Some “BRICS New’s” Monday 10-14-2024

Vance Lanci: What To Expect In Gold Ahead Of BRICS Meeting In 2 Weeks

Arcadia Economics:  10-14-2024

This year's BRICS meeting is now less than 2 weeks away.

And as reports continue to circulate regarding their progress on a payment settlement currency whose current proposal includes a 40% gold backing

In today's show Vince Lanci lays out a roadmap of what you can expect in the gold market in the days leading up to the meeting.

To find out more, click to watch the video now!

https://www.youtube.com/watch?v=strAOnjnm7U

BRICS: US Banks Face $500B in Losses as De-Dollarization Grows: what's Going On?

Geopolitical Analyst:  10-14-2024

While the BRICS alliance is strengthening its banking system, the US seems to be on a downhill.

In the last three years alone, 15 US banks collapsed renewing fears of financial instability across the country. The BRICS bloc has pushed de-dollarization efforts especially since it expanded its numbers.

Now, the pressure is mounting on the US dollar, as the country’s banks face over $500 billion in unrealized losses, according to a new report. A finance expert at Florida Atlantic University revealed that the United States’ unrealized losses on investment securities are over $500 billion as of the end of Q2 2024.

This is a slight downtrend from the first quarter of the year: a decrease to $513 billion from $516 billion. However, it’s still a significant loss for one of the strongest economies in the world.

Banks are now saddled with more than half a trillion dollars on the balance sheets in their papers. The development shows that the US banks are at risk while the central banks of BRICS are massively accumulating gold to hedge against the US dollar.

Rebel Cole, Ph.D., Lynn Eminent Scholar Chaired Professor of Finance in FAU’s College of Business. He says that despite the slight downtrend in unrealized losses for banks between quarters: US banks aren’t in the clear. “The 10-year treasury yield has been extraordinarily volatile for the past two years as inflation has increased.

Banks are also affected by their exposure to uninsured deposits, so the combination of unrealized losses and exposure to uninsured deposits can be particularly pernicious.” This combination can be especially lethal as the US dollar suffers as well from inflation and BRICS pressure.

The Growing US Debt and Bank Losses Weakens US Dollar, Economy Against BRICS. Furthermore, the United States’ debt has continued to rise this year past its all-time high. The current debt nationwide sits at over $35.7 trillion. Over the last three days alone, the debt has surged by a noticeable $345 billion.

 The US government is currently paying $3 billion in interest on its debt per day. The increased debt and unrealized losses are only putting more pressure on the US economy, chagrin to US investors but to the pleasure of BRICS.

While the unrealized losses are only on the balance sheets, they could become a liability when the banks require liquidity. This puts the US banking system under pressure as BRICS continues dumping US treasuries and the dollar.

The BRICS alliance is also spearheading the de-dollarization movement by convincing developing countries to end reliance on the dollar. With more countries looking to dethrone the greenback, further pressure could be put on the US banks, and thus the entire US economy.

Growing pressure for a new global currency comes after continued weaponisation of the US dollar in the form of sanctions and trade wars. Many countries are seeking greater independence from the US financial system.

For decades, the United States has been considered the global hegemon. However, BRICS nations now account for more than 40 per cent of the world’s population and have an aggregated global GDP of 31.5 per cent.

This surpasses the G7’s (United States, Canada, France, Germany, Italy, Japan and the United Kingdom) GDP of 30.7 per cent.

 It’s conceivable to see BRICS nations entirely self-sufficient, trading among themselves without any reliance on the United States.

As the reliance on US dollars diminishes, central banks have since 2023 been seen dumping their dollar reserves. This has led to hyperinflation, a spike in interest rates to compensate for the loss of purchasing power, and falling asset prices, further accelerating US decline.

 The trend of de-dollarisation is occurring – but it is not something unique.

Let's take a look at why the world is turning away from the US dollar.

https://www.youtube.com/watch?v=uoGGp8KtT_s

Seeds of Wisdom RV and Economic Updates Monday Morning 10-14-24

Good Morning Dinar Recaps,

HOSKINSON DETAILS CARDANO’S BILL OF RIGHTS FOR BLOCKCHAIN GOVERNANCE

Charles Hoskinson, the founder of Cardano, unveiled a framework for blockchain governance in his latest broadcast, introducing what he refers to as a “Bill of Rights” for the Cardano ecosystem.

This initiative, centered around 11 foundational blockchain tenants, aims to establish a constitutional foundation that will guide the development and governance of Cardano and potentially influence broader blockchain technologies.

Broadcasting live from Colorado on October 13, 2024, Hoskinson emphasized the collaborative efforts underpinning this initiative. “More than 50 workshops have already been held,” he stated. The process has seen participation from 1,400 individuals and the election of 63 delegates.

At the heart of Hoskinson’s announcement is a blog post titled “The 11 Blockchain Tenants Towards a Blockchain Bill of Rights.” He clarified that these tenants are not exclusive to Cardano but are intended as a universal framework applicable to various blockchain systems. 

“These tenants are meant to capture the natural durability of these systems and the rights of their users,” Hoskinson explained, drawing parallels to human rights enshrined in constitutional law.

The 11 Cardano Blockchain Tenants
Hoskinson provided an in-depth exploration of each of the 11 tenants, elucidating their significance and practical implications for Cardano:

1.  Transaction Censorship Resistance: “Transactions cannot be slowed down or censored and will be expediently served for their intended purpose,” Hoskinson stated. He likened this principle to the freedom of speech, emphasizing the importance of maintaining user autonomy within the system.

“Transactions express the ways the users wish to engage with the system so users should be free and able to do so in a manner proportional to their intent; this excludes censorship but also mandates expediency and processing.”

2.  Predictable Transaction Costs: Hoskinson asserted that “the cost of a transaction should be predictable and cannot be unreasonable,” which is essential for user planning and system sustainability.

He acknowledged the challenges in balancing resource allocation with user intent, especially in high-demand scenarios. Mechanisms like tiered pricing and intent-based ledgers are being explored to address these issues.

3.  Fair Recognition And Compensation: Addressing the equitable treatment of contributors, Hoskinson noted, “Every user’s inputs and contributions to the system will be recognized, recorded, processed, and assessed fairly.” This tenant seeks to ensure that both maintenance and development efforts are adequately rewarded, preventing incentives failures within the ecosystem. He also highlighted the need to fairly compensate various roles, from stake pool operators to governance participants.

4.  Data And Value Portability: Reflecting principles similar to the European Union’s General Data Protection Regulation (GDPR), Hoskinson emphasized the importance of user consent in data handling. “The value and data users contribute or create will not be locked or processed without their consent,” he stated. He advocates for user control over personal assets and information.

5.  Resource Efficiency: “No resources will be unnecessarily spent,” Hoskinson explained, highlighting the necessity of minimizing resource utilization through efficient protocol design. This tenant aims to prevent systemic bloat and ensure the long-term viability of the blockchain. Examples include protocol optimizations that reduce transaction sizes without compromising security.

6.  Safe Preservation Of Value And Information: Hoskinson discussed the dual aspects of this tenant: preserving the integrity of information against threats like quantum attacks and ensuring value stability through mechanisms like stablecoins. “The system will safely preserve the value and information stored within it,” he stated, emphasizing both data integrity and asset stability as critical components.

7.  Minimization Of Unnecessary Resource Expenditure: This tenant focuses on resource optimization, ensuring that Cardano operates efficiently without wasting resources. Hoskinson highlighted the transition from Plutus V1 to V2 as an example, where transaction sizes were significantly reduced, enhancing overall system efficiency.

8.  Fair And Representative Governance: “The system will treat users fairly and will evolve accordingly to their collective will, aiming at its long-term sustainability and viability,” Hoskinson declared. 

This tenant emphasizes the importance of inclusive governance, where all stakeholders have a voice in the system’s evolution. The upcoming Constitutional Convention in Buenos Aires aims to formalize these governance principles.

9.  User Privacy Preservation: Emphasizing data privacy, Hoskinson stated, “Users’ privacy, both in terms of their actions and their data, should be preserved.” Drawing parallels to GDPR, he advocated for minimal disclosure and selective, contextual data sharing. This tenant addresses the balance between transparency and privacy, ensuring users retain control over their personal information.

10.  Compliance with Local Laws and Regulations: “The system will offer users ways to engage that do not require them to break local laws and regulations,” Hoskinson explained. This tenant acknowledges the global nature of Cardano and the necessity for users to remain compliant with their respective jurisdictions.

11.  Transparency, Predictability, and Verifiability: The final tenant mandates that “the system’s operation should be transparent, predictable, verifiable, interpretable, and without asymmetries.” Hoskinson emphasized the importance of open-source protocols and public verifiability to ensure trust and accountability within the ecosystem.

The Way Forward
Hoskinson detailed the ongoing efforts to formalize these tenants through decentralized governance. “You have to have decentralized governance before you go down that road because only through decentralized governance can you make a decision for everyone everywhere, that’s the point of Voltaire,” he remarked. 

The upcoming Constitutional Convention in Buenos Aires, Argentina, scheduled for December 2024, will bring together delegates from 50 countries to finalize and approve the constitutional text based on these tenants.

The founder underscored the significance of this initiative beyond Cardano, suggesting that other blockchain communities could adopt similar frameworks to balance technical innovation with ethical governance. 

“These tenants are being actively debated by the Cardano community […] they will act as beacons in the far horizon that will pull Cardano and other blockchain communities to where they intend to travel to,” Hoskinson stated.

Hoskinson concluded the video by highlighting the importance of preserving the system’s integrity over short-term gains. “We should never sacrifice the integrity of the system for the sake of short-term gain or short-term progress on some arbitrary metric like token price or adoption,” he asserted.

@ Newshounds News™

Source:  Bitcoinist

~~~~~~~~~

GOLD FEVER HITS COSTCO: 77% OF STORES SELL OUT AMID SOARING DEMAND FOR BULLION

Costco’s gold bars are flying off the shelves as record-high gold prices spark a buying frenzy across the U.S. A recent survey found that 77% of Costco stores offering gold sold out in early October. The trend reflects growing demand for gold as a hedge against inflation and economic uncertainty.

Costco’s Gold Bars Are Selling Out Amid Record Gold Prices
Gold bars from American multinational wholesale corporation Costco have become a highly sought-after item, selling out from store shelves across the U.S. as gold prices reach record highs. 

A survey of Costco outlets in 46 U.S. states revealed that 77% of stores stocking gold bars sold out within the first week of October, Bloomberg reported. 

The retailer’s ability to offer gold at competitive prices, combined with membership rewards, has made it a popular destination for those seeking a hedge against inflation.

Costco provides bullion at prices below those of traditional precious metals dealers, and loyal members can receive up to 4% in rewards, further boosting the appeal of buying gold at the big-box retailer. 

Sourav Sethia, an analytics engineer from New Jersey, has taken advantage of Costco’s convenient gold offerings. Sethia, who regularly buys gold bars at the store, said he receives calls whenever new stock arrives, allowing him to purchase when prices dip. His experience is part of a larger trend of consumers flocking to Costco as gold prices soared nearly 30% this year.

The metal’s appeal as a safe haven amid inflation and economic uncertainty has driven many to seek out the stability that gold provides. According to Josh Young, a Houston-based money manager who bought a gold bar and coin from Costco:

It’s physical and gold does have a long history of being a store of value even though there’s no cash flow from it. It’s a good personal diversifier.

Costco’s foray into the bullion market has drawn significant attention since it began selling gold bars in 2023. The retailer’s chief financial officer Gary Millerchip highlighted the popularity of its gold products. He was quoted as saying:

We are glad to be able to offer gold and silver items for our members. It’s a great example of our merchants constantly finding new ways to deliver uniqueness and value.

Shoppers are drawn to Costco’s gold offerings not just for their investment value but for the convenience of purchasing a long-standing store of wealth at a familiar location. Many customers appreciate the ability to diversify their assets with minimal hassle.

Despite the high demand, Costco’s success in the gold market may not influence overall prices, as the volumes sold are relatively small. However, according to industry experts, the retailer’s strong sales reflect sustained support for gold. 

As spot prices for the metal continue to rise, Costco is helping make gold more accessible to average consumers. Nicky Shiels, head of metals strategy at MKS PAMP, noted that Costco is attracting “a whole new cohort of retail buyers,” adding that this could have positive long-term effects on the market.

@ Newshounds News™

Source:  Bitcoin News

 ~~~~~~~~~

RIPPLE’S CEO CLAIMS SEC IGNORES COURT RULING ON XRP STATUS

▪️Ripple’s Chief Executive Officer, Brad Garlinghouse, argues the SEC overlooks a vital court ruling.

▪️The SEC is appealing a decision that states XRP is not a monetary instrument.

▪️Bitnomial is also taking action against the SEC over its claims on XRP options.

The company’s founder has accused the U.S. Securities and Exchange Commission  of overlooking a court conclusion on the token’s classification.

This verdict determined that XRP is not a security and raised questions about the commission’s authority. Consequently, industry stakeholders are closely monitoring these developments as legal disputes escalate.

Legal Differences Escalate  
Recently, the SEC’s Notice of Appeal has sparked discussion. This Notice aims to challenge the summary judgment and final ruling in the SEC vs. Ripple case. This high-profile legal battle has persisted for over four years and attracted considerable attention.

 In July 2023, Judge Analisa Torres ruled that programmatic sales of XRP do not meet the third prong of the Howey Test. This test determines whether an asset qualifies as a security.

In response to the SEC’s complaint, Ripple plans to file a cross-appeal. The SEC contests a decision that includes a $125 million fine against Ripple for its institutional the coin’s  purchase.

The organisation’s Chief Legal Officer, Stuart Alderoty,  stated that the SEC’s inquiry does not affect the  rules of clarity. Furthermore, this response has led to a positive shift in sentiment among the currency holders.

Bitnomial’s Legal Action  
Additionally, Bitnomial Inc. has filed a lawsuit against the SEC. This lawsuit highlights ongoing regulatory challenges. It stems from the SEC’s efforts to assert jurisdiction over digital asset derivatives. 

Bitnomial intends to launch physically delivered XRP Futures after receiving self-certification from the Commodity Futures Trading Commission  on August 9, 2024. However, the SEC later contacted Bitnomial and claimed jurisdiction over the XRP US Dollar Futures contract.

Bitnomial argues that the SEC’s claims are unwarranted. The exchange insists that these offerings should be classified as commodity derivatives rather than securities.

Support for this position comes from the recent decision by the Southern District of New York. This ruling confirmed that XRP is not inherently a security and was not classified as such in secondary market trades.

Implications for Cryptocurrency Regulation  
As these legal battles unfold, the cryptocurrency community watches closely. The SEC’s pursuit of regulatory authority raises important questions about future cryptocurrency regulations in the United States. The outcomes could set serious precedents for Ripple Bitnomial and the broader digital asset ecosystem. Industry participants await clarity as these legal disputes continue to evolve.

@ Newshounds News™

Source:  Crypto News Land

 ~~~~~~~~~

🌍 THE CONSTITUTION AND THE NEW FINANCIAL SYSTEM  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

3 Things the Wealthy Worry About Most

3 Things the Wealthy Worry About Most

Christy Bieber   Updated Mon, October 14, 2024  Moneywise

2 out 3 millionaires in the US don’t consider themselves rich — here are the 3 things the wealthy worry about most

Most people in America don't believe they're rich.  In fact, only 12% of the population thinks they're wealthy, according to recent research from Edelman Financial Engines.

Surprisingly, it's not just low- and middle-income households who don't feel flush with cash. A separate Northwestern Mutual study revealed only 33% of millionaires count themselves among the rich.

With so many millionaires reporting they don't feel great about their finances, it's worth looking at exactly what has this demographic group so concerned.

Here are three top fears of wealthy Americans so you can see how their fears compare to what average Americans worry about.

How Taxes Impact Retirement

For wealthy Americans, their No. 1 retirement concern isn't whether they'll have enough money to retire comfortably or have enough cash to last for life. Instead, Northwestern Mutual reveals their top fear is how taxes are likely to impact their retirement.

Concerns about taxation have prompted 61% of millionaires to create a plan to reduce the share of their retirement savings going to the IRS. These plans include strategic withdrawals, using a mix of traditional and Roth accounts, and claiming tax breaks for charitable deductions.

For Americans who are living on less, obviously running short of money is a more pressing concern than future tax bills. Still, even lower and middle-income individuals should consider how their retirement income will be affected by taxation.

The Senior Citizens League reports around half of all households now face taxes on Social Security benefits. Many older Americans whose income comes primarily from 401(k)s, IRAs or other accounts with taxable withdrawals could easily find themselves among this group. Taxes on withdrawals from these accounts will also cut into the amount of money they have to spend.

Making a strategic tax plan by borrowing the techniques of the rich and choosing a good mix of tax-advantaged accounts is a smart move no matter how big your bank account.

The Political Environment

TO READ MORE:  https://www.yahoo.com/finance/news/2-3-millionaires-us-don-105500922.html

News, Rumors and Opinions Monday AM 10-14-2024

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 Mon. 14 Oct. 2024

Compiled Mon. 14 Oct. 2024 12:01 am EST by Judy Byington

Possible Timing: (Rumors/Opinions)

Fri. 4 Oct. 2024 saw the (Alleged) launch of a new Quantum Financial System (QFS) satellite, linking the system to Starlink. The QFS now has global transparency, independent of Earth-based infrastructure.

On Wed. 9 Oct. 2024 BRICS 12 Countries Ditched US Dollar and will now pay trade in local currencies: https://watcher.guru/news/brics-12-countries-ditch-us-dollar-pay-85-trade-in-local-currencies

Sat. 12 Oct. 2024 Wolverine: “From all sources, this is the (Alleged) week we have been waiting for. Things are defiantly moving.”

On Mon. 14 Oct. 2024 at the BRICS Summit they are (allegedly) going to announce the Seven Kingdoms, along with the Global Currency Reset.

Mon. 14 Oct. 2024 the old banking system—Bank of America, Deutsche Bank and JP Morgan— was expected to collapse, with the QFS taking over as stock markets crash.

Wed. 16 Oct. is a designated celebration day for Iraq and the day they will (allegedly) pay their contractors in the new Dinar Rate.

Brace yourselves—the storm is upon us.

The Earth Alliance, Star Link, and military are ready to execute the final phase. The old world is crumbling, and a new era of freedom is beginning. For years, the Earth Alliance has been preparing, quietly building a secure network of satellites that will make this possible.

The EBS broadcast could last up to 10 days, depending on ground conditions. During this time, there will be no internet, no social media, no TV, no mainstream news. Stock up on food, water, and supplies—you won’t be able to access stores or services during this period.

The Deepstate’s financial institutions will collapse. The Quantum Financial System (QFS) will replace the corruptt system, marking the greatest wealth transfer in history. Banks, stock markets, and fiat currencies will be obliterated, replaced by a fair system that serves the people.

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

Sun. 13 Oct. 2024 Russia’s Gold Standard, QFS Satellites, and Starlink Annihilate the Fiat System—Globalist Financial Control SHATTERED as Deepstate Scrambles to Hide Their Collapse! …John F. Kennedy Jr. on Telegram

As of October 11, 2024, the pieces of the globalist control puzzle are falling apart. What’s happening now will make everything else look like child’s play. The Russian gold-backed ruble is fully operational, but it’s just the beginning. New intelligence reveals that China, India, and Brazil are quietly aligning with Russia in a multi-nation gold-backed currency alliance to take down SWIFT—the Deepstate’s financial chokehold on the world.

SWIFT, the dirty money machine of the DS, is crumbling. This is an attack on the petrodollar, and as the world turns away from fiat currency, the DS’s empire is collapsing. The new gold-backed ruble is tied to Russia’s energy markets, and now Europe is on the verge of financial ruin. Countries like Germany, France, and Italy are in secret negotiations to move away from the dollar and adopt the gold-backed ruble.

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

Global Financial Crisis:

Operation Sandman is a collaboration of 100+ nations in agreement to simultaneously sell off their US Treasury holdings, sending them back to the US to collapse the US Dollar. https://x.com/danscavino/status/1845139034601030143?s=46

Sun. 13 Oct. 2024: The BRICS nations have an agreement to stop trading on the US Dollar: https://x.com/_crypto_barbie/status/1845382250407313848?s=46

Sun. 13 Oct. 2024: OPERATION SANDMAN Now Activated: 100 Nations Launch Devastating Strike to Obliterate the US Dollar and Cripple America’s Economy! – amg-news.com – American Media Group

Sun. 13 Oct. 2024: Canada Banks Prepare For Bank Run Risk: https://financialpost.com/fp-finance/banking/canada-bank-run-risk-rising#:~:text=Canada%20may%20not%20have%20had,country’s%20top%20banking%20regulating%20agency

Read full post here:  https://dinarchronicles.com/2024/10/14/restored-republic-via-a-gcr-update-as-of-october-14-2024/

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

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

Militia Man  Iraq is filthy with assets.  All non-oil income...natural resources...are taken into consideration when they figure a Real Effective Exchange rate which we haven't seen.  The original $3.22 was based off oil.  It was not based off non-oil...taxes at the borders, income derived from phone bills, electronics, sales tax, things of that nature.

Frank26  Question: "Are we waiting for after our elections or IYO does it have anything to do with it?"  No, our elections have nothing to do with the monetary reform of Iraq.  No, those are completely two different tracks, two different directions...destinations.  Although one is depending on the other.  Why do you think the US Treasury told Sudani, get your butt back there and get this done?

MARKETS A LOOK AHEAD: SOON ALL BETS ARE OFF! AND THIS IS WHAT YOU NEED TO KNOW.

Greg Mannarino:  10-13-2024

https://www.youtube.com/watch?v=Fx28i7bcX90

$1 TRILLION DEAL: Big US Banks Enjoy Billions in Profit as Depositors Are Taken Advantage Of

Lena Petrova:  10-12-2024

https://www.youtube.com/watch?v=exyk98RI0RE

“Tidbits From TNT” Monday Morning 10-14-2024

TNT

Tishwash:  Iraq Accelerates Fiber-Optic Roll-Out

Iraq has increased the rate at which it is installing fiber-optic internet connections.

The Ministry of Communications reports that more than 3.5 million FTTH (fiber-to-the-home) connections have been complete so far in 2024.

This compares to 2.9 million last year, 1.5 million in 2022, and 276,000 in 2021.

(Source: Ministry of Communications)   link

Tishwash:  Governor of the Central Bank of Iraq receives the Ambassador of the Federal Republic of Germany to Iraq

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received Her Excellency the Ambassador of the Federal Republic of Germany to Iraq, Ms. Christiane Homann.

During the meeting, they discussed banking relations, enhancing the financial inclusion plan in Iraq, and the importance of digital transformation, in addition to providing full support to Al-Riyada Bank for financing small projects, which will launch its services soon.
His Excellency the Governor stressed that there is a great desire among citizens to use electronic cards, which enhances electronic payment in Iraq, as the Central Bank of Iraq has taken many steps in this direction in coordination with the relevant authorities.

His Excellency explained that Al-Riyada Bank will provide its services to an important segment of customers, as it aims to provide support to emerging small and medium enterprises, as it will be a bank different from other banks through its unconventional products that will contribute to creating job opportunities for various social groups in society, and open new horizons in a stable investment environment, noting that there will be representative offices in most Iraqi banks to facilitate customers' access to it and benefit from its services.

The plan to reform the government and private banking sector was reviewed with direct support from the Prime Minister to achieve a stable, secure and efficient sector.

For her part, the German Ambassador expressed her country's readiness to provide advice and technical support for such important projects that support the common goal of diversifying the Iraqi economy.

Central Bank of Iraq
Media Office
October 14, 2024  link

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

Tishwash:  Pursuing Reform: Q&A With Iraq’s Central Bank Governor Ali Muhsen Al-Allaq

October 10, 2024

The governor of the Central Bank of Iraq, Ali Muhsen al-Allaq, speaks to Global Finance about the main challenges and top priorities for the bank.

Global Finance: Iraq went through decades of wars and crises. How did that impact the Iraqi banking sector?

 Ali Muhsen al-Allaq: The banking sector faced severe headwinds starting with the Iraq-Iran war of 1980-1988, which damaged the country’s financial stability and the banks’ ability to service internal debt. With the 1990’s crisis and the Kuwait war, the dinar’s value then collapsed on the parallel market. That created a major challenge for banks in settling deposits and loans, ultimately undermining public confidence in the banking system.

More recently, the fall of the former regime coupled with terrorism, the war against the Islamic State, and ongoing security and political unrest directly impact banks’ ability to attract savings. In times of uncertainty, particularly during displacement in war-torn areas, individuals tend to hold onto cash.

On the other hand, Iraq’s isolation from the rest of the world, starting in the 1990s, resulted in a large technological gap. This is particularly true of state-owned banks, which inherited problems from previous decades. They find themselves unable to keep up with the recent challenge of building a solid private sector to help diversify the economy.

GF: What is the top priority for the Central Bank of Iraq currently?

Al-Allaq: Our primary objective is to maintain price stability while also promoting sustainable development. The CBI is continuously trying to balance its economic responsibilities in light of the inflationary waves currently impacting the global economy, which have a severe impact on the cost of living for low- and middle-income households. Given Iraq’s reliance on imports, the CBI works hard to stabilize prices by controlling liquidity levels. The central bank also supports economic growth by financing projects that stimulate local production and reduce imports. Finally, the CBI also drives banking sector reform and promotes financial inclusion through electronic payments to deepen the overall level of banking services in Iraq.

GF: What are the main challenges facing the central bank?

Al-Allaq: Iraq’s delay in keeping pace with technology, due to prolonged security and political crises, has made banking sector reform a top priority for us. Because reform takes time, we have set the stability of exchange rates as a first, and very challenging, intermediate goal. The ongoing crises have eroded public confidence in the banking sector, reducing the impact of action on interest rates on the real economy—a crucial tool for all central banks, especially during inflationary periods.

Additionally, the low level of financial depth, the prevalence of an unregulated small and midsize enterprise [SME] network and the heavy reliance on the oil sector exacerbate structural imbalances. That makes our country vulnerable to external shocks, leading to increased budget deficits and rising internal public debt, all of which further weaken the impact of monetary policies on the real economy

GF: The Iraqi banking sector is under international scrutiny, with concerns that some countries sanctioned by the United States access US dollars through Iraq. How do you combat fraud and money laundering?

Al-Allaq: The central bank is striving to strengthen Iraqi lenders through various measures including intensified controls, procedures and inspections targeting banking and non-banking financial institutions, and the establishment of an AML/CFT and a compliance office in Baghdad. To ensure a high level of compliance with global regulatory standards, we also contract with specialized international companies to pre-audit foreign transfers, restrict the delivery of US dollars to travelers at Iraqi airports and conduct enhanced internal processes regarding all transactions in foreign currencies.

GF: How can the Central Bank of Iraq help diversify Iraq’s economy?

Al-Allaq: One of our primary goals is to promote sustainable development by supporting bank liquidity and directing it toward private sector projects. In 2015, the CBI launched two key initiatives: the One Trillion Initiative to finance small and midsize enterprises through commercial banks, and the Five Trillion Initiative to fund large projects via specialized banks. These efforts have expanded to include a one trillion dinar [$770 million] initiative for renewable energy, aimed at addressing our country’s electricity challenges and climate concerns.

These initiatives are designed to develop the non-oil sector and drive economic diversification. As a result, non-oil GDP grew by 4.4%, reaching 87.7 trillion dinars in 2023, driven by growth in manufacturing, construction, trade and services. Additionally, the central bank’s National Strategy for Bank Lending has further supported economic diversification by organizing funding for private sector projects  link  

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

Prime Minister's Advisor: Implementation of the 2024 budget is proceeding smoothly

The Parliamentary Finance Committee is expected to discuss the 2025 budget next November, amid a general trend to pass it easily and not amend it significantly, while the Prime Minister's Advisor for Financial Affairs, Dr. Mazhar Muhammad Salih, stated that the 2024 budget that entered into force had a "precautionary deficit" of about 64 trillion dinars.

Salih said, in an interview with "Al-Sabah": The average Iraqi oil sales for 2024 were estimated at no less than $75 per barrel, noting that the general financial need for "bridge loans" (which are short-term loans) to address the possibility of a deficit may not exceed 10 trillion dinars in all cases, which are borrowing amounts permitted under Law No. 13.

The financial advisor added that the country's "financial life" in 2024 is proceeding smoothly, wondering, otherwise how did the Ministry of Finance issue 2024, in cooperation with the Central Bank of Iraq, "achievement bonds" for public subscription.

Saleh explained that these bonds are denominated in Iraqi dinars and come in multiple categories, including a category of 500,000 Iraqi dinars for two years with an annual return of 6.5%, indicating that these bonds are a safe investment, as the government is committed to paying the annual interest on them, and they are an integral part of bridging the deficit in the general budget for the year 2024, which means that they will come into effect.

In turn, economic researcher Ziad Al-Hashemi warned in an interview with “Al-Sabah” that the 2024 budget is facing pressures in terms of limited liquidity, noting that this has caused the government to be unable to spend the capital or investment budget, and to direct liquidity exclusively towards the operating budget.

Al-Hashemi continued that this mechanism has disrupted the implementation of the government’s development and service programs and has significantly disrupted them, expecting the deficit in the 2025 budget to increase with the decline in oil prices, below $70 as a result of the decline in global demand for oil.

He expected that it would cause financial hardship and a weakening of the ability to spend if the decline in oil revenues continued for periods exceeding two quarters, indicating that the hardship might force the government to return to borrowing internally and externally, in the hope that oil prices would rise again in the near future. link

Mot: .. Can You Feel it!!!??? --- Hmmmmmmm 

Mot: ... Ya all Ready fer Monday!!!??? 

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 10-13-24

Good Afternoon Dinar Recaps,

RIPPLE NEWS: CAN THE SEC STOP XRP ETFS?

Ripple’s Chief Legal Officer, Stuart Alderoty, announced on X that the company has filed a cross-appeal in its legal case against the U.S. Securities and Exchange Commission (SEC).

This action follows the SEC’s appeal last week to the U.S. Court of Appeals, which seeks to overturn parts of District Judge Analisa Torres’ ruling related to XRP.

Legal expert James Murphy aka MetaLawMan recently opened up about the status of the XRP Trust and its implications for the broader cryptocurrency market, especially concerning regulatory challenges posed by the SEC.

In an interview with Thinking Crypto, when asked if the SEC’s appeal might hinder these approvals, James expressed concern that the SEC could use the existing uncertainty as a reason to deny the XRP ETP (Exchange-Traded Product). He said that for an ETF to be approved, the asset must qualify as a commodity, which complicates the situation for XRP.

Uncertainty Surrounding Approvals
James believes that the SEC might feel pressured to deny these products, citing that there is still uncertainty in the market. He suggested that the SEC could drag out the process, possibly prompting further legal challenges similar to past scenarios with Bitcoin.

James pointed out that a change in SEC leadership could lead to a more favorable environment for crypto-related products. He referenced a recent hearing where the commissioners appeared open to Congress updating legislation, contrasting this with SEC Chair Gary Gensler’s evasive responses.

Public Sentiment Towards Gensler
James criticized Gensler’s performance during the hearing, expressing eagerness for a change in leadership. He said that candidates from the Trump camp could potentially replace Gensler, opening the door for more innovation in the crypto space.

Fair Notice and Regulatory Clarity
During the hearing, the concept of “fair notice” was stressed, explaining the need for clear rules in regulatory practices. James stressed that a transparent legal framework is essential for compliance, asserting that the current ambiguity undermines the rule of law.

@ Newshounds News™

Source:  CoinPedia

~~~~~~~~~

US GOVERNMENT PAYS $950,000,000,000 IN INTEREST ON NATIONAL DEBT IN JUST ONE YEAR, SAYS CONGRESSIONAL BUDGET OFFICE

The US government just spent nearly $1 trillion to service the interest on its rapidly growing national debt.

Data from the Congressional Budget Office (CBO) says the government ran an approximately $1.8 trillion budget deficit for the 2024 fiscal year, which ended on September 30th.

The government collected $4.918 trillion in revenue last fiscal year but spent a total of $6.752 trillion.

All in all, outlays for interest on public debt were the second-largest US government expense last fiscal year, just behind the estimated $1.448 trillion allocated to Social Security benefits.

News of the US government’s large budget deficit for the last fiscal year comes as the country’s national debt balloons to $35.693 trillion.

Adam Kobeissi, founder and editor-in-chief of The Kobeissi Letter says the nation’s public debt is significantly outpacing economic growth.

“US public debt has jumped $345 billion over [a three-day period], hitting another record of $35.7 trillion.

Since June 2023, federal debt has surged by a MASSIVE $4 trillion, or 14%. Over the same time period, US GDP is up just $1.5 trillion, or ~6%.

In other words, the national debt has outpaced the economic growth by 2.7 TIMES over the last 16 months. Outside of the pandemic crisis, US federal debt has never grown so rapidly.”

@ Newshounds News™

Source:  DailyHodl 

~~~~~~~~~

NATIONAL BANK OF BAHRAIN LAUNCHES BITCOIN-LINKED STRUCTURED PRODUCT

The National Bank of Bahrain (NBB) unveiled the Gulf’s first Bitcoin-linked structured product developed in partnership with crypto firm ARP Digital. The investment is only available to accredited investors. Structured products invariably include derivatives and are often customized for investors.

The Bitcoin-linked structured product will allow some returns from a crypto price rise, but the amount its capped. However, the product claims to offer 100% downside protection.

“We are proud to introduce this bespoke structured investment, which blends the appeal of digital asset exposure with the security of capital protection,” said Hisham AlKurdi, Group Chief Executive – Markets & Client Solutions at NBB. “This product underscores our focus on offering our wealth management clients innovative and secure avenues to diversify their portfolios.”

100% Bitcoin downside protection?
If the 100% downside protection sounds too good to be true, it’s probably not. A collar is a classic options strategy. That would involve holding the underlying Bitcoin, and buying a put option at the current price (quite expensive), which lets you sell if Bitcoin’s price falls.

Additionally, it involves selling a call option at the capped return price. The money earned from selling the call option can be used to offset part or all of the cost of the put option. However, we don’t know the precise structure of this particular product.

While NBB is listed on the local stock exchange, two government linked organizations own 55% – the sovereign wealth fund Bahrain Mumtalakat Holding and the Social Insurance Organization that manages Bahrain government pension funds. ARP Digital was founded by a Goldman Sachs veteran.

@ Newshounds News™

Source:  Ledger Insights  

~~~~~~~~~

🌍 SHOULD I LEARN CRYPTO IF OVER 60?  WHY?  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

More News, Rumors and Opinions Sunday Afternoon 10-13-2024

MikeCristo8: Profound Changes Coming on October 22nd

10-12-2024

What macro investors don’t understand about the fiat currency collapse.

Is there will be no price discovery between the fiat dollar and a financial asset (stocks-bonds).

What I mean by the collapse of the dollar is you will go to the bank to make a “dollar” transaction and the bank will tell you we will no longer take your dollars.

Then what?

It is likely that BIG American banks will hold the BRICS unit as part of their foreign currency reserves.

You got the U.S. Treasury shadow bank that will see $100 trillion in foreign dollar reserves that is unwinding now.

These are dollar for oil reserves unwinding.

https://twitter.com/Barchart/status/1844901392512844113

No one understands the profound changes coming on Oct 22nd with the new BRICS global monetary order.

For the sake of humanity itself, The world is ready and must leave the United States and the dollar.

With Turkey and Iran for sure getting admitted into BRICS.

About 70% of the worlds population will be in BRICS.

All the nay sayers have a stake in the dollar not collapsing.

Too bad for them.

Source(s):
https://x.com/MikeCristo8/status/1844910377961964002
https://x.com/MikeCristo8/status/1844914287854354661
https://x.com/MikeCristo8/status/1845152736310067388
https://x.com/MikeCristo8/status/1845208747012129087

https://dinarchronicles.com/2024/10/12/mikecristo8-profound-changes-coming-on-october-22nd/

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

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

Militia Man    Article:  "The Minister of Finance stresses the need to adhere to the timetables to achieve economic reforms" This cooperation...goes far beyond Iraqs borders...The World Bank, the IMF, the Bank of International Settlements, the WTO,  United States Treasury, etc....all have reached agreements with respect to Iraqs reforms and sustainability towards economic growth...It shows the aforementioned entities...know what Iraq's reforms will mean to the world and the impacts it will likely bring to many nations of the world! ...They are now openly making sure they are on record in saying so..

Frank26   Question:  "The exchange rate change should be the next step before the lower notes and everything else right?"  The next step is to introduce the lower notes and the new exchange rate yes.  But in that process it's a chain of events - Picture a room with 100 mouse traps...if you throw one ping pong ball in that room...one mouse trap will cause a chain reaction...to fire off.  That is what's going to happen when you have the new exchange rate introduced to the world...

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

TNT:

Tishwash:  Parliamentary Finance: Non-oil budget revenues will reach 30 trillion dinars next year

The Parliamentary Finance Committee expected, on Sunday, that non-oil revenues in the 2025 budget would reach 30 trillion dinars, represented by electricity collection, taxes, and revenues from the Baghdad Municipality and all municipal departments. 

Member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, told Shafaq News Agency, "The Parliamentary Finance Committee held a meeting today, in which it hosted the Minister of Finance, Taif Sami, the heads of the tax and customs authorities, and the general managers of the Ministry of Finance, to discuss the general budget law and oil and non-oil financial revenues."

He added, "Oil revenues are settled, but as for non-oil revenues, it has been emphasized that government departments should be activated, including electricity in the field of collection, the Baghdad Municipality, and other municipal departments, in addition to the services provided to tax committees, border crossing revenues, customs, and others that would increase non-oil revenues."

He explained that "the activation of non-oil revenues was mentioned in the government program but was not implemented. What is expected in 2025 is that oil revenues will be 120 trillion dinars, while non-oil revenues will be 30 trillion dinars, which includes customs revenues, taxes, electricity collection, and services provided by the government." link

Iraq: Let's Talk Iraqi Stock Market & Your IQD Investment

Edu Matrix:  10-13-2024

Iraq: Let's Talk Iraqi Stock Market & Your IQD Investment—This is one way we may get a return on our investment with or without an RV.

Iraq is putting $3 billion into the Iraqi Stock Exchange, which will be tied to NASDAQ. We hope that we will be able to invest in Iraqi stock using a financial advisor.

https://www.youtube.com/watch?v=MS6b5-EIEvw

Seeds of Wisdom RV and Economic Updates Sunday Morning 10-13-24

Good Morning Dinar Recaps,

US SHARE OF WORLD ECONOMY PROJECTED TO REACH HISTORIC LOW

The U.S. share of the global economy has fallen below 15% during President Joe Biden’s term, according to Sputnik’s analysis of World Bank and International Monetary Fund (IMF) data. Once peaking at over 21% in 1999, the U.S. has seen a steady decline, with China now commanding a larger share at 18.76%. This downward trend has persisted through recent administrations, underscoring shifts in global economic power.

US Global Economic Share Drops Below 15% Under Biden
The U.S. share of the global economy has fallen below 15% during Joe Biden’s presidency, according to news outlet Sputnik’s analysis of World Bank and International Monetary Fund (IMF) data. By the end of Biden’s term, projections suggest it could reach a historic low of 14.76%.

Back in 1990, the U.S. held a 20.16% share of the global economy based on purchasing power parity (PPP), which peaked at 21.01% in 1999 when its output was $9.6 trillion out of a global $45.85 trillion. Since then, the U.S. portion has seen a gradual decline, with a notable drop from 2006 to 2008, when the share decreased by 0.6% annually.

Although the U.S. saw a brief recovery during Barack Obama’s second term, with the share reaching 16.26% in 2014 and 2015, the momentum was not maintained. By the end of Obama’s presidency, the share had dipped to 16.04%, and it continued to shrink by another 0.7% during Donald Trump’s administration.

By the end of 2023, the U.S. share dropped to 14.82%, down from 15% during Biden’s second year. IMF estimates project a further decline of 0.06% by the end of 2024, bringing the total decrease under Biden to 0.58%, with the share at 14.76%, the news outlet detailed. 

In contrast, China’s share of the global economy has grown to 18.76%, while Japan’s share has decreased by 4.33% since 1990.

@ Newshounds News™

Source:  Bitcoin News

~~~~~~~~~

RIPPLE SCORES BEST CROSS-BORDER PAYMENT PLATFORM AWARD AS XRP STRUGGLES

▪️Ripple was awarded the “platinum winner” status for the Best Cross-Border Payments Platform at the Fintech & Payments Awards 2024.

▪️The award could increase the demand for XRP despite the price decline in the recent past.

San Francisco-based blockchain company Ripple has clinched the ‘Best Cross-Border Payments Platform—platinum winner’ in the Fintech & Payments Awards 2024.

This recognition comes from Juniper Research, a reputable industry analysis firm that specializes in fintech and new technologies. Despite the recent volatility in the price of its associated cryptocurrency, XRP, Ripple remains a leader in cross-border payments.

This recent accolade is not the first time that Juniper Research has recognized Ripple. In 2023, the firm was rewarded for its efforts in Central Bank Digital Currency (CBDC).

This recent recognition comes in the wake of other recognitions that have placed Ripple strategically positioned to compete with other companies offering cross-border payment solutions.

Award Potentially Boosts XRP Despite Recent Price Dip
 In response to the announcement on X,  Ripple said that it was honored to be recognized for its work in the fintech and payment industries. It is important to note that Ripple uses blockchain to solve issues typical for cross-border payments, including time and money.

The award can also positively impact Ripple’s native token XRP as the token is a key part of the company’s payment solution. The general adoption of Ripple technology may create a high demand for XRP, which will, in turn, affect its price.

However, there have been some price fluctuations lately. For instance, XRP went below $0.54 due to legal problems with the SEC, but the company’s technological developments might help the token’s value in the future.

Other winners of the Fintech & Payments Awards include SAP Fioneer for banking as a service and Signicat for digital identity services. These companies, together with Ripple, are part of the new generation of companies that are revolutionizing the way of managing payments, identification, and banking services.

Additionally, in the field of fraud prevention, Visa and Fraud.net were identified as leaders for their work to strengthen security in digital payments.

Ripple Expands its Global Presence
In addition to the Juniper Research award, Ripple has been growing in the Latin American market. Ripple has further cemented its position within the Brazilian market through a new partnership with Mercado Bitcoin, the largest cryptocurrency exchange in Latin America. The partnership seeks to improve cross-border payment services in Brazil with the help of its blockchain technology.

It also enhances the speed and reduction of costs in international transactions for companies that use Brazilian Reais. Mercado Bitcoin is the first Brazilian company to join Ripple Payments.

Besides the shift to Brazil, the company was recently approved by the Dubai Financial Services Authority (DFSA) to operate within the Dubai International Financial Centre (DIFC).

This is a boost for Ripple as it seeks to expand its business within the UAE. The introduction of Ripple Payments Direct (RPD) is designed to offer faster, safer, and legally compliant cross-border transactions to companies in the UAE.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

ARKHAM INTELLIGENCE PLANS TO LAUNCH A DERIVATIVES EXCHANGE NEXT MONTH: REPORT

Arkham’s new derivatives exchange will attempt to compete with giants such as Binance for retail investors.

However, it will not be available for customers in the United States.

Arkham Intelligence, the firm behind the blockchain data tracking platform Arkham Intel, intends to launch a crypto derivatives exchange in November, Bloomberg reports citing a person familiar with the matter.

The new derivatives exchange will attempt to compete with giants such as Binance for retail investors, but it will not be available for customers in the United States, Bloomberg adds.

Arkham will also relocate its business and new derivatives exchange to the Dominican Republic from London and New York, and the company is in the process of obtaining the necessary free-trade zone license.

In July, Arkham CEO Miguel Morel said the firm would explore ways to monetize the platform sometime in 2024 but would keep core functions free.

Arkham remains one of the most popular crypto data and research platforms, having amassed nearly 84,000 new X followers between Sept. 30 and Oct. 7, according to The Block's Data Dashboard.

@ Newshounds News™

Source:  The Block

~~~~~~~~~

SOUTH AFRICA'S TAX AGENCY ADDS CRYPTO TO COMPLIANCE PROGRAMS

The South African Revenue Service (SARS) has announced plans to include crypto assets in its tax compliance programs. SARS is seeking information on crypto users and is increasing its efforts to identify and audit non-compliant taxpayers. 

The revenue collector urged taxpayers concerned about compliance to participate in the Voluntary Disclosure Program, but those already under audit will be ineligible. SARS has emphasized the consequences of willful tax evasion and stated its commitment to pursuing all non-compliant taxpayers.

SARS Aims to Streamline Crypto Tax Compliance
The South African Revenue Service (SARS) announced plans to include crypto assets in its compliance programs. The revenue collector is seeking information on crypto users from the Financial Sector Conduct Authority (FSCA) and crypto asset service providers.

SARS stated on October 9 that it felt compelled to take this step after noticing that taxpayers were not declaring crypto assets and trades in tax returns. According to the statement, South African law requires SARS to account for all income and assets, including cryptocurrency. 

This understanding is thought to have prompted the revenue collector to initially request voluntary declarations from entities dealing with crypto.

However, in its latest remarks on the issue, SARS stated it is working to simplify compliance for taxpayers and traders. At the same time, the revenue collector emphasized the consequences of willful tax evasion. To achieve this, SARS said it has bolstered its audit teams and resorted to using the latest technologies.

“SARS has resorted to greater use of artificial intelligence, machine learning and algorithms to process our work. In implementing our mandate, SARS has recently issued query letters to taxpayers with crypto assets.

These letters aim to gain insight into taxpayers’ investment in crypto assets and the trades undertaken to enable SARS to assess taxpayers’ compliance in this regard,” said South African revenue collector said.

South Africa Issues Warning to Non-Compliant Crypto Traders
Meanwhile, the revenue collector has encouraged South African taxpayers concerned about compliance to participate in the Voluntary Disclosure Program (VDP). However, SARS warned that taxpayers identified for audit will be ineligible for the VDP.

SARS Commissioner Edward Kieswetter stated that technology has significantly improved the revenue collector’s ability to identify non-compliant taxpayers. He added, “SARS will pursue all without fear, favor, or prejudice.”

@ Newshounds News™

Source:  Bitcoin News

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

News, Rumors and Opinions Sunday AM 10-13-2024

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 Sun. 13 Oct. 2024

Compiled Sun. 13 Oct. 2024 12:01 am EST by Judy Byington

Judy Note: (RUMORS) On October 24 and 25, every cell phone on the planet will be hit with a loud, unmistakable alert signal. The signal will be transmitted directly from Starlink satellites, bypassing traditional media channels that are controlled by the elites.

The Earth Alliance, Starlink, and the military are all in place, ready to execute the final phase of this plan. The old world is crumbling, and a new era of freedom is about to begin. The Earth Alliance has been preparing for this for years, quietly building a network of satellites and secure communication lines that will make this operation possible. Starlink

The EBS alert will be initiated globally but will be activated in phases. Depending on where you are, you may receive the alert slightly earlier or later than others, but make no mistake—it is coming.

The EBS broadcast will last up to 10 days depending on the situation on the ground. During this time, there will be no internet access, no social media, no TV, and no mainstream news.

Stock up on food, water, and essential supplies. Have backup power sources ready. You won’t be able to go to the store or access online services during this time.

The DeepState’s financial institutions will crumble, and the Quantum Financial System (QFS) will officially take over, marking the beginning of the greatest wealth transfer in human history. The elite-controlled banks, stock markets, and fiat currencies will be obliterated, replaced by a fair and transparent financial system that serves the people, not the elites.

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

Global Currency Reset:

On 14 Oct. 2020 the UNITED STATES CORPORATION COMPANY (allegedly) filed a Chapter 11 (involuntary) bankruptcy in the Northern District of Florida Bankruptcy Court Case #20-40375.

On Wed. 9 Oct. 2024 BRICS 12 Countries Ditched US Dollar and will now pay trade in local currencies: https://watcher.guru/news/brics-12-countries-ditch-us-dollar-pay-85-trade-in-local-currencies

Sat. 12 Oct. 2024 Wolverine: “From all sources, this is the week we have been waiting for. Things are defiantly moving.”

On Mon. 14 Oct. 2024 at the BRICS Summit they are (allegedly) going to announce the Seven Kingdoms, along with the Global Currency Reset.

Mon. 14 Oct. 2024 the old banking system—Bank of America, Deutsche Bank and JP Morgan— was expected to collapse, with the QFS taking over as stock markets crash.

Wed. 16 Oct. is a designated celebration day for Iraq and the day they will (allegedly) pay their contractors in the new Dinar Rate.

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

Global Financial Crisis:

Sat. 12 Oct. 2024: BRICS: These 40 Countries Want To Ditch the US Dollar! VIDEO – amg-news.com – American Media Group

Sat. 12 Oct. 2024: Operation Sandman is a collaboration of 100+ nations in agreement to simultaneously sell off their US Treasury holdings, sending them back to the US to collapse the US Dollar. https://x.com/danscavino/status/1845139034601030143?s=46

Sat. 12 Oct. 2024: 7 Eleven is closing hundreds of store locations across North America due to underperformance.

Read full post here:  https://dinarchronicles.com/2024/10/13/restored-republic-via-a-gcr-update-as-of-october-13-2024/

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

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

Militia Man   Article Quote:   "There's been a completion of the first steps of the banking reform process."     In my view the next phase should introduce new currency denominations.  If they're going to have 3 zeros removed as Alaq said, you're going to need new denominations.  They never have had a three zeros exchange rate to be supporting the global financial system.  They haven't done that in 21 years so why now?  They never will as far as I'm concerned...they're never going to be the savior of anything at 1310.

Bruce   [via WiserNow]  ...we heard...let's see the 16th, which would be Wednesday, is the day that Iraq is paying all of their contractors and paying any back pay that they need to pay...And it's also the day, Wednesday the 16th, the day of celebration in Iraq for this RV and their new rate on the dinar, etc.  So it looks like our start date would be Wednesday the 16th, but it could be actually, that we would start on Tuesday. I know we're supposed to get notified on Tuesday whether we start exchanges or not. We'll have to see, but the whole thing is lining up beautifully...I'm excited about the timing...

X22 Report Streamed on: Oct 12, 10:30 am EDT

Today’s Guest: Bix Weir

Website: Road To Roota   http://roadtoroota.com

Bix begins the conversation talking about the economy. The [CB] are destroying their old system and the good guys are preparing and ready to bring in the new system. The system will be moving back to sound money and the constitution, the control of the creation of currency will taken away from the [CB]. It will be bumpy so buckle up and get prepared.

https://rumble.com/v5if0hh-bix-weir-the-good-guys-are-about-to-change-the-economic-system-buckle-up-it.html?e9s=src_v1_ucp

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

Consumer Debt Crisis - ANOTHER GREAT DEPRESSION? (John Rubino)

Sachs Realty:  10-12-2024

Americans are enslaved to debt! With the cost of living at unsustainable levels and loan delinquencies on the rise, will we see another Great Depression in the United States?

https://www.youtube.com/watch?v=kCV_Yoie5OI

“Tidbits From TNT” Sunday Morning 10-13-2024

TNT:

Tishwash:   Parliament discusses budget law with Finance Minister, Customs and Tax officials

Today, Sunday, the Parliamentary Finance Committee hosted: Minister of Finance Taif Sami, Chairman of the General Authority of Customs Hassan Al-Akeili, Chairman of the General Authority of Taxes Waad Al-Alawi, and Director of the Budget Department at the Ministry of Finance Wasan Saad.

The hosting witnessed a discussion of the Iraqi state’s general budget law, financing projects in the governorates, and enhancing non-oil financial revenues through customs and taxes   link

Tishwash:  "Autumn" economic recession in Iraq.. and a government advisor explains the reasons

A government advisor revealed that Iraq is going through a “seasonal economic recession.”

 The financial advisor to the Prime Minister, Mazhar Mohammed Saleh, told {Al-Furat News}: "The fluctuation of the dollar exchange rate in the parallel market has nothing to do with the phenomenon of seasonal recession that the markets are currently witnessing."

He explained that "the recession in demand comes after the high peak of sales that preceded the current school season and the end of most major religious and social occasions, in addition to the entry of the fall season, which is the end of the summer season, that abundant season in agricultural production and marketing." 

Saleh explained, "In all cases, there is a recession in demand or a recession in seasonal economic activity, which is a phenomenon that occurs when economic activity declines during a certain period of the year as a result of seasonal factors."
He continued, "This recession can occur in different sectors such as tourism, agriculture, or retail sales, and is often affected by natural factors such as weather, religious occasions and holidays, or changes in demand patterns from one season to another."

Saleh believed that this recession "will take such a seasonal change, a few weeks until the entry of winter for economic activity to begin interacting in this short-term economic cycle."  link

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

Tishwash: Postponement of the "Iraq Investment Forum" for this reason

The committee in charge of preparing and supervising the (Iraq Investment Forum) announced the postponement of the date of the forum, which was scheduled for November 2-3, to another date that will be determined later, due to the tense and unstable political and security conditions witnessed by the region at the regional and international levels, which negatively affects the holding of all local, Arab, regional and international economic activities and events.  link

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

Tishwash:  Minister of Industry inaugurates Baghdad Industry and Mining Forum

Minister of Industry and Minerals Khaled Battal Al-Najm inaugurated the Baghdad International Forum for Industry and Mining, which is organized by the ministry under the patronage of the Prime Minister over two days under the slogan (Mining is Sustainable Development ... and Safe Investment).

The minister stressed in a speech in which he opened the forum that the Ministry of Industry and Minerals is proceeding with confident steps and a firm determination to achieve the goals of the government program and its drawn vision, the most important axes of which are achieving a real partnership between the public and private sectors and opening the way for local and foreign partners to invest in strategic industries and other industries, noting that this forum will witness the presentation and announcement of (135) investment opportunities and projects for partnership with the ministry's companies in the field of mining and various industrial fields.

He added: "We have started with tangible practical steps to activate the mining sector by conducting geological surveys of the country by specialized international companies and using the latest technologies.

He continued that achieving a real industrial renaissance in the country requires a set of success factors, the most important and first of which are energy, specifically gas and electricity.

He pointed out that the Ministry of Industry cannot achieve its set goals without everyone's cooperation and understanding of the requirements for achieving those goals.

He explained that the Ministry of Industry and Minerals, according to its law and duties, takes into account the private industrial sector by facilitating the work of this sector and overcoming the obstacles facing industrialists in medium, small and even micro-enterprises. He explained

that a day or more has been allocated per month to work in the Iraqi Federation of Industries with the technical staff in the ministry to listen directly to the problems of industrialists and support the private industrial sector in a way that reflects on the economic and developmental reality of the country. He indicated that the current reality requires us to invest in developing our local industry in a way that keeps pace with technological transformations. And the global economy.

He stressed that Iraq has all the ingredients that qualify it to be a major player in the industrial sector, starting with human competencies and labor force and ending with the provision of natural resources.

He pointed out that our strategy and work plan are based on strengthening the industrial infrastructure in cooperation with other sectoral ministries, improving the investment environment and encouraging industries.

He pointed out to working to build strategic partnerships with solid international companies to transfer technology and localize knowledge in a way that enhances our ability to compete in local and regional markets.

The forum was attended by Minister of Labor and Social Affairs Ahmed Al-Asadi, a number of representatives, government officials, ambassadors, and a large gathering of businessmen, investors and representatives of local, Arab and foreign private sector companies.

The forum aims to establish real industrial partnerships between public companies and the private sector, as it will include various axes and activities, including holding dialogue sessions on industrial partnerships, privileges and legislation in creating an attractive environment and opportunities for investment, in addition to presentations of available investment opportunities and projects and introducing them from a technical point of view, as well as other paragraphs and activities. link

Mot: . can you tell 

Mot:  . Crafty she is!!! 

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 10-12-24

Good Afternoon Dinar Recaps,

STABLECOIN LIQUIDITY IS INCREASING, WHAT DOES THIS MEAN? (CRYPTOQUANT)

Rising stablecoin liquidity could lead to increasing prices for crypto assets. Here’s why.

Stablecoin dynamics are flashing positive, reaching record highs and boosting liquidity within the crypto market. As historical data shows, this is good news for bitcoin (BTC) and the entire crypto industry because more liquidity often correlates with higher prices.

A recent CryptoQuant report revealed that the total market capitalization of major USD-backed stablecoins now stands at $169 billion, representing a 31% or $40 billion increase since the beginning of the year. This growth caused liquidity in the crypto market, as measured by stablecoin value, to reach a record high in late September.

Stablecoin Liquidity is Increasing
The increasing liquidity can be seen in higher stablecoin balances on centralized exchanges. Tether USD (USDT), which continues to dominate the stablecoin market, has been the major driver of this growth.

The total USDT (ERC20) balances on centralized exchanges hit a record high of 22.7 billion this month, growing by 54% or $8 billion year-to-date.

CryptoQuant also noted that roughly $8.5 billion USDT issued on the Tron network is currently held on centralized exchanges, which is a good sign.

“Larger balances of stablecoins on exchanges are positively correlated with higher Bitcoin and crypto prices,” the market analytics platform stated.

This bull cycle started in January 2023, and since then, the total amount of USDT (ERC20) on centralized exchanges has grown from $9.2 billion to $22.7 billion, a whopping 146% increase.

The dominance of USDT has led the asset to amass a 71% share of the stablecoin market, with its closest rival, USD Coin (USDC), following with 21%. USDT’s market cap is nearing $120 billion, up 30% or $28 billion since the beginning of 2024, while USDC has a cap of $36 billion, representing a 44% or $11 billion growth year-to-date. CryptoQuant said USDT and USDC have accounted for almost all the net stablecoin growth recorded this year.

A Potential Bitcoin Rally
Interestingly, USDT and USDC have continued to increase monthly, although slower than earlier this year. An increased pace in the monthly growth of these assets’ market caps could signal a new rally for BTC and crypto prices, especially since the leading cryptocurrency has been flat.

While USDT and USDC continue to dominate, new players are emerging. Ripple Labs, the developer of the XRP Ledger, recently launched a USD-backed stablecoin, RLUSD. Since late September, RLUSD has already amassed a market cap of $47 million, and analysts say the asset has the potential to grow significantly.

@ Newshounds News™

Source:  CryptoPotato

~~~~~~~~~

RIPPLE: FORMER EXECUTIVE EXPLAINS WHY XRP IS SUPERIOR TO BITCOIN

Despite the dominance of the leading cryptocurrency, one former Ripple executive has recently explained why he believes XRP is superior to Bitcoin. 

Specifically, Matt Hamilton, the former director of Developer Relations at RippleX, discussed the facets that edge out XRP when compared to the much more popular BTC.

The year has been a vital one for cryptocurrencies, and mostly because of the continued rise of Bitcoin. Yet, there are many in the industry who believe that the asset may not fare well when compared to its technological counterparts. The question is, does XRP really have an advantage over the industry’s leader?

Ex-Ripple Executive Highlights Why XRP is Better Than BTC
Throughout 2024, Ripple and Bitcoin have had very different years. Where the latter became the first crypto-based ETF to be approved by the US Securities and Exchange Commission (SEC), the agency has reengaged in its years-long legal battle with Ripple. 

The two tokens appear to be in completely different positions, yet one expert has a strong opinion on which could be perceived as better.

Former Ripple executive Matt Hamilton has recently discussed the ways in which he believes XRP is superior to Bitcoin. Speaking during a recent podcast appearance, Hamilton did not mince words when comparing the two. Specifically, he noted there are reasons why Bitcoin has some key drawbacks, and XRP could eventually reach a mass audience.

Hamilton noted that XRP has a massive scalability advantage to BTC. The leading crypto (BTC) has a low throughput, which works against mass adoption hopes. With a network that can only handle as much as 10 transactions, large-scale, cross-border payments would not be possible under BTC.

Interstingly, Hamilton said that if Bitcoin was the world’s only currency for transactions, a person would only be able to make two transactions throughout their lifetime due to the scalability concern. Although it has addressed the issue, it is far behind the competition.

The XRP Ledger (XRP:) can handle mass transactions. The network throughput increased from 1,500 TPS to 3,400 TPS in the last year. Moreover, that coincides with Hamilton’s second key defense of XRP’s superiority: transaction costs.

s urged policymakers to adopt sandbox-based frameworks to enhance regulatory clarity for DeFi innovations and address key risks.

This week, the World Economic Forum (WEF) backed a “sandbox-first approach” for DeFi adoption, urging regulators to use regulatory sandboxes to build innovation and manage risks in DeFi.

In other news, IDA Finance announced its integration with Chainlink’s blockchain services for its upcoming HKDA stablecoin, aiming to improve transparency and security in cross-chain operations.

WEF backs “Sandbox-first approach” for DeFi adoption
The World Economic Forum (WEF) has urged regulators and policymakers to conduct DeFi-related innovations and experiments with regulatory sandboxes.

The statement from the WEF aims to focus on risk mitigation and the assurance of transparency to create a tailored approach to DeFi’s regulation.

In its assessment of nine economies worldwide, the WEF identified this need for countries like the United States, the United Kingdom, Japan and the United Arab Emirates.

The WEF said that countries adopting “a nimble, sandbox approach” had shown signs of advancing DeFi innovation by addressing inherent risks in the DeFi ecosystem.

IDA integrates HKDA stablecoin with Chainlink for secure cross-chain use
On Oct. 9, IDA Finance, a Hong Kong-based issuer of digital assets, announced that it would be integrating Chainlink’s blockchain services into its forthcoming HKDA stablecoin.

The collaboration aims to improve transparency and security of cross-chain operations by integrating Chainlink’s oracle services into the Hong Kong dollar-backed stablecoin.

As part of the integration, implementing Chainlink’s Proof-of-Reserves (PoR) technology will enable onchain verification of assets backing IDA Finance’s HKDA stablecoin.

By establishing a medium for the monitoring of HKDA’s collateral, the PoR technology will help mitigate risks of insufficient reserves and function to provide credibility and security for holders.

@ Newshounds News™

Source:   CoinTelegraph  

~~~~~~~~~

🌍NEW INDUSTRY BILLIONAIRES  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts    

~~~~~~~~~

🌍 RIPPLE’S XRP INVOLVED IN ANOTHER LAWSUIT  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

 ~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps