Seeds of Wisdom RV and Economic Updates Wednesday Evening 11-6-24

Good Evening Dinar Recaps,

REPUBLICAN SENATE MAJORITY SIGNALS MORE ‘PRO-CRYPTO CONGRESS’

A Republican-led Senate is poised to pass clearer crypto regulations, signaling a shift toward industry-friendly policies in the US.

The Republican Party has secured majority control of the United States Senate, offering a promising outlook for cryptocurrency regulations in the world’s largest economy.

Republicans took control after securing key Senate seats in Ohio and West Virginia, according to the Associated Press.

Over 240 pro-crypto candidates were elected to the House of Representatives and Senate in a “historic achievement” for clear crypto regulations in the US, according to Anastasija Plotnikova, the CEO and co-founder of Fideum, a regulatory and blockchain infrastructure firm focused on institutions.

Plotnikova told Cointelegraph:

“It paves the way for harmonized crypto regulations that will drive innovation, boost competition and incentivize talent to return. The US crypto industry worked for years to make this happen, and I eagerly await seeing the deliverables implemented.”

A Republican-led Senate, paired with a presidential administration that supports crypto, could lead to innovation-friendly regulations. This could help the US regain ground as a global leader, particularly as Europe moves closer to implementing its comprehensive regulatory framework, the Markets in Crypto-Assets Regulation (MiCA) bill, by the end of 2024.

Lighter regulations and more oversight for CFTC
A Republican Senate may finally bring clarity to US crypto regulations, according to Anndy Lian, author and intergovernmental blockchain expert.

He told Cointelegraph:

“The Republican focus on reducing government oversight could lead to a lighter regulatory touch, which would be a win for the industry […] A Republican Senate could mean fewer aggressive anti-crypto moves and more opportunities for open discussions about how to support innovation.”

The new Senate may review delayed business-friendly bills like the Digital Commodities Consumer Protection Act, which would grant the Commodity Futures Trading Commission (CFTC) exclusive jurisdiction over digital asset trading, Lian added.

Digital Commodities Consumer Protection Act of 2022. Source: Congress.gov

The crypto industry is also hoping to see the approval of the Bitcoin Act, championed by Wyoming Republican Senator Cynthia Lummis. The bill proposes the creation of a strategic Bitcoin reserve for the US, making it the first nation to use it as a “savings technology.”

Lummis Bitcoin Act. Source: Lummis.senate.gov

The bill cited the US’ “soaring inflation rates” an

d the national debt reaching “unprecedented heights” as reasons for the adoption of Bitcoin reserves to bolster the country’s balance sheet.

Republican Senate to change SEC oversight over crypto industry?
Controlling the Senate is at least as important for the future of crypto regulations as the president, according to James Davies, CEO of Crypto Valley Exchange.

This could significantly change the Securities and Exchange Commission’s oversight of the crypto space, Davies told Cointelegraph:

“This shift changes SEC oversight, which has proven to be as impactful as, if not more than, the SEC chair […] Now we await public announcements from Trump on SEC nominations to fulfill his promises to the US crypto community that supported him.”

Davies said he hopes that Chris Giancarlo, former CFTC chair, will be nominated for Gensler’s seat at the SEC.

The crypto industry sees the 2024 presidential elections as a net positive. Coinbase co-founder and CEO Brian Armstrong said it was “America’s most pro-crypto Congress ever,” which will facilitate more explicit crypto regulations.
@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

SEC CHAIRMAN GARY GENSLER LIKELY TO RESIGN AFTER TRUMP WIN: ANALYST

President-elect Donald Trump can't fire crypto critic Gary Gensler without cause, but history suggests that the SEC chairman will bow out.

The United States Securities and Exchange Commission (SEC) could soon see a new chairman following Donald Trump’s projected election win, a noted crypto analyst said Wednesday.

Analyst Markus Thielen, the CEO of crypto research firm 10x Research, wrote in a research note that recent history suggests that Gary Gensler is likely to resign in the near future amid the impending regime change. The SEC’s chairman would just be following in the steps of his predecessors.

The SEC chairman “typically resigns when a new president takes office, aligning with the incoming administration's preferences,” Thielen wrote.

This happened previously with Jay Clayton—who was appointed by Trump—resigning before Joe Biden’s inauguration. Before that, Barack Obama’s pick Mary Jo White resigned the day of President Trump's inauguration.

“This practice allows the new president to appoint a chair who aligns with their policy objectives,” Thielen wrote. “If these historical patterns hold, Gary Gensler may resign in December or January, with a new SEC chair potentially confirmed by April or May.”

Gensler’s impact
Appointed by President Joe Biden in 2021, Gensler has led the SEC in an aggressive crackdown on U.S. crypto exchanges, decentralized finance projects, and software developers, which has been perceived by many as a hostile stance towards the sector. His term is set to last until 2026.

Donald Trump has repeatedly said that he would fire Gensler if elected, and suggested that crypto startups would be "living in hell" if he didn't return to office and help change the course of American regulation.

“I pledge to the Bitcoin community that the day I take the oath of office, Joe Biden and Kamala Harris’ anti-crypto crusade will be over,” Trump said during his Bitcoin 2024 conference keynote in July. “It will end. It will be done.”

According to Decrypt analysis, however, regulatory protocols establish that the president could not remove Gensler from his position without cause. Still, the new president would have the authority to demote him from the role of chairman and appoint another SEC commissioner in his place.

U.S. Republican Representative French Hill recently said that the SEC should have new leadership next year—regardless of which party controls the White House. He said that Gensler's "fear-mongering" at the SEC is unconstitutional and misuses the agency's regulatory authority.

@ Newshounds News™

Source:  Decrypt

~~~~~~~~~

🌱IRAQI DINAR'S BIG MOVE |  Youtube                

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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Thank you Dinar Recaps

Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 11-6-24

Good Afternoon Dinar Recaps,

JP MORGAN REBRANDS BLOCKCHAIN UNIT TO KINEXYS

JP Morgan has rebranded its Onyx blockchain unit to Kinexys by JP Morgan. The move was announced today by Umar Farooq, the global co-head of JP Morgan payments during the Singapore Fintech Festival.

As we previously reported, the blockchain platform has executed more than $1.5 trillion in notional value since launch, with current volumes exceeding $2 billion daily. That’s still tiny compared to the $10 trillion in conventional payments that the bank processes daily.

The new name combines the concepts of “kinetic” and “connection”, to reflect the worldwide movement of money, assets and financial information using the efficiencies of DLT.

The highest profile Onyx solution is the blockchain based bank account system, JPM Coin Systems, which enables corporates to move money between JP Morgan accounts in different countries, in real time and 24/7. That is now rebranded to Kinexys Digital Payments. Brevan Howard Digital Assets is a new client of the solution.

Onyx Digital Assets, now Kinexys Digital Assets, is an umbrella for multiple solutions that include intraday repo, tokenized collateral and bond issuance. Singapore’s OCBC is the latest bank to start using the repo solution.

Onyx’s first product was Liink, the blockchain based payments messaging network that enables sharing of data about conventional payments to reduce delays because of compliance of other queries. It is renamed to Kinexys Liink.

One of the most logical moves is the rebranding of the slightly awkward sounding Blockchain Launch to Kinexys Labs.

In other news, the unit is planning to support foreign exchange as part of Kinexys Digital Payments. JP Morgan was previously involved in DeFi-style FX trials using automated market makers as part of one of the first Singapore Project Guardian tests.

Additionally, Kinexys Digital Assets and Kinexys Labs is running a proof of concept for on-chain privacy, identity and composability.

Why rebrand?
The bank is spinning the rebrand as a positive step, as one would expect.   However, the trigger is likely trademark issues. Given Onyx is a generic word, it would encounter potential challenges. 

A company that was already using the name might have objected to trademark applications or even alleged infringement.

Last June the bank applied for trademarks for Onyx Digital Payments and Onyx Digital Assets. 

The records show the U.S. Patent and Trademark Office (USPTO) examiner sent initial refusals for the trademarks on various grounds, including partial overlaps with existing trademarks for similar use cases and other applications that pre-dated these applications. Given JP Morgan’s lawyers didn’t respond, the applications were treated as abandoned.

There’s also an OnyxCoin, as in a cryptocurrency, something the bank would likely not want to be confused with.

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

REPUBLICAN SENATE MAJORITY SIGNALS MORE ‘PRO-CRYPTO CONGRESS’

A Republican-led Senate is poised to pass clearer crypto regulations, signaling a shift toward industry-friendly policies in the US.

The Republican Party has secured majority control of the United States Senate, offering a promising outlook for cryptocurrency regulations in the world’s largest economy.

Republicans took control after securing key Senate seats in Ohio and West Virginia, according to the Associated Press.

Over 240 pro-crypto candidates were elected to the House of Representatives and Senate in a “historic achievement” for clear crypto regulations in the US, according to Anastasija Plotnikova, the CEO and co-founder of Fideum, a regulatory and blockchain infrastructure firm focused on institutions.

Plotnikova told Cointelegraph:

“It paves the way for harmonized crypto regulations that will drive innovation, boost competition and incentivize talent to return. The US crypto industry worked for years to make this happen, and I eagerly await seeing the deliverables implemented.”

A Republican-led Senate, paired with a presidential administration that supports crypto, could lead to innovation-friendly regulations. This could help the US regain ground as a global leader, particularly as Europe moves closer to implementing its comprehensive regulatory framework, the Markets in Crypto-Assets Regulation (MiCA) bill, by the end of 2024.

Lighter regulations and more oversight for CFTC
A Republican Senate may finally bring clarity to US crypto regulations, according to Anndy Lian, author and intergovernmental blockchain expert.

He told Cointelegraph:

“The Republican focus on reducing government oversight could lead to a lighter regulatory touch, which would be a win for the industry […] A Republican Senate could mean fewer aggressive anti-crypto moves and more opportunities for open discussions about how to support innovation.”

The new Senate may review delayed business-friendly bills like the Digital Commodities Consumer Protection Act, which would grant the Commodity Futures Trading Commission (CFTC) exclusive jurisdiction over digital asset trading, Lian added.

The crypto industry is also hoping to see the approval of the Bitcoin Act, championed by Wyoming Republican Senator Cynthia Lummis. The bill proposes the creation of a strategic Bitcoin reserve for the US, making it the first nation to use it as a “savings technology.”

The bill cited the US’ “soaring inflation rates” and the national debt reaching “unprecedented heights” as reasons for the adoption of Bitcoin reserves to bolster the country’s balance sheet.

Republican Senate to change SEC oversight over crypto industry?
Controlling the Senate is at least as important for the future of crypto regulations as the president, according to James Davies, CEO of Crypto Valley Exchange.

This could significantly change the Securities and Exchange Commission’s oversight of the crypto space, Davies told Cointelegraph:

“This shift changes SEC oversight, which has proven to be as impactful as, if not more than, the SEC chair […] Now we await public announcements from Trump on SEC nominations to fulfill his promises to the US crypto community that supported him.”

Davies said he hopes that Chris Giancarlo, former CFTC chair, will be nominated for Gensler’s seat at the SEC.
The crypto industry sees the 2024 presidential elections as a net positive. Coinbase co-founder and CEO Brian Armstrong said it was “America’s most pro-crypto Congress ever,” which will facilitate more explicit crypto regulations.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

🌱IRAQI DINAR'S BIG MOVE |  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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Economist’s “News and Views” 11-6-2024

Gold's Biggest Year Since 1979: Why the West Is Now Buying Too & What’s Next | Joseph Cavatoni

Kitco News:  11-5-2024

Gold demand surged to historic highs in the third quarter, fueled by purchases from central banks, inflows to ETFs, and activity in opaque over-the-counter markets, as revealed in the World Gold Council’s Q3 2024 Gold Demand Trends Report.

In an interview, Jeremy Szafron, Anchor at Kitco News, discusses these findings with Joseph Cavatoni, Senior Market Strategist at the World Gold Council. Cavatoni provides a detailed breakdown of how geopolitical instability, from the U.S. election to escalating Middle Eastern tensions, is driving investors toward gold as a safe haven.

He also explains why the Western investor is getting back into gold. On top of that, he explores the impact of technology-driven demand, record mine production, and the constraints on consumer and jewelry purchases due to high prices.

00:00 - Gold’s Record Year

 01:51 - Western Investors Return to Gold

03:42 - Why Now? Western Interest Explained

05:30 - ETF Inflows Rebound

07:24 - Eastern ETF Demand Surge

10:14 - OTC Market Overview

12:07 - Challenges in Tracking OTC

15:24 - Central Bank Buying Trends

18:19 - India’s Gold Repatriation

20:14 - Geopolitical Risks & Gold

 21:40 - LBMA Conference on Central Bank Demand

24:02 - Jewelry Demand Falls Globally, India Rises

26:22 - Growth in Tech Demand for Gold

 27:49 - Trends in Bar & Coin Market

28:50 - Q3 Demand Surprises

 30:43 – Conclusion

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

STOCKS AND CRYPTO SKYROCKET! GOLD AND SILVER FALL...

Greg Mannarino:  11-6-2024

https://www.youtube.com/watch?v=R55o7UrGN24

Surviving the Economic Collapse & Life Lessons - “We Have Years, Not Decades” - Frank Giustra

Daniela Cambone:  111-5-2024

Join Daniela Cambone & Frank Giustra in Italy as we explore his roots, go truffle hunting, and discuss the importance of respecting nature and good food. We also visit a rare Etruscan site, reflecting on the impermanence of empires. Don’t miss the emotional twist at the end!

https://www.youtube.com/watch?v=bxeD8pblvw0

Seeds of Wisdom RV and Economic Updates Wednesday Morning 11-6-24

Good Morning Dinar Recaps,

RIPPLE AND ARCHAX COLLABORATE TO LAUNCH $100M+ IN TOKENIZED ASSETS ON XRPL

▪️Ripple has renewed a 2022 partnership with Archax as part of the plans to attract millions of dollars to XRPL by next year.

▪️Archax has also announced its acquisition of Spanish broker King & Shaxson Capital Markets (KSCM).

Ripple (XRP) has announced an extension of its earlier partnership with the UK’s regulated custodian Archax to drive hundreds of millions of dollars of tokenized Real World Assets (RWA) to the XRP Ledger (XRPL). According to the report, this would also establish the XRPL as one of the leading blockchains for RWA.

In 2022, Ripple and Archax established their first partnership when Archax joined hands with Metaco to provide digital asset custody services to clients. Meanwhile, both parties admit that their compliance goal aligns with each other since they work hand in hand with policymakers and regulators across the globe to bring crypto and blockchain to the doorsteps of financial institutions.

Commenting on this groundbreaking partnership, CEO of Archax Graham Rodford disclosed that the company is excited to adopt the technology by bringing its assets to the XRPL.

We have hit the tipping point for mainstream adoption of digital assets for real-world use cases.

There is clear real-world utility in use cases like RWA tokenization for the operational efficiency, access to liquid markets, and transparency inherent to crypto, and Archax has already tokenized assets such as equities, debt instruments, and money market funds.

The XRPL, which is reported to have a strong foundation in RWA tokenization and institutional grade DeFi, has recorded more than 1,000 projects in the last decade. On top of that, it has successfully processed more than 2.8 billion transactions without disruption, supporting more than five million wallets within the process with over 120 validators.

Markus of RippleX Comments and Archax Recent Acquisition
According to Markus Infanger, SVP, RippleX, its collaboration with Archax could enhance the realization of its vision and support the UK-regulated firm to drive the adoption of blockchain.

Our industry is at the start of the next major adoption stage in which blockchain technology will deliver real utility in financial markets at scale. 

Ripple is excited to see Archax’s vision of driving the adoption of blockchain and digital assets technology amongst financial institutions come to life, while further underlining the credentials of the XRPL as one of the leading blockchains for RWA tokenization.

Archax recently announced the acquisition of Spanish broker King & Shaxson Capital Markets (KSCM) as part of the effort to expand its operations across Europe.

Archax recently signed with Ripple, “to bring 100m’s of $ of tokenized RWA onto the XRPL over the coming year”. Since then, they have acquired a Spanish broker, KSCM, and partnered with Assetera for fund cross-listings.  WrathofKahneman, November 4, 2024

Initially, Archax was focusing on providing a digital securities marketplace but later expanded into crypto exchanges. Meanwhile, its latest accounting filing shows that it had 58 institutional clients as of the end of 2023. Its Asset Under Custody within the period was $112 million, with almost $100 million in OTC trading volumes.

Its recent expansion was highlighted by Rodford in a statement:

The Archax strategy has always been to expand its regulatory footprint globally, with the EU region being of prime importance for us, post-Brexit. This acquisition expands and enhances our access to permissions within the EU region, building on those we hold with the FCA in the UK.

@ Newshounds News™

Source:  Crypto News Flash

Read more:  XRPLCommunity 

~~~~~~~~~

JP MORGAN REBRANDS BLOCKCHAIN UNIT TO KINEXYS

JP Morgan has rebranded its Onyx blockchain unit to Kinexys by JP Morgan. The move was announced today by Umar Farooq, the global co-head of JP Morgan payments during the Singapore Fintech Festival.

As we previously reported, the blockchain platform has executed more than $1.5 trillion in notional value since launch, with current volumes exceeding $2 billion daily. That’s still tiny compared to the $10 trillion in conventional payments that the bank processes daily.

The new name combines the concepts of “kinetic” and “connection”, to reflect the worldwide movement of money, assets and financial information using the efficiencies of DLT.

The highest profile Onyx solution is the blockchain based bank account system, JPM Coin Systems, which enables corporates to move money between JP Morgan accounts in different countries, in real time and 24/7. That is now rebranded to Kinexys Digital Payments. Brevan Howard Digital Assets is a new client of the solution.

Onyx Digital Assets, now Kinexys Digital Assets, is an umbrella for multiple solutions that include intraday repo, tokenized collateral and bond issuance. Singapore’s OCBC is the latest bank to start using the repo solution.

Onyx’s first product was Liink, the blockchain based payments messaging network that enables sharing of data about conventional payments to reduce delays because of compliance of other queries. It is renamed to Kinexys Liink.

One of the most logical moves is the rebranding of the slightly awkward sounding Blockchain Launch to Kinexys Labs.

In other news, the unit is planning to support foreign exchange as part of Kinexys Digital Payments. JP Morgan was previously involved in DeFi-style FX trials using automated market makers as part of one of the first Singapore Project Guardian tests.

Additionally, Kinexys Digital Assets and Kinexys Labs is running a proof of concept for on-chain privacy, identity and composability.

Why rebrand?
The bank is spinning the rebrand as a positive step, as one would expect. However, the trigger is likely trademark issues. Given Onyx is a generic word, it would encounter potential challenges. A company that was already using the name might have objected to trademark applications or even alleged infringement.

Last June the bank applied for trademarks for Onyx Digital Payments and Onyx Digital Assets. 

The records show the U.S. Patent and Trademark Office (USPTO) examiner sent initial refusals for the trademarks on various grounds, including partial overlaps with existing trademarks for similar use cases and other applications that pre-dated these applications. 

Given JP Morgan’s lawyers didn’t respond, the applications were treated as abandoned.

There’s also an OnyxCoin, as in a cryptocurrency, something the bank would likely not want to be confused with.

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

🌱 SILVER UPDATE  |  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 Wednesday AM 11-6-2024

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 Wed. 6 Nov. 2024

Compiled Wed. 6 Nov. 2024 12:01 am EST by Judy Byington

As Earth Alliance & White Hats Prepare NESARA & Quantum Financial System And Activate Tier 4B Internet Group …Julian Assange on Telegram Tues. 5 Nov. 2024

Global Currency Reset:

Tues. 5 Nov. 2024 Bruce:

Our contact says SS increases will come in the month of November.

R&R would probably start in November, but we need NESARA to start, so just stay tuned.

Contact in Iraq said we’d have monies Thursday to Saturday.

We should have the 800 numbers on Wed. 6 Nov. and start exchanges on Thurs. 7 Nov.

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

5 Nov. 2024: THE 30+1 PRIMARY PROVISIONS OF NESARA GESARA: The Ultimate Blueprint for Global Transformation … (JFK Jr.) on Telegram Tues. 5 Nov. 2024

Debt Forgiveness: All bank-related debts, including credit cards, mortgages, and loans caused by i*****l banking practices, will be eliminated. This financial “jubilee” will free people from oppressive financial institutions.

Termination of the IRS: The IRS will be permanently shut down, and its employees will be reassigned to the new Treasury-based tax collection system.

Abolishment of Income Tax: Income taxes, including taxes on investments and retirement accounts, will be completely removed, as they were unconstitutionally imposed.

Flat-Rate Sales Tax: A 14% flat-rate sales tax will be introduced on new, non-essential goods (excluding food, medicine, and used items) to fund government operations, ensuring a fairer and more transparent tax system.

Restoration of Financial Privacy: New systems will be implemented to protect financial privacy, ending widespread data theft and hacking.

Re-indexing of Precious Metals: Gold, silver, and other precious metals will be re-indexed within 30 days of NESARA’s completion, stabilizing the economy.

Federal Reserve Phase-Out: The Federal Reserve will be dissolved over the course of a year, transitioning all monetary control to the U.S. Treasury.

Banking Reform: Banks will face new limits on rates and fees, while citizens gain stronger custody rights over their funds. Banks will be phased out over 3-5 years post-NESARA.

Boost to Senior Citizens’ Benefits: NESARA will increase benefits for senior citizens, ensuring financial support during their later years.

QFS (Quantum Financial System): Most NESARA-related exchanges of foreign currency and bonds will be securely stored in blockchain accounts via the Quantum Financial System.

Humanitarian Project Funding: Large-scale funding will be provided for domestic and global humanitarian projects, allowing for widespread societal improvements.

Redemption of Currencies and Bonds: Individuals will have the opportunity to redeem or exchange their foreign currencies and ZIM bonds at specific rates for personal use and humanitarian projects.

Reclamation of Stolen Assets: Assets stolen by corrupt institutions, including the Federal Reserve and Wall Street, will be reclaimed and restored to rightful owners.

Release of Suppressed Technologies: Over 6,000 hidden patents for advanced technologies, including free energy and medical cures, will be made public.

Privatization of the U.S. Postal Service: The USPS will be privatized to streamline operations and improve efficiency.

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

Tues. 5 Nov. 2024 Julian Assange on Telegram:

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 Deepstate!

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.

Read full post here:  https://dinarchronicles.com/2024/11/06/restored-republic-via-a-gcr-update-as-of-november-6-2024/

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

Frank26   Sudani the prime minister of Iraq is now in control of the auctions of their CBI.  What's so important about that?  Because... when the government sells their oil they get paid in dollars.  That's the agreement with America and then those dollars go into the CBI auction and they get converted into dinars.  That goes back to the government to pay their bills.  But it wasn't.  It was going from the CBI auctions to the hands of the corrupt profiteering evil people, the far left of Iraq...The auctions were the problem.  Not anymore.

Walkingstick  They used to have 130 trillion dinars in circulation.  They tell you now it's 100 trillion dinars...It will be trillions to billions.  130...and now report at 100 trillion is a big clue of the direction of the exchange rate...The 100 trillion dinar they are talking about is the value of the IQD not the number of notes in circulation.  The difference is extremely important...The clue is it's going in the right direction of adding purchasing power to the country's currency.

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

UK Economy DONE? Desperate Plan Triggers Bond Sell-Off, Big Tax Shock & Cost of Living Crisis

Sean Foo:  11-6-2024

In a stunning move, the UK has revealed their budget. This is more of a stimulus push that re-allocates private money to public works.

Is this a brilliant plan to help the UK drive GDP growth? Or is this a desperate gamble that will push the tax burden and debt level to unthinkable levels?

 Here's why the next 5 years for Britain will be very rocky indeed.

Timestamps & Chapters:

0:00 UK's Big Desperate Budget

2:39 Bonds Big Meltdown

5:21 UK Companies Face A Tax Nightmare

7:55 Sunak Blasts UK Economic Plan

11:24 Cost of Living Stagnation Crisis

https://www.youtube.com/watch?v=pqFBr9OJXjg

“Tidbits From TNT” Wednesday Morning 11-6-2024

TNT:

Tishwash:  Iraq increases its gold holdings and ranks third in the Arab world

The World Gold Council announced today, Wednesday, that Iraq has increased its gold holdings to more than 152.5 tons.

According to the latest table published by the Council for November 2024, "Iraq ranked 29th out of 100 countries listed in the table with the largest gold reserves," indicating that "Iraq ranked third in the Arab world after Saudi Arabia and Lebanon."

He added, "Iraq increased its gold holdings to 152.6 tons, after it had held 152.5 tons, which represents 11.5% of its remaining reserves."

The Council also pointed out that "the United States of America tops the list of countries with the largest gold holdings in the world, with 8,133.5 thousand tons, followed by Germany with 3,351.5 thousand tons, then Italy with 2,814 thousand tons, while Bosnia and Herzegovina came in last with 1.5 thousand tons."  link

Tishwash:  Prime Minister: We congratulate President-elect Donald Trump and Vice President James David on the success of the electoral process

Prime Minister Mohammed Shia al-Sudani congratulated President-elect Donald Trump, his Vice President James David Vance, and the American people on the success of the electoral process, while affirming Iraq's firm commitment to strengthening bilateral relations with the United States.

The Prime Minister said in a tweet on the "X" platform, which was followed by the Iraqi News Agency (INA): "We congratulate President-elect Donald Trump, his Vice President James David Vance, and the American people on the success of the electoral process."

The Prime Minister affirmed "Iraq's firm commitment to strengthening bilateral relations with the United States on the basis of mutual respect and common interests."

He added: "We look forward to this new phase being the beginning of deepening cooperation between our two countries in various fields, which will contribute to achieving sustainable development and benefit the two friendly peoples." 

President of the Republic Congratulating Trump: I hope your administration will work to enhance stability in the region  link

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

Tishwash:  British Ambassador Meets Finance Minister: Discussing Economic Reform

British Ambassador to Iraq Stephen Hitch met with Finance Minister Taif Sami on Tuesday to discuss economic reform in Iraq and shared ambitions for economic diversification and the promotion of a strong and resilient Iraqi economy.  link

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

ICC creates Iraq Arbitration Cmte to Boost Foreign Investment

The International Chamber of Commerce (ICC) in Iraq has reportedly established a local arbitration committee, aimed at minimizing financial losses from external arbitration and attracting foreign investors.

Mohsen Al-Humaidawi [Mohsin Al Hamed], Head of ICC Iraq, told the state-run Iraqi News Agency (INA) that the new committee, announced at the International Trade and Arbitration Forum in Baghdad, is backed by the Iraqi government and Prime Minister Mohammed Shia Al-Sudani.

He highlighted the collaborative efforts with the Iraqi Federation of Chambers of Commerce and the Ministry of Trade to obtain the ICC license, adding that the initiative is expected to increase investor confidence in Iraq's legal framework and strengthen international economic relations.

The ICC opened a local branch in Iraq in July.  link

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

Tishwash:  Baghdad approves amendment to the three-year budget law to compensate the Kurdistan Regional Government

The Iraqi Council of Ministers approved, on Tuesday, the proposal to amend Article (12/Second/C) of the Triennial Budget Law No. (13 of 2023).

The amendment included, according to a statement received by Shafaq News Agency, that "the Federal Ministry of Finance shall compensate the Kurdistan Regional Government of Iraq from sovereign expenses for production and transportation costs, for the quantities of oil produced in the region that are received by the State Oil Marketing Company (SOMO), or the Federal Ministry of Oil in accordance with paragraphs (a) and (b) of this clause

Provided that the fair estimated costs of production and transportation are calculated for each field separately, by a specialized international technical consulting body, determined by the Federal Ministry of Oil in agreement with the Ministry of Natural Resources in the region, within (60) days of the entry into force of this law, and in the event of failure to agree within the aforementioned period, the Federal Council of Ministers shall determine the aforementioned consulting body."

The statement continued, "The consultant mentioned in the previous paragraph shall submit the estimated cost of production and transportation to the Federal Ministries of Oil and Finance, and the Kurdistan Regional Government of Iraq, and it shall be approved for the purposes of this law. The calculation of the aforementioned compensation shall be based on the aforementioned cost per barrel multiplied by the number of barrels received in accordance with paragraphs (a) and (b) of this clause, and the Federal Ministry of Finance shall undertake to pay the amounts to the Regional Government."

The statement also referred to "immediately commencement of the delivery of oil produced in the region to the State Oil Marketing Organization (SOMO), or the Federal Ministry of Oil in accordance with paragraphs (a) and (b) of this clause, and the costs of production and transportation shall be compensated by the Federal Ministry of Finance as advances, at a rate of (16) dollars per barrel, to be settled later after the completion of the aforementioned specialized technical consultant, and retroactively from the date of commencement of delivery pursuant to this amendment."  link

Mot: ... Ya thinks We Has it Rough - Huh!!!! 

Mot: . In Case Yas Forgots!!!! 

Seeds of Wisdom RV and Economic Updates Tuesday Evening 11-5-24

Good Evening Dinar Recaps,

COINBASE DERIVATIVES TO LAUNCH SILVER AND STELLAR FUTURES

Coinbase Derivatives is expanding its portfolio of CFTC-regulated products with the introduction of futures contracts for silver (SLR) and stellar (XLM) in retail sizes on November 11.

More Options for Retail Traders With Silver (SLR) and Stellar (XLM) Futures

The latest addition to Coinbase Derivatives which already includes bitcoin (BTC), ethereum (ETH), bitcoin cash (BCH), litecoin (LTC), DOGE, SHIB, AVAX, DOT, LINK, Gold, and Oil will expand the company’s offering for retail traders.

Coinbase’s primary goal in launching new futures contracts is to create diversified markets that support risk management and price discovery. 

This informed the offering of the contracts in retail sizes, 50 troy ounces of silver and 5,000 stellar, removing obstacles for traders of all skill levels and enabling more participation in the futures markets.

In the blog post, Coinbase shared that adding traditional commodities such as silver along with a top cryptocurrency in stellar will create a more holistic trading environment.

Along with gold, silver has long been seen as a strategic asset that can provide some protection from market volatility and inflation. Stellar is well-known for providing quick and affordable cross-border payment solutions, adding a unique element to Coinbase’s offerings in digital asset derivatives.

CFTC-regulated derivatives are financial contracts whose value is derived from an underlying asset. These contracts are overseen by the Commodity Futures Trading Commission (CFTC) to ensure market integrity, investor protection, and systemic risk mitigation.

@ Newshounds News™

Source:  Bitcoin News

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EUROCLEAR, HSBC JOIN SINGAPORE’S GL1 PUBLIC PERMISSIONED BLOCKCHAIN INITIATIVE

Five banks have been working with the Monetary Authority of Singapore (MAS) to flesh out its vision of the Global Layer One (GL1) blockchain, a public permissioned blockchain network that could form the foundation of numerous applications. 

The five institutions are BNY, Citi, J.P. Morgan, MUFG and Societe Generale-FORGE. They will now be joined by HSBC and Euroclear. Some of the project’s scope has also been expanded.

There’s some crossover between the GL1 concept and the BIS’s unified ledger. Both aim to create a single infrastructure that will support multiple applications and asset classes. GL1 aims to enable trading, settlement, payments, collateral, corporate actions and more on a shared network.

When the group published the report on the first phase of work in June, we noted a willingness to embrace disruption by eliminating the need for key roles performed by central securities depositories (CSD). However, now a CSD (Euroclear) is one of the architects.

A major contribution that Euroclear brings is the digital asset securities control framework it developed with the DTCC and Clearstream.

That framework outlines six high level principles below and them maps each to risks and the specific controls to address those risks.

The six principles are:

▪️Legal certainty
▪️Regulatory compliance
▪️Resilience and security
▪️Safeguarding customer assets
▪️Connectivity and interoperability
▪️Operational scalability

Hence, MAS has created a new financial market infrastructure (FMI) working group to focus on these control principles, which will involve other FMIs.

Expanded GL1 scope
These principles will be applied to settlement arrangements for cross border transactions on FMIs and collateral management, amongst other applications.

Perhaps the most challenging new task is to develop a business model that doesn’t just work for banks but other ecosystem players as well.

The group will also develop specifications for tokenized asset lifecycles and programmable compliance.

We’d observe that as the group gets larger, it might require compromises as different participants may have worked on separate standards, which may not always be compatible. Developing common ground is a key path to interoperability.

Meanwhile, yesterday MAS outlined its vision for transitioning tokenization from experimentation to commercialization. GL1 is one of four pillars in that process.

@ Newshounds News™

Source: Ledger Insights

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🌱GAME CHANGER - LITHIUM  |  Youtube

Gipper's News Reader

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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Silver Exchanges Would CLOSE If This Happened | Bill Holter

Silver Exchanges Would CLOSE If This Happened | Bill Holter

Liberty and Finance:  11-5-2024

Former Wall Street branch manager and precious metals expert Bill Holter discusses the unsustainable trajectory of U.S. debt and its potential consequences for the economy.

He emphasizes the importance of securing wealth in physical gold and silver, highlighting the risks of holding assets in the traditional financial system.

Holter also touches on the real estate market, warning of a potential collapse in property values as credit tightens. Reflecting on past economic crises and current geopolitical trends, he suggests that countries like Russia and China are positioning themselves for a future where metals like silver and gold become central to global finance.

Holter predicts that as the demand for precious metals rises, particularly from sovereign nations, the price of gold and silver will surge, driven by both supply constraints and the impending financial instability.

INTERVIEW TIMELINE:

0:00 Intro

1:55 Debt bubble

4:35 Real estate

8:53 Civil unrest

14:19 Silver: 2011 vs now

23:30 Gold & silver storage

25:10 Privacy in gold & silver

28:20 Junk silver

https://www.youtube.com/watch?v=wjT3M_h5zBY

Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 11-5-24

Good Afternoon Dinar Recaps,

BLOCKCHAIN AFRICA CONFERENCE 2024: SET TO SHOWCASE LATEST DEVELOPMENTS IN AFRICAN BLOCKCHAIN AND CRYPTO INNOVATION

South Africa – Blockchain Africa Conference 2024 is set to unite blockchain developers, influencers, investors, entrepreneurs, and business leaders worldwide at the CSIR International Convention Centre in Pretoria (Tshwane) on 20 November 2024.

This premier event, marking the 10th edition and organized by Bitcoin Events, will foster collaboration and provide participants with insights into Africa’s dynamic and rapidly evolving blockchain and cryptocurrency ecosystem.

The conference offers a platform for networking, knowledge sharing, and collaboration, bringing together local and international experts to discuss the most significant trends in cryptocurrencies and blockchain technology.

Key Highlights of Blockchain Africa Conference 2024:

Engaging Keynote Speakers:

Charles Hoskinson (Virtual Keynote Speaker) – Founder of Cardano and IOHK. In his session titled “Empowering Africa’s Digital Future,” Hoskinson will share Cardano’s initiatives in Africa, focusing on their traction over the last six years in South Africa, Ethiopia, Kenya and Tanzania, amongst others.

Cardano has been instrumental in driving blockchain adoption in these regions through partnerships and projects aimed at improving digital identity, financial inclusion, and education systems.

Notably, in Ethiopia, Cardano collaborated with the Ministry of Education to implement a blockchain-based system to track the educational progress of 5 million students.

In South Africa, Cardano continues to engage with local developers and stakeholders to support blockchain education and develop sustainable solutions for economic growth. Hoskinson will outline these efforts and discuss future plans for expanding blockchain’s positive impact across the continent.

Ernest Mbenkum – Founder and CEO of Interstellar Inc. His keynote, “Pan-African Payment and Settlement System (PAPSS) and the Africa Currency Marketplace,” will delve into how PAPSS is transforming cross-border trade in Africa.

By facilitating transactions across 42 African currencies without relying on intermediary currencies like the U.S. dollar, PAPSS significantly reduces transaction costs, potentially saving up to $5 billion annually.

Developed in partnership with the African Union, the system already includes 115 commercial banks and 15 central banks, enhancing economic integration and streamlining payments across the continent.

Stafford Masie, Ex-CEO of Google Africa and current board member at Discovery Bank, will present on “The Power of Bitcoin: Exploring the Ingenious Mechanism of Proof of Work”. His keynote will highlight how Bitcoin mining in Africa offers unique opportunities for both individuals and organizations.

Panel Sessions Featuring Industry Giants:

The Role of Crypto Exchanges in Africa and Beyond: Featuring Chris Maurice (CEO and Co-Founder of Yellow Card), Badi Sudhakaran (Co-Founder and Chief Product Officer of VALR), and Marius Reitz (General Manager for Africa at Luno).

This session will delve into the role of crypto exchanges, the adoption of stablecoins, and how they are transforming cross-border payments and remittances in Africa.

Digital Assets: Navigating the Regulatory Landscape in South Africa: This panel will include a representative from one of South Africa’s regulatory bodies, Anne Njoroge (Chief Legal Officer at BankservAfrica) and Michail Le Roux (Senior Legal Counsel at Hanekom Attorneys Inc.) who will discuss recent developments like the issuance of CASP licenses and regulatory clarity for stablecoins in South Africa.

Fireside Chat: “OGs Unplugged – Insights from Crypto and Blockchain Trailblazers, 10 Years Later”: In celebration of the 10th edition of the Blockchain Africa Conference, this special fireside chat, will feature early pioneers like Elizabeth Rossiello, CEO of AZA Finance, and Ernest Mbenkum, Founder of Interstellar Inc. and the Bantu Blockchain Foundation.

 Both Elizabeth and Ernest have been instrumental in the development of Africa’s blockchain landscape, with Elizabeth having spoken at the inaugural conference back in 2015.

This session will not only reflect on their decade-long journeys but also explore how the industry has transformed over the years. Attendees can expect an engaging discussion on the evolution of blockchain technology in Africa, the impact of regulatory changes, and insights into future opportunities as we commemorate a decade of innovation and growth in the African crypto and blockchain space.

Stablecoins in Africa: Understanding Their Adoption and Impact: Panelists will explore the adoption and use of stablecoins across Africa, emphasizing their role in mitigating currency volatility and offering solutions for cross-border trade.

With nearly 70% of African countries facing foreign exchange shortages, stablecoins have emerged as a powerful tool for businesses and institutions to manage liquidity and stabilize their operations.

Connecting Cape Town’s Vibrant Web3 Community
Following the main event in Pretoria, the conference will move to Cape Town for a dedicated networking event with the local Web3 community.

 This exclusive gathering will allow international delegates to connect with Cape Town’s dynamic blockchain innovators, further expanding their networks and deepening their understanding of Africa’s thriving blockchain ecosystem.

@ Newshounds News™

Source:  CoinPedia

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CHAINLINK POWERS PILOT WITH SBI AND UBS FOR TOKENIZED FUND OPERATIONS ACROSS CHAINS

▪️An SBI and UBS pilot program that uses Chainlink’s Cross-Chain Interoperability Protocol (CCIP) has been completed.

▪️Chainlink recently announced its CCIP Private Transactions to promote the privacy of data among financial institutions.

Chainlink (LINK) has announced that SBI Digital Markets & UBS Asset Management have successfully completed a pilot program using Chainlink’s industry-standard Cross-Chain Interoperability Protocol (CCIP). According to an attached release, the CCIP was used to create a digital transfer agent smart contract to facilitate cross-chain communication with the tokenized fund contract.

Using the Chainlink platform and the feasibility of smart contracts, the pilot demonstrated the feasibility of streamlining fund operations across different blockchains and financial systems to force a shift in operational efficiency and transparency for the mutual fund industry worth around $63 trillion.

We’re excited to announce that SBI Digital Markets & UBS Asset Management successfully completed a pilot using Chainlink CCIP to streamline tokenized fund operations across different chains & financial systems.

More About the Pilot Program
According to our research, the Project Guardian pilots led by the Monetary Authority of Singapore and participated by the SBI Digital Markets (SBIDM) are focused on driving commercial adoption.

Meanwhile, SBIDM is also creating an end-to-end primary and secondary market distribution of tokenized securities. This is done through the connection of regulated digital asset exchanges across different regions in addition to collaboration with leaders in blockchain technology.

According to the Chief Executive Officer of SBI Digital Markets, Winston Quek, the team has adopted an “open and interoperable architecture in both operational structuring and tech engineering” to enable institutional investors to join the quest to unlock efficiencies via blockchain technology.

This year, SBI Digital Markets has focused its efforts on building regulated frameworks to facilitate the end-to-end flow of tokenized securities. From origination, tokenization, distribution, digital custody, listing on digital asset exchanges and building secondary trading – we have put in place workflows for efficient cross-border distribution networks whilst allowing for dual issuances in traditional and tokenized formats.

Delving deeper into the report, we uncovered that SBIDM has built on the success of its 2023 Project Guardian technical pilot with UBS Asset Management to achieve further operational efficiencies with smart contracts which are based on “automation of fund subscription and redemption workflows.”

Chainlink’s CCIP Private Transaction
Chainlink recently announced the launch of its CCIP Private Transactions to enable financial institutions to maintain data confidentiality. According to our report, Australia and New Zealand Banking Group (ANZ) was among the first to pilot its capabilities under the “Monetary Authority of Singapore (MAS) Project Guardian initiative.”

These new privacy capabilities allow institutional users to define privacy conditions in a manner that would privatize on-chain data from third parties.

Commenting on this, Chainlink co-founder Sergey Nazarov explained that the blockchain industry has not provided sufficient privacy for financial institutions to integrate them successfully as far as institutional transactions are concerned.

Now that private transactions across chains are possible, we expect an even greater influx of institutional adoption of blockchains, CCIP, and the Chainlink standard in general.

We are excited to continue our collaboration with ANZ and explore how to make large transactions across multiple chains in a way that helps meet their compliance and legal requirements, enabling their entry into the market and the growth of the entire blockchain industry through their exciting participation.

@ Newshounds News™

Source:   Crypto News Flash 

Read more:  MAS Project Guardian

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🌱 TREASURY - CBDCS OVER STABLECOINS | Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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More News, Rumors and Opinions Tuesday Afternoon 11-5-2024

US Treasury Adds $104 Billion to National Debt in One Day

US Treasury Adds $104,000,000,000 To National Debt in One Day As Total Outstanding Debt Shatters Record High at $35,951,000,000,000

Daily Hodl Staff   November 4, 2024

The US national debt just hit a new record high after the Treasury Department added $104 billion to its outstanding balance in a single day.

The Treasury’s Debt to the Penny database shows the government’s pile of debt is close to $36 trillion, clocking in at $35.951601173936 trillion.

The US shattered the $35 trillion barrier in late July.

The grim milestone comes as a study from the nonpartisan Committee for a Responsible Federal Budget shows both presidential candidates will add trillions more to the national debt.

The CRFB says a Harris presidency could add $3.5 trillion to the debt over ten years, while a Trump presidency could add 7.75 trillion in the same time frame.

However, the agency warns its models have a wide range of possible spending outcomes.

“Our estimates come with a wide range of uncertainty, reflecting both different interpretations and estimates of the policies.

Under our low- and high-cost estimates, we estimate Vice President Harris’s plan could increase debt by between $300 billion and $8.30 trillion through 2035, while President Trump’s plan could increase debt by between $1.65 and $15.55 trillion.”

The agency says its estimates reflect the “expected fiscal impact” of the policies that the candidates have laid out on their campaign websites, official announcements, white papers and social media posts.

“The national debt currently stands at 99% of Gross Domestic Product (GDP) and is projected to grow from 102% of GDP at the start of FY 2026 to 125% by the end of 2035 based on the Congressional Budget Office’s (CBO) current law baseline.

The debt will exceed its record as a share of the economy – 106% set in 1946 – in just three years. Debt would continue to grow faster than the economy under either candidates’ plans and in most scenarios would grow faster and higher than under current law.”

Source: The Daily Hodl

https://dinarchronicles.com/2024/11/04/us-treasury-adds-104-billion-to-national-debt-in-one-day/

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

Mnt Goat  ...when you go to the bank to exchange the US Treasury is going to fund the initial exchange for the bank. It is all electronic...The US Treasury will own then own dinar. These banks will then turn a profit with the US Treasury for being the broker in the exchange. It will benefit them to collect as much of the 3 zero notes as possible...The US Treasury will keep a certain amount of the three zero notes for inter-banking and global trade with Iraq... Iraq has already guaranteed oil credits at so much a barrel...The US Treasury fully intends to also sell these oil credits at a profit margin to other countries needing the Iraq oil. I have asked my CBI contact multiple times on the fixed credit rate and I got varied amounts from $30 – 35 a barrel. So, it is not like Iraq has to shell out trillions back to the US to cover the cost of the funds for the exchanges...

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:  These exchange centers, they are dealing in dinars right now.  What they're doing is taking in the old three zero notes that we citizens have been holding on to for years...and putting that into the electronic platform.  We have paper to show us what we have in the bank.  It's the new electronic system.   FRANK:   The reason for it is because those numbers at a flip of a switch will be recalculated with the new exchange rate and credited to the citizens of Iraq...Dinar mattresses...you know very well what this means...The fact that they found a way to bring them in is just fantastic news.  This just speeds it up.

Tishwash:  The slogan "Made in Iraq" .. This is what it needs to achieve "real impact"

Economic expert Safwan Qusay confirmed that the slogan "Made in Iraq" will not achieve a real impact unless the appropriate financial tools are provided to enhance local industrial production.

Qusay said, "Recovering the due funds will contribute to expanding the scope of the Industrial Bank's influence in supporting the national industrial machine," adding that "Iraq is in dire need of specialized loans to support various industries such as tourism, entertainment, and the fishing industry, as these areas generate revenues that contribute to strengthening capital." 

Qusay explained that “the government’s support for local industry is not a paragraph placed in the general budget, but rather it can be done through purchasing local products for federal ministries, with the ministries’ allocations being transferred to the Ministry of Industry.” 

He pointed out that "the Industrial Bank needs a larger capital than announced, noting that achieving this goal can be done by recovering part of the debts due on some industrial loans and supporting projects affiliated with the Ministry of Industry through investments from the private sector."link

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Iraq CBI Reveals Plan-Argentina's Currency Investment

Edu Matrix:  11-5-2024

In this video, we dive into Iraq's recent digital banking initiatives to increase financial transparency and cybersecurity. With Central Bank Governor Ali Al-Allaq advocating for digital innovation, Iraq is emerging as a leader in the Middle East’s digital financial sector, setting the stage for future developments in digital currency.

The video also shares insights into Argentina's Central Bank's activities and the currency status for investing purposes. The president of Argentina is slowly getting rid of the country's shadow government to bring the country's finances into alignment.

Sources: US News Money / Reuters / Buenos Aires Times / Yahoo Finance

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

“Tidbits From TNT” Tuesday 11-5-2024

TNT:

Tishwash:  Launch of the International Chamber of Commerce in Iraq

The activities of the International Chamber of Commerce were launched in Baghdad on the sidelines of the International Arbitration Forum, with the aim of bringing the Iraqi economy closer to the world and achieving beneficial integration that changes the shape of the national economy and makes it occupy its true place among the world’s economies.

Chairman of the Parliamentary Investment Committee, Hassan Al-Khafaji, stressed that “the launch of the International Chamber of Commerce in Iraq contributes to discussing challenges at the local and international levels and works to stimulate international investments in the country in a way that enhances sustainable development trends.”

He added that “this step works to integrate Iraq with the world and its various markets with all their specializations,” and pointed out that “his committee supports all initiatives that advance the national economy and bring it closer to global economies.”

Global Economy

The representative of the President of the Federation of Chambers of Commerce, President of the Najaf Chamber, Haider Al-Athari, stated that “the opening of the chamber came to activate integration between the public and private sectors, as the Ministries of Trade and Foreign Affairs played an important role in this achievement, in addition to the role of the Federation of Chambers of Commerce and the private sector, which made a great effort in order for Iraq to take its real role in the global economic arena and be an important part of it.”

Business environment

The Director General of the Private Sector Development Department at the Ministry of Commerce, Malik Al-Durai’i, said: “The opening of the chamber represents an important step to enhance the business and investment environment in Iraq and came with the government’s support for the private sector, which will work to create global economic partnerships.”

He pointed out that “this step reflects the extent of Iraq’s commitment to openness to the global economy,” and pointed out that “the presence of international commercial arbitration in the country constitutes an important incentive for investments to enter the local labor market.”

Government vision

Deputy Chairman of the National Investment Commission, Salar Mohammed Amin, stressed that this step is “important for the Iraqi economy and brings Iraq closer to global economies, especially after the national economy witnessed openness to the international economic system, which is part of the Iraqi government’s vision.”

He pointed out that "international expectations indicate that the Iraqi economy will be the fastest growing in the coming years and will achieve a doubling of economic growth, and these are signs that encourage international efforts to enter the Iraqi field of work."  link

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Tishwash:  Parliamentary consensus to pass controversial laws soon - Urgent

 Member of the House of Representatives, Muhammad Al-Ziyadi, confirmed today, Tuesday (November 5, 2024), that the politically disputed laws will soon be passed during the next stage.

Al-Ziyadi said in an interview with Baghdad Today, "There is a parliamentary consensus on passing the controversial laws that were postponed for more than one session due to political differences, especially since those laws were postponed by some parties under the pretext of the absence of a parliament speaker who represents a major component of the Iraqi people."

He said, "The upcoming sessions will witness the passing of these laws, and there is a parliamentary consensus on this. There is also the possibility of extending the legislative session for one month in order to decide on these laws."

Al-Zaydi explained that "these laws require dialogues and consultations to put the final touches on them at the legal and political levels."

Last Thursday, the House of Representatives settled the issue of the position of the Speaker of the House, granting confidence to Mahmoud Al-Mashhadani after two rounds of voting.

According to observers, the Iraqi parliament, in its current session and the last three sessions, is facing accusations of repeated negligence in completing the voting on dozens of important laws that affect the lives of citizens.

Some of these laws relate to important economic issues, the distribution of wealth, and freedom of expression, by postponing these laws to later sessions, for reasons that can be summed up as disagreements between parties on the one hand, and the repeated absences of representatives on the other hand, in addition to the fact that some of these laws do not conform to the interests of different political parties and factions.  link

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Tishwash:  The Private Banks Association announces its support for Al-Sudani’s approach to localizing private sector employees’ salaries

The Iraqi Private Banks Association announced today, Tuesday, its full support for the directives of the Prime Minister, Mohammed Shia Al-Sudani, regarding the localization of salaries of private sector employees.

The Executive Director of the Iraqi Private Banks Association, Ali Tariq, said in a statement received by / Today's News / that "we appreciate the Prime Minister's directives to localize the salaries of private sector employees, and move from the use of cash to electronic payment in government institutions in the middle of next year completely, which are directives that reflect the government's commitment to implementing its approach to financial and economic reform."

He added, "Localizing the salaries of private sector employees, similar to public sector employees, and activating electronic collection, has great economic importance represented in increasing the rate of financial inclusion, improving transparency, supporting the digital economy, and increasing credit granted to the public, in addition to improving administrative efficiency and implementing automation in most public and private institutions, and increasing financial security.
" Tariq pointed out that "the Iraqi Private Banks Association is committed to full cooperation with government agencies and financial institutions in the country to achieve these goals." 

The Executive Director of the Iraqi Private Banks Association confirmed "the association's readiness to support all initiatives aimed at modernizing and developing the infrastructure of the financial sector." 
Tariq concluded his speech by saying, “We believe that these steps will enhance the stability of the financial system and push economic growth towards better levels, which will benefit individuals and institutions alike.”  link

Mot: I Did It! .. Finally managed to adjust the clock on the stove.

Mot:  ................ the ""Day After""