How Zimbabwe is Leading Africa into a Gold-Backed Currency Reset

How Zimbabwe is Leading Africa into a Gold-Backed Currency Reset

On July 26, 2024 By Awake-In-3D

Zimbabwe’s now-official ZWG (aka the ZiG) currency is setting a new standard for stability and exchange rate value.

As African nations increasingly turn to gold to hedge against economic instability, Zimbabwe is leading the continent into a gold-backed currency future.

The Reserve Bank of Zimbabwe (RBZ) recently announced the certification of the Zimbabwe Gold (ZiG) with an international currency code (ZWG) by the World Bank, giving it a distinct identity among other nations’ official currencies.

The ZiG is a revolutionary currency backed by precious metals, mainly gold, and foreign currency with a cumulative value of about US$300 million.

ONE ZiG (ZWG) IS WORTH $13.44 USD TODAY!

Currently, there are ZiG1, ZiG2, ZiG5, ZiG10, and ZiG20 notes in circulation, with plans to introduce ZiG50, ZiG100, and ZiG200 notes in the near future. Minor units of the ZiG are known as cents, reflecting a familiar structure for ease of transactions.

Since its introduction at a rate of ZiG13.66 to the US dollar, the currency has shown remarkable stability, currently trading at ZiG13.44. There are about US$80 million worth of ZiG in circulation.

This stability is a stark contrast to the volatility that plagued previous iterations of the Zimbabwean dollar for the past several decades.

In This Article

1. Zimbabwe’s Gold-Backed Currency Initiative

2. Other African Nations Following Suit

3. Economic Implications for the Continent

4. The IMF’s Positive Perspective on Gold-Backed Currencies

Zimbabwe has emerged as a pioneer in a significant shift towards gold-backed currencies across the African continent.

As economic instability and currency depreciation arise, African nations increasingly look to gold to safeguard their financial futures.

Zimbabwe’s Gold-Backed Currency Initiative

Zimbabwe’s introduction of the Zimbabwe Gold (ZiG) currency marks a groundbreaking move in Africa’s economic landscape.

The new currency, backed primarily by gold and other forex reserves, replaces the beleaguered Zimbabwean dollar. Since its launch in April, the ZiG has aimed to stabilize the nation’s economy and restore confidence in its financial system.

David Mnangagwa, Zimbabwe’s Deputy Minister of Finance, Economic Development, and Investment Promotion, emphasized the importance of controlled money supply to maintain the currency’s value. This approach addresses past issues of hyperinflation and rapid devaluation.

ALSO READ: Zimbabwe’s New Gold-Backed ZiG Currency: A Record Financial Turnaround

The government’s strategy to “drip-feed” the ZWG into the market is designed to preserve the currency’s value, ensuring long-term stability and economic growth.

The International Monetary Fund (IMF) has also recognized the positive strides made by Zimbabwe. According to an IMF review, Zimbabwe’s economy is showing resilience, with growth expected to recover strongly in 2025.

The introduction of the ZiG has played a pivotal role in ending a period of macroeconomic instability, and the IMF commends Zimbabwe’s improved monetary policy discipline and efforts to stabilize the new currency.

Other African Nations Following Suit

Inspired by Zimbabwe’s initiative, several African countries are taking similar steps to secure their economic stability through gold-backed currencies.

Nigeria, Uganda, Tanzania, and Madagascar have all announced plans to bolster their gold reserves and, in some cases, back their currencies with gold.

Nigeria’s central bank has initiated a domestic gold-buying program and plans to repatriate its existing gold reserves. This move aims to mitigate risks associated with the weakening U.S. economy and the volatility of the U.S. dollar.

Similarly, Uganda and Tanzania have launched gold acquisition strategies to strengthen their financial reserves and reduce dependency on foreign currencies.

Tanzania announced a significant investment of $400 million to purchase six tons of gold, reflecting a strong commitment to securing its economic future.

ALSO READ: The Gold-backed Zimbabwe ZiG and Our RV/GCR – What You Need to Know

Uganda’s central bank introduced a domestic gold-buying program to purchase gold directly from local artisanal miners, aiming to address risks in the international financial markets.

Economic Implications for the African Continent

The shift towards gold-backed currencies represents a significant financial development for African economies.

By leveraging gold, countries aim to protect themselves against geopolitical risks and currency depreciation. This strategy also addresses the concerns over America’s economic policies and the potential weaponization of the U.S. dollar.

Analysts highlight that adding gold to national reserves allows countries to grow their reserve assets without sacrificing other hard-currency reserves. This approach is particularly pertinent for nations facing economic sanctions or anticipating a decline in the U.S. dollar’s value.

The strategic accumulation of gold reserves can bolster economic resilience and foster long-term stability across the continent.

The IMF’s Positive Perspective on Gold-Backed Currencies

The global financial community is closely monitoring Africa’s transition to gold-backed currencies.

Experts from institutions like the IMF recognize the potential benefits but also caution about the challenges. Sustained economic stability and disciplined monetary policies are crucial for the success of these initiatives.

The IMF’s positive assessment of Zimbabwe’s economic policies is a testament to the potential success of gold-backed currencies. The institution’s recommendations for further refinements to the policy framework highlight the importance of continuous improvement and adaptation. Zimbabwe’s pioneering move sets a precedent, encouraging other African nations to consider similar measures.

ALSO READ: Zimbabwe to Establish New Gold-Backed Currency Exchange Rate Value

The Bottom Line

Zimbabwe’s bold step towards a gold-backed currency is reshaping the financial landscape in Africa.

As more nations follow suit, the continent is positioning itself to mitigate economic risks and enhance financial stability. This trend underscores a broader move towards leveraging gold as a safeguard against global economic uncertainties, potentially setting a new standard for currency stability in the 21st century.

With the positive momentum from IMF reviews and the collective efforts of African nations, the future looks promising for a continent embracing economic resilience through gold.

Contributing Articles: 

• https://www.moneymetals.com/news/2024/07/25/african-countries-are-turning-to-gold-003338

• https://www.newsday.co.zw/business/article/200029032/minister-confirms-structure-to-drip-feed-zwg-into-economy

• https://www.imf.org/en/News/Articles/2024/06/27/pr-24248-zimbabwe-imf-staff-completes-2024-article-iv-mission

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https://ai3d.blog/how-zimbabwe-is-leading-africa-into-a-gold-backed-currency-reset/

News, Rumors and Opinions Saturday AM 7-27-2024

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. 27 July 2024

Compiled Sat. 27 July 2024 12:01 am EST by Judy Byington

Possible Timing:

Tues. 23 July 2024 The Re-inhabited Republic for These United States of America was funded out of funds of the Global Currency Reset.

Global Currency Reset:  Rumors/Opinions

Fri. 26 July 2024: Six planes (allegedly) loaded with owners of Trust Accounts took off from Washington DC on Thurs. headed to Reno Nevada. Another Trust Account Holder flew into Reno from Zurich.

Thurs. 25 July 2024 Wolverine: “The gates are (allegedly) opened! Certain platforms have been released, at least 4 to 5 of them in Brazil. Venezuela has released their own. Next week a (allegedly) huge platform will be released as well. Also hearing Asia to be released, now with liquid funds. Precatorious are pure liquid now and is releasing funds to the members. Bondholders are getting paid, and more people are getting notified.”

Thurs. 25 July 2024 Ginger’s Liberty Lounge: “A dear friend who is connected with plans in Zurich was just informed that they acquired a new Paymaster and to watch for their invitation email (for their group) later today.”

On Tues. 23 July 2024 the Re-inhabited Republic for These United States of America was(allegedly)  funded.

Fri. 26 July BRICS Officially Announces New Financial System: https://watcher.guru/news/brics-officially-announces-financial-system-similar-to-swift

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Global Financial Crisis:

FORD SHARES JUST HAD THE WORST DAY SINCE THE 2008/2009 FINANCIAL CRISIS CLOSING DOWN OVER 18%: https://x.com/gurgavin/status/1816567735738073218?s=46

BRICS Central Bank Hits 1Trillion in losses – what it means for the US Dollar: https://watcher.guru/news/brics-us-central-bank-hits-1t-in-losses-what-it-means-for-the-dollar

~~~~~~~~~~

NESARA/ GESARA, Ben Fulford:

The NESARA / GESARA implements 20 fundamental changes / reforms to free humanity from the Cabal bankers and the controlled puppets, the Deep State Governments, study these 20 exciting here!!

NB. Not surprisingly, much disinformation about NESARA / GESARA can be found on the internet. Wikipedia’s article is total disinformation.

Dr. Harvey Francis Barnard’s NESARA bill—National Economic Stabilization and Recovery Act was rejected by congress in the 1990s.

Dr. Barnard was a systems philosopher and had tried for years to interest Congress in his monetary reform suggestions.

Read full post here:  https://dinarchronicles.com/2024/07/27/restored-republic-via-a-gcr-update-as-of-july-27-2024/

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

Jeff   The budget...they're going to finish it probably just shortly before Iraq's accession to the World Trade which will be the weekend of August 17th and 18th.   That accession period is the nucleus to everything right now.  Everything is happening around that accession date.

SkyWalker   Remember in 2003 when the old Swiss dinars were being exchanged for the new and current Iraqi dinar. The U.S. Army transported and distributed the currency throughout Iraq. The outgoing Swiss currency did not have three zeros. The new Iraqi dinar had three extra zeros because it lost value.  Because Iraq was post invasion and the nation had no industries or other methods to sustain its economies. That is why the dollar was brought into Iraq by the U.S. government as a means to keep the Iraqi economy alive. Now, the situation has changed and through monetary policies the nation can justify restoring the value of the Iraqi dinar. Inflationary zeros were added to the notes back in 2003 by the U.S. government that paid for the printing of the Iraqi dinar. Now, the inflationary zeros will be removed because the government has met the requirements of the CBI.

'We Did It—Congratulations': David Schweikert Decries US Reaching $35 Trillion In National Debt

Forbes News:  7-26-2024

In a fiery speech on the House floor, Rep. David Schweikert (R-AZ) denounced the level of government spending, and lamented the massive amount of national debt the US has accrued.

https://www.youtube.com/watch?v=z7lOcJqZEl4

There Is A Storm Brewing In Our Financial System

Lynette Zang:  7-26-2024

Today we are joined by one of my dearest friends George Gammon! We discuss a wide range of topics from monetary policy to the unrealized losses from the banks and what this all means for you and your money...

https://www.youtube.com/watch?v=jEjkbggCrF8

“Tidbits From TNT” Saturday Morning 7-27-2024

TNT:

Tishwash:  Expanding the electronic payment base is an important financial transfer

The global smart card company “Ki” described the expansion of the electronic payment base in the country as moving to an important stage in financial transactions.

A responsible source in the company said that the development in the field of electronic payment and the acceptance of this form of transactions by a wide segment of society came as a result of what the citizen saw as a safe, advanced and fast service that saves time and effort in many transactions.

The source added that the directives of the government and the Central Bank of Iraq to support electronic payment have yielded positive results that contribute to the development of the national financial sector.

He pointed out that the company is working hard to create new products that are world-class and in harmony with the needs of the citizen. link

Tishwash:  Due to the extreme heat, tomorrow Iran will close all government centers and banks

Iran's state media council has announced that all government offices and banks will be closed tomorrow, Sunday, due to the extreme heat, according to the Fars news agency. "Due to the continued extreme and unprecedented temperatures and in order to protect the health of citizens and rationalize energy consumption, all government offices, centers and banks across Iran (except for emergency and relief services centers) will be closed tomorrow, Sunday," the secretariat of the state media council said in a statement issued on Friday.

"Official working hours in all government offices and banks across the country (except for emergency and relief services centers) have been set from 6 to 10 a.m. on Saturday," the statement added. "Remote work is also allowed for employees who are unable to come to work due to their health conditions," the statement added.

The capital, Tehran, witnessed its hottest day since Wednesday afternoon, with a temperature of 43 degrees in the city of Varamin. Temperatures will continue to rise this week and next, with temperatures expected to reach 50 degrees Celsius in most parts of the country over the next five days, according to Iran International.  link

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Tishwash:  Al-Sudani pressures factions to calm escalation against Americans, seeks Tehran's support

Iraqi Prime Minister Mohammed Shia al-Sudani seeks to exert pressure on the armed factions loyal to Iran to stop their escalation against American interests and targets in Iraq, according to informed sources. 

The sources told Shafaq News Agency, "Al-Sudani has been working for days to pressure the armed factions to stop the escalation operations against the Americans after the bombing of Ain al-Assad base, for fear of American reactions that may escalate the security situation and confuse it inside Iraq."

The sources added, "Al-Sudani communicated with Iranian figures in order for Tehran to pressure those factions to stop escalating their operations against the Americans and give him a new opportunity to end the American presence in Iraq through dialogue and negotiation, but so far the factions reject the pressures of Al-Sudani and those close to him."

On Friday, a spokesman for the US Department of Defense confirmed that an attack had occurred on the area near the Ain al-Asad air base in Iraq, without resulting in any injuries among US military personnel.

A security source reported, on Thursday evening, that the base was targeted by at least two missiles. link

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Tishwash:  The Iraqi Embassy opens up prospects for cooperation with Egyptian businessmen and investors to work in Iraq

The Iraqi embassy in the Egyptian capital, Cairo, discussed, today, Friday, with investors and businessmen of major Egyptian companies, opening up prospects for joint cooperation.

The Iraqi Ambassador to Cairo, Qahtaan Al-Janabi, told the Iraqi News Agency: "The meeting addressed many files, the most important of which is the fruitful cooperation between the two countries in all fields," noting that "the presence of major Egyptian companies specialized in energy, pharmaceutical industries, and transportation is important to transfer Egyptian experiences to the Iraqi market."

He added that "the investors' problems were listened to and how to work on solving their problems and working to overcome the obstacles that hinder their work and travel and providing all facilities with the aim of transferring their expertise to Iraq, especially since the number of companies is increasing day by day," indicating that Prime Minister Mohammed Shia al-Sudani, during his meeting with senior businessmen, praised their role in building the Iraqi infrastructure by implementing many projects such as bridges and others.

He pointed out that "Egyptian companies are very willing to open up prospects for joint cooperation and investment in Iraq, with the aim of achieving stability and economic growth and transferring Egyptian experiences and expertise to the Iraqi market and achieving sustainable development and providing job opportunities and diversifying sources of income in the country and advancing the economic and social future of Iraq."

In turn, the investors expressed "their happiness in increasing the volume of trade and economic exchange in Iraq, especially after the stability of the security situation, which has become attractive for the presence of Egyptian companies in Iraq, and transferring Egyptian experiences in development projects in many fields such as energy, housing, roads, agriculture and medicine, with the aim of transferring the Egyptian experience to the Iraqi market."

Former Minister of Transport Hani Dahi, Chairman of the Board of Directors of the Nile Valley Company, explained to the Iraqi News Agency (INA) that "the security climate in Iraq is very encouraging for the presence of Egyptian companies in large numbers, especially since Iraq has become a safe and attractive environment for investment in all agricultural and industrial sectors. It is very important to transfer the Egyptian experience in all Iraqi governorates at the level of bridges, roads and electricity, especially since Egypt has great experiences in construction and reconstruction in light of a series of projects that it has implemented over the past ten years."   link

Mot:  .. FINALLY !!!! --- Vindication!!!! - When ur Hot Ur Hot

Mot: .... Hear Ye!! -- Hear Ye!!!

Economist’s “News and Views” Friday 7-26-2024

INCOMING CRISIS: When Banks, Gov Debt, and BRICS Collide

Taylor Kenny: 7-25-2024

In this urgent and riveting expose, financial expert Taylor Kenney uncovers the hidden economic threats that the government and mainstream media have ignored for years.

As U.S. debt skyrockets and geopolitical tensions escalate, Taylor reveals why savvy investors are moving their assets out of the traditional financial system.

CHAPTERS:

01:17 Current National Debt

03:51 Global Sanctions

 05:46 Billions of Unrealized Losses

08:08 The Hard Truth

10:35 True Store Of Value

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

Markets Would Be A "Smoldering Ruin" If Manipulation Ended | Ed Steer

Liberty and Finance:  7-25-2024

In these tumultuous times marked by political upheaval and economic uncertainty, understanding the true dynamics of the stock market and financial systems is crucial.

Ed Steer offers insightful analysis, highlighting structural imbalances and the pervasive intervention in markets that distort reality. He emphasizes a cautious approach, advocating ownership of tangible assets amid a landscape where market interventions maintain an illusion of stability.

For those seeking clarity amidst the complexities of today's economy, Ed Steer provides indispensable insights through meticulous tracking of market data and trends.

NTERVIEW TIMELINE:

0:00 Intro

1:20 Gold & silver manipulation

5:25 Physical deliveries

10:00 Chinese gold buying

14:43 Fiat currency failure

19:30 Physical precious metals

22:31 Owning physical metals

28:00 If markets weren't manipulated

https://www.youtube.com/watch?v=WJFl7Eekupk

As US Stocks Collapse, Japan's Currency Shock & China Trade War Threatens Bigger Sell-Offs

Sean Foo:  7-26-2024

The US stock meltdown just erased $1 trillion dollars of investor money. As the AI and tech bubble starts to deflate thanks to poor earnings, a perfect storm is brewing that could cause even bigger sell-offs.

 We must understand two big risks to the US economy and the equity markets - the big Yen reversal & the coming trade war risk with China.

Timestamps & Chapters:

0:00 US $1 Trillion Meltdown

 3:03 Japan's Major Currency Risk

6:02 China Trade War Nightmare

8:36 US Economy & China Retaliation

 11:55 More Stock Market Pain Coming

https://www.youtube.com/watch?v=2RD6kgz8-1Y

More News, Rumors and Opinions Friday PM 7-26-2024

 KTFA:

Clare: The only regional leader.. Nechirvan Barzani participates with world leaders in the opening of the Paris Olympics

7/26/2024

The President of the Kurdistan Region, Nechirvan Barzani, will participate in the opening ceremony of the Paris 2024 Olympic Games, as one of the prominent figures and the only regional leader at this global event.

This participation represents a milestone in international relations and highlights the Kurdistan Region on the global stage. It also reflects the role of President Nechirvan Barzani as a regional leader and an active and influential party in the international arena.

Relations with France

Nechirvan Barzani's presence reflects the strong relations between the Kurdistan Region and France, which, as one of the countries supporting Kurdistan in various fields, sees Barzani's participation as an opportunity to strengthen these relations.

Interacting with world leaders also allows Barzani to open doors for more cooperation and investment in the region, as participating in a major global event such as the Olympics enhances the image of the Kurdistan Region internationally and demonstrates its ability to play an effective role in major global events.

Another dimension of participation is that it gives Kurdish culture a chance to be in the spotlight, which can enhance the understanding and appreciation of Kurdish culture on a global level.

President Barzani's participation in the international event also enhances the image of cooperation between the Kurdistan Region and the government in Baghdad, as the region shows its interest in participating in major global events, in addition to giving a political message that reflects the stability of the region and its ability to interact with the international community in a positive way.

Barzani and world leaders

In addition to Barzani, France is preparing today, Friday, to receive a large number of heads of state and government, kings, and the First Lady of the United States, Jill Biden, in a unique opening ceremony for the Summer Olympics on the Seine River, amid tight security reinforcements.

The ceremony will also be attended by Iraqi President Abdul Latif Rashid, in addition to a large group of European leaders, headed by the new British Prime Minister Keir Starmer, who seeks to strengthen relations with France, German Chancellor Olaf Scholz, Finnish President Alexander Stubb, Greek Prime Minister Kyriakos Mitsotakis, Georgian Prime Minister Irakli Kobakhidze, accompanied by the country's President Salome Zourabichvili, and Moldovan President Maia Sandu.

The Olympics will be an opportunity for intense diplomatic activity, as the Portuguese UN Secretary-General Antonio Guterres will urge countries to "lay down their weapons", stressing the importance of the "Olympic Truce" called for by French President Emmanuel Macron.   LINK

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Clare: 15 trillion dinars raises controversy in the budget

7/26/2024

The manipulation of the budget has sparked controversy between the government and the House of Representatives.

Economic expert Salah Nouri told {Euphrates News} that: "It is too early to analyze the amount of {15} trillion dinars, as it is now the subject of controversy over falsification of the budget tables between the House of Representatives and the government." 

Salah added, "Assuming that there is an increase of this amount in the operating budget, it increases the budget deficit, and increasing the deficit is a step towards a liquidity crisis."

The Parliamentary Finance Committee revealed, yesterday, Wednesday, different budget tables before and after its approval, with a difference of 15 trillion dinars.

Committee member, Moeen Al-Kazemi told {Euphrates News} that the budget tables that arrived from the Council of Ministers and were approved inside the parliament are the same as the government tables; therefore, the letter that we received from the Council of Ministers that the tables that were referred after the vote have a difference and a large difference in some chapters that reach 15 trillion dinars.

He added that the spending budget amounts to 211 trillion dinars; but the tables that were signed by the Parliament Presidency and sent to the Council of Ministers read 226 trillion dinars.
Al-Kazemi explained that the Prime Minister's Office sent the table signed by the Parliament Presidency, which included: 

- An increase in the amount of the ration card by 5 trillion dinars.
- Increase in oil revenues by 5 trillion dinars.
- Reduce fees by 5 trillion dinars.
- In addition to financial increases for the Ministry of Electricity and some governorates.

Raghad    LINK

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

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:
August is looking good...a lot is coming to a point in August.  Iraq is opening up 4 military manufacturing plants...to produce military equipment and weapons.   Isn't that saying the sanctions will be off?  FRANK:  Your country has no sanctions.... whatsoever of any kind. 

Frank26  A lot of people get confused.  It's like stepping in quicksand.  You see, the lifting of the zeros from the exchange rate is a little different from the lifting of the three zeros from the currency, fiat, physical.

There Is NO WAY To Stop It! AN EXTREME DECLINE IS DEAD AHEAD. IMPORTANT UPDATES...

Greg Mannarino:  7-25-2024

https://www.youtube.com/watch?v=H26SdXBK5YM

NEW LOW: Fed's $1 TRILLION Loss, US' is $35 Trillion in Debt as Real Estate Crisis Worsens

Lena Petrova:  7-25-2024

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

Seeds of Wisdom RV and Economic Updates Friday Afternoon 7-26-24

Good Afternoon Dinar Recaps,

UK travellers told to SWAP FOREIGN CURRENCY NOW ahead of coming SWITCH

"If you still have the notes from your travels you may find it hard to swap them back next year."

"UK holidaymakers are being advised to exchange any leftover Bulgarian Levs or Romanian Leu ahead of a significant financial shift which was due next year. Both nations are preparing to adopt the Euro, joining the eurozone, which will render their current native currencies obsolete and potentially complicate the process of converting them back into sterling."

"Bulgaria has been growing in popularity as a family holiday destination for UK travellers since 2018, with its beach resorts being named the most affordable in Europe. Hundreds of thousands of Brits now choose Bulgaria for their annual holiday each year."

"A similar situation is expected for the Lev and Leu, sparking concerns among tourists and expats. Mario Van Poppel, founder of Leftover Currency, said: "With Bulgaria and Romania joining the eurozone, British travellers holding onto Levs or Leu need to act promptly. "Once the Euro is adopted, it will become increasingly difficult and costly to convert these currencies back to sterling."

"He warned: "The window of opportunity is closing fast. If people don't exchange their levs or leu before the transition, they might face significant hurdles. Banks in the UK may no longer accept these currencies, and travellers might find themselves forced to travel back to Bulgaria or Romania just to get their money's worth."

"This is not only inconvenient but can also lead to financial losses."

@ Newshounds News™

Read more:  Liverpool Echo

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Israel selects 14 participants for Digital Shekel Challenge

In May the Bank of Israel unveiled the Digital Shekel Challenge, inviting participants to propose novel central bank digital currency (CBDC) applications through the use of application programming interfaces (APIs). It was inspired by a similar BIS and Bank of England initiative, Project Rosalind.

Today it announced the selection of 14 teams. Given the deep technical skill base in Israel, it’s not surprising that around a dozen of the teams are Israeli.

We believe just two teams don’t have direct Israeli links. One is IDEMIA France, known for its offline CBDC functionality. The other is OxPay, although there are several companies that go by that name.

Apart from IDEMIA which has more than $3 billion in revenues, two of the larger participants are Fireblocks and PayPal (Israel). Technically Fireblocks is U.S. based but is Israeli founded. It’s best known for its custody technology and the Fireblocks Network and recently has been using that network to target payments. Fireblocks is also a partner of the Tel Aviv Stock Exchange (TASE) in the development of digital government bonds and digital assets.

The full participant list is:

▪️Bits of Gold
▪️Brinks Israel Ltd. + Committed Digital Ltd
▪️COTI
▪️Credics Technologies LTD
▪️Team Energy, led by Viacheslav Pozharskii
▪️Fireblocks
▪️Idemia France SAS
▪️Kima Finance
▪️Open Finance LTD
▪️0xPay
▪️Paypal Israel LTD
▪️Qedit
▪️Shva
▪️Team Levana, led by Doron Asor

CBDC use cases
Meanwhile, the use cases range from connecting the CBDC to other payment systems to split payments, conditional payments and sub wallets. The participants will also explore implementing various technologies while using the digital shekel for payment.

Trials run for three months start in early August.

@ Newshounds News™

Read more:  Ledger Insights 

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RIPPLE- SEC UPDATE ON CLOSED-DOOR MEETING JULY 25

1. SEC did not ask Ripple to pay $102.6 million in penalty, attorney Jeremy Hogan says it was a legal argument.

 
2. SEC vs. Ripple lawsuit awaits final ruling from Judge Analisa Torres.

 
3. XRP hovers around psychological support level at $0.60, early on July 26.

"Pro-crypto attorney says Securities & Exchange Commission (SEC) and Ripple could settle in a “compromise” and not a win for the two parties. Attorney Bill Morgan, Fred Rispoli and Jeremy Hogan commented on the recent events in the SEC vs. Ripple lawsuit, the closed-doors meeting and the likelihood of a settlement. "

"Pro crypto attorney Jeremy Morgan says that the SEC did not ask Ripple for $102.6 million in its filing. Instead, the regulator noted that even by Ripple’s argument the fine would be $102.6 million, far exceeding the remittance firm’s $10 million offer. "

"Ripple had argued in its filing that a $10 million fine would be apt for the alleged securities law violation.  

Attorney Fred Rispoli predicted that the SEC vs. Ripple lawsuit will end by the end of July 2024. In a recent tweet attorney Bill Morgan commented on the closed-doors meeting with the SEC and said that a settlement is most likely with a compromise rather than a win for the parties. "

@ Newshounds News™

Read more:  FX Street 

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Philippines to launch wholesale CBDC by 2029 latest

Bangko Sentral ng Pilipinas (BSP) is working on Project Agila for wholesale central bank digital currency trials (wCBDC) trials. During a press briefing on the topic, Deputy Governor Mamerto Tangonan said he expected the wCBDC to go live within the term of new BSP Governor Eli Remolona Jr which runs until 2029. FinTech News reported that the launch would be early in the term.

The purpose of the current trials is to help both the central bank and ten participating commercial banks to go up the learning curve.

The Deputy Governor outlined three uses cases. The highest priority requirement is for interbank settlement on weekends and holidays. Another is the settlement of securities. And a third is cross border payments. Notably, the BSP is an observer of the mBridge project involving the BIS and the central banks of China, Hong Kong, Thailand, the UAE and Saudi Arabia.

@ Newshounds News™

Read more:  Ledger Insighta

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WHAT IS A NON-MARKET ECONOMY AND WHICH COUNTRIES ARE IN THIS CLASS

Nonmarket Economy Status under U.S. Trade Laws

The Department of Commerce has the authority to designate countries as NMEs for the purpose of U.S. antidumping and countervailing duty (AD/CVD) laws. An NME is a country that Commerce determines “does not operate on market principles of cost or pricing structures, so that sales of merchandise in such country do not reflect the fair value of merchandise.”

In designating a country as an NME, Commerce considers the extent to which :
(1) the country’s currency is convertible;
(2) its wage rates result from free bargaining between labor and management;
(3) joint ventures or other foreign investment are permitted;
(4) the government owns or controls the means of production; and
(5) the government controls the allocation of resources and price and output decisions.

"Commerce may also consider other factors that it considers appropriate. An NME designation remains in effect until revoked by Commerce. There are currently 12 countries, including Vietnam, designated as NMEs. Commerce designated Vietnam as an NME in 2002 during its antidumping investigation into Vietnamese catfish exports."

VIETNAM
"The U.S. Commerce Department said on Wednesday it has delayed a difficult decision on whether to upgrade VIETNAM to market economy status by about a week until early August, citing IT disruptions from the CrowdStrike software bug.

A decision on the upgrade that Hanoi has long sought had been due by Friday. The upgrade is opposed by U.S. steelmakers, Gulf Coast shrimpers and honey farmers, but backed by retailers and some other business groups."

"VIETNAM has long argued it should be freed of the non-market label because of recent economic reforms, and it said that retaining the moniker is bad for increasingly close two-way ties that Washington sees as a counterbalance to China.

Opponents of upgrading VIETNAM - one of 12 economies labeled by Washington as non-market, including China, Russia, North Korea and Azerbaijan - argue that Hanoi's policy commitments have not been matched by concrete actions and it operates as a planned economy governed by the ruling Communist Party."

@ Newshounds News™

Read more:  CRS Reports, Reuters

~~~~~~~~~

Silver Falls As Dollar Index Rebounds Amid Key Economic Data Analysis.

Silver prices experienced a significant decline of 4.2%, settling at 81,331 due to the fluctuating dollar index as traders assessed key economic data. 

The U.S. economy demonstrated stronger-than-expected growth in the second quarter, with a 2.8% annualized rate increase in GDP, as reported by the Commerce Department's Bureau of Economic Analysis. 

Despite substantial rate hikes by the Federal Reserve in 2022 and 2023, the U.S. economy remains robust, buoyed by a resilient labor market even though the unemployment rate has risen to a 2-1/2-year high of 4.1%.

Additionally, the Labor Department reported a larger-than-expected decrease in new applications for unemployment benefits, with a drop of 10,000 to a seasonally adjusted 235,000 for the week ending July 20. This reduction is partly attributed to the fading impact of weather-related distortions and temporary automobile plant closures.  

The previous week saw a rise in claims due to disruptions from Hurricane Beryl and retooling closures in the automobile sector. In a surprising move, China's central bank reduced its one-year medium-term lending facility rate by 20 basis points to 2.3%, the most significant cut since April 2020. This unexpected rate cut aims to stimulate economic activity amid global economic uncertainties.

From a technical perspective, the silver market is experiencing fresh selling pressure, with a 6.52% increase in open interest, bringing it to 29,188. Prices have fallen by 3,563 rupees, indicating a bearish trend. Currently, silver is receiving support at 79,830, and if this level is breached, it could test 78,330. On the upside, resistance is anticipated at 83,665, with a potential move above this level leading to a test of 86,000.

Silver Price Today

Open 27.99

High 28.22

Low 27.75

Prev close 27.98

@ Newshounds News™

Read more:  Investing  

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RKF Jr. says he would include Bitcoin, gold, and platinum in a basket to back Treasury bills

(Kitco News) – The list of politicians calling on the U.S. government to purchase and hold Bitcoin (BTC) as a strategic reserve asset continues to grow, with Presidential candidate Robert F. Kennedy Jr. becoming the latest to advocate for holding the top crypto in the Treasury.

Kennedy spoke during industry day at Bitcoin 2024, the annual Bitcoin conference currently underway in Nashville, Tennesse, where he unveiled a plan that could see the U.S. become the world’s largest BTC holder.

During a conference panel with Roundtable’s Scott Melker and Custodia Bank CEO Caitlin Long, RFK Jr. admonished the Federal Reserve, saying the central bank had the interest of bankers, not the general public, at heart.

“The relationship between Congress and the Fed is both parasitical to our country, and it’s a symbiotic relationship,” he said. “The Fed is not a public institution … The decision-makers are appointed by the banking industry. Its function with these cycles of quantitative easing followed by high interest rates are… strip-mining cash and equity from the American middle class and pumping it upward to this new oligarchy of billionaires.”

"The coup de grâce was the lockdowns during Covid, which shut down all the small business in this country, which is what we should be nurturing, and kept open the Walmarts, and the Amazons, and Facebook, and the oil industry, and the processed food industries, and Big Ag, they all flourished during that period,” he added. “And meanwhile, Main Street just got liquidated.”

To help start the process of leveling the playing field and returning the U.S. to a system of sound money, Kennedy recommended the creation of a basket of hard currencies and other assets that could be used to provide solid backing for the U.S. dollar.

“I would be willing to add Bitcoin to the balance sheet. I’m going to do that. I’m gonna actually do a basket of hard currencies of maybe platinum and gold and other hard currencies and begin issuing at least the class of Treasury bills that are anchored to hard currency,” he said. “Let’s say the first year by 1% and then maybe the next year by 2% to watch how that goes because that will inject discipline into the product and ultimately get up to 100%.”

“I would like to have the federal government begin to buy Bitcoin and over my term of office [and] ultimately have an equivalent amount of Bitcoin that we have gold,” he added. “Because Bitcoin is an honest currency, it’s a currency that’s based upon proof of work.”

 The plan, as laid out by RFK Jr., would see the government purchase enough BTC to equal the amount they hold in gold – currently estimated at 8,134 tons worth approximately $615 billion.

According to data provided by Arkham, the Department of Justice currently holds 213,239 Bitcoin that were acquired through various enforcement actions, meaning that to achieve Kennedy’s goal, the Treasury would need to acquire more than 9 million additional BTC at the current market price – equal to 45% of all the BTC that will ever exist.

For perspective, MicroStrategy, the largest corporate holder of Bitcoin, owns 226,331 BTC, and BlackRock, the largest spot Bitcoin ETF manager, controls 334,000 BTC.

 Kennedy said the goal of the move is to redefine monetary policy and enhance fiscal discipline within the federal government.

 He also appealed to the crypto community’s ideals of personal freedom, property rights, and governmental integrity, saying, “Bitcoin is not only an offramp to this inflationary highway which is the highway to hell, but it also is a way of restoring integrity to our government. It’s a way of restoring personal freedoms, it’s a way the middle class can isolate itself from inflation, which is just a form of government theft.”

As president, he vowed to reform the Fed, block the creation of a central bank digital currency (CBDC), and end “money printing” to fund budget deficits. 

@ Newshounds News™

Read more:  Kitco 

~~~~~~~~~

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The BRICS UNIT: The Catalyst for a Revolutionary Global Currency Reset

The BRICS UNIT: The Catalyst for a Revolutionary Global Currency Reset

On July 25, 2024 By Awake-In-3D

WHY, HOW and WHEN the BRICS UNIT leads us to a groundbreaking gold-backed currency reset worldwide.

The new BRICS UNIT is getting a lot of attention these days. Over my 14+ years of being involved in the Global Currency Reset (GCR), the subject has never been more front and center on the world stage than today.

In This Article

• Understanding the UNIT Currency Initiative

• Timeline of the BRICS Summit

• Composition and Backing of the UNIT Currency

• Benefits for Precious Metals Miners

Keep Watching

Visitors enjoy awesome spectacle of Rome's Colosseum at night00:00/01:01

I have been reporting extensively about the new BRICS Gold-backed Financial System, and for good reason. I now believe that the UNIT System is the definitive model for the GCR and the subsequent revaluation (RV) of global currencies.

I am committed to continuing my in-depth reporting and analysis of the BRICS UNIT System here at GCR Real-Time News. This platform will remain the most comprehensive source of real-world, fact-based RV/GCR news and opinion for my readers worldwide.

While the BRICS UNIT System may not be the final iteration or event of the RV/GCR, it is undoubtedly the catalyst that will offer a completely new currency and cross-border payment/settlement system alternative to the global fiat currency debt system.

It is a model that will initiate the eventual global adoption of gold and real assets to back sovereign currencies.

What makes the BRICS UNIT System so compelling is its openness. It is not a closed, inclusive financial system designed only for BRICS Member Nations. It is open to any country, whether a BRICS Alliance Member or not.

It will even work with nations that remain on a pure fiat currency system. This ability to create exchange rate pairs between UNIT and Fiat based currencies is where our RV Currency Exchange opportunities will be realized.

It is expected that the Western G-7 Alliance will resist transitioning to a gold and real asset-based currency system until the last days before the global, US dollar-dominated fiat financial debt system completely implodes and freezes into its inevitable death.

This article is the first of a comprehensive four-part series on the BRICS Gold-backed UNIT Currency System.

Here in Part 1, I will explain the basic foundation and composition of the BRICS Gold-backed UNIT Currency so that you may gain a fundamental understanding of this revolutionary alternative financial system that will change the face of the global monetary system forever.

The UNIT is a significant catalyst for a global currency revaluation (RV), offering a transparent alternative to the fiat currency debt system.

The UNIT system, open to all nations, aims to back sovereign currencies with gold and real assets.

The upcoming BRICS Summit will be pivotal in its adoption, marking a significant shift towards a stable, efficient global monetary framework.

BRICS UNIT Currency Initiative

The BRICS nations are working to enhance economic cooperation by promoting local currencies in international trade.

A key proposal is the UNIT, a gold-backed digital asset operating on a blockchain platform. This initiative aims to provide a stable and reliable medium of exchange, leveraging gold’s intrinsic value and blockchain technology’s efficiency.

ALSO READ: Can the VND and IQD Reach 1 to 1 Exchange Rates in the BRICS Gold-Backed Currency System? Yes They Can!

BRICS Summit Timeline

A critical decision regarding the UNIT currency will be made at the upcoming BRICS Summit, scheduled for October 22 to 24, 2024, in Kazan, Russia.

The summit will bring together BRICS leaders to discuss the strategic direction and operational aspects of the UNIT, potentially setting the stage for its adoption.

Composition and Backing of the BRICS UNIT

The UNIT currency will be uniquely structured to ensure stability and value. Each UNIT will be backed by a reserve basket composed of 40% gold, with the remaining 60% consisting of participating BRICS currencies, all convertible into gold.

No single currency will have a weight greater than 30% in gold terms, ensuring a balanced and diversified reserve. This structure aims to mitigate risks and enhance confidence in the UNIT currency.

LISTEN TO THE “ENDGAME GCR” PODCAST: Gold-Backed Currency Exchange Rates Revealed

Potential Winners from BRICS UNIT Gold Demand

The adoption of the UNIT currency is anticipated to have significant economic implications, particularly benefiting precious metals miners.

Companies listed on the Australian and Canadian stock exchanges, major players in the global precious metals mining industry, stand to gain from the increased demand for gold that the UNIT currency would generate.

UNIT Ecosystem Design

The UNIT currency will be created through a blockchain-based node system.

Participants will mint UNITs by depositing corresponding values of gold and BRICS currencies at these nodes. The ecosystem will rely on decentralized blockchain-based synchronization for integrity, ensuring transparent and secure transactions.

The UNIT is not intended to replace local currencies in domestic transactions but will function alongside them, providing an additional medium for international trade and financial operations.

Transaction Costs

One key advantage of the UNIT currency system is its potential to reduce transaction costs.

Processing fees for transactions on the UNIT blockchain are expected to be lower than those associated with traditional payment systems, such as bank wires.

This cost-efficiency could make the UNIT an attractive option for businesses and financial institutions engaged in cross-border transactions.

Governance and Rules

The UNIT ecosystem’s governance will be structured around a Decentralized Autonomous Organization (DAO), supported by a legally recognized international intergovernmental organization (IIO).

Decisions within the IIO will be made through super-majority votes by nodes, ensuring a democratic and transparent governance process.

Currency Eligibility for UNIT

To be eligible for inclusion in the reserve basket backing the UNIT, a currency must have price discovery in gold terms.

This requirement ensures the value of the currencies in the reserve is transparent and reliable. Notably, UNITs will not be redeemable for the underlying reserves directly.

Redemption will only be possible through a buyout procedure conducted by a node, maintaining the reserve system’s stability and integrity.

The Bottom Line

The proposed UNIT currency represents a significant innovation in international finance, combining gold’s stability with blockchain technology’s efficiency. The upcoming BRICS Summit will be a pivotal moment in determining this initiative’s future, with the potential to reshape global trade and financial transactions.

This four-part series will continue to explore the intricacies and implications of the BRICS gold-backed UNIT currency system, offering a comprehensive understanding of this groundbreaking development in global finance.

The BRICS UNIT system is not a closed financial system but is open to any country, including those outside the BRICS alliance and those operating on a fiat currency system.

This inclusivity could lead to opportunities for RV currency exchanges. The Western G-7 Alliance might resist transitioning to a gold and real asset-backed currency system until it becomes unavoidable.

However, the BRICS UNIT system is poised to be a catalyst, initiating the global adoption of gold and real assets to back sovereign currencies.

Supporting article: https://m.canadianinsider.com/blog/will-brics-countries-come-together-one-unit-why-gold-and-gold-miners-may-win-multi-nodal-world#

© GCR Real-Time News

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

https://ai3d.blog/the-brics-unit-the-catalyst-for-a-revolutionary-global-currency-reset/

News, Rumors and Opinions Friday AM 7-26-2024

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 Fri. 26 July 2024

Compiled Fri. 26 July 2024 12:01 am EST by Judy Byington

EBS Worldwide Activation At Any Time

They Are Not Ready For This Systematic Destruction of the Old Guard.

JP Morgan Predicts US Stock Market Crash

Bank Runs Imminent

Digital War

We Will Win-Power Will Return To The People

Global Currency Reset: Opinions/Rumors

Thurs 25 July 2024 Bruce:

The EBS and NESARA/GESARA Announcements were scheduled in the near future.

Tier4b (Us, the Internet Group) should be notified to set exchange/redemption appointments sometime between 11 am and 11:15 am EST Fri. 26 July 2024.

Redemption Centers will be open on Sundays.

Redemption Centers were expecting emails from the new US Treasury and a separate email from the new US Treasury was expected by Wells Fargo, HSBC and Bank of America on that same 11 to 11:15 am EST on Fri. 26 July 2024.

They wanted appointments to start before the Paris Olympics began at 7 pm EST that Fri. 26 July 2024.

~~~~~~~~~~~

Thurs. 25 July 2024 Wolverine Live Chat:

It has been very emotional for me everyone. The calls started coming in about 5 a.m.  There are things I cannot say due to confidentiality and people being under NDA. I want to tell you the gates are opened!!  Certain platforms have been released, at least 4 to 5 of them in Brazil.

Next week a huge platform will be released as well. Also hearing Asia to be released, now with liquid funds. Precatorious are pure liquid now and is releasing funds to the members.

I am absolutely ecstatic. This is real. Bondholders are getting paid, and more people are getting notified.

I am praying that by the end of the month we will all be blessed; I have not received any news from Reno about Tier4B. Reno is very quiet.  I have been trying to get in contact with someone in Reno, but cannot, but it might be a good sign.

Bondholders are flying to Zurich with paid airline tickets. Not hearing much from there, but Reno and Zurich are two of the largest platforms/exchanges and I need to know what is going on. 

It is all coming. I have to be careful in what I saw as I cannot ruin it for everyone.  This is not hopium. This is real and from the boots on the ground.  

I have been overwhelmed with so much emotion. I am going to church now to thank God for what is coming and that this is finally happening. Those trumpets and opera and the whole thing will be coming, I hope, either today or tomorrow, we are that close to releasing this for you guys!!!!

Already the Precatorious have released their own opera.

Venezuela has released their own song right now, but that is the song of liberty. They are declaring Liberty not just for the RV, but for celebrating the downfall of the tyranny upon them for more than 20 years, having suffering under Maduro, a ruthless dictator, and the other Communist Chavez, who is now in Hell for what he did to his country and its people.

There are still Yellow Dragons available, but we are very close to this closing, so if you are interested in these please message me privately.

Again, as soon as I get that miracle call, I will wake up every one of you to have a Live Call where I will not be on it, but Carpathia will say something to all of you, then we will roll out the video, the trumpets and the opera.  Have a beautiful day. Take care and God Bless you all.  Wolverine

~~~~~~~~~~

Other GCR Intel:

Thurs. 25 July 2024 Ginger’s Liberty Lounge: “A dear friend who is connected with plans in Zurich was just informed that they acquired a new Paymaster and to watch for their invitation email (for their group) later today.”

On Tues. 23 July 2024 the Re-inhabited Republic for These United States of America was funded.

~~~~~~~~~~

Global Financial Crisis:

Thurs. 25 July 2024: “Holy Flip flops!!! Yesterday it was reported that $1.1 trillion was wiped out of the US Stock Market. Early this morning a $100 million has been liquidated from the Crypto Currency Market. Warren Buffett has sold $1.5 billion in Bank of America Stock. The US debt has nearly hit $35 trillion.” …The Yorkshire Lass on Telegram

Thurs. 25 July 2024: Amazon has deployed over 750,000 robots that replaced over 100,000 employees.

Thurs. 25 July 2024 Top Analyst Predicts U.S. Dollar Collapse: https://watcher.guru/news/brics-top-analyst-predicts-u-s-dollar-collapse

Read full post here:  https://dinarchronicles.com/2024/07/26/restored-republic-via-a-gcr-update-as-of-july-26-2024/

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

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

Jeff  They are having meetings right now to talk about the withdrawal of US troops starting in September.  For them to pull the troops out they had to have already revalued and fully completely paid the US back, US sanctions off, all that.  Iraq has to be 100% done with everything for the United States to remove the troops.  That's the very last step.

Walkingstick  This YouTube commercial [that's coming out] you're going to be seeing soon...This is pretty big.  They're just going to talk more about the monetary reform and now they're going to tell the international world publicly...It is not just for the Iraqi citizens.  It's for the world to see and understand Iraq's monetary and economic reforms.  This is an excellent way to reach out to international investors.

NEW LOW: Fed's $1 TRILLION Loss, US' is $35 Trillion in Debt as Real Estate Crisis Worsens

Lena Petrova:  7-25-2024

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

Even The Wealthy CANNOT ESCAPE Inflation (THIS MEANS DANGER)

Lynette Zang:  7-25-2024

In today's video we are talking about the continued rising cost of good/services and other necessities and how now it's even affecting the wealthy.

What happens when the consumer can no longer hold up the economy?

https://www.youtube.com/watch?v=5HiV9H5dsEc

“Tidbits From TNT” Friday Morning 7-26-2024

TNT:

Tishwash:  Pentagon: No US personnel injured in Ain al-Assad base bombing

A spokesman for the US Department of Defense "Pentagon" confirmed today, Friday, that an attack took place in the area near the Ain al-Assad air base in Iraq, but no US military personnel were injured as a result of this attack.

The spokesman said, according to Sputnik Agency: "We can confirm that the strike was carried out in an area outside the base (Ain al-Assad) and there were no damages or injuries."

He added: "At this time, we do not have information about what shells were launched and how many." link

Tishwash:  Iraq and the German Development Bank sign an amendment to the loan agreement to finance a number of development projects

The Ministry of Finance and the German Development Bank (KFW) signed, today, Thursday, an amendment to the loan agreement to finance a number of development projects.

The Ministry of Finance said in a statement received by the Iraqi News Agency (INA): "Today, at the headquarters of the Ministry of Finance, an amendment to the agreement to extend financing loans granted by the German Development Bank (KFW) for a number of development projects was signed."

It added, "The amendment was signed between the Minister of Finance, Taif Sami Muhammad, and the bank's representative in Iraq."

The new amendment stipulates - according to the ministry's statement - extending the disbursement period for projects financed by loans, as follows:
- Extending the loan agreement to rehabilitate the infrastructure to provide electricity in the liberated areas (phase three) in the amount of 140 million euros until 15/1/2027.

- Extending the loan agreement to rehabilitate the infrastructure of roads, bridges, water and sanitation in the amount of 90 million euros until 31/12/2026.  link

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

Tishwash:  President of the Republic: Security and stability in Iraq inspire optimism

President of the Republic Abdul Latif Jamal Rashid stressed, today, Thursday, that the security and stability witnessed by Iraq inspires optimism and requires everyone to unite to maintain it, while he appreciated the efforts of the Iraqi embassy cadres in France to facilitate the procedures required for Iraq's participation in the Paris Olympics.

The media department of the Presidency of the Republic said in a statement received by the Iraqi News Agency (INA): "The President of the Republic visited the Iraqi Embassy in Paris, where he met with Ambassador Wadih Batti and the embassy staff."

The President of the Republic appreciated - according to the statement - "the efforts of the embassy staff regarding Iraq's participation in the Paris Olympics and facilitating the required procedures," stressing "the importance of strengthening them towards serving the Iraqi community residing in France, and strengthening Iraq's relations with France as an important global vital center."

The President stressed "the Presidency's keenness to strengthen Iraq's foreign relations and build its partnerships at various levels and its steps towards restoring Iraq's natural role as an influential force and a positive factor in achieving peace and stability."

The President of the Republic reviewed "the conditions witnessed by Iraq in more than one field," explaining that "the security and stability witnessed by Iraq inspires optimism and requires everyone to work together to sustain it." 

The President explained that "many positive steps have been achieved in the human rights file through the Presidency's cooperation with the relevant authorities, which resulted in the release of 13,000 detainees," noting that "there are clear laws regulating Iraq's position on various humanitarian issues."
For his part, the Ambassador appreciated "the interest of the President of the Republic and his kind directives and comments in order to enhance the role of the embassy in providing the best for the Iraqi community."   link

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

Tishwash:  Al-Nusairi identifies treatments for the fluctuations in the dinar exchange rate and expectations of its return to the equilibrium price in the parallel market

The advisor to the Iraqi Private Banks Association, Samir Al-Nusairi, explained today, Thursday, that the stability of the exchange rate in the parallel market will remain in a state of fluctuation until the completion of the stages of financial and banking reform.

Al-Nusairi said, in an interview with "Al-Eqtisad News", that "the stability of the exchange rate in the parallel market will remain in a state of fluctuation until the completion of the measures currently taken to implement the stages of financial and banking reform specified in Axis Twelve and Articles 1 to 7 and the daily efforts made by the Monetary Authority to complete the regulation of foreign trade financing and strengthen and reform the public and private banking sector

Which focus on compliance with international standards and agreements and ongoing negotiations with the US Treasury and global banks and the completion of the selection of the international auditing company to audit foreign transfers for banks to enhance their balances in foreign currencies that deal in currencies other than the US dollar and the completion of the final agreements with Chinese correspondent banks to start dealing in the Chinese yuan after the temporary suspension of foreign transfers with China, as well as helping private banks find correspondent banks to deal with them after the Central Bank's decision to cancel the electronic platform inevitably during this year."

 He added, "The information confirms that there will be a breakthrough very soon by completing the above procedures and finding other correspondent banks to deal in Chinese Yuan, UAE Dirham and Euro. Efforts are also continuing with the US Treasury and the company tasked with auditing foreign transfers of the sanctioned banks in order to lift the restrictions on them by using the US dollar."

 Al-Nusairi explained: “What also needs to be completed to reform the private banking sector is taking the decision to merge the willing banks as well as the weak and troubled banks in order to reach the real size of banking activity that covers the actual need for economic requirements, and the urgent need to restore work when the electronic platform is cancelled,” stressing that “the important measure that the government is responsible for is to stop illegal imports and cancel unofficial border crossings.”

 He continued: “We must not forget, clearly and precisely, that there is an organized lobby working against achieving monetary stability, led and implemented by multiple parties linked to speculators and corrupt people who have an agenda to weaken the national economy and harm it by fabricating news, statements and short-sighted economic analyses and transforming them from reassuring news for the market and citizens into news that confuses the market and creates panic among citizens, and this is what is actually happening now.”

 Al-Nusairi explained that "the return of stability in the exchange rate to its targeted and balanced rates in the parallel trading market is achieved with the support of the relevant authorities in the government by activating other productive sectors and supporting the procedures of the Central Bank in implementing its plans to reform the financial and banking sector

And draw up clear financial policies in coordination with the monetary authority and its currently approved applications and tools and overcoming the challenges of achieving economic stability, which means achieving stability in the financial and monetary system.

This is not only the duty of the Central Bank alone, but rather it is a basic duty of financial policy and the government's methodology in managing the economy and activating sources of national income other than oil and supporting, protecting and encouraging local production and generalizing the activation of dealing in the Iraqi dinar in all internal monetary trading activities and expanding the use of electronic payment methods whenever possible."

He concluded his speech by saying: "My expectations are that the exchange rate will return to stability after completing the reform, regulatory and negotiation procedures, and this does not take a long time."  link

Mot:  ..... Huh!!! --- What Happened?????

Mot:  . getting tough it is 

Seeds of Wisdom RV and Economic Updates Thursday Evening 7-25-24

Good Evening Dinar Recaps,

XRP ETF Expected as Ripple Partner SBI Enters US ETF Market

SBI Holdings plans to enter the US ETF market, sparking speculation of an XRP ETF due to its strong partnership with Ripple and digital asset focus.

Ripple partner SBI Holdings is making headlines as it prepares to enter the ETF market. This move has led to speculation about a potential XRP ETF, given SBI’s strong partnership and association with Ripple, a company that holds the largest share of XRP.

For instance, on July 1, SBI Holdings began minting non-fungible tokens (NFTs) for the upcoming 2025 World Expo in Osaka, Japan. SBI leaders have also consistently endorsed XRP.

Now, a local report reveals that SBI Holdings plans to establish an investment management company with Franklin Templeton, a major US investment firm. This new venture will focus on digital assets, with SBI holding a 51% stake and Franklin Templeton 49%.

The new company from SBI Holdings and Franklin Templeton, expected to form by the end of the year, will focus on crypto assets, reports suggest. Notably, SBI will hold 51% of the company, while Franklin Templeton will hold 49%.

Launching XRP ETF Makes Sense
In June, Ripple President Monica Long had argued that launching an XRP spot ETF in the US market makes sense.

She highlighted that XRP, consistently among the top 10 cryptocurrencies, meets key criteria for such an investment product. However, Nate Geraci, President of The ETF Store, suggested that the market is not ready for an XRP spot ETF. He noted that an XRP futures ETF must precede a spot ETF, emphasizing the need for a regulated trading history.

Industry Opinions on XRP
Recall Yoshitaka Kitao, Chairman and CEO of SBI Holdings, had shared his optimistic views on XRP’s future, expressing confidence that XRP would benefit significantly if Ripple ultimately wins its ongoing legal battle with the US Securities and Exchange Commission (SEC).

On his hand, Crypto expert The Bearable Bull predicts that XRP will hit new all-time highs this cycle. He asserts there’s “0% chance XRP won’t go to new all-time highs.” According to him, XRP’s price has often depended on Bitcoin’s rise. With the approval of a BTC ETF and new record values, he expects XRP ETFs in 2025.

The Bearable Bull identifies several bullish catalysts for XRP. These include its relisting on all exchanges, the launch of AMMs, the Xahau sidechain, Ripple’s stablecoin, and the Metaco custody solution. He also mentions a potential Ripple IPO, increased political focus on crypto, and expected regulatory clarity. Additionally, Ripple’s legal case is likely to conclude this summer.

@ Newshounds News™

Read more:  The Crypto Basic

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Gold price collapses to two-week low amid robust US economic data

—Gold prices fall 5% from July 17 peak of $2,483 to $2,364.
—US Q2 GDP beats expectations, strengthening the US Dollar and impacting gold.
—Market certainty grows for a Fed rate cut in September as Treasury yields decline.

Gold price tumbled to a two-week low on Thursday after the US Bureau of Economic Analysis reported that the economy in the United States (US) fared better than expected in the second quarter of 2024. This weighed on the precious metal, which lost over 1.30%, and XAU/USD trades at $2,364 at the time of writing.

Bullion prices hit their highest level on July 17, at $2,483; since then, they have fallen about 5% toward the current spot price. XAY/USD’s fall is mostly attributed to profit-taking as US Treasury yields also dropped while the Greenback remained firm.

US data revealed that the Gross Domestic Product in Q2 was better than expected, crushing the first-quarter numbers. Meanwhile, the number of Americans filing for unemployment benefits dipped compared to the week ending July 30. Durable Goods Orders contracted more than -6%, though excluding aircraft and transport, they recovered from May’s drop.

Despite all that, the US 10-year Treasury note coupon edged lower by more than four basis points (bps) and ended at 4.245% on Thursday. According to the CME FedWatch Tool data, investors seem 100% certain that the Federal Reserve will slash interest rates a quarter of a percentage point at the September meeting.

Daily digest market movers: Gold price on the backfoot as US GDP advances
—US GDP for Q2 2024 jumped from 1.4% to 2.8% QoQ, exceeding forecasts of 2% on its advance reading.
—US Initial Jobless Claims for the week ending July 20 rose by 235K, less than the estimated 238K and lower than the previous week's 245K.
—US Durable Goods Orders plummeted by -6.6% MoM in June, significantly below the estimated 0.3%. However, Core Durable Goods, which excludes aircraft, expanded by 0.5% MoM, up from -0.1% and above the consensus projection of 0.2%.
—The Fed’s preferred measure of inflation, the Core PCE, is expected to dip from 2.6% to 2.5% year-over-year (YoY).

@ Newshounds News™

Read more:  FX Street

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Copper: Demand expectations melt down – TDS
7/25/2024

Prices are more likely to overshoot to the downside, notwithstanding the likely overly pessimistic sentiment surrounding demand, TDS senior commodity strategist Daniel Ghali notes.

Demand sentiment may be nearing a local bottom
Our gauge of demand sentiment embedded within the cross-section of commodities prices is now nearing its lowest levels of the year. These levels are now quantitatively inconsistent with recent history, and considering macro vol has been fairly muted, commodity demand sentiment now appears oversold.

This is a massive shift from just a few short months ago when demand sentiment appeared extremely overbought, contributing to the speculative fervor that catalyzed a momentous rally in Copper prices. Today, we now estimate that 80% of discretionary length in the red metal has already been liquidated, and we now see signs that the top traders in Shanghai are notably covering their shorts.

That being said, CTA trend followers still hold a substantial amount of dry-powder to sell and now have only a narrow margin of safety against selling programs. In fact, our simulations of future prices also suggest that a flat tape can now spark large-scale CTA selling activity over the next week. Overall, this suggests that prices are more likely to overshoot to the downside, notwithstanding the likely overly pessimistic sentiment surrounding demand.

@ Newshounds News™

Read more:  FX Street

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Setting Sail for Success: TLIP and IOTA’s Role in Maritime Advancements through the EU-Funded MISSION Project

—The EU-funded MISSION project aims to address the maritime industry’s challenges by leveraging IOTA’s TLIP infrastructure, which uses distributed ledger technology for secure and seamless data sharing.

—The MISSION project also aims to integrate TLIP with AI-driven smart contracts thereby enhancing responsiveness to exchanged data.

Maritime transport, which accounts for nearly 80% of the global trade has been facing major challenges with the fragmented IT infrastructure. So far, this sector has been using disparate IT systems used by different intermediaries within the supply chain involving port community systems and fleet performance management systems.

Although these systems can automate data for real-time data sharing, they usually operate in isolation and separately leading to resource-intensive efforts in order to maintain essential information. However, this inefficiency in real-time communication largely disrupts the maritime supply chain as all actors are not in sync to receive the updated information.

In the absence of a comprehensive system for planning and monitoring port operations and sea traffic, most maritime ports operate the ships on a first-come-first-serve basis instead of working in a well-orchestrated and planned scheme. this leads to greater inefficiencies and delays within the maritime industry.

In order to address all these challenges, the EU-funded MISSION project is working on a new communication and logistics platform to optimize planning, orchestrate port operations, and coordinate port traffic. Thus, to solve all the crucial challenges associated with the maritime industry, project MISSION will leverage IOTA’s TLIP infrastructure.    

https:///t.co /61tsZqWABe
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🚢🌍 IOTA plays a pivotal role in the EU-funded MISSION project! Using its distributed ledger technology, IOTA ensures secure and seamless data sharing within the Trade and Logistics Information Pipeline (TLIP). This enhances port operations by decreasing traffic, costs, and...

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Leveraging IOTA’s TLIP Infrastructure
The IOTA TLIP infrastructure uses distributed ledger technology to facilitate seamless integration with existing systems while using APIs and state-of-the-art data standards, per the CNF report. TLIP’s role would be very crucial in the implementation of the MISSION project, thereby ensuring the security and auditability of shared data even within complex environments.

One of the key advantages of TLIP is inherent interoperability which facilitates a seamless integration of the MISSION platform into the European Blockchain Service Infrastructure (EBSI), as updated by Crypto News Flash. This integration will boost the platform’s data-sharing capabilities significantly.

Along with being crucial for just-in-time port call optimization, TLIP will improve the planning and alignment of port operations with better coordination of vessel arrivals and departures. It addresses the challenges posed by ships at sea with limited bandwidth and unstable connections, making it an essential component of the MISSION project. TLIP revolutionizes data sharing, fosters collaboration, and propels port operations into a new era of innovation.

Moving ahead, project MISSION is planning to integrate TLIP with AI-driven smart contracts thereby enhancing responsiveness to exchanged data while including alarms for non-compliance and delays. This integration of TLIP in the MISSION project highlights IOTA’s commitment to improving global supply chains via the industrial adoption of its technology, as reported by CNF.

Amid the broader market sell-off, the IOTA cryptocurrency is currently trading 7.1% down at $0.1575 with a market cap of $529 million and daily trading volumes shooting by 53%.  

@ Newshounds News™

Read more:  Crypto News Flash

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Charles Hoskinson Envisions Cardano Surpassing Bitcoin: ADA’s Growth Trajectory and Upcoming Chang Hardfork

—Cardano’s founder has unveiled the plans to topple Bitcoin in the near future.

—He believes in giving developers the tools to create usable tools that can add value.

Cardano (ADA) founder Charles Hoskinson is highly optimistic about the blockchain taking up Bitcoin (BTC) position as the leading digital asset. The founder hinted at the disclosure, ADA’s growth movement, and the upcoming Chag Hardfork upgrade in an interview on Altcoin Daily.

Hoskinson Touts Cardano as a Major Bitcoin Contender
The Cardano founder said his interest in crypto stems from the profound effect it has on the economic, and socio-political systems of the world. Hoskinson highlighted that Cardano has lived up to what Satoshi started with the creation of Bitcoin. According to him, the Cardano ecosystem is built on a growth engine that continuously adds people, absorbing the technology of its competitors.

“At some point, you just outgrow, and then you wake up, and it’s a multi-trillion-dollar ecosystem with trillions of dollars of value moving around every single day,” he added.

Hoskinson claims the key to flipping Bitcoin is to enable various teams within the Cardano community with the tooling necessary to get to the next level. He emphasized that Bitcoin has stalled over the years, the only valuable proposition being its size.

“It’s not some new technology, it’s not some new capability, it’s not the fact that it’s super easy to use for something interesting; it’s big and successful,” Hoskinson stated.

He drew historical comparisons between the rise of more flexible and inventive solutions and the demise of companies like Yahoo, Microsoft, MySpace, and BlackBerry. He also cited how Artificial Intelligence (AI) search engines are becoming a huge threat to the usability of Google.

Challenge With Bitcoin Flexibility
Furthermore, Hoskinson claims Bitcoin’s relevance over the last 10 years is due to the simplicity of its model, but like Gold, Bitcoin cannot grow above a certain floor. Cardano, on the other hand, seeks to provide the foundation for international payment networks, credit, and voting systems, offering a higher utility. ☝️

The Cardano founder says the way to remain relevant is to embrace decentralization, preserve the integrity of systems, create the right incentives for users, and embrace new ideas.

Per blockchain, Hoskinson says Ethereum (ETH) is currently suffering from its inflexibility to innovation, with Layer-2s emerging as a major competitor.

“Yeah, I do believe we can do this, this is why we are so focused on the fundamentals because you can’t stop that once it is going fast enough,” stated Hoskinson.

Update on Cardano’s Chang Hardfork Upgrade
Hoskinson also highlighted the relevance of good governance in guaranteeing the long-term viability of blockchain initiatives. His words coincide with anticipation of the Chang Hardfork, which is scheduled for later this year.

He went into further detail on the pros and cons of on-chain governance, highlighting the need for a system that allows for quick decision-making. Hoskinson noted that the Hardfork will be initiated as soon as 70% of stake operators upgrade to the final version of Node 9.0.

Meanwhile, ADA, the native coin of the Cardano blockchain, is currently trading sideways. At press time, ADA declined by 5.6% in the past day to trade at $0.3955, with the market cap pegged at $14 billion. Nonetheless, Cardano’s Total Value Locked (TVL) recently surged by 38%, as noted in our earlier article.

@ Newshounds News™

Read more:  Crypto News Flash

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More News, Rumors and Opinions Thursday PM 7-25-2024

KTFA

Clare: Central Bank of Iraq "warns" against circulation of $1 million commemorative notes

July 25, 2024

The Central Bank of Iraq renews its warning against promoting commemorative notes of the "one million" US dollar denomination used to defraud citizens.

It stressed that the security and regulatory authorities will pursue those who promote these commemorative notes and take legal action against them. It pointed out that the highest denomination of the US dollar in circulation is the "100" dollar denomination.

 It is  noteworthy that the aforementioned commemorative note is not circulated in global currency markets as it is issued by the American Millionaires Association, and this note is not considered cash because it is not issued by the US Federal Reserve and does not represent any financial instrument, and is used for gifting purposes only.

The Central Bank of Iraq warned in February 2020 against circulating the "one million" dollar denomination because it is a non-cash note.

Central Bank of Iraq
Media Office 
July 25, 2024

https://cbi.iq/news/view/2625

Clare:  Cooperation in communication and training.. Washington talks reveal a new Iraqi-American understanding

7/25/2024

The US Department of Defense and the Iraqi Ministry of Defense led the second US-Iraq Joint Security Cooperation Dialogue in Washington, D.C., on July 22-23, 2024, reaffirming their commitment to security cooperation and shared interest in regional stability.

The two delegations discussed a range of bilateral security issues under the 2008 U.S.-Iraq Strategic Framework Agreement and in recognition of our comprehensive partnership, with Defense Minister Thabet Al-Abbasi meeting with U.S. Secretary of Defense Lloyd Austin and representatives from the Defense Security Cooperation Agency, U.S. Central Command, the Department of State, and National Security Council staff.

The Iraqi delegation included the Chief of Defense Staff, who also met separately with Chairman of the Joint Chiefs of Staff General Charles Brown, the Director of the Counter-Terrorism Service, the Deputy Commander of the Joint Operations Command – Iraq, and other senior defense officials.

The U.S. and Iraqi delegations reaffirmed their commitment to developing Iraq’s security and defense capabilities and their determination to deepen security cooperation across a full range of issues to advance the two countries’ shared interest in Iraq’s security and sovereignty and regional stability.

The 2024 Joint Security Cooperation Dialogue builds on discussions held during Iraqi Prime Minister Mohammed Shia al-Sudani’s visit to Washington, D.C., in April of this year and the inaugural Joint Security Cooperation Dialogue last summer.

During the first Joint Security Cooperation Dialogue, the two sides decided to establish a bilateral Higher Military Committee to analyze three factors – the threat posed by ISIS, operational requirements, and the capability levels of the Iraqi Security Forces – to determine the future of the international military coalition in Iraq.

The dialogue continued during the Joint Security Cooperation Dialogue, building on HMC’s work over the past six months and in celebration of the upcoming 10th anniversary of the Global Coalition to Defeat ISIS’s military mission in Iraq. A detailed joint statement on the future of the Global Coalition’s mission and presence in Iraq is scheduled to be issued shortly after HMC’s conclusion.

The United States and Iraq intend to continue consultations on enhancing bilateral cooperation to ensure the lasting defeat of ISIS after more than a decade of cooperation between the international coalition and Iraq.

Hamad Medical Corporation, Qatar, noted the historic achievements of the coalition in Iraq and commended the millions of victims of ISIS, including hundreds of thousands of victims who suffered in the campaign to defeat ISIS in Iraq, such as members of the Iraqi security forces, including the Peshmerga, and partner forces around the world, including the United States. Both sides stressed the importance of Iraq continuing to provide support to the international coalition to defeat ISIS in Syria and around the world.

In addition, the two delegations reached an understanding on the concept of a new phase of the bilateral security relationship, which includes cooperation through liaison officers, training and traditional security cooperation programmes.

The delegations also discussed efforts to build the operational capacity of the Iraqi Security Forces through U.S. military assistance and security cooperation programs, including through Foreign Military Sales and Foreign Military Financing. The two sides stressed the importance of continued cooperation to ensure the sustainability of U.S.-origin military equipment used by the Iraqi Security Forces. The delegations emphasized the value of professional military education and technical training programs and decided to strengthen both.

They also explored opportunities to expand Iraqi participation in CENTCOM-led regional military exercises and strengthen Iraqi military relations with CENTCOM service component commands. The two sides also decided to begin work on a Memorandum of Understanding to provide an enhanced framework for their bilateral security relationship in the coming years, including mechanisms to ensure the continued defeat of ISIS.

In support of Iraq’s sovereignty and security, delegations reaffirmed that the advisory mission is in Iraq at the invitation of the Iraqi Government to support the Iraqi security forces in the fight against ISIS and to support and develop the Iraqi security forces, including the Kurdish security forces.

The Iraqi representatives reaffirmed their absolute commitment to protect US and coalition personnel, advisors, convoys and diplomatic facilities.

Delegations discussed the continued urgent need to return displaced persons and detainees currently in north-east Syria to their countries of origin and support their reintegration.  LINK

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

Militia Man  All this time they've been doing all these meeting in Washington.  About 48 hours ago they have come up with an agreement...to reduce forces...Alaq went to Washington about 10 days ago, unannounced visit.  He met with the US Treasury and the US Federal Bank, had to do with exchange rates...other currencies...They're going to be talking about...banking, finance, development, sovereign guarantees ... Ultimately, Iraq is going to have bilateral relations in security with the U.S. in finance, development, all those things.

Jeff   Everything is pointing to...August.  I really feel that's when the rate is changing...Everything seems to be hovered and centered around the nucleus of August being their accession to the World Trade.  Somewhere around mid-August.  That's when we're going to see most of their critical steps coming forward...It's amazing what's happening right now.  We're definitely in the period for the rate change. It's here.  It's right in front of us.

Fed Will Issue $20 Trillion In QE | David Hunter

Liberty and Finance:  7-25-2024

David Hunter forecasts a severe financial "freefall" in the near future. He predicts a sharp, intense downturn likely in 2025. This freefall, he suggests, will prompt massive central bank interventions, potentially leading to dramatic inflation and substantial gains in commodities as the cycle shifts

INTERVIEW TIMELINE:

0:00 Intro

1:20 Melt-up update

 5:40 Election

 8:23 July rate cut?

10:38 Inflation

 13:20 Impact on average person

16:00 Gold & silver

 26:00 Find Hunter online

 27:57 Banking system

https://www.youtube.com/watch?v=0IrnXXTUcU8