Seeds of Wisdom RV and Economic Updates Sunday Afternoon 11-17-24

Good Afternoon Dinar Recaps,

RIPPLE IPO ON THE HORIZON? SBI CEO URGES ACTION AS XRP LAWSUIT HEATS UP

XRP surged above $1.20 over the weekend, marking an 87% weekly gain and hitting a three-year high. The rally gained momentum after 18 U.S. states sued the SEC and its chairman, Gary Gensler, accusing the agency of overreaching in its regulation of the crypto industry. This significant development reignited discussions around Ripple’s potential Initial Public Offering (IPO).

With Trump’s win, many speculations are doing the rounds like the Ripple vs SEC case dismissal, IPO, and Stablecoin launch. Since the regulatory matters are at ease, there are chances that Ripple may come with an IPO soon to maximize the current bull run.  

SBI CEO Pushes for Ripple’s IPO

Yoshitaka Kitao, CEO of SBI Holdings, has urged Ripple to start preparing for an IPO “as soon as possible” once its legal battle with the SEC concludes. Ripple has been entangled in a prolonged lawsuit with the SEC, which recently filed an appeal in October. However, many analysts speculate that the SEC’s internal shake-ups could lead to the appeal being dropped, clearing Ripple’s path for a public offering.

Brad Garlinghouse’s Take on IPO Plans

Ripple CEO Brad Garlinghouse has reiterated that while an IPO is not currently a “high priority,” he hasn’t ruled it out entirely. In 2022, he mentioned that Ripple would consider going public after resolving the SEC lawsuit. Though Ripple’s financial stability reduces the immediate need for an IPO, Garlinghouse had earlier envisioned the company going public within a year, a timeline disrupted by ongoing legal challenges.

Ripple Co-Founder Transfers XRP

Amid XRP’s price rally, Ripple co-founder Arthur Britto moved 80 million XRP tokens, with 10 million heading to Binance. This movement has sparked speculation within the community about Ripple’s potential plans, including whether the company is inching closer to an IPO.

Ripple’s Future at a Crossroads
While the IPO discussion gains traction, Ripple remains in a “wait-and-see” mode. The company’s past plans for an IPO were derailed by the SEC lawsuit, but recent legal and market developments may bring the idea back into focus. With regulatory hurdles potentially easing, Ripple’s IPO could mark a historic shift in its trajectory, offering investors a new avenue to engage with the blockchain leader.

In the meanwhile, XRP surged by 25% today, nearing the local resistance level of $1.0739. If buyers maintain momentum, a breakout could push the price to $1.10 and potentially to the $1.15-$1.20 range next week. However, if the weekly candle closes far from this resistance, a correction to the $0.90-$0.95 zone may occur. At press time, XRP trades at $1.0522.

@ Newshounds News™

Source:  Coinpedia

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CRYPTO.COM EXPANDS OFFERINGS WITH ACQUISITION IN AUSTRALIA

Crypto.com has announced its acquisition of Fintek Securities Pty Ltd., a brokerage firm with an Australian Financial Services Licence regulated by the Australian Securities and Investments Commission.

This move allows Crypto.com to broaden its financial product offerings, including derivatives, securities, foreign exchange, and managed investment schemes, to eligible users.

CEO Kris Marszalek highlighted the acquisition as a key step in the company’s mission to create a comprehensive financial services platform that simplifies user experiences and maximizes rewards.

This acquisition marks the second by Crypto.com to enhance traditional brokerage capabilities within its family of companies, following its earlier acquisition of SEC-registered broker-dealer Watchdog Capital, LLC, aimed at expanding its U.S. offerings.

@ Newshounds News™

Source:  Bitcoin News

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SEC CHAIR GARY GENSLER’S BEHAVIOR CANNOT BE CHALKED OFF AS ‘GOOD FAITH MISTAKES,’ SAYS TYLER WINKLEVOSS

Winklevoss believes that Gary Gensler should never be allowed to hold any position of influence to prevent future misuse of government power.

The actions of the U.S. Securities and Exchange Commission (SEC) chair Gary Gensler cannot be “explained away” as “good faith mistakes,” former Olympic rower and crypto exchange Gemini co-founder Tyler Winklevoss wrote in a post on X on Saturday. He added:

“It [Gensler’s actions] was entirely thought out, intentional, and purposeful to fulfill his personal, political agenda at any cost.”

Gensler carried out his actions regardless of consequences, Winklevoss said, calling Gensler “evil.” Gensler did not care if his actions meant “nuking an industry, tens of thousands of jobs, people’s livelihoods, billions of invested capital, and more.”

Winklevoss further stated that Gensler has caused irrevocable damage to the crypto industry and the country, which no “amount of apology can undo.”

Venting his frustration, Winklevoss wrote:

“Americans have had enough of their tax dollars going towards a government that is supposed to protect them, but instead is wielded against them by politicians looking to advance their careers.”

Winklevoss believes that Gensler should not be allowed to hold any position at “any institution, big or small.” He added that Gensler “should never again have a position of influence, power, or consequence.”

In fact, Winklevoss said that any institution, whether a company or university, that hires or works with Gensler after his stint at the SEC “is betraying the crypto industry and should be boycotted aggressively.”

According to Winklevoss, stopping Gensler from gaining any power again is the “only way” to prevent misuse of government power in the future. Winklevoss has long been a vocal critic of the SEC and Gensler, who he believes uses the ‘regulation through enforcement’ doctrine.

Winklevoss is far from being the only one accusing the SEC of abusing its powers. Earlier this week, 18 U.S. states, filed a lawsuit against the SEC and Gensler, alleging “gross government overreach.”

Republican President-elect Donald Trump promised to fire Gensler on his first day back at the White House during his election campaign. The Winklevoss brothers donated the maximum allowed amount per individual to Trump’s campaign.

The SEC is an independent agency, which means the President does not have the authority to fire Gensler. However, Gensler’s term ends in July 2025.

Trump transition team officials are preparing a short list of key financial agency heads they will present to the president-elect soon, Reuters reported earlier this month citing people familiar with the matter. So far, there are three contenders for the list: Dan Gallagher, former SEC commissioner and current chief legal and compliance officer at Robinhood; Paul Atkins, former SEC commissioner and CEO of consultancy firm Patomak Global Partners; and Robert Stebbins, a partner at law firm Willkie Farr & Gallagher who served as SEC general counsel during Trump’s first presidency.

While nothing is set in stone yet, Gallagher is the frontrunner, according to the report.

@ Newshounds News™

Source:  CryptoSlate 

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🌱ORIGINAL DESCRIPTIONS #CONSTITUTION #SOVEREIGNTY  |  Youtube

Mason gives us some history on our Constitution and who we are.  A very important message.

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Some “Iraq News” Posted by Clare at KTFA 11-17-2024

KTFA:

Clare:  Urgent  Parliament Presidency sets date for resuming sessions

11/16/2024

The Parliament Presidency set, today, Friday, the date for resuming sessions next week after the completion of the population census operations in the country.

The media department of the House of Representatives stated in a statement received by {Euphrates News} that "the Presidency of the House of Representatives affirms its full support for conducting the general population and housing census 2024, and urges the representatives to direct and encourage citizens in their areas to cooperate with the field teams affiliated with the Ministry of Planning to accomplish their tasks with the aim of making the census operations that will be conducted on the 20th and 21st of this month a success." 

The statement confirmed, "Given the presence of representatives in their governorates and the importance of the census, it was decided to resume the sessions next week after the completion of the population census operations in the country."   LINK

Clare: Al-Sudani approves 35 new service projects to be attached to 2024 projects

11/16/2024

Iraqi Prime Minister Mohammed Shia al-Sudani approved, on Saturday, adding dozens of new service projects to the 2024 projects in the capital, Baghdad, and other governorates.

This came during his chairmanship of the periodic meeting of the service and engineering effort team, according to a statement issued by Al-Sudani's media office.

The statement said that the meeting witnessed a review of the progress of the projects being implemented by the effort team, and the rates of achievement achieved in them. Approval was also given to 35 new service projects attached to the 2024 projects, which will begin implementation within 10 days in Baghdad and a number of governorates.

The Prime Minister stressed the need to complete the 2024 projects before the end of the year, noting that these projects must be implemented according to high standard technical specifications, in order to provide services to citizens in a qualitative and distinctive manner.  LINK

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Clare:  Industry confirms success by signing 4 investment contracts for strategic industries

11/16/2024 Baghdad

The Ministry of Industry and Minerals announced today, Wednesday, the launch of 256 investment opportunities through three conferences, while confirming the success of signing 4 investment contracts in strategic industries. 

The ministry's spokesperson, Dhuha Al-Jubouri, said in a statement received by "Mawazine News": "The Ministry of Industry held three conferences: the first was the Mineral Investment Conference in Baghdad under the patronage and attendance of the Prime Minister, during which 31 investment opportunities were launched. The second was the Industrial Partnerships Forum in the presence of the Prime Minister, during which 90 investment opportunities were launched. The third was the Baghdad International Forum for Industry and Mining, which was held a month ago, during which 135 investment opportunities were launched. 

" She added, "The ministry's vision regarding conferences is to present private investment opportunities in a transparent manner to the media in the presence of investors, businessmen and investment companies, in order to review all investment opportunities related to the Ministry of Industry and Minerals."

She added, "The submission of offers for these industrial opportunities is by investors, businessmen and investing companies, and the best is chosen after studying the offers," noting that "the ministry succeeded in signing a number of participation contracts on the basis of these conferences that it held in previous periods, and a number of participation contracts were signed for important strategic industries in the presence of the Prime Minister

 Including a contract to establish, rehabilitate and develop a refined sulfur production line in Nineveh Governorate for the Mishraq 1 field with a capacity of one and a half million tons annually of refined sulfur production, and a contract to produce the fertilizer project in Baiji and also Abu Al-Khaseeb fertilizers in Basra Governorate was signed, and a contract was signed for the glass and refractories construction project in Ramadi and the sodium carbonate production project, the foundation stone of which was laid this year with the expansion of the sodium and chlorine plant project in Al-Musayyab district in Babylon."

She stated that "these contracts came as a result of the conferences held by the ministry," explaining that "the offers presented at the last conference are under study and the best of them are being selected."   LINK

Clare:  Advance payment and tax benefits" .. This is how Turkmenistan will export gas to Iraq, the "rare customer"

11/16/2024

The Times of Central Asia reported on Saturday that Turkmenistan has signed what it described as a “binding agreement” for gas shipments to Iraq via Iran, after obtaining Iraq’s approval for an “advance payment plan and tax concessions.”

The newspaper pointed out in a report translated by Shafaq News Agency, the importance that Turkmenistan attaches to the agreement with Iraq, the "new and rare customer" that will import large quantities of gas from this country, which has the fourth largest gas reserves in the world.

The New York-based newspaper's report explained that Turkmenistan is reshaping its options for exporting natural gas, noting that despite its current ranking of 4th in the world, it is currently exporting a smaller quantity of gas than it did 16 years ago.

Mega projects

The report pointed out that the huge gas pipeline projects that were envisioned about 30 years ago, including the pipeline across Afghanistan to supply gas to Pakistan and India, and the pipeline across the Caspian Sea to transport gas to Europe, remain unfeasible for political reasons.

The report added that Russia was previously a major customer of Turkmen gas for most of the past three decades, but Moscow is now competing for some of the same potential buyers as Turkmenistan.

The report said that after Turkmenistan stumbled in its quest to find new markets, it now intends to sell gas to Iraq, by arranging a swap deal with Iran that includes bringing Iranian companies to Turkmenistan to build a new pipeline.

The report pointed out that while Turkmenistan was looking for new customers for gas, Iraq was not a potential buyer of gas until recently, noting that the Nabucco gas pipeline project, which has been stalled for about 15 years, had envisioned Iraq as a potential source of gas to Europe.

Interesting deal

The report described Turkmenistan's deal with Iraq as "interesting, and the only deal available for verification at the present time.

The report explained that since the two countries are not connected by any pipelines, Turkmenistan will ship up to 10 billion cubic meters of gas to Iran, which will in turn ship 10 billion cubic meters of Iranian gas to Iraq.

The report added that Turkmenistan signed what was described as a "binding agreement" for these gas shipments, after obtaining Iraq's approval for "an advance payment plan and tax concessions."

The report stated that about 40% of Iraq's gas imports in recent years came from Iran, indicating that the gas industry in Iraq is still in the recovery phase after years of war, and it needs imported gas to operate power plants in the country, noting that the sanctions imposed on Iran have made it difficult for Iraq to pay financial payments for this Iranian gas.

The report pointed out that there are two pipelines linking the gas fields in Turkmenistan to northern Iran. The first is the 200-kilometre-long Korbeji-Kordkuy pipeline, which was launched in 1997, and the second is the Dowlatabad-Sarakhs-Khanjiran pipeline, which was launched in January 2010.

However, the report explained that Turkmenistan was unable to ship the necessary quantity in the two lines, which have a combined capacity of 20 billion cubic meters. Its exports ranged between 6-8 billion cubic meters annually for years, while Tehran was paying for Turkmen gas through barter, exporting a range of goods, including food and engineering services to Turkmenistan.

The report stated that a dispute arose between the two countries in late 2016, as Turkmenistan claimed that Iran owed it about $2 billion for gas it received in the winter of 2007-2008, while Iran responded by saying that Turkmenistan was working to inflate the price.

The report explained that the winter of that year was extremely cold, which caused a severe shortage of gas in 20 Iranian provinces. Iranian media reported in December 2016 that “Turkmenistan exploited this situation to demand a 9-fold increase in the price, which led to the price rising to $360 from $40 per 1,000 cubic meters of gas.”

The report added that on January 1, 2017, Turkmenistan stopped gas supplies to Iran, and the two countries resorted to international arbitration, a case that was eventually settled in Turkmenistan's favor in June 2020.

The report indicated that Iranian and Turkmen officials are holding talks on gas, but after about 8 years, Turkmen gas exports to Iran have not resumed.

The report pointed out that shipping 10 billion cubic meters of gas from Turkmenistan to Iran requires maintenance and repair operations for the two damaged pipelines linking the two countries.

He added that officials from the two countries held a meeting in July 2024 to sign a gas transportation contract, an agreement that stipulates that “Iranian companies will establish a new 125-kilometer gas pipeline along with three gas pressure booster stations in Turkmenistan with the aim of increasing annual gas shipments to Iran to 40 billion cubic meters.”

According to the report, the Iranian companies participating in the project have not been identified, but this represents an exceptional step by Turkmenistan to allow foreign companies to implement such a project.

The report noted that increasing gas shipments to Iran to 40 billion cubic meters would require the construction of a new pipeline with a capacity of 20 billion cubic meters of gas, which would double the current total capacity of the two existing pipelines. It noted that another unclear issue is that only 10 billion cubic meters of this gas will go to Iraq, while the final destination of the remaining 30 billion cubic meters that Iran plans to import is not clear.

The report concluded that Turkmenistan is trying to sell gas to anyone interested, noting that among the countries mentioned by Turkmen officials as potential customers are Azerbaijan, Turkey, Afghanistan, Pakistan, India, Kazakhstan, and the European Union, but in a vague manner, adding that China is currently the main buyer of Turkmenistan's gas, supplying it with about 35 billion cubic meters of gas.

He pointed out that Russia has significantly reduced its imports of Turkmen gas since 2009, and Russia has also become Turkmenistan's main competitor for regional customers, including Kazakhstan and Uzbekistan, which are neighboring countries of Turkmenistan.

Afghanistan’s gas exports are also unlikely for now due to the lack of foreign investors. Turkmenistan also lacks the infrastructure to export its gas to Europe via Türkiye and Azerbaijan.

The report continued by saying that the 40 billion cubic meters referred to in the recent Iranian-Turkmen agreement could indicate that Iran will buy Turkmen gas again in the future, and in larger quantities than before, adding that the most secure deal that Turkmenistan can reach at the present time to increase its gas exports is the agreement with Iraq.

"It remains to be seen whether this swap arrangement, which includes Iran, can achieve the promised 10 billion cubic meters," he added.   LINK

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Clare:  Al-Alaq: 90% of Iraqi housing projects are funded by the Central Bank with 13 trillion dinar

11/16/2024

The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed on Saturday that 90% of housing projects in Iraq are financed by the bank, and have led to the activation of economic activity in the country, noting that the financing of housing, commercial and investment loans has reached 13 trillion dinars.

Al-Alaq said during his speech at the conference held by Al-Baidar Center for Studies under the title "Transition towards a flexible economy in Iraq", which was attended by Shafaq News Agency correspondent, that "there must be a comprehensive strategy that focuses on policies that create a real partnership between the public and private sectors and move to mobilize economic tools, whether in financial or economic policy."

He pointed out that "one of these tools is the state's general budget, which constitutes a fundamental pillar in determining the paths of the economy and growth and represents a real confrontation with the challenge," indicating that "the absence of planning has become a kind of challenge represented by the fact that flexibility in the spending aspect is limited, and this requires that there be an ability to cover actual and real spending."

He explained that "restructuring the budget is necessary because the state's public spending determines many paths and the shape of the different economic trends and confronts the changes that occur in this framework."

Al-Alaq pointed out that "the recent call by Prime Minister Mohammed Shia al-Sudani to restructure the state ministries and their laws is aimed at addressing the role of the government and ministries and participation in the public and economic sector."

He stressed that "there is talk about resources that could generate revenues for the state, if there was real efficiency and effectiveness in generating revenues, and that there are many sources and opportunities to enhance those revenues," indicating that "the intensification with the change that occurs in oil prices leads to a decrease in the state's general budget revenues, and is reflected in the investment budget, and considering that the other part is represented by salaries and wages, the decrease in oil prices affects investments."

He explained that "monetary and fiscal policy constitute economic policy and there must be effective coordination between the two policies to reach acceptable results," stressing that "the preparation of the general budget must be a basic partner in shaping its features, and this matter is largely related to the function of the bank. For example, the size of the deficit has a direct impact on monetary policy and this must be studied directly."

Al-Alaq concluded by saying, “Supporting private sector financing should be a key partner with the government to implement the economic program in many sectors, and the Central Bank launched the initiative to finance residential, commercial and investment loans, and this number reached 13 trillion dinars to finance projects, as 90% of housing projects in Iraq are financed by the Central Bank and have led to the activation of economic activity in the country.”  LINK

Iraq Economic News and points to Ponder Sunday AM 11-17-24

Exchange Rates Will Rise Further...A Warning Of An Imminent Economic Crisis Due To The “Coldness” Of The Central Bank

 November 16, 2024  Baghdad / Iraq Observer  Economic affairs researcher Ziad Al-Hashemi warned of serious economic repercussions as the deadline for stopping the dollar platform approaches after six weeks, indicating that the

 Central Bank of Iraq is still dealing with the crisis coldly, which may lead to a rise in exchange rates and a scarcity of imported materials. Al-Hashemi explained in a post on the This could cause major disruptions in the markets.”

He added,   “Failing to address this file will lead to a portion of remittances going toward the parallel market, which will increase the demand for the dollar and raise its exchange rates significantly, which will reflect negatively on the prices of goods and services in the Iraqi market.” He also expected that

 this would hinder the ability of a large number of merchants to import, causing a scarcity of imported goods and an increase in their prices. He pointed out that

 “the Central Bank seems to be betting on a smooth transition process without problems,

 but it considered this bet unrealistic in the absence of a clear plan for managing the transitional phase.” Al-Hashemi concluded his warnings by saying,

  “The Central Bank has only six weeks to act and manage this crisis, otherwise delay will lead to catastrophic results that will cast a shadow on the Iraqi economy by the end of this year.”  

 https://observeriraq.net/اسعار-الصرف-سترتفع-اكثر-تحذير-من-ازمة/     

Discussing Mineral Investment And Export Mechanisms

Economical 11/17/2024  Baghdad: Al-Sabah   The Ministry of Commerce held a meeting of the Diwani Order Committee No. (23931), charged with the task of

      reviewing legislation related to mineral investment, and

     developing mechanisms for exporting raw materials and

     methods for obtaining an export license,

 headed by the Undersecretary for Economic Affairs, Ghassan Farhan, and in the presence of members of the committee.

 Farhan confirmed in a statement received by Al-Sabah that

 “during the meeting, recommendations were discussed that will hopefully achieve positive results and the necessary support for industries, mineral investment and exporters, after their approval by the Council of Ministers.”      https://alsabaah.iq/105963-.html     

Corporate Structuring... Stimulates Economic Growth

 Economical 11/17/2024  Yasser Al-Metwally   In a remarkable step, the government is moving towards correcting the structural defect in the performance and management of government (public) companies, to make them profitable and productive companies, at a time when most of them were declining and losing.

This comes by activating the work of the Supreme Committee formed for this purpose (corporate structuring) and giving it direct attention from the top of the authority pyramid.

 The restructuring of public companies aims to improve companies' performance, increase their efficiency, and develop their strategies.

 This enables it to help simplify operations and improve workflow, which increases operational efficiency and reduces costs, and which enables it (I mean companies) to increase their profits and achieve sustainable financial growth.

 In addition, restructuring allows companies to adapt to changes in the market, technology, and customer requirements. Which helps it achieve competitiveness.

 With a simplified definition of structuring, it includes achieving an equal partnership with the private sector, transforming them into joint-stock companies, and benefiting from the private sector’s expertise in their management, or by merging with each other similar companies that practice the same activity, as well as partial privatization of some of them, especially those that are losing and those scheduled for liquidation..

 It is necessary, and even certain, to preserve the rights of surplus workers, as

restructuring will lead to the displacement of surplus workers,

 which requires dealing with the surplus workers, in a way that achieves justice in obtaining their retirement rights, and benefiting from some intermediate experiences to put them in emerging companies, and

what is most important is It is to encourage them to engage in private activity, and to help them establish small projects of their own, through soft and encouraging loans.

 Thus, the structuring process can get rid of the biggest challenge facing it, which is surplus labor.

The repercussions of the structure will contribute to improving production processes, and

 this requires attention to training and development, which leads to improving the quality of products and services provided, which enhances customer satisfaction.

Restructuring helps better identify and manage risks, which contributes to companies' stability and flexibility in the face of challenges.

 By adopting flexible and innovative organizational structures, companies can enhance their ability to innovate and develop new products and services.

It may be useful to point out that structuring companies and converting them into joint stock companies will contribute to enhancing economic growth, through listing them in the Iraqi Stock Exchange, which stimulates the financial market, labor market, and growth.

 The bottom line is that corporate restructuring is a process that requires careful planning and effective implementation to ensure the achievement of the desired goals.  https://alsabaah.iq/105961-.html    

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

Seeds of Wisdom RV and Economic Updates Sunday Morning 11-17-24

Good Morning Dinar Recaps,

FINTECH STARTUP RAISES $1.5M TO DEMOCRATIZE MARITIME FINANCE

Maritime fintech startup Shipfinex secured $1.5 million in seed funding to democratize maritime finance through blockchain-enabled fractional ownership of maritime assets.

Democratizing Maritime Finance
Shipfinex, a maritime fintech startup, recently announced it has secured $1.5 million in seed funding. Gaurav Mehta, chairman of shipping asset trader Best Oasis Limited and Dubai-based company SPM Shipping DMCC, led the funding round. Vivek Seth, senior vice president at ADNOC Logistics & Services, and Yasovardhan Chinni, founder of Nanlian Ship Management LLC, also participated.

Shipfinex aims to democratize maritime finance by enabling fractional ownership of maritime assets through blockchain technology. The startup believes this investment will kickstart a partnership that uses blockchain to reshape access to maritime assets.

According to a press statement, Mehta, a veteran in ship cash-buying and energy asset markets, will bring his extensive industry insights to Shipfinex.

Shipfinex plans to use the funds to support its growth and develop a secure and compliant marketplace for maritime asset tokens. The company also aims to accelerate its regulatory advancement with Dubai’s Virtual Asset Regulatory Authority (VARA).

Commenting on his financial backing of Shipfinex, Mehta said:

Shipfinex represents the next era in maritime finance, expanding asset ownership and enhancing transparency and efficiency. We’re excited to support this transformative journey and redefine how the world invests in maritime assets.

Vikas Pandey, CEO and co-founder of Shipfinex, lauded Best Oasis Limited CEO’s support and industry insights as “invaluable.” Pandey believes this will be key in Shipfinex’s endeavor to “redefine access and expand investment opportunities within maritime finance.”

@ Newshounds News™

Source:  Bitcoin News

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HOSKINSON EXPLAINS WHY CARDANO IS PREFERRED; ADA TO HIT AN ATH SOON?

Amidst the broader market optimism, Cardano’s price has been showing impressive surges lately as evidenced by its recent rally. Additionally, a flurry of developments around its founder Charles Hoskinson has also sparked market optimism.

Why Will It Reach An ATH?
In a latest X post, Hoskinson has praised the Cardano community. He explained why people prefer Cardano as he underscored that “We have the best community and the best entrepreneurs.

It’s a harder road, but it will change the world.” further, he also predicted the Voltaire update to make the ecosystem the “finest government ever assembled by humanity.”

Additionally, Charles Hoskinson visiting Elon Musk’s SpaceX office has also sparked speculations, given Musk’s rising influence in the US political landscape.

Besides, Hoskinson has recently said that he would support the Trump Government in shaping crypto legislation. He seeks to help the US administration in framing clear regulatory frameworks for digital assets, which have encountered regulatory pressure over the past few years.

Ripple CEO’s Comments Adds To The Optimism
The recent comments from Ripple CEO Brad Garlinghouse have also incited market optimism. He stated:

“The crypto industry has embraced Trump, Trump has embraced the crypto industry. I think it’s very genuine, and I think he sees the opportunity, he sees innovation, he sees entrepreneurship and I’m very excited about what the future holds.”

Garlinghouse highlighted that U.S.-linked crypto assets, such as XRP, SOL, and ADA, have outperformed other tokens due to the expected easing of regulatory pressure. He noted that the anticipation over pro-crypto policies under Trump administration has fueled the rally.

Besides, a prominent crypto market analyst Ali Martinez recently said that Cardano price is poised to hit $6 in 2025, further fueling the expectations of a potential ADA rally to its new ATH.

First Ever zkApp Launched On Cardano’s Midnight Sidechain
In the latest development, the first-ever zero-knowledge application (zkApp) has been launched on Cardano’s Midnight sidechain, that has excited both the community and the founder Charles Hoskinson as well. This innovation is a result of Midnight partnering with Paima Studios.

Sebastien Guillemot, the co-founder of Paima Studios, announced the launch of the zkApp on X. At its core, this partnership is set to simplify the development of multi-stack decentralized applications (dApps) and empower developers to leverage the strengths of different blockchain ecosystems seamlessly.

@ Newshounds News™

Source:  CoinPedia

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XRP NEWS TODAY:  TRUMP MEETS WITH GARLINGHOUSE. WHY IS THIS IMPORTANT?  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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Follow the Timeline 

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Subscribe to Newsletter

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Revalue Gold or Adopt Bitcoin Standard? US to Take ‘Drastic’ Action to Keep Dollar Strong: Mark Moss

Revalue Gold or Adopt Bitcoin Standard? US to Take ‘Drastic’ Action to Keep Dollar Strong: Mark Moss

Kitco News:  11-16-2024

The U.S. national debt recently surged past $36 trillion, and Mark Moss explains why inflation is the only viable path forward for the government.

 In a recent interview with Jeremy Szafron at Kitco News, Moss highlighted the rapid shift towards Bitcoin, predicting prices as high as $1 million by 2030.

 He also discussed sovereign nations accumulating Bitcoin, a phenomenon he referred to as “Sovereign FOMO,” which he believes will fuel a massive price rally. According to Moss, with Trump branding himself as the “Bitcoin President,” the U.S. is poised to adopt a strategic Bitcoin reserve, triggering a game theory scenario that could see other nations follow suit.

Moss also spoke about the challenges facing gold versus Bitcoin, emphasizing how Bitcoin is quickly emerging as the ultimate hedge against inflation amid record demand. He believes that gold could still play a role, possibly being revalued as a part of the U.S.'s response to currency pressures.

 Moss outlined why Bitcoin, unlike traditional assets, has a fixed supply and is being strategically accumulated by institutional and sovereign players—adding immense pressure on the limited availability of Bitcoin.

00:00 Introduction

 02:13 Financial Crisis and Market Outlook

05:58 Bitcoin's Unprecedented Surge

15:05 US Government's Bitcoin Strategy

19:29 Global Implications of Bitcoin Adoption

 26:03 El Salvador's Bitcoin Strategy

26:49 The Bitcoin Revolution: A Decade in the Making

31:25 Sovereign FOMO and Geopolitical Implications

 33:41 Bitcoin's Impact on Personal Wealth

36:24 Investing in Rare and Scarce Assets

40:03 Technological Revolutions and Investment Opportunities

 43:04 Gold vs. Bitcoin: Competing for the Hedge

49:18 Conclusion and Future Outlook

https://www.youtube.com/watch?v=Byqi1VnWJv0

“Tidbits From TNT” Sunday Morning 11-17-2024

TNT:

Tishwash:  Al-Sudani approves 35 new service projects and begins implementing them within 10 days

Prime Minister Mohammed Shia Al-Sudani stressed today, Saturday, the importance of accuracy and specifications in service and engineering effort projects.

The Prime Minister's media office stated in a statement received by "Al-Eqtisad News" that "Al-Sudani chaired today, Saturday, the periodic meeting of the service and engineering effort team."

He added, "The meeting witnessed a review of the progress of the projects being implemented by the effort team, and the rates of achievement achieved in them.

Approval was also given to 35 new service projects that will be attached to the 2024 projects, and their implementation will begin within 10 days in Baghdad and a number of governorates."

During the meeting, Al-Sudani stressed the "necessity of completing the 2024 projects before the end of the year," noting that "these projects must be implemented according to high standard technical specifications, in order for the service to be provided to citizens in a qualitative and distinctive manner."link

Tishwash:  Al-Alaq reviews to the President of the Republic the Central Bank’s plans to develop the banking sector

President of the Republic, Abdul Latif Jamal Rashid, stressed today, Sunday, the necessity of developing a future strategy for financial policy during his meeting with the Governor of the Central Bank, Ali Mohsen Al-Alaq.

Rashid said in a statement by the presidency, which was reviewed by Al-Eqtisad News: “It is necessary to develop a future strategy for financial policy according to clear, transparent standards that contribute to developing the services provided to citizens and building a solid banking sector.”

During the meeting, plans were reviewed to reform and develop the government and private banking sector, and support the work of the Central Bank, to enhance financial stability and achieve economic development.

In turn, Al-Alaq reviewed the Central Bank’s plans and procedures aimed at developing the banking sector to play its role in facing economic challenges. link

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

Tishwash:  For the first time in Iraq.. Efforts to establish an "Investment Association" to attract capital from 10 countries

The head of the Diyala Chamber of Commerce, Muhammad Al-Tamimi, revealed today, Saturday (November 16, 2024), efforts to establish an investment association to attract capital from ten countries to Iraq.

Al-Tamimi told Baghdad Today, "Over the past years, we have succeeded in developing important relationships with companies and businessmen in 10 countries, including regional and Arab countries in the Middle East, through participation in various economic meetings and conferences."

He added, "We have a movement to establish an investment association that works to attract capital from 10 countries to Iraq by stating the available licenses in 12 important sectors, especially industrial, agricultural, and housing."

He pointed out that "there are efforts to crystallize the first investment conference in Diyala, which will be followed by other conferences in order to create a greater partnership between investors and businessmen  link

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Iraq Economic News and Points to Ponder Saturday Afternoon 11-16-24

Central Bank Of Iraq's Hard Currency Sales Rise To More Than $1 Billion

economy | 04:43 - 11/16/2024   Mawazine News – Baghdad   The Central Bank of Iraq recorded an increase in its sales of hard currency (US dollars) during the past week, as total sales amounted to more than $1.434 billion, distributed over five days of auction.

According to the data, the average daily sales amounted to $286.996 million, representing an increase compared to the previous week, which recorded total sales of $1.169 billion.

Monday was the highest selling day during the past week, as sales amounted to $292.427 million, while Wednesday recorded the lowest sales at $281.979 million.

Foreign remittance sales accounted for the largest share, amounting to $1.380 billion, representing 96% of total sales, while cash sales amounted to only $54.200 million.

This increase comes within the framework of the Central Bank’s continued efforts to meet the market’s needs for foreign currency, while maintaining the stability of the exchange rate and enhancing external financial flows.   https://www.mawazin.net/Details.aspx?jimare=256625

Dollar Holds Steady At Start Of Week With Close

Economy  | 05:23 - 11/16/2024  Mawazine News – Baghdad  The dollar prices fell in the markets of Baghdad on Saturday, and in Erbil, the capital of the Kurdistan Region, with the closure of the stock exchange at the beginning of this week.

The dollar prices fell with the closing of the Al-Kifah and Al-Harithiya stock exchanges to record 150,350 Iraqi dinars per 100 dollars, while this morning it recorded 150,600 dinars per 100 dollars.

The selling prices also fell in exchange shops in the local markets in Baghdad, where the selling price reached 151,250 Iraqi dinars per 100 dollars, while the purchase price reached 149,250 dinars per 100 dollars.

In Erbil, the dollar recorded a slight decrease, where the selling price reached 150,450 dinars per 100 dollars, and the purchase price reached 150,350 dinars per 100 US dollars. https://www.mawazin.net/Details.aspx?jimare=256628

Financial Advisor: Good Performance Of Fiscal Space Reflects Government’s Ability To Increase Spending Without Problems

Political | 11/16/2024  Mawazine News – Baghdad  The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Saleh, confirmed today, Saturday, that the good performance of the fiscal space is an indication of the government's ability to increase spending without facing financial problems, noting that the temporary shortage in the flow of public revenues in some months did not disrupt the government's work.

Saleh said that "the government's financial policy worked towards the principle of fiscal space in the economy, which means that the pace of public spending, especially on investment projects, was not significantly affected by the temporary shortage in the flow of public revenues in some months."

Saleh added: "The good performance of the fiscal space indicates the government's ability to increase spending or provide social support that contributes to supporting the economy without causing serious financial problems such as inflation or a large deficit."

He continued: "This fiscal space is still available when the state's financial conditions are good, which allows the government to take fiscal policies that stimulate economic growth, such as increasing spending on infrastructure or improving social services."

  https://www.mawazin.net/Details.aspx?jimare=256624

Oil Prices Fall On Weak Chinese Demand, Uncertainty Over Rate Cut

Saturday 16 November 2024 08:55 | Economic Number of readings: 237

Baghdad / NINA / Oil prices fell by one dollar per barrel at the end of trading yesterday, Friday, heading towards a weekly loss, as investors are assessing indications that demand in China, the largest importer of crude, is still weak, in addition to a possible slowdown in the pace of the Federal Reserve's interest rate cuts.

Brent crude futures fell $1.09, or 1.5 percent, to $71.47 a barrel, while US West Texas Intermediate crude futures fell $1.18, or 1.7 percent, to $67.52. Over the week, Brent headed down 3.3 percent and WTI 4.1 percent.

Data from the National Bureau of Statistics showed crude refining activity at Chinese refiners fell 4.6 percent in October from a year earlier, marking a seventh straight month of year-on-year decline, amid some plant shutdowns and smaller independent refiners cutting operating rates. The

International Energy Agency (IEA) forecast global oil supply will outpace demand in 2025 even as cuts by the OPEC+ alliance, which groups OPEC members and allies such as Russia, continue, as rising output from the United States and other non-OPEC+ producers outweighs slowing demand.

The Paris-based agency raised its demand growth forecast by 60,000 barrels per day (bpd) in 2024 to 920,000 bpd, and left its 2025 oil demand growth forecast unchanged at 990,000 bpd.

OPEC this week also cut its forecast for global oil demand growth for this year and 2025, marking the fourth downward revision by the group. The organization for its forecast for 2024.

The US Energy Information Administration said that crude inventories rose by 2.1 million barrels last week, far exceeding analysts’ expectations for an increase of 750,000 barrels.

The administration reported at the same time that gasoline stocks fell by 4.4 million barrels last week to their lowest level since November 2022, compared with analysts’ expectations in a Reuters poll for an increase of 600,000 barrels.

The data also showed that distillate stocks, which include diesel and heating oil, unexpectedly fell by 1.4 million barrels. /End9   https://ninanews.com/Website/News/Details?key=1169284

Gold Prices Stabilize In Baghdad

Money and business  Economy News – Baghdad   Gold prices witnessed stability in the wholesale markets on Al-Nahr Street in the capital, Baghdad, where the selling price of one mithqal of 21 karat Gulf, Turkish and European gold was recorded at 532 thousand dinars, and the purchase price reached 528 thousand dinars.

The selling price of one mithqal of 21-karat Iraqi gold was 502 thousand dinars, and the purchase price was 498 thousand.

As for prices in goldsmith shops, the selling price of a mithqal of 21-karat Gulf gold ranged between 535,000 and 545,000 dinars, while the selling price of a mithqal of Iraqi gold ranged between 505,000 and 515,000 dinars.   https://economy-news.net/content.php?id=49875

Al-Bandawi: Iraq Is Moving Towards Full Sovereignty With America’s Commitment To Withdraw Its Forces

Time: 2024/11/16 Read: 1,014 times  {Politics: Al Furat News} Member of the Parliamentary Security and Defense Committee, Ali Al Bandawi, said that Iraq is taking steps towards full sovereignty with the commitment of the United States of America to withdraw its forces.

Al-Bandawi told {Euphrates News} that: "Regarding the agreement between Iraq and America on the withdrawal of international coalition forces from Iraq, the agreement was made between Iraq and America and the Iraqi government is committed to this agreement and a series of dialogues and meetings were held."

He pointed out that "the United States and the new American president are supposed to complete the agreements, especially since there is a need to go in the economic direction instead of the military or war direction."

Al-Bandawi added that "Iraq's continuation of these dialogues with the American side will lead to a final agreement and the agreement is binding on the administration of the two countries," noting that "the speech of the Commander-in-Chief of the Armed Forces, Prime Minister Mohammed Shia al-Sudani, confirmed that it is binding because a joint high technical committee is completing the remaining final arrangements for the withdrawal of American and international forces from Iraq."

Iraqi officials said in statements last September that there is an agreement with a clear time frame between Washington and Baghdad on the issue, but Washington has remained largely silent.

Defense Minister Thabet al-Abbasi also confirmed two months ago that an agreement had been reached on the withdrawal of coalition forces over two years and transforming the relationship into a sustainable security partnership.

He said in a previous interview that "it was agreed to end the coalition's mission in two phases, the first phase begins this year and continues until 2025, while the second phase ends in 2026."

It is noteworthy that approximately 2,500 American soldiers are still present in Iraq as part of the international coalition, under a training and advisory mission and to assist Iraqi forces, after their numbers were reduced following the defeat of ISIS from the country in 2017.   LINK

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

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 11-16-24

Good Evening Dinar Recaps,

FINANCIAL INSTITUTIONS WILL DRIVE RWA TOKENIZATION’S TRILLION-DOLLAR GROWTH

The real-world asset tokenization industry is projected by some to exceed $30 trillion by 2030, driven by nimble and mainstream financial institutions.

Financial institutions will be the main drivers of the growing tokenization industry leading up to 2030, which could potentially see more than 50-fold growth.

Real-world asset (RWA) tokenization refers to financial and other tangible assets minted on the immutable blockchain ledger, increasing investor accessibility and trading opportunities around these assets.

Large financial institutions will be the main drivers of the tokenization sector’s significant growth, according to Jesse Knutson, the head of operations at Bitfinex Securities.

Institutions are already driving significant growth in the crypto industry, which could spill over into the tokenization sector, Knutson told Cointelegraph during an exclusive at Plan B Lugano:

“It's the more nimble institutions, the fast movers, like the family offices, those kind of guys. I think they'll have an outsized impact in these early days. But eventually, the benefits of tokenization, they're going to pull in the mainstream institutional investors.

Some of the world’s largest financial institutions and business consulting firms say the RWA sector may see a more than 50-fold increase by 2030, potentially reaching over $30 trillion.

Tokenized securities: a $ trillion opportunity
Most firms predict that the RWA sector will reach a market size of between $4 trillion and $30 trillion by 2030.

RWA tokenization, market size predictions by 2030. Source: Tren Finance

If the sector were to achieve the median prediction of about $10 trillion, it would represent more than 54 times growth from its current value of around $185 billion, including the stablecoin market, according to a Tren Finance research report.

Still, stablecoins continue to dominate the RWA sector, accounting for over $170 billion of the market as of October 2024. In comparison, securities and treasuries tokenized onchain are valued at $2.2 billion.

RWA sector will follow the crypto industry’s growth trajectory: Bitfinex
Bitcoin saw significant growth this year, rising over 116% year-to-date, after receiving a significant institutional nod in the form of the first spot Bitcoin exchange-traded funds (ETFs) in the United States.

The RWA tokenization industry will likely follow the growth trajectory of the crypto space, said Bitfinex Securities’ Knutson:

“The consensus view is that markets are going to evolve, and the direction they're probably going to evolve is, is something similar to how the digital asset industry has grown over the years.”

Increasingly, more institutions are betting on the RWA sector’s success, including the world’s largest asset management firm, BlackRock. Other financial institutions are running tokenization pilots, including UBS Asset Management.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

HBAR GOES TO SPACE! SPACEX AND HEDERA TO PIONEER SATELLITE PAYMENT NETWORKS

▪️Hedera Hashgraph could be powering SpaceX to space after multiple key figures confirmed a groundbreaking partnership with Elon Musk’s company.

▪️Hedera’s ability to process trillions of transactions per second and track space traffic was part of the several reasons for its consideration.

Hedera Hashgraph (HBAR) could soon go into space as a renowned crypto investor and expert discloses a groundbreaking partnership with SpaceX. According to Shawn, Hedera would be primarily responsible for facilitating crypto transactions in space. 

Meanwhile, this could mark a huge breakthrough for satellite-to-satellite payment networks while subjecting transactions across Earth and space to a significant transformation.

Why Hedera?
According to experts, Hedera provides cutting-edge solutions to all the challenges of the previous blockchain technologies. Explaining this in a blog post authored by Shawn in 2023, it was disclosed that Hedera can facilitate trillions of transactions per second.

 Comparatively, Ethereum can only manage 12-15 transactions per second. Meanwhile, Hedera executes these levels of operation while consuming 970.000.000 less energy than Ethereum.

Explaining the application of Hashgraph in space, Shawn highlighted five key use cases in his post.

Secure Satellite Communication and Payment Networks
According to Shawn, SpaceX’s Starlink has issues with making uncensored, fast, and secure internet connectivity worldwide.

This has been a challenge since its internet access depends on the server infrastructure on Earth. In this case, a targeted attack on the data centers or global nuclear fallout could render this infrastructure useless. Fascinatingly, the use of Hashgraph technology alongside Starlink, according to Shawn, could put these disruptions under control.

Tokenization of Resources from Asteroid Mining
Shawn also argued that asteroids could be tokenized on Hashgraph with the extraction of the resources financed by people globally.

Space Supply Chain Management
Hashgraph is also reported to possess the ability to enable companies to monitor the carbon emissions of their supply chain. In addition to that, they can keep progress in every step of their production of a rocket from start to finish.

Tracking & Management of Space Traffic
According to the report, Hashgraph possesses unique qualities for managing space traffic. Seven of these features listed by Shawn are:

▪️Real-Time Monitoring and Coordination
▪️Decentralization
▪️Consensus and security
▪️Efficiency and scalability
▪️Interoperability
▪️Smart contract for automated responses
▪️Data integrity and transparency.

Smart Contracts for Autonomous Spacecraft and Space Vehicles
The combination of artificial intelligence and Hedera is reported to enable spacecraft and space vehicles to autonomously make decisions. Fascinatingly, this is said to be done by executing different predefined scenarios without necessarily minimizing human errors.

Smart contracts can be programmed with logic that allows spacecraft to make decisions based on real-time data. For example, if a satellite detects an obstacle or another satellite on a collision course, the smart contract can automatically execute maneuvers to avoid a collision without the need for ground intervention.

According to our investigation, the movement of Hedera to space has also been confirmed by the CEO of WISeKey Carlos Creus Moreira.

In his announcement on X, Moreira disclosed that this groundbreaking mission would redefine innovation.

World-first: testing the exchange of SEALCOIN directly from space as a proof of concept. This is a major leap forward in secure satellite communication and blockchain integration with Hedera Hashgraph, paving the way for the future of space-based digital cryptocurrency transactions.

Meanwhile, CNF has also reported that Cardano could be embarking on a partnership journey with SpaceX with the co-founder Charles Hoskinson recently dropping a teaser on X.

At press time, HBAR was trading at $0.085 after surging by 21% in the last 24 hours.

@ Newshounds News™.

Source:  Crypto News Flash

~~~~~~~~~

🌱MASSON CLASS 1) ID REQUIREMENTS FOR CRIMINAL TRESPASS SHERIFF HANDBOOK - ARE YOU FREE?  |  Youtube

Did you miss the Friday Night Constitutional Call last night?  You can catch it on our Youtube Channel at the link above.  Learn the steps to change your status to return your power and rights as a Citizen of the State.

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Gold Replacing Treasuries as Global Safe Haven: Andy Schectman

Gold Replacing Treasuries as Global Safe Haven: Andy Schectman

WTFinance:  11-15-2024

In a recent episode of the WTFinance podcast, listeners were treated to an enlightening discussion with Andy Schectman, the President of Miles Franklin Precious Metals Investments.

Known for his insightful perspectives on the economy and precious metals markets, Schectman provided a wealth of information on a variety of pressing topics that are shaping the financial landscape today.

As we navigated through a post-pandemic world, Schectman’s take on the current economic situation was both candid and eye-opening. He expressed concerns about the complexities of our economic recovery and the challenges that lie ahead.

 With inflation still a lingering issue and supply chain disruptions continuing to ripple through the market, Schectman emphasized the importance of being vigilant and proactive in these uncertain times.

One of the most discussed topics was the inconsistency surrounding Federal Reserve (Fed) rate cuts and their impact on yields. Traditionally, one would expect that lower interest rates would translate into decreased yields, but Schectman illuminated why this hasn’t been the case in today’s economic environment.

He attributed the stagnant yields to a deeper issue regarding market confidence and liquidity, suggesting that simply adjusting interest rates is not sufficient to ignite robust economic growth.

Schectman introduced listeners to the concept of financial repression, a situation where inflation outpaces interest rates, effectively eroding savings. He explained how this can serve as a double-edged sword: while it can benefit borrowers, it creates hardships for savers, particularly retirees who depend on fixed-income investments.

This ongoing repression could prompt investors to reconsider traditional saving mechanisms, potentially steering them toward assets such as precious metals, which have historically served as a hedge against inflation.

The conversation took a fascinating turn toward global geopolitics when Schectman delved into the implications of BRICS—a coalition of Brazil, Russia, India, China, and South Africa—and the emerging risks of a new axis of power. He theorized that as BRICS nations seek to offset Western economic dominance, they may forge new trade alliances and currency frameworks that could challenge the U.S. dollar’s supremacy.

This shift has monumental implications, not only for international trade but also for U.S. foreign policy and economic stability. Schectman encouraged listeners to stay abreast of these developments, as shifts in global alliances could have a direct impact on domestic economic conditions.

A particularly intriguing topic was the prospect of a BRICS currency. As member countries explore the possibility of creating a joint currency, Schectman noted the potential this could hold in facilitating trade among member nations without relying on the dollar.

This move could symbolize a significant shift toward a multipolar world economic system, fostering new dynamics in trade that could subsequently impact global markets.

Andy Schectman’s appearance on the WTFinance podcast was an enlightening session that provided listeners with a comprehensive view of the intricate economic issues facing us today. From the perplexities of interest rates to the emergence of BRICS as a formidable economic bloc, Schectman’s insights are invaluable for anyone looking to navigate the current financial landscape.

As we look ahead, it’s clear that understanding these evolving dynamics will be crucial in making informed investment decisions and preparing for potential shifts in both domestic and global markets. For those seeking to gain deeper insights into precious metals and the broader economy, this episode is a must-listen!

Whether you’re an investor, a financial professional, or simply someone interested in the world of finance, tuning into conversations like these can enrich your understanding of today’s complexities and uncertainties. Join us in the excitement and exploration of these vital topics as they unfold.

https://youtu.be/lXGbnpsoo2c

https://dinarchronicles.com/2024/11/15/wtfinance-gold-replacing-treasuries-as-global-safe-haven/

Iraq News Highlights and Points to Ponder Saturday AM 11-16-24

PM's Advisor: Government Able To Increase Spending Without Inflation Or Fiscal Deficit

Baghdad - WAA - Nassar Al-Hajj,   the Prime Minister's Advisor for Financial Affairs, confirmed today, Saturday, that the good performance of the financial space is an indication of the government's ability to spend without problems, while he pointed out that the government was not hindered by the shortage in the regular flow of public revenue in some months.

Saleh told the Iraqi News Agency (INA), "The government's financial policy worked towards the principle of fiscal space in the economy, which means that the pace of growth in general and investment spending on projects in particular were not hampered by the temporary shortage in the regular flow of public revenue in some months."

He added, "Therefore, the good performance of the fiscal space indicates the government's ability to increase spending or social support to support the economy without causing serious financial problems such as inflation or a large deficit."

He continued, "This space is still available when the state's financial situation is good, and allows the government to take fiscal policies to stimulate economic growth, such as increasing spending on infrastructure or improving social services."  https://www.ina.iq/221509--.htm

Economist: Parallel Market Remains Pivotal To Financing Iraq’s Trade With Iran, Syria

Time: 2024/11/16   Reading: 767 times  {Economic: Al Furat News} Economic expert Abdul Rahman Al Mashhadani confirmed today, Saturday, that the difference in the dollar exchange rates between the parallel market and the official price is considered a normal matter at the present time, indicating that Iraq has not yet solved the problem of trade with the sanctioned countries.

Al-Mashhadani told Al-Furat News Agency, “We need between 25 and 35 million dollars daily to finance trade with Iran and Syria, especially since the private sector’s trade with these two countries is considered the largest and is financed from the parallel market.”

He added, "This difference between the two prices is mainly due to financing trade from the parallel market, noting that this is the main reason for the difference between the official and parallel prices remaining."

He explained that "indications indicate that US President Trump is thinking of easing sanctions on Russia and Iran due to their impact on the US economy," noting that "if sanctions are eased and Iraq is allowed to deal directly with Iran to finance its trade, the dollar will return to levels close to the official price."  From.. Raghad  LINK

US Institute: Trump Administration May Prevent Iraq From Importing Iranian Gas As Part Of Pressure On Tehran

Energy   Economy News - Follow-up  The American Foreign Policy Research Institute believes that the Trump administration may use pressure on the Tehran government through economic files, including exporting gas to Iraq.

The institute published a report stating that "the Trump administration may take advantage of regional tensions to pressure the Iraqi government to reform security institutions and limit the influence of factions."

The report added that "the Trump administration may prevent Iraq from buying Iranian gas as part of its expected strategy of maximum pressure against Tehran."

Regarding foreign withdrawal, the report said that "Trump may decide to keep US forces in Iraq depending on the course of regional events."

He added, "The attacks launched from Iraq will make the country vulnerable to targeting, similar to Syria, Lebanon and Yemen."    https://economy-news.net/content.php?id=49873

Find Out The Exchange Rates Of The Dollar Against The Dinar In The Iraqi Stock Exchanges

Economy  2024-11-16 | 3,838 views  Sumerian News – Economy  publishes Sumerian News, exchange rates Dollar Against the dinar Iraqi In local Iraqi markets on Saturday, November 16, 2024.

Baghdad:  Selling price: 151,000   Buying price: 150,250

Erbil:  Selling price: 151,250   Buying price: 150,600

Basra:  Selling price: 151,000   Buying price: 150,000

On February 7, 2022, the Council of Ministers announced the approval of amending the exchange rate Dollar To 1320 dinars per dollar.  LINK

Iraq Is Ahead Of China In Trade Exchange With Iran.. These Are The Numbers

Economy  2024-11-16 |  Male Economy responsible Iranian: Trade exchanges between Iran and other countries last October exceeded 22 million and 809 thousand tons.

The spokesman said, Committee Relationships International And trade development in The house The Iranian Ministry of Industry, Trade and Mines said that trade exchanges between Iran and other countries in October exceeded 22 million and 809 thousand tons, worth 13 billion and 698 million dollars, which is 39% more than in October of last year.

Ruhollah Latifi explained, in statements reported byan agency ISNA News: Iran's non-oil trade in October this year, whether in exports, imports or foreign transit, witnessed a remarkable growth, as it was export More than 18 million 359 thousand tons of goods worth 6 billion 771 million dollars this month, which is an increase of 58.6% in weight and 62.6% in value compared to October last year.

Regarding Iran's main export destinations last month, he said: Although China bought most of Iran's goods in the exports of the past months, Iraq Last October, it was the first destination for Iranian goods exports, with a share of $2.78 billion.

 After that, Iraq China came in second place with $1.434 billion, followed by Turkey with $925 million, the UAE with $783 million, and Afghanistan with $249 million.

Regarding the first countries that sell goods to Iran, the spokesman said: Committee Relationships International And trade development in The house Iranian Industry, Trade and Mines: Last October, the UAE ranked first in selling goods to Iran, with $2.18 billion, followed by China with $1.755 billion, Turkey with $1.442 billion, Germany with $200 million, and Russia with $161 million.  LINK

New Decline In Gold In Iraq.. And Globally Records The Worst Week In 3 Years

Time: 2024/11/15  Reading: 520 times  New decline in gold in Iraq.. and globally records the worst week in 3 years Oe-rugperggg

  {Economic: Al Furat News} Gold prices in Iraq continued to decline today, Friday, along with its global decline.  The price of one mithqal in Baghdad of {21 carats} reached 545 thousand dinars after touching the 600 thousand dinars barrier in the past weeks.

Globally, gold prices declined in today's trading, Friday, with the rise of the dollar in global markets, heading towards recording the worst weekly performance in nearly 3 years.

By 11:10 Moscow time, December gold futures (Comex) fell by 0.10% to $2,569.70 per ounce.

Spot contracts for the precious metal fell by 0.07% to $2,563.10 per ounce, according to data from Bloomberg.  LINK

Al-Sahaf: Washington Continues To Support Terrorist Organizations In Iraq

Information / Baghdad..   The spokesman for the popular legal movement, Muhammad Al-Sahaf, confirmed today, Saturday, that the file of removing American forces from the country is still unresolved, indicating that this represents a danger to the political, security and economic conditions of the country.

Al-Sahaf said in a statement to Al-Maalouma Agency, "Iraq does not need American forces under the pretext of fighting the terrorist organization ISIS," noting that "the withdrawal of these forces must begin without any delay."

He added that "the withdrawal of these forces is a guarantee for the security and stability of all of Iraq," noting that "America continues its generous support for terrorist organizations in Iraq."

Al-Sahaf continued, "The file of withdrawing American forces from the country is still unresolved." End / 25 H   LINK

Seeds of Wisdom RV and Economic Updates Saturday Morning 11-16-24

Good Morning Dinar Recaps,

BRICS MEETING WITH SAUDI ARABIA: MAJOR DISCUSSION POINTS UNVEILED

Despite the ongoing confusion regarding the country’s position within the economic alliance, the BRICS bloc and Saudi Arabia have met, with major points of discussion being unveiled. The nation had previously accepted an invitation to be among its first expanded members. However, that proved not to be the case, with major leadership not even attending the alliance’s 2024 Summit.

However, the two sides are still reportedly engaged in positive talks. Specifically, they have met to confront the potential for growing cooperation on a global scale.

The move could have major ramifications for the coming year. Moreover, it could be a turning point that reestablishes Riyadh as a key BRICS ally.

Saudi Arabia & BRICS Hold Key Discussion: Here’s What Was Said
The BRICS bloc has grown massively over the last year. Indeed, it had enacted a groundbreaking expansion in 2023, where four nations joined the collective. Specifically, the United Arab Emirates (UAE), Egypt, Iran, and Ethiopia became the first expansion countries since 2001.

Yet, one nation that had accepted, but did not join the bloc was Saudi Arabia. Indeed, the country was poised to be one of the most important additions to the economic alliance. Its dominance in the oil sector was expected to only strengthen the group’s position. However, the country would end up rejecting a full position within the bloc.

That hasn’t stopped the two sides from engaging in efforts to strengthen their relations. Indeed, BRICS has met with Saudi Arabia in recent discussions that sought to fortify their relationship. Specifically, reports how Russian President Vladimir Putin and the Crown Prince of Saudi Arabia, Mohammad bin Salman Al Saud, recently talked.

According to reports, the two sides discussed the success of the bloc’s 2024 Summit. Moreover, they affirmed the “importance of continued coordination between the two states” within economic collaborations. Finally, they both spoke highly of the ongoing trajectory of their nation’s partnerships.

However, they also highlighted the importance of their “readiness to further strengthen cooperation in political, trade, economic, and humanitarian spheres.” The bloc has recently shifted its focus amid an ever-changing geopolitical landscape.

With Donald Trump’s election taking place this month, the group has said they will no longer ditch the US dollar. Perhaps the absence of Western opposition makes continued partnership with Saudi Arabia more appealing to the Middle Eastern powerhouse.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

UK GOVERNMENT CONFIRMS DIGITAL GILTS PILOT. WHAT’S THE ROADMAP?

The UK’s HM Treasury has confirmed plans to run a pilot for the issuance of digital gilts, UK government bonds, following leaked news earlier this week. The previous Conservative government had also planned to organize a pilot.

t’s seen as an important step for UK capital markets, particularly as the UK has launched a Digital Securities Sandbox for DLT and tokenization pilots.

The UK could benefit more than other jurisdictions. One of the killer apps for blockchain in capital markets is repurchase agreements or repos, which involve exchanging cash for gilts. This allows banks and institutions to either lend excess liquidity or borrow it if they are short.

Conventional repos involve delayed securities settlement, which means repo duration is typically overnight. By contrast, blockchain supports instant settlement enabling intraday repo. The ability to manage liquidity for hours at a time is very attractive to banks and other institutions.

Intraday repo is already happening by tokenizing existing Treasuries in the United States. A native digital gilt would make the process far easier.

On top of that, the UK has Fnality, a tokenized cash settlement network backed by an omnibus account at the Bank of England. Fnality is backed by more than 20 institutions.

Hence, with a digital gilt, the UK will have both a digital security and cash on chain.

With the previous government floating the idea, industry trade body UK Finance collaborated with EY to draft a digital gilt roadmap. It submitted it to the government in April, but published it today.

A digital gilt roadmap
It suggests two alternative approaches, one is more evolutionary whereas the other is a Big Bang path.

In the multi-staged approach it suggests issuing a short dated digital Treasury bill within the first six months with only a limited number of market participants.

In the second phase within the first year, a medium term digital gilt would have more functionality. For example, it would involve more market makers and a wider group of investors.

Most importantly, it would be integrated with the existing off-chain secondary market, with the gilts eligible as collateral for repo. These are essential steps to ensure liquidity.

The third phase within 18 months would involve another issuance with both the trading of gilts and repo performed on chain.

The Big Bang approach would essentially skip the first two steps and happen in a more compressed time frame. The UK Finance paper outlines the pros and cons of each path.

A major hurdle could be the legal and regulatory work needed to support digital gilts being used as collateral for repo and other purposes. Plus, there’s the need to maintain a sufficient level of liquidity.

Switzerland is one of the most advanced jurisdictions in this area. Its central bank considers using digital Treasury bills for money market operations as premature, given the immaturity of the DLT sector.

However, Switzerland was the first mover in launching a digital securities exchange, so progress unsurprisingly has been slow going. By contrast, there’s been strong interest and engagement in the ECB’s wholesale DLT settlement trials, with market participants hoping the trials won’t end.

UK Finance believes that with the digital gilt program “the UK can lay the groundwork for a robust and innovative digital capital market ecosystem, bolstering its position as a global leader in financial technology and digital finance.”

@ Newshounds News™

Source:  Ledger Insights

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Source:  Seeds of Wisdom Team RV Currency Facts

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