Seeds of Wisdom RV and Economic Updates Wednesday Evening 10-2-24

Good Evening Dinar Recaps,

MELD GOLD LAUNCHES GOLD AND SILVER-BACKED STABLECOINS ON XRP LEDGER, LEVERAGING NATIVE FEATURES

▪️The first transaction of tokenized gold and silver was made on the XRP Ledger on September 29 after Ripple and Meld Gold disclosed their collaboration months ago.

▪️According to the original plan, two stablecoins fully backed by gold and silver were supposed to be fully rolled out in the third quarter of the year (Q3 2024).

In June, CNF reported a groundbreaking collaboration between Meld Gold and Ripple that was meant to deliver fungible gold and silver assets on the XRP Ledger (XRPL). On September 29, the first transaction on the mainnet finally went through, with the subsequent rollouts expected this month, October.

🚨 JUST IN: MELD GOLD CONFIRMS TOKENIZED GOLD ON $XRP LEDGER—First transaction went through yesterday and a further rollout will happen through October.” — @meldgold 🙌Meld Gold will release two new stablecoins on XRP Ledger, backed by Gold & Silver.

 Each token will… https://t.co/HmYs3tsVnM pic.twitter.com/wAUgCaXnMM— Good Morning Crypto (@AbsGMCrypto) October 1, 2024

Drawing insight from our previous publication, the collaboration between Meld Gold and Ripple primarily sought to enable greater access, efficiency, and utility to Real-World Assets (RWAs).

The plan was to offer institutional-grade functionality and built-in features to ensure more secure, efficient, and scalable financial services and use cases.

According to our press release review, the original plan was to release two new stablecoins on the XRPL backed by gold and silver. Specifically, each token was reported to represent 1kg of these metals that leading custody providers would hold – MKS Pamp and Imperial Vaults.

 In that report, Meld Gold CEO Michael Cotton disclosed that his team is very well-versed in every component of the supply chain and would contribute massively to the expected RWA revolution.

Our team of industry experts has deep experience in every component of the supply chain, from origination, certification, and logistics, to storage and insurance.

Our passion for disrupting and advancing digital ownership is ideal for the coming RWA revolution. This is the industry, delivering the systems only they could design, to bring the physical world on-chain.

What Meld Gold Seeks to Achieve with XRPL Integration
According to Meld Gold, its offer of the world’s most accepted assets on-chain would certainly redefine the XRPL’s Decentralized Finance (DeFi) ecosystem.

With this, both new and old users would leverage the XRPL’s native features, which include Decentralized Exchange (DEX) and Automated Market Maker (AMM).

Over the years, Meld Gold has closely worked with precious metals in its quest to provide infrastructure for a successful transition of assets on-chain. According to a blog post, with the first transaction reportedly successful, the subsequent months are expected to witness additional upgrades.

This would include the “implementation of patent-pending work on minimized trust systems for connecting physical items to the blockchain.”

Utilizing blockchain technology offers significant advantages, such as immediate global accessibility, simple and secure ownership accountability, and standardized data rails for interoperability and velocity. 

A key component, often overlooked, is how the assets are connected to the blockchain and precisely how they are accounted for. Precious metals, being physical assets, always require trust, but minimizing this to only the required level is crucial.

Recently, Ripple announced that its yet-to-be-launched RLUSD stablecoin on the XRPL has reached an advanced phase, with 99% of its total supply minted. As we reported, 800,000 new tokens have been created after 100,000 tokens were generated several months ago.

@ Newshounds News™

Source:  Crypto News Flash

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RIPPLE UNVEILS SIMPLIFIED VAULT AND LENDING UPDATES ON XRP LEDGER

▪️Ripple simplifies asset management on the XRP Ledger with updates to the Vault and Lending Protocols.

▪️Meld Gold partners with Ripple to introduce tokenized gold and silver assets on the XRP Ledger.

In a tweet, Ripple has announced significant improvements to its Vault and Lending Protocols, paving the way for more efficient and user-friendly operations on the platform. These modifications are part of a larger goal to improve asset management and lending operations in the XRP Ledger (XRPL) ecosystem, which benefits both developers and users.

Streamlined Asset Management and Lending on the XRP Ledger
According to the statement, the XLS-65d Single Asset Vault (SAV) has been significantly redesigned, reducing its structure to increase overall efficiency. The revised design removes two previously required transactions, allowing the Vault to store assets directly.

This update is designed to make asset management faster and more cost-effective for users by eliminating unnecessary processes that previously hindered the process.

Meanwhile, the XLS-66d Lending Protocol has been revised to reflect these Vault modifications. Previously, users had to go through many processes to deposit and redeem assets, but the revised protocol eliminates these extra steps completely.

This streamlined approach greatly minimizes friction for users, resulting in a more seamless lending experience inside the XRPL ecosystem.

One of the primary points mentioned by Ripple is its compliance-first strategy. Both the Vault and Lending Protocol improvements are intended to simplify and integrate Clawback and Freezing requirements.

These modifications ensure that the protocol complies with industry rules while also making it easier for users to traverse the platform. By tackling these regulatory concerns square on, Ripple hopes to boost trust in its ecosystem, particularly among institutional users looking for a compliant blockchain solution.

In addition to Ripple’s recent improvements, the XRP Ledger is evolving through collaboration and innovation. According to a prior CNF report, Meld Gold has teamed with Ripple to launch tokenized assets representing gold and silver on the XRPL.

The initial objective is to introduce two stablecoins backed by these precious metals, which will increase the XRP Ledger’s use cases. This move is a huge step forward in integrating real-world assets to the blockchain, giving consumers a concrete connection to gold and silver while remaining inside the XRPL’s decentralized infrastructure.

On the other hand, as we previously noted, Xaman Wallet version 3.0 has added a revenue-sharing model to help XRPL developers and improve the whole ecosystem.

The most recent upgrade includes several important features, including a threshold-based paradigm, universal transaction signing, and increased developer and user accessibility. These upgrades aim to make the XRPL ecosystem more accessible and developer-friendly, fostering innovation and growth.

Meanwhile, as of writing, XRP is trading at $0.6014, down 3.18% over the last 24 hours. This fall has taken XRP’s market cap back under $35 billion.

@ Newshounds News™

Source:  Crypto News Flash

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EXPLAINED TOKENOMICS - WHAT IS TOKENOMICS AND WHY DOES IT MATTER? | Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts   

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Economist’s “News and Views” Wednesday 10-2-2024

BE CAREFUL! This Is Serious - The Crash Will Be WORSE Than 2008 - Chris Vermeulen

Finance Flow:  10-1-2024

America's slowing job market is weighing heavily on consumer sentiment. The latest survey from the Conference Board reveals that Americans have become significantly more pessimistic about the current state of the U.S. economy and the future of the job market.

Adding to these concerns are exceedingly high debt levels across major global economies, increasing the likelihood of not just one but potentially multiple debt crises ahead. In the U.S., the Congressional Budget Office projects that the debt-to-GDP ratio will surpass 150% by 2034, up from the current 98%, pushing the nation's debt to its highest level in history.

Chris Vermeulen of The Technical Traders, speaking with Liberty and Finance, shares his insights on the current market, suggesting that a significant decline may be on the horizon as the stock market shows signs of topping out.

He points to several warning signals, including worsening economic data, rising unemployment, maxed-out business sales, skyrocketing credit card debt, and increasing mortgage delinquencies in both commercial and residential sectors. Vermeulen believes these are typical indicators of a Stage 3 market environment, where underlying issues begin to worsen before becoming more visible.

 More stocks are joining the S&P 500's recent surge to record highs, easing earlier concerns that the 2024 rally was primarily driven by a few giant tech companies.

The index is on pace to gain 5% in the third quarter, which ends on Monday. This time, however, optimism surrounding the Federal Reserve’s rate cuts is encouraging investors to move into regional banks, industrial companies, and other sectors poised to benefit from a stronger economy and lower interest rates, in addition to the tech stocks that have already seen significant gains this year.

Despite this positive momentum, Chris Vermeulen warns of several concerning signs that suggest the stock market is beginning to break down, even though the indexes continue to perform well. He foresees a potential correction of 30%, 40%, or even 50%, noting that the 2022 pullback of around 25% was just a precursor to what might be coming.

The Federal Reserve began its first rate-cutting cycle in four years earlier this month with a 50-basis point reduction, a move that Chairman Jerome Powell described as a measure to protect a resilient economy. According to LSEG data, traders are giving equal odds for another large rate cut when the Fed meets again in November, and they are forecasting over 190 basis points of cuts by the end of 2025.

 Several sectors of the stock market are benefiting from the expectation of lower rates and stable growth. The S&P 500’s industrial and financial sectors, considered among the most sensitive to economic shifts, have gained 10.6% and nearly 10%, respectively, in the third quarter.

Chris Vermeulen explains that even if the Federal Reserve continues to cut rates, as it did during the 2008 financial crisis, it won't necessarily save the stock market. He notes that during times of panic, investors often rush to sell their portfolios, particularly those trading on margin, which forces brokers to execute sales regardless of rate cuts.

This selling pressure, driven by fear and forced liquidations, can overwhelm any potential positive impact from the Fed's rate cuts.

https://www.youtube.com/watch?v=SWWW8UIaIA0

'I'll Cripple You': Port Workers Strike, Will Inflation Spike? | Brian Belski

David Lin:  10-2-2024

Brian Belski, Chief Investment Strategist of BMO Capital Markets, discusses the port worker strikes, escalating tensions in the Middle East, and where the S&P 500 going to close by year-end.

0:00 - Intro

1:10 - ILA dock strikes

6:24 - Inflation outlook

8:40 - Crude oil

10:49 - Middle East tensions

 13:30 - S&P 500 outlook

18:35 - Stock market valuations

 20:30 - Sector preferences

24:34 - Canadian stock market

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

Chinese Yuan Overtake US Dollar: What's Going On?

Fastepo:  10-1-2024

China has escalated its economic rivalry with the United States, this time taking direct aim at the U.S. dollar. In recent months, Chinese financial institutions have significantly increased their short positions against the American currency, betting on its decline.

Estimates suggest that Chinese banks have allocated over $100 billion toward these positions, positioning themselves to profit from any devaluation of the dollar. The strategy revolves around sophisticated financial instruments, particularly foreign exchange swaps, which allow Chinese banks to effectively "short" the dollar.

This maneuver enables these banks to benefit from shifts in currency values. In practice, Chinese institutions swap yuan for dollars at a predetermined rate. Should the dollar depreciate by the contract’s end, the American counterpart owes more yuan, generating gains for the Chinese bank.

These activities have grown substantially, with state-run Chinese banks reportedly building up more than $100 billion in short positions by 2024.

The tactic has been deployed as part of broader efforts to stabilize the yuan without exhausting China's foreign reserves. This currency strategy is driven by the mounting pressure on the yuan, which has been weakened by both the Federal Reserve's hawkish policies and a cooling Chinese economy.

By engaging in these swaps, Chinese banks have been able to secure returns during periods of market volatility, sometimes reaping returns of up to 6% for traders involved in these deals.

https://www.youtube.com/watch?v=A8Na0_SnYac

Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 10-02-24

Good Afternoon Dinar Recaps,

RIPPLE ISSUES AN IMPORTANT WARNING FOR ITS UPCOMING STABLECOIN: DETAILS

▪️Ripple cautioned users to beware of fake claims that its stablecoin is live.

▪️The SEC labeled the product as an unregistered asset, adding to its ongoing legal disputes with the company.

XRP Army Beware
Earlier this year, Ripple announced it will launch a stablecoin pegged 1:1 to the American dollar. It will be called RLUSD and will be available on the XRP Ledger (XRPL) and Ethereum. According to CEO Brad Garlinghouse, the product could serve as a bridge between the cryptocurrency industry and traditional finance, while numerous analysts believe its eventual launch could positively impact XRP’s price.

Last week, Ripple’s team minted over 800,000 RLUSD on XRPL and Ethereum, representing 99% of the total supply. This caused speculation that the stablecoin is already live.

The company, though, assured it is still in the private beta testing phase. It also cautioned users to beware of dubious individuals who claim the opposite.

Numerous X users thanked Ripple for the heads up. The popular community figure Vet was among those reacting below the post, saying:

“Unfortunately, a necessary PSA. Even accounts with a gold checkmark are impersonating and scamming people. Definitely stay vigilant, and the best thing is to do nothing, don’t click any links, and wait for official sources.”

Controversy With the SEC… Again
Ripple’s plans to introduce a stablecoin caused huge excitement in the cryptocurrency space. However, it was not welcomed by everyone, with the US Securities and Exchange Commission (SEC) describing it as a “new unregistered crypto asset.”

This is not the first quarrel between the entities. To the uninitiated ones, the SEC sued Ripple in December 2020, accusing it of conducting an unregistered securities offering by selling XRP tokens. The case passed through numerous developments over the years, reaching an important milestone in August 2024.

Back then, Judge Torres determined that the sales of XRP on secondary markets to retail investors did not constitute securities transactions. Nonetheless, she ordered Ripple to pay $125 million for violating certain securities laws.

The figure represents a massive discount on the $2 billion initially sought by the regulator, causing many to declare the ruling a major Ripple victory. Both parties have until October 7 to appeal, and the SEC seems more likely to do so.

Over the past few weeks, there have been increased rumors about such a potential scenario. American lawyer Fred Rispoli, for example, thinks the chance for an appeal is 60%.

@ Newshounds News™

Source:  CryptoPotato

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WILL ADA PRICE REACH $0.5 AS CARDANO MIDNIGHT TESTNET GOES LIVE?

The long awaited testnet for Cardano privacy protocol Midnight Network is finally out, potentially setting ADA price for new rally

▪️Cardano Midnight testnet has gone live after months of development

▪️The testnet is only available to developers for now

▪️ADA price, down in downtrend may benefit in the long term

Cardano has entered the spotlight again with the Midnight Protocol testnet, a trend that may bode well for ADA price. Per the latest update, the Midnight protocol announced that its long-awaited testnet is now live for developers.

The Cardano Midnight Testnet – Key Note To Developers
Cardano first introduced the Midnight Protocol as its privacy solution in 2023. Since then, the team has invested time in developing it in readiness for full rollout. As announced, the testnet will test out important features that can guarantee a stable Sandbox environment for the protocol.

With Midnight, developers will have the opportunity to build functional applications. While many alternative protocols exists that can offer this capability, with Midnight, user’s sensitive data are protected. The goals of the testnet are limited and it aims to create a simulation of a full mainnet launch.

To achieve this testnet function, the Cardano protocol said it “has expanded its capabilities and hardened the network’s codebase to reduce the need for regularly scheduled chain resets when upgrading.”

For developers who plans to participate in the testnet can help build applications in the sandbox environment. Beside this, they can help discover data protection capabilities, and influence the network. Ultimately, the overall enhancement will bolster Cardano as a protocol and ADA price in the long run.

@ Newshounds News™

Read more:  CoinGape

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UK OPENS APPLICATIONS FOR DIGITAL SECURITIES SANDBOX

In January new legislation came into force in the UK supporting a five year Digital Securities Sandbox (DSS) which temporarily relaxes some legal requirements to explore new technologies including DLT experimentation. Today the Bank of England and Financial Conduct Authority (FCA) opened applications for the sandbox.

In traditional markets, trading is conducted on an exchange and settlement via a central securities depository (CSD). DLTs are designed to combine the two functions and the sandbox supports that.

The bank emphasized that the rules in the DSS are flexible, allowing the regulators to make adjustments as they learn more. Financial instruments considered in scope include equities, corporate and government bonds, money market instruments such as commercial paper and certificate of deposits, fund units and emissions allowances. Derivatives and cryptocurrencies are excluded.

The regulators published guidance, a policy statement and an application form.

“The DSS lays the foundation for market participants to realise these benefits (of digital securities) in a safe, regulated environment and importantly, puts the UK in a strong leadership position when it comes to tokenisation,” said Quant CEO Gilbert Verdian.

“With the EU having already launched its DLT pilot regime, it is vital that the UK does not fall behind in this new era of digital finance.”

That said, the DLT Pilot Regime hasn’t exactly gotten off to a flying start. More than 18 months have passed since the legislation came into force and regulators have not yet approved any applications. However, that’s expected to change soon.

Digital Securities Sandbox rule changes
The Bank of England and FCA ran a consultation for the Digital Securities Sandbox, which closed in late May.

The regulators specified activity limits for the sandbox, the topic that attracted the most feedback from the consultation.

The global asset class figures remain unchanged (for the most part). However, the limits for individual firms have become more flexible.

Regarding fund management, in contrast to other asset classes, the regulators will not impose an aggregate limit on fund tokenization activity in the DSS.

Foreign currency assets now in scope
One of the most notable changes is the expansion of scope to include other currencies, such as euros and dollars. The regulators will specify global limits for these currencies, which will be in addition to the sterling limits. However, limits on individual firms will account for all currencies.

Regarding settlement, there isn’t a lot of movement. Stablecoins are still ruled out, with central bank money settlement considered the default. The Bank of England highlighted the availability of the omnibus bank account facility (as used by Fnality) and that it’s working with industry on an RTGS synchronization settlement facility.

 It said there was a possibility of wholesale CBDC experiments, but it didn’t make any promises. Settlement in commercial bank money is allowed, although it must be justified.

With long delays for approval under the EU’s DLT Pilot Regime, the regulators outlined expected timeframes. Banks that apply now can potentially be live by February 2025. go-live will probably be November 2025 or later. Other FMIs are somewhere in between.

@ Newshounds News™

Read more   Ledger Insights

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🌍 Managing Sudden Wealth Through Smart Team Building Bob Lock | Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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What OPEC And BRICS Just Announced Is About To Send The Entire Energy Market Into A Frenzy

What OPEC And BRICS Just Announced Is About To Send The Entire Energy Market Into A Frenzy

Tech Revolution:  10-2-2024

These days, the world is changing fast, especially when it comes to how countries are teaming up over energy. The partnership between BRICS and OPEC+?

Yes, it's shaking things up in a major way. With countries feeling the heat from Western sanctions and scrambling for energy security, this collaboration is becoming a really big deal.

BRICS and OPEC+ hold a massive chunk of the world’s energy resources. They’re not just playing the game—they’re flipping the script on the global economy.

So, here’s the scoop: Russian President Vladimir Putin recently made waves at the Russian Energy Week forum. He basically said that Russia’s energy sector is ready to hit its targets, despite what he called “illegal” Western sanctions. He pointed out that oil and gas sales make up about a third of Russia’s total state budget.

That’s huge, especially with everything going on in Ukraine. It’s what keeps the Russian economy going. Putin also touched on how teaming up with BRICS helps balance out Western influence. He said, “Russia fulfills its obligations to supply energy resources to the global market,” which shows how Russia is trying to stabilize things through groups like OPEC+ and the Gas Exporting Countries Forum. He made it clear that Russia is sticking close with OPEC+ oil producers, standing strong together against outside pressure

Despite the sanctions, Putin mentioned that 90% of payments for Russian energy exports come from “friendly” countries that haven’t slapped on sanctions. This really shows why a new energy strategy is needed, and he hinted that one could be coming soon to handle this changing landscape better.

Türkiye is really making moves in the BRICS alliance, and President Recep Tayyip Erdoğan is all in on it. He’s excited about the potential Türkiye could tap into by getting involved with groups like BRICS and ASEAN.

Erdoğan thinks this could shake up the regional landscape and maybe even kick off a new geopolitical structure. He also highlighted Türkiye’s strong connections with countries across Europe, Central Asia, and Africa.

Frustrated with how slowly things are moving in terms of joining the European Union, Türkiye has officially applied to join BRICS. Erdoğan is optimistic that this membership could open up fresh opportunities for economic cooperation and partnerships, especially beyond its usual Western allies.

 If Türkiye does get into BRICS, it could really boost the bloc’s influence, thanks to Türkiye’s strategic location and deep historical ties. BRICS just got a major upgrade!

 Now with new members like Iran, the UAE, Ethiopia, Egypt, and Saudi Arabia, the group is packing some serious power on the global energy stage. With these additions, BRICS now controls 42% of the world’s oil and gas reserves and a massive 72% of the world’s rare earth metals.

 That’s a serious chunk of the world's critical resources! This kind of control means BRICS isn’t just a big player in energy anymore—it’s now a force to be reckoned with in industries that depend on rare earth metals and coal too.

This dominance gives BRICS the power to influence resource markets and challenge the rules that have been set by traditional Western institutions. The implications of this are huge, as BRICS positions itself as a real alternative to the usual economic heavyweights.

As BRICS continues to grow, it’s shaping up to be a solid alternative to the usual Western institutions like the World Bank and IMF. This group is all about pushing for a different economic model—one that’s focused on fair development and spreading resources more evenly.

And with the BRICS development bank in play, there’s potential for countries to find new financing options that help them sidestep traditional Western financial systems. That could be a total game-changer! You can really see the global power shift as BRICS starts making moves in the resource markets.

With such a huge chunk of the world’s energy resources under its belt, BRICS can score some great deals for its members. There’s even talk about BRICS exploring non-dollar transactions, which could seriously shake up the global economy and challenge the dominance of the U.S. dollar in international trade. If that happens, we’re looking at a major geopolitical shift!

https://www.youtube.com/watch?v=8o3IhI-Vc1M

“Tidbits from TNT” Wednesday Morning 10-2-2024

TNT:

Tishwash: Economist outlines financial options as oil declines...and warns

An economic expert revealed the options available to the Ministry of Finance if oil prices continue to decline.

Salah Nouri told Al Furat News Agency: "The decrease in the selling price of exported oil affects the Ministry of Finance's commitment to financing the (current and investment) budget."

He explained that "the options before the Ministry of Finance are either to proceed with implementing the budget paragraphs, which means increasing domestic borrowing, which in turn affects the liquidity of government banks and the employees' pension fund, which are the lending entities, or to reduce funding for investment projects and some paragraphs of the current budget."

He warned that "reducing funding and spending leads to economic recession."

Nouri continued, "From a psychological and behavioral perspective, citizens with limited incomes fear the further decline in prices, which leads to a reduction in their monthly spending."  link

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Tishwash:  National Union: We are working to activate Article 140 to serve the disputed areas

The Patriotic Union of Kurdistan confirmed that it is working to support and assist the disputed areas and is working to resolve this issue in accordance with the permanent Iraqi constitution.

The Patriotic Union of Kurdistan announced, within the program of List 129 for the Kurdistan Parliament elections, several points to serve the disputed areas, which are working to activate Article 140 of the permanent Iraqi constitution and implement all its paragraphs, in addition to  normalizing the security, military and political conditions in the disputed areas that are going through abnormal conditions due to the repercussions of the referendum.

The Patriotic Union stressed that it insists on the share and entitlement of the Kurds, according to the election results, in the administration of those areas and the continuation of assistance to service institutions in the disputed areas, especially the Kurdish areas that were neglected by the administrations imposed on those areas and support for Kurdish studies in those areas and the acceptance of a good number of students in the universities of the region and  support and assistance to Kurdish cultural, artistic and sports institutions in the disputed areas. link

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Tishwash:  Banking Advisor: Government Committed to Opening New Horizons for Partnership with Investors

Wissam Al-Mulla the Prime Minister's representative and advisor for banking affairs, Saleh Mahoud, confirmed today, Tuesday, the government's commitment to supporting the Securities Commission and opening new horizons for partnership with investors, calling on the legislative authority to accelerate the issuance of the necessary legislation to meet the requirements of the modern market and enhance the investment environment in Iraq.

"It is a great honor to represent Prime Minister Mohammed Shia al-Sudani in this event organized by the Securities Commission," Mahoud said at the World Investor Day conference, which was attended by the Iraqi News Agency (INA) correspondent. "This conference represents a vital platform to strengthen ties between the government and investors and highlights investment opportunities available in Iraq,"
he added. "The world today lives in an era characterized by rapid economic changes, which requires activating the role of the securities sector as a major tool to stimulate economic growth," he added, adding that "the Iraqi government headed by Mohammed Shia al-Sudani is fully aware of the importance of this sector as a lever for growth and attracting local and international investments."

He pointed out that "global experiences have proven that investments are not only an engine for growth, but also a means to develop infrastructure, create jobs, and enhance transparency and efficiency in resource management," considering that "the Securities Commission is a vital partner in achieving these goals, as it works to regulate markets and enhance their protection.

" Mahoud stressed "the importance of cooperation between the public and private sectors," emphasizing that "the success of investments depends on investment partnerships that contribute to mitigating risks and increasing confidence."
He explained that "there is an urgent need to accelerate the issuance of the necessary legislation to update the legal system to suit the requirements of the modern market, as there must be clear mechanisms to protect investors and facilitate investment procedures, which contributes to improving the business climate in the country."

He pointed out, "the importance of strengthening corporate governance, as building a strong governance system is vital to ensuring transparency," stressing, "Investors must feel that their money is protected and that there are effective mechanisms to monitor performance."
Mahoud called for "focusing on education and awareness, as building human capacities and developing skills in the financial sector contribute to creating an attractive investment environment," stressing, "the importance of holding training programs and workshops targeting investors, bankers and government agencies."

He stressed, "the commitment of the Iraqi government and Prime Minister Mohammed Shia al-Sudani to providing support to the Securities Commission and opening new horizons for cooperation and partnership with investors," considering that "this conference is an important step towards building a prosperous and sustainable Iraqi economy."  link

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Tishwash:  Iraq's 2025 budget: Will the government deliver on its promises amid growing crises?

As the date for discussing the 2025 budget schedules in Iraq approaches, many questions are being raised about the government’s ability to meet its financial obligations amidst the growing crises. The Parliamentary Finance Committee, headed by its member Mohammed Nouri, confirmed that employees’ salaries are fully secured until the end of this year, but can these statements be relied upon in light of the current economic situation?

Despite the committee’s assurance that there is no delay in paying salaries, many question the government’s ability to address the delay in funding provincial allocations and ongoing projects. Development projects in Iraq have become underfunded, hampering efforts to develop infrastructure and improve basic services.

Moreover, reports indicate that the Iraqi government is facing significant challenges in balancing its financial obligations with dealing with economic variables, such as oil prices and inflation. While the Finance Committee hopes to launch project packages in the coming days, the question remains: Will these measures solve the current crises or will they worsen over time?

Responding to citizens’ needs and achieving sustainable development requires a comprehensive plan that goes beyond merely approving annual budgets. At a time when the Iraqi street is demanding improved services and job opportunities, the Finance Committee and the government appear to be in a race against time to ensure the country’s financial stability.

The situation remains as it is: statements confirming commitment, but the facts on the ground indicate otherwise. The government will have to face pressure from the street and increasing demands in the coming period, especially with the approach of elections and growing frustration among citizens. Will the government be able to strike a balance between pledges and reality? The coming days will reveal that.   link

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Mot: .. * New month alert *

Mot: .. The actual size of bears.

Seeds of Wisdom RV and Economic Updates Wednesday Morning 10-02-24

Seeds of Wisdom RV and Economic Updates Wednesday Morning 10-02-24

Good Morning Dinar Recaps,

CANARY CAPITAL LAUNCHES FIRST U.S. HBAR TRUST FOR INSTITUTIONAL INVESTORS

Canary Capital has introduced the U.S.’s first HBAR Trust, expanding crypto options for institutional investors.

This move offers institutional investors access to Hedera's HBAR, the native crypto of the Hedera network. The trust caters to accredited investors seeking exposure to advanced crypto investment strategies.

According to the company announcement, this is the first dedicated HBAR trust in the United States.

HBAR investment options
The Hedera network is a distributed ledger technology used by enterprises for various applications, such as tokenizing assets, issuing non-fungible tokens, and developing Web3 applications. This trust gives U.S. investors a structured way to invest in HBAR.

Steven McClurg, former co-founder of Valkyrie and founder of Canary Capital, emphasized the growing demand for crypto investment options beyond popular assets like Bitcoin. He noted that despite the interest, many institutional investors lack reliable options to invest in more innovative crypto projects.

“The accelerating demand for crypto offerings seems to be exponential since this year’s launch of Spot Bitcoin ETFs, yet there remains a gap regarding firms with institutional experience who are willing to continue to innovate and deliver solutions beyond retail products.” 
Steven McClurg

The Canary HBAR Trust addresses this gap, potentially paving the way for future crypto-focused investment funds such as ETFs. The trust is available for accredited individual and institutional investors, representing an opportunity for those looking to diversify their crypto portfolios.

Additionally, Canary Capital offers other crypto hedge fund solutions, targeting sophisticated and institutional investors seeking a blend of crypto and fixed-income strategies.

On Sept. 16, Hedera helped launch the MiCA Crypto Alliance with Ripple and the Aptos Foundation as founding members, aiming to help crypto firms navigate EU regulations, particularly the Markets in Crypto Assets regulation. The alliance focuses on improving transparency and fostering blockchain innovation.

@ Newshounds News™

Source:  Crypto News

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JAPAN CONSIDERS CHANGES TO CRYPTO RULES AS FSA LAUNCHES REVIEW: REPORT

The upcoming FSA review could drive reform in Japan’s crypto regulations, possibly paving the way for crypto ETFs.

Reports have emerged that Japan plans to assess the effectiveness of its cryptocurrency rules.

The review, which will take place over the next few months, could pave the way for the launch of crypto exchange-traded funds (ETFs) in the country.

Review to Evaluate Investor Protection
The news was first reported by Bloomberg, which quoted an unnamed official from Japan’s Financial Services Agency (FSA). According to the report, the review will measure how adequate the country’s current approach to crypto regulation has been under the Payments Services Act (PSA).

Initially enacted in 2009, Japanese lawmakers have amended the PSA several times to address the changes in the financial services landscape triggered by the emergence of digital currencies.

The act recognizes Bitcoin (BTC) and other cryptocurrencies as legal property. It also requires crypto exchanges to be registered and comply with the country’s Anti-Money Laundering (AML) and Counterfinancing of Terrorism (CFT) obligations.

Furthermore, Japan’s Financial Instruments and Exchange Act (FIEA) also plays a key role in digital asset regulation, especially with regard to crypto derivatives transactions. 

The FSA wants to ascertain whether these rules have effectively safeguarded investors, given that Japanese holders mainly use cryptocurrencies as investments rather than for payments.

According to Bloomberg, such a move could lead to changes in the laws or even a reclassification of digital assets as financial instruments under the FIEA. If that were to happen, analysts suggest that not only would it improve investor protection measures, but it could possibly make it easier for the industry to negotiate for lower taxes on crypto.

Potential Reforms for Crypto Taxes and Security
The country’s stringent crypto rules were fashioned to protect against occurrences like the Mt. Gox hack and subsequent bankruptcy, as well as 2023’s FTX debacle from happening or adversely affecting local crypto holders.

Only recently, the crypto exchange DMM Bitcoin lost more than $300 million worth of BTC to hackers. The platform later stated that it would reimburse all users who lost their crypto in the attack and that it would acquire a proportionate amount of the stolen BTC.

In the aftermath of the attack, the FSA demanded that DMM Bitcoin provide the regulator with a business improvement plan by the end of October that would outline how it intends to protect customer assets in the future.

Japan has already made some concessions to its crypto tax requirements. In June 2023, its National Tax Agency published a partial revision of its corporate tax guidelines exempting companies issuing crypto tokens from paying a 30% levy on their holdings.

Prime Minister Fumio Kishida has also been leading the charge in promoting Web3, a future iteration of the Internet expected to be built around blockchain and utilize crypto. This has led to some of the largest corporations in the country, including Sony and Mitsubishi Bank, getting into the business.

@ Newshounds News™

Source:  Crypto Potato

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The Trigger Has Been Pulled | Youtube

The Economic Ninja breaks down the attack by Iran on Israel and the East Coast Port Strike.

@ Newshounds News™

Source:  

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🌍 BAM! Gold - Silver - Dollar Is this a shift? | Youtube 

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Seeds of Wisdom RV and Economic Updates Tuesday Evening 10-01-24

Good Evening Dinar Recaps,

CRYPTO LAWS ARE COMING NO MATTER WHO WINS ELECTION: REP. TOM EMMER

Republican Majority Whip Tom Emmer laid out his top crypto legislative priorities for Decrypt, and explained why he thinks they’re likely coming sooner than many expect

The third-highest-ranking House Republican ascribes much credit for this rosy outlook to recent changes in tune on both sides of the aisle in Congress.

This spring, a substantial number of Democrats, including Senate Majority Leader Chuck Schumer, joined Republicans to vote to overturn an anti-crypto banking rule.

Days later, 71 Democrats including Nancy Pelosi voted to pass FIT21, a key crypto market structure bill.

Just last week, Emmer’s most senior adversary on the House Financial Services Committee, Maxine Waters (D-CA), told Punchbowl News that “crypto is inevitable.” Waters, for context, was a steadfast opponent of bills like FIT21 just months ago.

“That’s a momentous statement by Maxine,” Emmer said.

Why have so many Democrats changed their tune on crypto this year? Emmer thinks it comes down to electoral politics, and realizing that younger voters may be casting a ballot with crypto in mind.

“They saw that there’s this voting bloc, age 18 to 40, and [for] maybe one out of five of them… this is the issue they’re going to be voting on,” the congressman said.

While Emmer is now confident that crypto legislation is more or less inevitable, he maintains that Republican “trifecta” control of the House, the Senate, and the White House in 2025 would likely bring those laws into effect more swiftly than a Democratic-controlled government might.

If the Majority Whip was operating in such a dream scenario, he said he would prioritize three specific types of crypto-related bills for passage into law: a market structure framework like FIT21, his bill outlawing the creation of an American central bank digital currency (CBDC), and a bill to facilitate the creation of dollar-backed stablecoins anywhere in the world, so long as they meet certain criteria enforced by the U.S. Treasury Department.

Emmer thinks these laws, if enacted, would go a long way toward creating solid footing for American crypto firms and projects currently worried about regulatory uncertainty. The congressman balked, though, at the notion of going much further than such legislation.

“I have Republican colleagues in the Senate who [think] we’ve got to create a new regulatory department just to deal with crypto,” he said. “Be careful what you wish for. You do not want that.”

@ Newshounds News™

Source:  Decrypt

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CENTRAL BANK OF TANZANIA TO HOARD 20% OF TOTAL GOLD EXPORTS

The Central Bank of Tanzania will purchase 20% of all the gold directed for exports as the country prepares to diversify its reserves. The movement is seen as a reaction to the current acceleration of gold prices, with Tanzania aiming to amass at least 6 tones of gold this financial year.

Mining Regulator in Tanzania Enacts Directive to Retain 20% of the Gold Exports in the Country

Tanzania is set to increase its gold reserves as part of a move made by regulators to secure part of the gold produced in the country. 

A newly enacted law states that mining and trading firms will have to sell 20% of all the gold directed for exports to the Central Bank of Tanzania, which will seek to diversify and complement its reserves with this move.

The measure can be seen as a natural expansion of an already announced policy of buying gold from local miners using the national currency, the shilling. 

In 2023, Governor of the Bank of Tanzania Emmanuel Tutuba revealed that the bank had already purchased over 400 kilograms of gold, but sold it to increase its position in foreign currency.

The law, which will be in effect on October 1, indicates all the gold collected must be sent to two refineries: Eye of Africa Ltd and Mwanza Precious Metals Refinery Ltd. 

“All payments will be done according to the Bank of Tanzania arrangements,” the Tanzania Mining Commission stressed, without giving more details on the rates and prices miners will be paid. 

The goal is to purchase 6 tons of gold by this financial year.

Tanzania has been struggling with a lack of U.S. dollars and established restrictions on forex dealers to “foster macroeconomic stability and safeguard the stability of the financial system.” 

More recently, tourism authorities convened that all tourism fees must be paid in the local currency, incentivizing foreign tourists to exchange their dollars for shillings to support the country’s economy.

@ Newshounds News™

Source:  Bitcoin News

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Will ADA Price Reach $0.5 As Cardano Midnight Testnet Goes Live?

The long awaited testnet for Cardano privacy protocol Midnight Network is finally out, potentially setting ADA price for new rally

▪️Cardano Midnight testnet has gone live after months of development

▪️The testnet is only available to developers for now

▪️ADA price, down in downtrend may benefit in the long term

Cardano has entered the spotlight again with the Midnight Protocol testnet, a trend that may bode well for ADA price. Per the latest update, the Midnight protocol announced that its long-awaited testnet is now live for developers.

The Cardano Midnight Testnet – Key Note To Developers
Cardano first introduced the Midnight Protocol as its privacy solution in 2023. Since then, the team has invested time in developing it in readiness for full rollout. As announced, the testnet will test out important features that can guarantee a stable Sandbox environment for the protocol.

With Midnight, developers will have the opportunity to build functional applications. While many alternative protocols exists that can offer this capability, with Midnight, user’s sensitive data are protected. The goals of the testnet are limited and it aims to create a simulation of a full mainnet launch.

To achieve this testnet function, the Cardano protocol said it “has expanded its capabilities and hardened the network’s codebase to reduce the need for regularly scheduled chain resets when upgrading.”

For developers who plans to participate in the testnet can help build applications in the sandbox environment. Beside this, they can help discover data protection capabilities, and influence the network. Ultimately, the overall enhancement will bolster Cardano as a protocol and ADA price in the long run.

How Will ADA Price Benefit?
When Midnight completes its testnet and finally goes live on mainnet, it is bound to enhance the appeal of ADA. Increasing demand from users may have a corresponding positive impact on ADA price.

As of writing, the price of the coin has nosedived and changing hands for $0.3543, down by 6.73% in 24 hours. This price fall is an not unexpected as the broader market has slipped into the bear zone lately. The fall has now derailed the positive streak of ADA price over the past week when the coin entered the top 10.

In reality, Cardano has entered the spotlight in no small way with the launch of Chang hard fork upgrade on the mainnet. While investors have not started pricing in the latest update as reflected in ADA price, the future appears bright for the coin.

Once this current price slump fades off, ADA price may retest the $0.5 mark. If the coin achieves this feat, it might chart a path for more rally ahead.

@ Newshounds News™

Source:   CoinGape  

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🌍 Christine Lagarde and Jon Stewart  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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30 Seconds To Midnight: THE FED JUST WENT BANKRUPT | Mike Maloney

30 Seconds To Midnight: THE FED JUST WENT BANKRUPT | Mike Maloney

10-1-2024

In this eye-opening video, Mike Maloney dives deep into the impending financial crisis and reveals that the Fed is genuinely bankrupt.

 Since 2022, the Fed has been writing IOUs to the U.S. Treasury, all while paying out billions in interest to the biggest banks and it is all coming out of YOUR pocket.

Learn how the 2008 economic changes set this crisis in motion, why the Fed is now stuck in a "death spiral," and what this means for the global financial system.

https://www.youtube.com/watch?v=qlow3WcF_jI

Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 10-01-24

Good Afternoon Dinar Recaps,

GHANA LAUNCHES GOLD COIN PRICED IN LOCAL CURRENCY

Ghana’s central bank launched a gold coin to boost domestic savings and manage liquidity. The coins are available in October and priced based on the London Bullion Market Association auction price. Despite efforts to strengthen the cedi, Ghana’s currency continues to depreciate against the U.S. dollar.

Gold Coins Priced in Local Currency
Ghana has launched a gold coin to encourage domestic savings and assist with managing money market liquidity. The coin, refined to 99.99% purity, is issued and guaranteed by the Bank of Ghana (BOG). The gold coins will reportedly come in one, half, and quarter ounces.

According to a Bloomberg report, the coins will become available in the first two weeks of October. Residents interested in purchasing the coins will be able to do so using Ghanaian cedi. BOG governor Ernest Addison said the coins are priced based on the London Bullion Market Association (LBMA) auction price.

“The Ghana gold coin enables the Bank of Ghana to mop up excess liquidity in the banking sector and will supplement the bank’s bills for liquidity management. It gives those resident in Ghana an additional avenue to invest to reap the benefits of the Bank of Ghana’s domestic gold purchase program,” Addison said.

As noted in the Bloomberg report, the Ghanaian central bank has acquired 65.4 tons of gold valued at $5 billion since it launched the oil for gold scheme.

@ Newshounds News™

Source:  Bitcoin News

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REGULATORY APPROVAL ALLOWS BINANCE TO LAUNCH FULL CRYPTO SERVICES IN ARGENTINA

Binance has secured registration with Argentina’s National Securities Commission, unlocking full crypto services for its local users.

Binance, the world’s largest cryptocurrency exchange, has officially launched its full range of services in Argentina after registering as a crypto service provider with the country’s National Securities Commission, according to a company announcement.

This regulatory approval marks Binance’s 20th registration milestone globally, expanding its offerings to a Latin American market. Binance’s mobile and web applications are now fully accessible to users across Argentina.

Binance in Argentina
This move allows Argentinians to trade, buy, and sell a wide variety of cryptocurrencies through Binance’s platform. This development aligns with the company’s strategy to expand in markets with strong crypto adoption potential.

Binance operates as an exchange where users can trade different digital assets, like Bitcoin or Ethereum. Think of it as a marketplace, but you deal with digital coins instead of traditional money.

This announcement follows other recent regulatory approvals in India, Kazakhstan, and Indonesia.

The exchange’s compliance program, which includes anti-money laundering policies and strict verification processes, demonstrates Binance’s efforts to meet regulatory standards and ensure user safety.

@ Newshounds News™

Source:  Crypto News

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RIPPLE LABS EXPANDS ITS SERVICES WITH DFSA APPROVAL

▪️Ripple Labs received principal approval from DFSA for service expansion.

▪️The approval aids in introducing cross-border payment services in the UAE.

▪️Ripple focuses on developing new products like the stablecoin RLUSD.

Ripple Labs, a digital asset infrastructure provider, received principal approval from the Dubai Financial Services Authority (DFSA). 

This approval enables the company to expand its services from the Dubai International Financial Centre (DIFC). This significant development strengthens Ripple’s global position as a regulated crypto service provider.

DFSA Approval Adds to Ripple’s License List
The principal approval from DFSA will assist Ripple in introducing cross-border payment services in the United Arab Emirates (UAE). In this context, services like Ripple Payments Direct (RPD) will be offered. This has the potential to expand the company’s user base by several million.

Ripple Continues to Increase Its Licenses
With the approval received from DFSA, Ripple continues to maintain licenses obtained from regions like Ireland and Singapore in past years. In 2022, Ripple acquired a license through a local startup to operate in Ireland.

Last year, it obtained a full license in Singapore, gaining regional Major Payment Institution (MPI) status. These licenses allow Ripple to operate outside the United States due to regulatory actions from the SEC.

Ripple Mints RLUSD in Private Beta Testing
In addition to its licenses and approvals, Ripple is also focusing on developing products within its ecosystem. The company is working on a stablecoin, RLUSD, pegged to the US dollar at a 1:1 ratio, which is currently in private beta testing on the XRP Ledger and Ethereum $2,510 mainnet.

By the end of September, 1.7 million RLUSD had been minted, with approximately 600,000 more produced as of September 30.

In light of these developments, Ripple’s DFSA approval enables the company to operate more effectively in the UAE and regional markets.

It also helps overcome challenges in partnerships due to regulatory pressures from the SEC. Ripple aims to make cross-border payment solutions faster, cost-effective, and efficient through regulatory compliance and critical infrastructure investments.

These steps by Ripple serve as an important example for the cryptocurrency sector. The company’s new licenses and developed products enhance its competitiveness in the global market while providing users with broader and more reliable service options.

@ Newshounds News™

Source:  CoinTurk  

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CARDANO-NATIVE USDA STABLECOIN LAUNCH SECURED BY BITGO PARTNERSHIP

BitGo partners with Anzens to provide custody for USDA, the Cardano-native stablecoin.

BitGo, a qualified custodian in the digital asset space, has announced its collaboration with Anzens, the issuer of USDA, to custody the Cardano-native stablecoin.

According to a recent press release, this partnership aims to enhance the security and functionality of the USDA stablecoin protocol. BitGo Trust, a leader in digital asset custody, brings its expertise to help integrate advanced financial infrastructure into the USDA framework.

@ Newshounds News™

Source:  The Crypto Basic

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COMPILATION ON IRAN STRIKING ISREAL @ Newshounds News™

JUST IN: 🇮🇷🇮🇱 Iran releases statement in following missiles launched against Israel:
"In response to the martyrdom of Ismail Haniyeh, Seyyed Hassan Nasrallah and Martyr Nilforoshan, we targeted the heart of the occupied territories."

@BRICSNews

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JUST IN: 🇮🇷🇮🇱 Over 400 missiles were launched at Israel, Iranian State Media says.

@BRICSNews

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JUST IN: 🇺🇸🇮🇷 President Biden orders US military to shoot down Iranian missiles fired at Israel.

@BRICSNews

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Hezbollah now joins Iran in sending missiles into Israel

Midnight Rider Channel

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UST IN: 🇮🇱 Israel says it will carry out powerful airstrikes throughout the Middle East tonight.
@BRICSNews

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JUST IN: 🇮🇷🇮🇱 Iran officially declares state of war against Israel.

@Cryptocurrency_Inside

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One person killed - a Palestinian Muslim from Jericho. Good job Iran….

Amir Tsarfati

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JUST IN: 🇯🇴 Jordan says its Air Force and aerial defenses intercepted Iranian missiles fired at Israel.

@BRICSNews

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🌍 Who's Behind the Global Currency Reset? |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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“U.S. Will Default” - Sovereign Debt Collapse To Flip Global Monetary System | Andy Schectman

“U.S. Will Default” - Sovereign Debt Collapse To Flip Global Monetary System | Andy Schectman

Sean Foo:  9-30-2024

Today we sit with Andy Schectman, the CEO of Miles Franklin.

As the US debt continues to explode, this will only end badly, a sovereign default will come. This has great consequences for everyone as the monetary will reset and gold might be the cornerstone of this change.

And with the Russia, US and China economic war raging, this pushes us closer to the cliff.

Timestamps & Chapters:

0:00 Trust In U.S. Assets Collapsing

7:57 Rate Cuts Accelerates The Default

14:23 Trump Or Harris Won't Save The Economy

20:18 US-Russia Extreme Conflict Risk

23:14 China Trade War Will Devastate The West

 26:10 US Will Have A Sovereign Debt Crisis

36:17 Global Monetary Reset To Involve Gold

46:39 Prepare With Real Assets

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

“Tidbits From TNT” Tuesday 10-1-2024

TNT:

Tishwash:  This is their value.. 9 American and Asian investment funds trade in the Iraqi market

The Chairman of the Securities Commission, Faisal Al-Haimus, confirmed today, Tuesday, that there are 9 American and Asian investment funds trading in the Iraqi market, indicating the size of these funds.

Al-Haims said during the World Investor Day conference, which was attended by the correspondent of "Al-Eqtisad News", that "the size of the Iraqi Stock Exchange represents a small percentage of the gross domestic product", noting that "there are 9 American and Asian investment funds trading in the Iraqi Stock Exchange".

He added, "The size of these funds reaches $500 million and is subject to increase," indicating that "setting the percentage of foreign investments at 49% hinders the entry of foreign investors."

Al-Haims pointed out that, "The new law will raise the foreign investor to 80%," expecting, "Iraq will accept an increase in the entry of foreign investors after the approval of the new law of the commission."  link

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

Tishwash:  Turkish businessmen in Diyala looking for investment opportunities

Diyala Governor Adnan Al-Shammari discussed with a delegation of Turkish businessmen the investment file in the province.

Al-Shammari said in a statement that he received a delegation of Turkish businessmen in his office in Diyala Governorate and discussed with them investment opportunities and the possibility of finding a suitable ground for investment in the governorate.

He stressed that investment in Diyala has become available and has fertile ground with the presence of many investment factors, especially since it enjoys great security stability.

He pointed out that the local administration attaches great importance to the issue of attracting international companies to invest in many strategic projects in the governorate.  link

**

Tishwash:  Iraq Warns Forex Companies over Dollar/Dinar Commissions

The Central Bank of Iraq (CBI) has identified irregularities in the operations of several exchange companies regarding the sale of U.S. dollars allocated to travellers.

A recent audit and monitoring of company practices revealed that some exchange firms have been charging citizens a commission of 50,000 dinars for purchasing dollars, double the amount stipulated by official directives.

According to Circular No. 8003/1/9, issued on July 11, 2024, the Central Bank had clearly instructed exchange companies to collect a commission of only 25,000 dinars from citizens when purchasing foreign currency. The current overcharging practices have been deemed in violation of these regulations.

The Central Bank has emphasized that these directives were introduced to streamline the process for citizens and ensure smooth, transparent transactions. Exchange companies found to be non-compliant with these guidelines risk exclusion from participating in the official foreign currency buying and selling system in the future.

The Central Bank has urged all companies to promptly adhere to the official directives to avoid further sanctions. This move underscores the institution's commitment to maintaining order and fairness in Iraq's currency exchange markets.  l

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

Tishwash:  Baghdad funds Erbil with 243 billion dinars to pay salaries of the region’s employees

Financial expert Hafidar Shaaban confirmed today, Tuesday (October 1, 2024), that the Federal Ministry of Finance will finance the region with an amount of 243 billion dinars.

Shaaban said in an interview with Baghdad Today, "The Federal Ministry of Finance will send this amount to the region, which is the remaining amount, for the purpose of financing the salaries of the Kurdistan Region in full, for the month of August."

He added, "Tomorrow, the Ministry of Finance in the regional government will begin disbursing employees' salaries, and Baghdad has asked the regional government to prepare the lists according to last February."

An informed source revealed, on Friday, September 27, 2024, the date for launching the disbursement of salaries for employees in the Kurdistan Region for the month of August.

The source told Baghdad Today, "The regional government needs 243 billion dinars to complete the full amount of employees' salaries, which amounts to 998 billion dinars."

He added, "Baghdad promised to send the amount next Sunday, and thus the salary list will be launched on the same day and the distribution will continue for only 3 days, and a few days later the salaries for the month of September will be funded, after the Ministry of Finance in the region sent the full salary list."

The Ministry of Finance in the Kurdistan Region announced yesterday, Thursday, "the delivery of the list of employees' salaries for the months of August and September, as requested by the Federal Ministry of Finance last time."

She explained that "in order to cover the deficit in August salaries, which is estimated at 243 billion dinars, the Federal Ministry of Finance decided to pay the suspended payments from February to August, and it is scheduled to start distributing salaries at the beginning of next week with the arrival of supplementary funding from Baghdad," stressing that she "is waiting to start sending September salaries to the region's employees and in order to start the process of auditing the payroll now  link

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Mot: .... and ON we Gooooooooooooooo! 

Mot: Get Ready - Ladies!!! 

Iraq Dinar News - Iraqi Stock Exchange - Private Sector - Water - Infrastructure Investment – Global

Iraq Dinar News - Iraqi Stock Exchange - Private Sector - Water - Infrastructure Investment – Global

MilitiaMan and Crew:  10-1-2024

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=pdCRjVSUYEc

Seeds of Wisdom RV and Economic Updates Tuesday Morning 10-01-24

Good Morning Dinar Recaps,

IOTA Powering Trade Across Africa: TLIP Takes Innovative Solutions to East Africa

▪️IOTA is among the sponsors of the African Customs & Trade Conference that takes place in Nairobi on October 7th

▪️The Trade and Logistics Information Pipeline (TLIP) will represent the IOTA ecosystem and display its market-leading solutions built on the IOTA network.

IOTA has been facilitating innovative solutions across the globe for years, with Africa among the regions where it’s changing the most lives. Come October 7th, IOTA will be showcasing its innovations and impact across the region as one of the sponsors of the African Customs & Trade Conference (ACT).

ACT will be held in Kenya’s capital, Nairobi, between the 7th and 9th of October and will focus on effective trade facilitation in the world’s fastest-growing continent under the theme “Borderless trade: Effective trade facilitation in the digital age.” 

Organized by Kenya’s tax agency, KRA, it will bring together industry thought leaders, including the heads of the revenue collection agencies across all 54 African nations. Others will include policymakers, academia, research organizations, trade experts, and tech providers.

IOTA has joined the event as a sponsor, alongside the likes of the Tony Blair Institute for Global Change, Germany’s main development agency, GIZ, and the Africa Export-Import Bank.

The IOTA ecosystem will be represented by the Trade and Logistics Information Pipeline (TLIP). It noted:

Join 54 Heads of Revenue Authorities, policymakers, & innovators at the ACT Conference, shaping the future of trade in Africa. We’re excited that TLIP built on IOTA, will present its digital solutions for streamlining customs & cross-border trade.

In a separate post, TLIP stated: “Expect discussions on innovative solutions to enhance trade across Africa, exploration of next-gen tech, and networking with key players in the sector.”

IOTA in Africa
TLIP has championed IOTA in the African region. Through its digital infrastructure, it enables secure and efficient cross-border collaboration between multiple parties, all done on the scalable, efficient, and feeless IOTA network.

TLIP enables participants across the entire supply chain to share and access digital trade documents in real-time, sourcing data and information from local databases, like Kenya’s tax agency database, as well as regional and global data ledgers. These documents range from export declarations, certificates of export, airway bills and more.

Globally, over $32 trillion is expected to be traded this year, with globalization leading to a more interconnected supply and distribution ecosystem that encourages specialization. However, despite its size, this sector is burdened by tedious and unreliable manual processes and paperwork.

Digital processes have failed as most participants don’t trust each other and have no way of verifying and authenticating information independently. new global trade avenue than the feeless and scalable IOTA?

This makes blockchain technology a perfect solution, and what better network to build this new global trade avenue than the feeless and scalable IOTA?

As we have reported in the past, IOTA has been facilitating global interconnected and sustainable trade via TLIP. The two have expanded to new frontiers, such as maritime activities, where cumbersome processes cost participants billions of dollars every year.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

EAST AND GULF COAST PORTS SHUT DOWN AS THOUSANDS OF WORKERS GO ON STRIKE

Tens of thousands of longshoremen went on strike at midnight ET, shutting down major ports along the East and Gulf coasts and choking off deliveries of everything from produce to auto parts.

Consumers aren’t likely to feel the pinch unless a walkout lasts for multiple weeks, because businesses and logistics firms took pre-emptive steps to blunt the impact with the holiday shopping season about to kick off. But a work stoppage could still cost the U.S. economy anywhere from several hundred million dollars to $4.5 billion a day, analysts and business groups say. Costs from redirecting goods along longer routes would be passed on to consumers.

The ports handle about half the ocean imports in the U.S. Varying estimates say the strike encompasses 25,000 to 50,000 members of the International Longshoremen’s Association. All told, the ILA has 85,000 members.

 Union leaders argue that big global cargo carriers have raked in huge profits since pandemic-era supply-chain snags drove up freight rates, saying workers haven’t sufficiently shared in those gains.

In a video posted to an ILA Instagram account, Harold J. Daggett addressed union workers at Maher Terminals in Elizabeth, New Jersey.

"This is going down in history what we're doing here," he said.

"They can't survive too long," he added.

The strike caps months of heated rhetoric between the union and the United States Maritime Alliance, or USMX, which represents major ocean freight and port operators.

The union is seeking raises, as well as limits on automation at ports that it says could cost jobs. The two sides hadn’t negotiated in the days leading up to the potential stoppage.

“The Ocean Carriers represented by USMX want to enjoy rich billion-dollar profits that they are making in 2024, while they offer ILA Longshore Workers an unacceptable wage package that we reject,” the union said in a statement Monday.

The USMX, meanwhile, said that it had been exchanging offers with the union and had hoped to avoid a work stoppage.

“Our offer would increase wages by nearly 50 percent, triple employer contributions to employee retirement plans, strengthen our health care options, and retain the current language around automation and semi-automation,” it said in a news release.

Several industries are prepared for the strike, having ordered goods in advance when it became apparent that a stoppage could start Tuesday, but analysts expect more serious impacts if the walkout lasts several weeks or longer. Trucking and other logistics companies raced in recent days to get as many goods as possible out of ports before a potential strike.

The vast port operations of New York and New Jersey stand to be most affected, with about 4,500 workers. New York Gov. Kathy Hochul said in a news release that she urged the two sides to come to an agreement but that preparations had been made to keep shelves stocked.

"In preparation for this moment, New York has been working around the clock to ensure that our grocery stores and medical facilities have the essential products they need," she said. "It’s critical for USMX and the ILA to reach a fair agreement soon that respects workers and ensures a flow of commerce through our ports. In the meantime, we will continue our efforts to minimize disruption for New Yorkers."

Business groups, including the U.S. Chamber of Commerce, have urged President Joe Biden to intervene using the 1947 Taft-Hartley Act. Under that authority, Biden could seek a so-called 80-day cooling-off period that would force dockworkers to stay on the job.

But while the White House has been in touch with the ILA and the USMX in recent days, Biden has said he isn’t looking to invoke the law. An intervention could also unsettle relations with organized labor 35 days before Election Day, as Democratic Vice President Kamala Harris looks to maximize her union support against Republican former President Donald Trump.

“Because it’s collective bargaining, I don’t believe in Taft-Hartley,” Biden told reporters Sunday.

@ Newshounds News™

Source:  NBC News

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INVESTMENT BANK REPORT IDENTIFIES RIPPLE AS A MAJOR COMPETITOR TO SWIFT

A report from global investment bank Houlihan Lokey mentions innovations in cross-border payments, revealing Ripple as a growing challenger to SWIFT.

A recent report from investment banking firm Houlihan Lokey discusses the improvements transforming the cross-border payments sector. The report, released in April as a Market Update, was recently spotlighted by XRP community figure WrathofKahneman (WOK).

One of the observations pointed out by WOK is that Ripple, a blockchain-based payment solution, is emerging as a serious competitor to SWIFT, the dominant player in cross-border payments for decades.

The report stressed that the cross-border sector sees about $190 trillion flowing globally in transactions annually. Notably, this makes the market a lucrative space where even incremental improvements in efficiency or cost reduction can have massive impacts.

Fragmented Payments Sector Presents Ripple with Opportunities
Per the report, the international payments market, while large, faces fragmentation. Traditional banking systems rely heavily on intermediaries, adding both cost and complexity to cross-border transactions.

These inefficiencies make the market ripe for disruption, particularly through new technologies that can simplify the process and reduce expenses. Ripple, leveraging blockchain technology, has positioned itself as a challenger to the legacy SWIFT network.

Notably, the system Ripple uses helps to provide faster settlement times, lower fees, and enhanced security compared to traditional banking systems.

Ripple and Blockchain Gaining Momentum
According to the report, Ripple and other blockchain solutions are beginning to make inroads into the cross-border payments market, competing with card networks and SWIFT’s established dominance.

Meanwhile, Ripple’s partnerships with various fintech companies further solidify its position. The report also highlights Airwallex, Nium, and Wise as other firms that are driving growth in this space. Two of these companies are Ripple partners.

For instance, Ripple’s partnership with Airwallex, confirmed in 2017, focuses on enabling efficient cross-border payments across its extensive network of business clients. Nium also teamed up with Ripple in 2020 to enhance its remittance services using RippleNet.

SWIFT Still Dominant but Facing Stiff Competition
Although SWIFT remains the leader, the report confirms its competition on multiple fronts. Besides Ripple and blockchain solutions, other fintech companies are providing alternative services that cater to the needs of businesses and individuals.

The report notes that firms such as Payoneer, TransferMate, and Thunes are also making strides, targeting the same clients who are tired of high fees and delayed settlement times typical of traditional systems.

The global cross-border business-to-business (B2B) payments market, expected to grow from $39.3 billion in 2023 to $56.1 billion by 2030, provides room for competition. Ripple’s positioning will likely become even more prominent amid the growing demand for more efficient, lower-cost solutions.

Furthermore, in the remittance space, Ripple’s partnerships with companies like Tranglo are already proving transformative. Tranglo joined forces with Ripple years back, but only fully integrated the ODL service from Ripple across all its routes in 2022.

@ Newshounds News™

Source:  The Crypto Basic  

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