And, Right On Cue, Gold Hits Another All Time High...

And, Right On Cue, Gold Hits Another All Time High...

Notes From The Fuield By James Hickman (Simon Black)  September 16, 2024

This is an anomaly we haven’t seen before.

Gold just hit yet another all-time high. But what’s strange is that, if you look at gold’s supply and demand fundamentals, the price should almost be falling. Not rising.

I’ll explain—

On the supply side, gold production is actually increasing slightly. The largest miner in the world, Newmont Mining, produced nearly 30% more gold in the first half of 2024 compared to 2023. And across the entire industry (according to the World Gold Council), global gold mining output is up slightly over 2023.

So much for shrinking supply.

But what about demand? Well, this is usually broken down into four main segments.

The first and (by far) largest segment of demand is jewelry. But global jewelry demand is down.

Signet Jewelers (which owns major jewelry brands like Kay, Zales, Jared, Blue Nile, and many others) has reported an 8.5% drop in revenue so far in 2024 versus 2023. Meanwhile China’s Gold Association reported a 27% decline in gold jewelry purchases in the first half of 2024.

Even on the high-end side, LVHM’s jewelry division (which includes the luxury brand Tiffany’s) also reported a 5.1% sales decline due to “an uncertain economic and geopolitical environment. . .”

So overall jewelry worldwide (which is THE biggest component of gold demand) is down. Worldwide.

The next segment which drives gold demand is investment demand, i.e. individual investors who buy bars and coins... but most often invest via Exchange-Traded Funds.

Well, the largest ETFs in North America (GLD and IAU, which comprise 80% of the market) are DOWN for the year, meaning they have been net SELLERS of gold, rather than buyers. Even in the month of August, these two combined for a big fat whopping 1.7 metric tons of net purchases, roughly $200 million.

That’s nowhere near enough to move the gold price.

Meanwhile, across the Pacific, all of Asia’s gold ETFs COMBINED only purchased a net 0.3 metric tons (i.e. $30 million) last month. Again, this is simply not enough demand to move the gold price.

And so far for the year, worldwide, gold ETF holdings are DOWN by about 44 metric tons.

The third category of gold demand is industrial use. You might already know, for example, that there’s about 50mg of gold in your mobile phone thanks to gold’s unique chemical properties as an electrical conductor.

So mobile phone producers (along with certain medical device manufacturers and a handful of other industries) also buy gold. It’s pretty small demand, though— industrial and technology use only makes up about 10% of global gold demand.

That said, it’s worth pointing out that iPhone sales (which is a good proxy for global mobile phone production) are down substantially, from a peak of $48 billion in Q1/2021 to just $39 billion in its most recent quarter.

So, to summarize, jewelry demand is flat or down. Investment demand for gold is flat or down. Industrial demand is too small to matter, but even that is down. Meanwhile, supply is rising.

Rising supply and falling demand? It seems like gold prices should be falling right now. And yet gold just reached yet another record high. What gives?

Well, as we’ve said before, the answer is central banks.

Poland is a great example; despite being a relatively small country, it bought 19 metric tons of gold last quarter alone. And it plans to buy at least another 125 tons in the future. That’s a lot of gold.

This is a trend taking place worldwide; central banks including China, Turkey, Qatar, India, Czech Republic, etc. have loaded up on gold this year. And in the second quarter of 2024, central banks purchased 183 metric tons of gold... which is far more than usual.

Central banks typically buy small amounts of gold, i.e. a few metric tons here and there. But over the past two years, they’ve been buying gold like crazy.

It’s pretty obvious why. They’re concerned about the world, and they’re concerned about the fate of the US dollar and US government finances.

Think about it— central banks around the world own TRILLIONS of dollars worth of US government bonds, i.e. US dollar foreign reserves. And they’re obviously worried.

Congress and the White House run outrageous budget deficits every year. The federal government’s dysfunction is a constant national embarrassment. The US national debt is set to soar by AT LEAST $22 trillion over the next decade. And inflation is far from being solved.

Foreign central banks know this. And they realize that, in a few years time, their trillions of US dollar reserves will be worth a lot less.

So they’re trying to do something about it now. And that means trading at least SOME of their dollars for gold... hence the feverish central bank gold purchases, and the all-time record high in the gold price.

We’ve already suggested that gold could easily go much higher... especially if Kamala wins. I think that’s easily a $10,000 gold price, which would suggest only a small percentage of US dollar foreign reserves invested in gold.

That doesn’t mean the gold price can’t fall in the meantime. Gold prices have been rising for so long, and, realistically, nothing goes up or down in a straight, uninterrupted line.

Some central banks will continue buying gold irrespective of its price. Others will be more conservative and try to play the market. Singapore’s central bank, for example, actually sold a bit of gold recently and are probably hoping for a pullback in prices to buy more.

But over the longer term, gold is still an extremely sensible hedge with a lot of upside.

Having said that, the real value we see right now is in gold miners.

Look at Newmont mining— and, this is not a recommendation, but just an example. Newmont is the world’s largest gold miner, i.e. more than 80% of its revenue is essentially gold.

Gold is at an all-time high, yet Newmont’s stock price is about 40% below its record high from a few years ago.

Sure, it’s a much more complicated story; you have to consider gross margins and mining costs and country risk, etc. But the larger point is that gold stocks (especially relative to gold) are very cheap right now... especially when you consider where gold could be a few years from now.

To your freedom,  James Hickman   Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/trends/and-right-on-cue-gold-hits-another-all-time-high-151422/

Seeds of Wisdom RV and Economic Updates Monday Afternoon 9-16-24

Good Afternoon Dinar Recaps,

LAWMAKER CALLS ON CFTC TO REGULATE ELECTION MARKETS AS POLYMARKET ACTIVITY FALTERS AMID UNCERTAINTY

Lawmaker warns that banning election betting could fuel illegal platforms, threatens election integrity.

Congressman Ritchie Torres has called on the Commodity Futures Trading Commission (CFTC) to regulate election-related prediction markets rather than blocking them.

In a letter addressed to CFTC Chair Rostin Behnam, Torres urged the regulator to focus on promoting responsible innovation and working with platforms like Kalshi and Polymarket to ensure such markets are regulated rather than pushing traders towards illegal, unregulated platforms.

Torres’ letter followed a Sept. 6 court ruling that partially overturned the CFTC’s efforts to prevent Kalshi, a US-based prediction platform, from offering election-related contracts. He emphasized that further legal challenges could harm both election integrity and consumer protection, allowing illegal platforms to flourish.

Torres wrote:

“The CFTC has a mandate to promote responsible innovation.”

He urged the agency to collaborate with regulated market participants, ensuring election-related contracts are conducted transparently and securely within regulated markets.

Polymarket declines amid uncertainty
Polymarket has seen a significant decline in activity over the last few days as regulatory pressure and uncertainty over election betting continue to mount.

According to Dune Analytics, Polymarket’s daily active traders dropped by nearly 40%, from 12,595 on Sept.11 to 7,627 by Sept. 15. The platform’s daily trading volume also fell dramatically, down 85.6%, from $37.2 million to $5.35 million over the same period.

The drop in activity follows the CFTC’s proposal to limit certain event contracts, particularly those related to political outcomes. The regulator has expressed concerns about the potential for manipulation in such markets, citing instances where fabricated information, like a fake poll involving musician Kid Rock, distorted market prices.

Despite the regulatory challenges, Polymarket has gained some mainstream recognition, with Bloomberg recently integrating the platform into its financial terminals. The move suggests that interest in decentralized prediction markets is growing, even as regulators scrutinize the sector more closely.

Intensifying debate
The debate over election prediction markets intensified on Sept. 6 when a federal court ruled in favor of Kalshi, allowing the platform to offer election-related contracts. The platform hailed the decision as a historic moment, stating that for the first time in 100 years, Americans could legally trade on election outcomes.

However, the CFTC quickly filed an emergency motion to stay Kalshi’s election markets, citing concerns about potential manipulation. The agency has argued that election markets could undermine public trust in the democratic process.

The CFTC’s actions have faced criticism from lawmakers like Torres, who urged the watchdog to accept the court’s ruling and focus on regulating these markets to ensure transparency and consumer protection.

Torres wrote in his letter:

“The CFTC should be focusing on regulating exchanges, protecting consumers, and safeguarding the integrity of elections.”

He warned that continued legal battles could push traders toward unregulated platforms, further jeopardizing election integrity.

@ Newshounds News™

Source:  CryptoSlate

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RIPPLE JOINS HANDS WITH HEDERA AND APTOS LABS TO LAUNCH MICA CRYPTO ALLIANCE

▪️Ripple, Hedera and Aptos Labs, founding members of DLT Science Foundation, made a key announcement on Monday.

▪️The three firms launched the MiCA Crypto Alliance to enhance compliance with EU markets in crypto assets regulation.

▪️XRP hovers around $0.5600 on Monday.

Ripple (XRP) made a key announcement alongside other founding members of a crypto alliance. The DLT Science Foundation is behind the effort, Ripple partnered with Hedera and Aptos Labs.

XRP erased recent losses and held steady above $0.5600 on Monday.

Daily digest market movers: Ripple leads effort for crypto alliance launch

▪️Ripple partnered with crypto firm Aptos Labs and distributed ledger technology-based Hedera for the DLT Science Foundation. The DLT Science Foundation (DSF) is a non-profit organization that promotes blockchain technology adoption among firms.

▪️The foundation’s mission is to create an open ecosystem and work with industry, academia and developer communities.

▪️DSF announced the launch of the MiCA Crypto Alliance for better coordination among industry members and for navigating the regulatory landscape in the European Union (EU).

▪️The alliance aims to foster cooperation between firms navigating the EU’s regulation pertaining to innovation in blockchain technology.

▪️MiCA sets strict disclosures for Crypto-Asset Service Providers (CASPs) and expects centralized exchanges and crypto firms to disclose climate impact of operations, among other details, through white papers and online descriptions accessible to the public.

Technical analysis: XRP eyes double-digit gains
XRP has been in a multi-month downward trend since its July 2024 top of $0.9380. The native token of the XRP Ledger erased recent losses and trades at $0.5731, above support at $0.5600.

Newshounds News™

Source:  FX Street

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Ripple Stablecoin is for All, Including Retail Investors: XRP Ledger Validator

Vet, an XRPL dUNL validator, has debunked speculations that the highly anticipated Ripple stablecoin RLUSD is only for institutional investors.

In an X post, the dUNL validator stated that RLUSD is for everyone, both institutions and retail users. According to him, a compelling ecosystem would need an all-rounded adoption to thrive. As a result, Ripple will need both retail and institutions to boost the stablecoin’s utility

RLUSD is for Everyone
Vet further asserted that institutions would play an important role in RLUSD distribution, creating a path to widespread adoption of the stablecoin. He stated that institutions would receive RLUSD from the XRP Ledger and distribute it to users.

It bears mentioning that retail traders and some institutional investors cannot assess stablecoins directly. USD-pegged assets are usually minted in treasuries and distributed to certain institutions. These organizations, in turn, move them to other institutions and exchanges.

As a result, Vet noted that retail traders and other institutions would access RLUSD through exchanges and automated market makers. This would allow the stablecoin to be widely used for cross-border payments and consequently provide liquidity on the XRP Ledger.

Vet’s analogy supports community pundit WrathofKahneman’s stance on the boiling issue. The XRP community enthusiast stated that the misconception that institutions alone would use RLUSD was false.

WrathofKahneman pointed out that Ripple’s On-Demand Liquidity (ODL) requires retail traders. Hence, creating a stablecoin for seamless cross-border transactions without the inclusion of retail is not rational. Notably, the actual date for the launch of RLUSD remains a mystery, with Ripple’s CEO Brad Garlinghouse noting it will debut in weeks.

The RLUSD Institution Theory
The notion that RLUSD was only for institutional investors came up from a comment by Ripple’s chief technology officer, David Schwartz. In an X post, Schwartz stated that the Ripple stablecoin would only be accessed directly by institutions.

He likened the scenario to Tether’s USDT and Circle’s USDC, noting that retailers cannot directly access the stablecoins. Schwartz reiterated the same notion in another post, asserting that retail only acquired these stablecoins from exchanges and not directly from their treasuries.

It bears mentioning that RLUSD has been speculated to replace XRP as a bridge asset for ODL transactions. However, Schwartz stated that the stablecoin, which is in beta testing on the XRPL mainnet and the Ethereum network, would complement XRP, providing broader options for users.

@ Newshounds News™

Source:   The Crypto Basic

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Join President Trump LIVE at 8PM (ET) on X Spaces for his announcement on World Liberty Financial!

@ Newshounds News™

Watch Here:  https://x.com/realDonaldTrump/status/1835754983259558260

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BIG! XRP and Interledger Protocol key to solving current issue of disconnected financial networks.  |  Youtube

@ Newshounds News™

Source:  Source: Seeds of Wisdom Team Currency Facts 

~~~~~~~~~

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The Global Currency Reset: What is the future of a Global Currency

The Global Currency Reset: What is the future of a Global Currency

David Bonellie     Last updated: February 21, 2024

The Global Currency Reset: What is the future of a Global Currency 

The Global Currency Reset (GCR) typically refers to a hypothetical event in which the world’s currencies are supposedly “reset”. The GCR looks at new values based on the revaluation of specific currencies and the devaluation of others. Proponents of the GCR theory argue that this reset is necessary to address the current flaws in the global financial system.  A GCR can level the playing field for developing nations. 

There are several impacts that global currency changes can have on individuals and their businesses, global mobility, and investing. 

Brief History of Fiat Currency (Modern Money)

Fiat currency is not backed by a physical commodity such as gold or silver but is based on confidence and trust in the issuing government or central bank. 

Bretton Woods Gold Standard

The Bretton Woods Agreement of 1944 established the US dollar as the world’s reserve currency and pegged it to the value of gold, providing a fixed exchange rate system. After World War II, governments sought to manage their economies and stabilize their currencies. 

The agreement required countries to guarantee the convertibility of their currencies into US dollars to within 1% of fixed parity rates, with the dollar convertible to gold bullion for foreign governments and central banks. 

Move to the PetroDollar 

This type of fiat policy lasted until 1971, when the US government ended the gold standard. The move away from the gold standard was another “global currency reset” at the time and has existed for the last fifty years. 

Shortly after 1971, the term “petrodollar” refers to the system that emerged whereby oil-exporting countries agreed to price their oil exports in US dollars. The petrodollar allowed the US to maintain its dominance in the global financial system and helped to support the value of the US dollar.

Several currencies are pegged to the US dollar, a common strategy in the Caribbean and several of the citizenship by investment countries. The East Caribbean Dollar is the primary currency across all five CBI countries, and investors can settle their financial investment requirements in US dollars to obtain citizenship. 

Turkey’s citizenship by investment programs pricing is in US dollars. Although in this instance, investors need to convert their US dollar into Turkish Lira.

The Global Currency Reset

Potential Benefits and Challenges of a Global Currency Reset

Proponents of a global currency reset (GCR) argue that there could be several benefits to a global currency reset. Some hope that a GCR will help to reduce the disparity in wealth and income between countries and promote greater financial fairness by reducing the dominance of a single country’s Currency in the global financial system. 

A currency reset moves away from a monetary system focused on short-term profits and speculation. Additionally, a GCR could promote a more efficient allocation of resources and investment in long-term development. 

In this regard, the global currency reset reduces geopolitical tensions by reducing the dominance of a single country’s Currency in international trade and finance and could promote greater cooperation and stability in global economic relations.

Proposed Models for a Global Currency Reset

As there is no official movement or proposals on a currency reset, it is challenging to nail down one model that can be adopted. That being said, here are four potential options for a global currency reset.

A Global Reserve Currency

Under this model, a single global reserve currency would replace the current system, in which the US dollar is the dominant reserve currency. This global Currency could be backed by a basket of commodities or other currencies and managed by an international body such as the International Monetary Fund (IMF).

Regional Currencies

Another model for a GCR would involve the creation of regional currencies within specific geographic areas. For example, the Euro is a regional currency used within the European Union. Under this model, several regional currencies could replace the US dollar as the dominant global Currency.

Blockchain-Based Currencies

Some proponents of a GCR have suggested that a blockchain-based cryptocurrency is ideal for replacing the current system. This Currency would be based on decentralized ledger technology and managed by a distributed network of computers rather than a central authority. It is possible that Bitcoin or Ethereum be the global settlement cryptocurrency in the future. 

There are a few citizenship by investment nations that are forward looking with regards to a GCR. Antigua and Barbuda’s Digital Assets Business Bill and Saint Kitts and Nevis Virtual Assets Bill are two pieces of legislation that allow registration of businesses interacting with cryptocurrencies. One step closer to allowing investors to pay for citizenship directly with crypto in the future. 

Central Bank Digital Currency (CBDC)

Similar to a blockchain-based currency, A CBDC is a digital version of a country’s fiat currency issued and backed by the central bank of that country. It operates on a centralized ledger and is subject to the central bank’s monetary policy. The purpose of a CBDC is to provide a secure and efficient means of payment while also providing greater transparency and control over the monetary system.

Central Digital Bank Currencies (CBDC) or Cryptocurrency in the Global Currency Reset

One of the biggest global currency resets will be a central bank digital currency or cryptocurrency. Governments favor a CBDC because of their ability to control and have absolute visibility. Cryptocurrency and peer-to-peer transactions do not offer the government such control. 

Is a Central Digital Bank Currency (CBDC) a Cryptocurrency without Privacy?

Governments are investigating the use of CBDC for a variety of reasons. One of the primary motivations is to increase financial inclusion. CBDCs could provide access to financial services for people who do not have access to traditional banking systems. 

By providing a digital payment system that does not require a bank account, CBDCs could help to reduce the number of unbanked individuals. Another potential benefit of CBDCs is improving payment system efficiency and leading to faster and more cost-effective transactions. 

CBDCs could also provide central banks with additional tools for implementing monetary policy. For example, a CBDC could have negative interest rates, stimulating economic growth during periods of economic downturn. Governments using a CBDC can offer greater protection to consumers against f***d and theft. All transactions are available on a secure, tamper-proof ledger. 

A CBDC will require its users to complete a KYC before being able to transact. There is the potential for privacy and encryption technology, but governments will unlikely align this way.

Global Cooperation of a CBDC as the Currency Reset

If Nigeria’s CBDC is anything to go by, there will be severe pushback from a large portion of the population. The opposing viewpoint from Nigerian citizens is the manner of design of the Currency, the lack of trust in the government and central bank, and the perceived benefits and drawbacks of the system. 

A CBDC raises privacy concerns using a centralized ledger to record all transactions. The CBDC would give the government or central bank issuing the CBDC a high degree of visibility into individuals’ financial activities. Although a global currency reset and CBDCs can include zero-knowledge privacy, there will be doubt among potential users. 

Alternatively, countries like El Salvador adopted Bitcoin as a legal tender and the use of StableCoins as transaction currencies. A stablecoin is pegged to the US dollar but is a cryptocurrency, allowing users to transact anonymously. Previously bankless citizens now being able to engage in financial transactions with relative ease.

Implications for Investors and Businesses

If privacy is not a concern for businesses and investors, a global currency reset can offer several benefits for business transactions. 

• Faster and more efficient payments;

• Lower transaction costs;

• Improved security and f***d protection; and 

• Increased access to financial services. 

Impact on Citizenship by Investment and Golden Visa Programs 

One advantage of using a CBDC for citizenship by investment is a easier and faster option for investors to transfer funds. CBDC  investors can move their investment funds more quickly and securely than with traditional payment methods.

Additionally, because the details of all transactions are on a secure, tamper-proof ledger, it may be easier for governments to track and verify investment transactions. Seeing each transaction could help to prevent f***d and ensure compliance with citizenship by investment program requirements.

Source: Global Residence Index

https://dinarchronicles.com/2024/09/16/the-global-currency-reset-and-the-future-of-a-global-currency/

“Tidbits From TNT” Monday 9-17-2024

TNT:

Tishwash:  Iraq offers 100 investment opportunities in November

The Investment Authority revealed the desire of Egyptian companies to enter as partners in the International Development Road project with the aim of establishing this vital corridor, while it will offer 100 investment opportunities at its forum scheduled to be held in early November.

 The Authority’s spokesperson, Hanan Jassim, said in a press statement that the Authority’s Chairman recently held an extensive meeting with a number of major Egyptian companies, during which they confirmed their desire to enter the local market on a large scale in order to employ Egyptian expertise in the fields of infrastructure, bridges, and electric power, in addition to building residential cities, as well as entering as a fourth partner in the International Development Road project with Turkey, Qatar, and the Emirates with the aim of establishing this vital corridor that shapes the future of the region’s economies for the next stage.

She added that the meeting witnessed an invitation to these companies to attend the investment forum that will be held early next November, during which 100 investment opportunities will be presented in all sectors.

She pointed out that the Authority has granted eight investment licenses in the housing, oil, gas, electricity and tourism sectors since the beginning of this year until now. 

Jassim explained that the residential projects included the Al-Ghazlani residential city in Mosul, covering an area of ​​4,700 dunums, as well as part of the Karbala City Banks project, covering an area of ​​100 dunums, in addition to a third project on another part of the Karbala City Banks project, covering an area of ​​1,400 dunums, in addition to the new Ali Al-Wardi City project in Baghdad, covering an area of ​​61 million square metres.

She added that the authority granted a special license in the electricity sector for a project to generate electricity through solar energy with a capacity of 1000 megawatts for a French company in Basra Governorate, as it is the first license of this kind within the government’s plan to diversify in the energy sector, in addition to other projects represented by the sustainable Baghdad forests in Rashid Camp, the Bani Omar gas field project in Basra Governorate, as well as another project to complete the axial weighing stations within the plan of the Ministry of Construction, Housing and Public Municipalities to protect bridges from large loads.

Jassim pointed out that the investment process in the country has taken a new pattern that will raise the level of services and urban development, noting that the amended Investment Law No. 13 of 2006 is attractive to investors due to the facilities it includes.    link

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Tishwash:  Iraq trades more than two trillion dinars electronically in a month

The Executive Director of the Iraqi Private Banks Association, Ali Tariq, revealed on Sunday the volume of electronic trading in the country during the month of August, confirming that it exceeded two trillion Iraqi dinars.

Tariq told Shafaq News Agency, "The value of electronic trading in the past month of August alone exceeded two trillion Iraqi dinars," indicating that "the amount was transferred and traded using electronic payment systems of various types, whether cards or payment systems."

Tariq pointed out that "the amount reached two trillion dinars for only one month, and this amount will double to more than that in the coming months."

He explained that the number of electronic cards reached 20 million cards, which means that approximately 50% of the Iraqi population own electronic payment cards, and some citizens own two or three cards.

Tariq concluded by saying, “The number of electronic payment devices in the public and private sectors has exceeded 30,000 devices.”

In October 2023, the Iraqi Council of Ministers issued several executive measures related to the electronic payment system and electronic points of sale (POS), and said at the time in a statement that they "aim to enhance the use of electronic payment in Iraq and facilitate financial and commercial operations."  link

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Tishwash:  Al-Sudani confirms Iraq's openness to partnership with all those wishing to contribute to the development road project

Prime Minister Mohammed Shia al-Sudani stressed, on Saturday, the necessity of intensifying research and explanations regarding the Grand Faw Port and Iraq's Development Road projects and the opportunities they will provide, noting that these two projects are a basic gateway to economic growth in Iraq and the region, and an important pillar for expanding the non-oil economy.

This came during the dialogue seminar held in the capital, Baghdad, under the title (The Path to Development - Opportunities and Development), in the presence of an elite group of economic experts, investors, businessmen and media outlets, according to a statement by Al-Sudani's office, received by Shafaq News Agency.

Al-Sudani stressed that the quadripartite agreement between Iraq, Turkey, Qatar, and the UAE constitutes the axis of operating the development road, but the project is open to positive partnership with all those who wish to contribute to this international development effort, stressing that the global economy today has come to depend on the main corridors for trade, manufacturing, and integration, and the development road project will be an important axis of these international corridors.

He pointed to the industrial cities that will be established along the road, starting with the industrial city in Al-Faw, which will transform Iraq from a country landlocked in commercial and industrial routes to an open country, through its contribution to expanding Iraq's maritime effectiveness and raising the importance of its ports, most notably the Grand Faw Port.

The statement pointed out that the symposium included several axes related to the strategic development road project, including the economic and developmental feasibility of the project, which constitutes one of the future paths of the Iraqi economy, and how Iraq will move through it to become a new major player in the international shipping and transport arena, in addition to the thousands of job opportunities the project will provide, mechanisms for developing partnerships with the private sector, and the challenges facing the partnership between the government and the private sector.  link

Mot: ..... HUH??????? 

Mot.. how to avoid Drama!!!! 

“Coffee With MarkZ” Monday Morning Chat 9-16-2024

Thank you MarkZ for all your time, and encouragement daily….. PDK

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: GM Everyone. Hope the weekend was a good break for you!

Member: Praying for some positive news this morning, boy do we need it.

Member: Good morning all!! Hopefully this is our week!!!!

MZ: It’s very possible this is our week…Lets see if all the hype is right

MZ: “ A parliamentary delegation to visit the Kurdistan region next week on the salaries of employees”  This article came out before the weekend….so it’s this week…..This is one of the hiccups that is keeping HCL from passing. So they are in the Kurdish region supposedly working on this….what is supposedly one of the last hiccups with passing publically the HCL….Maybe?.....Finally?  If we get the HCL we should get a new value on the dinar.  

MZ:    “Baghdad to host tomorrow the conference “Electronic push towards stability in Iraq”   This is also a big story as we see more and more banks are open…..They will be using XRP to move large sums in and out with seamless transactions on their new platform. They are right now more technically advanced than any other middle eastern country. They have laid the groundwork for exchanging and the movement of dollars/dinars.

Member: F26 source “Eddie” reported on Saturday that the salaries in Kurdistan have started paying equal pay for the Kurds starting yesterday (Sunday) Iraq was celebrating the prophet Mohammed’s birthday on Sunday , so the rate change announcement was delayed.

MZ: The chatter from Iraq has been exceptional.

Member: Chatter chatter everywhere but not coin to clink!

Member: So no lower denominations on the streets yet?

MZ: There are no lower denominations on the streets yet. Seems to be rumors so far….but, they have been preparing and training all the bank staff on the new lower denominations. If they did not have any plans on putting the into circulation soon….they would not be giving them cut sheets…or pictures on the security features….They would not be training them yet.

Member: At least the RV will be before the end of the year-according to Sudani.

MZ: Right now it is still pretty quiet on the bond front…and private banking front. We heard a lot of rumors over the weekend on more bond movement including the 1924 German bonds. There is still a tremendous amount of anticipation for mid-week this week.

Member: Mike Bara keeps posting about bond holders and getting their money

Member: Jon Dowling did a short video on xrp winning their case and quickly would rise in price in quick succession and this will kick Iraq into gear to revalue.

Member: Mark, over the weekend some reports were made that Canada Walmarts would no longer be accepting u.S. dollars by Sept 23. It said because of new security on the dollars. Could this be true?

MZ: It would not surprise me because we are supposed to be getting new bills. But this is very interesting news.

Member: I just got off the phone with Walmart Brooks Alberta Canada. Absolutely true…no USD

Member: Saudi Arabia is buying oil with the Chinese yuan.

MZ: “Saudi’s have joined Asian countries in ditching their long term sensitivity to the gold price” Evidence suggests the Saudis have covertly bought 160 tons of gold from Switzerland since 2022. Pay attention to this one . Jaimie Dimon last week was warning us on bank runs and collapses….Goldman Sacs are telling their wealthy clients to get out of the markets and buy metals….is anybody paying attention?

MZ: And yes…Saudi Arabia is pushing more of its petro sales in yuan…and doing away with petro purchases  in the US dollar.

MZ: Like Andy said…slowly, slowly…suddenly…..and the suddenly part is hitting.

MZ: And China is leaving the world bank….which means they have to have something else lined up because of their global ambitions.

Member: Mark…about a month ago you talked about how your contacts said your Dinar estimate was “way too low.” You were at like $3.70…so are we talking about $5? $7? $10?

MZ: All they are telling me is my estimates are way too low.

Member: (From Dinar Guru) Mnt Goat ...They don’t need any economic revival to put a fair market rate for the dinar back on FOREX. It is all a lie....They are “artificially” suppressing the rate of the dinar. When will this abuse of the dinar end?   I believe this end is near...

MZ: That is dead, spot on accurate. They are suppressing the price of the dinar

MZ: When I finish this podcast I will be traveling back home today….. Zester will be handling this evenings podcast …Tonight they are launching the new Liberty Financial system….Zester thinks its important to be here…

Member: I wonder how does all of this World Liberty Financial stuff tie in to our RV related stuff...

Member: Do you think the end of the US Fiscal year plays into the timing of resetting to an asset backed economy

Member: Wooooot. Another week down, and we begin another. Not everyone is blessed to be given a chance to have the time to perfect plans for life post RV.

Member: Safe travels today Mark….and thanks for all you do…..

Member: Thank you MarkZ! See you tomorrow. Safe travels!!!

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

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

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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.

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

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Iraq Economic News and Points To Ponder Monday AM 9-16-24

Economist: The Path Of Development Will Pass Through 12 Iraqi Governorates And Will Move Iraq To Global Status
 
 {Economic: Al-Furat News} The economic expert, Abdul Rahman Al-Sheikhli, confirmed that the development road will pass through 12 Iraqi governorates and will have great investment opportunities.  Al-Sheikhli said {to Al-Furat News} that:
 
“The development path will move Iraq from a regional to a global situation in terms of trade, as it will pass through 12 Iraqi governorates and will have great investment opportunities.” 

He added,  "The development road project will provide Iraq with great regional and international relations.  It will also attract Iraqi manpower, and we are optimistic about it." 

Al-Sheikhli continued,  "The stability of the security situation reflects the extent of interest in the future and the increase in investment opportunities in the country," noting that "the economic system in Iraq has changed since 2005 to a market system, and on this basis the system must be transformed from a rentier economy to a productive one."   
 
https://alforatnews.iq/news/خبير-اقتصادي-طريق-التنمية-سيمر-بـ12-محافظة-عراقية-وسينقل-العراق-الى-العالمية   

Governor Of The Central Bank Of Iraq: We Have Come A Long Way In The Process Of Reforming The Banking Sector

The Central Bank of Iraq participated in the conference on electronic payment towards financial stability in Iraq, which was held under the patronage of the Iraqi Prime Minister, Mr. Muhammad Shiaa Al-Sudani, and organized by the Association of Iraqi Private Banks, with wide participation of the parties concerned with electronic payment and the Iraqi banking sector.
 
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, said during the first session of the conference that the digital transformation movement in Iraq, especially the financial and economic part, constitutes a priority for the government and the Central Bank of Iraq and aims to provide the best banking services, stressing that there is a great movement to advance the digital transformation, which represents the sector.
 
Banking and finance are a major pillar of it.  He noted that despite the challenges and obstacles that the country has faced in recent decades, the   process of digital transformation is taking place quickly through the indicators available at the Central Bank, stressing that   it is moving in the right direction.
 
The Governor stressed that there is a very important aspect of keeping up with developments and changes.
 
There is direct communication with internal and external parties, which is at two levels.  The  first includes capacity building within the banking sector by providing competencies and various applications, as the Iraqi staff is characterized by adaptation and development, and the  second is cooperation.
 
The International Bank and the Central Bank of Iraq have broad and effective relationships with international financial and monetary institutions and banks around the world.

His Excellency revealed the process of reforming the banking sector, especially the government sector, noting that it has come a long way and it is now possible to implement what was stated in the Central Bank’s plan in the banking reform process until the end of this year.
 
Regarding the experience of digital banks, His Excellency the Governor indicated that the developments and employing them in a direction that serves the public made us move towards digital banks in Iraq as it is a new experience in countries of the world, indicating that
 
Iraq will be one of the countries that are progressing in digital banks as the number of requests for digital banks increases.
 
It reached 60-70 banks, and the bank will choose a limited number as a first stage, in accordance with the applicable controls and conditions, and it will be subject to an evaluation stage by the Central Bank of Iraq.   Central Bank of Iraq  Media office     September 14, 2024   uhttps://cbi.iq/news/view/2670   

Economist: The Free Bloc Is Estimated At 70 Trillion Dinars And Can Be Invested Electronically

Information / Baghdad... Economist Dr. Safwan Qusay confirmed today, Sunday, the existence of     about 70 trillion dinars of free monetary mass, pointing out the     possibility of investing it through switching to the electronic system in financial transactions.  Qusay told Al-Maalouma,

 “Focusing on investing in financial inclusion is accompanied by many benefits, the most prominent of which is withdrawing the free monetary mass outside the banking system, which is estimated at about 70 trillion dinars, that is, an average of 2 million dinars for every Iraqi citizen.”

 He added, "This amount could     lead to an increase in banks' liquidity and     increase their ability to grant grants through small and medium-sized income-generating projects or by     increasing the capacity of long-term strategic investment financing." 

He stated that"Iraqi banks have the qualifications to switch to the electronic system," noting that "the  transition of the financial sector to the electronic system with credit cards will pave the way for      attracting international investments and   increasing confidence in the Iraqi economy."  

https://almaalomah.me/news/76429/economy/خبير-اقتصادي:-الكتلة-الحرة-تقدر-بـ-70-تريليون-دينار-وبالامكا    

Central Bank: Electronic Payment Systems Have Contributed To Enhancing Iraq’s Compliance With Anti-Money Laundering
  
Economy   Iraq   breaking   Central Bank   Electronic payment   Compliance   Anti-money laundering
Shafaq News/ The Governor of the Central Bank of Iraq, Ali Al-Alaq, said on Saturday that the use of electronic payment systems and technologies used in the banking sector has contributed to enhancing compliance in combating money laundering in the country.

These statements were made by Al-Alaq on the sidelines of his hosting of the conference on electronic payment towards financial stability in Iraq, which was held in the capital, Baghdad, and was attended by a Shafaq News Agency correspondent.
 
The Governor of the Central Bank said that the world's focus today is on implementing compliance rules in combating money laundering, and that the  safety of banking operations is the safety of   
     society, the
     economy,
     internal and
     external banking relations, and others.

He stressed,  "There is a great focus on measuring the extent of compliance in each of the operations.
 
Therefore, when we apply anything within the framework of electronic payment and its various tools and channels or elsewhere, the question comes: 
 What is the capacity of compliance and governance in these operations?" Al-Alaq pointed out that 
 “when the conversation is about electronic matters, the application is easy and possible, and therefore the

      level of compliance is much better than the usual traditional operations, and is even
     faster and more accurate, and
     gives a complete detail of all operations.” He added,
 
"Today, in using personal cards, we have a complete and direct analysis of all transactions.
 
Where do they take place?
 
What type of operations take place?
 
Are they consistent with compliance standards, sources of funds, etc.?
 
In the process of analyzing data, it is possible to give us important results and redirect matters in a way that does not represent... Any kind of fraud or hacking.”   
 
https://shafaq.com/ar/اقتصـاد/البنك-المركزي-انظمة-الدفع-ال-لكتروني-ساهمت-بتعزيز-امتثال-العراق-بمكافحة-غسل-ال-موال   

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

Seeds of Wisdom RV and Economic Updates Monday Morning 9-16-24

Good Morning Dinar Recaps,

RIPPLE NEWS:  SEC’s Decision on Crypto Classification Ends XRP Lawsuit Appeal

In a major win for Ripple and the crypto industry, the SEC has officially decided not to appeal the XRP ruling, according to WallStreetBulls. This move marks the end of the highly publicized legal battle that’s loomed over Ripple’s future since December 2020.

The case, which revolved around whether XRP was an unregistered security, cast a shadow over Ripple and its market operations for nearly three years. However, with the SEC backing down, Ripple can now move forward without fear of further legal challenges.

What influenced this sudden turn of events? Let’s understand the SEC’s confusion!

A Shift in SEC’s Stance
The SEC’s decision not to appeal stems from its position in the ongoing Binance case. In this case, the SEC has acknowledged that crypto, by itself, does not meet the criteria to be classified as a security. This acknowledgment undermined the very foundation of its lawsuit against Ripple, leaving little room for an appeal.

The original lawsuit accused Ripple of selling unregistered securities through XRP sales. But with the SEC’s stance now shifting, continuing the fight would have been futile. This development not only brings relief to Ripple but could have long-term implications for other cryptocurrencies facing similar scrutiny.

Ripple’s Victory – A Game Changer for Crypto?
Ripple’s win is seen as a huge milestone for the broader crypto space. The SEC’s acceptance that crypto isn’t automatically a security could reshape how regulators treat digital assets. This case closure sets a crucial precedent, possibly helping other cryptocurrencies navigate regulatory challenges with more confidence.

Stuart Alderoty, Ripple’s Chief Legal Officer, added another layer of insight, reminding everyone that while Ripple’s battle is over, the “fair notice” defense remains vital for other crypto entities. 

He criticized the SEC’s reliance on the 2017 DAO report, stating it was confusing, and the SEC even apologized for the lack of clarity. This highlights that despite Ripple’s victory, there’s still work to clear up regulatory ambiguity in the industry.

As Ripple emerges from this legal saga, the focus now shifts to how this ruling will impact future regulatory actions. Will the SEC’s shifting stance lead to greater acceptance of cryptocurrencies? One thing is certain: this victory could open doors for more market adoption and provide a clearer framework for the future of digital assets.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

XRP NEWS: Robinhood Relists XRP After Ripple’s Legal Victory

XRP is back in action, breaking past $0.5900 and eyeing its July 2024 high of $0.6602, all thanks to Robinhood re-listing it on its commission-free platform! This comes as Ripple’s legal battle with the SEC officially ends, sparking optimism in the crypto community. While the addition of XRP to Robinhood’s crypto brokerage is exciting news, there’s more to the story let’s dig in.

XRP Listing on Robinhood – A Strategic Move?
Robinhood’s crypto arm quietly updated its supported assets to include XRP, alongside other coins like Bitcoin, Ethereum, and Shiba Inu. However, the platform hasn’t officially announced the move, leaving the community to discover the change on its help page. The catch? Only EU customers can currently trade XRP, leaving U.S. users waiting for potential updates.

While trading isn’t available yet, Robinhood users can now see XRP’s price chart, which is exciting for the XRP community. This could mean wider market access and more trading activity, which could make investors and fans hopeful.

Speculation around XRP’s return to Robinhood had been brewing, especially after the brokerage acquired Bitstamp, which supports XRP trading. However, the lengthy Ripple vs. SEC lawsuit had been a significant hurdle, now cleared after Ripple agreed to pay $125 million in fines, resolving the case without an appeal from the SEC.

More Listings on the Horizon?
With the lawsuit behind them, Ripple has newfound regulatory clarity, making XRP an attractive asset for exchanges and investors. Robinhood’s move could encourage other platforms to relist the coin as well, especially as XRP has seen a 3.75% rise in value, trading at $0.5898, outpacing other top 10 coins.

In addition to Robinhood’s listing, Grayscale’s launch of the first XRP Trust has further bolstered confidence in XRP’s future, with increasing prospects for a potential spot ETF. As Ripple emerges from its legal struggles, more support for XRP seems inevitable, with growing optimism for the coin’s adoption.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

BANK OF RUSSIA TO LAUNCH DIGITAL RUBLE PAYMENT INFRASTRUCTURE BY JULY 2025

The Bank of Russia aims to open the payment infrastructure for the Russian central bank digital currency (CBDC), the digital ruble, by July next year.

 Larger banks will offer digital ruble accounts and services by this deadline, with smaller institutions following later. The initiative seeks to enhance payment efficiency and reduce costs, with retailers also required to accept digital rubles. A pilot program is currently underway involving banks, individuals, and businesses.

Russia Plans Digital Ruble Rollout by 2025
The Bank of Russia has submitted a proposal to open the payment infrastructure for Russia’s central bank digital currency (CBDC), the digital ruble, by July 1, 2025, local media reported last week.

The largest banks in Russia will be required to offer services such as digital ruble accounts, transfers, and payments within their systems. The aim is to allow citizens and businesses to use the digital ruble alongside traditional payment methods like cash and non-cash transactions.

The central bank forwarded its proposed legal amendments to the Russian Ministry of Finance, establishing different deadlines for various financial institutions.

Larger banks are expected to be ready by July 2025, while others with a universal license have until July 2026. Smaller credit institutions must comply by July 2027.

 Retailers with annual revenues over 30 million rubles will also be required to accept digital rubles starting in 2025, with smaller businesses following in the next two years.

The Bank of Russia explained:

Both banks and trade and service enterprises will be able to implement their acceptance as their systems become ready.

The digital ruble is intended to improve payment systems by reducing costs and increasing efficiency. Payments will be made through a universal QR code system based on the NSPK platform, eliminating extra expenses for banks and businesses.

Digital ruble transactions for citizens will be free, and businesses will have the option to choose between digital and traditional rubles. Currently, a pilot program involving 12 banks is in place, and as of Sept. 1, the program expanded to include 9,000 individuals and 1,200 businesses. “People and businesses will choose which form of the ruble to use,” said the Bank of Russia.

@ Newshounds News™

Source:   Bitcoin News

  ~~~~~~~~~

Sen. Coons’ S. 4751 Could Limit Crypto Firms’ Ability To Challenge SEC

In July 2024, the U.S. Supreme Court's decision in Corner Post, Inc. v. Board of Governors of the Federal Reserve System expanded the ability of plaintiffs to sue federal agencies. The Court ruled that the statute of limitations to challenge an agency action starts when the plaintiff is harmed, not when the action occurs.

Justice Amy Coney Barrett's decision extended the timeframe for companies to file lawsuits against regulations, allowing challenges long after the rules are issued.

However, Senate bill 4751, the Agency Stability Restoration Act of 2024, sponsored by Sen. Chris Coons (D-DE), aims to limit this by setting a strict six-year statute of limitations from the date of the agency action, regardless of when harm occurs. Co-sponsors of the bill include Senators Dick Durbin (D-IL), Richard Blumenthal (D-CT), Mazie Hirono (D-HI), Cory Booker (D-NJ), Peter Welch (D-VT), and Sheldon Whitehouse (D-RI).

For the crypto industry, which has long been at odds with the Securities and Exchange Commission (SEC) under Chair Gary Gensler in particular, the bill could significantly impact its legal strategy. 

The industry's ability to challenge SEC enforcement under the Administrative Procedure Act (APA) often hinges on demonstrating harm from the agency’s actions. If passed, the Act would require these challenges to happen quickly, potentially before the full effect of regulations is known.

The Corner Post Decision: Broadening The Right To Challenge
In Corner Post, a North Dakota truck stop challenged a 2011 Federal Reserve rule on debit card fees, even though it didn’t open until 2018. 

The key issue was whether the six-year statute of limitations started in 2011, when the rule was issued, or in 2018, when the business was affected. In a 6-3 decision, the Supreme Court ruled the clock starts only when the plaintiff suffers harm.

Justice Barrett, writing for the majority, called the case “straightforward,” explaining that a claim under the APA doesn't begin until there’s a “complete and present cause of action.” Critics, like The Center for Progressive Reform, fear this decision will lead to lawsuits long after a rule is enacted, but Barrett argued that more time to sue doesn’t guarantee success.

@ Newshounds News™

Source:  Forbes

~~~~~~~~~

HEDERA CONTRIBUTES ENTIRE CODEBASE TO LINUX FOUNDATION

Hedera shifts toward open-source decentralization, transferring its codebase to Linux Foundation’s Decentralized Trust for global collaboration.

Hedera, a decentralized public network, announced that it has become a founding premier member of the Linux Foundation’s newly launched decentralized trust initiative.

The decentralized network contributed its entire source code, including its hashgraph consensus algorithm and all core services, tools and libraries, to the Linux Foundation.

Hedera’s contribution, which forms the new project “Hiero,” aims to allow developers to collaborate on decentralized trust technologies globally under an open-source and inclusive framework.

Project Hiero
Hedera’s decision to transfer its entire codebase to the LF Decentralized Trust initiative indicates a substantial shift toward decentralization.

Daniela Barbosa, GM of decentralized technologies at the Linux Foundation and executive director of LF Decentralized Trust, told Cointelegraph that open-source development is “essential for decentralized technologies.”

“At LF Decentralized Trust we believe that open source, combined with open development and open governance as part of a neutral foundation, is the future of decentralized technologies that will be adopted across enterprise, governments, and app ecosystems.”

Implications for developers
As Charles Adkins, president of Hedera, explained to Cointelegraph, the open-source model is anticipated to benefit developers by fostering collaboration and interoperability.

“By contributing Hedera’s codebase to Hiero under Linux Foundation’s Decentralized Trust, developers gain access to a more open, collaborative environment.”  Adkins explained that this development allows developers from “various ecosystems to engage with Hedera’s technology more easily, accelerating innovation and adoption."

Hedera joins the DeRec Alliance
On Sept. 5, Hedera and Cardano’s development arm, Input Output (IOHK), became the final founding members of the Decentralized Recovery Alliance (DeRec Alliance).

The two final members will serve on the Technical Oversight Committee for the next two years, helping shape policies and standards that simplify user experience and facilitate crypto recovery.

Leemon Baird, chief scientist at Hashgrapha and co-founder of DeRec, told Cointelegraph that it was “great to see the industry coming together” to address a “critical need for a safety net.”

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

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@ Newshounds News™

Source:  Source: Seeds of Wisdom Team Currency Facts 

~~~~~~~~~

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News, Rumors and Opinions Monday AM 9-16-2024

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

RV Excerpts from the Restored Republic via a GCR: Update as of Mon. 16 Sept. 2024

Compiled Mon. 16 Sept. 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Judy Note: From the below Intel it appeared that the RV began on Fri. 13 Sept. when banks received financial transactions and were given up to 72 hours to finalize them, or risk a fine of $20 billion per institution. The new Iraqi Dinar rate appeared to be active on bank screens, although it was still trading upward without a settled rate. Bond payments were expected to complete by next Wed. 18 Sept.

On Mon. 16 Sept. at 8pm EST President Trump was set to announce the launch of World Liberty Finance, where The People would have their own individual and secure bank account of which no banker, or anyone else, had control. It appeared to me that this would be the formal announcement of the Global Currency Reset including NESARA/GESARA activation.

Sat. 14 Sept. 2024 Wolverine: “The RV has begun. It is my opinion that notifications should be coming out Sun. 15 Sept, or tomorrow Mon. 16 Sept. at the latest. …All banks have paid the transactions released Fri. 13 Sept. in their accounts. Now they just need to send the notifications to those involved. You can celebrate because there is no turning back. They have up to 72 hours to finalize the transaction, with the risk of a fine of 20 billion per institution. The Hague Court entered this battle and brought order to this brothel.” https://www.in.gov.br/web/dou/-/resolucao-bcb-n-410-de-11-de-setembro-de-2024-584289886

Sat. 14 Sept. 2024 TNTRayren98: “Every source is saying it completed last night Fri. 13 Sept. We are awaiting start time.”

Sat. 14 Sept. 2024 MarkZ: “I finally found a bond person NOT under an NDA. A really big bond deal. I did a little poking and was informed there is a final bond contract getting paid on the 18th. I find this interesting because it appears that starting on the 18th they are not making them sign an NDA on bond deals. I did a quick search and found another bond holder with an appointment just after the 18th….none of those require an NDA. To me this is huge good news and means they plan on having most bonds done by the 18th because then it won’t matter about the secrecy.

Sun. 15 Sept. 2024: Iraq is currently receiving applications from their banking system to transition into the new digital economy. Between 60 to 70 banks have sent in their application to transition into International electronic platforms. This pretty much covers all of their Banks except for a handful. They’re still telling us that this aspect of their banking reforms will take till the end of the year, but we are seeing progress and lots of confidence in their new electronic banking system. This article goes on to tell us that they are in an accelerated stage and moving forward with intention and purpose. …Goldilocks on Telegram

The largest devaluation in history of the dollar begins next week. It won’t happen all in one week, but next week is when monetary policies change. …Goldilocks on Telegram

Read full post here:  https://dinarchronicles.com/2024/09/16/restored-republic-via-a-gcr-update-as-of-september-16-2024/

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

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

Mnt Goat ...They don’t need any economic revival to put a fair market rate for the dinar back on FOREX. It is all a lie....They are “artificially” suppressing the rate of the dinar. When will this abuse of the dinar end?   I believe this end is near...

Walkingstick   Aki was sent over there 3 months ago to Michigan to take care of one of the CBI satellite banks.  He's still sitting there.  You know why?  Because he's waiting for his next orders to open up that bank.  That tells me this is very close to popping at any moment.  If not they would not have sent Aki to sit there and wait all these months.  They would have sent him more towards the end of this year...To refresh your memory Aki will run one of the banks for the CBI in Dearborn Michigan representing the CBI...The CBI will have many of their private banks around the world collecting the 3 zero notes.

Michael Burry's Warning For The Stock Market Crash, Most People Have No Idea What's Coming Next

Millionaires Invest:  9-15-2024

Michael Burry, the famed investor known for predicting the 2008 financial crisis, has made a startling new prediction: he believes we're heading back to an economic environment reminiscent of the 1970 and early 2000s.

For those unfamiliar, the 1970s and early 2000s, these were tumultuous times marked by economic chaos and market bubbles. The stock market saw dramatic declines, losing half its value in just 15 months, unemployment rates soared, and inflation spiraled out of control with prices rising at unprecedented rates.

Most troubling, these issues weren't short-lived—they persisted for the entire decade.

 Burry now warns that we may be on the brink of repeating this grim chapter of history, driven by the unchanging nature of human behavior.

https://www.youtube.com/watch?v=3EY6fgtbqlA

IT'S OVER: Yellen Says "No Recession!" BUT U.S. Economy In Free Fall Collapse

Sean Foo:  9-15-2024

Either Yellen knows something we don't or she's gaslighting us on the state of the US economy. As major indicators start to collapse, she is still insisting on a soft landing.

However, she made the same fateful prediction back in 2007 as a Fed President. Here's what you must know!

Timestamps & Chapters:

0:00 Yellen Declares NO Recession

 2:38 U.S. Bankruptcies Explode

5:39 Deficit Nightmare Not Working

 8:22 US Earnings Collapse

10:52 Massive Gaslighting

https://www.youtube.com/watch?v=4MkKocB38zA

Iraq Dinar Update - #xrp, ripple, #iraqi dinar - Electronic International Payments - Private Sector

Iraq Dinar Update - #xrp, ripple, #iraqi dinar - Electronic International Payments - Private Sector

MilitiaMan and Crew:  9-15-2024

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=EJk5FHK6ZqA

Some “BRICS News” Sunday 9-15-2024

34 Countries Joining BRICS according to Russian President: The End of G7?

Fastepo:  9-15-2024

Russian President Vladimir Putin announced that 34 countries have expressed interest in joining BRICS, either formally or through various levels of engagement. During a meeting with senior BRICS officials focused on security matters, Putin emphasized Russia's commitment to the bloc's expansion as it assumes the 2024 chairmanship.

"More than three dozen countries, precisely 34, have shown interest in participating in BRICS activities in some capacity," Putin stated, underscoring Russia's priority to facilitate swift integration of new members.

As chair of BRICS for 2024, Russia has approached the role with a sense of urgency and responsibility, according to Putin. "Our chairmanship carries a special mandate: to ensure the seamless and accelerated integration of new member states into all BRICS mechanisms," he added.

 Putin highlighted the group's accomplishments in addressing global security challenges, including efforts to combat cybercrime and terrorism. "BRICS has developed a strong foundation of cooperation in areas such as counterterrorism, illegal arms and drug trafficking, transnational crime, and illegal migration,"

Putin said. He also pointed to the creation of a specialized electronic registry for sharing data on cyberattacks as a key achievement of the bloc’s collaborative efforts. This video explores the growing interest from potentials countries in joining BRICS and analyzes their potential contributions to the bloc.

 The discussion delves into how their membership could significantly expand BRICS' global influence and economic reach.

Through an in-depth examination of the economic, political, and strategic implications, the video offers insights into how BRICS might evolve in the coming years and what the inclusion of these new members could mean for the organization's role on the global stage.

https://www.youtube.com/watch?v=8nAuvk0YmmI

 BRICS Minister Confirms Plans For Gold Backed Currency (Will Gold Price Soar In October?)

Smart Silver Stackers:  9-15-2024

In a recent interview, Andrey Mikhailishin, the head of the task force on financial services of the BRICS Business Council, outlined a list of projects related to the establishment of a BRICS global payment system.

Of particular interest to gold & silver stackers, is that BRICS plans to peg their unit of exchange 40% to gold.

There are plans to announce aspects of these new projects at the October BRICS conference.

If an official announcement of a BRICS gold backed currency does take place, there could be a major impact on the gold price & the silver price

https://www.youtube.com/watch?v=kBlFx-RbkE8

BRICS vs. NATO: Turkey's Bold Move and the US Dollar's Future

Taylor Kenny:  9-15-2024

CHAPTERS:

00:00 - Turkey Joins BRICS

00:37 - A Growing Power Bloc with Global Ambitions

01:18 - Turkey's Military Strength and NATO Influence

 02:27 - Tensions Between Turkey and the U.S.

03:41 - A Strategic Asset

 04:59 - Challenging U.S. Dominance

 05:34 - What’s at Stake?

 06:40 - Turkey’s Future Role

https://www.youtube.com/watch?v=dkOECosuEi0

Iraq Economic News and Points To Ponder Sunday Afternoon 9-15-24

Central Bank Governor Ali Al-Alaq: 70 Digital Banks Have Submitted A License Application To The Central Bank

Economy  09/14/2024  Mawazine News – Baghdad  The Governor of the Central Bank of Iraq, Ali Al-Alaq, revealed today, Saturday, that 70 digital banks have submitted a license application to the bank, while indicating that digital banks are widespread in the world.

Al-Alaq said at the Electronic Payments Conference towards Financial Stability in Iraq: "Digital banks are widespread in the world, and their funds range from 5 to 7 trillion annually."

He added: "We conducted in-depth studies until we reached the establishment of rules for licensing these digital banks."

He pointed out: "We were surprised by the number of applicants for digital banks, which reached 60 to 70 banks, and we are in the process of studying the applicants' requests."

He continued: "We are keeping pace with developments and moving towards development, and there is communication with many external and internal parties, and it is on two levels that depend on the banking sector and the capabilities of the Central Bank to keep pace with development and contribute to developing various programs and applications," stressing that "the Iraqi cadre is distinguished by its ability to adapt and develop."

He pointed out that "the Central Bank has important contracts with specialized companies, and chooses international companies to develop and implement programs, in addition to international cooperation," noting that "the Central Bank has effective relations with international and global banks, in addition to electronic payment companies, as well as its relationship with central banks, and it has continuous movement in cooperation with important banks."https://www.mawazin.net/Details.aspx?jimare=254849

Government Advisor: E-Governance Application Contributed To Protecting Public Money And Reducing Corruption

Local |  09/14/2024   Mawazine News – Baghdad  The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Salih, confirmed today, Saturday, that the application of e-governance has contributed to protecting public money and reducing corruption, while pointing out that Iraq is witnessing a major boom in electronic payment systems and economic transformation.

The Prime Minister's representative, his financial advisor, Mazhar Mohammed Salih, said at the Electronic Payments Towards Financial Stability in Iraq Conference: "On behalf of the Prime Minister, I convey to you all his high appreciation for the International Payments and Banking Technologies Conference, due to the conference representing the major shift that Iraq is currently witnessing in the field of developing digital payments in the current information age and its contributions to enhancing financial stability in our country."

He added that "digital developments are one of the important infrastructures in protecting the national economy from external fluctuations and ensuring savings in the financial system, including banks, financial institutions, and the financial and banking markets in general in Iraq."

He continued: "It is no secret to everyone that the Iraqi government program emphasized the importance of e-governance and considered it an integral part of the economic reform policy and in a manner of financial and administrative transparency," indicating that "the major boom in electronic payment systems that Iraq is witnessing and the economic transformation is based on cash and its risks.”

He pointed out: "The vision policies launched by the government in implementing e-governance, returned for the sake of speeding up public collection, protecting public money and reducing corruption, because it is one of the most important systems for the transition from cash to digital payments in an accelerated manner."

He explained that "today, with the participation of international organizations, local interests, electronic payment companies, and the participation of the Association of Private Banks and His Excellency the President of the Arab Monetary Fund, we affirm without a doubt that development is important for integration into the global economy, which is essential for digital diversity and an important part, which encourages the flow of foreign investment to our country, development, innovation, e-commerce and digital development in Iraq."

He explained that "the great leap in the digital payments system in Iraq may be enhanced today by the physical and legal infrastructure provided by the Iraqi government, through the decisions taken by the Council of Ministers to facilitate the work of digital companies and improve the digital climate in Iraq." https://www.mawazin.net/Details.aspx?jimare=254858

Arab Monetary Fund: The Central Bank Of Iraq's Plans Have Enhanced Financial Stability And We Have Effective Joint Cooperation

Saturday 14 September 2024 | Economic Number of readings: 167   Baghdad / NINA / The Arab Monetary Fund praised the plans of the Central Bank of Iraq to enhance economic and financial stability.

The Director General of the Fund, Fahd bin Mohammed Al-Turki, said during the activities of the "Electronic Payment Conference towards Financial Stability in Iraq", which kicked off today, Saturday, in the capital, Baghdad, that "digital transformation is an important factor for the growth of the banking sector, and with the increase in digitalization, the use of artificial intelligence that contributes to uncovering banking fraud emerges."

He saw that "the various regulatory capabilities played a fundamental role in creating the digital regulatory environment to motivate banks and financial institutions to employ modern technologies towards digital transformation and banking services and enhance their efficiency and reduce risks, including cybercrimes."

He added that "the regulating legislation, electronic financial transfers, digital financial consumer protection and anti-money laundering requirements must achieve a balance between stimulating digital transformation on the one hand and managing and reducing risks on the other hand,"

indicating that "the good design of payment systems and ensuring environmental control between them and their interconnection with other systems such as credit systems would enhance the efficiency of digital transformation and economic growth opportunities."

Turki stressed that “digital transformation is a key factor in reshaping the banking sector in the Arab region. Governments and central banks can play a role in supporting digital transformation by creating digital regulation. This is evident from investing in digital infrastructure and addressing cybersecurity challenges, which helps create an environment that fosters innovation and growth in the banking sector.”

The Director General of the Arab Fund praised the announcement of the Central Bank of Iraq to work on many of these aspects, which makes the existence of a tight regulatory framework of utmost importance to enhance digital innovation, as governments should focus on equal opportunities and ensure that regulations are consistent to reduce risks. Investing in digital infrastructure would also stimulate digital banking services that help enhance access to banking services and products for the population using the financial system and non-using the financial system.

He added, "There is still a digital gap between developing countries and developed countries, which limits the spread of digital payments in some regions, in addition to relying on technology without creating alternative systems, which makes digital payments vulnerable to disruption in the event of any technical problems,"

noting the Governor of the Central Bank's talk about investing in infrastructure represented by the high use of mobile phones, especially in remote areas, and developing agency networks that meet the need of individuals to carry out withdrawal and deposit operations at the local and regional levels,

distributing the scope of digital identity, including electronic fingerprint systems, and expanding open application program interfaces that are available to the public so that developers can access software that represents property rights so that new applications can communicate and interact with each other. "./End5   https://ninanews.com/Website/News/Details?key=1153724

Chairman Of The Private Banks Association: We Have Registered More Than 13 Million Accounts And We Seek To Increase The Rate Of Financial Inclusion In Iraq

Saturday 14 September 2024 | Economic Number of readings: 38  Baghdad / NINA / The Iraqi Private Banks Association confirmed that there are efforts to reach a rate of 60% in financial inclusion operations in Iraq during the next year 2025.

The head of the association, Wadih Al-Handhal, said, during a dialogue session of the activities of the Electronic Payment Conference towards Financial Stability in Iraq, which was launched today, Saturday, in the capital, Baghdad, that "the rate of financial inclusion in Iraq has increased since the beginning of 2024 until last July by 48.5% during the current year."

He added, "We seek to reach 60% during the next year in financial inclusion operations," indicating that "the number of bank accounts in 2020 reached 6 million accounts, and reached 13 million accounts in 2023."

He spoke about the necessity of including financial inclusion in school curricula, starting from the primary grades and reaching universities, to know its details, practice it and learn about it, and we also have to train, then train, then train, then develop the infrastructure," stressing that the change is taking place from the Supreme Authority represented by the Prime Minister and his office. / End 5 https://ninanews.com/Website/News/Details?key=1153750

The Central Bank of Iraq announces the volume of Iraqi funds circulating in international digital banks

Economy  |  09/14/2024  Mawazine News – Baghdad  The Central Bank of Iraq announced, today, Saturday, the volume of Iraqi money circulating in international digital banks.

The Governor of the Bank, Ali Al-Alaq, said during his speech at the Electronic Payment Conference, that "the establishment of digital banks is important and indicates the transformation with the digital development that serves the many operations."

He added, "The amount of money circulating in international digital banks is 5 trillion dollars and is expected to reach 7 trillion dollars," noting that "60 to 70 banks are the size of the banks that have advanced to establish digital banks in Iraq."

Al-Alaq continued,   "The experience of government and private banks and the challenges and circumstances they face have resulted in the necessity of evaluating the existing reality and reformulating it in the necessary manner, and there are plans to restructure government banks to keep pace with all the steps of the company specialized in this matter."

He pointed out that "by the end of this year, there will be a preliminary plan to implement what was agreed upon regarding the reform of government banks, and that these plans will work to reform the banking sector in Iraq.

" He explained that "the advancement and development of the infrastructure of the banking sector is important for the Central Bank, and that the Central Bank has made great strides by establishing the National Payments Company."

He explained that "the national company will be at a level that is consistent with our ambitions to develop electronic payment." He added: "There is a great focus on measuring the degree of compliance with any of the operations." Al-Alaq confirmed: "We follow up on all cards, even personal ones, and know whether they comply with official standards and prevent hacking and fraud." https://www.mawazin.net/Details.aspx?jimare=254850

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