30 Seconds To Midnight: THE FED JUST WENT BANKRUPT | Mike Maloney
30 Seconds To Midnight: THE FED JUST WENT BANKRUPT | Mike Maloney
10-1-2024
In this eye-opening video, Mike Maloney dives deep into the impending financial crisis and reveals that the Fed is genuinely bankrupt.
Since 2022, the Fed has been writing IOUs to the U.S. Treasury, all while paying out billions in interest to the biggest banks and it is all coming out of YOUR pocket.
Learn how the 2008 economic changes set this crisis in motion, why the Fed is now stuck in a "death spiral," and what this means for the global financial system.
30 Seconds To Midnight: THE FED JUST WENT BANKRUPT | Mike Maloney
10-1-2024
In this eye-opening video, Mike Maloney dives deep into the impending financial crisis and reveals that the Fed is genuinely bankrupt.
Since 2022, the Fed has been writing IOUs to the U.S. Treasury, all while paying out billions in interest to the biggest banks and it is all coming out of YOUR pocket.
Learn how the 2008 economic changes set this crisis in motion, why the Fed is now stuck in a "death spiral," and what this means for the global financial system.
More News, Rumors and Opinions Tuesday PM 10-1-2024
Ariel : 𝙒𝙚𝙡𝙘𝙤𝙢𝙚 𝙏𝙤 𝙔𝙤𝙪𝙧 𝙉𝙚𝙬 𝙂𝙤𝙡𝙙𝙚𝙣 𝘼𝙜𝙚: 𝘼 𝙍𝙚𝙖𝙡𝙞𝙩𝙮 𝘽𝙖𝙨𝙚𝙙 𝙊𝙣 𝙍𝙚𝙖𝙡 𝘼𝙨𝙨𝙚𝙩𝙨
In the traditional system, investing in gold and silver often requires significant capital. With tokenization, individuals can own fractions of these precious metals, making it accessible to a broader range of investors, not just those with large portfolios. This democratizes the ownership of real assets, creating more financial inclusion for everyday citizens.
Unlike fiat money, which is subject to inflation and can be printed at will, gold and silver have intrinsic value due to their scarcity and long-standing historical importance as stores of wealth. Tokenizing these metals on a decentralized ledger gives people the chance to own assets backed by tangible, real-world value, providing a hedge against economic instability and the erosion of purchasing power.
Ariel : 𝙒𝙚𝙡𝙘𝙤𝙢𝙚 𝙏𝙤 𝙔𝙤𝙪𝙧 𝙉𝙚𝙬 𝙂𝙤𝙡𝙙𝙚𝙣 𝘼𝙜𝙚: 𝘼 𝙍𝙚𝙖𝙡𝙞𝙩𝙮 𝘽𝙖𝙨𝙚𝙙 𝙊𝙣 𝙍𝙚𝙖𝙡 𝘼𝙨𝙨𝙚𝙩𝙨
In the traditional system, investing in gold and silver often requires significant capital. With tokenization, individuals can own fractions of these precious metals, making it accessible to a broader range of investors, not just those with large portfolios. This democratizes the ownership of real assets, creating more financial inclusion for everyday citizens.
Unlike fiat money, which is subject to inflation and can be printed at will, gold and silver have intrinsic value due to their scarcity and long-standing historical importance as stores of wealth. Tokenizing these metals on a decentralized ledger gives people the chance to own assets backed by tangible, real-world value, providing a hedge against economic instability and the erosion of purchasing power.
And you telling me we are not about to have the most historic October we ever had to date? How when it had already started?
Stephanie Star: Meld Gold confirms first transaction on mainnet went through on 9/29 regarding the tokenization of gold on XRPL with more to roll out through October #XRPCommunity #XRPArmy #XRPL
October 1st
Boom
Boom
Boom
Source(s):
https://x.com/Prolotario1/status/1840924692380586074
https://x.com/Prolotario1/status/1840933047539032289
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man In the last week or so...there's probably five or six articles specifically talking about removing zeros from the Iraqi dinar... Quote: "...this is done by removing a specific number of zeros from the nominal value of the currency." From the value of the currency not the currency notes but the value of the currency...
Frank26 They tell you [Iraqi citizens] there is an imminent change coming to your currency almost every day now. That is very exciting. These are the words we've only dreamed about in the last 5 years. To see them almost every day is rather shocking but very exciting right now...This is getting crazier and crazier every day with so much excitement and so much information about the monetary reform being sent directly pinpointed to you Iraqi citizens from Sudani.
Fed To ‘Kickstart’ Inflation, Next Crash Will Make August Look Like 'Dip' | Gareth Soloway
David Lin: 9-30-2024
Gareth Soloway, Chief Market Strategist of Verified Investing.com, discusses the Fed's latest rate cut, and its impact on inflation, economic growth, and markets. Soloway updates his outlook on stocks, gold, Bitcoin.
0:00 - Intro
0:40 - Market recap
2:10 - Declining corporate cash balance
6:06 - Financials sector
11:38 - Defensive sectors outperforming
16:30 - Fed monetary policy outlook
21:00 - Inflation outlook
23:20 - Gold
26:30 - “No landing” scenario
27:55 - S&P 500 outlook
29:30 - Hedging strategies
31:30 - China stimulus and stocks
35:20 - Bitcoin outlook
Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 10-01-24
Good Afternoon Dinar Recaps,
GHANA LAUNCHES GOLD COIN PRICED IN LOCAL CURRENCY
Ghana’s central bank launched a gold coin to boost domestic savings and manage liquidity. The coins are available in October and priced based on the London Bullion Market Association auction price. Despite efforts to strengthen the cedi, Ghana’s currency continues to depreciate against the U.S. dollar.
Gold Coins Priced in Local Currency
Ghana has launched a gold coin to encourage domestic savings and assist with managing money market liquidity. The coin, refined to 99.99% purity, is issued and guaranteed by the Bank of Ghana (BOG). The gold coins will reportedly come in one, half, and quarter ounces.
Good Afternoon Dinar Recaps,
GHANA LAUNCHES GOLD COIN PRICED IN LOCAL CURRENCY
Ghana’s central bank launched a gold coin to boost domestic savings and manage liquidity. The coins are available in October and priced based on the London Bullion Market Association auction price. Despite efforts to strengthen the cedi, Ghana’s currency continues to depreciate against the U.S. dollar.
Gold Coins Priced in Local Currency
Ghana has launched a gold coin to encourage domestic savings and assist with managing money market liquidity. The coin, refined to 99.99% purity, is issued and guaranteed by the Bank of Ghana (BOG). The gold coins will reportedly come in one, half, and quarter ounces.
According to a Bloomberg report, the coins will become available in the first two weeks of October. Residents interested in purchasing the coins will be able to do so using Ghanaian cedi. BOG governor Ernest Addison said the coins are priced based on the London Bullion Market Association (LBMA) auction price.
“The Ghana gold coin enables the Bank of Ghana to mop up excess liquidity in the banking sector and will supplement the bank’s bills for liquidity management. It gives those resident in Ghana an additional avenue to invest to reap the benefits of the Bank of Ghana’s domestic gold purchase program,” Addison said.
As noted in the Bloomberg report, the Ghanaian central bank has acquired 65.4 tons of gold valued at $5 billion since it launched the oil for gold scheme.
@ Newshounds News™
Source: Bitcoin News
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REGULATORY APPROVAL ALLOWS BINANCE TO LAUNCH FULL CRYPTO SERVICES IN ARGENTINA
Binance has secured registration with Argentina’s National Securities Commission, unlocking full crypto services for its local users.
Binance, the world’s largest cryptocurrency exchange, has officially launched its full range of services in Argentina after registering as a crypto service provider with the country’s National Securities Commission, according to a company announcement.
This regulatory approval marks Binance’s 20th registration milestone globally, expanding its offerings to a Latin American market. Binance’s mobile and web applications are now fully accessible to users across Argentina.
Binance in Argentina
This move allows Argentinians to trade, buy, and sell a wide variety of cryptocurrencies through Binance’s platform. This development aligns with the company’s strategy to expand in markets with strong crypto adoption potential.
Binance operates as an exchange where users can trade different digital assets, like Bitcoin or Ethereum. Think of it as a marketplace, but you deal with digital coins instead of traditional money.
This announcement follows other recent regulatory approvals in India, Kazakhstan, and Indonesia.
The exchange’s compliance program, which includes anti-money laundering policies and strict verification processes, demonstrates Binance’s efforts to meet regulatory standards and ensure user safety.
@ Newshounds News™
Source: Crypto News
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RIPPLE LABS EXPANDS ITS SERVICES WITH DFSA APPROVAL
▪️Ripple Labs received principal approval from DFSA for service expansion.
▪️The approval aids in introducing cross-border payment services in the UAE.
▪️Ripple focuses on developing new products like the stablecoin RLUSD.
Ripple Labs, a digital asset infrastructure provider, received principal approval from the Dubai Financial Services Authority (DFSA).
This approval enables the company to expand its services from the Dubai International Financial Centre (DIFC). This significant development strengthens Ripple’s global position as a regulated crypto service provider.
DFSA Approval Adds to Ripple’s License List
The principal approval from DFSA will assist Ripple in introducing cross-border payment services in the United Arab Emirates (UAE). In this context, services like Ripple Payments Direct (RPD) will be offered. This has the potential to expand the company’s user base by several million.
Ripple Continues to Increase Its Licenses
With the approval received from DFSA, Ripple continues to maintain licenses obtained from regions like Ireland and Singapore in past years. In 2022, Ripple acquired a license through a local startup to operate in Ireland.
Last year, it obtained a full license in Singapore, gaining regional Major Payment Institution (MPI) status. These licenses allow Ripple to operate outside the United States due to regulatory actions from the SEC.
Ripple Mints RLUSD in Private Beta Testing
In addition to its licenses and approvals, Ripple is also focusing on developing products within its ecosystem. The company is working on a stablecoin, RLUSD, pegged to the US dollar at a 1:1 ratio, which is currently in private beta testing on the XRP Ledger and Ethereum $2,510 mainnet.
By the end of September, 1.7 million RLUSD had been minted, with approximately 600,000 more produced as of September 30.
In light of these developments, Ripple’s DFSA approval enables the company to operate more effectively in the UAE and regional markets.
It also helps overcome challenges in partnerships due to regulatory pressures from the SEC. Ripple aims to make cross-border payment solutions faster, cost-effective, and efficient through regulatory compliance and critical infrastructure investments.
These steps by Ripple serve as an important example for the cryptocurrency sector. The company’s new licenses and developed products enhance its competitiveness in the global market while providing users with broader and more reliable service options.
@ Newshounds News™
Source: CoinTurk
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CARDANO-NATIVE USDA STABLECOIN LAUNCH SECURED BY BITGO PARTNERSHIP
BitGo partners with Anzens to provide custody for USDA, the Cardano-native stablecoin.
BitGo, a qualified custodian in the digital asset space, has announced its collaboration with Anzens, the issuer of USDA, to custody the Cardano-native stablecoin.
According to a recent press release, this partnership aims to enhance the security and functionality of the USDA stablecoin protocol. BitGo Trust, a leader in digital asset custody, brings its expertise to help integrate advanced financial infrastructure into the USDA framework.
@ Newshounds News™
Source: The Crypto Basic
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COMPILATION ON IRAN STRIKING ISREAL @ Newshounds News™
JUST IN: 🇮🇷🇮🇱 Iran releases statement in following missiles launched against Israel:
"In response to the martyrdom of Ismail Haniyeh, Seyyed Hassan Nasrallah and Martyr Nilforoshan, we targeted the heart of the occupied territories."
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JUST IN: 🇮🇷🇮🇱 Over 400 missiles were launched at Israel, Iranian State Media says.
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JUST IN: 🇺🇸🇮🇷 President Biden orders US military to shoot down Iranian missiles fired at Israel.
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Hezbollah now joins Iran in sending missiles into Israel
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UST IN: 🇮🇱 Israel says it will carry out powerful airstrikes throughout the Middle East tonight.
@BRICSNews
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JUST IN: 🇮🇷🇮🇱 Iran officially declares state of war against Israel.
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One person killed - a Palestinian Muslim from Jericho. Good job Iran….
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JUST IN: 🇯🇴🇮🇱 Jordan says its Air Force and aerial defenses intercepted Iranian missiles fired at Israel.
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🌍 Who's Behind the Global Currency Reset? | Youtube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
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“U.S. Will Default” - Sovereign Debt Collapse To Flip Global Monetary System | Andy Schectman
“U.S. Will Default” - Sovereign Debt Collapse To Flip Global Monetary System | Andy Schectman
Sean Foo: 9-30-2024
Today we sit with Andy Schectman, the CEO of Miles Franklin.
As the US debt continues to explode, this will only end badly, a sovereign default will come. This has great consequences for everyone as the monetary will reset and gold might be the cornerstone of this change.
And with the Russia, US and China economic war raging, this pushes us closer to the cliff.
“U.S. Will Default” - Sovereign Debt Collapse To Flip Global Monetary System | Andy Schectman
Sean Foo: 9-30-2024
Today we sit with Andy Schectman, the CEO of Miles Franklin.
As the US debt continues to explode, this will only end badly, a sovereign default will come. This has great consequences for everyone as the monetary will reset and gold might be the cornerstone of this change.
And with the Russia, US and China economic war raging, this pushes us closer to the cliff.
Timestamps & Chapters:
0:00 Trust In U.S. Assets Collapsing
7:57 Rate Cuts Accelerates The Default
14:23 Trump Or Harris Won't Save The Economy
20:18 US-Russia Extreme Conflict Risk
23:14 China Trade War Will Devastate The West
26:10 US Will Have A Sovereign Debt Crisis
36:17 Global Monetary Reset To Involve Gold
46:39 Prepare With Real Assets
“Tidbits From TNT” Tuesday 10-1-2024
TNT:
Tishwash: This is their value.. 9 American and Asian investment funds trade in the Iraqi market
The Chairman of the Securities Commission, Faisal Al-Haimus, confirmed today, Tuesday, that there are 9 American and Asian investment funds trading in the Iraqi market, indicating the size of these funds.
Al-Haims said during the World Investor Day conference, which was attended by the correspondent of "Al-Eqtisad News", that "the size of the Iraqi Stock Exchange represents a small percentage of the gross domestic product", noting that "there are 9 American and Asian investment funds trading in the Iraqi Stock Exchange".
He added, "The size of these funds reaches $500 million and is subject to increase," indicating that "setting the percentage of foreign investments at 49% hinders the entry of foreign investors."
TNT:
Tishwash: This is their value.. 9 American and Asian investment funds trade in the Iraqi market
The Chairman of the Securities Commission, Faisal Al-Haimus, confirmed today, Tuesday, that there are 9 American and Asian investment funds trading in the Iraqi market, indicating the size of these funds.
Al-Haims said during the World Investor Day conference, which was attended by the correspondent of "Al-Eqtisad News", that "the size of the Iraqi Stock Exchange represents a small percentage of the gross domestic product", noting that "there are 9 American and Asian investment funds trading in the Iraqi Stock Exchange".
He added, "The size of these funds reaches $500 million and is subject to increase," indicating that "setting the percentage of foreign investments at 49% hinders the entry of foreign investors."
Al-Haims pointed out that, "The new law will raise the foreign investor to 80%," expecting, "Iraq will accept an increase in the entry of foreign investors after the approval of the new law of the commission." link
Tishwash: Turkish businessmen in Diyala looking for investment opportunities
Diyala Governor Adnan Al-Shammari discussed with a delegation of Turkish businessmen the investment file in the province.
Al-Shammari said in a statement that he received a delegation of Turkish businessmen in his office in Diyala Governorate and discussed with them investment opportunities and the possibility of finding a suitable ground for investment in the governorate.
He stressed that investment in Diyala has become available and has fertile ground with the presence of many investment factors, especially since it enjoys great security stability.
He pointed out that the local administration attaches great importance to the issue of attracting international companies to invest in many strategic projects in the governorate. link
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Tishwash: Iraq Warns Forex Companies over Dollar/Dinar Commissions
The Central Bank of Iraq (CBI) has identified irregularities in the operations of several exchange companies regarding the sale of U.S. dollars allocated to travellers.
A recent audit and monitoring of company practices revealed that some exchange firms have been charging citizens a commission of 50,000 dinars for purchasing dollars, double the amount stipulated by official directives.
According to Circular No. 8003/1/9, issued on July 11, 2024, the Central Bank had clearly instructed exchange companies to collect a commission of only 25,000 dinars from citizens when purchasing foreign currency. The current overcharging practices have been deemed in violation of these regulations.
The Central Bank has emphasized that these directives were introduced to streamline the process for citizens and ensure smooth, transparent transactions. Exchange companies found to be non-compliant with these guidelines risk exclusion from participating in the official foreign currency buying and selling system in the future.
The Central Bank has urged all companies to promptly adhere to the official directives to avoid further sanctions. This move underscores the institution's commitment to maintaining order and fairness in Iraq's currency exchange markets. link
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Tishwash: Baghdad funds Erbil with 243 billion dinars to pay salaries of the region’s employees
Financial expert Hafidar Shaaban confirmed today, Tuesday (October 1, 2024), that the Federal Ministry of Finance will finance the region with an amount of 243 billion dinars.
Shaaban said in an interview with Baghdad Today, "The Federal Ministry of Finance will send this amount to the region, which is the remaining amount, for the purpose of financing the salaries of the Kurdistan Region in full, for the month of August."
He added, "Tomorrow, the Ministry of Finance in the regional government will begin disbursing employees' salaries, and Baghdad has asked the regional government to prepare the lists according to last February."
An informed source revealed, on Friday, September 27, 2024, the date for launching the disbursement of salaries for employees in the Kurdistan Region for the month of August.
The source told Baghdad Today, "The regional government needs 243 billion dinars to complete the full amount of employees' salaries, which amounts to 998 billion dinars."
He added, "Baghdad promised to send the amount next Sunday, and thus the salary list will be launched on the same day and the distribution will continue for only 3 days, and a few days later the salaries for the month of September will be funded, after the Ministry of Finance in the region sent the full salary list."
The Ministry of Finance in the Kurdistan Region announced yesterday, Thursday, "the delivery of the list of employees' salaries for the months of August and September, as requested by the Federal Ministry of Finance last time."
She explained that "in order to cover the deficit in August salaries, which is estimated at 243 billion dinars, the Federal Ministry of Finance decided to pay the suspended payments from February to August, and it is scheduled to start distributing salaries at the beginning of next week with the arrival of supplementary funding from Baghdad," stressing that she "is waiting to start sending September salaries to the region's employees and in order to start the process of auditing the payroll now link
Mot: .... and ON we Gooooooooooooooo!
Mot: Get Ready - Ladies!!!
News, Rumors and Opinions Tuesday AM 10-1-2024
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. 1 Oct. 2024
Compiled Tues. 1 Oct. 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Mon. 30 Sept. 2024 TNT : “On Friday I was told this would happen Mon/Tues. People in Kurdistan are being told they have a new rate tomorrow Tues. 1 Oct. Banks are currently in meetings at this moment. Brought Feds in last night. All waiting on the go. It’s done. All three letter agencies said their portions are done and expecting it tomorrow morning Tues. 1 Oct. Kurds are always ahead of Lebanon and Kurds got paid yesterday Sun. 29 Sept. It’s the end of the Quarter.
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. 1 Oct. 2024
Compiled Tues. 1 Oct. 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Mon. 30 Sept. 2024 TNT : “On Friday I was told this would happen Mon/Tues. People in Kurdistan are being told they have a new rate tomorrow Tues. 1 Oct. Banks are currently in meetings at this moment. Brought Feds in last night. All waiting on the go. It’s done. All three letter agencies said their portions are done and expecting it tomorrow morning Tues. 1 Oct. Kurds are always ahead of Lebanon and Kurds got paid yesterday Sun. 29 Sept. It’s the end of the Quarter.
Global Financial Crisis:
Mon. 30 Sept. 2024 SITREP: East Coast Port Strikes
The port strike, involves dockworkers from the International Longshoremen’s Association (ILA), is set to commence at midnight MONDAYNIGHT, affecting ports across the East and Gulf coasts of the United States.
Scale and Impact: Approximately 45,000 dockworkers are expected to go on strike. This could potentially shut down 36 ports which handle roughly half of the goods shipped into and out of the U.S.
This strike could lead to significant disruptions in the supply chain, potentially causing delays and price increases for a wide range of goods from automotive parts, electronics, to food items like fruits, coffee, and even holiday goods.
Economic Impact: Some sources suggest losses could reach up to $4.5 billion daily if the strike continues.
Why are they Striking?: The ILA is demanding a substantial wage increase, reported to be around 77% over six years, and stricter controls or bans on automation in port operations. This automation, which includes cranes and container-moving technologies, is at the heart of the dispute, with workers fearing job losses.
Preparation: Many businesses have shifting shipments to West Coast ports or preparing for extended supply chain disruptions. I encourage everyone to stock up on essentials. Today… don’t panic.. but just get what you need.
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Mon. 30 Sept. 2024 Red Oct. 1 Starting Gun Julian Assange on Telegram
Are we ready for what is about to commence? October 1st, we are about 24 hrs away from the starting gun. The course of history will change our lives forever. Everything is not going to be roses for everyone starting off, but it will even itself out, and the corrections will be noticed where it was needed for decades.
Banking systems have long been benefiting the wealthy at the expense of average citizens, contributing to economic inequality. High fees, limited access to credit for the underserved, and a lack of transparency have been major concerns. A shift towards decentralized financial systems will allow individuals more direct control over their finances, cutting out intermediaries like banks. Reforms will focus on ensuring underserved communities have access to banking services, credit, and investment opportunities traditionally out of reach.
Tomorrow, LIBOR is slated to be replaced by SOFR, marking a significant change in financial benchmarks. America will potentially start the new fiscal year under a gold-backed US Note, phasing out the current fiat USD over time. Because we are going back to a real value-based economy. And Basel 3 will be the standard way to accomplish this for all financial institutions.
Banks are now required to maintain higher capital reserves, meaning they must hold more secure assets relative to their liabilities. This leads to a stronger, more stable banking system, reducing the chances of another financial collapse. For the real estate industry, this means more responsible lending practices. Developers, homebuyers, and investors can be more confident that their loans are being issued by stable financial institutions with better safeguards.
Which is why I constantly tell you all to only do business with Basel 3 banks. I never said all banks are evil or that we should avoid them and start bartering. I’ve always stated Basel 3 is the way to go. So if a bank goes under, it’s more than likely because they weren’t compliant with the new Basel protocol.
We are entering a new phase of our lives. This point in history marks the official start of the long-awaited changes we desperately needed. We are at the doorstep, ready to step into this future with confidence that everything will work out to our benefit in both the short and long term. These changes will be welcomed by everyone who has long sought a new way of doing things.
So understand this: we will never be the same after this. Nothing will. We deserve to live in a world where we are not solely focused on survival—a low vibrational way of living that feeds the very system we want to escape. We’ve been corrupted by this system, putting profits above fairness, equality, and even God and humanity. All of this will begin its realignment back to God just hours from now.
Hope you all are ready. Things will speed up, and we should have a very big October.
Read full post here: https://dinarchronicles.com/2024/10/01/restored-republic-via-a-gcr-update-as-of-october-1-2024/
Courtesy of Dinar Guru: https://www.dinarguru.com/
Harlequinc3 [Response to Guru Clare's Article post below] This guy’s only got 1/2 the picture...CBI won’t just remove 3 0s without adjusting the nominal exchange rate and then adding purchasing power to the dinar — a rate change to you and me, we might call it an RV, though their end game is reinstatement...This guy is just referring to swapping out currency for Iraqis only. He’s not taking into account what happens to the dinar internationally...To an Iraqi, removing 3 0’s is just taking old dinar out of circulation and replacing it with smaller bills/digital payments. That’s why this guy is talking about a partial peg. The CBI is talking about a pure float. He’s only looking at half the process. This article is addressed to Iraqis only. IMO of course.
Clare Article: "What would happen to the Iraqi dinar if the zeros were removed? Comment by Dr. Mahmoud Dagher" Quote: "Economist Mahmoud Dagher pointed out that deleting zeros will not change...the purchasing power of the dinar...Instead of carrying a bundle of 50,000 dinar notes, it will be possible to compress them into a smaller number of notes after removing the zeros, and this will not change their purchasing power.
9-30-2024 Intel Guru Frank26 They're giving them a date of when they're going to stop the auctions, the window. Now they tell them we're lifting three zeros, you're getting purchasing power. They tell them you're getting the HCL. Then they go a step further and they said our currency is going to be stronger than the Jordanian dinar...It's going to be more than Jordan's currency...I believe they're going to reach the REER through the float at around $4.25...
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IQD Remains Stable Amid Tensions in Iraq Breaking News Zimbabwe
Edu Matrix: 10-1-2024
IQD Remains Stable Amid Tensions in Iraq Breaking News Zimbabwe - IQD Rate - Protest Over Death of Hezzabaha Leader -ZiG Currency Drops to 25 Zig to One U.S. Dollar - Up from 14 Zig to One U.S. Dollar.
Seeds of Wisdom RV and Economic Updates Tuesday Morning 10-01-24
Good Morning Dinar Recaps,
IOTA Powering Trade Across Africa: TLIP Takes Innovative Solutions to East Africa
▪️IOTA is among the sponsors of the African Customs & Trade Conference that takes place in Nairobi on October 7th
▪️The Trade and Logistics Information Pipeline (TLIP) will represent the IOTA ecosystem and display its market-leading solutions built on the IOTA network.
IOTA has been facilitating innovative solutions across the globe for years, with Africa among the regions where it’s changing the most lives. Come October 7th, IOTA will be showcasing its innovations and impact across the region as one of the sponsors of the African Customs & Trade Conference (ACT).
Good Morning Dinar Recaps,
IOTA Powering Trade Across Africa: TLIP Takes Innovative Solutions to East Africa
▪️IOTA is among the sponsors of the African Customs & Trade Conference that takes place in Nairobi on October 7th
▪️The Trade and Logistics Information Pipeline (TLIP) will represent the IOTA ecosystem and display its market-leading solutions built on the IOTA network.
IOTA has been facilitating innovative solutions across the globe for years, with Africa among the regions where it’s changing the most lives. Come October 7th, IOTA will be showcasing its innovations and impact across the region as one of the sponsors of the African Customs & Trade Conference (ACT).
ACT will be held in Kenya’s capital, Nairobi, between the 7th and 9th of October and will focus on effective trade facilitation in the world’s fastest-growing continent under the theme “Borderless trade: Effective trade facilitation in the digital age.”
Organized by Kenya’s tax agency, KRA, it will bring together industry thought leaders, including the heads of the revenue collection agencies across all 54 African nations. Others will include policymakers, academia, research organizations, trade experts, and tech providers.
IOTA has joined the event as a sponsor, alongside the likes of the Tony Blair Institute for Global Change, Germany’s main development agency, GIZ, and the Africa Export-Import Bank.
The IOTA ecosystem will be represented by the Trade and Logistics Information Pipeline (TLIP). It noted:
Join 54 Heads of Revenue Authorities, policymakers, & innovators at the ACT Conference, shaping the future of trade in Africa. We’re excited that TLIP built on IOTA, will present its digital solutions for streamlining customs & cross-border trade.
In a separate post, TLIP stated: “Expect discussions on innovative solutions to enhance trade across Africa, exploration of next-gen tech, and networking with key players in the sector.”
IOTA in Africa
TLIP has championed IOTA in the African region. Through its digital infrastructure, it enables secure and efficient cross-border collaboration between multiple parties, all done on the scalable, efficient, and feeless IOTA network.
TLIP enables participants across the entire supply chain to share and access digital trade documents in real-time, sourcing data and information from local databases, like Kenya’s tax agency database, as well as regional and global data ledgers. These documents range from export declarations, certificates of export, airway bills and more.
Globally, over $32 trillion is expected to be traded this year, with globalization leading to a more interconnected supply and distribution ecosystem that encourages specialization. However, despite its size, this sector is burdened by tedious and unreliable manual processes and paperwork.
Digital processes have failed as most participants don’t trust each other and have no way of verifying and authenticating information independently. new global trade avenue than the feeless and scalable IOTA?
This makes blockchain technology a perfect solution, and what better network to build this new global trade avenue than the feeless and scalable IOTA?
As we have reported in the past, IOTA has been facilitating global interconnected and sustainable trade via TLIP. The two have expanded to new frontiers, such as maritime activities, where cumbersome processes cost participants billions of dollars every year.
@ Newshounds News™
Source: Crypto News Flash
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EAST AND GULF COAST PORTS SHUT DOWN AS THOUSANDS OF WORKERS GO ON STRIKE
Tens of thousands of longshoremen went on strike at midnight ET, shutting down major ports along the East and Gulf coasts and choking off deliveries of everything from produce to auto parts.
Consumers aren’t likely to feel the pinch unless a walkout lasts for multiple weeks, because businesses and logistics firms took pre-emptive steps to blunt the impact with the holiday shopping season about to kick off. But a work stoppage could still cost the U.S. economy anywhere from several hundred million dollars to $4.5 billion a day, analysts and business groups say. Costs from redirecting goods along longer routes would be passed on to consumers.
The ports handle about half the ocean imports in the U.S. Varying estimates say the strike encompasses 25,000 to 50,000 members of the International Longshoremen’s Association. All told, the ILA has 85,000 members.
Union leaders argue that big global cargo carriers have raked in huge profits since pandemic-era supply-chain snags drove up freight rates, saying workers haven’t sufficiently shared in those gains.
In a video posted to an ILA Instagram account, Harold J. Daggett addressed union workers at Maher Terminals in Elizabeth, New Jersey.
"This is going down in history what we're doing here," he said.
"They can't survive too long," he added.
The strike caps months of heated rhetoric between the union and the United States Maritime Alliance, or USMX, which represents major ocean freight and port operators.
The union is seeking raises, as well as limits on automation at ports that it says could cost jobs. The two sides hadn’t negotiated in the days leading up to the potential stoppage.
“The Ocean Carriers represented by USMX want to enjoy rich billion-dollar profits that they are making in 2024, while they offer ILA Longshore Workers an unacceptable wage package that we reject,” the union said in a statement Monday.
The USMX, meanwhile, said that it had been exchanging offers with the union and had hoped to avoid a work stoppage.
“Our offer would increase wages by nearly 50 percent, triple employer contributions to employee retirement plans, strengthen our health care options, and retain the current language around automation and semi-automation,” it said in a news release.
Several industries are prepared for the strike, having ordered goods in advance when it became apparent that a stoppage could start Tuesday, but analysts expect more serious impacts if the walkout lasts several weeks or longer. Trucking and other logistics companies raced in recent days to get as many goods as possible out of ports before a potential strike.
The vast port operations of New York and New Jersey stand to be most affected, with about 4,500 workers. New York Gov. Kathy Hochul said in a news release that she urged the two sides to come to an agreement but that preparations had been made to keep shelves stocked.
"In preparation for this moment, New York has been working around the clock to ensure that our grocery stores and medical facilities have the essential products they need," she said. "It’s critical for USMX and the ILA to reach a fair agreement soon that respects workers and ensures a flow of commerce through our ports. In the meantime, we will continue our efforts to minimize disruption for New Yorkers."
Business groups, including the U.S. Chamber of Commerce, have urged President Joe Biden to intervene using the 1947 Taft-Hartley Act. Under that authority, Biden could seek a so-called 80-day cooling-off period that would force dockworkers to stay on the job.
But while the White House has been in touch with the ILA and the USMX in recent days, Biden has said he isn’t looking to invoke the law. An intervention could also unsettle relations with organized labor 35 days before Election Day, as Democratic Vice President Kamala Harris looks to maximize her union support against Republican former President Donald Trump.
“Because it’s collective bargaining, I don’t believe in Taft-Hartley,” Biden told reporters Sunday.
@ Newshounds News™
Source: NBC News
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INVESTMENT BANK REPORT IDENTIFIES RIPPLE AS A MAJOR COMPETITOR TO SWIFT
A report from global investment bank Houlihan Lokey mentions innovations in cross-border payments, revealing Ripple as a growing challenger to SWIFT.
A recent report from investment banking firm Houlihan Lokey discusses the improvements transforming the cross-border payments sector. The report, released in April as a Market Update, was recently spotlighted by XRP community figure WrathofKahneman (WOK).
One of the observations pointed out by WOK is that Ripple, a blockchain-based payment solution, is emerging as a serious competitor to SWIFT, the dominant player in cross-border payments for decades.
The report stressed that the cross-border sector sees about $190 trillion flowing globally in transactions annually. Notably, this makes the market a lucrative space where even incremental improvements in efficiency or cost reduction can have massive impacts.
Fragmented Payments Sector Presents Ripple with Opportunities
Per the report, the international payments market, while large, faces fragmentation. Traditional banking systems rely heavily on intermediaries, adding both cost and complexity to cross-border transactions.
These inefficiencies make the market ripe for disruption, particularly through new technologies that can simplify the process and reduce expenses. Ripple, leveraging blockchain technology, has positioned itself as a challenger to the legacy SWIFT network.
Notably, the system Ripple uses helps to provide faster settlement times, lower fees, and enhanced security compared to traditional banking systems.
Ripple and Blockchain Gaining Momentum
According to the report, Ripple and other blockchain solutions are beginning to make inroads into the cross-border payments market, competing with card networks and SWIFT’s established dominance.
Meanwhile, Ripple’s partnerships with various fintech companies further solidify its position. The report also highlights Airwallex, Nium, and Wise as other firms that are driving growth in this space. Two of these companies are Ripple partners.
For instance, Ripple’s partnership with Airwallex, confirmed in 2017, focuses on enabling efficient cross-border payments across its extensive network of business clients. Nium also teamed up with Ripple in 2020 to enhance its remittance services using RippleNet.
SWIFT Still Dominant but Facing Stiff Competition
Although SWIFT remains the leader, the report confirms its competition on multiple fronts. Besides Ripple and blockchain solutions, other fintech companies are providing alternative services that cater to the needs of businesses and individuals.
The report notes that firms such as Payoneer, TransferMate, and Thunes are also making strides, targeting the same clients who are tired of high fees and delayed settlement times typical of traditional systems.
The global cross-border business-to-business (B2B) payments market, expected to grow from $39.3 billion in 2023 to $56.1 billion by 2030, provides room for competition. Ripple’s positioning will likely become even more prominent amid the growing demand for more efficient, lower-cost solutions.
Furthermore, in the remittance space, Ripple’s partnerships with companies like Tranglo are already proving transformative. Tranglo joined forces with Ripple years back, but only fully integrated the ODL service from Ripple across all its routes in 2022.
@ Newshounds News™
Source: The Crypto Basic
~~~~~~~~~
🌍Comparing Kuwait's Revaluation to the GCR | Youtube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
~~~~~~~~~
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Seeds of Wisdom RV and Economic Updates Monday Evening 9-30-24
Good Evening Dinar Recaps,
BINANCE KAZAKHSTAN OBTAINS FULL DIGITAL ASSET TRADING FACILITY LICENSE
Binance Kazakhstan has obtained a full Digital Asset Trading Facility (DATF) license from the Astana Financial Services Authority (AFSA).
The license authorizes Binance Kazakhstan to operate a digital assets trading facility, act as a broker-dealer, and provide custody services for digital assets.
Kazakhstan has become the first country in Central Asia where a Binance entity has secured a regulatory license, highlighting the nation’s forward-looking approach to financial innovation and Binance’s sustained commitment to operating at the highest standards of trust and security in line with all applicable local regulations.
Good Evening Dinar Recaps,
BINANCE KAZAKHSTAN OBTAINS FULL DIGITAL ASSET TRADING FACILITY LICENSE
Binance Kazakhstan has obtained a full Digital Asset Trading Facility (DATF) license from the Astana Financial Services Authority (AFSA).
The license authorizes Binance Kazakhstan to operate a digital assets trading facility, act as a broker-dealer, and provide custody services for digital assets.
Kazakhstan has become the first country in Central Asia where a Binance entity has secured a regulatory license, highlighting the nation’s forward-looking approach to financial innovation and Binance’s sustained commitment to operating at the highest standards of trust and security in line with all applicable local regulations.
For Binance Kazakhstan, obtaining the full DATF license meant undergoing a rigorous and comprehensive review, including an External Financial Audit, ISO certifications, and multiple internal and external audits to ensure full compliance with all applicable regulatory requirements.
The multi-stage review by the regulator saw Binance Kazakhstan being assessed against the standards set out in a variety of specialized codes and rulebooks: the AIFC Digital Asset Activities, Conduct of Business Rules, AML laws, and other relevant regulations.
The resulting approval underscores the fit of Binance Kazakhstan’s robust systems, controls, and cybersecurity protocols for the task of providing a secure, compliant platform for digital-asset trading.
@ Newshounds News™
Source: Forex News Group
~~~~~~~~~
ROBINHOOD VP QUASHES STABLECOIN LAUNCH RUMORS
Kerbrat told Decrypt in an interview on Sept. 30 that Robinhood has no active plans to explore the development of a stablecoin.
Robinhood Crypto Vice President and General Manager Johann Kerbrat put an end to recent rumors that the fintech giant has plans to launch its own stablecoin.
Kerbrat told Decrypt in an interview on Sept. 30 that Robinhood has no active plans to explore the development of a stablecoin.
Kerbrat said:
“At this point, we don’t have any immediate plan to launch a stablecoin. The rumors are always interesting, but we haven’t really spent time on it.”
His comments come after a recent Bloomberg News report claimed Robinhood and Revolut were looking to launch a stablecoin.
Despite rising interest in stablecoins, Kerbrat emphasized that Robinhood has no imminent plans to enter this space. He added:
“It’s always interesting to see where people think we’re going to go next, but for now, that’s not part of our roadmap.”
Hello, World!
Robinhood’s approach to stablecoins has largely been through partnerships, including the listing of Circle’s USD Coin (USDC). Meanwhile, Revolut has expanded its crypto offerings but has not confirmed any specific plans for a stablecoin launch.
@ Newshounds News™
Read more: CryptoSlate
~~~~~~~~~
FULLY FUNCTIONAL RIPPLE STABLECOIN (RLUSD) WILL NOT LAUNCH THIS YEAR: EXPERT
The XRP community is currently abuzz with speculation regarding the imminent release of the Ripple stablecoin, RLUSD. Contrary to widespread rumors, Vet (@Vet_X0), a recognized XRPL dUNL validator and co-founder of the leading NFT marketplace on the XRP Ledger “xrp.cafe,” has clarified that the RLUSD will not be fully functional on the XRPL this year.
Why The Ripple Stablecoin Will Not Be Fully Operational This Year
In a detailed post on X, Vet explains the technical constraints: “Expectation management! RLUSD will either only launch on ETH this year, or they launch also on the XRPL but without the ability to be used in the AMM on the XRP Ledger initially, but with the DEX orderbook. I expect, or rather hope, for the latter.”
Vet further elaborated on the reasons, pointing to the ‘clawback’ feature enabled on RLUSD, which the XRP Ledger currently does not support in its Automated Market Maker (AMM).
“RLUSD is a stablecoin with clawback settings enabled. Tokens with this setting are denied by the XRP Ledger to be used in the AMM. There are amendments in the works to help solving this,” Vet added.
The key amendments cited by Vet include XLS-73 AMM Clawback and XLS-77, which are designed to enhance control over trustlines and restrict the transferability of RLUSD under certain conditions. XLS-73 aims to modify the AMM system to accommodate assets with clawback features, while XLS-77 is intended to allow for a more comprehensive freeze of Trustlines further securing the network against misuse by blacklisted accounts.
“In other words, because the XRPL is decentralized these amendments are impossible to predict when they will come, especially given the fatigue I observed. I love seeing people be excited about things happening on chain via the tracker I made, educating themselves on trustlines and IOUs on the XRPL is exactly where I want attention to go to, as opposed to screenshots of articles, partnerships and secret committee hot air talk,” Vet concluded.
Notably, Ripple Chief Technology Officer (CTO) David “JoelKatz” Schwartz did not dispute Vet’s overall assessment but did provide a clarification on a specific technical point in Vet’s explanation. In a commentary on X, Schwartz noted:
“FWIW, I’m not sure I like the description of XLS-77 as a ‘deeper’ freeze. If anything, it’s less deep. Unless I’m missing something, in any case where XLS-77 makes a difference, an asset that would have been frozen is, instead, not frozen.”
Vet responded to Schwartz’s critique by refining his terminology, acknowledging the complexity of the terms and their implications across the XRPL infrastructure: “Good point…hmmm…in my mind it made sense because the freeze goes beyond the trustline, it includes the payment engine and dex – maybe that’s why ‘deep.'”
Daniel Keller, another well-known figure within the XRP community, sought further clarification if the core statement about the Ripple stablecoin is pure speculation or a fact. Vet confirmed the technical barriers: “Confirmed by the XRP Ledger that it’s not possible. Unconfirmed what way they will go, only ETH or ETH and XRPL but with the AMM restrictions.”
@ Newshounds News™
Source: Bitcoinist
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66th NABE Annual Meeting: Luncheon Address - A View from the Federal Reserve Board
Powell on the Economy Today, "we see the risks to achieving our employment and inflation goals as roughly in balance."
"Our policy rate had been at a two-decade high since the July 2023 meeting. At the time of that meeting, core inflation was above 4 percent, well above our target, and unemployment was 3.5 percent, near a 50-year low. In the 14 months since, inflation has moved down, and unemployment has moved up, in both cases significantly. It was time for a recalibration of our policy stance to reflect progress toward our goals as well as the changed balance of risks."
@ Newshounds News™
Sources: Youtube
Federal Reserve
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KASIKORNBANK LAUNCHES FIRST LICENSED THAI DIGITAL ASSET CUSTODIAN
The new custody service will be just the latest in the bank's new digital asset and AI activities.
Thailand’s Kasikornbank, its second-largest bank by assets, intends to launch orbix Custodian as the country’s first licensed digital asset custodian, Kasikornbank, also known as KBank, announced. orbix Custodian obtained a Digital Asset Custodian license from the Ministry of Finance and will be supervised by the Securities and Exchange Commission (SEC).
The orbix Custodian’s license was granted on Sept. 13 but only announced two weeks later. The business is expected to begin operations in early 2025.
A busy month for digital assets at KBank
The launch of the custody service is the latest in a series of moves Kasikornbank has made in the crypto space. President Pipit Aneaknithi said in a statement:
“This will lay a strong foundation for further development of digital financial infrastructure, promoting Thailand as a digital economy hub and advancing the country's digital industry, in response to government policy to accommodate future changes in the financial sector.”
Kasikornbank owns orbix Custodian through its digital-focused Unita Capital subsidiary. It joins orbix Invest and orbix Technology. The orbix Trade platform is a cryptocurrency exchange that was known as Satang before its acquisition by Unita Capital in October 2023.
orbix Technology offers blockchain infrastructure services. That division was inherited from Satang.
At the beginning of September, orbix Technology launched the Q-Bond project. Q Bonds worth 500 million baht ($15.4 million) were issued on the Quarix blockchain. The bonds have one-year maturity and a fixed interest rate of 2.38%. KBank and state-owned oil and gas company PTT were partners in the issue.
orbix Invest is a digital asset fund manager that launched in July. KBank introduced orbix Reward at the beginning of September as a customer loyalty program for orbix Trade. The customer’s first opportunity to earn an orbix Reward is after completing its Know Your Customer verification.
KBank has its finger in the AI pie too
In addition to its digital asset operations, KBank subsidiary Kasikorn Business Technology Group (KBTC) has joined AI Singapore and Google Research in developing large language models (LLMs) in Southeast Asia in Project SEALD (Southeast Asian Languages in One Network Data). The project was launched in March, and KBTG’s participation was announced on Sept. 24.
The partners are looking to create LLMs in Thai, Indonesian, Tamil, Filipino and Burmese.
@ Newshounds News™
Source: CoinTelegraph
~~~~~~~~~
Japan to potentially lower capital gains tax on crypto in regulatory review
Reclassifying digital assets under the Financial Instruments and Exchange Act could significantly reduce the current 55% tax rate on crypto gains.
Japan’s Financial Services Agency (FSA) is poised to reassess its crypto regulations, potentially reducing taxes on crypto gains and reclassifying digital assets in a bid to foster a more favorable investment environment by 2025, Bloomberg News reported Sept. 25.
The FSA’s upcoming review, which will continue through the winter, will determine whether the existing framework under the Payments Act adequately reflects the evolving role of cryptocurrencies.
Regulatory review
According to the report, the agency may shift the classification of digital assets to fall under the Financial Instruments and Exchange Act. This change could impose stricter investment regulations while also potentially reducing the tax burden on crypto-related profits.
Such a change by the FSA could lead to a significant reduction in the tax rate on crypto gains, which currently reaches as high as 55%. If reclassified as financial instruments, digital assets could be taxed at around 20%, aligning them with stocks and other financial assets.
The local industry has long argued that the high taxation has hindered growth and believes relief in this area will lead to significant growth as it encourages investing.
In addition to tax cuts, the review may also result in the approval of exchange-traded funds (ETFs) containing digital tokens, which would further integrate cryptocurrencies into Japan’s broader financial market.
For years, the FSA has sought to balance promoting innovation in the digital asset space with the need to protect investors. This latest review signals a continued effort to find a middle ground that fosters growth while ensuring regulatory safeguards remain in place.
@ Newshounds News™
Read more: CryptoSlate
~~~~~~~~~
🌍 XRP VS TRADITIONAL BANKING: WHY BANKS ARE EYEING RIPPLE! | Youtube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
~~~~~~~~~
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More News, Rumors and Opinions Monday Night 9-30-2024
Thoughts From Ariel
Tomorrow LIBOR is slated to be replaced by SOFR, marking a significant change in financial benchmarks. America will potentially start the new fiscal year under a gold-backed US Note as phase out the current fiat USD over time. Because we ate going back to a real value based economy. And Basel 3 will be the standard way to accomplish this for all financial institutions.
Banks are now required to maintain higher capital reserves, which means they must hold more secure assets relative to their liabilities. This leads to a stronger and more stable banking system, which reduces the chances of another financial collapse. For the real estate industry, this means more responsible lending practices. Developers, homebuyers, and investors can be more confident that their loans are being issued by stable financial institutions with better safeguards in place.
Thoughts From Ariel
Tomorrow LIBOR is slated to be replaced by SOFR, marking a significant change in financial benchmarks. America will potentially start the new fiscal year under a gold-backed US Note as phase out the current fiat USD over time. Because we ate going back to a real value based economy. And Basel 3 will be the standard way to accomplish this for all financial institutions.
Banks are now required to maintain higher capital reserves, which means they must hold more secure assets relative to their liabilities. This leads to a stronger and more stable banking system, which reduces the chances of another financial collapse. For the real estate industry, this means more responsible lending practices. Developers, homebuyers, and investors can be more confident that their loans are being issued by stable financial institutions with better safeguards in place.
Which is why I constantly tell you all to only do business with Basel 3 banks. I never told you all that all banks are evil and that we should avoid them and start bartering our way out of this mess. I do not know why people like to infer more than they like to understand and presume I was the one who told them things as if it was scripture. I have always stated Basel 3 is the way to go. So please understand if a bank goes under its more than likely they were not compliant with the new Basel protocol or policy.
We are entering a new phase of our lives and we have to understand we are at a point in history that will mark the official start of long waited changes we so desperately needed in our country and across the world. And we are at the doorstep ready to step in to this future will the confidence that everything will work itself out to our benefit in the short & long term on many levels that will be welcomed by everyone who have long sought a new way of doing things.
So I hope you all understand this and know that we will never be the same after this. Nothing will. And we deserve to live in a world where we are not solely focused on survival which is a very archaic low vibrational way of living that feeds the system we want to escape. Which is the irony of it all.
We have become corrupted by its ways and have foregone a more natural way to interact with our environment just for the sake of making another dollar that has put profits above fairness & equality. But most of all God and humanity had taken a back seat to which we have allowed ourselves to be exploited in school, church, job, and way of life. All of this will begin its realignment back to God hours from now.
Hope you all are ready. Things will speed up and we should have a very big October.
************
KTFA:
Clare: Internal and external debts "exhaust" the Iraqi budget, and experts diagnose the reasons
9/30/2024
The Iraqi government took a series of measures to reduce the external public debt from the financial surpluses achieved as a result of the rise in oil prices, and succeeded in reducing it. However, in return, the internal debt rose to exceed 70 trillion dinars to bridge the gap in financial liquidity and operating expenses.
Iraq continued to borrow externally after 2003, especially during the oil price collapse that coincided with security operations against ISIS in 2014, in addition to internal borrowing to cover the country's general budget deficit.
The International Monetary Fund said that Iraq's internal imbalances were exacerbated by the large financial expansion and the decline in oil prices, noting that Iraq needs to gradually correct the public finances to achieve debt stability in the medium term and rebuild financial reserves.
"Dead" debts
Member of the Parliamentary Finance Committee, Jamal Kojer, said in an interview with Shafaq News Agency, "The external debt found in the reports available to us is a dead debt related to the Gulf War. These debts date back more than 30 years and countries do not demand them, so they are not real debts. If the Iraqi state demands their cancellation, they will be cancelled."
He points out that "the internal debt, which exceeds 70 trillion Iraqi dinars, is gradually increasing because the state's revenues are less than expenditures, and despite that, it is not a frightening debt."
According to official data, Iraq's internal debts amount to $50 billion, which are collected within the official and governmental financial apparatus, in addition to the existence of outstanding debts to eight countries, including Iran, Saudi Arabia, Qatar, the Emirates and Kuwait, amounting to $40 billion. These debts are questionable from Iraq's point of view and have not been written off, despite being subject to the Paris Club.
Low external debt
In turn, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, explained in an interview with Shafaq News Agency, that "Iraq is considered one of the countries with very little external debt, as the total debts due do not exceed 10 billion dollars, and these have annual allocations in the federal general budget to extinguish them, and they must be extinguished by 2028."
"The external debt is the remnants of the pre-1990 settlements," he added, noting that "Iraq is considered to have high creditworthiness according to the classification of international companies such as S&P Global Ratings and Fitch, and therefore the external debt does not exceed 5% of the gross domestic product compared to the international standard that accepts debts up to 60% of the gross domestic product."
Saleh points out that "there are internal debts amounting to 76 trillion dinars caused by two financial crises, the first of which was between 2014 and 2017, which was the war against ISIS terrorism and the decline in oil prices, and the second crisis was the Corona pandemic, which led to the closure of global markets and a significant decline in oil prices, and thus large borrowings occurred."
He stresses that "domestic debt generally does not exceed 30% of the gross domestic product and is a debt within the government and not between the government and individuals or the market, and there are mechanisms to extinguish it within the government's financial and banking system, and therefore there are no risks."
Debt is not the perfect solution.
However, the economic expert, Dhurgham Muhammad Ali, sees the opposite of what the financial advisor said, and says in an interview with Shafaq News Agency, "The internal debts also pose a danger because they must be paid and must not exceed 50% of the country's annual gross domestic product."
He added, "Expanding domestic borrowing is not the ideal solution to cover the budget deficit, but rather it is an easy way to cover the deficit using primitive but effective methods, as long as they do not exceed the required limit, especially in light of the decline in financial inclusion and the low rates of bank deposits for the Iraqi citizen compared to neighboring countries."
He explains that "combating corruption and following up on Iraq's money that has been swallowed by corruption over the past years is slow and ineffective and faces obstacles and challenges, and recovering this money could pay off many internal debts."
hard currency
For his part, economic expert Hilal Al-Taan confirmed, in an interview with Shafaq News Agency, that "the internal debts do not have a significant impact on the Iraqi economy, and most of them are in favor of the Ministry of Finance, the Central Bank, and other ministries."
He believes that "the major impact on the economy is on foreign debts because they are settled in hard currency, unlike domestic debts, which are settled in national currency. The state must first reduce foreign debts."
The largest part of the domestic debt is owed to the Central Bank of Iraq, the Rafidain and Rashid banks, and the Trade Bank of Iraq, which lent the government large sums of money to cover the federal budget deficit. LINK
************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man In the last week or so...there's probably five or six articles specifically talking about removing zeros from the Iraqi dinar... Quote: "...this is done by removing a specific number of zeros from the nominal value of the currency." From the value of the currency not the currency notes but the value of the currency...
Frank26 They tell you [Iraqi citizens] there is an imminent change coming to your currency almost every day now. That is very exciting. These are the words we've only dreamed about in the last 5 years. To see them almost every day is rather shocking but very exciting right now...This is getting crazier and crazier every day with so much excitement and so much information about the monetary reform being sent directly pinpointed to you Iraqi citizens from Sudani.
CBI of Iraq fishing for corrupt exchanges offices
Nader: 9-30-2024
MORE OPPORTUNITY THAN YOU CAN IMAGINE! Updates: Stocks, Gold, SILVER, Crypto. MORE!
Greg Mannarino: 9-30-2024
Seeds of Wisdom RV and Economic Updates Monday Afternoon 9-30-24
Good Afternoon Dinar Recaps,
CANADA SETS NEW DEADLINE FOR CRYPTO PLATFORMS TO COMPLY WITH STABLECOIN REGULATIONS
The Canadian Securities Administrators (CSA) have announced an updated regulatory framework for stablecoins, also known as value-referenced crypto assets (VRCAs), with a new compliance deadline set for December 31, 2024.
UPDATED REGULATORY REQUIREMENTS
The updated regulations emphasize transparency and investor protection, requiring stablecoin issuers to maintain appropriate reserves with qualified custodians and to publicly disclose information about their governance, operations, and reserves.
Good Afternoon Dinar Recaps,
CANADA SETS NEW DEADLINE FOR CRYPTO PLATFORMS TO COMPLY WITH STABLECOIN REGULATIONS
The Canadian Securities Administrators (CSA) have announced an updated regulatory framework for stablecoins, also known as value-referenced crypto assets (VRCAs), with a new compliance deadline set for December 31, 2024.
UPDATED REGULATORY REQUIREMENTS
The updated regulations emphasize transparency and investor protection, requiring stablecoin issuers to maintain appropriate reserves with qualified custodians and to publicly disclose information about their governance, operations, and reserves.
These measures aim to enhance the integrity of the Canadian capital markets and ensure the safety of investors engaging with crypto trading platforms.
Recently, Canada has been in the news when its central bank announced a strategic shift away from developing a retail CBDC (Central Bank Digital Currency).
@ Newshounds News™
Source: Bitcoin News
~~~~~~~~~
WIKI FINANCE EXPO DUBAI 2024 WILL BE HELD ON NOV 27TH!
FinTech, Forex, Crypto, Web 3.0, Metaverse, ESG and AI Will Be in Focus.
Taking place on Nov 27, 2024, Wiki Finance Expo Dubai 2024 is one of the largest and most influential FinTech and Web3.0 events in Asia in 2024.
@ Newshounds News™
Read more: Blockchain Reporter
~~~~~~~~~
OHIO SENATOR INTRODUCES BILL TO ALLOW TAXES TO BE PAID IN BITCOIN
In what could be massive for Bitcoin and the crypto market, Ohio senator Niraj Antani has introduced a bill that would legalize BTC as a payment option for state taxes and other fees. Indeed, the legislation would be transformative in how it allows for the usage of cryptocurrencies for payments.
The bill was first introduced Monday and would create a new avenue for state financial obligations for Ohioans. Moreover, it could create increased adoption in the state, driving larger exposure to the leading cryptocurrency and other tokens through the key legislative change.
Ohio Bill Would Allow Bitcoin as Legal Payment for State Taxes and Other Fees
2024 is certainly Bitcoin’s year. In January, the asset had become the first crypto-based ETF in the United States. Just three months later, it surged to a $73,000 all-time high. Now, with October nearing, there are expectations that BTC could challenge that price.
While the asset is looking to surge, Ohio Senator Niraj Antani has recently introduced a bill that would allow both state and local taxes to be paid in Bitcoin and other crypto. Indeed, Antani took to X (formerly Twitter) to announce the new legislation that would change the landscape of Ohio finance.
Antani noted he had “introduced a bill [to] legalize the use of cryptocurrency to pay state and local taxes and fees.” Moreover, he said, “Cryptocurrency is not just the future- it’s the present.” The legislation would come five years after Ohio became the first state to accept crypto for tax payments.
However, a year after it was approved, the Ohio Attorney General ruled the State Board of Depostis had to approve the policy. That move stalled the development, with Antani looking to make amends. His move would put the state at the forefront of digital finance in the United States.
@ Newshounds News™
Source: Watcher Guru
~~~~~~~~~
TAIWAN NOW ALLOWS PROFESSIONAL INVESTORS TO ACCESS BITCOIN ETFS
In a massive development for the country, Taiwan’s Financial Supervisory Commission (FSC) has allowed professional investors to gain access to foreign Bitcoin and other crypto ETFs. Indeed, the commission announced the change Monday, allowing select investors to participate with “foreign virtu asset” exchange-traded funds.
The crypto-based ETF market has surged in the United States this year. After receiving the first Bitcoin ETF approval in January, Ethereum quickly followed suit just a month earlier. Now, Taiwan has looked to expand “product choices,” for the country’s investors through its recent decision.
Taiwan FSC to Allow Crypto ETF Access in Notable Shift
2024 has been massive for Bitcoin, and its recently approved ETFs. Just last week, the ETFs of the leading crypto drew more than $1 billion in net inflows.
That has proven to be its highest since July, and a notable shift from the last several months. It has investors clearly expecting a massive surge to come with October fast approaching.
As the market sentiment is beginning to shift, one country may be prepared to take advantage. Indeed, Taiwan has officially decided to allow professional investors access to foreign Bitcoin and crypto ETFs. The huge move will allow select individuals to have access to the crypto currency investment products.
The report notes that there is a specific criteria to meet for those hoping to invest. “Professional investors include professional institutional investors, high-net-worth investment legal persons, high-asset clients, legal persons or funds that are professional investors, and natural persons that are professional investors,” the FSC clarified.
Additionally, there must be a board-approved suitability assessment for securities firms looking to invest in crypto ETFs. This will coincide with mandatory educational efforts for businesses. Specifically, this will seek to teach more about cryptocurrency, and its inherent risks.
Yet, the decision still adds Taiwan to a list of nations looking to further embrace crypto as a growing, globally important, asset class.
@ Newshounds News™
Source: Watcher Guru
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TRUMP'S WORLD LIBERTY FINANCIAL OPENS KYC VERIFICATION
The project urges crypto's accredited investor class to "'Be DeFiant' and begin the KYC process.
Trump-backed World Liberty Financial has opened up Know Your Customer (KYC) verification on its official website for its upcoming public token sale.
What's the Scoop?
KYC Purpose:
According to the homepage, information about the project is only accessible to those completing the KYC process. In the U.S., only accredited investors will be eligible.
Token Details:
It was confirmed that World Liberty Financial will issue a non-transferable governance token, WLFI. Token distribution includes 63% to the public, 17% for rewards, and 20% for team compensation.
Bankless Take:
While we’re inching closer to World Liberty Financial’s launch, we’re inching closer to the election too. With the majority of crypto seeing WLFI as a net negative to Trump’s chance to win and potentially impeding bipartisan progress for crypto if he doesn’t, the KYC launch does little except heighten anxieties. Regardless, with less-than-desirable tokenomics, it will be interesting to see how much funding WLFI accrues for its non-transferable token sale.
@ Newshounds News™
Source: Bankless
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Source: Seeds of Wisdom Team RV Currency Facts
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Economist’s “News and Views” Monday 9-30-2024
Gold Wars: Here’s the Reason a Monetary Reboot Is Inching Closer Reveals Insider
Daniela Cambone: 8-30-2024
“I am worried that we have entered a period of higher and higher inflation and we have all the secular pressures for that,” David Daglio, former CIO of Mellon and strategic advisor for TwinFocus, reveals to Daniela Cambone.
He highlights that we might be approaching a “Bretton Woods moment,” indicating a significant shift in the global economic order reminiscent of the 1944 Bretton Woods Conference.
Gold Wars: Here’s the Reason a Monetary Reboot Is Inching Closer Reveals Insider
Daniela Cambone: 8-30-2024
“I am worried that we have entered a period of higher and higher inflation and we have all the secular pressures for that,” David Daglio, former CIO of Mellon and strategic advisor for TwinFocus, reveals to Daniela Cambone.
He highlights that we might be approaching a “Bretton Woods moment,” indicating a significant shift in the global economic order reminiscent of the 1944 Bretton Woods Conference.
Daglio emphasizes the pivotal moment of seizing $600 billion from Russian citizens during the Ukraine war, which marked the U.S.'s first use of currency as a geopolitical weapon.
This bold action has sent shockwaves through global markets, fundamentally changing how countries view the reliability of the U.S. dollar. In light of these instabilities, David asserts that gold “is the most overlooked straight-up asset I have ever seen.”
Watch the eye-opening conversation to learn about the future of our global economy and the potential impact on your investments!
CHAPTERS:
00:00 Why hasn’t Wall Street embraced gold?
3:00 The Fed’s rate cutting
6:36 Jay Powell’s ego
7:29 Bretton Woods II moment
9:15 Investment strategies
10:11 US debt
12:06 Economic outlook for next 5 years
Now it's oil: China, BRICS and OPEC+ build new trading system, locking out US suppliers and banks
Geo Flux: 9-30-2024
China, the BRICS countries (Brazil, Russia, India, China, and South Africa), and OPEC+ are making moves to challenge the dominance of the US dollar in global oil trade.
The expansion of BRICS to include oil-rich nations like Saudi Arabia and Iran could be a strategic move to challenge the petrodollar system.
China and India are increasingly making deals to buy OPEC+ oil in currencies other than the US dollar, such as the Chinese yuan (petroyuan). Russia is seeking to diversify its energy partners to circumvent Western sanctions, with the BRICS countries now accounting for 90% of Russian energy export payments.
Saudi Arabia, a traditional US ally, has moved closer to China and Russia under Crown Prince Mohammed bin Salman and is considering joining BRICS. The BRICS nations are looking to establish a new reserve currency backed by a basket of their respective currencies, which would allow them to assert their economic independence and compete with the US dollar-dominated international financial system.
This could potentially lead to a decline in demand for the US dollar (de-dollarization) and significantly impact its global dominance.