DJ, Nader and more.....Monday Afternoon 9-12-2022
DJ: DID YOU KNOW?
An inquiry from one of our readers to help try and explain some of the new financial tools and services, has come in. First off, they refer to an Intel source as “Goldilocks” where a large amount of this info is coming from. I am unfamiliar with Intel source or its content. But there is a term in the business world called “The Goldilocks Effect—or the Goldilocks Principle” Which is the premise that people are inclined to seek “just the right amount” of something.
In reference to various new financial tools and services and how will they be utilized? It can be best understood by looking at the fundamentals of finance. Which ultimately we are talking about currencies. All financial instruments are tied to some form of currency. Any currency is defined as “a system of money in general use in a particular country”.
Currencies make up a small amount of the overall money supply, much of which exists as credit money or electronic entries in financial ledgers. While currently currency values are based on supply and demand, future systems of value will be controlled by specific algorithms, literally by the second.
Certain things have to occur for a given currency to work. First the public has to have faith in the currency and by proxy, the issuer of the currency. This in turn creates “velocity” (or the rate at which consumers and businesses in an economy collectively spend money).
Then you have to analyze how money (or other financial instruments) is moved or its delivery systems. Delivery systems take various forms. Credit or debit cards are a delivery system. Interbank and cross- border transfers require a delivery system. SWIFT, PayPal, CIPS, Money-gram and many many others worldwide are all delivery systems. The delivery systems that have plagued the world for decades are all corruptible. Access to whatever system is being used allows the “accessor” to manipulate the outcome of the transaction. The new systems will utilize “quantum encryption”. Without getting into an explanation of quantum entanglement , basically a quantum encrypted message, if interrupted, will dissolve the message. Making it non corruptible.
The question of “cryptos” is brought up. “Are cryptos going to be necessary initially then go away?” There is a distinction between “ Crypto currency” and digital currency. Technically crypto is not a currency. The functional definition of digital currency means you can hold traditional currency in physical or digital form depending on how you store it. Dollars, pounds and euros can exist as digital currencies when they’re held and moved online. Cryptocurrency is purely virtual currency, meaning that it has no official physical asset that is recorded and stored on a blockchain database. When you own a cryptocurrency, you literally own an entry in a database. Profit or loss occurs when the entry is sold, or passed, to a new owner.
With the adaptation of these new financial tools and services we will see various new revenue creating streams for the banking industry. We are already seeing it. Instead of banks making their money off a variety of interest bearing instruments they are charging fixed fees for services and particular customized accounts. In reality we are already a digital world, now we just have to put our hands up and admit it. There will always be a need for physical currency in some amount. It won’t completely go away. Point of sale transactions or emergency situations will require physical currency.
For the past 20 years we have seen the slow but methodical transition to digital processes. The new systems are the natural metamorphoses needed to accommodate these processes to make them acceptable by the public, safe and secure.
DJ
https://www.rumormillnews.com/cgi-bin/forum.cgi?read=207347
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Courtesy of Dinar Guru
Nader From The Mid East I don't know if you saw the news this morning...they start exchanging money with the European countries. That mean you can walk to France or Germany or Italy, any European country and exchange your dinar. The bank in Europe soon will be accepting it. If they come out with this news 'we plan to develop something with European Union.' That means they already did it and they're just waiting for the execution...
Militiaman ...We all know that the IQD will likely fall within a basket at the AMF...The BUNA article today supports that within 2-3 weeks there will be more currencies going on-line with it...Once the IQD with an international calculation is applied and it is 100% IMF Article VIII compliant and placed into the basket...that value will be reflected in the balance sheets of the the other countries that have IQD...
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KTFA:
Samson: Central Bank Governor: The value of the dinar is stable, and we are in the process of raising Iraq from the high-risk countries
12th September, 2022
The Governor of the Central Bank, Mustafa Ghaleb Makheef, confirmed, on Monday, that the bank is in the process of raising Iraq from the “high-risk” countries according to the European Union classification, pointing to maintaining the stability of the value of the dinar “significantly.”
In an interview with the Journal of the Center for Banking Studies, he said, "The Central Bank has contributed significantly to maintaining the stability of the value of the dinar, bearing, for this purpose, the costs of imbalance in the cash flow of the general budget."
He added, "We seek to work on activating indirect monetary policy tools, as well as adopting a policy of quantitative easing through the initiatives of the Central Bank, which amounted to about 18 trillion dinars."
He went on to say, "We are in the process of removing Iraq from the high-risk countries according to the European Union's classification."
He continued, "Work is currently underway with a number of sober international banks to create the necessary ground for banking cooperation with Iraqi banks that have outstanding performance and have a credit rating from accredited rating agencies." LINK
Iqd euro
Nader from the Mid East: 9-12-2022
Central Bank Governor: We seek to develop banking relations with European Union countries
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