Economist’s “News and Views” 8-20-2024

IOU YOU: "Value in Gold, Fraud in Fiat" | Mike Maloney LIVE | Rebel Capitalist Part 2

In this eye-opening video, Mike Maloney delves into the dark truths of the global monetary system under fiat currency.

 Discover how the current system is built on IOUs that sell off your future labor, creating a cycle of debt and economic enslavement.

Learn the stark differences between real money under the gold standard and the modern-day fiat currency that is created out of thin air.

We uncover the fraud behind bank credit creation and how this system devalues your hard-earned money, robbing you and future generations of wealth and freedom.

If you're ready to challenge everything you thought you knew about money, this is a must-watch!

Part 1:  https://www.youtube.com/watch?v=vPsmkMmraAs&t=136s

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

Global Crash Ahead?| China & the US Establish Joint Anti-Financial Crisis Group in a Surprise Move

Lena Petrova:  6-20-2024

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

Something BIG IS ABOUT TO HAPPEN... AND ITS EFFECT IS GOING TO BE EXTREME.

Greg Mannarino:  8-20-2024

https://www.youtube.com/watch?v=4Pw2ailQE5A

Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 8-20-24

Good Afternoon Dinar Recaps,

Bank of England to develop analytics data platform for ISO 20022

The Bank of England is working with the BIS Innovation Hub London centre on a project that will explore how technology can enhance the analytical use of ISO 20022 data to shed light on economic conditions, system liquidity and compliance.

The increased use of ISO 20022 standards for payment messages in Real Time Gross Settlement (RTGS) systems means many central banks will adopt the protocol in the coming years. The UK's high value payments system Chaps completed the cutover to the new data standard in June last year.

Project Keystone aims to develop a standardised data analytics platform focused on ISO 20022 data. As part of the project, two modules will be developed.

The first will address the complexities of handling the ISO 20022 data structure and the associated data storage requirements, and the second will provide analysis based on the data.

Keystone is intended to become an off-the-shelf component that payment system operators can integrate into their own systems.

The Bank of England believes that Keystone's support of analytics capabilities could enable payment system operators to utilize the enriched data contained within the ISO 20022 message scheme for greater understanding of economic conditions, system liquidity, and compliance with ISO 20022 standards.

In addition, as Keystone will create a standardised data platform, future users will be able to create and share additional analytics capabilities within the central banking community.

@ Newshounds News™

Source:  FinExtra

~~~~~~~~~

Nigerian tax authority to introduce crypto regulation bill in September: report

The Federal Inland Revenue Service, Nigeria’s tax authority, plans to introduce a bill to regulate the cryptocurrency sector by the end of 2024.

Speaking at a recent stakeholder engagement session with the National Assembly’s Finance Committees, FIRS Executive Chairman Zacch Adedeji said the country is set to propose a bill that would introduce laws to regulate the crypto sector, mitigate the risks involved, and benefit the nation’s economy, according to a Vanguard report.

Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service:

“Today, we cannot run away from cryptocurrency. But as we are here today, there is no law anywhere in Nigeria that regulates cryptocurrency. But it is the new thing that is happening, and we cannot run away from them.”

The new regulation is part of a broader effort to modernize existing laws in the taxation system to keep up with Nigeria‘s evolving economic landscape. Adedeji urged the FIRS’s collaboration with lawmakers to implement the bill, with the first iteration expected to be introduced in September.

@ Newshounds News™

Source:  Crypto News

~~~~~~~~~

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Thank you Dinar Recaps

“Tidbits From TNT” Tuesday 8-20-2024

TNT:

Tishwash:  This is NOT the WTO   

Trade discusses the mechanism for Iraq's accession to the World Trade Points Federation

 The Private Sector Development Department discussed with the Departments of Foreign Economic Relations and Administrative and Financial Affairs at the Ministry of Trade, the mechanism for Iraq's accession to the Federal Union of World Trade Points, the legal procedures for joining, and the benefits that the Iraqi sectors will obtain.

The Director General of the Department, Ibtihal Hashem, stated in a statement: "The meeting discussed an explanation of the union as an international non-profit organization, which was established under Swiss laws in 2000 and is concerned with managing and developing international trade points in order to activate electronic commerce, in addition to its capabilities to provide small and medium-sized companies with commercial information for member states located in developing and least developed countries."

The meeting also discussed the issue of transforming the electronic trade systems currently operating within the international arena in order to raise the export level of the Iraqi private sector and introduce the outside world to the comparative advantage of Iraqi industries.

The union i ncludes more than 74 countries in its membership, including 6 Arab countries.link 

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

Tishwash:  Government Advisor: Al-Alaq's upcoming visit to New York will support the protection and stability of the banking system

 The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Saleh, confirmed on Saturday that the upcoming visit of the Governor of the Central Bank, Ali Al-Alaq, to ​​New York will support the protection and stability of the banking system, while he pointed out that the file of the sanctioned banks requires negotiation due to the possibility of an error or exaggeration in issuing the decision to sanction them.

Saleh said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "the Central Bank is a strategic institution that works to support the value of the dinar and its stability, and to build balances in the Iraqi balance of payments, regularity of payments, and international reserves that support Iraq's foreign trade."

He added, "Due to the rentier nature of the economy, the Central Bank and its reserves have become the feeder and financier of foreign trade for the private sector."

He pointed out that "Iraqi oil sales are in dollars, and are deposited with the US Federal Reserve through an open account in the name of the Central Bank, which is managed by the bank on behalf of the Iraqi government."

He continued, "The upcoming visit of the Governor of the Central Bank, Ali Al-Alaq, to ​​New York City in the United States of America comes to protect the Iraqi banking system and support its stability."

He explained that "the Central Bank, by virtue of its work and responsibility to maintain the financial system of Iraq, must negotiate with the American side regarding the file of the sanctioned banks to alleviate the severity of the deprivation on the banks, as there may be an error or exaggeration that was previously decided to be sanctioned by the American side," stressing that "there is insistence and communication from the Central Bank of Iraq in a good and positive way to protect the Iraqi banking system."

Earlier, the Governor of the Central Bank, Ali Al-Alaq, confirmed in an interview with the Iraqi News Agency (INA), that "there will be meetings held with the Federal Bank and the US Treasury Department at the end of this August to review aspects related to external transfer operations and discuss sanctions on some banks."  link

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

Tishwash:  Economist identifies weaknesses in banking system: 80% of money supply in citizens’ homes – Urgent

Financial and economic affairs expert Alaa Jaloub Al-Fahd revealed today, Sunday (August 18, 2024), a weakness in the Iraqi banking system, while confirming the presence of 80% of the cash mass in citizens’ homes.

Al-Fahd told Baghdad Today, "The amount of cash liquidity pumped into the local market is estimated at the size of annual government spending, and this includes salaries, wages, and others. It constitutes a large percentage and is considered the citizen's purchasing power."

He added that "the rise in income levels after 2003, due to the increase in salaries, led to an increase in purchasing power, and this led to an increase in the level of demand for real estate and other things," indicating that "the rise in real estate prices has nothing to do with the issue of the increase in the citizen's cash liquidity or not, because this increase is dependent on the issue of supply and demand."

Al-Fahd explained that "any increase or decrease in the volume of liquidity is estimated by the size of real spending and the size of savings, considering that the citizen's income is divided between consumption and savings, and the higher the savings rate, the more it is supposed to be exploited economically through investment."

He pointed out that "there is a weakness in the banking system's ability to absorb all the cash available to citizens, as most of this cash is inside homes, far from banks," noting that "the amount of cash available to citizens in homes is estimated at more than 80% of the issued cash mass, and this constitutes a weakness in the banking system, in withdrawing that mass and investing it."

It is noteworthy that financial expert Saleh Al-Masrafi confirmed on Tuesday (August 6, 2024) that Iraq is among the highest countries in the Middle East in the file of hoarding money, while he diagnosed a grave error in the Iraqi banking system .

The banker said in an interview with Baghdad Today, "The accumulations that have continued for many years have pushed citizens to lose confidence in banks and resort to hoarding money in their homes," indicating that "its percentage reaches 70% of financial liquidity, and these are large numbers that indicate that we are among the highest countries in the Middle East in hoarding money ."

He added that "hoarding money in the financial concept is a grave mistake that will confuse the financial process and reduce the government's ability to provide liquidity to pay salaries," explaining that "resorting to electronic payment is a step in the right direction, but the most important thing is withdrawing liquidity, and there are several ways ."

The banker pointed out that "the recent issuance of treasury bonds is a correct decision, but the media propaganda to create a culture of safe investment in the street is very weak, and this is what creates low rates of dealing with them, even though the interest rates are attractive ."

He stressed the "necessity of seeking to expand the circle of withdrawing liquidity from homes and creating a movement of money that contributes to increasing the recovery of investment and granting government loans, especially with the presence of requests that exceed by 5 times the amount of money allocated for loans in any sector, especially housing."   link

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

Tishwash:  It can revive the Iraqi budget.. $14 billion in “losses” due to the halt of Kurdistan’s oil exports

 Oil consultant and expert, Govind Shirwani, revealed today, Monday (August 19, 2024), that the losses from stopping the export of oil from the Kurdistan Region exceeded $14 billion after a year and a half of cessation.

In an interview with Baghdad Today, Sherwani said, “The losses of not exporting the Kurdistan Region’s oil through the Turkish port of Ceyhan exceeded 14 billion dollars, and this is a very large number, and it could have revived the Iraqi budget, which suffers from a lack of liquidity.”

He added, "There are meetings between the Iraqi Ministry of Oil, the Ministry of Natural Resources in the region, and some representatives of foreign companies, but so far there have been no positive indications indicating the resumption of oil exports, but the participation of the three parties in itself is good progress."

Turkey had earlier halted Iraq's exports of 450,000 barrels per day via the oil pipeline that runs from the Kurdistan Region in northern Iraq to the Turkish port of Ceyhan on March 25, 2023.

Turkey's decision to suspend exports came after an arbitration ruling by the International Chamber of Commerce ordered Turkey to pay Baghdad $1.5 billion in compensation for damages caused by the Kurdistan Regional Government exporting oil without permission from the government in Baghdad between 2014 and 2018.

Attempts to restart the pipeline have been delayed by Turkey's presidential election last month and discussions between the Iraqi government's state oil marketing company SOMO and the Kurdistan Regional Government over an export deal that has now been reached.

Among the issues to be resolved is whether Turkey will seek to negotiate the size of the compensation ordered by the International Chamber of Commerce, sources told Reuters earlier.

It also wants outstanding issues in other open arbitration cases to be permanently resolved before it agrees to resume flows, the sources said.

The Kurdistan region is suffering from a cash shortage due to the pipeline shutdown, and Iraqi politicians and Kurdish lawmakers said the region had no choice but to approve the budget, from which it would receive 12.67 percent of the total 198.9 trillion dinars ($153 billion).

The loss in revenue for the Kurdistan Regional Government due to the 80-day oil shutdown amounts to more than $2 billion, according to Reuters calculations based on exports of 375,000 barrels per day, in addition to the historical discount the KRG offers relative to the price of Brent crude.

The pipeline also exported about 75,000 barrels per day of federal crude   link

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

Mot:  As the UnHappy Parents Drop off da Kids fer School!!!

Mot:  .. ole Julie is getting Finicky as She Seasons!!

Seeds of Wisdom RV and Economic Updates Tuesday Morning 8-20-24

Good Morning Dinar Recaps,

US federal agencies are planning to redefine 'money' to include crypto in reporting rules

Federal regulators aim to treat crypto and traditional currency equally for financial institution reporting.

Key Takeaways

▪️US agencies aim to treat cryptocurrencies as traditional money for reporting purposes.
▪️Final rulemaking on crypto as money expected by September 2025.

Several top US federal agencies are collaborating to revise the definition of “money” to strengthen reporting requirements for financial institutions handling domestic and cross-border cryptocurrency transactions.

The US Department of the Treasury’s semiannual regulatory agenda, released on August 16, reveals an upcoming federal effort to level the regulatory playing field for cryptocurrencies and traditional fiat currency.

The Board of Governors of the Federal Reserve System and the Financial Crimes Enforcement Network intend to revise the meaning of “money” used in the Bank Secrecy Act.

According to the agenda, the agencies aim to ensure that the rules apply to transactions involving convertible virtual currency, defined as a medium of exchange that either has an equivalent value as currency or acts as a substitute for currency, but lacks legal tender status.

 The proposal will also extend reporting requirements to digital assets with legal tender status, including central bank digital currencies.

The final notice of proposed rulemaking is currently scheduled for September 2025, subject to clearance. This move comes as the US government recently shifted approximately 10,000 Bitcoin linked to a dated Silk Road raid on August 14.

In addition to crypto, the Department of Justice is actively amending regulations and legal mandates for artificial intelligence.

 On August 7, the DOJ asked the United States Sentencing Commission to update its guidelines to provide additional penalties for crimes committed with the aid of AI. 

These recommendations seek to expand beyond established guidelines and apply to any crime aided or abetted by simple algorithms.

In June, the US Supreme Court overturned the Chevron doctrine, significantly affecting the SEC’s regulatory authority over crypto policies.

In May, the US Treasury and IRS introduced new tax regulations for crypto brokers, requiring transaction reporting and record-keeping of token costs starting in 2026.

Earlier this month, Senators Wyden and Lummis criticized the DOJ’s treatment of crypto software services as equivalent to unlicensed money-transmitting businesses, highlighting potential conflicts with the First Amendment.

This regulatory push reflects the growing recognition of crypto and digital assets as significant components of the financial system. By aligning reporting requirements for crypto with those of traditional currency, regulators aim to enhance transparency and combat potential illicit activities in the crypto space.

@ Newshounds News™

Source: CryptoBriefing and Federal Register

~~~~~~~~~

IOTA News: Tangle Treasury Implements New Anti-Fraud Measures to Protect Grant Distribution

▪️ The Tangle Treasury has implemented significant improvements in data and financial security, introducing a new anti-money laundering (AML) and counter-terrorist financing (CTF) policy.

▪️ Nicole O’Brien will lead as the AML/CTF officer for IOTA’s Tangle Treasury, overseeing adherence to best practices, improving internal protocols, and training staff.

The IOTA and Shimmer communities received an important update from the Tangle Treasury regarding the enhanced backend improvements.

 The latest advancements currently focus on boosting data and financial security while refining proposal reviews and grant management processes.

Thus, in an effort to mitigate risks associated with fund allocations, the Tangle Treasury unveiled a new counter-terrorist financing (CTF) and anti-money laundering (AML) policy. 

The broader goal here is to safeguard the Treasury’s primary mission of issuing grants to other promising projects while minimizing the risk of the funds falling into the hands of scammers and other malicious players.

These improved screening features will further enhance the Treasury’s operational efficiency while protecting community investments. As we know, the Tangle Treasury has made significant strides in enhancing internal processes while ensuring community funds’ safety.

With its AML and CTF policy, Tangle DAO has also implemented additional protective measures such as conducting rigorous background checks and enhanced know-your-customer (KYC) procedures for all the proponents as well as grant recipients such as proof-of-address, proof of identity, screening against sanction lists from major countries and blocs, as well as checks for politically exposed persons (PEP).

IOTA Tangle Treasury Appoints Nicole O’Brien

In order to oversee all these processes, IOTA’s Tangle Treasury has appointed Nicole O’Brien as its CTF/AML officer. In her role, O’Brien will ensure adherence to best practices, enhance internal protocols and provide training for staff members.

These advancements, along with improved data security, bookkeeping, and the introduction of standard operating procedures (SOPs) for finance administration and grant management, will help boost the Tangle Treasury’s efficiency and professionalism. 

Further updates, including a call for new proposals, will likely come in the coming weeks.

The IOTA Tangle is an innovative form of Distributed Ledger Technology (DLT) specifically created for Web3 while using a unique structure based on directed acyclic graphs (DAG) instead of the conventional blockchain model, per the CNF report.

Recently, IOTA has put a major focus on enhancing trust and security, especially for its Identity wallets, per the CNF report.

Also, the European Identity Wallet seeks to transform the Identity verification process by allowing users to log into websites without passwords while securely sharing verified information with simplicity.

In collaboration with the European Commission, IOTA has introduced a new prototype solution using distributed ledger technology (DLT) in order to boost the management of the intellectual property rights marketplace while allowing users to utilize automated, transparent digital contracts, eliminating the need for traditional negotiations, reported CNF.

 @ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

Cardano Founder Charles Hoskinson Launches $1 Million Bug Bounty Challenge Ahead of the Chang Hard Fork

▪️ Charles Hoskinson, Cardano’s co-founder, has announced a $1 million prize for hackers who successfully breach its newly introduced Lace Paper Wallet.

▪️ At the Rare Evo 2024 event, Hoskinson highlighted the upcoming Chang hard fork and the transition to the Voltaire Era.

Cardano’s (ADA) Charles Hoskinson has announced a $1 million bug bounty challenge to the ADA community pending the implementation of the long-awaited Chang Hard Fork.

Speaking at the recent Rare Evo 2024 event, Hoskinson announced that the newly introduced Lace Paper Wallet would be the object at the center of this challenge, with participants expected to breach its defense. 

The Lace Paper Wallet Bug Bounty Program would run until the end of 2024, or someone successfully breaches its security and retrieves the Non-Fungible Tokens (NFT) inside.

The Web3 wallet was developed by Cardano’s (ADA) parent company, Input Output Global (IOG), with Paper Wallet integrated to beef up its security. According to reports, the added features would enable users possessing PGP keys to use a single encrypted QR code to restore their wallet.

This is, I think, the most secure paper wallet ever generated in the history of our industry.

In a video posted on X on August 17, Hoskinson expressed confidence in the wallet, boasting of its protection against attacks that encourage malicious actors to gain control of private keys to facilitate an authorized transaction.

Hoskinson Highlights Other Updates in the Cardano

At the Rare Evo 2024 event , Hoskinson highlighted the demonstration of the powerful scaling solution, Hydra, featuring the classic game “Doom”.

According to experts, this underscores its capabilities of handling high-throughput, real-time applications. Also, the expected Voltaire Era, which the Chang Hard Fork would introduce, was highlighted.

As we explained earlier, this upgrade would transfer governance controls to the community. According to Cardano’s Emurgo, the first phase was initiated in July 2024 with the next part expected in the fourth quarter of 2024 (Q4 2024).

The Chang Hard Fork is a technical component of the Voltaire era of the Cardano roadmap, which focuses on implementing a sustainable and distributed governance framework. With the first part set to be initiated in July 2024, the next part of the Hard Fork upgrade is set to happen by Q4 of this year.

The second phase would mark the full-force decentralized governance and an exit from the technical bootstrapping phase.

The Delegate Representatives (DReps) are also expected to be introduced as a governance body. In addition to the possibility of the SPOs voting on governance actions, a Constitutional Committee would be online to grow membership above the seven of the interim committee.

Finally, the community will take charge of the Treasury withdrawal.

Cardano users will be able to propose treasury debits via governance actions. The three bodies (Constitutional Committee, DReps, and SPOs) will vote on them, and if approved, ADA will be moved out of the treasury. 

From that point forward, the future of the Cardano blockchain will be in the hands of its community, along with its power to draft and ratify the Cardano Constitution. This will mark a monumental step not only for the network but also for the blockchain industry as a whole, as Cardano will be the first truly distributed and community-run blockchain network.

At press time, ADA was trading at $0.33, having declined by 2% in the last 24 hours.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

Newshound's Currency Facts Youtube and Rumble
Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

MilitiaMan: Iraq Dinar News -IQD Update - A ReCap of Events - PetroDinar - Al-Sudani Monetary Reforms - Underway

Iraq Dinar News -IQD Update - A ReCap of Events - PetroDinar - Al-Sudani Monetary Reforms - Underway

Militia/Man and Crew: 8-19-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

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

Seeds of Wisdom RV and Economic Updates Monday Afternoon 8-19-24

Good Afternoon Dinar Recaps,

US federal agencies are planning to redefine 'money' to include crypto in reporting rules

Federal regulators aim to treat crypto and traditional currency equally for financial institution reporting.

Key Takeaways
▪️US agencies aim to treat cryptocurrencies as traditional money for reporting purposes.
▪️Final rulemaking on crypto as money expected by September 2025.

Several top US federal agencies are collaborating to revise the definition of “money” to strengthen reporting requirements for financial institutions handling domestic and cross-border cryptocurrency transactions.

The US Department of the Treasury’s semiannual regulatory agenda, released on August 16, reveals an upcoming federal effort to level the regulatory playing field for cryptocurrencies and traditional fiat currency.

The Board of Governors of the Federal Reserve System and the Financial Crimes Enforcement Network intend to revise the meaning of “money” used in the Bank Secrecy Act.

According to the agenda, the agencies aim to ensure that the rules apply to transactions involving convertible virtual currency, defined as a medium of exchange that either has an equivalent value as currency or acts as a substitute for currency, but lacks legal tender status.

The proposal will also extend reporting requirements to digital assets with legal tender status, including central bank digital currencies.

The final notice of proposed rulemaking is currently scheduled for September 2025, subject to clearance. This move comes as the US government recently shifted approximately 10,000 Bitcoin linked to a dated Silk Road raid on August 14.

In addition to crypto, the Department of Justice is actively amending regulations and legal mandates for artificial intelligence.

On August 7, the DOJ asked the United States Sentencing Commission to update its guidelines to provide additional penalties for crimes committed with the aid of AI. These recommendations seek to expand beyond established guidelines and apply to any crime aided or abetted by simple algorithms.

In June, the US Supreme Court overturned the Chevron doctrine, significantly affecting the SEC’s regulatory authority over crypto policies.

In May, the US Treasury and IRS introduced new tax regulations for crypto brokers, requiring transaction reporting and record-keeping of token costs starting in 2026.

Earlier this month, Senators Wyden and Lummis criticized the DOJ’s treatment of crypto software services as equivalent to unlicensed money-transmitting businesses, highlighting potential conflicts with the First Amendment.

This regulatory push reflects the growing recognition of crypto and digital assets as significant components of the financial system. By aligning reporting requirements for crypto with those of traditional currency, regulators aim to enhance transparency and combat potential illicit activities in the crypto space.

@ Newshounds News™

Source: CryptoBriefing and Federal Register

~~~~~~~~~

IOTA News: Tangle Treasury Implements New Anti-Fraud Measures to Protect Grant Distribution

▪️ The Tangle Treasury has implemented significant improvements in data and financial security, introducing a new anti-money laundering (AML) and counter-terrorist financing (CTF) policy.

▪️ Nicole O’Brien will lead as the AML/CTF officer for IOTA’s Tangle Treasury, overseeing adherence to best practices, improving internal protocols, and training staff.

The IOTA and Shimmer communities received an important update from the Tangle Treasury regarding the enhanced backend improvements. The latest advancements currently focus on boosting data and financial security while refining proposal reviews and grant management processes.

Thus, in an effort to mitigate risks associated with fund allocations, the Tangle Treasury unveiled a new counter-terrorist financing (CTF) and anti-money laundering (AML) policy. 

The broader goal here is to safeguard the Treasury’s primary mission of issuing grants to other promising projects while minimizing the risk of the funds falling into the hands of scammers and other malicious players.

These improved screening features will further enhance the Treasury’s operational efficiency while protecting community investments. As we know, the Tangle Treasury has made significant strides in enhancing internal processes while ensuring community funds’ safety.

With its AML and CTF policy, Tangle DAO has also implemented additional protective measures such as conducting rigorous background checks and enhanced know-your-customer (KYC) procedures for all the proponents as well as grant recipients such as proof-of-address, proof of identity, screening against sanction lists from major countries and blocs, as well as checks for politically exposed persons (PEP).

IOTA Tangle Treasury Appoints Nicole O’Brien

In order to oversee all these processes, IOTA’s Tangle Treasury has appointed Nicole O’Brien as its CTF/AML officer. In her role, O’Brien will ensure adherence to best practices, enhance internal protocols and provide training for staff members.

These advancements, along with improved data security, bookkeeping, and the introduction of standard operating procedures (SOPs) for finance administration and grant management, will help boost the Tangle Treasury’s efficiency and professionalism. Further updates, including a call for new proposals, will likely come in the coming weeks.

The IOTA Tangle is an innovative form of Distributed Ledger Technology (DLT) specifically created for Web3 while using a unique structure based on directed acyclic graphs (DAG) instead of the conventional blockchain model, per the CNF report.

Recently, IOTA has put a major focus on enhancing trust and security, especially for its Identity wallets, per the CNF report.

Also, the European Identity Wallet seeks to transform the Identity verification process by allowing users to log into websites without passwords while securely sharing verified information with simplicity.

In collaboration with the European Commission, IOTA has introduced a new prototype solution using distributed ledger technology (DLT) in order to boost the management of the intellectual property rights marketplace while allowing users to utilize automated, transparent digital contracts, eliminating the need for traditional negotiations, reported CNF.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

Cardano Founder Charles Hoskinson Launches $1 Million Bug Bounty Challenge Ahead of the Chang Hard Fork

▪️ Charles Hoskinson, Cardano’s co-founder, has announced a $1 million prize for hackers who successfully breach its newly introduced Lace Paper Wallet.

▪️ At the Rare Evo 2024 event, Hoskinson highlighted the upcoming Chang hard fork and the transition to the Voltaire Era.

Cardano’s (ADA) Charles Hoskinson has announced a $1 million bug bounty challenge to the ADA community pending the implementation of the long-awaited Chang Hard Fork.

Speaking at the recent Rare Evo 2024 event, Hoskinson announced that the newly introduced Lace Paper Wallet would be the object at the center of this challenge, with participants expected to breach its defense.

 The Lace Paper Wallet Bug Bounty Program would run until the end of 2024, or someone successfully breaches its security and retrieves the Non-Fungible Tokens (NFT) inside.

The Web3 wallet was developed by Cardano’s (ADA) parent company, Input Output Global (IOG), with Paper Wallet integrated to beef up its security. According to reports, the added features would enable users possessing PGP keys to use a single encrypted QR code to restore their wallet.

This is, I think, the most secure paper wallet ever generated in the history of our industry.

In a video posted on X on August 17, Hoskinson expressed confidence in the wallet, boasting of its protection against attacks that encourage malicious actors to gain control of private keys to facilitate an authorized transaction.

Hoskinson Highlights Other Updates in the Cardano

At the Rare Evo 2024 event , Hoskinson highlighted the demonstration of the powerful scaling solution, Hydra, featuring the classic game “Doom”.

According to experts, this underscores its capabilities of handling high-throughput, real-time applications. Also, the expected Voltaire Era, which the Chang Hard Fork would introduce, was highlighted.

As we explained earlier, this upgrade would transfer governance controls to the community. According to Cardano’s Emurgo, the first phase was initiated in July 2024 with the next part expected in the fourth quarter of 2024 (Q4 2024).

The Chang Hard Fork is a technical component of the Voltaire era of the Cardano roadmap, which focuses on implementing a sustainable and distributed governance framework. With the first part set to be initiated in July 2024, the next part of the Hard Fork upgrade is set to happen by Q4 of this year.

The second phase would mark the full-force decentralized governance and an exit from the technical bootstrapping phase. The Delegate Representatives (DReps) are also expected to be introduced as a governance body.

In addition to the possibility of the SPOs voting on governance actions, a Constitutional Committee would be online to grow membership above the seven of the interim committee.

Finally, the community will take charge of the Treasury withdrawal.

Cardano users will be able to propose treasury debits via governance actions. The three bodies (Constitutional Committee, DReps, and SPOs) will vote on them, and if approved, ADA will be moved out of the treasury. 

From that point forward, the future of the Cardano blockchain will be in the hands of its community, along with its power to draft and ratify the Cardano Constitution. 

This will mark a monumental step not only for the network but also for the blockchain industry as a whole, as Cardano will be the first truly distributed and community-run blockchain network.

At press time, ADA was trading at $0.33, having declined by 2% in the last 24 hours.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

Newshound's Currency Facts Youtube and Rumble
Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

Iraq Economic News and Points To Ponder Monday Afternoon 8-19-24

In Numbers.. The Central Bank Buys Dollars From The Ministry Of Finance In An Unprecedented Move Since 2003

Time: 2024/08/19 Read: 3,055 times  {Economic: Al Furat News} An economic expert revealed an “unprecedented” figure for the value of the dollars purchased by the Central Bank of Iraq from the Ministry of Finance during the month of July.

"The Central Bank of Iraq purchased $9.6 billion from the Ministry of Finance in July 2024, the highest value since the bank began purchasing dollars from the ministry in 2003," Manar Al-Obaidi said in a statement received by {Euphrates News}.

He added, "The purchases did not exceed this value during the past ten years except once in October of last year, at $10 billion."

Al-Obaidi explained, "Thus, the rate of dollar purchases from the Central Bank for the year 2024 has reached $5.9 billion per month, the highest over the past ten years, with an annual growth rate of 10%. The growth rate had previously risen in 2023 to 20%."

He attributed "this increase in purchases to the Ministry of Finance's need for local currency to cover its increasing expenses over the past years, especially with the increase in operating spending and raising the level of spending in the 2023, 2024 and 2025 budgets."

Al-Obaidi expected that "this rate will rise in the coming months with the Central Bank's inability to meet the need for Iraqi dinars, which may force it to increase the issued monetary mass to meet the ministry's expenditure needs."  LINK

Iraqis...Saving In Gold Instead Of The Dollar

 Time: 08/18/2024 Read: 1,859 times  {Economic: Al-Furat News} Iraqis tend to save in gold instead of the dollar, which causes its continued rise in the local market.

 Economist Salah Nouri told Al-Furat News:

 “Gold for government institutions and individuals is an investment haven as an alternative to the dollar in the event that the price of the dollar rises.”  He stressed,  "The increasing demand for gold leads to a continuous rise in its price." 

According to Nouri’s statement,   “There is almost certain information that the situation is intertwined between some citizens’ tendency to save in gold instead of dollars, and others to smuggle it out of Iraq after the difficulty of dollar transfers.”

While experts believe that citizens resorting to buying gold is due to the weakness of the banking system.

This was confirmed by financial affairs expert Mustafa Hantoush, saying that the

reason citizens resort to buying gold bullion to save their money is as a result of the

     weakness of the banking system,

     lack of confidence in this system, and

     fear for their money due to American sanctions.

This is why we see the majority of Iraqis turning towards gold bullion, especially in light of the rise in prices.

The yellow metal and this price is stable and does not fluctuate like the dollar.

Today, Sunday, gold prices in the wholesale markets on Al-Nahr Street in the capital, Baghdad, recorded a selling price of 21 karat gold from Gulf, Turkish and European gold at 531 thousand dinars, and a purchase price of 527 thousand dinars.

The selling price of one mithqal of 21 carat Iraqi gold was recorded at 501 thousand dinars, and the purchase price reached 497 thousand.

Regarding gold prices in goldsmiths’ shops, the selling price of a 21-carat Gulf gold mithqal ranges between 535 thousand and 545 thousand dinars, while the selling price of an Iraqi gold mithqal ranged between 505 thousand and 515 thousand dinars.

As for gold prices in Erbil, 24-karat gold sold for 605 thousand dinars, 21-karat gold sold for 530 thousand dinars, and 18-karat gold sold for 455 thousand dinars.  https://alforatnews.iq/news/العراقيون-الادخار-بالذهب-بدلاً-من-الدولار    

Social Impacts Of Economic Transformations

Economical 08/19/2024  D. Sorour Muhammad Khalil Saghir

 It is noted that the current economic transformations that Iraqi society is witnessing, which include the intervention of capitalism in our economy, have greatly affected the labor market.

These transformations are represented by fluctuations in oil prices and the trend towards globalization and digitalization, which resulted in noticeable changes in the structure of the family and the roles of its members, because with the entry The digital economy and the global market. Fluctuations in oil prices have increased economic instability and reduced job opportunities, which has burdened families with financial pressures.

 These pressures increase with rising unemployment rates, which may contribute to family disintegration.

Because of the difficulty of meeting life needs, which is witnessed by the majority of Iraqi families, as it causes a change in the distribution of roles within the family; Because individuals need to work more to support the family or adapt to unstable sources of income, individuals must adapt and focus on professional success and achieving financial independence.

As a result, we are now witnessing an increase in the participation of Iraqi women in the labor market to support the family financially.

Many of them entered the fields of handicrafts, product marketing, and self-employment in many fields, and

this change resulted in an unprecedented movement for women, which led to changes in the traditional roles within the Iraqi home, so the role of women in supporting the family economy became clear, and at the same time

 This places a great burden on them, as the majority of working Iraqi women face difficulties in achieving a balance between work and family obligations, which affects their quality of life, in addition to social and cultural restrictions that affect their opportunities for professional advancement and financial independence.

 Therefore, I will discuss the impact of these economic transformations in more depth, based on the vision of sociologist Ali Al-Wardi, who pointed out that economic changes play a major role in shaping the social structure and interactions within the family, such as the transition from the traditional economy to a more modern economy, as Iraqi families face... New challenges include changes in lifestyle, increasing financial pressures, and a change in traditional social roles.

These transformations have increased the gap between generations, as the younger generation adopts new lifestyles and concepts that differ from those adopted by previous generations.

 In short, it can be said that the current economic transformations contribute In reshaping the social structure of the Iraqi family, where crises are dealt with in new ways that may redefine family relationships and social roles,

 therefore, adapting to economic changes requires a flexible response from Iraqi family members, and to address the negative effects of economic transformations in the Iraqi family, a group can be considered:

 Strategies that address various aspects of family life, including the

 first aspect: the role of the government in improving the education system, because education must be in line with the needs of the labor market, which requires actual application, because it is not logical for medical colleges to graduate large numbers of students annually.

 Public and private universities, which are not compatible with the needs of the labor market, which leads to exacerbation of the dysfunction in Iraqi institutions. The  second aspect: enhancing cooperation between educational institutions, companies and ministries.

 From these companies, young people can gain practical experiences during their studies, which improves their employment opportunities after graduation. As for The

 third aspect is the role of local authorities in providing successful programs to support low-income families or those affected by economic transformations, by providing direct financial aid or support in the form of soft, interest-free loans.

 All of this can reduce the financial pressures that families face and contribute to Its economic and social stability.  The

 fourth aspect is providing free education and vocational training, which play a vital role in addressing the negative economic impacts, by directing individuals towards acquiring new skills that are in line with the requirements of the modern market.

 finally; Economic policies must focus on achieving sustainable and comprehensive development, by adopting policies that encourage investment in small and medium enterprises.

This will enhance local economic growth and create new job opportunities, which contributes to improving the economic situation of families in the long term, and contributes to achieving a balance between growth and development. Economic and protection of vulnerable groups to ensure family stability in light of the current economic transformations.   https://alsabaah.iq/101272-.html    

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

They’re Now Staging A Banking Collapse, Why Did Warren Buffett Sell $50B in Stocks??

They’re Now Staging A Banking Collapse, Why Did Warren Buffett Sell $50B in Stocks??

Atlantis Report:  8-18-2024

Recently, there has been a lot of talk in the financial world about big stock sell-offs by well-known investors, including Warren Buffett.

Often called the "Oracle of Omaha" because of his exceptional investing skills, Buffett's actions in the stock market are closely followed and considered as signs of wider economic trends.

The news that Buffett's company, Berkshire Hathaway, sold off over $50 billion in stocks has caused a lot of discussion in the investment community, leading to speculation about the reasons behind these decisions and what they might mean for the global economy.

In the last several months, Warren Buffett, the legendary investor and CEO of Berkshire Hathaway, has sold over $50 billion worth of stocks, including massive chunks of Bank of America and Apple shares. Warren Buffett's recent stock sales are significant not only because of the sheer volume but also because of the companies involved.

 In May, Buffett sold $21 billion worth of Apple stock, and later, in December, he sold another $28.7 billion of other stocks. This follows a sale of $2.3 billion worth of Bank of America stock earlier in the year.

Combined, these sales surpass $50 billion, a staggering amount that has left many financial analysts and investors scratching their heads.

Buffett is not alone in his massive stock sell-off. Jamie Dimon, CEO of JP Morgan Chase, the largest bank in the world, sold $140 million worth of his own stock in the bank. This is notable as it is the first time in his 18-year tenure that he has sold such a significant portion of his holdings.

 Other high-profile CEOs and founders, including Jeff Bezos, Elon Musk, Mark Zuckerberg, and members of the Walton family, have also been selling off large amounts of stock.

https://www.youtube.com/watch?v=Tz0OouNvdi0

“Tidbits From TNT” Monday 8-19-2024

TNT:

Tishwash:  Government Advisor: “Petro Dinar” Requires Good Stock of Foreign Currencies and Gold

The Prime Minister's advisor for financial affairs, Mazhar Muhammad Salih, explained today, Sunday, that "the adoption of the dinar in pricing oil, or what is called (petro dinar), requires, first of all, the availability of foreign reserve currencies or gold, as Russia did when it purchased Russian oil with gold-backed rubles, which caused problems that we will discuss later."

He added in press statements that "these foreign reserves must be available (as a necessary condition) and operate according to a high standard of efficiency that guarantees the stability of the exchange rate linked to oil (the petro dinar) in order to hedge against oil price fluctuations to ensure the stability of the exchange rate (the petro dinar) itself."

“Linking oil sales to the dinar on a fixed basis with oil prices instead of the foreign reserves base means linking the dinar to the oil asset cycle first, and that oil is sold according to global oil prices. If the exchange rate of the dinar (petrodinar) against the (petrodollar) is fixed, and oil prices fall, then the demand for the dinar for accounting purposes will certainly fall, and the dinar will be exchanged for oil in larger quantities and the demand for the (petrodinar) will be lower, and vice versa,” he added.

He pointed out that "any deviation between oil prices (petrodollar) and the exchange rate (petrodinar) according to international market data will be considered a cost that requires compensation by paying fewer dinars or collecting a higher dinar in the opposite case," indicating that "international reserve currencies are foreign currencies held by central banks and global financial institutions as part of their cash reserves. These currencies are used in international transactions and settling debts between countries, and are a standard for international payments and facilitating global trade."  link  

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

Tishwash:  Parliament falsifies the budget again.. Al-Mandlawi may lose his position!

 MP Basem Khashan confirmed the possibility of terminating the membership of the acting Speaker of the House of Representatives, Mohsen Al-Mandalawi, if the charges of tampering with the budget tables that were recently revealed by the Prime Minister’s Office are proven, noting that the parliament committed legal violations in amending the budget tables and they were on their way to being published and implemented had it not been for the government’s scrutiny, indicating that many MPs were subjected to deception in this file.

The Council of Ministers had spoken of an increase of 15 trillion dinars in the last tables, and it was not included in the agreement, discussions and voting, requesting a re-audit.

Khashan said, in an interview with the media figure Ahmed Mulla Talal:

The budget tables sent by the Council of Ministers were changed and their allocations were manipulated in the House of Representatives in an illegal manner.

The forged schedules would have been published and implemented had it not been for the Cabinet's scrutiny.

Most of the budget schedules have been changed, and the process has been carried out by ignoring a large number of parliamentarians.

The legal violations committed by the House of Representatives in amending the budget tables are countless and are considered a major crime.

The funding for the ration card basket has been increased to 5 trillion dinars for contracts that include major problems.

Manipulation and alteration operations can be legally classified under the crimes of alteration with the intent to defraud, regardless of the size of the amounts and figures that were manipulated.

The acting Speaker of the House of Representatives is responsible for tampering with the budget tables sent to the Cabinet.

The Federal Court can terminate Mohsen Al-Mandalawi’s membership, if the charges of manipulation are proven.  link

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

Tishwash:  Iraq: Qusay Shafiq reveals major financial scandals and demands investigation

Public money scandals continue in Iraq

 Dr. Qusay Shafiq, a well-known activist on social media, sparked widespread controversy after revealing huge financial scandals related to the management of public funds in Iraq. He accused the government and parliament of manipulating the financial budget tables, wondering about the fate of tens of billions of dollars that were not spent transparently.

Shafiq referred in a tweet on the “X” website to what he described as the “theft of the century,” which the Integrity Commission estimated at $2.5 billion, equivalent to 4 trillion Iraqi dinars. However, he expressed his surprise at the large gap between this figure and the ongoing corruption in manipulating the budgets of recent years, as he revealed that the manipulation of the 2024 budget tables reached about $10 billion.

In a related context, Shafik touched on the Food Security Law, noting that about $20 billion has been allocated to it, but he wondered about the entities that monitored the disbursement of this money, stressing that the Ministry of Finance and the Central Bank have not received any of this money so far. He added, “$10 billion was spent on infrastructure projects, but where did the remaining $10 billion go?”

Shafik discussed the budgets of previous years, including the budgets of 2014, 2020, 2022, and 2023, noting that no funds were disbursed to the governorates from the 2023 budget. This raised questions about how the authorities deal with public funds, especially in light of the Central Bank’s report, which indicated that the cash reserve had not increased despite the significant rise in oil prices due to regional conflicts.

Qusay Shafiq concluded his statements by calling for a comprehensive investigation into previous financial deals, stressing that the people’s money is a trust that must be preserved. These statements come at a time when Iraq is witnessing increasing pressure from citizens and international observers, who are demanding greater transparency and accountability in the management of public funds.

Shafiq's statements are a strong call for regulatory bodies and government authorities to take urgent action to curb corruption and clarify the fate of the allocated funds, as the Iraqi people await answers on how their financial wealth is managed.  link

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

Tishwash:  UrgentIn numbers.. The Central Bank buys dollars from the Ministry of Finance in an unprecedented move since 2003

An economic expert revealed an “unprecedented” figure for the value of the dollars purchased by the Central Bank of Iraq from the Ministry of Finance during the month of July.

The Central Bank of Iraq purchased $9.6 billion from the Ministry of Finance in July 2024, the highest value since the bank began purchasing dollars from the ministry in 2003," Manar Al-Obaidi said in a statement received by {Euphrates News}.
He added, "The purchases did not exceed this value during the past ten years except once in October of last year, at $10 billion."

Al-Obaidi explained, "Thus, the rate of dollar purchases from the Central Bank for the year 2024 has reached $5.9 billion per month, the highest over the past ten years, with an annual growth rate of 10%. The growth rate had previously risen in 2023 to 20%."

He attributed "this increase in purchases to the Ministry of Finance's need for local currency to cover its increasing expenses over the past years, especially with the increase in operating spending and raising the level of spending in the 2023, 2024 and 2025 budgets."

Al-Obaidi expected that "this rate will rise in the coming months with the Central Bank's inability to meet the need for Iraqi dinars, which may force it to increase the issued monetary mass to meet the ministry's expenditure needs."  link

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

Mot:  . Better safe than sorry 

Mot: pickles loves cheese

MilitiaMan: Iraq Dinar News - IQD Update -Central Bank of Iraq - WTO - Remove Zeros? - PetroDinar - 1st mention

Iraq Dinar News - IQD Update -Central Bank of Iraq - WTO - Remove Zeros? - PetroDinar - 1st mention

MilitiaMan and Crew:  8-18-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=VjS_n6sh4Pg

Seeds of Wisdom RV and Economic Updates Monday Morning 8-19-24

Good Morning Dinar Recaps,

U.S. Government’s Crypto Holdings: Everything You Must Know

Arkham Intelligence shows that a wallet tied to the U.S. government is sitting on a hefty stash of cryptocurrency. A massive fortune can heavily influence the markets, and we have previously seen how the German Government’s Bitcoin sell-off affected the markets. Amid the political drama and crypto confusion, let’s find out how much the U.S. Government holds.

When we say hefty, think 203,200 BTC, which clocks in at roughly $12 billion, along with 50,200 ETH, worth around $130 million. On top of that, the address holds 750.7 wBTC, valued at about $44.41 million, plus a variety of other tokens. Altogether, the total value of the assets is estimated to be around $12.4 billion.

Jackson Hole Symposium

@ Newshounds News™

Read More:  https://telegra.ph/Jackson-Hole-Symposium-08-19

~~~~~~~~~

Mastercard to cut around 1000 jobs - Bloomberg

@ Newshounds News™

Source:  https://telegra.ph/Mastercard-to-cut-around-1000-jobs---Bloomberg-08-19

~~~~~~~~~

Jackson Hole Economic Policy Symposium The 2024 Economic Policy Symposium. "Reassessing the Effectiveness and Transmission of Monetary Policy," will be held Aug. 22-24.

@ Newshounds News™

Source:   https://telegra.ph/Jackson-Hole-Addressing-policy-challenges-and-marking-milestones-08-19

  ~~~~~~~~~

Crypto Market Jitters Amid Political Drama

This discovery comes at a rather tense time, with the U.S. political landscape adding more fuel to the already unpredictable crypto market. Vice President Kamala Harris has thrown her support behind the digital currencies, echoing the vision of the Democratic President-Elect.

But here’s the kicker: the current administration doesn’t seem to be on the same page. The government’s recent $2 billion crypto sell-off has stirred the pot, contradicting the pro-crypto stance many expected.

@ Newshounds News™

Source:  Crypto News

~~~~~~~~~

Dubai court recognizes crypto as a valid salary payment

UAE lawyer Irina Heaver said the ruling shows the growing acceptance of crypto in employment contracts, recognizing the evolving nature of Web3 financial transactions.

In a significant update to the United Arab Emirates’ judiciary approach to crypto, the Dubai Court of First Instance recognizes salary payments in crypto as valid under employment contracts.

Irina Heaver, a partner at UAE law firm NeosLegal, explained that the ruling in case number 1739 of 2024 shows a shift from the court’s earlier stance in 2023, where a similar claim was denied because the crypto involved lacked precise valuation.

Heaver believes this shows a “progressive approach” to integrating digital currencies into the country’s legal and economic framework.

Dubai court recognizes inclusion of tokens in salary

Heaver said that the case involved an employee who filed a lawsuit claiming that the employer had not paid their wages, wrongful termination compensation and other benefits.

The worker’s employment contract stipulated a monthly salary in fiat and 5,250 in EcoWatt tokens. The dispute stems from the employer’s inability to pay the tokens portion of the employee’s salary in six months.

In 2023, the court acknowledged the inclusion of the EcoWatts tokens in the contract. Still, it did not enforce the payment in crypto, as the employee failed to provide a clear method for valuing the currency in fiat terms.

“This decision reflected a traditional viewpoint, emphasizing the need for concrete evidence when dealing with unconventional payment forms,” Heaver said.

However, the lawyer said that in 2024, the court “took a step forward,” ruling in favor of the employee and ordering the payment of the crypto salary as per the employment contract without converting it into fiat. Heaver said:

“This decision reflects a broader acceptance of cryptocurrency in employment contracts and highlights the court’s recognition of the evolving nature of financial transactions within the Web3 economy.”

Heaver added that the court’s reliance on the UAE Civil Transactions Law and Federal Decree-Law No. 33 of 2021 in both judgments shows the consistent application of legal principles in wage determination. 🍳

Far-reaching implications for UAE crypto adoption

According to Heaver, the decision also sets a positive precedent that encourages the further integration of digital currencies in everyday financial transactions. The lawyer believes that this fosters a more inclusive and innovative business environment. Heaver said:

“This ruling affirms that if an employment contract includes such terms, both the company and the employee must honor them. It is reassuring to see the court recognize that wages, whether paid in fiat or cryptocurrency, are the rightful entitlement of the employee for their agreed-upon work.”

Heaver added that it’s a win for employees and a significant step forward in the UAE’s journey toward becoming a digital economy leader.

@ Newshounds News™

Source:  CoinTelegraph

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Newshound's Currency Facts Youtube and Rumble
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"The Great Gold & Silver Rush of the 21st Century Is Here"

"The Great Gold & Silver Rush of the 21st Century Is Here" | Mike Maloney LIVE | Rebel Capitalist 1

8-15-2024

Join us for an eye-opening live presentation with Mike Maloney, founder of GoldSilver.com and author of "Guide to Investing in Gold and Silver" and “The Great Gold & Silver Rush of the 21st Century”.

In this thought-provoking discussion, Mike delves into the fundamental distinction between money and currency. Discover the historical significance of gold as money and witness how the U.S. dollar has drastically lost its value over time.

Learn about Mike's journey into precious metals investment and how Robert Kiyosaki played a pivotal role in his career.

 Explore the essential attributes of true money, including being a store of value, unit of account, and medium of exchange. Find out why gold has stood the test of time as a reliable store of value, while fiat currencies like the U.S. dollar continue to erode in value.

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

From Recaps Archives

The "Hidden Secrets of Money" series by Mike Maloney

Money vs Currency - Hidden Secrets Of Money Episode 1 - Mike Maloney

https://youtu.be/DyV0OfU3-FU?t=1

Seven Stages Of Empire - Hidden Secrets Of Money Episode 2 - Mike Maloney

https://youtu.be/EdSq5H7awi8?t=1

This Timeline Shows The Death Of The US Dollar As World Reserve - Hidden Secrets Of Money Episode 3

https://youtu.be/y-IemeM-Ado?t=1

The Federal Reserve: Biggest Scam In The History Of Mankind - Hidden Secrets of Money Ep 4

https://youtu.be/iFDe5kUUyT0?t=1

Where Does Money Come From? - Hidden Secrets Of Money Ep 5 - Mike Maloney

https://youtu.be/OQWMd_NPSBA?t=1

Top 4 Reasons For Deflation BEFORE Hyperinflation - Hidden Secrets Of Money Episode 6 (Mike Maloney)

https://youtu.be/8GP87dgTqF8?t=1

The Money Illusion - Hidden Secrets Of Money Episode 7 - Mike Maloney

https://youtu.be/P4_1pwsm5LY?t=1

From Bitcoin To Hedera Hashgraph (Documentary) Hidden Secrets Of Money Episode 8

https://youtu.be/SF362xxcfdk?t=1

Fall Of Empires: Rome vs USA (Hidden Secrets Of Money Ep 9)

https://youtu.be/OuOcnGAv4oo?t=1

American Bread & Circus (Hidden Secrets Of Money Ep 10)  https://youtu.be/fiCKf7hfagk?t=1

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 8-18-24

Good Afternoon Dinar Recaps,

Colorado Church group tokenizes $2.5M chapel

This may be the first tokenized church in the world.YEP

A network of affiliated church groups called the “Colorado House of Prayer” has tokenized its main chapel in an effort to purchase the $2.5 million building. 

The pastor heading the project, Blake Bush, says he was compelled by a higher power to use blockchain technology as a tool for advancing the group’s mission.

Tokenize the building

According to a report from Forbes, Bush’s congregation and other church groups had been renting the building from its owner, a local businessperson who also owns a car dealership.

The 11,457-square-foot building, called “Old Stone Church” due to its stone exterior, was purchased by its current owner in 2022 at a cost of $2.2 million. Reportedly, Bush and the Colorado House of Prayer group intend to purchase the building for $2.5 million

Bush says he came up with the idea of tokenizing the building — putting it on the blockchain as a digital asset that can be split into shares — after a spiritual experience.

“I heard the Lord say, ‘tokenize the building,'" Bush told Forbes, later adding that he had been “praying for this for years” and that God had told him to “go get my house.”

Blockchain and real estate

In order to accomplish his holy mission, Bush and the group created “Stone Coin,” a digital asset used to raise money for the purchase of Old Stone Church. The coin is tied to a real estate token created by REtokens and running on the Polymesh private blockchain.

Like any tokenization project, the results will depend on the amount of positive token-flow and reactive value. The project is reportedly seeking investors after having raised about half of its goal.

In the future the token’s board, which includes Bush and other religious leaders as well as the mayor of a nearby town, plans to open up token sales to non-parishioners. While this could potentially put the digital asset ownership at risk of an outsider takeover, Bush doesn’t appear to be too concerned about that.

When presented with the notion that, for example, Satanists could end up making a run on the church’s tokens, Bush quipped that he’d be grateful, “let’s introduce you to Jesus.”

@ Newshounds News™

Source:  CoinTelegraph

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“How does the ILP have global scalability?”

Because it is based on the internet.🎯  The internet is technology that is already global, has unlimited volume, and unlimited scalability..  And can reach any Human with an internet connection.💯

Now, overlay the internet with the ILP, and you have an international payments routing system that finds that most efficient route online to facilitate transactions between payment systems.  

Powered by the XRPL🧩

Ripple’s solution is a hybrid solution that combines the ILP and the XRPL, as illustrated below as well.✅

@ Newshounds News™

Source:  SMQKE (@SMQKEQG) on X  ,   Nth Exception

☝️☝️☝️ THIS IS THE QFS ☝️☝️☝️

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Newly Released Map Illustrates XRP’s Role as a Future World Reserve and Bridge Currency

▪️ XRP may play a top role in bridging different countries’ CBDC in a possible global monetary reset.

▪️The cryptocurrency is best suited for this purpose owing to its cross-border settlement capabilities.

XRP will likely serve as a world reserve and bridge currency in the future. Per a recently published Map, this proposition comes amid heightened discussions of a potential restructuring of the international monetary system.

XRP’s Role as Global Reserve and Bridge Currency

Crypto enthusiast Edward Farina highlighted the map in a post on the social media platform X. The map describes how coins like XRP can serve as a global reserve asset, with gold as an essential anchor.

As a result, it challenges the long-running discussion surrounding gold as the cornerstone of a stable monetary system.

A map presents how $XRP could act as a World Reserve Currency and Bridge Currency 🔥  

See Twitter Link Below for entire map

Gold has historically been seen as a reliable store of value and a hedge against inflation. However, its role in modern finance is increasingly being viewed through the lens of digital transformation.

The map outlines a tiered structure for global currencies. At the top of the rank is the SDR, an international reserve asset developed by the International Monetary Fund (IMF). Next on the rank are Tier 1 currencies, which may include the U.S. Dollar, Euro, Japanese Yen, and others from top nations.

Beneath these are Tier 2 assets encompassing Central Bank Digital Currencies (CBDCs). These assets would be connected to the currencies of different countries and issued by their central banks.

 This means bridge currencies like XRP can facilitate conversions and transactions between these government-backed digital currencies, allowing them to interact seamlessly across national boundaries.

The map implies that XRP could help speed up the conversion of other CBDCs. This expectation is based on the digital asset’s ability to provide liquidity and reduce friction in international transactions.

XRP’s role as a bridge currency was accelerated during COVID-19 due to difficulties in making cross-border payments. At the time, Ripple’s head of global banking, Marjan Delatinne, said XRP is well positioned to bridge multiple or different CBDCs.

XRP’s role as a bridge currency is crucial due to the multiple digital currencies that are used globally. XRP can help ensure interoperability between these digital currencies for efficient global commerce.

@ Newshounds News™

Read More:    Crypto News Flash  ,   Twitter

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Newshound's Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

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Follow the Timeline 

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Subscribe to Newsletter

Thank you Dinar Recaps