More News, Rumors and Opinions Saturday PM 8-24-2024

KTFA:

Clare:  More than 100 tons.. Iraq is the ninth largest buyer of gold in 2024

8/24/2024  Economy

Iraq ranked ninth globally among the top 10 countries buying gold this year. What is meant by gold is converting foreign currency reserves into gold, not the gold of goldsmiths and citizens.

 Iraq bought 100 tons of gold this year, coming in ninth out of the top 10 countries buying gold this year, compared to 1,298 tons bought by Russia, as interest in buying gold is growing amid rising geopolitical tensions and economic fluctuations.

This comes as the precious metal hit an all-time high of $2,531.75 an ounce after breaking above $2,500 for the first time this month amid growing expectations that the Federal Reserve is close to cutting interest rates.

Bullion typically benefits from low interest rates, and central banks hold gold reserves because of its strong collateral, liquidity and yield properties.   LINK

Clare:  Iraq and America to resume negotiations on the banking sector next Monday 

8/24/2024  Baghdad

 A delegation from the Central Bank of Iraq is traveling to the United States of America to resume negotiations on the banking sector.

An informed source told Al-Eqtisad News that a delegation from the Central Bank of Iraq will begin negotiations with the American side on August 26 in America. 

He added that the Central Bank has moved towards signing a contract with the international company Oliver Wyman to present a plan on reforming the private banking sector, within the next six months. 

 He pointed out that the proposed plan includes merging some banks or cancelling the licenses of some banks.   LINK

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

Frank26   I don't care about the WTO and HCL because it only waits for one thing, the new exchange rate.  The only mechanism that everyone is waiting for is the new exchange rate.  That is the simple fact.  This fact is real because Sudani is constantly reinforcing that idea...by constantly coming out on TV and talking to you [Iraqi citizens] about you're going to get purchasing power.

Militia Man  Article: "Iraq is heading towards printing new paper currency"  They're not going to print new currency in the sense of triple zero notes...There's no reason for it.  They were destroying perfectly good triple zero notes.  They did a video on it...destroying money, making little pellets.  They had a whole show on it.  Why would they be destroying good money?  Granted, if they filmed that they were damaged with ink on them, all these different things, I understand that.  That wasn't the case.  In 2018...they spent tens of millions of dollars on printing new currency... Bottom line is, why would they be printing triple zero notes at a time when inflation is low?  That would create inflation.  The whole idea is not to do that.  Article quote:  "There's no intention to print new paper currency at the central bank..."

The cbi is doing good

Nader:  8-24-2024

https://www.youtube.com/watch?v=e-miBnjW51E

Housing Crash WILL BE EXTREME (U.S. ECONOMY in BIG TROUBLE)

Sachs Realty:  8-24-2024

Worst housing crash in history expected, We're in a more dangerous bubble and the U.S. economy is destroyed.

https://www.youtube.com/watch?v=aoKs02HSGk0

Bruce’s Big Call Dinar Intel Thursday Night 8-22-24

We apologize for being late with Bruce's Transcription Notes  - Our team member had major surgery and was incapacitated Thursday and Friday - Thank You for understanding

Bruce’s Big Call Dinar Intel Thursday Night 8-22-24

Transcribed By WiserNow Emailed To Recaps

Welcome everybody to the big call tonight – it is Thursday, August 22nd  and you're listening to the big call. Thanks everybody out there in big call universe for tuning in yet again, as we basically are on our way to finishing out the month of August, which is amazing to me and everybody else - I know you're all shaking our heads. We've got our rally cap on.  You know, that's a good thing. If I had a cap on, it would probably be turned backwards. So let's do this as ever. Let's go ahead and pray the call in

Okay, thank you, Bob. I'm going to go ahead and get right into Intel without doing a major shout out to Canada, although I would love to, let's, let's start with, we see I got a little bit tracked. I need my 10 second pause, which I'm not going to take, but I need, I think the first thing that we need to talk about what is showing up on redemption Center's screens

Yesterday, we had nine currencies show up. This morning those nine showed up, and then next thing you know, we've got 12 showing up. And then later in the afternoon, we had 15 currencies showing up. And these were rates with these were currencies with live rates. I mean, that's not called live rates with real, solid rates on the screens.

Now we know there are 19 currencies total going up in value, and one of which is the USN is  one of the currencies -  our United States Note , or some people call it the United States “new”  meaning new dollar would be showing up as USN on the bank screens and redemption center screens and on the Forex.

Okay, so we only have 15 currencies as of this afternoon that lit up over there, and that's good. And we'll get the rest of them probably tomorrow, would be my guess, but we don't know that, of course, not tomorrow yet

But what I like is that we heard about a couple of things regarding rates. I mentioned last time that the contract rate on the dinar would be offered to you, and it is just under hundo right now, and it's on its way to that number should be there by the time we go in for changes and our redemption of zim. And really, we've seen increases in the Dong as well, and that's a good thing to see.

And so that's going to be good for all of us. You guys are going to be very happy at the redemption centers with the rates I have to tell you rate - the screen rates at the redemption centers are going to be three times higher than the bank rate on the dinar and twice as high as the screen rate in the bank on the on the Vietnamese Dong.

So you got factors there the other currencies, I can do this much, the  other currencies, Bolivar  and some of these other currencies are going to all be between four and seven, between 4 and 7 and that's dollars. That's really good. So we're going to be in good shape on all rates. So don't worry about that.

I did want to cover that. Let's see. Let's go into what's happening with the emails. Now, remember, I told you that emails were going out to the  redemption center operatives, or I call them leaders, the redemption center, leaders, and remember, there quite a few east of Mississippi, there's a lot West to.

There's quite a few total that these emails are going out to. They have not received the email yet. They don't have the green light at the redemption center. They have not received them yet, but it's anticipated that they will receive those approximately 4:30 tomorrow afternoon after the markets close, it should be pretty close to 430 in the afternoon that those emails are received at the redemption centers.

 Now, when do we receive our emails? We don't know that yet. Don't know it could be tomorrow. It could be Saturday or Sunday. It's hard to say. It really is, but we know that bondholders are expecting their email will go out Sunday night, Sunday night, so that a lot of those guys won't get access to this on Monday, or maybe even Tuesday. The bondholders. Okay.

Now, the other thing that is really interesting about us is it looks like our start for notification and exchanges could start over the weekend, with notifications. It could defer to Monday, with exchanges starting either Monday or Tuesday. That's very possible.

However, that what we have really looking forward to in receiving our emails, which will have the toll free number that we call in them, is that we're looking to receive them in conjunction with the Emergency Broadcast System.

And here's how it's expected to work. The EBS, emergency broadcast system is going to be on television now, the EAS emergency alert system, we always get those. Those are what we get on our cell phones -  what they’re going to do is alert us on our cell phones to tune into a television to get the EBS announcements.

Now, when are they to start? I'm hearing EBS is to start over the weekend. I don't know if it's Saturday, I don't know what day, if it's Sunday, don't know. But get this, we've been talking about this generally, or other people have for years. Years, we've been looking for EBS  announcements.

Okay, they're going to be on for eight hours, three times a day. I don't know if the eight hours is going to remain the same and repeat two more times in 24  hour period, which would be eight times three is 24 that's a day, and it's going to continue like that for 10 days.

Now, that's not darkness, that's 10 days of disclosure, and it could end up being 12 days, but I'm hearing 10 days of disclosure, okay, 24 hours a day, and I'm sure it's good. It could get a little repetitive, but we'll have to see, hopefully and we're able to get a lot out of it. I can only imagine what it might include, but what good things could include?

 Could it include announcements about NESARA or GESARA  and what that includes like R and R like, debt forgiveness, debt jubilee, the release of our mortgage, our mortgages, in other words, the zeroing out of our mortgages. Could it include the release and the removal of credit card debt.

Both of those are huge factors in our debt jubilee or debt release. I would think that would be part of it -  what else could be included?. It could include some of the trafficking information that we know about from the tunnels, the whole adrenaphone problem and so on, it could include a lot. I think they'll throw some sweet in the sour. I think we'll have a mix that I don't know exactly what all we're going to see.

Imagine this is finally going to take place this weekend and go for at least 10 days. What's interesting about that is this is also a cover for us going in and doing our exchanges and our redemption of zim. So it could be very interesting cover for us to do that, so that attention is not on us, but is on the television to watch what is actually being broadcast, as far as PBS is concerned.

 Now, what else might be really interesting is we believe this is going to occur on all, or almost all, TV stations. It would be wild this way, mainstream media, main networks and so on, could be using this, this emergency broadcast system,  we are maybe going t o be  told where to tune to get it.

I don't know if every single station will hold at it or not, but we'll find that out. It's going to be a surprise to me, but it may be that this is going on, and this is not the same as 10 days  of darkness. If there's darkness, guess who it's for? That's right, deep state, the Cabal.

Do we lose cell service or electricity or any or radio set. No, no, we don't forget about it. Who loses that is the cabal -  Anybody that they're targeting for arrests, yeah, they lose their cell service with their internet -  not us – it’s not  supposed to happen -  we're not going to lose it. I don't care who you are reading online. It's not supposed to be that way for us. Okay,

There's been some other misinformation that's been brought out, but I can't remember what it is right now, other than that, but I think what we're looking for is right there. It's right ahead, and it's possible that we got something tomorrow, but I've been told by several sources, it would be the weekend when this occurs. Well, that, to me, is still Saturday or Sunday, and we should get this in time   set appointments, start exchanges, if not over the weekend, then very early next week.

Just gonna have to ride that out and see what happens over the weekend in terms of our emails that come to us. I have heard that the admirals group will start Saturday, Sunday, Monday, which is interesting, because that's the weekend, Saturday, Sunday and Monday would continue it.

I think if we do get started Saturday for us, the redemption centers will be open Sunday, and they'd be open, obviously, Sunday, Monday, Tuesday. Do this. Let's say you're a dong holder. All you have is dong. If you want to help yourself, you'll get the best rate by setting  your appointment using the 800 number and send your appointment to go to the redemption center, because what you get on the dong will be approximately twice as much per dong at the redemption center as it would be at the bank. So I know that for a fact, because we've been seeing what the rates are

Beyond that. You guys, I think that's so interesting that even the redemption centers are waiting, just like we are,  they are waiting for emails 4:30 tomorrow to receive those emails that give them the green light to look forward to everything that we're looking forward to with setting appointments - so we could get something as early as tomorrow evening,  but I think is going to end up being  Saturday or Sunday.

 It's just, you know, how this thing changes. Even the intel that I had pursue at five or six o'clock tonight changed, you know, in the last, you know, in an hour or so later, or an hour and a half later.  So things like this do change

Now we hope that everything's on track for us to receive these and get these exchanges started and really get them started. And we're supposed to have everything well underway before or by the 28th which is Wednesday,

I think we are in good shape to get that before then. And I don't really believe in the term back walls, that's another term on the big call that's been banned. So just take that for what it is. I think we are supposed to get underway, and all debt forgiveness is supposed to be done by the end of August which is the 31st  so we'll see if that's what happens.

That's really the bulk of the information.

Also, let's and pray the call out now. That's really everything I want to share with you guys. Let's pray. So everybody have a great night. We should have a good weekend, a great weekend this weekend. So let's see where  and check your emails over the weekend.

Bruce’s Big Call Dinar Intel Tuesday Night 8-20-24   REPLAY LINK  Intel Begins 1:32:32

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHh5q

Bruce’s Big Call Dinar Intel Thursday Night 8-15-24   REPLAY LINK   Intel Begins   57:00

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHhZQ

Bruce’s Big Call Dinar Intel Tuesday Night 8-13-24   REPLAY  LINK   Intel Begins  1:14:14

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHhe8

Bruce’s Big Call Dinar Intel Thursday Night 8-7-24   REPLAY LINK   Intel Begins  1:08:40

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHh8j

Bruce’s Big Call Dinar Intel Tuesday Night 8-6-24   REPLAY  LINK   Intel Begins   1:05:40

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHhoP

Bruce’s Big Call Dinar Intel Thursday Night 8-1-24   REPLAY LINK   Intel Begins  51:00

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHuVL

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

Good Afternoon Dinar Recaps,

CARDANO DELAYS CHANG HARD FORK TO SEPTEMBER

Cardano delays its Chang hard fork to September 1, ensuring full ecosystem readiness, while exploring a potential groundbreaking AI partnership with Algorand.

Cardano has postponed its much-anticipated Chang hard fork to September 1, moving the date from August 27. 

This delay allows more time for exchanges and decentralized applications (DApps) to prepare. The decision, announced on August 23 by Intersect, a Cardano membership organization, ensures the ecosystem is fully ready for this crucial upgrade.

The Chang hard fork is a critical milestone in Cardano's journey toward the Voltaire era, which will bring enhanced community governance and smart contract capabilities. The delay emphasizes the importance of being fully prepared to avoid any disruptions during this major transition.

This hard fork is significant not just for its technical upgrades but also for how it involves the community in decision-making. Intersect highlighted that it's the first time such a wide range of community members and engineers have been involved in the process.

This marks a shift in how decisions are made within the Cardano ecosystem, with more emphasis on community participation and on-chain governance.

Charles Hoskinson, Cardano's founder, provided further insight into the delay. He revealed that some exchanges, particularly Binance, were not yet ready for the upgrade.

Hoskinson compared the situation to a rocket waiting for the weather to improve before launch, indicating that everything must be perfectly aligned for the hard fork to proceed smoothly.

The Chang hard fork is a key step in Cardano's roadmap, especially as the network moves towards the Voltaire era. 

This era will enhance Cardano's governance model, allowing token holders to be more involved in decision-making. The upgrade will also improve data security and expand smart contract functionalities, making it a pivotal development for the network.

While preparing for the Chang hard fork, Hoskinson is also exploring a possible partnership with Algorand, a competing blockchain network. This potential collaboration could create a "decentralized AI powerhouse," combining Algorand's technology with a proof of work system optimized for AI. Hoskinson believes this partnership could push the boundaries of decentralized AI and revolutionize the industry.

The idea of a Cardano-Algorand partnership has sparked interest in the blockchain community. Gary Malouf, Algorand's Chief Technology Officer, expressed interest in discussing the possibilities further.

This potential partnership could lead to significant developments in the blockchain space, as both networks continue to evolve and expand their technological capabilities.

Algorand, founded in 2017 by MIT professor Silvio Micali, has positioned itself as a leading Layer-1 blockchain network. Despite controversies over its advertisements criticizing rival networks like Bitcoin and Ethereum, the potential collaboration with Cardano could open new avenues for innovation and collaboration in the blockchain industry.

In summary, the delay of the Chang hard fork to September 1 allows Cardano to fully prepare for this critical upgrade.

At the same time, the potential partnership with Algorand could lead to groundbreaking advancements in decentralized AI, marking an important moment in the blockchain industry's evolution.

@ Newshounds News™

Source:  Coin Paprika

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IOTA Set for MEXC LISTING IN ASSESSMENT ZONE: USDT Trading Pair Goes Live

IOTA is set to be listed in the Assessment Zone of the MEXC exchange after recommendations from community users.

Recently, IOTA announced that it has completed the final phase of the European Blockchain Pre-Commercial Procurement.

The exchange of high-performance and mega transaction matching technology MEXC has announced the IOTA (IOTA) listing in its Assessment Zone.

According to the official blog post, this groundbreaking move would be a gateway for the commencement of open trading for the IOTA/USDT trading pair. Trading start time, August 23, 2024, at 12:00 (UTC).

@ Newshounds News™

Read more:     Crypto News Flash

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RUSSIA PLANS TO PEG CHINA'S YUAN TO IT'S NEW STABLECOIN

According to a Kommersant source, Russia has revealed plans to launch two State-linked crypto exchanges to incorporate digital payments for trade settlements. The two crypto exchanges will operate in Moscow and St. Petersburg.

Russia gets deeper into decentralized finance

Russia, the heavyweight nation behind BRICS, plans to launch a new stablecoin linked to the Chinese yuan. Since the war broke out between Russia and Ukraine, the US sanctions have forced Russia to find alternative payment methods to keep its economy afloat.

Russia intends to link the Chinese yuan to the new crypto-based stablecoin at a 1:1 ratio. This guarantees that the coin’s price remains consistent and without volatility, making it reasonably safe for carrying out transactions without fear of price fluctuations.

The plan is that the Russian ruble and the Chinese yuan will profit the most when trade is handled using the new payment mechanism, finally achieving their de-dollarization agenda. The US dollar will play no role in the payment system, allowing local currencies to take a large proportion of settlements.

Russia’s launch of the crypto exchanges has “The goal is to support foreign economic activity (FEA).” According to lawyers and analysts, they will most likely be created in an experimental legal regime.

@ Newshounds News™

Source:  CryptoNewsz

~~~~~~~~~

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“Tidbits From TNT” Saturday 8-24-2024

TNT:

Tishwash:  Iraq and America to resume negotiations on the banking sector next Monday

A delegation from the Central Bank of Iraq is traveling to the United States of America to resume negotiations on the banking sector.

An informed source told Al-Eqtisad News that a delegation from the Central Bank of Iraq will begin negotiations with the American side on August 26 in America. 

He added that the Central Bank has moved towards signing a contract with the international company Oliver Wyman to present a plan on reforming the private banking sector, within the next six months. 

He pointed out that the proposed plan includes merging some banks or cancelling the licenses of some banks.   link

Tishwash:  A parliamentary invitation to host the responsible authorities to find out the reason for the rise in the price of the dollar

Today, Saturday, independent MP Jawad Al-Yassari called on the Presidency of Parliament to host the relevant authorities to find out the government's measures regarding the dollar crisis. 

The leftist told the Maalouma Agency, “The rise in the exchange rate of the dollar against the Iraqi dinar is still ongoing in an unprecedented manner, stressing the need to determine the causes of this crisis and its clear negative impact on the economic and social conditions in the country.”

He added, "A number of independent representatives had previously called on the Presidency of the House of Representatives to host the relevant authorities to learn about the government's measures regarding the dollar crisis." 

He pointed out that "the slow financial measures taken by the government would cause additional damage."

He stressed the need to "develop quick solutions and stop the rise in dollar prices in local markets." link

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Tishwash:  Al-Marsoumi expects a "tragic and exciting chapter" after "hidden hands" tamper with budget tables figures

 Economic expert Nabil Al-Marsoumi revealed, today, Saturday (August 24, 2024), what he called hidden hands that tampered with and changed the numbers of the budget tables in its paper and electronic versions.

Al-Marsoumi said in a post on the Facebook platform, followed by Baghdad Today, that "the Presidency of the Republic has not approved the 2024 budget tables and they have not yet been published in the Iraqi Gazette, despite the parliament voting on them about two months ago," indicating that "the reason for this is the hidden hand that tampered with and changed the numbers of the tables in the paper and electronic versions and added 15 trillion dinars to them."

He added, "After the two letters sent by the Prime Minister's Office to the House of Representatives to investigate this issue, and after the complaint submitted by MP Basem Khashan to the Federal Court, it seems that there is an exciting tragic chapter that we will witness in the coming days."

Acting Speaker of Parliament Mohsen Al-Mandalawi confirmed on Wednesday (August 21, 2024) that the budget tables voted on by the Council are the same as those sent by the Council of Ministers.

According to documents issued by the director of Al-Mandlawi’s office, received by “Baghdad Today”, “the budget tables voted on by the House of Representatives are the same ones sent by the Council of Ministers and returned to it, according to Parliamentary Resolution No. 64, without any amendment, and the aforementioned tables are the same ones that were sent after approval to the government.”

It is worth noting that the member of the Parliamentary Finance Committee, Moeen Al-Kazemi, revealed on Wednesday (June 26, 2024), that an appeal was filed by a member of the Legal Committee in Parliament, against the approval of the 2024 budget schedules.

Al-Kadhimi told Baghdad Today that the appeal was submitted "on the grounds that the numbers included in the budget items will change, and thus this is considered a change to the law and requires the enactment of a new law with a first and second reading, and final approval."

He pointed out that "another objection is to changing the financing of oil producing companies from self-financing to central financing, and this matter is considered another piece of legislation that cannot be included in the budget tables."

Al-Kadhimi pointed out that "the Federal Supreme Court referred this lawsuit to the Presidency of the Council of Representatives and requested an answer within 15 days."

On June 3, 2024, the House of Representatives voted on the tables of the Federal General Budget Law No. 2024, amended (13) for the year and its attachments, Tables (A/B/C/D/E and F  link

Mot:  ..... More ""Marital Training!!! – siiggghhhhh 

Mot:  Earl is Soooooo Wise!!!!

Weekend News With MarkZ 8-24-2024

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

GOOD MORNING ALL! HAPPY SATURDAY! THE CBD GURUS KICK OFF THE FIRST 45 MINS AND MARK GIVES HIS NEWS UPDATE AT 10:30 AM

Member: Good morning @MarkZ , and all the mods and the rest of the community.

Member: You think we’re going to ever cross this finish line before September ?

MZ: As far as RV related news – there is a lot of expectations in Iraq for this weekend. But no huge movement yet. We are waiting to get some news.

MZ: Iraqi contacts are pretty hopeful they can force a dinar value change to reduce the use of US dollars . A lot of hopeful talk …and most are looking for a change on Sunday. That’s only a day away so guess we will soon find out.

Member: Many feel that Saturday night is the best night to change rates….all the banks worldwide are closed for a short time on Saturday nights. Just sayin……

MZ: We are hearing that they are off “stuck” and have moved past the initial round of bond stuff and they are starting to prepare (in mass) the folks with German bonds. I am 100% certain that is what they are going to start processing next. Hopefully also releasing the money that goes with it.  I started getting this news last night.

MZ: We are hearing money is moving fairly quickly…but we have heard that before.

Member: What are some of the milestones or markers you are still looking for before our notifications Mark?

MZ: For me- I think we need to see more farm claims and settlements paid. And past Farm claims into CMKX and fines and Penalties. This is some of the milestones we should be able to see in the coming days…I would think….

MZ: Iraq is not the only monkey in the game….They are just the easiest to track….. . But we also track bonds and F&Ps…..also easy to track. Iraq is not the only cog in the wheel. But they just need to release that new rate.

Member: If you sign an NDA will your podcasts stop?

MZ: If CMKX pays out and If a NDA kicks in….I may have to quit the podcasts for awhile….but, it would totally depend what it says…If its only an NDA on CMKX I would just not talk about it….ban all talk on it. My concern about discontinuing the podcasts for weeks…is the fear and uncertainty in our community. So I will do my level best to say on – even if it’s only to talk about the weather until we are allowed to talk about specific topics. .

Member: If you sign a currency exchange NDA…so will the rest of us I assume….so we will all just have to be quiet together.

Member: What is your gut saying?

MZ: Many people are thinking we have to wait until November of January for the RV. That is not what I am hearing from the banking side , the settlement side and the bond side. If Nesara holds any kind of truth…..why would we have to wait?

MZ: If whitehats are as powerful as they say they are….why would we have to wait until then….of course if they were that powerful why have they not already flipped the switch? I have a lot of conflicting beliefs on this one. But, I don’t believe we will be waiting that long.

Member: Is the US still holding up the RV and Iraq?

MZ: I don’t think so….I think the US is desperate for money….I think the ones fighting it are the Rothschild banks.

MZ: “ Powell Pivot is complete. Gold stocks, bitcoin and bonds surge as Fed chair says “Time has come for policy surge to adjust”  At least 25 points to 50 basis points. …or ½ of a percentage is what they are talking about.  It will be very important to get to a reset and sound money with these policies….I believe the next administration will reap the benefits of this.

MZ: MilitiaMan did a great breakdown on all the progress we have seen throughout the week…be sure to go watch, and share…..

MZ: I think things are setting up to be a heck of a chapter in this story.

Member: Goldilocks dropping several articles with dates in October for final rules and Regs for crypto and Foreign currency. Looks like we May have to wait until October???

Member: Lord, please release your biblical golden jubilee and bless this community to go out and be beautiful examples of your unconditional LOVE

Member: Have a very fantastic and blessed weekend all you fabulous looking people that I appreciate very much. See you all on Monday morning.

Member: God Bless everyone and I hope you all have a blessed weekend!

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 WEEKEND! SEE YOU ALL MONDAY MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

Youtube:     https://www.youtube.com/watch?v=L5CkNM75FKc

News, Rumors and Opinions Saturday AM 8-24-2024

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

RV excerpts from the Restored Republic via a GCR: Update as of Sat. 24 Aug. 2024

Compiled Sat. 24 Aug. 2024 12:01 am EST by Judy Byington

Judy Note: As the Global Financial System continued to collapse, Deep State Cabal Elites were expected to destroy power grids Worldwide in an effort to prevent a complete financial meltdown of their bankrupt system only shakily held up with fiat monies.

Don’t worry. A Worldwide Blackout would only give reason for the Global Military Alliance to activate their Emergency Broadcast System (EBS); switch to Tesla Free Energy across the Globe and implement the gold/asset – backed Global Quantum Financial System that backed GESARA/ NESARA while destroying the Deep State Cabal Banker’s control over our money they have held since 1913.

With GESARA’s wealth distributed to everyone willing to work, there will be no more poverty, while homelessness will be unknown. People of 3rd World Nations will be incentivized by GESARA funds to return home to build up their own countries. Those sovereign governments will be 10% of their present size, with honest officials placed in office through fraud free elections.

The transition from Nuclear Energy to Quantum Energy will create new industries and businesses, plus the emergence of the Quantum Network will revolutionize the way we can safely and privately connect with each other.

Med Beds will assure no more drugs, addictions, illness or disease of any kind.

The large corporations manned by the Global Elite Cabal that have been poisoning our air, water and food will be dead broke, their CEOs incarcerated. With redemption of Zim Bonds by the General Public, the most comprehensive funding of Humanitarian programs in Earth’s history was underway and carefully designed toclean up the air, water and planet.

People will be incentivized to grow their own healthy food in off grid homes that produced their own energy and water, thus The People would no longer be forced to adhere to unreasonable regulations and the loss of freedom that goes with living in crowded communities.

The People’s Common Law Courts and Justice will assure Freedom for all on Planet Earth.

We are on the brink of a meticulously engineered catastrophe, orchestrated by the global elite to strip away our freedoms and plunge us into chaos. But what the elites fail to grasp is that this engineered Black Swan event will be their undoing.

As the old world crumbles, a new era will rise from the ruins. The stock market, cryptocurrencies, and the power grid—everything used to control us—is about to implode, signaling the dawn of a revolutionary transformation.

~~~~~~~~~~~

The Black Swan Event: The Final Gambit.

This Black Swan event isn’t a random catastrophe; it’s the final, desperate move of a corrupt system nearing collapse. The financial structure that has enslaved us for decades is set to be obliterated, bringing down the power of the global elite.

The financial bubble they’ve inflated is about to burst, leading to a stock market crash, cryptocurrency wipeout, and global economic chaos. They believe they can control this collapse and engineer a reset on their terms, but they are gravely mistaken. This collapse will be their downfall.

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

The Blackout: The Elites’ Desperate Move

As the financial system collapses, the elites will make their final, desperate move: a deliberate blackout. This power grid shutdown will be a calculated act to plunge the world into darkness and fear, aiming to prevent a complete financial meltdown and keep us subdued.

But this blackout is also the trigger for a massive change. It will activate the Emergency Broadcast System (EBS), signaling the end of the old financial order and the birth of the Quantum Financial System (QFS), designed to liberate us from elite control.

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

The Emergency Broadcast System: Catalyst for Change

The recent EBS test was more than a drill—it was a rehearsal for the upcoming financial reset. When the blackout occurs and the EBS activates, it will mark the end of the old world and the rise of a new financial order, powered by QFS, GESARA (Global Economic Security and Reformation Act), and NESARA (National Economic Security and Reformation Act).

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

The Quantum Financial System: A New Dawn

The QFS is not just a new financial system; it is a revolutionary, decentralized, and incorruptible system powered by quantum technology. It will ensure fair wealth distribution and dismantle the power of the global elites, ending their long reign of financial tyranny.

This system will be immune to the corruption and manipulation of the old order, rendering it obsolete. The impending blackout will act as a catalyst for this transformation, making way for the QFS to usher in an era of freedom and prosperity.

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

The Fall of the Elites: A New Era Begins

The Black Swan Event will mark the end of the global elite’s dominance. The stock market crash, blackout and EBS activation are all part of a grand plan to liberate us from their control. The old world is collapsing, and the elites’ attempt to maintain their power will fail.

When the lights come back on, a new world will emerge. The QFS will replace the old systems, GESARA and NESARA will reshape our financial landscape, and the power of the global elites will be shattered. The age of financial tyranny is ending, and a new era of freedom and prosperity is about to begin.

Prepare now, for once the lights go out, there will be no turning back. The old world is dead; the new era has begun.

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

Judy Note: With Intel on the GCR almost none existent, it is my opinion that, as Head of the Redemption Committee Dr. Charlie Ward has repeatedly stated, Tier4b would not be sent notification to set exchange/ redemption appointments until after a Global Financial Crash.

Read full post here:  https://dinarchronicles.com/2024/08/24/restored-republic-via-a-gcr-update-as-of-august-24-2024/

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

Frank26  We found out the 3 zero notes are going to coexist with the lower notes for 10 years.  Do you understand the power behind that?  That means we're going to be able to participate in not only the float but the Real Effective Exchange Rate (REER).

Militia Man    We've been here for what...20 years, right?  ...The Truth is today it's not the same.  Nothing 20 years ago has anything to do with today.  You might just hang your hat, chill out and get back on board and pay attention...

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

Gerald Celente: I’m Buying More Gold, Your Money Will be Seized As Economy Collapses

Daniela Cambone:  8-23-2024

Does Gerald Celente think the Gold is in Fort Knox and where does he see it headed? “Gold could soar to $3,000 an ounce this year,” predicts the legendary trend forecaster and publisher of the Trends Journal.

In a no-nonsense interview with Daniela Cambone, he breaks down why it’s not complicated: When interest rates drop, the dollar tanks—and that sends gold prices soaring.

 "It’s not rocket science," he says. Celente goes even further, exposing why today’s economy is a fragile house of cards waiting to collapse.

 He also dives into the looming presidential elections, the harsh reality behind inflation, and why the average American is struggling more than ever.

Don’t miss his bold predictions and insights in this explosive conversation.

https://www.youtube.com/watch?v=AMO89HrVuxo

MilitiaMan: IQD Update - Iraq Dinar News - #iraqi dinar #iraqi dinar exchange rate USA / Prime Minister of Iraq

IQD Update - Iraq Dinar News - #iraqi dinar #iraqi dinar exchange rate USA / Prime Minister of Iraq

MilitiaMan:  8-23-2024

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=UvbU-3xMXCo

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

Good Morning Dinar Recaps,

SWISS NATIONAL BANK announces launch of instant payments in Switzerland

The Swiss National Bank (SNB) has announced the market launch of instant payments in Switzerland.

The introduction of instant payments has been enabled by a technical framework established in November 2023 in partnership with SIX Interbank Clearing.

Around 60 Swiss financial institutions can now receive and process instant payments, encompassing more than 95% of Swiss retail payment transactions.

The SNB says that some institutions have “already launched retail offerings enabling customers to send instant payments”, with more banks expected to announce similar services “in the coming months”.

The central bank predicts that “all financial institutions active in retail payment transactions will be reachable” by the end of 2026 “at the latest”.

@ Newshounds News™

Read more:  FinTech Futures

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85 BILLIONS XRP TRADE MONTHLY ON CASH MARKETS

XRP witnesses significant trading volume on cash markets, with over 85 billion tokens traded by market participants every month.

Recall that American derivatives firm Bitnomial recently unveiled its plans to launch XRP/USD Futures contracts. This move has been described as a crucial step toward the potential future launch of a spot XRP ETF by an asset manager in the United States.

However, amid the excitement, Australian-based pro-crypto attorney Bill Morgan highlighted some important data from Bitnomial’s submission to the Commodity Futures Trading Commission (CFTC), including XRP’s impressive monthly trading volume.

XRP Trade Volume

One of the most striking details revealed by Bitnomial is that over 85 billion XRP tokens are traded on cash markets every month. Data from CoinMarketCap confirms this claim, with XRP’s trading volume averaging $1.6 billion daily over the past few weeks.

Notably, this figure sees occasional spikes during periods of heightened trading activity and price surges. For instance, earlier this month, XRP’s daily volume crossed $5 billion amid the price increase triggered by the final ruling in the SEC v. Ripple case, with South Korean exchanges accounting for most of the figure.

Also, XRP witnessed a surge in trade volume last July following the declaration by Judge Analisa Torres that it is not a security in the summary judgment ruling. Remarkably, XRP’s volume hit $10.4 billion, but this figure was merely the 76th highest in XRP’s history.

Meanwhile, Attorney Morgan also pointed out that Bitnomial’s proposal includes a spot month position limit of 300 million XRP, equivalent to about 0.049% of the total supply.

He stressed that this position limit is notable because it closely mirrors the amount Ripple releases from its monthly escrow, which is often a point of contention among critics who argue that these releases negatively impact XRP’s price.

Ample Regulatory Compliance

Bill Morgan also pointed out that Bitnomial’s filing with the CFTC includes a U.S. clearinghouse license, ensuring compliance with regulatory standards. This addresses concerns about market manipulation and the protection of participants. Bitnomial obtained a clearinghouse license from the CFTC last December.

Moreover, the July 2023 summary judgment ruling in Ripple vs. SEC lawsuit, in which the court ruled that XRP is not a security in itself, has bolstered confidence in XRP’s regulatory standing.

This ruling, combined with Bitnomial’s CFTC-approved futures contracts, could further legitimize XRP in the eyes of regulators and investors, potentially accelerating the timeline for a spot ETF launch.

The introduction of XRP/USD Futures by Bitnomial is also about paving the way for a spot XRP ETF. Futures contracts are often a precursor to spot ETFs because they provide a regulated framework and pricing mechanism that can be used as a reference by potential ETF issuers.

@ Newshounds News™

Source:  The Crypto Basic

~~~~~~~~~

CHINA SUPREME COURT revises Anti-Money Laundering law to include ‘virtual assets’

The Supreme People’s Procuratorate said the number of people prosecuted for money laundering has risen 20-fold since 2019.

China’s supreme court and public prosecutor have revised their interpretation of the country’s Anti-Money Laundering (AML) laws to recognize “virtual asset” transactions for the first time.

The country adopted its existing AML law on Jan. 1, 2007, making the latest revision its first significant update in almost two decades.

In an Aug. 19 conference, the Supreme People’s Court and the Supreme People’s Procuratorate said under their new interpretation of the law, “virtual asset” transactions are now listed as one of the recognized money laundering methods.

It comes amid recent speculation on X that the country could be looking to unban crypto soon — though many are skeptical about it.

According to the courts, the transfer and conversion of criminal proceeds through digital transactions will now be covered under regulations that prohibit “covering up and concealing the source and nature of criminal proceeds and their benefits by other means.”

@ Newshounds News™

Read more:  Coin Telegraph

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CAMBODIA LAUNCHES BAKONG TOURIST DLT PAYMENT APP

The National Bank of Cambodia has already achieved enormous success with its Bakong digital payment app that uses DLT. There are more than ten million wallets out of a population of 17 million. Now it has soft-launched an app for Cambodian tourists.

Beyond the Bakong tourist app, a key goal of Bakong is to encourage greater usage of the local riel currency. Around 80% of all local transactions are in U.S. dollars versus less than 60% via Bakong. The Bakong tourist app only supports QR code payments in riel.

Today most tourists use a mix of cards and cash, often locally available U.S. dollar notes, which are rather damaged. Credit cards are accepted at 55,000 outlets compared to 3.3 million locations that support the KHQR codes used in Bakong, including small stalls.

Tourists can download the app and register via email. Currently they have to top up at banks and hotels, with the ability to enter card details via the app coming soon.

With this level of identity verification, tourists can spend the equivalent of up to $1,000 a day, with a $3,000 limit after verifying their identity in person. The Post implied that hotels and travel agents can perform the verification with a passport ID check.

On departure, the remaining balance can be converted at a bank, given to a local charity, or used at other tourist destinations in Thailand, Laos, Vietnam and other jurisdictions. We’d observe that using Bakong overseas will be subject to a foreign exchange spread at the very least. However, these countries also top the list for foreign arrivals into Cambodia.

Additional integrations with Malaysia and South Korea are meant to go live in the next couple of months. The central bank has also inked collaborations with China, India, Singapore and Japan for cross border payments. Japan’s Soramitsu is the technology provider for Bakong.

While many treat Bakong as a CBDC, it’s not. In fact, it’s a tokenized deposit solution designed by the central bank.

Bakong tourist app benefits

There are several benefits of the Bakong tourist app. The stated goal of local currency usage means the banks and central bank effectively get foreign currency, while traders get more local currency. Other than that, the central bank mentioned the convenience for tourists and the avoidance of tatty dollar notes.

We see a few additional benefits. For the 55,000 outlets that support cards, it can save them expensive merchant fees charged by Western credit cards. For the central bank, it helps to provide greater visibility into economic activity with tourism making up more than 18% of GDP in 2019.

A simple survey at airport departures can help it get a sense of the ratio of tourists that use the app. Otherwise, with a large proportion of cash transactions, it’s hard to see what’s really happening in the economy.

The data could potentially be used for tax purposes, but as soon as that happens, Bakong usage could decline. Getting a picture of economic activity is a big win on its own.

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

INDIA's CRYPTO FUTURE hinges on gov’t consultation paper

India’s Department of Economic Affairs’ consultation paper is expected to be a watershed moment for crypto regulation in the country, potentially setting the stage for future legislation.

India’s cryptocurrency landscape could be about to change as the Department of Economic Affairs (DEA) prepares a key consultation paper on cryptocurrency legislation.

According to local media, the paper, which is expected in September or October, will invite feedback from various stakeholders, with the government playing an active role in the direction of digital currencies in India.

India’s crypto conundrum

The paper, led by a panel chaired by the secretary of the DEA, represents a significant step in India’s ongoing effort to balance innovation and regulation in its rapidly evolving crypto sector.

The release comes at a time when global scrutiny of cryptocurrencies is intensifying, particularly in light of the G20 nations’ unified approach to regulation, as highlighted by Indian Finance Minister Nirmala Sitharaman at a meeting of the group of nations in October 2023.

India, which has already implemented a stringent tax regime on cryptocurrency transactions, has taken a cautious approach to regulation. The 30% tax on unrealized crypto gains and a 1% tax deducted at source implemented in April 2022 marked the government’s first major move toward imposing some control over the crypto market.

However, despite the measures, the Indian government has refrained from regulating the sale and purchase of cryptocurrencies, focusing instead on curbing crypto-related money laundering and terrorism financing.

DEA paper to address regulatory concerns

The DEA’s forthcoming paper is expected to address the broader concerns surrounding the regulation of crypto assets, including those raised by the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI).

In May, SEBI suggested a multi-regulatory approach, wherein different aspects of cryptocurrency trading would be overseen by various financial authorities. This fragmented approach underscores the complexity of regulating a technology that crosses traditional financial boundaries and poses unique challenges.

On the other hand, the RBI has consistently warned of the macroeconomic risks posed by digital currencies. The central bank’s stance reflects deep concerns about the potential impact of cryptocurrencies on India’s economic stability.

This caution is mirrored in the government’s recent actions against offshore crypto platforms and digital asset service providers, including a high-profile ban on Binance, the world’s largest cryptocurrency exchange.

Despite this, Binance managed to reestablish its presence in India by registering with the Financial Intelligence Unit, even as it faces a hefty $86 million tax demand from Indian authorities.

@ Newshounds News™

Read more:  Coin Telegraph

~~~~~~~~~

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Iraq News Highlights and Points to Ponder Late Friday Evening 8-23-24

Economist Points To A “Solution” That Will “Lower” The Dollar Exchange Rate

Baghdad Today – Baghdad  Today, Thursday (August 22, 2024), Mustafa Akram Hantoush, an expert in economic and financial affairs, commented on the reasons for the fluctuations in the dollar exchange rate in the Iraqi markets.

Hantoush told Baghdad Today, "The parallel market needs to be dismantled in order for the exchange rate to decrease.

Previously, there were solutions to the issue of cigarettes and gold, and the tax was reduced and the merchant was allowed to buy through the platform again, and the exchange rate stabilized at 145 thousand dinars."

He added, "We have small traders who do not have a facilitating mechanism, and we have trades such as gold and cleaning materials that have not been processed, and we have huge trade with Iran and Syria worth millions of dollars, and these can be processed by giving them currency or gold," stressing that "most countries have solved the problem of trade with Iran, despite the American sanctions imposed on them, and solved the problem of travel to those countries."

The dollar exchange rate in the parallel markets rose again, as the markets recorded prices close to 150,000 dinars for every 100 dollars, even though the Central Bank of Iraq sells it at 1,320 dinars for every one dollar.

With the government's efforts to control prices in parallel markets, commercial markets witnessed a decline in the exchange rate in recent weeks, but it rose again, which indicates an economic problem that is still present in the country.

In response, parliamentarians raised a movement to question the governor of the Central Bank within the legislative dome, as the Finance Committee in the House of Representatives, on Sunday (August 4, 2024), directed a request to the Presidency of Parliament to question the governor of the Central Bank .

A document signed by the members of the Finance Committee, received by Baghdad Today, stated: “We, the members of the Finance Committee listed below, are the signatories for the purpose of hosting the Governor of the Central Bank due to a major defect in the management of the bank .”

The document added: "Therefore, we demand that the Governor of the Central Bank be questioned in the nearest session, in accordance with the applicable articles of the constitution and internal regulations."   LINK

Economist Puts “Extortion, Bribery And Smuggling” As The Main Causes Of Dollar Exchange Rate Fluctuations

Posted On 2024-08-21 By Sotaliraq  Economic researcher Diaa Al-Mohsen placed the blackmail, bribery and smuggling operations carried out by dollar dealers who are unable to disclose the sources of their money as the primary reasons for the fluctuation of the dollar exchange rate in local markets.

Al-Mohsen explained that “the old authority is still struggling to address the issue of the dollar exchange rate. All the measures it has taken since taking over the management of the Central Bank barely touch on the real problem that led to these increases, which in one way or another had a major impact on the economic situation of the Iraqi family.”

He noted that “the Iraqi market depends entirely on securing its needs through imports that eat up all the revenues generated from Iraqi oil sales.”

In an interview with Al-Mada, Al-Mohsen pointed out that “there are many reasons for the fluctuation of exchange rates other than the above, as many dealers do not enter the dollar for reasons related to the nature of the money they obtain (the national currency).

Some obtain the Iraqi dinar through bribery, others obtain it through blackmail, some of them deal in drugs and human organs, and many others cannot disclose the sources of their money or the final beneficiary of the process of sending it abroad, which exposes them to many legal problems and may expose them to penalties according to Iraqi law.”

He pointed out that “these people are forced to go to the black market to request dollars, and thus the exchange rate of the dollar against the Iraqi dinar rises to increase the demand for the dollar.

We should not forget that there are those who smuggle dollars by tampering with the documents for importing goods, and this tampering occurs at border crossings, and in the end the country is the biggest loser and behind it the ordinary citizen.”

Regarding the dominance of the dollar, the economic researcher continued, “There does not seem to be a glimmer of hope on the horizon to get rid of the dominance of the US dollar as long as the bank’s management insists on keeping the Iraqi economy revolving in the orbit of the US dollar.

If there was a real administration working for the benefit of the national economy, it would have done everything in its power to diversify the sources of currencies it deals with, which is what the current administration does not want.”

He continued, "I believe that the government should seriously consider activating the economic sectors, especially with the Central Bank of Iraq talking about reserves exceeding $115 billion. It is possible to simplify the procedures for granting loans to project owners who have feasibility studies for the projects they want to implement that are in the interest of the Iraqi economy, and grant them soft loans in exchange for the project being the collateral, to reduce the gap between market requirements and imports, and to bridge this gap by increasing local production to cover the needs of the local market and by relying on modern technology in relation to industries, and by relying on modern agricultural techniques in relation to agriculture."

 He stressed, "Only here will we have put the Iraqi economy on the right path, and as for words other than what we said, they will be nothing more than plowing the sea."

The dollar exchange rate in the parallel markets in Iraq rose again, as the dollar price recorded an increase with the closing of the Al-Kifah and Al-Harithiya stock exchanges to reach 149,300 dinars for every 100 dollars, while it recorded a decrease last Saturday with the closing of the Al-Kifah and Al-Harithiya stock exchanges to reach 149,550 Iraqi dinars for every 100 dollars.  LINK

Is Iraq Heading Towards Printing New Paper Currency?

Money and business   Economy News – Baghdad  Committee member Moeen Al-Kazemi said in a statement followed by "Al-Eqtisad News": "There is no intention to print new paper currency at the Central Bank," noting that "the Ministry of Finance began funding ministries and governorates with salaries two days ago."

He added that "the cash mass required monthly to pay employees' salaries is estimated at four million employees and four million beneficiaries of the Retirement Authority and two million social care, which is approximately 7 trillion and 500 billion dinars."

 He continued that "this quantity is prepared monthly and there is no shortage in this aspect, considering that the current export is approximately 3 million and 400 thousand barrels of oil at a price of more than $ 75 per barrel."

He explained that "providing the necessary liquidity is done by the Central Bank and delivered to the Ministry of Finance, which in turn delivers these numbers and the cash mass to the ministries and governorates, and there is no acute problem regarding cash liquidity." 360 views  Added 08/22/2024 - https://economy-news.net/content.php?id=46608

Parliamentary Finance: Iraq Needs More Than 7 Trillion Monthly To Finance Salaries

Economy    22:03 - 2024-08-22  Member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, announced today, Thursday, that the Ministry of Finance needs more than 7 trillion dinars per month to finance salaries in Iraq.

Al-Kadhimi explained in a press interview that "the Central Bank of Iraq continues to provide cash liquidity to the Ministry of Finance, which in turn provides it to citizens directly through the disbursement of salaries, loans, and financing of projects."

He continued, "the Ministry of Finance needs more than 7 trillion dinars per month in cash to finance the salaries of employees, retirees, and beneficiaries of the social protection network."

Al-Kadhimi stressed that "employees' salaries are fully secured and there is no delay," noting that "the Central Bank provides cash liquidity to the Ministry of Finance periodically to disburse employees' salaries on time."  https://kirkuktv.net/AR/Details/22025

Oil Revenues Under The Microscope Of The Extractive Industries Transparency Authority

Economic  08/22/2024  Employing oil revenues to achieve effective economic development was the focus of discussion among economic experts participating in the workshop to discuss the performance evaluation reports of the Extractive Industries Transparency Authority.

The attendees focused on the extent to which oil revenues contribute to achieving sustainable development that provides a decent life for society and contributes effectively to eliminating poverty.

The motives for issuing these reports also come from the fact that Iraq is the third richest country in the world in terms of abundant natural resources.

Oil expert Dr. Ali Nima said: Iraq joined the Extractive Industries Transparency Initiative in 2011 and issued 13 reports, and the 14th report is under completion.

He pointed out that the initiative has evolved from what it was and has now focused on where the revenues are invested? How much?

Where were the quantities of oil sold and the prices, in addition to the contracts and how are they organized?

He pointed out that the report issued is extremely important as it contains accurate information about all aspects of this sector, oil sales operations from SOMO and the Oil Products Distribution Company. The report also includes production quantities according to each company and the average export price in Europe, America and Asia, and how prices are compared.

Nima pointed out that the issue of social benefits of oil companies towards local communities has witnessed development in this regard, and the (benefits) are now directed to sectors that truly serve those areas, raise the level of services provided to the local community, and make it feel the presence of real support.

Adnan Bahiya, a specialist in transparency affairs in extractive industries, said: The main objective in preparing transparency reports in extractive industries is to show the extent to which oil wealth contributes to achieving real, sustainable development.

He pointed out that the motives for issuing these reports come from the fact that Iraq is the third richest country in the world in terms of abundant natural resources that have not reflected their positive impact on society and the economy in general.

Rather, we find poverty rates in the country varying from one governorate to another, and this was not supposed to happen in a country like Iraq, as we find poverty rates in Basra Governorate reaching 15%, in Kurdistan 6%, and in other governorates exceeding 30% despite the existence of a large amount of wealth in Iraq.

Bahiya stressed the necessity of employing financial revenues in real development that contributes to raising the percentage of the national product and not going to easy revenues that come through taxes and raising their percentages or their experience from this form of revenue, indicating that Iraq is a country capable of rising strongly and creating real sustainable development and that this matter requires a real and effective will.

Bahiya stated that the mission of the Transparency Commission is to clarify the paths of financial revenues, as Iraq cannot be a country rich in resources and suffer from an economic decline in many aspects of the economy.

Bahiya sees the necessity of working towards a real direction towards sustainable development through a serious and gradual approach to the sectors that have the elements to start the renaissance, as there are natural and human resources in Iraq that can be employed in a way that creates the highest levels of benefit.   https://alsabaah.iq/101529-.html

More News, Rumors and Opinions Friday PM 8-23-2024

TNT:

Tishwash:  Al-Sudani extends an official invitation to the Iranian President to visit Iraq

Iraqi Prime Minister Muhammad Shiaa Al-Sudani sent an official invitation to Iranian President Masoud Pezeshkian to visit Iraq.

In a phone call with his Iranian counterpart, Iraqi Foreign Minister Fuad Hussein conveyed the Sudanese invitation to Pezeshkian to visit the capital, Baghdad, according to what the Iranian Foreign Ministry announced in a report issued by it.

In a phone call yesterday, Thursday, Hussein congratulated Abbas Araghchi on his election as the new Minister of Foreign Affairs in Iran.

The Iraqi Foreign Minister expressed his hope that the countries Iraq and Iran would continue to cooperate and interact closely on various issues related to bilateral relations and important regional and international issues.

In turn, Iranian Foreign Minister Abbas Araqchi stressed the “special” effort made by the new Iranian government and its president, Pezeshkian, to comprehensively expand and deepen relations between the two neighboring and Muslim countries, and thanked the Iraqi Prime Minister’s invitation for President Pezeshkian to visit Baghdad and welcomed it.  link

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Al-Alaq in New York at the end of August.. Will he succeed in lifting the  ban on the sanctioned Iraqi banks?

Washington has sanctioned 32 banks over suspicions of money laundering and smuggling to Iran

The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, intends to visit the US capital, Washington, at the end of this month to discuss lifting the ban on Iraqi banks sanctioned by the US Treasury Department, as well as enhancing bilateral cooperation between the monetary institution in Iraq and the US Federal Reserve.

Al-Alaq's visit to Washington comes at a time when the gap between the official and black market rates for exchanging the dollar against the dinar continues, despite the measures taken by the Central Bank of Iraq over the past months, which it says "contributed to limiting its rise to double," but it is not known whether the visit will witness success in lifting the ban or stabilizing the exchange rate.

 "double penalties" 

 The head of the Parliamentary Finance Committee, Atwan Al-Atwani, had previously confirmed that the fluctuation of the dollar exchange rate creates a state of economic and financial instability, especially with the widening gap between the official selling price of the dollar and the parallel market price. 

Al-Atwani said in a statement on the sidelines of his chairing of the committee meeting that hosted the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, to ​​discuss the monetary policy file in the country, that "the widening gap between the official selling price of the dollar and the parallel market price creates a state of economic and financial instability."

 He stressed that "the stability of the exchange rate is a central issue for the state, as there is a duality in the issue of imposing US sanctions between Iraqi banks and correspondent banks, which requires the management of the Central Bank of Iraq to move effectively and address this crisis, in addition to tightening control over the work of private banks, in a way that ensures the integrity of all their procedures and work."

 Visit to protect the Iraqi banking system

In contrast, the financial advisor to the Iraqi Prime Minister, Mazhar Mohammed Salih, said, “Historically, Iraq has kept its oil receipts account at the Federal Reserve Bank in New York, based on a previous UN Security Council Resolution No. 1483 in May 2003, in addition to the foreign currency reserve account in dollars.”

The US Federal Reserve is the main source of the dollar, meeting Iraq's foreign trade financing needs and facilitating payments for international exchange between our country and the world, according to Saleh.

He continued in his statement to Al-Jabal: "Thus, the upcoming visit of the Governor of the Central Bank of Iraq, Ali Al-Alaq, to ​​New York City, USA, comes to protect the Iraqi banking system and support its stability after 32 banks were banned from dealing in the dollar currency by the monetary authority in the United States for unknown reasons."

He added: "The Central Bank of Iraq, by virtue of its work and responsibility in maintaining the stability of the financial system of Iraq, must negotiate with the American side regarding the issue of banks that are sanctioned or deprived of the dollar to alleviate the severity of the deprivation in a way that enhances the effectiveness of the banking system in supporting development and economic activity," noting that relations between Iraq and the United States are outlined by "the strategic framework agreement signed between the two countries in 2008 and are directed towards many axes that aim to sustain relations between the two parties and strengthen them for the benefit of our country, and that the economic axis and financial and banking cooperation is one of those axes that aim to deepen bilateral relations between the two parties."

Banking sanctions 'no longer justified'

In turn, financial researcher Bassam Raad explained that the upcoming visit of the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, to ​​Washington has “positive effects and aims to achieve Iraq’s financial interests and obtain technical support in the banking field to ensure the success of the monetary policy plan by relying on authorized banks as correspondent banks in foreign transfer operations,” noting that the visit aims “to maintain a bilateral dialogue on possible measures for the purpose of lifting sanctions by the US Treasury Department on banks banned from dealing in the US dollar.”

He stressed in his statement to Al-Jabal that the banks that are banned from dealing in foreign currency (dollars) are currently committed to international standards for combating money laundering and are working to take due care in financial transactions, noting that accordingly, “the sanctions are unjustified, especially after the Middle East and North Africa Financial Action Task Force (MENAFATF) confirmed in May of this year that Iraq is one of the countries committed to the recommendations in the field of combating money laundering and terrorist financing.”  link

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

Frank26  [Iraq boots-on-the-ground report]  FIREFLY:
Mr Sammy [his Iraqi bank friend] said we're going to get massive purchasing power.  But others outside of Iraq, they will make millions.  FRANK:  I know it forwards and backwards, in fact I dream about it!  I know the process.

Militia Man  The non-oil sector is going to be equal to or superior to Iraq's oil income.  It's just the way it is.  They have so much wealth in this country and there's going to be so much demand for the dinar..It's going to be a massive change to this country.  The Development Road Project is massive... [it's] fully underway...It's evidence they're taking
Iraq international.  It's not stopping.

MASSIVE WEALTH TRANSFER IS ABOUT TO HAPPEN! THE FED. IS OPENING UP THE FLOODGATES.

Greg Mannarino:  8-23-2024

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

Federal Reserve Chair Jerome Powell on Rate Cuts: ‘The Time Has Come & Direction Is Clear’

Kitco News:  8-23-2024

Federal Reserve Chair Jerome Powell gave his annual speech at the Jackson Hole Symposium 2024. “The time has come for policy to adjust,” said Powell, emphasizing that the timing and pace of rate cuts “will depend on incoming data, the evolving outlook, and the balance of risks.”

He also noted that the Fed does not seek further cooling in the labor market conditions, given his confidence that inflation is on a sustainable path back to 2%.

Powell admitted that the past four years tested the limits of their knowledge, adding that they are open to criticism and new ideas. This clip offers highlights from Powell’s speech.

https://www.youtube.com/watch?v=raChvmmj3YM

Seeds of Wisdom RV and Economic Updates Friday Afternoon 8-23-24

Good Afternoon Dinar Recaps,

Fed Chair Jerome Powell: Time Has Come for Policy to Adjust

Bitcoin rose in the immediate aftermath of his remarks at the Fed's Jackson Hole conference.

As expected, Jerome Powell indicated that a rate cut is coming in September

Bitcoin and traditional markets at least initially have moved sharply higher
Investors will now focus on whether the initial rate cut will be 25 or 50 basis points

After a long wait, central bank rates in the U.S. now appear certain to be headed lower in September after Jerome Powell said the "time has come" for an easing in monetary policy.

"My confidence has grown that inflation is on a sustainable path back to 2 percent," said Powell in his keynote address at the Kansas City Fed Jackson Hole Symposium.

 "The labor market has cooled considerably from its formerly overheated state," he continued. "We do not seek or welcome further cooling in labor market conditions."

"The time has come for policy to adjust," added Powell. "The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks."

Though markets fully expected Powell to indicate that a rate cut was coming at the Fed's September meeting, the tone of his remarks likely leaned a bit more dovish than anticipated. In the minutes following the release of his speech, bitcoin (BTC) added more than 1% to $61,900.

A check of traditional markets finds big gains as well: The Nasdaq is higher by 1.7%, while the S&P 500 is up 1.2% and gold has climbed 1%. The 10-year Treasury yield has dipped five basis points to 3.80% and the U.S. dollar index has fallen 0.6%.

After years of near-zero Fed policy rates, the U.S. central bank in early 2022 embarked on a long series of rate hikes, eventually taking its fed funds rate up to the 5.25%-5.50% range in 2023.

Since, it's been a waiting game, with the Fed wanting to see crystal clear signs that inflation was meaningfully slowing to its 2% target before moving to begin trimming rates. That day surely has now arrived.

The question going forward will be if the Fed cuts the fed funds rate by 25 or 50 basis points at its mid-September meeting. Markets continue to lean towards 25 basis points, but the chances of a 50 basis point move have grown to 32.5% currently from 24% one day ago, according to CME FedWatch. There remain some key economic reports between now and that September decision – August's employment and inflation numbers among them – which should be key to Fed's ultimate decision.

@ Newshounds News™

Souece:  CoinDesk

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U.S. sanctions over 400 entities and individuals for aiding Russia’s war effort, including Chinese firms

U.S. officials have repeatedly warned China about its support for Russia’s defense industry and have issued numerous sanctions aimed at restricting Moscow’s access to critical technologies.

The latest measures target companies in China involved in shipping machine tools and microelectronics to Russia, as highlighted in a State Department fact sheet covering sanctions against 190 entities. The Treasury Department imposed additional sanctions as part of this broader effort.

Sanctions were also aimed at stifling Russia’s energy sector, with actions taken against firms in Turkey, the United Arab Emirates (UAE), and Central Asian nations believed to be assisting Russia in evading existing sanctions.

“Today’s actions hit Russia where it hurts – degrading its ability to generate revenue through its energy projects and disrupting its acquisition of material to supply its war machine,” said Aaron Forsberg, director for economic sanctions policy at the State Department.

The sanctions come as the war in Ukraine escalates, following Ukraine’s August 6 military offensive in Russia’s Kursk region. Despite some recent successes, Ukrainian forces continue to face pressure from advancing Russian troops in eastern Ukraine.

Among those sanctioned is the import-export division of China’s Dalian Machine Tool Group, which allegedly supplied $4 million worth of dual-use items to Russian firms. China denies providing weaponry to Russia but defends its trade relationship with Moscow as normal.

Washington's measures also target companies supplying components for Orlan drones, used by Russia in Ukraine, and firms involved in energy projects like the $21 billion Arctic LNG 2 initiative.

This project has already been hit by previous Western sanctions, limiting its access to ice-class tankers. Additional sanctions were imposed on UAE-based White Fox Ship Management, which the U.S. says acquired four tankers to transport liquefied natural gas (LNG).

@ Newshounds News™

Souece:  Badlands Media

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Tether shuns blockchain launch, cites market concerns

Tether’s decision to avoid launching its blockchain stems from the crowded market and strategic alignment with existing platforms.

Tether, the issuer of the world’s largest stablecoin, USDT, has calculated to forgo its own blockchain launch, citing market saturation and strategic concerns.

According to an interview with Bloomberg News, the company’s CEO, Paolo Ardoino, explained that the stance comes from analyzing the blockchain space and a crowded market.

Ardoino stated that the firm launching a blockchain might not be the “right move” since “very good blockchains” are already available to the public.

Market saturation

In the interview, Ardoino noted that blockchains are becoming increasingly commoditized, with many offering similar functionality to users.

As such, he explained that the firm is satisfied with the remaining blockchain as “agnostic” as long as USDT  trading retains peak sustainability and security using blockchains as “transport layers.”

In a YouTube interview with Unlock Blockchain, Ardoino explained that Tether is “a product market fit.”

“We created the entire stablecoin market in 2014. There was no stablecoin before us."

Tether Aptos expansion

On Aug. 19, Tether launched USDT on the Aptos blockchain to reduce transaction costs and improve global digital currency accessibility.

With the new integration, the company aims to leverage Aptos’ speed and scalability to provide users with gas fees that cost “only a fraction of a penny.”

The announcement by Tether follows the Aptos blockchain, witnessing significant growth and a “record-breaking” 157 million transactions in a single day in May.

Launch of dirham stablecoin

On Aug. 21, Tether partnered with the United Arab Emirates’ Phoenix Group and Green Acorn Investments to launch a dirham-backed stablecoin.

The new stablecoin aims to digitally represent the dirham currency, “fully backed by liquid UAE-based reserves” while adhering to Tether’s “transparent and robust standards.”

This expansion into the UAE market is expected to offer users a cost-effective method for accessing “the benefits of the AED.”

@ Newshounds News™

Source:  CoinTelegraph

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