Seeds of Wisdom RV and Economic Updates Tuesday Morning 11-5-24
Good Morning Dinar Recaps,
COINBASE’S L2 BASE WELCOMES FRANKLIN TEMPLETON’S TOKENIZED FUND
Coinbase’s Ethereum scaling solution has onboarded its first large wealth manager, Franklin Templeton, the $1.5 trillion Wall Street firm.
Franklin Templeton announced that users can trade shares of its OnChain U.S. Government Money Market Fund, FOBXX, on the layer-2 network Base.
Good Morning Dinar Recaps,
COINBASE’S L2 BASE WELCOMES FRANKLIN TEMPLETON’S TOKENIZED FUND
Coinbase’s Ethereum scaling solution has onboarded its first large wealth manager, Franklin Templeton, the $1.5 trillion Wall Street firm.
Franklin Templeton announced that users can trade shares of its OnChain U.S. Government Money Market Fund, FOBXX, on the layer-2 network Base.
FOBXX, with $410 million in assets, has already launched on five other blockchains, including Arbitrum, Polygon, Avalanche, Aptos, and Stellar, making Base the sixth blockchain to support Franklin Templeton’s tokenized Treasury fund.
The announcement represents another crossover between traditional and decentralized finance markets. Fellow asset manager BlackRock recently launched its USD Institutional Digital Liquidity Fund, also known as BUIDL, on Ethereum’s mainnet partnered with ETH-native protocols like Ethena Labs.
While BlackRock launched on a layer-1 network and maintains the largest on-chain money market, Franklin Templeton has focused on layer-2 networks for its FOBXX fund.
L2’s run off layer-1 blockchains but provide cheaper and quicker transactions. As such, they offer optimized environments for on-chain money markets and tokenized treasuries.
Franklin Templeton’s FOBXX was the first money market fund to employ decentralized technology for trading, and the firm picked L2 Arbitrum as its first home.
Launching on Coinbase’s layer-2 may further boost Base’s growth. Since going live in 2022, the network has attracted over $2.6 billion in user deposits and was the fifth-largest decentralized finance blockchain at the time of writing, according to DeFiLlama.
Base, launched by the largest U.S.-based crypto exchange, also ranks as Ethereum’s top scaling solution based on active addresses, total value locked, and 24-hour volume.
@ Newshounds News™
Source: Crypto News
~~~~~~~~~
HKEX TO USE SMART CONTRACTS, DLT TO AUTOMATE ETP ISSUANCE, REDEMPTION
Today the Hong Kong Exchanges and Clearing (HKEX) announced plans to automate the creation and redemption of some exchange traded products (ETPs) in 2025. The new web based platform will use distributed ledger technology and smart contracts and is subject to regulatory approval.
The aim is to boost efficiency and encourage more secondary market activity.
“Speed and efficiency are critical in an increasingly dynamic market environment,” said Jean-Francois Mesnard-Sense. “HKEX is pleased to introduce this new digital enhancement.
It will not only streamline operations for our market participants, but also drive more liquidity in the product ecosystem, supporting the vibrancy of our ETP marketplace and strengthening Hong Kong’s role as an international financial centre.”
While HKEX did not use the term real time, in theory an automated platform could support this. Given stock exchanges are not retail facing, it’s usually market makers that would trigger the creation and redemption process.
HKEX didn’t disclose the technology used, and hasn’t responded to our query by publication time. However, HKEX’s previous DLT activity for its HKEX Synapse settlement platform launched in 2023 uses Digital Asset’s DAML and Canton.
ETPs in Hong Kong are growing at a rate of 29 percent a year since 2020. Average daily turnover this year has been HK$17.9 billion (US$2.3 billion).
In Europe Deutsche Börse, which also uses DAML technology, developed its D7 issuance platform. It also automates workflow and has proven popular for structured products with tens of thousands of issuances per month.
@ Newshounds News™
Source: Ledger Insights
~~~~~~~~~
THE DAO DILEMMA: STRIVING FOR DECENTRALIZATION | 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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Newshound's News Telegram Room Link
Q & A Classroom Link
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News, Rumors and Opinions Tuesday AM 11-5-2024
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. 5 Nov. 2024
Compiled Tues. 5 Nov. 2024 12:01 am EST by Judy Byington
Judy Note: What We Think We Know as of Tues. 5 Nov. 2024:
A Global Currency Reset to gold/asset-backed currencies has already begun including activation of the GESARA/NESARA Laws and debt forgiveness for The People and nations Worldwide.
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. 5 Nov. 2024
Compiled Tues. 5 Nov. 2024 12:01 am EST by Judy Byington
Judy Note: What We Think We Know as of Tues. 5 Nov. 2024:
A Global Currency Reset to gold/asset-backed currencies has already begun including activation of the GESARA/NESARA Laws and debt forgiveness for The People and nations Worldwide.
As part of GESAR/NESARA Taxpayer Dollars will be returned to The People instead of being paid to the Cabal’s UK Crown and Vatican which has (allegedly) stolen those monies since the early 1900s.
The below were rumored dates which were subject to change (anything could happen):
Tues. 5 Nov. 2024 Cyber Attack, election results, change of President, get 800s
Thurs. 7 Nov. 2024 begin scheduling Tier4b (us, the Internet Group) appointments
Tues. 12 Nov. 2024 begin Tier4b appointments
~~~~~~~~~~~
Global Currency Reset:
Mon. 4 Nov. 2024: New Development Bank President Dilma Rousseff announced that there has been an agreement in principle to use a new settlement currency called the Unit, which will be backed 40 percent by gold and 60 percent by local currencies in BRICS countries. https://www.nasdaq.com/articles/how-would-new-brics-currency-affect-us-dollar-updated-2024#:~:text=%22(New%20Development%20Bank%20President%20Dilma,BRICS%20union%20%E2%80%94%20the%20BRICS%2B%20countries.
~~~~~~~~~~
Mon. 4 Nov. 2024 BREAKING! High-Level Leaks Confirm Imminent Collapse of the Current Financial System—EBS, QFS, and NESARA Rollout Are Ready! …Charlie Ward on Telegram
The cracks in the old system are growing, and the truth is spilling out faster than they can cover it up. Whispers about the Quantum Financial System (QFS), the Emergency Broadcast System (EBS), and NESARA have become roaring truths among those in the know.
The signs are everywhere, and those who see know what’s coming. The QFS is on its way. The EBS will soon be triggered. NESARA is about to be implemented. These leaks are not accidents—they are warnings. The massive changes are already in motion.
~~~~~~~~~~~
Mon. 4 Nov. 2024 BREAKING: Tier 4B Internet Group Activated – Military Coup Underway, Martial Law Imminent as GESARA, Earth Alliance, and White Hats Prepare the Quantum Financial System to Wipe Out the Deep State! …Ben Fulford on Telegram
The gloves are off, and the Tier 4B Internet Group is active, signaling a seismic shift that will shake the world to its core. This isn’t just a platform; it’s the start of a movement for financial freedom and sovereignty.
The Quantum Financial System (QFS) is now in play, a safeguard against a corrupted financial system. This moment isn’t for questioning—it’s a clarion call for patriots ready to reclaim control. While the masses sleep, the QFS is laying the foundation for a new awakening.
Project Phoenix: With the NESARA/GESARA alliance and Starlink, Project Phoenix is on the horizon.
Read full post here: https://dinarchronicles.com/2024/11/05/restored-republic-via-a-gcr-update-as-of-november-5-2024/
************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Some new financial guru here saying the new hybrid monetary plan will bring more alliance on the dinar instead of the dollar restrictions. Saying it will make the dinar a base currency and a base currency is the main currency in a group of currencies that are traded in the international Forex...He's saying they are going on Forex soon. FRANK: When they talk to you about a base currency, they are trying to tell you your nation will become a financial central hub with many currencies coming in from around the world that will play an important part in the international float of the Iraqi dinar in order to reach the real effective exchange rate. Forex is but one example of how they will do this.
Militia Man They're not using the dinar today yet that we know of on the Forex. But what they're saying is to my understanding is as of the 15th to 18th of October, they're getting ready to use domestic currency to support the exchange rate peg, domestic liquidity management. I hope you guys understand that...because this is pretty powerful stuff coming from the CBI.
Bond Selloff Imperils Stock Markets | Alasdair Macleod
Liberty and Finance: 11-4-2024
Alasdair Macleod discusses the current vulnerabilities of equity markets due to rising bond yields, the implications for ordinary investors and the financial system, and the geopolitical dynamics surrounding currencies.
He emphasizes the importance of gold and silver as real money and critiques the actions of central banks and financial institutions.
MacLeod also addresses the potential future of gold-backed bonds and the challenges facing the dollar and other fiat currencies.
INTERVIEW TIMELINE:
0:00 Intro
0:53 Stock market
7:00 Rising US bonds yields
14:00 Impact of higher yeilds
16:30 Banking system
21:22 BIS & BRICS
24:42 BRICS & gold
30:17 Systemic problems
33:19 Trump & gold currency
36:00 Gold price
Seeds of Wisdom RV and Economic Updates Monday Evening 11-4-24
Good Evening Dinar Recaps,
SINGAPORE ADVANCES ASSET TOKENIZATION WITH NEW MAS FRAMEWORKS
The Monetary Authority of Singapore is pulling together the projects and participants needed for the next step in its asset tokenization trials.
The Monetary Authority of Singapore (MAS) has announced a multipronged effort to advance the commercialization of asset tokenization. To achieve its goals, the MAS has drawn from various projects and produced new frameworks to provide guidance.
Good Evening Dinar Recaps,
SINGAPORE ADVANCES ASSET TOKENIZATION WITH NEW MAS FRAMEWORKS
The Monetary Authority of Singapore is pulling together the projects and participants needed for the next step in its asset tokenization trials.
The Monetary Authority of Singapore (MAS) has announced a multipronged effort to advance the commercialization of asset tokenization. To achieve its goals, the MAS has drawn from various projects and produced new frameworks to provide guidance.
Scaling up successful tokenization tests
Speaking at the first MAS Layer One Summit, deputy managing director Leong Sing Chiong reviewed the successes of the large financial institutions participating in Project Guardian in demonstrating the potential for tokenization in foreign exchange and funds. More than 40 institutions have carried out more than 15 trials across seven jurisdictions using six currencies.
The central banker also identified the limitations of those trials:
“No one has really succeeded in achieving scale. Many promising use cases have not yet gained industry wide traction. Further, there is a need for supporting infrastructure to enable good use cases to scale beyond individual networks.”
To deploy tokenized assets at scale, liquidity, infrastructure, standardized frameworks and common settlement assets are needed, he said. The MAS is addressing each of those issues.
A masterplan for commercialization
Launched in 2022, Project Guardian already facilitates deepening liquidity through capital raising, secondary trading and asset servicing and settlement, the MAS said in a statement.
To address infrastructure needs, the MAS’s Global Layer One, launched in 2023 and developed by BNY, Citi, JPMorgan, MUFG and Societe Generale-FORGE, will expand its scope in the coming year. Euroclear and HSBC will join the initiative as it develops principles for use and its ecosystem.
The Project Guardian industry group created two frameworks for the implementation of tokenization that were also published on Nov. 4.
The Guardian Fixed Income Framework integrates international organizations’ standards and principles into a guide to implementing tokenization in debt capital markets.
The Guardian Funds Framework recommends best practices for fund tokenization. This includes the Guardian Composable Token Taxonomy.
Finally, the SGD Testnet will be made available to facilitate access to mutually agreeable tokenized money for payments and securities settlements. Participants in Project Guardian and Project Orchid will participate using Singapore dollar wholesale central bank digital currency (CBDC).
Project Orchid developed use cases for retail CBDC and introduced the concept of purpose-bound money — a form of programmability — which will be implemented on the testnet.
Commercialization is the logical next step when a project achieves its goals. mBridge announced its launch as a minimum viable product in October 2023.
@ Newshounds News™
Source: CoinTelegraph
~~~~~~~~~
THE DAO DILEMMA: STRIVING FOR DECENTRALIZATION
The idea of a decentralized autonomous organization (DAO) is kind of incredible, when you really think about it.
What is a DAO?
A DAO is like a private company that is perfectly okay with hundreds of token (equity) holders debating publicly on an open forum about product and organizational strategy.
A private company where the core security underlying the company’s product (smart contracts) are fully viewable, where all the data you need to write a scathing data analysis on a company you don’t like is readily available.
In the non-Web3 world, markets would kill to have any clue as to what their competitors are thinking of launching, let alone detailed forum discussions of how that conversation is taking shape.
Having all that information out in the open would invite endless media and regulatory scrutiny, taking precious time away from actually building to fend off annoying lines of inquiry.
These are handicaps that no startup wants. And yet in Web3, $21.4 billion of value rests on these norms. In Web3, it’s par for the course.
Of course, most DAOs are actually only partially decentralized.
When Uniswap announced its plans around Unichain last month, Stanford Blockchain Club’s head of governance Billy Gao said the announcement left most DAO delegates “in the dark,” and excluded them via their lack of “a voice at any stage of the process — whether through forums, private discussions or any other means.”
It’s not just Uniswap either. Optimism DAO’s governance contracts are not controlled by its tokenholders, so voting with OP largely serves as an informal signal to the Optimism Foundation (for now).
And it’s widely known that most DAO treasuries or smart contracts are still controlled by a few trusted stakeholders via a multisig wallet.
So when we tout DAOs as decentralized autonomous organizations, in truth, there are many shades of gray within that spectrum of decentralization. The devil’s in the details.
When I asked Tally founder and CEO Dennison Bertram about it, he begrudgingly agreed that DAOs have a ways to go regarding decentralization, but also that partial transparency is still better than complete opaqueness, which would be “much more dangerous.”
Bertram pointed to how Twitter/X under Elon Musk could unilaterally turn off its API, or how Facebook choked off the wildly popular FarmVille game by Zynga from its platform.
Yet, despite the many shortcomings around DAOs, the real silver lining — I think — is the industry’s overarching commitment to the values of decentralization, which to me seems wildly underrated.
DAOs can hand-wave and virtue signal about decentralizing all they like, but the fact that they operate in an industry where “decentralization” is still held up as a beloved virtue is what allows the crypto industry to call out and question the centralization vectors that DAOs are still riddled with.
That informal institution has slowly been eroded and will only continue to do so as crypto continues to go “mainstream.” Cherish it while it still lasts.
@ Newshounds News™
Source: Blockworks
~~~~~~~~~
🌱 KEY CHANGES FOR TAXPAYERS IN 2025 | 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” 11-4-2024
West Panic: China Takes Over mBridge, Saudi Oil For RMB Next, Gold Is Leaving London
Sean Foo: 11-4-2024
The Bank of International Settlements has officially dumped the Bridge project. This leaves China with near total control of the payments system opening up a ton of scary possibilities.
Oil trade in the Yuan could be next.
Meanwhile, central banks like India are escalating their gold repatriation. Here's what you must know.
West Panic: China Takes Over mBridge, Saudi Oil For RMB Next, Gold Is Leaving London
Sean Foo: 11-4-2024
The Bank of International Settlements has officially dumped the Bridge project. This leaves China with near total control of the payments system opening up a ton of scary possibilities.
Oil trade in the Yuan could be next.
Meanwhile, central banks like India are escalating their gold repatriation. Here's what you must know.
Timestamps & Chapters:
0:00 West Dumps mBridge On China
2:41 The Petroyuan Risk Escalates
5:45 BRICS Giant Pulls Out Its London Gold
6:54 Sponsor: Indigo Precious Metals
8:18 Central Banks Want Their Gold Back
9:31 mBridge Dump Will Hurt US Assets
12:00 Exit Dollars, Enter Gold
THE STOCK MARKET. We Have TWO MAJOR PROBLEMS. And Either One Can Cause A MELTDOWN.
Greg Mannarino: 11-4-2024
World's Most Powerful & Secretive Financial Institution: What It's Done & Planning Next – Adam LeBor
Kitco News: 11-4-2024
Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews Adam LeBor, Author of 'Tower of Basel,' who dives into the history of the world's most influential and secretive financial institution.
The interview pulls back the curtain on the mysteries of the Bank for International Settlements (BIS) – the central bank of central banks. LeBor explains the BIS's controversial history from its inception to its role in global financial crises and its influence on modern banking regulations.
He also outlines the role gold plays. LeBor explains BIS's project mBridge, and its significance going forward, shedding light on the elusive bank's operations and the potential future shifts in the financial world.
00:00 Introduction: the BIS
04:38 History of the BIS & Its Role in Global Finance
09:42 The BIS's Headquarters & Immunities
21:26 The BIS's Controversial Past
37:06 The London Gold Pool & Gold Manipulation
42:17 The BIS & the Euro
45:24 Post-War European Economy & the BIS
46:21 Formation of the European Central Bank
48:01 The Euro and National Sovereignty
54:18 BIS's Role in Financial Crises
55:58 Gold and the Basel Accords
57:27 Project mBridge & CBDCs
01:09:24 Concerns Over CBDCs & Financial Control
Seeds of Wisdom RV and Economic Updates Monday Afternoon 11-4-24
Good Afternoon Dinar Recaps,
THE DAO DILEMMA: STRIVING FOR DECENTRALIZATION
The idea of a decentralized autonomous organization (DAO) is kind of incredible, when you really think about it.
What is a DAO?
A DAO is like a private company that is perfectly okay with hundreds of token (equity) holders debating publicly on an open forum about product and organizational strategy.
Good Afternoon Dinar Recaps,
THE DAO DILEMMA: STRIVING FOR DECENTRALIZATION
The idea of a decentralized autonomous organization (DAO) is kind of incredible, when you really think about it.
What is a DAO?
A DAO is like a private company that is perfectly okay with hundreds of token (equity) holders debating publicly on an open forum about product and organizational strategy.
A private company where the core security underlying the company’s product (smart contracts) are fully viewable, where all the data you need to write a scathing data analysis on a company you don’t like is readily available.
In the non-Web3 world, markets would kill to have any clue as to what their competitors are thinking of launching, let alone detailed forum discussions of how that conversation is taking shape.
Having all that information out in the open would invite endless media and regulatory scrutiny, taking precious time away from actually building to fend off annoying lines of inquiry.
These are handicaps that no startup wants. And yet in Web3, $21.4 billion of value rests on these norms. In Web3, it’s par for the course.
Of course, most DAOs are actually only partially decentralized.
When Uniswap announced its plans around Unichain last month, Stanford Blockchain Club’s head of governance Billy Gao said the announcement left most DAO delegates “in the dark,” and excluded them via their lack of “a voice at any stage of the process — whether through forums, private discussions or any other means.”
It’s not just Uniswap either. Optimism DAO’s governance contracts are not controlled by its tokenholders, so voting with OP largely serves as an informal signal to the Optimism Foundation (for now).
And it’s widely known that most DAO treasuries or smart contracts are still controlled by a few trusted stakeholders via a multisig wallet.
So when we tout DAOs as decentralized autonomous organizations, in truth, there are many shades of gray within that spectrum of decentralization. The devil’s in the details.
When I asked Tally founder and CEO Dennison Bertram about it, he begrudgingly agreed that DAOs have a ways to go regarding decentralization, but also that partial transparency is still better than complete opaqueness, which would be “much more dangerous.”
Bertram pointed to how Twitter/X under Elon Musk could unilaterally turn off its API, or how Facebook choked off the wildly popular FarmVille game by Zynga from its platform.
Yet, despite the many shortcomings around DAOs, the real silver lining — I think — is the industry’s overarching commitment to the values of decentralization, which to me seems wildly underrated.
DAOs can hand-wave and virtue signal about decentralizing all they like, but the fact that they operate in an industry where “decentralization” is still held up as a beloved virtue is what allows the crypto industry to call out and question the centralization vectors that DAOs are still riddled with.
That informal institution has slowly been eroded and will only continue to do so as crypto continues to go “mainstream.” Cherish it while it still lasts.
@ Newshounds News™
Source: Blockworks
~~~~~~~~~
SINGAPORE ADVANCES ASSET TOKENIZATION WITH NEW MAS FRAMEWORKS
The Monetary Authority of Singapore is pulling together the projects and participants needed for the next step in its asset tokenization trials.
The Monetary Authority of Singapore (MAS) has announced a multipronged effort to advance the commercialization of asset tokenization. To achieve its goals, the MAS has drawn from various projects and produced new frameworks to provide guidance.
Scaling up successful tokenization tests
Speaking at the first MAS Layer One Summit, deputy managing director Leong Sing Chiong reviewed the successes of the large financial institutions participating in Project Guardian in demonstrating the potential for tokenization in foreign exchange and funds. More than 40 institutions have carried out more than 15 trials across seven jurisdictions using six currencies.
The central banker also identified the limitations of those trials:
“No one has really succeeded in achieving scale. Many promising use cases have not yet gained industry wide traction. Further, there is a need for supporting infrastructure to enable good use cases to scale beyond individual networks.”
To deploy tokenized assets at scale, liquidity, infrastructure, standardized frameworks and common settlement assets are needed, he said. The MAS is addressing each of those issues.
A masterplan for commercialization
Launched in 2022, Project Guardian already facilitates deepening liquidity through capital raising, secondary trading and asset servicing and settlement, the MAS said in a statement.
To address infrastructure needs, the MAS’s Global Layer One, launched in 2023 and developed by BNY, Citi, JPMorgan, MUFG and Societe Generale-FORGE, will expand its scope in the coming year. Euroclear and HSBC will join the initiative as it develops principles for use and its ecosystem.
The Project Guardian industry group created two frameworks for the implementation of tokenization that were also published on Nov. 4. The Guardian Fixed Income Framework integrates international organizations’ standards and principles into a guide to implementing tokenization in debt capital markets.
The Guardian Funds Framework recommends best practices for fund tokenization. This includes the Guardian Composable Token Taxonomy.
Finally, the SGD Testnet will be made available to facilitate access to mutually agreeable tokenized money for payments and securities settlements. Participants in Project Guardian and Project Orchid will participate using Singapore dollar wholesale central bank digital currency (CBDC).
Project Orchid developed use cases for retail CBDC and introduced the concept of purpose-bound money — a form of programmability — which will be implemented on the testnet.
Commercialization is the logical next step when a project achieves its goals. mBridge announced its launch as a minimum viable product in October 2023.
@ Newshounds News™
Source: CoinTelegraph
~~~~~~~~~
🌱 10 CRUCIAL QUESTIONS TO ASK WHEN VETTING A BANK FOR WEALTH MANAGEMENT | 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 Monday Afternoon 11-4-2024
KTFA:
Clare: Extension of the legislative term of the Iraqi parliament for an additional month to pass laws
11/4/2024
Member of the Parliamentary Legal Committee, Mohammed Al-Khafaji, revealed on Monday that the current legislative session of the Council of Representatives ends on the 9th of this month, and that extending it for another month is subject to Article 58 of the Iraqi Constitution.
He added in a statement to Shafaq News Agency that according to this article, the legislative term can be extended at the request of the President of the Republic, the Prime Minister, the Speaker of the House of Representatives, or 50 representatives, provided that the extension is approved by a vote of the majority of the members of the House.
KTFA:
Clare: Extension of the legislative term of the Iraqi parliament for an additional month to pass laws
11/4/2024
Member of the Parliamentary Legal Committee, Mohammed Al-Khafaji, revealed on Monday that the current legislative session of the Council of Representatives ends on the 9th of this month, and that extending it for another month is subject to Article 58 of the Iraqi Constitution.
He added in a statement to Shafaq News Agency that according to this article, the legislative term can be extended at the request of the President of the Republic, the Prime Minister, the Speaker of the House of Representatives, or 50 representatives, provided that the extension is approved by a vote of the majority of the members of the House.
Al-Khafaji explained that there is a trend to extend the legislative session from November 9 to December 9, in order to organize the work of Parliament and approve pending laws, as the past period witnessed repeated postponements in the Council’s sessions and the incomplete agenda.
Al-Khafaji pointed out that the extension will provide an additional opportunity for the government to submit the draft general budget law for 2025, which is supposed to be submitted before the end of this year. He stressed the importance of the government taking advantage of this time to avoid the delay that the budget witnessed this year. LINK
************
Clare: Al-Sudani directs to establish the concept of (Made in Iraq)
10/3/2024 Baghdad
Prime Minister Mohammed Shia Al-Sudani directed to consolidate the concept of (Made in Iraq) in all industrial sectors.
Yesterday, Saturday, Al-Sudani inaugurated via video conference the Al-Mansour and Al-Mustaqbal factories, which specialize in pharmaceutical industries, as part of the government's program to support the localization of the pharmaceutical industry and raise self-sufficiency rates.
According to a statement received by "Al-Sabah", Al-Sudani announced "proceeding to develop and increase the production of local medicines to achieve drug security by working to localize the pharmaceutical industry and encourage the national product, and that contracts with local medicines have increased by three times, which represents a positive indicator."
He explained that "the increase in pharmaceutical production has made the government encourage, support and provide all the benefits required for the success of these projects, starting with the banking support and sovereign guarantees provided for these projects," stressing that "the registration of pharmaceutical companies is proceeding smoothly, and detailed and extensive instructions have been developed to facilitate the process of transferring technology to national factories and facilitating partnerships with specialized foreign companies and the private sector."
The Prime Minister pointed to "the importance of establishing the concept of (Made in Iraq) as it represents a national goal shared by all," indicating "the necessity of covering the needs of all chronic diseases before the middle of next year, in addition to cancer treatments, in cooperation with
the private sector." LINK
************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man They're not using the dinar today yet that we know of on the Forex. But what they're saying is to my understanding is as of the 15th to 18th of October, they're getting ready to use domestic currency to support the exchange rate peg, domestic liquidity management. I hope you guys understand that...because this is pretty powerful stuff coming from the CBI.
MarkZ [via PDK] From a source in the middle east: Sudani has just stated that the “currency transition” should be completed by Victory Day. Victory day is December 10th. This means things will be going right away if it is to be “completed” by that time.
Credit Card Companies Drop BOMBSHELL On Interest Rates!
Atlantis Report:
U.S. banks are taking defensive measures to secure their financial stability. The collapse of three regional banks and a series of rate hikes by the Federal Reserve have added to the uncertainty.
As a result, more lenders have tightened their lending standards, as revealed by the Federal Reserve's Senior Loan Officer Opinion Survey.
The tightening of lending standards, even before the full impact of the regional banking crisis, is likely to slow down the flow of credit to small businesses and households.
Small businesses and marginal households, in particular, are sensitive to changes in the cost and availability of credit, given their limited financial resources and borrowing options.
Gold Telegraph: Conversations with Judy Shelton, Part 1
Gold Telegraph: Conversations with Judy Shelton, Part 1
Nov. 3, 2024
“I want the United States to be the leader if there’s any kind of gold backing to a currency.” – @judyshel
Economic advisor to former President Donald Trump, Judy Shelton, joins me for a captivating conversation spanning a wide range of subjects.
Judy Shelton is a Senior Fellow at the Independent Institute and author of the book Good as Gold: How to Unleash the Power of Sound Money.
Gold Telegraph: Conversations with Judy Shelton, Part 1
Nov. 3, 2024
“I want the United States to be the leader if there’s any kind of gold backing to a currency.” – @judyshel
Economic advisor to former President Donald Trump, Judy Shelton, joins me for a captivating conversation spanning a wide range of subjects.
Judy Shelton is a Senior Fellow at the Independent Institute and author of the book Good as Gold: How to Unleash the Power of Sound Money.
She is the former Chairman of the National Endowment for Democracy and former U.S. Director of the European Bank for Reconstruction and Development. She has testified before the U.S. Senate Banking, Senate Foreign Relations, House Banking, House Foreign Affairs, and Joint Economic Committee.
In our conversation, we explore a series of compelling topics, highlighted by Judy’s riveting career stories, including her interactions with figures like Alan Greenspan, Paul Volcker, and other influential central bankers.
One of the most powerful revelations she shared was Paul Volcker’s frank admission: he had always believed the United States would eventually return to the Bretton Woods system.
For those unfamiliar, Volcker was referencing the pivotal moment known as the Nixon Shock in 1971, when President Nixon abruptly suspended the U.S. dollar’s convertibility into gold, shattering the foundation of the Bretton Woods system.
At that historic moment in history, Volcker served as the Under Secretary of the Treasury for International Monetary Affairs.
This marked the transition to a pure fiat monetary system.
We get into a wide-ranging conversation that covers many topics, which include:
• The US Dollar
• The U.S. National Debt as a Security Threat
• Federal Reserve’s Role in America’s debt and Financial Instability
• Historical Perspectives on Monetary Policy
• Potential Return to a Gold-Backed System
• Comparisons Between Soviet Central Planning and Current Economic Policies
• BRICS Countries and Global Financial Shifts
• Treasury Bond Backed by Gold and the Potential for Gold Backed Stablecoins
+ much more.
I hope you all enjoy this conversation, and a big thank you to @judyshel for joining me for our first Gold Telegraph conversation.
TIMESTAMPS:
0:49 – How much does the US dollar’s global dominance depend on the upcoming election?
2:08 – Is debt a threat to U.S. national security?
3:20 – How responsible is the Federal Reserve for America’s current debt level?
7:54 – How has the Federal Reserve contributed to the financial instability we face today?
13:22 – How do you see today’s shifting global landscape, given your deep background in historical analysis?
19:46 – Are we on the verge of another major global monetary shift, and what might it look like?
29:13 – Was there a specific moment or event early in your career that sparked your interest in the study of gold?
34:09 – Memorable stories from your conversations with Alan Greenspan, Paul Volcker and Robert Mandel
39:22 – How do you define sound money?
46:14 – How interconnected are sound money, economic opportunity, stability, and global peace, especially in today’s polarized world?
49:51 – Why do you think so many policymakers dismiss and mock gold, even as global demand is at records and central banks are stockpiling?
54:13 – How does the Fed’s dual mandate open it to political vulnerabilities, and could a rules-based system address these issues?
59:37 – How does the Fed’s centralized control over interest rates affect what is supposed to be a market-based economy?
1:02:48 – Are central banks aggressive policies eroding or undermining capitalism and the concept of free markets?
1:06:23 – Are BRICS nations positioning gold to become a unit of account and medium of exchange, potentially bypassing the traditional financial system?
1:09:38 – Could imposing tariffs on countries that move away from the dollar actually help America maintain its financial muscle?
1:14:47 – What gives you hope for potential reforms that could create a monetary system supporting economic freedom and stability for everyone?
1:16:58 – Could we potentially see you in the next administration advocating for these policies?
https://twitter.com/i/status/1853109702248280206
Source(s): https://x.com/GoldTelegraph_/status/1853109702248280206
https://dinarchronicles.com/2024/11/03/gold-telegraph-conversations-with-judy-shelton-part-1/
**
Gold Telegraph: Judy Shelton Says Debt is a National Security Threat
In my conversation with Judy Shelton, I asked whether debt poses a national security threat to the United States.
She responded, “It is a national security threat, and this has been developing over a long time…”
Watch the entire conversation, here:
The United States Treasury is spending roughly 3% of GDP on interest payments for the national debt, marking the highest ratio since 1996.
The national debt is now nearly $36 trillion.
Do people actually think this can go on forever?
Source(s):
https://x.com/GoldTelegraph_/status/1853175191108477104
https://x.com/GoldTelegraph_/status/1853173647680114982
Seeds of Wisdom RV and Economic Updates Monday Morning 11-4-24
Good Morning Dinar Recaps,
PAKISTAN MOVES TO LEGALIZE CRYPTO AS GOVERNMENT SIGNALS SHIFT IN FINANCIAL POLICY
Pakistan moves to legalize crypto as the government proposes amendments to the SBP Act, signaling a shift in its financial policy.
According to a report by The Express Tribune, the amendments would allow the SBP to issue digital currency and manage the country’s money in both physical and digital forms.
Good Morning Dinar Recaps,
PAKISTAN MOVES TO LEGALIZE CRYPTO AS GOVERNMENT SIGNALS SHIFT IN FINANCIAL POLICY
Pakistan moves to legalize crypto as the government proposes amendments to the SBP Act, signaling a shift in its financial policy.
According to a report by The Express Tribune, the amendments would allow the SBP to issue digital currency and manage the country’s money in both physical and digital forms.
The amendments also include the proposal to grant the SBP power to conduct “central bank digital currency” business, adding that CBDCs could operate as a legal tender. Moreover, the SBP plans to establish a subsidiary to develop and operate digital payment systems, the report reads.
Historically, Pakistan’s central bank has categorized cryptocurrencies like Bitcoin (BTC) as illegal tender, issuing warnings about the associated risks. The central bank specifically highlighted the lack of legal protections for financial losses resulting from the high volatility of cryptocurrencies.
The proposed amendments introduce penalties for the unauthorized issuance of digital currencies, imposing fines equal to twice the value of any illegal currency created, per the report.
While no specific timeline has been announced for federal cabinet approval of the amendments, these changes could shift the narrative toward regulatory oversight and the integration of digital currencies into Pakistan’s financial framework. The amendments would also expand the SBP board’s authority, enabling it to approve a wider range of financial reports and enhance governance processes.
@ Newshounds News™
Source: Crypto News
~~~~~~~~~
KRAKEN LAUNCHES LICENSED CRYPTO DERIVATIVES IN AUSTRALIA
Kraken expands into Australia’s crypto derivatives market with a regulated broker service for wholesale investors.
Kraken, a centralized cryptocurrency exchange, introduced a licensed brokerage service in Australia targeting wholesale clients and designed to meet the needs of institutional and large-scale investors.
The new service offers Australian clients crypto-based derivatives trading, a financial product tied to cryptocurrency prices without requiring direct ownership of digital assets.
Eligible clients have been able to trade crypto-based derivatives via Kraken’s platform since Nov. 3. Interested clients can apply or check their eligibility for the service through the Kraken Pro app.
The launch of Kraken’s new Australian-targeted broker service demonstrates the exchange’s move toward regulatory compliance, preparing it to handle potential institutional liquidity inflows.
New service offering details
Kraken’s new product, available through its Australian financial services-licensed broker, allows clients to access multiple crypto options with multi-collateral support.
The suite of derivatives includes features like collateral flexibility, supporting fiat, stablecoins and other cryptocurrencies, while offering risk management tools and trading strategies designed to enhance asset security.
Despite the new service’s potential advantages, Kraken warned investors of the high risks associated with some crypto derivatives in which losses can “substantially” exceed initial investments.
Kraken commitment to compliance
The exchange’s expansion into the Australian wholesale derivatives market is the latest step in aligning with local regulatory requirements.
In the launch announcement, Jonathan Miller, Kraken’s general manager for Australia, said that Australian wholesale clients are seeking an option “to execute advanced trading strategies using a licensed broker.”
Miller added that the country has been a “cornerstone” of the exchange’s global operation and expressed Kraken’s commitment to regulatory compliance while unlocking “institutional demand for crypto assets.”
Kraken to launch Ink blockchain in 2025
Kraken’s plans to launch its own blockchain in early 2025, dubbed “Ink,” were revealed in a Bloomberg report in Oct 24..
The report said that the new blockchain aims to allow users to trade, borrow and lend tokens without intermediaries while simplifying the decentralized finance (DeFi) process.
Ink signals Kraken’s step away from its current position in crypto and toward Web3 and decentralization principles as it bids to make DeFi more accessible and cost-effective for users.
@ Newshounds News™
Source: CoinTelegraph
~~~~~~~~~
🌱 WARREN BUFFETT PREFERS CASH AND WHY | Youtube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
~~~~~~~~~
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Thank you Dinar Recaps
Americans Lose Billions To Online Scams
Americans Lose Billions To Online Scams
Kenneth Niemeyer Mon, November 4, 2024 Business Insider
Banks and the federal government point fingers as Americans lose billions to online scams. The American Bankers Association is urging federal action on online financial fraud. Banks are facing increased liability for scams, with $10 billion in losses reported last year.
ABA's proposed measures include a national strategy, new federal offices, and updated fraud laws.
Remember the Spider-Man meme where he points at himself? Banks and the federal government are in a similar situation, pointing to each other to solve the problem of online financial scams.
Americans Lose Billions To Online Scams
Kenneth Niemeyer Mon, November 4, 2024 Business Insider
Banks and the federal government point fingers as Americans lose billions to online scams. The American Bankers Association is urging federal action on online financial fraud. Banks are facing increased liability for scams, with $10 billion in losses reported last year.
ABA's proposed measures include a national strategy, new federal offices, and updated fraud laws.
Remember the Spider-Man meme where he points at himself? Banks and the federal government are in a similar situation, pointing to each other to solve the problem of online financial scams.
For its part, the government wants banks to take on more responsibility, and more consistently refund their customers who fall victim to online scams. Banks, on the other hand, want the government to do more to prevent those scams in the first place.
The problem is real. Almost 1 in 3 Americans have been the victim of a scam in the past year, with an average loss of $1,600 a person, according to a study from IPX, a financial analysis firm.
According to the Federal Trade Commission, consumers reported more than $10 billion in losses last year from online scams. The agency's data also showed that consumers using payment apps reported losing $210 million.
It's also a major headache for the banks.
American Bankers Association CEO Rob Nichols called for the federal government to create a national scam prevention strategy last week. Nichols also said that Congress should "create and fund" an Office of Scam and Fraud Prevention while speaking to bankers at the association's annual convention in October.
"The scale of fraud taking place every day is a massive burden for our country and for the millions of hardworking women and men whose lives are affected by it," Nichols said at the convention, according to Forbes. "It will take a united effort — with support from both inside and outside the banking industry — to win this fight."
The government, meanwhile, has repeatedly called on financial institutions to improve compensation for victims who lose money to scams.
In August, the Consumer Financial Protection Bureau launched an investigation into JP Morgan, Bank of America, and Wells Fargo, all part owners of Zelle.
TO READ MORE: https://www.yahoo.com/finance/news/banks-federal-government-point-fingers-061424300.html
“Bits and Pieces” in Dinarland Monday AM 11-4-2024
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Mon. 4 Nov. 2024
Compiled Mon. 4 Nov. 2024 12:01 am EST by Judy Byington
Be Ready, Prepared, Expectant
Expect Chaos on Election Day Tues. 5 Nov. 2024:
National Guard Deployed To Major Cities, Fencing Surrounds US Capitol, White House
Meanwhile, Global Currency Reset Tier4b Has Been Activated in a new Gold/asset-backed Global Financial System Designed To Defund The Bad Guys
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Mon. 4 Nov. 2024
Compiled Mon. 4 Nov. 2024 12:01 am EST by Judy Byington
Be Ready, Prepared, Expectant
Expect Chaos on Election Day Tues. 5 Nov. 2024:
National Guard Deployed To Major Cities, Fencing Surrounds US Capitol, White House
Meanwhile, Global Currency Reset Tier4b Has Been Activated in a new Gold/asset-backed Global Financial System Designed To Defund The Bad Guys
It’s only wise to have at least a month’s supply of food, water, cash, medicine and essential items on hand for yourself, your family and to share with others in case of emergency.
Possible Timing:
Wed. 30 Oct. 2024: Tier4b funds (allegedly) released in Brazil.
Also on Fri. 1 Nov. 2024 Texas, the possible site of the new US Republic Capitol, transferred it’s money into gold-backed currency.
~~~~~~~~~~~
The below were rumored dates which were subject to change (anything could happen):
Tues. 5 Nov. 2024 Cyber Attack, election results, change of President, get 800s
Thurs. 7 Nov. 2024 begin scheduling Tier4b (us, the Internet Group) appointments
Tues. 12 Nov. 2024 begin Tier4b appointments
~~~~~~~~~~~~
Global Currency Reset:
Sun. 3 Nov. 2024 Wolverine: “I can tell you with 100% assurance that things are moving. This is our week. One of the seven big leaders of this movement told me this morning that it was happening this week, probably at least by Friday 8 Nov. 2024.”
Sun. 3 Nov. 2024 MarkZ: “A source in the Middle East says that Sudani just said that the currency transition should be completed by Victory Day Tues. 10 Dec. 2024. This means that things will be going very soon if it is to be completed by then.” … “A bank employee said that they had been signing a lot of NDAs, all of the employees were under a gag order and couldn’t talk about (Nesara) and would be transitioning to a wealth management location. They also said they have completed their training, have a new Delarue Machine and the money comes out in November.”
~~~~~~~~~~
Global Financial Crisis:
Sun. 3 Nov. 2024: The United States Treasury is spending roughly 3% of GDP on interest payments for the national debt, marking the highest ratio since 1996. The national debt is now nearly $36 trillion.
Read full post here: https://dinarchronicles.com/2024/11/04/restored-republic-via-a-gcr-update-as-of-november-4-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY:
CBI governor Alaq on television saying our foreign reserves at 140% above our current issued currency. FRANK: Based on those words, can you just imagine the potential of your next exchange rate?!
Militia Man They're maintaining control of the general level of pricing, they're controlling inflation, reducing both in the management of monetary mass. Reducing the monetary mass, what does that do? If you take money out of the system, there's less of it...You have more value. They're reducing the money supply. Inflation rate was at 7.5% now it's down about half of that 3.8%. If they reduced inflation by almost 50%, then wouldn't that likely be reasonable to presume that they reduce the monetary mass about the same amount? It sure seems like it.
Vince Lanci:Gold, Silver, and Tier 1 Assets Explained - Part 1
Arcadia Economics: 11-3-2024
If it's been a while since you've heard an update about how the Basel banking framework applies to the gold & silver markets, and especially if the whole concept was a little confusing the first time around, then today's show with Vince Lanci is for you!
To find out more, click to watch this great overview of gold, silver, and tier 1 assets now!
“Tidbits From TNT” Monday Morning 11-4-2024
TNT:
Tishwash: The Special Representative of the Secretary-General of the United Nations arrives in Najaf to meet with Mr. Sistani
The Special Representative of the Secretary-General of the United Nations, Mohammed Al-Hassan, arrived in Najaf today, Monday, to meet with the Grand Ayatollah, Sayyid Al-Sistani.
The UN Secretary-General had earlier announced the appointment of Mohammed Al-Hassan as his new Special Representative in Iraq and Head of the United Nations Assistance Mission in Iraq (UNAMI), succeeding his former Special Representative, Jeanine Hennis-Plasschaert. link
TNT:
Tishwash: The Special Representative of the Secretary-General of the United Nations arrives in Najaf to meet with Mr. Sistani
The Special Representative of the Secretary-General of the United Nations, Mohammed Al-Hassan, arrived in Najaf today, Monday, to meet with the Grand Ayatollah, Sayyid Al-Sistani.
The UN Secretary-General had earlier announced the appointment of Mohammed Al-Hassan as his new Special Representative in Iraq and Head of the United Nations Assistance Mission in Iraq (UNAMI), succeeding his former Special Representative, Jeanine Hennis-Plasschaert. link
Tishwash: Extension of the legislative term of the Iraqi parliament for an additional month to pass laws
Member of the Parliamentary Legal Committee, Mohammed Al-Khafaji, revealed on Monday that the current legislative session of the Council of Representatives ends on the 9th of this month, and that extending it for another month is subject to Article 58 of the Iraqi Constitution.
He added in a statement to Shafaq News Agency that according to this article, the legislative term can be extended at the request of the President of the Republic, the Prime Minister, the Speaker of the House of Representatives, or 50 representatives, provided that the extension is approved by a vote of the majority of the members of the House.
Al-Khafaji explained that there is a trend to extend the legislative session from November 9 to December 9, in order to organize the work of Parliament and approve pending laws, as the past period witnessed repeated postponements in the Council’s sessions and the incomplete agenda.
Al-Khafaji pointed out that the extension will provide an additional opportunity for the government to submit the draft general budget law for 2025, which is supposed to be submitted before the end of this year. He stressed the importance of the government taking advantage of this time to avoid the delay that the budget witnessed this year. link
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Tishwash: Al-Sudani receives a memorandum of understanding to establish a higher ministerial council between Iraq and the Netherlands
Prime Minister Mohammed Shia al-Sudani received, on Monday, a memorandum of understanding to establish a higher ministerial council between Iraq and the Netherlands for governmental cooperation in all fields.
Al-Sudani's office stated in a statement received by Shafaq News Agency that the latter received the new Dutch Ambassador to Iraq, Janet Alberda, and congratulated her on assuming her duties in Iraq, stressing the importance of strengthening bilateral relations in various fields, and working to develop them, in a way that achieves mutual benefit and common interests.
Al-Sudani received a draft memorandum of understanding to establish the Supreme Ministerial Council between the governments of Iraq and the Netherlands, for the purpose of working on ministerial cooperation in all fields, in addition to discussing the issue of the withdrawal of the coalition and entering into bilateral relations between the two countries.
During the meeting, the situation and developments in Lebanon and Gaza were discussed, and the importance of seeking to stop the war and deliver relief supplies to the affected areas and those afflicted by the aggression was emphasized link
************
Tishwash: Prime Minister: The necessity of strengthening Iraq's position to be at the forefront of the region's countries in the technological aspect
Prime Minister Mohammed Shia al-Sudani stressed, on Sunday, the necessity of strengthening Iraq's position to be at the forefront of the countries of the region in the technological aspect.
The Prime Minister's Media Office said in a statement, seen by "Al-Eqtisad News", that "Prime Minister Mohammed Shia Al-Sudani chaired the second meeting of the Supreme Committee for Artificial Intelligence."
He added that "Al-Sudani listened, at the beginning of the meeting, to the government plans related to developing aspects related to artificial intelligence for employees, educational and educational sectors, and the agriculture and water resources sector, in addition to reviewing the legislative policy; in order to prepare a draft law regulating the work of artificial intelligence applications."
He continued that "Al-Sudani reviewed the details and proposals related to introducing the subject of computers and artificial intelligence into the curricula of the Ministry of Education in the next academic year, stressing the need for every school to have a smart screen and an internet connection to establish a special laboratory for artificial intelligence, stressing the need to strengthen Iraq's position to be at the forefront of the countries of the region in the technological aspect, with its various capabilities and potentials in this field."
He explained that "Al-Sudani agreed to launch an initiative aimed at attracting competencies from abroad in the public and private sectors, including leaders and employees, by training 100 digital leaders as a first stage, and informing them of the latest experiences in this field, under the supervision of international experts, in order to create and implement policies in order to raise the quality of services provided to citizens." link
Mot: Remember when no one ever said… “Where’s my phone”!
Mot: . Every Year bout This Time! - Where is My Catalog
