The Fed Knows the US Dollar is in Serious Trouble

The Fed Knows the US Dollar is in Serious Trouble

The Atlantis Report:  11-2-2024

The Federal Reserve’s role as the steward of the U.S. monetary policy and financial stability has never been more scrutinized.

 Recently, the Fed has made an admission that has caught financial markets off-guard: the U.S. dollar, historically regarded as the world’s reserve currency, faces significant challenges that may threaten its dominance on a global scale.

This revelation has ignited a whirlwind of debate among economists and policymakers, prompting deeper inquiry into the factors behind the dollar’s vulnerability and the potential implications for the American economy and international finance.

To appreciate the gravity of this admission, it’s essential to understand what it means to be a reserve currency. A currency is deemed a reserve currency when it is widely held by governments and institutions as part of their foreign exchange reserves.

The U.S. dollar has enjoyed this status since the end of World War II, primarily due to the size, strength, and stability of the U.S. economy. The dollar being the preferred medium for international trade and investment has historically afforded the U.S. significant economic advantages, including lower borrowing costs and increased influence over global economic policies.

The Federal Reserve’s admission regarding the vulnerabilities of the U.S. dollar as the world’s reserve currency should serve as a clarion call for both policymakers and citizens.

As the global landscape evolves, the U.S. must navigate these complexities with prudence and foresight. Understanding the underlying factors that challenge the dollar’s dominance will be crucial for ensuring long-term economic stability and maintaining U.S. influence in international finance.

 As we move forward, it will be vital to monitor how these developments unfold and to adapt strategies that can safeguard the financial health of both the U.S. and the broader global economy.

https://www.youtube.com/watch?v=u0oKXLkWIao

“Tidbits From TNT” Saturday 11-2-2024

TNT

Tishwash:  Vietnam seeks closer ties with Gulf states beyond energy sector

Vietnam is expanding its ties with the Gulf Cooperation Council beyond the energy sector, with several agreements signed during a visit to the region by a senior Hanoi government official this week.

Vietnam’s Prime Minister Pham Minh Chinh ends his tour of the Gulf on Friday with a visit to Qatar after starting in the UAE and later attending the Future Investment Initiative in Saudi Arabia.

Vietnam’s efforts seem to be in line with Gulf desires to strengthen their presence in Asia, particularly in the energy sector to exploit growing demand there, as evidenced by the signing of a memorandum of cooperation with oil giant Aramco. In addition, the UAE plans to establish a hub for storing oil and petrochemicals in Vietnam to meet market needs in the region.  link

Tishwash:  Governmental move to establish an administrative capital in Baghdad

The Parliamentary Investment and Development Committee confirmed today, Friday, that there is a government move to announce the establishment of the administrative capital in Baghdad, noting that Prime Minister Mohammed Shia al-Sudani will soon announce this capital, which includes all ministries and departments.

The head of the committee, MP Hassan Qasim Al-Khafaji, said, "There is a government trend in the coming short period to announce the administrative capital," noting that "the administrative capital will be south of Baghdad towards Alwat Al-Rashid within a large area."

He pointed out that "this capital will include all ministries and departments according to financial allocations," stressing that "Prime Minister Mohammed Shia al-Sudani will announce this capital and lay the foundation stone for it, and it will be implemented and completed in the coming years."  link

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Al-Sudani discusses 7 files with Erdogan.. Shafaq News reveals details of Istanbul meeting

 In a closed meeting that lasted about two hours today, Friday, the Iraqi Prime Minister and Turkish President Recep Tayyip Erdogan discussed many files in Istanbul, most notably developing relations between the two countries and the path of development.

An Iraqi government official told Shafaq News Agency that the Turkish president said during his meeting with the Sudanese, "Türkiye and Iraq are two neighboring countries linked by deep-rooted historical and cultural ties."

He added, "Developing relations and evaluating cooperation opportunities, especially the Development Road project, will provide many benefits to both countries. We will continue to take the necessary steps with determination to achieve this."

The Iraqi official pointed out that Erdogan reiterated his great interest in the development road project proposed by Al-Sudani after he became prime minister.

He pointed out that the Turkish President stressed the need to establish a mechanism to implement the development road project, which will constitute a major economic axis in the region, and he also indicated the desire of a number of countries to benefit from it and connect the road with them. 

The Iraqi official noted that the two presidents discussed in detail the mechanisms and methods that would ensure the stability and security of the region.

The two presidents also stressed the need for diplomatic action to stop the brutal Israeli aggression on Gaza and Lebanon and to prevent the conflict from expanding in the region.

According to the Iraqi government official, Erdogan confirmed to Al-Sudani his keenness and readiness to support the security and stability of Iraq.

He added that the meeting of the two presidents also discussed the results of the technical teams currently working on implementing the agreements signed in Baghdad in April 2024, especially the framework of the water cooperation agreement and their readiness to implement water infrastructure projects and agricultural land reclamation.

Prime Minister Mohammed Shia al-Sudani arrived in Istanbul today, Friday, to meet with Turkish President Recep Tayyip Erdogan, according to what the Iraqi government announced in a statement without going into further details about the previously unannounced visit.

Meanwhile, a government source told Shafaq News Agency that Al-Sudani's visit to Türkiye will last a few hours, during which he will meet with Erdogan to discuss several files, some of which are related to the situation in the region.

This is Al-Sudani's second visit to Türkiye since assuming his position as Prime Minister of Iraq. He made his first visit last March, during which he met with Turkish President Recep Tayyip Erdogan. link

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Tishwash:  Al-Sudani returns to Baghdad after spending hours in Istanbul

 Iraqi Prime Minister Mohammed Shia al-Sudani returned to the capital, Baghdad, after spending hours in the Turkish city of Istanbul, during which he met with Turkish President Recep Tayyip Erdogan, according to a statement from al-Sudani's office received by Shafaq News Agency.

In a closed meeting that lasted about two hours today, Friday, the Iraqi Prime Minister and Turkish President Recep Tayyip Erdogan discussed many files in Istanbul, most notably developing relations between the two countries and the path of development.

Prime Minister Mohammed Shia al-Sudani arrived in Istanbul on Friday to meet with Turkish President Recep Tayyip Erdogan, the Iraqi government announced in a statement without going into further details about the previously unannounced visit.

Meanwhile, a government source told Shafaq News Agency that Al-Sudani's visit to Türkiye will last a few hours, during which he will meet with Erdogan to discuss several files, some of which are related to the situation in the region.

This is Al-Sudani's second visit to Türkiye since assuming his position as Prime Minister of Iraq. He made his first visit last March, during which he met with Turkish President Recep Tayyip Erdogan.  link

Mot: .. aaaaaaaaaaaahhhhhhhhhhhhhhhhh!!!!!!! ((( Nov 3rd )))

Mot:  .. addeth or subtracteth????

Seeds of Wisdom RV and Economic Updates Saturday Morning 11-2-24

Seeds of Wisdom RV and Economic Updates Saturday Morning 11-2-24

Good  Morning  Dinar Recaps,

PAXOS ISSUES ‘GLOBAL DOLLAR’ STABLECOIN USDG OUT OF SINGAPORE. PARTNERS DBS

Last July Paxos Global confirmed it received the regulatory go ahead from the Monetary Authority of Singapore (MAS) to issue a stablecoin, with DBS Bank as custody partner. Today it confirmed the launch of the USDG stablecoin, which it refers to as the ‘global dollar’. 

Given Paxos has a background of partnering with institutions such as PayPal and Stripe, it says the Ethereum stablecoin is “designed to support the needs of regulated institutions that maintain higher standards of operation.”

“Enterprise interest in stablecoins has never been higher than it is today, but the market lacks a solution that combines regulatory compliance with real economic incentives for enterprises,” said Ronak Daya, Head of Product at Paxos.

“USDG offers a trusted solution with a top-tier banking partner in DBS that will be the catalyst to drive stablecoin innovation and enterprise adoption at a global scale.”

Singapore’s largest bank, DBS, will provide custody for the securities and dollar cash deposits will also be managed via DBS.

Other stablecoins from Paxos
Paxos Trust in New York is the issuer of the PayPal stablecoin and also supports Stripe in its stablecoin acceptance. The company has its own US-based stablecoin USDP and its UAE-based affiliate, Paxos International, issued the yield-bearing stablecoin Lift Dollar (USDL). Paxos Trust was previously the issuer of the Binance USD stablecoin.

The company has always been amongst the most conservative in managing stablecoin reserves to ensure they maintain their 1:1 peg. Hence. it will hold US dollar deposits, short dated Treasuries and ‘other cash equivalents’. 

The whitepaper states other reserves include reverse repurchase (repo) agreements and institutional government money market funds. Reverse repo agreements involve temporarily lending cash (usually to banks) in exchange for collateral, in this case US government securities.

Stateside, Paxos structured as a New York regulated Trust to provide maximum protection to holders in the event of a bankruptcy. Likewise, Paxos Digital Singapore holds the assets in trust on behalf of stablecoin holders via segregated safeguarding accounts.

Anyone that has opened an account with Paxos (ie. has been through KYC) can redeem the stablecoin directly. It will usually take around a day but up to a maximum of five days in compliance with Singapore regulations. The minimum redemption amount is equivalent to the cost of the wire fee.

@ Newshounds News™

Source:  Ledger Insights

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CRYPTO VOTERS GUIDE TO CONGRESSIONAL LEGISLATION FOR THE 2024 ELECTION

The 2024 United States elections will be held on Nov. 5, as digital asset policy becomes a growing concern among pro-crypto voters.

As the 2024 US elections draw closer, digital assets have become a political issue for the first time, as industry executives and advocates apply pressure on candidates to pass pro-industry policies and embrace the future of money.

Clear and comprehensive digital asset policy in the United States remains elusive, as regulators like the Securities and Exchange Commission (SEC) regulate through enforcement action, rather than rulemaking. This lack of a coherent framework is a growing concern for elected lawmakers, industry service providers, and single-issue crypto voters.

While understanding a particular candidate’s stance on crypto policy is key, voters must also understand the underlying legislation currently being considered in the House and the Senate. Listed below are the key pieces of legislation currently up for consideration.

Financial Innovation and Technology for the 21st Century Act
The Financial Innovation and Technology for the 21st Century Act (FIT21) — introduced by Pennsylvania Congressman Glenn Thompson in 2023 — aims to establish a comprehensive digital asset regulatory framework by bringing sufficiently decentralized assets under the purview of the Commodity Futures Trading Commission (CFTC). The bill features these defining criteria for sufficient decentralization:

“If, among other requirements, no person has unilateral authority to control the blockchain or its usage, and no issuer or affiliated person has control of 20% or more of the digital asset or the voting power of the digital asset.”

However, the bill also gives the SEC authority to regulate digital assets deemed as securities. In May 2024, the bill passed in the House and must pass in the Senate before it is handed to the President for consideration.

CBDC Anti-Surveillance State Act
Minnesota Rep. Tom Emmer first introduced the CBDC Anti-Surveillance State Act in 2023.

The bill’s goal is to prohibit the Federal Reserve Bank from ever creating a consumer-facing central bank digital currency (CBDC), or otherwise maintaining accounts on behalf of individuals.

Moreover, the bill seeks to restrict the Federal Reserve from “Using a central bank digital currency to implement monetary policy or from issuing a central bank digital currency,” entirely.

CBDCs face widespread criticism from the crypto community, liberty-minded individuals, privacy advocates, and commercial banks. In May 2024, the bill passed in the US House and awaits a vote in the Senate.

Clarity for Payment Stablecoins Act of 2024
The Clarity for Payment Stablecoins Act is a re-introduction of a 2023 bill of the same name from Rep. Patrick McHenry and seeks to establish a comprehensive regulatory framework for US-dollar stablecoins.

A key difference between the newer draft and the earlier bill is a provision allowing stablecoin issuers with a market capitalization under $10 billion to be regulated at the state level, rather than the federal level.

The previous version of the bill advanced to the House floor but has not yet passed in either chamber. Senators Lummis and Gillibrand also proposed a similar bill to the Senate in April 2024, to establish a stablecoin regulatory framework.

Digital Asset Anti-Money Laundering Act
First introduced by Massachusetts Senator Elizabeth Warren in July 2023, the Digital Asset Anti-Money Laundering Act proposes that digital asset providers should be subject to the same reporting requirements as traditional financial institutions under the Bank Secrecy Act.

Warren is one of the crypto industry’s most vocal critics, and the 2023 bill has faced significant backlash as one of the most anti-crypto pieces of legislation currently up for consideration.

The bill has not yet passed in either chamber of Congress and even lost support from its cosponsor, Republican Senator Roger Marshall, in July 2024.

Financial Technology Protection Act of 2023
The Financial Technology Protection Act of 2023, proposed by Iowa Rep. Zachary Nunn, aims to create the Financial Technology Working Group to combat illicit finance in terrorism and organized crime in emerging financial technologies.

Earlier in 2024, the bill passed in the United States House of Representatives and has been submitted to the Senate for deliberation.

Equal Opportunity for All Investors Act
Introduced by Nebraska Congressman Mike Flood in April 2023, the Equal Opportunity for All Investors Act would expand the definition of an “accredited investor” — lowering the barrier to entry for participation in private securities sales and offerings.

More specifically, the bill would allow individuals to qualify as accredited investors by passing a knowledge test administered by the SEC.

In 2020, the SEC amended its long-standing criteria for an accredited investor to emphasize financial knowledge rather than net worth, income, or wealth. The Equal Opportunity for All Investors Act was passed in the US House of Representatives but has not yet passed in the Senate.

The Blockchain Regulatory Certainty Act
Rep. Tom Emmer — one of crypto’s most vocal proponents — submitted the Blockchain Regulatory Certainty Act to the US House of Representatives in March 2023. The bill’s central goal is to exempt blockchain developers and service providers from traditional financial reporting requirements, as long as they do not handle customer funds.

The bipartisan bill was approved by the House Financial Services Committee in July 2023, and allowed to advance to the US House of Representatives but has yet to pass in either chamber of Congress.

Keep Your Coins Act
Ohio Congressman Warren Davidson introduced the Keep Your Coins Act in July 2023 as a consumer-facing protection meant to restrict regulatory agencies from preventing US citizens from using self-custodial wallets to transact.

At this time, it is unclear whether the bill will be passed into law or garner widespread support.

@ Newshounds News™

Source:  CoinTelegraph

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🌱 AUDIO INTEL AND MORE WITH BOB LOCK, JIM SILVER 57, R JAX AND LOWTIDE. GREAT INFO.  |  YOUTUBE

If you missed the Constitution Call last night, here is the replay.  We started off with any NEW news from Mason and Jim, INTEL.  We were Joined by Bob Lock.  Lots of great info including Election News near the end.

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts   

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Thank you Dinar Recaps

News, Rumors and Opinions Saturday AM 11-2-2024

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

RV Excerpts from the Restored Republic via a GCR: Update as of Sat. 2 Nov. 2024

Compiled Sat. 2 Nov. 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Fri. 1 Nov. 2024 Mike Bara: OK, so just when I was ready to give up on this thing happening before the election, I get this: “The US election n will not change the timing. All countries and banks have signed the necessary treaties and are ready. Dinar will lead the way on Sunday/Monday. Bonds/GCR on Tuesday.” I guess they decided the chaos of the US election is actually the perfect cover. We will see, but hang in there!

Fri. 1 Nov. 2024 TNT Tony via Fred Koch on Telegram: “TNT seems to confirm Wolvie’s Intel. They claim banks had an emergency meeting and they came to the conclusion that they would prepare over the weekend for T4b launch on Mon. 4 Nov. 2024.”

Fri. 1 Nov. 2024 Wolverine Call:

I got some wonderful news, and I have spoken to paymasters and bank officials. The green light has been given. We are just about to cross the finish line. 

Our friend Charlie Ward has always said nothing will happen till after the election. He was dead on, and has never moved from that opinion, and he was absolutely right.  

The codes have been locked in, authority has been given, and by next week we will be celebrating. We have million percent assurance it is now all coming through.

The main leaders from all countries (Mauricio may have been included on that), have been called to receive their blessing.  

I have spoken to the leaders of the platforms, and they are in the same intel as myself, and also been told same. The Precatorias should be released by Tuesday or Wednesday for people who are in that platform.

Each platform is different. When these people see their money, they then have to release that money to the members (I am not talking about currency, I am talking about bondholders).  They will decide when they can release it, because it is not as easy as pressing a green. They must do all by the book, get it all ready, get all the sub-leaders together to release the money to their people. All has to be done to be timed correctly.

They have till the 10th of November to RELEASE ALL OF IT – ALL HAS TO BE RELEASED!!!  This has been Verified and vetted.  

I know we have been going through “it is coming and it is coming tomorrow “but in speaking to the general paymasters (not the ones in South America) they have assured me that all is now coming.

I had the privilege of being on a private call for a private contractor, and the amount of money is a huge amount of money to come through to be used for humanitarian purposes.

Now for the currencies, I know everyone has been waiting for their currency notification that should come in with the Grace of God, after the election results on Tuesday 5 Nov.

I know you have been waiting, but this has come from official channels. God Bless you. Be patient. Hopefully, we will have an incredible celebration next week. I would like to meet all of you at the get together and give you all a huge hug.

Fri. 1 Nov. 2024: BOOOM! Global Financial Revolution: How Starlink, Basel III, and ISO20022 Are Blowing Up Traditional Banking! – amg-news.com – American Media Group

Fri. 1 Nov. 2024: Quantum Financial System Goes Live: Cabal Wealth Seized, Global Currency Reset in Motion, Quantum Satellites and Military-Guarded Nodes Secure the Greatest Financial Revolution of Our Time! – Gazetteller

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Global Financial Crisis:

Fri. 1 Nov. 2024: CEO of US’ largest bank JPMorgan CEO says ‘it’s time to fight back as things are becoming …’ – Times of India: https://timesofindia.indiatimes.com/technology/tech-news/ceo-of-us-largest-bank-jpmorgan-ceo-says-its-time-to-fight-back-as-things-are-becoming-/articleshow/114825978.cms

U.S. Stocks now account for 49% of the World’s Market Cap!  The last time this level was breached was just before the Dot Com Bubble

Intel $INTC is set to lay off close to another 17,000 employees after laying off 20,000 earlier in the year

Fri. 1 Nov. 2024: BREAKING: Nearly 953 Billion Dollars Has Been Wiped Out From the US Stock Market Today – amg-news.com – American Media Group

Read full post here:  https://dinarchronicles.com/2024/11/02/restored-republic-via-a-gcr-update-as-of-november-2-2024/

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

Frank26  [Iraq boots-on-the-ground report]  FIREFLY:
Mr. Sammy said all branch bank managers have gone through and now completed international service standards in banking reforms as of yesterday morning.  FRANK: Why?  Because of the float.  You have to have a new exchange rate if you're going to float it.

Walkingstick  [Iraqi Bank Manager Friend Aki Update]  They are about to open many hundreds of ATM exchange enters outside of Iraqi borders.  We call them currency exchange centers.  Aki owns 90 of these centers.  It is not him by himself.  Aki is part of a conglomerate.  His business partners, there's 18 of them, they own 90 of these 'currency exchange centers' around the world.  The exchange centers are under the control of the GOI and CBI.  They both control the exchange rate of the Iraqi dinar.

Walkingstick   It would behoove them to now put the pictures and the explanations of the lower denoms on the bulletin boards at these currency exchange centers.  Aki owns 90 of these exchange centers with his conglomerate.  You know why?  Because it's all about the money.  They don't get involved in politics.  They don't care about parliament.  They don't care about any delays.  It's only about the bottom line.

THIS IS IT! THE POINT OF NO RETURN... EXPECT ANYTHING AND TAKE ACTION NOW.

Greg Mannarino:  11-1-2024

https://www.youtube.com/watch?v=1p2mhA3zZ3o

BRICS Precious Metals Exchange: A Game Changer for Global Finance?

Express EconGeoFinance Insights:  11-1-2024

The BRICS nations, comprising Brazil, Russia, India, China, and South Africa, are taking a bold step towards gaining control over the global precious metals market. In this video, we'll explore the implications of this move and what it means for the future of gold, silver, and other precious metals. Will this shift in power dynamics change the way we think about investing in precious metals? Tune in to find out.

https://www.youtube.com/watch?v=qaOUyQqGI_8

GoldSilver: What are the BRICS Nations Preparing for?

GoldSilver: What are the BRICS Nations Preparing for?

Mike Malony:  Nov. 1, 2024

BRICS is making waves on the global stage, and in this eye-opening video, we explore the recent BRICS Summit's key revelations, highlighting the alliance's economic resilience, military strategies, and ambitious plans to reshape international trade systems.

Despite facing heavy Western sanctions, Russia and its BRICS partners seem far from isolated. In fact, they’re laying the groundwork for a new world order. Discover:

The impressive economic gains of BRICS nations, including India's role as a major trade intermediary.

How Russia’s oil revenues continue to thrive despite sanctions.

Alarming military developments, from North Korean troops in Ukraine to Iran’s call for a global military coalition.

A deeper look into Russia’s narrative on the Ukraine conflict and the contradictions in claims of its isolation.

Strategic moves towards decoupling from Western financial influence, including Putin’s plans for food security and local currency settlements.

As tensions rise globally, are we on the brink of a major shift? Prepare to rethink everything.

In a world increasingly divided along geopolitical lines, the BRICS alliance (Brazil, Russia, India, China, and South Africa) is making significant waves on the global stage. Recently, an eye-opening video by GoldSilver featuring Alan Hibbard peeled back the layers on the latest BRICS Summit, shedding light on the alliance’s growing economic resilience, military strategies, and ambitious plans to reshape international trade systems.

Despite heavy Western sanctions, particularly against Russia, BRICS nations appear to be crafting a robust counter-narrative to the established order, signaling the potential for a new world dynamic.

One of the most striking aspects of the recent BRICS Summit is the impressive economic gains shown by its member nations. Hibbard points out how India, in particular, is emerging as a significant trade intermediary, bridging gaps between East and West while facilitating trade routes that bypass traditional Western-dominated systems.

This pivot towards local currencies and bilateral trade agreements showcases BRICS nations’ commitment to establishing an economic framework less reliant on the U.S. dollar.

Russia, often viewed through a lens of isolation due to stringent sanctions, continues to see its oil revenues soar, bolstered by rising demand in Asia and selective trade partnerships. The adaptability of these nations in the face of Western pressures not only undermines the efficacy of sanctions but also affirms BRICS’ resolve to carve out an independent economic space.

One of the most pivotal discussions at the recent BRICS Summit revolved around the strategic moves to decouple from Western financial dominance. Hibbard highlights President Putin’s plans for achieving food security through enhanced local currency settlements, underscoring a shift that could disrupt the prevailing dollar-centric global trading system.

 As BRICS nations maneuver to establish alternative financial mechanisms, the implications are profound: we may be witnessing the early foundations of a multi-currency system that challenges the longstanding supremacy of the U.S. dollar.

As tensions escalate globally, the world finds itself on the precipice of a significant shift. The BRICS alliance, through its economic, military, and strategic initiatives, asserts itself as a formidable player on the international stage. Hibbard’s insights compel us to reconsider previously held notions about isolation, cooperation, and the ever-evolving dynamics of global power structures.

In conclusion, the BRICS nations are not merely reacting to external pressures; they are actively defining their future through collaboration, resilience, and innovation. As we navigate these changes, it is crucial for observers and participants in the global arena to reassess their strategies and alliances, preparing for a reality that may look vastly different in the not-so-distant future.

The question looms large: are we on the brink of a major shift in the global order? Only time will tell, but with BRICS making such substantive moves, it seems more plausible than ever.

https://www.youtube.com/watch?v=vnPAJYZgrx4

Ariel: Ladies and Gentlemen Start Your Engines 10-31-2024

Ariel:  Ladies and Gentlemen Start your Engines  10-31-2024

10-31-2024

Iraqi Dinar Update

Currency Auctions
2025 Budget
New Electronic Cards
New Lower Denominations

The Iraqi News Wire

The volume of currency issued in circulation is approaching 100 trillion dinars.

▪︎ Foreign exchange reserves exceed $100 billion
▪︎ Next year they witness major transformations in the restructuring of government and private banks.
▪︎ The growth rate of the money supply rose from 46 trillion to 100 trillion in two years.
▪︎ External debt does not exceed 20 billion dollars
▪︎ The current inflation rate is 3.8%, which is a typical rate.
▪︎ They have granted licenses to 16 electronic payment companies.

Possible Timeline For New Exchange Rate

End 2024: The Cancellation of currency auctions, which could open the door to a new, stabilized rate.

Early 2025: Potential introduction of a new exchange rate or redenomination, likely with lower denominations in January.

2025 and Beyond: Continued modernization and integration of the Iraqi banking sector, leading to enhanced stability and economic growth, which supports a stronger dinar.

Currency Auctions: The move to phase out currency auctions by the end of 2024 is part of their effort to stabilize the dinar and eliminate rate distortions caused by reliance on auction-based exchange mechanisms. This shift allows them to move toward a direct foreign exchange mechanism, leading to a more controlled, market-based exchange rate that better reflects the true value of the dinar in international markets.

Electronic Payments Infrastructure: The licensing of 16 new electronic payment companies is another critical step in our financial modernization strategy. These companies will play a pivotal role in increasing electronic payment adoption, facilitating both local and international transactions, and bringing Iraq’s banking infrastructure in line with global standards. This adoption is expected to improve financial inclusion and reduce reliance on cash transactions, indirectly supporting a more stable dinar.

New Lower Denominations: Plans to introduce lower denominations, potentially in early 2025, are aligned with the anticipated redenomination strategy. This initiative signals a long-term commitment to strengthening the dinar is said to contribute to easier everyday transactions, reducing inflationary pressure from currency volume in circulation and aligning Iraq’s monetary system with the broader regional and global financial ecosystem.

Iraq’s recent announcement on allowing “Category A” licenses for banks to function as exchange companies is a significant step toward economic growth and stability. With this license, banks can now offer extensive currency exchange services, enabling seamless and large-scale transactions for both individual customers and businesses. No more middle men.

Banks with a Category A license can buy and sell major currencies in high volumes. This isn’t just limited to small exchanges for travel but includes substantial transactions for international business and investment, meaning Iraqi banks can now better support large foreign currency needs. This is important to our investment.

Think about the recent announcements.

• Iraq established a exchange syndicate.
• XRP & XLM became official currencies.
• The 2025 budget was approved.
• They are supposed to select a new parliament speaker today.
• The Dinar is recovering locally. Which is purchasing power.
• The Oil & Gas Sectors signed more contracts.
• The Trade Bank of Iraq is opening new branches.
• The Mosul International Airport was built with international specifications and is 86% complete. (Amazing)

Ladies & Gentlemen Start Your Engines

Why it’s important?

• Resolution of Legislative Stalemate: The speaker’s position had been vacant since November 2023, leading to a legislative impasse. Al-Mashhadani’s election ends this nearly year-long vacuum, enabling the parliament to resume its full legislative functions.

• Facilitation of Critical Legislation: With a functioning parliament, there is renewed potential to address and pass critical laws that have been delayed, such as the Federal Oil and Gas Law. This law is crucial for defining the management and distribution of Iraq’s oil resources, a matter that has been under debate for over 15 years.

• Advancement of Monetary Reforms: A stable legislative environment is essential for implementing monetary reforms aimed at economic stabilization and growth. Al-Mashhadani’s leadership can provide the necessary momentum to enact policies that enhance the financial sector’s efficiency and transparency.

Implications for Iraq’s Future:

The successful passage of the Oil and Gas Law would clarify the roles of federal and regional authorities in resource management, potentially reducing conflicts and attracting foreign investment. Similarly, monetary reforms could lead to a more stable currency and improved economic conditions, benefiting the Iraqi populace.

Source(s):
https://x.com/Prolotario1/status/1852005086739783769
https://x.com/Prolotario1/status/1852090132439994580

https://dinarchronicles.com/2024/10/31/ariel-prolotario1-ladies-and-gentlemen-start-your-engines/

New BRICS Financial Frameworks Pave the Way for Global Currency Reset

New BRICS Financial Frameworks Pave the Way for Global Currency Reset

Awake-In-3D    October 30, 2024

Alternative payment platforms, trade partnerships, and currency revaluations: BRICS is paving the way for a new global financial order.

Historical events often evolve in unexpected directions, allowing certain moments to become pivotal in shaping global events. The BRICS summit held in Kazan, Russia, did not immediately rewrite the financial order, but it undoubtedly marked a significant step in the transformation of the global financial landscape.

As the collective influence of BRICS—now expanding with new members—grows, the summit reflected the group’s increasing ambition to challenge Western financial dominance through the creation of alternative financial structures. This movement also signals an impending revaluation of currencies (RV) across multiple regions, aligning with the broader vision of a Global Currency Reset (GCR).

The Kazan summit demonstrated that BRICS, originally composed of Brazil, Russia, India, China, and South Africa, is no longer content with being a mere economic club. With the inclusion of 13 new members from Africa, Latin America, Central Asia, and Southeast Asia, BRICS is transforming into a platform that fosters a new financial framework, one that bypasses the restrictive conditions of the IMF and World Bank. This shift indicates that the BRICS coalition is establishing the foundation for global currency rebalancing, leveraging sovereign payment platforms, trade partnerships, and new financial infrastructures to reduce dependence on the Western-led financial order.

A Long Road to Financial Independence: The Battle Against IMF and World Bank Hegemony

One of the most important outcomes of the Kazan summit was the group’s commitment to wean the Global South off the IMF and World Bank. The BRICS digital investment platform was launched to facilitate funding for developing nations without imposing structural adjustment policies—policies that have long been criticized for perpetuating debt dependency and economic instability. Under the leadership of Dilma Rousseff, the New Development Bank (NDB) aims to offer an alternative financing mechanism that is not tied to Western political agendas.

This financial independence is crucial for nations seeking freedom from the conditionalities attached to IMF loans, which often force governments to adopt austerity measures that stifle economic growth. Additionally, the BRICS grain exchange promises to introduce transparent food trade practices, helping many Global South nations secure their food supply without relying on Western markets or being subject to unilateral sanctions.

However, achieving consensus on these difficult financial matters remains a challenge. The Kazan summit highlighted the complex political dynamics within the group, with Brazil’s veto of Venezuela’s membership drawing criticism from both members and partners. Despite such hurdles, the expansion of BRICS—with countries like Saudi Arabia, Nigeria, and Turkiye expressing serious interest—shows that momentum is building toward the creation of a new financial order and a Global Currency Reset.

The expanded BRICS+ coalition serves as a counterweight to Western financial dominance, opening the door for greater financial cooperation across regions. This is particularly relevant as the coalition pursues alternative currency frameworks, paving the way for currency revaluations (RVs) across multiple countries and supporting the Global Currency Reset.

The New Infrastructure for Global Currency Reset: BRICS Clear and Beyond

The BRICS nations are aware that shifting away from the US dollar’s hegemony will require more than diplomatic declarations. At the Kazan summit, there was significant discussion around BRICS Clear, a sovereign payment system designed to facilitate cross-border transactions using local currencies and digital instruments. This platform aims to reduce the reliance on SWIFT—the international payment network dominated by Western interests—and offers an opportunity for BRICS nations to experiment with currency diversification and gold-backed instruments.

While BRICS Clear and the NDB represent promising steps, the financial restructuring process will not happen overnight. The “UNIT” project—a concept discussed during the summit—envisions the creation of “apolitical money” anchored in a basket of BRICS currencies and gold reserves. Although still in development, such a framework serves as a model for countries seeking to protect their economies from currency volatility and external pressures.

When successfully implemented, these initiatives will initiate currency revaluations (RVs) across the Global South, reflecting the economic realities of a multipolar world rather than the interests of a single reserve currency, in alignment with the Global Currency Reset.

The expansion of BRICS to include strategic players like Saudi Arabia, Turkiye, and Indonesia brings additional financial weight to the coalition. Saudi Arabia, with its vast wealth and influence in the energy sector, could be a key player in stabilizing a new financial order. Russia and China’s mediation of disputes, such as the Ladakh normalization between China and India, also underscores the political cohesion necessary to sustain these financial ambitions.

The connectivity initiatives highlighted during the Kazan summit further demonstrate how geoeconomic integration can facilitate global currency rebalancing. Projects like the Northern Sea Route and the International North-South Transportation Corridor (INSTC) promise to enhance trade flows between Eurasia, Africa, and Asia, offering new pathways for economic cooperation without relying on Western trade routes. This increased connectivity may also facilitate regional currency settlements, strengthening the case for an eventual Global Currency Reset.

Challenges Ahead: Consensus and the Path to 2025

Despite the momentum generated by the Kazan summit, significant challenges remain. Achieving consensus among a diverse group of nations with different economic priorities will require diplomacy and flexibility. The disagreements within the Brazilian government—c****t between Western influence and BRICS ambitions—highlight the internal obstacles that the coalition must navigate.

Looking forward, the Rio G20 summit and Brazil’s BRICS presidency in 2025 will be key moments to assess the coalition’s progress. The timing of the next BRICS summit in July 2025—midway through the year—creates concern about the effectiveness of the group’s agenda-setting. However, a proposal to hold a wrap-up session at the 2025 G20 summit in South Africa could provide a more structured timeline for advancing BRICS’ financial goals.

As the BRICS coalition grows, its ability to reshape the global financial landscape depends on the successful implementation of alternative payment systems, financing platforms, and trade corridors. The Kazan summit demonstrated that the group is serious about moving beyond symbolic declarations toward creating tangible financial alternatives. Yet, the transition to a multipolar currency world will require patience, innovation, and political will.

The Bottom Line: The Emergence of a Global Currency Reset?

The BRICS summit in Kazan did not mark an immediate financial revolution, but it set in motion a process that could reshape the global financial order over the coming years. With new members, alternative payment systems, and expanded trade networks, the BRICS coalition is preparing to challenge the dominance of Western financial institutions. Platforms like BRICS Clear and the NDB demonstrate that currency rebalancing and financial independence are now serious priorities for the coalition.

As the world moves toward a multipolar economic future, the success of BRICS will depend on its ability to maintain unity and create sustainable financial alternatives for its members and partners. If the coalition can overcome internal challenges and continue building on the momentum from Kazan, it is poised to play a leading role in the Global Currency Reset that many have anticipated. For now, the high-speed, multi-nodal train toward a new financial order has left the station—and the Global South is onboard.

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Seeds of Wisdom RV and Economic Updates Friday Morning 11-1-24

Good Morning Dinar Recaps,

UBS ISSUES TOKENIZED USD MONEY MARKET FUND USING ETHEREUM TECH

Today UBS Asset Management announced the launch of its “UBS USD Money Market Investment Fund Token” (“uMINT”) which is “built on Ethereum distributed ledger technology”.

The Singapore fund will only be available through authorized distribution partners. That’s the case for most regulated entities, including BlackRock’s BUIDL money market fund where Securitize is a partner.

Previously UBS has actively engaged with the public Ethereum blockchain, using tokens that require permissions. However, Ethereum technology is also available in private environments. UBS uses both as part of UBS Tokenize, hence we’ve requested clarification, although the fund likely uses public blockchain.

71161633/DNARCPS_dinarrecaps/blog_posts_karen -->

“We have seen growing investor appetite for tokenized financial assets across asset classes,” said Thomas Kaegi, Co-Head of UBS Asset Management APAC. “Through leveraging our global capabilities and collaborating with peers and regulators, we can now provide clients with an innovative solution.”

Tokenized money market funds such as BUIDL, Franklin Templeton’s FOBXX, and now uMINT, currently mainly target the crypto investor class. The funds provide a safe place to park cash and earn yield.

However, in the future there will be a broader demand for these sorts of funds, especially those that are transferrable, enabling the ability to switch in and out of the funds almost instantly. 

That compares to typical funds that tend to have once a day redemptions. This feature is appealing beyond crypto investors to corporate treasurers and institutions.

UBS and tokenization
Meanwhile, UBS Asset Management has been active in tokenization for some time. Last year UBS Hong Kong worked with Bank of China Investment (BOCI) for BOCI’s issuance of CNH 200 million ($28m) in digital structured notes on the Ethereum public blockchain.

As part of Singapore’s Project Guardian initiative, UBS has engaged in several pilots. These included the pilot issuance of a tokenized money market fund by UBS Asset Management on the Ethereum blockchain using a Singapore variable capital company (VCC) structure.

Plus, the bank was involved in the first institutional cross border repo trade on a public blockchain in conjunction with DBS and SBI Digital Asset Holdings.

UBS is also engaged in tokenized cash. It was one of the founders of Fnality, the institutional settlement network that tokenizes balances held at a central bank account.

@ Newshounds News™

Source:  Ledger Insight

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BIS DISTANCES FROM PROJECT MBRIDGE AMID BRICS SANCTIONS CONCERNS

Economic sanctions have a profound effect on international financial architecture, it turns out.

The Bank for International Settlements (BIS) has “graduated out” of Project mBridge, the wholesale central bank digital currencies (CBDCs) bridge its Innovation Hub has helped develop since 2021. Nonetheless, the project is many years away from becoming operational, BIS general manager Augustín Carstens said on Oct. 31.

Project mBridge, which uses technology developed by the Hyperledger Foundation, reached the status of minimum viable product and invited private sector participation in June. Banks in China and the United Arab Emirates have heeded the call to join.

Besides the BIS, founding members of the project include the central monetary authorities of China, Hong Kong, Thailand and the UAE. Saudi Arabia joined as a full member in June, and the project has over 25 observing members.

BIS insists it backs sanctions
The reason for Carstens’ eagerness to distance his organization from such a promising project and downplay its significance was obvious at the fireside chat at the Santander International Banking Conference where Carstens was speaking. He was asked:

“I have noted media speculation recently that one of your projects — Project mBridge — could provide the basis for a BRICS initiative to circumvent sanctions. Is that plausible?”

“With respect to political aspects, the noise out there, mBridge is not the ‘BRICS bridge’ — I have to say that categorically,” Carstens answered.

Rather, mBridge was designed to meet the needs of central banks. But Carstens did not say circumventing sanctions with Project mBridge was implausible. Instead:

“The BIS does not operate with any countries, nor can its products be used by any countries that are subject to sanctions […] And all central bank members are in this mindset.”

BRICS — the intergovernmental organization named for founding members Brazil, Russia, India, China and South Africa — has been discussing de-dollarization for years. In that time, Iran, Egypt, Ethiopia, Saudi Arabia and the UAE have joined it, meaning that BRICS and Project mBridge share nearly half their members.

BRICS has long promoted efforts toward de-dollarization of the international financial system. While it has had little success so far in reaching that goal, the emphasis on alternative currency options shown at the group’s summit in Kazan, Russia, earlier in October made international observers shudder.

Reconsidering international transfers
The appeal of Project mBridge for potential sanctions evaders is its circumvention of the correspondent banking system, which is the practical mechanism for imposing sanctions.

Carstens was eager to direct attention to another BIS undertaking — Project Agora — that could provide a basis for the “Finternet” concept of international financial architecture he introduced in April.

The Bank of France (representing the Eurosystem), Bank of Japan, Bank of Korea, Bank of Mexico, Swiss National Bank, Bank of England and the Federal Reserve Bank of New York are the participants in Project Agora — no BRICS members. Crucially, Project Agora maintains the correspondent banking system.

@ Newshounds News™

Source:  CoinTelegraph

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BOB LOCK JOINS THE CONSTITUTION CALL FRIDAY NIGHT WITH SILVER 57 JIM, MASON, R JAX AND LOWTIDE  |  Youtube

Friday  Nights Live - ask your questions
JOIN Link 

Call Schedule:
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 Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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News, Rumors and Opinions Friday AM 11-1-2024

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

RV Excerpts from the Restored Republic via a GCR: Update as of Fri. 1 Nov. 2024

Compiled Fri. 1 Nov. 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Thurs. 31 Oct. Wolverine: “It’s time to go. It’s about here. Maybe within 24 hours. I heard from a Paymaster that’s it’s not as easy as it appears. There’s a lot of work to make it go.”

Wed. 30 Oct. 2024 FRANK-INFORMADOR The Whales: The Main Leaders of All Countries have been called to receive THE PAYMENTS AND TRAINING. These, in turn; will train and notify the payments to all Group and Social Leaders; These, will be made through traditional banking in their accounts within the QFS System. Thank you very much. We appreciate your patience.

Thurs. 31 Oct. Bruce:

This weekend NESARA/GESARA should start.

On Fri. 1 Nov. the USTN should be gold backed and our official currency.

The International Rate on the Dinar is (allegedly) out and trading in the Middle East. It might not make it on the screen tomorrow, perhaps by next Wed. 6 Nov.

The Banks are to receive three emails: one from the US Treasury, one from Wells Fargo and one from another source. Most have received their first email. They will receive the second from the US Treasury this afternoon. The third one will (allegedly) occur tomorrow Fri. 1 Nov. from Wells Fargo.

Some Redemption Center staff went in today Thurs. 31 Oct.

Bond Holders do not yet have access to their accounts. They are looking for emails to come out on Sat. or Sun Nov. 2, 3. Those emails will tell them when they can receive access to those funds.

Tier 4B (us, the Internet Group) is looking to receive emails for appointments at the Redemption Center Sun or Mon. Tues is Election Day. We could exchange by next Wed. 6 Nov.

Global arrests should be complete by Sat. 2 Nov. The Elite arrests in the US should complete on Fri. 1 Nov.

~~~~~~~~~~

Global Financial Crisis:

Thurs. 31 Oct. 2024: $953 billion was wiped out from the US stock market today.

Read full post here:  https://dinarchronicles.com/2024/11/01/restored-republic-via-a-gcr-update-as-of-november-1-2024/

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

Walkingstick  [Iraqi Bank Manager Friend Aki Update]  They are about to open many hundreds of ATM exchange enters outside of Iraqi borders.  We call them currency exchange centers.  Aki owns 90 of these centers.  It is not him by himself.  Aki is part of a conglomerate.  His business partners, there's 18 of them, they own 90 of these 'currency exchange centers' around the world.  The exchange centers are under the control of the GOI and CBI.  They both control the exchange rate of the Iraqi dinar.

Frank26  [Iraq boots-on-the-ground report]   FIREFLY:  They talked about about the deletion of the zeros project on the television today.  FRANK: The monetary reform education is very loud.  It's coming to you at an increased speed.  So much is being thrown a you to prepare you.  Again, I strongly feel this year not next year.  I don't want to exaggerate but it's almost to the point that every day they are explaining to you Iraqi citizens why that are lifting the three zeros to give you purchasing power to your currency. This is a dream come true.

GOLD... CENTRAL BANKS ARE BUYING ALL OF IT! AND THAT SHOULD TELL YOU SOMETHING.

Greg Mannarino:  10-31-2024

https://www.youtube.com/watch?v=SLLcoX9vmR8

This Is EXACTLY How The 2008 Crash Started

Lynette Zang:  10-31-2024

Today we are going over another bank failure, what it means for you and your money, and why it's scary close to what happened in 2008.

https://www.youtube.com/watch?v=YHNy3Sku41o

“Tidbits From TNT” Friday Morning 11-1-2024

TNT:

Tishwash:  The CEO of the Iraq Stock Exchange has been relieved of his post.

The Iraq Stock Exchange announced on Thursday the dismissal of the market's CEO, Taha Ahmed Abdul Salam, from his position.

The market said in a statement, seen by "Al-Eqtisad News", that the market's CEO, Taha Ahmed Abdul Salam, was dismissed from his position today, Thursday.

It added that "the head of the Securities Commission, Faisal Al-Haimus, was also chosen to replace Abdul Salam."   link

Tishwash:  In cooperation with a foreign advisor.. A parliamentary committee announces its efforts to amend the Oil Ministry Law

The Parliamentary Oil and Gas Committee announced today, Friday, a move to amend the Ministry of Oil Law 101 of 1976, while indicating that the draft will be presented to the Council of Ministers soon.

MP Basem Naghmish, a member of the Oil and Gas Committee, said: “A subcommittee was formed within the Oil and Gas Committee to review the legislation related to the oil sector, and it was called the “Oil Legislation Committee”.
He explained that “the committee is working to review several laws, with the aim of amending them to suit the current requirements of the oil sector”, indicating that “among these laws is the Oil Ministry Organization Law No. (101) of 1976, which is considered an old law that was amended about three times, the last of which was in 1982”.

He added that “the ministry witnessed many technological and administrative developments during the period after 2003, as the work of the Oil Ministry expanded and formations multiplied, in addition to the creation of some formations”.

He pointed out that “the draft to amend the law is still in the preparation phase, and cooperation is being done with a foreign consultant contracted with the ministry to provide his comments, and then the draft will be submitted to the Council of Ministers and to the advisors, and then to the State Council, in order to study the extent of its consistency with the legal system in the country”.

He continued: “After that, the draft will return to the Council of Ministers and then to House of Representatives to complete legislative procedures  link

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Tishwash:  Al-Sudani congratulates Al-Mashhadani: We renew the legal and constitutional commitment to support the oversight role of the House of Representatives

Prime Minister Mohammed Shia Al-Sudani congratulated Mahmoud Al-Mashhadani on his election as Speaker of Parliament today, Thursday.

Al-Sudani said in a tweet on the {X} platform: “I extend my congratulations to Mahmoud Al-Mashhadani on the occasion of his election as Speaker of the House of Representatives. I also congratulate the members of the Council and all national political forces for their decision on this important constitutional entitlement, in a step that serves to complete the service of our people, which is a goal that the government has adopted as a slogan since the beginning of its work.”

He added, "On this occasion, the government affirms its determination to continue implementing its government service development programme, in full cooperation with the constitutional authorities, foremost of which is the legislative and oversight authority, represented by the House of Representatives."

Al-Sudani renewed "the legal and constitutional commitment to support the oversight role of the House of Representatives, which complements the work of the government and consolidates its performance in its priorities, by combating corruption and implementing the required reforms," ​​concluding, "We ask God Almighty for success and guidance for the Speaker of the House of Representatives and the esteemed Council in performing its duties, and everything that our honorable people await."  link

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Tishwash:  Al-Sudani's advisor identifies 3 priorities for the Iraqi economy: We are working on a new approach

 The Prime Minister's Representative, Technical Advisor and Head of the Sovereign Loans Initiative, Mohammed Sahib Al-Daraji, confirmed today, Thursday, that the private sector is a fundamental pillar in the government's new economic plan, while pointing to the government's efforts to reduce the transfer of hard currency and support national projects.

Al-Daraji said in a speech during the first Iraqi Economic Forum that "the Iraqi government has begun taking real steps to support the Iraqi economy, as it has changed the philosophy of the economy that suffered from a lack of clarity in the economic vision for more than twenty years."

He pointed out that "the government is working on a new approach that considers the private sector a fundamental pillar and seeks to integrate its outputs into the national product," noting that "the government provides special support to the investment and business environment sectors, as it seeks to separate direct investment and provide an appropriate environment for the private sector to participate in projects. The government also encourages partnerships with foreign companies to demonstrate developments in the customs and tax system, such as unifying taxes and customs tariffs across regions, and exempting foreign companies from some special taxes."

He pointed out that "Iraq has begun to guarantee the private sector before international financial institutions through the Sovereign Guarantees Initiative, and has moved towards establishing an international market for carbon bonds to support project financing."

He pointed out the "three priorities of the Iraqi economy: localizing industries, integrating with global financial institutions, and developing competencies for the public and private sectors," adding that "the Iraqi market is open to global companies, especially in the construction and clean energy sectors, and that there is a trend to support the private sector through new legislation such as laws to protect intellectual property and partnerships between the public and private sectors."

He added, "The government supports the economy based on partnership with the private sector, with a focus on reducing the transfer of hard currency abroad.

He expressed his "hope that these conferences will produce outcomes that support the current government's orientations, which is the most attentive to the private sector and the most involved in decisions," noting "the presence of representatives from the private sector on the Development Fund's Board of Directors and within the Prime Minister's official delegations as a message of support for businessmen."  link

Mot .. Ooooooh Nooooooo -- Better Get Ready!!!!! 

Mot ....... Let the Truth Be Known!!! 

Seeds of Wisdom RV and Economic Updates Thursday Evening 10-31-24

Good Evening Dinar Recaps,

HEDERA WELCOMES NAIROBI SECURITIES EXCHANGE TO GOVERNING COUNCIL, ACCELERATING SECURITIES TOKENIZATION IN AFRICA

▪️The Nairobi Securities Exchange (NSE) has joined the Hedera Governing Council to advance tokenization in Kenya’s capital markets, a significant move for both the local economy and the broader African financial landscape.

▪️By joining the Hedera Council, the NSE will provide African investors with access to innovative digital assets and financial products.

Nairobi Securities Exchange (NSE), the best-performing market in Africa has joined the decentralized Hedera Governing Council, the organization behind Hedera Hashgraph, in a bid to expedite the adoption of tokenized securities within Kenya’s capital markets. As the 32nd member of the Hedera Council, the NSE joins a global network that includes companies like Google, IBM, and LG, which oversee Hedera’s governance.

According to the Morgan Stanley Capital International (MSCI) ranking, the NSE earned the title of Africa’s top-performing market in the first nine months of 2024. This displays the strong trust investors have in it. Furthermore, this reward showcases how the NSE is the cornerstone of prosperity to Kenya’s economic progress.

Here’s How Hedera Will Transform Digital Finance in Africa
As a key part of this alliance, the NSE brings digital and tokenized assets directly into the mainstream. For context, Tokenization is the process of converting real assets like stocks, bonds, and commodities into digital tokens on a blockchain. This collaboration also aims to modernize Africa’s financial markets by using Hedera’s advanced Distributed Ledger Technology (DLT). Hedera’s DLT allows multiple members to maintain their own identical copy of a shared ledger.

Through Hedera’s Hashgraph Consensus, created by Leemon Baird, co-founder and chief scientist of Hedera the NSE will have several benefits. This includes Secure, real-time, and low-cost payment settlement allowing users to transact using their preferred cryptocurrency. Additionally, it offers decentralized, scalable, and publicly verifiable data logs ensuring that all transactions and activities can be audited and verified without relying on a central authority.

The mechanism allows the network to achieve an impressive throughput of over 10,000 transactions per second. This is achieved by utilizing a unique algorithm that emphasizes speed and efficiency.

Hedera is continually expanding its ecosystem, offering a range of applications and developer tools. Recently, Hedera integrated LayerZero (ZRO), a technology that enables applications to move data across blockchains, into its network to enhance the Hedera Token Service (HTS). This will significantly boost the NSE’s offerings by making the exchange a hub for digital asset trading.

Bill Miller, Co-Chair of the Membership Committee for Hedera, highlighted in the report that the NSE possesses expertise and strong foundations in Africa. As one of the largest economies in Sub-Saharan Africa, Kenya offers an opportunity to accelerate the adoption of digital assets.

With a market capitalization of about $12.65 billion, daily transaction volumes exceeding $100 million, and 63 listed companies across 11 sectors, the NSE provides an ideal foundation for enhancing global capital markets.

Hedera’s advanced technology will enable the NSE to enhance global liquidity and improve access to financial services for African investors, while also strengthening its presence in the digital asset space.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

U.S. TREASURY REPORT PROPOSES CBDC REPLACEMENT FOR PRIVATE STABLECOINS

The U.S. Treasury Department has recommended replacing private stablecoins with government-issued CBDCs, citing concerns about the $120 billion in Treasury bills held as stablecoin collateral and potential market risks.

▪️U.S. Treasury released report suggesting stablecoins should be replaced by CBDCs

▪️Treasury estimates $120B in T-bills bought by stablecoin issuers, with Tether holding $81B

▪️Report warns of potential “fire-sale” risk if major stablecoins collapse

▪️Over 80% of crypto transactions involve stablecoins, with USDT leading in trading volume

▪️Trump opposes CBDCs but his project World Liberty Financial plans to launch a stablecoin

The U.S. Treasury Department has called for the eventual replacement of private stablecoins with government-issued central bank digital currency (CBDC) in a detailed report released Wednesday.

The report highlights mounting concerns over the stablecoin market’s growing influence in the U.S. Treasury bills market.

According to the Treasury’s Office of Debt Management, stablecoin issuers now hold approximately $120 billion worth of Treasury bills as collateral.

Tether, the company behind the USDT stablecoin, accounts for $81 billion of these holdings, making it a major player in the T-bills market.

The 132-page report draws parallels between the current stablecoin landscape and the “wildcat” banking era of the 1800s, when private banks issued their own currencies.

The Treasury suggests that just as government-backed money replaced those private currencies, CBDCs should take over the role currently played by stablecoins in digital transactions.

Stablecoins have become essential to cryptocurrency markets, serving as a bridge between traditional and digital finance.

The Treasury estimates that these digital assets are involved in more than 80% of all crypto transactions. USDT, the largest stablecoin by market volume, processed $53 billion in trades within a 24-hour period.

The report expresses particular concern about the risk of stablecoin depegging events, where these digital currencies lose their intended one-to-one relationship with the U.S. dollar. Several such incidents have occurred in recent years, raising alarm bells about market stability.

The Treasury’s primary worry centers on the possibility of a “fire-sale” scenario. If a major stablecoin issuer like Tether were to face a crisis, it might need to quickly sell its T-bill holdings, potentially disrupting the broader Treasury securities market.

While stablecoin advocates argue that these products enhance dollar dominance by increasing demand for Treasury bills, the report indicates that the Treasury views this relationship differently.

The department suggests that the growing interconnection between stablecoins and traditional financial markets through T-bill holdings poses unnecessary risks.

The political landscape surrounding digital currencies has grown increasingly complex. Several Republican lawmakers have voiced opposition to CBDCs, labeling them as potential tools for government overreach.

Former President Donald Trump has been particularly vocal in his criticism, promising to block CBDC development if reelected.

However, the situation has additional layers of complexity. Trump’s own crypto project, World Liberty Financial, which recently raised $14 million, is reportedly developing a stablecoin.

This project’s team has promoted private stablecoins as a way to support T-bill purchases and strengthen dollar supremacy.

The Treasury report acknowledges that stablecoins currently represent a relatively small portion of the overall T-bills market. However, it warns that continued growth could increase the risk of market disruptions if stablecoin-related instability occurs.

The document provides detailed data about the current state of stablecoin holdings. Beyond Tether’s $81 billion position, other stablecoin issuers collectively hold tens of billions in Treasury securities as backing for their digital currencies.

The report examines various stablecoin failures and depegging events from recent years, using these incidents to support its argument for transitioning to CBDCs.

These examples serve as cautionary tales about the potential risks of allowing private digital currencies to become too deeply embedded in the financial system.

Trading volume statistics included in the report underscore the growing importance of stablecoins in crypto markets. The data shows that stablecoin trading volumes often exceed those of traditional cryptocurrencies like Bitcoin.

@ Newshounds News™

Source:  Blockonomi

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🌱 KIM CLEMENTS SAW THE NEXT 2024 NOV. 2024  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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