Seeds of Wisdom RV and Economic Updates Tuesday Morning 11-5-24
Good Morning Dinar Recaps,
COINBASE’S L2 BASE WELCOMES FRANKLIN TEMPLETON’S TOKENIZED FUND
Coinbase’s Ethereum scaling solution has onboarded its first large wealth manager, Franklin Templeton, the $1.5 trillion Wall Street firm.
Franklin Templeton announced that users can trade shares of its OnChain U.S. Government Money Market Fund, FOBXX, on the layer-2 network Base.
Good Morning Dinar Recaps,
COINBASE’S L2 BASE WELCOMES FRANKLIN TEMPLETON’S TOKENIZED FUND
Coinbase’s Ethereum scaling solution has onboarded its first large wealth manager, Franklin Templeton, the $1.5 trillion Wall Street firm.
Franklin Templeton announced that users can trade shares of its OnChain U.S. Government Money Market Fund, FOBXX, on the layer-2 network Base.
FOBXX, with $410 million in assets, has already launched on five other blockchains, including Arbitrum, Polygon, Avalanche, Aptos, and Stellar, making Base the sixth blockchain to support Franklin Templeton’s tokenized Treasury fund.
The announcement represents another crossover between traditional and decentralized finance markets. Fellow asset manager BlackRock recently launched its USD Institutional Digital Liquidity Fund, also known as BUIDL, on Ethereum’s mainnet partnered with ETH-native protocols like Ethena Labs.
While BlackRock launched on a layer-1 network and maintains the largest on-chain money market, Franklin Templeton has focused on layer-2 networks for its FOBXX fund.
L2’s run off layer-1 blockchains but provide cheaper and quicker transactions. As such, they offer optimized environments for on-chain money markets and tokenized treasuries.
Franklin Templeton’s FOBXX was the first money market fund to employ decentralized technology for trading, and the firm picked L2 Arbitrum as its first home.
Launching on Coinbase’s layer-2 may further boost Base’s growth. Since going live in 2022, the network has attracted over $2.6 billion in user deposits and was the fifth-largest decentralized finance blockchain at the time of writing, according to DeFiLlama.
Base, launched by the largest U.S.-based crypto exchange, also ranks as Ethereum’s top scaling solution based on active addresses, total value locked, and 24-hour volume.
@ Newshounds News™
Source: Crypto News
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HKEX TO USE SMART CONTRACTS, DLT TO AUTOMATE ETP ISSUANCE, REDEMPTION
Today the Hong Kong Exchanges and Clearing (HKEX) announced plans to automate the creation and redemption of some exchange traded products (ETPs) in 2025. The new web based platform will use distributed ledger technology and smart contracts and is subject to regulatory approval.
The aim is to boost efficiency and encourage more secondary market activity.
“Speed and efficiency are critical in an increasingly dynamic market environment,” said Jean-Francois Mesnard-Sense. “HKEX is pleased to introduce this new digital enhancement.
It will not only streamline operations for our market participants, but also drive more liquidity in the product ecosystem, supporting the vibrancy of our ETP marketplace and strengthening Hong Kong’s role as an international financial centre.”
While HKEX did not use the term real time, in theory an automated platform could support this. Given stock exchanges are not retail facing, it’s usually market makers that would trigger the creation and redemption process.
HKEX didn’t disclose the technology used, and hasn’t responded to our query by publication time. However, HKEX’s previous DLT activity for its HKEX Synapse settlement platform launched in 2023 uses Digital Asset’s DAML and Canton.
ETPs in Hong Kong are growing at a rate of 29 percent a year since 2020. Average daily turnover this year has been HK$17.9 billion (US$2.3 billion).
In Europe Deutsche Börse, which also uses DAML technology, developed its D7 issuance platform. It also automates workflow and has proven popular for structured products with tens of thousands of issuances per month.
@ Newshounds News™
Source: Ledger Insights
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THE DAO DILEMMA: STRIVING FOR DECENTRALIZATION | Youtube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
~~~~~~~~~
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Iraq News Highlights and Points To Ponder Tuesday AM 11-5-24
Foreign Minister Warns Of Major And Dangerous Economic Repercussions
November 4, 2024 Baghdad/Al-Masala: Deputy Prime Minister, Minister of Foreign Affairs, and Chairman of the Ministerial Council for the Economy, Fuad Hussein, confirmed that the political and security situations facing the region directly affect the Iraqi economy, while he pointed out that any security tension will have major repercussions in the fluctuation of oil prices and the instability of local and global markets.
Foreign Minister Warns Of Major And Dangerous Economic Repercussions
November 4, 2024 Baghdad/Al-Masala: Deputy Prime Minister, Minister of Foreign Affairs, and Chairman of the Ministerial Council for the Economy, Fuad Hussein, confirmed that the political and security situations facing the region directly affect the Iraqi economy, while he pointed out that any security tension will have major repercussions in the fluctuation of oil prices and the instability of local and global markets.
A statement by the Foreign Ministry stated that Hussein, “on Monday, November 4, 2024, chaired the thirty-third session of the Ministerial Council for the Economy, which was held in the Council building in the presence of the Deputy Prime Minister and Minister of Planning, the Ministers of Finance, Agriculture and Industry, the Secretary-General of the Council of Ministers, the Governor of the Central Bank of Iraq, the Chairman of the Securities Commission, and the Prime Minister’s advisors for economic and legal affairs. The Council also hosted the Undersecretary of the Ministry of Planning for Technical Affairs.”
The session was devoted, according to the statement, to “discussing the financial and economic reality in Iraq in light of internal and external challenges, especially regional conflicts and their impact on the Iraqi economy. The Council reviewed a presentation by the Undersecretary of the Ministry of Planning on the reality of investment projects in Iraq, whether completed or under construction, and the financial obligations associated with them.”
The Council also listened to “working papers presented by the ministers that included the main challenges facing the Iraqi economy in its financial and economic aspects. The Council discussed the rates of the state’s general revenues from oil and non-oil sources, and the rates of spending and financial obligations incurred by the government.”
The Council members presented “a presentation on the reality of the work of their ministries and agencies, and put forward proposals to maximize revenues to support the general budget, which would contribute significantly to driving the economy and development towards growth.”
The Council Chairman pointed out that “the political and security situations facing the region directly affect the Iraqi economy, and that any security tension will have major repercussions in the fluctuation of oil prices and the instability of local and global markets.”
The Council agreed to “take the necessary measures and important economic decisions that contribute to the stability of the Iraqi market after completing the discussions and exchanging opinions and working papers submitted by the Council members.” https://almasalah.com/archives/105068
IMF: Foreign Investment Outperforms Sovereign Funds In Generating Growth In Gulf
Money and business Economy News - Follow-up A study under preparation by the International Monetary Fund has found that foreign direct investment in Gulf countries has a greater impact on non-oil GDP growth than domestic investments by their sovereign wealth funds.
The study, which has not yet been published, examined private equity investments and mergers and acquisitions linked to sovereign funds in the Gulf countries, excluding the financial sector from the analysis.
The study aims to provide a model through which the amount of capital required to achieve a certain level of growth in the non-oil sectors and GDP can be estimated. According to statements made to Asharq by researchers Wenning Chen and Evgenia Koronaka, increasing foreign investment by 1% of GDP leads to an increase of more than 1% in non-hydrocarbon GDP growth over a five-year period. https://economy-news.net/content.php?id=49479
Iraq Exports More Than 6 Million Barrels Of Oil To America In A Month
Energy Economy News – Baghdad The US Energy Information Administration announced today, Tuesday, that Iraq's oil exports to America amounted to more than 6 million barrels during last October.
The administration said in a table seen by "Al-Eqtisad News" that "Iraq exported 6 million and 161 thousand barrels of crude oil to America during the month of October, up from 5 million and 970 thousand barrels in September."
She added that "the average exported by Iraq amounted to 241 thousand barrels per day of crude oil to America during the first week of October, while an average of 70 thousand barrels per day was exported in the second week, and an average of 237 thousand barrels per day was exported in the third week," noting that "the exports of the fourth week amounted to an average of 216 thousand barrels per day."
The US Energy Information Administration stated that "Iraq came in fifth place in its exports to America during the past month, after Canada, which came in first place as the largest oil exporter to America, followed by Mexico, Colombia, and Venezuela." https://economy-news.net/content.php?id=49493
MP: Oil Derivatives Smuggling Has Decreased By 80% In Iraq
Information/Baghdad… Member of the Parliamentary Security Committee, MP Yasser Iskandar, acknowledged on Monday that the smuggling of oil derivatives has decreased by 80% in Iraq.
Iskandar said in an interview with Al-Maalouma, "The security services are adopting a comprehensive strategy in the file of ending the smuggling of oil derivatives in the country through 3 main axes, the most prominent of which is controlling the movements of tankers on the land roads between the governorates, ending the file of the breeze roads, and tightening procedures at the checkpoints."
He added, "The smuggling of oil derivatives in Iraq has decreased by 80%, which is an important positive indicator, especially with the dismantling of a series of networks and the arrest of dozens with the tankers used in smuggling between the provinces."
He pointed out that "the smuggling process has become more difficult in light of the ongoing security pressure and coordination between the governorates, which has yielded positive results in the past months."
It is noteworthy that the smuggling of oil reservoirs is one of the phenomena that emerged in recent years and caused crises in several governorates. LINK
l-Sistani’s “Seven Commandments” Occupy Iraqi Politics.. A Reading Of The Position Of The Authority
Posted on 2024-11-04 by sotaliraq The statement of the highest Shiite authority in Iraq, Sayyid Ali al-Sistani, which was issued today after his meeting with Mohammed al-Hassan, the representative of the Secretary-General of the United Nations and head of its mission in Iraq (UNAMI) and the accompanying delegation, sparked various political analyses, including “returning Iraq to the square of 2004 and the constitutional revolution that he supported,” “the failure of the political experiment in Iraq,” and his warning to the government of Mohammed Shia al-Sudani, and “its inability to manage the country and the spread of weapons and chaos in the administration of the state,” in addition to warning of the possibility of the region heading towards a “major crisis.”
The head of the Center for Political Thought, Dr. Ihsan Al-Shammari, says, “Al-Sistani’s meeting with the representative of the Secretary-General of the United Nations and his talk about the humanitarian conditions in Gaza and Lebanon, as well as his warning to the Sudanese government and its inability to manage the country, the spread of weapons and the chaos of state administration, this shows that there is deep concern that will affect the region, so he is sending messages in several directions.”
Al-Shammari explained during his speech, “Among those messages are to the international community on the necessity of maintaining stability and taking into account the humanitarian aspect, and a message to the national elites who were excluded by the Coordination Framework and the Sudanese that what will happen should be taken into account, and then the national forces must work to address the upcoming crisis in the region in a way that spares Iraq its repercussions.”
For his part, political analyst Abbas Ghadir says, “It is well known that His Eminence Sayyid al-Sistani has an influence on the Iraqi and regional situation in general, and all the meetings that everyone has with al-Sistani have an impact on the Iraqi political and social situation, and al-Sistani’s meeting today with the representative of the Secretary-General of the United Nations launched a set of messages and recommendations to the Iraqi interior and exterior.”
Ghadir explains, “Al-Sistani asked the elites to benefit from past experiences and invest in them and find solutions in building the state and confining weapons. He also spoke about what is happening in the region and the Zionist aggression against the Palestinian and Lebanese peoples.”
He points out that “what was issued in this statement affected the political situation, and therefore the Coordination Framework expressed in its statement its commitment to Sistani’s directives and everything he issued, and they will be taken seriously for implementation.”
In turn, political analyst Ahmed Al-Yasiri believes that “the statement of the authority related to the new arrival of the United Nations after Plasschaert is the confirmation of the UN mission of Al-Sistani’s role that there is an important spiritual centrality that affects the joints of life in Iraq, whether on the political or social level, which is the leadership of Mr. Al-Sistani.”
Al-Yasiri added during his speech, “Also, Mr. Sistani’s statement reinforces the idea of spiritual centrality, because the events in the Middle East and the humanitarian stances launched by the authority based on its spiritual centrality have been attempted to be exploited, especially by the factions, to link them to the authority’s fatwa in 2014, i.e. militarizing the spiritual path of the authority.”
He explains that “the Iraqi factions exploited the speeches of the general authority and its spiritual centrality and attempted to militarize its discourse and invest it in its activities and security and political projects. Therefore, the authority, in its statement, lifted the cover from everyone who carries weapons and tries to find an address for this burden outside the scope of the state.”
He points out that “the authority in its statement separated its value and spiritual discourse from political investments by drawing a general vision of solutions in Iraq, which is reflected in the spiritual leadership represented by the authority supporting the centrality of the state. It is a central discourse and can be called the statement of the central authority that supports the centrality of the Iraqi state, the centrality of the spiritual authority, and also the centrality of international support.”
He explains, “Because Mr. Sistani’s statement indicated the failure of the international umbrella to contain the humanitarian situation, and that the statements put forward by the authority in the context of humanitarian aid or making room for supporting the displaced is a humanitarian path that has nothing to do with politics. Sistani also rejected foreign interventions in their general framework, or that the path of Iraqi national security should turn into a path linked to the national security of other countries.”
“This is an implicit response to some reports that the religious authority is on the list of targets, and the UN representative confirmed this meaning in his speech after leaving the meeting when he said (We condemn any process of mentioning or mentioning the name of the authority in the political or security conflicts occurring in the region) in reference to the emphasis that Sistani’s presence in Iraq is not political,” says Al-Yasiri.
He confirms that “Sistani has not received any Iraqi politician since 2015, and he is still insisting on this position, so today Sistani has returned Iraq to the square of 2004 and the constitutional revolution that he supported, and he confirmed the failure of the political experiment in Iraq and did not refer to the failure of democracy, but rather the political actors were not up to the level of responsibility, and this is what the authority has also indicated on previous occasions, but today was a confirmation of this meaning.”
The highest Shiite authority in Iraq, Sayyid Ali al-Sistani, identified seven factors for “the stability of the country,” stressing that the Iraqis have a “long path” ahead of them to achieve this.
This came according to a statement issued by his office in Najaf, after he received this morning Mohammed Al-Hassan, the representative of the Secretary-General of the United Nations and head of its mission in Iraq (UNAMI) and the accompanying delegation.
The statement explained that Al-Hassan gave Al-Sistani a brief explanation of the tasks of the international mission and the role it aims to play in the coming period.
In return, the reference Sistani welcomed the presence of the United Nations in Iraq and wished its mission success in carrying out its tasks.
Al-Sistani pointed to the major challenges facing Iraq at the present time and what its people are suffering on more than one level.
“Iraqis, especially the conscious elites, should learn from the experiences they have gone through and do their utmost to overcome their failures and work hard to achieve a better future for their country in which everyone enjoys security, stability, progress and prosperity,” said the Grand Ayatollah Sistani, stressing that “this cannot be achieved without preparing scientific and practical plans to manage the country based on the principle of competence and integrity in assuming positions of responsibility, preventing foreign interference in all its forms, enforcing the rule of law, restricting arms to the state, and combating corruption at all levels.”
Al-Sistani added: “But it seems that the Iraqis have a long way to go before they achieve this, may God help them.”
Regarding the volatile situation in the region, the reference expressed his “deep sorrow over the ongoing tragedy in Lebanon and Gaza and his deep regret over the inability of the international community and its institutions to impose effective solutions to stop it or at the very least to neutralize civilians from the tragedies of the fierce aggression practiced by the Israeli entity.” LINK
News, Rumors and Opinions Tuesday AM 11-5-2024
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Tues. 5 Nov. 2024
Compiled Tues. 5 Nov. 2024 12:01 am EST by Judy Byington
Judy Note: What We Think We Know as of Tues. 5 Nov. 2024:
A Global Currency Reset to gold/asset-backed currencies has already begun including activation of the GESARA/NESARA Laws and debt forgiveness for The People and nations Worldwide.
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Tues. 5 Nov. 2024
Compiled Tues. 5 Nov. 2024 12:01 am EST by Judy Byington
Judy Note: What We Think We Know as of Tues. 5 Nov. 2024:
A Global Currency Reset to gold/asset-backed currencies has already begun including activation of the GESARA/NESARA Laws and debt forgiveness for The People and nations Worldwide.
As part of GESAR/NESARA Taxpayer Dollars will be returned to The People instead of being paid to the Cabal’s UK Crown and Vatican which has (allegedly) stolen those monies since the early 1900s.
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:
Mon. 4 Nov. 2024: New Development Bank President Dilma Rousseff announced that there has been an agreement in principle to use a new settlement currency called the Unit, which will be backed 40 percent by gold and 60 percent by local currencies in BRICS countries. https://www.nasdaq.com/articles/how-would-new-brics-currency-affect-us-dollar-updated-2024#:~:text=%22(New%20Development%20Bank%20President%20Dilma,BRICS%20union%20%E2%80%94%20the%20BRICS%2B%20countries.
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Mon. 4 Nov. 2024 BREAKING! High-Level Leaks Confirm Imminent Collapse of the Current Financial System—EBS, QFS, and NESARA Rollout Are Ready! …Charlie Ward on Telegram
The cracks in the old system are growing, and the truth is spilling out faster than they can cover it up. Whispers about the Quantum Financial System (QFS), the Emergency Broadcast System (EBS), and NESARA have become roaring truths among those in the know.
The signs are everywhere, and those who see know what’s coming. The QFS is on its way. The EBS will soon be triggered. NESARA is about to be implemented. These leaks are not accidents—they are warnings. The massive changes are already in motion.
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Mon. 4 Nov. 2024 BREAKING: Tier 4B Internet Group Activated – Military Coup Underway, Martial Law Imminent as GESARA, Earth Alliance, and White Hats Prepare the Quantum Financial System to Wipe Out the Deep State! …Ben Fulford on Telegram
The gloves are off, and the Tier 4B Internet Group is active, signaling a seismic shift that will shake the world to its core. This isn’t just a platform; it’s the start of a movement for financial freedom and sovereignty.
The Quantum Financial System (QFS) is now in play, a safeguard against a corrupted financial system. This moment isn’t for questioning—it’s a clarion call for patriots ready to reclaim control. While the masses sleep, the QFS is laying the foundation for a new awakening.
Project Phoenix: With the NESARA/GESARA alliance and Starlink, Project Phoenix is on the horizon.
Read full post here: https://dinarchronicles.com/2024/11/05/restored-republic-via-a-gcr-update-as-of-november-5-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Some new financial guru here saying the new hybrid monetary plan will bring more alliance on the dinar instead of the dollar restrictions. Saying it will make the dinar a base currency and a base currency is the main currency in a group of currencies that are traded in the international Forex...He's saying they are going on Forex soon. FRANK: When they talk to you about a base currency, they are trying to tell you your nation will become a financial central hub with many currencies coming in from around the world that will play an important part in the international float of the Iraqi dinar in order to reach the real effective exchange rate. Forex is but one example of how they will do this.
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.
Bond Selloff Imperils Stock Markets | Alasdair Macleod
Liberty and Finance: 11-4-2024
Alasdair Macleod discusses the current vulnerabilities of equity markets due to rising bond yields, the implications for ordinary investors and the financial system, and the geopolitical dynamics surrounding currencies.
He emphasizes the importance of gold and silver as real money and critiques the actions of central banks and financial institutions.
MacLeod also addresses the potential future of gold-backed bonds and the challenges facing the dollar and other fiat currencies.
INTERVIEW TIMELINE:
0:00 Intro
0:53 Stock market
7:00 Rising US bonds yields
14:00 Impact of higher yeilds
16:30 Banking system
21:22 BIS & BRICS
24:42 BRICS & gold
30:17 Systemic problems
33:19 Trump & gold currency
36:00 Gold price
MilitiaMan & Crew News Report-ICC-Investors-RIYADA BANK-Port of Faw-3 Presidents Seated-Removing Cash-Al-Sistani
MilitiaMan & Crew News Report-ICC-Investors-RIYADA BANK-Port of Faw-3 Presidents Seated-Removing Cash-Al-Sistani
11-4-2024
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
MilitiaMan & Crew News Report-ICC-Investors-RIYADA BANK-Port of Faw-3 Presidents Seated-Removing Cash-Al-Sistani
11-4-2024
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Seeds of Wisdom RV and Economic Updates Monday Evening 11-4-24
Good Evening Dinar Recaps,
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.
Good Evening Dinar Recaps,
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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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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🌱 KEY CHANGES FOR TAXPAYERS IN 2025 | Youtube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
~~~~~~~~~
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5 Effective Ways To Stop Impulse-Buying And Save Money
5 Effective Ways To Stop Impulse-Buying And Save Money
Learn how to shop more intentionally (without feeling deprived)
Shira Gill | Organizing Expert
These tips will help you slow your roll when it comes to impulse buying, live more sustainably, and save a boatload of money. File that under #winwin.
5 Effective Ways To Stop Impulse-Buying And Save Money
Learn how to shop more intentionally (without feeling deprived)
Shira Gill | Organizing Expert
These tips will help you slow your roll when it comes to impulse buying, live more sustainably, and save a boatload of money. File that under #winwin.
Tip One: Practice Using What You Own
Over the past few months I’ve been shocked at how often I feel the urge to buy something that I already own a perfectly good version of, including, but not limited to: lip balm, cozy sweaters, and pretty ceramic mugs.
I’ve been getting in the practice of noting the desire for the item in question, and then looking in my own home to see if I own something that could serve the exact same purpose.
This simple habit shift has prevented me from buying more than a handful of items I truly had no need for. Money saved, lessons learned.
Tip Two: Leverage The Power Of The Pause
In a culture that promotes instant gratification, even a brief pause can be a powerful tool in the fight against impulse buying.
Try writing down or snapping a photo of items you want before pulling the trigger.
I’ve found that when I do this I typically quickly forget about whatever thing I thought I desperately needed in the moment. Poof, it’s gone.
TO READ MORE: https://www.yahoo.com/lifestyle/story/5-effective-ways-to-stop-impulse-buying-and-save-money-014936616.html
Economist’s “News and Views” 11-4-2024
West Panic: China Takes Over mBridge, Saudi Oil For RMB Next, Gold Is Leaving London
Sean Foo: 11-4-2024
The Bank of International Settlements has officially dumped the Bridge project. This leaves China with near total control of the payments system opening up a ton of scary possibilities.
Oil trade in the Yuan could be next.
Meanwhile, central banks like India are escalating their gold repatriation. Here's what you must know.
West Panic: China Takes Over mBridge, Saudi Oil For RMB Next, Gold Is Leaving London
Sean Foo: 11-4-2024
The Bank of International Settlements has officially dumped the Bridge project. This leaves China with near total control of the payments system opening up a ton of scary possibilities.
Oil trade in the Yuan could be next.
Meanwhile, central banks like India are escalating their gold repatriation. Here's what you must know.
Timestamps & Chapters:
0:00 West Dumps mBridge On China
2:41 The Petroyuan Risk Escalates
5:45 BRICS Giant Pulls Out Its London Gold
6:54 Sponsor: Indigo Precious Metals
8:18 Central Banks Want Their Gold Back
9:31 mBridge Dump Will Hurt US Assets
12:00 Exit Dollars, Enter Gold
THE STOCK MARKET. We Have TWO MAJOR PROBLEMS. And Either One Can Cause A MELTDOWN.
Greg Mannarino: 11-4-2024
World's Most Powerful & Secretive Financial Institution: What It's Done & Planning Next – Adam LeBor
Kitco News: 11-4-2024
Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews Adam LeBor, Author of 'Tower of Basel,' who dives into the history of the world's most influential and secretive financial institution.
The interview pulls back the curtain on the mysteries of the Bank for International Settlements (BIS) – the central bank of central banks. LeBor explains the BIS's controversial history from its inception to its role in global financial crises and its influence on modern banking regulations.
He also outlines the role gold plays. LeBor explains BIS's project mBridge, and its significance going forward, shedding light on the elusive bank's operations and the potential future shifts in the financial world.
00:00 Introduction: the BIS
04:38 History of the BIS & Its Role in Global Finance
09:42 The BIS's Headquarters & Immunities
21:26 The BIS's Controversial Past
37:06 The London Gold Pool & Gold Manipulation
42:17 The BIS & the Euro
45:24 Post-War European Economy & the BIS
46:21 Formation of the European Central Bank
48:01 The Euro and National Sovereignty
54:18 BIS's Role in Financial Crises
55:58 Gold and the Basel Accords
57:27 Project mBridge & CBDCs
01:09:24 Concerns Over CBDCs & Financial Control
Monday Evening News With MarkZ 11-4-2024
Monday Evening News With MarkZ
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good evening Mark and Mods …hope all is well
Member: Am I the only one praying this is the last time we see Mark without the golden (RV Happened) shirt?!
Member: No matter who wins in the election tomorrow…do you still think they will release the RV?
Monday Evening News With MarkZ
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good evening Mark and Mods …hope all is well
Member: Am I the only one praying this is the last time we see Mark without the golden (RV Happened) shirt?!
Member: No matter who wins in the election tomorrow…do you still think they will release the RV?
MZ: None of my sources think that this is going to go wrong. They will be waiting for the announcement then RV things are all going to rip forward.
MZ: So much does seem to be waiting on the outcome of this election. But I continue to hear positive things.
Member: The whole dadgum world is holding their breath right now, you can feel it...
Member: I always thought we wouldn’t go until after the election….so glad its almost over.
MZ: I would like to remind you that Iraq is moving forward with or without this election. They have paved the road and done their due diligence. I very much expect the announcement of Iraq and the WTO full membership ascension no later than sometime in December. We should have articles tomorrow to confirm that.
Member: I believe we will go before the public announcement. Iraq will force RV if they don't flip the switch
Frank 26 basically said it will be done no later than the 9th
MZ: “The Arathmetic Arab dinar is a Arab tool for Arab economic integration” Arab countries are pooling currencies to pa for things within the Arab nations. It appears they are working on a basket of currencies to standardize trade. This is part of a revaluation of those currencies and Iraq is part of that. .
MZ: On the bond side – its very quiet but, Here’s a fun article from Gold Telegraph with Judy Shelton. She is largely expected to be one of the top Treasury of Fed nominations. She said she wants the united States to be a leader if there is any gold backing of a currency. She is author of the book “Good as gold” and an advocate for sound money. This was posted yesterday…
MZ: “ Taxpayers cannot pay for the misconduct of banks- Swiss finance minister” She is telling them the people of Switzerland will not be bailing anybody out.
Member: I got an email from my credit union today saying they will be back open tomorrow but were “short staffed” and had to close today. Hmmmmm
Member: So we should expect our world to turn completely upside down tomorrow one way or another. I’m praying God rocks everyone’s world and rains His blessings down!
Member: I'm just curious what will we be talking about on Wednesday?
Member: Good night everyone, see yall on the other side
Member: Stay safe Markz and everyone else….Tomorrow could be a very hectic day
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...
Mod: MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM
MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.
THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL IN THE MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!
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.
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
~~~~~~~~~
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
~~~~~~~~~
🌱 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.
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.
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.