Friday Evening Chat With MarkZ 10-11-2024

Friday Evening Chat 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: Welcome to another Friday Night before a 3 day weekend

Member: I really hope there is good news tonight…. I could use some

Member: I bet Mark feels like he’s driving a car to the beach and the kids keep asking “Are we there yet?”

MZ: We do have some interesting news for those willing to sharpen their pencils and think.  “ Economic Researcher: The Iraqi budget enters the danger phase” 

Mark goes into a lengthy discussion on this very long article….and speaks very fast. If you wish to hear this description of the article be sure to listen to the video.

MZ: This article is telling us we are about to see an exponential change.

Member: This is Petra, part of MM&Crew...Iraq has been removing currency and destroying it for years so IOO, there is much less than 100T. Let's say there is 50T...now drop 3 zero's...that's 50B. Totally within their ability to defend their currency at a higher rate!!

Member: Welcome Petra ……and thank you!

Member: in my opinion... their done, just waiting for the green light. so many promises, projects signed

MZ: “ The central bank continues the implementation of banking reform plans”  They are telling us they are working on implementation…and they are getting a lot done. Inflation is not a problem for them

Member: BRICS is really taking about going back on the gold standard and a new currency called “The Unit”

Member: If Iraq goes gold backed….. ​​Iraq has over 10 trillion in today's market value of gold holdings

MZ: “Gold in Iraq: A promising future for mining” this article is from 2015 but tells us how much gold they have in the ground ect. I had the privilege of talking with someone in the industry dealing with equipment….they have started moving a lot of gold mining equipment to Iraq. Iraq’s gold mining industry is starting to explode. They know they have a tremendous amount of gold and rare earth minerals there. . As a Matter of fact experts over there say they may actually eclipse their oil revenues.

MZ: Like Jaimie Dimon said “Iraq will be the economic savior of the world”

Member: How are you feeling about things Mark?

MZ: I am definitely feeling warm and fuzzy

Member: Another intel person says RV on Oct 22nd

MZ: That’s well within what I am hearing..Don’t know if that’s the exact date though

Member: The actual ‘clues’ were: it’s from many that Oct is our month, can’t tell us exact (asked not to); but it ends in “Y” , it has a 2; and he likes Tuesdays.

Member: Thanks Mark and Mods …..everyone enjoy your Friday night’

Member: And hoping this is a wonderful 3 day weekend for us all.

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.

JOIN US TOMORROW AT 9:45 AM EST. THE CBD THE FIRST 45 MINS AND MARK GIVE THE NEWS AT 10:30 AM!

Youtube:     https://www.youtube.com/watch?v=P7gw3dT0WTM

Bruce’s Big Call Dinar Intel Thursday Night 10-10-24

Bruce’s Big Call Dinar Intel Thursday Night 10-10-24 

Transcribed By WiserNow Emailed To Recaps

Welcome everybody to big call tonight. It is Thursday, October 10TH and you're listening to the big call and hearing some things outside. And I just wanted to see what that was all about. Okay, well, you're listening to the big call. Thanks, everybody. Hold one moment. Yes. May I help you?  Hello ? Hello, never mind, at least for right now, never mind, I don't know what that was.

So welcome everybody to the big call. Take two. Thank you for joining us tonight. We welcome everybody out there in big call universe, and we're looking forward to having a great call tonight, probably a shorter call. Maybe we don't know more than an hour for tonight, because Bob will not be with us tonight, like I mentioned in the pre call he is ….. All right, let's see. Let's go. Take three … so Bob won't be with us tonight, but we'll just do whatever we need to do and move forward with the call - but for right now, let's go ahead and pray the call in

Let's see what I wanted to talk about tonight. I don't have a whole lot of Intel, you guys, but what I've got, I think, is very accurate.

And we had heard some things that are giving us the impression that we were going to start, that we would get notified Friday, tomorrow, and it sounded good at the time, but then the new Intel that we got today superseded it. Means it surpassed it, and it's really much more accurate in terms of timing.

So we know that all the redemption centers east of the Mississippi city, for example, are handled by one person, meaning under their under their authority, and this is true for the entire country, not just east of the Mississippi, but that's how we got the information.

This what's going to happen on Monday, which is indigenous peoples day and Columbus Day is that by noon the liaison for all of the redemption centers will receive the email from Treasury and Wells Fargo, and we'll have until five o'clock Monday to get the information out and email to all of the 20 821 redemption centers that are east of the Mississippi

Now the same thing is going to be true by other liaison throughout the entire country, okay, but I'm speaking to our contact, so what that means is they receive it on Monday before, and they have to receive it before five o'clock or by 5pm on Monday, okay? And that's Easter time,

 Then Tuesday we will receive our emails with the toll free number on Tuesday at some time – which we do not know --  if we get it early enough, Tuesday, we could quite possibly begin exchanges Tuesday afternoon  and evening – on this coming Tuesday, if we get it later in the day, let's say mid to late afternoon On Tuesday, then we would start our exchanges  on Wednesday,  

Alright let’s put some dates with this -- Monday is the 14th of October, so that's when the emails are to go out to the redemption center leaders by five o'clock Monday, the 15th, 14th, 14th, we would be notified on the 15th and then start either on 15th or 16th of October.

Now that's the long and the short of it right there.

I came to find out that the information about Friday, which means between 11 in the morning tomorrow to 11pm the bondholders are supposed to be notified, not us in 4B  - bondholders  in tier three, and they will get in that email a certain day and time where they would have access to their funds that they will be able to see in their accounts, probably Tuesday or Wednesday, they'll be able to gain access to those funds - -- to that extent  we're looking at shotgun start and no unfair advantage for anyone being tier three and tier 4A, tier 4B which is the Internet Group,  Essentially we would be notified approximately the same time within whatever – hours of each other

 So that is very basically what we have learned -- Now. I do believe this is happening now, because we've got word that….  remember….. NESARA could give us announcements as early as Monday or Tuesday or Wednesday.

I think really, the other information we heard today was that, let's see the 16th, which would be Wednesday, is the day that Iraq is paying all of their contractors and paying any back pay that they need to pay.

And it's also the day Wednesday the 16th, the day of celebration in Iraq for this RV and their new rate on the dinar, etc. So it looks like our start date would be Wednesday the 16th, but it could be actually, that we would start on Tuesday.

I know we're supposed to get notified on Tuesday whether we start exchanges or not. We'll have see, but the whole thing is lining up beautifully. Now, why do we think we're not getting it this weekend for us, meaning Friday, Saturday, Sunday for us? Bondholders, yes, not us.

I think it's because number one, the hurricanes definitely slowed it down. It set us back possibly a week. But the dates that I gave you are taking into consideration the effects of both hurricanes and the cleanup, which is ongoing now, of course, and what it means is that we're going to with exchanges all the way through and beyond the end of October, or we were going to be about 30 some days – now It looks like we could go as many as 40 to 50 days, depending on the demographics where the redemption centers are located, it's not going to be really that much of an issue for us.

Okay, just remember that you're going to be you've got time to set your appointments and get your exchange is done, and I'm excited about the timing of that bring together nicely for us.

Now, remember, rates in the redemption centers will be the best rates higher than the banks, and this is something that was orchestrated to give us the highest possible rate.

It's true of the dong, and it's certainly true of the dinar  as well, because no banks will be able to redeem the Zim except redemption centers, and even if you call the banks, they will refer you to the 800 number, which we're going to get to some appointment if you're a Zim holder.

Okay, so don't think you're going to be smart, but the process by going to a bank not going to be good for you. You'll end up getting lower rates. Okay, so I know that because our people giving us rates on banks and redemption centers.

So really, guys, I think that is everything that needs to be said at this point,

Okay, this weekend coming, and it'd be looking for your emails on Tuesday. Now, if we get what we're expecting to get on Tuesday, we are not really expected to do a call Tuesday night -- If we get our emails before the big call on Tuesday, which I expect we will, then we will not have a call, as you guys will be scrambling, setting your appointments, making your plans for vacation and so on.

All right, let me thank Sue and Bob at GCK Pastor Scott, Jeannie, of the satellite, Pete. Call out to so many countries and their own language. And thank you so much. Victor burst for tuning in. Over the last 13 years. Thank you so much. And let's go ahead and pray the call out

Bruce’s Big Call Dinar Intel Thursday Night 9-26--24  REPLAY LINK  Intel Begins   51:11

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHgVk

Bruce’s Big Call Dinar Intel Tuesday Night 10-8-24  REPLAY LINK  Intel Begins 1:03:35

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Bruce’s Big Call Dinar Intel Thursday Night 9-26--24  REPLAY LINK  Intel Begins   1:08:08

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Bruce’s Big Call Dinar Intel Tuesday Night 10-1-24  REPLAY LINK  Intel Begins   1:14:45

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Bruce’s Big Call Dinar Intel Thursday Night 9-26--24  REPLAY LINK  Intel Begins   1:00:40

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Bruce’s Big Call Dinar Intel Tuesday Night 9-24-24  REPLAY LINK  Intel Begins 56:36

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Bruce’s Big Call Dinar Intel Thursday Night 9-19--24  REPLAY LINK  Intel Begins   1:11:30

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHgae

Bruce’s Big Call Dinar Intel Tuesday Night 9-17-24  REPLAY LINK  Intel Begins 1:02:20

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FH56t

Bruce’s Big Call Dinar Intel Thursday Night 9-12-24   REPLAY LINK   Intel Begins   1:13:30

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FH5uP

Bruce’s Big Call Dinar Intel Tuesday Night 9-10--24  REPLAY LINK  Intel Begins 1:07:27

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Seeds of Wisdom RV and Economic Updates Friday Afternoon 10-11-24

Good Afternoon Dinar Recaps,

RIPPLE’S XRP INVOLVED IN ANOTHER LAWSUIT AGAINST THE SEC: DETAILS

The SEC had warned Bitnomial that offering XRP Futures could violate securities laws without additional compliance.

Bitnomial has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) and its five commissioners, accusing the agency of overextending its jurisdiction.

The company’s case disputes the SEC’s classification of XRP as a security, which the agency claims qualifies as an investment contract under the Securities Exchange Act.

The Case Details
The Chicago-based exchange, regulated by the Commodity Futures Trading Commission (CFTC), had requested to offer XRP US Dollar Futures in August. This followed a federal ruling that XRP is not considered a security in the SEC’s lawsuit against Ripple.

Shortly after filing, the SEC warned the exchange that moving forward with the listing could violate federal securities laws unless the firm complied with additional requirements. This would include registering as a national securities exchange.

According to the court document, the regulatory body informed Bitnomial that listing XRP Futures would require compliance with securities laws, as they would be classified as “security futures” under joint SEC and CFTC jurisdiction. However, the exchange has objected to that interpretation:

“Bitnomial disagrees with the SEC’s view that XRP is an investment contract and, therefore, a security and that XRP Futures are thus security futures.”

The company also claims the SEC’s stance overextends its jurisdiction into areas typically overseen by the CFTC.

As such, it is seeking a court declaration that XRP Futures should not be classified as security futures. This would protect the exchange from SEC enforcement. The firm also aims to prevent the agency from asserting jurisdiction over XRP Futures or taking any enforcement action relating to their future listing.

Industry-Wide Implications
“Establishing this precedent is not just about XRP; it’s about all digital assets,” said Bitnomial CEO Luke Hoersten in an interview with FOX Business.

He added that the firm, unlike others involved in legal disputes with the SEC, has maintained a clean compliance record. According to him, this places them in a unique position to seek a court ruling on whether XRP futures should be classified as securities or commodities.

The case follows similar legal action by Crypto.com, which recently sued the SEC after receiving a Wells notice indicating potential enforcement action. The firm has also accused the agency of overstepping its authority by classifying most crypto assets as securities.

The SEC also just logged a notice of appeal in the Ripple lawsuit. Meanwhile, Investment firm Canary Capital filed on October 8 to launch a spot XRP exchange-traded fund (ETF). This follows a similar proposal made by Bitwise just days earlier.

@ Newshounds News™

Source:  CryptoPotato

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BRICS News: 12 Countries Drop US Dollar, Conduct Majority of Trade in Local Currencies While Eyeing Crypto

▪️The members of the CIS alliance have started conducting trade settlements in local currencies.

▪️The goal remains to alleviate the strains from over-dependence on the US Dollar.

The Commonwealth of Independent States (CIS), consisting of 12 countries, now conducts most of its trades with local fiat currencies. This move aligns with the BRICS alliance’s de-dollarization efforts to dump the US dollar for trade settlement.

The CIS countries include Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Georgia, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan.

On the other hand, the BRICS nations initially include Brazil, Russia, India, China, and South Africa. This year, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates have joined the bloc.

CIS Dumps US Dollar for Local Currencies
Russia, also a member of the BRICS bloc, persuaded the CIS to switch from using the US Dollar to national currencies for trade. The other current members concurred with Russia’s proposed trade policy since adopting local currencies would boost their economies. 

This year, the CIS bloc rarely utilized the US dollar for trade settlements. Instead, the alliance settled 85% of cross-border transactions in national currencies, adding pressure to the US Dollar.

Russian President Vladimir Putin revealed at the CIS summit that BRICS and CIS will collaborate to permanently eliminate reliance on the US dollar.

“The process of import phase-out is moving quickly, and thus the technology sovereignty of our country is being strengthened,” he said.

The de-dollarization initiatives 
Thus, the BRICS-specific de-dollarization goal is now being extended to the CIS alliance.

The de-dollarization initiatives promote regional economic collaboration and deliver higher financial independence for emerging countries. If the current trend persists, the dollar may lose its value, leading to massive deficits and hyperinflation in the US.

The CIS Eyeing Crypto
In the future, the CIS alliance intends to incorporate crypto for cross-border trade settlements. Cryptocurrencies have heralded a new shift to payment services in the last few years.

They promise faster, cheaper, and more transparent transactions, especially across borders due to their anonymity and decentralized framework.

As CNF noted in a previous report, Russia has approved crypto for international payments. This move is part of the country’s attempt to alleviate pressure from Western sanctions while reducing dependence on the US dollar. This development follows the government’s legalization of Bitcoin mining back in July.

Besides Bitcoin, XRP has become a major rival to the US dollar. Despite Ripple’s ongoing legal challenges with the US Securities and Exchange Commission (SEC), the BRICS bloc and Japan are pushing for XRP adoption. In a recent update CNF covered, Ripple’s CEO Brad Garlinghouse says XRP is at the heart of global financial systems.

It is important to note that BRICS has extended its investigation into using gold to challenge the US dollar. Nonetheless, BRICS and CIS have yet to name any digital asset as their official currency among member nations. As blockchain and the global financial system progress, many expect this will happen soon.

@ Newshounds News™

Source:  Crypto News Flash

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A GUIDE TO BITCOIN MINING

The rise of cryptocurrency has captured people’s attention worldwide. It promises new possibilities for managing money outside traditional banking and financial systems. This post sheds some light on Bitcoin mining and how a person could get involved.

Bitcoin Mining
Bitcoin is the first digital currency. It uses a decentralized computer network that tracks transactions with many individual users worldwide. A new Bitcoin is created through mining when miners validate a group of transactions.

The network rewards miners with a specific amount of Bitcoin to verify transactions. Blockchain technology underpins the whole Bitcoin operation. The verified transactions get bundled together periodically into blocks and stacked one after the other like links in a chain.

There has always been interest in knowing who owns the most Bitcoin. By most accounts, the single biggest Bitcoin account belongs to Satoshi Nakamoto, the mysterious founder who first launched the revolutionary Bitcoin network concept but has remained in the shadows ever since.

How Does Bitcoin Mining Work?
To add a new block, miners participate in a competitive calculation spree involving complex mathematical problems. Solving these computations requires powerful computer systems running and plenty of electricity.

The miners race to be the first to arrive at the single right response to the question (known as hash). The more guesses made per second, the higher the chances of solving the problem. With more miners joining over time, the difficulty continues to increase.

The potential for profit in Bitcoin mining depends on various factors. You must consider the significant upfront expenses of buying specialized, high-powered hardware for the job and your ongoing electricity bills.

Some people opt to join a mining pool. When participating in shared group efforts, everyone contributes their resources. However, miners in a pool must share the rewards. Additionally, since Bitcoin’s worth fluctuates greatly, it is challenging to precisely determine the financial return on the time and resources spent.

Getting Started in Bitcoin Mining
There are three things that you would need before starting Bitcoin mining

1.  A digital wallet: This stores and manages any Bitcoin or other digital money you obtain.
2.  Computer equipment: To help mine Bitcoin successfully.
3.  Mining software: To truly participate in generating new currency, specific computer programs are essential. Several mining software programs exist, many of which can be downloaded and used at no cost on common operating systems like Windows or Apple computers.

Common Scams
If you’re considering starting to mine for Bitcoin, you’ll want to be careful about what software, equipment, or groups of miners you join so you don’t get scammed. Here are a few of the most common types of scams:

1.  Cloud-Based Services
Some websites claim you can sign up with them and have them do the mining work for you using their computers. Not every service like this is a scam, but you must research before handing over any money.

2.  Fake Wallets and Exchanges
When storing your crypto, only use wallet providers with a good reputation in the community. Some scammers make fake wallet sites just to steal people’s private keys. Once they have your keys, your funds are gone for good. Scammers make fake trading sites and contact people through email or social media. Then, they pressure or deceive people into sending money or cryptocurrency to the fake sites.

Endnote
Bitcoin mining is certainly not for the faint of heart. It takes serious computational power, deep technical know-how, and nerves of steel to handle the fluctuating rewards. However, it could yield fascinating rewards for those up for the challenge.

@ Newshounds News™

Source:  Blockchain Reporter

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More News, Rumors and Opinions Friday PM 10-11-2024

MikeCristo8: BRICS will Launch an Alternative to the IMF

10-11-2024

MikeCristo8 :  The BRICS unit has definitely launched.

BRICS will also launch an alternative to the IMF as the summit.

So Lavrov has been traveling the world, telling foreign heads of state that there is going to an IMF alternative for when the BRICS currency is launched.

So BRICS is launching World Bank – IMF alternatives and a whole new financial system based on gold, that will challenge the legitimacy of the US dollar

https://twitter.com/BRICSinfo/status/1844425080006377486

Source(s):
https://x.com/MikeCristo8/status/1844448841996878111
https://x.com/MikeCristo8/status/1844465322742645163
https://x.com/MikeCristo8/status/1844467144282734838
https://x.com/MikeCristo8/status/1844524075529461816

https://dinarchronicles.com/2024/10/11/mikecristo8-brics-will-launch-an-alternative-to-the-imf/

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KTFA:

Clare:  Iraq raises gold reserves to 152.6 tons, according to the World Gold Council

10/11/2024

Iraq’s gold reserves increased by 4 tons in the past two months, reaching 152.6 tons, according to a report issued by the World Gold Council. This increase places Iraq in 29th place globally among 100 countries in gold reserves, according to last month’s data.

At the Arab level, Iraq came in third place after Saudi Arabia and Lebanon, as data recorded an increase in Iraqi gold reserves from 148.3 tons to 152.6 tons.

Last August, Mazhar Mohammed Salih, economic advisor to the Iraqi prime minister, confirmed that gold represents about 10% of Iraq’s foreign currency reserves. He pointed out that the reserve had reached 148 tons at the time.

It is worth noting that Iraq recorded a gold reserve of 145 tons and 661 kilograms last February, indicating that the continuous increase reflects financial stability and stability in cash liquidity.

Globally, the United States holds the lead in gold reserves with 8,133 tons and 300 kilograms, followed by Germany with 3,351 tons and 500 kilograms, and then Italy in third place with 2,814 tons.  LINK

Alicia2015:  great to see Iraq increase gold reserves ahead of BRICS summit this month

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

Wolverine  ...What I heard is that huge Whales have received their notifications and are flying to their destination to receive their blessing...I can’t say more until I’m allowed to speak. Nothing is guaranteed in this journey but I have absolute faith that any day we are going to receive the news we’ve been waiting for... 

Frank26  [Iraq boots-on-the-ground report]  FIREFLY:
Minister of Finance on TV saying they have activated the automation and digitalization process.  FRANK:  That's important.  Digitization...is the backbone of the monetary reform.  That's what's going to move the currency in and out of the country but more so out there when it starts to float for us...That will add the Real Effective Exchange Rate to your currency.

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We Are In The ENDGAME Now...

Lynette Zang:   10-11-2024

Today we are talking about the implementation of Basel III in the central banks and how THIS is the ENDGAME...

https://www.youtube.com/watch?v=atwtjxGUZV4

The Fed Is Failing the U.S. Economy by Ignoring This Metric, Here’s What Next

Kitco News:  10-11-2024

he Federal Reserve is flying blind with its policies because it completely ignores the M2 money supply metric, says Steve Hanke, Professor of Applied Economics at Johns Hopkins University.

 "The Fed doesn't understand what it's doing, and it's not watching the money supply," Hanke tells Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News.

 "How can you be running a central bank and have a macroeconomic model that doesn't even include money? That's the one thing that central banks produce. It's kind of bizarre. Quite frankly, it's stupid, but I'll use the word bizarre and be polite."

https://www.youtube.com/watch?v=TCgiB5Pt6dw

Economist’s “News and Views” 10-11-2024

Forget $50 Silver, "$150 Is Appropriate": Mike Maloney's Bold Prediction

10-11-2024

Join Mike Maloney and Alan Hibbard as they dive deep into the ‘last great precious metals bull market’. Discover why Maloney believes silver is poised to break past $50 and soar to $150, driven by global economic factors and Russia’s strategic move to accumulate silver reserves.

They discuss the current silver chart patterns, why Mike believe’s this is the final bull market for gold & silver, the growing central bank interest in precious metals, and how the weaponization of the U.S. dollar is accelerating the decline of fiat currencies.

Don’t miss this urgent analysis as it's a must-watch for anyone looking to understand the future of silver and gold in a rapidly changing world.

https://www.youtube.com/watch?v=Bi2c2rEeLI0

Argentina's Decision Surprised the World: Will Argentina rejoin BRICS?

Fastepo:  10-11-2024

Argentine President Javier Milei's recent shift in his stance toward China highlights a practical adaptation in his political approach, potentially signaling implications for both his administration and the United States.

 Surprisingly, this statement comes from Javier Milei, Argentina’s well-known anarcho-capitalist, and not from a typical supporter of communism.

 Nearly a year into his presidency, Milei expressed unexpected appreciation for China in a recent TV interview with a local celebrity, noting his favorable impression of the country.

https://www.youtube.com/watch?v=BRtxGi78zOA

20% Of U.S. On Welfare; Household Bankruptcies Surging | Danielle DiMartino Booth

David Lin:  10-10-2024

Danielle DiMartino Booth, CEO of QI Research, discusses the state of the economy, outlook for monetary policy, and major risks to the markets today.

0:00 - Intro

0:50 - Geopolitical risks

2:45 - Reaction to Fed’s 50 bps cut

5:20 - Labor market cooling

10:31 - Foreign workers

11:33 - Bankruptcy cycle

12:50 - Fed monetary policy outlook

14:40 - Welfare

17:30 - Widening deficit

20:35 - Banks’ unrealized losses

22:30 - Declining liquidity

 26:00 - Soft vs. Hard landings

28:30 - Stocks vs. Yields

31:00 - Homes and natural disasters

32:10 - Major risks and asset allocation

https://www.youtube.com/watch?v=LUva_Lhg3xM

Coffee with MarkZ and Mr. Cottrell. 10/11/2024

Coffee with MarkZ and Mr. Cottrell. 10/11/2024

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: Hello, to all the magnificent souls all over the world

Member: The weeks are sure flying by quickly…..but maybe this 3 day weekend is the one we have been waiting for.

Member: Mark….what is the good word for today?

MZ: My top bond people are saying bonds are ready to go. They clearly said that they expect the release at any moment and they are all prepared and ready. They are just waiting for the green light.

MZ: I had another contact who said if the final paperwork for a certain series of Historic bonds is not submitted by next week- they go to the end of the line……That doesn’t mean others could not go at any time though.

Member: Sounds like a shotgun start!!

MZ: A shotgun start makes the most sense to me.

Member: Are your redemption center folks working this weekend?

MZ: I don’t know yet….waiting to find out. I do know somebody in Reno that is working on the bond side this weekend…..but the banking side has not yet checked in.

Member: I had heard that we might see something on the dinar within 36 hours

Member: Bruce is saying Monday/Tuesday.

Member: My bank in the UAE sent a notification that online services will be down on the 12th and 13th for system updates. I also received an email inviting me to open a multiple currency account…. Interesting

Member: I wonder……Does the BRICS Summit Oct. 22 have any influence on the RV timing?

Member: (From Dinar Guru) Mnt Goat   I have to start off with...some really good news, actually some WOW! WOW! WOW!  news...we can see the path now and very clearly.  So, finally we get word that Iraq has met all it requirements to join the World Trade Organization (WTO)...This DOES NOT make the RV imminent...all these recent activities and events matter and the RV is a “by product” of all these events not a singular event in itself... The view is now in sight and the writing is on the wall. So much on the wall that I do not believe anything is going to stop it short of a major disaster.

MZ: I will not argue that ….The writing is all over the wall.

MZ: “The United Nations launches from Baghdad : as Iraqi and Arab anti-corruption programs” This is for the entire region….

MZ: Meanwhile at TD bank: “TD Bank to pay $3 Billion penalty after admitting to money laundering”  bet they made more than $3 Billion through laundering it.

MZ: “The Minister of Finance says we need to adhere to timetables to achieve Economic Reforms” He is pointing out they have done an exceptional job but want to speed things up. Part of those economic reforms is an increase in the purchasing power.

Member: MORE economic reforms... almost like they are PREPARING for something

MZ: And they are modernizing their stock market. It has been a booming success.

​​Member: How close do you really think we are weeks, months and years.. in your honest opinion

Member: I am still watching for a system crash and new asset backed money

Member: I am still waiting on the election to be over.

Member: Maybe the RV will start and finish for a great Christmas for all

Member: if everything goes at once….like a new financial system, new asset backed money, and a reset of currencies….that makes sense to me.

Member: Some people say no RV until March…..ugh

Member: They are talking about Nesara I believe….not the RV.

Member: My perception on the March reference is that we will be seeing the results of the RV by then and what it has done for everyone because all of the humanitarian projects that will be visibly working

Member: This movie is the suckage level of 10 Hoover’s!!!

MZ: I think it might be more than that….lol

Member: The movie is called Idiocracy. It’s not supposed to be a documentary. Lol

Member: The white hats need to do something significant to make us believe again!!!!!

Member: God bless everyone in here and don’t stop praying

Member: It's a Good Day to get Wealthy!!! Come on RV!!!

Member: Have a wonderful Columbus Day Weekend……..and let’s go RV!!!!!!!

Member: let's all stop hoping and start believing that the RV will happen.

HAVE A GOOD DAY ALL! JOIN ZESTER AT 5:00 PM EST! LATER ALL!

Mr. Cottrell joins the stream today. Please listen to the replay for his opinions and infrmation

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.

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

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Seeds of Wisdom RV and Economic Updates Friday Morning 10-11-24

Good Morning Dinar Recaps,

XRP NEWS : RIPPLE CTO DROPS BOMBSHELL AMID RLUSD LAUNCH – IS XRP AT RISK?

▪️RLUSD launch raises questions about XRP’s significance in cross-border payments.

▪️XRP offers no counterparty risk, unlike stablecoins, strengthening its position on XRPL.

▪️Experts predict XRP could rise to $2.47-$10, pending favorable market and legal outcomes.

As Ripple prepares to launch its RLUSD stablecoin, some XRP community members are worried about its impact on XRP’s importance. RLUSD, currently in beta testing and set to launch soon, will be available on the XRP Ledger (XRPL) and Ethereum and may support Ripple’s On-Demand Liquidity (ODL) in some capacities.

Despite this promising application, some supporters wonder if RLUSD could reduce XRP’s importance, especially for cross-border payments.

Ripple’s CTO Stands Firm on XRP’s Role
David Schwartz, Ripple’s CTO, responded to these concerns, clarifying that XRP has special functions on the XRPL that RLUSD cannot replace. For instance, only XRP can pay for transaction fees on the XRPL, and each account on XRPL must hold some XRP as a reserve. He added that XRP’s biggest edge over stablecoins is its lack of counterparty risk and freedom from jurisdiction limits, unlike any stablecoin.

Schwartz also highlighted XRP’s “autobridging” feature, which automatically connects liquidity between different assets on the XRPL, making XRP an essential tool in the ecosystem.

Schwartz noted that XRP’s role is more than just a transaction token; it’s also a bridge asset, helping with transfers between digital assets.

Will RLUSD Compete with XRP?
Schwartz acknowledged that if RLUSD or other stablecoins become more efficient, XRP could face competition. However, he believes that XRP’s unique features make it difficult for stablecoins to fully take its place.

Community Suggestion On XRP
Some XRP community members suggested raising transaction fees or the minimum XRP balance on XRPL to increase XRP scarcity and boost its value. Ripple’s CTO, David Schwartz, explained that such changes would need community consensus & noted that the XRPL should prioritize usability over speculative value.

Ripple’s exploration of new features, like the EVM sidechain and smart contracts, aims to expand XRPL’s functionality while ensuring XRP’s critical role remains irreplaceable.

Will the XRP Price Surge?
As of now, XRP is trading at $0.53, down 0.8%, but there are mixed signals about its future. A bullish pennant pattern on the weekly chart suggests that XRP might break out soon.

However, the 14-day Relative Strength Index (RSI) is at 37.96, showing it is close to being oversold, which could lead to a small price increase. If legal challenges are resolved, some experts believe XRP could rise significantly, with price targets between $2.47 and $10 in a strong market.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

NEW INDUSTRY BILLIONAIRES: US REGULATORS RECEIVED OVER $32B FROM CRYPTO COMPANIES

U.S. regulators have imposed $32 billion in fines on crypto companies to resolve compliance disputes. Who did they make the most money from?

Of the total, a record $19.45 billion came in 2024. This is due to the $12.7 billion payment to FTX and Alameda Research. In August, Judge Peter Castel ruled that the firms must pay, jointly and severally, $8.7 billion in restitution to those who suffered losses. In addition, the agreement calls for a $4 billion fee to be paid in return for the ill-gotten gains.

The settlement with Terraform Labs brought regulators $4.5 billion in 2024. The firm will pay about $3.59 billion in interest and a fine of $420 million. Its founder, Do Kwon, will pay $204.3 million in interest, fines, and compensation and must accrue at least the same amount to the “bankruptcy estate,” which will be distributed among investors.

Among the most significant fines were Binance’s $4.3 billion and Celsius’s $4.7 billion, which occurred in 2023. As part of the case, the largest crypto exchange was ordered to pay a fine of $1.81 billion in a criminal case and will lose $2.51 billion in compensation.

“The leading global crypto exchange agreed to plead guilty in November 2023, to resolve lawsuits with multiple U.S. regulators including the Department of Justice (DOJ), Treasury Department and the Commodity Futures Trading Commission (CFTC).”      From the CoinGecko report

As for the Celsius fine, in 2023, the U.S. Federal Trade Commission announced a settlement against the Celsius Network. As part of the agreement, Celsius and its subsidiaries were prohibited from offering, selling, or promoting any product or service that may be “used to deposit, exchange, invest, or withdraw any asset.”

Terra was the catalyst for the bear market, followed by the bankruptcy of Celsius, and culminated in the collapse of FTX in November 2022. Of these crypto platforms, only Binance remains operational, remaining the largest centralized exchange by trading volume.

However, the sharp increase in recovery amounts occurred in 2023, when the total amount of settlements for claims by U.S. government agencies amounted to $10.87 billion across eight cases.

@ Newshounds News™

Source:  Crypto News

~~~~~~~~~

UYEDA: SEC’S CRYPTO APPROACH A ‘DISASTER FOR THE WHOLE INDUSTRY’

In a candid interview on Fox Business’s Mornings with Maria, SEC Commissioner Mark Uyeda sharply criticized the agency’s handling of crypto, acknowledging that its current strategy has been “a disaster for the whole industry.”

Uyeda’s remarks come amid mounting legal challenges, including a fresh lawsuit filed by Crypto.com against the U.S. Securities and Exchange Commission following the issuance of a Wells notice.

Crypto.com’s lawsuit alleges that the SEC has overstepped its jurisdiction by enforcing regulations on the cryptocurrency market without issuing clear regulatory guidance. The Wells notice — a formal communication from the SEC indicating that enforcement action is likely — accused Crypto.com of operating as an unregistered broker-dealer and securities clearing agency due to its handling of tokens that the SEC deems securities.

Uyeda’s critique of the SEC’s approach highlights a growing frustration within the agency and the wider crypto industry.

“We have been sending this ‘policy through enforcement,’” Uyeda stated, referring to the SEC’s practice of targeting companies with legal actions without offering explicit guidance on how they should operate within existing regulations. “We’ve done nothing to provide guidance on it,” he continued. “And as a result, this has been shaped by the courts. And different courts have ruled in different ways.”

Indeed, the SEC’s reliance on enforcement has led to legal battles, including a high-profile case against Ripple Labs.

The courts have often delivered mixed rulings, adding to the uncertainty for crypto firms. While the SEC recently lost a major ruling to Ripple XRP regarding the classification of XRP tokens, the agency has already filed an appeal, signaling that these legal struggles are far from over.

Crypto firms are fighting back
Crypto.com’s lawsuit is just the latest in a series of legal confrontations between the crypto industry and the SEC. The lawsuit, sparked by the Wells notice, argues that the agency has been regulating beyond its mandate. Crypto.com’s leadership insists that legal action is necessary to protect the future of cryptocurrency innovation in the United States.

Mark Uyeda refrained from commenting directly on the Crypto.com litigation, but he emphasized the broader issue of the SEC’s failure to offer clarity. “We have not provided interpretive guidance as to what you can and cannot do,” Uyeda said, adding that the lack of clear rules has left companies guessing about how to comply with securities laws.

Uyeda’s comments also touched on the SEC’s broader regulatory philosophy, particularly in relation to environmental, social, and governance mandates. He criticized the agency’s focus on ESG issues, suggesting that such efforts often stray from financial relevance.

“It is about micromanaging a lot of what corporations are doing on things that have absolutely no financial purpose,” he said, adding that financial regulators should not be vehicles for social change.

@ Newshounds News™

Source:   Crypto News

 ~~~~~~~~~

🌍 THE CONSTITUTION FRIDAY NIGHT CALL WITH SEEDS OF WISDOM TEAM  |  Youtube

 Join us for a LIVE CALL tonight in the Constitution room at 8 pm ET, 7 pm CT

Find previous calls on our Youtube Channel here:  The Constitution on Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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News, Rumors and Opinions Friday AM 10-11-2024

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 Fri. 11 Oct. 2024

Compiled Fri. 11Oct. 2024 12:01 am EST by Judy Byington

Judy Note: To add to our concerns a Global Financial Collapse was unfolding that was caused by the Cabal. Although, a Quantum Financial System was already fully operational that would soon trigger the biggest wealth transfer in the history of the World.

All in preparation for a gigantic Worldwide Black Swan Event and NESARA/GESARA Revolution to transfer wealth from the Cabal back to The People.

An Emergency Broadcast System Worldwide Alert was Imminent.

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

Possible Timing:

On Wed. 9 Oct. 2024 BRICS 12 Countries Ditched US Dollar, Pay 85% Trade in Local Currencies: https://watcher.guru/news/brics-12-countries-ditch-us-dollar-pay-85-trade-in-local-currencies

Mon. 14 Oct. 2024 marks a key date. The old banking system—Bank of America, Deutsche Bank and JP Morgan— were about to collapse. The QFS will take over as stock markets crash. The elites can’t stop it.

~~~~~~~~~~~

Global Currency Reset:  (Opinions/Rumors)

Thurs. 10 Oct. 2024 Wolverine: “The process has defiantly started. There are around 40 million emails that will be sent out by Wells Fargo so you can set your appointments. It is expected to happen within the next few days and defiantly within this month.”

Wed. 9 Oct. 2024 TNT: “The Dinar International Rate on bank screens is $3.91. It won’t drop below $3.57. The banks have a hold on it. They have designated a time for it to happen. The window opens at 2pm EST today and could be in the next 72 hours or through the rest of the week.”

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

Thurs. 10 Oct. 2024 Bruce:

A source who is the liaison for all Redemption Centers east of the Mississippi informed Bruce that by noon on Mon. 14 Oct. 2024 all Redemption Centers liaisons like him will receive a Wells Fargo email that contains exchange instructions. They will have until 5 pm that Mon. 14 Oct. to get that email out to all Redemption Center Heads under them.

On Tues. 15 Oct. Tier 4b (us, the Internet Group) will receive emails from Wells Fargo telling us how to make redemption appointments.

On Wed. 16 Oct. Tier4b can start their appointments.

Exchange appointments will be held for 40 to 50 days and go well beyond the end of October.

On Fri. 11 Oct. Bond Holders are to be notified through email from Wells Fargo as to when they can gain access to their accounts – which will likely be on Tues. 15 Oct.

We could have NESARA/GESARA announcements on Mon 14 Oct, Tues 15 Oct, or Wed 16 Oct.

Wed. 16 Oct. is a celebration day for Iraq and the day they will pay their contractors.

Redemption Centers, not banks, will give you the highest rates.

Wed. 9 Oct. 2024: MILITARY INTEL! Global Strategic Impact: Starlink’s Military Applications, RVs & GESARA, and the Quantum Financial System – amg-news.com – American Media Group

Thurs. 10 Oct. 2024: BREAKING! Global Collapse Unfolding NOW – QFS Fully Operational and White Hats Ready to Liberate Us From the Elite’s CBDC Scam and Trigger the Biggest Wealth Transfer Ever! – Gazetteller

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

Global Financial Crisis:

Thurs. 10 Oct. 2024: Bitcoin falls under $59,000. Dow Jones and S&P fall dramatically down into the red as inflation report is released.

Thurs. 10 Oct. 2024: Russia calls on it’s BRICS partners to create an alternative to the International Monetary Fund.

Read full post here:  https://dinarchronicles.com/2024/10/11/restored-republic-via-a-gcr-update-as-of-october-11-2024/

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

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

Mnt Goat   I have to start off with...some really good news, actually some WOW! WOW! WOW!  news...we can see the path now and very clearly.  So, finally we get word that Iraq has met all it requirements to join the World Trade Organization (WTO)...This DOES NOT make the RV imminent...all these recent activities and events matter and the RV is a “by product” of all these events not a singular event in itself... The view is now in sight and the writing is on the wall. So much on the wall that I do not believe anything is going to stop it short of a major disaster.

Militia Man  The council of Ministers, who we've been talking about a lot have been in the news with Al Sudani.  He had two COM meetings in one day, which is unheard of...You can see where this is headed ... What they're painting a picture of is Iraq is imminently going into the international world.

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

BRICS Preparing for Impending Currency Collapse | Alasdair Macleod

Liberty and Finance:  10-10-2024

Alasdair Macleod discusses the impending global financial upheaval and its potential impact on currencies worldwide, including the Euro, Yen, and Sterling.

He emphasizes the urgency for individuals to convert credit into gold, which he regards as "real money" despite governmental skepticism.

Macleod highlights the significance of the upcoming BRICS summit, noting that countries outside the traditional financial system are exploring alternatives to the U.S. dollar, potentially backed by gold.

He warns of a looming crisis where fiat currencies could collapse, drastically reducing purchasing power for everyday people in the West.

Overall, he urges listeners to be proactive in safeguarding their financial future amidst these turbulent changes.

INTERVIEW TIMELINE:

0:00 Intro 1:25 BRICS Meeting

21:30 Currency collapse

33:42 Silver's fundamentals

https://www.youtube.com/watch?v=i_LJkQ8E_Ds

“Tidbits From TNT” Friday Morning 10-11-2024

TNT:

Tishwash:  We will not wait for companies, we will act

Baghdad reaches an understanding with the Doha Stock Exchange: Iraqi shares will be able to be traded in Qatar as well

The Iraqi Securities Commission revealed a project with the Qatar Stock Exchange that will allow for the joint establishment of companies, leading to “dual listing” that will allow the listing of Iraqi shares in both the Iraqi and Qatari markets.

The commission member, Wadah Al-Taha, said that it will not wait for major and promising companies to list their shares on the Iraqi Stock Exchange, but will form a committee to encourage those companies. He pointed out that expanding the Iraqi Stock Exchange requires the listing of government sector companies on the stock exchange.

Waddah Al-Taha - Member of the Board of the Securities Commission, in an interview with the media figure, Dhikrayat Muhammad:

Expanding the work of the Iraq Stock Exchange requires restructuring mixed companies, through the government sector relinquishing its shares and listing and offering them for investment, while we work on listing public government companies.

Usually, stock markets around the world represent a mirror of a country’s economy, but in Iraq, the stock market does not reflect the economy, for several reasons, including the weakness of the investment culture, the decline in government support and understanding, in addition to the fact that the importance of listing and initial public offerings is unclear to private sector companies.

We seek to “deepen” the Iraqi Stock Exchange, meaning diversify its sectors participating in the subscription, with the aim of reducing the ceiling of investment risks and creating relative attractiveness for investors. We are currently working on merging our governance draft with the draft of the International Finance Corporation to give a global character to our investment environment and send reassuring messages to foreign investors.

Instead of waiting for promising emerging companies to come to the Iraqi market for listing, we are currently working on forming a specialized committee to move towards such companies and reach an understanding with them in order to list their shares in the market. The criteria for selecting the targeted companies revolve around performance, financial efficiency, company history, sector quality, and management nature.

We have a memorandum of understanding with the Qatari side, and we hope to approve it during the coming period. It has very good content, as it allows us to establish companies jointly, and we aspire to reach the stage of “dual listing” where the Iraqi stock can trade in the Iraqi and Qatari markets, in addition to applying the regulatory standards in effect there.

We apply a high level of “global standard” procedures in terms of combating money laundering. The market is very safe in this regard. Our standards are sometimes harsh and restrictive for investors, but they ensure that there are no illegal financial activities.  link

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

Tishwash:  Trade Bank of Iraq announces the number of transfers completed since the launch of the Central Bank platform

The Trade Bank of Iraq announced today, Thursday, that it has transferred more than 4,000 remittances since the launch of the Central Bank platform.

The bank's media advisor, Aqil Al-Shuwaili, said in a statement to the Iraqi News Agency (INA): "More than four thousand various transfers have been transferred to companies and individuals since the launch of the Central Bank of Iraq platform until today, October 10, 2024."

He added, "250 transfers were transferred from the Iraqi bank to the relevant authorities, including commercial, industrial, and even educational transfers  link

***********

Tishwash:  Minister of Finance stresses the need to adhere to timetables to achieve economic reforms

 Finance Minister Taif Sami Mohammed stressed, on Thursday, the need to adhere to timetables to achieve economic reforms.

A statement by the ministry, seen by Al-Eqtisad News, stated that "Minister of Finance Taif Sami Mohammed chaired a meeting to follow up on the implementation of the government program related to financial, economic and digital affairs, where she reviewed the latest developments in the plans and procedures adopted by the government to achieve economic and financial reforms and discussed the challenges facing the implementation of the program."

The minister stressed, according to the statement, "the importance of adhering to the specified timetables and achieving the desired goals in enhancing economic stability."

The statement added that "the meeting addressed the most prominent economic and financial indicators, and reviewed the results of the reforms that have been completed so far, in addition to discussing ways to accelerate the pace of reform in vital sectors. Sami stressed the need for cooperation between all parties to achieve sustainable development and improve the standard of living for citizens."

The statement concluded by saying that "the minister urged the concerned parties to continue working hard and intensifying efforts to ensure the success of the reform program and achieve sustainable economic growth   link

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

Tishwash:  Very frank” talk from Al-Sudani’s advisor: They will bomb us and we will be strategically patient like Iran

"A new map is coming, whether we like it or not."

Ibrahim al-Sumaidaie, advisor to Prime Minister Mohammed Shia al-Sudani, said that the new regional map in the region “is happening, whether we like it or not,” and therefore it is necessary to invest in Iraq’s role, as it ranks second in the United States’ interests after Israel, warning that “the one who falls will fall, and do not let us fall.”

The advisor pointed out that Tel Aviv launching a strike inside Iraq instead of Iran is possible and is the most likely scenario, especially if it fails to reach an understanding with Tehran. He said that Iraq is an unarmed country and cannot do anything other than political diplomatic options due to the clear Western superiority, “even the Russian S-400 anti-aircraft missiles were unable to repel the Kremlin’s missiles.”

He criticized the actions of “some brothers who are gnawing at al-Sudani’s flanks, even though he defends them before the United States and tries to prevent a strike against Iraq.” He called for Iraq to adopt the Turkish method in dealing with the risks of war, as well as the Iranian method “which invented the policy of strategic patience.”

He concluded by saying, “The West sees us as a successful country (..) All the Americans want is for us to be an economic zone not subject to Russian military influence, or Chinese economic influence, without the existence of (sub-state) as this world is ruled by states and not armed groups, and the majority of the political forces supported by the reference are with this trend.”  link

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

Mot: Folks on da INternet can beee soooo Helpful at times!! – LOL

Mot: ... Finally  cobwebs now are Halloween decorations

America Is Now On “The Second Half Of The Chess Board”

America Is Now On “The Second Half Of The Chess Board”

Notes From the Field By James Hickman / Simon Black October 10, 2024 

Over fifteen centuries ago, according to an ancient Sanskrit legend, a mythical Hindu priest named Sissa was ordered to invent a new board game to entertain the king of Taligana.

Sissa labored over the task for quite some time, but he eventually brought the King a military strategy game with a 64-square board and beautifully hand-carved pieces. Today we call this game chess. And according to the legend, the King was absolutely enamored with it.

So enamored, in fact, the King offered Sissa any reward he desired. So, the priest asked for a single grain of wheat to be placed on the first square of the chess board. Then two grains on the second square. Four grains on the third. Eight grains on the fourth. And so on.

The King of Taligana thought the request to be humble and cheap. After all, a little bit of wheat was nothing compared to the endless entertainment of this new game. So, he ordered his men to bring in the grain.

But as they continued counting, the numbers began to grow quickly.

One-quarter of the way through the board (sixteen squares), Sissa was owed around 131,000 grains-- roughly four kilograms of wheat. No big deal.

But with every square the amount kept doubling. Halfway through the board Sissa is owed over 8 billion grains-- about a quarter of a million TONS of wheat. And it keeps doubling from there.

By the final square, the amount of grain owed is far more than all the wheat that the world can possibly produce.

This is known in mathematics as exponential growth, i.e. when something grows at a faster and faster rate. Sort of like my kids. Or more ominously, the US national debt.

According to data just released by the federal government, interest on the national debt for Fiscal Year 2024 (which just ended last Monday, September 30) was roughly $1 TRILLION.

That’s just the interest bill.

And while that number itself is simply astonishing, it’s even more important to put it in context. $1 trillion is significantly more than the government spends on virtually EVERY other line item, including the military and Medicare.

In fact, Social Security is the ONLY federal program whose budget exceeds interest on the debt. For now. But within the next 5 years, interest on the debt will surpass even Social Security.

Just going back to FY 2020— which started pre-pandemic on October 1, 2019— the interest bill that year was “only” $345 billion. And in FY21, it only rose to $352 billion. That was just a $7 billion, or 2%, increase. No big deal.

But in FY 2022, it took a more significant jump to $475 billion. Then $660 billion. And now a TRILLION dollars.

So not only is the interest bill increasing, but the rate at which it is increasing… is increasing.

Just like grains of wheat on a chessboard, this is an exponential problem. At first it looks manageable. Even paltry. But around halfway through the chessboard, the problem starts to spiral out of control very quickly.

Technologist and author Ray Kurzweil actually refers to this phenomenon as “the second half of the chess board”, i.e. the part of the exponential growth model where the problem becomes too big to solve.

How did the most powerful nation in the history of the world reach this point?

For starters, a complete lack of discipline when it comes to federal spending. For decades now, the government has spent money as if there were no limit and would never be any consequences to increasing the debt.

This was most noticeable during the pandemic when they (and the media) engineered widespread fear and hysteria, shut down the economy, and then spent trillions of dollars to keep everyone afloat.

The national debt skyrocketed as a result. But at the time, interest rates were practically zero. So, the government’s borrowing costs were pretty negligible. That’s why the annual interest bill barely moved between FY2020 and FY2021.

But as you probably recall, rates soared in 2022. And so did the government’s interest bill.

Each year, in fact, much of the existing national debt matures; money that the Treasury Department borrowed five or ten years ago becomes due and must be paid back.

Naturally, the Treasury Department doesn’t have any money to pay back its lenders. So instead, they issue new debt to repay the old debt.

The problem, of course, is interest rates. The money they borrowed years ago was at 0% or 1%. Today it’s 4%.

Just this past Fiscal Year (2024) the Treasury Department refinanced roughly $5 trillion in debt at significantly higher interest rates… in ADDITION to the $2 trillion in NEW debt that they borrowed.

This means that NEXT YEAR’s interest bill will likely be even HIGHER.

You can see how this problem can quickly become a crisis. Again, five years ago the annual interest expense was $345 billion. Five years from now it could easily be $2 trillion.

Sure, the government’s overall tax revenue is also increasing. A bit. But the interest bill is growing much faster-- at an exponential rate. You can’t have linear growth in your revenue and exponential growth in a major expense and expect to survive.

It appears that the US government has crossed the proverbial Rubicon into the second half of the chessboard. And their options are extremely limited.

On one hand, the government could slash spending, reform entitlement programs (like Social Security, welfare, etc.), and engage in a massive deregulation effort to boost economic productivity. But I’m not holding my breath.

Their other approach will be to increase taxes and print tons of money to keep interest rates artificially low.

This is already starting to happen.

The government released its new inflation data just this morning showing that core inflation is STILL on the rise. Inflation is not beat by a long shot. And yet the Federal Reserve is going full steam ahead in its rate cutting cycle.

Fed officials aren’t stupid. They know that 0% interest rates are the only hope for the US government’s financial survival.

And the chief consequence, of course, will most likely be some pretty nasty inflation.

This is why we keep saying that real assets make so much sense, i.e. crucial materials like metals, energy assets, and productive technology that are (1) useful and critical in the economy, and (2) cannot be created out of thin air by central banks or governments.

Historically, real assets perform extremely well and hold their value during inflationary times.

And the added benefit is that, right now, many of the businesses which produce real assets are at historically cheap levels. We’ll show you a great example tomorrow.

To your freedom,   James Hickman  Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/trends/america-is-now-on-the-second-half-of-the-chess-board-151643/

Seeds of Wisdom RV and Economic Updates Thursday Evening 10-10-24

Good Evening Dinar Recaps,

SEN. HAGERTY'S STABLECOIN REGULATION DRAFT AIMS FOR CLARITY, ECHOES HOUSE BILL FRAMEWORK

▪️The draft closely resembles the Clarity for Stablecoins Act worked on in the House of Representatives by Rep. Patrick McHenry, R-N.C., and Maxine Waters, D-Calif.

▪️“It is Senator Hagerty’s version of McHenry-Waters,” spokespeople for Sen. Hagerty said in an emailed statement to The Block.

Crypto-friendly Sen. Bill Hagerty unveiled a discussion draft of legislation to create a regulatory framework for stablecoins that is very similar to work being done in the House of Representatives.

The Tennessee Republican said his draft legislation "provides much-needed clarity" in a statement on Thursday. The draft closely resembles the Clarity for Payment Stablecoins Act worked on in the House of Representatives by Rep. Patrick McHenry, R-N.C., and Maxine Waters, D-Calif.

“It is Senator Hagerty’s version of McHenry-Waters," spokespeople for Sen. Hagerty said in an emailed statement to The Block. Hagerty also is a member of the Senate Banking Committee, which has jurisdiction over key agencies, including the U.S. Securities and Exchange Commission.

Sen. Hagerty's draft bill takes the structure of the House bill while also splitting federal supervision between the Federal Reserve for banks and the Office of the Comptroller of the Currency for non-banks, his spokespeople said.

Hagerty's draft bill would include a provision that says issuers that go over a $10 billion threshold may get a waiver from their federal regulator to then stay under their state's jurisdiction. 

The draft legislation also includes language around maintaining reserves on a one-to-one basis with reserves that have U.S currency.

“Stablecoins have the potential not only to enhance transactions and payment systems, but also to help create new demand for U.S. Treasuries as we work to address our unsustainable deficit,” Sen. Hagerty said in the statement. “For too long, these benefits and the broader promise of stablecoins have been hindered by the lack of clear regulations."

Negotiations around passing a stablecoin bill have been complicated over the last few years on Capitol Hill. House Financial Services Chair McHenry and the top Democrat of that committee, Rep. Waters, have been working on their bill to create a regulatory framework for stablecoins since 2022. 

The bill advanced out of the Republican-led committee last year but has not gained much traction. At the time, Waters called the bill "deeply problematic" due to a provision that allows state regulators to approve stablecoin issuances without Federal Reserve input.

However, tables might have turned last month during a congressional hearing when Rep. Waters said she wants to "strike a grand bargain on stablecoins" before the end of the year.

Waters said the bill needs to place the Federal Reserve in a "dominant role" and that stablecoins must be backed by safe reserves, such as short-term Treasury bills.

"I've made a public statement to you about bipartisanship — let's see what you do with it," Waters told McHenry in late September.

Cody Carbone, president at The Digital Chamber said the advocacy group was “encouraged” by the release of the draft legislation.

“While the window for passage in this Congress is limited, Senator Hagerty’s efforts have revitalized the discussion,” Carbone said in a statement to The Block.

“The push for a U.S. stablecoin regulatory framework is bipartisan, and we urge lawmakers to prioritize this important, common-sense legislation through the end of the year.”

Ron Hammond, director of government relations at the Blockchain Association said Sen. Hagerty’s draft was “an important development” especially after comments made by McHenry and Waters to move forward stablecoin legislation before the end of the year.

“While the election results will largely determine what is in the realm of possible for the lame duck, it is likely the Republicans will take back the Senate and this effort from Sen Hagerty could be the starting point for a Republican led Senate Banking Committee in 2025 should stablecoins not get addressed in the lame duck,” Hammond said in a statement to The Block.

Update: Oct. 10 , 10:15  p.m. UTC to include comments from Carbone and Hammond

@ Newshounds News™

Source:  The Block

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RIPPLE NEWS: COULD GARY GENSLER’S RESIGNATION OR REMOVAL LEAD TO A DISMISSAL OF THE RIPPLE-SEC LAWSUIT?

The U.S. SEC has filed an appeal in its case against Ripple, after a federal judge ruled that the SEC did not prove Ripple violated securities laws by selling XRP to retail customers.

The SEC’s appeal, submitted to the Second Circuit Court of Appeals, argues that the judge’s decision contradicts established Supreme Court precedents and securities laws.

As we look ahead, several factors could influence the ongoing legal battles in the crypto space. With an election approaching, potential changes in leadership could  impact the SEC’s direction. If Donald Trump wins, the current dynamics could shift dramatically.

There’s widespread concern about how ongoing litigation is driving innovation out of the United States. According to James Murphy aka MetaLawMan, this situation could lead to one of two outcomes: either Gary Gensler resigns or is removed from his position, replaced by someone less hostile towards crypto. A new leader might prioritize settling or dismissing cases rather than pursuing aggressive actions against the industry.

James said that the upcoming presidential election’s importance for cryptocurrency regulation. He noted that Kamala Harris recently couldn’t identify any mistakes the Biden Administration made regarding crypto, despite ongoing efforts—dubbed “Operation Choke Point 2.0″—to restrict the industry.

It’s also worth noting that there’s legislation in the works that could clarify jurisdiction over cryptocurrency, suggesting that it might be impractical for judges to decide these matters without clear guidelines from Congress. Given this landscape, there’s a greater than 50% chance that we could see changes that alter the course of these cases.

He added that influential figures like Mark Cuban and Anthony Scaramucci suggest changes might be on the horizon, but he’s doubtful. With the election just weeks away, he pointed out that the administration could easily request Gary Gensler’s resignation, and typically, such requests are complied with. However, he expressed frustration that no actions have been taken yet.

@ Newshounds News™

Source:  Coinpedia

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BRAZILIAN AUTHORITIES LAUNCH OPERATION TARGETING ENTITIES FACILITATING CRYPTO MONEY LAUNDERING

The Brazilian Federal Police launched Operation Alcacaria this Wednesday, aiming to thwart the action of a network focused on providing money laundering services using cryptocurrency. The operation involved 62 search warrants, 13 arrest warrants, and the seizure of funds of the involved entities in banks.

Brazilian Authorities Execute Operation Alcacaria Against Crypto Money Laundering Actors
Brazil is strengthening measures against institutions leveraging crypto to complete financial crimes.

Local media reported that the Brazilian Federal Police launched Operation Alcacaria on Wednesday, targeting several financial operators that provided money laundering services to criminal organizations nationwide.

The operation was executed jointly with the Federal Revenue Service. The still unnamed organizations targeted by the police are being investigated for their involvement in money laundering, currency evasion, the operation of an illegal financial institution, and the use of false documents.

In addition, the police are also tracking and investigating exchanges that would also be working with these operators, providing them with digital asset liquidity for money laundering activities. However, no names have been shared publicly.

On this, the Federal Police stated:

These money launderers are allegedly responsible for currency evasion and money laundering for a variety of crimes throughout Brazil, in a practice known as crypto-cable.

The operation was launched simultaneously with a similar initiative called Operation Privilege, which also shared some suspects with this one. 13 preventive arrest warrants and 20 search warrants were issued as part of Privilege, which has a regional anti-crime force at its helm, the Rio Grande do Sul Organized Crime Task Force.

Last month, Brazil also executed Operation Niflheim, a high-level crackdown on three organizations that had laundered almost $10 billion using crypto, sending these funds to countries like the U.S., the United Arab Emirates (UAE), Hong Kong, and China. This makes Alcacaria the last of three actions launched against cryptocurrency-based money laundering crime in Brazil in less than one month.

@ Newshounds News™

Source:  Bitcoin News   

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5 Essential Books and Resources for Financial Planning Enthusiasts

5 Essential Books and Resources for Financial Planning Enthusiasts

Laura Bogart  Wed, October 9, 2024   GOBankingRates

You might think that you need an expensive education, or at least hours of formal training, to become knowledgeable about financial planning. And who has time for all of that, especially if you’re locked in to your current job, your family life and your other responsibilities?

However, you don’t have to spend hundreds of dollars on financial planning certifications, or even head back to school to learn more. After all, you’re reading this GOBankingRates article, hoping to learn more about personal finance issues that are relevant to you and your loved ones and explore the worlds of smart saving and growing your wealth.

There are myriad resources out there that can help you boost your own financial literacy at very little personal cost, from books you can check out from your local library to podcasts that will inspire you on your next long walk.

GOBankingRates talked to some financial planners and professionals to get their recommendations for the books and resources that are essential to your financial growth.

Earning passive income doesn't need to be difficult. You can start this week.

‘The Total Money Makeover’ by Dave Ramsey

Tyler Meyer, CFP, founder of Retire to Abundance, recommended this popular title by Dave Ramsey as a terrific entry point for people who need a plainspoken and practical approach to money management. This book focuses on paying off debt, building an emergency fund and living on a budget.

“His ‘Baby Steps’ strategy breaks personal finance down into easy-to-follow stages, making it less overwhelming for people who are just starting out,” he said. “While his advice is more rigid than some other approaches, especially when it comes to debt, the fundamentals of disciplined budgeting and saving are timeless.”

 ‘Simple Wealth, Inevitable Wealth’ by Nick Murray

Meyer also suggested that people hoping to rethink their relationship with wealth and money check out this title by Nick Murray. According to Meyer, the book is powerful because it emphasizes the mindset behind wealth building rather than just the financial strategies alone. The author focuses on a message that long-term investing and staying the course are important, as is understanding that accumulating wealth is all about patience and perseverance.

“His insights into human behavior and how it impacts investing make this a must-read for anyone serious about growing their wealth. It’s particularly relevant for those nearing or in retirement, as it helps readers see the bigger picture of how time in the market creates success,” Meyer said.

TO READ MORE:  https://finance.yahoo.com/news/5-essential-books-resources-financial-180234829.html

Iraq News Highlights and Points To Ponder Thursday Evening 10-10-24

Who Will Stop The "Collapse Of The Dinar"? Dollar Prices Continue To Soar In Iraqi Markets

Economy |Baghdad Today - Baghdad   The dollar exchange rates continued to rise in local markets today, Thursday (October 10, 2024). Baghdad Today correspondent said that the exchange rates in the main stock exchange in the capital, Baghdad, recorded a selling price of 154,500 dinars for every 100 dollars, while the buying price was 153,250 for every 100 dollars.

He added that the selling price of the dollar in Erbil reached 153,800 dinars, while the purchase price reached 153,600 dinars for every 100 dollars.

He pointed out that the selling price of the dollar in Basra reached 153,500 dinars, while the purchase price reached 153,250 dinars for every 100 dollars.

The exchange rate of the dollar against the Iraqi dinar witnessed a noticeable increase during the past few days, as the selling price exceeded 153 thousand for every 100 dollars.   LINK

TBI Moves On Dollar Prices

Economy  2024-10-09 | 10,062 views  Sumerian News – Economy   The Trade Bank of Iraq (TBI) announced today, Wednesday, that it has taken a series of measures to support the stability of the exchange rate and prevent exploitation by speculators.

The Director of the Tahrir Branch of the Iraqi Bank, Yarab Al-Hashemi, said in a statement received bySumerianNews, "The bank's management has taken a series of measures to stabilize the exchange rate and prevent market manipulation, including increasing working hours at the bank's branches, which has had an impact on the speed of completing merchants' transactions, the smoothness of financial transfers, and eliminating the momentum that has been created in this regard."

He added, "There is a series of measures being taken successively that will have a clear impact on controlling the exchange rate, preventing speculators, and limiting the granting of dollars to the beneficiaries exclusively."

Prime Minister Mohammed Shia al-Sudani directed to intensify inspection procedures in financial transfer operations and not to be lenient or lenient in pursuing speculators who exploit the crises the region is going through to achieve personal profits and benefits at the expense of the public interest of the country.   LINK

How Prepared Is Iraq For An Expected "Cyber Strike"?

Baghdad Today – Baghdad  Cybersecurity expert Ali Al-Zubaidi commented on Wednesday (October 9, 2024) on Iraq’s readiness for any expected “cyber” strike during the next phase.

Al-Zubaidi told Baghdad Today, "Iraq has done its best to provide an electronic firewall against cyber attacks, but what it has is not enough due to the weakness of both the electronic and human infrastructure."

He added, "These structures are still weak and incomplete and can be easily penetrated. If Iraq is exposed to a cyber attack, its security and military institutions, sovereign ministries, banking information, civil and passport departments, airports, and all institutions that have been subjected to the automation system will be penetrated."

He warned that "this in itself will create confusion and chaos in the work of these institutions, and the limits of the resulting damage cannot be imagined, as it is determined by the limits of what the attacker can do or achieve, and what he aims to achieve through his attack, but in all cases the damage will be great."

Cybersecurity is the fifth domain of contemporary warfare, and the loophole through which one can access the positions of all countries and societies, if they are not constantly maintained, in accordance with digital developments.

However, in Iraq, the International Telecommunication Union’s Global Cybersecurity Index still ranks it 107th globally and 13th in the Arab world, despite the availability of many of the country’s main infrastructures, including technologies and skills, among the country’s competent authorities, according to experts.

Successful cybersecurity takes a specific approach that typically consists of multiple layers of protection deployed across the computers, networks, software, or data that one intends to keep safe. In any organization, users, processes, and technology must complement each other and work together to create an effective defense against cyber attacks.

On September 13, the National Security Service announced the launch of the first cybersecurity platform in Iraq.

The agency said in a statement received by "Baghdad Today", "Security and military operations alone are not sufficient to confront the phenomena that threaten community security, and there must be awareness and education campaigns targeting society in order to fortify itself against these phenomena."  LINK

Experts: Diversifying Revenues Is A Guarantee Of Economic Stability

Economic  2024/10/10  Financial and economic experts expect that the recent developments in the Middle East will create a state of instability in the region and in global markets, including the labor market, which is greatly affected by the general conditions prevailing in a region where oil production is concentrated.

Economic expert and former minister Dr. Raed Fahmy, in an interview with “Sabah”, believes that “countries that depend on oil, such as Iraq, despite the country’s attempts to attract foreign capital, will witness a state of fluctuation,” noting that “this is reflected in the average citizen and his purchasing power, because the turmoil in the region will have a negative impact on the course of things in general, and prices in particular.”

Fahmy pointed out that “Iraq is an importing country, and the volume of its imports constitutes about 90-98% of its needs from abroad, including food needs,” indicating that “import and export operations, and the dollar exchange rates will be affected in the coming days and will be reflected in the commercial movement and exchanges, including the price of oil.”

He added that “the turbulent situation and lack of clarity of vision will affect all investors and projects that may be initiated in the region,” expecting that long-term investment decisions in many countries “will witness a state of waiting that will be reflected in economic activity  in general.”

In this context, economic researcher and consulting engineer Imad Al-Muhammadawi told Al-Sabah: “The region is currently witnessing highly tense conditions, which may lead to a rise in oil prices and a change in the dollar exchange rate.”

Al-Muhammadawi considered the country’s reliance on the rentier economy “an obstacle to diversifying the state’s general revenues, as oil revenues constitute about 99% of its exports and 85% of the country’s general budget,” noting that “enhancing non-oil revenues, controlling spending and activating the role of the private sector will work to achieve financial sustainability in such exceptional circumstances.”

It is noteworthy that the government has taken major and important steps to diversify revenues through partnerships with the private sector, reducing tax evasion, rehabilitating factories and paying attention to agriculture.   https://alsabaah.iq/103909-.html