News, Rumors and Opinions Friday Afternoon 11-29-2024
Gold Telegraph: The World is Catching up
Nov. 28, 2024
The Czech Republic’s central bank aims to double its gold reserves to 100 metric tons within three years.
He says: “We need to reduce volatility; we need an asset with zero correlation to stocks, and that asset is gold.”
Gold is the foundation of the monetary system.
What do the 1930s and today represent in the United States? The net worth of the top 0.1% of the population is roughly equal to that of the bottom 90% combined. So, what happened in the 1930s?
Those dismissing the record pace of insider stock dumping overlook clear historical patterns. Meanwhile, central banks face massive unrealized losses, limiting their ability to print endlessly in the next major crisis. Now is the time for outside-the-box thinking.
Gold Telegraph: The World is Catching up
Nov. 28, 2024
The Czech Republic’s central bank aims to double its gold reserves to 100 metric tons within three years.
He says: “We need to reduce volatility; we need an asset with zero correlation to stocks, and that asset is gold.”
Gold is the foundation of the monetary system.
What do the 1930s and today represent in the United States? The net worth of the top 0.1% of the population is roughly equal to that of the bottom 90% combined. So, what happened in the 1930s?
Those dismissing the record pace of insider stock dumping overlook clear historical patterns. Meanwhile, central banks face massive unrealized losses, limiting their ability to print endlessly in the next major crisis. Now is the time for outside-the-box thinking.
To all the American readers and viewers, I would not be able to do what I love without you all.
Happy Thanksgiving. I hope it’s golden.
Buy now, pay later is surging in the United States. I warned about it years ago. Now, many people cling to it just to survive. This will end in tears. How this program is even allowed still baffles me.
BREAKING NEWS: AN EX-CHANCELLOR IN THE UK IS WARNING THAT A PLAN BY BRICS COUNTRIES TO CREATE A SEPARATE BANKING PAYMENTS SYSTEM COULD RENDER INTERNATIONAL SANCTIONS USELESS.
The world is catching up.
“Lord Lamont of Lerwick warned that a rival payments system would be a major threat to the Western-led financial system if it ever came to pass…”
Testifying before Congress as Fed chairman in 2015, Janet Yellen tersely informed the House Financial Services Committee “I don’t believe that the Fed should chain itself to any mechanical rule.” Unchained from rules—now that’s tyranny. – @judyshel
In my conversation with @judyshel, she shared a powerful story involving Janet Yellen, the current U.S. Treasury Secretary:
In a July 1996 Federal Reserve meeting, Janet Yellen argued for a 2% inflation target, citing a Keynesian perspective tied to “money illusion.”
She explained that giving workers a nominal 1% raise during 2% inflation effectively cuts real wages without them noticing. This perspective was met with laughter around the table. However, the laughter was clearly at the expense of regular Americans, whose purchasing power would be eroded.
https://dinarchronicles.com/2024/11/28/gold-telegraph-the-world-is-catching-up/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man What is expected from Iraq is a real effective exchange rate. I think that is what's coming. I think everybody has that expectation and they're openly telling them that expectation is real. They're doing it through media. That's happening. TV outlets have been describing the on goings in Iraq and also the neighboring countries and the trading partners. To me the expectations are amazing.
Militia Man They're talking about "financial risks". They weren't talking in that way when they were moving forward into an international world with the 1310. They're talking about preparedness for a change...They're focusing in on their banking sector. Article quote "These days there's growing interest in the banking sector in general both government and private sectors..." The banking sector is looking to be in good shape for this new stage. That's what they're presenting...
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Reviving the Gold Standard: Judy Shelton’s Proposal for a Gold-Convertible Treasury Bond
25 November 2024
Gold prices are significantly down on Monday morning. As the U.S. enters a shortened trading week due to the Thanksgiving holiday, the general market sentiment appears more optimistic, which is unfavorable for precious metals typically seen as safe-haven assets.
This improved risk appetite can be partially attributed to President-elect Trump’s selection of hedge fund manager Scott Bessent for the position of Treasury Secretary. The appointment of a financial industry insider to this key economic role has seemingly boosted investor confidence in the incoming administration’s economic policies. The price of gold is trading at $2642.39, down $73.80. The price of silver is trading at $30.39, down 95 cents.
Judy Shelton, a long-time advocate for sound money, has proposed an innovative approach to reintroduce a gold standard for the US dollar. Her plan involves issuing a 50-year Treasury bond that would be convertible into gold, potentially to be initiated by President Trump on July 4, 2026. This proposal aims to address the current monetary system’s shortcomings and restore stability to the dollar by tying it back to a tangible asset.
The concept of a gold-convertible Treasury bond serves multiple purposes. Firstly, it provides a mechanism for discovering the appropriate price for gold convertibility without the need to abolish the Federal Reserve or make drastic changes to the current monetary system.
Secondly, it would effectively utilize the United States’ substantial gold reserves, which are currently undervalued on government ledgers. By offering gold redeemability, the government could potentially issue extremely long-dated debt at lower interest rates, as the risk of future dollar devaluation would be mitigated. This approach aligns with Shelton’s view that currency should be a standardized measure for public use rather than a policy instrument for managing the economy.
Read Full article here: https://www.usagold.com/reviving-the-gold-standard-judy-sheltons-proposal-for-a-gold-convertible-treasury-bond/
Stock Market Highs, Consumer Lows: Adam Taggart on America’s Economic Divide
Kitco News : 11-29-2024
With U.S. debt surpassing $36 trillion and a debt-to-GDP ratio at 120%, Adam Taggart, host of Thoughtful Money, breaks down the alarming implications for the economy and investors.
In this in-depth conversation, Taggart examines the growing divide between Wall Street and Main Street, inflation’s impact on purchasing power, and the challenges of navigating an overvalued market driven by narrative and exuberance.
Taggart also delves into the Federal Reserve’s unusual rate-cut strategy amidst record debt, Trump’s pro-growth policies, and what it will take to transition to a stronger economy.
From the rise of gold and Bitcoin to the debate over fiat currency, sound money, and central bank digital currencies, this is a must-watch for anyone seeking clarity in a confusing economic landscape. Don’t miss it!
00:00 Introduction
02:04 Consumer Behavior and Economic Indicators
03:51 Market Sentiment and Investment Trends
05:26 Bitcoin and the FOMO Effect
07:37 Stock Market Valuations and Investor Expectations
11:30 The Divide Between Wall Street and Main Street
14:11 Trump's Economic Policies and Future Outlook
18:51 Federal Reserve and Interest Rate Predictions
21:35 Conclusion
BRICS+ Nations Determined to Trade in their Own Currencies
BRICS+ Nations Determined to Trade in their Own Currencies
Geopolitical Analyst: 11-29-2024
The global economic landscape is undergoing a significant transformation as the BRICS+ nations — Brazil, China, Egypt, Ethiopia, India, Iran, the Russian Federation, South Africa, and the United Arab Emirates — intensify their efforts to trade using local currencies.
This development, emphasized during their 16th summit in October 2024, highlights a collective determination to reduce reliance on the US dollar and euro, two currencies that have long dominated international trade.
BRICS+ Nations Determined to Trade in their Own Currencies
Geopolitical Analyst: 11-29-2024
The global economic landscape is undergoing a significant transformation as the BRICS+ nations — Brazil, China, Egypt, Ethiopia, India, Iran, the Russian Federation, South Africa, and the United Arab Emirates — intensify their efforts to trade using local currencies.
This development, emphasized during their 16th summit in October 2024, highlights a collective determination to reduce reliance on the US dollar and euro, two currencies that have long dominated international trade.
An economic and political imperative drives these countries to promote trading in their currencies. The reliance on major currencies often leads to increased transaction costs and vulnerabilities tied to the fluctuations and availability of these currencies.
For many nations, particularly those in the Global South, trading in currencies like the US dollar is fraught with challenges. Countries such as Ethiopia, whose currency (the birr) is not widely accepted internationally, face significant barriers when trying to engage in trade or to repay debts typically denominated in foreign currencies.
One principal advantage of using local currencies is lowering transaction costs. By trading in their own currencies, BRICS+ countries can streamline the process, making it easier and more efficient to conduct cross-border transactions. This financial autonomy not only enhances trade fluidity but also allows these nations to avoid the pitfalls of relying on currencies that are often tied to political agendas and economic sanctions.
Historically, certain currencies have garnered trust and value because they are backed by nations with robust economies and stable political systems. The US dollar, the euro, the British pound, and the Japanese yen have served as the currencies of choice for international trade, providing a sense of safety for traders and investors alike.
However, the need to transact in these dominant currencies can create economic bottlenecks for developing countries. For instance, if a country cannot earn enough of these major currencies through exports, it struggles to fulfill its import needs or pay off debts, which can hinder economic growth and overall development.
In the unique case of Russia, the country faces extensive sanctions due to its aggressive foreign policies, particularly its conflict with Ukraine. Here, diversifying currency options may offer a pathway to navigate these sanctions, allowing Russia to engage in international trade with alternatives to the dollar or euro.
The political motivations behind this shift are equally compelling. The imposition of sanctions, particularly through the SWIFT (Society for Worldwide Interbank Financial Telecommunication) system, has increasingly been used as a tool to exert pressure on nations. Established in 1973, SWIFT has become the backbone of international payments, facilitating secure communication between financial institutions globally. It has been used to impose financial sanctions on various countries, including Iran, Russia, and North Korea, effectively restricting their access to international financial markets.
By moving towards local currency trading, BRICS+ nations can potentially insulate themselves from future sanctions that utilize the current financial infrastructure which they cannot control. In doing so, they seek to reclaim their financial sovereignty and create a more balanced global trading environment.
While the move towards trading in local currencies is promising, it is fraught with challenges. The success of such a shift will depend on the willingness of these countries to establish robust financial systems capable of facilitating international trade without relying on the major currencies. Moreover, trust in local currencies must be cultivated among member nations and their trading partners for these currencies to gain acceptance on the global stage.
In conclusion, as BRICS+ nations embark on this journey towards de-dollarization, they navigate a complex landscape dominated by longstanding economic practices and geopolitical intricacies.
While the ambition to trade in local currencies holds the potential to reshape international trade dynamics and enhance economic resilience, its realization will require concerted efforts, cooperation, and trust among member states. The outcome of this initiative could largely determine the future of international trade and finance as a whole.
Seeds of Wisdom RV and Economic Updates Friday Morning 11-29-24
Good Morning Dinar Recaps,
DE-DOLLARIZATION: 2 COUNTRIES OFFICIALLY ABANDON THE US DOLLAR
While Trump is bolstering efforts to reinstate US dollar dominance, the de-dollarization agenda is still a heavy narrative that is spreading like wildfire on a global domain. The Trump regime is focusing on imposing taxes on countries moving away from the dollar, while on the other side, these two nations have stopped using the dollar for bilateral trade. Is de-dollarization an agenda that can truly end sometime soon?
These 2 Nations Have Moved Away From The Dollar
Iran and Russia, the two leading nations, have decided to move away from the US dollar. Iran’s central bank governor, Mohammad Reza Farzin, officially announced plans on how Iran has lately been conducting trade with Russia without using the US dollar.
Good Morning Dinar Recaps,
DE-DOLLARIZATION: 2 COUNTRIES OFFICIALLY ABANDON THE US DOLLAR
While Trump is bolstering efforts to reinstate US dollar dominance, the de-dollarization agenda is still a heavy narrative that is spreading like wildfire on a global domain. The Trump regime is focusing on imposing taxes on countries moving away from the dollar, while on the other side, these two nations have stopped using the dollar for bilateral trade. Is de-dollarization an agenda that can truly end sometime soon?
These 2 Nations Have Moved Away From The Dollar
Iran and Russia, the two leading nations, have decided to move away from the US dollar. Iran’s central bank governor, Mohammad Reza Farzin, officially announced plans on how Iran has lately been conducting trade with Russia without using the US dollar.
Farzin outlined how both nations have established agreements to conduct trade in local currencies, giving the multipolar currency narrative a new boost.
“We have entered into a currency agreement with Russia and fully removed the dollar. Now we only trade in rubles and rials,” Farzin later shared.
The Governor of the Central Bank of Iran later clarified how the financial authorities of both nations have agreed on the exchange rate to be used while conducting active transactions.
The recent data uploaded by the Kremlin also reflected the rising multipolar currency narrative. The fresh Kremlin data emphasize how Iran and Russia have conducted nearly 96% of their trade transactions in local currencies.
“The Kremlin reported on October 21 that the use of national currencies in mutual settlements between Iran and Russia was up 12.4% in 2024, making up 96% of all transactions.” Tass Media reported
The rising de-dollarization wave is hard to maneuver as the majority of the nations, under BRICS and ASEAN, are all proposing local currencies, urging nations to pivot away from the dollar
Trump Tightens His Tax Agenda
Trump, in his recent spree of announcements, has shared how Canada, Mexico, and China will encounter higher tax restrictions. The president-elect has decided to impose a 10% tax on Canada and Mexico to address and restrict illegal immigration and drug smuggling.
At the same time, Trump has imposed a 25% tax on China, touting it as a measure to curb excessive fentanyl imports.
@ Newshounds News™
Source: Watcher Guru
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CRYPTO EXCHANGE OKX ROLLS OUT SERVICES IN BELGIUM TO STRENGTHEN EUROPEAN PRESENCE
OKX expands its European footprint with a launch in Belgium, featuring free Euro deposits through a partnership with local payment provider Bancontact.
Seychelles-headquartered crypto exchange OKX has launched its services in Belgium, offering spot trading, conversion, and a range of crypto services through its exchange and wallet.
Belgian customers now have access to over 200 cryptocurrencies, including more than 60 crypto-euro trading pairs, along with Euro deposits and withdrawals, the company said in a Nov. 28 press release.
The exchange says the expansion in Belgium leverages Bancontact, Belgium’s online payment system, allowing customers to deposit funds instantly and free of charge. SEPA withdrawals and deposits are also available without fees.
OKX Europe general manager Erald Ghoos says the launch in Belgium marks a “key step in our regional expansion, supported by a local team and tailored services that meet the unique needs of Belgian customers.”
The Belgian launch is part of OKX’s broader strategy to increase its presence across Europe.
Earlier in 2024, the exchange debuted in the Netherlands and announced plans to establish OKX expands its European footprint with a launch in Belgium, featuring free Euro deposits through a partnership with local payment provider Bancontact.
Seychelles-headquartered crypto exchange OKX has launched its services in Belgium, offering spot trading, conversion, and a range of crypto services through its exchange and wallet.
Belgian customers now have access to over 200 cryptocurrencies, including more than 60 crypto-euro trading pairs, along with Euro deposits and withdrawals, the company said in a Nov. 28 press release.
The exchange says the expansion in Belgium leverages Bancontact, Belgium’s online payment system, allowing customers to deposit funds instantly and free of charge. SEPA withdrawals and deposits are also available without fees.
OKX Europe general manager Erald Ghoos says the launch in Belgium marks a “key step in our regional expansion, supported by a local team and tailored services that meet the unique needs of Belgian customers.”
The Belgian launch is part of OKX’s broader strategy to increase its presence across Europe. Earlier in 2024, the exchange debuted in the Netherlands and announced plans to establish a regulatory hub in Malta, where it secured a Class 4 Virtual Financial Assets license in 2021. The exchange said it plans to list additional tokens for Belgian users as part of its ongoing product expansion, though details on this initiative are yet to be disclosed.
@ Newshounds News™
Source: Crypto News
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COINBASE ENDS USDC REWARDS IN EUROPE AS MICA DEADLINE LOOMS
The crypto exchange will end its USDC yield program for EEA customers on December 1, citing the EU’s upcoming stablecoin regulations.
Crypto exchange Coinbase will discontinue its USDC Rewards program for customers in the European Economic Area (EEA) starting December 1, 2024, as part of its compliance with the European Union’s Markets in Crypto-Assets (MiCA) regulations.
Coinbase users reported receiving an email Thursday in which the exchange announced the termination of its yield program, which allowed users to earn rewards on their holdings of the USDC stablecoin.
The change comes as MiCA, introduced in June 2023, imposes stricter rules on stablecoins, classifying them as electronic money tokens (EMTs).
These rules ban interest-earning features and require issuers to maintain sufficient reserves and obtain e-money authorization in at least one EU member state.
Impacted customers will receive their final payments within the first ten business days of December. Until then, they can continue earning rewards on balances through November 30.
Many customers have expressed dissatisfaction with the changes. Paul Berg, co-founder of Sablier, sarcastically remarked on Twitter that he feels “very grateful to the EU” for shielding him from earning rewards on his USDC.
Ripple’s CTO David Schwartz weighed in, describing the situation as an example of regulations preventing companies from offering “pro-consumer” services.
Coinbase had hinted at the coming change October, announcing plans to delist or adjust non-compliant tokens ahead of MiCA’s full enforcement on December 30.
At the time, the crypto exchange told Decrypt it would provide a detailed transition plan in November to help European customers switch to compliant stablecoins, such as USDC and EURC.
On Wednesday, stablecoin issuer Tether also announced it will stop minting euro-backed tokens, citing regulatory hurdles in Europe.
Tether CEO Paolo Ardoino said the focus will now shift to expanding Hadron, its asset tokenization platform.
Coinbase did not immediately respond to Decrypt’s request for comment.
@ Newshounds News™
Source: Decrypt
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@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
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World's Largest Gold Deposit Found, Worth Over Us$80 Billion
World's Largest Gold Deposit Found, Worth Over Us$80 Billion
Mike McRae Thu, November 28, 2024
A deposit of high-quality gold ore containing around 1,000 metric tons (1,100 US tons) of the precious metal has been discovered in central China, according to Chinese state media.
Valued at approximately 600 billion yuan or US$83 billion, the discovery could be considered the largest and most lucrative reservoir of gold ever uncovered, surpassing the 900 metric tons estimated to lie within the mother of all gold reserves, South Deep mine in South Africa.
World's Largest Gold Deposit Found, Worth Over Us$80 Billion
Mike McRae Thu, November 28, 2024
A deposit of high-quality gold ore containing around 1,000 metric tons (1,100 US tons) of the precious metal has been discovered in central China, according to Chinese state media.
Valued at approximately 600 billion yuan or US$83 billion, the discovery could be considered the largest and most lucrative reservoir of gold ever uncovered, surpassing the 900 metric tons estimated to lie within the mother of all gold reserves, South Deep mine in South Africa.
This photo taken on 20 November 2024 shows drilled rock samples from the Wangu gold field in Pingjiang County, central China's Hunan Province. (Xinhua/Dai Bin)
The Geological Bureau of Hunan Province announced the detection of 40 gold veins within a depth of 2 kilometers (1.2 miles) in the northeast Hunan county of Pingjiang.
These alone were thought to contain 300 metric tons of gold, with 3D modeling suggesting additional reserves may be found to a depth of 3 kilometers.
"Many drilled rock cores showed visible gold," says bureau prospector Chen Rulin.
Core samples suggest every metric ton of ore could contain as much as 138 grams (nearly 5 ounces) of gold – an extraordinary level of quality considering ore excavated from underground mines is considered high grade if it contains more than 8 grams.
China already dominates the world's gold market with reserves considered to be in excess of 2,000 tons earlier in 2024, its mining industry contributing around 10 percent of the global output.
TO READ MORE: https://www.yahoo.com/news/worlds-largest-gold-deposit-found-012530485.html
“Bits and Pieces” In Dinarland Friday AM 11-29-2024
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Fri. 29 Nov. 2024
Compiled Fri. 29 Nov. 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Thurs. 28 Nov. 2024 Wolverine: “I’m under an NDA so can’t say much, but we are going to have a wonderful Christmas. Check your emails at hourly.”
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Fri. 29 Nov. 2024
Compiled Fri. 29 Nov. 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Thurs. 28 Nov. 2024 Wolverine: “I’m under an NDA so can’t say much, but we are going to have a wonderful Christmas. Check your emails at hourly.”
Thurs. 28 Nov. 2024 TNT Call:
We got a call from the committee guy. He said the IMF and UN just had a meeting and I was told to call and tell you the currencies that have been green lighted to go are the Iraqi Dinar, Zim, Venezuela Bolivar, Dong and Zimbabwe Zim.
The rest of the 4-5 countries currencies are being renegotiated.
Janet Yellen is gone. She resigned this past Sun. morning.
They are all afraid of the new administration.
They are supposed to vote on Friday in Parliament.
They were told it’s imminent. Be ready. No time set. They are on call right now.
Dinar $4.21, VND $2.47, Bolivar $.83, Zim $.30
A guy said a bank memo said to get your people ready for Friday after 2 pm, or the weekend.
So enjoy your holiday and get ready at a moment’s notice to get to the banks.
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Thurs. 28 Nov. 2024 Jon Dowling: “Wells Fargo is ready to go with the QFS and the US Debt Clock is Gold! 62,000 wealth managers nationwide ready to go! Get your affairs in order. Early Christmas thus year! Iraq finishing all the important laws this week.”
Thurs. 28 Nov. 2024: Russia and Iran have completely abandoned the US dollar in bilateral trade, shifting entirely to national currencies. “We have entered into a currency agreement with Russia and abandoned the dollar. Now we only trade in rubles and rials.”
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Judy Note:
The Global Economic Security and Reformation Act (GESARA) is dismantling the power structures that have enslaved humanity for centuries. With the full deployment of military operations and the quantum infrastructure of the Quantum Financial System (QFS), the Cabal’s grip on wealth and power is crumbling daily.
Possible Timing: Wed. 7 Nov. 2024: GESARA: The Largest Wealth Transfer in History – Secret Military Operations, Strikes, and Redemption Centers That Have Already Changed the World – Gazetteller
As of November 27, 2024, the world finds itself amid the greatest shift in modern history. The Global Economic Security and Reformation Act (GESARA) is no longer a whisper among the informed; it is a seismic wave dismantling the power structures that have enslaved humanity for centuries.
With the full deployment of military operations and the quantum infrastructure of the Quantum Financial System (QFS), the Cabal’s grip on wealth and power is crumbling daily.
GESARA’s Historic Wealth Transfer: November Updates November 15–20, 2024: The Foundation is Laid
Asset Seizures Intensify: Global military coalitions launched synchronized raids in Switzerland, Singapore, and the Caribbean, seizing over $12 trillion in hidden accounts. These funds, tied to human trafficking rings and illigal arms trades, are being funneled into GESARA projects, including debt forgiveness, infrastructure rebuilding, and clean energy programs.
Silent Wealth Disbursements Begin: In Brazil, India, and parts of Africa, locals began reporting sudden cancellations of long-standing debts without explanation. By November 20, an estimated 2.7 million individuals in these regions had their financial burdens lifted, a direct result of GESARA’s redistribution process.
Read full post here: https://dinarchronicles.com/2024/11/29/restored-republic-via-a-gcr-update-as-of-november-29-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Mnt Goat ...The news from Iraq is all still very good. There is so much progress. The BIG event of course, will be the ending of the current currency auction process and use of the new system already to implement. The CBI has told us that nearly 95% of the current payments needed for imports is covered by the four (4) correspondent banks for this purpose... remember that the clock is ticking and other outside banking relationships must take place but will most probably never take place unless the IQD is valuable again and most importantly on these terms it must also be reinstated back on FOREX for investors to “legally” use this currency in their portfolios of investments for their clients. This is the key. Yes, this is really just where we are right now...
Militia Man They're talking about "financial risks". They weren't talking in that way when they were moving forward into an international world with the 1310. They're talking about preparedness for a change...They're focusing in on their banking sector. Article quote "These days there's growing interest in the banking sector in general both government and private sectors..." The banking sector is looking to be in good shape for this new stage. That's what they're presenting...
Vietnam Dong Exchange Rate Economic Forecast Foreign Investors
Edu Matrix: 11-29-2024
Vietnam Dong Exchange Rate Economic Forecast #vnd Foreign investors are showing strong interest in southern Vietnam, focusing on cities like Dong Nai, Binh Duong, HCM City, and Long An.
The video shares the USD / VND Exchange Rate and explains why the VND keeps fluctuating against the US dollar.
High levels of foreign investments will decrease Vietnam's unemployment rate, which could quickly help the VND value increase—the video shares major foreign investments in Southern Vietnam in the coming year.
“Tidbits From TNT” Friday Morning 11-29-2024
TNT:
Tishwash: they do this every year this is not a sign the RV is happening although it would be a great time for it
Rafidain Bank announces suspension of credit activity in the middle of next month
For annual application purposes
Rafidain Bank announced today, Friday, the suspension of credit activity as of December 15th for the purposes of annual implementation.
Rafidain Bank announces the suspension of credit activity as of December 15th for annual implementation purposes.
TNT:
Tishwash: they do this every year this is not a sign the RV is happening although it would be a great time for it
Rafidain Bank announces suspension of credit activity in the middle of next month
For annual application purposes
Rafidain Bank announced today, Friday, the suspension of credit activity as of December 15th for the purposes of annual implementation.
Rafidain Bank announces the suspension of credit activity as of December 15th for annual implementation purposes.
The bank confirms that due to the approaching end of the fiscal year and for the purposes of the annual application and to make room for the liquidation of the suspended assets, preparing the annual statistics and inventory, and organizing the budgets, all types of credit activity will be suspended on 12/15/2024, and loan applications and other banking services will not be promoted.
The bank directed its branches in Baghdad and the governorates to complete all completed transaction requests that have advanced procedures before the above date. The bank added that work on promoting loans will resume early next year. link
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Tishwash: How does the United Nations view the steps of the Sudanese government in the economic file?
The United Nations praised the exceptional steps achieved by the government of Prime Minister Mohammed Shia al-Sudani in the areas of diversifying sources of income and the economy, and achieving food security, pledging to continue its support (the Iraqi government) in its efforts to achieve development and economic sustainability for Iraq.
The confirmations of the highest international organization in the world came from the Assistant Secretary-General of the United Nations and Regional Director for Arab States, Abdullah Al-Dardari, who said in an interview with the official newspaper, “The Iraqi government has begun to take rapid steps to diversify sources of income, especially since the government realizes that reliance on oil can not only end within a certain period, but that advanced technology is what must create valuable job opportunities for Iraqi youth who yearn for initiative, creativity and invention. Therefore, the Iraqi government has allocated funding resources in this direction, such as the Central Bank’s funding plan of (700) million dollars for activities related to environmental efficiency, renewable energy and energy efficiency.”
He pointed out that “the United Nations is ready to provide technical support to ensure the best for this credit line,” noting that “the United Nations helped prepare a local strategy for Iraqi medium and small companies and financing mechanisms for these companies and their right to access all available sources of financing, and to develop banking work so that it becomes focused on financing productive projects, and there is a great effort that we are making with the Iraqi government in this direction.”
The UN official confirmed that “Iraq has achieved a major accomplishment in the non-oil sector, after achieving an abundant wheat crop exceeding (6) million tons. This accomplishment was achieved under difficult climatic conditions and with a large government investment of about (500) million dollars through the use of drip irrigation mechanisms, providing support to farmers, purchasing at a price higher than the market price, and granting soft loans,” indicating that “this is evidence that government policies and government funding can encourage the private sector to produce, increase food security in Iraq, and reduce dependence on imports, which saves about (4) billion dollars from wheat imports annually, which is a very large amount,” considering “this a major accomplishment for the Iraqi government.”
He added, "The United Nations is ready to cooperate with Iraq to develop food security and agricultural production systems." link
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Tishwash: Details of the Kurdistan delegation's meeting with the Ministry of Oil.. Agreement on 3 points
Member of the Parliamentary Oil and Gas Committee, Sabah Subhi Haider, revealed details of the meeting that brought together the Undersecretary of the Iraqi Ministry of Oil, Ali Maaraj, with the representative of the Kurdistan Region in Baghdad, Faris Issa, and a number of members of parliament.
Today, Thursday, the Undersecretary of the Ministry of Oil for Distribution Affairs, Ali Maaraj, received the Head of the Kurdistan Region Representation Office, Faris Issa, and a number of members of the Council of Representatives attended the meeting.
Member of the Parliamentary Oil and Gas Committee, Sabah Subhi Haider, who was one of those present, said: “We visited the Ministry of Oil with Faris Issa, Minister of the Kurdistan Region Representation Office, and the Directors General of the Ministry of Natural Resources, and three main topics were discussed in the meeting.”
According to the MP, the attendees discussed the issue of “distributing kerosene to the Kurdistan Region, allocating a quantity of regular gasoline to the region, and calculating the standard liter volume of oil shipped to the region.”
Haidar confirmed that "the following results were reached during the meeting: 1- Immediately launching the region's share of kerosene, which is 50 million liters, 2- Anticipating the improvement of gasoline quantities in the central and southern governorates in order to determine a share for the region, 3- Reviewing the issue of the standard liter and the normal volume of oil sent to the region in the ministry until the problem is resolved."
According to the parliamentarian, the meeting this time focused on the issue of sending fuel to the region, and did not address the issue of resuming oil exports from Kurdistan, which is scheduled to begin early next year according to official statements. link
Mot.... Dinner was Great - Lets Watch the Game Now!!!!
Mot: . Here We Go Again!!!! – siiggghhhhhhhhhh
More News, Rumors and Opinions Thursday PM 11-28-2024
TNT:
Tishwash: Al-Tawki: Agreement on the region’s dues paves the way for broader understandings on the oil and gas law
Member of the Parliamentary Oil and Gas Committee, Kazem Al-Tawki, revealed an agreement that paves the way for broader understandings regarding the oil and gas law.
Al-Tawki told {Euphrates News} that: “The recent agreement with the Kurdistan region is considered a good initiative because the point of contention in the law was the issue of dues and the costs of extracting the region’s oil.”
He added, “It set a high ceiling for financial costs estimated at $22 to extract one barrel, although the costs of extracting oil in the south and the central government contracts do not exceed $12 as the highest cost.”
TNT:
Tishwash: Al-Tawki: Agreement on the region’s dues paves the way for broader understandings on the oil and gas law
Member of the Parliamentary Oil and Gas Committee, Kazem Al-Tawki, revealed an agreement that paves the way for broader understandings regarding the oil and gas law.
Al-Tawki told {Euphrates News} that: “The recent agreement with the Kurdistan region is considered a good initiative because the point of contention in the law was the issue of dues and the costs of extracting the region’s oil.”
He added, “It set a high ceiling for financial costs estimated at $22 to extract one barrel, although the costs of extracting oil in the south and the central government contracts do not exceed $12 as the highest cost.”
Al-Tawki expected that this agreement would lead to broader understandings regarding the oil and gas law. link
Ariel: Trump makes it real plain in this video
Donald Trump makes it real plain in this video. The goal is for currency like the Iraqi Dinar to reach parity with USD.
Iranian Rial
Vietnamese Dong
Zimbabwe Notes
Etc.
Level playing field. But in the process makes yourself very financially well off.
Nathan Weldon @WeldonNath21356
Watch Currency holders! IQD and VND X Link
https://dinarchronicles.com/2024/11/28/ariel-prolotario1-trump-makes-it-real-plain-in-this-video/
************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Mnt Goat In the study of the recent Iraqi census taking...you can clearly see the recent census was a national census taken with the help of the United Nations (UN). The UN every so many decades takes a global census to determine the world’s population and demographics. Iraq is also going to use this census as part of the Article 140 distribution of the Kurdistan monthly payments of oil revenues to the region from the GOI. It will also help resolve part of the Oil and Gas law...Note, I did not say excess oil revenues or oil wealth distribution...This census taking has VERY LITTLE to do with the HCL individual Oil revenue sharing/distribution... [Post 1 of 2]
Mnt Goat So, now since the census is taken, the GOI can legally compensate and prove why they are compensating the amounts to the Kurds. This is really WOW! news for us today...you can see how this census results would also be useful in rebuilding the Iraqi economy besides Article 140 and HCl disputes. It was way overdue. This is yet another sign to us investors that Iraq is now serious about moving ahead.[Post 2 of 2]
The REAL Value Of The Dollar (They Don't Want You To Know)
Lynette Zang: 11-28-2024
Today's video is answering the question of what the REAL value of the dollar is and why your purchasing power feels less and less everyday
FREEDOM ALERT! Texas Congressman Proposing Gold Backed Crypto for TEXAS! CAN IT WORK?!
(Bix Weir) 11-22-2024
Cody Harris, a Republican Party member of the Texas State House of Representatives, is proposing a State Currency for Texas consisting of physical gold backing a crypto currency. Of course the problem is 3rd party custody BUT it's a Start!
“Tidbits From TNT” 11-28-2024
TNT:
Tishwash: Trade Bank of Iraq launches first experimental Visa card
The Trade Bank of Iraq announced, on Wednesday, the launch of the first experimental Visa card.
The bank's media advisor, Aqil Al-Shuwaili, said in a statement, which was reviewed by "Al-Eqtisad News", that "the Iraqi Trade Bank has begun launching the first experimental Visa card."
He pointed out that "this visa included features for use in the online shopping process as well as for use in purchases link
TNT:
Tishwash: Trade Bank of Iraq launches first experimental Visa card
The Trade Bank of Iraq announced, on Wednesday, the launch of the first experimental Visa card.
The bank's media advisor, Aqil Al-Shuwaili, said in a statement, which was reviewed by "Al-Eqtisad News", that "the Iraqi Trade Bank has begun launching the first experimental Visa card."
He pointed out that "this visa included features for use in the online shopping process as well as for use in purchases link
Tishwash: International Development Bank signs a memorandum of understanding with the Arab Tourism Organization
The International Development Bank announced, on Wednesday, the signing of a memorandum of understanding with the Arab Tourism Organization under the patronage of Prime Minister Mohammed Shia Al-Sudani.
The bank said in a statement, seen by Al-Eqtisad News, that "it continues its leadership in supporting sustainable development by signing a memorandum of understanding with the Arab Tourism Organization."
It added, "The memorandum was signed between Chairman of the Board of Directors Ziad Khalaf Abdul and Chairman of the Arab Tourism Organization Bandar bin Fahd Al-Fahid in the presence of the Iraqi Minister of Culture and Tourism and a number of officials, under the patronage of Prime Minister Mohammed Shia Al-Sudani."
The statement continued, "The cooperation includes supporting tourism investments in Iraq through an insurance policy, and qualifying tourism facilities to obtain the highest quality marks with the launch of the "Arab Tourist Card" project in partnership with the international company "Visa."
It continued, "The Arab Tourist Card will provide competitive advantages to Arab tourists, such as health insurance, while ensuring that they benefit from the advantages granted by the international company Visa for this type of card, such as special discounts at hotels, restaurants and other tourism establishments, and many competitive advantages."
He added, "This step represents a new start to enhance joint Arab action, support inter-Arab tourism, and attract investments to support the promising tourism sector by integrating the efforts of the Iraqi private sector with the plans the Iraqi government has to develop the tourism reality, making Iraq, which is rich in tourism, religious, archaeological, and natural components, a tourism destination for all the world's poles." link
************
Tishwash: Lebanese Economy Minister: Our government is counting on Iraq for reconstruction
Lebanese Minister of Economy Amin Salam said that the Lebanese government is counting on Iraq's support in reconstruction.
According to Salam's statement, which was followed by "Ultra Iraq", "we are counting on Iraq's support and the Iraqi Prime Minister's initiative in reconstruction."
He said, "Iraq has not abandoned Lebanon, and we appreciate the Prime Minister's initiative in reconstruction, and we thank the Iraqi government and people for their efforts and continuous support for Lebanon."
Salam pointed out that "serious work has begun towards the second phase of saving Lebanon," indicating that "the American side is serious about a ceasefire to reach the stage of peace." link
Mot: .. and YOUR ""Turkey Name"" is!!!????
Mot: ... Fur that ""Other Crowd"" - vegan turkey
Seeds of Wisdom RV and Economic Updates Thursday Morning 11-28-24
Good Morning Dinar Recaps,
ROBINHOOD CRYPTO EU EXPANDS OFFERINGS WITH CIRCLE USDC STABLECOIN
Robinhood Crypto EU adds USDC stablecoin, providing users access to regulated dollar-backed digital assets and expanding crypto offerings.
▪️Robinhood Crypto EU added Circle's USDC stablecoin, giving 24M registered accounts access to the dollar-backed asset
▪️Circle's CEO confirmed USDC’s inclusion on Robinhood EU, alongside EURC, benefiting from Europe’s clear crypto regulations.
Good Morning Dinar Recaps,
ROBINHOOD CRYPTO EU EXPANDS OFFERINGS WITH CIRCLE USDC STABLECOIN
Robinhood Crypto EU adds USDC stablecoin, providing users access to regulated dollar-backed digital assets and expanding crypto offerings.
▪️Robinhood Crypto EU added Circle's USDC stablecoin, giving 24M registered accounts access to the dollar-backed asset
▪️Circle's CEO confirmed USDC’s inclusion on Robinhood EU, alongside EURC, benefiting from Europe’s clear crypto regulations.
▪️Robinhood EU supports 30+ digital assets.
Robinhood Crypto EU has expanded the options available on its platform, now including Circle’s USDC stablecoin to its European customers. The integration allows users to access a regulated digital asset that is dollar-based, expanding Robinhood’s product portfolio in the crypto space.
Robinhood Introduces USDC Stablecoin To European Users
According to a recent post on X, Robinhood Crypto EU has incorporated Circle’s USDC into its platform, enabling 24 million registered accounts to access the dollar-backed digital asset. This addition aligns with the trading platform’s strategy of offering users compliant options in the cryptocurrency space.
Circle’s CEO, Jeremy Allaire, acknowledged USDC coming on Robinhood stating that the platform could further boost the use of stablecoins in Europe. Beside USDC, Allaire emphasized on EURC, the euro stablecoin of Circle, as both assets operate within the framework of European regulations.
Circle’s CEO added,
“EURC is the largest Euro Stable, has grown fast this year, is taking advantage of clear and fair regulations in Europe (alongside USDC!) and is growing TX volume, onchain FX use, and more and more exchanges and wallets launching support.”
Crypto Services Across European Markets
Robinhood continues to broaden its cryptocurrency portfolio, offering support for over 30 digital assets. The platform provides the lowest-cost trading across European markets, further cementing its position as a leading crypto platform. The inclusion of USDC in its offerings demonstrates dedication to providing investors with a diverse range of options.
Recently, the trading platform added Dogwifhat (WIF), a Solana-based meme coin, to its list of supported cryptocurrencies. The listing triggered a surge in WIF price and trading volume, highlighting its influence on market trends within the crypto sector.
In parallel developments, Circle launched USDC stablecoin and Cross-Chain Transfer Protocol (CCTP) on the Aptos blockchain. This integration enables the native issuance of USDC on Aptos, improving its functionality within the network. It also enhances cross-chain interoperability and reduces dependence on bridged versions of the stablecoin.
The CCTP rollout facilitates seamless transfers between Aptos and other blockchains, such as Ethereum, Solana, and Base. The move complements Circle’s USDC strategy, further expanding its usability in decentralized finance.
@ Newshounds News™
Source: CoinGape
~~~~~~~~~
METAMASK INTEGRATES VENMO TO ENHANCE FIAT-TO-CRYPTO ONRAMP OPTIONS
MetaMask added a fiat on-ramp feature through Venmo, allowing US users to buy crypto using the payment app, according to a Nov. 27 announcement.
Crypto-focused fintech Moonpay enabled the new payment method.
Venmo, a PayPal subsidiary, introduced crypto transfers for its customers in April 2023. The company has supported buying, holding, and selling crypto since 2021.
Although the MetaMask fiat-to-crypto option is available in roughly 200 countries, the Venmo partnership is only available for US users.
Efforts on payments
MetaMask first launched a fiat-to-crypto feature in April 2023 and has since added support for payment options via Apple Pay, debit and credit cards, PayPal, wire transfer, and ACH bank transactions.
Other MetaMask partners include Transak, Stripe, Sardine, and Banxa, among others.
The company recently launched the MetaMask Card in August in partnership with Mastercard and crypto service provider Crypto Life. The card is still in its pilot phase and is only available in Europe and the UK.
The debit card allows users to spend balances in USD Coin (USDC), Tether USD (USDT), and Wrapped Ethereum (WETH) at any vendor that accepts Mastercard. Additionally, the card is supported by Apple Pay and Google Pay.
@ Newshounds News™
Source: CryptoSlate
~~~~~~~~~
🌱 WHAT IS THE BEST DICTIONARY | 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 Seeds of Wisdom Team™ Newsletter
Thank you Dinar Recaps
News, Rumors and Opinions Thursday AM 11-28-2024
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 Thurs. 28 Nov. 2024
Compiled Thurs. 28 Nov. 2024 12:01 am EST by Judy Byington
Wed. 27 Nov. 2024: Dr. Charlie Ward said that the EBS would sound in two days, while all indications were that the Global Currency Reset and RV were imminent, but no one knew when. The actual procedure for exchange appointments has not yet been announced.
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 Thurs. 28 Nov. 2024
Compiled Thurs. 28 Nov. 2024 12:01 am EST by Judy Byington
Wed. 27 Nov. 2024: Dr. Charlie Ward said that the EBS would sound in two days, while all indications were that the Global Currency Reset and RV were imminent, but no one knew when. The actual procedure for exchange appointments has not yet been announced.
Possible Timing: Dr. Charlie Ward on Telegram:
The EBS is about to 9allegedly) begin in just two days!
Buckle Up. Massive Shifts are coming and temporary Martial Law could be on the table.
As the White Hats pull the plug on the Deepstate’s corrupt banking system and transition us to the Quantum Financial System (QFS), chaos is imminent.
Riots, false flags, and turmoil in major cities are expected.
A market crash could be days away.
Total Communication failure is coming.
The EBS will transmit loud emergency alerts directly to mobile phones worldwide via the Starlink satellite system.
During this blackout, there will be (allegedly) NO internet, NO cell service, NOTHING. ATMs, credit, and debit card systems will also go down—they run on the internet. Think about it. This is not a drill.
Wells Fargo, JP Morgan Chase and Bank of America have (allegedly) declared Bankruptcy. More banks are following suit.
This time, there will be NO ONE to bail them out. Depositors could lose everything. Yes, a bank run is not only possible—it’s inevitable. The global financial collapse is here, and the United States is cornered: transition to the new system or perish. There is no other way.
Are you ready? The clock is ticking. The storm we’ve been warning you about is now overhead. Nothing can stop what is coming. EVERYTHING will change. Spread the word.
~~~~~~~~~~
Global Currency Reset:
Judy Note: All indications were that the Global Currency Reset and RV were imminent, but no one knew when the green light would light up.
Wed. 27 Nov. 2024: GESARA: The Largest Wealth Transfer in History – Secret Military Operations, Strikes, and Redemption Centers That Have Already Changed the World – Gazetteller
Tues. 26 Nov. 2024: BREAKING: Donald Trump Jr. Drops Bombshells! NESARA GESARA Brings No Income Tax, No Property Tax, and Flat 14% Tax Revolution! – amg-news.com – American Media Group
~~~~~~~~~~
Global Financial Crisis:
Wed. 27 Nov. 2024: The Bank of Russia announced on Wednesday that it will suspend foreign currency purchases until the end of the year to reduce the volatility in the financial market. The central bank said in the statement that the regulator will continue conducting currency sales operations linked to the National Welfare Fund on the domestic market, while deferred currency purchases are scheduled for next year. This year, the Russian central bank engaged in limited purchases of foreign currencies to stabilize the ruble. Earlier today, the Russian currency dropped to its lowest level against the dollar and the euro since March 2022 following Washington’s sanctions targeting Gazprom bank, Russia’s third-largest bank.
Read full post here: https://dinarchronicles.com/2024/11/28/restored-republic-via-a-gcr-update-as-of-november-28-2024/
************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY:
Sudani on television again this afternoon saying the CBI has progressed in the 77 past years and they they have dealt with all the challenges and the reforms...Alaq on television talking about the CBI...the more we listen the more it sounds like he's telling us they're going to be giving us our purchasing power very soon. FRANK: They're telling you your country...bank...economy is exploding. That's impossible at a program rate...It's their way of telling you what they promised you...purchasing power in your currency. It is coming.
Fnu Lnu We are hearing a constant drone of how the GOI is trying to combat the parallel market /black market. Once again, I am calling B.S.! Any thinking person can understand and realize, the way you put an instant end to the black market is to revalue the currency (IQD) to a rate higher / more valuable than the Dollar. I maintain that this is nothing more than a stall tactic to hold off the RV / RI of the IQD. Occam's Razor is almost always the correct answer, but why are they doing this?
Confirmed: China is the 'Secret' Gold Buyer
Arcadia Economics: 11-27-2024
After 18 months of consecutive additions to China's gold holdings, they have now gone several months without reporting any additional purchases.
Yet there's been dispute about whether they are buying gold that they're not reporting, and in this morning's show Vince Lanci confirms that they are indeed the 'secret' gold buyer.
To find out more, click to watch the video now!
Seeds of Wisdom RV and Economic Updates Wednesday Evening 11-27-24
Good Evening Dinar Recaps,
TRUMP’S TEAM PICKS PAUL ATKINS FOR SEC CHAIR: REPORT
In the ongoing developments surrounding the rapidly evolving cryptocurrency landscape, Donald Trump’s team has reportedly consider a new Securities and Exchange Commission (SEC) chair to replace the current chair, Gary Gensler. According to the latest report, the Trump’s team has consider pro-crypto former commissioner Paul Atkins for the SEC chair position.
Trump’s Team Consider Paul Atkins to Replace Gary Gensler
Atkins is known for his crypto expertise and innovative stance in supporting this rapidly evolving landscape. Following his election as SEC chair, there is a strong possibility that he could actively back and promote U.S. crypto regulation while encouraging rapid growth in the sector.
Good Evening Dinar Recaps,
TRUMP’S TEAM PICKS PAUL ATKINS FOR SEC CHAIR: REPORT
In the ongoing developments surrounding the rapidly evolving cryptocurrency landscape, Donald Trump’s team has reportedly consider a new Securities and Exchange Commission (SEC) chair to replace the current chair, Gary Gensler. According to the latest report, the Trump’s team has consider pro-crypto former commissioner Paul Atkins for the SEC chair position.
Trump’s Team Consider Paul Atkins to Replace Gary Gensler
Atkins is known for his crypto expertise and innovative stance in supporting this rapidly evolving landscape. Following his election as SEC chair, there is a strong possibility that he could actively back and promote U.S. crypto regulation while encouraging rapid growth in the sector.
Recently, Eleanor Terrett, a journalist at Fox Bussiness, noted on X (formerly Twitter),
“Atkins is someone who is not only crypto-savvy but possesses a deep understanding of the inner workings of the agency as both a former commissioner and staffer under two prior SEC Chairs — Richard C.”
Terrett further added that Atkins is seen as being capable of establishing a pro-innovation agenda while returning the agency to the so-called “gold standard” many in the Republican Party feel was lost under outgoing chair Gary Gensler.
Current Market Outlook
Following this much-awaited update, the overall cryptocurrency market began turning green.
As of press time, top assets including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) have registered gains of over 2.75%, 7.5%, and 6%, respectively, in the past 24 hours. Meanwhile, other major cryptocurrencies are experiencing similar upside momentum.
@ Newshounds News™
Source: CoinPedia
~~~~~~~~~
TETHER DOESN’T LIKE MICAR SO DITCHES EURO STABLECOIN
Tether, the issuer of the world’s largest stablecoin, doesn’t like Europe’s MiCA regulations. Other stablecoin issuers are also not keen on the requirement to put a substantial proportion of reserves into bank accounts, as required by MiCAR. But they nonetheless comply. Tether isn’t willing to do so, and today it confirmed it is shutting down EURT, its Euro stablecoin. Users have a year to redeem the coin.
EURT has a market capitalization of €26 million compared to Tether’s USD stablecoin at $132 billion. To date Tether has operated offshore so it’s likely just not worth the work involved to become MiCAR compliant.
MiCAR requires 30% of reserves to be held in bank accounts, with 60% for larger stablecoins. Tether views this as risky compared to investing in Treasuries. Bank deposits also pay less than government bonds.
“Until a more risk-averse framework is in place — one that fosters innovation and offers the stability and protection our users deserve — we have chosen to prioritize other initiatives,” Tether said in a statement.
Tether is known for keeping most of its stablecoin reserves in high risk assets in the past. The company is also accident prone. Over time the quality has improved significantly, but over 15% of its reserves would be considered moderate to high risk.
Instead of becoming MiCAR compliant itself, Tether’s investment arm (with assets separate from the stablecoin) has invested in Quantoz, a company that plans to issue MiCAR compliant US dollar and euro stablecoins. Quantoz will also use Tether’s Hadron tokenization infrastructure.
What about USDT in Europe?
MiCAR came into force for stablecoins at the end of June, but much of the regulations only apply from year end, at which time enforcement actions become a possibility.
The regulations don’t just apply to Euro stablecoins, but other currencies as well. There are caps of €200 million in daily transactions for non euro coins. Given Tether’s USDT sometimes transacts around $100 billion in a day, one might think it would breach these limits.
However, the limits relate to everyday retail transactions. It excludes crypto transactions and all investment transactions and only applies where both the payer and the recipient are within the EU. We previously published a deeper dive into the limits.
Meanwhile, Paxos, the regulated stablecoin issuer has acquired a MiCAR compliant firm, Membrane Finance.
Newshounds News™
Source: Ledger Insights
~~~~~~~~~
WHY ISO 20022 IS ABOUT TO REVOLUTIONIZE FEDWIRE PAYMENTS FOREVER | 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 Seeds of Wisdom Team™ Newsletter
Thank you Dinar Recaps
Good Evening Dinar Recaps,
TRUMP’S TEAM PICKS PAUL ATKINS FOR SEC CHAIR: REPORT
In the ongoing developments surrounding the rapidly evolving cryptocurrency landscape, Donald Trump’s team has reportedly consider a new Securities and Exchange Commission (SEC) chair to replace the current chair, Gary Gensler. According to the latest report, the Trump’s team has consider pro-crypto former commissioner Paul Atkins for the SEC chair position.
Trump’s Team Consider Paul Atkins to Replace Gary Gensler
Atkins is known for his crypto expertise and innovative stance in supporting this rapidly evolving landscape. Following his election as SEC chair, there is a strong possibility that he could actively back and promote U.S. crypto regulation while encouraging rapid growth in the sector.
Recently, Eleanor Terrett, a journalist at Fox Bussiness, noted on X (formerly Twitter),
“Atkins is someone who is not only crypto-savvy but possesses a deep understanding of the inner workings of the agency as both a former commissioner and staffer under two prior SEC Chairs — Richard C.”
Terrett further added that Atkins is seen as being capable of establishing a pro-innovation agenda while returning the agency to the so-called “gold standard” many in the Republican Party feel was lost under outgoing chair Gary Gensler.
Current Market Outlook
Following this much-awaited update, the overall cryptocurrency market began turning green.
As of press time, top assets including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) have registered gains of over 2.75%, 7.5%, and 6%, respectively, in the past 24 hours. Meanwhile, other major cryptocurrencies are experiencing similar upside momentum.
@ Newshounds News™
Source: CoinPedia
~~~~~~~~~
TETHER DOESN’T LIKE MICAR SO DITCHES EURO STABLECOIN
Tether, the issuer of the world’s largest stablecoin, doesn’t like Europe’s MiCA regulations. Other stablecoin issuers are also not keen on the requirement to put a substantial proportion of reserves into bank accounts, as required by MiCAR. But they nonetheless comply. Tether isn’t willing to do so, and today it confirmed it is shutting down EURT, its Euro stablecoin. Users have a year to redeem the coin.
EURT has a market capitalization of €26 million compared to Tether’s USD stablecoin at $132 billion. To date Tether has operated offshore so it’s likely just not worth the work involved to become MiCAR compliant.
MiCAR requires 30% of reserves to be held in bank accounts, with 60% for larger stablecoins. Tether views this as risky compared to investing in Treasuries. Bank deposits also pay less than government bonds.
“Until a more risk-averse framework is in place — one that fosters innovation and offers the stability and protection our users deserve — we have chosen to prioritize other initiatives,” Tether said in a statement.
Tether is known for keeping most of its stablecoin reserves in high risk assets in the past. The company is also accident prone. Over time the quality has improved significantly, but over 15% of its reserves would be considered moderate to high risk.
Instead of becoming MiCAR compliant itself, Tether’s investment arm (with assets separate from the stablecoin) has invested in Quantoz, a company that plans to issue MiCAR compliant US dollar and euro stablecoins. Quantoz will also use Tether’s Hadron tokenization infrastructure.
What about USDT in Europe?
MiCAR came into force for stablecoins at the end of June, but much of the regulations only apply from year end, at which time enforcement actions become a possibility.
The regulations don’t just apply to Euro stablecoins, but other currencies as well. There are caps of €200 million in daily transactions for non euro coins. Given Tether’s USDT sometimes transacts around $100 billion in a day, one might think it would breach these limits.
However, the limits relate to everyday retail transactions. It excludes crypto transactions and all investment transactions and only applies where both the payer and the recipient are within the EU. We previously published a deeper dive into the limits.
Meanwhile, Paxos, the regulated stablecoin issuer has acquired a MiCAR compliant firm, Membrane Finance.
Newshounds News™
Source: Ledger Insights
~~~~~~~~~
WHY ISO 20022 IS ABOUT TO REVOLUTIONIZE FEDWIRE PAYMENTS FOREVER | 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 Seeds of Wisdom Team™ Newsletter
Thank you Dinar Recaps