Seeds of Wisdom RV and Economic Updates Tuesday Evening 10-29-24
Good Evening Dinar Recaps,
US TREASURY STRATEGY FOR FINANCIAL INCLUSION MENTIONS DIGITAL ASSETS
The United States Department of the Treasury has released its national strategy for financial inclusion, only including cryptocurrencies as a potential risk for consumers.
In an Oct. 29 notice, the US Treasury said its National Strategy for Financial Inclusion in the United States report resulted from a request from Congress and included recommendations to “advance consumer access to safe financial products and services and strengthen financial security.”
Good Evening Dinar Recaps,
US TREASURY STRATEGY FOR FINANCIAL INCLUSION MENTIONS DIGITAL ASSETS
The United States Department of the Treasury has released its national strategy for financial inclusion, only including cryptocurrencies as a potential risk for consumers.
In an Oct. 29 notice, the US Treasury said its National Strategy for Financial Inclusion in the United States report resulted from a request from Congress and included recommendations to “advance consumer access to safe financial products and services and strengthen financial security.”
According to the department, one of its methods of financial inclusion was through research of a “series of publications on consumer activities and risks related to digital assets,” citing a September 2022 report.
According to the US Treasury, the national strategy recommended increasing access to “safe and affordable credit,” improving the inclusivity of financial services and products from the government, and “protecting consumers from illegal and predatory practices.”
National Economic Advisor Lael Brainard credited Vice President Kamala Harris with helping expand “access to capital, credit, and economic opportunity.”
The strategy by the government department suggested that it would not be considering cryptocurrencies like Bitcoin as a means of financial inclusion in the United States.
Though many digital asset advocates recognize the potential risk of crypto investments, the technology has often been touted as a way to level the playing field for individuals who may not always have access to traditional banking.
US election could affect crypto policy in 2025
It’s unclear if Vice President Harris would consider this strategy if she were victorious over Republican Donald Trump in the US election in November. The Democratic candidate has suggested she would support the industry if elected but still expressed concerns over consumer protection.
During his administration, US President Joe Biden issued an executive order establishing a framework for digital assets and instructing government departments to study the ecosystem’s potential impact on consumer and investor protection, financial stability, financial inclusion, responsible innovation, the US’ financial leadership and combating illicit financial activity.
The Treasury Department has been involved in developing policy recommendations for crypto in accordance with the order.
@ Newshounds News™
Source: CoinTelegraph \
~~~~~~~~~
BIS DEBATES ENDING CROSS BORDER CBDC PROJECT MBRIDGE – REPORT
Yesterday Bloomberg reported that the Bank for International Settlements (BIS) is considering whether to shut down Project mBridge, the cross border CBDC payments platform developed in collaboration with the central banks of China, Hong Kong, Thailand and the UAE. In June Saudi Arabia joined at the same time as mBridge launched as a minimum viable product.
Bloomberg cited sources saying the topic was discussed at last week’s International Monetary Fund (IMF) and World Bank meetings. A concern is Russia’s ongoing enthusiasm for developing a similar sounding BRICS Bridge.
At a Group of 30 event in Washington on Saturday, BIS general manager Agustín Carstens was quoted as saying “we cannot directly support any project for the BRICS because we cannot operate with countries that are subject to sanctions — I want to be very clear about that.” Both Russia and Iran are BRICS+ members.
mBridge’s design
mBridge enables commercial banks to make cross border payments via their central banks, using wholesale central bank digital currencies (wCBDCs). The design encourages direct local currency payments, sidestepping the need to use US dollars.
For cross border payments, banks often either use correspondent banks or keep bank accounts (nostro accounts) at the destination, which are expensive to maintain as they tie up capital.
Hence, there are pros and cons with the mBridge design. A key advantage is banks don’t need to keep nostro accounts at the destination or use correspondent banking, saving considerable money.
On the flip side, a key reason for using the US dollar as an intermediate currency is because almost all currencies have their optimal FX rates against the dollar. In other words, local currency payments involve less attractive FX rates, which is why they haven’t taken off in a big way.
There’s some simple math involved here. Currently, there are 180 currencies, each with their best rate against the dollar. That’s 180 currency pairs, with relatively strong supply and demand. So it’s cheaper to go from Thai baht to USD to renminbi, than directly from baht to renminbi.
That’s because the direct local currency route for 180 currencies translates to 16,110 currency pairs. If you spread the supply and demand across 16,110 pairs rather than 180, these are far more thinly traded so you no longer get good FX rates.
An obvious path is to choose an intermediate currency different from the US dollar. Notably, BRICS countries don’t seem keen on that. This FX cost issue is critical to mBridge’s viability, because FX makes up the largest proportion of cross border payment costs, by far. State-owned Chinese companies might feel obliged to use local currencies, but companies in other economies will demand the cheapest path.
China’s role in mBridge
China chairs the mBridge technical working group and developed some proprietary components, including a Chinese blockchain consensus mechanism. The Bloomberg piece was critical about allowing China such an important role in the project.
China’s role is even greater because Hong Kong is involved and the UAE’s central bank representative spent a large part of his career at the Hong Kong Monetary Authority. So three out of the four central banks have strong Chinese ties.
However, the project started as a joint Hong Kong – Thailand initiative, so its location at the Hong Kong BIS Innovation Hub and the involvement of China were natural paths.
However, it’s not surprising the topic is being debated. Ledger Insights featured an opinion piece exploring the BIS dilemma in January. It concluded that if mBridge proves viable, then the central banks are likely to proceed with or without the BIS. Although it depends on their contracts with the BIS.
Since the January post, the BIS has launched Project Agorá, another cross border CBDC project, but one that supports correspondent banking. Unlike mBridge which has two BRICS members in China and the UAE, no BRICS members are involved in Agorá.
At SIBOS last week, two pieces of mBridge news reinforced the existence of this BIS debate around its future. Firstly, there was a surprising discussion about potentially integrating with Swift and even possibly including the dollar in future.
The second piece of news was the plan to open source the mBridge software. On the one hand, this might help to alleviate concerns about the dependence on China. However, it also makes it far easier for sanctioned countries to spin up a version of their own, without involving the BIS.
Should the BIS remain engaged?
In our January opinion piece, we concluded that IF mBridge proves viable, the central banks are likely to continue, with or without the BIS. With open source software, that’s even more probable. However, with the BIS involved, sanctioned countries will be prevented from engaging.
Payments are all about network effects. So if many more countries join mBridge rather than BRICS Bridge, that will support the effectiveness of sanctions and prevent mBridge morphing into BRICS Bridge. It brings the issue into focus: is mBridge about new payment efficiencies, or is it about an alternative to the status quo with the US dollar at the core?
At SIBOS, the former Governor of the People’s Bank of China, Zhou Xiaochuan, noted that “If the U.S. government would like to use the U.S. dollar as a sanction tool, it may reduce the feasibility of other countries to use the U.S. dollar.”
No matter one’s view on Russia or Iran, Governor Zhou’s statement is factual. Whether it’s mBridge or something entirely different, logically there will be strategies to circumvent using the dollar. We’ve reported on Russia iterating through several different paths, many involving crypto or DLT.
However, in the case of mBridge, the genie is already out of the bottle. It’s likely better for the BIS to engage than not.
@ Newshounds News™
Source: Ledger Insights
~~~~~~~~~
🌱 HOW TO HANDLE CRYPTO! BINANCE HAS A CRYPTO WEALTH MANAGER | 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
Flood Insurance Isn't Perfect But You Should Probably Buy It Anyway
Flood Insurance Isn't Perfect But You Should Probably Buy It Anyway
Claire Boston · Senior Reporter Sat, October 26, 2024 Yahoo Finance
Flood insurance can be expensive and have major coverage limitations when disasters strike. But as climate change increases the frequency of extreme weather, it’s becoming essential coverage even for those who don’t live in traditional high-risk areas.
Recent disasters like Hurricane Helene, which severely flooded inland, mountainous parts of North Carolina, and catastrophic rainfall in central Vermont underscore the risks of flooding in areas far from the coasts. Last weekend, record-setting rain in Roswell, N.M., brought flash flooding that killed two people.
Flood Insurance Isn't Perfect But You Should Probably Buy It Anyway
Claire Boston · Senior Reporter Sat, October 26, 2024 Yahoo Finance
Flood insurance can be expensive and have major coverage limitations when disasters strike. But as climate change increases the frequency of extreme weather, it’s becoming essential coverage even for those who don’t live in traditional high-risk areas.
Recent disasters like Hurricane Helene, which severely flooded inland, mountainous parts of North Carolina, and catastrophic rainfall in central Vermont underscore the risks of flooding in areas far from the coasts. Last weekend, record-setting rain in Roswell, N.M., brought flash flooding that killed two people.
In the last 20 years, nearly every county in the US has experienced some degree of flooding, according to the Federal Emergency Management Agency, better known as FEMA. Conventional homeowners insurance offers little to no flood protection, and nationwide just 4% of households carry flood insurance.
That gap in insurance coverage can leave homeowners with catastrophic bills following an unexpected disaster.
“A lot of people think that flood is a covered peril, be it within their homeowner’s policy or their renter’s policy,” said Mark Niess, vice president of private flood at insurer Wright Flood. “There is coverage for water, but there’s not necessarily coverage for flood.”
Flooding is frequently cited as the most expensive type of natural disaster — a single inch of water can cause $25,000 of property damage.
Most flood coverage is provided by the US government’s National Flood Insurance Program, after private insurers exited the market en masse nearly 100 years ago following catastrophic flooding of the Mississippi River.
Homeowners who sit in 100-year floodplains — areas deemed to have a 1% chance of flooding in a given year or a 30% chance over the life of a typical mortgage — are considered “high risk” and are required to have flood insurance if they have government-backed mortgages.
But more and more homes that don’t sit in floodplains are also at risk as the planet warms. Many of FEMA’s flood zone maps haven’t been updated in years, and even those that have been rely on historical storm data and don’t take into account how climate change and an atmosphere that holds more moisture will affect future flooding.
Buncombe County, N.C., which was hit hard by flooding from Hurricane Helene, experienced more than 50 floods between 1996 and 2019, according to FEMA data. But few structures in the county were designated as being in a flood zone, and less than 1% of buildings were covered by NFIP policies.
The lack of insurance is financially devastating. Data provider CoreLogic pegs the total uninsured losses from Helene between $20 billion and $30 billion.
“We know that a lot of things have changed related to how our communities are experiencing flood risk, even just in recent years,” said Anna Weber, a senior policy analyst for environmental health at the Natural Resources Defense Council.
“Not only do we have to update the flood maps so that they are accurately describing current conditions, we also have to look into the future so we understand what we’re going to be experiencing in the decades to come.”
Flood-prone states like Florida, Texas, and Louisiana have the most homes insured under the NFIP, but in states as varied as Massachusetts and Arizona, nearly every county has experienced 50 or more floods between the late 90s and 2019, according to FEMA data.
TO READ MORE: https://finance.yahoo.com/news/flood-insurance-isnt-perfect-you-should-probably-buy-it-anyway-143404822.html
More News, Rumors and Opinions Tuesday PM 10-29-2024
KTFA:
Clare: New details regarding the 2025 budget tables.. Check them out
10/29/2024 Baghdad
The government confirmed that the 2025 budget will remain within the range of 200 trillion dinars, despite the parliamentary finance committee’s demands to reduce it to match the expected financial revenues for next year.
In this context, the Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Salih, explained that "the 2025 budget will remain linked to the constants approved in the Federal General Budget Law for the three years (2023-2024-2025), which was previously submitted by the government and approved by the House of Representatives."
KTFA:
Clare: New details regarding the 2025 budget tables.. Check them out
10/29/2024 Baghdad
The government confirmed that the 2025 budget will remain within the range of 200 trillion dinars, despite the parliamentary finance committee’s demands to reduce it to match the expected financial revenues for next year.
In this context, the Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Salih, explained that "the 2025 budget will remain linked to the constants approved in the Federal General Budget Law for the three years (2023-2024-2025), which was previously submitted by the government and approved by the House of Representatives."
Saleh stated that "next year's budget will include a hypothetical deficit of 64 trillion dinars," indicating that "this deficit is a precautionary deficit that has been approved by law to deal with revenue fluctuations, especially oil revenues, which are affected by changes in global energy prices and the oil asset cycle."
He added that "the total spending ceiling will approach 200 trillion dinars, according to the country's financial and economic conditions."
He pointed out that "the price of a barrel of oil in the three-year budget, which includes the 2025 budget, was set at $70. If the price of oil exceeds this level, this will lead to a reduction in the expected hypothetical deficit in the budget."
************
Clare: Commercial Bank allows buying dollars through Kurdistan airports
10/29/2024 Baghdad
The Commercial Bank of Iraq announced the possibility of purchasing dollars by travelers through the airports of the Kurdistan Region in Erbil and Sulaymaniyah at the official price.
The bank stated in a statement that the traveler must deposit the necessary amounts in Iraqi dinars in one of the branches.
The Commercial Bank of Iraq in Mosul, Erbil, Sulaymaniyah or Dohuk to be able to obtain the dollar at the official price.
He pointed out that "the traveler must have a valid Iraqi passport with a valid visa or residency, in addition to a civil status ID or national card and a valid travel ticket."
He added, "The traveler must pledge not to buy foreign currency from another party in Iraq for a period of one month, and he must be Iraqi and over 18 years old."
According to information, travelers can buy dollars in amounts up to 3 thousand dollars, at the official price of 132 thousand dinars for every 100 dollars. LINK
************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY: TV says Iraq has implemented a new hybrid monetary process. FRANK: A second set of book that uses a different exchange rate!
Militia Man Iraq is losing billions per month... Why aren't they pumping oil out of the Ceyhan? I think that's because they need to value the assets...which is oil coming out of the ground...What is going to be the components of that 'base currency' they talk about. What is the base currency they talk about? The Iraq dinar. If it's going to be a base currency what's the real effective exchange rate. And that's those budget tables in 2024. That's what I'm looking for...I think we're going to see them in very short order.
War on Global South: BRICS' mBridge to be Shut Down by Western Allies to Save the US Dollar
Lena Petrova: 10-29-2024
IMF and World Bank Vows to STOP BRICS mBridge: Direct Confrontation of BRICS and the West?
Fastepo: 10-29-2024
Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 10-29-24
Good Afternoon Dinar Recaps,
JUST IN: BINANCE LAUNCHES FIRST-EVER CRYPTO EXCHANGE SERVICE FOR WEALTH MANAGERS
Binance has launched the a first-of-its-kind crypto solution which will cater to the crypto needs of wealth managers.
▪️Binance has launched 'Binance Wealth' which will cater to wealth managers and further boost crypto adoption.
▪️This initiative will provide easy access for high net-worth individuals seeking digital asset exposure.
▪️The exchange will provide exposure to a wide range of crypto assets beyond Bitcoin and Ethereum.
Good Afternoon Dinar Recaps,
JUST IN: BINANCE LAUNCHES FIRST-EVER CRYPTO EXCHANGE SERVICE FOR WEALTH MANAGERS
Binance has launched the a first-of-its-kind crypto solution which will cater to the crypto needs of wealth managers.
▪️Binance has launched 'Binance Wealth' which will cater to wealth managers and further boost crypto adoption.
▪️This initiative will provide easy access for high net-worth individuals seeking digital asset exposure.
▪️The exchange will provide exposure to a wide range of crypto assets beyond Bitcoin and Ethereum.
Binance, the world’s largest crypto exchange by trading volume, has launched the first-ever crypto exchange solution for wealth managers. According to the exchange, this initiative will be similar to traditional wealth management. This move could also help further assert the exchange’s dominance in the crypto space.
Binance Launches ‘Binance Wealth’
The crypto exchange announced in a press release the launch of Binance Wealth, the first crypto exchange technological solution catering to wealth managers.
This service will allow wealth managers to oversee their clients’ onboarding and make investment recommendations, ensuring that these clients enjoy strong support throughout the onboarding process.
Wealth managers will also retain full discretionary control, similar to traditional wealth management services. Wealth managers seeking the Binance Wealth program must apply to gain access. After their application has been approved, they can support their clients with the onboarding process into the crypto space.
These clients will have to submit the necessary KYC/KYB documentation for verification. Once boarded, these clients can manage their investments and gain guidance from their wealth managers on the best investment decisions for them.
This move comes just over a month after Binance CEO Richard Teng mentioned that their institutional investors grew 40% this year. With this first-of-its-kind offering, the top crypto exchange will attract high-net-worth individuals looking to gain exposure to cryptocurrencies. This could also help boost the crypto exchange’s dominance as it looks to wade off its competitors.
Advantage Of This Initiative For Investors
Binance mentioned in the press release that this initiative will significantly reduce the entry barrier for wealth managers and their clients seeking digital asset exposure. These investors will enjoy an experience similar to the traditional financial advisory framework they are accustomed to.
These investors will gain exposure beyond Bitcoin and Ethereum as the top exchange will offer a wide range of supported tokens beyond the top two cryptocurrencies by market cap.
Wealth managers’ clients will have access to trading and earn/staking products, which cater to the needs of all clients, whether they are looking for active or passive investment opportunities.
Lastly, the crypto exchange mentioned that Binance Wealth will provide a ‘White-glove VIP service’ as wealth managers will receive high-touch VIP services and support from the exchange’s VIP key account client managers.
@ Newshounds News™
Source: CoinGape
~~~~~~~~~
FIVE THINGS TO EXPECT IN CARDANO'S UPCOMING CHANG 2 UPGRADE
The Cardano blockchain's two-part Chang Hard Fork represents a major upgrade that will enhance network functionality and decentralized governance. On Sept. 1, Chang 1, the first phase of the Chang Hard Fork, was activated, bringing crucial improvements such as empowering the Interim Constitutional Committee.
In November 2024, the process to enact the second phase of the Chang upgrade is expected to kick off in full swing, ushering in a critical phase for Cardano’s governance evolution. Chang 2 will require five governance actions to be successfully enacted on-chain.
The current roadmap anticipates a prerelease of Cardano node v10 for testing in mid-October. This crucial phase will initiate thorough testing across multiple environments, starting with the preview and preprod testnets. This second controlled Chang hard fork will complete the metamorphosis of Cardano to the age of Voltaire.
This culmination of the Chang upgrade will mark a watershed moment for Cardano’s governance, marking a pivotal shift that will have far-reaching and long-term consequences for the whole ecosystem. What to expect The second phase of the Chang Hard Fork is expected to bring even more advancements. In a recent tweet, Emurgo, a founding entity of Cardano, outlined five updates to potentially expect.
First is Delegate Representative (DRep) Voting. Introducing Delegate Representative (DRep) Voting aims to strengthen the community's voice. DReps will be one of the key governing bodies in Cardano's governance framework, able to vote on ideas and governance actions on behalf of the whole community. SPO (Stake Pool Operator) voting will also be a key upgrade in the Chang phase 2.
Through this update, SPOs will gain voting power by leveraging the stakes delegated to their pools, altering their role in Cardano's future decentralized governance to one of greater participation.
The Cardano Chang 2 upgrade will also usher in governing actions; here, community members will be encouraged to propose governance actions. Anybody in the community will be able to initiate a proposal with a small ADA deposit, which will be refunded after voting ends.
The proposal will go through a voting procedure with DReps and SPOs to verify that the results match the Cardano community's vision.
Another update to be expected is Treasury Withdrawal. To carry out the approved governance actions, a treasury withdrawal system will be deployed. Approved governance actions will receive funding allocated directly from Cardano’s treasury.
This system will allow community members to shape treasury funds, promoting the Cardano network's long-term growth.
@ Newshounds News™
Source: U Today
~~~~~~~~~
🌱PETER SCHIFF EXPLAINS WHY AMERICA IS ENTERING A HORRIFIC FINANCIAL CRISIS | 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
Economist’s “News and Views” 10-29-2024
BIS Threatens To Shut Down BRICS Project mBridge
Arcadia Economics: 10-29-2024
Just days after the BRICS Summit was completed, Bloomberg now reports that the BIS is threatening to shut down the mBridge cross-border payment platform.
Or at least attempt to.
Vince Lanci explains why they're doing that now, and whether they'll be able to succeed. As well as the implications for what the move implies.
BIS Threatens To Shut Down BRICS Project mBridge
Arcadia Economics: 10-29-2024
Just days after the BRICS Summit was completed, Bloomberg now reports that the BIS is threatening to shut down the mBridge cross-border payment platform.
Or at least attempt to.
Vince Lanci explains why they're doing that now, and whether they'll be able to succeed. As well as the implications for what the move implies.
To find out more, click to watch the video now!
LIVE! WE ARE IN A FULL-ON DEBT CRISIS... THE "LINE IN THE SAND" HAS ALREADY BEEN CROSSED.
Greg Mannarino: 10-29-2024
Jim Rogers: We’re Staring at History’s Greatest Recession; Numbers Are Staggering
Daniela Carbone: 10-29-2024
“America has gone the longest in our history without a recession. History would say we're getting closer to a problem,” warns legendary investor Jim Rogers, chairman of Beeland Interests and co-founder of the Quantum Fund and Soros Fund Management.
Speaking with Daniela Cambone, Rogers highlights the mounting U.S. debt as a path to financial danger, predicting that “the next bear market has to be very serious… and printing money is not going to solve the problem.”
He warns that persistent banking sector issues could trigger a domino effect across currency, investment, bond, and stock markets, calling it potentially “the worst in my lifetime because the debt is so much higher compared to 2008.”
CHAPTERS:
00:00 US economy overview
2:57 Fed
5:30 Stock market
6:31 Trump’s income tax rhetoric
8:06 US debt
10:09 US default on its debt
10:53 BRICS
13:16 BRICS currency
14:21 US banking sector
16:01 Gold and silver
17:40 North American investors’ appetite for gold
19:05 Bitcoin
19:55 How should investors prepare
21:58 US dollar
23:09 Gold confiscation
24:10 Jim’s advice
“Tidbits From TNT” Tuesday 10-29-2024
TNT:
Tishwash: Government advisor explains details of 2025 budget deficit: “We are counting on oil prices”
The Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Salih, confirmed today, Tuesday, that the financial deficit in the 2025 budget amounted to 64 trillion dinars, amid expectations of an increase in oil prices in the global market.
Saleh said, in a statement followed by "Al-Eqtisad News", that "next year's budget 2025 will not deviate from the constants approved in the Federal General Budget Law, the three-year budget submitted by the government and approved by the House of Representatives for the years 2023-2024-2025."
TNT:
Tishwash: Government advisor explains details of 2025 budget deficit: “We are counting on oil prices”
The Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Salih, confirmed today, Tuesday, that the financial deficit in the 2025 budget amounted to 64 trillion dinars, amid expectations of an increase in oil prices in the global market.
Saleh said, in a statement followed by "Al-Eqtisad News", that "next year's budget 2025 will not deviate from the constants approved in the Federal General Budget Law, the three-year budget submitted by the government and approved by the House of Representatives for the years 2023-2024-2025."
Regarding the budget deficit, he explained that “the 2025 budget will have a hypothetical deficit of 64 trillion dinars, which is a (precautionary) deficit that has been established by law to avoid fluctuations in the general budget revenues for the coming year, especially oil revenues, which are subject to fluctuations in the oil asset cycle and the conditions of energy markets in the world.”
Saleh added, "The price of a barrel of oil in the three-year budget, to which the 2025 budget is subject, was set at $70, and any annual increase in oil prices exceeding $70 per barrel of exported oil will reduce the hypothetical deficit in the budget link
************
Tishwash: The President of the Republic calls for enhancing cooperation with the countries of the world in order to extradite wanted persons and recover Iraq's funds abroad
President of the Republic Abdul Latif Jamal Rashid called for enhancing cooperation and coordination with countries of the world in order to extradite wanted persons and recover Iraq's funds abroad.
A presidential statement stated that the President of the Republic received, today, Tuesday, at the Baghdad Palace, the Chairman of the Integrity Commission, Mohammed Ali Al-Lami.
According to the statement, Rashid congratulated the Chairman of the Commission on his assignment to the position, stressing that everyone expects effective and correct steps from the Commission to preserve public money through legal and constitutional procedures, adding that diagnosing the waste of public money is a noble national task that requires a serious and firm stance from all regulatory agencies and bodies, foremost of which is the Integrity Commission, calling for the adoption of integrated and comprehensive national plans and programs in which all official and societal activities have an active role. "
The President of the Republic called, according to the statement, to enhance cooperation and coordination with countries of the world in order to extradite wanted persons and recover Iraq's funds abroad."
For his part, Mohammed Al-Lami reviewed the Commission's future plans and programs, appreciating the support of His Excellency the President of the Republic for the Commission's work and its efforts to achieve transparency.
He stressed the importance of the Presidency of the Republic's support for the Integrity Commission in its efforts to combat the corrupt, recover Iraq's money, and preserve national wealth. link
***********
Tishwash: The Future of Relations with Washington: Iraq Wants Partnership, Not Hegemony
The relationship between Iraq and the United States faces major challenges in light of regional developments and internal political changes in both countries.
There is an Iraqi trend to present its relationship with Washington in a different way than it was in the past, as Iraq seeks to diversify this relationship away from the military and security dimension that has long dominated bilateral cooperation. Iraq recently submitted an official memorandum of protest to the UN Security Council against Israel, stressing the need to clarify positions and highlight Iraqi grievances before international forums, a step aimed at reformulating Iraq's foreign policies in a way that enhances its sovereignty and independence.
In this context, the Iraqi government formed a special committee to review the relationship with Washington, based on the Strategic Framework Agreement signed in 2008, which sought to establish a partnership based on cooperation in various fields, not just security affairs.
Sources told Al-Masala that Iraq seeks to achieve a balanced partnership that will allow it to build a strong and sustainable economy, by benefiting from Washington’s expertise in the economic, educational, and health fields, instead of relying excessively on the military aspect. This trend reflects a strong desire to achieve the aspirations of the Iraqi people away from the effects of regional conflicts.
Moreover, Iraq announced earlier this year the end of the international coalition formed in 2014 to fight ISIS, a move aimed at reducing foreign military presence and restoring national control over sovereign decisions.
This announcement comes as part of a plan aimed at changing the pattern of relations with the United States, while seeking to develop new mechanisms for cooperation through a tripartite military committee that includes representatives from both parties.
Analyses indicate that “this committee must establish strong foundations for a real partnership that is far from hegemony and based on mutual interest, so that Iraqis feel the impact of this partnership in their daily lives.”
The shift towards economic partnership has become an increasing demand, as some voices within the Iraqi government stress the need to move from reliance on military support to enhancing cooperation in the areas of infrastructure, technology and energy, which contributes to developing Iraq’s economic capabilities and providing job opportunities for young people.
The Iraqi-American relationship is one of the most complex issues in the Iraqi political scene, and it is a source of disagreement between political forces, as visions differ on how to deal with this relationship and direct it towards a path that serves the country’s interests, far from foreign interference.
Political movements see Washington as a key partner whose cooperation must be maintained, especially in the economic, health and educational fields in which Iraq lacks long-term institutional support.
These forces call for expanding areas of cooperation outside the security framework, noting that the United States can be a strategic ally for Iraq's development through massive investments, especially in the areas of infrastructure and energy.
Perhaps this trend is expressed by representatives in parliament and officials who believe that building a comprehensive economic partnership with Washington can achieve economic stability away from oil revenues.
On the other hand, there are forces that consider the relationship with the United States to be fraught with sovereignty risks. These parties, which often tend to adopt a nationalist discourse that rejects the American military presence, see American policy in the region as conflicting with Iraq’s interests and regional orientations.
Given the vast regional influence of these powers, the political arena has witnessed calls to re-evaluate the relationship and determine the extent of its need.
This division is clearly evident in the decisions of the Iraqi government, which seeks, on the one hand, to calm internal fears by forming committees to review the strategic framework agreement with the United States, and on the other hand faces pressure to confirm the trend towards new partnerships that are not subject to external pressures.
The joint committee held three meetings in Washington and Baghdad, during which it reached a new mechanism to regulate the relationship between the two parties, which stipulates the withdrawal of the remaining American combat forces in Iraq, and the retention of a number of advisors for the purposes of advice and logistical support, according to the strategic framework agreement signed in 2008 and ratified by the Iraqi parliament. link
Mot oooooh - ooooooh - oooooh ---- Deeeeer!!!!
Mot: ......... figured out Why da RV is soooooo Slow!!!!
Seeds of Wisdom RV and Economic Updates Tuesday Morning 10-29-24
Good Morning Dinar Recaps,
CARDANO WILL RUN A NATION STATE: HOSKINSON SHARES WHEN AND HOW
In a keynote titled “After Voltaire: The Next Evolution of Cardano,” Charles Hoskinson, the founder of Cardano, unveiled an ambitious roadmap that could see the blockchain ecosystem running a nation-state by 2030. Hoskinson envisions this nation-state as a substantial entity, potentially serving tens of millions of people.
We as an ecosystem have to make a decision. Do we want to be timid and just chase our tales and focus on small concerns or do we want to be bold and change the world? There’s no reason we can’t for the first time in human history. […]
Good Morning Dinar Recaps,
CARDANO WILL RUN A NATION STATE: HOSKINSON SHARES WHEN AND HOW
In a keynote titled “After Voltaire: The Next Evolution of Cardano,” Charles Hoskinson, the founder of Cardano, unveiled an ambitious roadmap that could see the blockchain ecosystem running a nation-state by 2030. Hoskinson envisions this nation-state as a substantial entity, potentially serving tens of millions of people.
We as an ecosystem have to make a decision. Do we want to be timid and just chase our tales and focus on small concerns or do we want to be bold and change the world? There’s no reason we can’t for the first time in human history.
We have to decide what we’re going to do with it and how far we want to take it. I believe we can run a nation state on Cardano by 2030 and not a small one, one with tens of millions of people,” the Cardano founder claimed.
How Cardano Can Run A Nation State
Hoskinson reflected on the journey of Cardano over the past seven years, emphasizing the project’s transformative impact. “We have gone from a whiteboard like this to something that has changed the lives of countless thousands of people,” he stated.
Having traveled to 74 countries and interacted with tens of thousands of individuals, he noted that many have expressed how their lives have been changed by being part of the Cardano community.
A central theme of Hoskinson’s speech was the power of on-chain governance and community collaboration. He highlighted that the upcoming on-chain governance system is “not just some [mechanism] to make a decision; it’s a thing to bring people together to make the right decisions.” This system aims to engage the community in shaping the future of Cardano, with hundreds of workshops planned for next year to discuss marketing, branding, and system growth.
Hoskinson also highlighted the central role of the Cardano Constitution, crafted “by and for the people,” which embedded human rights at its core. “We have to have some protections for our data and our privacy, our freedom of association, commerce, and expression,” he asserted.
The constitution seeks to guarantee that the original intentions of the ecosystem are preserved, especially in a landscape where trust in unelected entities is dwindling.
The roadmap includes the launch of major projects like Midnight, which is expected to attract millions of new users to the ecosystem. Hoskinson believes that such initiatives will catalyze the development of dozens of other significant projects across various domains, further expanding the Cardano community.
Addressing the broader implications of Cardano’s evolution, Hoskinson drew parallels with historical revolutions that have reshaped societal structures.
“Just like the American Revolution fundamentally changed the social contract of the world […] we can hold another revolution to take back our digital lives,” he proclaimed.
He criticized the dominance of multi-trillion-dollar corporations that exert significant control over individual lives, advocating for a future where power is decentralized and returned to the people.
Hoskinson also emphasized the unity within the blockchain industry against centralization. “Everybody in the blockchain industry is the same in that we’re all trying to fight the same thing: centralization,” he said. He called for an end to divisive narratives, urging collaboration to prevent a “terrible future of 2030” dominated by centralized control.
Concluding his keynote, Hoskinson expressed optimism about the Cardano ecosystem’s future. “We built a group of people who can do pretty much everything and we now have the resources as an ecosystem to do that. And we also have an engine that keeps speeding up and getting faster.
We just have to have the will to coordinate and prove that we are the ones to do this and we also have to realize that.”
@ Newshounds News™
Source: Bitcoinist
~~~~~~~~~
BIS AND BIG BANKS INTRODUCE PROJECT MANDALA FOR IMPROVED CROSS-BORDER TRANSACTIONS
The Bank for International Settlements and central banks from Australia, South Korea, Malaysia, and Singapore have introduced Project Mandala, a system that embeds regulatory compliance directly into cross-border financial transactions.
This initiative addresses common hurdles in international transactions, such as varying regulations that often increase costs and slow transaction speeds. According to the BIS, hopes to streamline cross-border payments without sacrificing privacy or the quality of regulatory checks by using a “compliance-by-design” approach.
Project Mandala can also integrate with both modern digital asset systems, like central bank digital currencies, and established systems, such as SWIFT, making it flexible for traditional financial institutions and emerging digital financial systems.
The Bank for International Settlements and central banks from Australia, South Korea, Malaysia, and Singapore have introduced Project Mandala, a system that embeds regulatory compliance directly into cross-border financial transactions.
This initiative addresses common hurdles in international transactions, such as varying regulations that often increase costs and slow transaction speeds.
According to the BIS, hopes to streamline cross-border payments without sacrificing privacy or the quality of regulatory checks by using a “compliance-by-design” approach.
Project Mandala can also integrate with both modern digital asset systems, like central bank digital currencies, and established systems, such as SWIFT, making it flexible for traditional financial institutions and emerging digital financial systems.
@ Newshounds News™
Source: Crypto News
~~~~~~~~~
🌱AI CREATES PEOPLE WHO DON'T EXIST! | 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
News, Rumors and Opinions Tuesday AM 10-29-2024
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. 29 Oct. 2024
Compiled Tues. 29 Oct. 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Mon. 28 Oct. 2024 Wolverine: “The GCR is defiantly coming this week. Hi Guys, I am a complete wreck at the moment, but I cannot tell you anything guys as it is all confidential. I just want to tell you guys that we “In Victory! We are in Victory! We are in Victory!” Hallelujah! God Bless you all!
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. 29 Oct. 2024
Compiled Tues. 29 Oct. 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Mon. 28 Oct. 2024 Wolverine: “The GCR is defiantly coming this week. Hi Guys, I am a complete wreck at the moment, but I cannot tell you anything guys as it is all confidential. I just want to tell you guys that we “In Victory! We are in Victory! We are in Victory!” Hallelujah! God Bless you all!
Fri. 25 Oct. 2024 MarkZ: “Billionaire Warren Buffet dumps $10,500,000,000 billion in Berkshire’s Bank of America’s stake after slashing JP Morgan Chase, Wells Fargo investments to zero” Why is this important? If he suddenly dumps the stocks it would probably cause a run on banks. He is historically one of the most solid traders in the world and he is unloading all bank stocks.
Sat. 26 Oct. 2024 Breaking! Military Intel: EBS Training Complete, Countdown to the Great Currency Revaluation Begins! NESARA and GESARA Unveil Monumental Changes: Global Implementation Begins!
~~~~~~~~~~~~
Global Financial Crisis:
Mon. 28 Oct. 2024 INSIDER INFO! High-Level Politicians Leak Imminent Collapse of the Current Financial System—EBS, QFS, and NESARA Rollout is Ready! …Carolyn Bessette Kennedy on Telegram
The old system is breaking down, and the whispers of the Quantum Financial System (QFS), Emergency Broadcast System (EBS), and NESARA are becoming deafening among insiders. Politicians are leaking details, preparing the world for a financial and political upheaval that’s about to unfold..
The signs are undeniable, and these insiders aren’t just talking—they’re preparing us. The QFS is here, the EBS is about to activate, and NESARA is ready for implementation. The time for awakening is here.
The old system is collapsing, and the new one is ready to rise. Prepare yourselves—the revolution is here.
~~~~~~~~~~
Judy Note:
The new US Treasury is (allegedly) in Texas, as is possibly the new US Republic Capitol.
By Nov. 2024 the state of Texas will be (allegedly) set up as home to the new Quantum Financial System for the new US Republic, with their currency being gold-backed US Treasury Notes.
Texas has (allegedly) applied to be a part of BRICS.
Mon. 28 Oct. 2024: The New Gold Backed Quantum Financial System is (allegedly) here, the EBS soon to activate, along with NESARA implementation, while the Military restructures & Banks collapse.
Read full post here: https://dinarchronicles.com/2024/10/29/restored-republic-via-a-gcr-update-as-of-october-29-2024/
*************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man You haven't seen the investment side of the 2024 budget. That's where everybody should be paying attention. If you own dinar you should be paying attention...They haven't exposed the 2024 investment side of the budget. Why? In my view it's exchange rate oriented... They need the exchange rate so they have the final accounts..
Frank26 The second part of the Monetary Reform will allow your currency [the Iraqi dinar] to float on an international platform where it will grow to the Real Effective Exchange Rate...This is all part of the monetary reform process Dr. Shabibi wanted.
LIVE! A VERY DANGEROUS CONVERGENCE OF EVENTS COULD SEND THE STOCK MARKET MUCH LOWER.
Greg Mannarino: 10-28-2024
Seeds of Wisdom RV and Economic Updates Monday Evening 10-28-24
Good Evening Dinar Recaps,
IF TOKENIZED DEPOSITS DON’T PROGRESS, BANK OF ENGLAND LIKELY TO LAUNCH CBDC
During a speech on Saturday, Andrew Bailey the Governor of the Bank of England, discussed the importance of central bank money for both wholesale and retail payments.
He argued that the role of central bank money is particularly important for wholesale high value payments and the settlement of payment systems. Hence, the Bank wants to enable digital innovation in the wholesale sector.
Good Evening Dinar Recaps,
IF TOKENIZED DEPOSITS DON’T PROGRESS, BANK OF ENGLAND LIKELY TO LAUNCH CBDC
During a speech on Saturday, Andrew Bailey the Governor of the Bank of England, discussed the importance of central bank money for both wholesale and retail payments.
He argued that the role of central bank money is particularly important for wholesale high value payments and the settlement of payment systems. Hence, the Bank wants to enable digital innovation in the wholesale sector.
In July the Bank published a discussion paper on wholesale money, highlighting likely trials for both wholesale CBDC and an RTGS synchronization solution.
However, for retail payments, Governor Bailey thinks the Bank of England should be indifferent to whether payments use central bank money such as a retail CBDC or commercial bank money.
He’s quite keen to maintain the status quo in that most retail payments are in commercial bank money. Doing so doesn’t interfere with fractional reserve banking and the availability of credit in the economy. Regarding digital innovation such as tokenized deposits, he thinks commercial banks are where this should happen.
However, he added, “If for some reason innovation is unlikely to happen, then the central banks have to decide whether they are the only game in town. For me, this justifies why we must continue to prepare for retail CBDC. We have not yet seen enough evidence that the innovation will happen in commercial banks.”
Governor Bailey noted that on occasion, infrastructures and technologies have failed to incentivize innovation. Sometimes that relates to the concentration of market power. Hence the ongoing exploration of CBDC. “That is not my preferred outcome, but not one that we should rule out.”
Tokenized deposits trials
Meanwhile, the UK banking sector has been exploring tokenized deposits as part of the Regulated Liability Network. In September it said the next step was to engage with regulators.
The speech comes across as a ‘giddy up’, and is not the first time the Bank has made such comments. In April Deputy Governor Sarah Breeden outlined a potential scenario where bank innovation is slow, unsuccessful or fragmented.
Fragmentation has been a feature of digital securities, but for tokenized deposits, slightly less so. Some banks purely support tokenized deposits for their own clients. But there are many multi-bank projects.
Ledger Insights Research mapped more than 70 tokenized deposit, stablecoin and other DLT payment initiatives. At least 18 are multi-bank, without counting cross border payment initiatives.
@ Newshounds News™
Source: Ledger Insights
~~~~~~~~~
HBAR ADOPTION EXPANDS AS DUBAI LAUNCHES DIGITAL WILL SOLUTION ON HEDERA
▪️Unlike traditional wills that manage physical assets, the DIFC Courts have chosen Hedera for its reliability, security, speed, and trust, ensuring a transparent process.
▪️This initiative underscores Dubai’s strategic approach to establishing a sustainable digital asset infrastructure and regulatory framework.
The Dubai International Financial Centre (DIFC) announced its integration of Hedera’s Hashgraph technology which will power a new Digital Asset Will inheritance solution.
This initiative is distinct from the traditional FinTech focuses like tokenized assets and payments.
Thus, it marks a unique application of distributed ledger technology (DLT) in estate planning, especially for digital asset inheritance.
Managing digital assets in inheritance is a new challenge, unlike conventional wills that distribute stocks, cash, and gold. As a result, the DIFC Courts have chosen Hedera’s technology for its reliability, security, speed, and, most importantly, trust.
Moreover, the governing council of Hedera provides the DIFC and beneficiaries a complete peace of mind via a trusted, transparent process.
Some of the key features of Hedera like the Hedera Consensus Service (HCS), have played a crucial role in offering audit trails at every step along with accuracy. This helps to ensure the correct management of inheritances. For example, HCS’s real-time audit logs prevent mistakes in transferring assets, safeguarding beneficiaries from potential delays or errors.
The DIFC’s move highlights Dubai’s forward-thinking strategy in building sustainable digital asset infrastructure and regulation, setting a standard for digital asset planning. This collaboration is a win for both Hedera as a DLT leader and Dubai’s vision for long-term, responsible digital asset growth.
Key Developments in the Hedera Ecosystem
The Hedera ecosystem is currently seeing strong growth as several industry players are willing to transition to blockchain tech and prefer Hedera for its transparent governance and trust.
Earlier this month, investment firm Canary Capital announced the launch of the first HBAR Trust in the United States, reported CNF. This fueled further speculation around the potential introduction of a Hedera-focused Exchange-Traded Fund (ETF).
The Canary HBAR Trust will provide safe access for investors to cryptocurrency HBAR while opening the gates for institutional participation in the crypto.
Steven McClurg, CEO of Canary Capital, highlighted that the HBAR Trust is designed to provide U.S. institutional investors with new opportunities to tap into the growing demand for crypto-related products.
On the other hand, Prove AI recently launched its artificial intelligence product on the Hedera blockchain allowing businesses to securely manage their AI training data while ensuring compliance by using Hedera’s secure and scalable infrastructure.
Furthermore, Hedera will also provide governance solutions for businesses interacting with AI regulations and development, reported CNF.
In other news, Karate Combat, the world’s premier professional strike league, has announced the upcoming launch of its Layer-2 platform on the Hedera blockchain.
Named “UP,” this Layer-2 blockchain and crypto-native software licensing platform is set to go live in Q1 2025, aiming to propel Web3 adoption across esports, sports, and entertainment sectors, reported CNF.
@ Newshounds News™
Source: Crypto News Flash
~~~~~~~~~
The President of China says:
“At present, the world is going through changes unseen in a hundred years, the international situation is intertwined with chaos.”
The big word here…
Change.
Read: https://x.com/goldtelegraph_/status/1848901796821168254?s=46
@ Newshounds News™
Source: Gold Telegraph
~~~~~~~~~
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 Monday PM 10-28-2024
TNT:
Tishwash: MP: America is waging an economic war against Iraq
Sunday, the representative of the Sadiqoun parliamentary bloc, Rafiq Hashem, accused America of practicing economic warfare against Iraq, stressing that the trend towards Russia and China is the only salvation from American hegemony.
Al-Salihi told Al-Maalouma Agency, “America is waging an economic war against Iraq in order to keep its forces in the country, indicating that America is preventing Iraq from obtaining its money from oil sales.”
He added, "America is plotting a new economic conspiracy against the Iraqi people by reducing financial transfers to Iraq, which has led to an increase in the exchange rate of the dollar against the Iraqi dinar."
TNT:
Tishwash: MP: America is waging an economic war against Iraq
Sunday, the representative of the Sadiqoun parliamentary bloc, Rafiq Hashem, accused America of practicing economic warfare against Iraq, stressing that the trend towards Russia and China is the only salvation from American hegemony.
Al-Salihi told Al-Maalouma Agency, “America is waging an economic war against Iraq in order to keep its forces in the country, indicating that America is preventing Iraq from obtaining its money from oil sales.”
He added, "America is plotting a new economic conspiracy against the Iraqi people by reducing financial transfers to Iraq, which has led to an increase in the exchange rate of the dollar against the Iraqi dinar."
He pointed out that "Iraq's openness to major countries such as Russia and China is the only solution to get rid of American economic hegemony." link
DID YOU KNOW? Moral Compass
The rumor mill has been ablaze, starting around the end of August, beginning of September. Multiple Intel providers from multiple Intel networks have pretty much been saying the same thing. Funds for the GCR have been released.
Now what “released” means is still a question.
All that is apparent is no one has seen any spendable money. For the sake of definition can we all agree that, “released”, to the masses, means spendable money.
The problem is, and has always been, these Intel providers who propagate these rumors without any validations or proof in what they say. Often expanding conversation in great detail to encourage belief in what they say . Few of these sources are sincere .
The language used is not clear and precise, always leaving something to question. The greatest enemy of clear language is insincerity. When there is a gap between one’s real and one’s declared aims, they turn instinctively to long words and exhausted idioms to convince their followers of their sincerity. These types begin to believe their own facade, blinding themselves to the harm they inflict.
I for one would appreciate the integrity of telling the truth. True integrity requires oneself to be accountable for what you say.
Don’t tell readers the funds are released knowing full well the perception of the reader is the funds are available to spend. This is creating a facade and a ignorance to the reader. Stand up to ignorance, because if you don’t, the ignorance will run free to spread like a d*****e.
The one narrative I do believe in is that this event (GCR) is not intended to make individuals wealthy. When you are paid and the funds are placed in your account ( a trust account, personal account or whatever type of account you have set up) you will receive 1% of the funds at first. What you do or how you spend the 1% will dictate if you receive any more.
The funds are meant for humanitarian projects. The whole event is meant for humanity not individual gain. There will be some discretionary funds paid to the currency or bond holder but the bulk of the fortune is meant for helping the world. The idea is that the more people who have the funds will be able to do more of the good work as opposed to institutions that historically haven’t been able to get it done.
In the meantime there should be some moral rules for those populating information to the masses. We should all be in favor of moral rules that prevent others from doing things that harm our own interest..
You only get wet walking in the rain if you don’t have an umbrella. Listen to those who are sincere, have integrity and a moral compass. They’re your umbrella!
DJ
https://www.rumormillnews.com/cgi-bin/forum.cgi?read=247795
************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Walkingstick In the past corrupt executives and parliament people used to take advantage of the banks and the money exchange centers in the black market. Both of these issues are gone..
Militia Man Article: "Bold step changes the liquidity map in Iraq" Quote: "The Central Bank of Iraq decided to reduce the internet rate and activate securities...Analysts expect an increase in reliance on the Iraqi dinar as a base currency...It's expected the activation of a new dinar instrument will contribute to enhancing local liquidity..." A base currency is going to make you guys really excited. What is a base currency? Base currency is the first currency in a pair of currencies being traded in the Forex Exchange Market. The second currency is called the quote or counter currency ...They're talking about it's not the US dollar that the base currency. It's going to be the Iraqi dinar...I'm really pumped and excited...! If that doesn't tell you these guys are gearing to go international I don't know what does... Powerful information!
What Is BRICS Pay?
Arcadia Economics: 10-28-2024
There's a lot of questions surrounding the BRICS meeting and announcements this past week. To clear up the confusion, Vince Lanci breaks down what BRICS Pay is and is not.
So to find out what the truth about BRICS Pay , click to watch the video now!
Seeds of Wisdom RV and Economic Updates Monday Afternoon 10-28-24
Good Afternoon Dinar Recaps,
IOTA NEARS MAINNET SMART CONTRACTS RELEASE, PAVING PATH FOR POTENTIAL ATH IN 2024
▪️IOTA is set to launch smart contracts on its Layer 1 network this year, with the transition from testnet to the mainnet expected to be swift.
▪️This would enable the L1 network to anchor decentralized applications and support tokenization, which founder Dominik Schiener says is the network’s key target market.
Good Afternoon Dinar Recaps,
IOTA NEARS MAINNET SMART CONTRACTS RELEASE, PAVING PATH FOR POTENTIAL ATH IN 2024
▪️IOTA is set to launch smart contracts on its Layer 1 network this year, with the transition from testnet to the mainnet expected to be swift.
▪️This would enable the L1 network to anchor decentralized applications and support tokenization, which founder Dominik Schiener says is the network’s key target market.
IOTA has been working towards being an all-encompassing network that can anchor decentralized applications, NFTs, tokenization, decentralized exchanges, and every other blockchain application. While most of these developments have been on the Shimmer staging network, the IOTA Layer 1 could catch up before the end of the year, starting with the debut of smart contracts.
According to discussions from the IOTA’s developers forum, the smart contracts could launch later this year. As noted by one community member on X, they would initially launch in a testnet environment but quickly transition to the main network.
Known as IOTA Academy, he noted:
If this is true and major RWA (real-worl assets) liquidity starts flowing in, we might easily approach IOTA‘s ATH next year.
According to the quoted forum conversation, IOTA developers have been working in private repos on big tech upgrades, but they are bound by non-disclosure agreements against speaking out about these developments.
It also claims that the smart contracts upgrade might include the introduction of MoveVM, a virtual machine designed to run smart contracts written in the Move programming language.
MoveVM enhances flexibility and security while also promoting speed through parallel transaction processing; it has been credited with allowing Web3 apps on networks like Aptos to process up to 150,000 transactions per second.
Earlier this year, IOTA announced the integration of Supra Oracles for IOTA EVM to enhance the data accuracy of its smart contracts.
IOTA Prepares for a Revolution
This year, IOTA has made significant advancements. While every development has been important to the growth of the ecosystem, none has been as significant as the launch of IOTA 2.0. It launched in May this year on a testnet and signals the network’s most radical development in years.
The testnet allows the entire ecosystem of developers, users, and the Foundation to experiment with the new decentralized framework. It comes with features such as feeless transactions and permissionless voting.
IOTA has already been recognized as the best infrastructure for the Internet of Things ecosystem, with Tangle being singled out as the best implementation of decentralized ledger technology for the rapidly growing sector by a recent study.
As we reported recently, a separate study showed that smart contracts on IOTA 2.0 can enhance and secure software-defined networking (SDN), which makes networks more flexible by separating the components of a data network.
IOTA trades at $0.1097 at press time, dipping 2% in the past day despite a 24% rise in the trading volume and a broader uptick in the overall market cap.
@ Newshounds News™
Source: Crypto News Flash
~~~~~~~~~
XRP LAWSUIT: LEGAL EXPERT SAYS THE SEC IS ‘NOT DELAYING’ THE RIPPLE APPEAL TO 2025
Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC) continues, with the SEC requesting yet another extension for its main brief submission, now pushing the deadline to January 2025. According to legal analyst Fred Rispoli, this request hints at more than just logistical issues; it shows that the SEC is struggling with its resources in handling cryptocurrency cases, adding to an already packed agenda.
During his appearance on the “Good Morning Crypto Show,” Rispoli said that Ripple’s appeal will focus exclusively on written submissions, characterizing the situation as a “battle of briefs” rather than live courtroom confrontations. Oral arguments are expected to take place in late 2025, providing both parties an opportunity to strengthen their positions.
However, former SEC attorney Marc Fagel countered Rispoli’s assessment, asserting that the SEC merely selected a date to file its briefs within the established timeline and that there are no delays occurring.
Taking to his X handle, Rispoli wrote,
“False. The SEC simply picked a day to file their briefs within the allocated time period. Nothing is being delayed.”
Gary Gensler, New Laws and More
On the show, Fred also discussed how a new law could affect Ripple. If a law were passed stating it would start on January 1, 2026, it might make the current legal arguments irrelevant, as long as it clearly includes Ripple. If the law is unclear about Ripple’s status, the appellate court might send the case back to the trial court for more clarification.
Fred said that new SEC leadership could greatly impact Ripple’s lawsuit. Regarding Gary Gensler, the current SEC chairman, Fred predicted there’s a “0% chance” he’ll still be in that role by 2026.
@ Newshounds News™
Source: CoinPedia
~~~~~~~~~
🌱ZIMBABWE DITCHES U.S. DOLLAR FOR GOLD-BACKED CURRENCY. WHAT DOES IT MEAN? | 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