“Tidbits From TNT” Sunday Morning 10-6-2024

TNT:

Tishwash: Al-Sudani discusses with the British Ambassador setting a new date for his visit to the United Kingdom

Prime Minister Mohammed Shia Al-Sudani discussed, today, Sunday, with the British Ambassador to Iraq, Stephen Hitchcock, setting a new date for the former's visit to the United Kingdom.

During the meeting, the Prime Minister stressed the need for the international community and the UN Security Council to play their essential role in maintaining security and stability, especially with what is happening in the region, from the continuation of the Zionist aggression on Gaza and Lebanon, and the persistence and exaggeration in targeting civilians in a war of genocide that requires condemnation and denunciation from the entire world, and requires respect for international laws and not violating them by any party.

During the meeting, they discussed the progress of relations between the two countries and ways to enhance them, as well as setting a new date for the Prime Minister's visit to the United Kingdom, which had previously been postponed due to developments in the region.  link

Tishwash:  Planning: The annual inflation rate in Iraq is slight and does not exceed 3%

The Ministry of Planning confirmed, today, Saturday, that the annual inflation rate in Iraq does not exceed 3%, noting that the procedures for providing the food basket and its materials in the markets have maintained prices and prevented inflation rates from rising.

Ministry spokesman Abdul Zahra Al-Hindawi told the Iraqi News Agency (INA): "One of the reasons for the rise in the inflation rate at times is the presence of a large cash mass in circulation in market and commercial transactions," noting that "the annual inflation rate in Iraq is slight, not exceeding 3%."
He added that "if we want to compare this rate with what exists in some countries, it is incomparable, as there are wild increases in them," noting that "a rate of 3% is normal and logical in light of the Iraqi reality."

He continued, "The measures taken by the government regarding supporting the food basket have clearly maintained prices in local markets and prevented their inflation," noting that "the increase in any country increases inflation rates, but in Iraq the situation is under control thanks to government measures."  link

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Tishwash:  Al-Sudani asked the ruling coalition to “move quickly before war”

 Government official: Tehran stalls when asked to curb factions

A senior government official confirmed that Iraqi Prime Minister Mohammed Shia al-Sudani informed the leaders of the “Coordination Framework” with comprehensive details about the “expected risks to Iraq” resulting from the escalation between Israel and Iran, while stressing that Tehran is practicing “deception” when asked to keep factions away from the ongoing war.

Concern increased among political and governmental circles that Iraq would be exposed to a strike after two Israeli soldiers were killed in a drone attack on the Golan base, early Friday morning.

The official spoke to Asharq Al-Awsat, on condition of anonymity, about a set of measures that Al-Sudani is taking to avoid war, including “increasing the momentum of political mediation” to convince the factions not to involve Iraq in the war, and that he “informed the leaders of the Coordination Framework of everything about the risks, and called on them to move quickly.”

The official acknowledges the possibility of “the strike occurring,” even though “the information available to the Iraqi authorities indicates that the attack by the Iraqi factions was carried out from outside Iraqi territory with weapons that arrived from Iraq,” he said.

Sudanese mediations

The source revealed that the mediators chosen by Al-Sudani to pressure the factions have approval from Iran to talk about the war file and the conditions for calm with its agents in Iraq.

The source said, "The three figures had previously been asked to mediate in certain events over the past few years."

Last week, Asharq Al-Awsat revealed that Prime Minister Mohammed Shia Al-Sudani had asked three Shiite figures to mediate to rein in the factions and prevent them from getting involved in the war between the Lebanese Hezbollah and Israel, after information was circulated within the ruling coalition that Israel had identified 35 Iraqi targets.

Sources said at the time that Ammar al-Hakim was among these figures, along with two influential figures in the Shiite space who have not yet been revealed.

In contrast, there are reports that two Iraqi factions, likely the Al-Nujaba Movement led by Akram al-Kaabi, and the Hezbollah Brigades led by Abu Hussein al-Hamidawi, are refusing to respond to mediators and insisting on continuing to launch missile attacks on Israel.

The Iraqi official acknowledged the existence of “intransigence among some factions,” but the Prime Minister realizes that his country is in the “eye of the storm,” and has informed most of the leaders of the “Coordination Framework” of this.

The official reported that "Al-Sudani literally said: Iraq is unable to avoid a military strike if it occurs, and we must remove the danger from the country by not getting involved in the war."

Iranian Supreme Leader Ali Khamenei said during his Friday sermon that “the Islamic Republic’s allies in the region will not back down,” reinforcing fears that Iraqi factions linked to Iran will not back down from their decision to attack Israel.

Iraqi sources reported that the "Coordination Framework" coalition discussed what was said to be a "security report on dozens of targets to be struck and assassinated by Israel in Iraq."

Government efforts to prevent escalation

The official stated that "Al-Sudani, unlike some previous prime ministers, did not allow the exit of Iraqi funds to feed the conflict axes, through his high coordination with the American side and the American Treasury to monitor the exit of Iraqi funds in a strict manner, and he often demands that the Iranians enter through the official gates to obtain their financial dues owed by Iraq."

The official added, "Today, international auditing companies are working alongside the Central Bank to monitor the exit and smuggling of money, and what is happening today is that all the money gates that were open are now completely closed."

The official revealed that "the United States of America informed Iraq since the outbreak of the war in Gaza on October 7, 2023 that it had put pressure on Israel to prevent it from launching strikes on Iraq, in exchange for Iraq's commitment not to engage in the war."

The official added, "Washington does not oppose the positions of the Iraqi government, which is within the green line of issuing statements against Israel and supporting the Lebanese and Palestinian peoples, as well as sending aid," but "it will not accept Iraq providing any material or military support to factional groups or others."

Regarding the possibility of the Iraqi authorities asking the Iranian side to rein in the factions affiliated with it, the official confirmed that “Tehran is practicing a kind of trickery in this direction, as its response often hints that the factions have their own decision and the understanding with them is like the government.”  link

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*Iraq news Highlights and Points To Ponder Sunday AM 10-6-24

*Iraq news Highlights and Points To Ponder Sunday AM 10-6-24

The Dinar Collapses Against The Dollar.. Is The Specter Of 1600 Looming On The Horizon?[/Size]

October 3, 2024  Baghdad/Al-Masala: The dollar price witnessed a noticeable increase against the Iraqi dinar during the past few days, as the exchange rate reached 1,550 dinars per US dollar.

This increase has raised great concern among economic and popular circles due to its direct impact on the local market and on the standard of living of citizens.

Economic analyst Munar Al-Abidi explained that there are a number of reasons behind this rise in the US currency against the dinar.

One of the most prominent reasons is the decline in transfers of other foreign currencies, such as the UAE dirham and the Chinese yuan, as a result of the significant restrictions imposed by correspondent banks that are in the process of strengthening the balances of these currencies.

These restrictions directly affected the fluidity of transfers and weakened the possibility of obtaining other foreign currencies on which the Iraqi economy depends.

In addition, the Citi-Pilot project faces clear challenges, as the banks participating in it are reluctant to open new accounts for operating companies, as their dealings are limited only to companies with which they have previously dealt.

This limited approach reduces the ability to use these banks as channels for external remittances, increasing pressure on the US dollar and limiting the availability of alternatives.

The current currency exchange mechanisms were unable to cover the increasing demand for foreign currency, especially for the purpose of importing some of the most valuable goods, such as mobile phones and gold, which prompted importers to resort to the parallel market, and contributed significantly to increasing pressure on the dollar and raising its price in the local market.

Expectations indicate that the decline of the dinar against the dollar may continue during the coming period.

If practical measures are not taken to address these issues, the exchange rate could reach 1,600 dinars per dollar in the coming months. In order to address this challenge, there are several solutions that can help calm the situation. One of these solutions is to increase the network of correspondent banks around the world, especially in the UAE and China, which could help facilitate remittances and increase the flow of foreign currency into the country.

The solutions also include controlling financial policy by limiting the import of some goods that contribute to increasing demand for the dollar, in order to reduce pressure on foreign currency.

Pressuring banks under the Citi-Pilot project to be more open could help accept a wider range of customers, which would help ease pressure on the dollar and diversify the channels available for remittances.

In addition, it may be necessary to temporarily ban the import of some goods to reduce the demand for foreign currency until more organized and smooth solutions for the foreign transfer process are found.

The rise in the dollar exchange rate against the dinar is the result of a combination of economic and financial factors, including weak banking infrastructure, difficulty in accessing remittances, and increased demand for foreign currency for import purposes.

The current situation reflects major challenges that require rapid and effective action from the Iraqi government and the Central Bank to restore stability to the financial market.

https://almasalah.com/archives/102326

Hidden Costs”: How do 140 days of holidays affect the economy and daily life?

Posted On 2024-10-05 By Sotaliraq  Reports indicate that the financial costs associated with development projects increase significantly as a result of official and unofficial holidays that affect the workflow.

According to recent data, the number of annual holidays reaches 140 days, causing delays in project schedules and increasing operational costs.

This large number of holidays requires a re-evaluation of the work schedule to ensure that economic goals are achieved within the specified dates and budgets.

Today, Thursday, economic expert Nabil Al-Marsoumi revealed the financial costs of holidays in Iraq, while confirming that their total is 140 days.

Al-Marsoumi said in a post on Facebook, “The total annual salaries of employees and others amount to 90 trillion dinars,” indicating that “the total number of Fridays and Saturdays is 104 days per year.”

He added, "The total number of official holidays in Iraq, excluding special holidays, is 16 days, while the total number of unofficial holidays is approximately 20 days, while the total number of official and unofficial holidays is 140 days."

The expert continued, "The number of actual working days per year is 225 days, while the daily cost of official and unofficial holidays, including Fridays and Saturdays, is 246 billion dinars," stressing that "the annual cost of official and unofficial holidays is 34 trillion dinars."

He pointed out that "the annual cost of official and unofficial holidays, except for Friday and Saturday, amounts to approximately 9 trillion dinars, while the annual cost of unofficial holidays amounts to approximately 5 trillion dinars."

He pointed out that "Iraq is the first country in the world in terms of official and unofficial holidays, and it is the highest in the world in this, while there are 8 official holidays in England and Wales."

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He believed that “both types of holidays cause huge financial losses to Iraq, especially unofficial holidays that are granted for various reasons, including rain, high temperatures, and visits. This loss in unofficial holidays is equivalent to the annual budget of Syria,” recommending “restricting the authority to grant official and unofficial holidays to the Presidency of the Council of Ministers.”

Every year, on October 3, Iraqis celebrate the Iraqi National Day, which marks the declaration of Iraq's independence from the British mandate and its accession to the League of Nations in 1932.  LINK

Economist: Oil Prices Could Rise To $200 If War Expands

Economy  |  04/10/2024  Mawazine News - Economy   Economist Nabil Al-Marsoumi predicted on Friday that oil prices will reach nearly $200 per barrel if the war in the region expands to include the Gulf states, especially if Iran closes the Strait of Hormuz, which will lead to the interruption of the flow of about 20 million barrels of oil per day to global markets.

In an analysis published by Al-Marsoumi, he spoke about two possible scenarios for the upcoming oil war:

1. The first possibility: Israel targets Iranian oil export outlets, especially Kharg Island, through which 90% of Iranian oil exports pass, which means removing 1.5 million barrels of Iranian oil per day from the market, which will raise prices by about $5 per barrel to reach $82. But this scenario will cut off the most important sources of funding for Iran.

   - In this case, **OPEC Plus** is likely to intervene and cancel voluntary and mandatory production restrictions to compensate for the loss of Iranian oil, which may lead to a decrease in prices and their return to the $70 per barrel range.

2. The second possibility: The war expands to include oil pumping and export stations in the Gulf, which will affect Gulf oil exports, especially Saudi Arabia. In this scenario, oil prices may rise to levels exceeding $100 per barrel.

Al-Marsoumi also pointed out that Iran had previously confirmed that it would prevent oil exports from the Strait of Hormuz if it was prevented from exporting its oil, indicating that closing the strait would mean the interruption of about 20 million barrels per day of global supplies, which could push oil prices to levels of up to $200 per barrel, and the export of Gulf gas shipments passing through the strait would also be affected.

Al-Marsoumi concluded his analysis by pointing out that any Israeli strike might focus on targeting Iranian oil facilities, especially refineries, which could lead to the withdrawal of between 300 and 400 thousand barrels per day of Iranian exports.

However, he stressed that this loss may not have a significant impact on global oil prices, especially after Libyan oil production levels return to normal. https://www.mawazin.net/Details.aspx?jimare=255616

Customs: Our Revenues During 7 Months Of The Current Year Exceeded One Trillion Dinars

Money and business  Economy News – Baghdad  The General Authority of Customs announced, on Thursday, that customs revenues exceeded one trillion dinars during 7 months of the current year 2024, indicating that it is about to implement real reform measures that will positively affect the level of revenues.

The head of the authority, Hassan Al-Akeili, said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "customs revenues during the year 2022 were 807 billion dinars, and in the year 2023, revenues rose to one trillion and 33 billion, an increase of 28%, while the current year 2024 and until last July, revenues reached one trillion and 145 billion dinars."

He pointed out that "the Authority hopes that revenues will reach 2 trillion dinars by the end of this year, although the current rate is still below the level of ambition," stressing that "the Authority is about to implement real customs reform measures that will positively affect the level of revenues."

Al-Akeili added, "The estimated amount of the authority's revenues in the budget is 2 trillion dinars, and we are on track to reach it by the end of the year."- https://economy-news.net/content.php?id=48308

Parliamentary Finance Clarifies To "Alsumaria News" The Legality Of Imposing Taxes On Citizens And Sends A Message

Economy 2024-10-04 | 7,741 views   Sumerian News – Economy  A member of the Finance Committee revealedMustafaAl-Karawi, on Friday, discussed the legality of the taxes imposed by the government on citizens and employees, while pointing out that the government should start with goods taxes on merchants and companies.

Al-Karawi said in an interview with Sumaria News, "The tax section is considered one of the sections supporting non-oil revenues."Mission“The government must work on it,” he said, indicating that “the government must start with goods taxes on merchants and companies, not with the poor citizen and employee who is demanding an adjustment to the salary scale and an increase in his specializations in light of the rising price of the dollar.”

He considered "taxes a good step", pointing out "the need for direct support and interest in taxes, but the categories covered by taxation must be specified to avoid public discontent and greater burden on the citizen".

He added: "We hope that there will be a clear plan from the government and a program to increase taxes through sectors that are considered to have high capital to avoid affecting the common citizen".

Regarding the legality of taxes, Al-Karaawi explained that "the tax law exists, but many of its provisions are not implemented, and there are texts in the budget that indicate the possibility of collecting taxes from employees, citizens or companies", stressing: "There must be priorities in collecting these taxes, and the most important thing is that there be real support for the tax sector, so that the citizen is not harmed by them".  LINK

“It’s OK to say NO” From Dinar Recaps Archives

(Note: This Article can apply to Lotto-Winners, A Big Inheritance and Dinarians!)

This story appears in ESPN The Magazine's Dec. 8 Big Money Issue. 

HERE'S A CHALLENGE: Imagine what it feels like to be 21 years old, extremely successful, famously wealthy, wildly stressed and unbearably miserable. How, you might wonder, can all those conditions exist simultaneously?

Start here, with Cowboys All-Pro offensive tackle Tyron Smith, talking to his mother on the phone one day in 2012, his second year in the NFL, during a time of growing tension between him

"We've found a house," Frankie Pinkney told her son.

By this stage, wariness had become as intrinsic to Smith's identity as his brown eyes and bookcase shoulders. Silently, he awaited details. He had agreed to purchase a home in Southern California for his mother and stepfather. They would live in it; he would own it as an investment.

The agreed-upon budget was roughly $300,000, but over the course of the conversation, Frankie dropped the bomb. List price: more like $800,000.

Smith, now 23, is sitting at a polished wood table in the conference room of his lawyer's Dallas office. Surrounded by his girlfriend, accountant and lawyer, he fixes his eyes on a spot somewhere high on the floor-to-ceiling window. "Yeah, my parents wanted a house," Smith says. "But it was way bigger than mine and cost way more than mine."

It's not an easy topic for Smith to discuss -- recounting the conversation appears to be nearly as hard as being on the phone in the first place. He long ago gave up trying to pinpoint when it all went wrong, when the combination of family and money turned corrosive, when one ceased to exist without the other. He recites facts, stripped of emotion, as if determined to turn a painful time in his life into an after-action report.

"That call," he says. "That was the point where I said, 'That's enough.'"

At that precise moment, as he hung up the phone without giving his mother assent or encouragement, something hardened inside him. Reclaiming his finances, that was the easy part. Demystifying his new life -- being something other than a conduit for the wishes of those around him -- that was more complicated.

It works like this: We lack the linguistic dexterity to explain the myriad paths of young men who emerge from poverty -- or a simple lack of privilege -- and achieve riches by playing a game. When words fail us, a creation myth must fill the void, and so the modern professional athlete becomes our Sedna, a massive woman of Inuit legend who lives at the bottom of the ocean, controlling the underworld by providing fish to keep her people from going hungry.

Our version of Sedna frees himself from the streets -- the temptations, the poverty, the turbulent flow of every Bad Part of Town -- through a ceaseless, unquenchable devotion to his sport. Visions of The Escape accompany every rep on the bench press, every free throw in an empty gym. In short, his life is a series of made-in-Akron, Beats by Dre moments.

Yes, he will rise up to leave it all behind, but here's where the mythological sleight of hand appears: He'll bring it all with him too. He can't forget where he came from. The myth mandates loyalty and strikes down the ingrate.

And all those people who toiled alongside, those who believed in him and sheltered him and sacrificed for him? They'll also come along, for he's the sin-eater, absorbing all debts -- moral and financial -- so others can be absolved. And his people will never go hungry again.

Jeff Wilson His family's demands for money isn't an easy topic for Smith to discuss. 

 IT LONG AGO became easier for an athlete to subscribe to this myth than to defy it with his personal story. Easier to nod and smile and tacitly agree to be a benign receptacle for our society's need to bundle its fairy tales into color-coded boxes.

Why else would newly minted professional athletes -- and let's cut the pretense: It's nearly always young black athletes -- invariably be asked whether they've bought their mother a new house? Or a new car? Or both? Does anyone know whether Aaron Rodgers moved his stay-at-home mother and chiropractor father out of their Chico, California, home and into a beach mansion? Has anyone ever thought to ask?

But could it be possible, ever so slightly possible, that athletes who come from similar backgrounds can have wildly dissimilar stories?

Smith's story is best told chronologically. And it begins, as so many do, in a van filled with cleaning supplies rattling down a desolate highway somewhere in the Mojave Desert.

Smith spent much of his elementary school years working for the family business. Pinkney's Cleaning Service specialized in cleaning new buildings after construction was complete but before tenants moved in. Family members would often climb into that van, drive from their home in Moreno Valley, California, to Phoenix or Sacramento or anywhere in between, clean a building and then pile back into the van for a return drive that could last seven hours.

They'd pull into the driveway at 4 or 5 a.m., and Tyron and his five siblings -- a mixture of half brothers, half sisters, stepbrothers and step­sisters -- would be at school by 8.

Introspective and shy, bigger than his peers, Tyron felt detached, like an asset rather than a son, someone valued primarily for his ability to clean tall windows. The detachment might have been rooted in a moment he was too young to remember: the death of his father, Jerry Lee Smith, when Tyron was a year old. Tyron was told that Jerry Lee was murdered and that someone is in prison for the crime, assertions he's been unable to substantiate.

"Growing up, it's hard to feel separated," he says. "You don't know which direction to go. ... It got really complicated. I was the one who always asked, 'Can I get my own job? Can I do my own thing?' I didn't want to work in the janitorial business my whole life."

Smith doesn't remember watching football as a kid; he had neither the time nor the inclination. He was too big for Pop Warner, and besides, there were van rides to take and windows to reach. But he began to play in high school, and his size and natural ability immediately meshed with his work ethic. He didn't so much find football as it found him. He was huge and nimble, eventually reaching 6-foot-5 and 310 pounds, and by his junior year everyone had a pretty good idea where this was headed.

He was excused from janitorial work if he had a weekend camp to attend, and he remembers thinking, "It was a little weird they let me do my own thing." When he's asked if that created friction between him and his siblings, he says, "It probably did, but I never knew about it." It sounds like the first time this possibility has occurred to him.

Was this the beginning of Tyron's embrace of the myth? When he climbed into the van after Friday night games, heading for another empty building, did he close his eyes and dream of The Escape, when he could direct schools of fish to the surface and rid everyone of this burden?

"When I was out there, I was just enjoying playing," Smith says. "For me, playing a sport was my own space, away from reality. You don't have to worry about anything because you're out there, and you can just play freely."

He did it well enough to earn a scholarship to USC, and in his junior season, something shifted in the family dynamic. NFL decision makers began seeing Smith, with his 85-inch wingspan and sub-5.0 speed in the 40, as a potential first-round pick in the 2011 draft.

The conversation at home took on a sharper edge. Family members wondered how much he might get and what percentage of that they might get. There was talk of cars and houses and jewelry. "All of a sudden, people's perception of me started to change," Smith says.

As Leigh Costa, Smith's girlfriend, puts it, "He's always told me he felt like nobody ever really cared about him until coaches started saying, 'You could be really good.'"

HE PLAYED ALONG with the myth. Everyone else was, so what choice did he have? When he was chosen No. 9 in the draft, he was 20, the youngest player in the NFL. He signed a four-year, $12.5 million contract, bought his mom a Range Rover and vowed to pay off his parents' mortgage and retire the family's debts.

"I didn't think I owed them anything," Smith says. "I just really wanted to help out. I know how hard the struggle is, and growing up we always had to worry about debt. That was my thing: Use this money to pay off your house, pay your debt and be free of all that stuff."

Later, Smith discovered the money he provided wasn't used for those purposes. Asked how it was spent, Smith shrugs, betraying no emotion. "We don't know," he says.

A direct line could be drawn connecting that moment to the moment he hung up the phone because it marked the beginning of a gradual erosion of trust and control. His humanity vanished beneath a barrage of requests. He was no longer son or brother or friend. He began to feel like a human Santa list, robbed of his capacity to be generous.

"The things that were asked for as gifts shocked me," he says. "All I could think to say was, 'Hey, that sounds really expensive.'"

He paid for airline tickets so strangers and near strangers could accompany his parents to games in Dallas. He paid for game tickets (players get only two comps), parking and food. He paid for hotel rooms or let the guests stay in his home.

"Tyron deferred to the mom, who deferred to the stepdad, who had his own mindset on what he deserved and what he should get," says a family associate with knowledge of the situation. "Tyron's a great kid. He was young and overwhelmed."

And so he relented. The myth, after all, demanded he remember where he came from, and a sort of achiever's guilt took over. His family was still back in Moreno Valley, still doing the job he had worked so hard to avoid. He started to think: Maybe I don't deserve all this money. When his financial adviser would call for authorization to transfer funds to his family, he'd say, "Yeah, just transfer it over." They wore him down. Inside, it tore him up.

Studies indicate that 78 percent of NFL players are bankrupt within two years of retirement. How many of those bankruptcies can be attributed to the gradual erosion of control, the constant drip of family and friends asking for money and the unwillingness to confront it? John Schorsch, Smith's lawyer, estimates that the family received roughly $1 million from Tyron's accounts over one year.

"I'm not trying to be hurtful, but I'm not making this money so other people can live off it," Smith says. "You have to understand: This game doesn't last long at all."

AFTER HIS ROOKIE year, Smith was moved from right tackle to left, a huge promotion in an offensive lineman's world. When he texted his parents to tell them, the response he received did not convey joy or congratulations. Instead, it referenced his next contract and how it would be bigger now that he was playing a more valuable position. "It was hard to have a straight-up conversation," Smith says. "I love my family -- I do -- but I didn't love what they became."

A financial adviser who works with numerous professional athletes says, "As players get more, their families want to be paid more. People lose their humanity. We call some family members 'backup point guards' because that's how they believe they should be paid."

Smith's issues went beyond money. Costa, four years Smith's senior and a former account executive for a Dallas sports radio station, was caught in a story as old as time: She, the newcomer, brunette and pretty, was blamed for separating him from his family and controlling his life and finances. Members of his family allegedly made death threats against her. "I brought her into the middle of all this stuff," Smith says. "They bashed her any way possible, and she didn't do anything wrong."

After his mother's request for the $800,000 home, Smith made a last-ditch effort. He placed a call to Moreno Valley, saying, "I love you all, and you mean the world to me, but all this money stuff is stressing me out. Can we just have a great relationship?"

But the lines had been drawn. "We kept getting voice mails and emails threatening all kinds of things," Costa says. Smith and Costa enlisted Schorsch to handle the legal affairs.

They cut ties with Smith's financial adviser and made the myth-defying move of hiring Bill Saplicki, a Dallas accountant who was recommended to Costa and who works primarily with doctors and dentists and precisely one professional athlete.

In the summer of 2012, Schorsch filed to have a protective order placed against Smith's parents and siblings, prohibiting them from having contact with him. The event that precipitated the protective order occurred on June 16 when Smith's mother and stepfather confronted him publicly while he was working at a youth football camp at his alma mater, Rancho Verde High School in Moreno Valley.

"We did as little as possible to accomplish as much as possible," Schorsch says. And yet on the night of Saturday, Oct. 27, 2012, with Smith at the team hotel on the eve of a home game against the Giants, two of his sisters arrived unannounced at the home Smith shared with Costa in North Dallas.

The doorbell rang, and Costa looked through the glass in the door and froze.

"You need to let us in this house," one of them said.

"Why?" Costa answered. "You've made threats against my life. I don't know what you have on you right now, and your brother's not here."

Costa said she called the police after the women repeatedly said, "We're not leaving until you let us in." Three days later, on Tuesday afternoon, two of Smith's sisters were among three people who returned to the house. This time, Smith called 911 and police cited the women for disorderly conduct. A Dallas police report noted that Smith's sisters were there to "harass and torment ... in the pursuit of collecting financial gain."

Frankie Pinkney turned down an interview request. She directed questions to her manager, Mark Wayne, who runs an entertainment company with offices in Seattle and New York. Pinkney, according to Wayne's website, is part of a group attempting to sell a reality show called Football Moms.

"She's been painted as an extortionist to her own son, which is not true," Wayne says. "There's so much friction between her and her son. She loves her son with all her heart and wants to reunite. I don't think she's had a fair shake."

Wayne refused to elaborate, except to say, "The truth will come out. It's not for me to share; it's for Frankie. She took the heat for a lot of stuff. Her reputation has been damaged."

What is she waiting for? "She needs to heal," Wayne says. "A lot of healing needs to take place."

night loss to the Redskins on Oct. 27, Smith exhibits the second-day inertia of an NFL offensive lineman. It's quite a contrast. On game day, he's powerful and punishing, remarkably light on his feet -- like a dancing oak. Two days later, he lowers himself into his chair slowly, as if every vertebra moves independently. "My back -- ooh," he says, wincing. "Really stiff today."

Schorsch has a standard answer when questioned about Smith's financial responsibility to his family. "I am certain none of them ever took a hit for him," the attorney says. "None of them had to get a shot so they could get up and go to work. And they're not entitled to share in this. No matter what they did, they're not taking the risk."

That risk, short- and long-term, is significant. In his fourth year as a pro, Smith has already had a career longer than the NFL average according to the NFL Players Association. He has avoided serious injury but has had periodic ankle issues. Sedna might live forever, but an offensive tackle is not as lucky.

Smith is mellow, with the voice of a late-night DJ on a smooth-jazz station. He is almost allergic to attention; rather than speak to reporters, he sometimes stays in the training room after practice or games while a team employee delivers his clothes.

He plays with a composed, almost detached air, like a man at peace with the violence of his profession. (During a game in late October, however, he did trade punches with Giants defensive end Jason Pierre-Paul.) His ability is unquestioned:

He is widely considered one of the top three offensive tackles in the game, and for his play against the Seahawks in Week 6, he became the first offensive lineman in 10 years to be named offensive player of the week.

He treats money the way most people treat a gym membership: It's there, and he'll use it if he needs it. In July, he signed an eight-year extension, making his contract now worth a potential $109 million, with $22.1 million of that guaranteed.

Many in the business felt the deal was too team-friendly -- Pro Football Talk called it "nuts" -- because it leaves one of the league's brightest young stars with no bargaining power for an entire decade.

But the criticism fails to account for Smith's loyalty to Jerry Jones and the Cowboys, whose security team has assisted Smith and Costa and was once called on to remove one of Smith's brothers from the team's training camp in Oxnard, California.

Smith, who drives a Jeep he gets as part of an endorsement deal, values stability 
and craves normalcy. When he goes out to a four-star restaurant for a weekly dinner with Cowboys offensive linemen, they tease him for wearing clothes Leigh has chosen.

"I have no style whatsoever," he says, holding his hands out to show off his workout shirt, sweats and shower shoes. "The guys know I don't dress myself. I wish it was like the early '90s, when you could wear jumpsuits."

When Costa asks him if he likes something -- whether it's a couch or a shirt or a toaster -- he answers her question with a question. To demonstrate, Smith holds a coffee cup over the table and says, "It could be something as cheap as this mug, and my first question is, 'How much does it cost?'"

"You're very conservative," Saplicki says.

No," Smith corrects. "Cheap."

"I know the amount of money I make in the NFL could be over any day," Smith says. "It has to be put aside for me later down the line or for when I have a family."

Listen to Smith long enough and you'll pick up a pattern: He repeatedly uses the word "work" to describe what he does. He says it so often, it begins to feel intentional, or maybe it's a reflexive response to the weight of his success.

The distance between the word "work" and the word "play" is immense: He plays football for a living, while the nonsports world -- the janitorial world, for one -- goes to work. "I saw the daily struggle," he says. "It taught you to live within your means and know what it means to actually earn a dollar."

The demystified truth is this: He suits up for the Cowboys not because he loves football necessarily; he's playing because he's darn good at it. For the love of the gameis largely an external phenomenon anyway, promoted by those who link generational bonding and the passage of time to a particular uniform.

No matter how much it gets sexed up -- and in Dallas, in Jerry's world, they do their best -- there is nothing romantic about slamming your massive body into another massive body as a way of making a living. It's exactly what Smith says it is -- work -- and he speculates that half the players in any NFL locker room would walk away from the game if they were offered the same pay to do something else.

Is that heretical? Or is that how myths die and reality survives?

Understand this: Smith wasn't eager to talk. Things are quiet, the way he likes them. The stress is gone. He can go home and hang out with his rescue dogs -- he and Costa have five, including a 110-pound French mastiff named Beast -- and not worry about the next phone call or knock on the door.

But he knows his story is important. When he finishes playing, he's got an idea to travel the country telling it to top college players. He wants them to know that he said no and they can too. He wants them to know it's OK to stand up to the pressures from family and friends. He wants them to take control of their money and understand how long it has to last.

"It's so personal, and nobody really talks about it," Smith says. "'Hey, this sibling or family member is screwing me over.' You won't hear that, but it's a real issue. I'm not trying to bash my family at all, but it's hard to talk about this without doing that. And a lot of people aren't willing to tell their story."

It's getting late. The traffic in the throbbing Metroplex, 13 floors below, is starting to ease. Smith begins the process of standing, his back working like an elevator in a fleabag motel, refusing to be rushed. The men in suits stand at his sides like reverse bodyguards, and Smith says, "It's OK to say no," as if to remind himself one more time.

More News, Rumors and Opinions Saturday PM 10-5-2024

KTFA:

Clare:  Switzerland wants investment opportunities for its companies in Iraq

Baghdad - 

Today, Saturday, the Prime Minister received the Swiss Ambassador to Iraq, Daniel Hohn, after the reopening of the Swiss Embassy in Baghdad. The latter confirmed the desire of his country's companies to work and benefit from investment opportunities in Iraq.

Al-Sudani's office said in a statement received by 964 Network:

Prime Minister Mohammed Shia Al-Sudani received today, Saturday, the Swiss Ambassador to Iraq, Mr. Daniel Hon, who is the first ambassador of his country after the reopening of the Swiss Embassy in Baghdad.

The Prime Minister welcomed the reopening of the Swiss Embassy after about 33 years of closure, and considered it an important step and a new stage in relations between the two countries, stressing the importance of activating the joint working committees, which would contribute to more fruitful bilateral cooperation.

The meeting witnessed an emphasis on the mutual desire to strengthen Iraqi-European relations, especially in light of the stable security situation in Iraq, the development renaissance that included all vital economic sectors, the government’s support for the work and investment environment, and the creation of constructive economic partnerships.

For his part, Ambassador Hon stressed that reopening his country's embassy in Baghdad would contribute to strengthening mutual relations, and help Swiss companies to operate in Iraq and benefit from available investment opportunities.

The meeting touched on the ongoing Zionist aggression on Gaza and Lebanon, its targeting of defenceless civilians, the role of the European Union in stopping this massacre, and the position of the international community required to limit the expansion of the conflict in the region, and the dangers and threats it poses to regional and international security.  LINK

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Clare:  Digital Banks: The Next Phase of Digital Transformation in the Egyptian Sector   

10/5/2024

 With steady steps, the Central Bank continues to implement the banking reform strategy, one of the main objectives of which is to achieve digital transformation in the banking sector, which the Central Bank began in 2017 with clear stages included in its first, second and third strategies.

During the past two years, cooperation between the government, with the personal support and follow-up of the Prime Minister, and the Central Bank was a fundamental step to activate and accelerate the transformation to digital government and the transition from a cash economy to a digital economy, focusing on developing payments within Iraq and using technology to improve financial inclusion, developing information technology, establishing digital banks, using artificial intelligence in banking services, and using modern technologies in loans, compliance, risk management, combating money laundering and terrorist financing, and combating banking fraud.

 The results during 2023 and 2024 recorded a qualitative leap in the volume of transactions in electronic payment operations and the use of modern banking technologies.

The rate of digital transformation and electronic payment increased to 48.5% compared to 20% in the past years. This is an indicator that confirms the success of the plans and procedures adopted to achieve a major transformation with a distinguished national effort for digital transformation and electronic payment.

This joint effort by the cadres of the Central Bank, the government, banks and electronic payment companies has clearly contributed to having an advanced infrastructure to implement and accommodate electronic payment tools and various financial services.

 The banking reform has now entered the phase of transformation to digital banks, and the Central Bank is currently examining and auditing about 70 requests to license new digital banks according to the precise controls and conditions adopted by the Central Bank.

This constitutes a real and promising start for technical banking development in Iraq, bridging the technical gap with the countries of the world in this field. This facilitates the provision of smart banking services, reduces the chances of fraud and corruption, and provides important data on the nature of transactions, their control, and compliance.

Therefore, digital banks are a new stage of digital transformation and banking reform. We hope that the Central Bank will soon take the first step by licensing digital banks that show, through examination, audit and study, that they are committed to the applicable controls and conditions.   LINK

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

Militia Man  The market economy is coming together, the World Bank is addressing Iraq is moving toward a market economy.  That means...at some point, could be any day, any time, they're going to have to go into the international world...

Mnt Goat  ...the dinar is not going to change in value IN THE COUNTRY OF IRAQ as a result of the project to delete the zeros...No one in Iraq is going to get rich off this swap out...So when we exchange, OUTSIDE of Iraq, we exchange our dinar we will get the rate of exchange for our OWN COUNTRY according to the exchange rate...The banks are going to be VERY strict on this.

Jon Dowling & Bill Holter The End Of The Fed Reserve October 2024 Updates

Chris Real World:  10-4-2024

https://www.youtube.com/watch?v=sSR5J3gW6wM

Central Banks in PANIC Mode! Why Silver Prices Are Set to SHOCK the World | Henry Weingarten

Wall Street Silver:  10-5-2024

Henry Weingarten joins us to discuss the catastrophic collapse coming to central banks and the global economy! Henry also discusses the potential of silver prices going up!

https://www.youtube.com/watch?v=dZsTEm3vhxM

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 10-5-24

Good Afternoon Dinar Recaps,

RIPPLE VS SEC NEWS: WHAT EXACTLY IS GARY GENSLER APPEALING?

The SEC has filed an appeal against a previous ruling that deemed programmatic sales of XRP as not constituting investment contracts, a decision that significantly reduced the penalties Ripple faced.

However, there has been a lot of confusion regarding this appeal and XRP enthusiasts took to social media to express their frustration.

Additionally, discussions centered around the complexities surrounding secondary sales of XRP, clarifying that the court did not specifically rule on transactions involving retail investors trading on exchanges.

A user asked whether the SEC’s recent appeal letter only referenced the penalties judgment, not the broader ruling from last year, and if this limits the SEC to appealing just the penalties aspect. Marc explained that the appeal references the final judgment, which triggers both parties’ rights to appeal.

This judgment also finalizes the previous year’s summary ruling, which is the main focus of the SEC’s appeal, though penalties and disgorgement will likely be included as well.

In response to another question about whether the SEC will appeal everything or just the fine and Ripple’s sales of XRP, Marc indicated that the SEC is likely to challenge the court’s decision that Ripple’s programmatic and non-cash XRP sales were not securities transactions. 

This had already been hinted at a year ago, with the inclusion of disgorgement and penalties, though the latter isn’t the central objective of the appeal.

Another user said that the SEC originally requested much larger penalties than what was ultimately ruled by Judge Torres, suggesting the SEC was primarily focused on monetary penalties. Marc clarified that the SEC’s main objective is not the money itself, as it doesn’t go to them, though they will likely raise arguments regarding the penalty and the absence of disgorgement while pursuing the appeal.

@ Newshounds News™

Source:  Coinpedia

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EL SALVADOR’S BUKELE TEACHES BITCOIN TO ARGENTINA’S VICE-PRESIDENT, SPARKING INTEREST IN BTC AND ADA-LEGAL CURRENCIES

El Salvador’s President Nayib Bukele met with Argentina’s Vice President Victoria Villaruel to discuss bitcoin-focused policies during an official visit.

Argentine President Javier Milei is set to meet Cardano founder Charles Hoskinson to discuss blockchain and crypto-currencies in the region.

During a recent official visit to Argentina, El Salvador’s president, Nayib Bukele, discussed the country’s bitcoin-centric policy with Argentina’s vice-president, Victoria Villaruel. Villaruel mentioned the meeting on her X account, which focused on the implementation and regulation of Bitcoin in El Salvador.

Ms. Villaruel showed interest in El Salvador’s bitcoin bond project, which received a great deal of international attention after Mr. Bukele’s administration adopted bitcoin as legal tender. She said, “I’d like to take this brief opportunity to ask you some questions about bitcoin.”

Ms Villaruel then asked about the digital asset and sought Mr Bukele’s views on its effect on the country’s economy. In response, Mr. Bukele stated that he was ready to share the measures taken by his administration regarding the integration of bitcoin into the country’s economic system.

El Salvador became the first country in the world to recognize bitcoin as legal tender in 2021. The administration has since launched several projects, such as bitcoin bonds. Bukele’s administration aims to use bitcoin bonds to raise funds for infrastructure and technology projects. Villaruel expressed her interest in learning more about bitcoin bonds and their implications for the economy.

In addition to the bond, the two leaders also discussed the creation of the National Digital Assets Commission, a regulatory authority set up for El Salvador’s digital assets market. This body has played a role in drawing up the guidelines governing the use of bitcoin.

Crypto-currency discussions extend beyond El Salvador’s borders
The meeting between Bukele and Villaruel is part of a wider dialogue on crypto-currencies in Latin America. Argentina has witnessed a growing interest in digital assets, making the conversation between the two leaders particularly relevant.

The dialogue is set to continue as Argentine President Javier Milei is due to meet Cardano founder Charles Hoskinson later this month. Hoskinson has expressed interest in supporting the development of blockchain in South America, with a focus on advancing general crypto-currency needs.

As recently highlighted by Crypto News Flash, Hoskinson is expected to discuss with Milei the future of Cardano and its opportunity to advance Argentina’s digital economy.

IMF reiterates cautious stance on bitcoin adoption
IMF spokeswoman Julie Kozack reiterated the organization’s position at Thursday’s press conference. She stressed the need to minimize public sector exposure to bitcoin.

“What we have recommended is to reduce the scope of bitcoin law, strengthen the regulatory framework and oversight of the bitcoin ecosystem,” said Ms. Kozack, stressing the need for prudent management of the crypto-currency.

Since its adoption, the IMF has criticized El Salvador’s bitcoin law and expressed the need for the government to reduce the risks associated with integrating Bitcoin into the country’s financial system. In response to the concerns of the IMF and other international organizations, President Bukele revealed that El Salvador had acquired nearly $400 million worth of Bitcoins.

@ Newshounds News™

Source:  Crypto News Flash

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98% OF RIPPLE XRP HOLDERS WON'T GET RICH BECAUSE OF THIS MISTAKE

This video is about XRP. This video is about XRP and Ripple and the SEC APPEAL.  XRP update.

@ Newshounds News™

Source:   YOUTUBE  

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Real Assets are Historically Cheap Right Now Here’s One Example

Real Assets are Historically Cheap Right Now. Here’s One Example.

Notes From the Field By James Hickman / Simon Black / Sovereign Man October 2, 2024

The “green energy” revolution is one of the biggest fantasies of today.

For example, they tell us that fossil fuels are going away, that the gasoline powered internal combustion engine is a thing of the past, and that everyone wants to drive an electric vehicle (EV).

Clearly, that’s why over 90% of consumers still choose gas powered vehicles...

So the government instead has to step in to mandate electric vehicle use, attempting to force manufactures to sell 50% electric vehicles by 2030.

They conveniently ignore the fact that the American electric grid cannot handle that kind of power demand.

And if the $1 billion per EV charging station Secretary of Transportation Pete Buttigieg is spending from the trillion-dollar infrastructure bill is any indication, we’re not going to get there in six years.

The “green energy” revolution is one of the biggest fantasies of today.

 Meanwhile, auto manufacturers are actually scaling back EV production as demand slows and infrastructure gaps remain vast.

Governments and activists may wish it were otherwise, but fossil fuels are not going away for decades. Yet, the belief that they are has led to massive misallocations of capital into renewables.

We’ve talked about this in regards to oil, natural gas, and the uranium required for nuclear power. All of these energy assets have been ignored by investors, or demonized by activists and governments, despite remaining absolutely critical.

And the same thing is true of the metals necessary to build traditional internal combustion engines.

Mining companies are obsessed with finding more metals like nickel and cobalt for the “green energy” revolution. Meanwhile, the specific niche metals required for gas vehicles have been neglected.

I’m talking about platinum group metals (PGMs). These include six metals—platinum, palladium, rhodium, iridium, ruthenium, and osmium—renowned for their high melting points and corrosion resistance.

Over 80% of palladium and 90% of rhodium is used in gas vehicle emissions control systems to convert toxic gases into less harmful substances.

And it seems investors have believed the lies of the climate fanatics, assuming that demand for these metals will drop precipitously as everyone flocks to electric vehicles.

This ignores, first, the actual reality that people still prefer gas vehicles.

Second, the fact that hybrid-electric vehicles are actually the most popular alternative to gas-only vehicles.

And while the EPA-regulation wants everyone to drive electric vehicles, hybrids also satisfy its 50% mandate.

Already, hybrid vehicles account for about 25% of vehicle sales in the US. And they actually use more PGMs per vehicle than traditional combustion engine cars.

But the supply of PGMs is shrinking.

South Africa, the dominant producer of platinum and rhodium, has struggled with power shortages, labor strikes, and declining investment in its mining sector. Russia, another major player, faces sanctions and geopolitical uncertainty that disrupt its palladium production.

With these two countries controlling the vast majority of global supply, the market is heading for significant deficits in the coming years. The numbers are already telling: in 2023 and 2024, the platinum, palladium, and rhodium markets all ran deficits, as in, more was consumed than produced.

Despite this looming shortage, prices for PGMs have plummeted.

Palladium is down 66% from its 2022 highs, and rhodium has crashed by 80% since 2021. This collapse in prices has put major PGM producers on the back foot, forcing them to cut jobs, and even shut down some operations.

Investors, spooked by the drop, are shorting palladium at record levels, convinced that the future belongs to EVs. But they’re missing the bigger picture.

False narratives like these are one reason why many real assets are historically cheap right now.

Real assets are physical, tangible goods like certain commodities and natural resources which have intrinsic value tied to real world uses. This includes energy assets like oil and uranium, productive technology, and fertile farmland.

It also includes critical minerals and metals, like the ones we have been discussing.

Unlike financial assets and paper money, they cannot be conjured out of thin air by central banks and government. Which is why they protect wealth against inflation.

And the type of conditions present in the PGM market is a classic example of finding a historically undervalued real asset.

A crucial, critical resource with limited supply? Check.

A burgeoning shortage, with no movement in the markets to remedy it? Check.

A historically low price for the critical resource? Check.

That’s why this summer we wrote to subscribers of our investment research service, The 4th Pillar, about a company which mines PGMs.

But rather than traditional mining, it extracts these metals from tailings— the waste left over from other mining operations.

And that means it actually gets its source material delivered to it for free...

This company has a deal with a chrome miner for the exclusive right to process the chrome mine tailings. It gives back the recovered chrome, and keeps all the extracted PGMs for itself.

It’s a symbiotic relationship with no money exchanged, no profit share, and no royalty owed.

This low-cost, efficient business model has allowed the company to stay profitable even as PGM prices have cratered.

With a rock-solid balance sheet and minimal debt, it is perfectly positioned to weather the current downturn and capitalize when the market inevitably turns.

But again, this isn’t just the story of PGMs and vehicle markets.

Everywhere you look, real assets are historically cheap.

Often these same conditions exist— the market for a critical resource has been ignored by investors, or demonized by activists, cutting into supply, while demand stays steady, or even grows.

While frustrating, these lies create enormous opportunity. The best way to capitalize is by investing in critical real asset companies at historic lows. As inflation rises and markets correct, those who invest now stand to benefit immensely.

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

https://www.schiffsovereign.com/trends/real-assets-are-historically-cheap-right-now-heres-one-example-151519/

PS-
The 4th Pillar is our highest tier investment research service that focuses entirely on undervalued real asset businesses. Based on our track record, an annual membership is well worth the $1,995 cost.
If you’re interested in subscribing you can do so here.

Navigating the Global Debt Bubble, are we on the Brink of Crisis?

Navigating the Global Debt Bubble, are we on the Brink of Crisis?

Daniela Cambone:  10-4-2024

In an era where economic fluctuations and political uncertainty dominate the headlines, the discussion around global debt has never been more pressing. Recently, Edward Dowd joined Daniela Cambone on ITM Trading to shed light on an alarming reality: the global debt bubble is perilously close to unwinding.

This insightful conversation revealed how we have arrived at this juncture—a scenario deeply entrenched in a system designed for self-preservation through relentless debt creation and fear-mongering.

As Dowd articulates, the proliferation of debt is not merely a byproduct of economic policy gone awry; it is an orchestrated strategy to keep the financial system afloat.

Central banks across the globe have resorted to keeping interest rates at historically low levels, which has encouraged borrowing and inflated asset prices. Corporations and governments alike have taken on unprecedented levels of debt, stirred by the promise of growth and stability.

However, this growth is illusory. The disparity between asset values and underlying economic fundamentals is widening. The debt bubble is propped up by a precarious mix of consumer confidence, government intervention, and speculative investment. But as any economist will tell you, such bubbles tend to burst, and when they do, the repercussions can be catastrophic.

What is particularly concerning is Dowd’s assertion that this is not a new phenomenon; rather, division and manipulation have been used as tools of control for centuries. The elite class has historically leveraged societal fears—be it economic uncertainty, social unrest, or geopolitical tensions—to maintain power and influence over the masses.

Today, fear has evolved, taking on new forms—be it through media narratives that amplify economic crises or political rhetoric that stokes division among communities. In every instance, the goal remains the same: to distract the populace from the underlying realities, ensuring compliance and, ultimately, a continuation of the status quo.

During their conversation, Dowd underscored how division plays a crucial role in perpetuating this cycle of debt and fear. As society becomes more polarized, critical thinking often takes a back seat to emotional responses. This division keeps individuals preoccupied with social conflicts rather than focusing on systemic issues like the growing wealth inequality or the looming debt crisis.

The manipulation of information—whether through traditional media channels or social media platforms—serves to create a narrative that vilifies dissenters while glorifying the leaders crafting economic policies. This shield of division not only distracts from the inherent flaws in the financial system but also dissuades any unified approach to reform.

As Dowd warns, the unwinding of this global debt bubble is not a matter of “if,” but “when.” Once it begins, the consequences will ripple through economies, impacting everything from job markets to retirement funds. The end game may very well expose the deceptive foundations upon which our current system rests.

In such a scenario, a failure to recognize and address the manipulation of fear and division can leave societies vulnerable to further exploitation. Collective action will be essential, but it can only occur if citizens rise above the fray and unite to demand accountability from their leaders.

The dialogue between Edward Dowd and Daniela Cambone serves as a sobering reminder of the volatile state of our global economy. The system may be rigged, but awareness is the first step toward change. By understanding the mechanics of the debt bubble and recognizing the historical context of manipulation and division, we can begin to mobilize for a more equitable future.

In this fight against an entrenched financial system, knowledge is our greatest weapon. As consumers and citizens, it is crucial to stay informed, engage in meaningful dialogue, and challenge the narratives that seek to divide us. Only then can we hope to dismantle the structures that keep the global debt bubble inflated—and prevent it from devastating lives when it finally bursts.

https://youtu.be/ZdCOFBNfj54

https://dinarchronicles.com/2024/10/04/itm-trading-navigating-the-global-debt-bubble-are-we-on-the-brink-of-crisis/

“Tidbits From TNT” Saturday 10-5-2024

TNT:

Tishwash:  Iraqi Prime Minister receives first Swiss ambassador after 33 years

Iraqi Prime Minister Mohammed Shia al-Sudani received today, Saturday, the Swiss Ambassador to Iraq, Daniel Hon, who is the first ambassador of his country after the reopening of the Swiss embassy in Baghdad.

The Prime Minister welcomed the reopening of the Swiss embassy after about 33 years of closure, and considered it an important step and a new stage in relations between the two countries. He stressed the importance of activating joint working committees, which would contribute to more fruitful bilateral cooperation, according to a statement issued by his office and received by Shafaq News Agency.

The meeting witnessed an emphasis on the mutual desire to strengthen Iraqi-European relations, especially in light of the stable security situation in Iraq, the development renaissance that included all vital economic sectors, the government’s support for the work and investment environment, and the creation of constructive economic partnerships.

For his part, Ambassador Hon stressed that reopening his country's embassy in Baghdad would contribute to strengthening mutual relations, and help Swiss companies to operate in Iraq and benefit from available investment opportunities. 

The meeting touched on the ongoing Zionist aggression on Gaza and Lebanon, its targeting of defenceless civilians, the role of the European Union in stopping this massacre, and the position of the international community required to limit the expansion of the conflict in the region, and the dangers and threats it poses to regional and international security.  link

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Tishwash:  Government Advisor: Development Fund Provides Great Support to Private Sector

Advisor to the Prime Minister, Hussein Flamers, confirmed today, Saturday, that the Development Fund provided the private sector with unprecedented great support, while setting two conditions for developing the private sector. 

Flamers said in a statement to the Iraqi News Agency (INA): "Prime Minister Mohammed Shia Al-Sudani blessed the first national forum for the private sector, which is held by the Private Sector Development Department at the Ministry of Trade, in cooperation with Bayt Al-Hikma for Training and Consulting," indicating that "such meetings put us in the forefront and we are on the right path in developing the private sector."

Flamers explained that "we must benefit from the versions that preceded us in other countries and developed the private sector and work to have a single window that enables those working in the private sector to be a source of glory for it and for the process to run smoothly," noting that "the government program presented by Prime Minister Mohammed Shia Al-Sudani supports the private sector."

He explained that "the Iraqi Development Fund provided the private sector with unprecedented support, but we need legislation, and intensifying laws and legislation is a very important step in developing the private sector," noting that "financial and banking services, facilitating and simplifying procedures, and providing services are all part of supporting the private sector, which depends on achieving two conditions: the first is simplifying procedures, and the second is reducing the efforts expended."   link

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Tishwash:  Iraqi forces decide to keep out of Israel’s battles with Hezbollah and Iran

Officials and paramilitary commanders say Israeli attacks could be ruinous for Iraq and even topple its government

The Iraqi political and armed forces affiliated to Tehran have decided to distance themselves from Israel’s battles with Hezbollah and Iran, fearing that expanding the growing Middle Eastern wars could ruin Iraq and their own positions.

Iraqi officials and leaders of Iranian-backed armed factions told Middle East Eye that the focus instead will be on providing humanitarian aid and financial support to civilians affected by Israel’s war on Lebanon.

No US interests or military bases in Iraq or Syria will be targeted by Iraqi armed factions until further notice, commanders said.

Over the past year, Israel’s onslaught on Gaza has drawn reprisals from Hezbollah in Lebanon, Yemen’s Ansar Allah (commonly known as the Houthi movement), and Iraqi paramilitary groups.

Meanwhile, Israel has begun waging war on Lebanon. It has also killed Hezbollah’s leader, Hassan Nasrallah, and assassinated Ismail Haniyeh, Hamas’ political leader, in Tehran.

In response, Iran rained ballistic missiles on Israel on Tuesday, causing significant damage to Israeli military bases.

The escalation has raised the prospect of further Iraqi participation, whether through Iraq’s regular military or its multitude of paramilitary groups.

However, Iraqi officials say there is a belief that this would lead to the collapse of Iraq’s political, economic and military system and the fall of its government.

Sudani seeks calm

Over recent days, Iraqi Prime Minister Mohammed Shia al-Sudani has held dozens of meetings with political leaders, commanders of armed factions allied with Iran and the top brass of Iraq’s security services.

According to one of Sudani’s advisers, the prime minister sought to “explain the reality of the situation facing Iraq and the consequences of any Iraqi party getting involved in the ongoing conflict”.

He also met with various Arab and western diplomats, and spoke to several neighbouring leaders, including the Egyptian president, Qatar’s emir and the king of Jordan.

Sudani pressed them to help “stop the ongoing Zionist aggression on Lebanon and Gaza, which threatens to expand the conflict throughout the region", his adviser said.

Iraqi officials and commanders of armed factions told MEE they believe Iraq will be one of four countries that Israel will strike soon, in response to the Iranian missile attack.

'Sudani has been striving to deprive the Israelis of any pretext that could be used to strike Iraq'

- Adviser to the prime minister

A succession of dramatic and ruthless Israeli attacks on Lebanon and Hezbollah over the past two weeks have been met joyously by Israel’s leadership and public.

Yet, Sudani’s adviser noted, “the Iranian missiles have dispelled their euphoria”. 

“This means that it will definitely respond to this attack. Israel will inevitably attack Iraq, as it will attack Syria and Yemen, in addition to some oil facilities in Iran,” he said.

"Sudani has been striving to deprive the Israelis of any pretext that could be used to strike Iraq,” the adviser added.

"Iraq's political, security and economic situation is fragile and will not endure any party's adventure. Any ill-considered action in the coming days will have a high price and could burn everything."

Potential targets

Sources in the armed factions and security services predict Israel could hit several targets, including the headquarters of the Popular Mobilisation Forces (PMF), a governmental umbrella organisation that oversees various paramilitaries, including those close to Iran.

Last week, rumours were rife in political and media circles that Israel had drawn up a list of 35 targets in Iraq, including the locations and names of political leaders and the heads of armed factions. 

Yet paramilitary commanders and security officials insisted to MEE there is no indication that such a list exists.

“Its targets in Iraq are known and clear. It will attack the camps of some armed factions, as well as the camps and headquarters of the Popular Mobilisation Forces, and may target some commanders of the armed factions,” a senior PMF official told MEE.

“The only two figures who are actually targeted are Akram al-Kaabi, the commander of Harakat Hezbollah al-Nujaba, and Abu Hussein al-Muhammadawi, the commander of Kataeb Hezbollah,” the official said.

The official noted that the leaders of other Iranian-linked armed factions have traded their military roles for more political and economic ones, and no longer have any real influence on the armed resistance to Israel.

“The Israelis and Americans know this and are well aware of it, and have no interest in targeting them,” he said.

On Tuesday evening, immediately after the Iranian missile attack ended, the anti-Israel Iraqi paramilitaries that make up the “Islamic Resistance” issued a joint statement. They said they would not target US interests and military bases in Iraq unless Washington helps Israel attack Iran, or if Iraq’s airspace is used for Israeli bombing raids.

“Then all American bases and interests in Iraq and the region will be our target,” the statement said.

“All parties agreed to stop any military operations at this stage, but if Israel strikes any of them, everyone will respond at once,” a Harakat Hezbollah al-Nujaba commander told MEE.

"American and Israeli interests in Iraq and the region will all be targeted."

Precautionary measures

Sudani has put all Iraqi military forces on high alert since Tuesday evening. Most armed faction commanders have not appeared in public since then.

Meanwhile, a meeting was convened by the Popular Mobilisation Forces' leadership on Monday to discuss the latest developments and ways to secure its offices and forces, commanders told MEE.

According to one person present at the meeting, they all agreed to avoid engaging in the escalating regional conflict, including attacking US forces in Iraq, which they had done repeatedly before the beginning of this war.

They also decided to reduce the number of paramilitary troops at their headquarters and inform commanders to avoid being there, too.

The PMF leadership agreed to send all commanders strict instructions that all the fighters registered with the organisation should not be involved in the regional conflict in any way.

“If they decide to engage in the battle, they should not use their fighters registered on the Popular Mobilisation’s payroll, or its vehicles or equipment,” said the source at the meeting.

One senior commander, who was also at the meeting, described the situation as “very critical” and said “any mistake, we will all pay the price for”.

“We are targeted. Our troops’ locations, headquarters and weapons warehouses are exposed and known, so there is no room for any uncounted action,” he said.

“It is easy. We are regular troops, so our choice is the government’s choice. It is that simple.”  link

Mot: . Ahah!!! -- it's a Trick!! -- but I Fooled um!!  

Mot:  .. Fall is Here -- or is it -----

News, Rumors and Opinions Saturday AM 10-5-2024

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

RV Excerpts from the Restored Republic via a GCR: Update as of Sat. 5 Oct. 2024

Compiled Sat. 5 Oct. 2024 12:01 am EST by Judy Byington

Possible Timing: (Rumors)

On Tues. 1 Oct. 2024 the US Inc. Corporation ended their fiscal year without further funding by Congress from the fiat US Taxpayer Dollar, ending the fiat monetary system.

Tues. 1 Oct was also the deadline for all banks to close worldwide which were not Basel III Compliant (have gold backed currency).

On that same Tues. 1 Oct. the Quantum Financial System Global Currency Reset (allegedly) activated with at least 144 countries currencies being gold/asset-backed and trading at a 1:1 with each other, including the new gold-backed US Note of the new United States of America Republic.

On Tues. 1 Oct. 2024 the new United States of America Republic (allegedly) began its new fiscal year under a gold-backed US Note.

Wed. 2 Oct. 2024: 150 bankers who were holding up the RV were (allegedly) arrested today.

On Thurs. 3 Oct. 2024 Iraq celebrated their Independence Day.

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Global Currency Reset: Everything was done. Nothing new to report.

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Global Financial Crisis:

Fri. 4 Oct. 2024: Expert Says US Dollar is Nearing The ‘End of the Line.’ With the BRICS bloc increasing its opposition to Western hegemony, one expert has noted that the US dollar is likely nearing the ‘End of the line.’ Indeed, the currency has faced a growing de-dollarization movement on a global scale. With an economic crisis burgeoning in the country, it could spell a perfect storm for the greenback struggle.  The BRICS group has firmly embraced a position against the dollar in its policies.  That has led the way to increased local currency promotion that carries it ever closer toward a multipolar world. With the 2024 annual summit nearing, there could be even greater de-dollarization developments.  That is especially true with the BRICS Pay system nearing an official launch. https://x.com/bricsinfo/status/1842261098109763958?s=46&t=KbeHKcWo9iYbqqIySY5EJA

Operation Sandman is a collaboration of 100+ nations in agreement to simultaneously sell off their US Treasury holdings, sending them back to the US to collapse the US Dollar.

The 12 reserve banks are private corporations controlled by unelected members in the private sector.

For the last 24 hours Google has not put out any stock market news from Europe.

Read full post here:  https://dinarchronicles.com/2024/10/05/restored-republic-via-a-gcr-update-as-of-october-5-2024/

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

Militia Man  World Bank [report] today praising Iraq, is in line with ample work is being done and yet to be reported. With as good as that report is and there is more to come that is suggested to be even better is amazing.

Frank26    We know everything up to the float is done.   To make it international will take you from the float to the REER.

RayRen98   THE CLOCK IS "NO LONGER" TICKING...IT'S DONE!  ALL CURRENCIES ARE SET TO "GO" THIS TIME...NO TECHNICAL ISSUES PRESENT.

Central Banks Desperate Action to Avoid Currency Collapse with Matthew Piepenburg

WTFinance:  10-4-2024

On this episode of the WTFinance podcast I had the pleasure of welcoming back Matthew Piepenburg. Matthew is a Partner of Von Greyerz AG and critic of current monetary policy actions of central banks.

During this conversation we spoke about his thoughts on the economy, why there is a debt trap, no expectation of real growth in the future, private vs public debt, calculating US Dollar devaluation, precious metals and more. I hope you enjoy!

 0:00 - Introduction

1:42 - Current thoughts on the economy?

7:16 - Concentration of growth

12:38 - Private vs public debt crisis

 26:31 - Calculating US Dollar devaluation?

 32:26 - Can they decrease the deficit?

40:16 - Why nothing about gold or silver?

50:10 - One message to takeaway?

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

MilitiaMan: Iraqi Dinar Update - Iraq Dinar News -World Bank - Report - Central Bank Governor: Mechanism in Euro

Iraqi Dinar Update - Iraq Dinar News -World Bank - Report - Central Bank Governor: Mechanism in Euro

MilitiaMan and Crew:  10-4-2024

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=N9aAElIn8uo

Seeds of Wisdom RV and Economic Updates Saturday Morning 10-5-24

Good Morning Dinar Recaps,

XRP CASE NEWS : SEC APPEAL AGAINST RIPPLE DOCKETED

The battle between the SEC and Ripple does not seem to end in the near future as the appeal by the commission against court order dated August 7 has been docketed. This move has started another round in this conflict. Though sec has submitted the appeal notice, it still has time to submit the complete appeal briefing. But Ripple’s leaders are not backing down. They remain confident that they are on the winning side of the law.

SEC Appeals Ripple Case Decision
The SEC has officially filed its appeal in the Ripple case, registering it with the United States Court of Appeals for the Second Circuit.This comes after Judge Analisa Torres, ruled out that not all sales of XRP are securities and she put a civil fine of $125 million on Ripple for institutional sale of XRP tokens.

Attorney James K. Filan confirmed the filing and shared screenshots of the appeal that is now docketed under case number 24-2648. The appeal brings the legal clash between Ripple and the SEC back into the spotlight.

Ripple’s Legal Team Responds
Stuart Alderoty, Ripple’s Chief Legal Officer, didn’t seem too surprised by the SEC’s move. In fact, he called it disappointing but not unexpected. According to him, the court had already dismissed the SEC’s accusations that Ripple acted recklessly.

There were no fraud allegations, and no one suffered any losses. He hinted that Ripple might even file a cross-appeal, but either way, the company is ready for whatever comes next.

Ripple’s CEO Speaks Out
Ripple CEO Brad Garlinghouse wasn’t shy about sharing his frustration. Posting on X (formerly known as Twitter), he slammed the SEC for continuing the case. According to Garlinghouse, the SEC’s actions haven’t helped protect investors. Instead, they’ve damaged the credibility of the agency itself.

He pointed out that Ripple, the crypto industry, and even the rule of law have already won in court. Garlinghouse is clear—XRP’s status as a non-security won’t change, no matter what the SEC tries next.

Internal Shake-ups in Commission
A spokesperson for the SEC explained the agency’s reason for appealing. They believe the district court’s ruling contradicts decades of legal precedent set by the Supreme Court. The SEC is eager to argue their case in front of the appellate court.

At the same time, the SEC’s Enforcement Director, Surbir S. Grewal, has announced his resignation. He’s stepping down from his role on October 11, sparking questions about internal disagreements over the Ripple case.

@ Newshounds News™

Source:  Coinpedia

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COINBASE TO DELIST USDT AND UNAUTHORIZED STABLECOINS IN EU BY YEAR-END UNDER MICA REGULATIONS

Coinbase, a leading cryptocurrency exchange, has announced plans to delist all unauthorized stablecoins, including Tether's USDT, from its platform in the European Economic Area by December 30, 2024

Coinbase has announced plans to delist all unauthorized stablecoins, including Tether's USDT, from its platform in the European Economic Area by December 30, 2024.

This move is in response to the European Union's new Markets in Crypto Assets (MiCA) regulations, which require stablecoin issuers to secure e-money authorization in a member state.

The MiCA regulations, which became effective in June 2024, aim to ensure regulatory compliance and consumer protection within the EU's cryptocurrency market.

Coinbase's decision to delist non-compliant stablecoins underscores its commitment to adhering to these new regulatory standards and addressing non-compliance issues.

@ Newshounds News™

Source:  The Defiant

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HK’S BANK OF EAST ASIA TESTS STABLECOIN ISSUANCE USING UDPN

Hong Kong’s Bank of East Asia (BEA) recently conducted a proof of concept (PoC) involving issuing stablecoins using the Universal Digital Payments Network (UDPN). It tested both the issuance and redemption of stablecoins (minting and burning) and trialed a mobile application for clients.

Today most stablecoin usage happens in the cryptocurrency world or jurisdictions where consumers are keen to access dollars. One reason stablecoins haven’t gone mainstream is because of missing pieces of infrastructure. However, that is changing, meaning stablecoins will become increasingly competitive with bank payments, especially cross border. Banks are not standing by. They’re engaging in multi-bank tokenized deposit trials and issuing their own tokenized deposits or stablecoins.

The UDPN is a multi-faceted project supporting the issuance of stablecoins and tokenized deposits, as well as providing an interoperability layer between different digital currencies, including central bank digital currencies (CBDCs).

“Through our PoC with UDPN, we gained insights into global practices on Central Bank Digital Currencies (CBDCs) and the mechanism of stablecoins,” said the BEA’s Stephen Leung, Group CIO, General Manager and Head of Technology and Productivity Division.

“Experiments were conducted on the issuance of stablecoins, as well as the transfer and swapping between CBDCs and stablecoins. Cross-chain interoperability was also examined between stablecoins and digital currencies on different blockchains. This has laid (an) important foundation for any partnership opportunities that may arise in the future.”

Earlier this year the bank took part in a DLT repo transaction with HSBC involving digital green bonds issued by Hong Kong.

The UDPN was founded by Red Date Technology, the co-founder of China’s Blockchain-based Service Network (BSN) and the international BSN Spartan Network. Its development partner is the GFT consultancy. Earlier this year it launched a sandbox for banks.

Hong Kong’s digital currency activities
Meanwhile, the Hong Kong Monetary Authority (HKMA) is running at least three digital currency sandboxes, although this PoC was not part of them. The HKMA recently announced the expansion of its retail CBDC sandbox to include tokenized deposits. Plus, it has a sandbox for stablecoins and another for the institutional use of wholesale CBDC, which is part of Project Ensemble.

@ Newshounds News™

Source:   Ledger Insights  

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STABLECOIN ISSUER TETHER TO DEVELOP NEW SOLUTION FOR EUROPEAN MARKET

Tether is preparing to launch a new technology specifically for the European market. This strategic move comes in response to changing regulatory frameworks in the region, especially as MiCA (Markets in Crypto Assets) regulations come into full effect.

As part of the adjustment, Coinbase has announced plans to delist non-compliant stablecoins, including Tether’s USDT, from the European Economic Area (EEA) by December 30, 2024. This shift could reshape the landscape for European crypto users.

Stablecoin Market and MiCA
The new crypto regulation of the EU, MiCA, is designed to bring more safety and control to the cryptocurrency sector. However, these new sets of rules also pose risks for certain stable coins like USDt. The regulation requires at least 60% of the stablecoin reserve to be held in EU based banks however many banks in Europe can only insure deposits up to $100,000.

This poses high risk for stablecoins like USDt. Paolo Ardoino expressed his concerns about the risk this regulation can pose for stablecoins as well as banking systems.

Although some aspects of MiCA create obstacles, Tether praised the EU for building a well-structured regulatory environment. This framework, they say, is essential for the long-term growth of the industry.

Coinbase’s Deadline for Delisting Stablecoins
Coinbase has set December 30, 2024, as the deadline. By this date, all non-compliant stablecoins will be delisted in the European Economic Area. It’s a significant move for Europe however stablecoin services for other regions will remain unharmed. Several other exchanges like OKX and Bitstamp have already taken similar steps, preparing for MiCA’s full implementation.

Circle’s USDC, a stablecoin that meets MiCA’s requirements, is expected to remain available for European users. Coinbase users in European financial zones holding USDt or other non-compliant stablecoins must convert them. They will need to switch to compliant ones like USDC before the deadline.

Tether’s Response to MiCA
Tether is addressing the regulatory changes by creating a technology solution designed specifically for Europe. Although they haven’t shared the full details yet, the company indicated that the solution will focus on meeting the needs of Europe’s stable and structured economy.

This new initiative is part of Tether’s larger plan to keep a strong presence in the European crypto market, even with the regulatory challenges.

What This Means for Crypto Users?
Despite these hurdles, Tether is positive about its future in Europe and is working directly with regulators to develop workable solutions. For European users, Coinbase’s delisting and MiCA’s new rules mean that you may need to reconsider which digital assets to hold. Switching to MiCA-compliant stablecoins like USDC is one option to ensure your portfolio stays secure under the new laws.

Tether’s upcoming product could also provide new opportunities for users who prefer USDT, but it’s important to stay informed and prepared for the coming changes.

@ Newshounds News™

Source:  Coinpedia

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