“Tidbits From TNT” Friday 11-8-2024
Tishwash: Al-Alaq describes the parallel dollar as “abnormal”: There is great stability in prices
The Governor of the Central Bank of Iraq, Ali Al-Alaq, described the prices traded in a real parallel market as “abnormal,” while pointing out that there is great stability in prices and a decline in inflation rates.
Al-Alaq said in an interview with local media outlets: “We understand the focus on the rise in exchange rates in local markets, but we believe that the focus should be on the ability of the Central Bank to implement full coverage of foreign transfers for commercial or other purposes, and this happens on a daily basis.”
TNT:
Tishwash: After extending the legislative term... Parliamentary movement to pass 5 "important" laws
Member of Parliament Mudar Maan confirmed, today, Thursday (November 7, 2024), that the extension of the legislative session for 30 days came with political consensus to decide on 5 "important" laws.
Maan said in an interview with Baghdad Today, "The extension of the legislative session for 30 days came with political consensus among the forces due to the importance of proceeding with the vote on 5 laws that have reached the final stages, most notably the amendment of the general amnesty law and the rest of the other laws."
He added that "the extension comes in order to give the committees a chance to complete their work and proceed in the upcoming sessions to vote on the laws that concern many segments of Iraqi society," stressing that "there are agreements to proceed with the laws."
Maan pointed out that "the House of Representatives will proceed at a faster pace in deciding the laws during the extension, during which we will see important laws put to a vote."
The media department of the House of Representatives stated in a brief statement today, Thursday, that the House Presidency decided to extend the current legislative session for 30 days, starting from November 9. link
Tishwash: Al-Alaq describes the parallel dollar as “abnormal”: There is great stability in prices
The Governor of the Central Bank of Iraq, Ali Al-Alaq, described the prices traded in a real parallel market as “abnormal,” while pointing out that there is great stability in prices and a decline in inflation rates.
Al-Alaq said in an interview with local media outlets: “We understand the focus on the rise in exchange rates in local markets, but we believe that the focus should be on the ability of the Central Bank to implement full coverage of foreign transfers for commercial or other purposes, and this happens on a daily basis.”
He added, "The daily dollar selling rates are high and almost sufficient to cover the needs of traders, businessmen and even citizens, and therefore we look at the price through the amount of sales that the Central Bank undertakes daily at the official price."
He pointed out that “the Central Bank looks at another indicator, which is the inflation rate in the market, and we notice that there is great stability in prices and a decrease in the inflation rate, which indicates that foreign trade is covered by the official price, which is 132,000 dinars.” (Per dollar)
The Central Bank Governor continued: “The price that is traded in the market is in fact an abnormal price that does not reflect the true price. Usually, this price is called a parallel price when there is a real parallel market with sources of dollars other than the Central Bank.”
Al-Alaq called on citizens to “pay attention to the fact that the price they are looking at is the price at which the Central Bank sells to traders,” noting that “more than 95% of the Central Bank’s daily sales are foreign transfers, and this foreign transfer is what represents the reality of commercial and other operations that it covers at the official price.” link
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Tishwash: Al-Sudani takes a number of steps regarding financial and banking reform in Iraq
Prime Minister Mohammed Shia al-Sudani directed, on Friday, to take a number of steps within the framework of banking and financial reform in the country, including increasing the number of bank branches in the governorates, as most activities are concentrated in the capital, Baghdad.
Al-Sudani's media office stated in a statement today that "within the framework of efforts to reform the financial and banking system, as one of the priorities of the government program, and in light of the important steps achieved during the past two years, and in light of the challenges facing the financial and banking system, especially in the governorates, and since confronting them requires greater attention and radical improvements to ensure enhancing confidence in the financial and banking sectors, facilitating the process of economic development, increasing financial inclusion and raising its indicators throughout the country, and because most of the activities were concentrated in the capital, Baghdad, Al-Sudani directed that a number of steps be taken in this regard."
Among the steps, according to the statement, is “increasing the number of bank branches in the governorates to meet the needs of the local population, and in a way that contributes to expanding the scope of financial services, while paying attention to buildings, their modernity, and providing their basic requirements.”
The statement pointed out the necessity for all banks in the governorates to adopt modern technologies such as online banking services and mobile applications, which facilitates citizens’ access to their banking services easily.
The statement stressed the importance of banks developing their financial services to suit the needs of individuals and small businesses, such as soft loans and savings accounts.
The media office pointed out the enhancement of financial inclusion in the governorates by providing banking services to different segments of society, including districts and sub-districts in villages and rural areas.
The statement called for launching conferences and awareness campaigns in the governorates, to educate citizens about the importance of dealing with banks and how to manage and invest money properly.
The statement directed the organization of workshops to train young pioneers and local businessmen on how to deal with loans and financial services.
The statement added that the Ministry of Finance, the Central Bank of Iraq, and the Iraqi Private and Islamic Banks Associations will coordinate with the governors’ offices to accomplish the above tasks according to their jurisdiction and responsibility, and submit quarterly reports (every three months) to the Prime Minister’s Office regarding the progress of work on the steps mentioned above. link
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Tishwash: Parliamentary Oil: Gas licensing rounds will support the financial budget
The Parliamentary Oil and Gas Committee stressed, on Thursday, the importance of gas licensing rounds in diversifying Iraq's imports and supporting its budget with new sums.
Committee member Ali Saadoun said in an interview with Al-Maalouma Agency, “The gas licensing rounds are of great benefit to Iraq and provide the financial budget with sums through extracting and selling gas, as well as diversifying the state’s imports.”
He added, "There are quantities of gas in several exploration extraction areas, and the companies that have applied to work in them are diverse, including Chinese companies, and they will begin their activities," indicating that "this important step was supposed to take place 10 years ago."
It is noteworthy that the Minister of Oil, Hayan Abdul Ghani, had previously expected an increase in gas production by 3 billion cubic feet as a result of the licensing rounds. link
Mot: The Box - Simon's Cat...... https://www.youtube.com/watch?v=EKvNqe8cKU4
Mot: Christmas Cat
Coffee with MarkZ and Mr. Cottrell. 11/08/2024
Coffee with MarkZ and Mr. Cottrell. 11/08/2024
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good Morning and wow- Friday already!!! Friday before a 3 day weekend!!
Member: Ready for some good RV news today!
Coffee with MarkZ and Mr. Cottrell. 11/08/2024
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good Morning and wow- Friday already!!! Friday before a 3 day weekend!!
Member: Ready for some good RV news today!
MZ: In Iraq: You know how they extended the parliamentary session for 30 days……Do you know exactly when they extended it too?
Member: Iraq freedom day on Dec. 10th when Sudani said he hoped to finish the monetary reform by….
MZ: Yup- Isn’t that interesting. Sudani was overheard saying they planned to have the revaluation completed, everything done by Victory Day. Which is December 10th….. This is from a number of folks in parliamentary finance who heard the comment. This means they have to go soon if it’s to be “completed by Dec. 10th.
MZ: “After the extension of the legislative term- Parliamentary movement to pass 5 important laws” I believe one of those is the HCL..
Member: Does the parliamentary delay mean a delay for the RV?
Member: No it means they need to hurry up the RV. imo
MZ: “Sudani issues 6 directives to increase financial inclusion and raise its indicators in all governates” These include increasing number of banking branches, modern technologies, banking services…ect. They have modernized their banking system for the rise in value of their currency. This is all part of their white papers and economic reforms. One of their goals is to raise the purchasing power of the dinar for all Iraq. That means a revaluation (RV) or Re-instatement.
MZ: “ Economist: Faw port and Development Road will achieve 6 % of oil revenues” if oil revenues are $100 trillion dinar – than 6% is $6 trillion dinar in non oil revenues in fees, tariffs ect…..Iraq is broadening their economic base. .
Member: How many times has Iraq revalued its currency- I heard 3 times.
MZ: Yes – at least 3 times for a massive change. I believe the last one was in the early 80’s. So at least 3 times in the last 100 years.
MZ: Bond folks are still silent. Still hitting a brick wall…..But I would remind you what I shared yesterday on that front. I do not think we are going to hear anything until it all breaks loose. I could be wrong and if there is a change I will tell you.
MZ: I am particularly excited on where we are at and expect great news over the weekend and early next week
Member: Hey Mark! Is there a relationship between the bonds being payed going and Iraq reinstating their currency? So, so if the bonds are paid, Iraq goes too?
Member: So, if it's completed on Dec 10th, when does it begin? What the ETA on turn-around time?
Member: Why does no one believe Al Sudani? He always said by the end of the year Auctions for US dollars will end….. instead of taking a deep breath and holding it, let it out so you have the living breath to enjoy life after.
Member: Federal reserve Powel is refusing to stand aside lol ….well I guess when the Fed is gone- you will be by yourself
Member: Usually, the Fed Board of Governors elects their Chairman and sends it to the President, who then announces it to the Country and the World! Powell's term as Chairman ends in 2026!
MZ: “Fed Chairman Powel says he feels good about the economy and Trump cannot legally fire him” Can he or can’t he? The Constitution of the United States says that “ No bank or state can create any currency other than Gold and Silver” So our currency lawfully must be backed by gold and silver. So what was illegal is the Federal Reserve act in 1913!
MZ: What Trump could do (if my understanding of the constitution is correct ) is sign an executive order…..This could cause a constitutional crisis and the Supreme court would have to rule. If it goes to the supreme court……the constitution is clear. And the Federal Reserve would be “Out of Business” . And the US Treasury would be in Business with a gold/asset backed new currency. LOL….I think Mr. Powell should refuse to go quietly….lol
Member: I wonder-Does the U.S. treasury have the final say to pull the trigger?
Member: I wonder if getting rid of Powell would be a great way to kick off Nesara/Gesara
MZ: It may be a great opportunity to do it.
Member: We're praying for many who are on the verge of giving up on the RV & NESARA and MedBeds.
Member: I've put my expectations to mid December. If it's sooner - I'll be wondrously surprised and thrilled.
Member: What chance do you think we have of notification over the weekend?
Member: My tin-foil hat logic - Today would be a great day to RV. Why? It's a 3 day weekend and, as of today, there's exactly 47 days left in 2024 - a perfect day for 47 to introduce Nesara kicking off.
Member: Monday, 11/11 is my birthday! That'd be a great gift!
Member: Happy Veterens day to all veterans and their families. Thank you for your service.
Member: Thank you Mark! Thank you Mods and Mr. C! Have a great Friday everyone!
Mr. Cottrell and CBD Gurus join the stream today. Please listen to the replay for thier information and opinions
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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Iraq Economic News and Points To Ponder Friday am 11-8-24
Al-Alaq Describes The Parallel Dollar As “Abnormal”: There Is Great Stability In Prices
November 7, 2024 Baghdad/Iraq Observer The Governor of the Central Bank of Iraq, Ali Al-Alaq, described the prices traded in a real parallel market as “abnormal,” while noting that
there is great stability in prices and a decline in inflation rates. Al-Alaq said, in an interview with local media, followed by “Iraq Observer”: “We understand the state of focus on the rise in exchange rates in local markets, but we believe that the focus should be on the ability of the central bank to implement full coverage of external transfers for commercial or other purposes, and this “It happens on a daily basis.”
Al-Alaq Describes The Parallel Dollar As “Abnormal”: There Is Great Stability In Prices
November 7, 2024 Baghdad/Iraq Observer The Governor of the Central Bank of Iraq, Ali Al-Alaq, described the prices traded in a real parallel market as “abnormal,” while noting that
there is great stability in prices and a decline in inflation rates. Al-Alaq said, in an interview with local media, followed by “Iraq Observer”: “We understand the state of focus on the rise in exchange rates in local markets, but we believe that the focus should be on the ability of the central bank to implement full coverage of external transfers for commercial or other purposes, and this “It happens on a daily basis.”
He added, “The daily dollar selling rates are high and almost sufficient to cover the needs of merchants, businessmen, and even citizens.
Therefore, we look at the price through the amount of sales that the Central Bank undertakes daily at the official rate.” He pointed out,
“The Central Bank looks at another indicator, which is the inflation rate in the market, and
we notice that there is great stability in prices and a decrease in the inflation rate, which indicates that foreign trade is covered by the official price, which is 132,000 dinars.” The Governor of the Central Bank continued:
“The price that is being traded in the market is in fact an abnormal price that does not reflect the reality of the price.
Usually, this price is called a parallel price when there is a real parallel market that has sources of dollars from other than the Central Bank.”
Al-Alaq called on citizens to “pay attention to the fact that the price they are looking at is the price at which the Central Bank sells to merchants,” pointing out that
“more than 95% of the Central Bank’s daily sales are external transfers, and
this external transfer is the one that represents the reality of commercial and other transactions.” He covers it at the official price.” https://observeriraq.net/العلاق-يصف-دولار-الموازي-بـالشاذ-وجو/
The Governor Of The Central Bank... Who Goes To Buy Dollars From The “Black Market”?
November 7, 2024 Baghdad/Iraq Observer The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, identified the categories that go to buy dollars from the black market. Al-Alaq said, in an interview with local media, followed by “Iraq Observer,” that
“a number of merchants, for their own reasons, still do not come using the traditional method and transfer what they need at the official price, but the percentage of these merchants decreases over time.” He added,
“There were a small number of people entering the platform for external transfers,
but now the numbers have become large and constantly increasing, and
when we reach the point that everyone is moving to use official and fundamentalist channels in the transfer process, then we find no room for there to be two prices for the dollar.”. The Governor of the Central Bank wondered:
“Why do some people go to buy the dollar on the black market if they have a legitimate request to obtain the dollar, such as if they are a traveler or a citizen buying from abroad or a merchant importing goods or a person who refers to related people abroad for study or treatment or for each other?” Purposes? https://observeriraq.net/محافظ-البنك-المركزي-يُحدد-من-يذهب-لشرا/
Iraq's Possession Of Gold Increased To More Than 152.5 Tons
Economy 2024-11-06 Shafaq News/ The World Gold Council announced, on Wednesday, that Iraq had increased its gold holdings to more than 152.5 tons.
According to the latest table published by the Council for the month of November 2024, viewed by Shafaq News Agency,
“Iraq ranked 29th out of 100 countries included in the table with the largest gold reserves,” indicating that
“Iraq ranked third in the Arab world after Saudi Arabia and Lebanon.” He added,
"Iraq increased its possession of gold to 152.6 tons after its possession was 152.5 tons, which represents 11.5% of its other reserves." The Council also pointed out that
“the United States of America sits on the throne of the rest of the countries with the largest possession of gold in the world at 8,133.5 thousand tons, followed by Germany with 3,351.5 thousand tons, then Italy came with 2,814 thousand tons, while Bosnia and Herzegovina came at the bottom with 1.5 thousand tons.” tons".
It is noteworthy that the World Gold Council is based in the United Kingdom, has extensive experience and deep knowledge of the factors causing market change, and its members consist of the largest and most advanced gold mining companies in the world. https://shafaq.com/ar/اقتصـاد/ارتفاع-حيازة-العراق-من-الذهب-لى-كثر-من-152-5-طنا
Iraq Is Entering A New Economic Phase.. “Huge” Ships Dock In The “Large” Port
November 7, 2024 Basra/Iraq Observer With the receipt of the five berths of Al-Faw Port from the Korean executing company, Iraq entered the era of a state whose ports overlooking the Gulf are officially relied upon to receive huge ships.
An event that Prime Minister Muhammad Shiaa Al-Sudani, who sponsored today’s handover ceremony for the project that the government described as the “People’s Project,” stressed that
“it is of great importance because of its connection to the development road project, which will connect, starting from the large port of Al-Faw, the economies of most countries in the region, and will be an outlet for achieving integration.
” The economist, pointing out that Iraq remains a fundamental pillar in the global economy, and a historical part and corridor of the most important international exchange routes.
During the opening, Al-Sudani pointed out the importance of the five berths in the Grand Al-Faw Port.
It represents the backbone of the port project in its first phase, which will be completed next year according to the previous schedules.
Huge commercial ships with large submersibles have already docked at the port’s docks.
Increase Revenue
Member of the Parliamentary Finance Committee, Mustafa Al-Karawi, said in a statement to the official agency, followed by “Iraq Observer,” that
“Iraq depends on oil for its resources by 90%, and
there is serious government work and direction to increase non-oil revenues,” indicating that
“the importance of ports lies in their It represents two revenue streams: the
first is oil through exporting oil and receiving oil tankers, and the
other is through the entry of goods.” He added,
“The opening of the five berths and the completion of the investment in Al-Faw Port will contribute to supporting the path of development, in addition to being part of the Silk Road,” noting that
“Iraq is located in a geographical area that makes it a link between the major countries, China and Europe.”
Development Path
In turn, the Prime Minister’s Advisor for Transport Affairs, Nasser Al-Asadi, said in a statement to the official agency and followed by “Iraq Observer” that
“the opening of the first berths of the port will be followed by the opening of the remaining berths within the specified periods,” pointing out that
“the economic importance of these berths lies in opening the door Iraq has to make the Al-Faw Port project a reality, transforming it into a diversified economy through Al-Faw Port’s revenues.” He stated,
“Al-Faw Port has become a reality and will be the main artery of development, in addition to providing great job opportunities.” He confirmed,
“The ships have begun to dock experimentally at the five berths, all of which have been opened,” noting that
“there are other parts of the port that are close to completion.”
Giant Ships
Economic analyst Ahmed Abd Rabbo confirmed in a statement to the official agency, which was followed by “Iraq Observer,” that
“Al-Faw port differs from other ports in Iraq in that it is directly connected to the Gulf, while the other ports are in sea channels, and the
opening of the five berths means inaugurating the phase of Iraq’s reception of giant and large ships that... It was impossible to enter.” He stated,
“The other advantage of Al-Faw Port is the depth of its waters, which differs from other ports, and this matter will contribute to the process of actually embarking on the path of development by allowing ships of various sizes to dock.” He continued,
“The opening of the docks cut off the talk of those who doubted the completion of Al-Faw Port and began the countdown to the completion of the Grand Al-Faw Port project.”
Attracting international shipping companies
Economic expert Ahmed Saddam said in a statement to the official agency and followed by “Iraq Observer” that
“the expected economic importance of Al-Faw port after completing other equipment such as cranes, warehouses, management systems and their accessories lies in encouraging the entry movement of large ships that need a large draft, as well as reducing the burden on Umm port.” castle". He continued,
“This means that Al-Faw Port will contribute to attracting new shipping companies in the future that can raise the level of the port’s revenues.” He pointed out,
“Other positives for the Iraqi economy are the provision of
employment opportunities within the port, as well as
opening the door to internal land transport companies that will deal with the port in the future.” He stated,
“If we take into account the activation of the Basra Law, the economic capital of Iraq, then
Al-Faw Port will be the mainstay for attracting foreign direct investment companies after providing appropriate facilities for that.
This will naturally be reflected in the Iraqi economy by raising the level of non-oil investments and their revenues.” https://observeriraq.net/العراق-يدخل-مرحلة-اقتصادية-جديدة-السف/
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/
Seeds of Wisdom RV and Economic Updates Friday Morning 11-8-24
Good Morning Dinar Recaps,
XRP LAWSUIT: ARE RIPPLE’S BRAD GARLINGHOUSE AND CHRIS LARSEN AT RISK OF PRISON, OR WILL THE SEC WITHDRAW ITS APPEAL?
The final phase of the crypto bull market appears to have begun, with Bitcoin hitting new highs and altcoins starting to show signs of life. Meanwhile, there’s growing speculation that the SEC’s new chair could end lawsuits against Ripple, Coinbase, and others. Former SEC officials are predicting big changes ahead.
It seems like SEC Commissioner Mark Uyeda is in the running to be appointed acting SEC chair during the transition period after Gary Gensler’s departure.
Good Morning Dinar Recaps,
XRP LAWSUIT: ARE RIPPLE’S BRAD GARLINGHOUSE AND CHRIS LARSEN AT RISK OF PRISON, OR WILL THE SEC WITHDRAW ITS APPEAL?
The final phase of the crypto bull market appears to have begun, with Bitcoin hitting new highs and altcoins starting to show signs of life. Meanwhile, there’s growing speculation that the SEC’s new chair could end lawsuits against Ripple, Coinbase, and others. Former SEC officials are predicting big changes ahead.
It seems like SEC Commissioner Mark Uyeda is in the running to be appointed acting SEC chair during the transition period after Gary Gensler’s departure.
This is huge for the crypto space, especially since Uyeda is known for being more favorable towards the industry. There’s also a chance that Hester Peirce, another crypto-friendly commissioner.
Jeremy Hogan, a crypto lawyer, also shared his thoughts, predicting that Gensler will likely step down before January 20th. He believes that the new leadership will move quickly to dispose of non-fraud crypto cases, including those involving Ripple and Coinbase.
This could lead to the dismissal of many ongoing cases, with the Ripple case likely settled for the $125 million already awarded by the court.
Amid the ongoing uncertainty surrounding the current administration, one user asked whether a new, crypto-friendly government could lead the SEC to withdraw its appeal in the Ripple case.
Marc Fagel, a former SEC attorney said that typically, enforcement actions are based on the law, not political influence, and it would be highly unusual for the SEC to reverse course. However, with the current administration challenging traditional norms, it’s hard to predict what could happen next.
When asked whether Ripple executives Brad Garlinghouse, David Schwartz, and Chris Larsen could face prison time for alleged fraud, the attorney declined to comment. The user accused them of “scamming people for over 10 years” and profiting hundreds of millions did not receive a direct response.
@ Newshounds News™
Source: CoinPedia
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DEFI NEEDS REGULATION TO DRIVE ADOPTION — WEB3 EXEC
Web3 professional Agne Linge believes that for broader DeFi adoption, regulations must catch up to make people feel safe.
While decentralized finance (DeFi) technology is advancing within the Web3 space, a crypto executive believes the sector still has a long way to go.
At the recent Binance Blockchain Week in Dubai, Agne Linge, a former director of Binance Lithuania who now works with Web3 projects WeFi and Yellow Network, told Cointelegraph that while regulations in jurisdictions like Europe have addressed centralized exchanges and wallet providers, DeFi remains largely “out of scope.”
Linge believes that for DeFi to achieve broader adoption, regulations must be deployed for the industry. Linge told Cointelegraph:
“If you want adoption, we need regulation. We need people to feel safe and to trust the institutions. With what happened in the crypto industry, I think we still have some reputational work to do.”
Linge also praised regulators for “weeding out” bad actors in the ecosystem and trying to understand the technology but emphasized that DeFi also needs attention.
DeFi not “totally” decentralized
While some in the crypto community believe DeFi should operate without regulation, Linge has a different view. The executive said that even decentralized autonomous organizations (DAOs) members are in danger of being legally accountable. She said:
“This is not true. I mean, even a DAO. If you are a DAO, then all of the DAO members can be legally liable.”
According to Linge, the space needs regulation because it’s “not totally decentralized.” Linge explained that DeFi still has people signing contracts, on and off-ramp providers, and other variables that would benefit from regulatory clarity.
When asked about DeFi’s potential for wider adoption, Linge argued that, because DeFi places finance on a decentralized blockchain, it could reduce reliance on centralized options:
“With the tools that we have, everything is widespread and globally connected, why would we use centralized solutions? I mean, this will provide more efficient interaction and integration to everything.”
She added that while DeFi is currently in its own niche, it will eventually take another shape or form. “Maybe not completely like autonomous. There will be persons responsible like legal entities, but in general, the infrastructure is only for the benefit of this globally interconnected world,” Linge added.
@ Newshounds News™
Source: CoinTelegraph
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@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
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News, Rumors and Opinions Friday AM 11-8-2024
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 Fri. 8 Nov. 2024
Compiled Fri. 8 Nov. 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Thurs. 7 Nov. 2024 The EBS: The Moment We’ve Been Waiting For …Patrick B. Kennedy on Telegram
After the 10 days of darkness, we will reconnect to a new quantum internet. The old systems of government, education, finance, health, and commerce? Gone. A new age is coming.
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 Fri. 8 Nov. 2024
Compiled Fri. 8 Nov. 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Thurs. 7 Nov. 2024 The EBS: The Moment We’ve Been Waiting For …Patrick B. Kennedy on Telegram
After the 10 days of darkness, we will reconnect to a new quantum internet. The old systems of government, education, finance, health, and commerce? Gone. A new age is coming.
Thurs. 7 Nov. 2024 Bruce:
Everything should be released at once: Bonds, R&R, all tiers, everything.
Tier4b (us, the Internet Group) should receive notification to set appointments over the weekend.
Exchanges should start on Tues. 12 Nov.
The new rates for 17 currencies were locked in today Thurs. 7 Nov. 2024
Security should be initiated at 7 pm tonight and be in effect sometime Sat. 9 Nov. 2024.
~~~~~~~~~~~
RUMORS:
Tues. 5 Nov. 2024 Julian Assange: All Intel is saying “Next Week.” Safe link 800# will be released closer to go date. Bond funds were being delivered to paymasters. Private appointments are being made now. Zim Cap information is changing daily but as of now they are paying as follows: NO projects = 15 million no matter amount you might hold. With projects = First 2 bond notes are 1 to 1 after this 25 million (per 100T) up to 30 bond notes. To negotiate further you will need to return. Rates are EXTREMELY high.
Operation Phoenix refers to the rollout of GESARA and the Global Currency Reset.
As of early November 2024, Operation Phoenix is now fully in its execution stage.
Trump’s leadership has empowered elite military units and specialized financial teams to dismantle key corrupt banking nodes in Zurich, London, and Hong Kong.
These forces have begun arresting high-profile bankers and corporate operatives, seizing assets in a historic operation aimed at dismantling the power of financial elites.
With the QFS now active, algorithms are tracking every suspicious transaction and asset movement in real-time, confiscating wealth from those who sought to hoard resources intended for humanity.
This reclaimed wealth is redirected to fund the GESARA rollout, cutting off the elite’s grip on financial power.
Redemption Centers across the nation have received critical upgrades to ensure a secure exchange process. Each center now operates with Quantum Shielding Technology, preventing any external interference or surveillance attempts. Developed in top-secret military labs, this technology ensures that only those approved through the QFS can enter, protecting participants from deepstate actors attempting to disrupt the wealth transfer.
The Evolution of NDAs: Biometric Integration: With enhanced protocols, participants signing Non-Disclosure Agreements (NDAs) must now verify their identities through advanced biometric signatures, including fingerprint and retina scans.
These new security measures link directly to Quantum Access Cards, further securing each participant’s funds and ensuring only genuine participants are permitted within the QFS.
This advanced biometric NDA process was initiated following revelations of Deepstate operatives attempting identity theft to infiltrate the Redemption Centers.
The Quantum Access Cards, essential for accessing funds under GESARA, have seen significant advancements. As of early November 2024, all cards are equipped with Real-Time Surveillance Deterrents (RTSDs), which detect any attempt to access the card outside QFS’s secure environment. If tampered with, the card immediately encrypts all data, remaining locked until receiving a signal from a Quantum Communication Hub.
This added security feature is part of a larger strategy to eliminate reliance on traditional banks, ushering everyone into a new financial framework immune to manipulation.
One of the most pivotal updates in recent weeks is the full integration of Starlink satellites with the QFS, creating a powerful Q-Grid. This global network of Quantum Communication Hubs now spans eight strategic U.S. regions and other key global locations, connecting Redemption Centers and Quantum Access Cards under an unbreakable encryption shield accessible only by the QFS.
Starlink’s role in this system also includes securing Emergency Broadcast System (EBS) communications, ensuring that all GESARA announcements are delivered without obstruction by mainstream media or deepstate interference.
When the time comes for the GESARA announcement, Starlink will activate the Emergency Broadcast System through the Q-Grid, transmitting real-time updates to every participant. This bypasses traditional media outlets, delivering unfiltered truth to the people directly.
Operation Sentinel has launched to protect Redemption Centers and secure the entire wealth transfer process. Tactical units have been stationed to ensure the safety of all participants
Read full post here: https://dinarchronicles.com/2024/11/08/restored-republic-via-a-gcr-update-as-of-november-8-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 On the 10th there's going to be a collision of some very important 'heavy particles' that require the monetary reform exchange rate. On the 10th they're all coming into a collision. I think they're going to give birth to new elements...Maybe lower notes...maybe a float... maybe the digitalization of the electronic float. A lot of things might be happening but not before the 10th of this month...
PompeyPeter Where are we? The have not seen the budget. But we have seen something very interesting that encourages me now to talk about the budget. [a new] article is an absolute doozy as far as I'm concerned because it's telling us quite a lot. It's telling us that Sunday the 10th of November is...Cultural Day when Iraq thinks about its great thinkers, feats of engineering, its natural beauty, its wonders and its historic wealth...this great nation which was the foundation for much in the world. This celebration is on Sunday. They moved it forward from its traditional date of...the 18th. They're saying they moved it because of the census...They moved it. They moved it forward to Sunday.
'Euphoric' Market Rally, Bitcoin To $112k Before 'Financial Reset' | Chris Vermeulen
David Lin: 11-7-2024
Chris Vermeulen, Chief Market Strategist of The Technical Traders evaluates market performance after Donald Trump wins the Presidential election and how markets will perform next.
0:00 - Market reaction to Trump win
6:00 - Market momentum
7:20 - Trump's policies and markets
10:35 - Resistance levels
13:22 - Small caps outlook
15:30 - When to take profits?
21:00 – Gold
MilitiaMan & Crew News Reporting-Iraq Dinar-International Stability-Financial System-IMF-Article 140-Port of Faw
MilitiaMan & Crew News Reporting-Iraq Dinar-International Stability-Financial System-IMF-Article 140-Port of Faw
11-7-2024
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, Brian’s Place, GIGI and Militia Man
Be sure to listen to full video for all the news……..
MilitiaMan & Crew News Reporting-Iraq Dinar-International Stability-Financial System-IMF-Article 140-Port of Faw
11-7-2024
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, Brian’s Place, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Seeds of Wisdom RV and Economic Updates Thursday Evening 11-7-24
Good Evening Dinar Recaps,
BRICS: RUSSIA SAYS IT WON’T DITCH US DOLLAR AFTER TRUMP’S VICTORY
In a shocking twist for the BRICS alliance, Russian President Vladimir Putin has said that they will not ditch the US dollar. In a sit-down interview Thursday, Putin confirmed that Russia is not abandoning the dollar, it is “simply refusing to use the dollar as a settlement tool.”
Putin called the US dollar a “pillar of US power,” saying that the US is undoing this power. The BRICS bloc has long pushed its de-dollarization initiative, saying the greenback won’t be king for long.
The alliance recently discussed de-dollarization at its October Summit, and multiple countries have decided to stop using the dollar.
Good Evening Dinar Recaps,
BRICS: RUSSIA SAYS IT WON’T DITCH US DOLLAR AFTER TRUMP’S VICTORY
In a shocking twist for the BRICS alliance, Russian President Vladimir Putin has said that they will not ditch the US dollar. In a sit-down interview Thursday, Putin confirmed that Russia is not abandoning the dollar, it is “simply refusing to use the dollar as a settlement tool.”
Putin called the US dollar a “pillar of US power,” saying that the US is undoing this power. The BRICS bloc has long pushed its de-dollarization initiative, saying the greenback won’t be king for long.
The alliance recently discussed de-dollarization at its October Summit, and multiple countries have decided to stop using the dollar.
“The payments in dollars are decreasing,” Putin said. “Not too much, as of yet, but as a means of savings, it’s going down step by step. Very gradually it’s shrinking, it is a trend. It’s their own doing.”
In regards to BRICS proposals of ditching the US dollar, the Russian president reaffirmed that “our proposals are not aimed against [the] dollar. This is simply us rising to the challenge of modern times, in response towards the development of the economy we are thinking.”
BRICS Continues Developing Payment System to Rival US Dollar
Putin also discussed how BRICS is currently in the development phase of a unified BRICS payment system rooted in the payment systems of different countries.
The new system will be “using the groundwork of the systems in each country in exchanging of financial information,” the Russian president said.
The bloc has continued to embrace trades in local currencies. Moreover, they have worked to develop their unique payment infrastructures. These projects should only encourage financial autonomy. Moreover, they should be clear threats to Western hegemony and US dollar dominance.
The most interesting point from Putin’s interview is that despite the de-dollarization efforts, Russia has decided not to ban or abandon the greenback: simply avoid it.
Earlier this year, Donald Trump hinted he would consider lifting sanctions, encouraging the use of the dollar. Now that he will be President again, it will be interesting to see how the bloc responds if he does just that.
Putin and China’s President Xi Jinping have already opened the door to speaking to Trump, so perhaps there is a future where BRICS and the US dollar live in harmony.
@ Newshounds News™
Source: Watcher Guru
Read more: Twitter
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DETROIT TO BECOME LARGEST US CITY TO ACCEPT CRYPTO PAYMENTS FOR TAXES
Starting mid-2025, Detroit residents can pay taxes and fees in crypto, with blockchain entrepreneurs invited to enhance civic solutions.
▪️Detroit will begin accepting crypto assets for tax payments from mid-2025, making it the largest US city to do so.
▪️The initiative aims to modernize public services and improve accessibility for unbanked residents.
Detroit will soon allow residents to pay taxes and other city fees with crypto, becoming the largest US city to adopt crypto payments.
City officials announced that this option will be available mid-2025 and managed securely by PayPal. This new payment method aligns with Detroit’s broader strategy to modernize public services, strengthen civic engagement, and drive economic growth.
Detroit Mayor Mike Duggan expressed enthusiasm for the initiative, emphasizing the city’s dedication to creating a tech-friendly environment that supports residents and entrepreneurs alike.
“Detroit is building a tech-friendly environment for residents and entrepreneurs,” said Duggan. “We’re excited to be among the first US cities to explore blockchain applications and offer cryptocurrency as a payment option.”
The city treasurer, Nikhil Patel, highlighted that the new platform would improve accessibility for Detroit residents, especially those who are unbanked or prefer digital payments.
“This platform upgrade will also make it easier for Detroiters to make electronic payments.”
In addition to the new crypto payment option, Detroit is actively encouraging blockchain entrepreneurs to propose projects that enhance transparency, security, and efficiency in public services.
Proposals can be submitted to Justin Onwenu, Detroit’s Director of Entrepreneurship and Economic Opportunity, by December 15, 2024.
Onwenu explained, “Blockchain technologies have the potential to drive greater accessibility, efficiency, transparency, and security, and we’re excited to hear from entrepreneurs at the forefront of this work.”
With this move, Detroit joins a growing number of municipalities adopting crypto payments. Currently, Williston, North Dakota, and Miami Lakes, Florida, accept crypto for specific city services.
However, Detroit will surpass these cities in scope and size, establishing itself as the largest US city to accept crypto.
Cities like Miami and New York have shown strong crypto support, while states such as Colorado, Utah, and Louisiana have already implemented crypto payment options for state taxes.
@ Newshounds News™
Source: Crypto Briefing
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🌱FED CUT? WHY DO I CARE? WHAT DOES IT MEAN? DIVE IN WITH US. | Youtube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
~~~~~~~~~
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The Biggest Red Flag of All When It Comes to Money and Relationships
Ramit Sethi Says This Is The Biggest Red Flag of All When It Comes to Money and Relationships
Mary Green Wed, November 6, 2024 GOBankingRates
Most people look for a romantic partner who shares their financial values and has similar life goals, whether that means living a life of luxury or embracing a minimalist existence. Incompatibility in these areas is often a deal breaker or “red flag.”
Personal finance expert Ramit Sethi says there is an even bigger red flag that people tend to overlook. The number one financial red flag isn’t having different values — it’s being unable to talk about money at all.
“If your partner simply will not talk about money, you have a huge problem,” Sethi explained in an interview on Instagram.
Ramit Sethi Says This Is The Biggest Red Flag of All When It Comes to Money and Relationships
Mary Green Wed, November 6, 2024 GOBankingRates
Most people look for a romantic partner who shares their financial values and has similar life goals, whether that means living a life of luxury or embracing a minimalist existence. Incompatibility in these areas is often a deal breaker or “red flag.”
Personal finance expert Ramit Sethi says there is an even bigger red flag that people tend to overlook. The number one financial red flag isn’t having different values — it’s being unable to talk about money at all.
“If your partner simply will not talk about money, you have a huge problem,” Sethi explained in an interview on Instagram.
Many people get uncomfortable when it’s time to talk about money. Fortunately, there are some tried and true ways to get better at having those important conversations.
Couples Should Talk About Finances Frequently
Sethi stressed that it’s OK to have different values and approaches to dealing with money, but it is essential to talk to your partner about it.
Not only that, but talking about money shouldn’t be a one-time event. Ideally, “we want to have lots of conversations about money,” Sethi said.
If your partner refuses to talk about money, they’re not just avoiding one big conversation. They’re avoiding an ongoing dialogue that should be a regular part of your shared life.
Therapists agree that couples must be able to talk effectively about money, according to Choosing Therapy. Issues like income levels and spending habits may be important, but they’re not as important as the ability to discuss finances. Transparency and openness about money are very important for your relationship.
Talking to Financially ‘Avoidant’ People
TO READ MORE: https://www.yahoo.com/finance/news/ramit-sethi-says-biggest-red-160117330.html
Thursday Evening Chat With MarkZ 11-7-2024
Thursday Evening Chat With MarkZ
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Hello Mark MODS and Everyone
Member: Mark, How is your gut feeling about this upcoming week?
MZ: I was excited last week because I was told things should start ripping 2 days after the election. Well its now 2 days after the election and I cannot reach a single bond contact. I don’t know what this means – but my gut is hoping they are processing bonds. If they are- we will know soon.
Thursday Evening Chat With MarkZ
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Hello Mark MODS and Everyone
Member: Mark, How is your gut feeling about this upcoming week?
MZ: I was excited last week because I was told things should start ripping 2 days after the election. Well its now 2 days after the election and I cannot reach a single bond contact. I don’t know what this means – but my gut is hoping they are processing bonds. If they are- we will know soon.
Member: Mark has always said 3 days after he hears the bonds go we would get our notice for 4B
MZ: “Parliament decides to extend its legislative term for 30 days” they have a lot of important things to take care of. And they are dedicated to getting them done and out the door.
MZ: “Parliamentary oil : Gas licensing rounds will supplement the financial budget” They are talking about 3 million cubic feet a day.
MZ: “ The central bank has an unprecedented record of sales of the dollar” When they sell the dollar – they are pulling dinar off the streets. The auction today was $300 million dollars . This is huge.
MZ: Port of Faw is open…..5 of the berths are open. Open, functioning and operating.
Member: Wasn't there a deadline for December 10th? what should mean it should be wrapping up now
Member Sudani said that the monetary reform would be done by Victory day- Which is Dec. 10.
Member: I sure wish Iraq would just go alone with the RV…….even at a 1 to 1 rate….it would sure help many of us tread water in this terrible economy.
MZ: “The Federal Reserve cuts interest rates for 2nd straight meeting” They just committed to higher inflation.
Member: I heard there will be no RV until 2025
MZ: I have not heard that…None of my sources agree with that. They are going to float all kinds of rumors to cloud the timing.
Member: Unless they won’t release it until after the inauguration on Jan. 20th….which is about 60 days or so.
Member: Veteran's Day is Monday All
Member: I am always very hopeful on 3 day weekends….someday, somebody will be right.
Member: Enjoy your evening and God Bless.
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!
More News, Rumors and Opinions Thursday PM 11-7-2024
TNT:
LouNDebNC: Iran's Currency Craters to Historic Low Following Trump's Victory
Iran’s already ailing national currency cratered after Donald Trump’s election victory, heralding tough times for Tehran’s economy as the former president prepares for another term in the White House.
By Adam Kredo
Iran’s already ailing national currency cratered after Donald Trump’s election victory, heralding tough times for Tehran’s economy as the former president prepares for another term in the White House.
The Iranian rial traded at 703,000 to 1 American dollar early Wednesday
TNT:
LouNDebNC: Iran's Currency Craters to Historic Low Following Trump's Victory
Iran’s already ailing national currency cratered after Donald Trump’s election victory, heralding tough times for Tehran’s economy as the former president prepares for another term in the White House.
By Adam Kredo
Iran’s already ailing national currency cratered after Donald Trump’s election victory, heralding tough times for Tehran’s economy as the former president prepares for another term in the White House.
The Iranian rial traded at 703,000 to 1 American dollar early Wednesday, an all time low, before settling at 696,150 to a single dollar, according to the Associated Press. The steep drop signals fears in Iran that Trump will enter office prepared to level harsh new economic sanctions on the country—and enforce active ones—as punishment for its yearlong war on Israel.
As the Iranian rial tanked, the American stock market surged, with the Dow Jones Industrial Average jumping more than 1,300 points to 45,557 as of mid-day trading. The Nasdaq grew by more than 430 points, hitting 18,875 in the afternoon.
During his first stint as president, Trump decimated Tehran’s economy with sanctions, ushering in a "maximum pressure" campaign that the Biden-Harris administration subsequently dismantled in a bid to entice Iran into a revamped version of the 2015 nuclear accord. Under the administration, Tehran was given access to upwards of $100 billion in cash resources, helping it arm a slew of regional terror proxies that have wreaked havoc on Israel and American military positions in the Middle East.
With Trump’s second term looming over Tehran, the country will have to make tough choices about its war on Israel. Iran has already promised a crushing response to Israel’s first direct attack last month but could decide to hold fire given Trump’s track record of support for the Jewish state. In 2020, Trump greenlit the assassination of Quds Force commander Qassem Soleimani.
Iran said Wednesday that it is not concerned by Trump’s election and saw both candidates as enemies.
"The election of the U.S. president has nothing to do with us. The general policies of the U.S. and Iran are constant," Iran’s foreign ministry said in a statement. "It doesn't matter who becomes the president in the United States because all the necessary planning has been made in advance."
**************
Tishwash: Financial expert: The rise of the dollar is temporary and the economy is what determines its path
Financial expert and former director of the Central Bank of Iraq, Mahmoud Dagher, confirmed on Thursday that the rise of the dollar is temporary, and that the economic aspect is what determines its path, away from politics.
Dagher told Shafaq News Agency, "The dollar in local markets is affected by global markets if it rises, considering that the dollar is the same whether it is in Iraqi markets or global stock exchanges.
But what is important is the local currency being affected by it inside Iraq."
He added, "The change that is currently taking place in the dollar is temporary and will soon return to its normal state after things stabilize," indicating that "the economic aspect is what determines the value of the dollar against other currencies, not the political aspect."
The dollar rose with Donald Trump's victory in the US elections, which affected the decline in global oil prices link
***************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 Salaries need a new exchange rate...The same thing with the HCL. Do you see the HCL? No. Give me a new exchange rate. It's that simple. Do you see the salaries? No, still nothing. Give me a new exchange rate. It's that simple. Do you see the lower notes they keep talking about? No. Give me a new exchange rate...By the way they are giving them a new exchange rate IMO...
Frank26 The fact they are talking to you [Iraqi citizens] that the HCL is coming...means a new exchange rate is coming.
Guru Walkingstick For decades, forever, the corruption in Iraq have stolen the future of the children of Iraq, let alone the Middle East...You'll find them in parliament, you'll also find them in the media - television, newspapers of Iraq...Sudani brought in Alaq with the permission of the board of directors of the CBI. When he did, things started to move forward. That's why a 10 year report has now been put out.
U.S. ‘Debt Tsunami’ Will Force Fed to Negative Rates, Push Gold to $8,000 | Brien Lundin
Kitco News: 11-7-2024
The Federal Reserve's money management will trigger the next crisis and force the U.S. central bank to embrace negative interest rates, warns Brien Lundin, Editor of Gold Newsletter and CEO of New Orleans Investment Conference.
Lundin analyzes what this crisis means for the economy, the Federal Reserve, the U.S. dollar, and gold. Lundin tells Kitco News' anchor Jeremy Szafron that the Fed's recent 25 basis point cut to a target range of 4.5%-4.75% could be just the start of a longer rate-cutting cycle driven by the unsustainable cost of servicing the national debt.
He predicts that gold prices could surge to $8,000 an ounce within this bull market cycle as Western investors seek safe-haven assets amid rising economic risks.
Lundin highlights the return of "bond vigilantes," whose skepticism about U.S. debt management has driven Treasury yields higher. With gold decoupling from its traditional inverse relationship to the dollar and bond yields, Lundin argues that the metal is poised to benefit from a powerful new bull market.
0:00 - Fed Rate Cut Details
0:31 - Powell’s Press Conference
1:47 - Lundin’s Economic Forecast
2:29 - Fed on Inflation & Rate Cuts
3:24 - U.S. Debt Crisis Risks
7:10 - Gold Price Predictions
11:23 - Debt’s Impact on Economy
30:06 - Investment Conference Highlights
38:45 - Closing Thoughts on Markets
Seeds of Wisdom RV and Economic Updates Thursday Afternoon 11-7-24
Good Afternoon Dinar Recaps,
FED CUTS RATES AS BITCOIN CONTINUES ROARING
The Federal Reserve slashed interest rates again on Thursday in a move that could boost Bitcoin—which is already in all-time high territory.
The Federal Reserve on Thursday slashed interest rates in an expected decision that could give "risk-on" assets like Bitcoin a further boost—and the top digital asset is already surging in recent days, setting multiple all-time high price points following Donald Trump's election win.
America's central bank approved a quarter-point interest-rate cut—a move backed by all 12 Fed voters. In September, the Fed cut by 50 basis points in its first such reduction since it aggressively raised rates in 2022.
Good Afternoon Dinar Recaps,
FED CUTS RATES AS BITCOIN CONTINUES ROARING
The Federal Reserve slashed interest rates again on Thursday in a move that could boost Bitcoin—which is already in all-time high territory.
The Federal Reserve on Thursday slashed interest rates in an expected decision that could give "risk-on" assets like Bitcoin a further boost—and the top digital asset is already surging in recent days, setting multiple all-time high price points following Donald Trump's election win.
America's central bank approved a quarter-point interest-rate cut—a move backed by all 12 Fed voters. In September, the Fed cut by 50 basis points in its first such reduction since it aggressively raised rates in 2022.
Bitcoin and other cryptocurrencies have largely benefited from low interest rates because they, like tech stocks, tend to experience more volatile price movements.
But in 2022, the central bank aggressively hiked interest rates in a bid to tame inflation amid the COVID-19 pandemic, making such investments less attractive. Now that inflation is in check, the central bank can make it cheaper to borrow money again.
"The Committee judges that the risks to achieving its employment and inflation goals are roughly in balance," the Fed said in a statement Thursday.
Matt Mena, crypto research strategist at exchange-traded fund (ETF) issuer 21Shares, said in a statement provided to Decrypt that the latest cut could give crypto a further boost.
"The Fed's 25 bps rate cut introduces an economic boost favorable to risk assets like Bitcoin," he said. "Combined with Trump's pro-crypto policies, this creates a supportive macro environment for Bitcoin."
@ Newshounds News™
Source: Decrypt
~~~~~~~~~
RIPPLE CEO SHARES HIS ‘FIRST 100-DAY’ CHECKLIST FOR THE PRESIDENT
Brad Garlinghouse, CEO of Ripple, has outlined what he believes should be part of the President's first 100-day agenda for crypto.
Trump’s victory in the 2024 U.S. election has offered not just a pro-crypto president, but also the most pro-crypto lawmakers in the House and Senate. With crypto in celebratory mood as Bitcoin leads prices higher, the overall sentiment is that this is only the beginning of what’s bullish for the industry.
However, among the top priorities for the sector is the push for regulatory clarity. In his congratulatory message, Ripple CEO Brad Garlinghouse outlined what he sees as a few of the things the president can do in his first 100 days to get the ball rolling.
Fire Gensler
At the top of the list is fulfilling a campaign pledge: firing U.S. Securities and Exchange Commission Chair Gary Gensler on “day one.”
Garlinghouse suggests replacing Gensler with a more crypto-friendly candidate, naming Dan Gallagher (chief legal officer of Robinhood), Christopher Giancarlo (former head of the Commodity Futures Trading Commission), and Brian Brooks (former acting comptroller of the currency) as potential successors.
“They’d be massive upgrades in rebuilding the rule of law (and reputation) at the SEC,” the Ripple CEO posted on X.
In his victory speech following Tuesday’s election, Trump expressed his commitment to uniting the nation and driving change.
On his ‘first 100-day’ checklist Garlinghouse wishes to see the president getting Republicans and Democrats together to “move the digital asset market structure bill forward in the Senate.”
Notably, the U.S. House of Representatives passed the bill in May 2024.
The final item on Garlinghouse’s list pertains to Ethereum. Ripple’s legal battle with the SEC, from December 2020 to July 2023, challenged allegations that XRP was a security, ultimately resulting in a favorable court ruling. While the SEC approved spot Ethereum exchange-traded funds in May, Garlinghouse couldn’t resist a pointed comment aimed at the regulator.
“And last but not least, can we get some clarity…..similar to XRP and BTC, that ETH is not security, right?!” he wrote.
@ Newshounds News™
Source: Crypto News
~~~~~~~~~
🌱 PRESIDENT HARRIS HOW? THE PLAN AND WILL IT HAPPEN? GIPPER'S NEWS | Youtube
Gipper's News Reader: https://t.me/+Thh6fZ5bQJfRxU3f
Read More: https://t.me/c/1310227069/156714
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
~~~~~~~~~
Seeds of Wisdom Team RV Currency Facts Youtube and Rumble
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