Seeds of Wisdom RV and Economic Updates Monday Afternoon 9-2-24

Good Afternoon Dinar Recaps,

This Week in AI: OpenAI signs landmark AI deal with US

OpenAI is preparing to raise its next funding round, seeking to secure billions of dollars at a $100 billion valuation. Tech giants like Microsoft (NASDAQ: MSFT), Apple (NASDAQ: AAPL), and Nvidia (NASDAQ: NVDA) are rumored to be interested in participating.

Each of these companies is no stranger to OpenAI:

▪️Microsoft has been a primary investor, owning a 49% share of the company thanks to its $13 billion investment in 2019.

▪️Apple partnered with OpenAI in June to use its models to power upcoming AI features.

▪️Nvidia, the dominant chipmaker, provides OpenAI with the infrastructure it needs to train and run its models.

Although OpenAI’s ChatGPT remains the market leader, with hundreds of millions of monthly users, the company has yet to turn a profit from its AI products and services. Moreover, OpenAI must continue spending billions to stay competitive and maintain its market leadership.

Rumors suggest the company is on track to lose $5 billion this year from its AI operations, making it unsurprising that OpenAI needs to raise significant capital to keep the business going.

Google’s Imagen 3 relaunches with enhanced AI accuracy and ethics

Google (NASDAQ: GOOGL) announced that it would reintroduce its image generation AI, Imagen 3, into its products, starting with Gemini Advanced.

Google’s AI image generation tool was previously operational but was pulled in February following incidents where the AI overcompensated for race and ethnicity when generating images of people.

 For example, when prompted to produce an image of the four founding fathers of the United States, Imagen returned an output featuring diverse individuals who were not the founding fathers.

These incidents sparked discussions about Google’s AI being overly concerned with ethics, bias, and censorship, leading the company to suspend its model from generating images of people.

All AI models walk a fine line between ethics and bias, especially regarding race and ethnicity. It’s more common for AI to exclude racial and ethnic diversity in outputs, but Google’s first iteration did the opposite, creating inaccurate outputs due to overcompensation.

As Google reintroduces Imagen 3, it will be interesting to see how the company addresses these challenges and whether the new version of its AI can strike a better balance between inclusivity and accuracy. People are likely to stress-test this model in the same areas as before, pushing it to its limits to see how well it handles these nuances.

Nvidia stock dips despite beating earnings: Has the AI boom peaked?

Nvidia recently held its latest earnings call, surpassing analyst expectations on several fronts. However, despite beating expectations, the company’s stock closed roughly 8% down the following day.

Nvidia’s forecast that next quarter’s gross margins might fall short of analyst estimates could have contributed to this decline. In contrast, others believe the dip reflects investors’ unreasonably high expectations for Nvidia, which are becoming increasingly challenging to meet.

The question now is whether this decline signals that Nvidia has peaked and is entering a period of cooling off. Linear growth typically doesn’t continue forever, and Nvidia has had a historic run during the AI boom, supplying nearly 90% of the chips companies need to train and run their AI models.

Even Nvidia seems aware that its winning streak might be cooling off, as reflected in its forecast for the next quarter.

Amazon set to launch AI-powered Alexa

Amazon (NASDAQ: AMZN) is reportedly gearing up to launch an AI-enhanced version of its home assistant, Alexa. 

The upgrade, expected in October, will include features such as AI-generated summaries of news articles tailored to users’ preferences.

It will also introduce voice recognition capabilities, allowing Alexa to differentiate between speakers and provide personalized experiences, such as finding recipes suited to individual tastes or tailoring shopping experiences to the user.

The AI-enhanced Alexa will only be available to subscribers of a new service, which would help offset the costs associated with Alexa. The device has allegedly contributed to Amazon’s devices department losing billions of dollars, as most Alexa users opt for the free version after purchasing the physical device.

While we’ve seen several companies attempt to create AI wearables, there haven’t been as many efforts to develop in-home AI assistants. 

Due to their reliance on voice commands, existing home assistants have struggled to gain traction, often proving awkward to use. These devices tend to add more friction to users’ workflows rather than simplifying them.

However, if I had to guess, the lack of AI features probably isn’t the main reason these devices haven’t taken off, so I am doubtful that these new AI capabilities will be the boost products like Alexa, Google Home, or Apple’s Siri need to regain popularity.

OpenAI and Anthropic establish landmark AI safety partnership with US government

In a first-of-its-kind agreement, OpenAI and Anthropic have signed a deal with the U.S. Artificial Intelligence Safety Institute at the Department of Commerce’s National Institute of Standards and Technology (NIST).

This agreement grants the U.S. AI Safety Institute—which was established via President Biden’s executive order on AI—access to major new models from each company before their release.

Additionally, the companies will collaborate with the institute on research to evaluate AI models’ capabilities and safety risks and explore methods to mitigate those risks.

It wouldn’t be surprising to see more AI providers follow suit and partner with government entities. The government tends to scrutinize AI systems, particularly regarding their safety and potential societal risks. A partnership of this nature signals that the AI provider is at least attempting to make its systems safer and more secure.

These collaborations probably give AI companies some breathing room when releasing models that might otherwise face government scrutiny.

By addressing potential issues early in the process, thanks to early access and the other benefits that sometimes come with a government partnership, AI providers can save time, money, and trouble, allowing them to refine their models before launching them in a way less likely to lead to regulatory concerns.

In order for artificial intelligence (AI) to work right within the law and thrive in the face of growing challenges, it needs to integrate an enterprise blockchain system that ensures data input quality and ownership—allowing it to keep data safe while also guaranteeing the immutability of data

@ Newshounds News™

Source:  CoinGeek

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Elon Musk Considers Dogecoin for Tesla Payments Again

▪️Elon Musk hinted at Dogecoin's return as a Tesla payment option.

▪️Judge dismissed a $258 billion lawsuit against Musk and Tesla.

▪️DOGE's price dropped over 2% in the last 24 hours.

Tesla CEO Elon Musk indicated the potential return of Dogecoin as a payment option for Tesla products. This statement came just two days after he and Tesla successfully dismissed a June 2022 lawsuit accusing them of defrauding investors through a Dogecoin pump-and-dump scheme.

 On August 31, Musk responded affirmatively when asked if anyone else wanted Tesla to bring back Dogecoin as a payment option for products.

▪️What Is Happening on the Dogecoin Front?
▪️Details on the Matter

What Is Happening on the Dogecoin Front?

Tesla previously accepted Dogecoin for products in January 2022, but it is unclear if the company will reimplement this feature. 

At that time, the company stated that only Dogecoin would be accepted and warned that other crypto assets sent to them would not be returned. However, the Dogecoin payment option later disappeared without any explanation.

Given Musk’s known support for Dogecoin, a return would not be surprising. Earlier this year, Tesla hinted at the possibility of accepting Dogecoin as a payment method. Musk has consistently expressed his fondness for DOGE and frequently influenced its price movements with his actions.

Musk’s defense of Dogecoin has also led to legal challenges. On August 29, Judge Alvin Hellerstein dismissed a $258 billion class-action lawsuit against the billionaire and his company.

The lawsuit accused Musk and Tesla of manipulating Dogecoin’s price and claimed that Musk used his influence, including his appearance on Saturday Night Live, to affect the token’s value.

Details on the Matter

Judge Hellerstein ruled that Musk’s statements about Dogecoin were enthusiastic and exaggerated rather than factual claims that could mislead investors. He concluded that no reasonable investor would rely on these statements and that the pump-and-dump allegations were unfounded:

“As for the alleged pump-and-dump scheme by Musk and Tesla, it is impossible to understand the plaintiffs’ claims of market manipulation, pump-and-dump scheme, breach of fiduciary duty involving insider trading, or state law claims.”

Despite these developments, DOGE’s price dropped by more than 2% in the last 24 hours to $0.099113 at the time of writing, according to Tradingview data. This decline reflects a broader market trend, with significant crypto assets like Bitcoin experiencing substantial losses during the reporting period.

@ Newshounds News™

Source: Coin-Turk

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Iraq...The Drama Of Corruption And Its Danger To Society

Iraq...The Drama Of Corruption And Its Danger To Society

 Iyad Anbar    Corruption scandals in Iraq are very similar to television drama stories, as they both rely on the plot of the novel that makes the viewer follow the events and their developments with passion and wait for their endings.

This is how we in Iraq coexist and interact with news of corruption, its personalities, and its details, and it is never absent from the events of news bulletins and the topics of political talk shows.

In addition, we have come to live with it in every detail of our daily lives, including poor services, deteriorating health conditions, and the routine of daily dealings between citizens and state departments and institutions.

 The latest dramatic series of corruption scandals is the return of the “Theft of the Century” case to the forefront, and  the story of its return began with August 14 being set as the date for the trial of the main accused in the case, Nour Zuhair, who failed to appear, so the trial was postponed to the 27th of the month..

 Nour Zuhair, the hero of the drama story of the theft of tax deposits, which became known as the “theft of the century,” chose to attend a television interview with the Iraqi “Al-Sharqiya” channel, to talk about his “oppression” and his denial of the existence of theft or corruption, and described the issue as a “lie.”

But he did not deny the bribes he offered to politicians, media figures, and state employees, confirming to us that this routine in Iraq is the basis of corruption.

 The hero of the series “Theft of the Century” wants to keep the eyes of the Iraqis on monitoring his news, after he circulated news about his being in a traffic accident in Beirut, and  we are preoccupied with interpretations of the “accident,” especially with the trial date approaching.

 Until it became clear that there was no accident, and that it was fabricated to escape the trial date, according to press follow-ups.

 The irony is that we have become so preoccupied with following news of corruption that we have become accustomed to hearing about thefts and corruption deals worth millions and billions of dollars.

 We live in a country where millions of citizens live on social welfare benefits, and these terrifying numbers are close to the budget of countries such as Jordan, Syria and Lebanon.

 Prime Minister Muhammad Shiaa Al-Sudani was more frank and clear when he stated at the beginning of his assumption of office, saying that

 “any talk about fighting corruption is absurd and a joke on the chin” if there is no accountability and recovery of funds from those involved in the “theft of the century” scandal.

 It seems that the Prime Minister's statement is the most credible, because so far there has been no resolution of any of the corruption files, and no prosecution of any of those involved.

 Despite this statement, Al-Sudani and his government were involved in the “theft of the century” and pledged to recover the money stolen from the state treasury.

 While this file was in the hands of the judiciary, the first accused (Nour Zuhair) is behind bars.

 Let the Sudanese involve himself in this file to market himself as the one who resolved the most dangerous corruption file in the history of the Iraqi state, and perhaps the largest theft of state funds, and that he was the one who achieved an achievement by settling it.

It later became clear that Nour Zuhair was outside Iraq, without any restrictions on his movement.

He moves between countries and appears in a television interview to describe the theft as “the lie of the century,” that he is a victim of “dirty blackmail,” and that he offered bribes worth millions of dollars. Although he "did not steal state money."

 The television interview in which the main accused of the theft of the century appeared, talking about billions of dinars. It is nothing but a scandal for the entire government system.

 How could this money be vulnerable to theft or fraud, if corruption did not ravage the entire body of the political system?

 This corruption has spread and all actors in the authoritarian system have become involved in it, and are even its founders.

Hence, we no longer need to diagnose and describe corruption by political figures who were directly and indirectly involved in managing the corruption system, and who legitimized the plunder of state resources, which became like a gold mine, with mafias and gangs competing to plunder as much of it as possible.

 Corruption in Iraq reflects a struggle to share the rentier economy between political parties and forces of power and influence, and  thus it has become spider webs.

 It does not stop at the borders of figures in high positions in the state, but rather extends to include political mafias, and figures outside the political description and social classes, who work according to personal relationships with influential government or party figures, or they work at the addresses of “economic offices” affiliated with political parties or armed militias. .

The corruption drama continues, and from time to time there is a new series.

 The latest of which is the exchange of accusations between the government and the House of Representatives about the existence of manipulation worth 15 trillion dinars, which is equivalent to 10 billion dollars, in the budget tables for the year 2024.

 The government directs an accusation against the Presidency of the House of Representatives that the tables sent by it differ from the copy of the tables sent by the government.

 Hence, the Presidency’s approval of the final budget schedules was delayed due to these differences.

  The government addresses the Presidency of the House of Representatives and confirms the existence of three different copies of the schedules:

 the first is printed on paper, and it has fundamental differences compared to the copy sent by the Council of Ministers.

The second is electronically printed, and has fundamental differences from the Cabinet version and the House of Representatives paper version.

 The issue is not the exchange of communications between the government and Parliament, nor delaying the approval of the budget schedules, the financial allocations of which cannot be released except with the approval of the President of the Republic and their publication in the official newspaper, “Al-Waqa’i al-Iraqiyya.”

 Rather, it is the nature of the relationship between the legislative and executive institutions in managing the state’s resources, which indicates either the presence of manipulation in financial allocations contrary to the will of the government responsible for preparing the federal budget.

 Or there are errors in routine transactions that result in $10 billion, according to statements by members of the House of Representatives.

 In both cases, administrative routine is no different from corruption, because both are manifestations of political corruption.

 Another series of corruption dramas being circulated on news bulletins and social media, its subject is the existence of a “blackmail network” inside the Prime Minister’s Office, where some figures working in important positions in the government palace were arrested and accused of wiretapping the phones of political and security figures, and impersonating politicians and businessmen. And fake news industry.

 Although the judiciary has not resolved these charges, merely acknowledging their existence weakens the government’s credibility in fighting corruption.

 In Iraq, there are official institutions with many names and titles, whose function is to combat corruption, such as: the

      Integrity Commission, the

     Financial Supervision Bureau, the

     Integrity Committee in the House of Representatives, and

     judicial courts specialized in examining corruption cases.

 But corruption in Iraq remains and expands, and corruption has a higher authority than the law that fights it.

There is no country in the world that is devoid of corruption, whether financial or political, but the levels of its presence differ from one country to another.

 When a country like Iraq is at the forefront of the most corrupt countries, here we are faced with a real problem in the political system and the ruling elites that produced this corruption.

 The irony is that everyone agrees on the existence of corruption, and the diagnosis of its causes.

 But there is no clear will to combat it or set limits to it, because everyone has begun to live with it and consider it a natural phenomenon that there is no need to rebel against or fight against.

The danger is not in corruption and its spread, but rather in its penetration into state institutions and its acceptance by citizens and politicians alike.

 Hence, it produces social norms and values, politicians, and a culture that accepts corruption.

 The general rule has become that the corrupt in this country are the majority, and the minority are the non-corrupt.

 Society's view of anyone who holds a political or administrative position is that he is accused of corruption.

 We can imagine the danger to social values ​​when society celebrates the corrupt on official occasions, when they are rotated into high-ranking positions in the state, and the absence of accountability and responsibility for anyone proven involved in cases of theft of public money.

 When there is no accountability for the corrupt, the result is the spread of corruption and the transformation of its personalities into public figures accepted by society.

 As long as the ruling system acknowledges the penetration of corruption into all aspects of the state, and at the same time does not fight it.

 The result is the imposition of corrupt figures as representing the authoritarian system and the political society.     https://economy-news.net/content.php?id=47016     

Economist’s “News and Views” Monday 9-2-2024

The US Dollar is Being DECIMATED And They Have No Idea How To Stop It

The Atlantis Report:  9-2-2024

In this video, we dive deep into the alarming state of the US Dollar and the unprecedented challenges it faces on the global stage.

As the value of the dollar continues to plummet, policymakers are scrambling to find solutions, but are they too late? We'll explore the key factors driving this decline, including economic policies, international competition, and the shifting balance of power in global markets.

 Whether you're an investor, a concerned citizen, or simply curious about the future of the world's reserve currency, this analysis will give you crucial insights into the forces at play and what they could mean for the future of the US economy.

Don't miss this urgent discussion on the potential downfall of the dollar and the ripple effects it could have worldwide.

https://www.youtube.com/watch?v=O9DcbamVyp4

$1.5 Trillion in Debt about to Enter Delinquency

Steven Van Metre:  9-1-2024

In a world that has seen its fair share of economic upheaval, the alarming statistic of $1.5 trillion in debt on the brink of entering delinquency raises concerns that could reverberate through global markets. While many have focused on conventional threats to economic stability, such as inflation and soaring interest rates, this looming crisis remains largely overlooked.

As we delve into the insidious nature of debt delinquency, we uncover why this could be the financial crisis no one saw coming.

Before we dive into the specifics, it’s essential to understand what debt delinquency means. Simply put, it occurs when borrowers fail to meet their payment obligations on loans, credit cards, or any form of credit. When these delinquencies pile up, they create a ripple effect that can jeopardize not only individual financial stability but also the health of entire economies.

The staggering figure of $1.5 trillion primarily encompasses consumer debt in various forms, including credit cards, auto loans, and student loans. Unlike previous financial crises, triggered by subprime mortgages and excessive leverage in real estate, this crisis is rooted in everyday consumer behavior. It reflects a growing trend of individuals and families overextending themselves financially, often relying on credit cards as a lifeline to maintain their standards of living.

As interest rates rise in response to inflationary pressures, many borrowers may find themselves unable to meet their payment obligations. Even a slight uptick in interest rates can result in significant additional costs for those already stretching their budgets thin.

As we face this potential crisis of $1.5 trillion in debt entering delinquency, it’s a wake-up call for individuals, policymakers, and financial institutions alike. While consumer debt has been a topic of concern for years, its impact is now at a precipice.

We must act decisively, prioritizing financial education, promoting responsible lending practices, and fostering an economic environment that supports stability. The financial crisis no one expected may be hiding in plain sight, but together, we can tackle the challenges ahead before it spirals out of control.

Watch the video below from Steven Van Metre for his insights.

https://youtu.be/Qj3FR5XT-LE

BRICS Update: Saudi Sign a $50 Billion Deal with CHINA: What's Next?

Fastepo:  9-1-2024

The United States has been applying considerable pressure on Saudi Arabia to distance itself from China and other BRICS nations due to concerns over geopolitical and economic issues.

 The U.S. is particularly focused on preventing the transfer of crucial technology, infrastructure, and data to China, which could potentially threaten U.S. national security and economic interests.

Nonetheless, Saudi Arabia's recent actions, including the signing of $50 billion in memorandums of understanding with Chinese financial institutions, suggest a clear intent to strengthen its relationship with China.

This development is part of Saudi Arabia's broader strategy to diversify its economic partnerships and reduce its dependence on oil, aligning with its Vision 2030 initiative.

The agreements with Chinese banks aim to enhance two-way capital flows, covering both debt and equity investments, thereby promoting deeper economic integration between the two nations.

Specifically, Saudi Arabia’s investments in China saw substantial growth, highlighted by the PIF's move to sign six major agreements worth $50 billion with leading Chinese financial institutions.

These deals were aimed at enhancing bilateral capital flows, supporting investments in various sectors including technology and infrastructure. This follows the previous year's surge, where investments by Gulf funds in China increased from a modest $100 million to $2.3 billion in 2023, underscoring the rapid intensification of economic ties.

https://www.youtube.com/watch?v=6PjesMs6xaQ

Labor Day Coffee with MarkZ and Militiaman. 09/02/2024

Labor Day Coffee with MarkZ and Militiaman. 09/02/2024

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: Morning Everyone..Are we ready to turn this page???????

Member: forget the page, I want to get rid of the whole book.

Member: I’m ready for the PTB to quit wasting perfectly good 3 day weekends and pull the darn trigger

Member: End this nightmare movie and Let the chips fall where they may…. if these sleeping people aren't awake bye now chances are they might never wake up

Member: Is today the big day Mark?

MZ: There is a lot of chatter about tomorrow being our big day. Guess we will find out then-if not sooner. Today banks are closed.

Member: Today was a workday in the Middle East. No holiday here

MZ: We are hearing all kinds of rumors that everything started ripping yesterday and they are “releasing the hounds of the RV” Tons of rumors. Tons of contacts saying “This is it”    Guess we will find out tomorrow.

MZ: There are a substantial amount of rumors that Indian Nations are about to have funds released to their people…along with alerts for Fines and Penalties, CMKX, and Prosperity packages. I am hearing extremely positive things for today and tomorrow on F&P’s.

MZ: Stay calm. It’s a 3 day weekend and lots of emphasis being put out there for today. We don’t know if it’s just hopium or its real?   But, I can tell you I’m blown away by the number of people convinced its all about to be seen.

Member: We hear the same story every 3 day weekend.

MZ: That is why I caution you to be calm.

MZ: My Iraq folks are bouncing with anticipation for the next 3 days.

Member: I a hearing the Kurds are thwarting the HCL…Does this affect the RV?

MZ: I hear that is more like a diversion. Just have to wait. .

Member:  Thank you Mark for sharing the rumor. Gives us some hope. Today would be amazing!

Member: Militiaman was excited on his last video

MZ: If you just follow the news from Iraq …there is a lot to be excited about.

Member:  Please please please please pleeeeeeeeeeeeease please..... let's do this!!!!

Member: Looks like Redemption Center Staff not working today???

MZ: I have not been able to reach any redeption contacts…so don’t know what to tell you on that. I have no idea if they were called in to work today or not.

Ember: Maybe that’s good news?

​​Member:  Two of our banks had a parking lot full of employees on Saturday, after being closed to the public!!

MZ: MilitiaMan may be joining us today …They are openly talking about Lower Denominations in Iraq again. Any rumors of cut sheets or currency samples circulating in the banks again …13 banks are set up in Iraq to handle exchanges.

Member: Hoping to retire here soon!

Member: Excited to see what September has in store for us!

Member: I’m not even looking for anything to happen until after the election……hope I’m wrong.

Meber: I’m looking for gold backed currencies and the QFS……then the RV

Member: I hope that this month we dont get the infamous " this has to get done before the end of fiscal year" that we get every september. I'm sick and tired of it.

Member: Yes the US fiscal year starts Oct. 1…..

Member: Mark and MM we love you both for your integrity, honesty and positive energy!!! Thank you!

Member: Good day all! Wishing everyone a safe and happy Labor Day!

MilitiaMan Joins the stream today. Please listen to the replay for his information and opinions

Stacie Z also joins the stream at the end. Please listen to replay for her information

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.

 ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut

THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!

Twitch:   https://www.twitch.tv/theoriginalmarkz

Youtube:     https://www.youtube.com/watch?v=7kq6OWqymbI

Seeds of Wisdom RV and Economic Updates Monday Morning 9-2-24

Good Morning Dinar Recaps,

Hedera’s (HBAR) Daily Transactions Soar 46% as Market Cap Corrects

▪️Hedera’s daily transactions increased by 46% in Q2 2024, driven mainly by the Hedera Consensus Service.

▪️HBAR’s circulating market cap dropped by 29%, but its rank among all tokens improved from 36th to 30th.

According to a report from research firm Messari, Hedera (HBAR) experienced a notable surge in daily transactions during the second quarter of 2024, marking a 46% increase quarter-over-quarter (QoQ).

The total number of daily transactions increased from 90.9 million in Q1 to 132.9 million in Q2, reflecting the network’s increasing usage. The growth was mainly attributed to the Hedera Consensus Service, which constituted 99% of all the activities on the network.

Revenue Climbs as Network Activity Increases

For the second quarter of 2024, Hedera had a very good financial situation in terms of several aspects.

The network revenue, primarily derived from transaction fees, recorded a 26% growth in USD from $1.1 million in the first quarter to $1. 4 million in the second quarter. Regarding HBAR, the revenue also rose by 19% QoQ to 14. 6 million HBAR.

Despite this, the HBAR’s circulating market capitalization reduced by 29% and stood at $2. 7 billion. This decline came after three successive quarters of growth and was partially blamed on a 33% decline in the price of HBAR, which dropped from $0. 11 to $0. 08 during the same quarter.

However, HBAR’s market capitalization ranking rose, climbing six positions from 36th to 30th among all tokens, surpassing other tokens with comparable prices.

The Hedera network also experienced a significant rise in the number of users. The average daily number of newly created accounts increased by 31% QoQ from 8,400 in Q1 to 11,100 in Q2.

 This growth in new accounts was not reflected by the active address activity. The total daily active addresses also declined by 37% QoQ from 16,800 to 10,600. This means fewer accounts were active in making transactions while more accounts were being opened.

Karate Combat League Drives Significant Network Activity
One of the major drivers of activity on the Hedera network in Q2 was the Karate Combat League, a full-contact karate league that integrates blockchain technology into its fan engagement strategy.

The KARATE token allows fans to vote on the outcomes of the matches, and the token is built on the Hedera and Ethereum networks.

In the second quarter, there were several Karate Combat events that happened and this greatly helped in boosting Hedera’s transaction volume. For example, the KC45 event on the 20th of April had 1. 74 billion of KARATE tokens staked on Hedera with 65,300 contributors from Hedera and Ethereum.

The subsequent events like KC46 and KC47 also witnessed good voter turnout, with KC47 held on June 28 involving 117800 unique voters and 3. 17 billion KARATE tokens voted on Hedera.

At the time of writing, HBAR has seen a 21% decline over the past month and is currently trading at $0.051. This can be attributed to the general market risk, which has been accelerated by the fluctuation of major cryptocurrencies such as Bitcoin and Ethereum.

@ Newshounds News™
Source: Crypto News Flash

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DONALD TRUMP UNVEILS PLAN TO MAKE USA THE ‘CRYPTO CAPITAL OF THE PLANET’

▪️Donald Trump aims to make the US the “crypto capital of the planet” if elected.

▪️His sons’ World Liberty Financial may involve real-world assets and tokenization.

▪️Trump has promised a Bitcoin reserve and to replace SEC chair Gary Gensler.

In a bold move that could reshape the landscape of digital assets in the United States, former President Donald Trump has announced his intention to establish the US as the “crypto capital of the planet” if elected.

Trump’s announcement has ignited curiosity and speculation, particularly regarding the World Liberty Financial initiative spearheaded by his sons, Donald Trump Jr. and Eric Trump.

Though details of the World Liberty Financial project remain sparse, early rumours suggest that it may involve real-world assets and tokenization. The initiative’s official Telegram channel, which boasts over 53,000 subscribers, has cautioned crypto enthusiasts to remain vigilant against scams and imitation projects.

Trump’s embrace of cryptocurrency marks a significant shift from traditional political rhetoric. During a May gala, he first presented himself as a champion of the crypto industry, a stance he continued to reinforce at the July Bitcoin 2024 conference. 

There, he promised to create a strategic Bitcoin reserve and to replace Gary Gensler, the current Securities and Exchange Commission chair, a move likely to resonate with crypto advocates.

Amid fluctuating political odds between Donald Trump and Democratic candidate Kamala Harris, the former president’s crypto policies have garnered attention.

Additionally, a Bitcoin bill introduced by Republican Senator Cynthia Lummis from Wyoming has gained traction, aligning with Trump’s vision by proposing a strategic reserve of Bitcoin backed by gold certificates for a two-decade hold.

As the crypto landscape continues to evolve, Trump’s ambitious plans signal a potential shift in US policy that could influence the future of digital assets and blockchain technology especially if Donald Trump were to be re-elected.

@ Newshounds News™

Source: CoinJournal

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CARDANO’S CHANG HARD FORK GOES LIVE, INTRODUCING ON-CHAIN GOVERNANCE

The highly anticipated upgrade turns Cardano's ADA cryptocurrency into a governance token.

Cardano, the layer-1 blockchain launched in 2017 by Ethereum co-founder Charles Hoskinson, activated its highly anticipated “Chang” upgrade on Sunday, marking the ecosystem's long-planned shift towards decentralized governance.

With the Chang upgrade now live, ADA token holders will be able to shape Cardano's future by electing governance representatives and voting on development proposals.

CIP-1694, an official "Cardano Improvement Proposal," describes the new community governance structure and establishes three user-led governance bodies:

the Constitutional Committee, Delegate Representativ es (dReps), and Stake Pool Operators (SPOs). Moving forward, Cardano's three founding entities—the Cardano Foundation, Input Output Global (IOHK) and Emurgo—will no longer have the keys to trigger chain upgrades or "hard forks." Instead, that responsibility will be delegated to the new governance groups.

Cardano is the latest in a string of crypto projects to transition towards a more decentralized structure. The changes bring Cardano further in line with the blockchain industry's decentralized ethos, but they may also be viewed as a way to ward off securities regulators by bestowing ADA with extra utility.

Despite being ranked as the 28th largest blockchain by DeFiLlama, Cardano has consistently drawn attention from the crypto world, not least because of Hoskinson’s colorful personality and routine outspokenness. He originally created the Ethereum blockchain in 2014 alongside co-founders like Vitalik Buterin, but he quickly moved on from the project to build rival Cardano.

Hard forks—significant updates that render older versions of a blockchain obsolete—are a critical part of any blockchain’s evolution. The Chang hard fork is no exception, with its implementation spread across two phases.

The first phase, already live, introduces an Interim Constitutional Committee to temporarily oversee Cardano's governance. This phase is designed to be cautious, limiting the committee’s power to make changes to the blockchain's code while the rest of the ecosystem's governance model takes shape.

, expected to happen in 9The second phase0 days, will fully empower the new governance bodies. “Once everyone is onboard and well-informed, they will be ready to actively participate in governance,” said Giorgio Zinetti, CTO of the Cardano Foundation, in an interview with CoinDesk.

This upgrade is a pivotal milestone in Cardano’s roadmap, marking the beginning of the Voltaire era—a phase focused on achieving full decentralization that has been in the works since Cardano’s inception.

“I would say it is the biggest event in Cardano history, and it really makes us different from many other chains,” Zinetti told CoinDesk.

“I think we are the largest layer 1 with on-chain governance. There are some smaller players, like Tezos and Polkadot, who already have on-chain governance. But if there was a leaderboard, real decentralized layer-1s, we would be number one.”

@ Newshounds News™

Source:  CoinDesk  

Read more:  CoinDesk Aug 20, 2024

~~~~~~~~~

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News, Rumors and Opinions Monday AM 9-2-2024

KTFA:

Clare: Al-Sudani confirms to the consulting company the necessity of meeting the technical and economic needs of the development road project

9/1/2024

Prime Minister Mohammed Shia Al-Sudani received today, Sunday, representatives of Oliver Wyman Consulting Company for the Ministry of Transport.

A statement from his office, received by {Euphrates News}, stated that: "This came within the framework of Al-Sudani's follow-up of the Iraq Development Road project and the progress of work in it, in the presence of a number of advisors."

He added, "The meeting witnessed a review of a number of tracks to follow up on the implementation stages according to the timetable for the sections."

Al-Sudani stressed the "necessity of the consulting body to take into consideration meeting the technical and economic needs of the project, which confirms its pivotal role in the economy of Iraq and the region."  LINK

Clare:  Imposing a curfew in all Iraqi governorates on November 20 and 21

9/1/2024

The Iraqi government decided, on Sunday, to impose a curfew on November 20 and 21 in all regions and cities of the country to conduct the population census.

This came during the chairmanship of Prime Minister Mohammed Shia Al-Sudani of the third meeting of the Supreme Population Council, during which the preparations underway to conduct the general population and housing census next November were discussed and followed up.

The meeting approved a set of decisions that would facilitate the preparation and training process for conducting the census, as follows: Imposing a curfew in all Iraqi governorates on November 20 and 21, to conduct the population census.

It was also decided to address the requirements with the Kurdistan Regional Government of Iraq regarding training statistical personnel for the numbering and enumeration process.

Among the decisions, the Ministries of Education, Higher Education and Scientific Research will support the statistical process by preparing classrooms for training, as well as youth centers through the Ministry of Youth and Sports.

The Council stressed in its decisions the need to expedite the transfer of financial requirements and allocations to finance the census project.

The statement also referred to hosting the head of the General Authority for Statistics and Geographic Information Systems in the meeting of the Supreme Committee for Coordination between the Governorates.

The meeting approved the study of amending the Compulsory Education Law No. 118 of 1976, as well as supporting the executive body for literacy in the governorates, and providing it with the required financial allocation.

It was also decided to adopt the report on the overall procedures and indicators achieved by the sectoral ministries concerned with implementing the recommendations issued by international conferences and national commitments on population issues, issued by the Statistics and Geographic Information Systems Authority in the Ministry of Planning, provided that the report includes appendices that include the most important statistical indicators resulting from the general population census, the social and economic survey of families in Iraq, and the multiple-indicator survey.

Today, Sunday, September 1, the Ministry of Planning began the census and numbering operations, which will continue for two months, in preparation for implementing the general population and housing census, scheduled for November 20, 2024.

The head of the Statistics and Geographic Information Systems Authority at the Ministry of Planning, Diaa Awad Kazim, called in a press conference held yesterday for the Council of Ministers to impose a curfew on the census day in order to complete household data.

Last May, the Iraqi Deputy Prime Minister and Minister of Planning announced commitment to the timelines of the action plan, and the population census will be implemented on its scheduled date of November 20, 2024.

At the end of last May, the Ministry of Planning conducted a pilot census in 86 localities distributed among 18 governorates, 46 in rural areas and 40 in urban areas.

Iraq is preparing to conduct a general population census on October 20 of this year.

According to estimates prepared by the Ministry of Planning, the population of Iraq in 2023 is 43 million people, while the capital, Baghdad, has the largest population according to population projections based on annual estimates.

The Ministry of Planning expects Iraq's population to reach 48 million by 2028.  LINK

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

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

Samson   Article 1:  "The Minister of Finance follows up on the regulation of the work of government banks with the international auditing firm Ernst & Young"  Article 2: "Central Bank contracts with international auditing firm in New York"

Militia Man  You didn't have anybody talking about privatizing the banks 20 years ago...It wasn't in the pipeline.  It's obviously different from 2016.  We don't have ISSI anymore.  It's obviously different from 2018.  Why would they print all that currency in 2018 and then just stop doing it?  ...It's really a complex situation.  It's more than just pushing a button... There was a component of corruption...We all know they're going to have transparency and accountability...With the likes of Ernst & Young involved the world will find confidence...You're going to find big things are underway for this country.

The Collapse of America & Everything Wrong With Society Today (+ A Hopeful Way Forward) | Ray Dalio

Tom Bilyeu:  9-1-2024

Today, we dive deep into the complex dynamics of America's current economic and societal challenges with legendary investor and author, Ray Dalio. In this episode titled "The Collapse of America & Everything Wrong With Society Today (+ A Hopeful Way Forward),"

Tom and Ray explore the precarious state of the U.S. economy, examining the consequences of national debt, the importance of fiscal responsibility, and the geopolitical shifts threatening the dollar's status as the world reserve currency.

Ray Dalio lays out a clear blueprint for navigating these turbulent times, emphasizing the need for financial strength, prudent governance, and social cohesion.

The conversation delves into critical topics such as the devaluation of the dollar, the necessity of a thriving middle class, and the transformative impact of quality education and equal opportunity.

They also discuss intriguing case studies, including Singapore's remarkable rise and the fundamental principles that have guided historically successful nations.

This episode is a must-listen for anyone concerned about the future of America and looking for actionable insights on fostering a more resilient and prosperous society.

Tune in as Tom and Ray tackle the tough questions and offer a hopeful path forward.

https://www.youtube.com/watch?v=S0j8_1t1c1A

“Tidbits From TNT” Monday Morning 9-2-2024

TNT:

Tishwash:  Iraq participates in the meeting of the Arab Economic Council

The Arab Economic Committee is scheduled to begin its work today, Monday, to prepare for the 114th session of the Arab League's Economic and Social Council, which will be held at the ministerial level next Thursday, with the participation of the Minister of Trade, Athir Dawood Salman Al-Ghariri.

Iraq will be represented in the meetings of the Economic and Social Council by two delegations, the first from the Ministry of Labor, which will attend the meetings of the Arab Social Committee, while the second delegation will be from the Ministry of Trade and will participate in the meeting of the Economic Committee.

The Arab Social Committee held its meeting yesterday, Sunday, with the participation of a delegation from the Ministry of Labor and Social Affairs, and a number of decisions were submitted to the Council.
The ministerial meeting of the Economic and Social Council next Thursday, in which the Minister of Trade will participate, will be preceded by a meeting of senior officials in the Council the day after tomorrow, Wednesday.

Assistant Secretary-General and Head of the Social Affairs Sector, Ambassador Dr. Haifa Abu Ghazaleh, stated that the 114th session of the Economic and Social Council began its work with the Council's Social Committee.

Abu-Ghazaleh added that the Social Committee reviewed the report of the Secretary-General of the League of Arab States, which included all the efforts and activities that took place between the two sessions of the Council in various sectors of joint Arab social and development work.

She continued that the report focused on continuing to implement the social dimensions of the 2030 Sustainable Development Plan, supporting vulnerable groups in society, and other activities related to persons with disabilities and the elderly, health, youth, women, family and childhood, population policies, civil society and human rights, migration and expatriates, education, scientific research, culture and dialogue of civilizations.  link

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

Tishwash:  Schlumberger signs Iraq Training Agreement

The Arab Institute for Oil and Schlumberger have signed a cooperation agreement at the Iraqi Ministry of Oil, focusing on training and development for the sector's workforce.

Bassem Mohammed Khudair, the Deputy Minister for Extraction Affairs, stated that this memorandum aligns with the ministry's strategy to enhance technical and engineering skills.

Schlumberger's Executive Director in Iraq, Waseem Al-Azmeh, emphasized the company's commitment to using its expertise to develop the skills of Iraq's oil sector employees.

Hisham Yass, General Director of the Training and Development Department, highlighted that this partnership is a significant addition to the ministry's training program, to be implemented through the Arab Institute for Oil, which is responsible for certifying training programs.

Ghaleb Mohammed Ali, the Deputy Director of the institute, expressed hope that this collaboration will help achieve the ministry's goals in improving the performance of its workforce.   link

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

Tishwash:  The Central Bank of Iran sold 320 billion Iraqi dinars to visitors

Iranian media revealed, today, Sunday, that 1.6 million Iranian visitors purchased the Iraqi currency in Iran before heading to Iraq to perform the Arbaeen pilgrimage.

Tala website reported that from August 7 to September 1, more than 1.6 million people received the "Arbaeen Coin", at a rate of 200,000 Iraqi dinars for each visitor, to meet their needs in Iraq.

He explained that selling dinars to visitors is a very good step, and has been taking place for two years, and saves visitors the trouble of converting their currency in Iraq into Iraqi currency, and Iraqi dinars can be obtained at a certain price for purchase directly from Iranian banks.

The website quotes experts as saying that in general there is no problem in providing the dinar from the point of view of the existence of the Central Bank, and next year the amount will be increased to more than 200 thousand dinars for each visitor.

Arbaeen visitors who travel to Iraq by air can obtain $500 in travel currency in addition to 200 thousand dinars in Arbaeen currency from the ATMs located at Imam Khomeini International Airport.

According to the announced figures, the Central Bank of Iran sold 320 billion Iraqi dinars to visitors entering Iraq, while questions remain about where the Central Bank of Iran gets the Iraqi dinars from, and whether they are one of the payments that Iraq spends on Iran to settle some import transactions that cannot be paid in dollars.   link

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

Tishwash:  Al-Sudani's advisor explains the reasons for the fluctuation of gold prices in Iraq

The financial and economic advisor to the Prime Minister, Mazhar Salih, said today, Monday, that the reasons for the fluctuation of the price of gold in Iraq are not internal, but rather global, indicating that the Iraqi government encourages the import of gold because it is a “safe haven” for wealth.

At the state or individual level, gold has historically been a safe haven for preserving the purchasing power of wealth, as people keep gold for that purpose, and the cycle of gold assets between rising and falling is usually slow. If we take the cycle of assets, we find gold, almost as an average, as it is of constant value among other wealth,” Saleh told Al Furat News Agency, explaining that “society has historically been accustomed to keeping gold as a tendency to preserve personal wealth.”

He added, "In the modern era, the state keeps part of its foreign reserves supporting the national currency in gold. For example, Iraq keeps about 148 tons of gold, which constitutes 10% of its foreign currency reserves."

During the past month of February, Iraq's gold reserves witnessed a significant increase, as data from the International Monetary Fund showed that Iraq had increased its holdings of the precious metal by 3,079 tons, bringing the total to 145,661 tons.

He continued, "The reserves are a diversified investment portfolio of gold and currencies such as the dollar, euro, pound, yuan, yen, and others," describing this diversity as "based on basic global evidence, and it is not arbitrary."

He pointed out that "this evidence was made in agreement with the International Monetary Fund, in terms of the percentages of monetary gold that support and are considered a cover for the Iraqi dinar."

He stressed that the global standard for this is 10%, considering gold “not easy for fast payment operations and others, and it is heavy, but it is part of protecting reserves and confronting fluctuations in currency values.”

He explained that "the gold asset cycle is slow, so keeping it protects reserves from currency fluctuations. Iraq is not a maker of gold prices in global markets, but rather a recipient, because we are not a country that possesses gold wealth, but rather we import gold. Therefore, the entry of gold into

Iraq is a good wealth that is better than the entry of consumer goods that are not valuable and drain resources. Gold is a "precious wealth for the future," noting that "the gold discovered in the world is approximately 75%, and it is limited and not extensive, so central banks are pushing to keep a minimum amount of gold."

He stressed that "the policy of encouraging the entry of gold into Iraq is an import of wealth, and as assets they represent good stores of wealth, so the state encourages this and the customs taxes on them are moderate," indicating that "the gold markets in Iraq depend on two things: its price in the world and the extent of the rise or fall of the dollar, and we receive external visas at the value of gold and the dollar," considering encouraging the flow of gold into Iraq "a good thing. Recently, the price of gold has risen in Iraq, as the price of a mithqal (5 grams) has exceeded 500 thousand Iraqi dinars."   link

Mot: .. Have a Safe One!!! 

Mot: Siiiiiigggghhhhhh -- AGAIN!!! ---

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More News, Rumors and Opinions Sunday PM 9-1-2024

TNT:

Tishwash:  Finance: Iraq maintains its credit rating and foreign exchange reserves level

 The Ministry of Finance confirmed, on Sunday, that Iraq has maintained its credit rating and the level of foreign currency reserves.

The ministry said in a statement, seen by "Al-Eqtisad News", that "in the latest report issued by Standard & Poor's Credit Rating Agency (S&P), Iraq maintains its credit rating at B- / B with a stable outlook, indicating financial and economic stability in Iraq."

It added, "The new rating reflects the ongoing economic and financial reform policy pursued by the Ministry of Finance, in addition to maintaining the level of foreign currency reserves that exceed the external public debt and fulfilling other external financial obligations as a result of the stability of crude oil prices." It continued,

"The agency's report indicated the possibility of improving Iraq's credit rating in the event of an increase in the economic growth rate, diversification of the state's oil and non-oil public financial revenues, an increase in the per capita income share of the national income, and the continuation of financial and economic policy reform measures."  link

Tishwash:  Prime Minister's Advisor Announces Increase in Non-Oil Revenues Compared to Previous Years

The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Saleh, announced today, Sunday, that non-oil revenues have increased compared to previous years, while pointing to two factors that contributed to maximizing revenues. 

Saleh told the Iraqi News Agency (INA): "There are tangible positive indicators in the growth of non-oil revenues for the year 2024 compared to previous years that reached record levels," explaining that "the development of oil and non-oil revenues (at the semi-annual level) between 2023 and 2024 has shown a distinctive growth in revenues in general, and non-oil revenues in particular, as these available financial digital data indicated tangible levels of financial revenues."

He pointed out that "oil revenues (semi-annual) for the year 2023 amounted to 53.88 trillion dinars, while non-oil revenues amounted to nearly 0.42 trillion dinars (during the six months of the same year 2023)," indicating that "oil revenues in the first half of the year 2024 amounted to 58.80 trillion dinars, while non-oil revenues (at the end of the first half of the year 2024) rose to reach 7.18 trillion dinars."

 He added: "This is a major development in the public financial capabilities during the current year to maximize its resources from non-oil sources," adding that they are "clear trends that have taken their practical course, relying primarily on a new approach to tax reforms (in both direct and indirect forms)."

Saleh added, "The positive development in non-oil revenues is due to two important factors, the first: the broad applications of government policies in the field of public finance reform (organizationally and procedurally) through paths that are in line with the principle of maximizing non-oil revenues stipulated in the government's program for financial reform, which stipulates raising the contribution of non-oil revenues to 20% of total annual revenues compared to the previous low rates."

Saleh stated that “the Council of Ministers approved earlier this year 8 new packages to reform the country’s tax system, led by the principle of expanding tax bases, especially those that are hidden, evading or neglecting annual tax accounting. Two of these packages have been launched to date, and the rest of the packages will be launched sequentially and gradually within the government’s reform policy in the financial field and maximizing the state’s resources from sources of income and wealth outside the oil sector.”

He pointed out that "the second factor stems from the importance of implementing e-governance processes, especially the serious progress in implementing digital service systems in cooperation and technical and organizational assistance provided with financial and commercial bodies and institutions affiliated with the United Nations."

He explained that "the adoption of digital applications at border crossings and customs sites, which have taken important aspects of auditing and estimation operations, in addition to the expansion of the scope of digital customs and tax collection related to electronic payment, has worked to maximize non-oil financial resources and control cash flows for the benefit of the treasury, which is a matter that has begun to serve the integration of procedures for implementing the unified treasury account and imposing financial discipline on cash flows in the federal public finance at the same time  link

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

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

Nader From The Mid East  Everybody's saying there's a new category of currency come out in the streets of Iraq.   We heard it but we didn't see anything.  Nothing new, we still with the same currency.  For now didn't see anything. 

yada    Considering the revelation of last week's progress in NY, regarding the activation of Iraq's ability to exchange the other currencies world wide starting Friday...The digital conversions of dinars to other currencies and visa versa. That was achieved on Friday...I believe the RI is done and awaiting the markets reopening. Trillions in dinar will gain value and contracts and agreements will be active.

Iqd removing 3 0 from Iqd #

Nader:  8-31-2024

https://www.youtube.com/watch?v=2DyQ0kup3Dk

BREAKING NEWS Iraqi Parliament Giving Itself a Raise!

Edu Matrix:  8-331-2024

People in Iraq Not Happy About Parliament's Decision to Give Itself a Raise! BREAKING. Currency News; Iraq:

https://www.youtube.com/watch?v=zDLCsFFAO2A

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 9-1-24

Good Afternoon Dinar Recaps,

ARE XRP AND XLM CORRELATED? RIPPLE CTO SHARES INSIGHTS

XRP and Stellar (XLM) are two cryptocurrencies that have been constantly compared in terms of price growth and development. Both digital assets are committed to facilitating cross-border transactions. In continuance to a discussion revolving around XRP that initiated in March, the Ripple CTO, David Schwartz has shared some interesting insights into the correlation between XRP and Stellar (XLM).

Insights From Schwartz’s

In an X post, Schwartz openly acknowledged that he had no idea what were the factors that drive XRP’s price. It might be surprising to see that such a statement is made by one of the key architects of XRP Ledger, but regardless, it is worth noting that this might highlight various market factors that might be influencing the XRP price action.

He further went on to notice a crucial point stating-

“The only real objective data point I have is that XRP tracks the price and market cap of XLM incredibly well over all time frames.”  This observation might imply that despite the complexities influencing the price action, XRP and XLM share a closely connected path.

Exploring Their Origins And Price Influence

XRP and XLM share identical origins, as XLM was created by Jed McCaleb, a co-founder of Ripple who later split to start Stellar. Both the tokens are intended to facilitate cross-border payments, although they cater to different markets and use cases.

The correlation emphasized by Schwartz could mean that market forces affecting one of these tokens often influence the other. However, the exact reasons for this correlation remain speculative, as Schwartz himself has cited the lack of clarity on the precise drivers behind XRP’s price.

CTO’s Previous Hints To The Correlation

Schwartz had previously also shared a chart displaying a strong correlation in the price movements and patterns between XRP and XLM tokens and had explained the distinct reasons behind XRP and XLM’s unique price movements.

The Ripple CTO had admitted even back then that he lacked an accurate explanation for the price correlations, however, he provided two major factors that could be influencing the price trends.

The Two Factors That Could Be At Play

Schwartz revealed that comparable market forces that regulate various cryptocurrencies also control XRP and XLM. He stated that most investors and crypto enthusiasts often place XRP and XLM within the same category due to the cryptocurrencies’ historical connection.

Therefore a significant number of people simultaneously engage in buying and selling XRP and XLM causing the cryptocurrencies to have similar price movements

XRP and XLM have gained significant attention, and often viewed as the leading contenders for cross-border payments and mainstream adoption. While they tend to display similar price tracks, there still needs to be some clarity on the correlation between the two.

@ Newshounds News™

Source: Coinpedia

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REPORT: BLOCKCHAIN IS POISED TO OVERHAUL GLOBAL PAYMENT SYSTEMS

According to a Binance report, blockchain technology is set to transform the global payments landscape by addressing inefficiencies in traditional financial systems.

The Binance research report highlights that while current payment methods, such as Visa and Mastercard, offer the convenience of near-instantaneous payment authorization, actual settlement times often lag, sometimes by several days.

This delay is especially pronounced in cross-border transactions, where communication between banks in different countries can extend settlement times.

In contrast, blockchain-based payments offer near-instant settlement. The report cites a 2021 pilot conducted by Visa and Crypto.com in Australia, where the use of USDC (USDC) and the Ethereum (ETH) blockchain allowed cross-border transactions to be settled in a fraction of the time traditionally required.

@ Newshounds News™

Source:  Crypto News

~~~~~~~~~

KEY EVENTS IN SEPTEMBER 2024 IMPACT THE CRYPTOCURRENCY SECTOR IN BRIEF

 
▪️September 2024 will be critical for the cryptocurrency sector.

▪️Key events include Korea Blockchain Week and US economic data releases.

▪️Political and economic developments could significantly impact the crypto market.

September 2024 will be a highly active and critical period for the cryptocurrency sector. The events occurring during this time could shape both the developments in the sector and the future of the market. Wu Blockchain has provided a list of important events, and we will take a closer look at the details.

▪️Korea Blockchain Week Starts on September 1
▪️US Non-Farm Payroll Data for August to be Released on September 6
▪️Trump and Harris to Meet on September 10
▪️US Inflation Data to be Released on September 11
▪️Token2049 Global Conference and Fed Interest Rate Decision on September 18
▪️Former Binance CEO Changpeng Zhao to be Released on September 29

Korea Blockchain Week Starts on September 1

First, the Korea Blockchain Week starting on September 1 stands out as a major event where significant figures in the sector will gather.

US Non-Farm Payroll Data for August to be Released on September 6

The US Non-Farm Payroll Data for August, which is of great importance for the US economy, will be released on September 6.

Changes in employment are expected to provide clues about the overall state of the US economy. A potential decline in the data could cause fluctuations in the cryptocurrency market, as negative economic signals may increase interest in risky assets.

Trump and Harris to Meet on September 10

The first presidential debate between Trump and Kamala Harris, scheduled for September 10, is highly anticipated.

The focus on economic issues in the debate will attract the attention of the cryptocurrency community. Political developments in the US are closely related to the crypto market, making this debate highly significant.

US Inflation Data to be Released on September 11

Inflation data has always been critical for cryptocurrency investors. The US Consumer Price Index (CPI) data for August, to be released on September 11, will provide important insights into the direction of inflation.

Since cryptocurrencies are known to be seen as a hedge during high inflation periods, this data could create significant market activity.

Token2049 Global Conference and Fed Interest Rate Decision on September 18

The Token2049 Global Conference, starting on September 18, is another major event where significant figures in the sector will gather. Announcements made during the conference, especially new partnerships and projects, could cause significant fluctuations in the cryptocurrency market.

On the same day, the Federal Reserve FOMC meeting will determine decisions regarding interest rates. Interest rate cuts generally increase interest in risky assets like cryptocurrencies. the-cryptocurrency-sector/#trump-and-harris-to-meet-on-september-10Additionally, the final decision in the case against Trump concerning allegations of irregularities in job records will also be made on the same day.

@ Newshounds News™

Source: Coin-Turk

~~~~~~~~~

Newshound's Currency Facts Youtube and Rumble
Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

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Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

Iraq Economic News and Points To Ponder Sunday Afternoon 9-1-24

Oliver Wyman Company And Lifting Sanctions On Banks Banned From Using The Dollar
 
Economic researcher Ali Dadoush    The Central Bank of Iraq contracted with Oliver Wyman, a global consulting firm, which has the ability to
 
     “restructure companies to achieve success in difficult times, and
     build a new strategy in the field of banking services, as well as
 
being a leader in the field of risk, strategy and human resources, where
it helps clients.” To navigate in a dynamic environment across four global companies.

So a company like Oliver Wyman can
 
     help sanctioned Iraqi banks understand the sanctions imposed on them,
     work on strategies to reduce their impact, and even
     help remove these sanctions in some cases.
 
From a legal standpoint, the company can help Iraqi banks
 
     understand international laws and sanctions applied to them,
     identify any legal risks associated with their activity, and then
     provide recommendations on how to improve banks’ compliance with international sanctions and
     develop plans to mitigate risks.
 
In addition, the company will help Iraqi banks in
 
     Communicating with international government agencies to
     learn more about the sanctions imposed on them, or to
     request ((exceptions or mitigation)), by
     providing training programs for employees in Iraqi banks to develop their skills in the field of sanctions compliance.
 
From the above, we conclude that Oliver Wyman can   play an important role in helping Iraqi banks understand and implement international sanctions effectively, and then   submit a recommendation to the Treasury and the Federal Reserve that paves the way for lifting the sanctions.      https://economy-news.net/content.php?id=47001   

The Central Bank Contracts With An International Auditing Company To Reform And Merge Iraqi Banks
 
Economy | Yesterday, Baghdad Today – Baghdad   Saturday (August 31, 2024), the Central Bank of Iraq announced that it has contracted with an international auditing firm in New York City, in the United States of America.
 
The bank confirmed in a statement received by “Baghdad Today” that “the delegation headed by the Governor of the Central Bank, Ali Mohsen Al-Alaq, to ​​the United States of America, discussed the
 
     use of electronic payment cards and ways to organize and
     stimulate their use in line with Iraq’s trend towards electronic payment,
 
during separate meetings with... A group of companies such as (Visa, Mastercard and MoneyGram), as the international auditing company (KPMG) provided an extensive analytical presentation of the uses of these cards, reinforced with recommendations and proposals to enhance the regulated use and accommodate the significant increase in citizens’ use of these cards.”

During the negotiations, according to the statement, the gathered parties praised
 
“the important steps in promoting banking sector reforms, the most important of which is the contract conducted by the delegation of the Central Bank of Iraq with the company (Oliver Wyman) to conduct a comprehensive review of the conditions of Iraqi banks, especially the banks that are prohibited from dealing in the US dollar currency.”  The statement explained,
 
"The company will work to develop practical solutions to reintegrate these banks within the Iraqi and international banking sector, in addition to improving the level of bank procedures in accordance with international standards, as
 
this initiative aims to
 
     facilitate the process of establishing direct banking relationships, and
     improve the quality of the services provided." From banks to serve the Iraqi economy,” noting that
 
“the company is scheduled to begin its work during the next few period.”   
 
https://baghdadtoday.news/256913-البنك-المركزي-يتعاقد-مع-شركة-تدقيق-دولية-لاصلاح-ودمج-المصارف-العراقية.html  

The Central Bank Announces The Results Of The New York Meetings
 
Economy    30-08-2024, Baghdad – IA  Today, Friday, the Central Bank of Iraq announced the results of the visit of the delegation headed by the Governor of the Central Bank, Ali Mohsen Al-Alaq, to ​​the United States of America, which lasted from August 26 to 29, 2024.
 
The Central Bank of Iraq confirmed in a statement - received by the Iraqi News Agency (INA) – that   
"a high-level negotiating delegation headed by Governor Ali Mohsen Al-Alaq held a series of intensive meetings in New York City, the United States of America, which included discussions with the
 
     US Treasury Department and the
     Federal Reserve Bank, In addition to meetings with a group of
     companies (Visa, Mastercard and MoneyGram) as well as
     bankers (Citi Bank and JP Morgan) as well as
     international auditing firms (KPMG, E&Y, K2i and Oliver Wyman).”  He added,
 
"The participants in the meetings praised the major transformations accomplished by the Central Bank of Iraq, which represent an unprecedented achievement at the country level, as the bank achieved remarkable progress in the procedures for controlling external transfers and cash sales of the US dollar currency, which led to the improvement of systems, policies, and procedures."

 In accordance with international and local standards, enhancing transparency in covering foreign trade and providing protection for the banking and financial sector from the risks of money laundering, terrorist financing and financial crimes.” 

He announced,  “A meeting will take place between officials of the Central Bank of Iraq and its international partners by the end of this year regarding the major shift in ending the work of the electronic platform for foreign transfers and
 
replacing it with direct banking relationships between Iraqi banks and the network of international correspondent banks, in accordance with the plan developed by this bank, and in effect.” internationally,
 
which will allow the Central Bank of Iraq and the Federal Reserve Bank to exercise their supervisory roles away from executive procedures, as
 
this transformation will have important repercussions in the stability, smoothness and transparency of the country’s foreign trade financing operations,” noting,
 
“It aims to achieve the required stability in exchange rates, which in turn will lead to... To enhance the efficiency of the financial system in Iraq. 

He pointed out that  "the meetings in New York City also dealt with mechanisms for expanding the network of international correspondent banks and qualifying Iraqi banks to meet the requirements necessary to open their accounts with international correspondent banks, with the aim of enabling them to complete their financial transactions, whether through external transfers in the US dollar or other foreign currencies."     https://www.ina.iq/215871--.html   

After The Success Of The Recent Negotiations In Washington, An Expert Identifies Indicators Of Declining Demand For The Dollar

 Economy | Baghdad Today – Baghdad   Financial and economic affairs researcher Alaa Glob Al-Fahd confirmed today, Saturday (August 31, 2024), that the  Central Bank succeeded during the recent negotiations in Washington in diversifying the basket of commercial currencies, indicating that this will lead to a significant decrease in demand for the dollar. 

Al-Fahd said in an interview with "Baghdad Today", that  "as part of the discussions of the Central Bank of Iraq during the past hours with the US Federal Reserve and the US Treasury, which lasted for three days, 13 Iraqi banks were included in direct external correspondence (remittances) and the diversification of the currency basket."

He states,   "There will be commercial transactions in the UAE dirham, the Indian rupee, and the Chinese yuan, and   this gives the Iraqi government flexibility to diversify the basket of commercial currencies."

Al-Fahd added,   "The dollar is currently the master of commercial transactions in Iraq, as it is the only source of oil revenues that are sold in dollars, and the reserves of the Central Bank of Iraq are in US dollars, and that is why it is the basic currency for foreign trade." He continued,

 "After diversifying the basket of foreign currencies for foreign trade, there will be a decrease in the issue of pressure on the dollar, and

 most of the demand for the dollar currently is not a local demand, but rather a demand for neighboring countries, due to the sanctions on those countries, and

 this demand will decrease significantly after diversifying the basket." Currencies in foreign trade transactions.

 Yesterday, Friday (August 30, 2024), the Central Bank announced the participation of 13 Iraqi banks in the external transfer, indicating that this step comes within efforts to support economic growth and expand the horizons of international cooperation with global markets.

 The bank said in a statement that the new phase of external transfer operations has begun, which is

 an important step aimed at

      enhancing the diversity of currencies and

     facilitating international transfer operations, noting that this announcement came after

reaching an agreement on the mechanisms for regulating these operations, as it will include dealing in the currencies of the euro, the Chinese yuan, and the rupee. Indian and UAE dirham.  

 https://baghdadtoday.news/256923-بعد-نجاح-المفاوضات-الأخيرة-في-واشنطن.-خبير-يحدد-مؤشرات-انخفاض-الطلب-على-الدولار.html

Iraq Was Chosen To Chair The Group Of 77 And China In The United Nations

Politics | Yesterday, Baghdad today – Baghdad  Today, Saturday (August 31, 2024), the Ministry of Foreign Affairs announced the selection of Iraq to chair the Group of 77 and China ( G77 ) at the United Nations for the year 2025, after the meeting of the Asia-Pacific Group, which was held to discuss Iraq’s candidacy for this position.
 
The ministry said in a statement received by “Baghdad Today” that
 
“the Charge d’Affaires of the Permanent Representative of the Republic of Iraq to the United Nations in New York, Abbas Kadhim Obaid, gave a speech in which he affirmed Iraq’s vision for its role during its presidency of the group, highlighting the main axes of the work and stressing Iraq’s commitment to the principles.”

 The basic objectives of the group, especially with regard to supporting the goals and aspirations of developing countries in achieving economic, technological, and social development.  Obaid stressed,
 
 “Iraq will work to provide all the elements of success for this presidency, which is the first for Iraq since the founding of the group, as Iraq was one of the founding countries 60 years ago.”  The statement added,
 
“At the conclusion of the meeting, the decision was unanimously adopted to support the Republic of Iraq to assume the presidency of the Group of 77 and China ( G77 ), as the member states extended their congratulations to Iraq and expressed their readiness to support it in its tasks during this important presidency, and
 
the Chargé d’Affaires expressed in another speech: His gratitude for the support and recommendation of the Asia-Pacific Group and its confidence in assigning this responsibility to Iraq, stressing its readiness to work and cooperate with member states to achieve common goals.
 
It is worth noting that the Group of 77 and China is the largest grouping of countries in the United Nations, with 134 member states.   
 
https://baghdadtoday.news/256889-اختيار-العراقِ-لرئاسةِ-مجموعةِ-الـ-77-والصين-في-الأممِ-المتحدة.html   

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