“Tidbits From TNT” Wednesday Morning 11-20-2024

TNT:

Tishwash:  Iraq launches long-awaited population census, Prime Minister says

Iraqi Prime Minister Mohammed Shia al-Sudani announced that Wednesday, November 20, will mark “a significant developmental and civilizational milestone” as Iraq embarks on its long-awaited census.

In a televised address, al-Sudani stated, "We are initiating the national population census to complete the priorities of the government program, aiming to make the census a modern scientific tool for planning," expressing the government's commitment to serving the Iraqi people.

The census aims, according to Al-Sudani, to shape economic and social development using modern, scientific methods, addressing information gaps in planning, service delivery, and national decision-making.

“Advanced and accurate electronic methods would be used to ensure the census results are reliable and beneficial for the present and future of Iraq.” He said.

The Prime Minister considered that data generated from this census will serve as a “tool for informed decision-making and ensuring equitable distribution of resources and services across governorates," al-Sudani said.

Al-Sudani urged citizens to cooperate with the teams conducting the census, clarifying that it is not related to taxes or social protection but is essential for development across all sectors.

Notably, the census, scheduled for November 20-21, will provide Iraq with its first accurate and comprehensive population data in decades. The last nationwide census was conducted in 1987, while the most recent one in 1997 excluded the Kurdistan Region. Current estimates place Iraq's population at around 43 million.

More than 120,000 field researchers will go door to door, collecting data from households using electronic tablets, in a process supported by the United Nations.

Available in Arabic, Kurdish, and English, the census form will feature 70 questions covering religion, health, education, labor, and economic activity. However, questions regarding an individual's ethnicity, language spoken at home, and ancestry have been excluded.

The initial results will be announced within 24 hours, with the final figures expected to be released within three months. link

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Tishwash:  Iraqi Firm Becomes Exclusive Dealer for China’s Rox Motor 

Iraq’s Laith Al-Obaidi Group has announced an exclusive dealership agreement with China’s Rox Motor, marking a significant milestone in the Iraqi automotive market. 

The agreement was signed during the Guangzhou Nanling Automobile Exhibition by Rox Motor CEO Yan Feng and Laith Al-Obaidi Group CEO Ali Al-Obaidi. This partnership expands Laith Al-Obaidi Group’s portfolio, which now includes eight automotive-focused businesses in Iraq, further strengthening its market presence.

Rox Motor’s innovative Range Extended Electric Vehicles (REVs), combining electric power with an integrated generator, are touted as ideal for the Iraqi market due to their efficiency and suitability for modern consumers. 

Beyond Iraq, Rox Motor has also established distribution agreements in Qatar, Kuwait, Azerbaijan, the Philippines, and Egypt, showcasing its growing footprint in emerging markets worldwide.  link

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Tishwash:  Italy-Iraq: a business forum promoted by Unido Itpo on November 27th in Rome

The aim is to "facilitate partnerships and commercial collaborations between Iraqi and Italian stakeholders"

The Italian Investment and Technology Promotion Office of the United Nations Industrial Development Organization (Unido Itpo) is organizing the “Iraq Business and Cooperation Forum” event in Rome on November 27, in collaboration with Confindustria.

The aim, Unido Itpo reported, is to “facilitate partnerships and business collaborations between Iraqi and Italian stakeholders from institutions, business associations and the private sector in the fields of agri-food, energy and environment, infrastructure and construction, medicine and pharmaceuticals and beyond”.

The Forum will open with a plenary session in the morning, with interventions by high-level representatives of distinguished stakeholders, including the Italian Ministry of Foreign Affairs and International Cooperation, the Italian Agency for Development Cooperation (AICS) and other members of Sistema Italia.

On the Iraqi side, there will be representatives of the Ministry of Industry and Minerals, the Ministry of Commerce, the Iraqi Federation of Industries, the Iraqi Federation of Chambers of Commerce, the National Investment Commission, the Board of Investment of the Kurdistan Regional Government, the Industrial Cities Corporation.

 Also present will be the Unido Enterprise Development Centers, which will bring their expertise and knowledge, contributing to the strategic discussions and the resulting developments. The afternoon of the Forum will be dedicated to B2B and B2G meetings, allowing direct interactions between the participating Italian companies and their Iraqi counterparts.

The event is organized within the project “Investment Promotion for Iraq – Phase 2” funded by AICS and the project “Establishing Innovative Platform in Iraq” funded by MAECI, both implemented by UNIDO ITPO Italy. link

Mot . Such Fond Memories of a Winter Past!!! 

Mot: What a Guy!!!!  Smile for the camera

Iraq Economic News and Points to Ponder Tuesday Evening 11-19-24

The Future Of International Trade Transactions In US Dollars In Iraq

Samir Al-Nusairi  The US dollar is the first global currency for foreign trade transactions between countries of the world. It constitutes 80% of the volume of international financial transactions and represents about 60% of international reserve currencies.

The dollar is the only currency that accommodates large financial transactions in the oil and energy sector and global oil trades amounting to 100 million barrels in addition to other commodities. Other currencies constitute about (20%-25%).

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The dollar plays a fundamental role in the control of the American economy over the global economy in various fields, and many countries tried to get rid of the dominance of the US dollar in previous periods, but they could not.

Therefore, the BRICS group was established, and its member states, namely China, Brazil, India and South Africa, are trying to limit the dominance of the dollar in international commercial and banking transactions, and the number of countries in it has now become about 9 countries.

After several countries joined, including Arab countries such as Egypt, the Kingdom of Saudi Arabia, and the United Arab Emirates, in addition to Ethiopia and Iran in 2024, and its main goals are to limit the dominance of the dollar in global trade, cooperation between the tax and customs authorities of the group’s countries, and to reach the creation of a new currency for use among the group’s countries.

Iraq, with the aim of reorganizing foreign trade financing, began concluding agreements with central banks with which Iraq has extensive trade exchange, in agreement with solid correspondent banks in China, India, the Emirates and Turkey, to deal in Chinese yuan, Indian rupee, Emirati dirham and Turkish lira, to achieve two goals:

 the first is to enable our banks to agree with correspondent banks in these countries and other countries to deal directly with them after canceling the electronic platform, and

the second is to introduce new foreign currencies for commercial and banking transactions other than the US dollar, to enable banks that do not have US correspondent banks to continue their foreign transfers with those alternative countries according to special agreements with their central banks.

This can help control the reduction in the widespread local demand for the US dollar, create a state of balance in the money market, and maintain the purchasing power of the local currency, the Iraqi dinar. This method is now in effect, in addition to the existence of dealings in the US dollar as well. https://economy-news.net/content.php?id=50000

Foreign Minister And US Ambassador Stress Need To Continue Cooperation And Strengthen Partnership

Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein and US Ambassador Alina Romansky stressed the need to continue cooperation and strengthen partnership to serve common interests.

A statement from the Ministry of Foreign Affairs stated that "Deputy Prime Minister Fuad Hussein received the US Ambassador to Iraq Alina Romansky."

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The statement added that "the meeting discussed the results of the US elections and the expected new administration in Washington, in addition to reviewing the results of the Arab-Islamic Summit and the Climate Summit. The two sides also touched on the tense situation in the regional environment and current challenges."

It continued, "The two parties discussed the course of bilateral relations between the two countries during the current administration, and future expectations for these relations, while stressing the need to continue good cooperation between the two countries and strengthen the partnership to serve common interests."   https://www.radionawa.com/all-detail.aspx?jimare=40311

Gold Prices Rise In The Capital Baghdad

Money and business  Economy News – Baghdad  Gold prices witnessed a rise in the wholesale markets on Al-Nahr Street in Baghdad, where the selling price of one mithqal of 21 karat Gulf, Turkish and European gold was recorded at 545 thousand dinars, while the purchase price reached 541 thousand dinars.

The selling price of one mithqal of 21-karat Iraqi gold was recorded at 515 thousand dinars, and the purchase price was 511 thousand dinars.

As for gold prices in goldsmiths’ shops, the selling price of a mithqal of 21-karat Gulf gold ranged between 545,000 and 555,000 dinars, while the selling price of a mithqal of Iraqi gold ranged between 515,000 and 525,000 dinars.  https://economy-news.net/content.php?id=49997

Oil Prices Fall Amid Production Shutdowns, War Fears

Energy   Economy News – Baghdad  Oil prices fell on Tuesday after rising the previous day due to a production shutdown at Norway's Johan Sverdrup oilfield, but investors remained cautious amid concerns about a possible escalation in the war between Russia and Ukraine.

Brent crude futures for January delivery were down 7 cents, or 0.1 percent, at $73.37 a barrel by 0119 GMT, while U.S. West Texas Intermediate (WTI) crude futures for December delivery were at $69.23 a barrel, down 7 cents, or 0.1 percent. The more active January contract for WTI was down 4 cents, or 0.1 percent, at $69.21.

“Investors remained cautious in assessing the direction of the war between Russia and Ukraine after the escalation we saw over the weekend,” said Toshitaka Tazawa, an analyst at Fujitomi Securities.

Meanwhile, supply concerns persisted due to production problems at some oil fields.

Equinor said on Monday that production from its Johan Sverdrup oilfield, the largest in western Europe, had been halted due to an onshore power outage. A company spokesman said work was underway to restart production, but it was not immediately clear when it would resume. https://economy-news.net/content.php?id=49987

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Trade: The General Population Census Will Be A Starting Point For Important Economic Transformations

Tuesday 19 November 2024 19:10 | Economic Number of readings: 45  Baghdad / NINA / The Ministry of Trade confirmed that the general population census is an important step in directing investments, which accelerate development steps in all regions of Iraq.

A statement by the ministry quoted the official spokesman for the ministry, Mohammed Hanoun, as saying: "The government's approach through conducting the general population census, despite the difficulties it faced, is aimed at attracting international efforts to the national labor market in a way that revives the economy, and gives those in charge of the economic file a clear vision of the economic reality by creating a database that represents a starting point for economic policies that aim to address the imbalance in the economic structure."

Hanoun pointed out that "the general population census step will accurately reflect the reality of human wealth and the percentage of young people, as they represent an important economic force that can be employed in the sectors of knowledge, investment, and various aspects of the economy that have the elements of advancement and development."

The official spokesman for the Ministry of Commerce confirmed that "the general population census is a statistical procedure that represents a database on the numbers of Iraqis and the nature of their work," noting that "it is the first of its kind in decades, as the last census was conducted in 1987."

He continued, "It is a developmental work, the aim of which is to direct the country's resources in the right direction, and it is a procedure that serves the country economically and socially, by addressing poverty and unemployment, identifying needy families, the number of workers and unemployed, and improving the economic situation in general. It is a "message of reassurance to citizens and the country alike, meaning that the country is now safe from saboteurs and terrorist acts, and in a position that allows it to carry out this major and important procedure.

" Hanoun confirmed that "the census will determine the actual number of residents inside the country, and those residing outside the country in cooperation with the Ministry of Foreign Affairs later, and non-Iraqis working and residing will be counted, which will contribute to limiting their numbers and knowing their living conditions."

He pointed out that "the census is the most important source of economic and social data for all countries of the world," indicating that "knowing the results of the census enables the formulation of general policies and the development of strategies related to investment, housing, education, health, and capital investment related to road and communications networks, and the development of public services and development programs, accompanied by enabling countries to distribute Budgets between administrative regions according to development needs.

He continued: "The census helps enable the private sector and investors to drive development, raise the level of urban planning, and support decision-makers in making decisions."

He explained: "The economic view of the population is limited to two aspects: The first is that the population is a consumer force that exerts pressure on the available economic resources, and that these pressures increase in intensity the more limited and unilateral the resources are." / End8

https://ninanews.com/Website/News/Details?key=1169924

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

Seeds of Wisdom RV and Economic Updates Tuesday Evening 11-19-24

Good Evening Dinar Recaps,

CHAINLINK COLLABORATES WITH MICROSOFT ON CBDC COMMISSIONED BY BRAZIL’S CENTRAL BANK

Blockchain oracle service provider Chainlink (LINK) is working on a pilot project for Brazil’s proposed central bank digital currency (CBDC) called DREX with Microsoft and other firms in the country.

In a press release, Chainlink says it is collaborating with Microsoft Brazil, digital bank Banco Inter and blockchain finance firm 7COMm to build a trade finance solution as part of the second phase of the DREX pilot.

The goal of the pilot, according to the announcement, is to “demonstrate the automated settlement of agricultural commodity transactions across borders, across platforms, and via different currencies.”

Chainlink will use its Cross-Chain Interoperability Protocol (CCIP) to create interoperability between Brazil’s Central Bank and other foreign banks using DREX, ensuring efficient transaction settlements.

The pilot also aims to tokenize an Electronic Bill of Lading (eBoL) – or receipts for cargo used by shippers and carriers – and put them on-chain using supply chain data to trigger payments to exporters.

Says Angela Walker, global head of banking and capital markets at Chainlink Labs,

“We look forward to working with the Central Bank of Brazil, Banco Inter, and Microsoft to demonstrate how the adoption of blockchain technology combined with Chainlink’s interoperability protocol CCIP can transform trade finance… Chainlink CCIP is essential to enabling secure cross-border, cross-currency, and cross-chain transactions and will help showcase what tokenized assets can do at scale for this key CBDC use case in Brazil.”

Chainlink’s CCIP technology was recently used by Swiss crypto firm Taurus in its proof-of-concept run with asset management giant State Street to tokenize funds.

Chainlink creator Sergey Nazarov recently predicted that CCIP would help real-world assets (RWAs) overtake the value of all other sectors in crypto, and become the main mechanisms that allows traditional finance to bring trillions of dollars into the blockchain industry.

“So this is kind of the world that I think we should all be preparing for, and that the Chainlink ecosystem is working towards, by both enabling DeFi to grow and be secure and reach the kind of level of reliability and guarantees that the DeFi community needs and that the TradFi community needs, and enabling the TradFi community’s value to flow onto blockchains and into the DeFi ecosystem eventually.

What this will result in, if it works as intended, is CCIP (cross-chain interoperability protocol) becoming one of the key protocols of the Internet, what we call the Internet of contracts and internet of value. Because CCIP is fundamentally the data and value transport mechanism by which that data and value flows into and across all of those chains.”

@ Newshounds News™

Source:  The Daily Hodl

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BRIAN ARMSTRONG PROPOSES US SOVEREIGN WEALTH FUND THAT PAYS AMERICANS DIVIDENDS THROUGH ELON MUSK’S D.O.G.E.

Coinbase co-founder and CEO Brian Armstrong is proposing a plan that would pay dividends to Americans while making the size of the government leaner.

Armstrong says on the social media platform X that President-elect Donald Trump’s proposed Department of Government Efficiency (DOGE) is a “once in a lifetime opportunity” to “cut the size of government back to health.”

According to the Coinbase CEO, America’s founding fathers may have failed to anticipate the tendency of politicians to promise more free stuff in an effort to get more votes.

“To future-proof this, we may need a constitutional amendment capping total government expenditure (at say 10%), or a way to align incentives.”

Armstrong says that the creation of a US sovereign wealth fund could potentially help in increasing federal government spending when necessary while curtailing expenditure over the long term.

“You’d ideally have a way to temporarily dial up burn (say in wartime), but still have the right incentives to not let spending get totally out of control longer term.

An example would be a US sovereign wealth fund, where every citizen gets a share (maybe people can buy more if they want), and any budget surplus pays a dividend.

Every citizen then has skin in the game. Maybe Congress gets a slightly larger stake.”

To support his argument for a leaner US federal government, the Coinbase CEO says,

“[Economist and Nobel laureate] Milton Friedman famously suggested the function of government be limited to:

1. Courts to enforce contracts and settle disputes.

2. Police to keep the peace at home (enforce laws, protect property rights).

3. Military for national defense.”

Billionaire tech mogul Elon Musk, who was handpicked by Trump to spearhead the Department of Government Efficiency (DOGE), responded to Armstrong saying, “Milton Friedman was great.”

Last week, President-elect Donald Trump announced he was appointing Musk and biotech entrepreneur, Vivek Ramaswamy, to lead DOGE shortly after his election. Trump said DOGE would help his administration’s quest to “dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures and restructure federal agencies.”

@ Newshounds News™

Source: The Daily Hodl

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🌱 BIG REWARDS FROM STAKING! WHAT IS IT? |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

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Q & A Classroom Link  

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Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 11-19-24

Good Afternoon Dinar Recaps,

STABLECOIN ISSUER PAXOS TO ACQUIRE FINLAND’S MEMBRANE FINANCE FOR EU ACCESS

Today stablecoin issuer Paxos said it acquired Finnish e-money institution Membrane Finance, the issuer of EURe. The deal gives Paxos a licensed e-money institution (EMI) enabling access to all EU states, subject to regulatory approval.

Paxos and its affiliates are already regulated in New York, Abu Dhabi and Singapore. Under Europe’s MiCA regulations crypto legislation, registration in one state is passported to all other member states.

Paxos is the issuer of the PayPal stablecoin (PYUSD) and its own Paxos dollar (USDP). Its UAE affiliate has issued a yield bearing stablecoin. And in Singapore it recently launched the Global Dollar Network, which will share interest revenues on the USDG stablecoin with distribution partners.

“Stablecoins offer a global solution to challenges that countless people and companies feel when it comes to money movement and payments. Stablecoins are becoming increasingly more prevalent throughout the market as more use cases emerge for everyday users, “ said Walter Hessert, Head of Strategy at Paxos. “With Membrane, we expect to extend our reach to EU customers looking to benefit from stablecoins.”

Stablecoins in the EU
In terms of other stablecoin players, Circle historically had a strong presence in Europe (Ireland). It chose France as its base for MiCAR, directly registering as an EMI.

MiCA regulations require a high proportion of reserves to be held at banks – 30% for smaller stablecoins and 60% for significant ones. Tether claims this is the reason it has not registered in the EU. However, so far it has chosen to remain offshore, avoiding jurisdictions that require it to be regulated. A large part of Tether’s stablecoin balance is on TRON, a blockchain that’s popular in Africa.

Meanwhile, MiCAR also has some quite complicated rules limiting the scale of foreign currency stablecoins in the EU. However, this is widely misunderstood, so we previously provided a deep dive on the topic.

Bank issued stablecoins are also explored as part of our Research report on tokenized deposits and DLT payments.

@ Newshounds News™

Source:  Ledger Insights

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JOHN DEATON EMPHASIZES NEED FOR MODERNISED REGULATORY FRAMEWORK, CRITICIZES SEC OVER OUTDATED LAWS

In a latest X post, the pro-XRP lawyer, John Deaton has expressed concerns over the outdated regulatory framework applied by the US SEC in response to Michael Saylor’s interview. He shared that the SEC should be focused on ‘fraud, pump and dump schemes and the bad guys.’

The Need For Modernised Regulatory Framework
He pointed out that we are essentially applying 1933 disclosure laws in 2024 to modern-day technologies like AI, Robotics, Automation, and Blockchain and that the existing disclosure laws were meant to reduce the asymmetries between those offering investments and those acquiring investments. 

He stressed that this was during a time when technologies like the internet did not exist. He asserted that the SEC should focus on clear and straightforward principles to guide the industry.

“People like Gary Gensler, Jay Clayton, and Bob Stebbins prefer the law and rules of the road to be vague. WE NEED REFORMERS AS REGULATORS LIKE Brian Brooks and Brad Bondi,” he noted.

Deaton’s remarks highlight the need for a modernized framework that accommodates emerging technologies.

Deaton’s ‘Dream Team’
Amidst the speculations of the current SEC Chair Gary Gensler’s resignation, Deaton has endorsed Brad Bondi as a suitable replacement. Deaton noted that Bondi represents a more balanced and progressive approach to regulatory oversight and voiced skepticism over other contenders, such as Bob Stebbins.

The US Treasury Secretary and the SEC Chairman are the two most important remaining positions to be filled. Deaton emphasized that these two selections must be compatible and complement each other to truly implement the America First Agenda envisioned by President Trump.

Elon Musk had recently suggested that Howard Lutnick might be the right choice for Treasury secretary but had also suggested others to provide input on who President Trump should select to be America’s next Treasury secretary.
Deaton expressed his views by stating:

“The Dream Team that would foster innovation in America, securing its place as the number one market in the world, causing an economic explosion in our capital, crypto, and IPO markets, while bolstering demand for the USD and ensuring its dominance around the world, while, at the same time, shaking things up and reforming the agencies is Brian Brooks as Treasury Secretary and Brad Bondi as SECGov Chairman.”

@ Newshounds News™

Source:  Coinpedia

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🌱 FEDERALIST TO SILVER AND VOTING  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

Economist’s “News and Views” 11-19-2024

US Bitcoin Reserve to Kick Off Q1 2025? What It Means for Price & Global Markets | Natalie Brunell

Kitco News:  11-18-2024

The United States could soon establish a Bitcoin Strategic Reserve, with Wyoming Senator Cynthia Lummis leading the push for this unprecedented move.

According to Bitcoin educator and podcast host Natalie Brunell, Lummis suggests that the U.S. convert a portion of its massive gold reserves into Bitcoin, aiming to make this transition happen "very quickly" once the new administration is in place.

This proposal, which includes acquiring one million Bitcoins over the next 20 years, could mark a turning point for the global financial landscape, potentially boosting Bitcoin's value significantly.

Brunell explores what this proposal means for Bitcoin's future, the broader macro environment, and how corporations and governments are starting to adopt Bitcoin.

Tune in as we discuss the implications of this ambitious move and how it might affect Bitcoin's trajectory in 2025 and beyond.

00:00 Introduction

00:02 Senator Lummis' Bitcoin Proposal

00:24 MicroStrategy's Record-Breaking Bitcoin Purchase

01:34 Factors Driving Bitcoin's Surge

 02:27 Bitcoin's Future and Institutional Adoption

 04:59 Risks and Concerns for Bitcoin

06:42 Strategic Bitcoin Reserve Proposal

 12:56 Political Developments and Regulatory Environment

 16:03 Michael Saylor's Bitcoin Vision

18:12 Corporate Adoption of Bitcoin

 19:24 Challenges in Bitcoin Education

21:28 Bitcoin's Future Trajectory

24:21 Conclusion

https://www.youtube.com/watch?v=AbuxDEK1GF8

Alert! FOR THE 1ST TIME IN A DECADE, THE FED'S OWN STOCK MARKET INDICATOR GOES NEGATIVE.

Greg Mannarino:  11-19-2024

https://www.youtube.com/watch?v=9fejxb-Zmd4

China’s Economic Genius Kicks U.S. Out of South America - Argentina Reveals The Truth

Sean Foo:  11-19-2024

In a shocking move, Latin America is moving closer to China. Argentina's President, Milei, has made a U-Turn, seeking to bring his economy closer to Beijing. This realization extends to the rest of the continent. China's economic genius strategy has integrated its economy in the region. As a result, the US faces almost insurmountable odds.

Timestamps & Chapters:

 0:00 Argentina's Massive U-Turn

 3:11 Economic Rescue From China

 5:47 China's Genius Strategy

 8:10 China Checkmates The US

10:56 US Lashes Out

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

“Tidbits From TNT” Tuesday 11-19-2024

TNT:

Tishwash:  Turkish Trade Minister to visit Iraq

Turkish Trade Minister Omer Bolat begins a two-day visit to Iraq on Monday, heading a delegation of contractors and businessmen.

Sources in the Turkish Ministry of Trade told Anadolu Agency that the Turkish delegation, headed by Bulat, will visit the capital Baghdad and the city of Basra on November 18 and 19.

The Turkish delegation to Iraq includes representatives of the Exporters Council, the Contractors Union, and Turkish companies.

The visit includes holding talks between businessmen in the two countries, and discussing opportunities to enhance bilateral relations with the participation of contracting companies.

Minister Boulat is scheduled to meet with Prime Minister Mohammed Shia Al-Sudani, and hold a bilateral meeting with his counterpart Athir Dawood Salman Al-Ghariri, and with Minister of Transport Razzaq Muhaibis Al-Saadawi.

Türkiye's exports to Iraq rose by 5.3 percent in the first 10 months of this year, recording $10.8 billion.

While Iraq's exports to Turkey amounted to $3.7 billion during the same period, recording a 41 percent decline, while the volume of trade between the two countries amounted to $14.5 billion during the mentioned period   link

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Tishwash:  Al-Sudani confirms Iraq's openness to achieving a serious and real partnership with Türkiye in various fields

Prime Minister Mohammed Shia Al-Sudani received today, Monday, Turkish Minister of Trade Omar Bolat, who is visiting Iraq with a large delegation of about 150 businessmen from the Exporters Council and the Contractors Union, on a working visit that includes Baghdad and Basra.

Al-Sudani stressed, in a government statement, a copy of which was received by {Euphrates News}, during the meeting: “Iraq’s openness to achieving a serious and real partnership with Turkey in various fields, especially with the government implementing a package of economic reforms that prepared the investment environment within the country,” pointing to “the government’s desire to develop the trade balance between the two countries, with the rapid growth witnessed by industry in Iraq.”

The statement added, "The meeting also discussed the meeting of the Iraqi-Turkish Economic and Trade Committee, which will hold its work in two weeks."

For his part, Polat conveyed the greetings of Turkish President Recep Tayyip Erdogan to the Prime Minister, stressing that "the growing relations between the two countries are an opportunity to proceed with what was agreed upon during Erdogan's visit to Iraq," referring to "the strategic development road project, where he expressed his country's readiness to provide all support to proceed with this important project for the region and the world."  link

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Tishwash:  COP29: Iraq rejects fossil fuels phasedown

The Parliamentary Health and Environment Committee announced on Monday the Iraqi delegation's refusal to phase out fossil fuels during its participation in the United Nations Climate Summit COP29, stressing that Iraq seeks to adapt to global environmental standards in line with local privacy.
 
The head of the committee, MP Majid Shankali, told the Iraqi News Agency (INA): "The Iraqi parliament in this session paid great attention to attending climate conferences, as we participated in COP27 and 28, and today in COP29 in Baku."
 
Shankali added that "the participation of the parliamentary delegation in the COP29 conference came to follow up the work of the negotiating delegation and keep abreast of the latest developments in the conference," noting that "the climate conference focused on important issues, most notably the gradual phasedown of fossil fuels, which is one of the main pillars of the Iraqi economy, which we completely reject."

"There is a proposal from Azerbaijan to support developing countries by oil countries, but this proposal was rejected, because most oil-producing countries are themselves developing countries," he said. 

 He pointed out that "the active political presence of the President of the Republic, undersecretaries of ministries and executive bodies, in addition to the legislative support of the Iraqi parliament, strengthens Iraq's position in these conferences, especially since it will assume the presidency of the G7 Plus summit with China in the next session." 

 The President of the Republic, Abdul Latif Jamal Rashid, participated in the United Nations Climate Summit COP29, which was held in the Azerbaijani capital Baku from November 12 to 13, which was attended by a large number of United Nations member states in addition to governmental and non-governmental organizations. link

Mot: .. and meanwhile - Back in 1914!!! 

Mot: .... So, what do we do now, little guy?"  ding dong ditch

One day, a policeman is strolling down the street when he notices a tiny boy standing in front of a house, desperately trying to reach the doorbell. The boy, however, is too small, and the doorbell is just out of his grasp.

The policeman watches for a moment, amused, before walking over. Gently placing a hand on the boy's shoulder, he leans forward and rings the doorbell for him with a quick press.

Squatting down to the boy’s level, the policeman grins and asks, "So, what do we do now, little guy?"

The boy looks up with a mischievous smile and replies, "Now we run!"

Iraq Economics News and Points to Ponder Tuesday AM 11-19-24

Gold Smuggling...A Double Threat To The Economy And The Iraqi Dinar
 
November 18, 2024  Baghdad/Iraq Observer  The smuggling of Iraqi gold represents the latest chapter in the money laundering  operations that the country is suffering from, as the Iraqi authorities were recently able to thwart an attempt to smuggle large quantities of gold through Baghdad International Airport, at a time when the Federal Integrity Commission announced intervention and opened an investigation into the case.
 
The head of the Integrity Commission, Muhammad Ali Al-Lami, announced the directive of the legal department in the commission to open a comprehensive investigation into the attempt to smuggle gold via one of the Iraqi Airlines planes.

The commission confirmed that the case is one of the largest cases of financial and administrative corruption, stressing the importance of following up the case in all its details and taking action.
 
Necessary actions.
 
For its part, the Border Ports Authority indicated that “the attempt was foiled after the discovery of 13 gold bars with a total weight of 13.7 kg, which were carefully hidden in the weighing hall at Baghdad Airport,” explaining that
 
“the bars were discovered using modern baggage detection devices, and it confirmed that the investigations We are continuing to identify those responsible for this attempt.
 
In turn, legal expert Ali Al-Tamimi confirmed that  “Money Laundering Law No. 39 of 2015 imposes penalties of up to 20 years in prison and fines that are not less than the value of the smuggled money, and may reach five times that.”

Al-Tamimi added to “Iraq Observer” that  “Iraq can sue countries that contribute to destabilizing its economy, based on Articles 1, 2, and 3 of the United Nations Charter, which gives Iraq the possibility of resorting to the United Nations and the International Court of Justice to protect its economic interests.”
 
Reports and analyzes indicate that gold smuggling in Iraq is no longer an individual issue, but has become part of an interconnected corruption system supported by influential parties, as these operations are exploited to feed the black market and weaken the national economy.
 
Specialists believe that the continuation of this phenomenon represents a direct threat to national resources, as smuggling operations are no longer limited to gold only, but also  include oil and currencies,  which increases the economic crisis in the country.

Innovative methods
 
In turn, Member of Parliament Alia Nassif confirmed that “gold smuggling operations are conducted using innovative methods,” warning that   these operations aim to systematically destroy the Iraqi economy.

She pointed out that  large quantities of local and imported gold are melted down and converted into bullion to be smuggled abroad, which opens the way for money laundering and financing illegal operations.
 
Nassif called on the regulatory authorities and the Central Bank to   
     trace the sources of funds used to buy gold and   
     ensure the validity of the procedures followed at border crossings and customs.

She also stressed the need to investigate how funds are transferred through the currency sales window and their role in financing these operations, stressing that these financial crimes do not threaten Not only national wealth,  but also increases the exchange rate gap between the official market and the parallel market.    https://observeriraq.net/تهريب-الذهب-خطر-مزدوج-على-الاقتصاد-وال/   

Rusli Al-Maliki: This Is How Citizens Can Be Encouraged To Benefit From Their Cash Savings That They Are Afraid To Deposit In Banks.
 
November 15, 2024  Baghdad/Iraq Observer  Rusli Al-Maliki: This is how citizens can be encouraged to benefit from their cash savings that they are afraid to deposit in banks.
 
 [approximate translation of video]
 
Peace be upon you, followers of Iraq and Buzz. 
Iraqi financial institutions complain about the hoarding of citizens’ money in their hands and in their homes instead of putting it in banks.
 
Iraqi banks, for Iraqis, are not trustworthy.   The bureaucracy and the backward system of banks do not leave an opportunity to put Iraqi money in citizens’ money, but there is another way.
 
This money can appear in a way that benefits the country and provides job opportunities. 
Large taxes must be imposed on the country, which is by expanding cities outward.
 
This is done through ring roads, extending the infrastructure, and selling land to citizens, land that is suitable for housing or divided as housing.
 
Here, this money will go out to work in the field of investment, in the field of contracting, in the field of construction, and in selling and buying.

The country will find itself with large amounts of money that have come out of pockets and homes and have been put in this field.  
This will provide large job opportunities.  
This will provide good taxes for the state.  
This will provide pressure relief on cities and the state.
 
What you will spend on infrastructure you will get through the taxes on the white goods and the purchases that you take.

There is more than one solution to benefit from this money.  
We only need urban planning and city expansion. 
Thank you.

Watch the video below:
 
https://youtu.be/0Z89Jag0D3I?si=7TO4x1QgKiKe5AfM
 
https://observeriraq.net/رسلي-المالكي-هكذا-يمكن-تشجيع-المواطني/

The Central Bank Organizes A Symposium In Cooperation With The University Of Mosul
 
November 18, 2024   Within the framework of   
     seeking to develop the educational environment and
     enhance academic and financial cooperation in raising community awareness and on the
     importance of banking compliance,
 
the Central Bank of Iraq / Mosul Branch organized a scientific symposium in cooperation with the Department of Banking and Financial Sciences at the College of Administration and Economics, University of Mosul.
 
 The symposium was titled (Compliance and its role in reducing money laundering operations) in which a number of government and private banks in the governorate participated, in addition to the teaching staff at the university.
 
The attendees stressed the importance of the symposium, which was devoted to the vocabulary of compliance  because of its repercussions on the stability of the financial system, which in turn helps. In protecting the national economy of Iraq.
    
 Central Bank of Iraq      Media office      November 18, 2024   https://cbi.iq/news/view/2713   

Delete The Zeros And Evaluate The Dinar 
Economical 11/18/2024  Ali Daadoush  We explained, in a newspaper column a while ago, the concept of deleting zeros, and today we are talking about the concept of currency revaluation, which means a calculated upward adjustment of the official exchange rate of a country relative to the chosen baseline, as the baseline can include (wage rates, the price of gold, or specific foreign currency), and revaluation is the opposite of devaluation of a currency.
 
In the fixed exchange system (the system followed by Iraq), only a decision from the state (the central bank) can change the official value of the currency, and
 
developing economies are likely to use the fixed exchange system in order to limit speculation and provide a stable monetary system in the country.
 
In a flexible exchange system, revaluation occurs on a regular basis, as evidenced by noticeable fluctuations in the foreign exchange market and associated exchange rates.
 
For example, the United States continued to apply a fixed exchange rate until 1973, when President Richard Nixon decided to withdraw the United States from the gold standard and switch to a flexible exchange rate system.
 
As for China, although it has an advanced economy, Its currency remained stable until 1994, before the Chinese government re-evaluated its currency in 2005, which was linked to the US dollar. After this re-evaluation, it was linked to a basket of currencies. Universality.
 
The decision to revalue the local currency affects the economy in general, as it affects both the currency being examined and the valuation of assets held by foreign companies in this particular currency.
 
Given that revaluation has the ability to change the exchange rate between two countries and their currencies, the values ​​may have to be adjusted. The carrying amount of assets owned abroad to reflect the effect of a change in the exchange rate.
 
For example, let us assume that a foreign government sets (10 units) of its currency as equivalent to one dollar in US currency. To revalue its currency, the government may change the price to (5 units) per dollar.   
This results in its currency becoming twice as expensive when evaluated in US dollars compared to what it was. It was previously.
 
If the above currency revaluation occurs, any assets held by a US company in the foreign economy must be revalued.
 
If the value of an asset held in a foreign currency was previously valued at $100,000 based on the old exchange rate, the revaluation would require a change of $200. One thousand US dollars.

This change reflects the new value of the foreign asset in the local currency by adjusting the revaluation of the currency in question.
 
Another example is what the Iraqi government did in 2023 when it raised the value of the Iraqi dinar from 1,450 dinars/dollar to 1,300 dinars/dollar.   https://alsabaah.iq/106053-.html   

Economic: Re-Exporting Kurdistan Oil Will Cause Iraq To Lose $5 Billion And A Budget Deficit
 
Economy ​ 11-16-2024, 13:09 | Baghdad today – Baghdad  Economist Nabil Al-Marsoumi confirmed today, Saturday (November 16, 2024), that re-exporting Kurdistan’s oil will cause Iraq to lose $5 billion, while noting that  it will cause a budget deficit.
 
Al-Marsoumi said in a post on Facebook, followed by Baghdad Today, that the Kurdistan Petroleum Industry Association (APIKUR) welcomed the proposal to amend Article 12 of the Budget Law,
 
but believes that there is sufficient scope in the current wording to cover its previous requests related to commercial conditions and guaranteeing payment. Payments for past and future exports through the Iraqi-Turkish oil pipeline.”

He added,  "The amendment stipulates that the Federal Ministry of Finance shall compensate the Government of Kurdistan from sovereign expenditures for the costs of production and transportation, for the quantities of oil produced in the region that are received by (SOMO), or the Federal Ministry of Oil, provided that the fair estimated costs of production and transportation are calculated for each.

" Field by field, by a specialized international technical advisory body, determined by the Federal Ministry of Oil in agreement with the Ministry of Natural Resources in the region,” indicating that
 
“production and transportation costs are compensated by the Federal Ministry of Finance.” As an advance, at a rate of $16 per barrel, it will be settled later after the completion of the specialized technical consultant mentioned above, and retroactively from the date of commencement of delivery.”

Al-Marsoumi continued,  “According to the results of Deloitte’s audit for previous years, the region was only receiving 44% of oil revenues, and
 
the rest is received by foreign oil companies to cover the costs of production, transportation, marketing, and the profits of foreign companies, which are specified in most contracts at 20% of oil profits after deducting costs.” amounting to 40% of the price of a barrel of oil to recover part of the costs incurred by foreign companies when investing in the oil sector in Kurdistan.

He explained,  "In light of these facts and because of Iraq's commitment to OPEC Plus restrictions, the amount of Kurdistan's exports amounting to 400 thousand barrels per day will require reducing the same amount from the central and southern fields, which will lead to a decline in oil revenues by about 5 billion dollars annually,
 
which means an increase in the budget deficit by the same amount due to... Differences in costs and profits of foreign companies and the lower quality of Kurdistan’s oil.”

He stated,  "The solution lies in Iraq's request to OPEC Plus to exempt it from the mandatory and voluntary cuts imposed on the production quota so that there is an economic feasibility in re-exporting oil from Kurdistan." 
 
https://baghdadtoday.news/262139-اقتصادي-إعادة-تصدير-نفط-كردستان-سيؤدي-لخسارة-العراق-5-مليارات-دولار-وعجز-بالموازنة.html   

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

Seeds of Wisdom RV and Economic Updates Tuesday Morning 11-19-24

Good Morning Dinar Recaps,

PHILIPPINES TO DISTRIBUTE TOKENIZED GOVERNMENT BONDS VIA GCASH WALLET, PDAX CRYPTO EXCHANGE

The Philippines government is about to embark on the next phase of its government bond tokenization path. Last year it tokenized bonds targeting institutional investors. That was followed by releasing 90 day Treasury Bills available to retail investors.

Now the Bureau of the Treasury is planning to distribute longer term tokenized Treasury Bonds, or GBonds, in December targeting consumers.

Its primary distribution mechanisms will be via GCash and PDAX. GCash is the wallet app that has been used by 94 million people and was recently valued at $5 billion.

Ant, the owner of Alipay owns around a third of GCash parent Mynt and MUFG owns 8%. PDAX is a cryptocurrency exchange with around four million users that has already been distributing the Treasury Bills, with a minimum investment of 500 pesos ($8.52).

“We envision a future where investing in government bonds is no longer a luxury but a new normal for Filipinos — with just a few swipes away and as easy as ordering their favorite food delivery,” said Ralph Recto, the Philippines Secretary of Finance. “This empowers our people to effortlessly secure their future, all from the comfort of their homes.”

The government news agency said Recto called for GCash and PDAX to speed up the launch.

The country already has retail government bonds, but the minimum investment is ten times higher at 5,000 pesos. PDAX, who we suspect is providing the tokenization technology, says one of the key benefits is reducing the administration costs to support the smaller denominations.

In 2020, the government first explored using blockchain for retail government bonds and launched the Bonds.PH app in collaboration with UnionBank. Back then, the bank also partnered with PDAX for the blockchain aspect.

Other tokenized government bonds
Issuing tokenized government bonds as digital twins, or natively digital bonds, is becoming increasingly popular, although most still target institutions. Slovenia became the first European state to issue a digital bond, and the UK is planning one in the next two years. The largest digital government bod so far was a multicurrency green bond issuance worth $756m by Hong Kong.

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

IOTA announces network upgrade for more real-world adoption

The IOTA Foundation has announced a sweeping upgrade to its blockchain network, aiming to improve scalability, decentralization, and real-world use cases.

Dubbed “IOTA Rebased,” the proposal will transition IOTA’s Layer 1 network to a Move-based object ledger, introducing programmability and enabling tens of thousands of transactions per second.

If approved by token holders, the upgrade will mark a shift to a delegated proof-of-stake mechanism with 150 permissionless validators to secure the network.

This move will replace IOTA’s (IOTA) existing architecture with a decentralized structure, allowing for faster and more secure transactions. 

The proposal also incorporates the Move programming language, enabling smart contracts directly on the Layer 1 network. 

This feature is designed to expand IOTA’s application in industries such as supply chain tracking, asset tokenization, and digital identity systems, according to the company.

IOTA has created a governance post so the community can discuss and debate the protocol upgrade. The vote will officially go live on December 2.

In August, IOTA introduced a blockchain-based tool to simplify music rights management in the film industry. Developed under the European Blockchain Pre-Commercial Procurement initiative, the tool aims to streamline negotiations and secure intellectual property rights.

Move ecosystem merge
Joining the Move ecosystem alongside platforms like Sui and Aptos, IOTA aims to leverage MoveVM’s capabilities while becoming the first Layer 1 network to adopt this architecture.

The IOTA Foundation has launched a Move-based testnet to showcase the upgrade’s potential, accompanied by tools for developers, including a browser wallet extension and updated documentation.

The economic model under the proposed system introduces staking rewards and a dynamic token supply. Validators and delegators will earn newly minted IOTA tokens with an initial annual inflation rate of 6-7%, translating to a projected 10-15% annual return for stakers, according to the company release.

This model aims to incentivize network participation while maintaining fair tokenomics through mechanisms like fee burning.

“This upgrade could significantly accelerate our adoption efforts by introducing programmability and full decentralization to IOTA. We believe this proposal has the best chance of delivering value for the IOTA ecosystem.”  —  Dominik Schiener, Co-Founder and Chair of the IOTA Foundation.

With the Rebased proposal, IOTA seeks to strengthen its position as a leading blockchain infrastructure, focusing on bridging decentralized technology with practical, real-world applications.

@ Newshounds News™

Source:  Crypto News

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MilitiaMan & Crew-News-Report-Census-Global Transparency-Budget-Trade-Banking-Delete the Zeros Exchange rate news

MilitiaMan & Crew-News-Report-Census-Global Transparency-Budget-Trade-Banking-Delete the Zeros Exchange rate news

11-18-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

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

https://www.youtube.com/watch?v=3tK9TIKRoTY

Seeds of Wisdom RV and Economic Updates Monday Evening 11-18-24

Good Evening Dinar Recaps,

GAMETA AND ROBIN ECOSYSTEM PARTNER TO ADVANCE WEB3 PAYMENT SOLUTIONS

Gameta, a top player in the GameFi market, has commenced an exclusive strategic collaboration with Robin Ecosystem. As per Gameta, the partnership intends to increase Web3 adoption with the merger of advanced payment technologies and gaming innovation. The platform disclosed this endeavor on its official X account.

Gameta’s Collaboration with Robin Ecosystem Marks a Revolution in Web3 Payments
In a recent post, Gameta mentioned that its collaboration with Robin Ecosystems focuses on revolutionizing Web3-based payment solutions.

In this respect, this development increases the accessibility of GameFi and DeFi to a wider audience. Robin Ecosystem has obtained a significant position in the market with its inclusive payment platform. It has integrated its Robin Wallet with a social empowerment instrument Zapry.

By merging the social interaction capabilities and payment solutions, it targets offering a broad forum for Web3 exposure.

Gameta deals with blockchain-based gaming and GameFi. The latest partnership thereof with Robin Ecosystem serves as an opportunity to broaden its access and provide improved payment features.

The collaboration will potentially fortify the gaming ecosystem of Gameta with the integration of Robin Wallet’s consumer-friendly payment solutions. This enables streamlined transfers for rewards and purchases within the games.

Moreover, Zapry’s integration could also improve community engagement and player interaction, making the GameFi experience more immersive.

The Partnership Leads to the Next Wave of Growth in Blockchain Gaming
In line with Gameta’s announcement, the partnership mirrors a wider trend of ecosystem collaborations across the Web3 sector. By filling the gap between payment solutions and gaming, Robin Ecosystem and Gameta are paving the way for the next growth rally for blockchain gaming.

@ Newshounds News™

Source:  Blockchain Reporter

~~~~~~~~~

XRP NEWS: LEGAL EXPERT SAYS SEC’S LATEST APPEAL HAS NOTHING TO DO WITH $125 MILLION PENALTY

Ripple has come a long way since its early days when reaching $1 seemed impossible. Now, with XRP surging past $1, some are even predicting that it could reach previous ATHs at $3.30. While this may sound far-fetched, recent rumors of SEC Chair Gary Gensler’s resignation and Ripple’s potential victory in its legal battle with the SEC have fueled speculation that XRP’s future could be brighter than ever.

Although Gensler’s resignation is still unconfirmed, the mere rumor has sparked a wave of optimism across the crypto space, with many hoping it signals a shift in the SEC’s stance on digital assets.

 If true, it could open the door to greater adoption and investment in Ripple’s XRP. As the momentum continues to build, many are now watching closely to see if this rally is just the beginning of something much bigger for XRP.

Amid the uncertainty, one user claimed that the only remaining issue in the case is the settlement fee, with the SEC seeking more than $125 million. The user also claimed that XRP has already won the key point: it was ruled not to be a security.

But former SEC lawyer Marc Fagel disagreed, saying this view is inaccurate. He explained that the appeal isn’t about a “settlement fee,” as there’s no such thing. Instead, the SEC is appealing the ruling on programmatic sales, while Ripple is cross-appealing the decision on institutional sales.

Fagel wrote, “That’s not remotely accurate, sorry; the appeal has nothing to do with the penalty (there’s no such thing as a “settlement fee”). The SEC is appealing the liability finding for programmatic sales; Ripple is cross-appealing liability for institutional sales.”

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

SWIFT AND CHAINLINK UNLOCK GLOBAL ACCESS TO TOKENIZED ASSETS ACROSS 200+ COUNTRIES

▪️Chainlink and SWIFT will power tokenized fund recovery with a new solution.

▪️With defined roles from both firms, this solution can remove inefficiencies in the mutual fund market.

Building on their existing partnership, Chainlink (LINK) and SWIFT continue to push forward for the global adoption of Real-World Asset (RWA) tokenization. Chainlink, SWIFT, and UBS Asset Management recently highlighted their ongoing tokenization efforts via the Monetary Authority of Singapore’s (MAS) Project Guardian initiative.

How Institutions Can Access Tokenized Asset
Specifically, Chainlink, SWIFT, and UBS have unveiled an innovative pilot for settling tokenized fund subscriptions and redemptions. The solution will enable over 11,500 financial institutions across 200 countries to settle digital asset transactions, particularly tokenized funds.

How can 11,500+ institutions across 200+ countries access tokenized assets?@swiftcommunity, @UBS Asset Management, and #Chainlink showcase their major @MAS_sg Project Guardian work around tokenized fund settlement—a solution that is “extremely practical for commercializing” ↓ pic.twitter.com/U0zSp7RwDi  —  Chainlink (@chainlink) November 7, 2024

This latest advancement uses existing SWIFT infrastructure and Chainlink’s platform to settle fund subscriptions and redemptions. It calculates the preconditions for automatically minting or burning fund tokens for the UBS tokenized investment fund. This technique can improve operations and remove costly inefficiencies across the $63 trillion global mutual fund market.

During a panel session, Andrew Wong, Executive Director at UBS Asset Management, noted that SWIFT and Chainlink have facilitated the automatic minting and burning of UBS tokenized fund tokens.

 He said the integration with SWIFT and Chainlink aims to enhance the payment efficiency of the UBS tokenized investment fund.

In a workflow chart, SWIFT Director Giles Goh explained how SWIFT acts as a transfer bridge for USB’s tokenized fund. He noted that the SWIFT transaction manager will implement a program-scheduled task to retrieve pending subscriptions and redemption from smart contracts.

Chainlink then receives the subscription details, such as the amount and funds distributor ID. 

This is key to ensuring the entire flow from the USB-tokenized fund, Digital Transfer Agent (DTA), and Chainlink to the SWIFT network is coherent. Once the transactions come back down, SWIFT triggers a payment initiation or request.

The fund distributor receives this information and initiates a payment converted to a trackable inter-bank payment over SWIFT UETR. Payment fund delivery is confirmed through the SWIFT network and GPI tracker status update. Next, SWIFT triggers subscription and redemption state closure based on proof of funds delivery.

Chainlink calls the subscription redemption functions in the DTA through its Cross Chain Interoperability Platform (CCIP). Finally, CCIP sends and mints the tokens, fulfilling the entire redemption process. Chainlink’s co-founder Sergey Nazarov commented that the pilot opens up a universe of users, which will likely make the fund more successful.

LINK’s Price and Prediction
Meanwhile, Chainlink’s native asset, LINK, continues to move upward, following in Bitcoin’s footsteps.

At press time, LINK price was trading at $14.65, up 3.09% in the last 24 hours and 28.3% in the past 30 days. However, the daily trading volume decreased by 34.6% to $556.6 million, suggesting likely reduced investor interest in the short term.

@ Newshounds News™

Source:  Crypto News Flash 

 ~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Monday Afternoon 11-18-24

Good Afternoon Dinar Recaps,

RLUSD IS HERE: RIPPLE’S OPERATIONALLY READY STABLECOIN UNVEILED

Ripple has just reached an important milestone, with its President Monica Long confirming that the company’s new stablecoin, RLUSD, is ready for use. This stablecoin is designed to complement Ripple’s main token, XRP, by offering a steadier and more reliable option for people in the crypto world.

Long shared this news during her appearance on The Scoop, where she explained how RLUSD could improve Ripple’s payment solutions. The idea behind RLUSD is simple: it gives users a way to trade tokenized U.S. dollars on the blockchain, helping them avoid the unpredictable volatility that is common in the crypto market.

fits into a larger shift in the crypto market. Long mentioned that countries in Latin America have shown a growing interest in stablecoins tied to the dollar. 

Europe and Asia are also seen as areas for growth. Ripple plans to offer stablecoins not just in U.S. dollars but also in other currencies like the euro and Singapore dollar.

“Back from a fantastic week at Singapore FinTech Festival, on and off stage, everyone was talking about stablecoins,” Long shared on Twitter. She also pointed out that the increasing demand for reliable, USD-based stablecoins is what’s driving Ripple’s entry into this market.

Besides meeting market demand, Ripple also hopes to attract developers who can create decentralized apps on the XRP Ledger. By offering RLUSD on the XRP Ledger, Ripple is opening up new possibilities for the decentralized finance (DeFi) sector, offering a strong foundation for developers to innovate and grow.

Ripple has already processed over $70 billion in transactions using blockchain technology, showing the rising demand for its services. While XRP is designed for fast, high-volume transactions, RLUSD will serve users who need stability, especially in markets that value clear regulations and financial security.

Ripple’s RLUSD Regulatory Journey
Launching a stablecoin comes with a big challenge: following the rules set by regulators. Ripple is being careful with RLUSD, making sure it checks all the right boxes before it goes live.

The company has already started addressing concerns, like getting a license from New York’s Department of Financial Services (NYDFS) through its purchase of Standard Custody.

RLUSD will be fully backed by reserves, including short-term U.S. Treasury bonds, dollar deposits, and cash equivalents. Ripple has committed to monthly attestations of its reserves, which will be verified by the San Francisco-based accounting firm BPM. This transparency is crucial for gaining the trust of both regulators and users.

Ripple’s RLUSD will be fully supported by reserves, such as short-term U.S. Treasury bonds, dollar deposits, and cash-like assets. Ripple has promised to confirm the status of its reserves each month. An accounting firm from San Francisco, BPM, will verify these reports.

In a recent interview on CNBC’s Street Signs Asia, Long expressed confidence about the future of stablecoins. She highlighted their potential, especially for payments and cross-border transfers. Long believes the stablecoin market will continue to grow, with more coins tied to different fiat currencies.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

BLACKROCK’S BITCOIN ETF OPTIONS SET TO LAUNCH TOMORROW

Nasdaq prepareS for the launch of iBIT options, signaling a key milestone for Bitcoin ETFs.

▪️BlackRock's iShares Bitcoin Trust options will begin trading tomorrow.

▪️iBIT has $43 billion in AUM, with Bitcoin ETF trading volumes surging post-Trump’s election win.

BlackRock’s iShares Bitcoin Trust (IBIT) options are set to begin trading tomorrow, according to Alison Hennessy, head of ETP listings at Nasdaq.

In a statement today, the Options Clearing Corporation (OCC), the world’s largest equity derivatives clearing organization, confirmed its readiness to clear and settle options for spot Bitcoin ETFs, such as the BlackRock’s iShares Bitcoin Trust (iBIT).

The statement referenced key developments, including the SEC’s approval on September 20 to allow options trading for the iBIT Trust and the CFTC’s November 15 staff advisory on clearing options for spot commodity ETFs.

Following the announcement, Bloomberg Senior ETF Analyst Eric Balchunas stated it’s “a matter of when, not if.”

Hours later, Alison Hennessy, Nasdaq’s Head of ETP Listings, said on ETF IQ that iBIT options could be listed as soon as tomorrow.

BlackRock’s iShares Bitcoin Trust has already established itself as a major player in the crypto space since its launch in January.

The ETF has amassed $43 billion in assets under management (AUM) and holds nearly 472,000 Bitcoin, reflecting robust institutional demand.

This announcement comes as Bitcoin ETF trading volumes have surged, ranging between $3 billion and $7 billion throughout November.

The uptick coincides with Donald Trump’s victory as the 47th US president, following his widely expected reelection win on November 6.

This renewed optimism mirrors the early-year momentum seen during the launch of spot Bitcoin ETFs in January, when trading volumes ranged between $4 billion and $12 billion before declining in Q2 and Q3.

@ Newshounds News™

Source:  Crypto Briefing

~~~~~~~~~

GOLDMAN SACHS PREPARING TO LAUNCH ITS DIGITAL ASSETS PLATFORM: BLOOMBERG

According to a latest Bloomberg report, Goldman Sachs is preparing to launch a new company focused on its digital assets platform. It is speaking with potential partners as it plans to spin out its digital-assets platform into a new company for large financial firms to create, trade and settle financial instruments through blockchain technology.

Spin Out In 12-18 Months
While the Plans for the new company are in the early stages, but the long-term goal is to execute the spin-out within the next 12 to 18 months, subject to regulatory approvals, noted Mathew McDermott, Goldman’s global head of Digital Assets.

“It’s in the best interest of the market to have something that is industry-owned,” he stated. Electronic trading platform Tradeweb Markets Inc. is its first strategic partner that will work with Goldman to bring new commercial use cases to the digital assets platform. This reflects a growing trend among large institutions to integrate blockchain technology into traditional financial systems.

Goldman’s move mirrors a broader industry trend, where major financial institutions and governments are embracing blockchain technology to enhance the efficiency of traditional asset trading and settlement processes.

In another initiative, Goldman is looking to support secondary transactions in private digital asset companies for its clients. This could make it easier for family offices and other clients looking for liquidity while also allowing buyers to take advantage of private market discounts. The firm also noted that it is preparing to resume its Bitcoin-backed lending activities.

“If you are trying to build out a scalable marketplace, you want to have the right strategic participants embracing this technology,” McDermott said. “You want a number that is nimble enough to operate, driven by the commercial use cases.”

Goldman Sachs Bullish On Bitcoin
Goldman has maintained a bullish stance on Bitcoin throughout the year. In a Nov. 14 filing with the SEC, Goldman Sachs reported about $718 million in holdings in eight Bitcoin ETFs. It has added $300 million to its Bitcoin ETF portfolio since the second quarter, marking a 71% increase. It has also planned to launch three tokenization projects by the end of this year.

@ Newshounds News™

Source: Coinpedia  

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Source:  Seeds of Wisdom Team RV Currency Facts

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