News, Rumors and Opinions Friday AM 10-11-2024

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 Fri. 11 Oct. 2024

Compiled Fri. 11Oct. 2024 12:01 am EST by Judy Byington

Judy Note: To add to our concerns a Global Financial Collapse was unfolding that was caused by the Cabal. Although, a Quantum Financial System was already fully operational that would soon trigger the biggest wealth transfer in the history of the World.

All in preparation for a gigantic Worldwide Black Swan Event and NESARA/GESARA Revolution to transfer wealth from the Cabal back to The People.

An Emergency Broadcast System Worldwide Alert was Imminent.

Possible Timing:

On Wed. 9 Oct. 2024 BRICS 12 Countries Ditched US Dollar, Pay 85% Trade in Local Currencies: https://watcher.guru/news/brics-12-countries-ditch-us-dollar-pay-85-trade-in-local-currencies

Mon. 14 Oct. 2024 marks a key date. The old banking system—Bank of America, Deutsche Bank and JP Morgan— were about to collapse. The QFS will take over as stock markets crash. The elites can’t stop it.

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Global Currency Reset:  (Opinions/Rumors)

Thurs. 10 Oct. 2024 Wolverine: “The process has defiantly started. There are around 40 million emails that will be sent out by Wells Fargo so you can set your appointments. It is expected to happen within the next few days and defiantly within this month.”

Wed. 9 Oct. 2024 TNT: “The Dinar International Rate on bank screens is $3.91. It won’t drop below $3.57. The banks have a hold on it. They have designated a time for it to happen. The window opens at 2pm EST today and could be in the next 72 hours or through the rest of the week.”

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Thurs. 10 Oct. 2024 Bruce:

A source who is the liaison for all Redemption Centers east of the Mississippi informed Bruce that by noon on Mon. 14 Oct. 2024 all Redemption Centers liaisons like him will receive a Wells Fargo email that contains exchange instructions. They will have until 5 pm that Mon. 14 Oct. to get that email out to all Redemption Center Heads under them.

On Tues. 15 Oct. Tier 4b (us, the Internet Group) will receive emails from Wells Fargo telling us how to make redemption appointments.

On Wed. 16 Oct. Tier4b can start their appointments.

Exchange appointments will be held for 40 to 50 days and go well beyond the end of October.

On Fri. 11 Oct. Bond Holders are to be notified through email from Wells Fargo as to when they can gain access to their accounts – which will likely be on Tues. 15 Oct.

We could have NESARA/GESARA announcements on Mon 14 Oct, Tues 15 Oct, or Wed 16 Oct.

Wed. 16 Oct. is a celebration day for Iraq and the day they will pay their contractors.

Redemption Centers, not banks, will give you the highest rates.

Wed. 9 Oct. 2024: MILITARY INTEL! Global Strategic Impact: Starlink’s Military Applications, RVs & GESARA, and the Quantum Financial System – amg-news.com – American Media Group

Thurs. 10 Oct. 2024: BREAKING! Global Collapse Unfolding NOW – QFS Fully Operational and White Hats Ready to Liberate Us From the Elite’s CBDC Scam and Trigger the Biggest Wealth Transfer Ever! – Gazetteller

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Global Financial Crisis:

Thurs. 10 Oct. 2024: Bitcoin falls under $59,000. Dow Jones and S&P fall dramatically down into the red as inflation report is released.

Thurs. 10 Oct. 2024: Russia calls on it’s BRICS partners to create an alternative to the International Monetary Fund.

Read full post here:  https://dinarchronicles.com/2024/10/11/restored-republic-via-a-gcr-update-as-of-october-11-2024/

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

Mnt Goat   I have to start off with...some really good news, actually some WOW! WOW! WOW!  news...we can see the path now and very clearly.  So, finally we get word that Iraq has met all it requirements to join the World Trade Organization (WTO)...This DOES NOT make the RV imminent...all these recent activities and events matter and the RV is a “by product” of all these events not a singular event in itself... The view is now in sight and the writing is on the wall. So much on the wall that I do not believe anything is going to stop it short of a major disaster.

Militia Man  The council of Ministers, who we've been talking about a lot have been in the news with Al Sudani.  He had two COM meetings in one day, which is unheard of...You can see where this is headed ... What they're painting a picture of is Iraq is imminently going into the international world.

BRICS Preparing for Impending Currency Collapse | Alasdair Macleod

Liberty and Finance:  10-10-2024

Alasdair Macleod discusses the impending global financial upheaval and its potential impact on currencies worldwide, including the Euro, Yen, and Sterling.

He emphasizes the urgency for individuals to convert credit into gold, which he regards as "real money" despite governmental skepticism.

Macleod highlights the significance of the upcoming BRICS summit, noting that countries outside the traditional financial system are exploring alternatives to the U.S. dollar, potentially backed by gold.

He warns of a looming crisis where fiat currencies could collapse, drastically reducing purchasing power for everyday people in the West.

Overall, he urges listeners to be proactive in safeguarding their financial future amidst these turbulent changes.

INTERVIEW TIMELINE:

0:00 Intro 1:25 BRICS Meeting

21:30 Currency collapse

33:42 Silver's fundamentals

https://www.youtube.com/watch?v=i_LJkQ8E_Ds

“Tidbits From TNT” Friday Morning 10-11-2024

TNT:

Tishwash:  We will not wait for companies, we will act

Baghdad reaches an understanding with the Doha Stock Exchange: Iraqi shares will be able to be traded in Qatar as well

The Iraqi Securities Commission revealed a project with the Qatar Stock Exchange that will allow for the joint establishment of companies, leading to “dual listing” that will allow the listing of Iraqi shares in both the Iraqi and Qatari markets.

The commission member, Wadah Al-Taha, said that it will not wait for major and promising companies to list their shares on the Iraqi Stock Exchange, but will form a committee to encourage those companies. He pointed out that expanding the Iraqi Stock Exchange requires the listing of government sector companies on the stock exchange.

Waddah Al-Taha - Member of the Board of the Securities Commission, in an interview with the media figure, Dhikrayat Muhammad:

Expanding the work of the Iraq Stock Exchange requires restructuring mixed companies, through the government sector relinquishing its shares and listing and offering them for investment, while we work on listing public government companies.

Usually, stock markets around the world represent a mirror of a country’s economy, but in Iraq, the stock market does not reflect the economy, for several reasons, including the weakness of the investment culture, the decline in government support and understanding, in addition to the fact that the importance of listing and initial public offerings is unclear to private sector companies.

We seek to “deepen” the Iraqi Stock Exchange, meaning diversify its sectors participating in the subscription, with the aim of reducing the ceiling of investment risks and creating relative attractiveness for investors. We are currently working on merging our governance draft with the draft of the International Finance Corporation to give a global character to our investment environment and send reassuring messages to foreign investors.

Instead of waiting for promising emerging companies to come to the Iraqi market for listing, we are currently working on forming a specialized committee to move towards such companies and reach an understanding with them in order to list their shares in the market. The criteria for selecting the targeted companies revolve around performance, financial efficiency, company history, sector quality, and management nature.

We have a memorandum of understanding with the Qatari side, and we hope to approve it during the coming period. It has very good content, as it allows us to establish companies jointly, and we aspire to reach the stage of “dual listing” where the Iraqi stock can trade in the Iraqi and Qatari markets, in addition to applying the regulatory standards in effect there.

We apply a high level of “global standard” procedures in terms of combating money laundering. The market is very safe in this regard. Our standards are sometimes harsh and restrictive for investors, but they ensure that there are no illegal financial activities.  link

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Tishwash:  Trade Bank of Iraq announces the number of transfers completed since the launch of the Central Bank platform

The Trade Bank of Iraq announced today, Thursday, that it has transferred more than 4,000 remittances since the launch of the Central Bank platform.

The bank's media advisor, Aqil Al-Shuwaili, said in a statement to the Iraqi News Agency (INA): "More than four thousand various transfers have been transferred to companies and individuals since the launch of the Central Bank of Iraq platform until today, October 10, 2024."

He added, "250 transfers were transferred from the Iraqi bank to the relevant authorities, including commercial, industrial, and even educational transfers  link

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Tishwash:  Minister of Finance stresses the need to adhere to timetables to achieve economic reforms

 Finance Minister Taif Sami Mohammed stressed, on Thursday, the need to adhere to timetables to achieve economic reforms.

A statement by the ministry, seen by Al-Eqtisad News, stated that "Minister of Finance Taif Sami Mohammed chaired a meeting to follow up on the implementation of the government program related to financial, economic and digital affairs, where she reviewed the latest developments in the plans and procedures adopted by the government to achieve economic and financial reforms and discussed the challenges facing the implementation of the program."

The minister stressed, according to the statement, "the importance of adhering to the specified timetables and achieving the desired goals in enhancing economic stability."

The statement added that "the meeting addressed the most prominent economic and financial indicators, and reviewed the results of the reforms that have been completed so far, in addition to discussing ways to accelerate the pace of reform in vital sectors. Sami stressed the need for cooperation between all parties to achieve sustainable development and improve the standard of living for citizens."

The statement concluded by saying that "the minister urged the concerned parties to continue working hard and intensifying efforts to ensure the success of the reform program and achieve sustainable economic growth   link

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Tishwash:  Very frank” talk from Al-Sudani’s advisor: They will bomb us and we will be strategically patient like Iran

"A new map is coming, whether we like it or not."

Ibrahim al-Sumaidaie, advisor to Prime Minister Mohammed Shia al-Sudani, said that the new regional map in the region “is happening, whether we like it or not,” and therefore it is necessary to invest in Iraq’s role, as it ranks second in the United States’ interests after Israel, warning that “the one who falls will fall, and do not let us fall.”

The advisor pointed out that Tel Aviv launching a strike inside Iraq instead of Iran is possible and is the most likely scenario, especially if it fails to reach an understanding with Tehran. He said that Iraq is an unarmed country and cannot do anything other than political diplomatic options due to the clear Western superiority, “even the Russian S-400 anti-aircraft missiles were unable to repel the Kremlin’s missiles.”

He criticized the actions of “some brothers who are gnawing at al-Sudani’s flanks, even though he defends them before the United States and tries to prevent a strike against Iraq.” He called for Iraq to adopt the Turkish method in dealing with the risks of war, as well as the Iranian method “which invented the policy of strategic patience.”

He concluded by saying, “The West sees us as a successful country (..) All the Americans want is for us to be an economic zone not subject to Russian military influence, or Chinese economic influence, without the existence of (sub-state) as this world is ruled by states and not armed groups, and the majority of the political forces supported by the reference are with this trend.”  link

Mot: Folks on da INternet can beee soooo Helpful at times!! – LOL

Mot: ... Finally 

America Is Now On “The Second Half Of The Chess Board”

America Is Now On “The Second Half Of The Chess Board”

Notes From the Field By James Hickman / Simon Black October 10, 2024 

Over fifteen centuries ago, according to an ancient Sanskrit legend, a mythical Hindu priest named Sissa was ordered to invent a new board game to entertain the king of Taligana.

Sissa labored over the task for quite some time, but he eventually brought the King a military strategy game with a 64-square board and beautifully hand-carved pieces. Today we call this game chess. And according to the legend, the King was absolutely enamored with it.

So enamored, in fact, the King offered Sissa any reward he desired. So, the priest asked for a single grain of wheat to be placed on the first square of the chess board. Then two grains on the second square. Four grains on the third. Eight grains on the fourth. And so on.

The King of Taligana thought the request to be humble and cheap. After all, a little bit of wheat was nothing compared to the endless entertainment of this new game. So, he ordered his men to bring in the grain.

But as they continued counting, the numbers began to grow quickly.

One-quarter of the way through the board (sixteen squares), Sissa was owed around 131,000 grains-- roughly four kilograms of wheat. No big deal.

But with every square the amount kept doubling. Halfway through the board Sissa is owed over 8 billion grains-- about a quarter of a million TONS of wheat. And it keeps doubling from there.

By the final square, the amount of grain owed is far more than all the wheat that the world can possibly produce.

This is known in mathematics as exponential growth, i.e. when something grows at a faster and faster rate. Sort of like my kids. Or more ominously, the US national debt.

According to data just released by the federal government, interest on the national debt for Fiscal Year 2024 (which just ended last Monday, September 30) was roughly $1 TRILLION.

That’s just the interest bill.

And while that number itself is simply astonishing, it’s even more important to put it in context. $1 trillion is significantly more than the government spends on virtually EVERY other line item, including the military and Medicare.

In fact, Social Security is the ONLY federal program whose budget exceeds interest on the debt. For now. But within the next 5 years, interest on the debt will surpass even Social Security.

Just going back to FY 2020— which started pre-pandemic on October 1, 2019— the interest bill that year was “only” $345 billion. And in FY21, it only rose to $352 billion. That was just a $7 billion, or 2%, increase. No big deal.

But in FY 2022, it took a more significant jump to $475 billion. Then $660 billion. And now a TRILLION dollars.

So not only is the interest bill increasing, but the rate at which it is increasing… is increasing.

Just like grains of wheat on a chessboard, this is an exponential problem. At first it looks manageable. Even paltry. But around halfway through the chessboard, the problem starts to spiral out of control very quickly.

Technologist and author Ray Kurzweil actually refers to this phenomenon as “the second half of the chess board”, i.e. the part of the exponential growth model where the problem becomes too big to solve.

How did the most powerful nation in the history of the world reach this point?

For starters, a complete lack of discipline when it comes to federal spending. For decades now, the government has spent money as if there were no limit and would never be any consequences to increasing the debt.

This was most noticeable during the pandemic when they (and the media) engineered widespread fear and hysteria, shut down the economy, and then spent trillions of dollars to keep everyone afloat.

The national debt skyrocketed as a result. But at the time, interest rates were practically zero. So, the government’s borrowing costs were pretty negligible. That’s why the annual interest bill barely moved between FY2020 and FY2021.

But as you probably recall, rates soared in 2022. And so did the government’s interest bill.

Each year, in fact, much of the existing national debt matures; money that the Treasury Department borrowed five or ten years ago becomes due and must be paid back.

Naturally, the Treasury Department doesn’t have any money to pay back its lenders. So instead, they issue new debt to repay the old debt.

The problem, of course, is interest rates. The money they borrowed years ago was at 0% or 1%. Today it’s 4%.

Just this past Fiscal Year (2024) the Treasury Department refinanced roughly $5 trillion in debt at significantly higher interest rates… in ADDITION to the $2 trillion in NEW debt that they borrowed.

This means that NEXT YEAR’s interest bill will likely be even HIGHER.

You can see how this problem can quickly become a crisis. Again, five years ago the annual interest expense was $345 billion. Five years from now it could easily be $2 trillion.

Sure, the government’s overall tax revenue is also increasing. A bit. But the interest bill is growing much faster-- at an exponential rate. You can’t have linear growth in your revenue and exponential growth in a major expense and expect to survive.

It appears that the US government has crossed the proverbial Rubicon into the second half of the chessboard. And their options are extremely limited.

On one hand, the government could slash spending, reform entitlement programs (like Social Security, welfare, etc.), and engage in a massive deregulation effort to boost economic productivity. But I’m not holding my breath.

Their other approach will be to increase taxes and print tons of money to keep interest rates artificially low.

This is already starting to happen.

The government released its new inflation data just this morning showing that core inflation is STILL on the rise. Inflation is not beat by a long shot. And yet the Federal Reserve is going full steam ahead in its rate cutting cycle.

Fed officials aren’t stupid. They know that 0% interest rates are the only hope for the US government’s financial survival.

And the chief consequence, of course, will most likely be some pretty nasty inflation.

This is why we keep saying that real assets make so much sense, i.e. crucial materials like metals, energy assets, and productive technology that are (1) useful and critical in the economy, and (2) cannot be created out of thin air by central banks or governments.

Historically, real assets perform extremely well and hold their value during inflationary times.

And the added benefit is that, right now, many of the businesses which produce real assets are at historically cheap levels. We’ll show you a great example tomorrow.

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

https://www.schiffsovereign.com/trends/america-is-now-on-the-second-half-of-the-chess-board-151643/

Seeds of Wisdom RV and Economic Updates Thursday Evening 10-10-24

Good Evening Dinar Recaps,

SEN. HAGERTY'S STABLECOIN REGULATION DRAFT AIMS FOR CLARITY, ECHOES HOUSE BILL FRAMEWORK

▪️The draft closely resembles the Clarity for Stablecoins Act worked on in the House of Representatives by Rep. Patrick McHenry, R-N.C., and Maxine Waters, D-Calif.

▪️“It is Senator Hagerty’s version of McHenry-Waters,” spokespeople for Sen. Hagerty said in an emailed statement to The Block.

Crypto-friendly Sen. Bill Hagerty unveiled a discussion draft of legislation to create a regulatory framework for stablecoins that is very similar to work being done in the House of Representatives.

The Tennessee Republican said his draft legislation "provides much-needed clarity" in a statement on Thursday. The draft closely resembles the Clarity for Payment Stablecoins Act worked on in the House of Representatives by Rep. Patrick McHenry, R-N.C., and Maxine Waters, D-Calif.

“It is Senator Hagerty’s version of McHenry-Waters," spokespeople for Sen. Hagerty said in an emailed statement to The Block. Hagerty also is a member of the Senate Banking Committee, which has jurisdiction over key agencies, including the U.S. Securities and Exchange Commission.

Sen. Hagerty's draft bill takes the structure of the House bill while also splitting federal supervision between the Federal Reserve for banks and the Office of the Comptroller of the Currency for non-banks, his spokespeople said.

Hagerty's draft bill would include a provision that says issuers that go over a $10 billion threshold may get a waiver from their federal regulator to then stay under their state's jurisdiction. 

The draft legislation also includes language around maintaining reserves on a one-to-one basis with reserves that have U.S currency.

“Stablecoins have the potential not only to enhance transactions and payment systems, but also to help create new demand for U.S. Treasuries as we work to address our unsustainable deficit,” Sen. Hagerty said in the statement. “For too long, these benefits and the broader promise of stablecoins have been hindered by the lack of clear regulations."

Negotiations around passing a stablecoin bill have been complicated over the last few years on Capitol Hill. House Financial Services Chair McHenry and the top Democrat of that committee, Rep. Waters, have been working on their bill to create a regulatory framework for stablecoins since 2022. 

The bill advanced out of the Republican-led committee last year but has not gained much traction. At the time, Waters called the bill "deeply problematic" due to a provision that allows state regulators to approve stablecoin issuances without Federal Reserve input.

However, tables might have turned last month during a congressional hearing when Rep. Waters said she wants to "strike a grand bargain on stablecoins" before the end of the year.

Waters said the bill needs to place the Federal Reserve in a "dominant role" and that stablecoins must be backed by safe reserves, such as short-term Treasury bills.

"I've made a public statement to you about bipartisanship — let's see what you do with it," Waters told McHenry in late September.

Cody Carbone, president at The Digital Chamber said the advocacy group was “encouraged” by the release of the draft legislation.

“While the window for passage in this Congress is limited, Senator Hagerty’s efforts have revitalized the discussion,” Carbone said in a statement to The Block.

“The push for a U.S. stablecoin regulatory framework is bipartisan, and we urge lawmakers to prioritize this important, common-sense legislation through the end of the year.”

Ron Hammond, director of government relations at the Blockchain Association said Sen. Hagerty’s draft was “an important development” especially after comments made by McHenry and Waters to move forward stablecoin legislation before the end of the year.

“While the election results will largely determine what is in the realm of possible for the lame duck, it is likely the Republicans will take back the Senate and this effort from Sen Hagerty could be the starting point for a Republican led Senate Banking Committee in 2025 should stablecoins not get addressed in the lame duck,” Hammond said in a statement to The Block.

Update: Oct. 10 , 10:15  p.m. UTC to include comments from Carbone and Hammond

@ Newshounds News™

Source:  The Block

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RIPPLE NEWS: COULD GARY GENSLER’S RESIGNATION OR REMOVAL LEAD TO A DISMISSAL OF THE RIPPLE-SEC LAWSUIT?

The U.S. SEC has filed an appeal in its case against Ripple, after a federal judge ruled that the SEC did not prove Ripple violated securities laws by selling XRP to retail customers.

The SEC’s appeal, submitted to the Second Circuit Court of Appeals, argues that the judge’s decision contradicts established Supreme Court precedents and securities laws.

As we look ahead, several factors could influence the ongoing legal battles in the crypto space. With an election approaching, potential changes in leadership could  impact the SEC’s direction. If Donald Trump wins, the current dynamics could shift dramatically.

There’s widespread concern about how ongoing litigation is driving innovation out of the United States. According to James Murphy aka MetaLawMan, this situation could lead to one of two outcomes: either Gary Gensler resigns or is removed from his position, replaced by someone less hostile towards crypto. A new leader might prioritize settling or dismissing cases rather than pursuing aggressive actions against the industry.

James said that the upcoming presidential election’s importance for cryptocurrency regulation. He noted that Kamala Harris recently couldn’t identify any mistakes the Biden Administration made regarding crypto, despite ongoing efforts—dubbed “Operation Choke Point 2.0″—to restrict the industry.

It’s also worth noting that there’s legislation in the works that could clarify jurisdiction over cryptocurrency, suggesting that it might be impractical for judges to decide these matters without clear guidelines from Congress. Given this landscape, there’s a greater than 50% chance that we could see changes that alter the course of these cases.

He added that influential figures like Mark Cuban and Anthony Scaramucci suggest changes might be on the horizon, but he’s doubtful. With the election just weeks away, he pointed out that the administration could easily request Gary Gensler’s resignation, and typically, such requests are complied with. However, he expressed frustration that no actions have been taken yet.

@ Newshounds News™

Source:  Coinpedia

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BRAZILIAN AUTHORITIES LAUNCH OPERATION TARGETING ENTITIES FACILITATING CRYPTO MONEY LAUNDERING

The Brazilian Federal Police launched Operation Alcacaria this Wednesday, aiming to thwart the action of a network focused on providing money laundering services using cryptocurrency. The operation involved 62 search warrants, 13 arrest warrants, and the seizure of funds of the involved entities in banks.

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Brazilian Authorities Execute Operation Alcacaria Against Crypto Money Laundering Actors
Brazil is strengthening measures against institutions leveraging crypto to complete financial crimes.

Local media reported that the Brazilian Federal Police launched Operation Alcacaria on Wednesday, targeting several financial operators that provided money laundering services to criminal organizations nationwide.

The operation was executed jointly with the Federal Revenue Service. The still unnamed organizations targeted by the police are being investigated for their involvement in money laundering, currency evasion, the operation of an illegal financial institution, and the use of false documents.

In addition, the police are also tracking and investigating exchanges that would also be working with these operators, providing them with digital asset liquidity for money laundering activities. However, no names have been shared publicly.

On this, the Federal Police stated:

These money launderers are allegedly responsible for currency evasion and money laundering for a variety of crimes throughout Brazil, in a practice known as crypto-cable.

The operation was launched simultaneously with a similar initiative called Operation Privilege, which also shared some suspects with this one. 13 preventive arrest warrants and 20 search warrants were issued as part of Privilege, which has a regional anti-crime force at its helm, the Rio Grande do Sul Organized Crime Task Force.

Last month, Brazil also executed Operation Niflheim, a high-level crackdown on three organizations that had laundered almost $10 billion using crypto, sending these funds to countries like the U.S., the United Arab Emirates (UAE), Hong Kong, and China. This makes Alcacaria the last of three actions launched against cryptocurrency-based money laundering crime in Brazil in less than one month.

@ Newshounds News™

Source:  Bitcoin News   

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5 Essential Books and Resources for Financial Planning Enthusiasts

5 Essential Books and Resources for Financial Planning Enthusiasts

Laura Bogart  Wed, October 9, 2024   GOBankingRates

You might think that you need an expensive education, or at least hours of formal training, to become knowledgeable about financial planning. And who has time for all of that, especially if you’re locked in to your current job, your family life and your other responsibilities?

However, you don’t have to spend hundreds of dollars on financial planning certifications, or even head back to school to learn more. After all, you’re reading this GOBankingRates article, hoping to learn more about personal finance issues that are relevant to you and your loved ones and explore the worlds of smart saving and growing your wealth.

There are myriad resources out there that can help you boost your own financial literacy at very little personal cost, from books you can check out from your local library to podcasts that will inspire you on your next long walk.

GOBankingRates talked to some financial planners and professionals to get their recommendations for the books and resources that are essential to your financial growth.

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

‘The Total Money Makeover’ by Dave Ramsey

Tyler Meyer, CFP, founder of Retire to Abundance, recommended this popular title by Dave Ramsey as a terrific entry point for people who need a plainspoken and practical approach to money management. This book focuses on paying off debt, building an emergency fund and living on a budget.

“His ‘Baby Steps’ strategy breaks personal finance down into easy-to-follow stages, making it less overwhelming for people who are just starting out,” he said. “While his advice is more rigid than some other approaches, especially when it comes to debt, the fundamentals of disciplined budgeting and saving are timeless.”

 ‘Simple Wealth, Inevitable Wealth’ by Nick Murray

Meyer also suggested that people hoping to rethink their relationship with wealth and money check out this title by Nick Murray. According to Meyer, the book is powerful because it emphasizes the mindset behind wealth building rather than just the financial strategies alone. The author focuses on a message that long-term investing and staying the course are important, as is understanding that accumulating wealth is all about patience and perseverance.

“His insights into human behavior and how it impacts investing make this a must-read for anyone serious about growing their wealth. It’s particularly relevant for those nearing or in retirement, as it helps readers see the bigger picture of how time in the market creates success,” Meyer said.

TO READ MORE:  https://finance.yahoo.com/news/5-essential-books-resources-financial-180234829.html

Iraq News Highlights and Points To Ponder Thursday Evening 10-10-24

Who Will Stop The "Collapse Of The Dinar"? Dollar Prices Continue To Soar In Iraqi Markets

Economy |Baghdad Today - Baghdad   The dollar exchange rates continued to rise in local markets today, Thursday (October 10, 2024). Baghdad Today correspondent said that the exchange rates in the main stock exchange in the capital, Baghdad, recorded a selling price of 154,500 dinars for every 100 dollars, while the buying price was 153,250 for every 100 dollars.

He added that the selling price of the dollar in Erbil reached 153,800 dinars, while the purchase price reached 153,600 dinars for every 100 dollars.

He pointed out that the selling price of the dollar in Basra reached 153,500 dinars, while the purchase price reached 153,250 dinars for every 100 dollars.

The exchange rate of the dollar against the Iraqi dinar witnessed a noticeable increase during the past few days, as the selling price exceeded 153 thousand for every 100 dollars.   LINK

TBI Moves On Dollar Prices

Economy  2024-10-09 | 10,062 views  Sumerian News – Economy   The Trade Bank of Iraq (TBI) announced today, Wednesday, that it has taken a series of measures to support the stability of the exchange rate and prevent exploitation by speculators.

The Director of the Tahrir Branch of the Iraqi Bank, Yarab Al-Hashemi, said in a statement received bySumerianNews, "The bank's management has taken a series of measures to stabilize the exchange rate and prevent market manipulation, including increasing working hours at the bank's branches, which has had an impact on the speed of completing merchants' transactions, the smoothness of financial transfers, and eliminating the momentum that has been created in this regard."

He added, "There is a series of measures being taken successively that will have a clear impact on controlling the exchange rate, preventing speculators, and limiting the granting of dollars to the beneficiaries exclusively."

Prime Minister Mohammed Shia al-Sudani directed to intensify inspection procedures in financial transfer operations and not to be lenient or lenient in pursuing speculators who exploit the crises the region is going through to achieve personal profits and benefits at the expense of the public interest of the country.   LINK

How Prepared Is Iraq For An Expected "Cyber Strike"?

Baghdad Today – Baghdad  Cybersecurity expert Ali Al-Zubaidi commented on Wednesday (October 9, 2024) on Iraq’s readiness for any expected “cyber” strike during the next phase.

Al-Zubaidi told Baghdad Today, "Iraq has done its best to provide an electronic firewall against cyber attacks, but what it has is not enough due to the weakness of both the electronic and human infrastructure."

He added, "These structures are still weak and incomplete and can be easily penetrated. If Iraq is exposed to a cyber attack, its security and military institutions, sovereign ministries, banking information, civil and passport departments, airports, and all institutions that have been subjected to the automation system will be penetrated."

He warned that "this in itself will create confusion and chaos in the work of these institutions, and the limits of the resulting damage cannot be imagined, as it is determined by the limits of what the attacker can do or achieve, and what he aims to achieve through his attack, but in all cases the damage will be great."

Cybersecurity is the fifth domain of contemporary warfare, and the loophole through which one can access the positions of all countries and societies, if they are not constantly maintained, in accordance with digital developments.

However, in Iraq, the International Telecommunication Union’s Global Cybersecurity Index still ranks it 107th globally and 13th in the Arab world, despite the availability of many of the country’s main infrastructures, including technologies and skills, among the country’s competent authorities, according to experts.

Successful cybersecurity takes a specific approach that typically consists of multiple layers of protection deployed across the computers, networks, software, or data that one intends to keep safe. In any organization, users, processes, and technology must complement each other and work together to create an effective defense against cyber attacks.

On September 13, the National Security Service announced the launch of the first cybersecurity platform in Iraq.

The agency said in a statement received by "Baghdad Today", "Security and military operations alone are not sufficient to confront the phenomena that threaten community security, and there must be awareness and education campaigns targeting society in order to fortify itself against these phenomena."  LINK

Experts: Diversifying Revenues Is A Guarantee Of Economic Stability

Economic  2024/10/10  Financial and economic experts expect that the recent developments in the Middle East will create a state of instability in the region and in global markets, including the labor market, which is greatly affected by the general conditions prevailing in a region where oil production is concentrated.

Economic expert and former minister Dr. Raed Fahmy, in an interview with “Sabah”, believes that “countries that depend on oil, such as Iraq, despite the country’s attempts to attract foreign capital, will witness a state of fluctuation,” noting that “this is reflected in the average citizen and his purchasing power, because the turmoil in the region will have a negative impact on the course of things in general, and prices in particular.”

Fahmy pointed out that “Iraq is an importing country, and the volume of its imports constitutes about 90-98% of its needs from abroad, including food needs,” indicating that “import and export operations, and the dollar exchange rates will be affected in the coming days and will be reflected in the commercial movement and exchanges, including the price of oil.”

He added that “the turbulent situation and lack of clarity of vision will affect all investors and projects that may be initiated in the region,” expecting that long-term investment decisions in many countries “will witness a state of waiting that will be reflected in economic activity  in general.”

In this context, economic researcher and consulting engineer Imad Al-Muhammadawi told Al-Sabah: “The region is currently witnessing highly tense conditions, which may lead to a rise in oil prices and a change in the dollar exchange rate.”

Al-Muhammadawi considered the country’s reliance on the rentier economy “an obstacle to diversifying the state’s general revenues, as oil revenues constitute about 99% of its exports and 85% of the country’s general budget,” noting that “enhancing non-oil revenues, controlling spending and activating the role of the private sector will work to achieve financial sustainability in such exceptional circumstances.”

It is noteworthy that the government has taken major and important steps to diversify revenues through partnerships with the private sector, reducing tax evasion, rehabilitating factories and paying attention to agriculture.   https://alsabaah.iq/103909-.html

US Banks Face $500 Billion in Losses as De-Dollarization Grows

US Banks Face $500 Billion in Losses as De-Dollarization Grows

Geopolitical Analyst:  10-9-2024

In the world of global finance, the tides are shifting. While the BRICS alliance — comprising Brazil, Russia, India, China, and South Africa — is diligently strengthening its banking framework and advocating for de-dollarization, the United States finds itself wrestling with a series of financial challenges that could have far-reaching implications.

With the recent collapse of 15 banks in just three years, concerns about the stability of the US banking system are becoming increasingly pronounced.

The data coming to light is alarming. In a recent report, finance expert Dr. Rebel Cole from Florida Atlantic University unveiled that US banks are currently grappling with over $500 billion in unrealized losses on investment securities as of the end of Q2 2024. While there was a slight decrease from $516 billion in Q1 to $513 billion in Q2, the overall picture is still concerning for an economy that has long prided itself on resilience and stability.

These unrealized losses represent a significant burden on the balance sheets of American banks, indicating that the financial health of these institutions is under duress. Coupled with the fact that banks in the US have seen numerous failures, the future of the banking sector is increasingly uncertain. This backdrop cannot be overlooked; it hints at deeper systemic issues that could provoke wider financial instability.

Meanwhile, the BRICS bloc is actively pursuing strategies to insulate themselves from the pressures of the US dollar. Central banks within this alliance are accumulating gold reserves at an unprecedented pace. This tactic serves as a hedge against the volatility of the dollar and underscores the BRICS countries’ commitment to reducing their dependency on US currency.

The motivation behind the BRICS nations’ push for de-dollarization isn’t merely economic; it’s fundamentally geopolitical. By fostering financial independence from the US dollar system and increasing their gold reserves, these countries are positioning themselves to withstand the shocks that the US economy currently faces.

Dr. Cole’s analysis sheds light on the troubling nexus between unrealized losses and the exposure of banks to uninsured deposits. As inflation continues to plague the economy and interest rates fluctuate dramatically, the potential for further instability does exist. The recent volatility in the 10-year treasury yield is testament to the unpredictable nature of the current economic landscape. High inflation rates in the US are further eroding confidence in the dollar, prompting many to question the reliability of an economy that has long been considered the bastion of financial stability.

As US banks navigate these complex waters, the combination of significant unrealized losses and a precarious position regarding uninsured deposits could spell disaster. The specter of financial instability looms, casting a shadow over the once-unassailable dominance of the American banking system.

The juxtaposition of BRICS’ resilience and US banks’ challenges signals a notable shift in global finance. While the BRICS alliance actively fortifies its foundations through asset accumulation and strategic partnerships, the US is left to weather the storm of its financial missteps. The growing unease over the stability of the US dollar, alongside the BRICS nations’ efforts to create a diversified and independent financial ecosystem, creates a sense of urgency.

As financial dynamics evolve, it is crucial for policymakers, investors, and consumers alike to remain vigilant. The stabilization of the US banking system is imperative not only for the nation’s economic well-being but also for the global financial order. The decisions made today in response to these challenges will determine how the landscape will look in the coming years.

In conclusion, the rise of the BRICS alliance coupled with the struggles of the US banking system marks a potential turning point in global finance. The projected unrealized losses, coupled with financial instability and the aggressive de-dollarization strategy of BRICS, suggests a transformative period ahead. As we navigate this evolving landscape, the implications will surely resonate throughout the global economy, redefining power and influence in the world of finance. Only time will reveal how these developments will reshape our financial realities.

Watch the video below from Geopolitical Anaylist for more information.

https://youtu.be/eUBxh5wKHgg

https://dinarchronicles.com/2024/10/10/geopolitical-analyst-us-banks-face-500-billion-in-losses-as-de-dollarization-grows/

More News, Rumors and Opinions Thursday PM 10-10-2024

KTFA

Clare:  Minister of Finance stresses the need to adhere to timetables to achieve economic reforms

10/10/24  Baghdad - WAA - 

Minister of Finance Taif Sami Mohammed stressed, today, Thursday, the necessity of adhering to the timetables to achieve economic reforms.

A statement by the ministry - received by the Iraqi News Agency (INA) - stated that "Minister of Finance Taif Sami Mohammed chaired a meeting to follow up on the implementation of the government program items related to financial, economic and digital affairs, where she reviewed the latest developments in the plans and procedures adopted by the government to achieve economic and financial reforms and discuss the challenges facing the implementation of the program."

The minister stressed - according to the statement - "the importance of adhering to the specified timetables and achieving the desired goals in enhancing economic stability."

The statement added that "the meeting addressed the most prominent economic and financial indicators, and reviewed the results of the reforms that have been accomplished so far, in addition to discussing ways to accelerate the pace of reform in vital sectors.

Sami stressed the need for cooperation between all parties to achieve sustainable development and improve the standard of living for citizens."

The statement concluded that "the minister urged the concerned parties to continue working hard and intensifying efforts to ensure the success of the reform program and achieve sustainable economic growth."   LINK

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Clare:  Trade Bank of Iraq announces measures to support exchange rate stability

10/9/2024   Baghdad

The Trade Bank of Iraq (TBI) announced on Wednesday that it has taken a series of measures to support the stability of the exchange rate and prevent exploitation by speculators.

The Director of the Tahrir Branch at the Iraqi Bank, Yarab Al-Hashemi, said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "the bank's management has taken a series of measures that would stabilize the exchange rate and prevent manipulation in the market, including increasing working hours in the bank's branches, which had an impact on the speed of completing merchants' transactions and the smoothness of financial transfers and eliminating the momentum in that."

He added, "There is a series of measures being taken successively that will have a clear impact on controlling the exchange rate, preventing speculators, and limiting the granting of dollars to the beneficiaries exclusively."

Prime Minister Mohammed Shia Al-Sudani directed "intensifying inspection procedures in financial transfer operations and not being lenient or lenient in pursuing speculators who exploit the crises that the region is going through; to achieve personal profits and benefits
at the expense of the public interest of the country."  LINK

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

Militia Man  They're got e-government and their institutions doing payments electronically.  600 entities of the government already are doing it.  That's huge.  There's no turning back...The country of Iraq is embracing electronic digitization for the state institutions and the financial system progress has been massive...2 million cards the first year and 18 million more this year...It shows progress like no other...Turning on their new exchange rate will ignite the country into a digital revolution.  The world will marvel over it...

Frank26  Sudani on Friday told the citizens [in an article] we're lifting the three zeros to add value to your currency so you have purchasing power, all of this by the end of the year. Then the following day, Saturday, they [Barzani in Kurdistan] came out and they said word for word they're going to lift the value, they're going to add purchasing power, that's what Baghdad..the central bank...Sudani's people are saying.  It looks like they want to get it done by the middle of October...

Iraq Strengthening Banking Sector- CBI- Exploring Peru's Currency for Investment

Edu Matrix:  10-10-2024

Iraq Strengthening Banking Sector CBI Exploring Peru's Currency for Investment - Iraqis are concerned that Israel will target them next. Exploring the SOL Exotic Currency for a potential investment option. IQD Rates SOL Exchange Rates.

https://www.youtube.com/watch?v=8gq0FbW1ymw

LIVE! EXPECT THE STOCK MARKET TO RISE FASTER! AS THE ECONOMY CONTINUES TO CRATER...

Greg Mannarino:  10-10-2024

https://www.youtube.com/watch?v=SMMF7yxowqo

Iraq Economic News and Points To Ponder Thursday AM 10-10-24

Oil Prices Rise Amid Fears Of Storms And Regional Unrest

Economy  | 10/10/2024  Mawazine News – Economy  Oil prices rose more than 1 percent on Thursday, supported by rising fuel demand as a major storm swept through Florida and concerns about potential supply disruptions in the Middle East.

Brent crude futures were up $1.2, or 1.6 percent, at $77.78 a barrel by 1330 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up $1.16, or 1.6 percent, at $74.40 a barrel.

The United States, the world’s largest oil producer and consumer, is grappling with another major storm, Hurricane Milton, which hit Florida, where about a quarter of gas stations ran out of supplies, helping support crude prices.

Prices have surged this month after Iran fired more than 180 rockets at Israel on Oct. 1, raising the prospect of retaliation and targeting Iranian oil facilities.

With Israel yet to respond, crude prices have retreated again and have been relatively steady throughout the week.

Biden “continues to dissuade Israel from targeting oil facilities but there are growing concerns that Israel’s allies have little influence over its strategy,” analysts at ANZ said in a note on Thursday.

While threats to Middle East production are at the forefront, weak demand continues to cloud the fundamental outlook.   https://www.mawazin.net/Details.aspx?jimare=255852

Iraq Raises Gold Reserves To 152.6 Tons, According To The World Gold Council

Time: 2024/10/10 11:34:18 Read: 1,651 times  {Economic: Al Furat News} Iraq’s gold reserves increased by 4 tons in the past two months, reaching 152.6 tons, according to a report issued by the World Gold Council. This increase places Iraq in 29th place globally among 100 countries in gold reserves, according to last month’s data.

At the Arab level, Iraq came in third place after Saudi Arabia and Lebanon, as data recorded an increase in Iraqi gold reserves from 148.3 tons to 152.6 tons.

Last August, Mazhar Mohammed Salih, economic advisor to the Iraqi prime minister, confirmed that gold represents about 10% of Iraq’s foreign currency reserves. He pointed out that the reserve had reached 148 tons at the time.

It is worth noting that Iraq recorded a gold reserve of 145 tons and 661 kilograms last February, indicating that the continuous increase reflects financial stability and stability in cash liquidity.

Globally, the United States holds the lead in gold reserves with 8,133 tons and 300 kilograms, followed by Germany with 3,351 tons and 500 kilograms, and then Italy in third place with 2,814 tons. LINK

Al-Hakim Stresses The Need To Leave The Rentier State And Activate The Five-Point Economy

Thursday 10 October 2024 | PoliticsNumber of readings: 61  Baghdad / NINA / The head of the National Wisdom Movement, Ammar al-Hakim, stressed the need to leave the rentier state and activate the economic quintet.

A statement from his office stated that al-Hakim received in his office in Baghdad Dr. Mazen al-Hakim, head of the Sibar Center for Digital Economy, and discussed with him the developments of events in Iraq and the region.

Al-Hakim stressed the importance of study centers to support the governmental and legislative system with ideas and studies, and the importance of studies being realistic and applicable.

Al-Hakim pointed to the nature of the economic challenges facing Iraq, stressing the need to leave the rentier state and activate the economic quintet represented by agriculture, industry, tourism, investment and technology. /  https://ninanews.com/Website/News/Details?key=1161129

Promoting The Private Sector Through Legislative And Executive Support

Economy  | 10/10/2024  Mawazine News – Baghdad  The head of the Federation of Chambers of Commerce, Abdul Razzaq Al-Zuhairi, confirmed today, Thursday, that the private sector enjoys legislative and executive cover and great attention from the government and has reached a stage of stability, which contributed to the construction process and attracting foreign investments.

Al-Zuhairi said in a statement to the official agency, that "the private sector was able to build a strong name for itself in recent years after the current government assumed responsibility, as it contributed to the construction process and attracting foreign investments."

He explained that "the government paid remarkable attention that contributed to the continuity and distinction of this sector," noting that "the support included important sectors such as housing, energy and agriculture, by facilitating many procedures such as financial support, simplifying regulations and facilitating the entry of foreign investors."

He pointed out that "the private sector now enjoys strong legislative and executive cover, which contributed to its stability and growth.

" Al-Zuhairi stressed "the importance of controlling borders to prevent the entry of irregular goods and developing development banks that effectively support the private sector."

He concluded his speech by saying that "recent years have witnessed a successful start for the private sector, which is still in the beginning and needs time to grow and develop." https://www.mawazin.net/Details.aspx?jimare=255846

The US Embassy rejects any targeting of the religious authority, Mr. Ali al-Sistani

The US Embassy in Iraq announced on Thursday that the United States rejects any targeting of the highest religious authority, Sayyid Ali al-Sistani, while indicating that Sayyid al-Sistani represents a decisive and influential voice in promoting a more peaceful region.

The embassy said in a statement to the Iraqi News Agency (INA): "The United States rejects any targeting of His Eminence Grand Ayatollah Sayyid Ali al-Sistani," indicating that "Sayyid al-Sistani is a prominent religious figure who enjoys great respect in the international community."

It added that "the United States believes that His Eminence Grand Ayatollah Sayyid al-Sistani represents a decisive and influential voice in promoting a more peaceful region." https://www.radionawa.com/all-detail.aspx?jimare=39713

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

4 Uncomfortable Truths About Money You Should Know

4 Uncomfortable Truths About Money You Should Know

 According to Rachel Cruze  GOBankingRates  Peter Burns  Thu, October 10, 2024

Getting your finances right isn’t a walk in the park. Sometimes it takes a long look in the mirror and admitting some uncomfortable truths about your money situation before you can make real progress.

Rachel Cruze, personal finance expert and co-host of “The Ramsey Show,” got candid about her financial journey in a recent YouTube video. In it, she shared some hard financial truths she’s learned over the years and broke them down so you can benefit from her knowledge.

Making More Money Doesn’t Guarantee Financial Success

As a finance expert for more than 15 years, Cruze has dealt with people with different levels of income. She’s met successful individuals who pull in $200,000 a year but still live paycheck to paycheck, and some who make $40,000 annually but have an emergency fund and no debt. The lesson she’s learned through these interactions is that having more money doesn’t guarantee that you’ll solve your financial issues.

A recent survey by Capital One found that 77% of Americans feel anxious about their finances, with 58% saying it controls their life. Cruze explained that the way to get your finances under control is more about your behaviors than the amount you make.

Practicing smart money habits, like developing a paycheck routine and budgeting, will benefit your long-term financial health more than a raise.

Investing Should Be a Goal You’re Working Toward

Another recent survey found that 41% of millennials aren’t investing, with nearly half of those individuals saying they don’t earn enough money to do so. Cruze believes this is a big mistake, because making a habit out of investing even small amounts can pay off in big ways.

TO READ MORE: https://finance.yahoo.com/news/4-uncomfortable-truths-money-know-120021923.html

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 10-10-24

Good afternoon Dinar Recaps,

RIPPLE HITS BACK AT SEC, FILES CROSS-APPEAL

The feud continues: Ripple Labs has announced plans to file a cross-appeal in its ongoing legal case with the U.S. Securities and Exchange Commission.

This move by Ripple is meant to preserve its legal defenses as the SEC’s own appeal proceeds through the courts. The SEC filed an appeal on Oct. 2 to counter the July 2023 ruling that concluded XRP cannot be classified as a security.

The SEC’s appeal follows the ruling that determined Ripple’s sale of XRP on exchanges did not violate federal securities laws.

Ripple CEO Brad Garlinghouse tweeted that, with the cross-appeal, Ripple is “looking forward to sealing the SEC’s fate and finally putting an end to the SEC’s regulation-by-enforcement agenda.”

The SEC sued Ripple in December 2020, claiming that XRP, Ripple’s cryptocurrency, was sold as an unregistered security. Securities are financial instruments, like stocks or bonds, that must meet strict regulatory requirements before being sold. The key issue in the case is whether XRP qualifies as a security.

Ripple’s cross-appeal ensures it can address all aspects of the case as the legal process continues. According to Ripple’s Chief Legal Officer Stuart Alderoty, the company wants to keep all options open.

This comes despite the SEC’s contentious stance on what constitutes a token as a security — and despite clear details of the SEC’s appeal.

In appeal cases like this, both parties file notices explaining the basis of their arguments, followed by more detailed legal briefs. Ripple’s next step is to submit these briefs as the appeal progresses. Both Ripple and the SEC will be outlining their positions in the coming weeks.

The ongoing battle
As mentioned earlier, Ripple Labs was sued in 2020 by the SEC for conducting an unregistered securities offering by selling XRP. The SEC claimed that XRP was a security under U.S. law and alleged that Ripple and its executives raised $1.3 billion in capital without proper registration.

Ripple argued that XRP does not meet the criteria for a security under the Howey Test.

Throughout the case, Ripple achieved several important milestones, such as a key ruling by Judge Sarah Netburn in March 2021, which distinguished XRP from Bitcoin and Ethereum, acknowledging its utility and currency-like value.

The court also ordered the release of crucial documents, including internal communications from former SEC director William Hinman, whose comments on Ethereum’s status as a non-security influenced the case.

On July 13, 2023, Judge Analisa Torres ruled that XRP is not a security when sold on exchanges to the public, marking a significant victory for Ripple and the broader crypto industry.

However, the court ruled that Ripple’s XRP sales to institutional investors violated securities law. Ripple’s legal struggles continued, including the SEC’s attempt to appeal this decision, which was denied in October 2023.

Ultimately, Ripple faced a $125 million fine. However, the ruling marked a turning point in the crypto regulatory landscape, setting a precedent for how digital assets are classified in the U.S. moving forward.

@ Newshounds News™

Source:  Crypto News

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SOUTH KOREA ALLOWS DIVISION OF CRYPTO IN DIVORCE SETTLEMENTS

South Korean law allows spouses to claim cryptocurrency and Bitcoin holdings during divorce proceedings, recognizing them as marital assets, law firm says.

Married couples in South Korea can now divide cryptocurrency holdings during divorce proceedings, according to a law firm specializing in the country’s legal system.

South Korean law firm IPG Legal clarified the law regarding cryptocurrencies during divorce cases. Responding to questions from clients, the firm said that under South Korean law, both tangible and intangible assets can be divided during a divorce:

“Under Article 839-2 of the Korean Civil Act, either spouse may request a division of marital assets accumulated during the marriage upon the divorce in Korea.”

The firm pointed to a 2018 ruling by South Korea’s Supreme Court that confirmed cryptocurrency and virtual assets are considered property due to their economic value as intangible assets.

South Korea considers crypto as an intangible asset
As a result, any cryptocurrencies acquired during marriage can be regarded as part of the marital estate. Spouses who are aware of their partner’s crypto exchange wallets can have courts issue a “fact-finding investigation” to ascertain the value of their holdings.

Tracking crypto investments is easier than traditional cash, considering that blockchain technology preserves all transactions and does not allow external factors to modify or delete entries.

Bank withdrawal records and other forensic investigations also allow for the discovery of unknown sources of crypto holdings.

Partners can choose to either cash out the crypto holdings before splitting or share the tokens directly.

Investigators find hidden Bitcoin in New York divorce
The growing use of cryptocurrency in finance has led to more divorce cases involving digital assets worldwide.

During a New York couple’s divorce proceedings, the wife appointed a forensic accountant to uncover her husband’s hidden Bitcoin holdings.

The wife found that her soon-to-be ex-husband failed to declare 12 BTC — worth about $500,000 — stored in an undisclosed crypto wallet.

“It was never even a thought in my mind because it’s not like we were discussing it or making investments together. It was definitely a shock,” she said.

@ Newshounds News™

Source:  CoinTelegraph

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ARGENTINA OVERTAKES BRAZIL IN CRYPTO INFLOWS — CHAINALYSIS

Argentina’s stablecoin market is one of the largest in the world in terms of share of stablecoin transactions, beating the global average by 17%.

Argentina, one of the fastest-growing cryptocurrency markets, has overtaken Brazil as the top Latin American (Latam) country in terms of estimated crypto inflows by users.

Crypto users in Argentina deposited the largest amount of crypto in Latam between July 2023 and June 2024, with inflows totaling $91 billion, Chainalysis reported on Oct. 9.

With an estimated $91 billion in crypto inflows, Argentina has overtaken Brazil in terms of total crypto value received, ranking slightly ahead of Brazil’s estimated $90 billion during the period.

Argentina’s stablecoin activity is 17% higher than the global average
The rapid growth in crypto adoption in Argentina comes amid a decades-long battle with inflation and local currency devaluation, forcing Argentinians to seek alternative ways of saving, including using the US dollar or dollar-pegged stablecoins.

According to Chainalysis, Argentina’s stablecoin market is one of the largest in the world in terms of share of stablecoin transactions. It is also among the leaders in the Latam region.

Argentina’s share of stablecoin transaction volume amounted to 61.8% between July 2023 and June 2024, slightly above Brazil’s share of 59.8%. Argentina’s stablecoin activity is well above the global average of 44.7% but lower than Columbia’s 66%.

The report highlighted that the share of Argentina’s retail-sized stablecoin transactions — those under $10,000 — is growing faster than any other asset type. This trend suggests that Argentinians are relying on stablecoins to protect their finances from inflation and currency instability. The report stated:

“Their interest in stablecoins highlights the role of crypto in unstable markets and how citizens are able to take better control of their financial futures by embracing cryptocurrency, regardless of official monetary policy.”

Tether prioritizes markets like Argentina over developed economies
Argentina’s growing stablecoin activity comes as stablecoin issuer Tether focuses more on emerging markets like Argentina rather than developed economies like the US.

The operator of the world’s largest US dollar-pegged stablecoin, Tether USDT, Tether recognized Argentina’s need for the “digital dollar,” its CEO Paolo Ardoino told Cointelegraph last week.

“That people want to hold that dollar, not in cash, but in a digital form because it’s much more convenient,” Ardoino said.

Argentina has increasingly positioned itself as a crypto-friendly country. In late 2023, Argentina officially allowed using Bitcoin in legally binding contracts after pro-Bitcoin President Javier Milei took office in December 2023.

Despite Argentina becoming one of the most active jurisdictions in cryptocurrency usage, the local government is yet to regulate the growing market.

According to Forbes, Argentina struggled to provide regulated cryptocurrency services to its population as of July despite the government making multiple efforts to introduce regulations.

While developed economies like those in Europe have been pushing stablecoin regulations in recent years, Argentina has yet to introduce a stablecoin framework.

@ Newshounds News™

Source:  CoinTelegraph

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RIPPLE XRP! THE FED JUST LAUNCHED THEIR DIGITAL CURRENCY  |  Youtube

@ Newshounds News™  

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🌍 The Constitution Friday Nights Call with Seeds of Wisdom Team  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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