Seeds of Wisdom RV and Economic Updates Wednesday Morning 10-30-24

Good Morning Dinar Recaps,

HBAR ADOPTION EXPANDS AS DUBAI LAUNCHES DIGITAL WILL SOLUTION ON HEDERA

▪️Unlike traditional wills that manage physical assets, the DIFC Courts have chosen Hedera for its reliability, security, speed, and trust, ensuring a transparent process.

▪️This initiative underscores Dubai’s strategic approach to establishing a sustainable digital asset infrastructure and regulatory framework.

The Dubai International Financial Centre (DIFC) announced its integration of Hedera’s Hashgraph technology which will power a new Digital Asset Will inheritance solution.

This initiative is distinct from the traditional FinTech focuses like tokenized assets and payments. Thus, it marks a unique application of distributed ledger technology (DLT) in estate planning, especially for digital asset inheritance.

Managing digital assets in inheritance is a new challenge, unlike conventional wills that distribute stocks, cash, and gold. As a result, the DIFC Courts have chosen Hedera’s technology for its reliability, security, speed, and, most importantly, trust. 

Moreover, the governing council of Hedera provides the DIFC and beneficiaries a complete peace of mind via a trusted, transparent process.

Some of the key features of Hedera like the Hedera Consensus Service (HCS), have played a crucial role in offering audit trails at every step along with accuracy. 

This helps to ensure the correct management of inheritances. For example, HCS’s real-time audit logs prevent mistakes in transferring assets, safeguarding beneficiaries from potential delays or errors.

The DIFC’s move highlights Dubai’s forward-thinking strategy in building sustainable digital asset infrastructure and regulation, setting a standard for digital asset planning. This collaboration is a win for both Hedera as a DLT leader and Dubai’s vision for long-term, responsible digital asset growth.

Key Developments in the Hedera Ecosystem
The Hedera ecosystem is currently seeing strong growth as several industry players are willing to transition to blockchain tech and prefer Hedera for its transparent governance and trust. 

Earlier this month, investment firm Canary Capital announced the launch of the first HBAR Trust in the United States, reported CNF. This fueled further speculation around the potential introduction of a Hedera-focused Exchange-Traded Fund (ETF).

The Canary HBAR Trust will provide safe access for investors to crypt+ocurrency HBAR while opening the gates for institutional participation in the crypto. Steven McClurg, CEO of Canary Capital, highlighted that the HBAR Trust is designed to provide U.S. institutional investors with new opportunities to tap into the growing demand for crypto-related products.

On the other hand, Prove AI recently launched its artificial intelligence product on the Hedera blockchain allowing businesses to securely manage their AI training data while ensuring compliance by using Hedera’s secure and scalable infrastructure.

Furthermore, Hedera will also provide governance solutions for businesses interacting with AI regulations and development, reported CNF.

In other news, Karate Combat, the world’s premier professional strike league, has announced the upcoming launch of its Layer-2 platform on the Hedera blockchain. Named “UP,” this Layer-2 blockchain and crypto-native software licensing platform is set to go live in Q1 2025, aiming to propel Web3 adoption across esports, sports, and entertainment sectors, reported CNF.

@ Newshounds News™

Source:  Crypto News Flash

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COINBASE BRINGS REAL-TIME DEPOSITS VIA DEBIT CARDS BY PARTNERING WITH VISA

Coinbase users can now fund their accounts in real-time with eligible Visa debit cards, thanks to a new integration with the Visa Direct network.

Coinbase users in the U.S. and Europe can now deposit funds to their accounts with an eligible Visa debit card, following a new partnership with Visa. In an Oct. 29 press release, Visa said the integration allows Coinbase customers to deposit funds in real-time, offering flexibility for those looking to respond quickly to crypto market movements.

The feature aims to streamline access to trading funds by reducing wait times traditionally associated with crypto funding. The Visa Direct network facilitates immediate deposits, enabling users to top up accounts or make crypto purchases almost instantly. Visa debit cardholders can also cash out to their bank accounts in real time, minimizing delays across all major transactions on the platform.

“Providing real-time account funding using Visa Direct and an eligible Visa debit card means that those Coinbase users with an eligible Visa debit card know that they can take advantage of trading opportunities day and night,” said Yanilsa Gonzalez Ore, head of Visa Direct, North America for Visa

This latest partnership marks another step in Visa’s expanding role in the crypto market, building on the company’s recent introduction of a blockchain platform for banks to manage fiat-backed tokens.

Earlier in October, Visa launched the Visa Tokenized Asset Platform, a network enabling financial institutions to mint, burn, and transfer fiat-backed tokens, including stablecoins. BBVA, the Spanish banking giant, became the platform’s first client, with plans to trial the technology on the public Ethereum blockchain starting in 2025.

@ Newshounds News™

Source:  Crypto News

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🌱ZIMBABWE DITCHES U.S. DOLLAR FOR GOLD-BACKED CURRENCY. WHAT DOES IT MEAN?  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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7 Steps I Took To Get Out of Massive Debt

7 Steps I Took To Get Out of Massive Debt

Laura Beck  Mon, October 28, 2024  GOBankingRates

I’m a Former Shopping Addict: 7 Steps I Took To Get Out of Massive Debt

When Mary H. of Portland, Oregon looked at her credit card statements in 2022, she felt her stomach drop: $100,000 in debt, mostly from years of impulse shopping and living beyond her means. Today, she’s debt-free and sharing her journey to financial freedom.

Here’s how she turned things around.

Step 1: Face the Music

Getting real with herself about the situation was Mary’s first step — and harder than it sounds.

 “I had to stop pretending everything was fine,” Mary said. “I lined up all my credit card statements on my kitchen table one Sunday morning and finally added up the total. I cried for hours, but that moment of brutal honesty was my turning point.”

Step 2: Cut Up the Cards (Literally)

“Everyone says this is dramatic, but I needed dramatic,” Mary said. “I cut up every card except one for emergencies. No more ‘treating myself’ to designer bags or justifying splurges as ‘investments.’ Cold turkey was the only way for me.”

Step 3: Track Every Single Penny

Mary started using a budgeting app to track everything — even the $4 coffee runs.

“It was embarrassing to see I was spending over $300 monthly just on random Amazon purchases,” she said. “Knowledge is power, even when it hurts — and trust me, it hurt to know I spent that much on coffee. I’m a cliché.”

Step 4: Find Your Money Triggers

“For me, Instagram was my biggest spending trigger,” Mary shared. All those influencers making everything look must-have made her think she needed to shop, shop, shop.

TO READ MORE:  https://www.yahoo.com/finance/news/m-former-shopping-addict-7-120009828.html

News, Rumors and Opinions Wednesday AM 10-30-2024

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 Wed. 30 Oct. 2024

Compiled Wed. 30 Oct. 2024 12:01 am EST by Judy Byington

Global Currency Reset:  (RUMORS)

Tues. 29 Oct. 2024 Charlie Ward: Breaking! Military Intel: EBS Training Complete, Countdown to the Great Currency Revaluation Begins!

The countdown to the Great Currency Revaluation (RV) has started! Prepare for this historic shift in global finances and power. Unprecedented opportunities and revelations await as the EBS (Emergency Broadcast System) stands ready to broadcast the truth, shaking the foundations of our world.

For centuries, the powerful elites have used financial systems to enslave the masses, but RV changes everything. Imagine currencies like the Iraqi Dinar, Vietnamese Dong, and Indonesian Rupiah rising to new levels, breaking the chains of the old financial order. This isn’t just another shift; it’s a total reset.

The RV Impact: A move to real wealth and freedom. Debt and fiat currency will crumble under NESARA and GESARA laws, opening doors for all. This isn’t a theoretical concept—military and global finance teams are primed to execute a financial revolution. As the old systems collapse, new financial structures based on quantum technologies will take their place, putting the power back into the hands of the people.

This global reawakening means freedom from debt slavery, control, and lies. As we approach this monumental change, stay informed and ready. Change is here, and it’s unstoppable. Are you prepared to witness history unfold?

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Tues. 29 Oct. 2024 Bruce: (RUMORS(

A Tradable Dinar Rate came up on the Forex Sunday night 20 Oct. and has been trading in some Middle East countries

Since last Sun. 20 Oct. the government of Iraq has been paying people at their new Dinar Rate.

The EBS is supposed to get the information out. 

A Redemption Center Regional Head had a 12 hour day today, received an email that contained information about tomorrow around 11 am EST. He forwarded it on to other Redemption Centers.

It is possible we could get started some time tomorrow Wed. 30 Oct. to set our appointments and get started with appointments on Thurs. 31 Oct.

Tues. 29 Oct. 2024: Breaking! The NESARA LAW and What Happens When Implemented 2024 | Prophecy | Before It’s News

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Tues. 29 Oct. 2024 NESARA GESARA BOMBSHELL …False Flags on Telegram (RUMORS)

Debt Forgiveness – A Total Financial Reset! All your debts? WIPED OUT! Mortgages, loans, credit card debt—gone! This isn’t a favor; this is justice for decades of financial crisis.

Tax Liberation – The IRS is about to be SMASHED! Say goodbye to the income tax nightmare! NESARA brings in a 14% flat tax on non-essential goods, cutting off the government’s greedy hands from your paycheck!

The Federal Reserve—GAME OVER! The Fed is about to be dismantled. A new, Treasury-backed “Rainbow Currency” will replace the worthless paper dollars, backed by gold, silver, and platinum!

Financial Privacy Restored – NESARA ends the constant surveillance on your finances. No more government control over your money—it’s yours, and yours alone!

Humanitarian Projects – NESARA is launching global humanitarian efforts, with funding that will transform lives worldwide. This is about more than survival, it’s about abundance for all!

Restitution and Redemption – The elites’ stolen wealth will be returned to the people. NESARA will right the wrongs of the past, with restitution for unconstitutional acts and unjust debt.

NESARA GESARA isn’t just a policy—it’s a global reset that will destroy the old world order and give power back to the people. The 30+1 provisions are the blueprint for a global revolution. Are you ready for the explosion?

Read full post here:  https://dinarchronicles.com/2024/10/30/restored-republic-via-a-gcr-update-as-of-october-30-2024/

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

Frank26  [Iraq boots-on-the-ground report]   FIREFLY:
Television is saying the dinar has grown in strength locally and that the decline of the dollar market is looking good, saying this is great that the black market is failing, the monetary reform is succeeding and soon to bring forth what was promised.  FRANK:  Woo!  Yes it is great because this is what is needed in order to bring out the new exchange rate.  As the dollar drops your currency grows.

Mnt Goat   Article:  "WHAT IS THE TOTAL SPENDING AND PRICE OF A BARREL OF OIL IN THE 2025 BUDGET?" Quote:  "...the price of a barrel of oil in the three-year budget, to which the 2025 budget is subject, was set at $70..."  Just wanted to reiterate once again that the budget is based on a the prices of a barrel of oil and not the rate of the dinar... They never held up announcing a budget because of the RV.

BAD to WORSE: $628 Billion in Unpaid Debt, Housing Crisis, US Consumers Are Struggling to Pay Bills

Lena Petrova:  10-29-2024

https://www.youtube.com/watch?v=DY5oL8fVx9s

Tidbits From TNT” Wednesday Morning 10-30-2024

TNT:

Tishwash:  Rafidain Bank studies establishing an electronic platform for trading government bonds

Rafidain Bank confirmed, today, Wednesday, the establishment of an electronic platform for trading government bonds.

The bank stated in a statement received by Al-Maalouma Agency that it “will sponsor an expanded meeting in cooperation with the Securities Commission and the Iraq Stock Exchange to discuss launching an electronic platform for trading government bonds.”

He pointed out that "the meeting will be sponsored by the Minister of Finance and the Governor of the Central Bank of Iraq."  link

Tishwash:  The Central Bank republishes controls for declaring funds and bringing them in or out of Iraq

Today, Tuesday (October 29, 2024), the Central Bank of Iraq republished the controls for declaring funds, while indicating that it allows the entry or exit of amounts less than $10,000.

The bank said, according to a statement received by "Baghdad Today", that "in order to reduce the risks of bringing in and out money across the Iraqi borders and exploiting this in money laundering or terrorist financing operations, and based on the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2025, and the provisions of Controls No. 1 of 2029 (amended Controls No. 1 of 2017), the following must be adhered to:

1. It is permitted to bring in or take out amounts less than (10,000) dollars (ten thousand US dollars) or its equivalent in other currencies without declaring them.

2. It is permitted to bring in or take out amounts exceeding (10,000) dollars (ten thousand US dollars) to 20,000 dollars (twenty thousand US dollars) provided that they are declared, with the necessity of presenting evidence supporting the purpose of bringing in or taking out these amounts. In the event that supporting documents are not available, the traveler must submit a pledge to bring these documents after (30) days from the date of declaration.

3. It is prohibited to bring in or take out amounts exceeding (20,000) dollars (twenty thousand US dollars) or its equivalent in other currencies, and the process of bringing in or taking out these amounts shall be exclusively through financial institutions.

4. It is prohibited to bring in or take out amounts exceeding (1,000,000) dinars (one million Iraqi dinars) even if they are declared, and the amount will be seized and legal measures will be taken against it. 5. Declaration of precious stones and metals if their value exceeds (10,000) ten thousand US dollars. 6. Declaration of financial instruments that are negotiable to bearer or are transferred inside or outside Iraq by a person, postal service, shipping service or any other means and whose value exceeds (1,0000) ten thousand US dollars  link 

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Tishwash:  The Dinar Under Siege: How Do Smuggling Mafias Strike the Cash Reserve?

Reports indicate a worrying increase in the activity of currency smuggling mafias in Iraq, which has raised widespread questions about the serious repercussions of this activity on the Iraqi economy.

Such operations that aim to transfer money abroad illegally lead to huge losses in the cash reserve and affect the state’s ability to finance basic needs, and contribute to the exacerbation of inflation and the deterioration of the value of the Iraqi dinar.

One economic analysis states that: “Currency smuggling operations weaken Iraq’s foreign exchange reserves, increasing the country’s inability to meet its basic import needs, and leading to a deterioration in the balance of payments. This illegal outflow of funds not only leads to weak domestic investment, but also creates an unstable economic environment, raising concerns among foreign and local investors alike.”

Another aspect of the negative effects of these operations appears in the financing of illegal activities such as drug trafficking and support for armed groups, indicating that currency smuggling is not only an economic issue, but a security problem that affects the stability of Iraq more deeply.

The various methods used to smuggle money include foreign imports that take place outside the official platform of the Central Bank, which is a violation of the laws and increases chaos in the market.

Reports indicate that some parties are deliberately seeking to weaken the national currency by raising the price of the dollar in an exaggerated manner, which raises questions about the possibility of internal parties colluding with smuggling networks to increase their profits at the expense of the national economy.

Expert Mohammed Al-Kubaisi explains that currency smuggling mafias exploit political and economic crises to increase their activities, taking advantage of weak government oversight and financial turmoil to achieve huge profits.

The problem seems to go beyond the economy to include deeper issues related to weak legislation and government control, which is prompting some analysts to call on the government to take strict measures, including imposing strict controls on financial transactions and setting policies that encourage local investment to limit the flow of money abroad.  link

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Lilfish:  IMF Touts US Economy the Growth Engine of the World

WASHINGTON, Oct 22 (Reuters) - The U.S. economy will continue to provide most of the thrust for global growth through the balance of this year and in 2025, led by robust consumer spending that has held up through a wrenching bout of inflation and the high interest rates used to tame it, the International Monetary Fund said on Tuesday.

In its latest World Economic Outlook, the IMF raised its 2024 and 2025 economic growth forecasts for the U.S. - the only developed economy to see its outlook marked up for both years - and its chief economist said the "soft landing" sought by the Federal Reserve in which inflation eases without big damage to the job market had largely been achieved.

Emerging market powerhouses India and Brazil also stood out on the upside of the IMF forecasts, while it dialed back growth expectations for China for this year and left next year's forecast for the world's No. 2 economy at a below-trend 4.5%.

Still, it warned that risks abound from armed conflicts, potential new trade wars and the hangover from the tight monetary policy employed by the Fed and other central banks to rein in inflation.

"Today, the IMF reported that the United States is leading the advanced economies on growth for the second year in a row," Lael Brainard, the director of the White House's National Economic Council, said in a statement.

The IMF's latest World Economic Outlook said the shifts will leave 2024 global GDP growth unchanged from the 3.2% projected by the global lender in July, setting a lackluster tone for growth as world finance leaders gather in Washington this week for the IMF and World Bank annual meetings.

Global growth is projected to be 3.2% in 2025, one-tenth of a percentage point lower than forecast in July, while medium-term growth is expected to fade to a "mediocre" 3.1% in five years, well below its pre-pandemic trend, the report showed.

Nonetheless, the IMF's chief economist, Pierre-Olivier Gourinchas, said some countries, including the U.S., were showing resilience.

"The news on the U.S. is very good in a sense," Gourinchas said at a press conference in Washington. "The labor market picture remains one that is fairly robust, even though it has cooled off."

"I think the risks of a recession in the U.S. in the absence of a very sharp shock would be somewhat diminished," he said.

Although Gourinchas said it looked as if the global inflation battle had largely been won, he told Reuters in an interview there is a risk that monetary policy could "mechanically" become too tight without interest rate cuts in some countries as inflation subsides, weighing on growth and jobs.

CONSUMER STRENGTH

The IMF revised its 2024 U.S. growth forecast upward by two-tenths of a percentage point to 2.8% due largely to stronger-than-expected consumption fueled by rising wages and asset prices. The global lender also upgraded its 2025 U.S. growth outlook by three-tenths of a percentage point to 2.2%, slightly delaying a return to trend growth.

https://www.reuters.com/markets/us/imf-lifts-us-growth-forecast-marks-down-china-sees-lackluster-global-economy-2024-10-22/

Mot:  . Poor ole ""earl"" -- He Trys... LOL 

Mot:  they Say that -

Where Does the Buck Stop?

Where Does the Buck Stop?

Victoria Vesovski   Tue, October 29, 2024  Moneywise

‘Sitting on their piles of gold’: Adult son outraged his parents, worth $10M+, haven’t offered him help. From midnight diaper changes and years of running on caffeine to those last-minute dashes to buy poster boards and relearning algebra just to help with homework, for decades, parenthood means putting the kids first.

But while you’d drop everything to help them at 4 years old, should the same still hold true at 44?

That’s the question one frustrated poster brought to Reddit in a since-deleted post. After a chance peek at his father-in-law’s accounts revealed that his in-laws are sitting on a $10 million fortune, he was left outraged. As he explains, he’s in his late 30s and he and his wife live with their two children in an expensive city.

They’re saddled with $20,000 in credit card debt and their credit scores have suffered, while his wife’s parents have just let them struggle. Outraged that they haven’t stepped in considering their wealth, he turned to his own dad — only to find his parents were just as well off.

“Here are our own parents sitting on their piles of gold, watching us navigate a new level of economics and shopping for discounts and raising our children in sub par school districts and for WHAT?” the user wrote.

The Redditor insists he’d give his last dollar to make his son more comfortable one day, but where does the buck stop?

A Generational Divide

Some baby boomer parents might be struck by the millennial poster’s expectations of his parents. But it’s pretty common these days for parents to help their kids even after they’ve left home — in fact, 65% of them say they provide financial help to their adult children.

TO READ MORE:  https://www.yahoo.com/finance/news/sitting-piles-gold-adult-son-103500519.html

Seeds of Wisdom RV and Economic Updates Tuesday Evening 10-29-24

Good Evening Dinar Recaps,

US TREASURY STRATEGY FOR FINANCIAL INCLUSION MENTIONS DIGITAL ASSETS

The United States Department of the Treasury has released its national strategy for financial inclusion, only including cryptocurrencies as a potential risk for consumers.

In an Oct. 29 notice, the US Treasury said its National Strategy for Financial Inclusion in the United States report resulted from a request from Congress and included recommendations to “advance consumer access to safe financial products and services and strengthen financial security.”

According to the department, one of its methods of financial inclusion was through research of a “series of publications on consumer activities and risks related to digital assets,” citing a September 2022 report.

According to the US Treasury, the national strategy recommended increasing access to “safe and affordable credit,” improving the inclusivity of financial services and products from the government, and “protecting consumers from illegal and predatory practices.”

National Economic Advisor Lael Brainard credited Vice President Kamala Harris with helping expand “access to capital, credit, and economic opportunity.”

The strategy by the government department suggested that it would not be considering cryptocurrencies like Bitcoin as a means of financial inclusion in the United States. 

Though many digital asset advocates recognize the potential risk of crypto investments, the technology has often been touted as a way to level the playing field for individuals who may not always have access to traditional banking.

US election could affect crypto policy in 2025
It’s unclear if Vice President Harris would consider this strategy if she were victorious over Republican Donald Trump in the US election in November. The Democratic candidate has suggested she would support the industry if elected but still expressed concerns over consumer protection.

During his administration, US President Joe Biden issued an executive order establishing a framework for digital assets and instructing government departments to study the ecosystem’s potential impact on consumer and investor protection, financial stability, financial inclusion, responsible innovation, the US’ financial leadership and combating illicit financial activity. 

The Treasury Department has been involved in developing policy recommendations for crypto in accordance with the order.

@ Newshounds News™

Source: CoinTelegraph \

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BIS DEBATES ENDING CROSS BORDER CBDC PROJECT MBRIDGE – REPORT

Yesterday Bloomberg reported that the Bank for International Settlements (BIS) is considering whether to shut down Project mBridge, the cross border CBDC payments platform developed in collaboration with the central banks of China, Hong Kong, Thailand and the UAE. In June Saudi Arabia joined at the same time as mBridge launched as a minimum viable product.

Bloomberg cited sources saying the topic was discussed at last week’s International Monetary Fund (IMF) and World Bank meetings. A concern is Russia’s ongoing enthusiasm for developing a similar sounding BRICS Bridge.

At a Group of 30 event in Washington on Saturday, BIS general manager Agustín Carstens was quoted as saying “we cannot directly support any project for the BRICS because we cannot operate with countries that are subject to sanctions — I want to be very clear about that.” Both Russia and Iran are BRICS+ members.

mBridge’s design
mBridge enables commercial banks to make cross border payments via their central banks, using wholesale central bank digital currencies (wCBDCs). The design encourages direct local currency payments, sidestepping the need to use US dollars.

For cross border payments, banks often either use correspondent banks or keep bank accounts (nostro accounts) at the destination, which are expensive to maintain as they tie up capital.

Hence, there are pros and cons with the mBridge design. A key advantage is banks don’t need to keep nostro accounts at the destination or use correspondent banking, saving considerable money.

On the flip side, a key reason for using the US dollar as an intermediate currency is because almost all currencies have their optimal FX rates against the dollar. In other words, local currency payments involve less attractive FX rates, which is why they haven’t taken off in a big way.

There’s some simple math involved here. Currently, there are 180 currencies, each with their best rate against the dollar. That’s 180 currency pairs, with relatively strong supply and demand. So it’s cheaper to go from Thai baht to USD to renminbi, than directly from baht to renminbi.

That’s because the direct local currency route for 180 currencies translates to 16,110 currency pairs. If you spread the supply and demand across 16,110 pairs rather than 180, these are far more thinly traded so you no longer get good FX rates.

An obvious path is to choose an intermediate currency different from the US dollar. Notably, BRICS countries don’t seem keen on that. This FX cost issue is critical to mBridge’s viability, because FX makes up the largest proportion of cross border payment costs, by far. State-owned Chinese companies might feel obliged to use local currencies, but companies in other economies will demand the cheapest path.

China’s role in mBridge
China chairs the mBridge technical working group and developed some proprietary components, including a Chinese blockchain consensus mechanism. The Bloomberg piece was critical about allowing China such an important role in the project. 

China’s role is even greater because Hong Kong is involved and the UAE’s central bank representative spent a large part of his career at the Hong Kong Monetary Authority. So three out of the four central banks have strong Chinese ties. 

However, the project started as a joint Hong Kong – Thailand initiative, so its location at the Hong Kong BIS Innovation Hub and the involvement of China were natural paths.

However, it’s not surprising the topic is being debated. Ledger Insights featured an opinion piece exploring the BIS dilemma in January. It concluded that if mBridge proves viable, then the central banks are likely to proceed with or without the BIS. Although it depends on their contracts with the BIS.

Since the January post, the BIS has launched Project Agorá, another cross border CBDC project, but one that supports correspondent banking. Unlike mBridge which has two BRICS members in China and the UAE, no BRICS members are involved in Agorá.

At SIBOS last week, two pieces of mBridge news reinforced the existence of this BIS debate around its future. Firstly, there was a surprising discussion about potentially integrating with Swift and even possibly including the dollar in future.

The second piece of news was the plan to open source the mBridge software. On the one hand, this might help to alleviate concerns about the dependence on China. However, it also makes it far easier for sanctioned countries to spin up a version of their own, without involving the BIS.

Should the BIS remain engaged?
In our January opinion piece, we concluded that IF mBridge proves viable, the central banks are likely to continue, with or without the BIS. With open source software, that’s even more probable. However, with the BIS involved, sanctioned countries will be prevented from engaging.

Payments are all about network effects. So if many more countries join mBridge rather than BRICS Bridge, that will support the effectiveness of sanctions and prevent mBridge morphing into BRICS Bridge. It brings the issue into focus: is mBridge about new payment efficiencies, or is it about an alternative to the status quo with the US dollar at the core?

At SIBOS, the former Governor of the People’s Bank of China, Zhou Xiaochuan, noted that “If the U.S. government would like to use the U.S. dollar as a sanction tool, it may reduce the feasibility of other countries to use the U.S. dollar.” 

No matter one’s view on Russia or Iran, Governor Zhou’s statement is factual. Whether it’s mBridge or something entirely different, logically there will be strategies to circumvent using the dollar. We’ve reported on Russia iterating through several different paths, many involving crypto or DLT.

However, in the case of mBridge, the genie is already out of the bottle. It’s likely better for the BIS to engage than not.

@ Newshounds News™

Source:  Ledger Insights

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🌱 HOW TO HANDLE CRYPTO!  BINANCE HAS A CRYPTO WEALTH MANAGER  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

Flood Insurance Isn't Perfect But You Should Probably Buy It Anyway

Flood Insurance Isn't Perfect But You Should Probably Buy It Anyway

Claire Boston · Senior Reporter  Sat, October 26, 2024  Yahoo Finance

Flood insurance can be expensive and have major coverage limitations when disasters strike. But as climate change increases the frequency of extreme weather, it’s becoming essential coverage even for those who don’t live in traditional high-risk areas.

Recent disasters like Hurricane Helene, which severely flooded inland, mountainous parts of North Carolina, and catastrophic rainfall in central Vermont underscore the risks of flooding in areas far from the coasts. Last weekend, record-setting rain in Roswell, N.M., brought flash flooding that killed two people.

In the last 20 years, nearly every county in the US has experienced some degree of flooding, according to the Federal Emergency Management Agency, better known as FEMA. Conventional homeowners insurance offers little to no flood protection, and nationwide just 4% of households carry flood insurance.

That gap in insurance coverage can leave homeowners with catastrophic bills following an unexpected disaster.

 “A lot of people think that flood is a covered peril, be it within their homeowner’s policy or their renter’s policy,” said Mark Niess, vice president of private flood at insurer Wright Flood. “There is coverage for water, but there’s not necessarily coverage for flood.”

Flooding is frequently cited as the most expensive type of natural disaster — a single inch of water can cause $25,000 of property damage.

Most flood coverage is provided by the US government’s National Flood Insurance Program, after private insurers exited the market en masse nearly 100 years ago following catastrophic flooding of the Mississippi River.

Homeowners who sit in 100-year floodplains — areas deemed to have a 1% chance of flooding in a given year or a 30% chance over the life of a typical mortgage — are considered “high risk” and are required to have flood insurance if they have government-backed mortgages.

But more and more homes that don’t sit in floodplains are also at risk as the planet warms. Many of FEMA’s flood zone maps haven’t been updated in years, and even those that have been rely on historical storm data and don’t take into account how climate change and an atmosphere that holds more moisture will affect future flooding.

Buncombe County, N.C., which was hit hard by flooding from Hurricane Helene, experienced more than 50 floods between 1996 and 2019, according to FEMA data. But few structures in the county were designated as being in a flood zone, and less than 1% of buildings were covered by NFIP policies.

The lack of insurance is financially devastating. Data provider CoreLogic pegs the total uninsured losses from Helene between $20 billion and $30 billion.

“We know that a lot of things have changed related to how our communities are experiencing flood risk, even just in recent years,” said Anna Weber, a senior policy analyst for environmental health at the Natural Resources Defense Council.

“Not only do we have to update the flood maps so that they are accurately describing current conditions, we also have to look into the future so we understand what we’re going to be experiencing in the decades to come.”

Flood-prone states like Florida, Texas, and Louisiana have the most homes insured under the NFIP, but in states as varied as Massachusetts and Arizona, nearly every county has experienced 50 or more floods between the late 90s and 2019, according to FEMA data.

TO READ MORE:   https://finance.yahoo.com/news/flood-insurance-isnt-perfect-you-should-probably-buy-it-anyway-143404822.html

Tuesday Evening Chat With MarkZ and Zester 10-29-2024

Tuesday Evening Chat With MarkZ and Zester

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: Hello to all fellow Dinarians

MZ:: In Iraq: “Full decisions of the cabinet meeting” This is a long article….they are getting into the big, heavy decisions they have in front of them. The reforms going on in Iraq are impressive……Why do I point them out? Many are part of their white papers and banking  and monetary reforms along with the increase of the purchasing power of the dinar.  

MZ: “ Al Azim: Welcomes the holding of next Thursdays session to elect the speaker of Parliament”  One of my sources in Iraq believes this is important and one of the reasons they have not pulled the trigger.

Member: There has not been a speaker in Parliament for close to 2 years…..it sucks they are just getting around to it…….sounds suspicious to me.

MZ: This is interesting: “ Coinciding with the dollar. Gold prices begin to rise in the Iraqi markets”  the biggest thing is the amount of gold purchasing going on in the Iraqi markets. Not only by Central banks but also by individuals purchasing gold.  Its almost as if everybody knows the world is going gold backed?

Member: Any news on the bonds side yet?

Member: I did get an update from a bond person who fully expects everything . They are waiting on a transaction to finish with full liquidity in the morning. I should know in the morning if he has liquidity..

MZ: Most however are anticipating it happening from this evening to midweek next week for their liquidity…..we are praying they get it. That will mean we have crossed the Rubicon.

Member: Mark, waiting on bonds in EU and HK to pay soon. Will let you know if it goes.

MZ : I’m waiting to hear if they are going in Hong Kong as well.

MZ: I am not overly optimistic though- This close to the election.

Member: unless the election is the diversion they need to release everything?

Member: Hey all. I remember someone in chat posted months ago that a bond flipper was paid and under an NDA until Thanksgiving. So perhaps before Thanksgiving for us may be a good bet.

Member: Does Mr. C still think it will happen before Thanksgiving?

MZ: He does – He thinks it will be in the next week or two since things are looking so good.

Member: Thanks Mark and mods…..be blessed.

Member: Enjoy the rest of your evening everyone…sleep well

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

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

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

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

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

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

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

Youtube:   https://www.youtube.com/watch?v=cjYM1Q22lCM

More News, Rumors and Opinions Tuesday PM 10-29-2024

KTFA:

Clare:  New details regarding the 2025 budget tables.. Check them out

10/29/2024  Baghdad

The government confirmed that the 2025 budget will remain within the range of 200 trillion dinars, despite the parliamentary finance committee’s demands to reduce it to match the expected financial revenues for next year.

In this context, the Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Salih, explained that "the 2025 budget will remain linked to the constants approved in the Federal General Budget Law for the three years (2023-2024-2025), which was previously submitted by the government and approved by the House of Representatives."

Saleh stated that "next year's budget will include a hypothetical deficit of 64 trillion dinars," indicating that "this deficit is a precautionary deficit that has been approved by law to deal with revenue fluctuations, especially oil revenues, which are affected by changes in global energy prices and the oil asset cycle." 

He added that "the total spending ceiling will approach 200 trillion dinars, according to the country's financial and economic conditions."

He pointed out that "the price of a barrel of oil in the three-year budget, which includes the 2025 budget, was set at $70. If the price of oil exceeds this level, this will lead to a reduction in the expected hypothetical deficit in the budget."

LINK

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Clare:  Commercial Bank allows buying dollars through Kurdistan airports

10/29/2024   Baghdad

The Commercial Bank of Iraq announced the possibility of purchasing dollars by travelers through the airports of the Kurdistan Region in Erbil and Sulaymaniyah at the official price.

The bank stated in a statement that the traveler must deposit the necessary amounts in Iraqi dinars in one of the branches.

The Commercial Bank of Iraq in Mosul, Erbil, Sulaymaniyah or Dohuk to be able to obtain the dollar at the official price.

He pointed out that "the traveler must have a valid Iraqi passport with a valid visa or residency, in addition to a civil status ID or national card and a valid travel ticket."

He added, "The traveler must pledge not to buy foreign currency from another party in Iraq for a period of one month, and he must be Iraqi and over 18 years old."

According to information, travelers can buy dollars in amounts up to 3 thousand dollars, at the official price of 132 thousand dinars for every 100 dollars.  LINK

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

Frank26  [Iraq boots-on-the-ground report]   FIREFLY: TV says Iraq has implemented a new hybrid monetary process.  FRANK:  A second set of book that uses a different exchange rate!

Militia Man Iraq is losing billions per month... Why aren't they pumping oil out of the Ceyhan?  I think that's because they need to value the assets...which is oil coming out of the ground...What is going to be the components of that 'base currency' they talk about.  What is the base currency they talk about?  The Iraq dinar.  If it's going to be a base currency what's the real effective exchange rate.  And that's those budget tables in 2024.  That's what I'm looking for...I think we're going to see them in very short order.

War on Global South: BRICS' mBridge to be Shut Down by Western Allies to Save the US Dollar

Lena Petrova:  10-29-2024

https://www.youtube.com/watch?v=DrZdfU8zjD0

IMF and World Bank Vows to STOP BRICS mBridge: Direct Confrontation of BRICS and the West?

Fastepo:  10-29-2024

https://www.youtube.com/watch?v=mrNp3hCVT0w

Iraq Economic News and Points To Ponder Tuesday Afternoon 10-29-24

Al-Sudani: The Priorities Of The Government Program Were Necessary Due To The Nature Of The Stage And Its Economic Challenges

Tuesday 29 October 2024 | Politics Number of readings: 113  Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani stressed: "The priorities of the government program were necessary for the nature of the stage and its economic challenges."

Al-Sudani said in a speech during the cabinet session on the occasion of the second anniversary of the first government session: "The targets of the government program touched the needs and aspirations of the people."

He added: "The ambition and accurate diagnosis were among the most prominent features of the government team, and we succeeded in prominent files and the language of numbers is what governs."

The Prime Minister continued: "Our achievement is throughout Iraq, and was not limited to one city, and we have completed stalled projects since 2005, and we have begun to solve intractable problems."    https://ninanews.com/Website/News/Details?key=1165035

Al-Sudani: We Are In The Process Of A Ministerial Reshuffle

Tuesday 29 October 2024 18:57 | Politics Number of readings: 41  Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani announced an expected ministerial reshuffle.  Al-Sudani said in a speech during the cabinet session, on the occasion of the second anniversary of the first government session:

"The government faces financial, monetary, institutional and legislative challenges, and we are in the process of a ministerial reshuffle," stressing: "The ministerial reshuffle is not a political position."

He added: "We face political challenges in light of the recent turns in the region as a result of the Zionist aggression, and the region is going through dangerous developments that directly affect Iraq." https://ninanews.com/Website/News/Details?key=1165046

The President Of The Republic Calls For Enhancing Cooperation With The Countries Of The World In Order To Extradite Wanted Persons And Recover Iraq's Funds Abroad

Tuesday 29 October 2024 12:59 | Economic Number of readings: 300  Baghdad / NINA / President of the Republic Abdul Latif Jamal Rashid called for enhancing cooperation and coordination with countries of the world in order to extradite wanted persons and recover Iraq's funds abroad.

A presidential statement stated that the President of the Republic received, today, Tuesday, at the Baghdad Palace, the Chairman of the Integrity Commission, Mohammed Ali Al-Lami.

According to the statement, Rashid congratulated the Chairman of the Commission on his assignment to the position, stressing that everyone expects effective and correct steps from the Commission to preserve public money through legal and constitutional procedures, adding that diagnosing the waste of public money is a noble national task that requires a serious and firm stance from all regulatory agencies and bodies, foremost of which is the Integrity Commission, calling for the adoption of integrated and comprehensive national plans and programs in which all official and societal activities have an active role. "

The President of the Republic called, according to the statement, to enhance cooperation and coordination with countries of the world in order to extradite wanted persons and recover Iraq's funds abroad."

For his part, Mohammed Al-Lami reviewed the Commission's future plans and programs, appreciating the support of His Excellency the President of the Republic for the Commission's work and its efforts to achieve transparency.

He stressed the importance of the Presidency of the Republic's support for the Integrity Commission in its efforts to combat the corrupt, recover Iraq's money, and preserve national wealth. / https://ninanews.com/Website/News/Details?key=1164949

The Ministry Of Finance Issues A Directive To Withdraw The Hand Of The Director General Of The General Tax Authority

Buratha News Agency1392024-10-29  The Ministry of Finance issued a directive to withdraw the Director General of the General Tax Authority. This came after the Parliamentary Integrity Committee submitted a recommendation to the Prime Minister yesterday, Monday, to withdraw the Director General of the Tax Authority.

 The committee stated in a statement, “The Parliamentary Integrity Committee followed with great interest the audio file attributed to the Director General of the Tax Authority in which he talks about manipulation of tax records in exchange for bribes.”

The statement added, "Based on its role and keenness to achieve the values ​​of integrity and combat corruption, the committee addresses the Prime Minister to submit a recommendation to withdraw the Director General's hand until the investigations are completed and the validity of the registration is decided by the competent judicial authorities to ensure the integrity of the procedures and prevent any cases of manipulation in the future."

Yesterday, Monday, the Prime Minister ordered an investigation into an audio leak attributed to the Director General of Taxes.   https://burathanews.com/arabic/news/452162

Slight Rise In Oil Prices In Global Markets

Tuesday 29 October 2024 | Economic  Baghdad / NINA / Oil prices rose slightly on Tuesday, after a sharp decline in the previous session, supported by a US plan to buy oil to boost the strategic reserve.

Brent crude futures rose 44 cents, or 0.6%, to $71.86 a barrel, while US West Texas Intermediate crude rose 45 cents, or 0.7%, to $67.83.  Futures for the two benchmarks fell 6% on Monday, reaching their lowest levels since October 1.   https://ninanews.com/Website/News/Details?key=1164898

Continuous Decline In Dollar Prices.. Will Iraq Restore Balance To Its Economy?

Economy  | 10/29/2024  Mawazine News – Economy  The US dollar exchange rates witnessed a decline on Monday in the markets of the capital Baghdad and in Erbil, the capital of the Kurdistan Region, with the opening of the country's main stock exchange.

The dollar prices decreased with the opening of the two main stock exchanges in Baghdad, Al-Kifah and Al-Harithiya, to record 150,750 dinars per 100 dollars, while yesterday, Sunday, it recorded 151,000 dinars per 100 dollars.

As for the selling prices in exchange shops in the local markets in Baghdad, they decreased, as the selling price reached 151,750 dinars, while the purchase price reached 149,750 dinars per 100 dollars.

In Erbil, the dollar recorded a decline, as the selling price in exchange shops reached 150,700 dinars per 100 dollars, while the purchase price reached 150,600 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=256218

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

Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 10-29-24

Good Afternoon Dinar Recaps,

JUST IN: BINANCE LAUNCHES FIRST-EVER CRYPTO EXCHANGE SERVICE FOR WEALTH MANAGERS

Binance has launched the a first-of-its-kind crypto solution which will cater to the crypto needs of wealth managers.

▪️Binance has launched 'Binance Wealth' which will cater to wealth managers and further boost crypto adoption.

▪️This initiative will provide easy access for high net-worth individuals seeking digital asset exposure.

▪️The exchange will provide exposure to a wide range of crypto assets beyond Bitcoin and Ethereum.

Binance, the world’s largest crypto exchange by trading volume, has launched the first-ever crypto exchange solution for wealth managers. According to the exchange, this initiative will be similar to traditional wealth management. This move could also help further assert the exchange’s dominance in the crypto space.

Binance Launches ‘Binance Wealth’
The crypto exchange announced in a press release the launch of Binance Wealth, the first crypto exchange technological solution catering to wealth managers. 

This service will allow wealth managers to oversee their clients’ onboarding and make investment recommendations, ensuring that these clients enjoy strong support throughout the onboarding process.

Wealth managers will also retain full discretionary control, similar to traditional wealth management services. Wealth managers seeking the Binance Wealth program must apply to gain access. After their application has been approved, they can support their clients with the onboarding process into the crypto space.

These clients will have to submit the necessary KYC/KYB documentation for verification. Once boarded, these clients can manage their investments and gain guidance from their wealth managers on the best investment decisions for them.

This move comes just over a month after Binance CEO Richard Teng mentioned that their institutional investors grew 40% this year. With this first-of-its-kind offering, the top crypto exchange will attract high-net-worth individuals looking to gain exposure to cryptocurrencies.  This could also help boost the crypto exchange’s dominance as it looks to wade off its competitors.

Advantage Of This Initiative For Investors
Binance mentioned in the press release that this initiative will significantly reduce the entry barrier for wealth managers and their clients seeking digital asset exposure. These investors will enjoy an experience similar to the traditional financial advisory framework they are accustomed to.

These investors will gain exposure beyond Bitcoin and Ethereum as the top exchange will offer a wide range of supported tokens beyond the top two cryptocurrencies by market cap.

Wealth managers’ clients will have access to trading and earn/staking products, which cater to the needs of all clients, whether they are looking for active or passive investment opportunities.

Lastly, the crypto exchange mentioned that Binance Wealth will provide a ‘White-glove VIP service’ as wealth managers will receive high-touch VIP services and support from the exchange’s VIP key account client managers.

@ Newshounds News™

Source:  CoinGape

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FIVE THINGS TO EXPECT IN CARDANO'S UPCOMING CHANG 2 UPGRADE

The Cardano blockchain's two-part Chang Hard Fork represents a major upgrade that will enhance network functionality and decentralized governance. On Sept. 1, Chang 1, the first phase of the Chang Hard Fork, was activated, bringing crucial improvements such as empowering the Interim Constitutional Committee.

In November 2024, the process to enact the second phase of the Chang upgrade is expected to kick off in full swing, ushering in a critical phase for Cardano’s governance evolution. Chang 2 will require five governance actions to be successfully enacted on-chain.

The current roadmap anticipates a prerelease of Cardano node v10 for testing in mid-October. This crucial phase will initiate thorough testing across multiple environments, starting with the preview and preprod testnets. This second controlled Chang hard fork will complete the metamorphosis of Cardano to the age of Voltaire. 

This culmination of the Chang upgrade will mark a watershed moment for Cardano’s governance, marking a pivotal shift that will have far-reaching and long-term consequences for the whole ecosystem. What to expect The second phase of the Chang Hard Fork is expected to bring even more advancements. In a recent tweet, Emurgo, a founding entity of Cardano, outlined five updates to potentially expect.

First is Delegate Representative (DRep) Voting. Introducing Delegate Representative (DRep) Voting aims to strengthen the community's voice. DReps will be one of the key governing bodies in Cardano's governance framework, able to vote on ideas and governance actions on behalf of the whole community. SPO (Stake Pool Operator) voting will also be a key upgrade in the Chang phase 2.

 Through this update, SPOs will gain voting power by leveraging the stakes delegated to their pools, altering their role in Cardano's future decentralized governance to one of greater participation.

The Cardano Chang 2 upgrade will also usher in governing actions; here, community members will be encouraged to propose governance actions. Anybody in the community will be able to initiate a proposal with a small ADA deposit, which will be refunded after voting ends. 

The proposal will go through a voting procedure with DReps and SPOs to verify that the results match the Cardano community's vision. 

Another update to be expected is Treasury Withdrawal. To carry out the approved governance actions, a treasury withdrawal system will be deployed. Approved governance actions will receive funding allocated directly from Cardano’s treasury.

 This system will allow community members to shape treasury funds, promoting the Cardano network's long-term growth.

@ Newshounds News™

Source:  U Today

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🌱PETER SCHIFF EXPLAINS WHY AMERICA IS ENTERING A HORRIFIC FINANCIAL CRISIS  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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