Seeds of Wisdom RV and Economic Updates Monday Afternoon 11-4-24

Good Afternoon Dinar Recaps,

THE DAO DILEMMA: STRIVING FOR DECENTRALIZATION
The idea of a decentralized autonomous organization (DAO) is kind of incredible, when you really think about it.
What is a DAO?
A DAO is like a private company that is perfectly okay with hundreds of token (equity) holders debating publicly on an open forum about product and organizational strategy.

A private company where the core security underlying the company’s product (smart contracts) are fully viewable, where all the data you need to write a scathing data analysis on a company you don’t like is readily available.

In the non-Web3 world, markets would kill to have any clue as to what their competitors are thinking of launching, let alone detailed forum discussions of how that conversation is taking shape.

Having all that information out in the open would invite endless media and regulatory scrutiny, taking precious time away from actually building to fend off annoying lines of inquiry.

These are handicaps that no startup wants. And yet in Web3, $21.4 billion of value rests on these norms. In Web3, it’s par for the course.

Of course, most DAOs are actually only partially decentralized.

When Uniswap announced its plans around Unichain last month, Stanford Blockchain Club’s head of governance Billy Gao said the announcement left most DAO delegates “in the dark,” and excluded them via their lack of “a voice at any stage of the process — whether through forums, private discussions or any other means.”

It’s not just Uniswap either. Optimism DAO’s governance contracts are not controlled by its tokenholders, so voting with OP largely serves as an informal signal to the Optimism Foundation (for now).

And it’s widely known that most DAO treasuries or smart contracts are still controlled by a few trusted stakeholders via a multisig wallet.

So when we tout DAOs as decentralized autonomous organizations, in truth, there are many shades of gray within that spectrum of decentralization. The devil’s in the details.

When I asked Tally founder and CEO Dennison Bertram about it, he begrudgingly agreed that DAOs have a ways to go regarding decentralization, but also that partial transparency is still better than complete opaqueness, which would be “much more dangerous.”

Bertram pointed to how Twitter/X under Elon Musk could unilaterally turn off its API, or how Facebook choked off the wildly popular FarmVille game by Zynga from its platform.

Yet, despite the many shortcomings around DAOs, the real silver lining — I think — is the industry’s overarching commitment to the values of decentralization, which to me seems wildly underrated.

DAOs can hand-wave and virtue signal about decentralizing all they like, but the fact that they operate in an industry where “decentralization” is still held up as a beloved virtue is what allows the crypto industry to call out and question the centralization vectors that DAOs are still riddled with.

That informal institution has slowly been eroded and will only continue to do so as crypto continues to go “mainstream.” Cherish it while it still lasts.

@ Newshounds News™

Source:  Blockworks

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SINGAPORE ADVANCES ASSET TOKENIZATION WITH NEW MAS FRAMEWORKS

The Monetary Authority of Singapore is pulling together the projects and participants needed for the next step in its asset tokenization trials.

The Monetary Authority of Singapore (MAS) has announced a multipronged effort to advance the commercialization of asset tokenization. To achieve its goals, the MAS has drawn from various projects and produced new frameworks to provide guidance.

Scaling up successful tokenization tests
Speaking at the first MAS Layer One Summit, deputy managing director Leong Sing Chiong reviewed the successes of the large financial institutions participating in Project Guardian in demonstrating the potential for tokenization in foreign exchange and funds. More than 40 institutions have carried out more than 15 trials across seven jurisdictions using six currencies.

The central banker also identified the limitations of those trials:

“No one has really succeeded in achieving scale.  Many promising use cases have not yet gained industry wide traction.  Further, there is a need for supporting infrastructure to enable good use cases to scale beyond individual networks.”

To deploy tokenized assets at scale, liquidity, infrastructure, standardized frameworks and common settlement assets are needed, he said. The MAS is addressing each of those issues.

A masterplan for commercialization
Launched in 2022, Project Guardian already facilitates deepening liquidity through capital raising, secondary trading and asset servicing and settlement, the MAS said in a statement.

To address infrastructure needs, the MAS’s Global Layer One, launched in 2023 and developed by BNY, Citi, JPMorgan, MUFG and Societe Generale-FORGE, will expand its scope in the coming year. Euroclear and HSBC will join the initiative as it develops principles for use and its ecosystem.

The Project Guardian industry group created two frameworks for the implementation of tokenization that were also published on Nov. 4. The Guardian Fixed Income Framework integrates international organizations’ standards and principles into a guide to implementing tokenization in debt capital markets.

The Guardian Funds Framework recommends best practices for fund tokenization. This includes the Guardian Composable Token Taxonomy.

Finally, the SGD Testnet will be made available to facilitate access to mutually agreeable tokenized money for payments and securities settlements. Participants in Project Guardian and Project Orchid will participate using Singapore dollar wholesale central bank digital currency (CBDC).

Project Orchid developed use cases for retail CBDC and introduced the concept of purpose-bound money — a form of programmability — which will be implemented on the testnet.

Commercialization is the logical next step when a project achieves its goals. mBridge announced its launch as a minimum viable product in October 2023.

@ Newshounds News™

Source:  CoinTelegraph

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🌱 10 CRUCIAL QUESTIONS TO ASK WHEN VETTING A BANK FOR WEALTH MANAGEMENT  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Iraq Economic News and Points To Ponder Monday Afternoon 11-4-24

Imports And Dependence On Oil Are Two Obstacles To Iraq's Accession To The World Trade Organization
 
Economical 11/03/2024  Baghdad: the mainstay of the emirate   Membership in the World Trade Organization allows access to international trade policies, and despite the economic policies that Iraq has pursued during the last two decades in terms of international openness and the pursuit of establishing modern economic and legislative rules, attempts for the country to obtain a seat in the World Trade Organization have not succeeded so far, noting that Iraq became an observer member of the organization in 2004.

Financial Advisor to the Prime Minister, Dr. Mazhar Muhammad Salih, said:
 
The Iraqi economy lacks supervisory and regulatory regulations within the scope of trade relations and international requirements in accordance with internationally approved standards.
 
Supporters of joining the World Trade Organization believe that this path allows the organization’s member states to have wider access to global markets, while Membership in the World Trade Organization ensures access to international trade policies. Saleh stated that
 
there is a lack of some important economic legislation, especially related to the rights of workers in the private sector, and the field of social security and union organization. He touched on the presence of
 
two restrictions that weaken Iraq’s role in the international institution.

The  first is that Iraq is an importing country and does not have the competitive ability to export, and the
 
     second is semi-reliance. Total on oil.
 
For his part, academic Dr. Amr Hisham explained: 
Supporters of joining the World Trade Organization have a number of reasons that encourage joining, including that international trade agreements give broader vital access to global markets in the fields of goods and services, and the agreements and their rules create a trade climate that allows a reasonable amount of trade. Commercial forecasting, to achieve the goal of preparing marketing and export plans.

He explained that  trade agreements include obligations and rights, and the exercise of the rights contained in the agreements is limited to member states in the region alone, and resorting to the Trade Dispute Settlement Authority imposes seriousness in applying the rules to all parties, with the presence of a special mechanism to take punitive measures in the event of non-implementation.
 
Hisham cautioned that membership in the World Trade Organization guarantees access to other trade policies and the measures they contain that would affect access to markets, the extent of their consistency with international agreements, and participation in future negotiations to ensure the defense of commercial interests that concern those countries, and the formulation of agreements.

New measures approved by ministerial meetings.
 
The World Trade Organization (WTO): An intergovernmental organization that regulates and facilitates international trade between nations.
 
Governments use the organization to establish, review and implement the rules governing international trade.
 

The organization officially began its operations on January 1, 1995 in accordance with the Marrakesh Agreement, thus replacing the GATT Agreement concluded in 1948.
 
The World Trade Organization is the largest international economic organization in the world.
 
It has 164 member states that account for more than 98 percent of global trade and global commercial GDP.

https://alsabaah.iq/105164-.html   

How Did Reducing Inflation Help Stabilize Commodity Prices In Iraq?
 
November 2, 2024  Baghdad/Iraq Observer    The Association of Private Banks 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 Association of Private Banks, Ali Tariq, told the official agency, followed by “Iraq Observer,” that
 
“the Association of Private Banks and the Central Bank of Iraq held a symposium entitled
(The Statistics Cycle in Drawing up Monetary Policy),” indicating that
 
“the use of statistical data and information is a methodology adopted by the Bank.” 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,
 
 “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 Central Bank of Iraq website: To
     clarify progress and shortcomings regarding the financial sector or monetary policy.” Tariq 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 and on the gross domestic product,” explaining,

“On the other hand, as economic indicators, the most important of them was the inflation rates that It decreased significantly in the recent period to reach 3.8 percent,” noting,
 
“This is considered an excellent percentage that maintains the stability of commodity prices and
     thus the price increase is less for the citizen.”   https://observeriraq.net/كيف-ساعد-تخفيض-التضخم-باستقرار-أسعار-ا/   

Al-Sudani Directs Taking A Number Of Steps To Enhance And Develop Electronic Payment Systems And Services

Monday 04 , November 2024  | General Number of readings: 129  Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani directed to take a number of steps to enhance and develop electronic payment systems and services.

The Prime Minister's Media Office stated in a statement: "In implementation of the financial and economic reform approach, which represents one of the most important priorities of the government, the Prime Minister directed to take a number of steps to enhance and develop electronic payment systems and services:

First: Work to localize the salaries of private sector employees, similar to the government sector, and assign both the Ministry of Labor and Social Affairs and the Central Bank of Iraq, with the participation of a number of private sector institutions, to prepare an appropriate mechanism for this purpose.

Second: Ministries and all government institutions to leave cash payments and use electronic payments in collection and other related transactions, through an integrated plan submitted by each ministry or government institution before December 31, 2024, with actual implementation to begin no later than July 1, 2025." / End7  https://ninanews.com/Website/News/Details?Key=1166212

The Governor Of The Central Bank Of Iraq Meets With Employees Of The Erbil Branch
 
November 03, 2024   His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, visited the bank’s branch in Erbil.
 
    His Excellency the Governor inspected some departments in the branch building, where he was briefed on the progress of their work and the achievements achieved by the branch.
 
His Excellency the Governor directed to the necessity of  cooperation and work on stimulating financial policies, to    improve the banking sector and the services that banks provide to citizens, in addition to making observations about the need to  intensify efforts to enhance the capabilities of banking work.

His Excellency urged the branch’s employees to   provide the best banking services to the residents of the geographical area supervised by the branch, directing the need to    strengthen the Central Bank’s supervisory and supervisory position over banks operating in the Kurdistan region of Iraq.  Central Bank of Iraq    Media office   November 3, 2024     https://cbi.iq/news/view/2705  

The Central Bank Organizes A Symposium On The Role Of Statistics In Formulating Monetary Policy
 
November 03, 2024      The Central Bank of Iraq and the Iraqi Private Banks Association organized a symposium entitled “The Role of Statistics in Drawing Monetary Policy,”
 
in the presence of the Deputy Governor of the Central Bank of Iraq, Dr. Ammar Hamad Khalaf, and the President of the Iraqi Private Banks Association, Mr. Wadih Al-Handal, along with a number of bank representatives and professors. Universities and economists.
 
    The symposium witnessed Dr. Samir Fakhri, Director General of the Department of Statistics and Research at the Central Bank of Iraq, giving a detailed presentation that included a set of data related to monetary policy, indicating that
 
monetary and banking indicators are witnessing remarkable growth, thanks to the policies of the Central Bank.
 
    It is noteworthy that this symposium comes within the framework of the Central Bank of Iraq’s keenness to enhance awareness of the role of statistics and data in supporting monetary and economic policies, in a way that serves the sustainable economic development of Iraq.
      
    Central Bank of Iraq   Media office  November 3, 2024    https://cbi.iq/news/view/2704   

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

News, Rumors and Opinions Monday Afternoon 11-4-2024

KTFA:

Clare:  Extension of the legislative term of the Iraqi parliament for an additional month to pass laws

11/4/2024

Member of the Parliamentary Legal Committee, Mohammed Al-Khafaji, revealed on Monday that the current legislative session of the Council of Representatives ends on the 9th of this month, and that extending it for another month is subject to Article 58 of the Iraqi Constitution. 

He added in a statement to Shafaq News Agency that according to this article, the legislative term can be extended at the request of the President of the Republic, the Prime Minister, the Speaker of the House of Representatives, or 50 representatives, provided that the extension is approved by a vote of the majority of the members of the House.

Al-Khafaji explained that there is a trend to extend the legislative session from November 9 to December 9, in order to organize the work of Parliament and approve pending laws, as the past period witnessed repeated postponements in the Council’s sessions and the incomplete agenda.

Al-Khafaji pointed out that the extension will provide an additional opportunity for the government to submit the draft general budget law for 2025, which is supposed to be submitted before the end of this year. He stressed the importance of the government taking advantage of this time to avoid the delay that the budget witnessed this year.  LINK

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Clare:  Al-Sudani directs to establish the concept of (Made in Iraq)

10/3/2024  Baghdad

Prime Minister Mohammed Shia Al-Sudani directed to consolidate the concept of (Made in Iraq) in all industrial sectors.

Yesterday, Saturday, Al-Sudani inaugurated via video conference the Al-Mansour and Al-Mustaqbal factories, which specialize in pharmaceutical industries, as part of the government's program to support the localization of the pharmaceutical industry and raise self-sufficiency rates.

According to a statement received by "Al-Sabah", Al-Sudani announced "proceeding to develop and increase the production of local medicines to achieve drug security by working to localize the pharmaceutical industry and encourage the national product, and that contracts with local medicines have increased by three times, which represents a positive indicator."

He explained that "the increase in pharmaceutical production has made the government encourage, support and provide all the benefits required for the success of these projects, starting with the banking support and sovereign guarantees provided for these projects," stressing that "the registration of pharmaceutical companies is proceeding smoothly, and detailed and extensive instructions have been developed to facilitate the process of transferring technology to national factories and facilitating partnerships with specialized foreign companies and the private sector."

The Prime Minister pointed to "the importance of establishing the concept of (Made in Iraq) as it represents a national goal shared by all," indicating "the necessity of covering the needs of all chronic diseases before the middle of next year, in addition to cancer treatments, in cooperation with
the private sector."    LINK

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

Militia Man    They're not using the dinar today yet that we know of on the Forex.  But what they're saying is to my understanding is as of the 15th to 18th of October, they're getting ready to use domestic currency to support the exchange rate peg, domestic liquidity management.  I hope you guys understand that...because this is pretty powerful stuff coming from the CBI.

MarkZ   [via PDK]   From a source in the middle east:  Sudani has just stated that the “currency transition” should be completed by Victory Day. Victory day is December 10th. This means things will be going right away if it is to be “completed” by that time.

Credit Card Companies Drop BOMBSHELL On Interest Rates!

Atlantis Report: 

U.S. banks are taking defensive measures to secure their financial stability. The collapse of three regional banks and a series of rate hikes by the Federal Reserve have added to the uncertainty.

As a result, more lenders have tightened their lending standards, as revealed by the Federal Reserve's Senior Loan Officer Opinion Survey.

The tightening of lending standards, even before the full impact of the regional banking crisis, is likely to slow down the flow of credit to small businesses and households.

 Small businesses and marginal households, in particular, are sensitive to changes in the cost and availability of credit, given their limited financial resources and borrowing options.

https://www.youtube.com/watch?v=2sFPCzT3990

Gold Telegraph: Conversations with Judy Shelton, Part 1

Gold Telegraph: Conversations with Judy Shelton, Part 1

Nov. 3, 2024

 “I want the United States to be the leader if there’s any kind of gold backing to a currency.” – @judyshel

Economic advisor to former President Donald Trump, Judy Shelton, joins me for a captivating conversation spanning a wide range of subjects.

Judy Shelton is a Senior Fellow at the Independent Institute and author of the book Good as Gold: How to Unleash the Power of Sound Money.

She is the former Chairman of the National Endowment for Democracy and former U.S. Director of the European Bank for Reconstruction and Development. She has testified before the U.S. Senate Banking, Senate Foreign Relations, House Banking, House Foreign Affairs, and Joint Economic Committee.

In our conversation, we explore a series of compelling topics, highlighted by Judy’s riveting career stories, including her interactions with figures like Alan Greenspan, Paul Volcker, and other influential central bankers.

One of the most powerful revelations she shared was Paul Volcker’s frank admission: he had always believed the United States would eventually return to the Bretton Woods system.

For those unfamiliar, Volcker was referencing the pivotal moment known as the Nixon Shock in 1971, when President Nixon abruptly suspended the U.S. dollar’s convertibility into gold, shattering the foundation of the Bretton Woods system.

At that historic moment in history, Volcker served as the Under Secretary of the Treasury for International Monetary Affairs.

This marked the transition to a pure fiat monetary system.

We get into a wide-ranging conversation that covers many topics, which include:

• The US Dollar
• The U.S. National Debt as a Security Threat
• Federal Reserve’s Role in America’s debt and Financial Instability
• Historical Perspectives on Monetary Policy
• Potential Return to a Gold-Backed System
• Comparisons Between Soviet Central Planning and Current Economic Policies
• BRICS Countries and Global Financial Shifts
• Treasury Bond Backed by Gold and the Potential for Gold Backed Stablecoins
+ much more.

I hope you all enjoy this conversation, and a big thank you to @judyshel for joining me for our first Gold Telegraph conversation.

TIMESTAMPS:

0:49 – How much does the US dollar’s global dominance depend on the upcoming election?

2:08 – Is debt a threat to U.S. national security?

3:20 – How responsible is the Federal Reserve for America’s current debt level?

7:54 – How has the Federal Reserve contributed to the financial instability we face today?

13:22 – How do you see today’s shifting global landscape, given your deep background in historical analysis?

19:46 – Are we on the verge of another major global monetary shift, and what might it look like?

29:13 – Was there a specific moment or event early in your career that sparked your interest in the study of gold?

34:09 – Memorable stories from your conversations with Alan Greenspan, Paul Volcker and Robert Mandel

39:22 – How do you define sound money?

46:14 – How interconnected are sound money, economic opportunity, stability, and global peace, especially in today’s polarized world?

49:51 – Why do you think so many policymakers dismiss and mock gold, even as global demand is at records and central banks are stockpiling?

54:13 – How does the Fed’s dual mandate open it to political vulnerabilities, and could a rules-based system address these issues?

59:37 – How does the Fed’s centralized control over interest rates affect what is supposed to be a market-based economy?

1:02:48 – Are central banks aggressive policies eroding or undermining capitalism and the concept of free markets?

1:06:23 – Are BRICS nations positioning gold to become a unit of account and medium of exchange, potentially bypassing the traditional financial system?

1:09:38 – Could imposing tariffs on countries that move away from the dollar actually help America maintain its financial muscle?

1:14:47 – What gives you hope for potential reforms that could create a monetary system supporting economic freedom and stability for everyone?

1:16:58 – Could we potentially see you in the next administration advocating for these policies?

https://twitter.com/i/status/1853109702248280206

Source(s):   https://x.com/GoldTelegraph_/status/1853109702248280206

https://dinarchronicles.com/2024/11/03/gold-telegraph-conversations-with-judy-shelton-part-1/

**

Gold Telegraph: Judy Shelton Says Debt is a National Security Threat

In my conversation with Judy Shelton, I asked whether debt poses a national security threat to the United States.

She responded, “It is a national security threat, and this has been developing over a long time…”

Watch the entire conversation, here:

The United States Treasury is spending roughly 3% of GDP on interest payments for the national debt, marking the highest ratio since 1996.

The national debt is now nearly $36 trillion.

Do people actually think this can go on forever?

Source(s):
https://x.com/GoldTelegraph_/status/1853175191108477104
https://x.com/GoldTelegraph_/status/1853173647680114982

https://dinarchronicles.com/2024/11/03/gold-telegraph-judy-shelton-says-debt-is-a-national-security-threat/

“Coffee With MarkZ” Monday Morning Chat 11-4-2024

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

MarkZ  Update- Some highlights by PDK-Not verbatim

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

Member: Good Monday Morning. Fingers crossed this is our week.

MZ: This is going to be a big week with most eyes on the election …. I am still hearing that things may kick off late on Tuesday or early on Wednesday on the RV front.

Meber: I am worried that several states say they will not have mail in ballot counted for several weeks? I wonder if this delays the RV?

MZ: I do not have any bond facilitators receive their 1% over the weekend. Huge expectations for right after the elections.

MZ: There is a lot of news out of Iraq: “Warnings of higher gold and dollar prices in Iraq” then another article saying the opposite. This is the same ping pong of articles that we saw in Kuwait before their revaluation. In the same day you will see many competing articles and Iraq is playing the game like they did in Kuwait…and what they did in China before their revaluation.

MZ: “The governor of the Central Bank of Iraq meets the employees of the Erbil branch”  This is like all the Fed. Reserve offices in the US meeting. This is a meeting between the Kurdish region and Baghdad region. This is part of HCL. I am very encouraged by the progress on that front. They will be on the same page for exchanges and digital banking.

MZ: “Deputy: Smuggling of oil derivatives has shrunk by 80% in Iraq”  This is also about the pending approval of the HCL.  It is also about securing the borders. I think it is huge. They are securing the financial borders in Iraq. I was always told this would occur right before the revaluation.

MZ: “Extension of the legislative term of the Iraqi Parliament for an additional month to approve laws” I think this is a big one. I very much believe they have extended Parliament for two reasons. The full adoption of the HCL and a revaluation of the dinar. That is what I believe.

MZ: So parliament extends its session for a month……This along with the comment from Sudani in Iraq that they would be done with the financial reforms by Victory day –which is December 10th. I am very excited about timing and seeing this article.

Member: Iraq's progress is as impressive as America's Founding in 1770s ...

MZ: “Iraq will not allow Iran to use its territories in targeting Israel” This may be important for the coming hours.

Member: Mark, could the dinar go first than a couple of hours later the dong and so on? That way the dinar went by itself.

Member: At this point anything could happen…..prepare for the worst and hope for the best.

Member: BANK STORY –I went to my bank …..not branch I usually go to and I said to teller the new notes look cool don’t they he said yes they do …I said they are supposed to come out in NOV ….yes he said…..we talked about the notes for a min and I asked him if he has seen them physically he said no….. I asked if he knew when in Nov they come ….he started to act uncomfortable and said no

Member:  last night on fearless Floyd I found out that they are going to take 80% of all foreign currency leaving you with only 20%. has anyone heard this yet?

MZ: I have not heard that from a single one of my sources. Zero, Zilch None. It makes no sense And ZERO of my sources believe you will get a 1 to 1 rate on the zim….not a one. But best to be prepared wither way.

Member: Fearless Floyd was also saying he's 90% sure it will go today.

Member: Jeff Ram came on Floyd last night he has a whale that HAS LIQUID money in his account and accessible.

Member: we all need to remember there are so many sources of funds to be distributed and some many different sources of information feeding info out the info there should be some conflicting reports.

Member: is there a up to date on what currencies are in which basket or at least what is first basket?

Member: Old list:  1. US 2. UK 3. Kuwait 4. Canada 5. Mexico 6. Russia 7. China 8. Venezuela 9. Iranian Rial 10. IRAQ 11. Indonesia Rupiah 12. Malaysia 13. Vietnamese 14. Brazil 15. Saudi Arabia 16. Qatar 17. United Arab Emirates 18. Turkey 19. Afghanistan possibly20. India 21. Libya 22. Japan23. Zimbabwe

MZ: The ones I feel absolutely concrete certain on are the dinar, dong, Indonesian rupiah going in the first basket…I feel confident the Zim will go because of humanitarian dollars…...the rest are a crap shoot. We will see.

Member: Praying the Bolivar end up being one of the ones to go for sure.

Member: Does the dinar still have a contract rate if we exchange at redemption centers?

MZ: Half my sources say yes….half my sources say no.   But most think it will still be a preferential rate at Redeeming banks. 

Member: plus other important things such as the redemption centers have trained people for this RV…plus delarue machines, security ect…..I would never walk into a teller at a bank for the street rate…

Member: If currencies go in baskets…how long will it take the other baskets to go.

MZ: I am told after the first basket…there will not be another and all the rest of the currencies will go individually as each one of the countries or nations  is prepared and ready.

Member: Just be prepared for civil unrest and maybe the power and water going out…fill your bathtubs

Member: water in bathtubs? some one help me understand this? bottled water isn't enough?!

​​Member: A bathtub full of clean water can be used for many things. A bucket full to flush the toilet, water for pets & cleaning, extra to boil for cooking etc.

Member: Would rather be prepared and not need it….then something bad happens and need it but don’t have it.

Member: Would be great month for RV with Thanksgiving coming up.

Member: I have a high expectations for good things to happen this week

Member: Prayers tonight at 6PM for our nation and God's will be done!!!!!

Member: I just want to say thank you Mods, Mark, and Friends here...big gratitude.

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

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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.

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

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Seeds of Wisdom RV and Economic Updates Monday Morning 11-4-24

Good  Morning  Dinar Recaps,

PAKISTAN MOVES TO LEGALIZE CRYPTO AS GOVERNMENT SIGNALS SHIFT IN FINANCIAL POLICY

Pakistan moves to legalize crypto as the government proposes amendments to the SBP Act, signaling a shift in its financial policy.

According to a report by The Express Tribune, the amendments would allow the SBP to issue digital currency and manage the country’s money in both physical and digital forms.

The amendments also include the proposal to grant the SBP power to conduct “central bank digital currency” business, adding that CBDCs could operate as a legal tender. Moreover, the SBP plans to establish a subsidiary to develop and operate digital payment systems, the report reads.

Historically, Pakistan’s central bank has categorized cryptocurrencies like Bitcoin (BTC) as illegal tender, issuing warnings about the associated risks. The central bank specifically highlighted the lack of legal protections for financial losses resulting from the high volatility of cryptocurrencies.

The proposed amendments introduce penalties for the unauthorized issuance of digital currencies, imposing fines equal to twice the value of any illegal currency created, per the report.

While no specific timeline has been announced for federal cabinet approval of the amendments, these changes could shift the narrative toward regulatory oversight and the integration of digital currencies into Pakistan’s financial framework. The amendments would also expand the SBP board’s authority, enabling it to approve a wider range of financial reports and enhance governance processes.

@ Newshounds News™

Source:  Crypto News

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KRAKEN LAUNCHES LICENSED CRYPTO DERIVATIVES IN AUSTRALIA

Kraken expands into Australia’s crypto derivatives market with a regulated broker service for wholesale investors.

Kraken, a centralized cryptocurrency exchange, introduced a licensed brokerage service in Australia targeting wholesale clients and designed to meet the needs of institutional and large-scale investors.

The new service offers Australian clients crypto-based derivatives trading, a financial product tied to cryptocurrency prices without requiring direct ownership of digital assets.

Eligible clients have been able to trade crypto-based derivatives via Kraken’s platform since Nov. 3. Interested clients can apply or check their eligibility for the service through the Kraken Pro app.

The launch of Kraken’s new Australian-targeted broker service demonstrates the exchange’s move toward regulatory compliance, preparing it to handle potential institutional liquidity inflows.

New service offering details
Kraken’s new product, available through its Australian financial services-licensed broker, allows clients to access multiple crypto options with multi-collateral support.

The suite of derivatives includes features like collateral flexibility, supporting fiat, stablecoins and other cryptocurrencies, while offering risk management tools and trading strategies designed to enhance asset security.

Despite the new service’s potential advantages, Kraken warned investors of the high risks associated with some crypto derivatives in which losses can “substantially” exceed initial investments.

Kraken commitment to compliance
The exchange’s expansion into the Australian wholesale derivatives market is the latest step in aligning with local regulatory requirements.

In the launch announcement, Jonathan Miller, Kraken’s general manager for Australia, said that Australian wholesale clients are seeking an option “to execute advanced trading strategies using a licensed broker.”

Miller added that the country has been a “cornerstone” of the exchange’s global operation and expressed Kraken’s commitment to regulatory compliance while unlocking “institutional demand for crypto assets.”

Kraken to launch Ink blockchain in 2025
Kraken’s plans to launch its own blockchain in early 2025, dubbed “Ink,” were revealed in a Bloomberg report in Oct 24..
The report said that the new blockchain aims to allow users to trade, borrow and lend tokens without intermediaries while simplifying the decentralized finance (DeFi) process.

Ink signals Kraken’s step away from its current position in crypto and toward Web3 and decentralization principles as it bids to make DeFi more accessible and cost-effective for users.

@ Newshounds News™

Source:  CoinTelegraph

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🌱 WARREN BUFFETT PREFERS CASH AND WHY  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Americans Lose Billions To Online Scams

Americans Lose Billions To Online Scams

Kenneth Niemeyer  Mon, November 4, 2024  Business Insider

Banks and the federal government point fingers as Americans lose billions to online scams.  The American Bankers Association is urging federal action on online financial fraud.  Banks are facing increased liability for scams, with $10 billion in losses reported last year.

ABA's proposed measures include a national strategy, new federal offices, and updated fraud laws.

Remember the Spider-Man meme where he points at himself? Banks and the federal government are in a similar situation, pointing to each other to solve the problem of online financial scams.

For its part, the government wants banks to take on more responsibility, and more consistently refund their customers who fall victim to online scams. Banks, on the other hand, want the government to do more to prevent those scams in the first place.

The problem is real. Almost 1 in 3 Americans have been the victim of a scam in the past year, with an average loss of $1,600 a person, according to a study from IPX, a financial analysis firm.

According to the Federal Trade Commission, consumers reported more than $10 billion in losses last year from online scams. The agency's data also showed that consumers using payment apps reported losing $210 million.

It's also a major headache for the banks.

American Bankers Association CEO Rob Nichols called for the federal government to create a national scam prevention strategy last week. Nichols also said that Congress should "create and fund" an Office of Scam and Fraud Prevention while speaking to bankers at the association's annual convention in October.

"The scale of fraud taking place every day is a massive burden for our country and for the millions of hardworking women and men whose lives are affected by it," Nichols said at the convention, according to Forbes. "It will take a united effort — with support from both inside and outside the banking industry — to win this fight."

The government, meanwhile, has repeatedly called on financial institutions to improve compensation for victims who lose money to scams.

In August, the Consumer Financial Protection Bureau launched an investigation into JP Morgan, Bank of America, and Wells Fargo, all part owners of Zelle.

TO READ MORE:  https://www.yahoo.com/finance/news/banks-federal-government-point-fingers-061424300.html

“Bits and Pieces” in Dinarland Monday AM 11-4-2024

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 Mon. 4 Nov. 2024

Compiled Mon. 4 Nov. 2024 12:01 am EST by Judy Byington

Be Ready, Prepared, Expectant
Expect Chaos on Election Day Tues. 5 Nov. 2024:
National Guard Deployed To Major Cities, Fencing Surrounds US Capitol, White House
Meanwhile, Global Currency Reset Tier4b Has Been Activated in a new Gold/asset-backed Global Financial System Designed To Defund The Bad Guys

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.

Possible Timing:

Wed. 30 Oct. 2024: Tier4b funds (allegedly)  released in Brazil.

Also on Fri. 1 Nov. 2024 Texas, the possible site of the new US Republic Capitol, transferred it’s money into gold-backed currency.

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The below were rumored dates which were subject to change (anything could happen):

Tues. 5 Nov. 2024 Cyber Attack, election results, change of President, get 800s

Thurs. 7 Nov. 2024 begin scheduling Tier4b (us, the Internet Group) appointments

Tues. 12 Nov. 2024 begin Tier4b appointments

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Global Currency Reset:

Sun. 3 Nov. 2024 Wolverine: “I can tell you with 100% assurance that things are moving. This is our week. One of the seven big leaders of this movement told me this morning that it was happening this week, probably at least by Friday 8 Nov. 2024.”

Sun. 3 Nov. 2024 MarkZ: “A source in the Middle East says that Sudani just said that the currency transition should be completed by Victory Day Tues. 10 Dec. 2024. This means that things will be going very soon if it is to be completed by then.” … “A bank employee said that they had been signing a lot of NDAs, all of the employees were under a gag order and couldn’t talk about (Nesara) and would be transitioning to a wealth management location. They also said they have completed their training, have a new Delarue Machine and the money comes out in November.”

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Global Financial Crisis:

Sun. 3 Nov. 2024: The United States Treasury is spending roughly 3% of GDP on interest payments for the national debt, marking the highest ratio since 1996. The national debt is now nearly $36 trillion.

Read full post here:  https://dinarchronicles.com/2024/11/04/restored-republic-via-a-gcr-update-as-of-november-4-2024/

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

Frank26  [Iraq boots-on-the-ground report]  FIREFLY:
CBI governor Alaq on television saying our foreign reserves at 140% above our current issued currency.   FRANK:  Based on those words, can you just imagine the potential of your next exchange rate?!

Militia Man  They're maintaining control of the general level of pricing, they're controlling inflation, reducing both in the management of monetary mass.  Reducing the monetary mass, what does that do?  If you take money out of the system, there's less of it...You have more value.  They're reducing the money supply.  Inflation rate was at 7.5% now it's down about half of that 3.8%.  If they reduced inflation by almost 50%, then wouldn't that likely be reasonable to presume that they reduce the monetary mass about the same amount?  It sure seems like it.

Inflation down to 3% cool

Nader:  11-4-2024

https://www.youtube.com/watch?v=cCFjAFX7Qp0

Vince Lanci:Gold, Silver, and Tier 1 Assets Explained - Part 1

Arcadia Economics:  11-3-2024

If it's been a while since you've heard an update about how the Basel banking framework applies to the gold & silver markets, and especially if the whole concept was a little confusing the first time around, then today's show with Vince Lanci is for you!

 To find out more, click to watch this great overview of gold, silver, and tier 1 assets now!

https://www.youtube.com/watch?v=dQdBBqe0Vbc

“Tidbits From TNT” Monday Morning 11-4-2024

TNT:

Tishwash:   The Special Representative of the Secretary-General of the United Nations arrives in Najaf to meet with Mr. Sistani

 The Special Representative of the Secretary-General of the United Nations, Mohammed Al-Hassan, arrived in Najaf today, Monday, to meet with the Grand Ayatollah, Sayyid Al-Sistani.

The UN Secretary-General had earlier announced the appointment of Mohammed Al-Hassan as his new Special Representative in Iraq and Head of the United Nations Assistance Mission in Iraq (UNAMI), succeeding his former Special Representative, Jeanine Hennis-Plasschaert.  link

Tishwash:  Extension of the legislative term of the Iraqi parliament for an additional month to pass laws

 Member of the Parliamentary Legal Committee, Mohammed Al-Khafaji, revealed on Monday that the current legislative session of the Council of Representatives ends on the 9th of this month, and that extending it for another month is subject to Article 58 of the Iraqi Constitution. 

He added in a statement to Shafaq News Agency that according to this article, the legislative term can be extended at the request of the President of the Republic, the Prime Minister, the Speaker of the House of Representatives, or 50 representatives, provided that the extension is approved by a vote of the majority of the members of the House.

Al-Khafaji explained that there is a trend to extend the legislative session from November 9 to December 9, in order to organize the work of Parliament and approve pending laws, as the past period witnessed repeated postponements in the Council’s sessions and the incomplete agenda.

Al-Khafaji pointed out that the extension will provide an additional opportunity for the government to submit the draft general budget law for 2025, which is supposed to be submitted before the end of this year. He stressed the importance of the government taking advantage of this time to avoid the delay that the budget witnessed this year. link

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Tishwash:  Al-Sudani receives a memorandum of understanding to establish a higher ministerial council between Iraq and the Netherlands

Prime Minister Mohammed Shia al-Sudani received, on Monday, a memorandum of understanding to establish a higher ministerial council between Iraq and the Netherlands for governmental cooperation in all fields.

Al-Sudani's office stated in a statement received by Shafaq News Agency that the latter received the new Dutch Ambassador to Iraq, Janet Alberda, and congratulated her on assuming her duties in Iraq, stressing the importance of strengthening bilateral relations in various fields, and working to develop them, in a way that achieves mutual benefit and common interests.

Al-Sudani received a draft memorandum of understanding to establish the Supreme Ministerial Council between the governments of Iraq and the Netherlands, for the purpose of working on ministerial cooperation in all fields, in addition to discussing the issue of the withdrawal of the coalition and entering into bilateral relations between the two countries.

During the meeting, the situation and developments in Lebanon and Gaza were discussed, and the importance of seeking to stop the war and deliver relief supplies to the affected areas and those afflicted by the aggression was emphasized  link

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Tishwash:  Prime Minister: The necessity of strengthening Iraq's position to be at the forefront of the region's countries in the technological aspect

Prime Minister Mohammed Shia al-Sudani stressed, on Sunday, the necessity of strengthening Iraq's position to be at the forefront of the countries of the region in the technological aspect.

The Prime Minister's Media Office said in a statement, seen by "Al-Eqtisad News", that "Prime Minister Mohammed Shia Al-Sudani chaired the second meeting of the Supreme Committee for Artificial Intelligence."

He added that "Al-Sudani listened, at the beginning of the meeting, to the government plans related to developing aspects related to artificial intelligence for employees, educational and educational sectors, and the agriculture and water resources sector, in addition to reviewing the legislative policy; in order to prepare a draft law regulating the work of artificial intelligence applications."

He continued that "Al-Sudani reviewed the details and proposals related to introducing the subject of computers and artificial intelligence into the curricula of the Ministry of Education in the next academic year, stressing the need for every school to have a smart screen and an internet connection to establish a special laboratory for artificial intelligence, stressing the need to strengthen Iraq's position to be at the forefront of the countries of the region in the technological aspect, with its various capabilities and potentials in this field."

He explained that "Al-Sudani agreed to launch an initiative aimed at attracting competencies from abroad in the public and private sectors, including leaders and employees, by training 100 digital leaders as a first stage, and informing them of the latest experiences in this field, under the supervision of international experts, in order to create and implement policies in order to raise the quality of services provided to citizens." link

Mot: Remember when no one ever said… “Where’s my phone”!   

Mot: . Every Year bout This Time! - Where is My Catalog   

More News, Rumors and Opinions Sunday PM 11-3-2024

KTFA:

Clare:  Governor of the Central Bank of Iraq meets with employees of the Erbil branch

November 03, 2024

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, visited the bank's branch in Erbil.

His Excellency the Governor inspected some departments in the branch building, where he was briefed on the progress of their work and the achievements of the branch.

His Excellency the Governor directed the need for cooperation and work on stimulating financial policies to advance the banking sector and the services provided by banks to citizens, in addition to making observations on the need to intensify efforts to enhance the capabilities of banking work.

His Excellency urged the branch employees to provide the best banking services to the residents of the geographical area supervised by the branch, directing the need to strengthen the supervisory and regulatory position of the Central Bank over banks operating in the Kurdistan Region of Iraq.

Central Bank of Iraq
Media Office
November 3, 2024  LINK

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Henig:  Sudani and Mashhadani stress the importance of cooperation between the legislative and executive authorities

Political |   06:12 - 03/11/2024 Mawazine News - Baghdad Prime Minister Mohammed Shia al-Sudani and Parliament Speaker Mahmoud al-Mashhadani stressed on Sunday the importance of cooperation between the legislative and executive authorities.

According to a statement by his office received by "Mawazine News", that "Prime Minister Mohamed Shia Sudani, met on Sunday, Speaker of the House of Representatives Mahmoud Al-Mashhadani." Al-Sudani extended his congratulations to Al-Mashhadani on the occasion of his election as Speaker of the House of Representatives, stressing that "the achievement of this important constitutional entitlement enhances political and social stability, and consolidates the democratic choice of all political forces."

The Prime Minister stressed "the importance of cooperation between the executive and legislative authorities, and integration in their work in order to complete the requirements of the government program, in a way that contributes to meeting the aspirations of our people in various fields."

https://www.mawazin.net/Details.aspx?jimare=256340

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

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:
Television is saying now the currency auctions were a mistake and the dinar should be link to a basket of currencies.  They say it's the best thing for our economy.  FRANK:  This monetary reform education is off the hook isn't it?!  They're telling them constantly.  It won't stop!

Nader From The Mid East  I read an article about the oil price ...Remember I told you the oil price is $70.  It's really wrong...The Chairman of the CBI comes out and says, hey, we need to change the price of oil from $70 to $40 because they know the oil can reach $50 or $60 on the prices.  In the budget if you put oil at $70, couple months from now you're losing especially when the war ends...Oil for sure going to go down.  The next step on the oil prices will be $40 in the budget.  That's very good because they know they're going to change the rate and they want oil price in the budget works with the rate.

 Wow this number are crazy looking money IQD Iraq

Nader:  11-3-2024

https://www.youtube.com/watch?v=r0Gwd_QUPLI

MARKETS A LOOK AHEAD: SOMETHING IS GOING TO BREAK...

Greg Mannarino  :  11-3-2024

https://www.youtube.com/watch?v=gafq39AdDmk

Panic Of 1907: The Stock Market Crash That Brought Us The Fed

Panic Of 1907: The Stock Market Crash That Brought Us The Fed

Catherine Brock  October 23, 2024   Yahoo Personal Finance

Crises have a way of ushering in change, especially in the realm of personal finance. Some of the worst stock market crashes in U.S. history have been followed by regulatory reform efforts to protect investors.

For example, legislators established the Securities and Exchange Commission after the crash of 1929 and passed the Dodd-Frank Act after the 2008 financial crisis.

The banking and stock market breakdown that preceded the creation of the Federal Reserve System is less well known. Called the “Panic of 1907” or the “Bankers Panic of 1907,” the crash had far-reaching consequences that influence how banks operate today. The details of the story also highlight key takeaways that can help investors manage risk.

Bankers Panic of 1907

Greed underpins many stock market scandals, and the Bankers Panic of 1907 was no exception. Under the pressures of the 1907 recession, a group of businessmen attempted to manipulate the stock price of mining company United Copper. The group consisted of three brothers — Augustus Heinze, Arthur Heinze, Otto Heinze — and an associate named Charles Morse. The four of them were majority shareholders in the copper company prior to their price manipulation scheme.

Margin Buying Gone Wrong

The Heinze brothers and Morse had financed many of their United Copper shares in a practice called buying on margin.

Buying on margin is still common today. Brokers loan money for the stock buy and then hold shares as collateral. If the shares' collective value dips too low, the broker can ask the investor to provide more funding. If the investor does not, the broker can sell the shares to pay down the loan balance. The sale creates a loss for the investor.

The Heinze brothers and Morse were facing this scenario. United Copper's share price had fallen, and they were under pressure to provide more collateral.

Failed Short Squeeze

While reviewing the United Copper holdings, Arthur Heinze determined that investors were shorting the company's stock. A short position is a bet the stock price will decline. It involves borrowing shares and selling them to someone else. The Heinze brothers believed their United Copper shares were being lent without their knowledge.

Otto Heinze formulated a plan. He would buy up available shares of United Copper to drive the price higher. The higher price would force short sellers to close their positions — which they could only do by purchasing shares on the open market. Heinze would sell them the shares and use the proceeds to repay the margin loans.

Unfortunately for the U.S. economy, Heinze was wrong. He drove up the price of United Copper with excessive purchases, but the expected demand from short sellers did not materialize. With no buyers for his shares, Otto refused to pay his broker for the trades.

The broker, Gross & Kleeberg, sold the shares at a loss, and the price of United Copper crashed. Gross & Kleeberg subsequently shut down and Otto Heinze was banned from trading.

A Complex Web Of Influence And The Financial Aftermath

TO READ MORE: https://finance.yahoo.com/personal-finance/panic-of-1907-stock-market-crash-that-brought-us-the-fed-213058656.html