“Tidbits From TNT” Friday Morning 10-18-2024

TNT:

Tishwash:  Al-Sudani to Lukoil delegation: The government attaches great importance to developing oil industries and production capacities

Prime Minister Mohammed Shia al-Sudani stressed, on Thursday, that the government attaches great importance to developing the oil industries and Iraqi production capabilities.

A statement from his office received by Al-Mirbad stated that "Prime Minister Mohammed Shia al-Sudani received a delegation from the Russian oil company Lukoil, where they reviewed the progress of cooperation with the company and the executive work it is undertaking in Iraq."

The statement added that "the Prime Minister listened to a briefing on the company's work in the West Qurna 2 and Orido oil fields, and the progress of implementation."

The Prime Minister stressed - according to the statement - that "the government attaches great importance to the issue of developing the oil industries and Iraqi production capabilities, and a priority in implementing development projects; in order to maximize revenues, especially in the field of transitioning to the production of various petroleum and petrochemical derivatives, based on a broad and strong infrastructure for the oil sector, especially in the field of extraction."  link

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Tishwash:  Government advisor identifies 4 directions to revitalize the private sector in Iraq

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed Iraq’s ability to activate the private sector through development funds.

Saleh told Al Furat News Agency: “The funds allocated to development funds can be greatly utilized to stimulate the private sector in Iraq, especially in light of major projects such as the Grand Faw Port and the Development Road.”

He said, "These projects represent strategic opportunities to stimulate economic growth and attract investments, and they also contribute to improving infrastructure and making Iraq an important center for maritime and land trade in the region."

Saleh pointed out that development funds can direct part of their investments to:

1 - Infrastructure supporting the private sector: through financing road, railway, port and airport projects, which contribute to improving the business environment and facilitating transportation and shipping operations.

2- Financing small and medium enterprises: Encouraging the growth of these projects through financial facilities such as soft loans or providing guarantees, which contributes to creating job opportunities and improving the local economy.

3- Investing in technology and innovation: Supporting the development of the private sector’s technical capabilities by financing research and development and encouraging companies to adopt new technologies that improve productivity and efficiency.

4- Developing the logistics sector: Providing financial support for logistics projects that contribute to supporting the port of Faw and linking Iraq to regional and international markets.

5- Stimulating the industrial sector: Allocating funds to develop national industries, especially those related to energy, manufacturing industries, and petrochemicals, to expand the local production base and enhance its competitiveness in global markets, noting the importance of the five industrial cities and economic zones proposed to be established on the path of development and their role in this regard. 

The Prime Minister's Advisor stressed that "thanks to these initiatives, Iraq will be able to revitalize the private sector and make it a major partner in economic development and achieve maximum benefit from its strategic geographical location."  link

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Al-Sudani chairs a meeting to follow up on efforts to develop the work of the government banking sector

 Prime Minister Mohammed Shia Al-Sudani chaired a meeting to follow up on efforts to develop the work of the government banking sector, in the presence of representatives of Ernst & Young Auditing and Financial Consulting. 

more details

Prime Minister Mohammed Shia Al-Sudani chaired a meeting on Thursday on efforts to develop the work of the government banking sector, in the presence of representatives of Ernst & Young for Auditing and Financial Consulting.

A statement issued by Al-Sudani's media office stated that during the meeting, a package of recommendations was presented by the company to proceed with the reform of Rafidain Bank, which included the new legal status of Rafidain Bank, its capital, its work strategy, and the new consultant who will work with the bank to meet the global requirements for modern banking.

The statement explained that these recommendations will be submitted to the Ministerial Council for the Economy, which will then submit them to the Council of Ministers for approval.

The statement quoted Al-Sudani as saying that the issue of restructuring Rafidain Bank is the first step in the government’s banking reforms, which have been given special attention to follow up on all reports related to it, submitted by the relevant authorities, especially the committee concerned with the restructuring process.

The Prime Minister stressed the importance of the banking sector reform project, which began with Rafidain Bank, pointing out the work to provide a bank with specifications and standards through which problems can be overcome and confidence can be given to citizens, in addition to enhancing cooperation with local and foreign investors.   limkn

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Mot....... Why - I Say!! -- Why!!!  

Mot:  ...... Friday it is

Iraq Economic News and Points To Ponder Thursday Evening 10-17-24

Parliamentary Economic Committee Expects To Vote On Economic Reform Law Soon

Buratha News Agency1392024-10-17  The Parliamentary Committee on Economy, Industry and Trade expected the vote on the economic reform law to be held in the coming few days, as the committee’s deputy chairman, Yasser Al-Husseini, stated that “the law reached the House of Representatives in general and the Economy Committee in particular months ago, and it includes all laws that include the economic aspect,” according to the official Al-Sabah newspaper.

He added, "The committee held many workshops at all levels, whether for businessmen or industrial and economic experts," stressing that "the committee is proceeding with reading this law and working to vote on it during the next stage in cooperation with other specialized committees."

Al-Hussaini explained that "there are comments, whether from the representatives or from the experts, and they will be included in a paper prepared alongside the law," noting that "the committee is determined to vote on it with the available capabilities because it sees it as important in this law, which can bring about major reform in the economic reality of the country."

He also stressed the "importance of the Industrial Investment Law for the public and private sectors, to accurately diagnose this partnership," indicating that "the contracts concluded in accordance with this law will be beneficial and profitable for both parties, unlike some contracts whose negatives outweigh their positives in the industrial sector, and which oblige the state to long-term, impossible conditions."

He added that "the committee is proceeding with voting on the industrial investment law, which is no less important than other laws, despite some objections that have prevented voting on it so far," stressing that "the final stage of voting has been reached after consensus was reached between the political blocs objecting to its wording."  https://burathanews.com/arabic/economic/451753

Starting From Rafidain Bank.. Al-Sudani Stresses The Importance Of The Banking Sector Reform Project

Banks  Economy News – Baghdad  Prime Minister Mohammed Shia Al-Sudani stressed the importance of banking reform in enhancing citizen confidence and cooperation with local and foreign investors.

The Prime Minister's media office stated in a statement received by "Al-Eqtisad News" that "Al-Sudani chaired a special meeting on efforts related to developing the work of the government banking sector, in the presence of representatives of Ernst & Young for auditing and financial consulting."

During the meeting, "a package of recommendations was presented by the company to proceed with the reform of Rafidain Bank, which included the new legal status of Rafidain Bank, its capital, its work strategy, and the new consultant who will work with the bank to meet the global requirements for modern banking. These recommendations will be presented to the Ministerial Council for the Economy, which will then submit them to the Council of Ministers for approval."

He explained that "the subject of restructuring Rafidain Bank is the first step in the government's banking reforms, which have been given special attention to follow up on all reports related to it, submitted by the relevant authorities, especially by the committee concerned with the restructuring process."

The Prime Minister stressed "the importance of the banking sector reform project, which began with Rafidain Bank, pointing out the work to provide a bank with specifications and standards through which problems can be overcome and confidence given to citizens, in addition to enhancing cooperation with local and foreign investors."  https://economy-news.net/content.php?id=48839

Oil Prices Stabilize Amid Expectations Of Slowing Demand And Easing Supply Concerns

Thursday 17 October 2024 00:09 | EconomicNumber of readings: 336

Baghdad / NINA / Oil prices stabilized on Wednesday near their lowest levels in two weeks after falling by seven percent over the past three days, driven by expectations of a slowdown in global demand for crude.

Brent crude futures recorded a slight decrease of three cents to settle at $ 74.22 a barrel, while US West Texas Intermediate crude futures fell by 0.3%, falling 19 cents and settling at $ 70.39 a barrel.

Crude prices have witnessed a successive decline over the past two days, closing at their lowest levels since October 2, due to weak expectations for oil demand.

On the global demand front, OPEC and the International Energy Agency lowered their expectations for global oil demand growth in 2024, with experts attributing this reduction to weak demand from China, which is a major factor in these expectations. / https://ninanews.com/Website/News/Details?key=1162661

Iraq Stock Exchange: Trading Exceeds 18 Billion Dinars In October Week

10/17/2024  Mawazine News – Economy  The Iraq Stock Exchange announced today, Thursday, that shares worth more than 18 billion dinars were traded during five sessions this week, which is the third week of October.

According to market indicators, the number of shares traded during this week exceeded 19 billion shares, with a financial value exceeding 18 billion dinars.

The ISX60 market trading index closed at 970.86 points in the first session of the week, while it closed at the end of the week at 988.86 points, achieving an increase of 2.80% over its closing at the beginning of the week.

The ISX15 market trading index also closed at 1060.47 points in the first session of the week, to end the week at 1074.75 points, achieving an increase of 1.33% over its closing at the beginning of the week.

During the week, 4783 buy and sell contracts were executed on the shares of companies listed on the market, reflecting a noticeable activity in  trading. https://www.mawazin.net/Details.aspx?jimare=256036

Central Bank Sells Over $269 Million In Auction Today

Banks  Economy News – Baghdad  The Central Bank of Iraq announced today, Thursday, its sales of hard currency, which amounted to more than 269 million dollars in today's transactions, according to the official price of 1310.

The bank's data showed that the total internal cash withdrawals amounted to $8,850,000, while the total amounts of transfers abroad, including remittances and credits, amounted to $260,460,587, while the total sales amounted to $269,310,587.  https://economy-news.net/content.php?id=48844

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

Seeds of Wisdom RV and Economic Updates Thursday Evening 10-17-24

Good Evening Dinar Recaps,

IRELAND DRAFTING URGENT CRYPTO LAWS BEFORE EU MONEY-LAUNDERING RULES

Ireland is preparing to draft “urgent” cryptocurrency regulations ahead of upcoming European Union Anti-Money Laundering and terror financing standards.

Ireland’s Finance Minister, Jack Chambers, told the cabinet that urgent legislation would be drafted to update crypto regulations before the EU laws take effect on Dec. 30, the Irish Examiner reported on Oct. 16.

No details were shared about the new crypto legislation or when it might come into force.

The EU’s “Anti-Money Laundering and Countering the Financing of Terrorism Act” will enhance the powers of financial intelligence units, enabling them to suspend transactions.

It will also impose stricter reporting requirements for crypto exchanges and a 10,000 euro ($10,850) limit on cash payments. There will be more stringent monitoring of large transactions and new reporting requirements for high-value transactions.

The legislative framework covers a range of areas posing risks, including crypto assets and crowdfunding. It also “complements other regulations such as Markets in Crypto-Assets Regulation (MiCA),” the European Commission noted earlier.

In September, Derville Rowland, deputy governor of the Central Bank of Ireland, said that the country aims to stay at the forefront of safe innovation through MiCA.

She said that crypto regulations were essential for Europe to become a global leader in adapting and adopting new technologies.

The EU’s MiCA regulations — separate from its AML/CFT act — came into effect in June 2023.

“It is important that Ireland, as a small, open economy with a thriving financial services industry, is an active participant in preventing its financial system from being used for money laundering and terrorist financing purposes,” said the Central Bank of Ireland.

As of July, the Central Bank of Ireland had approved 15 virtual asset service providers. These included Gemini, Ripple, Paysafe, MoonPay and Coinbase, which agreed to delist non-compliant stablecoins from its European platform.

@ Newshounds News™

Source:  CoinTelegraph 

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XLM NEWS: PAXOS ANNOUNCES STELLAR NETWORK INTEGRATION TO DRIVE STABLECOIN ADOPTION

▪️Paxos’ integration with the Stellar network aims to accelerate institutional adoption of stablecoins, enhancing global access to digital dollars.

▪️The partnership highlights Paxos’ focus on regulatory compliance and trust, positioning both companies to drive stablecoin adoption in global financial markets.

Paxos, known for its highly regulated tokenization platform, continues to build trust and credibility by complying with financial regulations in every region it operates.

 Following a recent CNF update on leading stablecoin issuers embracing an international set of stablecoin standards, Paxos announced its integration with the Stellar network at the Meridian 2024 conference, marking a significant step in expanding its tokenization platform.

Stellar is a well-regarded open-source blockchain used for payments and remittances. In a press release, Paxos CEO and Co-Founder Charles Cascarilla stressed:

We are excited to partner with Stellar to make trustworthy stablecoins more accessible to global institutions. Stablecoins will revolutionize the global financial system and open access to people around the world. This collaboration will accelerate the adoption of stablecoins by users worldwide.

This partnership is expected to facilitate institutional adoption of stablecoins, which are issued by properly regulated institutions. As stablecoins gain traction, they are becoming crucial for enterprises and institutions looking to engage with more open and secure digital economies.

The collaboration with Stellar highlights Paxos’ commitment to ensuring its tokenized assets meet global financial regulations and enhance stablecoin accessibility.

Paxos CEO and Co-Founder Charles Cascarilla expressed excitement about the partnership, stating that stablecoins are poised to revolutionize the global financial system.

By making stablecoins more accessible through Stellar’s low-cost and high-speed infrastructure, Paxos aims to accelerate institutional adoption of digital dollars globally.

Stellar’s CEO, Denelle Dixon, emphasized the importance of Paxos as a regulated financial institution in advancing tokenized assets on the Stellar network, praising its ability to foster trust and credibility.

Paxos’ Regulatory Strength and Global Partnerships
With a strong focus on regulated offerings, Paxos supports global enterprises and institutions, including major partners like PayPal, Mastercard, and Nubank.

The company’s infrastructure enables these partners to tokenize, custody, and trade digital assets seamlessly, contributing to a more efficient global financial system.

By late 2024, Paxos plans to bring assets to the Stellar network, further strengthening its position in the digital economy. Paxos’ commitment to trust and transparency, along with its regulatory credentials, underscores its role as a leader in blockchain-based financial infrastructure.

@ Newshounds News™

Source:  Crypto News Flash   

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CHEVRON OVERTURN UNLIKELY TO IMPACT SEC'S CONDUCT — RIPPLE CLO

In 2023 alone, the Securities and Exchange Commission filed over 20 lawsuits against firms and individuals in the crypto industry.

Ripple’s chief legal officer, Stuart Alderoty, believes that the June 2024 overturn of Chevron USA Inc. vs. Natural Resources Defense Council by the United States Supreme Court will have little impact on the Securities and Exchange Commission’s (SEC) strategy of pursuing crypto compliance through enforcement.

In an interview with Cointelegraph’s Turner Wright, Alderoty stressed that only a leadership change would cause a shift in SEC posturing.

“I think under this leadership, the SEC has done tremendous institutional damage to what was once a very well-respected agency,” the Ripple CLO said.

Alderoty also stated that the SEC’s continued litigation against the crypto industry — including the recent appeal in the Ripple lawsuit — was deliberate and meant to create maximum confusion among industry participants:

"This SEC, under this leadership, I don't think they much care if they're right or wrong as a matter of law. I think their goal is through a massive wave of enforcement actions — and now on appeal — to keep a cloud of legal uncertainty over the industry."

“I think ultimately they will be proven wrong again. I don’t think they’re bothered by that,” Alderoty said, before characterizing the SEC’s aggressive stance toward the crypto sector as “Very disturbing.”

Loper Bright vs. Raimondo — overturning 40 years of precedent
The 40-year precedent set by the Chevron case in 1984 was overturned by the United States Supreme Court in the Loper Bright Enterprises v. Raimondo case on June 28, 2024.

The 1984 decision paved the way for courts to defer to regulatory agencies and their internal — often arbitrary — methods of policy enforcement.

For the nascent crypto industry, this meant that startups faced prohibitive regulatory demands from multiple government regulators that choked off innovation and discouraged investment, especially from institutional firms.

In July 2024, Uniswap Labs cited the Chevron overturn as an argument against the SEC’s proposed expansion of what legally qualifies as an “exchange” under the Exchange Act of 1934 — a regulatory change that would bring decentralized finance projects under the purview of the SEC.

@ Newshounds News™

Source:  CoinTelegraph 

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@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Some “Iraq News” Posted by Clare at KTFA 10-17-2024

KTFA:

Clare:  BRICS currency.. Government advisor: A global monetary and financial system is about to be born

10/16/2024 Baghdad

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Wednesday, October 16, 2024, that a monetary and financial system for payments that enjoys international acceptance and credibility is “imminent.”

Saleh said in a press statement, regarding his expectations for the outcomes of the upcoming BRICS summit in Kazan, Russia, that “a monetary system and a payment system are imminent and will enjoy international acceptance and credibility.

” The new monetary situation must impose an official character in the arrangements of special drawing rights (ie the currency of the International Monetary Fund), meaning that the BRICS currency will have a high weight in the weights of global currencies under which the International Monetary Fund deals in terms of the stability of the exchange rate and the strength of the new international currency (the BRICS currency).”

He added: "The Kazan Summit must come out with an official announcement of the new international reserve currency called the BRICS currency, which will undoubtedly represent an economic force for nearly 40% of the world's population, and represent about 30% of the global GDP , especially since the five countries contribute significantly to the global economy, as they represent nearly 25% of the global GDP alone.”

He pointed out that "China and India are considered the main drivers of this growth, with their economic power increasing significantly in the past two decades and up until now, and without a doubt, half of global trade is controlled by the group."

Saleh added: “Thus, the BRICS group seeks to reshape the global economic system in line with its interests, and challenge the traditional dominance of Western countries in international economic institutions, especially by establishing its own financial institutions such as the New Development Bank.”

Russia holds the rotating presidency of the BRICS bloc this year, under the slogan “Strengthening multilateralism for equitable global development and security.”

Since assuming the presidency of the group, Russia has organized more than 200 political, economic and social events, and the main event will be the BRICS summit with the participation of a number of heads of state, which will be held in Kazan from October 22 to 24.

The BRICS group is a joint association of several countries that was created in 2006 by Brazil, Russia, India, and China, and later in 2011, South Africa joined it.

Since the beginning of 2024, Egypt, Ethiopia, Iran, the Emirates and Saudi Arabia have joined BRICS.LINK

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Al-Sudani announces recommendations to be approved by the Council of Ministers to restructure Rafidain Bank

10/17/2024

Prime Minister Mohammed Shia Al-Sudani chaired a meeting today, Thursday, on efforts related to developing the work of the government banking sector, in the presence of representatives of Ernst & Young for auditing and financial consulting.

A statement from the Prime Minister's Office, a copy of which was received by {Euphrates News}, stated that "during the meeting, a package of recommendations was presented by the company to proceed with the reform of Rafidain Bank, which included the new legal status of Rafidain Bank, its capital, its work strategy, and the new consultant who will work with the bank to meet the global requirements for modern banking.

These recommendations will be presented to the Ministerial Council for the Economy, which will then submit them to the Council of Ministers for approval."

He explained that "the issue of restructuring Rafidain Bank is the first step in the government's banking reforms, which have been given special attention to follow up on all reports related to it, submitted by the relevant authorities, especially the committee concerned with the restructuring process."

The Prime Minister stressed "the importance of the banking sector reform project, which began with Rafidain Bank, pointing out the work to provide a bank with specifications and standards through which problems can be overcome and confidence given to citizens, in addition to enhancing cooperation with local and foreign investors."   LINK

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Clare: Iraq Participates in GITEX 2024 to Enhance Cooperation in Technology and Cybersecurity

10/17/2024

 Chairman of the Communications and Media Commission Ali Almoayyed participated in the 44th edition of GITEX Global 2024, which was held at the Dubai World Trade Center under the slogan “Global Cooperation to Shape the Future Economy Based on Artificial Intelligence.”

His media office stated in a statement received by {Euphrates News}, that "this exhibition is considered one of the largest global events specialized in technology and emerging companies, as it attracts a large number of governments, investors, major companies and experts from various sectors." 

He added: “The event is a platform to enhance global cooperation between governments, companies and investors, in addition to supporting start-ups and promoting innovation in academia and research circles.”

This year, GITEX Global 2024 will feature more than 6,500 companies from over 180 countries, with a focus on showcasing investment opportunities in advanced technology, cybersecurity, data protection, and artificial intelligence technologies.

The exhibition contributes to enhancing international cooperation in modern technology, providing governments and start-ups with unprecedented investment opportunities in various vital sectors.LINK

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Clare:  Kuwait urges Iraq to take concrete measures to address outstanding issues between the two countries

10/17/2024

Kuwaiti Prime Minister Ahmed Abdullah Al-Ahmad Al-Sabah called on Iraq to take tangible measures to address all pending issues between the two countries.

In his speech at the Gulf-European summit in Brussels, Al-Sabah said, "At the forefront of these files is the demarcation of the maritime borders beyond point 162 in accordance with international laws and conventions, and the completion of the file of prisoners, missing persons and Kuwaiti properties, including the national archives within the scope of the follow-up of the United Nations and in particular the Security Council.

" Al-Sabah urged "Iraq to adhere to the bilateral agreements related to the security and technical aspects of the navigational passage in Khor Abdullah, which are agreements that would enhance the concept of environmental conservation, regulate navigation, and combat terrorism and the illegal trade in weapons, drugs and human beings," stressing "the importance of continuing the dialogue based on understanding and mutual respect between the two brotherly countries."

He pointed out that "based on the belief in the principle of good neighborliness, Kuwait was keen to help Iraq rise up through close work aimed at restoring its regional status and position in a way that achieves the hopes of its brotherly people."
On October 3, Foreign Minister Fuad Hussein announced the imminent resumption of Iraqi-Kuwaiti negotiations to resolve outstanding problems between the two countries, noting “Iraq’s true desire to reach understandings to resolve existing differences.”  LINK

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Clare:  Today.. The Kurdistan government announces a list of September salaries

10/17/2024   Erbil 

An informed government source confirmed that the Kurdistan Regional Government will announce, today, Thursday (October 17, 2024), a list of employee salaries for last September.

The source said in an interview with Baghdad Today, “The Ministry of Finance will announce in the coming hours a schedule of employee salaries worth 977 billion dinars, including the security forces, employees, retirees, and social care.”

He added, "The distribution schedule will continue for 3 days, and includes the disbursement of all ministries, starting with the Ministry of Health, then the Peshmerga, and the rest of the institutions in succession."

An informed source revealed, on Saturday (October 12, 2024), the date for disbursing salaries to employees in the Kurdistan Region for the month of September .

The source said in an interview with "Baghdad Today" that "there is a shortage in the amounts allocated for salaries that will arrive on Sunday from Baghdad to the account of the Ministry of Finance in the regional government."

He added, "The Kurdistan Ministry of Finance will issue a schedule of the salary list, and will most likely begin distribution next Tuesday, with distribution ending on Thursday, and continuing for three days, only two days before the Kurdistan Parliament elections."

He added, "The regional government will distribute September salaries a few days before the elections in response to internal pressures and also as an election propaganda ."

The Ministry of Finance in the Kurdistan Region announced last September that it had delivered the list of employees' salaries for the months of August and September, as requested by the Federal Ministry of Finance the last time, confirming that it was waiting to start sending the Salaries for the month of September to the region's employees, in conjunction with the start of the process of auditing the salary list .  LINK

MilitiaMan & Crew News Reporting - Iraq Dinar Updates

MilitiaMan & Crew News Reporting - Iraq Dinar Updates

MilitiaMan and Crew: 10-17-2024

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=ELXnIAlX4xI

A Real Asset With A 12% Dividend Yield

A Real Asset With A 12% Dividend Yield

Notes From the Field By James Hickman / Simon Black October 17, 2024

It’s very hard to overstate just how obliterated the global economy was following World War II. Europe was in ruins, with many major cities having been bombed back into the Stone Age. Japan had literally been nuked.

And just about every economy around the world that still had any manufacturing capacity was pumping out guns, bullets, and bombs; there was hardly any economic activity taking place that wasn’t somehow tied to the war.

It was sort of like Covid— the regular economy was shut down... and governments discovered very quickly that they couldn’t simply turn the global economic machine back on with the flip of a switch.

The transition from obliterated war economy to booming peacetime economy was an incredibly difficult one. So, in 1948, the United States (which was among the only developed major economies still standing) launched the Marshall Plan.

The idea was simple: America would shovel $13 billion (which, as a percentage of global GDP, is equivalent to around $5 trillion today) around the world to facilitate trade and economic edevelopment.

But alongside the financial aid came a promise: the US Navy would protect the seas, ensuring that the global flow of goods could continue unimpeded.

For decades, American naval dominance guaranteed a level of safety and stability that allowed international trade to thrive. Shipping routes were secured, costs remained low, and commerce could flow relatively uninterrupted across the world's oceans.

The post-WWII era ushered in an unprecedented period of cooperation and prosperity, making international trade easier, faster, and more profitable.

But those calm seas are growing choppy again.

The war between Russia and Ukraine, for example, has drastically altered oil trade routes. Russian crude oil, which once flowed easily into Europe, is now making much longer journeys to places like India, where it’s refined and then sent back to Europe as diesel.

This convoluted, inefficient process is adding enormous strain and cost to shipping routes, increasing the “ton miles”, i.e. each mile that a ton of product must travel.

But this is just one example. In the Middle East, the Houthis in Yemen have launched attacks on vessels transiting the Red Sea, creating a new chokepoint in global shipping lanes. Pirates have increased their attacks in the area as well.

Many oil tankers are now rerouting entirely around the southern tip of Africa to avoid the Suez Canal, extending travel times significantly.

The further oil must go, the more tankers are needed. The problem is, these changes took place quite rapidly, yet shipbuilding is not an industry that can quickly respond to that demand.

Shipbuilding is a slow, capital-intensive process. And after years of underinvestment, there are hardly any new tankers being built. Shipyards are busy constructing other types of vessels, but the number of new oil tankers remains near record lows.

At the same time, a large chunk of the existing global fleet is over 20 years old, nearing the end of its lifespan. This imbalance is going to worsen before it gets better, leading to a serious shortage in oil tankers at the exact moment when the world needs them most.

The combination of more ton miles and fewer ships is creating a perfect storm in the tanker market.

This imbalance is inflationary. Both shipping and energy are core components of nearly every supply chain. Higher costs to transport oil mean higher costs for just about everything else we buy—from groceries to manufactured goods.

Climate fanatics can pretend that the world is ready to run off wind and solar, which is why they suppress investment in everything from new drilling, to transport ships. But the reality is, oil is still the most important energy source on earth.

Energy is a prime example of a real asset— a critical resource that keeps the economy going, and cannot be created out of thin air by governments and central banks.

And the shipping companies which transport that oil are real asset businesses... which is why we have been following this industry closely.

One company in particular that we told subscribers about in our premium investment research stands out as being uniquely positioned to capitalize on these trends.

It has a fleet of 82 ships, with an average age of just over 10 years, meaning they have plenty of life left. They can also continue to benefit from the shortage of ships as long as it lasts— which we know from the global orderbook for new ships, will be several years at least.

But this also means the company won’t have to spend huge amounts of capital in the near future buying new ships. And already, it carries little debt... yet still pays around a 12% dividend.

Again, in addition to the dynamics of debt, deficits, and dysfunction in the US government which promise to increase inflation, global conflict is also inflationary.

This is another example of the real asset companies not only poised to do well in an inflationary world, but that are also trading near historic low valuations.

This shipping company, for example, is trading at a P/E (price to earnings) ratio of just 4.44.

While we can wish all we want that the world was not becoming less cooperative, that won’t change the reality. Better to position ourselves to benefit under these conditions, by investing in companies that actually gain from that disorder.

We’ve talked a lot about this same dynamic when it comes to gold, and why central banks around the world are turning to it, and away from the US dollar.

We also talked about it recently in relation to how the prices of certain critical metals have been artificially suppressed by climate fanatics who think the days of gas vehicles are past. They are wrong.

The best way to fight back, while inflation-proofing your future, is to invest in critical real asset companies at historic lows.

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

PS-

Our premium investment research service, The 4th Pillar, has provided recent, in-depth reports on several undervalued real asset businesses, which we believe are set to boom under these conditions

https://www.schiffsovereign.com/trends/a-real-asset-with-a-12-dividend-yield-151662/

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 10-17-24

Good Afternoon Dinar Recaps,ay Afternoon 10-17-24

STABLECOIN ADOPTION IN U.S. IS LOW: CHAINALYSIS REPORTS

According to a Chainalysis report, stablecoin adoption in the U.S. has slowed, with regulatory uncertainty driving more transactions to global markets.

Stablecoin adoption in the U.S. has slowed in 2024 compared to global markets, according to an October 17 report by blockchain analysis firm Chainalysis.

The report highlights that while stablecoin use has surged internationally, U.S. markets have seen a decline in their share of stablecoin transactions, dropping from roughly 50% in 2023 to below 40% in 2024.

Global Stablecoin Adoption Outpaces the U.S.
As per the report, this slowdown in adopting stablecoin in the U.S. is largely attributed to the lack of regulatory clarity.

Chainalysis noted that, in contrast to other regions, the U.S. has failed to make significant regulatory progress in the digital assets space, particularly stablecoins, contributing to a stagnation in adoption.

While the U.S. stablecoin market is experiencing a relative decline, global markets have witnessed increased adoption.

More transactions are now taking place on non-U.S.-regulated exchanges, reflecting a growing demand for stablecoins in emerging markets.

This surge is driven by stablecoins’ ability to offer a stable store of value in regions with volatile currencies and limited access to U.S. dollars.

Populations in these areas use stablecoins to access U.S. dollar stability without needing traditional banking systems.

U.S. Regulatory Uncertainty and Global Competition
Chainalysis also emphasized that regulatory uncertainty in the U.S. contributes substantially to the country’s slowdown in stablecoin adoption.

Unlike regions such as the European Union, United Arab Emirates, Singapore, and Hong Kong, which have enacted clear regulatory frameworks encouraging digital asset growth, the U.S. struggles to regulate stablecoins.

Additionally, the European Union’s Markets in Crypto-Assets Regulation (MiCA), implemented in June 2024, has provided much-needed clarity for stablecoins in Europe, attracting projects and fostering adoption.

Meanwhile, Circle warns that without clear guidance, the U.S. could forfeit its influence in the stablecoin market and lose its leadership in dollar-based on-chain commerce.

While the U.S. lags in regulatory progress, there have been steps toward developing a stablecoin framework.

In July 2023, the House Financial Services Committee advanced a stablecoin bill aimed at providing regulatory clarity.

Circle remains optimistic, hoping that Congress will pass the bill to establish clear anti-money laundering (AML) and sanctions obligations for stablecoin issuers, ensuring the U.S. retains its role in the global stablecoin market.

@ Newshounds News™

Source:  CryptoNews

~~~~~~~~~

RIPPLE NEWS: CEO BRAD GARLINGHOUSE CONSIDERS IPO PATH, SAYS ‘SEC IS NOT OUR FRIEND’

At the recent Swell conference, Ripple CEO Brad Garlinghouse addressed the possibility of the company going public. When asked about a potential IPO in light of regulatory clarity expected next year, he clarified, “An IPO has not been a high priority for us. Part of that is because the SEC is not our friend.”

In an interview with Thinking Crypto, he said that most companies seek to go public primarily to raise capital. In contrast, Ripple has maintained a strong financial position, allowing it to invest in various projects and make acquisitions without the immediate need for public funding. “We have a hostile SEC and a company that doesn’t need to raise capital,” he said, explaining why an IPO is not at the forefront of Ripple’s agenda.

Garlinghouse did acknowledge the importance of ensuring liquidity for shareholders and maintaining appropriate company valuation. However, he reiterated that prioritizing an IPO is not urgent, especially given the time-consuming process it entails. “Even when I think about it, usually when a company says they’re going public, it still takes twelve plus months,” he said, adding that regulatory conditions must improve first.

The Crypto Market Outlook for 2025
When discussing the broader crypto market as it heads into 2025, Garlinghouse expressed positivity despite the challenges the industry has faced.

Garlinghouse pointed out that the U.S. government’s previously hostile stance towards crypto is beginning to shift, especially with major players like BlackRock entering the space. He explained the importance of this development, as it indicates increasing institutional interest in blockchain technology and its potential applications.

While acknowledging the difficulty of making accurate predictions about crypto prices, Garlinghouse remains optimistic about the next year or two, suggesting that positive changes may occur sooner rather than later.

@ Newshounds News™

Read more:  CoinPedia

~~~~~~~~~

🌍 Q: Can I sell my Zim for money today? Can I gift Currency? DYOR | Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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Thank you Dinar Recaps

A Real Asset With A 12% Dividend Yield

A Real Asset With A 12% Dividend Yield

Notes From the Field By James Hickman / Simon Black October 17, 2024

It’s very hard to overstate just how obliterated the global economy was following World War II. Europe was in ruins, with many major cities having been bombed back into the Stone Age. Japan had literally been nuked.

And just about every economy around the world that still had any manufacturing capacity was pumping out guns, bullets, and bombs; there was hardly any economic activity taking place that wasn’t somehow tied to the war.

It was sort of like Covid— the regular economy was shut down... and governments discovered very quickly that they couldn’t simply turn the global economic machine back on with the flip of a switch.

The transition from obliterated war economy to booming peacetime economy was an incredibly difficult one. So, in 1948, the United States (which was among the only developed major economies still standing) launched the Marshall Plan.

The idea was simple: America would shovel $13 billion (which, as a percentage of global GDP, is equivalent to around $5 trillion today) around the world to facilitate trade and economic edevelopment.

But alongside the financial aid came a promise: the US Navy would protect the seas, ensuring that the global flow of goods could continue unimpeded.

For decades, American naval dominance guaranteed a level of safety and stability that allowed international trade to thrive. Shipping routes were secured, costs remained low, and commerce could flow relatively uninterrupted across the world's oceans.

The post-WWII era ushered in an unprecedented period of cooperation and prosperity, making international trade easier, faster, and more profitable.

But those calm seas are growing choppy again.

The war between Russia and Ukraine, for example, has drastically altered oil trade routes. Russian crude oil, which once flowed easily into Europe, is now making much longer journeys to places like India, where it’s refined and then sent back to Europe as diesel.

This convoluted, inefficient process is adding enormous strain and cost to shipping routes, increasing the “ton miles”, i.e. each mile that a ton of product must travel.

But this is just one example. In the Middle East, the Houthis in Yemen have launched attacks on vessels transiting the Red Sea, creating a new chokepoint in global shipping lanes. Pirates have increased their attacks in the area as well.

Many oil tankers are now rerouting entirely around the southern tip of Africa to avoid the Suez Canal, extending travel times significantly.

The further oil must go, the more tankers are needed. The problem is, these changes took place quite rapidly, yet shipbuilding is not an industry that can quickly respond to that demand.

Shipbuilding is a slow, capital-intensive process. And after years of underinvestment, there are hardly any new tankers being built. Shipyards are busy constructing other types of vessels, but the number of new oil tankers remains near record lows.

At the same time, a large chunk of the existing global fleet is over 20 years old, nearing the end of its lifespan. This imbalance is going to worsen before it gets better, leading to a serious shortage in oil tankers at the exact moment when the world needs them most.

The combination of more ton miles and fewer ships is creating a perfect storm in the tanker market.

This imbalance is inflationary. Both shipping and energy are core components of nearly every supply chain. Higher costs to transport oil mean higher costs for just about everything else we buy—from groceries to manufactured goods.

Climate fanatics can pretend that the world is ready to run off wind and solar, which is why they suppress investment in everything from new drilling, to transport ships. But the reality is, oil is still the most important energy source on earth.

Energy is a prime example of a real asset— a critical resource that keeps the economy going, and cannot be created out of thin air by governments and central banks.

And the shipping companies which transport that oil are real asset businesses... which is why we have been following this industry closely.

One company in particular that we told subscribers about in our premium investment research stands out as being uniquely positioned to capitalize on these trends.

It has a fleet of 82 ships, with an average age of just over 10 years, meaning they have plenty of life left. They can also continue to benefit from the shortage of ships as long as it lasts— which we know from the global orderbook for new ships, will be several years at least.

But this also means the company won’t have to spend huge amounts of capital in the near future buying new ships. And already, it carries little debt... yet still pays around a 12% dividend.

Again, in addition to the dynamics of debt, deficits, and dysfunction in the US government which promise to increase inflation, global conflict is also inflationary.

This is another example of the real asset companies not only poised to do well in an inflationary world, but that are also trading near historic low valuations.

This shipping company, for example, is trading at a P/E (price to earnings) ratio of just 4.44.

While we can wish all we want that the world was not becoming less cooperative, that won’t change the reality. Better to position ourselves to benefit under these conditions, by investing in companies that actually gain from that disorder.

We’ve talked a lot about this same dynamic when it comes to gold, and why central banks around the world are turning to it, and away from the US dollar.

We also talked about it recently in relation to how the prices of certain critical metals have been artificially suppressed by climate fanatics who think the days of gas vehicles are past. They are wrong.

The best way to fight back, while inflation-proofing your future, is to invest in critical real asset companies at historic lows.

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

PS-

Our premium investment research service, The 4th Pillar, has provided recent, in-depth reports on several undervalued real asset businesses, which we believe are set to boom under these conditions

https://www.schiffsovereign.com/trends/a-real-asset-with-a-12-dividend-yield-151662/

More News, Rumors and Opinions Thursday Afternoon 10-17-2024

MikeCristo8: This will Reset Oil Back onto a Gold Standard

10-16-2024

The whole point of the BRICS alliance is to stabilize the Middle East oil markets away from the dollar SWIFT payment systems.

This involves having a new currency to settle your Middle East oil trade.

BRICS is likely to introduce a *small basket of currencies backed by oil and gold.

That will reset oil back onto a gold standard.

Doesn’t everyone realize that the liquidity problems faced by banks is.

Because the dollar no longer settles the oil trade.

China is devaluing the yuan against gold to get oil onto a gold standard.

https://dinarchronicles.com/2024/10/16/mikecristo8-this-will-reset-oil-back-onto-a-gold-standard/

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RV Excerpts from the Restored Republic via a GCR: Update as of Thurs. 17 Oct. 2024

Compiled Thurs. 17 Oct. 2024 12:01 am EST by Judy Byington

Wed. 16 Oct. 2024 The 30+1 Primary Provisions of NESARA GESARA: The Ultimate Blueprint for Global Transformation …David Wilcock

1. Debt Forgiveness: All bank-related debts, including credit cards, mortgages, and loans caused by illigal banking practices, will be eliminated. This financial “jubilee” will free people from oppressive financial institutions.

2. Termination of the IRS: The IRS will be permanently shut down, and its employees will be reassigned to the new Treasury-based tax collection system.

3. Abolishment of Income Tax: Income taxes, including taxes on investments and retirement accounts, will be completely removed, as they were unconstitutionally imposed.

4. Flat-Rate Sales Tax: A 14% flat-rate sales tax will be introduced on new, non-essential goods (excluding food, medicine, and used items) to fund government operations, ensuring a fairer and more transparent tax system.

5. Restoration of Financial Privacy: New systems will be implemented to protect financial privacy, ending widespread data theft and hacking.

6. Re-indexing of Precious Metals: Gold, silver, and other precious metals will be re-indexed within 30 days of NESARA’s completion, stabilizing the economy.

7. Federal Reserve Phase-Out: The Federal Reserve will be dissolved over the course of a year, transitioning all monetary control to the U.S. Treasury.

8. Banking Reform: Banks will face new limits on rates and fees, while citizens gain stronger custody rights over their funds. Banks will be phased out over 3-5 years post-NESARA.

9. Boost to Senior Citizens’ Benefits: NESARA will increase benefits for senior citizens, ensuring financial support during their later years.

10. Global Peace Initiatives: The U.S. will cease all aggressive military actions, focusing on peaceful diplomatic relations worldwide.

11. QFS (Quantum Financial System): Most NESARA-related exchanges of foreign currency and bonds will be securely stored in blockchain accounts via the Quantum Financial System.

12. Humanitarian Project Funding: Large-scale funding will be provided for domestic and global humanitarian projects, allowing for widespread societal improvements.

13. Redemption of Currencies and Bonds: Individuals will have the opportunity to redeem or exchange their foreign currencies and ZIM bonds at specific rates for personal use and humanitarian projects.

14. Reclamation of Stolen Assets: Assets stolen by corrupt institutions, including the Federal Reserve and Wall Street, will be reclaimed and restored to rightful owners.

15. Return to Constitutional Law: NESARA will restore Constitutional Law within the U.S. legal system, eliminating unconstitutional practices.

16. Reinstatement of the Title of Nobility Amendment: Americans under foreign influence or control will lose their citizenship and be deported to prevent foreign interference in domestic affairs.

17. New Elections: Immediate Presidential and Congressional elections will be held within 120 days of NESARA’s announcement, wiping the slate clean of previous corrupt regimes.

18. New QFS Voting System: A revolutionary voting system based on the Quantum Financial System (QFS) will replace the current election system. Only those who have participated in NESARA benefits will be eligible voters.

19. Release of Suppressed Technologies: Over 6,000 hidden patents for advanced technologies, including free energy and medical cures, will be made public.

20. Privatization of the U.S. Postal Service: The USPS will be privatized to streamline operations and improve efficiency.

https://dinarchronicles.com/2024/10/17/restored-republic-via-a-gcr-update-as-of-october-17-2024/

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

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

Frank26  [Bank Story]   BRAD:  Huntington Bank in Pennsylvania...I funded my account with a small amount of money and I said I'd like to place an order for Iraqi dinar but before I do I want to see how much I can get for my money...To make a long story short they sell them at the program rate, which you know is nothing special...By the time I left I realized all I had to do was have her remove money from my account.  I was on top of the world.  I came home and called...Gary. I said you live in Indianapolis, Do you have any Huntington Banks where you are?  [Post 1 of 2....stay tuned]

Frank26  [Bank Story Continues]  He goes yeah.  I said, you want to call them and see if you can purchase the dinar and dong?  He goes sure thing.  He text me back half hour later, he goes, Brad I can get them here in Indianapolis too.  They come out of Miami...Why would Huntington Bank all of a sudden be selling dinar and dong at...970 branches in 11 states?   Boom! FRANK:  ...I have a Huntington Bank here in Toledo Ohio, they wouldn't sell dinars in the past.  Why are they doing it now?   The reason why IMO is because it opens the door for them to exchange the three zero notes.    [Post 2 of 2]

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

LBMA Survey Foresees Silver Rising To $45 Per Ounce

Arcadia Economics:  10-17-2024

The LBMA just held its annual conference in Miami, where they compiled their precious metals survey. Which calls for silver to outperform gold, and rise to $45 per ounce.

To get a full recap of their conclusions and what you can take away from them, Vince Lanci goes through the report and puts it all in context.

https://www.youtube.com/watch?v=wcCv1Yosn9g

Economist’s “News and Views” 10-17-2024

We've Destroyed the US Dollar and Time is Running Out to Save it: Art Laffer

Daniela Cambone:  10-17-2024

In this conversation with Daniela Cambone, Dr. Arthur Laffer discusses various aspects of the economy, focusing on the implications of debt, trade policies, the future of the US dollar, monetary policy, and the impact on the middle class.

He emphasizes that debt is a tool that can be used effectively if managed properly, critiques current trade policies, and argues for the importance of a stable dollar and sound monetary policy.

Laffer also highlights the need for a flat tax system and discusses the challenges facing the middle class in today's economic environment.

CHAPTERS:

00:00 Debt is a tool, not the problem.

5:13 Trump’s tariffs plan

10:05 De-dollarization

 13:17 The strength of U.S. dollar

14:39 Threats that the U.S. dollar is facing

15:34 Return to the gold standard

 17:00 What should Powell be doing?

19:45 Lift the American middle class

21:34 U.S. debt

 41:10 Illegal immigration and border security

43:47 Final takeaways

https://www.youtube.com/watch?v=v7h4fvVtRAY

ALERT! THE WORLD ECONOMY IS FREEFALLING FASTER AND DEBT SATURATION IS MAKING IT WORSE.

Greg Mannarino:  10-17-2024

https://www.youtube.com/watch?v=jJykWabDYp4

Citigroup Sounds The Alarm On TOTAL Economic Collapse, Chase Bank Warning

Atlantis Report:  10-17-2024

As we end 2024, the ominous tune of a banking collapse looms large over the once-mighty Citigroup.

From its inception in the late 20th century, where it pioneered modern banking services, automatic teller machines, and credit card offerings, Citigroup has witnessed a relentless downward spiral since the housing crisis and financial meltdown of 2008.

Now, a collapse is nearer than ever before. Citigroup, one of the world's leading banks, has made a shocking announcement about the looming threat of a complete economic collapse.

 This alarming forecast comes amidst growing concerns over the state of the labor market, which has shown signs of deterioration that could have far-reaching consequences for the nation's economic stability. The warning has prompted governments, corporations, and individuals to prepare for an unprecedented economic calamity.

Before 2007, Citigroup stood prominently among the elite financial institutions in the United States, consistently delivering robust returns to its steadfast shareholders through both appreciating share prices and generous dividends.

 However, the culmination of the housing boom and the subsequent financial crisis pushed Citigroup to the brink, necessitating government intervention to navigate the resulting losses. Subsequently, Citigroup's stock struggled to regain its pre-crisis momentum, failing to recover from the setbacks of 2008.

Chase Bank and Citigroup have raised red flags, signaling a deep-seated issue within the banking sector. Nine percent of all bank branches in the U.S. have shut down since 2017. Earlier in the month, Citigroup informed the majority of its employees that they could work remotely for the final two weeks of December.

Workers are allowed to log in remotely from any location within their country of employment from Monday to December 29, a Friday, marking this week as the last in-person experience for many staff members this year, according to sources familiar with the situation.

 In contrast to last year when the perk was introduced, employees are now apprehensive about CEO Jane Fraser's comprehensive corporate reorganization, with some expressing concerns about the potential existence of their jobs next year. Citigroup has indicated that Fraser's assessment of the third-largest U.S. bank by assets will be concluded by the end of 2024.

https://www.youtube.com/watch?v=FI5Dw6Ya8KM

“Coffee With MarkZ” Thursday Morning Chat 10-17-2024

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

MarkZ  Update- Some highlights by PDK-Not verbatim

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

Member: Good Morning and Hope Springs Eternal!!

Member: Well I hope today is our day!

Member: [blink blink] it’s Thursday already over half of October gone. Time flies when you’re not having fun, lol.

Member: The RV feels like a buddy waiting to ask his girl to marry him … quit dragging your feet, and do it already.

Member: Mark, what is the good word for today?

MZ: “Iraq Parlianment expects to vote on Economic Reform laws soon”

Member” “Soon” is a 4 letter word.

MZ: This has to do with the Industrial investment law, and to me this is very important and one of the clear signs that we saw in their “white papers”. They are spelling out everything they have to do to support a higher rate.  They are doing the economic reforms to support this higher rate and lift up all Iraqis.

Member: Wondering how many steps are in Iraq before the process is done and we can RV?

MZ: “ Today Kurdistan government announces September salary payments”  they used to be a year or 6 months behind…but now in October they announce paying September salaries. To me this means money is moving. This is n HCL requirement that is happening. I think HCL is done and they are hiding the announcement.

MZ: “Finance launches third issue of Injaz government bonds for public subscription”  these are all brand new investment bonds in Iraq. It has a heck of an interest rate and stays denominated in IQD. The first round was only for Iraqi citizens but now it looks like this round is open to all others. I am hoping we have a revaluation before the bonds can be purchased

Member: The Injaz/Enjaz will be available April 15th through May 15th. interesting timing

Member: Any historic bond news or is it quiet as usual?

MZ: No money movement yet….some of the other bond holders had to put together more paperwork and are scheduled for next week. These are bonds that are other than the German bonds. We ned them to start seeing real spendable money. That will be when we start celebrating 

Member: I think  all the silent bond holders are under a nda possibly?

Member: How many times do they need to update paperwork and get put out another week?? Sounds like a big circle jerk session to me.

Member: They are supposedly working on German bonds now…Mark is talking about other bonds like Asian bonds and Zim bonds for next week.

Member: Mike Bara thinks maybe Iraq will go alone at first

Member: Iraq may be sick and tired of waiting on the rest of the world ….I sure am

Member: Re Mike Bara intel. If we go cash in Dinar/Zim if GCR doesn’t go…can we still redeem the other currencies when they go?

Member: Question: If Iraq goes first, will we be able to get SKR’s for our other currencies in advance of a GCR?

Member: If Iraq goes alone, can we just go to bank and cash in our Dinar and still be allowed to go to Redemption Center when the rest go?? Like Zims, Dong, etc. I don’t want to jeopardize things.

Member: you can go twice if they revalue at different times.

Member: I would be excited if Iraq went alone…..It would give all of us relief and make the rest of the world “hurry up” to catch up…..imo

MZ: I still believe all currencies are going together.

Member: (From dinar Guru)Guru Mnt Goat  Iraq is going to experience a “redenomination” of their currency meaning to execute the process of swapping out larger three zero notes for newer...lower denominations ...when you take money out of circulation...You cause deflation, which is revaluing your currency or making it worth more. There is also all the other assets and variables involved that will FORCE the system to bring back the dinar to its nominal value, finally. They are...doing this redenomination...to “normalize” their currency back to their “normal” denominations, as before the sanctions took place. They will also need a “normalized” rate and not this current “suppressed" rate...

MZ: Yes….spot on

Member: Last night, Frank said the first payroll is retro back to Feb thru August at the old rate, the second (possibly two weeks later?) is supposed to be at the new rate...

MZ: It could be….but to me it makes more sense to pay them at the old rate and then change the value.

Member: Did iraq just open a dinar redemption center?

MZ: They opened “deposit only” banking locations  to deposit cash in for the electronic banking system. The Iraqi people have more faith in the banking new banking system that is effective and efficient and cleaning up corruption from businesses. They can trace every transaction. And when the value changes…they don’t have to rush to the banks.

Member: I recently heard to expect the RV between the 22nd and 26th of October

MZ:  Based on what I am hearing out of the bond side…that makes sense.

Member: it is getting real ppl, get ready if you are not already

Member: Let's get this RV party started

Member: Thank you Mark for being a beacon of positivity .

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=ME6eNSyfbp0

Iraq News Highlights and Points To Ponder Thursday AM 10-17-24

They Brought In About 4 Billion Dollars.. Iran Receives More Than 4 Million Tourists, Led By Iraq, In Six Months

Wednesday,10-16-2024 Taisir Al-Asadi  The Iranian Ministry of Tourism revealed today, Wednesday, that Iraq topped the list of tourists arriving in Iran during the first half of this year.

Deputy Minister of Tourism, Ali Asghar Shalbavian, said, "Iran received more than 4 million and 168 thousand tourists in the last six months, bringing in about 4 billion dollars."

He added, "Most of the tourists entering Iran are from Iraq, Afghanistan, Turkey, Pakistan, Azerbaijan, Armenia, India, the Gulf states, China and Russia, respectively." https://non14.net/public/171135

Parliamentary Committee Talks About Economic Reform Law: It Reached Parliament Months Ago

Policy  2024-10-17 | 172 views   Sumerian News – Politics  Expected Committee Economy, Industry and Trade Parliamentary Committee, voting on the economic reform law during the next few days.

He said Deputy Committee Chairman Yasser Al-Husseini said, “The law reached the Council months ago. ”Representatives In general and to Committee The economy in particular, and it includes all laws that include the economic aspect,” according to the newspaper. the morning Official.

He added, "The committee held many workshops at all levels, whether for businessmen or industrial and economic experts," stressing that "the committee is proceeding with reading this."the lawAnd work on voting on it during the next stage in cooperation withCommitteesOther specialists.”

Al-Hussaini pointed out that “there are observations, whether fromRepresentativesOr by experts, and it will be included in a paper prepared alongside the law,” noting that “the committee is determined to vote on it with the available capabilities for what it deems important in this.”the lawWhich can bring about a major reform in the country's economic reality."

He also stressed "the importance of the Industrial Investment Law for the public and private sectors, to accurately diagnose this partnership," indicating that "the contracts concluded in accordance with thisthe law“It will be beneficial and profitable for both parties, unlike some contracts that have more negatives than positives in the industrial sector, which oblige the state to long-term, impossible conditions.”

He continued, “The committee is proceeding with voting on the industrial investment law, which is no less important than other laws, despite some objections that have prevented voting on it so far,” stressing that “the final stage of voting has been reached after consensus was reached between the political blocs objecting to its wording.”  LINK

Kurdistan Finance Deposits More Than 77 Billion In Non-Oil Revenues Into Baghdad Treasury

Local | 10/16/2024   Mawazine News - Baghdad   The Ministry of Finance and Economy in the Kurdistan Regional Government announced today, Wednesday, the transfer of more than 77 billion dinars to the federal treasury from the region's non-oil revenues.

The ministry indicated in a statement received by "Mawazine News", that "an amount of 77 billion, 841 million, and 761 thousand dinars was transferred to the bank account of the Federal Ministry of Finance at the Central Bank of Iraq / Erbil branch."

It continued, "This amount represents the share of the general federal treasury from the non-oil revenues of the Kurdistan Region of Iraq for the month of June." https://www.mawazin.net/Details.aspx?jimare=256012

The Trial Period For Raising The Prices Of Improved Gasoline Has Ended, And The Amount Of Revenues Is “Absent”

2024-10-17 By Sotaliraq  The Iraqi government seems to be hesitant about the public outrage if it reveals the results of raising the prices of “improved gasoline,” especially since the pilot plan ended more than a month ago, which indicates that there are “hidden obstacles” behind the issue, according to observers.

On March 26, 2024, the Council of Ministers voted in a session chaired by Mohammed Shia al-Sudani to increase the price of improved gasoline from 650 dinars per liter to 850 dinars per liter, and premium gasoline from 1,000 dinars to 1,250 dinars per liter, starting from May 1 for a period of 3 months, after which the situation will be re-evaluated.

According to expert estimates, Iraq lost approximately 3 trillion Iraqi dinars on importing improved gasoline (which is the value of government support for improved gasoline) during 2023, stressing that these numbers have been the same for years.

The government has not yet received the evidence,

and Iraqis have strongly criticized the decision to increase fuel prices, considering that this step “is sufficient to raise the prices of all materials in the markets.”

Speaking of numbers, the Oil Products Distribution Company said (July 16, 2024) that it sold about 977 million liters of gasoline (improved, regular, and super) during the month of June of this year, without disclosing the financial returns from these numbers.

In this regard, economic expert Nabil Jabbar Al-Tamimi believes that “Iraq’s imports of petroleum derivatives have increased over the past four years, as a result of the increase in consumption and the growing demand for fuel (high-octane improved) that local refineries do not provide.”

Al-Tamimi says that “annual fuel imports have reached about $3 billion, which is a large number and unreasonable for a country considered one of the largest oil producers to import gasoline at these numbers.”

The latest government move came months ago, according to Al-Tamimi, as a bold step to raise the prices of some petroleum derivatives by 20-30%, stressing that “this step was accompanied by the government’s opening of the Karbala refinery, and also the return of production lines in the Baiji refinery.”

This year, the Iraqi government reopened the northern refinery in Baiji in Salah al-Din Governorate after rehabilitating it, following its closure for more than 10 years. It also announced at the end of last year the opening of the Karbala oil refinery with a production capacity of 140,000 barrels per day, including “improved gasoline.”

Al-Tamimi added, “These refineries were able to cover a large percentage of imports, which amounted to 15 million liters per day,” adding, “Such a step may contribute at the end of the year to saving large amounts of money that go to imports, provided that the government makes reforms to the laws of public companies, including oil refining and distribution companies, to increase the treasury’s share of these revenues that came as a result of government steps to establish new refineries and open production lines, in addition to setting a new price for oil derivatives.”

A few days ago, the Ministry of Oil issued a new statement about “improved gasoline,” confirming that Iraq will achieve self-sufficiency in improved gasoline next year, while confirming that it has achieved self-sufficiency in gas oil and kerosene products.

The decision to raise gasoline prices will continue for a long time.

According to Nabil Al-Marsoumi, an economics professor in Basra, the cost of importing improved gasoline in 2022 is 1,700 dinars per liter, while the cost of importing regular gasoline is 900 dinars per liter, indicating that the state is losing money on all types of gasoline.

In contrast, Mustafa Hantoush, an economic researcher, says, “The government is currently unable to restore the price of improved gasoline to what it was before, except after exports stabilize at the new Baiji and Karbala refineries.”

According to Hantoush, Iraq is still heavily dependent on importing improved gasoline, as local production cannot meet the large and growing need in the Iraqi market.

Hantoush continues, saying, “The Iraqi citizen is the one most affected by the decision, given that raising the price of fuel always leads to raising the prices of all food and non-food items in the markets in general.”

Regarding the possibility of raising prices again, Hantoush expects that “the government is not currently considering such a step,” stressing that “the current prices of both improved and regular gasoline will remain like this for a long time.”

According to readings by economic experts, the government has been providing support of up to 20% of the value of improved and super gasoline over the past years, which has placed a burden on the financial budget.

Iraq consumes between 27 million and 31 million liters of gasoline per day, while production is about 50% of the market's need, according to experts.

Iraq has also imported gasoline and gas since 2003 until now at a cost of about 70 billion US dollars, and it also imported 26 million liters of gas oil per month. LINK

Iraq's 2025 budget returns to the forefront, so what are the demands?

In video  2024-10-17 | 2025 budget... demands to prepare a realistic formula for next year's budget tables.  About the general budget tables for the year 2025, amid demands for the necessity of preparing them realistically, with the possibility of investing the surplus in preparing the next year’s budget to create economic comfort.   Follow this full report on Alsumaria!  LINK

Petroleum Products: The Percentage Of Imports Of Derivatives Decreased To 50 Percent

10/16/2024  Mawazine News - Economy   The Oil Products Distribution Company confirmed on Wednesday that the government's plans have contributed to reducing the percentage of oil derivatives imports to 50%, indicating the date for ending the import file completely.

The Director General of the Oil Products Distribution Company, Hussein Talib, said: "The state was spending approximately $4.5 billion annually on importing products such as gasoline, gas oil and kerosene, and this spending is gradually decreasing with the continuation of projects aimed at achieving self-sufficiency."

He added: "Last year witnessed intensive follow-up to complete the stalled projects in the Ministry of Oil within the ministry's policy and the government program of the current government, as the ministry has set a program within a time plan to complete these projects."

He pointed out that "the most important project completed at the end of 2023 is the Karbala Refinery Project, which is considered a major source of local products, as it refines approximately 140,000 barrels of crude oil per day, with products that conform to global marketing specifications, including Super 95 octane gasoline, gas oil, kerosene and all other products."

He continued: "Operating the Karbala refinery and completing the refining projects in the northern region has reduced the import of petroleum derivatives, and ended the import of gas oil and kerosene, and reduced the import of improved gasoline from 15 million liters to 7 million liters per day, or 50%."

He stressed that "the Ministry of Oil is working to completely end the import of petroleum derivatives by 2025."   https://www.mawazin.net/Details.aspx?jimare=256029

Seeds of Wisdom RV and Economic Updates Thursday Morning 10-17-24

Good Morning Dinar Recaps,

Brazil Pushes BRICS to Shift From US Dollar, Advocating National Currencies in Global Trade

Brazil pushes for a shift away from the U.S. dollar within the BRICS alliance, advocating for more use of national currencies in trade among member countries.

As the group expands, discussions on alternative payment platforms are gaining momentum ahead of the BRICS summit in Kazan. Brazil aims to advance this initiative during its 2025 chairmanship, reflecting growing momentum among member states.

Brazil Advocates for National Currencies in BRICS Trade
Brazil’s Foreign Affairs Secretary for Asia and the Pacific, Eduardo Paes Saboia, stated on Tuesday that Brazil is advocating for a greater use of national currencies among BRICS member countries in global trade, aiming to reduce reliance on the U.S. dollar. 

Originally established in 2006 by Brazil, Russia, India, and China, the BRICS group was later joined by South Africa in 2011. In 2024, BRICS expanded further with the inclusion of Egypt, Iran, the United Arab Emirates (UAE), Saudi Arabia, and Ethiopia as full members.

Speaking to reporters, Saboia noted that discussions about this shift are already underway, stating that the issue of reducing the reliance on the U.S. dollar “has already been considered at meetings of finance ministers and heads of central banks” of the BRICS nations. Expressing optimism about the upcoming BRICS summit in Kazan, he was quoted by Tass publication as stating:

I hope that those discussions will be reflected in a certain way in the declaration in Kazan.

Saboia also confirmed that Brazil would continue pushing for an increased share of national currencies in trade among BRICS members during its chairmanship in 2025.

This initiative aligns with comments made by Russian Foreign Minister Sergey Lavrov in September, who mentioned that a report on alternative payment platforms for BRICS nations would be prepared for the Kazan summit. Lavrov said the report would explore “options for creating alternative payment platforms for settlements between BRICS member countries.”

Additionally, Dilma Rousseff, the president of the BRICS New Development Bank, revealed in October that the financial institution intends to “use national currencies for investing in the private sector of the economies of member states.” The Kazan summit will be a key event during Russia’s chairmanship of the organization, which has planned over 200 events this year.

@ Newshounds News™

Source:  Bitcoin News 

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STELLAR ECOSYSTEM IMPLEMENTS BLOCKAID SECURITY FEATURES

Stellar’s Lobstr and Freighter Wallets are the first to receive the new Blockaid security features

Blockchain security firm Blockaid announced the integration of its advanced Onchain Detection and Response (ODR) technology on the Stellar blockchain, starting with the Lobstr and Freighter wallet applications.

According to an Oct. 17 announcement viewed by Cointelegraph, the strategic partnership will bring real-time threat monitoring and rapid response capabilities to the wallets, with further integrations planned.

Blockaid’s Web3 services
Blockaid describes its services as being somewhat like an antivirus software for Web3 decentralized applications.

Ido Ben Natan, CEO of Blockaid, told Cointelegraph that the first wave of enhancements “alerts users whenever they interact with a dangerous transaction, DApp, or token.” He added that “by flagging malicious interactions, we’re protecting millions of users from scams and hacks.”

According to the company’s announcement:

“Blockaid’s Web3 security technology, trusted by Coinbase, Stellar, and Metamask, has scanned over 4.5 billion transactions, prevented more than 100 million attacks, and defended against potential losses exceeding $4 billion.”

In just the first half of 2024 alone, Blockaid inked deals with a number of blockchain firms in the industry including a Coinbase Wallet integration in March, and partnerships with 1inch and Avalanche Core Wallet in June.

Stellar
Stellar bills itself as a decentralized open-source blockchain platform for decentralized finance (DeFi), assets, and payments. Its primary token, XLM, has a market capitalization of $2.8 billion as of Oct. 16.

It’s purported to be faster and more efficient than more popular blockchain platforms such as Bitcoin thanks to its Federated Byzantine Agreement (FBA) algorithm, which handles consensus through a streamlined protocol.

As Cointelegraph reported in August, France-based fintech company Next Generation and Ireland-based electronic money institution (EMI) Decta announced a plan to reintroduce a euro-pegged stablecoin, EURT, on the Stellar blockchain.

The launch of EURT signifies a period of perceived relief from regulatory uncertainty for cryptocurrency and blockchain firms operating in the European Union. By all accounts, the stablecoin market appears to be surging under the Markets in Crypto-Assets (MiCA) regulation and increasing legal clarity.

@ Newshounds News™

Source:  CoinTelegraph 

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AUDIO REPLAY BOB LOCK: OCT 16, 2024 | Youtube

Bob Lock discusses his new book, "Managing sudden wealth through smart team building" as well as what the future might bring with a new financial system and ways to protect yourself with a possible stock market crash and/or bank failure.

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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🌍 Navigating Financial Uncertainty: Protect Your 401(k) and Assets!  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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