"The Great Gold & Silver Rush of the 21st Century Is Here"

"The Great Gold & Silver Rush of the 21st Century Is Here" | Mike Maloney LIVE | Rebel Capitalist 1

8-15-2024

Join us for an eye-opening live presentation with Mike Maloney, founder of GoldSilver.com and author of "Guide to Investing in Gold and Silver" and “The Great Gold & Silver Rush of the 21st Century”.

In this thought-provoking discussion, Mike delves into the fundamental distinction between money and currency. Discover the historical significance of gold as money and witness how the U.S. dollar has drastically lost its value over time.

Learn about Mike's journey into precious metals investment and how Robert Kiyosaki played a pivotal role in his career.

 Explore the essential attributes of true money, including being a store of value, unit of account, and medium of exchange. Find out why gold has stood the test of time as a reliable store of value, while fiat currencies like the U.S. dollar continue to erode in value.

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

From Recaps Archives

The "Hidden Secrets of Money" series by Mike Maloney

Money vs Currency - Hidden Secrets Of Money Episode 1 - Mike Maloney

https://youtu.be/DyV0OfU3-FU?t=1

Seven Stages Of Empire - Hidden Secrets Of Money Episode 2 - Mike Maloney

https://youtu.be/EdSq5H7awi8?t=1

This Timeline Shows The Death Of The US Dollar As World Reserve - Hidden Secrets Of Money Episode 3

https://youtu.be/y-IemeM-Ado?t=1

The Federal Reserve: Biggest Scam In The History Of Mankind - Hidden Secrets of Money Ep 4

https://youtu.be/iFDe5kUUyT0?t=1

Where Does Money Come From? - Hidden Secrets Of Money Ep 5 - Mike Maloney

https://youtu.be/OQWMd_NPSBA?t=1

Top 4 Reasons For Deflation BEFORE Hyperinflation - Hidden Secrets Of Money Episode 6 (Mike Maloney)

https://youtu.be/8GP87dgTqF8?t=1

The Money Illusion - Hidden Secrets Of Money Episode 7 - Mike Maloney

https://youtu.be/P4_1pwsm5LY?t=1

From Bitcoin To Hedera Hashgraph (Documentary) Hidden Secrets Of Money Episode 8

https://youtu.be/SF362xxcfdk?t=1

Fall Of Empires: Rome vs USA (Hidden Secrets Of Money Ep 9)

https://youtu.be/OuOcnGAv4oo?t=1

American Bread & Circus (Hidden Secrets Of Money Ep 10)  https://youtu.be/fiCKf7hfagk?t=1

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 8-18-24

Good Afternoon Dinar Recaps,

Colorado Church group tokenizes $2.5M chapel

This may be the first tokenized church in the world.YEP

A network of affiliated church groups called the “Colorado House of Prayer” has tokenized its main chapel in an effort to purchase the $2.5 million building. 

The pastor heading the project, Blake Bush, says he was compelled by a higher power to use blockchain technology as a tool for advancing the group’s mission.

Tokenize the building

According to a report from Forbes, Bush’s congregation and other church groups had been renting the building from its owner, a local businessperson who also owns a car dealership.

The 11,457-square-foot building, called “Old Stone Church” due to its stone exterior, was purchased by its current owner in 2022 at a cost of $2.2 million. Reportedly, Bush and the Colorado House of Prayer group intend to purchase the building for $2.5 million

Bush says he came up with the idea of tokenizing the building — putting it on the blockchain as a digital asset that can be split into shares — after a spiritual experience.

“I heard the Lord say, ‘tokenize the building,'" Bush told Forbes, later adding that he had been “praying for this for years” and that God had told him to “go get my house.”

Blockchain and real estate

In order to accomplish his holy mission, Bush and the group created “Stone Coin,” a digital asset used to raise money for the purchase of Old Stone Church. The coin is tied to a real estate token created by REtokens and running on the Polymesh private blockchain.

Like any tokenization project, the results will depend on the amount of positive token-flow and reactive value. The project is reportedly seeking investors after having raised about half of its goal.

In the future the token’s board, which includes Bush and other religious leaders as well as the mayor of a nearby town, plans to open up token sales to non-parishioners. While this could potentially put the digital asset ownership at risk of an outsider takeover, Bush doesn’t appear to be too concerned about that.

When presented with the notion that, for example, Satanists could end up making a run on the church’s tokens, Bush quipped that he’d be grateful, “let’s introduce you to Jesus.”

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

“How does the ILP have global scalability?”

Because it is based on the internet.🎯  The internet is technology that is already global, has unlimited volume, and unlimited scalability..  And can reach any Human with an internet connection.💯

Now, overlay the internet with the ILP, and you have an international payments routing system that finds that most efficient route online to facilitate transactions between payment systems.  

Powered by the XRPL🧩

Ripple’s solution is a hybrid solution that combines the ILP and the XRPL, as illustrated below as well.✅

@ Newshounds News™

Source:  SMQKE (@SMQKEQG) on X  ,   Nth Exception

☝️☝️☝️ THIS IS THE QFS ☝️☝️☝️

~~~~~~~~~

Newly Released Map Illustrates XRP’s Role as a Future World Reserve and Bridge Currency

▪️ XRP may play a top role in bridging different countries’ CBDC in a possible global monetary reset.

▪️The cryptocurrency is best suited for this purpose owing to its cross-border settlement capabilities.

XRP will likely serve as a world reserve and bridge currency in the future. Per a recently published Map, this proposition comes amid heightened discussions of a potential restructuring of the international monetary system.

XRP’s Role as Global Reserve and Bridge Currency

Crypto enthusiast Edward Farina highlighted the map in a post on the social media platform X. The map describes how coins like XRP can serve as a global reserve asset, with gold as an essential anchor.

As a result, it challenges the long-running discussion surrounding gold as the cornerstone of a stable monetary system.

A map presents how $XRP could act as a World Reserve Currency and Bridge Currency 🔥  

See Twitter Link Below for entire map

Gold has historically been seen as a reliable store of value and a hedge against inflation. However, its role in modern finance is increasingly being viewed through the lens of digital transformation.

The map outlines a tiered structure for global currencies. At the top of the rank is the SDR, an international reserve asset developed by the International Monetary Fund (IMF). Next on the rank are Tier 1 currencies, which may include the U.S. Dollar, Euro, Japanese Yen, and others from top nations.

Beneath these are Tier 2 assets encompassing Central Bank Digital Currencies (CBDCs). These assets would be connected to the currencies of different countries and issued by their central banks.

 This means bridge currencies like XRP can facilitate conversions and transactions between these government-backed digital currencies, allowing them to interact seamlessly across national boundaries.

The map implies that XRP could help speed up the conversion of other CBDCs. This expectation is based on the digital asset’s ability to provide liquidity and reduce friction in international transactions.

XRP’s role as a bridge currency was accelerated during COVID-19 due to difficulties in making cross-border payments. At the time, Ripple’s head of global banking, Marjan Delatinne, said XRP is well positioned to bridge multiple or different CBDCs.

XRP’s role as a bridge currency is crucial due to the multiple digital currencies that are used globally. XRP can help ensure interoperability between these digital currencies for efficient global commerce.

@ Newshounds News™

Read More:    Crypto News Flash  ,   Twitter

~~~~~~~~~

Newshound's Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

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Thank you Dinar Recaps

More News, Rumors and Opinions Sunday Afternoon 8-18-2024

KTFA

Clare:  Baghdad hosts regional technology summit

8/18/2024 Baghdad

 Baghdad witnessed the launch of the Huawei Middle East and Central Asia Business Tour, which brought together more than 200 of its partners and customers from various industries to explore new avenues for growth and win the future of digital transformation in Iraq. The event highlights the importance of developing a stronger partnership ecosystem in Iraq and stimulates in-depth discussion on how comprehensive ICT solutions can enable key sectors including education, healthcare, government, real estate, and finance.

In his opening remarks, Mr. Alex Zhang, Vice President of Enterprise Business at Huawei Middle East and Central Asia, emphasized the importance of digital transformation for Iraq, saying: “Digital transformation is not just a strategic imperative for Iraq, but a path to sustainable growth.

By leveraging advanced technologies and building strong partnerships, we can overcome challenges and open up unprecedented horizons for progress in the fields of government, education, healthcare, real estate, and financial services. Huawei is committed to investing in Iraq’s ICT infrastructure and strengthening the partnership ecosystem to drive this transformation.”

Rafid Abbas Kheder, Member of the Sub-Board of Directors of the Commercial Environment, also delivered the keynote speech titled “In Iraq for Iraq”, where he emphasized: “Huawei has been operating in the Iraqi market for more than 20 years and is dedicated to becoming a major contributor to the national digital economy. With an open mindset and continuous collaboration strategy, Huawei will work hand in hand with all partners and customers to achieve shared growth and success and start a new chapter in a thriving digital economy in Iraq.”

Huawei experts presented a comprehensive range of sector-specific solutions, each designed to empower key sectors in Iraq:

- *Education: Building a dynamic learning environment through robust network infrastructure, secure data centers, and smart classroom solutions.

- *Healthcare: Improving patient care and operational efficiency through smart wards, advanced medical imaging technology, and reliable hospital network solutions.

- *Finance: Securing sensitive financial data through robust networks and advanced storage solutions, allowing financial institutions to operate efficiently and drive economic stability.

- *Government: Enhance government services and decision making through smart office systems, advanced campus networks, and lightweight data centers to improve operations.

- *Real Estate: Leveraging Huawei's smart property management technology, creating a sustainable and efficient environment that optimizes energy consumption and enhances tenant experiences.

 In the evening session, Jason Yang, Huawei’s Business Director for the Middle East and Central Asia, emphasized Iraq’s potential for digital growth, saying: “We see tremendous potential in the digitization of government and businesses in Iraq. Huawei’s commitment to strategic investment, strong partnerships, and partner-driven leadership approach puts the company at the forefront of driving this digital transformation.”

The event also introduced HUAWEI eKit, a platform designed for SMEs. This platform combines multiple functions including marketing, transactions, services, and partner operations, and offers a range of products that include networking products and collaboration tools specifically designed to meet the needs of SMEs.

Huawei’s trade show is a milestone in the digital transformation journey to provide an open and collaborative platform for the Iraqi market. The event was well received by attendees and reinforced Huawei’s role as a strategic partner in the region through its solutions.  LINK

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Clare: Al-Sudani: The government pays great attention to the electricity file

8/18/2024 Baghdad

Prime Minister Mohammed Shia Al-Sudani confirmed today, Sunday, that the government pays great attention to the electricity file.

The Prime Minister's Media Office stated in a statement received by "Al-Eqtisad News" that "Al-Sudani chaired a meeting of the electricity team concerned with the electrical energy file, in the presence of the Minister of Electricity."

The meeting witnessed "discussing the development of a new technical and economic vision to address the problem of the shortage in the provision of electrical energy in the short and long term, and developing rapid solutions that would contribute to providing electricity to citizens and other vital sectors," according to the statement.

The meeting also discussed "the mechanism adopted to provide fuel, and the financing mechanism in the new economic model for electricity production projects, which the government has planned as part of its new vision in this important sector."

During the meeting, the Prime Minister stressed that "the government pays great attention to the electric power file, as it is one of the foundations on which economic plans and infrastructure projects in all sectors depend, and to create a development renaissance in the country."    LINK

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

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

Frank26   [Iraq boots-on-the-ground report]  FIREFLY:
Saleh...was talking about...raising the value of the currency.  He talked about it for 45 minutes.  FRANK:  These are the people we want to listen to.  They're the ones that Sudani is sending out to them...Everyday seems to be filled with monetary reform education to you Iraqi citizens.  Don't you love it because this is what is supposed to be happening right now.  They are preparing you for what they're going to give you, what they promised you.  You are so close to receiving everything that they were talking to you about...

Babysmom  WE SURELY ARE NOT IN THE SAME POSITION WE HAVE BEEN IN PAST YEARS...THIS IS DEFINITELY A DIFFERENT PLACE THAN WE HAVE EVER BEEN...OUR BEST IS YET TO COME!...

This is what we investors looking for iqd # dinar

Nader:  8-18-2024

https://www.youtube.com/watch?v=NMLAv3JOC3I

Three Currencies to Watch and Why IQD TRY ARS

Edu Matrix:  8-18-2024

Three Currencies to Watch and Why IQD TRY ARS - Rates These countries are on the path to a high GDP which could easily result in a higher currency rate.

https://www.youtube.com/watch?v=fN2uFrxqQIo

“Tidbits From TNT” Sunday 8-18-2024

TNT:

Tishwash:  Is it time to remove the zeros?

Yasser Al-Mutawali 

There is an economic principle in the free market economy, capitalism, or whatever you call it, to treat the defect or distortion in the economic structure as a result of the shock.

That is, accepting the financial, economic and social effects of this measure in the hope of improving the economic reality.

In order to clarify this principle and analyze its effects as a means of spreading economic culture, we will address the issue of deleting zeros from the currency in order to reduce its effects on the size of the monetary mass and the value of money. The more difficult and complex the solutions to reduce the dollar exchange rate between the official and parallel rates become, the more calls for the necessity of deleting zeros increase, believing that it is one of the solutions.

Here, if the decision is made to remove zeros, this means treating the defect with the shock effect, but we must first present the most prominent advantages and disadvantages of removing zeros and compare them to reach an optimal solution and a sound decision.

This is the best way to spread the culture of discrimination among the public, rather than addressing specialists because they are aware of the optimal solution. One of the most prominent advantages of removing zeros is reducing the size of the monetary mass, not its value (simply the number of banknotes used in circulation). This advantage results in the ease of carrying cash amounts and protecting them from theft or damage.

As for the disadvantages, deleting zeros will create countless social problems that we can do without at this stage due to the inability to convince the public to accept the decrease in the size of the monetary mass while acknowledging that the real value of the money is not affected. The issue is related to the mind and the memory’s preservation of large amounts, and then the solution of commercial and personal contracts and agreements creates disagreements and an inability to reach an understanding.

From the above analysis, it is clear that the procedure of deleting zeros is not appropriate at the present time. However, with the use of electronic payment operations, the environment will be mature and acceptable for the idea of ​​implementing the decision to delete zeros, and the process will be automatic without the citizen feeling it. But is it time to issue the decision? We see that it is too early due to the recent introduction of electronic payment technology in commercial, market, official and private transactions. The experience is still limited to absorbing such a transformation, and when the percentage of acceptance and use of electronic payment tools reaches 90 percent of citizens, then the decision to delete zeros can be implemented easily and smoothly. It takes time to spread the culture of electronic payment, and it is required to intensify media and advertising campaigns to focus it in the citizen's memory and accept it. In such a case, the concerned authorities should reduce the costs of using electronic payment and impose strict control over fraud and manipulation, and then expand and diversify electronic payment companies throughout the country.

Those concerned should start with state institutions in using electronic payment for all transactions, and then the culture of electronic payment will expand.  link

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Tishwash:  The environment is fertile for investment and solid global companies.. Parliament is "optimistic" about the government and is monitoring

 Today, Sunday (August 18, 2024), the Parliamentary Investment Committee described the investment companies operating in Iraq as “solid and international,” stressing that Parliament monitors their work .

Committee member Mohammed Al-Ziyadi told Baghdad Today, "All investment companies operating in Iraq are solid and international, and have many businesses in different countries. Any company operating in Iraq works according to specifications, and its file is audited and all its previous businesses in different countries are reviewed," stressing "the need for Parliament to monitor the work of these companies."  

He added, "Iraq is not obligated to introduce any unsound foreign company, especially since Iraq has an important and fertile investment environment and all international companies have a real desire to work within it, especially in light of the security and political stability after the formation of the current government."

Since the first day that Mohammed Shia al-Sudani assumed power in the country, he stressed his keenness to attract solid international companies to implement road, bridge and infrastructure projects in Iraq. 

Here, the Parliamentary Transport Committee confirms the success of the Iraqi government in developing external roads and paying attention to this file. 

The head of the committee, Zahra Al-Bajari, told Baghdad Today, Saturday (August 10, 2024), that “the government has succeeded in developing many external roads between the governorates, and there is a clear and tangible improvement in those roads, through paving and tiling,” noting that “certainly this matter has contributed greatly to reducing traffic accidents, which used to occur on a daily basis due to the deterioration of those roads,” and she added: “We still need more attention to this file.” 

Prime Minister Mohammed Shia al-Sudani has repeatedly stressed that his government is moving forward to fulfill its promises to implement service projects in Baghdad and the governorates. On May 27, 2024, the prime minister said, at the Rustumiyah, Al-Muhandisin and Al-Shaljiya bridges, as part of the first package of projects to ease traffic congestion in the capital, Baghdad, that his government is moving forward to fulfill its promises to the people and implement service projects in Baghdad and the governorates, indicating that "there are 4 projects at the level of bridges and overpasses in Anbar, Diwaniyah, Dhi Qar and Maysan, which will be opened within the next three months."   link

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Tishwash:  Has the spark ignited in the Iraqi dinar and the near-total collapse?

Economic expert Mustafa Hantoush said today, Saturday, that the current thinking about changing monetary policies for the next stage is incorrect, regardless of the people who will be nominated for the position of governor.

Hantoush told the “Iraq Observer” agency, “Iraq is currently going through a phase of almost complete collapse in monetary policies, which are: “the policy of preserving the national banking system - the policy of international monetary relations - the policy of protecting the local currency against foreign currencies.”

dollar mill

The economic expert continued: “In addition to the policy of activating banking operations and supporting the Iraqi market - the financing policy supporting the Iraqi industrial, agricultural, tourism and other sectors - the policy of the technical legal banking opinion supporting the movement of markets flexibly - the policy of activating the tools of the money market in the stock market - the policy of supporting electronic transactions.” Therefore, the next stage must be to rescue monetary policies through national monetary and banking plans.

Economic data

Globally, the dollar approached its highest level in two weeks against the yen after its largest one-day gains against its major counterparts in four weeks, as strong US economic data eliminated fears of recession.

New procedures

The dollar was particularly strong against the Japanese currency thanks to higher Treasury yields as traders scaled back bets that the Federal Reserve will be forced to take aggressive easing measures next month.

Risk-sensitive currencies such as the pound were strong as an improving economic outlook lifted stocks.

The dollar index, which measures the greenback against six major currencies including the yen, the pound and the euro, was little changed at 103.20 after rising 0.41% overnight, its biggest gain since July 18.

The dollar fell slightly to 149.11 yen, but remained close to yesterday's high of 149.40, a level last seen on Aug. 2.

The Commerce Department said retail sales rose 1.0% last month, beating expectations for a 0.3% gain. Separate figures showed 227,000 Americans filed for unemployment benefits last week, fewer than the 235,000 expected.

Traders are convinced that the Federal Reserve will cut interest rates on September 18, but the size of the cut is being discussed, according to a statement.

The odds are currently at 25% for a large 50 basis point cut, down from 36% the day before, according to CME Group's FedWatch tool.

Low salaries

Surprisingly weak monthly payrolls data at the start of the month has raised the odds of a larger cut to 71%.

Sterling was slightly higher at $1.2859, building on a 0.21% advance overnight. The British currency got additional support from strong GDP figures on Tuesday.

The euro was steady at $1.0973 after falling 0.36 percent in the previous session.

The risk-sensitive Australian dollar was steady at $0.66105 after advancing 0.2 percent the previous day after data showed a much larger-than-expected increase in jobs.  link

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Tishwash:  Controlling 80% of currency smuggling in Iraq.. 6 qualitative strikes "paid off" and efforts continue

 The Parliamentary Security and Defense Committee revealed, today, Sunday (August 18, 2024), the secrets of 6 qualitative strikes against what it called hard currency smuggling mafias in Iraq.

Committee member MP Yasser Iskandar Watout said in an interview with Baghdad Today, "Smuggling hard currency in all its forms is a drain on the country's economic capabilities and leads to pressure on the markets by raising exchange rates, which leads to an increase in prices."

"There are efforts being made, some of which are exceptional, through the reports we receive that reflect the continuation of implementing a series of strategies to reduce the smuggling of hard currency, which has been controlled by up to 80% in recent months through the efforts of the Ministry of Interior and its formations with the Central Bank, which has achieved positive results in this regard," added Watout.

He pointed out that "6 operations took place in the past months, representing qualitative strikes against the hard currency smuggling mafias in Iraq, which bore fruit, explaining, "But has smuggling ended completely? The answer is no, and efforts are continuing to end these illegal acts, which are taking place with complications that require intensive and doubled work by the competent authorities."

Financial and economic expert Nawar Al-Saadi revealed on Friday (August 16, 2024) the importance of the benefits of “digitizing” financial transactions for Iraqi banks, while pointing out that digitization can enhance financial inclusion by attracting users who do not deal with traditional banks by providing easy-to-access and easy-to-use services.

Al-Saadi told Baghdad Today that “digitizing financial transactions in Iraqi banks can provide significant benefits, especially in terms of reducing currency smuggling,” indicating that “by adopting digital systems, banks can track all financial transfers with greater accuracy and transparency. This means that each transaction is automatically recorded and saved in a central database that can be reviewed at any time. This allows the relevant authorities to monitor and quickly detect suspicious financial activities, making it difficult for smugglers to exploit the financial system to smuggle currencies.”

“Digitizing the banking system contributes to reducing money laundering cases, as these operations usually depend on exploiting loopholes in traditional systems, but with an advanced digital system, these operations become more complex. Digitization also allows the use of advanced technologies such as artificial intelligence to analyze patterns in banking data and identify any abnormal or suspicious transactions,” he added, stressing that “this helps prevent money laundering by early identification of unusual activities and reporting them to the competent authorities.”

Al-Saadi explained that “to implement this digital transformation in Iraq, there is a need for investments in technological infrastructure and developing the institutional capabilities of banks,” noting that “this requires providing modern technology, training employees to use it effectively, in addition to developing legislation and laws that protect users and encourage digital transactions. It is also important to enhance customer awareness of the benefits of digital transactions and build their confidence in the new systems.”

He stressed that “digitization in banks contributes to achieving more transparency and credibility in the financial system, as each transaction can be easily tracked and reviewed. It also improves the operational efficiency of banks by completing transactions faster and at a lower cost. In terms of security, digitization provides higher levels of protection against fraud and theft through advanced encryption technologies.”

The financial and economic expert concluded by saying, “Digitization can enhance financial inclusion by attracting users who do not deal with traditional banks by providing easy-to-access and easy-to-use services. Digitizing financial transactions in Iraqi banks also has great potential to enhance economic stability and reduce the risks associated with money laundering and currency smuggling, leading to a safer and more efficient financial system   link

Mot: . How Long Does it Take for ~~~~

Mot:  what a Team!!! 

News, Rumors and Opinions Sunday AM 8-18-2024

Geopolitical Analyst: BRICS No Longer Attaching Importance to the US Dollar

Sunday, 18 August 2024

In a world where geopolitical tensions often dictate the ebb and flow of energy markets, Iran’s oil exports are demonstrating a remarkable resilience. Recently, Petroleum Minister Javad Owji announced that Iran is successfully exporting oil to over 17 countries, presenting a compelling narrative of adaptation and survival.

This announcement reflects not just the ingenuity of the Iranian oil sector but also highlights the evolving dynamics in global energy markets, particularly in the context of U.S. sanctions and Iran’s recent engagement with BRICS.

For years, Iran’s oil industry has operated under the heavy burden of economic sanctions imposed by the United States. These sanctions aimed to cripple the country’s vital revenue stream and limit its global oil market access. However, Minister Owji’s remarks signal a significant pivot. Iran has managed to neutralize these sanctions, indicating that the nation’s oil exports are still viable despite the economic pressures.

How has this been achieved? The answer lies in Iran’s strategic partnerships and a shift in the geographic focus of its oil trade. Instead of relying solely on traditional markets, Tehran has sought new buyers in Asia, Europe, and elsewhere, establishing relationships that circumvent traditional trade routes and channels. These efforts not only address immediate economic concerns but also underscore a broader trend of nations diversifying their energy sources to mitigate risks associated with geopolitical instability.

An essential factor in Iran’s oil export strategy has been its recent accession to the BRICS alliance—a group that includes Brazil, Russia, India, China, and South Africa. Membership in this influential bloc has equipped Iran with new avenues for economic cooperation, trade, and investment. BRICS countries represent a significant portion of the world’s population and, importantly, a substantial share of global energy demand.

The implications of Iran’s BRICS membership extend beyond mere geopolitical positioning. Enhanced ties with member nations offer Tehran a more stable customer base for its oil exports, less influenced by Western sanctions. Countries like China and India, both energy-hungry giants with a vested interest in stable oil supplies, are increasingly looking towards Iran as a reliable partner, providing Tehran with an essential lifeline in its quest for economic recovery.

As we look ahead, the evolution of Iran’s oil export capabilities presents a fascinating opportunity for potential buyers. With a diversification strategy in place and a growing list of countries willing to engage with Iranian oil, the market is set for a shift. The historical barriers imposed by Western policies are beginning to crumble, creating a ripple effect that could significantly alter the dynamics of global oil trade.

In this new landscape, nations are recognizing the importance of diversification in their energy portfolios. Iran’s ability to offer competitively priced oil could draw in countries that are looking to strengthen their energy security while navigating the complexities of international relations. As Minister Owji stated, Iran is establishing a robust network of trade routes that could enhance its status as a key player in the global energy sector.

Iran’s oil export strategy is evolving in exciting ways, moving beyond the traditional confines of economic sanctions and political isolation. As Javad Owji’s commentary highlights, the Islamic Republic is steadily redefining its role in the international oil market through innovation and adaptability. With membership in BRICS providing a significant boost, the prospects for Iran as a key oil supplier are increasingly bright.

Just as the global energy market continuously transforms, so too does Iran’s strategy to remain competitive. As the world watches, the coming months and years will reveal how effectively Tehran can leverage its partnerships and market opportunities to create a sustainable future for its oil exports. In the midst of adversity, Iran’s tenacity serves as a reminder of the complex interplay between energy, politics, and economic resilience.

Watch the video below from Geopolitical Analyst for more information.

https://dinarchronicles.com/2024/08/18/geopolitical-analyst-brics-no-longer-attaching-importance-to-the-us-dollar/

https://youtu.be/I1Oc2De95To

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

Frank26  Question: "What are you looking for next?"  I'm looking for Sudani to come out and show the Iraqi  citizens their new currency, their lower notes in whatever fashion that he'll take.

Militia Man  The Untied States Treasury has a floor at the Central bank, a whole one.  They're not going  away.  The smuggling of hard currency is about to get a rude awakening...That cash cow people were sapping into that was in the billions of dollars auctions, looks like it's going to be going away as we know it...All that is going to dry up fast.

BREAKING Iraq Delays US Troop Withdrawal This is a MAJOR Development

Edu Matrix:  8-18-2024

THIS IS MAJOR - Iraq Delays US Troop Withdrawal Issues Surrounding Tensions in the Region

https://www.youtube.com/watch?v=7wzQAxz9cq8

Bullion Bulletin - AUGUST 17, 2024

Miles Franklin:  8-18-2024

Welcome to our eighth compilation of videos from the previous week! We are dedicated to bringing you the latest insights and updates in the precious metals industry. In this compilation, you'll find a variety of engaging and informative content featuring expert analysis and discussions.

https://www.youtube.com/watch?v=jz-xRCag174

Government advisor explains the possibility of using the dinar instead of the dollar in oil sales

TNT:

Tishwash:  Government advisor explains the possibility of using the dinar instead of the dollar in oil sales

The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Salih, clarified today, Sunday, what is being circulated in some media outlets regarding the possibility of using the dinar instead of the dollar in oil sales.

Saleh said in an interview with the Iraqi News Agency, followed by "Al-Eqtisad News", that "the adoption of the dinar in the pricing of oil, or what is called (petro dinar), especially when the national currency is not one of the international reserve currencies, requires the availability of foreign reserve currencies or gold, as Russia did when it bought Russian oil with gold-backed rubles, which caused problems that we will come to later."

He added that "these foreign reserves must be available (as a necessary condition) and operate according to a high standard of efficiency that guarantees the stability of the exchange rate linked to oil (the petro dinar) in order to hedge against oil price fluctuations to ensure the stability of the exchange rate (the petro dinar) itself from the beginning."

He added that “linking oil sales to the dinar on a fixed basis with oil prices instead of the foreign reserves base means linking the dinar to the oil asset cycle first, and that oil is sold according to global oil prices. If the exchange rate of the dinar (petrodinar) against the (petrodollar) is fixed, for example, and oil prices fall, then the demand for the dinar for accounting purposes will certainly fall, and the dinar will be exchanged for oil in larger quantities and the demand for the (petrodinar) will be lower, and vice versa.”

He pointed out that "any deviation between oil prices (petrodollar) and the exchange rate (petrodinar) according to international market data will be considered a cost that requires compensation by paying fewer dinars or collecting a higher dinar in the opposite case," indicating that "international reserve currencies are foreign currencies held by central banks and global financial institutions as part of their cash reserves. These currencies are used in international transactions and settling debts between countries, and are a standard for international payments and facilitating global trade."

He explained that "Russia suffered a lot when it priced its exported oil in rubles (petrorubles) and the ruble is a non-reserve currency and committed to a value for the ruble that was initially denominated in gold to ensure the stability of oil revenues. Here (petrorubles) were subject to two asset cycles at the same time (which complicated the scene of selling oil in local currency and stabilizing the value of the petrorubles)."

He pointed out that "the first cycle: is the result of the impact of what is called the gold assets cycle and its impact on the value of the (petroruble) or the local currency denominated in exported oil, while the second: is the oil assets cycle, and its impact on the value of a barrel of oil outside the global price and the reflection of that on oil revenues priced in that currency."

He stressed that "the two cycles are asset cycles that are linked and contradictory at the same time on the value of (the currency priced in the exported oil, such as the petroruble), which made pricing Russian oil in rubles as a local currency and according to the data of the global oil market a very complex issue."

He added that "the principle of using the dinar as a local currency in international oil exchanges (petrodinar) is not without many challenges, which is why those potential challenges must be carefully considered, especially the issue of the flexibility or stability of the value of the (petrodinar) itself to change and fluctuation, especially since we in the oil market are not price makers in it, but rather price takers." 

He noted that "the global oil market will control the fluctuation of the local currency (petrodinar), in addition to the importance of international recognition of it, and the financial infrastructure necessary to support such operations of (petrodinar), in other words, the strategy of relying the value of the currency directly on oil exports may make the value of the local currency vulnerable to fluctuations in the global market."

Saleh added that “the proposal to sell oil in dinars as a local currency must take into account an important theory in global trade called the Law of One Price, which is an economic concept that assumes that the same commodity must be sold at the same prices in all markets when the price is expressed in the same currency, provided that there are no transportation costs or trade barriers such as customs tariffs and others. The Law of One Price is the basis for many economic and trade models, and the theory is based on the assumption that markets operate efficiently.”

He added: “The single price theory is the basic path to understanding the pricing mechanism in foreign exchange markets, as the theory seeks to explain that currency exchange rates always reflect the difference in prices between two countries, and when oil is priced in dollars (petrodollars), the exchange rate of the dinar (petrodinar) should be consistent with oil prices without fluctuation and at the same time consistent with the (petrodollars) and also steadily, and these are two issues that are difficult to control because they are external international factors that determine the value of the local currency so that it operates regularly and in a stable price compatibility with the oil market and international foreign currencies at the same time.”

“For example, if a barrel of oil is sold in the United States at $76 and in Europe at 72 euros, the single price theory predicts that, taking into account the exchange rate between the dollar and the euro, the price of a barrel of oil should be equal after adjusting the currency, provided that there are no transportation costs or trade barriers. This requires that the value of oil sold to Europe and America be consistent with the fluctuations in currency prices in order to ensure that the single price theory is in place. Thus, adopting the local currency in global trade is a very complex issue to ensure the stability of oil prices consistent with the value of the Iraqi dinar (petrodinar), especially in a fixed exchange rate system (exchange rate), unless discounts are granted or differences are charged in oil marketing operations or floating (petrodinar). Then, for example, the Oil Marketing Company (SOMO) will play a dual role in oil and monetary policies, whether in the field of oil pricing or pricing the oil dinar exchange rate (petrodinar),” he continued.

He added: "The strength and stability of the Iraqi dinar will remain linked to the factors of real growth and diversity in the national economy, in addition to achieving an appropriate surplus in the current account of the balance of payments, and linking the national currency to a basket of foreign currencies that provides stability in the value of the dinar itself.

In light of the above, introducing mechanisms for stabilizing the dinar exchange rate into a single rentier economy exclusively based on the oil dinar is an economic trend with ambiguous results and is very vague, in addition to entering the (petrodinar) system, which requires risks (the aforementioned single price theory) to ensure its stability in light of the fluctuations in the oil assets cycle and a single rentier economy, not to mention not knowing the adopted exchange system (petrodinar).

Will it be a fixed exchange system supported by foreign reserves or will it be a flexible exchange system in which the (petrodinar) changes with the change in oil prices? These are paths that have no answers on the ground and are really very ambiguous."  link

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 8-17-24

Good Afternoon Dinar Recaps,

Bank of Ghana unveils draft rules for cryptocurrency exchanges

The Bank of Ghana introduces draft guidelines to regulate digital assets, focusing on exchanges and consumer protection measures.

The Bank of Ghana (BoG) has proposed fresh regulatory measures for digital assets following an extensive internal review of Bitcoin, Tether, USDT, and other cryptocurrencies.

On Aug. 16, the central bank of the West African nation issued draft guidelines on digital assets while seeking feedback on the upcoming crypto regulations from the public and industry stakeholders.

According to the BoG, data collected over three years shows a significant increase in Ghana’s appetite for crypto. As a result, it intends to implement laws targeting risks related to money laundering and terrorism financing, fraud and other measures for consumer protection.

The central bank proposed an eight-pillar framework for crypto regulations, mainly intensifying the registration and reporting requirements of cryptocurrency exchanges or virtual asset service providers (VASPs).

Ghana pays special attention to crypto exchanges

If signed into law, the proposed regulations will require crypto exchanges to monitor and report suspicious transactions and comply with the Financial Action Task Force’s Travel Rule. Additionally, the bank plans to collaborate with external stakeholders such as commercial banks and offshore regulators.

“The Bank would collaborate with the Securities and Exchange Commission (SEC) to develop distinct complementary regulatory frameworks that encompass various applications or use cases of digital assets.”

Curating crypto laws based on public feedback

Exchanges will also need to register with the BOG and undergo sandbox testing before being allowed to provide trading services in Ghana. The bank is currently seeking recommendations from industry players, experts and the public until Aug. 31.

“The bank will consider these inputs in determining the next steps forward,” the draft proposal said.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

XRP Ledger Sets New $1 Trillion Trust Limit in Ripple USD (RLUSD)

▪️A significant event on the XRP Ledger involved setting a $1 trillion trust limit for Ripple USD (RLUSD), though no actual issuance of RLUSD has occurred yet.

▪️This action serves as a preparatory framework for future transactions, reflecting the XRP Ledger’s scalability and users’ confidence in the ecosystem.

Popular crypto analyst Amelie has brought the XRP community’s attention to a significant event taking place on the XRP Ledger. As tweeted by Amelie, the XRP Ledger has set a new trust limit of $1 trillion in Ripple USD (RLUSD).

Let’s first understand the concept of Trust lines and Trust limits on the XRP Ledger. A trust line helps the user build a trusted relationship with the currency issuer on the XRP Ledger. After setting up the trust line, users enable the recei[t of the issuer’s currency up to a certain predefined limit also known as the trust limit. This limit basically safeguards users from receiving more of the currency than they are willing to trust.

In the case of Ripple, a trust line was created for RLUSD, setting up the trust limit of $1 million. This figure represents the maximum amount of RLUSD the account holder is willing to trust. However, there’s no RLUSD transfer or creation in the process. Instead, this action simply establishes the framework for future transactions involving RLUSD on the ledger.

Last week, Ripple started beta-testing the RLUSD stablecoin facilitating cross-border transactions between the XRP Ledger and Ethereum, reported CNF.

XRP Ledger Implications and Community Reaction

The $1 trillion trust limit even in the absence of the actual asset shows high flexibility and scalability of the XRP Ledger. Also, the ability of users t also prompts questions about the role trust lines play in the issuance and circulation of digital assets on the XRP Ledger.

With Ripple expanding its range of products and services including the introduction of the RLUSD stablecoin, it becomes increasingly crucial to understand the technical workings of the XRP Ledger.

RLUSD will compete in the highly competitive stablecoin landscape currently dominated by Tether’s USDT and Circle’s USDC, reported CNF.

Interestingly, this announcement of the $1 trillion trust limit has also sparked some reactions from the community. Many users were actually curious to under the purpose behind this trust limit.

One community member Aron Madarasz confused it with some illicit activity stating: “It means that this is a fake. RLUSD isn’t issued yet. This is a trustline on the XRPL everybody can create, and everybody can name it as wanted. RLUSD will be issued by Ripple on the ledger but not as a trustline thing.”

Madarasz clarified that while a trust line for RLUSD has been established, Ripple has not yet issued the asset. As a result, the substantial trust limit set does not represent an asset currently in circulation. Rather, it serves as a preparatory measure within the XRPL, while enabling users to set up trust lines in anticipation of RLUSD’s future issuance.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

IMF Proposes Drastic 85% Electricity Tax Increase For Crypto Mining

Two IMF officials pitched for steep electricity taxation on cryptocurrency miners and recommended increasing their average global electricity cost by 85%.

The proposal has, in fact, called for a sharp rise in the electricity tax paid by crypto miners to drastically bring down carbon emissions from the mining of such cryptocurrencies, which have been rising and pose an environmental threat.

IMF: Over $5 Billion In Taxes

The International Monetary Fund says that a levy of $0.047 per kilowatt hour would bring in about $5.2 billion annually and trim global emissions by about 100 million tons, equivalent to current emissions of Belgium.

However, the actual reduction of emissions from such a tax is arguable, as miners have the tendency to shift operations to countries where electricity is cheap.

Here, IMF executives Shafik Hebous and Nate Vernon-Lin have used an astonishing figure for the consumption of energy used in cryptocurrency transactions. According to them, a single transaction in Bitcoin uses as much electricity as the average person in Pakistan uses over three years.

Crypto mining data centers, added to this, and the aggregate energy use for artificial intelligence will grow to a level comparable in use to Japan’s electricity in three years.

Though the proposed tax might provide incentives for miners to become more energy-efficient, the IMF acknowledges that global coordination is needed to avoid having miners simply move their bases of operation into countries and jurisdictions with lower standards.

Environmental Impact Of Crypto Mining

Thus, environmental considerations argue for crypto mining regulation. The IMF’s decision shows a rising awareness of the need to intervene in a fast-expanding polluter. Finding solutions is necessary because crypto mining and AI data centers account for almost 1% of global carbon emissions and 2% of global electricity usage. This tax could encourage miners to invest in greener technologies, making the sector more sustainable.

Economic Considerations

While the yield in tax from this proposal is huge, it opens up a Pandora’s box on the economic viability of crypto mining operations. Small miners—who are already hard hit by the reduction in profits after Bitcoin’s halving in April—may not survive easily if electricity costs rise even further.

That would mean consolidation in the industry, and only the large and more efficient miners able to survive would do so. The analysis by the IMF estimates that the tax may further drive innovations in energy-efficient mining technologies, but its immediate impact on smaller players could be quite destructive.

@ Newshounds News™

Source:  Bitcoinist

~~~~~~~~~

EU Merchants Accept Ripple Payments; Buy Gold & More With XRP

It feels like we just pulled a shiny rabbit out of the hat; various merchants in Europe accept Ripple’s XRP as a payment method for gold and silver! Yes, you read that right—your favorite altcoin can now buy you some solid gold bars.

It’s not just gold and silver; they’ve thrown in platinum, palladium, and rhodium for good measure. Plus, they’ve got live pricing in XRP, so you can watch those rates in real time, like a hawk eyeing its prey.

Ripple’s XRP: Shaking Up the Financial Scene Like a Snow Globe

Suisse Gold, Swiss Bullion, W. Hamond, have jumped on the XRP bandwagon and it isn’t just a fluke; it’s a sign of the times. Ripple’s cryptocurrency, XRP, has been strutting its stuff lately, making waves that are hard to ignore.

Take this: (OPINION) previously, reports circulated that Russian President Vladimir Putin, of all people, confirmed that BRICS—think of them as the cool kids of emerging economies—are cooking up their own independent payment system. And guess what? XRP might just be the secret sauce for cross-border payments in this new setup. If that doesn’t get your financial radar pinging, I don’t know what will.

@ Newshounds News™

Source:  CryptoNewsz

~~~~~~~~~

US Financial Services Committee leaders want ‘regulatory sandboxes’ for AI

In a letter signed only by republicans, the committee responded to a request for information sent by the Department of the Treasury.

US Financial Services Committee leaders want ‘regulatory sandboxes’ for AI News

Members of the United States House Financial Services Committee (FSC) responded to a request for feedback from the US Treasury concerning the regulation of artificial intelligence in an Aug. 16 letter addressed to Treasury Secretary Janet Yellen.

The letter, signed by the committee’s Republican leadership, calls for what amounts to a light-touch approach to regulation. “A one-size-fits-all approach will only stifle competition among financial institutions,” wrote the signatories, adding that “regulators must evaluate each institution’s use of AI technology on a case-by-case basis”

AI sandbox

The committee appeared bullish on the use of generative AI — which includes services and products such as OpenAI’s ChatGPT and Anthropic’s Claude — in the financial services sector. It highlighted the potential for these technologies to provide greater access to financial services, increasing both adoption and inclusion.

It also strongly recommended an organic approach to creating new regulations and laws. Describing a “regulatory sandbox” for AI, the FSC appears to be advocating maintaining a general focus on sustaining the status quo by applying existing rules to challenges as they arise.

@ Newshounds News™

Read more:  CoinTelegraph

~~~~~~~~~

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Awake-In-3D: When Will the RV/GCR Happen?

When Will the RV/GCR Happen?

On August 17, 2024 By  Awake-In-3D

Endgame GCR Podcast Episode 4

What you will learn in this episode:

• What is Japan’s Economic Influence on Current Financial System?

• What are the Signs of the Fiat Currency System’s Collapse?

* Why Inflation is a Key Driver of Fiat Financial System Weakness

• How Carry Trades Create Global Financial System Instability

• The Problem With Central Bank Interest Rate Manipulation

• Why Demand for Commodities and Precious Metals is Related to the RV/GCR

• What Will Happen if the United States Begins Buying Gold?

• Why the New BRICS Gold-Backed Financial System is Important

• The Revaluation of Currencies Amid a Fiat Financial System Collapse

• Rejecting the “Shotgun” GCR/RV Event Narrative

• What are the Key Indicators to Watch in the Coming Financial Collapse?

In this episode, the focus is on answering the central question: “When will the Global Currency Reset (GCR) and the Revaluation of Currencies (RV) happen?” It becomes clear that the RV/GCR will align with the collapse of the global fiat currency system. This sets the stage for the discussion, which explores current financial events that are leading towards this shift.

What is Japan’s Economic Influence on Current Financial System?

We look at Japan’s recent economic instability and how it affects the global financial landscape. Japan’s interest rate hikes and market volatility are early signs of a broader shift. Given Japan’s role as the fourth-largest economy and its status as a key reserve currency, its actions have a significant impact on the future of the global financial system.

What are the Signs of the Fiat Currency System’s Collapse?

Key indicators of the impending collapse of the fiat currency system are examined. The idea that the collapse will unfold “slowly at first, then all of a sudden” is discussed. The gradual breakdown of the fiat system is directly linked to the eventual realization of the GCR and RV, making it essential to track these developments.

Why Inflation is a Key Driver of Fiat Financial System Weakness

Inflation is identified as one of the main factors weakening the fiat currency system. It is described as a hidden tax that reduces the purchasing power of currencies around the world. This episode points out that inflation is unique to fiat systems and accelerates their collapse, driving up the cost of goods and services.

How Carry Trades Create Global Financial System Instability

There’s a detailed exploration of the carry trade, particularly between Japan and the US. The way investors profit from borrowing in low-interest countries and investing in higher-interest markets is explained. The unwinding of the carry trade is recognized as a key indicator of financial instability and is a sign of bigger disruptions to come.

The Problem With Central Bank Interest Rate Manipulation

We take a closer look at how central banks around the world manipulate interest rates in an attempt to manage inflation. These adjustments are contributing to a global recession and could even lead to a depression. The manipulation of interest rates plays a significant role in weakening the fiat system and preparing for its collapse.

Why Demand for Commodities and Precious Metals is Related to the RV/GCR

The episode also addresses the growing global demand for commodities, especially gold, silver, and other industrial metals. More individuals and central banks are diversifying into precious metals to safeguard against future instability. The increasing purchases of gold by central banks are a clear signal that they are preparing for the collapse of fiat currencies and the transition to a gold-backed system.

There’s further discussion on how central banks are using gold as a hedge against the coming collapse of the fiat system. Despite what is said publicly, their ongoing accumulation of gold shows that they are preparing for a post-fiat world where gold-backed systems will dominate.

What Will Happen if the United States Begins Buying Gold?

The episode emphasizes the unique position of the US dollar as the world’s reserve currency, being used in over 80% of global transactions. Speculation arises over what would happen if the US started buying gold, which would signal a loss of confidence in the dollar and likely cause panic in global markets.

Why the New BRICS Gold-Backed Financial System is Important

The discussion also explores the efforts of BRICS nations to create an alternative gold-backed financial system. This system could challenge the dominance of the US dollar and potentially force the Federal Reserve to adopt a similar gold-backed approach. Such a shift would create significant changes in the global financial landscape.

The Revaluation of Currencies Amid a Fiat Financial System Collapse

As the fiat currency system collapses, opportunities for currency revaluation (RV) are expected to emerge. This transition will likely happen gradually, with the RV being part of a larger shift towards a gold-backed system.

Rejecting the “Shotgun” GCR/RV Event Narrative

There’s a clear rejection of the idea of a sudden, global “shotgun” GCR/RV event. Instead, the transition is expected to be gradual, with notifications and preparations required from governments and central banks. An overnight switch is deemed unrealistic, and a step-by-step process is considered far more likely.

What are the Key Indicators to Watch in the Coming Financial Collapse?

The episode concludes by recapping the five key indicators that signal the collapse of the fiat system and the opportunity for currency revaluation: inflation, interest rates, carry trade unwinding, central bank gold purchases, and the US dollar’s position as the world reserve currency. These factors provide a roadmap for understanding and tracking the impending shifts in the financial system.

Approximate Time Markers For Each Topic

0:00 – Introduction to the GCR and RV Timeline
2:00 – Japan’s Economic Influence on Global Finance
6:00 – Signs of the Fiat Currency System’s Collapse
9:00 – Inflation as a Key Driver of Fiat System Weakness
13:00 – The Carry Trade and Its Role in Global Financial Instability
19:00 – Central Bank Interest Rate Manipulation
23:00 – Increasing Demand for Commodities and Precious Metals
27:00 – Gold Purchases as a Hedge Against the Fiat Collapse
30:00 – The US Dollar as the World’s Reserve Currency
33:00 – The BRICS Gold-Backed Financial System
36:00 – The Revaluation of Currencies Amid the Fiat System Collapse
39:00 – Rejecting the “Shotgun” GCR/RV Event
43:00 – Key Indicators to Watch for the Coming Collapse

Podcast Links:

Endgame GCR Episode 4 on Rumble

Endgame GCR Episode 4 on YouTube

© GCR Real-Time News

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

https://ai3d.blog/when-will-the-rv-gcr-happen/

https://www.youtube.com/watch?v=Eqfa12rI6LU&feature=youtu.be

More News, Rumors and Opinions Saturday PM 8-17-2024

KTFA:

Clare:  Iraq "Moves to Profit-Sharing" in New Oil Contracts

17th August 2024 

By Charles Kennedy for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.

Iraq Moves to Profit-Sharing Terms in New Oil and Gas Contracts

Iraq seeks to attract more investment in its oil and gas industry by moving to profit-sharing contracts for new bid rounds from the technical service contracts it has awarded so far.

Click here to read the full report.

LINK

Clare:  Finance: The Accounting Department begins working with the electronic issuance verification system (QR)

8/17/2024   Baghdad - WAA

The Ministry of Finance announced, today, Saturday, that the Accounting Department has started working with the electronic QR system regarding withdrawing amounts.

The ministry said in a statement received by the Iraqi News Agency (INA): "The Accounting Department has started working with the electronic check-in system using (QR code) regarding withdrawing amounts," noting that "the financing platform is currently limited to answering inquiries from spending units for the financing process in ministries, governorates and entities not affiliated with a ministry."

It added that "this comes within the framework of the government's orientation to simplify government procedures, reduce time and effort, in addition to reducing administrative momentum in institutions, and moving away from paper transactions."   LINK

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

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

Militia Man  Article: "Baghdad investigates the region's salaries and sends a monitoring committee to audit the 'spacemen' "  The corrupt are going to get exposed. Paying double and or to fake people is not going to fly with the new systems in place. Skimming off the top is going to have to stop.  I would suspect it will quickly too...

Frank26  Question: "As far as the training videos, are there any more subjects remaining with the RI and monetary reform that the Iraqi have not seen?"   Yes.  Right now they're teaching them about the float.  They hadn't seen that up until two days ago.

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

Shocking! 159 Countries Adopting BRICS New Payment System! What's Next?

We Love Africa:  8-17-2024

Do you know what shocks will be given to the West at the Brics Summit 2024?

As of now, the world seems to be busy with broader political issues. However, Brics has been working secretly and as of now, it not only has put a new payment system in place but is attracting hundreds of countries

. It’s just unbelievable that 159 out of the 195 countries of the world have already committed to adopting this new Brics payment system.

What does that mean for the West-dominated SWIFT payment system?

What are these countries that are joining hands with Brics against the West’s bullying payment system?

https://www.youtube.com/watch?v=fR-zQ4mxoJQ

Bigger Banking Crisis Than '08 When Amid Dollar Crisis | Matthew Piepenburg

Liberty and Finance:  8-17-2024

Matthew Piepenburg  discusses the recent Yen crisis which led to a world-wide market panic.

He notes that when the Dollar enters a similar crisis, the U.S. could face a banking crisis worse than 2008.

Owning gold has a record of preserving purchasing power through inflationary times, he notes.

INTERVIEW TIMELINE:

0:00 Intro

1:34 Yen crisis

13:30 Currency destruction

24:50 1929 parallel

35:10 Owning gold

https://www.youtube.com/watch?v=-UGp8xRY3n8

“Tidbits From TNT” Saturday 8-17-2024

TNT:

Tishwash:  Romanowski confirms that her country is looking forward to deepening its security relations with the Kurdistan Government

U.S. Ambassador to Iraq Elena Romanowski welcomed the new U.S. Consul in the Kurdistan Region, Steve Bitner.

In a post on platform X, Romanowski stressed that her country is looking forward to deepening its strong security relations with the Kurdistan Regional Government.

She pointed to the desire of the United States "to expand educational ties between it and the Kurdistan Region, and to monitor free and fair elections on October 20 October."

Earlier, the U.S. Ambassador expressed her sincere thanks to former Consul Mark Straw for his services at the Consulate General in Erbil.

Over the past year, your leadership has helped strengthen economic, security, and cultural ties between the United States and the Kurdistan Region. link

Tishwash:  Attracting investors and limiting currency smuggling.. Specialist explains the importance of "digitizing" Iraqi banks

Financial and economic expert Nawar Al-Saadi revealed, today, Friday (August 16, 2024), the importance of the benefits of "digitizing" financial transactions for Iraqi banks, while pointing out that digitization can enhance financial inclusion by attracting users who do not deal with traditional banks by providing easy-to-access and easy-to-use services.

Al-Saadi told Baghdad Today that “digitizing financial transactions in Iraqi banks can provide significant benefits, especially in terms of reducing currency smuggling,” indicating that “by adopting digital systems, banks can track all financial transfers with greater accuracy and transparency. This means that each transaction is automatically recorded and saved in a central database that can be reviewed at any time. This allows the relevant authorities to monitor and quickly detect suspicious financial activities, making it difficult for smugglers to exploit the financial system to smuggle currencies.”

“Digitizing the banking system contributes to reducing money laundering cases, as these operations usually depend on exploiting loopholes in traditional systems, but with an advanced digital system, these operations become more complex. Digitization also allows the use of advanced technologies such as artificial intelligence to analyze patterns in banking data and identify any abnormal or suspicious transactions,” he added, stressing that “this helps prevent money laundering by early identification of unusual activities and reporting them to the competent authorities.”

Al-Saadi explained that “to implement this digital transformation in Iraq, there is a need for investments in technological infrastructure and developing the institutional capabilities of banks,” noting that “this requires providing modern technology, training employees to use it effectively, in addition to developing legislation and laws that protect users and encourage digital transactions. It is also important to enhance customer awareness of the benefits of digital transactions and build their confidence in the new systems.”

He stressed that “digitization in banks contributes to achieving more transparency and credibility in the financial system, as each transaction can be easily tracked and reviewed. It also improves the operational efficiency of banks by completing transactions faster and at a lower cost. In terms of security, digitization provides higher levels of protection against fraud and theft through advanced encryption technologies.”

The financial and economic expert concluded by saying, “Digitization can enhance financial inclusion by attracting users who do not deal with traditional banks by providing easy-to-access and easy-to-use services. Digitizing financial transactions in Iraqi banks also has great potential to enhance economic stability and reduce the risks associated with money laundering and currency smuggling, leading to a safer and more efficient financial system.”  link

Mot:  This is probably the best answer l've ever heard to the question, "Why did God create evil?"

READ THIS...

Why did God create evil? The answer struck me to the core of my soul!

A professor at the university asked his students the following question:

- Everything that exists was created by God?

One student bravely answered:

- Yes, created by God.

- Did God create everything? - a professor asked.

"Yes, sir," replied the student.

The professor asked :

- If God created everything, then God created evil, since it exists. And according to the principle that our deeds define ourselves, then God is evil.

The student became silent after hearing such an answer. The professor was very pleased with himself. He boasted to students for proving once again that faith in God is a myth.

Another student raised his hand and said:

- Can I ask you a question, professor?

"Of course," replied the professor.

A student got up and asked:

- Professor, is cold a thing?

- What kind of question? Of course it exists. Have you ever been cold?

Students laughed at the young man's question. The young man answered:

- Actually, sir, cold doesn't exist.

According to the laws of physics, what we consider cold is actually the absence of heat. A person or object can be studied on whether it has or transmits energy.

Absolute zero (-460 degrees

Fahrenheit) is a complete absence of heat. All matter becomes inert and unable to react at this temperature.

Cold does not exist. We created this word to describe what we feel in the absence of heat.

A student continued:

- Professor, does darkness exist?

— Of course it exists.

- You're wrong again, sir. Darkness also does not exist. Darkness is actually the absence of light. We can study the light but not the darkness.

We can use Newton's prism to spread white light across multiple colors and explore the different wavelengths of each color. You can't measure darkness. A simple ray of light can break into the world of darkness and and illuminate it. How can you tell how dark a certain space is? You measure how much light is presented. Isn't it so? Darkness is a term man uses to describe what happens in the absence of light.

In the end, the young man asked the professor:

- Sir. does evil exist?

This time it was uncertain, the professor answered:

- Of course, as I said before. We see him every day. Cruelty, numerous crimes and violence throughout the world. These examples are nothing but a manifestation of evil.

To this, the student answered:

- Evil does not exist, sir, or at least it does not exist for itself. Evil is simply the absence of God. It is like darkness and cold—a man-made word to describe the absence of God. God did not create evil. Evil is not faith or love, which exist as light and warmth. Evil is the result of the absence of Divine love in the human heart. It's the kind of cold that comes when there is no heat, or the kind of darkness that comes when there's no light.

The student's name was Albert Einstein.

Seeds of Wisdom RV and Economic Updates Saturday Morning 8-17-24

Good Morning Dinar Recaps,

XRP Ledger Sets New $1 Trillion Trust Limit in Ripple USD (RLUSD)

▪️A significant event on the XRP Ledger involved setting a $1 trillion trust limit for Ripple USD (RLUSD), though no actual issuance of RLUSD has occurred yet.

▪️This action serves as a preparatory framework for future transactions, reflecting the XRP Ledger’s scalability and users’ confidence in the ecosystem.

Popular crypto analyst Amelie has brought the XRP community’s attention to a significant event taking place on the XRP Ledger. As tweeted by Amelie, the XRP Ledger has set a new trust limit of $1 trillion in Ripple USD (RLUSD).

Let’s first understand the concept of Trust lines and Trust limits on the XRP Ledger. A trust line helps the user build a trusted relationship with the currency issuer on the XRP Ledger.

After setting up the trust line, users enable the recei[t of the issuer’s currency up to a certain predefined limit also known as the trust limit. This limit basically safeguards users from receiving more of the currency than they are willing to trust.

In the case of Ripple, a trust line was created for RLUSD, setting up the trust limit of $1 million. This figure represents the maximum amount of RLUSD the account holder is willing to trust.

However, there’s no RLUSD transfer or creation in the process. Instead, this action simply establishes the framework for future transactions involving RLUSD on the ledger.

Last week, Ripple started beta-testing the RLUSD stablecoin facilitating cross-border transactions between the XRP Ledger and Ethereum, reported CNF.

XRP Ledger Implications and Community Reaction

The $1 trillion trust limit even in the absence of the actual asset shows high flexibility and scalability of the XRP Ledger. Also, the ability of users t also prompts questions about the role trust lines play in the issuance and circulation of digital assets on the XRP Ledger.

With Ripple expanding its range of products and services including the introduction of the RLUSD stablecoin, it becomes increasingly crucial to understand the technical workings of the XRP Ledger.

RLUSD will compete in the highly competitive stablecoin landscape currently dominated by Tether’s USDT and Circle’s USDC, reported CNF.

Interestingly, this announcement of the $1 trillion trust limit has also sparked some reactions from the community. Many users were actually curious to under the purpose behind this trust limit. One community member Aron Madarasz confused it with some illicit activity stating: 

“It means that this is a fake. RLUSD isn’t issued yet. This is a trustline on the XRPL everybody can create, and everybody can name it as wanted. RLUSD will be issued by Ripple on the ledger but not as a trustline thing.”

Madarasz clarified that while a trust line for RLUSD has been established, Ripple has not yet issued the asset. As a result, the substantial trust limit set does not represent an asset currently in circulation.

Rather, it serves as a preparatory measure within the XRPL, while enabling users to set up trust lines in anticipation of RLUSD’s future issuance.

@ Newshounds News™

Source:  Crypto News Flash

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Dubai court recognizes crypto as a valid salary payment

UAE lawyer Irina Heaver said the ruling shows the growing acceptance of crypto in employment contracts, recognizing the evolving nature of Web3 financial transactions.

In a significant update to the United Arab Emirates’ judiciary approach to crypto, the Dubai Court of First Instance recognizes salary payments in crypto as valid under employment contracts.

Irina Heaver, a partner at UAE law firm NeosLegal, explained that the ruling in case number 1739 of 2024 shows a shift from the court’s earlier stance in 2023, where a similar claim was denied because the crypto involved lacked precise valuation.

Heaver believes this shows a “progressive approach” to integrating digital currencies into the country’s legal and economic framework.

Dubai court recognizes inclusion of tokens in salary
Heaver said that the case involved an employee who filed a lawsuit claiming that the employer had not paid their wages, wrongful termination compensation and other benefits.

The worker’s employment contract stipulated a monthly salary in fiat and 5,250 in EcoWatt tokens. The dispute stems from the employer’s inability to pay the tokens portion of the employee’s salary in six months.

In 2023, the court acknowledged the inclusion of the EcoWatts tokens in the contract. Still, it did not enforce the payment in crypto, as the employee failed to provide a clear method for valuing the currency in fiat terms.

“This decision reflected a traditional viewpoint, emphasizing the need for concrete evidence when dealing with unconventional payment forms,” Heaver said.

However, the lawyer said that in 2024, the court “took a step forward,” ruling in favor of the employee and ordering the payment of the crypto salary as per the employment contract without converting it into fiat. Heaver said:

“This decision reflects a broader acceptance of cryptocurrency in employment contracts and highlights the court’s recognition of the evolving nature of financial transactions within the Web3 economy.”

Heaver added that the court’s reliance on the UAE Civil Transactions Law and Federal Decree-Law No. 33 of 2021 in both judgments shows the consistent application of legal principles in wage determination. 🍳

Far-reaching implications for UAE crypto adoption

According to Heaver, the decision also sets a positive precedent that encourages the further integration of digital currencies in everyday financial transactions. The lawyer believes that this fosters a more inclusive and innovative business environment. Heaver said:

“This ruling affirms that if an employment contract includes such terms, both the company and the employee must honor them. It is reassuring to see the court recognize that wages, whether paid in fiat or cryptocurrency, are the rightful entitlement of the employee for their agreed-upon work.”

Heaver added that it’s a win for employees and a significant step forward in the UAE’s journey toward becoming a digital economy leader.

@ Newshounds News™

Source:  CoinTelegraph

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Bank of Ghana unveils draft rules for cryptocurrency exchanges

The Bank of Ghana introduces draft guidelines to regulate digital assets, focusing on exchanges and consumer protection measures.

The Bank of Ghana (BoG) has proposed fresh regulatory measures for digital assets following an extensive internal review of Bitcoin, Tether, USDT, and other cryptocurrencies.

On Aug. 16, the central bank of the West African nation issued draft guidelines on digital assets while seeking feedback on the upcoming crypto regulations from the public and industry stakeholders.

According to the BoG, data collected over three years shows a significant increase in Ghana’s appetite for crypto. As a result, it intends to implement laws targeting risks related to money laundering and terrorism financing, fraud and other measures for consumer protection.

The central bank proposed an eight-pillar framework for crypto regulations, mainly intensifying the registration and reporting requirements of cryptocurrency exchanges or virtual asset service providers (VASPs).

Ghana pays special attention to crypto exchanges

If signed into law, the proposed regulations will require crypto exchanges to monitor and report suspicious transactions and comply with the Financial Action Task Force’s Travel Rule. Additionally, the bank plans to collaborate with external stakeholders such as commercial banks and offshore regulators.

“The Bank would collaborate with the Securities and Exchange Commission (SEC) to develop distinct complementary regulatory frameworks that encompass various applications or use cases of digital assets.”

Curating crypto laws based on public feedback
Exchanges will also need to register with the BOG and undergo sandbox testing before being allowed to provide trading services in Ghana. The bank is currently seeking recommendations from industry players, experts and the public until Aug. 31.

“The bank will consider these inputs in determining the next steps forward,” the draft proposal said.

@ Newshounds News™

Read more:  CoinTelegraph

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NEWS BRIEFS from the NEWSHOUNDS

▪️Trump Organization to launch crypto real estate initiative says Eric Trump | Crypto Briefing

▪️Xaman Wallet Partners with Mastercard’s Immersve to Roll out Self-Custody Web3 Cards  |  The Crypto Basics

▪️Cantor Fitzgerald CEO to co-lead Trump transition team |  Coin Telegraph

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