LITTLE BY LITTLE w/ G. Edward Griffin and Andy Schectman

LITTLE BY LITTLE w/ G. Edward Griffin

Andy Schectman:  9-25-2024

In today’s video, Andy reflects on a book that profoundly impacted his understanding of finance, history, and power structures—The Creature from Jekyll Island by G. Edward Griffin.

First published in 1994, this book uncovers the secretive origins of the Federal Reserve and dives deep into the world of banking, exposing the hidden forces shaping global economies.

Since his last reading, Andy has found even more meaning in Griffin's work. The book doesn’t just provide a history lesson—it reveals the mechanics behind financial systems, shedding light on how policies created in boardrooms ripple through society, often with devastating consequences for everyday people.

Andy explains how this eye-opening book has fueled his desire to educate and inspire others to look beyond mainstream narratives about money.

Whether you're curious about how the Federal Reserve came to be, or you want a better understanding of financial institutions’ roles in shaping our lives, this book has become a must-read for anyone passionate about financial freedom.

Andy shares his personal journey with the book, and how The Creature from Jekyll Island continues to resonate with him today, sparking conversations on truth, transparency, and control over our own futures.

https://www.youtube.com/watch?v=351Longuhlg

Wednesday Evening Chat With MarkZ 9-25-2024

Wednesday Evening Chat With MarkZ

MarkZ  Update- Some highlights by PDK-Not verbatim

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

The first 5-10 minutes there is no sound and technical difficulties

Member: Good evening to Mark, Mods and fellow hopium addicts.

Member: Hear anything good today Mark?

MZ:” A Delegation from the Parliament’s Finance heads to Kurdistan to discuss these files” When they are talking about files- they are also talking about tables or dollars. This is important because it is about the HCL….and they are pounding out the differences.   This is another big one.

MZ: “The governor of the Central Bank announces the imminent adoption of telephones in the completion of banking operations in digital banks.” Almost every Iraqi has a cellphone and they are adopting online banking.  This will make revaluation stuff simpler. This is part of the “white paper” reforms. We are seeing steady progress.

MZ: I am getting absolutely overwhelmed with bond contacts  Looking and believe and who have been told they will be completed early next week by the start of the new US fiscal year on Oct 1. It has become a deafening roar that they all expect funds on Monday or Tuesday . These are non NDA people….whereas the NDA people expect it sooner.

MZ: We will see if it comes to fruition.

Member: What does that mean for us ?

MZ: It means we most likely will go about the same time . As I understand it.

MZ: No update on CMKX…yet.

Member: I’m new. What is CMKX?

MZ: It’s the stock ticker for CMKM Diamonds. This is the largest lawsuit ever won against the United States. The SEC has pulled a lot of shenanigans and defrauded a bunch of people. We won the case in a landmark decision against the United States government. This is part of the settlements and we the stockholders want paid. The money is sitting around in trusts somewhere and Al Hodges and Mr. Mayhew tied it to asset backed dollars. …otherwise we would have already been paid in fiat dollars. .

MZ: That is the short of it .  .

Member: Thanks all….enjoy your evening….hope we all wake up to notifications.

MarkZ New Discord link:  https://discord.com/invite/AxGE6k4pvx

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

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

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

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

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

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

Youtube:     https://www.youtube.com/watch?v=sPEpa-Zkqcs

Bruce’s Big Call Dinar Intel Tuesday Night 9-24-24

Bruce’s Big Call Dinar Intel Tuesday Night 9-24-24  

Transcribed By WiserNow Emailed To Recaps

Welcome everybody to the big call - it is Tuesday, check my date on this -  September 24th and you're listening to the big call. Thanks everybody for tuning in tonight. Thank you, wherever you're listening. All over the globe - big call universe out there, we're excited and we welcome you're being welcomed into the big call tonight. I'm excited about what I want to share tonight – I know Sue is and Bob is also, so let's go ahead and pray  the call in.

Let's get into the Intel portion of the call and see where we are. First thing I want to talk about is the idea that as of tomorrow, 25th of September, there are no more  privatized  central banks around the globe. No more privately held, privately owned central banks.

Now, most of the Central  banks had orchid that might have been Rothschild that might have been what do you call it some of the other hierarchical people that own the banks.

And remember, our own Federal Reserve is one of those banks that is almost totally dissolved. It'll be gone by October 1, and might be gone mark, because the Fed is dead, basically, and that was owned by, I thought it was about 300 private individuals  based in Europe. I'm not positive about that. That's what I think I remember.

So, yeah, the fed was our Central Bank -  and now our central bank is the New People's Treasury, and this is what's based out there in the bayou reservation in Nevada, and that don't worry about anything. We paid off all our debts as far as the government is concerned – and we  have boo coo funds available in our new let's call it New People's Treasury.

Some of the guys referring to it as the people's treasury. I mean, be careful that, because it sounds like the People's Republic of China, but it's not.

This is our new treasury, which is ready to go with new USN on the designation on the bank screens and Forex as United States new – some say US Note -  but it is our new currency – no longer  USD for dollar.

Now, we may get switched around a bit, but right now, the USTN  - United States Treasury note is what we should have as our actual folding / put it in your pocket,  put it in your purse -  put it in your money clip type of cash money, okay, United States Treasury note.

Now, when will that come out? When will it be out? Out? We know it's in the banks we know it's in redemption centers but when will we see it ?  Own it – hold it  and pass and take it?  Probably after the NESARA is introduced  - which should be starting  October 1, which is a week from tonight, it should be starting then -  going back to Central  banks.

 Remember I told you -  I think it was last Thursday -  maybe a week ago today -  I told you about the Iraqi Bank, which was the Central Bank of Iraq – remember? the CBI. Well, the CBI became the SBI Sovereign Bank of Iraq, and that was they’re referring to their “new” central bank as their new central bank, as the sovereign Bank of Iraq. SBI, okay, no more CBI it’s  SBI  

And speaking about that and  Iraq - there was a flight made of some dignitaries and security teams last Sunday afternoon out of Iraq. It was coming to the US to meet with President Trump  and Judy Shelton and  some other people here, probably 20 and that was to put some things together.

I don't know what the results of that were when they're here or not, and whether they get it back to Iraq or not, but that is one little piece that came in, and for today, we're first  to bring that out  so that’s good.

Also, we are hearing we heard yesterday, which was a nonfall day, as you guys know, on Monday, Monday that one of our bond pay masters said that he understood that we would be getting our notifications, which is those are the emails which contain the 800 number for us to dial up to the call centers  and book our appointments - he said, in his opinion, what he was being told that would occur either today or tomorrow.

Well, it did occur today, but tomorrow is definitely in play to receive the 800 numbers, and we got another piece that came from our military -  part of the US Space force, they came in and said that the opinion of this person was through our additional military contacts that we would be notified tomorrow, Wednesday the 25th  

Now realize that you guys know when we get the numbers, when we get the emails that contain the 800 number, it's game over, because that is well over 50% of the game it's when we get those numbers, 800 number, and set our appointments. It's man, it's Katie  bar the door. It's all over but crying. We're ready to go. We're ready to set our appointments. We set our appointment, and then we go. It's that simple.

So at the redemption centers, I know that let's see. Was over the weekend, we had rates coming up on screens, not all the rates, though, this was as of Friday last Friday, with some rates showing on redemption center screens and rates coming up on bank screens for populating slow, blinking slowly, and that indicates that they get ready to stop and get solid, then we have those rates in that are potentially tradable.

That was not the case – as of Friday , and it was hard for us to have that during the weekend, but I believe probably by now or by tomorrow, things are moving along where we have those rates intact.

Hopefully that's the case. I know that. And we don't do rates per se on the big call. I told you guys, they should offer you the contract rate for your Dinar, and it's tied to the per barrel price of oil that is being sold out of Iraq, not to Iraq, but by Iraq to Egypt -  Turkey, to other countries that Iraq is exporting oil to, and and we did find out, let's see, what was that – one other thing?

One other thing that salaries are being paid out, I believe that either today or tomorrow, tomorrow, salaries in Iraq are being updated and paid out. And that's good. When they catch up on that and they get salaries paid in newly revalued dinar that is now it won't matter in country as much as it will for us, but that's a really good thing down rate don't have it

It was doing well upwards, and the hope is, course, that it produced to move up, and anything else is more or less. You know, I told you guys a long time ago, I think that most of those currencies except for zim and except  for the Dinar  and maybe, yeah, except for the Dong – those three -  

They're going to be stand outs -  really good, but the other currencies are going to be in the 4- $7 range, or that's where it is. But anyway, I think guys, if our intel holds up, and I've said this before, I know, but if it holds up and I’ve said this before – and watch me after the call tonight, I'll get slammed with some new Intel, probably tonight, late, maybe tomorrow.

But that doesn't help me, no, does it? That doesn't give me something to talk about right now on the call, but I think we're really we should get it now. Some people, and I know if you're reading online, and many of you do, you see things about October 1. So let's talk about what October 1 is.

One it's start of the new fiscal F-i-s-c-a-l -  fiscal, not physical.  Fiscal Year starting October 1. That'll be the last dayof the current Fiscal year Is September 30. Okay, so October 1, if I know my in my brain, calendar is also a week from tonight, a week from today, I have been told that this will go – meaning  our RV, our 800 numbers will go before the end of September, or by the end of September.

Some people believe, Oh, it's all going to go it's going to start on the first of October. That's not what we're getting. That's not what my sources are saying. They're saying we're going to get this before the end of the month, or by the end of the month, and we expect to see restitution and reclamation  allowance.

 We're also expecting to have debt forgiveness this month, although I'm going to make this a caveat -  we think that NESARA and we also heard President Trump today talk about GESARA – Global - economic, strategic and Recovery Act. GESARA is looming, looming, and that's what he said at his rally today in Savannah, Georgia.

So that's looming. And if GESARA is losing, I think NESARA is also looming -  And it could be that they both start being brought out October 1. I don't have that definitively -  except, but I believe that makes sense.

The new USN, the our new ustn, currency. Other aspects of NESARA, our new President Trump, is pushing for a 15% corporate tax rate,  but remember our consumption tax under NESARA for new goods and items, 15% for that as well.

 So you know that means that new items would have 15% in the price in contained within the price of new goods. Okay, that's what the intention is under NESARA

And that, if I understand that that 15% would be divided between states, individual states and collect tax and the federal government. I don't know if it's a 50/50, split. It might be favoring one or more than the other, but that is supposed to be what this contained under  NESARA  - debt relief, mortgage.

Zeroed out -  credit card balances are zeroed out, our restitution, Reclamation allowance coming back to us , all these things are part of NESARA. So will that start now, or will that start on October 1? I don’t know – We don’t know that -  we don't have that definitively, but I think it's around the corner for us.

Obviously, we're looking at the rate, rates and the exchange and the 800 numbers to get the RV and our blessing underway. That's our first concern, and the other things are added on to us. I guess you could say – we get that later.

So that's what I wanted to bring to you guys tonight. I feel good about where we are - I wish we knew absolutely that we would be getting notifications tomorrow, but we don't know that absolutely will. But let's see what happens. Let's wait and see

Okay, let's just see where this goes. I think we're halfway through our week, you know, Tuesday, oh Thursday, if we don't, but otherwise, we're ready to go a regular roll. And I'm hoping that we get numbers tomorrow and either start exchanges tomorrow or Thursday. Charlie Ward’s Thursday, all right, so we'll see what happens.

Bruce’s Big Call Dinar Intel Tuesday Night 9-24-24  REPLAY LINK  Intel Begins 56:36

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Bruce’s Big Call Dinar Intel Thursday Night 9-19--24  REPLAY LINK  Intel Begins   1:11:30

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Bruce’s Big Call Dinar Intel Tuesday Night 9-17-24  REPLAY LINK  Intel Begins 1:02:20

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Bruce’s Big Call Dinar Intel Thursday Night 9-12-24   REPLAY LINK   Intel Begins   1:13:30

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Bruce’s Big Call Dinar Intel Tuesday Night 9-10--24  REPLAY LINK  Intel Begins 1:07:27

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Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 9-25-24

Good Afternoon Dinar Recaps,

ETHEREUM IS A ‘DICTATORSHIP,’ CLAIMS CARDANO FOUNDER CHARLES HOSKINSON

Hoskinson says the Ethereum network is more like a “dictatorship” where Vitalik Buterin exerts too much influence over the development of the decentralized network.

Cardano’s Voltaire-era governance overhaul prevents it from becoming a “dictatorship” like Ethereum and sidesteps the “anarchy” of Bitcoin, its founder Charles Hoskinson said.

Speaking to Cointelegraph at Token2049 in Singapore, Hoskinson attacked Ethereum’s governance model, claiming it relies too heavily on its co-founder Vitalik Buterin for direction.

Hoskinson said that blockchains can elect to keep the protocol forever simple, like Bitcoin, or “pick a king” to run things. However, Cardano’s new governance model solves the “governance trilemma” of “efficiency, effectiveness and integrity” by using delegated representatives and a members-based organization called Intersect to distill complex governance topics down for a vote.  

“If you have those three things, then you have a fair shot of avoiding the anarchy of Bitcoin or the dictatorship of Ethereum, and you actually have something that can move forward with one voice, but it’s still decentralized at the end of the day because it represents everybody.”

Pressed to explain his controversial remark comparing Ethereum to a dictatorship, Hoskinson stated that Ethereum’s “entire vision” starts and ends with the 30-year-old Buterin.

Hoskinson at Token2049 in Singapore. Source: Cointelegraph

“Everybody looks to him for the roadmap. Everybody looks to him for inspiration, and he’s also the only person who has enough power to rally people,” he said. “If you were to remove him from the equation right now, what’s the next hard fork going to look like, and how quickly can they actually get there?” he asked.

Hoskinson said Buterin was primarily responsible for altering the Ethereum roadmap away from sharding-based optimization of the base chain and toward rollups and layer-2 networks for scalability.

In recent months, the Ethereum roadmap has been heavily criticized for empowering “extractive L2s” as fee revenue and activity on the L1 dropped.

“Where does this idea of embracing layer 2s or rollups come from? Was it some random Ethereum engineer — or was it Vitalik Buterin writing a blog post about it, talking about it, and advocating for it?”

Although Hoskinson believes Ethereum is heavily influenced by Buterin’s vision, Buterin does not wield unilateral power in the decentralized network.

The blockchain uses a mix of offchain and onchain governance, including the Ethereum Foundation and community and stakeholder input into Ethereum Improvement Protocols, with critical decisions taken at core developer meetings. Contentious decisions can result in a hard fork, as happened with The DAO hack rollback that resulted in Ethereum Classic.

Hoskinson was one of eight original co-founders of Ethereum and CEO of the Ethereum Foundation, but his for-profit vision for the protocol clashed with Buterin’s and the young creator fired him from the project at a meeting in Switzerland in 2014.

While Hoskinson conceded that he had played a broadly similar role in shaping Cardano since 201, he said the network’s new governance model is designed to ensure that “Charles, alive or dead, doesn’t matter. There’s still going to be innovation on a daily basis.”

Cardano’s Chang hard fork in early September turned its Cardano (ADA) asset into a governance token, enabling holders to elect representatives and vote on development proposals and on funding for community projects. The founding entities that have guided the project so far — the Cardano Foundation, Input Output Global and Emurgo — can no longer trigger forks and upgrades.

Hoskinson said the interplay between the members-based organization of researchers and engineers — dubbed Intersect — and the delegate representatives is a much more “collaborative model” that functions with or without an active founder.

“They can talk to each other, vote, and come up with and use a blockchain-based government to ratify a roadmap on a regular basis,” said Hoskinson.

Cardano is still working on finalizing a constitution that will likely set hard limits on some core issues, such as supply and how governance works.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

IRELAND TO STREAMLINE LICENSING PROCESS FOR CRYPTO BUSINESSES

Ireland's Central Bank is enhancing its authorization process for crypto companies as the European Union prepares to implement the Markets in Crypto-Assets Regulation. Deputy Governor Derville Rowland announced this development during a speech at AFME's 8th Annual European Compliance and Legal Conference on September 23, 2024.

The authorization process, which crypto businesses must complete to operate legally in Ireland, involves regulatory approval of a company's financial stability, risk management systems, and compliance with anti-money laundering regulations. 

Rowland stated, "We have been working to continually improve our authorisation process," adding, "Better risk assessment, better communication and better supervisory outcomes have been the output of that work."

This move comes as part of Ireland's preparation for MiCAR, a EU-wide regulatory framework for crypto-assets. MiCAR aims to establish consistent rules across EU member states for crypto-asset issuers and service providers. "We are working closely with our EU Peers and the ESAs to ensure the necessary coordination and consistency across Europe," Rowland said.

Rowland highlighted the significant potential of blockchain technologies: "We can see the many areas where the blockchain has significant potential to bring about positive change, even transformation, in how we do things. Whether this be tokenisation of investment products or improvements in post-trade infrastructure and interoperability, there are important positive stories to tell."

The Central Bank aims to strike a balance between innovation and risk management. "It is important that these benefits can be realised, whilst also ensuring that the risks are well understood and managed." Rowland also noted the key role of regulation: "Regulation plays a crucial role in the safe, and therefore enduring, adoption of innovation into the system."

Concerns Over Implementation And Compliance
While this move aims to simplify procedures, some industry representatives express concerns about potential challenges during implementation. "Talking about regulations in this industry is good, as governments are getting ready for mass-adoption.

The problem is, how will these regulations hinder development, and most importantly, deployment," says Daniel Logvin, CEO at LedgerByte. "Compliance is a very tough thing to achieve, especially when lots already have systems that work," Logvin adds.

"It provides increased regulatory clarity, which will help support institutional trust, investor confidence and consumer protection," notes Susana Esteban, Managing Director at FTI Consulting. However, she cautions that "It adds more compliance responsibilities (and potentially costs) for crypto companies and traditional financial entities working with digital assets."

Ireland's Potential As A Crypto Hub
According to an October 2023 article by Ben Strack in Blockworks, Ireland's appeal to crypto companies has been growing for years. The Irish government launched an "Innovation Hub" in 2018, facilitating engagement between fintech firms and the Central Bank of Ireland.

Coinbase opened its Dublin office in late 2018, while Gemini became the first Virtual Asset Service Provider (VASP) in Ireland in July 2022. MoonPay gained VASP status in August 2023, and Kraken received E-Money Institution authorization in September 2023.

"We welcome regulatory clarity and continued improvement and enhancements by regulators to adapt regulations to both protect users and markets but also balancing out the need to continue to foster innovation and growth," says Gracy Chen, the CEO of Bitget. 

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"Certainly Ireland is always high on the list for innovative companies to be based there as a global financial centre, its membership and access to the European Union as well as its favourable business environment including its deep talent pool. This certainly helps to encourage crypto-companies to consider Ireland more seriously as a base."

"If Ireland pairs this with tax incentives or a business-friendly environment, it could become a hub for crypto firms, but this legislation is EU wide and it may have some competition for business," suggests Richard Lofthouse the Head of Risk and Data Science at InFlux Technologies.

Balancing Regulation With Innovation In EU
MiCAR regulates previously uncovered crypto-asset activities in the EU, including their issuance, custody, administration, and trading on platforms and exchanges. 

"This could position the EU as a leader in crypto regulation, but being a leader in rules doesn't always translate to success in the market. It's important for the EU to find a balance between strong regulation and allowing room for innovation to stay competitive globally," Logvin states.

Esteban concludes, "Regulatory certainty can be a competitive advantage. MiCAR provides regulatory guidelines, which could make EU-based crypto businesses more attractive to institutional investors and partners, boosting their global credibility."

@ Newshounds News™

Source:  Forbes

~~~~~~~~~

GENSLER IGNORED DIGITAL ASSETS IN CONGRESSIONAL TESTIMONY BEFORE 4 HOUR GRILLING ON CRYPTO

Gensler defends SEC's stance on crypto amid congressional criticism over lack of clear regulations.

SEC Chair Gary Gensler faced criticism during yesterday’s congressional hearing over the agency’s approach to regulating cryptocurrencies despite omitting any mention of digital assets in his written testimony. 

Lawmakers and SEC commissioners questioned the effectiveness and clarity of current strategies, highlighting concerns about “regulation by enforcement” and the absence of explicit guidelines.

House Financial Services Committee Chairman Patrick McHenry noted that the House had passed the FIT 21 Act to establish clear rules and robust consumer protections in the digital asset ecosystem. “More than two-thirds of the House, including 71 Democrats, rejected Chair Gensler’s approach to digital assets by supporting clarity and consumer protection,” McHenry stated during the hearing.

The FIT 21 Act’s definition of decentralization was a point of contention. Some lawmakers questioned whether setting a 20% ownership threshold and allowing anonymous self-hosted wallets could hinder enforcement efforts and regulatory oversight.

Commissioner Hester Peirce criticized the SEC’s reliance on enforcement actions without providing clear regulatory guidance. “It’s a very bad approach to trying to regulate an industry if you’re trying to protect investors,” Peirce said. She emphasized that this method is inefficient, leaving market participants uncertain about the SEC’s authority and compliance boundaries.

Commissioner Mark Uyeda echoed the need for the SEC to articulate how existing securities laws apply to digital assets. “The Commission, for instance, could have articulated, specifically in the context of crypto and digital assets, how you apply this test,” Uyeda remarked, referring to the Howey Test used to determine whether an asset qualifies as a security.

Despite these criticisms, Gensler maintained that current laws regarding digital assets are sufficient and explicit. Gensler asserted,

“Regardless of where somebody stores their ledger if they tokenize a security—an equity, a bond, or an investment contract—it’s important to make sure that the investors and the investing public have the disclosures they need.”

He argued that tokenization does not alter the fundamental economics of an asset being a security.

Concerns were also raised about the influence of celebrity promotions and potential “pump and dump” schemes in the crypto space. Representative Bill Foster questioned whether the SEC has adequate authority to address issues where influencers promote investments without disclosing compensation. 

“I’ve heard concerns from industry participants about influencers, bloggers, celebrities, and others that use their celebrity status to promote investments without disclosing that they are, in fact, being paid to do so,” Foster said.

Gensler responded by saying,

“I would say I think the laws are strong. I mean, it’s always gaps in resources and we get, uh, on, on average a year 40 to 50,000 tips, complaints, and referrals. That’s, uh, What, 4, 000 a month or so.

And, uh, we, we have to prioritize those tips and complaints and referrals.”

The divide between the SEC’s current regulatory approach to crypto and the desire for more precise guidelines became evident throughout the hearing. 

While some commissioners believe that statutory definitions from Congress are necessary, others argue that the SEC could utilize its existing authority more effectively to provide clarity for the crypto industry.

The SEC’s written and oral testimony centered on topics like cybersecurity incidents, conflicts of interest in securitization markets, and enhancements to public reporting and data transparency.

However, the agency’s omission of any direct references to cryptocurrencies in its testimony highlights the tension between its priorities and the concerns of lawmakers and industry participants seeking regulatory clarity in the rapidly evolving digital asset landscape.

The call for clear rules of the road and robust consumer protections remains a pressing issue, with stakeholders advocating for a regulatory framework that fosters innovation while safeguarding investor interests.

@ Newshounds News™

Source:   CryptoSlate

  ~~~~~~~~~

HOW PARAGUAY IS REDEFINING BLOCKCHAIN SOVEREIGNTY WITH LEGALEDGER – NO MORE GAS FEES!

▪️Paraguay launches Blockchain Chamber, promoting sovereign blockchain innovation for government, finance, commerce, civil, and military applications.

▪️Legaledger, built on Hyperledger and Besu, eliminates transaction gas fees for military and legal operations under law 6.822/21.

Paraguay has taken a significant step in the blockchain arena by establishing the Paraguayan Blockchain Chamber, aimed at fostering financial innovation on a sovereign blockchain.

The chamber’s spokesperson and director, Ricardo Prieto, discussed the initiative’s main focus: developing blockchain solutions for both public and private sectors, including government, finance, commerce, civil, and military ecosystems.

The project, named Legaledger, is built on the Hyperledger and Besu platforms, marking it as the world’s first third-generation blockchain network with national sovereignty. It uniquely features an exemption from gas fees for transactions involving military and legal security, in accordance with Paraguayan digital law 6.822/21.

Prieto highlighted Legaledger’s innovative fractal architecture design, which is the first to employ a dual blockchain mechanism (Hyperledger Fabric + Besu) and has the capability for regional and global replication.

“The Blockchain Network has an innovative fractal architecture design, the first with a double blockchain mechanism (Hyperledger Fabric + Besu) and regional and global replication capacity, thus achieving frictionless interoperability between all countries,” the director explained.

This design facilitates seamless interoperability across countries. He referenced a recent report from the Bank for International Settlements (BIS) on the risks and uncertainties associated with Distributed Ledger Technology (DLT), emphasizing the challenge banks face in conducting due diligence and supervision due to reliance on third-party blockchains. The BIS report suggests operating with sovereign blockchain networks to provide legal security within a country.

In 2021, Paraguay enacted Law No. 6.822/21 concerning trust services for electronic transactions, electronic documents, and transferable electronic documents – referred to as the Second Floor Digital Law.

“With the Law, we began to design Legaledger (powered by Hyperledger Foundation + HSM), the first Blockchain Network with national sovereignty, without gas payments, with legal security and with the ability to be replicated in any country in the world with perfect interoperability. Frictions between all participating countries.”

With this law, Paraguay began designing Legaledger, powered by the Hyperledger Foundation and HSM, creating the first blockchain network with national sovereignty that does not require gas payments, offers legal security, and can replicate in any country with perfect interoperability.

“The idea of creating a third-generation blockchain network arises from the need to offer legal security to procedures and transactions carried out on blockchain, something that is practically impossible in global blockchain networks”.

Another benefit of this initiative is the digitization of governmental, civil, and military judicial procedures, and the tokenization of financial assets and real-world assets (RWA), all with absolute legal security. This effectively eliminates identity theft and fraud risks, such as rug pulls, according to Prieto.

Challenges have since the project’s inception in 2021, particularly in tokenizing real estate assets. Discussions with legal advisors revealed potential fraud risks in the approach, highlighting the distinction between possession and ownership.

The public registry, which involves notaries and others to secure transactions on paper, ensures legal security for property ownership, which is not guaranteed by public blockchain tokens alone.

Legaledger is designed to be fractal and can be implemented across companies, conglomerates, states, and countries, maintaining interoperability for what is called sequencing, publishing procedures, or transactions, including international operations.

“No country in the world has the digital law that Paraguay has (Law 6.822/21), however, in many countries apartments and other physical assets were being tokenized that did not actually connect real rights with the tokens created on public blockchains, as we know this is very easy.

Each country has its Public Property Registry Agency, in which notaries and others participate, to control the operation that is carried out on paper, to provide legal security regarding the ownership of the object in question.”

To perfect tokenization with legal security, a unique digital law is necessary to allow digitalization of rights over tangible and intangible assets on a sovereign Blockchain network. 

The resulting tokens must be managed and safeguarded within the network and can be bought, sold, or transferred digitally to anyone or any institution worldwide with legal certainty and without repudiation.

Ultimately, countries implementing a sovereign blockchain network with legal security will become an international digital jurisdiction, meaning the country will achieve a high level of procedure digitalization and asset tokenization within a legal framework and application scope without repudiation, concluded the spokesperson for the Paraguayan Blockchain Chamber.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

GCR - RV BREAKDOWN |  Youtube

@ Newshounds News™

Source: Seeds of Wisdom Team Currency Facts 

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More News, Rumors and Opinions Wednesday Afternoon 9-25-2024

KTFA:

Clare:  US Treasury: Supporters of Al-Sudani’s Reform Agenda

9/24/2024 Baghdad

The US Treasury Department confirmed, on Tuesday, its support for Prime Minister Mohammed Shia al-Sudani's reform agenda.

The ministry said in a statement, seen by "Al-Eqtisad News", that "Deputy Secretary of the Treasury, Wali Adeyemo, met with Iraqi Prime Minister Mohammed Shia al-Sudani on the sidelines of the United Nations General Assembly to discuss reforming the Iraqi banking sector, financial relations with the United States, and combating illicit financing."

The statement added, "The Deputy Secretary of the Treasury congratulated Al-Sudani on the great progress Iraq has made in reforming the banking sector, which has led to expanding Iraq's international financial connectivity and increasing financial inclusion."

According to the Treasury statement, Adeyemo affirmed “Treasury’s support for the Central Bank of Iraq and Prime Minister Mohammed Shia al-Sudani’s reform agenda.”

The Deputy Treasury Secretary praised the growth of the non-oil economy in Iraq by 6.0 percent, asking about "the steps the Prime Minister is taking to diversify the Iraqi economy from hydrocarbons," according to the US Treasury statement.

Earlier on Tuesday, Prime Minister Mohammed Shia al-Sudani received US Deputy Treasury Secretary Wally Adeyemo and a number of Treasury officials.   LINK

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

Clare:  The Governor of the Central Bank announces the imminent adoption of the phone in completing banking operations in digital banks

9/25/2024  Baghdad - WAA - Wissam Al-Mulla

The Governor of the Central Bank, Ali Al-Alaq, announced today, Wednesday, the success of the digital transformation and electronic payment plan in Iraq, while stressing that digital banks will allow citizens to manage their operations through the phone.

Al-Alaq told the Iraqi News Agency (INA): "Through the data that was discussed in the electronic payment conference, it clearly indicates the success of the digital transformation and electronic payment plan, and the percentage rose from 20 percent a few years ago to 48.5 percent, which is double the percentage," indicating that "this percentage came during the last two years." 

He added that "there is a major transformation supported by a national strategy and a serious and direct government direction by the Prime Minister and giving the issue the momentum it deserves by providing the necessary infrastructure," explaining that "Iraq now has advanced infrastructure to accommodate electronic payment tools and financial services of all kinds so that we can soon move to the transformation to digital banks in which the mobile phone will be the one leading the various operations.

This facilitates services for citizens, reduces the chances of fraud, reduces the chances of corruption, and provides important data at the national level on the nature of transactions, their content, and oversight of them and the compliance achieved through the large system." 

He continued: “Many requests have been submitted to the Central Bank to establish digital banks, and this is evidence that the trend is receiving the attention of investors. There are more than 60 requests that the Central Bank is currently examining carefully to be able to meet the requirements and conditions that achieve success, because we must ensure that the first step in digital banks is a successful step,” stressing “the conditions, controls and rules that digital banks operate under, but they represent a major shift in banking services, and through them, citizens will be able to manage their operations through mobile phones.”

He pointed out that "a large percentage of Iraqis own mobile phones, and this is an advantage that we must invest in to carry out this task."   LINK

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

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

Jeff   Pretty much everything happening right now, along with Sudani being in the UN, everything has to do with Iraq going international...

Frank26  [Iraq boots-on-the-ground report]  FIREFLY:
The television is running that report again along with commercials in this report about how we are reviewing the deletion of the zeros.  It's on the news.  It's been on the news all day.  The same report over and over again.  FRANK:  Because that is exactly what they are about to do.

Guest Guru Luigi1   Iraq is in a very good position right now, This is what Iraq & Dinarians were waiting for. Nations & corporations are lining up to get a piece of the pie.  There's opportunities for those that get in early on the ground floor...IMHO

Economic Crash Imminent: Moody's Predicts Further Economic Deterioration Unless Spending is Cut

Lena Petrova:  9-24-2024

https://www.youtube.com/watch?v=1VY72BWh7n4

FED. WARNS. (RED FLAG). CONSUMER (CON)FIDENCE CRATERS. HOME PRICES HIT NEW RECORD.

Greg Mannarino:  9-25-2024

https://www.youtube.com/watch?v=zndnA9CRCA4

Weaponized Dollar Pushing States to Gold and Sound Money

Weaponized Dollar Pushing States to Gold

Kitco News:  9-24-2024

In the ever-evolving landscape of finance and currency, the sound money movement is gaining ground across the United States. Recent conversations about this movement have been invigorated by an enlightening interview between Jeremy Szafron, Anchor at Kitco News, and J.P. Cortez, the Executive Director of the Sound Money Defense League.

This discussion shed light on key legislative victories and the broader implications of an economic shift that champions sound money as a means to secure financial stability for individuals and businesses alike.

One of the most impressive achievements highlighted in the interview is the removal of sales taxes on gold and silver in an astounding 45 states. This critical legislative victory reflects a growing recognition of the role precious metals can play in a sound monetary system.

By alleviating the tax burden on gold and silver transactions, lawmakers are incentivizing citizen engagement with these assets. This not only acknowledges their historical role as money but also empowers individuals with tools to protect their wealth from inflation and economic uncertainty.

The Sound Money Defense League has been at the forefront of these legislative efforts, advocating for laws that support the use of gold and silver as viable alternatives to fiat currencies. Cortez emphasized that reducing the tax burden on precious metals is essential for fostering a broader acceptance of sound money principles, thereby encouraging individuals to consider gold and silver as part of their financial portfolios.

Amidst growing global economic instability, the interview also touched upon the increasingly common trend of de-dollarization. As countries around the world seek ways to reduce their reliance on the U.S. dollar, there is an evident pivot towards alternative currencies, including gold.

This shift signals a fundamental transformation in the financial landscape, as nations explore the limits of fiat currencies and the potential stability offered by sound money.

Cortez rightly pointed out that gold has traditionally served as a hedge against the volatility of fiat currencies. In a world where inflation, fiscal policy missteps, and geopolitical tensions abound, the stability of gold becomes more appealing as individuals and countries alike search for safer investments. The growing recognition of gold’s relevance—both as a long-term investment and as a mechanism for financial resilience—is something Cortez emphasized throughout his discussion with Szafron.

As our economies become increasingly intertwined with technology and digital currencies, the necessity for a stable and dependable monetary system remains paramount. Gold’s status as a tangible asset, which has endured for thousands of years, provides a unique comfort in uncertain times. Whether individuals are investing to protect their savings or nations are re-evaluating their currency strategies, gold is emerging as a pivotal player in the evolving financial narrative.

Cortez’s insights serve as a reminder of the inherent value in diversifying one’s portfolio to include sound money options, especially amid turmoil in traditional financial markets. His belief that a robust sound money framework can lead to a more prosperous economy aligns with the growing awareness of the benefits that gold and silver can provide over ill-defined fiat currencies.

As Jeremy Szafron and J.P. Cortez discussed in their interview, the sound money movement is not just a niche interest anymore; it has grown into a significant movement with far-reaching implications.

The recent legislative victories regarding the sales tax exemptions for gold and silver reflect a shift towards recognizing the importance of sound money principles in everyday financial practices. With the world increasingly embracing de-dollarization and searching for safer investments, the role of gold as a hedge against fiat currency fluctuations has never been clearer.

As this movement continues to gain momentum in the U.S., it holds the potential to reshape the financial landscape in ways we are only beginning to understand. With organizations like the Sound Money Defense League leading the charge, the future of sound money looks not only promising but necessary for a more stable economic environment.

https://youtu.be/iDQS5dyco_8

https://dinarchronicles.com/2024/09/24/kitco-news-weaponized-dollar-pushing-states-to-gold/

Coffee with MarkZ and Andy Schectman. 09/25/2024

Coffee with MarkZ and Andy Schectman. 09/25/2024

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: Good morning everyone! We're running out of days in September... just saying.. let's go!!

Member: Another Wednesday - last one in September.. do we get the Budget posted to the Gazette? Do we get a rate today? Ah.. so many questions! Inquiring minds want to know!

MZ: Nader dropped a video earlier this morning “Treasury supports CBI of Iraq” I think this is important.  The US Treasury is supporting the Central Bank of Iraq. Why is this important? Over the last few weeks articles states Iraq has full control of its money …and now the US Treasury is saying the CBI is doing a great job….Troops are getting moved out….and they are openly talking about their project to delete the zeros. Imo opinions things are warm and fuzzy in Iraq even if we do not know the timing yet.

Member: A rumor:   They said that the navy was not to leave Iraq till the deal was signed.... They ship has left the station....

Member: JEFF RAHM said the Navy left Iraq after stating they wouldn't leave until the US was paid.

MZ: I have not heard that

Member: PPN also said US Navy was leaving Iraq. Maybe this is it!!!

Member: JEFF RAHM on FEARLESS FLOYD confirms that the US Navy left Iraq - Trump saying wouldn't leave until US was paid. USN possibly on Oct 01, insider info- CITI Bank -talking RV internally

Member: Also  Moon is due on the 29th, Oct. 1st Banks no longer except US Treasury Bonds as Collateral, US Ports Striking, Congress on a month break, Venezulean President Declared Christmas in October

MZ: On the bond side …overnight and into this morning they have been notified they will be going the first of next week and into the month of October. I verified this with bond holders that do not have an NDA. Bondholders now are NOT under an NDA. This makes me think that those previously under NDA’s have gone and are going now…..with full dollars over the weekend. I am very excited with this sudden bond news that started yesterday. Maybe this finally is it.

MZ: No news on specific currencies ….and nothing specific on CMKX yet. But I will keep digging.

Member: With no NDA’s maybe all those bond people next week will be shotgun starting with the rest of us????  A lot of big things looking to happen on Oct 1st which is Tuesday .

MZ: That’s what I thought….That we would go at the same time as our non-nda frinds…..Glad you caught that.

Member: I believe if we don’t RV this week or weekend- we will go on Oct 1st…or very soon after…with the government shutdown coming.

MZ: That is exactly my thoughts…I could be wrong but that is exactly my thoughts.

Member: And with currency auctions in Iraq ending  soon….we will see the RV…

MZ: Yes……many things appear to be coming together. I found 3 possible fiscal years in Iraq ….Part of Iraqs fiscal year ends along with the US governments on September 31st…part of iraqs fiscal year goes by the calendar year on December 31st. Another portion of it starts July 1st for some agencies in Iraq. So it is crazy trying to figure out the fiscal year in Iraq.

Member: Remember after we exchange- for safety do not go around bragging to everyone…..keeps lips zipped

MZ: Yes…do not rush out buying fancy and cars , jets and mansions immediately….If you do….I would say you are foolish and will paint a target on you and your families backs. You may be in danger of family who wants handouts, thieves, ect……..be smart and take your time.

Member: I wouldn’t be surprised that everything (the collapse) will happen so fast that no one will notice or care who’s had a sudden windfall.

Member: We may want to say to everyone- “I told you so”  but better to keep a low profile and just enjoy our new lives.

Member: If our new money will be gold backed….what happens with all the change we have in jars?

MZ: I am told our coins won’t change. We will get new notes…but coins will not change.

Member: Can you talk about the rate changes bankers were seeing yesterday?

MZ: Most of what my bankers saw yesterday –they think is a little low. Could be a place holder rate or a test rate or in-country rate?…but they are once again starting to see rates that are close to what we expect.

Member: I am still hoping and praying our exchange will not be taxed

Member: mark has said repeatedly no taxes …but if so he bought more currency to cover it

Member: I see retirement for us all in the near future……halleluia

Member: Another hurricane on the way…..Everyone stay safe in the path of the incoming storm's

Member: Every enjoy your day and God Bless.

MarkZ New Discord link:  https://discord.com/invite/AxGE6k4pvx

Andy Schectman from Miles Franklin joins the stream today …Listen to the replay for his opinions and 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=0ZxWdcPvLIY

Iraq News Highlights and Points To Ponder Wednesday AM 9-25-24

Parliamentary Finance: Iraq Is Experiencing Good And Stable Economic Conditions

Money and business  Economy News - Follow-up  The Parliamentary Finance Committee downplayed concerns about the decline in oil prices on the economic reality, stressing that Iraq's financial and economic conditions are good, and that revenues exceed the size of concerns resulting from the possibility of a decline in global oil prices.

Member of the Parliamentary Finance Committee, MP Jamal Kojer, said in an interview with “Al-Sabah” followed by “Al-Eqtisad News”, that “oil prices have not fallen to worrying levels, and therefore we are now in a stable economic situation with a financial surplus, and therefore we cannot talk about a crisis unless oil prices fall to less than $70.”

he member of the Finance Committee stressed that "Iraq has gone through many economic and oil crises in the past, but the financial situation has remained stable and there is no fear of a current crisis."

“According to the Financial Management Law, the 2024 budget was supposed to be submitted after the middle of October, but there is still a delay in the expected schedules, which may be submitted in the first quarter of next year,” Koger continued. The MP pointed out that “the majority of the 2023 budget has already been disbursed, with 9 trillion dinars disbursed two months ago, while the 2024 budget has not yet been disbursed due to changes in governors and attempts to introduce new projects.”

The member of the Finance Committee added, "As for liquidity, the government has guaranteed the liquidity of salaries, but there is a shortage in the liquidity of projects. However, the projects that have been started will continue, including bridge projects."https://economy-news.net/content.php?id=47985

Parliamentary Committee Reveals A Way To Increase The Price Of A Barrel Of Iraqi Oil To $2,500

09/24/2024  Mawazine News - Baghdad   The Parliamentary Oil, Gas and Natural Resources Committee revealed, on Tuesday, a way to increase the price of a barrel of Iraqi oil to $2,500.

A statement by the Parliament's media department received by Mawazine News stated that "the Parliamentary Oil, Gas and Natural Resources Committee, headed by the head of the subcommittee for following up and proposing legislation, MP Ali Shaddad, and attended by MPs Basem Al-Gharibawi and Zainab Jumaa Al-Moussawi, met with the Undersecretary of the Ministry of Oil for Refining Affairs, Hamid Al-Zubaie, and the Director of the Legal Department at the Ministry of Oil, Salam Hamdan, to discuss the Private Investment Law in Refining Crude Oil No. (64) of 2007."

MP Ali Shaddad explained, according to the statement, that “the committee has included in its strategy the amendment of five laws due to their antiquity, and has taken it upon itself to host those concerned in the Ministry of Oil and advisors in the Council of Ministers, and at other times it has gone to the Ministry of Oil to meet with the relevant departments and authorities; to save time and reach understandings between the legislative and executive authorities regarding the paragraphs of the laws to be amended.”

He added that “the Ministry of Oil has, for many years past, offered a group of investment opportunities in the field of refineries, which have not received real interest from investors and companies, and there will be no seriousness in investing in this sector; due to the current law not being in harmony with the aspirations of investors and the requirements of this stage, and hence the need to amend this law despite it having been amended twice previously.”

He added, "The subcommittee for following up and proposing legislation discussed the paragraphs that should be focused on in the law to attract investment in the refining sector, and that the goal of amending the law is to make investment in refineries successful and create an attractive environment for investment in refineries, which will positively reflect on the country's economy," noting that "the legal department in the Ministry of Oil has been assigned to prepare a draft law that will later be presented to one of the consultants contracted with the ministry to mature this draft.

" The representative stressed, "The committee is keen for the draft law to reach the House of Representatives complete in terms of legal, technical and economic vision," noting that "the current value of a barrel of oil is $70, but transferring this barrel to the refining and petrochemicals sector increases the price of the barrel to $2,500." https://www.mawazin.net/Details.aspx?jimare=255361

Parliamentary Finance To {Sabah}: No Economic Crisis In Iraq

First  09/25/2024   The Parliamentary Finance Committee downplayed concerns about the impact of falling oil prices on the economy, stating that Iraq's financial and economic situation is good. Jamal Kocher, a member of the Parliamentary Finance Committee, told Al-Sabah that "oil prices have not fallen to worrying levels,

and therefore we are now in a stable economic situation with a financial surplus, and therefore we cannot talk about a crisis. He added that there is no fear of a current crisis, noting that "the government has guaranteed the liquidity of salaries."   https://alsabaah.iq/103218-.html

Iraq Moves To Export Jet Fuel

Money and business  Economy News – Baghdad  The Oil Products Distribution Company, affiliated with the Ministry of Oil, announced today, Wednesday, that the strategic reserve of gas oil has reached 800 million liters during the current year, while it indicated that a plan has been put in place to export aviation fuel produced by the Karbala refinery.

The General Manager of the Oil Products Distribution Company, Hussein Talib, said: “There is a plan to export the surplus of kerosene and gas oil,” indicating that “the power stations that operate on Iranian gas will be operated based on the gas oil product.”

He added, "The strategic storage, which reached about 800 million liters during this year, contributed to passing the summer season, and the situation is now under control," noting that "electric power generation stations reached a consumption of 12 million liters per day from the existing production in refineries and refining capacities and what was built from strategic storage during the year 2024."

He added, "There is a plan to export aviation fuel, which is produced by the Karbala refinery because it meets marketing specifications, and also in the near future shipments of surplus gas oil will be exported,"

explaining that "according to the directives of the Prime Minister and his deputy, the Minister of Oil, there should be one million cubic meters of strategic storage of gas oil products, and the surplus should be for export purposes."

He pointed out that "the ministry achieved self-sufficiency in the production of kerosene and white oil, and stopped importing them." 09/25/2024 - https://economy-news.net/content.php?id=47999

US Treasury: Supporters of Al-Sudani’s Reform Agenda

Money and business  Economy News – Baghdad  The US Treasury Department confirmed, on Tuesday, its support for Prime Minister Mohammed Shia al-Sudani's reform agenda.

The ministry said in a statement, seen by "Al-Eqtisad News", that "Deputy Secretary of the Treasury, Wali Adeyemo, met with Iraqi Prime Minister Mohammed Shia al-Sudani on the sidelines of the United Nations General Assembly to discuss reforming the Iraqi banking sector, financial relations with the United States, and combating illicit financing."

The statement added, "The Deputy Secretary of the Treasury congratulated Al-Sudani on the great progress Iraq has made in reforming the banking sector, which has led to expanding Iraq's international financial connectivity and increasing financial inclusion."

According to the Treasury statement, Adeyemo affirmed “Treasury’s support for the Central Bank of Iraq and Prime Minister Mohammed Shia al-Sudani’s reform agenda.”

The Deputy Treasury Secretary praised the growth of the non-oil economy in Iraq by 6.0 percent, asking about "the steps the Prime Minister is taking to diversify the Iraqi economy from hydrocarbons," according to the US Treasury statement.

Earlier on Tuesday, Prime Minister Mohammed Shia al-Sudani received US Deputy Treasury Secretary Wally Adeyemo and a number of Treasury officials. https://economy-news.net/content.php?id=47975

Localization Of Employees’ Salaries And Border Crossings.. The Most Important Topics Discussed In The Meeting Of The Finance Committee With Erbil

Local | 01:58 - 09/25/2024  Mawazine News – Baghdad   The head of the Finance Committee, Atwan Al-Atwani, discussed today, Wednesday, during his meeting with the head of the Kurdistan Democratic Party, Masoud Barzani, the implementation of the provisions of the Federal General Budget Law, the oil and national wealth file, the settlement of employees' salaries, border crossings, taxes and customs.

The media office of the head of the Finance Committee stated in a statement received by Mawazine News, that "Atwan Al-Atwani and his delegation met with the head of the Kurdistan Democratic Party, Masoud Barzani, in Erbil, where the meeting discussed the overall political and security situation in the country, and ways to resolve the outstanding issues between the central government and the Kurdistan Regional Government of Iraq in a way that establishes a new phase of cooperation, coordination and understanding on the basis of respecting the Iraqi constitution.

" Al-Atwani reviewed "the files that the Finance Committee delegation came to discuss with the Kurdistan Regional Government, most notably the implementation of the provisions of the Federal General Budget Law, the oil and national wealth file, the settlement of employees' salaries, border crossings, taxes and customs, and other issues related to the financial aspect."

The statement stressed the "financial committee's constant efforts to find understandings that lead to radical solutions to the outstanding issues between the federal government and the region," stressing that "deferring the differences does not solve them, but rather increases their complexity."

Al-Atwani added, according to the statement, "We have sensed in the federal government a genuine desire to eliminate crises and begin the process of construction and development," noting that "achieving prosperity for the Iraqi people requires political stability." https://www.mawazin.net/Details.aspx?jimare=255405

Seeds of Wisdom RV and Economics Updates Wednesday Morning 9-25-24

Good Morning Dinar Recaps,

SEC Chair Gary Gensler grilled over crypto regulation, handling of DEBT Box case in heated congressional hearing

▪️Republican Majority Whip Tom Emmer got into a heated exchange with SEC Chair Gary Gensler during Tuesday’s hearing.

▪️Some lawmakers have criticized the SEC’s approach to regulating crypto over the years and say rules are not clear for the industry. Others say the SEC is doing its job by protecting investors.

U.S. Securities and Exchange Commission Chair Gary Gensler took the heat from both sides of the aisle during a congressional hearing over his handling of regulating the crypto industry.

In an intense exchange during a House Financial Services Committee hearing on Tuesday, where all five SEC commissioners were testifying, Republican Majority Whip Tom Emmer asked the SEC chair about its case involving crypto startup DEBT Box.

A federal judge in Utah criticized the SEC's handling of the case and said the agency acted in bad faith. The agency was ultimately ordered in March to pay sanctions, including attorney's fees and costs. The same judge also criticized what he characterized as the SEC's misleading statements, with the agency admitting it had fallen short of expectations.

"Does the fact that we're talking about this today even slightly embarrass you?" the Minnesota Republican asked.

"The matters in that case were not well handled," Gensler responded.

Some lawmakers have criticized the SEC's approach to regulating crypto over the years and say rules are not clear for the industry. Others, including top Democrat Maxine Waters say the SEC is doing its job by protecting investors and "ensuring our capital markets remain the envy of the world."

Tuesday's hearing also comes as elections are just around the corner where crypto has become a hotly contested issue. 

Crypto firms have so far spent $119 million in 2024, with almost all of the funds going into super political action committees, specifically the Fairshake PAC, according to a report last month from consumer advocacy group Public Citizen.

Emmer, who has been critical of the SEC chair, also asked Gensler about Vice President Kamala Harris' comments over the weekend about crypto. Harris said she would "encourage innovative technologies like AI and digital assets while protecting consumers and investors. We will create a safe business environment with consistent and transparent rules of the road," according to Bloomberg.

"Is this your approach too sir, or do you think she's rebuking you because she doesn't think you've done a good enough job establishing these clear rules over the last three years of her administration?" Emmer asked.

Gensler said laws are in place, but that Congress can change them.

Take me out to the ball game
Democrat Ritchie Torres also peppered Gensler with questions about how the agency defines securities, using a New York Yankees ticket as an example. The crypto-friendly lawmaker asked Gensler if selling a Yankees ticket to him would be a security and later pointed out that the ticket would give him "access to a Yankees game."

Torres' line of questioning comes after the SEC has charged multiple entities with unregistered securities offerings, including Stoner Cats 2 LLC for conducting an unregistered offering of NFTs that brought in $8 million from investors.

"From the standpoint of federal securities laws, is there a legal difference between buying a Yankee ticket that offers you the experience of a Yankee game and buying an NFT that offers you the experience of an animated web series?" Torres asked.

Gensler said it's about how something is offered and sold and if people are "looking to a common enterprise anticipating profits," citing the Howey Test. The test is based on a 1946 U.S. Supreme Court case frequently cited by the SEC, to determine if an asset qualifies as an investment contract and, therefore, a security.

"The expectation or promise that an object could appreciate in value or that an object could be sold at a profit in the secondary market, that expectation or profit could be retrospectively attributed to just about any collectible or any consumer good or any piece of art or any piece of music," Torres said.

Gensler said it's about how something is offered and sold and if people are "looking to a common enterprise anticipating profits," citing the Howey Test. The test is based on a 1946 U.S. Supreme Court case frequently cited by the SEC, to determine if an asset qualifies as an investment contract and, therefore, a security.

"The expectation or promise that an object could appreciate in value or that an object could be sold at a profit in the secondary market, that expectation or profit could be retrospectively attributed to just about any collectible or any consumer good or any piece of art or any piece of music," Torres said.

 @ Newshounds News™

Source:  The Block

~~~~~~~~~

BNY nears crypto custody for ETFs after SEC softens SAB 121 stance

Bank of New York Mellon will not be held to SEC accounting practices for client crypto custody after a review.

The Bank of New York Mellon (BNY) is moving toward providing custody services for its exchange-traded fund (ETF) clients’ Bitcoin and Ether after the United States Securities and Exchange Commission (SEC) gave it a pass on observing controversial crypto accounting guidelines.

The SEC’s Office of the Chief Accountant conducted a review earlier this year and concluded that the bank did not need to adhere to the SEC’s Staff Accounting Bulletin (SAB) 121, Bloomberg reported.

SAB 121 requires companies safeguarding client crypto assets to list them as liabilities in their accounting. It has been a thorn in the side of the US crypto industry since its introduction in April 2022.

The SEC loosens its grip
Other financial institutions may receive the same break, the SEC hinted. A spokesman told Bloomberg:

“Certain broker dealers and custody banks have sufficiently demonstrated to SEC staff that their fact patterns are different from those described in SAB 121.”

“As long as their customers receive the same protection for the safeguarding of crypto assets as they do in custody arrangements, their balance sheet treatment is also the same as custody arrangements,” the agency continued.

BNY would need the authorization of other regulators in addition to the SEC before it could begin offering custody services. It told Bloomberg:

“BNY has engaged, and will continue to engage, its banking regulators to offer custody services to crypto ETP clients at scale.” Source: Financial Services GOP

 SAB 121 is a source of endless controversy.  

The inconvenient SAB 121 caught the world unprepared. Coinbase’s Q1 2022 financial report led to false speculation that the company was unsound after it incorporated the new accounting.

In June 2022, politicians joined the fray for the first of many times by writing to SEC Chair Gary Gensler complaining of “regulation disguised as staff guidance.”

The Government Accountability Office examined the guidance at the urging of pro-crypto Senator Cynthia. In October 2023, it determined that SAB 121 was subject to the Congressional Review Act, which requires agency rules to be submitted to Congress with a procedure for disapproval.

A coalition of the Bank Policy Institute, American Bankers Association, Financial Services Forum and Securities Industry and Financial Markets Association sent a letter to Gensler in February asking that traditional assets recorded on blockchain be exempted from the requirements of SAB 121.

Despite the pressure, the SEC held tight to the guidance, and legislation was passed to overturn the guidance in May. US President Joe Biden vetoed the legislation the following month.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

Gensler grilled as most ‘destructive’ SEC chair during congressional hearing

SEC Chair Gary Gensler faced criticism from lawmakers and agency members during a House Financial Services Committee hearing over his handling of crypto regulation in the United States.

United States Congressman Tom Emmer slammed SEC Chair Gary Gensler during a congressional hearing, calling him the most “destructive” and “lawless” Chair in the regulator’s 90-year history.

“You’ve made up the term crypto asset security. This term is nowhere to be found in statute, you made it up [and] you never provided any interpretive guidance on how crypto asset security might be defined within the walls of your SEC,” Emmer told Gensler before a House Financial Services Committee hearing on Sept. 24.

Emmer said the term had served as the entire basis for Gensler’s “enforcement crusade” against the crypto industry for the last three years. This was up until last week when SEC lawyers retracted the term in a court footnote.

“Your inconsistencies on this issue have set this country back. We could not have had a more historically destructive or lawless chairman of the SEC.”

Emmer also grilled Gensler over his agencies’ handling of the Debt Box case — a case where the SEC sued a crypto startup for an alleged $50 million fraud scheme. The case against Debt Box was dismissed on May 28, and the SEC was ordered to pay $1.8 million in fees.

Emmer said the SEC attorneys crafted a series of lies in the Debt Box case to “effectuate the commands” of Gensler’s “anti-crypto rhetoric” and regulation-by-enforcement agenda.

“The matters in that case were not well handled,” Gensler said in response to Emmer’s questioning.

SEC ‘should have admitted long ago’ that crypto tokens aren’t securities: Peirce

Gensler also faced heat from within his own ranks, with SEC Commissioner Hester Peirce saying the SEC’s move to retract the term crypto asset security in court last week should have happened “a long time ago.”

“[By] tucking into a footnote, we admit that now actually the token itself is not a security. That's something that we should have admitted long ago,” the pro-crypto SEC commissioner explained.

“We’ve fallen on our duty as a regulator not to be precise,” Peirce said.

When asked whether crypto tokens need a statutory definition to ascertain how they apply to securities laws, Peirce responded: “It’s always helpful to have Congress weigh in, but there certainly are some guidelines we could provide in this area that we have chosen not to provide.”

“But a statutory definition would help well I always welcome the input of Congress.”

Gensler confirms SAB 121 rule will stay in place

Despite calls from 42 US politicians to rescind the SEC’s Staff Accounting Bulletin No. 121 rule, Gensler said it will remain in effect.

“No, it’s a good accounting bulletin,” Gensler said in response to a question from House Rep. Wiley Nickel about whether the SEC would rescind the rule.

The SAB 121 rule mandates SEC-reporting entities that custody crypto to record those holdings as liabilities on their balance sheets. A SAB 121 repeal bill received bipartisan support in Congress before being vetoed by President Joe Biden in June.

Gensler claims it will help public companies understand the risks associated with holding crypto, pointing to FTX, Terraform Labs and other crypto bankruptcies.

Nickel didn’t bite, claiming that SAB 121 actually makes the digital asset ecosystem “less safe.”

Nickel recently claimed that SAB 121 would prevent US banks from custodying crypto exchange-traded products at scale, creating a “concentration risk” by handing more control over to non-bank entities.

With the rule now in place, Nickel slammed the SEC’s Office of the Chief Accountant for recently exempting Bank of New York Mellon from the balance sheet reporting requirement — arguing that it will lead to “different rules for different folks.”

But Gensler disagreed: “It’s actually the same rules for different folks.”

@ Newshounds News™

Source:  CoinTelegraph

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AHEAD OF TODAY’S CONGRESSIONAL HEARING ON SEC OVERSIGHT, REPUBLICANS URGED GENSLER TO REPEAL  |  Youtube

@ Newshounds News™

Source: Seeds of Wisdom Team Currency Facts 

  ~~~~~~~~~

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“Tidbits From TNT” Wednesday Morning 9-25-2024

TNT:

Tishwash:  Parliamentary Finance: Iraq is experiencing good economic conditions with a financial surplus

The Parliamentary Finance Committee downplayed concerns about the decline in oil prices on the economic reality, stressing that Iraq's financial and economic conditions are good, and that revenues exceed the size of concerns resulting from the possibility of a decline in global oil prices.

Member of the Parliamentary Finance Committee, MP Jamal Kojer, stated in a statement to the official newspaper, followed by (Al-Rabia), that “oil prices have not fallen to worrying levels, and therefore we are now in a stable economic situation with a financial surplus, and therefore we cannot talk about a crisis unless oil prices fall to less than $70.”

The member of the Finance Committee confirmed that "Iraq has gone through many economic and oil crises in the past, but the financial situation has remained stable and there is no fear of a current crisis." link

Tishwash:  Parliamentary Finance: Iraq is experiencing good and stable economic conditions

The Parliamentary Finance Committee downplayed concerns about the decline in oil prices on the economic reality, stressing that Iraq's financial and economic conditions are good, and that revenues exceed the size of concerns resulting from the possibility of a decline in global oil prices.

Member of the Parliamentary Finance Committee, MP Jamal Kojer, said in an interview with “Al-Sabah” followed by “Al-Eqtisad News”, that “oil prices have not fallen to worrying levels, and therefore we are now in a stable economic situation with a financial surplus, and therefore we cannot talk about a crisis unless oil prices fall to less than $70.”

The member of the Finance Committee stressed that "Iraq has gone through many economic and oil crises in the past, but the financial situation has remained stable and there is no fear of a current crisis."

“According to the Financial Management Law, the 2024 budget was supposed to be submitted after the middle of October, but there is still a delay in the expected schedules, which may be submitted in the first quarter of next year,” Koger continued. The MP pointed out that “the majority of the 2023 budget has already been disbursed, with 9 trillion dinars disbursed two months ago, while the 2024 budget has not yet been disbursed due to changes in governors and attempts to introduce new projects.”

The member of the Finance Committee added, "As for liquidity, the government has guaranteed the liquidity of salaries, but there is a shortage in the liquidity of projects. However, the projects that have been started will continue, including bridge projects   link

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Tishwash:  Rafidain announces collecting 3 trillion dinars from taxes within 9 months

 Rafidain Bank announced today, Wednesday, that it collected 3 trillion dinars from taxes during 9 months of the current year.

The bank's media office stated in a statement received by the Iraqi News Agency (INA), that "the total amounts of financial settlements related to electronic collection movements from state departments and institutions that have activated electronic collection and switched to electronic transactions and collected bills and fees from beneficiaries electronically via bank cards and  POS devices , is 3 trillion dinars during the first nine months of the current year."

He added, "This achievement represents the great interaction using electronic payment in financial transactions and ensuring the preservation of money movement paths and making them in a safe and transparent environment."  link

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Tishwash: An imminent process to change the skin of the Iraqi dinar.. Removing zeros will reveal the extent of currency manipulation

Government advisor: It must be preceded by political and economic stability

There has been talk once again about the possibility of removing zeros from the local currency, as the government is studying a bold option of changing the Iraqi dinar to its skin. Although this step carries promises of simplifying financial transactions, it raises concerns about its effects on the economy and citizens, especially in light of the inflation that the markets have been witnessing for a long time .

During the current month, the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, revealed new information regarding the project to delete zeros in Iraq, indicating that “the project is undergoing continuous review and study, taking into consideration the existence of an issued currency volume that has exceeded 100 trillion dinars, after it was 6 trillion in 2004. ”

Many countries take the step of removing zeros from their currency to revalue their national currency , and facilitate financial transactions by removing a certain number of zeros from the nominal value of the currency, making it appear less inflationary and more stable .

60countries experience

“Removing zeros from the local currency is a process that has taken place in more than 60 countries over the past years,” said Mazhar Mohammed Saleh, the Prime Minister’s financial advisor. “This step comes after economic inflation occurs in countries, and therefore they resort to deleting zeros in order to keep up with prices in the markets,” he explained. 

In an interview with Al-Jabal, Saleh continued, saying, “The abundance of zeros has doubled the monetary value of the currency now,” adding, “Political and economic stability must be achieved before resorting to deleting zeros.” 

According to Saleh, the process of deleting zeros will facilitate the financial trading process, in addition to facilitating the calculations, and will not affect the value of the currency and all goods in the market, pointing out that this process will also allow the issue of trading small currencies in the markets, which supports the poor class of society .

The Iraqi Council of Ministers (February 7, 2023) approved the decision of the Board of Directors of the Central Bank to adjust the exchange rate of the dollar against the dinar, equivalent to 1,300 dinars per dollar, after it was 1,480 dinars per dollar, which, according to observers, caused a significant decline in the value of the Iraqi dinar in the markets .

 What about the value of the dinar?

 In this regard, financial expert Mahmoud Dagher told Al-Jabal, “There is a high committee formed within the Central Bank that is continuing discussions and studying the deletion of zeros from the local currency of Iraq,” indicating that “the numbers on the currency have become very large, which is the main reason behind this process.” 

Dagher, a candidate for a senior position at the Central Bank, added, “The most prominent positive aspect of removing zeros from the currency is strengthening the psychological aspect of the currency by reducing the volume of transactions,” adding, “Removing zeros does not change the value of the money nor does it affect the volume of demand and the monetary mass.” 

" Iraq currently has a currency issue exceeding 100 trillion dinars," said Dagher, who pointed out that "there is a negative point resulting from this process, which is the large financial costs to cover this process, and therefore the committee needs to study all economic aspects before making the final decision." 

According to Dagher, changing the currency will lead to the Central Bank controlling the amount of cash liquidity outside the banking system and knowing the amount of currency available, stressing that this process will work to uncover manipulation, financial theft, and other things .

According to the circulated data, the foreign reserves of the Central Bank of Iraq cover 83.62% of the broad money supply, which is enough to cover the cost of imports for 15 months, while the global standard rate is 20 %.

Expected effects

According to the specialists’ view, the process of deleting zeros from the Iraqi local currency has many positives, as well as negatives, which can be summarized as follows :

The positives include: First: Simplifying calculations, as removing zeros will contribute to simplifying calculations and facilitating dealing with money .

Second: Improving the image of the currency, as deleting zeros may give the impression that the Iraqi currency has become more stable and stronger .

Third: Attracting investments, as this process may encourage investors to invest their money in the Iraqi economy .

As for the negatives:

 First: High costs, as implementing this project requires large costs to change banknotes and coins, and update electronic payment systems .

Second: Temporary confusion, as citizens may face some confusion in the first period after implementing the decision .

Third: The reform is not sufficient, as deleting zeros is only one of many measures necessary to achieve economic stability .

Steps to strengthen the dinar

In this regard, Drid Al-Shaker Al-Anzi, an economic expert, told Al-Jabal, “The Central Bank’s attempts to improve the reality of the local currency are many, but they always come to no avail.”

The Central Bank owns about $115 billion, 140 tons of gold, in addition to $43 billion in central treasury bonds, and $36 billion accumulated in savings at the Federal Reserve deposited in (JP Morgan), but they "did not and will not affect the strength of the Iraqi currency," according to the economic expert .

 Al-Anzi believes that “linking the Iraqi currency’s evaluation completely to the dollar through negotiations with the US Federal Reserve will allow for improving the strength of the Iraqi dinar,” stressing that this step will make the Iraqi dinar “stronger than the Jordanian dinar . ”

Al-Anzi points out that "the step of deleting zeros is not useful in improving the value of the Iraqi dinar compared to the countries of the region," considering that "it is a step that will only change digital transactions and has no positive value   link

Mot: Amazing how I can Still get Around !!! 

Mt: siiiggghhhhhhh -- Been un of Those Daze!!! 

News, Rumors and Opinions Wednesday AM 9-25-2024

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.

Judy Note: I will not be putting out an update tonight for Wed. 25 Sept. To me, it still sounds pretty solid that everything is going to start happening on Tues. 1 Oct. – the EBS, notification for appointments, starting of the 10 days of communication darkness, complete US government shutdown and I don’t know what else. Readers need to prepare. Our world is changing.

Ariel : So Many Things Converging at Once on October 1st, Game Over

Tuesday, 24 September 2024, 22:56 PM

OPEC+ nations may announce further cuts to oil production, which could lead to higher energy prices globall

The Port is supposedly going on strike as union workers demand a 77% raise.

After a long pause, millions of Americans will have to start repaying student loans, impacting disposable income

Basel 3 is supposed to go into effect that will change the real estate market forever.

LIBOR is supposed to be replaced by SOFR.

Key corporate earnings reports and economic forecasts are due, which could influence market sentiment significantly, particularly in already volatile financial markets.

Imposition of new tariffs as trade negotiations continue to strain between major economies, affecting prices of imported goods and manufacturing.

Government Shutdown is hovering over that date as well.

Certain pandemic-related housing protections, including eviction moratoriums and mortgage forbearance programs, are set to expire.

Rising interest rates and global economic pressures are heightening fears of a debt crisis in emerging markets, potentially leading to currency issues.

October 1st marks the beginning of the new fiscal year for many organizations, leading to budget reallocations, layoffs, or strategic pivots.

We are heading towards historic events that will change the course of this country forever. And the Deepstate knows there is no going back from that point. So expect them to throw everything at us. Because for them our future is going to be their end. And they do not want you making it to that opportunity to remove them from this planet forever. So be prepared for anything and everything. Nothing to fear. Nothing to run from. As I told you yesterday. You hold the cards now.

Goodluck.

𝙂𝙖𝙢𝙚 𝙊𝙫𝙚𝙧!

Freedom
Liberty
Law & Order
Prosperity

We are about to embark upon a historic endeavor ladies & gentlemen. We have been waiting for this moment and it is finally here. Things will start to move at a high pace after October 1st. Which means the Caball will ramp up their desperation to maintain power. But this will not stop anything. We are about to take back full control of this nation. And we will be compensated for sticking it out and making it to this pivotal point in history.

 What Does This Mean For The Average Person?

With regulated financial institutions now allowed to custody Bitcoin and crypto, digital assets are gaining legitimacy and moving closer to mainstream adoption. This paves the way for broader acceptance in everyday financial systems. Allowing established institutions to hold crypto provides an extra layer of security and trust, reducing the fear of hacks and scams that have plagued unregulated exchanges. It creates a safer environment for both new and seasoned investors. Traditional banks offering crypto custody services make it easier for everyday people to invest in digital currencies without needing to navigate complex, unfamiliar platforms. This bridges the gap between traditional finance and the world of crypto.

Traditional banks offering crypto custody services make it easier for everyday people to invest in digital currencies without needing to navigate complex, unfamiliar platforms. This bridges the gap between traditional finance and the world of crypto. As traditional banks begin to embrace digital assets, the exposure to Bitcoin and other cryptocurrencies offers individuals the opportunity to diversify their portfolios with assets that have historically provided high returns compared to traditional investments.

Crypto offers a way for people who are underserved by traditional banking systems to participate in the financial world. Regulated custody services help level the playing field, offering new opportunities for wealth-building. This development sets the stage for broader integration of decentralized finance within traditional financial structures, providing new ways to earn, borrow, and save that were previously inaccessible. Not to mention how this will help the IQD reach the international financial market for those who are waiting on the rate change.

Source(s):
https://x.com/Prolotario1/status/1838681166162886863
https://x.com/Prolotario1/status/1838691043694498049
https://x.com/Prolotario1/status/1838692395480756276

https://dinarchronicles.com/2024/09/24/ariel-prolotario1-so-many-things-converging-at-once-on-october-1st-game-over

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

Militia Man  We had three articles the other day and now we have another one out today.  Article:  "Removing zeros from the Iraqi dinar is back in the spotlight:  Strengthening the currency or just changing its form?"  Quote:  "...Remove the zero...is done by removing specific number of zeros from the nominal value of the currency."  They didn't say from the currency bills themselves.  They're talking about the nominal value.  For all you folks out there that have been talking about a lop, please just read and see...What is the value of your currency?  Today it's .00076.  If you take off 3 zeros what do you have?  .76

Frank26  [Iraq boots-on-the-ground report]   FIREFLY:
Mr. Sammy [bank friend] expects by the end of this year or early '25 we will see what we're looking for...but he agrees with you it could happen at any time in the next three months of this year.  FRANK:  Mr. Sammy and I are on the same page.  The only difference is he's turning the pages a little slower than I am.  I do not see this going into next year.

The treasury support CBI of Iraq

Nader:  9-24-2024

https://www.youtube.com/watch?v=MDzJ3pcVrxo

Vietnam and Iraq Currency Updates & Future Prospects

Edu Matrix:  9-25-2024

Vietnam and Iraq Currency Updates & Future Prospects—The CBI Launches New Sustainability Map. State Bank of Vietnam Changes VND Rate.

https://www.youtube.com/watch?v=DV-k-xS5F0g