Warren Buffett: 14 Simplest Pieces of Money Advice That Can Work for Anyone

Warren Buffett: 14 Simplest Pieces of Money Advice That Can Work for Anyone

Ellie Diamond  Mon, October 7, 2024  GOBankingRates

Warren Buffett has a gift. He’s the 10th wealthiest person in the world and the largest shareholder of the famous Berkshire Hathaway, but he shares some of the most relatable money advice.

Buffett’s 60-plus-year career has left the personal finance world with some of its favorite quotes and most evergreen advice.

Start Small and Be Patient

“Someone’s sitting in the shade today because someone planted a tree a long time ago.”

Buffett didn’t start with millions to invest. He describes his early days as “working with a tiny, tiny amount of money,” when he would choose a promising small company and invest in its growth.

He believes this freedom to choose small companies makes small-scale investing powerful. More important: Anyone can follow this advice. Choose an affordable company you believe in, then wait for it to work its magic.

As Buffett said at the 2001 Berkshire Hathaway annual meeting, “I think if you’re working with a small amount of money, you can make very significant sums.”

Invest in Index Funds

“In my view, for most people, the best thing to do is own the S&P 500 index fund.”

If you’re looking for the simplest way to invest, Buffett recommends the index fund.

Index funds are investments that track the return of a market index, representing a particular section of the stock market. The Standard & Poor’s 500 Index is one such index.

The S&P 500 includes 500 companies in various top-performing industries. Its broad representation means you’re not tying your funds to a tiny slice of the economy. Buffett likes it for everyday investors because it’s a simple yet effective way to spread your money around.

Buy Bonds

“Put 10% of the cash in short-term government bonds.”

If you’re looking for investment strategies, why not do what Buffett does with his money? As Buffett told shareholders in 2013, he has instructed the administrator of his wife’s trust to split the funds 90/10: 90% in the S&P 500 and 10% in government bonds.

The U.S. government offers two types of bonds: treasury and savings. Treasury bonds cost a minimum of $100, while savings bonds cost $25 and up.

Understand Your Investments

“Risk comes from not knowing what you are doing.”

Knowledge is power when it comes to your money. You don’t need to know everything about the market or the industry you’re investing in. Most people would never be able to invest if that was a requirement.

You do need to understand the basics of how an investment works. You’ve already taken the first step by learning about index funds and bonds. If you have another investment interest, start researching it. You can always ask a financial advisor for help if you need it.

Don’t Follow the Crowd

“The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.”

Buffett has never made investment decisions by following trends. He made billions by finding companies he believed in and holding his shares in them for as long as it made sense.

If you understand the products in your portfolio and why they’re smart, you don’t need to follow investment trends.

Keep Cash Available

“When bills come due, only cash is legal tender. Don’t leave home without it.”

Buffett believes in his investments but knows the market can be volatile. In 2008, when its competitors were faltering, Berkshire thrived because it had plenty of access to cash.

That money was in cash equivalents, a short-term investment that you can cash in relatively quickly. Think of certificates of deposit and money market accounts, which you can open at most financial institutions.

One word of caution: CDs tend to charge fees if you withdraw early. There are always high-yield and traditional savings accounts if you need quick access.

TO READ MORE:  https://www.yahoo.com/finance/news/warren-buffett-14-simplest-pieces-230010894.html

Seeds of Wisdom RV and Economic Updates Tuesday Evening 10-8-24

Good Evening Dinar Recaps,

SOUTH KOREA PLANS TO REGULATE CROSS-BORDER STABLECOIN TRANSACTIONS

South Korea’s Financial Services Commission plans to consult with other jurisdictions, including Japan and the EU, on stablecoin rules.  

South Korea’s government plans to apply foreign exchange rules to cross-border transactions involving dollar-pegged stablecoins.

On Oct. 8, the country’s Ministry of Economy and Finance reportedly announced that it was reviewing measures to ensure the soundness of stablecoin transactions.

The government agency said that apart from being used to transact and exchange within the crypto ecosystem, stablecoins are also used in cross-border transactions. This means that stablecoin’s functions expand to global transfers, which may require different rules.

Consulting with other jurisdictions
Furthermore, the Financial Services Commission (FSS), South Korea’s top financial regulator, will prioritize and discuss stablecoins in the second legislative stage of the country’s Virtual Asset User Protection Act.

The FSS reportedly plans to consult with other regulators in international jurisdictions, including Japan and the European Union. Despite the statement, the government agency did not provide a specific consultation timeline.

Stablecoin regulations will also reportedly begin with a system for issuing won-pegged tokens. This means a legal system for stablecoins pegged to South Korea’s won fiat currency will first be established and then applied to foreign currency stablecoins.

The Japanese government issued rules on stablecoins after the Terra collapse in 2022. On June 3, 2022, Japan banned stablecoin issuance by non-banking institutions. However, it lifted the ban in 2023.

Meanwhile, the EU’s Markets in Crypto-Assets Regulation came into force in June, leading crypto exchanges to delist non-compliant stablecoins.

South Korea tightens crypto regulations
South Korea recently tightened its measures by enforcing laws to protect crypto users. On July 19, its Virtual Asset Protection Act came into effect, compelling virtual asset service providers (VASPs) in the country to maintain stricter rules to protect user assets.

The laws require VASPs to take out insurance against hacks and malicious attacks. They also mandate that providers keep user assets separate from exchange tokens while keeping customer deposits in banks. The law also includes regularly reviewing token listings on exchanges.

The South Korean government will also impose severe punishments on violators. This includes jail sentences and fines of three to five times the amount of illegally acquired profits.

@ Newshounds News™

Source:  CoinTelegraph

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CANARY CAPITAL FILES FOR A SPOT XRP EXCHANGE-TRADED FUND WITH THE SEC

▪️Canary Capital’s move comes after Bitwise filed its S-1 registration statement last week.
▪️Canary Capital founder Steven McClurg said the firm is seeing “encouraging signs of a more progressive regulatory environment coupled with growing demand.”

Crypto investment firm Canary Capital filed a registration statement with the U.S. Securities and Exchange Commission for a spot  XRP exchange-traded fund, marking the second firm vying for that product this month.

The Canary XRP ETF gives investors "the opportunity to access the market for XRP through a traditional brokerage account without the potential barriers to entry or risks involved with acquiring and holding XRP directly," the firm said in an S-1 registration statement filed on Tuesday. A custodian or administrator is not yet named for the ETF.

"We're seeing encouraging signs of a more progressive regulatory environment coupled with growing demand from investors for sophisticated access to cryptocurrencies beyond Bitcoin and Ethereum–specifically investors seeking access to enterprise-grade blockchain solutions and their native tokens such as XRP," said Canary Capital founder Steven McClurg in a statement.

McClurg also previously founded Valkyrie Funds, which has other spot crypto ETFs.

Canary Capital's move comes after Bitwise filed its S-1 registration statement last week. A spot XRP ETF has not been approved by the SEC before, and if it does, it could face challenges. The SEC has been embroiled in a legal fight with Ripple after the agency accused the company of raising $1.3 billion through the sale of XRP, which it views as an unregistered security.

@ Newshounds News™

Source:  The Block

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BRAZILIAN CBDC DREX ENVISIONED TO REPLACE CURRENT TRANSACTION SYSTEM

Fabio Araujo, the coordinator of Drex, the Brazilian CBDC, envisions this network substituting the current national transaction system and moving all the funds currently settled by the Reserve Transfer System. However, he stated that this would take some time, as the cost of this migration would be significant.

Drex Coordinator Envisions Total Substitution Of Traditional Transaction Systems for Blockchain
While the current central bank digital currencies (CBDC) are commonly considered a complement to fiat currencies and conventional electronic money, some countries are eyeing the total substitution of their systems for these tools. Fabio Araujo, coordinator of Drex, the Brazilian CBDC pilot, envisions this happening at one time in the country.

While Drex is in the second phase of its pilot, Araujo believes that the technology behind it might grow to substitute the Reserve Transfer System (STR).

According to the Central Bank, the STR is considered the backbone of the Brazilian financial system, handling the settlements of monetary, foreign exchange, and capital markets, among institutions that manage accounts with the bank.

Araujo stated:

All transactions would be made within this environment. As this technology advances, all business would be done within it.

However, Araujo acknowledged this process should not be immediate, as the migration from one technology to another includes significant costs for the institution.

“I hope it takes time, because migrating the internet to blockchain is costly,” he stressed. In 2023, STR settled the equivalent of the Brazilian gross domestic product (GDP) each 2.2 days.

While this migration would also highlight the need for new regulations to deal with the new system’s processes, Araujo recognized that at first, no regulation would be issued given that it would be a new technology applied to the existent environment.

At the same time, Araujo stated that this system would not have a direct connection with the real estate records, as the bank is not interested in taking over these operations. The Drex’s objectives would be to manage and ease financial settlements only.

@ Newshounds News™

Source:  Bitcoin News  

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BRAZIL TO REVIEW ELON MUSK’S X BAN AFTER $5M FINE PAYMENT

Social media platform X could soon be restored in Brazil after paying fines, appointing a new legal representative and blocking certain user accounts at the court’s request.

Brazilian authorities could soon lift the ban on Elon Musk’s social media platform X after the company paid 28.6 million Brazilian reais (approximately $5.5 million) in fines.

According to local media reports, on Oct. 7 X cleared the latest requirement on its path to returning online. In late August, Brazil’s Supreme Federal Court suspended X for failing to comply with orders related to an investigation into the spread of misinformation in the country.

The final payment was confirmed after a series of unusual events. On Oct. 4, the funds related to the penalties imposed by Justice Alexandre de Moraes for irregularities on the social network were mistakenly deposited into the wrong bank account. Last Monday, the proceeds paid by Musk’s satellite company, Starlink, were transferred to the correct account.

The amount included the original fine for X’s lack of cooperation in court investigations and an additional 10 million Brazilian reais (about $1.9 million) for not complying with the suspension after a shift to Cloudflare’s servers unintentionally allowed some users to access the platform in September.

In the previous days, X also appointed a new legal representative in the country, as required by local regulations, and blocked the accounts of users accused of spreading fake news and misinformation about Brazil’s electoral processes and justice system.

The platform’s return to users in the country now rests with Brazil’s Attorney General, who will recommend whether or not the suspension of X in Brazil should be lifted. If X return is approved, Justice Moraes will once again review the case and issue his decision.

Justice Moraes has been investigating X since 2023 for allegedly promoting and enabling the spread of misinformation in Brazil. Musk is also under investigation for charges including obstruction of justice, involvement in a criminal organization, and incitement to crime.

The billionaire has publicly criticized Moraes’ actions, labeling them politically motivated censorship. He has accused the judge of behaving like a “dictator” by targeting political opponents through what he claims are unlawful demands for content moderation.

@ Newshounds News™

Source:  CoinTelegraph

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@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Frank26, IQD Update and Andy Schectman 10-8-2024

KTFA

KTFA IQD Update and Andy Schectman

This video is in Frank’s and his team’s opinion only

Frank has stated he will no longer do public videos on the Iraqi dinar UNLESS it is Important, Prudent or Necessary.  

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE

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

Tuesday Evening News With MarkZ and Bob Lock

Tuesday Evening News With MarkZ and Bob Lock

MarkZ  Update- Some highlights by PDK-Not verbatim

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

Member: Good evening to all….prayers for everyone in the path of Hurricane Milton

Member: Hoping and praying for some good RV news tonight

MZ: “Iraqi Government issues new decisions”   This one is pretty deep and I have no doubt MilitiaMan will soon do a deep dive on it. Everything in this article that they have just done is screaming REER. (Real Effective Exchange Rate)

MZ: And that is what I am hearing from my folks at the Finance Ministry. They believe we are circling close to the rate change.

MZ: And the Export Import bank of the United states has approved $297 Million for an energy efficiency project in Iraq. This money would not be going to Iraq if it wasn’t going to be safe and stable….and if they could not pay those loans back. They are counting on an International Iraq with a real effect exchange rate.

Member: So exciting mark ! There has to be a rate change asap if this is all happening in Iraq !

MZ:  ”Parliamentary Legal confirms the progress on legislation on the recovery of proceeds of corruption law”  They are cleaning house

MZ: I am getting downright excites watching all the news from Iraq.

Member: Any news from bonds today Mark…..anyone got paid???

MZ: No bond news yet guys…I’m drawing blanks but hoping that means extremely good things.

Member: This 3 day weekend would be perfect LETS GO

Member: God's Blessings, Protection & Healing! So many people are in need, may we soon be able to help! Lord guide us to be shining examples of Your unconditional love! Amen in Jesus' name!!

Bob Lock joins the stream tonight. Please listen to the replay for his information and opinions

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

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

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

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

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

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

Youtube:     https://www.youtube.com/watch?v=Jqkj36fdt18

More News, Rumors and Opinions Tuesday PM 10-8-2024

KTFA:

Clare:  The Bank of Iraq extends working hours to complete money transfer transactions

10/8/2024  Baghdad - WAA

The Chairman of the Trade Bank of Iraq (TBI) directed, today, Tuesday, to extend working hours to complete money transfer transactions.

The bank's media spokesman, Aqeel Al-Shuwaili, told the Iraqi News Agency (INA): "The bank's director directed that the work of remittance employees and cashiers in all bank branches should start from 7:00 am until 3:00 pm in order to complete all transactions related to financial transfers."

He added: "Work will continue according to the above mechanism until the completion of the last transaction within the branch."    LINK

Clare:  EXIM Bank approves $297m for Energy Project in Iraq

10/8/2024  By John Lee.

The Export-Import Bank of the United States (EXIM) has approved a $297 million final commitment in support of an energy efficiency project in Iraq.

The project will increase the availability and reliability of electricity in Iraq by generating power through waste heat.

Florida-based Stellar Energy Americas, Inc. will provide engineering, procurement, construction and other services in support of this project.

This transaction is estimated to support 600 U.S. jobs across more than half a dozen states.  LINK

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Clare:  Governor of the Central Bank of Iraq chairs a meeting on bank lending

October 08, 2024

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, chaired the first meeting of the Supreme Executive Committee for the National Strategy for Bank Lending in Iraq, formed by virtue of Diwani Order No. 51 of 2024, in the presence of the Undersecretaries of Ministries, Organizations and Concerned Authorities.

During the meeting, the importance of the role of the banking sector, government and private institutions was discussed, and their role in implementing this strategy and implementing the main axes and sub-objectives of the National Strategy for Bank Lending was defined.

His Excellency the Governor stressed that the National Strategy for Bank Lending aims to stimulate and stimulate the Iraqi economy, in addition to achieving growth in all areas, which this strategy will contribute to through the establishment and expansion of small, medium and large enterprises, stressing the importance of cooperation of the relevant authorities in the success of this task, which is a priority at the national level in providing job opportunities for young people and investing their energies and capabilities in a way that achieves economic growth in the economic sectors.

It is noteworthy that the Central Bank of Iraq launched on May 25, 2024, the National Strategy for Bank Lending in Iraq for the years 2024-2029, in the presence of a number of officials and representatives of diplomatic missions and international organizations. The axes of what was included in the strategy and the mechanisms for working on it were determined, each according to his specialization.

Central Bank of Iraq
Media Office
October 8, 2024

https://cbi.iq/news/view/2685

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

Walkingstick   [Aki Iraqi bank manager friend in U.S update] I have just been given my latest orders.  I am being told to stay close to home.  I will not be able to go to Thanksgiving...Christmas with my friends.  My orders tell me that I am to stay here in Dearborn.  The CBI bank is going to make us very busy during these holidays.  We are having a lot of Iraqi citizens coming into our banks here...They...are talking to us about the same thing you are asking us.  They found out they're going to get their HCL.  They found out about the cards.  They want to know how they're going to get their retirement money outside of Iraq.  They also what to know if they will also be able to receive the new lower notes.

SkyWalker  Removing or as Dr. Shabibi said cutting zeros, IMO is not a lop. Many are confused on what deleting zeros means. How did the inflationary zeros get on the dinar we hold?   The Saddam Swiss dinar was collected and swapped for the new dinar...Deleting the zeros is simply repeating the process by collecting three zero notes back to the banks and swapping them with lower notes.

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

Soft Landing VS Economic Crash Which is More Likely?

Taylor Kenny:  10-8-2024

Is a soft landing really possible? Learn why the current economic situation may be headed for a crash, not a smooth recovery. Discover the risks tied to high debt, inflation, and Federal Reserve policies, and what you can do to protect your financial future.

CHAPTERS:

 00:00 - Soft Landing

 00:38 - Why This Time Won’t Be Different

01:46 - Fed Rate Cuts and Lagging Indicators

03:17 - Soft Landing: Historical Optimism vs Reality

 05:04 - High-Yield Savings and CDs at Risk

06:41 - Rising Inflation and Unemployment

07:50 - Why Soft Landings Are So Difficult

09:03 - How to Protect Your Wealth

https://www.youtube.com/watch?v=hrY0o-zG_KM

Iraq News Highlights and Points To Ponder Tuesday Afternoon 10-8-24

What Are The Reasons For The Rise In The Dollar Price In Iraq? A Specialist Answers

Economy  | 03:45 - 07/10/2024  Mawazine News - Baghdad   The researcher and specialist in the financial and banking sector, Mustafa Hantoush, identified the reasons for the rise in the dollar exchange rate in Iraq, indicating that the parallel market in the country needs an in-depth study to dismantle the reasons for its instability.

In an interview followed by /Mawazine News/, Hantoush said that “the existence of huge trade with Iran and Syria, in addition to large numbers of travelers to these two countries, with the presence of small traders who do not own companies or import licenses, are all factors that are not covered by the official currency auction, which leads to fluctuations in exchange rates.”

He added that “fear of the outbreak of wars in the region prompts traders and citizens to exaggerate the quantities imported and consumed, and prompts some to save the dollar, which directly affects the price of the currency in the local market.”

Hantoush confirmed that “Iraqi supply chains from countries such as Turkey, Canada, Australia, China and India do not face any problems, and there are no concerns about the liquidity of the dollar in Iraq, so the crisis raised by traders and citizens is unjustified.”

The exchange rate of the dinar against the dollar jumped on the black market to 154,500 dinars per 100 dollars.   https://www.mawazin.net/Details.aspx?jimare=255712

What Is The Relationship Between Regional Tension And The Rise Of The Dollar In Iraq?

Posted on 2024-10-08 by sotaliraq  2024-10-07   Baghdad   The Iraqi market witnessed a noticeable rise in the exchange rate of the dollar against the dinar, until it exceeded 155 thousand dinars for every 100 dollars, coinciding with the intensification of the war in Lebanon, and the growing expectations of an Israeli strike against Iraq or Iran.

Observers attributed this rise to several reasons, the first of which is the state of panic among citizens from the outbreak of a comprehensive war, which prompted them to store the dollar, in addition to the increased demand for it by Iran and armed factions, in anticipation of what is coming.

Economic expert Nabil Al-Tamimi said in an interview with “Al-Alam Al-Jadeed” that “the dollar exchange rate crisis is temporary, and it is not economic. There is no defect or crisis within the Central Bank of Iraq. Rather, its cause is due to the existence of fears among citizens, which made them store the dollar, in addition to the media hype and the state of panic regarding the events of the war in Lebanon.”

Al-Tamimi added, “The talk about Iraq entering a state of war with Israel and the possibility of targeting Iraqi sites and facilities has led to citizens’ lack of confidence in the dinar or in banking transactions, and this is the main reason for the dollar crisis. In this case, the crisis is temporary and not ongoing, and the market needs confidence from the government to return prices to their previous state.”

The price of the dollar rose in the Iraqi markets to 155,750 dinars for every 100 dollars, according to today's price, Monday, after it began to rise to more than 150,000 dinars, following the assassination of Hezbollah Secretary-General Hassan Nasrallah in an Israeli strike in Lebanon. This rise came after the exchange rate had been stable at 148,000 dinars for every 100 dollars.

The region is witnessing great tension, as Iran bombed Israeli military bases near Tel Aviv, during a large-scale missile attack, in response to the assassination of the former head of the political bureau of Hamas, in addition to the Secretary-General of Hezbollah, Hassan Nasrallah.

Since last week, Israel has intensified its attacks on Lebanon, especially the southern suburb, destroying most of the infrastructure and buildings, amid expectations of an Israeli response to Iran, as well as an Israeli response to Iraq, after it announced that two Israeli soldiers were killed by a drone launched from Iraq.

For his part, financial expert Abdul Rahman Al-Mashhadani explained, during an interview with “Al-Alam Al-Jadeed”, that “the current rise in the dollar exchange rate is not economic, as the dollar was stable for a long time, and the Central Bank was selling in large quantities that covered the volume of Iraqi trade, reaching 270 million dollars per day.”

Al-Mashhadani continues, “The political situation and the crisis that threatens the outbreak of war and its expansion, including Iraq and Iran, and the reactions towards the countries that support Israel, are the main reason behind the rise in the price of the dollar.”

He confirms that “there are two reasons behind the increase, the first is that a large number of traders have obligations with suppliers outside Iraq, and when the economic and security situation deteriorates, the obligations remain on them, and they try to fulfill their obligations as soon as possible, because the trade process is linked to the reputation of the trader, so he wants to pay it, and tries to obtain the dollar in an unofficial way.”

The other reason is due to the fears among citizens, who, with the intensification of the crisis and daily news about the worsening situation, want to keep their dollar reserves in anticipation of travel or any emergency,” the financial expert added, “

Also, due to the current security crisis, there is no trust in banking transactions, and citizens want to store dollars in their homes or with them personally, and there are 50 billion dollars stored inside the country, because there is a fear of banking transactions, as a result of fear of economic sanctions that may be imposed on certain banks or the deterioration of events, and thus the collapse of banks, as happened in Lebanon.”

For months, Iraqi factions have been launching missile and drone attacks on Israel in support of the Palestinian resistance in the Gaza Strip, but the escalation began to intensify since the Lebanese Hezbollah entered into the mutual shelling with Israel until the escalation reached its peak with the assassination of Nasrallah.

Last week, Asharq Al-Awsat newspaper quoted informed sources as saying that Tel Aviv had identified 35 targets inside Iraq that could be struck at any moment, including targeting prominent political leaders and faction leaders, similar to what happened in Lebanon.

At the same time, it indicated that Prime Minister Mohammed al-Sudani had asked prominent Shiite figures to mediate to rein in the factions and prevent Iraq from being dragged into the war between Lebanon and Israel.

In addition, economic expert Jawad Malekshahi stated, during an interview with “Al-Alam Al-Jadeed”, that “since Mohammed Shia Al-Sudani assumed the position of Prime Minister until today, the crisis has continued, and it is being manipulated by suspicious hands linked to regional agendas.”

[size=45]He points out that “the main problem at the present time behind the crisis is Iran’s need for hard currency, and the more Iran needs hard currency as a result of the siege imposed on it, the more dollars are accumulated in the Iraqi market to save the Iranian economy, which causes a shortage in the Iraqi market and an increase in the price against the dinar.”

He explains that “this scarcity benefits the parties linked to the Iranian axis from two sides: on the one hand, supporting the Iranian economy and preventing its collapse, and on the other hand, using it as a pressure card against Al-Sudani’s government to remain under the control of Iran and the political forces loyal to it in the government and the House of Representatives, so that it does not rebel against Tehran’s instructions.”

The expert added, “The main reason for the current rise is due to Iran and the armed factions’ need for the dollar, due to the crisis in Lebanon, and also to finance themselves, as well as due to their fears of the ongoing targeting.”

Al-Alam Al-Jadeed was one of the first newspapers to reveal that currency smuggling was continuing, despite controls on banks, and was being carried out via bags transported overland to Turkey and Iran, after the dollar was withdrawn from the local market and not through the official dollar selling window. Specialists at the time called it “black transfers.”   LINK

The Fate Of The Three-Year Budget Is Unclear: Most Of The Allocations Have Not Been Spent And Parliament Awaits The Arrival Of The 2025 Schedules

Posted on 2024-10-08 by sotaliraq  The House of Representatives is waiting for the government to receive the 2025 budget, and despite the general trend to pass it easily and not amend it significantly, as happened with the current year’s budget, the Finance Committee revealed that the two previous budgets, especially the investment budget, have not been fully disbursed yet, which is expected to happen with next year’s budget as well, for several reasons, most notably the lack of financial liquidity, according to representatives and experts.

Member of the Parliamentary Finance Committee, Jamal Kojer, says, “The Iraqi government has not disbursed the financial allocations for the investment budget for the year 2023 or 2024, until now, due to the lack of financial liquidity, the suspension of some projects due to the provincial council elections, and other reasons.”

Koger added, “The Parliamentary Finance Committee is waiting for the arrival of the 2025 budget tables in order to review them and know the details of those tables and the expenditures in them.

They will be studied well by the committee before voting on them, and we will certainly have the authority to amend those tables, through additions and deletions without any new financial additions.”

He added, “There is no specific time for the government to send the budget tables to the House of Representatives. They may reach us during the next month, and we will follow up on this with the responsible authorities in the Ministry of Finance and the Council of Ministers, to expedite sending the tables for voting on them before the end of the current year.”

It is noteworthy that the Parliamentary Finance Committee revealed that it will discuss the 2025 budget next November, while stressing that employees’ salaries are fully secured.

It is noteworthy that the budget for the current year has not been implemented nor has its funds been spent yet, despite warnings from specialists about the loss of confidence in the government’s ability to manage finances, causing economic, investment and political confusion as well.

In mid-July, the issue of forgery or manipulation of the 2024 budget tables was raised between the House of Representatives and the Prime Minister’s Office, which sparked controversy and conflict in data and correspondence between the two parties.

The story began when the Finance Committee said that some members of the Council had manipulated the budget tables after they were approved, and then sent to the Council of Ministers, indicating that investigations had begun into the issue.

For his part, financial expert Ahmed Al-Tamimi says, “Iraq is suffering from a loss of financial liquidity, and therefore it was unable to implement all of the 2023 and 2024 budgets, and we do not believe that it will be able to implement all of the paragraphs and schedules of the 2025 budget.”

Al-Tamimi believes that “Iraq was facing a real financial crisis due to the decline in oil prices, and it was going to face a crisis even in the issue of paying employees’ salaries during the new year, but the repercussions of the recent Lebanon war led to a rise in global oil prices, and this achieved economic and financial benefits for Iraq, as it relies on financing its general budget from oil sales.”

He does not expect “a fundamental change in the 2025 budget schedules, compared to the previous ones,” expecting “it to be passed by parliament easily, especially since the majority within parliament supports and backs the government, and is working to pass its plans without obstacles or opposition.”

Member of the Parliamentary Finance Committee, Moeen Al-Kazemi, had indicated that the 2024 budget tables came from the government with a spending volume of 211 trillion dinars, and came out of Parliament with a volume of 226 trillion dinars, noting that the change came in the following paragraphs:

increasing the amount of the ration card by five trillion dinars, increasing oil revenues by five trillion dinars, reducing fees by five trillion dinars, and financial increases for the Ministry of Electricity and some governorates, as these increases mean increasing the budget deficit from 64 to 79 trillion dinars.

On June 12, 2023, the House of Representatives voted on the Federal Budget Law for the years 2023, 2024 and 2025, in an initiative that is the first of its kind in the country’s history in terms of the size of the budget as well as the number of fiscal years, with a value of 197 trillion and 828 billion dinars, with a financial deficit of 63 trillion dinars, or nearly a third of the budget.

In addition, Member of Parliament Mukhtar Al-Moussawi explains that “Parliament and political forces in general do not know anything about the 2025 budget schedules, and they are waiting for it to arrive from the Council of Ministers, and there is no specific time for this arrival, and perhaps it will arrive at the end of next month or more than that.”

Al-Moussawi points out that “the Iraqi government has a financial surplus from the 2023 budget, as well as the year 2024, due to the oil prices fixed in the budget, which are less than the real price of selling oil. There is also a lot of money that the government has not spent on projects and other things, which confirms that there is no financial crisis, as some are trying to promote.”

He stressed that “amending the 2025 budget, which is expected to reach the House of Representatives during the coming period, is unlikely, as there is parliamentary confidence in the government’s financial and monetary policy plans, and therefore it will be passed without any obstacles or disagreements, as happened during the passing of the 2024 budget schedules.”  LINK

Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 10-8-24

Good Afternoon Dinar Recaps,

CRYPTO.COM FILES SUIT AGAINST SEC AFTER GETTING WELLS NOTICE

▪️Firm warned about operating as an unregistered broker-dealer
▪️Notice is the latest in a string of enforcement actions

Crypto.com filed a lawsuit against the US Securities and Exchange Commission after receiving a Wells Notice indicating the regulator’s intention to sue the digital-asset exchange for operating as an unregistered broker-dealer and securities clearing agency. 

The lawsuit contends that the regulator has “unilaterally expanded its jurisdiction beyond statutory limits and separately that the SEC has established an unlawful rule that trades in nearly all crypto assets are securities transactions no matter how they are sold,” according to a statement Tuesday.

The SEC does not comment on the existence or nonexistence of a possible investigation, an agency spokesperson said.

The notice represents the latest in a string of enforcement actions brought by the SEC against the crypto industry in recent years. Companies including Kraken, Coinbase, Consensys and Uniswap have all been targets of such notices or lawsuits in the past, with some still engaged in legal proceedings.

“The SEC’s unauthorized overreach and unlawful rulemaking regarding crypto must stop,” Crypto.com Chief Executive Officer Kris Marszalek wrote on social media platform X.

Crypto.com, which is formally named Foris DAX Inc., declined to comment further on the lawsuit. Crypto.com was founded in 2016 in Hong Kong and rebranded to Crypto.com in 2018 after a purchase of the domain. Marszalek said in an interview with Bloomberg earlier this year that its platform has more than 80 million registered users.  CRYPTO.COM 

The lawsuit seeks to prevent the SEC from “unlawfully expanding its jurisdiction to cover secondary-market sales of certain network tokens sold on Crypto.com’s platform.” CRO, Crypto.com’s token, fell 7.6%, according to data from tracker CoinGecko.

The firm’s Crypto.com Derivatives North America unit also filed a petition with the Commodities Futures Trading Commission and SEC seeking to confirm by joint interpretation that certain crypto derivative products are solely regulated by the CFTC.

“It’s not surprising to see many crypto businesses turning the tables and preemptively suing the SEC,” Michael Selig, partner at Willkie Farr & Gallagher LLP, wrote on X, commenting on Crypto.com’s lawsuit.

@ Newshounds News™

Source:  Bloomberg

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IN AN EU FIRST, TOKENIZATION FIRM MIDAS OPENS MTBILL AND MBASIS TOKENS TO RETAIL TRADERS

▪️Midas’ onchain mTBILL and mBASIS tokens will be the first such real-world asset trading vehicles available to non-accredited investors.

▪️The tokenization firm received regulatory approval from Liechtenstein’s Financial Market Authority to open these funds to retail traders.

Tokenization protocol Midas is launching what it calls the “first suite of internet-native investment products” after opening access to its onchain mTBILL and mBASIS tokens to non-accredited investors.

In short, this makes Midas’ real-world asset (RWA) tokens the only regulated crypto vehicles in Europe not subject to a minimum investment of $100,000.

“After a year-long process involving audits, a registration and notification with various European regulations, we received approval for our product offerings,” Midas co-founder Dennis Dinkelmeyer told The Block in an interview. “Today, these are the only regulatory-compliant stablecoin yield products for retail investors across Europe.”

Midas, a startup that raised $8.75 million in a round led by Framework Ventures, BlockTower and HV Capital earlier this year, runs two tokenization projects: 1.  involving U.S. Treasury bills (i.e. mTBILL) and  2.  a yield-bearing carry trade (mBASIS). Both received regulatory approval from Liechtenstein's Financial Market Authority.

The tokenization space, projected to grow into a multi-trillion dollar industry in the coming years, is currently dominated by products offering exposure to U.S. government debt. Some $2.3 billion worth of onchain T-bills has been issued to date.

Dinkelmeyer says the startup works directly with BlackRock on its mTBILL product, which has so far attracted $5 million in deposits and currently yields around 5%. The vehicle uses BlackRock’s BUIDL fund as collateral but only supports stablecoins like USDC for issuance and redemption today.

“BlackRock itself is limited to institutional investors with a min of $5 million in assets. We can target retail with our regulatory approval,” Dinkelmeyer said. “In essence, we've just digitized the same old barriers that exist in traditional finance which defeat the point of tokenization.”

The same is true for Midas’ mBASIS token, which deploys an actively managed, market-neutral trading strategy using bitcoin, ether and “top altcoins” called a basis trade. Also called a carry trade, as seen in Ethena's USDe "synthetic dollar," the strategy capitalizes on the arbitrage opportunity that opens up when futures prices exceed spot prices.

@ Newshounds News™

Source:  The Block

~~~~~~~~~

XSGD, SINGAPORE’S FIRST DOLLAR-BACKED STABLECOIN, LAUNCHES ON BITSTAMP TO POWER GLOBAL CROSS-BORDER PAYMENTS

▪️Bitstamp has listed a Singapore Dollar-pegged stablecoin, XSGD, for the first time
▪️The partnership between StraitsX and Bitstamp means users can now seamlessly send and receive the SGD-backed stablecoin across borders with confidence

StraitsX, the pioneering payments infrastructure for the digital assets space in Southeast Asia, has today announced the listing of XSGD, its Singapore dollar-pegged stablecoin, on Bitstamp, the world’s longest-running cryptocurrency exchange.

This strategic partnership marks a significant step forward in enabling the mass adoption of XSGD across global markets, and sets a new benchmark for stable, efficient, and secure digital currency transactions. XSGD, backed 1:1 to the Singapore dollar (SGD) and fully backed by reserve assets, offers unparalleled transparency and stability for users in global markets.

Unlocking Global Cross-Border Payment Flows
Stablecoins like XSGD are rapidly emerging as the preferred solution for on-chain cross-border payments, providing a secure and efficient alternative to traditional financial systems.

With the listing of XSGD on Bitstamp, users can now seamlessly send and receive SGD-backed stablecoins across borders with confidence. This development addresses the demand for faster, more cost-effective global transactions, reducing the complexities of conventional financial systems.

XSGD will drive digital asset adoption and accelerate innovation in cross-border payments.

XSGD will be available via Bitstamp globally, except in US and EU countries.

“The listing of XSGD on Bitstamp is a pivotal moment in our mission to bring StraitsX’s stablecoins to the global stage. By improving liquidity and accessibility, we are enabling faster, more transparent, efficient, and cost-effective on-chain cross-border payment flows. This will transform how individuals and businesses transact internationally, unlocking new opportunities for financial inclusion and global trade,” said Jason Tay, Head of Commercial at StraitsX.

“We are excited to list XSGD, a stablecoin with immense utility across the APAC region, to our Bitstamp platform. As demand for stable, reliable digital assets continues to grow, the addition of XSGD enhances our platform’s liquidity and provides our global users with a trusted SGD-backed asset.

This further supports the widespread adoption of stablecoins for cross-border payments and other financial transactions worldwide,” said Leonard Hoh, General Manager for APAC at Bitstamp.

Driving Adoption of Stablecoins
The listing of XSGD on Bitstamp highlights StraitsX’s commitment to advancing the digital assets and payments landscape across Southeast Asia and beyond. By combining the speed, transparency, and decentralisation of digital assets with the stability of a fiat-backed asset, XSGD is positioned to drive mass adoption. This trusted and secure stablecoin offers users a reliable solution for global cross-border payments, making it a pivotal tool for the future of digital transactions.

About StraitsX
StraitsX is the pioneering payments infrastructure for the digital assets space in Southeast Asia. StraitsX is a Major Payment Institution licensed by the Monetary Authority of Singapore and offers personal and business account holders to mint and redeem StraitsX stablecoins, manage payments as well as connect their accounts to digital asset platforms. Business accounts can also access B2B API-enabled payment rails for digital asset platforms.

About Bitstamp
Bitstamp is the world’s longest-standing cryptocurrency exchange, continuously providing safe and open access to crypto since 2011.  Bitstamp provides a secure and transparent trading venue to over five million individuals and is the preferred choice for a range of institutional clients seeking a trusted partner to participate in crypto markets. Bitstamp is a sector leader in both security and compliance.

@ Newshounds News™

Source:  Crypto News Flash   

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🌍 TRUMP VS HARRIS: WHAT’S AT STAKE FOR CRYPTO’S FUTURE?  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

 ~~~~~~~~~

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Some “BRICS New’s” Tuesday 10-8-2024

BRICS Announces 2025 Plans! What Happens to US Dollar Now?

GeoFlux:  10-7-2024

BRICS nations have announced ambitious plans for 2025, potentially reshaping the global financial landscape. Saudi Arabia's joining BRICS and allowing its dollar-oil agreement to expire marks a significant shift.

Russia's chairmanship is pushing for increased use of national currencies in trade settlements. The BRICS Bridge payment system aims to rival SWIFT, while member countries are developing their own alternatives.

Digital currencies, including CBDCs, are gaining traction. These moves could challenge the US dollar's dominance, potentially weakening its role in global trade and sanctions.

Geopolitical implications are vast, with BRICS positioning itself as an alternative to Western-led financial institutions. The expansion impacts global commodity markets, given BRICS+ countries' resource wealth.

 However, challenges remain, including maintaining BRICS unity and overcoming technical hurdles. The future likely holds a more diversified monetary landscape, affecting international trade, investments, and everyday financial transactions. While the dollar won't disappear, its supremacy may gradually erode.

https://www.youtube.com/watch?v=62JiKpZRZmM

Saudi Arabia to Adopt Petroyuan for Oil Settlements, Ditch Petrodollar?

Geopolitical Analyst:  10-8-2024

In recent months, the geopolitical landscape has witnessed tremendous shifts, particularly surrounding the BRICS bloc—comprising Brazil, Russia, India, China, and South Africa. As these nations continue their pursuit of de-dollarization, particularly in terms of global trade, one prominent player is considering a significant pivot: Saudi Arabia. With the Kingdom reportedly contemplating the adoption of the petroyuan for oil settlements, the world is poised to watch how this potential transition could reshape global economic dynamics.

For decades, the petrodollar system, which mandates that crude oil sales be conducted solely in U.S. dollars, has granted the United States considerable influence over global economic policies. This system has promoted the dollar’s status as the world’s primary reserve currency, allowing the U.S. to maintain an upper hand in international finance. However, evolving global dynamics beckon a reconsideration of this long-standing structure.

The BRICS bloc, in particular, has aggressively pursued de-dollarization, encouraging member nations and global partners to transition to using their own currencies for trade. This move challenges the U.S. dollar’s supremacy and aims to foster greater economic sovereignty for BRICS countries amidst a world increasingly wary of U.S. economic policies.

Saudi Arabia’s relationship with the BRICS bloc has been anything but straightforward. Earlier this year, despite being invited to join the 2023 BRICS expansion, the Kingdom held back from full membership. Instead, it appears to be adopting a more cautious approach while simultaneously navigating its longstanding ties with Western powers, particularly the United States.

However, recent statements from Saudi Arabia’s Minister of Industry underscore a readiness to explore new avenues of collaboration, particularly with China. The Minister noted, “We are open to trying new things,” which hints at the Kingdom’s willingness to adapt to the changing tides of international trade and finance. This sentiment aligns with rising discussions regarding the potential of using the Chinese yuan for oil settlements—a mechanism colloquially termed the “petroyuan.”

As Saudi Arabia contemplates the future of its oil settlements, the global economic order stands at a crucial crossroads. The potential shift toward the petroyuan—while still uncertain—reflects a growing trend among BRICS nations to redefine their financial relationships in a rapidly evolving world. As Riyadh continues to navigate its intricate roles of tradition and modernization, its decisions will not only impact its coffers but also pose significant questions for the future coherence of international economic structures and the longstanding dominance of the U.S. dollar.

The global economic community will be watching closely, not just for Saudi Arabia’s next move, but also for the ripples it could send through the current monetary system. Will we witness the dawn of a new era, or will the petrodollar continue to reign supreme? Only time will tell.

Watch the video below from Geopolitical Analyst for more information.

https://youtu.be/Dd9wpxr_26g

“Tidbits From TNT” Tuesday 10-8-2024

TNT:

Tishwash:  Ranked 29th out of 100 countries, Iraq raises its gold holdings to more than 152 tons

The World Gold Council announced on Tuesday that Iraq has increased its gold holdings to more than 152 tons.

According to the latest table published by the Council in September 2024, which Shafak News Agency reviewed, "Iraq ranked 29th out of 100 countries listed in the table with the largest gold reserves," indicating that "Iraq ranked third in the Arab world after Saudi Arabia and Lebanon."

He added, "Iraq increased its gold holdings to 152.6 tons, after its gold holdings were 148.3 tons, which represents 11% of its remaining reserves."

The Council also pointed out that "the United States of America is the largest country in the world with the largest gold holdings, at 8,133.5 thousand tons, followed by Germany with 3,351.5 thousand tons, then Italy with 2,814 thousand tons, while Bosnia and Herzegovina came in last with 1.5 tons."

The World Gold Council is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world.  link

Tishwash:  Ministry of Oil announces the start of exporting jet fuel

The Undersecretary of the Ministry of Oil for Refining Affairs, Hamid Younis, announced the start of aviation fuel export operations from Iraqi ports.

The Undersecretary said in a statement, "The ministry has started aviation fuel export operations at a rate of (800-1000) tons per day, from export outlets, noting that the Iraqi production of aviation fuel comes within international specifications and standards.

He pointed out that the export process is a step in the right direction, to enhance Iraq's role globally among the countries producing and exporting oil and its derivatives, in addition to that it reflects the prospects for development in the Iraqi oil industry.

He added that the export operations of oil products contribute to increasing the financial revenues achieved from the activities of the oil sector, thus supporting the national economy.  link

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

Tishwash: Revealing the features of the 2025 budget tables

A government advisor revealed the features of the 2025 financial budget schedules.

 The financial advisor to the Prime Minister, Mazhar Muhammad Salih, said in a press statement that "Article 77/Second of the Federal General Budget Law No. 13 of 2023, which regulates the preparation of the three-year budget, stipulates that the government shall send the budget tables for the years 2024 and 2025 to the House of Representatives for approval before the end of the previous fiscal year."

He added that "the Ministry of Finance has announced that it is in the process of preparing the general budget tables for the year 2025, in accordance with the constitutional mechanisms adopted by the aforementioned Three-Year Budget Law."

He pointed out that "based on the indicators of budget implementation over the first two years provided for by the aforementioned Law No. 13, the financial authority has the necessary administrative and financial capabilities to submit the 2025 budget tables to take their legislative path through discussion and approval in the Council of Ministers and refer them to the House of Representatives before the end of this year."

Saleh noted that "the federal general budget tables for the year 2025 will be based on the constants of Federal Budget Law No. 13 of 2024, taking into account international and regional economic conditions and their changes, ensuring that the provisions of the budget tables for the year 2025 are adapted within the available legal texts, in addition to relying on the performance of the indicators of the general budget tables for the year 2024."

He stressed that "major reconstruction projects will continue to progress in accordance with the vision of the government program to ensure the continuity of growth rates in the gross domestic product in general and the gross domestic product (non-oil) in particular."  link

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

Tishash:  Federal Finance sends Kurdistan Region salaries for September, parliamentarian confirms arrival

An informed source reported on Tuesday that the Iraqi Federal Ministry of Finance will transfer the salaries due for the month of September to the employees of the Kurdistan Region from Baghdad within the next three days, indicating that they will be disbursed immediately upon arrival of the amount.

According to information obtained by Shafaq News Agency, the Financial Supervision Bureau and the Ministry of Finance in Iraq have completed the process of auditing the payrolls of Kurdistan Region employees for the month of September, and the remaining amount is expected to be transferred during this week.

The source stated that after the government in the Kurdistan Region receives the financial amounts from Baghdad, it will, in turn, in cooperation with the region’s internal revenues, begin distributing employees’ salaries.

Meanwhile, the member of the Iraqi parliament for Sulaymaniyah province, Karwan Mirwais, stated on his official Facebook page that the Iraqi Ministry of Finance had transferred an amount estimated at one trillion dinars to the Ministry of Finance of the Kurdistan Region.

According to Mirwais, this amount is allocated to pay the salaries of civil, military and security employees for the month of September.

The salary file in the Kurdistan Region is witnessing continuous tensions due to the delay in sending financial dues from Baghdad, which leads to the postponement of the distribution of salaries to employees.

Previous agreements have been reached between the Kurdistan Regional Government and the federal government to ensure the continuation of salaries, but delays in sending dues remain a constant source of concern for employees in the region.  link

Mot:  . Rivalry at its Bestest!!! 

Mot: ... YaKnows -She Just Might Have a Good Idea!!! 

“Coffee With MarkZ” Tuesday Morning Chat 10-8-2024

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

MarkZ  Update- Some highlights by PDK-Not verbatim

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

Member: Good Tuesday morning fam!!

Member: Let us hope we get some definitive news on bond payments today!!! We are close to our blessing. Have faith!!!

Member: Our group is hearing really good things that we have never heard before. Time to put on our humanitarian hats.

MZ: We are hearing such good stuff…..just need to cross the finish line.

Member: Mark last night you were very excited about morning news. Can you throw us a bone please?

MZ: No bone to throw just yet…….I was excited about today’s possible news starting this afternoon into the evening. A number of bond folks are expecting their funds today…..They have been expecting them since last week and were told they would be paid on Tuesday (today)..…watching this afternoon and evening.

MZ: We are praying somebody will admit to having fully spendable money….and not just go NDA on us and go quiet. .

Member: If they sign an NDA they would be foolish to admit anything that would break the NDA.

Member: When/if the historic bonds get paid then what are we looking at as far as our timeline?

Member: Soon…..I really hate that word

MZ: All eyes (for me and many others) are on the Historic bonds…..Specifically German Bonds today….

MZ: there is also a lot of chatter amidst the groups…..they are being asked if their humanitarian stuff is up to date. But this is just chatter until somebody gets paid

MZ: While watching Historic bonds….we are trying to get updates from CMKX contacts….and a omega contact to see if anything is moving today. 

MZ: From Iraq: “Iraq begins exporting Jet Fuel” they are bringing a refinery online that has been modernized. This is huge for Iraq…..and the economic boost for Iraq is enormous .

MZ: “Salaries next week: Baghdad sends 29 Billion dinars to Erbil : The latter indicates a shortage of this amount”   They are moving and salaries are being paid…..months worth of salaries…. “Iraqi banks are extending working hours to complete those remittances”

Member: Mark, shouldn’t the rate needs to be out if they’re paying salaries next week?

MZ: Many of us believe they stalled on those salary payouts waiting for a value change. I have a contact in the Finance Ministry who believes that as well……Now they are paying them

MZ: “Al Alaq: Bank lending strategy aims to stimulate the economy” This is part of the monetary reforms. We are watching them do the reforms. We are watching the deletion of the zeros and the raising of the values…..

MZ: “Uncover the features of the 2025 budget schedules” They are hard at work right now letting us know they are working…We are looking for a new value as they do this.

Member: IMO the economy needs to crash before anything happens.

MZ: That is happening right now.

MZ: The Dow was down considerable in the futures this morning….until Hong Kong imploded. Regardless of the massive amount of stimulus that was thrown at them the last couple of weeks out of china….Hong Kong’s stock market plunges.

MZ: The initial belief was that money would come pouring into the US stock market…but the futures suddenly pivoted after the bloodbath in Hong Kong today….It is going to be an interesting day. Does the word panic?  

MZ: “Hong Kong Plunges the most since Lehman Brothers” We are watching the implosion right now in real time.

Member: Mark so do you still believe we will still exchange before the holidays?

Member: I think after the elections……this may happen……hopeful before the holidays.

Member: Thinking of all those having to leave their homes right now before the new hurricane hits….. Be safe everyone.

Member: Please continue prayers for NC & the rest of the states affected by Helene

Member: Blessings to all of the fabulous MODS that are helping Mark keep this community informed and focused on the prize. You are a blessing !!!!

MZ: Bob Lock is supposed to join us this evening. I am sure he will take some questions.

Member: Everyone have great positive day today…..The best is yet to come.

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

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

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

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

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

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

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

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Seeds of Wisdom RV and Economic Updates Tuesday Morning 10-8-24

Good Morning Dinar Recaps,

IOTA NEWS: COULD IOTA BE THE NEXT BIG PLAYER IN THE STABLECOIN ARENA?

▪️IOTA’s decentralized technology could serve as the foundation for a compliant stablecoin.

▪️The Trade and Logistics Information Pipeline enables secure and efficient exchange of electronic trade documents.

With Europe’s Markets in Crypto-Assets (MiCA) regulations reshaping the crypto landscape, IOTA’s decentralized and scalable technology could position itself as the foundation for a new, compliant stablecoin. IOTA’s feeless and efficient framework makes it an intriguing candidate in the search for the next big player in digital assets.

The launch of MiCA marks a new dawn of regulation in the EU crypto market, which will lead to a more accountable industry. This regulation addresses issues relating to digital assets in a bid to protect the consumer and ensure the stability of the market.

With platforms like Coinbase recently delisting the non-compliant stablecoins, the regulatory change paves the way for new entrants. Could IOTA fill this gap?

IOTA’s Tangle technology enables feeless, instant, and scalable transactions, which will be suitable for a stablecoin designed to function under the MiCA regulation. Such a network is capable of processing many transactions without congesting the network or incurring any costs, which could position it as a stablecoin giant.

How IOTA’s Technology Could Drive Stablecoin Efficiency
At the core of IOTA’s ecosystem is its Trade and Logistics Information Pipeline (TLIP). This decentralized platform is already responsible for securing global trade through the exchange of immutable data. The same principles could be applied to a stablecoin to guarantee the stability, openness, and effectiveness of digital transactions.

TLIP has played a big role in expanding the footprint of IOTA in the African region, especially in the trade industry. The system enables participants to exchange electronic trade documents including export declarations and airway bills safely and effectively.

The TLIP model demonstrates that IOTA can cut costs by half and make cross-border transactions up to 80% cheaper. This can mean huge savings in the stablecoin ecosystem and could be useful for industries looking for effective yet cheap financial tools.

Could IOTA’s Stablecoin Revolutionize Global Trade?
A MiCA-compliant stablecoin issued on the IOTA network could transform the world’s payments system through secure and efficient transactions.

Similarly, TLIP enhances the visibility and effectiveness of logistics, and stablecoin could enhance cross-border payments through quicker and more transparent systems. IOTA’s decentralized approach, coupled with MiCA’s legal certainty, sets the stage for the creation of a safe and sustainable stablecoin.

Collaborations with organizations like Tide Protocol have been instrumental in developing the IOTA EVM ecosystem and providing key technological advancements.  

Furthermore, the collaborations between IOTA and Digimarc, as well as IOTA and Agro2Circular, implement environmental stewardship by mitigating agricultural plastic waste using the DPP.

In addition, IOTA has partnered with the European Commission to develop a new IPR management system that applies DLT, NFTs, and smart contracts. It is worth noting IOTA’s Total Value Locked (TVL) recently surpassed $5 million.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

U.S. GOVERNMENT SET TO AUCTION $4.4 BILLION IN BITCOIN AFTER MAJOR LEGAL WIN!

The U.S. Supreme Court has put an end to the legal battle over 69,370 Bitcoin that were seized from the Silk Road dark web marketplace. These BTC are worth around $4.4 billion.

By refusing to accept the case, the Court opened the way for the U.S. government to sell these bitcoin. Let’s explore what happened and what to expect next.

Battle Born’s Claim Falls Short
The legal tussle centered around a claim from Battle Born Investments, a company that argued it had legitimate rights to the seized Bitcoin. They built their case on the idea that they acquired the assets through a bankruptcy estate tied to a man named Raymond Ngan.

Battle Born believed that Ngan was the infamous “Individual X,” a hacker who had stolen Bitcoin from Silk Road before surrendering the stolen funds to the authorities. However, the federal and appellate courts dismissed these claims.

The Dark Web and the Bitcoin Connection
To help you understand the significance of this matter, let’s share a summary of this 2013 Silk Road case. Ross Ulbricht founded the SIlk Road platform in 2011 which was infamous as a hub for illegal activities.

The Tor network hosted the website, where people could buy anything illegal, from drugs to weapons, by paying in Bitcoin.  At its peak, the Silk Road had millions of dollars in transactions. In 2013, the FBI shut down the marketplace and arrested Ulbricht.

The seized Bitcoin, tied to transactions on the platform, remained with the government, leading to this moment. Adding another twist to the tale, the IRS later traced several btc transactions to “Individual X,” the hacker who stole Bitcoin from Silk Road before authorities shut it down.

 The U.S. government eventually seized those funds in what has become the largest cryptocurrency seizure to date.

What’s Next for the Seized Bitcoin?
Now that the Supreme Court has refused to hear the case, the U.S. government can sell the seized BTC. The U.S. Marshals Service would be overseeing the sale. 

Some of the funds have already been moved to Coinbase Prime. Looks like they are ready to auction the bitcoin. This sale can bring broader implications not just for the crypto market but for the U.S. political environment.

During the Bitcoin Conference 2024 at Nashville, Presidential candidate Donald Trump has shared his plans regarding these seized Bitcoin. He shared his idea to use the seized btc to create a “strategic bitcoin reserve” for the U.S. He suggested the current administration to hold bitcoin instead of selling it like the German government.

@ Newshounds News™

Source:  Coinpedia

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RIPPLE XRP HOLDERS THEY WANT TO END THE MIDDLE CLASS - SHOCKING UPDATE  |  Youtube

@ Newshounds News™  

~~~~~~~~~

🌍 WHICH COUNTRIES ARE WINNING THE CRYPTO RACE? | Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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