“Tidbits From TNT” Tuesday Morning 12-17-2024

TNT:

Tishwash:  After an Interruption of More Than 30 Years, Iraq Wins the Chairmanship of the Executive Council of the Arab Investment Company

The Iraqi Embassy in Libya announced today, Tuesday, that Iraq won the presidency of the Executive Council of the Arab Investment Company in the year 2025.

The Chargé d'Affaires of the Embassy, ​​Ahmed Al-Sahaf, told the Iraqi News Agency (INA) that "in a prominent diplomatic step, Iraq succeeded in winning the presidency of the Arab Investment Company during the 63rd session of the Arab Economic and Social Council held in the Jordanian capital, Amman, to return to this position after an absence of 32 years," noting that "Iraq has not been able to obtain the presidency of the aforementioned company's council since 1992."

She explained that "this achievement came in accordance with the joint coordination between the Ministries of Foreign Affairs and Industry and within the priorities of the government program of Prime Minister Mohammed Shia al-Sudani, and the emphasis of Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein on repositioning Iraq's role in regional and international organizations, within the multilateral diplomatic path

As well as the strategic planning and management that the Iraqi Ministry of Industry has been pursuing, and in accordance with productive diplomacy, through intensive efforts led by the Iraqi Embassy in Tripoli, headed by the Chargé d'Affaires, Dr. Ahmed al-Sahaf, who was able to obtain decisive Libyan support to strengthen Iraq's candidacy, through coordination with the Chairman of the Investment Authority in the State of Libya, Dr. Abdul Hakim al-Fitouri, who gave Libya's vote to Iraq, which it needed to secure victory."

He noted that "Iraq hosted the company's executive council meetings in 2025 in Baghdad, a step aimed at enhancing Arab cooperation in the fields of industry and infrastructure, and consolidating Iraq's position as a pivotal industrial center."  link

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

Tishwash:  Jordanian Parliament: We are happy to see Iraq recovering, as it is the heart of the Arabs and the basis of their strength

During a meeting with Mahmoud Al-Mashhadani

 Jordanian Parliament Speaker Ahmed Al-Safadi confirmed on Monday that his country is happy to see Iraq recovering, and said that it is “the heart of the Arabs and the basis of their strength,” during his reception of his counterpart Mahmoud Al-Mashhadani and the accompanying delegation on a visit after an official invitation.

Today, Monday, the Speaker of the House of Representatives, Dr. Mahmoud Al-Mashhadani, and the accompanying parliamentary delegation arrived at the Jordanian House of Representatives building, in response to an official invitation from the Speaker of the House, Mr. Ahmed Al-Safadi.

The Speaker of the House of Representatives stressed that the Hashemite Kingdom of Jordan has priority in our official visits and is our first destination after our presidency of the House of Representatives, stressing that Iraq needs all its people and brothers and we are committed to standing with the Arab nation in all its issues.

Dr. Mahmoud Al-Mashhadani added that the situation in Palestine today needs a serious Arab stance, which requires concerted efforts to support the rights of the Palestinian people. Likewise, the situation in Syria and Lebanon needs real support and assistance to confront the political, economic and security challenges that these sister countries are going through.

For his part, Mr. Ahmed Al-Safadi welcomed President Al-Mashhadani and his accompanying delegation during the meeting, saying: Today we are happy to see Iraq recovering, as it is the heart of the Arabs and the basis of their strength.

The meeting was attended by a number of representatives, in addition to Mr. Omar Al-Barzanji, the Iraqi Ambassador to the Hashemite Kingdom of Jordan.

The visit aims to strengthen relations between the two brotherly countries in various political, economic and security fields, in addition to discussing regional and international issues of common interest.  link

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

Tishwash: Exchange rate rises in local markets as dollar selling platform in Iraq nears completion

The dollar exchange rate recorded a new rise today, Tuesday (December 17, 2024), during trading on the main stock exchange and the local market .

Baghdad Today correspondent said that the dollar exchange rate recorded 150.950 dinars for every 100 US dollars in the main stock exchange in the capital, Baghdad .

He added that the selling price in the exchange offices recorded 152,000 dinars, while the buying price recorded 150,000 dinars for every 100 US dollars.

On Wednesday (September 4, 2024), the Central Bank of Iraq revealed the mechanism for ending the electronic platform for foreign transfers, while indicating that the placement of foreign transfer operations and meeting requests for the dollar are on sound paths consistent with international practices and standards . 

The bank said in a statement received by "Baghdad Today", that "the electronic platform for foreign transfers managed by the Central Bank of Iraq began at the beginning of 2023 as a first stage to reorganize financial transfers in a way that ensures proactive oversight of them instead of subsequent oversight by the Federal Reserve auditing daily transfers, and this was an exceptional procedure as the Federal Reserve does not usually do this, and a gradual shift was planned towards building direct relationships between banks in Iraq and foreign correspondent and approved banks, mediated by an international auditing company to conduct pre-audit of transfers before they are executed by correspondent banks ."

He added that "during the year 2024 and until now, 95% of the transfer process from the electronic platform to the mechanism of correspondent banks directly between it and Iraqi banks has been achieved, which means that only about 5% of it remains within the platform, which will be transferred using the same mechanism before the end of this year and according to the plan," explaining that "some expectations about potential impacts on the exchange rate and transfer operations are baseless, because the process will not be sudden or in one batch at the end of this year, but rather it was originally achieved during the past period with effort and careful follow-up, except for the remaining small percentage that will be completed in the coming short period ."

He stressed that "trade with the United Arab Emirates, Turkey, India and China represents about 70% of Iraq's foreign trade as (imports), which prompted the Central Bank of Iraq to find channels for transfer in euros, Chinese yuan, Indian rupees, and Emirati dirhams, through approved correspondent banks in those countries, and (13) Iraqi banks have actually begun conducting transfer operations with a pre-audit mechanism that has been agreed upon and approved in addition to transfers in dollars ."

He continued: "With the provision of channels for personal transfers for legitimate purposes and external purchases through electronic payment channels and international money transfer companies and cash sales to travelers, and the payment of cash dollars for incoming transfers to the parties and purposes specified in the Central Bank's published instructions ."

The Central Bank of Iraq stressed that it "put foreign transfer operations and meeting dollar demands on sound paths consistent with international practices and standards and the Anti-Money Laundering and Terrorism Financing Law," explaining that "providing the aforementioned channels for all purposes at the official dollar price makes this price the true indicator of economic practices, which is proven by the reality of price stability and control of inflation, and any other price traded outside those channels is an abnormal price that those with unorthodox or illegal practices resort to, who move away from official channels in their dealings, so they bear the additional costs alone by purchasing at a higher price than the official price to delude others with the difference between the official price and others  link

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

Tishwash:  Parliamentary Committee: Government working to reduce gap between parallel and official exchange rate to achieve stability

The Parliamentary Finance Committee explained, on Monday, that the government is working to reduce the gap between the parallel and official exchange rates to achieve stability, while indicating that the Iraqi economy will not be affected by the deteriorating conditions in Syria .

Committee member Moeen Al-Kazemi said in a statement followed by "Mil", "The government and the Central Bank have taken several important measures to confront the security and economic challenges in the country, especially in light of the deteriorating conditions in Syria ."

Al-Kadhimi continued, "The situation in Syria does not affect the Iraqi economy or the dollar exchange rate in the local market ."

He added that "the dollar exchange rate in the parallel market is currently stable, noting that the government is working to reduce the gap between the parallel exchange rate and the official rate to achieve greater economic stability ."

Currency markets are witnessing significant changes with the “sudden” rise in the value of the Syrian pound against the Iraqi dinar  link

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

Mot: . I feel safe now Jed! 

Mot: got Caught he did!!! Pickles mosying and hightailing it

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

Good Evening Dinar Recaps,

CRYPTO MARKET AWAITS FED DECISION, POWELL'S STATEMENT; WHAT TO EXPECT

The cryptocurrency market is abuzz with anticipation ahead of the Federal Reserve decision and comments from Fed Chair Jerome Powell later this week.

The U.S. Federal Reserve's final meeting of the year is slated for this week; the Federal Open Market Committee's meeting on Tuesday and Wednesday is of particular interest to investors eagerly expecting this year's final interest rate decision.

Other economic statistics will be released throughout the week, including retail sales for November on Tuesday, weekly initial jobless claims and the GDP growth rate for the third quarter on Thursday.

As of Monday, markets had priced in a 97% chance of a 25-basis-point interest rate decrease. Markets will look to the Fed's updated policy statement and Fed Chair Jerome Powell's press conference on Wednesday for clues about future interest rate decisions.

The Fed is now undergoing a blackout period, which means committee members are unable to make public comments prior to the FOMC meeting.

What to expect?
If the Fed announces a rate cut and Powell's comments are regarded positively, the cryptocurrency market may respond positively. Lower interest rates generally boost risk assets, including cryptocurrencies, as investors seek higher returns.

On the other hand, if Powell's statement suggests a slowing approach or if the rate cut is smaller than expected, the market may react unfavorably. Concerns about persistent inflation and a slower pace of rate cuts might dampen investor enthusiasm.

In Monday's trading session, the crypto market is currently posting mixed price action. Bitcoin recently surged to a new all-time high.

According to CoinMarketCap, Bitcoin's price was recently up 1.41% daily at $103,926, after reaching a new record high of $106,554 in early Monday trading. Ethereum rose 1.62% in the last 24 hours to $3,951. The majority of cryptocurrency assets traded in the red; XRP, Shiba Inu, Toncoin and BONK lost between 2% and 4%, while SUI, BGB, Fantom and RUNE gained between 4% and 15% in the last 24 hours.

The outcomes of the Fed's decisions and Powell's insights might set the tone for the market in the coming days.

@ Newshounds News™

Source:  Investing

~~~~~~~~~

CURRENCY: INDIAN RUPEE FALLS TO ITS LOWEST AGAINST THE  US DOLLAR

The Indian rupee dipped to its lowest price point against the US dollar in the currency markets on Monday. The INR fell to an all-time low of 84.92 and is now a stone’s throw away from plummeting to 85. The DXY index, which tracks the performance of the US dollar, shows the currency touching the 107.03 mark. It had reached a 52-week high of 108.07 and could reclaim its lost territory if it holds on to the momentum.

Confidence in Trump is boosting the US dollar while other local currencies, including the Indian rupee, are taking a beating. 

Several financial analysts indicate that the INR could fall below 85 due to weak economic cues. The Reserve Bank of India (RBI) is also unable to tame the fall of the INR despite accusations of selling the US dollar in the open markets.

Why Is the Indian Rupee Falling Against the US Dollar in the Currency Markets?

The rising crude oil prices and the exit of foreign institutional investors (FII) in the equities market are weakening the Indian economy.

In the last three months alone, a record $12 billion worth of equities have been offloaded by foreign institutional clients. The move weakens the Indian rupee as the US dollar flexes its muscles in the currency markets.

The development made Sensex dip from a high of 85,000 to a low of 78,000. However, the index managed to reclaim the 81,000 mark during Monday’s trade. The RBI now remains vigilant and is closely monitoring the Indian rupee’s lackluster performance against the US dollar.

The central bank has been previously accused of interfering in the currency market by dumping the US dollar to protect the rupee.

The Indian rupee is projected to lose further value against the US dollar on the heels of Trump’s inauguration. Trump has vowed to maintain the US dollar’s supremacy and punish the countries that plan to cut ties with the greenback. The threats include a 100% tariff on all goods entering the US for trade.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

24 HOURS TO STOP TOTAL SURVEILLANCE BEFORE IT'S TOO LATE?  |  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 Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps

Kiyosaki Warns That Boomers Will Be The Losers Once The ‘Biggest Crash In History’ Comes

Kiyosaki Warns That Boomers Will Be The Losers Once The ‘Biggest Crash In History’ Comes

Jing Pan   Sun, December 15, 2024  Moneywise

The U.S. stock market has seen clear sailing in 2024, with the S&P 500 up an impressive 28% year-to-date, but Rich Dad, Poor Dad author Robert Kiyosaki sees dark clouds on the horizon — and when the storm hits, it’s the one generation that will feel the brunt of it.

“BOOMERS are SOL: When the stock market bursts … BOOMERS will be BIGGEST LOSERS,” Kiyosaki posted on X.

As a boomer himself, he acknowledged that his generation has been lucky. Data supports that claim, with reports showing that Baby Boomers​​ are likely the wealthiest generation that has ever lived.

But that streak of fortune won’t last forever, he warned. “The biggest CRASH in history is coming. Please be proactive and get rich … before the BOOMER’s go BUST.”

So, how can people prepare? Kiyosaki offered some sage advice.

“If I were a child of a BOOMER … I would nudge my parents to sell their home, stocks, and bonds now … while prices are high … before the CRASH that is coming … and buy gold, silver, and Bitcoin now … before your BOOMER mom and dad move in with you … or expect you to pay for their rising healthcare or funeral costs.”

Precious metals

Kiyosaki’s recommendation to invest in silver and gold is hardly surprising — he has been a vocal proponent of precious metals for decades.

In October 2023, Kiyosaki predicted, “Gold will soon break through $2,100 and then take off. You will wish you had bought gold below $2,000. Next stop gold $3,700.”

That forecast has gained traction. Gold prices surged in 2024, now standing at about $2,700 per ounce.

Silver and gold have long been considered popular hedges against inflation. The reason is simple: central banks can’t print precious metals in unlimited quantities like fiat money.

Kiyosaki revealed that he has been purchasing gold and silver mines since 1985 and now he “literally owns tons of gold and silver.”

These days, there are many ways to gain exposure to gold. You can own bullion, buy shares of gold mining companies or ETFs, or even tap into potential tax advantages with a gold IRA.

Bitcoin

Bitcoin has been another standout performer in 2024, rising approximately 128% year-to-date.

TO READ MORE:  https://www.yahoo.com/finance/news/kiyosaki-warns-boomers-losers-once-113300030.html

More News, Rumors and Opinions Monday PM 12-16-2024

Gold Telegraph: Why we are in the Middle of a Monetary Reset

Dec. 15, 2024

A record 54 countries are spending more than 10% of their revenues on interest payments. This is why we are in the middle of a monetary reset. The global debt problem is becoming very clear for all to see.

The London Stock Exchange is on course for its WORST year for departures since the financial crisis. Nothing to see here. The UK…

Argentina’s deficit has reached effectively ZERO for the first time in over 100 years.

“You don’t get out of poverty by magic. You get out of poverty with capitalism, savings and hard work.” –@JMilei

In the past month, which states in the United States are working to reintroduce gold and silver as legal tender?

1. Texas.
2. Florida.
3. Missouri.

This has all happened in the past month. You don’t hear much about it in the mainstream.

In my conversation with legendary mining entrepreneur Pierre Lessonde, he mentioned that global gold reserves are rising as dollar reserves decline—a direct response to the current U.S. debt issues.

It is worth noting, This year, gold surpassed the euro to become the second most-held asset by central banks globally.

https://twitter.com/i/status/1868475347274269015

Pierre also emphasized the impact of sanctions, the growing demand for gold from China and India’s expanding middle class, and much more.

Watch the full conversation, here: https://twitter.com/i/status/1867307651031261417

GOLD TELEGRAPH CONVERSATIONS #2: BILLIONAIRE PIERRE LASSONDE. "The gold price will ultimately be decided not in the United States, but in the East." - Pierre Lassonde

China REPORTED gold buying last month after a 6-month pause—a clear message to the United States.

#1 producer of gold on the planet.
#1 consumer of gold on the planet.
#2 largest foreign holder of U.S. Treasury securities

Chinese authorities are reportedly considering a weaker yuan in 2025 to combat tariffs by the United States.

Gold is clearly a hedge against its paper currency.

China’s President Xi Jinping has publicly advocated reforming the international financial and monetary systems.

Gold will play a big part like it always has throughout history.

It is the foundation of the global financial system.

“The day the Shanghai Gold Exchange surpasses the COMEX in transactions will mark a seismic shift—gold’s pricing power will move decisively from the West to the East…”

Watch: https://x.com/i/status/1868009359923663101

https://dinarchronicles.com/2024/12/15/gold-telegraph-why-we-are-in-the-middle-of-a-monetary-reset/

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

DJ:  Asset-Backed Currency vs. Fiat Currency and Financial System Implications

The public, as a whole, seem to be obsessed with the idea of asset backed currency. While it may sound good the reality of how it will work has its own set of obstacles. Maybe we shouldn’t be so quick to accept it without understanding its effects.

The debate between asset-backed currency and fiat currency has persisted for decades, with both systems offering distinct advantages and challenges. Each system has profound implications for global financial infrastructure and requires a robust messaging systems to move value efficiently through interconnected markets.

Asset-backed currencies are tied to tangible resources such as gold, silver, or other commodities. It does offer a certain stability and trust: Pegging currency to a tangible asset provides inherent value, reducing inflation risks and instilling confidence in the monetary system.

It also offers reduced government manipulation as the supply of money is limited by the availability of the backing asset, mitigating arbitrary monetary expansion. It would benefit international trade by having a universally recognized value, such as gold, could reduce currency volatility and foster smoother international trade.

But it would also be hampered by resource constraints as the finite availability of backing assets limits economic growth, as currency issuance would be directly tied to resource acquisitions. Managing, securing, and auditing the reserves backing the currency would also be costly and cumber.: In times of crisis, governments cannot easily expand the money supply to stabilize the economy, leading to potential stagnation.

On the other hand Fiat currency is based on trust in the issuing government or central authority and is not backed by physical commodities. It allows for economic growth and flexibility: Central banks can adjust the money supply to support economic objectives, such as controlling inflation or stimulating growth. Without the need for physical backing it makes it simpler to operate, making fiat currencies easier and cheaper. Most economies operate on fiat currency because it simplifies international trade and financial coordination.

The problem with Fiat currency is it is susceptible to overissuance, leading to potential hyperinflation and loss of value. Fiat money’s value hinges entirely on public and investor confidence, which can erode during political or economic instability. Unchecked monetary policy often benefits financial markets and large institutions, encouraging wealth disparities.

Both systems require efficient messaging infrastructures to transmit value across domestic and international markets. Current messaging systems networks like SWIFT, Fedwire, and the European Central Bank’s TARGET2 facilitate fiat currency transactions. These systems rely on secure communication protocols to ensure timely and accurate financial messaging..

Transitioning to an asset-backed system will necessitate a hybrid approach. Modernizing existing systems to incorporate asset certification and real-time reserve auditing will be a necessity . As an example, blockchain will offer transparent verification of backing assets and streamline cross-border transactions. Innovations like ISO 20022 messaging standards can harmonize financial communication across systems. If asset-backed currencies become mainstream, integrating smart contracts to automate value transfer and asset verification will bridge the gap between physical resources and digital finance.

The choice between asset-backed and fiat currency is a trade-off between stability and flexibility. While fiat systems dominate today’s global economy, shifting to or incorporating asset-backed models requires significant adaptations in financial messaging and technology. Striking a balance between the two will be the most viable path, leveraging advanced systems to ensure both security and adaptability in a rapidly evolving economic landscape.

Bottom line is, don’t assume going asset-backed is a cure all. It’s going to take a combination of mechanisms to stabilize the global financial networks. You can’t punch with one finger. It takes a fist to have an effect. But then again, have you ever been poked in the eye?

DJ

https://dinarchronicles.com/2024/12/15/the-office-of-poofness-weekly-report-update-from-poof-and-dj-11-25-24/

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

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

Mnt Goat   My CBI contact has told me that if the switch over of the currency, better known as the Project to Delete the Zeros, was not connected with a revaluation, then Iraq would have completed it a very long time ago.  They would not have to wait.  It does not take a rocket scientists to see that a one dinar note etc., etc. would be worthless without a revaluation to coincide...we can now see why they delay in doing the Project to Delete the Zeros...  when will this next move occur...So, we are coming very close to the switch over from the currency auctions to the international process of currency exchanges to operate in Iraq.  [Post 1 of 2....stay tuned]

Mnt Goat  Why did the CBI decide to wait until the end of their fiscal year to do it?  Hint..Hint..could it be under the direction of Dr Shabibi they also told us the most opportune time to conduct a substantial revaluation is at the beginning of a fiscal year? Their fiscal year begins January 1st... Also I then back up with my conversation I had...with my CBI contact that told me her committee to switch out the notes still intends to go forward with the process of deleting the zeros at this same time period also.  Coincidental?  ...We can only pray that this new process to begin at the end of 2024 will bring success for Iraq...  [Post 2 of 2]

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

EU and G7 Pressure on ITALY to Avoid BRICS Has Failed: Will US and G7 Alliance Collapse?

Fastepo:  12-16-2024

https://www.youtube.com/watch?v=jQd2SW5EaQ8

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

~~~~~~~~~

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

~~~~~~~~~

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

~~~~~~~~~

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

|  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 Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps

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/

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

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...

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

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

~~~~~~~~~

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

~~~~~~~~~

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 Seeds of Wisdom Team™ Newsletter

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

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

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

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

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

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

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

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

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

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

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!

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

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

~~~~~~~~~

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 Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps

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

@ 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 Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps