Seeds of Wisdom RV and Economic Updates Saturday Afternoon 11-9-24

Good Afternoon Dinar Recaps,

TETHER COMPLETES FIRST MIDDLE EAST CRUDE OIL TRANSACTION

Tether has finalized its first funding transaction in a Middle East crude oil investment, expanding the crypto company’s ventures beyond its flagship digital assets product.

The investment involves a major publicly traded oil company and a leading commodity trader, aiming to facilitate the loading and transportation of over 670,000 barrels of crude oil.

According to the announcement on Nov. 8, the Tether stablecoin issuer’s investment arm completed the transaction in October 2024. The total value of the Middle Eastern crude oil is approximately $45 million, marking Tether’s initial entry into the crude oil business in the region.

It also highlights the crypto company’s growing traction in commodities trading across the world.

“This transaction marks the beginning, as we look to support a broader range of commodities and industries, fostering greater inclusivity and innovation in global finance,” said Paolo Ardoino, chief executive officer of Tether.

Tether’s Trade Finance unit, which launched earlier this year, has experienced significant growth as the company targets opportunities in the $10 trillion trade finance market.

Notably, while this new venture is part of Tether Investments’ broader portfolio, it is not connected to the platform’s USDT stablecoin reserves.

Tether stated that this investment is part of its expansion strategy, which also includes involvement in artificial intelligence, education, renewable energy, Bitcoin mining, and telecommunications.

The company recently revealed it hit $7.7 billion in nine-month profits for 2024, with the third quarter attestation report also highlighting over $102 billion in U.S. Treasury holdings.

While the USDT circulation reached nearly $120 billion in the quarter, Tether said it held over $6 billion in extra reserves.

@ Newshounds News™

Source:  Crypto News

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AUSTRALIA TO TRIAL WHOLESALE CBDC FOR ASSET TOKENIZATION IN 2025. INVITES PARTICIPANTS

The Reserve Bank of Australia (RBA) has launched a consultation on wholesale CBDC and asset tokenization with the Digital Finance Cooperative Research Centre (DFCRC), with a deadline for responses of December 11.

It is inviting industry members to provide feedback and take part in trials for wholesale tokenization use cases in 2025 as part of Project Acacia. They may also want to join the industry advisory group.

Apart from a wholesale CBDC, Project Acacia will explore the use of private forms of digital money, including tokenized deposits.

Previous RBA and DFCRC CBDC experiments covered both wholesale and retail CBDC where the CBDC was issued on a central bank controlled infrastructure. In the latest trials, the central bank will consider issuing a pilot wCBDC onto third party blockchain networks, in a similar manner to Switzerland’s Project Helvetia.

RBA assistant Governor Brad Jones said the aim is to “examine how innovation in wholesale markets could be enabled by new forms of digital money and supporting infrastructure.

The role that tokenised asset markets could play in improving the efficiency and resilience of wholesale payments and settlements, and in enhancing cross-border payments, are areas of particular interest.”

However, the current phase of Project Acacia will focus on domestic wholesale settlement.

Settlement options with digital money
The two organizations have already completed the first phase of Project Acacia, which involved desktop research regarding different settlement options.

It considered five different forms of settlement assets, including:

▪️existing central bank money (Exchange Settlement Accounts or ESAs)
▪️wholesale CBDC (wCBDC)
▪️deposit tokens
▪️reserve-backed digital currency (RBDC)
▪️fiat-backed stablecoins.

Deposit tokens are tokenized versions of commercial bank money. RBDC is tokenized money backed by a pooled or omnibus central bank account (similar to Fnality).

A key feature of tokenized deposits is they involve two steps because the seller (recipient) may not bank at the same bank as the buyer (payer). Hence, there’s a transfer of the bank token from buyer to seller and then the two banks need to settle up with each other. The RBA referred to this settling up process as the interchange mechanism.

Hence, in reviewing settlement options it considered whether the settlement asset is on the same platform or not, the different types of settlement assets, and the interchange mechanism. If the settlement asset is on a separate platform there’s a need for synchronization to ensure the transaction status on the tokenized money DLT matches the tokenized asset platform.

This synchronization without a wCBDC is similar to the European Central Bank wholesale DLT experiments with Germany’s Trigger solution and Italy’s TIPS Hashlink offering. The RBA gave the nod to the Bank of England’s ‘synchronisation’ capability as part of its RTGS renewal program.

Five potential settlement models were selected from the research, involving tokenized deposits and / or wCBDC. Stablecoins are not included. There is no intention to select just one model, because the RBA and DFCRC believe different models will be suitable for different markets.

Digital currency and wCBDC trade offs
The research highlighted some of the tradeoffs with different models. For example, if a wCBDC is issued onto a third party platform, it can support atomic settlement and composability, which could offer economic benefits such as efficiencies, risk reduction and new business models.

However, that would require the central bank to change its role to just being the issuer, reducing its ability to manage and monitor balances.

Alternatively, using existing central bank reserves for settlement would involve more incremental changes for both the central bank and market participants. However, it would forego some of the economic benefits of atomic settlement and composability. The central bank is keen to understand these tradeoffs in greater detail.

Meanwhile, Project Acacia will also involve three other agencies, the Australian Securities and Investments Commission (ASIC), the Australian Prudential Regulation Authority (APRA) and the Treasury. The project may trigger potential regulatory changes which could be tests as part of ASIC’s sandbox framework.

@ Newshounds News™

Source: Ledger Insights 

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🌱WHAT DO THE NEW CHANGES MEAN? DID YA CATCH THE INTEL? EXCITING GOOD FACTS.  |  Youtube

Did you miss the Live Constitution call last night with Mason and Jim?  Here is the Replay with many questions and comments from our members.  Listen and share.

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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“Tidbits From TNT” Saturday 11-9-2024

TNT:

Tishwash:  Finance: Next week, applications for purchasing government bonds will end

The Public Debt Department of the Ministry of Finance announced that the application period for purchasing government achievement bonds (third issue) is approaching the end of the official working day on Wednesday, 11/13/2024.

The department called on citizens, businessmen and companies to seize this investment opportunity with rewarding returns  link

Tishwash:  Halal” shares without interest start at $100.. The first company to enter Mosul (video)

And receive profits via Zain Cash and FIB

Cultural Group (Mosul)

“Planet of Profit” company manager Harem Ribwar says that it is the first officially registered company to enter Mosul and provide training services for those wishing to trade stocks on global stock exchanges, in addition to providing brokerage services. Ribwar talks about two types of subscriptions, the first starting at $100 for beginners, and the second at $50,000 for professionals, with “completely Islamic and interest-free” services.

The company opened its branch in Mosul in the Cultural Group area on the left side, and works on mediation between the investor and the stock exchange. Today, it has 5 other branches in Kirkuk, Diyala, Erbil, Dohuk, and Sulaymaniyah before opening the sixth branch in Nineveh, while it plans to reach Baghdad and Basra.

Harem Ribwar - Director of Kawkab Al-Rabh Company in Iraq:

Our company is a broker in the financial markets and is licensed by the Central Bank of Iraq and the Ministry of Trade, where it works as a shareholder with the global company ax finanials limited, registered in Wales.

Our main business is to mediate between clients or investors and global markets, we are the first company to bring electronic trading technology to Iraq, and one of our goals in the country is to change investment to a new and correct path.

We are the first official company to enter Nineveh, and we want to contribute to rebuilding Umm Al-Rabi’een and contribute to employing workers.

We have an academy for teaching trading, and we will hold workshops and training in this field for those who wish, and we will bring the best trainers in the field of trading in the financial markets.

We have a “standard” deposit of at least $100, and a “premium” deposit of at least $50,000. All our accounts are Islamic, meaning they are free of interest, and we take the commission from the bank, not the investor.

We established the company last April and opened the first branch in Kirkuk, the second branch in Erbil, then Diyala and Dohuk, and soon in Najaf, Basra, and Baghdad.

The Nineveh branch staff consists of 10 people with scientific specializations, graduates of management and economics, and software engineers. We grant agencies to our employees or investors, through which they can bring customers and take their commission on each customer, which is 50% of the profits.

We have deposits and withdrawals, which are done at our branches, and delivery and receipt are done through Zain Cash and the Iraqi Digital Bank FIB.  link

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Prime Minister: We adhered to the goal of completing the Greater Faw as the gateway to greater Iraq

Prime Minister Mohammed Shia Al-Sudani sponsored, today, Thursday, the ceremony of receiving the five berths of the Grand Faw Port in Basra Governorate, and their entry into actual operation, after they were completed by the implementing Korean company.

Al-Sudani stressed in a statement issued by his media office that the five docks represent the backbone of the Faw Port, while pointing out that the development road will be an artery linking most of the countries in the region.

He explained that “this project has actually entered into the knots and paths of global trade and transport routes, which pass through the Middle East region, which has great strategic importance for global trade. It is considered the most prominent water basin in the world, where energy, trade, communication and exchange activities are concentrated in all their forms. It will also contribute to transforming Iraq from a country in need of other people’s ports, into a maritime country with a complete view of the Gulf.”

He added that “development and economic transformation are an integrated approach that meets the country’s needs and the vital economic levers it lacks for Iraq to connect with international trade,” noting that “Iraq was and still is a fundamental pillar in the global economy and a historical part and passage of the most important international exchange routes,” noting that “the development path will link, starting from the Grand Faw Port, the economies of most countries in the region and will be an outlet for achieving economic integration.”

He added that "the Council of Ministers supported the Ministry of Transport's procedures to rehabilitate railways on the development road tracks, or those that serve the road within a plan connected in its links," indicating that "new railway projects were included in the investment plan and financial allocations were allocated for them."

He said, “We adhered to the goal of completing the project, as it is a gateway to Iraq’s largest project, the path to development, and the main nerve in the government’s vision to maximize non-oil revenues, along with the industrial cities that will be established alongside the two projects.”

Al-Sudani added, “The General Company for Iraqi Ports has made significant progress in drawing up the correct policy for managing the Grand Faw Port, in addition to introducing major operators in the world, and the most appropriate and attractive economic model for trade exchange will be chosen.”  link 

Mot: . LOL -- Me too!!! 

Mot:  ....... This is not going to end well. 

Seeds of Wisdom RV and Economic Updates Saturday Morning 11-9-24

Good Morning Dinar Recaps,

SWISS BANK UBS TESTS BLOCKCHAIN FOR CROSS-BORDER PAYMENTS WITH DIGITAL CASH

UBS has successfully piloted its blockchain-based payment system to enhance the efficiency of cross-border transactions.

Multinational investment giant UBS has completed a pilot of its blockchain-based payment system dubbed “UBS Digital Cash,” aimed at improving the efficiency of cross-border transactions.

In a Nov. 7 press release, the Zurich-headquartered bank said the trial, which involved multinational clients and banks, included both domestic payments within Switzerland and cross-border transactions in U.S. dollars, Swiss francs, euros, and Chinese yuan.

The system uses a private blockchain network called “UBD Digital Cash,” accessible only to permissioned clients, with transactions settled through smart contracts that automatically execute once predefined conditions are met.

“Blockchain-based payment solutions for cross-border payments are a strategic focus for UBS.”  ~  Andy Kollegger, head of UBS Institutional & Multinational Banking

Commenting on the milestone, Xiaonan Zou, UBS head digital assets says the bank considers the interoperability between UBS Digital Cash and other digital cash initiatives as “key for the financial industry.” 

The latest initiative complements UBS’s involvement in a wide range of market initiatives, the bank says, referring to the Swiss National Bank-led project Helvetia for real wholesale Swiss franc Central Bank Digital Currency, as well as the Agorá project, led by the Bank for International Settlements.

The pilot comes shortly after UBS launched its first tokenized investment fund on Ethereum, the UBS USD Money Market Investment Fund Token, targeted at authorized distribution partners in Singapore.

@ Newshounds News™

Source:  Crypto News

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XRP NEWS TODAY: RIPPLE PLANS DIRHAM-BACKED STABLECOIN LAUNCH IN UAE

▪️Ripple’s Dirham-Backed Stablecoin: Ripple plans a UAE launch, benefiting from clear regulations.

▪️RLUSD Speculation: Ripple’s potential US dollar-backed stablecoin stirs interest.

▪️XRP Price Stability: XRP remains steady amid stablecoin developments.

Ripple is generating buzz about a possible Dirham-backed stablecoin launch in the UAE, coinciding with discussions around its upcoming RLUSD. The firm recently praised the UAE’s progressive digital asset regulatory framework, which encourages blockchain innovation and stablecoin integration.

Ripple has maintained a strong presence in the Middle East, with notable partnerships such as the National Bank of Abu Dhabi’s adoption of its payment solutions. 

With the UAE’s regulatory clarity, a Dirham-backed stablecoin would align with Ripple’s goal to support secure and efficient digital transactions.

By tapping the UAE market for its stablecoin Ripple is surely making a big affair in the crypto business.  

Clear Regulations Fuel UAE’s Blockchain Ambitions
The UAE Central Bank has introduced a solid regulatory framework that supports stablecoin use in virtual asset transactions, including Dirham-backed coins.

Ripple has pointed out that this clarity positions the UAE as a leader in digital finance, creating an environment conducive to stablecoin adoption. For businesses in the UAE, a Dirham-backed stablecoin could provide a faster, more cost-effective solution for cross-border payments, making it an attractive option for financial institutions.

RLUSD and US Dollar Speculation: What’s Next for Ripple?
In the U.S., attention is now on Ripple’s potential release of the US dollar-backed stablecoin, RLUSD. Speculation is growing, especially with the possibility of Donald Trump winning the 2024 presidential election. A Trump presidency could bring clearer regulations, potentially accelerating the launch of RLUSD.

Recently, Ripple moved 294,000 RLUSD tokens, fueling curiosity about the timing of the release. CEO Brad Garlinghouse and industry experts are optimistic about RLUSD, seeing it as a key driver for cross-border payments and digital banking.

@ Newshounds News™

Read more:  CoinPedia

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🌱THIS IS HUGE! BIG NEWS IN THE FOOD WORLD AND FOR HOMESTEADERS THAT GROW FOOD!  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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🌱WHAT DO THE NEW CHANGES MEAN? DID YA CATCH THE INTEL? EXCITING GOOD FACTS.  |  Youtube

Did you miss the Live Constitution call last night with Mason and Jim?  Here is the Replay with many questions and comments from our members.  Listen and share.

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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MilitiaMan & Crew News Reporting-Sudani Art IV IMF-Port Faw Open-CBI Governor-No Room for Two Prices-USD-Dinar

MilitiaMan & Crew News Reporting-Sudani Art IV IMF-Port Faw Open-CBI Governor-No Room for Two Prices-USD-Dinar

11-8-2024

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=_gCfYJTP0qw

IRS Tax Code Updates 2024/25 What You Need to Know!

IRS Tax Code Updates 2024/25 What You Need to Know!

Edu Matrix:  11-8-2024

IRS Tax Code Updates 2024 25 What You Need to Know -The IRS announced over 60 major tax changes 2025 that could impact your tax savings and expenses!

From higher standard deductions and adjusted tax brackets to increased health and commuter benefits, these updates are designed to help American taxpayers manage inflation and ease financial strain.

In this video, we’ll break down the most significant changes you need to know, including updates to the standard deduction, Alternative Minimum Tax (AMT), earned income tax credit, estate tax, and more.

We’ll also cover key benefits for commuters, parents, and Americans working abroad. Whether you're a middle-income earner, high net-worth individual, or someone looking to save more in health and transportation costs, these changes could make a real difference to your finances in 2025.

Be sure to consult a tax professional for personalized advice, as these updates are set to take effect in 2025. Understanding these new rules can help you optimize your tax strategy and maximize your potential savings.

https://www.youtube.com/watch?v=y4FNKMSD95E

“Tidbits From TNT” Friday 11-8-2024

TNT:

Tishwash:  After extending the legislative term... Parliamentary movement to pass 5 "important" laws

 Member of Parliament Mudar Maan confirmed, today, Thursday (November 7, 2024), that the extension of the legislative session for 30 days came with political consensus to decide on 5 "important" laws.

Maan said in an interview with Baghdad Today, "The extension of the legislative session for 30 days came with political consensus among the forces due to the importance of proceeding with the vote on 5 laws that have reached the final stages, most notably the amendment of the general amnesty law and the rest of the other laws."

He added that "the extension comes in order to give the committees a chance to complete their work and proceed in the upcoming sessions to vote on the laws that concern many segments of Iraqi society," stressing that "there are agreements to proceed with the laws."

Maan pointed out that "the House of Representatives will proceed at a faster pace in deciding the laws during the extension, during which we will see important laws put to a vote."

The media department of the House of Representatives stated in a brief statement today, Thursday, that the House Presidency decided to extend the current legislative session for 30 days, starting from November 9.  link

Tishwash:  Al-Alaq describes the parallel dollar as “abnormal”: There is great stability in prices

The Governor of the Central Bank of Iraq, Ali Al-Alaq, described the prices traded in a real parallel market as “abnormal,” while pointing out that there is great stability in prices and a decline in inflation rates.

Al-Alaq said in an interview with local media outlets: “We understand the focus on the rise in exchange rates in local markets, but we believe that the focus should be on the ability of the Central Bank to implement full coverage of foreign transfers for commercial or other purposes, and this happens on a daily basis.”

He added, "The daily dollar selling rates are high and almost sufficient to cover the needs of traders, businessmen and even citizens, and therefore we look at the price through the amount of sales that the Central Bank undertakes daily at the official price."

He pointed out that “the Central Bank looks at another indicator, which is the inflation rate in the market, and we notice that there is great stability in prices and a decrease in the inflation rate, which indicates that foreign trade is covered by the official price, which is 132,000 dinars.” (Per dollar)

The Central Bank Governor continued: “The price that is traded in the market is in fact an abnormal price that does not reflect the true price. Usually, this price is called a parallel price when there is a real parallel market with sources of dollars other than the Central Bank.”

Al-Alaq called on citizens to “pay attention to the fact that the price they are looking at is the price at which the Central Bank sells to traders,” noting that “more than 95% of the Central Bank’s daily sales are foreign transfers, and this foreign transfer is what represents the reality of commercial and other operations that it covers at the official price.”  link

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Tishwash:  Al-Sudani takes a number of steps regarding financial and banking reform in Iraq

Prime Minister Mohammed Shia al-Sudani directed, on Friday, to take a number of steps within the framework of banking and financial reform in the country, including increasing the number of bank branches in the governorates, as most activities are concentrated in the capital, Baghdad.

Al-Sudani's media office stated in a statement today that "within the framework of efforts to reform the financial and banking system, as one of the priorities of the government program, and in light of the important steps achieved during the past two years, and in light of the challenges facing the financial and banking system, especially in the governorates, and since confronting them requires greater attention and radical improvements to ensure enhancing confidence in the financial and banking sectors, facilitating the process of economic development, increasing financial inclusion and raising its indicators throughout the country, and because most of the activities were concentrated in the capital, Baghdad, Al-Sudani directed that a number of steps be taken in this regard."

Among the steps, according to the statement, is “increasing the number of bank branches in the governorates to meet the needs of the local population, and in a way that contributes to expanding the scope of financial services, while paying attention to buildings, their modernity, and providing their basic requirements.”

The statement pointed out the necessity for all banks in the governorates to adopt modern technologies such as online banking services and mobile applications, which facilitates citizens’ access to their banking services easily.

The statement stressed the importance of banks developing their financial services to suit the needs of individuals and small businesses, such as soft loans and savings accounts.

The media office pointed out the enhancement of financial inclusion in the governorates by providing banking services to different segments of society, including districts and sub-districts in villages and rural areas.

The statement called for launching conferences and awareness campaigns in the governorates, to educate citizens about the importance of dealing with banks and how to manage and invest money properly.

The statement directed the organization of workshops to train young pioneers and local businessmen on how to deal with loans and financial services.

The statement added that the Ministry of Finance, the Central Bank of Iraq, and the Iraqi Private and Islamic Banks Associations will coordinate with the governors’ offices to accomplish the above tasks according to their jurisdiction and responsibility, and submit quarterly reports (every three months) to the Prime Minister’s Office regarding the progress of work on the steps mentioned above. link

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Tishwash:  Parliamentary Oil: Gas licensing rounds will support the financial budget

The Parliamentary Oil and Gas Committee stressed, on Thursday, the importance of gas licensing rounds in diversifying Iraq's imports and supporting its budget with new sums.

Committee member Ali Saadoun said in an interview with Al-Maalouma Agency, “The gas licensing rounds are of great benefit to Iraq and provide the financial budget with sums through extracting and selling gas, as well as diversifying the state’s imports.”

He added, "There are quantities of gas in several exploration extraction areas, and the companies that have applied to work in them are diverse, including Chinese companies, and they will begin their activities," indicating that "this important step was supposed to take place 10 years ago." 

It is noteworthy that the Minister of Oil, Hayan Abdul Ghani, had previously expected an increase in gas production by 3 billion cubic feet as a result of the licensing rounds.  link

Mot: The Box - Simon's Cat...... https://www.youtube.com/watch?v=EKvNqe8cKU4

Mot:  Christmas Cat

Iraq Economic News and Points To Ponder Friday am 11-8-24

Al-Alaq Describes The Parallel Dollar As “Abnormal”: There Is Great Stability In Prices

 November 7, 2024  Baghdad/Iraq Observer   The Governor of the Central Bank of Iraq, Ali Al-Alaq, described the prices traded in a real parallel market as “abnormal,” while noting that

 there is great stability in prices and a decline in inflation rates. Al-Alaq said, in an interview with local media, followed by “Iraq Observer”:    “We understand the state of focus on the rise in exchange rates in local markets, but  we believe that the focus should be on the ability of the central bank to implement full coverage of external transfers for commercial or other purposes, and this   “It happens on a daily basis.”

He added,   “The daily dollar selling rates are high and almost sufficient to cover the needs of merchants, businessmen, and even citizens.

 Therefore, we look at the price through the amount of sales that the Central Bank undertakes daily at the official rate.” He pointed out,

  “The Central Bank looks at another indicator, which is the inflation rate in the market, and

 we notice that there is great stability in prices and a decrease in the inflation rate, which indicates that foreign trade is covered by the official price, which is 132,000 dinars.” The Governor of the Central Bank continued:

  “The price that is being traded in the market is in fact an abnormal price that does not reflect the reality of the price.

 Usually, this price is called a parallel price when there is a real parallel market that has sources of dollars from other than the Central Bank.”

 Al-Alaq called on citizens to “pay attention to the fact that the price they are looking at is the price at which the Central Bank sells to merchants,” pointing out that

 “more than 95% of the Central Bank’s daily sales are external transfers, and

this external transfer is the one that represents the reality of commercial and other transactions.” He covers it at the official price.”    https://observeriraq.net/العلاق-يصف-دولار-الموازي-بـالشاذ-وجو/

The Governor Of The Central Bank... Who Goes To Buy Dollars From The “Black Market”?

 November 7, 2024  Baghdad/Iraq Observer   The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, identified the categories that go to buy dollars from the black market.  Al-Alaq said, in an interview with local media, followed by “Iraq Observer,” that

 “a number of merchants, for their own reasons, still do not come using the traditional method and transfer what they need at the official price, but the percentage of these merchants decreases over time.” He added,

  “There were a small number of people entering the platform for external transfers,

 but now the numbers have become large and constantly increasing, and

 when we reach the point that everyone is moving to use official and fundamentalist channels in the transfer process, then we find no room for there to be two prices for the dollar.”.  The Governor of the Central Bank wondered:

“Why do some people go to buy the dollar on the black market if they have a legitimate request to obtain the dollar, such as if they are a traveler or a citizen buying from abroad or a merchant importing goods or a person who refers to related people abroad for study or treatment or for each other?” Purposes?     https://observeriraq.net/محافظ-البنك-المركزي-يُحدد-من-يذهب-لشرا/

Iraq's Possession Of Gold Increased To More Than 152.5 Tons

 Economy  2024-11-06 Shafaq News/ The World Gold Council announced, on Wednesday, that Iraq had increased its gold holdings to more than 152.5 tons.

According to the latest table published by the Council for the month of November 2024, viewed by Shafaq News Agency,

 “Iraq ranked 29th out of 100 countries included in the table with the largest gold reserves,” indicating that

“Iraq ranked third in the Arab world after Saudi Arabia and Lebanon.” He added,

"Iraq increased its possession of gold to 152.6 tons after its possession was 152.5 tons, which represents 11.5% of its other reserves." The Council also pointed out that

  “the United States of America sits on the throne of the rest of the countries with the largest possession of gold in the world at 8,133.5 thousand tons, followed by Germany with 3,351.5 thousand tons, then Italy came with 2,814 thousand tons, while Bosnia and Herzegovina came at the bottom with 1.5 thousand tons.” tons".

 It is noteworthy that the World Gold Council is based in the United Kingdom, has extensive experience and deep knowledge of the factors causing market change, and its members consist of the largest and most advanced gold mining companies in the world.    https://shafaq.com/ar/اقتصـاد/ارتفاع-حيازة-العراق-من-الذهب-لى-كثر-من-152-5-طنا

Iraq Is Entering A New Economic Phase.. “Huge” Ships Dock In The “Large” Port

 November 7, 2024  Basra/Iraq Observer   With the receipt of the five berths of Al-Faw Port from the Korean executing company, Iraq entered the era of a state whose ports overlooking the Gulf are officially relied upon to receive huge ships.

 An event that Prime Minister Muhammad Shiaa Al-Sudani, who sponsored today’s handover ceremony for the project that the government described as the “People’s Project,” stressed that

“it is of great importance because of its connection to the development road project, which will connect, starting from the large port of Al-Faw, the economies of most countries in the region, and will be an outlet for achieving integration.

” The economist, pointing out that Iraq remains a fundamental pillar in the global economy, and a historical part and corridor of the most important international exchange routes.

 During the opening, Al-Sudani pointed out the importance of the five berths in the Grand Al-Faw Port.

 It represents the backbone of the port project in its first phase, which will be completed next year according to the previous schedules.

 Huge commercial ships with large submersibles have already docked at the port’s docks.

 Increase Revenue

 Member of the Parliamentary Finance Committee, Mustafa Al-Karawi, said in a statement to the official agency, followed by “Iraq Observer,” that

 “Iraq depends on oil for its resources by 90%, and

there is serious government work and direction to increase non-oil revenues,” indicating that

 “the importance of ports lies in their It represents two revenue streams: the

     first is oil through exporting oil and receiving oil tankers, and the

     other is through the entry of goods.”  He added,

“The opening of the five berths and the completion of the investment in Al-Faw Port will contribute to supporting the path of development, in addition to being part of the Silk Road,” noting that

 “Iraq is located in a geographical area that makes it a link between the major countries, China and Europe.”

 Development Path

 In turn, the Prime Minister’s Advisor for Transport Affairs, Nasser Al-Asadi, said in a statement to the official agency and followed by “Iraq Observer” that

 “the opening of the first berths of the port will be followed by the opening of the remaining berths within the specified periods,” pointing out that

“the economic importance of these berths lies in opening the door Iraq has to make the Al-Faw Port project a reality, transforming it into a diversified economy through Al-Faw Port’s revenues.”  He stated,

 “Al-Faw Port has become a reality and will be the main artery of development, in addition to providing great job opportunities.” He confirmed,

  “The ships have begun to dock experimentally at the five berths, all of which have been opened,” noting that

 “there are other parts of the port that are close to completion.”

Giant Ships

Economic analyst Ahmed Abd Rabbo confirmed in a statement to the official agency, which was followed by “Iraq Observer,” that

“Al-Faw port differs from other ports in Iraq in that it is directly connected to the Gulf, while the other ports are in sea channels, and the

 opening of the five berths means inaugurating the phase of Iraq’s reception of giant and large ships that... It was impossible to enter.” He stated,

 “The other advantage of Al-Faw Port is the depth of its waters, which differs from other ports, and this matter will contribute to the process of actually embarking on the path of development by allowing ships of various sizes to dock.” He continued,

 “The opening of the docks cut off the talk of those who doubted the completion of Al-Faw Port and began the countdown to the completion of the Grand Al-Faw Port project.”

Attracting international shipping companies

 Economic expert Ahmed Saddam said in a statement to the official agency and followed by “Iraq Observer” that

“the expected economic importance of Al-Faw port after completing other equipment such as cranes, warehouses, management systems and their accessories lies in encouraging the entry movement of large ships that need a large draft, as well as reducing the burden on Umm port.” castle". He continued,

 “This means that Al-Faw Port will contribute to attracting new shipping companies in the future that can raise the level of the port’s revenues.” He pointed out,

 “Other positives for the Iraqi economy are the provision of

     employment opportunities within the port, as well as

     opening the door to internal land transport companies that will deal with the port in the future.” He stated,

  “If we take into account the activation of the Basra Law, the economic capital of Iraq, then

 Al-Faw Port will be the mainstay for attracting foreign direct investment companies after providing appropriate facilities for that.

 This will naturally be reflected in the Iraqi economy by raising the level of non-oil investments and their revenues.”    https://observeriraq.net/العراق-يدخل-مرحلة-اقتصادية-جديدة-السف/

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

Seeds of Wisdom RV and Economic Updates Friday Morning 11-8-24

Good  Morning  Dinar Recaps,

XRP LAWSUIT: ARE RIPPLE’S BRAD GARLINGHOUSE AND CHRIS LARSEN AT RISK OF PRISON, OR WILL THE SEC WITHDRAW ITS APPEAL?

The final phase of the crypto bull market appears to have begun, with Bitcoin hitting new highs and altcoins starting to show signs of life. Meanwhile, there’s growing speculation that the SEC’s new chair could end lawsuits against Ripple, Coinbase, and others. Former SEC officials are predicting big changes ahead.

It seems like SEC Commissioner Mark Uyeda is in the running to be appointed acting SEC chair during the transition period after Gary Gensler’s departure. 

This is huge for the crypto space, especially since Uyeda is known for being more favorable towards the industry. There’s also a chance that Hester Peirce, another crypto-friendly commissioner.

Jeremy Hogan, a crypto lawyer, also shared his thoughts, predicting that Gensler will likely step down before January 20th. He believes that the new leadership will move quickly to dispose of non-fraud crypto cases, including those involving Ripple and Coinbase.

This could lead to the dismissal of many ongoing cases, with the Ripple case likely settled for the $125 million already awarded by the court.

Amid the ongoing uncertainty surrounding the current administration, one user asked whether a new, crypto-friendly government could lead the SEC to withdraw its appeal in the Ripple case. 

Marc Fagel, a former SEC attorney said that typically, enforcement actions are based on the law, not political influence, and it would be highly unusual for the SEC to reverse course. However, with the current administration challenging traditional norms, it’s hard to predict what could happen next.

When asked whether Ripple executives Brad Garlinghouse, David Schwartz, and Chris Larsen could face prison time for alleged fraud, the attorney declined to comment. The user accused them of “scamming people for over 10 years” and profiting hundreds of millions did not receive a direct response.

@ Newshounds News™

Source:  CoinPedia

~~~~~~~~~

DEFI NEEDS REGULATION TO DRIVE ADOPTION — WEB3 EXEC

Web3 professional Agne Linge believes that for broader DeFi adoption, regulations must catch up to make people feel safe.

While decentralized finance (DeFi) technology is advancing within the Web3 space, a crypto executive believes the sector still has a long way to go.

At the recent Binance Blockchain Week in Dubai, Agne Linge, a former director of Binance Lithuania who now works with Web3 projects WeFi and Yellow Network, told Cointelegraph that while regulations in jurisdictions like Europe have addressed centralized exchanges and wallet providers, DeFi remains largely “out of scope.”

Linge believes that for DeFi to achieve broader adoption, regulations must be deployed for the industry. Linge told Cointelegraph:

“If you want adoption, we need regulation. We need people to feel safe and to trust the institutions. With what happened in the crypto industry, I think we still have some reputational work to do.” 

Linge also praised regulators for “weeding out” bad actors in the ecosystem and trying to understand the technology but emphasized that DeFi also needs attention.

DeFi not “totally” decentralized
While some in the crypto community believe DeFi should operate without regulation, Linge has a different view. The executive said that even decentralized autonomous organizations (DAOs) members are in danger of being legally accountable. She said:  

“This is not true. I mean, even a DAO. If you are a DAO, then all of the DAO members can be legally liable.”

According to Linge, the space needs regulation because it’s “not totally decentralized.” Linge explained that DeFi still has people signing contracts, on and off-ramp providers, and other variables that would benefit from regulatory clarity.

When asked about DeFi’s potential for wider adoption, Linge argued that, because DeFi places finance on a decentralized blockchain, it could reduce reliance on centralized options:

“With the tools that we have, everything is widespread and globally connected, why would we use centralized solutions? I mean, this will provide more efficient interaction and integration to everything.”

She added that while DeFi is currently in its own niche, it will eventually take another shape or form. “Maybe not completely like autonomous. There will be persons responsible like legal entities, but in general, the infrastructure is only for the benefit of this globally interconnected world,” Linge added.

@ Newshounds News™

Source:  CoinTelegraph

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🌱 BUCKLE UP BUTTERCUP - BUILD A STRATEGIC BTC RESERVE? |  Youtube   

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Source:  Seeds of Wisdom Team RV Currency Facts

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MilitiaMan & Crew News Reporting-Iraq Dinar-International Stability-Financial System-IMF-Article 140-Port of Faw

MilitiaMan & Crew News Reporting-Iraq Dinar-International Stability-Financial System-IMF-Article 140-Port of Faw

11-7-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, Brian’s Place, GIGI and Militia Man

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

https://www.youtube.com/watch?v=1qycj3m0cYw

Seeds of Wisdom RV and Economic Updates Thursday Evening 11-7-24

Good Evening Dinar Recaps,

BRICS: RUSSIA SAYS IT WON’T DITCH US DOLLAR AFTER TRUMP’S VICTORY

In a shocking twist for the BRICS alliance, Russian President Vladimir Putin has said that they will not ditch the US dollar. In a sit-down interview Thursday, Putin confirmed that Russia is not abandoning the dollar, it is “simply refusing to use the dollar as a settlement tool.”

Putin called the US dollar a “pillar of US power,” saying that the US is undoing this power. The BRICS bloc has long pushed its de-dollarization initiative, saying the greenback won’t be king for long.

The alliance recently discussed de-dollarization at its October Summit, and multiple countries have decided to stop using the dollar.

“The payments in dollars are decreasing,” Putin said. “Not too much, as of yet, but as a means of savings, it’s going down step by step. Very gradually it’s shrinking, it is a trend. It’s their own doing.”

In regards to BRICS proposals of ditching the US dollar, the Russian president reaffirmed that “our proposals are not aimed against [the] dollar. This is simply us rising to the challenge of modern times, in response towards the development of the economy we are thinking.”

BRICS Continues Developing Payment System to Rival US Dollar
Putin also discussed how BRICS is currently in the development phase of a unified BRICS payment system rooted in the payment systems of different countries. 

The new system will be “using the groundwork of the systems in each country in exchanging of financial information,” the Russian president said.

The bloc has continued to embrace trades in local currencies. Moreover, they have worked to develop their unique payment infrastructures. These projects should only encourage financial autonomy. Moreover, they should be clear threats to Western hegemony and US dollar dominance. 

The most interesting point from Putin’s interview is that despite the de-dollarization efforts, Russia has decided not to ban or abandon the greenback: simply avoid it.

Earlier this year, Donald Trump hinted he would consider lifting sanctions, encouraging the use of the dollar. Now that he will be President again, it will be interesting to see how the bloc responds if he does just that. 

Putin and China’s President Xi Jinping have already opened the door to speaking to Trump, so perhaps there is a future where BRICS and the US dollar live in harmony.

@ Newshounds News™

Source:  Watcher Guru

Read more:  Twitter

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DETROIT TO BECOME LARGEST US CITY TO ACCEPT CRYPTO PAYMENTS FOR TAXES

Starting mid-2025, Detroit residents can pay taxes and fees in crypto, with blockchain entrepreneurs invited to enhance civic solutions.

▪️Detroit will begin accepting crypto assets for tax payments from mid-2025, making it the largest US city to do so.

▪️The initiative aims to modernize public services and improve accessibility for unbanked residents.

Detroit will soon allow residents to pay taxes and other city fees with crypto, becoming the largest US city to adopt crypto payments.

City officials announced that this option will be available mid-2025 and managed securely by PayPal. This new payment method aligns with Detroit’s broader strategy to modernize public services, strengthen civic engagement, and drive economic growth.

Detroit Mayor Mike Duggan expressed enthusiasm for the initiative, emphasizing the city’s dedication to creating a tech-friendly environment that supports residents and entrepreneurs alike.

“Detroit is building a tech-friendly environment for residents and entrepreneurs,” said Duggan. “We’re excited to be among the first US cities to explore blockchain applications and offer cryptocurrency as a payment option.”

The city treasurer, Nikhil Patel, highlighted that the new platform would improve accessibility for Detroit residents, especially those who are unbanked or prefer digital payments.

 “This platform upgrade will also make it easier for Detroiters to make electronic payments.”

In addition to the new crypto payment option, Detroit is actively encouraging blockchain entrepreneurs to propose projects that enhance transparency, security, and efficiency in public services.

Proposals can be submitted to Justin Onwenu, Detroit’s Director of Entrepreneurship and Economic Opportunity, by December 15, 2024.

Onwenu explained, “Blockchain technologies have the potential to drive greater accessibility, efficiency, transparency, and security, and we’re excited to hear from entrepreneurs at the forefront of this work.”

With this move, Detroit joins a growing number of municipalities adopting crypto payments. Currently, Williston, North Dakota, and Miami Lakes, Florida, accept crypto for specific city services.

However, Detroit will surpass these cities in scope and size, establishing itself as the largest US city to accept crypto.

Cities like Miami and New York have shown strong crypto support, while states such as Colorado, Utah, and Louisiana have already implemented crypto payment options for state taxes.

@ Newshounds News™

Source:  Crypto Briefing

~~~~~~~~~

🌱FED CUT? WHY DO I CARE? WHAT DOES IT MEAN? DIVE IN WITH US.  |  Youtube

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Source:  Seeds of Wisdom Team RV Currency Facts

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Seeds of Wisdom RV and Economic Updates Thursday Afternoon 11-7-24

Good Afternoon Dinar Recaps,

FED CUTS RATES AS BITCOIN CONTINUES ROARING

The Federal Reserve slashed interest rates again on Thursday in a move that could boost Bitcoin—which is already in all-time high territory.

The Federal Reserve on Thursday slashed interest rates in an expected decision that could give "risk-on" assets like Bitcoin a further boost—and the top digital asset is already surging in recent days, setting multiple all-time high price points following Donald Trump's election win.

America's central bank approved a quarter-point interest-rate cut—a move backed by all 12 Fed voters. In September, the Fed cut by 50 basis points in its first such reduction since it aggressively raised rates in 2022.

Bitcoin and other cryptocurrencies have largely benefited from low interest rates because they, like tech stocks, tend to experience more volatile price movements.

But in 2022, the central bank aggressively hiked interest rates in a bid to tame inflation amid the COVID-19 pandemic, making such investments less attractive. Now that inflation is in check, the central bank can make it cheaper to borrow money again.

"The Committee judges that the risks to achieving its employment and inflation goals are roughly in balance," the Fed said in a statement Thursday.

Matt Mena, crypto research strategist at exchange-traded fund (ETF) issuer 21Shares, said in a statement provided to Decrypt that the latest cut could give crypto a further boost.

"The Fed's 25 bps rate cut introduces an economic boost favorable to risk assets like Bitcoin," he said. "Combined with Trump's pro-crypto policies, this creates a supportive macro environment for Bitcoin."

@ Newshounds News™

Source:  Decrypt

~~~~~~~~~

RIPPLE CEO SHARES HIS ‘FIRST 100-DAY’ CHECKLIST FOR THE PRESIDENT

Brad Garlinghouse, CEO of Ripple, has outlined what he believes should be part of the President's first 100-day agenda for crypto.

Trump’s victory in the 2024 U.S. election has offered not just a pro-crypto president, but also the most pro-crypto lawmakers in the House and Senate. With crypto in celebratory mood as Bitcoin leads prices higher, the overall sentiment is that this is only the beginning of what’s bullish for the industry.

However, among the top priorities for the sector is the push for regulatory clarity. In his congratulatory message, Ripple CEO Brad Garlinghouse outlined what he sees as a few of the things the president can do in his first 100 days to get the ball rolling.

Fire Gensler
At the top of the list is fulfilling a campaign pledge: firing U.S. Securities and Exchange Commission Chair Gary Gensler on “day one.” 

Garlinghouse suggests replacing Gensler with a more crypto-friendly candidate, naming Dan Gallagher (chief legal officer of Robinhood), Christopher Giancarlo (former head of the Commodity Futures Trading Commission), and Brian Brooks (former acting comptroller of the currency) as potential successors.

“They’d be massive upgrades in rebuilding the rule of law (and reputation) at the SEC,” the Ripple CEO posted on X.

In his victory speech following Tuesday’s election, Trump expressed his commitment to uniting the nation and driving change.

On his ‘first 100-day’ checklist Garlinghouse wishes to see the president getting Republicans and Democrats together to “move the digital asset market structure bill forward in the Senate.”

Notably, the U.S. House of Representatives passed the bill in May 2024.

The final item on Garlinghouse’s list pertains to Ethereum. Ripple’s legal battle with the SEC, from December 2020 to July 2023, challenged allegations that XRP was a security, ultimately resulting in a favorable court ruling. While the SEC approved spot Ethereum exchange-traded funds in May, Garlinghouse couldn’t resist a pointed comment aimed at the regulator.

“And last but not least, can we get some clarity…..similar to XRP and BTC, that ETH is not security, right?!” he wrote.

@ Newshounds News™

Source:  Crypto News

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🌱 PRESIDENT HARRIS HOW? THE PLAN AND WILL IT HAPPEN? GIPPER'S NEWS  |  Youtube

Gipper's News Reader: https://t.me/+Thh6fZ5bQJfRxU3f 

Read More: https://t.me/c/1310227069/156714

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Source:  Seeds of Wisdom Team RV Currency Facts

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