Dollar Needs to Be Gold-Backed Again, This Is How It’s Possible & Why Fed Needs Reform Now | Shelton

Dollar Needs to Be Gold-Backed Again, This Is How It’s Possible & Why Fed Needs Reform Now | Shelton

Kitco News:  11-11-2024

Money should be as trustworthy as gold itself, says Dr. Judy Shelton, Senior Fellow at the Independent Institute, former economic advisor to President Donald Trump, and author of Good as Gold.

Shelton explains why the dollar needs to be backed by gold again and how this can be achieved in today’s monetary environment.

 She also argues that the Federal Reserve needs reform to save the U.S. dollar, examining the central bank’s mandates and misguided inflation targets.

https://www.youtube.com/watch?v=cnswfqysi2k

Seeds of Wisdom RV and Economic Updates Monday Morning 11-11-24

Good Morning Dinar Recaps,

BRICS DIGITAL ASSET PLATFORM PROPOSAL POISED TO RESHAPE GLOBAL INVESTMENT

A proposed BRICS digital asset platform could ignite unprecedented investment in South Asia, Africa, and Latin America, driving growth in emerging markets.

Digital Assets at the Core of BRICS’ Ambitious New Investment Platform
Russian President Vladimir Putin discussed the proposed creation of a BRICS investment platform to support developing markets at the Valdai Discussion Club’s plenary session in Sochi on Friday. He was quoted by Tass as saying:

We suggest creating a new investment platform of [BRICS countries], using electronic assets, developing them.

“The point is to create such a platform of electronic payments, with the use of which it will be possible to invest in developing markets, and these are primary markets of South Asia, Africa, and Latin America in part,” the Russian leader added. The proposed system would facilitate investments from BRICS nations into high-growth areas by utilizing a digital framework, enabling streamlined investment in these regions.

The BRICS economic bloc expanded on Jan. 1 to include Egypt, Ethiopia, Iran, and the United Arab Emirates (UAE), joining Brazil, Russia, India, China, and South Africa. This expansion aimed to boost the group’s global economic and political influence. At a recent summit in Russia, BRICS also extended partnership invitations to 13 additional countries, further widening its international presence.

Putin highlighted that the regions targeted by this initiative exhibit strong demographic and economic potential, factors that make them attractive for BRICS investment. He opined:

We think so because very strong demographic processes are taking place there: population growth, capital accumulation, the urbanization level is in sufficient there and it will definitely grow.

At the 16th BRICS Summit, held from Oct. 22-24 in Kazan, Russia, members discussed expanding the bloc’s global influence, including developing alternatives to Western-dominated payment systems to boost financial independence. 

Putin has also clarified Russia’s stance on the U.S. dollar, stating that while Russia faces restrictions on its use, it does not intend to abandon the currency. He criticized U.S. policies that limit dollar use, arguing they undermine American financial authority, though he affirmed the dollar’s importance to Russia’s economy.

@ Newshounds News™

Source:  Bitcoin News

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RIPPLE V. SEC LAWSUIT: RUMORS SUGGEST NEXT POTENTIAL CHAIRMAN OF THE REGULATOR WILL BE PRO-CRYPTO

Firing Gensler seems like one of Trump’s most important crypto-related promises.

▪️Trump’s pledge to replace SEC Chair Gensler with a pro-crypto leader has sparked excitement across the community.

▪️Legal experts believe such changes could lead to a faster resolution of the Ripple v. SEC case.

Gensler’s Possible Successor
Donald Trump’s victory in the US presidential elections triggered a massive bull run for the cryptocurrency sector due to his shift from a previously skeptical view to a supportive stance on the asset class. During his campaign, the Republican pledged to make America “the crypto capital of the planet” and proposed creating a strategic BTC reserve.

He also expressed the intention to fire the SEC’s Chairman Gary Gensler on day 1, a promise which triggered huge enthusiasm among the XRP Army. To the uninitiated ones, the Commission and its head have been at war with numerous crypto companies, including Ripple.

Crypto X has been speculating whether the newly-elected president will stick to his promise and wondering who might replace Gensler at the helm of the securities regulator. 

Eleanor Terrett (a popular journalist at Fox Business) recently claimed she discussed the matter with “a person close to the Trump transition team,” who assured her that the successor “will be someone pro-crypto.”

NEW: I asked a person close to the Trump transition team about some of the names being floated for @SECGov chair and whether views on #crypto would factor into the decision.

The response: “I promise you it will be someone pro-crypto.”

— Eleanor Terrett (@EleanorTerrett) November 8, 2024

A new SEC Chairman who is more open to innovation and less inclined to hamper the crypto industry’s advancement by constant legal battles is considered good news not only for those invested in XRP but the entire digital asset market.

The Potential Effect on the Case
Last week, Fred Rispoli (a US attorney who has been following the updates surrounding the Ripple v. SEC lawsuit) argued that the election of Trump could lead to “extreme changes” at the watchdog.

He claimed that the $125 million penalty, which Federal Judge Torres ordered Ripple to pay for violating certain securities laws, is the biggest win the agency can gain. Rispoli also thinks that the SEC’s new potential leadership will “recognize this whole case was idiotic and settle at that point.”

“This might include a reduction in the fine and an agreement that current sales of XRP by Ripple are sufficiently structured to not be investment contracts,“ he added.

The American lawyer Jeremy Hogan chipped in, too. He went even further, forecasting that the new leader of the SEC may dismiss all non-fraud crypto lawsuits filed over the years. Similar to Rispoli, Hogan believes the case could be officially settled for the amount of $125 million:

“It would be…awkward to settle for less than what was already awarded by a Court! The Coinbase and other cases in litigation will simply be dismissed. This will take some time. Not January, but perhaps before summer. That’s my call, and I’m sticking to it.”

@ Newshounds News™

Source:  Crypto Potato

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🌱GIPPER'S NEWS READER NEW PRESIDENTIAL PLAN FOR 2025 - ARMED FORCES OF AMERICA  |  Youtube

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Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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“Tidbits From TNT” Monday Morning 11-11-2024

TNT:

Tishwash:  Al-Sudani in Saudi Arabia tomorrow: A speech at the Riyadh Summit and an attempt to limit the “expansion of the conflict”

An informed political source reported that Iraqi Prime Minister Mohammed Shia al-Sudani will head to the Saudi capital, Riyadh, tomorrow, Monday, November 11, to participate in the Arab-Islamic summit. 

The source told Shafaq News Agency, "The participation of the Iraqi delegation in the extraordinary joint Arab-Islamic summit, in Riyadh, will be headed by Al-Sudani and will include Foreign Minister Fuad Hussein, and Al-Sudani will deliver a speech at the meeting." 

He pointed out that "any developments will take place after the meeting, such as side meetings with the leaders of the countries participating in the meeting."  

Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein arrived in the Saudi capital, Riyadh, on Saturday evening to participate in the ministerial meeting of the extraordinary joint Arab-Islamic summit.

A statement by the Foreign Ministry said that Minister Hussein began his visit by meeting with the Palestinian Prime Minister and Foreign Minister, Mohammed Mustafa, where they discussed ways to enhance bilateral cooperation between the two countries.

Leaders of Arab and Islamic countries have begun arriving in Saudi Arabia in preparation for a summit to be held tomorrow, Monday (November 11), to discuss the war in Gaza and Lebanon and developments in the region, according to the Saudi Press Agency.

In late October, the Saudi Foreign Ministry announced the summit during the first meeting of an international coalition established to advance a two-state solution to end the Israeli-Palestinian conflict.

The summit is being held to "discuss the continued Israeli aggression on the Palestinian territories and Lebanon and developments in the region," according to what the Saudi Press Agency reported on Sunday.

It comes as an "extension of the joint Arab-Islamic summit held in Riyadh on November 11, 2023" at the initiative of the Arab League (Cairo) and the Organization of Islamic Cooperation (Jeddah).

Saudi Al-Ekhbariya TV broadcast footage of the arrival of Nigerian President Bola Tinubu and Lebanese Prime Minister Najib Mikati. link

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Tishwash:  Sabah Sobhi: The first reading of the draft oil export law will take place next week

A member of the Iraqi parliament's oil and gas committee confirmed that the first and second readings of the oil export bill are scheduled to take place in the Iraqi parliament next week, adding that there is agreement with the Shiite parties on certain conditions for passing the oil export bill.

“The main obstacle to oil exports was Article 12 of Budget Law No. 13 of 2023, as the second paragraph of that article, paragraph “c,” stipulated that the issue of production and transportation equals the cost of production and transportation in the federal Ministry of Oil. This means that all oil production and transportation depends on the federal Ministry of Oil’s estimates for all Iraqi oil fields.

 According to the federal Ministry of Oil, the cost of extracting oil in Iraq is about 9,000 to 9,000 dinars, while the cost of transportation is 1.2 cents, and oil companies are dealt with on this basis,” Sabah Subhi, a member of the Oil and Gas Committee in the Iraqi parliament, told Kurdistan 24.

He added, "Oil production in Kurdistan has been ongoing since 2007 and was the first stage of the export process, so an agreement was reached with the companies based on the government's and companies' share of the revenues, but since 2014 there have been attempts to stop the export of Kurdistan's oil."

Sabah Sobhi pointed out that "international security developments show that the Arabian Gulf is in danger due to tensions in the region, and the danger to Iraq in this case lies in the closure of the road to oil exports," adding that "Iraq only has one port for oil exports, which is the port of Basra, and 95% of Iraq's economy depends on oil."

He continued, "Iraq exports about 3.5 million barrels of oil per day. If we consider the price of a barrel at $70, the total amount of sales will be an imaginary amount. Therefore, if Iraq is unable to export its oil, a disaster will occur, since Iraq's economy depends on oil by 95%."

He added, "Iraq is looking for another port to export its oil, and it has the Haditha crossing, through which Iraq has been trying to build an oil pipeline for years, and the cost of the project is estimated at two billion dollars."

Sabah Sobhi stressed that "there is great pressure on the federal government to solve the oil problem before the arrival of winter in Europe, because there are many countries suffering from an energy crisis."

He explained that "the first and second readings of the oil export project will take place on Sunday and Monday of next week."

A member of the parliamentary oil and gas committee said, “The State Administration Coalition held a meeting on the issue of oil exports and everyone agreed to amend the project.”

He added, “I believe that the Shiite parties will agree to the project on condition that some of the project’s articles related to providing the governorates’ budgets and the issue of oil revenues are amended, in addition to some strategic projects for some of the central and southern governorates.”  link

Tishwash:  This is from Iraqi News

Financial assets hit new record highs ahead of 2024

 The year 2024 witnessed a large number of financial assets recording new record levels that they had never seen before, especially with the shifts in global monetary policy and developments in the political and geopolitical situation across different regions of the world.

This year, gold, Bitcoin, the US stock market, European indices, and technology stocks, especially the chip and semiconductor giant Nvidia, have all reached record levels never seen before. 

These increases provided distinct investment opportunities for all investors and small speculators who benefited from the possibility of trading these assets through the best licensed trading companies in Iraq 2024 .

Geopolitical concerns and political developments

Despite the different factors that pushed these assets to record levels, there are one or two factors that are common in pushing them to record these increases. For example, geopolitical developments in the Middle East and fears of an escalation of the war between Israel and Iran supported the rise of gold. On the other hand, the boom in artificial intelligence was one of the most important factors that supported the shares of the technology giant Nvidia, which in turn boosted the US stock market.

Monetary policy shift of central banks

At the same time, there are stable factors that support all of these assets, the most important of which are developments in monetary policy and the shift of global central banks from financial tightening based on raising interest rates from the beginning of 2022 until the middle of this year.

The central bank of Australia, Canada, the European Central Bank, the Bank of England, and the Federal Reserve have all begun to cut interest rates as global inflation rates decline. In this regard, the Federal Reserve cut interest rates in November for the second time this year by 25 basis points after cutting interest rates for the first time last September by 50 basis points amid expectations of a third cut in December by another 25 basis points, bringing the total expected interest rate cuts in 2024 to about 1 percent.

The Bank of England cut interest rates twice this year by 25 basis points each time, while the European Central Bank preceded all banks after approving three interest rate cuts amid expectations of an additional cut in the last months of the year. Cutting interest rates supports financial assets by withdrawing savings from banks with the decline in the interest they generate, as they are pumped into other assets such as the stock market with the aim of targeting a higher return, or gold, which is a store of value and does not bring interest, but it is a safe asset that investors resort to in times of uncertainty and for the purpose of hedging.

Is the beginning of the year marathon over?

There are currently some questions about whether what can be called the market bull marathon is over, especially for those who missed the start of the big rise. Gold has been accelerating since August of last year, while US indices have accelerated at the beginning of this year in what is known in the financial markets as the "Santa Rally". In this context, it can be answered that the markets, despite the possibility of recording some downward corrections, the factors for continuing the rise already seem to be present, especially with Donald Trump clinching the presidency, amid expectations of adopting financial policies that may maintain the momentum of the index market's rise.

At the same time, central banks have not finished their stimulus policy, which supports the rise of most financial assets, especially the stock market and some assets that enhance the value of the risk spirit.

NVIDIA is the world's largest company by market value

The upside potential in the stock market looks promising, especially with some companies hitting record highs that seem unlikely to stop in the medium term. For example, Nvidia shares have seen exceptional growth this year, a growth that is expected to maintain its accelerating momentum amid estimates of the company’s ability to maintain an accelerated growth rate in graphics processing units. Its market value has tripled to briefly surpass Apple as the most valuable company in the world, with a market value of about $3.53 trillion, ahead of the technology giant Apple. Its net income rose from about $2.3 billion in the first half of 2022 to about $31.5 billion for the same period in 2024.

Microsoft ranked third with a market value estimated at about $3.19 trillion, followed by Alphabet with a market value of about $2.04 trillion. Meanwhile, Apple’s stock was affected by downward pressure after Warren Buffett-led Berkshire Hathaway announced a major sale of part of its stake in the company. link   

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Listen To Lee Greenwood’s New Rendition of ‘God Bless the U.S.A.’ .......................

https://www.youtube.com/watch?time_continue=194&v=SrMftm6Km3g&feature=emb_logo

John Wayne & Celebrity Ensemble - God Bless America...........

https://www.youtube.com/watch?v=Z1ga0y7cwSo

MilitiaMan & Crew News Reporting-IRAQ-USA-Financial Inclusion up 48%-Money Inside & Out of Iraq-Electronic Cards

MilitiaMan & Crew News Reporting-IRAQ-USA-Financial Inclusion up 48%-Money Inside & Out of Iraq-Electronic Cards

11-10-2024

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=Z0rFigZmq9w

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 11-10-24

Good Afternoon Dinar Recaps,

‘WE WON THAT CASE LAST SUMMER’: RIPPLE CEO OPENS UP ABOUT TRUMP, GENSLER AND XRP LAWSUIT

In recent days, Ripple’s XRP has been making headlines. However, its progress is being hindered by an ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).

CEO Brad Garlinghouse discussed Donald Trump’s support for cryptocurrency, where Trump has positioned himself as a “crypto advocate” during his campaign. Trump has even stated that one of his first actions if elected president would be to remove Gary Gensler, the SEC chairman, who has taken a tough stance against crypto.

Global Crypto Regulations vs. U.S. Approach
In an interview with BBC, Brad points out that many countries like the UK, Switzerland, and Singapore have embraced crypto by creating clear regulatory frameworks.

This has allowed the crypto industry to grow, attracting entrepreneurs and capital. In contrast, the U.S. government, particularly under the Biden administration, has been more hostile toward crypto, creating challenges for the industry..

What a Win Would Mean for Crypto?
Brad talked about the ongoing legal battle between Ripple and the U.S. SEC. Ripple has been fighting the SEC over whether XRP should be classified as a security. Last summer, a judge ruled that XRP is not a security, but the SEC is appealing the decision, though they are not challenging the ruling on XRP itself.

Brad stressed the need for clearer regulations in the U.S. While Bitcoin and XRP have some regulatory clarity, many other cryptocurrencies, like Ethereum and Solana, remain in a “gray area.” 

This lack of clarity makes it difficult for the industry to move forward. Brad advocates for clear, well-defined regulations—similar to those in the UK or Japan—so that the crypto industry can follow the rules without fear of uncertainty.

SEC’s Role in Crypto Regulation
He criticized the SEC under Gary Gensler for trying to regulate crypto through enforcement actions rather than creating formal, clear rules. He argues that cryptocurrencies, unlike traditional securities, do not provide ownership rights or governance rights, so they should not be classified as securities.

@ Newshounds News™

Source:  CoinPedia

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CHARLES HOSKINSON BREAKS SILENCE WITH FOUNDATIONAL MODEL OF CARDANO BLOCKCHAIN

Cardano founder Charles Hoskinson recently returned to social media with a compelling message that outlines his vision for Cardano and its potential. In his first major tweet since a brief hiatus, Hoskinson described Cardano as "a decentralized ecosystem of blockchain technology, smart contracts, and community governance committed to improving economic, political, and social systems for everyone, everywhere."

Hoskinson went on to outline Cardano's role as a foundational infrastructure designed to empower individuals and communities to "manage their identity, value, and governance," and foster the emergence of decentralized applications, businesses and network states.

This marks one of Hoskinson's first posts on X since Nov. 3, when he announced that he would be taking a week-long social media break to celebrate his birthday and enjoy time "off-grid." His return brings a renewed sense of purpose and focus on Cardano’s mission, reflected in his first tweets.

The Cardano community has reacted positively to Hoskinson’s statement, seeing it as a reaffirmation of the project's goals and values. What happened? Hoskinson previously lamented growing criticisms toward him and the Cardano ecosystem.

Amid this and with one user implying that Hoskinson might be Cardano's cancer, the founder decided to poll the community.

In the survey, Hoskinson asked if he was a "cancer" for Cardano. The poll received 50,501 votes at press time, with 51.6% agreeing that Hoskinson was Cardano's "cancer" and 48.4% saying the Cardano founder was not to blame for the ecosystem's challenges.

Apparently dismayed by the results of the poll, Hoskinson decided to take a break from X throughout the week, stating he wanted to disconnect and meditate. In a Nov. 3 post, Hoskinson made known his decision saying "It's going to be a lot of fun disconnecting and meditating.

On the other side, I'm going to have a different approach to social media and how I communicate to the Cardano ecosystem. I suspect I'll use X a lot less and will emphasize more productive and curated mediums. I will miss the daily interactions and spontaneity of things, but it's honestly become too toxic."

@ Newshounds News™

Source:  U Today

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🌱 WHAT IS THE IRON TO GOLDEN AGE?  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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Economist’s “News and Views” Sunday 11-10-2024

Gold And Silver Are Sound Money: Why It Scares The Fed | JP Cortez

Lynette Zang: 11-10-2024

n Today's Video we are talking with Jp Cortez who is the Executive Director of the Sound Money Defense League, a nationally renowned policy group known for its fervent commitment to advocating for a stable and constitutional monetary system.

So very excited to have JP on

https://www.youtube.com/watch?v=eOL4teoXClg

Unexploded Bombs In Banking System | Rick Rule

Liberty and finance:  11-9-2024

Legendary investor Rick Rule provides a stark outlook on the financial system, warning of the dangers posed by government debt, inflation, and the unsustainable promises made by social programs like Social Security.

He explains how institutions such as banks are facing severe financial strain due to mismatches in their portfolios—long-dated fixed-rate obligations funded by short-term deposits—exposing them to the risks of rising interest rates.

Rule also highlights the precarious future facing retirees, especially those relying on Social Security, as inflation erodes the value of nominal benefits.

 With the U.S. government’s rising debt and unfunded liabilities, he cautions that the real value of future benefits will diminish, leaving many retirees unprepared. Ultimately, he stresses the importance of individuals taking control of their financial futures, acknowledging the challenges while emphasizing resilience and proactive planning.

INTERVIEW TIMELINE:

0:00 Intro

2:03 Government mismanagement

 17:07 Currency devaluation

24:40 Election & US dollar

34:35 Metals vs miners

40:00 Banking system

48:00 Battle Bank

https://www.youtube.com/watch?v=ZKAqE7gBVqk

"You MUST PREPARE Now..." - Adam Taggart

LifeWorthLiving:  119-2024

Adam Taggart, host of thoughtful money, discusses the current uncertainties in financial markets and the importance of shifting from passive to active investment strategies. Taggart emphasizes that high volatility, shifting inflation trends, and evolving bond markets signal that traditional passive strategies may no longer be effective.

https://www.youtube.com/watch?v=tGaHM7YshsQ

Seeds of Wisdom RV and Economic Updates Sunday Morning 11-10-24

Good Morning Dinar Recaps,

NORWAY SUPPORTS MICA, CONSIDERS CBDC FOR FINANCIAL STABILITY

Norges Bank backs the EU’s MiCA regulation while considering a CBDC to enhance cross-border payments and support financial stability in Norway.

Norges Bank, Norway’s central bank, has endorsed the European Union’s Markets in Crypto-Assets Regulation (MiCA) as the country evaluates the potential adoption of a central bank digital currency (CBDC).

Kjetil Watne, project director for Norges Bank’s CBDC project, said in an interview with Cointelegraph that Norway, as a member of the European Economic Area (EEA), welcomes MiCA’s framework. However, he noted that the bank is still considering “whether additional regulations are necessary to promote financial stability.”

Watne explained that Norges Bank has “not yet decided” if it will issue a CBDC and is assessing how to “mitigate regulatory gaps related to decentralized finance.”

Supporting MiCA and CBDC implementation
As part of the EEA, Norway closely aligns with EU regulations, including MiCA, which Watne said is “under public review and currently being assessed by the Ministry of Finance.”

According to Watne, Norges Bank considers CBDCs potentially useful for cross-border payments but that “it remains to be seen how a CBDC-based cross-border payment system would look.”

In 2023, the bank participated in “Project Icebreaker,” a trial exploring new architectures for retail CBDC transactions across borders. Watne added:

“We believe that an eventual CBDC will, if issued, will supplement and not replace cash. We also believe that digital currencies will continue to exist in parallel with CBDCs.”

Addressing privacy concerns
According to Watne, Norges Bank has taken a measured stance on privacy concerns related to CBDCs, recognizing that digital payments “will leave digital taxes.”

He emphasized that Norges Bank “is not responsible for monitoring individual payment transactions” and noted that most central banks, including Norges Bank, do not plan to access customer CBDC payment details or account balances.
“Norges Bank’s analyses assume that this will be the path also for Norges Bank. As with other forms of payment, it will be necessary to ensure that relevant rules are complied with, for example anti-money laundering rules.”

Does MiCA pose “systemic” banking risks?
The EU’s MiCA regulation is set to take full effect on Dec. 30 and could introduce “systemic risks” to the banking sector, particularly for stablecoin reserves, according to Tether CEO Paolo Ardoino.

Under MiCA, stablecoin issuers will be required to hold a significant portion of their reserves, at least 60%, in European banks, creating a cause for concern when it comes to loans.

Ardoino explained that, due to banks’ ability to loan up to 90% of their reserves, the risks posed by MiCA regulatory requirements could create significant points of vulnerability for reserves if a bank holding them goes bankrupt.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

ANALYST: EUROPE IS SECRETLY PREPARING FOR A RENEWED GOLD STANDARD

Jan Nieuwenhuijs, an expert in gold markets, believes he has found evidence that Europe is preparing to adopt a new standard. He states that the recent movements of several Eastern European countries—purchasing or selling gold to reach a determined ratio—are part of the actions leading up to this development.

Analyst: Countries in Europe Equilibrating Gold Reserves to Adopt a Common Standard
Countries in Europe are getting ready to back their currency, at least partially, with gold. Jan Nieuwenhuijs, an expert in the movement of gold markets that follows central bank purchases, has found evidence that this is happening coordinately, even though central banks publicly deny it.

The root of this common understanding would be the 1999 Washington meeting that produced the Central Bank Gold Agreements, in which 15 central banks inked a pact to coordinate their gold sales and maintain a stable metal market.

On this agreement, Nieuwenhuijs stated:

For those paying close attention, it was obviously meant to equalize gold reserves among countries relative to GDP.

To justify his allegations, Nieuwenhuijs reports that the recent purchases from countries like Poland, Hungary, and the Czech Republic were directed to equilibrate their gold reserve to GDP ratio to the ones held by countries in the Eurozone. This is supported by statements made by Poland’s former Minister of Finance Konrad Raczkowski, directly commenting on these numbers.

Raczkowski assessed that Poland should purchase 120 tonnes of gold to reach the ratio maintained by several other countries in the Eurozone, 4% GDP. He declared:

It seems that in the near future, this will be the new gold standard for the entire eurozone. These reserves will have to be adjusted to the size of the economy.

Nonetheless, Nieuwenhuijs reports that, even with all the evidence surrounding these coordinated moves, central banks have continuously denied there is some kind of harmonization behind these exchanges. “Countless Freedom of Information (FOI) requests submitted throughout Europe, directed at central banks and Ministries of Finance, all yielded nil,” he stressed.

However, he has sometimes received negative answers to these petitions, with the Central Bank of Belgium stating that this information was “confidential,” obeying a central bank law that commanded the institution to maintain a “legal obligation of secrecy.”

In August, Nieuwenhuijs alleged that China, which had stopped purchasing gold according to reports, was secretly growing its reserves to take advantage of the price cool-off.

@ Newshounds News™

Source:  Bitcoin News

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🌱 FIRST SPACEX STARSHIP LAUNCH SINCE 'CHOPSTICKS' CATCH: HOW TO WATCH  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

 ~~~~~~~~~

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“Tidbits From TNT” Sunday Morning 11-10-2024

TNT:

Tishwash:  Prime Minister's Advisor Announces US Treasury Support Mechanisms for Iraq

Today, Sunday, the Prime Minister's Advisor, Mazhar Mohammed Salih, announced the mechanisms of the US Treasury's support for Iraq since 2003, while he indicated the continuation of consultations with the US Treasury regarding combating money laundering.

Saleh told the Iraqi News Agency (INA): "The cooperation and coordination between Iraq and the US Treasury extends back to the first years since the change of the former regime," indicating that "the Treasury played an important supporting role in supporting the Paris Club Agreement in 2004 concerned with writing off Iraq's debts called pre-1990 debts, and the presence of Treasury representatives in the Paris Club Agreement Secretariat helped ensure the writing off of 80% or more of the former regime's debts."

“The US Treasury succeeded in supporting infrastructure financing in Iraq through the conference held in the Spanish capital Madrid on October 23-24, 2003. Its primary goal was to mobilize financial support for the reconstruction of Iraq after the US-led invasion in 2003.

Seventy countries and international organizations participated in the conference,” he added, explaining that “the conference was able to collect pledges amounting to about $33 billion, but a large part of these amounts was in the form of loans or technical support, and not all of it was direct financial aid.”

He explained that "the US Treasury contributed to establishing the Iraqi payments system in 2006 through a direct technical agreement with the Central Bank of Iraq to establish a wholesale payments system between the Central Bank on the one hand and the banks and the government in transferring funds and settling them electronically on the other hand, in addition to entering the era of settling bank checks electronically as well, which are matters in financial technology that are being introduced for the first time in our country

Noting that "from the history of the important assistance provided by the Treasury, it has played an important role in replacing the local, fast-forgery edition of the dinar that was issued during the nineties siege in the largest campaign witnessed by Iraq between late 2003 and early 2004 with the international edition of the dinar, according to the highest international technical specifications."

He stressed that "since the signing of the Strategic Framework Agreement in 2008 until today, there have been continuous consultations between representatives of the financial and monetary authorities in our country and the treasury to cooperate in combating money laundering and the proceeds of crime and terrorism in a manner that achieves governance and compliance for our financial and banking system as well as its optimal integration into the global financial and economic climate link

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Tishwash:  Al-Sudani and Czech Ambassador discuss developing relations with the European Union and stopping the war in Gaza and Lebanon

Prime Minister Mohammed Shia Al-Sudani discussed with the Czech Ambassador to Iraq, Jan Schneidov, the necessity for the European Union countries to work to pressure towards stopping the war in Gaza and Lebanon, stressing the importance of delivering urgent relief and humanitarian aid.

 Al-Sudani's media office stated in a statement received by {Al-Furat News} that "the latter received the new Czech Ambassador to Iraq, Jan Schneidov, where he congratulated him on assuming his duties in Iraq. During the meeting, bilateral relations between the Czech Republic and Iraq were discussed, in addition to ways to develop them in various fields, in a way that achieves common interests." 

Al-Sudani stressed the "importance of the European Union countries working to pressure to stop the war on Gaza and Lebanon," stressing the "need to deliver urgent relief and humanitarian aid to limit the serious repercussions caused by the war on the region and the world."  link

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Tishwash:  Article 140 dispute resolved.. Nineveh announces readiness for census day and refutes fears

Nineveh Governorate, northern Iraq, is preparing to conduct a general population census on November 20 and 21, in the first census to be conducted in the country since 1997 .

The population census issue represents a thorny political issue in Iraq, more than it is an organizational procedure, due to its connection to the election process and the quota system on which the political process in Iraq is based after the American invasion .

The total number of Iraqis living inside the country is estimated at about 43 million people, while the number of Iraqis abroad is more than six million, distributed across about 40 Western and Arab countries .

The Ministry of Planning confirms that the aim of the census is to establish a correct and real database on the population to ensure the fair distribution of resources and financial dues to all governorates, in addition to relying on census data in future development programmes.

The ministry points out that the general population census will not deal with the issue of the sectarian, national and religious affiliation of Iraqis, in a new indication that the citizen will not be asked about his sectarian affiliation, which is considered a positive step in the view of Iraqis who oppose the procedures for establishing sub-identities in Iraq .

Fears in Nineveh

Although the census seeks to achieve development goals, political parties in Nineveh have raised some concerns about including disputed areas and displaced people from the province in the census data for the Kurdistan Region .

In this context, Ahlam Al-Kakai, a member of the House of Representatives for Nineveh Governorate, warned against including villages from Nineveh Governorate in the Kurdistan Region in the population census process that will begin next month .

Al-Kakai told Shafaq News Agency, "Some villages in Al-Hamdaniya district in Nineveh, especially the Kakai and Arab villages, were included in the population census in Dohuk Governorate ."

She pointed out that she had communicated with the local authorities in Nineveh and the Statistics Department in Nineveh to find out the reason for including areas of Nineveh in the region in the census, indicating that these authorities had confirmed that this procedure had come in an organizational and administrative manner in agreement between the Iraqi Ministry of Planning and the Kurdistan Regional Government, and that including areas of Nineveh in the census to the region represents a dangerous step and may pave the way for more dangerous subsequent steps, according to her .

Hosting the wallets

These concerns prompted the provincial council to host Nineveh Governor Abdul Qader Al-Dakhil and Nineveh Statistics Director Nawfal Suleiman to discuss these concerns. Provincial Council member Marwan Al-Taie confirmed the council’s rejection of the deployment of Kurdistan Region statistics teams in the disputed areas within the administrative borders of Nineveh Governorate .

Al-Taie told the agency, "The council hosted the governor of Nineveh to verify the information indicating the deployment of census teams affiliated with Kurdistan   in the villages and areas of Nineveh located within the disputed areas that are under the control of the Kurdish forces ."

He added: "The Nineveh Statistics Directorate confirmed that its teams will be deployed in all disputed areas within the administrative borders of Nineveh, and that there is coordination between the Iraqi Ministry of Planning and the Kurdistan Regional Government regarding work in areas under the control of the Peshmerga forces, which are administratively affiliated with Nineveh Governorate ."

Disputed

In contrast, Nineveh Governor Abdul Qadir Al-Dakhil announced that all areas affiliated with Nineveh Governorate, according to the administrative borders that were adopted before April 2003, will be included in the census and within the data specific to Nineveh Governorate, and not within the data of the Kurdistan Region .

Al-Dakhil told Shafaq News Agency, "Nineveh has obtained the first place in Iraq in conducting the experimental population census," stressing the readiness of the census teams to complete the national census mission on the twentieth and twenty-first of this month. He pointed out that there will be a holiday and a curfew on the census days, calling on the people to cooperate with the census teams in order to accomplish development matters in the governorate and all of Iraq .

Al-Dakhil stressed that Nineveh has been subjected to great injustice and oppression throughout the past years due to the failure to conduct a population census, indicating that the official data of the Iraqi state has proven the population of Nineveh to be less than 3 million people, while the real number may exceed five million, indicating that this has had a negative impact on Nineveh and its budgets from the federal government .

Regarding the disputed areas, Al-Dakhil confirmed that there is joint coordination between the Iraqi government and the Kurdistan Regional Government to conduct a population census in the disputed areas in Nineveh Governorate .

He stated that "all the inventory, numbering and census operations that are taking place in the disputed areas will be recorded in the data of Nineveh Governorate," indicating that those areas will include all the lands within the administrative borders of Nineveh before April 2003 .

Displaced people from Sinjar

Regarding the displaced people from Nineveh, especially the Yazidi component displaced from Sinjar district to the Kurdistan Region, Al-Dakhil confirmed that the population census process will prove their residence within their original areas and not in the areas to which they were displaced. He pointed out that the displaced people’s form for the census will include a box about the original place of residence to confirm the areas of the displaced people, especially from Sinjar .

Joint coordination

However, the Nineveh Council member for the Kurdistan Democratic Party, Ahmed Al-Kiki, confirmed that the census work in the disputed areas is being carried out in coordination between the Iraqi government and the Kurdistan Region, while he explained that the statements of some officials, representatives and members in Nineveh reflect their lack of knowledge of the cooperation taking place between Baghdad and Erbil in this regard .

Al-Kiki told the agency, "There is great coordination between the Federal Statistics and Geographic Information Systems Authority and the   Statistics Authority in the Kurdistan Region, to discuss the joint preparations underway to implement the general population and housing census scheduled to be conducted on the twentieth of this November ."

Al-Kiki added: "The purpose of the census is clear to everyone, which is to draw a clear picture of the reality of the situation in order to develop plans, policies and economic and investment strategies to advance the reality of development and improve the level of services provided to citizens." He pointed out that the talk of some members of the Nineveh Provincial Council are ill-considered statements that have no connection to the reality that reflects the strength and solidity of the great cooperation between the central and regional governments .

Ready to set up

Regarding the preparations for the census process, the Director of Nineveh Statistics, Nawfal Suleiman, announced the readiness of the statistics teams in the governorate to conduct the general population census process on November 20 and 21 .

Suleiman said in a statement to Shafaq News Agency: "His department was able, in a short period of time, to prepare approximately 11 thousand people to participate in the national census campaign in Nineveh," adding that "the census teams have completed 97 percent of the enumeration and numbering work, and it is scheduled to complete the enumeration and numbering of buildings within the next two days in the remaining areas located in the Hatra district."

He concluded by saying: "900,000 buildings were counted and numbered in Nineveh, while 1.1 million were counted in Baghdad and 600,000 in Basra. This is evidence that Nineveh is still ahead of many governorates in population." link

Mot.. Happy Veterans Day

Mot: ..... but - it Did!!! 

Iraq Economic News and Points To Ponder Saturday Afternoon 11-9-24

The Dollar Is Falling Quietly In Baghdad And Erbil At The Beginning Of The Week.. Will The Decline Continue?

Economy  | - 09/11/2024  Mawazine News – Baghdad  The dollar prices fell slightly in the markets of Baghdad on Saturday, and in Erbil, the capital of the Kurdistan Region, with the closing of the stock exchange.

The dollar prices fell with the closing of the Al-Kifah and Al-Harithiya stock exchanges to record 150,600 Iraqi dinars per 100 dollars, while this morning it recorded 150,750 dinars per 100 dollars.

The selling prices in the exchange sector also stabilized in the local markets in Baghdad, where the selling price reached 151,750 Iraqi dinars per 100 dollars, while the purchase price reached 150,750 dinars per 100 dollars.

In Erbil, the dollar also recorded a decline, as the selling price reached 150,500 dinars per 100 dollars, and the purchase price reached 150,400 dinars per 100 US dollars. https://www.mawazin.net/Details.aspx?jimare=256482 

In 5 Days.. The Central Bank Of Iraq Sells More Than A Billion Dollars
economy | 04:25 - 09/11/2024   Mawazine News – Baghdad  The total sales of hard currency (US dollar) by the Central Bank of Iraq during the past week exceeded one billion dollars, during the days in which the auction was opened.

The Central Bank also sold during the past week, and for five days from the opening of the auction, an amount of one billion, 169 million, 32 thousand, and 884 dollars, at a daily average of 233 million, 806 thousand, and 577 dollars, down from the previous week, which amounted to one billion, 396 million, 679 thousand, and 335 dollars.

The highest sales of the dollar were on Thursday, where sales amounted to 301 million, 400 thousand, and 898 dollars, while the lowest sales were on Sunday, where they amounted to 282 million, 64 thousand, and 798 dollars.

Foreign remittance sales during the past week amounted to one billion, 122 million, 432 thousand, and 884 dollars, an increase of 96% compared to cash sales, which amounted to 46 million, 600 thousand dollars.   https://www.mawazin.net/Details.aspx?jimare=256479

Gold Prices Rise In The Capital Baghdad

Money and business  Economy News – Baghdad  Gold prices in the wholesale markets on Al-Nahr Street in Baghdad witnessed an increase, as the selling price of one mithqal of Gulf, Turkish and European gold, 21 carats, was recorded at 566 thousand dinars, while the purchase price was recorded at 562 thousand dinars.

The selling price of one mithqal of 21-karat Iraqi gold was 536 thousand dinars, and the buying price was 532 thousand dinars.

As for prices in goldsmith shops, the selling price of a mithqal of 21-karat Gulf gold ranged between 570,000 and 580,000 dinars, while the selling price of a mithqal of Iraqi gold ranged between 540,000 and 555,000 dinars. https://economy-news.net/content.php?id=49640  

Oil Prices Post Weekly Gains.. Brent To $73.87

Energy   Economy News - Follow-up  Oil prices fell more than 2% at settlement on Friday as concerns about prolonged supply disruptions from Hurricane Rafael in the Gulf of Mexico eased, while China's latest economic stimulus package failed to lift some oil traders' mood.

Brent crude futures fell $1.76, or 2.3%, to settle at $73.87 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell $1.98, or 2.7%, to $70.35.

Energy producers shut more than 23% of oil production in the U.S. Gulf of Mexico on Friday in preparation for Hurricane Rafael, Reuters reported.

But the latest forecasts for Hurricane Rafael's path and intensity have reduced the risk the hurricane poses to oil production.

Meanwhile, investors were left frustrated after China launched a new package of financial support measures on Friday, announcing a package that would ease debt repayment pressures on local authorities.

Despite falling on Friday, oil prices rose more than 1% on a weekly basis, supported by expectations that the administration of President-elect Donald Trump may tighten sanctions on Iran and Venezuela, which could limit their supplies to the global market.

The US Federal Reserve cut interest rates by a quarter of a percentage point on Thursday, which helped lift oil prices by more than 1% in the previous session.https://economy-news.net/content.php?id=49630

Faw Port And Development Road Revenues Equivalent To 6% Of Oil Income
November 9, 2024:  Baghdad - Qusay Munther  Basra - Amjad Nasser 
An economic expert confirmed that the Grand Faw Port and the development road will constitute a huge economic transformation by 2038, as they will contribute revenues exceeding 6 percent of oil revenues. He pointed out that this achievement, supported by the completion of the first phase of the port, enhances Iraq's position as a regional trade link and opens new horizons for diversifying the national economy.

Expert Nabil Al-Marsoumi wrote in a post on his Facebook page yesterday that (the complete completion of the five berths and the near completion of the first phase of the Grand Faw Port project is a step in the right direction to diversify the Iraqi economy and provide job opportunities, with the project to be completed in its three phases in 2038 with a total capacity of 91 million tons annually, including 67 million tons for containers and 24 million tons for bulk goods).

He stressed that (according to the data of the General Company for Iraqi Ports, the Grand Faw Port will achieve revenues of more than two trillion dinars in 2038, in addition to more than 4 trillion dinars from the development road, which is equivalent to about 6 percent of Iraq's oil revenues). Prime Minister Mohammed Shia al-Sudani had previously determined the completion rates of the main projects in the Grand Faw Port in Basra Governorate.

During the ceremony to receive the five berths of the Grand Faw Port from the Korean company implementing the work, al-Sudani indicated that (his government faced major challenges in starting to implement the vital development road project), stressing that (the Grand Faw Port project will transform the historical geographical situation of Iraq).

Development path

A statement from his media office received by Al-Zaman yesterday continued, saying, “Al-Sudani conducted a sea tour to view the basic projects in the Grand Faw Port, accompanied by the Minister of Transport, Razzaq Muhaibis, the Governor of Basra, Asaad Al-Eidani, a number of representatives and advisors, and the Director General of the Ports Company. He began with the five docks, the handover ceremony of which he sponsored.

He then viewed the other projects, represented by the container yard and the dock wall, which has reached 100 percent completion. He then moved to the submerged tunnel, which has reached 58.47 percent completion, and is considered one of the most important development road projects.”

He added that "Al-Sudani inspected the work on the navigation channel, which is 77.41 percent complete, as well as the ongoing work on the road linking Faw Port and the expressway, which represents the beginning of the strategic development road.

The progress rate on the road has reached (92.42 percent). For his part, the Director of the General Company for Iraqi Ports, Farhan Al-Fartousi, confirmed the docking of 3 large ships at the five berths at Faw Port that were received. Al-Fartousi said in a statement yesterday that (the Faw Port project consists of 5 projects with their infrastructure, and the symbolic project in it is the five berths that were delivered)."

Pointing out that (the docking of 3 large ships on these docks has proven to the world Iraq's seriousness in completing the Faw Port project), stressing that (the five projects in Faw Port complement each other, and are represented by the five docks project, which will be followed by the container yard project, then the main road,

fourthly the submerged tunnel, and fifthly the navigation channel, and all of them will be completed by the end of 2025), he continued by saying that (one of the projects is the road project linking the entrance to Faw Port to the international highway, extending from the entrance to the port, passing under the Khor Al-Zubair Canal through the submerged tunnel to Highway No. 1 in the city of Safwan and via two bridges, and has reached a completion rate of 92 percent.

Economic sanctions

It will be completed next May, and the completion rate of its bridges has reached 98 percent, and the entire project will be completed next May.) On the other hand, economic journalist Salam Zidane ruled out the imposition of new economic sanctions by the United States of America on Iraq.

Zidane expected in a statement yesterday that “the United States will not impose economic sanctions on Iraq in the coming period, especially at the beginning of next year, and perhaps it will adopt a new mechanism for transferring dollars through American banks, by canceling the platform and relying on correspondent banks.”  LINK

Private Banks Association: Financial Inclusion Rate Rose To 48%

Banks  Economy News – Baghdad  The Association of Private Banks announced today, Saturday, the increase in the percentage of financial inclusion for electronic payment during the last two years.

The Executive Director of the Private Banks Association, Ali Tariq, said in a statement to the official agency, which was followed by “Al-Eqtisad News”: “During the last two years, there has been progress in terms of increasing financial inclusion and the use of bank accounts, especially after the government decisions regarding increasing the use of electronic payment.”

He pointed out that "there are many citizens who have bank cards or bank accounts, and the use of electronic payment is increasing clearly and gradually, and all of this is reflected in the financial inclusion rate, which has risen according to the latest data from the Central Bank to reach 48%."

He added: "Our ambition in the next phase is for financial services to increase and be directed not only to city centres but also to villages and rural areas so that there are financial services that include the largest possible segment of society."

Yesterday, Friday, Prime Minister Mohammed Shia Al-Sudani issued several directives to expand the scope of financial services in the governorates.

The Prime Minister's Media Office stated 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, Prime Minister Mohammed Shia Al-Sudani directed a number of steps to be taken in this regard:

1. 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.

2. 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.

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

4. Enhancing financial inclusion in the governorates by providing banking services to different segments of society, including districts and sub-districts in villages and rural areas.

5. 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.

6. Organizing workshops to train young entrepreneurs and local businessmen on how to deal with loans and financial services.

He added, "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."https://economy-news.net/content.php?id=49631

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

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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Thank you Dinar Recaps

“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.