More News, Rumors and Opinions Sunday Afternoon 3-24-2024

TNT:

Tishwash:  Sulaymaniyah...a paralyzed life "in work and money" and 20 additional departments will join the strike tomorrow - urgent

 Today, Sunday (March 24, 2024), 21 government departments went on strike due to the delay in disbursing employees’ salaries in Kurdistan for the month of February.

The streets of Sulaymaniyah witnessed a complete absence of traffic police, causing problems at a number of major intersections, especially those without a traffic light.

Tomorrow, the strike will expand to include more than 40 districts in Sulaymaniyah, Halabja, Rania, Garmian, Qalaat Diza, Sayyid Sadiq, Darbandikhan and other areas.

Dana Zangana, a member of the Protest Committee in Sulaymaniyah, said in an interview with “Baghdad Today” that, “Tomorrow, educational staff, lecturers, and employees will demonstrate, and the strike will continue, and the demonstration may turn into an open sit-in.”

He added, "The demonstration aims to convey a message to the federal government that we do not want to settle our salaries except in federal banks exclusively, and we reject the My Account project affiliated with the regional government banks."

The markets of Sulaymaniyah are witnessing an unprecedented recession and a complete absence of preparations to receive the blessed Eid al-Fitr, as the city was crowded with thousands of families who went to the markets on the nights of Ramadan to shop and prepare for the blessed holiday, due to the lack of financial liquidity among the driving segment of the economy in the market, who are the employees. link

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

CandyKisses:  Adviser to the Prime Minister: Approving the 2024 budget schedules in the House of Representatives does not hinder their implementation

 {Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed that the House of Representatives’ approval of the financial budget schedules for the year 2024 does not hinder their implementation.

Saleh told {Al-Furat News} agency, “The federal tripartite general budget issued pursuant to Law No. 13 of 2023 differs from the annual budgets that are subject to Financial Management Law No. 6 of 2019, amended when the approval of its legislation was delayed, as the Federal Financial Management Law stipulates in one of its paragraphs, that In the event of a delay in approving the general budget law for the new fiscal year, disbursement will be made at a rate of 1/12 of the actual ongoing or current expenditures for the previous year.”

He stated, “The federal tripartite general budget issued pursuant to Law No. 13 of 2023 differs from the annual budgets that are subject to Financial Management Law No. 6 of 2019 amended when the approval of its legislation is delayed, as the Federal Financial Management Law stipulates in one of its paragraphs that in the event of a delay in approving the budget law General expenditure for the new fiscal year shall be made at a rate of 1/12 of the actual ongoing or ongoing expenses for the previous year.

Saleh explained, “Approving the general budget law for three years does not provide legal conditioning for the implementation of the effective administration law as long as the general budget has been enacted according to the law for three years. Therefore, I do not see that the financial tables prepared for approval by the House of Representatives constitute an obstacle to the progress of implementing the plan.”

Finance for the year 2024, in its operational and investment parts, and stopping the wheel of public finance, especially its investment part linked to development and economic prosperity, awaiting the approval of the amended budget schedules approved by the executive authority until it is approved by the House of Representatives, as if the matter requires new legislation that delays the purpose of adopting the three-year budget and the investment in time it entails. ".
At the same time, he noted that “the tripartite budget experiment is a financial experiment taking place for the first time in our country. If its goal was and still is to stabilize the adoption and implementation of national development projects without delay related to the annual budget and its annual legislation, then the disruption of its implementation means a return to the annual budget square.”

 Here, the fundamental difference must be made clear between implementing the budget that is enacted on an annual basis and the budget that is enacted on the basis of an average time frame, such as the tripartite general budget issued by Law 13 of 2023.”

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

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

Militia Man  Article quote:   "Iraq joins FEMOZA" It's the World Federation of Free Economic Zones.  Why is this important?  Iraq has accession to this...We have the accession law to join the European Bank and now we have the accession to the World Free and special economic zones federation...Both of these entities are about finance and building new industrial cities.  If you don't think Iraq is going to go international, you might think again...

Frank26  Article: "Statement from Press Secretary Karine Jean-Pierre on the Visit of Prime Minister Mohammed Shia’a Al-Sudani of Iraq to the White House On April 15"  SUDANI IS NOT GOING TO DC TO GIVE A NEW EXCHANGE RATE... HE IS GOING TO ACTIVATE IT!

This Is How The Dollar Dies | Mario Innecco

Liberty and Finance:  3-23-2024

Central banks around the world are moving back toward easing. The stock market is continuing to hit new all-time highs.

Gold has also risen to all-time highs while silver has made recent substantial gains as well.

The crack up boom has started, say Mario Innecco. He expects prices to continue to rise and even hyperinflation is possible.

INTERVIEW TIMELINE:

0:00 Intro

1:20 Central banks easing

7:24 Silver update

 12:00 Inflation rate

14:30 Fed is trapped

 16:05 Preparedness

https://www.youtube.com/watch?v=pIpOjjV9vp4

Eight Financial Giants Pay Settlement Over Widespread Fraud and Collusion Allegations

Eight Financial Giants Pay Settlement Over Widespread Fraud and Collusion Allegations

Saturday, 23 March 2024, 22:11 PM

JPMorgan Chase, Bank of America and Six Financial Giants Pay $70,000,000 Settlement Over Allegations of ‘Widespread Fraud and Collusion’

Henry Kanapi

Eight financial giants are shelling out tens of millions of dollars to settle a decade-long whistleblower lawsuit.

JPMorgan Chase, Bank of America, Citigroup, Morgan Stanley, Fifth Third Bancorp, Barclays, Bank of Montreal (BMO) and William Blair were sued in 2014, accused of reaping millions in illicit profits by rigging interest rates on municipal bonds.

The whistleblower, identified in the lawsuit as Edelweiss Fund LLC, says the firms have paid $70 million to settle the lawsuit.

Edelweiss accused the group of Wall Street firms of “widespread fraud and collusion” after the state of Illinois hired them to market municipal bonds known as variable rate demand obligations (VRDOs) at the lowest possible interest rates.

VRDOs are tax-exempt bonds issued by municipalities to get long-term financing, usually spanning 20 to 30 years.

But instead of marketing the bonds at low interest rates, the banks allegedly inflated the rates to generate millions of dollars in fees and discourage investors from converting the debt securities to cash.

With the settlement “finalized and executed,” the state of Illinois is set to collect $33.6 million while Edelweiss principal Johan Rosenberg will receive $14.4 million as a reward for bringing the lawsuit on behalf of the government. The remaining $22 million will be set aside to pay for the legal expenses incurred by Edelweiss through the years.

Says Rosenberg,

“My goal when I started scrutinizing the manner in which rates on VRDOs were reset in about 2010 was to shine a light on this market because of the benefit the public receives from the critical government projects that VRDOs fund.

In the years since the litigation began, we have uncovered much that was unknown about how this market is operated and how remarketing agents behave.” 

Source: The Daily Hodl

https://dinarchronicles.com/2024/03/23/eight-financial-giants-pay-settlement-over-widespread-fraud-and-collusion-allegations/

"Tidbits From TNT" Sunday 3-24-2024

TNT:

CandyKisses:  Political: The Sudanese government has the keys to removing US forces

Information/private.

Political analyst Adnan al-Saadi said on Saturday that al-Sudani's upcoming visit to America in the middle of next month, which will discuss the file of the exit of US forces, may change the equation for those forces to remain in Iraq.

 Al-Saadi said in a statement, to the agency / Information /, that the Iraqi factions and political forces reject the stay of US forces and there is great popular discontent rejecting the Americans, noting that "the Iraqi forces and the Popular Mobilization are able to protect the country from any internal or external threat."

He added that, "Sudani's visit to America will discuss the file of dollar prices and I do not expect them to decline and win the file as it is the only US means of pressure on Iraq to maintain its forces."

Al-Saadi concluded: "The Sudanese has a great force that supports him in the file of the exit of US forces, represented by the coordination framework, noting that there are" many meetings of the framework that talked about the file of the exit of US forces and developed many proposals."

It is noteworthy that the strategic framework agreement between Iraq and America can be amended and canceled as it is, according to specialists.

Prime Minister Mohamed al-Sudani's visit to the White House is the first since he became prime minister.

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

Tishwash:  Iraq informs the World Bank of its plan to support the economy’s resources

Minister of Finance, Taif Sami Muhammad, stressed the importance of the partnership with the European Bank to support the Iraqi government’s plan to diversify the sources of the national economy.

A statement from the Ministry of Finance, a copy of which was received by the Mail, stated that “Minister Taif Sami Mohammed met with the President of the European Bank for Reconstruction and Development ( EBRD ), Odile Renaud-Basso, at the bank’s headquarters in the United Kingdom, and the Minister of Finance began her meeting with the President of the European Bank for Reconstruction and Development.” Referring to the strategic partnership between Iraq and the Bank, and discussing ways to strengthen bilateral relations to ensure the possibility of strengthening the private sector in Iraq and digitizing the banking system.

The Minister of Finance stressed “the importance of the partnership with the European Bank to support the Iraqi government’s plan to diversify the sources of the national economy,” noting that “the Iraqi government’s priorities are investing in the areas of energy and digital transformation in the financial infrastructure.”

For her part, Odell stressed “the bank’s desire to work in Iraq and contribute to supporting the private sector and renewable energy   link

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

CandyKisses:  Kurdistan details the "secrets" of its financial differences with Baghdad. This body obstructs the agreements

Economy News - Baghdad

The Minister of Finance and Economy in the Kurdistan Region, Awat Sheikh Janab, announced that not sending salaries from 300,000 to 360,000 of the region's employees by the federal government "is tantamount to planting a time bomb and provoking division within society" by a political decision, and while he pointed out that the deep state is the one that controls the Iraqi scene, he stressed that the number of employees of the region is less numerous compared to Iraq by 16%.

Sheikh Janab said in a television interview with a group of local media that he headed the negotiating delegation of the Kurdistan Regional Government with Baghdad for a long time, noting that the delegation was insisting on treating the region's employees like the employees of Iraq, and as a result an agreement was reached last April sponsored by the President of the Kurdistan Regional Government, Masrour Barzani, and the President of the Federal Government, Muhammad Shia Al-Sudani, but the deep state in Baghdad retracted the agreement one month after its conclusion.

He explained that "the deep state is the one that governs Iraq and it is known what these parties are, while all those in the political scene are not key actors in it, but only tools to implement the policies of the deep state," noting: "In the event of a political agreement between Erbil and Baghdad, all problems will be addressed, without which we will return to square one."

He added that the region has its constitutional powers of parliament, government, election commission, oil industry and independent finance, and the constitution recognized this as well as the federal system, adding that "what is happening now by the Federal Court is contrary to the constitution, and the President of the Federal Court from Amman stated that the current constitution is inappropriate."

He pointed out that the Ministry of Finance of the region has fulfilled all its obligations and prepared the lists of employees for the month of March.

In response to a question about whether obstructing the sending of salaries is the responsibility of the Iraqi Minister of Finance, Sheikh Janab said, "Unfortunately, a bad image is conveyed about the Federal Minister of Finance, Mrs. Taif Sami, but what I know about her is that she is a professional figure and does not consider herself a politician and does not have political support, but because of the decision of the Federal Court, so she implements the decision strictly."

He attributed the cause of the main problem to an emerging political situation in the Kurdistan Region since 2014 by a decision of the federal government by linking the share of the Kurdistan Region to actual spending "with the aim of limiting the development of the region, and this constitutes an injustice against Kurdistan, followed by other unfair decisions such as reducing the region's share from 17% to 12.6%, and linking everything to the oil file, and this is like Othman's shirt to justify those decisions that contain clear and flagrant injustice."

He pointed out that sending the salaries of the employees of the Kurdistan Region is incomplete is tantamount to planting a time bomb, dividing society and throwing fire in the Kurdish house, by not sending salaries from 300,000 to 360,000 employees, stressing that accepting some decisions turns them into a fait accompli, so solving the matter requires a lot of wisdom and patience.

He went on to say that "the number of our employees in the Kurdistan Region is much less than the employees of Iraq, where we have about one million and 200 thousand employees, which is less compared to Iraq by only 16%."

He stressed that it is not possible to cover the remaining salary deficit because local revenues are insufficient, explaining that attempts are continuing to reach a solution "where we will distribute salaries as soon as the full amount arrives".

He expressed optimism that this will be achieved, noting that "things are moving towards a solution and there is a preliminary agreement with Baghdad on the salaries of military personnel, where we send lists through special codes that can be audited by the financial control."

He also referred to the PMF, saying that the budget law does not include any note about the PMF, despite the fact that their numbers are large and they do not receive their allocations from the Federal Ministry of Finance, but from the Iraqi Cabinet Office.

He stressed that delaying the salaries of the employees of the Kurdistan Region is linked to a political decision imposed on us, which can only be solved by a political decision, pointing to the impact of political interference in salaries, as each time a decision was required by the Iraqi Council of Ministers to pay the salaries of the region's employees because of the control of partisan and political influences in this matter.

He stressed that the region is the product of 100 years of struggle and should not allow everything that affects the entity of the Kurdistan Region, and that treating the region as a province and weakening the regional government means weakening all Kurdish parties, explaining that what the Federal Court practices represents interference in the work of the executive and legislative authorities.

On the oil file, the Minister of Finance of the region said: "Out of 14 oil fields, we now have only 9 operating fields, and since April 1, 2023 until now, these fields have produced 45 million barrels, of which 11.8 million barrels have been delivered to Iraq from June 25, 2023 until December 1, 2023, without Baghdad paying the cost of producing or transporting a single barrel of them, and the rest of them is 33 million barrels, and according to contracts, 45% of them go as dues to oil companies and 55% to the regional government." , indicating that the average price per barrel of oil is $ 31.

As for non-oil domestic revenues, he revealed that they amount to 300 billion dinars, of which 180 billion goes as operating expenses and petty cash ministries, and 22 to 24 million dollars of which are paid to Dana Gas for electricity production.

He also pointed to an account project in coordination with the Central Bank of Iraq and Iraqi banks, where 250,000 employees have been registered so far and the registration of all employees is scheduled to be completed until the end of this year, "and it can be used to localize the salaries of employees."

Al-Sudani had previously acknowledged that the mechanism for distributing the salaries of the region's employees was not the work of the federal government, but that interference in this matter was a violation of the constitution

Mot:  the Pastor Announced ~~~~

Mot: . Helping the ""Wee Folks"" to Learn!! – LOL

News, Rumors and Opinions Sunday Morning 3-24-2024

KTFA:

Godson:  Imo.. all I know is First quarter is all most over..

Clare:  Parliament Finance confirms the increase in the size of the 2024 budget.. What are the reasons for delaying its sending?

3/23/2024 Baghdad

Today, Saturday, the Parliamentary Finance Committee confirmed that the size of the federal budget had risen to 207 trillion dinars, explaining the reasons for the delay in the general federal budget schedules reaching the House of Representatives for approval.

Moeen Al-Kazemi, a member of the Parliamentary Finance Committee, commented on the issue by saying that the delay occurred with the Prime Minister’s Office or by the Office of the Council of Advisors.

Al-Kadhimi explained, “The Ministries of Finance and Planning have completed their work regarding the budget schedules, as the amendments were supposed to be sent before the end of 2023.”

He added, “If the amendments are sent, the Finance Committee in the House of Representatives will review them and then present them to the Council for approval.”

He pointed out that “the approved budget is a tripartite budget for the years 2023, 2024 and 2025, and it is natural that amendments will be made to it by the government to some numbers that it deems necessary,” noting that “the amendments led to an increase in the size of the budget from 199 trillion dinars to 207 trillion dinars.” Iraqi".

The Legal Committee announced earlier today that the financial budget schedules for 2024 will soon reach the House of Representatives.

On March 13, the Ministry of Finance announced the completion of data related to the 2024 budget schedules, the inclusion of texts, and sending them to the Council of Ministers. LINK

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

Clare:  Biden to Host Iraqi PM Sudani on April 15, White House Says

 Biden and Sudani will consult on issues including ISIS, Iraqi financial reforms and energy independence, the White House said in a statement.

RMF:  Discussing financial reforms post Ramadan implies no new rate prior ??  Any thought ?

DMcCall:  The reforms are MUCH more than a rate reinstatement! Reforms will deal with international interactions and that requires an international rate ASAP! This process has nothing to do with the White House, or the US as a whole! Iraq is free now and is making decisions for Iraqi citizens and not US citizens…Just my OPINION!

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

Henig: Vietnam

Regulatory sandbox to be developed for three fintech solutions only

March 19, 2024 - 07:29

In the latest draft, the regulatory sandbox will be developed for three fintech solutions, including credit scoring, open application programming interface (API) and P2P lending.

HÀ NỘI — The State Bank of Vietnam has submitted to the Government a draft decree on a regulatory sandbox for fintech in which the pilot implementation will be carried out for only three solutions, credit scoring, open application programming interface (API) and P2P lending.

After seven versions of the draft which have been developed since 2023, the latest version reduced the number of fintech solutions for the regulatory sandbox from six to three on limited resources for implementation.

Previously, six solutions were proposed which also included extension of credits on technology platform, technology-based solutions (including blockchain) and other banking support services in line with the sandbox programme.

The central bank said that the regulatory sandbox will be implemented for three solutions to ensure appropriateness to the resources. The implementation of the sandbox will last a maximum of two years.

The central bank will decide the scope of fintech solutions offered sandbox implementation, including but not limited to transactions limits and the number of participants.

The banking industry in recent years has witnessed a strong rise of new technologies application, the central bank said.

In Việt Nam, fintech development was robust with the participation of technology start-ups and non-bank organisations in the banking and finance sector through the provision of solutions to support banking activities without directly providing services to end-users or independently.

The fintech boom has pushed financial and monetary management agencies into difficulties in supervising risks such as money laundering and terrorist financing, in ensuring network security, protecting user data and rights of consumers and investors. The absence of regulatory framework poses challenges in harmonising the promotion of innovation and fair competition with traditional financial institutions, and put fintech companies into limbo.

The absence of regulatory framework also caused a number of problems.

For example, the emerging of P2P lending in Việt Nam recently with the lack of transparency and regulatory framework led to negative phenomena such as predatory lending and disputes.

Many countries have developed regulatory sandbox policies for fintech which will become a base to evaluate feasibility, benefit and risk of the solutions, to develop appropriate responses and decisions, the central bank said. — VNS     LINK

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

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

Frank26  When this blessing occurs don't run to the bank.  Don't trip over yourself and others.  Walk.  Take your time.  Learn.  Look.  Ask questions.  Learn from other's mistakes.  That's what a wise person does.  Don't run to the bank.  Take your time and understand exactly what you're doing.

Jeff   Article: "The White House announces the date of Sudanese's visit to Washington"  Three articles tell you that on April 15th Iraq's prime minister Sudani will come to Washington DC to meet with Joe Biden and US official...Iraq has just officially give you the rate change date in these articles.  No it is not April 15th.  April 15 is not your rate change date... (Kuwait March 24,1991.  Sunday.)    

Salah opening on European banks

Nader:  3-24-2024

https://www.youtube.com/watch?v=cjJU7nooyvM

Economist's "News and Views" Saturday 3-23-2024

Bill Holter- A Banana Republic is Issuing the World's Reserve Currency

Silver Bullion TV:  3-22-2024

Patrick Vierra from SBTV spoke with retired stock broker and precious metals expert Bill Holter. Bill lays out the state of the economy, money, precious metals, and where we are headed.

Another half-hour of power is just a click away!

Discussed in this interview:

01:08 Silver and gold price action

06:37 The Federal Reserve

 10:23 You can't handle the truth

19:07 CBDCs...one world currency?

22:00 Gold - an investment or insurance?

https://www.youtube.com/watch?v=wxKYhK9qEuw

RED FLAG: Gold SOARS As WW3 Fears Drive De-Dollarization and Fed's Policy Signal Turmoil In 2024

Lena Petrova:  3-22-2024

https://www.youtube.com/watch?v=ru0es0J-rXI

We’re Not Being Told The Truth About The Economy As Layoffs Skyrocket

Atlantis Report:  3-23-2024

The global economy is once again facing a critical juncture reminiscent of the 2008 financial crisis, with signs pointing to a planned crisis in the making.

The radical effect of the collapse of Lehman Brothers on the job sector in 2008 is a reminder of how delicate the employment sector truly is.

Now, another trend is springing up– companies are letting their workers go en masse, not because they’re failing but because they’re now aiming for new levels of success. This is beyond scary.

https://www.youtube.com/watch?v=UaC_lUSg-Hw

Financial revolution or regression? The covert push towards a Central Bank Digital Currency through centralized asset tokenization.

A Wolf in Sheep’s Clothing: The Secret CBDC Agenda Behind Tokenizing All Financial Assets

On March 22, 2024 By Awake-In-3D

In CBDCs and Digital Finance

Financial revolution or regression? The covert push towards a Central Bank Digital Currency through centralized asset tokenization.

In case you missed it, during a conversation with Bloomberg on January 4th, 2024, Larry Fink, the CEO of BlackRock, cast a spotlight on what he perceives as the inevitable future of finance: the tokenization of all financial assets.

We believe the next step forward will be the tokenization of financial assets, meaning that every stock and bond will have its own unique identifier and be recorded onto one general ledger. Every investor, including you and me, will have our own number or identification.

Larry Fink, CEO BlackRock

With conviction, Fink outlined a future where every stock and bond not only boasts its own unique CUSIP identifier but also finds a place on a unified digital ledger.

What is a CUSIP?

A CUSIP (Committee on Uniform Security Identification Procedures) number is a unique identification code assigned to all stocks and registered bonds in the United States and Canada. CUSIP numbers are used by brokers, dealers, clearing corporations, and depositories throughout the securities industry to support the accurate and efficient clearing and settlement of securities, as well as in reporting and record-keeping activities.

The implications of this shift are monumental, yet beneath the surface, there’s a narrative unfolding that suggests a move towards something much larger – a Central Bank Digital Currency (CBDC), albeit cloaked in the guise of modernization and efficiency.

Let’s break down Fink’s vision into simpler terms.

Imagine a world where every financial asset you own is transformed into a digital token, a kind of virtual representation that lives on a blockchain.

This isn’t just about making things digital – we’ve had digital banking for decades. No, this is about fundamentally changing the way these assets are recorded, traded, and owned.

Each of these tokens would be as unique as a fingerprint, tied to a massive, all-seeing ledger that tracks who owns what in real-time.

Here’s where the bait-and-switch scenario deepens.

By centralizing financial assets onto a single ledger, we edge closer to a system that mirrors the characteristics of a Central Bank Digital Currency.

For the uninitiated, a CBDC is a digital form of a country’s fiat currency, issued and regulated by its central bank.

The concept may sound benign or even beneficial at a glance, promising increased efficiency, reduced illicit activities, and a more inclusive financial system.

However, the shift towards a ledger-centric financial world, as posited by Fink, carries with it dystopian implications for privacy, autonomy, and control.

The adoption of a ledger-centric system, underpinned by the principles of tokenization, could be the trojan horse for CBDCs, sneaking under our radar in the guise of technological progress

A single (central or unified) ledger, particularly one with ties to or under the influence of central banking systems, could provide unprecedented oversight over individuals’ financial transactions.

This could potentially lead to a scenario where financial privacy is significantly eroded, as every transaction becomes an open book to certain eyes.

Moreover, the idea that this system could serve as a foundation for CBDCs isn’t far-fetched – even if it isn’t named or designated as a CBDC.

With assets tokenized and centralized, the leap to a government-issued digital currency that operates within this framework is short and straightforward. Such a move could herald a new era of monetary policy, where central banks have direct control over the money flowing in and out of individual wallets.

Critically, this isn’t just about what we stand to gain – instant settlements, enhanced efficiency, and the democratization of financial strategies. It’s also about what we might lose.

The adoption of a ledger-centric system, underpinned by the principles of tokenization, could be the trojan horse for CBDCs, sneaking under our radar under the guise of technological progress.

I recognize the transformative potential of tokenization and the efficiencies it can bring to the financial sector.

However, we must also be wary of the broader implications.

The path towards a single ledger system could very well be the path to a centralized digital currency, changing the face of financial privacy, autonomy, and control in the digital age.

Transcript of BlackRock CEO, Larry Fink Interview

“We believe the next step forward will be the tokenization of financial assets, meaning that every stock and bond will have its own unique identifier (CUSIP) and be recorded on one general ledger. Every investor, including you and me, will have our own number or identification. This approach could rid us of all issues surrounding illicit activities related to bonds and stocks by digitalizing them through tokenization. More importantly, tokenization allows for the customization of strategies to fit every individual. We would benefit from instantaneous settlement, considering the current costs associated with settling bonds and stocks. If everything were tokenized, transactions would be immediate, as each would simply be a line item on the ledger. We believe this represents a technological transformation for financial assets.”

“Another aspect worth discussing is voting and the choices it entails. If we know at every moment who the owner of a stock is, then when it’s time to vote, every individual owner can be identified and allowed to vote their own shares. This raises the question: Is this the end of mutual funds? While many people might consider mutual funds merely a wrapper, it’s not the end of them. However, I would argue that the dominant form of bringing products to market going forward will likely be in the form of ETFs (Exchange Traded Funds).”

Watch the Bloomberg interview with Larry Fink here:

https://youtu.be/HTveRlW7QPo

© GCR Real-Time News

Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog
Join my Telegram Channel to comment and ask questions here: GCR_RealTimeNews
Follow me on Twitter: @Real_AwakeIn3D

https://ai3d.blog/a-wolf-in-sheeps-clothing-the-secret-cbdc-agenda-behind-tokenizing-all-financial-assets/

Goldilocks' Comments and Global Economic News Saturday 3-23-24

Goldilocks' Comments and Global Economic News Saturday 3-23-24

Good Evening Dinar Recaps,

"On 26 February 2024, the European Council adopted a new regulation, the Instant Payments Regulation. This will make instant payments in euro fully available to consumers and businesses in the EU and in EEA countries."

While Global Digital Payment Systems are moving to T+1 settlements, Europe is pressing their banking system to move to instant settlements.

What Europe learns from being a first mover on the markets in instance settlements will help them formulate their Global CRYPTO Regulations (MICA).

Our Tokenized Assets are continuing to interface with other Digital Global Assets around the world through Protocol 20. At the same time, we are witnessing the birth of a new regulated payment system moving towards instant payments.

Europe has already confirmed that their new instant payments regulation will go into effect on April 8th, 2024, and Ripple is a part of it.

It was stated in the article that Europe is doing this to create their own financial autonomy. In essence, this move is one that each country will begin taking as they onboard their payment systems into the QFS.

This is why being Basel 3 compliant around the world is so important in creating countries that have their own Sovereignty.   Electronic Payments International

© Goldilocks

~~~~~~~~~

Vietnam Sandbox Announcement:

"In the latest draft, the regulatory sandbox will be developed for three fintech solutions, including credit scoring, open application programming interface (API), and P2P lending."

We are witnessing Sandboxes popping up everywhere in several countries. The Sandboxes test cryptocurrencies and Stablecoins from around the world.

It is a way for countries to test new Digital Currencies being processed within their new Digital Financial System.  Many countries are beginning to test and form regulations for cross-border International trading among countries this year. As these new Digital Payment Systems are tested and approved, the ability to move these particular assets across borders will help in foreign trade and foreign currency exchanges.   Vietnam News

© Goldilocks

~~~~~~~~~

Many countries around the world are currently testing new payment systems with their own Stablecoins. Throughout the year several countries will be exchanging their Stablecoins with one another.

Remember, Stablecoins represent a country's currencies. These cryptocurrencies will be utilized in trade and cross-border payments.

Once these Stablecoins are fully regulated and given the green light to move forward. The next step will be for them to have a Credit Valuation Adjustment. Dinarland references this as a revaluation.

The Credit Valuation Adjustment is inside the derivative market, and this includes foreign currency.

Hong Kong is pointing to a January the 1st, 2025 date to begin this process of credit valuation adjustment for themselves. This does not mean that other currencies cannot go before this one or have a float leading up to this date ie Nigeria's currency.  It just simply means HK has a tentative date.

© Goldilocks
Regulation Asia
CryptoPolitan
Ideas

~~~~~~~~~

Massive price action distortions are beginning to form on the markets.

© Goldilocks

~~~~~~~~~

Prices of Existing Homes in Germany Tank 14% so far, as ECB-Fueled Housing Bubble Turns into Housing Bust | Wolf Street

~~~~~~~~~

BREAKING: The Automated Market Maker (AMM) is live now! | Twitter

~~~~~~~~~

BOOOOOOOOOM!!!! Ripple partner ACI Worldwide which supports 9 percent of global SWIFT traffic has confirmed that the new Instant Payments Regulation will come into effect on 8 April 2024! Twitter

~~~~~~~~~

HONG KONG—The adoption of new mediums of exchange, including retail Central Bank Digital Currency (CBDC), tokenized deposits and stablecoins, could potentially add an additional HK$160 billion of GDP for Hong Kong by 2032, according to a whitepaper released today. The whitepaper highlights some of the potential benefits for using retail CBDC in Hong Kong (i.e., e-HKD) and identifies requirements to help fully realize them. |  BCG

~~~~~~~~~

BlackRock unveils crypto fund first with $5 million minimum. The world's largest asset manager is extending its interest in crypto with a tokenized fund on Ethereum. | The Street

~~~~~~~~~

Stablecoins have recently achieved a significant milestone, surpassing $150 billion in market capitalization, with daily trading volume reaching $122 billion. This achievement marks a notable resurgence and growth in the stablecoin sector, with implications for the broader cryptocurrency ecosystem. | News BTC
~~~~~~~~~

In the rapidly evolving crypto landscape, the tokenization of real-world assets (RWAs) is emerging as the cutting-edge frontier, captivating investors and industry pioneers alike with its burgeoning potential and surging investments. 

What RWA tokenization means is putting traditional assets on a blockchain. This is a way of representing ownership of an asset through a token. The assets involved could be anything from stocks, bonds, gold, and commodities to treasuries, debt, real estate, art, intellectual property, and much more. Securities

~~~~~~~~~

SEC CHAIRMAN GENSLER LEADS CRYPTO OVERSIGHT PUSH WITH $2.6 BILLION BUDGET PROPOSAL | Cryptopolitan

~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline

Goldilocks' Telegram Room

Q & A Telegram Room

Goldilocks on the Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

The Signal For The Currency Reset | David Morgan

The Signal For The Currency Reset | David Morgan

Liberty and Finance:  3-22-2024

Once the Fed’s interest rates start, the Dollar as we know it will be on its way out, says David Morgan of The Morgan Report. Instead of allowing the Dollar to hyper-inflate, there will be a currency reset involving a new monetary system, possibly as soon as 2025, he predicts. He discusses the recent price rises in gold and silver.

Gold hitting new all-time highs is no surprise, he says, despite what the mainstream as been reporting. Metals are likely to go higher, but it will be a volatile ride, Morgan notes.

INTERVIEW TIMELINE:

 0:00 Intro

1:30 Gold and silver update

14:42 Gold & freedom

 20:10 Currency reset

https://www.youtube.com/watch?v=HMuehZ-C6Qw

"Tidbits From TNT" Saturday 3-23-2024

TNT:

Tishwash:  Iraq is ninth in the world in natural resource reserves.. Russia is first and America is second

 Iraq was ranked among the top ten countries possessing the most valuable natural resource reserves, in terms of total estimated value for the past 3 years.

According to the Statista website, natural resources are the raw inputs used to make everything that is used, from intermediate goods to final products, and these resources are found in the ground among reserves that have not yet been extracted.

According to Statista estimates, Russia came in first place, with the value of its natural resource reserves amounting to $75 trillion. This amount includes coal, oil, natural gas, gold, timber, and rare earth minerals.

The United States came second, and the estimated value of its natural resources is estimated at about 45 trillion dollars, approximately 90% of which is wood and coal.

Iraq ranked ninth, as it possesses $15.9 trillion in natural resources, and its desert terrain contains oil, natural gas, phosphate and sulfur, according to the site.

Iraq is the second largest producer of crude oil in OPEC, ranks fifth in the world in possessing proven crude oil reserves, and relies on the export of crude oil to obtain a large amount of its revenues.  link

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

CandyKisses:  Parliament finances confirm high size of 2024 budget. What are the reasons for the delay in sending it?

 Economy News - Baghdad

The Parliamentary Finance Committee confirmed on Saturday the increase in the size of the federal budget to 207 trillion dinars, explaining the reasons for the delay in the arrival of the general federal budget tables to the House of Representatives for approval.

Mueen al-Kadhimi, a member of the parliamentary finance committee, commented on the issue by saying that the delay occurred at the Prime Minister's Office or by the Office of the Advisory Committee.

Al-Kazemi explained that "the ministries of finance and planning have completed their work regarding the budget tables, as the amendments were supposed to be sent before the end of 2023."

"If the amendments are sent, the House Finance Committee will review them and then present them to the House for approval," he said.

He pointed out that "the approved budget is a tripartite budget for the years 2023, 2024 and 2025, and it is natural that amendments will be made by the government to some figures that it deems necessary," noting that "the amendments led to an increase in the size of the budget from 199 trillion dinars to 207 trillion Iraqi dinars."

Earlier in the day, the Legal Committee announced that the 2024 fiscal budget tables were imminent to reach the House of Representatives.

The Ministry of Finance announced on the thirteenth of March the completion of data related to the 2024 budget tables, the inclusion of texts and their submission to the Council of Ministers

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

CandyKisses:  Finance Minister Stresses The Importance Of Partnership With The European Bank To Diversify The Sources Of The Economy

Earth News / Minister of Finance Taif Sami Mohammed stressed the importance of partnership with the European Bank to support the Iraqi government's plan to diversify the sources of the national economy.

According to a statement by the Ministry of Finance received by Earth News, "Minister of Finance Taif Sami Mohammed, met with the President of the European Bank for Reconstruction and Development (EBRD) Odile Renault-Basso, at the Bank's headquarters in the United Kingdom, and the Minister of Finance began her meeting with the President of the European Bank for Reconstruction by referring to the strategic partnership between Iraq and the Bank, and discussing ways to strengthen bilateral relations to ensure the possibility of strengthening the private sector in Iraq and digitizing the banking system."

The Minister of Finance stressed "the importance of partnership with the European Bank to support the Iraqi government's plan to diversify the sources of the national economy," noting that "the priorities of the Iraqi government are investment in the fields of energy and digital transformation in financial infrastructure."

For her part, Odile stressed "the bank's desire to work in Iraq and contribute to supporting the private sector and renewable energy."

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

Tishwash:  Al-Abadi: Al-Sudani’s visit to Washington is in the interest of Iraq

The head of the Victory Coalition, Haider al-Abadi, stressed the importance of the visit of Prime Minister Muhammad Shia al-Sudani to Washington in the middle of next month at the invitation of US President Joe Biden.

Al-Abadi said in a {special interview} on Al-Furat satellite channel: “The Prime Minister’s visit to Washington is in the interest of Iraq,” stressing “the necessity of reorganizing the relationship with the international coalition.”

Regarding the Kurdistan Democratic Party’s announcement of its boycott of the Kurdistan Regional Parliament elections next June due to its objection to the decisions of the Federal Supreme Court, Al-Abadi said, “The party’s positions must be clear regarding the decision to boycott the elections,” stressing that “the party’s withdrawal from the elections does not hinder them in the region from a formal standpoint, but Can a Democrat abandon the regional government?

Regarding the position of presidency of the House of Representatives remaining vacant, Al-Abadi affirmed, “This obstruction is not correct,” indicating that “the dispute is confined to the Sunni political forces, and we tend toward the option of deciding the position within the House of Representatives, and it does not necessarily belong to the largest Sunni bloc.”
He added, "A large majority of representatives may vote in favor of candidate Salem Al-Issawi."

Al-Abadi said, "The United Nations Mission in Iraq (UNAMI) is not strong and is not a decision-maker, but closing UN and international missions is not a good thing, and the Iraqi government is not moving toward that.  link

Mot: ... NOOO Fair!! - Adults get to Practise All Yr Long too!!! 

Mot:  Happy Easter everyone! ~ Volker Kraft hung 10,000 Easter eggs on his apple tree in Saalfeld, Germany

German pensioner Volker Kraft decorates an apple tree with Easter eggs in the garden of his summer house, in the eastern German town of Saalfeld on Wednesday.

Every year since 1965 Volker and his wife Christa spend up to two weeks decorating the tree with their collection of 10,000 colorful hand-painted Easter eggs in preparation for Easter celebrations.

News, Rumors and Opinions Saturday Morning 3-23-2024

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 Sat. 23 March 2024

Compiled Sat. 23 March 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Judy Note: There was no news on the status of the GCR and redemption process since Bruce’s call on Thurs. night 21 March.

We have been told that Tier4b (us, the Internet Group who hold foreign currencies and Zim Bonds) redemption and exchanges would start before next Sun. 24 March. The General Public was supposed to start on Tues. 2 April 2024. Some Super Whales were funded out two months ago. Other Whales were finishing up being notified and funded right now. None have access to their funds yet, and won’t until Tier4b goes.

Thurs. 21 March BOOM! $10 Trillion in Stocks Vanish, Triggering The Great American Debt Catastrophe and Global Currency Reset – GAME OVER! – American Media Group (amg-news.com)

Thurs. 21 March Masters of GCR/RV: Tiered Redemption, Golden Age, QFS, Zimbabwe Dollar, Iraqi Dinar, Vietnamese Dong, Tier 4B, Tier 5, NESARA GESARA Act – American Media Group (amg-news.com)

Fri. 22 March: BREAKING: Setup Now your QFS Account Because the Banks all Over the World and Exchanges are Crashing Down – List of Banks That are Connected to The QFS System – Trust The Plan! – American Media Group (amg-news.com)

Fri. 22 March: https://beforeitsnews.com/alternative/2024/03/dave-xrp-lion-do-you-know-nesara-redemption-centres-and-xrp-buyback-must-watch-trump-news-3810710.html

Fri. 22 March: Be Prepared: The EBS/NESARA Announcement Is Coming and It Will Change Everything! | Alternative | Before It’s News (beforeitsnews.com)

Global Financial Crisis:

Fri. 22 March Expect a Dramatic Turn For The Worse in The Economy: https://beforeitsnews.com/economy/2024/03/expect-a-dramatic-turn-for-the-worse-for-the-economy-with-much-higher-stock-prices-greg-mannarino-3107611.html

Restored Republic, Illegal Leaks on Telegram Fri. 22 March 2024

NESARA/GESARA comes in.

Bitcoin Servers turned off. 99.5% of Crypto gone China Coins.

Stock Market Crash.

Nesara/Gesara/RV

Read full post here:  https://dinarchronicles.com/2024/03/23/restored-republic-via-a-gcr-update-as-of-march-23-2024/

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

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

Pimpy  Article: "Iraq's accession to the European Bank for reconstruction and development"  This is another step for Iraq to start working with the International community.  This shows outside investors how serious Iraq is of getting back on track.

Militia Man  1310, 1460, 1182...they didn't go international with that...Why would you today at 1310?  It doesn't make any sense...They had oil at $3.22 to 1 [Back in Saddam's day]...If you reinstate with oil at...$80 to $85 a barrel today ($35 to $40 a barrel back then) and they increased their production since then.  Even on that one thing, lopping their currency is ludicrous.  It makes no sense to anyone that does basic math.

Salah opening on European banks

Nader:  3-23-2024

https://www.youtube.com/watch?v=cjJU7nooyvM

We Are Being Set Up ON A MASSIVE SCALE... Expect A WORSE CASE SCENARIO TO UNFOLD.

Greg Mannarino:  3-22-2024

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

The U.S. Senate repealed Iraq war authorizations a year ago. In the House, they’re frozen.

TNT:

Tishwash:  The U.S. Senate repealed Iraq war authorizations a year ago. In the House, they’re frozen.

By: Jennifer Shutt - March 21, 2024

 U.S. House Republican leaders have spent the last year holding up a broadly bipartisan, Senate-approved bill that would repeal the authorizations for use of military force from the 1990s and early 2000s that were intended for the wars in Iraq.

The Senate approved the legislation following a 66-30 vote last March, but it has remained stalled in the House ever since, despite broad support from conservative Republicans, centrist lawmakers and left-leaning Democrats in that chamber.

Authorizations for Use of Military Force, while not formal declarations of war, have become the more common way for Congress to authorize when and where the president as commander-in-chief can send U.S. troops into conflict.

Leaving an AUMF on the books, especially decades after lawmakers originally approved it, could provide an avenue for the president to send troops into war or engage in attacks that haven’t been debated and approved by lawmakers on behalf of the public, analysts and lawmakers warn.

In this case, however, emerging wars and armed conflicts in the Middle East have changed the tone of the debate about removing two Iraq AUMFs from the ledger.

Oklahoma Republican Rep. Tom Cole, one of the bill’s original co-sponsors, said in a brief interview with States Newsroom in mid-March there “hasn’t been a lot of oxygen” for the repeal bill to move through the House.

Cole, chairman of the Rules Committee, said he “hopes” leadership will see the bill warrants an up-or-down floor vote later this year.

“We ought to be looking for some things we can agree on on both sides and this is certainly one of them,” Cole said. “I think it’d get a good vote. So I’ll probably bring it up once we get through this period of time with the speaker and majority leader, and see if they’ve got any interest in it.”

The House bill to repeal the Iraq war AUMFs, which is a companion to the Senate-passed bill, has 71 co-sponsors that span the political spectrum and represent 30 states, showing the legislation could have the support needed to pass on an up-or-down vote.

Part of the slowdown, Cole said, is that the House Foreign Affairs Committee wants to take a different approach than what’s in the Senate-passed bill.

‘Repeal and replace’

House Foreign Affairs Chairman Michael McCaul, a Texas Republican, said during a hearing in September that his preference would be for Congress “to repeal and replace all the AUMFs with a new, more limited authorization scope to the terror threats that we face today.”

That process would include repealing the AUMF that Congress approved following the 9/11 terrorist attacks that has given several presidents broad authority to conduct military actions against terrorist organizations around the globe.

An entirely new AUMF would not provide any authority for U.S. troops to occupy a country or for American taxpayers to reconstruct it, and it would include a sunset date “so that Congress is required to review and reauthorize more regularly,” McCaul said during that hearing.

“Doing this is hard and that’s why we haven’t done it in 22 years,” McCaul said at the time. “To succeed, a new AUMF requires bipartisan, bicameral and presidential support, and it will require us to answer tough questions, such as which terrorist organizations should be covered.”

New York Democratic Rep. Gregory Meeks, ranking member on the committee, said during the hearing he believed both parties could agree that “we need to have this debate and we need Congress to reassert its proper authority over the power to declare war under the Constitution.”

“The time to pass repeal and replace of the 2001 AUMF legislation is now long overdue,” Meeks added. “The American people elected us to make tough decisions, not duck hard questions by ceding our constitutional authority over the executive branch.”

The House committee, however, hasn’t released its own bill to address the AUMFs in the six months since the hearing.

That leaves the Senate-approved bill and the identical House version as the most likely option to be enacted during an election year.

Hostilities in Middle East

Virginia Democratic Sen. Tim Kaine, co-sponsor of the Senate version of the bill, said during a brief interview with State Newsroom that conflicts throughout the Middle East have “complicated” discussions about moving the measure through the House.

“My colleagues still want to do it, but I frankly think the increased pace of hostilities in the Middle East has complicated it — even though there’s nothing about Iraq that is related to these,” Kaine said.

The change in speaker of the House has also altered the original plan for debate and a vote in that chamber.

“The speaker had made a commitment that he would bring the bill up for a vote. They sacked the speaker,” Kaine said, referring to former Speaker Kevin McCarthy of California. “So it’s kind of back to square one with the new speaker.”

The current slate of House GOP leaders has so far shied away from moving the issue forward, possibly because the current team all voted against a similar bill that was brought to the floor in June 2021.

Speaker Mike Johnson of Louisiana, Majority Leader Steve Scalise of Louisiana, Republican Whip Tom Emmer of Minnesota and Conference Chair Elise Stefanik of New York all voted against a bill to repeal the 2002 Iraq war authorization for use of military force, or AUMF,  that passed that chamber on a 268-161 vote.

Indiana’s Young says effort should be made

Indiana Republican Sen. Todd Young, co-sponsor of the stalled Senate legislation, said during an interview with States Newsroom it would be “challenging” to move the bill forward in the House now, but said he believes lawmakers “should absolutely make an effort to get a vote.”

Young said conflicts throughout that region have changed the dynamics around approving the AUMF repeal bill, though that should not lead lawmakers to step back from having complicated conversations about when and how the U.S. military uses force.

“Here we are with members of Congress, who are notoriously risk-averse, attempting to deal with a multi-front crisis — Ukraine, Indo-Pacific, Middle East, southern border and so forth,” Young said.

“And there is an incentive to generously read long-standing, but outdated legal authorities in such a way that is highly deferential to the president,” Young added. “Unfortunately, to do so would be a gross abdication of our responsibilities in Congress to not just oversee military activities, but to actually authorize them.”

Young said he’s been asking questions about how the Biden administration is justifying using U.S. troops to counter attacks by Houthis on commercial shipping vessels in the Red Sea.

“I’m very, very concerned that if Congress doesn’t specifically authorize the use of military force in a situation like this, we’re going to end up with another potential Iraq scenario,” Young said. “And none of my constituents want that.”

Virginia Democratic Rep. Abigail Spanberger said in a written statement to States Newsroom that last year she “was proud to see my colleagues in the U.S. Senate vote to remove this outdated war authority from the books — voting to pass a bill that I am proud to help lead in the U.S. House.”

“This authorization is long overdue for repeal, which is why we have voted multiple times to repeal the 2002 AUMF with bipartisan support,” Spanberger said. “The responsibility is now on Speaker Johnson to bring our bipartisan legislation to the floor of the U.S. House and demonstrate that we are serious about reclaiming our fundamental and constitutional authority to make decisions of war and peace.”

Johnson’s office did not return a request for comment on the AUMF repeal legislation.

‘A debate more about the past’

Michael O’Hanlon, senior fellow and director of foreign policy research at the Brookings Institution, said in an interview with States Newsroom that trying to repeal old AUMFs is more of a theoretical than practical discussion right now, possibly slowing down the process.

“It’s almost a debate more about the past than it is about the future,” O’Hanlon said.

The AUMFs for the Iraq wars are “basically obsolete,” though O’Hanlon said, “there could be real value in updating (the 2001 AUMF) to extend it to the kind of groups that have actually been more involved in attacking U.S. forces in the region recently.”

There are also bigger, potentially more consequential debates that Congress should be preparing for, he said.

“The retracting of the Iraq resolutions strikes me as more political theater than anything else on balance,” O’Hanlon said. “The much more consequential issue to me is, what role would Congress play if China ever attacked Taiwan?”

Such a war would not be covered by any of the existing AUMFs that Congress has enacted in recent decades, likely setting off a frenzied debate about war powers between Congress and the president.

“And yet, the debate seems so hung up on the whole legacy of the forever wars in the Middle East that this giant elephant in the room is being ignored,” O’Hanlon said. “And President (Joe) Biden has said four times in the past that if China attacked Taiwan, that we would protect Taiwan. And he’s never acknowledged a role for Congress. To me, that is the real story.”

The U.S. Constitution grants Congress the authority “to declare War, grant Letters of Marque and Reprisal, and make Rules concerning Captures on Land and Water.”

But presidents have long used AUMFs or declarations of war to justify military operations that might not have been expected or intended when Congress approved the measures.

“The landmark legislation on this in some ways was the War Powers Act of 1973, which was out of frustration with Vietnam, where Congress had just passed one little resolution about a small exchange of gunfire in 1964 and it wound up being used to justify and authorize the entire Vietnam War,” O’Hanlon said. “And, you know, 56,000 American dead later, Congress tried to be more assertive.”

In the decades since the legislation was approved, O’Hanlon said, there has been a recurring tug-of-war between the president as commander-in-chief and legislative branch about when and how the U.S. military can use force.

“There’s a long history of Congress, trying to have some influence but not really always wanting to declare war, not always feeling it’s realistic to reach that standard,” O’Hanlon said. “And yet not wanting to let the president just do whatever he wants.”  link