the firms are exposed to and how they plan to manage them, according to the PRA’s questionnaire.

“The decision to hold crypto assets (either under trading or banking book) and provide services to crypto asset operators must be fully consistent with the bank’s risk appetite and strategic objectives as set down and approved by the board, as well as with senior management’s assessment of the bank’s risk management capabilities.”

According to the PRA’s second framework for crypto assets, which was released in 2022, firms still cannot completely mitigate the risks of using permissionless blockchains.

@ Newshounds News™

Source:  DailyHodl

~~~~~~~~~

DISCOVER THE BRICS AI ALLIANCE REVOLUTIONIZING GLOBAL TECH IN 2024  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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US Dollar will Look Like Pump and Dump Stock

US Dollar will Look Like Pump and Dump Stock

David Lin:  12-13-2024

In recent discussions around the health and future of the U.S. dollar, Morgan Lekstrom, President and Director of NexGold Mining Corp., shared a striking perspective, suggesting that the dollar could resemble a “pump and dump” stock.

This metaphor implies a volatile and deceptive cycle wherein the value of the dollar is artificially inflated only to be discarded quickly, leaving investors vulnerable to significant losses.

The context of Lekstrom’s remarks stem from the increasing concerns over inflation, geopolitical instability, and a shifting global financial landscape that has many investors seeking safety in tangible assets like gold. As the U.S. grapples with economic uncertainties, the question looms large: is the faith in the dollar waning?

The U.S. dollar has long been considered the world’s reserve currency, dominant in international trade and finance. However, its status is under scrutiny as countries around the globe explore alternatives. The vast debt levels in the U.S., increasing inflation rates, and fears of a recession are causing some analysts to rethink the dollar’s reliability.

As Lekstrom pointed out, this environment creates the potential for a “pump and dump” scenario, where the dollar’s apparent strength could be short-lived and misleading.

At the same time, a noteworthy phenomenon is unfolding: a global “gold arms race.” Nations are ramping up gold purchases as a means to diversify their reserves and hedge against inflation and currency fluctuations. Central banks and large investors are acquiring gold at an unprecedented pace, signaling a movement towards more tangible forms of wealth preservation. This trend reflects a growing distrust in fiat currencies like the dollar, as countries seek to safeguard their financial systems from the perceived volatility linked with reliance on a single currency.

China and Russia are two of the most notable players in this gold rush. Both countries have significantly increased their gold reserves in recent years, partly in response to mounting tensions with the U.S. and its allies. This shift illustrates a broader strategy of reducing dependency on the dollar and strengthening their financial independence.

The implications of a potential decline in the dollar’s value are profound. If the dollar continues to weaken, it could lead to heightened inflation within the U.S., as the cost of imports rises.

 Additionally, a diminished dollar could trigger a reassessment of global trade relationships and the balance of economic power, facilitating a shift towards a multi-polar currency system.

Furthermore, the transition to alternative currencies, or the adoption of a gold-backed standard by some nations, could complicate the dollar’s dominance in international markets. In this new ecosystem, equities in gold will likely gain favor—shifting investment strategies and prompting increased interest in mining companies like NexGold Mining Corp., which stands to benefit from a burgeoning demand for gold.

The forecast for the U.S. dollar, as articulated by Morgan Lekstrom, illustrates a precarious chapter for American currency. With growing evidence of a global “gold arms race,” investors and policymakers alike must navigate a complex new financial landscape where the sustainability of the dollar is increasingly in question.

 As nations fortify their gold reserves, the strategies that were once heavily reliant on the dollar may need to be reevaluated, signaling a potential end to an era of dollar supremacy.

In this evolving scenario, the prudent investor may find that reallocating resources towards gold and mining firms could serve as a safeguard against the impending volatility of a dollar that many are now beginning to view with reservation.

As history has shown, those who adapt to change can often thrive, even amidst uncertainty.

https://youtu.be/_Ja1A276T4M