Global Currency Reset: Record Bank Gold Buying Happening Now
Global Currency Reset: Record Bank Gold Buying Happening Now
On August 13, 2024 By Awake-In-3D
Central Banks Are Stockpiling Gold Like There is No Tomorrow as They Prepare for a Global Currency Reset As economies around the world face challenges like rising debt and inflation, I think we can all agree that we’re on the verge of a significant financial system shift—a “global currency reset.”
In recent years, there’s been a growing sense that the current global financial system, which relies heavily on paper money (or fiat currencies), is clearly on its path to a logical conclusion in the form of a worldwide systemic crash.
Global Currency Reset: Record Bank Gold Buying Happening Now
On August 13, 2024 By Awake-In-3D
Central Banks Are Stockpiling Gold Like There is No Tomorrow as They Prepare for a Global Currency Reset
As economies around the world face challenges like rising debt and inflation, I think we can all agree that we’re on the verge of a significant financial system shift—a “global currency reset.”
In recent years, there’s been a growing sense that the current global financial system, which relies heavily on paper money (or fiat currencies), is clearly on its path to a logical conclusion in the form of a worldwide systemic crash.
This means that countries will move away from relying solely on traditional fiat currencies like the U.S. dollar and instead turn to something real, like gold, to back their currencies.
To prepare for this possible reset, central banks in various countries have been buying large amounts of gold. They see gold as a safe and reliable asset that can protect their economies if the value of paper fiat currency falls.
This article will explore why central banks are making these moves and what it means for the future of our financial system.
In This Article:
Record Gold Purchases by Central Banks in 2024 Signal Preparation for a Global Currency Reset
Key Factors Driving Central Bank Gold Accumulation
How Gold Will Anchor a Global Currency Reset
The Global Economic Impact of Central Banks’ Gold Strategy
As concerns about the stability of the global fiat currency system grow, central banks around the world are aggressively purchasing gold.
By mid-2024, these purchases had set a new record, indicating preparations for an impending global currency reset.
Central banks added a net 483 tons of gold in the first six months of the year, reflecting a strategic move towards gold as a hedge against the risks of the current financial system.
Record Gold Purchases by Central Banks in 2024 Signal Preparation for a Global Currency Reset
Central banks globally have been on a gold-buying spree in 2024, with a net addition of 483 tons in the first half of the year.
This surge represents a 5 percent increase from the previous record of 460 tons set in the first half of 2023. Despite a slight slowdown in the second quarter, central banks bought 183 tons of gold during this period, a figure that remains historically high.
This activity is largely driven by concerns over a potential global currency reset, as trust in the fiat currency system continues to erode.
Key Factors Driving Central Bank Gold Accumulation
The concept of a global currency reset is gaining traction as central banks increasingly view gold as a safeguard against the vulnerabilities of the current financial system.
Countries like China, India, and Turkey have significantly increased their gold reserves, reflecting their strategic intent to diversify away from fiat currencies, particularly the U.S. dollar. China, which paused its official gold purchases in May and June, is speculated to be acquiring gold off the books, contributing to the demand.
This move aligns with broader concerns about the sustainability of the fiat currency system and the potential for a financial reset anchored by gold.
How Gold Will Anchor a Global Currency Reset
The possibility of a global currency reset is prompting central banks to accumulate gold, positioning it as a key element in a new financial system.
With the fiat currency system showing signs of strain—exacerbated by high levels of debt and inflation in major economies—gold is being viewed as a stable alternative. Poland, for instance, has made significant strides to increase the share of gold in its total reserves to 20 percent.
This strategy reflects a broader trend where central banks are preparing for a possible transition to a gold-backed system, which could offer more stability in a rapidly changing economic landscape.
The Global Economic Impact of Central Banks’ Gold Strategy
The strategic accumulation of gold by central banks is a clear indicator that a global currency reset is on the horizon.
The World Gold Council’s recent survey reveals that nearly 30 percent of central banks plan to add more gold to their reserves over the next 12 months. This widespread interest in gold underscores its value in a future where fiat currencies may no longer hold any level of trust.
As central banks continue to stockpile gold, the global economy will witness a significant shift towards a system where gold plays a central role, altering the dynamics of international trade, investment, and monetary policy.
The Bottom Line
The record-setting gold purchases by central banks in 2024 highlight a growing consensus that the global fiat currency system is approaching its end.
As fears of a global currency reset mount, central banks are turning to gold to protect their economies. This trend suggests that gold will soon become the cornerstone of a new financial system, reshaping the global economic order in profound ways.
Supporting Article:
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News, Rumors and Opinions Thursday AM 8-15-2024
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 Thurs. 15 Aug. 2024
Compiled Thurs. 15 Aug. 2024 12:01 am EST by Judy Byington
Wed. 14 Aug. 2024 Possible Timing, David Wilcock
There will be a EBS message sent over phones, TV and radio around the Globe saying that in the next five hours or so, everyone needed to be home for a global lockdown that would last 10 to 12 days.
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 Thurs. 15 Aug. 2024
Compiled Thurs. 15 Aug. 2024 12:01 am EST by Judy Byington
Wed. 14 Aug. 2024 Possible Timing, David Wilcock
There will be a EBS message sent over phones, TV and radio around the Globe saying that in the next five hours or so, everyone needed to be home for a global lockdown that would last 10 to 12 days.
NESARA will be announced to the world, which will show that EVERYTHING NEW is beginning.
Then through the EBS, they will show documentaries of everything that has happened to wake up the masses.
At the end of the 12 days, they will give out an 800 number for individuals to call to obtain an appointment to set up your Quantum money account on the new Starlink Satellite System.
There were 75 Deep State Banks that were seized and all assets and accounts closed. All the Cabal’s Central Banks have been taken over, with assets entered into the Quantum Financial System (QFS).
The QFS is run on Blockchain where nothing fraudulent can happen because everything is traceable. They can see where all money goes, which stops corruption in its tracks.
Apparently all people have a sum of money in an individual Quantum Financial Account.
The seized assets of the Cabal were moved to those Quantum Financial Accounts of The People. All monies in trust funds were moved to individual QFS accounts. All our bank accounts, savings accounts and retirement accounts were safe in the new Quantum System.
The only monies not reflected in individual Quantum Accounts were investments and shares on the Stock Market. All that will be gone! It is advised to get out of the Stock Market immediately.
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Global Currency Reset:
Judy Note: It is my personal opinion, and I could very easily be wrong, that Tier4b (us, the Internet Group) will be notified to set redemption/exchange appointments sometime after Project Odin and the Military takeover begins on Mon. 19 Aug. 2024.
Wed. 14 Aug. Wolverine: “Things are happening that are confidential and I cannot discuss, but I hope to have absolutely great news for you tomorrow.”
Wed. 14 Aug. MarkZ: “Not only were the Pickford claims (black farmers) being paid out, but also the other Farm Claims have started paying out – in the billions, along with the R&R payouts” (which were assumed to be going into our QFS Accounts).
Tues. 13 Aug. 2024 Bruce: Farm claims began with black farmers being paid out on Thurs. 8 Aug. Tier4b (Us, the Internet Group)was in a seven day window to receive notification to set redemption/ exchange appointments that ran from Wed. 14 Aug. to Wed. 21 Aug, with exchange appointments to start on Mon. 19 Aug. Debt forgiveness reimbursement that zeroed out mortgages started Sun. 11 Aug. and ended Sat. 24 Aug., with credit cards wiped out of debt by Sat. 31 Aug.
Tues. 13 Aug. 2024 Mike Bara: “I have been given a date of Wed. 21 Aug. for the revaluation of the Iraqi dinar. The bond holder remains excited about the possibility he will get paid today.”
Tues. 13 Aug. “A Banker indicated that many positive items are pointing to Thurs. 15 Aug. 2024.”
Tues. 13 Aug. 2024: RV/GCR and EBS Disclosure: The Global Financial Armageddon and the Collapse of Nine Nations – The Impending EBS Disclosure and Market Crash – amg-news.com – American Media Group
Tues. 13 Aug. 2024 BRICS Destroying US Monetary System, Leading World to Gold: https://rumble.com/v5atid8-brics-is-destroying-the-u.s.-monetary-system-and-leading-the-world-to-gold.html
Read full post here: https://dinarchronicles.com/2024/08/15/restored-republic-via-a-gcr-update-as-of-august-15-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Bruce [via WiserNow] ...from the latest info that we received last night was that that we are in basically a seven day window...we got it last night that said Wednesday to Wednesday...we've also heard from another call...that was with the financial advisors, bankers and so on, that there was a consensus...that we would be notified over the weekend and then start exchanges on Monday. So the 19th...Let’s Hope that is true... This thing is right here, right there, where we can go anytime, yes, and we'll see if the Wednesday window holds up, or if we get surprised, and maybe it goes soon...
SkyWalker There seems to be some confusion...when it comes to the delete the zeros program. Value of the Iraqi dinar starts in country by government policies, CBI reserves, oil production, investments by the Iraqi government, output of the economy, and so on. Value is currently represented by the three zeros printed on the currency. An exchange is a ratio of two currencies which is used outside the borders of a country. Therefore, when value is added to the Iraqi dinar first by the CBI in country the three zero notes will be physically removed from circulation. In their place the CBI will release the lower notes with added value...Lastly, the exchange rate of the Iraqi dinar compared to other currencies will reflect the added value to the Iraqi dinar. So, it is not about the zeros coming off the exchange but the three zero notes being no longer used...
US Sanctions on Iraq! Is This Why the IQD RV Has NOT Happened?
Edu Matrix: 8-15-2024
US Sanctions on Iraq! Is This Why the IQD RV Has NOT Happened? We don't believe sanctions have anything to do with the delay in the IQD. However, we could be wrong.
BRICS Gold Rush & Election: Precious Metal Shortages Ahead | Andy Schectman
Liberty and Finance: 8-14-2024
Andy Schectman, president and CEO of Miles Franklin, examines the implications of the BRICS nations' growing interest in gold and how it might impact the precious metals market.
He notes that the BRICS countries are increasingly investing in gold as a hedge against dollar devaluation, which could signal a shift toward a more gold-centric financial system.
INTERVIEW TIMELINE:
0:00 Intro
2:00 Risks to the US grid
10:46 Precious metals fundamentals
15:33 Financial risks
“Tidbits From TNT” Thursday Morning 8-15-2024
TNT:
Tishwash: With an increase in recent months.. Iraq's internal debt exceeds 78 trillion dinars - Urgent
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Wednesday, that Iraq's internal debt exceeds 78 trillion dinars, with an increase in recent months.
Saleh said in a statement to (Al-Rabia) that "Iraq's move towards borrowing from the domestic banking market to finance two waves of the general budget deficit came under the influence of the decline in the oil assets cycle and in two different periods during the current decade. The first wave of borrowing, which amounted to nearly 27 trillion dinars, was financed by the government banking system through purchasing treasury transfers during the intensification of the security crisis (the entry of the terrorist ISIS) between the years 2014-2017."
TNT:
Tishwash: With an increase in recent months.. Iraq's internal debt exceeds 78 trillion dinars - Urgent
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Wednesday, that Iraq's internal debt exceeds 78 trillion dinars, with an increase in recent months.
Saleh said in a statement to (Al-Rabia) that "Iraq's move towards borrowing from the domestic banking market to finance two waves of the general budget deficit came under the influence of the decline in the oil assets cycle and in two different periods during the current decade. The first wave of borrowing, which amounted to nearly 27 trillion dinars, was financed by the government banking system through purchasing treasury transfers during the intensification of the security crisis (the entry of the terrorist ISIS) between the years 2014-2017."
He added that "the International Monetary Fund estimated at that time the current account deficit gap of the balance of payments due to the decline in oil prices to be no less than 18 billion dollars cumulatively during those years, and the second wave occurred between the years 2020 and 2021, that is, during the health crisis with the spread of Corona and the closure of the global economy, which was accompanied by a decline in oil prices and a decline in budget revenues and the loss of more than 40% of the value of the oil barrel
While the legislation of the general budget law for the fiscal year 2020 was absent and was replaced by three legislations to finance the deficit, two of which were for direct domestic borrowing and two separate laws issued by the House of Representatives, that by heading towards the domestic borrowing market and the other is the Food Security and Development Law, and an important aspect of it was based on domestic borrowing as well, which raised the level of domestic debt to exceed the barrier of 78 trillion dinars." link
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Harambe: Telegram: A major cyberattack has targeted the Central Bank of Iran (CBI) and several other banks …
Telegram Link
A major cyberattack has targeted the Central Bank of Iran (CBI) and several other banks, leading to widespread disruptions in the country’s banking system. Initial assessments indicate this could be one of the largest cyberattacks ever against Iranian state infrastructure.
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Harambe: Cyberattack targets Central Bank of Iran
#BREAKING A major cyberattack has targeted the Central Bank of Iran (CBI) and several other banks, leading to widespread disruptions in the country’s banking system, @IranIntl has learned. Initial assessments indicate this could be one of the largest cyberattacks ever against… Show more
https://m.jpost.com/breaking-news/article-814715
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Masoud Barzani calls for national wealth and wants to preserve it, but what is the story of the “committees of commitment”?
Today, Wednesday (August 14, 2024), the leader of the Coordination Framework, Saad Al-Saadi, revealed the results of the agreement between the framework and the leader of the Kurdistan Democratic Party, Masoud Barzani, regarding the oil smuggling file.
Al-Saadi told Baghdad Today, "Smuggling natural resources, including oil, in any country represents a drain on the economy, destruction of infrastructure, and loss of the rights of the people of all stripes. Therefore, the smuggling file must be stopped."
He added, "During the visit of the President of the Kurdistan Democratic Party, Masoud Barzani, to the capital, Baghdad, and his meeting with the leaders of the framework, the issue of natural resources was actually raised within a broad agreement to preserve them as a national wealth."
He continued: "It was agreed to form committees whose mission is to oblige all parties to abide by the decisions of the Federal Court on the oil and gas file, in addition to the rest of the other agreements with Baghdad," adding: "We hope at the same time that there will be seriousness and credibility on the part of our brothers in the region in implementing the terms of the agreement."
He pointed out that "the management of oil and other wealth by the central government and its institutions is within the context of the Iraqi constitution, and this will must be respected and adhered to because it will address many problems and provide greater protection for the national wealth."
The visit of the leader of the Kurdistan Democratic Party, Massoud Barzani, to Baghdad attracted attention because it came after six years of "estrangement" with the ruling political class in Iraq, which suggests that a remarkable development has occurred in the relationship between the Kurdistan Region and the central government.
Political circles believe that the aim of the visit is to crown the partial understandings that occurred recently and covered several files with a comprehensive settlement between the region and the centre.
Barzani's presence as a prominent Kurdish figure aims to lend legitimacy to the settlement and raise its value so that it appears to be an important event and not just a passing meeting, which is what the central government needs to confirm its ability to bring the region's leaders to its square, while the settlement reduces internal pressures on the region's officials, especially if he succeeds in ensuring smooth and continuous payment of salaries. link
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Tishwash: Parliamentary Finance Committee discusses with US Embassy the financial and banking system and the lack of dollars in the market
The Parliamentary Finance Committee confirmed, today, Tuesday, discussing the financial and banking system and the lack of the dollar in the Iraqi market with a delegation from the US Embassy in Baghdad.
A statement by the Parliament's media department received by / Today's News / stated that "the head of the Parliamentary Finance Committee, Atwan Al-Atwani, received at the committee headquarters, in the presence of Representative Khalil Al-Dawski, today, Wednesday, a delegation from the US Embassy in Baghdad, Minister Counselor for Economic and Trade Affairs Julie Jules, Deputy Counselor for Economic and Trade Affairs Angel Fintling, Macroeconomic Officer, Economic and Financial Section Michael Pinnell, and Economic Assistant/Economic Section, to discuss the financial and banking system in the country, Ammar Al-Ammar."
The statement continued, "The meeting discussed the financial and economic situation in the country and the repercussions of the parallel market issue and its negative impact on the government economically, in addition to the lack of the dollar currency in the market, and the sanctions imposed on some banks, as well as the issue of the electronic platform for exporting the currency."
The head of the committee stressed "the importance of high coordination between the two sides in order to solve the pending financial problems, in addition to the importance of transparent dealing to benefit from the capabilities, and not resorting to dealing in another currency," noting "the need to create an atmosphere of understanding and invest in building bilateral relations on this basis."
Al-Atwani stressed "the committee's keenness to commit to combating financial corruption and confronting money laundering, as they are the basis for building societies, in addition to coordination in order to make correct decisions in this regard."
For her part, the Minister Advisor for Economic and Trade Affairs said that "there is a real opportunity for cooperation and reform of the economic and financial system between the two sides," stressing "working together to find appropriate solutions to all problems for the stability of Iraq as a basic ally of the United States."
The statement noted "providing clarification on the three-year general budget and plans for banking regulation and reform of the spending process, and how to finance projects, in addition to the importance of supporting the private sector and involving it with the public sector, which confirms the importance of investing the revenues achieved and the possibility of providing the service."
According to the statement, Al-Atwani pointed out the "ambition to legislate a law on partnership between the public and private sectors and involve the private sector in the market, in addition to working to amend the tax law and shift from the paper system to the electronic system." link
Mot: . All Too Soooon
Mot: Just Letting Yous Know!!!!
Economist’s “News and Views” Wednesday 8-14-2024
US Debt Collapse Will Destroy Dollar | Craig Hemke
Liberty and Finance: 8-13-2024
Craig Hemke emphasizes the growing national debt, noting a recent $243.7 billion deficit in July alone and a projected $1.9 trillion deficit for the fiscal year.
He highlights the risk of worsening inflation due to increasing debt and monetary policies. Hemke recommends precious metals, such as gold, as a reliable hedge against these financial pressures and inflation. He stresses that owning physical gold can preserve purchasing power and provide safety amid rising debt and economic uncertainty.
US Debt Collapse Will Destroy Dollar | Craig Hemke
Liberty and Finance: 8-13-2024
Craig Hemke emphasizes the growing national debt, noting a recent $243.7 billion deficit in July alone and a projected $1.9 trillion deficit for the fiscal year.
He highlights the risk of worsening inflation due to increasing debt and monetary policies. Hemke recommends precious metals, such as gold, as a reliable hedge against these financial pressures and inflation. He stresses that owning physical gold can preserve purchasing power and provide safety amid rising debt and economic uncertainty.
INTERVIEW TIMELINE:
0:00 Intro
1:40 Gold update
4:03 COT Report
6:20 Silver update
9:51 Acquisitions
13:19 Recession concerns
16:46 Keynsian experiment
The Yield Curve is Un-Inverting (Stocks Crash Every Time)
Heresy Financial: 8-14-2024
TIMECODES
0:00 Intro
0:34 the Yield Curve is Currently Inverted
1:51 This Typically Indicates a Recession
4:13 There's 2 Types of UnInverting Yield Curves
6:38 Looking at All Treasury Bonds
8:24 Bull vs Bear Steepener
12:26 How Yield Curves Correlate to Stocks
14:58 It Pays to Be Prepared
Matter Of Time Bubble Implodes; What The Next Financial Crisis Looks Like | Diego Parrilla
David Lin: 8-14-2024
Diego Parrilla, CIO of Quadriga Asset Managers, discusses how governments respond to crises, and the "anti-bubble" assets that would counteract the downside risks of the next financial bubble implosion.
0:00 - Intro
0:45 - Is the market top in?
2:35 - Recession risks
5:20 - Liquidity
8:15 - Fed rate cut
12:00 – Inflation
19:25 - Money velocity
20:35 - Dollar strength
25:11 - Bubble and anti-bubbles
Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 8-14-24
Good Afternoon Dinar Recaps,
NON-MARKET ECONOMY STATUS FOR VIETNAM: 'opportunities amid danger'
RECENTLY THE US COMMERCE DEPT REFUSED TO RECOGNIZE VIETNAM AS A "MARKET ECONOMY". THIS ARTICLE FROM A VIETNAMESE NEWSPAPER REVEALS THE REASONS BEHIND THIS STATUS
"The US Department of Commerce's decision to continue classifying Vietnam as a non-market economy was disappointing news. However, this gives Vietnam the chance to accelerate reform towards a market economy."
"This is the driving force for the Ministry of Industry and Trade (MOIT) to implement the commitment that it will research and analyze the US Department of Commerce’s (DOC) report about Vietnam’s economy, to supplement and complete arguments before submitting dossiers to DOC on granting market economy status, a step to concretize the Vietnam-US comprehensive strategic partnership."
Good Afternoon Dinar Recaps,
NON-MARKET ECONOMY STATUS FOR VIETNAM: 'opportunities amid danger'
RECENTLY THE US COMMERCE DEPT REFUSED TO RECOGNIZE VIETNAM AS A "MARKET ECONOMY". THIS ARTICLE FROM A VIETNAMESE NEWSPAPER REVEALS THE REASONS BEHIND THIS STATUS
"The US Department of Commerce's decision to continue classifying Vietnam as a non-market economy was disappointing news. However, this gives Vietnam the chance to accelerate reform towards a market economy."
"This is the driving force for the Ministry of Industry and Trade (MOIT) to implement the commitment that it will research and analyze the US Department of Commerce’s (DOC) report about Vietnam’s economy, to supplement and complete arguments before submitting dossiers to DOC on granting market economy status, a step to concretize the Vietnam-US comprehensive strategic partnership."
"After doi moi (renovation), Vietnam has been consistent in carrying out a reform to turn the single-sectoral economy into multi-sectoral economy. The economy has been liberated from the state’s strict and rigid control, while people have freedom to trade and do business.
In addition, Vietnam has signed 16 new-generation FTAs (free trade agreements), becoming one of the most open economies in the world."
"Thanks to economic reform, Vietnam has become an example in hunger elimination and poverty reduction, with the hunger and poverty rate falling from nearly 60 percent in early 1990s to 3 percent now. Private domestic invested enterprises with official registrations have been growing steadfastly. "
"Vietnam has finished the underdevelopment period, becoming an average income country with a dynamic market economy which is integrating deeply into the global economy."
"There is no doubt that the reforms and considerable progress in recent years are why 73 economies have recognized Vietnam as a market economy."
"Economic Freedom of the World Index by Canadian Frazer Institute released late last year showed that Vietnam ranked 106th among 165 countries and territories. The position represented a four-grade promotion compared with the year before, a relatively big improvement compared with other regional countries."
"After 40 years of doi moi, Vietnam’s economy is still undergoing the transition with some shortcomings as follows:
1. First, the pricing mechanism of some products, such as petroleum, electricity, airfare and healthcare services still bears administrative intervention.
2. Second, the protection of ownership and property rights still cannot be carried out thoroughly. In some places, land is recovered by the state at non-market prices.
3. Third, the state-owned economic sector still accounts for a large proportion of the national economy.
"A report of the World Bank shows that the state still participates in many economic activities through SOEs, while the land and capital allocation bear the impact of administrative commands rather than market conditions."
Costa Rica recognizes Vietnam as market economy
@ Newshounds News™
Source: Vietnam Net
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INDIA's CENTRAL BANK: the impact of tokenized deposits, CBDC on deposit insurance
Yesterday during a speech, Reserve Bank of India (RBI) Deputy Governor MD Patra discussed how tokenized deposits and central bank digital currency (CBDC) might impact deposit insurance.
Tokenized deposits are a digital version of bank deposits using blockchain infrastructure to process programmable payments 24/7. In a digital world, they compete with stablecoins and CBDCs, although the design is quite different.
From a deposit insurance perspective, most tokenized deposit infrastructures aim to maintain the same deposit insurance coverage as a conventional bank deposit. However, Mr Patra noted that tokenization potentially can amplify bank runs in times of stress.
Hence, the risks posed by tokenized deposits need to be modelled to determine the insurance fund size and premium rates.
If there’s a bank failure, compensating clients might be less straightforward. “With different banks using different technologies there’s also the possibility that tokenised deposits could be held by depositors who are not KYC compliant and not clients of issuing banks,” said Mar Patra. “Consequently, verification of the authenticity and genuineness of claims may prove to be a testing challenge.”
Like the United States, India has a recent history of failing banks. In 2020 YES Bank started experiencing a run and the central bank took it over for a while. It restructured the bank with several other Indian banks taking equity stakes. Subsequently, YES Bank raised additional capital and is still operational today.
CBDC impact on deposit insurance
In an economy with a retail CBDC, if a bank fails, those with uninsured deposits will quickly try to transfer the money elsewhere.
The advantage of a CBDC its low risk because it is the liability of the central bank. On the one hand, depositors could just transfer the money to another commercial bank. Alternatively, they could switch to a CBDC.
Hence, the Deputy Governor observed that “particularly uninsured deposits, (would be) more prone to withdrawal and hence the risk of bank runs. Given the inherent links between such systems and the objectives and operations of deposit insurers, it is expected that the topic of CBDC will continue to grow in relevance for deposit insurers.”
In other words, if CBDCs encourage bank runs, that makes a bank more likely to fail and hence there’s a higher probability of drawing down the insurance fund.
“The impact of CBDC on deposits and hence deposit insurance is largely unknown as of today,” said Mr Patra. “The operating models and design features of each individual jurisdiction’s CBDC will be a crucial factor in expanding our understanding of the balance of risks.”
@ Newshounds News™
Source: Ledger Insights
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Canada needs to overhaul crypto regulations — Coinbase exec
The Canadian government has previously come under fire for undermining the economic freedom of its citizens and freezing crypto donations.
Coinbase country director for Canada Lucas Matheson took the stage at the Blockchain Futurist Conference on Aug. 13 to discuss the state of Canadian digital asset regulation and promote the newly expanded Stand With Crypto initiative.
Matheson argued that although Canada’s regulatory framework is already robust, the country still needs to modernize crypto regulation.
The director noted that 85% of countries will be adopting comprehensive regulatory frameworks for digital assets over the next year and urged the importance of public dialogue in educating public officials about the importance of cryptocurrencies. Coinbase’s Canadian director summed up the long-term goal for Stand With Crypto’s advocacy:
“Canada frankly has a lot of work to do to change laws, and the goal is to change laws in Canada so that we can increase economic freedom and update the financial system in Canada.”
Matheson concluded his presentation by directing audience members to sign up for the advocacy group.
Coinbase launches Stand With Crypto in Canada
Coinbase launched the Stand With Crypto initiative in Canada in July of 2024, following the success of the political advocacy group in the United States.
When the advocacy group launched, Matheson said that Canadian regulators tended to be much more cooperative with the industry than American regulators but noted that input from elected politicians was lacking.
Binance cited changes in stablecoin policy and investor limits outlined in the 2023 regulation as the main drivers for the company’s exit from the country.
@ Newshounds News™
Source: Coin Telegraph
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BRICS should focus on creating seamless economic environment — Indian expert
Apart from economic integration, BRICS should also address "critical global challenges with a collaborative and proactive approach," Vice Chairman of BRICS Chamber of Commerce and Industry Sameep Shastri said
NEW DELHI, August 14. /TASS/. BRICS nations should focus on creating a seamless economic environment to expand trade, industrial and investment cooperation, Vice Chairman of BRICS Chamber of Commerce and Industry Sameep Shastri told TASS when commenting on the upcoming meeting of BRICS industry ministers in Russia’s Nizhny Novgorod on August 16.
"The BRICS ministerial meeting is an invaluable opportunity to strengthen the bonds between our member nations further and address key global challenges with a unified approach," he said. "We must focus on creating a seamless economic environment that fosters growth and innovation.
This might involve harmonizing trade policies, facilitating cross-border investments, and addressing any trade imbalances that may exist," Shastri added.
Technological disparities among BRICS nations can hinder collaborative progress, the expert noted. "The meeting should address ways to bridge these gaps through joint research initiatives, technology transfer, and innovation partnerships.
Prioritizing advancements in fields such as artificial intelligence, cybersecurity, and clean technologies will be critical," he said.
Apart from economic integration, BRICS should also address "critical global challenges with a collaborative and proactive approach," the expert said. "BRICS needs to lead by example in setting ambitious sustainability targets and implementing actionable plans.
The meeting should also focus on strengthening global health systems ensuring that we are better prepared for future public health crises," he said.
Shastri believes that peace and security should be central to BRICS discussions. "With rising geopolitical tensions and the persistent threat of terrorism, BRICS must work collaboratively to develop strategies that promote global stability.
This includes enhancing counterterrorism efforts, supporting peacekeeping missions, and fostering diplomatic dialogue to resolve conflicts," he stressed.
@ Newshounds News™
Source: TASS
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Top 10 Reasons We’re Now Facing a Global Financial System Crash
Top 10 Reasons We’re Now Facing a Global Financial System Crash
On August 13, 2024 By Awake-In-3D
The evidence is clear—You won’t believe how close we are to the largest collapse in history We’re standing on the edge of an financial system crash, and may people don’t even realize it. Yet!
The signs are all around us—record government spending, mounting consumer debt, and major corporations hoarding cash like never before.
Even the world’s biggest economies, like the U.S., Japan, and Germany, are struggling to keep their heads above water.
Top 10 Reasons We’re Now Facing a Global Financial System Crash
On August 13, 2024 By Awake-In-3D
The evidence is clear—You won’t believe how close we are to the largest collapse in history
We’re standing on the edge of an financial system crash, and may people don’t even realize it. Yet!
The signs are all around us—record government spending, mounting consumer debt, and major corporations hoarding cash like never before.
Even the world’s biggest economies, like the U.S., Japan, and Germany, are struggling to keep their heads above water.
This article breaks down the top 10 reasons why we’re facing what could be the worst financial crash in history.
I’m going to walk you through what’s happening, why it’s happening, and what it means for all of us.
In This Article
The Top 10 Reasons the Global Financial System Crash is on Our Doorstep
Government Spending: The Core of this Financial System Crash
Central Bank Policies Causing Unprecedented Market Distortions
Consumer Financial Behavior as a Warning Sign of the Approaching Financial System Crash
Global Economic Indicators Pointing to a Deepening Crisis
The global financial system is facing a financial system crash of unprecedented scale. With three of the five largest economies heading towards economic catastrophe, the risks are mounting.
The Top 10 Reasons the Global Financial System Crash is on Our Doorstep
Here’s a logical progression of the top 10 reasons we are in a global recession, followed by an economic depression and then the grand finale, a complete financial system crash:
Unsustainable Government Spending: U.S. government spending as a percentage of GDP is nearing historic levels, creating a precarious fiscal situation.
Skyrocketing Consumer Debt: U.S. credit card debt has reached record highs, with interest rates at unprecedented levels, mirroring unsustainable government financial practices.
Distorted Central Bank Policies: The Bank of Japan’s excessive ownership of ETFs and government bonds has caused significant market distortions, leading to instability.
Massive Insider Stock Sales: U.S. executives are selling off stocks at the fastest pace in over a decade, signaling a lack of confidence in the markets.
Surging Cash Holdings by Corporations: Companies like Berkshire Hathaway are hoarding cash, indicating a lack of confidence in the economy and anticipation of a downturn.
Persistent Manufacturing Recession: The U.S. manufacturing sector has been in recession for an extended period, signaling broader economic warning signs.
Extended Recession in Major Economies: Germany has been in recession for over two years, reflecting broader global economic fragility.
Declining Unemployment Claims Participation: A low percentage of unemployed Americans filing for benefits suggests the official data is understating the true level of economic distress.
Long-term Devaluation of Fiat Currencies: The U.S. dollar and other major currencies have lost significant value against gold, indicating long-term economic instability.
Rising Public and Household Debt: U.S. public and household debt levels have reached all-time highs, creating the potential for a systemic financial crisis.
Government Spending: The Core of this Financial System Crash
U.S. government spending has reached levels not seen since World War II. At 43% of GDP, it is just 1% below the peak during the Great Financial Crisis.
These unsustainable spending habits are breaking the economy, setting the stage for severe financial turmoil.
Japan faces its own challenges. The Bank of Japan’s extensive intervention in the economy, owning about 80% of the country’s ETFs and 55% of its government bonds, has caused significant market distortions.
The recent rate hikes by the Bank of Japan have already triggered a 12% drop in the Nikkei 225, underscoring the instability.
Central Bank Policies Causing Unprecedented Market Distortions
Central banks, particularly the Bank of Japan, have been heavily involved in the financial markets, creating artificial support that cannot be sustained indefinitely.
The consequences are now becoming apparent, with volatile markets and a loss of confidence among investors.
The Bank of Japan’s recent actions indicate that even the slightest change in policy can have dramatic effects, as seen with the substantial decline in the Nikkei 225.
Consumer Financial Behavior as a Warning Sign of the Approaching Financial System Crash
Consumer debt in the U.S. has skyrocketed, with credit card debt hitting a record $1.14 trillion in the second quarter of 2024. Interest rates have also reached an all-time high of 22.76%, mirroring the reckless financial practices of the government.
This growing debt burden is pushing consumers closer to financial collapse.
Corporate behavior is also flashing red warning signs. Berkshire Hathaway, one of the largest and most successful corporations, has increased its cash reserves to 25% of its total assets, the highest level since 2005.
This massive cash hoarding indicates a lack of confidence in the current economic environment and suggests that major corporations are bracing for a severe downturn.
Global Economic Indicators Pointing to a Deepening Crisis
Germany, one of the world’s largest economies, has been in recession for over two years, with its GDP contracting in five of the last nine quarters.
This prolonged economic decline signals a broader global economic fragility, which could trigger a domino effect across other major economies.
Insider stock sales in the U.S. have reached their highest levels in over a decade, particularly among executives in tech giants like Nvidia. This rapid sell-off indicates that those closest to the markets are preparing for a downturn, further fueling fears of an imminent crisis.
The long-term devaluation of fiat currencies, particularly the U.S. dollar, adds another layer of risk to the global financial system.
The U.S. dollar has lost 98.5% of its value against gold since 1971, with other major currencies like the Euro and Yen experiencing similar declines.
This loss of purchasing power is eroding trust in fiat currencies, pushing investors towards alternative assets.
The Bottom Line
The interconnected nature of global economies means that the problems facing the U.S., Japan, and Germany are not isolated.
With government spending spiraling out of control, distorted central bank policies, rising consumer and corporate debt, and prolonged recessions in major economies, the world is on the brink of an unprecedented financial crisis.
Contributing Article: https://www.businessinsider.com/recession-fears-fueling-stock-market-crash-wall-street-chaos-positive-2024-8?op=1
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News, Rumors and Opinions Wednesday AM 8-14-2024
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 Wed. 14 Aug. 2024
Compiled Wed. 14 Aug. 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Tues. 13 Aug. 2024 Mike Bara: “I have been given a date of Wed. 21 Aug. for the revaluation of the Iraqi dinar. The bond holder remains excited about the possibility he will get paid today.”
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 Wed. 14 Aug. 2024
Compiled Wed. 14 Aug. 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Tues. 13 Aug. 2024 Mike Bara: “I have been given a date of Wed. 21 Aug. for the revaluation of the Iraqi dinar. The bond holder remains excited about the possibility he will get paid today.”
Tues. 13 Aug. 2024 Idaho now has it’s own gold-and-silver depository. Its owner says it can hold more than Fort Knox https://www.idahostatesman.com/news/business/article290989570.html
Tues. 13 Aug. “ A Banker indicated that many positive items are pointing to Thurs. 15 Aug. 2024.”
~~~~~~~~~~
Tues. 13 Aug. 2024 Bruce:
Last night we were told we were in a 7 day window from Wed. 14 to Wed. 21
Today there was a conference call between paymasters at Wells and the CBI.
The 19 currencies on the screen were slow blinking. One currency went down (the USN) that was no longer the fed – meaning we were about to start.
The USN was part of NESARA – debt forgiveness that started Sun. 11 Aug. It is zeroing out all mortgages over a ten day process ending Sat. 10 Aug.
Credit card forgiveness will be wiped out by Sat. 31 Aug.
Farm claims began to be paid out 8 Aug. Black farmers were paid out first.
Exchanges were to start Mon. 19 Aug.
We would be notified over the weekend.
~~~~~~~~~~
Mon. 12 Aug. 2024 Foreign Currency Exchange and Zim Bond Redemption … John F. Kennedy on Telegram:
Bond funds delivered to paymasters coming in so fast that everyone was in awe from the amount.
Private appointments are being made now.
Get your plans/projects together and don’t wait around for this to happen without being ready.
No straight cash will be given
You are in charge of your funds and can place funds in different accounts
Advisers will be there to assist you with your funds and will help guide you in your projects or choosing one on the list.
Everything is going well, still some that do not want this to happen, but all is safe.
You can take to your appointment: advisors/bank contacts (if you have already spoken to a specific person)/ friend/any person/s you want to assist you
Zim Cap information is changing daily but as of now they are paying as follows:
No Projects = $15 million no matter amount you might hold
With Projects = First two bond notes are 1 to 1, after this $25 million (per 100T) up to 30 bond notes. To negotiate further, you will need to return.
Safe link 800# will be released closer to go date.
Rates are EXTREMELY high.
We are almost at the end of the road.
All intel is saying “Next Week.”
A trusted military intelligence contact confirmed that GCR Liquidity release began at exactly 3:00 PM PDT on Wed. 7 Aug. 2024 and would unfold over the next 72 hours. “The Sovereign Committee and US federal government have just approved T4A and B payments – this has started Reno, Miami, and other East Coast states.”
Sources said the delays in setting Tier4b appointments (which were to be made starting Sat. 10 Aug. – didn’t happen.) were from making sure the QFS system and all the test clients were done perfectly so they can see their funds in their accounts (or hold SKRs) but would not be able to use these funds until the shotgun start has started.
The new currency rates were traded on the Forex till Sunday 11 Aug. at 5pm.
Over 1500 Farm Claims have been paid out.
Prosperity Packages National Guard deliveries started on Fri. 9 Aug.
Mid-September was anticipated to be a period of substantial activity of significant financial movement.
Read full post here: https://dinarchronicles.com/2024/08/14/restored-republic-via-a-gcr-update-as-of-august-14-2024/
************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY:
CBI spokesman on television talking about the advantages and the different types of floating our currency is going to go through. He said there are two types of float. Free float and managed float. FRANK: ...You are in the monetary reform phase that is educating you on your new currency...new exchange rate...lower notes. This campaign is pounding the information about the next step of the monetary reform...Why are you floating your currency? Because they're adding value to it...Be ready at any moment
Walkingstick [Iraqi Bank friend Aki in Michigan] Question presented to Aki - Concerning the statement that was made by a representative of the WTO [about Iraq launching a fully convertible currency in October - See Frank26 post below]? AKI: I didn't hear anything about October... WALKINGSTICK: I would call it scuttlebutt because the interpreter was telling me that he says he's not sure about that...but he knows there are rumors out there about when this is going to happen. AKI: I did hear about the WTO guy. Maybe he's talking about a new currency that would be convertible prior to October but there is no mention at the banks about October being the date. If anything I have heard it is before that.
Ep 3425a - The [CB] Will Not Be Able To Weather The Economic Storm That Is Approaching
X22 Report: 8-13-2024
The debt level has grown to an unsustainable level for the people, as time goes the people will not be able to survive. The system is breaking apart and no matter what the Biden admin does it will fail. The [CB] will not be able to handle the economic storm that his approaching.
Economy And The Markets. WHAT IS ABOUT TO HAPPEN WILL BLOW YOUR MIND!
Greg Mannarino: 8-13-2024
“Tidbits From TNT” Wednesday Morning 8-14-2024
TNT:
Tishwash: Al-Sudani visits London to sign agreements
The British Ambassador to Iraq, Stephen Hitchcock, revealed that Prime Minister Mohammed Shia al-Sudani will visit London to sign some agreements between the two countries.
We want to expand the relationship from the cornerstone, to trade, combating climate change and drugs, and I think Mohammed Shia al-Sudani wants the same thing, and God willing in the coming months he will visit London, and we will sign some agreements," Stephen Hitchens said in a press statement.
TNT:
Tishwash: Al-Sudani visits London to sign agreements
The British Ambassador to Iraq, Stephen Hitchcock, revealed that Prime Minister Mohammed Shia al-Sudani will visit London to sign some agreements between the two countries.
We want to expand the relationship from the cornerstone, to trade, combating climate change and drugs, and I think Mohammed Shia al-Sudani wants the same thing, and God willing in the coming months he will visit London, and we will sign some agreements," Stephen Hitchens said in a press statement.
He added, "This period of the Iraqi Kingdom and the British Mandate, during which there were things we are proud of, including the infrastructure, laws, museum and bridges, and there were things that were investments in the country."
The British ambassador stressed: "We do not have the same values as our predecessors on this issue, and now we have entered a new period in the bilateral relationship, an equal partnership based on mutual respect." link
Tishwash: Iraq signs strategic agreement to modernize trading mechanisms in cooperation with an Egyptian company
The Iraq Stock Exchange announced today, Wednesday, the signing of a strategic agreement to modernize trading mechanisms in cooperation with an Egyptian company.
A statement by the Iraqi Stock Exchange received by the Iraqi News Agency (INA) stated, "In a step aimed at developing and improving the investment environment in Iraq, and under the auspices of the Iraqi Securities Commission, the Iraq Stock Exchange signed a cooperation agreement with the Egyptian Company for Information Dissemination, after intensive discussions that lasted for more than six months."
He added, "The agreement includes licensing, use and maintenance of the remote trading system for investors ( OMS ), broker management ( Back Office ), and portfolio management for investors, for a period of five years."
He added that "signing this agreement represents a qualitative shift in the development of the Iraqi stock market," indicating that "Iraq is committed to providing the latest technologies to investors, which contributes to enhancing confidence and attracting more investments to the Iraqi market."
For his part, the CEO of the Iraq Stock Exchange, Faisal Al-Haimus, pointed out, “The importance of this step, as the remote trading system is a vital addition to our ongoing efforts towards developing the market’s infrastructure. The system’s experience in the Egyptian Stock Exchange has proven its efficiency over the past five years, and we are excited to see its positive impact on our market.”
He pointed out that "the new system includes smart applications that aim to facilitate trading operations and improve the investor experience, which reflects the commitment of the parties concerned to developing the financial sector in Iraq and achieving sustainable growth." link
************
Tishwash: The President of the Republic receives a message from his Chinese counterpart
President of the Republic, Abdul Latif Jamal Rashid, received today, Tuesday, at the Baghdad Palace, the Ambassador of the People's Republic of China to Iraq, Cui Wei, and received from him a message from Chinese President Xi Jinping, congratulating him on his birthday, wishing him success and guidance.
The Chinese President also stressed, according to a presidential statement, his great interest in developing relations with Iraq and his readiness to make joint efforts with President Rashid to continue deepening friendly cooperation and raise the Sino-Iraqi strategic partnership relations to higher levels.
The President of the Republic conveyed his sincere thanks and greetings to President Jinping for his generous feelings, praising the historical relations and bilateral cooperation between the two friendly countries.
During the meeting, the available potential to consolidate the growing relations between the two countries was emphasized, as President Rashid pointed to the need to expand the horizons of joint cooperation in the economic, technological and investment fields, especially the development of infrastructure and services, stressing Iraq's welcome of the diverse Chinese expertise to contribute to the development and growth of the industrial, agricultural and education sectors.
In turn, the Chinese Ambassador, Cui Wei, affirmed his country's commitment to strengthening its relations with Iraq in all fields.
The ambassador also reviewed the political, economic and industrial conditions in China, stressing that the recently held Communist Party meeting focused on strengthening reforms, improving production in all fields and opening up to countries of the world.
Media Department of the Presidency of the Republic link
***********
Tishwash: From Iraq.. A missile attack targets an American base in eastern Syria
On Tuesday evening (August 13, 2024), an American base in eastern Syria was subjected to a missile attack from western Iraq.
A field source told Russian media that "a missile attack targeted the vicinity of the American base in the Conoco gas field north of Deir Ezzor, eastern Syria."
He explained that "the bombing was carried out by a missile barrage from the desert in western Iraq, near the Syrian border."
This bombing comes about a week after the Ain al-Assad base, west of Anbar province, was subjected to a missile attack that resulted in the injury of a number of US forces working as advisors in the international coalition. link
Mot: Me Too ""Earl"" -- Come on ole ""RV"" so we can!!!!
Mot: . Thanx Granny!! -- I'm with Ya!!!!
Seeds of Wisdom RV and Economic Updates Late Tuesday Evening 8-13-24
Good Evening Dinar Recaps,
THESE QUOTES,RESEARCH, AND OPINIONS ARE FROM ASHELEY PROSPER ON X DEFINITELY WORTH A READ!!
We keep telling you XRP is the one. But you just won't listen. Maybe some of these quotes will help you see the truth.
Brad Garlinghouse "XRP is a bridge currency. We believe it has the potential to reduce liquidity costs and enable faster, lower-cost cross-border payments."
Christine Lagarde (President of the European Central Bank) "Ripple is doing a lot of work in facilitating exchanges and making sure that there is no need for a central counterparty, but that we know exactly who is doing what and who is exchanging what."
Good Evening Dinar Recaps,
THESE QUOTES,RESEARCH, AND OPINIONS ARE FROM ASHELEY PROSPER ON X
DEFINITELY WORTH A READ!!
We keep telling you XRP is the one. But you just won't listen. Maybe some of these quotes will help you see the truth.
Brad Garlinghouse
"XRP is a bridge currency. We believe it has the potential to reduce liquidity costs and enable faster, lower-cost cross-border payments."
Christine Lagarde (President of the European Central Bank)
"Ripple is doing a lot of work in facilitating exchanges and making sure that there is no need for a central counterparty, but that we know exactly who is doing what and who is exchanging what."
JP Morgan
"If Ripple wins SEC lawsuit, XRP is poised for significant adoption."
Bank of America (2019 Report)
"Ripple’s technology is attractive for its ability to settle cross-border transactions almost instantly."
David Schwartz
"XRP was designed to be a better Bitcoin."
World Economic Forum
"Ripple’s XRP is one of the most scalable and efficient digital assets available for cross-border payments."
Jesse Lund (IBM)
"Ripple’s approach with XRP is interesting as it provides a digital asset that can settle in real-time across multiple networks."
SBI Holdings
"XRP has the potential to become the global standard in digital currencies for cross-border transactions."
Chris Larsen
"We’re working with regulators, we’re working with central banks. I think that’s an important part of our strategy."
Christine Lagarde
"Ripple has addressed many of the issues associated with cross-border payments, particularly around speed, transparency, and cost-efficiency."
American Express
"Ripple offers a compelling proposition in cross-border transactions, reducing settlement times from days to seconds."
Bank of America
"Ripple’s solution can potentially bring substantial cost efficiencies in our cross-border transactions."
Yoshitaka Kitao
"XRP is the most efficient, scalable digital asset for payments, and it plays a pivotal role in the development of new financial infrastructure."
Cathy Bessant (Bank of America)
"We’ve been in partnership with Ripple for a while. We’re testing and piloting the use of blockchain technology in different areas where we see the potential for immediate value."
Marc Andreessen (Andreessen Horowitz)
"Ripple’s approach to leveraging blockchain for the financial industry shows immense promise. The speed and efficiency gains are remarkable."
Digital Currency Group (DCG)
"Ripple’s innovative approach to cross-border payments is setting new standards in the financial industry, and XRP plays a crucial role in this evolution."
Amazon Web Services (AWS) - Ripple Case Study
"Ripple provides one frictionless experience to send money globally using the power of blockchain."
Ross Leckow (IMF)
"Ripple’s technology can help enhance financial inclusion and improve the efficiency of the global financial system."
Ripple and Apple’s Collaboration with Interledger Protocol (ILP)
"Apple’s integration of Interledger Protocol, which Ripple helped develop, shows the potential for broader adoption of blockchain technology in mainstream tech ecosystems."
Google Ventures
"Ripple’s vision of instant, secure, and low-cost global payments aligns with the future of financial services. XRP’s utility as a bridge currency is an integral part of that vision."
Santander Bank
"We are excited to leverage Ripple’s technology to provide our customers with faster, more secure international payments, allowing us to stay ahead in the rapidly evolving financial industry."
Microsoft’s Azure Blockchain Workbench
"Ripple’s integration with Microsoft’s Azure Blockchain Workbench enables businesses to send and receive cross-border payments with unprecedented speed and security."
Tom Jessop (President, Fidelity Digital Assets)
"We see Ripple and XRP as one of the more mature and viable digital assets in the market, with a clear use case in cross-border payments."
@ Newshounds News™
Source: Twitter
~~~~~~~~~
Big news from the Seeds of Wisdom team! We're expanding and reaching new heights, thanks to the incredible support of Nate (Mr Anonymous) to take this on to help our community. To share valuable insights with even more people, we're launching a YouTube series! 🎥
Our inaugural guest is the knowledgeable Bob Lock who will share his expertise on planning and currency. Get ready to learn and grow! 💡
Don't miss this opportunity to gain wisdom from the best!
📣 Listen: YouTube ----- Date and Time To Be Announced Soon
Please Like and Subscribe on YouTube
Bob Lock: Link
Newshound's News Telegram Room Link
Q & A Classroom Link
All Rooms: Link
Website:Link
Subscribe:Link
@ Newshounds News™
~~~~~~~~~
Superstate integrates Chainlink for tokenized treasury fund
Superstate, a blockchain-based asset management firm, has integrated Chainlink’s technology as it taps into the growing tokenization market.
The asset manager will leverage the Chainlink Data Feeds to bring net asset value data for its tokenized treasury fund on-chain. In the announcement Superstate stated it aims to enhance the composability of its Superstate Short Duration US Government Securities Fund by utilizing Chainlink’s technology.
The integration enables the firm to access crucial off-chain data, essential for market pricing, utility, and transparency.
@ Newshounds News™
Source: Crypto News
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IOTA launches blockchain tool to simplify music rights management
IOTA has introduced a new blockchain-based tool aimed at simplifying music rights management in the film industry.
IOTA (IOTA), a distributed ledger focused on the exchange of value and data, has unveiled a blockchain-driven tool designed to transform the management of music rights in films, addressing what the project describes as a traditionally time-consuming process.
The new solution, developed under the European Blockchain Pre-Commercial Procurement initiative and funded by the European Commission, leverages distributed ledger technology to streamline negotiations and secure intellectual property rights more efficiently, according to an Aug. 12 blog announcement.
The core of IOTA’s latest solution is the Smart Contracts for Media system, which automates contracts between film producers and rights holders. These smart contracts are self-executing digital agreements, intended to reduce the time traditionally required for negotiations and payment processes.
IOTA claims its solution promises to “revolutionize the way intellectual property rights are handled,” enabling producers to select predefined contract templates, make real-time adjustments, and finalize terms digitally. Once agreed upon, the smart contracts are deployed on the IOTA Smart Contract Chain, ensuring the agreements are immutable.
The tool also incorporates non-fungible tokens (NTFs) to represent rights and obligations. These NFTs contain unique identifiers that link to detailed data stored off-chain using the InterPlanetary File System (IPFS), a decentralized storage solution.
@ Newshounds News™
Source: Crypro News
~~~~~~~~~
Coinbase Urges SEC to 'Abandon' Its 'Irrational' DeFi Exchange Rule
The SEC’s move to regulate DEXs would make it functionally impossible for DeFi projects to exist in the United States, Coinbase wrote Monday.
Coinbase once again came out swinging Monday against the U.S. Securities and Exchange Commission (SEC’s) yearslong attempt to expand a bureaucratic definition of the word “exchange,” which if successful would bring the DeFi ecosystem firmly under the regulator’s purview.
In an eight-page comment submitted to the SEC on Monday, Coinbase Chief Legal Office Paul Grewal chastised the potential rule change as “arbitrary” and “irrational” in several respects, and urged the agency to “abandon its effort” to apply the proposed rule to decentralized exchanges (DEXs).
Fundamental to Coinbase’s argument against the change is the SEC’s continued refusal to concede that DEXs—which are run by automated, on-chain software (aka smart contracts) with little to no human management—are by definition incapable of complying with rules and standards designed for traditional securities exchanges like the New York Stock Exchange.
“DEXs cannot comply with registration and disclosure requirements designed for legacy financial exchanges managed by centralized companies,” Grewal wrote.
“And even if DEXs could somehow comply with existing registration and disclosure rules, the Commission does not explain how SEC-registered DEXs could facilitate the trading of digital assets.”
Because of these apparent tensions, Coinbase implied in its letter to the SEC today, the agency may well be attempting to outlaw DEXs implicitly, without saying so.
“The SEC benefits from robust engagement from the public and will review all comments submitted during the open comment period. Generally, we respond to comments received as part of the final rulemaking and not beforehand," an agency spokesperson told Decrypt following the initial publication of this story.
Coinbase further accused the SEC of failing to complete a proper cost-benefit analysis of the proposed rule change. That’s due to the fact that the regulator has only stated in blanket terms that it would regulate exchanges that deal in “crypto asset securities,” without defining which sorts of digital assets constitute securities and which do not.
The SEC’s longstanding refusal to draw such a line—between which cryptocurrencies it views as securities, and which it does not—remains one of the crypto industry’s greatest grievances with the agency. Insteading of putting forth such a framework, the SEC has opted to sue crypto projects it alleges constitute illegal securities offerings, one at a time.
The regulator has even, in recent months, appeared to flip-flop on its own views of certain crypto assets. For over a year, for example, the SEC reportedly secretly considered Ethereum to be a security. Then, in May, the agency abruptly changed course, approving the trade of spot Ethereum ETFs on Wall Street.
Because the SEC has not clearly defined which cryptocurrencies it considers to be securities, Coinbase wrote today, it cannot possibly have properly calculated an accurate cost-benefit analysis determining how much financial activity would fall under its purview if DEXs were regulated like securities exchanges.
“The SEC cannot rationally make these calculations without a single, stable view on which digital assets are subject to the securities laws,” Grewal wrote.
@ Newshounds News™
Read more: Decrypt
~~~~~~~~~
The SEC has been going after numerous crypto companies for billions of dollars. There was an article yesterday with negative comments on CFTC rules too. Congress needs to get some of those bills passed that define what entity regulates what so America can catch up to other countries regulating our new financial system. Taking companies to court and fining them billions of dollars is just hindering our progress.
I found these two bills that were introduced in the Senate two years ago but never passed.
Senate Bill S. 4760
Digital Commodities Consumer Protection Act of 2022 (DCCPA)
Introduced in Senate (08/03/2022)
To amend the Commodity Exchange Act to provide the Commodity Futures Trading Commission jurisdiction to oversee the spot digital commodity market, and for other purposes.
https://www.congress.gov/bill/117th-congress/senate-bill/4760/text
Senate Bill S.5030
Digital Trading Clarity Act of 2022 (DTCA)
Introduced in Senate (09/29/2022)
This bill establishes a safe harbor from securities regulation for certain digital asset exchanges and intermediaries. This safe harbor applies if (1) such digital asset is not classified as a security by the Securities and Exchange Commission (SEC) or by a U.S. court; and (2) the exchange or intermediary complies with requirements regarding listings, customer protection, and disclosures.
If a digital asset is determined to be a security and otherwise meets these requirements, the exchange or intermediary has a two year period during which the SEC may not pursue specified enforcement activity against the exchange or intermediary.
https://www.congress.gov/bill/117th-congress/senate-bill/5030
@ Newshounds News™
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Can Elon Musk Save The US Dollar?
Can Elon Musk Save The US Dollar?
Notes From the Field By James Hickman / Simon Black August 13, 2024
I was one of the millions of people listening to the live conversation last night between Elon Musk and Donald Trump.
And if you missed it, Trump was Trump. You pretty much know exactly what you’re getting with him, and there weren’t any major revelations.
Elon, on the other hand, came off as a genuinely concerned citizen who recognizes the problems facing the country and is exasperated why the people in charge aren’t implementing common sense solutions.
Honestly, I feel bad for the guy; Elon is blasted as a hard-core, right-wing nut job… and there are people who literally want to put him in prison because of his views.
But last night he said things like:
Can Elon Musk Save The US Dollar?
Notes From the Field By James Hickman / Simon Black August 13, 2024
I was one of the millions of people listening to the live conversation last night between Elon Musk and Donald Trump.
And if you missed it, Trump was Trump. You pretty much know exactly what you’re getting with him, and there weren’t any major revelations.
Elon, on the other hand, came off as a genuinely concerned citizen who recognizes the problems facing the country and is exasperated why the people in charge aren’t implementing common sense solutions.
Honestly, I feel bad for the guy; Elon is blasted as a hard-core, right-wing nut job… and there are people who literally want to put him in prison because of his views.
But last night he said things like:
- “the legal system is supposed to be protecting the public from violent criminals”- “we want safe and clean cities”- “we want secure borders”- “we want sensible government spending”- “we want to restore both the perception and the reality of respect in the judicial system”- “I’m pro-environment, but I don’t think we should vilify the oil and gas industry”
These are clearly not radical values, and my guess is that most people in the country would probably agree with his values.
About an hour into the call, Elon outlined what he thinks would bring prosperity back to the United States:
1) “Solve government overspending”. He correctly explained that extreme government deficits create inflation… so if you want to really get inflation under control, you have to stop the spending.
In theory, this shouldn’t be hard.
The Treasury Department expects to collect nearly $5 trillion in tax revenue this Fiscal Year (which ends on September 30th). And $5 trillion is an absurd amount of money.
As recently as five years ago (FY2019), $5 trillion would have been enough to pay for ALL federal spending and still have a surplus of more than $500 billion to start paying down the debt.
So, if they had simply frozen spending in place at FY2019 levels, even after adjusting for inflation and higher interest rates, $5 trillion in tax revenue this year should still be sufficient to keep the national debt from growing any further. And that’s without making any significant cuts to government spending.
But spending has increased by nearly 50% in five years. Is the government 50% better? Do taxpayers receive 50% more service? Clearly not. They’ve just let spending spiral out of control with no commensurate benefit to the taxpayer.
2) Deregulate.
Elon’s second point was that a lot of regulations are destructive and make no sense. Volumes and volumes of rules hold back businesses from innovating, hold back citizens from being productive. And that’s what the country truly needs to be prosperous-- innovation and productivity.
And those were his two big points… and that if a government can do those two things, the future can be much brighter.
He’s right, and the math clearly supports this view.
Various Presidential administrations over time have increased, or decreased regulations. When there have been decreases in the number of regulations, US economic productivity tends to increase, and overall GDP growth rises. During periods of growing regulations (like right now), productivity wanes.
Higher productivity means that the economy grows faster. And a faster growing economy means more tax revenue for the government. Combined with spending constraints, this would leave plenty of money left over to pay down the debt… or simply set aside for a rainy day.
Imagine being able to obliterate a major threat to the nation, or shore up security to the power grid, or support an ally, without having to go into debt? It’s unimaginable given today’s national finances. But with real productivity growth and sensible spending, it’s absolutely a reality.
Failing to do BOTH of these things most likely results in a pretty bad outcome for the United States.
If the debt keeps spiraling out of control, and government regulators continue to constrain productivity, it’s extremely difficult to imagine the US dollar remaining the world’s primary reserve currency.
Continued deficit spending and a ballooning national debt will create even more inflation and cause foreign governments, central banks, and businesses to lose confidence in the dollar. It’s already happening… and one of the reasons why gold is hovering near its all-time high.
The US dollar’s global reserve status is one of America’s premier financial benefits. Losing it would be disastrous… and Elon’s approach is pretty much the only way to save it.
Will it happen?
To Read More:
https://www.schiffsovereign.com/trends/can-elon-musk-save-the-us-dollar-151290/
Death of the Fiat Currency Regime and the Rise of Gold & Silver as Sound Money
Death of the Fiat Currency Regime and the Rise of Gold & Silver as Sound Money
VRIC Media : 8-13-2024
Lynette Zang and Rafi Farber believe that a new sound money paradigm is approaching as out-of-control government debt worldwide, geopolitical uncertainty, and the devaluation of fiat currency rapidly accelerates.
The duo discuss how financial engineering and manipulation of the economy has distorted markets beyond recognition and how to prepare for the inevitable collapse of the illusion and return to reality.
Death of the Fiat Currency Regime and the Rise of Gold & Silver as Sound Money
VRIC Media : 8-13-2024
Lynette Zang and Rafi Farber believe that a new sound money paradigm is approaching as out-of-control government debt worldwide, geopolitical uncertainty, and the devaluation of fiat currency rapidly accelerates.
The duo discuss how financial engineering and manipulation of the economy has distorted markets beyond recognition and how to prepare for the inevitable collapse of the illusion and return to reality.