Gold Standard Returns: Iraq and Neighbors Prepare to Abandon The Dollar Fiat Currency System

Gold Standard Returns: Iraq and Neighbors Prepare to Abandon The Dollar Fiat Currency System

On July 17, 2024  By Awake-In-3D

The secret plans of Iraq and neighboring countries to fortify their economies with gold reserves and join the New BRICS gold/oil backed currency system.

Iraq and its neighboring Middle Eastern nations are accelerating their gold accumulation at an unprecedented pace. This strategic move signals a clear intent to shield their economies from the potential collapse of the dollar-dominated fiat currency system.

Moreover, the Middle East is strengthening its ties with the BRICS Alliance, distancing itself from the G-7 Western bloc. This alignment suggests that countries like Iraq are preparing to actively engage in a new BRICS gold-backed financial system and the UNT gold and oil-backed currency unit for international trade.

Such developments would lead to a significant revaluation (RV) of their currencies against dominant global fiat currencies like the US Dollar and Euro, signalling the beginning of the Global Currency Reset (GCR).

In This Article

• Iraq’s Significant Increase in Gold Reserves

• Middle Eastern Nations’ Collective Gold Holdings

• Strategic Alliances with BRICS Over G-7

• Implications for Global Currency Exchange Rates

Iraq and its neighboring Middle Eastern nations are rapidly accumulating gold reserves, positioning themselves strategically against the backdrop of a collapsing global fiat currency system.

This trend highlights a shift towards bolstering financial security through tangible assets, diverging from a reliance on dollar-dominated fiat currencies.

Iraq’s Significant Increase in Gold Reserves

Iraq has significantly increased its gold reserves, reaching 142.58 tonnes in the first quarter of 2024, up from 138.44 tonnes in the previous quarter.

This marks a historical high for Iraq, reflecting a strategic effort by the Central Bank of Iraq to diversify its foreign assets amid ongoing economic uncertainty.

Historically, Iraq’s gold reserves have averaged 46.32 tonnes from 2000 to 2024, with a record low of zero tonnes in 2000. The Central Bank’s strategy includes purchasing small quantities of gold over multiple transactions, ensuring a steady accumulation aligned with market conditions.

Middle Eastern Nations’ Collective Gold Holdings

The World Gold Council’s latest data for May reveals that five Arab countries, including Iraq, collectively possess over 1,000 tonnes of gold reserves.

Saudi Arabia leads the pack, followed by Lebanon, Algeria, Libya, and Iraq. This significant accumulation underscores the importance of gold as a key investment for central banks in the region amid ongoing geopolitical and economic uncertainties.

The focus on gold reserves by these nations highlights a regional trend of leveraging gold as a hedge against the obvious implosion of fiat currencies and the mathematically unsustainable global debt they create.

Strategic Alliances with BRICS Over G-7

Intriguingly, Middle Eastern countries, including Iraq, are strengthening ties with the BRICS Alliance rather than the G-7 Western Alliance. This alignment suggests a strategic pivot towards a gold-backed financial system being developed by BRICS.

The potential participation of Middle Eastern nations in the new BRICS gold-backed financial system and the UNT gold and oil-backed currency unit for international trade represents a significant shift in global economic alliances.

This move could herald a new era of financial stability and independence for these nations, reducing their vulnerability to the volatility of fiat currencies.

Implications for Global Currency Exchange Rates

The accelerated gold accumulation by Iraq and other Middle Eastern nations sets the stage for a significant currency exchange rate revaluation (RV) against dominant global fiat currencies such as the US Dollar and Euro.

As these nations prepare to participate in a gold-backed financial system, the traditional dominance of fiat currencies could be challenged. This shift could lead to more stable and resilient economies in the Middle East, fostering greater economic security and sovereignty.

The Bottom Line

Iraq and its Middle Eastern neighbors are strategically accumulating gold reserves, positioning themselves for a future less dependent on fiat currencies and more aligned with gold-backed financial systems.

This trend highlights a significant shift in global economic dynamics, with potential implications for currency valuations and international trade. As these nations strengthen their alliances with the BRICS Alliance, the global financial landscape will witness a significant financial system shift, ringing in a new era of economic stability and independence for humanity.

Supporting Articles:

• https://www.mining-technology.com/news/iraq-central-bank-increases-gold-reserves/

• https://tradingeconomics.com/iraq/gold-reserves

• https://shafaq.com/en/Economy/Five-countries-including-Iraq-own-over-1000-tons-of-gold#:~:text=%22Iraq%20has%20maintained%20its%2030th,%25%20of%20the%20total%20reserves.%22

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“Tidbits From TNT” Friday 7-19-2024

TNT:

Minister of Trade: All countries are keen on Iraq's return as a global economic player

 Minister of Trade Athir Dawood Al-Ghariri confirmed today, Friday, that negotiations for Iraq's accession to the World Trade Organization are proceeding at a rapid pace, while indicating that all countries are keen on Iraq's return as a global economic player.

Al-Ghariri told the Iraqi News Agency (INA): "The resumption of negotiations for Iraq's accession to the World Trade Organization is a qualitative event and a testament to what the government promised through its program to reform the economic situation, considering the private sector as an essential part and the backbone of the Iraqi economy."

He expressed his "aspiration for the fourth round of negotiations to be held during the first quarter of next year," stressing that "this acceleration means that the negotiations are proceeding very quickly towards Iraq's accession to the World Trade Organization, considering Iraq an important economic bloc and all countries are keen for Iraq to return as an economic player in a multilateral system."

For his part, the Saudi Ambassador to the World Trade Organization, Saqr Abdullah Al-Muqbil, told the Iraqi News Agency (INA): "There is a positive view that we will find Iraq joining a multilateral trade system as it is one of the largest economies outside this organization."
Al-Muqbil stressed that "the Kingdom of Saudi Arabia has a priority to achieve Iraq's desire to join the organization."

In turn, the official responsible for Iraq's accession to the World Trade Organization said: "The member states were happy with the Iraqi delegation, and we hope that the Iraqi delegation has completed this long journey."

She added: "We seek to see Iraq become a member of the World Trade Organization."
The Minister of Trade and head of the Iraqi team concerned with joining the World Trade Organization, Athir Dawood Al-Ghariri, announced last Monday the resumption of negotiations to join the World Trade Organization, after a hiatus that lasted more than 16 years.  link

Tishwash:  Al-Rafidain announces the implementation of the comprehensive banking system in 33 branches

Al-Rafidain Bank announced today, Friday, the implementation of the comprehensive banking system in the Al-Nour branch in Kirkuk, while indicating the implementation of the comprehensive banking system in 33 branches.

A statement from the bank received by Al-Mada stated that, “In implementation of the government program to move from paper transactions to electronic ones to provide the best services to citizens, Al-Rafidain Bank announces the implementation of the comprehensive banking system in the Al-Nour branch in Kirkuk, thus joining the branches that have activated the comprehensive system in Baghdad and the governorates in addition to To the branches of the border crossings (Zurbatieh - Safwan - Arar - Trebil), bringing the number of branches in force and completed for the system to (33), in an important step to strengthen the banking system, achieve its requirements, abandon paper work, and move completely to electronic systems.

The bank confirmed that “the plan for digital transformation and adoption of the comprehensive banking system is proceeding according to the set timings to include all branches of the bank in implementing the system, especially since one of the priorities and adoptions of the government program is electronic Transformation in financial transactions, reducing episodes of red tape for citizens, reducing time, simplifying procedures, removing obstacles, and intensifying efforts to improve the level of services provided.” customers and complete their transactions. link

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Tishwash:   An economist warns against Arab and foreign banks taking over their Iraqi counterparts: they control the dollar

On Thursday, economic affairs researcher Ahmed Abd Rabbo warned of the acquisition of Iraqi banks by many Arab and foreign banks, while stating that these banks control the dollar exchange rate in local markets in Iraq.

Abd Rabbo said, “The takeover of the sanctioned local banks’ accounts by Arab and foreign banks affects, to some extent, the banking sectors in Iraq.” Pointing out, “This acquisition is the participation of these foreign banks in the Iraqi banking sector, but it amounts to a sale and delivery, and it is as happened in the local industrial and agricultural sector, as these sectors have become imported, so the The banking sector has also become imported.”

Abd Rabbo pointed out in his interview with (Al-Mada), that “foreign banks control the dollar exchange rate, as they found the appropriate opportunity to acquire the shares of Iraqi banks after some Iraqi banks were exposed to American sanctions.”

He added, "Iraq needs to some extent to correct the course of monetary policy in a way that is compatible with the Iraqi economic situation, and to give Iraqi banks a great opportunity to take their role in the monetary arena."

Since the US Treasury imposed sanctions on Iraqi banks, as a result of dollar smuggling to Iran, foreign banks have dominated the financial arena and controlled a large percentage of dollar sales in Iraq, as the National Bank of Iraq accounts for a third of foreign currency sales, which are considered the main source of the Iraqi economy, as they are Many of the shares in this bank are owned by Arab and foreign banks.  link

Tishwash:  Proposed vision to activate the government and central bank procedures in economic and banking reform

By analyzing the efforts and measures taken by the government and the Central Bank to implement what is stated in the government program of the government of the Sudanese Prime Minister, which is the ninth government after the change in 2003, and which has been in charge for approximately one year and eight months, and which has been able to achieve an acceptable percentage of the specified goals in the field of economic, financial and banking reform.

And which included many economic sectors and fields that occupied almost most of the axes of the government program, but without achieving comprehensive and radical economic reform that begins with financial and banking reform, the government’s complete goals and visions cannot be achieved. Therefore, the government program, as I see it, is a four-year strategy to achieve the revolution of economic, financial and banking reform.

The reason for launching this strategy is “because Iraq, after 20 years of economic failures, mismanagement, and mismanagement of public funds due to administrative and financial corruption, the loss of a sound economic approach, political conflicts, and instability in the business environment, has led to reliance on oil as a primary source of revenues from the general budget, which constitutes approximately 93% of the total resources and approximately 60% of the gross domestic product, and the failure to activate the productive sectors that generate national income.”

Which led to "a blurred vision and lack of clarity in the decisions of the reform process of previous governments, except for some achievements made by the Central Bank of Iraq during the past years, in which it overcame the challenges of monetary policy at rates that enabled it to maintain the stability of the dinar exchange rate during the previous years despite the economic crises and challenges.

Unfortunately, the fluctuation in exchange rates returned after the amendments made to the official exchange rate in 2020 and 2023 for many reasons, most notably the lack of control over financing foreign trade, non-compliance with international banking standards, the presence of unofficial border crossings, illegal inter-trade, and speculators in the foreign exchange market and their access to cash dollars allocated to travelers, which constitutes less than 10% of the supply for foreign transfers.

 However, the Central Bank was able to build excellent foreign exchange reserves and maintain the general level of prices and the annual inflation rate at around 4% after it was 7.5% at the beginning of 2023. This confirms that the government and the Central Bank reviewed previous reform policies in 2023 through diagnosis and analysis and concluded that economic problems are the cause of most of Iraq's crises and that "the real solution to Iraq's crises is to work with a comprehensive change approach.

I mean here drawing a strategic and executive roadmap to activate the procedures for economic, financial, banking, administrative and legislative reforms by adopting radical change for the coming years while benefiting from the experience of institutions and experts in the government and the private sector in confronting crises and activating the reform procedures of the government and the Central Bank, and according to the proposed vision that I put before the eyes of the Prime Minister, the Governor of the Central Bank and the Ministerial Council for the Economy, as follows:

First - Starting a systematic movement to draw a roadmap for economic, administrative and legal reform carried out by the Iraqi elites and economic, financial and banking competencies (government and private sector) by establishing the Supreme Economic Council, with the private sector in all economic sectors as a member thereof, and the private banking sector as a basic member of its membership as the financing and investment sector that must contribute to sustainable development. The reform movement should be based on several important economic pillars that adopt a new methodology for managing the economy and achieving the central goal of moving the economy from rentier to productive and from cash to digital, and activating the non-oil productive sectors to reach 30% of the general budget revenues in 2026, creating sustainable development, achieving diversity in resources, and developing economic and human structures for the sound construction of the national economy and building the preliminaries for the transition to a social market economy, provided that its recommendations, after approval by the Council of Ministers, are binding for implementation by the ministries, agencies and relevant bodies.

Second: Forming a (Central Follow-up Committee) linked to the Prime Minister’s Office to follow up on the implementation of decisions and has the authority to monitor and evaluate. It is formed under the chairmanship of the Prime Minister and includes a group of government advisors and experts and private sector experts.

Thirdly - Moving to central management of the economy so that the principle of (central planning and decentralization of implementation) is implemented. This means that the Supreme Council of the Economy will undertake the drawing up of plans and policies centrally and distribute their implementation to the ministries and specialized bodies within the government structure after approval by the Council of Ministers.

Fourth: Providing soft loans to finance small, medium and large projects in accordance with the national lending strategy recently launched by the Central Bank, and establishing a legal and institutional system to manage, develop and advance them, and issuing a special law for them. As well as issuing and amending the laws of the legal environment to regulate the economic process, which means issuing new laws instead of the laws issued in 2004, due to the changes that have occurred in the national economy during the past two decades.

Fifth: Activating investment in the agricultural, industrial, energy, tourism, services and housing sectors, as well as working to reform, develop and grow the banking sector through monetary policy applications and regulating the relationship and restrictions governing financial and monetary policies, in addition to the serious trend towards reforming the tax, financial and customs system. Addressing cases of failure to achieve the required growth rates in national income and overcoming the rise in unemployment and poverty rates.

Sixth: Developing a new methodology to overcome the challenges of instability in the financial and monetary systems. This means developing coordinated and balanced plans to overcome the challenges of monetary policy, the challenges of the deficit in non-oil revenue, and the deficit in the balance of payments and the trade balance.

Seventh: Accelerating the implementation of the e-government program and coordinating it with the electronic payment system, and the procedures for digital transformation in banking transactions, and focusing on activating the procedures of the Central Bank to implement the objectives of its third strategy, and following up on the decisions issued by the government regarding the use of electronic payment in commercial exchanges and banking operations, and establishing the National Company for Electronic Payment, which was announced by the Central Bank.

Eighth - Reviewing the banking market in Iraq towards activating the implementation of government decisions regarding government banks and the decisions of the Central Bank. 

By classifying private banks, merging them, increasing their capital, and adopting them as solid international banks as correspondent banks, activating and accelerating joint procedures from the US Treasury regarding lifting sanctions and restrictions on the use of the US dollar in international transactions, and activating mechanisms, instructions, and controls for private banks’ commitment to complying with international banking standards.

Ninth: The necessity of having a representative of the private banking sector on the Board of Directors of the Central Bank and forming an advisory council for the Central Bank of experts and consultants working in the private banking sector and academics specializing in monetary policy in universities to study policies and programs and express an opinion on them before referring them to the Board of Directors to take the necessary decisions for implementation.  link

Mot: .... When ur Finally Growded Up

Mot: . What Goes Around - Comes Back Around!!! ---

News, Rumors and Opinions Friday AM 7-19-2024

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.

Restored Republic via a GCR: Update as of Fri. 19 July 2024

Compiled Fri. 19 July 2024 12:01 am EST by Judy Byington

Global Currency Reset: (Rumors/Opinions)

Thurs. 18 July 2024 Wolverine:The Precatorios group has started. They are going to make a global announcement on Sat. 20 July 2024. They will release their “own opera” to celebrate this incredible achievement. This group only started about two months ago with huge momentum, they have funds beyond scope, and they will be well off. Good news from them. 

Wolverine Cont……The Pentecostal group is paying, and we will hear good news coming from them.  They have been instructed to do no more audios. So, all is hushed at the moment.

Bond holders: I have seen private contracts, I have seen the certificates, never seen so many zeros, one account in Mauricio’s group had 36 zeroes, but so many more zeroes on these other certificates. Obviously, most of these funds will be going to humanitarian purposes as no one person could possibly use this quantity of funds.

We are just on the edge! Another bondholder has received notifications. 

I know you want to know about Tie4B, but this is all I am receiving, as I am just a messenger.  The Tier4B group will come like a thief in the night. Just wait for it to happen for our email.  There was no announcement made for these bondholders and this is what will happen for all of you. Just keep an eye on your emails. If Bondholders are getting paid, then obviously Tier4B will start.

At the moment, I am not hearing anything from Reno or Zurich.  But if they are paid, they would be under an NDA. 

I am mostly hearing from independent sources out of Brazil and good news from Colombia as well. And good news from the private contractors.

There is not much noise coming from Hong Kong, Reno or Zurich everything is hush, but I suppose that is good news, and we will wait to see what happens later in the day (Today is My Friday morning).

Hopefully we will get really good news that we are waiting for. That opera is just around the corner and hopefully to be released soon. Keep the faith this is coming. Precatorios and Pentecostal are being done now and the rest will come. 

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Thurs. 18 July 2024 Bruce:

We had pretty good info coming to us on Tuesday, but today it got more intense.  This afternoon, we got about 4 to 5 different calls from our sources puts us. Remember we talked about the 18th our drop-dead day to get things started. Well…I think it still is.  I am going to tell you what four different sources have told us:

Our redemption center source that talked directly to Wells Fargo Atlanta, saying we would have this within 24 hours.

Then we had a call from New York Wells Fargo Corp, that said we would be getting notifications after markets close tomorrow Friday 19 July, they close at 4 pm for the stock market and then Forex shuts down around 5 pm for the weekend for 48 hours. So either 4 pm or 5 pm tomorrow, depending on what market you are talking about tomorrow afternoon.

Another front, Iraq has lower denominations out, this means all businesses using lower denominations in circulation in country, and we have heard that the rate on the IQD in country, international rate is over $6 in country. This has little to do with us or our rate here. 

You have heard me say that they intend to offer us the contract rate on the IQD which is quite high, and that is offered to us and we should not have to ask for it, because Pres Trump wanted us to get the highest rate available. That is what we are hearing now. This is a good time for us.

Thurs. 18 July 2024: BOMBSHELL!! Gold-Backed Revolution: QFS Is Setting the Stage for a Global Financial Reset Like No Other! – Gazetteller

Read full post here:  https://dinarchronicles.com/2024/07/19/restored-republic-via-a-gcr-update-as-of-july-19-2024/

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

Harlequinc3  Question about the dinar 3-zeros video from 7-17-2024 below:  "As I watch the video, it seems their illustration hints on deleting from the currency in such a way that appears they would not recognize the existing zeros and only accept larger denominations with the thought in mind that the additional 3 zeros are no longer recognized."  The CBI will remove 3 zeros off .00076 (1310 IQD: $1USD.) This makes the exchange rate $.76. But almost at the exact same time, they will reinstate their currency internationally to $3.22 (and possibly add inflation for 20 years to it — 20%) up to $3.86. Reinstating it means we can exchange the dinar internationally just like any other currency.   [Post 1 of 2....stay tuned]

Harlequinc3  Think of removing three zeros as literally ‘removing the old currency from circulation.’  That’s all it means. How they do it is entice you and me and Iraqi citizens with an attractive amount. After a certain amount of all that old currency is removed, CBI will up the exchange rate in increments until it hits the rate they want. This is called a dirty float. Most likely after awhile, the CBI will change this to a pure float which is like what you see on regular ForEx, like the dollar does, the Euro does, the pound does, etc. But that won’t matter to you and me because we will have already gotten rid of our dinars and exchanged them for dollars (or whatever currency your own country uses.) [Post 2 of 2]

China's Banking System Is COLLAPSING...

Lynette Zang:  7-18-2024

In today's video we are discussing the recent and sudden "vanishing" of over 40 banks in China, the Chinese banking market and what this all means for your money and your future.

https://www.youtube.com/watch?v=y9o6Z29qT2s

The DEATH Of THE DOLLAR IS COMING FROM WITHIN... AND ITS ABOUT TO GET MUCH WORSE.

Greg Mannarino:  7-18-2024

https://www.youtube.com/watch?v=zC_FUE8Pp68

Breaking World News: Friday 7-19-2024

Breaking World News: 

BREAKING - London stock market hit by technical fallout‼

BREAKING: Major US airlines including American Airlines, Delta and United grounding all of their flights due to IT issues

BREAKING : A significant Microsoft outage has occurred, causing major issues to dozens of services and affecting thousands to millions of users nationwide

BREAKING: Global IT outage live: Computer havoc caused by Crowdstrike outage could take days to fix - ABC News

Widespread technology outage disrupts flights, banks, media outlets and companies around the world

CHARLOTTE GRAHAM-McLAY and ELAINE KURTENBACH

Updated Fri, July 19, 2024 at 7:09 AM EDT

WELLINGTON, New Zealand (AP) — A global technology outage grounded flights, knocked banks and hospital systems offline and media outlets off air on Friday in a massive disruption that affected companies and services around the world and highlighted dependence on software from a handful of providers.

Cybersecurity firm CrowdStrike said that the issue believed to be behind the outage was not a security incident or cyberattack — and that a fix was on the way. The company said the problem occurred when it deployed a faulty update to computers running Microsoft Windows.

But hours after the problem was first detected, the disarray continued — and escalated.

Long lines formed at airports in the U.S., Europe and Asia as airlines lost access to check-in and booking services at a time when many travelers are heading away on summer vacations. News outlets in Australia — where telecommunications were severely affected — were pushed off air for hours. Hospitals and doctor's offices had problems with their appointment systems, while banks in South Africa and New Zealand reported outages to their payment system or websites and apps.

Some athletes and spectators descending on Paris ahead of the Olympics were delayed, but Games organizers said disruptions were limited and didn't affect ticketing or the torch relay.

DownDectector, which tracks user-reported disruptions to internet services, recorded that airlines, payment platforms and online shopping websites across the world were affected — although the disruption appeared piecemeal and was apparently related to whether the companies used Microsoft cloud-based services.

Cyber expert James Bore said real harm would be caused by the outage because systems we’ve come to rely on at critical times are not going to be available. Hospitals, for example, will struggle to sort out appointments and those who need care may not get it.

“There are going to be deaths because of this. It’s inevitable,’’ Bore said. “We’ve got so many systems tied up with this.”

Microsoft 365 posted on social media platform X that the company was “working on rerouting the impacted traffic to alternate systems to alleviate impact” and that they were “observing a positive trend in service availability.”

The company did not respond to a request for comment.

CrowdStrike said in an emailed statement that the company “is actively working with customers impacted by a defect found in a single content update for Windows hosts.”

It said: “This is not a security incident or cyberattack. The issue has been identified, isolated and a fix has been deployed.”

The Austin, Texas-based company's Nasdaq-traded shares were down nearly 15% in premarket trading early Friday.

A recording playing on its customer service line said, “CrowdStrike is aware of the reports of crashes on Microsoft ports related to the Falcon sensor,” referring to one of its products used to block online attacks.

Meanwhile, governments, officials and companies across the world scrambled to respond.

New Zealand's acting prime minister, David Seymour, said on X that officials in the country were “moving at pace to understand the potential impacts,” adding that he had no information indicating it was a cybersecurity threat.

The issue was causing “inconvenience" for the public and businesses, he added.

On Friday morning, major delays reported at airports grew, with most attributing the problems in booking systems of individual airlines.

In the U.S., the FAA said the airlines United, American, Delta and Allegiant had all been grounded.

Airlines and railways in the U.K. were also affected, with longer than usual waiting times.

With athletes and spectators arriving from around the world for the Paris Olympics, the city's airport authority said its computer systems were not affected by the outage, but that disruptions to airline operations was causing delays at two major Paris airports. The Paris Olympics organizers said the outage affected their computer systems and the arrival of some delegations and their uniforms and accreditations had been delayed.

But the impact was limited, the organizers said, and the outages had not affected ticketing or the torch relay.

In Germany, Berlin-Brandenburg Airport halted flights for several hours due to difficulties in checking in passengers, while landings at Zurich airport were suspended and flights in Hungary, Italy and Turkey disrupted.

The Dutch carrier KLM said it had been “forced to suspend most” of its operations.

Amsterdam’s Schiphol Airport warned that the outage was having a “major impact on flights” to and from the busy European hub. The chaotic morning coincided with one of the busiest days of the year for Schiphol.

Widespread problems were reported at Australian airports, where lines grew and some passengers were stranded as online check-in services and self-service booths were disabled — although flights were still operating.

In India, Hong Kong and Thailand, many airlines were forced to manually check in passengers. An airline in Kenya was also reporting disruption.

While the outages were being experienced worldwide, Australia appeared to be severely affected by the issue. Disruption reported on the site DownDetector included the banks NAB, Commonwealth and Bendigo, and the airlines Virgin Australia and Qantas, as well as internet and phone providers such as Telstra.

National news outlets — including public broadcaster ABC and Sky News Australia — were unable to broadcast on their TV and radio channels for hours. Some news anchors went on air online from dark offices, in front of computers showing “blue screens of death.”

Hospitals in several countries also reported problems.

Britain’s National Health Service said the outage caused problems at most doctors’ offices across England. NHS England said in a statement said the glitch was affecting the appointment and patient record system used across the public health system.

Some hospitals in northern Germany canceled all elective surgery scheduled for Friday, but emergency care was unaffected.

Israel said its hospitals and post office operations were disrupted.

In South Africa, at least one major bank said it was experiencing nationwide service disruptions as customers reported they were unable to make payments using their bank cards in stores. The New Zealand banks ASB and Kiwibank said their services were down as well.

Shipping was disrupted too: A major container hub in the Baltic port of Gdansk, Poland, the Baltic Hub, said it was battling problems resulting from the global system outage.

Kurtenbach reported from Bangkok. Associated Press journalists around the world contributed. LINK

Seeds of Wisdom RV and Economics Updates Thursday Evening 7-18-24

Good Evening Dinar Recaps,

An Update on Vietnam’s Quest for Crypto Regulation

An article by Hudson Reporter dated April 21, 2024 titled:  Vietnam’s Path to Crypto Regulation by 2025:  A Governmental Necessity, gives an update on Vietnam's quest for Crypto Regulation.

The article states that Vietnam plans to develop a legal framework for cryptocurrency regulation by May 2025 to address ownership risks and prevent illegal activities such as money laundering

Key Takeaways from the article:

1.  Cryptocurrencies are not banned in Vietnam but regulation is urgently needed.
2.  The Finance Ministry has been tasked to draft a regulatory framework by May 2025.
3.  Measures against misuse, like money laundering, are also being studied.

@ Newshounds News™

To learn more:  Hudson Reporter

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DE-DOLLARIZATION CONTINUES TO BE THE THEME OF BRICS NATIONS

"All are trying to make themselves safe. Information leaked not long ago that in the environment when the United States and the whole collective West want to steal Russian money Saudi Arabia is thinking how to reduce dependence on the dollar. THE PROCESS OF DE-DOLLARIZATION IS UNDERWAY, IT CANNOT BE STOPPED, he said."
Quote from Russian Foreign Minister Sergey Lavrov

@ Newshounds News™

Read more:  X

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Crypto Regulations in Vietnam 2024

The post Crypto Regulations in Vietnam 2024 appeared first on Coinpedia Fintech News

Vietnam, a socialist country in Southeast Asia, has a population of 99.46 million and covers 331 thousand square kilometers. It has developed a strong market economy with socialist influences, making it one of the fastest-growing economies in terms of GDP. This economic growth has attracted significant foreign investment.

Vietnamese Government on Cryptocurrencies

Cryptocurrency is not banned in Vietnam, but a legal framework is needed to ensure its proper development and mitigate risks, according to a representative from the Ministry of Justice. Cao Dang Vinh, Deputy Director of the Department of Economic and Civil Legislation, noted on April 12 that there are varying understandings of virtual assets, digital currencies, and cryptocurrencies, with different countries adopting diverse management approaches.

Cryptocurrency is not banned in Vietnam: Ministry Cao Dang Vinh noted global variations in cryptocurrency perspectives and the absence of specific regulations in Vietnam. Vietnam lacks a legal framework for cryptocurrencies, stressing the need for regulation.

Cryptocurrencies carry risks that can lead to appropriation or money laundering. Vietnam currently lacks regulations to manage their development, and cryptocurrency is not considered a legal asset. Vinh emphasized the need for a legal framework to prevent these risks and illegal activities. The Ministry of Finance will provide specific proposals, and the Ministry of Justice will offer detailed opinions accordingly.

In addition to this, the Vietnamese state authorities are working on the possible applications of blockchain technology in the country.

Blockchain for Vietnam’s Cashless Society

The deputy Prime Minister of Vietnam, Vuong Dinh Hue signed out a policy decision in 2017,  setting out the government’s plan to reduce the cash transactions in the country to less than 10%. The State Bank of Vietnam also announced the development of $700 million cashless payment network in collaboration with South Korean payment service provider Alliex.

Another bank, Tien Phong Commercial Joint Stock Bank(TPBank) moving one step further in the use of blockchain technology, joined hands with Japan’s SBI Ripple Asia to develop Ripplenet blockchain-based global payment network for processing cross-border transactions.

Launch of the First Money Transfer Service between Japan and Vietnam that Utilize Distributed Ledger Technology (DLT).  TPBank is the latest financial institution supported by SBI Ripple Asia to leverage Ripple

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Cryptocurrencies law

In Vietnam, cryptocurrencies were not considered legal means of payment but could be bought, held, and traded. The government continued to reevaluate its approach to the crypto space, with the central bank maintaining that cryptocurrencies were not legal tender.

Cryptocurrencies were categorized as assets or goods under the 2015 Civil Code and the Commercial Law of 2005. These laws defined property broadly to include objects, money, valuable papers, property rights, and movable property, including future assets, allowing cryptocurrencies to be traded within the country.

What led to look over the need of Regulations?

The government of Vietnam cites many official reasons for the need for regulations and ban them as a means of payment,

—The crypto industry has no government supervision and therefore prone to illegal activities.

—Cryptocurrencies lack customer protection as they are volatile in nature which leads to price instability, security concerns, and market manipulation.

—Cryptocurrencies are open to illegal activities such as tax evasion, money laundering, terrorist funding and hacking.

The cryptocurrencies might possess the capacity to destabilize existing financial systems which can affect the nation’s economy.

Regulatory RoadMap of Cryptocurrencies

Vietnam has made several efforts to regulate the country’s cryptocurrency space. On 21 August 2017, the Prime Minister, Nguyen Xuan Phuc approved a project to complete the legal framework for managing digital assets and their activities.

On April 11, 2018, a directive was issued to the relevant authorities to manage crypto transactions in order to analyse the negative impact on the nation’s economy. In the directive, Bitcoin and similar cryptocurrencies were banned for using them as a mode of payments for any goods or services. But the users were free to invest in Cryptocurrencies. Those who found guilty would be penalised with a fine up to VND 200 million ($ 9,000).

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In February 2019, The Ministry of Justice also filed a report that reviewed the current legislation on crypto-related business in the country. They proposed three different policies that the government could consider and start working on the policy selected by the government. They are:

1.  Floating and lax Regulatory approach

2.  Straightforward approach

3.  Legislation of digital Assets transactions under specific conditions.

Recently on May 11 2020, the Vietnamese Finance Ministry has approved to establish a research group to review, analyse and develop various regulatory policies around crypto-assets.  The research group would be comprised of nine members of the group of the following departments,

—General Department of Taxation

—National Institute of Finance

—General Department of Vietnam Customs

—Department of Banking and Financial Institutions of the State Bank of Vietnam

The research group would be led by the Vice-Chairman of State Securities Commission, Pham Hong Son.

Authorities in Vietnam to Establish Crypto Research Group to Evaluate Policy. On May 11, the Ministry of Finance in Vietnam said it will come up with a research group responsible for examining & making policy proposals about crypto and virtual assets

1.  Taxation and Mining

2.  Taxes on Cryptocurrencies

As you have already aware of the fact that, Bitcoin and other cryptocurrencies are not considered as legal tenders and are banned to use them as a mode of payment, the tax policies are also not framed yet. Cryptocurrency taxation in Vietnam remains uncertain due to the lack of a clear legal framework.

The tax authorities have lost a lawsuit against a local citizen who was been taxed on the Bitcoin earnings. As the cryptocurrencies are not considered as a legal asset under Vietnamese law, the court ruled the authorities that they have no right to tax him.

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Mining of Cryptocurrencies

The Cryptocurrencies remain illegal as of now and restricted with the use of payment methods and so the mining. It is also considered illegal  The government has also has passed a law which bans the import of bitcoin mining equipment into Vietnam.

However, the Ministry of Industry and trade expressed displeasure towards the ban and also showed concern over the decline in the mining business. The ministry sent a proposal to the Prime Minister of Vietnam, called the Document 5964 / BTC – TCHQ, mentioning that the mining pieces of equipment are not listed in the banned list of import or unsafe list. Hence the import should be allowed which was accepted by the government.

12-04-2024: Vietnam Does Not Ban Cryptocurrency, Confirms Ministry of Justice

A Ministry of Justice representative clarified that while cryptocurrency isn’t banned in Vietnam, there’s a need for a legal framework to guide its development and mitigate risks. Cao Dang Vinh, Deputy Director of the Economic and Civil Legislation Department, noted varying global perspectives on virtual assets, digital currencies, and cryptocurrencies.

Concluding Note

The Vietnamese Government has now acquired a progressive approach towards regulating the cryptocurrencies and initiated various steps. The various other approaches, however, are still vague and lack clarity.

More laws and reforms are required to ascertain the secured flow of cryptocurrency transactions in the country so that no scams or fraud occur risking the investor’s funds. The future of the cryptocurrencies are more secure and reliable in the country when these regulatory frameworks are put in place.

Read more:  Binance

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BASEL 3 AND GOLD REGULATIONS

"Basel III is a set of financial reforms developed by the Basel Committee on Banking Supervision. It introduces stricter capital requirements to increase the resilience of banks. The main focus is on improving the quality of capital, particularly Tier 1 capital, which is essential for absorbing losses."

The Significance of Gold in Basel III Regulations

"Gold’s role in Basel III significantly changes how banks handle this asset. With the new Basel III Bank Accords, gold is taking center stage again as an important asset for financial institutions. The most significant change is that Basel III regulations treat gold held in vaults as a zero-risk asset, a status previously reserved for cash. This change elevates gold’s importance in ensuring the stability and liquidity of banks."

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Impact on Liquidity and Stable Funding

"Gold significantly impacts banks’ liquidity. Under Basel III’s measures, banks must maintain a specific Liquidity Coverage Ratio (LCR) to ensure they have enough high-quality liquid assets to survive financial stress. Gold can be considered part of these High-Quality Liquid Assets (HQLA)"

"Basel III regulations make gold a more attractive asset for banks by allowing bullion held in vaults or on an allocated basis to be treated as cash with a 0% risk weight. "

"Basel III demands that financial institutions hold a higher proportion of physical gold, rather than trading in derivatives. This change increases financing costs and demands more robust liquidity buffers. Banks must now hold physical assets to meet liquidity requirements, pushing the preference for tangible gold. As a result, this regulation stabilizes the gold market by reducing reliance on paper gold and emphasizing the importance of physical gold holdings. This shift supports higher demand and potentially boosts the price and stability of gold in the long term."

"With Basel III, gold is now considered a High-Quality Liquid Asset (HQLA)"

@ Newshounds News™

Read more:  Metals Edge

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BASEL 3 ENDGAME

"Many parts of Basel III are already in place worldwide, including the U.S. However, the final changes, called Basel III Endgame and agreed upon in 2017, have been delayed for years by the COVID-19 pandemic and banks calling for more time to adjust to and lobby against the new regulations."

"12 Deadlines have come and gone, with mid-2025 the latest date for when the rules are supposed to go into effect in the U.S., which means announcing them months earlier to provide regulators, banks, and other stakeholders the time needed to prepare to meet the new standards. Banks would start using the rules on July 1, 2025, with the goal of having them fully in place three years later."

What Affect Would Basel III Have on Small and Medium-Sized Banks?
"While Basel III primarily targets very large, internationally active banks, critics charge that its regulations would also affect small and medium-sized banks. "

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When Does Basel III Go Into Effect?

"Since the Basel III Endgame process began, bank requests for more time to digest and comment on the plans, COVID-19, and shifts in the post-pandemic economy have all pushed back the deadlines. As it stands now, the regulations should start taking effect July 1, 2025, followed by a three-year phase-in period to give banks time to transition to the new rules. While previous deadlines have come and gone, the commentary period is over, which offers U.S. federal regulators more room to maneuver in going ahead with implementation."

@ Newshounds News™

Read more:  Investopedia  

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Chainlink’s tokenization sandbox cuts trials to days instead of months

The sandbox could lead to more financial institutions adopting asset tokenization solutions.

Chainlink is ushering in a new turnkey solution for institutions looking to conduct tokenization trials in the latest development for the tokenization industry.

Chainlink has introduced its new Digital Assets Sandbox (DAS) for financial institutions, which aims to accelerate digital asset innovation.

DAS will enable financial institutions to quickly experiment with new revenue-generating opportunities, like bond tokenization, with improved time-to-market and greater overall efficiency.

According to Angela Walker, the global head of banking and capital markets at Chainlink Labs, the new sandbox was born due to institutional demand for secure digital asset experimentation environments.

@ Newshounds News™

Read more:  Coin Telegraph

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More News, Rumors and Opinions Thursday PM 7-18-2024

TNT:

Economist: Financial bonds target citizens’ hoarded funds..and lists their benefits

The economic expert, Abdul Rahman Al-Shaikhli, confirmed that the financial bonds, “second issue,” target the hoarded money of citizens, while he listed its benefits.

Al-Shaikhli told {Euphrates News} that: "The bonds issued by the Ministry of Finance are the second and very important; for the purpose of withdrawing the hoarded money of citizens to revolve in the orbit of banking channels."

He added, "About 85% of the issued money is hoarded by citizens and causes an imbalance in the national economy as well as a state of inflation."

Al-Shaikhli explained, "The specified amount will be divided into two types, one for a period of one year and the other for two years with an annual profit value of 6.5% taken monthly, and also for four years the citizen can obtain it with an interest of 8.5%."

Regarding the method of obtaining this money, Al-Shaikhli explained, "The citizen, companies and individuals submit a request to the authorized bank with their original papers and documents, then the amount is delivered at the initial price of the share, and after a period of time, this money is sent with copies of the supporting documents to the Central Bank, so the transaction is completed and an official receipt is sent to the shareholder, and he has the right at that time to enter the Iraqi financial market and recover the money at the time he wishes." 

He added, "These funds are not considered frozen like deposits, but rather enter the stock market, and therefore it has the right to be traded at the daily price. The issuance will be on July 22nd for a period of one month." link

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Tishwash:  Iranian Foreign Ministry: America uses the dollar to unilaterally dominate the world

Iranian Foreign Ministry spokesman Nasser Kanaani said that the United States uses the US dollar to unilaterally dominate the world.

The Iranian Foreign Ministry spokesman recalled the currency agreement recently concluded between Russia and Iran to ensure the liquidity of national currencies in commercial transactions, noting that the Iranian side proposed using the same mechanism at the level of the BRICS countries.

The spokesman stressed that the BRICS countries have the necessary capacity and capabilities to promote and enhance the principle of multipolarity.

Kanaani said in an interview with RT: The whole world is already tired of Western unilateralism.

The BRICS group is moving towards expanding non-dollar payments, as the group's countries seek to move away from the US-controlled SWIFT banking correspondence system.

One of the main goals of the BRICS countries is to move away from the dollar and use national currencies in trade transactions. It is worth noting that 95% of trade transactions between Russia and China are conducted in rubles and yuan.

It is known that Russia assumed the presidency of the BRICS group on January 1 of this year.

The year began with new members joining the organization - in addition to Russia, Brazil, India, China and South Africa, the group now includes Egypt, Ethiopia, Iran, the United Arab Emirates and Saudi Arabia.

As part of its presidency of the group, Russia organizes more than 200 political, economic and social events and activities.  link

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

Frank26  [New Iraqi Dinar 3-zeros Video Review shown below in Frank26's post 3-17-2024]   A 50,000 note, they showed you a picture...and then they took a magic marker and they crossed off the 3-zeros on the 50k note...that was a little misleading...Many people saw...the 3-zeros disappear from the currency and they thought I'm going to be left with a 50 note.  I just lost a lot of money.  No...They're not going to take your 50K note and cut the zeros out...  .00076 | 1320 - These represent the exchange value of the Iraq dinar.  .00076 is used by Forex to reflect the 1320 that is on the CBI website... [Post 1 of 2....stay tuned]

Frank26  It is my hope that the next step of the monetary reform will remove 3-zeros from the exchange rate that Forex is using...After we have lifted the 3 zeros the next step is it goes into a float...as an RI...Then it goes into a re-denomination.  It means you got rid of those 3-zero notes... The exchange rate just changed, you now need...the smaller notes because the exchange rate just got really big.  Right now the Iraqi notes are big with a lot of zeros because the exchange rate is tiny.  But it is about to flip.  By removing the 3 zeros from the exchange rate of .00076 you add value to the currency.    [Post 2 of 2]

Why Iraq Will Increase the Value of the Iraqi Dinar

Edu Matrix:  7-18-2024

Why Iraq Will Increase the Value of the Iraqi Dinar - Iraq has placed itself in a position to increase its currency's value to survive the country's aggressive plans. Learn what this means and why.

https://www.youtube.com/watch?v=fSpsGm7lMC4

It's "The Endgame" Financially | Francis Hunt

Liberty and Finance: 7-17-2024

We sit down with Francis Hunt to delve into the current gold market, which has recently reached all-time highs. As an expert in market trends, Hunt offers a comprehensive analysis of the factors driving gold's unprecedented surge.

Hunt breaks down the critical economic, geopolitical, and financial factors contributing to gold's record-breaking performance.

INTERVIEW TIMELINE:

 0:00 Intro

1:30 Gold update

 4:43 Politics and financial system

6:50 Gold charts

13:40 Silver update

20:23 Debt-based collapse

25:05 Taking action

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

“Tidbits From TNT” Thursday 7-18-2024

TNT:

Tishwash:  100 investment opportunities next November100 

The National Investment Commission has completed its preparations for holding a major investment conference next November.

The head of the authority, Haider Makiya, explained that the authority has completed all its preparations to hold a major investment conference in which about 100 investment opportunities will be presented in all of Iraq’s governorates, noting that invitations have been sent to ambassadors, officials, and all ministers.

 He pointed out that Prime Minister Mohammed Shia Al-Sudani will attend the conference as he is the biggest supporter of such conferences to see the extent of the readiness of major companies to invest in Iraq as a fertile and promising land, pointing out that the role of embassies is great in this matter, as they conveyed an appropriate image of Iraq and its enjoyment of unparalleled security and economic stability during this important stage of its history.

Makiya added that the conference, which will be held on November 2-3, will be a major economic event in the capital, Baghdad, to present exceptional investment opportunities that the world's largest companies can work on. link

Tishwash:   Minister of Trade stresses importance of Arab support for Iraq's accession to WTO

Minister of Trade, Athir Dawood Al-Ghariri, stressed today, Thursday, the importance of Arab support for Iraq's accession to the World Trade Organization.

A statement by the Ministry of Commerce, received by "Al-Eqtisad News", stated that "Minister of Commerce Athir Dawood Al-Ghariri met with the Saudi Ambassador and Head of the Working Group on Iraq's Accession to the World Trade Organization, Saqr Al-Muqbil, in the presence of the ambassadors of the Arab countries in the organization, to discuss mobilizing Arab support for Iraq's accession file to the World Trade Organization."

The statement added, "During the meeting, the progress made by Iraq in meeting the requirements for accession and the challenges it faces in this path were reviewed."

During the meeting, Minister Al-Ghariri stressed the "importance of Arab support to strengthen Iraq's position and achieve its goals in joining the organization."

At the same time, the Minister pointed out "the economic and commercial benefits that will accrue to Iraq and the Arab countries through this accession."

For their part, the Arab ambassadors expressed their "readiness to support Iraq in its efforts," stressing "the importance of strengthening Arab cooperation in international organizations link

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Tishwash: The Economic Situation in Iraq: Challenges and Future Prospects

 Iraq is currently going through a critical economic phase, as the country faces many challenges that hinder its growth and stability. The Iraqi economy is one of the most diversified in the region, but it continues to suffer from the effects of internal conflicts and fluctuations in global oil prices.

Economic Challenges

One of the most prominent challenges facing the Iraqi economy is high unemployment among young people, with statistics indicating that the unemployment rate exceeds 25%. This is attributed to the decline in foreign and local investments as a result of the security and political unrest that the country has witnessed over the past years.

Financial and administrative corruption is another obstacle to economic growth. Iraq ranks high in global corruption indices, which negatively impacts the business environment and limits the ability to attract foreign investment. This corruption affects all sectors of the economy, from oil and gas to infrastructure and public services.

Economic Reforms

In the face of these challenges, the Iraqi government is implementing a package of economic reforms aimed at enhancing economic growth and achieving financial stability. Among these reforms are improving the management of oil revenues and diversifying sources of income by supporting non-oil sectors such as agriculture, industry and tourism.

The government is also working to improve the business environment by simplifying administrative procedures and fighting corruption. Oversight bodies have been established to enhance transparency and accountability in the management of public resources.

Future Prospects

Despite the major challenges, there are signs of hope that Iraq’s economic situation can improve. Government initiatives to diversify the economy and boost investment in vital sectors could create new jobs and improve living standards for the population.

In addition, the stability of global oil prices represents an opportunity for Iraq to generate additional revenues that can be used to finance development projects and improve infrastructure.

In conclusion, achieving an economic renaissance in Iraq requires concerted efforts between the government, the private sector, and civil society, in addition to benefiting from international support to enhance economic and social stability. link

Tishwash:  A military delegation headed by Yarallah will visit Washington soon...and the American withdrawal may take 3 to 5 years

Baghdad has not yet commented on the attempt to assassinate former US President Donald Trump, while Muqtada Al-Sadr, the leader of the Sadrist movement, described what happened as a “clip from a movie.”

Since the beginning of this year, Baghdad and the United States have been engaged in dialogues about the Western military presence in the country, which have reached the procedures stage, according to the parties to the coordination framework.

A former politician and attempted MP warns that the assassination of Trump, whose interpretations of the incident are now limited to an individual act, may affect Washington's policy in Iraq at a later time.

The Iraqi military leadership is supposed to meet with American officials this July in Washington to complete negotiations on withdrawal.

The two parties held three meetings in Iraq about the fate of the coalition forces, while it is likely that Abdul Amir Yarallah, Chief of Staff of the Army, will lead the next delegation.

A few days ago, Foreign Minister Fuad Hussein said while he was in Washington to attend NATO meetings that "a military delegation will visit Washington to hold discussions about the security agreement concluded between Iraq and the United States."

There is still a conflict in statements between Baghdad and Washington regarding the nature of the negotiations that began at the beginning of this year, regarding whether the United States will withdraw or stay for a longer time.

According to leaks from political circles, the military delegation that will soon go to the United States will ask for “3 or 4 months to finalize the withdrawal arrangements.”

But there are other political parties who doubt the possibility of withdrawing forces so quickly, and talk about the United States requiring between “3 to 5 years” to evacuate the forces.

Ali Nimah, a member of the Security and Defense Committee in Parliament, says that the issue of removing foreign forces from Iraq will not end “overnight,” noting that it is hoped that the transition to bilateral relations will begin during the next year.

Last June, the government confirmed that it had begun new measures in preparation for the withdrawal of coalition forces present since 2014, by developing military infrastructure.
Meanwhile, Hassan Fadaam, a former leader of the Popular Mobilization Forces, said in contact with (Al-Mada) that “the decision to withdraw is final and final, and there is no retreat from the Iraqi government.”

Fadam, a former representative of the Al-Hikma Movement, points out that “the withdrawal is within the government program and also within the political agreement that occurred between all political parties and was informed by the American authorities through diplomacy and by the political forces in all their meetings with American officials.”

Fadham, a member of the coordination framework, confirms that there are major changes in this file. “Work has moved from dialogues to procedures. There are daily procedures in preparation for withdrawal.”

The former MP revealed that a recent visit by a US Defense Department official to Baghdad was part of these arrangements, as he "visited the American bases to begin the withdrawal."

A week ago, Al-Sudani's office reported that the latter received the US Deputy Assistant Secretary of Defense for Middle Eastern Affairs, Daniel Shapiro, in Baghdad.

The office confirmed in a statement that the meeting included talk about "proceeding procedures to end the mission of the international coalition to fight ISIS, and to activate bilateral relations between Iraq and the United States."

Hassan Fadaam says that the United States may try to reverse the withdrawal under various pretexts, “but Iraq is monitoring these moves that Washington could use to disrupt the withdrawal.”

Last February, the Iraqi factions retreated from targeting American forces in an undeclared truce, to give the government the opportunity to negotiate with Washington.

The number of American forces in Iraq since the beginning of 2003 was about 130,000, and it remained fluctuating between 100,000 and 150,000, but it rose again to about 170,000 with the intensification of violence in 2007.

At the end of 2011, the United States withdrew its forces during the era of former President Barack Obama. Except for a few military advisors.

However, with the spread of ISIS in 2014, Washington doubled its forces to more than 5,000 members, before reducing them again to 3,000 in 2021, then to about 2,500 this year.

Withdrawal...and Trump is the example of Alusi, the politician and former MP, who says that the presence of American forces in Iraq was “always the focus of discussion in all American governments after 2003,” but he did not raise, not Once, either secretly or publicly, the idea of ​​“reducing the level of forces to zero.”

Successful American administrations, according to Al-Alusi, who spoke to Al-Mada, were thinking about withdrawing the strike force "and leaving elite forces that represent the American moral and strategic presence in Iraq."

A few days ago, Arab media close to Tehran said that the United States “withdrew an official announcement to schedule a reduction in the number of its forces in Iraq.” It is likely that this is related to the process of withdrawing American forces from Niger.

America, according to Al-Alusi, will reduce the military presence in Iraq and not the political, diplomatic or economic presence if it finds that "the government is part of American ideas and interests, but the opposite will happen if the militia penetration and preoccupation With opening camps for the Houthis in Iraq continues.”

The United States will soon enter into a sensitive political situation with the approaching presidential elections, which may not greatly affect the nature of relations with Iraq, according to Al-Alusi, a former member of the Foreign Relations Committee in Parliament.

He says that the change in the US government “affects foreign relations on major issues with Russia and China,but not with Iraq and Iran.”

But on the other hand, he points out the possibility that the attempt to assassinate Trump may affect Washington policy if it is proven that the perpetrator, whose action is explained as an isolated incident, influenced Iraqi and Iranian propaganda against the nominated president, especially if he wins the elections.

In 2021, an Iraqi court issued an arrest warrant against Trump, against the backdrop of the assassination of Abu Mahdi Al-Muhandis and Qassem Soleimani.

So far, Baghdad has not commented on the assassination attempt, at a time when Muqtada al-Sadr said in a tweet on the “Just allegations.”

Al-Alusi advised the Iraqi government to denounce the assassination attempt, "not for Trump's sake, but in rejection of the assassination attempts that the authorities in Iraq accused of against activists and protesters."  link

Mot: Gunna be un of Those Daze!!!

Mot: Seeeeeeeeee -- Ya Can Always Find the ""Positive"" of things!!!

News, Rumors and Opinions Thursday AM 7-18-2024

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 Thurs. 18 July 2024

Compiled Thurs. 18 July 2024 12:01 am EST by Judy Byington,

Global Currency Reset: (Opinions/Rumors)

Wed. 17 July 2024 Wolverine: “Bond Holders are getting paid. Private Contractors are getting paid. Reno said it has started. I was told it was released to the Pentecostal Group. Absolutely it is our week, but it is a process and Tier4b may not have it until next week.”

Wed. 17 July 2024 TNT CC Close Tony. “OK guys. We’ll just end it right here. Window is open after 2 pm today. Expected after 2 pm. – could see something between 2 pm and 2 am. They’re all ready to go. Something to happen tonight. Be ready to go.”

Tues. 16 July 2024 Bruce: “Sources are saying we should be notified to set appointments sometime between now and Thurs. 18 July. Money is moving and Bond Holders are to receive email Wed. 17 July for access to their monies on Thurs. 18 July.”

Tues. 16 July 2024 MarkZ: “Some of the Zim charity platforms may go first – is what I am suddenly hearing. Maybe even before some of the Historic bonds. So I am hearing positive things for those who aggregated Zim for humanitarian reasons. That being said…..I heard that the initial releases of money are being pushed very hard for humanitarians. That is the priority. But this does not mean there is a delay for us currency holders, just that humanitarian projects are the priority.  I am getting that from bunches of sources. I have also had a number of sources from groups reach out over the last 12-14 hours that if we have projects to submit- be sure to get those dusted off and prepared and ready.”

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Gold Standard Returns: Iraq and Neighbors Prepare to Abandon The Dollar Fiat Currency System. The secret plans of Iraq and neighboring countries to fortify their economies with gold reserves and join the New BRICS gold/oil backed currency system. https://ai3d.blog/gold-standard-returns-iraq-and-neighbors-prepare-to-abandon-the-dollar-fiat-currency-system/

Tues. 16 July 2024: GESARA: The Hands Of God! This Is Wealth Creation! (VIDEO) – American Media Group (amg-news.com)

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During the EBS (Rumors/Opinions)

Prepare for the most dramatic change in modern history when the Military Emergency Broadcast System (EBS) emerges, signaling a new era of truth, justice and liberation.

The stage is set, the actors are in position, and the world is about to witness a seismic shift that will reshape the course of history.

This bold mission is not for the faint of heart; is the linchpin of the Quantum Starlink system, a quantum leap in technology that promises to redefine our world.

The new Quantum Systems, part of Quantum Starlink, represent a paradigm shift in technology.

The NESARA/GESARA funds will finally see the light of day and the people will be entrusted with the monumental task of rebuilding a long-oppressed world.

Payout for Tier Groups involved in the RV – the Dubai Accounts Funds the RV:

Dubai 1 funds Tiers 1&2 of the RV and Dubai 2 funds Tiers 3 & 4 of the RV, while Dubai 3 funds the Adjudicated Accounts and GESARA.

The payout of the Bonds and Currency is done in order of the different tiers. There are five Tiers that will be exchanging: Tiers 1, 2, 3, 4 & public (5).

Liquidity Release is done in a certain order. The Elders, German Bonds and select Yellow Dragon Bonds must be paid first.

A. Dubai 1 released for liquidity which then triggers Dubai 2&3.
B. F&P’s are released to recipients (they need D1 liquid, this is their hold up)
C. Bonds will be liquid (they need D1 to be liquid)
D. Tiers 1-4b are notified. (they need D1 to be liquid)

It appears all is set to go on or about the same time!

Tier 1 Sovereign Nation Debt of Governments: Chinese Royals, Bond Holders, Paymasters, Church Groups, CMKX, F&P, Adjudicated Settlements, Ranch and Farm Claims and other groups.

Tier 2 Royals, Elders, Whales, Military Generals and some political type Elites with platforms of currency, corporations, etc.

Tier 3 Admirals Group, American Indians, CMKX, large church groups like the Church of Jesus Christ of Latter-day Saints. The Pentecostal group was now 100% under an NDA. Tier 3 was all Dubai 2 Trust Money and originally was the Generals and public. Now Tier 3 includes groups with projects including the Admiral.

The Admiral was sent to the back of the line and renamed Tier 4A The Admiral’s Group was composed of three parts – most notable of which was Tier 4a Core groups and 130 VIP groups.

Tier 4B, (the Internet Group) is the largest group and composed of the general public who paid attention to the intel – the people who have bought currency and/or bonds and kept up with the reset by way of information on the Internet.

Tier 5 The general public who never paid attention to the Intel.

Read full post here:  https://dinarchronicles.com/2024/07/18/restored-republic-via-a-gcr-update-as-of-july-18-2024/

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

Mnt Goat  We heard this week that Al-Sudani again told the citizens that they can expect a “new currency” and so we know its not more of the 3 zero denominations since the CBI told us they are not going to issue the 20K note or any more other of these notes along this line.  So what could this mean? It can only mean fresh new notes of lower denominations reverting back to the currency denominations of the past and finally ditching these 3 zero notes... 

Buckeyetree  Dropping the zeros is primarily from the exchange rate, that is, moving the decimal point over 3 places which causes the need for new currency, the lower notes, which delete the physical zeros on the notes themselves. We are anticipating a rate that is better than 1 to 1 because Sudani said that the dinar will be stronger than the dollar... Dropping the physical zeros and rate change for reinstatement need to happen at same time.  Otherwise, lower notes would be practically useles

NASDAQ Has Worst Day Since 2022, Will Correction Continue? | Jason Shapiro

David Lin:  7-17-2024

Jason Shapiro, Owner of Crowded Market Report.com, discusses recent market sentiment and the rotation out of tech stocks.

0:00 – Intro

 0:56 - Market inflection

6:24 - Tech stocks down

 9:35 - Russell 2000

10:30 - Energy

11:50 - Market levels targets

12:48 - Crowd sentiment

13:27 - Valuations

16:55 - “Setting yourself up for failure”

19:27 - What is market pricing in?

 21:55 - Mining stocks

24:30- Yen

25:29 – Bitcoin

 27:44 - Volatility and VIX

29:51 - Recession trade

31:50 - Presidencies and stocks

 34:20 - Bullish argument

35:10 - Bearish argument

https://www.youtube.com/watch?v=IJmCbP8EY98

Gold is Smashing New Records as Fiat Currency System Dies

Gold is Smashing New Records as Fiat Currency System Dies

On July 16, 2024 By Awake-In-3D

As traditional currencies falter, gold emerges as the new foundation of a global financial reset.

The ongoing instability in the fiat currency financial debt system, marked by increasing debt and economic volatility, is propelling it towards an inevitable implosion and crash.

In this context, the financial world is gradually recognizing the necessity of transitioning to an alternative system, which is expected to be a hybrid gold-backed currency structure. This shift is driven by a combination of factors, including persistent inflation, geopolitical tensions, and diminishing trust in fiat currencies.

As gold’s value reaches historic highs against the US Dollar, it becomes clear that the global economy is pivoting towards a new foundation.

The rise in gold prices signals a broader awakening to the limitations of fiat currencies, positioning gold as the cornerstone of the forthcoming Global Currency Reset (GCR) and Revaluation of Currencies (RV).

This transformation underscores the growing consensus that gold will play a pivotal role in the future monetary system, offering stability and reliability in an increasingly uncertain financial landscape.

In This Article

• Overview of Recent Gold Price Surge

• Analysis of Factors Driving Gold’s Rise

• The Decline of Fiat Currencies

• Predictions for Gold in the Global Currency Reset

Gold prices have reached record highs, driven by a combination of economic uncertainty and shifting market dynamics. As traditional fiat currencies face increasing skepticism, gold’s role as a stable financial asset is becoming more prominent.

Recent Surge in Gold Prices

Gold prices soared today, hitting new record highs.

This rise was fueled by growing expectations of U.S. interest rate cuts, which have weakened the dollar and increased gold’s appeal as an investment. The August gold contract on Comex climbed to $2,467.80 an ounce, surpassing previous records.

This trend reflects a broader shift in investor sentiment as traditional financial systems face mounting pressures.

Factors Driving Gold’s Rise

Several factors contribute to the recent surge in gold prices.

Key among these is the anticipated interest rate cuts by the Federal Reserve, which have led to a decline in Treasury yields and the dollar’s value. Lower interest rates diminish the returns on fixed-income assets, making gold, which does not yield interest, more attractive.

Economic data showing weaker performance and declining inflation has further pressured bond yields. As Fawad Razaqzada, a market analyst at City Index, notes, “The weakness in economic data and falling inflationary pressures boost the appeal of low- and zero-yielding assets, thereby keeping the gold outlook positive.”

The Decline of Fiat Currencies

The rising value of gold also highlights a growing disenchantment with fiat currencies.

The current fiat currency financial system, burdened by increasing debt and economic instability, appears to be nearing a critical breaking point.

This sentiment is echoed by Edmund Moy, a senior IRA strategist at U.S. Money Reserve, who points out that political uncertainty and economic underperformance in major economies like China are driving investors toward gold. “Rising gold demand and limited gold supply usually equals higher gold prices,” Moy says, emphasizing gold’s enduring appeal as a safe-haven asset.

Predictions for Gold in the Global Currency Reset

Looking ahead, the potential for a Global Currency Reset (GCR) and the Revaluation of Currencies (RV) positions gold at the center of a new financial paradigm.

As fiat currencies falter, a hybrid gold-backed currency system is emerging as a viable alternative. Ryan McIntyre of Sprott predicts a new wave of demand for gold from financial advisers and institutions, driven by increasing instability in traditional financial and monetary markets.

This optimistic outlook is based on the expectation of eventual interest rate cuts, geopolitical instability, and continued demand from central banks.

The Bottom Line

Gold’s unprecedented rise underscores a pivotal moment in the global financial landscape.

As fiat currencies show signs of distress, gold is being recognized as a stable and reliable asset. This shift is not just a temporary trend but signals a potential transformation towards a gold-backed currency system.

Investors and financial institutions are increasingly turning to gold, anticipating its critical role in the forthcoming Global Currency Reset and Revaluation of Currencies.

Contributing Articles:

• https://www.marketwatch.com/story/why-gold-prices-look-to-smash-more-records-9eba107f

• https://www.reuters.com/markets/commodities/gold-firms-us-rate-cut-optimism-boosts-appeal-2024-07-16/

• https://www.cbsnews.com/news/how-high-will-the-price-of-gold-go-heres-what-some-experts-think/

• https://www.cbsnews.com/news/gold-prices-have-hit-a-new-record-high-5-moves-to-make-now/

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Seeds of Wisdom RV and Economics Updates Wednesday Afternoon 7-17-24

Good Afternoon Dinar Recaps,

OPEC Plus alliance agreement enhances the balance of the global oil market in the second half of 2024

Russia announced that the global oil market will be balanced in the second half of the year and beyond thanks to the OPEC Plus alliance agreement on production.

Russian Deputy Prime Minister Alexander Novak said that the OPEC Plus alliance, which includes the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, has been implementing a series of production cuts since late 2022 to support the market.

The Alliance agreed on June 2 to extend the previous cut of 2.2 million barrels per day until the end of September and gradually remove it starting in October.

The US Energy Information Administration said last week that global oil demand will exceed production by about 750,000 barrels per day in the second half of 2024 due to the decline in OPEC Plus production.

The OPEC report last week also indicated a deficit in oil supplies in the coming months and in 2025.

Novak explained that the global oil market will be balanced thanks to Russia’s moves.

Source: National Iraqi News Agency

@ Newshounds News™

Read more:  Iraq News Gazette

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TOKENIZED GOLD- WHAT IS IT?

" Tokenization of gold is one of the recent blockchain use cases quickly gaining popularity among crypto enthusiasts, investors, and businesses. The present-day market cap of tokenized gold has already reached 1.17 billion, which is a firm upward trend reflecting the rising prices of physical gold. "

" But is investing in a gold-backed cryptocurrency as safe as physical gold? What are the benefits of tokenized gold, and what risks are involved?"

"Investment in ETFs is a safer option in terms of pure gold investment. Yet, ETFs are not stocks, bonds, or other securities that you may hold in your bank account and exchange for physical gold. Like any other ETFs, gold-backed ones are only derivatives of the stock exchange instrument that an owner doesn’t actually own. That’s why such investments are also a risky strategy with limited investor control. "
"When it comes to investment in tokenized gold, things are much more transparent and simpler for investors here. The scheme works as follows: "

1. The project acquires a certain amount of physical gold and stores it securely in its deposits.

2. The company issues tokenized gold coins, the cumulative number and value of which equal the amount of gold in its vaults.  

3. The coins get into circulation and are used by traders, project users, buyers, and sellers. Their price is stably pegged to the price of gold, and in some cases, the coins may be exchanged for the respective amount of physical gold at any moment the owner claims such a possibility.

"This way, you may perceive digital gold as gold ownership tokens – securities that verify your right to a specific amount of physical gold."

THE ROLE OF BLOCKCHAIN IN GOLD INVESTMENT
"All of the risks and challenges with digital gold security, liquidity, and fungibility have given rise and popularity to the tokenized gold market. Digital gold is equivalent to physical gold stored in a safe location by the coin’s issuer, which frees you from the need to take care of the gold storage solutions."

"At the same time, every coin you own comes with the ownership right for physical gold, giving you direct ownership rights, unlike those of gold ETF investments. These are the reasons why tokenization of precious metals has become so popular in the crypto space. "

"All in all, gold investments open many exciting opportunities for you.."
1.  First, you can address inflation by investing in this conservative instrument with fewer risks and limitations.
2. Second, you can take advantage of the rising gold prices similar to traditional gold investments.
3. Third, getting some digital gold to your portfolio is always a great diversification measure that can protect your assets from rapid price turns in the crypto market.  

@ Newshounds News™

Read more:   4 IRE Labs

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Study: Digital Wallets to Overtake Debit Cards for In-Store Payments by 2027

Digital wallets have revolutionized the payment space in recent years. They provide an easy, contactless and secure way to make purchases and transfer money through the convenience of smartphones.

The method is the fastest-growing payment option in the United States, which is especially true among younger consumers. Most Americans say they use digital wallets more often than traditional payment methods. Even more intriguingly, consumers who use this payment method tend to spend more than nonusers. According to a new Worldpay report, the payment method will overtake debit cards in transaction value in North America for in-store payments by 2027.

Digital wallets’ popularity and payment values make them a priority tool for businesses to incorporate into their payment suites. However, merchants have some catching up to do to keep pace with this unstoppable trend. Some notable stumbling blocks — including perceptions about security, complexity and legacy technology — are still holding many back.

The “Money Mobility Tracker®” examines the meteoric rise of digital wallets. It also looks at how payment providers can help small merchants overcome concerns about security, complexity and technology to offer this payment method to their customers.

—Convenience Translates to Higher Use — and Spending
—Broadening Merchant Adoption of Digital Wallets
—Consumers Crave Additional Uses and Features in Digital Wallets

@ Newshounds News™

Read more:  PYMNTS 

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HOW DO YOU INVEST IN TOKENIZED GOLD AND SILVER?

"In recent years, the concept of tokenizing real-world assets (RWAs) has gained significant traction in the world of finance and investment. RWAs refer to the process of representing physical or financial assets on a blockchain through the use of tokens. This innovative approach has opened up new opportunities for investors, particularly in the realm of precious metals."

REMEMBER THIS TERM- (RWA) Real World Assets)

"By incorporating tokenized precious metals into a well-balanced investment portfolio, investors can potentially mitigate risk and protect their wealth from the erosive effects of inflation."

The Process of Investing in Tokenized Precious Metals
"Investing in tokenized precious metals is a straightforward process, but it requires careful consideration and due diligence."

1. The first step in investing in tokenized precious metals is selecting a reputable platform or issuer. It is crucial to choose a provider with a proven track record, strong security measures, and transparent operations.

2. Understanding the custody and storage of the underlying physical assets is another critical factor when investing in tokenized precious metals. Reputable issuers should provide clear information about the location and security of the vaults where the physical precious metals are stored.

3. Once you have selected a reputable platform and evaluated the regulatory compliance, the next step is purchasing and storing the tokenized precious metals. Investors can typically buy tokenized precious metals directly from the issuer or on secondary markets, such as cryptocurrency exchanges.

4. Finally, some tokenized precious metals platforms offer the option to redeem the tokens for physical precious metals. This feature provides investors with the flexibility to convert their digital holdings into tangible assets if desired.

"One of the primary risks associated with tokenized precious metals is regulatory uncertainty and the evolving legal landscape. As highlighted in The Legal Roadmap: Tokenizing Commodities within Regulatory Frameworks, the regulatory environment for tokenized assets varies across jurisdictions, and there is a lack of clear global consensus."

@ Newshounds News™

Read more:  Block Apps

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Why is XRP price up today?

XRP has outperformed the broader crypto market, boosted by its underbought RSI and whale interest.

Crypto market rebound boosts XRP higher
On July 17, XRP price jumped by nearly 7% to $0.618, its highest in three months, despite the sell-off fears led by the ongoing Mt. Gox reimbursement. The XRP/USD pair has climbed by around 62.20% when measured from its local low of $0.381 established on July 5.

Interestingly, the crypto market capitalization has vastly underperformed XRP’s rebound, rising by about 24.50% in the same period. In fact, XRP/USD is still down 1.71% year-to-date compared to the crypto market’s 40% returns.

This puts XRP holders in a good position to benefit from such a catch-up rally, particularly with growing interest rate cut chances in September.

"We might be on the verge of witnessing one of the most significant breakouts in crypto history," stated pseudonymous crypto trader Crypto Michael on X. He highlighted a bullish pennant pattern forming on XRP’s price chart over seven years, a rare occurrence where the price consolidates within a triangle pattern following a strong upward movement.

@ Newshounds News™

Read more:  Coin Telegraph

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Hong Kong to Prepare Stablecoin Legislation as Public Consultation Ends

Hong Kong authorities plan to introduce a bill into the Legislative Council before year-end.

—Hong Kong's regulators published the conclusions from their consultation on a stablecoin regime.
—The next step is to prepare a bill for the Legislative Council.

Hong Kong's financial regulators said they plan to present a bill on fiat-referenced stablecoins to the Legislative Council later this year.

The Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) published the results of a consultation, and concluded that the stablecoin regime would "primarily focus on representations of value which rest on ledgers that are operated in a decentralised manner" in which "no person has the unilateral authority to control or materially alter its functionality or operation."

The consultation paper for stablecoin guidelines published at the end of last year received 108 submissions from stakeholders. The regulators plan to take suggestions from respondents before finalizing the bill for the legislative process.

The regulators confirmed their initial proposal that any person who issues a stablecoin in Hong Kong must obtain a license. While they say keeping reserve assets with banks licensed in Hong Kong could provide greater user protection, they are open to considering proposals on placing reserve assets in other jurisdictions.

Foreign entities intending to apply for a license will be required to establish a Hong Kong subsidiary and have key management personnel, including a CEO, in the territory.

After considering the responses, the HKMA said it is "inclined to reduce the frequency of public disclosure." It had proposed monthly attestation by an independent auditor, and will continue discussions on the matter.

Hong Kong is trying to keep pace with other major jurisdictions in becoming a leading crypto hub. Europe's MiCA stablecoin regime came into force this month and members of Congress in the U.S. are actively attempting to push forward stablecoin bills.

In March, the HKMA started a regulatory sandbox to give potential stablecoin issuers immunity in testing certain operations. In today's announcement, the HKMA said it is processing the applications for the stablecoin issuer sandbox and will announce more shortly.

@ Newshounds News™

Read more:  Coindesk, HKMA,  Coindesk Policy

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BRICS Overtake US and G7 According to IMF: Is it the end of Bullying?

BRICS Overtake US and G7 According to IMF: Is it the end of Bullying?

Fastepo:  7-17-2024

In recent years, the BRICS countries have shown remarkable economic dynamism, often outpacing the traditional economic powerhouses of the G7. This trend is highlighted in the latest International Monetary Fund (IMF) World Economic Outlook report, a key publication from one of the major Western-led financial institutions which is released on July 16th, 2024.

According to the IMF's projections for 2024-2025, these emerging markets are not only recovering robustly from the global disruptions of the past few years but are also establishing themselves as pivotal engines of global growth.

The IMF report underscores a significant shift in the global economic landscape. While advanced economies such as those in the G7 are expected to maintain steady but modest growth rates, the BRICS countries and their emerging market peers are projected to experience much higher growth trajectories.

 In this video, we delve into discuss the details of this report by comparing BRICS countries against G7. This divergence in growth rates is not just a temporary phenomenon but a reflection of deeper structural changes and strategic economic policies in these emerging markets.

The BRICS nations and their allies are leveraging their large populations, growing middle classes, and strategic investments in infrastructure and technology to boost their economic performance. In contrast, the G7 countries are grappling with aging populations, slower productivity growth, and the lingering effects of the financial crises and economic uncertainties.

As the IMF report indicates, the global economic center of gravity is gradually shifting towards these dynamic emerging markets.

This shift is likely to have profound implications for global trade, investment, and geopolitical relations. The sustained higher growth rates in the BRICS and other emerging economies highlight the increasing importance of these countries in driving global economic progress and underscore the need for a more inclusive and representative global economic governance structure.

https://www.youtube.com/watch?v=bI9ScJNF-6k