Seeds of Wisdom RV and Economic Updates Friday Morning 12-20-24

Good Morning Dinar Recaps,

MOROCCO TO ADOPT A LEGAL FRAMEWORK FOR CRYPTO ASSETS

Morocco aims to regulate the use of crypto assets without hindering innovation in the crypto ecosystem.

Legal Framework for Crypto Nears Adoption in Morocco

A legislative framework governing crypto assets in Morocco is almost ready for adoption, according to Abdellatif Jouahri, the governor of Morocco’s central bank, Bank Al-Maghrib (BAM). This framework seeks to promote financial innovation while regulating the usage of crypto assets.

The central bank governor shared the key update at the BAM council’s final meeting for 2024 with the crypto regulation aligning with G20 recommendations and addressing the risks linked with crypto assets.

According to the governor, the World Bank and the International Monetary Fund (IMF) provided technical assistance in the development of the framework with a clear aim to balance crypto innovation and a well-regulated financial environment.

“We want to regulate the use of crypto-assets without hindering the innovation that may arise from this ecosystem. We engaged all relevant parties to create this framework. This approach ensures effective adoption and minimizes uncertainties.” Jouahri said.

Morocco hopes to establish itself as one of the first developing nations to provide complete and clear legislation for crypto assets by putting this legal framework into effect.

This program equips the nation to handle the financial and economic difficulties posed by the digitalization of monetary systems. The adoption of the legislative text involves a period of public consultation, followed by parliamentary and cabinet approval.

In 2023, Morocco ranked 13th out of 20 nations with the biggest bitcoin usage, according to a survey by Insider Monkey while a Chainalysis global crypto adoption report in the same year ranked the North African nation 20th in crypto adoption.

@ Newshounds News™

Source:  Bitcoin News

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NIGERIAN SEC TIGHTENS CRYPTO MARKETING RULES

The SEC’s new rules on digital asset promotions aim to “curb the menace” of social media influencers promoting unregulated crypto products.

The Nigerian Securities and Exchange Commission (SEC) has updated its crypto rules, adding requirements on crypto-related marketing promotions from virtual asset service providers (VASPs) and social media influencers.

In its revised Digital Asset Rules, the SEC said that VASPs engaging third-party service providers to promote their crypto products must “obtain prior approval from the Commission.” The rules also require VASPs to ensure that the third-party provider complies with marketing rules set by the SEC.

The rules apply to any VASP offering services to the country’s residents and are scheduled to come into effect on June 30, 2025.  

New rules to “curb the menace” of Finfluencers

The SEC’s revisions also address the role of social media influencers, or “Finfluencers,” in promoting cryptocurrency products and services.

Crypto influencers must obtain a “no-objection authorization” from the SEC before publishing their digital asset ads. In addition, they must verify whether the company they are promoting is licensed by the SEC.

Finfluencers must also disclose if they received payment to promote the crypto products or services that they are promoting. Failure to comply can result in penalties, such as a minimum fine of 10 million Nigerian naira (about $6,400) or up to three years in jail.

The SEC also noted that they would monitor crypto ads actively to ensure they adhere to the rules. Violations would result in enforcement actions, including sanctions and financial penalties.

The SEC wrote that the new rules aim to “curb the menace and address the growing popularity of financial influencers.” The SEC said it wants to prevent sharing unauthorized financial investment products on social media or any other marketing mediums.

Nigeria plans to start enforcement actions on unregulated VASPs

At present, only two exchanges are regulated in Nigeria. On Aug. 29, the SEC issued its first provisional operating license to the African crypto exchange Quidax Technologies. It has also approved Busha Digital to operate in the country. The licenses allow the trading platforms to operate as registered exchanges in Nigeria.

On Sept. 9, the SEC said it plans to start enforcement actions against businesses involved in unregulated crypto transactions. Emomotimi Agama, the director-general of Nigeria’s SEC, said that the agency will take action against entities offering crypto services to Nigerians without the proper permits.

@ Newshounds News™

Source:  CoinTelegraph

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THIS SMALL DOLLAR CHANGED 1000 LIVES ON CHRISTMAS FRIDAY!  |  Youtube

Help us Help others in the community have a better Christmas with just a dollar.  Link

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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News, Rumors and Opinions Friday AM 12-20-2024

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. 20 Dec. 2024

Compiled Fri. 20 Dec. 2024 12:01 am EST by Judy Byington

Judy Note: Members of Congress tried to pass another out of control debt and spending stopgap funding bill that used an already fiat US Dollar – but Elon Musk alone (allegedly) killed the 1,500 page bill where they demanded huge raises and provisions so Congress couldn’t be investigated. KiLL BILL: Elon Musk Singlehandedly Defeats 1,547 Spending Bill? | WLT Report

Then Trump took 24 hours to reduce the 1,500 page bill to just over 100 pages, but it still didn’t pass Congress and because it didn’t, the Government will shut down when their funding expires as the clock strikes 12:01 am on Sat. 21 Dec. 2024. https://www.nbcwashington.com/news/local/congress-has-to-pass-another-stopgap-funding-bill-what-happens-in-a-shutdown/3784733/

So, now we have the US Inc. government shutting down because Congress didn’t pass a budget for this past year. And, Congress wouldn’t pass a budget because they were(allegedly)  afraid of a US citizenship who were mad at a 1,500 page stop gap funding extension bill that contained certain provisions.

Those provisions not only protected Congress people from being held accountable for their actions, but those same Congress people were giving themselves huge raises at a time when the fiat dollar wasn’t being accepted for foreign trade, Americans couldn’t afford gas, put food on the table and were losing their jobs and homes.

All because Congress had functioned on a fiat US Dollar since 2008 and hadn’t functioned on a budget since US Inc. was formed way back in 1918. I mean, you gotta be responsible for yourself at some point, don’t you Congress?

What’s interesting was the timing to close the broke US Inc. government. As of tomorrow the privately owned US Inc. government would (allegedly) have no money to function on at the same time the new US Restored Republic Treasury was (allegedly) entering their new gold/asset-backed US Treasury Notes into the Global Financial System and therefore burying the US Inc.’s worthless fiat US Dollar.

In other words, why pass a budget on a fiat dollar that would(allegedly)  no longer exist?

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Possible Timing:

As of Sat. 14 Dec. 2024 Debt Forgiveness & Wealth Redistribution (allegedly) Began: millions worldwide reported canceled mortgages, student loans, and credit card debts. Official encrypted messages confirm this is just the beginning.

Sun. 15 Dec. 2024: The (allegedly) beginning of the new Restored Republic Fiscal Year.

Mon. 16 Dec. 2024: Banks began(allegedly)  changing over to the new financial system as the Global Currency Reset rolled out.

Tues. 17 Dec. 2024: XRP, RLUSD, Iraqi Dinar went public. Redemption Centers became fully operational(allegedly). Banking Systems were beginning to(allegedly)  process the new gold/ asset-backed US Treasury Note (USTN).

Wed. 18 Dec. 2024: Beginning of Global Financial Collapse. …G***o TV on Telegram Tues. 3 Dec. 2024

Thurs. 26 Dec. 2024: Announcement of the Global Restoration Plan. Every citizen will(allegedly)  receive information about the new economic and legal structures. …Mr. Pool, Julian Assange on Telegram Wed. 4 Dec. 2024

Mon. 30 Dec. 2024: Final stages of the transition to the new financial system (allegedly) completed. People will begin to access their revalued currencies and debt relief programs(allegedly). …Mr. Pool, Julian Assange on Telegram Wed. 4 Dec. 2024

By Tues. 31 Dec. 2024, Redemption Centers will be (allegedly) open to the general public.

Wed. 1 Jan. 2025: Basil 4 compliance deadline January 2025 – all banks have to (allegedly) prove the money they have in their vault is backed by gold. A new era of Freedom and Prosperity officially begins. …Mr. Pool, Julian Assange on Telegram Wed. 4 Dec. 2024

Wed. 1 Jan. 2025: The R&R payments and Social Security increases will(allegedly)  begin.

Fri. 3 Jan. 2025: Global Unity announced as former Alliances restructure. Leaders will present plans for long term peace and cooperation across nations. …Nesara/Gesara on Telegram 5 Dec. 2024

Sun. 5 Jan. 2025: (allegedly) Release of advanced technologies previously suppressed. Free energy devices, healing technologies and environmental restoration tools will be (allegedly) made available to the public. …Nesara/Gesara on Telegram 5 Dec. 2024

Mon. 6 Jan. 2025: The Quantum Financial System (QFS) will officially be activated Worldwide(allegedly). This secure, transparent and decentralized system will replace the old banking structure, ensuring fairness and equality for all …Nesara/Gesara on Telegram 5 Dec. 2024

End of March 2025: The US Fiat Dollar will be (allegedly) phased out, no longer worth anything.

Read full post here:  https://dinarchronicles.com/2024/12/20/restored-republic-via-a-gcr-update-as-of-december-20-2024/

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

PompeyPeter  Constitutionally Iraq has to open its budget before the start of next year.  In other words, this year they got to open its budget.  That is part of the constitutional law of Iraq.  Failure to do so is big, big trouble.  They will be coming after those responsible...Iraq has changed in the sense that there's a will to get this done.  That is a huge difference...The winds have changed in Iraq have come about and they want to get this done.  Sudani is a man of his word.  He told the people this would be done this year.

Fnu Lnu  You WILL NOT have to go to Egypt, Syria, or Turkey to do your exchange. A large number of banks will be more than happy to help you with your exchange. They will be charging a nominal fee of 1% to 2%. I have it on reputable information that Wells Fargo and JPM Chase will spearhead this event. You can also go to a Currency Exchange... You may also use an off-premises exchange location commonly referred to as a Redemption Center. These are also banks who will have specialized offices with security guards and De La rue machines to validate and verify your currency and make the appropriate deposit in your own bank account or you may open an account at their bank. If you take this advice, you will exchange your Dinar effortlessly...

"2025 Could Be The Last Year For GOLD Under $3000" - Alan Hibbard

Mike Maloney:  12-20-2024

Gold and silver have taken center stage in 2024, with prices skyrocketing and demand hitting unprecedented levels. In this insightful discussion, Alan Hibbard of GoldSilver.com and Kurt Nelson of SummerHaven Investment Management share why 2025 might be a pivotal year for precious metals.

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

Seeds of Wisdom RV and Economic Updates Thursday Evening 12-19-24

Good Evening Dinar Recaps,

BIS CONSULTATIVE GROUP PROPOSES RETAIL CBDC ARCHITECTURE

According to a BIS report, Jamaica, Nigeria, China, Sweden, the Bahamas and Peru have CBDC programs in various stages of development.

The Bank for International Settlements (BIS) Consultative Group on Innovation and the Digital Economy has proposed a retail central bank digital currency (CBDC) architecture based on a hybrid approach where issuance and governance of the CBDC are handled by a country’s central bank while commercial banks provide consumer-facing services.

According to the BIS, the proposed CBDC framework takes a modular approach to design and will focus on a token-based model to promote privacy.

However, the CBDC architecture will also support account-based models where users have specific accounts tied to an entity. The authors of the proposal wrote:

“Privacy can be guaranteed by separating transaction from identity information, such that the latter remains with private intermediaries and users. This helps to reduce risks and ensure greater privacy protections than in other models.”

Despite promises of privacy, CBDCs are widely seen as the antithesis of permissionless finance, with lawmakers, individuals and even central banks raising concerns about systemic risks, privacy and viability.

CBDCs face widespread backlash

In September, the Bank of Canada backtracked its CBDC development after receiving public feedback indicating that Canadians had little interest in using a central bank digital currency.

In the United States, attorney John Deaton, known in the crypto community for representing XRP holders in the Securities and Exchange Commission lawsuit, vowed to fight against CBDCs.

The lawyer called the campaign against CBDCs “a hill to die on” and said the dangers of a centrally managed digital ledger to individual liberty were a major cause of concern.

A bill introduced by Missouri lawmaker Rick Brattin on Dec. 1 seeks to ban CBDCs in the state. Provisions in the bill would prohibit businesses from accepting CBDCs for payment and prevent any CBDC research or development.

European Parliament member Sarah Knafo recently called on the European Union to abandon CBDCs and adopt Bitcoin.

The European MP said the digital euro was an attempt to usher in totalitarianism and encouraged the European Union to establish a Bitcoin strategic reserve as other nation-states continue accruing the digital currency.

@ Newshounds News™

Source:  CoinTelegraph

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BINANCE.US TO RESUME USD SERVICES IN EARLY 2025 ANTICIPATING FAVORABLE REGULATIONS

In a latest development, Binance. US plans to resume USD services in early 2025, anticipating changes in U.S. crypto regulations. The exchange halted fiat operations in 2023 due to regulatory pressure and SEC claims.

Interim CEO Norman Reed noted on Wednesday that the current SEC administration has caused significant harm to American consumers and the crypto industry, including Binance.US.

SEC’s Regulatory Assault

In June 2023, the SEC accused the subsidiary of violating securities laws. It alleged the company offered unregistered investment products and engaged in anti-fraud practices. The platform has operated under restricted banking access since June 2023, when SEC civil claims triggered a suspension of dollar deposits and withdrawals.

He noted that a key part of this regulatory assault was a concerted initiative by the outgoing administration to unjustly deny cryptocurrency and fintech businesses access to banking services. Reed argues that the SEC’s resistance to innovation has hindered the U.S. financial system’s potential and blocked most Americans from accessing the benefits of blockchain technology.

Going Ahead With Optimism

Despite ongoing legal battles with the SEC, he is optimistic, emphasizing that the SEC has failed to provide evidence of any wrongdoing after 17 months of compliance. Looking forward, with Paul Atkin’s nomination as the next SEC Chair, he foresees a clear regulatory framework for digital assets in the U.S.

As USD services prepare for a return, Binance.US plans to launch new features in the coming months and expand its product lineup.

“While I can’t provide a definitive launch date yet, let me be clear: It is not a matter of if, but when,” interim CEO Norman Reed said in the statement. “We are closer than ever to restoring USD services and our plan is to achieve this important milestone in early 2025,” he added.

He underscored that the platform offers unique features, including 0% fee Bitcoin trading on BTC/USDC, which no other major U.S. crypto platform provides. It also supports 160 cryptocurrencies and staking for over 20 assets, offering more options than any other major on-chain staking platform in the U.S.

He strongly believes that 2025 will be a breakout year for Binance.US, with the teams working hard at building a comeback story for the ages.

@ Newshounds News™

Source:  CoinPedia

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🌱SOVEREIGN VS CITIZEN #CONSTITUTION #SOVEREIGNTY   |  Youtube

Mason speaks about Sovereign vs Citizen.

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Q & A Classroom Link  

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Seeds of Wisdom Team™ Website

Subscribe to Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps

More News, Rumors and Opinions Thursday PM 12-19-2024

KTFA:

Clare:  Al-Sudani: Iraq has become a reliable pivotal state in the region and the world

 12/18/2024   Baghdad-

The Council of Ministers, Mohammed Shia Al-Sudani, said that Iraq has become a reliable pivotal state in the region and the world, and pointed out that the religious authority emphasized the "6 principles", and we are required to work hard to implement them.

​Al-Sudani said during a televised interview with state television, which will be broadcast later, that "Iraq today is a reliable pivotal state in the region and the world."

He added, "We have good relations with our Arab, international and regional surroundings."

He pointed out that "the religious authority emphasized the '6 principles', and we are required to work hard to implement them."   LINK

Clare:  Central Bank of Iraq expands foreign transfers with new currencies

December 19, 2024

 The Central Bank of Iraq announced the expansion of foreign transfer channels for local banks to include new currencies: the Jordanian dinar and the Saudi riyal, and allowing Iraqi banks to finance trade with Turkey in euros after it was previously limited to using them with European Union countries,

In addition to transfers available in US dollars, Emirati dirhams, Chinese yuan and Indian rupees.
The bank explained that this step comes within its efforts to expand foreign trade financing options in various currencies and channels, and the bank has begun taking the necessary measures to meet banks' requests in these currencies.

The Central Bank indicated that this expansion in foreign transfer channels provides transfer operations at the official price, and aims to streamline transfers and involve a greater number of banks in foreign transfer operations, and expand the horizons of economic cooperation between Iraq and other countries, especially in light of the bank's efforts to find other channels to meet the volume of demand for various foreign currencies according to Iraq's dealings with those countries.

It is worth noting that a smooth transition took place during 2024 from the electronic platform to directly accredited correspondent banks, thus the Central Bank achieved a fundamental transformation in line with international banking practices, and this transition is widely praised.

 Central Bank of Iraq
Media Office
December 19, 2024

https://cbi.iq/news/view/2741

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Clare:  What are the objectives of expanding foreign transfer channels by the Central Bank of Iraq?

12/19/2024   Baghdad

Economic expert Alaa Al-Fahd revealed today, Thursday (December 19, 2024), the Central Bank of Iraq’s goal of expanding external transfer channels for local banks.

Al-Fahd said in an interview with Baghdad Today, "Within the Central Bank's policy and its continuous attempts to control foreign transfers to finance trade, especially in dollars, there is a continuous effort to expand the basket of foreign currencies used in imports, especially with countries with which we have import dealings, the transfer is in the currencies of the countries, and there was an agreement on this with the Turkish side, as well as the Emirates, China, and today with Jordan and Saudi Arabia."

He explained that "this step reduces the demand for the dollar to finance foreign trade, as most of the demand for the dollar is to finance foreign trade, and with the expansion of the currency basket, the pressure in the parallel (black) market on the dollar decreases, and this reduces the exchange rate in the local market."

He added, "This step will also allow many banks to deal with many countries according to the currencies of those countries, and this will enhance a major role in developing the work of banks in terms of experience, and its main goal is to control the dollar exchange rate and work to reduce it." LINK

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

Mnt Goat   a HUGE change or transformation has occurred...a transformation of Iraq like no other they have ever experienced. It has come on the heels of being released from Chapter VII. ...I am in close contact with the CBI committee that is responsible for rolling out the Project to Delete the Zeros. I get weekly statuses that are telling us that Iraq is only moving ahead and not backwards. I am told it won’t be long.

Frank26  [Iraq boots-on-the-ground report]  FIREFLY:
Mr Sammy says when the auctions close we will be using the lower notes because they will be needed with added value.  It will have to be out by then.  So we wait for the end of the auctions.  FRANK:  It boils down to one thing.  In order for you to get those lower notes is for the auctions to close...Mr. Sammy your boss is obligated to raise the value of your currency.

EDGE OF A POTENTIAL FINANCIAL SYSTEM TOTAL MELTDOWN. (CRITICAL UPDATES).

Greg Mannarino:  12-19-2024

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

Unraveling Powell's Latest Political Inflation Flip-Flop

Arcadia Economics:  12-19-2024

The Fed's latest meeting came and went yesterday, and they delivered their paradoxical 'Hawkish Cut' as expected by the markets.

 However as you already well know, there's a lot that can be gleaned from reading in between the lines of what the Fed does and doesn't say, and in this morning's show Vince Lanci unravels Powell's latest political inflation flip-flop.

https://www.youtube.com/watch?v=x9OoUpEUroQ

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 12-19-24

Good Afternoon Dinar Recaps,

BRICS CREATOR SAYS INDIA WILL BE 3RD LARGEST GLOBAL ECONOMY & KEY MEMBER

Things have changed dramatically for the BRICS bloc since the acronym was first coined in 2001. Over the last two years, it has become a key voice in the geopolitical and global economic sectors. Now, BRICS Creator Jim O’Neill has recently expressed his view on its trajectory, while noting that India is poised to soon be the third-largest global economy and a key alliance member.

In a recent interview with The Economic Times, the economist discussed the growth rate of the country. Specifically, he noted that India is “doing almost exactly what we thought over 20 years ago, and that is in the process of becoming bigger than Japan and Germany” and becoming a global force.

India Poised to be BRICS Leader? Jim O’Neill Discusses Shifting Power Balance

The last two years have seen the BRICS economic alliance notably increase in prominence. A massive reason for that has been its seeking of increased independence from a Western-dominated economic system. With de-dollarization being the focus, it has sought to increase the use of its own local currencies.

But that recent surge in prominence has overlooked the reality that the bloc has been in existence for more than 20 years. Moreover, it has continued to shift and change throughout that time. Now, the latest shift could be upon us. Indeed, BRICS creator Jim O’Neill has recently said India may well be on its way to being the third-largest global economy and a key BRICS member.

In a recent interview, O’Neill says India could be on its way to entering the top 3 “in the next five to ten years.” Moreover, he notes that the BRICS country is presented with a key opportunity in the near term.

“This is India’s chance to really demonstrate its ubiquity with some of the natural things in India’s favor.” Specifically, he noted that it is among the younger nations within the bloc. That is not the case for China, one of the key economies in the bloc. Moreover, it should lead to an increased labor force, while they should be able to thrive in a world shifting under a Trump-run America.

Interestingly, India’s relatively low global trade could help them as Trump returns to the White House, O’Neill notes. Tariff plans would not be as big a threat to the nation in the coming years. Meanwhile, the economist notes that Modi and India have been sought out by G7 and BRICS nations. They want India as an ally, and it is due to its strong growth prospects in the coming years.

@ Newshounds News™

Source:  Watcher Guru

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HONG KONG APPROVES 4 NEW CRYPTO TRADING PLATFORM LICENSES IN REGULATORY PUSH

The licensed platforms must meet rigorous standards and undergo evaluations to ensure compliance with global security practices.

Hong Kong’s Securities and Futures Commission (SFC) has issued licenses to four virtual asset trading platforms (VATPs), marking another step in its fast-tracked regulatory framework, according to a Dec. 18 statement.

The licensed platforms include:  Accumulus GBA Technology Ltd, DFX Labs Company Ltd, Hong Kong Digital Asset EX Limited, and Thousand Whales Technology (BVI) Ltd.

This brings the total number of licensed crypto trading platforms in the Asian city allowed to serve retail customers to seven, including HashKey Group, OSL, and the Hong Kong Virtual Asset Exchange (HKVAX).

Licensing regimes

The SFC stated that the recently licensed firms underwent rigorous on-site inspections earlier this year as part of the guidelines introduced in June. The inspections identified areas for improvement, which the firms addressed to secure their restricted licenses.

The licenses come with initial restrictions, but these will be lifted after the platforms pass a second-phase assessment by external evaluators. The process will ensure the platforms meet the required regulatory standards for full operational functionality.

The SFC emphasized that the VATPs must conduct vulnerability assessments and penetration tests through independent third parties. These evaluations are critical to maintaining security and align with global international standards.

The SFC’s Executive Director of Intermediaries, Eric Yip, stated that the licensing process involved close collaboration with the VATPs’ leadership teams. He highlighted the Commission’s dual focus on protecting investors while fostering growth in Hong Kong’s virtual asset ecosystem.

Yip said:

“We aim to strike a balance between safeguarding the interests of investors and facilitating continuous development for the virtual asset ecosystem in Hong Kong.”

Meanwhile, this development aligns with the SFC’s broader plan to expand the licensing of crypto businesses by year-end. In October, the regulator revealed that 11 additional VATPs are under license consideration, with approvals expected to roll out in batches.

The SFC’s proactive approach highlights Hong Kong’s commitment to becoming a global hub for virtual asset innovation while maintaining robust investor safeguards.

@ Newshounds News™

Source:  CryptoSlate

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News on Crypto Regulations for the US!  Bullish news for Utility Crypto!

Rich (CSC) announces that in early January, Congress will be passing crypto regulations soon after returning from break on January 3rd.  This will be followed by mass adoption of the utility ISO 20022 coins we have been talking about which will lead to the new financial system followed by the RV.  But we still have a while for all this to happen.  It just looks like it is all coming together a little sooner with regulations being addressed before the inauguration of Trump.  All good news.  

@ Newshounds News™

Source:  Common Sense Crypto

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OHIO JOINS GROWING TREND OF STATES CONSIDERING BITCOIN RESERVES

@ Newshounds News™

Source:  The Defiant

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FOREX TRADING: THE TAX SECRETS THEY WON'T TELL YOU  |  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  

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Follow the Timeline 

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The Fed Saves Its Own XXX at Your Expense

The Fed Saves Its Own XXX at Your Expense

Notes From the Field By James Hickman (Simon Black)  December 19, 2024

Marco Polo never actually set foot on Japanese soil. But that didn’t stop him from writing the most wildly exaggerated tales about the immense, incredible wealth of Japan-- which he called Cipangu.

Supposedly Marco Polo had spoken to merchants and traders who’d been there, but it’s entirely possible he made it all up—typical for Marco Polo and his tall tales.

Nevertheless, about a century and a half later, a young Italian sailor devoured Polo’s writings and became convinced he had to lead an expedition to Cipangu and exploit the unimaginable wealth described in Polo’s stories.

That sailor, of course, was Christopher Columbus. After years of struggling to secure the necessary investment, he finally set sail in 1492. When he landed in Hispaniola, he thought he’d found Asia.

The local chieftain greeted Columbus with gold. So Columbus, channeling his inner Marco Polo, sent a letter home in the spring of 1493 describing the incredible wealth and gold riches of the discovered island.

Word spread quickly—well, as quickly as could be expected in the 15th century. But eventually, other explorers mounted their own expeditions.

In 1521, Hernán Cortés sent gold and silver from Mexico back to Europe, which arrived in Brussels that August. The artist Albrecht Dürer, traveling through Brussels at the time, described the gold pieces as big as the sun, and the silver as big as the moon.

Ten years later, in 1532, Francisco Pizarro ambushed the Incan Emperor, Atahualpa, who had to pay a literal king’s ransom in silver and gold.

Before long, mines across Latin America were producing vast amounts of precious metals, and Spanish treasure ships were crisscrossing the Atlantic, transporting gold and silver back to Europe.

The King of Spain couldn’t believe his newfound wealth. But there was a side effect.

All this new gold and silver flowed into the Spanish economy (and also the economies of other European kingdoms). Yet farmers were growing the same amount of food. Artisans were making the same number of shoes, hats, and clothes.

In short, the supply of goods and services in Europe remained unchanged, yet the supply of money circulating in the economy increased dramatically.

The natural consequence was a bout of inflation that lasted more than a century. Economic historians refer to this period as the “Great Inflation” or sometimes “Price Revolution”.

It’s extraordinary that modern-day “experts” can’t seem to figure out this basic principle.

During the pandemic, the Federal Reserve increased the money supply by trillions of dollars, practically doubling the size of its balance sheet almost overnight in early 2020.

And unlike the Spanish in the 1500s, the Fed didn’t have to mine any gold and silver-- they just push some buttons, and, poof, trillions of dollars of new money.

At the same time, though, throughout 2020-2021, people were told to stay home, cower in fear, and NOT work. This resulted in a DECLINE in goods and services in the economy.

In short-- the supply of money increased dramatically, while the supply of goods and services decreased. The result? Inflation. And the problem still hasn’t been fixed.

The Fed has been playing the ‘hero’ role for most of this year, acting as if they saved the economy and slayed the evil inflation monster once and for all.

Well, the most recent inflation report finally put an end to their hubris. Inflation is up, and even the Fed can’t deny it any longer.

Bizarrely, at this week’s policy meeting, the Fed decided to CUT interest rates... which is pretty much the opposite of what a central bank is supposed to do when battling inflation.

But we’ve already discussed why they’re doing this:: the Fed is saving its own ass at your expense.

Throughout the pandemic, the Fed used its trillions of dollars of newly-created money to buy US government bonds at a time when interest rates were at all-time record lows (i.e. bond prices were at record highs).

But then interest rates rose significantly in 2022, so the value of the Fed’s bonds plummeted. As a result, the Fed’s losses now exceed $800 billion, making it the most insolvent bank in the history of the world.

It’s crazy to think that the most systemically important bank on the planet is insolvent. But that’s the truth.

The only way for the Fed to become solvent again is to inflate the value of its bond portfolio, which means cutting interest rates—even though this won’t arrest inflation and risks making it worse.

Bear in mind, these people failed to anticipate the consequences of printing trillions of dollars and slashing interest rates to zero back in 2020. They failed to notice inflation when it was obvious in 2021. They called it “transitory.” They failed to act.

And when they finally did act in 2022—far too late—they failed to anticipate the consequences of their rate hikes, including the bank failures we saw in 2023.

Now inflation is rising again, but they’re cutting rates. Totally backward policy. It’s sort of like how Congress tries to spend and borrow its way out of debt.

Sure, these people at the Fed are human beings. They’re fallible and will make mistakes just like anyone else. Yet they’ve been so consistently wrong on just about everything... while at the same time their mistakes affect the lives and livelihoods of hundreds of millions of people.

What’s really strange is that this system is completely involuntary. Everyone alive is substantially affected by the Fed’s decisions, but we don’t elect Fed leaders. Only a handful are even appointed by the President. The rest are appointed by commercial banks like Citibank and Bank of America, which technically “own” the Fed.

For a country that claims to be a beacon of representative democracy, it’s crazy that the people who have the most influence over our financial lives are unelected “experts” who have been consistently and woefully wrong at almost every turn.

To your freedom,   James Hickman   Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/trends/the-fed-saves-its-own-ass-at-your-expense-151918/

Ariel: The Final Step and Deleting the Zeros

Ariel: The Final Step and Deleting the Zeros

12-19-2024

Iraq Dinar Update (Important Read)

#4 The Final Step

First Strategic Objective: Support and Enhance Monetary Stability

This strategic framework outlines four key sub-objectives with their corresponding initiatives to maintain monetary stability:

1. Stability of the General Level of Prices

– Issue medium or long-term securities capabilities
– Manage monetary policy rates in alignment with monetary stability and economic growth requirements
– Support and stimulate microfinance development
– Implement a comprehensive national lending strategy

2. Stability of Exchange Rates

– Transition from platform-based to correspondent bank systems for foreign remittance procedures

3. Manage Reserves According to Best Practices

– Diversify investment tools based on source
– Enhance and increase gold reserves

4. Improve the Quality and Structure of the Iraqi Currency

– Introduce new high-quality currency issues with reduced environmental impact
– Establish a dedicated currency examination laboratory
– Implement automation for cash operations, including counting and sorting functions

Do you see how close we are? What is the 1st thing they have to do in #4? Introduce a new currency correct? And they also stated that they want to complete this within 10 days which brings us to Christmas.

Everything started on December 15th. This is where the 10 days come from.

What does this mean for an foreign investor like Americans or other?

U.S. investors who purchased IQD at a fraction of its nominal value (e.g., 1 IQD = 1/100th of a U.S. cent) have effectively acquired significant amounts of IQD for very little USD.

For example, if you spent $1 to purchase IQD, you might currently hold a substantial number of IQD notes because of the historically low exchange rate.

A reinstatement or revaluation at a 1:1 exchange rate (1 IQD = 1 USD) would mean each IQD note would be worth one U.S. dollar.

Example: A 100,000 IQD note, purchased for a minimal cost, would convert to $100,000 USD under a 1:1 exchange rate.

If the value of the IQD increases beyond 1:1 to, for example, 1:3 (1 IQD = 3 USD), the same 100,000 IQD would convert to $300,000 USD. At 1:8, it would convert to $800,000 USD.

What a 100k IQD Note Will Be Worth Once You Convert It To USD Upon Revaluation?

1:1 (100k)
1:2 (200k)
1:3 (300k)
1:4 (400k)
1:5 (500k)
1:6 (600k)
Etc.

This basic math. Because regardless if you hold IQD this will be what the exchange rate will be on the Forex. People who attempt to buy IQD after the reinstatement on international markets will not see any profits. Only those who bought IQD at 1/100th of its price for pennies on the dollar.

When Iraq talks about “deleting the three zeros,” it typically refers to removing the zeros from the exchange rate, not necessarily from the physical currency itself. This is why people are confused. You think they will take out a magic marker and erase zeros off a paper currency?

Please give me your IQD so I can save you from disappointment. I, promise I will not give it back.

Article Here: https://jaredaiq.net/News/7929

These are the 3 zeroes on the exchange rate they will be deleting. Which will make 0.00076/0.76. Not the currency. Which means if you have 100k once it goes international you would gain only 0.76/76,000 USD/ROI.

So imagine the other examples of 1:1 or higher?

https://dinarchronicles.com/2024/12/18/ariel-prolotario1-the-final-step-and-deleting-the-zeros/

News, Rumors and Opinions Thursday 12-19-2024

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. 19 Dec. 2024

Compiled Thurs. 19 Dec. 2024 12:01 am EST by Judy Byington

Global Currency Reset: (RUMORS)

Wed. 18 Dec. 2024 TNT: Yes, we are going to get paid.The RV is still going.

Banks are awaiting a memo from the Feds. that the Feds will send out this afternoon. It will (allegedly) go between now and Friday 19 Dec.

Everyone is waiting for the RLUSD Digital currency to go live.

The new rates are still there and live. VIPs are still exchanging.

Everyone is sitting in New York and not leaving until this is live – between now and Saturday morning.

~~~~~~~~~~~

Wed. 18 Dec. 2024 Wolverine: “I have talked to Paymasters and Reno. It’s all coming before Christmas. Platforms have to be closed by Friday, so it should be released between now and Saturday Morning. Please get ready as we are about to go warp speed. This is real this time and no rumor or hopium. It’s been very hard on me to do this for all of you as I’ve had sleepless nights trying to get information for all of you.

All platforms need to be close off by tomorrow or latest by Saturday so they can start releasing those funds. We are now at the cusp of this so I want everyone to remain close to God and give him thanks for everything that is coming. That opera will come out tomorrow by the grace of God.

Thank you for all the support you have given me and above all I like to thank my wife who has been a tremendous support to me as she has always said to me that I should never give up as she knew this was for the rescue of humanity. I also like to thank God above all else for giving me the strength to continue on and never given up. I will receive a call tomorrow but I don’t know what time so I can release the opera. Get ready everyone God bless everyone Your friend Wolverine

~~~~~~~~~~~

Wed. 18 Dec. 2024 Fed Chair Jerome Powell: Jerome Powell’s URGENT News For XRP, HBAR and XLM Holders (SHOCKING)

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Global Financial Crisis:

On Wed. 18 Dec. 2024 the Dow tumbled more than 1,100 points and marked its longest losing streak since 1974.

Wed. 18 Dec. 2024 ALERT: 7,100 Stores Closed in 2024 – War on Local Economies EXPOSED – Globalist Agendas Behind Retail Collapse – Big Banks and Corporations RIGGING the System RIGHT NOW! – Gazetteller

~~~~~~~~~~

The Real News for Wed. 18 Dec. 2024:

Wed. 18 Dec. 2024: WOW Buried in the 1500 page spending bill is a 40% PAY INCREASE FOR CONGRESS. Members of Congress salary will be increased from $174,000 to $243,000 per year.

Mon. 16 Dec. 2024: BREAKING!! NESARA’S SECRET ROLLOUT EXPOSED: THE GOLDEN AGE IS HERE! …Nesara/Gesara on Telegram

What’s Next?: Debt forgiveness, universal income, and a gold-backed currency are on the horizon. Public announcements by NESARA-aligned leaders will signal the start of a new era. The elites are crumbling, and the golden age is within reach.

Read full post here:  https://dinarchronicles.com/2024/12/19/restored-republic-via-a-gcr-update-as-of-december-19-2024/

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

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

Militia Man  The dollar auctions are what's the problem.  That's where the corruption is and that's about ready to go bye-bye because [Alaq] said he's getting rid of the black market.  The things he's doing is naturally gradually getting it done.  I think by changing the exchange rate with Article 12 in the Gazette, budget being exposed we're going to find out...They're not paying salaries and not reopening the oil after losing $20 billion to keep the exchange rate at 1310.  That doesn't make sense to anybody...

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:  Mr Sammy told me the dollar auctions were the main and only thing that was holding down the value of the Iraqi dinar and now that Iraq has opened channels to the international countries for money transfers and when the black market of the dollar auction closes it will allow the value of our currency to go up.  FRANK:  I agree with him 100%...The stoppage of the auctions is the key to everything.  All of the other dominoes are going to fall one after the other at a very fast pace...Sudani is working very hard to make sure that he closes the auctions with everything in place in order to give you purchasing power he promised you...

Why Did Fed Crash Markets Today (Wednesday) ? ‘Something Is Going To Break’ | Komal Sri-Kumar

David Lin:  12-18-2024

Komal Sri-Kumar, President of Sri-Kumar Global Strategies, discusses the latest FOMC decision and why equities tanked in response.

0:00 - Market reaction to Fed rate cut

6:00 - Pause in 2025

8:30 - Inflation outlook

11:30 - Tariffs and inflation

 16:35 - Labor market

 21:00 - Rate cuts and economic growth

23:20 - QT and QE

24:38 - Treasury yield outlook

28:00 - Are stocks signalling recession?

 29:20 - Geopolitical risks

32:40 - Deficit reduction

34:16 - Investment opportunities

 35:35 – DXY

https://www.youtube.com/watch?v=njP6dqkJenA

Seeds of Wisdom RV and Economic Updates Thursday Morning 12-19-24

Good Morning Dinar Recaps,

GERMANY’S DEKABANK LANDS CRYPTO CUSTODY LICENSE

Germany’s DekaBank has received a bank crypto custody license from German regulator BaFin and the European Central Bank (ECB). We believe Commerzbank was the first German bank licensed last year. However, other major banks have not received licenses, including DZ Bank.

BaFin has issued another 11 crypto custody licenses, mainly for crypto firms. One of them is the digital asset custody subsidiary of Hauck Aufhäuser Lampe Privatbank.

The difference with DekaBank and Commerzbank versus the crypto firms is they are licensed under the Banking Act (KWG).

This is DekaBank’s second new license this year. In July it received a license as a crypto securities registrar for the German issuance of DLT-based digital securities. These crypto securities don’t require a central securities depository (CSD) for issuance.

DekaBank is very active in the digital asset space. It is the founder of SWIAT, the blockchain platform for digital securities in which Standard Chartered and LBBW are also investors. In September Siemens used the platform to issue a €300 million digital bond.

Our understanding is that a crypto custody license is not needed for crypto securities, but is required for cryptocurrencies.

As part of the announcement, DekaBank said this allows the bank to operate throughout Europe under the EU’s MiCAR crypto legislation.

A MiCAR holdup?

We’ve previously reported that there’s a bit of a challenge with MiCAR for German institutions. In October 2023 a draft version of the Supervision of Crypto Markets Act (KMAG) was introduced. It’s the piece of legislation that supplants Germany’s old crypto rules with MiCAR. The problem is this legislation has not been passed and with the collapse of the German ruling coalition, it’s not likely soon.

Hence, while in theory DekaBank’s license will allow it to operate in the EU, we believe that may be subject to the passage of the KMAG law. We contacted DekaBank to confirm, but didn’t receive a response in time for publication.

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

XRP LAWSUIT: JOHN REED STARK SAYS JUDGE TORRES WAS ‘MISTAKEN,’ SLAMS RIPPLE DECISION

The legal battle between Ripple and the SEC has been gaining momentum as the January 15 hearing approaches. John Reed Stark, a former SEC enforcement official and crypto skeptic, recently appeared on Docket Media LLC podcast and opened up about the historic Ripple decisions. He said that the Ripple ruling doesn’t provide broad legal clarity and should only be applied to cases with similar specific facts.

He criticized the Ripple decision, claiming that many people misunderstand the ruling, likely because they haven’t fully read it. He argued that Judge Torres was ‘mistaken on multiple counts, a view shared by other judges who have reviewed the case.

“There’s so many things about the Ripple decision that people get entirely wrong because I don’t think they read it. It’s completely… it’s respectfully to Judge Torres, I think she was mistaken on multiple counts, as does Judge Rakoff and every single other judge that has looked at that decision (thought),” he said.

Stark pointed out that the Ripple decision was twofold. First, he agreed that the initial offering of XRP tokens to sophisticated investors should have been registered as securities to protect those investors. However, Stark disagreed with the decision when it came to the secondary market, where XRP was traded on exchanges.

‘Ripple Decision Created Confusion’

He argued that the lack of a direct relationship between Ripple and retail investors meant they weren’t protected, which he believes is an unfair argument. Stark compared it to buying stocks in companies, where investors don’t have a direct contractual relationship with the company but are still protected under securities regulations.

Stark also criticized the Ripple decision for creating confusion, especially after pro-crypto companies began citing it to argue that tokens were not securities. In response, the SEC sought an interlocutory appeal, hoping to stop the ongoing proceedings. However, the judge rejected the SEC’s request, stating that the Ripple decision could not be used as precedent unless the exact same circumstances were present.

@ Newshounds News™

Source:  CoinPedia

~~~~~~~~~

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“Tidbits From TNT” Thursday Morning 12-19-2024

TNT:

Tishwash:  In Jordanian Dinar and Saudi Riyal..Iraq expands foreign transfers with new currencies

The Central Bank of Iraq announced, on Thursday, the expansion of external transfer channels for local banks, to include new currencies other than the dollar, namely: the Jordanian dinar and the Saudi riyal.

The bank also decided to allow Iraqi banks to finance trade with Turkey in euros, after it was previously restricted to use with European Union countries, in addition to transfers available in US dollars, Emirati dirhams, Chinese yuan and Indian rupees.

The bank explained in a statement today that "this step comes within its efforts to expand foreign trade financing options in various currencies and channels, and the bank has begun taking the necessary measures to meet banks' requests in these currencies."

The statement also indicated that "this expansion in the foreign transfer channels provides transfer operations at the official price, and aims to streamline the transfer and involve a greater number of banks in foreign transfer operations, and expand the horizons of economic cooperation between Iraq and other countries, especially in light of the bank's efforts to find other channels to meet the volume of demand for various foreign currencies according to Iraq's dealings with those countries."

The bank confirmed that "a smooth transition took place during 2024 from the electronic platform to directly approved correspondent banks, and thus the Central Bank achieved a fundamental transformation in line with international banking practices, and this transition is widely praised." link

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

Tishwash:  Central Bank of Iraq expands foreign transfers with new currencies

The Central Bank of Iraq announced the expansion of foreign transfer channels for local banks to include new currencies: the Jordanian dinar and the Saudi riyal, and allowing Iraqi banks to finance trade with Turkey in euros after it was previously limited to using them with European Union countries, in addition to transfers available in US dollars, Emirati dirhams, Chinese yuan and Indian rupees.

The bank explained that this step comes within its efforts to expand foreign trade financing options in various currencies and channels, and the bank has begun taking the necessary measures to meet banks' requests in these currencies.

The Central Bank indicated that this expansion in foreign transfer channels provides transfer operations at the official price, and aims to streamline transfers and involve a greater number of banks in foreign transfer operations, and expand the horizons of economic cooperation between Iraq and other countries, especially in light of the bank's efforts to find other channels to meet the volume of demand for various foreign currencies according to Iraq's dealings with those countries.

It is worth noting that a smooth transition took place during 2024 from the electronic platform to directly accredited correspondent banks, thus the Central Bank achieved a fundamental transformation in line with international banking practices, and this transition is widely praised.

Central Bank of Iraq
Media Office
December 19, 2024  link

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

Tishwash:  Iraq Stock Exchange: Global Aspirations Amidst Internal Challenges

Financial markets are one of the modern economic pillars through which savings are directed towards investment, in addition to expressing the strength and stability of the economic stability in any country. Therefore, activating and developing the stock market is considered one of the basic matters that will help achieve development in Iraq, as it will provide investors with greater opportunities to invest in stocks and achieve profits.

However, the Iraqi Stock Exchange, when compared to the markets of neighboring countries, is considered small in terms of trading value, as foreign investors’ confidence in the Iraqi market is still low due to unstable political and economic factors, as well as administrative and legal procedures that hinder the opening of accounts for foreign investors and the transfer of profits.

The market was established in 1992 under the name of the Baghdad Stock Exchange pursuant to Law No. 24 of 1991. After 2003, its name was changed to the Iraq Stock Exchange. It was governmental and at that time was able to list 113 Iraqi private and mixed joint-stock companies.

Weakness of industry and agriculture

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, said in an interview with Shafaq News Agency, "Iraq inherited a one-sided economy that lives on oil revenues due to half a century of wars, conflicts, siege and economic isolation."

He added, "Unfortunately, the two most important sectors that form the backbone of the stock market's diversity are industrial manufacturing companies, agricultural companies, and the logistics companies associated with them, and these two sectors are very weak."

He continues, "The agricultural and industrial sectors only constitute 6 to 7% of the gross domestic product, and most of their activity is individual and non-contributing. It is natural for the market to follow the trend of the overall economy and its nature in terms of the degree of diversity."

Saleh points out that “the banks’ share in the stock market dominates more than 50% of the market’s activity, and there are commercial activities associated with it. This is due to the liberalization of the national economy with high liberalism that transformed the single-rent economy into a consumer market economy linked to external supply chains due to the high financing leverage provided by oil revenues and the operating expenses associated with them.”

He stressed that "the new economic policy of the state is based on a productive partnership between the state and the private sector to raise the levels of economic diversity. Therefore, the strength of the stock market is undoubtedly linked to the strength of economic diversity in our country."

Limited market hours

The broker in the Iraqi Stock Exchange, Mohammed Madloul, said in an interview with Shafak News Agency, "The Iraqi market is still backward compared to the countries of the region. For example, Egypt and the Emirates have a price tape for stocks that remains open for 24 hours in public squares and streets, and any citizen can buy company shares from outside the market. However, the situation in Iraq is limited to specific hours, and the market ends between the seller and the buyer during these hours."

He added, "The value of shares of some listed companies is being traded at prices lower than the dinar so far, which represents an image of the small size of investment that the market is suffering from," adding that "the market value of banking sector companies increased from 6.88 trillion Iraqi dinars in 2021 to reach 10 trillion dinars in 2024."

Small market

Economic expert Dhurgham Muhammad Ali said in an interview with Shafaq News Agency, "The Iraqi market is still small due to the lack of large companies and a strong private sector in Iraq, and thus the market's performance reflects the weakness of the various Iraqi development sectors and the public's weak confidence in it."

He explained that “trading in the market is still technically less than its Gulf counterparts, and we lack sound management of investment portfolios, and the value and volume of the stock exchange’s performance is directly proportional to the efficiency of the companies whose shares are listed on it, in addition to the weakness of brokerage firms and the restrictions imposed by the market on their work and the weak influence of the Securities and Exchange Commission, the supervisor and legislator of the local stock exchange.”

Smart devices for the market

For his part, the Executive Director of the Iraq Stock Exchange, Taha Ahmed Abdul Salam, pointed out in an interview with Shafak News Agency, that "economic and political stability play an important role and the future vision of joint-stock companies."

He explained that "the number of joint-stock companies in the market has increased from 105 to 107 companies, and we are working on listing new companies, which all play a role in attracting new investors."

He added, "The Iraqi market signed a contract with the Egyptian Stock Exchange to use OMS, which allows users to trade via smart devices, and we expect it to be launched in June or July of next year."

The Iraqi Stock Exchange is expected to witness a significant increase in the coming months and years, especially with the improvement in the revenues of the listed companies and the development of their businesses, which makes it a market capable of attracting domestic and foreign investments  link

Mot: And the Same ole Earl!!! 

Mot: ... Getting those Letters Sent in EARLY!!!! 

Seeds of Wisdom RV and Economic Updates Wednesday Evening 12-18-24

Good evening Dinar Recaps,

EL SALVADOR SECURES IMF DEAL AS BITCOIN ACCEPTANCE TURNS VOLUNTARY

The $1.4 billion IMF agreement establishes voluntary Bitcoin acceptance in the private sector while limiting public sector involvement.

▪️El Salvador reached a $1.4 billion agreement with IMF making Bitcoin acceptance voluntary.

▪️The deal includes fiscal measures and expects $3.5 billion additional financing from World Bank and regional banks.

El Salvador has secured a $1.4 billion agreement with the International Monetary Fund (IMF), marking a shift in the country’s crypto policies by making Bitcoin acceptance voluntary.

The agreement, which requires IMF Executive Board approval, includes fiscal consolidation measures targeting a 3.5% improvement in the primary balance over three years.

El Salvador’s public debt, which reached 85% of GDP in 2024, is expected to decrease under the program.

The deal anticipates additional financing of $3.5 billion from the World Bank and regional development banks to support the country’s economic reforms.

As part of the agreement, El Salvador will reduce Bitcoin’s role in its economy.

The government plans to make private sector adoption of Bitcoin voluntary while limiting public sector involvement.

Taxes will only be accepted in US dollars, further scaling back Bitcoin’s official use.

Officials will also gradually wind down the state-backed Chivo e-wallet operations and restrict Bitcoin-related transactions.

The announcement coincides with Bitcoin’s price decline to just above $100,000, following its recent all-time high of $108,000, as markets react to the Federal Reserve’s hawkish stance on interest rates.

El Salvador’s economy shows resilience amid these changes, benefiting from strong remittances, growing tourism, and improved security conditions.

@ Newshounds News™

Source:  Crypto Briefing

~~~~~~~~~

HONG KONG'S HASHKEY GROUP LAUNCHES ETHEREUM LAYER 2 HASHKEY CHAIN ON MAINNET

▪️HashKey Group has launched its Ethereum Layer 2 HashKey Chain on mainnet.

▪️HashKey joins other crypto firms like Coinbase and Kraken in building their own Layer 2 networks using the OP Stack.

HashKey Group has launched HashKey Chain on mainnet just eight months after first announcing plans to introduce its own Ethereum Layer 2.

HashKey Group is a Hong Kong-based regulated digital asset financial services provider offering trading, asset management, custody and blockchain ecosystem solutions.

During the testnet phase, which began on Nov. 11, the firm claims that HashKey Chain generated nearly 25 million transactions, registered more than 860,000 wallet addresses and achieved 400 transactions per second under test conditions.

A total of 50 projects were successfully deployed, with 300,000 community members actively participating, it said in a statement shared with The Block.

Similar to Coinbase’s leading Layer 2 network Base and Kraken’s upcoming Ink, HashKey Chain joins the broader Ethereum ecosystem as part of the Superchain — a network of interoperable Layer 2 blockchains built using Optimism's OP Stack, which enables seamless communication and scalability across networks.

Other projects, including OP Mainnet itself, Zora and Worldcoin, have already deployed Layer 2s on the Superchain, with the decentralized exchange Uniswap unveiling its own Unichain optimistic rollup plans in October.

“Leveraging the latest OP Stack and rollup technology, we have expanded network capacity to deliver a smoother user experience,” HashKey Eco Labs CEO Kay Lu said. “This also creates a secure, efficient, and developer-friendly environment for building transformative decentralized applications on a compliant and innovation-driven public chain.”

@ Newshounds News™

Source:  The Block

~~~~~~~~~

🌱THE REPUBLIC CITIZENSHIP #SOVEREIGNTY  |  Youtube

Mason on Citizenship

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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