Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 9-10-24

Good Afternoon Dinar Recaps,

IOTA NEWS: LEADING BLOCKCHAIN INNOVATION IN EUROPE WITH WEB3 SOLUTIONS AND REGULATORY COMPLIANCE

▪️IOTA has highlighted some key developments and achievements that position it as a reliable partner in the European setting.

▪️Recently, IOTA was shortlisted as one of the three finalists of the European Blockchain Services pre-commercial procurement (PCP).

IOTA (IOTA), in a recent blog post, detailed how its consistent demonstration of values makes it a reliable partner for both regulatory solutions and technical advancement in the DLT ecosystem. Outlining some of its key updates, the post mentioned the selection of its Web3 identification solution for this year’s Sandbox.

For context, the European Blockchain Sandbox initiative is backed by the European Commission and is meant to supervise the creation of a pan-European framework for regulatory discussion, as CNF recently explained. The selected IOTA solution was designed as an advanced user authentication system to solve the issue of reliable identity verification in the Web3 ecosystem.

It offers a flexible, feeless, and scalable solution that complies with EU regulations, while its open-source software enables organizations to develop and operate public services. The technology is also environmentally friendly as it does not require proof of work and therefore consumes less energy – an important factor to consider when scaling these solutions across Europe.

Another achievement highlighted in the post is its emergence as one of the three finalists known to have completed the two-year European Commission-funded project – European Blockchain Services pre-commercial procurement (PCP).

According to our previous report, IOTA passed the various phases of the project with excellent marks from an initial 30 projects. The first phase of the PCP witnessed the development of prototypes such as digital products and passports. This was meant for recycling and cross-border management of intellectual property rights.

IOTA in the Face of European Regulators
According to the team, IOTA is undertaking serious initiatives to meet the new standard set for the European crypto market. Some of the efforts to comply with the Markets in Crypto-Assets (MiCA) regulations include policy revision, whitepaper updates, and energy transparency.

Over the years, it has attained membership in multiple renowned organizations and alliances, including the International Association for Trusted Blockchain Applications, the European Blockchain Association, etc. For now, it is effectively demonstrating the implementation of the EU regulations through legally compliant products.

For example, the Eviden Digital Passports Solution powered by IOTA not only complies with the EU Battery Regulation but also adheres to the overarching Eco-design for Sustainable Products Regulation (ESPR) ESG reporting rules and supply chain regulations. Additionally, IOTA’s involvement in TLIP to improve cross-border trade further showcases the adaptability and regulatory alignment of its technology.

According to the post, the mission of the IOTA Foundation is to be a pioneer in integrating blockchain and Web3 technologies across various industries. With respect to this, the team is working with the European regulators and commercial partners to bring the financial sector on-chain through tokenization, develop stablecoins that are fully compatible with Web3 technologies, explore the intersection of Artificial Intelligence and crypto, etc.

IOTA is uniquely positioned to help Europe achieve this lead position, offering scalable, energy-efficient, and regulation-compliant solutions that align with the EU’s vision for a digital and sustainable future.

@ Newshounds News™

Source: Crypto News Flash

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ANNOUNCING THE RELEASE OF CARDANO GOVTOOL

We are thrilled to announce the launch of a groundbreaking tool for the Cardano community: Cardano GovTool, which is now live on the Cardano mainnet. This core governance tool is a significant step in advancing Cardano's decentralized governance structure, designed to align with the governance framework laid out in CIP-1694.

What Is the Cardano GovTool?
The Cardano GovTool is a community-driven platform designed to streamline and enhance the governance process within the Cardano ecosystem. It enables ada holders to participate in key governance actions, from delegating their voting power to proposing and voting on governance actions.

This tool is central to the ongoing decentralization of Cardano, putting the governance process firmly in the hands of the community.

What Can You Do with Cardano GovTool?
GovTool provides an accessible interface that empowers ada holders to shape Cardano's future. Specifically, it allows you to:

▪️Find and delegate voting power to DReps: delegated Representatives (DReps) play a crucial role in governance, and the GovTool makes it easy to discover and delegate your voting power to them.

▪️Register as a DRep: if you want to take a more active role in Cardano's governance, you can register to become a DRep and represent the community's interests.

▪️Propose and submit governance actions: you can propose initiatives and changes that community members can review and vote on.

▪️Vote on governance actions: like all ada holders, you can represent yourself and vote on governance actions or allow DReps to vote on your behalf, ensuring your voice is heard in decision-making.

Important Note: Bootstrapping Phase
During the initial bootstrapping phase, the Cardano GovTool supports only the submission and voting on info-type governance actions. These actions serve as information-sharing mechanisms to test the system and establish a foundation for more complex governance actions in the future.

Who's Behind Cardano GovTool?
The Cardano GovTool is an open-source project. Four main contributors collaborated to develop and maintain GovTool: Byron Network, DQuadrant, Bloxico, and WeDeliver. These maintainers ensure the tool's ongoing functionality and welcome open-source contributions from the wider Cardano community. This collaborative approach highlights Cardano's decentralized ethos, where anyone can contribute to the growth and development of the ecosystem.

A Landmark Moment for Cardano Governance
This release marks a monumental achievement for the Cardano ecosystem. Governance has now been officially handed over to the ada holders, who can now steer the future of Cardano through direct participation. Intersect, the organization facilitating this release, is proud to have guided the development of the GovTool, supporting the community in taking full ownership of governance.

Simple and Accessible Interface
One of the main goals of the Cardano GovTool is to make governance accessible to all. With a user-friendly interface, it is easier than ever for ada holders to engage with governance, regardless of their technical expertise. The interface simplifies the process, making it intuitive to find DReps, submit governance actions, and vote, ensuring that everyone can participate in shaping the future of Cardano.

@ Newshounds News™

Source:  Intersect

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RIPPLE’S GARLINGHOUSE HINTS AT FUTURE YEN STABLECOIN, PRIORITIZES U.S. ROLLOUT

▪️In a recent interview, Ripple CEO Brad Garlinghouse hinted at the potential for a yen-backed stablecoin.

▪️While he acknowledged strong demand for a yen-pegged stablecoin, Ripple’s current resources and focus are on successfully rolling out RLUSD.

Ripple CEO Brad Garlinghouse recently hinted at the possibility of launching another stablecoin in the future. In an interview with a leading media house, Garlinghouse emphasized that even though Ripples’s current focus is on the US-pegged stablecoin, RLUSD, “People will want to hold yen stablecoins, and I think that is only a matter of time.”

While Garlinghouse acknowledged Japan’s conservative nature, the Ripple boss found the market to be “really healthy” in other respects. Notably, this is the same nation where 80% of its banks have partnered with Ripple.

In the interview, Brad Garlinghouse went ahead highlighting that Japan “leaned in early” on offering a “clear rule of the road” on digital assets and stablecoins. “That has really allowed entrepreneurship and investment to really thrive here in Japan,”

Comparatively, Brad reiterated that the U.S. has “certainly been behind” other countries, including Japan, the United Kingdom, and Switzerland. Despite the potential for a yen-backed stablecoin, Garlinghouse made it clear that “ Ripple, in particular, is focused on let’s get live with the U.S based stablecoin” which is the RLUSD. Therefore, The launch of a yen-backed stablecoin would likely come after RLUSD has established itself in the U.S. market.

While he acknowledged strong demand for a yen-pegged stablecoin, Ripple’s current resources and focus are on successfully rolling out RLUSD. Earlier, Ripple’s CTO David Schwartz indicated via tweet on the X platform that RLUSD might likely be accessible only to institutions, at least initially.

A key issue that we will continue to make sure we are partnered with US regulators before we go live with the stablecoin[…] We will first issue it in the US, but we think there is an opportunity for stablecoins globally, and certainly in Japan, he explained.

The SEC’s scrutiny has highly affected Ripple’s approach to the US market, prompting it to focus on specific offerings. As we earlier reported, The Ripple boss candidly refuted plans for a U.S. IPO instead the company is keeping a close eye on a London IPO. Ripple CEO Brad Garlinghouse has been mostly vocal about the challenges posed by the U.S. SEC, especially when a company tries to go public.

Ripple is nearing the launch of RLUSD, and according to Garlinghouse, it will be “in weeks, not months,”  though the exact timing depends on regulatory approval. Notably, Ripple has been working closely with U.S. regulators, particularly the New York Department of Financial Services (DFS), to ensure compliance.

Meanwhile, at the time of writing, XRP is swapping hands with $0.53, marking a 1.20% surge in the last 24 hours.  

@ Newshounds News™

Source:  EthNews

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SILVER INVESTING IS ABOUT TO GO TO THE NEXT LEVEL  - Economic Ninja  |  Youtube

@ Newshounds News™

Source:  Currency Facts

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A HUGE THANK YOU TO DINAR RECAPS

@ Newshounds News™

Source:  SOWT 

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IS CRYPTO IMPORTANT? HOW? THE QFS BROKEN DOWN!  Youtube

@ Newshounds News™

Source:  Currency Facts 

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More News, Rumors and Opinions Tuesday Afternoon 9-10-2024

Gold Telegraph: Gold Always Takes Center Stage Through Monetary Resets

Tuesday, 10 September 2024, 0:13 AM

Gold Telegraph  @GoldTelegraph    BREAKING NEWS

A TOP OFFICIAL FROM SAUDI ARABIA SAID THE COUNTRY IS OPEN TO NEW IDEAS, INCLUDING THE USE OF THE YUAN IN CRUDE SETTLEMENTS

Boom.

The world is changing.

“Saudi Arabia’s minister of industry says country willing to try new things in relationship with China, Chinese companies welcome…”

Source: https://www.scmp.com/economy/global-economy/article/3277788/saudi-arabia-open-petroyuan-closer-china-ties-minister-says

Things happen slowly, then suddenly, they are here.

Gold, the immortal constant, always takes center stage through monetary resets.

It is at the heart of it all.

Saudi Arabia’s shift to settling oil transactions in yuan instead of the US dollar is a game-changer.

We are talking about the world’s largest oil exporter and importer.

Reminder, Saudi Arabia joined a China-led central bank digital currency project in June.

Big moves…

Source(s):
https://x.com/GoldTelegraph_/status/1833274443029966932
https://x.com/GoldTelegraph_/status/1833275356117405921
https://x.com/GoldTelegraph_/status/1833276606196195595
https://x.com/GoldTelegraph_/status/1833278270164636027

https://dinarchronicles.com/2024/09/10/gold-telegraph-gold-always-takes-center-stage-through-monetary-resets/

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DJ:  DID YOU KNOW?

Sept 8th Post 2024 (Do you really want to know?)

Have you ever heard the quote “be careful of the questions you ask, you may not like the answer”? The details and mechanisms behind the GCR/RV implementation are vast and complex. To believe it will be all blue sky’s, green grass and flowers is just being naive.

I like all- beef hotdogs. But if I ever saw how the hotdog was made I’d probably never eat another one. (That’s why I choose to not find out) For that matter, if you ever saw how a lot of the stuff you eat is made, you wouldn’t eat it and all of us would probably become vegans.

The GCR/RV is the same. If you knew what actually has to take place for the event to transpire, one might have second thoughts if it is a good thing or not. Don’t get me wrong, ultimately the math says it most certainly will be beneficial in the long-run. But the transition and integration of this new system, at first and for a while, will be painful. There is going to be some weeds in this garden.

Asking questions or seeking information you may not like the answer to is a potential downside of excessive curiosity. Human beings possess an innate addiction to curiosity, a driving force that has fueled our evolution, discoveries, and creativity throughout history.

When we seek truth or deeper understanding, we risk uncovering uncomfortable or unsettling information that challenges our beliefs, values, or perceptions. Some truths may be difficult to accept and can lead to emotional distress, disappointment, or even regret, especially when the answers disrupt our sense of security or cause internal conflict. While curiosity can foster growth, it also requires a certain emotional resilience to handle the answers we may not want to hear. Engaging in these types of inquiry demands a readiness to face uncomfortable realities, which can sometimes be more harmful than enlightening if we’re not prepared for the consequences.

While curiosity is often seen as a positive trait, excessive or unchecked curiosity can lead to potential harms and can become a distraction, causing people to lose focus on important tasks or responsibilities as they chase endless new information.

In a world overloaded with data, an overwhelming urge to know everything can result in mental fatigue, anxiety, or burnout, especially when the pursuit of answers yields more questions than clarity. Balancing curiosity with caution is essential to avoid these pitfalls.

At times we may be better served not knowing certain answers. There are situations where remaining unaware can protect our emotional well-being and maintain a sense of peace. knowing too much about the future could lead to an unnecessary anxiety, distrust, or a loss of contentment in the present. In some cases, ignorance can even provide a buffer from overwhelming or distressing realities, allowing us to focus on what we can control rather than becoming paralyzed by information we cannot change..

Certain mysteries may not have clear answers, and obsessively pursuing them can lead to frustration rather than satisfaction. In these instances, embracing uncertainty or letting go of the need to know can be a form of wisdom, enabling us to navigate life with greater calm and acceptance.

Do we really need to know what is going on behind the scenes of the GCR/RV? Throw a hotdog on the grill and call it a day.

DJ

https://dinarchronicles.com/2024/09/09/the-office-of-poofness-weekly-report-update-from-poof-and-dj-9-9-24/

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

Frank26    [Iraq boots-on-the-ground report]  FIREFLY:
A big delegation including Alaq...He went to Erbil for the economic meeting.  There was a closed meeting after the main meeting.  We expect it was mainly about the oil and gas HCL they have been talking to us about.   FRANK:  This is all monetary reform education. 

 Militia Man  Article:  "The Parallel Market will be upended"  Quote:  "Expected decision from the central bank will confuse markets and raise exchange rates...These decisions will lead to an increase in the dollar exchange rate"  When you're talking about the parallel market you're talking about a black market...an illegal market, that's subverting the platforms to get the dollar.  That's coming to an end...They're saying, parallel market...you're going to have a problem.  If you don't fix it you're going to get hurt [If you're holding dollars and not dinar].  They're giving them [Iraqi citizens using the black markets] numerous warnings [to get out of the dollar].

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Russia Rapidly Buying Gold | Mario Innecco

Mario Innecco discusses the shifting global dynamics as BRICS countries—Brazil, Russia, India, China, and South Africa—move away from reliance on the US dollar and increasingly invest in gold.

Innecco also touches on the expansion of BRICS, with Turkey and other nations expressing interest in joining, and explores the potential impact on Western economies, including higher interest rates and increased commodity prices.

He notes that despite Western perceptions of BRICS nations as authoritarian, these countries are growing in economic power and influence. Finally, Innecco underscores the importance of precious metals as a hedge against these global shifts and potential economic crises.

INTERVIEW TIMELINE:

 0:00 Intro

1:30 Russia buying gold

4:00 Turkey joining BRICS?

 7:08 BRICS & the West

10:45 Free markets & free speech

16:27 Relocation

https://www.youtube.com/watch?v=y0OoHbnUnVc

“Tidbits From TNT” Tuesday 9-10-2024

TNT:

Tishwash:  Investment Authority: Iraq’s entry into the New York and Singapore agreements achieves its transition by attracting funds to the Iraqi market

The head of the National Investment Commission, Haider Mohammed Makiya, confirmed on Monday that the presence of a high-ranking Egyptian economic delegation in Baghdad represents a genuine common desire to increase economic and commodity exchange between the two countries, pointing out that Iraq’s entry into the New York and Singapore agreements has achieved a noticeable transition in attracting funds to the Iraqi market.

A statement by the Commission, seen by "Al-Eqtisad News", stated that the Chairman of the National Investment Commission, Haider Mohammed Makiya, received at the Commission's headquarters a delegation from the Arab Republic of Egypt headed by Deputy Prime Minister and Minister of Transport and Industry Kamel Al-Wazir and his accompanying delegation, in the presence of the Vice Chairman of the Commission, Salar Mohammed Amin, the Directors General of the Commission, the Egyptian Ambassador to Baghdad, Ahmed Samir, the Second Secretary, Mohammed Shahat, and the Foreign Affairs Advisor, Labib Al-Khudari. 

Makiya stressed - according to the statement - that "the presence of a high-ranking Egyptian economic delegation in Baghdad represents a real common desire to raise economic and commodity exchange between the two countries, and an actual translation of the recent visit of Prime Minister Mohammed Shia Al-Sudani to the Arab Republic of Egypt, which expressed a common desire to establish effective partnerships between the two countries," indicating that "the Commission is concerned with drawing up the investment policy for Iraq, in accordance with Investment Law No. (13) of 2006 and its latest amendment in 2015."

He explained that "the Commission seeks to localize many industries in various economic sectors, including projects supporting solar energy, food security, and renewable energies (blue and green ammonia), in addition to projects in various sectors." Pointing out that "Iraq's entry into the New York Convention, which is the recognition of foreign judgments, in addition to the pre-arbitration mediation agreement (the Singapore Convention), will achieve a noticeable shift in attracting funds to the Iraqi market."

The statement explained that "Makiya welcomed the heads and representatives of the Egyptian companies present in various specializations," calling for "creating a state of effective economic and qualitative integration between the two countries," and at the same time directing "an invitation to Egyptian companies and investors to attend the Iraq Investment Forum, which is expected to be held in early October of this year." For his

part, the head of the Egyptian delegation explained that "the type of partnership we are looking forward to is a joint Iraqi-Egyptian investment that does not serve the interests of a specific party, but rather represents an integrative and effective model," stressing that "the recovery and stability of the Iraqi economy represents an addition and support for the Egyptian economy and the economies of the region."

The Egyptian minister referred to "the experiences of the Egyptian economy in the field of industrial and investment zones, in addition to electricity, cables, wires, factory rehabilitation, sewage, ports, and others."

The statement concluded by saying, "The Egyptian Minister expressed his country's desire to participate and attend the International Development Road project, in which Iraq and Turkey are original parties, along with the states of Qatar and the Emirates, and for Egypt to be the fifth partner contributing to the establishment of this vital corridor that draws the future of the region's economies for the next stage link

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Tishwash:  Rafidain Bank identifies three advantages of electronic payment systems   

Today, Tuesday, Rafidain Bank identified three advantages of electronic payment systems, while indicating the nature of the services provided by these systems .

The Director General of Rafidain Bank, Ali Karim, told the Iraqi News Agency (INA): "Digital payment systems have many points and advantages. In addition to keeping pace with the rapid development taking place in the world, they also provide many services that were not previously available in regular systems . "

He added, "The three most prominent advantages of electronic payment systems are (flexibility and speed), which provide users with greater opportunities to achieve their desires, such as paying or collecting bills and dues, selling, buying, and shopping . "

He continued: “Digital payment systems also feature ‘remote management’, as they give government institutions, companies and owners of digital commercial projects the opportunity to work in several sectors, from different places, and at the same time, all these operations and tasks are organised through different means of connection, and thus the work is completed in one go . ”

He pointed out that "the third advantage of electronic payment systems is (rapid spread), through the high efficiency of connection and networking, which allows tasks to be completed in one go, and the completion of buying and selling operations at high speed, and thus companies and projects that rely on the electronic payment system in Iraq can reach  link

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Tishwash:  Government directive to include these categories in electronic payment

The Government Media Team stressed, on Tuesday, the importance of activating the electronic payment process in all official institutions, while identifying the most important results achieved from activating electronic payment systems and services.

The spokesman for the team, Haider Majeed, said, "The Council of Ministers issued more than one decision to support electronic payment, and the General Secretariat of the Council of Ministers issued a circular to the ministries and entities not affiliated with a ministry and the governorate, on the necessity of adhering to and committing to what is issued by the government regarding activating the electronic payment process for all official institutions," noting that "there is direct coordination between official institutions with the Ministry of Finance and the Central Bank, to provide electronic payment devices in coordination with specialized companies."

He added, "The Council of Ministers stressed the importance of activating this service, which has a positive impact on commercial and financial transactions for all citizens, to facilitate buying and selling operations and protect currencies from damage," indicating that "government and private fuel stations were the first entity to start this process, followed by official state institutions, and it is expanding with the passage of time to include institutions that work with this system."

He added that "the Cabinet's directives also included stores, shops, pharmacies, clinics and all civil activities," stressing that "the use of electronic payment devices began to increase with the passage of time after the success of the experiment, and that the relevant official institutions are continuing to work on implementing the experiment to include government institutions and civil activities successively."

Regarding the achieved results, Majeed pointed out that “bank accounts have grown and are growing with the passage of time using the experiment, as well as the significant increase in the number of bank cards, in addition to the fact that electronic devices and points of sale have begun to grow,” noting that “one of the most important features of electronic payment is that citizens obtain the official exchange rate while using the electronic payment process.”  link

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Tishwash:  Prime Minister: Iraq's doors are open to all activities in order to achieve Arab economic integration

Prime Minister Mohammed Shia al-Sudani stressed, on Monday, that Iraq's doors are open to all activities in order to achieve Arab economic integration.

The Prime Minister's Media Office stated in a statement, seen by "Economy News", that "Prime Minister Mohammed Shia Al-Sudani received the Deputy Prime Minister and Minister of Transport and Industry of Egypt Kamel Al-Wazir, in the presence of the heads of a group of major Egyptian companies in the field of roads, construction and bridges."

Al-Sudani stressed that "this visit is a testament to the fraternal Iraqi-Egyptian relationship that represents the cornerstone in serving our brotherly peoples, and it also reflects the keenness of the leadership of the two countries on serious cooperation," noting that "Iraq's doors are open to all activities in order to achieve Arab economic integration."

The Prime Minister explained that "Iraq is witnessing an unprecedented movement in development and reconstruction," stressing "the importance of forming a follow-up cell to plan projects that Egyptian companies can implement in Iraq." 

For his part, the Egyptian Minister of Transport and Prime Minister conveyed the greetings of Egyptian President Abdel Fattah El-Sisi and Egyptian Prime Minister Mostafa Madbouly, stressing that "this visit is a continuation of what was witnessed during Al-Sudani's recent visit to Cairo, in addition to Egypt's serious desire to expand cooperation with Iraq and President El-Sisi's recommendations in this direction."

The Egyptian Minister of Transport confirmed "working to complete the memorandum of understanding with the Iraqi Ministry of Transport in the field of land and rail transport," expressing "his country's readiness to contribute effectively to the completion of the development road project."

The statement concluded that "the delegation that accompanied the minister included 14 major companies, out of a total of 100 Egyptian companies that requested to participate in projects in Iraq," where representatives of these companies expressed "their readiness to transfer their expertise and partner with Iraq  link

Mot: ... Do you think this miracle is too much to ask for from Santa ?

Mot: . Seeeeeee - Splains Everything!!! 

Seeds of Wisdom RV and Economic Updates Tuesday Morning 9-10-24

Good Morning Dinar Recaps,

SEC crypto enforcement hits $4.7B this year, rising 3,000% from 2023

The SEC is having a record crypto enforcement year, bolstered by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon.

The United States Securities and Exchange Commission has imposed nearly $4.7 billion worth of enforcement actions against crypto firms and executives in 2024, an over 3,000% jump from 2023.

The SEC’s record-setting year was mostly boosted by its massive $4.47 billion settlement with Terraform Labs and its former CEO Do Kwon in June — its “largest enforcement action to date,” according to a Sept. 9 report from Social Capital Markets.

The regulator’s 11 enforcement actions in 2024 netted a 3,018% increase from its $150.3 million worth of fines in 2023 despite taking 19 fewer actions against crypto firms.

The total fine amounts included forfeiture, disgorgement, civil penalties, settlement and prejudgment interest, which were counted from when the SEC initiated the enforcement action.

This year’s hike in fines suggests the SEC has made a strategic shift toward targeting more influential cases.

“This trend indicates a strategic shift by the SEC toward fewer but larger fines, with a focus on making high-impact enforcement actions that set precedents for the entire industry,” the report stated.

The SEC hit the social messaging network Telegram with a $1.24 billion action in 2019, comprised of $18.5 million in civil penalties and $1.2 billion in disgorgement paid back to investors.

Social Capital Market said the case significantly contributed to the average fine rising nearly 2,000% year-on-year to over $70 million in 2019.

The next four years saw the average fine hover between $5 million and $35.2 million before the Terraform Labs case brought 2024’s average fine above $420 million.

GTV Media Group, Ripple Labs, and fraudsters John and Tina Barksdale are among those the SEC has fined with an enforcement amount exceeding $100 million.

That said, 46% of the fines imposed since 2020 have been below $1 million, while 30% fell between the $1 million and $10 million range.

@ Newshounds News™

Source:  CoinTelegraph

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SEC ‘dug in’ on bank crypto custody rule as agency’s stance ‘unchanged’

SEC chief accountant Paul Munter said agency staff views on a divisive rule curtailing banks from offering crypto custody services “remain unchanged.”

The United States Securities and Exchange Commission has seemingly “dug in” on its stance on a rule that would curtail crypto custody services for regulated financial firms.

In a Sept. 9 address to a banking conference, SEC chief accountant Paul Munter discussed the agency’s regulatory stance on accounting for crypto assets, focusing on SEC Staff Accounting Bulletin No. 121 (SAB 121) and its applications.

“The [SEC] staff’s views in SAB 121 remain unchanged,” he said.

“Absent particular mitigating facts and circumstances, the staff believes an entity should record a liability on its balance sheet to reflect its obligation to safeguard crypto-assets held for others,” Munter added.

ETF Store President Nate Geraci said in a Sept. 10 X post that the SEC “appears dug in” on SAB 121.

“They simply don’t want to provide regulated financial institutions with the ability to custody crypto,” he added.

The SEC introduced SAB 121 in March 2022, outlining its accounting guidelines for institutions looking to custody crypto assets.

The rule was divisive in political circles as it virtually prevented banks and regulated financial institutions from custodying crypto assets on behalf of clients.

The SEC believes that entities with such safeguarding arrangements should record a liability on their balance sheets for digital assets.

Munter said the SEC had reviewed various accounting scenarios involving blockchain and crypto assets and acknowledged that not all arrangements fit the proposed guidelines set out in SAB 121.

Bank holding companies that safeguard crypto with bankruptcy protection may not need to record a liability on their balance sheets, he said.

Additionally, “broker-dealers” that facilitate crypto transactions but do control the cryptographic keys may also not be required to record liabilities.

Meanwhile, SEC Commissioner Hester Peirce, who has been vocally against the rule, said on X she continued “to be concerned about the SAB 121 substance and process.”

The US House of Representatives voted to overturn controversial SEC guidance in May. However, President Biden vetoed the repeal the following month.

@ Newshounds News™

Source:  CoinTelegraph

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North Carolina Senate overrides governor veto, passes bill banning CBDC

A North Carolina Senate veto-busting vote saw 12 Democratic Party senators who initially voted for the bill to ban a CBDC switch to backing Governor Roy Cooper’s veto.

The North Carolina General Assembly has passed a bill banning the state from implementing a United States Federal Reserve-issued central bank digital currency (CBDC), with the Senate overriding Governor Roy Cooper’s veto.

The Republican Party-led Senate approved House Bill 690 by a 27–17 vote on Sept. 9, narrowly surpassing the 60% majority needed to override a veto by Cooper — a Democrat — and pass it into law.

It comes after the North Carolina House of Representatives voted to overturn Cooper’s veto in early August in a 73–41 vote.

The bill forbids the state of North Carolina from accepting CBDCs as a form of payment and prohibits it from participating in future CBDC tests conducted “by any Federal Reserve branch.”

Cooper’s July 5 veto followed a lopsided 109–4 vote in the House and a 39–5 vote in the Senate a month earlier.

The latest veto-busting Senate vote was much closer, with 12 Democrats who initially supported the bill flipping to support Cooper’s veto.

Not a single Senate Democrat voted to pass the bill this time.

Blockware Solutions head analyst Mitchell Askew told Cointelegraph it is “amazing” to see CBDCs officially banned in his native state, but he wasn’t pleased with how the Senate vote went:

“12 Democrats flipping their position to support the veto confirms my initial hypothesis that the veto was due to Cooper playing partisan politics.”

In a Sept. 9 X post, Blockchain Association’s head of industry affairs, Dan Spuller, said Cooper’s veto effectively “blew an opportunity” to send a message to the Federal Reserve that North Carolina stands “united” against CBDCs.

Cooper’s office did not immediately respond to a request for comment on the bill’s passing.

While CBDCs have been researched by the Federal Reserve, its Chair Jerome Powell stated on July 31 that “there’s really nothing new going on at all” with a US-issued CBDC.

At a March federal Senate Banking Committee hearing, he said the US was “nowhere near recommending or let alone adopting a central bank digital currency in any form.”

Despite the Fed’s assurances, the US House passed the CBDC Anti-Surveillance State Act in May. A companion bill has been introduced to the Senate by Senator Ted Cruz.

@ Newshounds News™

Source:  CoinTelegraph

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XRP Positioned to Lead the New Financial System, Says Industry Expert

▪️One industry expert says that the XRP community must remain focused on building solutions and not get pulled into the sideshows.

▪️XRP has failed to impress despite most of its peers recording increases to start the week, with the market cap of the XRP Ledger hitting its lowest since January 2022.

XRP has started the week with a worryingly characteristic lack of momentum, gaining a measly 0.2% in the past day to bring its weekly drop to 4.4%, the third-highest drop in the top ten after Ethereum and BTC, respectively.

The dip in the ecosystem market cap can be assessed as a strength as it allows projects to regroup away from the speculation and gives investors a better picture of the project with staying power.

However, it has negative implications as well—for instance, it could signal that projects are leaving XRPL for other chains. It could also discourage new builders from joining and dishearten users from engaging with their favorite XRPL projects. Ultimately, it could erode user and investor confidence, and this can be difficult to recover.

Kirjakulov opines: “Downturns can fuel long-term growth if the ecosystem pivots toward utility and embraces fresh ideas. It’s a moment for XRPL to recalibrate and seize new opportunities, not just a signal of decline.”

Despite the lax performance, some analysts believe that the breakout is near. One analyst points to the consolidation cycle that XRP has been caught up in previously, where a breakout brought about a massive surge to a new all-time high. This same pattern seems to be repeating, as we’ve reported, and a breakout could push the token to new heights.

Focus on Building: Expert Tells XRP Ecosystem

One expert has called on the XRP community to keep building and ignore the price and some of the political issues around the network. Versan Aljarrah, the founder of crypto consultancy Black Swan Capital, noted that the noise around Chris Larsen endorsing Democrat Kamala Harris must not deter progress.

“Focus on the bigger picture. XRP is still building the foundation of the new financial system while Bitcoin’s ties to intelligence agencies remain undeniable,” he stated.

As we reported, Larsen was among nearly 100 other major business leaders who voiced their support for Harris in a statement last week. The move by the Ripple founder contrasts with the company’s incessant criticism of the Biden-Harris administration, under which it was almost brought down by the SEC.

In fact, Ripple has been seen to lean Republican and warm up to Donald Trump, the self-proclaimed crypto saviour. The company’s CLO Stuart Alderoty even donated $300,000 to Trump’s campaign and has attended his events.

With Larsen leaning the opposite way, Ripple seems to be betting on both sides, plausibly to protect its interest regardless of who emerges victorious in the November polls.

@ Newshounds News™

Source:   Crypto News Flash

~~~~~~~~~

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News, Rumors and Opinions Tuesday AM 9-10-2024

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 Tues. 10 Sept. 2024

Compiled Tues. 10 Sept. 2024 12:01 am EST by Judy Byington

Mon. 9 Sept. 2024 BRICS Summit: The Financial Revolution Begins, Charlie Ward on Telegram

At the upcoming BRICS summit in October, the global financial system is on the brink of a revolution. Andrey Mikhailishin, head of the BRICS Business Council’s financial services task force, reveals plans for a new international financial system that aims to shatter the control of Western banking elites.

The plan? A series of groundbreaking projects: a common unit of account (Unit), a platform for international digital currency settlements (Bridge), a payment system (Pay), a settlement depository (Clear), and even a new insurance system. But this isn’t just about new tools. This is about freedom. The Unit will be backed 40% by gold, sending a clear message to the fiat-controlled global system—BRICS is ready to break free.

Iraq Takes Control—Chapter VII Ends: In a major move that has gone under the radar, Iraq is set to regain full control of its currency and economy. Washington has stopped the automatic deductions from Iraqi oil revenues used to pay Kuwait, lifting a huge financial burden on the country. The end of these payments signals the collapse of Chapter VII sanctions, meaning Iraq will now have true sovereignty over its resources and economy. The global shift is happening right before our eyes.

Black Swan Event Foreshadowing the Storm: September 5, 2021—a black swan appeared on Tiananmen Square. In Chinese culture, this is a harbinger of disastrous events. With Xi Jinping’s previous warnings, the sighting sparked global discussion. At the same time, Palantir, a company with deep connections to global intelligence, bought gold as a hedge against this very event.

The World is bracing for the next move in this game of financial chess. And it’s not just coincidence—everything from the Act of 1871 to Washington D.C.’s bankruptcy is being branded illegitimate and illigal. The system is cracking, and gold is at the center of it all.

Fiat Currencies Collapse – Gold is the Future: Federal Reserve Chairman Jerome Powell wants you to believe inflation is just a passing phase. Don’t fall for it. The collapse of fiat currencies is on the horizon, and when that happens, governments will be powerless to finance their agendas. As fiat money burns out, gold will rise as the only currency that can restore trust. The future is clear: the demise of fiat will be the demise of state money, and gold is set to take its rightful place as the foundation of the new economy.

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

Mon. 9 Sept. 2024: U.S. Greenlights Iraq’s International Status! https://youtu.be/ZNc5w6IM8iM?si=mQ8DY7KGi4hDBp9q

Reuters has announced that Iraq and the US have come to a preliminary troop withdrawal agreement starting in Sept. 2024 and going to Sept. 2025.

Read full post here:  https://dinarchronicles.com/2024/09/10/restored-republic-via-a-gcr-update-as-of-september-10-2024/

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

Fnu Lnu   [Reference Fnu Lnu's Post on 9-8-2024 below]  Question:  "You mention Wells Fargo and JP Morgan Chase have the concession for exchanging the Dinar in America and Standard Charter has the concession in Canada and England.  Who is it they have concessions with?"  Iraq / CBI selects banks with whom they are willing to work. These banks get commissions.  They are the primary banks handling exchanges. If you go to the Podunk local bank, they will send the currency to one of the contractor banks. This will not be an ordinary bank currency exchange. Too much confusion to have dozens of different banks sending in currency transactions...

Militia Man   Why is Saleh, the Financial Advisor, talking so much about 'enhancing the value of the local currency'?  Isn't that what we're waiting for?  Article quote: "...Central Bank's policies play a major role in the stability of the currency which achieves harmony between the internal value of the currency and the external value...he added a booming and sustainable economic growth in GDP contributes to enhancing the value and stability of the currency..."  Saleh is opening talking about the value of their local currency, internal/external value, reducing inflation, stability of the value of the currency, strength of the national currency, enhancing the value of the currency.  It's off the charts.  They talk about being historic, with language like that, I'm looking forward to something that's going to historic.

IMPORTANT Update for IQD Investors

Edu Matrix:  9-9-2024

Regardless of what Iraq decides to do, there is profitability on the arisen.

https://www.youtube.com/watch?v=JQh8d-lfmNk

"I Think It's 30 Seconds To Midnight" $10,000 Gold, Crisis & Civil Unrest - Mike Maloney

Join Mike Maloney for an exclusive, behind-the-scenes look at a recent 'Mastermind' session, filmed in Dallas, where Mike was invited to speak to a prestigious investor group known as The Collective ‘Inner Circle’.

These high-net-worth investors pay up to $50k annually for access to the most brilliant minds in finance and investing, and we’re excited to share this rare opportunity with you.

 In this powerful discussion, George Gammon of Rebel Capitalist questions Mike about his outlook on the precious metals market. Later, Robert Kiyosaki - who is also a member of the Inner Circle-presses Mike on the future of the U.S. and the potential for civil unrest.

Mike reveals why he believes a historic financial crisis could send gold soaring past $10,000 per ounce.

Tune in to learn how Mike is preparing for potential economic collapse, his perspective on the turmoil in the monetary system, and why geopolitical tensions could push us to the brink.

Are we on the verge of a massive collapse? Is the countdown to crisis already underway?

https://www.youtube.com/watch?v=JtYOrM2n5X0

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

Good Evening Dinar Recaps,

BRICS NEWS

El Salvador Proposes Crypto Trade With BRICS, Ditching US Dollar

El Salvador proposes crypto trade with BRICS, aiming to reduce dependence on the US dollar and enhance economic cooperation.

Russia's new crypto trade law enables El Salvador to simplify trade and evade Western sanctions, boosting bilateral trade.

El Salvador's crypto integration with BRICS signals a major shift in global trade dynamics, challenging US dollar dominance.

El Salvador recently proposed using cryptocurrency for trade with the BRICS alliance, aiming to reduce reliance on the US dollar. This move follows Russia's recent legislation allowing crypto for international trade. The legal shift, set to take effect in September, allows Moscow to circumvent Western sanctions.

Russian diplomat Alexander Ilyukhin stated this measure would simplify trade for El Salvador, where the dollar is the official currency. The proposal marks a step in El Salvador's ongoing efforts to integrate cryptocurrency into its economy. Furthermore, it aligns with the BRICS alliance's goal of de-dollarization and boosting the use of its own currency.

The BRICS alliance has focused on reducing reliance on the US dollar in recent years. The group seeks to shift international economic dynamics away from Western influence. Russia's legalization of crypto for trade represents a major stride in this direction. Hence, El Salvador's proposal could signal a new era of economic cooperation between the two nations.

Overcoming Trade Challenges and Western Pressure

Moreover, Ilyukhin highlighted the difficulties in trade settlements due to El Salvador's dollar dependency. He noted that El Salvador faces pressure from the West over this proposal. However, the diplomat emphasized the potential benefits of increased cooperation through crypto trade. This move could enhance trade volumes between El Salvador and BRICS nations.

Additionally, El Salvador's interest in joining the BRICS alliance could further solidify these economic ties. Although the country has not yet applied for membership, the potential for collaboration is evident. Consequently, El Salvador's connection to Bitcoin and other cryptocurrencies could facilitate smoother and more efficient trade with BRICS nations.

@ Newshounds News™

Read more:   Binance

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Gary Gensler Fired from SEC by Kamala Harris – Is Bitcoin Poised for a Breakout?

▪️The removal of Gary Gensler as the chairman by the Vice President Kamala Harris has created a lot of ambiguity in the cryptocurrency.

▪️The resignation may well indicate a potential change of tack to a more pro-crypto stance; all the same any significant shifts will likely take time to enact.

▪️Subsequent appointment of Gensler’s successor will have a major influence over the future of the U. S. cryptocurrency regulations and markets.

As part of the role reversal, Gensler, the head of the SEC, has been fired by Harris from his position. This has come as a huge shock in the financial industry especially the cryptocurrency business. SEC under Gensler has been very rigid in its approach towards the regulation of cryptocurrencies and this has not gone down well with proponents of the industry.

The announcement of Gensler stepping down has led to speculations on further shifts in the regulatory framework for cryptocurrencies. Some experts think that this may be a sign of more favorable approaches to the electronic currency. Bitcoin being the most popular cryptocurrency might experience a rise in demand from investors if the barriers created by the regulations are removed.

However, one must add that any major changes in the policy might take time to be effected. This news could elicit short-term movement in the cryptocurrency market, which is historically characterized by high levels of fluctuation. The long-term prospects are still unclear and will depend on the further actions of Gensler’s successor.

@ Newshounds News™

Source:  Crypto News Land

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Charles Hoskinson: Cardano Will Always Be Bitcoin’s Biggest Threat

▪️Charles Hoskinson believes Cardano is Bitcoin’s greatest competitor in the crypto space.  

▪️Cardano’s eco-friendly proof-of-stake system and smart contracts set it apart.  

▪️Hoskinson envisions Cardano evolving, challenging Bitcoin’s rigidity with regular upgrades.

Charles Hoskinson, the founder of Cardano, firmly believes that Bitcoin’s greatest rival has always been Cardano. He’s confident that Cardano is not just another cryptocurrency, but a game-changing platform.

According to Hoskinson, Cardano has the potential to challenge Bitcoin’s long-held position at the top. With its advanced technology and unique approach, many in the crypto world are starting to see his point.

What Sets Cardano Apart?
Hoskinson’s belief in Cardano comes from its strong foundation. While Bitcoin is known primarily as a store of value, Cardano aims to be much more.

Cardano offers a decentralized platform for smart contracts, decentralized finance (DeFi), and a variety of other applications. This broad focus makes it stand out in the competitive cryptocurrency landscape.

One of Cardano’s biggest advantages is its proof-of-stake (PoS) system. Unlike Bitcoin’s proof-of-work (PoW) model, which consumes large amounts of energy, PoS is much more efficient.

This difference makes Cardano more appealing to environmentally conscious investors and developers. As the demand for greener technology grows, Cardano’s eco-friendly approach could give it a significant edge.

Hoskinson’s Vision for Cardano’s Future
Hoskinson has big plans for Cardano’s future. He doesn’t just see it as a competitor to Bitcoin; he envisions it as a blockchain that can evolve and adapt.

This adaptability, he argues, is one of Cardano’s greatest strengths. Regular upgrades, such as the Alonzo update which introduced smart contracts, show the project’s long-term commitment to innovation.

In Hoskinson’s view, Bitcoin’s rigidity could be its downfall. While Bitcoin has widespread adoption and a strong reputation, it lacks the flexibility that Cardano (ADA) has.

Cardano’s strategic vision and technological innovation position it as a serious competitor. Whether it can truly dethrone Bitcoin remains uncertain, but Hoskinson is betting on it.

@ Newshounds News™

Source:  Crypto News Land

~~~~~~~~~

Newshound's Currency Facts Youtube and Rumble

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Economist’s “News and Views” Monday 9-9-2024

This Next Punch Will Take Down the Entire Market Warns Famed Fund Manager

Daniela Cambone:  9-9-2024

Michael Gayed, CFA, drops a bombshell in today's interview with Daniela Cambone:

A looming market crash. Citing a slew of economic red flags, Gayed warns investors to buckle up.

He dives into the reversal of the reverse carry trade, a market dynamic that could ignite volatility.

And to weather the storm, he recommends ditching risky bets and piling into defensive assets like gold, utilities, and long-duration treasuries.

CHAPTERS:

0:00 Bearish Perspective

 1:00 The Reverse Carry Trade

 3:30 September Weakness

6:00 Tech Giants and the S&P 500

8:00 Bond Market Signals

10:00 Economic Warning Signs

 13:00 Inflation Debate

16:00 From Markets to Fitness

https://www.youtube.com/watch?v=GZUviF3D7Ks

Yellen is the 'Salesperson' for the Economy: Will the Fed’s Rate Cuts Backfire? - Peter Boockvar

Kitco News:  9-9-2024

Jeremy Szafron, Anchor at Kitco News, interviews Peter Boockvar, Chief Investment Officer at Bleakley Financial Group, about the U.S. economy, interest rate cuts, inflation trends, and China's impact on the global gold market.

Boockvar dissects the widening gap between Wall Street and Main Street, explaining how consumer experiences differ dramatically depending on income levels.

He critiques Janet Yellen's recent remarks, calling her a "salesperson" for the economy and questions the Federal Reserve's next moves, including the potential rate cuts' irrelevance.

00:00 - Introduction: Yellen on the Economy

02:00 - Yellen's Optimism vs 2008 Warnings

04:30 - Treasury Secretary as Economic 'Salesperson

' 06:20 - Economic Divide: Wealthy vs. Low-Income Consumers

 08:50 - Global Impacts: China and Europe

11:00 - Rate Cut Debate: 25 or 50 Points?

13:40 - Inflation Concerns and Fed Strategy

16:10 - Gold Purchases and Central Banks

19:00 - U.S. Dollar's Impact

21:30 - Upcoming Inflation Data

https://www.youtube.com/watch?v=1Nuhy3DAG48

The Fed Hasn't Done This Since '08... and '01

Heresy Financial:  9-9-2024

TIMECODES

0:00 Intro

0:44 2-Year Treasury Yield

 4:16 What are Interest Rates

7:08 Fed Funds Rate is Controlled by Central Planers

 9:56 Controlled Rate vs Free Market Rate

 12:18 How this Distorts the Economy

https://www.youtube.com/watch?v=6BJqzvvpkJw

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

Good Afternoon Dinar Recaps,

XRP NEWS: TOP CRYPTO FOUNDER CLAIMS XRP CAN BECOME “WORLD MONEY”

▪️Versan Aljarrah highlights XRP’s potential to become a global currency and disrupt traditional banking systems.

▪️Ripple’s technology offers faster, more affordable cross-border payments, partnering with banks to enhance their systems.

XRP, a prominent digital asset in the cryptocurrency market, is gaining attention for its potential to reshape the financial landscape. According to Versan Aljarrah of Black Swan Capitalist, XRP possesses the potential to become a worldwide currency. His recent comments have underlined the role of this asset in subverting conventional banking models and thus integrating itself more into the finance industry.

Ripple’s design enables quick and low-cost cross-border payments, which have long been a problem in the conventional banking system. Ripple, the company associated with XRP, has created technology that helps in the transfer of money across borders. This approach minimizes the cost and time of transactions by speeding up transfer times from days to seconds at a lower cost.

Ripple has been able to foster partnerships with several financial institutions across the globe, making XRP the go-to cryptocurrency in cross-border payments. These partnerships enable banks and payment providers to incorporate Ripple’s product onto their platforms to enhance the efficiency of international wire transfers.

According to Aljarrah, the steady increase in Ripple’s value proves that XRP can compete with the current financial system and should be considered as a mode of transfer for international payments.

Disrupting Traditional Banking Systems

According to Aljarrah, the problem is that many people lose sight of the bigger picture when analyzing XRP and get distracted by the technicalities or the legalities. He stresses the need to concentrate on the progress Ripple has made in transforming the financial sector instead of dwelling on the current challenges. As highlighted by Aljarrah, Ripple’s technology is not an evolution of the current systems but a revolution.

He says that Ripple, which is still under development, is gradually eroding the conventional banking systems. With the incorporation of Ripple’s products, financial institutions have been able to cut down on costs and time taken to accomplish transactions. This is in line with Aljarrah’s perspective, whereby there is increasing belief within some segments that XRP is set to become a major player in the world of finance.

The potential of cryptocurrency to eliminate the existing archaic banking systems is also valuable in the context of growing globalization.

With the increase in global trade and finance, there is a need for effective and cheap methods of making payments. XRP’s ability to meet this demand makes it an important part of the growth of the world financial system.

XRP’s Role in Addressing Global Debt Challenges

One of the key questions regarding the future of XRP is whether it can assist in solving current global debt issues. Aljarrah also focuses on the possibility of the emergence of traditional financial systems due to the overwhelming debt burden, especially in the United States. In such a situation, XRP and other digital assets can be a solution to the broken systems.

Aljarrah had earlier explained that the US Dollar is vulnerable and that XRP could become even more valuable as debt levels around the globe rise.  Ripple’s expanding presence in global finance further strengthens this argument. The company’s continuous development and efforts to integrate XRP into mainstream financial systems are key to its growing acceptance as a potential global currency.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

STABLECOIN AUSDT BACKED BY GOLD AS PRECIOUS METAL MUCH LESS VOLATILE THAN BITCOIN, SAYS TETHER CEO PAOLO ARDOINO

The CEO of Tether says that the stablecoin issuer’s synthetic aUSDT product is backed by gold rather than Bitcoin (BTC) because the precious metal is more stable in price than the crypto king.

In a new interview with Bloomberg, Paolo Ardoino says the firm could have chosen Bitcoin to back aUSDT but BTC’s tendency to go through wild price swings made gold a more preferable option.

“Until 1971, the US dollar was backed by gold and we often hear interest from our customers to have optionality…

[So] we also see the opportunity to provide an [option] for others that want to see a more transparent backing of a synthetic dollar and gold is probably the best asset to make that happen because it’s much less volatile than Bitcoin. We could have done Bitcoin but gold is probably a better choice for the short term.”

Earlier this year, Tether announced that it would be launching aUSDT, which is described as a digital asset over-collateralized by Tether Gold (XAUT), a gold-pegged stablecoin. Each XAUT coin represents exposure to physical gold secured in vaults in Switzerland.

According to Tether, aUSDT is the first product in its new line of Alloy products, which the firm says are “designed to track the price of reference assets through stabilization strategies like over-collateralization with liquid assets and secondary market liquidity pools.”

Over-collateralization occurs when the assets used to back a financial product are worth more than the value of the product itself, protecting investors against potential losses.

@ Newshounds News™

Source:  DailyHodl

~~~~~~~~~

INTRODUCING CREDIT COOP: FINANCING GROWTH WITH FUTURE CASH FLOWS

[PRESS RELEASE – Miami, Florida, September 9th, 2024]

Introducing Credit Coop, a new private credit platform making strides in supporting the growth of the Web3 ecosystem by providing innovative financing solutions that leverage future cash flows. This approach directly addresses the capital constraints that have long hindered the scalability of cryptonative businesses as they seek growth capital to scale.

As the Web3 ecosystem rapidly evolves, companies face significant hurdles as traditional financing models are ill-suited to the industry’s unique needs. Over-collateralization requirements and rigid repayment terms have become major roadblocks, stifling innovation and impeding growth in this dynamic sector.

Credit Coop’s solution offers a way forward. By converting future cash flows into collateral through smart contracts, the platform offers businesses a more flexible and capital-efficient path to funding. This approach has already facilitated the deployment of $15 million in credit across four borrowers, with zero defaults.

“Blockchain technology is redefining finance, yet many companies still struggle to access the capital they need to scale,” said Christopher Walker, Co-Founder of Credit Coop. “We’re here to change that. We’ve created foundational infrastructure for originating structured products natively onchain.

 Our mission is to make credit more accessible, allowing companies to access capital more efficiently and focus on growth.”

Credit Coop’s transformative impact is already felt through the ecosystem. Rain’s Secured Line of Credit exemplifies this power. Within just one year, Rain increased its borrowing capacity from 20,000 USDC to 2,000,000 USDC per month. This remarkable 100-fold increase in financial firepower showcases how Credit Coop’s novel approach is not just enhancing, but fundamentally reimagining the growth trajectory and operational agility of businesses in the crypto space.

“Credit Coop has been a great partner as we’ve explored turning our credit card receivables into a tokenized RWA. They’ve helped make the market for this groundbreaking product and been instrumental in sourcing liquidity,” says Farooq Malik, Co-Founder of Rain.

Credit Coop has received investments from several notable venture firms, including Signature Ventures, Veris Ventures, TRGC, and others, reflecting confidence in its ability to address the financing needs of the Web3 market.

“We’re excited about Credit Coop because they’re not just iterating on existing models – they’re creating an entirely new paradigm for lending,” commented Juliane Hahn, Managing Partner at Signature Ventures. “Their model is setting new standards for capital efficiency, allowing businesses to unlock growth potential that was previously inaccessible.”

Credit Coop’s leadership team has deep expertise in finance, technology, and entrepreneurship, with backgrounds at institutions such as JP Morgan, Barclays, and Amazon. Their experience in structured finance, DeFi, and FinTech positions them well to navigate the evolving digital finance landscape.

With partnerships already established with Plume, Credora, and Index Coop, Credit Coop is positioned to continue supporting growth within the Web3 ecosystem. For businesses seeking to scale operations or investors looking to participate in the future of finance, Credit Coop represents a compelling opportunity at the forefront of blockchain-enabled lending.

@ Newshounds News™

Source:  Crypto Potato

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US Reacts to Turkey's BRICS Move!  |  Youtube

@ Newshounds News™

Source:  Currency Facts 

  ~~~~~~~~~

Western intelligence agencies prepare to sabotage geopolitical transition process

Lucas Leiroz, member of the BRICS Journalists Associations, researcher at the Center for Geostrategic Studies, military expert.

Western intelligence agencies are apparently preparing to face “serious global threats” due to current geopolitical changes. In a recent article for the Financial Times, the heads of the CIA and MI6 – the main American and British secret services – made it clear that their countries see the current process of geopolitical reconfiguration as a threat, having a big effort on the part of these security services to neutralize possible “enemies”.

@ Newshounds News™

Source:  BRICs

More on BRICs in the Late Newsletter

~~~~~~~~~

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

More News, Rumors and Opinions Monday Afternoon 9-9-2024

Gold Telegraph: This is How you Know Desperation is in the Air

Sunday, 8 September 2024

Treasury Secretary Janet Yellen says no red lights are flashing for the financial system.

Welcome to the age of the blind leading the blind.

The BRICS Unit project pegs 40% of its value to gold and 60% to a basket of BRICS national currencies.

This is according to the head of the BRICS Business Council’s task force on financial services.

Boom.

The writing has been on the way for a very long time.

Gold.

The United States is beginning to plan to punish countries that move away from the dollar with some planning tariffs if they get into a position of power

In a free market, countries shouldn’t be penalized for not using a currency

This is how you know desperation is in the air.

The dollar is America’s greatest tool, but punishing those who reject it shows not strength but coercion.

Bullies might get their way for a while, but eventually, they get addressed.

Why can’t they see that?

Source(s):
https://x.com/GoldTelegraph_/status/1832610604949102629
https://x.com/GoldTelegraph_/status/1832625606279991477
https://x.com/GoldTelegraph_/status/1832858822291095874
https://x.com/GoldTelegraph_/status/1832859752331874339

https://dinarchronicles.com/2024/09/08/gold-telegraph-this-is-how-you-know-desperation-is-in-the-air/

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Ariel : Iraq may Target 2024

Sunday, 8 September 2024, 22:51 PM

For those who asked why I think Iraq may target 2024. Well because it’s word around the way even from the most unlikely of sources that fiat will disappear this year. But she of course is not the only one.

Nomi Prins, a former Wall Street executive, has predicted that a major financial crisis could unfold in 2024, driven by political and economic instability.

What could this result from? Well Iraq said they want to support their currency with gold. But if they do they can no longer print money to pay salaries. There is a BRICS meeting next month. And I have already told you all that the requirements to join is ditching the USD for all countries.

So Iraq is in a very tight space at this time. And with very little room to move. They are supposed to start pulling troops out this month and we all know that D. Trump wants them to pay us prior to this. Iraq can not cover their expenses this month based on current financial constraints.

Can things alter in their favor where they could find some flexibility to proceed forward for the remainder of this year without changing the rate? I can not find anything that would potentially be solid enough to afford them that much time if they are ditching the printer.

We will see I guess.

https://twitter.com/lindayaX/status/1623422588776054785

Source(s):
https://x.com/Prolotario1/status/1832858711603487069

https://dinarchronicles.com/2024/09/08/ariel-prolotario1-iraq-may-target-2024/

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

Fnu Lnu  Here's something you can take to the bank. Wells Fargo and JP Morgan Chase have the concession for exchanging the Dinar in America and Standard Charter has the concession in Canada and England. Seems I recall they will have Australia too but don't hold me to that.

Frank26   [Iraq boots-on-the-ground report]   FIREFLY: Sudani...told us the upcoming year the mechanism would be fully engaged to give the citizens maximum benefit.  FRANK:  He didn't say 'Next' year...I think he's talking about the year 2024...because the commercials should be next.  And if that's the case what they show you in those commercials has to be given to you very quickly.  There cannot be a gap between telling you and giving them to you.

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The Value of Real Money in Today's World

VRIC Media:  9-8-2024

Welcome to the official VRIC channel. Today on the channel, Robert Kiyosaki shares a story about how he discovered the manipulation of the money system by the government in relation to silver.

Lynette Zang then explains how real money holds its value over time compared to fiat, ultimately making a case for holding wealth in silver and gold instead of in the banks.

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

“Tidbits From TNT” Monday 9-9-2024

TNT:

Tishwash:  Iraq finalizes strategic agreement with major global oil company

Baker Hughes, the global energy technology company, revealed on Sunday that it is discussing with the Iraqi Ministry of Oil the final touches to a strategic framework agreement, as well as signing a memorandum of understanding in the gas sector, stressing its commitment to the government and its desire to invest in Iraq.

A statement by the media office of Prime Minister Mohammed Shia al-Sudani, received by Shafaq News Agency, stated that the latter received today in Baghdad the Chairman of the Board of Directors of Baker Hughes, a company specializing in oil and gas, and its CEO Lorenzo Simonelli and his accompanying delegation.

Al-Sudani stressed that Baker Hughes is one of the four largest companies in the world specializing in energy and oil services, pointing out that “the government is keen on the company’s presence in Iraq, which was invited to expand investment in it, through cooperation with the government or with the private sector in the field of oil and gas.”

He noted that "the Iraqi market has become a promising market, and that the government is planning major projects, especially integrated projects in the oil, gas and petrochemical sectors."

Al-Sudani pointed to the development path that includes oil and gas transport projects, stressing the importance of completing the projects that the company is working on in Iraq, especially the Nasiriyah oil field in which the company is investing to extract associated gas, with a capacity of 200 million standard cubic feet, which is hoped to be completed in 2026.

For its part, the Baker Hughes delegation confirmed their commitment to the government and their desire to invest in Iraq in the oil or gas sectors, and that they came to put the final touches on signing a strategic framework agreement with the Ministry of Oil, as well as signing a memorandum of understanding in the field of gas, and investing in the gas platform that will be established in the Grand Faw Port, expressing their desire to finance some projects in Iraq.  link

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Tishwash:  Al-Sudani's advisor settles the controversy over the agreement with Washington to withdraw US forces - Urgent

Subhan Mulla Jiyad, political advisor to Prime Minister Mohammed Shia al-Sudani, said today, Monday (September 9, 2024), the controversy over the Baghdad-Washington agreement to expel American forces.

In an interview with Baghdad Today, Mulla Jiyad said, "Defense Minister Thabet Al-Abbasi's statement yesterday was clear and explicit about the results of what the joint military committees reached after a series of meetings that led to Washington's understanding of the Iraqi position and agreement on a timetable for the withdrawal of forces, which is supposed to end in 2026."

He added, "The agreement was made, but it did not turn into a joint statement to be signed in a final manner by the political leaderships, noting that the Supreme Military Committee concerned with this file submitted its decisions and the results of the meetings to the political parties of both countries, referring to Iraq and America, and is awaiting its signature."

Baghdad and Washington have reached an agreement on the withdrawal of international coalition forces from Iraq, according to a plan to be implemented in stages over the next two years.

Sources told Reuters that the plan includes the withdrawal of hundreds of US-led coalition forces by September 2025 and the rest by the end of 2026.

The plan has been largely agreed upon and is awaiting final approval from both countries and a date for its announcement. A senior US official said, "We have reached an agreement, and right now it's just a matter of when it will be announced."

The two countries are also seeking to establish a new advisory relationship that could allow some US forces to remain in Iraq after the withdrawal.

The sources said that the official announcement was initially scheduled to be issued weeks ago, but was postponed due to the regional escalation linked to the Israeli war on the Gaza Strip, and to settle some remaining details.

Reuters was told by these sources that the announcement of the agreement could happen this month. Farhad Alaa al-Din, the Iraqi prime minister’s foreign relations adviser, said that technical talks with Washington on the withdrawal have ended.

"We are about to take the relationship between Iraq and the members of the international coalition to a new level that focuses on bilateral relations in the military, security, economic and cultural fields," he added.

A State Department spokesman and a defense official said that US President Joe Biden and Iraqi Prime Minister Mohammed Shia al-Sudani confirmed in a joint statement in April that they would review several factors to determine when and how the coalition mission in Iraq would end and transition to permanent bilateral security partnerships.

Al-Sudani said earlier that US forces - despite his appreciation for the assistance they provide - have become a magnet for instability, as they are frequently targeted and usually respond with attacks without coordination with the Iraqi government.

The agreement, when announced, is likely to represent a political victory for the Iraqi prime minister, who is seeking to balance Baghdad's position as an ally of both Washington and Tehran, which are on opposite sides of the Middle East.

The United States has about 2,500 troops in Iraq and 900 in neighboring Syria, as part of a coalition formed in 2014 to fight ISIS after it overran vast areas of both countries  link

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Tishwash:  2024 Budget: A Sloping Path to Rolling Hopes

The draft general budget law is “the legislative authority’s approval of the general budget, i.e. its approval of the government’s expectations for public expenditures and revenues for the coming year and its approval thereof in a manner that authorizes the government to disburse appropriations within the specified limits in terms of quantity, purpose, and time period, in accordance with the financial procedures and accounting principles established in this regard.”

In 2023, the Iraqi government approved a three-year federal general budget called the (2023, 2024 and 2025) budget. It received very large objections, and we had pointed out the problems that hindered its implementation. 

 At the time, but the insistence is great, citing one reason, which is not to delay the approval of the budget for the coming years, meaning the years 2024 and 2025.

Among the reasons that may lead to a delay in approving the general budget:

1- Iraq's total dependence on oil revenues because oil revenues are unstable and difficult to predict.

2 - Delay in the government’s procedures for preparing the draft general budget law and the large number of discussions, objections and proposals.

3- Political differences between the forces that form governments.

4 - Marathon negotiations between the federal government and the region to determine the quotas and volume of exported oil.

Did the three-year budget achieve its objectives?

Here, what is the appropriate action to take if the approval of the general budget is delayed and the delay continues for several months without it being approved? To answer this question, we say: The Iraqi legislator addressed this matter in accordance with Paragraph (3) of Article (13) of the Federal Financial Administration Law No. (4) of 2020, as amended, as it stated that in the event that the draft federal general budget law for a specific fiscal year is not approved, the final financial statements actually disbursed are considered the basis for the financial statements for the year in which the budget was not approved and are submitted to the Council of Representatives for the purpose of ratification. That is, the government spends on

The basis of the previous year’s budget and within the limits of the amounts and spending rates that occurred in the past, i.e. the old budget is used until the new budget is approved.

This means that spending on operational matters is continuing at the same level as last year, but the problem is realizing in new investment projects that were not previously included in the three-year budget (2023-2024-2025), as these projects require new approval from Parliament and because they are financed from the investment budget, the wheel of development has therefore been delayed for another year as well. 

Knowing that the impact of the delay in approving the budget is not very harmful to the implementation of the budget, especially since the operating budget has been approved and its basic paragraph related to salaries, wages, social protection and retirees, in addition to governing expenses such as the ration card, purchasing wheat and medicines, as well as interest and installments of the public debt, are all valid and payable, even if the schedules have not been approved, as happened in the years 2020 and 2022.”

The Iraqi parliament voted on the 2023 budget in June and it was published, but it did not enter into force due to a lawsuit against it in the Federal Court. As for the 2024 budget tables, they were also in June, i.e. after a full year had passed, but they were not published in the Iraqi Gazette due to differences in them. 

According to Prime Minister Mohammed Shia al-Sudani, the 2024 budget is 211 trillion dinars, and employee salaries for the year 2024 are 62 trillion dinars, while the 2023 budget was 199 trillion dinars and employee salaries were 59 trillion dinars.

The deficit in the two budgets is approximately 64 trillion for the two years. The revenues of the 2024 budget are estimated at 144 trillion and 336 billion dinars, while the expenditures amount to 210 trillion and 936 billion dinars, while the deficit is 63 trillion and 599 billion dinars.

The existence of a deficit of more than 60 trillion dinars is a cause for concern. This deficit will depend on the increase in oil prices to be compensated for in one way or another, or it will be compensated for by the state taking measures to contain it, or the state will default on its commitment.

Conclusion: The government failed to overcome the approval of the federal general budgets on time by approving the three-year general budget (2023, 2024 and 2025). Rather, the crises that accompanied this budget (2023) are almost worse than others, which is the existence of a difference in the tables between the one sent by the General Secretariat of the Council of Ministers and the one that came approved by the House of Representatives.

The solution is not to re-legislate the three-year budget because it did not achieve its goals, and to re-sign the tables that were sent by the Prime Minister’s Office.  link

Mot:  . Trying to Be Nice I Is!!!  

Mot: . Just Love the Internet!! -- Never Stop Learning Stuff!!! 

News, Rumors and Opinions Monday AM 9-9-2024

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 fro the Restored Republic via a GCR: Update as of Mon. 9 Sept. 2024

Compiled Mon. 9 Sept. 2024 12:01 am EST by Judy Byington

Global Currency Reset:  (Opinions/Rumors)

Sun. 8 Sept. 2024 Wolverine:   Looks like things are ready to kick off. I am getting news that Iraq is ready to put the Dinar on Forex. If that happens, the RV will start. I have been told they will kick off after midnight today Sun. 8 Sept. And, when this happens, it will be real, and it will be emotional for all of us.

Wolverine cont…….The first things to go are the German Bonds and the Yellow Dragon Bonds this week! It will take a few days for them to come, and then the rest of the bonds will come in the next few days.

Orders have now come for ALL THE BANKS IN THE WORLD to activate the QFS in all bank accounts. Get ready for that!

There will be some funds in that QFS from Nesara Gesara so check your bank for those funds!  I think it is all coming at one time.

The Precatorias has a geopolitical problem in Brazil with the ruler  – IMO I think it I all BS –  just a delay tactic. IMO they are just waiting to get started with the rest of us as a shotgun release. The Precatorias is a F&P and are not an actual part of the redemption process. It is considered a blessing so they technically in the RV.   

Not much more to say. Orders have been given. We will see tomorrow, your Monday 9 Sept. So, you may receive your Notifications maybe after midnight.

It has been a huge hard challenge for me, a very difficult rollercoaster ride. No sleep – as I have been trying to get a lot of info for you. I wish Peace to all of you and blessings.  Let’s hope that tomorrow will happen with a rainbow next to my window!

In Summary: They have given orders for the QFS to be activated IN EVERY BANK IN THE WORLD!!  We are waiting for IQD to go live on Forex. Notifications should come after midnight so keep an eye on your emails. The Precatorias – IMO is waiting to be released with all the others as a shotgun release. Have a beautiful day. Take care, Wolverine. (Transcribed by Carpathia)

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Sat. 7 Sept. 2024: BOOOM!!! Golden Redemption: The Birth of USN US Note Backed by QFS Gold-Backed Digital Currency (VIDEO) – amg-news.com – American Media Group

Sun. 8 Sept. 2024 huge fire in Reno Nevada. People are being evacuated and it’s in the city where the airport is. Started just below Mt. Rose down the foothills into the city. Sparks is 10 minutes out of Reno East, on sovereign territory Pyramid Lake. Out where the Treasury is located.  Chaos for people trying to fly in and out of Reno! No coincidence.

Global Financial Crisis:

Sat. 7 Sept. 2024: US Debt Clock: WHY WON’T THEY TELL YOU THE TRUTH? VIDEO – amg-news.com – American Media Group

Fractional Reserve Banking is like lending your buddy $100, and he says, ‘Chill, I’ve only got $10, but I’ll loan out the rest to five other people who definitely don’t have it either—don’t worry, it’ll all work out!’ Meanwhile, the Federal Reserve is in the background printing money faster than a kid with a broken copy machine, saying, ‘If this blows up, no big deal—we’ll just give everyone more monopoly money!’ And what does this mean for you? Well, while they’re playing hot potato with fake cash, you’re stuck wondering why your $5 coffee now costs $10 and your paycheck stretches like a rubber band—only to snap at the end of the month!

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Sun. 8 Sept. 2024 MILITARY INTEL: Quantum Financial Systems, Project Odin, and the Emergency Broadcast Revolution

The World is standing on the edge of a monumental shift. The rise of the Quantum Financial System (QFS) and the covert Project Odin are not just technical upgrades; they are the keys to dismantling the Deepstate’s control and freeing humanity.

QFS is not just a new financial system—it is a weapon of transparency. Through the power of quantum mechanics, it offers an incorruptible platform where every transaction is tracked and protected. The days of backdoor deals and hidden transactions are over. The elites can no longer hide behind their money. The old banking system, built on manipulation and secrecy, is being obliterated as we speak.

Sun. 8 Sept. 2024 Petro Dollar Down as World Reserve Currency: NESARA/GESARA

Without the release of Tesla tech and other means, zero oil=zero economy. The leveraged deal was this: Kissinger essentially said “Hey, we have this worthless paper not backed by anything so we’ll offer you guys our military protection (most advanced at the time) in exchange for you making every nation pay for your oil in US dollars.”

Thus, the petro-dollar was born and becomes the “World Reserve Currency.” But now, Saudi is gearing towards backing their oil instead with a gold-backed currency, the Chinese Yuan.

China and Russia made a deal a while back, Russia’s oil for the Chinese Yuan.

The two biggest suppliers of oil (Saudi and Russia) are both looking gold backed, meaning if any nation wants an economy they’ll need to use a gold-backed currency to get it oil to run their economy, at least until zero-point/clean energy tech is fully disclosed. Therefore, a global gold-standard is imminent and no matter where you go, gold is gold is gold implying a full currency reset back to a 1:1 exchange rate globally. Meaning those Zimbabwe notes that have been hyperinflated (say the trillion dollar Zim note that barely covers their monthly food bill) will be worth, a lot….. An unfathomable amount, along with the Iraqi dinar, Russian ruble and other currencies. The meek shall inherent the earth at that point.

There are humanitarian trusts that have been hoarded for longer than we’d ever guess with Birth Bonds backing them (Strawman Bonds): Lucis Trust, Saint Germain Trust and Cestui Que Vie Trust all compiled, pending to be redistributed back to the World’s population after the global currency reset takes place.

Right out of the gate I saw the Zimbabwe movement after CERN flipped back on. That’s what inspired me to post this and synthesis all of these points. Took it as a sign. Even if you haven’t invested in one of the “hot currencies” all will be covered and cleared. The trusts belong to the people; citizens have just been siphoned off of and have largely forgotten their true worth, which is far beyond a price tag.

Read full post here:  https://dinarchronicles.com/2024/09/09/restored-republic-via-a-gcr-update-as-of-september-9-2024/

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

Walkingstick   I strongly believe we need Alaq to finish what he's doing [In New York and Washington], come back...to Baghdad and bring the REER - Real Effective Exchange Rate to Iraq.  We believe this is the next step because of what Sudani told the Iraqi citizens.  IMO the commercials are the next thing that they're going to show them.  IMO the commercials are already produced...They will be released to the public. When Sudani said the monetary reform is coming to an end...that's a big hint...That's what we in intel call a big clue. 

9-8-2024   Newshound Guru Militia Man  It takes time to get things done.  Now we're watching all of these things come together at the end.  I think Iraq has made significant adjustments to what they've been doing.  I think their non-oil revenue streams is going to bring value to their country...Iraq...glory days was based off of just oil...Iraq has a lot more than just oil...Liquid natural gas, that's a massive amount of income.  They used to burn it and flare it and just waste it.  Now they're going to produce it and ship it, likely to Europe...They're going to bottle that gas and sell it...They're not only going to increase their oil but they're going to increase their non-oil revenue streams.  That's where all the ability to be able to support the value of their currency...

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The Next Financial Crisis You’ve Never Heard of is Starting (here’s why)

Taylor Kenny:  9=8=2024

"The spending we've seen from our government in just the last few years has eroded our purchasing power and chipped away at our savings." You may be diversified in your savings within the system, but if the system goes down then what?

https://www.youtube.com/watch?v=zTfI6s9bknA