MilitiaMan & Crew-Iraq Dinar News-CBI adds New International Currency- Official Price-Foreign Transfers Enhanced

MilitiaMan & Crew-Iraq Dinar News-CBI adds New International Currency- Official Price-Foreign Transfers Enhanced

12-19-2024

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=Qzpf5-PpMf4

Seeds of Wisdom RV and Economic Updates Thursday Evening 12-19-24

Good Evening Dinar Recaps,

BIS CONSULTATIVE GROUP PROPOSES RETAIL CBDC ARCHITECTURE

According to a BIS report, Jamaica, Nigeria, China, Sweden, the Bahamas and Peru have CBDC programs in various stages of development.

The Bank for International Settlements (BIS) Consultative Group on Innovation and the Digital Economy has proposed a retail central bank digital currency (CBDC) architecture based on a hybrid approach where issuance and governance of the CBDC are handled by a country’s central bank while commercial banks provide consumer-facing services.

According to the BIS, the proposed CBDC framework takes a modular approach to design and will focus on a token-based model to promote privacy.

However, the CBDC architecture will also support account-based models where users have specific accounts tied to an entity. The authors of the proposal wrote:

“Privacy can be guaranteed by separating transaction from identity information, such that the latter remains with private intermediaries and users. This helps to reduce risks and ensure greater privacy protections than in other models.”

Despite promises of privacy, CBDCs are widely seen as the antithesis of permissionless finance, with lawmakers, individuals and even central banks raising concerns about systemic risks, privacy and viability.

CBDCs face widespread backlash

In September, the Bank of Canada backtracked its CBDC development after receiving public feedback indicating that Canadians had little interest in using a central bank digital currency.

In the United States, attorney John Deaton, known in the crypto community for representing XRP holders in the Securities and Exchange Commission lawsuit, vowed to fight against CBDCs.

The lawyer called the campaign against CBDCs “a hill to die on” and said the dangers of a centrally managed digital ledger to individual liberty were a major cause of concern.

A bill introduced by Missouri lawmaker Rick Brattin on Dec. 1 seeks to ban CBDCs in the state. Provisions in the bill would prohibit businesses from accepting CBDCs for payment and prevent any CBDC research or development.

European Parliament member Sarah Knafo recently called on the European Union to abandon CBDCs and adopt Bitcoin.

The European MP said the digital euro was an attempt to usher in totalitarianism and encouraged the European Union to establish a Bitcoin strategic reserve as other nation-states continue accruing the digital currency.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

BINANCE.US TO RESUME USD SERVICES IN EARLY 2025 ANTICIPATING FAVORABLE REGULATIONS

In a latest development, Binance. US plans to resume USD services in early 2025, anticipating changes in U.S. crypto regulations. The exchange halted fiat operations in 2023 due to regulatory pressure and SEC claims.

Interim CEO Norman Reed noted on Wednesday that the current SEC administration has caused significant harm to American consumers and the crypto industry, including Binance.US.

SEC’s Regulatory Assault

In June 2023, the SEC accused the subsidiary of violating securities laws. It alleged the company offered unregistered investment products and engaged in anti-fraud practices. The platform has operated under restricted banking access since June 2023, when SEC civil claims triggered a suspension of dollar deposits and withdrawals.

He noted that a key part of this regulatory assault was a concerted initiative by the outgoing administration to unjustly deny cryptocurrency and fintech businesses access to banking services. Reed argues that the SEC’s resistance to innovation has hindered the U.S. financial system’s potential and blocked most Americans from accessing the benefits of blockchain technology.

Going Ahead With Optimism

Despite ongoing legal battles with the SEC, he is optimistic, emphasizing that the SEC has failed to provide evidence of any wrongdoing after 17 months of compliance. Looking forward, with Paul Atkin’s nomination as the next SEC Chair, he foresees a clear regulatory framework for digital assets in the U.S.

As USD services prepare for a return, Binance.US plans to launch new features in the coming months and expand its product lineup.

“While I can’t provide a definitive launch date yet, let me be clear: It is not a matter of if, but when,” interim CEO Norman Reed said in the statement. “We are closer than ever to restoring USD services and our plan is to achieve this important milestone in early 2025,” he added.

He underscored that the platform offers unique features, including 0% fee Bitcoin trading on BTC/USDC, which no other major U.S. crypto platform provides. It also supports 160 cryptocurrencies and staking for over 20 assets, offering more options than any other major on-chain staking platform in the U.S.

He strongly believes that 2025 will be a breakout year for Binance.US, with the teams working hard at building a comeback story for the ages.

@ Newshounds News™

Source:  CoinPedia

~~~~~~~~~

🌱SOVEREIGN VS CITIZEN #CONSTITUTION #SOVEREIGNTY   |  Youtube

Mason speaks about Sovereign vs Citizen.

@ 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 Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 12-19-24

Good Afternoon Dinar Recaps,

BRICS CREATOR SAYS INDIA WILL BE 3RD LARGEST GLOBAL ECONOMY & KEY MEMBER

Things have changed dramatically for the BRICS bloc since the acronym was first coined in 2001. Over the last two years, it has become a key voice in the geopolitical and global economic sectors. Now, BRICS Creator Jim O’Neill has recently expressed his view on its trajectory, while noting that India is poised to soon be the third-largest global economy and a key alliance member.

In a recent interview with The Economic Times, the economist discussed the growth rate of the country. Specifically, he noted that India is “doing almost exactly what we thought over 20 years ago, and that is in the process of becoming bigger than Japan and Germany” and becoming a global force.

India Poised to be BRICS Leader? Jim O’Neill Discusses Shifting Power Balance

The last two years have seen the BRICS economic alliance notably increase in prominence. A massive reason for that has been its seeking of increased independence from a Western-dominated economic system. With de-dollarization being the focus, it has sought to increase the use of its own local currencies.

But that recent surge in prominence has overlooked the reality that the bloc has been in existence for more than 20 years. Moreover, it has continued to shift and change throughout that time. Now, the latest shift could be upon us. Indeed, BRICS creator Jim O’Neill has recently said India may well be on its way to being the third-largest global economy and a key BRICS member.

In a recent interview, O’Neill says India could be on its way to entering the top 3 “in the next five to ten years.” Moreover, he notes that the BRICS country is presented with a key opportunity in the near term.

“This is India’s chance to really demonstrate its ubiquity with some of the natural things in India’s favor.” Specifically, he noted that it is among the younger nations within the bloc. That is not the case for China, one of the key economies in the bloc. Moreover, it should lead to an increased labor force, while they should be able to thrive in a world shifting under a Trump-run America.

Interestingly, India’s relatively low global trade could help them as Trump returns to the White House, O’Neill notes. Tariff plans would not be as big a threat to the nation in the coming years. Meanwhile, the economist notes that Modi and India have been sought out by G7 and BRICS nations. They want India as an ally, and it is due to its strong growth prospects in the coming years.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

HONG KONG APPROVES 4 NEW CRYPTO TRADING PLATFORM LICENSES IN REGULATORY PUSH

The licensed platforms must meet rigorous standards and undergo evaluations to ensure compliance with global security practices.

Hong Kong’s Securities and Futures Commission (SFC) has issued licenses to four virtual asset trading platforms (VATPs), marking another step in its fast-tracked regulatory framework, according to a Dec. 18 statement.

The licensed platforms include:  Accumulus GBA Technology Ltd, DFX Labs Company Ltd, Hong Kong Digital Asset EX Limited, and Thousand Whales Technology (BVI) Ltd.

This brings the total number of licensed crypto trading platforms in the Asian city allowed to serve retail customers to seven, including HashKey Group, OSL, and the Hong Kong Virtual Asset Exchange (HKVAX).

Licensing regimes

The SFC stated that the recently licensed firms underwent rigorous on-site inspections earlier this year as part of the guidelines introduced in June. The inspections identified areas for improvement, which the firms addressed to secure their restricted licenses.

The licenses come with initial restrictions, but these will be lifted after the platforms pass a second-phase assessment by external evaluators. The process will ensure the platforms meet the required regulatory standards for full operational functionality.

The SFC emphasized that the VATPs must conduct vulnerability assessments and penetration tests through independent third parties. These evaluations are critical to maintaining security and align with global international standards.

The SFC’s Executive Director of Intermediaries, Eric Yip, stated that the licensing process involved close collaboration with the VATPs’ leadership teams. He highlighted the Commission’s dual focus on protecting investors while fostering growth in Hong Kong’s virtual asset ecosystem.

Yip said:

“We aim to strike a balance between safeguarding the interests of investors and facilitating continuous development for the virtual asset ecosystem in Hong Kong.”

Meanwhile, this development aligns with the SFC’s broader plan to expand the licensing of crypto businesses by year-end. In October, the regulator revealed that 11 additional VATPs are under license consideration, with approvals expected to roll out in batches.

The SFC’s proactive approach highlights Hong Kong’s commitment to becoming a global hub for virtual asset innovation while maintaining robust investor safeguards.

@ Newshounds News™

Source:  CryptoSlate

~~~~~~~~~

News on Crypto Regulations for the US!  Bullish news for Utility Crypto!

Rich (CSC) announces that in early January, Congress will be passing crypto regulations soon after returning from break on January 3rd.  This will be followed by mass adoption of the utility ISO 20022 coins we have been talking about which will lead to the new financial system followed by the RV.  But we still have a while for all this to happen.  It just looks like it is all coming together a little sooner with regulations being addressed before the inauguration of Trump.  All good news.  

@ Newshounds News™

Source:  Common Sense Crypto

~~~~~~~~~

OHIO JOINS GROWING TREND OF STATES CONSIDERING BITCOIN RESERVES

@ Newshounds News™

Source:  The Defiant

~~~~~~~~~

FOREX TRADING: THE TAX SECRETS THEY WON'T TELL YOU  |  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 Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps

Ariel: The Final Step and Deleting the Zeros

Ariel: The Final Step and Deleting the Zeros

12-19-2024

Iraq Dinar Update (Important Read)

#4 The Final Step

First Strategic Objective: Support and Enhance Monetary Stability

This strategic framework outlines four key sub-objectives with their corresponding initiatives to maintain monetary stability:

1. Stability of the General Level of Prices

– Issue medium or long-term securities capabilities
– Manage monetary policy rates in alignment with monetary stability and economic growth requirements
– Support and stimulate microfinance development
– Implement a comprehensive national lending strategy

2. Stability of Exchange Rates

– Transition from platform-based to correspondent bank systems for foreign remittance procedures

3. Manage Reserves According to Best Practices

– Diversify investment tools based on source
– Enhance and increase gold reserves

4. Improve the Quality and Structure of the Iraqi Currency

– Introduce new high-quality currency issues with reduced environmental impact
– Establish a dedicated currency examination laboratory
– Implement automation for cash operations, including counting and sorting functions

Do you see how close we are? What is the 1st thing they have to do in #4? Introduce a new currency correct? And they also stated that they want to complete this within 10 days which brings us to Christmas.

Everything started on December 15th. This is where the 10 days come from.

What does this mean for an foreign investor like Americans or other?

U.S. investors who purchased IQD at a fraction of its nominal value (e.g., 1 IQD = 1/100th of a U.S. cent) have effectively acquired significant amounts of IQD for very little USD.

For example, if you spent $1 to purchase IQD, you might currently hold a substantial number of IQD notes because of the historically low exchange rate.

A reinstatement or revaluation at a 1:1 exchange rate (1 IQD = 1 USD) would mean each IQD note would be worth one U.S. dollar.

Example: A 100,000 IQD note, purchased for a minimal cost, would convert to $100,000 USD under a 1:1 exchange rate.

If the value of the IQD increases beyond 1:1 to, for example, 1:3 (1 IQD = 3 USD), the same 100,000 IQD would convert to $300,000 USD. At 1:8, it would convert to $800,000 USD.

What a 100k IQD Note Will Be Worth Once You Convert It To USD Upon Revaluation?

1:1 (100k)
1:2 (200k)
1:3 (300k)
1:4 (400k)
1:5 (500k)
1:6 (600k)
Etc.

This basic math. Because regardless if you hold IQD this will be what the exchange rate will be on the Forex. People who attempt to buy IQD after the reinstatement on international markets will not see any profits. Only those who bought IQD at 1/100th of its price for pennies on the dollar.

When Iraq talks about “deleting the three zeros,” it typically refers to removing the zeros from the exchange rate, not necessarily from the physical currency itself. This is why people are confused. You think they will take out a magic marker and erase zeros off a paper currency?

Please give me your IQD so I can save you from disappointment. I, promise I will not give it back.

Article Here: https://jaredaiq.net/News/7929

These are the 3 zeroes on the exchange rate they will be deleting. Which will make 0.00076/0.76. Not the currency. Which means if you have 100k once it goes international you would gain only 0.76/76,000 USD/ROI.

So imagine the other examples of 1:1 or higher?

https://dinarchronicles.com/2024/12/18/ariel-prolotario1-the-final-step-and-deleting-the-zeros/

Iraq Economic News And Points To Ponder Thursday AM 12-19-24

Get Ready.. The Exchange Rate Is On Track For A New Rise: The Dollar Selling Platform Will Stop And “The Shock Is Coming”

 Economy ​ 12-17-2024, 15:38 |Baghdad today – Baghdad    Economic affairs specialist Nasser Al-Tamimi warned today, Tuesday (December 17, 2024), of a rise in the dollar exchange rates in Iraq in the coming days.

 Al-Tamimi told “Baghdad Today” that   “there are real fears in the Iraqi market about the continued rise in dollar exchange rates after the platform was suspended by the Central Bank of Iraq,” noting that   “this matter will constitute a shock, especially at the beginning of the implementation of the decision and will push for a rise.”

The dollar, to increase demand for it in the parallel market.” He added,

"After stopping the platform, most merchants, especially small ones, will rely on the parallel market to finance their foreign trade, while continuing to finance trade with Iran and Turkey with dollars, in illegal ways," pointing out that

 "this is what will push the rise and that is why practical steps must be taken to prevent This is done by the monetary authority in the country, and urgently.”

 On Wednesday (September 4, 2024), the Central Bank of Iraq revealed the mechanism for ending the electronic platform for external transfers, while indicating that placing external transfer operations and meeting requests for the dollar is on sound paths and consistent with international practices and standards. The bank said in a statement received by “Baghdad Today” that

 “the electronic platform for external transfers managed by the Central Bank of Iraq began at the beginning of 2023 AD as a first stage to reorganize financial transfers in a way that ensures proactive control over them instead of subsequent control through the Federal Reserve auditing daily transfers.”

 This was an exceptional measure, as the Federal Reserve does not usually undertake this, and

 a gradual shift was planned towards building direct relationships between banks in Iraq and foreign correspondent and accredited banks, with an international auditing company mediating this. By pre-scrutinizing transfers before they are executed by correspondent banks. He added,

 "During the year 2024 and until now, 95% of the transfer process has been achieved from the electronic platform to the direct correspondent banking mechanism between it and the Iraqi banks.

 This means that only about 5% of it remains inside the platform, which will be transferred through the same mechanism before the end of this year." year and according to the plan,” explaining that

 “some expectations about possible effects on the exchange rate and transfer operations are unfounded, because  the process will not happen suddenly or in one batch at the end of this year, but rather  it was already achieved during the period.”

"With effort and careful follow-up, the remaining small percentage will be completed in the next short period." He stressed that   "trade with the United Arab Emirates, Turkey, India, and China represents about 70% of Iraq's foreign trade as (imports),

 which called on the Central Bank of Iraq to find channels for transfer in the currencies of the euro, the Chinese yuan, the Indian rupee, and the Emirati dirham, via correspondent banks." approved in those countries, and

 (13) Iraqi banks have already begun conducting transfer operations with a pre-audit mechanism that has been agreed upon and approved, in addition to transfers in the dollar currency.”

He continued:  “With the provision of channels for   personal transfers for legitimate purposes and   foreign purchases through electronic payment channels and international money transfer companies,

  cash sales to travelers, and   payment of cash dollars for incoming transfers to the destinations and purposes specified in the Central Bank’s published instructions.”

The Central Bank of Iraq stressed that it has “put external transfer operations and meeting requests for the dollar on sound paths and are consistent with international practices and standards and the law on combating money laundering and the financing of terrorism,” explaining that

 “providing the aforementioned channels for all purposes at the official price of the dollar makes this price the real indicator of practices.”

This is proven by the reality of price stability and inflation control, and any other price that is traded outside these channels is considered an abnormal price that is resorted to by those who resort to non-fundamental or illegal practices who stay away from official channels in their dealings.

 They alone bear the additional costs by purchasing at a higher price than the official price, in order to deceive others about the difference between the official price and others.”  https://baghdadtoday.news/264127-استعدوا.-سعر-الصرف-على-موعد-مع-ارتفاع-جديد-منصة-بيع-الدولار-ستتوقف-والصدمة-قادمة.html   

Iraq is outside the list of major countries holding US bonds
 
Money and business Economy News - follow up   The US Treasury Department announced on Tuesday that Iraq is no longer a major foreign holder of US bonds.
 
According to the Treasury report for September, which showed that Iraq was not among the top 20 countries that hold US bonds, after last year it was ranked among the top holders with a holding amounting to $32.6 billion.

The report indicated that  “Japan topped the list of major countries in possession of US bonds, as its possession amounted to $1.123 trillion, followed by  China in second place with a possession of $772 billion, while the United Kingdom came third with $764 billion, and the  Cayman Islands came fourth with $420 billion.”

Luxembourg is fifth with $417 billion, and  Canada is sixth with $370 billion.
 
The report indicated that Saudi Arabia was the only Arab country that maintained its position among the 20 largest holders of US bonds, as its holding amounted to $143.9 billion.
 
The report indicated that the total holdings of US bonds around the world amounted to 8 trillion and 872 billion dollars in September.
 
US bonds are a type of debt instrument issued by the US government to raise money, and  many countries buy them as a safe investment.
 
In past years, many Arab and foreign countries, including Iraq, owned large amounts of these bonds, and
 over time, Iraq's possession of American bonds decreased until it fell out of the list of the top 20 countries holding these bonds.  views 249   https://economy-news.net/content.php?id=51026   

The Central Bank Expands External Transfer In New Currencies
 
Thursday 19, December 2024 11:24 | Economical     Number of readings: 81  Baghdad / NINA / The Central Bank of Iraq announced the expansion of external transfer channels for local banks,
to include new currencies: the
 
     Jordanian dinar and the
     Saudi riyal, and to
     allow Iraqi banks to finance trade with Turkey in the euro, after it was limited to use with European Union countries,  in addition to transfers available in currencies.
 
     US dollar,
     UAE dirham,
     Chinese yuan and
     Indian rupee.
 
The bank explained in a statement: 
“This step comes as part of its efforts to expand options for financing foreign trade in various currencies and channels,” indicating that  it has begun taking the necessary measures to meet banks’ requests in these currencies. He pointed out:

 “This expansion of external transfer channels 
     provides transfer operations at the official rate, and
     aims to streamline the transfer and
     involve a larger number of banks in external transfer operations, and
     expand the horizons of economic cooperation between Iraq and other countries,
 
especially in light of the bank’s endeavor to find other channels to meet the volume of The demand for various foreign currencies according to Iraq’s dealings with those countries.” / End 3 
 
https://ninanews.com/Website/News/Details?key=1175491   

Specialists Suggest Restructuring Some Banks Similar To Government Ones
 
Economical 12/19/2024  Al-Sabah: Hussein Falih  Experts and specialists in financial and banking affairs stressed the need to redouble efforts aimed at restoring customers’ confidence in banks, stressing that  
this step would absorb the accumulated cash mass and increase the volume of deposits,
 
calling at the same time for the restructuring of some private banks similar to government ones.
 
Financial advisor Abdul Rahman Al-Sheikhli told Al-Sabah: 
The Iraqi banking system was suffering from many problems, especially before 2003 as a result of the lack of private banks,
 
but after 2003 work expanded to establish many banks, but
 
most of them did not keep pace with international systems and standards, so it was You suffer from a lot of problems. Al-Sheikhly added that
 
restructuring
 
during the last year and a half, specifically after the imposition of US Federal sanctions on some banks, all of them began seeking to restore their status in a manner consistent with international standards, stressing the
 
necessity of restructuring some banks in order to be supported by international standards. The financial advisor pointed out the
 
Hoarding money
 
necessity of restoring trust between the banking institution and the customer, as
 
it was lost a long time ago,
 
which prompted citizens to hoard their money outside banking channels for the purpose of preserving its timely disposal, because
 
some private banks due to
 
     circumstances beyond their control,
     mismanagement, and
     other matters.

It kept the citizen away from the banks. The spokesman pointed out

Electronic systems
 
the necessity of 
     moving completely towards automation and the
     use of modern electronic devices in a manner commensurate with the large size and responsibility undertaken by banking institutions, stressing that
 
in the recent period these banks have begun to change their work towards electronic systems according to the government’s directions. Al-Sheikhli explained that the
 
Sound system
 
Prime Minister recently focused on a very important aspect, which is 
     restructuring government banks, first, and
     then private banks, where  
government banks began, especially in the Rafidain Bank, and the 
completion rate for this project reached the range of 74 to 75 percent, and
what remains is only less than 25 percent and perhaps It will be completed soon, so 
we will have a wonderful model of a very sound banking system that we can adopt and emulate in other banking institutions.
 
Serious steps 
For his part, the expert in financial and banking affairs, Mustafa Akram, said in an interview with “Al-Sabah”:  The government has begun serious steps to rehabilitate and develop the Iraqi banking system, as  most banks, especially private ones, suffer from backwardness as a result of monetary policies, indicating that the   government has focused on
 
     automating the work of banks and introducing a
     system Electronic payment in order to develop the Iraqi banking system.
 
Digital transformation
 
It is noteworthy that the Association of Private Banks recently announced an increase in deposits in the banking sector during the last two years, while  indicating the government’s great interest in the recent period regarding digital transformation in general and the shift towards an electronic payment system, and that “during the last two years deposits in the banking sector increased,
 
Nearly 75 percent of the monetary mass is outside the banking system and requires a great effort to motivate citizens, companies, and institutions to use the banking system more, which is what is currently happening, but  this type of work needs to be accelerated to control financial operations in Iraq.    https://alsabaah.iq/107455-.html 

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

Seeds of Wisdom RV and Economic Updates Thursday Morning 12-19-24

Good Morning Dinar Recaps,

GERMANY’S DEKABANK LANDS CRYPTO CUSTODY LICENSE

Germany’s DekaBank has received a bank crypto custody license from German regulator BaFin and the European Central Bank (ECB). We believe Commerzbank was the first German bank licensed last year. However, other major banks have not received licenses, including DZ Bank.

BaFin has issued another 11 crypto custody licenses, mainly for crypto firms. One of them is the digital asset custody subsidiary of Hauck Aufhäuser Lampe Privatbank.

The difference with DekaBank and Commerzbank versus the crypto firms is they are licensed under the Banking Act (KWG).

This is DekaBank’s second new license this year. In July it received a license as a crypto securities registrar for the German issuance of DLT-based digital securities. These crypto securities don’t require a central securities depository (CSD) for issuance.

DekaBank is very active in the digital asset space. It is the founder of SWIAT, the blockchain platform for digital securities in which Standard Chartered and LBBW are also investors. In September Siemens used the platform to issue a €300 million digital bond.

Our understanding is that a crypto custody license is not needed for crypto securities, but is required for cryptocurrencies.

As part of the announcement, DekaBank said this allows the bank to operate throughout Europe under the EU’s MiCAR crypto legislation.

A MiCAR holdup?

We’ve previously reported that there’s a bit of a challenge with MiCAR for German institutions. In October 2023 a draft version of the Supervision of Crypto Markets Act (KMAG) was introduced. It’s the piece of legislation that supplants Germany’s old crypto rules with MiCAR. The problem is this legislation has not been passed and with the collapse of the German ruling coalition, it’s not likely soon.

Hence, while in theory DekaBank’s license will allow it to operate in the EU, we believe that may be subject to the passage of the KMAG law. We contacted DekaBank to confirm, but didn’t receive a response in time for publication.

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

XRP LAWSUIT: JOHN REED STARK SAYS JUDGE TORRES WAS ‘MISTAKEN,’ SLAMS RIPPLE DECISION

The legal battle between Ripple and the SEC has been gaining momentum as the January 15 hearing approaches. John Reed Stark, a former SEC enforcement official and crypto skeptic, recently appeared on Docket Media LLC podcast and opened up about the historic Ripple decisions. He said that the Ripple ruling doesn’t provide broad legal clarity and should only be applied to cases with similar specific facts.

He criticized the Ripple decision, claiming that many people misunderstand the ruling, likely because they haven’t fully read it. He argued that Judge Torres was ‘mistaken on multiple counts, a view shared by other judges who have reviewed the case.

“There’s so many things about the Ripple decision that people get entirely wrong because I don’t think they read it. It’s completely… it’s respectfully to Judge Torres, I think she was mistaken on multiple counts, as does Judge Rakoff and every single other judge that has looked at that decision (thought),” he said.

Stark pointed out that the Ripple decision was twofold. First, he agreed that the initial offering of XRP tokens to sophisticated investors should have been registered as securities to protect those investors. However, Stark disagreed with the decision when it came to the secondary market, where XRP was traded on exchanges.

‘Ripple Decision Created Confusion’

He argued that the lack of a direct relationship between Ripple and retail investors meant they weren’t protected, which he believes is an unfair argument. Stark compared it to buying stocks in companies, where investors don’t have a direct contractual relationship with the company but are still protected under securities regulations.

Stark also criticized the Ripple decision for creating confusion, especially after pro-crypto companies began citing it to argue that tokens were not securities. In response, the SEC sought an interlocutory appeal, hoping to stop the ongoing proceedings. However, the judge rejected the SEC’s request, stating that the Ripple decision could not be used as precedent unless the exact same circumstances were present.

@ Newshounds News™

Source:  CoinPedia

~~~~~~~~~

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 Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps

“Tidbits From TNT” Thursday Morning 12-19-2024

TNT:

Tishwash:  In Jordanian Dinar and Saudi Riyal..Iraq expands foreign transfers with new currencies

The Central Bank of Iraq announced, on Thursday, the expansion of external transfer channels for local banks, to include new currencies other than the dollar, namely: the Jordanian dinar and the Saudi riyal.

The bank also decided to allow Iraqi banks to finance trade with Turkey in euros, after it was previously restricted to use with European Union countries, in addition to transfers available in US dollars, Emirati dirhams, Chinese yuan and Indian rupees.

The bank explained in a statement today that "this step comes within its efforts to expand foreign trade financing options in various currencies and channels, and the bank has begun taking the necessary measures to meet banks' requests in these currencies."

The statement also indicated that "this expansion in the foreign transfer channels provides transfer operations at the official price, and aims to streamline the transfer and involve a greater number of banks in foreign transfer operations, and expand the horizons of economic cooperation between Iraq and other countries, especially in light of the bank's efforts to find other channels to meet the volume of demand for various foreign currencies according to Iraq's dealings with those countries."

The bank confirmed that "a smooth transition took place during 2024 from the electronic platform to directly approved correspondent banks, and thus the Central Bank achieved a fundamental transformation in line with international banking practices, and this transition is widely praised." link

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

Tishwash:  Central Bank of Iraq expands foreign transfers with new currencies

The Central Bank of Iraq announced the expansion of foreign transfer channels for local banks to include new currencies: the Jordanian dinar and the Saudi riyal, and allowing Iraqi banks to finance trade with Turkey in euros after it was previously limited to using them with European Union countries, in addition to transfers available in US dollars, Emirati dirhams, Chinese yuan and Indian rupees.

The bank explained that this step comes within its efforts to expand foreign trade financing options in various currencies and channels, and the bank has begun taking the necessary measures to meet banks' requests in these currencies.

The Central Bank indicated that this expansion in foreign transfer channels provides transfer operations at the official price, and aims to streamline transfers and involve a greater number of banks in foreign transfer operations, and expand the horizons of economic cooperation between Iraq and other countries, especially in light of the bank's efforts to find other channels to meet the volume of demand for various foreign currencies according to Iraq's dealings with those countries.

It is worth noting that a smooth transition took place during 2024 from the electronic platform to directly accredited correspondent banks, thus the Central Bank achieved a fundamental transformation in line with international banking practices, and this transition is widely praised.

Central Bank of Iraq
Media Office
December 19, 2024  link

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

Tishwash:  Iraq Stock Exchange: Global Aspirations Amidst Internal Challenges

Financial markets are one of the modern economic pillars through which savings are directed towards investment, in addition to expressing the strength and stability of the economic stability in any country. Therefore, activating and developing the stock market is considered one of the basic matters that will help achieve development in Iraq, as it will provide investors with greater opportunities to invest in stocks and achieve profits.

However, the Iraqi Stock Exchange, when compared to the markets of neighboring countries, is considered small in terms of trading value, as foreign investors’ confidence in the Iraqi market is still low due to unstable political and economic factors, as well as administrative and legal procedures that hinder the opening of accounts for foreign investors and the transfer of profits.

The market was established in 1992 under the name of the Baghdad Stock Exchange pursuant to Law No. 24 of 1991. After 2003, its name was changed to the Iraq Stock Exchange. It was governmental and at that time was able to list 113 Iraqi private and mixed joint-stock companies.

Weakness of industry and agriculture

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, said in an interview with Shafaq News Agency, "Iraq inherited a one-sided economy that lives on oil revenues due to half a century of wars, conflicts, siege and economic isolation."

He added, "Unfortunately, the two most important sectors that form the backbone of the stock market's diversity are industrial manufacturing companies, agricultural companies, and the logistics companies associated with them, and these two sectors are very weak."

He continues, "The agricultural and industrial sectors only constitute 6 to 7% of the gross domestic product, and most of their activity is individual and non-contributing. It is natural for the market to follow the trend of the overall economy and its nature in terms of the degree of diversity."

Saleh points out that “the banks’ share in the stock market dominates more than 50% of the market’s activity, and there are commercial activities associated with it. This is due to the liberalization of the national economy with high liberalism that transformed the single-rent economy into a consumer market economy linked to external supply chains due to the high financing leverage provided by oil revenues and the operating expenses associated with them.”

He stressed that "the new economic policy of the state is based on a productive partnership between the state and the private sector to raise the levels of economic diversity. Therefore, the strength of the stock market is undoubtedly linked to the strength of economic diversity in our country."

Limited market hours

The broker in the Iraqi Stock Exchange, Mohammed Madloul, said in an interview with Shafak News Agency, "The Iraqi market is still backward compared to the countries of the region. For example, Egypt and the Emirates have a price tape for stocks that remains open for 24 hours in public squares and streets, and any citizen can buy company shares from outside the market. However, the situation in Iraq is limited to specific hours, and the market ends between the seller and the buyer during these hours."

He added, "The value of shares of some listed companies is being traded at prices lower than the dinar so far, which represents an image of the small size of investment that the market is suffering from," adding that "the market value of banking sector companies increased from 6.88 trillion Iraqi dinars in 2021 to reach 10 trillion dinars in 2024."

Small market

Economic expert Dhurgham Muhammad Ali said in an interview with Shafaq News Agency, "The Iraqi market is still small due to the lack of large companies and a strong private sector in Iraq, and thus the market's performance reflects the weakness of the various Iraqi development sectors and the public's weak confidence in it."

He explained that “trading in the market is still technically less than its Gulf counterparts, and we lack sound management of investment portfolios, and the value and volume of the stock exchange’s performance is directly proportional to the efficiency of the companies whose shares are listed on it, in addition to the weakness of brokerage firms and the restrictions imposed by the market on their work and the weak influence of the Securities and Exchange Commission, the supervisor and legislator of the local stock exchange.”

Smart devices for the market

For his part, the Executive Director of the Iraq Stock Exchange, Taha Ahmed Abdul Salam, pointed out in an interview with Shafak News Agency, that "economic and political stability play an important role and the future vision of joint-stock companies."

He explained that "the number of joint-stock companies in the market has increased from 105 to 107 companies, and we are working on listing new companies, which all play a role in attracting new investors."

He added, "The Iraqi market signed a contract with the Egyptian Stock Exchange to use OMS, which allows users to trade via smart devices, and we expect it to be launched in June or July of next year."

The Iraqi Stock Exchange is expected to witness a significant increase in the coming months and years, especially with the improvement in the revenues of the listed companies and the development of their businesses, which makes it a market capable of attracting domestic and foreign investments  link

Mot: And the Same ole Earl!!! 

Mot: ... Getting those Letters Sent in EARLY!!!! 

MilitiaMan & Crew-Iraq Dinar News-Electronic Transfers-Shocks to Parallel Market-United Nations-IMF-Praise Iraq

MilitiaMan & Crew-Iraq Dinar News-Electronic Transfers-Shocks to Parallel Market-United Nations-IMF-Praise Iraq

12-18-2024

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=QDry3YCfW8k

Seeds of Wisdom RV and Economic Updates Wednesday Evening 12-18-24

Good evening Dinar Recaps,

EL SALVADOR SECURES IMF DEAL AS BITCOIN ACCEPTANCE TURNS VOLUNTARY

The $1.4 billion IMF agreement establishes voluntary Bitcoin acceptance in the private sector while limiting public sector involvement.

▪️El Salvador reached a $1.4 billion agreement with IMF making Bitcoin acceptance voluntary.

▪️The deal includes fiscal measures and expects $3.5 billion additional financing from World Bank and regional banks.

El Salvador has secured a $1.4 billion agreement with the International Monetary Fund (IMF), marking a shift in the country’s crypto policies by making Bitcoin acceptance voluntary.

The agreement, which requires IMF Executive Board approval, includes fiscal consolidation measures targeting a 3.5% improvement in the primary balance over three years.

El Salvador’s public debt, which reached 85% of GDP in 2024, is expected to decrease under the program.

The deal anticipates additional financing of $3.5 billion from the World Bank and regional development banks to support the country’s economic reforms.

As part of the agreement, El Salvador will reduce Bitcoin’s role in its economy.

The government plans to make private sector adoption of Bitcoin voluntary while limiting public sector involvement.

Taxes will only be accepted in US dollars, further scaling back Bitcoin’s official use.

Officials will also gradually wind down the state-backed Chivo e-wallet operations and restrict Bitcoin-related transactions.

The announcement coincides with Bitcoin’s price decline to just above $100,000, following its recent all-time high of $108,000, as markets react to the Federal Reserve’s hawkish stance on interest rates.

El Salvador’s economy shows resilience amid these changes, benefiting from strong remittances, growing tourism, and improved security conditions.

@ Newshounds News™

Source:  Crypto Briefing

~~~~~~~~~

HONG KONG'S HASHKEY GROUP LAUNCHES ETHEREUM LAYER 2 HASHKEY CHAIN ON MAINNET

▪️HashKey Group has launched its Ethereum Layer 2 HashKey Chain on mainnet.

▪️HashKey joins other crypto firms like Coinbase and Kraken in building their own Layer 2 networks using the OP Stack.

HashKey Group has launched HashKey Chain on mainnet just eight months after first announcing plans to introduce its own Ethereum Layer 2.

HashKey Group is a Hong Kong-based regulated digital asset financial services provider offering trading, asset management, custody and blockchain ecosystem solutions.

During the testnet phase, which began on Nov. 11, the firm claims that HashKey Chain generated nearly 25 million transactions, registered more than 860,000 wallet addresses and achieved 400 transactions per second under test conditions.

A total of 50 projects were successfully deployed, with 300,000 community members actively participating, it said in a statement shared with The Block.

Similar to Coinbase’s leading Layer 2 network Base and Kraken’s upcoming Ink, HashKey Chain joins the broader Ethereum ecosystem as part of the Superchain — a network of interoperable Layer 2 blockchains built using Optimism's OP Stack, which enables seamless communication and scalability across networks.

Other projects, including OP Mainnet itself, Zora and Worldcoin, have already deployed Layer 2s on the Superchain, with the decentralized exchange Uniswap unveiling its own Unichain optimistic rollup plans in October.

“Leveraging the latest OP Stack and rollup technology, we have expanded network capacity to deliver a smoother user experience,” HashKey Eco Labs CEO Kay Lu said. “This also creates a secure, efficient, and developer-friendly environment for building transformative decentralized applications on a compliant and innovation-driven public chain.”

@ Newshounds News™

Source:  The Block

~~~~~~~~~

🌱THE REPUBLIC CITIZENSHIP #SOVEREIGNTY  |  Youtube

Mason on Citizenship

@ 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 Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps

Dr. Ron Paul: Hope for American Liberty

Dr. Ron Paul: Hope for American Liberty

Palisades Gold Radio: 

Tom Bodrovics welcomes back former congressman Dr. Ron Paul from Texas and Liberty Report host to discuss the link between liberty and the economy.

Dr. Paul insists that freer societies are more prosperous, advocating for a sound monetary policy as crucial for economic health. He condemns interventionist policies and criticizes the Federal Reserve's manipulation of interest rates, citing 1921 as evidence of a hands-off approach leading to a better recovery from an economic downturn.

During the conversation, Dr. Paul expresses his aspiration to terminate the Federal Reserve and proposes steps towards accomplishing this goal, including repealing the Federal Reserve Act and enforcing the Constitution.

Although he acknowledges that the process might not be easy due to the nation's addiction to low-interest rates and easy money, he emphasizes the importance of recognizing inflation as a tax on people's money and advocates for Fed auditing as a path to transparency.

Dr. Paul supports gold-backed bonds as a means of promoting fiscal restraint and offering individuals a valuable savings opportunity.

He denounces tariffs as an ill-conceived solution for economic matters, suggesting instead the elimination of burdensome business regulations. Furthermore, Dr. Paul expresses concerns about government information's lack of transparency and encourages citizens to educate themselves on constitutional principles in order to safeguard individual liberties.

Dr. Paul concludes by urging listeners to act upon their convictions and principles, underlining the significance of education in history and economics.

He also presents his homeschooling curriculum as a substantial contribution to fostering individual liberty and countering excessive government control over education and healthcare. Ultimately, Dr. Paul underscores the importance of personal accountability and the risks of government intervention in diverse areas.

 Time Stamp References:

 0:00 - Introduction

0:36 - Economics of Liberty

 3:24 - Government Efficiency

5:00 - Audit & End The Fed

12:58 - Shelton & Gold Bonds

 14:36 - Tariffs & Regulations

23:12 - Accurate Information?

 25:36 - What Should We Do?

27:29 - Wrap Up

Talking Points From This Episode

Dr. Paul advocates for ending the Federal Reserve and promoting sound monetary policy.

He supports gold-backed bonds, fiscal restraint, and eliminating excessive regulations.

Dr. Paul emphasizes individual responsibility and education as keys to liberty.

https://www.youtube.com/watch?v=2sDVB8heBFo

Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 12-18-24

Good Afternoon Dinar Recaps,

BREAKING: FED SLASHES INTEREST RATES BY 25 BPS

The US Federal Reserve has finally announced its eighth and last policy decision for 2024 after a two-day Federal Open Market Committee (FOMC) meeting. It has cut interest rates by 25 bps. Notably, this is the third rate cut in 2024 from the Fed.

Notably, Wall Street had expected the central bank to slash the benchmark interest rate by 25 basis points (bps) for the second straight meeting after lowering it to 4.50 – 4.75 per cent in November. Markets were confident in a rate reduction, with CME Group’s FedWatch tool indicating a 99% probability.

The last policy verdict by the central bank came just after Republican Donald Trump secured a landslide victory in the 2024 US Presidential elections. In the September meeting, the US Fed slashed the benchmark interest rate by 50 basis points to 4.75 per cent-5 per cent for the first time in four years after policymakers expressed confidence that inflation was consistently on track to come near the target level.

Fed Not In A Hurry To Slash Rates

The US Fed policymakers estimate the benchmark interest rate falling by another half-point by the end of this year, another full percentage point in 2025, and a final half-point reduction in 2026 to end in a 2.75 per cent-3.00 per cent range.

The Fed Chair Chairman Jerome Powell had earlier indicated that the committee is in no hurry to reduce the key benchmark interest rates and that the committee will be more careful in the rate cut approach.

Also, earlier, Goldman analysts referenced a speech by Beth Hammack, president of the Federal Reserve Bank of Cleveland, where she stated that resilient growth, a strong labor market, and elevated inflation justify maintaining a modestly restrictive monetary policy for some time, as it could help to “sustainably return inflation back to 2 percent in a timely fashion.”

Impact On Crypto

“While a rate cut is undoubtedly favorable for Bitcoin’s price, the market appears to have already priced in a 25 basis point cut in December,” Min Jung, research analyst at Presto Labs, noted. He added that, as a result, the actual rate cut may have a minimal direct impact on Bitcoin’s price.

Jung emphasized that attention will turn to the December FOMC meeting’s Summary of Economic Projections and comments from Powell on future rate cuts. He noted that any unexpected developments or surprises from these factors will likely be the key drivers of Bitcoin’s price action.

Just recently, Bitcoin (BTC) took a pause after hitting an all-time high of $108,268 as traders awaited the Federal Reserve’s anticipated interest rate cut and optimism from strategic Bitcoin reserve plans.

@ Newshounds News™

Source:  CoinPedia

~~~~~~~~~

BRICS NEWS:  BRICS ANNOUNCE PARTNER NATION RULES WITH ONE KEY DIFFERENCE

With the BRICS expanding for the second time in two years, the economic alliance has announced its newly instituted partner nation rules, with one key difference among them. Indeed, the bloc welcomed 13 new countries with partnership status as its global standing continues to strengthen.

The decision was officially unveiled at this year’s annual summit. Moreover, it happened 12 months after the bloc officially expanded for the first time since 2001. Specifically, it welcomed four countries to join the BRICS bloc, with the United Arab Emirates (UAE), Egypt, Iran, and Ethiopia joining the group.

BRICS Partner Nations Unveiled as Alliance Announce Rule Change

The last two years have seen massive shifts take place in a geopolitical realm. Following Russia’s invasion of Ukraine, Western sanctions took a massive toll on the invading country. Thereafter, Moscow turned to its BRICS allies and the global south as de-dollarization became an immense priority.

The allure of those policies was clearly shown in nations jockeying to join that emerging group. Now, the bloc has expanded twice. Indeed, the official membership list has grown, as well as the development of its very own partnership nation-tier coming to fruition. Now, BRICS has announced partner nation rules with one very important difference.

According to Russian Deputy Foreign Minister Sergey Ryabkov, BRICS partners are able to submit ideas but are not permitted to vote on them. According to Ryabkov, partner status “presupposes participation in BRICS mechanisms,” yet he assured, that “they are not allowed to make decisions.”

This aspect of the partnership plan was not made public prior to the announcement of its creation this year. It will be interesting to hear how nations react to the terms. Moreover, its impact on future participation and interest will showcase how the economic alliance is viewed internationally.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

5 ESSENTIAL STRATEGIES EVERY WEALTH BUILDER NEEDS  |  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 Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps