Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 9-24-24

Good Afternoon Dinar Recaps,

BRICS NEWS:

BLOCKCHAIN-BASED BRICS’ INTRA-BANK PAYMENT SYSTEM ABOUT TO BE LAUNCHED

Imagine a world where the financial dominance of the U.S. dollar is challenged not by a single nation, but by a coalition of emerging economies. This is the potential future with the launch of a blockchain-based BRICS payment system — a move that could reshape global trade, financial markets, and even geopolitics.

 But what would this system look like? And what are the broader implications for both BRICS nations and the rest of the world?

The Vision of a BRICS Payment System
The BRICS nations — Brazil, Russia, India, China, and South Africa — represent nearly 41% of the global population and around 25% of the global GDP. 

Their growing economic influence has made them seek alternatives to the U.S.-led financial order, which is deeply tied to the dominance of the U.S. dollar.

The idea behind a BRICS payment system is to reduce reliance on the dollar in global trade and financial transactions. Traditionally, the U.S. dollar has been the cornerstone of international trade, but this dependence comes with risks, including vulnerability to economic sanctions and exchange rate fluctuations. 

A blockchain-based payment system offers an alternative — one that is decentralized, secure, and potentially more efficient.

Why Blockchain?
Blockchain technology is the backbone of cryptocurrencies like Bitcoin, but its potential goes far beyond digital currencies. 

At its core, blockchain offers decentralization, transparency, and security. Transactions are recorded on a distributed ledger that is virtually tamper-proof, reducing the need for intermediaries like banks and lowering transaction costs.

For BRICS, adopting a blockchain-based payment system could revolutionize how they trade, offering several advantages over the current SWIFT system, which is heavily controlled by Western financial institutions.

In addition to being a tool for bypassing sanctions (especially relevant for countries like Russia), blockchain would allow BRICS nations to settle transactions quickly and securely, minimizing the dependency on U.S. financial institutions.

The End of Dollar Dominance?
One of the most profound impacts of a BRICS blockchain-based payment system would be its challenge to the dominance of the U.S. dollar. Today, the dollar serves as the world’s reserve currency, meaning that countries use it as the primary medium for international trade and hold it in reserves. This dominance allows the U.S. to wield enormous influence over global finance.

However, the emergence of an alternative global payment system — especially one that includes major economies like China and India — could weaken this grip. BRICS countries would be able to trade among themselves in their own currencies or via a new BRICS cryptocurrency, reducing their exposure to dollar volatility and circumventing the need for dollar reserves.

While dethroning the dollar won’t happen overnight, a successful BRICS payment system would certainly pave the way for a multipolar currency system, with the dollar, euro, yuan, and a BRICS token all vying for dominance.

This shift could result in reduced demand for the dollar, leading to currency depreciation and potentially higher interest rates in the U.S. as the country faces difficulties financing its deficits.

The Geopolitical Stakes
A BRICS payment system wouldn’t just alter the financial landscape — it would also have significant geopolitical implications. For years, the U.S. and its allies have used the global financial system, particularly access to SWIFT, as a tool for enforcing economic sanctions. 

Countries like Russia and Iran have been cut off from the global financial system for political reasons, which has led to economic hardship and increased tension.

With a blockchain-based payment system, BRICS nations would be far less vulnerable to these types of financial measures. They could trade freely without fear of being shut out of the global banking system, thus diminishing the effectiveness of Western sanctions.

This could embolden BRICS members to pursue more aggressive foreign policies, knowing that their financial systems are insulated from Western pressure.

Challenges to Launching the BRICS Payment System
Of course, launching a blockchain-based BRICS payment system is easier said than done. One of the biggest challenges will be technological infrastructure.

While blockchain is a proven technology, creating a scalable, secure, and interoperable system that can handle the transaction volume of global trade is no small feat.

Interoperability is particularly important. The system would need to work seamlessly with existing payment systems, such as SWIFT and other national systems, to ensure that it is widely adopted. Moreover, there are significant regulatory challenges. Each BRICS country has its own financial regulations, and aligning these to support a unified payment system would require extensive collaboration.

Another challenge is trust and governance. Who would control this new system? While blockchain is decentralized by nature, the question of governance still looms large. Would China, as the largest economy in BRICS, dominate the system? How would decisions be made? These are issues that the BRICS nations would need to resolve before a launch.

Economic Benefits for BRICS Members
Despite these challenges, the potential benefits for BRICS members are immense. A successful payment system would strengthen economic ties between these nations, allowing them to trade more freely and efficiently. This could lead to reduced transaction costs, increased investment, and faster economic growth.

Moreover, a BRICS payment system would give these countries greater control over their monetary policies. Currently, many emerging economies face difficulties when the dollar strengthens, as their debts become more expensive to service. By moving away from the dollar, BRICS nations could reduce their exposure to currency fluctuations and gain more control over their economic destinies.

Impacts on the Global Economy
For the rest of the world, the launch of a BRICS payment system would represent a significant shift in the global financial order. 

Emerging markets that have close ties with BRICS nations, such as those in Africa and Latin America, could benefit from easier access to trade and investment. However, developed nations, particularly the U.S., might see their economic influence wane.

In the short term, we could see increased volatility in global currency markets as countries adjust to the new system. The U.S. dollar may lose some of its luster as a safe-haven currency, while currencies like the yuan could gain prominence. This could lead to higher borrowing costs for the U.S. government and businesses as global demand for dollars decreases.

A Game-Changer in Global Finance?
The launch of a blockchain-based BRICS payment system could be one of the most significant developments in global finance in recent history.

By reducing reliance on the U.S. dollar and bypassing traditional financial systems, BRICS nations could gain more control over their economic futures and reshape the global financial landscape.

 While challenges remain, the potential for a more decentralized, multipolar world economy is becoming increasingly likely. 

Whether this will lead to greater stability or new geopolitical tensions remains to be seen, but one thing is clear: the future of global finance is changing, and BRICS is leading the charge.

@ Newshounds News™

Source:  Medium

~~~~~~~~~

JUST IN: 🇹🇷🇮🇱 Turkish President Erdogan says "just as Hitler was stopped 70 years ago, Netanyahu and his murderous netBricwork must be stopped by an alliance of humanity."

BRICS Post Link

@ Newshounds News™

Source:  BRICS

~~~~~~~~~

JUST IN: 🇧🇾 Belarus President Lukashenko orders military generals to "prepare for war."

BRICS Post Link

@ Newshounds News™

Source:   BRICS

~~~~~~~~~

HOW DEMOCRATS HAVE SHIFTED ON CRYPTO

While Democrats are yet to outline much crypto policy, the Democratic National Convention showed a significant change in tone, say Justin Slaughter and Sheila Warren.

There’s nothing quite like a political convention. The pageantry of patriotic songs and speeches. The cavalcade of speeches by party leaders. And, of course, the thousands of balloons dropping like snow on the newly nominated presidential candidate.

Yet, for crypto, August’s Democratic National Convention was an especially auspicious one. Despite the open hostility of parts of the Biden Administration, crypto was for the first time a welcomed participant. It makes sense: crypto owners now comprise about 20 percent of all registered Democratic voters, according to a Paradigm poll of Democratic voters a few days before the convention.

There is severe electoral risk if some of these Democrats deflect to the Republican ticket in a race that could be won in the margins.

Considering that the Republicans have openly and aggressively courted crypto, crypto’s coming out at the DNC signaled that the industry was, finally, beginning to have a truly bipartisan hue. Those on the ground in Chicago got to see this blossoming of Democratic interest first hand.

While most of the crypto-focused conversations were offstage, there was a hint of crypto’s growing importance in the main convention hall too. Young pro-crypto members of Congress and candidates for Congress like Rep. Jasmine Crockett (D.-TX) and congressional candidate Shomari Figures of Alabama both received significant speaking slots.

 Some crypto companies also hosted policymakers for discussions off the convention floor, as other companies and organizations have done for decades. Vice President Harris herself stressed the importance of building an “Opportunity Economy” in her keynote, with a special grace note praising the role of Founders in making America prosperous.

This was just the proverbial tip of the political iceberg, though. It’s easy to forget when you’re watching convention programming during primetime, but political conventions are much more than a few hours of short speeches and slick videos. Conventions are, at base, about letting members of a political party agglomerate in one physical space every few years, both for socialization and for strategizing.

As part of this communal process, the week was filled with panels, meetings, and even press interviews, all of which are designed to help the party build consensus on its policy views, goals, and even beliefs. These are the interstitial material that truly comprises our decentralized political parties. And it’s here that crypto really got to make its voice heard.

Over the week, there were panels on the basics of how crypto works and how Democrats can work to rectify the party’s strained relationship with crypto.

There were discussions about the importance of maintaining the hegemony of the dollar and the role of stablecoins. And there were frequent coffee and water cooler discussions with dozens of policymakers about how they can appeal to crypto owners.

During chats that week with a host of different policymakers and opinion leaders, we were most struck not by the statements of crypto supportive policymakers, but the skeptics. 

Even some ardent crypto skeptics said the current enforcement-only approach at the SEC wasn’t working, and that there was a need for legislation. As two people who have been calling for reasonable legislation for years, this was music to our ears.

The other part that was especially notable was just how normal it was. Policymakers were curious about crypto, both how it worked and its involvement in this year’s elections.

But this curiosity was not hedged with the upturned nose that accompanied some discussions about crypto in DC even last year. Instead, we were seen as just another young and novel industry, one that policymakers were trying to grok.

The Harris campaign underscored this banal normality when it made news of its “support” for crypto’s growth in a press interview with the campaign’s policy director, Brian Nelson. Despite some anxiety about Nelson’s view of crypto given his recent role as Undersecretary of the Treasury for Terrorism and Financial Intelligence, Nelson announced on the third day of the DNC that a Harris Administration would “support” the growth of crypto in America. 

The statement was remarkable given how much a political war has been waged on crypto, and unremarkable for how basic it was. Why wouldn’t an American president want an industry to stay headquartered in America?

The Harris campaign has since released its platform, which has emphasis on entrepreneurs, small businesses, and American innovators. While crypto and other technologies are not mentioned by name, the rhetoric and tone used in the platform differs significantly from that of the Biden administration.

Since the DNC, both of us have continued to meet with policymakers and candidates from across the political spectrum, and what is remarkable is how similar most conversations are, whether with Democrats or Republicans down the ballot.

Policymakers are tired of (and in some cases, shocked by) the SEC’s approach under Chair Gensler. They want to preseerve and promote American national security and economic interests. And, by and large, they are deeply concerned about inadvertently ceding technological advantages to other jurisdictions, as happened with semiconductors.

More than anything else, an overarching feeling of simple acceptance for crypto pervaded Chicago. There are still many miles to go for the Democrats to actually find workable solutions for how they want to regulate crypto, but the first step to building something is to commit to doing it.

We were pleased to see Vice President Harris acknowledge recently that digital assets technologies need to be encouraged; while we may not have a schematic for how Democrats will execute a reset with crypto, both the DNC and recent Crypto4Harris event showed that Democrats across the ticket no longer question as a default whether crypto has a right to exist. That’s progress worth celebrating with a balloon drop.

@ Newshounds News™

Source:  CoinDesk

~~~~~~~~~

XRP NEWS: RIPPLE’S 1,700 BANK DEALS COULD SEND PRICES SOARING – HERE’S WHY!

XRP is pivotal as bulls fiercely defend the critical $0.5785 support, setting the stage for a potential breakout. With the price consolidating and eyeing key resistance levels at $0.5920 and $0.600, the question is: will bulls take over and drive XRP higher, or is another decline looming? This battle for control could define XRP’s next big move, with significant upside potential if key levels are breached.

Analyst Take on XRP Price
Crypto analyst known as CryptoTank shared a detailed thread on the essential factors that will push XRP’s price in the future, focusing on its utility for settling large-scale transactions between financial institutions.

According to CryptoTank, to understand XRP’s price, it’s critical to distinguish between market capitalization and utility. The value of utility assets like XRP is calculated by the value and volume transacted on the ledger, divided by the circulating supply. This differs from conventional market cap metrics and means that XRP’s price is inherently linked to its usage by institutions, not by retail investors.

Deep Liquidity Is Key for Banks
CryptoTank highlights that banks using XRP for settlements must have deep liquidity. Institutions such as Bank of America, SBI, JP Morgan, and Swift settle a staggering $25–30 trillion daily. 

Even if only 10% of these transactions are conducted using XRP, that’s about $3 trillion on the ledger, requiring an even larger liquidity pool—likely double the transaction amount—to avoid potential failures.

The need for such deep liquidity stems from banks’ inability to afford transaction failures. A failed transaction can lead to costly delays and complications. 

Therefore, liquidity pools must be robust enough to ensure smooth settlements, and this demand will be crucial in driving XRP’s utility and, consequently, its price.

Ripple’s Expanding Network
Ripple’s influence isn’t just limited to a few banks; the company has over 1,700 undisclosed agreements (NDAs), potentially amplifying XRP’s demand and liquidity needs.

CryptoTank emphasizes that the numbers given are just examples of a few key players, and when the full scope of these institutions is considered, the liquidity requirements—and hence XRP’s value—could be even more massive.

One of the major standout points is that retail investors have little to no influence on XRP’s price. The price won’t rise based on retail buying pressure because retail activity pales compared to the daily settlement needs of massive institutions.

Likewise, chart analysis, which many traders rely on, is ineffective for predicting XRP’s price movements because it cannot account for the utility and liquidity requirements that will ultimately determine the token’s value.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

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

Economist’s “News and Views” Tuesday 9-24-2024

Will China and BRICS Nations Destroy the Dollar?

VRIC  Media:  9-23-2024

Welcome to the official VRIC channel. Today, the discussion centers around the increasing momentum toward the de-dollarization of global trade, led by the BRICS nations.

As China, Russia, and other emerging economies strengthen economic ties and finance critical infrastructure projects worldwide, a shift toward a multipolar world is becoming more apparent.

With talks of a gold-backed trade settlement currency on the horizon, the dominance of the U.S. dollar appears increasingly fragile.

The conversation explores the upcoming BRICS summit and speculates on the feasibility of a new currency standard that could redefine global financial power dynamics.

Could we be witnessing the end of dollar hegemony?

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

They Say It’s IMPOSSIBLE For the Dollar to Collapse

Taylor Kenny:  9-24-2024

The truth about your cash's value might shock you. Governments are printing money at will, eroding the wealth you've worked hard to build. Discover why gold and silver are the real stores of value and how to protect your wealth against the ongoing confiscation happening through inflation.

CHAPTERS:

00:00 - The Illusion of Cash Value

00:36 - What the Dollar Lacks

01:16 - Gold: The True Money

01:49 - Government’s Plan for Unlimited Spending

 02:27 - Inflation and Wealth Confiscation

03:46 - Deficit Spending and the Mega-Rich

 04:27 - Protecting Wealth with Gold and Silver

 05:40 - J.P. Morgan’s Warning About True Money

https://www.youtube.com/watch?v=Vr4T6iObf2A

"The FED is Terrified of a Stock Correction" - Mike Maloney & Chris Martenson

9-24-2024

At the Limitless conference, Mike Maloney sits down with Chris Martenson to discuss the real state of the economy and the dangers ahead.

From the Federal Reserve's policies that fuel wealth inequality to the fragility of the markets, they dive deep into why the average person is being left behind while the rich get richer.

Chris shares his insights on why we may already be in a recession, and they both criticize the role of the Federal Reserve in creating economic imbalances.

This eye-opening discussion is a must-watch for anyone who wants to understand how these issues affect not only the economy but also society as a whole.

https://www.youtube.com/watch?v=wu1I6JRFhO0

“Tidbits From TNT” Tuesday 9-24-2024

TNT:

Tishwash:  Removing zeros from the Iraqi dinar is back in the spotlight..Strengthening the currency or just changing its form?

 Talk has returned again about the process of removing zeros from the local Iraqi currency, as the Central Bank of Iraq confirmed that the project to remove zeros from the dinar is subject to continuous review and study.

Countries remove zeros from their currency to revalue their national currency and simplify financial transactions. This is done by removing a specific number of zeros from the nominal value of the currency, making it appear less inflationary and more stable.

The central banks of these countries usually issue a new currency, equal in value to one hundred thousand or one million of the old currency, with the old currency gradually being withdrawn from the markets, after a period in which the two currencies are allowed to be used side by side. The most famous countries that have implemented this process, more than once, successfully were Turkey and the former Yugoslavia.

In his statements, Ali Mohsen Al-Alaq, Governor of the Central Bank of Iraq, considered that the bank responded to global economic challenges such as rising energy and raw material prices by amending some monetary policies in line with the international situation and to enhance confidence in the Iraqi dinar and prevent a sharp decline in its value.

Al-Alaq pointed out that the Central Bank of Iraq increased its holdings of foreign exchange and gold reserves to strengthen the country's financial position and stability, in order to enhance its ability to confront potential economic crises.

Commenting on this, economic researcher Ali Daadoush said in an interview with Al-Mada, “The process of deleting zeros is linked to the Central Bank of Iraq,” indicating that “the issue is not new and was previously discussed about 14 years ago. “

Daadoush pointed out that "the process of deleting prices is psychological, as the commodity worth a thousand dinars will be worth one dinar and remain at the same value."

The economic researcher pointed out that "removing zeros leads to flexible dealing with the local currency and strengthens it, and may lead to increased production and diversification of the economy, and thus enhance the value of the Iraqi dinar."

For his part, economic affairs expert Mustafa Hantoush said in an interview with Al-Mada, “The issue of removing zeros from the Iraqi currency is only arithmetic and keeps the currency at the same value. That is, when you sell a house for 100 million, it will be sold for 100 thousand.”

Hantoush added that "countries resort to deleting zeros when there is an expansion in the value of the printed currency and problems occur in the book value and accounting entries, for the purpose of restoring accounting balances."

The economic researcher went on to say, “Iraq is currently suffering from problems with the exchange rate,” indicating that “the value of printing and replacing the currency costs Iraq time, effort and millions of dollars.”

Hantoush said, “The situation now requires focusing on how to maintain the value of the Iraqi currency against foreign currencies.”

According to the latest data, the Central Bank of Iraq's foreign reserves cover 83.62% of the broad money supply, which covers the cost of importing 15 months, while the global standard rate is 20%, covering 6 months of importing.

Foreign exchange reserves are a tool used by all central banks to maintain the stability of the local currency exchange rate against foreign currencies, as well as to reduce exposure to external crises by maintaining liquidity in foreign currency to absorb shocks in times of crisis.

The Iraqi currency is under great pressure, which has caused its price to decline against the dollar during the past period, including the increase in the Iraqi budget deficit. Two weeks ago, Mazhar Salih, financial advisor to Iraqi Prime Minister Mohammed Shia al-Sudani, said that Iraq will face a budget crisis in 2025 due to the decline in oil prices, the country's main source of revenue. Salih said in an interview with Reuters: “We do not expect major problems in 2024, but we need stricter financial discipline in 2025.” link

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

Tishwaash: Iraq is close to completing its financial transfers electronically.. and the US Treasury reveals its economic growth rate

Prime Minister Mohammed Shia Al-Sudani received yesterday evening, Monday (Baghdad time), US Deputy Secretary of the Treasury Wally Adeyemo, and a number of officials in the Treasury Department.

 According to a statement by the Prime Minister's Office, a copy of which was received by {Euphrates News}, the meeting witnessed "discussing bilateral economic relations between the two countries in various vital sectors, reviewing the government's efforts and plans for economic and financial reform, the move towards diversifying the sources of Iraqi output, enhancing development targets, and practical measures implemented in the field of combating money laundering."

The Prime Minister stressed that the government has made great strides in the financial and banking reform file, and 95% of bank transfers have been completed through the electronic platform, and less than 5% remains to be completed by the end of this year, after which the transition to the correspondent banking system will take place, in accordance with the government’s approach and its commitment to raising the capabilities of Iraqi banks, in line with international standards and meeting the needs of the thriving investment environment in Iraq.  

For his part, Adeyemo praised the progress witnessed by Iraq in the field of economic and banking reforms that were achieved in record time, and the state of economic growth that reached a total of about 6%, which enhances the government's efforts in development, expressing his readiness to cooperate and work within a bilateral partnership that serves the interests of economic development. link

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

Tishwsh: Aramco begins issuing international dollar-denominated sukuk

 Saudi Arabian Oil Company (Saudi Aramco) announced the launch of international dollar-denominated sukuk, starting from today, Tuesday, September 24, 2024, until October 2, 2024.

The minimum subscription is $200,000 and integral multiples of $1,000 in excess of that amount, subject to market conditions.

The nominal value of the offering is $200,000, and the return value and maturity period are determined according to market conditions.

This comes after Saudi Aramco announced its intention to issue international sukuk under the SA Global Sukuk Limited's Trust Certificate Issuance Program.

The company said in a statement on the Saudi Stock Exchange (Tadawul) today, Tuesday, that the sukuk will be denominated in US dollars, and will be direct, priority, unsecured, with a limited right of recourse to the assets, which constitute an obligation on (SA Global Sukuk Limited).

The value of the offering will be determined based on market conditions. The net proceeds will be used for general corporate purposes of Saudi Aramco.

The offering is subject to regulatory approval and will be offered in accordance with Rule 144A/Reg S of the U.S. Securities Act of 1933, as amended.

The FCA and ICMA stability rules will also apply to the offering. An application will be made for the Sukuk to be admitted to the Official List of the FCA and the London Stock Exchange. The Sukuk will also be admitted to trading on the London Stock Exchange.

Saudi Aramco has appointed Al Rajhi Capital, HSBC, First Abu Dhabi Bank, Dubai Islamic Bank PJSC, Standard Chartered Bank, KFH Capital, Goldman Sachs International, J.P. Morgan and Citi as Joint Active Bookrunners to organize a series of fixed income investor meetings commencing on 21 Rabi’ Al-Awwal 1446H (corresponding to 24 September 2024G).

SMBC Nikko, Alinma Investment, Albilad Capital, MUFG, Abu Dhabi Commercial Bank PJSC, POCI Asia Limited, Emirates NBD Capital Limited, Sharjah Islamic Bank, Mizuho and Natixis have been appointed as Joint Bookrunners for the inactive subscribers.

The offering of these international sukuk will be limited to qualified investors in the countries in which the offering will take place, in accordance with the laws and regulations in force in those countries.link

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

Mot: No Matter what! - ole ""Earl"" can't get ahead!! –

Mot.. Just Saying ----I phone costs as much as washer and dryer

“Coffee With MarkZ” Tuesday Morning Chat 9-24-2024

Thank you MarkZ for all your time, and encouragement daily….. PDK

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: Good Morning Everyone!  RV There Yet???

Member: Feeling like something good is about to happen!

Member: So, I have theory on the Dinar RV; Al Sudani ended his UN meetings in NYC yesterday. He gets home, tells his citizens FIRST then announces to the world! So tomorrow seems appropriate for me.

Member: Let’s all pray your theory is right!!

Member: Next week starts our new fiscal year…..could that be what they are waiting for ?

MZ: Good question….sure looks like they are preparing

Member: Seeing that the Fiscal year ends on Sept. 30th could this be the when the reset happens ????

Member: it looks like lots of changes coming Oct 1st due to the new fiscal year….That is next Tuesday or one week from today.

Member: Maybe the reason the budget will not pass and close down the government is to force banks to be Basal 3 and the new fiscal year as a republic with USTN

Member: Oct 1st - all banks must be Basel 3 compliant - think things will shake up in the banking world? Curious to see this impact.

Member: A rumor is the US Corporation goes away on October 1 as well as all out bogus, fiat money

MZ: Overnight last night was quiet on the bond side and Prosperity Package side for me….It’s like the whole world is waiting for an event. The question is “What event”???

MZ: Hopefully the quiet means there are more NDA’s, and I know many are moved into position. I just have not heard what to expect on timing….I hope the quiet is because of how close we are.

Member: So are we waiting for an event or is Iraq far enough along to say “Just do it”???

MZ: I always heard there would be a distraction event….we shall see. But I think they have already started the process and its rolling out. We just don’t know the process enough to gauge the timing. They will keep grinding away at it until its seen at every level. imo

Member: That’s one heck of a slow roll out…..snails in molasses in February are faster than this roll out.

Member: I wonder what are you contacts saying now that it didnt happen in the last few days?

Member: I still think it could be a shotgun start?? Bonds and T4b at same time??

​​Member: For those asking about the dinar: .00076 take three zeros off .76. That makes your currency more valuable.

Member: Has the HCL (Hydro Carbon Law) in Iraq passed yet?

MZ: Not officially announced yet….but we are seeing signs of it in the salaries being paid , money moving and the Kurdish region just sent around $100 billion in non oil revenue and taxes to the Baghdad treasury. Seems to be enormous things happening around the HCL.

Member: Bara and Jentell thinkin tomorrow morning they pull the trigger on the RI…

Member: Did Zimbabwe just get liberated ?! Title deeds to land being given out to humanity, along with trust funds set up for the people

Member: What are the best currencies to have?

MZ: My favorites are IQD, VND, Indonesian Rupiah , Zim …….have you noticed Iraq is meeting with Vietnam, Indonesia and all countries with all the currencies we hold. Interesting.

Member: Still hoping the Venezuelan Bolivar is on that list to go.

Member: , Rumor has it that we are encouraged to register on the QFS website. Is this true or just another ploy to mislead the people?

MZ: It’s a rumor …Don’t fall for it. This is to mislead everyone…..If they want to prove it- I would be happy to be proven wrong.

Member: Many out there trying to prey on desperate people.

Member: When we go in for exchange, how will we receive funds? By card? What info will we have to give to receive funds? Fingerprints?

Member: I am sure we will get cards……hopefully highly secure cards ……I heard high limit cards.

Member: are we getting 800 # from Dinar Recaps or to our personal email from where we exchanged for Dinar?

Member: Probably both…..And from all dinar sites as well……we may get many notifications.

Wishing MarkZ, all the fantastic MODS and Family the best day ever!!!!!

MarkZ New Discord link:  https://discord.com/invite/AxGE6k4pvx

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.

 ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut

THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!

Twitch:   https://www.twitch.tv/theoriginalmarkz

Youtube:     https://www.youtube.com/watch?v=qut9dQzMGKs

News, Rumors and Opinions Tuesday AM 9-24-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Tues. 24 Sept. 2024

Compiled Tues. 24 Sept. 2024 12:01 am EST by Judy Byington

Judy Note: Liquidity for the Global Currency Reset would both activate on Tues. 1 Oct. So I’m thinking, hoping, believing we can count on it actually happening this time.

Global Currency Reset:

“On Tues. 1 Oct. 2024 U****c. Corp. Dissolves – Ends Fiat Monetary System Experiment. Gold/Asset-Backed Quantum Financial System Locked, Loaded & Taking Over.” …on Telegram Sat. 21 Sept. 2024

“The first week in October over the Emergency Broadcast System, the military will (allegedly) reveal all. Also, in the first week of October, we expect to see various countries adopting and rolling out a valid QFS. Military reserves and armies are expected to be activated in the US, Canada, UK, EU, Iceland, South America, Mexico, African regions, Malaysia and over 80 other countries.” … (JFK Jr.) on Telegram Sat. 21 Sept. 2024

Judy Note: Tues. 1 Oct. is the date the new United States of America Restored Republic and Global Currency Reset (allegedly) begin and when the Cabal’s fiscal year ends. Most important, Tues. 1 Oct. is the deadline for banks to be Basel III Compliant (monies backed by gold) or they will be closed. The banks will be taking on a different role as service-only centers.  In other words, after Tues. 1 Oct. the Caball which has been officially bankrupt since 2008, will no longer have access to US Taxpayer dollars.

Mon. 23 Sept. 2024: Bombshell Report! Judy Byington: The Great Awakening Is Upon Us. American, European Banks Collapse. QFS Becomes Fully Operational. Prepare, Patriots… – amg-news.com – American Media Group

~~~~~~~~~~~~~

Global Financial Crisis:

Judy Note on the New York Stock Market: For the last over two weeks the DOW and S&P have had almost the same numbers (Dow 41,6xx; S&P 5,6xx), just changed the background to sometimes red, or sometimes green. You’d think that if they were going to effectively manipulate the Market without people finding out, they would be more creative.

Mon. 23 Sept. 2024: Breaking News: BlackRock Files for Bankruptcy! The Unbelievable Collapse of a Financial Giant – amg-news.com – American Media Group

Mon. 23 Sept. 2024: RV/GCR and EBS Disclosure: The Global Financial Armageddon and the Collapse of Nine Nations – The Impending EBS Disclosure and Market Crash – amg-news.com – American Media Group

Mon. 23 Sept. 2024: Breaking News: BlackRock Files for Bankruptcy! The Unbelievable Collapse of a Financial Giant – amg-news.com – American Media Group

Read full post here:  https://dinarchronicles.com/2024/09/24/restored-republic-via-a-gcr-update-as-of-september-24-2024/

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

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

Militia Man   The '23, '24, '25 tripartite budget for investment they haven't exposed it yet...Why not?  Probably because it has an exchange rate sensitivity to it.
9-23-2024  

Jeff  Iraq has been secretly amending the budget in the background preparing for this budget period and getting the budget done.  After they approved it June 3rd it was never really completed or published in the Gazette.  They've been secretly amending it since that point forward...This investment has gotten real.

Frank26   [Iraq boots-on-the-ground report]   FIREFLY: Television is telling us if we make cash payments on bills we will be charged an extra 5%.  If we use our cards to make payments we will not be charged 5% extra.  Isn't that the opposite of normal ways of doing it?  FRANK:  That is correct...You're going international.  You have to use your cards.  If you use cash you'll be punished.  Use your cards...

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

Buy Gold, Dump Dollars: US Billionaires Plan for the WORST as More Fed Cuts Loom

Daniela Cambone:  9-23-2024

"The Fed will be forced to pivot, and when they do, it's going to send gold soaring even higher,” says Brien Lundin, editor of Gold Newsletter and CEO of the New Orleans Investment Conference.

Speaking with Daniela Cambone, Lundin explained that the Fed is cornered, with no choice but to cut rates to support the weakening economy.

He emphasized that these expected rate cuts will continue to weaken the U.S. dollar, further enhancing gold’s appeal as a safe-haven asset.

CHAPTERS:

 00:00 The Gold Rally: A Stealth Bull Market?

 03:01 Impact of the Fed on Gold Prices

6:16 Gold as a Hedge Against Inflation

08:13 The Future of Gold Prices

10:59 The Fed's Role and Economic Concerns

12:26 Political Implications for Gold Investors

 16:29 The New Orleans Investment Conference

https://www.youtube.com/watch?v=pjCa9bXa_yk

Ancient Connections Egypt Babylon Iraq Iran and the IQD Importance

Edu Matrix:  9-24-2024

Documentary Title: Ancient Connections: Egypt, Babylon, Iraq, Iran, and the IQD - This documentary delves deep into the historical, religious, and cultural connections between Egypt, Babylon, Iraq, and Iran, tracing how these ancient civilizations have shaped the modern geopolitical and spiritual landscapes of the Middle East.

It begins by exploring the rich histories of Egypt and Babylon—two of human history's most influential and ancient civilizations—while highlighting their enduring legacies in Iraq and Iran today.

The film sheds light on the complex civil unrest within the Islamic religion, analyzing the divisions, conflicts, and ideological struggles that have persisted over centuries and still influence the region's political dynamics. The documentary also takes a comparative approach by examining how Christianity fits into this intricate web of religious beliefs, identifying the similarities and stark differences between Christianity, Islam, and Judaism, which is older than either Christianity or Islam.

https://www.youtube.com/watch?v=nUTGkRZ2ON0

Iraqi Dinar News-IRAQ-INTERNATIONALISM NY-2023 to 2029 Road Map - Social- Financial Sustainability

Iraqi Dinar News-IRAQ-INTERNATIONALISM NY-2023 to 2029 Road Map - Social- Financial Sustainability

MilitiaMan and Crew:  9-23-2024

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=50gCtrRGwak

How Much Inheritance Will Ruin Your Kid?

How Much Inheritance Will Ruin Your Kid?

How generational wealth impacts productivity and happiness

Sean Kernan

When my family lived near the Cavalier Country Club in Virginia Beach, we were the token middle-class family in the neighborhood. Many of the houses had hedged bushes, carefully carved into eccentric geometric shapes, and sports cars sitting unashamed in their driveway, announcing their owner’s achievements to all.

And despite this clear class divide, I got along great with the boys around me. Some were only 10, but had fathers that were entirely grey haired, and mothers who looked barely out of high school. I noticed the peculiarity of it but never connected the dots on what these unions meant.

Some of these boys were well-adjusted and great. Others were quite spoiled, and I often wonder what came of them. They were agitated and disobedient in school, often getting into fights on the playground.

Had wealth bestowed a sense of privilege upon them? Did they already feel exempt from the rules and any acts of discipline?

Per the Global Health Report for 2023, the United States has 22.7 million millionaires (38.2% of the global total, with China in second at 10.2%). Many of these people are well past one million and cruising into eight and nine figures of net worth. And it leaves us with an interesting predicament: Many scions of vast fortunes are quite young.

And while this might not be a problem many of you sympathize with, it should nevertheless invoke thought about how your worldly assets should be addressed with your children, or the lack thereof.

How should we think about our inheritance?

Lynn Chen-Zhang’s 8-year-old son came home from school one day and said a student asked him, “Why do you study so hard?”

Classmates were saying his parents were rich, so there was no need to work so hard. Her son was on to something. Their father, Charles Chen-Zhang, owns one of the largest financial advisory firms in the country and was already a known philanthropist.

Realizing these questions were continuing, as classmates knew of their family (mainly through gossiping parents), the Chen-Zhangs decided to sit their children down and have the money talk.

They told their two boys, “We’ll support you both in getting as much education as you’d like, but from then on, you are on your own.” Which translated to zero inheritance.

Whether this was a scare tactic or a true threat, they worked. Both sons are now thriving in their finance careers, independent of their father’s company.

This trend is common. I spoke with a peer, Matthew, who is 49 and runs a successful medium-sized business which he just sold for a substantial sum. He told me, “My children don’t even know how much money I just made. Nor do I intend to let them know.” Of note, he lives a humble life and does not flash his wealth by any means.

But most parents don’t face this severe of a dilemma. The average inheritance in the US is “only” $46,200 per census data, with 85% of inheritances being below $250,000. Which isn’t nothing.

The game changes with the ultra-wealthy

TO READ MORE:  https://www.yahoo.com/lifestyle/story/how-much-inheritance-will-ruin-your-kid-003747274.html

Seeds of Wisdom RV and Economic Updates Tuesday Morning 9-24-24

Good Morning Dinar Recaps,

RIPPLE VS SEC: JOHN DEATON BRINGS SEC MISCONDUCT TO LIGHT – XRP NEWS

▪️Pro-crypto attorney John Deaton has slammed the US SEC over the Ripple lawsuit.

▪️Deaton demanded damages for the XRP community and called for mass layoffs.

Pro-crypto attorney John Deaton has shed more light on the recently concluded case between the US Securities and Exchange Commission (SEC) and Ripple Labs Inc. According to the latest development, Deaton has accused SEC lawyers of intentional misconduct.

John Deaton Accuses SEC of Misconduct
In a recent YouTube interview, Deaton said the SEC exhibited serious misconduct by claiming that XRP is a security. This take comes as the US SEC recently apologized for the confusion caused by using the term “crypto asset securities.”

However, Deaton says the Ripple vs SEC case wasted money, capital, and energy. He said XRP immediately lost $15 billion, and people were liquidated when the markets regulator initiated the lawsuit.

“You shouldn’t be liquidated because of government overreach because the government and these unelected bureaucrats are doing what they are doing,” says Deaton.

According to him, Ripple spent over $100 million on defense. Deaton stated that he and XRP community members demanded that the SEC remove the “XRP is a security” language to resolve the case. He claims the SEC refused and even attacked him.

As a result, he said the SEC’s apology cannot be accepted and claims the lawsuit was intentional misconduct by its lawyers.

“People should be fired, they should lose their jobs if they were in the decision-making process,” Deaton stated.

He added that Ripple and the XRP community deserve compensation for the extensive litigation and expense over the SEC misconduct. Before the interview, Deaton wrote in an X post that the SEC’s crypto overreach has cost retail investors $15 billion. Deaton’s comments resonated with many XRP investors, even beyond the community, fueling ongoing discussions.

Is an Appeal Imminent?
His comments come as discussion grows over whether the SEC will appeal the Ripple decision. As mentioned in our earlier post, former SEC attorneys Marc Fagel and James Farrell are confident that the SEC will file an appeal. Attorney Fred Rispoli added that the SEC is still undecided and may wait until the last minute to make an appeal announcement.

However, Ripple’s Chief Legal Officer Stuart Alderoty confirmed that Ripple does not intend to appeal. He said Ripple had obtained a stay order on a $125 million penalty pending further proceedings.

Meanwhile, investor caution and market volatility could continue to impact XRP negatively if the case drags on. At press time, XRP is trading at $0.5883, down by 0.71% in the past 24 hours. The 24-hour trading volume decreased by 15.5% to $938 million, indicating reduced investor interest.

Despite current challenges, analysts predict a positive breakthrough for XRP as Ripple prepares for the Ripple Swell 2024 event. Another development that could push XRP higher is Ripple’s participation in Project Agora. As CNF noted earlier, this project, led by the Bank of International Settlements (BIS), will help boost Ripple’s global influence.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

SEC CHAIR GARY GENSLER ADDRESSES CONGRESS ON CRYPTOCURRENCY REGULATION

▪️Gary Gensler will testify before Congress regarding SEC's cryptocurrency policies.

▪️His leadership faces scrutiny from both parties amid upcoming elections.

▪️The SEC's stance on crypto continues to draw significant criticism.

On Thursday at 18:40, Gary Gensler, the Chair of the U.S. Securities and Exchange Commission (SEC), will testify before Congress. The cryptocurrency market is focused on Gensler’s upcoming statements and his aggressive stance on altcoins, as the SEC faces increasing scrutiny.

Gensler to Speak Before Committees
On September 24 and 25, Gensler will appear before the Financial Services Committee and the U.S. Senate Banking Committee. His leadership has been under intense review from both partisan and political perspectives, making his statements highly anticipated. Republican committee members have criticized the SEC’s negative stance on cryptocurrencies for years, which has highlighted the Democrats’ anti-crypto position.

As the upcoming presidential elections approach, it is expected that lawmakers will press Gensler on cryptocurrency regulations and the handling of fraud cases such as FTX and Terra. Meanwhile, Coinbase‘s legal counsel received significant backlash for criticizing the SEC’s claims about “crypto asset securities.”

Gensler’s Supporters Decline
Ron Hammond, Director of Government Relations at the Blockchain Association, states that Gensler will face tough questions from both parties. Hammond noted that this session will differ from previous ones.

“Gensler has fewer allies this time; many are dissatisfied with the agency’s recent crypto approach.” – Ron Hammond

This marks the first time Gensler will testify alongside other SEC Commissioners, adding to the significance of the sessions. 

While Democratic leaders are expected to defend their policies, Republicans may question the agency’s direction, potentially aiding their electoral efforts by appealing to cryptocurrency investors.

Under Gensler’s leadership, the SEC continues to face heavy criticism from the crypto community and lawmakers. Recent examples include sharp critiques from House Majority Leader Tom Emmer and Financial Services Committee Chairman Patrick McHenry regarding the SEC’s classification of crypto airdrops as securities.

The timing of Gensler’s testimony adds fuel to the debate, as he has faced frequent criticism from courts and Congress over the SEC’s aggressive enforcement tactics. Additionally, former President Donald Trump has stated that he would remove Gensler if he wins the upcoming elections.

Gensler’s testimony in Congress could hold critical importance for cryptocurrency regulations and the SEC’s future policies. Market participants and investors are closely monitoring the outcomes of these sessions.

@ Newshounds News™

Source:  Coin-Turk

~~~~~~~~~

TALIBAN INVITE TO BRIC? WHAT?  |  Youtube

@ Newshounds News™

Source: Seeds of Wisdom Team Currency Facts   

~~~~~~~~~

Jim Rickards: This is MONUMENTAL! Nobody is PREPARED for What's Coming  |  Youtube

@ Newshounds News™

~~~~~~~~~

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 Economy News and Points To Ponder Monday Evening 9-23-24

The Ministry Of Oil Announces Achieving Self-Sufficiency In Gas Oil And Kerosene

Monday 23 September 2024 20:22 | Economic Number of readings: 188

Baghdad / NINA / The Ministry of Oil announced today, Monday, achieving self-sufficiency in gas oil and kerosene. The Undersecretary of the Ministry of Oil for Refining Affairs, Hamid Younis, said in a statement:

 "The ministry is keen to achieve self-sufficiency in petroleum products of all kinds in support of the national economy," stressing that "this comes in implementation of the decisions of the government program, and the directives of the Deputy Prime Minister for Energy Affairs and Minister of Oil."

He added, "The ministry has achieved self-sufficiency in the production of gas oil (kerosene) and kerosene, and stopped importing them.

The ministry was also able to reduce the quantities of imported gasoline to low levels, compared to the quantities that were being imported, and thus the amounts of money that were spent on import were reduced."

He explained that "the ministry is working to achieve self-sufficiency in gasoline production through the projects being implemented in the refining sector, which will be completed in the coming months."

He pointed out that "the achievements in the field of increasing production capacities in the refining and refining sector were achieved through the implementation of projects within a short period," noting that "the ministry is determined to increase the capacities of petroleum products to support and develop the economy." https://ninanews.com/Website/News/Details?key=1156864

Oil Prices Rise Slightly

Economy  | 07:46 - 09/23/2024  Mawazine News – Baghdad   Oil prices rose slightly in early trade on Monday, supported by concerns that conflict in the Middle East could hit supplies from a key producing region and expectations that last week's U.S. interest rate cut will support demand.

Brent crude futures for November delivery were up 20 cents, or 0.3 percent, at $74.69 a barrel by 0045 GMT. U.S. West Texas Intermediate (WTI) crude futures for November delivery rose 22 cents, or 0.3 percent, to $71.22.

Both benchmarks had risen in the previous session, supported by lower U.S. interest rates and lower U.S. supplies in the wake of Hurricane Frances. On Wednesday, the Federal Reserve cut interest rates by half a percentage point, a bigger drop in borrowing costs than many had expected.

Rate cuts typically boost economic activity and energy demand, but analysts and market participants are concerned that the central bank could see a slowdown in the labor market. https://www.mawazin.net/Details.aspx?jimare=255275

Central Bank Sells Over $254 Million In Auction Today

Banks  Economy News – Baghdad  The Central Bank of Iraq announced today, Monday, its sales of hard currency, which amounted to more than $254 million in today's transactions, according to the official price of 1310.

The bank's data showed that the total internal cash withdrawals amounted to $12,250,000, while the total amounts of transfers abroad, including remittances and credits, amounted to $242,320,185, while the total sales amounted to $254,570,185. https://economy-news.net/content.php?id=47913

International Praise For The Central Bank Of Iraq: A Model For Developing Strategies That Serve The Development Of The Banking Sector

Banks   Economy News – Baghdad  The Regional Director for the Kingdom of Saudi Arabia, Lebanon and Iraq at the International Finance Corporation (IFC), Fawaz Al-Balbeisi, confirmed today, Monday, that Iraq is one of the first countries to adopt a comprehensive approach to governance and environmental and social accountability, noting that the Central Bank of Iraq is a model for developing strategies that serve the development of the banking sector.

Al-Balbeisi said in a speech during the launch ceremony of the Financial Sustainability Map Project and the Environmental, Social and Corporate Governance Guide for Banks, that “Iraq has provided humanity with justice and law, and it is not surprising that it is one of the first countries to adopt a comprehensive approach to environmental and social governance and accountability,”

 indicating that “this new achievement comes as a result of the strategic partnership between the International Finance Corporation and the Central Bank of Iraq in cooperation with the Kingdom of the Netherlands and our joint efforts to develop an advanced Iraqi banking sector that contributes to Iraq’s sustainable future.”

He added that “the achievements that we celebrate today are a very important step for the Iraqi banking sector towards establishing sound practices of environmental, social and corporate governance standards that are consistent with international standards and rules, where they are not just a reference framework for celebration, but rather a systematic approach achieved by the banking sector,”

noting that “environmental and governance standards have changed the environment and governance of the institution, and are a standard for professional excellence and have become a basic requirement for managing and reducing risks and thus financial sustainability and business prosperity.”

He continued: "Today, this event gains great importance in light of Iraq's confrontation with the challenges led by climate change, which requires approximately $233 billion until 2040 to respond to the development gaps necessary to move towards sustainable economic paths."

He continued, "Environmental, social and corporate governance responsibility is not only a statement of transparency, accountability and fairness, but also essential components of responsible investment strategies committed to sustainable practices and ethical standards in all financing and investment decisions.

The Iraqi banking sector represents the provision of the necessary financing to meet its nationally defined goals in Iraq, and all of this highlights the importance of the role of the Central Bank, led by Ali Al-Alaq, in achieving this goal."

He pointed out that "with the development of the banking, financial and operational sector's capabilities over the past years, this achievement is complementary to other initiatives led by the Central Bank, the latest of which was the launch of the national strategy last May."

He pointed out that "the Central Bank is a model in developing strategies that serve the development of the banking sector in a way that reflects positively on the external view of the banking system and makes it a tributary that enhances sustainable development in Iraq," expressing his "thanks to the government of the Kingdom of the Netherlands for their support in reaching this achievement and to the Central Bank team and the International Finance Corporation whose tireless work enabled us to reach this achievement."  https://economy-news.net/content.php?id=47912

Iraq Announces Roadmap For Financial Sustainability Of Banking Sector

Economy  | 09/23/2024   Mawazine News – Baghdad  The Governor of the Central Bank, Ali Al-Alaq, announced today, Monday, a roadmap for the financial sustainability of the Iraqi banking sector, while indicating that this map is part of the efforts to upgrade the banking sector.

Al-Alaq said in a speech during the launch ceremony of the Financial Sustainability Map Project and the Environmental, Social and Governance Standards Guide for Banks:

“Today, we are addressing an important and fundamental aspect in developing the banking sector in Iraq, as the term environmental, social and governance standards has witnessed turbulent growth since its first launch in 2005,”

indicating that “the environmental aspects and the response related to climate change are major factors driving the development of environmental, social and governance standards, in addition to the growing importance of other basic elements, especially social ones.”

He added, “If these standards are important for any economic entity or company, regardless of its activity, mission and products, then their importance to the financial sector is a matter of utmost importance, given the significant impact that social and environmental changes have on the reality of this sector and what is required to manage it according to regulatory, supervisory and technical rules that avert risks to ensure the rights of shareholders and stakeholders within a framework of transparency and disclosure,

and above all, contribute to achieving financial stability, the repercussions of crises are reflected in the economic and social environment and general stability, just as the environmental and social repercussions are reflected in stability.”

 He stated, “We are pleased to announce a roadmap for financial sustainability.”

For the banking sector in Iraq for the years 2023 to 2029 and social and institutional standards," noting that "this project is part of the ongoing efforts made by the Central Bank of Iraq to advance the banking sector based on international best practices as well as keeping pace with developments in the banking industry." He stated that "with this announcement, the Central Bank of Iraq is the first in the region to implement this guide."

 Al-Alaq praised "the role played by international experts in the International Finance Corporation, affiliated with the World Bank Group, and their effective contribution in preparing the roadmap for financial sustainability for the banking sector in Iraq," appreciating "the effective and ongoing partnership and fruitful cooperation with the institution."

He thanked "the fruitful and distinguished efforts of the Central Bank's work team as well as the support provided by the Kingdom of the Netherlands in this framework to push towards helping Iraq implement these important and necessary programs."   https://www.mawazin.net/Details.aspx?jimare=255289

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

Seeds of Wisdom RV and Economic Updates Monday Evening 9-23-24

Good Evening Dinar Recaps,

TURKEY TENDS TO VIEW BRICS AS A POLITICAL TRUMP CARD AGAINST THE WEST — EXPERT

Turkish economist Bartu Soral noted that when looking at "the global distribution of power, it is clear that huge changes have occurred since the early 2000s"

ANKARA, September 23. /TASS/. Turkey's interest in BRICS has economic considerations, but purely political motives are also strong, Bartu Soral, one of the country’s leading economists, said in an interview with TASS.

"The decline of the West's dominance in the international system brings BRICS to a leading position in production and export. In this context, Turkey values its relations with the Turkic countries and with Russia, which is active in the region. There are many points of contact here.

Nevertheless, I think that the interest in BRICS declared by the Turkish government is an attempt to gain a trump card against the West and has political motives," he believes.

The expert noted that when looking at "the global distribution of power, it is clear that huge changes have occurred since the early 2000s. The G7 countries used to dominate, while today, for example, the EU and Japan have lost power."

"On the contrary, the BRICS countries are leaders in global exports and production. China has acquired significant production and technological power, including thanks to its excellent education system. Russia is strong in the defense industry. Brazil ranks second in the world in food exports. The Anglo-Saxons, who dominated in the 1990s, are losing ground," Soral noted.

Touching upon Turkey's political motives, the economist noted that BRICS is an economic association that needs to be approached in this spirit.

"We need a national program, a roadmap for interaction with BRICS, a production program in various industries in the context of the BRICS economy. Personally, I do not see such plans from the government and I think that Turkey's application does not have a serious economic basis," the economist believes.

Earlier, Turkish Foreign Minister Hakan Fidan said that Ankara was assessing its participation in BRICS from the point of view of economic cooperation opportunities, but said that "the association itself is currently searching for an identity, options for institutionalization" and therefore it is difficult to say to what point the republic's interaction with BRICS may reach.

 Nevertheless, Fidan noted that "if Turkey's integration with the EU had ended with full membership in the union, then perhaps Turkey would not be looking for other options on many issues.".

@ Newshounds News™

Source:  TASS

~~~~~~~~~

QATAR LAUNCHES DIGITAL ASSETS LAB

Last week the Qatar Financial Centre (QFC) unveiled the first participants in its Digital Assets Lab, “powered” by the Qatar Central Bank. The QFC avoided using the term sandbox, although the Lab’s aims sound similar, but broader. 

The goal is to encourage innovation and development in the distributed ledger technology (DLT) space. Plus, it provides regulatory support and is one of the pathways for landing a license to operate in Qatar.

It follows the recent launch of Qatar’s Digital Asset Regulations at the start of the month.

The creation of the Lab involved partnering with Google Cloud, local bank Masraf Al Rayan, The Hashgraph Association (THA) and enterprise blockchan firm R3.

“As the base product for the QFC ecosystem, R3’s Corda will power tokenization projects across Qatar’s financial industry, supporting the issuance, transfer, and redemption of digital assets,” said R3’s CEO David E Rutter.

However, some applications are likely to be deploy on the public Hedera DLT. In May the affiliated Hashgraph Association (THA) announced a $50 million Digital Assets Venture Studio in Qatar which is part of the Lab.

THA is planning to work in five areas:

▪️Equity Tokenization
▪️Sukuk (Islamic Bonds) Tokenization
▪️Real Estate Tokeniszation
▪️Sustainability/ESG – Carbon Credits
▪️Consumer engagement and loyalty programs

The Middle East is becoming a hotbed for tokenization, with multiple regulatory enclaves within the UAE alone, never mind Saudi, Qatar and elsewhere. Qatar’s banking sector is already internationally diversified, with around 30% of deposits from foreigners.

The Qatar Central Bank, which is involved in the Digital Assets Lab, completed its central bank digital currency infrastructure in June.

Digital Assets Lab participants
The Digital Assets Lab isn’t purely for new startups. We’ve regularly covered several of the participants, including Partior, Polygon, Settlemint, Taurus and Citi-backed xalts.

The full list of initial participants are: AISCIA, ALT DRX, arca-x, AssetShare, Audtye, Blade Labs, BlockStead, DMZ, evergon, Finrock, Falcon Nest Labs, itoo technologies, mintus, oori, Partior, Polygon, PropTech, ScieNFT, SettleMint, SidraChain, Skargard, Taurus, xalts, and Verity.

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

Telegram may hand over user data of rule violators to authorities

The Telegram team has removed all problematic content from there in recent weeks, Pavel Durov said, without giving any details

MOSCOW, September 23. /TASS/. Telegram co-founder Pavel Durov said that the messenger can disclose user IP addresses and phone numbers in response to legitimate requests from the relevant authorities. He clarified that this measure concerns violators of Telegram rules and is being introduced to deter criminals from abusing the messenger's internal search function.

"We have clarified that the IP addresses and phone numbers of those who violate our rules can be disclosed to the relevant authorities in response to justified legal requests," Durov said, specifying that Telegram has updated its terms of service and privacy policy, bringing them to uniformity worldwide.

As Durov explained, some users were abusing Telegram’s search function to sell illegal goods. The Telegram team has removed all problematic content from there in recent weeks, he said, without giving any details.

"Over the past few weeks, a special team of moderators has used artificial intelligence to make the Telegram search much safer. All problematic content that we identified in search is no longer available," Durov said. He also called on users to report illegal content.

@ Newshounds News™

Source: TASS

  ~~~~~~~~~

Who Are These Mysterious People? Discover The Power Of Discernment  |  Youtube

@ Newshounds News™

Source: Seeds of Wisdom Team Currency Facts 

~~~~~~~~~

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

Thoughts From DJ “Gold” 9-23-2024

DJ: DID YOU KNOW?

The statutory value of gold refers to the price or value of gold as established or fixed by law or government regulation, rather than being determined by market forces like supply and demand.

 Historically, statutory values of gold were set by governments to define the exchange rate of gold with their national currency, often in the context of the gold standard, where currencies were pegged to a specific amount of gold.

This fixed legal value contrasts with the market value of gold, which fluctuates based on trading in the global gold markets. Today, most countries no longer have a statutory value for gold since currencies are not tied to gold, but the concept remains relevant in legal contexts, such as central banks’ gold reserves and specific fiscal policies.

In the context of the U.S. gold reserves, the statutory value of gold is a fixed price set by law, which is significantly lower than the current market value of gold. The U.S. Treasury still maintains this statutory value for accounting purposes, despite the fact that the U.S. dollar is no longer backed by gold (since the U.S. abandoned the gold standard in 1971).

Application to U.S. Gold Reserves:

• Statutory Value: The official statutory price of gold in the U.S. is set at $42.22 per troy ounce under the Gold Reserve Act of 1934. This price is used by the U.S. Treasury for accounting and reporting purposes when valuing the gold held in the U.S. Treasury’s reserves. This figure has remained unchanged since 1973, even though the market price of gold has risen significantly.

• U.S. Gold Reserves: The U.S. holds a substantial amount of gold (over 8,100 metric tons) in its reserves, primarily stored in locations like Fort Knox and the Federal Reserve Bank of New York. The value of this gold is reported using the statutory price of $42.22 per ounce, which leads to an official accounting value of U.S. gold reserves that is far below its actual market worth.

• Difference from Market Value: The market price of gold is determined by global trading on commodities exchanges and typically fluctuates based on supply and demand. As of 2024, the market price of gold is around $2,500 to $2,600 per ounce, much higher than the statutory price. This means that while the gold reserves are valued at billions of dollars under the statutory rate, their true market value is in the hundreds of billions of dollars.

• Purpose: The statutory value is a historical relic from when the U.S. dollar was backed by gold, and it now serves primarily for internal accounting within the U.S. Treasury. It simplifies the bookkeeping of the government’s gold holdings but does not reflect the actual economic value of those reserves. While the statutory value of U.S. gold reserves is used for government reporting, it vastly underestimates their real market value.

Title of U.S. Gold Reserves:

• The title to the gold in U.S. reserves is held by the U.S. Department of the Treasury, specifically under the legal jurisdiction of the U.S. government. This gold is primarily stored in places like Fort Knox, the U.S. Mint at West Point, and the Federal Reserve Bank of New York. The gold reserves are part of the national assets, managed and accounted for by the Treasury, but owned by the U.S. federal government on behalf of the public.

What Would Happen if the Statutory Value Was Changed to $500 per Ounce:

• If the statutory value of gold were changed from the current $42.22 per ounce to $500 per ounce, several significant financial and accounting impacts would occur:

1. Increase in the Official Valuation of U.S. Gold Reserves:

• The U.S. Treasury currently holds over 261 million troy ounces of gold.

• At the statutory value of $42.22 per ounce, these gold reserves are valued at approximately $11 billion.

• If the statutory value was raised to $500 per ounce, the official accounting value of these reserves would increase to about $130.5 billion (261 million oz × $500).

1. Impact on the U.S. Federal Balance Sheet:

• This change would boost the official assets of the U.S. government by reflecting a closer (though still undervalued) estimate of the gold’s worth. It would improve the appearance of the U.S. Treasury’s balance sheet, reducing the ratio of debt to assets, which might affect perceptions of U.S. fiscal health.

• However, since this is an accounting change rather than an actual sale or use of the gold, it wouldn’t directly affect the national debt or reduce federal deficits.

1. No Immediate Effect on the U.S. Dollar or Monetary Policy:

• Since the U.S. no longer operates under the gold standard, the statutory value of gold is primarily an accounting mechanism. A change in this value wouldn’t directly affect the dollar’s value or the Federal Reserve’s monetary policy.

• The market price of gold would still be far higher than the new statutory value ($500 per ounce is still below the current market price of ~$2,600 per ounce). The dollar remains a fiat currency, meaning its value is not tied to gold reserves.

1. Potential Legal or Political Implications:

• Increasing the statutory value of gold could spark political debate, especially regarding government transparency and the actual economic utility of the gold reserves.

• There may also be calls to further increase the statutory value to align it more closely with the actual market value, though doing so could have broader economic and financial consequences.

1. Impact on Gold-Backed Securities or International Confidence:

• An increase in the statutory value might suggest to some observers that the U.S. is acknowledging the potential for gold to play a larger role in its balance sheet. However, unless there’s a broader shift toward gold-backed currency (which is unlikely under orycurrent economic systems), the change would remain symbolic and largely administrative.

Changing the statutory value of gold to $500 per ounce would increase the U.S. Treasury’s reported assets significantly, but it wouldn’t directly affect the economy, the dollar’s value, or debt levels. The gold reserves would remain an underutilized asset held by the U.S. government unless furthermost.

DJ

https://dinarchronicles.com/2024/09/23/the-office-of-poofness-weekly-report-update-from-poof-and-dj-9-22-24/

More News, Rumors and Opinions Monday PM 9-23-2024

TNT:

Tishwash:  Iraq Plans Currency Redenomination Amid Economic Challenges

The Central Bank of Iraq (CBI) has announced that discussions regarding the project to remove zeros from the Iraqi dinar are ongoing, with assessments continuing. The bank also noted a reduction in reliance on the US dollar for trade transactions.

Ali Mohsen al-Alaq, Governor of Iraq's Central Bank, stated that the bank is facing global economic challenges, such as rising energy and raw material prices.

To address these issues, it has amended some monetary policies in line with the international situation, aiming to increase confidence in the Iraqi dinar and prevent a significant decline in its value.

The central bank has also increased its holdings of foreign currency and gold reserves to enhance the country's financial stability and its ability to cope with economic crises in any situation, he added.

Many countries remove zeros from their currencies to revalue the national currency and facilitate financial transactions. This process involves eliminating a certain number of zeros from the nominal value of the currency, making it less inflationary and more stable.

Earlier this year, the Iraqi federal government decided to postpone a plan to remove three zeros from the nominal value of its currency notes, citing that the current economic climate is not suitable.

Last year, the central bank indicated plans to redenominate the Iraqi dinar to simplify financial transactions in an economy that remains heavily centralized and oil-dominated, where deals are often conducted in cash.  link

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

Tishwash:  Nokia signs contract with Zain Iraq to improve the company’s network in the southern governorates

 Nokia has announced a 3-year deal with Zain Iraq to upgrade the company’s network in the southern region by applying the latest microwave technologies, including E-band solutions, which will help increase network capacity. The deal includes replacing competitors’ equipment and providing versions that provide the highest transmission power in the market. Nokia considered this partnership to be its first entry into the microwave field with Zain Iraq.

The three-year deal represents Nokia’s first foray into microwave with Zain Iraq, boosting network capacity and upgrading infrastructure to support future growth and increased traffic demand.

The deployment will begin immediately, with a focus on improving network performance and ensuring scalability to accommodate future growth. Nokia’s solutions will help Zain Iraq expand network capacity and improve customer experience while paving the way for future innovations in the region.

Zain Iraq is experiencing increasing demand for its data services and expansion is essential to provide the best service to its customers. Nokia will apply the latest microwave technologies, including the latest E-band solutions, to upgrade Zain Iraq’s microwave backbone. This upgrade will increase network capacity and prepare it for the expected increase in data due to higher customer usage.

The deal includes the replacement of competitor equipment and the introduction of Nokia’s high-capacity microwave solutions. A key component of this deployment is the UBT-T XP, which offers the highest transmit power on the market. This technology reduces antenna sizes and tower loads, saving significant capital and operational costs.

“This deal underscores our strong local capabilities and expertise. By deploying our advanced microwave solutions, Zain Iraq will benefit from an enhanced network that is ready to handle the demands of the future, including meeting the needs of its growing customer base,” said Mikko Lavanti, Senior Vice President, Mobile Networks, Nokia Middle East and Africa.

“Our partnership with Nokia enables us to overcome capacity constraints and modernize our network infrastructure. With Nokia’s advanced microwave technology and E-band solutions, we are not only solving current challenges, but also securing our network for future growth,” said Emre Gurkan, CEO of Zain Iraq. link

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

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

Frank26  [Iraq boots-on-the-ground report]   FIREFLY:
Mr Sammy says they are way ahead of what they are telling us but they can't tell you everything.  It's all for safety of our country...markets... speculators...  FRANK:  There are many things happening right now that are extremely good for our investment.  It may seem like it's so far away but it's actually right in front of us.  It's not a mirage and you are already touching it.

Mnt Goat   Here is the process of the reinstatement...:  Institute the reforms the “Pillars of Financial Reform” – Banking, Insurance, Stock Market;  Get rid of the parallel market and demand for the dollar through the black market;  Realize the Central Bank “official” rate of the dinar and overcome the dollar crisis.;   Be able to raise the “official” rate of the dinar against to dollar to a sustainable, realistic rate that reflects the true economy of Iraq (just over a dollar in-country); Conduct the Project to Delete the Zeros: decrease the monetary mass by collecting these large three zero notes,stashes/hoards of dinars and dollars. Swap out the currency;  Watch/monitor for inflationary pressures on the process;  Reinstate the IQD back to the global currency exchanges ie. FOREX.  Not just a placeholder on FOREX pointing to ISX but the ability of tradable buy and sell options.

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

(Alert!) THE WORLD ECONOMY IS IN COLLAPSE! WAR IS EXPANDING... STOCK MARKETS TO GO HIGHER!

Greg Mannarino: 9-23-2024

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

As Saudi Arabia Sells USD For Gold, US Spends Record $1.2 Trillion On Debt Interest Payments

Sean Foo:  9-23-2024

Saudi Arabia is buying gold, in fact, they could have accumulated over 150 tonnes since 2022. This is devastating for the Petrodollar and it shows trust in Treasury bonds is collapsing.

And it's not a surprise when you realize interest payments on the US debt itself hit a record $1.2 Trillion dollars!

Timestamps & Chapters:

0:00 Saudi Dumps Dollars For Gold

2:29 Saudi & China Drives De-Dollarization

5:23 Massive $1.2 Trillion Interest Payments

7:46 Sponsor: Indigo Precious Metals

9:11 Yellen Denies Urgent Debt Crisis

https://www.youtube.com/watch?v=A_-HVooq2bU

Seeds of Wisdom RV and Economic Updates Monday Afternoon 9-23-24

Good Afternoon Dinar Recaps,

HONG KONG MONETARY REGULATOR LAUNCHES SECOND PHASE OF CBDC PROJECT

The HKMA has engaged 11 firms for advanced e-HKD+ digital currency trials, so far.

The Hong Kong Monetary Authority (HKMA) has announced the launch of the second phase of its central bank digital currency (CBDC) pilot program, known as e-HKD, according to a Sept. 23 statement.

The second phase will delve into advanced use cases for digital money, emphasizing e-HKD and tokenized deposits for individuals and businesses. The first phase focused on testing CBDC applications in domestic retail payments, offline transactions, and the settlement of tokenized assets.

The HKMA stated that the initiative has evolved from its original e-HKD focus and is now rebranded as Project e-HKD+ to align with the changing fintech landscape.

e-HKD Applications
The HKMA has engaged 11 firms from various sectors to investigate e-HKD applications in three main areas, including tokenized asset settlement, programmability, and offline payments.

Some of the participants reportedly involved in phase 2 include ANZ, Airstar Bank, Aptos Labs, BlackRock, Bank of Communications (Hong Kong), ChinaAMC, China Mobile, DBS, Fidelity International, Kasikornbank, and Sanfield.

The HKMA stated that these firms will evaluate the commercial viability of new digital money forms within real-world settings, aiming to enhance accessibility for individuals and corporations.

The results of Phase 2 will provide insights into the practical challenges of creating a digital money ecosystem that integrates both publicly and privately issued digital currencies. Project e-HKD+ will further develop the necessary technology and legal framework to support potential future issuance of e-HKD for both individuals and businesses.

To foster collaboration, the HKMA will establish the e-HKD Industry Forum. This platform will enable participating institutions to discuss common challenges and explore the scalable implementation of new digital money forms. Industry-led working groups will address specific topics, initially focusing on programmability.

Similar to Phase 1, an e-HKD sandbox will be available for pilot participants to facilitate prototyping, development, and testing of use cases. During Phase 2, the HKMA will collaborate closely with the selected firms over the next 12 months to share key findings with the public by the end of next year.

HKMA chief executive Eddie Yue stated:

“Project e-HKD+ signifies the HKMA’s commitment to digital money innovation.  The e-HKD Pilot Programme has provided a valuable opportunity for the HKMA to explore with the industry how new forms of digital money can add unique value to the general public.  The HKMA will continue to adopt a use-case driven approach in its exploration of digital money.”

@ Newshounds News™

Source:  CryptoSlate

~~~~~~~~~

RIPPLE VS SEC: IS THE SEC PREPARING A LAST-DITCH APPEAL?

▪️Legal experts believe the SEC will file an appeal, but the regulator remains undecided, creating uncertainty for XRP.

▪️Ripple is confident in its legal position, and analysts foresee a potential bullish breakout for XRP despite the looming appeal.

Following the development of the SEC’s appeal against Ripple, CNF highlighted its effect has put the XRP community on edge, current updates in the ongoing Ripple vs. SEC lawsuit suggest that an appeal from the U.S. Securities and Exchange Commission (SEC) is expected. According to legal experts, the SEC seems poised to challenge Judge Torres’ rulings on the XRP case.

As shared on his X account, former SEC attorneys Marc Fagel and James Farrell have expressed confidence that the SEC will file an appeal, emphasizing that not doing so would reflect poorly on the regulator. The SEC has two weeks left before the deadline to submit the appeal.

As the deadline approaches, the XRP community is growing anxious. Attorney Fred Rispoli speculates that the SEC remains undecided about the appeal and could wait until the last minute to make an announcement. 

Meanwhile, Ripple’s CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty have confirmed that Ripple does not plan to appeal and has secured a stay order on a $125 million penalty until further proceedings.

Interestingly, recent SEC actions in the Binance case suggest the agency may not appeal Judge Torres’ ruling regarding XRP’s programmatic sales, where the judge stated that buyers in programmatic sales were no different from secondary market purchasers.

XRP Price Surges Despite Legal Uncertainty
However, the trading volume has dropped by 25%, hinting at decreased activity among traders. Analysts are predicting a potential bullish breakout for XRP as Ripple prepares for its Ripple Swell 2024 event. The possibility of an SEC appeal could push XRP beyond its current $0.65 resistance level.

As of today, Ripple (XRP) is trading at $0.5897, with a loss of 1.09% in the past day and a 4.92% increase over the past week. See XRP price chart below.

@ Newshounds News™

Source:  Crypto News Flash 

~~~~~~~~~

CARDANO FOUNDER RESPONDS AS DEVELOPER INTRODUCES BITCOIN TO CARDANO BRIDGE

Cardano’s Charles Hoskinson reacts with surprise as a Bitcoin developer unveils a seamless bridge between Bitcoin and Cardano apps.

A Bitcoin developer, known as elraulito, has announced a breakthrough in blockchain interoperability, revealing a seamless bridge between Bitcoin and Cardano applications.

The developer showcased a smart contract on Plutus V3, allowing Bitcoin wallets to interact directly with Cardano’s ecosystem. This enables users to send ADA, manage tokens, and stake in Cardano pools without requiring a new wallet.

Notably, Cardano founder Charles Hoskinson reacted with surprise as the innovation could mark a new phase in cross-chain connectivity.

Smart Contract Capabilities Explained
The developer detailed how the smart contract was built using a combination of tools and protocols. Notably, the contract employs aiken, a Cardano smart contract language, and CIP69, which enhances the address’s programmability.

A multivalidator enables transactions, delegations, and reward withdrawals, while MeshJS manages off-chain transactions. Mesh, an open-source library, supports Web3 app development and currently offers one of the few implementations compatible with Plutus V3.

This bridge allows Bitcoin users to engage in Cardano’s ecosystem without additional software, providing a straightforward onboarding process. As the developer noted, these capabilities could potentially extend to every EVM chain, broadening blockchain usability and functionality.

Community Reactions and Technical Insights
The announcement generated questions among enthusiasts, eager to understand the mechanics and applications of the new bridge.

One user asked how Cardano actions could be sent from a Bitcoin wallet, to which the developer responded that Bitcoin users can sign Cardano actions from their existing wallets.

If the signature is verified, the action is executed by Cardano nodes. This functionality opens doors to onboarding users from outside the Cardano ecosystem, facilitating interactions like airdrops and liquid staking without changing wallets.

Further discussions focused on the validation process. The contract validates the signature by checking the UTXO, receiver, amount, and asset details against its outputs. This validation ensures that transactions align with predefined rules set within the smart contract, providing secure cross-chain operations.

@ Newshounds News™

Source:   The Crypto Basic

  ~~~~~~~~~

BRICS News:

THE TALIBAN MOVEMENT SUBMITS APPLICATION TO ATTEND THE BRICS SUMMIT IN KAZAN

Representatives of the Taliban movement have sent an application to Moscow to attend the BRICS summit which is being held Kazan, the capital of Russia’s Tatarstan Republic on October 22-24, RIA Novosti reported on September 21.

As it has become known, the Taliban want to be represented at the BRICS summit by the acting deputy prime minister of the country, the head of the political wing of the Taliban terrorist movement, Abdullah Ghani Baradar.

"We express our interest in the participation of a high-level delegation in the summit, in particular, Deputy Prime Minister of Afghanistan Abdul Ghani Baradar, as well as myself along with other participants," says an application sent by Nooriddin Azizi, the Taliban’s acting Minister of Commerce and Industry, to Yuri Ushakov, the Aide  to Russian President.  

BRICS is an intergovernmental organization comprising Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates. 

Originally identified to highlight investment opportunities, the grouping evolved into an actual geopolitical bloc, with their governments meeting annually at formal summits and coordinating multilateral policies since 2009.  Bilateral relations among BRICS are conducted mainly based on non-interference, equality, and mutual benefit.

The founding countries of Brazil, Russia, India, and China held the first summit in Yekaterinburg in 2009, with South Africa joining the bloc a year later.  Iran, Egypt, Ethiopia, and the United Arab Emirates joined the organization on January 1, 2024. 

Saudi Arabia is yet to officially join, but participates in the organization's activities as an invited nation.  BRICS is an informal group of countries that includes Russia, Brazil, India, China, and South Africa.

@ Newshounds News™

Source:  Asia-Plus

~~~~~~~~~

BREAKING NEWS Israel Intercepts Missiles from Iraq  |  Youtube

@ Newshounds News™

Source: Seeds of Wisdom Team Currency Facts 

~~~~~~~~~

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