Seeds of Wisdom RV and Economics Updates Sunday Afternoon 7-21-24

Good Afternoon Dinar Recaps,

SOUTH KOREA'S STRICT LAWS ON CRYPTO EXCHANGES COME INTO FORCE

The new regulations issued by South Korea’s watchdog to protect user assets on crypto exchanges went into effect on July 19.

The much-talked-about new regulations from South Korea’s financial security regulator, designed to protect users buying and storing crypto assets with virtual asset service providers (VASPs), came into force on July 19.

Titled the “Virtual Asset User Protection Act,” VASPs must take several steps to ensure the protection of user’s crypto, according to a July 17 statement from South Korea’s Financial Services Commission (FSC).

These include:  
1. taking out insurance against hacking and malicious attacks against the user’s crypto assets,
2.  keeping the customer’s crypto assets separate from the exchange’s assets, and
3.  a requirement to keep customer deposits “safely kept in banks.”

VASPs are also required to maintain a certain level of due diligence to prevent money laundering on their platforms and must report any suspicious transactions to the regulator.

“VASPs should maintain a surveillance system for suspicious transactions at all times and immediately report suspicious trading activities to the Financial Supervisory Service (FSS),” it stated.

“After going through investigations by the financial and investigative authorities, those who are found to have engaged in unfair trading activities may be subject to criminal punishment or penalty surcharge,” it added.

Concerns among South Korean crypto exchanges
Crypto exchanges in South Korea have recently voiced concerns that the rules would result in them simultaneously delisting a mass of tokens.

On July 3, Cointelegraph reported that a group of 20 South Korean crypto exchanges will review a total of 1,333 cryptocurrencies over the next six months as part of the new crypto user protection laws, meaning “the possibility of mass delisting occurring all at once is unlikely,” according to the Digital Asset Exchange Alliance (DAXA).

Meanwhile, South Korea’s ruling party, the People’s Power Party, officially proposed delaying the implementation of the country’s tax on crypto trading profits.

On July 12, the party submitted the proposal and noted that current sentiment toward crypto assets was deteriorating. The description stated that rapidly imposing taxes on virtual assets is “not advisable at this time.”

@ Newshounds News™

Read more:  Crypto Telegraph

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CDP  ISSUES DIGITAL BOND ON POLYGON BLOCKCHAIN USING NEW ITALIAN LAW 

Italy’s Cassa Depositi e Prestiti Spa (CDP) issued a €25 million digital bond on the Polygon public blockchain, which was underwritten by Intesa Sanpaolo as the sole investor. 

The issuance is part of the European Central Bank’s (ECB’s) wholesale DLT settlement trials. 

Hence, the payment was made in central bank money using the Bank of Italy’s TIPS Hash Link solution, which provides connectivity between a DLT and the TARGET2 system for wholesale payments.

CDP is a development bank majority owned by the Ministry of Economy and Finance.

The settlement of a public blockchain bond issuance with central bank money wasn’t the only novel aspect of the digital bond. It is also the first to use Italy’s ‘Fintech decree’ law. 

This was Italy’s enactment of the DLT Pilot Regime, but also applies to DLT issuances that are not part of the Pilot Regime (like this one), provided they take some extra steps.

There must be a Digital Register maintained by a Digital Register Manager which is authorized by Consob, Italy’s securities regulator. The Register is a log of the real names and details of the owners of the securities.

“This transaction represents a significant step for CDP in capital market innovation through the pioneering adoption of blockchain technology for bond issues,” said Fabio Massoli, CDP’s Director of Administration, Finance, Control and Sustainability.

“The promotion of a new market ecosystem and the implementation of an innovative, efficient and secure market infrastructure will provide added value to issuers and investors alike, opening up new opportunities for other players, including SMEs.”

Fintech Decree Digital Registers
The Digital Register is similar to Germany’s eWpG law. In both cases they support direct securities issuances and transactions without requiring central securities depositories (CSDs) or bank intermediaries. However, we believe Italy may have gone a step further because it allows issuers to be the Digital Register Manager for their own securities. 

That’s the case here – CDP had the role of the Market DLT Operator and also the Consob authorized Digital Register Manager. But we believe this also applies where the issuer/manager is not a bank.

“We are particularly pleased to have been the first in Italy, together with CDP, to carry out an operation that is intended to be the point of reference for future issuers in a totally new legal and regulatory framework,” said Massimo Mocio, Deputy Chief and Head of Global Banking & Markets, IMI CIB Division of Intesa Sanpaolo.

A key goal of the ECB wholesale settlement trials is to test the interoperability between DLT networks and central bank money, both conventional and CBDC. Hence, the transactions involve delivery versus payment in most cases. However, CDP said the settlement for its digital bond was ‘same day’.

Meanwhile, the digital bond has a four month term. It was rated A-2 by S&P, F-2 by Fitch and S-2 by Scope.

@ Newshounds News™

Read more:  Ledger Insights

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Silver (XAG) Forecast: Gold Divergence Widens; Is Silver Undervalued or Overextended?

Key Points:
—Silver prices struggle as gold reaches new heights. The widening gold-silver ratio suggests potential undervaluation of the white metal or gold overvaluation.

—Silver's break below the 50-day moving average at $30.19 signals a technical breakdown. Sellers target $28.57, with further decline possible to $27.22-$26.60 zone.

—Weak Chinese manufacturing data raises concerns about silver's industrial demand. This aspect contributes to silver's underperformance compared to gold.

—Fed rate cut expectations drive precious metals. A 98% probability of a September cut may create a buy the rumor, sell the fact scenario for silver and gold.

—Asian physical demand for silver remains sluggish. Customers capitalize on high prices by selling existing holdings rather than making new purchases.

@ Newshounds News™

Read more:  FX Empire

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NIGERIA EMBRACES BLOCKCHAIN NATIONAL INFRASTRUCTURE INITIATIVE GAINS MOMENTUM  
Government Pushes for Data Security and Privacy

The Nigerian Federal Government’s initiative to develop an indigenous blockchain infrastructure has garnered substantial support from the National Blockchain Policy Implementation Steering Committee. Two weeks prior, the government revealed its plans to establish a homegrown blockchain, emphasizing the importance of data security and privacy in this endeavor.

Endorsement from Key Stakeholders
Chimezie Chuta, Chairman of the Committee, expressed strong approval of the initiative during a discussion with The PUNCH. He regarded the concept of a national blockchain infrastructure as a significant and positive step forward. 

Chuta highlighted that other countries, including India, China, the UAE, South Korea, and Singapore, have already established their blockchain infrastructures, suggesting that Africa’s third-largest economy should not lag behind.

Comparative Analysis and Future Prospects
In comparing Nigeria’s blockchain aspirations to those of other nations, Chuta underscored the potential for significant advancements in data security, economic efficiency, and technological innovation. By establishing a national blockchain, Nigeria aims to join the ranks of countries that have successfully integrated this technology into their national frameworks.

Broader Implications for the Nigerian Economy
The push for a national blockchain infrastructure is a move that could bring benefits to the Nigerian economy. The implementation of such technology promises to streamline various sectors, improve transparency, and foster a more secure and efficient data management system. This could potentially attract foreign investment and bolster confidence in Nigeria’s technological capabilities.

Moreover, the development of a national blockchain could provide a platform for various industries to innovate and collaborate more effectively. By supporting smart contracts and offering a scalable and efficient infrastructure, the blockchain could facilitate new business models and drive economic growth.

Addressing Regulatory and Compliance Challenges
A consortium-based blockchain model, as advocated by Chuta, would also address regulatory and compliance challenges more effectively. By involving multiple stakeholders in governance, this model ensures that the blockchain operates within a framework that supports regulatory oversight and compliance, thereby enhancing its credibility and reliability.

Conclusion: A Strategic Move Towards Technological Advancement
The Nigerian government’s initiative to establish a national blockchain infrastructure represents a strategic move towards embracing advanced technology for national development. With strong backing from key stakeholders and the potential for significant economic and technological benefits, this initiative is poised to position Nigeria as a leader in blockchain technology within Africa and beyond.

As the country moves forward with this ambitious project, the focus will be on ensuring that the infrastructure is robust, secure, and capable of meeting the demands of a modern digital economy.

@ Newshounds News™

Read more:  Coin Trust

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PHYSICAL CARDS: The Unexpected Frontier in Digital Security

Dr. Adam Lowe, chief product and innovation officer at CompoSecure, hears it all the time from banking executives when the topic is securing payments: “We cannot introduce friction.” But the balancing act is a tough one. Challenge a user too much and they’ll switch to a competitor. Challenge them too little, and the customer’s financial injury may be calamitous.

In this age of digital attacks and global hacks, banks, FinTechs and platforms face a dilemma. One need only look at the size and scope of the AT&T breach to see that hackers have been able to access, co-opt and use all manner of data to power their scams, and perhaps, cobble together synthetic identities. SMS texts are not as secure as they once were, given the fact that imposters can be the ones behind the SMS missive that seeks user confirmation to complete a transaction.

Among the best lines of defense and security, he said, is something that just about everyone has in their possession: a tangible, physical card. And the card, he said, ticks all the boxes of a robust and usable form of identity protection, as the technology has proven simple enough that even his mother feels comfortable using it, and as tap-to-pay has become a feature ingrained in daily financial life.

CompoSecure’s digital security platform, Arculus, streamlines digital authentication processes and secures digital assets, underpinned by the blockchain. CompoSecure, he said as part of the “What’s Next in Payments” halftime report, “essentially invented the metal card,” and now, with the digital Arculus platform, has extended the capabilities of a payment card.

“We’re seeing more customers rolling out our Arculus technology,” he said, “whether it be the wallet technology, and having digital assets alongside a payment card … or whether it’s the authenticate technology, which is for more traditional banks and for FinTechs.”

A Pocket-Sized Cryptography Engine
With enhanced digital security features, he said, the card “essentially becomes a cryptography engine in your pocket.”

The chip that’s embedded in the card, he said, serves as that aforementioned engine. To enhance the digital experience, he said, the company debuted the Arculus Cold Storage Wallet, which is the digital asset hardware wallet, which puts “keys” on the card for any user to store and use those keys for security to support and pay with crypto assets.

In addition, leveraging similar key technology, Arculus Authenticate allows users to tap their cards to authenticate themselves via a passkey that’s stored on those cards. These cards with Arculus Authenticate can also accept payments, so consumers can login, sign and approve payments.

“Instead of being synched to the cloud,” he said, of the data, “where it can be ‘ripped’ out of the cloud by bad actors, your passkeys are safe in your pocket the same way your keys to the front door of your house are safe in your pocket.”

And, he added, “whether it’s signing Visa transactions, or MasterCard, FIDO 2, or whether it’s signing Bitcoin and Ethereum transactions, that cryptography engine is happy … we can serve whatever market segment needs to be served by design, and we can make it all interoperable.”

That interoperability, he said, is a bit like bridging all the railroads back in the 1890s, as a range of different track gauges knit together to make everything work, east to west and vice versa. In this case, the various parties in a transaction using zero trust architecture standards as transactions move along various conduits. 

According to the U.S. Department of Commerce, zero trust architecture is the term for “an evolving set of cybersecurity paradigms that move defenses from static, network-based perimeters to focus on users, assets and resources.” It assumes no implicit trust based on physical or network location.

@ Newshounds News™

Read more:  PYMNTS

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Economist’s “News and Views” Sunday 7-21-2024

Financial System "Revamp" Is Coming | Kerry Lutz

Liberty and Finance:  7-20-2024

Kerry Lutz joins Dunagun Kaiser to discuss the evolution of the financial system and the impact of media on financial discourse. They reflect on how podcasting and independent media have transformed financial discussions compared to a decade ago.

The conversation critiques mainstream media's homogenization and its effect on public understanding of economic issues.

 Lutz also explores recent economic crises and the role of new technologies. He offers a forward-looking perspective on how emerging trends could reshape the financial landscape.

INTERVIEW TIMELINE:

 0:00 Intro

1:30 LibertyAndFinance & Kerry Lutz

7:00 Financial Survival Network

 18:40 The future financial landscape

https://www.youtube.com/watch?v=2UHmqPPJmmU

De-Dollarization Alarms the U.S. Economy: Will BRICS Adopt a New Currency?

Wealth Insights:  7-20-2024

Russia and China have drastically reduced their reliance on the US dollar, with over 90% of their trade now conducted in rubles and yuan. This shift is part of a broader de-dollarization strategy to decrease dependency on the US-led financial system.

Chinese banks in Russia have stopped processing dollar and euro settlements, making the yuan the most traded currency on the Moscow Exchange.

This move aligns with BRICS nations' efforts to establish a new currency to rival the US dollar. Join us as we explore the implications of this significant economic shift.

https://www.youtube.com/watch?v=-p24VY4BXyk

"All HELL BREAKS LOOSE" (In the Next Few Months) says FED Insider, Danielle DiMartino Booth

Sachs Realty:  7-20-2024

Everyone's getting fired across all industries, says Danielle. U.S. recession is here and the housing market is crashing.

https://www.youtube.com/watch?v=EMJpSo-AXDI

“Tidbits From TNT” Sunday 7-21-2024

TNT:

Tishwash:  Angry protesters compare salaries to presidencies, threaten sit-in in Baghdad

Hundreds of employees of Iraqi state departments and institutions demonstrated today, Saturday, in front of the fortified Green Zone in central Baghdad, demanding an amendment to the salary scale.              

Employee Wissam Ahmed told Shafak News Agency, "We went out today to demand that the government and parliament amend the salary scale and address the differences in classes for state employees."       

He added, "There is inequality and injustice in employees' salaries," indicating that "an employee in the Council of Ministers, Parliament, and the three presidencies receives a salary of 3 million dinars per month, while someone of the same rank in another ministry receives only 500,000 dinars."                    

For his part, the employee in the Ministry of Education, Ahmed Munim, said in an interview with Shafaq News Agency, "The demonstration is not the first, and it will not be the last for all employees to demand the establishment of a new salary scale based on justice and fairness, in which the amendment of risk allowances is also taken into account," adding that "the demonstration committee met a month ago with Prime Minister Mohammed Shia al-Sudani to amend the salary scale without reaching a solution."                                                    

Munim continued, saying, "The demonstration will turn into a comprehensive sit-in if our demands are not met."

Earlier today, Iraqi parliament member Raed Al-Maliki held the Council of Ministers responsible for not amending the salary scale for employees and workers in the public sector, renewing his demand for the federal government to send the Federal Civil Service Council Law for the purpose of legislating it.

Al-Maliki said in a joint press conference held with a number of his colleagues and members of the House of Representatives, "There is another legal path related to the salary scale, which is done through amending the Federal Civil Service Law or legislating a new Civil Service Law."

He explained that "we had in the Iraqi parliament a draft federal civil service law that combines four laws, including the salary scale law," stressing that "the Council of Ministers withdrew this service law, and it was not returned to parliament again despite repeated demands from the representatives." 

Al-Maliki pointed out that "the issue of amending the salary scale law is not with the House of Representatives and the delay is not from it, but the entire issue is with the Iraqi government because it has a financial aspect," stressing the parliament's readiness to amend the salary scale if the Council of Ministers sends the Federal Service Law at any time. link

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Tishwash:  Electronic payment products meet the needs of citizens

A responsible source in the global smart card company “Ki” described the current electronic payment products as “acceptable”, but the Iraqi market needs more in a way that makes the citizen’s life easier.

He said: The company realizes the extent of the Iraqi market's need for advanced financial services, especially after Iraqi society opened up to the world and it became easy to communicate and learn about global experiences.

He added that the support of the government and the Central Bank of Iraq represents an incentive to expand the range of products offered to a wide segment of Iraqi society, especially since interaction with electronic payment continues.

He pointed out that being present in all places and providing services to citizens in a manner that suits their needs represents a lofty goal for the company’s management and its work team.  link

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Tishwash:  Parliamentary Committee Calls for Substantial Amendments to Investment Law to Attract Foreign Investments

 The Iraqi Parliamentary Committee on Economy and Development called on the Iraqi government to make amendments to 12 paragraphs of the current investment law, with the aim of improving the investment environment and attracting foreign investments to the country.

The committee chairman, Hassan Al-Khafaji, explained that the committee discussed with the relevant parties, including university deans and the National Investment Commission, ways to improve the Iraqi investment law.

l-Khafaji stated that the committee was able to obtain the government’s approval to amend 4 out of 12 articles that were proposed, but he considered that the amendments that were approved “are still below the required level.”

Among the most important points discussed by the committee was one related to investment opportunities that investors obtain. Al-Khafaji pointed out that some unsound companies exploit these opportunities, which leads to the flight of capital and the disruption of projects.

Al-Khafaji stressed that the committee is striving to change this paragraph of the law, to ensure that serious investors have real opportunities to invest in Iraq.

In addition to the amendments to the investment law, the committee also discussed several other economic laws, including laws to combat price increases and open new cities.

These efforts by the committee come within the framework of its efforts to improve the Iraqi economy and attract foreign investments, which will create new job opportunities and improve the standard of living of citizens.  link

Mot: Soooooo Thoughtful!!! -- siigghhhhhh

News, Rumors and Opinions Sunday AM 7-21-2024

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 Sun. 21 July 2024

Compiled Sun. 21 July 2024 12:01 am EST by Judy Byington

Global Currency Reset:  (Opinions/Rumors)

Sat. 20 July 2024 Banker: “Unfortunately there is very little intel flowing down from above for the banker but I did get a suggested current valuation in country was $3.60 to $4.00.  Hopefully I will have more very soon. GOD Bless.”

Fri. 19 July 2024 Wolverine: New Dinar Rate published Sun. night. Tier4b notification Mon. 22 July. The Pretorious Group has started in Brazil. Pentecostal Group is quiet. Private contractors are still getting paid.  NESARA and GESARA are now entered. The New Iraqi dinar Exchange rates will FINALLY be published directly on the Forex screens on Sunday evening 21 July 2024.

Fri. 19 July 2024 Bruce: As for our start, our source tells us is that we should get notified and prepared for exchanges on Sat. 20 July or Mon. 22 July. 

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.”

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Global Financial Crisis:

Sat. 20 July 2024 Apple and Walmart banking partner, Green Dot Bank (GDOT) fined $44 million by the Federal Reserve | Fortune https://fortune.com/2024/07/19/apple-and-walmart-banking-partner-green-dot-fined-44-million-by-the-federal-reserve/

Sat. 20 July 2024: Breaking News! Alerts! Military Operation: Germany, Bavaria EBS just Now… Planes and Trains Grounded – Lights Off – The Castle Rock Scenario and Quantum Systems: Project Odin Switched On – Stock Market Crash and Global Martial Law! – amg-news.com – American Media Group

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EO13818 CAPTURED: (JFK Jr.) on Telegram Sat. 20 July 2024  (RUMORS/Conjecture)

White Hats own Blackrock. Blackrock owns Crowdstrike. Crowdstrike took down Internet = White Hats Orchestrated the Outage.

EO13818 captured Blackrock, Vanguard, State Street, JPMORGAN and ALL Central Banks.

First White Hat took over The Fed, Then Twitter 1.0, Then Blackrock, Vanguard, State Street and more.

Then we used Blackrock to shove over the top ESG down everyone’s throats to awaken them.

Then we used the Aladdin AI system created by Blackrock to gather evidence on all illegal banking and investment transactions and methodically crash the FIAT economy/currency

The Fed slowly increasing rates drove up inflation aiding the controlled economy crash.

BRICS+ is the partnership “we” have with global leaders to support the takedown of global Deep State.

We used The Great Reset playbook against them by accelerating the plan.

The reset will happen, but it’s controlled by us.

The Black Swan Event: cyber outages across the World.

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.

X-Files: “It will probably start on a Friday. Banks will be offline all weekend. DIGITAL MONEY WILL DISAPPEAR.

ISO20022 tokens like XRP & XLM are part of the new system along with silver & gold. Get ready for the switch to be made! It could have been made during this mornings cyber outtages. Everything we know is about to change.

Read full post here:  https://dinarchronicles.com/2024/07/21/restored-republic-via-a-gcr-update-as-of-july-21-2024/

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

Frank26   [Iraq boots-on-the-ground report]  FIREFLY:
We're hearing this man on Chanel one on the TV he's saying to us citizens, he's saying joining the WTO will eventually lead to the rising of the dinar value up.  It's all about global trade...In order to compete we will need a real effective exchange rate to produce anything in the global trading market.  FRANK:  He's right...It's amazing they are talking to you about the real effective exchange rate...because that is the end result of the float...God willing it comes out at $3.22 as an RI.

MarkZ & Militia Man   MarkZ:  ...this week there are television ads being run in Iraq about the “delete the zero” project? And they are doing this internationally - I think that is important. Many people left Iraq during the wars and have settled elsewhere in the region. So doing those ads internationally are for those citizens. IOO that is huge   Militia Man:   Obviously Iraq is trying to reach out to the people and share with them some education about how the “delete the zeros” works...I have a translator who reads and writes Arabic fluently…and they say this ad is the real deal… Part of a campaign of awareness and released in several countries...Like Al Alaq said in July of last year.  The project to delete the zeros still exists...the emphasis is that it’s all positive and they are going to do something with their currency. 

Iraq's PM Reveals Iraq's Future- BRICS vs US Gold Reserves -

Edu Matrix:  7-21-2024

Iraq's Prime Minister talks about investment and housing in Iraq- BRICS vs US Gold Reserves - Should the US be worried? Don't think so!

https://www.youtube.com/watch?v=fBQ7m_FVQpg

Ignore This At Your OWN RISK (FINANCIAL CRISIS AHEAD!)

Lynette Zang:  7-20-2024

In today's video we are talking about the longest inverted yield curve for bonds, why this is happening and what that really means for you...

https://www.youtube.com/watch?v=o-yAT6XI6DU

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/

~~~~~~~~~

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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Thank you Dinar Recaps

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.

~~~~~~~~~~~~~

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/

***********

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

***********

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

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

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.

~~~~~~~~~~~~~~

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/

***********

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 

~~~~~~~~~

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

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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

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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

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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