News, Rumors and Opinions Sunday AM 8-4-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Sun. 4 Aug. 2024

Compiled Sun. 4 Aug. 2024 12:01 am EST by Judy Byington,

As The Global Financial Bubble Popped
US Stock Market Collapsing
Banks Closing

It’s only wise to have at least a month’s supply of food, water, cash, medicine and essential items on hand for yourself, your family and to share with others in case of emergency.

Global Financial Crisis:

Sat. 3 Aug. 2024: BANKING CRASH – US Stock Market is Currently Collapsing! Dow Jones Industrial Average: The Pillars of a Corrupt System – Bubble, Crash, Steal, Lie, Repeat! – amg-news.com – American Media Group

Sat. 3 Aug. 2024 CBDC: The GM of The Bank of International Settlements (top of the tree of global banking) explains they can’t control the use of cash, but they can control digital currency! CBDCs will give governments total power over citizens if cash is discontinued.

Sat. 3 Aug. 2024 BRICS calls on the Middle East to stop using the US dollar for oil trade.

Sat. 3 Aug. 2024 Are the fiat currency financial system Domino’s ready to fall this coming week?

Warren Buffett has recently sold approximately 50% of his Apple shares, signaling a significant shift in his investment strategy.

Meanwhile, the NASDAQ has entered a correction phase, and the S&P 500 is only 4% away from a similar correction.

In contrast, gold prices have surged to a record high, reflecting growing economic uncertainty.

The U.S. Economy is now officially in a recession according to the Sahm rule, and economic forecasts predict four interest rate cuts in 2024 to combat the downturn.

Market volatility has increased dramatically, doubling in the last three weeks, while inflation remains stubbornly high.

Unemployment rates are also on the rise, adding to the economic woes.

Despite these challenges, billionaires who sold their assets at market peaks are seemingly untroubled.

It’s going to be a turbulent week ahead for the fiat currency financial debt system…. so break out the popcorn! https://x.com/grdecter/status/1819865369885933976?s=46&t=P2Ls81hs8j9RD7M6kNgOvw

Thurs. 1 Aug. 2024:

On Thurs. 1 Aug. the US stock market took a three trillion dollar hit.

In the 21st century the Stock Market has crashed in the years 2000, 2008, 2020 (Dot Com Bubble, Housing Crisis, and Covid Recession) (These were all election years)

War and a global recession is not farfetched. Pray. Keep your eyes peeled. Watch these things, but don’t let it consume you.

Read full post here:  https://dinarchronicles.com/2024/08/04/restored-republic-via-a-gcr-update-as-of-august-4-2024/

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

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

Militia Man  Everybody's pretty much pumped, pretty much excited because the news that's been coming in is off the charts.  Saleh has been out for the last couple of weeks educating everybody... reiterating why they do what they do...and how they do it.  Economists coming out talking about what they believe the Central Bank of Iraq is dealing with with the Federal Reserve Bank, United States Treasury.  You can see these guys are serious...

MarkZ & Militia Man   [via PDK]  MarkZ: Have you heard anything about Iraq’s ascension into the WTO?  Militia Man:  Iraq is going to need to trade cross-borders. The Iraqi dinar is not yet on the forex with a REER. (Real Effective Exchange Rate) With the Ayuscuda cross border system …I think it’s ready to go.  MarkZ:  I also think it’s ready to go. But how long can they go without a new rate? They have not published the budget tables yet…. I think they are hiding it because the new rate is in it to do all those new projects. 

ShelbyMac2.0, [From Mike Bara]

Today, a contact went to the bank (Big 4) to buy more currency. He was told by the manager, who acknowledges the RV, not to bother, because he would return to exchange in "two days."

The same contact was also told that "this week" the market would drop "2,000 points."     That's not enough to make an impact. I think he misheard and was told the market would drop TO 2,000 POINTS!! Don't forget, Andy Schectman predicted this in my interview with him two weeks ago. (link below

He said the US markets could drop to the value of Gold, which is around $2,454 an ounce.  

Also hearing the Crowdstrike hackers got access to the crash protection algorithms, and that when the plunge begins, they won't be able to halt trading. This is how it will be portrayed anyway.

https://mikebara.blogspot.com/2024/07/the-new-gold-standard-with-mike-bara.html

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

The LAST Layer Of Consumer Confidence Is BREAKING

Lynette Zang:  8-3-2024

In today's video we are discussing consumer sentiment, the massive dip in consumer trust and what that means for the economy and you...

https://www.youtube.com/watch?v=2kAy5nsYA18

“Financial System and Market Crash “News and Views” 8-3-2024

Bank Reserves: The Ghost Of Bad Debt | Rafi Farber

Liberty and Finance:  8-2-2024

For more than a decade, the Federal Reserve has effectively been propping up banks by replacing their toxic debt with new currency. According to Rafi Farber these bank reserves are akin to "the ghost of bad debt."

Farber anticipates an imminent crisis within the banking sector, which he predicts will precipitate a financial calamity surpassing the severity of those seen in 2008 or 2020.

In his analysis, Farber outlines strategies for preparing for this potential financial upheaval. He emphasizes the importance of diversifying investments, safeguarding assets in tangible forms, and staying vigilant about shifts in the financial landscape.

These measures are presented as crucial steps for investors to better position themselves against the expected crisis and minimize potential losses.

INTERVIEW TIMELINE:

 0:00 Intro

1:23 Bank reserves

 6:34 Big banks

 12:10 Impact of banking crisis

https://www.youtube.com/watch?v=_MF0HtDhEt8

‘Armageddon’ Here? Why Markets Are Crashing Right Now | Clem Chambers

David Lin:  8-2-2024

Clem Chambers, CEO of Online Blockchain, discusses the latest jobs report and the market response.

0:00 - Market reaction to jobs report

 5:50 - Yen/USD vs. stocks

7:35 - Will market crash continue?

11:00 - VIX

13:11 - Russell 2000

 14:50 - Market rotation

 18:10 - How to play 'uncertainty'

 19:40 - Rate cut vs. stocks

 27:10 – Bitcoin

https://www.youtube.com/watch?v=D9ntUrJ5VaQ

Ariel: Market Crash

People, Donald Trump has always stated for years that in order for emerging economies in the Middle East to thrive the artificial value of the fiat USD must come down. This is what is suppressing everything. A market crash will help facilitate the much needed reinstatement.

This is why countries around the world are waiting with bated breath for this event. Thus is why Saudi Arabia on June 9th no longer accepted oil contracts to be denominated in fiat USD.

Henry Kissinger was the one who flew over there to make that deal in exchange for military protection and other things.His death was a sign that the regime was coming to an end.

This is why Iraq is setting up their own trade routes to compete with the Suez Canal. Their market will have a robust trade connection to the Asian markets. Israel tried to prevent this at every turn. Which is why ISIS/DAESH was created to cause instability in Iraq.

Because in order for the monetary reforms to work certain conditions had to be met with IMF that required Security & Stability in Baghdad. This is why BRICS Nations must have a national currency in order to join. You guys have to understand how much the fiat USD have caused 3rd world countries who were forced to use it.

I’m getting off topic but you know what I am getting at. We need a market crash in order for Iraq to be able to afford to compete against 1st world countries. Luckily you have IQD where you will be able to participate in the reinstatement.

You already know what this means. I told you the fiat USD has to fall in order for developing economies to prosper. One of them is Iraq.

Ariel

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

Trillions Lost: Jobs Bombshell Triggers “Slow Motion Collapse” As US Recession Risk Escalates

Sean Foo:  8-3-2024

The US stock meltdown just got worse with over $3 trillion dollars destroyed. Investors are losing steam and the fundamentals of the US economy is cracking.

 The recent jobs report, massive layoffs and unemployment data just smashed the soft-landing narrative. We are in for a slow-motion collapse.

Timestamps & Chapters:

0:00 Stocks $3 Trillion Sell-Off

2:39 Jobs Shock & Massive Layoffs

5:43 Fed Rate Cut Nightmare

8:54 Big Market Collapse Risk

 12:03 The Risk Is Global

https://www.youtube.com/watch?v=mcV3Pkbfuf4

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 8-3-24

Good Afternoon Dinar Recaps,

WHAT IS THE STRATEGIC BITCOIN RESERVE?

"THE BITCOIN ACT of 2024, introduced by Senator Cynthia Lummis of Wyoming, seeks to firmly establish Bitcoin as a strategic asset in the United States’ financial arsenal. At its core, the Act proposes the creation of a Strategic Bitcoin Reserve (SBR) and a structured Bitcoin Purchase Program, and comprehensive national custody policy."

The Strategic Bitcoin Reserve (SBR)
"The establishment of the SBR signifies a paradigm shift in how the United States government manages and custodies Bitcoin at the Federal level. The SBR creates a decentralized network of secure Bitcoin storage facilities across the United States."

Bitcoin Purchase Program
"The Act lays out a plan to acquire up to 1,000,000 Bitcoins over a five-year period, capping purchases at 200,000 Bitcoins annually, and then holding such reserves for twenty years. Furthermore, the Act places limits on the use and sale of the reserve following the holding period.

 During the minimum holding period, no Bitcoin held by the Federal government in the SBR may be sold, swapped, auctioned, encumbered, or otherwise disposed of for any purpose other than retiring outstanding Federal debt instruments."

RE-READ THAT LAST STATEMENT- " or otherwise disposed of for any purpose other than retiring outstanding Federal debt instruments."

"It first proposes an amendment to the Federal Reserve Act to reallocate discretionary surplus funds from the Federal Reserve Banks. This reduces the discretionary surplus funds from $6.825 billion to $2.4 billion. The Federal Reserve is then required to remit net earnings to the Treasury, and the Act redirects the first $6 billion towards purchasing Bitcoin."

"Furthermore, the Act also involves an adjustment in the valuation of gold certificates held by the Federal Reserve. Currently, the Federal Reserve holds gold certificates which are marked at $42.22/oz, while the market price of gold is closer to $2,400 today.

Essentially, this forces the Federal Reserve to mark-to-market the gold certificates, then remit the gain on the gold to the Treasury for the purpose of funding the initial acquisition."

COULD THIS BE THE REVALUATION OF GOLD THAT WE HAVE BEEN LOOKING FOR?
REPRICING THE GOLD CERTIFICATES HELD BY THE US TREASURY AT THE NEW PRICE OF $2400/OZ

State Participation
The Act contemplates accepting State-level Bitcoin holdings into the national framework through voluntary participation. This aspect allows individual states to store their Bitcoin holdings within the SBR in segregated accounts.

By offering this option, the Federal government allows (but does not require) States to add Bitcoin to their own treasuries, without having to reinvent and reimplement a robust security plan.

States participating in the program maintain exclusive and segregated title to their Bitcoin, and the right to withdraw or transfer their Bitcoin holdings from the SBR, subject to the terms of their contractual agreement and any applicable Federal regulations, but are not subject to the Federal restrictions otherwise applicable to the SBR.

 This flexibility ensures that States can manage their Bitcoin treasuries in accordance with their specific financial strategies and needs.

Implications & Next Steps
"By tapping into existing financial resources and leveraging the economic value of gold, the BITCOIN Act aims to acquire Bitcoin without directly burdening taxpayers or increasing federal debt. This multifaceted approach underscores the innovative financial strategies the Act employs to integrate Bitcoin into the national reserve system, setting the stage for a comprehensive Bitcoin policy throughout all levels of the United States government."

@ Newshounds News™

Read more:  Bitcoin Magazine

~~~~~~~~~

Bank of England looks to update RTGS by exploring wholesale CBDC, synchronization

The central bank of the United Kingdom is proposing experimenting with a wholesale central bank digital currency (wCBDC) as it seeks to update its Real-Time Gross Settlement (RTGS) system.

Bank of England (BoE) announced the move in a discussion paper, titled “The Bank of England’s Approach to Innovation in Money and Payments.” 

Under this, the BoE promised to undertake a series of experiments within the next six months to examine wCBDC settlement compared to the “synchronization” of non-CBDC central bank money using the existing RTGS system.

RTGS is a fund transfer system that allows for the instantaneous transfer of money and/or securities between banks.  In the U.K., the RTGS system is called the Clearing House Automated Payment System (CHAPS). It’s operated by the BoE and used for high-value transactions.

The BoE has been consulting on an update to CHAPS since 2022. In February 2023, in its Roadmap for the Real-Time Gross Settlement Service Beyond 2024, the bank proposed “synchronization” as a possible solution to updating its RTGS system, which suffered a well-publicized crash earlier in July.

“We proposed to create a generic interface into RTGS which would allow a wider range of ledgers to connect to RTGS to synchronize transactions. Synchronization enables ‘atomic settlement’, which means linking the transfer of two assets in a way that one asset moves if and only if the other asset moves,” said the roadmap.

Wholesale CBDCs—digital versions of a country’s currency used by banks and financial institutions for large-scale transactions and settlements—offer another alternative to the current RTGS system, with 19 countries already piloting one.

Both synchronization and wCBDC depend on distributed ledger technology (DLT), a system that records transactions across multiple computers or locations.

In its July 30 discussion paper, the BoE argued that “further work is required to consider the respective roles these innovations might play in the Bank’s future toolkit. To inform this work, the Bank proposes a program of experiments to test the use cases, functionalities and prospective designs of both wCBDC and synchronization, and their relative merits.”

It added that these experiments would ideally assess the relative operational risk and complexity involved in using the two technologies and how different types of financial assets can best be represented on a digital ledger.

“This would help identify important ledger design considerations and inform later workaround interoperability,” said the discussion paper. “The experiments should also allow us to assess the scalability of the different approaches.”

In terms of its ultimate goal, the BoE set out three main outcomes it hopes to achieve from the experiments:

1.  Central bank money must keep pace with technological advances in financial markets and must be equipped with the functionality to support central bank money settlement of tokenized wholesale transactions;

2. Innovations in financial markets must be harnessed in a way that supports financial stability and monetary policy objectives. “If tokenization increases the efficiency and speed of post-trade processes, this could release liquidity and reduce settlement risk and cost in wholesale financial markets,” said the BoE;

3. The U.K.’s financial market infrastructure must remain at the forefront of developments in finance, including maintaining an appropriate level of interoperability with new DLT-based infrastructure.

@ Newshounds News™

Read more:  Coin Geek

~~~~~~~~~

2,200 letters of support for ‘Bitcoin Strategic Reserve’ bill sent to US senators

Senator Cynthia Lummis introduced the bill on July 31, which would direct the US government to start a reserve Bitcoin fund.

Over 2,200 letters were sent to United States senators in 48 hours urging them to co-sponsor and support Senator Cynthia Lummis’s newly proposed Strategic Bitcoin Reserve bill.

In a post on X, Lummis expressed gratitude for the support given to the Strategic Bitcoin Reserve bill.

Lummis, a prominent advocate for the crypto industry, introduced the Bitcoin Strategic Reserve bill on July 31. The bill aims to establish a national reserve of Bitcoin and position the US as a leader in the adoption and secure management of the world’s first cryptocurrency.

The proposed legislation would direct the US government to create a decentralized network of secure Bitcoin vaults managed by the US Treasury, ensuring strict cyber and physical security measures.

@ Newshounds News™

Read more:  Coin Telegraph

~~~~~~~~~

Peru inaugurates first CBDC pilot

Peru’s central bank has launched its first central bank digital currency (CBDC) pilot, selecting local telecom operator Viettel Peru as its partner.

The Central Reserve Bank of Peru announced the partnership recently but didn’t disclose any details about the pilot. Viettel is the local subsidiary of Vietnam’s state-owned multinational telecom operator Viettel Group, which started operating in Peru in 2014.

For Peru, a digital sol is the country’s attempt to digitize payments to enhance efficiency and cut costs. The government is also seeking to boost financial inclusion; according to the latest studies conducted two years ago, only half of Peruvians had access to formal financial accounts.

While this was a significant growth from 2014, when the World Bank revealed that only two in ten Peruvians were banked, it’s still relatively low for a country with a $242 billion gross domestic product (GDP). In stark contrast, 85% of neighboring Chile’s population is banked.

With close to half its population unbanked, Peru is heavily reliant on cash. According to the International Monetary Fund (IMF), high costs and insufficient digital infrastructure remain vital impediments.

IMF believes that a CBDC could eliminate many of the barriers to digital payments. However, the Latin American country would have to make some critical considerations, such as offering the digital solution via USSD, as a large portion of the population doesn’t own a smartphone.

It would also need to dissociate CBDC from the banking system, as the people who need it most don’t have bank accounts. In most countries, the CBDC wallet is linked to a bank account, allowing convenience, as customers can switch between the two easily. This allows the regulators to impose a holding cap—once a customer hits this threshold, the rest is converted to conventional bank deposits.

@ Newshounds News™

Read more:  Coin Geek

~~~~~~~~~

Sahm Recession Rule Trigger Alert 🚨

The Sahm Rule that is designed to signal the start of a recession has officially been triggered.  Since 1953, the Sahm Rule has NEVER been wrong!

@ Newshounds News™

Read more:  Twitter

~~~~~~~~~

Newshound's Daily Breakdown Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

“Tidbits From TNT” Saturday 8-3-2024

TNT:

Tishwash:  Prime Minister announces launch of five-year national development plan (2024-2028)

Prime Minister Mohammed Shia Al-Sudani announced today, Saturday, the launch of the five-year national development plan (2024-2028).

A statement by the Prime Minister's Media Office received by the Iraqi News Agency (INA) stated that "Prime Minister Mohammed Shia Al-Sudani announced the launch of the five-year national development plan (2024-2028)  link

Tishwash:  An economist likely to ease the sanctions imposed on Iraqi banks

 Today, Friday, economic affairs researcher Safwan Qusay suggested easing the sanctions imposed on Iraqi banks and making them financial only.

Qusay told Al Mada, “The Central Bank has contracted with an international company (K2) for the purpose of auditing banks that have restricted access to the dollar in previous periods, so that these banks can learn how to comply with international requirements.”

He added, "Everyone is keen on the process of stopping the use of Iraqi banks for the purpose of money laundering. The private Iraqi banks are not the owners of corrupt money, but rather there are those who acquire the Iraqi dinar illegally and are trying to use the banks for the purpose of money laundering and smuggling hard currency."

Qusay continued, “As for the restricted banks, they will be rehabilitated through merger, mitigation of these penalties, or making them financial penalties during the coming periods.”  link

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

Tishwash:  Parliamentarian explains: What is the relationship between the operating budget and hosting the new governors?

 Member of Parliament, Mohammed Al-Baldawi, said on Thursday that delaying the release of operational budgets was likely the reason for postponing hosting the new governors.

Member of the Parliamentary Planning Committee, Muhammad Al-Baldawi, said: “Hosting the new governors will not take place in the near future, as the absence of an operating budget prevents us from judging their performance,” indicating that “the operating budget has not yet been launched, which makes it difficult to evaluate the performance of the governors based on the projects that have been completed.”

And works.

Al-Baldawi explained that “the work of the Kirkuk and Diyala governorates is being disrupted due to the failure to resolve the issue of the council president in them, and until now the government has not received an evaluation of the governors’ performance,” noting that “there are ongoing problems in the Baghdad governorate and other governorates whose governments have not yet stabilized.”  link

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

Tishwash:  Reuters: Iraq still accounts for the largest part of OPEC's excess production

OPEC oil output rose in July on a rebound in Saudi supplies and small increases elsewhere, a Reuters survey showed on Friday, offsetting the impact of ongoing voluntary supply cuts from other members and the wider OPEC+ alliance.

The survey, based on shipping data and information from oil industry sources, showed that OPEC pumped 26.70 million barrels per day last month, up 100,000 bpd from June.

The increase comes despite the OPEC+ alliance, which includes OPEC and allies including Russia, maintaining most production cuts until the end of 2025 to support the market in the face of tepid demand growth, rising interest rates and increased US production.

A meeting of senior OPEC+ ministers on Thursday left oil production policy unchanged, including a plan to start unwinding a tranche of output cuts from October.

The ministers stressed that this increase could be temporarily halted or reversed if necessary.

The survey found that Saudi Arabia provided the biggest boost to supplies last month, by 70,000 barrels per day, as exports rebounded from June when they were lower than expected. Output reached 9 million barrels per day in July, close to the kingdom’s target.

The survey showed that Nigeria recorded the largest decline of 30,000 barrels per day, with exports declining on a monthly basis.

Libya and Iran, two members not required to cut output, along with Iraq, recorded slight increases. The survey found that Iran’s output reached 3.22 million barrels per day, the highest since 2018, according to Reuters surveys.

Iran has boosted its exports in recent years despite continued U.S. sanctions. Iraq’s output has risen as exports have increased month-on-month, oil flow data and a tanker-tracking source showed.

The survey also said that OPEC exceeded the target assumed for the nine countries covered by the supply reduction agreements by about 240 thousand barrels per day, and that Iraq still represents the largest part of the excess production.

The Reuters survey aims to track supply to the market and is based on shipping data provided by external sources, flows data from the London Stock Exchange Group, information from firms that track flows, such as Petro-Logistics and Kpler, and information provided by sources at oil companies, OPEC and consultants.  link

 Mot: ... I'm so old 

Mot: Yahoooooooooooooo!!! -- This is It!!! 

Seeds of Wisdom RV and Economic Updates Saturday Morning 8-3-24

Good Morning Dinar Recaps,

US REJECTS VIETNAM'S Request to Lift ‘Non-Market Economy’ Tag

THE QUESTION REMAINS HOW WILL THIS NEWS AFFECT THE VALUE OF THE VIETNAMESE DONG

" The Biden administration rejected Vietnam’s request to be classified officially as a “market economy,” a setback for the country’s efforts to boost exports to its most important market."

"The trade-dependent Southeast Asian economy has pressed the administration to revise the status since the upgrade in diplomatic ties during a visit by President Joe Biden to Vietnam in September last year."

"The “non-market” economy label mainly works against Vietnam when the US applies anti-dumping complaints. A change would have been a signal of closer ties at a time when the US is seeking to bolster relationships in the region as a counterweight to China. "

"Vietnam, which has signed numerous free trade agreements, is making greater access to the US market a priority. Its total trade — exports and imports — is equivalent to about twice the size of its economy."

@ Newshounds News™

Read more:  MSN

~~~~~~~~~

Bitcoin: El Salvador makes CRYPTOCURRENCY LEGAL TENDER

"Congress approved President Nayib Bukele's proposal to embrace the cryptocurrency, with 62 out of 84 possible votes on Tuesday night.
The president said the government had made history, and that the move would make it easier for Salvadoreans living abroad to send money home.
Bitcoin will become legal tender, alongside the US dollar, in 90 days.

The new law means every business must accept Bitcoin as legal tender for goods or services, unless it is unable to provide the technology needed to do the transaction."

""It will bring financial inclusion, investment, tourism, innovation and economic development for our country," President Bukele said in a tweet shortly before the vote.
He has previously said the move will open up financial services to the 70% of Salvadoreans who do not have bank accounts."

NOTE: THIS ARTICLE IS FROM 2021. BITCOIN IS BEING USED AROUND THE WORLD TO BRIDGE THE GAP WHERE LOCAL CURRENCIES ARE SEVERELY DEPRESSED

@ Newshounds News™

Read more:  BBC

~~~~~~~~~

Indonesia preps second stage of wholesale CBDC trials

Today Bank Indonesia published its Indonesian Payment System Blueprint (BSPI) 2030. One of the five major initiatives is its central bank digital currency (CBDC) work, THE DIGITAL RUPIAH.

It previously announced three stages of its proof of concept CBDC work. The first is the basic issuance and redemption of a wholesale CBDC (wCBDC) using DLT, which was completed during the first half of 2024. Secondly, it plans to explore the integration of a wCBDC with a digital securities ledger. Thirdly, it will use the wCBDC as a foundation for a retail CBDC.

While today’s paper provides an update, and reiterates the three phases first outlined in 2022, there is a subtle change in emphasis towards the wCBDC. For example, now the third phase following the wCBDC digital securities work will focus on wCBDC for cross border payments.

Notably, Bank Indonesia is an observer on the mBridge cross border CBDC initiative that uses wCBDC. mBridge recently entered the minimum viable product (MVP) phase with its initial participants, including the BIS Innovation Hub and the central banks of China, Hong Kong, Thailand and the UAE. Saudi Arabia recently joined and there are at least 22 observer banks.

@ Newshounds News™

Read more:  Ledger Insights

~~~~~~~~~

The Philippines chooses Venom for a groundbreaking national blockchain initiative

Manilla, Philippines, 1 August, Chainwire – Venom Foundation is proud to announce a historic agreement with the government of the Republic of the Philippines to digitize billions of accountable forms using its advanced blockchain technology.

Landmark opportunity and global significance

This initiative represents a pivotal milestone for Venom and the broader crypto industry. In what could end up as the world’s largest blockchain use case, this project underscores Venom’s leadership and innovation in the blockchain space.

By betting on Venom, the Philippine government demonstrates unprecedented trust and confidence in blockchain as a secure, scalable, and efficient solution for national-level operations. 

This move is poised to revolutionize the way governments and large institutions handle data, transactions, and record-keeping, setting a new standard for transparency and efficiency. 

This breakthrough project not only elevates Venom's standing but also sets the stage for other governments and sovereign nations to adopt the same kind of forward-thinking.

Project scope and impact

The Philippines is making a significant leap forward by launching an ambitious project to use Venom technology to digitize approximately ten billion accountable forms such as but not limited to invoices or receipts, cash tickets, documentary stamps, and special bank receipts, individually identified, accounted for, and afforded appropriate security. 

This initiative marks a new phase in the country's digitalization journey and promises to revolutionize financial operations.

The project is expected to significantly enhance transparency, reduce costs, and improve the efficiency and security of financial transactions across the nation. With a population of approximately 115 million, the impact of this digitization effort will be far-reaching, touching every aspect of daily life and commerce in the Philippines.

@ Newshounds News™

Read more:  Coin Telegraph

~~~~~~~~~

Russia approves law on legalizing cryptocurrency mining

Requirements for the activities of individuals and legal entities mining digital currency, including participants in mining pools, as well as for individuals organizing their activities, will be established by the Russian Government in coordination with the Bank of Russia

Only Russian legal entities and individual entrepreneurs included in a register will have the right to mine. Individuals who do not exceed the energy consumption limits set by the Russian government will have the right to mine digital currency without being included in the register.
  

@ Newshounds News™

Read more:  TASS

~~~~~~~~~

WHO SETS THE RATES? Common questions about CURRENCY EXCHANGE RATES

"Who's in charge of setting currency exchange rates? If you've ever sent money overseas or checked the rates, this is a question that may have definitely crossed your mind. Who decides what is the value of money, and why do rates fluctuate that much during the day?"

"Every country in the world has its own currency, and each of these currencies is valued differently. When you exchange one currency for another, you're actually buying money, just in a different currency than the one used in your country."

"The exchange rate tells you how much the currency used in your country is worth in foreign currency. The rates CONSTANTLY CHANGE for some countries, whereas others use FIXED exchange rates.

 As a rule of thumb, a country's social and economic outlook is the main factor that influences the currency exchange rate."

"Most countries have variable currency exchange rates, which are determined by the foreign exchange market. Because these rates are flexible, they fluctuate every minute, often influenced by market movements, political events, economic forecasts, and more."

"Countries such as the U.S., the United Kingdom, Canada, Japan, and Mexico all use flexible exchange rates. It's important to note that even though government policies can influence currency exchange rates, the government can't actually regulate them. The rates are always determined by Forex traders on the foreign exchange market."

"Several countries use FIXED CURRENCY RATES, and that is because the government dictates when the rates change. This is the case for the Saudi Arabian RIYAL, for example. The fixed rates are pegged to the U.S. dollar, and the central bank in the countries that use this system holds U.S. dollars to keep the rate fixed. "

"The market forces of supply and demand are the main factors that determine currency exchange rates. The level of demand for a currency determines its value in relationship with other currencies. "

@ Newshounds News™

Read more:  Xe

~~~~~~~~~

North Carolina lower chamber overturns governor’s veto of CBDC ban

The bill received strong support in the General Assembly. Now, the state Senate will consider overturning the veto.

There is still hope for the bill passed by the North Carolina General Assembly banning the American state from testing or accepting a United States central bank digital currency (CBDC) after the state House of Representatives overturned the governor’s veto. If the state Senate follows suit, the bill will go into force.

The bill passed both chambers of the state legislature in overwhelming bipartisan votes on June 26. The state’s General Assembly is dominated by the Republican party, which has shown strong opposition on the state and national levels to the introduction of a US CBDC. The veto override has already been passed to the Senate Committee on Rules.

More support for the ban than the override
Democratic Governor Roy Cooper vetoed the bill on July 5. Only two Democratic lawmakers voted in favor of overturning the veto, while 40 reversed their stance in the passage of the bill.

@ Newshounds News™

Read more:  Coin Telegraph

~~~~~~~~~

US Senator Officially Introduces BITCOIN Act to Establish Strategic BTC Reserve

"U.S. Senator Cynthia Lummis has officially introduced the BITCOIN Act in the Senate, aiming to establish a strategic bitcoin reserve as an additional store of value to strengthen America’s balance sheet. The initiative seeks to position the U.S. as a leader in financial innovation by proposing the purchase of 1 million bitcoins and ensuring robust security measures."

"U.S. Senator Cynthia Lummis (R-WY) announced on Wednesday that she has OFFICIALLY INTRODUCED the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act in the U.S. Senate. She unveiled the bill at the recent Bitcoin Conference in Nashville, Tennessee."

"Describing her bill as a “historic proposal to supercharge the U.S. dollar and pay down the national debt by establishing a strategic bitcoin reserve,” Senator Lummis stated:"

"“This is our Louisiana Purchase moment that will help us reach the next financial frontier,” the lawmaker opined.

"Lummis’ BITCOIN Act aims to secure America’s financial future by incorporating bitcoin into the national balance sheet. It proposes the creation of “a decentralized network of secure bitcoin vaults operated by the United States Department of Treasury with statutory requirements ensuring the highest level of physical and cybersecurity for the nation’s bitcoin holdings,” the lawmaker described."

"This legislation will oversee the implementation of “a 1-million-unit bitcoin purchase program over a set period of time to acquire a total stake of approximately 5% of total bitcoin supply, mirroring the size and scope of gold reserves held by the United States,” Lummis noted.

The plan will be funded by reallocating resources within the Federal Reserve System and the Treasury Department, ensuring robust cybersecurity and physical security measures.

The act also upholds the self-custody rights of private bitcoin holders, with Senator Lummis emphasizing that the reserve will not compromise individual financial freedoms."

@ Newshounds News™

Read more:  Bitcoin

~~~~~~~~~

Number of Banks in the U.S. – How Many Are There?

"There are currently 4,844 insured commercial banks, according to the Federal Deposit Insurance Corporation (FDIC)."

"The FDIC’s count does not include credit unions. The National Credit Union Administration insures credit unions and tracks them separately. It also doesn’t include fintech apps that aren’t chartered as banks or directly insured by the FDIC. However, fintech apps that accept fiat money deposits (old-fashioned U.S. dollars rather than cryptocurrencies) generally partner with banks that have national charters and FDIC insurance."

"Since the 1980s, the Number of Banks in the U.S. Has Declined"

"The FDIC began counting the number of commercial banks in 1934. That year, 14,146 commercial banks were operating in the United States. That number didn’t change much for the next 50 years. After a low of 13,114 in 1959, the U.S. commercial bank count climbed to an all-time high of 14,469 in 1983.

 The following year, the FDIC began tracking the number of savings banks. The inaugural count was 3,550, for a total of 17,810 commercial and savings banks in the United States."

"The U.S. population nearly doubled from 1934 to 1984, so while the number of U.S. banks per capita declined during this period, the industry appeared more or less stable. In other words, new banks formed about as quickly as old ones failed or merged."

"Then, in the mid-1980s, something changed."

"The number of active banks in the U.S. dropped by nearly 6,000 in just 10 years, from 17,754 in 1986 to 11,929 in 1995. This drop coincided with the savings and loan crisis of the late 1980s when thousands of smaller banks went belly-up as real estate prices and mortgage origination activity declined."

"Three factors explain the decline in the number of banks operating in the U.S.: bank failures, bank mergers, and the lack of new banking charters."

@ Newshounds News™

Read more:  Money Crashers

~~~~~~~~~

Newshound's Daily Breakdown Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

News, Rumors and Opinions Saturday AM 8-3-2024

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. 3 Aug. 2024

Compiled Sat. 3 Aug. 2024 12:01 am EST by Judy Byington

On Fri. 2 Aug. 2024

All Financial Markets Were Crashing

US Officially Declared To Be In A Recession

(Possible) Worldwide EBS Activation and Internet Down on Tues. 6 Aug. 2024.

Global Currency Reset: (Rumors/Opinions)

Fri. 2 Aug 2024 Wolverine, Charlie Ward: “I’ve had multiple confirmations everything in Israel, Iran & Venezuela is already done & settled. Now @charliewardshow confirms it too. …the RV has started in general. We are going to have a beautiful week. Get ready. Any day I’ll get that call and then you won’t hear from me anymore. ”

Fri. 2 Aug. 2024 Banker: “Well folks never have suggested dates or rates but I am really looking forward to this weekend.  GOD Bless everyone.”

Fri. 2 Aug. 2024 TNT:

On Wed. 31 July they were on High Alert. They are still on High Alert. Someone said between now and Sunday.

The Wealth Managers say up to Tues., but they are scheduled to work this Sunday.

All rates are on screen. Everyone is educated.

The banks have been notified they will be working the weekend.

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

Global Financial Crisis:

Fri. 2 Aug. 2024: Nearly $3 trillion has been eliminated from major indices and stocks this morning due to escalating fears of a global recession. This marks the most severe day for stocks since March 16, 2020, amid the height of COVID-19 pandemic concerns. Today’s Unemployment Rate reading of 4.3% has officially triggered the Sahm Rule, indicating that we have already entered a recession.

Fri. 2 Aug. 2024 Dallas Texas: Banks stocks today were taking a pounding, just checked my list of almost 50 banks and they are all down. The BIG RED WAVE IS COMING TODAY. …Ginger’s Liberty Lounge on Telegram

Fri. 2 Aug. 2024 Robert Kiyosaki Predicts Historic Market Crash That Could Massively Drag Down Real Estate Prices | IBTimes UK https://www.ibtimes.co.uk/robert-kiyosaki-predicts-historic-market-crash-that-could-massively-drag-down-real-estate-prices-1725909

Intel shares open down 27% as US stocks fall on jobs data: https://insiderpaper.com/intel-shares-open-down-27-as-us-stocks-fall-on-jobs-data/

Two and Ten Year Treasury Yields Are Diving Straight Down: https://x.com/kathyjones/status/1819352392195838319?s=46&t=KbeHKcWo9iYbqqIySY5EJA

~~~~~~~~~~

Fri. 2 Aug. 2024 It’s Happening: Japan’s Financial System Now Facing a No-Win Scenario as Investors Sell-Off $10.6 Billion. Japan is at a breaking point of economic collapse. What will happen next? Here’s the harsh reality facing the nation’s financial system. https://ai3d.blog/its-happening-japans-financial-system-now-facing-a-no-win-scenario-as-investors-sell-off-10-6-billion/

Japan as the Linchpin To Crash The Market:

Yen Carry Trade: Japan has been offering very low interest rates for a long time. Investors borrow money in Japan (Yen) at these low rates and invest it in other countries where they can get higher returns. This is known as the Yen carry trade.

Inflation and Interest Rates: Recently, Japan has been facing inflation, which means the prices of goods and services are going up. To combat inflation, the Bank of Japan (BOJ) might decide to raise interest rates.

Impact on Carry Trade: If the BOJ raises interest rates, it becomes more expensive for investors to borrow money in Japan. This could lead to a situation where investors start selling their investments in other countries to pay back their loans in Japan.

How This Collapses the Market

Short Squeeze: When investors start selling their investments to pay back their loans, it can cause a short squeeze. This means that the value of the Yen starts to rise quickly because there’s a sudden demand for it.

Global Margin Call: The sudden selling of investments can lead to a global margin call. This is like a chain reaction where one investor selling causes others to sell, leading to a widespread sell-off in the markets.

Flight to Safety: In times of market uncertainty, investors often move their money into safer assets like U.S. Treasuries, gold, and the U.S. dollar. This can cause these assets to rise in value while riskier assets like stocks fall.

Economic Impact: The sell-off in the markets can have a ripple effect on the global economy. Companies may struggle to raise capital, consumer confidence may drop, and economic growth could slow down.

SO NET NET:

Japan is the linchpin because its actions can set off a chain reaction in the global financial markets.

If the BOJ raises interest rates to combat inflation, it could lead to a short squeeze in the Yen, causing investors to sell their investments in other countries.

This sell-off could trigger a global margin call, leading to a collapse in the markets as investors rush to safer assets. The economic impact of such a collapse could be significant, affecting companies, consumers, and overall economic growth.

Fri. 2 Aug. 2024 Market Crash: (These are considered “Possibilities”)

There will be a liquidity and credit crisis as banks and online payment systems are about to suffer a huge outage in Europe and the United States. There are already talks of a liquidity and credit crisis happening in inner circles. This is big.

Saturday– Banks and online payment systems will suffer an outage in Europe and the United States spreading worldwide. Talks of a Liquidity and credit crisis happening will spread rapidly.

Sunday– Customers will try to get money from banks but will be turned away. Talks of bank runs on twitter and Facebook will be promptly banned. Late-Sunday night Euro-zone banks will suffer a liquidity issue and fail critical margin levels.

Monday 26th – Liquidity crisis contagion will spread to the United States. Financial instruments much like those used by Archegos will blow up across the entire financial sector. Bank of America, JP Morgan, and Goldman Sachs are rumoured to be insolvent along with others. The Super Rich will attempt to pull their money out of the banks only to be denied. Stock market will drop 20% and is closed for the day. Tether and other stable coins will fail causing crypto currencies to crash as they become illiquid. Short-Mid term is that crypto currencies will become worthless.

Tuesday– Eurozone total melt down. Bank deposits are bailed and most people will lose all their money. Social protests erupt. U.S. stock market will drop another 20% before being halted for the day again. Hedge funds will collapse and banks are stuck with meme stock shorts which will be revealed to be in the trillions. Banks fail critical margin levels and the DTCC will be forced to cover the shorts. DTCC insurance policy will fail as the insurers never had money to begin with and the Federal Reserve is stuck with the bag.

Wednesday– Stock market will drop another 20% before getting stopped. Subprime finally hits and housing prices crash by 50% and more. Meme stock, silver, gold, commodity trading is frozen and halted but this will only make the problem worse. Dollar insolvency is all over international news, while silver and gold skyrocket. U.S bonds will be dumped sending interest rates into the stratosphere. Mainstream media will now blare the Great Depression 2.0 and the collapse is here.

Read full post here:  https://dinarchronicles.com/2024/08/03/restored-republic-via-a-gcr-update-as-of-august-3-2024/

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

Jeff   Iraq has to tell you they don't have plans to revalue the currency this year because they're getting closer to the finish line.  They have to show news that suggests they won't be revaluing their currency...

Frank26   Article:   "Alia Nassif: The Central Bank's policy is pushing Iraqi banks towards execution!"  What would the central bank's policy be?  The monetary reform...The Central Bank of Iraq is telling the Iraqi citizens that we are in favor of removing certain banks from our country.  Why?  Because they don't want to go along with a monetary reform because they keep delaying the process of Sudani bringing out the new exchange rate and lower notes.

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

Impressive News & Progress for VND, Zimbabwe and Iraq

Edu Matrix:  8-2-2024

Impressive Breaking News for VND Zimbabwe and Iraq - Iraq's New Metro System, VND Increasing in Value Against the USD, and Zimbabwe Pays IMF.

https://www.youtube.com/watch?v=XbJdmJr5EXQ

More News, Rumors and Opinions Friday Afternoon 8-2-2024

Ariel Friday Update:

800 stocks down by 5%? This is a prime indicator that once things pop off with Iran & Israel we will get a market correction like we have never seen.

Then as the WTO stated the world will anticipate Iraq to come to the rescue and bring confidence back to the global trade market by reinstating the Iraqi Dinar and everything from that point will be based on REAL VALUE.

Then this is when you will unprecedented liquidity.

Mike Bara UPDATE:

Here is the situation as I understand it, Friday morning 8/2/2024.

"They" are still processing German historic bonds. They are finding many fakes. They have a quota to meet for "real" authentic German bonds before they can move onto the Chinese (Dragon) bonds.

"They" (UST) expect that threshold to be reached sometime this weekend. Once "They" move to Dragon bond payouts, that's when the "bondholder" should receive his commission.

That's when we're on, because my understanding is that is the "end" of Tier 3 and Tier 4a. None of this is connected to the revaluation of the Iraqi Dinar, which could still happen anytime.

 UST is said to want that to happen imminently. The Cabal is broke and needs the influx of funds from Tier 4 to continue the war.

 But the reality is the war is all but over. I suggest you think of this terms of World War II. It's late 1944. The Battle of the Bulge (Trump assassination attempt) has just failed. The Germans have been driven back to the Rhine, and it's only a matter of time before Patton gets across and finishes the job.

TNT Tony's 48-hour window has passed. Let's see if he has any new or corroborating information on his call today. That's where we're at. At least as far as I can tell. — Mike

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

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

Mnt Goat    ...recent articles from Iraq tells us the Iraqi government is taking steps to correct...issues and what needed reforms are still necessary... The nature of the reforms tells us they would have to be already started...Don’t think this is going to be a long, long process but certainly not days, maybe more like months...We must not discount all the reforms already accomplished...the Feds are now stepping in and trying to move the country steps further. Yes, they are shaking it up...So, this is all VERY good news and we should be happy to see it playing out...Everything is going to come together and it will happen suddenly.

Militia Man  Article quote "Imminent opening of the bank's new building"  Imminent opening of the central banks' building.  It's scheduled for the end of this year, which is a few months, or the beginning of next year, which is  still not too far from a few months... Quote "...38 floors with offices, meeting rooms, storage places of fortified money and  gold."  I love that part... Quote "The opening of the central bank building will be accompanied by a very large ceremony..."  It's  going to a pretty big deal...Construction...started in 2018.  It's been almost 6 six years.  

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

TNT:

Tishwash:  Iraq Arrests Another Suspect Involved in ‘Heist of the Century’

The Iraqi Integrity Commission has announced the arrest of a suspect linked to the "heist of the century," with gratitude extended to the Kurdistan Region's Ministry of Interior for their assistance in arresting the individual.

Without disclosing the suspect's name, the commission confirmed the arrest of a key figure in the high-profile theft case, praising the collaborative efforts of both the federal government's Interior Ministry and the Kurdistan Regional Government (KRG).

Four additional defendants, already suspended by the High Criminal Court, were part of the former government of Prime Minister Mustafa al-Kadhimi and are implicated in the case.

According to Iraqi officials, the charges against these individuals stem from their involvement in extracting approximately $2.5 billion in cash from the General Tax Authority. This sum, lost between September 2021 and August 2022, represents a significant amount of money in a country that consistently ranks among the world's most corrupt.

The "theft of the century" has been described as the disappearance of $2.5 billion in tax revenue, shedding light on the extent of corruption within Iraq's financial systems.  link

Jim Willie: How BRICS Are Approaching The Silver Market

Arcadia Economics:  8-1-2024

As the BRICS move forward their efforts to de-dollarize away from US financial infrastructure, where does that leave the silver market?

 Especially in an environment where the industrial demand continues to grow and leave the silver market in a persistent deficit?

Fortunately Dr. Jim Willie checks in to talk about what he's seeing and hearing in the silver market, including speculation of a South American OPEC-like silver cartel.

 It's an interview with Jim Willie that you won't want to miss. So click to watch the video now!

https://www.youtube.com/watch?v=4yumZ1liuhw

WARNING: (Take Action Now). THE MOST DESTRUCTIVE BANKING CRISIS EVER IS NOT FAR OFF.

Greg Mannarino:  8-2-2024

https://www.youtube.com/watch?v=W8WVFTXKExo

News, Rumors and Opinions Friday AM 8-2-2024

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. 2 Aug. 2024

Compiled Fri. 2 Aug. 2024 12:01 am EST by Judy Byington

Judy Note: The Petro Dollar recently became officially defunct as China, Russia, India and the Middle East abandoned the fiat US Dollar, refusing to sell oil to the US.

The creation of the Federal Reserve in 1913, in tandem with the development of the tax-exempt foundation and the creation of the IRS, set the stage for a 20th century defined by elite control of lower-class labor. 

Thurs. 1 Aug. 2024 Mr. Pool on Telegram: The Alliance Plan

NESARA/GESARA Debt Relief Implementation

The Military will provide the masses with the food they need.

QFS implemented

There will be a 95% reduction in government structure

The Federal Reserve is officially dead.

The IRS is under new US Treasury Department with a new tax system where only a 14% tax is charged on new items, no taxes on food or medicine, salaries, used houses or cars, etc.

~~~~~~~~~~~

Global Currency Reset:

Thurs. 1 Aug. 2024 Bruce, The Big Call The Big Call Universe (ibize.com)  667-770-1866, pin123456#

Last night Wed. 31 July there was a celebration dinner in Reno with bank and intake managers

Several confirmations pointed to this going by notifications tomorrow Fri. 2 Aug. after Markets closed and/ or Saturday 3 Aug.

Appointments could happen Fri., Sat or Sunday 4 Aug.

Redemption Centers will be open on Sunday 4 Aug.

~~~~~~~~~~~

Thurs. 1 Aug. 2024 Wolverine: “Sources say that Reno has started and were paying out 1% to certain platforms. The Precatorious Platform has been released. Hopefully we will be celebrating tomorrow Fri. 2 Aug. 2024.”

 ~~~~~~~~~~~

Global Financial Crisis:

Thurs. 1 Aug. 2024 Argentina: Where Did Argentina’s Gold Go? Argentina is facing a small problem. Somewhere, 62 tons of gold worth $4.5 billion, the country’s entire gold reserve, have gone missing. The government reluctantly disclosed that the Argentine gold was loaded onto British Airways charters and sent to London. The erratic president Javier Milei, before entering politics, worked at the British bank HSBC. Remember how in November 2023 all of Argentina celebrated Milei’s victory?

Five months before his assassination, President John F. Kennedy issued this executive order that would give the American currency back to the people by printing money based on a silver standard, taking away the power of the Federal Reserve Banking Cartel. Many argue this is the reason that JFK was assassinated.

Deep State Cabal CBDC non-asset backed digital currency financial system: “There will be control.” European Central Bank president, Christine Lagarde, admits the EU’s new CBDC—the digital euro—will be used to exert control. EU citizens already face imprisonment or fines for participating in cash transactions above €1000, but the introduction of the digital euro will enable financial totalitarianism on a scale that would make even George Orwell wince.

Read full post here:  https://dinarchronicles.com/2024/08/02/restored-republic-via-a-gcr-update-as-of-august-2-2024/

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

Jeff   They haven't implement their budget yet because they're waiting for the rate to change.  Everything in Iraq...the budget, the laws, the overturning the budget, everything out there is being stalled and delayed to be timed with the rate change.

Walkingstick   [Iraqi bank friend Aki update]  AKI:  I got a phone call...Monday and the phone call is telling me to do something...Sudani and his staff/administration along with the CBI, they are reaching out to ex-patriots of Iraq...that left Iraq back in 2003.  We're dealing with teachers, scientists, bankers, economists, doctors...In 2003 when Saddam ...caused these brilliant people...of Iraq to leave...This was called the brain drain.  The brain drain effect will now be replaced because of what Sudani is doing with these ex-patriots.  [Post 1 of 2....stay tuned]

Walkingstick   He is painting a bright picture to all that left Iraq to come back.  He is explaining to them you will be receiving new lower notes, new currency...a new value that will give you purchasing power...Your businesses, investments in our country are now well protected.  Sudani tells the ex-patriots around the world you can now make a living in Iraq...Sudani is calling them home. He's reaching out to them through the internet...He's really doing it by word-of-mouth.  News travels at a faster pace from person to person... WALKINGSTICK:  Sudani is calling his people back and then he doesn't do the monetary reform?  No.  Not likely!  [Post 2 of 2]

**********

'Slow Motion Fiscal Crisis' As U.S. Debt Hits Record $35 Trillion | Lyn Alden

David Lin:  8-1-2024

Lyn Alden, Founder of Lyn Alden Investment Strategy, discusses the U.S. fiscal situation, monetary policy update, and asset allocation for the remainder of 2024.

0:00 – Intro

1:00 - Labor market

 3:28 - Fed rate cut

13:13 - Sovereign debt crisis?

15:39 - Bond market

18:20 - Small-cap rotation

 20:05 - AI investment themes

24:47 - Copper

27:00 – Bitcoin

 30:30 – Liquidity

 33:58 - $35 trillion in debt

40:09 - Federal interest payment

43:00 - China's holdings of U.S. Treasuries

46:20 - Yen and BoJ

48:36 - Housing market

https://www.youtube.com/watch?v=VX3iBRyf14M

“Tidbits From TNT” Friday Morning 8-2-2024

TNT:

Tishwash:  Pentagon: Within 72 hours, Iran and its allies will launch a large-scale attack on Israel

CNN, citing the Pentagon, reported on Thursday that Iran and its allies will launch a large-scale attack on Israel within the next 72 hours.

Senior American officials say they expect the upcoming Iranian attack to be very similar to the Iranian attack last April 13 - but on a larger scale - because it is likely to also include the intervention of Lebanese Hezbollah, which did not participate in the previous attack.

Senior officials in President Joe Biden's administration fear that since the context this time is the assassination of a Hamas leader in Tehran and not an Iranian general in Damascus, it may be difficult for them to mobilize the same international and regional coalition of countries that stopped the previous Iranian attack.

Last Wednesday, US intelligence services began receiving clear indications that Iran will respond, according to an American official.

Iran had held an emergency meeting of the Supreme National Security Council following the assassination of Haniyeh in Tehran, accusing Israel of the assassination and threatening a harsh response. This coincided with the assassination of Hezbollah leader Fouad Shukr in an Israeli raid hours before Haniyeh's assassination.  link

Investment reveals the location of the first economic city in Iraq

The National Investment Commission revealed, today, Friday, the location of the first economic city in Iraq, while indicating that economic cities represent investment portfolios capable of attracting and bringing in local and foreign capital.

Hanan Jassim, spokeswoman for the National Investment Commission, told the Iraqi News Agency (INA): "The head of the National Investment Commission, Haider Mohammed Makiya, during his meeting in the presence of committee members and representatives of the ministries and relevant sectoral bodies in Maysan Governorate

Called for the importance of intensifying efforts and coordinating them in a detailed and precise manner that contributes to creating a realistic vision and a successful announcement for investors, businessmen and companies wishing to undertake this type of investment."

She added that "the attendees were informed of the full borders of the regions distributed according to the projects to be established and the ownership of the lands with the possibility of expanding some of them," indicating that "it was agreed on the importance of preparing a clear map of road networks, water and electricity sources and other requirements for granting investment licenses for these projects, which will be among the topics and discussions of the upcoming meetings."

Jassim pointed out that "the committee's work witnessed the presentation of a number of proposals and ideas that support the implementation of such projects, based on the Prime Minister's approval of the minutes and recommendations of the Diwani Order Committee (23674), which decided to form the Higher Committee for the Economic Development and Advancement of the Al-Tayeb Area in Maysan Governorate and its Neighboring Areas

Headed by the Chairman of the National Investment Commission and the membership of various state bodies, including the Governor of Maysan, the Chairman of the Maysan Investment Commission, the Chairman of the Industrial Cities Authority in the Ministry of Industry and Minerals, in addition to a number of general managers in the Ministries of Finance, Planning, Oil and Education and a representative of the Prime Minister's Office."

Jassim explained that "the Higher Committee for the Development and Advancement of the Al-Tayeb Area in Maysan Governorate and its Neighboring Areas has actually begun its work, headed by the Chairman of the National Investment Commission, Haider Mohammed Makiya."

She stressed that "the development and Advancement of the Al-Tayeb Area, southeast of Maysan Governorate, will be the first economic city in Iraq and will represent a successful model and an economic resource for the state that can be applied in other governorates of the country," explaining that "this model will represent diverse and ready investment portfolios capable of attracting and bringing in local and foreign capital."

She continued, "Al-Tayeb City will include a group of diverse projects in various economic specializations, including projects specialized in the residential sector, others in the industrial sector, and other economic projects, in addition to recreational and academic projects," noting that "developing the region will achieve a great economic return that will contribute to stimulating the economic base in the governorate, and providing job opportunities for the governorate's people."  link

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

Tishwash:  Despite their large numbers, a shocking percentage of government and private banking services in Iraq

A government advisor revealed a shocking percentage and number of banking services in the public and private sectors provided to the public in Iraq.

Mazhar Mohammed Saleh told {Al Furat News} agency, "The point of stability in the banking market in particular and the financial market in general is not the large number of private banks and financial companies, but rather the point of achieving (financial depth), which means how much banking and financial activities and services contribute to the growth of the country's annual gross domestic product, i.e. through the breadth of services provided by these banking companies to the public in terms of quality and quantity to maximize the added value in economic activity."

He added that these banking services "in the gross domestic product revolve around a growth rate that does not exceed 1.5% in most cases, which is a low percentage compared to developed countries where this percentage rises to more than 20%."

Saleh explained that "based on this, the solidity and stability of the financial and banking market in particular is measured by the number of services provided to the public, and the number of its services still does not exceed 12 services at best, while it should rise to 45 banking services as a minimum."

"As for banking density, which is measured by the population's share of bank branch services, despite the huge number of government and private banks, the share of their branches in providing banking services to the population is still low," he continued. "

It is noted that the services of a single branch of these banks are still not commensurate with the population, and the banking density in our country is about 40,000 people per branch on average, while it should not exceed ten thousand people per branch unless it is less, as is the case in developed countries, where a single branch provides its services to an average of no more than six thousand people per bank branch."  link

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

Tishwash:  The Ministry of Commerce announces the launch of the electronic reservation system for participation in the 48th session of the Baghdad International Fair, starting from

The Iraqi General Company for Exhibitions and Commercial Services at the Ministry of Trade announced the launch of the electronic reservation system for participation in the 48th session of the Baghdad International Fair, starting from today, Thursday, the first of August, and through the company's official website (www.expo.gov.iq).

The company's general manager, Mustafa Al-Maani, said in a statement: "In implementation of the directives of the Minister of Trade, Athir Al-Ghariri, the electronic reservation system was launched for the seventh consecutive year to reserve space, location and other technical matters for participation in the 48th session of the Baghdad International Fair, which will be launched under the patronage of the Prime Minister and under the slogan (Investment, Development, Prosperity) for the period from the first to the seventh of next November.

The statement explained that "the company, within its plans, has adopted the electronic reservation system to keep pace with developments and communication to reduce routine, time, effort and reviews in this aspect."

Pointing out that "this system aims to create an integrated database on the nature and size of participation in the Baghdad International Fair, through the electronic map through which it is possible to know the participating countries and entities and the locations of their pavilions with all related information as well as the charts." link

Mot: .. LOL - I Thought of Who Immediately 

Mot: . soooo the WIFI is Down - Boo Hoo 

This Is One Of The Only Ways They Can Tame Inflation And Save The Dollar

This Is One Of The Only Ways They Can Tame Inflation And Save The Dollar

Notes From the Field By James  Hickman / Simon Black  July 31, 2024

There are only seven countries in the world that have a GDP in excess of $3 trillion: the United States. China. Germany. Japan. India. United Kingdom. And France.

Microsoft’s current market capitalization is also right around $3 trillion… which means that out of the 193 countries in the world that are recognized by the United Nations, 186 of them have an economy that’s smaller than Microsoft. Crazy.

Of course, much of Microsoft’s meteoric growth has taken place over the past three years because of the AI boom. And just like Nvidia is considered the most important hardware company in AI, Microsoft has positioned itself as the most important software company in AI… and they’re pretty much betting the business on it.

According to the company’s earnings release yesterday, Microsoft has generated an unbelievable $118 billion in Operating Cash Flow (OCF) over the past twelve months.

(OCF, if you’re not familiar, is a much more useful metric than ‘net income’ or ‘profit’ because it strips out all the non-cash accounting nonsense like depreciation.)

$118 billion in operating cash flow is a staggering amount of money. But what’s even crazier is that Microsoft spent almost every penny-- more than $113 billion-- making new investments in their business. And most of those were AI-related investments.

In short, Microsoft is a profit machine. But it’s dumping 96% of those profits into AI, in large part to justify having a $3+ trillion valuation.

Time will tell if those investments pan out, and whether Microsoft is able to build viable products that generate a sufficient return.

There’s no guarantee; AI is an extremely competitive industry where budding startups and giant tech companies are both working on the next big thing. And I have to wonder how much upside is left for a business that already has a $3 trillion valuation, relative to the competitive risks against Amazon, Google, Facebook, Apple, etc.

Yesterday the company announced that growth in their cloud ‘Azure’ business (which includes their AI revenue) was 29% year-over-year. That growth rate was slightly lower than last quarter’s 31% growth.

But even a tiny, 2% decline in growth had the market freaking out. And Microsoft stock initially plunged more than 8% in after-hours trading-- roughly $250 billion in market value. That’s larger than the economy of New Zealand.

The stock recovered much of those losses this morning. But the mini meltdown is a clear demonstration of the risk involved: even a hint of a slowdown can trigger punishing losses.

Bottom line, AI is absolutely disruptive technology and a major game changer. But we’re still in very early days; there’s a long way to go, and it’s far too early to declare a winner. Yahoo looked like the dominant Internet titan in the late 1990s, but the landscape changed dramatically.

Maybe Microsoft ends up winning the race. But there’s a lot of uncertainty in drawing that conclusion right now.

One thing that’s NOT uncertain, however, is that AI someday going to be as integral to daily life as mobile phones and the Internet are today.

We also know that AI will continue to consume ridiculous amounts of electricity — electricity, which the US grid does not have right now (and Europe is in even worse shape relative to its electrical grid).

Thanks to horrendous government incentives and propaganda by the inspired idiots and climate fanatics in the media, electrical supply from “renewable sources”, i.e. wind and solar, has skyrocketed over the past few years.

It’s no coincidence that the country is simultaneously facing major capacity shortfalls and power outages… because, you know, sometimes the sun doesn’t shine, and the wind doesn’t blow.

The green fantasy is that wind and solar are going to save the planet. But if you’re honest about the math, they’re really not all that clean.

First, you must mine a lot of really dirty resources (like cobalt) in vast quantities from places in Africa which rely on child labor in extremely dangerous conditions. But you’ll never hear Greta Thunberg utter a word about that.

Then you have to manufacture 2-6x more solar panels and wind turbines… because, again, there are occasions when the sun doesn’t shine (like nighttime!) and the wind doesn’t blow.

In the end, wind and solar end up using a lot more resources per kilowatt-hour of electricity produced than many conventional sources, and a lot of the material used are really bad for the environment.

Nuclear is a far more environmentally friendly, far more efficient way to produce electricity. And hopefully that will make a comeback… though the nuclear renaissance is likely still some years away.

In the meantime, there is an incredibly cheap, abundant, and much cleaner source of fuel that can solve America’s electrical capacity shortages and power the AI revolution: it’s natural gas.

I wrote about this last week, saying that US natural gas is a ‘picks and shovels’ investment in the AI boom.

It won’t be clear for a long time who will win the AI race. In the late 1990s, Yahoo looked to be the dominant tech titan… but the landscape changed dramatically over the next decade.

But again, we do know that AI will consume more power than the US grid has available. And the ONLY viable option to supply that power right now is natural gas.

The US is one of the wealthiest nations in the world when it comes to natural gas reserves. In fact, supply is so vast that US natural gas prices are laughably cheap; relative to the amount of energy contained in a unit of US natural gas, it’s priced at the equivalent of about $15 oil. That’s cheap.

So cheap, in fact, that an electrical grid powered by natural gas can not only deliver the quantity of electricity necessary to power the nation (and AI boom), but it could dramatically reduce energy costs.

This is a big deal. Energy prices influence the price of everything. If electricity is cheap, consumers and families save money. Manufacturing costs less. Services cost less. Transportation costs less. Everything becomes cheaper and more efficient.

To be even more clear, a natural gas renaissance could generate greater US economy growth, potentially even leading to higher tax revenue and lower deficits.

In short, natural gas is one of the only ways that they’ll be able to tame the inflation problem and save the dollar. And with natural gas prices so cheap right now, it seems to me that there’s a lot more upside in the energy of the future, than in companies that are already selling for trillions of dollars.

To your freedom,  James Hickman  Co-Founder, Schiff Sovereign LLC

PS — If you want to go even deeper into this topic, we definitely want to encourage you to check out Schiff Sovereign: Premium. it’s packed with some incredible insights, including Plan B strategies and compelling investment research. The upcoming issue due out in a few weeks will go into far more detail about this trend, as well as some ways to invest.

https://www.schiffsovereign.com/trends/this-is-one-of-the-only-ways-they-can-tame-inflation-and-save-the-dollar-151198/

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 8-1-24

Good Afternoon Dinar Recaps,

TOKENIZED US TREASURY BILLS ON XRP LEDGER

"Tokenization platform OpenEden has announced that it will bring tokenized US Treasury bills (T-bills), a short-term US government debt obligation backed by the US Department of the Treasury, to the XRP Ledger (XRPL) and its users for the first time."

"The tokenization of T-bills onto the XRPL is a demonstration of how institutional access to decentralized finance (DeFi) is being driven by the tokenization of traditional real-world assets (RWAs).

The assets backing OpenEden’s TBILL tokens are invested in short-dated US T-bills and reverse repurchase agreements collateralized by US Treasuries. Minters are subject to stringent KYC and AML screening to ensure the highest security and regulatory compliance standards."

"Markus Infanger, Senior Vice President, RippleX. "Institutions are increasingly looking at where to tokenize their real-world assets and the arrival of T-bills on the XRPL powered by OpenEden reinforces the decentralized Layer 1 blockchain as one of the leading blockchains for real-world asset tokenization.”

"“Bringing tokenized T-bills to the XRP Ledger is the next step in our exciting journey. Purchasers will be able to mint our TBILL tokens via STABLECOINS, including Ripple USD (RLUSD) when it launches later this year.”

@ Newshounds News™

Read more:  Ripple
~~~~~~~~~

USDC TRADING VOLUME SOARS 48% in July, driven by MiCA

"Circle’s stablecoin trading volume spiked in July thanks to a surge in market inflows and new European (MICA) rules for digital assets.

 According to a July 31 report by CCData, the trading volume for USD Coin pairs on centralized exchanges reached $135 billion as of July 25, while its market capitalization rose 5.4% to $33.6 billion."

"With the implementation of the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework, Circle became the first stablecoin issuer to be approved by regulators in the region on July 1."

"According to DefiLlama, USDT retains the largest market share of any stablecoin at nearly 70%. In addition, on July 31, Tether reported record profits of $5.2 billion in the first half of 2024."

"Several crypto exchanges in Europe delisted stablecoins ahead of the implementation of new rules on June 30."

@ Newshounds News™

Read more:  Coin Telegraph

~~~~~~~~~

"In a July 2024 CBDC report, it is documented that Russia’s CBDC pilot program has been successful and will extend the number of participants from 34 to 1200 banks/merchants in the second half of 2024."

There’s only 396 operating banks in Russia meaning that the 1200 participants that the CBDC will extend to EVERY BANK IN RUSSIA.

"Therefore, Russia is conveniently passing legislation to allow “international cross border cryptocurrencies” right before they ramp up CBDC usage in 2024"

@ Newshounds News™

Read more:  https://x.com/SMQKEDQG/status/1818676859527184787

~~~~~~~~~

Russia's top senator announces progress on BRICS digital payment system

Amid endless sanctions and Russia’s disconnection from SWIFT, the Bank of Russia has developed its own payment system, which many countries have already joined, Valentina Matviyenko noted

MOSCOW, August 1. /TASS/. Plans to create a BRICS digital payment platform are moving steadily forward, Russia’s Federation Council Speaker Valentina Matviyenko told a press conference.

"The creation of the independent financial payment platform BRICS Bridge, a standalone mutual payment system on a firm joint platform, is now being discussed within BRICS. I have spoken both with the Central Bank and the Finance Ministry, things are moving along nicely," she said. 

"It is being discussed with colleagues from central banks, finance ministries of all BRICS countries, including new members," Matviyenko said, adding that Russia, as the BRICS chair, is in charge of all this.

"If it works it will be a bombshell globally, in the best sense," the upper chamber head noted. She expressed hope that this issue would be considered at the summit of BRICS heads of states in Kazan in October. 

"Perhaps it will be approved then, or at least the discussions will lead to a decision on when and in which format it should be finalized, meaning this is no longer just an idea, it is moving forward in practice," she stressed.

Amid endless sanctions and Russia’s disconnection from SWIFT, the Bank of Russia has developed its own payment system, which many countries have already joined, Matviyenko noted. "This shows that there is a light at the end of every tunnel," she added.

The Federation Council Speaker pointed out that the dollar is becoming weaker globally amid an overflowing US national debt, while the system of mutual settlements in national currencies is expanding.

"I hope that the system that has been created by BRICS, will become a trend, an example that not only BRICS nations, but many other countries as well will join later," she said, adding that the issue is being discussed by the Shanghai Cooperation Organization (SCO) as well.

@ Newshounds News™

Read more:  TASS

~~~~~~~~~

MF'S GLOBAL RESERVE ASSET- SDR'S- PAY ATTENTION TO THIS ONE

"Congratulations to members, staff, and leadership on the 80th anniversary of the IMF’s foundation at Bretton Woods, New Hampshire.

The Fund is the crown jewel of the post–World War II international architecture. It was designed by idealists determined to construct a set of institutions to deter aggression among the major powers and prevent resumption of the interwar economic and financial unilateralism."

"The IMF’s principal purpose, according to its Articles of Agreement, is to promote international monetary cooperation by providing “the machinery for consultation and collaboration on international monetary problems.” In the turbulent period following the end of US dollar convertibility to gold in August 1971, members demonstrated that principle and quickly completed the Smithsonian Agreement by December. 

The agreement’s new par values for fixing currencies to the US dollar did not hold, though, and within two years, the Bretton Woods exchange rate regime dissolved into a system of managed floating exchange rates."

"The most enticing opportunity is the IMF’s global reserve asset, SPECIAL DRAWING RIGHTS (SDRs)."

"More than 50 years ago, members approved the first amendment to the Articles of Agreement authorizing the IMF to allocate special drawing rights. The negotiations lasted the better part of the 1960s. "

"SDRs are allocated in proportion to IMF members’ quotas. Each member receives an interest-bearing reserve asset and corresponding long-term liability on which it pays the same rate. The SDR’s value is based on a BASKET OF CURRENCIES with weights adjusted periodically by the IMF board. 

Its interest rate is a weighted average of the short-term government interest rates for the constituent currencies.An  SDR allocation adds to a member’s unconditional liquidity.

Unlike unconditional liquidity derived from borrowing or current account surpluses, the liquidity is costless until the SDRs are transferred to another holder."

"The initial allocation of SDRs annually over a three-year period starting in 1969 proved to be too little too late to save the Bretton Woods exchange rate regime, but nevertheless it was a pathbreaking and historic example of international monetary cooperation.

The second amendment to the articles, in 1978, not only preserved the IMF’s authority to allocate SDRs but also established a two-part obligation for members to collaborate on “better international surveillance of international liquidity” and “making the special drawing right the PRINCIPAL RESERVE ASSET of the international monetary system."

"SDRs are not a magic bullet that alone will solve today’s pressing global economic and financial challenges, but they are one of many instruments that can contribute."

@ Newshounds News™

Read more:  IMF

~~~~~~~~~

Newshound's Daily Breakdown Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps