Russia Seeks BRICS To Defeat The Dollar.

Russia Seeks BRICS To Defeat The Dollar.. The Ukrainian War Changes The Global Economic Map

Reports  Economy News - Follow-up   The Economist magazine discussed Russian President Vladimir Putin's plan to defeat the dollar through the BRICS group during the meeting that will bring together less than 20 countries.

“Russian President Vladimir Putin will certainly look great on October 22 when he poses for photos with leaders of perhaps 24 countries, including Narendra Modi of India and Xi Jinping of China, at the BRICS summit in Kazan on the Volga,” the magazine said in a detailed report translated by Al-Eqtisad News.

Last year, when “the bloc met in Johannesburg and expanded from five members to 10, Putin had to stay home to avoid arrest on a warrant issued by the International Criminal Court in The Hague. This time he hopes to be seen playing a leadership role in a fast-growing club that challenges the dominance of the Western-led order.”

Now in its 15th year together, “the original BRICS (Brazil, Russia, India, China and South Africa) has achieved little. Yet Putin hopes at this summit to give the bloc weight by urging it to build a new global financial payments system to challenge America’s dominance of global finance and protect Russia and its friends from sanctions.”

“Everyone understands that anyone can face American or other Western sanctions,” Russian Foreign Minister Sergei Lavrov said last month. The BRICS payments system would allow “economic operations without dependence on those who have decided to weaponize the dollar and the euro.”

The system, which Russia calls the “BRICS Bridge,” is due to be built within a year and would allow countries to make cross-border settlements using digital platforms run by their central banks. Controversially, it may borrow concepts from a different project called mBridge that is partly run by the Western-led system’s bastion, the Bank for International Settlements (BIS).

The talks will highlight “the race to reshape the global financial system. China has long been betting that payments technology — not creditor revolts or military conflict — will diminish the power America gets from being at the center of global finance.

The BRICS plan could offer cheaper and faster transactions. Those benefits could be enough to lure emerging economies, suggesting the plan has real potential. Western officials warn it could be designed to evade sanctions.”

Some are frustrated by the unintended role of the Bank for International Settlements, a Swiss-based organization known as the central bank for central banks.

America’s dominance of the global financial system has been a cornerstone of the post-World War II order, reflecting its economic and military heft but also the fact that dollar-denominated assets such as U.S. Treasury bonds are safe from government seizure and inflation, and easy to buy and sell.

 Although central banks have diversified their holdings, including in gold, about 58 percent of foreign-exchange reserves are held in dollars, and the dollar’s ​​network effects put U.S. banks at the center of global payments systems.

Sending money around the world is a bit like taking a long flight; if there is no direct connection between two airports, passengers will need to change flights, ideally at a busy hub where many other flights connect. In the world of international payments, the biggest hub is America, where many global banks exchange foreign currencies from those paying in dollars and then into the currencies in which the payments are received.

The centrality of the dollar provides what scholars Henry Farrell and Abraham Newman call “panopticon effects” and “choke points.” Because almost all banks that transact in dollars must do so through a correspondent bank in America, it is able to monitor flows for signs of terrorist financing and sanctions evasion, giving America’s leaders a tremendous lever of power—leverage they have been eager to use as an alternative to going to war.

The number of people under U.S. sanctions has risen by more than 900% (to about 9,400) in the two decades to 2021. America has demanded that some foreign banks disconnect from SWIFT, a Belgium-based messaging system used by about 11,000 banks in 200 countries to transfer money across borders. In 2018, SWIFT cut off Iran.

But all this pales in comparison to the ferocity of the financial assault on Russia after its invasion of Ukraine in 2022. The West has frozen $282 billion in Russian assets held abroad, disconnected Russian banks from the SWIFT system, and barred them from processing payments through US banks. America has threatened “secondary sanctions” on banks in other countries that support the Russian war effort.

Even European policymakers, who support the sanctions, were appalled by the speed with which Visa and Mastercard – two US companies on which the eurozone relies for retail payments – closed their doors in Russia.

The tsunami that hit Russia has prompted America’s adversaries to accelerate their efforts to move away from the dollar, and has prompted many other governments to consider their dependence on American financing. China sees this dependence as one of its greatest weaknesses.

Putin hopes to capitalize on this discontent with the dollar at the BRICS summit. For him, creating a new plan is an urgent practical priority as well as a geopolitical strategy. Russia’s foreign-exchange markets now deal almost exclusively in yuan, but because it can’t get enough of the currency to pay for all its imports, it has resorted to barter.

In October, Russia agreed to buy tangerines from Pakistan in exchange for chickpeas and lentils. These liquidity pressures are reportedly increasing.

Putin hopes to make life outside the American system more bearable by laying some of his own financial foundations. BRICS officials have held a series of meetings ahead of the Kazan summit. They discussed creating a credit rating agency to rival the major Western agencies, which Russia sees as “vulnerable to politicization.”

 They also discussed creating a reinsurance company to avoid Western agencies, which are barred from reinsuring some tankers carrying Russian oil, and a payment system to replace Visa and MasterCard. Putin has pushed for a common BRICS currency to price trade, based on a basket of gold and other non-dollar currencies, but Indian officials have objected in recent weeks.

The most serious initiative of all is a plan to use digital money backed by fiat currencies. This would put central banks, rather than correspondent banks with access to the US dollar clearing system, at the center of cross-border transactions.

By decentralizing the financial system, the proposal would mean that no country could cut itself off from another.  And since commercial banks would transact through their central banks, they would not need to maintain bilateral relationships with foreign banks, avoiding the network effects of the current correspondent banking system.

The BRICS Bridge plan was outlined in a report by the Russian Finance Ministry and Central Bank in October. The 48-page report is critical of Western finance and states that “a new multinational platform for cross-border settlement purposes needs closer examination because of its novelty, associated risks, and potentially game-changing economics.”

With its focus on central bank-operated digital currencies, it appears to be inspired at least in part by an experimental payments platform called mBridge, which the Bank for International Settlements has developed alongside the central banks of China, Hong Kong, Thailand, and the United Arab Emirates. Chinese state media says the new BRICS plan “is likely to draw on lessons learned” from the BIS’s mBridge project.

The BIS experiment was innocently designed and began in 2019, before the full-scale Russian invasion. It has been a stunning success, according to several people involved in the project. It could cut transaction times from days to seconds and transaction costs to virtually zero.

In June, the BIS said mBridge had reached the “minimum viable product” stage and the Saudi central bank joined as a fifth partner in the scheme. Some 31 other members are observers.

By creating a system that could be more efficient than the current one — and that would undermine the dollar’s ​​dominance — the BIS has inadvertently stepped into a geopolitical minefield.

“If someone is transacting outside the dollar system for political reasons, you want it to be more expensive for them than in the dollar system,” says Jay Shambaugh, a senior Treasury official. According to the Federal Reserve, the efficiency gains brought by new types of digital money could erode the use of the dollar in cross-border trade. In turn, they could strengthen China’s currency.

Speaking to bankers and officials about mBridge in September, a Hong Kong official said it “provides another opportunity to allow easier use of the renminbi in cross-border payments, and Hong Kong as an offshore hub will benefit.”

Could mBridge’s concepts and code be replicated by the BRICS, China or Russia? The BIS certainly views mBridge as a joint venture and believes it has the final say on who can join.

However, some Western officials say that participants in the mBridge experiment may be able to pass on the intellectual capital involved to others, including BRICS Bridge participants. China has taken the lead on the software and code behind the mBridge project, according to multiple sources.

The People’s Bank of China, the central bank, leads the project’s technology subcommittee, and its digital ledger was “built by” the PBOC, according to comments made by a BIS official in 2023.

Perhaps that technology and know-how could be used to build a parallel system beyond the reach of the BIS or its Western members. The BIS declined to comment on any similarities between its experiment and Mr. Putin’s plan.

The BRICS’s entry into the payments race highlights the new geopolitical challenges facing multilateral organizations. At the 2020 G20 meeting of major economies, the Bank for International Settlements was tasked with improving the current system and, at China’s urging, experimenting with digital currencies.

Earlier this year, the bank’s president, Augustin Carstens, called for “entirely new structures” and a “radical rethinking of the financial system.”

But with competing goals for different members of the organization, staying above the fray has become more difficult. Cecilia Skingsley, head of the BIS’s innovation center, acknowledges that the world has become more difficult to navigate.

But she says it still has a role to play in solving problems for all countries “almost independently of whatever other agendas they may have.”

One option for the US and its allies is to try to block new payment systems that compete with the dollar. Western officials have warned the Bank for International Settlements that the project could be abused by countries with malign motives.

The BIS has since slowed its work on MBridge, according to some former employees and advisers, and is unlikely to accept any new members. Another option is to improve the existing dollar system so that it is as efficient as new competitors.

The US is already gearing up to compete. In April, the Federal Reserve Bank of New York joined six other central banks in a BIS project aimed at making the current system faster and cheaper. The Fed might also link its domestic instant payments system with those in other countries.

Tom Schacz, Swift’s head of innovation, said this month that it plans to conduct experiments with digital transactions next year, taking advantage of some of its existing advantages, including strong network effects and trust.

But any rival BRICS payments system would face enormous challenges. Liquidity would be difficult to ensure or would require massive implicit government subsidies.

If the underlying flows of capital and trade between two countries were unbalanced, as they often are, they would be forced to pool assets or liabilities in each other’s currencies, which could be unattractive. Indeed, distrust of China runs deep in India, a key BRICS member.

To scale up a digital currency system, countries would need to agree on complex rules governing settlements and financial crime. Such a consensus is unlikely to win in Kazan.

But despite all this, the BRICS plan may be gaining momentum. There is widespread consensus that the current cross-border payments system is too slow and expensive. While rich countries tend to focus on making it faster, many others want to overturn the current system entirely.

The Atlantic Council, a think tank, estimates that at least 134 central banks are experimenting with digital money, mostly for domestic purposes. The number of banks operating such currencies for cross-border transactions has doubled to 13 since Russia invaded Ukraine.

This week’s BRICS summit is no Bretton Woods. All Russia and its allies have to do is move a relatively small number of sanctions-related transactions out of America’s reach. Still, many countries are aiming higher.

Next year’s BRICS summit will be held in Brazil, chaired by its president, Luiz Inácio Lula da Silva, who has been vocal about the strength of the dollar. “Every night I ask myself why all countries should base their trade on the dollar,” he said last year. “Who decided?” ■

https://economy-news.net/content.php?id=49002

Some “BRICS News” 10-22-2024

Jp Cortez: BRICS Aren’t The Only Ones Turning To Gold

Arcadia Economics:  10-22-2024

While the BRICS Summit is finally underway today, they're not the only significant group that has been increasingly looking towards gold lately.

It's actually been happening in the states too. Where favorable precious metals legislation has been getting passed by the majority of the states, while the legislators that are signing it often cite the same underlying reasons that the BRICS countries do.

One of the people moving that effort forward is Jp Cortez of The Sound Money Defense League, and today he joins me on the show to give an update of what's happening with the states, and the impact it's having.

To find out more, click to watch the video now!

https://www.youtube.com/watch?v=7sIS6b-fpcc

BRICS Demo BRICS-Pay, Mention ‘Unit’ is Under Discussion

Arcadia Economics:  10-21-2024

As the world gears up for the much-anticipated BRICS summit, excitement is palpable, especially with the recent announcements surrounding the BRICS-Pay card system and the emergence of discussions about a potential common currency called the ‘Unit.’

With the BRICS (Brazil, Russia, India, China, and South Africa) bloc’s aim to bolster economic collaboration among emerging markets, these developments could mark a significant shift in the global financial landscape.

Last week, BRICS member nations demonstrated their BRICS-Pay card system, which aims to facilitate smoother transactions between member countries and enhance trade efficiency.

Designed as a digital payment platform, BRICS-Pay seeks to provide an alternative to Western-dominated financial systems, enabling member states to conduct trade and transactions in their local currencies.

The demonstration showcased the card’s user-friendly interface and its capacity to process transactions securely and swiftly. This initiative is particularly aimed at reducing dependency on the US dollar and combating the volatility and limitations of existing financial systems.

During the demo, the BRICS-Pay website unveiled a note discussing the potential introduction of a common currency referred to as the ‘Unit.’ This intriguing concept has sparked debates about the feasibility and implications of a shared currency among BRICS nations.

While specifics regarding the currency’s structure remain scarce, the idea is to further integrate the economies of BRICS members and strengthen geopolitical ties in the face of an evolving global economy.

For many, the notion of a BRICS currency may seem speculative, but there have been growing calls among member states to address the imbalance caused by traditional financial systems.

As countries grapple with the repercussions of sanctions and trade disputes, a common currency could serve as a buffer against external pressures.

As the summit unfolds, it’s essential to pay attention to how these developments might impact the global economy. The BRICS nations have long sought to challenge Western hegemony; the advancement of the BRICS-Pay card and the discussions around the ‘Unit’ symbolize a new chapter in the quest for economic sovereignty.

In a world increasingly uncertain and fragmented, the rise of alternative financial systems represents not only an opportunity for the BRICS nations but also a potential reshaping of international economic norms.

As we await the outcomes of this summit, anticipation continues to build around whether these initiatives can pave the way for more significant changes in the global financial architecture.

https://youtu.be/aAO32OAH_zw

“Tidbits From TNT” Tuesday 10-22-2024

TNT:

Tishwash:  US Ambassador discusses with Oil Minister reopening Iraq-Türkiye pipeline

US Ambassador Alina Romansky discussed with Oil Minister Hayan Abdul-Ghani the reopening of the Iraq-Turkey pipeline today, Friday.

The ambassador said in a tweet followed by /Al-Youm Al-Akhbariya/, "I was pleased to visit Oil Minister Hayan Abdul-Ghani Al-Sawad to check on his health.

We also talked about increasing investments by US energy companies to help meet Iraq's energy needs, including how reopening the Iraq-Turkey pipeline will contribute to strengthening the comprehensive US-Iraqi partnership and creating investment opportunities."  link

Tishwash:  Banking Reform Methodology at the Central Bank (2016-2026)

The steps of banking reform that the Central Bank has been taking since 2016 began when Mr. Ali Mohsen Al-Alaq was appointed Governor of the Central Bank of Iraq on 9/9/2014, which is a difficult and complex stage in Iraq's security and economic history.

 Iraq was facing security and economic shocks due to the occupation of 40% of the country's territory by the terrorist ISIS and the global drop in oil prices in June 2014 by 75%. He was reassigned again on 1/23/2023 after the emergence of new crises and challenges at the economic, financial and banking levels, focusing on the lack of control over the unprecedented rise in the US dollar exchange rate and the rise in the annual inflation rate to (7.5%) in January 2023.

The Central Bank worked from 2016 to 2020 to address the effects of the economic and security shocks, the most prominent of which was the government's inability to pay employees' salaries on time.

The Central Bank was able to use its foreign exchange reserves and the method of rediscounting treasury transfers from government support in the amount of 16 trillion dinars, and the crisis was overcome at the time. In 2015, in light of these difficult economic conditions, the Central Bank began to move to develop its plans for the coming years and draw up a methodology for banking reform and structural, technical and administrative development of the Central Bank.

This resulted in the issuance of its first strategy for the years (2016-2020), which included 5 main objectives and 140 sub-objectives, 129 of which were achieved, at a rate of 92%, during the years of implementing the strategy.

It contributed to establishing the basic structures and pillars for moving to a new stage of financial and banking reform, accompanied by the strategic banking projects plan for the years (2019-2023) and the issuance of the second strategy (2021-2023) to complete the achievement of the sub-objectives that could not be implemented in the first strategy, numbering (11) sub-objectives, during which the government continued to resort to the Central Bank and obtain (30) trillion dinars, and the total amount owed by the government became (46) trillion dinars.  

During the second term of the Governor, which began in 2023, the Central Bank worked on studying the achievements of the two previous strategies and diagnosing the foundations of the desired reform.

The efforts to prepare the third strategy continued throughout 2023, and the foundations and foundations were built to set the goals for this new strategy for the years (2024-2026), which derived its main and sub-goals from the state's general economic policies and its strategy for financial and banking reform adopted by the government in the government program and from Central Bank Law No. 56 of 2004. It included programs with clear goals and initiatives for a period of three years in a special, complex economic and financial circumstance fraught with risks and challenges at the level of internal and external economic and financial relations.

The third strategy identified the main goals with 7 goals, 24 sub-goals and 75 initiatives to achieve the main and sub-goals, and charted the path for banking and financial reform

according to the following strategic goals: -
1- Supporting and enhancing monetary stability.
 2- Enhancing digital transformation, activating electronic payment and supporting cyber security.
3- Enhancing financial inclusion .
4- Maintaining a sound financial system.
5- Developing the organizational structure and developing human resources capabilities.
 6- Enhancing the position of the Central Bank locally and internationally.

7- Enhancing compliance of the banking sector and the non-banking institutions sector in line with international standards.
 Programs, policies and initiatives have been identified to achieve the goals, and perhaps the most prominent program is the launch of the National Strategy for Bank Lending in Iraq (2024-2029) and the approval of the Council of Ministers to implement it, which will restructure banking financing in Iraq in addition to leaving the electronic platform and adopting correspondent banks in foreign transfers, protecting the financial system, enhancing financial inclusion, managing monetary and financial stability, developing oversight and supervision, developing regulation in the banking sector, completing the development of the infrastructure for digital transformation, licensing digital banks, implementing regulatory policies in the Central Bank in accordance with the frameworks and technologies adopted in global central banks, raising the capabilities of human resources, developing banking operations, strengthening the bank's internal and external relations, and representing it locally and internationally.

What has been presented for the ten years of the financial and banking reform process confirms that the next two years will inevitably result in the transition to comprehensive and radical reform of the Iraqi banking sector and its transformation into a solid sector that contributes to sustainable development  link

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

Tishwash:  Al-Sudani: Investment opportunities exceeded $100 billion and industrial cities were established in Baghdad

Prime Minister Mohammed Shia Al-Sudani held a meeting today, Monday, with the Chairman of the Egyptian Al-Suwaidi Group of Companies, Ahmed Al-Suwaidi, and a group of directors of Egyptian industrial and commercial companies, in the presence of a number of advisors to the Prime Minister.

 During the meeting, Al-Sudani pointed out the expansion of economic cooperation between Iraq and Egypt, especially in partnerships with the Egyptian private sector, stressing that the investment opportunities offered in Iraq, which were received from Arab and foreign companies, exceeded 100 billion dollars, and they reveal the breadth of economic growth at all levels and fields.

The Prime Minister discussed with the Egyptian delegation the study of the economic and financial model of the group in work, and cooperation in the sectors of industry, education, energy, and infrastructure. It also included discussing investment opportunities and partnership in the sector of maximizing petroleum resources, localizing the electrical transformer industry, smart meters that are linked to the electrical grid, and the carbon iron and steel industry.

It was agreed to study the establishment of industrial cities in Baghdad, as the group presented a map of projects that will be studied by the Advisory Board and sectoral bodies.   link

Mot . Still Time to get the Word OUt!!! 

Mot:... Guess What!!! 

“Coffee With MarkZ” Tuesday Morning Chat 10-22-2024

Tuesday Morning Chat With MarkZ

MarkZ  Update- Some highlights by PDK-Not verbatim

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

Member: Good Morning Mark, Mods and Members

Member: It's going to be a Fabulous Week my friends.

Member: Any big news today Mark?

MZ:  I’m not expecting big news this week until Wednesday

(From Monday Night)

MZ: In Iraq” Parliamentary Finance sets the date for the 2025 budget to reach parliament”  Very early next year.  This is curious to me but think they may be avoiding releasing it until after they have the rate change and exchanges…..so strangely enough this fits in very well to what I am hearing. That they need to get the rate change done soon.  They need to change rates and do everything they need to do before approving that budget.

MZ: “Iraq Trade Bank opens a new branch in Baghdad”   The Iraqi Trade Bank ‘s goal is to expand into other incomes outside of oil revenue…and loans for those businesses. This is part of the deep commitment Iraq has given to diversify its economy so it can justify a higher rate. It’s all in their white papers.

(From Tuesday Morning)

Member: BRICS Summit is starting today…….Hope something big comes from it.

Member: Mark, Can you explain about Wise accounts? Someone suggested moving all your money out of a bank and into a Wise account. I thought our accounts were supposed to be mirrored in the QFS??

MZ: Many people believe our accounts are mirrored in the QFS. But, we do not know for absolute certainty. Have you seen any rock solid, provable proof?  I havn’t. But I believe they are. That being said- A wise account is like having a multi-currency account.

MZ: From Iraq  “ the Central Bank of Iraq agrees to exchange the activity of the Commercial Bank of Iraq”  They are changing to Islamic. What does that mean? 

Member: Islamic law refers to Sharia law, based on the Koran

​​Member: Islamic banks have much lower interest rates on cards and loans.

MZ: Or does this mean they are separating themselves from the US and go their own way using BRICS as a backbone? I am curious what you think?

MZ: “Dollar falls slightly in Baghdad Stock Exchange and exchange” This is showing us stronger stability  which is something Dr. Shabibi wanted before a new value.

MZ: I did get some positive news from a couple of Indian Nation contacts here in the US.  Indian Nations are due historic settlements and fines and penalties. It will be a pretty hefty pay out for the indian Nations. And they are part of the end of tier 3 , so when their funds are moving…we are about to get our announcements. Suddenly we are being told they are expecting that to move in the very near future. I will not give dates on that and chance getting them or me in trouble.

Member: MarkZ does the congress have to vote on nesara in order for it to go through??

Member: Sure hope Zim exchange will be real…..wouldn't it be something if ZIM was the "sleeper"

Member: There are so many rumors, so much disinformation from so called “gurus”. People are losing hope.

Member: Be careful when you follow the masses; sometimes the M is silent.

Member: Come on RV GCR …..Lord, we are ready! Strengthen our resolve to help make this the world you wanted for us! Lift us up & bless your faithful to go out & be beautiful examples of Your unconditional LOVE

Member:  Let no feeling of discouragement prey upon you, and in the end you are sure to succeed.

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.

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

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

Iraq News Highlights and Points To Ponder Tuesday AM 10-22-24

Parliamentary Finance: 2025 Budget Expected To Reach Parliament Early Next Year

Economy  - 2024-10-21  The head of the Parliamentary Finance Committee, Atwan Al-Atwani, confirmed today, Monday, that the government has begun meetings to restructure the items of the 2025 budget, while he expected it to reach the House of Representatives early next year.

He pointed out that the Finance Committee discussed the public financial management project with a delegation from the Adam Smith International Foundation.

The media office of the head of the committee stated in a statement that "the head of the Finance Committee, Atwan Al-Atwani, received a delegation from the Adam Smith International Foundation at the headquarters of the Finance Committee, to discuss the public financial management project prepared by the international institution to help reform the tax and customs sectors, public debt management and the Development Fund."

He added that "Al-Atwani reviewed before the delegation, in the presence of the economic advisor to the British Embassy, ​​the most important challenges facing the financial system in Iraq, as well as the steps and priorities of the Finance Committee within the framework of finding a correct philosophy and rational management of public money and the economy by diversifying sources of income and not relying excessively on oil to feed the state budget."

Al-Atwani said, according to the statement, that "the parliamentary finance committee, as part of its ongoing efforts and continuous efforts to maximize non-oil revenues, is currently working on amending the law of the General Authority for Monitoring the Allocation of Federal Revenues, so that it can play its role in evaluating, monitoring and collecting these revenues in a sound and regular manner, in addition to including a new task in the law related to evaluating the performance of the budget and expenditures."

He added that "the committee is conducting an in-depth study of the Stock and Commodities Market Law, which it intends to legislate during the coming period, and is holding specialized workshops in order to encourage Islamic banks to enter into banking and financial activity."

He pointed out that "the finance committee is working on a number of proposed laws that aim to regulate financial management, including the proposed law on investment in Islamic bonds, and the proposed law on the Center for Banking Studies."

Regarding the 2025 budget, Al-Atwani estimated that it would reach the House of Representatives early next year, indicating that "the government has begun meetings to restructure the budget items."

He noted that "the oil dispute with the Kurdistan Region is one of the most prominent problems facing the preparation of next year's budget," referring to "the committee's efforts and efforts to resolve the dispute between Baghdad and Erbil, through meetings with representatives of the regional government and the federal government.

The points of contention have been identified and diagnosed by the committee, and the legal and constitutional path to overcome them has been determined; as we hope to reach a final agreement in the next stage, in order to resume the export of the region's oil, in a way that ensures the enhancement of the state's resources." In

 turn, the institution's delegation confirmed its interest and keenness to support the financial system in Iraq, through a long-term strategy, specialized training and consultations to develop Iraqi systems and legislation.   https://kirkuktv.net/AR/Details/22785

Western Report: Iraq's Financial Situation Is Strong And It Is Working According To A Transitional Development Approach

 Politics  Baghdad-Mil    A Western report praised the developments taking place in Iraq, noting that it is in a strong financial position and its government is working according to a transitional approach that links humanitarian work with development.

According to the report, which was published by the "Really Vibe" website and translated by "Mill", "Iraq is largely going through a transitional phase from a humanitarian response to a more development-oriented approach."

He added, "The Iraqi government has developed a national plan on internal displacement and launched a sustainable development programme in cooperation with the United Nations.

The report confirms that "the Iraqi government is now in a much stronger financial position, given its ability to generate capital from its oil reserves, and the country has a transitional document linking humanitarian work and development programmes."  https://miliq.news/political/37518--.html#hathalyoum

Parliamentary Finance Committee Talks About Non-Oil Revenues In The Budget And Directs An Invitation To The Government

 Policy  2024-10-22 | Sumerian News – Politics  The Finance Committee in the House of Representatives called on the government to expedite the preparation of next year's budget according to the specified timetable. While discussing Chairman of the Committee Atwan Al-Atwani with the delegation of the Adam Smith International Foundation group Of the laws related to the development of the financial and banking system.

Member of the Finance Committee, Mustafa Al-Karawi, stated that “the current year’s budget stipulated the necessity of providing Parliament In the financial schedule before the end of the fiscal year, and any delay in that will cause a delay in the start of implementing the budget and its schedules,” noting that “the non-oil revenues targeted in the budget are estimated at 27 trillion dinars, while what has been achieved so far does not exceed 8 trillion dinars only,” he said.

Al-Karawi added that "the Ministry of Finance indicated the possibility of collecting 3 trillion dinars per month during the coming period, and that the Finance Committee called on the government to enhance non-oil revenues and ensure the achievement of financial targets to avoid any economic imbalances."

The MP stressed that "the committee is closely following up on how the budget funds are distributed, to ensure that they are used effectively to serve citizens and enhance the national economy."Pointing“It discusses from time to time ways to increase government revenues by developing the tax and customs system,” the MP noted.

“There is a government plan that relies on automating and modernizing the work systems in these institutions, and it is expected that its implementation will be completed by the end of this year, which will contribute to enhancing revenues and ensuring better efficiency in collecting them,” according to the official Al-Sabah newspaper.

In addition, he reviewedChairman of the CommitteeFinance, Atwan Al-Atwani, yesterday, Monday, with a delegation from the Adam Smith International Foundation, projectslawsThe mission includes the Securities and Commodities Law, the Banking Studies Center Law, and the Islamic Sukuk Investment Law, with the necessary amendments, noting that these laws will be read in the upcoming sessions.

 Al-Atwani also reviewed before the delegation the most important challenges facing the financial system in Iraq, as well as the steps and priorities of the Finance Committee within the framework of finding a correct philosophy and rational management of public money and the economy through diversifying sources of income and not relying excessively on oil to feed the state budget,

stressing that the Parliamentary Finance Committee, within the framework of its permanent movement and continuous efforts to maximize non-oil revenues, is currently working on amending the law of the General Authority for Monitoring the Allocation of Federal Revenues.  LINK

Seeds of Wisdom RV and Economic Updates Tuesday Morning 10-22-24

Good Morning Dinar Recaps,

G20 REPORT ON TOKENIZATION OUTLINES HOW CENTRAL BANKS LIKELY TO ENGAGE

The Bank for International Settlements (BIS) has been pretty supportive of tokenization, promoting the idea of the Unified Ledger where tokenized assets can be settled with tokenized money. 

Today the BIS and Committee on Payments and Market Infrastructures (CPMI) released a report for the G20 which takes an upbeat but sober view on tokenization, highlighting both the opportunities and the risks, as well as the role of central banks.

On the opportunity front, the stand out benefit is seen as the ability for a single platform to support functions that have been traditionally split (such as pre and post trade) as well as multiple types of assets and different parties.

That reduces many frictions and costs, enabling transactions that previously weren’t possible. Plus the support for delivery versus payment (simultaneous exchange of the asset and money) helps with risk reduction.

It also steps through many potential risks beyond the conventional ones. In the early stages, as tokenization matures, there is some legal uncertainty as regulations get clarified.

The paper raised an interesting legal risk: In the United States, if a company goes bankrupt, its assets are frozen. However, that’s not the case regarding repurchase agreements (repos), which usually involve a company providing collateral in exchange for cash. The BIS notes that this advantage “may not extend to tokenised versions of repo transactions.”

Meanwhile, the authors highlight that more complex platforms which support multiple issuers and assets are likely to be more expensive to build. On the other hand, it’s less expensive to develop a single issuer or asset platform, but more likely to create siloed data which defeats the object of tokenization.

The role of central bankers
This potential proliferation of siloed systems and fragmentation highlights the need for central banks. Central banks can step in to coordinate efforts.

Plus, given the propensity for payments and network effects, there’s a risk that a lack of competition between tokens could result in a “winner takes most” situation. That could mean the benefits of tokenization translate to higher profits rather than lower costs for end users. Central banks want end users to benefit from the potential economies of scale that a large platform could enable.

A second consideration is the role of the central bank in providing central bank money for the settlement of tokenized assets. The paper considers various options, including integrating existing payment systems and providing tokenized central bank money (wholesale CBDC) on a central bank platform or third party platforms. While tokenized deposits are moving forward, the BIS is concerned about the potential proliferation of stablecoins for settlement.

Third, is the potential need to monitor these new platforms. They want to assess which ones fall into similar a classification to traditional Financial Market Infrastructures (FMIs).

Finally, there’s the impact on monetary policy. For example, the use of tokenized deposits or a wholesale CBDC could change the balance between public and private money. If tokenization ends up fragmenting money, then this could affect the implementation of monetary policy.

The road ahead
“Tokenisation has significant potential to improve the safety and efficiency of the financial system,” Agustín Carstens, General Manager of the BIS.

”Central banks along with the private sector must continue to explore novel technologies and develop solutions that are fit for purpose for the future financial system.

However, tokenisation also poses economic, legal and technical challenges that must be addressed if it is to fulfil its potential.  The BIS is committed to exploring aspects of these challenges through its analysis and Innovation Hub projects in the years ahead.”

@ Newshounds News™

Source:  Ledger Insights

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JAPAN'S DPP LEADER PLEDGES 20% TAX CAP ON CRYPTO GAINS IN POLICY PITCH FOR UPCOMING ELECTION

▪️The leader of Japan’s Democratic Party for the People has included the reduction of taxes on crypto gains as part of the party’s policy statement.

▪️Japan currently imposes taxes of up to 55% on crypto gains as cryptocurrency is classified as miscellaneous income.

Yuichiro Tamaki, the leader of Japan’s Democratic Party for the People (DPP), has proposed a plan to reduce the tax on crypto gains to 20% as part of his policy statement for the upcoming general election.

“If you believe that cryptocurrency should be taxed at a flat 20% rate, instead of being treated as miscellaneous income, please vote for the Democratic Party for the People. We also propose no taxes on cryptocurrency-to-cryptocurrency exchanges,” Tamaki wrote on X on Sunday.

In a policy statement, the party suggests a 20% separate self-assessed tax and proposes exempting taxes on cryptocurrency exchanges, raising the leverage limit from 2x to 10x, and introducing crypto ETFs. Tamaki also wrote in an X post in July that Japan should “aim to become a major cryptocurrency nation through deregulation and tax reform.”

“With the leverage ratio for retail investors limited to 2x, there is little incentive for speculators to enter the market,” Daiki Moriyama, director of Japan- and Singapore-based gaming blockchain builder Oasys, told The Block.

Japan currently imposes taxes of up to 55% on crypto gains, as cryptocurrency is classified as miscellaneous income. In December, the government approved a tax regime revision that seeks to exclude corporations from paying tax on unrealized crypto gains if they hold the assets longer-term.

“Cryptocurrency trading volumes in Japan remain extremely low,” Moriyama said. “Consequently, Japanese cryptocurrency exchanges, which rely mainly on trading fees as their primary source of revenue, are struggling to generate profits.”

Tamaki’s ambition to reform crypto taxes may still be far from becoming a reality. DPP currently holds seven seats in the House of Representatives, and Japan is set to hold a general election on Oct. 27 to fill its 465 lower house seats.

A survey conducted by the Asahi Shimbun, a major Japanese newspaper, showed that, in single-seat areas, the DPP may double its pre-election total of four seats. In the proportional representation category, DPP may increase its seats.

@ Newshounds News™

Source:  The Block  

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🌱WOW - FEDERAL RESERVE NOTE REMOVED FROM THE U.S. DEBT CLOCK - GLOBAL SHIFT? GOOD NEWS - WATCH  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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News, Rumors and Opinions Tuesday AM 10-22-2024

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 Tues. 22 Oct. 2024

Compiled Tues. 22 Oct. 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Mon. 21 Oct. 2024 CBD Gurus Bartel Rumor Only: A Bond Holder said the GCR would be released on Wed. 23 Oct., while another Bond Holder said they would be paid 50% on Tues. 22 Oct, but the GCR wouldn’t really be released for another ten days. An Iraqi Contact said the Dinar would be revalued on Tues. 22 Oct., while another Iraqi Contact said it would be revalued on Wed. 23 Oct. He said only the Dinar and Zim Bonds would revalue, while the other currencies would have to wait for another ten days to two weeks.

Mon. 21 Oct. 2024 Wolverine: “It’s coming this week. That’s all I’m allowed to say.”

Tues. 22 Oct. to Thurs. 24 Oct. BRICS Summit. The event in Kazan hosting 24 leaders, 32 countries will initiate a massive shift in macroeconomics through the arrival of its BRICS Pay system. The event is expected to be the largest foreign policy event ever held in Russia. That should be a massive moment for the global south and its continued efforts toward increased competition with the West. https://watcher.guru/news/who-will-attend-brics-summit-2024-key-leaders-confirmed https://www.dailynewsegypt.com/2024/10/13/brics-summit-in-kazan-to-host-24-leaders-32-countries

On Wed. 23 Oct. the White House will be engulfed with green lights. Green now seemed appropriate for this week with the anticipated BRICS announcement of a Global Currency Reset and activation of NESARA/GESARA for The People. …The 17th Letter (JFK Jr.) on Telegram

Mon. 21 Oct. 2024: BOOOM!! JAPAN TO BEGIN USING XRP FOR ALL PAYMENTS WORLDWIDE – A GLOBAL GAME CHANGER! – amg-news.com – American Media Group

Mon. 21 Oct. 2024: QFS Information Center: Quantum Financial System and the Tier 4B Internet Group! The World of Currency Revaluation, Redemption Centres, and NESARA GESARA Payments! – amg-news.com – American Media Group

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Global Financial Crisis:

Mon. 21 Oct. 2024 Dutch Central Bank prepares for a new monetary system. https://www.thegoldobserver.com/p/dutch-central-bank-admits-it-has

Mon. 21 Oct. 2024 Since the earliest days of America until 1971, the country had used the “gold standard” for money. Under this system, U.S. currency was backed by physical gold, much of which kept in a heavily guarded location in Fort Knox, Kentucky. This was intended to keep the price of money relatively standard and prevent runaway inflation, i.e. one dollar equals _x _grams of gold. …American Patriot on Telegram https://www.govtrack.us/congress/bills/115/hr5404

Red full post here:  https://dinarchronicles.com/2024/10/22/restored-republic-via-a-gcr-update-as-of-october-22-2024/

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

Frank26   [Iraq boots-on-the-ground report]  FIREFLY:  TV says the recommendations for Ernst and Young about banking reforms will be approved by the council of Ministers to proceed with the banking reforms.  FRANK:  Ernst and Young are playing a very important part in the Monetary Reform process with the CBI and United States Treasury.  Their involvement is very deep.  To see this report from them once again tells me we are running out of time...

Sandy Ingram   Here's why joining the World Trade Organization is so important.  The WTO can open the door to new business opportunities, attract more investments, and create jobs.  It's a major step towards boosting Iraq's economy and connecting with the world.  Iraq's Trade Minister...just announced Iraq is back at the negotiating table working towards becoming a member of the WTO... [I'll] keep you updated on Iraq's WTO progress...

BRICS PAY CARD Is Here: Successfully Tested & Launched! | What's Next?

MoneyTM:  10-22-2024

The BRICS PAY CARD has officially launched and it's set to revolutionize the global financial system!  In this video, we'll break down everything you need to know about this groundbreaking payment solution from BRICS nations.

Learn how it challenges the dominance of traditional currencies, what it means for international trade, and why it’s a game-changer for global finance!

https://www.youtube.com/watch?v=z6J1bNDZShk

BRICS News : TRIPLE Growth in UAE/ Russia Trade as Focus Shifts Towards "Strategic" Partnership

Lena Petrova/ World affairs in context:  10-22-2024

https://www.youtube.com/watch?v=fplDNVo85dI

MM&C News Reporting-Iraq Dinar Update-Banking Reforms-Completion Development-Digital Infrastructure

MM&C News Reporting-Iraq Dinar Update-Banking Reforms-Completion Development-Digital Infrastructure

MilitiaMan:  10-21-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=NU6eu_YzilA

Iraq News Highlights and Points To Ponder Monday Evening 10-21-24

"Serious Repercussions" .. Iraq's Internal Debts Rise At A Rate Of One Trillion Dinars Per Month

Published on: October 21, 2024: Exclusive/Al-Mada  Iraq has recently witnessed a significant increase in its internal debts, recording an increase of one trillion dinars per month, which raises widespread concern among citizens and economic analysts.

This increase comes at a time when the country is suffering from multiple economic challenges, including weak economic growth and increasing unemployment rates.

As the financial crisis worsens, economists expect the growing public debt to have negative effects on citizens’ standard of living, including a decline in public services and higher prices.

Under these circumstances, there is an urgent need to develop effective strategies to manage debt and ensure financial stability in the country.

The economic expert, Nabil Al-Marsoumi, announced in a post on his personal accounts, followed by (Al-Mada), that "according to the data published on the website of the Central Bank of Iraq, the total domestic public debt in Iraq increased from 70 trillion dinars in January 2024 to 80 trillion dinars in October 2024. The rate of increase in the debt reached 1 trillion dinars per month, representing a growth rate of up to 14%."

He added, "This growth in the domestic debt reflects the existence of an actual deficit in the 2024 budget, as part of this deficit was covered through domestic borrowing, deducting remittances, and issuing bonds," noting that "the government's three-year budget law in 2024 has provided the possibility of obtaining 5 trillion dinars through remittances deducted from the legal reserve of government banks, in addition to borrowing 3 trillion dinars from these banks."

The government's measures also included issuing national bonds worth 5 trillion dinars and deducting treasury transfers at the Central Bank of Iraq worth 20 trillion dinars.

The economic expert continues, "This increase in domestic debt in light of the economic challenges facing Iraq requires effective strategies to manage public debt and achieve sustainable financial stability."

For his part, economic affairs expert Taha Al-Janabi said in an interview with Al-Mada that “the increase in Iraq’s internal debts by a rate of one trillion dinars per month could have major negative effects on citizens and the economy in general.”

He added, "With the rise in public debt, the government may have to impose new taxes or increase existing taxes to compensate for the deficit, which will reduce the disposable income of citizens."

He explained that "focusing on debt repayment could lead to reduced spending on basic services such as health, education and infrastructure, which negatively affects the quality of life."

Al-Janabi explained that, "to finance the debt, the government may have to print more money, which may lead to higher inflation rates and higher prices, and thus a loss of purchasing power for citizens."

He stressed that "if public debt continues to rise without a clear plan to manage it, this could lead to a loss of confidence in the government and economic systems, which could lead to social unrest."

He explained that "the increasing debt may lead to future generations being burdened with paying off these debts, which will affect their economic future."

The economic expert continued, "Addressing these issues requires effective economic strategies from the government, including improving the management of public funds, increasing spending efficiency, and developing various economic sectors."

https://almadapaper.net/381682/#hathalyoum

Economist Reveals Actual Deficit In 2024 Budget

Money and business   Economy News – Baghdad Economic expert Nabil Al-Marsoumi confirmed that there is an actual deficit in the 2024 budget, part of which was covered through domestic borrowing, deducting remittances, and issuing bonds.

According to the Central Bank data, the total domestic public debt in Iraq increased from 70 trillion dinars in January 2024 to 80 trillion dinars in October 2024, at a rate of one trillion dinars per month and a growth rate of 14%, which means that there is an actual deficit in the 2024 budget.

The government’s three-year budget in 2024 allowed for obtaining 5 trillion dinars through transfers deducted from the legal reserve of government banks and borrowing 3 trillion dinars from government banks, in addition to issuing national bonds worth 5 trillion dinars and deducting treasury transfers at the Central Bank of Iraq worth 20 trillion dinars. https://economy-news.net/content.php?id=48964

Parliament Reveals The Secrets Of 6 Qualitative Strikes Against Currency Counterfeiting Networks In Iraq - Urgent

Economy / Security |Today,  Baghdad Today - Baghdad    The Parliamentary Security and Defense Committee revealed, today, Monday (October 21, 2024), the secrets of 6 qualitative strikes against currency counterfeiting networks in Iraq.

Committee member MP Yasser Iskandar said in an interview with Baghdad Today, "Counterfeiting currencies, whether foreign or local, has serious repercussions on the economy. It drains people's savings and creates a state of mistrust, especially since counterfeiting operations have taken on a dimension of precision and professionalism because the networks involved in them cross borders, meaning that there are international mafias with multiple addresses."

He added, "The Ministry of Interior succeeded, through exceptional efforts, in directing 6 qualitative strikes against currency counterfeiting networks in Iraq during 2024, and contributed to the arrest of many of its leaders and the seizure of large sums of money that were on their way to marketing."

Iskandar pointed out that "counterfeiting crimes are low compared to previous years, in addition to awareness messages, which have begun to bear fruit through checking currencies and reporting counterfeit ones directly by stakeholders, whether banking or companies, reaching the ordinary citizen, and this reflects important awareness."

On Saturday (October 19, 2024), financial and economic expert Alaa Al-Fahd revealed the authorities responsible for protecting the Iraqi currency from counterfeiting and its spread in the markets.

Al-Fahd told Baghdad Today, "The mission of the Central Bank of Iraq is to issue currency and maintain monetary policy and coordination in this field. As for the issue of counterfeit currency, this is the responsibility of the specialized executive government agencies. The bank's goal when it issues its currency is to work on finding ways to protect this currency from counterfeiting, and this matter exists in all countries of the world."

He added that "the issue of gangs and currency counterfeiting mafias is not within the tasks and duties of the Central Bank to confront, even the issue of currency smuggling is not within the Bank's tasks," indicating that "these issues are the responsibility of the specialized executive government agencies, including the security agencies, and for this reason the Central Bank of Iraq always works to coordinate with those government agencies in order to preserve the Iraqi economy and currency."

The expert confirmed that "even the dollar is a counterfeit currency, not only in Iraq but in most countries of the world, and this is not the responsibility of the Central Bank of Iraq, but rather the responsibility of the specialized executive government agencies."   LINK

The Dollar Rises Again In The Iraqi Stock Exchanges

Economy  2024-10-21 | 2,224 views   SumerianNews – Economy  

Baghdad:  Selling price: 154,000   Buying price: 152,000

Erbil:  Selling price: 152,950   Buying price: 152,850

The Council of Ministers announced on February 7, 2022, the approval of amending the exchange rate DollarTo 1320 dinars per dollar.  LINK

Seeds of Wisdom RV and Economic Updates Monday Evening 10-21-24

Good Evening Dinar Recaps,

XRP NEWS: WHO IS THE SEC PROTECTING IN THE RIPPLE LAWSUIT?

In a recent interview, James Murphy, known as Metalawman, discussed the ongoing lawsuit involving the SEC and Ripple. He answered an important question: who exactly is the SEC defending in this case?

On The Good Morning Crypto Show, he was questioned whether the SEC is claiming to protect regular retail investors by targeting Ripple or if they are actually looking out for the institutional investors who got in early and profited significantly since 2014.

The SEC’s True Motives: Protecting Whom?
Murphy pointed out that while the SEC’s mission is to protect investors and promote orderly financial markets, the reality is different. 

The agency isn’t acting on behalf of retail XRP holders or the institutions that bought XRP at a discount. In fact, none of the institutions have ever sued Ripple for alleged securities violations because their investments have been profitable.

The legal expert argued that the SEC’s lawsuit should never have been initiated. He explained that the SEC has limited resources and should focus on cases with clear violations.

In the crypto space, where scams and fraudulent schemes abound, the SEC chose to pursue a case with no real damages or losses involved.

He also compared this situation to the case against Coinbase, a publicly traded company with transparent financial reporting, suggesting that the SEC is not helping anyone with these actions.

Murphy concluded that, without any losses suffered by victims, it would be impossible to return any funds, which raises questions about the validity of the case itself.

The Ripple Effect: Implications for XRP Holders
The legal battle between Ripple and the SEC continues, with both sides preparing for appeals. The SEC plans to challenge the district court’s findings, while Ripple intends to file a cross-appeal regarding the SEC’s claims. Despite ongoing regulatory challenges, XRP’s price has remained stable at around 54 cents.

@ Newshounds News™

Source:  CoinPedia

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STRIPE BUYS STABLECOIN PLATFORM BRIDGE IN RECORD-BREAKING $1.1B DEAL: REPORT

The deal highlights Stripe’s growing focus on crypto, following its recent integration of USDC and partnership with Coinbase’s Base network.

Fintech giant Stripe has finalized a deal to acquire stablecoin platform Bridge for $1.1 billion.

.

This purchase marks the largest acquisition in the crypto industry to date.

Record $1.1 Billion Deal
TechCrunch founder Michael Arrington revealed the news in a post on X, stating, “This deal is done. $1.1b.”

Bridge, co-founded by Sean Yu and Zach Abrams, provides software tools enabling businesses to accept payments in stablecoins. The platform allows companies to create, store, send, and receive such assets.

Zach Abrams previously served as Head of Consumer at Coinbase and founded the peer-to-peer payments company Evenly, which was later acquired by Square. Before co-founding Bridge, Sean Yu held key engineering roles at major companies such as Coinbase, Square, DoorDash, and Airbnb.

Earlier this year, the startup received $58 million in funding from prominent investors, including Sequoia, Haun Ventures, Ribbit, and Index Ventures. According to Forbes, this included a $40 million Series A funding round that valued the company at $200 million. It means that Stripe’s $1.1 billion acquisition is a major bump from Bridge’s previous worth.

Launched in August, the firm said in a statement that its mission is to address the financial challenges posed by local currencies in an interconnected global economy. Bridge aims to overcome these obstacles by leveraging stablecoins, which offer faster, more affordable, and accessible payment solutions.

Stripe’s Growing Crypto Focus
Stripe, a payment processing platform that enables businesses to accept credit, debit, and other online payments, has been aggressively expanding its presence in the cryptocurrency space.

Just six months ago, the co-founder John Collison announced that the company would start supporting global stablecoin payments. This materialized when it integrated Circle’s USD Coin (USDC) into its payment interface two weeks ago.

In June, the payment processing firm also partnered with Coinbase. This introduced three new features, including the integration of the exchange’s Base Layer 2 network into its crypto payment products.

Stripe has also integrated USDC on Base into its fiat-to-crypto onramp, allowing faster conversion of fiat funds to crypto for its U.S. customers. Coinbase also agreed to include Stripe as a payment option for customers buying digital assets through its Coinbase Wallet.

In March 2024, the company reported passing $1 trillion in total payment volume for the year, with businesses using the platform accounting for roughly 1% of global GDP.

@ Newshounds News™

Source:  CryptoPotato

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🌱 OKIE EXPLAINS 13303 AND WAS THERE. THIS IS YOUR HISTORY ALSO ON DINAR.   |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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🌱 FUNDRAISER FOR OKIE DETAILS BELOW  |  Youtube

We are sending Okie a care package with some good food. If you would like to donate, he appreciated it before and will again. He has only asked for prayers. Thank you for your kindness. Thank You for Your Kindness! Okie Donation Link and info

https://www.seedsofwisdomteam.com/#ok...

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

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Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

Some “Iraq News” Posted by Clare at KTFA 10-21-2024

KTFA:

Clare:  Iraqi Credit Bank achieves a profit of 20.4 billion dinars 

10/20/2024 Baghdad

The Iraqi Credit Bank achieved a net profit of 20.4 billion dinars since the beginning of the year until the third quarter. 

According to the bank's financial statements, revenues amounted to 26.4 billion dinars, achieving a growth of 38%, as they amounted to 19.1 billion dinars during the same period last year. 

The bank's assets increased to 524.8 billion dinars, but deposits decreased to 137.5 billion dinars after they were 150.6 billion dinars. 

The bank has retained earnings of 38.7 billion dinars, which have been accumulating for many years. LINK

Clare:  Al-Sari: The population census guarantees fair distribution of wealth and parliamentary representation of the governorates

10/21/2024

The head of the State Powers Bloc, MP Faleh Al Sari, stressed the importance of the census and population census in ensuring the fair distribution of wealth.

Al-Sari, accompanied by the Minister of Planning, Mohammed Tamim, visited the Population Census Operations Room to review the preparations for the general population census scheduled for November 20-21.

The workers in the operations room gave a detailed presentation of the work mechanisms and the achievement rates achieved in the numbering and enumeration operations at the level of each governorate, in addition to explaining how to conduct field follow-up for researchers throughout Iraq via geographic information systems, and mechanisms for sending data immediately.

For his part, Representative Faleh Al-Sari expressed his deep appreciation for the efforts made by the Ministry of Planning and the Statistics Authority to conduct the population census electronically and in record time, stressing the importance of this project in ensuring fair distribution of wealth and ensuring fair parliamentary representation for all governorates, in addition to its developmental importance in understanding the Iraqi reality in all its details and drawing up future policies in all fields.    LINK

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Clare: Al-Sudani: $100 billion is the size of investment opportunities in Iraq

10/21/2024

Iraqi Prime Minister Mohammed Shia al-Sudani confirmed that the investment opportunities available in Iraq exceeded $100 billion in value, pointing to the expansion of economic cooperation between Iraq and Egypt. 

This came during a meeting held today, Monday, with the Chairman of the Egyptian El-Sewedy Group of Companies, Ahmed El-Sewedy, and a group of Egyptian company managers, in the presence of a number of his advisors, according to a statement issued by his office and received by Shafak News Agency.

During the meeting, Al-Sudani explained that these investment opportunities were received from Arab and foreign companies, which reflects the potential for economic growth in various fields.

They also discussed ways of cooperation in various sectors, including industry, energy and infrastructure, in addition to developing petroleum resources. It was agreed to study the establishment of industrial cities in Baghdad, as Al-Suwaidi Group presented a map of projects that will be studied by the Advisory Board and relevant authorities.   LINK

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Clare:  Al-Atwani: The government is working on preparing the basics of the 2025 budget to present it to the House of Representatives

10/21/2024

The head of the Parliamentary Finance Committee, Atwan Al Atwani, confirmed that the government is working on preparing the basics of the 2025 budget to present it to the House of Representatives for study and voting.

A statement from his office, received by {Al Furat News}, stated that: “Al Atwani discussed with a delegation from the Adam Smith International Foundation a set of laws related to the development of the financial and banking system, today, Monday, at the headquarters of the Finance Committee in the Council building, where he reviewed important draft laws including the Securities and Commodities Law, the Banking Studies Center Law, and the Islamic Sukuk Investment Law, with the necessary amendments being made, indicating that these laws will be read in the upcoming sessions.

Al-Atwani stressed that "the aim of the amendments is to involve the concerned parties to ensure increased productivity and listen to various opinions to ensure their effective implementation."

The statement added, "The organization of workshops in cooperation with the Law, Economy, and Investment Committees was also discussed to develop laws comprehensively, while hosting specialists to benefit from previous experiences. The mechanism for drafting federal budget texts, analyzing revenues and expenditures, and planning budget items and general programs were also addressed."

Al-Atwani pointed out that "the government is working on preparing the basics of the 2025 budget to present it to the House of Representatives for study and voting."   LINK