Seeds of Wisdom RV and Economic Updates Monday Morning 9-9-24

Good Morning Dinar Recaps,

Ripple Targets FCA Approval, Eyes London IPO by 2025

▪️Ripple’s FCA approval may come by December 2024, setting the stage for a potential London IPO in 2025.

▪️Ripple is expanding XRP Ledger with features like NFTs, smart contracts, DEX, and AMM to strengthen its ecosystem
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Ripple’s protracted battle with regulatory hurdles took another crucial turn when Judge Torres granted Ripple’s motion for a stay on the monetary penalty. This judgment is regarded as a critical development, potentially benefiting Ripple’s efforts to obtain permission from the UK Financial Conduct Authority (FCA).

Ripple Overcomes Regulatory Hurdles, UK License and London IPO in Sight

Previously, there was suspicion that the uncertainty surrounding the penalty Ripple could face from the SEC was delaying the licensing process for its UK crypto license. Now that the stay is in place and financial expectations are apparent, Ripple is on track to get permission by December 2024.

This certification is especially significant for Ripple’s overall plan, as it may pave the way for an initial public offering (IPO) in London as early as 2025. Ripple’s decision to pursue an IPO outside of the United States is consistent with its prolonged avoidance of the American market, owing principally to regulatory uncertainty.

Due to the SEC’s hostile attitude toward the company and the larger cryptocurrency industry, Ripple has been wary of launching an IPO in the United States, as CNF previously reported.

This friction has been a primary driver of Ripple’s expansion into other countries, particularly the United Kingdom, where regulatory regimes appear more receptive.

Ripple’s CEO, Brad Garlinghouse, reiterated these comments during Korea Blockchain Week, where he emphasized the problems of the US regulatory framework. He stated that one of the most important pieces of advice he gives to cryptocurrency entrepreneurs is to avoid establishing their operations in the United States.

Garlinghouse’s statements underline a growing industry worry about the absence of clear and supporting legislation in the United States, which has served as a bottleneck for many organizations looking to develop blockchain.

Meanwhile, Ripple is not solely concerned with handling regulatory difficulties. According to our prior report, the firm is also working to improve the technological capabilities of the XRP Ledger.

Non-fungible tokens (NFTs), decentralized exchanges (DEX), smart contracts, and automated market makers (AMMs) are some of the most recent additions. These changes aim to improve the XRPL’s functionality and increase its use cases, hence strengthening Ripple’s position in the cryptocurrency sector.

Ripple is preparing for a good year ahead, with FCA approval appearing on the horizon and promising technological breakthroughs. If all goes as planned, 2025 might be a watershed moment for Ripple, especially with the potential of a London IPO on the way.

@ Newshounds News™

Source:  Crypto News Flash

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CFTC LOSES ROUND ONE: KALSHI CLEARED TO OFFER US ELECTION BETS

A federal judge this week sided with the prediction market Kalshi’s motion for summary judgment in its legal battle with the U.S. Commodity Futures Trading Commission (CFTC). This decision opens the door for U.S. citizens to place bets on the upcoming November election.

However, the ruling isn’t the final word just yet, as the CFTC can still appeal. Following the judge’s order, the commodities regulator immediately filed an emergency request for a two-week stay.

Kalshi’s Legal Victory Could Change U.S. Election Betting Landscape, CFTC Files Emergency Motion

In a legal twist last year, Kalshi, a financial exchange and prediction market, took the Commodity Futures Trading Commission (CFTC) to court. Kalshi, established in 2018 by Tarek Mansour and Luana Lopes Lara, allows users to trade on real-world event outcomes.

The lawsuit, filed in November 2023, challenged the CFTC’s decision to block the company from offering specific event contracts, particularly those related to betting on the U.S. election, on its federally regulated platform.

On Sept. 6, 2024, Judge Jia Cobb delivered a decision in favor of Kalshi, rejecting the CFTC’s cross-motion for summary judgment. Bloomberg Law reported that Kalshi’s CEO, Tarek Mansour, called the ruling a milestone.

“Election markets are now legal in the United States for the first time in 100 years,” Mansour remarked. On the firm’s website, it states:

Election markets are coming to Kalshi. We did it! Stay tuned for more info, and God bless America!

Paradigm’s vice president of government affairs, Alexander Grieve, shared on X that he was delighted his firm supported the amicus. “Proud Paradigm contributed an amicus in this case, as (if it wasn’t clear already) the outcome of November’s election will have profound impact on the direction of crypto in this country,” Grieve said. “American companies need the ability to hedge political risk,” the Paradigm executive added.

Attorney Jake Chervinsky praised the ruling. “Huge win for Kalshi against the CFTC,” Chervinsky wrote. “I want to see the opinion before I start dancing on the grave of the administrative state, but this is even more evidence that the best way to deal with regulatory overreach is to file more lawsuits.” Although Kalshi secured a victory, the commodities regulator still has the option to appeal and take the fight back to court.

Right after the verdict, the CFTC swiftly filed an emergency motion requesting a two-week stay. They argued that “without the benefit of the court’s reasoning, the CFTC is unable to make an informed decision whether to appeal, nor is it able to fully brief a motion for stay pending any forthcoming appeal.” The regulator further added:

Time is of the essence in the issuance of a stay. The CFTC expects that Plaintiff Kalshi will immediately list the relevant election contracts and that trading will begin as soon as the contracts list. Plaintiff has already announced on its homepage that ‘Election Markets are Coming to Kalshi!’

The news arrives at a moment when Polymarket, a blockchain-powered prediction platform, has seen a significant increase in volume and open interest, thanks to the upcoming 2024 election.

Meanwhile, U.S. lawmakers, including Democratic Senator Elizabeth Warren from Massachusetts, have been pressing the CFTC to crack down on election prediction markets. “The last thing that voters heading to the polls need are bets waged on the outcome of that election,” the policymaker’s letter argued.

What do you think about Kalshi’s win this week and the chance the CFTC may appeal the decision? Share your thoughts and opinions about this subject in the comments section below.

@ Newshounds News™

Source:  Bitcoin News

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IOTA NEWS: INTRODUCING TWO NEW BONDS WITH IOLEND AND RUSTYROBOT – EXCITING OPPORTUNITIES AHEAD

▪️ApeBond has announced a significant partnership with IOLEND and the Rusty Robot Country Club (RRCC) to introduce two new IOTA bonds.

▪️This collaboration aims to enhance the DeFi ecosystem by leveraging IOTA’s infrastructure to provide sustainable growth and financial stability.

Multi-chain bonding protocol ApeBond recently announced big news for the IOTA community with the goal of introducing two new IOTA bonds in partnership with IOLEND as well as the Rusty Robot Country Club.

As said, the ApeBond project focuses on fostering a sustainable future for decentralized finance (DeFi) projects and communities. By leveraging cross-chain capabilities, ApeBond aims to provide long-term stability and growth opportunities within the DeFi ecosystem.

IOLEND has emerged as a key player in the decentralized finance (DeFi) market that offers innovative lending solutions on the IOTA network’s Ethereum Virtual Machine (EVM). what makes IOLEND special is that it uses top cryptocurrencies like ETH, USDT, and IOTA as collateral while standing out from other DeFi platforms.

IOLEND has been built on the RDNT Capital fork with the trusted framework of Aave. Thus, it ensures that users feel secure and confident in the platform’s reliability. Furthermore, this DeFi protocol allows users to deposit and withdraw assets, with interest rates determined by market forces, per the Crypto News Flash report.

One of IOLEND’s key strengths is its highly competitive APRs, which are among the lowest in the market. Users can earn up to 250% APR on ETH loops and 275% APR on USDT loops. These impressive yields are further enhanced by rewards in $IOL, IOLEND’s native governance token.

🔥 Big news for the @iota community! Today we’re thrilled to introduce not one, but TWO new #IOTA Bonds in partnership with @iolendfi and @RustyRobotCC 👇

💵 @iolendfi is a DeFi platform that aggregates top yield opportunities with smart leverage tools & yield-bearing… pic.twitter.com/9vtgcPwmf2

— ApeBond (@ApeBond) September 5, 2024

IOTA and Rusty Robot Country Club
The Rusty Robot Country Club is one of the longest-standing NFT communities currently on the IOTA blockchain that brings together a global team with the common vision of becoming the world’s largest creative brand.

RRCC excels in global creative collaboration across various mediums like music, comics, and books. Their platform, Coda, empowers artists to tokenize intellectual property (IP) through real-world asset (RWA) tokenization.

Moreover, the RCCC NFTs offer access to an ecosystem that includes comics, collectibles, Rusty Apparel, Rusty Robot Records, and $RUST-powered DeFi tools. Furthermore, the RUST token is central to the RRCC ecosystem as all the post-NFT sale activities require holding this token. Impressively, RRCC launched without an ICO, private sale, or investor backing.

The partnership between ApeBond and IOTA EVM marks a major advancement in diversifying treasuries and driving substantial growth. By utilizing IOTA EVM’s robust infrastructure, ApeBond enhances projects’ ability to manage their resources efficiently, promoting financial stability and supporting innovation and expansion. This collaboration will cultivate a vibrant DeFi ecosystem where projects can flourish and achieve growth, reported Crypto News Flash.

@ Newshounds News™

Source:  Crypto News Flash

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CARDANO FOUNDER REVEALS GAME-CHANGING PLAN FOR UNMATCHED SCALABILITY

Cardano founder Charles Hoskinson has recently unveiled a blueprint to significantly enhance the scalability of the Cardano blockchain.

In a tweet, Cardano developer Input Output Global (IOG) shared a game-changing statement made by Cardano founder Charles Hoskinson at a recent event that touched on making Cardano the best in class in scalability.

"Leios is going to provide a dramatic increase in layer 1 performance. Complemented by rollups – coming to PlutusV3 – and Hydra, these things together will make for best in class for scalability," the IOG tweet citing the Cardano founder reads.

According to the Cardano founder, Ouroboros Leios together with rollups that are coming to Plutus V3 and scaling solution Hydra will result in best-in-class scalability performance.

Ouroboros Leios, a new Ouroboros family variant, is designed to significantly enhance throughput while maintaining at least the same level of security as earlier Ouroboros variants.

Existing variants of the Ouroboros blockchain algorithm have limited throughput capabilities, both in terms of data throughput and CPU processing.

They are restricted not by the resources available to each node (network capacity or CPU performance) but by the distributed algorithm's data and communication needs. Improving this requires a new algorithm design, which is what Ouroboros Leios aims to be.

Cardano milestones and developments On Sunday, Sept. 1, 2024, the Cardano blockchain took the first major, irrevocable step from being one of the most decentralized blockchains to becoming an ecosystem governed solely by its community of ADA holders with the launch of the Chang 1 upgrade.

In the past week, Cardano node v.9.1.1 was released to address an issue where 9.1.0 nodes would replay from the genesis block upon restart during the Conway era. The Lace team has opened up governance to Conway-era hardware wallet users, enhancing access and functionality in Lace v.1.15. Looking ahead, the team is now preparing for the release of Lace v.1.16.

@ Newshounds News™

Source:  U Today

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HEDERA NEWS: 7 REASONS HBAR IS POISED TO LEAD THE NEXT WAVE OF BLOCKCHAIN INNOVATION

▪️A popular member of the Hedera community outlines seven reasons HBAR could dominate the Web3 industry in terms of innovation.

▪️According to him, building Layer 1 is incredibly complex, however, Hedera has done the most important things right.

Renowned developer Manu Kabrera has lauded the incredible evolution of the Hedera blockchain (HBAR), tipping it to lead the next wave of blockchain innovation.

In a post dated September 5, Kabrera explained that his position is based on seven key undeniable factors ranging from enviable community support to building an industry standard foundation.

Passionate Community

According to Kabrera, the Hedera community is one of the most educated, loyal, and passionate in Web3.

Admittedly, the developer stated that the various forums could certainly have a pocket of gamblers, flippers, and scammers. However, its community is filled with people who are passionately and genuinely seeking to use technology to address real-world problems.

The likes of HashPack Wallet, Kabila App, SaucerSwap Labs, etc were cited as part of the talented projects and companies within the Hedera ecosystem innovating and leading the way in blockchain use cases.

Speed of the Hedera Network

As captured in his post, Kabrera believes that the speed of this project “is in a league of its own”. Hedera’s transaction achieves finality in around three seconds, positioning it for mass adoption.

Nobody waits today. 3 seconds vs 30 seconds can be the difference between a viable Social DApp or a complete failure. Great user experience requires speed.

Super Low, Fixed Fees

Thirdly, the efficiency of the Hashgraph algorithm, according to the developer, has enabled super low fees at $0.0001 and $0.02 for minting a Non-Fungible Token (NFT). Most importantly, these fees are fixed, which enables businesses to offer predictable pricing.

Best-in-class technology

According to Kabrera, the Hashgraph consensus algorithm is a gift. His reason stems from the fact that the algorithm provides future scalability, decentralization, and high-grade security. Explaining the importance of this, he disclosed that most networks collapse in the long run due to the fact that their gas fees skyrocket unreasonably once they become successful and start handling a lot of transactions.

To him, Hedera provides a solution to this.

Developer Experience

The fifth point has to do with how Hedera’s native services have made it extremely easy for developers through the availability of traditional languages like Java, JavaScript, or Go. This is contrary to the new programming language like Solidity required by other networks to build on a blockchain.

Hedera’s provisions, according to Manu Kabrera, reduce entry-level barriers, costs, and development time.

Governance Model

In terms of governance, the developer believes that the community should have channels to submit proposals and feedback. Also, the reports that the entire economy could be tokenized on a blockchain demand that this responsibility falls on a group of experienced developers. According to Kabrera, Hedera has a governance system of 39 large, trustworthy entities with different backgrounds ranging from technology to logistics. These include Google, IBM, Ubisoft, etc.

All members of the Governing Council have a single vote and a maximum term of 3+3 years on the Council, preventing the concentration of power. This Council meets monthly, and all topics discussed and decisions made are transparently published on the Hedera website.

Foundation of the Hedera Network

In his final point, Kabrera stated that the originality of the Hedera Foundation could propel it to dominate the Web3 ecosystem. However, it would have to work on its clear processes, support for key ecosystem builders, transparency, and accountability.

@ Newshounds News™

Source:  Crypto News Flash

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IRAQ TAKES CONTROL—CHAPTER VII ENDS  |  Youtube

@ Newshounds News™

Source:  Currency Facts

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IRAQ'S CENTRAL BANK ENDS ELECTRONIC TRANSFER  |  Youtube

@ Newshounds News™

Source:  Currency Facts

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More News, Rumors and Opinions Sunday PM 9-8-2024

KTFA:

Clare:  Prime Minister's Advisor: Central Bank Decisions Contribute to Reducing Inflation Rates in the Country

9/8/2024  Baghdad

The financial advisor to the Prime Minister, Mazhar Mohammed Saleh, explained that the decisions of the Central Bank contribute to reducing inflation rates in the country, and pointed out that economic growth contributes to strengthening the value of the local currency.

Saleh said in an interview with "Al-Sabah", followed by "Al-Eqtisad News", that "the policies of the Central Bank play a major role in stabilizing the currency, which achieves harmony between the internal value of the currency and its external value," explaining that "decisions to raise or lower interest rates as part of monetary policy work will undoubtedly be reflected in reducing inflation rates and maintaining the stability of the currency value."

He added that prosperous and sustainable economic growth in the gross domestic product contributes to strengthening the value and stability of the currency, indicating that the real factors affecting the strength of the national currency include high productivity, high employment of the workforce, in addition to real investment and innovation, especially technological development.

Saleh pointed out that technology and innovation can lead to improved productivity and economic growth, which enhances the value of the currency, all of which are factors generated by the real sector in the economy or the national development policy.

He pointed out the importance of political stability and the strength of the administrative system and its governance, which are important behavioral factors in enhancing confidence in the national currency. LINK

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Clare: Baghdad Today publishes the full details of Al-Sudani's speech

9/8/2024  Baghdad

Prime Minister Mohammed Shia Al-Sudani delivered a speech to the Iraqi people today, Sunday (September 8, 2024), in which he addressed political files, government achievements, and other service-related issues.

Al-Sudani said in his televised speech, addressing the Iraqi people: “Direct discourse is our permanent approach to building trust with you,” indicating that “the government was formed in circumstances that are still evident in the memory of the recent past and the political intersections that preceded it and the absence of a comprehensive vision in managing the state.”

He added, "Our government has embarked on an accurate and realistic reading of the most important demands and necessities that govern the relationship between the citizen and his government. We have formulated the concept of a service government and its priorities in addressing unemployment, poverty, services, and meeting the imperatives of economic reform, in addition to the most important file, which is combating corruption, based on political support from the State Administration Coalition and all national political forces."

The Prime Minister continued: "We addressed the conditions of those covered by the social protection network by including 961 thousand new families and more than 7 and a half million food baskets monthly within the ration card items, and more than two million students were included in the student grant and more than 372 thousand salaries for the full-time appointee."

He pointed out that "a campaign was launched to provide school buildings at various levels and tracks to complete more than 500 new buildings in addition to the restoration and maintenance of thousands of other buildings. We ended the problem of contractors, higher degrees, top graduates and daily wages by addressing nearly one million job grades."

He explained, "We supported the private sector by allocating projects for the (Iraq Development Fund), which is a step that will produce thousands of job opportunities for our children, and it has actually begun to bear fruit." He pointed out that, "the indicators of local energy production have reached 27 thousand megawatts for the first time, and the oil sector has witnessed a remarkable development, and we have begun to exploit associated gas and have reached 67 percent of it, and we have achieved self-sufficiency in gas oil fuel and have entered the export phase."

Al-Sudani revealed that "gasoline production increased to 28 million liters per day, and imports declined to their lowest levels and will stop at the beginning of 2025. In the services and infrastructure file, major strategic projects have been launched, whether in the Iraq Development Road or the Grand Faw Port."

He said: "The government has begun to address the housing issue extensively and the urgent need for new cities. We have achieved self-sufficiency in wheat production, and we have opened the doors to national industry and begun to adopt major industrial cities."

He pointed out that "the traffic congestion treatment projects reached final completion rates in record time, and some of them were actually opened," adding that "the stalled projects decreased from 2,611 suspended projects and contracts to work resuming on 471 projects for ministries and 354 projects and contracts in the governorates."

He added: "400 projects and contracts have been fully completed after some of them had been halted for more than ten years," noting that "the government succeeded in holding provincial council elections, and we have ended forever the confusion resulting from the multiplicity of personal documents for citizens. More than 40 million unified personal cards have been issued, and we have launched the electronic passport systems and reduced all the reviews that exhausted citizens."

The Commander-in-Chief of the Armed Forces announced "taking an important step to resolve the issue of the international coalition to fight ISIS and ending the work of the UNAMI mission," adding, "The government also made an important effort in the international relations file despite the unrest in the region and the aggression on Gaza, and succeeded in sparing Iraq the repercussions of the escalation."

He said: "Based on these principles and after all the success achieved, which is credited to both the executive and legislative authorities and to the various national forces contributing to the government, we worked without hesitation to support the constitutional tasks of the judiciary in order to complete the circles of stability and progress."

The Prime Minister stressed that, "When the government placed combating financial and administrative corruption at the top of its goals, we faced and continue to face operations of confusion, obfuscation, spreading fallacies, attempts to mix facts with lies, and accusing the government of ignoring some aspects of corruption."

Al-Sudani also stressed that "the government is ahead of all constitutional authorities in confronting and holding accountable any exploitation of the job position that seeks to blackmail or violate the law at any level, and no one will be beyond the reach of the law," indicating that "the government is the government of all, and its success and ability to meet the aspirations of Iraqis and achieve development and prosperity will benefit everyone as well."

He called on "the national political forces and constitutional authorities to assume comprehensive responsibility towards these major entitlements and stand united behind the government to complete its service program and not allow attempts to obstruct that target everyone's achievements, especially in light of the rapid challenges and developments witnessed by the region, particularly on the security and economic levels." He explained that "those who are concerned about the success of the government, we affirm our commitment to meeting the demands of our people as a matter of utmost importance, and that the real and decisive success for us is the satisfaction of the Iraqis and the achievement of their aspirations."

He promised, “Our success in the project of building Iraq and its contemporary renaissance is a project for all Iraqis, with all their spectrums and all their national orientations that believe in a single, powerful Iraq.”

Al-Sudani stressed "the importance of settling the entitlement to the presidency of the House of Representatives, as we stand at the same distance from all political forces," adding, "The government is waiting for this important step in order to proceed to the House of Representatives to approve the ministerial amendment based on an evaluation of the ministers' performance."

The Prime Minister praised "the performance of the state ministries during the past stage and the achievements they recorded that make a difference and represent the spirit of the government program and its goals," renewing "the pledge to our people to continue the effort and struggle, and to continue on the same approach with higher momentum and unwavering determination towards building a strong, unified, independent, prosperous Iraq in which its people live with pride and dignity."

Live broadcast of the speech.. Click here   LINK

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

PompeyPeter  Where are we?  We don't like to spread rumors.  We don't like to give out misinformation or unqualified information.  That's why we stick to what we know.  What we know and put out comes from...the articles...And gracious  me, what do they tell us about where we are?  They tell us we have never ever ever been in a better place than we are now...  

Frank26   [Iraq boots-on-the-ground report]  FIREFLY:
Sudani says we are in the final stages of the education phase on the monetary reform.  I went to Mr. Sammy [Bank Manager Friend] and I said, 'What happens next?'  He said after the monetary reform education, the lower notes will come out.  But first the commercials will show them to you.  He seems to think it's the upcoming next year for some reason.  FRANK: The reason why he is saying this is because he is aware that the CBI will meet with the United States Treasury at the end of this year.  He may be thinking we need that meeting.  IMO I strongly disagree.  I still look forward to Alaq returning from New York with a new exchange rate that everyone is agreeing upon...IMO the commercials are next...because they are already produced and ready to be released.

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BRICS Urgent News Venezuela Turkey & Global Energy Issue

Edu Matrix:  9-8-2024

BRICS Urgent News Venezuela Turkey & Global Energy Issue—The President of Venezuela is promising to shake up the global energy industry, while Turkey has already done something few other countries would dare do.

https://www.youtube.com/watch?v=pGPLkZaP-50

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 9-8-24

Good Afternoon Dinar Recaps,

WHY RIPPLE IS HOLDING BACK FROM A U.S. PUBLIC OFFERING

▪️Ripple avoids a U.S. IPO due to regulatory uncertainty, particularly the SEC’s hostility.

▪️Ripple’s diverse political affiliations include XRP donations to Donald Trump’s 2024 campaign.

Ripple CEO, Brad Garlinghouse, has stated that the company has no plans to go public in the US. The challenging regulatory environment, particularly the SEC’s harsh treatment of cryptocurrency startups like Ripple, is a major driving force behind this decision.

Ripple CEO Urges Caution in U.S. Crypto Operations Amid SEC Conflicts

Garlinghouse highlighted the SEC’s conflicting actions in authorizing Coinbase’s public listing and then bringing a lawsuit against the business. Ripple is wary of doing an Initial Public Offering (IPO) in the United States due to regulatory uncertainty.

During Korea Blockchain Week, Garlinghouse expressed his broader concerns about the US regulatory landscape, stating that one of his top pieces of advice to crypto startups is to avoid incorporating in the United States.

He warned that doing so would certainly result in increased legal costs, a reality Ripple has seen directly in its current struggle with the SEC. Despite these hurdles, Garlinghouse voiced optimism about the crypto industry’s future, saying he is more confident than ever in the next five years.

Ripple is currently focused on extending its global footprint and resolving regulatory difficulties rather than pursuing a U.S. IPO.
 
In addition to these corporate decisions,Ripple’s political associations have sparked interest. According to CNF, the company’s executives have expressed support for both sides of the political spectrum, endorsing candidates in the 2024 US presidential election.

Stuart Alderoty, Ripple’s General Counsel, donated $300,000 worth of XRP to Donald Trump’s campaign, while other Ripple executives backed Kamala Harris. This exposes the company’s multiple political opinions and demonstrates a purposeful strategy for maintaining partnerships with many political forces.

Garlinghouse also emphasized the SEC’s broader impact on the cryptocurrency business. He underlined that, while the SEC wields great power, challenging the regulator requires significant resources and resolve.

Ripple has scored legal successes in its struggle with the SEC, including a court order that dramatically decreased the SEC’s initial sanctions.

@ Newshounds News™

Source:  Crypto News Flash

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SEPTEMBER’S KEY EVENTS WHICH WILL REVIEW STRUGGLING CRYPTO MARKET

▪️Trump-Harris debate may influence crypto market with candidates' stances on digital assets.

▪️US CPI report could impact Federal Reserve decisions, affecting crypto

▪️On 12 sept PPI report along with Jobless claims will be released.

With cryptocurrencies experiencing a significant drop of nearly 30% from their peak in March, the upcoming week is packed with key events that could greatly impact both the crypto and traditional trading markets. Here’s what to watch for in the coming week.

Key Events Of The Next Week

Sep 10: U.S – Trump-Harris Debate
The debate between presidential candidates Kamala Harris and Donald Trump on September 10 is creating buzz in the crypto market. Both candidates have recently shown increased interest in cryptocurrencies.

Trump’s positive stance on crypto and Harris’s connections with industry leaders could affect market trends. This debate might bring new insights or uncertainties about the future of digital assets.

Sep 11: U.S – CPI

On September 11, the U.S. will release its Consumer Price Index (CPI) report for August. This report is important because it shows how prices are changing and can influence economic decisions. The July CPI report showed a 0.2% increase from the previous month and a 2.9% rise compared to last year.

Experts predict that August’s CPI will show a slightly higher increase, with core inflation expected to be around 0.26%. This data could impact the Federal Reserve’s decisions on interest rates, affecting both traditional and cryptocurrency markets.

Sep 12: U.S – PPI & Jobless Claims

On September 12, the U.S. will also release its Producer Price Index (PPI) report. The PPI measures how prices are changing for goods before they reach consumers.

 The July report showed a 2.2% increase compared to last year, which was a slight drop from June’s 2.7%. Analysts expect August’s PPI to show a further easing of inflation pressures.

Additionally, the Initial Jobless Claims report will be released on the same day. This report tracks the number of people filing for unemployment benefits. The latest data showed a drop to 227,000 claims, the lowest since early July, compared to economists’ forecast of 230,000.

This information helps us understand the overall job market and economic health, which can also impact the cryptocurrency market.

As these events unfold, they could create opportunities or challenges for the cryptocurrency market.

@ Newshounds News™

Source:  Coinpedia

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RIPPLE CTO BREAKS SILENCE ON RLUSD STABLECOIN RUMORS

Ripple CTO David Schwartz recently addressed speculation surrounding the RLUSD stablecoin. In a tweet, Schwartz indicated that RLUSD might likely be accessible only to institutions, at least initially

In his tweet, Schwartz stated, "It will probably only ever be available directly to institutions. Can you get USDC from Circle or USDT from Tether? Because I can't."

Schwartz was responding to an X user who asked if RLUSD could be only available, at least initially, to institutions and not crypto retail.

The X user proposed that restricting RLUSD to institutional access could protect it from risks linked to other stablecoins, like USDT, which has been criticized for alleged connections to money laundering and concerns over its stability.

Schwartz further addressed concerns about potential manipulation of the RLUSD stablecoin, stating, "I don't think that's likely to happen except maybe in very early test phases before anyone is really using it to move or store value."

Ripple USD (RLUSD) is currently being tested in private beta on XRP Ledger and Ethereum mainnet. As reported, the Ripple CEO Brad Garlinghouse at a recent XRPL event indicated that the Ripple stablecoin was gearing much closer to its release, suggesting a timeline of "weeks."

As RLUSD moves closer to its anticipated launch, Schwartz’s statements offer insight into Ripple’s cautious approach to rolling out RLUSD. Ripple USD stablecoin In April, Ripple announced plans to introduce a stablecoin tied 1:1 to the USD on XRP Ledger and Ethereum.

This initiative is intended to broaden Ripple's reach into institutional and DeFi markets, diversify use cases and improve its payments infrastructure, bringing traditional and decentralized finance closer together.

Stablecoins are an important entry point into DeFi, and adding an enterprise-grade stablecoin to XRP Ledger is expected to increase use cases, liquidity and opportunity for developers and consumers alike.

Ripple's stablecoin will be fully backed by U.S. dollar deposits, U.S. government bonds and cash equivalents, and Ripple promises transparency through monthly third-party attestations to ensure confidence and reliability.

Aside from the RLUSD stablecoin, Ripple and the broader XRP community intend to introduce more programmability, including smart contracts, to the XRPL developer ecosystem in 2025, both through the XRPL EVM sidechain and by exploring native capabilities on the XRPL mainnet.

 @ Newshounds News™

Source:  U Today

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MASTERCARD LAUNCHES CRYPTO CARD ENABLING USERS TO SPEND IN 100 MILLION EUROPEAN MERCHANTS

Mastercard partners with Mercuryo to launch a euro-denominated crypto debit card

Mastercard, the payments giant, has announced a partnership with Mercuryo to launch a euro-denominated crypto debit card, allowing users to spend crypto from self-custodial wallets.

Mastercard is a global leader in the payments industry. They operate international payment card services since 1966 and provides various financial services in more than 210 countries and territories.

As payments are considered one of the key use cases for crypto, Mastercard’s entrance into the crypto market was somewhat natural. The payment giant officially announced support for crypto on its network in February 2021.

Senior Vice President of Crypto at Mastercard, Christian Rau told Cointelegraph “At Mastercard, we are working closely with partners to innovate and enhance the self-custody wallet experience.”

@ Newshounds News™

Source:  The Street

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FAITH AS SMALL AS A MUSTARD SEED | Youtube

@ Newshounds News™

Source:  Currency Facts

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Economist’s “News and Views” Sunday 9-8-2024

Peter Schiff: Financial Markets are Back on the Brink of Collapse

9-7-2024

The financial markets have always possessed an underlying tension, poised delicately between exuberance and disaster. After a decade marked by pronounced recovery and growth following the 2008 financial crisis, there is an unsettling sentiment circulating among investors and economists alike: financial markets are once again teetering on the brink of collapse. But what factors are contributing to this precarious situation, and what can we expect moving forward?

While the financial markets are currently faced with numerous challenges, history has shown us that downturns can also present opportunities for astute investors.

By keeping an eye on the indicators and being mindful of personal financial strategies, you can navigate the unpredictability of the markets. The sentiment of impending collapse need not be paralyzing; rather, it can serve as a reminder to remain vigilant, informed, and proactive in the quest for financial stability.

As the old saying goes, “In every crisis, there is opportunity.” It’s essential to be prepared, both intellectually and emotionally, for the unpredictable journey that lies ahead.

Watch the video below from Peter Schiff for his insights on this topic.

https://youtu.be/t1-BiELuDhc

MARKETS A LOOK AHEAD: A "WORLDWIDE SUPER DEPRESSION" IS NOT FAR OFF. (Important Updates).

Greg Mannarino:  9-8-2024

https://www.youtube.com/watch?v=1aCyvN4kT9g

Americans are BROKE (Collapse Starts NOW) - President Reagan's Economics Advisor, Prof. Steve Hanke

Sachs Realty:  9-7-2024

U.S. recession is unavoidable says Steve Hanke, Professor of Applied Economics at Johns Hopkins University and Founder and Co-Director of the Institute for Applied Economics.

https://www.youtube.com/watch?v=Ig8Y4qWI0RE

The Current Case for Iraq' Monetary Reform, RI/RV, Challenges, Requirements and its Ultimate Success Now

TNT:

The Current Case for Iraq' Monetary Reform, RI/RV, Challenges, Requirements and its Ultimate Success Now. (1 OF 4)

Critics of an Iraq and Kuwait currency reinstatement comparison, have long pointed to the immutable fact that Kuwait was a State of the Art modern Democratic Monarchy, before it was ravaged by war, unlike Iraq which was an Archaic Dictatorship before and after its wars; so the argument goes, “you can't compare the two”.

However, that argument is not altogether conclusive proof that Iraq can't revalue anytime soon; especially now due to its current Parliamentary Democracy and stabilizing political reality, which has relatively improved, and most opinions to the contrary are highly subjective. 

Keep in mind although Iraq was an Archaic Dictatorship and was in great need of Monetary and State of the Art Economic Reforms before it started invading its neighbors, in particular Kuwait in 1990; Iraq factually had one of the highest valued currencies in the world (1 iqd to $3.21 usd) and was exchangeable here in the US! Therefore, any subsequent REQUIREMENTS to RI/RV Iraq’s currency internationally, are rooted in PRIMARILY SUBJECTIVE DETERMINANTS of the PTB (Powers That Be = Politics) and not Numbers and History. 

Furthermore, check out these much published but little considered facts regarding the circumstances in Kuwait when Kuwait Central Bank revalued its currency and was reinstated. 

We all know about Kuwait's limited public utilities days after the 1991 war; like little running water and very few lights in the country, when on March 25th, 1991 the NY Times reported Kuwait had revalued its currency by candlelight, back to the highest in the world. However, most of us have not researched the other political, societal, and economical circumstances surrounding Kuwait's revaluation and reinstatement. 

1. Did you know, the Kuwaiti Crown Prince 2nd in Charge of the Government, along with the Government's 22 cabinet ministers did not arrive back in Kuwait until March 5th a mere 20 days before they Revalued their Currency? 

2. Did you know, the Kuwaiti Emir Sheikh Jabah the number 1 ruler, did not return to Kuwait after 8 months of sheltering in Saudi Arabia until March 15th, 1991 a mere 10 days before the revaluation of their currency? 

3. Did you know that a vast amount of the Kuwaiti Government workers and administrators of the Kuwaiti Government agencies before the invasion were from Pakistan, Jordan, and other countries in the middle east and they NEVER Returned after the liberation of Kuwait. Talking about instability!

4. Did you know that a large number of the Kuwaiti surviving population were street protesting in March 1991 for a FULL DEMOCRACY, in other words, let's overthrow the ruling family who ran to safety and left us here to suffer? They felt abandoned by the ruling family and its Government for 8 months, consequently being subjugated by the invading Iraqis with unmentionable horrors? 

5. Did you know that 700 Kuwaiti Oil wells were still burning (during the RV) after being set on fire by the retreating Iraqi army and the last oil well was not extinguished until November 6, 1991? 

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

Kuwait /Iraq 2 of 4

So Kuwait not only revalued their currency by candlelight, they did it under a dark sky filled with toxic fumes and a devastated economy! 

Speaking of Kuwait's economy, Kuwait's inflation rate in 1991 rose ironically to 6.49% as a direct consequence of the invasion. Iraq's inflation rate has fallen to 3.90% today, partially as a consequence of the currency rate reduction in 2020. 

The point is Kuwait's inflation rate in 1991 when they revalued was almost twice of what Iraq's inflation rate is today! Even a first-year economic major knows that increasing purchasing power and decreasing the money notes numerically, is a mechanism that stimulates and grows the economy, NOT to control hyperinflation, so what Iraq is working towards is not a Lop, their inflation rate is controlled! 

The general point I'm making is that KUWAIT revalued their currency in very unstable conditions socially, politically, environmentally, and economically. They needed to rebuild their country and understood the basic premise "you reestablish your currency FIRST, then rebuild your country". 

However, I must concede there may be two powerful factors in the Iraqi efforts to Reinstate and Revalue their currency that Kuwait did not face. 1 A "Complex Global Currency Reset Effort" riding its back. 2. It was not strapped with a somewhat timid ideology of the US Administration. In 1991 the "get the money boys were in power in the US" it truly makes a difference as to how obstacles are overcome in financial and political matters! No pun intended, just years of neutral observations. Idealism (analysis = paralysis) and $$$ money $$$ are strange bedfellows! 

But all of that is just fourplay, let's take a look under the hood, shall we? Side by Side, because numbers historically speak truth to power and intent! 

Fact: In 1990, before the first Gulf War, both the Kuwaiti Dinar and the Iraqi Dinar were both over $3 USD to 1 dinar, and had been for many years. Let's see where we are today, regarding the economy of the two countries and the numbers that matter in setting a countries REER (Real Effective Exchange Rate) !

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KUWAIT.                           Sept 4, 2024                                IRAQ 

Population: 4.95 million                                                       44.5 million 

Gold Reserves: 55.11 tonnes.                                             143.3 tonnes 

Reserve Currency: 42.3 Billion USD                                   115 Billion USD 

GDP: 175.4 Billion.                                                              265.89 Billion 

GDP/Per cap: 307 Billion.                                                    530.86 Billion 

Inflation: 3.7%                                                                       3.9% 

Gas Reserves: 63 trillion Cu Ft.                                            131 trillion Cu Ft 

Oil Reserves: 102 Billion Barrels.                                          145 Billion Barrels

 Oil Reserve Status: 4th in Opec/ 10th in World.                  2nd in Opec/5th in World 

Mineral & Other Resources: Fresh Water.          Phosphates, Sulfur, Salt, Gypsum, Stone.

                                                                            Benzynite, Agriculture. 

KWD to USD (1 dinar = $3.54 usd) & IQD to USD (1 dinar = 0.001 or 1/10th Penny) 

What's wrong with the above Numbers? To CLAIM OR DENY the Effort to RV/RI the Iraqi Dinar as a SCAM, is not only untrue it's Stunated Foolishness Level! 

Kuwait/ Iraq 3 of 4

The IQD RV/RI effort is very real and has been attempted multiple times 2011, 2013, 2017 etc.. by IRAQ and the PTB over the last 20 years; as reported last month. 

The Following excerpt that is directly cited below from a (April 30, 2012) “DECLASSIFIED” REPORT TO THE US CONGRESS, FROM THE IRAQ PROVISIONAL GOVERNMENT pg. 103, that clearly proves the lifting of the 3 zeros from the IQD and Raising the Value IS A REAL EFFORT THAT WAS POSTPONED AT THAT TIME! THIS EFFORT IS NOT A SCAM!!! NOT A LOP!!! NOT A PROGRAM CBI RATE CHANGE !!! BUT A LIFTING OF THE 3 ZEROS AND A VALUE CHANGE ALL TOGETHER!!! A REER!!!!!! SEE BELOW !

QUOTE FROM REPORT:“In April 2012, the CoM postponed indefinitely plans for a currency reform that would have removed three zeros from the Iraqi dinar in 2013 and required issuance of new currency notes. The reform would have made the dinar value slightly less than $1, It is currently worth less than one tenth of a cent.” DROP THE MIKE! That's almost 1 to 1 IN IRAQ!! In your country it would be higher due to the parity principle!!

One more notion we need to clear up is the Iraq official rate of 1310 to 1 and the “Illegal Parallel Market Rate” 1500 to 1, “needing to get closer or completely align, before Iraq can unify the rate and revalue its currency”. Really? The Turkmenistan RV model used by the IMF shows clearly that the so-called parallel market rate in Turkmenistan had a more than 6000 manat spread between the official rate and the Parallel rate, when they successfully unified the two rates rates on May 1st, 2008. The IQD has less than a 2000 spread today! Just do it! 

In addition. the Turkmenistan blue print included a REER rate change 1st, then a little later they introduced there new lower denoms. It’s a major problem if the actual lower denoms are released ahead of the rate; not only because they would be valueless but more importantly, it would allow counterfeiters to get there filthy little hands on the notes and torpedo the monetary reform with counterfiet notes! No CBI would make that amature error!

The CBI will release commercials and certain photographs first at the last phase of the education like Iraq’s PM announced Wednesday on TV close to the new rate.

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

Kuwait Iraq Turkeministan 4 of 4

In conclusion, Political and Economic Stability "requirements" by the PTB upon Iraq, over  the last 20 years have become very Subjective, Relative and Ironic to say the least; so let's not sweat it guys lets play along its almost over!!!! Your patience is NOW A VIRTUE!!! LOL LOL 

I hope this helps with some of the doubts expressed by a few and help you to see, this is finally ready to go, it's just politics. 

By the way, all of these facts are available online FROM RELEVANT LEGITIMATE GOVERMENT SOURCES if one is truly interested, please, please stop beating up our neighborhood Gurus, some of them have been truly trying and helping many. At this point no one should be holding on for dear life on every word any Guru says now because there is to much verifiable intel available now at your fingertips. If you fail to take accountability for your own attitude and believe in this investment at this late date, you are likely the kind of person that will place your holdings in the hands of someone else and be taken advantage of. Big Kudos to our Home and Great TNT TEAM!!! 

Enjoy and stay positive. 

By FUZE    9/4/24 

Seeds of Wisdom RV and Economic Updates Sunday Morning 9-8-24 Part 2

Good morning Dinar Recaps,

PETER BRANDT AND PETER SCHIFF DEBATE GOLD AND BITCOIN

▪️Peter Brandt and Peter Schiff debated Gold and Bitcoin's performance.

▪️Schiff criticized Bitcoin ETFs, while Brandt suggested a long-term view.

▪️Gold is seen as safe, Bitcoin as risky, with differing future outlooks.

Famous investor Peter Brandt and long-time cryptocurrency critic Peter Schiff engaged in a debate over Gold and Bitcoin $54,220.27.

The discussion began when Schiff highlighted the poor performance of Bitcoin ETFs. Schiff pointed out that since the launch of Bitcoin ETFs, their gains have been below 10%, while gold has shown a 24% increase.

Brandt responded by arguing that this situation should be viewed from a long-term perspective. The chart he shared showed that gold has weakened compared to Bitcoin and indicated a “Head and Shoulders” formation in favor of Bitcoin.

Comparison of Gold and Bitcoin

The formation in the chart shared by Peter Brandt is a technical analysis indicator frequently used in the investment world. The Head and Shoulders formation usually indicates that the value of an asset will decrease. In this case, according to Brandt, this formation is developing in favor of Bitcoin, suggesting it could gain value against gold.

However, Peter Schiff looks at the same chart from a different angle and argues that gold will prevail. Schiff believes that gold has always been a safe haven against economic fluctuations and that Bitcoin cannot fulfill this function.   (referenced chart was not part of the article)

Different Investor Groups for Bitcoin and Gold

Gold is traditionally seen as a safe investment vehicle and gains value, especially during inflation periods. Bitcoin, on the other hand, is considered a riskier asset. Institutional investors still view Bitcoin as a highly volatile investment. However, some investors believe that Bitcoin could be called “digital gold” in the future and could replace precious metals.

Recent Inflation Data and the Drop in Gold Prices

The US inflation data announced in mid-August was below expectations. This caused a sudden drop in gold prices. Investors misinterpreted the low inflation data and turned to selling gold. Peter Schiff argued that this development was a wrong decision, stating that investors misread the inflation data and that gold did not lose its real value.

Peter Schiff: “Investors misinterpreted the inflation data. This led to the unnecessary selling of precious metal.”

Bitcoin, on the other hand, gained value during this period and attracted investors’ attention. However, Peter Schiff emphasized that Bitcoin acts as an “anti-gold” and contains higher risk compared to gold. According to Schiff, Bitcoin investors were mistaken in using the inflation data against gold.

The debate between Peter Brandt and Peter Schiff brought the long-standing competition between cryptocurrencies and precious metals back to the forefront. Cryptocurrency investors argue that Bitcoin will surpass gold in the long run, while traditional investors believe that gold holds an unchanging value.

A key point in the debate is how investors will choose between these two assets. While gold is accepted as a long-standing trust element, Bitcoin is rising as a new investment alternative in the digitalizing world. However, neither side can definitively conclude how their assets will perform in the long run.

@ Newshounds News™

Source:  CoinTurk News

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EL SALVADOR CELEBRATES 3 YEARS OF BITCOIN ADOPTION, EYES BROADER ACCESS

▪️El Salvador is celebrating the third anniversary of adopting Bitcoin as a legal tender.

▪️The Central American country has $31 million in unrealized gains from its BTC holdings.

▪️President Nayib Bukele's government is promoting Bitcoin awareness through education.

Three years ago today, El Salvador made history as the first nation to adopt Bitcoin as legal tender.

This move has sparked a phase of growth and development for the country, as it has become a model for crypto adoption and has drawn attention from global stakeholders.

Bitcoin’s Role in El Salvador Grows With $31 Million in Unrealized Gains

In honor of this milestone, Max Keiser, senior Bitcoin adviser to President Nayib Bukele, shared the administration’s vision for expanding Bitcoin access.

“Our plan is to provide every Salvadoran with a Bitcoin cold storage solution. So that even $0.50 of regular savings into Bitcoin creates education, retirement, and inheritance funds,” he explained.

Keiser’s statement highlights the Bitcoin-friendly approach chosen by President Bukele’s government. Though international bodies like the IMF initially criticized the move, they have since acknowledged that Bitcoin’s adoption has not harmed the country’s economy.

Instead, Bitcoin has benefited El Salvador. Its national Bitcoin wallet holds 5,865 BTC, generating over $31 million in unrealized gains. While the profit may seem small, the real impact has been increased global recognition and investment in the country.

For context, a port in El Salvador’s proposed Bitcoin City was one of the two that Turkish company Yilport Holdings would upgrade with a record $1.6 billion investment. Further, Bukele’s administration’s strong stance on freedom of speech and individual liberty has also gained attention.

President Bukele stressed this in a recent post, describing El Salvador as a new safe haven for freedom of speech and expression.

“As the world spirals into chaos and government crackdowns intensify, we will stand as the new beacon of hope for the future,” Bukele stated.

Despite the progress, Bukele acknowledged that Bitcoin adoption has not reached the expected levels. He attributes this to its voluntary use in the country but remains optimistic about the long-term financial benefits for early adopters.

Meanwhile, political opponents have called the Bitcoin initiative a failure, claiming “nobody” uses it. In response, the government is ramping up efforts to promote Bitcoin awareness, focusing on education. Recently, a Bitcoin training program was launched for 80,000 public servants.

@ Newshounds News™

Source:  BeinCrypto

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TOP 9 CRYPTO FRIENDLY COUNTRIES FOR DIGITAL ASSETS INVESTORS

Which are the most crypto friendly countries with the highest tax exemptions for individuals? As crypto regulations have taken the mainstage of the financial systems of most countries, crypto investors are keen to move their assets to crypto tax-free countries.

We go over the best countries that support technological innovation and exempt individuals from paying capital gains taxes. This list covers the top 9 crypto friendly countries for investors.

1. El Salvador

After becoming the first country in the world to qualify bitcoin as legal tender, El Salvador, aims to attract foreign investors and has a tax exemption in place for them. The nation exempts bitcoin profits from any capital gains or income tax.

The world is still waiting for El Salvador’s legal framework to enforce these official statements, but the crypto world is praising it as one of the best crypto tax-free countries.

2. Switzerland

Switzerland is the crypto-valley of Europe and is seen as an innovation hub. Regarding taxation, the Swiss Federal Tax Administration sees crypto transactions to be the same as traditional fiat transactions and exempts it from tax reporting.

Cryptocurrency investors choose Switzerland for the lack of taxation for profits stemming from crypto trading. Big crypto foundations have also chosen the Swiss as their home, including Ethereum, Tezos, and the Diem Association.

However, the profits of crypto business and professional trading are liable to income taxation, which differs from region to region, and an annual wealth tax.

3. Germany

Germany is one of the top crypto friendly countries, as it’s one of the few crypto tax-free countries in the world.

As opposed to the EU, Germany has a unique take on crypto taxation, and it encourages individual investors. If held for more than a year, the laws exempt bitcoin and other cryptocurrencies from capital gains tax.

If the funds are exchanged for fiat or for other cryptos within one year, you are still exempt from paying tax if your profit is under €600 (~ $700). Beyond that gains limit, investors have to report their income for tax.

However, businesses must report and pay corporate income taxes for crypto gains, and it works the same way as any other asset.

4. Singapore

Known as one of the most developed economies in the world, Singapore, is also one of the best places for business. The nation is quite pro crypto and has issued a series of laws to back them. That’s why Singapore continues to attract crypto organizations and investors.

Singapore is a fintech hub in the Southeast Asia region.

Singapore doesn’t have a capital gains tax. Cryptocurrency funds of individuals and companies are not liable to taxation. But Singapore-based companies are liable to income tax, if they operate as a crypto trading company or if they accept crypto payments.

Bitcoin comes under intangible property, not legal tender. The laws view crypto payments as barter trades. It taxes goods and services, but not payment tokens.

The country’s central bank, the Monetary Authority of Singapore (MAS), aims to develop a balanced environment for crypto. The MAS doesn’t look to heavily regulate crypto, but rather to monitor it as a preventive measure to spot money laundering and illegal activities. Bitcoin falls under goods and, as such, experiences goods and services tax.

5. Malta

Home to many crypto and blockchain companies, the famous blockchain island of Europe has many laws favoring crypto investors and entrepreneurs.

Overseas companies operating in Malta and foreign residents receive several privileges. They do not have to pay income and capital gains tax in Malta for long-term investments in digital currencies.

However, crypto trades do receive 35% in income tax as they are the same as stock trading by legal definition. But this too can be lowered to 0–5%, if you benefit from the structuring options offered by the country’s financial system. Malta sees bitcoin and other financial tokens as different assets. Financial tokens can be dividends, interest or premiums, and regular income tax applies to it.

Non-domicile corporations are subject to a 5% income tax. Malta is one of the top crypto friendly countries and a tax haven for foreign entities, companies, and residents.

6. Portugal

Portugal is one of the most attractive crypto friendly countries in the world. As of 2016, the Portuguese Tax Authority (PTA) exempts crypto transactions from capital gains and income tax. Businesses that accept digital currencies for their goods and services are liable to income tax.

7. Slovenia

Slovenia is another small European country with an attractive taxing system for digital assets. The country’s lawmakers are still working on a legal framework to make the tax law clear for all individuals and businesses interested in conducting business there.

Slovenia exempts individuals from capital gains tax when selling bitcoin, as these gains are not seen as income. Companies that receive crypto payments are eligible to pay corporate income tax. ICOs are also subject to taxation. Slovenia doesn’t allow companies to conduct only cryptocurrency transactions, such as accepting bitcoin as the only means of payment.

Other commercial activity that involves cryptocurrency, such as crypto mining, is subject to a 25% income tax.

8. Bermuda

Bermuda is a popular destination for cryptocurrency holders, as it has comparatively favorable standards as far as financial regimes worldwide go. In 2018, Bermuda released the Digital Asset Business Act, which stands as the country’s regulations for digital assets. Famous for its lack of income and capital gains taxes, crypto transactions are also tax-free in Bermuda.

Famous for becoming the first country in the world to accept taxes and fees in cryptocurrency, Bermuda, is a popular destination for crypto investors. As of October 2019, Bermuda accepts payments for governmental services in USD Coin (USDC).

9. Belarus

The president of Belarus, Alexander Lukashenko, wants to turn the country into a crypto-based digital economy. That’s why, in 2017, he signed a new law that legalizes cryptocurrencies. The same decree also exempts businesses and individuals from crypto taxes until 2023, when the law will undergo a review.

Mining and crypto investments are exempted from income tax and capital gains. Belarus wants to boost technological innovation, and it’s one of the top crypto friendly countries in the world for its legal approach and crypto trading.

@ Newshounds News™

Read more:   BeinCrypto  

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Janet Yellen No Red Lights for Financial System  |  Youtube

@ Newshounds News™

Source:  Currency Facts

~~~~~~~~~

Newshound's Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

Seeds of Wisdom RV and Economic Updates Sunday Morning 9-8-24 Part 1

Good morning Dinar Recaps,

THE UN’S SUMMIT OF THE FUTURE IS ONLY WEEKS AWAY YET THE PUBLIC REMAINS IGNORANT

A resetting of the global financial system is a crucial component of their plans.

With the UN’s Summit of the Future less than 20 days away the vast majority of the public has no idea governments of the world are set to sign the so-called Pact for the Future.

On September 22 and 23, the United Nations member states will gather in New York City at the UN headquarters for the historic Summit of the Future with the intention to sign the Pact for the Future. This document is expected to radically accelerate the push towards the completion of the UN Sustainable Development Goals (SDGs) and the Agenda 2030.

The Summit of the Future is taking place during the 79th session of the annual UN General Assembly. The summit has been in the making since at least 2022 after repeated calls by UN Secretary-General Antonio Guterres to shift financial resources to rapidly complete the Agenda 2030 goals set by the UN in 2015.

Although this historic gathering is sure to impact the majority of the world’s population, it has received very little coverage from the corporate media, and almost no coverage from the independent media.

One issue which has received mainstream coverage relates to 77 Nobel Laureates and world leaders signing a letter complaining about references to fossil fuels being removed from the Pact for the Future. The references were later reinserted after the letter was made public.

The discussion about fossil fuels fits the UN’s narrative about impending doom relating to climate change. It is this panic around climate change which has led to the convening of the Summit of the Future and calls for strengthening the UN infrastructure.

The Summit’s theme — “Ultilateral Solutions for A Better Tomorrow” — illustrates the goal of this gathering. Namely, a push for strengthening, and even remaking, the UN to better tackle crises which are ostensibly looming in the coming years.

The UN is focused on several potential planetary emergencies, including climate change, war, biodiversity loss, and environmental degradation. The UN claims these potential crises are too great for any one nation-state to tackle alone, and thus, will require greater cooperation and organization between UN member states.

“We recognize that the multilateral system and its institutions, with the United Nations and its Charter at the centre, must be strengthened to keep pace with a changing world. They must be fit for the present and the future – effective and capable, prepared for the future, just, democratic, equitable and representative of today’s world, inclusive, interconnected, and financially stable,” the latest draft of the Pact for the Future states.

As The Last American Vagabond (TLAV) has previously reported, the Summit of the Future is also expected to include calls for remaking the UN into what has been called “UN 2.0”.

Global Shocks Require Global Government

The 3rd draft of the Pact for the Future was released on August 27 and is currently being reviewed by UN member states. This draft continues the discussion around “global shocks” and how these shocks will require a global response.

For example, one section titled “We will strengthen the international response to complex global shocks”, states that there is a need for a “coordinated and multidimensional international response to complex global shocks and the central role of the United Nations in this regard.”

The UN defines “complex global shocks” as events that “have severely disruptive and adverse consequences for a significant proportion of countries and the global population”. These shocks would require a “multidimensional multistakeholder, and whole of government, whole of society response.”

The document says “armed conflict” does not constitute a complex global shock”, but could lead to “impacts across multiple sectors”.

These potential shocks would necessitate the activation of “emergency platforms” which could grant the UN more power to respond to these apparent emergencies. The document says the UN will present member states with “protocols for convening and operationalizing emergency platforms based on flexible approaches to respond to a range of different complex global shocks”.

While the UN claims these emergency platforms will only be “convened for a finite period”, and will not be a standing institution or entity with respect to national sovereignty, critics of the UN fear that these emergency platforms will be seized upon and used to grant the UN new legal powers.

TLAV has previously reported that calls for an Emergency Platform are similar to calls for the UN to declare a planetary emergency. UN-affiliated organizations like the Climate Governance Commission (CGC) have been calling for such a declaration over the last year.

In late November 2023, just before the opening of the UN Climate Change Conference COP28, the Climate Governance Commission released a report titled Governing Our Planetary Emergency. In this report, the CGC continues their advocacy for updating our ideas on governance.

We can trace the call for a Planetary Emergency back to the infamous but obscure group, the Club of Rome. The CGC’s November 2023 report even notes that the belief in a “polycrisis” is “recognized in the work of the Club of Rome Planetary Emergency Project“.

This reference to the Club of Rome reveals yet another reason the public ought to be concerned with the push for a planetary emergency and claims of crossing planetary boundaries

The Club of Rome has been calling for declaring a Planetary Emergency since at least 2019 with the publication of their “Planetary Emergency Plan”. The report would be updated in August 2020, after the beginning of COVID1984. 

The Club of Rome’s Emergency Plan is described as a “roadmap for governments and other stakeholders to shift our societies and economies to bring back balance between people, planet and prosperity”.

Ultimately, the push for an emergency platform as part of the Pact for the Future is intended to reinforce the idea that humanity is facing a Planetary Emergency which requires the UN’s influence and authority to be increased. 

The document shies away from the term world or global government — instead preferring multilateralism or global governance — but the outcome is the same: a United Nations with more authority to act and compel nation states to comply with its edicts.

For example, under a section titled “Transforming Global Governance”, the UN document outlines “Action 41”:

“We will transform global governance and reinvigorate the multilateral system to tackle the challenges, and seize the opportunities, of today and tomorrow.”

The section goes on to describe numerous ways in which the Pact for the Future intends to transform and empower the UN to tackle the emergencies facing the planet.

Resetting the Financial System

The latest draft of the Pact for the Future also outlines specific ways in which the “international financial architecture” should be reformed so that it “supports countries equitably during systemic shocks and makes the financial system more stable.”

Specifically, section 82 states that the “growing frequency and intensity of global economic shocks” has slowed down progress on the completion of the UN SDGs. The solution, according to the Pact, is to “recognize the role of Special Drawing Rights (SDRs) in strengthening the global financial safety net in a world prone to systemic shocks”.

SDRs are not considered a currency but instead are considered “foreign exchange reserve assets” which allow IMF member nations to exchange SDRs for a currency held by IMF members. Interestingly, independent researcher James Corbett warned about the potential for the SDRs to become a “world reserve currency” as far back as 2013.

The Pact for the Future makes it clear that SDRs will indeed play a major role in the transformation of the international financial system.

“We welcome the pledges to rechannel over $100 billion worth of SDRs to developing countries while stressing the urgency of delivering on these pledges to developing countries as rapidly as possible,” the draft states.

The draft also notes that the UN will call on nations to “continue to explore options to voluntarily rechannel at least half of SDRs from the 2021 allocation, including through multilateral development banks, while respecting relevant legal frameworks and preserving the reserve asset character of Special Drawing Rights.”

Further recommendations of the draft include encouraging the International Monetary Fund to “explore all options to continue to strengthen the global financial safety net” to help developing nations respond to “macroeconomic shocks”.

Under “Action 55” it states, “We will accelerate the reform of the international financial architecture so that it can meet the challenge of climate change.”

The Pact mentions Multilateral Development Banks again, calling on these institutions to “increase the availability, accessibility and impact of climate finance to developing countries” and supporting these countries as they develop strategies to fight climate change.

There are multiple sections in the draft with references to these banks and their need to “mobilize additional financing” to support “adaptation and deploy and develop renewable and energy efficiency technologies”.

The document repeatedly mentions these “Multilateral Development Banks” and they are clearly going to be an important piece of the UN 2.0 system. TLAV will be investigating these institutions in future reports.

The stated goal of reforming the international financial system to fund the SDGs and Agenda 2030 mimic recent statements made by UN Secretary General Antonio Guterres where he called for a “new Bretton Woods moment”, referencing the infamous 1944 international agreement that established the IMF.

The Breton Woods meeting also adopted rules for governing monetary relations among independent states, including requiring each nation to guarantee convertibility of their currencies into U.S. dollars.

Guterres noted that in 2022 the IMF allocated $650 billion in SDRs, with the European Union nations receiving 160 billion dollars in SDRs and African countries receiving only 34 billion dollars.

Additionally, a UN document on the Summit of the Future titled, What Would it Deliver?, calls for “A Global Financial System That Works For All”.

“A transformed international financial architecture is fit for purpose, more inclusive, just, representative, effective, and resilient, responsive to the world today rather than as it looked following the Second World War. This architecture invests up-front in SDGs, climate action, and future generations.”

These calls mirror similar ones made during the “Summit for a New Global Financing Pact” held in Paris, France in June 2023.

The Summit, led by French President Emmanuel Macron, welcomed 50 heads of state, representatives of NGOs and civil society organizations to discuss the effort to reset the international financial system as part of the continued push towards the 2030 Agenda and Net Zero goals.

The French government stated that the objective of the gathering was to “build a new contract between [the global] North and South” which will better equip the nations to fight poverty and climate change. 

The summit was attended by US President Joe Biden, German Chancellor Olaf Scholz, British Prime Minister Rishi Sunak, and Brazilian President Luiz Inacio Lula da Silva. 

In addition to heads of state, the summit was organized with support from the Open Society Foundations, the Bill and Melinda Gates Foundation, and the Rockefeller Foundation, among others.

Based on these previous statements from the UN and the draft of the Pact for the Future, it is clear that a resetting of the financial system is a crucial component of their plans.

If there is any chance to prevent the signing of the Pact for the Future, the creation of emergency platforms, and the potential declaration of a planetary emergency, we must spread the word quickly.

Additionally, we ought to put our energy into the creation of alternative, parallel systems which can compete with the Technocratic State directly. This is why I am helping produce The People’s Reset: UK, “Our Summit for Our Future”, taking place in Bath, UK the weekend after the UN’s Summit.

 For 3 days we will host 24 presenters from around the world with a focus on solutions for creating these much-needed parallel systems in the areas of health, finance, education, digital technology, and community building. Together we can create the more beautiful world we know is possible.

TLAV will be on the ground in New York City reporting from the Summit of the Future. Stay tuned for updates as we document this historic gathering of globalists.

Copyright 2024 The Last American Vagabond

@ Newshounds News™

Source:   Vigilant News 

~~~~~~~~~

BRICS: 3 MAJOR ANNOUNCEMENTS TO EXPECT AT THE 2024 SUMMIT

The BRICS economic alliance is headed toward what may be the most important event in its history. The bloc’s annual summit has become a vital meeting for the group. Moreover, this year’s iteration looks to be filled with the potential for groundbreaking developments to arise. Specifically, the BRICS collective is expected to share 3 major announcements throughout its 2024 annual summit.

In 2023, the group enacted its first expansion since 2001. A landmark moment for the bloc, the United Arab Emirates (UAE), Egypt, Ethiopia, and Iran joining the bloc. With its members now reaching nine, there are some thoughts that this year’s announcements could be even more groundbreaking.

1.  BRICS Pay to Make Its Long-Awaited Arrival

Perhaps the most important focus for the alliance as it approaches its 2024 summit is the arrival of BRICS Pay. For the past two years, de-dollarization has been a focal point for its infrastructure. With talks of a native currency fizzling out, its own payment system is set to be a game-changer.

Blockchain-based, it should be one of the biggest geopolitical and economic developments of recent years. Moreover, it will operate as the global south’s answer to the Western-dominated SWIFT payment system. Specifically, in its allowance of nations to conduct increased bilateral trade in local currencies.

Since 2022, and the weaponization of the US dollar, BRICS has fast-tracked these efforts. Earlier this year, Russia loosened its legal restrictions on cryptocurrencies. Therefore, leading many to believe that this new payment system is critical to its ongoing trade dealings.

It couldn’t have come at a better time either. In the last six months, Russian trade with the bloc has increased 14.7%. That figure is present even with China reportedly returning 80% of all transactions in the Ruble.

The BRICS Pay project is set to be the cornerstone of the event. Its presence should serve as a key turning point for the economic grouping for years to come. Not only is it the natural next step in lessening reliance on the greenback, but it opens a world of possibilities for trade dealings within the bloc.

Earlier this year, Russian President Vladimir Putin traveled to North Korea, Iran, and India to facilitate new trade dealings. These agreements should factor in heavily. Specifically, non-BRICS members should be able to increase trade with the group. Thus, contributing to its local currency goals.

2.  Another Expansion to Grow Bloc Beyond 10 Members

Following last year, the BRICS 2024 summit will see the world anticipate an announcement regarding continued expansion. In 2023, it issued more than six invitations to join the alliance. Subsequently, there has undeniably been increased interest in nations seeking to follow the four countries that accepted.

Earlier this year, more than 30 nations confirmed interest in joining BRICS. Interestingly, that figure may have only gotten bigger as the year has gone on. In a surprising development, NATO member Turkey announced its interest in becoming a member.

They join countries like Venezuela, Nigeria, Malaysia, and Thailand, all seeking entry. Every nation listed has reason to want to become a member. Moreover, they all bring some sort of value to what the collective is building. However, the question of expansion is one only the current members can answer.

The year has been full of uncertainty regarding continued expansion. It is easy to forget that the four nations included in 2023 were the first to join since South Africa more than two decades prior.

There is value to continued growth, but dissension toward the merit of that value. Currently, the bloc appears split on whether or not a 2024 Summit expansion announcement would be beneficial to the overall goals of the bloc.

The Saudi Arabia issue still looms large. Although they accepted the invitation, the nation has yet to join the bloc. That has created concern regarding continued invitations. Earlier in the year, the idea of partner nations—as opposed to full members—was discussed. That is likely to be the announcement, with several of the prospective countries included.

3.  New Development Bank Gets Highlighted as 10-Year Anniversary Approaches

Finally, the BRICS 2024 Summit should place a focus on its New Development Bank. More aptly known as the BRICS Bank, it is approaching its 10-year anniversary in 2025. Therefore, it is expected that a roadmap or strategic announcement of some sort should be in the works.

In August, BRICS Bank president Diane Rousseff noted that local currency promotion remains a main focus. Moreover, the development bank welcomed its first additional member country since 2021. Indeed, Algeria joined the bank in a notable addition.

Therefore, many experts predict the BRICS banks to be involved in some way. It has been a staple of the economic alliance since it launched in 2015. Moreover, it has been key to providing developing nations with access to local currencies. In that sense, it provides an invaluable quality to the purpose of the bloc itself.

Already issuing more than $5 billion in loans, there is more expected. Moreover, native currency loans are expected to become its primary funding method. It is also likely that the BRICS Pay system could become a critical aspect of its operations after it launches in October.

All of these are focal points as the day draws near. Overall, it should be one of the most important geopolitical developments of 2024. Additionally, it could rival the landmark announcements that took place just a year prior.

@ Newshounds News™

Source:  Watcher Guru

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Janet Yellen No Red Lights for Financial System  |  Youtube

@ Newshounds News™

Source:  Currency Facts

~~~~~~~~~

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News, Rumors and Opinions Sunday AM 9-8-2024

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

RV Excerpts from the Restored Republic via a GCR: Update as of Sat. 7 Sept. 2024

Compiled Sat. 7 Sept. 2024 12:01 am EST by Judy Byington

The Stock Market Tanked – Will Take A Global Currency Reset To Recover.
The Great Reset.

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

Fri. 6 Sept. 2024 Social security’s personalized services are down today due to a IT hardware issue. The outage appears to have hit the financial support program around 4AM this morning, and affects online and in-person services you can use to check your Social Security information.  The outage impacts more than 64 million Americans who have registered for a secure personal account in the Social Security portal. https://www.dailymail.co.uk/sciencetech/article-13822707/Social-security-Online-person-services-hit-nationwide-outage.html

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Global Currency Reset:  (Rumors /Opinions)

Fri. 6 Sept. 2024 Wolverine: We are there – at the finish line. This should be our weekend. Anytime after 5 pm and before Sunday. Things are happening now as you don’t see it. Huge platforms have been completed and in a few days they are going to get paid. A lot of bond holders and foundations have received their notification and are flying to Reno or to their respective platform. The Precatorias still have not been released yet. The report of the Precatorias having been released to its Brazilian people was disinformation. The EBS is imminent as I spoke to a contact in New York and he has assured me that there are military presence in New York and there is huge hotel where most military are staying. This is not only in New York but in various cities in USA.

Fri. 6 Sept. 2024 TNT Update: The rates are still live. All kinds of meetings yesterday . Everyone says it’s going to happen by Monday. Some believe this evening.

Fri. 6 Sept. 2024: QFS NEWS: All Banks are Transitioning Over Into the QFS – Start Getting Hold of the ISO 20022 XLM and XRP – 8 Billion People Will Inevitably Transition to the QFS – amg-news.com – American Media Group

Tues. 3 Sept. 2024: BRICS Pay Blockchain System to Launch Next Month? – BRICS news (brics-news.com)

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Quantum Financial System QFS

This is the Great Financial Shift leading to a new Quantum Financial System that can only contain true asset-backed currency. An asset-backed digital currency qualifies as a “currency.”

All currencies will be “Asset Backed” in each country. This could be gold, silver, platinum, oil, precious metals or any other major asset that the country has.

Only two cryptocurrencies will be backed by gold – XRP and XLM!

All others, not backed by assets, will disappear by the end of 2024.

Quantum software and computers make the system the most secure on the planet and impossible to hack.

All banking transactions will eventually be conducted in QFS.

Banks as we know them will change dramatically.

QFS will hold all money in “Digital Form”, although it will still be asset-backed.

All money transfers (moves) will contain at least 50 movement records, which will be stored in milliseconds simultaneously on six main surface server farms.

All cash movements are kept in permanent records. So there is NO f***d or criminal activity that cannot be traced.

All people will have a “digital wallet” account with QFS rather than with a bank. This digital wallet is 100% secure.

You can use your “Debit Card” directly from this account.

You can transfer money with 100% security to any bank account, country, citizen anywhere in the world.

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Fri. 6 Sept. 2024 Golden Redemption: The Birth of USN US Note Backed by QFS Gold-Backed Digital Currency

The collapse of the fiat system has been a long time coming. Historically, fiat money, which lacks intrinsic value, became the global standard in the 20th century. This shift allowed governments and central banks to print money freely, unbound by the tangible value of precious metals. Over time, this led to rampant inflation, economic bubbles, and numerous financial crises. The 2008 financial crisis, fueled by reckless lending practices and inadequate oversight, exposed the vulnerabilities of the fiat system. Governments responded by printing even more money, further eroding the value of currencies and deepening the crisis of confidence.

In the wake of the 2008 crisis, digital currencies like Bitcoin emerged, offering a decentralized alternative free from the grip of central banks and government control. However, these digital currencies were not without their own issues-high volatility, lack of intrinsic value, and associations with i*****l activities limited their ability to truly replace the flawed systems they sought to disrupt.

Enter the USN US Note, a new currency that promises to bridge the gap between the stability of traditional assets and the innovation of digital finance. As the sun rises over the horizon, casting its golden hue across the land, the USN US Note emerges like a phoenix from the ashes of a broken financial system. This currency is more than just a means of exchange; it is a symbol of financial redemption, a return to an era where money was backed by real value-gold. The USN US Note, backed by the Quantum Financial System (QFS) and the undeniable value of gold, stands as a beacon of hope against the backdrop of economic despair and deceit that has plagued us for generations.

For far too long, our financial systems have been mired in manipulation, deceit, and instability. The fiat currency system, with its lack of intrinsic value, has led us down a path of endless debt and economic uncertainty. Central banks, with unchecked power, have manipulated markets, eroded savings, and fostered financial inequality. But now, with the advent of the USN US Note, there is a bold departure from this flawed past.

At the core of the USN US Note’s promise is the Quantum Financial System (QFS), a revolutionary financial network that utilizes quantum computing technology to ensure the highest levels of security, transparency, and efficiency. Unlike traditional financial systems, which are susceptible to hacking, fraud, and manipulation, the QFS is virtually impenetrable. It guarantees that every transaction is secure, transparent, and immutable, restoring trust in our financial systems.

The cornerstone of the USN US Note is its gold backing. Each note is backed by a specific amount of gold, ensuring that it retains intrinsic value. This gold-backed stability provides a safeguard against inflation, making the USN US Note a reliable store of value. It embodies a time-honored principle: money should be grounded in real, tangible assets. By merging the stability of a gold-backed currency with the efficiency and transparency of digital systems, the USN US Note addresses the shortcomings of both fiat and digital currencies.

This new currency represents not just a financial instrument but a revolution in how we perceive and interact with money. The USN US Note, underpinned by the QFS, is set to redefine the future of finance, offering stability, transparency, and true economic redemption. A new era in finance has dawned, bringing with it the promise of a stable and prosperous future.

Read full post here:  https://dinarchronicles.com/2024/09/07/restored-republic-via-a-gcr-update-as-of-september-7-2024/

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

Walkingstick  All the executive levels of the banks in Iraq are going to sit down with the governor of the CBI Alaq and receive instructions on the new currency next week.  

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:
New commercials on TV about global partnership and stability and security of our economic future.  One after another commercials are saying we are stable and secure and how we are open for International companies to come in and invest in Iraq...The whole world is pouring in...This is happening at a very fast pace and we don't even have Alaq here in our country.  

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TOTAL COLLAPSE: German Economy Is DONE as Its BIGGEST Employer Shuts Down Operations

Lena Petrova:  9-8-2024

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

“Tidbits From TNT” Sunday Morning 9-8-2024

TNT:

Tishwash:  Opportunities in Iraq” after overcoming “years of turmoil” at an international conference in Washington

The American Atlantic Council Institute announced that it will organize a conference on Iraq in Washington on October 15, with the participation of current and former politicians and experts from the United States and Iraq, where it will address opportunities and challenges in relations, overcoming years of turmoil, with a focus on the energy sector, and diversifying the Iraqi economy. 

According to the American Institute, the conference, which is being held within the framework of the "Iraq Initiative", under the title "The Path to Recovery, Development and Global Partnerships in Iraq", will bring together a diverse group of senior experts, researchers and policy makers from both the United States and Iraq, including current and former senior officials. 

The report, translated by Shafaq News Agency, explained that the conference, the third of its kind for the "Iraq Initiative", will address the major challenges and opportunities facing Iraq as it begins to overcome years of volatility, with early signs of recovery and development. 

The report added that the conference will focus this year on the advancement of the energy sector, the efforts of the Iraqi government towards sustainable economic diversification, and the evolving path of the US-Iraqi relationship. 

The report added that the conference will witness dynamic discussion panels that explore how Iraq, the United States and the international community can interact positively with Iraq as it moves through its unique social, political, economic and security changes.

The report added that the conference will witness direct personal participation and via video, and will include translation into Kurdish and Arabic. 

The report concluded by saying that the "Iraq Initiative" program provides transatlantic and regional policymakers with unique insights and analyses on the ongoing challenges and opportunities facing Iraq as the country attempts to establish an inclusive political system, attract economic investment, and stimulate a vibrant civil society.  link

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Tishwash:  Government Advisor: We are working on developing a tax system that is attractive to investors

The head of the Supreme Committee for Tax Reform, the Prime Minister’s Advisor for Economic Affairs, Abdul Hussein Al-Anbaki, announced today, Sunday, a three-pronged plan for tax reform. While he indicated that facilitating measures would be taken regarding the tax administration, he confirmed that previous fines would be exempted for many groups to restore the confidence of taxpayers in paying taxes.

Al-Anbaky said in an interview with the Iraqi News Agency, which was followed by "Al-Eqtisad News", that "some media outlets interpreted the tax reform as aiming to increase non-oil revenues, and this interpretation is not scientifically sound," indicating that "the main goal of the tax reform is to create an easy and transparent tax system that is friendly to the business environment and attractive to investors, because the tax rate is not the basis, but rather the tax rate when multiplied by the tax base is the result of the tax revenue."

He continued: "We seek in tax reform to have a large tax base," explaining that "when the tax base is large, tax revenue will inevitably increase, even if tax rates are the same and at lower rates."

He added that "tax revenue is a by-product of the tax reform situation and not the basis for which the tax reform is launched," noting that "the Supreme Committee for Tax Reform wants to achieve tax justice and make tax accounting easy and transparent and does not want there to be cases of extortion, obstruction and delay of tax procedures."

He pointed out that "many facilities have been made, which ultimately lead to restoring the confidence of taxpayers in paying taxes in the tax administration," indicating that "many categories have been exempted, the cases of allowances have been expanded, and they have been exempted from previous fines and accumulated interest in order to restore the confidence of taxpayers in the tax administration."

He said, "When taxpayers come to account, this will lead to an increase in tax revenues," stressing that "the aim of these measures is to create a tax system that is attractive to investors and not just to seek to increase tax revenues because increasing tax revenues is a foregone conclusion."  link

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

Tishwash:  Central Bank of Iraq announces comprehensive banking reform map

After the Central Bank delegation returned from the last round of negotiations with the US Treasury and the US Federal Reserve, it revealed the roadmap for radical and comprehensive banking reform, which begins with working to cancel...

 The electronic platform for foreign transfers, which was implemented as a first stage to reorganize financial transfers in a way that ensures proactive control over them instead of subsequent control. This was a temporary exceptional measure and a gradual shift was planned towards building direct relationships between banks in Iraq and foreign correspondent and approved banks, mediated by an international auditing company to conduct pre-audit of transfers before they are executed by correspondent banks.

During the year 2024, up until now, 95% of the transfer process from the electronic platform to the correspondent banking mechanism directly between it and Iraqi banks has been achieved. This means that only about 5% of it remains within the platform, which will be transferred using the same mechanism before the end of this year, according to the plan.

Thus, some expectations about possible effects on the exchange rate and transfer operations are baseless, because the process will not be sudden or in one go at the end of this year, but rather it was originally achieved during the past period with effort and careful follow-up, except for the remaining small percentage that will be accomplished in the coming short period.

The Central Bank confirms that trade with the United Arab Emirates, Turkey, India and China represents about 70% of Iraq’s foreign trade as (imports), which prompted the Central Bank of Iraq to find channels for transfer in euros, Chinese yuan, Indian rupees and UAE dirhams, through approved correspondent banks in those countries. (13) Iraqi banks have actually begun to conduct transfer operations with a pre-audit mechanism that has been agreed upon and approved in addition to transfers in dollars.

Providing channels for personal transfers for legitimate purposes and external purchases through electronic payment channels, global money transfer companies, cash sales to travelers, and paying cash dollars for incoming transfers to the parties and purposes specified in the Central Bank’s published instructions.

The Central Bank stresses that it has placed foreign transfer operations and meeting dollar demands on sound tracks consistent with international practices and standards and the Anti-Money Laundering and Terrorist Financing Law.

He explains that providing the aforementioned channels for all purposes at the official dollar price makes this price the true indicator of economic practices, which is proven by the reality of price stability and control of inflation, and any other price traded outside those channels is an abnormal price that those with unorthodox or illegal practices resort to, who move away from official channels in their dealings, so they bear the additional costs alone by purchasing at a higher price than the official price to delude others with the difference between the official price and others.

The map and mechanisms announced by the Central Bank will certainly lead to lifting the confusion and instability in the monetary market, which is prevalent due to the continued imposition of American restrictions on our private banks and directing accusations, slander, rumors, analyses, interpretations and targeting of the Central Bank, and will create a state of optimism by lifting the restrictions imposed on some private banks.

This means that there are great efforts made by the Central Bank, in cooperation with the government, since the beginning of 2023 until now, in the field of implementing the financial and banking reform program and fruitful coordination with financial policy, which refutes the slander. And the accusations and spreading optimism and reassuring the market and citizens. This is what the Governor of the Central Bank had previously emphasized before the Central Bank delegation’s recent trip to America. And the new reform roadmap is a result of the efforts previously made and which the Central Bank has been working on for a year and eight months, and it is as follows:

 - Reorganizing foreign trade financing to achieve several objectives at once, one of which is the transparency of foreign transfer operations that begin with the transfer process and the transferor to the final beneficiary and to the source through all data, documents and information that enhance and match reality.

All large and medium-sized companies are committed to achieving this goal. The problem now is the dealings of small traders outside the operations. 

Foreign transfers are a pressure on the dollar money market and cause it to rise.

- The Central Bank opened channels for the Chinese, Turkish, Indian and Emirati currencies, which are currencies that represent a significant weight in foreign trade, as there was a halt for a period due to a new regulation aimed at providing sufficient control over these operations.

“A new audit mechanism has been put in place by an international company, and the process has been finalised and is now being restarted.”

The Central Bank has continuously urged the opening of relations with correspondent banks, because the Iraqi bank without having external correspondents is considered a local bank and cannot open up to the world.

The Central Bank, for its part, supports and assists this trend.”

- “In light of the new regulation of the foreign exchange process, the real price at which the Central Bank sells more than $250 million daily at the official price should be considered. This means that the bank covers foreign trade, and this explains why there is no inflation or price increases.

The parallel market is a market for those who do not want to go towards the regular methods of transfer and it is an illegal trade or trade that escapes the regular procedures or other illegal operations such as drug trafficking, human trafficking, corruption money, etc.

- Whether the dollar price rose or fell is not a correct indicator, as one must look at what and how much the Central Bank sells at the official price to liquidate various needs.

- That "the primary objective of the Central Bank is to maintain the general level of prices and limit inflation, and this is supposed to be the measure of the success of monetary policy, which has succeeded in controlling this aspect and the level of inflation compared to other countries and even in previous years is much lower, and within the target, and this means that foreign trade, on which Iraq depends primarily to meet the needs of citizens, is covered by the official price."

- “There is great praise in all meetings with international organizations, including the International Monetary Fund, the Federal Reserve, and the US Treasury, for the transformations, management, and organization of the external transfer process in the Central Bank of Iraq at the present time.”  

 And that "the Central Bank's plan until the end of the year will reach 100%, with foreign transfers between Iraqi banks and correspondent banks, without going through the US Federal Reserve.

The plan to reform and lift restrictions on banks includes two axes: the first relates to conducting an audit of previous operations that were suspected by an independent external audit office, some of which have been completed while we await the completion of the audit of others in order to determine the overall picture and classify the nature of these problems and how procedures will be carried out regarding them later.

And to reach a real, stable banking sector that is consistent with what is required at the level of the national economy, and to prevent some banks from remaining marginal and not representing a real addition to the Iraqi economy, and to gain external acceptance through agreement on their implementation of international policies, procedures and standards.

- The Central Bank has not set a quota for foreign transfers for banks, and they can submit whatever foreign transfer transactions they can attract. The Central Bank does not interfere in customers’ choices, and the banks that carry out this process rely on their capabilities to attract their customers.   link

Mot: . Lately -- fer Sure!!! -- siiiggghhhhhh -- becoming Seasoned ....

Mot: what a couple!!!

More News, Rumors and Opinions Saturday PM 9-7-2024

From Recaps Archives……

What does NESARA Law do?

NESARA allegedly implements the following changes:

1. Zeros out all credit card, mortgage, and other bank debt due to illegal banking and government activities. This is the Federal Reserve’s worst nightmare, a “jubilee” or a forgiveness of debt.

2. Abolishes the income tax.

3. Abolishes the IRS. Employees of the IRS will be transferred into the US Treasury national sales tax area.

4. Creates a 14% flat rate non-essential new items only sales tax revenue for the government. In other words, food and medicine will not be taxed; nor will used items such as old homes.

5. Increases benefits to senior citizens.

6. Returns Constitutional Law to all courts and legal matters.

7. Reinstates the original Title of Nobility amendment.

8. Establishes new Presidential and Congressional elections within 120 days after NESARA’s announcement. The interim government will cancel all National Emergencies and return us back to constitutional law.

9. Monitors elections and prevents illegal election activities of special interest groups.

10. Creates a new U.S. Treasury rainbow currency backed by gold, silver, and platinum precious metals, ending the bankruptcy of the United States initiated by Franklin Roosevelt in 1933.

11. Forbids the sale of American birth certificate records as chattel property bonds by the US Department of Transportation.

12. Initiates new U.S. Treasury Bank System in alignment with Constitutional Law

13. Eliminates the Federal Reserve System. During the transition period the Federal Reserve will be allowed to operate side by side of the U.S. treasury for one year in order to remove all Federal Reserve notes from the money supply.

14. Restores financial privacy.

15. Retrains all judges and attorneys in Constitutional Law.

16. Ceases all aggressive, U.S. government military actions worldwide.

17. Establishes peace throughout the world.

18. Releases enormous sums of money for humanitarian purposes.

19. Enables the release of over 6,000 patents of suppressed technologies that are being withheld from the public under the guise of national security, including free energy devices, antigravity, and sonic healing machines.

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From Recaps Archives………

For Dinar - What you will see on Forex or CBI WHEN IT RVs

$ RATE = What you will see on Forex or CBI

$ .86 = 1.162
$ 1.00 = 1.000
$1.17 = 0.854
$1.86 = 0.537
$2.00 = 0.500
$2.50 = 0.400
$3.00 = 0.333
$3.22 = 0.310
$3.46 = 0.289
$3.50 = 0.285
$3.86 = 0.259
$4.00 = 0.250
$4.10 = 0.243
$4.40 = 0.227
$5.00 = 0.200
$5.25 = 0.190
$5.50 = 0.181
$6.00 = 0.166
$7.00 = 0142
$8.00 = 0.125
$8.25 = .0121
$8.50 = .0117
$9.00 = 0.111
$10.00=0.100

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

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

Mnt Goat   I want to begin...with an assurance to everyone that this RV is going to take place soon and is going to be what we expected. There is no way in hell that Iraq is going to move ahead to what they want to do with this country without a globally traded currency and a currency that can compete with many of the other middle eastern countries. The opportunities are just too far great to pass up.  

Walkingstick   They got stability and security.  Sudani has been bragging about it...Lift the three zeros has to do with the value, then not with the value, back and forth, back and forth, it has to do with the value and then, no it doesn't have to do with the value.  The articles are contradicting.  They are lies.  They are misleading with a purpose. 

Gold Backed 'Unit' To Be Discussed At BRICS Meeting In Kazan Per TASS Report

Arcadia Econoics:  9-7-2024

Gold Backed 'Unit' To Be Discussed At BRICS Meeting In Kazan Per TASS Report We just got a big piece of gold news ahead of next month's BRICS summit in Kazan, Russia. To find out what happened, click to watch this brief video now!

https://www.youtube.com/watch?v=kFzJRWJHBx4

400% Total Move In Gold Amid Currency Demise | Gareth Soloway

Liberty and Finance:  9-7-2024

Gareth Soloway is very optimistic about gold's future, projecting that it could potentially rise to $5,000 if the current bull cycle mirrors previous ones.

He underscores that such a significant move would be driven by severe economic factors like the decline of fiat currencies and expansive central bank policies.

Despite recent short-term fluctuations and technical indicators suggesting possible pullbacks, Soloway remains bullish on gold's mid to long-term trajectory, largely due to strong central bank buying and historic patterns.

He notes that gold’s resilience amidst broader market volatility further supports his positive outlook. Overall, Soloway's perspective is that gold could be on the verge of one of its most substantial rallies yet, driven by ongoing global economic challenges.

INTERVIEW TIMELINE:

0:00 Intro

1:30 $5000 gold

 6:00 Silver update

9:50 Stock market

 12:24 Dollar update

15:10 Bitcoin

 17:10 Platinum and palladium

https://www.youtube.com/watch?v=3g_8C0n_MSo

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 9-7-24

Good afternoon Dinar Recaps,

XRP POWERS UP CROSS-BORDER PAYMENTS – RIPPLE’S SOLUTION REDUCES COUNTERPARTIES AND SPEEDS UP TRANSACTIONS

▪️Ripple Payments addresses these challenges faced by businesses, such as liquidity issues and slow settlement, by using XRP crypto and the XRP Ledger.

▪️This system helps crypto businesses streamline operations, improve customer experience, and expand their global reach while reducing risks related to FX and crypto volatility.

With the growing adoption of crypto, traditional financial infrastructure has proven to be absolutely inadequate to cater to the needs of crypto and blockchain-powered companies.

 Thus, in identifying the key challenges for businesses, Ripple is at the forefront of addressing issues related to liquidity, low settlement times, and limited off-ramp options, which have recently stemmed from outdated cross-border payment systems.

Ripple’s recently published report highlights how exchanges, OTC desks, and other crypto companies have faced huge struggles in global transactions.

This has led to a major hindrance in their growth and success while creating a need for real-time cross-border payment solutions that provide transparency and speed as modern digital assets provide.

The Ripple report stresses that real-time payments are crucial in today’s fast-moving crypto space. Customers expect immediate transactions, and businesses require quick, flexible global payouts and instant settlement to ensure liquidity. 

However, traditional financial systems fail to provide the necessary speed, flexibility, or transparency, causing delays and high costs.

The problems increase further with the complexity of establishing global payout networks and the limited availability of off-ramps for digital assets like stablecoins.

Many financial institutions that do provide off-ramp services impose high fees and unfavorable foreign exchange rates, making it costly for crypto businesses to operate. This is exactly where Ripple comes into the picture.

Ripple Payments Provides Some Interesting Solutions

As reported by Crypto News Flash, Ripple payments leverage the XRP digital asset and XRP Ledger blockchain to provide speed, access, and cost-efficiency as requested by Crypto businesses. This system allows for transaction settlement within seconds.

Besides, it operates 24/7, thereby reducing costs by streamlining international payments. This gives crypto companies a competitive advantage by ensuring they can meet market demands quickly and offer better pricing to customers.

Businesses can connect with Ripple’s global payments network to simplify payments using a single API or UI while offering stablecoin and digital asset off-ramps for various currency payouts. This comprehensive solution improves customer experiences, builds long-term loyalty, and strengthens brand reputation.

Ripple Payments is a complete solution for crypto businesses looking to expand their international reach, boost market responsiveness, and mitigate risks associated with FX and crypto volatility.

 As reported by Crypto News Flash, it can also be a game changer for local banks facilitating cross-border business transactions.

On the other hand, Ripple is also building the XRP Ledger with the goals of introducing smart contracts, EVM sidechain, and other innovative NFT features to the XRP Ledger, reported CNF.

@ Newshounds News™

Source:  Crypto News Flash

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IOTA NEWS: GROUNDBREAKING STUDY SHOWS HOW IOTA 2.0 SMART CONTRACTS SECURE SDN

A recent study explores how IOTA 2.0 smart contracts can enhance the security of Software-Defined Networking (SDN), addressing vulnerabilities in SDN’s centralized architecture.

The proposed solution leverages IOTA’s Tangle technology to offer scalability, eliminate transaction fees, and reduce energy consumption.

The latest study conducted explores the integration of IOTA 2.0 smart contracts into Software-Defined Networking (SDN) in order to explore the security vulnerabilities present in SDN’s centralized architecture. Although SDN offers network management solutions with better flexibility and control, its centralized nature comes along with significant security risks.

The paper’s proposed solution leverages IOTA’s Tangle technology, a directed acyclic graph (DAG) structure that boosts scalability, eliminates transaction fees, and reduces energy consumption.

According to the CNF report, the IOTA Tangle Treasury also implemented anti-fraud measures last month.

The study report also introduces three different smart contracts – Authority, Access Control, and DoS Detector – which ensure secure network operations by preserving control data integrity, preventing unauthorized access, as well as mitigating denial-of-service attacks.

Additionally, simulations conducted on the IOTA mainnet and the ShimmerEVM IOTA Test Network demonstrate the effectiveness of these contracts in bolstering SDN security. 

The findings emphasize IOTA 2.0’s potential to offer a decentralized and robust solution for securing SDN environments, thereby promoting the further integration of blockchain technology in network management, as reported by CNF.

Here’s How IOTA 2.0 Smart Contracts Secure SDN
As said, the SDN architecture uses IOTA’s Tangle technology to revolutionize network security via energy-efficient, scalable, and cost-effective solutions for real-time operations. 

Using its Directed Acyclic Graph (DAG) structure, IOTA’s Tangle facilitates parallel transaction processing without the need for miners. This helps in reducing both costs and energy consumption while facilitating secure network management.

As said, there are three smart contracts at the core of the system:

1.  Directed Acyclic Graph (DAG) structure: This acts as a gatekeeper, verifying trusted entities like ISPs while ensuring only authorized participants control network switches and devices.

2.  Access Control: This smart contract regulates communication between controllers and switches, thereby allowing only verified controllers to manage network data flow and preventing unauthorized access.

3.  DoS Detector Smart Contract: This smart contract provides real-time defense against denial-of-service (DoS) attacks by automatically blocking devices that send excessive requests.

For example, an Internet Service Provider (ISP) can securely manage switches across its network using IOTA 2.0’s smart contracts, ensuring all communications are verified and authorized.

Moreover, this decentralized, feeless system offers scalability and resilience, making it an ideal solution for global networks, the Internet of Things (IoT), and industrial applications, per the CNF report.

By decentralizing network management, IOTA addresses the risks of single points of failure and creates a more secure, adaptive system for modern cybersecurity needs.

@ Newshounds News™

Source:  CryptoNews

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STABLECOIN ECONOMY EXPANDS $1.08B IN 2 WEEKS DESPITE REDUCTIONS IN KEY COINS

In the past 15 days, the stablecoin economy experienced modest yet steady expansion, adding $1.08 billion to its overall value. During this time, tether’s market capitalization increased by 790 million.

Modest $1.08B Growth in Stablecoin Market Since Aug. 23

Growth in the stablecoin economy has slowed, though it continues to expand, as highlighted by recent statistics.

 From Aug. 23, 2024, to Sept. 7, 2024, the stablecoin market grew from $169.72 billion to $170.80 billion, a gain of $1.08 billion.

On Saturday, the stablecoin economy dominated trade volume, contributing $80.16 billion of the $114.2 billion traded in the last 24 hours.

Tether (USDT) saw its supply rise from 117.39 billion to 118.18 billion USDT, while Circle’s USDC experienced smaller gains, increasing by 50 million over the 15-day span.

However, DAI’s market supply dropped by 60 million since Aug. 23. Ethena’s USDE supply decreased by 330 million, and although FDUSD briefly surpassed USDE, it has since fallen back.

FDUSD, which stood at 2.65 billion, is now down 90 million, sitting at 2.56 billion today. Despite these reductions, the growth in USDT and several other stablecoins helped the stablecoin economy continue its upward trend, albeit at a slower pace compared to previous weeks. For instance, in the five days leading up to Aug. 23, the stablecoin economy expanded by $1.3 billion.

What do you think about the $1.08 billion added to the stablecoin economy over the last 15 days? Share your thoughts and opinions about this subject in the comments section below.

@ Newshounds News™

Source:  Bitcoin News

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CHAMBER OF PROGRESS DEMANDS CLARITY ON CRYPTO FROM PRESIDENTIAL HOPEFULS

Chamber of Progress has urged the presidential debate moderators to ask for crypto clarity as 18 million Americans await candidate positions.

The Chamber of Progress, a technology industry coalition advocating for digital innovation, has urged moderators of the upcoming ABC presidential debate to include a critical question on crypto regulation.

In a letter sent to moderators Linsey Davis and David Muir on Sept. 5, the organization highlighted the growing role of digital assets in the US economy and called for transparency on the candidates’ positions.

The letter stated that over 18 million Americans currently hold or trade crypto, making it a pressing issue in the 2024 election cycle. It emphasized the importance of addressing digital asset policy in the first debate between Vice President Kamala Harris and former President Donald Trump.

The letter added:

“Voters deserve to know where the nominees stand on crypto before they head to the ballot box in November.”

Rising adoption

According to the letter, crypto has gained traction across various demographics. Recent polls reveal that one in five Americans has invested in, traded, or used crypto.

Moreover, data from the Kansas City Federal Reserve shows that Black investors are more likely to hold crypto than traditional stocks or mutual funds.

With Black, Hispanic, and Asian US adults accounting for 20% of crypto users, the letter noted that crypto policy has become a key issue for underrepresented communities.

Additionally, polling data cited in the letter suggests that Gen Z and Millennial voters are particularly invested in digital asset policy. More than half of these groups support a federal approach that fosters crypto use in the US.

As the 2024 election approaches, 52% of voters believe increased regulation of digital assets is necessary, with one in five registered voters considering it a major issue when casting their ballots.

Clear stance on digital assets

The letter also highlighted the evolving positions of the two major candidates. Former President Trump, who once referred to crypto as a “scam,” has since reversed his stance and is now actively courting crypto voters. His campaign has built a “crypto army” aimed at mobilizing supporters in favor of digital asset adoption.

On the other hand, while Vice President Harris has not yet released a formal crypto policy agenda, one of her senior advisors recently indicated that she is open to regulation that would promote the industry’s growth while protecting consumers.

The letter the need for the candidates to explain how they plan to balance nurturing innovation with safeguarding consumer interests. It added:

“A crypto question at September’s debate could bring voters some much-needed clarity on this important issue.”

With the rising adoption of digital currencies and ongoing discussions about regulatory frameworks, the Chamber of Progress hopes this debate will provide a platform for clear positions on the future of crypto in the US.

@ Newshounds News™

Source:   CryptoSlate  

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US NATIONAL DEBT EXPLODES BY $684,322,497,000 IN THREE MONTHS AS FITCH WARNS AMERICA HAS FAILED TO FIX GROWING DEBT BURDEN

The US national debt has ballooned by over half a trillion dollars in just three months.

According to the U.S. Treasury, America’s national debt jumped from $34,635,364,143,328 on June 3rd to $35,319,686,640,609 on September 3rd – a surge of $684,322,497,000.

The massive rise is coming just over a month after the US national debt crossed the $35 trillion mark.

The US credit rating giant Fitch continues to sound the alarm on the growing debt and deficit.

In a new rating action commentary, Fitch says it is affirming its long-term “AA+” rating for the US with a stable outlook due to the nation’s high per capita income, position as the largest economy in the world and dynamic business landscape.

But the agency says it is not ready to upgrade the country to the “AAA” rating due to the nation’s underlying fiscal conditions.

“The ratings are constrained by high fiscal deficits, a substantial interest burden and high government debt, all of which are more than double the ‘AA’ rating medians…

The government has failed to meaningfully tackle large fiscal deficits, the growing debt burden and looming increases in spending associated with an aging population.”

The rating giant notes that the US has a significant edge over other nations due to the dollar’s status as the world’s reserve currency. But trust in the US and the dollar may erode if the country continues to rely on debt to fund expenses.

“However, persistent rises in the public debt burden would increase vulnerability to economic and confidence shocks.”

Last year, Fitch downgraded the long-term rating for the US from the “AAA” gold standard to “AA+,” citing expected fiscal deterioration over the coming years.

Source:  Dailyhodl

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CBI'S BIG MOVE CONTRACTS WITH VISA, MASTER CARD AND MONEYGRAM  |  Youtube

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Source:  Currency Facts

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Okie's  NDA Secrets  Why Catfish Stay Safe!  |  Youtube

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Source:  Currency Facts

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The Future of Money RV, GCR, and QFS  |  Youtube

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Source:  Currency Facts

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China's New Forex Tool Game Changer  |  Youtube

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Read more:  Currency Facts

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