Seeds of Wisdom RV and Economic Updates Monday Evening 10-7-24

Good Evening Dinar Recaps,

ECB STUDY: US MONETARY POLICY HAS BIGGEST IMPACT ON STABLECOIN MARKET CAP
In an important speech today, European Central Bank (ECB) director Piero Cipollone proposed the creation of a European ledger, the EU’s version of the Unified Ledger, to support tokenization in the capital markets. He noted the challenges in creating a conventional Capital Markets Union, including the need for greater legal harmonization.

The Director highlighted some risks in moving towards digital assets and distributed ledger technology (DLT). But rather than viewing tokenization as a threat, he said the EU should embrace the clean sheet opportunity to create a Digital Capital Markets Union. He was speaking at a Bundesbank Symposium.

A European Ledger
“A European ledger could bring together token versions of central bank money, commercial bank money and other digital assets on a shared, programmable platform,” said Mr Cipollone. “In essence, this would see T2S evolving into a DLT-based, single financial market infrastructure for Europe.

While central banks would provide the platform, or the ‘rails’ so to speak, market participants would supply the content, or the ‘trains’.” T2S refers to the EU high value payment system used for the settlement of securities transactions in central bank money.

Since May, the European Central Bank has been coordinating the Eurosystem’s DLT trials for wholesale settlement using central bank money. With 60 private sector organizations taking part, it can see the level of interest and engagement. 

While the EU’s DLT Pilot Regime, which relaxes some of the current EU laws, has not been embraced by incumbents, the first startups are likely to be approved soon.

A key driver behind the likely launch of the retail digital euro is the loss of sovereignty over payment systems to the likes of Visa and Mastercard. The same motivation applies to the capital markets.

“If we drag our feet while other jurisdictions move faster and produce better solutions, we could see financial activities migrating elsewhere and private entities from outside the EU assuming a dominant position in European capital markets,” said Mr Cipollone.

Talking about the potential for tokenization and DLT, he said, “These technologies do not just have the potential to enhance efficiency. They could also fundamentally reshape the very structure of financial intermediation – a system that has remained largely unchanged for centuries.”

The risks of a failure to act
The Director outlined three potential risks of the move toward the tokenization of financial markets. He noted that to date, many institutional initiatives have focused on issuance, especially digital bonds. The proliferation of issuance platforms has already highlighted increasing fragmentation, more so than the current fragmentation between separate central securities depositories (CSDs). A coordinated approach could prevent this fragmentation.

Secondly, institutions want to use cash on chain. If there’s no central bank cash available, then they will use tokenized deposits of stablecoins.

The third risk is more about the unknown. Tokenized securities carry the risks inherent in securities, but there will be new risks. Some risks depend on the settlement asset. He mentioned liquidity risks without specifically referring to a settlement asset backed by money market funds, that could create heightened volatility during turbulent market periods.

The central banks’ role is to ensure the continued, and perhaps increased role of central bank money and to promote “robust, stable and integrated” capital markets.

Mr Cipollone mentioned the challenge of choosing a technical direction. By adopting a single technology, this will discourage exploration of other technologies during a period of innovation. Hence, the alternative is to encourage interoperability between diverse networks, including existing ones. This is a more flexible approach, although we’d observe it will sacrifice some efficiencies.

DLT trial extension?
In terms of concrete actions, following the settlement trials ending next month, the ECB and Eurosystem are exploring how it can build on that. That implies either extending the timeframe or making some or all solutions permanent.

Additionally, it plans to explore allowing DLT-based assets to be used as collateral in the Eurosystem. We’d note that the Swiss National Bank extended its wholesale CBDC trial by two years and already accepts DLT-based collateral.

The director said some interoperability systems are considered a stop gap towards migrating to the longer term vision. This might be a nod to the use of the Trigger solution in the current settlement trials. Instead of providing a digital currency, the Trigger solution links DLTs to the conventional T2S settlement system.

“In embracing this technological shift, we are not merely reacting to change, but actively participating in shaping a more efficient, innovative and resilient financial future for Europe,” Mr Cipollone concluded.

@ Newshounds News™

Source:  Ledger Insights

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BRICS NEWS:  BRICS EYES ‘PETROYUAN’ TO CHALLENGE DOLLAR DOMINANCE AHEAD OF KEY SUMMIT

▪️BRICS is considering using the Chinese yuan for oil payments to reduce reliance on the U.S. dollar.

▪️Saudi Arabia is open to trading oil in yuan, though it prioritizes keeping politics out of commerce.

The BRICS alliance, comprising Brazil, Russia, India, China, and South Africa, is reportedly exploring the potential introduction of a “petroyuan” to rival the dollar’s dominance in the global oil trade.

This is expected to be taken up at the next BRICS summit in Kazan, Russia, to establish an alternative to oil payments in dollars using the yuan.

This comes after the biggest oil exporting nation in the world, Saudi Arabia, showed interest in pricing oil in yuan, which is a major blow to the petrodollar system.

Traditionally, the country has sold its oil in US dollars but has expressed interest in diversifying its trade basket per current international financial practices. Russia is also interested in the petroyuan, as Moscow aims to decrease the use of the US dollar and facilitate transactions through SWIFT.

Following its exclusion from SWIFT in 2022 due to the conflict in Ukraine, Russia has been exploring alternative methods for international financial transactions.

OMFIF Report Highlights Petroyuan Adoption Challenges
While the idea of a petroyuan presents opportunities for the BRICS nations, challenges remain. A recent report from the Official Monetary and Financial Institutions Forum (OMFIF) identified several challenges many countries may face when adopting a yuan-based oil payment system.

 A limitation is that surpluses from oil revenues can only be used to purchase goods from China or stored in foreign currencies. This means that BRICS financial intermediaries would be forced to transfer the yuan to other countries in need.

Chinese banks stand to benefit most from this system, earning profits by managing these surpluses. Other Western financial institutions may also participate, given the possibility of making profits from differences between oil prices in dollars and yuan. However, adopting the petroyuan can further hinder the development of the global payment system.

However, Saudi officials have stated that politics will have no role. Bandar Al-khorayef, Saudi Arabia’s minister of industry and mineral resources, pointed out that while the country is willing to consider the use of new instruments in trade, such as the petroyuan, it will not mix politics with business. 

The BRICS nations are also considering the creation of their own currency for trade within the alliance, with some reports suggesting it may be backed by gold.

IMF Analysis Reveals BRICS Outperforms G7
As highlighted by Crypto News Flash, President Putin recently spoke about the creation of the BRICS pay, a blockchain-based payment system. The system is intended to support foreign trade operations and transactions not involving Western financial systems.

Crypto News Flash recently reported that, based on the IMF’s analysis, BRICS has outperformed the G7 in several key metrics. Notably, BRICS has emerged as the leading producer of oil imports.

The group accounts for 41% of the world’s oil production, a figure higher than the G7’s 29%.  Also, BRICS has the largest population share in the global population, accounting for 45% of the global population, while the G7 countries account for only 30% of the global population.

Moreover, the BRICS countries have now reported 32% of the world GDP while the G7 has reported 29%, which shows the growth of developing countries.

@ Newshounds News™

Source:  Crypto News Flash

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WHICH COUNTRIES ARE WINNING THE CRYPTO RACE?  |  YOUTUBE

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Seeds of Wisdom RV and Economic Updates Monday Morning 10-7-24

Good Morning Dinar Recaps,

XRP NEWS: WILL RIPPLE AND SEC SETTLE DURING 14-DAY APPEAL PERIOD?

▪️Speculation has increased around the SEC vs Ripple case as experts provide contradictory opinions on the probability of a formal appeal after a notice of appeal was submitted on October 3.

▪️A former SEC lawyer believes that the consistent approach of the Agency implies that its decision is not motivated by an increment of the $125 million penalty.

CNF recently reported that the US Securities and Exchange Commission (SEC) has filed a notice of appeal with the States Court of Appeals for the Second Circuit. 

According to a SEC spokesperson, the Commission’s decision stems from its observation of a contradiction between a part of Judge Analisa Torres’ XRP ruling in July 2023 and a decade-long precedent set by the Supreme Court. Meanwhile, an XRP analyst and enthusiast identified as JackTheRippler believes that the blockchain company and the Commission could reach an agreement within 14 days.

According to this enthusiast, SEC’s decision to appeal hinges on the desire to increase the initial penalty of $125 million imposed on Ripple. However, the former SEC lawyer, Marc Fagel, who rightly predicted the appeal decision thinks otherwise.

🚨BREAKING: The SEC and @Ripple can reach a settlement during the 14-day period following the “NOTICE of appeal” The SEC wants more money and appealed against the $125M.#XRP‘s status cannot be changed and will never be considered a security! pic.twitter.com/9AOCbdQXhD— JackTheRippler (@jack_rippla) October 6, 2024

Commenting on this, Fagel hinted that the consistency in the approach of the Commission, starting from its Interlocutory appeal last year over the programmatic sales of XRP, implies that the reason for its appeal is far from the penalty amount. To him, there is no reasonable basis to expect a settlement even though this is theoretically possible.

Ripple (XRP) Executives and Industry Lawyers Speak Out
In a brutal response, Ripple Chief Legal Officer (CLO) Stuart Alderoty, accused the SEC of deliberately staging litigation warfare against the crypto industry. According to him, Ripple would study the situation and file a cross-appeal.

We are evaluating whether to file a cross-appeal. Either way, the SEC’s lawsuit has been irrational and misguided from the start, and we’re ready to prove that yet again in the appellate court (once again taking the lead for the industry).

Joining the conversation, lawyer Bill Morgan clarified that the Commission has only filed a notice of appeal. According to him, both parties could potentially negotiate for a settlement within 14 days.

On the other hand, Morgan believes that this possibility could also be highly unlikely considering the SEC’s recent stance on the crypto industry. In this case, he advised that Ripple challenge the institutional sales to On-Demand Liquidity (ODL) customers if it decides to cross-appeal.

Meanwhile, Ripple CEO Brad Garlinghouse thinks this appeal is “misguided” and “infuriating”.

While we’ll fight in court for as long as we need, let’s be clear: XRP’s status as a non-security is the law of the land today – and that does not change even in the face of this misguided – and infuriating – appeal. Remember, when the SEC tried unsuccessfully to file an “interlocutory appeal” they made clear they had no intention of challenging XRP’s status as a non-security.)

@ Newshounds News™

Source:  Crypto News Flash

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CRYPTO IN THE UAE JUST GOT A TAX BREAK : NO MORE VAT ON DIGITAL ASSETS!

The UAE has once again planted itself in the spotlight for the crypto space with its recent Dubai crypto tax changes. While most countries are struggling to give crypto its space in the economy, the UAE is leading by setting various examples.

This time, the UAE has brought big changes to its tax rules for crypto. On October 02, the Federal Tax Authority (FTA) made an announcement about new updates to Value Added Tax. Transfers and conversions of digital assets, including cryptocurrencies, are now exempt from VAT. This update even applies retroactively to transactions dating back to 2018.

What’s the Deal With Virtual Assets and VAT?
If you’re running a business in the UAE that deals with virtual assets—like buying, selling, or converting crypto—this change could mean you owe less tax. And the best part? It applies retroactively from January 1, 2018, which could lead to some major tax savings.

But there’s a bit more to it. If your company has been paying VAT on these transactions since 2018, you might want to take a closer look at your old tax returns. There could be a chance to correct past filings and claim back VAT that you shouldn’t have paid in the first place.

 This process is called input VAT recovery, and it allows businesses to get back the VAT they’ve already paid on business- related expenses.

New VAT Rules for Exports and Services
The changes don’t just affect crypto companies. Exporters in the UAE will also see some shifts in how they handle VAT. It’s now easier to apply the zero VAT rate when exporting goods, as the documentary requirements have been relaxed. On the flip side, exporting services—especially those tied to real estate or digital activities—may now be subject to the standard VAT rate.

VAT Exemptions for Investment Funds
It’s not just crypto businesses celebrating these changes. Investment funds are also getting a VAT break. Fund managers, and those running licensed investment funds, can now benefit from VAT exemptions, which could lower their operating costs. These savings might help investment firms reinvest in their growth, especially when working with services from outside the UAE.

What’s Next for Crypto Regulations?
Aside from the tax updates, the UAE is tightening its regulations on cryptocurrencies. Dubai’s Virtual Asset Regulatory Authority (VARA) is teaming up with the Securities and Commodities Authority (SCA) to monitor crypto businesses more closely. If you’re in the business of promoting virtual assets, you’ll need to make sure you include a disclaimer in your marketing materials. It must warn that virtual assets can be extremely volatile and might lose value quickly.

What Should Businesses Do Now?
These updates are a game-changer for companies in the UAE—especially those dealing with crypto. Whether you’re managing virtual assets or running an investment fund, now’s the time to review your tax strategy. By adjusting to these new regulations, businesses could save money and avoid unnecessary complications in the future. And with the UAE aiming to be a global hub for digital assets, keeping up with these changes is key to staying competitive.

@ Newshounds News™

Source:  Coinpedia

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HONG KONG ISSUES THIRD CRYPTO TRADING PLATFORM LICENSE, PLANS MORE APPROVALS

11 more platforms are currently on the SFC’s "deemed-to-be-licensed" list.

Hong Kong’s financial regulator has granted its third license under the new crypto trading platform regime, with plans to approve more by the end of the year.

In an interview with local media outlet HK01, Julia Leung, Chief Executive of the Securities and Futures Commission (SFC), confirmed that HKVAX is the latest firm to receive a license to operate as a crypto exchange in Hong Kong.

This follows earlier approvals for OSL and HashKey, which are already licensed to provide crypto trading services.

11 More Platforms Are Under Consideration
Leung highlighted that 11 other platforms are currently on the SFC’s “deemed-to-be-licensed” list, which includes firms that have submitted applications under the new regime.

The SFC has conducted initial onsite inspections of these applicants and has asked them to make necessary adjustments to comply with regulatory requirements.

Leung expressed the regulator’s aim to issue more licenses in batches by year-end.

Anthony Ng, co-founder and CEO of HKVAX, stated that the license aligns with Hong Kong’s ambition to solidify its role as a leading financial hub.

“This approval affirms HKVAX’s position and demonstrates Hong Kong’s commitment to being at the forefront of the virtual asset industry,” Ng said.

Hong Kong’s approach to crypto regulation gained momentum in June 2023, when it formally implemented a licensing framework for crypto trading platforms, enabling them to serve retail investors.

The move was seen as a bid to attract more crypto firms to the city.

However, not everyone is satisfied with the regulatory framework.

Duncan Chiu, a local lawmaker, criticized the rules as “excessively stringent,” suggesting they have deterred some global exchanges from entering the Hong Kong market.

On March 28, 2024, HKVAEX, suspected to be affiliated with Binance, withdrew its license application.

Subsequently, on May 14, IBTCEX, QuanXLab, and Huobi HK followed suit, followed by Gate.HK on May 22, OKX HK on May 24, and Bybit (Spark Fintech Limited) on May 31.

Meanwhile, Bullish and Crypto.com remain on the SFC’s list of pending applicants.

Crypto Exchange Applicants Face Uncertainty After Inspections
As reported, 11 Hong Kong cryptocurrency exchanges, which initially received provisional approvals, have come under regulatory scrutiny.

This came after the city’s SFC conducted on-site inspections of these “deemed-to-be-licensed” platforms and found several practices that fell short of regulatory expectations.

The inspections revealed that some crypto firms are overly dependent on a limited number of executives for the custody of client assets, raising concerns about their ability to manage these responsibilities effectively.

Additionally, some exchanges were found lacking in robust measures to protect against cybercrime.

The SFC has not disclosed which specific firms failed to meet the standards, and the inspections are still ongoing, leaving the possibility of further findings.

The SFC warned that platforms unable to address critical deficiencies identified during inspections could face the removal of their “deemed-to-be-licensed” status or have their license applications rejected outright.

@ Newshounds News™

Source:  CryptoNews   

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XINFIN XDC THE MOST UNDERVALUED COIN - DIGITAL TRADE IS READY TO EXPLODE  |  Youtube

@ Newshounds News™

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 DON'T MISS A NOTIFICATION AND SUBSCRIBE  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Newshound's News Telegram Room Link

Q & A Classroom Link  

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Thank you Dinar Recaps

News, Rumors and Opinions Monday AM 10-7-2024

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

RV Excerpts from the Restored Republic via a GCR: Update as of Mon. 7 Oct. 2024

Compiled Mon. 7 Oct. 2024 12:01 am EST by Judy Byington

Sun. 6 Oct. 2024 You should be excited as the rest of your life is starting today. …Julian Assange: https://t.me/JulianAssangeWiki/2372

Banks are in check.
• Government is in check.
• Wall Street is in check.

• Ports are in check.
• The entertainment industry is in check.
• The Legal system is in check.

All of this is happening today and will have ripple effects for decades. You will witness it all in real-time and see accountability unfold like never before. There will be no more getting over on the American people. Your country will shift towards programs that serve you or else. And that’s the way it’s going to be for centuries. We deserve it. You deserve it. Your children deserve it. To solidify this, we must witness what Law & Order can do for a country under siege. This will be the stamp of approval.

Banks on a leash: No more reckless speculation. No more shady deals. For the first time, the banking system is being held accountable. The gold-backed system will protect your hard-earned wealth with real value, not inflated promises.

Wall Street’s Days of Manipulation Are Over: The financial elites are finally being put in check. No more market rigging, no more siphoning wealth from the middle class. The rise of decentralized, asset-backed systems ensures real value drives the market.

Ports Flowing with Integrity: No more backroom deals creating shortages. Goods will now flow through the ports with fair labor practices, ensuring a system built on trust and cooperation.

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Global Currency Reset: (Rumors/Opinions)

Sat. 5 Oct. 2024 Wolverine: With the news that the Pentecostal group has finally released payments to their leaders it’s the start of the domino effect that soon others will start soon as well. The Precatorias should start by this week and hopefully the rest will follow. Please remain patient and believe this is happening. With the release of the Pentecostal group it’s a sign that this has started. Glory to God. God bless everyone of you. Your friend Wolverine

Sun. 6 Oct. 2024: QFS NEWS: All Banks are Transitioning Over Into the QFS – Start Getting Hold of the ISO 20022 XLM and XRP – 8 Billion People Will Inevitably Transition to the QFS. The world is on the brink of an unprecedented financial revolution, and the powerhouses of the banking sector are quaking in their boots. The Quantum Financial System (QFS) is here, and it’s changing EVERYTHING. Prepare yourselves, the revolution has begun! https://amg-news.com/qfs-news-all-banks-are-transitioning-over-into-the-qfs-start-getting-hold-of-the-iso-20022-xlm-and-xrp-8-billion-people-will-inevitably-transition-to-the-qfs/

Sun. 6 Oct. 2024: BOOOM!! There are a total of 179 central banks listed by the BIS with about 80 more when counting regional monetary authorities among the 209 countries— all these are being connected too.

Sun. 6 Oct. 2024: New List of 209 Countries That Are Connected to The QFS System or are Being Connected – QFS + RTGS Trust The Plan! https://amg-news.com/update-new-list-of-209-countries-that-are-connected-to-the-qfs-system-or-are-being-connected-qfs-rtgs-trust-the-plan/

Read full post here:  https://dinarchronicles.com/2024/10/07/restored-republic-via-a-gcr-update-as-of-october-7-2024/

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

Militia Man  If you add up the oil, non-oil, tourism, all of the thing that's where they're going to be able to support the value of their exchange rate with a Real Effective Exchange Rate - Once approved by the IMF, Bank of International Settlements, The World Bank...This is really getting hot!

Mnt Goat   I was also told to watch for yet more articles in the news about the project to delete the zeros but to be aware that ONLY the ones coming from her committee on this subject matter can be trusted. As you know my contact works on the committee from the Central Bank and it has been given the task of ensuring a smooth process. I was also told
that in late November or early December we will see the newer lower denominations and their pictures and features depicted on the CBI site. The ending of the currency auctions at the end of 2024 will also be signal to us that everything is moving correctly and we should see the IQD returned or reinstated back to FOREX in early 2025.

MARKETS A LOOK AHEAD: WHAT IS ABOUT TO HAPPEN WILL BLOW YOUR MIND. (Important Updates).

Greg Mannarino:  10-6-2024

https://www.youtube.com/watch?v=VHix3dA7EHE

"Be PREPARED For What's COMING..." - George Gammon

10-6-2024

George offers his perspective on the likelihood and potential severity of a looming recession, drawing parallels to past economic crises. He emphasizes the importance of understanding these cycles and being prepared for what might come next.

https://www.youtube.com/watch?v=zTyfck-ez98

Iraq Dinar News-Iraqi Dinar-Liquidity-Sudani Report-Digital Phase-Supreme Court Ruling-Text SMS-ATMs

Iraq Dinar News-Iraqi Dinar-Liquidity-Sudani Report-Digital Phase-Supreme Court Ruling-Text SMS-ATMs

MilitiaMan and Crew:  10-6-2024

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=7E1b5sikkPY

“Humor While We Wait” Posted by Mot at TNT

TNT:

Mot:  The Curtain Rods

She spent the first day packing her belongings into boxes, crates and suitcases.

On the second day, she had the movers come and collect her things.

On the third day, she sat down for the last time at their beautiful dining room table by candle light, put on some soft background music and feasted on a pound of shrimp, a jar of caviar and a bottle of Chardonnay.

When she had finished, she went into each and every room and deposited a few half-eaten shrimp shells dipped in caviar, into the hollow of the curtain rods. She then cleaned up the kitchen and left.

When the husband returned with his new girlfriend, all was bliss for the first few days. Then slowly, the house began to smell. They tried everything cleaning, mopping and airing the place out.

Vents were checked for dead rodents and carpets were steam cleaned.

Air fresheners were hung everywhere. Exterminators were brought in to set off gas canisters, during which they had to move out for a few days, and in the end they even paid to replace the expensive wool carpeting.

Nothing worked. People stopped coming over to visit. Repairmen refused to work in the house. The maid quit.

Finally, they could not take the stench any longer and decided to move.

A month later, even though they had cut their price in half, they could not find a buyer for their stinky house. Word got out and eventually even the local Realtors refused to return their calls.

Finally, they had to borrow a huge sum of money from the bank to purchase a new place.

The ex-wife called the man and asked how things were going. He told her the saga of the rotting house. She listened politely and said that she missed her old home terribly, and would be willing to reduce her divorce settlement in exchange for getting the house back.

Knowing his ex-wife had no idea how bad the smell was, he agreed on a price that was about 1/10th of what the house had been worth, but only if she were to sign the papers that very day.

She agreed and within the hour his lawyers delivered the paperwork.

A week later the man and his girlfriend stood smiling as they watched the moving company pack everything to take to their new home......Including the curtain rods.

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

Mot: .. Good Job 

Mot: . Truth be Known 

Mot: Clever he Can Beeeeee   

Mot:  with the Gas Prices so out of Hand!!!! 

Mot: . poor ole ""Opal""

5 Financial Habits Keeping You Broke

5 Financial Habits Keeping You Broke, According to Money Expert Michela Allocca

Caitlyn Moorhead  Thu, October 3, 2024   GOBankingRates

The strategies and habits that lead to your personal financial success aren’t just comprised of big investments and down payments, but also of knowing which things to avoid. According to money expert and financial analyst Michela Allocca, a rising voice in personal finance, certain financial habits are major contributors to keeping people broke.

She said, “Personal finance success is 10% strategy and 90% behavior. There are so many things you can do that are external of your income to help ensure you stay on the right path.”

So many money moves are positive, such as starting an emergency fund, diversifying your portfolio or maximizing your 401(k). However, keep reading to discover the five habits Allocca says you should break unless you want to stay broke.

Earning passive income doesn't need to be difficult. You can start this week.

Not Keeping a Grocery List

If you are living paycheck to paycheck and spending every dollar you earn, there’s no room for impulse buying at checkout if you want to start saving.

Grocery shopping is inevitable, but Michela Allocca said it doesn’t have to derail your monthly budget. Keeping a grocery list is a great way to ensure you stick to your budget while shopping.

“Having a grocery list and shopping my pantry makes it so much easier to save money on food and not waste anything,” added Allocca. “It’s a simple habit that makes a big difference!”

Not Tracking Your Expenses

One of the most common mistakes people make is failing to create and stick to a budget. One of the biggest culprits in this is not tracking your expenses.

“You need to be doing this to know where your money is going,” she said.

Allocca stressed that budgeting is not about restriction but about clarity and control over your money. Without a clear plan, it’s easy to overspend and lose track of where your money is going.

Signing Up For Shopping Email Lists

TO READ MORE:  https://www.yahoo.com/finance/news/5-financial-habits-keeping-broke-180032867.html

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 10-6-24

Good Afternoon Dinar Recaps,

BANK OF ENGLAND WANTS TO ENSURE TOKENIZED WHOLESALE TRANSACTIONS USE CENTRAL BANK MONEY

During a speech on October 3rd, the Bank of England’s Sasha Mills outlined the need for tokenized wholesale transactions to be settled in central bank money. Ms Mills is the Executive Director of Financial Market Infrastructure.

“If central bank money is unable to interact with new technologies, there could be a risk of high value wholesale settlement activity moving away from central bank money to private settlement assets, weakening financial stability,” she said.

Ms Mills outlined some of the options to ensure transactions continue to be settled in central bank money. That’s especially relevant since applications opened for the Digital Securities Sandbox, a joint initiative between the Bank and the Financial Conduct Authority.

The first option is to use the omnibus account facility. This allows banks to transfer money to a shared central bank account, where the cash is tokenized as a joint token. That’s the model of Fnality which went live (with limits) last year. 

The Bank also has a long term plan to extend the hours of its renewed RTGS system and is planning a synchronisation interface. This will be an extension of work done as part of Project Meridian which completed last year. Plus, the bank is considering a wholesale CBDC.

In late July the Bank published a discussion paper on innovation in money and payments, inviting input on the synchronisation work and a potential wholesale CBDC. The deadline for feedback is at the end of October. The Bank is also taking part in Project Agorá, which explores the upgrade of correspondent banking using multiple wholesale CBDCs.

“There’s a huge amount of work taking place in industry around the adoption of digital assets; unless we’re alive to this work, the speed at which certain markets and activities become systemic may outpace the ability of policymakers to build infrastructures and frameworks to respond,” said Ms Mills.

The desire for central bank money
It’s worth circling back to why central banks are so keen on using central bank money. The settlement of tokenized assets can use delivery versus payment. Hence, there’s no risk that one party hands over the funds but doesn’t receive the asset. However, that only addresses counterparty risk. 

There’s still credit risk. In other words, if the buyer has money at a bank to pay for the assets, it’s possible the commercial bank could go bust before the settlement.

@ Newshounds News™

Source: Ledger Insights 

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RIPPLE VS SEC NEWS: IS GARY GENSLER ON THE VERGE OF GETTING FIRED?

The SEC recently filed an appeal in the ongoing SEC vs. Ripple case, challenging Judge Torres’ ruling. Many analysts have already discussed reasons why this appeal likely won’t succeed, given the low odds of overturning the original decision. 

Ripple’s Chief Legal Officer, Stuart Alderoty, had previously pointed out that the success rate for appeals in similar cases is around 10%, making the SEC’s current appeal an uphill battle.

The ongoing appeal in the XRP lawsuit has had an impact on the market, with XRP’s price dropping significantly following the SEC’s announcement to appeal. Critics, including Ripple CEO Brad Garlinghouse, argue that the SEC’s regulatory approach is harming the industry rather than protecting investors.

Recent meetings within the SEC have revealed increasing dissatisfaction among former and current commissioners regarding the agency’s direction, with calls for a reevaluation of its regulatory strategy. Many are expressing concerns over the SEC’s overreach and the unintended consequences of its enforcement actions, particularly in the case of XRP.

Robert B. Stebbins, General Counsel of the Securities and Exchange Commission, said in a meeting, “I don’t think that the current structure is working very well. I don’t like the idea that, from a big picture, the SEC has someone in corporate finance determining whether something is an important social good—and you’re not, and you’re paying for it.

I think that’s a very ugly argument to make in the fifth circuit when you just look at the last 25 years. Right now, we’re going to have a whole new structure. So, I think the SEC has to be very careful about where they’re going.”

Recent turmoil within the SEC, including the resignation of two lawyers due to misconduct, has intensified scrutiny on Gensler’s leadership. With calls for greater awareness around his actions, some analysts suggest that raising public consciousness about the SEC’s overreach could lead to accountability.

@ Newshounds News™

Source:  Coinpedia

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URUGUAY ENACTS BILL 20.345: URUGUAY’S LEGISLATIVE ADVANCES IN CRYPTOCURRENCY OVERSIGHT

▪️Uruguay passes Bill 20.345, positioning itself as a global and regional leader in cryptocurrency regulation.

▪️The new law categorizes cryptocurrencies, establishing a framework that recognizes digital assets distinct from fiat currency.

Uruguay has recently made significant strides in regulating the cryptocurrency sector with the enactment of Bill 20.345, focusing on Bitcoin (BTC) and other digital currencies.

This legislation positions Uruguay as a pioneer not only in Latin America but also globally, where few jurisdictions have established specific legal frameworks for cryptocurrencies.

As reported by Crypto News Flash, Uruguay now joins nations like El Salvador, Brazil, Argentina, and Venezuela, which possess some of the most developed cryptocurrency regulations in Latin America. This development has sparked both national and international discussions about the implications of such regulation.

The Uruguayan Fintech Chamber (CUF) was among the first to comment on the law, praising the government’s initiative as a significant first step in addressing cryptocurrency operations and recognizing them more formally within the national economy.

According to the CUF, the law establishes a basic framework that acknowledges cryptocurrencies, treating them as assets rather than fiat currency. This is seen as a crucial move towards legitimizing crypto currencies in Uruguay, providing clear guidelines for exchanges and other businesses in the sector to operate legally and transparently.

In the long term, this law has the potential to transform the financial landscape in Uruguay, attracting new investors and companies in the fintech sector.

 In addition, it provides a solid foundation for the development of new technologies and financial services based on virtual assets, which could position Uruguay as a benchmark in the region. – Uruguayan Fintech Chamber.

Furthermore, the legislation categorizes digital currencies into four types as defined by the Central Bank of Uruguay: “value currencies,” “utility tokens,” “stablecoins,” and “others.” This classification aims to create a more transparent regulatory environment and is a key aspect of the law highlighted by Uruguayan lawyer Juan Echeverría.

He noted that this categorization is vital for clarifying the legal status of different types of digital currencies and enhancing measures against money laundering and terrorism financing.

However, the law also introduces challenges, particularly concerning its implementation. The Central Bank of Uruguay is expected to issue detailed regulations in the coming months, which will include the steps for registering cryptocurrency platforms and the operational and legal requirements these entities must fulfill.

For the Fintech Chamber, understanding how these regulations will be executed and the timelines involved is critical. The ability of businesses to quickly adapt to these new legal and operational demands will be essential for the sustainable growth of the sector.

@ Newshounds News™

Source:  Crypto News Flash 

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El Salvador doubles down on Bitcoin, defies IMF concerns  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Economist’s “News and Views” 10-6-2024

US Debt Clock.org Ultimate Guide | US National Debt - PT. 1

Taylor Kenny:  10-6-2024

Explore the rising U.S. national debt and its impact on your financial future.

 Learn why debt per taxpayer is over $270,000 and what it means for the economy moving forward. Stay tuned for part two to find out what’s coming next.

CHAPTERS:

00:00 - Introduction

00:31 - Debt Per Citizen vs Debt Per Taxpayer

01:45 - U.S. Spending and Deficit

02:54 - U.S. Debt-to-GDP Ratio

 03:32 - Consequences of High Debt

04:36 - Preparing for What's Next

https://www.youtube.com/watch?v=kKZ8w5r1Dgg

De-Dollarization: China Squeezes USD Debt By Guaranteeing RMB Bonds In The Global Markets

Sean Foo:  10-6-2024

The currency wars are heating up with China using their world bank to guarantee RMB bonds. This is a big move to internationalize the Chinese currency while chipping away at US dollar dominance in the debt market.

Here's how it works and why this could evolve into a big threat against the dollar system.

Timestamps & Chapters:

0:00 China Challenges USD Debt

 3:14 Beijing Guarantees RMB Loans

4:41 Sponsor: Invideo AI

6:21 China To De-Dollarize Global Trade

10:10 China Economic Plan

12:48 China Debt War Escalates

https://www.youtube.com/watch?v=tNuGmecGM6Y

Hungary SHOCKS the EU by Joining BRICS… What the Hell Is Happening?

10-6-2024

As Hungary faces growing tensions with the European Union over democratic standards and foreign policy, Prime Minister Viktor Orban's government is increasingly looking eastward.

 With legal actions and frozen funds looming, Hungary is finding new opportunities in BRICS, the global bloc challenging Western dominance.

What are the implications of Hungary's shift toward BRICS for its future and the EU?

Find out in this deep dive into Hungary's evolving geopolitical strategy.

https://www.youtube.com/watch?v=esFXJQm-fSc

More News, Rumors and Opinions Sunday Afternoon 10-6-2024

KTFA:

Frank26:  "TRIPARTITE BUDGET IS READY BECAUSE OF THE MONETARY REFORM SUCCESS.".....F26

 Salaries are secured.. Finance Committee: Discussing 2025 budget schedules to begin next month

 Baghdad

The Parliamentary Finance Committee announced that it will begin discussing the 2025 budget schedules early next November.

Member of the Finance Committee, Mohammed Nouri, said in a statement to the official newspaper, followed by (Mawazine News): "The committee reiterated that employees' salaries are fully secured until the end of the current year, and there is no delay."

He added that "the committee is working through its meetings with financial specialists in the Ministry of Finance and the Central Bank to address the delay in financing governorate allocations and ongoing projects, and to launch project packages in the coming few days.

" Nouri indicated that "the committee will begin discussing the 2025 budget schedules early next November, in order to ensure employees' salaries, project allocations, and other financial obligations."

LINK

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Frank26:  "DATA FOR THE HCL DISTRIBUTION"...........F26

2024 Census.. Planning receives 125 thousand tablets and stresses the confidentiality of citizens’ data

10/2/2024

The Ministry of Planning announced that it has received 125,000 tablets that will be used by researchers and enumerators to conduct the general population census, which is expected to be implemented on the 20th of next month.

The ministry's media spokesman, Abdul Zahra Al-Hindawi, said in a press statement, "The past few days witnessed the arrival of 125,000 tablets to the ministry, which will be distributed among researchers and enumerators in the governorates to conduct the general population census that will be implemented on the 20th and 21st of next November, noting that a curfew will be imposed on these days to facilitate the procedures of the census employees."

He added that his ministry had prepared early to conduct the general population and housing census after efforts and preparations to implement the census had reached their peak, having made several strides through training and qualification operations for enumerators and researchers.
Al-Hindawi explained that the aim of the census is to draw a picture and map of the demographic reality to diagnose development gaps and gaps and create an image represented by numbers, statistics, details, data and development reality through sectors related to the characteristics of life. 

He stated that the information that researchers will obtain from citizens will be of the highest degree of confidentiality and will be used exclusively for census purposes, noting that this procedure seeks to achieve development goals and diagnose the defect in order to develop solutions through a long-term plan that depends on the accuracy of the data to reach and identify the drawing of the new map that includes all the needs and services that should be provided.  LINK

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

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:
We seeing in TV a special report show saying what if 1000 dinars became 1 dinar.  They talking about deleting the zeros again.  They've been showing this all day.  They just repeat it over and over again.  And they're saying it's all tied to the reforms.  They talk about all the good and some of the bad...We never seen them talk like this before.  FRANK:  These are the commercials we talked to  you about that were going to be educating you on the purchasing power...They are telling you they lifted 3 zeros from the exchange rate in order for that 1,000 note to become a 1 note...They are not lifting the 3 zeros from your physical cash.

SkyWalker   Flashback Article:  "23 June 2011 the Central Bank of Iraq announced it is planning to delete zeros from the Iraqi dinar, and add Kurdish to the Arabic text on the notes. Said the adviser of Iraqi Central Bank governor Mothahhar Mohammed Saleh, 'The project of deleting zeroes is complete. It will be submitted to the central bank’s administration in the next session. Then, it will be passed to the ministerial council before presenting it to the Parliament for vote. The mechanisms of changing the currency will be gradual. It will be preceded by awareness campaigns for citizens. The new currency will be printed after deleting the zeros and will include the Kurdish language in addition to the Arabic language. It will bear as well photos of Iraq’s civilizations and patrimony in addition to symbols of Iraqi intellectuals and figures.”  There have been similar reports of revaluing the dinar since 2007, but to date none have come to fruition.

US ECONOMIC DECLINE: Money Supply Contraction, Recession, Tariffs on Americans| Dr. Steve Hanke

Lena Petrova:  10-6-2024

Despite official economic data showing a strong labor market and a decline in inflation, US consumers suspect that there may be much more to the story.

As the Federal Reserve cuts rates and the latest jobs report beats all expectations , US economic growth is expected to fall behind that of China and India.

So - what IS really going on? Today I’m very excited to have an opportunity to connect with Dr. Steve Hanke, a well known American economist.

He is a Professor of Applied Economics and Founder and Co-Director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise at The Johns Hopkins University in Baltimore.

https://www.youtube.com/watch?v=po4iCyttgZg

Seeds of Wisdom RV and Economic Updates Sunday Morning 10-6-24

Good Morning Dinar Recaps,

IMF COMPARES CBDC, FASTER PAYMENTS, E-MONEY

The International Monetary Fund (IMF) recently published a paper exploring potential choices between central bank digital currency (CBDC), faster payment systems (FPS) and e-money. Given the IMF’s focus on emerging markets, it highlights the threat to monetary sovereignty of dollar stablecoins and foreign CBDCs.

As always, local circumstances and priorities will influence choices. However, in many economies the three types of payment systems are expected to coexist in the future. The combination of different systems removes any single point of failure, helping to ensure resiliency.

All three types provide efficient instant payments. And they can all enhance financial inclusion, although technology can be a barrier for some users.

Unique advantages of CBDCs
However, the IMF views CBDC as having two unique benefits. By far the largest is ensuring retail access to central bank money continues as cash usage declines. It highlights the downward spiral with cash. As people use it less, fewer merchants remain willing to accept it.

Access to a CBDC addresses the two key monetary sovereignty threats of stablecoins and foreign CBDCs.

“Although stablecoins have not gained much use outside of crypto-asset ecosystems in advanced economies, preliminary data suggest that in emerging and developing market economies, they are being used in a limited capacity for cross-border transactions and remittances (FSB 2024).

The same analysis also suggested that there was a perceived preference for US dollar-denominated stablecoins as a store of value in countries with high inflation, currency devaluation, or the presence of capital flow measures,” the authors wrote. They warn that if there’s significant adoption, a stablecoin could start being used as an alternative unit of account.

The other area where it believes a CBDC can help is competition. A private FPS could inhibit competition, and most e-money systems are closed loop and could become monopolistic.

By contrast, the IMF believes that a CBDC can lower the barriers to entry for nonbank payment service providers, enhancing competition.

@ Newshounds News™

Source:  Ledger Insights

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RIPPLE NEWS: XRP HOLDERS RALLY AGAINST SEC APPEAL, THREATEN LAWSUIT!

▪️XRP holders are petitioning against the SEC's appeal in the Ripple case and considering legal action.

▪️Attorney Rispoli believes a lawsuit against the SEC is possible but challenging, citing the Madoff case as a precedent.

▪️Rispoli emphasizes the need for reforms within the SEC to address corruption and improve transparency.

As tensions rise in the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC), XRP holders are speaking out on social media platforms like X.

They have launched a petition titled “Stop the SEC’s Unnecessary and Frivolous Appeal in the Ripple v. SEC Case,” which has attracted nearly 5,000 signatures.

Can a Petition Against the SEC Succeed?
In a recent podcast episode with Thinking Crypto, attorney Fred Rispoli discussed the potential outcomes of the petition and whether individual investors could sue the SEC. When asked if a petition against the SEC could succeed, Rispoli responded positively but cautioned that winning such a case would be difficult.

He highlighted that John Deaton, who has gained support from 75,000 people, might consider filing a case against the SEC. However, Rispoli pointed out the challenge of proving that the SEC acted outside its legal authority.

“And there are certainly some arguments to make that happen, especially as the revolving door has become a little more grotesque and easily, more easily able to be discovered through civil discovery, for example. But that happened in the Madoff case, where everybody that got screwed by Madoff sued the SEC and they lost on the grounds that the SEC was immune and the opinion was scathing.

 The second circuit said the SEC was incompetent, imbecilic, and derelict in their duties, but they were just bad at their jobs. They didn’t go outside of the range where they could be liable, civilly liable for that.”

It’s Not Going to Be Easy!

While there is a chance for a lawsuit, Rispoli acknowledged the challenges involved. He expressed his strong support for Deaton, saying he would not want anybody else leading that charge other than Mister Deaton himself.

He also emphasized the need for broader reform within the SEC, calling for increased transparency and efforts to root out corruption beyond the current case.

@ Newshounds News™

Source:  Coinpedia

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HEDERA HBAR HOLDERS AN ETF MAY BE CLOSE - HUGE MOVES ARE HAPPENING  |  Youtube

@ Newshounds News™

~~~~~~~~

Unchartered Territory the Constitution Call  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

News, Rumors and Opinions Sunday AM 10-6-2024

Note From Dinar Recaps:

To our newest readers,

If you are new to the Dinar and Currency investment and wish to educate yourself further please go to Dinarrecaps .com . At the top of our blog page click on the categories button and go to The Dinar Recaps Archives or Post RV Categories for all our past posts on history of past RV’s, Exchange tips, Security and other valuable information.

We hope all of our dreams come true very soon.

Your Dinar Recaps Team

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 Sun. 6 Oct. 2024

Compiled Sun. 6 Oct. 2024 12:01 am EST by Judy Byington

Judy Note:

Sat 5 Oct. 2024 Major Alert: Bank of America has gone offline Worldwide. Zero balances in accounts. Withdraw all funds from your bank account now!

On 14 March 1900 123 years ago: The Gold Standard Act was an Act of the United States Congress, signed by President William McKinley and effective on March 14, 1900, defining the United States dollar by gold weight and requiring the United States Treasury to redeem, on demand and in gold coin only, paper currency the Act specified.

Global Currency Reset: (Opinions/Rumors)

Sat. 5 Oct. 2024 Wolverine: With the news that the Pentecostal group has finally released payments to their leaders it’s the start of the domino effect that soon others will start soon as well. The Precatorias should start by this week and hopefully the rest will follow. Please remain patient and believe this is happening. With the release of the Pentecostal group it’s a sign that this has started. Glory to God. God bless everyone of you. Your friend Wolverine

Sat. 5 Oct. 2024: IRAQI DINAR NEWS: WOW US Banks Now Accepting 25,000 IQD Note| DINAR NEWS 2024 | IRAQI DINAR NEW UPDATE – amg-news.com – American Media Group

Sat. 5 Oct. 2024: QFS NEWS: All Banks are Transitioning Over Into the QFS – Start Getting Hold of the ISO 20022 XLM and XRP – 8 Billion People Will Inevitably Transition to the QFS – amg-news.com – American Media Group

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Global Financial Crisis CHECKMATE!!! The Black Swan Event: A Financial Apocalypse with Stock Market and Bitcoin Collapse, Power Grid Blackout, and EBS-Triggered Quantum Energy Revolution

The looming Black Swan Event will trigger a financial apocalypse, devastating not only the stock market but also Bitcoin and other cryptocurrencies. This catastrophic collapse will reach far beyond the financial sector, pulling even the power grid into disarray. As the world teeters on the edge of this unprecedented disaster, the Emergency Broadcast System (EBS) will signal the turning point, ushering in the downfall of the controlling cabal and the start of a new era powered by quantum energy. Are you ready for the reset as the old world crumbles?

Financial Collapse: A Black Swan Event on the Horizon: A Black Swan event is often unforeseen and has far-reaching consequences, especially in finance. This time, however, the collapse won’t be limited to stock markets. It will engulf Bitcoin, cryptocurrencies, and potentially disrupt global infrastructures. The fallout could be devastating, triggering a sequence of events that leads to a worldwide blackout, a signal of the need for a total reset of the financial and energy systems as we know them.

The Stock Market’s Imminent Crash: The financial system, with its unsustainable levels of debt, excessive Federal Reserve intervention, and unchecked greed of Wall Street, is standing on the brink of collapse. This isn’t just another correction or market downturn-it’s a complete unraveling. Cryptocurrencies, once seen as safe havens, will be hit just as hard, if not harder. Their collapse will reverberate across markets, making previous financial crises look insignificant by comparison.

With the EBS heralding a new age, we may witness a shift from traditional energy sources like nuclear power to quantum energy, transforming how the world functions. The reset will not only mark the end of the financial order but also the start of a new system that promises to revolutionize the global power structure. Prepare for the end of one world and the beginning of another.

Read full post here:  https://dinarchronicles.com/2024/10/06/restored-republic-via-a-gcr-update-as-of-october-6-2024/

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

Militia Man  Everybody should be going, 'come on Iraq!  Come on World Bank!  Come on Bank of International Settlements, IMF, US Treasury, US Federal Reserve!'  All those players have been involved and they still are...They are not going to have a 1310 exchange rate.  They're going to move to a Real Effective Exchange Rate based on fundamentals based off their non-oil products, non-oil revenues that will exceed in may cases oil output.

Frank26  [Iraq boots-on-the-ground report] FIREFLY:
Mr. Sammy told me a real rate international for us  in his opinion is just north of $4.00.  FRANK:  Didn't we say that it would be somewhere between $3.86 up to $4.25? ...Of course it's only an opinion by Mr. Sammy and me but we both know Mr. Sammy's information has always been spot on...You are so close. 

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Can the Iraqi Dinar Help Resolve US Economics?

Edu Matrix:  10-6-2024

Can the Iraqi Dinar Help Resolve US Economics? Probably not. However, here's what it can do!

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