Seeds of Wisdom RV and Economic Updates Sunday Afternoon 11-3-24

Good Afternoon Dinar Recaps,

XRP LEDGER MAKES MAJOR LEAP FOR INSTITUTIONAL-GRADE DEFI AS THIS FEATURE LAUNCHES

According to an exciting announcement by the RippleX official X account, the XRPL oracle pricing amendment is now live. This amendment adds a "Price Oracle" feature to XRP Ledger, as defined in the XLS-47 specification. The XRPL price oracle is intended to store pricing information about asset pairs that exist outside of XRP Ledger, allowing smart contracts that rely on XRP Ledger to use this information.

A blockchain oracle is a system in which a service feeds information to the blockchain about the outside world, which may subsequently be accessed by decentralized apps (dApps) that run primarily on or with the blockchain.

Oracles provide a secure and efficient means of bringing real-world data onto a given blockchain system for smart contract use. This is particularly critical for institutional DeFi, which is central to XRPL.

XRPL’s Oracle is protocol-native, which means that it is built into the network itself and not a Layer 2, similar to XRPL’s AMM.

External oracles such as Band Protocol and DIA, which are currently integrated into XRPL, will also be able to connect and provide price feed data.

With the new XRPL price oracle and integrations with Band Protocol and DIA, XRPL's native oracles will be able to offer real-time data for key DeFi features like the AMM and lending protocols.

This represents a significant step forward for institutional-grade DeFi. The XRPL DID amendment went live last week, marking yet another significant milestone for XRP Ledger. DID is a unique, user-owned identifier that is not controlled by any central authority.

Use cases for XRP price oracle
Many upcoming XRPL protocols will require oracles, such as the XRPL Lending Protocol for lending rates and liquidation management, as well as the XRPL AMM and DEX for determining asset prices across all Web2 and Web3 marketplaces. The XRPL EVM Sidechain will also need it to support EVM smart contracts and quick data syncs between the mainnet and sidechain.

Tokenized assets would also require an XRP price oracle. In February, Ripple and Zoniqx announced a partnership that will bring Zoniqx's asset tokenization infrastructure to XRP Ledger. This would require that the prices of real-world assets be streamed on-chain in real time.

@ Newshounds News™

Source:  U Today

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CARDANO COMMUNITY DIVIDED ON CHARLES HOSKINSON’S ROLE AS BLOCKCHAIN EMBRACES DECENTRALIZATION

▪️Cardano has launched Node 10.11, a significant update that supports the Chang 2 hard fork.

▪️This upgrade empowers ADA holders and encourages active participation in Cardano's governance.

▪️Meanwhile, the Cardano community is divided on the role of the blockchain network's founder, Hoskinson.

Cardano has introduced Node 10.11, marking a major leap in the network’s journey toward decentralized governance.

On November 1, Intersect MBO, a Cardano-led member organization, launched Node 10.11 as the first mainnet release to support the Chang #2 inter-era hard fork. This upgrade transitions the network from its initial technical bootstrapping phase into a fully on-chain governance model.

Cardano’s Governance Evolution Continues with Chang #2
Node 10.11 includes features designed to empower governance within the Cardano ecosystem. 

Stake Pool Operators (SPOs) can now delegate their votes to preset options, and Delegated Representatives (DReps) gain an auto-abstain feature.

The update also enhances Cardano’s ledger, command-line interface (CLI), API, and networking code, creating a more robust foundation for governance and user interaction.

Intersect highlights the Chang 2 upgrade as the completion of Cardano’s move to fully on-chain governance, an evolution from the initial bootstrap model introduced in the first Chang upgrade.

This shift allows ADA holders—who since the Chang 1 update on September 1, have been able to delegate governance responsibilities to DReps or represent themselves—to play a more active role in the network’s decision-making processes.

Under the new Chang 2 framework, ADA holders must delegate to a DRep to withdraw staking rewards, although rewards will continue to accrue regardless of delegation status. Withdrawals will be possible only after delegating to a DRep or selecting the auto-abstain or no-confidence options. 

This would encourage active participation in Cardano’s governance structure as it moves closer to its decentralized vision.

“Following a successful Chang #2 hard fork, decisions on the Cardano blockchain will be shaped and voted on via fully decentralized governance, as detailed in CIP-1694,” Intersect stated.

Meanwhile, as Cardano enters this new phase, its founder, Charles Hoskinson, has engaged the community in a unique way. Following some recent public criticism, Hoskinson launched a poll on X (formerly Twitter) asking, “Is Charles Hoskinson a cancer for Cardano?”

As of now, the vote is nearly split, with the “no” responses holding a narrow majority at 51% to 49%. However, the poll has sparked diverse reactions across the community. Some prominent ADA supporters have defended Hoskinson and suggested the poll results might be influenced by bots or external factors.

Indeed, with six days remaining, the poll reflects the community’s mixed perspectives on Hoskinson’s role and influence within Cardano.

@ Newshounds News™

Source:  Be In Crypto

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🌱 LAYERS OF THE GLOBAL CURRENCY RESET & REVALUATION: WHAT YOU NEED TO KNOW!  |  YOUTUBE

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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BRICS Unit Backed by Gold to Shutdown US Financial Control

BRICS Unit Backed by Gold to Shutdown US Financial Control

Sean Foo:  11-2-2024

In a time of unprecedented financial evolution, today’s conversation between Sean Foo and Andy Schectman offers deep insights into the growing influence of BRICS nations (Brazil, Russia, India, China, and South Africa) and their potential to disrupt the Western-dominated financial landscape.

 As globalization reshapes the way economies interact, the global South is pivoting to establish a more autonomous payment platform, directly challenging the traditional supremacy of the US dollar.

The implications of these developments cannot be overstated, especially with the prospect of a new monetary unit that could be backed by gold.

BRICS has long been considered a coalition with aspirations extending beyond mere economic cooperation. As its members account for a significant portion of the world’s population and economic output, BRICS aims not just to enhance trade among its members but also to create an alternative financial ecosystem.

The recent push to develop a payment platform allows these nations to bypass Western-controlled payment systems, fostering greater financial autonomy and efficiency.

The establishment of an independent payments platform by the global South marks a pivotal shift in global trade dynamics. By creating a robust infrastructure for monetary transactions that does not rely on traditional Western mechanisms—like the SWIFT system—nations within BRICS and beyond can enhance their economic sovereignty.

This move is essential as countries increasingly seek to insulate themselves from external economic pressures and sanctions often wielded by Western powers.

In the discussion, Sean Foo and Andy Schectman emphasize the potential economic advantages of this platform. Nations within the alliance can expect reduced transaction costs, improved efficiency, and the opportunity to expand trade relations without the constraints imposed by Western financial institutions. Moreover, this initiative aligns with the broader geopolitical strategy of asserting financial independence and fostering regional ties.

Yet, the most compelling aspect of this conversation is the prospect of a new monetary unit, potentially backed by gold. As Andy Schectman points out, this represents a significant challenge to the existing Western financial systems. A gold-backed currency brings historic worth and inherent value, essentially revitalizing a time-tested standard that offers a hedge against inflation and currency devaluation.

The introduction of a gold-backed monetary unit would serve to stabilize currencies of the BRICS nations, potentially attracting other countries disillusioned with the volatility of the US dollar. It’s a strategic move that could reshape global power dynamics, leading to a shift away from a singular reliance on the dollar and creating a multipolar financial world.

The implications of these developments could be profound for the Western financial system. If countries are able to transact in an alternative currency that is stable and dependable, it undermines the dollar’s role as the world’s reserve currency. Given that the US and, by extension, its allies have relied heavily on dollar dominance to impose financial sanctions and leverage economic power, the emergence of a gold-backed unit poses a direct challenge to their authority.

As global economic interdependence shifts, we may witness a recalibration of how financial transactions are conducted, which could lead to greater economic resilience among nations within the BRICS framework.

In their timely discussion, Sean Foo and Andy Schectman shed light on the transformative journey of the global South as it seeks financial independence and reshapes the existing monetary order. The establishment of a payments platform among BRICS nations and the viability of a gold-backed currency highlight a strategic pivot that could disrupt the hegemony of the US dollar.

As we move into an era characterized by economic uncertainty and geopolitical tension, keeping an eye on the developments among BRICS nations is more essential than ever.

This emerging financial landscape may not only redefine trade relations but also signify a broader shift toward a multipolar world. The unfolding narrative of finance in the 21st century is far from complete, and the outcomes of these transformative changes will undoubtedly echo in global markets for years to come.

https://youtu.be/6eUca44ILm8

US Debt Default Inevitable, Only One Way to Stop it

US Debt Default Inevitable, Only One Way to Stop it

David Lin:  11-3-2024

In the ever-evolving landscape of the U.S. economy, one topic looms over discussions like a dark cloud: the potential for a debt default. According to John Deaton, Managing Partner of Deaton Law Firm and Senate Candidate for Massachusetts, this scenario is not only possible—it’s becoming increasingly inevitable unless decisive action is taken.

In a recent conversation with financial journalist David Lin, Deaton outlined the gravity of the situation and proposed solutions to avoid what could be one of the most significant financial crises in American history.

To fully grasp the seriousness of the impending default, we must first understand what the debt ceiling is and why it poses such a threat. The debt ceiling refers to the maximum amount of money that the U.S. Treasury can borrow to cover expenses that Congress has already approved. When this limit is reached, the government must either raise the ceiling or face the consequences of not being able to fund its obligations.

In recent years, political gridlock has made raising the debt ceiling a contentious issue. As the national debt climbs over $31 trillion, each new debate about raising the ceiling seems to bring us closer to the brink of default. According to Deaton, the stakes have never been higher; the nation faces the painful prospect of a fallout that could affect not only the economy but the lives of millions of Americans.

A U.S. debt default would send shockwaves through the global economy, destabilizing financial markets and eroding trust in America’s creditworthiness. The domino effect could cause interest rates to spike, investments to plummet, and create uncertainty in households and businesses alike.

Deaton points out that a default would not only harm economic growth but also impact critical programs like Social Security and Medicare. With so many lives at stake, the question arises: how do we avoid such a catastrophic scenario?

According to Deaton, the route to averting a debt default lies in bipartisan cooperation and fiscal responsibility. Leaders from both sides of the aisle must recognize that putting politics aside in favor of a long-term solution is essential. The U.S. government must adopt a more disciplined approach to budgeting, focusing not just on cutting spending but also on finding new sources of revenue.

Additionally, Deaton emphasizes the importance of restructuring how we think about the national debt. Instead of viewing it solely as a burden, he advocates for strategies that leverage the debt to stimulate economic growth. This includes investment in infrastructure, technology, and education, which could ultimately yield higher returns for the country.

To truly address the looming crisis, Deaton believes we need a paradigm shift in how we approach fiscal policy. This requires transparency in government spending and a commitment to addressing the root causes of our national debt. Politicians must be held accountable for their decisions, and the public must become more engaged in the conversation around economic policy.

The potential for a U.S. debt default is a pressing issue that cannot be ignored. As John Deaton eloquently pointed out in his discussion with David Lin, the only way to stop this impending crisis is through bipartisan leadership and a commitment to fostering a robust economy.

By rethinking our approach to national debt and focusing on long-term growth, we can safeguard the future of the American economy and avoid the disastrous consequences of default.

The time for action is now. It’s up to our leaders and citizens alike to advocate for responsible fiscal policies to ensure that the U.S. remains a pillar of economic stability on the global stage.

The road ahead may be challenging, but with collective effort and sound decision-making, it is one we can travel together.

https://youtu.be/WOSd6Qwa4JM

News, Rumors and Opinions Sunday 11-3-2024

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 Sun. 3 Nov. 2024

Compiled Sun. 3 Nov. 2024 12:01 am EST by Judy Byington

Judy Note:

On Fri. 1 Nov. 2024 the state of Texas was (allegedly) set up as home to the new Quantum Financial System for the new US Republic, with their currency being gold-backed US Treasury Notes. Texas has (allegedly) applied to be a part of BRICS.

It’s only wise to have at least a month’s supply of food, water, cash, medicine and essential items on hand for yourself, your family and to share with others in case of emergency.

Global Currency Reset:

Sat. 2 Nov. 2024 Wolverine: “I’ve just spoken to a high up contact. It’s defiantly here. There’s no doubt about it. It’s here.”

Sat. 2 Nov. 2024: Word via a banker from the higher ups is that an announcement will be made shortly after Tues. results is that in addition to the President, many changes will be following shortly. We will be getting the 800 numbers and begin scheduling appointments toward the end of the week, with those appointments (general public?) to be made around Tues. 12 Nov. 2024.

Sat. 2 Nov. 2024: Breaking! The BRICS Alliance, NESARA GESARA, Quantum Financial System (QFS) and Q Phones: The Deep State’s Greatest Fear Realized! – amg-news.com – American Media Group

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Global Financial Crisis:

Sat. 2 Nov. 2024 Banking Crash has begun. Oklahoma Bank shut it’s doors. https://x.com/therealkiyosaki/status/1852696565313605691?s=46

Sat. 2 Nov. 2024 EBS, Ten Days of Communication Darkness …Patrick B. Kennedy on Telegram

The E B S is going to air playing an 8 hour video. It will be replaying 3 times a day for 10 days Communication Darkness. During those 10 Days of Communication Darkness the following things will happen.

People are urged to stock up on at least three weeks of food and water. Be prepared with food, water, toilet paper, generators etc. for this great awakening reveal.

We are promised the new Star-link Internet System by the end of the month.

We will have new currency called the USN US NOTE and gold backed.

The time is now to alert as many who will listen. Do not have too much pride. Go warn those you love even though they think you’re crazy. Your goal for others is truly to help absorb the shock of what is coming.

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Sat. 2 Nov. 2024 The 30+1 Primary Provisions of NESARA GESARA: The Ultimate Blueprint for Global Transformation …David Wilcock on Telegram

1. Debt Forgiveness: All bank-related debts, including credit cards, mortgages, and loans caused by illigal banking practices, will be eliminated. This financial “jubilee” will free people from oppressive financial institutions.

2. Termination of the IRS: The IRS will be permanently shut down, and its employees will be reassigned to the new Treasury-based tax collection system.

3. Abolishment of Income Tax: Income taxes, including taxes on investments and retirement accounts, will be completely removed, as they were unconstitutionally imposed.

4. Flat-Rate Sales Tax: A 14% flat-rate sales tax will be introduced on new, non-essential goods (excluding food, medicine, and used items) to fund government operations, ensuring a fairer and more transparent tax system.

5. Restoration of Financial Privacy: New systems will be implemented to protect financial privacy, ending widespread data theft and hacking.

6. Re-indexing of Precious Metals: Gold, silver, and other precious metals will be re-indexed within 30 days of NESARA’s completion, stabilizing the economy.

7. Federal Reserve Phase-Out: The Federal Reserve will be dissolved over the course of a year, transitioning all monetary control to the U.S. Treasury.

8. Banking Reform: Banks will face new limits on rates and fees, while citizens gain stronger custody rights over their funds. Banks will be phased out over 3-5 years post-NESARA.

9. Boost to Senior Citizens’ Benefits: NESARA will increase benefits for senior citizens, ensuring financial support during their later years.

10. Global Peace Initiatives: The U.S. will cease all aggressive military actions, focusing on peaceful diplomatic relations worldwide.

11. QFS (Quantum Financial System): Most NESARA-related exchanges of foreign currency and bonds will be securely stored in blockchain accounts via the Quantum Financial System.

12. Humanitarian Project Funding: Large-scale funding will be provided for domestic and global humanitarian projects, allowing for widespread societal improvements.

13. Redemption of Currencies and Bonds: Individuals will have the opportunity to redeem or exchange their foreign currencies and ZIM bonds at specific rates for personal use and humanitarian projects.

14. Reclamation of Stolen Assets: Assets stolen by corrupt institutions, including the Federal Reserve and Wall Street, will be reclaimed and restored to rightful owners.

15. Return to Constitutional Law: NESARA will restore Constitutional Law within the U.S. legal system, eliminating unconstitutional practices.

16. Reinstatement of the Title of Nobility Amendment: Americans under foreign influence or control will lose their citizenship and be deported to prevent foreign interference in domestic affairs.

17. New Elections: Immediate Presidential and Congressional elections will be held within 120 days of NESARA’s announcement, wiping the slate clean of previous corrupt regimes.

18. New QFS Voting System: A revolutionary voting system based on the Quantum Financial System (QFS) will replace the current election system. Only those who have participated in NESARA benefits will be eligible voters.

19. Release of Suppressed Technologies: Over 6,000 hidden patents for advanced technologies, including free energy and medical cures, will be made public.

20. Privatization of the U.S. Postal Service: The USPS will be privatized to streamline operations and improve efficiency.

Read full post here:  https://dinarchronicles.com/2024/11/03/restored-republic-via-a-gcr-update-as-of-november-3-2024/

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

Militia Man  The Forex markets are really liquid markets.  Iraq is going to have a relationship with that in a not too distant future.

Frank26  Money exchange buildings...there's 100's of them inside of Iraq...And there's hundreds of them outside of Iraq...There are exchange centers and there are private banks that represent the CBI all over the world...

Walkingstick  IMO what's going on with these bank centers, this is another reason why they are sending the citizens of Iraq to these centers right now, in order to learn how to use these currency exchange centers.  Brilliant.  

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Urgent News from Iraq Air Defense System CBI and Development Road Project Update

Edu Matrix:  11-3-2024

In this urgent update, we bring you the latest developments on Iraq's Air Defense System, critical news from the Central Bank of Iraq (CBI), and important insights into the Development Road Project.

Get the most recent information on Iraq’s strategic defense upgrades and the implications these moves might have on Iraq’s economy, infrastructure, and the future of the Iraqi Dinar (IQD) rate.

https://www.youtube.com/watch?v=RwU3yotUQ3M

Iraq Economic News and Points To Ponder Sunday AM 11---3-24

Banking Association: Reducing Inflation Helped Stabilize Commodity Prices

Political | 02/11/2024  Mawazine News – Baghdad  The Private Banks Association confirmed today, Saturday, that the government's success in reducing the inflation rate to 3.8% helped stabilize commodity prices.

The Executive Director of the Private Banks Association, Ali Tariq, told Mawazine News Agency: "The Private Banks Association and the Central Bank of Iraq held a symposium entitled (The Statistics Cycle in Formulating Monetary Policy)," indicating that "the use of statistical data and information is a methodology adopted by the Central Bank of Iraq, especially in the recent period in making decisions, whether at the level of monetary policy or decisions that affect the economy in general."

He added that "the aim of the symposium is to clarify economic, financial and banking data to the public by specialists; to view the data published on the website of the Central Bank of Iraq; to clarify progress and shortcomings related to the financial sector or monetary policy."

Tarek stressed that “one of the important indicators is related to the banking sector, the size of deposits, or the size of the monetary mass and the distribution of deposits between the government and private banking sectors, in addition to the impact of credit and loans on the gross domestic product,” explaining that “

on the other hand, as economic indicators, the most important of which were inflation rates, which decreased significantly in the recent period to reach 3.8 percent,” noting that “this is considered an excellent rate that maintains the stability of commodity prices, and thus the price increase is less for the citizen.”  https://www.mawazin.net/Details.aspx?jimare=256297

Within A Week.. More Than One Billion Dollars In Sales From The Central Bank Of Iraq

Saturday 02 November 2024 15:22 | Economic Number of readings: 188  Baghdad/ NINA / The Central Bank of Iraq's total sales of hard currency for the dollar during the days in which the auction was opened last week exceeded one billion dollars.

The Central Bank sold, during the past week and for the 5 days in which the auction was opened, one billion, 396 million, 679 thousand, and 657 dollars, at a daily average of 279 million, 335 thousand, and 931 dollars, higher than the previous week, which amounted to one billion, 338 million, 650 thousand, and 762 dollars.

The highest sales of the dollar were last Tuesday, when sales amounted to 299 million, 165 thousand, and 952 dollars, while the lowest sales were on Monday, when sales amounted to 266 million, 165 thousand, and 952 dollars.

Foreign remittance sales during the past week amounted to 1 billion, 349 million, 829 thousand, and 657 dollars, an increase of 97% compared to cash sales, which amounted to 46 million, 850 thousand dollars. / End 7   https://ninanews.com/Website/News/Details?key=1165782    

$282 Million Is The Volume Of Sales Of The Central Bank Of Iraq In The Currency Auction

Banks  Economy News – Baghdad  The Central Bank of Iraq announced today, Sunday, its sales of hard currency, which amounted to more than 282 million dollars in today's transactions, according to the official price of 1310.

The bank's data showed that the total internal cash withdrawals amounted to $2,650,000, while the total amounts of transfers abroad, including remittances and credits, amounted to $279,414,798, while the total sales amounted to $282,064,798.   https://economy-news.net/content.php?id=49435

Iraq's Oil Exports To America Decline During The Week

Energy  Economy News – Baghdad  The US Energy Information Administration announced, today, Sunday, that Iraq's oil exports to the United States decreased during the past week.

The administration stated, in a table reviewed by "Al-Eqtisad News", that "the average US imports of crude oil during the past week from 10 major countries amounted to 5.299 million barrels per day, down by 348 thousand barrels per day from the previous week, which amounted to 5.647 million barrels per day."

She added that "Iraq's oil exports to America amounted to 216 thousand barrels per day last week, down by 21 thousand barrels per day from the previous week, which amounted to 237 thousand barrels per day."

The administration indicated that "the largest oil revenues for America during the past week came from Canada at a rate of 3.660 million barrels per day, followed by Mexico at an average of 621 thousand barrels per day, then Venezuela at an average of 250 thousand barrels per day, and Colombia at an average of 150 thousand barrels per day."

According to the table, "the amount of US imports of crude oil from Nigeria amounted to 145 thousand barrels per day, from Libya 89 thousand barrels per day, from Brazil 88 thousand barrels per day, from Ecuador 67 thousand barrels per day, and from Saudi Arabia at a rate of 13 thousand barrels per day. https://economy-news.net/content.php?id=49417

Parliamentary Investment And Development Committee Calls For Commitment To The “Investment Law”

Money and business  Economy News - Follow-up  The Parliamentary Investment and Development Committee called on the National Investment Commission and investment authorities in the governorates to oblige investors and developers to abide by the Investment Law, stressing the endeavor to amend its provisions to appear in the form of an integrated draft law that guarantees the investor's right and at the same time guarantees the state's right.

The committee stressed the importance of attracting real estate developers to contribute to the development of residential lands, in implementation of an item in the budget stipulating the necessity of distributing government lands after preparing them for housing. Committee member, Diaa Al-Hindi, explained in an interview with "Al-Sabah", followed by "Al-Eqtisad News", that "this item gives developers the opportunity to develop areas by paving roads and providing basic services, which makes them ready to receive residents, provided that the collection of revenues is allocated to them after the development process."

He pointed out that "current housing projects focus on building complexes that aim to achieve quick profits without paying full attention to the quality of infrastructure or services," noting that "most countries in the world are currently moving towards resorting to real estate developers to ensure an appropriate housing level that meets the needs of citizens and achieves sustainable development."

Regarding the laws that the Parliamentary Investment Committee is working on, Al-Hindi revealed that the committee has completed the "Industrial Investment" law, which is now ready for voting in Parliament, and has also completed discussing the "Investment Law Amendment" to present it as an integrated project that supports investment efforts in the country and encourages attracting local and international investors.

In turn, committee member Susan Mansour said, "The investment law exists and is legislated, and although it is relatively solid, some of its provisions are elastic and need to be amended, as it is one of the most important laws, especially at this stage when Iraq needs to open up to the economic world," indicating that "the investment law is the tool that properly regulates the investment process in the country."

She added, "Most investors do not adhere to the current investment law, calling on the National Investment Commission to adhere to the standards of the law and implement its provisions on investors in a real manner, so that investment in Iraq can rise and become an attractive international environment for investment."   https://economy-news.net/content.php?id=49415

Iraqi Post Makes Progress In Digital Transformation

November 2, 2024  Baghdad - Ibtihal Al Arabi  The General Post and Savings Company, affiliated with the Ministry of Communications, is developing its work on the digital transformation of financial transactions, by converting postal books into electronic cards.

The ministry’s spokesman, Omar Abdul Razzaq, said in a statement yesterday that (the company seeks to enhance the postal service and facilitate the use of postal books electronically, which allows citizens to view their balance and know all movements in their account through the electronic application), according to his expression,

noting that (the digital transformation operations achieved their desired goals of reducing corruption and manipulation of citizens’ deposits), Abdul Razzaq added that (this activity contributed to enhancing citizens’ confidence in the procedures adopted by the Post and Savings Company, within the framework of commitment to the directives of the government program that emphasize the importance of activating digital transformation and electronic payment instead of cash circulation of currency).

The Minister of Communications, Hiyam Al-Yasiri, discussed a package of issues related to the cybersecurity file, as a basic pillar of digital transformation, and how to protect electronic systems and personal data from digital hacking.

 A statement received by Al-Zaman yesterday stated that (a meeting was held between Al-Yasiri and the Information Technology and Cyber ​​Security departments, to review the ideas and opinions presented by the specialized technical teams, to reach a clear vision in preparing applicable analytical studies, keeping pace with the technological development that the countries of the world have reached).

Overcoming obstacles

Al-Yasiri stressed the "necessity of accelerating the pace of work, overcoming obstacles by the competent authorities in the ministry and its formations, and working to prepare professional cadres, in coordination with international companies." In a related context, the Supreme Judicial Council began activating electronic services in all appellate court presidencies.

A statement received by (Al-Zaman) yesterday stated that "it was decided to activate electronic services in all appellate court presidencies, for the systems of oaths and legal arguments, in a manner that ensures the framework of digital transformation adopted by the Council,"

indicating that "this step comes to enhance efforts to digitize judicial procedures," and the statement added that "digital transformation serves to improve the speed of completing transactions, facilitate communication between citizens and judicial authorities, abandon paper records, enhance operational efficiency in time and effort, enable quick and secure access to data and information, and ensure transparency and credibility in litigation procedures and judicial transactions."

Modern techniques

For its part, the Ministry of Interior is moving towards enhancing communications security, relying on modern technologies. Thamer Al-Hussaini, commander of the ministry's Rapid Response Division, said in a statement yesterday that (the Military Industrialization Authority is working to equip the Rapid Response Division with modern technical equipment that contributes in a way to supporting communications security), according to his expression,

stressing that (mutual support is essential for the development witnessed by security institutions). Al-Hussaini explained that (cooperation between ministries and government agencies serves to improve security performance and raise the capabilities of combat units, which enhances their readiness), pointing to (the provision of modern technical equipment by the Manufacturing Authority to improve the Ministry's communications security). LINK

Iraqi National Security Adviser Discusses Strengthening Cooperation With NATO Mission In Iraq

Iraqi National Security Advisor Qasim Al-Araji received today, Saturday, the Commander of the NATO Mission in Iraq, Lieutenant General Lukas Schroers, where the meeting discussed enhancing cooperation between Iraq and the NATO Mission and the importance of exchanging expertise and information between the two sides, with a focus on supporting and training the Iraqi security forces.

Al-Araji reiterated Iraq's keenness to work with the NATO Mission, stressing the importance of the mission's role in supporting the Iraqi forces as an advisory and training mission, not a combat one.

For his part, the Commander of the NATO Mission stressed the continued need to exchange expertise and mutual benefit, pointing to Iraq's long and accumulated experience in the security field, which enhances the opportunities for successful cooperation between the two sides. https://www.radionawa.com/all-detail.aspx?jimare=40042

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

Seeds of Wisdom RV and Economic Updates Sunday Morning 11-3-24

Good  Morning  Dinar Recaps,

COINBASE EXPANDS CFTC-REGULATED FUTURES WITH SILVER AND STELLAR (XLM) CONTRACTS

▪️Coinbase recently announced the launch of futures contracts for silver (SLR) and stellar lumens (XLM) through its Coinbase derivatives exchange.

▪️Coinbase’s futures contracts for these assets align with its mission to offer secure, accessible and regulated financial products.

Coinbase Derivatives’ primary goal in launching new cryptocurrency futures contracts is to create markets that offer retail traders diversification, price discovery, risk management and margin.

It has taken a significant step toward its goals with the launch of new futures contracts for silver (SLR) and Stellar (XLM).

These join the list of products already regulated by the CFTC, which includes LTC, DOGE, SHIB, AVAX, DOT, LINK, Gold, BTC, ETH, BCH and Oil. In its official account X announced that the contracts will be launched on November 11, 2024.

Coinbase Derivatives is a Commodity Futures Trading Commission (CFTC) registered contract marketplace that allows users to trade and hedge the price of digital assets. 

Derivatives are contracts that derive their value from an underlying asset or commodity, allowing you to gain exposure to an underlying asset without buying it.

The impact of Coinbase’s silver futures and XLMs
Coinbase’s official statement suggests that by combining traditional commodities such as Silver with cryptocurrencies such as Stellar, they aim to create a more comprehensive trading platform.

This approach aims to diversify opportunities, allowing investors to manage risk across different asset classes. The futures contracts they offer support effective pricing, meaning they help establish fair market prices and allow traders to respond with confidence to market changes.

The Stellar and Silver contracts are designed to increase market accessibility and are structured for retail trading with smaller contract sizes. 

Specifically, each Silver contract represents 50 troy ounces, while each Stellar Lumens contract is 5,000 tokens. With the introduction of these retail-sized contracts, Coinbase aims to encourage broader participation among retail traders who may be looking for affordable ways to enter the futures markets.

With silver being a new tradable asset for Coinbase, it reflects a push into the commodity markets. Silver futures offer users a means of hedging against inflation or other economic changes, as silver remains a traditionally stable asset in times of market volatility.

On the other hand, XLM is a decentralized open source network that allows for low-cost cross-border transactions between any cryptocurrency pair.

In addition, Stellar has a decentralized exchange (DEX) that allows users to trade assets on the network. In addition to its low-cost trading capabilities, Stellar uses a unique system, the Stellar Consensus Protocol (SCP), to process transactions faster and more reliably than many traditional networks.

In other developments, CNF reported that Robinhood announced its support for Stellar on its official X account on October 23. This allows EU users to deposit and withdraw XLM on the Robinhood app.

This is an important move for Robinhood and XLM, as flexibility in handling the currency can benefit both ecosystems. Despite a 1.94% drop in XLM’s price to $0.0914 in the last 24 hours, trading volume increased 10.74% to $54.29 million, indicating continued investor interest in XLM’s various use cases.

@ Newshounds News™

Source:  Crypto News Flash

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METAMASK DEV CONSENSYS: SEC CLAIMS UNSUPPORTED IN LAW

Ethereum infrastructure developer Consensys has filed its response to the U.S. Securities and Exchange Commission’s claims of federal securities law violations, adding to its lawsuits against the agency.

The SEC previously accused Consensys’ crypto wallet, MetaMask, of operating as an unregistered broker and securities issuer.

Consensys fully refuted the SEC’s allegations, criticizing the agency and its chair, Gary Gensler, for what it described as an unconstitutional attack on the decentralized finance ecosystem. Its court-submitted reply reaffirmed its stance and dissatisfaction with the SEC’s lawsuit.

This action is just the latest step in the SEC’s recent campaign to seize control over the future of blockchains and cryptocurrency, one of the fastest-growing and most innovative technologies in the world… The SEC’s attempt to impose its regulatory authority on this technology and insert itself into this crypto architecture is unsupported in the law — its claims must fail.

Consensys response to SEC suit

Before becoming the subject of an SEC probe, Lubin’s firm had sued the SEC over its Ethereum investigation. Agency prosecutors closed the inquiry and promptly filed a complaint against MetaMask’s creator. The SEC alleges that MetaMask facilitated illegal securities trading and that its staking service violated financial regulations.

Consensys countersued the regulator to determine whether the law grants the SEC regulatory oversight. Bill Hughes, a lawyer for Consensys, revealed that U.S. Judge O’Connor granted an expedited calendar for the case.

Meanwhile, CEO Joseph Lubin announced staff layoffs attributed to regulatory battles and macroeconomic factors, with Consensys reducing its workforce by 20%.

Several firms under pressure from SEC litigation may see the approaching U.S. general elections as a potential advantage. Digital asset companies have donated over $190 million to crypto-focused super PACs like Fairshake, outspending all other industries.

@ Newshounds News™

Source:  Crypto News

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🌱 WARREN BUFFETT PREFERS CASH AND WHY  | YOUTUBE

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

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Follow the Timeline 

Seeds of Wisdom Team™ Website

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Thank you Dinar Recaps

“Tidbits From TNT” Sunday Morning 11-3-2024

TNT:

Suspended laws await Al-Mashhadani’s “hammer”... Parliament Speakerfaces “complex” files and short time

The head of the Iraqi Center for Strategic Studies, Ghazi Faisal, believed that the suspended laws and draft laws that are still in the drawers of the House of Representatives will constitute a burden on the remainder of the current session under the leadership of the new Speaker of the House of Representatives, Mahmoud Al-Mashhadani.

Faisal said in an interview with Al-Mada, “Some laws will be postponed to the next session due to the selective approach followed by parties or blocs in the House of Representatives in legislating laws.”

He stressed that "there are about 50 laws referred to in the constitutional articles, and they are extremely important laws related to the implementation of the constitution. When they are not enacted, the constitutional articles related to them remain frozen and inactive."

Dozens of laws are still pending in the halls of the House of Representatives, awaiting approval for months, and some of them have been frozen for years due to disagreements between political blocs over them or proposals to amend them.

For his part, political analyst Omar Al-Nasser said in an interview with Al-Mada, “Mashhadani will face multiple challenges, most notably unifying the Sunni ranks and unifying his discourse, in addition to dealing with the file of ministerial amendments that Al- Sudani intends to propose, which is a complex path that requires consensus between the forces and parties.”

Al-Nasser explained to Al-Mada that “Al-Mashhadani will face a number of challenges, most notably the suspended laws, the relationship between Baghdad and Erbil, and regional tensions. If he is able to deal with these files in a positive way , he may contribute to restoring confidence between the citizen and the political class.” link

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

Tishwash:  Parliamentary Finance to NINA: Approval of 2025 general budget schedules after legislative recess

The Parliamentary Finance Committee revealed the date for approving the schedules of the Federal General Budget Law for the new year 2025.

Committee member, MP Moeen Al-Kazemi, stated in a statement to the National Iraqi News Agency / NINA /, that "the Council of Representatives will enter the legislative recess on the ninth of this month, and there is a trend to extend the work of the sessions for only one month, after which the schedules of the General Budget Law 2025 will be approved."

He added, "After settling the issue of electing the Speaker of Parliament, the conditions are now ready and favorable for approving the four laws: the draft amendment to the General Amnesty Law, the proposed Personal Status Law, the draft law on military service and retirement for the Mujahideen of the Popular Mobilization Forces, and the draft law to return the properties covered by the decisions of the dissolved Revolutionary Command Council to their owners."

He continued, "There is an expected ministerial change, and this places the parliamentary committees before an important and great responsibility to activate their role in following up on the work of the government. It also requires more understanding and harmony in the State Administration Coalition to approve the change of some ministers.  link

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

Tishwash:  Parliamentary Investment and Development Committee calls for commitment to the “Investment Law”

The Parliamentary Investment and Development Committee called on the National Investment Commission and investment authorities in the governorates to oblige investors and developers to abide by the Investment Law, stressing the endeavor to amend its provisions to appear in the form of an integrated draft law that guarantees the investor's right and at the same time guarantees the state's right.

The committee stressed the importance of attracting real estate developers to contribute to the development of residential lands, in implementation of an item in the budget stipulating the necessity of distributing government lands after preparing them for housing. Committee member, Diaa Al-Hindi, explained in an interview with "Al-Sabah", followed by "Al-Eqtisad News", that "this item gives developers the opportunity to develop areas by paving roads and providing basic services, which makes them ready to receive residents, provided that the collection of revenues is allocated to them after the development process."

He pointed out that "current housing projects focus on building complexes that aim to achieve quick profits without paying full attention to the quality of infrastructure or services," noting that "most countries in the world are currently moving towards resorting to real estate developers to ensure an appropriate housing level that meets the needs of citizens and achieves sustainable development."

Regarding the laws that the Parliamentary Investment Committee is working on, Al-Hindi revealed that the committee has completed the “Industrial Investment” law, which is now ready for a vote in Parliament, and has also completed discussing the “Investment Law Amendment” to present it as an integrated project that supports investment efforts in the country and encourages attracting local and international investors.

In turn, committee member Susan Mansour said, “The investment law exists and is legislated, and although it is relatively solid, some of its provisions are elastic and need to be amended, as it is one of the most important laws, especially at this stage when Iraq needs to open up to the economic world,” indicating that “the investment law is the tool that properly regulates the investment process in the country 

She added, “Most investors do not adhere to the current investment law, calling on the National Investment Commission to adhere to the standards of the law and implement its provisions on investors in a real manner, so that investment in Iraq can rise and become an attractive international environment for investment.”link

Mot: .. Extra Sleep there is -- unless ---

Mot: Gunna be Interesting I Thinks!!!! 

Mot: ...... Getting Ready she is!!! 

BRICS is loading up on GOLD and SILVER - is this the new financial order?

BRICS is loading up on GOLD and SILVER - is this the new financial order?

Jay Martin Show:  11-2-2024

In this interview, Jay Martin and Andy Schectman discuss the outcomes of the 2024 BRICs summit, highlighting growing global financial alliances and alternatives to Western-led systems.

They explore the increasing influence of the BRICs nations in forming new frameworks for cross-border transactions and commodity exchanges outside the dollar-dominated SWIFT system.

Schectman emphasizes the broader implications of the summit’s outcomes, including initiatives like BRICs Pay and BRICs Clear, which aim to enable more regional economic independence.

They also touch on a lesser-known bank failure in Oklahoma as a potential sign of financial instability in the U.S., underscoring a potential shift in global financial power dynamics.

01:31 - Recap of the BRICs Summit: What Were the Key Takeaways?

05:31 - Diverging Mandates: Are BRICs Countries United or Divided in Their Goals?

08:07 - Hidden Tensions: Is BRICs Unity a Temporary Alliance?

21:13 - SWIFT vs. Ambridge: The New Currency System That Could Challenge the Dollar

22:58 - What Prompted the U.S. to Push Back on BRICs’ Currency Plans?

 33:06 - Shifting Strategies: From Paper Contracts to Hard Asset Accumulation

43:08 - Poland’s Gold Accumulation: A Signal of Financial Independence?

 50:39 - Oklahoma Bank Failure: Setting a Precedent for Bail-ins?

58:11 - FDIC Limits: Are Uninsured Deposits Truly at Risk?

https://www.youtube.com/watch?v=hZEd4-29pws

More News, Rumors and Opinions Saturday PM 11-2-2024

KTFA:

Toyvp:  Parliamentary Finance to NINA: Approval of 2025 general budget schedules after legislative recess

Baghdad / NINA / The Parliamentary Finance Committee revealed the date for approving the schedules of the Federal General Budget Law for the new year 2025.

Committee member, MP Moeen Al-Kazemi, stated in a statement to the National Iraqi News Agency / NINA /, that "the Council of Representatives will enter the legislative recess on the ninth of this month, and there is a trend to extend the work of the sessions for only one month, after which the schedules of the General Budget Law 2025 will be approved."

He added, "After settling the issue of electing the Speaker of Parliament, the conditions are now ready and favorable for approving the four laws: the draft amendment to the General Amnesty Law, the proposed Personal Status Law, the draft law on military service and retirement for the Mujahideen of the Popular Mobilization Forces, and the draft law to return the properties covered by the decisions of the dissolved Revolutionary Command Council to their owners."

He continued, "There is an expected ministerial change, and this places the parliamentary committees before an important and great responsibility to activate their role in following up on the work of the government. It also requires more understanding and harmony in the State Administration Coalition to approve the change of some ministers." / End

https://ninanews.com/Website/N.....ey=1165792

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Toyvp:  Banking Association: Reducing inflation helped stabilize commodity prices

Economy News - Baghdad

The Private Banks Association confirmed, on Saturday, that the government's success in reducing the inflation rate to 3.8% helped stabilize commodity prices.

The Executive Director of the Private Banks Association, Ali Tariq, said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "the Private Banks Association and the Central Bank of Iraq held a symposium entitled (The Statistics Cycle in Formulating Monetary Policy)," indicating that "the use of statistical data and information is a methodology adopted by the Central Bank of Iraq, especially in the recent period in making decisions, whether at the level of monetary policy or decisions that affect the economy in general."

He added that "the aim of the symposium is to clarify economic, financial and banking data to the public by specialists; to view the data published on the website of the Central Bank of Iraq; to clarify progress and shortcomings related to the financial sector or monetary policy."

Tarek stressed that “one of the important indicators is related to the banking sector, the size of deposits, or the size of the monetary mass and the distribution of deposits between the government and private banking sectors, in addition to the impact of credit and loans on the gross domestic product,” explaining that “on the other hand, as economic indicators, the most important of which were inflation rates, which decreased significantly in the recent period to reach 3.8 percent,” noting
that “this is considered an excellent rate that maintains the stability of commodity prices, and thus the price increase is less for the citizen."

https://economy-news.net/conte.....p?id=49412

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

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

Frank26  [Iraq boots-on-the-ground report]  FIREFLY:  We are losing billions daily due to the oil not running into the pipelines into Turkey.  That is because we need a rate for the HCL and the real effective exchange rate.  FRANK:  All we're waiting for is that new exchange rate.

Militia Man  The optics are great for the country because they have all three presidencies in place at this stage.  You're going to see some of the language that's going to be used by one of the presidents, now there's three...The new guys has already done a good job.  He knows the ropes...His past history dates back a long time...2003/2004 in  that ear...  It's over, the country has a new Speaker of the House of Representatives.  Congratulations to the legitimacy of the government.

Dollar Downfall – ‘This Is as Big as When We Closed the Gold Window’ | Matthew Piepenburg

Kitco News:  11-2-2024

The U.S. economy is facing a hidden debt crisis that makes growth ‘mathematically impossible,’ warns Matthew Piepenburg.

 In this interview with Kitco News Anchor Jeremy Szafron, Matthew Piepenburg, partner at Von Greyerz and author of Rigged to Fail and Gold Matters, analyzes October’s weak job growth, third-quarter GDP slowdown to 2.8%, and rising inflation, as reflected in the core PCE index’s 2.7% year-over-year increase.

Piepenburg argues that these figures barely scratch the surface, pointing to what he sees as an ongoing recession for many Americans.

He dives into the global pivot toward gold as faith in fiat currencies wanes and explains why Modern Monetary Theory may offer only short-term relief at best.

00:00 Introduction:

 Latest Macro Indicators

02:34 Global Economic Outlook

 05:06 Debt Crisis and Market Reactions

06:54 Recession Indicators

 08:53 Debt & Economic Growth

11:37 Central Banks, Gold & De-dollarization

34:01 Seismic Shift Away from the Dollar

35:10 BRICS and Gold-Backed Settlements

39:48 Central Bank Digital Currencies (CBDCs)

 40:54 Geopolitical Moves & the Petrodollar

48:29 America's Changing Global Role

 51:43 US Election

54:08 Gold as a Strategic Reserve Asset

 57:06 Gold Price Outlook

https://www.youtube.com/watch?v=1LH3SRAdH3U

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 11-2-24

Good Afternoon Dinar Recaps,

COINBASE FINDS OVER '20 EXAMPLES' OF FDIC TELLING BANKS TO AVOID CRYPTO

Coinbase's chief legal officer declares that the “contents are a shameful example of a government agency trying to cut off financial access to law-abiding American companies.”

Cryptocurrency exchange Coinbase has discovered “over 20 examples” of the United States regulator advising US banks to steer clear of crypto-related banking services, according to its chief legal officer.

The discovery follows Coinbase filing two Freedom of Information Act (FOIA) requests against the Federal Deposit Insurance Corporation (FDIC) — the US agency insuring bank deposits — demanding they disclose information about the ongoing crypto crackdown among US banks.

Public ‘deserves transparency,’ says Coinbase CLO
“So far, we’ve uncovered more than 20 examples of the FDIC telling banks to “pause” or “refrain from providing” or “not proceed” with offering crypto-banking services,” Coinbase chief legal officer Paul Grewal claimed in a Nov. 1 X post.

Most of the cases provided were similar. In one case, outlined in “Document 5,” the FDIC reportedly called a meeting with a bank to scrutinize its crypto services.

Despite the bank providing further documentation after the meeting, the FDIC allegedly raised additional “questions” and advised the bank, “Until such review is completed, the bank should not expand the service to additional customers.”

Meanwhile, on Oct. 30, Cointelegraph reported that Coinbase is “prepared to work with either administration” in the US, whether Democratic candidate and Vice President Kamala Harris or Republican Donald Trump wins the presidency, ahead of the election on Nov. 5.

@ Newshounds News™

Source:  CoinTelegraph 

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RIPPLE LAUNCHES GUIDE TO SUPPORT BANKS IN $20 TRILLION DIGITAL CUSTODY SECTOR

▪️Ripple has unveiled a guide to support banks and financial institutions interested in the emerging field of digital asset custody as it enters the $20 trillion custody market.

▪️Ripple Custody is relied upon by top global financial institutions and supports custodian banks, exchanges, and corporations in more than 15 countries worldwide.

Ripple, traditionally known for its cross-border payment solutions using blockchain, is broadening its business model. By advancing its asset custody capabilities, it’s taking on a role in the financial sector that extends beyond payments. 

The custody market is huge, worth $20 trillion, and Ripple’s entry into this space represents a significant shift in its business focus.

According to a previous publication by CNF, Ripple’s custody service has seen substantial growth, boasting a 250% rise in new customers compared to the previous year.

The platform currently supports prominent financial institutions and cryptocurrency companies across major markets such as the U.S., U.K., and Singapore.

Ripple highlighted in its Digital custody Guide for Banks that 10% of all assets will have been tokenized and represented on both private and public blockchains by 2030.

Ripple’s Quick Guide for Banks
Ripple’s digital asset custody and tokenization infrastructure offers banks advanced tools to securely manage and expand their digital asset services, opening up a range of innovative business opportunities. 

Banks can build sub-custody networks, which help facilitate comprehensive global service coverage, enabling them to efficiently manage assets across multiple regions.

With the capability to tokenize and manage both regulated and non-regulated assets, banks can diversify their offerings to include equities, bonds, certificates, debt instruments, real estate, fund structures, as well as unique assets like art, collectibles, gaming items, and intellectual property.

Ripple’s platform also provides secure integration with DeFi and Web3 applications, allowing banks to connect clients with staking, lending, borrowing, and financing services, as well as NFT platforms and marketplaces. This robust and flexible infrastructure equips banks to meet evolving market demands expanding their digital asset services in a compliant manner.

Past Initiatives in the Digital Custody Market by Ripple
The digital infrastructure provider unveiled new features for Ripple Custody Technology in early October.

In an effort to strengthen its regulatory compliance, the company added transaction screening that helps financial institutions monitor transactions for compliance by partnering with Elliptic.

Doubling down its effort, it also expanded its use of hardware security modules (HSMs), which are specialized devices that protect cryptographic keys.

On top of that, we reported Ripple custody’s integration into the XRP Ledger (XRPL), featuring a dedicated tool for monitoring anti-money laundering risks, allowing firms to access its native decentralised exchange (DEX). This integration aims to enhance security while opening new opportunities for businesses in the digital asset space.

Through these updates, Ripple extends the capabilities of its custody technology to a broader audience. As of now, at the time of writing, Ripple (XRP) is trading at $0.5137, a slight dip of 0.06% in the past day and down 0.19% increase in the past week.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

LATEST RIPPLE VS. SEC UPDATE: BILL MORGAN SLAMS SEC’S XRP CLAIMS IN APPEALS BATTLE

▪️XRP trading volume surges 40% amidst ongoing Ripple-SEC lawsuit appeals.

▪️Legal experts debate XRP's classification as a security, focusing on the "embodiment theory" and transaction context.

▪️The outcome of the appeals process could significantly impact XRP and other cryptocurrencies.

XRP, the seventh-largest cryptocurrency by market capitalization, is making waves in the crypto market. In a dramatic 24-hour surge, trading volumes have skyrocketed by over 40%. This unexpected spike comes on the heels of new developments in the high-stakes legal battle between Ripple and the SEC.

Is this (finally) the beginning of a new chapter for XRP?

SEC Update: A Turning Point?
Just last week, the SEC announced that it would submit its principal brief in the ongoing appeals process by January 15, 2025. While this is happening ongoing discussions are happening on X by the legal community on XRP status here’s what the lawyers have to say on the whole speculations.
XRP’s Classification Horror Continues
XRP is currently facing the last stages of a legal battle regarding whether it should be classified as a security. Lawyer Bill Morgan, along with social media commentators Joe Sho and James Farrell, has weighed in on this issue. Morgan, known for his critical stance on the SEC’s arguments, disputes Sho’s claim that the Appeals Court may label XRP as a security.

Sho argues that a “de novo” review by the Appeals Court could overlook previous findings and interpret XRP as an investment contract. This view aligns with other crypto cases, including Judge Rakoff’s recent ruling in the Terra case.

The Embodiment Theory Explained
Morgan’s analysis provides a more nuanced perspective than the random theories often found in the crypto space. He highlights the “embodiment theory,” which suggests that XRP should be viewed as an asset rather than a security.

Morgan points out that Judge Torres’s ruling—determining that XRP itself is not inherently an investment contract—was appropriate because it distinguished between the asset and the context of the transaction.

He believes this approach is more logical, even if it diverges from current crypto case law or the SEC’s position. According to Morgan, the SEC continues to argue that XRP’s perceived lack of inherent value means any transaction involving it counts as an investment contract, especially concerning Ripple and possibly broader secondary markets.

The Implications of a De Novo Review
Adding another layer of complexity, James Farrell notes that a “de novo” review allows the Appeals Court to adopt the “embodiment theory” or completely reinterpret XRP’s classification. 

This means the court could follow Judge Rakoff’s lead from the Terra case, where assets like UST and LUNA were seen as securities based on their use in investment contexts, possibly challenging the initial district ruling on XRP.

While Morgan acknowledges the Appeals Court’s freedom to reassess the situation, he warns that any move to consider XRP itself as a security would misinterpret the judge’s focus on the difference between asset and transaction.

The outcome of this debate could set a major precedent for XRP and other cryptocurrencies, as it questions whether digital assets are inherently securities or only become such within specific transaction contexts.

The future of XRP and the broader crypto industry hangs in the balance. At this point, are we just moving in circles?

@ Newshounds News™

Source: CoinPedia  

~~~~~~~~~

🌱 FRANKLIN TEMPLETON A GAME CHANGER | Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

🌱 AUDIO INTEL AND MORE WITH BOB LOCK, JIM SILVER 57, R JAX AND LOWTIDE. GREAT INFO.  |  YOUTUBE

If you missed the Constitution Call last night, here is the replay.  We started off with any NEW news from Mason and Jim, INTEL.  We were Joined by Bob Lock.  Lots of great info including Election News near the end.

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

Iraq News Highlights and Points To Ponder Saturday Afternoon 11-2-24

Al-Sudani's Advisor Reveals The Positives Of The Central Bank's Interest Rate Cut

Information/Baghdad…The Prime Minister's Advisor for Economic Affairs, Mazhar Muhammad Salih, said that the Central Bank's decision to reduce interest rates to 5.5% encourages lending.

Mazhar Muhammad Salih said in an interview followed by Al-Maalouma Agency, "The Central Bank's process of reducing interest rates to 5.5% represents an expansionary policy, because it is assumed that when this rate is reduced, all banks will do the same, whether on loans or deposits."

He pointed out that "in terms of deposits, this decision does not encourage people to put their money in the bank, but it encourages lending." He pointed out that "banks have a lot of surpluses, and they are encouraged to grant more credit." LINK

What Are The Positives Of The Central Bank Reducing Interest Rates? Al-Sudani’s Advisor Explains

Money and business   Economy News – Baghdad  The Prime Minister's Advisor for Economic Affairs, Mazhar Muhammad Salih, said that the Central Bank's decision to reduce interest rates to 5.5% encourages lending.

Saleh said, "The Central Bank's reduction of interest rates to 5.5% represents an expansionary policy, because it is assumed that when this rate is reduced, all banks will do the same, whether on lending or on deposits."

He pointed out that "in terms of deposits, this decision does not encourage people to put their money in the bank, but it encourages lending," noting that "banks have a lot of surpluses, and they are encouraged to grant more credit."

"Most banks have not reached 75% of credits"

Regarding cash credits, the Prime Minister's advisor for economic affairs explained that they "should represent 75% of deposits," adding that "most banks have not reached this percentage, especially private banks, so banks can reach this percentage through this process, where they lend and move their interest, and it is an attempt."

Regarding the extent to which the interest rate in Iraqi banks is equal to that of banks in the region, Saleh said, “Banks are not obligated to adhere to this rate, and it is a reference to monetary policy.”

It is noteworthy that the Central Bank of Iraq decided on Thursday (October 24, 2024) to reduce the annual interest rate between it and the banks registered with it from 7.5% to 5.5%, and to reactivate the work of securities (Islamic certificate of deposit and money transfers) between it and the banks operating in Iraq, with an annual return of 4% for a period of 14 days, and an annual return of 5.5% for a period of 182 days.

Financial Liberation

The Prime Minister's Advisor for Economic Affairs noted that "banks have the right to lend and borrow at the interest rate they deem appropriate, in accordance with the decisions of their boards of directors. This is called financial liberalization, which has been adopted since 2004."

The Central Bank of Iraq had set the maximum investment ceiling not to exceed 50% of the total private sector deposits at the bank, and that the bank’s investment ceiling in a single auction should not exceed (500) billion Iraqi dinars.   https://economy-news.net/content.php?id=49383

“A Fraudulent Maze” Reveals “Thorny” Files That Swallow The Pockets Of Iraqis

Posted on 2024-11-01 by sotaliraq   An informed government source revealed a financial corruption file related to the collection of energy consumption fees from hotels, malls, and other commercial and entertainment complexes in the capital, Baghdad, where billions of dinars are wasted monthly through “administrative loopholes,” stressing that the Ministry of Electricity discovered one of those files during the past month.

The source reviewed documents related to the latest file discovered by the Ministry of Electricity, confirming that it is “one example of other files in the same regard,” but he stipulated that the documents not be published for special reasons.

Whales And Big Heads”

In detail, he says, “Financial corruption in collecting electricity consumption fees is very large, and those involved are big heads and whales supported by political parties. However, it is through a chain that begins with small employees, but these are a front for those who are bigger than them, and if one of the files is revealed in some way, these people are the scapegoats, but with administrative penalties that are not commensurate with the size of the corruption,” he said.

He explains, “The recent corruption file in the collection of wages, after it was exposed by a member of the House of Representatives, caused the officials in the Ministry of Electricity to be embarrassed and it was necessary to take action to cover up the matter, so penalties were issued by dismissal from office and transfer from one department to another, while it is a file of embezzlement or at the very least a waste of public money that is supposed to be referred to the Integrity Commission for adjudication.”

The government source provides an introduction to how to calculate electricity consumption fees according to what was approved by the government of former Prime Minister Haider al-Abadi, explaining, “Consumption fees were divided into five categories: domestic, commercial, industrial, agricultural, and governmental. Each category has its own fees, the lowest of which is the cost of domestic consumption, which is divided into four categories:

the first category is 10 dinars per unit (the unit is the amount of consumption measurement), the second category is 35 dinars (i.e. if the home consumes more than one consumption unit), the third category is 80 dinars (the home consumes three consumption units), and the fourth category is 120 dinars (the home consumes four consumption units).”

The source commented on this by saying, “Whoever thinks that electricity consumption fees in Iraq are low is mistaken. In fact, they are among the high fees, if not the highest, in the countries of the region.

A family that operates three or four cooling devices in the summer earns no less than 200 thousand dinars per month. However, at the peak of the heat, or when using multiple heating devices or an electric cooker, the fees double, but people do not know this, and therefore many families are surprised by high fees in areas and residential complexes that do not rely on electric generators.”

Infallible” From Consumption Fees

Returning to the recent corruption file, the source explains, “The events of the file are taking place in the General Company for Electricity Distribution in Baghdad/Rusafa Electricity Distribution Branch, as some hotels that fall within the commercial consumption section have not paid electricity fees for years, but the fees of one of them were settled fraudulently.”

He continued, “A famous hotel in the Karrada area in the center of the capital, Baghdad, paid its consumption fees in a proper manner, but what happened and was discovered later was that the fees paid by the hotel management were registered in the name of another hotel only one kilometer away from the paid hotel, whose management was surprised by a new consumption list that came to it and included previous debts that it had already paid, but they were registered in the name of the other hotel.”

He points out that “all hotels in Baghdad are owned by a mix of the government and investors, meaning that they are private hotels and the government has a limited share in them, and their electricity consumption costs billions,” as he described it.

The source indicates that the file and the documents that I have reviewed also include “one of the malls in central Baghdad that was registered as a disabled account, or as they call it functionally in the Ministry of Electricity (3 nines), which means that a technical error occurred by the data entry employee during the (punching and transferring) process, which is the process of recording data for the household, commercial, industrial, agricultural or governmental unit, other than what is in the basic database kept by the Baghdad Electricity Distribution Company, and thus there is a conflict in the data and the recording of consumption fees for this account is stopped.”

Repairing a malfunction is very easy, especially if the database is available and saved, but the problem is that this repair, which is supposed to take only minutes, hours or even days, takes months and years, and therefore the owner of the disabled account does not pay any fees during this period, and when it is discovered by an official or a supervisory body, the concerned body, represented by the Baghdad Rusafa or Karkh Company or the Ministry of Electricity, does what is called a (settlement) and forms a committee, or even the sales department manager assumes an estimated number for consumption fees, which are usually in the billions of dinars, but the settlement is made with a few million dinars and the matter ends, if it is discovered.”

After this maze of numbers, fraudulent methods and manipulation of the state’s capabilities and financial revenues, which the current government is trying to maximize and diversify to get rid of “oil slavery”, especially after it reached dangerous stages for nearly ten years due to the dangerous fluctuation in oil prices due to global crises, such that between one year and another or between one government and another, warnings appear that the Iraqi state will be unable to pay the salaries of employees, retirees and beneficiaries of social welfare. After the above, it is necessary to take a deep breath before diving into other details of this file.

Negative Debt

The source says, “There is something called negative debt, and this not only exempts its owners from paying consumption fees, but it also means that the state is the one paying on their behalf. 414 lists of negative debts were discovered,” and the agency is withholding mentioning to whom these lists belong.

The source explains, “The negative debt is that a citizen receives a consumption list for 50 thousand dinars, so he goes and pays it, but the data entry employee makes a mistake and writes 150 thousand dinars instead of 50 thousand dinars during the punching and transfer process, and when it reaches the main database in the company, it is indicated that there is 100 thousand dinars in excess of the account.”

He added, “Therefore, the state is required to pay this citizen this amount, so the settlement is made so that the citizen does not pay the wages until the amount of 100 thousand dinars is received, while the citizen did not pay this amount in the first place, nor did the employee who made the mistake receive an additional amount.”

The source explains, “The game is not about the ordinary citizen, the owner of a simple shop or household consumption, but rather it is related to the owners of commercial, industrial and agricultural accounts. Their consumption fees are in the billions of dinars. One of them may have a consumption fee of 10 million dinars, so he pays a million dinars in wages and a million dinars in bribes, and the employee makes a mistake and adds a zero to the ten million dinars by mistake, so this consumer has paid the ministry 100 million dinars, and thus the state owes him 90 million dinars.”

The Company That “Punctured” The State

The source discusses another aspect of the file that was recently discovered and is related to one of the “privatization” companies to which the state has become indebted for financial dues for four years without this company performing any service or work or even spending a single dinar other than the bribe amount for the concerned official.

He explains, “The sales department manager signed a joint receipt with the company to deliver the electricity network and subscribers in one of the residential areas before obtaining the necessary approvals or even informing the branch of the Rusafa Distribution Company of the contract, which means that the company has become responsible for collecting electricity consumption fees before obtaining official authorization to do so.”

He added, “The Rusafa Distribution Company branch did not sign the contract until four years after that, and at that time the National Company demanded from the Rusafa branch its share of the consumption fees for the past four years, even though it did not provide any services and did not even collect the consumption fees, since the collection of fees was done by the Rusafa branch, as is customary in this residential area.”

He points out that “the company not only did not provide any services, but the state is now indebted to the company for its shares stipulated according to the hypothetical contract, meaning that the state is obligated to pay profits to this company that did not spend a single dinar except for the bribe amount to the bribed director.”

It is worth noting that the Federal Financial Supervision Bureau issued a report on March 19, 2019, revealing that three companies are supervising the process of collecting electricity fees on the Rusafa side, and owe 49 billion dinars to the Ministry of Electricity.

The court said that “Al-Noor Al-Thaqib Company implemented the service and collection contract in 21 neighborhoods distributed over three areas: Zayouna, Palestine Street, and Al-Ghadeer.

Al-Rafidain Space Company implemented the service and collection contract in 42 neighborhoods distributed over the areas of Al-Rusafa Center, Al-Sulaikh, and Al-Krayat, while Ahl Al-Wasal Company implemented the service and collection contract in 15 neighborhoods, specifically in the areas of Al-A’dhamiyah and Cairo, as well as Nakheel Middle East Company in 51 neighborhoods distributed over the areas of Al-Karrada, New Baghdad, Diyala Bridge, and Al-Zafaraniya.”

The report indicated that “the investing companies did not commit to obtaining an investment license according to the letter of the National Investment Authority, and the contracts concluded with the Ministry of Electricity did not include a penalty clause in the event that the investment companies were late in issuing the investment license.”

He pointed out that “Al-Rafidain Space Company achieved financial revenues for the months of November and December 2017, amounting to 305.5 million dinars, noting that its contract with the Ministry of Electricity obligates it to achieve 8 billion dinars per month.”

According to the report, “citizens’ payment indicators ranged between 0-54%, which requires the Electricity Directorate to urge investing companies to increase payment indicators in order to achieve financial amounts that contribute to maximizing financial resources.”

The report confirmed that “the total energy sold to Ahl Al Wasl Company amounted to 16.4 billion dinars, while the debts owed by the company amounted to 6.7 billion dinars, and the debts owed by Nakheel Middle East Company amounted to 36.5 billion dinars, and Al Noor Al Thaqib Company amounted to 5.8 billion dinars.”  LINK