Seeds of Wisdom RV and Economic Updates Monday Morning 12-09-24

Good Morning Dinar Recaps,

RIPPLE CEO ON 60 MINUTES: GARLINGHOUSE OPENS UP ON $150 MILLION SEC FIGHT, CRYPTO WAR AND MORE

Ripple CEO Brad Garlinghouse appeared in an interview on 60 Minutes, airing on December 8, 2024, where he discussed the company’s ongoing legal fight with the U.S. Securities and Exchange Commission (SEC).

Garlinghouse criticized the SEC’s approach, stating that it was a key reason why Ripple and two other companies formed the industry super PAC, FairShake, to fight back against what he described as a “war on crypto.” He suggested that FairShake might not have existed if the SEC had a different chairman than Gary Gensler.

When an SEC spokesperson said that the amount spent by the crypto industry on legal defense is minimal compared to the losses investors have faced due to frauds and market failures, Garlinghouse revealed Ripple’s financial contributions, revealing that the company has spent over $150 million fighting the SEC’s stance on XRP.

He said that Ripple argues XRP should not be treated like a stock and be subject to the same registration and disclosure requirements. Garlinghouse stressed that Ripple is not seeking to be deregulated but instead asking for clear regulations from Congress to address the unique nature of digital assets.

“I went to Harvard Business School. I think I’m reasonably intelligent about something like, “What is a security?” So never once had I considered the possibility– that, “Okay, maybe XRP’s a security. We haven’t been asking to be deregulated. We’ve been asking to be regulated. So we have been saying, “Hey, look, just give us clear rules of the road,” he said.

XRP Price Reacts:

XRP, Ripple’s cryptocurrency, is currently experiencing a surge, approaching the $2.60 mark. At the time of writing, it was trading at $2.55, a 4.5% increase. Investors are optimistic about the future of the crypto industry, especially under a potential Trump presidency, as Ripple’s blockchain-based payment system continues to gain attention.

Previously, XRP’s price saw a boost following speculation about a possible meeting between Garlinghouse and President-elect Trump, as well as news about SEC Chairman Gary Gensler’s resignation.

@ Newshounds News™

Source:  Coinpedia

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HONG KONG TO INTRODUCE STABLECOIN FRAMEWORK

Hong Kong is establishing a bill that outlines a detailed framework for stablecoin issuers and marketers.

Under the proposed framework, stablecoin issuers and marketers must secure licenses from the Hong Kong Monetary Authority (HKMA). 

The rule applies to all stablecoins, including those pegged to the Hong Kong dollar, while issuers are required to maintain reserve assets in local banks. Foreign custody might also be allowed by HKMA under specific conditions.

New compliance measures will be implemented, such as a minimum paid-up capital requirement of HK$25 million, as well as proof of robust financial health, sufficient liquidity, and risk management frameworks. Misrepresentation or false promotion of stablecoins is explicitly prohibited.

HKMA has also further expanded its authority to oversee, investigate, and enforce compliance.

The Stablecoins Bill will be introduced into the Legislative Council for a first reading on December 18.

“The legislative proposal is essential for Hong Kong in fulfilling our obligations as a member of the Financial Stability Board,” Christopher Hui Ching-yu, Secretary for Financial Services and the Treasury, said in a statement.

“This risk-based proposal aims to promote a robust regulatory environment, which is in line with Hong Kong’s approach to virtual-asset development.”

Hong Kong's bill positions it as an early mover alongside the EU and Japan. In July, Circle, the issuer of the USD Coin (USDC) and Euro Coin (EURC) stablecoins became the first global stablecoin issuer to achieve compliance with the European Union's Markets in Crypto-Assets (MiCA) regulatory framework.

In June, the Japanese parliament enacted a law recognizing stablecoins as a form of digital currency. According to the legislation, stablecoins must be tied to the yen and ensure holders can redeem each token at its full face value.

Hong Kong has made significant strides in an attempt to establish itself as a crypto-friendly regional hub. Just last month, Hong Kong proposed waiving crypto tax for wealthy individuals in an attempt to strengthen its position as a leading regional crypto hub.

In a 20-page proposal, the Hong Kong government said the tax exemption would apply to private equity funds, hedge funds, and the investment vehicles of wealthy individuals on cryptocurrency gains, private credit investments, and other asset classes.

@ Newshounds News™

Source:  BlockHead

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Mason afternoon chat  |  Youtube

Enlightenment/Spiritual growth ~ Mason explains how the government instilled racial divisions and how the UNIVERSE can bring different ethnic groups together to live in harmony.

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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News, Rumors and Opinions Monday AM 12-9-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Mon. 9 Dec. 2024

Compiled Mon. 9 Dec. 2024 12:01 am EST by Judy Byington

EBS Alert
A Final Countdown Has Begun
Major Announcements Will Shake the Foundation of Everything You Know
Stay Calm, Stay Vigilant, Be Ready To Listen
Communication Blackouts As Truth is Revealed
Stock Up, Stay Safe, Trust The Plan
The Dawn Of Freedom Is Near

Get Ready For Ten Days of Communication Darkness
The Power to entire World will switch off briefly to install our Starlink Satellite Internet
Shutdowns will occur, but only in certain areas. Banks will close. ATMs and Credit Cards will stop working. Have at least a month’s supply of food, water, cash, medicine and essential items on hand for yourself, your family and to share with others in case of emergency.

Possible Timing:

Judy Note: No one knows the exact timing for notification of Tier 4b (Us, the Internet Group) to make their redemption/exchange appointments, though because of the below information, it was suspected to be around mid next week.

(Rumor): Sun. 8 Dec. 2024 Midnight to Wed. 18 Dec. 2024: Possible Ten Days of Darkness Global Communication Blackout, ending on Wed. 18 Dec. 2024. …G***o TV on Telegram Tues. 3 Dec. 2024

Tues-Wed. 17-18 Dec. 2024: Global Financial Collapse. …G***o TV on Telegram Tues. 3 Dec. 2024

Thurs. 26 Dec. 2024: Announcement of the Global Restoration Plan. Every citizen will receive information about the new economic and legal structures. …Mr. Pool, Julian Assange on Telegram Wed. 4 Dec. 2024

Mon. 30 Dec. 2024: Final stages of the transition to the new financial system completed. People will begin to access their revalued currencies and debt relief programs. …Mr. Pool, Julian Assange on Telegram Wed. 4 Dec. 2024

Wed. 1 Jan. 2025: Basil 4 compliance deadline January 2025 – all banks have to prove the money they say they have is backed by gold in their vault. A new era of Freedom and Prosperity officially begins. …Mr. Pool, Julian Assange on Telegram Wed. 4 Dec. 2024

Fri. 3 Jan. 2025: Global Unity announced as former Alliances restructure. Leaders will present plans for long term peace and cooperation across nations. …Nesara/Gesara on Telegram 5 Dec. 2024

Sun. 5 Jan. 2025: Release of advanced technologies previously suppressed. Free energy devices, healing technologies and environmental restoration tools will be made available to the public. …Nesara/Gesara on Telegram 5 Dec. 2024

Mon. 6 Jan. 2025: The Quantum Financial System (QFS) will officially be activated Worldwide. This secure, transparent and decentralized system will replace the old banking structure, ensuring fairness and equality for all …Nesara/Gesara on Telegram 5 Dec. 2024

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Global Currency Reset: (RUMORS)

Judy Note: WARNING Scammers are everywhere. It is my understanding that:

(1) If you don’t presently physically hold currency or bonds, you don’t own them. Do not give your bonds or currency to anyone else to redeem. You are the only one who can exchange and redeem them. If you have a problem in doing that, ask the person you talk to when you set your appointment to help work out the problem.

(2) Do not exchange your currency at a bank. They will not give you the higher rates, nor the Contract Rates that a Redemption Center was authorized to give you.

(3) The Zim can only be redeemed at a Redemption Center, not at a bank.

(4) Some Redemption Centers are located in private banks, but make sure it is a Redemption Center where you do your business.

Fri. 6 Dec. 2024 TNT Intel Summary: Bank meetings today to discuss final aspects of RV. Three Letter Agencies say “IT’S DONE.” US and Canada started paying VIPs on Wed. 4 Dec, Thurs. 5 Dec, and today Fri. 6 Dec. The Iraqi Dinar being paid right now at $3.49 in-country.

Fri. 6 Dec. 2024: “It’s official folks! Iraq has passed their HCL Law.”: https://dinarevaluation.blogspot.com/2024/12/jon-dowling-its-offical-folks-iraq-has.html?spref=tw

Sat. 7 Dec. 2024: Rumor was that Vietnam had revalued their Dong in-country.

Sun. 8 Dec. 2024: Four day Victory Celebration begins in Iraq from Sun. 8 Dec. to Wed. 12th Dec. 2024. …Britt Vibes on Telegram posted by Wolverine

Sun. 8 Dec. 2024: Iraq’s Major Law Could Go Live Tonight #dinar #iraqidinar #centralbank #centralbanks” on YouTube https://youtube.com/shorts/vOYEau7FJc0?si=7Qen7N2iCrz41Aij

Read full post here:  https://dinarchronicles.com/2024/12/09/restored-republic-via-a-gcr-update-as-of-december-9-2024/

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Mnt Goat  So, what is this dream of Al-Alaq? ...Al-Alaq has told us he strongly supports the dinar of the past and will bring it back to its “glory days”.  This is the ultimate goal of all these financial reforms and “pillars” Iraq keeps talking about. They are all just a means to the end. The end is the reinstatement, a by-product of all this hard work of financial reforms.

Militia Man   Deadly "Dutch Disease".  It's when countries are reliant [solely] on natural resources.  When commodity prices drop, their budgets get affected.  It's very painful...It's bad because it devalues their currency because  they don't have...the ability to buy and pay for things and pay back debt.  But if you have...non-oil revenues...tourism...development road project...ports...taxes and tariffs [you can win]...They used Saudi Arabia as an example because...they were [successful] using non-oil revenue streams.  That's what Iraq is poised to do and it's an awesome thing to see...

MARKETS A LOOK AHEAD: What Is About To Happen WILL SHOCK THE WORLD.

Greg Mannarino :  12-8-2024

https://www.youtube.com/watch?v=tU2nC1YeSfo

"The CRASH Will Be WORSE Than 2008" | George Gammon

LifeWorthLiving:  12-8-2024

George Gammon discusses the Federal Reserve's recent moves and the narrative they want us to believe. Are we heading for a hard landing, or can the Fed really control the economy?

George argues that despite the Fed's attempts to orchestrate a "soft landing," history shows that they often lag behind the curve.

https://www.youtube.com/watch?v=hZCDw7RKi6M

“Tidbits From TNT” Monday Morning 12-9-2024

TNT:

Tishwash:  Iraq rises to third place in the Arab world in gold reserves after Lebanon leaves the list

The World Gold Council announced on Monday that Iraq has risen to third place in the Arab world after Saudi Arabia and Algeria, and 28th globally on the list of the 100 largest countries in terms of gold reserves, after Lebanon was removed from the classification.

According to the latest report published by the Council in December 2024, which Shafak News Agency reviewed, Iraq's gold holdings rose to 152.7 tons, up from 152.5 tons last month. 

These holdings constitute 11.5% of its total other reserves, ranking it third in the Arab world.

The Council pointed out that "the United States of America continues to top the list of the largest gold holdings in the world, with 8,133.5 tons, followed by Germany with 3,351.5 tons, then Italy with 2,814 tons. Bosnia and Herzegovina came at the bottom of the list with 1.5 tons."

The Council did not mention the reason for Lebanon’s exit from the list, after it had been ranked third in the Arab world, as its reserves in the previous month amounted to 286.8 tons.

The World Gold Council is based in the United Kingdom and has extensive experience in understanding the factors affecting the gold market. The Council includes the largest gold mining companies in the world.  link

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Tishwash:  Parliamentary Finance: Amending the budget will end the dispute over the oil file

Finance Committee: Budget amendment will end dispute over oil file

The Parliamentary Finance Committee, headed by Representative Atwan Al Atwani, hosted the head of the Federal Financial Supervision Bureau, Mr. Ammar Subhi Khalaf, and the senior staff, to discuss the draft of the first amendment to the Federal General Budget Law.

Al-Atwani stressed, according to a statement by the Parliament’s media, a copy of which was received by {Euphrates News}, “the committee’s keenness to approve the amendment in a realistic and implementable manner, in a way that ends the existing dispute between the federal government and the regional government regarding the oil file.”

He also pointed out that the completion of the committee's work on this amendment is dependent on the presence of the Ministry of Finance to clarify the legal basis for disbursing financial dues to foreign oil companies operating in the region.

For his part, the Chairman of the Federal Financial Supervision Bureau reviewed the schedule of financial dues between the federal government and the region, stressing the documentation of these dues in the Bureau’s reports, with the addition of notes regarding the delivery of the region’s oil and non-oil revenues to the federal government.

The Chairman of the Financial Supervision Bureau stressed the need for the amendment to include clear mechanisms for liquidating financial advances before the end of the year to avoid their accumulation. He stressed that the agreement based on this amendment is good and implementable, with the need to address the observations referred to.

The senior staff of the Financial Supervision Bureau also provided a briefing on the progress of the procedures for localizing the salaries of the region’s employees, indicating that the localization rate exceeded 80% in the banks accredited by the Central Bank of Iraq, with the end of the year set as the final date for completing the biometric cards to ensure that the problem of duplicate salaries is addressed.  link

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Tishwash:  The Center for Banking Studies announces its training plan for the year 2025

In the presence of His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, the Center for Banking Studies at the Central Bank of Iraq announced its training plan to be implemented during 2025.

The Director General of the Center for Banking Studies, Dr. Mustafa Munir, said that the center will provide specialized accredited courses and tests in the fields of the financial and banking sector, providing workers in this vital sector with accredited international certificates and practices, in addition to providing solid scientific consultations and studies in the financial and banking fields of the Iraqi banking system.

The attendees expressed their interventions regarding the plan and enhancing its details, in light of the observations and suggestions made by each of them at the level of the accredited specialized certificates axis and the workshops and training courses axis, which reflect the actual training needs of banking institutions and non-banking financial institutions, to raise the level of efficiency of the performance of workers in the banking system, towards achieving the goals of sustainable development in implementation of the government program with the required qualitative achievement.

The deliberative meeting concluded with expressing observations and suggestions that would positively reflect on the effectiveness of the training plan to be launched in 2025, and preparing it in its final form, taking into account the flexibility of the plan and its ability to accommodate developments and keep pace with developments.

Central Bank of Iraq
Media Office  link

Mot: Facebook friends 

Mot: .. When enough is Enough

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 12-08-24

Good Afternoon Dinar Recaps,

BRICS NEWS:  THE US DOLLAR’S CLOUT IS DECREASING GLOBALLY, SAYS BRICS

BRICS member Russia has commented on the recent 100% tariff threats issued by President-elect Donald Trump for cutting ties with the US dollar. Russian President Vladimir Putin spoke about the threats by poking fun at the American economy and its dwindling power. The clout that the US carried a few decades ago is no longer in existence as developing countries have come far ahead in steering their economy to prosperity.

While their economy is becoming prosperous, BRICS is focusing on boosting their local currency and not the US dollar. The bloc is determined to use local currencies first and keep the US dollar in the backseat of the global economy.

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BRICS: The U.S. Dollar’s Global Influence Is Decreasing

BRICS leader and Russian President Putin explained that after Trump’s presidency, American leaders have done a great deal to undermine the US dollar. The sanctions and weaponization of the USD led to emerging economies ganging up against the White House. “The US dollar’s clout is decreasing globally,” said Putin.

He also said that America’s share in the global economy is shrinking while BRICS is rising. “Given that the US share in the global economy is shrinking, the dollar’s influence on global economic processes is also falling. And as this happens, new tools come to the fore,” he said.

“It’s been four years since the [US] President-elect was in the White House. During this time, the economy has undergone many changes, both globally and in America.

His successors, his political opponents, have done a great deal to undermine the fundamental role of the dollar as a global reserve currency,” Putin summed it up. It now needs to be seen how BRICS will counter Trump’s threat of reducing dependency on the US dollar.

@ Newshounds News™

Source:  Watcher Guru\

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YOU WON'T BELIEVE HOW EASY IT IS TO SPREAD CHRISTMAS JOY!  |  Youtube 

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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US Admits Collapse of the Dollar as BRICS Introduce New Finance

US Admits Collapse of the Dollar as BRICS Introduce New Finance

Geopolitical Analyst:  12-8-2024

In recent years, the landscape of international finance has been undergoing significant transformation, moving away from traditional systems and exploring innovative alternatives. One of the most groundbreaking initiatives emerging from this shift is BRICS Pay, a payment platform that operates on a decentralized star topology, leveraging dispersed networks to communicate payment information and liquidity.

This novel approach not only enhances the speed and efficiency of payments but also fortifies financial resilience against unilateral actions that can disrupt global economic stability.

BRICS Pay stands out as a promising alternative to SWIFT, seeking to mitigate potential sanctions and currency volatility that have increasingly characterized the global financial arena. By adopting a decentralized framework, BRICS Pay offers rapid deployment and scalability, making it a highly adaptive solution for the member countries of the BRICS alliance—Brazil, Russia, India, China, and South Africa. The increased focus on inclusivity and transparency aims to foster deeper economic collaboration among BRICS nations and their global partners, ultimately enhancing collective economic power in an increasingly multipolar world.

As of the second quarter of 2024, BRICS countries had significantly bolstered their gold reserves, now totaling approximately 6,200 tons, which accounts for 21.4% of the world’s total reserves. This strategic buildup reflects a broader tendency among countries to diversify from the US dollar and safeguard their economies against external shocks and sanctions.

Russia leads the pack with 2,340 tons (8.1% of global reserves), followed closely by China at 2,260 tons (7.8%). Brazil’s gold reserves have increased nearly threefold, showcasing a successful initiative to strengthen financial defenses in the face of growing global uncertainty.

Nations are increasingly turning away from their dependence on the US dollar in international trade and finance—a process known as de-dollarization. This paradigm shift is driven by various factors, including the desire for economic autonomy, stability, and resilience against US economic sanctions. The dominance of the dollar in global transactions often subjects countries to the vagaries of US monetary policy, which can lead to significant economic instability.

By diversifying their reserves, central banks aim to dispel risk linked to US financial systems and foster greater monetary independence.

Key players like China and Russia are taking significant strides to undermine US economic control by enhancing the use of their respective currencies in international commerce. These nations are establishing regional trade agreements that facilitate local currency transactions, thereby reducing reliance on the dollar.

For instance, a recent agreement between China and Brazil allows for trade in their own currencies, simplifying transactions and minimizing conversion costs.

The movement towards a decentralized payment system and the accumulation of gold reserves are emblematic of the BRICS nations’ commitment to creating a more robust and independent financial architecture. This strategic direction aims not only to cushion the economies of member nations from external pressures but also to pave the way for a multipolar global financial system.

As emerging economies gain traction on the world stage, leveraging their own currencies to bolster financial sovereignty represents a significant shift in international trade dynamics. The rise of BRICS Pay, coupled with nations’ efforts to diversify away from the US dollar, demonstrates a collective resolve to reshape global economic relations and challenge the historical dominance of Western financial institutions.

The introduction of BRICS Pay and the strategic increase in gold reserves signal a pivotal moment in the evolution of global finance. By championing decentralized systems and reducing reliance on the dollar, BRICS nations are taking measured steps towards economic independence, stability, and security.

The aim is clear: to strengthen financial autonomy against geopolitical risks while promoting an inclusive framework conducive to collaboration among emerging markets. As the world moves forward, the success of these initiatives will be closely watched as a potential blueprint for future economic cooperation and resilience on the global stage.

Watch the video below from Geopolitical Analyst for more information.

https://youtu.be/idCrQV01Jmw

Iraq Economic News and Points to Ponder Sunday AM 12-8-24

For The Second Week In A Row, Oil Prices Record A Decline Amid Abundant Supplies

Energy Economy  |  07/12/2024 Mawazine News – Baghdad  The US dollar exchange rates witnessed a rise today, Saturday, in the markets of the capital Baghdad and Erbil, the capital of the Kurdistan Region, with the closure of the country's main stock exchange.

The dollar prices rose with the closing of the Al-Kifah and Al-Harithiya stock exchanges to record 151,250 dinars per 100 dollars, while this morning it recorded 151,000 dinars per 100 dollars.

As for the selling prices in the field of exchange in the local markets in Baghdad, they rose, as the selling price reached 152,250 dinars per 100 dollars, while the purchase price reached 150,250 dinars per 100 dollars.

In Erbil, the dollar also recorded a rise, as the selling price reached 151,100 dinars per 100 dollars, while the purchase price reached 151,000 dinars per 100 dollars.https://www.mawazin.net/Details.aspx?jimare=257215

For The Second Week In A Row, Oil Prices Record A Decline Amid Abundant Supplies

Energy sw23Economy News - Follow-up Oil prices fell more than 1% on Friday, extending their weekly losses as analysts forecast a supply surplus next year due to weak demand despite OPEC+'s decision to delay production increases and extend deep production cuts until the end of 2026.

Brent crude futures fell 97 cents, or 1.4%, to $71.12 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell $1.10, or 1.6%, to $67.20 a barrel.

Over the course of the week, Brent lost more than 2.5% and WTI fell 1.2%, with prices continuing to decline for the second week in a row.

Prices also fell as the number of oil and gas rigs operating in the United States rose this week, indicating higher production from the world's largest crude oil producer.

OPEC+ on Thursday postponed the start of increasing oil production by three months until April 2025, and extended the period until all cuts are removed by a year to the end of 2026.

The alliance,-` which pumps about half of the world's crude oil production, had planned to start reducing production cuts since October 2020, but slowing global demand, especially in China, and rising production from outside the group, in addition to other factors, prompted the alliance to postpone those plans more than once.

Brent crude traded in a narrow range of $70 to $75 a barrel last month, amid assessments of signs of weak demand in China and rising geopolitical risks in the Middle East.162 views  12/07/2024 - https://economy-news.net/content.php?id=50612

Central Bank Sells More Than $1 Billion In 5 Days

Saturday 07 December 2024 14:49 | Economic Number of readings: 164  Baghdad/ NINA / The total sales of the hard currency of the dollar during the days in which the auction was opened last week exceeded one billion dollars.

The Central Bank sold during the past week and for the 5 days in which the auction was opened one billion and 441 million and 783 thousand and 807 dollars, at a daily average of 288 million and 356 million and 761 dollars, higher than the previous week, which amounted to one billion and 434 million and 982 thousand and 505 dollars.

The highest sales of the dollar were the day before yesterday, Thursday, when sales amounted to 295 million and 719 thousand and 844 dollars, while the lowest sales were on Monday, when sales amounted to 279 million and 257 thousand and 935 dollars.

 Foreign remittance sales during the past week amounted to 1 billion, 382 million, 383 thousand, and 807 dollars, an increase of 96% compared to cash sales, which amounted to 59 million, 400 thousand dollars. / https://ninanews.com/Website/News/Details?key=1173330

Financial Supervision Calls For Building Strong And Effective Partnerships Between The Private Sector And Civil Society

Money and business Economy News – Baghdad  The Supervision and Inspection Department of the Securities Commission called on Saturday for building strong and effective partnerships between the private sector and civil society. While indicating that volunteer work is an effective tool for enhancing community spirit and developing youth skills, it stressed the endeavor to enhance the partnership between the private sector and promising youth volunteer initiatives.

“Choosing this conference as a platform for cooperation and coordination reflects our deep awareness of the vital role that young people, especially school students, can play in building a brighter future for our beloved country,” said Amir Sabah, Director of Supervision and Inspection at the Securities Commission, during the first coordination conference of the Securities Commission and the School Student Volunteer Team, as followed by “Al-Eqtisad News.”

He added, "Volunteer work is an effective tool to enhance community spirit and develop leadership skills among young people. It is at the heart of our interests. Through this conference, we seek to enhance the partnership between the private sector and these promising volunteer initiatives, in the belief that investing in these young energies is not only a social duty, but a long-term investment in the future of Iraq."

He added, "The role of private companies in this context is not limited to financial support only, but extends to providing expertise and guidance, and opening horizons for these young people to innovate and create," calling on all companies and institutions to "be part of these initiatives, and contribute to achieving their noble goals."

Sabah praised the "exceptional efforts made by the school student volunteer team," noting that they "proved - through their dedication and creativity - that Iraqi youth are capable of giving and inspiring, whenever given the opportunity," calling on everyone to "seize this opportunity to build strong and effective partnerships between the private sector and civil society, in a way that serves the interests of our beloved country."Views 61  12/07/2024 - https://economy-news.net/content.php?id=50630

UNAMI Representative To Security Council: Iraqi Government Has Succeeded In Keeping Iraq Out Of Conflict

2024/12/06 {Politics: Al Furat News} The UN Secretary-General's Representative in Iraq, Mohammed Al Hassan, confirmed during his speech before the UN Security Council that "the Iraqi government succeeded in keeping Iraq away from the conflict," praising its role in enhancing internal stability.

Al-Hassan added that "Iraq, the country of civilizations, is able to overcome crises towards a more stable and bright future," noting the government's success in conducting the population census, saying: "Iraq succeeded in conducting the population census, which is an important process that was followed up with Prime Minister Mohammed Shia al-Sudani."

He pointed to the Iraqi government's efforts to develop the infrastructure, explaining that "Prime Minister Mohammed Shia al-Sudani worked to invest in multiple projects to develop bridges, schools and transportation networks."  LINK

 Rafidain Bank Restructuring Program.. Justifications And Requirements

Dr. Haitham Hamid Mutlaq Al Mansour

After the Prime Minister stressed during his meeting with representatives of Ernst & Young the importance of developing the work of the government banking sector to enhance the confidence of citizens and local and foreign investors in the government banking sector in particular and the economy in general, the restructuring of Rafidain Bank is the first step towards economic reforms in the banking sector towards restructuring Iraqi government banks such as Rashid, Agricultural and Industrial, in an effort to make them play a financial role that stimulates growth and stability.

Rafidain Bank has witnessed accumulated internal problems inherited from the previous regime and subsequent governments after the change, manifested around banking, credit and administrative policies that have undermined the bank’s credit capacity and limited its banking stability and operational and financial efficiency, as Rafidain Bank still suffers from many fundamental problems at the core of banking work, namely:

The balance sheet of Rafidain Bank suffers from debts owed by it as a result of issuing letters of guarantee and confirming credits in favor of government departments and companies, which, along with the accumulated interest, have exceeded their natural limits.

The bank's credit rating has decreased.

Limited ability to keep up with developments in the banking industry.

The decline in the bank’s ability to meet its obligations according to profitability indicators, capital adequacy indicators, the ratio of equity to total assets and the ratio of equity to total deposits, which indicates the weakness of the bank’s activity in meeting its credit obligations.

Rigidity of banking legislation and failure to build policies for developing banking services through advanced banking technologies.

Hence, it is expected that the restructuring will improve its performance in a way that will rehabilitate it to be able to increase its efficiency in managing its balance sheet and improve its ability to achieve profitability indicators, capital adequacy and resource employment indicators.

By redesigning the bank's organizational structure, creating new departments and merging existing ones with new ones, the bank's tools and objectives can be developed with the aim of improving the performance of the bank's structure in the infrastructure of organization and supervision, solvency and liquidity rules, its lending policy and formulating its relations with other banks on the one hand and government units and others on the other hand.

Therefore, it is possible, on a theoretical level, after the restructuring process, that the bank’s performance will improve and its productivity will increase in the short and long term, and its financial and operational efficiency will be raised, as the cost of banking operations will be reduced and the process of participation in decision-making will move towards what is consistent with banking decentralization. It is expected that the new structure will aim to avoid credit bankruptcy by limiting the accumulation of ineffective balances and avoiding a credit crisis.

But in reality, we see that the restructuring process faces several challenges, the most important of which are the difficulty of attracting and attracting the required sufficient capital, low savings rates, weak capital market, high cost of modern technology and developing related systems, and high cost of training employees in the banking sector.

Therefore, the restructuring program should aim to secure two strategic requirements:

The first requirement: It revolves around the goal of restructuring the operating side with the aim of achieving its financial stability. The goal of restructuring the financial side in a way that restores the bank’s ability to comply with the minimum capital adequacy and other hedging requirements.

The second requirement: It includes two objectives. The first is concerned with restructuring the bank according to an accurate and clear plan for the short, medium and long term in the institutional and operational aspects, in a way that ensures the bank’s harmony with market conditions and customer service and in accordance with the hedging requirements contained in the Banking Law and the Central Bank of Iraq Law, and the requirements of compliance and competition.

As for the second, it is concerned with amending the laws, regulations and instructions that regulate the work of Iraqi banks in a way that qualifies them to work in light of modern banking standards and indicators to keep pace with market requirements and enhance the prospects and requirements of growth and stability in a way that serves the banking reform process  12/07/2024 - https://economy-news.net/content.php?id=50614

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

Seeds of Wisdom RV and Economic Updates Sunday Morning 12-08-24

Good Morning Dinar Recaps, 

COINBASE REVEALS LETTERS WHICH EXPOSES FDIC’S ROLE IN OPERATION CHOKEPOINT 2.0

Coinbase reveals FDIC "pause letters", showing efforts to restrict crypto banking services. Documents support Operation Chokepoint 2.0 claims.

▪️Coinbase obtained FDIC "pause letters" revealing efforts to limit banking access for crypto firms in 2022 through FOIA requests.

▪️FDIC's communications showed deliberate delays and questions aimed at halting crypto-related banking activities, fueling "Operation Chokepoint 2.0."

▪️Crypto industry leaders argue government actions restrict legal crypto businesses' access to banking services.

Coinbase, one of the largest crypto exchanges in the U.S., has made public a series of documents that point to the Federal Deposit Insurance Corporation’s (FDIC) involvement in restricting banking access for crypto companies. 

The letters, obtained through a Freedom of Information Act (FOIA) request, suggest that in 2022, the FDIC instructed banks to halt or limit services to crypto businesses.

The exchange’s legal team asserts that these documents provide evidence of a concerted effort by federal agencies to suppress the crypto industry.

Coinbase Exposes FDIC’s ‘Pause Letters’, Proving Role in Crypto Banking Restrictions
Coinbase recently revealed a set of “pause letters” sent by the FDIC to financial institutions in 2022. These letters requested that banks temporarily halt crypto-related activities until further review of compliance and risk factors.

The documents, uncovered through legal action by the exchange, shed light on the FDIC’s efforts to limit the banking services available to crypto businesses.

The “pause letters” explicitly instructed banks to pause any crypto asset-related activities. This signals a proactive stance by regulators to discourage financial institutions from engaging with cryptocurrency industry.

Paul Grewal, Coinbase CLO commented,

“The letters that show Operation Chokepoint 2.0 wasn’t just some crypto conspiracy theory. FDIC is still hiding behind way overbroad redactions. And they still haven’t  produced more than a fraction of them.”

Last month, Coinbase CLO Paul Grewal revealed that the FDIC has been actively working to restrict banks from offering crypto services.

Operation Chokepoint 2.0 Allegations and Its Impact on Crypto Firms

The documents made public by Coinbase have rekindled the debate around “Operation Chokepoint 2.0,” a term coined by critics to describe alleged government efforts to stifle the crypto industry. According to the exchange legal team, these letters provide concrete evidence of a coordinated strategy by the FDIC to limit crypto firms.

Crypto executives have long complained about the difficulties of securing banking relationships due to regulatory uncertainty. The letters confirm that federal agencies have been using informal measures to suppress the industry.

However, in recent reports, US Rep. French Hill has vowed to investigate Operation Chokepoint 2.0, which he argues targets industries like crypto through politicized debanking. He has called for transparency in financial oversight and stronger protections for businesses facing unfair regulatory practices.

According to reports, Banks were asked to submit detailed analyses, including risk assessments and income projections, before moving forward with offering crypto services. This level of scrutiny and the subsequent delays were a tactic to stop financial institutions from entering relationships with the crypto sector.

Coinbase has vowed to continue pursuing transparency, despite heavy redactions in the documents released by the FDIC. As Coinbase legal chief Paul Grewal stated, further disclosure will provide additional clarity on the extent of the regulatory actions taken against the industry.

Similarly, John Deaton recently called for the incoming US government to hold accountable those responsible for debanking crypto firms.

@ Newshounds News™

Source:  CoinGape

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BRICS NEWS:  SOUTH AFRICA SAYS BRICS HAS NO PLANS TO CREATE NEW CURRENCY AFTER TRUMP ISSUES WARNING AGAINST DEDOLLARIZATION: REPORT

Reports on a new BRICS currency designed to compete against the US dollar are fundamentally false, according to leaders in South Africa.

In a statement, South Africa’s Department of International Relations and Cooperation (DIRCO) says BRICS is not working on a currency that could be used as an alternative to USD, reports Bloomberg.

According to DIRCO, reports have misinterpreted the intentions of the economic bloc about trade settlements between member nations.

“Recent misreporting has led to the incorrect narrative that BRICS is planning to create a new currency. This is not the case. The discussions within BRICS focus on trading among member countries using their own national currencies.”

In May of last year, reports emerged that BRICS was working on a new currency backed by gold and potentially additional precious metals and assets in a push to abandon the US dollar.

Despite those reports, South Africa is now saying that BRICS has no intention of promoting de-dollarization efforts.

“South Africa supports the increased use of national currencies in international trade and financial transactions to mitigate the impact of foreign exchange fluctuations, rather than focusing on dedollarization. The strengthening of correspondent banking networks and the development of infrastructure for settlements in national currencies could further this aim.”

South Africa’s statements come as President-elect Donald Trump issued an ultimatum against BRICS. Trump says on the social media platform Truth Social that he plans to take severe measures if BRICS creates or backs a dollar alternative.

“The idea that the BRICS Countries are trying to move away from the dollar while we stand by and watch is OVER. We require a commitment from these countries that they will neither create a new BRICS currency, nor back any other currency to replace the mighty US dollar or, they will face 100% tariffs, and should expect to say goodbye to selling into the wonderful US economy.

They can go find another ‘sucker!’ There is no chance that the BRICS will replace the US dollar in international trade, and any country that tries should wave goodbye to America.”

As a whole, BRICS nations have expressed varying levels of support for a common currency, with leaders in Russia and Brazil firmly behind the idea. South Africa is the most conservative, expressing the need for a cautious approach while emphasizing the importance of the US dollar.

@ Newshounds News™

Source:  DailyHodl

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@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Thank you Dinar Recaps

“Tidbits From TNT” Sunday Morning 12-8-2024

TNT:

Tishwash:  Halbousi concludes his visit to Congress and meets with the Foreign Relations Committee

Friday, the head of the Progress Party, Mohammed al-Halbousi, concluded his visit to the US Congress by meeting with Republican Representative and member of the Foreign Relations Committee, Darrell Issa.

The media office of the head of the Progress Party said in a statement received by “Al-Jarida” that “the meeting discussed the strategic partnership between Iraq and the United States of America and ways to develop it in a way that reflects positively on the two friendly peoples and joint cooperation in the fields of energy and gas investment.”

The meeting also discussed the situation in Gaza and Lebanon, efforts to stop the war and put it into practical implementation, as well as the recent developments in Syria and the importance of containing this crisis and affirming the preservation of Syria's security and stability, according to the statement. link

Tishwash:  Former Minister Rules Out Trump Imposing Sanctions on Iraqi Oil Production and Marketing

Former Minister of Electricity, Luay Al-Khatib, ruled out US President-elect Trump imposing sanctions on Iraqi oil production and marketing.

Al-Khatib stated in a post on the “X” platform, which was followed by “Jarida”, that “Trump is a man of deals and will use his tools to redraw international relations in a manner consistent with his administration by controlling the movement of the dollar and imposing sanctions and central bank dealings on some institutions, individuals and even regimes that are unfriendly or difficult to deal with with the United States.

He may be stubborn or strict on the issue of granting exceptions to Iraq’s import of Iranian gas and electricity exclusively to restrict the dollar’s ​​access to Tehran, but he will not pressure Iraq, as the second oil producer in OPEC, to limit its production to support global markets in order to push for price instability and rises, especially in light of the sanctions in force on major producers such as Iran, Russia and others.”

He expected, “Perhaps the Trump administration will support American energy companies in the fields of oil, gas, electricity and renewable energy to invest in producing countries, including Iraq, to ​​create an alternative and restore trade balance with an active presence, but with work controls that do not contradict financial dealings between Iraq and the United States and the two countries’ partners in the region.”

He stressed that "Iraq must move wisely and quickly to deal with the Trump administration and work on a proactive plan to win over the elected administration before it takes power so that the country can avoid costly moody scenarios that we faced during our ministerial period with great difficulty and succeeded at that time in containing them to pass exceptions on the gas and electricity files." link

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Tishwash:  Al-Nusairi calls on the media to be patriotic, transparent and supportive of the national economy

Economic and banking advisor Samir Al-Nusairi called for economic media to be national, specialized, accurate, honest and transparent in diagnosing economic problems and imbalances, and to be a real and supportive contributor in proposing solutions and treatments to the supervisory and regulatory government bodies, and not to be a media that is satisfied with directing criticism and accusations without relying on accurate and transparent sources and information.

Al-Nusairi pointed out that the economic analysis of those called analysts or experts should be realistic and committed to reaching accurate information from reliable sources so that the government and its economic institutions can benefit from it for the purposes of diagnosis, treatment and accountability.

Al-Nusairi warned against some non-economic media (or non-specialized media) that have recently promoted and analyzed incorrect news that is tainted with lack of credibility and fallacies in transmitting and analyzing the news according to specific visions, intentionally or unintentionally, that harm the course of economic, financial and banking reform, disrupt the movement of monetary and commodity trading in the local market, and hinder the efforts of the government and the Central Bank in achieving the goals set to achieve the desired reform steps

Stressing that the non-committed media contributes to adding another problem that affects the nerve of the Iraqi economy in addition to the challenges that the country and the region are currently suffering from, which is creating a state of economic instability and fluctuations in the exchange rate of the US dollar against the Iraqi dinar and the rise in the prices of basic and necessary goods and materials such as food and medicine.

He pointed out that it is necessary here for media workers in all its fields and analysts who roam satellite channels and lack experience and intent to realize that specialized economic media has an important and fundamental role in creating economic stability and goes beyond that to contributing to economic reform and enabling and assisting the concerned state agencies and institutions to control economic problems and spread economic culture and avoid failure cases because economic media must be national economic media in word and meaning.

Al-Nusairi explained that media and economy are in a multi-faceted and permanently related partnership, and they are on the same front to face the challenges they face together, and if we assume that the economy can create successful media, then it is certain that the media can also create a successful economy, and this is what results in the success of the media institution if it has specialized economic leaders who are aware of the role of national media.

 Iraq's experience in this field is considered modern, as the economy needs support and assistance in promotion, analysis, planning and support in order to deliver a distinguished media message to the audience, whether through the press, television, radio, or modern media and communication channels.

Al-Nusairi concluded by saying: “Therefore, the economic media that can deliver a purposeful message and serve the economy and economic institutions is the one that attracts an important segment of society. It will remain and continue and achieve the strategic goals of supporting the national economy and developing the work of productive, financial and banking institutions.

The economic media must undertake positive participation in the process of development and economic reform by presenting an image of the nature of the future trends of the economy and identifying economic and development activities and events and available energies and encouraging and stimulating the economy and investment.”  link

Mot: .... ""Mots"" Thought fur da Daze 

 Mot: ...... and Yet another of ole ""Mots"" marital Tips!!! 

Gold, Silver, and the Great Financial Reset

Gold, Silver, and the Great Financial Reset

Kinesis Money:  12-6-2024

In a compelling episode of Live from the Vault, Kinesis Money’s Andrew Maguire joins forces with esteemed economist Dr. Stephen Leeb to uncover the seismic shifts occurring within the global financial landscape.

Their insightful dialogue deftly navigates the accelerating decline of the US dollar’s dominance, the resurgent role of gold in contemporary monetary systems, and the significant moves being made by BRICS nations that are catalyzing a transition towards a multipolar world order.

At the heart of the discussion lies the growing vulnerability of the US dollar, long held as the world’s primary reserve currency. Maguire and Leeb analyze the multifaceted factors contributing to this decline, including rising inflation, expansive monetary policies, and geopolitical tensions.

The dollar’s entrenched status is increasingly at risk as other nations seek alternatives to mitigate their dependence on the dollar. This realignment is not just a financial shift; it represents a profound transformation in global power dynamics.

Amidst this tumult, gold is resurfacing as a form of monetary security. Maguire and Leeb highlight the critical role that gold plays in the evolving landscape, especially as central banks around the world begin to stockpile the precious metal. This strategic move underscores gold’s timeless allure as a reliable store of value and a hedge against fiat currency failures.

Leeb points out that the historical precedence of gold during economic upheaval has led to renewed interest in its intrinsic value.

As nations grapple with the challenges posed by inflationary pressures and the erosion of trust in fiat currencies, gold is being reconsidered not merely as a commodity, but as a cornerstone of sound monetary policy.

This revitalization of gold could reshape not only individual national economies but also the global financial framework.

The discussion also pivots towards the BRICS nations—Brazil, Russia, India, China, and South Africa—whose collective muscle is creating a new paradigm in international finance. These countries are actively working to establish a multipolar world order that diminishes the spotlight on the US dollar.

The implications of their coordinated efforts are profound, signaling a shift toward diversified currencies and transactions that prioritize regional stability over reliance on a single power.

With initiatives such as the BRICS currency discussions and the promotion of trade in local currencies, these nations aim to create more equitable terms of trade that serve their interests. As Maguire suggests, this transition poses both opportunities and challenges, pushing for a recalibration of how financial systems are viewed and operated globally.

A particularly poignant element of the discussion is the dichotomy between spiritual and material perspectives in global economics. Leeb highlights the importance of recognizing the underlying values that drive economic behavior, suggesting that a purely materialistic approach, often seen in the relentless pursuit of GDP growth, is shortsighted.

 The co-hosts argue for a shift towards a more holistic view of economics—one that encompasses not just monetary success but also societal well-being and ethical considerations.

Such insights urge policymakers and individuals alike to rethink their relationship with wealth and prosperity. By fostering a balance between spiritual values and material pursuits, it may be possible to create a more sustainable and equitable financial ecosystem.

As Andrew Maguire and Dr. Stephen Leeb so effectively articulate, the current financial landscape is in flux, marked by the decline of the US dollar’s supremacy, the resurgence of gold as a monetary cornerstone, and the transformative ambitions of BRICS nations.

These changes compel us to reconsider our economic paradigms and the values that underpin them. In navigating these uncharted waters, embracing a more holistic view of economics may well equip us to face the future with resilience and integrity.

The implications of their insights are vast and warrant close attention from anyone interested in the dynamics of global finance, as the winds of change continue to shape our monetary future.

https://youtu.be/KRmUGI2ECxo

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 12-07-24

Good Afternoon Dinar Recaps,

THE QUANTUM FINANCIAL SYSTEM'S NETWORK  —  ISO 20022  COMPLIANT COINS

▪️Ripple XRP

Institutional coins, network of smart contracts, removes 3rd party verification, reduces fraud and illegal activities.

The digital currency, XRP, acts as a bridge currency to other currencies. It does not discriminate between any fiat/cryptocurrency, which makes it easy for any currency to be exchanged for another.  It is scalable.  XRP Provides Global Liquidity, backed by gold, part of the ISO20022 ecosystem.

ISO20022 is a worldwide industry standard that has been brought in to regulate the interchange of electronic data between financial institutions.

Ripple works on an open-source and peer-to-peer decentralized platform that helps in easily transferring various forms of fiat money, be it pound, dollars or rupees, or cryptocurrencies, like Ether or Bitcoin.

Its services included being a medium of exchange, international payment settlement and remittance system.
XRP is the digital asset native to the Ripple system. It is touted as being easy to use with almost free, instant transactions. Ripple is built upon distributed open source protocol, a consensus ledger and the aforementioned digital asset known as XRP.

Built for enterprise use, XRP enables real-time global payments anywhere in the world. XRP offers banks and payment providers a reliable, on-demand option to source liquidity for cross-border payments and has been increasingly adopted by banks and payment networks as settlement infrastructure technology.

▪️Stellar XLM

Digital Currency backed by Silver, part of the ISO20022 ecosystem.
XLM/Stellar Network: the people’s coin, people can create/send/trade all forms of money (fiat and digital), undeveloped nations.  Partnered with VISA and MoneyGram.

Stellar is a cryptocurrency and open source protocol for value exchange founded in early 2014 with a similar structure to that of the competing blockchain solution, XRP. Stellar claims to be platform that connects banks, payments systems, and people.

Stellar aims to achieve this through its completely decentralized consensus platform. It is designed to support any type of currency and has a built in decentralized exchange that can be used to trade any type of currency or asset.

The Stellar ledger records all the balances and transactions belonging to every account on the network. A complete copy of the Stellar ledger is then hosted on each server that runs the open source Stellar software. These servers form the decentralized Stellar network. To verify the network these servers then sync and validate the ledger through process known as consensus.

▪️Quant QNT

Quant is a versatile plug-and-play solution connecting different blockchains and enterprise software without requiring new infrastructure.

Using distributed ledger technology (DLT) and APIs through the Overledger API gateway, it enables seamless communication between blockchains.

Quant also supports multi-ledger tokens (MLTs) backed by fiat funds held in escrow, serving entities like central banks, banks, fintechs, payment systems, and marketplaces.

These MLTs function as stablecoins, vouchers, loyalty points, and eMoney, facilitating fast and transparent cross-border bank payments.

The union of Quant (QNT) and the ISO 20022 standard signifies a groundbreaking alliance within the Quantum Financial System.

Quant, focused on blockchain interoperability, integrates ISO 20022's universal financial messaging standard to enhance connectivity between diverse networks.

By adhering to ISO 20022, Quant aims for standardized, efficient, and secure transactions, propelling faster speeds, reduced costs, and improved transparency.  Moreover, this integration represents a vital step toward leveraging quantum computing in finance.

While promising, challenges like widespread adoption and regulatory alignment must be addressed.
Yet, the amalgamation of Quant QNT with ISO 20022 paints a future where quantum technology and interoperability revolutionize finance.

▪️ XDC/ XinFin Network

Digital Currency backed by Copper, part of the ISO20022 ecosystem.
Fintech coin (VISA/MC), partnered with Flare Network/DeFi (decentralized finance) = bridge between institutional and retail.

XinFin is a Blockchain technology company focused on international trade and finance.
We have developed a highly scalable, secure, permissioned and commercial grade Blockchain architecture.

XinFin blockchain is powered by XDC01 protocol, which is built over the first of its kind Hybrid Blockchain architecture to eliminate the inefficiencies in global trade and financing and to enable institutions provide real time settlement as well as enabling cross border smart contracts.

With an aim to bridge the global infrastructural deficit with their open source marketing platform - TradeFinex, XinFin has created a seamless platform for financiers, suppliers and beneficiaries across industries worldwide.

The primary goal of XinFin is efficiently facilitate capital deployment and minimize pressure on the infrastructural deficit by enabling a peer to peer trade and financing between governments, corporates, communities and suppliers.

They use blockchain and IoT to enable the transaction of community driven digital asset.

▪️Algorand ALGO

Digital Currency backed by precious metal Palladium, part of the ISO20022 ecosystem.

Algorand is an open source, pure proof of stake blockchain protocol.
It requires a negligible amount of computation, and generates a transaction history with low “fork” probability.

This protocol aims to remove technological barriers: decentralization, scalability, and security, that have undermined the acceptance of mainstream blockchain.

Algorand implements a new Byzantine Agreement (BA) protocol to reach consensus among users on the next set of transactions.

To scale the consensus to many users, Algorand uses a novel mechanism based on Verifiable Random Functions. There are two types of smart contracts on the Algorand network: 

Layer 1 on-chain, and Layer 2 off-chain, by moving the most computationally intensive smart contracts off-chain, Algorand frees up space on the network for simple transactions, thus reducing congestion to improve processing speed.

▪️Iota MIOTA

Digital Currency backed by precious metal Iridium, part of the ISO20022 ecosystem.

IOTA is an open source, public distributed ledger that is used for providing secure payments and communications between devices on the “Internet of things.
The IOTA ledger stores transactions in a directed acyclic graph structure, called a Tangle.

The Tangle is used instead of the blockchain structure commonly seen in other cryptocurrencies, such as Bitcoin.

This tangle structure is part of what enables IOTA to keep its transactions free, regardless of the size, In addition the confirmations are almost instant and the systems capability is unlimited.

▪️Hedera HBAR

The integration of Hedera HBAR into the ISO 20022 framework within the Quantum Financial System (QFS) marks a significant stride in the evolution of finance.

Hedera Hashgraph's unique consensus algorithm, combined with the standardized messaging of ISO 20022, promises several advantages.

This integration facilitates: Interoperability, Security, Efficiency, Transparency and Auditability, Global Adoption.

These tokens are mainly utilized to power decentralized applications to protect the network from malicious attacks and for paying network services.

While promising, challenges such as regulatory compliance and market acceptance remain.
Nonetheless, this integration paves the way for a more efficient, transparent, and globally accessible financial landscape.

▪️Cardano ADA

Cardano (ADA) is a third-generation blockchain platform built to address the limitations of earlier blockchain systems like scalability, interoperability, and sustainability.

Developed with a strong emphasis on academic research and peer-reviewed protocols, Cardano is known for its innovative approach to decentralization and energy efficiency through its Ouroboros proof-of-stake (PoS) consensus mechanism.

As one of the few cryptocurrencies aligned with the ISO 20022 messaging standard, Cardano is uniquely positioned to integrate seamlessly into the evolving global financial system.

This makes ADA particularly appealing for use cases like cross-border payments, remittances, and other financial services requiring high levels of interoperability and regulatory compatibility.

@ Newshounds News™

Source:  https://qfs.live/

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END OF CRYPTO CRACKDOWNS? LAWMAKER SAYS 'REGULATION BY ENFORCEMENT IS OVER'

A top lawmaker says the U.S. is shifting from “regulation by enforcement” to clear oversight, with new leadership poised to boost cryptocurrency and AI innovation.

A New Era for Crypto and AI Regulation

U.S. House Financial Services Committee Chairman Patrick McHenry has highlighted progress in crypto regulation, focusing on new leadership roles and the evolving oversight of cryptocurrencies and artificial intelligence (AI). In a post on social media platform X Friday, McHenry praised the creation of a “crypto and AI czar” as a major development.

“The mere fact that the U.S. now has a crypto and AI ‘czar’ reflects the impact of the Financial Services Committee,” he claimed, emphasizing:

The era of regulation by enforcement is over.

“With folks like David Sacks and Paul Atkins, the future of the digital asset ecosystem in the U.S. is brighter than ever,”the congressman added. “Paul Atkins has the expertise and experience needed to restore faith in the SEC. I’m confident his leadership will lead to clarity for the digital asset ecosystem and ensure U.S. capital markets remain the envy of the world,” the congressman continued.

President-elect Donald Trump recently announced two significant appointments: David Sacks as the White House AI and Cryptocurrency Czar, and Paul Atkins as Chair of the Securities and Exchange Commission (SEC), replacing Chair Gary Gensler. 

Sacks, a venture capitalist and former Paypal executive, is tasked with developing a legal framework to bolster the U.S. crypto industry and ensure global competitiveness in artificial intelligence. 

Atkins, a former SEC commissioner known for his pro-crypto stance, is expected to shift the agency’s approach towards more lenient regulations, potentially easing enforcement actions against digital asset firms. 

These appointments signal the incoming administration’s intent to foster innovation in emerging technologies while reconsidering existing regulatory measures.

McHenry has announced he will retire from Congress at the end of his current term, which concludes in January 2025. As Chairman of the House Financial Services Committee, he has been a leading advocate for clear regulatory frameworks in the digital asset sector.

His comments come amid growing calls for a balanced regulatory approach that fosters innovation while ensuring investor protection. Industry observers have long criticized “regulation by enforcement” for creating uncertainty and stifling growth, making this transition a welcomed change for stakeholders.

The new focus on leadership and structured policies marks a pivotal moment for U.S. cryptocurrency and AI development, with advocates anticipating a more supportive environment for innovation.

@ Newshounds News™

Source:  Bitcoin News

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GET READY FOR NESARA GESARA WITH THESE 5 ESSENTIAL QSI TOOLS!  Youtube

QUANTUM FUTURE WITH THE QFS

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Iraq Economic News and Points to Ponder Saturday AM 12-7-24

Economic: The Parallel Market Sells The Dollar At A Price Not Subject To Government Control
 
    December 6 14:44   Information / Baghdad...  Economic affairs researcher Diaa Abdul Karim said on Friday that the  Iraqi parallel market sells the dollar to citizens at a price that is not subject to state control, pointing out that the  absence of control will create a crisis with any tension that the country may go through. Abdel Karim told Al-Maalouma,
 
“There is silence from the government regarding the parallel market and the price at which the dollar is sold to citizens, and this silence will generate a real crisis within the market if the country goes through any emergency circumstances or tensions that may occur in the coming days.”  

He added, "Most people heading to the parallel market want to obtain the dollar for
 
     urgent travel purposes, or to urgently
     purchase medicine from abroad, or for the purpose of
     purchasing cars from approved showrooms." He stated that  "the government can open a window in government banks that allows the citizen to obtain the dollar for the purpose of buying a car, or give him a check for the amount to be disbursed after signing the purchase contract officially and certified by the Traffic Department, in order to avoid the corruption that occurs in the buying and selling of the dollar."  
 
https://almaalomah.me/news/84633/economy/اقتصادي:-السوق-الموازي-يبيع-الدولار-بسعر-غير-خاضع-لسيطرة-الح   

Parliamentary Integrity accuses a former employee of the Iraqi Central Bank of being behind the US sanctions
 
politics     breaking  2024-12-01 Shafaq News/ On Sunday, the Parliamentary Integrity  Committee accused a former employee of the Central Bank of being behind the banking sanctions imposed on some Iraqi banks by the US Federal Bank.
 
The number of sanctioned banks is 32 out of 72 banks operating in Iraq.
 
Member of the Parliamentary Integrity Committee, Vian Dakhil, said in a statement received by Shafaq News Agency, that
 
a former employee of the Central Bank hid the emails received by the Federal Bank, JP Morgan, and Citibank to inquire about some topics related to the bank’s work. She added that  failure to answer these issues caused some banks to be punished, stressing that  most banks do not know the reason for the sanctions against them.
 
On the other hand, economic expert, Mustafa Akram Hantoush, told Shafaq News Agency that the
 statements of members of the Parliamentary Integrity Committee are closer to reality than the statements of the Central Bank of Iraq.

He added that the  collapse of the Iraqi banking system and the punishment of 32 Iraqi banks without a clear charge during a period of (a year and a half) is not normal, and in terms of banking, this may be the first incident of this kind in the world. Hantoush noted that   what is worse is the lack of serious solutions by the Central Bank of Iraq to this situation, but rather the
 
     move towards canceling the (Fitr) platform at the end of 2024 and
     handing over the dollar file to banks affiliated with investors and foreign banks (Jordanian and Gulf). Hantoush wondered:
 
Does the Central Bank of Iraq know that by not finding solutions for the Iraqi banking sector,
 
     it will fire the coup de grace on the entire Iraqi banking system and become punished as a whole,
  
    which will lay off nearly 100,000 workers in the Iraqi private banking sector for the benefit of Jordan and the Gulf countries? And
 
why is it not guaranteed?
 
Iraqi banks are required to open an account in correspondent banks in dollars (Citibank/GBMorgan), as the countries of the region have done. He continued,
 
 “Why has the cooperation and auditing mechanism not yet been identified and announced with Ernst & Young regarding transfers in currencies other than the dollar?”   
 
https://shafaq.com/ar/سیاسة/النزاهة-النيابية-تتهم-موظفا-سابقا-بالبنك-المركزي-بالوقوف-ورا-العقوبات-الامريكية-على-المصارف-العراقية   

Iraq Today Is More Secure, Stable And Open: UN Iraq
 
    Iraq IraqiNews December 6, 2024 Baghdad (IraqiNews.com) – Iraq, which has so far escaped being drawn into the escalating Middle East conflict, has seen positive improvements in recent months, but  
corruption and other challenges still exist, the country’s new UN Special Representative told the UN Security Council.
 
“Iraq today is more secure, stable and open, despite the many obstacles facing the country,” said Mohamed Al Hassan, Iraq’s new UN Special Representative.
 
Iraq “is capable of overcoming crises and facing challenges towards forging a more secure, bright, and hopeful future,” according to the the envoy, who also serves as the head of the UN Assistance Mission in Iraq (UNAMI).
 

“Today’s Iraq is not the same as the Iraq of 20 years ago, or even five years ago,” added Al Hassan.
 
Al Hassan praised Prime Minister Mohammed Shia Al-Sudani’s efforts on behalf of the Iraqi government particularly with regional conflicts in the Middle East.
 
“Iraq’s government has shown strong resolve to keep the country out of the widening regional conflict, while standing firm as a strong voice for regional peace and stability,” said Al Hassan.
 
Furthermore, the UN special representative commended Baghdad’s push for major infrastructure projects throughout the country, including building roads, bridges, schools and transportation networks.   https://www.iraqinews.com/iraq/iraq-today-is-more-secure-stable-and-open-un-iraq/   

The Governor Of The Central Bank Chairs A Meeting Of The Rafidain Bank Restructuring Project Committee
 
December 05, 2024  His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, chaired an expanded meeting to discuss the Rafidain Bank restructuring project.
 
While the committee for this project included
 
     Mr. Undersecretary of the Iraqi Ministry of Finance, Rebaz Muhammad Abdullah,
     officials of the Central Bank of Iraq, the
     State Advisor to the Prime Minister, the
     head of the World Bank mission in Iraq, and a
     representative of Rafidain Bank, as well as
     members of Ernst & Young as an expert auditor and consultant in the structuring process.
 
The Regional Director of the World Bank in Iraq, Mr. Emmanuel Salinas, explained the reality of working on this project, in which  he presented the opportunities available within the banking work environment in Iraq and the mechanism for developing the structuring plan in its operational and financial aspects.
 
Meanwhile, Mr. Firas Kilani, an expert in the structuring project from Ernst & Young, explained that
 
the project has
 
     progressed very significantly since its start in September of 2024 and has
     currently reached 74%.
 
The next phase of the scope of work will be completed at the end of this month, and the   
transition to the phase advanced in this project.

While His Excellency the Governor confirmed that the support of the Prime Minister of Iraq in this aspect positively accelerated the progress of the project, to reach important stages in the structuring and development process in the Rafidain Bank. 

Central Bank of Iraq   Media  Office         https://cbi.iq/news/view/2728   

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