Seeds of Wisdom RV and Economic Updates Friday Morning 10-18-24

Good Morning Dinar Recaps,

RIPPLE NEWS: SEC’S FORM C FILING SPARKS BACKDATING CONTROVERSY; HERE’S THE TRUTH

Today, the SEC shared specific details about its appeal regarding the Ripple XRP lawsuit. For the past two weeks, it was clear the SEC intended to appeal, and they have now filed a Form C to outline their arguments.

What the SEC is Appealing
The SEC is focusing on Ripple’s programmatic sales of XRP on digital asset trading platforms. They are also bringing Ripple executives Brad Garlinghouse and Chris Larsen back into the case, alleging that they aided and abetted these sales.

However, it’s important to note that the SEC is not appealing the court’s ruling that XRP is not a security, nor are they contesting the $125 million monetary penalty imposed on Ripple.

The fact that the SEC isn’t appealing the classification of XRP as a non-security is seen as a positive development for the market. However, there are still challenges ahead for Ripple and its executives.

Market Reaction and Legal Concerns
Following the SEC’s filing, some pro-XRP lawyers expressed concerns on social media, claiming that the SEC backdated their filing. They raised questions about the timing and ethics of the filing.

However, former SEC lawyer Marc Fagel pointed out that the SEC downloaded supporting documents just before submitting the filing, which raises suspicions about whether they were fully aware of their obligations.

Attorney Bill Morgan questioned the reasoning behind waiting a day to submit the documents and suggested that if they prepared the filing on the 17th but dated it the 16th, it could indicate ethical issues. Marc agreed, questioning why they would download the documents on the 16th and delay submitting them. While there could be a filing error, there’s currently no evidence to support that theory.

Marc replied and said, “Backdating is bad. I don’t think anyone would disagree (I spent several years at the SEC on backdated stock option cases). But we can speculate all sorts of things which would be bad without benefit of evidence.”

@ Newshounds News™

Source:  CoinPedia and Form C

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BRICS ADVANCES PLANS FOR ‘MULTICURRENCY SYSTEM,’ AIMING TO DETHRONE US DOLLAR

▪️Russia is proposing the use of multicurrency payments in BRICS to minimize the dependence upon the US dollar.

▪️Russia proposes using blockchain to minimize expenses and dependence on the conventional banking sector.

Russia has called on BRICS nations to establish a new cross-border payments network as part of a broader strategy to reduce dependency on the global financial system, including SWIFT. The proposal is to enhance the economic relations within the bloc and to promote intra-bloc dealings in local currencies.

This comes in the wake of several actions taken by the US and its allies, including closing major Russian banks from the Society for World Interbank Financial Telecommunication (SWIFT) and seizing Russia’s foreign assets. It is worth noting that Russia has been subjected to several severe sanctions since it launched the operation in Ukraine in February 2022.

BRICS Multicurrency System Proposal

The Russian Finance Ministry, the Bank of Russia and the Moscow-based Yakov & Partners have submitted a report on the ‘multicurrency system’. The proposed system would shield the BRICS countries from outside threats, including sanctions that have extraterritorial jurisdiction.

The report stresses that US foreign policy is not always congruent with other countries’ interests, and this is why the country needs financial independence.

The network would rely on a group of banks with international capabilities that would be able to operate in the local currencies of the BRICS countries. Further, it has been suggested that the BRICS member central banks should establish direct links to minimize the impacts of external financial pressures.

The plan also includes the establishment of new trading platforms for major goods, including oil, gas, grains, and gold, to boost trade within the BRICS countries. These measures are considered to be a broader plan for decreasing the use of the U.S. dollar in international transactions.

BRICS Members Prepare for Upcoming Summit in Kazan
While Russia has been trying to decrease its exposure to the US dollar, other members of the BRICS have remained connected to the dollar-dominated financial system. According to the Brookings Institution, the USD was used in 58% of cross-border transactions that did not involve the euro in 2022, and 54% of trade finance instruments were denominated in USD.

The release of Russia’s report comes amid preparation for the BRICS summit scheduled to take place in Kazan from the 22nd to the 24th of October. The summit will be led by President Vladimir Putin after the recent addition of Iran, the United Arab Emirates, Ethiopia, and Egypt into the bloc.

Russia also suggested in the report that DLT could further improve cross-border payments within the BRICS framework. The system would use tokens for settlements and be a multinational platform. The report notes that the major advantage of DLT is the ability to reduce credit risk.

In addition, the use of DLT can also decrease the time and the costs in the process since there are no need for correspondent banks and do compliance checks. The authors estimate that if BRICS countries use this system for half of their cross-border transactions, the total annual cost could be reduced by $15 billion.

@ Newshounds News™

Source:  Crypto News Flash

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🌍CONSTITUTION FRIDAY NIGHTS CALL  |  Youtube

Jim is part of the team that has researched the history of our Constitution over the last decade plus years and is a working member of the  Washington Assembly in Washington, a state of the Union of States that we know as America. 

He will answer any questions you have about how we lost our rights and why our government does not follow the Constitution as our founders laid out for us in our original Constitution of 1776.

If you have not heard of your Strawman accounts, how you lost your rights with your Birth Certificate, and how you are really a British citizen, then you need to join us on these calls and start asking questions.  He will even let you know how you can correct these atrocities. You can start by listening to previous calls on our youtube channel below under the video topic labeled The Constitution.

We have been lied to our whole lives by our government.  So come join us tonight and learn the truth about our real history.

Join us tonight at   5 PM PT  -   7 PM CT  -   8 PM ET   in the Constitution Room on Telegram

You can download the Telegram APP here:  https://telegram.org/

@ Newshounds News™  

Source:  Seeds of Wisdom Team RV Currency Facts

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“Tidbits From TNT” Friday Morning 10-18-2024

TNT:

Tishwash:  Al-Sudani to Lukoil delegation: The government attaches great importance to developing oil industries and production capacities

Prime Minister Mohammed Shia al-Sudani stressed, on Thursday, that the government attaches great importance to developing the oil industries and Iraqi production capabilities.

A statement from his office received by Al-Mirbad stated that "Prime Minister Mohammed Shia al-Sudani received a delegation from the Russian oil company Lukoil, where they reviewed the progress of cooperation with the company and the executive work it is undertaking in Iraq."

The statement added that "the Prime Minister listened to a briefing on the company's work in the West Qurna 2 and Orido oil fields, and the progress of implementation."

The Prime Minister stressed - according to the statement - that "the government attaches great importance to the issue of developing the oil industries and Iraqi production capabilities, and a priority in implementing development projects; in order to maximize revenues, especially in the field of transitioning to the production of various petroleum and petrochemical derivatives, based on a broad and strong infrastructure for the oil sector, especially in the field of extraction."  link

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Tishwash:  Government advisor identifies 4 directions to revitalize the private sector in Iraq

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed Iraq’s ability to activate the private sector through development funds.

Saleh told Al Furat News Agency: “The funds allocated to development funds can be greatly utilized to stimulate the private sector in Iraq, especially in light of major projects such as the Grand Faw Port and the Development Road.”

He said, "These projects represent strategic opportunities to stimulate economic growth and attract investments, and they also contribute to improving infrastructure and making Iraq an important center for maritime and land trade in the region."

Saleh pointed out that development funds can direct part of their investments to:

1 - Infrastructure supporting the private sector: through financing road, railway, port and airport projects, which contribute to improving the business environment and facilitating transportation and shipping operations.

2- Financing small and medium enterprises: Encouraging the growth of these projects through financial facilities such as soft loans or providing guarantees, which contributes to creating job opportunities and improving the local economy.

3- Investing in technology and innovation: Supporting the development of the private sector’s technical capabilities by financing research and development and encouraging companies to adopt new technologies that improve productivity and efficiency.

4- Developing the logistics sector: Providing financial support for logistics projects that contribute to supporting the port of Faw and linking Iraq to regional and international markets.

5- Stimulating the industrial sector: Allocating funds to develop national industries, especially those related to energy, manufacturing industries, and petrochemicals, to expand the local production base and enhance its competitiveness in global markets, noting the importance of the five industrial cities and economic zones proposed to be established on the path of development and their role in this regard. 

The Prime Minister's Advisor stressed that "thanks to these initiatives, Iraq will be able to revitalize the private sector and make it a major partner in economic development and achieve maximum benefit from its strategic geographical location."  link

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Al-Sudani chairs a meeting to follow up on efforts to develop the work of the government banking sector

 Prime Minister Mohammed Shia Al-Sudani chaired a meeting to follow up on efforts to develop the work of the government banking sector, in the presence of representatives of Ernst & Young Auditing and Financial Consulting. 

more details

Prime Minister Mohammed Shia Al-Sudani chaired a meeting on Thursday on efforts to develop the work of the government banking sector, in the presence of representatives of Ernst & Young for Auditing and Financial Consulting.

A statement issued by Al-Sudani's media office stated that during the meeting, a package of recommendations was presented by the company to proceed with the reform of Rafidain Bank, which included the new legal status of Rafidain Bank, its capital, its work strategy, and the new consultant who will work with the bank to meet the global requirements for modern banking.

The statement explained that these recommendations will be submitted to the Ministerial Council for the Economy, which will then submit them to the Council of Ministers for approval.

The statement quoted Al-Sudani as saying that the issue of restructuring Rafidain Bank is the first step in the government’s banking reforms, which have been given special attention to follow up on all reports related to it, submitted by the relevant authorities, especially the committee concerned with the restructuring process.

The Prime Minister stressed the importance of the banking sector reform project, which began with Rafidain Bank, pointing out the work to provide a bank with specifications and standards through which problems can be overcome and confidence can be given to citizens, in addition to enhancing cooperation with local and foreign investors.   limkn

Mot....... Why - I Say!! -- Why!!!  

Mot:  ...... Friday it is

Iraq Economic News and Points To Ponder Thursday Evening 10-17-24

Parliamentary Economic Committee Expects To Vote On Economic Reform Law Soon

Buratha News Agency1392024-10-17  The Parliamentary Committee on Economy, Industry and Trade expected the vote on the economic reform law to be held in the coming few days, as the committee’s deputy chairman, Yasser Al-Husseini, stated that “the law reached the House of Representatives in general and the Economy Committee in particular months ago, and it includes all laws that include the economic aspect,” according to the official Al-Sabah newspaper.

He added, "The committee held many workshops at all levels, whether for businessmen or industrial and economic experts," stressing that "the committee is proceeding with reading this law and working to vote on it during the next stage in cooperation with other specialized committees."

Al-Hussaini explained that "there are comments, whether from the representatives or from the experts, and they will be included in a paper prepared alongside the law," noting that "the committee is determined to vote on it with the available capabilities because it sees it as important in this law, which can bring about major reform in the economic reality of the country."

He also stressed the "importance of the Industrial Investment Law for the public and private sectors, to accurately diagnose this partnership," indicating that "the contracts concluded in accordance with this law will be beneficial and profitable for both parties, unlike some contracts whose negatives outweigh their positives in the industrial sector, and which oblige the state to long-term, impossible conditions."

He added that "the committee is proceeding with voting on the industrial investment law, which is no less important than other laws, despite some objections that have prevented voting on it so far," stressing that "the final stage of voting has been reached after consensus was reached between the political blocs objecting to its wording."   https://burathanews.com/arabic/economic/451753

Starting From Rafidain Bank.. Al-Sudani Stresses The Importance Of The Banking Sector Reform Project

Banks  Economy News – Baghdad  Prime Minister Mohammed Shia Al-Sudani stressed the importance of banking reform in enhancing citizen confidence and cooperation with local and foreign investors.

The Prime Minister's media office stated in a statement received by "Al-Eqtisad News" that "Al-Sudani chaired a special meeting on efforts related to developing the work of the government banking sector, in the presence of representatives of Ernst & Young for auditing and financial consulting."

During the meeting, "a package of recommendations was presented by the company to proceed with the reform of Rafidain Bank, which included the new legal status of Rafidain Bank, its capital, its work strategy, and the new consultant who will work with the bank to meet the global requirements for modern banking. These recommendations will be presented to the Ministerial Council for the Economy, which will then submit them to the Council of Ministers for approval."

He explained that "the subject of restructuring Rafidain Bank is the first step in the government's banking reforms, which have been given special attention to follow up on all reports related to it, submitted by the relevant authorities, especially by the committee concerned with the restructuring process."

The Prime Minister stressed "the importance of the banking sector reform project, which began with Rafidain Bank, pointing out the work to provide a bank with specifications and standards through which problems can be overcome and confidence given to citizens, in addition to enhancing cooperation with local and foreign investors."  https://economy-news.net/content.php?id=48839

Oil Prices Stabilize Amid Expectations Of Slowing Demand And Easing Supply Concerns

Thursday 17 October 2024 00:09 | EconomicNumber of readings: 336

Baghdad / NINA / Oil prices stabilized on Wednesday near their lowest levels in two weeks after falling by seven percent over the past three days, driven by expectations of a slowdown in global demand for crude.

Brent crude futures recorded a slight decrease of three cents to settle at $ 74.22 a barrel, while US West Texas Intermediate crude futures fell by 0.3%, falling 19 cents and settling at $ 70.39 a barrel.

Crude prices have witnessed a successive decline over the past two days, closing at their lowest levels since October 2, due to weak expectations for oil demand.

On the global demand front, OPEC and the International Energy Agency lowered their expectations for global oil demand growth in 2024, with experts attributing this reduction to weak demand from China, which is a major factor in these expectations. / https://ninanews.com/Website/News/Details?key=1162661

Iraq Stock Exchange: Trading Exceeds 18 Billion Dinars In October Week

10/17/2024  Mawazine News – Economy  The Iraq Stock Exchange announced today, Thursday, that shares worth more than 18 billion dinars were traded during five sessions this week, which is the third week of October.

According to market indicators, the number of shares traded during this week exceeded 19 billion shares, with a financial value exceeding 18 billion dinars.

The ISX60 market trading index closed at 970.86 points in the first session of the week, while it closed at the end of the week at 988.86 points, achieving an increase of 2.80% over its closing at the beginning of the week.

The ISX15 market trading index also closed at 1060.47 points in the first session of the week, to end the week at 1074.75 points, achieving an increase of 1.33% over its closing at the beginning of the week.

During the week, 4783 buy and sell contracts were executed on the shares of companies listed on the market, reflecting a noticeable activity in  trading. https://www.mawazin.net/Details.aspx?jimare=256036

Central Bank Sells Over $269 Million In Auction Today

Banks  Economy News – Baghdad  The Central Bank of Iraq announced today, Thursday, its sales of hard currency, which amounted to more than 269 million dollars in today's transactions, according to the official price of 1310.

The bank's data showed that the total internal cash withdrawals amounted to $8,850,000, while the total amounts of transfers abroad, including remittances and credits, amounted to $260,460,587, while the total sales amounted to $269,310,587.  https://economy-news.net/content.php?id=48844

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Thursday Evening 10-17-24

Good Evening Dinar Recaps,

IRELAND DRAFTING URGENT CRYPTO LAWS BEFORE EU MONEY-LAUNDERING RULES

Ireland is preparing to draft “urgent” cryptocurrency regulations ahead of upcoming European Union Anti-Money Laundering and terror financing standards.

Ireland’s Finance Minister, Jack Chambers, told the cabinet that urgent legislation would be drafted to update crypto regulations before the EU laws take effect on Dec. 30, the Irish Examiner reported on Oct. 16.

No details were shared about the new crypto legislation or when it might come into force.

The EU’s “Anti-Money Laundering and Countering the Financing of Terrorism Act” will enhance the powers of financial intelligence units, enabling them to suspend transactions.

It will also impose stricter reporting requirements for crypto exchanges and a 10,000 euro ($10,850) limit on cash payments. There will be more stringent monitoring of large transactions and new reporting requirements for high-value transactions.

The legislative framework covers a range of areas posing risks, including crypto assets and crowdfunding. It also “complements other regulations such as Markets in Crypto-Assets Regulation (MiCA),” the European Commission noted earlier.

In September, Derville Rowland, deputy governor of the Central Bank of Ireland, said that the country aims to stay at the forefront of safe innovation through MiCA.

She said that crypto regulations were essential for Europe to become a global leader in adapting and adopting new technologies.

The EU’s MiCA regulations — separate from its AML/CFT act — came into effect in June 2023.

“It is important that Ireland, as a small, open economy with a thriving financial services industry, is an active participant in preventing its financial system from being used for money laundering and terrorist financing purposes,” said the Central Bank of Ireland.

As of July, the Central Bank of Ireland had approved 15 virtual asset service providers. These included Gemini, Ripple, Paysafe, MoonPay and Coinbase, which agreed to delist non-compliant stablecoins from its European platform.

@ Newshounds News™

Source:  CoinTelegraph 

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XLM NEWS: PAXOS ANNOUNCES STELLAR NETWORK INTEGRATION TO DRIVE STABLECOIN ADOPTION

▪️Paxos’ integration with the Stellar network aims to accelerate institutional adoption of stablecoins, enhancing global access to digital dollars.

▪️The partnership highlights Paxos’ focus on regulatory compliance and trust, positioning both companies to drive stablecoin adoption in global financial markets.

Paxos, known for its highly regulated tokenization platform, continues to build trust and credibility by complying with financial regulations in every region it operates.

 Following a recent CNF update on leading stablecoin issuers embracing an international set of stablecoin standards, Paxos announced its integration with the Stellar network at the Meridian 2024 conference, marking a significant step in expanding its tokenization platform.

Stellar is a well-regarded open-source blockchain used for payments and remittances. In a press release, Paxos CEO and Co-Founder Charles Cascarilla stressed:

We are excited to partner with Stellar to make trustworthy stablecoins more accessible to global institutions. Stablecoins will revolutionize the global financial system and open access to people around the world. This collaboration will accelerate the adoption of stablecoins by users worldwide.

This partnership is expected to facilitate institutional adoption of stablecoins, which are issued by properly regulated institutions. As stablecoins gain traction, they are becoming crucial for enterprises and institutions looking to engage with more open and secure digital economies.

The collaboration with Stellar highlights Paxos’ commitment to ensuring its tokenized assets meet global financial regulations and enhance stablecoin accessibility.

Paxos CEO and Co-Founder Charles Cascarilla expressed excitement about the partnership, stating that stablecoins are poised to revolutionize the global financial system.

By making stablecoins more accessible through Stellar’s low-cost and high-speed infrastructure, Paxos aims to accelerate institutional adoption of digital dollars globally.

Stellar’s CEO, Denelle Dixon, emphasized the importance of Paxos as a regulated financial institution in advancing tokenized assets on the Stellar network, praising its ability to foster trust and credibility.

Paxos’ Regulatory Strength and Global Partnerships
With a strong focus on regulated offerings, Paxos supports global enterprises and institutions, including major partners like PayPal, Mastercard, and Nubank.

The company’s infrastructure enables these partners to tokenize, custody, and trade digital assets seamlessly, contributing to a more efficient global financial system.

By late 2024, Paxos plans to bring assets to the Stellar network, further strengthening its position in the digital economy. Paxos’ commitment to trust and transparency, along with its regulatory credentials, underscores its role as a leader in blockchain-based financial infrastructure.

@ Newshounds News™

Source:  Crypto News Flash   

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CHEVRON OVERTURN UNLIKELY TO IMPACT SEC'S CONDUCT — RIPPLE CLO

In 2023 alone, the Securities and Exchange Commission filed over 20 lawsuits against firms and individuals in the crypto industry.

Ripple’s chief legal officer, Stuart Alderoty, believes that the June 2024 overturn of Chevron USA Inc. vs. Natural Resources Defense Council by the United States Supreme Court will have little impact on the Securities and Exchange Commission’s (SEC) strategy of pursuing crypto compliance through enforcement.

In an interview with Cointelegraph’s Turner Wright, Alderoty stressed that only a leadership change would cause a shift in SEC posturing.

“I think under this leadership, the SEC has done tremendous institutional damage to what was once a very well-respected agency,” the Ripple CLO said.

Alderoty also stated that the SEC’s continued litigation against the crypto industry — including the recent appeal in the Ripple lawsuit — was deliberate and meant to create maximum confusion among industry participants:

"This SEC, under this leadership, I don't think they much care if they're right or wrong as a matter of law. I think their goal is through a massive wave of enforcement actions — and now on appeal — to keep a cloud of legal uncertainty over the industry."

“I think ultimately they will be proven wrong again. I don’t think they’re bothered by that,” Alderoty said, before characterizing the SEC’s aggressive stance toward the crypto sector as “Very disturbing.”

Loper Bright vs. Raimondo — overturning 40 years of precedent
The 40-year precedent set by the Chevron case in 1984 was overturned by the United States Supreme Court in the Loper Bright Enterprises v. Raimondo case on June 28, 2024.

The 1984 decision paved the way for courts to defer to regulatory agencies and their internal — often arbitrary — methods of policy enforcement.

For the nascent crypto industry, this meant that startups faced prohibitive regulatory demands from multiple government regulators that choked off innovation and discouraged investment, especially from institutional firms.

In July 2024, Uniswap Labs cited the Chevron overturn as an argument against the SEC’s proposed expansion of what legally qualifies as an “exchange” under the Exchange Act of 1934 — a regulatory change that would bring decentralized finance projects under the purview of the SEC.

@ Newshounds News™

Source:  CoinTelegraph 

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🌱 SILVER VS GOLD AND WHAT ABOUT COPPER? | Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Some “Iraq News” Posted by Clare at KTFA 10-17-2024

KTFA:

Clare:  BRICS currency.. Government advisor: A global monetary and financial system is about to be born

10/16/2024 Baghdad

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Wednesday, October 16, 2024, that a monetary and financial system for payments that enjoys international acceptance and credibility is “imminent.”

Saleh said in a press statement, regarding his expectations for the outcomes of the upcoming BRICS summit in Kazan, Russia, that “a monetary system and a payment system are imminent and will enjoy international acceptance and credibility.

” The new monetary situation must impose an official character in the arrangements of special drawing rights (ie the currency of the International Monetary Fund), meaning that the BRICS currency will have a high weight in the weights of global currencies under which the International Monetary Fund deals in terms of the stability of the exchange rate and the strength of the new international currency (the BRICS currency).”

He added: "The Kazan Summit must come out with an official announcement of the new international reserve currency called the BRICS currency, which will undoubtedly represent an economic force for nearly 40% of the world's population, and represent about 30% of the global GDP , especially since the five countries contribute significantly to the global economy, as they represent nearly 25% of the global GDP alone.”

He pointed out that "China and India are considered the main drivers of this growth, with their economic power increasing significantly in the past two decades and up until now, and without a doubt, half of global trade is controlled by the group."

Saleh added: “Thus, the BRICS group seeks to reshape the global economic system in line with its interests, and challenge the traditional dominance of Western countries in international economic institutions, especially by establishing its own financial institutions such as the New Development Bank.”

Russia holds the rotating presidency of the BRICS bloc this year, under the slogan “Strengthening multilateralism for equitable global development and security.”

Since assuming the presidency of the group, Russia has organized more than 200 political, economic and social events, and the main event will be the BRICS summit with the participation of a number of heads of state, which will be held in Kazan from October 22 to 24.

The BRICS group is a joint association of several countries that was created in 2006 by Brazil, Russia, India, and China, and later in 2011, South Africa joined it.

Since the beginning of 2024, Egypt, Ethiopia, Iran, the Emirates and Saudi Arabia have joined BRICS.LINK

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Al-Sudani announces recommendations to be approved by the Council of Ministers to restructure Rafidain Bank

10/17/2024

Prime Minister Mohammed Shia Al-Sudani chaired a meeting today, Thursday, on efforts related to developing the work of the government banking sector, in the presence of representatives of Ernst & Young for auditing and financial consulting.

A statement from the Prime Minister's Office, a copy of which was received by {Euphrates News}, stated that "during the meeting, a package of recommendations was presented by the company to proceed with the reform of Rafidain Bank, which included the new legal status of Rafidain Bank, its capital, its work strategy, and the new consultant who will work with the bank to meet the global requirements for modern banking.

These recommendations will be presented to the Ministerial Council for the Economy, which will then submit them to the Council of Ministers for approval."

He explained that "the issue of restructuring Rafidain Bank is the first step in the government's banking reforms, which have been given special attention to follow up on all reports related to it, submitted by the relevant authorities, especially the committee concerned with the restructuring process."

The Prime Minister stressed "the importance of the banking sector reform project, which began with Rafidain Bank, pointing out the work to provide a bank with specifications and standards through which problems can be overcome and confidence given to citizens, in addition to enhancing cooperation with local and foreign investors."   LINK

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Clare: Iraq Participates in GITEX 2024 to Enhance Cooperation in Technology and Cybersecurity

10/17/2024

 Chairman of the Communications and Media Commission Ali Almoayyed participated in the 44th edition of GITEX Global 2024, which was held at the Dubai World Trade Center under the slogan “Global Cooperation to Shape the Future Economy Based on Artificial Intelligence.”

His media office stated in a statement received by {Euphrates News}, that "this exhibition is considered one of the largest global events specialized in technology and emerging companies, as it attracts a large number of governments, investors, major companies and experts from various sectors." 

He added: “The event is a platform to enhance global cooperation between governments, companies and investors, in addition to supporting start-ups and promoting innovation in academia and research circles.”

This year, GITEX Global 2024 will feature more than 6,500 companies from over 180 countries, with a focus on showcasing investment opportunities in advanced technology, cybersecurity, data protection, and artificial intelligence technologies.

The exhibition contributes to enhancing international cooperation in modern technology, providing governments and start-ups with unprecedented investment opportunities in various vital sectors. LINK

Clare:  Kuwait urges Iraq to take concrete measures to address outstanding issues between the two countrie

10/17/2024

Kuwaiti Prime Minister Ahmed Abdullah Al-Ahmad Al-Sabah called on Iraq to take tangible measures to address all pending issues between the two countries.

In his speech at the Gulf-European summit in Brussels, Al-Sabah said, "At the forefront of these files is the demarcation of the maritime borders beyond point 162 in accordance with international laws and conventions, and the completion of the file of prisoners, missing persons and Kuwaiti properties, including the national archives within the scope of the follow-up of the United Nations and in particular the Security Council.

" Al-Sabah urged "Iraq to adhere to the bilateral agreements related to the security and technical aspects of the navigational passage in Khor Abdullah, which are agreements that would enhance the concept of environmental conservation, regulate navigation, and combat terrorism and the illegal trade in weapons, drugs and human beings," stressing "the importance of continuing the dialogue based on understanding and mutual respect between the two brotherly countries."

He pointed out that "based on the belief in the principle of good neighborliness, Kuwait was keen to help Iraq rise up through close work aimed at restoring its regional status and position in a way that achieves the hopes of its brotherly people."

On October 3, Foreign Minister Fuad Hussein announced the imminent resumption of Iraqi-Kuwaiti negotiations to resolve outstanding problems between the two countries, noting “Iraq’s true desire to reach understandings to resolve existing differences.”  LINK

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Clare:  Today.. The Kurdistan government announces a list of September salaries

10/17/2024   Erbil 

An informed government source confirmed that the Kurdistan Regional Government will announce, today, Thursday (October 17, 2024), a list of employee salaries for last September.

The source said in an interview with Baghdad Today, “The Ministry of Finance will announce in the coming hours a schedule of employee salaries worth 977 billion dinars, including the security forces, employees, retirees, and social care.”

He added, "The distribution schedule will continue for 3 days, and includes the disbursement of all ministries, starting with the Ministry of Health, then the Peshmerga, and the rest of the institutions in succession."

An informed source revealed, on Saturday (October 12, 2024), the date for disbursing salaries to employees in the Kurdistan Region for the month of September .

The source said in an interview with "Baghdad Today" that "there is a shortage in the amounts allocated for salaries that will arrive on Sunday from Baghdad to the account of the Ministry of Finance in the regional government."

He added, "The Kurdistan Ministry of Finance will issue a schedule of the salary list, and will most likely begin distribution next Tuesday, with distribution ending on Thursday, and continuing for three days, only two days before the Kurdistan Parliament elections."

He added, "The regional government will distribute September salaries a few days before the elections in response to internal pressures and also as an election propaganda ."

The Ministry of Finance in the Kurdistan Region announced last September that it had delivered the list of employees' salaries for the months of August and September, as requested by the Federal Ministry of Finance the last time, confirming that it was waiting to start sending the Salaries for the month of September to the region's employees, in conjunction with the start of the process of auditing the salary list .  LINK

MilitiaMan & Crew News Reporting - Iraq Dinar Updates

MilitiaMan & Crew News Reporting - Iraq Dinar Updates

MilitiaMan and Crew: 10-17-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=ELXnIAlX4xI

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 10-17-24

Good Afternoon Dinar Recaps,

STABLECOIN ADOPTION IN U.S. IS LOW: CHAINALYSIS REPORTS

According to a Chainalysis report, stablecoin adoption in the U.S. has slowed, with regulatory uncertainty driving more transactions to global markets.

Stablecoin adoption in the U.S. has slowed in 2024 compared to global markets, according to an October 17 report by blockchain analysis firm Chainalysis.

The report highlights that while stablecoin use has surged internationally, U.S. markets have seen a decline in their share of stablecoin transactions, dropping from roughly 50% in 2023 to below 40% in 2024.

Global Stablecoin Adoption Outpaces the U.S.
As per the report, this slowdown in adopting stablecoin in the U.S. is largely attributed to the lack of regulatory clarity.

Chainalysis noted that, in contrast to other regions, the U.S. has failed to make significant regulatory progress in the digital assets space, particularly stablecoins, contributing to a stagnation in adoption.

While the U.S. stablecoin market is experiencing a relative decline, global markets have witnessed increased adoption.

More transactions are now taking place on non-U.S.-regulated exchanges, reflecting a growing demand for stablecoins in emerging markets.

This surge is driven by stablecoins’ ability to offer a stable store of value in regions with volatile currencies and limited access to U.S. dollars.

Populations in these areas use stablecoins to access U.S. dollar stability without needing traditional banking systems.

U.S. Regulatory Uncertainty and Global Competition
Chainalysis also emphasized that regulatory uncertainty in the U.S. contributes substantially to the country’s slowdown in stablecoin adoption.

Unlike regions such as the European Union, United Arab Emirates, Singapore, and Hong Kong, which have enacted clear regulatory frameworks encouraging digital asset growth, the U.S. struggles to regulate stablecoins.

Additionally, the European Union’s Markets in Crypto-Assets Regulation (MiCA), implemented in June 2024, has provided much-needed clarity for stablecoins in Europe, attracting projects and fostering adoption.

Meanwhile, Circle warns that without clear guidance, the U.S. could forfeit its influence in the stablecoin market and lose its leadership in dollar-based on-chain commerce.

While the U.S. lags in regulatory progress, there have been steps toward developing a stablecoin framework.

In July 2023, the House Financial Services Committee advanced a stablecoin bill aimed at providing regulatory clarity.

Circle remains optimistic, hoping that Congress will pass the bill to establish clear anti-money laundering (AML) and sanctions obligations for stablecoin issuers, ensuring the U.S. retains its role in the global stablecoin market.

@ Newshounds News™

Source:  CryptoNews

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RIPPLE NEWS: CEO BRAD GARLINGHOUSE CONSIDERS IPO PATH, SAYS ‘SEC IS NOT OUR FRIEND’

At the recent Swell conference, Ripple CEO Brad Garlinghouse addressed the possibility of the company going public. When asked about a potential IPO in light of regulatory clarity expected next year, he clarified, “An IPO has not been a high priority for us. Part of that is because the SEC is not our friend.”

In an interview with Thinking Crypto, he said that most companies seek to go public primarily to raise capital. In contrast, Ripple has maintained a strong financial position, allowing it to invest in various projects and make acquisitions without the immediate need for public funding. “We have a hostile SEC and a company that doesn’t need to raise capital,” he said, explaining why an IPO is not at the forefront of Ripple’s agenda.

Garlinghouse did acknowledge the importance of ensuring liquidity for shareholders and maintaining appropriate company valuation. However, he reiterated that prioritizing an IPO is not urgent, especially given the time-consuming process it entails. “Even when I think about it, usually when a company says they’re going public, it still takes twelve plus months,” he said, adding that regulatory conditions must improve first.

The Crypto Market Outlook for 2025
When discussing the broader crypto market as it heads into 2025, Garlinghouse expressed positivity despite the challenges the industry has faced.

Garlinghouse pointed out that the U.S. government’s previously hostile stance towards crypto is beginning to shift, especially with major players like BlackRock entering the space. He explained the importance of this development, as it indicates increasing institutional interest in blockchain technology and its potential applications.

While acknowledging the difficulty of making accurate predictions about crypto prices, Garlinghouse remains optimistic about the next year or two, suggesting that positive changes may occur sooner rather than later.

@ Newshounds News™

Read more:  CoinPedia

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🌍 Q: Can I sell my Zim for money today? Can I gift Currency? DYOR | Youtube

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Source:  Seeds of Wisdom Team RV Currency Facts

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Economist’s “News and Views” 10-17-2024

We've Destroyed the US Dollar and Time is Running Out to Save it: Art Laffer

Daniela Cambone:  10-17-2024

In this conversation with Daniela Cambone, Dr. Arthur Laffer discusses various aspects of the economy, focusing on the implications of debt, trade policies, the future of the US dollar, monetary policy, and the impact on the middle class.

He emphasizes that debt is a tool that can be used effectively if managed properly, critiques current trade policies, and argues for the importance of a stable dollar and sound monetary policy.

Laffer also highlights the need for a flat tax system and discusses the challenges facing the middle class in today's economic environment.

CHAPTERS:

00:00 Debt is a tool, not the problem.

5:13 Trump’s tariffs plan

10:05 De-dollarization

 13:17 The strength of U.S. dollar

14:39 Threats that the U.S. dollar is facing

15:34 Return to the gold standard

 17:00 What should Powell be doing?

19:45 Lift the American middle class

21:34 U.S. debt

 41:10 Illegal immigration and border security

43:47 Final takeaways

https://www.youtube.com/watch?v=v7h4fvVtRAY

ALERT! THE WORLD ECONOMY IS FREEFALLING FASTER AND DEBT SATURATION IS MAKING IT WORSE.

Greg Mannarino:  10-17-2024

https://www.youtube.com/watch?v=jJykWabDYp4

Citigroup Sounds The Alarm On TOTAL Economic Collapse, Chase Bank Warning

Atlantis Report:  10-17-2024

As we end 2024, the ominous tune of a banking collapse looms large over the once-mighty Citigroup.

From its inception in the late 20th century, where it pioneered modern banking services, automatic teller machines, and credit card offerings, Citigroup has witnessed a relentless downward spiral since the housing crisis and financial meltdown of 2008.

Now, a collapse is nearer than ever before. Citigroup, one of the world's leading banks, has made a shocking announcement about the looming threat of a complete economic collapse.

 This alarming forecast comes amidst growing concerns over the state of the labor market, which has shown signs of deterioration that could have far-reaching consequences for the nation's economic stability. The warning has prompted governments, corporations, and individuals to prepare for an unprecedented economic calamity.

Before 2007, Citigroup stood prominently among the elite financial institutions in the United States, consistently delivering robust returns to its steadfast shareholders through both appreciating share prices and generous dividends.

 However, the culmination of the housing boom and the subsequent financial crisis pushed Citigroup to the brink, necessitating government intervention to navigate the resulting losses. Subsequently, Citigroup's stock struggled to regain its pre-crisis momentum, failing to recover from the setbacks of 2008.

Chase Bank and Citigroup have raised red flags, signaling a deep-seated issue within the banking sector. Nine percent of all bank branches in the U.S. have shut down since 2017. Earlier in the month, Citigroup informed the majority of its employees that they could work remotely for the final two weeks of December.

Workers are allowed to log in remotely from any location within their country of employment from Monday to December 29, a Friday, marking this week as the last in-person experience for many staff members this year, according to sources familiar with the situation.

 In contrast to last year when the perk was introduced, employees are now apprehensive about CEO Jane Fraser's comprehensive corporate reorganization, with some expressing concerns about the potential existence of their jobs next year. Citigroup has indicated that Fraser's assessment of the third-largest U.S. bank by assets will be concluded by the end of 2024.

https://www.youtube.com/watch?v=FI5Dw6Ya8KM

Iraq News Highlights and Points To Ponder Thursday AM 10-17-24

They Brought In About 4 Billion Dollars.. Iran Receives More Than 4 Million Tourists, Led By Iraq, In Six Months

Wednesday,10-16-2024 Taisir Al-Asadi  The Iranian Ministry of Tourism revealed today, Wednesday, that Iraq topped the list of tourists arriving in Iran during the first half of this year.

Deputy Minister of Tourism, Ali Asghar Shalbavian, said, "Iran received more than 4 million and 168 thousand tourists in the last six months, bringing in about 4 billion dollars."

He added, "Most of the tourists entering Iran are from Iraq, Afghanistan, Turkey, Pakistan, Azerbaijan, Armenia, India, the Gulf states, China and Russia, respectively." https://non14.net/public/171135

Parliamentary Committee Talks About Economic Reform Law: It Reached Parliament Months Ago

Policy  2024-10-17 | 172 views   Sumerian News – Politics  Expected Committee Economy, Industry and Trade Parliamentary Committee, voting on the economic reform law during the next few days.

He said Deputy Committee Chairman Yasser Al-Husseini said, “The law reached the Council months ago. ”Representatives In general and to Committee The economy in particular, and it includes all laws that include the economic aspect,” according to the newspaper. the morning Official.

He added, "The committee held many workshops at all levels, whether for businessmen or industrial and economic experts," stressing that "the committee is proceeding with reading this."the lawAnd work on voting on it during the next stage in cooperation withCommitteesOther specialists.”

Al-Hussaini pointed out that “there are observations, whether fromRepresentativesOr by experts, and it will be included in a paper prepared alongside the law,” noting that “the committee is determined to vote on it with the available capabilities for what it deems important in this.”the lawWhich can bring about a major reform in the country's economic reality."

He also stressed "the importance of the Industrial Investment Law for the public and private sectors, to accurately diagnose this partnership," indicating that "the contracts concluded in accordance with thisthe law“It will be beneficial and profitable for both parties, unlike some contracts that have more negatives than positives in the industrial sector, which oblige the state to long-term, impossible conditions.”

He continued, “The committee is proceeding with voting on the industrial investment law, which is no less important than other laws, despite some objections that have prevented voting on it so far,” stressing that “the final stage of voting has been reached after consensus was reached between the political blocs objecting to its wording.”  LINK

Kurdistan Finance Deposits More Than 77 Billion In Non-Oil Revenues Into Baghdad Treasury

Local | 10/16/2024   Mawazine News - Baghdad   The Ministry of Finance and Economy in the Kurdistan Regional Government announced today, Wednesday, the transfer of more than 77 billion dinars to the federal treasury from the region's non-oil revenues.

The ministry indicated in a statement received by "Mawazine News", that "an amount of 77 billion, 841 million, and 761 thousand dinars was transferred to the bank account of the Federal Ministry of Finance at the Central Bank of Iraq / Erbil branch."

It continued, "This amount represents the share of the general federal treasury from the non-oil revenues of the Kurdistan Region of Iraq for the month of June." https://www.mawazin.net/Details.aspx?jimare=256012

The Trial Period For Raising The Prices Of Improved Gasoline Has Ended, And The Amount Of Revenues Is “Absent”

2024-10-17 By Sotaliraq  The Iraqi government seems to be hesitant about the public outrage if it reveals the results of raising the prices of “improved gasoline,” especially since the pilot plan ended more than a month ago, which indicates that there are “hidden obstacles” behind the issue, according to observers.

On March 26, 2024, the Council of Ministers voted in a session chaired by Mohammed Shia al-Sudani to increase the price of improved gasoline from 650 dinars per liter to 850 dinars per liter, and premium gasoline from 1,000 dinars to 1,250 dinars per liter, starting from May 1 for a period of 3 months, after which the situation will be re-evaluated.

According to expert estimates, Iraq lost approximately 3 trillion Iraqi dinars on importing improved gasoline (which is the value of government support for improved gasoline) during 2023, stressing that these numbers have been the same for years.

The government has not yet received the evidence,

and Iraqis have strongly criticized the decision to increase fuel prices, considering that this step “is sufficient to raise the prices of all materials in the markets.”

Speaking of numbers, the Oil Products Distribution Company said (July 16, 2024) that it sold about 977 million liters of gasoline (improved, regular, and super) during the month of June of this year, without disclosing the financial returns from these numbers.

In this regard, economic expert Nabil Jabbar Al-Tamimi believes that “Iraq’s imports of petroleum derivatives have increased over the past four years, as a result of the increase in consumption and the growing demand for fuel (high-octane improved) that local refineries do not provide.”

Al-Tamimi says that “annual fuel imports have reached about $3 billion, which is a large number and unreasonable for a country considered one of the largest oil producers to import gasoline at these numbers.”

The latest government move came months ago, according to Al-Tamimi, as a bold step to raise the prices of some petroleum derivatives by 20-30%, stressing that “this step was accompanied by the government’s opening of the Karbala refinery, and also the return of production lines in the Baiji refinery.”

This year, the Iraqi government reopened the northern refinery in Baiji in Salah al-Din Governorate after rehabilitating it, following its closure for more than 10 years. It also announced at the end of last year the opening of the Karbala oil refinery with a production capacity of 140,000 barrels per day, including “improved gasoline.”

Al-Tamimi added, “These refineries were able to cover a large percentage of imports, which amounted to 15 million liters per day,” adding, “Such a step may contribute at the end of the year to saving large amounts of money that go to imports, provided that the government makes reforms to the laws of public companies, including oil refining and distribution companies, to increase the treasury’s share of these revenues that came as a result of government steps to establish new refineries and open production lines, in addition to setting a new price for oil derivatives.”

A few days ago, the Ministry of Oil issued a new statement about “improved gasoline,” confirming that Iraq will achieve self-sufficiency in improved gasoline next year, while confirming that it has achieved self-sufficiency in gas oil and kerosene products.

The decision to raise gasoline prices will continue for a long time.

According to Nabil Al-Marsoumi, an economics professor in Basra, the cost of importing improved gasoline in 2022 is 1,700 dinars per liter, while the cost of importing regular gasoline is 900 dinars per liter, indicating that the state is losing money on all types of gasoline.

In contrast, Mustafa Hantoush, an economic researcher, says, “The government is currently unable to restore the price of improved gasoline to what it was before, except after exports stabilize at the new Baiji and Karbala refineries.”

According to Hantoush, Iraq is still heavily dependent on importing improved gasoline, as local production cannot meet the large and growing need in the Iraqi market.

Hantoush continues, saying, “The Iraqi citizen is the one most affected by the decision, given that raising the price of fuel always leads to raising the prices of all food and non-food items in the markets in general.”

Regarding the possibility of raising prices again, Hantoush expects that “the government is not currently considering such a step,” stressing that “the current prices of both improved and regular gasoline will remain like this for a long time.”

According to readings by economic experts, the government has been providing support of up to 20% of the value of improved and super gasoline over the past years, which has placed a burden on the financial budget.

Iraq consumes between 27 million and 31 million liters of gasoline per day, while production is about 50% of the market's need, according to experts.

Iraq has also imported gasoline and gas since 2003 until now at a cost of about 70 billion US dollars, and it also imported 26 million liters of gas oil per month. LINK

Iraq's 2025 budget returns to the forefront, so what are the demands?

In video  2024-10-17 | 2025 budget... demands to prepare a realistic formula for next year's budget tables.  About the general budget tables for the year 2025, amid demands for the necessity of preparing them realistically, with the possibility of investing the surplus in preparing the next year’s budget to create economic comfort.   Follow this full report on Alsumaria!  LINK

Petroleum Products: The Percentage Of Imports Of Derivatives Decreased To 50 Percent

10/16/2024  Mawazine News - Economy   The Oil Products Distribution Company confirmed on Wednesday that the government's plans have contributed to reducing the percentage of oil derivatives imports to 50%, indicating the date for ending the import file completely.

The Director General of the Oil Products Distribution Company, Hussein Talib, said: "The state was spending approximately $4.5 billion annually on importing products such as gasoline, gas oil and kerosene, and this spending is gradually decreasing with the continuation of projects aimed at achieving self-sufficiency."

He added: "Last year witnessed intensive follow-up to complete the stalled projects in the Ministry of Oil within the ministry's policy and the government program of the current government, as the ministry has set a program within a time plan to complete these projects."

He pointed out that "the most important project completed at the end of 2023 is the Karbala Refinery Project, which is considered a major source of local products, as it refines approximately 140,000 barrels of crude oil per day, with products that conform to global marketing specifications, including Super 95 octane gasoline, gas oil, kerosene and all other products."

He continued: "Operating the Karbala refinery and completing the refining projects in the northern region has reduced the import of petroleum derivatives, and ended the import of gas oil and kerosene, and reduced the import of improved gasoline from 15 million liters to 7 million liters per day, or 50%."

He stressed that "the Ministry of Oil is working to completely end the import of petroleum derivatives by 2025."   https://www.mawazin.net/Details.aspx?jimare=256029

Seeds of Wisdom RV and Economic Updates Thursday Morning 10-17-24

Good Morning Dinar Recaps,

Brazil Pushes BRICS to Shift From US Dollar, Advocating National Currencies in Global Trade

Brazil pushes for a shift away from the U.S. dollar within the BRICS alliance, advocating for more use of national currencies in trade among member countries.

As the group expands, discussions on alternative payment platforms are gaining momentum ahead of the BRICS summit in Kazan. Brazil aims to advance this initiative during its 2025 chairmanship, reflecting growing momentum among member states.

Brazil Advocates for National Currencies in BRICS Trade
Brazil’s Foreign Affairs Secretary for Asia and the Pacific, Eduardo Paes Saboia, stated on Tuesday that Brazil is advocating for a greater use of national currencies among BRICS member countries in global trade, aiming to reduce reliance on the U.S. dollar. 

Originally established in 2006 by Brazil, Russia, India, and China, the BRICS group was later joined by South Africa in 2011. In 2024, BRICS expanded further with the inclusion of Egypt, Iran, the United Arab Emirates (UAE), Saudi Arabia, and Ethiopia as full members.

Speaking to reporters, Saboia noted that discussions about this shift are already underway, stating that the issue of reducing the reliance on the U.S. dollar “has already been considered at meetings of finance ministers and heads of central banks” of the BRICS nations. Expressing optimism about the upcoming BRICS summit in Kazan, he was quoted by Tass publication as stating:

I hope that those discussions will be reflected in a certain way in the declaration in Kazan.

Saboia also confirmed that Brazil would continue pushing for an increased share of national currencies in trade among BRICS members during its chairmanship in 2025.

This initiative aligns with comments made by Russian Foreign Minister Sergey Lavrov in September, who mentioned that a report on alternative payment platforms for BRICS nations would be prepared for the Kazan summit. Lavrov said the report would explore “options for creating alternative payment platforms for settlements between BRICS member countries.”

Additionally, Dilma Rousseff, the president of the BRICS New Development Bank, revealed in October that the financial institution intends to “use national currencies for investing in the private sector of the economies of member states.” The Kazan summit will be a key event during Russia’s chairmanship of the organization, which has planned over 200 events this year.

@ Newshounds News™

Source:  Bitcoin News 

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STELLAR ECOSYSTEM IMPLEMENTS BLOCKAID SECURITY FEATURES

Stellar’s Lobstr and Freighter Wallets are the first to receive the new Blockaid security features

Blockchain security firm Blockaid announced the integration of its advanced Onchain Detection and Response (ODR) technology on the Stellar blockchain, starting with the Lobstr and Freighter wallet applications.

According to an Oct. 17 announcement viewed by Cointelegraph, the strategic partnership will bring real-time threat monitoring and rapid response capabilities to the wallets, with further integrations planned.

Blockaid’s Web3 services
Blockaid describes its services as being somewhat like an antivirus software for Web3 decentralized applications.

Ido Ben Natan, CEO of Blockaid, told Cointelegraph that the first wave of enhancements “alerts users whenever they interact with a dangerous transaction, DApp, or token.” He added that “by flagging malicious interactions, we’re protecting millions of users from scams and hacks.”

According to the company’s announcement:

“Blockaid’s Web3 security technology, trusted by Coinbase, Stellar, and Metamask, has scanned over 4.5 billion transactions, prevented more than 100 million attacks, and defended against potential losses exceeding $4 billion.”

In just the first half of 2024 alone, Blockaid inked deals with a number of blockchain firms in the industry including a Coinbase Wallet integration in March, and partnerships with 1inch and Avalanche Core Wallet in June.

Stellar
Stellar bills itself as a decentralized open-source blockchain platform for decentralized finance (DeFi), assets, and payments. Its primary token, XLM, has a market capitalization of $2.8 billion as of Oct. 16.

It’s purported to be faster and more efficient than more popular blockchain platforms such as Bitcoin thanks to its Federated Byzantine Agreement (FBA) algorithm, which handles consensus through a streamlined protocol.

As Cointelegraph reported in August, France-based fintech company Next Generation and Ireland-based electronic money institution (EMI) Decta announced a plan to reintroduce a euro-pegged stablecoin, EURT, on the Stellar blockchain.

The launch of EURT signifies a period of perceived relief from regulatory uncertainty for cryptocurrency and blockchain firms operating in the European Union. By all accounts, the stablecoin market appears to be surging under the Markets in Crypto-Assets (MiCA) regulation and increasing legal clarity.

@ Newshounds News™

Source:  CoinTelegraph 

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AUDIO REPLAY BOB LOCK: OCT 16, 2024 | Youtube

Bob Lock discusses his new book, "Managing sudden wealth through smart team building" as well as what the future might bring with a new financial system and ways to protect yourself with a possible stock market crash and/or bank failure.

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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🌍 Navigating Financial Uncertainty: Protect Your 401(k) and Assets!  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Q & A Classroom Link  

Follow the Roadmap

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Subscribe to Newsletter

Thank you Dinar Recaps

“Tidbits From TNT” Thursday Morning 10-17-2024

TNT:

Tishwash:  Washington: We support Iraq’s economic reform agenda, updating the budget and enhancing transparency 

The United States affirmed, today, Thursday, its commitment to supporting the economic reform agenda in Iraq, including updating the budget and enhancing transparency.

“I was pleased to meet with Finance Minister Taif Sami Mohammed,” said US Ambassador to Baghdad Alina Romanowski. “Economic diplomacy is a fundamental pillar of the comprehensive US-Iraq partnership.”

She added, "The US government is committed to supporting Iraq's economic reform agenda, including updating the budget and enhancing transparency."   link

Tishwash:  Al-Sudani: The government has regained the confidence of citizens

“There is no stopping in implementing projects and following up on them everywhere, and local governments are the second arm of the state after the ministries.” This is the approach that Prime Minister Mohammed Shia al-Sudani relied on, who confirmed that the important achievement that was made is that his government was able to restore the confidence of citizens, especially in the service aspect, pledging to continue this.

The Prime Minister visited Diyala Governorate yesterday, Wednesday, and opened the (Baghdad-Khalis Road) with a length of (60) km, round trip, and several other projects, while he announced a package of new projects.

Al-Sudani said during the visit: "Diyala represents a miniature Iraq with its national diversity and has made many sacrifices, and it is shameful to talk about infrastructure in the year (2024)." He explained that "following up on important projects through field visits to the governorates is an approach followed to determine the implementation rates and the most important problems and obstacles," stressing "the commitment to the principle of working in the spirit of one team between the federal government and local governments, which are the second executive arm of the government after the ministries."

The Prime Minister stressed that "the government has regained citizens' confidence, which is an important achievement that must continue, especially in the service sector," noting that "infrastructure projects are a priority for the government, and it is imperative to complete them, especially the stalled ones." He also announced "the formation of a committee that will begin its work next week to follow up on the outcomes of his visit to Diyala Governorate, and submit recommendations related to it to the Council of Ministers."

Al-Sudani directed the necessity of completing major service projects within their specified timeframes, appreciating the role of all workers in these projects that the government has placed among the priorities of its government program.   link

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Tishwash:  ILO: Iraqi government has developed programmes to help facilitate transition to formal economy

The International Labor Organization confirmed on Wednesday that the current government has developed programs and policies that help facilitate the transition to the formal economy, while indicating that informal work represents a crucial component despite its problems in economic activity.

The International Labor Organization's country coordinator, Maha Kattaa, said at the national conference on informal work and paths towards decent work in Iraq, which was followed by "Al-Eqtisad News", that "this conference addresses a very important and urgent issue, which is the issue of the informal economy and informal work," noting that "the informal economy refers to the group of economic activities carried out by workers and economic units that are not covered either in law or in practice by formal arrangements or may be covered sufficiently."

“Informal or irregular work is a complex, multifaceted phenomenon that includes a variety of activities, transactions and individuals who work outside formal businesses but sometimes also work within formal businesses,” she added, noting that “informal work represents a crucial but somewhat problematic component of economic activity while the informal sector can be a mechanism for addressing and alleviating poverty.”

She explained that "most of the poor work in the informal sector, so we should not look at this sector as unfair, but also as a sector that absorbs the poor and attracts individuals with low skills and low educational attainment. Therefore, the issue of looking at this sector is very important because it absorbs this number of workers."

The sector explained that "the problem lies in crises and shocks when they occur in any country, including the recent crisis with Corona. Those who were affected more than the workers are the workers in the informal sector because there was no mechanism to reach these workers. On the contrary, the workers who work in the organized sector have records that show where these workers are located."

She continued: “It was difficult to provide some services to workers in the informal sector, so we sometimes call them invisible workers, because it is really difficult to reach them, in addition to companies and institutions that operate in an informal manner, even in crises, there is a difficulty in how to reach these companies to help them in most countries, and during the Corona crisis, aid packages were provided to companies, but we did not reach companies and institutions if they were not regular.”

She pointed out that "informal work is not limited to Iraq, it exists all over the world, but the percentage of informal work or informal economy varies from one country to another," indicating that "the International Labor Organization adopted in 2015 a recommendation called the recommendation for the transition from the informal economy to the formal economy, and recommendation number 204 approved guiding policies for all countries that wish to complete the transition process to help them in this process."

She pointed out that "there can be flexibility to absorb shocks while enhancing the creation of decent job opportunities, and we must look at the Iraqi economy with the structure of the economy that relies heavily on oil and contributes significantly to exports, and that more than 90% of exports in Iraq come from oil, and the revenues that come from oil are what contribute to the government budget and also to the gross domestic product," noting that "the oil sector does not employ large numbers, so we notice that the gross domestic product comes from the resource, and the labor comes from another source."

She stated that "small, medium and large companies play a role in creating job opportunities in the construction, services and manufacturing sectors, which create job opportunities in Iraq," explaining that "women work more in the informal sector in most countries of the world, while in our Arab region, men work more in the informal sector for several reasons, the most important of which is that women in our Arab region and also in Iraq prefer to work either in the public sector or in the organized private sector, as job opportunities in the informal sector do not attract women. This issue is attributed to the advantages offered by the informal private sector, because it is an unprotected sector that does not provide decent job opportunities or social security. There is no protection for workers, so women are reluctant to enter the labor market, especially in the sectors."

“We commend the current government for taking major measures and procedures to facilitate the transition through new legislation, including the Social Security Law and the amendment of the Labor Law in 2015, all of which helped move forward with the transition process,” she added, “There are current material policies, plans and programs being implemented by the government, including the recently launched National Development Plan, work to update the private sector development strategy, the policy of regulating small projects and developing small and medium enterprises, and others. All of these programs and policies will also help facilitate the transition process.”  link

Mot.. As More and More Seasoned I Become 

Mot: Wise old Earl