“Tidbits From TNT” Saturday 9-21-2024

TNT:

Tishwash:  In the past 20 days, Iraq lost enough money to build a new power station or a luxury residential complex

About 20 days have passed since the start of the decline in oil prices, which has sparked fears about the size of the loss that Iraq, which is heavily dependent on oil, will incur , and the possibility of its impact on salaries.

 While assurances were issued that salaries would not be affected by this level of the current decline in oil prices, as salaries could be provided even if the price of oil reached $60 per barrel,IraqIt actually suffered a huge loss during September for two reasons compared to previous months.

And I did Alsumaria NewsReview of short and long term average prices for the past period and calculations to see how much you lost.Iraq Over the past few days.

It turned out that the prices of Iraqi oil during the fifth months until the end of the seventh were ranging at an average of between $88 and $79 per barrel as a minimum, which means that on average the price of a barrel of Iraqi oil can be considered to be $84 per barrel as a minimum, but in August the average price of a barrel became $75 per barrel.

Since the beginning of September until now, the average price of a barrel of Iraqi oil can be calculated at $70, which means that it has lost an average of $14 per barrel compared to the average price during the past months.

Accordingly, while issuingIraq3.3 million barrels in September according to the OPEC agreement, which means thatIraqHe lost about $925 million in the last 20 days alone.

At the same time, he wasIraqIssuedmoreFrom 3.4 million barrels in August and July, but in September its exports decreased to 3.3 million barrels, which is another matter that caused a loss for Iraq, in response to compensating for the surplus production.Iraq During the past months according to the OPEC agreement.

And by calculating the export loss of 100 thousand barrels per day, the loss will be Iraq Over the past 20 days, it has amounted to $140 million, in addition to the loss of $925 million from the decline in oil prices. This means that Iraq lost in 20 days more One billion dollars.

That's enough .The number billion dollar constructionPower station with capacity moreFrom 1500 MW, or construction Luxury residential complex as one of the projects Residential in Baghdad With a capacity of more than 60 thousand housing units with large tourist facilities.  link

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Tishwash:  Government advisor expects oil prices to rise to $90 by the end of the year

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, expects oil prices to rise for the rest of this year 2024.

 Saleh told Al Furat News Agency that "the decisions to reduce OPEC+ countries' production quotas by 2.2 million barrels of crude oil per day are among the main factors in the current positive impact that has gradually led to an improvement in oil prices in the world after the wave of decline witnessed in the past weeks, which coincided with the wave of severe decline faced by global financial markets, in addition to the widespread concerns about global economic growth in general and the Chinese economy in particular."

He added, "Despite this, OPEC and OPEC+ in particular are still cautious in managing supply, as previous expectations of increased oil production on the one hand and the varying expectations regarding the growth of global demand for oil on the other hand have kept prices somewhat volatile."

“Currently, oil prices, especially Brent oil, are fluctuating today at around $74-75 per barrel for futures contracts, taking into account the importance of seasonal and market effects that have begun to maintain significant increases, although they are currently moderate, as the approach of winter can usually lead to a slight increase in global oil prices. This is due to the increase in demand for heating fuels such as natural gas and other heating fuels, especially in colder regions such as Europe and North America,” Saleh continued.

“As temperatures drop, households and industries demand more energy to keep warm, increasing consumption of oil-based products. Thus, as the Russian-Ukrainian war continues and winter sets in, energy markets are rightly expecting a rise in demand for energy (oil and gas in particular) and the possibility of upward price adjustments in the contractual months leading up to winter,” he noted.

“Starting from September 2024, as we mentioned earlier, the total production cuts implemented by OPEC+ countries will amount to about 2.2 million barrels per day. These cuts are part of a broader effort to stabilize global oil prices amid fluctuations in demand and market conditions, with Saudi Arabia contributing a significant cut of 1 million barrels per day, while other countries, notably Iraq, the United Arab Emirates, Kuwait, Algeria, Kazakhstan and Oman, also implemented cuts ranging from 42,000 to 223,000 barrels per day, while Russia reduced its oil exports by 500,000 barrels per day, of crude oil and refined products,” the government advisor said.

“Based on the above, oil prices are expected to remain high for the rest of 2024, with many global oil forecasts indicating that the average price of Brent crude could range around $85 to $90 per barrel by the end of this year. Higher price levels will reflect the impact of supply cuts, which will help tighten global oil markets and eliminate any oil glut, even as demand remains somewhat weak due to the economic slowdown in some aspects of global growth, especially growth problems in the Chinese economy,” Saleh said.  link

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Tishwash:  Al-Sudani heads to New York to participate in UN General Assembly meetings

 Prime Minister Mohammed Shia Al-Sudani will head to New York tomorrow, Saturday, to participate in the meetings of the 79th session of the United Nations General Assembly .

Al-Sudani's media office said in a statement received by "Baghdad Today" that the latter "will leave tomorrow, Saturday, heading to New York, at the head of the official delegation participating in the meetings of the United Nations General Assembly in its seventy-ninth session ."

He added, "He will deliver Iraq's speech before the General Assembly, and he will also deliver a speech at the Future Summit, in which many heads of state and presidents will participate, and which is concerned with enhancing cooperation, facing challenges, and affirming commitments ."

He added, "Al-Sudani will hold a series of meetings and dialogues with a number of leaders and presidents of sisterly and friendly countries, and heads of participating delegations, in addition to meeting with the Secretary-General of the United Nations, and a number of officials of international and UN organizations and bodies link

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Tishwash: Series of explosions on the approaches to Ain al-Assad base, west of Anbar

Security sources revealed, today, Friday (September 20, 2024), that a series of explosions were heard on the approaches to Ain al-Assad base, west of Anbar.

A security source told Baghdad Today, "More than one explosion was heard on the approaches to Ain al-Assad base, west of Anbar, with American helicopters currently flying over the base."

He added, "The helicopters flew as part of the reconnaissance and security measures, and a state of alert was monitored on the towers surrounding the base, and security measures were strengthened."

In addition, another security source revealed to Baghdad Today that "the sounds of explosions heard near Ain al-Assad Air Base are due to training conducted by coalition forces at the base," noting that "the Ceram system was also used in these training."  link

Mot ... can ya sing um 

Mot:  Hurry!!! -- Hurry!! -- Summers Almost over... ooh Wheres Waldo???

News, Rumors and Opinions Saturday AM 9-21-2024

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. 21 Sept. 2024

Compiled Sat. 21 Sept. 2024 12:01 am EST by Judy Byington

Judy Note: The Greatest Sting Operation in History was triggering the Greatest Wealth Transfer in History. In connection with that Wealth Transfer, lots of things were happening ten days from now on Tues. 1 Oct. 2024.

Tues. 1 Oct. 2024 was the end of the privately owned Corporation’s fiscal year, which was deeply in debt, had taken out Bankruptcy in 2008, had been functioning for years without an approved budget and on a fiat US Dollar.

Tues. 1 Oct. 2024 With the House unable to pass extension of the US Government Budget Deadline, a privately owned and broke U****c. Corporation, including their Federal Reserve and IRS, was set to shut down by Tues. 1 Oct. 2024. (The fiat US Dollar wasn’t working for them, or for any other trading nation, anymore. They had no monies to function on).

On Tues. 1 Oct. 2024 all US Banks will close which were not Basel III Compliant. That is, if they didn’t have enough gold to back their monies for loans. And, they don’t. They have been functioning on fiat US Dollars since before U****c.’s Bankruptcy in 2008.

Tues. 1 Oct. 2024 was also the beginning of the new American Republic’s fiscal year, which will be functioning on gold/asset-backed US Notes as part of the Global Currency Reset.

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

Global Currency Reset:

Thurs. 19 Sept. 2024 Bruce: “We will be finishing up everything by the end of Sept. NESARA to come out, R&R payments, SS increases in your bank account, and exchanges started by the last day of Sept. Bond Holders should have access to funds Friday. Tier4b (us, the Internet Group) will be notified at the same time as Tier 3.”

Thurs. 19 Sept. 2024 Wolverine: “Invitations to the P Group have gone out. They are starting this weekend. It is happening. …September is called the Golden Month by Bond Holders because they have been told everything is happening in September. Bond Holders are presently in Reno and other parts of the World awaiting release of liquidity for the Global Currency Reset. We are defiantly close. Redemption Center staff  have been trained. The QFS is fully integrated.”

134 countries are exploring digital currencies, putting the US Dollar in jeopardy: 

 https://x.com/BRICSinfo/status/1837201665335718397?t=tBTejSMYFi6UJm2RvUQN4Q&s=19

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Global Financial Crisis:

Sun. 15 Sept 2024: Massive Data Breeches of Iran Central Bank & US Social Security

Fri. 20 Sept. 2024: Breaking Financial News! U.S. Banks Shut Down 55 Branches in Just Two Weeks: Wells Fargo, Chase, Bank of America, and Fulton – amg-news.com – American Media Group

Read full post here:  https://dinarchronicles.com/2024/09/21/restored-republic-via-a-gcr-update-as-of-september-21-2024/

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

Militia Man  What we're seeing and witnessing is something we've never seen before and not at this level...Something's a foot and I think it's a powerful time frame for us to see something different with Iraq.

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:
Sadr...has been talking to us and telling us we were all going to go out and protest because we haven't received all the things that have been promised to us but this morning Sadr came on television and said the million man march has been cancelled, no longer useful he says.  FRANK:  Why are we not going to do it?  Because they're going to give us what they promised us?  ...IMO he's calling off the march because Sudani asked him not to do the march. 

The Stock Market Is SET TO HYPER-INFLATE. And THIS WILL END VERY BADLY.

Greg  Mannarino:  9-20-2024

https://www.youtube.com/watch?v=8oq_RyJE4ac

The West In PANIC As IRAN Will Attend BRICS Summit In Russia To Finalize This Deal!

The Global Narrative:  9-20-2024

https://www.youtube.com/watch?v=_lGEZkv268Q

Seeds of Wisdom RV and Economic Updates Saturday Morning 9-21-24

Good morning Dinar Recaps,

BREAKING NEWS: BILLION-DOLLAR BANK BNY SET TO CUSTODY BITCOIN (BTC) AS THE FIRST BANK IN U.S. HISTORY

▪️BNY Mellon becomes the first bank with the SEC exemption from crypto accounting rules.

▪️SEC’s variance for BNY Mellon could open doors for more banks in crypto.

BNY Mellon has emerged as a pioneer in the cryptocurrency custody industry, becoming the first bank to be excluded from the SEC’s Staff Accounting Bulletin No. 121 (SAB 121). This significant development was announced during a public hearing in Wyoming’s Select Committee on Blockchain, Financial Technology, and Digital Innovation Technology.

SEC’s Landmark Exception: BNY Mellon Navigates SAB 121 with Ease
The SEC granted BNY Mellon a “variance” from the SAB 121 accounting requirements. This exception allows BNY Mellon to provide institutional crypto custody services, including Bitcoin, as part of its core business activities. Chris Land, general counsel for U.S. Senator Cynthia Lummis (R-WY), testified:

“[BNY] is looking to get more involved in the crypto custody business. They had some problems with Staff Accounting Bulletin (SAB) 121, and the SEC has apparently given them some kind of variance from SAB 121 to move forward.”

This decision marks a watershed moment for the bank and the whole crypto industry, indicating a shift in regulatory views toward traditional financial institutions that engage in digital asset custody.

SAB 121, which has been the subject of discussion in the financial sector, requires banks that hold cryptocurrencies on behalf of clients to register these assets as liabilities on their balance sheets.

Many in the crypto sector regard this rule as cumbersome, as it adds significant financial risk to any institution that engages in crypto custody.

SEC’s Exemption Sparks New Opportunities for Traditional Banks in Crypto
BNY Mellon’s exemption from this legislation might be a game changer, opening the door for other traditional banks to enter the cryptocurrency industry.

This exemption not only represents a watershed moment for BNY Mellon, but it could also dramatically increase institutional participation in the crypto business, lowering entrance barriers for banks that have been cautious owing to regulatory concerns.

The decision may serve as a stimulus for greater acceptance of crypto services by large financial institutions, indicating a mature market in which digital assets are increasingly regarded as viable investment possibilities.

This is not BNY Mellon’s first foray into the crypto and blockchain industry. Last year, in a Swift-led project revealed by CNF, BNY Mellon and Deutsche Bank worked together on the interoperability of electronic Bills of Lading (eBL) on blockchain.

This program sought to improve commercial efficiency by incorporating blockchain technology into traditional financial systems.

Such agreements demonstrate BNY Mellon’s continuous commitment to using blockchain technology to improve financial processes, cementing the company’s position as a pioneer in integrating crypto and blockchain solutions into traditional banking.

While BNY Mellon is making progress in crypto custody, other industry titans are also strengthening their standing in the crypto area. For example, as we previously highlighted, MicroStrategy’s Bitcoin holdings currently total 252,220 BTC after a new 7,420 BTC purchase, confirming its position as a leader in institutional BTC investment.

@ Newshounds News™

Source:  Crypto News Flash

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BRICS NEWS:  After Oil, BRICS Accounts for 72% of the World’s Rare-Earth Metals

After the BRICS expansion in 2024, the alliance officially accounts for 42% of the global oil and gas reserves. If that wasn’t enough, BRICS now accounts for the majority of the rare-earth metals reserve totaling to 72%. This gives the alliance an added advantage in global trade in the oil and rare-earth metals sectors.

BRICS countries complement each other for the extraction of critical minerals and production. The cooperation could lead to mutual trade within BRICS members and ensure the continuity of the supply. The alliance can also decide on the stability of the prices and be ahead in decision-making.

Latest reports indicate that the alliance will discuss oil and rare-earth metals trade in the next BRICS summit. The geological trade deals could be rewritten giving the bloc an undue advantage in settling cross-border transactions. “Prospects for cooperation between the BRICS countries in the field of studying, developing and rational use of mineral resources,” is on the cards, read a report.

“One of the possible areas of cooperation in this sphere is to expand the mutual trade in mineral commodities and metals for the purpose of ensuring continuity of supplies and stability of prices,” said Evgeny Petrov, the Head of the Russian Federal Subsoil Resources Management Agency Rosnedra.

 He added, “The simple analysis shows that accession of new members to BRICS will provide for 72% of world resources of rare-earth metals.”

Also, if BRICS uses local currencies for rare minerals trade, the US will dollar will begin to face deficits.  The BRICS bloc is adding all commodities under its sleeves and could turn the alliance’s fortunes in the coming years.

@ Newshounds News™

Source:  Watcher Guru

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THIS IS A CALL NOT A VIDEO - Silver Jim 57 The Constitution 9 20 24 |  Youtube

Jim educates us on our history and the CONtracts that have been hidden from us to show how we got to where we are since the days of Lincoln and the Civil War.  A must to listen to.

@ Newshounds News™

Source: Seeds of Wisdom Team Currency Facts     

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RAFIDAIN BANK IS LEADING THE CHARGE INTO THE FUTURE! #Iraq #Banking |  Youtube 

@ Newshounds News™

Source: Seeds of Wisdom Team Currency Facts  

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Newshound's Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

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Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

Seeds of Wisdom RV and Economic Updates Friday Afternoon 9-20-24

Good Afternoon Dinar Recaps,

BRICS POWER SURGE SPARKS ECONOMIC WARNING FROM JPMORGAN CEO—CRYPTO SEEN AS A HEDGE

▪️Jamie Dimon warned about the rising government deficits, elevated public spending, and geopolitical challenges like the growing influence of the BRICS bloc.

▪️The JPMorgan CEO expressed concerns over the U.S. economy, highlighting the risks of stagflation—persistent high inflation alongside stagnant growth.

JPMorgan Chase & Co. CEO Jamie Dimon recently raised alarms about a potential economic crisis in the United States. 

He emphasizes the impact of rising inflation and geopolitical challenges as the BRICS bloc gains power. Speaking at the Council of Institutional Investors in New York this week, Dimon expressed concerns over the country’s economic outlook.

Dimon also hinted that the challenges could go far beyond a typical recession. On Wednesday, September 18, the Federal Reserve made its first interest rate cut in four years as inflation is inching closer to the Fed’s 2% target. Despite this reduction, Dimon cautioned that the economy remains on shaky ground.

Fed Rate Cuts Won’t Solve The Inherent Problems In US Economy
The decision to lower rates comes after interest rates had previously surged to a 23-year high, a measure taken by the central bank to curb inflation. However, many experts, including Dimon, worry that the country’s economy might not yet be in the clear.

One of Dimon’s primary concerns is the possibility of stagflation, wherein there is stagnant economic growth alongside high inflation. During the event in Brooklyn, Dimon said, “I would say the worst outcome is stagflation—recession, higher inflation. And by the way, I wouldn’t take it off the table.”

His remarks underscore the unease surrounding the U.S. economy, with inflation still out of control despite recent monetary policy changes. Dimon further highlighted that inflationary pressures could persist due to several key factors. On the other hand, the BRICS bloc poses different challenges while moving away from the USD.

These include rising government deficits and increased public spending, which could keep inflation elevated. Moreover, the high interest rates that persisted for years make it difficult to predict a swift recovery for the economy.

“They’re all inflationary, basically in the short run, the next couple of years,” Dimon said. He further added, “It’s hard to look at [it]and say, ‘Well, no, we’re out of the woods.’ I don’t think so.”

Recently, the world’s largest asset manager BlackRock stated that the spot Bitcoin ETF could be a good diversification tool amid the rising US debt, per the CNF report.

The BRICS Factor In-Play
Dimon’s warnings come at a time when the United States is facing growing competition on the global stage. The BRICS (Brazil, Russia, India, China, and South Africa) bloc has been pushing efforts to reduce reliance on the U.S. dollar, commonly referred to as “de-dollarization,” as reported by Crypto News Flash.

This shift could weaken the dollar’s dominance in global markets.  Moreover, it could further strain the U.S. economy as the debt has risen to a whopping $35.27 trillion. In addition, the rise of blockchain-based financial solutions could pose an additional threat to the USD’s long-standing supremacy.

@ Newshounds News™

Source:  Crypto News Flash

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TURKISH BANKS WANT TO STOP TRANSACTIONS WITH RUSSIA, TRANSFER THEM TO ONE BANK — SOURCE

The issue reportedly concerns private and state-owned Turkish banks that do not have foreign partners, mainly Western ones

ANKARA, September 19. /TASS/. Almost all Turkish banks are virtually trying to stop servicing transactions related to Russia and transfer them to only one local financial institution, an informed source in the field of Turkish financial consulting told TASS.

"Based on the current situation, almost all Turkish banks virtually want to completely withdraw from transactions with Russia and Belarus. They would like to leave all these transactions to Emlak Katilim Bank in order to protect themselves from possible future problems in the form of restrictions and sanctions," the source said.

The issue concerns private and state-owned Turkish banks that do not have foreign partners, mainly Western ones. Financial institutions with Western participation have already effectively stopped servicing transactions related to Russia.

The source noted that "only Emlak Katilim Bank carries out trading transactions in the Russian ruble/Turkish lira pair".

Earlier, Russian Ambassador to Turkey Alexey Erkhov, commenting on the situation in the interbank sphere, told TASS that Turkish banks are increasingly "squeezing out companies" involved in the transit of goods to Russia, blocking their transfers and closing their accounts.

@ Newshounds News™

Source:  TASS

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GOVERNMENT BITCOIN RANKINGS: SURPRISING PLAYERS EMERGE IN 2024

▪️The US leads global Bitcoin holdings with $12.16B, primarily from law enforcement seizures.
▪️Bhutan leverages BTC mining for income, holding $782.46M in cryptocurrency reserves.

Arkham Intelligence has published its newest government Bitcoin holdings leaderboard, which provides an intriguing view of global cryptocurrency strategy among nation-states. The United States leads the pack, with a stunning $12.16 billion in BTC.

This vast hoard, totaling around 203,239 BTC, is mostly the result of law enforcement seizures, most notably the Silk Road case. The US government’s approach to managing these assets is not static; regular transactions suggest active management with the goal of leveraging the portfolio.

This position, along with other digital assets such as Ethereum, demonstrates a diverse approach to optimizing returns from their cryptocurrency portfolio.

Also, the United Kingdom is second, with $3.67 billion worth of Bitcoin, or around 61,245 BTC. Unlike the United States, the UK government has taken a more passive approach to management. There have been no large cryptocurrency transactions in the recent few years, with the last substantial shift coming three years back.

This shows that the UK is more interested in holding its Bitcoin as a long-term investment than trading or diversifying into other digital assets.

Bhutan and El Salvador: Contrasting BTC Strategies with Global Impact
Bhutan’s ranking on the leaderboard is surprising and impressive. As we previously reported, with $782.46 million in Bitcoin, or 13,047 BTC, the little Himalayan country is the third-largest government BTC holder. Bhutan’s plan is unique in that it is actively involved in Bitcoin mining operations.

The cash earned by mining pools such as “Foundry USA Pool” and “Ant Pool” benefits the country’s economy, making cryptocurrencies an important component of Bhutan’s financial ecosystem.

Bhutan also holds smaller amounts of Ethereum, valued at roughly $1.51 million, as well as other altcoins, demonstrating a more diverse portfolio than El Salvador, which focuses only on Bitcoin.

Further, El Salvador, which is well-known for using Bitcoin as legal tender, is ranked fourth on the ranking. Its government has $351.75 million in Bitcoin, which equates to 5,877 BTC. Unlike other countries, El Salvador’s plan relies entirely around Bitcoin, which is consistent with the country’s overall economic policies.

The Salvadoran government carefully controls its Bitcoin holdings and conducts daily trades. Over the last year, its portfolio has fluctuated, but it has recently steadied at around $350 million. Despite the inherent dangers and volatility associated with Bitcoin, El Salvador remains completely committed to the cryptocurrency experiment.

One of the most notable adjustments in the rankings is Germany’s decline from possessing $3.56 billion in BTC to having none. This significant reduction in ownership indicates a total exodus from Bitcoin; however, the reasons for this shift remain unknown.

@ Newshounds News™

Source:  Crypto News Flash

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KOREA  PREPS TOKENIZED DEPOSIT, WCBDC PILOT WITH 100,000 USERS THIS YEAR

Today the Korea Times reported that 100,000 individuals will participate in large scale pilots of tokenized deposits later this year, citing sources.

However, it said the deposit tokens will be “akin to using vouchers”, consistent with previously announced plans. A year ago the Bank of Korea announced plans for a wholesale central bank digital currency (wCBDC) to support the interbank settlement of tokenized deposits from banks.

It subsequently said there would be trials involving up to 100,000 people starting in September or October this year.

In June, two government institutions announced funding for a voucher project being developed by the central bank where the deposit tokens can be used for welfare, culture, education and other services.

However, today’s report states the vouchers in the pilot will be used to buy goods at convenience stores.

Last year the Bank of Korea said the voucher trials, which sound similar to Singapores’s Purpose Bound Money concept, would have two parts. All banks will participate in one trial. Another test will allow banks more leeway in the programmability. 

The central bank said the Korea Financial Telecommunications and Clearings Institute will be the smart contract management agency.

So far six major commercial banks are involved, but there’s no final decision on which institutions will take part. NH NongHyup Bank was mentioned as one of the participants.

“While the timeline seems slightly delayed compared to our initial expectations, we are working to launch the CBDC test involving 100,000 participants using deposit tokens by the end of the year, which would be a globally significant milestone,” a banking industry official told Korea Times.

Korea’s cross border CBDC work
Meanwhile, the Bank of Korea is also involved in Project Agorá, the BIS cross border payment initiative to tokenize correspondent banking that involves seven central banks and 41 institutions.

 That initiative also involves six Korean banks, Hana Bank, Industrial Bank of Korea, KB Kookmin Bank, NongHyup Bank, Shinhan Bank and Woori Bank. Additionally, Korea is an observer of mBridge, the other BIS cross border payment initiative.

@ Newshounds News™

Source:   Ledger Insights

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What is Money Explained Simply!  Youtube

@ Newshounds News™

Source: Seeds of Wisdom Team Currency Facts    

~~~~~~~~~

Newshound's Currency Facts Youtube and Rumble

Newshound's Podcast Link

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Follow the Timeline 

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Subscribe to Newsletter

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More News, Rumors and Opinions Friday Afternoon 9-20-2024

Gold Telegraph: Gold is the Global Currency and Always will be

Thursday, 19 September 2024, 21:10 PM

Gold Telegraph @GoldTelegraph

Jerome Powell just said that the Federal Reserve is not declaring victory on inflation.

He just cut rates 50 basis points.

BRICS countries are beginning to prepare restrictions on the export of key commodities.

Hold on tight…

Hard assets are having a big day.

Silver is back above $31.

Janet Yellen says the 50 basis point rate cut yesterday is a very positive sign for the American economy.

Move over @billburr, here comes Janet for the comedy circuit.

Go gold.

Gold is the global currency.

It always will be.

Keep this in mind as the world continues to divide and debt spirals further out of control.

Copper hits a 2-month high.

The glue of the entire economy.

You are not watching gold surge.

You are watching the dollar get debased.

The dollar has lost over 30% of its purchasing power against gold in the past year.

This point is captured here:

Gold Telegraph

Things the media doesn't show you. You can't fight time.

Japan CPI inflation hits a 10-month high.

The pressure is on…

Source(s):
https://x.com/GoldTelegraph_/status/1836484698572292425
https://x.com/GoldTelegraph_/status/1836748559477080351
https://x.com/GoldTelegraph_/status/1836808766442156154
https://x.com/GoldTelegraph_/status/1836831115744567760
https://x.com/GoldTelegraph_/status/1836832497650237747
https://x.com/GoldTelegraph_/status/1836916168466256388
https://x.com/GoldTelegraph_/status/1836916634084159770
https://x.com/GoldTelegraph_/status/1836926697205006631

https://dinarchronicles.com/2024/09/19/gold-telegraph-gold-is-the-global-currency-and-always-will-be/

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

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:They're going to the streets with Sadr on the 25th.  We will hit the streets in millions.  We do this weekly until we are paid, starting on the 25th.  Sadr has organized this and we will back him for our constitutional rights.  FRANK:  Sadr is a good leader.  He will not do anything violent.  Make sure you don't protest because you will retard the whole monetary process for you.  FIREFLY:  We know there's got to be a new rate coming and we going to help speed this up... [NOTE:  Stay tuned for FIREFLY protest update later today.]

Mnt Goat  ...Most already tell us Iraq is filthy rich and they are...Right now the Kuwaiti dinar is one of the highest valued currencies in the world...If  you proportionately look at Iraq and compare its ability to generate wealth it can far out produce Kuwait. Why then is the KWD at $3+ and the IQD at about $.006?

They Have Created A BUBBLE THEY CANNOT FIX (CREDITORS Are NOW Going After Each Other)

Lynette Zang:  9-19-2024

Today we are talking about creditor on creditor violence, what it means, and how these creditors will protect themselves at your expense and you don't even know it...

https://www.youtube.com/watch?v=1CM6qYuTUCw

Prof Steve Hanke: This Is WHY The Economy Suddenly Got WORSE..

Financial Wisdom:  9-20-2024

In his latest interview, Prof. Steve Hanke criticizes the Federal Reserve for focusing too much on day-to-day economic data and interest rates while ignoring the contracting money supply, which he believes is leading to a recession.

He argues that the Fed's approach of "data dependency" is flawed and that they should instead use monetarist models, like the quantity theory of money, to forecast inflation and economic trends.

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

Seeds of Wisdom RV and Economic Updates Friday Morning 9-20-24

Good Morning Dinar Recaps,

AI NEWS: UN CALLS FOR GLOBAL AI GOVERNANCE AS META & OPENAI FACE CHALLENGES

AI News: UN advisory body proposes 7 recommendations for global AI governance to address risks, transparency, and unequal development.

▪️UN advisory urges global AI governance, highlighting risks of concentrated power among a few AI companies.
▪️Global AI fund proposed to aid developing nations, ensuring fair capacity and collaboration in AI deployment.
▪️OpenAI restructures safety oversight amid criticism, creating an independent body to oversee AI model safety.

AI News: The United Nations has issued seven recommendations for reducing the risks of artificial intelligence (AI) based on input from a UN advisory body. The final report of the council’s advisory body focuses on the importance of developing a unified approach to the regulation of AI and will be considered at a UN meeting scheduled for later this month.

AI News: UN Calls for Global AI Governance
The council of 39 experts noted that large multinational corporations have been able to dominate the development of AI technologies given the increasing rate of growth, which is a major concern.

The panel stressed that there is an ‘unavoidable’ need for the governance of artificial intelligence on a global scale, since the creation and use of artificial intelligence cannot be solely attributed to market mechanisms.

According to the UN report, to counter the lack of information between the AI labs and the rest of the world, it is suggested that a panel should be formed to disseminate accurate and independent information on artificial intelligence.

The recommendations include the creation of a global AI fund to address the capacity and collaboration differences especially in the developing countries that cannot afford to use AI.

The report also provides recommendations on how to establish a global artificial intelligencedata framework for the purpose of increasing transparency and accountability, and the establishment of a policy dialogue that would be aimed at addressing all the matters concerning the governance of artificial intelligence.

While the report did not propose a new International organization for the regulation, it pointed out that if risks associated with the new technology were to escalate then there may be the need for a more powerful global body with the mandate to enforce the regulation of the technology. The United Nation’s approach is different from that of some countries, including the United States, which has recently approved of ‘a blueprint for action’ to manage AI in military use – something China has not endorsed.

Calls for Regulatory Harmonization in Europe
Concurrent with the AI news, leaders, including Yann LeCun, Meta’s Chief AI Scientist and many CEOs and academics from Europe, have demanded to know how the regulation will work in Europe.

In an open letter, they stated that the EU has the potential to reap the economic benefits of AI if the rules do not hinder the freedom of research and ethical implementation of AI.

Meta’s upcoming multimodal artificial intelligence model, Llama, will not be released in the EU due to regulatory restrictions, which shows the conflict between innovation and regulation.

The open letter argues that excessively stringent rules can hinder the EU’s ability to advance in the field, and calls on the policymakers to implement the measures that will allow for the development of a robust artificial intelligence industry while addressing the risks. 

The letter emphasizes the need for coherent laws that can foster the advancement of AI while not hindering its growth like the warning on Apple iPhone OS as reported by CoinGape.

OpenAI Restructures Safety Oversight Amid Criticism
In addition, there are concerns about how OpenAI has positioned itself where the principles of safety and regulation of AI are concerned.

As a result of the criticism from the US politicians and the former employees, the CEO of the company, Sam Altman, stepped down from the company’s Safety and Security Committee.

This committee was formed in the first place to monitor the safety of the artificial intelligence technology and has now been reshaped into an independent authority that can hold back on new model releases until safety risks are addressed.

The new oversight group comprises individuals like Nicole Seligman, former US Army General Paul Nakasone, and Quora CEO Adam D’Angelo, whose role is to ensure that the safety measures put in place by OpenAI are in line with the organization’s objectives.

This United Nations AI news comes at the heels of allegations of internal strife, with former researchers claiming that OpenAI is more focused on profit-making than actual artificial intelligence governance

@ Newshounds News™

Source:  CoinGape

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CARDANO FOUNDER TO MEET ARGENTINA PRESIDENT, TALK CRYPTO ECONOMY

Cardano founder Charles Hoskinson is set to meet with Argentina president Javier Milei to discuss the role of crypto in the global economy. Milei is widely known for his belief in Bitcoin as an asset class. Subsequently, the two are set to discuss how blockchain can be used for the benefit of global infrastructure.

Both Hoskinson and Milei will meet at the Tech Forum Argentina on October 19th. Hoskinson said that the conversation will be surrounding the future of blockchain in economic and political systems throughout the world. Moreover, they will place an emphasis on what can benefit Argentina specifically.

Cardano Founder to Meet With Argentina’s Milei to Talk Blockchain Potential
In December of last year, Argentina opted to elect radical presidential candidate Javier Milei. With the country’s economy in a horrid state, citizens believed in the change that Milei could bring. His arrival came with a shift in perspective. For crypto, that has been a positive thing.

Now, the country could be looking to integrate crypto even more. Reports show that Cardano founder Charles Hoskinson is set to speak with Argentina’s president to talk about the game-changing power of blockchain technology and crypto. Specifically, how that technology can reform political and economic systems.

“We’ve had many discussions with his administration, and I’m going to meet him probably on the 19th, but at some point, if not then within that time frame,” Hoskinson told Cointelegraph. “We’ve been discussing with people that work with him and form what blockchain’s future is going to look like,” he added.

Additionally, Hoskinson noted that “it’s not a Cardano-only conversation, there’s a whole family of technologies.” This ensures that the talks will center more around blockchain, and less around Hoskinson’s singular developments.

Yet, that doesn’t change the positive sentiment Cardano has enjoyed recently. A recent poll saw ADA dominate both Ethereum and Solana, according to some traders. Specifically, those market participants prefer the technology of Cardanon as opposed to both ETH and SOL.

@ Newshounds News™

Source:  Watcher Guru

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RIPPLE’S BOLD CLAIM : THE U.S. CRYPTO MARKET IS FALLING BEHIND ASIA

Ripple’s APAC Managing Director, Fiona Murray, has expressed concerns that the United States is lagging behind regions like Singapore and the UAE in fostering a crypto-friendly environment.

During Token2049 in Singapore, Murray emphasized that while the U.S. has significant potential, it remains far behind in crypto regulation and innovation.

Much of Ripple’s growth and innovation has been driven by Singapore, a region that offers a “stable environment” with solid infrastructure, regulatory clarity, and active support from banks like DBS, Southeast Asia’s largest bank. This contrasts with the U.S., where a “lack of open-mindedness” has pushed many crypto founders to more supportive regions.

Elections Alone Won’t Fix U.S. Crypto Challenges
Murray believes that even though the U.S. is behind, there is still time to catch up, but it will require more than just favorable election outcomes.

She noted that true progress hinges on enabling U.S. banks to support Web3 and blockchain projects, something already happening in countries like Singapore.

Murray remains skeptical that the upcoming elections will provide a quick solution, emphasizing the need for regulatory and infrastructural clarity.

Despite recent high-profile events, such as former President Donald Trump purchasing a burger with Bitcoin and signs that some U.S. lawmakers are warming to crypto, Murray believes the election alone won’t solve the U.S.’s crypto challenges.

She stressed the need for a supportive banking community, adequate infrastructure, and a shift in regulatory attitudes to create a thriving environment for digital assets.

Ripple’s Resilience: Battling the SEC
Murray’s comments come against the backdrop of Ripple’s ongoing legal battle with the SEC. Ripple Labs was recently ordered to pay a $125 million fine for allegedly using its XRP cryptocurrency as an unregistered security.

Though the fine is substantial, Ripple CEO Brad Garlinghouse viewed the court’s decision as a win for both Ripple and the broader crypto industry, given that the original SEC proposal was reduced by 94%.

In conclusion, while the U.S. has significant potential to lead the crypto space, regions like APAC are currently setting the pace, and it may take more than elections to shift the tide.

@ Newshounds News™

Source: CoinPedia  

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US TREASURY SANCTIONS TWO BANKS FROM RUSSIA AND SOUTH OSSETIA

Inclusion in the sanctions list entails the freezing of assets in the US and a ban on American citizens and companies doing business with sanctioned persons and entities

WASHINGTON, September 19. /TASS/. The US Department of the Treasury has imposed sanctions against Russian citizen Dmitry Nikulin, as well Timer Bank PJSC and Stroytreyd LLC from Russia and as International Settlement Bank LLC from South Ossetia, according to a written statement by the financial department.

Inclusion in the sanctions list entails the freezing of assets in the US and a ban on American citizens and companies doing business with sanctioned persons and entities.

As Washington claims, the persons that came under restrictions "have enabled and supported ongoing efforts to establish illicit payment mechanisms between Russia and the Democratic People’s Republic of Korea (DPRK).

" They allegedly "have assisted DPRK and Russian sanctions evasion," and were involved in "the funding of the DPRK’s unlawful weapons of mass destruction (WMD) and ballistic missile programs" and support Russia’s special military operation in Ukraine.

"The growing financial cooperation between Russia and the Democratic People’s Republic of Korea (DPRK) directly threatens international security and the global financial system," Matthew Miller, spokesperson of the US Department of State said in a press statement.

Sanctions were also imposed on a number of legal entities that were already subject to American restrictions. These include the Russian Financial Corporation bank, Trans Kapital LLC, Center for International Settlements (CMRBank LLC) and the Pyongyang-based Korea Kwangson Banking Corp.

@ Newshounds News™

Source:  TASS

~~~~~~~~~

THE EXACT TIMING OF THE GLOBAL CURRENCY RESET  |  Youtube

@ Newshounds News™

Source: Seeds of Wisdom Team Currency Facts  

~~~~~~~~~

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News, Rumors and Opinions Friday AM 9-20-2024

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

RV Excerpts from the Restored Republic via a GCR: Update as of Fri. 20 Sept. 2024

Compiled Fri. 20 Sept. 2024 12:01 am EST by Judy Byington

Judy Note: The Cabal’s Great Reset had failed to gain momentum in popularity after word got out of the Global Alliance’s BRICS nation’s gold/asset-backed Global Currency Reset that gave back to The People, banker’s control of our own monies – eliminating the Deepstatee Cabal Banker privately owned Federal Reserve and IRS in the process.

On Mon. 16 Sept. the BRICS nations began transformation of the Global Financial System into Decentralized Finance (DeFi) through launch of a system called World Liberty Finance. DeFi will give The People true freedom and financial empowerment where banks across the Globe will no longer have control over people of the World’s financial affairs.

By Tues. 1 Oct. 2024 all banks must be Basel III Compliant, meaning because of the fiat US Dollar, they could no longer use US Treasury Bonds as collateral to print money and must close unless they had enough gold behind them to make loans.

The new gold/asset-backed Quantum Financial System was locked, loaded and already in the process of taking over.

The Global Currency Reset Has Been Activated.

~~~~~~~~~~

Global Currency Reset:

Thurs. 19 Sept. 2024 Bruce:

NESARA will be (allegedly) out in the next seven days.

R&R should be in your Quantum Account when you exchange, or will be direct deposited into your bank account.

You will (allegedly) be given a Q phone so you can access your Quantum Account.

To set up your Quantum Account you will need a Biometric finger or thumb print, user name and password, 5 digit pin number and the name of a new email account and password.

You have 3-5 min. to do a quick presentation on your Humanitarian Project

If you are in need for a Med Bed appointment tell them. Most Zim Holders will get a Med Bed appointment within 5-6 days of your exchange.

A source said that we get toll free numbers notification email from Wells Fargo in 24-46 hours or between 4 am to 4 pm on Friday 20 Sept. Other sources said we would get notified on Fri. 20 Sept. and start exchanges on Sat. 21 Sept. or Sun. 22 Sept.

We will be finishing up everything by the end of Sept. NESARA to come out, R&R payments, SS increases in your bank account, and exchanges started by the last day of Sept.

Restored Republic Fiscal Year started 1 Sept. 2024.

~~~~~~~~~~

Thurs. 19 Sept. 2024 Wolverine: Invitations to the P Group have gone out. They are starting this weekend. It is happening. …September is called the Golden Month by Bond Holders because they have been told everything is happening in September. Bond Holders are presently in Reno and other parts of the World awaiting release of liquidity for the Global Currency Reset. We are defiantly close.

Redemption Center staff  have been trained. The QFS is fully integrated. … Rubem Baz said, “At 15:30 Brazilian time on Tues. 17 Sept. was the last procedure between Brazil and Reno (USA). Tomorrow Wed. 18 Sept, after 11:00am invitations to go to the bank will be sent. In 48 hours (Fri. 20 Sept.) we will go liquid. This portion is 1%. Finally there is nothing left to do. Payments will now begin.” …“Things are defiantly happening behind the scenes.

We are going to be celebrating this week. There are things that I can’t say, but I wanted you to know that things are defiantly moving.” … “I agree with Mr Salvage report on German Bastidas who is one of the leaders of the Pentecostal Group. They have now finished all the contracts with the Call Centers which are located in Brazil. On Mon. 16 Sept. 2024 notifications began to be delivered. On Tues. 17 Sept. 2024 they closed the platforms and were ready to begin start the blessing. They will begin sending the transactions from the 1st to the 2nd of October to each member.”

~~~~~~~~~~

Wed. 18 Sept. 2024 TNT Update: “Banks got memos yesterday Tues. 17 Sept. telling them to get ready and be there this morning because it was scheduled between now and Fri. 20 Sept. The RV announcement should be by tomorrow Thurs. 19 Sept. There is a scheduled time but no one wanted to put it out. We are now waiting for the big announcement on the Fed rate. The Market will change with the Fed announcement. They want things to settle down and then will let the RV go. The rates are out. The Banks are ready. This should be our final call.”

Judy Note: The Federal Reserve announcement was that they cut interest rates by 50bps for the first time in 4 years.

Tues. 17 Sept. 2024 Bruce: Bond Holders are getting funds into their accounts right now and will have access to those funds Thurs. or Friday. Tier4b (us, the Internet Group) will be notified at the same time as Tier 3.

Thurs. 19 Sept. 2024: BRICS Makes Bold Move to Reshape Global Financial System: New Payment System Challenges US Dollar Dominance – amg-news.com – American Media Group

Wed. 18 Sept. 2024 Fed action today marks the beginning of the end of the fiat monetary system experiment, JustDario https://justdario.com/2024/09/fed-action-today-marks-the-beginning-of-the-end-of-the-fiat-monetary-system-experiment/

Read full post here: https://dinarchronicles.com/2024/09/20/restored-republic-via-a-gcr-update-as-of-september-20-2024/

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

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

Frank26   [Iraq boots-on-the-ground report]  FIREFLY:
Sudani comes out and he mentions that we are in the completion phase of the HCL.  We know the HCL needs a rate.  Sudani said the payments would be through the electronic cards, not cash.  We think that's because cash would give us 1310 but through the cards we think it's going to be with a new rate.  FRANK:  I do not know this for a fact but I agree with you totally that your cards they are based on a new exchange rate.  It makes no sense for them to be based on a restricted program rate...

Jeff  The operating budget is already approved and complete.  They're going to be adding additional funds to it, that's why the budget remains incomplete...they have to amend it to add the additional supplementary funds to it and increase and change the budget's expenditures.  That's all that we're waiting on.

Gold Marches Higher - It's REPLACING The Dollar | Andy Schectman

Liberty and Finance:  9-19-2024

Andy Schectman, CEO of Miles Franklin Precious Metals, discusses the ongoing shift from dollar reliance to gold among nations.

 He highlights how gold has significantly outperformed treasuries and is now viewed as a stable asset without counterparty risk, especially by governments.

Schectman emphasizes the alarming trends in U.S. monetary policy, including recent emergency rate cuts, which he argues only exacerbate inflation and economic instability.

 He also shares noteworthy statistics about India’s substantial silver imports and Saudi Arabia's secretive gold purchases, illustrating a global trend towards hard assets.

The conversation underscores a critical moment in financial history as countries increasingly prioritize gold in their economic strategies.

INTERVIEW TIMELINE:

 0:00 Intro

2:21 Fed rate cut

18:00 BRICS update

 26:55 Gold's rally

33:53 Retail availability

https://www.youtube.com/watch?v=K_TdyFm6oFg

“Tidbits From TNT” Friday Morning 9-20-2024

TNT:

Tishwash:  Iraq participates in the "2024 Gastech" exhibition and conference in Houston, USA

The Ministry of Oil participated in the Gastech 2024 Exhibition and Conference in Houston, USA. The Ministry of Oil stated in a statement received by Al-Mutala'a that: "The Ministry of Oil participated in the "2024 Gastech" exhibition and conference held in the US state of Houston."

The Undersecretary of the Ministry for Gas Affairs, Ezzat Saber, who headed the Ministry’s participating delegation, said: “The exhibition and conference discussed the transition to clean energy and the optimal investment of gas and the uses of gas and nitrogen.”

According to the statement, the Undersecretary met with "delegations of some of the companies participating in the exhibition, where he visited the Baker Hughes and Shell pavilions." link

Tishwash:  Government Advisor: Move to Include Blockchain and Social Media Content Creators in Taxes

Advisor to the Prime Minister and Chairman of the Supreme Committee for Tax Reform, Abdul Hussein Al-Anbaky, announced today, Monday, the move to include blockchain and content creators on social media in taxes.

Al-Anbaky said, "The requirements of tax justice require imposing tax rates on high-income earners, raising the ceilings of tax allowances, and exempting groups whose incomes are below those ceilings."

He stressed the need for "low tax rates for low-income earners who are above those ceilings," noting that "we are in the process of targeting new segments of new professions that generate large incomes that were not subject to tax, including content creators on social media sites."

"The new income tax law, which we have completed drafting, will be business-friendly, achieve justice and stimulate development," he said.  link

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

Tishwash:  Saudi Arabia opens consulate in Basra, trade office in Erbil

Saudi Ambassador to Iraq Abdul Aziz Al-Shammari said on Thursday that the Embassy of the Kingdom of Saudi Arabia in Iraq operates and moves under the umbrella of the Iraqi Ministry of Foreign Affairs and in coordination with it. While confirming the establishment of a commercial representation office in Erbil, he announced the imminent opening of a consulate in Basra.

Al-Shammari stated that "the embassy operates in all its movements under the umbrella of the Ministry of Foreign Affairs in Iraq, and any consulate must have coordination with the government," noting that "today the contract for establishing the embassy's commercial office in Erbil was signed, which will be part of the commercial consulate in Baghdad."

Al-Shammari added that "the Saudi consulate in Basra will soon be reopened, and commercial representation there will be at the highest level."
For his part, Muhammad Shukri, Chairman of the Kurdistan Investment Commission, confirmed that "there is coordination with the Saudi ambassador in Baghdad to open the commercial establishment office in Erbil, and that all mechanisms were carried out through coordination with the federal government."

He added that "all our commercial transactions with the Kingdom of Saudi Arabia will be carried out through Iraqi border crossings."

He continued, "Iraq is one market, not two divided markets, and there is coordination with Baghdad to open this office and the trade relations between Iraq and the Kurdistan Region on the one hand and Saudi Arabia and the rest of the Arab countries on the other hand will benefit all Iraqi provinces, and Dohuk will be of great benefit due to its industrial and agricultural nature and its great economic potential."

Today, Thursday, the signing ceremony of the contract for establishing the Saudi Trade Representation Office was held in Erbil Governorate, in the presence of the Ambassador of the Kingdom of Saudi Arabia, the representative of its trade office, the head of the Kurdistan Investment Commission, and the head of the Erbil Chamber of Commerce, according to the official agency.  link

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

Tishwash:  PM invites Indian companies to invest in Iraq

Prime Minister Mohammed Shia al-Sudani called on Indian companies to invest in Iraq today, Thursday.

The Prime Minister's Media Office said in a statement received by the Iraqi News Agency (INA): "Prime Minister Mohammed Shia al-Sudani received today the Ambassador of the Republic of India to Iraq, Prashant Pisai, on the occasion of the end of his duties," indicating that "the overall bilateral relations between Iraq and India and ways to enhance and develop them in various fields were discussed, especially with the development and construction movement witnessed by Iraq, which provided many important investment opportunities.

" Al-Sudani stressed "the necessity of following up on the implementation of the outcomes of the meetings of the Iraqi-Indian Committee, which held its (18) session during the month of June of last year, and the importance of holding political consultations periodically and continuously between the two countries, regarding bilateral relations and regional and international issues," calling on "Indian companies to invest in Iraq."

He stressed, "The importance of India, as an important country in the region and the world, playing a role in seeking to stop the Zionist entity's war on the Palestinian people and prevent the expansion of the conflict arena, due to the risks it poses to international security and stability," expressing his thanks, "to Pisai, for what he has provided during his tenure in Iraq, and for his role in developing and strengthening cooperation to important levels, wishing him success in his upcoming missions."

For his part, Pisai conveyed "the greetings of the Indian Prime Minister to Al-Sudani," expressing "the desire of Indian companies to work in Iraq in the fields of health, hospital management and infrastructure, in addition to the desire of Indian technology companies to work in Iraq in the fields of electronic payment and digitization."  link

Mot:  Its Snowing in Yosemite, - Its Snowing in Yellowstone -sooooooo

Mot:  Practise Makes Perfect - they Say!!! 

Billionaire Investor Ray Dalio Warns Debt Is Being Devalued

Billionaire Investor Ray Dalio Warns Debt Is Being Devalued

Kelly Cloonan  Thu, September 19, 2024  Business Insider

Billionaire Investor Ray Dalio Warns Debt Is Being Devalued as governments pile it up and central banks keep rates artificially low.  Billionaire investor Ray Dalio says he is worried by global debt levels and central bank policy.

Returning to "artificial low real rates" could cause a depreciation in debt value, Dalio said.

The Federal Reserve made its first rate cut in over four years on Wednesday.

 Yesterday, the Federal Reserve made a jumbo rate cut, its first cut in over four years as the central bank shifts its focus from fighting inflation to holding the job market together.

Yet, billionaire investor Ray Dalio isn't convinced that the Fed and other central banks' moves to lower rates will address the big problem: surging debt levels.

Dalio said the amount of debt held by governments around the world is historically unprecedented, and could lead to a depreciation of debt as central banks push borrowing costs lower.

Dalio is increasingly worried by "the enormous amount of debt that is being created by governments and monetized by central banks," particularly in the US, he said in an interview with CNBC's "Squawk Box Asia."

Global debt held by governments, companies, and individuals is estimated to be around $315 trillion, according to data from the Institute of International Finance.

"Those magnitudes have never existed in my lifetime," he said.

TO READ MORE: https://finance.yahoo.com/news/billionaire-investor-ray-dalio-warns-001310719.html     

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 9-19-24

Note From Recaps Team: We are very sorry this post did not make the intended 6 PM Newsletter – there was a delay in the delivery to the Team Leader that does them – We sincerely apologize  for the delay – Thank you for your understanding and devoted readership 

Good evening Dinar Recaps,

SEC BOSS ISSUES WARNING TO CRYPTO EXCHANGES

U.S. Securities and Exchange Commission Chairman Gary Gensler has warned so-called crypto exchanges that they must follow rules.

The SEC is currently engaged in legal battles with such major exchanges as Coinbase, Kraken, and Binance.  During a Wednesday interview with CNBC, Gensler stressed that the SEC would keep protecting the investing public.

"This is a field that is rife with fraudsters and scammers, and grifters," Gensler stressed.  

The SEC boss pointed to the fact that some of the biggest crypto figures from 2022 are now either in jail or awaiting extradition. Gensler, of course, was alluding to former FTX CEO Sam Bankman-Fried, former Binance CEO Changpeng Zhao, and Terra co-founder Do Kwon.  

The rules are clear  

Gensler has also stated that there was "nothing incompatible" about the field and basic protections in the securities laws.  

"If you store something on an accounting ledger…investors still need to have basic protections," he added.

While many industry leaders have been clamoring for regulatory clarity, Gensler is convinced that there is already enough regulatory clarity, arguing that the securities laws that have worked for 90 years.

The SEC's anti-crypto policies have been criticized by some lawmakers from both parties. However, the agency's approach also has some proponents on Capitol Hill. Case in point: Elizabeth Warren.

@ Newshounds News™

Source:  U Today

Visit, Like and Subscribe to Seeds of Wisdom Team Currency Facts

~~~~~~~~~

US LAWMAKERS DEMAND ANSWERS FROM GARY GENSLER ON SEC’S POSITION THAT CRYPTO AIRDROPS ARE SECURITIES TRANSACTIONS

Two crypto-friendly US lawmakers want U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler to clarify the regulator’s position on airdrops.

In a public letter sent to Gensler this week, Representatives Patrick McHenry (R-North Carolina) and Tom Emmer (R-Minnesota) argue that the SEC’s regulatory approach inhibits decentralization in the crypto space.

“By creating a hostile regulatory environment, including making assertions about airdrops in various cases and increasing warnings for additional enforcement actions, the SEC is putting its thumb on the scale and precluding American citizens from shaping the next iteration of the internet.”

The lawmakers cited the SEC’s 2023 lawsuit against crypto mogul Justin Sun, the Tron Foundation, BitTorrent Foundation and Rainberry Inc (formerly known as BitTorrent). The regulator accused the defendants of offering and selling unregistered crypto securities, namely TRX and BitTorrent (BTT).

The SEC specifically claimed Sun, BitTorrent and Rainberry sold BTT in “unregistered monthly airdrops to investors,” which the regulator argued violated securities laws. The lawsuit is ongoing.

Emmer and McHenry want Gensler to clarify how airdrops fit in with the Howey Test, an assessment created by the Supreme Court more than 90 years ago to determine whether assets should be classified as securities.

“In recent court filings, the SEC has taken the position that digital assets, in and of themselves, are not securities. Does the SEC believe that giving away non-security digital assets for free implicates the Howey Test? If so, under what circumstances or arrangements?

Companies routinely offer rewards to customers through intangible representations of value, such as airline miles or credit card points, without implicating the Howey Test.

 These rewards are distributed freely to encourage engagement, just as airdrops aim to engage users and developers in the blockchain network’s growth and decentralization. How does the SEC distinguish between these rewards, given away for free, and digital assets airdropped to an individual?”

The Republican lawmakers asked for a response by September 30th.

@ Newshounds News™

Source:  DailyHodl

~~~~~~~~~

LOUISIANA ACCEPTS FIRST CRYPTOCURRENCY PAYMENT FOR STATE SERVICES

Louisiana became the first U.S. state to accept cryptocurrency for government services on September 17, 2024, according to a press release from Louisiana State Treasurer John Fleming. Residents can now pay using bitcoin, BitcoinBitcoin +6.4% Lightning, and USD Coin from private crypto wallets.

The first cryptocurrency payment was processed on September 17, 2024 by the Louisiana Department of Wildlife and Fisheries. The state is partnering with Bead Pay, a cryptocurrency payment processor, to convert incoming crypto payments into U.S. dollars before depositing them into state accounts.

"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services," Fleming said in a statement.

Key benefits of the new system, according to the state treasury, include:

▪️Reduced fraudulent transactions

▪️Protection from cryptocurrency price volatility

▪️Compatibility with any digital wallet supporting the accepted cryptocurrencies

▪️The state receives all payments in U.S. dollars


This development comes three months after Louisiana passed House Bill 488, which was signed into law on June 19, 2024. According to a Forbes article by Susie Violet Ward, HB 488 established legal protections for bitcoin users and miners, while banning the use of Central Bank Digital Currencies for state payments.

The bill included provisions for the right to self-custody digital assets, transactional freedom with bitcoin, support for bitcoin mining in industrial areas, and a ban on CBDCs. Representative Mark Wright, who sponsored the bill, told Ward, "It's important to me that we create a welcome economic environment for innovation and investment." 

The acceptance of cryptocurrency payments for state services appears to be a practical implementation of the pro-cryptocurrency stance Louisiana took with HB 488.

@ Newshounds News™

Read more:  Forbes

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LOUISIANA ISN'T THE ONLY US STATE TO ACCEPT BITCOIN PAYMENTS—HERE ARE THE OTHERS

The state has already received a fine paid to the Louisiana Department of Wildlife and Fisheries via the Bitcoin Lightning Network.

The government of Louisiana has officially begun accepting cryptocurrency payments, making it the latest U.S. state to embrace digital currencies for state services.

Louisiana State Treasurer John Fleming announced earlier this week that residents can now use a number of digital assets as payment for various state services. Residents can now pay using Bitcoin (BTC), the Bitcoin Lightning Network, and the U.S. dollar-pegged stablecoin USDC.

The state said its first cryptocurrency payment has already been processed—a fine paid to the Louisiana Department of Wildlife and Fisheries via the Bitcoin Lightning Network.

According to Fleming, this development results from a collaboration between the state, Bead Pay, and local integration partners. He stated that the initiative aims to modernize payment systems and reduce fraudulent transactions.

"In today’s digital age, government systems must evolve and embrace new technologies," Fleming said. "By introducing cryptocurrency as a payment option, we’re not just innovating; we’re providing our citizens with flexibility and freedom in interacting with state services."

Other U.S. States Accepting Crypto Payments
Louisiana joins a growing list of states exploring the integration of cryptocurrency into government operations.

In 2018, Ohio started accepting cryptocurrency for tax payments through its now-defunct platform OhioCrypto.com. Businesses could pay 23 types of taxes using Bitcoin, which was converted to dollars via BitPay before reaching state coffers.

However, in 2019, the Ohio Attorney General declared that the state treasurer lacked the authority to operate the program without proper approval from the Board of Deposit and had not followed required bidding processes for payment processors. As a result, the initiative was shut down within a year, having been utilized by fewer than 10 companies.

Also 2018, the Seminole County Tax Office in Florida started accepting crypto payments through BitPay. The county tax collector was later found to have used public funds to finance his own blockchain company and was indicted by the Justice Department.

That was not the last initiative of this kind in the state. In March 2022, Florida Gov. Ron DeSantis promised that state agencies would allow businesses to make tax payments in cryptocurrency. This initiative aimed to promote Florida as a crypto-friendly state and encourage innovation in financial technology.

The same year, Colorado announced that it would begin accepting tax payments in cryptocurrency, requiring residents to “have the entire value of your invoice in a single cryptocurrency in your PayPal Cryptocurrencies Hub.”

Building on the 2022 momentum, in June 2024, Rep. Matt Gaetz (R-FL) introduced a bill that would permit Americans to settle their federal income tax obligations using Bitcoin.

Gaetz stated that modernizing the tax system to include cryptocurrency payments would promote innovation, increase efficiency, and help maintain the United States' leadership in technological advancement.

In 2022, Utah also passed a bill allowing state government agencies to accept cryptocurrency for tax payments starting in 2023. A 2022 Bloomberg report listed Arizona, California, Hawaii, Illinois, New York, Oklahoma, and Wyoming as legislatures that introduced similar proposals that never came into effect.

While not directly accepting cryptocurrency payments, California has also shown interest in blockchain technology. In early, 2023 the California Department of Motor Vehicles (DMV) began utilizing blockchain as an unfalsifiable database for its records. This move aimed to enhance the security and efficiency of record-keeping within the state's motor vehicle registry.

@ Newshounds News™

Source:  Decrypt

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Seeds of Wisdom RV and Economic Updates Thursday Evening 9-19-24

Good Evening Dinar Recaps,

LAWMAKER FLAGS CONCERNS OVER SEC'S CRYPTO APPROACH

Congressman French Hill has raised concerns over the U.S. Securities and Exchange Commission (SEC)’s handling of digital asset regulations, criticizing Chairman Gary Gensler’s leadership for creating legal uncertainty and a politicized approach.

The lawmaker highlighted his subcommittee’s legislative successes but expressed frustration with the SEC’s broad and unclear regulations, which he argued burden digital asset firms and stifle innovation.

Rep. Hill Criticizes SEC’s Approach to Digital Assets
Congressman French Hill (R-AR), chair of the House Financial Services Subcommittee on Digital Assets, Financial Technology, and Inclusion, delivered remarks Wednesday at a hearing titled “Dazed and Confused: Breaking Down the U.S. Securities and Exchange Commission (SEC)’s Politicized Approach to Digital Assets.”

The hearing scrutinized the SEC’s regulatory actions on digital assets under Chairman Gary Gensler, focusing on its enforcement methods and legal uncertainty.

In his speech, Hill acknowledged the subcommittee’s legislative achievements, including the Clarity for Payment Stablecoins Act and the Financial Innovation and Technology for the 21st Century Act (FIT21) regulatory framework. However, he expressed concern about the SEC’s actions under Gensler’s leadership, stating:

Despite this legislative progress on a bipartisan basis, we’ve been troubled by the fact that the SEC as chaired by Chairman Gensler has instead chosen to front-end the work of Congress and insert politics instead of being an independent regulator.

Hill argued that the SEC’s approach has created confusion and uncertainty, particularly through broad, unclear regulations that impose heavy burdens on digital asset firms. “How is this protecting the public?” he questioned, noting that this strategy leaves market participants in a “lose-lose-lose” situation.

The lawmaker criticized the SEC’s handling of digital asset custody services, stating, “Nowhere has the SEC’s prejudice against digital assets been more apparent than in the Staff Accounting Bulletin 121, which upends decades of legal precedent in the custody business and creates an impenetrable hurdle for those financial institutions seeking to provide digital asset custody services for their clients—particularly banks and bank trust departments.”

He also highlighted that the SEC’s actions have driven blockchain developers out of the U.S. and condemned the approval process for bitcoin exchange-traded products (ETFs).

“Even the SEC’s approval of exchange-traded products for bitcoin and ether earlier this year only happened because Chairman Gensler tried to overplay his hand but could no longer explain to the courts why the SEC approved bitcoin futures ETFs but not the proposed spot Bitcoin products,” Hill said, concluding:

We’re against SEC enforcement abuse and making it hard for legitimate actors who are trying to follow the rules to do a fine job and bring innovation and technology to our markets.

@ Newshounds News™

Source:  Bitcoin News

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Turkey Sets New Standards to Safeguard Cryptocurrency Transactions

▪️Turkey's new rules aim to increase security in cryptocurrency trading.

▪️SPK outlines strict regulations for exchanges to protect customers.

▪️All exchanges must comply with these newly established standards.

This year, Turkey has enacted legislation establishing specific standards for cryptocurrency exchanges, prompting institutions to take action.

The Capital Markets Board (SPK) has outlined comprehensive rules and prohibitions within its jurisdiction concerning cryptocurrency exchanges. Following these new regulations, exchanges servicing Turkish citizens must comply with these rules.

SPK’s Cryptocurrency Rules
The Capital Markets Board (SPK) is the equivalent of the SEC in the United States for Turkey. Many regulations regarding cryptocurrency exchanges are implemented by this public institution.

Today, we can say that a significant step has been taken. The new rules and prohibitions can be summarized as follows.

▪️Customer cryptocurrency and cash assets must be kept separate from platform assets. It is stipulated that customer cash held in banks should be monitored in a separate account designated for platform clients, apart from the platform’s own cash assets.

▪️Accounts opened on behalf of customers will be explicitly defined as belonging to the respective platform clients and cannot be used for unintended purposes.

▪️Payments to customers can only be made through banks and authorized intermediaries. Cash cannot be received or given directly to customers.

▪️All orders from customers must be received through the platform’s registered websites, mobile applications, or authorized personnel. Customer orders cannot be taken through social media platforms (WhatsApp, Telegram, etc.). Proper and secure record-keeping of orders is required.

▪️As of November 8, 2024, customers’ order logs, phone order recordings, and request recordings must be preserved.

▪️NFTs can be opened to users with a warning message indicating that assets traded in this market are not subject to the listing principles of the Capital Markets Law and are not under the supervision of the SPK.

▪️Transactions made in a P2P marketplace on behalf of someone else will be considered unauthorized cryptocurrency service activities. Exchanges must terminate these activities by November 8.

▪️Promotional campaigns that promise specific returns or encourage investments in one or more cryptocurrencies cannot be organized. Such campaigns must end within 15 days.

▪️Cryptocurrency exchanges must integrate with the Central Registry Agency (MKK) system.

▪️Platforms may only sell as much cryptocurrency as they have in their wallets for customer transactions. The responsibility of ensuring that sufficient assets exist for transactions between customers lies with the platform.

▪️Platforms cannot utilize customer assets or engage in leveraged transactions, nor can they lend these assets to customers.

@ Newshounds News™

Source:  CoinTurk

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CRYPTO.COM RECEIVES FULL APPROVAL FROM THE KINGDOM OF BAHRAIN

Crypto.com can now offer payment services in Bahrain after the Central Bank approved its local subsidiary

Key Notes
▪️Digital currency trading firm Crypto.com has landed major Bahraini license.

▪️The license was secured through FORIS GFS BH B.S.C CLOSED, the exchange's local outfit.

▪️Crypto.com has maintained a major global expansion trend over the years.

The Central Bank of Bahrain has given Singapore-based cryptocurrency exchange Crypto.com full approval to provide payment service provider (PSP) services. The approval was secured through its subsidiary registered in the Kingdom of Bahrain under the commercial name “FORIS GFS BH B.S.C. CLOSED”. This adds to the company’s significant regulatory milestones in the region.

This milestone comes barely one month after Crypto.com was named the official partner of the UEFA Champions League, one of the world’s most prestigious football tournaments.

Beyond Bahrain: Crypto.com Is Expanding Its Presence Globally
The full approval from Bahrain allows Crypto.com to expand its offerings of e-money and fiat-based payment services regionally. 

Some of these services include the launch of its world-renowned prepaid cards. H.E. Noor bint Ali Alkhulaif, the Minister of Sustainable Development and the Chief Executive of Bahrain Economic Development Board, acknowledged Crypto.com’s international presence and its earned reputation for regulatory compliance.

She noted that the decision to invest in the Kingdom of Bahrain will further bolster the nation’s ability to deliver on its vision of developing a digital-first, resilient economy that celebrates innovation and progress. The country already has an approach that fosters a streamlined investment environment that champions ease of doing business.

According to Alkhulaif, Bahrain is committed to building a world-class ecosystem to support the evolution of the fast-growing blockchain, crypto, and fintech industry.

The presence of robust regulations and a diverse pool of highly skilled and future-ready talent within the financial services and technology sectors puts Bahrain on the path to achieving its goal.

Crypto.com’s President and COO, Eric Anziani, highlighted the milestones that Bahrain has achieved over the years. He admitted to seeing Bahrain’s dedication to building an innovation-friendly crypto and fintech ecosystem. Over time, the nation has upheld a key factor: clear regulation that balances consumer protection with commercialization.

In the Gulf region, Crypto.com has successfully emerged as a leading hub for crypto services and fintech innovation. It prides itself on being one of the first Gulf Cooperation Council (GCC) nations to issue crypto-asset licenses.

Crypto.com is gradually expanding its presence to include regions like Singapore, France, the UK, and the US.

Crypto.com Bags More Exciting Deals
Apart from this approval from the Kingdom of Bahrain, Crypto.com has made headlines for different reasons in the past few weeks. Last month, it officially rolled out its Global Retail Services, a major step in expanding its offerings to users worldwide. This service was first launched in the UAE, with plans to expand to other regions in the future.

Similarly, the Singapore-based crypto exchange teamed up with the Telegram-based game Hamster Kombat to introduce a new metal card. The strategic partnership’s focus is to enhance payment flexibility for both in-game activities and real-life transactions. It will make crypto payment cards available for gamers and business owners worldwide.

@ Newshounds News™

Source:  CoinSpeaker

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RIPPLE AND SEC: THE FINAL STAGES OF A HISTORIC BATTLE

▪️The Ripple and SEC case is approaching its final stages after a significant fine.
▪️October 7 is a critical date that may affect XRP Coin's volatility.
▪️Ripple is preparing for potential outcomes to expand the use of XRP Coin.

Following a $125 million fine, the struggle between Ripple and the SEC is nearing its conclusion. This pivotal process has been ongoing since the end of 2020, impacting all altcoins significantly. However, can we definitively say the case is over? Not quite, as there is still an upcoming appeal process to monitor.

As a result, the SEC’s arbitrary labeling of assets as securities, including SOL Coin and many other cryptocurrencies, has become widely disregarded. For instance, Coinbase continues to list assets likely viewed as securities by the SEC.

The legal battle between Ripple and the SEC stands as the largest legal conflict that the SEC has pursued as an institution. Other similar cases, such as that involving Telegram, have been resolved much more swiftly. Previous assessments noted that the Judge confirmed that institutional sales constituted securities, which led to Ripple’s $125 million fine.

Appeal and XRP Coin
However, the SEC remains unsatisfied with the outcome. It is expected to assess the appeal process that will conclude in October 2024. Ripple has set aside the $125 million fine in escrow, preparing for the potential appeal.

In summary, the critical date ahead is October 7, and it would not be surprising to see increased volatility in XRP Coin’s price as this date approaches. If the SEC does not appeal, Ripple officials anticipate relief by October 7, marking the process as complete. Nevertheless, if an appeal occurs, it could lead to a short-term decline and prolong the proceedings significantly.

Regardless of the outcome, Ripple is now seeing light at the end of the tunnel. Moving forward, the expansion of XRP Coin’s use cases and additional measures will likely enhance the value of this altcoin. However, the continuously rising circulation supply makes reaching $3 prices somewhat implausible.

@ Newshounds News™

Source:  CoinTurk

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Newshound's Currency Facts Youtube and Rumble

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