News, Rumors and Opinions Monday AM 7-29-2024
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 Mon. 29 July 2024
Compiled Mon. 29 July 2024 12:01 am EST by Judy Byington
Global Currency Reset: (Opinions/Rumors)
Sun. 28 July 2024 Wolverine: “It’s going to be an incredible week. It’s going to be an incredible week. Just have faith. It’s coming. Always believe. Never give up. It’s still coming this week. Venezuela is going to be free. It’s been living under a corrupt government.
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 Mon. 29 July 2024
Compiled Mon. 29 July 2024 12:01 am EST by Judy Byington
Global Currency Reset: (Opinions/Rumors)
Sun. 28 July 2024 Wolverine: “It’s going to be an incredible week. It’s going to be an incredible week. Just have faith. It’s coming. Always believe. Never give up. It’s still coming this week. Venezuela is going to be free. It’s been living under a corrupt government. Even the Military has sold their souls because of money. Now they are united and going to be free.” … “I will be leaving and will not be putting out any more posts on Telegram. Can’t tell you what I’m doing but it’s very important. Please brace yourself and thank God for everything. You will not hear from me anymore. God bless you all.”
Thurs. 25 July 2024 Wolverine: “The gates are opened! Certain platforms have been released, at least 4 to 5 of them in Brazil. Venezuela has released their own. 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. Bondholders are getting paid, and more people are getting notified.”
Sat. 27 July 2024 Mike Bara: The word I have is that Thursday night 25 July 2024, the US Treasury told Iraq that if they didn’t revalue their currency per the agreements “immediately,” UST would force the issue. Iraq responded that they were holding up because of concerns about some smaller banks that they suspected were doing business with the Iranians. They are determined that no RV funds make their way to Iran, because the two countries are historic enemies. UST responded by seizing the 5 banks, consolidating them into a single, manageable entity, and pushing the RV through. Today, Sat. 27 July 2024 the Central Bank of Iraq made the announcement regarding this transaction. As far as I know, this is the last hurdle to the revaluation.
Fri. 26 July 2024: Six planes 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 MarkZ: “Rumor implies that Bond Holders may have been paid. The currency side should go within 48 hours.”
Tues. 23 July 2024 The Re-inhabited Republic for These United States of America (allegedly) was funded out of funds of the Global Currency Reset.
Fri. 26 July BRICS Officially Announced the New Financial System: https://watcher.guru/news/brics-officially-announces-financial-system-similar-to-swift
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Global Financial Crisis:
Sun. 28 July 2024 It’s Over: Saudi Arabia Just Broke the US Dollar:
https://beforeitsnews.com/alternative/2024/07/its-over-saudi-arabia-just-broke-the-us-dollar-3817999.html
Read full post here: https://dinarchronicles.com/2024/07/29/restored-republic-via-a-gcr-update-as-of-july-29-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 Article: "15 trillion dinars raises controversy in the budget" PARLIAMENT TRIED TO ADD 15 TRILLION DINARS TO THE BUDGET SO THEY CAN STEAL IT... BUT SUDANI STOPPED IT!
Sandy Ingram Iraq did not follow Kuwait's revalue path. The Untied States pulled back on financial support for Iraq's revalue shortly after the invasion was over when they made the decision that were not in alignment with economic growth for Iraq. It's been 20 years and the currency still has not been revalued...We are learning more about why including issues like the IMF will not support a currency adjustment until the county has more income streams outside the oil industry, implementing banking reform that ties into international banking standards and providing housing for the hundred of thousands of people who have been misplaced due to decades of war, not to mention...corruption.
BREAKING NEWS; Results of US Iraq Summit Meeting This Week in Washington D.C.
Edu Matrix: 7-29-2024
BREAKING NEWS: The results of the US Iraq Summit Meeting This Week in Washington, D.C., The #iqd rate is up against the USD. Important Security Meeting results.
Breaking SWIFT: The Rise of mBridge in Global Financial Transactions.
Gopolitical Trends: 7-28-2024
In recent years, the global financial landscape has been transforming, particularly in the realm of cross-border payments. Geopolitics, especially the use of the SWIFT system for enforcing economic sanctions, is a key driver behind this shift.
SWIFT, a secure messaging network used by banks for financial transactions, has become a tool for geopolitical maneuvering.
Countries wary of potential sanctions are seeking alternatives, leading to the emergence of platforms like mBridge. Launched in mid-2024, mBridge is a collaborative CBDC project involving BIS and the central banks of China, Hong Kong, Thailand, and the UAE.
It aims to provide a more efficient and cost-effective alternative to SWIFT by using digital currencies for direct and near-instantaneous cross-border transactions.
This initiative reflects a strategic realignment in global financial infrastructure, enhancing financial resilience and economic sovereignty.
Seeds of Wisdom RV and Economic Updates Monday Morning 7-29-24
Good Morning Dinar Recaps,
Financial Stability Implications of Emerging Market CURRENCY DEVELOPMENTS
"A global soft landing remains the base case, as the July World Economic Outlook update showed. The forecast for economic growth in emerging markets has changed little, with projections edging up to 4.3 percent for both this year and next. Inflation in most major emerging markets is forecast to ease further and reach target ranges, allowing monetary policy to ease in the foreseeable future."
"And yet, emerging market currencies have declined by about 4 percent year-to-date, on net, against the US dollar, even after partially recovering in recent weeks. Latin American currencies have dropped 5 percent, while currencies in Asian emerging markets are lower by 4 percent.
Central and Eastern European and African currencies saw milder depreciations. It’s important to assess whether further declines could have adverse consequences for financial stability."
Good Morning Dinar Recaps,
Financial Stability Implications of Emerging Market CURRENCY DEVELOPMENTS
"A global soft landing remains the base case, as the July World Economic Outlook update showed. The forecast for economic growth in emerging markets has changed little, with projections edging up to 4.3 percent for both this year and next. Inflation in most major emerging markets is forecast to ease further and reach target ranges, allowing monetary policy to ease in the foreseeable future."
"And yet, emerging market currencies have declined by about 4 percent year-to-date, on net, against the US dollar, even after partially recovering in recent weeks. Latin American currencies have dropped 5 percent, while currencies in Asian emerging markets are lower by 4 percent.
Central and Eastern European and African currencies saw milder depreciations. It’s important to assess whether further declines could have adverse consequences for financial stability."
"A key determinant of exchange rates is the difference in interest rates between a given country and the United States—the benchmark in global capital markets.
At the beginning of this year, investors expected the Federal Reserve to cut interest rates significantly, which would widen or at least maintain the interest differentials with emerging markets.
With the US economy proving stronger than previously anticipated and inflation not yet reaching the Fed’s target, expectations for US interest rate cuts dissipated over the course of the year, and the US dollar appreciated. As a result, major emerging markets’ interest rate differentials vis-à-vis the US narrowed. "
CURRENCIES AND FINANCIAL STABILITY
"Orderly depreciation of a currency toward levels broadly in line with economic fundamentals—including interest rate differentials—can be constructive for an economy.
More troubling are cases where there are abrupt selloffs, which can trigger financial instability. Sudden foreign capital outflows can severely affect asset prices and open up funding gaps. Financial institutions could see foreign exchange mismatches intensify and may be unable to rollover foreign currency (particularly US dollar) funding at reasonable costs"
@ Newshounds News™
Read more: IMF
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US home sales fell in June to slowest pace since December amid rising mortgage rates, home prices
LOS ANGELES (AP) — The nation’s housing slump deepened in June as sales of previously occupied homes slowed to their slowest pace since December, hampered by elevated mortgage rates and record-high prices.
Sales of previously occupied U.S. homes fell 5.4% last month from May to a seasonally adjusted annual rate of 3.89 million, the fourth consecutive month of declines, the National Association of Realtors said Tuesday.
Existing home sales were also down 5.4% compared with June of last year. The latest sales came in below the 3.99 million annual pace economists were expecting, according to FactSet.
Despite the pullback in sales, home prices climbed compared with a year earlier for the 12th month in a row. The national median sales price rose 4.1% from a year earlier to $426,900, an all-time high with records going back to 1999.
Home prices rose even as sales slowed and the supply of properties on the market climbed to its highest level since May 2020.
That translates to a 4.1-month supply at the current sales pace. Traditionally, a 4- to 5-month supply is considered a balanced market between buyers and sellers.
While still below pre-pandemic levels, the recent increase in homes for sale suggests that, despite record-high home prices, the housing market may be tipping in favor of homebuyers.
@ Newshounds News™
Read more: AP News
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Ripple Celebrates BRAZILIAN REAL STABLECOIN Integration On XRP LEDGER
"RippleX, the development arm of Ripple, has formally announced the integration of the BRLA Token, a stablecoin pegged to the Brazilian Real (BRL), on the XRP Ledger. This event signifies a crucial advancement for the XRP Ledger and its ecosystem, offering a new layer of stability and efficiency for cross-border and domestic transactions."
"“Designed to facilitate seamless and cost-effective transactions, BRLA Token offers businesses a reliable avenue for both domestic and international payments. The team has been exploring and testing the XRP Ledger extensively for payment processing, with much more excitement on the horizon,” RippleX stated in a blog post."
"BRLA Digital, spearheading this innovation, aims to disrupt the traditional financial sector in Brazil. Their creation, the BRLA Token, is crafted to simplify and economize business transactions, both internationally and within the country."
"RippleX’s enthusiasm about this collaboration is evident. In a statement shared on X (formerly Twitter), they remarked, “BRLA Digital’s commitment to evolving Brazil’s financial scene comes to fruition with the BRLA Token. This venture into stablecoins signifies a pivotal stride towards redefining business transactions in Brazil.”
"By anchoring the BRLA Token’s value to the Brazilian Real and backing it with audited reserves, we ensure a stable and reliable medium for transactions, shielding businesses from the whims of cryptocurrency volatility,” explains Ripple. This stability is crucial for businesses seeking consistency in their financial operations."
@ Newshounds News™
Read more: Bitcoinist
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Judge Torres Considers Final Judgment in RIPPLE vs. SEC CASE
"Judge Analisa Torres is currently focusing on issuing a final ruling regarding penalties and injunctions in the Ripple vs. SEC lawsuit. Both parties can still appeal earlier decisions, adding layers of complexity to the legal proceedings. As the case draws closer to a verdict, the XRP community and legal experts are fervently anticipating a resolution, likely by August."
"The possibility of appeals looms large in this high-profile legal battle. Ripple has claimed several victories, making the SEC’s position appear increasingly tenuous. Legal analysts like Mickle suggest that despite these wins for Ripple, appeals are still on the table. Experts such as Fred Rispoli and James Murphy speculate that Judge Torres might expedite her final ruling, bypassing motions currently before Judge Sarah Netburn, potentially delivering a judgment as early as August."
@ Newshounds News™
Read More: CoinTag
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ISO 20022 - The new language of payments
What is ISO 20022?
ISO 20022 is a flexible standard for financial messages that enables interoperability between financial institutions, market infrastructures and the Banks’ customers. All banks must be ready to support the new language/standard to continue processing payments and customers should also prepare for changes.
The ISO 20022 standard supports the inclusion of richer, better structured transaction data in payments messages, and aims to deliver a better customer experience by enabling less manual intervention, more accurate compliance processes, higher resilience, and improved fraud prevention measures.
Benefits and timeline
What are the benefits of ISO 20022?
ISO 20022 adoption will provide benefits to the entire payments ecosystem i.e. Banks, Market infrastructures and to the Banks customers:
▪️ Rich structured party data and increased field size will provide greater levels of transparency and create efficiencies by reducing delays caused due to unstructured, incomplete, or inconsistent data.
▪️ By adopting dedicated returns and investigation messages and using standardized return codes, the current delays in applying returned funds back to the customers and responding to inquiries from other Banks will be drastically reduced.
▪️ By maintaining dedicated reference fields that remain unaltered in the end to end payment journey and introducing structured remittance data, customer’s reconciliation capabilities will be augmented.
▪️ Greater message harmonisation across the entire payments industry, with a universal message type for all payments will help integrate with many more schemes on a faster basis.
What are the timelines for migrating to ISO 20022 standards in different markets?
ISO 20022 adoption will take place over multiple years. Payment Market infrastructures (PMIs) of all major currencies are either live or in the process of adopting ISO 20022 by November 2025 for cross border payments. SWIFT has published a roadmap to migrate the existing message type 1,2,& 9 series which began in March 2023. Adoption plans are still evolving in each market and further clarity will be provided over time.
Adoption by major Real Time Gross Settlement (RTGS) market infrastructures/currency is currently planned as follows:
Impact, adoption and strategy
Which SWIFT messages are impacted by the ISO migration?
SWIFT plans to migrate all Customer and Inter-bank payments, as well as related advice and statement messages (the MT1xx, MT2xx and MT9xx series of messages).
What is HSBC’s plan to adopt ISO 20022?
HSBC is actively involved with SWIFT and the different market infrastructures that are migrating towards ISO. HSBC has successfully enabled its global network to receive and forward SWIFT CBPR+ messages in all of its 50+ locations and to exchange ISO messages in the newly migrated domestic markets.
We will align ourselves with the market requirements and delivery timelines set by different market infrastructures and ensure we are well placed to comply with the adoption strategies set forth by the market infrastructure.
What is HSBC’s strategy to align to SWIFT’s adoption of ISO for cross border payments?
HSBC’s adoption strategy will be driven by two different approaches:
--Markets with domestic migration announced
ISO enablement of SWIFT cross-border payments is prioritised with domestic ISO migrations in HSBC markets. This is targeted to enable ISO for both domestic and cross-border payments together for customers to choose to adopt in one go.
--Markets with no domestic migration announced
The approach is to complete SWIFT cross border traffic migration in all countries and be compliant by November 2025. If a market infrastructure announces a domestic scheme migration before 2025, our current migration strategies are flexible enough to adapt accordingly.
What are the common adoption strategies?
The common adoption strategies are:
▪️ ‘Like for like’, where the message format will be replaced from MT to ISO 20022 XML format that has comparable elements and character lengths to the existing SWIFT MT messages.
▪️ ‘Full/enhanced ISO’, where additional and enhanced existing elements are available. In order to ensure consistent usage and inter-operability, guidelines are defined by the industry.
Market practice guidelines
What are the current market practice guidelines being followed by the industry for ISO adoption?
Two guidelines are available for the payment market infrastructures:
▪️ High Value Payments Plus (HVPS+) market practice guidelines followed by certain Market infrastructures
▪️ Cross Border Payments and Reporting plus (CBPR+) guidelines. The CBPR+ group are experts nominated from the SWIFT community tasked with developing usage guidelines for ISO implementation by Banks for SWIFT cross-border payments.
While HVPS+ and CBPR+ are almost fully aligned with a few minor differences, HSBC will provide updates to the possible impacts they may have on our customers in the respective markets.
HOW TO PREPARE FOR ISO 20022
Readiness Handbooks
We have created readiness handbooks to support our customers through the transition to ISO 20022, highlighting the significant changes this will bring across the payments industry, how and why these changes will happen, and the benefits they can bring.
What should banks* be considering?
* Also includes NBFIs sending instruction via SWIFT
As published in SWIFT’s connectivity guidance document it is mandatory that all Banks are required to upgrade their messaging interface to support InterAct (store-and-forward) by 20 March 2023.
Institutions can also define the channel and format preferences for the transactions they receive through SWIFTs Transaction Manager (TM) platform. SWIFTs TM platform will ensure interoperability between users of different data formats and connectivity channels.
Here are some further considerations that banks should be looking at:
Industry Testing: Get ready to participate in industry testing as mandated by market infrastructures and SWIFT. If you use another bank for clearing, please reach out to that bank
Process & Systems: Have processes and systems geared up to fulfil your Sanctions and AML controls based on new party fields in the chain
Archive Data: Ensure that you are able to archive the rich ISO payments data as per your country regulations
Data Availability: Create solutions to make enriched data available to your customers
Structured Data: Start preparing to provide structured Name and address information for your customers(Debtors)
Training: Training and awareness of internal staff on the new language
For banks* sending Payments to:
▪️ Clearing/SWIFT
--Clearing: Be ready to accept and align with the clearing market infrastructure based on their timelines
--your Currency Provider
▪️ Have conversations with your Currency Provider
▪️ Agree the roadmap/migration timelines and expectations on message formats
For banks* receiving Payments from:
▪️ Clearing/SWIFT
--Clearing: Be ready to accept and align with the clearing market infrastructure based on their timelines
--your Currency Provider
If you use non-SWIFT based channels have a discussion with your provider
* Also includes NBFIs sending instruction via SWIFT
What should Corporate customers be preparing for?
We recommend our Corporate customers understand the potential of XML for your business and make the most of the opportunity.
Here are some considerations for Corporate customers:
▪️ Preparing for the future: A few market infrastructures already mandate corporates to provide XML as a standard while communicating to their Banks. With the increased adoption of ISO 20022 as a standard by SWIFT and major market infrastructures worldwide it is possible that more market infrastructures may recommend ISO as a messaging standard for communicating. Considering this in your technology plans will support preparation for these requirements from market infrastructures in the future.
▪️ Structured Data requirements: Market infrastructures and Clearing schemes have introduced new data requirements for party information. These include fields like creditor, ultimate debtor, initiating party, and ultimate creditor that will require corporates to provide to the bank in a structured or hybrid manner. HSBC will soon be providing communications on the required changes.
We strongly recommend you start looking at the data that is provided to HSBC and work closely with your Enterprise Resource Planning (ERP) and Treasury Management System (TMS) providers to start making required updates to comply to the new industry requirements.
▪️ Capitalising on rich standards: ISO offers multiple benefits that will help streamline end to end processing. Early adoption will allow you to capitalise on the information that is supported in remittance information and enhanced end to end references, which will be available through ISO based cash management(camt) statements/advises.
What you can expect from us
HSBC is eager to work with our clients to assist in their migration to ISO 20022. HSBC has been a strong advocate for XML and a key driver in the evolution of the ISO 20022 XML standard. Customers will be able to leverage the experience we have gained from previous implementations.
As market infrastructures finalize specifications, our team of experts will reach out to you and provide the details of changes to our existing offerings, and information on any new value added services that we will be able to offer leveraging the richer data elements that ISO 20022 offers.
Listen to our latest podcast – ISO 20022: The new language of payments
PODCAST
ISO 20022 will enable richer and more detailed data to be included in payment messages, along with a host of other benefits, resulting in a better customer experience. In this episode, Mark Avery, Senior Product Manager, HSBC, and Umut Uysal, Senior Global Product Manager, HSBC, discuss what you need to know about this exciting innovation in banking.
@ Newshounds News™
Read more: CBM HSBC
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BRICS Officially Announces Financial System Similar to SWIFT| What's Next?
BRICS Officially Announces Financial System Similar to SWIFT| What's Next?
We love Africa: 7-28-2024
Gone are the days when Brics had to secretly carry out its plan of de-dollarization and launching a new currency and a financial system.
Until now, Brics never confessed to developing a financial system that will replace SWIFT. However, secrecy is no longer the plan of action. Brics and its members have now openly announced that they are launching a financial system similar to SWIFT, a Western-controlled banking system.
BRICS Officially Announces Financial System Similar to SWIFT| What's Next?
We love Africa: 7-28-2024
Gone are the days when Brics had to secretly carry out its plan of de-dollarization and launching a new currency and a financial system.
Until now, Brics never confessed to developing a financial system that will replace SWIFT. However, secrecy is no longer the plan of action. Brics and its members have now openly announced that they are launching a financial system similar to SWIFT, a Western-controlled banking system.
The BRICS alliance is looking to bypass the Western SWIFT system and replace it with its own financial mechanism. The creation of a new financial messaging system similar to SWIFT will allow BRICS to reshape the global trade landscape.
The majority of cross-border transactions are now settled using SWIFT and cutting ties with the system provides leverage to the nine-member alliance.
BRICS can create a new payment system without incorporating the US dollar for transactions. Local currencies will be used for trade settlements ending reliance on the US dollar once and for all.
The BRICS payment system similar to SWIFT can break the global dominance of the US dollar. Russia confirmed that the BRICS alliance plans to build a new payment system similar to SWIFT. “The financial agenda of BRICS has a main initiative for building a new economic reality that solves both major tasks.
Creating our own financial messaging system for the BRICS countries, similar to SWIFT, based on state-owned banks capable of clearing settlements of counterparties from the BRICS countries and the related role of the same bank,” said Deputy Chairman of the Russian State Duma Alexander Babakov.
The ambassador said that creating an alternative to SWIFT is necessary for BRICS to push the de-dollarization agenda ahead. “It is necessary to create a new system of financial institutions.
The new system must be technically compatible with the existing financial infrastructures of the participating countries, which includes integration with national payment systems, banks, and other financial institutions.
At the same time, the system must ensure a high level of security and data protection to prevent cyber-attacks and unauthorized access to financial information,” he summed it up.
More News, Rumors and Opinions Sunday Afternoon 7-28-2024
TNT:
Tishwash: Parliamentary Committee Expects Oil and Gas Law to Be Approved Soon: Delayed Because It Is a Political Pressure Card
The Parliamentary Oil and Gas Committee expressed its “optimism” on Sunday about the imminent approval of the Oil and Gas Law, which has been suspended for 19 years, noting that its delay was due to it being a political pressure card used throughout the past years in forming successive governments.
Committee member Nazim Al-Shabli said, “The oil and gas law is the most important of the suspended laws,” noting that “it was being exploited as a political pressure card in forming governments.”
TNT:
Tishwash: Parliamentary Committee Expects Oil and Gas Law to Be Approved Soon: Delayed Because It Is a Political Pressure Card
The Parliamentary Oil and Gas Committee expressed its “optimism” on Sunday about the imminent approval of the Oil and Gas Law, which has been suspended for 19 years, noting that its delay was due to it being a political pressure card used throughout the past years in forming successive governments.
Committee member Nazim Al-Shabli said, “The oil and gas law is the most important of the suspended laws,” noting that “it was being exploited as a political pressure card in forming governments.”
But Al-Shabli expected that “the most serious government in this file is Al-Sudani’s government,” noting that “clear committees have been formed between Baghdad and the Kurdistan Regional Government, but so far the government has not sent the final version to the House of Representatives or the Oil Committee.”
Al-Shabli expressed the Oil Committee’s hope that “the relevant committees will resolve the issue and send it to Parliament, given the benefits of the law in regulating oil exports and stopping smuggling or selling oil outside SOMO,” believing that “this issue will be resolved in the coming days.”
He stressed that "the delay of the law came because it is a political card, especially since the region wants the law and considers it to be in its interest, in addition to the fact that it has old obligations and contracts with foreign companies, in addition to the continuation of smuggling."
About a year has passed since the formation of the committee to draft the oil and gas law, after a 19-year delay in the law that regulates the relationship between Baghdad and Erbil with regard to the management of oil in Kurdistan and the rest of the provinces,” while the law is considered one of the most important laws that have been suspended for years, amounting to more than 150 laws. link
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Tishwash: Iraq stores gold and expects it to rise in the next two months
Economic expert, Abdul Rahman Al-Shaikhli, expects Iraq’s gold reserves to rise over the next two months.
Al-Mashhadani told {Euphrates News} that: "Owning gold is considered part of the investment portfolio that countries seek, and Iraq has been storing gold and increasing its reserves for many years, especially with expectations of its rise during the next two months, and this means that the rise in gold prices is continuing and is part of the countries' investments."
He explained that "maintaining dollar reserves or investing in treasury bonds does not achieve profits commensurate with the size of the profits achieved from the increase in gold prices, although Iraq increased its reserves by two and a half tons of gold."
Al-Mashhadani pointed out that "these are not large numbers that enhance citizen confidence and diversify investments, and this is the policy of a group of countries and banks, not just Iraq."
Data from the International Monetary Fund showed an increase in gold reserves in Iraq and Qatar.
The data indicated that Iraq increased its gold holdings by 2,644 tons to 148,305 tons in May 2024.
The data showed that Qatar raised its gold stock by 3,112 tons to 106,423 tons in June 2024, according to Reuters. link
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Jeff Iraq is talking out of both sides of their mouth. From one side they're saying, nope we have no intention of revaluing. On the other side they're saying, heck yeah we have full intentions of revaluing...
Mnt Goat ...the Project to Delete the Zeros and the Dr Shabibi plan... was developed by the CBI and the IMF...It is a sound plan and they told they will execute it “when the conditions are right”...the three zero notes are not being obsoleted after the deadline in Iraq is over to turn them in...These notes will be used for “interbanking of international transactions” ...where large sums of cash must be transferred...The CBI told us this many times in articles...the CBI did tell us there will “probably” be at least a 10 year use of these notes by the banks for this purpose. Yes, eventually these notes will become obsoleted but we will be way out of this and exchanged by then.
The Fed Loses $100 Billion A Year; What Happens When Central Bank Goes 'Bankrupt'? | Steve Hanke
David Lin: 7-28-2024
Steve Hanke, Professor of Applied Economics, analyzes the latest inflation data, and discusses the Fed's financials, and banks' operational risks.
0:00 - Intro
1:20 - U.S.inflation
5:10 - Fed's actual loss
8:51 - Global inflation
17:46 - "America is going bankrupt"
43:00 - Banks' operational risks
Hungary Dumps G7 Banks For Record China Loan, Beijing Subsidy Tsunami To Crush EU Punishments
Sean Foo: 7-28-2024
In a shocking move, Hungary quietly takes a record billion Euro loan instead of using a G7 bank.
China is more than happy to issue the money, allowing them to effectively use their trade surplus to fund both economic and geopolitical objectives.
Meanwhile, the EU is afraid of Chinese companies building EVs in Europe itself, powered by government subsidies.
Timestamps & Chapters:
0:00 G7 Banks Dumped For China Loan
2:40 China Is Buying Supply Chains
5:42 Panic Over China EV Factories In Europe
8:41 China Unleashes Domestic Subsidy
11:40 This Is A Global Subsidy War
Economist’s “News and Views” Sunday 7-28-2024
Our Government Is Hiding That Banks Are On The Verge Of Failure
Atlantis Report: 7-27-2024
In today's financially uncertain times, the role of regulatory bodies in ensuring the stability of our banking system is more important than ever.
The Federal Reserve, charged with this significant responsibility, conducts annual stress tests on major banks to assess their ability to withstand economic downturns.
Our Government Is Hiding That Banks Are On The Verge Of Failure
Atlantis Report: 7-27-2024
In today's financially uncertain times, the role of regulatory bodies in ensuring the stability of our banking system is more important than ever.
The Federal Reserve, charged with this significant responsibility, conducts annual stress tests on major banks to assess their ability to withstand economic downturns.
These tests are specifically designed to mimic adverse scenarios and assess the resilience of financial institutions.
However, recent events have raised doubts about the effectiveness and transparency of these evaluations. Despite reassurances from the Fed, the collapse of several banks revealed weaknesses in the system that were meant to be protected against.
This discrepancy between the results of stress tests and real-world outcomes has raised increasing concerns about the actual state of our banking sector.
Banks Know a Crash Is Coming, Most Powerful Indicator Is Signaling U.S. Recession – George Gammon
Kitco News: 7-27-2024
Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews George Gammon, an investor, macroeconomics expert, and host of The Rebel Capitalist Show. Gammon warns that the world’s most powerful economic indicator is signaling a recession.
He adds that the banking crisis is far from over, noting that we are just in “the middle innings.” Gammon shares his insights on the latest macro data & the Federal Reserve.
He also outlines his own economic outlook, giving a glimpse into what he is doing with his own portfolio, weighing in on Treasuries, gold, silver, and Bitcoin.
The Western Empire is in Its Final Days: "History is Repeating" | Martin Armstrong
Living your greatness: 7-28-2024
Armstrong draws striking parallels between today’s global crises and the ominous signs before the fall of the Roman Empire.
He warns that relentless debt, profit-driven wars, unchecked migration, and rampant corruption are priming Western nations for potential collapse.
He argues that precious metals and commodities could be the ultimate safe haven for investors amidst this turmoil.
Seeds of Wisdom RV and Economic Updates Sunday Morning 7-28-24
Good Morning Dinar Recaps,
BRICS PROPOSAL TO LINK ALL MEMBER COUNTRY'S PAYMENT SYSTEMS
The proposal aims to enhance BRICS countries’ financial sovereignty by establishing a resilient and sanctions-resistant payment infrastructure. Discussions include integrating financial markets, payments in national currencies, and new mechanisms for mutual financial settlements."
"Russian Deputy Foreign Minister Andrey Rudenko revealed in an interview with TASS this week. He noted Tehran’s suggestion to integrate the payment systems of BRICS countries, similar to the integration of Russia’s Mir and Iran’s Shetab electronic banking and automated payment systems."
"Rudenko emphasized that establishing a clearance and payment infrastructure independent and resilient to sanctions would significantly enhance the financial sovereignty of BRICS. However, Iran’s initiative remains under discussion, and it is premature to define any final parameters, the Russian diplomat clarified."
Good Morning Dinar Recaps,
BRICS PROPOSAL TO LINK ALL MEMBER COUNTRY'S PAYMENT SYSTEMS
"The proposal aims to enhance BRICS countries’ financial sovereignty by establishing a resilient and sanctions-resistant payment infrastructure. Discussions include integrating financial markets, payments in national currencies, and new mechanisms for mutual financial settlements."
"Russian Deputy Foreign Minister Andrey Rudenko revealed in an interview with TASS this week. He noted Tehran’s suggestion to integrate the payment systems of BRICS countries, similar to the integration of Russia’s Mir and Iran’s Shetab electronic banking and automated payment systems."
"Rudenko emphasized that establishing a clearance and payment infrastructure independent and resilient to sanctions would significantly enhance the financial sovereignty of BRICS. However, Iran’s initiative remains under discussion, and it is premature to define any final parameters, the Russian diplomat clarified."
"This integration seeks to facilitate trade using national currencies, thereby reducing reliance on the U.S. dollar and countering U.S. sanctions. A monetary contract signed on July 6 allows the use of local currencies in trade, enhancing financial cooperation, economic resilience, and reducing dependence on Western financial systems."
@ Newshounds News™
Read more: Bitcoin News
~~~~~~~~~
Donald Trump 2024 Bitcoin Conference Speech Recap:
• On day one I will fire Gary Gensler and appoint a new SEC chairman.
• Create a US Government strategic national Bitcoin stockpile if elected.
• US Government will keep 100% of Bitcoin it owns
• Bitcoin is going to the moon.
• Never sell your Bitcoin
• Bitcoin will one day probably surpass the market cap of Gold.
• I reaffirm my pledge to commute Ross Ulbricht's sentence.
• There will never be a CBDC while I am President of the United States.
• Bitcoin and crypto will skyrocket like never before if elected president.
• Bitcoin is not threatening the dollar, the current U.S. government is threatening the dollar.
• The United States will be the crypto capital of the planet and the Bitcoin superpower of the world.
• Bitcoin stands for freedom, sovereignty, and independence from government coercion and control.
• I pledge to the Bitcoin community that the day I take oath of Office, Joe Biden and Kamala Harris' anti-crypto crusade will be over.
@ Newshounds News™
Read more: Watcher Guru
~~~~~~~~~
BRICS Poised to Dominate World Bank and IMF
"The World Bank Executive Director for Russia forecasts that BRICS nations will soon dominate the World Bank and the International Monetary Fund (IMF), attributing this shift to inevitable macroeconomic and demographic changes away from Western dominance. He emphasized the importance of working patiently toward this goal and resisting provocations from those upholding the old global system."
"BRICS, an acronym for Brazil, Russia, India, China, and South Africa, represents a coalition of major emerging economies. Earlier this year, the group expanded to include Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE), broadening its geopolitical and economic influence."
"The World Bank Executive Director concluded by stressing the importance of Russia’s involvement in this shift. “Russia’s voice is important here, and it would be irrational not to use those possibilities, particularly now as we observe a new world order emerging,” he stated, underscoring the necessity of adapting to the evolving global landscape."
@ Newshounds News™
Read more: Bitcoin News
~~~~~~~~~
United States Senator Roger Marshall has overturned his support for the Digital Asset Anti-Money Laundering Act (DAAMLA) Bill, a legislation introduced by Democratic Party Elizabeth Warren.
"Marshall’s move to back down from the bill indicates the growing concerns about the possible overreach of regulatory actions regarding the emerging crypto market."
"The Digital Asset Anti-Money Laundering Act (DAAMLA) Bill was first introduced in December 2022 by Elizabeth Warren and co-sponsor by Roger Marshall and later reintroduced into the Senate in July 2023 to target unlawful use of crypto assets.
At the time, Warren maintained that large amounts of illegal funds were being laundered by rogue nations, oligarchs, drug lords, and human traffickers through the use of digital currencies such as Bitcoin, prompting her to move toward introducing the bill.
The legislation aimed to incorporate the cryptocurrency sector into the current frameworks for counterterrorism financing and anti-money laundering (AML)."
"Since its introduction, the law has received criticism from major figures and institutions in the industry."
"This positive development comes a few months following the Blockchain Association, a trade group representing the crypto industry in Washington D.C., efforts to debunk the DAAMLA bill. Specifically, the Blockchain Association sent out a letter in February, which marks the second time, to the House Financial Services Committee and Senate Banking Committee expressing serious concerns about the measure."
"About 80 US military, national security, and intelligence officers signed the letter. According to the Association, the law jeopardizes the strategic advantage of the US, threatening tens of thousands of employment while having minimal impact on illegal actors it targets."
@ Newshounds News™
Read more: Bitcoinist
~~~~~~~~~
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Thank you Dinar Recaps
News, Rumors and Opinions Sunday AM 7-28-2024
Note From Dinar Recaps:
To our newest readers,
If you are new to the Dinar and Currency investment and wish to educate yourself further please go to Dinarrecaps .com . At the top of our blog page click on the categories button and go to The Dinar Recaps Archives or Post RV Categories for all our past posts on history of past RV’s, Exchange tips, Security and other valuable information.
We hope all of our dreams come true very soon.
Your Dinar Recaps Team
Note From Dinar Recaps:
To our newest readers,
If you are new to the Dinar and Currency investment and wish to educate yourself further please go to Dinarrecaps .com . At the top of our blog page click on the categories button and go to The Dinar Recaps Archives or Post RV Categories for all our past posts on history of past RV’s, Exchange tips, Security and other valuable information.
We hope all of our dreams come true very soon.
Your Dinar Recaps Team
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. 28 July 2024
Compiled Sun. 28 July 2024 12:01 am EST by Judy Byington
Global Currency Reset: (Rumors/Opinions)
Sat. 27 July 2024 Wolverine: Everything is coming this coming week. Please brace yourself and thank God for everything. I’ll be leaving in a few days and you will not hear from me anymore. God bless you all. Thurs. 25 July 2024 Wolverine: “The gates are opened! Certain platforms have been released, at least 4 to 5 of them in Brazil. Venezuela has released their own. 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. Bondholders are getting paid, and more people are getting notified.”
Sat. 27 July 2024 Mike Bara: The word I have is that Thursday night 25 July 2024, the US Treasury told Iraq that if they didn’t revalue their currency per the agreements “immediately,” UST would force the issue. Iraq responded that they were holding up because of concerns about some smaller banks that they suspected were doing business with the Iranians. They are determined that no RV funds make their way to Iran, because the two countries are historic enemies. UST responded by seizing the 5 banks, consolidating them into a single, manageable entity, and pushing the RV through. Today, Sat. 27 July 2024 the Central Bank of Iraq made the announcement regarding this transaction. As far as I know, this is the last hurdle to the revaluation.
Fri. 26 July 2024: Six planes 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 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.
Fri. 26 July BRICS Officially Announces New Financial System: https://watcher.guru/news/brics-officially-announces-financial-system-similar-to-swift
Fri. 26 July 2024: BOOOM!!! The Revolution is Here: GCR – GESARA – QFS Intel! No More Corrupt System – The Great Reset: GESARA vs. the New World Order! – amg-news.com – American Media Group
Vladimir Putin praises digital ruble, calls for CBDC’s widespread use in Russia. https://www.newstarget.com/2024-07-26-vladimir-putin-praise-digital-ruble-widespread-use.html
~~~~~~~~~~
Global Financial Crisis:
ALERT: The Federal Reserve has been hacked and over 33TB of Data is now missing.
Sat. 27 July 2024: US Federal Reserve Hits $1 Trillion Dollars in Unrealized Losses. US national debt interest payments will surpass $1.14 trillion this year. That would constitute more than 76% of all collected income tax. The increasing and unsustainable debt concerns only depreciate confidence in the US dollar. Moreover, it creates higher rates of inflation and erosion in the currency. Altogether, the ongoing debt issue only erodes the greenback if left unchecked. Where that becomes an even greater issue is when you factor in the opposition that the dollar is facing. When the private company that prints every fiat dollar in the world hits this level of losses, it should tell you a lot about where we are in the takedown operation. November’s presidential election must see the beginning of a change.
Sat. 27 July 2024 Ziad Al Hashimi Iraq: US Federal Reserve to permanently close five Iraqi banks. There is a preliminary agreement between the US Federal Reserve and the Central Bank of Iraq to merge smaller banks and create a larger banking entity
Read full post here: https://dinarchronicles.com/2024/07/28/restored-republic-via-a-gcr-update-as-of-july-28-2024/
**
Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man Iraq's got a massive amount of dollar reserves/foreign reserves. They've increased their gold supply...That suggests they're in good shape. They've got some security and...stability. I think everybody's starting to realize security and stability has been a big focus...It is coming to that stage where we're going to see more resulting in a far bigger way.
Frank26 The HCL is the...mechanism the bad guys in Iraq are using to delay the monetary reform. They used the budget but they got caught on that. They changed the numbers.
Disappointed in IQD Investment Here's What to Do
Edu Matrix: 7-28-2024
Are you disappointed in the Timeframe of the IQD Revalue? We all are, but here's what to do!
“Tidbits From TNT” Sunday Morning 7-28-2024
TNT:
Tishwash: New targeting of the American base on the Iraqi-Syrian border strip
A security source reported today, Saturday, that the American base in the Conoco field in eastern Syria was targeted.
This is the third targeting in three consecutive days. link
TNT:
Tishwash: New targeting of the American base on the Iraqi-Syrian border strip
A security source reported today, Saturday, that the American base in the Conoco field in eastern Syria was targeted.
This is the third targeting in three consecutive days. link
Tishwash: To reduce the threats of the factions.. Washington sends two bombers to the Middle East
The American magazine "Air and Space Forces", concerned with air forces, revealed today, Saturday (July 27, 2024), that the American forces sent two giant, newly modified B-52 bombers to the Middle East with the aim of "securing" Saudi Arabia and Jordan from "threats from Iraqi factions."
The magazine said in a report translated by "Baghdad Today", "The two modern aircraft that were sent to the Middle East to secure Saudi Arabia and Jordan and test their capabilities as part of a show of force to deter Iran and its arms in the region, took off from an air base in Romania and arrived in Saudi Arabia and Jordan in a flight that lasted thirty-two hours."
"One of the planes suffered a technical malfunction that forced it to remain at one of the American air bases in Qatar, while the other plane returned to the United States alone to make the necessary adjustments after the testing process, which sources within the Pentagon told the Wall Street Journal aimed to demonstrate the capabilities of the United States to its allies in the region, in addition to putting an end to Iranian threats through its arms," she said.
The magazine indicated that "the two planes arrived in the Middle East after Israeli Prime Minister Benjamin Netanyahu's visit to Washington, during which he expressed his concern about the threats posed to Saudi Arabia, Jordan, and some regional countries cooperating with Israel by the Houthis and armed factions in Iraq."
On Friday, newspapers such as the Jerusalem Post published reports confirming that Washington and Tel Aviv are “concerned” about the threats to the countries of the region from the Iraqi factions and the Houthis, explaining that “the threats are an attempt to put pressure on those countries to close the land trade routes that pass through their territories and on which Israel now depends to finance itself during the war,” referring to five countries, including Saudi Arabia and Jordan, that are extending supply lines to Israel through their territories as a result of the naval blockade imposed by the Houthis on ports in Israel. link
************
Tishwash: Why did Iraqi militias resume operations against Americans?
Pentagon to Asharq Al-Awsat: No injuries or damage in attacks in Iraq and Syria
Since a drone attack in late January killed three American soldiers in a desert area on the Iraqi-Jordanian-Syrian border triangle, and the US responded with extensive strikes against pro-Iranian factions in Iraq and Syria, Iraqi factions have backed off from their attacks.
Some saw the American response at the time as a “deterrent” message aimed at warning Iran against expanding the conflict in the region, against the backdrop of the Israeli war in Gaza. But last Thursday’s attack on two bases housing forces from the international coalition led by Washington, raised questions about the reasons behind the new “harassment” of American forces.
Pressure and embarrassment for Baghdad
The war in Gaza no longer seemed to be the motive behind the attack, while a Pentagon spokesman downplayed its importance and referred the question of whether it was related to the security agreement signed by Iraqi and American officials in Washington this week to the State Department.
The defense official told Asharq Al-Awsat that questions related to political relations between the United States and Iraq and political relations between the United States and Iran are the responsibility of the State Department.
“Regarding the attacks in Syria and Iraq, one rocket was fired at a military support site in the Euphrates region of Syria. The rocket did not impact the base and no injuries or damage were reported. In Iraq, two rockets were fired at Al Asad Air Base in Iraq. They did not impact the base and no injuries or damage were reported to US or coalition forces,” the official added.
Thursday's attack came after a security meeting held in Washington to discuss the future of the international coalition forces against ISIS in Iraq, while Iranian-backed armed factions are demanding the withdrawal of these forces.
The US Department of Defense said last Wednesday that the talks "reached an agreement on the concept of a new phase in the bilateral security relationship."
An Iraqi security official suggested that the attack was intended to “embarrass” the Iraqi government and “pressure” for the departure of the international anti-extremist coalition forces, a demand repeated by the pro-Iran factions.
Messages with regional and nuclear dimensions
Some believe that the attacks are “Iranian messages with regional dimensions,” including the stalled nuclear negotiations file, but why were they renewed at this time, while Iran has not yet arranged its files with its new president and America is preoccupied with its elections?
“Deterrence is never permanent,” said Behnam Ben Taleblu, an Iran researcher at the Foundation for Defense of Democracies in Washington, a Republican-friendly think tank. Speaking to Asharq Al-Awsat, he added that the halt in attacks by Iranian-backed Shiite militias on American sites in the region came after an “impressive” use of force by the Biden administration in late January after three American soldiers were killed.
But since then, the militias have tested the waters at least three times with missile and drone attacks. The more these attacks are understood, the more they have grown in scope and scale.
“Despite seeing the link between the nuclear and regional challenges that this poses, Tehran is trying to persuade Washington and Europe to separate the files,” Ben Taleblu adds. “To this end, the presidency of Masoud Pezeshkian will be designed to lure the West into a futile nuclear diplomacy, while the increase in Iranian-backed regional attacks will create the impression that there is no end in sight to the cycle of violence in the region other than appeasing Iran.” link
************
Iraq's billionaire surge, rampant corruption amid economic challenges
The number of billionaires in Iraq rivals that of nine other countries combined, a stark reflection of the deeply rooted corruption within the state.
Corruption has plagued Iraq, exacerbated by the misuse of its budget, which official statements claim has led to the loss of $250 billion over the past 17 years. However, economists argue the actual figure could be nearly double.
The number of billionaires in Iraq rivals that of nine other countries combined, a stark reflection of the deeply rooted corruption within the state.
The Commission of Integrity (COI) is set to reveal the amount of money recovered and the measures taken to prevent further financial waste.
Many Iraqis are calling for transparency regarding governmental agreements, imports, and expenditures. On June 3, 2024, the Council of Representatives approved the amended Federal General Budget Law No. 2024, which allocates approximately 211.9 trillion dinars, a 7% increase from the previous year's budget.
Former Iraqi Finance Minister Ali Allawi previously stated that out of the over $1 trillion budget from 2003 to 2020, more than $250 billion was lost due to administrative corruption. Economists, however, estimate the loss to be between $400-450 billion, nearly 40% of Iraq's total budget. This squandered amount could have funded significant infrastructure projects, such as building 400,000 modern schools or 20,000 hospitals.
Experts cite fake and overpriced contracts, corrupt officials, mismanaged investment projects, and poor economic planning as major contributors to the financial drain. Since 2003, Iraq's workforce has grown from 850,000 to over 4.5 million, yet efficiency in public service sectors remains low, with only about 30% of the budget effectively utilized.
According to Haider Hanoun, head of the COI, Iraq ranks 154th out of 180 countries on the global corruption index. Hanoun admits that enormous sums have been stolen and transferred to international banks, with some funds even financing terrorism. The COI's 2023 report indicates that over 391 billion Iraqi dinars and $500,000 have been recovered, with an additional 82 billion dinars and $5 million prevented from being wasted.
Iraq’s Poverty Levels
The Strategic Center for Human Rights in Iraq reports that over 10 million Iraqis live below the poverty line, with the 2024 budget failing to support more than one million needy families.
The ongoing economic crisis and the appreciation of the dollar have driven up commodity prices, exacerbating poverty. Southern provinces are particularly affected, with Muthanna Governorate experiencing a 52% poverty rate, followed by al-Diwaniyah, Maysan, and Dhi Qar at 48%. Baghdad and Nineveh have poverty rates of 13% and 34.5%, respectively, while central provinces average an 18% poverty rate.
On July 21, 2023, Labor and Social Affairs Minister Ahmad al-Assad announced government measures to combat poverty, noting that Iraq has fallen 20 places in international rankings.
The economic challenges and rampant corruption in Iraq continue to hinder the country's development and exacerbate poverty. The COI's efforts to recover stolen funds and prevent further financial mismanagement are critical steps toward rebuilding trust and ensuring a more equitable distribution of wealth. link
Mot: ............ they Say -- before July Ends!!!
Mot: . Love ""Logic"" - Don't YOu!!!!
Egon von Greyerz: Catastrophic Economic Collapse & The Next Great Depression Looming
Egon von Greyerz: Catastrophic Economic Collapse & The Next Great Depression Looming
Good as Gold Australia: 7-27-2024
In this most recent interview, Darryl and Brian Panes from As Good As Gold Australia talk with the legendary, Egon von Greyerz, Founder and General Manager of Gold Switzerland and Von Greyerz AG.
The world is currently very precariously placed with global debt ($350 trillion) at unprecedented levels, unmanageable inflation and sitting on the edge of WWII.
346 corporate business bankruptcies were recorded in the first half of 2024 in the US (the most during any year's first half since 2010). Could we be heading into the 2nd Great Depression?
Egon von Greyerz: Catastrophic Economic Collapse & The Next Great Depression Looming
Good as Gold Australia: 7-27-2024
In this most recent interview, Darryl and Brian Panes from As Good As Gold Australia talk with the legendary, Egon von Greyerz, Founder and General Manager of Gold Switzerland and Von Greyerz AG.
The world is currently very precariously placed with global debt ($350 trillion) at unprecedented levels, unmanageable inflation and sitting on the edge of WWII.
346 corporate business bankruptcies were recorded in the first half of 2024 in the US (the most during any year's first half since 2010). Could we be heading into the 2nd Great Depression?
During the first half of 2024, gold has recorded a 19% gain and the World Gold Council survey confirms that Central Bank Reserve managers plan to increase their gold holdings further, building on their status of being the primary price setters of gold bullion since the 3rd quarter of 2022.
Central Banks are now confirming that they are viewing gold as a strategic asset.
In 2019, only 15% of Central Banks considered their gold reserves a strategic asset. By the 2024 survey, this number had risen to 71%. Both advanced and EMDE economies face growing concerns about managing their reserve assets, including geo-political uncertainty, financial stability, default risk, long-term store of value, portfolio diversification performance during times of crisis and liquidity.
If Central Banks feel so strongly about gold, why wouldn't we? As the late Jim Sinclair would confirm, 'you need to become your own central bank.' If the BIS (Bank of International Settlements) is suggesting that Central Banks should own more gold, which they claim is a strategic Tier 1 asset, should we question their motive, especially when you read their charter and statutes?
This is a must-view, absorbing interview.
Seeds of Wisdom RV and Economic Updates Saturday Afternoon 7-27-24
Good Afternoon Dinar Recaps,
Cardano Launches Node 9.1.0: The Dawn of the Chang Hard Fork Era
▪️ Cardano’s Node 9.1.0 launch is pivotal for the Chang Hard Fork, marking significant progress in on-chain decision-making.
▪️ While ADA’s price hasn’t surged yet, the upgrade holds potential for a future rally similar to the Alonzo Hard Fork.
Following the innovative launch of Cardano Ogmios v6.4.0, we reported last month, Cardano has launched Node 9.1.0, which is crucial for the upcoming Chang Hard Fork upgrade. This node introduces the final version needed to implement on-chain decision-making within the Cardano ecosystem. The Dawn of the Chang Hard Fork Era is equipped with a crucial feature, the Conway genesis file, which differentiates it from the previous Node 9.0.0.
This launch was announced by Intersect on X and confirmed by Cardano founder Charles Hoskinson on his personal X account. The Chang Hard Fork upgrade, initially scheduled for the first half of 2024, is expected to significantly advance Cardano’s infrastructure and capabilities.
Good Afternoon Dinar Recaps,
Cardano Launches Node 9.1.0: The Dawn of the Chang Hard Fork Era
▪️ Cardano’s Node 9.1.0 launch is pivotal for the Chang Hard Fork, marking significant progress in on-chain decision-making.
▪️ While ADA’s price hasn’t surged yet, the upgrade holds potential for a future rally similar to the Alonzo Hard Fork.
Following the innovative launch of Cardano Ogmios v6.4.0, we reported last month, Cardano has launched Node 9.1.0, which is crucial for the upcoming Chang Hard Fork upgrade. This node introduces the final version needed to implement on-chain decision-making within the Cardano ecosystem. The Dawn of the Chang Hard Fork Era is equipped with a crucial feature, the Conway genesis file, which differentiates it from the previous Node 9.0.0.
This launch was announced by Intersect on X and confirmed by Cardano founder Charles Hoskinson on his personal X account. The Chang Hard Fork upgrade, initially scheduled for the first half of 2024, is expected to significantly advance Cardano’s infrastructure and capabilities.
From Intersect on Twitter
Node 9.1.0 is here!
The final version to bring on-chain decision making to Cardano is here. As with all hard-forks, Cardano upgrades when the community is ready.
SPO's ➡️ https://bit.ly/3ycXnVF
However, unlike the previous update, as discussed in the CNF earlier report, which drove ADA price up 10% as 159 projects launched on Cardano, accompanied by 9.62M native tokens and 84.2M transactions, this upgrade is still taking its time to hit the expected surge.
Previous upgrades like the Alonzo Hard Fork in 2021 had a substantial positive impact on ADA’s price, suggesting potential similar outcomes with the Chang Hard Fork.
The upgrade could potentially lead to a price rally, as it is expected to break the upper boundary of the wedge pattern. As of now, according to CoinMarketCap data today, Cardano (ADA) is trading at $0.3966, with a decrease of 2.47% in the past day and 5.75% in the past week. See ADA price chart below.
However, unlike the previous update, as discussed in the CNF earlier report, which drove ADA price up 10% as 159 projects launched on Cardano, accompanied by 9.62M native tokens and 84.2M transactions, this upgrade is still taking its time to hit the expected surge.
Previous upgrades like the Alonzo Hard Fork in 2021 had a substantial positive impact on ADA’s price, suggesting potential similar outcomes with the Chang Hard Fork.
The upgrade could potentially lead to a price rally, as it is expected to break the upper boundary of the wedge pattern. As of now, according to CoinMarketCap data today, Cardano (ADA) is trading at $0.3966, with a decrease of 2.47% in the past day and 5.75% in the past week.
UPDATE: Cardano is trading at $0.4232 today.
@ Newshounds News™
Read more: Crypto News Flash
~~~~~~~~~
Copper will be the investment of the decade? Kitco Live ‘Copper Masters Panel’ on August 22, 2024
(Kitco News) - Copper presents a generational investment opportunity. A looming supply crunch fueled by high demand required for the energy transition is elevating prices to record highs with a positive outlook for investors.
The copper market is expected to enter into deficit in the near-term, which is forecast to increase to 5-8Mtpa by the end of the decade as new demand gathers pace. Eergy transition applications and the power infrastructure required for the electrification of everything, data centers, and emerging markets such as India are all factors vying for dwindling copper supplies.
The positive market outlook has not garnered a corresponding supply response as few development projects are in the pipeline, and miners are risk-averse due to the increasing economic uncertainty, costs, and timescales of project development.
Hosted by Paul Harris, the ‘Kitco Copper Masters Panel’ will hear from industry leaders Robert Friedland, Kathleen Quirk, and Colin Hamilton discussing why copper may be the natural resources investment of the decade.
Join us live on Kitco Mining’s YouTube channel on Thursday, August 22, 2024, at 3PM ET / 12PM PST for the latest copper investment insights from these copper masters.
@ Newshounds News™
Read more: Kitco
~~~~~~~~~
Chinese Firm Boasts of Using Tether Stablecoin to Skirt Russian Sanctions
Chinese-owned import-export firm Qifa specializes in trade between China and Russia, a booming sector. According to Reuters, the company is now using the Tether stablecoin for cross-border payments because of sanctions affecting bank payments.
It’s possible that Qifa spoke to Reuters to boost the price of its IPO on the Moscow Exchange. However, that benefit could prove short lived. Several Russian companies featured in recent press reports have been the subject of sanctions shortly afterwards.
For instance, Reuters reported in April that the Shanghai branch of Russian bank VTB played a key role in facilitating money transfers between Russia and China. In the latest package of sanctions announced on 12 June, OFAC added VTB Shanghai to its sanction list. Within a week this caused problems with money reaching Chinese suppliers.
The reason for using VTB Shanghai is the threat of sanctions on Chinese banks. Hence, any Chinese banks willing to receive payments are smaller ones, and they conduct significant due diligence to ensure that any goods are not dual use for military purposes.
Meanwhile, the use of Tether as a settlement asset may be illegal in both countries. Reuters classed Tether as a Digital Financial Asset. That’s not the case.
Digital Financial Assets
Digital Financial Assets (DFAs) are a specific class of Russian digital assets, including tokenized gold, other commodities and factored invoices.
There’s a short list of firms that operate platforms approved to issue DFA tokens, and most of them have been sanctioned. Not only does Tether not run an approved DFA issuing platform, but stablecoins are not approved DFA assets.
Originally Russian legislation banned the use of DFAs for payment, but it recently passed a new law allowing them to be used for cross-border payments, precisely to skirt sanctions. Less than two weeks later more DFA issuers were sanctioned alongside some Russian cryptocurrency firms.
That means only those comfortable dealing with sanctioned entities would accept them. There are also practical hurdles we have previously explored.
Tether would be classed as a cryptocurrency rather than a DFA.
Russia is working on legislation to support the use of cryptocurrencies for cross-border payments. Even the central bank governor has agreed it’s a practical move, despite her misgivings about crypto. As of today, using Tether may not be legal in Russia, but the Russians would most likely turn a blind eye.
It’s far less clear that’s the case in China where the use of stablecoins such as Tether is not permitted.
@ Newshounds News™
Read More: Ledger Insights
~~~~~~~~~
BLOCKCHAIN and DIGITAL ASSET NEWS from Ledger Insights
▪️ LUXEMBOURG proposes relaxing DLT laws LINK
▪️ BNP Paribas hosts issuance of SLOVENIAs digital bond settled in CBDC LINK
▪️ JP Morgan-backed Ownera partners with Digital Asset’s Canton network LINK
▪️ Franklin Templeton planning digital-asset joint venture with JAPANs SBI LINK
@ Newshounds News™
~~~~~~~~~
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Thank you Dinar Recaps
Breaking Down the New BRICS Gold-backed Currency System in Detail
Breaking Down the New BRICS Gold-backed Currency System in Detail
On July 26, 2024 By Awake-In-3D
Learn about the construction, mechanics, benefits and real-world usage of this groundbreaking digital currency.
This is Part 2 of my article series exploring why the BRICS Gold-backed currency system is an inspiring model for our Global Currency Reset and Currency Revaluations (RV/GCR).
Breaking Down the New BRICS Gold-backed Currency System in Detail
On July 26, 2024 By Awake-In-3D
Learn about the construction, mechanics, benefits and real-world usage of this groundbreaking digital currency.
This is Part 2 of my article series exploring why the BRICS Gold-backed currency system is an inspiring model for our Global Currency Reset and Currency Revaluations (RV/GCR).
You can find Part 1 here: The BRICS UNIT: The Catalyst for a Revolutionary Global Currency Reset
It lays the foundation for the global adoption of gold and real assets to back sovereign currencies. The BRICS UNIT System’s greatest strength is its inclusiveness.
It’s not a closed, exclusive financial system meant only for BRICS Member Nations; it’s open to any country, BRICS Alliance Member or not. It even accommodates nations that continue to use a pure fiat currency system.
This flexibility to create exchange rate pairs between UNIT and fiat currencies opens exciting opportunities for our RV Currency Exchange.
In This Article
The Construction of the BRICS UNIT
Operational Mechanics of the UNIT
Who Will Use the UNIT
Real-World Applications of the UNIT
Benefits for International Business and Trade
Key Dates in the UNIT Rollout
The BRICS nations are on the brink of a financial revolution with the introduction of the UNIT, a gold-backed digital currency set to transform global transactions.
This comprehensive guide breaks down how the UNIT is built, its operational mechanics, user base, practical applications, benefits, and key milestones in its rollout.
The Construction of the BRICS UNIT
The UNIT is being intricately crafted as a gold-anchored, blockchain-enabled digital asset. Each UNIT is minted when participants deposit a mix of gold and BRICS currencies at designated blockchain nodes, ensuring intrinsic value.
This innovative design blends the stability of gold with the transparency and security of blockchain technology.
Legally anchored in the Budapest Convention, the UNIT ecosystem promises robust international legitimacy.
Drawing on advanced crypto-blockchain concepts from platforms like Ethereum and Bitcoin, the UNIT stands out with its unique focus on tangible value and economic stability.
Operational Mechanics of the UNIT
At the heart of the UNIT is a decentralized blockchain system that guarantees security and transparency. Nodes within this system independently mint UNITs by receiving deposits of gold and BRICS currencies, adhering to a standardized rule book to maintain integrity and trust.
Transaction costs within the UNIT ecosystem are expected to be significantly lower than those of traditional banking systems. This cost-efficiency, combined with the inherent stability of a gold-backed asset, positions the UNIT as a superior alternative for global transactions.
Who Will Use the UNIT
The UNIT is designed for a diverse user base, encompassing nations, businesses, and consumers. BRICS countries can utilize the UNIT for international trade, minimizing reliance on traditional fiat currencies and fostering economic cooperation.
Businesses, especially those engaged in cross-border commerce, will benefit from reduced fees and heightened security.
Consumers will also see value in using the UNIT for purchasing goods and services worldwide. The currency’s stability, underpinned by gold, offers a reliable and secure option compared to more volatile cryptocurrencies.
Real-World Applications of the UNIT
In practical terms, the UNIT is set to revolutionize international trade and finance. BRICS nations can leverage the UNIT to conduct bilateral trade, significantly lowering transaction costs and enhancing economic partnerships.
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Businesses can streamline their global transactions by using UNITs, circumventing traditional banking systems and avoiding cumbersome currency conversion fees.
For consumers, the UNIT provides a stable and cost-effective means to buy goods and services from international merchants, making global commerce more accessible and affordable.
Benefits for International Business and Trade
The UNIT offers substantial advantages for international business and trade. Its gold-backed nature ensures stability, mitigating risks associated with currency volatility.
The decentralized structure of the UNIT ecosystem promotes fairness and transparency, as no single country or central bank can exert control over the currency.
Participating countries enjoy monetary policy independence within the UNIT framework, allowing them to pursue their own economic agendas without the constraints of pegging their currencies.
This flexibility is particularly advantageous for countries with non-convertible currencies, enabling them to engage more freely in international trade.
Key Dates in the UNIT Rollout
The journey to launching the UNIT is marked by several pivotal dates:
August 2023: BRICS summit in Johannesburg where finance ministers were tasked with developing the UNIT.
June 2024: BRICS foreign ministers emphasized enhancing the use of local currencies, supporting the UNIT initiative.
September 2024: Special meeting of the New Development Bank (NDB) in Shanghai to evaluate the UNIT proposal.
October 22-24, 2024: BRICS leaders’ summit in Kazan, Russia, where final reports and decisions on the UNIT will be presented.
The Bottom Line
The BRICS UNIT represents a groundbreaking step forward in the evolution of digital currencies.
Combining the security of blockchain technology with the stability of gold, the UNIT is poised to become a powerful tool for international business and trade.
As we approach key milestones in its development, the global financial landscape is set for a transformative shift, promising exciting possibilities for fair, non-manipulated, and stable economies worldwide.
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Contributing Sources:
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