Seeds of Wisdom RV and Economics Updates Saturday Afternoon 7-20-24

Good Afternoon Dinar Recaps,

JORDAN LAUNCHES NATIONAL TECHNOLOGY NETWORK

The Ministry of Digital Economy and Entrepreneurship in Jordan has launched a national blockchain technology network in partnership with Jordanian blockchain company Blockexe. The implementation of blockchain technology in Jordan’s government sector aligns with the Jordanian Digital Transformation Strategy (2021-2025).

Enhancing Trust in Government Services

On July 17, the Jordanian Ministry of Digital Economy and Entrepreneurship announced its partnership with local blockchain company Blockexe to launch a national blockchain technology network called Modee Dlt. This protocol aims to enhance trust and transparency in government services.

The blockchain network has been integrated with the Jordanian government portal, allowing for decentralized and verifiable digital records of all Sanad transactions. According to a report, this implementation aligns with the Middle Eastern nation’s Digital Transformation Strategy (2021-2025), which focuses on strengthening the country’s digital infrastructure.

Under Jordan’s ambitious strategy, innovation, as well as private and public sector partnerships, are seen as key enablers; hence, they are encouraged. Investments in critical information technology infrastructure, including broadband expansion and 5G deployment, are similarly viewed as important enablers. When achieved, these and five other enablers help Jordan improve the quality of life for its citizens.

Meanwhile, the Ministry emphasized that utilizing the blockchain network across various government sectors will create a reliable digital environment, supporting the Kingdom’s broader goals of achieving a robust and trustworthy digital economy.

In addition to enhancing trust in government, this initiative aims to streamline the integration of e-government services, making them more transparent, efficient, and competitive both locally and internationally.

@ Newshounds News™

Read More:  Bitcoin News

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BANK OF INTERNATIONAL SETTLEMENTS ISSUE NEW RULES FOR XRP

"The BIS, which positions itself as a bank for central banks globally, has introduced new regulations governing banks’ exposure to Group 2 cryptocurrencies. Notably, the BIS had in the past defined what Group 2 crypto assets are in an effort to separate them from other cryptocurrencies."

"Group 2 assets include unbacked crypto assets such as XRP, Bitcoin (BTC), and Ethereum (ETH). The category also contains stablecoins that lack effective stability mechanisms. According to the BIS’ classifications, these assets are riskier due to their volatility."

"In the latest requirements, the BIS has stipulated that a bank’s total exposure to all these Group 2 assets must not exceed 1% of its Tier 1 capital. For the uninitiated, the Tier 1 Capital represents a bank’s core capital."

"This capital is the primary financial buffer that absorbs losses, ensuring the bank’s stability. Per the BIS requirement, if a bank with $1 trillion in Tier 1 Capital seeks to hold XRP and other assets in Group 2, the combined worth of all assets must not be more than $10 billion."

"Crypto regulations have taken focus in recent times as the industry pushes further into the mainstream scene. For instance, the European Union recently enacted the first part of its MiCA regulations, affecting stablecoins.

"Mainstream banks have begun gaining exposure to crypto assets. Recall that last December the Basel Committee disclosed the crypto holdings of 19 banks across different regions. The disclosure confirmed that these banks held $205 million in XRP at the time.

Despite this, XRP has not commanded as much adoption from banks and financial institutions due to the ongoing SEC lawsuit. Anderson, a crypto researcher, argued in February that XRP might not see increased adoption by banks until the U.S. SEC publicly declares it is not a security."

"Per the publication, the BIS’ recent requirements are set to take effect on JANUARY 1, 2026"

@ Newshounds News™

Read more:  Crypto News

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THE CENTRAL BANK OF THE UAE (CBUAE) and NATIONAL BANK OF ETHIOPIA (NBE) have signed an agreement to enhance financial and commercial co-operation between the two nations, in a deal worth AED 3 billion.

"Both parties also entered into two Memorandum of Understanding (MoU) to establish a framework for the use of LOCAL CURRENCIES in settling cross-border transactions and for linking their payment and messaging systems.

The agreement allows the CBUAE and the NBE to SWAP LOCAL CURRENCIES with a nominal value of up to AED 3 billion and ETB 46 billion, supporting the financial and commercial cooperation between the UAE and Ethiopia through the provision of LIQUIDITY IN LOCAL CURRENCIES to financial markets, enabling more effective and efficient settlement of cross-border transactions."

"Both parties will cooperate under the second MoU in the areas of PAYMENT PLATFORM SERVICES and ELECTRONIC SWITCHES, by interlinking their instant payment systems, national card switches UAESWITCH and ETHSWITCH, and messaging systems in accordance with the regulatory requirements of each country, in addition to the cooperation in the field of financial technology and CENTRAL BANK DIGITAL CURRENCIES."

"“The bilateral CURRENCY SWAP AGREEMENT and the MoUs signed today reflect the robust economic cooperation between the UAE and Ethiopia, specifically in the areas of trade and investment. SWAPPING THE CURRENCIES of the two countries and utilizing LOCAL CURRENCIES to settle cross-border transactions and enhancing the cooperation in interlinking instant payment systems, electronic switches and messaging systems will enhance economic, trade, and investment prospects. "

"The currency swap arrangement provides an important funding opportunity for Ethiopia and helps diversify the range of currencies at its disposal to facilitate the growing volume of trade and investment transactions expected over the coming years."

@ Newshounds News™

Read more:  ARN News Center

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Currency Swaps: Definition, How and Why They're Done

"A currency swap involves the exchange of interest—and sometimes of principal—in one currency for the same in another currency.

Companies doing business abroad often use currency swaps to get more favorable loan rates in the local currency than if they borrowed money from a local bank.

Considered to be a foreign exchange transaction, currency swaps are not required by law to be shown on a company's balance sheet.

Interest rate variations for currency swaps include fixed rate to fixed rate, floating rate to floating rate, or fixed rate to floating rate."

" Currency swaps were originally done to get around exchange controls, governmental limitations on the purchase and/or sale of currencies. Although nations with weak and/or developing economies generally use foreign exchange controls to limit speculation against their currencies, most developed economies have eliminated controls nowadays."

"So swaps are now done most commonly to hedge long-term investments and to change the interest rate exposure of the two parties. Companies doing business abroad often use currency swaps to get more favorable loan rates in the local currency than they could if they borrowed money from a bank in that country."

"Currency swaps are important financial instruments used by banks, investors, and multinational corporations."

"In a currency swap, the parties agree in advance whether or not they will exchange the principal amounts of the two currencies at the beginning of the transaction. The two principal amounts create an implied exchange rate. For example, if a swap involves exchanging €10 million versus $12.5 million, that creates an implied EUR/USD exchange rate of 1.25. At maturity, the same two principal amounts must be exchanged, which creates exchange rate risk as the market may have moved far from 1.25 in the intervening years. "

@ Newshounds News™

Read more:  Investopedia

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DIGITAL RUSSIAN RUBLE CBDC

"Putin wants to speed up deployment of Russia’s CBDC.
During a meeting on economic issues earlier this week, Vladimir Putin seemed keen for Russia’s central bank digital currency (CBDC) pilots to accelerate, according to Russian news agency TASS.

“Now we need to take the next step, namely to move to a broader, full-scale implementation of the digital ruble in the economy, in economic activity and in the field of finance,” he said. Digital ruble trials started in August last year after months of delays waiting for supporting legislation.

The first wave of tests involved a dozen banks, with a second wave due to start in September with up to 19 additional banks, including Russia’s largest, Sber."

"“It is important for Russia to ‘seize the moment’, as they say, to create the legal framework and regulation in a timely manner, to develop infrastructure, to create conditions for the circulation of digital assets, both within the country and in relations with foreign partners,” he said."

"Russia already has a digital financial asset (DFA) framework for tokenized assets, including commodities such as gold. The usage of DFA such as tokenized gold for payments is banned. However, the country recently passed legislation supporting their use for cross border payments. Plus, Iran said it was working with Russia on CBDC and tokenized asset payments."

"Likewise, the central bank governor recently said that it was acceptable to use cryptocurrencies for international payments if it helps address sanctions"

"This underlines Putin’s desire to accelerate other modes of payment, particularly new digital technologies such as CBDC and digital assets that sidestep the West."

@ Newshounds News™

Read more:  Ledger Insights
https://www.ledgerinsights.com/putin-wants-to-speed-up-deployment-of-russias-cbdc/

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CBDC ADOPTION IS A MATTER OF "WHEN" NOT "IF"

"RESERVE BANK OF INDIA (RBI) released a Central Bank Digital Currency (CBDC) called the Digital Rupee in 2022. The Digital Rupee is supposed to carry the same force as traditional currency. Pati mentioned that the regulator sees CBDC as a product for the future, with 140 countries exploring CBDC at various stages. “At some point of time, we would see that CBDC provides a good, safe and secure alternative to cash, and reduces our dependence on currency. This would also reduce the need for printing, distributing, retrieving back those currency notes and replenishing them,” Pati pointed out."

"RBI’s Chief General Manager for the Fintech Department, Suvendu Pati, said during Assocham’s India International Fintech Festival. “We didn’t want to impinge on fintechs because they are at different stages of development and they require treatment that improves their innovation,” Pati mentioned."

Pati emphasized the utility of CBDCs for cross-border money transfers. He said that cross-border payments have three challenges—
1. High remittance costs
2. Timelines for payments/ time zone restrictions
3. The lack of adequate transparency in tracking money back to the receipt

"“CBDC through its technology and tokenized way of transfers offers to break all these barriers and restrictions,” he mentioned. He added that India has entered into pilot agreements with a few countries and joined multi-lateral projects to this effect.

“This is one area where I would encourage apart from the traditional banks which are a part of the [CBDC] distribution systems, fintechs and NBFCs should also enter this segment because the potential for innovation is immense,” he said, adding that the regulator has started programmability as a part of CBDC to monitor the end use of the currency."

@ Newshounds News™

Read more:  Currency Insider

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More News, Rumors and Opinions Saturday Afternoon 7-20-2024

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. 20 July 2024

Compiled Sat. 20 July 2024 12:01 am EST by Judy Byington,

Fri. 19 July 2024 on NESARA, The 17th Letter (JFK Jr.)

As the clock ticks down to this financial D-Day, one thing is clear – the world as we know it is about to change. The question is, are you ready to be a part of this revolution?

In a world where the truth is often stranger than fiction, a groundbreaking revelation stands on the brink of transforming our very existence. This is not just another story; this is the untold narrative of NESARA, a plan so monumental, it redefines the global financial and political landscape.

Imagine a world where financial abundance is not just a dream but a tangible reality. A world where every human being could be a millionaire in British pounds, free from the shackles of debt. This isn’t a fantasy; it’s a hidden truth, veiled from the public eye, but now, it’s time to pull back the curtain.

NESARA, a term that resonates with the promise of justice and equality, is set to revolutionize our planet’s resource distribution. This isn’t just about monetary reform; it’s a complete overhaul of the banking system, designed to extend its benevolent reach to every corner of the globe. The plan is so comprehensive, so all-encompassing, that no individual or organization, no matter how powerful, can halt its momentum.

The implications are staggering. Credit card debts, mortgages, and other financial burdens imposed by corrupt banking practices will be wiped clean. The oppressive yoke of income tax will be lifted, replaced by a fair, fixed tax on non-essential new items. This isn’t just a financial reset; it’s a liberation of the common man from the clutches of fiscal.

The financial landscape will be revolutionized with the introduction of a new U.S. Treasury rainbow currency backed by precious metals. The Federal Reserve System, a symbol of financial manipulation, will be dismantled. Personal financial privacy will be restored, and all legal professionals will be retrained in Constitutional Law.

NESARA’s vision is not just national but global. Aggressive U.S. military actions worldwide will cease, ushering in an era of unprecedented global peace. Every American citizen over 21 will receive $100,000 monthly for 11 years, but first, the claims of the Farmers will be addressed, including a $300,000 debt forgiveness for each farming family.

This is not just about America; similar reforms will ripple across the globe. Enormous funds will be allocated for humanitarian purposes. Suppressed technologies, such as free energy devices, pollution-cleaning equipment, and sonic healing machines, will be released for the benefit of all.

The term “NESARA” may have been shrouded in secrecy, unable to be used publicly to describe this global package of prosperity and humanitarian aid. But the time for secrecy is over.

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Fri. 19 July, Ben Fulford: Pay attention in the near future. It’s very close: PROJECT ODIN=EBS

This will release the NESARA/GESARA funds and then we the people will begin to rebuild. This event is truly biblical.

Global Failure of Information Technology Outage: Because of a massive failure at CloudStrike a mass global outage has taken businesses, including banks, airlines, telecommunications companies, TV and radio broadcasters, and supermarkets, offline. Major US airlines have been grounded. Issues have been reported in Australia, India, the United States, and New Zealand. The outage seems to be affecting Windows PCs worldwide.

Fri. 19 July 2024 Wolverine: “This is it guys. This might the EBS we’ve been waiting for: https://www.news.com.au/technology/online/massive-outage-hits-companies-around-the-world/news-story/e02375a976a08b45e72e64040fe14362

Fri. 19 July 2024: BREAKING! EBS Alert! Global internet outage grounds flights; Banks: https://youtube.com/live/pqWmI_S1LsU?si=r7dXTTcvw7RmQPw6

European Bank Swift System Outage. https://www.pymnts.com/news/banking/2024/european-central-bank-swift-outage-affected-real-time-gross-settlement-system/

London Stock Exchange Suffersn Outages Amid Global Tech Issues

ISRAEL CENTRAL BANK SAYS CROWDSTRIKE ISSUE AFFECTING BANKS

A global outage is under way. The outage is also affecting multiple major institutions, with crowd-sourced website Downdetector listing outages for Foxtel, NAB, Bendigo Bank, Suncorp Bank, Commonwealth Bank, Me Bank and more. Computer systems have crashed, with machines continually restarting.

Read full post here:  https://dinarchronicles.com/2024/07/20/restored-republic-via-a-gcr-update-as-of-july-20-2024/

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

Mnt Goat   ...This current Al-Sudani administration is now moving Iraq ahead, yes out of this past rut...It is right in our faces now...The train is racing down the track only to make the necessary stops along the way...It is a hard road for Iraq... There is work to be done...No more “guessing” or “hoping”. The reinstatement spigot is now wide open!  It is in our faces!...

Sandy Ingram   Question: "How is Iraq going to do business in the international market with such a low currency rate?"  This is why Iraq will need to increase the value of its currency.  Currency values... act as a silent force influencing a country's global competitiveness.  When a country's currency value is low it can impact it's ability to compete...Iraq's top trading partners are China, India, South Korea and on the sidelines Iran.  However things are about to change and fast.  The development road project places Iraq right in the middle of the global financial markets.  [We] have little doubt the Iraqi dinar will increase in value but we don't know when or how much.

Aggressive Sell-Off' Here; Did Japan Just 'Break' U.S. Financial System? | Michael Gayed

David Lin:  7-19-2024

Michael Gayed, Portfolio Manager of Tidal Financial Group, discusses the "suspected" Bank Of Japan intervention last week and the subsequent U.S. stock markets correction this week.

0:00 – Intro

 1:00 - Yen Carry Trade

7:34 - Small caps stocks

12:45 - Lumber/gold

14:16 - Non-tech sectors

18:55 - Bonds outlook

22:30 - Tariffs and inflation

 24:00 - Taxes and markets

25:44 - Debt maturing

 26:50 - Market outlook overview

https://www.youtube.com/watch?v=UEo3yKHOT4k

The BRICS are Changing the Landscape for Gold Investors

Peter Grandich: The BRICS are Changing the Landscape for Gold Investors

Palisades Gold Radio:  7-20-2024

Tom welcomes returning guest Peter Grandich from Peter Grandich and Company for a discussion on current economic risks and market trends.

Grandich expresses concern over the markets' failure to acknowledge major issues. He argues that gold markets show some recognition of these issues, while the stock market remains complacent.

With experience through three financial crises, Grandich warns that this situation is more severe due to political division and lack of meaningful solutions from Congress or the Fed.

He criticizes the Fed's role in exacerbating debt through money creation during the pandemic.

Peter discusses societal shifts towards consuming beyond means and their impact on happiness, the stock market, and the economy.

He traces these trends to the influence of television and the internet, which have convinced people that they need more money for happiness. They note that some of the happiest people have little or no wealth while some wealthy individuals are unhappy.

 He criticize politicians' approach to economics compared to household management, resulting in societal issues like increasing consumer debt and a culture of living beyond it's means.

Grandich discusses potential risks to the markets, including political instability leading up to the U.S. election and the impact on foreign investors divesting from American securities.

He emphasizes gold's importance as a store of value in the new economic structure and advocates for capital preservation due to perceived market overvaluation.

Grandich encourages individuals to build a "financial ark" through self-sufficiency, preparing for potential financial hardships, and diversifying portfolios with stocks, bonds, and gold. He also mentions the junior resource market as an area of potential undervaluation for companies searching for metals and base metals.

Time Stamp References:

0:00 – Introduction

 0:31 - Markets & Uncertainty

2:12 - Fixing Things & Politics

5:40 - Exponential Debt Crises

8:30 - Mass Media & Marketing

10:57 - Historic Comparisons

 13:55 - Fed Perception/Reality

 16:58 - Dot Plots & Fed Cuts

19:26 - Political Turmoil Risk

23:59 - BRICS Alliance & Gold

 28:20 - Building a Financial Ark

32:19 - Defining Bubbles

35:56 - Anti-Bubble Opportunities

 38:52 - Thoughts on Uranium

41:27 - Base Metals & Miners

46:35 - Crash Scenarios & Gold

49:20 - Wrap Up

https://www.youtube.com/watch?v=GVNhPKF05Vw

“Tidbits From TNT” Saturday Morning 7-20-2024

TNT:

Tishwash:  Trade participates in UNCTAD meetings on Arab countries’ accession to WTO

The Ministry of Trade announced, today, Saturday, its participation in the technical meetings of the UNCTAD regarding the accession of Arab countries to the World Trade Organization in Istanbul.

The ministry stated in a statement received by the Iraqi News Agency (INA), that "it participated today in the technical meetings organized by UNCTAD in Istanbul, which will last for two days, to discuss the experiences of Arab countries in joining the World Trade Organization."

The Director General of the Department of Foreign Economic Relations, Riyadh Fakher Al-Hashemi, who represented the Ministry of Trade in these meetings, said, according to the statement, that "the meetings discussed the outcomes of the 13th Ministerial Conference of the World Trade Organization, the process of Arab countries' accession to the organization, and how Iraq can benefit from these experiences in its path to joining, and the importance of trade in services in supporting the economies of Arab countries and enhancing their growth was also reviewed."

Al-Hashemi stressed that "Iraq's participation in these technical meetings enhances the experience of the Iraqi negotiating team, and pushes it to move forward quickly towards achieving full accession to the World Trade Organization, as the exchange of knowledge and experiences gained from these meetings will have a significant positive impact on improving Iraq's negotiating capabilities and achieving its economic goals."

The statement indicated that "this participation is part of the ongoing efforts made by the Ministry of Trade to enhance Iraq's international economic relations, and to take advantage of the available opportunities to enhance economic and commercial development in the country."  link

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Tishwash:  What is the benefit of Iraq joining the World Trade Organization? Al-Monitor sheds light on the "secrets"

Iraq announced the resumption of negotiations to join the World Trade Organization for the first time since 2008, a step that may benefit the Iraqi economy but will take a long time.

Al-Monitor reported in a report translated by "Al-Eqtisad News" that "the Iraqi negotiating teams began "preparatory meetings" at the headquarters of the World Trade Organization in Geneva, and the Iraqi delegation included officials from ministries in the federal government and the Kurdistan Regional Government, while another meeting will be held at an unspecified date to review Iraq's accession to the World Trade Organization."

The World Trade Organization is an intergovernmental organization that aims to promote international trade. It provides a platform for governments to negotiate trade rules and disputes among themselves. Member states make key decisions. The WTO has 164 members who say they are responsible for 98% of world trade.

Iraq first applied to join the WTO in 2004, the year after the U.S. invasion that toppled dictator Saddam Hussein. A “working group” was then set up, but there has been little progress since then. The group last met formally in 2008. An informal meeting was held in 2017, according to the WTO’s website.

The process has gained significant momentum recently. In January, a WTO delegation visited Baghdad “to mobilize political support for the resumption of Iraq’s WTO accession process.” The discussion focused on Iraq’s economic reforms and was led by Saqr bin Abdullah Al-Muqbil, Saudi Arabia’s ambassador to the WTO and chair of the Iraq Accession Working Group, the organization said in a statement at the time.

A basic requirement for WTO accession is consistent trade policies across the country, including tariff rates and customs procedures. Thus, differences in the tariff structure between the federal government and the Kurdistan Regional Government have been an obstacle to Iraq’s efforts to join the WTO.

The UN team for Iraq said in a statement that Iraq decided to unify the two customs systems in 2019, and the Federal Ministry of Finance finally approved the unified customs tariff framework in February of this year.

Joining the WTO could benefit Iraq. According to a report issued by the Council on Foreign Relations in April 2023, the WTO has been largely successful in expanding free trade.

The Council noted that the dollar value of international trade has quadrupled since the establishment of the World Trade Organization in 1995, and that average tariffs do not exceed 3%.

According to the Council on Foreign Relations, there are also negative aspects to the WTO.

The council noted in the report that "globalization and free trade have their drawbacks. These include the potential for economic inequality and job loss."

The WTO has been particularly criticized for its application of rules toward China.

“The WTO is also struggling to perform its third function – enforcing the rules – particularly with China. Since joining the WTO in 2001, China has violated global trade rules by providing extensive subsidies to its domestic industries and stealing technology and other intellectual property. China has faced few, if any, consequences for its actions,” the council said.

China has a growing presence in Iraq, and there have been significant Chinese investments in Iraqi oil and infrastructure in recent years.

The WTO says it has helped facilitate poverty alleviation in developing economies by promoting trade.

In September 2023, WTO Director-General Ngozi Okonjo-Iweala told the Center for Strategic and International Studies: “Over the past generation, market-oriented reforms in places like Eastern Europe, India, and China, together with the open global economy anchored in the GATT/WTO system, have boosted growth and trade and helped lift more than a billion people out of extreme poverty.”

GATT stands for General Agreement on Tariffs and Trade, the predecessor to the World Trade Organization.

Iraq's trade is dominated by oil. Crude oil accounted for 90% of Iraq's $123 billion in exports in 2022. Iraq imported $67.1 billion that year, with the main imports being refined petroleum, broadcasting equipment, and cars.

These figures gave Iraq a trade surplus of more than $50 billion in 2022, according to the Observatory of Economic Complexity.

Iraq may have a long wait before joining the WTO. East Timor joined in February after seven years of negotiations. Comoros joined at the same time — a process that took 17 years, Arabian Gulf Business Insight reported at the time.  link

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Tishwash: Opening a group of factories and plants in the field of military industries in Iraq

Prime Minister Mohammed Shia Al-Sudani inaugurated today, Saturday, a group of factories and plants in the field of military industries.

The Prime Minister's Media Office stated in a statement received by "Al-Eqtisad News" that "Prime Minister Mohammed Shia Al-Sudani reviewed the executive work of the project to produce medium-range ammunition, oils and electric cars at the Military Industrialization Authority."

He added that "the Prime Minister inaugurated the distribution and power transformer rehabilitation and maintenance laboratory/first phase, the qualitative testing laboratories and the firing ranges for the light equipment production line in the Military Industrialization Authority's industrial complex."

He pointed out that "the Prime Minister launched the executive work on the capsule factory project for light ammunition, affiliated with the General Military Industries Company, and launched the executive work on the military and civilian boats production factory project in the industrial complex of the Military Industrialization Authority."

He added that "Al-Sudani inaugurated the iron alloys and colored metals factory at the General Military Industries Company."
Prime Minister Mohammed Shia Al-Sudani inaugurated today, Saturday, the factories for the production of light ammunition and mortar shells at the industrial complex of the Military Industrialization Authority.

This morning, the Prime Minister arrived at the industrial complex of the Military Industrialization Authority south of Baghdad to inaugurate a number of military production factories and rehabilitation laboratories.  link

Mot:  .. AHAH!!!! -- it was ---

Mot: . As Ya Become More and More Seasoned !!!!

News, Rumors and Opinions Saturday AM 7-20-2024

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. 20 July 2024

Compiled Sat. 20 July 2024 12:01 am EST by Judy Byington,

A Global Blackout was necessary for NESARA/GESARA to be entered: Major Alert! Rolling Blackouts Across the World Happening Right Now! Banks Are Shutting Down! All Flights Are Being Cancelled! The Stock Market Has Crashed! Mass Media Will Be Gone! The Internet Will Be Shut Off! A Global Cyber Outage is Affecting Airlines, Banks and Media From the US to Australia

Global Currency Reset: (“Rumors/Opinions )

Fri. 19 July 2024 Wolverine: New Dinar Rate published Sun. night. Tier4b notification Mon. 22 July.

The Pretorious Group has started in Brazil – about 7 to 8 leaders that have been paid.

We will be hearing about the global startup on Monday 22 July. It was going to be Saturday, but now it is set for Monday. There were no delays, going beautifully right now, just that it will be Monday.

Pentecostal Group is quiet as they have been told to stay quiet and send no audios. They started paying their leaders, but I do not know much as so much is under the radar and they are told to be quiet.

Private contractors are still getting paid. I have seen the documents and certificates. I saw one and there were so many zeroes I could not count them all. The majority of those monies go to humanitarian projects.

We have been told that this is the week we are waiting for, and I know we keep saying that and it is and it is absolutely stressful hearing the same each week, I do not like saying the same thing each week. Please have faith it is coming.

This audio came out a few hours ago: “Pastor, pastor, it is official the Global Blackout has been made, and at this moment all is paralyzed – Nesara and Gesara are now entered. Please see CNN now…” I do not watch CNN.

Reports received 18th of July which is encouraging: 25,000 Dubai 1 debts have begun to be paid. 12 trigger (p—) funds to be paid by today or tomorrow. 10 to 12 mega file sellers will receive contracts in the next few days, Dubai 2 buyers will receive funds in the coming days for their preselected and initial files.

The New Iraqi dinar Exchange rates will FINALLY be published directly on the Forex screens on Sunday evening 21 July 2024.

NOTE: As usual – Remember all these events are subject to normal setbacks, but there are many positive signs to support these claims. We will see.

In a conference this morning they confirmed the completion of the pilot test and its full payment before the end of this week. This pilot test is a requirement of the purchasing table to start the entire process which is scheduled for the end of next week.

Today they will send us instructions that include the payment process and inspection missive to the warehouses where the material is located.

So that is what is happening at the moment. I have absolute faith this is coming. Hopefully we will get notifications for the Tier4B group any day now. It will come when you least expect it. With the blackout and things coming from different channels.

I was on a zoom call with my group and they all said this is the end of the old system and now we will be seeing the new system coming through. We will wait and see. Remain in faith. This is definitely coming.

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Fri. 19 July 2024 MarkZ: “I have some Iraqi contacts telling me that things have wrapped up. They say we could see a new rate release as early as today.”

Global Financial Crisis:

Fri. 19 July 2024 Looks like it’s all happening Australian Market Falls on Wall Street: https://www.news.com.au/finance/markets/australian-markets/market-wrap-asx200-falls-on-wall-st-retreat-china-fears/news-story/f60f93eeb1c09e930a63085fca6f3580

Fri. 19 July 2024 BRICS Reveals How it Will End the US Dollar: https://watcher.guru/news/brics-reveal-how-the-u-s-dollar-will-end

Fri. 19 July 2024 European Bank Swift System Outage. https://www.pymnts.com/news/banking/2024/european-central-bank-swift-outage-affected-real-time-gross-settlement-system/

Fri. 19 July Social Security Releases $901 Million in Underpayments: https://www.newsweek.com/social-security-releases-901-million-underpayments-1926243

Global Financial Crash: https://x.com/TraderGirlQ/status/1814320028981858726?t=5EF7Bs1vEJaQCZ8C91-IHA&s=19

After the Black Swan Event the stock market will go into turmoil known as Black Monday. The crash will cripple the dollar and silver and gold will continue to reach new highs.

Read full post here:  https://dinarchronicles.com/2024/07/20/restored-republic-via-a-gcr-update-as-of-july-20-2024/

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

Frank26  THIS IS AN RI...AS THE CBI STATES...IF IT WAS A LOP THE CBI WOULD HAVE SAID SO...AND THE IMF WOULD HAVE FORCED THEM TO SAY SO PUBLICLY!

Walkingstick  It's no secret.  The world knows about the monetary reform of the Iraqi dinar.  The international world knows about a new exchange rate that is about to come out of this.  It's no secret, everybody knows the Iraqi dinar is about to go up in value.

Frank26  If you have a 50k note and you live inside of Iraq that 50k note is going to be on a completely different exchange rate.  The exchange rate will have value.  It'll be based off the American dollar maybe 1 to 1 or more.  When it goes international in a float it's going to go up and they're going to cap it and everybody's happy...

This is What a Global Currency Transition Looks Like

Heresy Financial:  7-19-2024

https://www.youtube.com/watch?v=aEqD9YW7224

LIVE! TERMINAL DECLINE... WE ARE EXPERIENCING AN EXTINCTION LEVEL EVENT.

Greg Mannarino:  7-19-2024

https://www.youtube.com/watch?v=4ts3zuTe6EM

Seeds of Wisdom RV and Economics Updates Friday Afternoon 7-19-24

Good Afternoon Dinar Recaps,

State Street Panning Tokenized Deposits and Stablecoin – Report

Today Bloomberg reported that State Street is exploring participating in various digital currency initiatives. The bank is already an investor in Fnality, the interbank DLT payment solution backed by 20 institutions. Bloomberg cited a source saying it was exploring participating in other DLT payment consortia, as well as tokenized deposits and a stablecoin.

While the mention of tokenized deposits is no surprise, it’s the stablecoin plans that stand out. It’s highly unlikely that U.S. banking regulators would sanction the bank issuing a stablecoin. However, State Street has a significant asset management subsidiary, so that could be a different story.

State Street Global Advisors (SSGA) recently partnered with Galaxy Asset Management to launch crypto-related ETFs. Notably, Galaxy is collaborating on the AllUnity Euro stablecoin with another bank-affiliated asset manager, Deutsche Bank’s DWS.

The need for asset manager stablecoins
The settlement of tokenized assets triggers the need for a stablecoin. It’s likely SSGA may want to tokenize funds. Many of the incumbents that have launched tokenized funds on public blockchain support settlement using stablecoins, including Franklin Templeton.

ETF issuer WisdomTree, which is also a Fnality stockholder, is planning to issue its own stablecoin and recently received a trust license to do so.

If asset managers are willing to offer redemptions using stablecoins, then they ideally have to have a significant stablecoin balance. However, stablecoins don’t pay interest. On the other hand, if the asset manager has its own stablecoin, it will earn the interest on the Treasuries that back the stablecoin.

While BlackRock doesn’t have its own stablecoin, stablecoin issuer Circle has offered to buy back any BlackRock BUIDL tokens – BUIDL is the asset manager’s tokenized money market fund. BlackRock is both an investor in Circle and manages most of its reserves.

Tokenized deposit initiatives
Turning to tokenized deposits, JP Morgan has its JPM Coin and Citi has its Citi Token Services. That’s useful for multinational companies that deal with the same bank in different countries. But the interesting work is happening for payments involving more than one bank.

There are numerous initiatives, but State Street isn’t involved in the high profile ones. For example, in the U.S. there Regulated Settlement Network is starting another round of trials co-ordinated by SIFMA. Participants include JP Morgan, Citi, Wells Fargo, Visa and Mastercard. State Street’s biggest competitor, BNY Mellon, is a project contributor.

Time will tell which projects State Street plans to join.

@ Newshounds News™

Read more:  Ledger Insights 

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IS THE RUSSIAN RUBLE PEGGED TO GOLD?

Vladimir Putin’s gold strategy explains why sanctions against Russia have failed.

"In early 2022, Russia pegged its currency, the ruble, to gold, and 5,000 rubles will now buy an ounce of pure gold. The plan was to shift the currency away from a pegged value and into the gold standard itself so the ruble would become a credible gold substitute at a fixed rate."

"Since 2013, Russia has been preparing for western sanctions and managed to isolate its economy from transactions requiring American dollars. There are more than 16,000 sanctions imposed against Russia. "

"The U.K., the United States and Canada will not touch Russian gold. But others will. The United Arab Emirates (U.A.E.) imported 96.4 tonnes (US$6.2 billion) of Russian gold in 2022 following the British sanctions. That’s up 15 times from the 2021 imports of only 1.3 tonnes (US$84.5 million)."

"The other big client of Russian gold is Switzerland.

In 2022, Switzerland imported 75 tonnes of Russian gold (US$4.87 billion). In 2023, it imported about US$8.22 billion in gold from the U.A.E., which doesn’t produce its own but buys enormous sums from Russia, and US$3.92 billion from Uzbekistan, Russia’s next-door neighbor. Billions upon billions of dollars of Russian gold is being freely traded at top dollar while avoiding every one of those 16,000 sanctions."

"That’s why global sanctions against Russia haven’t derailed a thing. In order for Putin’s plan for economic resilience through gold to work, however, gold needs to increase in value. His long-term goal is that gold, not the U.S. dollar, will be the global trading currency."

@ Newshounds News™

Read more:  The Conversation

~~~~~~~~~

Fact Check: Is The Russian Ruble Already Backed By Gold?

"Russia’s central bank has resumed buying gold at a set fixed price of 5,000 rubles ($52) per gram and analysts say this could be the starting point for a shift to a new gold standard across the world."

"Meanwhile, Russia’s Ministry of Finance also referred to gold as an “ideal alternative” to the U.S. dollar.

“This is potentially a very big deal. This is basically pegging the ruble to gold,” said Joseph Brown of Heresy Financial in a YouTube video. If Russia is at the point of having enough gold to back up the ruble, “then they can price oil in gold and then accept gold or the ruble for payment,” Brown said. “They can literally take this, in just a few steps, and force the whole world into a new gold standard. Like a new Brenton Woods.”

"Russia’s fixed price for gold is reminiscent of what the U.S. did during the “gold standard” years — 1879 to 1914 — when one ounce of gold would represent $21. In the 1930s, the U.S. banned gold ownership and raised the value of the dollar in gold from $20.67 to $35 per ounce."

"In 1971, Richard Nixon put a halt on the U.S. dollar’s convertibility into gold, making it difficult for other countries to redeem dollars for gold. This marked the end of the gold standard."

"By pegging its currency to gold, Russia has effectively ratcheted up the ruble’s value against the dollar. Pegging one gram of gold to 5,000 rubles means one troy ounce of gold (32 grams) would now cost 158,183.78 rubles in Russia. At the current exchange rate, 32 grams of gold would cost roughly $1,600 in Russia instead of the $1,928 it cost outside Russia."

"“Russia’s intention would be for the value of the ruble to be linked directly to the value of gold,” Gainesville Coins precious metals expert Everett Millman told Kitco News. “Setting a fixed price for rubles per gram of gold seems to be the intention. That’s pretty important when it comes to how Russia could seek funding and manage its central bank financing outside of the US dollar system.”

@ Newshounds News™

Read more:  Moguldom 

~~~~~~~~~

EU, UK regulators launch consultations on digital asset data reporting and wallets

Tech consultation season has kicked off in Europe, with regulators from the United Kingdom and the European Union seeking feedback on digital asset-related issues.

On July 15, the European Banking Authority (EBA), an independent EU Authority in charge of prudential regulation and supervision across the European banking sector, launched a consultation on draft guidelines for digital asset issuer reporting requirements.

The same day, the U.K. Payments Systems Regulator (PSR) and Financial Conduct Authority (FCA) announced they were jointly seeking views on the benefits and risks digital wallets bring to people and businesses.

EBA guidelines on reporting requirements

The EU banking regulator is seeking feedback on draft guidelines aimed at ensuring that “competent authorities” have enough information to supervise the compliance of digital asset issuers with the Markets in Crypto Asset Regulation (MiCAR)—parts of which came into force this June, with the full provisions scheduled to kick in by the end of the year.

The landmark MiCAR provides rules for offering and admission to trading asset-referenced tokens (ARTs), e-money tokens (EMTs), and other types of digital assets, as well as rules for those providing digital asset services in the EU. It sets out a range of regulatory requirements, including authorizations, conduct, and prudential requirements for issuers and mandates for issuers of certain tokens to report “data points” to the authorities.

When MiCAR’s stablecoin rules came into force on June 30, issuers of ARTs—stablecoins that purport to maintain a stable value by referencing another value or right—and EMTs—stablecoins pegged to a fiat currency—had several new obligations, including a requirement to be authorized by the Central Bank, prudential requirements, and conduct and governance requirements around marketing, dealing with conflicts of interest, and disclosure of information.

Regarding this latter obligation, the EBA has decided that the reporting requirements placed on issuers of ARTs and EMTs were “not enough to allow competent authorities and the EBA to discharge their supervisory tasks and the significance assessment tasks under MiCAR.”

Having identified these so-called “data gaps,” the banking regulator is consulting on draft guidelines specifying common templates and instructions for issuers to provide the necessary information to fill the gaps.

In addition, the draft guidelines include common templates and instructions that issuers should use to collect the data they need from the relevant Crypto-Asset Service Providers (CASPs).

The EBA said it would accept comments on the consultation paper up to October 11, 2024.

PSR and FCA call for information on digital wallets

Meanwhile, across the pond, the FCA—the U.K.’s top finance sector watchdog—and the PSR—its independent subsidiary focused on payment systems—are seeking views on the benefits and risks of digital wallets.

Building on the PSR’s previous work on contactless mobile payments and the FCA’s work on big tech activity in financial services, this consultation aims to better understand the impact on consumers and businesses that digital wallets’ increasing popularity creates.

“The use of digital wallets has grown rapidly over the last few years, and it’s likely that more than half of UK adults now use one. With Apple Pay, Google Pay and PayPal being three of the most widely used digital wallets in the UK today” said Monday’s announcement.

The PSR said it was particularly interested in understanding how digital wallets impact consumers’ choice of payment options at checkout.

“Digital wallets are steadily becoming a go-to payment type and while this presents exciting opportunities, there might be risks too,” said David Geale, the PSR’s Managing Director.

“ We look forward to hearing views and evidence from a wide range of stakeholders throughout this process.”
The regulators hope to hear from stakeholders across the payments and wider financial services landscape, including digital wallets, technology providers, and their service users.

The call for information is open until September 13. After that, the regulators said they would analyze all responses received and provide an update by Q1 2025.

FCA Chief Executive Nikhil Rathi stated. “We want to make sure we can maximise the opportunities and benefits for consumers and businesses while protecting against any risks this technology may present.”

@ Newshounds News™ 

Read more:  CoinGeek

~~~~~~~~~

ASSET TOKENIZATION TODAY AND TOMORROW

The estimated worth of asset tokenization today is as much as $3.5 billion. And with projections that it could reach $16 trillion by 2030, the tokenization market represents a massive opportunity. So, what’s holding the technology back from fully realizing its potential? That was the question posed during the London Tokenization Policy Summit held earlier this year hosted by Ripple and the Imperial College Business School’s Centre for Financial Technology.

Tokenization Use Cases: The “Real Deal” of Digitization

With a promise to remove payment gateway intermediaries; improve payment processor efficiencies; ensure data protection, data privacy and transparency; and enable real-time settlement, tokenization is championed as the “real deal” function of blockchain technology. It's potential for significant impact across a broad range of sectors is massive.

Tokenized mortgages, consumer loans and microloans have all helped make private credit and debt the second fastest growing sector, while property purchases and treasury notes also stand to benefit. Additional tokenization use cases include enhanced capital flows for small- and medium-sized enterprises, improved efficiencies in carbon credit trading and better price discovery compared to traditional assets.

But despite tokenization’s potential as a new asset class, challenges to mainstream adoption persist. A lack of well-established Special Purpose Vehicles makes it difficult to tokenize real-world assets. Cross-chain protocols are needed to improve interoperability. Limited liquidity in secondary markets means an elevated risk on investment. And there is a clear need for providers that can simplify tokenization into a single offering to help break down silos between financial ecosystems.

To overcome these hurdles and scale tokenization, there are three key areas of emphasis: 1. collateralization, 2. valuation and 3. passkeys. Ensuring that tokens are backed by sufficient reserves, hold the same value internationally and are protected through secure passkeys and proper key management will help to foster trust and—ultimately—adoption.

A New Financial Framework
Central to the topic of tokenization is the importance of a robust regulatory framework to underpin the tokenized economy. Once in place, this framework would provide the necessary structure, safeguards and confidence needed for sustainable growth and development.

Looking Ahead
One thing is abundantly clear: tokenization is more than just a buzzword, it’s a rapidly growing movement that is poised to reshape the financial landscape.

Banks, traditional finance players and regulators are all key to furthering this adoption of tokenization.

@ Newshounds News™

Read more:  Ripple

~~~~~~~~~

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Economist’s “ News and Views” Friday 7-19-2024

Gold & Silver Prices Crash Again, While Global Tech Outage Shuts Down Airlines & More

Arcadia Economics:  7-19-2024

Gold and silver prices continued their sharp selloff on Friday morning, which follows a selloff in the stock markets this week.

And before the markets were opening, a global tech outage hit airlines and business services.

There's a lot happening this morning.

And fortunately Vince Lanci is here to break it all down and explain how it's impacting the markets.

To find out more, click to watch the video now!

https://www.youtube.com/watch?v=z20y9sEeFxc

Gold becoming legal tender Feat. Rob Kientz - LFTV Ep 182

Kinesis Money:  7-19-2024

In this week’s episode of Live from the Vault, Andrew Maguire and Rob Kientz of Gold Silver Pros discuss the changing world order, shifting market sentiments worldwide, and the transformative potential of sound money in fostering economic stability.

The precious metals experts delve into the principles of the Citizens for Sound Money movement, critically examine global Central Bank Digital Currency (CBDC) projects and issue a powerful call to action for today’s youth.

Timestamps

 00:00 Start

02:45 Rob’s involvement with Citizens for Sound Money

11:15 Central Bank Digital Currencies

21:50 Physical gold’s impact and future

29:00 What’s happening in America

38:00 The United Kingdom and the youth

 44:00 Retail and wholesale market sentiment

54:00 The dedollarisation process, war and geopolitcal change

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

BRICS Leave IMF and WTO: What are the alternatives?

Fastepo:  7-18-2024

At the upcoming BRICS summit in Kazan, one of the key topics on the agenda is the reform of international financial institutions, specifically the International Monetary Fund (IMF) and the World Trade Organization (WTO).

Russian Foreign Minister Sergey Lavrov has emphasized the importance of addressing these issues to enhance the global economic governance system and make it more inclusive and representative of emerging economies.

The BRICS nations, which include Brazil, Russia, India, China, and South Africa, are pushing for reforms that will better reflect the economic realities of the 21st century.

They argue that the current structures of the IMF and WTO disproportionately favor developed countries and do not adequately represent the interests of the Global South.

This includes calls for revising the IMF's quota system to give more weight to developing nations and for restoring the full functionality of the WTO's dispute settlement mechanism.

In this video, we explore the reasons behind the dissatisfaction with the IMF and WTO by examining cases where their policies have caused significant issues for borrowing countries.

We also discuss the solutions proposed by the Global South to address these challenges.

https://www.youtube.com/watch?v=omM52PEIgIQ

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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© 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

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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

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

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