4 Things You Don’t Know About Your Money

I’m a Financial Expert: 4 Things You Don’t Know About Your Money

Laura Beck   Fri, August 16, 2024   GOBankingRates

You might think you’ve got a handle on your finances, but there’s probably a thing or two you don’t understand.

GOBankingRates spoke with financial experts to uncover some surprising truths about money that many people overlook. Carlos Rodriguez, director of financial planning at Edelman Financial Engines, pointed to EFE’s 2023 Everyday Wealth in America report, which indicated that 46% of Americans cite personal finances as their top source of stress. That emphasizes the importance of effective financial management for overall well-being.

From investment strategies to the power of small savings, these insights could change the way you think about your hard-earned cash. Here are four things you (probably) don’t know about your money.

Earning passive income doesn't need to be difficult. You can start this week.

Being Too Conservative Can Cost You Big Time

If you’re the type to keep your money tucked safely away in a savings account, you might want to reconsider.

Robert R. Johnson, Ph.D., CFA, professor of finance at Creighton University’s Heider College of Business, has some eye-opening data to share.

“Being conservative with investments over time is extremely costly,” he said. “From 1926 through 2023, government bonds earned an average return of 5.1%. One dollar invested in government bonds at the beginning of 1926 would have grown to $133 by the end of 2023.”

Sounds pretty good, right? Well, hold onto your hats. Johnson continued, “Over that same time period, large stocks (think S&P 500) earned 10.1% compounded annually. That same dollar invested in an index of large cap stocks would have grown to $14,568 by the end of 2023.”

That’s not a typo, folks. We’re talking about a difference of over $14,000 from a single dollar. As Johnson put it, “A 5% annual difference in returns results in an astronomical difference in terminal wealth.”

You Can’t Save Your Way to Wealth – You Need To Invest

If you think squirreling away money in a savings account is your ticket to wealth, think again. Johnson busts this common myth wide open.

“One of the biggest money myths is that you can save your way to wealth,” he said. “The wealthy save and invest. The middle class, too often, simply save. Unfortunately, it isn’t enough that people simply save. That is a necessary condition for building wealth, but not a sufficient condition for wealth accumulation.”

To Read More:  https://www.yahoo.com/finance/news/m-financial-expert-4-things-170009313.html

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 8-17-24

Good Afternoon Dinar Recaps,

Bank of Ghana unveils draft rules for cryptocurrency exchanges

The Bank of Ghana introduces draft guidelines to regulate digital assets, focusing on exchanges and consumer protection measures.

The Bank of Ghana (BoG) has proposed fresh regulatory measures for digital assets following an extensive internal review of Bitcoin, Tether, USDT, and other cryptocurrencies.

On Aug. 16, the central bank of the West African nation issued draft guidelines on digital assets while seeking feedback on the upcoming crypto regulations from the public and industry stakeholders.

According to the BoG, data collected over three years shows a significant increase in Ghana’s appetite for crypto. As a result, it intends to implement laws targeting risks related to money laundering and terrorism financing, fraud and other measures for consumer protection.

The central bank proposed an eight-pillar framework for crypto regulations, mainly intensifying the registration and reporting requirements of cryptocurrency exchanges or virtual asset service providers (VASPs).

Ghana pays special attention to crypto exchanges

If signed into law, the proposed regulations will require crypto exchanges to monitor and report suspicious transactions and comply with the Financial Action Task Force’s Travel Rule. Additionally, the bank plans to collaborate with external stakeholders such as commercial banks and offshore regulators.

“The Bank would collaborate with the Securities and Exchange Commission (SEC) to develop distinct complementary regulatory frameworks that encompass various applications or use cases of digital assets.”

Curating crypto laws based on public feedback

Exchanges will also need to register with the BOG and undergo sandbox testing before being allowed to provide trading services in Ghana. The bank is currently seeking recommendations from industry players, experts and the public until Aug. 31.

“The bank will consider these inputs in determining the next steps forward,” the draft proposal said.

@ Newshounds News™

Source:  CoinTelegraph

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XRP Ledger Sets New $1 Trillion Trust Limit in Ripple USD (RLUSD)

▪️A significant event on the XRP Ledger involved setting a $1 trillion trust limit for Ripple USD (RLUSD), though no actual issuance of RLUSD has occurred yet.

▪️This action serves as a preparatory framework for future transactions, reflecting the XRP Ledger’s scalability and users’ confidence in the ecosystem.

Popular crypto analyst Amelie has brought the XRP community’s attention to a significant event taking place on the XRP Ledger. As tweeted by Amelie, the XRP Ledger has set a new trust limit of $1 trillion in Ripple USD (RLUSD).

Let’s first understand the concept of Trust lines and Trust limits on the XRP Ledger. A trust line helps the user build a trusted relationship with the currency issuer on the XRP Ledger. After setting up the trust line, users enable the recei[t of the issuer’s currency up to a certain predefined limit also known as the trust limit. This limit basically safeguards users from receiving more of the currency than they are willing to trust.

In the case of Ripple, a trust line was created for RLUSD, setting up the trust limit of $1 million. This figure represents the maximum amount of RLUSD the account holder is willing to trust. However, there’s no RLUSD transfer or creation in the process. Instead, this action simply establishes the framework for future transactions involving RLUSD on the ledger.

Last week, Ripple started beta-testing the RLUSD stablecoin facilitating cross-border transactions between the XRP Ledger and Ethereum, reported CNF.

XRP Ledger Implications and Community Reaction

The $1 trillion trust limit even in the absence of the actual asset shows high flexibility and scalability of the XRP Ledger. Also, the ability of users t also prompts questions about the role trust lines play in the issuance and circulation of digital assets on the XRP Ledger.

With Ripple expanding its range of products and services including the introduction of the RLUSD stablecoin, it becomes increasingly crucial to understand the technical workings of the XRP Ledger.

RLUSD will compete in the highly competitive stablecoin landscape currently dominated by Tether’s USDT and Circle’s USDC, reported CNF.

Interestingly, this announcement of the $1 trillion trust limit has also sparked some reactions from the community. Many users were actually curious to under the purpose behind this trust limit.

One community member Aron Madarasz confused it with some illicit activity stating: “It means that this is a fake. RLUSD isn’t issued yet. This is a trustline on the XRPL everybody can create, and everybody can name it as wanted. RLUSD will be issued by Ripple on the ledger but not as a trustline thing.”

Madarasz clarified that while a trust line for RLUSD has been established, Ripple has not yet issued the asset. As a result, the substantial trust limit set does not represent an asset currently in circulation. Rather, it serves as a preparatory measure within the XRPL, while enabling users to set up trust lines in anticipation of RLUSD’s future issuance.

@ Newshounds News™

Source:  Crypto News Flash

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IMF Proposes Drastic 85% Electricity Tax Increase For Crypto Mining

Two IMF officials pitched for steep electricity taxation on cryptocurrency miners and recommended increasing their average global electricity cost by 85%.

The proposal has, in fact, called for a sharp rise in the electricity tax paid by crypto miners to drastically bring down carbon emissions from the mining of such cryptocurrencies, which have been rising and pose an environmental threat.

IMF: Over $5 Billion In Taxes

The International Monetary Fund says that a levy of $0.047 per kilowatt hour would bring in about $5.2 billion annually and trim global emissions by about 100 million tons, equivalent to current emissions of Belgium.

However, the actual reduction of emissions from such a tax is arguable, as miners have the tendency to shift operations to countries where electricity is cheap.

Here, IMF executives Shafik Hebous and Nate Vernon-Lin have used an astonishing figure for the consumption of energy used in cryptocurrency transactions. According to them, a single transaction in Bitcoin uses as much electricity as the average person in Pakistan uses over three years.

Crypto mining data centers, added to this, and the aggregate energy use for artificial intelligence will grow to a level comparable in use to Japan’s electricity in three years.

Though the proposed tax might provide incentives for miners to become more energy-efficient, the IMF acknowledges that global coordination is needed to avoid having miners simply move their bases of operation into countries and jurisdictions with lower standards.

Environmental Impact Of Crypto Mining

Thus, environmental considerations argue for crypto mining regulation. The IMF’s decision shows a rising awareness of the need to intervene in a fast-expanding polluter. Finding solutions is necessary because crypto mining and AI data centers account for almost 1% of global carbon emissions and 2% of global electricity usage. This tax could encourage miners to invest in greener technologies, making the sector more sustainable.

Economic Considerations

While the yield in tax from this proposal is huge, it opens up a Pandora’s box on the economic viability of crypto mining operations. Small miners—who are already hard hit by the reduction in profits after Bitcoin’s halving in April—may not survive easily if electricity costs rise even further.

That would mean consolidation in the industry, and only the large and more efficient miners able to survive would do so. The analysis by the IMF estimates that the tax may further drive innovations in energy-efficient mining technologies, but its immediate impact on smaller players could be quite destructive.

@ Newshounds News™

Source:  Bitcoinist

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EU Merchants Accept Ripple Payments; Buy Gold & More With XRP

It feels like we just pulled a shiny rabbit out of the hat; various merchants in Europe accept Ripple’s XRP as a payment method for gold and silver! Yes, you read that right—your favorite altcoin can now buy you some solid gold bars.

It’s not just gold and silver; they’ve thrown in platinum, palladium, and rhodium for good measure. Plus, they’ve got live pricing in XRP, so you can watch those rates in real time, like a hawk eyeing its prey.

Ripple’s XRP: Shaking Up the Financial Scene Like a Snow Globe

Suisse Gold, Swiss Bullion, W. Hamond, have jumped on the XRP bandwagon and it isn’t just a fluke; it’s a sign of the times. Ripple’s cryptocurrency, XRP, has been strutting its stuff lately, making waves that are hard to ignore.

Take this: (OPINION) previously, reports circulated that Russian President Vladimir Putin, of all people, confirmed that BRICS—think of them as the cool kids of emerging economies—are cooking up their own independent payment system. And guess what? XRP might just be the secret sauce for cross-border payments in this new setup. If that doesn’t get your financial radar pinging, I don’t know what will.

@ Newshounds News™

Source:  CryptoNewsz

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US Financial Services Committee leaders want ‘regulatory sandboxes’ for AI

In a letter signed only by republicans, the committee responded to a request for information sent by the Department of the Treasury.

US Financial Services Committee leaders want ‘regulatory sandboxes’ for AI News

Members of the United States House Financial Services Committee (FSC) responded to a request for feedback from the US Treasury concerning the regulation of artificial intelligence in an Aug. 16 letter addressed to Treasury Secretary Janet Yellen.

The letter, signed by the committee’s Republican leadership, calls for what amounts to a light-touch approach to regulation. “A one-size-fits-all approach will only stifle competition among financial institutions,” wrote the signatories, adding that “regulators must evaluate each institution’s use of AI technology on a case-by-case basis”

AI sandbox

The committee appeared bullish on the use of generative AI — which includes services and products such as OpenAI’s ChatGPT and Anthropic’s Claude — in the financial services sector. It highlighted the potential for these technologies to provide greater access to financial services, increasing both adoption and inclusion.

It also strongly recommended an organic approach to creating new regulations and laws. Describing a “regulatory sandbox” for AI, the FSC appears to be advocating maintaining a general focus on sustaining the status quo by applying existing rules to challenges as they arise.

@ Newshounds News™

Read more:  CoinTelegraph

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Awake-In-3D: When Will the RV/GCR Happen?

When Will the RV/GCR Happen?

On August 17, 2024 By  Awake-In-3D

Endgame GCR Podcast Episode 4

What you will learn in this episode:

• What is Japan’s Economic Influence on Current Financial System?

• What are the Signs of the Fiat Currency System’s Collapse?

* Why Inflation is a Key Driver of Fiat Financial System Weakness

• How Carry Trades Create Global Financial System Instability

• The Problem With Central Bank Interest Rate Manipulation

• Why Demand for Commodities and Precious Metals is Related to the RV/GCR

• What Will Happen if the United States Begins Buying Gold?

• Why the New BRICS Gold-Backed Financial System is Important

• The Revaluation of Currencies Amid a Fiat Financial System Collapse

• Rejecting the “Shotgun” GCR/RV Event Narrative

• What are the Key Indicators to Watch in the Coming Financial Collapse?

In this episode, the focus is on answering the central question: “When will the Global Currency Reset (GCR) and the Revaluation of Currencies (RV) happen?” It becomes clear that the RV/GCR will align with the collapse of the global fiat currency system. This sets the stage for the discussion, which explores current financial events that are leading towards this shift.

What is Japan’s Economic Influence on Current Financial System?

We look at Japan’s recent economic instability and how it affects the global financial landscape. Japan’s interest rate hikes and market volatility are early signs of a broader shift. Given Japan’s role as the fourth-largest economy and its status as a key reserve currency, its actions have a significant impact on the future of the global financial system.

What are the Signs of the Fiat Currency System’s Collapse?

Key indicators of the impending collapse of the fiat currency system are examined. The idea that the collapse will unfold “slowly at first, then all of a sudden” is discussed. The gradual breakdown of the fiat system is directly linked to the eventual realization of the GCR and RV, making it essential to track these developments.

Why Inflation is a Key Driver of Fiat Financial System Weakness

Inflation is identified as one of the main factors weakening the fiat currency system. It is described as a hidden tax that reduces the purchasing power of currencies around the world. This episode points out that inflation is unique to fiat systems and accelerates their collapse, driving up the cost of goods and services.

How Carry Trades Create Global Financial System Instability

There’s a detailed exploration of the carry trade, particularly between Japan and the US. The way investors profit from borrowing in low-interest countries and investing in higher-interest markets is explained. The unwinding of the carry trade is recognized as a key indicator of financial instability and is a sign of bigger disruptions to come.

The Problem With Central Bank Interest Rate Manipulation

We take a closer look at how central banks around the world manipulate interest rates in an attempt to manage inflation. These adjustments are contributing to a global recession and could even lead to a depression. The manipulation of interest rates plays a significant role in weakening the fiat system and preparing for its collapse.

Why Demand for Commodities and Precious Metals is Related to the RV/GCR

The episode also addresses the growing global demand for commodities, especially gold, silver, and other industrial metals. More individuals and central banks are diversifying into precious metals to safeguard against future instability. The increasing purchases of gold by central banks are a clear signal that they are preparing for the collapse of fiat currencies and the transition to a gold-backed system.

There’s further discussion on how central banks are using gold as a hedge against the coming collapse of the fiat system. Despite what is said publicly, their ongoing accumulation of gold shows that they are preparing for a post-fiat world where gold-backed systems will dominate.

What Will Happen if the United States Begins Buying Gold?

The episode emphasizes the unique position of the US dollar as the world’s reserve currency, being used in over 80% of global transactions. Speculation arises over what would happen if the US started buying gold, which would signal a loss of confidence in the dollar and likely cause panic in global markets.

Why the New BRICS Gold-Backed Financial System is Important

The discussion also explores the efforts of BRICS nations to create an alternative gold-backed financial system. This system could challenge the dominance of the US dollar and potentially force the Federal Reserve to adopt a similar gold-backed approach. Such a shift would create significant changes in the global financial landscape.

The Revaluation of Currencies Amid a Fiat Financial System Collapse

As the fiat currency system collapses, opportunities for currency revaluation (RV) are expected to emerge. This transition will likely happen gradually, with the RV being part of a larger shift towards a gold-backed system.

Rejecting the “Shotgun” GCR/RV Event Narrative

There’s a clear rejection of the idea of a sudden, global “shotgun” GCR/RV event. Instead, the transition is expected to be gradual, with notifications and preparations required from governments and central banks. An overnight switch is deemed unrealistic, and a step-by-step process is considered far more likely.

What are the Key Indicators to Watch in the Coming Financial Collapse?

The episode concludes by recapping the five key indicators that signal the collapse of the fiat system and the opportunity for currency revaluation: inflation, interest rates, carry trade unwinding, central bank gold purchases, and the US dollar’s position as the world reserve currency. These factors provide a roadmap for understanding and tracking the impending shifts in the financial system.

Approximate Time Markers For Each Topic

0:00 – Introduction to the GCR and RV Timeline
2:00 – Japan’s Economic Influence on Global Finance
6:00 – Signs of the Fiat Currency System’s Collapse
9:00 – Inflation as a Key Driver of Fiat System Weakness
13:00 – The Carry Trade and Its Role in Global Financial Instability
19:00 – Central Bank Interest Rate Manipulation
23:00 – Increasing Demand for Commodities and Precious Metals
27:00 – Gold Purchases as a Hedge Against the Fiat Collapse
30:00 – The US Dollar as the World’s Reserve Currency
33:00 – The BRICS Gold-Backed Financial System
36:00 – The Revaluation of Currencies Amid the Fiat System Collapse
39:00 – Rejecting the “Shotgun” GCR/RV Event
43:00 – Key Indicators to Watch for the Coming Collapse

Podcast Links:

Endgame GCR Episode 4 on Rumble

Endgame GCR Episode 4 on YouTube

© GCR Real-Time News

Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog
Join my Telegram Channel to comment and ask questions here: GCR_RealTimeNews
Follow me on Twitter: @Real_AwakeIn3D

https://ai3d.blog/when-will-the-rv-gcr-happen/

https://www.youtube.com/watch?v=Eqfa12rI6LU&feature=youtu.be

More News, Rumors and Opinions Saturday PM 8-17-2024

KTFA:

Clare:  Iraq "Moves to Profit-Sharing" in New Oil Contracts

17th August 2024 

By Charles Kennedy for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.

Iraq Moves to Profit-Sharing Terms in New Oil and Gas Contracts

Iraq seeks to attract more investment in its oil and gas industry by moving to profit-sharing contracts for new bid rounds from the technical service contracts it has awarded so far.

Click here to read the full report.

LINK

Clare:  Finance: The Accounting Department begins working with the electronic issuance verification system (QR)

8/17/2024   Baghdad - WAA

The Ministry of Finance announced, today, Saturday, that the Accounting Department has started working with the electronic QR system regarding withdrawing amounts.

The ministry said in a statement received by the Iraqi News Agency (INA): "The Accounting Department has started working with the electronic check-in system using (QR code) regarding withdrawing amounts," noting that "the financing platform is currently limited to answering inquiries from spending units for the financing process in ministries, governorates and entities not affiliated with a ministry."

It added that "this comes within the framework of the government's orientation to simplify government procedures, reduce time and effort, in addition to reducing administrative momentum in institutions, and moving away from paper transactions."   LINK

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

Militia Man  Article: "Baghdad investigates the region's salaries and sends a monitoring committee to audit the 'spacemen' "  The corrupt are going to get exposed. Paying double and or to fake people is not going to fly with the new systems in place. Skimming off the top is going to have to stop.  I would suspect it will quickly too...

Frank26  Question: "As far as the training videos, are there any more subjects remaining with the RI and monetary reform that the Iraqi have not seen?"   Yes.  Right now they're teaching them about the float.  They hadn't seen that up until two days ago.

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Shocking! 159 Countries Adopting BRICS New Payment System! What's Next?

We Love Africa:  8-17-2024

Do you know what shocks will be given to the West at the Brics Summit 2024?

As of now, the world seems to be busy with broader political issues. However, Brics has been working secretly and as of now, it not only has put a new payment system in place but is attracting hundreds of countries

. It’s just unbelievable that 159 out of the 195 countries of the world have already committed to adopting this new Brics payment system.

What does that mean for the West-dominated SWIFT payment system?

What are these countries that are joining hands with Brics against the West’s bullying payment system?

https://www.youtube.com/watch?v=fR-zQ4mxoJQ

Bigger Banking Crisis Than '08 When Amid Dollar Crisis | Matthew Piepenburg

Liberty and Finance:  8-17-2024

Matthew Piepenburg  discusses the recent Yen crisis which led to a world-wide market panic.

He notes that when the Dollar enters a similar crisis, the U.S. could face a banking crisis worse than 2008.

Owning gold has a record of preserving purchasing power through inflationary times, he notes.

INTERVIEW TIMELINE:

0:00 Intro

1:34 Yen crisis

13:30 Currency destruction

24:50 1929 parallel

35:10 Owning gold

https://www.youtube.com/watch?v=-UGp8xRY3n8

Iraq Economic News and Points To Ponder Saturday Afternoon 8-17-24

Profit Sharing"... Iraq Is Making The Biggest Change In The Way It Deals With Oil Companies In Decades
 
Economy     2024-08-15 | 4,627 views   Alsumaria News – Economy  Iraq has made the biggest change in the way it deals with international oil companies in decades, by relying on profit sharing in contracts for developing oil and gas production projects and developing reserves.
 
According to the Specialized Energy Platform (based in Washington), the 13 new contracts signed by the Ministry of Oil yesterday, Wednesday, August 14 (2024), relied on a profit-sharing model instead of technical service conditions.

Iraq has made the biggest change in decades in the way it deals with international oil companies in an attempt to attract more money to the oil and gas sector in order to develop its huge reserves.

Baghdad signed preliminary agreements for 13 blocks and oil and gas exploration fields, which a number of companies won in a May licensing round, giving the companies profit-sharing contracts that include more attractive terms than those for technical services.
 
Details of new contracts
 
Profit-sharing models provide a share of revenue after deducting royalties and cost recovery expenses, an oil ministry official told Reuters.
 
Iraq adopted profit-sharing contracts for the May licensing round instead of formulating deals based on prior technical service terms to try to attract more investments.
 
The recent oil licensing rounds aimed to grant licenses to about 29 projects in 12 Iraqi governorates, to international and local companies, as 22 companies competed to develop the proposed fields and blocks.
 
Traditional technical services contracts pay a fixed price for each barrel of oil produced after offsetting costs, and are less lucrative for foreign investors than production sharing terms.
 
Last year, Iraq struck a $27 billion oil deal with France's Total Energy by offering a faster, lower-risk recovery through greater revenue sharing, a model it said at the time could be replicated to attract more foreign companies.
 
Oil investments in Iraq
 
Many major oil companies have complained that the terms of traditional oil service contracts mean they cannot benefit from higher oil prices, and lose out when production costs rise.
 
Iraq is the second largest producer in the Organization of the Petroleum Exporting Countries (OPEC) after Saudi Arabia, and currently has the capacity to produce approximately 5 million barrels per day.
 
Foreign investment in the oil sector in Iraq has declined since the wave of deals that followed the US invasion of the country more than a decade ago, which contributed to the stagnation of oil production.
 
Last year's Total deal was widely praised as a major achievement in attracting major Western companies to Baghdad.

Chinese companies dominated the bidding round last May, which offered 29 oil and gas projects, winning 10 of the oil and gas blocks and fields put up for auction.
 
The competition activities for the licensing rounds in Iraq (the fifth supplementary and the sixth) continued for 3 days during last May, as 7 Chinese companies acquired the license to develop a number of Iraqi oil projects, while no licenses were granted to any of the other foreign or Arab companies applying, other than... Local companies.
 
The Iraqi Ministry of Oil said that the agreements would increase production by 750,000 barrels of crude and 850 million standard cubic feet of gas.
 
Through the licensing round, Iraq seeks to increase the production of natural gas, which it wants to use to operate power plants that rely heavily on gas imported from Iran.
 
Oil Minister Hayan Abdul Ghani said that increasing gas production may allow more flexibility to supply gas to electric power stations.  https://www.alsumaria.tv/news/economy/497157/تقاسم-الأرباح-العراق-يجري-أكبر-تغيير-بطريقة-تعامله-مع-شركات-النفط-منذ   

Minister Of Oil: We Stopped Burning 65% Of The Gas

August 15, 22:15   Information / Baghdad...  Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani confirmed today, Thursday, the contracting of all gas fields and the cessation of burning 65% of its quantities, while pointing out that

 Iraqi gas is distinguished globally by containing ethane used in petrochemical industries.

 Abdul Ghani told the official agency and his follower, “Al-Ma’louma”, that

 “there are no difficulties or technical problems in the process of developing exploratory fields and patches within the fifth complementary and sixth licensing rounds, as all the information needed by the companies that were signed with is available in an information bag that includes many standards and information.

” Through which companies can submit their prices, in addition to that there are deadlines set for companies to submit these offers, as the process took more than six months to study this information.”  He added,

 "During this period, the Ministry of Oil was answering all inquiries submitted by these companies, with the aim of facilitating the process of submitting offers and preparing them at the required level."  He pointed out,

 "The expected production rates for the patches are estimated at 700 to 750 thousand barrels per day, in addition to investing 850 mqmq per day of gas, but

it is hoped that the real levels will be higher than the speculative levels," noting,

 "There are fields that are now producing large quantities." From the gas that is used to the national grid that equips the various power stations, the percentage of gas investment has reached more than 65 percent, while the quantities that are currently burned and have not been invested so far do not exceed 35 percent of the total gas quantities.”  He continued,

 "All gas fields have been contracted to invest and employ them through various contracts," pointing out,

 "There are contracts in Dhi Qar Governorate that have been signed and are now being implemented in contract with (the American Baker Hughes Company), where the completion rate has reached more than 65 percent." %, and there are contracts signed with the French company Total to invest gas from five oil fields, which are (Majnoon field, West Qurna 2 field, Luhais field, Tuba field, and Artawi field), and through these contracts, all the gas that is currently being burned will be invested.”  He stressed,

  “The Ministry of Oil plans to completely stop burning gas at the beginning of 2028, and use all the gas produced to generate electric power and other industries,” adding that

 “Iraqi gas is distinguished internationally by a specification that differs from other types of gas, as it contains a high percentage of the ethane compound.” Which can be employed and used in the petrochemical industries.” Ended 25 n  

 https://almaalomah.me/news/73464/economy/وزير-النفط:-أوقفنا-حرق-65-من-الغاز    

Financial Advisor To The Prime Minister: Iraq's Total External Debt Does Not Exceed $9 Billion

Baghdad Times    Financial Advisor to the Prime Minister, Mazhar Muhammad Salih:

 Iraq’s total external debt does not exceed $9 billion, and

 the general budget provides annual allocations to tighten it and its benefits under the heading of debt amortization.

 Saleh: Iraq has not recorded any default on its debts for 20 years, which gave it a stable credit rating.   

 https://baghdad-times.net/مستشار-رئيس-الوزراء-المالي-مجموع-الدي/    

Internal debt increased by 11%... Iraq borrows 10 trillion dinars
 
August 13, 2024
Baghdad / Iraq Observer
 
The head of the “Future Iraq” Foundation for Economic Studies and Consultations, Manar Al-Obaidi, revealed that the Iraqi government borrowed 10 trillion dinars during the past 6 months, which led to an increase in internal debt by 11%.
 
Al-Obaidi said in a blog post on Facebook followed by Iraq Observer,
 
“In just 6 months, the government borrowed 10 trillion dinars, and the following came:
 
     3 trillion dinars from government banks,
     4 trillion dinars from commercial banks, and
     3 trillion dinars from selling bonds,”
 
pointing out that this Borrowing increased the internal debt by 11% within six months.”  He added,
 
“The total borrowing from these parties amounted to 21 trillion dinars, representing
 
     17% of the volume of commercial and government bank deposits and representing
     10% of the banks’ assets, in addition to the obligations of the Ministry of Finance to the Central Bank, amounting to 41 trillion dinars, representing
     21% of the assets of the Central Bank.”
 
“In other words, approximately 15% of the financial sector’s funds exist as debts with the central government.”
 
It would have been better to invest this money in an investment fund that would provide revenues for the state that would increase the volume of non-oil revenues and would be a guarantee for the future of generations, according to Al-Obaidi.   https://observeriraq.net/الدين-الداخلي-ازداد-11-العراق-يقترض-10-ترل/   

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

“Tidbits From TNT” Saturday 8-17-2024

TNT:

Tishwash:  Romanowski confirms that her country is looking forward to deepening its security relations with the Kurdistan Government

U.S. Ambassador to Iraq Elena Romanowski welcomed the new U.S. Consul in the Kurdistan Region, Steve Bitner.

In a post on platform X, Romanowski stressed that her country is looking forward to deepening its strong security relations with the Kurdistan Regional Government.

She pointed to the desire of the United States "to expand educational ties between it and the Kurdistan Region, and to monitor free and fair elections on October 20 October."

Earlier, the U.S. Ambassador expressed her sincere thanks to former Consul Mark Straw for his services at the Consulate General in Erbil.

Over the past year, your leadership has helped strengthen economic, security, and cultural ties between the United States and the Kurdistan Region. link

Tishwash:  Attracting investors and limiting currency smuggling.. Specialist explains the importance of "digitizing" Iraqi banks

Financial and economic expert Nawar Al-Saadi revealed, today, Friday (August 16, 2024), the importance of the benefits of "digitizing" financial transactions for Iraqi banks, while pointing out that digitization can enhance financial inclusion by attracting users who do not deal with traditional banks by providing easy-to-access and easy-to-use services.

Al-Saadi told Baghdad Today that “digitizing financial transactions in Iraqi banks can provide significant benefits, especially in terms of reducing currency smuggling,” indicating that “by adopting digital systems, banks can track all financial transfers with greater accuracy and transparency. This means that each transaction is automatically recorded and saved in a central database that can be reviewed at any time. This allows the relevant authorities to monitor and quickly detect suspicious financial activities, making it difficult for smugglers to exploit the financial system to smuggle currencies.”

“Digitizing the banking system contributes to reducing money laundering cases, as these operations usually depend on exploiting loopholes in traditional systems, but with an advanced digital system, these operations become more complex. Digitization also allows the use of advanced technologies such as artificial intelligence to analyze patterns in banking data and identify any abnormal or suspicious transactions,” he added, stressing that “this helps prevent money laundering by early identification of unusual activities and reporting them to the competent authorities.”

Al-Saadi explained that “to implement this digital transformation in Iraq, there is a need for investments in technological infrastructure and developing the institutional capabilities of banks,” noting that “this requires providing modern technology, training employees to use it effectively, in addition to developing legislation and laws that protect users and encourage digital transactions. It is also important to enhance customer awareness of the benefits of digital transactions and build their confidence in the new systems.”

He stressed that “digitization in banks contributes to achieving more transparency and credibility in the financial system, as each transaction can be easily tracked and reviewed. It also improves the operational efficiency of banks by completing transactions faster and at a lower cost. In terms of security, digitization provides higher levels of protection against fraud and theft through advanced encryption technologies.”

The financial and economic expert concluded by saying, “Digitization can enhance financial inclusion by attracting users who do not deal with traditional banks by providing easy-to-access and easy-to-use services. Digitizing financial transactions in Iraqi banks also has great potential to enhance economic stability and reduce the risks associated with money laundering and currency smuggling, leading to a safer and more efficient financial system.”  link

Mot:  This is probably the best answer l've ever heard to the question, "Why did God create evil?"

READ THIS...

Why did God create evil? The answer struck me to the core of my soul!

A professor at the university asked his students the following question:

- Everything that exists was created by God?

One student bravely answered:

- Yes, created by God.

- Did God create everything? - a professor asked.

"Yes, sir," replied the student.

The professor asked :

- If God created everything, then God created evil, since it exists. And according to the principle that our deeds define ourselves, then God is evil.

The student became silent after hearing such an answer. The professor was very pleased with himself. He boasted to students for proving once again that faith in God is a myth.

Another student raised his hand and said:

- Can I ask you a question, professor?

"Of course," replied the professor.

A student got up and asked:

- Professor, is cold a thing?

- What kind of question? Of course it exists. Have you ever been cold?

Students laughed at the young man's question. The young man answered:

- Actually, sir, cold doesn't exist.

According to the laws of physics, what we consider cold is actually the absence of heat. A person or object can be studied on whether it has or transmits energy.

Absolute zero (-460 degrees

Fahrenheit) is a complete absence of heat. All matter becomes inert and unable to react at this temperature.

Cold does not exist. We created this word to describe what we feel in the absence of heat.

A student continued:

- Professor, does darkness exist?

— Of course it exists.

- You're wrong again, sir. Darkness also does not exist. Darkness is actually the absence of light. We can study the light but not the darkness.

We can use Newton's prism to spread white light across multiple colors and explore the different wavelengths of each color. You can't measure darkness. A simple ray of light can break into the world of darkness and and illuminate it. How can you tell how dark a certain space is? You measure how much light is presented. Isn't it so? Darkness is a term man uses to describe what happens in the absence of light.

In the end, the young man asked the professor:

- Sir. does evil exist?

This time it was uncertain, the professor answered:

- Of course, as I said before. We see him every day. Cruelty, numerous crimes and violence throughout the world. These examples are nothing but a manifestation of evil.

To this, the student answered:

- Evil does not exist, sir, or at least it does not exist for itself. Evil is simply the absence of God. It is like darkness and cold—a man-made word to describe the absence of God. God did not create evil. Evil is not faith or love, which exist as light and warmth. Evil is the result of the absence of Divine love in the human heart. It's the kind of cold that comes when there is no heat, or the kind of darkness that comes when there's no light.

The student's name was Albert Einstein.

Seeds of Wisdom RV and Economic Updates Saturday Morning 8-17-24

Good Morning Dinar Recaps,

XRP Ledger Sets New $1 Trillion Trust Limit in Ripple USD (RLUSD)

▪️A significant event on the XRP Ledger involved setting a $1 trillion trust limit for Ripple USD (RLUSD), though no actual issuance of RLUSD has occurred yet.

▪️This action serves as a preparatory framework for future transactions, reflecting the XRP Ledger’s scalability and users’ confidence in the ecosystem.

Popular crypto analyst Amelie has brought the XRP community’s attention to a significant event taking place on the XRP Ledger. As tweeted by Amelie, the XRP Ledger has set a new trust limit of $1 trillion in Ripple USD (RLUSD).

Let’s first understand the concept of Trust lines and Trust limits on the XRP Ledger. A trust line helps the user build a trusted relationship with the currency issuer on the XRP Ledger.

After setting up the trust line, users enable the recei[t of the issuer’s currency up to a certain predefined limit also known as the trust limit. This limit basically safeguards users from receiving more of the currency than they are willing to trust.

In the case of Ripple, a trust line was created for RLUSD, setting up the trust limit of $1 million. This figure represents the maximum amount of RLUSD the account holder is willing to trust.

However, there’s no RLUSD transfer or creation in the process. Instead, this action simply establishes the framework for future transactions involving RLUSD on the ledger.

Last week, Ripple started beta-testing the RLUSD stablecoin facilitating cross-border transactions between the XRP Ledger and Ethereum, reported CNF.

XRP Ledger Implications and Community Reaction

The $1 trillion trust limit even in the absence of the actual asset shows high flexibility and scalability of the XRP Ledger. Also, the ability of users t also prompts questions about the role trust lines play in the issuance and circulation of digital assets on the XRP Ledger.

With Ripple expanding its range of products and services including the introduction of the RLUSD stablecoin, it becomes increasingly crucial to understand the technical workings of the XRP Ledger.

RLUSD will compete in the highly competitive stablecoin landscape currently dominated by Tether’s USDT and Circle’s USDC, reported CNF.

Interestingly, this announcement of the $1 trillion trust limit has also sparked some reactions from the community. Many users were actually curious to under the purpose behind this trust limit. One community member Aron Madarasz confused it with some illicit activity stating: 

“It means that this is a fake. RLUSD isn’t issued yet. This is a trustline on the XRPL everybody can create, and everybody can name it as wanted. RLUSD will be issued by Ripple on the ledger but not as a trustline thing.”

Madarasz clarified that while a trust line for RLUSD has been established, Ripple has not yet issued the asset. As a result, the substantial trust limit set does not represent an asset currently in circulation.

Rather, it serves as a preparatory measure within the XRPL, while enabling users to set up trust lines in anticipation of RLUSD’s future issuance.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

Dubai court recognizes crypto as a valid salary payment

UAE lawyer Irina Heaver said the ruling shows the growing acceptance of crypto in employment contracts, recognizing the evolving nature of Web3 financial transactions.

In a significant update to the United Arab Emirates’ judiciary approach to crypto, the Dubai Court of First Instance recognizes salary payments in crypto as valid under employment contracts.

Irina Heaver, a partner at UAE law firm NeosLegal, explained that the ruling in case number 1739 of 2024 shows a shift from the court’s earlier stance in 2023, where a similar claim was denied because the crypto involved lacked precise valuation.

Heaver believes this shows a “progressive approach” to integrating digital currencies into the country’s legal and economic framework.

Dubai court recognizes inclusion of tokens in salary
Heaver said that the case involved an employee who filed a lawsuit claiming that the employer had not paid their wages, wrongful termination compensation and other benefits.

The worker’s employment contract stipulated a monthly salary in fiat and 5,250 in EcoWatt tokens. The dispute stems from the employer’s inability to pay the tokens portion of the employee’s salary in six months.

In 2023, the court acknowledged the inclusion of the EcoWatts tokens in the contract. Still, it did not enforce the payment in crypto, as the employee failed to provide a clear method for valuing the currency in fiat terms.

“This decision reflected a traditional viewpoint, emphasizing the need for concrete evidence when dealing with unconventional payment forms,” Heaver said.

However, the lawyer said that in 2024, the court “took a step forward,” ruling in favor of the employee and ordering the payment of the crypto salary as per the employment contract without converting it into fiat. Heaver said:

“This decision reflects a broader acceptance of cryptocurrency in employment contracts and highlights the court’s recognition of the evolving nature of financial transactions within the Web3 economy.”

Heaver added that the court’s reliance on the UAE Civil Transactions Law and Federal Decree-Law No. 33 of 2021 in both judgments shows the consistent application of legal principles in wage determination. 🍳

Far-reaching implications for UAE crypto adoption

According to Heaver, the decision also sets a positive precedent that encourages the further integration of digital currencies in everyday financial transactions. The lawyer believes that this fosters a more inclusive and innovative business environment. Heaver said:

“This ruling affirms that if an employment contract includes such terms, both the company and the employee must honor them. It is reassuring to see the court recognize that wages, whether paid in fiat or cryptocurrency, are the rightful entitlement of the employee for their agreed-upon work.”

Heaver added that it’s a win for employees and a significant step forward in the UAE’s journey toward becoming a digital economy leader.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

Bank of Ghana unveils draft rules for cryptocurrency exchanges

The Bank of Ghana introduces draft guidelines to regulate digital assets, focusing on exchanges and consumer protection measures.

The Bank of Ghana (BoG) has proposed fresh regulatory measures for digital assets following an extensive internal review of Bitcoin, Tether, USDT, and other cryptocurrencies.

On Aug. 16, the central bank of the West African nation issued draft guidelines on digital assets while seeking feedback on the upcoming crypto regulations from the public and industry stakeholders.

According to the BoG, data collected over three years shows a significant increase in Ghana’s appetite for crypto. As a result, it intends to implement laws targeting risks related to money laundering and terrorism financing, fraud and other measures for consumer protection.

The central bank proposed an eight-pillar framework for crypto regulations, mainly intensifying the registration and reporting requirements of cryptocurrency exchanges or virtual asset service providers (VASPs).

Ghana pays special attention to crypto exchanges

If signed into law, the proposed regulations will require crypto exchanges to monitor and report suspicious transactions and comply with the Financial Action Task Force’s Travel Rule. Additionally, the bank plans to collaborate with external stakeholders such as commercial banks and offshore regulators.

“The Bank would collaborate with the Securities and Exchange Commission (SEC) to develop distinct complementary regulatory frameworks that encompass various applications or use cases of digital assets.”

Curating crypto laws based on public feedback
Exchanges will also need to register with the BOG and undergo sandbox testing before being allowed to provide trading services in Ghana. The bank is currently seeking recommendations from industry players, experts and the public until Aug. 31.

“The bank will consider these inputs in determining the next steps forward,” the draft proposal said.

@ Newshounds News™

Read more:  CoinTelegraph

~~~~~~~~~

NEWS BRIEFS from the NEWSHOUNDS

▪️Trump Organization to launch crypto real estate initiative says Eric Trump | Crypto Briefing

▪️Xaman Wallet Partners with Mastercard’s Immersve to Roll out Self-Custody Web3 Cards  |  The Crypto Basics

▪️Cantor Fitzgerald CEO to co-lead Trump transition team |  Coin Telegraph

~~~~~~~~~

Newshound's Daily Breakdown Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

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Thank you Dinar Recaps

Economist’s “News ad Views” Saturday 8-17-2024

Rafi Farber: 1970s Are Repeating, and That Is Good News for Gold

Arcadia Economics:  8-16-2024

Despite the rise to $2,500 an ounce, gold is still below where it was in 1971 in terms of percentage of assets on the Federal Reserve's balance sheet.

Back on August 15, 1971 - exactly 53 years ago yesterday - gold made up 12% of Fed assets.

Today, even at $2,500, it makes up less than 9%.

By those metrics, we are lower now at $2,500 than we were at $35 in 1971. From that point, gold rose by a factor of 24x to the 1980 top.

A repeat of that move brings us to a top of about $60,000 per ounce. That rally also ended with a 15:1 gold to silver ratio. That brings us to $4,000 per silver ounce in a full blown monetary panic.

This is not a prediction. It's just simple math, and if we do have a repeat of the 1970s, that it where the math leads. To learn more, click the button to watch the video now!

https://www.youtube.com/watch?v=IPvNlTzKL0Y

The 'Biggest Black Swan' That 'Scares' Rick Rule

David Lin:   8-17-2024

Rick Rule, Rick Rule, Founder of Rule Media, and co-founder of Battle Bank, answers viewer questions, including whether or not the economy is heading into a "global depression", outlook for commodities, and how he picks mining stocks.

0:00 - Intro

1:00 - Are we in a recession?

3:30 - Copper

6:35 - Rising debt

12:20 - Building prosperity

15:00 - Inflation

17:50 - Market sentiment

21:26 - Liquidity concerns

24:33 - Mining stocks

30:15 – Mining M&A

 34:00 - Commodities and AI

38:00 - Copper deficits

40:30 - Rick's stock picking strategy

https://www.youtube.com/watch?v=I2EA1SFNyHc

Dollar Liquidity Flooding Ahead, Sovereign Debt Crisis Looms - How to Monetize Chaos: Jack Mallers

Kitco News:  8-17-2024

Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews Jack Mallers, CEO and Founder of Strike, who warns that markets will be flooded with dollar liquidity “in a major way” before the year-end.

Mallers discusses the state of the U.S. economy, the Federal Reserve’s next moves, and implications for the equity markets and Bitcoin.

 He explains how the U.S. government deals with its debt trap, stating that the only way out is by debasing the U.S. dollar, printing more money, and creating massive asset bubbles.

 Mallers weighs in on how to “monetize” this chaos. He shares his thoughts on Bitcoin as a reserve asset, giving his latest Bitcoin price outlook for the short and longer term.

Mallers also explores the potential for Bitcoin as both a store of value and a medium of exchange, along with its role in the global financial system.

https://www.youtube.com/watch?v=IV2dVE6S2yM

Weekend News with MarkZ 8-17-2024

Weekend News with MarkZ

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: Good Morning and Welcome to the Weekend

Member: Really hope Mark has good news for us today

MZ: It’s been eerily quiet overnight…..and they have not called in the redemption folks….yet. These are people in Reno who are specifically going to help some of the bigger groups through the exchange process. Or the ones at redeeming banks in the eastern US…None of them have been called in yet.

Member: I like quiet!! I totally expect it to happen when it is quiet!! So that could be at any time that's for sure!!!

Member: Many pundits are saying the 20th and 21st could be our big day.

Member: Tuesday is when many are saying it will finally go through

MZ: yes – a lot of the pundits say this….and I am getting the same from top bond contacts , group leaders –you name it. It certainly makes me feel a little excited….but going to stay grounded.

Member: Chief Fast Horse was on yesterday and indicates RV will go on 18th or 19th

MZ: There are still great expectations from everyone....and I know some people who are heading to their locations on Monday for preparations….So I am hoping Tuesday actually means something. Bond contacts are excited and are hoping this is it.

​​Member: Hopefully things start ramping up and we get across the finish line within this month.

Member: Mark, saw a clip this morning about the US Treasury occupying the 3rd floor of the new pretty bank in Iraq???

MZ: I know they have offices in the new pretty CBI building….not sure what floor.

Member: Really hoping your contacts are right Mark…and the rates will be higher than we thought they would be

Member: You guys no one knows what any of the rates are going to be until we get there. Any numbers given are just rumors and guesses!!

Member: Yesterday while driving around I am RV here an RV there and I thought is that a Good sign? I hope so.

Member: Praying for safe travels for you and that your stem cell procedure goes well and does a miraculous job for you.

Member: Have a safe trip Mark and feel better soon.

MZ: Zester will be filling in for me on Mon, Tues and Wed…..I will pop in when I can

Mod:  BREAKING NEWS: MarkZ's WEEKEND email address: Don't Write Me@NeverWHENTRAVELING.Com

Member: Enjoy your weekend everyone…and keep those thoughts positive we are at the end

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.

THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL IN THE MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

Youtube:     https://www.youtube.com/watch?v=9joqisUgo3o

Iraq Economic News and Points To Ponder Saturday AM 8-17-24

Warnings Of The Collapse Of The National Currency: Leave The Rotation Of Positions
 
August 15, 2024 Baghdad/Iraq Observer   Professor of political thought, Talib Muhammad Karim, warned today, Thursday, of the collapse of the national currency due to the spread of corruption and suspicions in the Central Bank of Iraq, while
 
criticizing the phenomenon of “rotation of positions.”
 
Talib said in an interview with “Iraq Observer,” that
 
“careful specialization to match the state’s economy with the actual need achieves economic growth and stability for local markets and maintains the individual’s income in proportion to his daily living.” 

He added,  "Corruption and suspicions are not far from the Central Bank of Iraq, which has caused great damage to the reserves and level of the national currency." 

The professor of political thought stated,   “The central bank has loose addresses and failed steps, which paralyzed the movement of the market and the private sector, which led to a major depression that may increase the phenomenon of poverty, layoffs of the workforce, and increase the area of ​​unemployment.”  https://observeriraq.net/تحذيرات-من-انهيار-العملة-الوطنية-اترك/   

A Deputy Reveals The Results Of The War On “Hard Currency” Smuggling

July 15, 20:17  Information / Baghdad...  On Thursday, Representative Yasser Iskandar revealed the results of the war on the smuggling of hard currency from Iraq.  Iskandar said in an interview with Al-Maalouma, “The 
 
 smuggling of hard currency is one of the tools that
 
     drain the economy and
     creates an anomaly in the balance of exchange rates and
     pushes the parallel market to rise, which
     leads to excessive prices in the markets, the price of which is paid by the simple people.” 

He added,   
"The efforts of the Ministry of Interior with the Central Bank and supporting formations contributed to reducing the file of hard currency smuggling by 80%, while directing 11 qualitative strikes to companies and offices dealing in the file of selling currency illegally."

He pointed out that   
"currency smuggling is part of corruption that requires exceptional efforts to dismantle it, and
 
government committees are continuing to expose it day after day."
 
It is noteworthy that the smuggling of hard currency leads to an increase in exchange rates in Iraq, which puts pressure on the markets and leads to the emergence of excessive prices. Ended 25 F   
 
https://almaalomah.me/news/73456/economy/نائب-يكشف-نتائج-الحرب-على-تهريب-العملة-الصعبة   

Digital Banks... Fears Of Money Laundering And Currency Smuggling To Banks That Do Not Have Branches (Witness)
 
Special Sumerian   2024-08-15 | Source:  Sumerian   1,697 views  Alsumaria News - Local
 
Fears have been raised recently that so-called digital banks are being used for the purposes of money laundering and currency smuggling, especially since
 
they are nothing more than electronic pages that do not have branches on the ground,
 
thus opening a new door to corruption that directly harms the country's economic reality.
 
Economic affairs specialist Ali Tamer said in an interview with Al-Sumaria that
 
merchants and manipulators are lurking to exploit this (digital) card, as
 
this card has adopted the secret numbers of its holders, but these numbers can be adopted by other people as they are a number and not a handprint, indicating that the bank’s oversight The Central Bank has established a mechanism for dealing with this card that can limit these manipulations and currency smuggling outside Iraq.
 
Also, the issue of conducting financial transactions through a phone application and digital cards, some believe that it may open a wider door to corruption, especially since this process is not subject to close monitoring, and this facilitates making deposits at home, withdrawals from abroad, and smuggling money.
 
In an interview with Al-Sumaria, an economic affairs specialist, Duraid Al-Anazi, said that
 
money could be smuggled under the pretext of importing goods, but these goods did not arrive and the money was smuggled.
 
On the other hand, economists confirm that the idea of ​​establishing digital banks that provide their services through electronic channels without the presence of real branches on the ground raises suspicion and fear that it will contribute to confusing the economic situation through incomprehensible operations that could be exploited to harm the country’s economy.
 
To view the report, see the main image above   
 
https://www.alsumaria.tv/news/alsumariaspecial/497144/المصارف-الرقمية-تخوفات-من-غسيل-اموال-وتهريب-عملة-لبنوك-ليس-لها-فروع-شا   

It Attracts Investors And Limits Currency Smuggling.. A Specialist Explains The Importance Of “Digitizing” Iraqi Banks
 
Economy | Yesterday, 15:00 |  Baghdad today – Baghdad  Today, Friday (August 16, 2024), Nawar Al-Saadi, an expert in financial and economic affairs, revealed the
 
importance of the benefits of “digitizing” the financial transactions of Iraqi banks, while noting that
 
digitization can enhance financial inclusion by attracting users who do not deal with traditional banks remotely. By providing services that are accessible and easy to use.  Al-Saadi told “Baghdad Today” that
 
 “digitizing financial transactions in Iraqi banks can provide great benefits, especially with regard to reducing cases of currency smuggling,” noting that
 
“by adopting digital systems, banks can track all financial transfers with greater accuracy and transparency.”
 
This means that every transaction is automatically recorded and saved in a central database that can be reviewed at any time.
 
This allows the relevant authorities to quickly monitor and detect suspicious financial activities, making it difficult for smugglers to exploit the financial system to smuggle currency.”  He added,
 
"The digitization of the banking system contributes to reducing cases of money laundering, as these operations usually depend on exploiting loopholes in traditional systems,
 
but with the presence of an advanced digital system, these operations become more complex, and
 
digitization allows the use of advanced technologies such as artificial intelligence to analyze patterns." in banking data and identifying any abnormal or suspicious transactions,” stressing that
 
“this helps prevent money laundering by early identifying unusual activities and reporting them to the competent authorities.”  Al-Saadi explained,
 
 “To implement this digital transformation in Iraq, there is a need for investments in technological infrastructure and developing the institutional capabilities of banks,” noting that
 
“this requires providing modern technology, training employees to use it effectively, in addition to developing legislation and laws that protect users and encourage On digital transactions,
 
it is also important to enhance customers’ awareness of the benefits of digital transactions and build their confidence in the new systems.”  He stressed that
 
"digitalization in banks contributes to achieving more transparency and credibility in the financial system, as every transaction can be easily tracked and reviewed.
 
It also works to improve the operational efficiency of banks by completing transactions more quickly and at a lower cost.
 
From a security standpoint, digitization provides higher levels of security." Protection against fraud and theft through advanced encryption technologies.  The expert in financial and economic affairs concluded by saying,
 
 “Digitization can enhance financial inclusion by attracting users who do not deal with traditional banks by providing easy-to-access and easy-to-use services.
 
The digitization of financial transactions in Iraqi banks also carries great potential to enhance economic stability and reduce the risks associated with it.” Money laundering and currency smuggling, leading to a safer and more efficient financial system.” 
 
https://baghdadtoday.news/255745-تجذب-المستثمرين-وتحد-من-تهريب-العملة.-مختص-يبين-أهمية-رقمنة-المصارف-العراقية.html 

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

News, Rumors and Opinions Saturday AM 8-17-2024

Note From Dinar Recaps:

We were just notified that a long time intel provider for many years has passed away. 

AngelQuest was a newshound at KTFA and posted at several other sites for many years.

RIP Darline. Prayers and condolences to all of your friends and family.

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 Sat. 17 Aug. 2024

Compiled Sat. 17 Aug. 2024 12:01 am EST by Judy Byington

Judy Note: Trump recently warned of an unprecedented collapse of the US and World financial markets, “It will be a Blow Up like you’ve never seen before, a Bankruptcy of the entire system, perhaps the Nation”

Fri. 16 Aug. 2024 Will Barney, former Banker: “We are undergoing a massive transition in the World and the financial system is about to collapse. Chase Bank has lost two billion in deposits. It’s a Banking Apocalypse. The Military is on heavy movement throughout the US. There are internet outages where people are being taking into custody and the Military wants to stop communication. There are tests of the EBS system. Germany is on the edge of a big financial collapse. All credit could freeze up. The RV will likely be during the EBS. Train derailments are continuing. The Deep State is moving cargo they shouldn’t be and the Cabal is deliberately spilling chemicals into the ground water to create chaos.”

~~~~~~~~~~~~~

Global Currency Reset: (Rumors)

Judy Note: What we think we know as of Sat. 17 Aug. 2024:

Fri. 16 Aug. 2024 TNT Tony: “The system is live and working. People high up exchanged yesterday Thurs. 15 Aug. and today Fri. 16 Aug. The system is working. We are hours maybe a day away – tonight or tomorrow morning Sat. 17 Aug. emails could come out. Iraq has officially RV’d with a Rate of $3.19, Contract Rate $28.50. It would happen after Banks close tomorrow Sat. 17 Aug. Tier4b (us, the Internet Group) will be notified Mon. 19 Aug. with exchanges beginning Tues. 20 Aug.”

Fri. 16 Aug. 2024 MarkZ: Mark was hearing the process was underway.  More bond contacts continuing to anticipate payments through the weekend. One large group in Reno is expectant but hasn’t started yet. Redemption Centers on standby. Mark suggested things could very well start this weekend but don’t be disappointed if it takes an extra day or two.

Thurs. 15 Aug. 2024 Bruce: “The USN will be on the Forex Sun. night 18 Aug. and will be seen on bank screens Mon. morning 19 Aug. Tier4b(us, the Internet Group) should get notified sometime by Tues. 20 Aug. 2024.Tier 4b exchange/redemption appointments should start by Wed. 21 2024.”

Fri. 16 Aug. 2024 Wolverine: “Exciting things have happened, but I’m not allowed to say what. People are expecting something Sun. night 18 Aug. Just to let you know guys is to get ready. I’m sorry that I can’t say anything as everyone is under total NDA now and soon I will be as well. That opera will be release any day now.

Thank you for all the support you have all given me as this is one of the most hardest things that I have done in my life as it has control our way of life for years and played with our emotions. We have seen so many of our compatriots that did not make it and thankfully their family will cross the finish line for them.

During this journey I never thought that I was going to be attacked viciously and even to this day the attacks are still continuing. I know within my heart that I’m doing God’s work and that too many of you are suffering and you need hope and a messenger to know what is going on. As soon as I’m under NDA you won’t hear from me anymore but my job has been completed and I can leave with good conscience that I have done everything possible to help you.

 The opera will be release once I receive the green light. Don’t forget the Get Together in February 2025 here in Sydney as we are planning to have the biggest party that Sydney has ever held with all these patriots coming from so many countries. Remember that it’s going to be a gala night and so wear your best clothes everyone. I’ll let you all know the day and the address of the Get Together. Love you all. Your friend Wolverine.”

Thurs. 15 Aug. 2024 Farm Claims liquidity, Ginger’s Liberty Lounge: Reports regarding Farm Claims settlements being paid are accurate; and this is a very nice item which we can happily check off our “non negotiable list”. I was unable to share the exact details from my own confirmed contact, so I am sharing this other news passed along from someone else. 8.14.24. Lamb: “I just got off the phone with a friend of mine, she told me that her friend that had registered with the farm claim packages … He woke up to $500,000 in their bank account with no explanation, no nothing, he showed her the bank statement and knows this other person had “no pot to piss in” before (per se). So the statement about farm claims being paid is 100%.”

Fri. 16 Aug. 2024 RV Highlights: Nesara will be announced first. This way the PUBLIC (everyone) will receive financial relief from debts. The RV will also be released QUIETLY for T4b for us to revalue.  Once 4b is done or nearly done, then the public will commence on their exchange.  The purpose of the NDA is to keep T4b mouths shut (or their funds will be clawed back) regarding the amount of rates being paid out because the PUBLIC will NOT be receiving the same high rates. This is to keep the PUBLIC for being upset and causing backlash. 

Read full post here:  https://dinarchronicles.com/2024/08/17/restored-republic-via-a-gcr-update-as-of-august-17-2024/

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

Buckeyetree  Talking about new currency, lower notes, signifies to Iraqis that a rate change is coming with purchasing power, being able to buy more with less, the opposite of inflation.  Alak and Sudani are holding back the lower notes till they can give them the new rate.  The Iraqis win, and we win because a rate change is coming which requires new notes.

Nader From The Mid East   [Iraq former government/UN employee friend Imad from Basra update]  Question:  "Have they come out with the new notes in Iraq?"   No.  They working on it.

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Fiat Money FAILING, Gold HITS All-Time Highs (2024)

The Market Sniper:  8-17-2024

https://www.youtube.com/watch?v=zyPy3yfIxqs