Could Trump End the Federal Reserve System?

Could Trump End the Federal Reserve System?

Palisades Gold Radio:  11-13-2024

In a recently aired episode of Palisades Gold Radio, host Tom Bodrovics welcomed back Christopher Aaron, a well-respected figure in the world of precious metals and founder of iGold Advisor. With the dust settling post-U.S. election and the Federal Reserve’s recent meeting, Aaron’s insights into the market sentiment surrounding gold provide both clarity and caution for investors looking to navigate this complex environment.

The episode delves into the immediate responses from investors regarding gold, as various factors—including election outcomes and Federal Reserve policies—begin to shape market perception. Aaron emphasizes the importance of understanding market cycles and where gold currently stands.

Amidst the uncertainty, Aaron advises against abandoning precious metals entirely. Unforeseen circumstances can arise, making gold a valuable hedge against volatility. As market conditions evolve, the historical resilience of gold has shown that it often serves as a safe haven during turbulent times.

Bodrovics and Aaron explore the notable influences of the recently concluded U.S. election and the ongoing Fed meetings. They dissect how the political climate—particularly involving the potential implications of a Trump presidency—affects market dynamics. Importantly, discussions also touch on the Dow to Gold ratio, highlighting how this relationship can indicate broader market trends.

The gold to silver ratio is another focal point of Aaron’s analysis. By examining the trends in this ratio, he provides insights into the potential implications for investors. Historically, silver’s performance can closely relate to industrial demand and economic conditions, which can diverge significantly from gold’s typically more stable value.

The discussion also highlights the potential for significant changes within the government and their relationship with the Federal Reserve. Aaron notes Ron Paul’s long-time advocacy for ending the Federal Reserve System, positing that his presence in a potential Trump administration could signal a deliberate pivot in monetary policy.

The expected timeline for tax cuts and regulatory changes, as discussed in the episode, should prompt investors to consider wider implications as the new administration settles into office.

As the episode winds down, both Bodrovics and Aaron stress the importance of maintaining a holistic view of investments. While precious metals remain crucial, diversifying across various markets can mitigate risk and capitalize on emerging opportunities.

The insights from Christopher Aaron on Palisades Gold Radio serve as a valuable reminder for investors: navigating the current financial landscape requires both acute awareness and flexibility. As election outcomes ripple through the economy and the Federal Reserve makes pivotal decisions, one thing is certain—being informed and prepared is paramount.

 In the world of precious metals and beyond, understanding market cycles and broader economic themes will empower investors to make wise and timely decisions in an ever-changing environment.

https://youtu.be/gOz6mPCpMlk

https://dinarchronicles.com/2024/11/13/palisades-gold-radio-could-trump-end-the-federal-reserve-system/

Seeds of Wisdom RV and Economic Updates Thursday Morning 11-14-24

Good Morning Dinar Recaps,

BLACKROCK EXPANDS TOKENIZED MONEY MARKET FUND BUIDL TO FIVE MORE BLOCKCHAINS

Today Securitize, BlackRock’s tokenization partner, announced that BlackRock’s money market fund, BUIDL, is now available on five additional blockchains. It launched in March on Ethereum and has now expanded to Aptos, Arbitrum, Avalanche, Optimism’s OP Mainnet, and Polygon.

BUIDL is the largest tokenized money market fund on a public blockchain with a market capitalization of $517 million. Ondo Finance has issued its own money market fund backed by BUIDL, so it accounts for $192 million of BUIDL’s balance. While BlackRock has a minimum investment of $5 million, Ondo’s OUSG has a $5,000 minimum and also temporarily waves fees.

Notably, BUIDL has management fees of 50 basis points on most blockchains but it’s only 20 bps on Aptos, Avalanche, and Polygon, with the lower costs subsidized by foundations associated with the blockchains.

“We wanted to develop an ecosystem that was thoughtfully designed to be digital and take advantage of the advantages of tokenization,” said Securitize CEO and co-founder Carlos Domingo. “Real-world asset tokenization is scaling, and we’re excited to have these blockchains added to increase the potential of the BUIDL ecosystem.

With these new chains we’ll start to see more investors looking to leverage the underlying technology to increase efficiencies on all the things that until now have been hard to do.”

In October Securitize integrated with Zero Hash to allow digital asset firms to use USDC to buy BUIDL and keep their funds on-chain. For some time the USDC stablecoin issuer Circle has said it stands ready to buy BUIDL funds for USDC, allowing investors to exit their investment whenever they like. On a related point, we previously explored why asset managers might want a shared stablecoin.

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

RIPPLE NEWS: XRP DOCUMENTARY TO ‘BLOW OPEN THE SEC LAWSUIT AGAINST RIPPLE’; FIRST REVIEWS OUT

The highly anticipated XRP documentary, “XRP Unleashed/ Rigged from the Start”, has officially premiered in Scottsdale, Arizona, drawing significant attention in the crypto world. The film explores the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC).

Fans of the XRP saga can look forward to more opportunities to watch the documentary, as plans for a second screening tour in other cities are under consideration. For those unable to attend in person, the film will be available for streaming on the official website starting November 21.

First Reviews Out:
A user named Jeremy Quintanilla took to X and wrote, “Don’t miss @Fruition_Films XRP Unleashed! #XRPArmy What a f...ing amazing story that blows the story open the SEC Lawsuit against @Ripple.”

 Ray Fuentes said, “The #XRPUnleashed premiere in Scottsdale was a success! Big congrats to @Fruition_Films and everyone involved in creating this impactful documentary. Major bombs were dropped!”

XRP Price Hints at Big Rally
XRP has recently reacted to a key support zone that has been closely watched for months. This support area has been significant since July 2023, and the price has dipped into this zone a few times already, including in July, August, and November. This pullback is part of a larger corrective pattern, and it looks like XRP is now testing this support again.

The key target for XRP remains a price range between $1.26 and $1.99, and the next critical level to watch is around the 66-70 cent mark. If XRP stays below this level, it could continue to show bearish momentum. However, a breakout above this level could signal a shift toward a more bullish outlook.

Currently, XRP is attempting a move higher, but the price action has been weak and uncertain. If this upward move continues, it might be part of a larger corrective structure, with a possible pullback before another rise. The ultimate target, if the upward trend continues, is between 83.8 cents and $1.17, based on key Fibonacci levels.

@ Newshounds News™

Source:  Coinpedia

Also watch the trailer here:
RIGGED FROM THE START, EXPOSING THE SEC'S WAR ON CRYPTO, Trailer  |  Youtube 

~~~~~~~~~

🌱 MONEY #CONSTITUTION #SOVEREIGNTY #MONEY  |  Youtube

with Mason --  Ask questions here:  The Constitution Intel history and more

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

“Tidbits From TNT” Thursday Morning 11-14-2024

TNT:

Tishwash:  Financial inclusion and banking restructuring

The current government 's interest in the banking sector has become striking to the point that it can be said that the government is actually undertaking the "financial inclusion program, whose founders aim to deliver services to all regions of the country and include all societal and age groups with these services with the aim of encouraging all citizens to open bank accounts, and then withdraw the cash mass hoarded by the public, which the Central Bank estimates at about 70 percent of the issued cash, and circulate it in the banking arena activities, with the aim of raising credit rates and contributing to creating real development.

On this basis, the Prime Minister's Office's statement came in this regard recently, which referred to some of the challenges facing the efforts to reform the financial and banking system, as one of the priorities of the government program, while the statement identified a number of steps with the aim of confronting these challenges and ensuring the strengthening of confidence in the financial and banking sectors, facilitating the process of economic development, and raising indicators of financial inclusion.

However, the clear intersection between the government's direction and the banking restructuring program indicates a number of observations that are directly related to these steps, such as the contradiction between what was stated in the content of these government steps, and the banks' procedures regarding restructuring, as some government banks have taken steps The issue of restructuring, which was apparently limited to the merger of large numbers of branches of operating government banks, included branches on the outskirts of governorate centers and in the middle of them, which undermined the service area in which these banks operate.

This completely intersects with the financial inclusion program, one of the tools of which the statement specified is “providing banking services to different segments of society, including districts and sub-districts in villages and rural areas.”

The steps mentioned in the statement, which are in the process of intensifying efforts, did not indicate the issue of the conditions previously set regarding raising the capital rates of banks to about 450 billion dinars by the end of December 2024, which obligated all private and government banks in this regard, otherwise these banks will be merged or liquidated, if we know that some government banks whose many branches have been merged still have a large number of branches, and these branches still provide their daily services to large numbers of the public, while they are exposed to merger or liquidation

Even some administrations are unable to make some decisions related to developing services, because they realize that the fate of their banks will end in merger or liquidation, and this is what makes the intersection clear in the government's direction regarding developing the performance of banks and expanding the scope of services with the restructuring program implemented by the relevant authorities. link

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

Tishwash:  IMF praises positive developments in Iraq in financial and banking aspects

The International Monetary Fund praised, on Wednesday, the positive developments witnessed by Iraq in the financial and banking aspects .

A statement by the Presidency of the Republic received by "Mil" stated that "President of the Republic, Abdul Latif Rashid, received today, Wednesday, at his residence in the Azerbaijani capital, Baku, the Director of the International Monetary Fund, Kristalina Georgieva, as part of His Excellency's participation in the United Nations Climate Conference  (COP29)."

He added, "During the meeting, the cooperation relations between Iraq and the International Monetary Fund and ways to enhance them in the context of supporting the development path in Iraq were reviewed. During the meeting, His Excellency the President of the Republic stressed Iraq's endeavor to implement integrated programs and plans to stimulate the economy and support the financial and banking reform process ."

Rashid thanked the International Monetary Fund for what it did to support Iraq's budget during the crises it faced and overcame, stressing the "importance of completing coordination and joint cooperation in order to continue efforts to combat corruption, support investment, and develop the private sector, leading to building a strong, cohesive, and recovering economy ."

For her part, Kristalina explained that "the primary mission of the International Monetary Fund is to provide support to countries' budgets during crises, and this is what the Fund did with Iraq during a difficult period, but it overcame it," praising "the positive developments that Iraq witnessed in the financial and banking aspects and in the field of stimulating the investment environment, which contributed to a decrease in the inflation rate, growth in the non-oil GDP, and implementation of controls that contribute to combating money laundering."   link

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

TNT: Among them is the population census.. Revealing the details of Al-Sudani’s visit to Kurdistan

Political analyst Ali Al-Baydar confirmed, today, Wednesday (November 13, 2024), that Prime Minister Mohammed Shia Al-Sudani's visit to Kurdistan includes 5 files.

Al-Baydar said in an interview with Baghdad Today that "Al-Sudani's visit to Kurdistan aims to mediate between the Kurdish parties, with the aim of forming the next Kurdistan government, in addition to the file of the general population census, and reassuring the Kurds about the concerns they have."

He added, "The other file is the Turkish efforts to revive peace with the Kurdistan Workers' Party, the Sinjar issue, and the implementation of the agreement with Iran regarding the presence of Iranian opposition parties within the borders of the region."

Al-Baydar pointed out that "the Kurds are a key player and an important partner in the political process, and everyone is trying to win their favor, and Al-Sudani deals as a statesman, and comprehensively with the issues of the homeland, with the region or even the files within Kurdistan."

Prime Minister Mohammed Shia al-Sudani arrived in the Kurdistan Region of Iraq today, Wednesday (November 13, 2024), on a visit that includes the cities of Erbil and Sulaymaniyah.

The visit comes within the framework of the federal government's efforts to enhance cooperation with the Kurdistan Regional Government, and find solutions to issues affecting the relationship between the region and the central government.  link

Member: . Helpful Hint on Cooking Ur Turkey This Year!!!

Mot: ...... Just Saying glad Im not a turkey

Iraq Economic News and Points to Ponder Wednesday Evening 11-13-24

What Did Iraq Achieve In Its Meetings With The US Treasury, And Did It Succeed In Controlling The Sale Of The Dollar?

 Economy  2024-11-12 | 4,949 views   Alsumaria News – Economic   The Central Bank of Iraq announced progress in the procedures for controlling external transfers and cash dollar sales and providing protection for the banking and financial sector from the risks of money laundering operations, following the ongoing discussions of the Central Bank of Iraq with the Federal Bank and the US Department of the Treasury.

 The bank’s governor, Ali Al-Alaq, said in press statements,

“The ongoing quarterly meetings with the Federal Reserve Bank and the US Treasury Department within the framework of organizing operations and coordination between the two sides, which have close relations, led to agreement on procedures and formulas that are consistent with best practices and international standards, the latest of which was the plan related to organizing operations.”

External transformation through rebuilding it according to new standards and methods.” Al-Alaq stressed that

"Iraq has achieved 95% progress with regard to procedures for controlling external transfers, cash dollar sales, and providing protection for the banking and financial sector from the risks of money laundering operations."

 In July 2023, the US Treasury Department imposed sanctions on 14 banks, preceded by months of similar sanctions that included 4 other Iraqi banks after they were accused of money laundering.

 The Iraqi government, through the Central Bank of Iraq, has been continuing its negotiations for about two years with the US Treasury Department to lift sanctions on these banks, all of which are private banks.  

 https://www.alsumaria.tv/news/economy/506135/ماذا-حقق-العراق-باجتماعاته-مع-الخزانة-الأميركية-وهل-نجح-بالسيطرة-على-ب    

The International Monetary Fund Praises The Development Of Financial And Banking Aspects In Iraq

 November 13, 2024  Baku / Iraq Observer follow-up  Kristalina Georgieva, Director of the International Monetary Fund, today, Wednesday, during her meeting with the Iraqi President, Abdul Latif Jamal Rashid,

 praised the positive developments that Iraq has witnessed in the financial and banking aspects and in the field of stimulating the investment environment.

 The Presidency of the Republic stated in a statement received by “Iraq Observer,” that

 “Rashid received, at his residence in the Azerbaijani capital, Baku, Kristalina Georgieva, Director of the International Monetary Fund, as part of his participation in the United Nations Climate Conference (COP29).” During the meeting,

 they “reviewed the cooperation relations between Iraq and the International Monetary Fund and ways to strengthen them in the context of supporting the development path in Iraq,” where the President of the Republic affirmed during the meeting that

 “Iraq

    is seeking to implement integrated programs and

    plans to stimulate the economy and

    support the financial and banking reform process. He also thanked the IMF.”

“The international community for what it did to support Iraq’s budget during the crises it faced and overcame.”  The President of the Republic also stressed

 “the importance of completing coordination and joint cooperation in order to continue efforts to

      combat corruption,

     support investment, and

     develop the private sector in order to

     build a strong, cohesive, and recovering economy.”

For her part, Crystalina explained that

 “the main mission of the International Monetary Funds is to provide support to countries’ budgets in times of crises, and

this is what the Fund did with Iraq during a difficult period, but it overcame it, and

she praised the positive developments that Iraq witnessed in the financial and banking aspects and in the field of stimulating the investment environment.”   https://observeriraq.net/صندوق-النقد-الدولي-يشيد-بتطور-الجوانب/    

Financial Inclusion And Banking Structuring

 Economical 11/13/2024  Muhammad Sharif Abu Maysam  The current government’s interest in the banking sector has become remarkable to the point where it can be said that the government is actually undertaking the “Financial Inclusion Programme,” which

 those in charge of it aim to deliver services to all regions of the country and include all societal and age groups with these services with the aim of encouraging all citizens to open bank accounts, and then Withdrawing the public’s hoarded cash mass, which the Central Bank estimates at about 70 percent of the issued cash, and circulating it in the activities of the banking arena, with the aim of raising credit rates and contributing to creating real development.

On this basis, the Prime Minister’s Office recently issued a statement in this regard, which pointed out some of the challenges facing efforts to reform the financial and banking system, as one of the priorities of the government programme, while the statement identified a number of steps with the aim of confronting these challenges and ensuring the strengthening of confidence in the financial and banking sectors. Facilitating the economic development process and raising financial inclusion indicators.

However, the clear intersection between the government’s approach and the banking restructuring program indicates a number of observations that are directly related to these steps, such as the contradiction between what was stated in the content of these government steps, and the banks’ procedures regarding restructuring, as

 some government banks have taken great steps in The issue of restructuring, which appears to have been limited to the merger of large numbers of operating government bank branches, which included branches on the outskirts of the governorate centers and in their centre, which undermined the service space in which these banks operate, and

this completely intersects with the financial inclusion program, which determined Al-Bayan is one of its tools by "providing banking services to different segments of society, including districts and sub-districts in villages and rural areas."

 The steps mentioned in the statement, which are in the process of intensifying efforts, did not refer to the issue of the conditions that were previously set regarding raising bank capital rates to about 450 billion dinars by the end of December 2024, which obligated all private and government banks in this regard.

Otherwise, these banks will be merged or Liquidation,

 if we know that some government banks, many of whose branches have been merged, still have large numbers of branches, and these branches still provide their daily services to large numbers of the public, while they are vulnerable to merger or liquidation, so that some departments are unable to take some Decisions related to developing services, because they realize that the fate of their banks will end in merger or liquidation, and

 this is what makes the intersection clear in the government’s approach regarding developing the performance of banks and expanding the scope of services with the structuring program implemented by the relevant authorities. https://alsabaah.iq/105828-.html     

Iraq Is Recording 4% Economic Growth And Moving Towards Sustainable Diversification

 Economical 11/13/2024  Baghdad: Shukran Al-Fatlawi    The increase in growth in the Iraqi economy by 4% reflects the beginning of a positive shift towards sustainable economic diversification.

 According to International Monetary Fund forecasts, this growth reflects the country's efforts to reduce dependence on non-renewable natural resources and shift to an economy that relies on other sectors.

 Specialists consider that the development project initiated by the government represents a qualitative step towards restructuring the national economy.

They point out that this project includes developing a strong infrastructure, developing the industrial and agricultural sector, in addition to attracting foreign and local investments, which will enhance Iraq's ability to face future economic challenges. In this context, experts point out that

 Iraq has already begun implementing some of the recommendations of international conferences, such as the Munich Conference and other economic forums held in Washington and Riyadh, as the government seeks to attract international companies and enhance the role of the private sector in the economy.

The government's approach to multi-pronged development programs is part of a comprehensive strategy aimed at transforming the Iraqi economy from one that relies mainly on oil to one Diverse and sustainable.

 Development Plan

 The expert in economic affairs, Dr. Adnan Bahia, in an interview with “Al-Sabah,” explained that the

 World Bank, in its adoptions regarding Iraq, depends on a large number of important factors, the most important of which is the existence of the development plan for the next five years, which it prepared in a way that guides the development process in Iraq, which is being implemented. Through it, the dispersed development trends are limited to one correct direction.

 Government Programme

 Bahiya promised the existence of an ambitious government program for the past years and the current year that achieves a large number of achievements, the

 most important of which is the work to complete the files of lagging projects, as their number has decreased by more than half, pointing out that this is a good indicator for growth.  He noted that the

Economic Process

 stability of oil prices, even in light of the unstable political and security atmosphere in the Middle East and the world, where prices range from 70 to 80 dollars per barrel, encourages the continuation of the economic process in the country, since the Iraqi economy depends on oil for 95 percent of its capabilities and revenues. He hinted that the

 current policies in the field of combating corruption and returning looted and smuggled funds out of Iraq are important, especially if those funds are exploited to create an advanced industrial, agricultural and service base that will transform the country. In the right direction.

Advanced Ranks

 Economic affairs researcher, Suhad Al-Shammari, told “Al-Sabah” that the

 International Monetary Fund’s reports confirm that Iraq ranks highly in the Arab world in terms of expected economic growth, amounting to 4 percent, ahead of Morocco, Kuwait, Bahrain, Oman, Algeria, Jordan, and Qatar. Al-Shammari attributed

Correct Planning

 the reason for this to the role of the state and the current government in proper management and planning to enhance the growth of the economic sector and protect the local market from the economic fluctuations that are plaguing the region, as well as providing the Iraqi citizen’s requirements for social welfare salaries and a food basket, which made a clear difference in protecting the local market from fluctuations. Exchange rate. She continued that the

 investment and service projects that began with the government curriculum and directly with the current government by launching them and the international conferences, in which I participated, including the Munich and Riyadh conferences, brought Iraq back to the global platform. She added that

 Foreign Investments

 Iraq is an important geopolitical player, possessing the potential to secure foreign investments and joint cooperation between Iraqi and foreign private sectors, stressing that

 the country is capable of finding a substitute for oil and has all the solid economic components, as evidenced by the efforts of most countries to contribute to important projects, including the development project, which is considered a transition. Quality in the Iraqi economy.     https://alsabaah.iq/105827-.html

Economist: Oil Pollution In The Tigris River Is Causing Iraq Huge Losses

 November 13 20:45  Information/special..   Economist Nabil Al-Marsoumi confirmed on Wednesday that Iraq has suffered major financial losses as a result of oil pollution in the Tigris River.  Al-Marsoumi said in an interview with the Maalouma Agency,

 “Oil pollution and hospital waste in the Tigris River, as well as pollutants emanating from brick factories and oxidized asphalt, lead to great damage at the level of health, agriculture, livestock, and fish deaths.

 It also damages drinking water and the air, forcing Iraq to... To spend huge sums of money to purify water and combat pollution in all cities of the country. He added,

 "Iraq is among the rare countries in the world that do not count environmental costs, while studies are supposed to be conducted on this subject and the transition to a green economy is encouraged."

 Over the past few years, cases of oil pollution have been repeated in the Tigris River, leading to the cutting off of drinking water to some areas, the death of fish, and the damage to crops that rely on river water for irrigation. Ended 25 B  

 https://almaalomah.me/news/82514/economy/خبير-اقتصادي:-التلوث-النفطي-في-نهر-دجلة-يكبد-العراق-خسائر-كب   

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

Seeds of Wisdom RV and Economic Updates Wednesday Evening 11-13-24

Good Evening Dinar Recaps,

RADIAN USES R3’S CORDA DLT TO SMOOTH REAL ESTATE TITLE TRANSFERS

US mortgage and real estate service firm Radian has integrated R3’s Corda enterprise blockchain with its Titlegenius offering. The workflow system for real estate title transfers uses DLT for document storage and data transfer. Rather than a black box, it provides transparency around the title transfer process and claims to cut closing costs by an average of 25%.

Radian has a market capitalization of more than $5 billion, although mortgage insurance is its primary revenue source rather than title services.

Title transfer services typically check the history of the property to ensure there are no surprises. They are not just verifying that the seller is the true title holder, but that there are no longer mortgage or other liens against the property. They frequently provide title insurance just in case they missed something.

Once that’s done, the final deed of transfer is drafted and the transaction proceeds to closing and settlement. The process can include various parties, such as the buyer, the real estate agents, mortgage providers and lawyers. By creating a transparent workflow using DLT, all parties can get an up-to-date record of the status of the transaction.

“The title transfer process is notoriously slow and complex, and we are excited to collaborate with R3 to make this process simpler and more efficient for our clients,” said Steven Stipetich, Radian’s Senior Vice President of Title. “There are many valuable use cases for DLT in the property space like bulk refinancing – already supported by the titlegenius platform.”

Coadjute also uses Corda for real estate sales
Corda is also used by UK property technology firm Coadjute, which does something similar to Titlegenius.

However, its software provides the glue to share data between different real estate software solutions used by the estate agents of the buyer and seller. Corda was incorporated into Coadjute’s software since its founding in 2018. The startup’s backers include UK banks such as Lloyds, Natwest and Nationwide.

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

XRP DOCUMENTARY REVEALS RIPPLE-SEC INSIDE STORY: WHEN AND WHERE TO WATCH

▪️XRP documentary exposes Ripple's fight with the SEC; streaming starts November 21.

▪️Second screening tour planned, potential Florida showings to be announced soon.

▪️Ripple CEO absent, but documentary promises exclusive insights and expert commentary.

The wait is over!

Ripple’s highly anticipated documentary, Rigged from the Start: Exposing the SEC’s War on Crypto, is about to premiere, bringing fresh insights into the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC).

If you’re eager to understand the full story behind XRP’s legal fight, here’s when and where to catch this revealing film.

Screening Details to Know
The debut of the documentary took place in Scottsdale, Arizona, and was organized by Fruition Productions, a Los Angeles-based film and gaming studio. 

The documentary was initially titled “XRP Unleashed,” but it was later changed to “Rigged from the Start” to make it more relatable to a broader audience who might not be familiar with XRP.

Meanwhile, the new title focuses on the SEC’s controversial actions against XRP and its impact on the crypto space.

Audience Demand Grows
Following its Scottsdale debut, Fruition Productions has taken the documentary to seven cities across the U.S., and demand has been so high that more screenings are planned for December.

For those unable to attend a live screening, don’t worry. The documentary will be available to stream on Fruition Productions’ official website starting November 21. There may also be additional screenings in Florida, with updates expected soon.

Meanwhile, the trailer is available to watch on YouTube.
What to Expect from the Documentary
The “Rigged from the Start” documentary offers an exclusive look at the Ripple-SEC conflict, featuring insights from key crypto figures, legal experts, and industry leaders.

Although Ripple CEO Brad Garlinghouse chose not to participate in the film, the documentary still promises to deliver exclusive content and offers a fresh perspective on the fight against the SEC’s regulatory actions.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

RIGGED FROM THE START, EXPOSING THE SEC'S WAR ON CRYPTO, Trailer  |  Youtube

@ Newshounds News™ 

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

The Fed's Dangerous Path: Ron Paul Reveals the Truth Behind U.S. Monetary Collapse

The Fed's Dangerous Path: Ron Paul Reveals the Truth Behind U.S. Monetary Collapse

Kitco News:  11-13-2024

The Federal Reserve's unchecked power and fiat currency system are under fire as Ron Paul, former U.S. Congressman and Host of @RonPaulLibertyReport calls for major reforms.

Paul argues that the Fed’s authority is unconstitutional, contributing to spiraling national debt, rising inflation, and systemic economic instability.

He highlights how the Fed’s influence, under Jerome Powell, operates without true oversight, posing a direct threat to economic freedom in the United States.

Paul also shares his thoughts on Elon Musk's Department of Government Efficiency (DOGE) initiative, supporting the idea of cutting government waste.

However, he stresses that real reform needs to go deeper—such as dismantling the Federal Reserve and adopting sound money like gold.

Warning of an inevitable financial crisis if reliance on fiat currency continues, Paul predicts that gold could double, triple, or even quadruple in value as more people seek refuge from the weakening dollar.

00:00 Coming Up

 01:38 Introduction

02:24 Jerome Powell's Controversial Statement

03:16 The Federal Reserve's Unchecked Power

 07:03 Trump's Influence on Fed Policy

 07:28 The Role of the President in Monetary Policy

09:09 The Need for Auditing the Federal Reserve

10:25 Public Backlash Against the Federal Reserve

18:11 Elon Musk and Vivek Ramaswamy's Department of Government Efficiency (DOGE)

24:32 Dr. Ron Paul's Views on Gold

https://www.youtube.com/watch?v=BRgheZiR1EA

Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 11-13-24

Good Afternoon Dinar Recaps,

UK LIKELY TO ISSUE DIGITAL GILTS WITHIN THE NEXT TWO YEARS – REPORT

Yesterday, state-owned French development bank Caisse des Dépôts et Consignations (CDC) issued a €100m ($108m) digital bond settled using the Banque de France’s DL3S DLT platform using its pilot wholesale central bank digital currency (wCBDC).

The transaction formed part of the European Central Bank’s wholesale DLT settlement trials which are due to end this month.

The Banque de France avoids using the term wholesale CBDC, instead referring to it as a tokenized representation of central bank money.

For the CDC issuance, it required synchronizing the issuance of the digitally native note (DNN) on Euroclear’s D-FMI platform with the settlement on the central bank’s DL3S. The DNN was issued in bearer form under French law.

“Choosing (the) Banque de France’s full DLT interoperability solution for settling the cash leg of this issuance stresses the importance of tokenised Central Bank Money for the development of the tokenisation of finance,” said Emmanuelle Assouan, Director General Financial Stability and Operations at Banque de France.

“The operation, performed under CSDR, allowed (the) Banque de France to enrich its connectivity solutions by setting-up a new interoperability link between the 2 DLTs, on top of the HTLC and SWIFT protocols.” 

HTLC refers to a Hashed Timelock Contract which is an escrow-like mechanism in which the money is locked on one DLT, and the asset on the other. If the money is not claimed during the timelock period, the locks can be released.

Euroclear and the central bank worked together on the interoperability solution.

BNP Paribas’ Securities Services was the issuing agent for the transaction, with Crédit Agricole CIB and Natixis CIB as dealers.

Paris Europlace, the French association that supports the Paris financial market, created a working group of banks and asset managers to help in coordination.

ECB trials and France’s DL3S
Meanwhile, the French pilot CBDC solution has been used for some other digital bond issuances. They include a €30 million sovereign bond issued by Slovenia and a small ABN AMRO commercial paper issuance. There were also several other DL3S experiments that involved simulations.

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

SEC APPROVES COINCHECK AS FIRST JAPANESE CRYPTO EXCHANGE ON NASDAQ

Coincheck is set to make history as the first Japanese crypto exchange to list on Nasdaq, following SEC approval.

Coincheck, a cryptocurrency exchange headquartered in Tokyo and a subsidiary of Monex Group, is expected to become the first to debut on the Nasdaq Global Market as early as Dec. 10.

On Nov. 13, the United States Securities and Exchange Commission approved the exchange’s application to list on the Nasdaq.

The move, set to occur through a merger with Thunder Bridge Capital Partners (TBCP), marks the first time a Japanese crypto exchange will be listed on a US stock exchange.

The merger with TBCP, a special acquisition purpose company (SPAC), will enable Coincheck to remain a consolidated subsidiary of Monex Group after the listing. It could also encourage other Japanese exchanges to pursue similar moves.

SEC application approval
The SEC’s approval follows the Japanese crypto exchange’s filing of a Form F-4 registration statement on Nov. 7, which became effective on Nov. 12.

With the SEC green light, TBCP can now proceed to hold a shareholder vote on Dec. 5 to approve and finalize the business combination, a necessary step for the listing to proceed.

If the shareholders vote in favor, the merger with TBCP will close, and Coincheck is set to be officially listed on the Nasdaq as soon as Dec. 10, trading under the ticket CNCK.

Nasdaq listing implications
The planned Nasdaq listing would be a significant development for Japan and the US. If the merger is finalized, it will deepen global market integration, potentially inspiring other Japanese crypto exchanges to pursue listings in international markets.

The listing could attract more international crypto firms to American markets for the US, reinforcing the country’s expected pro-crypto regulatory stance under President-elect Donald Trump’s incoming administration.

SEC influence over crypto
The SEC has shaped crypto in the US through its rigorous oversight of digital assets, exchanges and firms, including issuing multiple Wells notices.

Consensys CEO Joe Lubin, in an interview with Cointelegraph at Devcon 2024 in Thailand, criticized the SEC for restricting innovation in the crypto industry.

Consensys also issued an open letter to the next US president, calling for supportive regulations for crypto and Web3 — a sentiment Lubin echoed at Devcon 2024, where he expressed hope for a smooth transition in SEC leadership.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

 Republic |  Youtube

with Mason 

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

Iraq News Highlights and Points to Ponder Wednesday AM 11-13-24

Central Bank Announces Progress In Dollar Control Procedures

Central Bank of Iraq  Banks  Economy News – Baghdad  The Central Bank of Iraq announced progress in monitoring foreign transfers and cash dollar sales and providing protection for the banking and financial sector from the risks of money laundering, following the ongoing discussions of the Central Bank of Iraq with the Federal Reserve and the US Treasury Department.

The bank's governor, Ali Al-Alaq, said in statements to Al-Hurra website, followed by Al-Eqtisad News, that "the ongoing quarterly meetings with the Federal Reserve and the US Treasury Department within the framework of organizing operations and coordination between the two sides, which have close relations, led to an agreement on procedures and formulas that are consistent with best practices and international standards, the latest of which was the plan related to organizing foreign transfer operations by rebuilding them according to new standards and methods."

Al-Alaq added, "Iraq has achieved 95% progress in terms of monitoring procedures for foreign transfers and cash dollar sales, and providing protection for the banking and financial sector from the risks of money laundering operations."

The Iraqi government, through the Central Bank of Iraq, has been continuing its negotiations for about two years with the US Treasury Department to lift sanctions on some private banks operating in Iraq. https://economy-news.net/content.php?id=49759

Financial Inclusion And Banking Restructuring

Economic  2024/11/13  interest in the banking sector has become striking to the point that it can be said that the government is actually undertaking the "financial inclusion program, whose founders aim to deliver services to all regions of the country and include all societal and age groups with these services with the aim of encouraging all citizens to open bank accounts, and then withdraw the cash mass hoarded by the public, which the Central Bank estimates at about 70 percent of the issued cash, and circulate it in the banking arena activities, with the aim of raising credit rates and contributing to creating real development.

On this basis, the Prime Minister's Office's statement came in this regard recently, which referred to some of the challenges facing the efforts to reform the financial and banking system, as one of the priorities of the government program, while the statement identified a number of steps with the aim of confronting these challenges and ensuring the strengthening of confidence in the financial and banking sectors, facilitating the process of economic development, and raising indicators of financial inclusion.

However, the clear intersection between the government's direction and the banking restructuring program indicates a number of observations that are directly related to these steps, such as the contradiction between what was stated in the content of these government steps, and the banks' procedures regarding restructuring, as some government banks have taken steps

The issue of restructuring, which was apparently limited to the merger of large numbers of branches of operating government banks, included branches on the outskirts of governorate centers and in the middle of them, which undermined the service area in which these banks operate.

This completely intersects with the financial inclusion program, one of the tools of which the statement specified is “providing banking services to different segments of society, including districts and sub-districts in villages and rural areas.”

The steps mentioned in the statement, which are in the process of intensifying efforts, did not indicate the issue of the conditions previously set regarding raising the capital rates of banks to about 450 billion dinars by the end of December 2024, which obligated all private and government banks in this regard, otherwise these banks will be merged or liquidated,

if we know that some government banks whose many branches have been merged still have a large number of branches, and these branches still provide their daily services to large numbers of the public, while they are exposed to merger or liquidation,

 even some administrations are unable to make some decisions related to developing services, because they realize that the fate of their banks will end in merger or liquidation, and this is what makes the intersection clear in the government's direction regarding developing the performance of banks and expanding the scope of services with the restructuring program implemented by the relevant authorities.     https://alsabaah.iq/105828-.html

Iraq Records 4% Economic Growth, Moves Towards Sustainable Diversification

Economic  2024/11/13  The 4% growth in the Iraqi economy reflects the beginning of a positive shift towards sustainable economic diversification. According to the International Monetary Fund’s expectations, this growth reflects the country’s efforts to reduce dependence on non-renewable natural resources and shift to an economy that relies on other sectors.

Experts consider the development project initiated by the government to be a qualitative step towards restructuring the national economy. They point out that this project includes developing a strong infrastructure, developing the industrial and agricultural sectors, in addition to attracting foreign and local investments, which will enhance Iraq’s ability to face future economic challenges.

In this context, experts point out that Iraq has already begun implementing some of the recommendations of international conferences, such as the Munich Conference and other economic forums held in Washington and Riyadh, as the government seeks to attract international companies and enhance the role of the private sector in the economy.

The government’s move towards multi-pronged development programs is part of a comprehensive strategy aimed at transforming the Iraqi economy from an economy that relies primarily on oil to a diversified and sustainable economy.

Development Plan

Economic expert Dr. Adnan Bahiya explained in an interview with "Sabah" that the World Bank in its adoptions for Iraq depends on a large number of important factors, foremost of which is the existence of a development plan for the next five years, which it prepared in a directed way for the development process in Iraq, through which the scattered development trends are limited to one correct direction.

Government Program

Bahiya promised the existence of a government program for the past years and the current year, with the ambition that achieves a large number of accomplishments, foremost of which is working to end the files of stalled projects, as their number has decreased by more than half, noting that this indicator is good for growth.

Economic Process

He noted that the stability of oil prices, even in light of the unstable political and security atmosphere in the Middle East and the world, where prices range between 70 and 80 dollars per barrel, encourages the continuation of the economic process in the country, as the Iraqi economy depends on oil for 95 percent of its capabilities and revenues.

He pointed out that the current policies in the field of combating corruption and returning looted and smuggled funds outside Iraq are important, especially if these funds are used to create an advanced industrial, agricultural and service base that will move the country in the right direction.

Advanced Ranks

Economic researcher Suhad Al-Shammari explained to "Sabah" that the International Monetary Fund reports confirm that Iraq has advanced ranks in the Arab world in terms of expected economic growth, amounting to 4 percent, outperforming Morocco, Kuwait, Bahrain, Oman, Algeria, Jordan and Qatar. "

The Right Planning

Al-Shammari attributed the reason for this to the role of the state and the current government in proper management and planning to enhance the growth of the economic sector and protect the local market from the economic fluctuations that are sweeping the region, in addition to providing the requirements of the Iraqi citizen from social welfare salaries and a food basket, which made a clear difference in protecting the local market from exchange rate fluctuations.

She added that the investment and service projects that began with the government program and directly with the current government by launching them and the international conferences in which it participated, including the Munich and Riyadh conferences, have returned Iraq to the global platform.

Foreign Investments

She added that Iraq is an important geopolitical player, possessing the potential to secure foreign investments and joint cooperation between the Iraqi and foreign private sectors, stressing that the country is capable of finding a substitute for oil and has all the solid economic components, as evidenced by the efforts of most countries to contribute to important projects, including the development project, which is a qualitative shift in the Iraqi economy. https://alsabaah.iq/105827-.html

Seeds of Wisdom RV and Economic Updates Wednesday Morning 11-13-24

Good Morning Dinar Recaps,

STABLECOIN FIRM TETHER PLOWS PROFITS INTO COMMODITY TRADE FINANCE

On Friday Tether, known as the operator of the largest stablecoin, reported its investment division completed its first trade finance transaction in October. It involved providing finance for 670,000 barrels of Middle Eastern crude oil worth around $45 million.

The credit granted was from Tether Investments, a company with $7 billion in equity funded by the profits of the stablecoin firm. Hence, it does not involve the use of stablecoin reserves. However, the Tether stablecoin was used for the payment.

“With USDT, we’re bringing efficiency and speed to markets that have historically relied on slower, more costly payment structures,” said Paolo Ardoino, CEO of Tether.

“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.”

Tether‘s main stablecoin has a current market capitalization of more than $124 billion.

Tether comes out of the shadows
For years there were doubts about whether the Tether stablecoin was fully backed. The company makes out that these concerns are unwarranted.

 However, the New York Attorney General found that Tether misrepresented the status of the stablecoin reserves during 2018 and 2019 and banned the stablecoin from the state as part of a settlement.

During that time, Tether lent $625 million of its reserves (around a third of the total) to sister company Bitfinex exchange, which would have been insolvent without the funds. With the subsequent Bitcoin rally, Bitfinex managed to recover.

However, since Tether recently became enormously profitable earning $7 billion during the first nine months of 2024, that breach of ethics and trust seems to have been forgotten.

In another positive piece of news for Tether, the co-head of Donald Trump’s transition team is Howard Lutnick, the CEO of Cantor Fitzgerald. And Cantor looks after the $100 billion plus in Treasuries and repos that form part of Tether’s stablecoin reserves, making it an important client.

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

BREAKING: CARDANO FOUNDER TEASES POTENTIAL PARTNERSHIP WITH RIPPLE

Cardano founder Charles Hoskinson hints at a Ripple partnership, praising CEO Brad Garlinghouse amid calls for crypto unity and regulatory clarity.

▪️Hoskinson praises Ripple's Garlinghouse, hinting at a potential Cardano-Ripple partnership amid regulatory calls for industry unity.

▪️Nerayoff criticizes Hoskinson's Ripple remarks, accusing him of political motivations and rewriting past controversies.

▪️Ripple-Cardano potential partnership aims to bolster market positions amid regulatory challenges.

Cardano founder Charles Hoskinson has hinted at a potential collaboration with Ripple, sparking excitement across the crypto community.

In a recent post on X (formerly Twitter), Hoskinson praised Ripple CEO Brad Garlinghouse, calling him a “great CEO” and describing their interaction as “extremely collaborative.” This public exchange has fueled speculation that Cardano and Ripple might explore a strategic partnership.

Will Cardano Founder Partner With Ripple CEO?
Cardano founder Charles Hoskinson’s recent comments align with growing calls for collaboration in the cryptocurrency industry.

In his post, the Ripple CEO Brad Garlinghouse was in agreement with this saying that it was time for the crypto community to ‘unite’ to push for a ‘level playing field’ as well as clear regulation. 

He pointed out that the market should have obvious “rules of the road” to create a level playing field for all crypto assets and companies “A rising tide lifts all boats,” Garlinghouse wrote, positing that a unified crypto industry would be beneficial to the whole system.

This message of unity comes at a time when regulatory pressures and market challenges continue to affect the crypto sector. Ripple, in particular, has been embroiled in a long-standing legal battle with the U.S. Securities and Exchange Commission (SEC), a case that many believe could set an important precedent for the industry.

With Hoskinson’s endorsement and Garlinghouse’s call for collaboration, the potential Ripple-Cardano partnership might aim to strengthen both companies’ positions in the market and support regulatory reform efforts.

Steven Nerayoff Blast Cardano Founder Stance
Cardano founder Charles Hoskinson’s positive remarks about Garlinghouse and Ripple reflect a shift from his previously critical stance on XRP and its community. However, not everyone in the crypto community is enthusiastic about this potential partnership. 

Steven Nerayoff, a figure in the blockchain space, has accused Charles Hoskinson of engaging in “damage control” rather than genuine support for Ripple and the XRP community.

He referenced years of perceived hostility from Hoskinson towards Ripple and questioned the timing of Hoskinson’s recent support.

According to Nerayoff, Hoskinson’s remarks signal a “sudden patriotic pivot” that he claims lacks authenticity, suggesting that Hoskinson is motivated by self-interest rather than a true desire to support the industry. He stated,

“Your hollow ‘apology’ to the XRP Community falls flat,”

“Your sudden patriotic pivot and vague ‘Trump Team’ hints reek of desperation,” Nerayoff stated. He argued that Hoskinson’s recent comments are part of a broader effort to “mislead” the public about his role in the crypto community, particularly around key issues like regulation and industry growth.

Accusations of Undermining and Creating Conflict
Nerayoff did not shy away from confrontation and accused Hoskinson of trying to undermine him and Ripple for the past few years. He accused Hoskinson of creating conflict within the crypto industry and spreading “false narratives” to elevate his own projects.

Nerayoff claimed that Hoskinson’s actions have been divisive, and that he has contributed little to the blockchain space other than “pumping his own bags” and fostering animosity.

“You made great efforts to discredit me…Yet it was you who sought my help to make crypto legal,” Nerayoff said, pointing to his early work such as the development of the token utility model and ICO structure which helped to facilitate Ethereum’s growth. He further called Hoskinson as a person who is “free-riding” and a “false prophet” in the blockchain ecosystem.

Charles Hoskinson Highlights Vision for Unity
Hoskinson responded to Nerayoff’s accusations directly, dismissing them in a follow-up post.

“All right, Steve, you just proved everything everyone says about you is true. Best of luck in life,

Concurrently, just hours after expressing admiration for Garlinghouse, he tweeted, “You know what’s unstoppable? When the entire crypto space comes together and unifies to take the industry to the next level.” He continued, “We won’t stop for a rest until there are a billion blockchain users.”

Moreover, Pro XRP lawyer John Deaton has commended the potential collaboration citing a bright future should this milestone be accomplished.

In addition, Ripple CEO Brad Garlinghouse has recently expressed optimism about Ripple’s future, despite the prolonged legal battle with the SEC. In his post, he acknowledged the challenges that Ripple and the XRP community have faced, describing the journey as “frustrating” but expressing hope for “light at the end of the tunnel.”

@ Newshounds News™

Source:  CoinGape

~~~~~~~~~

🌱IS MY MONEY SAFE? WHAT IS GOING ON WITH THE DOLLAR?  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

“Tidbits From TNT” Wednesday Morning 11-13-2024

TNT:

Tishwash:  Private Banks Association: Iraq to adopt advanced trade finance system by end of 2024

The Iraqi Private Banks Association announced, on Wednesday, a move to adopt an advanced trade finance system by the end of the year.

The Executive Director of the Iraqi Private Banks Association, Ali Tariq, told the official agency, which was followed by "Al-Eqtisad News", that "work on the foreign trade financing platform began at the beginning of 2023 and is witnessing significant development," indicating that "it is expected that by the end of the year there will be a transition to another more advanced and accurate system to enhance control over foreign transfers related to trade."

He explained that "the new system will depend on correspondent banks instead of the current mechanisms, as each bank will have the ability to conduct transfers according to its capabilities and possession of correspondent accounts, whether in American banks or other banks that provide transfer services in different currencies."

He added, "This process will remain the same for the public and merchants wishing to transfer, as the requirements will not change significantly, but the accuracy of transfer operations will improve through the activation of control systems and regulations imposed by correspondent banks."

He stressed that "this transformation will increase public confidence in the Iraqi banking sector, as local banks will adhere to the instructions and mechanisms of international correspondent banks, which will enhance work within strict international systems and agreements."  link

Tishwash:  "Thousands of them are suspended" .. Draft laws challenge the remainder of the life of the current parliament

Former MP Hussein Al Aqabi confirmed the existence of thousands of suspended laws that need to be amended and cancelled, while he considered the draft laws an update for what remains of the life of the current parliament.

Al-Aqabi said, during his hosting in the {Free Talk} program broadcasted by Al-Furat satellite channel this evening, that: "We have a problem in the public authorities of the Iraqi state and it is concentrated in the legislative authority in which the form of the political conflict crystallizes and is in the sight and hearing of the public."

He added, "The outcomes of the electoral process since its formation until today do not match the size of the challenges we are experiencing today, especially in parliament, and the political forces do not follow up on their members in the legislative house and there are fundamental problems and important legislation that requires laws of high quality in terms of substance and content."

Al-Aqabi explained that "we have thousands of laws that are not legislated or need to be amended or cancelled and all these challenges go back to competent figures and the internal system must be activated, and Parliament Speaker Mahmoud Al-Mashhadani is supposed to play his pivotal role, especially with regard to the work of parliamentary committees and independent bodies."

He continued, "The vast majority of members of the House of Representatives do not read the budget law and quotas cannot be bypassed, but the most competent must be chosen, while the real estate law has not been presented in detail in the House of Representatives."

Al-Aqabi continued, saying, “According to the statement of Prime Minister Mohammed Shia al-Sudani, there is a desire to change a number of ministers. As for the leaks, some of them were made through simple eavesdropping devices, and others show a political aspect. This is a disregard for the issue of corruption, which makes them public actions that do not require supernatural abilities to uncover them. The reason is that whoever feels safe from punishment misbehaves.”  link

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

Tishwash:  Gold reserves boost confidence in national currency

Baghdad: The pillar of the emirate 

Gold plays a vital role in the monetary reserves of countries for several reasons related to financial stability, hedging against economic risks, enhancing confidence in the national currency, as well as being an effective tool for hedging against inflation. This prompted the Central Bank of Iraq, on several occasions and in successive years, to increase its gold reserves, which reached 148 tons and 305 ounces.  

Regarding the reason that prompted banks to rely on the yellow metal and nothing else, financial expert Mahmoud Dagher explained to “Al-Sabah” that the reason central banks, including the Central Bank of Iraq, increased their purchases of monetary gold is because it is suitable as a reserve compared to industrial gold, indicating that the Chinese Central Bank and the Indian Reserve are among the largest buyers of gold in the world.

Total reserves

Dagher added that the Central Bank of Iraq has increased its gold holdings more than once during the past two years, the last of which was in the first quarter of 2024, until the total gold reserves reached 148 tons and 305 ounces after the last deal in May 2024 by 2 tons and 644 ounces. 

Bank assets

He explained that although gold is not the best asset for generating returns when investing compared to currencies, deposits and securities that are permitted to be acquired within the assets of central banks, it is a haven for balance between other assets whose values ​​are affected by the nature of the economic cycle (recession and inflation), noting that the price of gold decreases during recession and increases during inflation, reflecting its balancing role.

Global trend

He added that gold is also a haven when currencies fluctuate sharply against each other, as happened in the last two years for the ruble, yuan and rupee, and thus reduces the impact of what is called currency risk, pointing out that the Central Bank of Iraq did not deviate from the global trend in buying gold despite the rise in its price accompanying the global wave of inflation that hit major economies until it approached 10%; because the rule of purchasing assets by central banks is based on the principle of buying the asset when its price falls in the hope of selling it when it rises, which did not happen with gold because expectations during the last two years were towards an increase in gold prices in addition to the continued significant fluctuation of currencies among themselves.

Avoid inflation

For her part, the economic affairs specialist, Dr. Ikram Abdul Aziz, said that Iraq is the fourth Arab country in possessing large quantities of gold as an element indicating the soundness of the Iraqi economy, indicating that gold and hard currency reserves become a supportive means and an important framework for hedging and avoiding inflation and rising prices.

Abdul Aziz added, in an interview with "Al-Sabah": Gold and foreign currency work to preserve the value of money and the resulting interest; therefore, countries seek to own large quantities of gold, noting that owning large quantities of gold reserves in light of the current fluctuations, geopolitical changes and the situation of the Iraqi economy is a safe haven to preserve value and hedge against inflation.

Development paths

She explained that the presence of large quantities of gold at the Central Bank of Iraq is an important element in limiting dollar control and reducing instability, noting that Iraq achieved this increase in its gold reserves to serve development paths.

She added that the Central Bank of Iraq has a variety of reserves, including gold, whose stock is an effective means and a basic pillar for maintaining purchasing power, stressing that the presence of strong reserves and their diversity in the investment portfolio of the Central Bank of Iraq is a basic pillar and a factor that limits the rise in prices and hedges against inflation, and thus confidence in the existing economic system is achieved. link

Mot:  Even More ""Marital Tips"" frum da Internet fer Ya!!!

Mot: Granma needs you  

Iraq Economic News and Points to Ponder Tuesday Evening 11-12-24

Iraq on the list.. Arab countries top the 5 largest global oil deals

Iraqi oil refinery  Energy   Economy News -  Three Arab oil-producing countries topped the list of the top 5 oil deals in November.  The United Arab Emirates topped the list of the top 5 oil deals last September, the same month that witnessed a clear decline in global oil prices, which fell from $76 per barrel to less than $69, the lowest level in 3 years.

The list of the five largest oil deals last October included Saudi Arabia, the UAE, and Iraq, in addition to the United States, one of whose companies led a giant deal, while the other deal was on its territory, according to Energy magazine.

The deals completed by the three Arab countries varied between acquisition, sale and purchase, investment in giant oil fields, in addition to establishing important production units.

Saudi Arabia topped the list of the five largest oil deals last October, with an important deal between its two companies, Addis and Aramco, to operate the Addis 13 and Addis 14 platforms, worth 946 million riyals (251.92 million US dollars).

The UAE's ADNOC entered the list of the top 5 oil deals last October, after it was able to complete the acquisition of a significant stake in Fertiglobe, which is the largest marine exporter in the field of petrochemicals, specifically fertilizers and urea.

According to the article published in Energy magazine, an indirect deal pushed Iraq to the list of the top 5 oil deals in October 2024, as Iraq is scheduled to export oil to the Czech Republic. https://economy-news.net/content.php?id=49751

Oil Prices Rebound Again After Days Of Decline

Economy  | 04:57 - 12/11/2024  Mawazine News – Economy  Oil prices rebounded in global markets after days of decline.   The price of a barrel of Brent crude rose about 1%, recording $72.54 per barrel by 4:30 Baghdad time.

The price of a barrel of US crude reached $68.60 per barrel, recording an increase of more than 1%.

Oil prices fell earlier, as the market was affected by investors’ disappointment with the latest Chinese stimulus plan and concerns about oversupply, in addition to the strength of the dollar. https://www.mawazin.net/Details.aspx?jimare=256557

A Significant Decrease In The Dollar Exchange Rate In Local Markets In Baghdad

Economy |12/11/2024  Mawazine News – Economy The US dollar exchange rate witnessed a noticeable decline, Tuesday morning, in Baghdad markets.

The Al-Kifah and Al-Harithiya stock exchanges in Baghdad opened at low prices, recording 150,150 dinars per 100 US dollars, compared to yesterday's price, Monday, which amounted to 150,650 dinars per 100 dollars.

In exchange shops in Baghdad, the selling price of the dollar recorded a decline to reach 151,000 dinars, while the buying price reached 149,000 dinars per 100 US dollars. https://www.mawazin.net/Details.aspx?jimare=256553

Trade: A Monitoring Campaign To Monitor Strategic Stocks And Ensure Price Stability In The Markets

Money and business  Economy News – Baghdad  The Ministry of Commerce announced, on Tuesday, the launch of a campaign to monitor food agents in all governorates and ensure price stability in the markets.

The Director General of the Commercial and Financial Control Department at the Ministry of Trade, Riyadh Al-Moussawi, said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "a wide campaign was launched to follow up on food agents in all governorates," noting that "the campaign came under the direction of the Minister of Trade to ensure price stability and daily monitoring of local markets, including the capital, Baghdad."

He explained that "the number of food agents has reached about 54 thousand agents, and that the Commercial and Financial Control Department continues its daily work according to specific plans and programs, and the campaign focuses in particular on following up on food agents."

He pointed out that "the campaign came before the launch of the eighth food basket, in order to inspect food warehouses and ensure the strategic stock and stock for next year, in addition to addressing any problems or difficulties that agents may face to ensure smooth work." 57 views  Added 11/12/2024 - 4:30 PM  https://economy-news.net/content.php?id=49743

Parliament Speaker Calls For Joint Cooperation And Strengthening Relations Between Iraq And The United Kingdom

Tuesday 12 November 2024 17:03 | Politics Number of readings: 104   Baghdad / NINA / Speaker of the Council of Representatives Mahmoud Al-Mashhadani called for joint cooperation and strengthening relations between Iraq and the United Kingdom.

The media office of the Speaker of Parliament stated: "Al-Mashhadani met in his office today with the British Ambassador to Iraq, Stephen Hitchcock, and during the meeting, congratulations were offered on the occasion of his assumption of the position of Speaker of the Council of Representatives."

Al-Mashhadani discussed with the ambassador the developments in the region and the world that are of common interest.

Al-Mashhadani stressed the necessity of joint cooperation and strengthening bilateral relations in a way that achieves mutual benefit and common interests between Iraq and the United Kingdom.https://ninanews.com/Website/News/Details?key=1168652

Population Census In Iraq: Key To Economic Development And Social Justice

Posted on 2024-11-12 by sotaliraq   Economic expert Taha Al-Janabi stressed the importance of conducting the population census in Iraq on time, noting that it is a vital step to ensure sound and sustainable planning in various economic and social fields.

He explained that “the population census is considered an essential tool for collecting accurate and comprehensive data on the population size and its geographical and demographic distribution, which contributes to improving the quality of public services and directing investments more efficiently.”

The economist said, “The data extracted from the population census provides an accurate knowledge base on population needs in different regions, which helps in directing government resources fairly.”

He added, “This data contributes to determining development priorities for areas with high population density, which may need more investments in infrastructure such as schools, hospitals and transportation.”

Al-Janabi pointed out that “the population census plays an important role in attracting investments, as investors rely on this data to determine target markets and available opportunities in each region, which contributes to stimulating economic growth and providing job opportunities.”

He also pointed out the importance of the census in supporting social support programmes, as it can be used to identify the groups most in need of financial and service assistance, which contributes to improving living standards in the poorest areas.

He stressed that “conducting the population census on time is an important element in sustaining economic growth in Iraq, and contributes to achieving sustainable development goals by providing strategic information that supports decision-making in economic policies and future planning.”

It is noteworthy that Iraq has not conducted a comprehensive population census since 1997, which makes conducting a census in the coming period a necessary step to develop future development policies and achieve economic stability.  LINK

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