Seeds of Wisdom RV and Economic Updates Monday Evening 10-7-24

Good Evening Dinar Recaps,

ECB STUDY: US MONETARY POLICY HAS BIGGEST IMPACT ON STABLECOIN MARKET CAP
In an important speech today, European Central Bank (ECB) director Piero Cipollone proposed the creation of a European ledger, the EU’s version of the Unified Ledger, to support tokenization in the capital markets. He noted the challenges in creating a conventional Capital Markets Union, including the need for greater legal harmonization.

The Director highlighted some risks in moving towards digital assets and distributed ledger technology (DLT). But rather than viewing tokenization as a threat, he said the EU should embrace the clean sheet opportunity to create a Digital Capital Markets Union. He was speaking at a Bundesbank Symposium.

A European Ledger
“A European ledger could bring together token versions of central bank money, commercial bank money and other digital assets on a shared, programmable platform,” said Mr Cipollone. “In essence, this would see T2S evolving into a DLT-based, single financial market infrastructure for Europe.

While central banks would provide the platform, or the ‘rails’ so to speak, market participants would supply the content, or the ‘trains’.” T2S refers to the EU high value payment system used for the settlement of securities transactions in central bank money.

Since May, the European Central Bank has been coordinating the Eurosystem’s DLT trials for wholesale settlement using central bank money. With 60 private sector organizations taking part, it can see the level of interest and engagement. 

While the EU’s DLT Pilot Regime, which relaxes some of the current EU laws, has not been embraced by incumbents, the first startups are likely to be approved soon.

A key driver behind the likely launch of the retail digital euro is the loss of sovereignty over payment systems to the likes of Visa and Mastercard. The same motivation applies to the capital markets.

“If we drag our feet while other jurisdictions move faster and produce better solutions, we could see financial activities migrating elsewhere and private entities from outside the EU assuming a dominant position in European capital markets,” said Mr Cipollone.

Talking about the potential for tokenization and DLT, he said, “These technologies do not just have the potential to enhance efficiency. They could also fundamentally reshape the very structure of financial intermediation – a system that has remained largely unchanged for centuries.”

The risks of a failure to act
The Director outlined three potential risks of the move toward the tokenization of financial markets. He noted that to date, many institutional initiatives have focused on issuance, especially digital bonds. The proliferation of issuance platforms has already highlighted increasing fragmentation, more so than the current fragmentation between separate central securities depositories (CSDs). A coordinated approach could prevent this fragmentation.

Secondly, institutions want to use cash on chain. If there’s no central bank cash available, then they will use tokenized deposits of stablecoins.

The third risk is more about the unknown. Tokenized securities carry the risks inherent in securities, but there will be new risks. Some risks depend on the settlement asset. He mentioned liquidity risks without specifically referring to a settlement asset backed by money market funds, that could create heightened volatility during turbulent market periods.

The central banks’ role is to ensure the continued, and perhaps increased role of central bank money and to promote “robust, stable and integrated” capital markets.

Mr Cipollone mentioned the challenge of choosing a technical direction. By adopting a single technology, this will discourage exploration of other technologies during a period of innovation. Hence, the alternative is to encourage interoperability between diverse networks, including existing ones. This is a more flexible approach, although we’d observe it will sacrifice some efficiencies.

DLT trial extension?
In terms of concrete actions, following the settlement trials ending next month, the ECB and Eurosystem are exploring how it can build on that. That implies either extending the timeframe or making some or all solutions permanent.

Additionally, it plans to explore allowing DLT-based assets to be used as collateral in the Eurosystem. We’d note that the Swiss National Bank extended its wholesale CBDC trial by two years and already accepts DLT-based collateral.

The director said some interoperability systems are considered a stop gap towards migrating to the longer term vision. This might be a nod to the use of the Trigger solution in the current settlement trials. Instead of providing a digital currency, the Trigger solution links DLTs to the conventional T2S settlement system.

“In embracing this technological shift, we are not merely reacting to change, but actively participating in shaping a more efficient, innovative and resilient financial future for Europe,” Mr Cipollone concluded.

@ Newshounds News™

Source:  Ledger Insights

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BRICS NEWS:  BRICS EYES ‘PETROYUAN’ TO CHALLENGE DOLLAR DOMINANCE AHEAD OF KEY SUMMIT

▪️BRICS is considering using the Chinese yuan for oil payments to reduce reliance on the U.S. dollar.

▪️Saudi Arabia is open to trading oil in yuan, though it prioritizes keeping politics out of commerce.

The BRICS alliance, comprising Brazil, Russia, India, China, and South Africa, is reportedly exploring the potential introduction of a “petroyuan” to rival the dollar’s dominance in the global oil trade.

This is expected to be taken up at the next BRICS summit in Kazan, Russia, to establish an alternative to oil payments in dollars using the yuan.

This comes after the biggest oil exporting nation in the world, Saudi Arabia, showed interest in pricing oil in yuan, which is a major blow to the petrodollar system.

Traditionally, the country has sold its oil in US dollars but has expressed interest in diversifying its trade basket per current international financial practices. Russia is also interested in the petroyuan, as Moscow aims to decrease the use of the US dollar and facilitate transactions through SWIFT.

Following its exclusion from SWIFT in 2022 due to the conflict in Ukraine, Russia has been exploring alternative methods for international financial transactions.

OMFIF Report Highlights Petroyuan Adoption Challenges
While the idea of a petroyuan presents opportunities for the BRICS nations, challenges remain. A recent report from the Official Monetary and Financial Institutions Forum (OMFIF) identified several challenges many countries may face when adopting a yuan-based oil payment system.

 A limitation is that surpluses from oil revenues can only be used to purchase goods from China or stored in foreign currencies. This means that BRICS financial intermediaries would be forced to transfer the yuan to other countries in need.

Chinese banks stand to benefit most from this system, earning profits by managing these surpluses. Other Western financial institutions may also participate, given the possibility of making profits from differences between oil prices in dollars and yuan. However, adopting the petroyuan can further hinder the development of the global payment system.

However, Saudi officials have stated that politics will have no role. Bandar Al-khorayef, Saudi Arabia’s minister of industry and mineral resources, pointed out that while the country is willing to consider the use of new instruments in trade, such as the petroyuan, it will not mix politics with business. 

The BRICS nations are also considering the creation of their own currency for trade within the alliance, with some reports suggesting it may be backed by gold.

IMF Analysis Reveals BRICS Outperforms G7
As highlighted by Crypto News Flash, President Putin recently spoke about the creation of the BRICS pay, a blockchain-based payment system. The system is intended to support foreign trade operations and transactions not involving Western financial systems.

Crypto News Flash recently reported that, based on the IMF’s analysis, BRICS has outperformed the G7 in several key metrics. Notably, BRICS has emerged as the leading producer of oil imports.

The group accounts for 41% of the world’s oil production, a figure higher than the G7’s 29%.  Also, BRICS has the largest population share in the global population, accounting for 45% of the global population, while the G7 countries account for only 30% of the global population.

Moreover, the BRICS countries have now reported 32% of the world GDP while the G7 has reported 29%, which shows the growth of developing countries.

@ Newshounds News™

Source:  Crypto News Flash

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WHICH COUNTRIES ARE WINNING THE CRYPTO RACE?  |  YOUTUBE

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Monday Evening News with MarkZ 10-7-2024

Monday Evening News With MarkZ

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: Hiya, Kids! What's shakin'?

Member: Love the thumbnail picture……hope that is us soon

Member: Any bond or banking updates mark?

MZ: I am still hearing great things from bonds, to banks to groups…..Keep your ears open and your eyes peeled.

MZ: Hopefully we will get some stunning news tomorrow.

MZ: “ KRG civil servants required to open bank accounts by March 2025 under MyAccount initiative”  This is more of the modernization of the Iraqi government and digitization of their banking…..

MZ: “ Parliament finances reassure employees- your salaries are safe” This is the first time we have seen these guarantees.

MZ: “ Sudanese consultant: Digital Transformation will enhance Iraq’s efficiency and attract foreign investments”  They are bringing in billions in international investments …These big investors would not be investing billions of dollars in some backwater country with a useless currency….It wouldn’t be happening ….

Member: They must know something is coming

MZ: And my favorite one tonight “Russia reportedly plans to add silver to state funds reserves”   We have seen Central banks buying up gold….this is part of what fueled golds increased value to over $2,6oo per ounce……well, this announcement is going to be huge for silver. Russia is going to spend billions of rubles buying silver and adding it to their reserves.

Member: That means silver value is about to go way up…….

Member: Mike Bara put out some pretty good bond information news today. Are you hearing the same and can confirm???

Member: Jentel /Mike Bara- today: 4b looking to 10/14 - bonds getting paid out today

Member: My Wells Fargo has contacted me twice about how they are changing things. I've been with them 42 yrs and this is a first time.

Member: I believe we are very close. Credit Card companies are bringing people’s limits to the highest they have ever used on cards…Are they expecting a debt forgiveness so they just let it rip?

MZ: We have seen many, many credit card companies just shut down amounts and giving out loans. Its like they know something is coming.

Member: Keeping all of Florida and NC in my daily prayers

Member: Continued prayers for the victims of Helene and new prayers for those communities in Florida soon to have Milton.

EVERYONE HAVE A PLEASANT EVENING AND IF YOU ARE NEAR THE STORM>>i WILL PRAY FOR YOU

Member: MarkZ-Thank you for all your news and information!! Your appreciated!!

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.

THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL IN THE MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

Youtube:     https://www.youtube.com/watch?v=M1jXzkO1oDc

Economist’s “News and Views” 10-7-2024

Take A Ride On The Road To Roota with Bix Weir (Little By Little)

Andy Schectman:  10-5-2024

Welcome back to Little by Little with Andy Schectman! Today, we’ve got a very special guest—someone who’s been on the frontlines of exposing the hidden truths behind the financial system, the gold and silver markets, and the deeper narratives that most mainstream outlets won’t touch.

He’s the creator of Road to Roota, a man who’s known for his fearless investigations and bold predictions about the future of our economy—Bix Weir!

Bix has spent decades uncovering what’s really happening behind the scenes, from the Federal Reserve to the manipulation of precious metals, and he’s here to share his insights on where we’re headed next.

We’re diving into everything from his groundbreaking Road to Roota theory, the macro forces shaping precious metals, and his unique perspective on how the world is evolving in these unprecedented times. Get ready for an eye-opening conversation!

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

YOUR STANDARD OF LIVING IS RAPIDLY DISAPPEARING... AND ITS ABOUT TO GET A LOT WORSE.

Greg Mannarino:  10-7-2024

https://www.youtube.com/watch?v=8wSV46Rl_R4

Bank Losses ‘Dwarf’ 2008, Housing Shortage Is ‘Extreme’ | Briton Hill

David Lin:  10-7-2024

Briton Hill, Managing Partner of Providence Capital Group, says that the housing market could remain "stuck" and in short supply for a number of years. Hill gives his outlook on home prices, mortgage rates, and stock markets.

0:00 – Intro

 0:40 - Housing market is "stuck"

2:30 - Housing shortage

3:14 - Bank losses

7:34 - Mortgage rates to stay high

10:15 - Buyers’ or sellers’ market?

 12:52 - Capital borrowers’ profiles

15:17 - Lumber price

16:30 - Construction starts

18:22 - Housing affordability solutions

 25:14 - Homebuilders’ priorities

26:15 - Stock market outlook

https://www.youtube.com/watch?v=jAqP1Gt9JEE

Seeds of Wisdom RV and Economic Updates Monday Afternoon 10-7-24

Good afternoon Dinar Recaps,

THE CRYPTO EXECUTIVE WHO COULD SOON BE RUNNING THE SEC

Wall Street’s top cop is headed for a clash with the trendy online brokerage firm Robinhood.

The regulator could be picking a fight with its next boss, too.

Robinhood Chief Legal Officer Dan Gallagher is emerging as a leading contender to head the Securities and Exchange Commission should Donald Trump win back the presidency, according to a dozen former top regulators, lobbyists and securities lawyers.

“He’d be a natural choice,” one former senior SEC official told MM.

But Gallagher — a onetime SEC commissioner who is known for his affability and political chops — may find himself sparring with the agency first.

The SEC is weighing a lawsuit over Robinhood’s swelling cryptocurrency business in a case that would mark the latest salvo in Chair Gary Gensler‘s crackdown on the $2 trillion market. The SEC is looking into whether Robinhood is operating an unregistered broker-dealer and clearing agency in the crypto markets. Charges are not guaranteed, but if the agency does sue, the resulting legal battle could thrust a new and awkward spotlight onto Gallagher — just as the race for the chairmanship heats up.

For his part, Gallagher has a message for the SEC: Don’t do it.

“It’s a dog of a case,” he told MM. Robinhood, Gallagher said, offers trading in a fraction of crypto tokens compared to others that have hundreds on their platforms. And the company doesn’t have any crypto lending or staking products, he said.

“We’ve been forgoing revenue for the company by not going hog wild listing coins, and I think that puts us in a very, very unique position,” Gallagher said. “Shooting at the good guys is a really bad policy.”

An SEC spokesperson declined to comment.

Eight years ago, a rotating cast of characters from the financial, corporate and legal worlds swung through Trump Tower as they sought to join the then-incoming president’s administration. Now, as evidenced by Gallagher’s brewing candidacy, the revolving door between government and industry appears primed to start spinning once again if Trump wins.

“This is the name of the game: Get the fox in the henhouse,” said Richard Painter, who served as chief ethics lawyer for President George W. Bush.

Other names floating around K Street as potential SEC chairs under Trump include former Commodity Futures Trading Commission Chair Chris Giancarlo, who is known online as “CryptoDad"; former SEC General Counsel Robert Stebbins, now a partner at the law firm Willkie Farr & Gallagher; and current SEC Commissioner Hester Peirce, who occupies a Republican seat on the agency’s five-person commission.

Yet Gallagher’s ascendancy to the chair has long been a matter of when, not if, for some Republicans.

“Dan would be great,” Rep. Bill Huizenga (R-Mich.) told our Jasper Goodman following a House Financial Services Hearing where Gallagher testified last month. “I’ve had a great relationship working with him, even when we disagreed on some stuff.”

“Ultimately, you want someone who’s thoughtful, experienced, and not just ideologically politically driven,” the Michigan Republican said. “That’s been, I think, the problem with Gensler.”

Gallagher as a commissioner blasted the package of rules enacted in the wake of the 2008 financial crisis. He called for a sweeping review of trading in the U.S. stock market and was early to raise concern about the SEC’s internal courts, which have since been declared unconstitutional in certain cases by the Supreme Court. He was also a regular on Capitol Hill, briefing lawmakers on the wonky area of securities law.

If Trump did pick Gallagher, the Robinhood executive could face a contentious confirmation process. Democrats have long been wary of industry officials taking over federal regulators, and Robinhood has attracted a fair amount of congressional scrutiny over the years. (Remember GameStop — the bizarre market phenomenon of 2021 when Robinhood had to cut investors off from buying more shares in the beleaguered video game retailer’s stock, drawing the ire of lawmakers across Capitol Hill?)

But Gallagher argues that was then. The company has since overhauled its compliance and risk-management programs, he said. And as for any revolving-door concerns, he says having experience both in and out of government is a good thing.

Whether Gallagher would want to leave Robinhood is unclear. He told MM that he loves his job and that it’s “an honor to have my name included in any discussion of who may be the next SEC chairman.”

Make no mistake, though, Gallagher has clear issues with the SEC’s direction. Just ask him about crypto. He told MM that if he had been chair in the last few years, there would be tailored rules on the books already, as the industry has long been seeking, offering “a path forward for at least a baseline registration system” for crypto exchanges and brokers. And even then, Gallagher believes there would still need to be legislation.

“I would have done things differently,” he said. “I’ve known Gary for a long time and have a lot of respect for Gary, but, on this one, I disagree with him.”

@ Newshounds News™

Source:  Politico

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NASDAQ PUBLISHED APPLICATION TO BEGIN THE PROCEDURE FOR LISTING AND TRADING SHARES OF HASHDEX NASDAQ CRYPTO INDEX US ETF.

@ Newshounds News™

Source:   Crypto World 

NASDAQ-2024-028_Order_Instituting_Proceedings

SEN. ELIZABETH WARREN WILL DEBATE LAWYER JOHN DEATON TWICE IN OCTOBER

Many crypto proponents suggested the race could be a referendum on digital asset policy in the US Senate, with polls showing Warren leading by at least 20 points.

Massachusetts news outlets are reporting that Democratic Senator Elizabeth Warren and Republican candidate John Deaton will debate each other twice before the 2024 election, on Oct. 15 and Oct. 17.

According to an Oct. 7 notice from New England Public Media, the outlet and GBH News will host a debate in Springfield between the two senatorial candidates on Oct. 17, moderated by political reporters Adam Reilly and Saraya Wintersmith. Sen. Warren and Deaton will also appear in Boston to debate on Oct. 15 on WSBK-TV.

It’s unclear if digital assets will be a topic between the two candidates at either debate. Cointelegraph contacted GBH News, who said it would not share the topics in advance.

Future of crypto policy in US Senate?
During her time in office, Sen. Warren has been outspoken about her criticism of cryptocurrency, associating digital assets with funding illicit activities. Deaton, a lawyer, has backed Ripple and other crypto firms facing litigation from the United States Securities and Exchange Commission (SEC).

Several September polls showed Sen. Warren with more than a 20-point lead over Deaton in an election many expect to be a referendum on crypto policy. The Republican candidate claimed on social media that the SEC is “pursuing an anti-crypto agenda” through its enforcement actions and criticized chair Gary Gensler.

Many Democratic lawmakers and candidates have called on members of the party to change their “hostility” toward the crypto industry as presidential candidate Kamala Harris runs against Republican Donald Trump in November. After announcing her candidacy in July, Vice President Harris made her first public statement on digital assets in September, pledging support for the industry.

Commonwealth Unity Fund, a political action committee backed by many crypto proponents, and Gemini co-founders Cameron and Tyler Winklevoss have supported Deaton’s campaign through contributions or media buys.

According to Federal Election Commission records, as of Aug. 14, Deaton had raised roughly $1.8 million in his bid for the US Senate in 2024, with roughly $830,000 in cash on hand. Senator Warren had raised roughly $19 million since January 2019 and had roughly $5.3 million in cash on hand as of Aug. 14.  (WARREN REPRESENTS THE BIG BANKS)

@ Newshounds News™

Source:   CoinTelegraph

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‘THE SEC IS LIVING IN PAST’: TIM DRAPER SLAMS GARY GENSLER, DISCUSSES RIPPLE CASE

With the recent Ripple appeal, the SEC and its chair Gary Gensler are back in the spotlight as the XRP community voices strong opposition to the agency. This new twist has extended the already delayed case timeline, with some speculating it could now stretch until 2026. American venture capital investor Tim Draper appeared on the Thinking Crypto podcast and discussed SEC’s recent actions and their impact.

Ongoing Challenges for the SEC
Draper noted that Gary Gensler, the SEC chair, has faced losses in court, not just with Ripple but also with the Grayscale lawsuit and others. This raises questions about the SEC’s strategy and effectiveness in regulating the crypto industry.

Predictions for the Future
One of Draper’s key predictions is that eventually, the incumbents currently fighting against cryptocurrency will begin to adopt it. He expressed optimism about the political landscape, mentioning that at least one, if not both, presidential candidates are starting to embrace Bitcoin and other cryptocurrencies as tools for innovation.

Innovation Beyond Borders
Draper brought to attention a critical issue: many innovative American companies are geofencing their products, meaning they are limiting their operations to outside the U.S. due to the restrictive regulatory environment. He said that while innovation thrives globally, American companies are at a disadvantage because of the SEC’s outdated regulations.

The Need for Change
Draper argued that the SEC is operating under an “80-year-old set of laws,” which are no longer relevant in today’s fast-evolving tech landscape. He stressed that if the U.S. wants to maintain its competitive edge, particularly in Silicon Valley, it must embrace the innovation happening in the cryptocurrency sector.

Political Encouragement
Draper said  that both presidential candidates appear to recognize the importance of cryptocurrencies. He noted that Donald Trump has positioned himself as the “crypto president,” even stating he would fire Gary Gensler. Similarly, Kamala Harris seems to share these sentiments, which Draper finds encouraging.

@ Newshounds News™
Source:  Coinpedia

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Crypto's Role in the GCR RV  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

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Subscribe to Newsletter

Thank you Dinar Recaps

More News, Rumors and Opinions Monday Afternoon 10-7-2024

KTFA:

Frank26:  "DIGITALIZATION IS THE MONETARY REFORM."..........F26

 Clare: Al-Sudani's Advisor: Digital Transformation Will Boost Iraq's Efficiency and Attract Foreign Investment

10/7/2024

Al-Khatib in a speech during the Real Estate Investment Forum, followed by 964 Network :

On behalf of Prime Minister Mohammed Shia Al-Sudani, I am pleased to welcome you all to the Real Estate Investment Forum in Digital Transformation.

Holding this forum represents an important step towards strengthening the real estate investment sector in Iraq and developing this field to keep pace with the requirements of the digital age.

The government has paid great attention to the digital transformation process in various sectors, most notably the real estate sector, given its importance in achieving sustainable economic development.

Adopting modern technologies in this field will lead to increased efficiency and transparency and enhance Iraq’s ability to attract local and foreign investments.

The government is aware of the challenges facing the real estate investment sector.

Joint cooperation between the government, the private sector and experts will lead to the development of effective strategies that support overcoming these challenges and achieving the desired goals.

The forum aims to exchange ideas and visions and work together to develop innovative solutions that advance the digital transformation process in the real estate investment sector.   LINK

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Frank26:  "SUDANI IS NOT TAKING IT ANYMORE!!!"......F26

Clare:  Iraqi judiciary issues arrest warrant against Integrity Commission Chairman Haider Hanoun

10/7/2024

On Monday, the Iraqi judiciary issued an arrest warrant against the acting head of the Integrity Commission, Haider Hanoun.

According to a judicial source, who spoke to Shafaq News Agency, "The Third Karkh Investigation Court issued an arrest warrant for Haider Hanoun, the acting head of the Integrity Commission, for not appearing before the court in the cases in which he was accused, and to investigate the audio recordings."

The source added, "The court sent notices to Hanoun to attend more than once, but he failed to do so."

The Supreme Judicial Council in Iraq announced, in mid-September, that it had begun taking legal action against the head of the Federal Integrity Commission, Judge Haider Hanoun, due to the statements he made during a press conference in Erbil last week, describing those statements as “incorrect allegations.”

The head of the Federal Integrity Commission, Haider Hanoun, had directed severe criticism at Judge Diaa Jaafar, during an angry scene during a press conference he held in Erbil, dedicated to revealing the secrets of the “theft of the century” that shook the political circles in the country .

The head of the Integrity Commission expressed his anger over what he described as the weakening of the commission and the disappearance of files from the case of the accused Nour Zuhair from Judge Diaa Jaafar, stressing that these developments constitute a major challenge to efforts to combat corruption and recover looted state funds.   LINK

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

Frank26  I suggested if you had a receipt and you've had your currency for more than a year, you'll be in the 15% to 20% tax bracket.  Oh, but if you don't have a receipt or if you try to exchange your currency before...one year of you having it, you'll probably be in the 40% range...IMO  [Dinar Guru Note:  Consult with your financial and tax advisors at the appropriate time to determine the right taxes of exchange for your unique circumstances]

Militia Man  A new [financial] system that is fast and effect - digitally.  Hopefully they're talking about they're going to have to have an exchange rate to do that. A Real Effective Exchange Rate gets them across borders.  From here on out a different playing field, a digital playing field.  I think that's where we are.  I think it's really powerful information.

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Bank of America Sends Warning: ALL Account Holders Are at Risk!

Atlantis Report:  10-6-2024

In a world where financial stability is a top priority for individuals and businesses alike, any warning from a major financial institution deserves our attention.

Recently, Bank of America, one of the largest banks in the United States, raised a red flag for all its account holders. The warning highlights several key issues that could jeopardize the financial well-being of millions of Americans. Bank of America has issued a critical warning to all its account holders.

The bank highlights that everyone is at risk due to various financial uncertainties. This alert, based on their latest market analysis, is crucial for investors and general account holders.

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

"WORSE Than 2008-09..." - David Hunter

LifeWorthLiving:  10-7-2024

David Hunter forecasts that the broad market is set for an 80% crash in the next year, in a bust he believes could be one of the biggest financial downturns in history.

The good news for commodities investors is that he sees an unprecedented supercycle for hard assets on the other side, where gold, silver, energy, uranium, copper, and other vital commodities will explode in value beyond what anyone can anticipate.

https://www.youtube.com/watch?v=1UaAiUKt_Cc

“Tidbits From TNT” Monday 10-7-2024

TNT:

Tishwash:  Sudanese advisor: Most state employees do not know how to use computers

The Prime Minister's Advisor for Digital Transformation Affairs, Hassan Al-Khatib, confirmed today, Monday, that most Iraqi employees do not know how to use computers, pointing to the role of the private sector in developing this field.

Al-Khatib said, during the Real Estate Investment Forum in Digital Transformation, that “Iraq suffers from a weakness in human resources for digital transformation,” adding, “We are in the process of creating a digital academy to appoint and train millions of employees.”

He pointed out that "the academy is being built by the private sector, not the state, and in cooperation with Microsoft and Apple."

He stressed that "the Iraqi state has 5.25 million employees, most of whom do not know how to use computers."link

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Tishwash:  Minister of Communications: We are proceeding with the procedures for implementing the national license project for mobile phones using fifth-generation technology

Minister of Communications Hiyam Al-Yasiri announced today, Saturday, that the ministry is proceeding with completing the procedures for implementing the national license project for mobile phones using fifth-generation technology.

The ministry said in a statement received by the Iraqi News Agency (INA): "In continuation of the intensive efforts to follow up on the procedures for implementing the national mobile phone license project, Minister of Communications Hiyam Al-Yasiri held a meeting with the Supreme Committee for the project in the ministry," indicating that "the meeting comes within a series of ongoing and intensive meetings and procedures to move forward with the procedures for implementing the national mobile phone license project using fifth-generation technology."

The statement added that "these efforts come in implementation of the Council of Ministers' decision, which included the Communications and Media Commission granting the national mobile phone license to the Ministry of Communications to implement it using fifth-generation technology."

It is worth noting that the Ministry of Communications is working on multiple axes to implement the project, including attracting solid specialized international companies to benefit from their expertise in operating the project and communicating with a number of government agencies to contribute to financing the project in a way that ensures that the largest number of segments of society in Iraq benefit from the project's revenues, in addition to communicating with the Communications and Media Commission to complete the procedures for granting the license.  link

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Tishwash:  Central Bank of Iraq: All employees must open bank accounts before the end of March 2025

Today, Sunday, October 6, 2024, a number of employees of the Kurdistan Region received their salaries for the month of August through the "Hesabi" banking project.

In this context, an informed source in the Central Bank of Iraq told Kurdistan 24 that the agreement concluded between the Kurdistan Regional Government and the federal government obliges all employees to open bank accounts.

The source confirmed that employees who do not open a bank account and do not register in the "Hesabi" project until March 2025, will not be able to receive their salaries.

The source explained that there is no difference between the Iraqi localization project and the bank account project, as both come in response to the request of the US Federal Reserve.

He stressed the need for all employees to have bank accounts, with the aim of reorganizing the financial and banking sector in Iraq and the Kurdistan Region.

This comes at a time when 132,000 employees in the Kurdistan Region are preparing to receive their salaries for the month of August through the "Hesabi" project within three days. Today, 40,000 employees received their salaries, with another 46,000 receiving their salaries on Monday and another 46,000 on Tuesday.  link

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Tishwash:  keep in mind the dollar has been very volatile this past week it's at or just about at 1600 dinars per dollar   but this is definitely interesting

Most private banks closed, fears of liquidity crisis amid citizens’ anger

Today, many banks in Iraq witnessed a state of chaos and tension after their sudden closure, which raised widespread concern among citizens, especially with the emergence of reports about some other banks refusing to return customers’ deposits under the pretext of a lack of cash liquidity. 

This development prompted many citizens to quarrel with the management of the banks that remained open, amid growing fears that the officials of these banks would flee after emptying them of money.

The banks that have closed their doors include:

World Bank

Ashur Bank Babylon

Bank

Al Ansari

Bank Middle East

Bank Al-Qabeed Bank

Noor Iraq

Bank Trans Iraq

Bank Al-Huda

Bank Mosul Bank

As for the banks that remained open, but refused to return customers’ deposits under the pretext of lack of liquidity, they include:

National Bank,

Baghdad

Bank, Development

Bank, Al-Nasik Bank

, Bank of the South,

United Bank,

Union Bank,

Al-Tayf Bank

The sudden closure comes amid reports of financial turmoil hitting Iraq's banking sector, with many customers fearing they will lose their money amid growing rumours that some bank officials are planning to flee the country after withdrawing assets from branches.  link

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Mot: . and - poof gone  weekend gone

Mot:  Drum roll Please!! --- and yet Another Wonderful bit of Trivia frum ole ""Mot""

"When we pick up the phone, we say 'Hello' But what is 'Hello'?

 It is not a greeting but rather the name of a person.

 It is 'Margaret Hello,' the fiancée of the telephone inventor 'Graham Bell.'

 It was the first word he said in the initial test of his invention, and it has been used since then as the opening of any phone call worldwide."…

“Coffee With MarkZ” Monday Morning Chat 10-7-2024

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 Monday Morning fellow RV’ers

Member: Another week of hoping……another day older and deeper in debt.

Member: Still hopeful this week

Member: Mark- How are you feeling about this week? I feel like I ask this every week…Groundhog Day

Member: Have anything good today Mark? Are the goal posts moving again?

MZ: I do not believe our goal posts are moving…..I believe things are funneling quickly in the right direction.

MZ: in Iraq…This is a great repeater….”Sudani chairs meeting to review financial reforms-stresses prosecution of speculators”  They are going after speculators…….with the financial reforms this is important.

MZ: “ Al Sudani directs to continue simplifying banking procedures and prosecuting speculators” and “Supporting the local economy the government takes a series of decisions and measures to activate the role of the private sector”   This is non oil revenues

MZ: Right now it’s the Monday Morning blues as we wait to get some bond updates to see if they are still on track with expectations of spendable dollars tomorrow.

Member: What kind of bonds did the contact have from last week-specifically

MZ: I can’t be to specific in case it gets them in trouble…but, it’s a German bond. I have not heard they were moving forward yet with Dragon bonds.

Member: German 1924 comes first , then the dragon bonds , I can not say more

Member: How are u gonna hear anything from bond people when they immediately go under an NDA?

Member: They can at least say they are under an NDA…..we guess the rest

Member: If it’s a shotgun start…..Bonds cannot go until we get notifications….imo

MZ: From the banking side I did get one from someone who works in wealth management. They said “We would not be doing this level of preparation if we weren’t close”. In other words they sould not be working weekends or throughout the week at this level if we were not close. They wouldn’t give me what to expect date-wise…but I find that encouraging.

​​Member: Close. There’s that word again. I think I’ll ban that word forever at some point!

Member: I just got an email from my Chase bank regarding a appointment with a wealth manager

MZ:  Isn’t that crazy….They are chasing people even if they only have $30 or $40 dollars in the account. Maybe they know they have currency and are preparing for something.

Member: I heard there will not be 800 numbers.

MZ: There will be plenty of 800 numbers….not just one magical one the whole world uses

Member: Different zip codes , states and countries will have different numbers is what I heard….thats why we will be asked for our zip codes when we set our appointments.

Member: Will all the banks have the same rates?

MZ: All the redeeming or qualified exchange banks will have the same rates is what I was told . If someone walks in to a teller right off the street….they should get street rates.

Member: I am resigned to waiting for our RV until after the election……stepping off the roller coaster today.

Member: Mark, hearing any chatter from your Iraq contacts regarding the IQD rate being announced publically soon?

Member: there is still a chance Iraq goes alone……that would bring relief to millions if they do.

Member: We need our freaking RV so we can help and start changing this country!!!! Enough waiting!

Member: Pray for Florida, Pray GOD stops the hurricane

Member: thanks for News Mark and sending prayers to Helene suffers

StacieZ joins the stream today. please listen to the replay for her information

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=JRoXDtgVv4U

Iraq Economic News and Points To Ponder Monday AM 10-7-24

The Closure Of Most Private Banks And Fears Of A Liquidity Crisis Amid Citizen Anger

private files ,   2024/10/06 23:57 , Number of readings: 174  Baghdad - Iraq today:  Today, many banks in Iraq witnessed a state of chaos and tension after their sudden closure, which raised widespread concern among citizens, especially with the emergence of reports of some other banks refusing to return customer deposits under the pretext of a lack of cash liquidity.

 This development prompted many citizens to quarrel with the managements of the banks that remained open, in light of mounting fears that the officials of these banks would flee after emptying them of funds.

 Banks that closed their doors include:   World Bank   Assyrian consumption   Consumption of Babylon  Al Ansari Bank   Middle East Bank   Holding Bank   Noor Bank of Iraq   Trans-Iraq Bank   Al Huda Bank   Mosul Bank

 As for the banks that remained open, but refused to return customer deposits under the pretext of a lack of liquidity, they include:   National Bank   Consumption of Baghdad   Development Bank   Hermit Bank   South Bank  United Bank   Union Bank   Spectrum Bank

 This sudden closure comes amid reports of financial turmoil hitting the banking sector in Iraq, as

many customers expressed their fear of losing their money amid increasing rumors about the intention of some bank officials to flee outside the country after withdrawing financial assets from the branches.  

 https://iraqtoday.com/news/85298/إغلاق-أغلب-المصارف-الأهلية-ومخاوف-من-أزمة-سيولة-وسط-غضب-المواطنين    

About 6 Thousand Dollars Per Capita GDP In Iraq

 Economy     Iraq     breaking     Per capita  2024-10-05 02:24   Shafaq News/ The German website Statista, which specializes in market and consumer data, revealed that the per capita GDP in Iraq will reach approximately 6 thousand dollars in 2024.

 The website said in a table seen by Shafaq News Agency that the per capita GDP in Iraq amounts to 5,978 thousand dollars, expected that the per capita share will continue to rise during the next five years to 6,824 thousand dollars in 2029. He added,

 "The largest per capita GDP in Iraq during the past 15 years was in 2013, when it reached $7,021, and the lowest was in 2009, when it reached $3,701."

 This indicator describes GDP per capita at current prices, so GDP was first converted from the national currency to the US dollar at current exchange rates and then divided by the total population.

 It is noteworthy that the GDP is a measure of a country's productivity, and refers to the total value of goods and services produced during a certain period of time (a year). https://shafaq.com/ar/اقتصـاد/حوالي-6-لاف-دولار-نصيب-الفرد-من-الناتج-المحلي-ال-جمالي-في-العراق     

Iraqi Oil Exports To The United States Decline

Energy  Economy News – Baghdad  The US Energy Information Administration announced today, Sunday, that Iraq's oil exports to the United States declined during the past week.

The administration stated in a table published and reviewed by "Al-Eqtisad News" that "the average US imports of crude oil from 10 major countries amounted to 5.744 million barrels per day, an increase of 343 thousand barrels per day compared to the previous week, which recorded 5.401 million barrels per day."

The administration added that "Iraq's oil exports to America amounted to 152 thousand barrels per day during the past week, recording a decrease of 113 thousand barrels per day compared to the previous week, when exports amounted to 265 thousand barrels per day."

The administration indicated that "the largest source of oil to the United States during the past week was Canada, at a rate of 3.799 million barrels per day, followed by Mexico, at an average of 448 thousand barrels per day, then Colombia, at an average of 347 thousand barrels per day, and Venezuela, at an average of 297 thousand barrels per day."

According to the table, "US imports of crude oil from Ecuador amounted to 253 thousand barrels per day, from Brazil 186 thousand barrels per day, from Saudi Arabia 145 thousand barrels per day, from Nigeria 84 thousand barrels per day, and from Libya 77 thousand barrels per day." 108 views  Added 2024/10/06 - https://economy-news.net/content.php?id=48377

Increase In Iraqi Oil Product Revenues Through Electronic Payment

Electronic payment at gas stations  Money and business  Economy News – Baghdad  m The Oil Products Distribution Company announced an increase in its sales of oil derivatives through the electronic payment window POS during the month of September, with revenues exceeding one billion Iraqi dinars for the month of August.

The company’s general manager, Hussein Talib Abboud, revealed that the company’s sales via electronic payment of fuel types in all its distribution outlets in the country reached approximately (740) billion Iraqi dinars, i.e. a difference of more than one billion dinars from the month of August, whose sales amounted to approximately (633) billion dinars.

He stressed that "the gradual rise in revenues from petroleum products since the start of the electronic payment project on April 1, 2023 is nothing but evidence of its success since the moment of its launch and represents an important step in the project to automate distribution work."

The company's general manager noted that "the distribution company is the first company in Iraq to introduce electronic payment service into its operating system in all its distribution outlets, and it also included those dealing with the company from gas and kerosene agents, generators, and constructed stations, in addition to tank conditioning and others."

Hussein Talib Aboud confirmed the company's determination to complete the drawn plans by equipping all fuel stations with electronic payment devices and ending cash transactions in implementation of the government program.  73 views  2024/10/06 - https://economy-news.net/content.php?id=48411

Planning Confirms Its Readiness To Conduct The Population Census On The Scheduled Date

Sunday 06 October 2024 11:17 | Economic Number of readings: 332  Baghdad / NINA / Minister of Planning, Mohammed Tamim, confirmed today, Sunday, the ministry's readiness to conduct the census on its scheduled date.

According to the ministry's statement, "Tamim inspected the operations room of the General Population and Housing Census in the Statistics and Geographic Information Systems Authority, with the aim of reviewing the progress of the numbering and enumeration operations taking place in all governorates, including the governorates of the Kurdistan Region, in preparation for conducting the population census on the twentieth of next November."

The head of the operations room and the work team in the statistics office provided "a detailed explanation of the progress of the numbering and enumeration operations and the rates of completion in each governorate," stressing that "the operations are proceeding at an accelerating pace, and that field work is witnessing great progress."

The minister confirmed, after reviewing the details of the field work, that "the ministry's readiness to conduct the census on its scheduled date has been completed," noting "the readiness of the data center as well as the communications center, in addition to other requirements." / End 11

 https://ninanews.com/Website/News/Details?key=1160078

Exceeding 155 Thousand Dinars.. The Dollar Records A Crazy Rise In Local Markets

Economy  | 06/10/2024  Mawazine News – Economy  The US dollar exchange rates continued to rise today, Sunday, in the markets of the capital, Baghdad.

The dollar prices rose at noon in the Al-Kifah and Al-Harithiya stock exchanges to record 155,200 dinars per 100 dollars, while this morning's prices recorded 153,900 dinars per 100 dollars.

Meanwhile, selling prices in exchange shops in the local markets in Baghdad rose, as the selling price reached 156,250 dinars, while the purchase price reached 154,250 dinars per 100 dollars.

https://www.mawazin.net/Details.aspx?jimare=255672

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

Seeds of Wisdom RV and Economic Updates Monday Morning 10-7-24

Good Morning Dinar Recaps,

XRP NEWS: WILL RIPPLE AND SEC SETTLE DURING 14-DAY APPEAL PERIOD?

▪️Speculation has increased around the SEC vs Ripple case as experts provide contradictory opinions on the probability of a formal appeal after a notice of appeal was submitted on October 3.

▪️A former SEC lawyer believes that the consistent approach of the Agency implies that its decision is not motivated by an increment of the $125 million penalty.

CNF recently reported that the US Securities and Exchange Commission (SEC) has filed a notice of appeal with the States Court of Appeals for the Second Circuit. 

According to a SEC spokesperson, the Commission’s decision stems from its observation of a contradiction between a part of Judge Analisa Torres’ XRP ruling in July 2023 and a decade-long precedent set by the Supreme Court. Meanwhile, an XRP analyst and enthusiast identified as JackTheRippler believes that the blockchain company and the Commission could reach an agreement within 14 days.

According to this enthusiast, SEC’s decision to appeal hinges on the desire to increase the initial penalty of $125 million imposed on Ripple. However, the former SEC lawyer, Marc Fagel, who rightly predicted the appeal decision thinks otherwise.

🚨BREAKING: The SEC and @Ripple can reach a settlement during the 14-day period following the “NOTICE of appeal” The SEC wants more money and appealed against the $125M.#XRP‘s status cannot be changed and will never be considered a security! pic.twitter.com/9AOCbdQXhD— JackTheRippler (@jack_rippla) October 6, 2024

Commenting on this, Fagel hinted that the consistency in the approach of the Commission, starting from its Interlocutory appeal last year over the programmatic sales of XRP, implies that the reason for its appeal is far from the penalty amount. To him, there is no reasonable basis to expect a settlement even though this is theoretically possible.

Ripple (XRP) Executives and Industry Lawyers Speak Out
In a brutal response, Ripple Chief Legal Officer (CLO) Stuart Alderoty, accused the SEC of deliberately staging litigation warfare against the crypto industry. According to him, Ripple would study the situation and file a cross-appeal.

We are evaluating whether to file a cross-appeal. Either way, the SEC’s lawsuit has been irrational and misguided from the start, and we’re ready to prove that yet again in the appellate court (once again taking the lead for the industry).

Joining the conversation, lawyer Bill Morgan clarified that the Commission has only filed a notice of appeal. According to him, both parties could potentially negotiate for a settlement within 14 days.

On the other hand, Morgan believes that this possibility could also be highly unlikely considering the SEC’s recent stance on the crypto industry. In this case, he advised that Ripple challenge the institutional sales to On-Demand Liquidity (ODL) customers if it decides to cross-appeal.

Meanwhile, Ripple CEO Brad Garlinghouse thinks this appeal is “misguided” and “infuriating”.

While we’ll fight in court for as long as we need, let’s be clear: XRP’s status as a non-security is the law of the land today – and that does not change even in the face of this misguided – and infuriating – appeal. Remember, when the SEC tried unsuccessfully to file an “interlocutory appeal” they made clear they had no intention of challenging XRP’s status as a non-security.)

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

CRYPTO IN THE UAE JUST GOT A TAX BREAK : NO MORE VAT ON DIGITAL ASSETS!

The UAE has once again planted itself in the spotlight for the crypto space with its recent Dubai crypto tax changes. While most countries are struggling to give crypto its space in the economy, the UAE is leading by setting various examples.

This time, the UAE has brought big changes to its tax rules for crypto. On October 02, the Federal Tax Authority (FTA) made an announcement about new updates to Value Added Tax. Transfers and conversions of digital assets, including cryptocurrencies, are now exempt from VAT. This update even applies retroactively to transactions dating back to 2018.

What’s the Deal With Virtual Assets and VAT?
If you’re running a business in the UAE that deals with virtual assets—like buying, selling, or converting crypto—this change could mean you owe less tax. And the best part? It applies retroactively from January 1, 2018, which could lead to some major tax savings.

But there’s a bit more to it. If your company has been paying VAT on these transactions since 2018, you might want to take a closer look at your old tax returns. There could be a chance to correct past filings and claim back VAT that you shouldn’t have paid in the first place.

 This process is called input VAT recovery, and it allows businesses to get back the VAT they’ve already paid on business- related expenses.

New VAT Rules for Exports and Services
The changes don’t just affect crypto companies. Exporters in the UAE will also see some shifts in how they handle VAT. It’s now easier to apply the zero VAT rate when exporting goods, as the documentary requirements have been relaxed. On the flip side, exporting services—especially those tied to real estate or digital activities—may now be subject to the standard VAT rate.

VAT Exemptions for Investment Funds
It’s not just crypto businesses celebrating these changes. Investment funds are also getting a VAT break. Fund managers, and those running licensed investment funds, can now benefit from VAT exemptions, which could lower their operating costs. These savings might help investment firms reinvest in their growth, especially when working with services from outside the UAE.

What’s Next for Crypto Regulations?
Aside from the tax updates, the UAE is tightening its regulations on cryptocurrencies. Dubai’s Virtual Asset Regulatory Authority (VARA) is teaming up with the Securities and Commodities Authority (SCA) to monitor crypto businesses more closely. If you’re in the business of promoting virtual assets, you’ll need to make sure you include a disclaimer in your marketing materials. It must warn that virtual assets can be extremely volatile and might lose value quickly.

What Should Businesses Do Now?
These updates are a game-changer for companies in the UAE—especially those dealing with crypto. Whether you’re managing virtual assets or running an investment fund, now’s the time to review your tax strategy. By adjusting to these new regulations, businesses could save money and avoid unnecessary complications in the future. And with the UAE aiming to be a global hub for digital assets, keeping up with these changes is key to staying competitive.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

HONG KONG ISSUES THIRD CRYPTO TRADING PLATFORM LICENSE, PLANS MORE APPROVALS

11 more platforms are currently on the SFC’s "deemed-to-be-licensed" list.

Hong Kong’s financial regulator has granted its third license under the new crypto trading platform regime, with plans to approve more by the end of the year.

In an interview with local media outlet HK01, Julia Leung, Chief Executive of the Securities and Futures Commission (SFC), confirmed that HKVAX is the latest firm to receive a license to operate as a crypto exchange in Hong Kong.

This follows earlier approvals for OSL and HashKey, which are already licensed to provide crypto trading services.

11 More Platforms Are Under Consideration
Leung highlighted that 11 other platforms are currently on the SFC’s “deemed-to-be-licensed” list, which includes firms that have submitted applications under the new regime.

The SFC has conducted initial onsite inspections of these applicants and has asked them to make necessary adjustments to comply with regulatory requirements.

Leung expressed the regulator’s aim to issue more licenses in batches by year-end.

Anthony Ng, co-founder and CEO of HKVAX, stated that the license aligns with Hong Kong’s ambition to solidify its role as a leading financial hub.

“This approval affirms HKVAX’s position and demonstrates Hong Kong’s commitment to being at the forefront of the virtual asset industry,” Ng said.

Hong Kong’s approach to crypto regulation gained momentum in June 2023, when it formally implemented a licensing framework for crypto trading platforms, enabling them to serve retail investors.

The move was seen as a bid to attract more crypto firms to the city.

However, not everyone is satisfied with the regulatory framework.

Duncan Chiu, a local lawmaker, criticized the rules as “excessively stringent,” suggesting they have deterred some global exchanges from entering the Hong Kong market.

On March 28, 2024, HKVAEX, suspected to be affiliated with Binance, withdrew its license application.

Subsequently, on May 14, IBTCEX, QuanXLab, and Huobi HK followed suit, followed by Gate.HK on May 22, OKX HK on May 24, and Bybit (Spark Fintech Limited) on May 31.

Meanwhile, Bullish and Crypto.com remain on the SFC’s list of pending applicants.

Crypto Exchange Applicants Face Uncertainty After Inspections
As reported, 11 Hong Kong cryptocurrency exchanges, which initially received provisional approvals, have come under regulatory scrutiny.

This came after the city’s SFC conducted on-site inspections of these “deemed-to-be-licensed” platforms and found several practices that fell short of regulatory expectations.

The inspections revealed that some crypto firms are overly dependent on a limited number of executives for the custody of client assets, raising concerns about their ability to manage these responsibilities effectively.

Additionally, some exchanges were found lacking in robust measures to protect against cybercrime.

The SFC has not disclosed which specific firms failed to meet the standards, and the inspections are still ongoing, leaving the possibility of further findings.

The SFC warned that platforms unable to address critical deficiencies identified during inspections could face the removal of their “deemed-to-be-licensed” status or have their license applications rejected outright.

@ Newshounds News™

Source:  CryptoNews   

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XINFIN XDC THE MOST UNDERVALUED COIN - DIGITAL TRADE IS READY TO EXPLODE  |  Youtube

@ Newshounds News™

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 DON'T MISS A NOTIFICATION AND SUBSCRIBE  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Thank you Dinar Recaps

News, Rumors and Opinions Monday AM 10-7-2024

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

RV Excerpts from the Restored Republic via a GCR: Update as of Mon. 7 Oct. 2024

Compiled Mon. 7 Oct. 2024 12:01 am EST by Judy Byington

Sun. 6 Oct. 2024 You should be excited as the rest of your life is starting today. …Julian Assange: https://t.me/JulianAssangeWiki/2372

Banks are in check.
• Government is in check.
• Wall Street is in check.
• Ports are in check.
• The entertainment industry is in check.
• The Legal system is in check.

All of this is happening today and will have ripple effects for decades. You will witness it all in real-time and see accountability unfold like never before. There will be no more getting over on the American people. Your country will shift towards programs that serve you or else. And that’s the way it’s going to be for centuries. We deserve it. You deserve it. Your children deserve it. To solidify this, we must witness what Law & Order can do for a country under siege. This will be the stamp of approval.

Banks on a leash: No more reckless speculation. No more shady deals. For the first time, the banking system is being held accountable. The gold-backed system will protect your hard-earned wealth with real value, not inflated promises.

Wall Street’s Days of Manipulation Are Over: The financial elites are finally being put in check. No more market rigging, no more siphoning wealth from the middle class. The rise of decentralized, asset-backed systems ensures real value drives the market.

Ports Flowing with Integrity: No more backroom deals creating shortages. Goods will now flow through the ports with fair labor practices, ensuring a system built on trust and cooperation.

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

Global Currency Reset: (Rumors/Opinions)

Sat. 5 Oct. 2024 Wolverine: With the news that the Pentecostal group has finally released payments to their leaders it’s the start of the domino effect that soon others will start soon as well. The Precatorias should start by this week and hopefully the rest will follow. Please remain patient and believe this is happening. With the release of the Pentecostal group it’s a sign that this has started. Glory to God. God bless everyone of you. Your friend Wolverine

Sun. 6 Oct. 2024: QFS NEWS: All Banks are Transitioning Over Into the QFS – Start Getting Hold of the ISO 20022 XLM and XRP – 8 Billion People Will Inevitably Transition to the QFS. The world is on the brink of an unprecedented financial revolution, and the powerhouses of the banking sector are quaking in their boots. The Quantum Financial System (QFS) is here, and it’s changing EVERYTHING. Prepare yourselves, the revolution has begun! https://amg-news.com/qfs-news-all-banks-are-transitioning-over-into-the-qfs-start-getting-hold-of-the-iso-20022-xlm-and-xrp-8-billion-people-will-inevitably-transition-to-the-qfs/

Sun. 6 Oct. 2024: BOOOM!! There are a total of 179 central banks listed by the BIS with about 80 more when counting regional monetary authorities among the 209 countries— all these are being connected too.

Sun. 6 Oct. 2024: New List of 209 Countries That Are Connected to The QFS System or are Being Connected – QFS + RTGS Trust The Plan! https://amg-news.com/update-new-list-of-209-countries-that-are-connected-to-the-qfs-system-or-are-being-connected-qfs-rtgs-trust-the-plan/

Read full post here:  https://dinarchronicles.com/2024/10/07/restored-republic-via-a-gcr-update-as-of-october-7-2024/

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

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

Militia Man  If you add up the oil, non-oil, tourism, all of the thing that's where they're going to be able to support the value of their exchange rate with a Real Effective Exchange Rate - Once approved by the IMF, Bank of International Settlements, The World Bank...This is really getting hot!

Mnt Goat   I was also told to watch for yet more articles in the news about the project to delete the zeros but to be aware that ONLY the ones coming from her committee on this subject matter can be trusted. As you know my contact works on the committee from the Central Bank and it has been given the task of ensuring a smooth process. I was also told
that in late November or early December we will see the newer lower denominations and their pictures and features depicted on the CBI site. The ending of the currency auctions at the end of 2024 will also be signal to us that everything is moving correctly and we should see the IQD returned or reinstated back to FOREX in early 2025.

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

MARKETS A LOOK AHEAD: WHAT IS ABOUT TO HAPPEN WILL BLOW YOUR MIND. (Important Updates).

Greg Mannarino:  10-6-2024

https://www.youtube.com/watch?v=VHix3dA7EHE

"Be PREPARED For What's COMING..." - George Gammon

10-6-2024

George offers his perspective on the likelihood and potential severity of a looming recession, drawing parallels to past economic crises. He emphasizes the importance of understanding these cycles and being prepared for what might come next.

https://www.youtube.com/watch?v=zTyfck-ez98

Iraq Dinar News-Iraqi Dinar-Liquidity-Sudani Report-Digital Phase-Supreme Court Ruling-Text SMS-ATMs

Iraq Dinar News-Iraqi Dinar-Liquidity-Sudani Report-Digital Phase-Supreme Court Ruling-Text SMS-ATMs

MilitiaMan and Crew:  10-6-2024

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=7E1b5sikkPY

“Humor While We Wait” Posted by Mot at TNT

TNT:

Mot:  The Curtain Rods

She spent the first day packing her belongings into boxes, crates and suitcases.

On the second day, she had the movers come and collect her things.

On the third day, she sat down for the last time at their beautiful dining room table by candle light, put on some soft background music and feasted on a pound of shrimp, a jar of caviar and a bottle of Chardonnay.

When she had finished, she went into each and every room and deposited a few half-eaten shrimp shells dipped in caviar, into the hollow of the curtain rods. She then cleaned up the kitchen and left.

When the husband returned with his new girlfriend, all was bliss for the first few days. Then slowly, the house began to smell. They tried everything cleaning, mopping and airing the place out.

Vents were checked for dead rodents and carpets were steam cleaned.

Air fresheners were hung everywhere. Exterminators were brought in to set off gas canisters, during which they had to move out for a few days, and in the end they even paid to replace the expensive wool carpeting.

Nothing worked. People stopped coming over to visit. Repairmen refused to work in the house. The maid quit.

Finally, they could not take the stench any longer and decided to move.

A month later, even though they had cut their price in half, they could not find a buyer for their stinky house. Word got out and eventually even the local Realtors refused to return their calls.

Finally, they had to borrow a huge sum of money from the bank to purchase a new place.

The ex-wife called the man and asked how things were going. He told her the saga of the rotting house. She listened politely and said that she missed her old home terribly, and would be willing to reduce her divorce settlement in exchange for getting the house back.

Knowing his ex-wife had no idea how bad the smell was, he agreed on a price that was about 1/10th of what the house had been worth, but only if she were to sign the papers that very day.

She agreed and within the hour his lawyers delivered the paperwork.

A week later the man and his girlfriend stood smiling as they watched the moving company pack everything to take to their new home......Including the curtain rods.

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

Mot: .. Good Job 

Mot: . Truth be Known 

Mot: Clever he Can Beeeeee     

Mot:  with the Gas Prices so out of Hand!!!! 

Mot: . poor ole ""Opal"" Pickles and stinky socks

5 Financial Habits Keeping You Broke

5 Financial Habits Keeping You Broke, According to Money Expert Michela Allocca

Caitlyn Moorhead  Thu, October 3, 2024   GOBankingRates

The strategies and habits that lead to your personal financial success aren’t just comprised of big investments and down payments, but also of knowing which things to avoid. According to money expert and financial analyst Michela Allocca, a rising voice in personal finance, certain financial habits are major contributors to keeping people broke.

She said, “Personal finance success is 10% strategy and 90% behavior. There are so many things you can do that are external of your income to help ensure you stay on the right path.”

So many money moves are positive, such as starting an emergency fund, diversifying your portfolio or maximizing your 401(k). However, keep reading to discover the five habits Allocca says you should break unless you want to stay broke.

Not Keeping a Grocery List

If you are living paycheck to paycheck and spending every dollar you earn, there’s no room for impulse buying at checkout if you want to start saving.

Grocery shopping is inevitable, but Michela Allocca said it doesn’t have to derail your monthly budget. Keeping a grocery list is a great way to ensure you stick to your budget while shopping.

“Having a grocery list and shopping my pantry makes it so much easier to save money on food and not waste anything,” added Allocca. “It’s a simple habit that makes a big difference!”

Not Tracking Your Expenses

One of the most common mistakes people make is failing to create and stick to a budget. One of the biggest culprits in this is not tracking your expenses.

“You need to be doing this to know where your money is going,” she said.

Allocca stressed that budgeting is not about restriction but about clarity and control over your money. Without a clear plan, it’s easy to overspend and lose track of where your money is going.

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TO READ MORE:  https://www.yahoo.com/finance/news/5-financial-habits-keeping-broke-180032867.html