Some Iraq News Posted by Clare at KTFA 11-14-2024

 KTFA:

Clare:  Spain confirms cooperation with Iraq to establish Basra-Sharm El-Sheikh railway line

11/14/2024  Baghdad

Spain confirmed, on Thursday, its strong support for Iraq's strong return to the World Trade Organization and its efforts to do so, while indicating that cooperation with Iraq is not limited to railways, but rather in other fields and there are joint projects.

The Director General of International Trade and Investment in the Kingdom of Spain, Elisa Varela, said in a statement reported by the official news agency, and seen by "Al-Eqtisad News", that "there are very good companies in the field of railways, and we are cooperating with Iraq to extend the railway from Basra to Sharm El-Sheikh", noting that "we have a company working on connecting the railway between Najaf and Karbala, and we also have a company working in China that will carry out railway projects in other areas of Iraq in the near future".

She explained that "some of these projects are proposals, and there are signed agreements and cooperation in other areas, including facilitating transportation operations within Iraqi cities and facilitating the traffic situation in a good way so that it runs very smoothly".

She explained that "there are agreements to train Iraqis and sign other agreements that facilitate this aspect", noting that "we strongly support and promote Iraq's return to the World Trade Organization and we seek to do so".   LINK

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Clare:  Kurdistan Minister of Planning: The census that will decide the region’s share of the budget should not be politicized

11/14/2024

The Minister of Planning in the Kurdistan Regional Government, Dara Rashid, stressed on Thursday the necessity of not politicizing the population census scheduled to be conducted in all of Iraq on November 20 and 21, considering that this census will decide the region's share of the budget.

Rashid said in a press conference held today in Erbil, attended by Shafaq News Agency correspondent, that "the population census should not be politicized, and the rights of all other components in Iraq should be preserved," adding, "The decision of the Federal Council of Ministers regarding the census was not in accordance with what we demanded."

He added, "In the shortest time and with the least budget, we completed the necessary preparations to conduct the census," describing the Kurdistan Region's concerns about the census as "constitutional and legal."

Rashid also pointed out that the 1957 census will be the basis for the 2024 census, noting that the 1957 census will preserve the rights of all components.

The Minister called on the people of the region to cooperate in conducting the census, stressing that after the 21st of this month, no one can be registered in the census.

Rashid urged the residents of the areas covered by Article 140 of the Constitution (disputed) to go there and be present during the population census, noting that the Kurdistan Regional Government is providing facilities for the return of the residents of those areas to them during the census.

He went on to say that the population census will determine the region's share of the budget, which was reduced from 17% to nearly 12%, and that the population of the region, which has increased like the rest of Iraq, will become clear, noting that the census will increase Kurdistan's representation in parliament and the rest of the federal institutions and ministries.   LINK

Clare:  The Governor of the Central Bank meets his Turkish counterpart and the directors of some Turkish banks in Istanbul

November 14, 2024

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, and his accompanying delegation met with his counterpart, the Governor of the Central Bank of Turkey, Mr. Fatih Karahan, in Istanbul.

The two parties discussed the launch of new direct mechanisms for trade transfers between Iraq and Turkey, marking the beginning of a new phase in strengthening banking relations between the two neighboring countries.
During the meeting, His Excellency the Governor stressed cooperation in the field of settlements for users of Iraqi cards in Turkey, and urged Turkish banks to open accounts for Iraqi banks to expand financing channels for importing goods and services from neighboring Turkey.

His Excellency added that the Turkish Central Bank supports the steps of the Central Bank of Iraq in organizing financial operations between the two countries in a way that contributes to facilitating trade transactions.

In a separate meeting, His Excellency the Governor Ali Mohsen Al-Alaq and his accompanying delegation met with the general administrations of branches of Turkish banks operating in Iraq, stressing the need to expand fruitful trade options between the two countries, especially in the banking sector.

Central Bank of Iraq
Media Office
November 14, 2024

https://cbi.iq/news/view/2711

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Clare:  Al-Alaq urges Türkiye to open accounts for Iraqi banks

11/14/2024

The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, urged, on Wednesday, Turkish banks to open accounts for Iraqi banks to expand financing channels for importing goods and services between the two countries, stressing cooperation in the field of settlements for users of Iraqi cards in Türkiye.

This came during a meeting between Al-Alaq and the accompanying delegation with his counterpart, the Governor of the Central Bank of Turkey, Fatih Karahan, in Istanbul, according to a statement issued by the Central Bank of Iraq.

The statement said that the two parties discussed the launch of new direct mechanisms for trade transfers between Iraq and Turkey, marking the beginning of a new phase in strengthening banking relations between the two neighboring countries.

The statement quoted Al-Alaq as saying that the Turkish Central Bank supports the steps of the Iraqi Central Bank in regulating financial operations between the two countries in a way that contributes to facilitating commercial transactions.

In a separate meeting, Governor Ali Mohsen Al-Alaq and his accompanying delegation met with the general administrations of the branches of Turkish banks operating in Iraq, stressing the need to expand fruitful trade options between the two countries, especially in the banking sector.  LINK

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

Good Afternoon Dinar Recaps,

MARKET PARTICIPANTS URGE ECB TO EXTEND WHOLESALE DLT TRIALS

For the last six months the European Central Bank (ECB) has been orchestrating wholesale DLT settlement trials using central bank money. More than 70 institutions have taken part, with three different payment options available.

 Today three of the most active participants – Deutsche Börse’s Clearstream, DekaBank and Union Investment – shared their lessons as part of a Frankfurt School Blockchain Center event.

One of the three payment options was the Bundesbank’s Trigger solution, which has its own blockchain that triggers a payment on the Target2 payment system. The Banque de France has its DL3S blockchain that tokenizes central bank cash as a pilot wholesale CBDC.

And the Bank of Italy provided its TIPS Hashlink solution, a lightweight escrow smart contract for the TIPS payment system which requires little infrastructure investment.

All the participants were extremely positive about the trials and keen to see them continue.

The combination of tokenization and central bank money can cut costs, reduce risks and yield efficiencies. Several times they mentioned the potential for a digital capital markets union, as recently discussed by ECB Director Piero Cipollone.

Another consensus was the desire to hear the ECB’s roadmap for next steps before the settlement trials finish at the end of this month.

Calls for the wholesale DLT settlement trials to continue

Clearstream’s Thilo Derenbach and Dekabank’s Michael Cyrus want to avoid losing momentum. Hence, they are both keen to keep the settlement solutions available.

“We would strongly recommend that the ECB does not now close the trial period and wait for many months or possibly years to then proceed with scalable BAU (business as usual) sort of implementation of the payment rails,” said Mr Derenbach.

 “Rather communicate soon to the market how the continued ongoing usage of one, two or three or other payment solutions would be made available. The market is ready.”

Mr Cyrus expressed a similar sentiment, noting that the Bundesbank’s Trigger solution had been around for two years before the trials started. “Now if we have to wait another two or three years, this would be a clear sign that innovation is not coming to the market as quick as we like and I think as quick as the market is ready for,” said Mr Cyrus.

That kind of continuity would allow market players to focus on building out other aspects of the ecosystem, such as secondary markets. He noted that relatively few asset managers were buying the tokenized issuance because of a lack of secondary markets and the need for digital securities to be eligible as collateral for central bank activities. Digital securities should be treated the same as conventional securities.

Ideally he would like to see the Trigger solution remain available. Experimentation with tokenized commercial bank money would also be desirable.

We previously highlighted that German firms dominated the trials which works in favor of the Trigger solution, as opposed to a decision purely on the merits of each option.

Wholesale CBDC in medium term
While all three participants were reluctant to select one solution over others, the Trigger solution came to the fore. Arguably, for a digital capital markets union, broadening the options could be on the cards. We’d note that the Bank of Spain is also developing a solution. Spain’s developer is the technology partner for Fnality, the wholesale tokenized payment solution that is already in production.

All three institutions seemed to envision a wholesale CBDC as the ultimate solution, with the use of existing payment rail integrations such as the Trigger and TIPS Hashlink solutions, seen as more important in the short term.

Union Investment’s Christoph Hock said he’d heard that it would take at least two years for the Banque de France’s wholesale CBDC to go into production.

 “Stablecoins could come into production already in 2025. I think a wholesale CBDC solution by the ECB somewhere in 27/28 potentially wouldn’t be helpful for the market,” he said. 

Hence he suggested a production version of the Trigger solution could be ready in late 2025 or early 2026 and in the meantime work could progress on the wholesale CBDC with the Banque de France.

Mr Hock also observed the important role that the central banks in Switzerland and Singapore have played in making their countries leaders in the tokenization space. 

Switzerland has extended its six month wholesale CBDC pilot for a further two years. He envisions that the Bundesbank in combination with the ECB could launch a world first with a production Trigger solution.

@ Newshounds News™

Source:  Ledger Insights

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RIPPLE VS SEC UPDATE: XRP LAWSUIT TAKES POSITIVE TURN AHEAD OF 2025 TRIAL

▪️XRP News Today: Ripple scores a significant legal victory as a US court rules in favor of Ripple Labs in the ongoing XRP lawsuit, narrowing the scope of class claims.

▪️Ripple Lawsuit Update: Judge Phyllis Hamilton grants Ripple’s motion for final judgment on settled class claims, limiting the case and setting a trial date for January 2025.

▪️The news of Ripple's legal win boosts XRP sentiment, with potential positive effects on XRP price action in the coming months

In the latest development, Ripple has scored a legal victory. In the ongoing In re Ripple Labs Inc. litigation, a US court has ruled in favor of Ripple Labs, XRP II LLC and Brad Garlinghouse.

This is a huge win for Ripple in the long-running case over unregistered securities sales. Judge Phyllis Hamilton granted Ripple’s motion for final judgment on certain class claims, which limits the case and sets up a trial in January 2025.

Key Lawsuit Details
Ripple and the plaintiffs jointly filed a motion seeking final judgment on settled class claims and a pause on remaining claims while appeals are pending. 

Judge Phyllis Hamilton’s order specifically addresses the class action claims related to unregistered securities sales, Ripple’s potential liability as a “control person,” and alleged California securities law violations.

With this ruling, the court has scheduled a trial for January 21, 2025, while pausing previous pretrial deadlines until appeals of the class claims are resolved.

Ripple’s Push for Clarity

Ripple’s request for this final judgment aims to streamline the legal process, clarify remaining claims, and shorten the case’s timeline. The court has also encouraged both sides to consider alternative dispute resolutions, hinting that settlement discussions may be on the horizon in the coming months.

Implications of the Ripple vs SEC Case
The Ripple case has implications for the SEC v. Ripple Labs case where the U.S. SEC is accusing Ripple of violating federal securities laws. Ripple’s win could further enhance the confidence in their stance against the SEC.

Especially after Trump has hinted towards regulatory clarity in the industry, and promised to fire Gary Gensler, the market anxiously awaits an action from the administration. Legal experts and Ripple CTO David Schwartz believe that a dismissal or settlement is possible. Attorney Fred Rispoli had stated that while a settlement appears more realistic, however, a full dismissal might be unlikely.

Gary Gensler To Exit Soon?
While Trump’s inauguration is set for January 20, the pro-XRP attorney James Murphy (MetaLawMan on X) believes Gensler may vacate his post as early as this month. Gensler’s potential resignation and a pro-crypto replacement could fuel a significant market resurgence.

XRP’s price remains closely tied to the regulatory clarity surrounding the token. Attorney Case Darwin agreed with a trader who noted that ‘not owning XRP during this run will be one of the biggest mistakes many will make’. 

He shared that people will not buy it, as the SEC appealed the district court’s decision, in which Ripple won a resounding victory. He emphasized that the BTC hype and its appeal will keep them away. XRP is currently trading at $0.7263, up over 3% in the last 24 hours.

With the stakes higher than ever, Ripple’s victory is more than a win—it’s a turning point for crypto.

@ Newshounds News™

Source:  Coinpedia

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🌱LAND PATENT ALLODIUM #CONSTITUTION #SOVEREIGN  |  Youtube

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

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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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

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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

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“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

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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

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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

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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 

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Source:  Seeds of Wisdom Team RV Currency Facts

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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

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