Seeds of Wisdom RV and Economic Updates Friday Morning 11-15-24

Good Morning Dinar Recaps,

PRO-BITCOIN MATT GAETZ NOMINATED AS U.S. ATTORNEY GENERAL

Matt Gaetz, a Florida Representatives and American lawyer, has been nominated as Attorney General by President-elect Donald Trump. Gaetz was assigned due to his educational and career experience in law.

President-elect Donald Trump nominated Matt Gaetsz, pro-bitcoin and Florida representative, to be the next U.S. Attorney General. Following this nomination, he resigned from the House of Representative on Nov. 13, 2024.

ccording to the Nov. 13 X post, Trump praised Gaetz as a determined attorney committed to driving much-needed reform at the Department of Justice.

Gaetz expects to prioritize ending weaponized government, strengthening border security, dismantling criminal organizations, and exposing the potential of government corruption and weaponization.

“He is a champion for the constitution and the rule of law. Matt Gaetz will root out the systematic corruption at DOJ, and return the department to its true mission of fighting crime, and upholding our democracy and constitution.”

Elon Musk, recently appointed as head of Department of Government Efficiency (D.O.G.E), replied to his X post, congratulating Gaetz on his new role.

Matt Gaetz stances on crypto
Earlier this year, on June 25 as a member of Congress Gaetz introduced a bill advocating for Bitcoin to be accepted as payment for Americans for federal income tax. The bill was proposed after he visited El Salvador and aimed to modernize the U.S. tax system.

The aggressive move made would “promote innovation, increase efficiency, and offer more flexibility to American citizens.”

The proposal seeks to amend the Internal Revenue Code of 1986 to accept Bitcoin for tax payment and expand this payment option to other federal services.

Gaetz has also advocated for various crypto deregulations and pushed back against the federal agency’s oversight. He is arguing that the measure would stifle innovation and growth.

His appointment as an Attorney General highlights potential approaches to law enforcement and more flexible regulations within the crypto industry under the Trump presidency.

@ Newshounds News™

Source:  Crypto News

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CHINA COULD REASSESS CRYPTO BAN DUE TO TRUMP, HASHKEY CEO CLAIMS

HashKey Group Chairman and CEO Xiao Feng has indicated that China’s stringent stance on cryptocurrencies could soften within the next two years, influenced by the pro-crypto policies expected under US President-elect Donald Trump. Xiao believes that clear regulatory support in the United States could serve as a catalyst for China to reconsider its current ban.

Why China Could Reconsider Its Crypto Ban
“If the US Congress and the new president establish clear crypto policies and actively promote the industry, it would certainly be a driving force for China to accept cryptocurrencies,” Xiao stated in an interview with the South China Morning Post.

Xiao also pointed to geopolitical factors that might accelerate China’s acceptance of digital assets. The exclusion of Russia from the SWIFT financial messaging system by the US and its allies in 2022 has underscored the importance of alternative financial infrastructures.

 This move, part of sanctions related to the conflict in Ukraine, may prompt China to explore crypto more earnestly to safeguard its financial autonomy.

“Without these events, China might have needed five or six years to accept cryptocurrency businesses. Now, due to these factors, that timeframe could be shortened to two years,” Xiao explained.

Over the past several years, China has enforced a strict ban on initial coin offerings (ICOs), crypto trading, mining, and other related activities. Authorities have cited concerns over financial stability and the potential for illicit activities as primary reasons for the crackdown.

 Despite this, Hong Kong has been permitted to develop its digital asset industry, positioning itself as a potential bridge should mainland China relax its regulations.

Should China decide to re-engage with the digital asset market, Xiao suggests that regulated stablecoins could be the initial focus. “Stablecoins are currently the best solution for cross-border business-to-consumer trade,” he noted.

Supporting this view, HashKey conducted a survey in Yiwu, a major manufacturing and trade hub in mainland China. The survey revealed that nearly all merchants had received inquiries from international buyers about making payments using popular US dollar-based stablecoins such as USDT and USDC.

HashKey Group operates HashKey Exchange, one of Hong Kong’s three licensed crypto exchanges. The company plans to launch its own blockchain, the HashKey Chain, next month.

With over 300 employees in Hong Kong and additional teams in Singapore, Tokyo, Dubai, Bermuda, and Europe, HashKey is expanding its global footprint.

While the Chinese government has not indicated any immediate plans to relax its crypto ban, Xiao emphasized the importance of maintaining a strong presence in Hong Kong. “Only by staying in Hong Kong can we serve mainland China when that market opens up. We firmly believe that day will come,” he asserted.

@ Newshounds News™

Source:  Bitcoinist

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@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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News, Rumors and Opinions Friday AM 11-15-2024

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. 15 Nov. 2024

Compiled Fri. 15 Nov. 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Thurs. 14 Nov. 2024 RV Highlights on Telegram: “We are almost there and it is always quiet before the storm. The levels above us will start on Fri. 15 Nov. 2024. There are over 7,000 regional call centers which will set your appointments. Those who do not get notified by email can find the information on the Web. It will be easily available. In Iraq their Victory Day is Dec. 10. We will go before the end of the month.”

Thurs. 14 Nov. 2024 Wolverine: “I am overly excited. It will happen any day, any time. There are no delays. It is a 100% go. In that meeting the excitement was overwhelming.”

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Thurs. 14 Nov. 2024 UPDATE: New List of 209 Countries That are (Allegedly) Connected to The QFS System or are Being Connected – QFS + RTGS Trust The Plan! …Mr. Pool Secrets

BOOOM!! Today, we uncover the intricate web of banks that are now aligning with the QFS system. The QFS, or Quantum Financial System, has been the subject of much speculation, whispers in dimly lit rooms, and late-night conspiracy theory forums. Some say it’s the future, while others claim it’s just another fanciful myth. But what if I told you that 97 of the top 100 central banks are being covertly connected to this system?

The world’s central banks have long been seen as the puppeteers of the global economy, shaping the fate of nations with their decisions. Their influence is undeniable. But what happens when these behemoths of finance join forces with an emergent, arguably enigmatic, technological powerhouse like the QFS?

Hold on to your hats folks, because here comes the bombshell!!! Our inside source, a brave individual deep within military intelligence circles (identity classified for obvious reasons), has dropped a piece of information that might just shake the very foundations of the global economy: 97 of the top 100 central banks are currently under transformation to become fully operational under the QFS + RTGS system. That’s not all, the remaining 82 smaller central banks are gearing up for this transition.

But first, let’s roll back a bit. For those of you who’ve been living under a rock, or perhaps wisely distancing yourself from the maddening world of global finance and its shady undertakings, the QFS + RTGS is the new kid on the block. It stands for Quantum Financial System and Real-Time Gross Settlement. In layman terms, it’s a sophisticated financial network ensuring instantaneous money transfers without the usual delays.

Why is this significant, you ask? Well, imagine the world where money flows without barriers, without time-lapses, without the invisible hands manipulating the scene behind thick velvet curtains. A world where every transaction is transparent (well, to those who know where to look). This is the promise of the QFS.

Thurs. 14 Nov. 2024 BOOOM!! There are a total of 179 central banks listed by the BIS with about 80 more when counting regional monetary authorities among the 209 countries—all these are (allegedly) being connected too. QUANTUM FINANCIAL SYSTEM https://t.me/+cNqgYdnw6QViM2Rh

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PARTI 1. QFS + RTGS! List of Banks that are(allegedly)  Connected to the QFS System or are Being Connected:

Royal Bank of Zimbabwe: $835,000,082,302,000,000 (13 metric tons of in-ground gold estimated to yield $14 billion per annum by RBZ going forward) Central Bank Zimbabwe

Bank of Japan: $5,209,470,000,000 Central Bank Asia

People’s Bank of China: $5,144,760,000,000 Central Bank Asia

Deutsche Bundesbank: $2,014,010,000,000 Central Bank Europe

Bank of France: $1,244,730,000,000 Central Bank Europe

Bank of Italy: $1,135,605,542,549 Central Bank Europe

Swiss National Bank: $886,574,000,000 Central Bank Europe

Bank of Spain: $861,564,000,000 Central Bank Europe

Central Bank of Brazil: $856,248,000,000 Central Bank Latin America

Bank of England: $758,014,000,000 Central Bank Europe

Reserve Bank of India: View Total Assets Central Bank Asia

European Central Bank: View Total Assets Central Bank Europe

Saudi Arabian Monetary Authority: View Total Assets Central Bank Middle East

Central Bank of China: View Total Assets Central Bank Asia

Bank of Korea: View Total Assets Central Bank Asia

Central Bank of the Russian Federation: View Total Assets Central Bank Europe

Netherlands Bank: View Total Assets Central Bank Europe

Monetary Authority of Singapore: View Total Assets Central Bank Asia

Read full post here:  https://dinarchronicles.com/2024/11/15/restored-republic-via-a-gcr-update-as-of-november-15-2024/

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

Mnt Goat  ...my CBI contact told me they almost must reinstate the dinar at about the same time or very shortly after...they end the currency auctions in Iraq...at the end of this year. This is why this move to end the currency auctions is so important to us investors. Remember also that the CBI will be no longer taking dollars from the oil revenues to pay for imports. If this is the case don’t you think the dinar must have some substantial value?

Nader From The Mid East  Community comment: "The dinar is not on Forex."  You're wrong.  Every currency of the world is on Forex.  Some of them are frozen.  Some of them are not.  Some of them are moving.  You can exchange it, you can buy it.  Every money you put on you go on Forex.  You could put any money you want...but some of them are frozen.  You cannot buy...sell them...If you tell me, 'oh, some of them are frozen and not moving.'  I agree with you but the Iraqi dinar start moving.  This is what I'm saying, it start moving now.  You cannot buy and sell but once he moves a lot they're going to have to buy it and sell it.

Gold Signals Demand Destroying Event Imminent | Francis Hunt

Liberty and Finance:  11-14-2024

Elijah K. Johnson hosts Francis Hunt, also known as "The Market Sniper," to discuss the recent pullback in precious metals like gold and silver. Francis highlights several key factors contributing to this sell-off, including a rising U.S. dollar and climbing 10-year Treasury yields, both of which are putting pressure on the metals market.

 He explains that while gold has seen significant gains since earlier in the year, the market is experiencing normal fluctuations, with Bitcoin increasingly drawing attention as a digital alternative to gold. Francis also warns of potential macroeconomic risks, such as a "demand-destroying" event, which could trigger a broader financial collapse, impacting gold and silver prices.

However, he suggests that while Bitcoin is gaining momentum, gold remains a safer bet for those looking for stability in a turbulent market.

INTERVIEW TIMELINE:

0:00 Intro

1:20 Gold & silver pullback

16:33 Demand destroying event

24:00 Gold chart

31:40 The Market Sniper

https://www.youtube.com/watch?v=Omvsm6dXJSg&t=13s

MilitiaMan & Crew News Update-Budget-Non Oil Resources-CBI-USFED-Cross Border Transfers-Oil & Gas-Trade Transfers

MilitiaMan & Crew News Update-Budget-Non Oil Resources-CBI-USFED-Cross Border Transfers-Oil & Gas-Trade Transfers

11-14-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=W4k9JEJS9cs

Seeds of Wisdom RV and Economic Updates Thursday Evening 11-14-24

Good Evening Dinar Recaps,

18 GOP AGS SUE SEC AS GENSLER HINTS RESIGNATION

Donald Trump’s promise of a U.S. SEC without Gary Gensler may be realized ahead of schedule amid state lawsuits and resignation chatter.

Wall Street’s top cop-on-the-beat has been accused of “unconstitutional overreach” and “unfair persecution” of the $3 trillion cryptocurrency industry, according to a lawsuit signed by 18 Republican Attorneys Generals.

The lawsuit alleges that the United States Securities and Exchange Commission and its commissioners, led by chair Gary Gensler, overstepped their jurisdiction and disregarded state economic autonomy.

Litigation from GOP AGs and states has added to the existing scrutiny of Gensler’s SEC career. Top lawmakers have opened an investigation into the SEC’s hiring practices amid suspicions of politically biased recruitment, which has spurred the inquiry.

Several members of Congress have called for his resignation, and Donald Trump has promised the digital asset industry that he would dismiss Gensler.

Is Gary Gensler retiring?
Social media is buzzing with speculation that Gensler might be on his way out as SEC Chairman. His comments in a note on Nov. 14, calling his time at the SEC “a great honor” and praising his colleagues for their dedication, have fueled rumors of a possible imminent retirement.

The SEC is a remarkable agency. The staff and Commission are deeply mission-driven, focused on protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation.

Gary Gensler, SEC chair

He added that it’s been a privilege to serve with the SEC “doing the people’s work and ensuring that our capital markets remain the best in the world.”

A firm stance on crypto regulation has marked Gensler’s tenure at the securities regulator. Blockchain industry players increasingly anticipate changes in leadership and policy enforcement from the SEC after years of grappling with Gensler’s regulatory approach.

The SEC has ongoing court cases against firms like Coinbase and Ripple. As such, Gensler’s potential departure has become a focal point for speculation on how regulatory policies might shift under new leadership.

@ Newshounds News™

Source:  Crypto News

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Senator Lummis Proposes Selling Fed’s Gold To Fund Strategic BTC Reserve: Bloomberg

According to a latest Bloomberg report, Republican Senator Cynthia Lummis of Wyoming has proposed to sell a part of the Federal Reserve’s gold holdings to purchase one million Bitcoins for the creation of a strategic bitcoin reserve. 

The Senator, an ally of Donald Trump, has a plan for filling up the president-elect’s proposed strategic Bitcoin stockpile without adding to the government deficit.

The bill calls for the US to acquire 1 million Bitcoin, representing nearly 5% of the outstanding tokens. Cynthia Lummis estimates this would cost around $90 billion based on current prices, but the sum could rise if the market anticipates the government’s involvement.

“We already have the financial assets in the form of gold certificates to convert to Bitcoin,” Lummis said in an interview with Bloomberg. “So the effect on the US balance sheet is pretty neutral.”

According to Lummis’ bill, the cryptocurrency would be held for a minimum of 20 years, and the presumed appreciation in value would help to reduce the national debt.

Uphill Battles To Be Faced
Despite the industry hopes that this will be the most crypto-friendly Congress ever, some market watchers believe that Lummis’ bill, which currently has no co-sponsors, faces an uphill battle.

“It’s still putting government money on the line, and Bitcoin has not shown itself to be a particularly stable asset,” noted Jennifer J. Schulp, director of financial regulation studies at the Cato Institute’s Center for Monetary and Financial Alternatives.

She further added that “the bill asks senators and members of Congress, who may not understand crypto that well, to make a much bigger leap of faith in terms of its long-term viability.”

Novogratz Doubtful Of US Creating Strategic BTC Reserve
Michael Novogratz, the CEO of Galaxy Digital, believes there is a low likelihood of US setting up a Bitcoin strategic reserve. However, if it does, Novogratz predicted that this would push its price to $500,000 since other nations would feel compelled to create similar stockpiles.

Lummis first unveiled her bill at the Bitcoin 2024 conference after Trump announced his ambition to create a government Bitcoin reserve. After a most anticipated Trump win, the crypto market has surged massively with Bitcoin making newer highs above $93,000.

Lummis is optimistic that her BITCOIN bill, short for Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide, will gain support in the next Congress.

She noted that Trump has already endorsed the idea of a reserve and his closest advisers include people who understand Bitcoin and its role in our future.

@ Newshounds News™

Source:  Coinpedia

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3 Smartest Ways To Cash Out Your High-Value Coins

3 Smartest Ways To Cash Out Your High-Value Coins

Nicholas Morine  Wed, November 13, 2024   GOBankingRates

Whether you’re a seasoned coin collector or just started looking into precious metals and numismatics during the recent resurgence of interest surrounding this investment community, it’s important to know when — and where — to eventually unload some of your prize pieces.

There are options aplenty, ranging from reputable coin shops to travelling coin shows and traditional auction houses. What exactly are the smartest ways to sell your most valuable coins?

Established Coin Shops and Dealers

The tried-and-true method when it comes to selling your most expensive coins, established coin shops in your area can be a convenient — and financially beneficial — place to do business.

“Selling to a local dealer is one of the easiest options; it doesn’t require any shipping, minimum values or extra hassle. You get paid up front for everything, hand it over the counter, and you’re done,” wrote Lianna Spurrier for the American Numismatic Association (ANA) blog.

There is at least one major downside to selling to a coin shop, local or otherwise, according to Spurrier. Allowing that the dealer has to make a profit on your coins after having purchased them, you may not receive close to full retail value for your collection.

With that being said, having cash in hand as soon as you exit the shop is a major point in favor of this option. Those who opt to sell their product to reputable online dealer, such as APMEX, may have to wait slightly longer for payment to clear — largely due to shipping and processing times.

Travelling Coin Shows or Coin Expos

Travelling coin shows or coin expos can be very exciting, both for buyers and sellers. If you’re looking to lighten your collection, however, there are a few things to consider when thinking about selling to a vendor at one of these shows.

One advantage? The capability to comparison shop for the best price is placed right at your fingertips when you attend such a show.

TO READ MORE:  https://www.yahoo.com/finance/news/3-smartest-ways-cash-high-120032382.html

Economist’s “News and Views” 11-14-2024

How A Government Collapses Financially (Deficit Spending)

Lynette Zang:  11-14-2024

Today's video is about about deficit spending will cause the financial collapse of any economy or government and how the U.S is on its way there...

Lynette Zang is an economist that has been involved in the markets at some level since 1964, as a student, banker, stockbroker and precious metals and currency analyst.

 She has been studying currency lifecycles since 1987 and discovered similar social, economic, and financial patterns that occur throughout the stages of a currency’s lifetime.

She believes that recognizing these patterns enables people to see what’s coming and make well-informed choices that put their best interest first.

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

"Expect the Unexpected" Post-Election Market Moves: What It Means for Gold, Silver & Bitcoin

Mile Maloney:  11-14-2024

Dive into this insightful conversation with Mike Maloney and Alan Hibbard as they explore how the latest U.S. election might impact gold, silver, and other major asset classes.

 From short-term reactions to the election, to a broader analysis of the forces driving today’s gold and silver markets, Mike and Alan cover it all.

 Discover why they believe negative real interest rates could keep precious metals on a bullish path, regardless of political changes.

Will the Federal Reserve's policies spark inflation and support gold’s growth? What role might Bitcoin play? Learn how to prepare for the unexpected in this era of economic uncertainty and market unpredictability.

https://www.youtube.com/watch?v=RSEokY2R23g

LIVE! Lions... Something BIG, (GOOD FOR ALL OF US), Is Happening. WATCH THIS ONE Closely.

Greg Mannarino:  11-14-2024

https://www.youtube.com/watch?v=vNDa3MZLEno

Some Iraq News Posted by Clare at KTFA 11-14-2024

 KTFA:

Clare:  Spain confirms cooperation with Iraq to establish Basra-Sharm El-Sheikh railway line

11/14/2024  Baghdad

Spain confirmed, on Thursday, its strong support for Iraq's strong return to the World Trade Organization and its efforts to do so, while indicating that cooperation with Iraq is not limited to railways, but rather in other fields and there are joint projects.

The Director General of International Trade and Investment in the Kingdom of Spain, Elisa Varela, said in a statement reported by the official news agency, and seen by "Al-Eqtisad News", that "there are very good companies in the field of railways, and we are cooperating with Iraq to extend the railway from Basra to Sharm El-Sheikh", noting that "we have a company working on connecting the railway between Najaf and Karbala, and we also have a company working in China that will carry out railway projects in other areas of Iraq in the near future".

She explained that "some of these projects are proposals, and there are signed agreements and cooperation in other areas, including facilitating transportation operations within Iraqi cities and facilitating the traffic situation in a good way so that it runs very smoothly".

She explained that "there are agreements to train Iraqis and sign other agreements that facilitate this aspect", noting that "we strongly support and promote Iraq's return to the World Trade Organization and we seek to do so".   LINK

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Clare:  Kurdistan Minister of Planning: The census that will decide the region’s share of the budget should not be politicized

11/14/2024

The Minister of Planning in the Kurdistan Regional Government, Dara Rashid, stressed on Thursday the necessity of not politicizing the population census scheduled to be conducted in all of Iraq on November 20 and 21, considering that this census will decide the region's share of the budget.

Rashid said in a press conference held today in Erbil, attended by Shafaq News Agency correspondent, that "the population census should not be politicized, and the rights of all other components in Iraq should be preserved," adding, "The decision of the Federal Council of Ministers regarding the census was not in accordance with what we demanded."

He added, "In the shortest time and with the least budget, we completed the necessary preparations to conduct the census," describing the Kurdistan Region's concerns about the census as "constitutional and legal."

Rashid also pointed out that the 1957 census will be the basis for the 2024 census, noting that the 1957 census will preserve the rights of all components.

The Minister called on the people of the region to cooperate in conducting the census, stressing that after the 21st of this month, no one can be registered in the census.

Rashid urged the residents of the areas covered by Article 140 of the Constitution (disputed) to go there and be present during the population census, noting that the Kurdistan Regional Government is providing facilities for the return of the residents of those areas to them during the census.

He went on to say that the population census will determine the region's share of the budget, which was reduced from 17% to nearly 12%, and that the population of the region, which has increased like the rest of Iraq, will become clear, noting that the census will increase Kurdistan's representation in parliament and the rest of the federal institutions and ministries.   LINK

Clare:  The Governor of the Central Bank meets his Turkish counterpart and the directors of some Turkish banks in Istanbul

November 14, 2024

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, and his accompanying delegation met with his counterpart, the Governor of the Central Bank of Turkey, Mr. Fatih Karahan, in Istanbul.

The two parties discussed the launch of new direct mechanisms for trade transfers between Iraq and Turkey, marking the beginning of a new phase in strengthening banking relations between the two neighboring countries.
During the meeting, His Excellency the Governor stressed cooperation in the field of settlements for users of Iraqi cards in Turkey, and urged Turkish banks to open accounts for Iraqi banks to expand financing channels for importing goods and services from neighboring Turkey.

His Excellency added that the Turkish Central Bank supports the steps of the Central Bank of Iraq in organizing financial operations between the two countries in a way that contributes to facilitating trade transactions.

In a separate meeting, His Excellency the Governor Ali Mohsen Al-Alaq and his accompanying delegation met with the general administrations of branches of Turkish banks operating in Iraq, stressing the need to expand fruitful trade options between the two countries, especially in the banking sector.

Central Bank of Iraq
Media Office
November 14, 2024

https://cbi.iq/news/view/2711

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Clare:  Al-Alaq urges Türkiye to open accounts for Iraqi banks

11/14/2024

The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, urged, on Wednesday, Turkish banks to open accounts for Iraqi banks to expand financing channels for importing goods and services between the two countries, stressing cooperation in the field of settlements for users of Iraqi cards in Türkiye.

This came during a meeting between Al-Alaq and the accompanying delegation with his counterpart, the Governor of the Central Bank of Turkey, Fatih Karahan, in Istanbul, according to a statement issued by the Central Bank of Iraq.

The statement said that the two parties discussed the launch of new direct mechanisms for trade transfers between Iraq and Turkey, marking the beginning of a new phase in strengthening banking relations between the two neighboring countries.

The statement quoted Al-Alaq as saying that the Turkish Central Bank supports the steps of the Iraqi Central Bank in regulating financial operations between the two countries in a way that contributes to facilitating commercial transactions.

In a separate meeting, Governor Ali Mohsen Al-Alaq and his accompanying delegation met with the general administrations of the branches of Turkish banks operating in Iraq, stressing the need to expand fruitful trade options between the two countries, especially in the banking sector.  LINK

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 11-14-24

Good Afternoon Dinar Recaps,

MARKET PARTICIPANTS URGE ECB TO EXTEND WHOLESALE DLT TRIALS

For the last six months the European Central Bank (ECB) has been orchestrating wholesale DLT settlement trials using central bank money. More than 70 institutions have taken part, with three different payment options available.

 Today three of the most active participants – Deutsche Börse’s Clearstream, DekaBank and Union Investment – shared their lessons as part of a Frankfurt School Blockchain Center event.

One of the three payment options was the Bundesbank’s Trigger solution, which has its own blockchain that triggers a payment on the Target2 payment system. The Banque de France has its DL3S blockchain that tokenizes central bank cash as a pilot wholesale CBDC.

And the Bank of Italy provided its TIPS Hashlink solution, a lightweight escrow smart contract for the TIPS payment system which requires little infrastructure investment.

All the participants were extremely positive about the trials and keen to see them continue.

The combination of tokenization and central bank money can cut costs, reduce risks and yield efficiencies. Several times they mentioned the potential for a digital capital markets union, as recently discussed by ECB Director Piero Cipollone.

Another consensus was the desire to hear the ECB’s roadmap for next steps before the settlement trials finish at the end of this month.

Calls for the wholesale DLT settlement trials to continue

Clearstream’s Thilo Derenbach and Dekabank’s Michael Cyrus want to avoid losing momentum. Hence, they are both keen to keep the settlement solutions available.

“We would strongly recommend that the ECB does not now close the trial period and wait for many months or possibly years to then proceed with scalable BAU (business as usual) sort of implementation of the payment rails,” said Mr Derenbach.

 “Rather communicate soon to the market how the continued ongoing usage of one, two or three or other payment solutions would be made available. The market is ready.”

Mr Cyrus expressed a similar sentiment, noting that the Bundesbank’s Trigger solution had been around for two years before the trials started. “Now if we have to wait another two or three years, this would be a clear sign that innovation is not coming to the market as quick as we like and I think as quick as the market is ready for,” said Mr Cyrus.

That kind of continuity would allow market players to focus on building out other aspects of the ecosystem, such as secondary markets. He noted that relatively few asset managers were buying the tokenized issuance because of a lack of secondary markets and the need for digital securities to be eligible as collateral for central bank activities. Digital securities should be treated the same as conventional securities.

Ideally he would like to see the Trigger solution remain available. Experimentation with tokenized commercial bank money would also be desirable.

We previously highlighted that German firms dominated the trials which works in favor of the Trigger solution, as opposed to a decision purely on the merits of each option.

Wholesale CBDC in medium term
While all three participants were reluctant to select one solution over others, the Trigger solution came to the fore. Arguably, for a digital capital markets union, broadening the options could be on the cards. We’d note that the Bank of Spain is also developing a solution. Spain’s developer is the technology partner for Fnality, the wholesale tokenized payment solution that is already in production.

All three institutions seemed to envision a wholesale CBDC as the ultimate solution, with the use of existing payment rail integrations such as the Trigger and TIPS Hashlink solutions, seen as more important in the short term.

Union Investment’s Christoph Hock said he’d heard that it would take at least two years for the Banque de France’s wholesale CBDC to go into production.

 “Stablecoins could come into production already in 2025. I think a wholesale CBDC solution by the ECB somewhere in 27/28 potentially wouldn’t be helpful for the market,” he said. 

Hence he suggested a production version of the Trigger solution could be ready in late 2025 or early 2026 and in the meantime work could progress on the wholesale CBDC with the Banque de France.

Mr Hock also observed the important role that the central banks in Switzerland and Singapore have played in making their countries leaders in the tokenization space. 

Switzerland has extended its six month wholesale CBDC pilot for a further two years. He envisions that the Bundesbank in combination with the ECB could launch a world first with a production Trigger solution.

@ Newshounds News™

Source:  Ledger Insights

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RIPPLE VS SEC UPDATE: XRP LAWSUIT TAKES POSITIVE TURN AHEAD OF 2025 TRIAL

▪️XRP News Today: Ripple scores a significant legal victory as a US court rules in favor of Ripple Labs in the ongoing XRP lawsuit, narrowing the scope of class claims.

▪️Ripple Lawsuit Update: Judge Phyllis Hamilton grants Ripple’s motion for final judgment on settled class claims, limiting the case and setting a trial date for January 2025.

▪️The news of Ripple's legal win boosts XRP sentiment, with potential positive effects on XRP price action in the coming months

In the latest development, Ripple has scored a legal victory. In the ongoing In re Ripple Labs Inc. litigation, a US court has ruled in favor of Ripple Labs, XRP II LLC and Brad Garlinghouse.

This is a huge win for Ripple in the long-running case over unregistered securities sales. Judge Phyllis Hamilton granted Ripple’s motion for final judgment on certain class claims, which limits the case and sets up a trial in January 2025.

Key Lawsuit Details
Ripple and the plaintiffs jointly filed a motion seeking final judgment on settled class claims and a pause on remaining claims while appeals are pending. 

Judge Phyllis Hamilton’s order specifically addresses the class action claims related to unregistered securities sales, Ripple’s potential liability as a “control person,” and alleged California securities law violations.

With this ruling, the court has scheduled a trial for January 21, 2025, while pausing previous pretrial deadlines until appeals of the class claims are resolved.

Ripple’s Push for Clarity

Ripple’s request for this final judgment aims to streamline the legal process, clarify remaining claims, and shorten the case’s timeline. The court has also encouraged both sides to consider alternative dispute resolutions, hinting that settlement discussions may be on the horizon in the coming months.

Implications of the Ripple vs SEC Case
The Ripple case has implications for the SEC v. Ripple Labs case where the U.S. SEC is accusing Ripple of violating federal securities laws. Ripple’s win could further enhance the confidence in their stance against the SEC.

Especially after Trump has hinted towards regulatory clarity in the industry, and promised to fire Gary Gensler, the market anxiously awaits an action from the administration. Legal experts and Ripple CTO David Schwartz believe that a dismissal or settlement is possible. Attorney Fred Rispoli had stated that while a settlement appears more realistic, however, a full dismissal might be unlikely.

Gary Gensler To Exit Soon?
While Trump’s inauguration is set for January 20, the pro-XRP attorney James Murphy (MetaLawMan on X) believes Gensler may vacate his post as early as this month. Gensler’s potential resignation and a pro-crypto replacement could fuel a significant market resurgence.

XRP’s price remains closely tied to the regulatory clarity surrounding the token. Attorney Case Darwin agreed with a trader who noted that ‘not owning XRP during this run will be one of the biggest mistakes many will make’. 

He shared that people will not buy it, as the SEC appealed the district court’s decision, in which Ripple won a resounding victory. He emphasized that the BTC hype and its appeal will keep them away. XRP is currently trading at $0.7263, up over 3% in the last 24 hours.

With the stakes higher than ever, Ripple’s victory is more than a win—it’s a turning point for crypto.

@ Newshounds News™

Source:  Coinpedia

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@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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3 Things To Stop Buying That Are a Waste of Money

I’m a Self-Made Millionaire: 3 Things To Stop Buying That Are a Waste of Money

Andrew Lisa   Wed, November 13, 2024  GOBankingRates

Part of the reason so many lottery winners and heirs blow their windfalls shortly after getting rich is that they never learned the skills to manage, guard and grow that kind of money. The other reason is that they never had to sweat, sacrifice and risk the fortunes that fell in their laps.

But self-made millionaires know just how hard it is to build riches worth seven figures — and they’re in no rush to return to where they started. Toiling your way to wealth tends to breed financial discipline, which means passing on things that you might want and can afford. That’s how you turn a small fortune into a large one.

A Millionaire Guards His Wealth After Almost Losing It All

Brian David Crane is the founder and CEO of Spread Great Ideas, a multi-million dollar fund that invests capital “and sweat equity” into digital businesses and e-commerce brands. He’s helped launch four multi-million-dollar companies, including Archives.com, which Ancestry.com acquired for $100 million three years after its launch.

His hard work paid off, and he’s now a self-made millionaire — but you wouldn’t know it by looking at his lifestyle.

“I learned the hard way very early in my entrepreneurship journey that splurging without the correct checks and balances can make one a pauper,” said Crane. “When I sold my first company in my late 20s, I made some foolish investment decisions that brought me close to bankruptcy. I am lucky that I learned fast.”

Here are the things he doesn’t splurge on to ensure he doesn’t repeat his early career mistakes and risk all that he’s worked so hard to build.

Designer Luxury Brands

Movie, music and sports stars are infamous for squandering their fortunes on shiny things and status symbols that social media influencers peddle without mentioning that they’re depreciating assets.

Crane wants nothing to do with any of it. His favorite status symbol is one you can’t wear, drive or fly — a bulging bank account.

“With truckloads of money, you may be enticed to buy the flashiest, trendiest stuff, whether apparel or cars,” he said. “Know and understand the importance of quality and cost. Remember that when you put depreciation costs into effect, the luxury brands can punch a hole in your pocket, which you could have used to buy quality apparel from a cheaper store. Extravagance may look good to the eyes, but you can do better by putting the same money into more appropriate investments.”

Mansions

TO READ MORE:  https://www.yahoo.com/finance/news/m-self-made-millionaire-3-130010968.html

More News, Rumors and Opinions Thursday PM 11-14-2024

TNT:

Tishwash:  Will Iraq be the savior of the countries of the region if oil prices fall?

Economic expert Safwan Qusay spoke about Iraq’s ability to confront the decline in global oil prices, pointing out that leaving the single economy and focusing on non-oil imports has become a necessity to restore the Iraqi economy. 

Qusay said, "If oil prices rise by a hundred dollars, it is possible that the quantities that were voluntarily reduced by OPEC will be re-pumped, noting that "there are no less than two million two hundred thousand barrels that have been voluntarily reduced." 

He added, "It is not in the interest of oil producers to raise oil prices above $100 because that will support investments in shale oil, indicating that the producing countries are trying to control the price between $70 and $100." 

Qusay pointed out that "Iraq will be the greatest savior for the countries of the region because it has dollar reserves and has a strategic reserve in terms of oil production," indicating that "if the government succeeds in containing the conflict and not being dragged directly into the region's unrest, the Iraqi economy will be pulled from the war zone to the development zone."

Qusay explained that "Iraq is able to confront the decline in oil prices, knowing that there is no decline in prices below seventy dollars because OPEC is the one that determines the quantities of production and is determined to remain within the region of 70-100 dollars per barrel." 

He added, "The surplus that accumulated during the previous period of this year, in which Iraq sold at no less than $80 per barrel, enables Iraq to confront price changes."

He pointed out that "Iraq has begun to diversify its economy by investing in oil derivatives and stopping the burning of associated gas, in addition to stopping the import of materials that could be included in the ration card, noting that "the government has opportunities in the matter of sustainable financing through the reserves of the Central Bank or through the sale of oil shares if revenues fail to reach their goals."  link

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Tishwash:  Sudanese advisor indicates an increase in the Central Bank's foreign exchange reserves

The Prime Minister's Financial Policy Advisor, Mazhar Mohammed Salih, confirmed today, Wednesday, the increase in the accumulation of foreign reserves of the Central Bank of Iraq.

Saleh said in an interview with Al-Maalouma Agency, “There is a direct correlation between the current account surplus of the Iraqi balance of payments and the development of the foreign reserves of the Central Bank of Iraq.”

He explained that "as long as there is a surplus in the current account of the balance of payments that has been achieved during the current year, which is positively indicated by the accumulation of the foreign reserves of the Central Bank of Iraq during 2021, with a change rate towards an increase of more than 20% compared to the levels of 2020.”

He pointed out that "foreign currency coverage of the Iraqi dinar has increased and is approaching matching its coverage of the basic currency."

He added that "the monetary policy of the Central Bank of Iraq enjoys the availability of a strong foreign reserve tool that can maintain the purchasing power of the Iraqi dinar and confront inflationary expectations with high and comfortable capacity through the power of intervention in imposing stability in the exchange market through open market operations practiced by the monetary authority to achieve the operational goals of monetary policy with ease and flexibility.”   link

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

Frank26  ...When you look at the monetary reform education right now, with all this information occurring right now, then one can logically say it has already started.  The moment they show those pictures [of the lower notes] it's all over with and I strongly believe they're going to show them this year.  To me November, December and January and February, it's all the same year.  It's the process.

Bruce   [via WiserNow]  ...we got one piece of Intel, one piece but it might be all we need...And Here's how it went, we did speak to someone who is at a redemption center. This person said that they were told that they were waiting for the US, the new US Treasury, to make an announcement ...an announcement from the new US Treasury and the email from Wells Fargo, both of those to happen within next three days...Wednesday, Thursday and Friday... it could happen anytime those three days, or it might take all the way to Friday... let's...see where we stand at that point   

BRICS: De-Dollarization Is Unstoppable

Geopolitical Analyst:  11-13-2024

Whether you like it or not, the de-dollarization agenda kick-started by the BRICS alliance is here to stay. There is no denying that the US dollar reigns supreme despite multiple global challenges, but how long can it fend off its adversaries?

In the early 20th century, the United Kingdom had its colonies all across the world and ran a famous phrase ‘the sun never sets on the British empire’. Its territories were so large, that you were considered crazy if you would think it would all end someday.

In no surprise, the sun did set on the British empire just 45 years after the phrase came into existence.

 The UK is now a country struggling with finances and its colony India, which is a BRICS member has surpassed it through a robust GDP. The turn of events could be brutal as time passes by and those who think that the US dollar will remain supreme forever need a reality check of the British empire.

 De-Dollarization is Difficult and Takes Time, But Won’t Stop for sure. The BRICS bloc confirmed that the de-dollarization agenda is a long-term goal and will fight could go on for decades.

The more the fight prolongs, the higher the chances are of bringing the US dollar down from the reserve currency status.

How the endless wars brought down the British empire, a similar fate could hit the US dollar. The New Development Bank, commonly called the BRICS bank made it public that de-dollarization is not a short-term goal. “The development of anything alternative is more a medium to long-term ambition,” said Leslie Maasdorp, VP of New Development Bank to Fortune.

The White House needs to take the challenge seriously and not brush off the de-dollarization agenda kick-started by BRICS. If the US remains prepared to take on the challenges, emerging economies will find it difficult to pull through. Knowing the steps the enemy takes can help America fight off the challenges provoked by the bloc.

https://www.youtube.com/watch?v=8usW0SMi1GM

Could Trump End the Federal Reserve System?

Could Trump End the Federal Reserve System?

Palisades Gold Radio:  11-13-2024

In a recently aired episode of Palisades Gold Radio, host Tom Bodrovics welcomed back Christopher Aaron, a well-respected figure in the world of precious metals and founder of iGold Advisor. With the dust settling post-U.S. election and the Federal Reserve’s recent meeting, Aaron’s insights into the market sentiment surrounding gold provide both clarity and caution for investors looking to navigate this complex environment.

The episode delves into the immediate responses from investors regarding gold, as various factors—including election outcomes and Federal Reserve policies—begin to shape market perception. Aaron emphasizes the importance of understanding market cycles and where gold currently stands.

Amidst the uncertainty, Aaron advises against abandoning precious metals entirely. Unforeseen circumstances can arise, making gold a valuable hedge against volatility. As market conditions evolve, the historical resilience of gold has shown that it often serves as a safe haven during turbulent times.

Bodrovics and Aaron explore the notable influences of the recently concluded U.S. election and the ongoing Fed meetings. They dissect how the political climate—particularly involving the potential implications of a Trump presidency—affects market dynamics. Importantly, discussions also touch on the Dow to Gold ratio, highlighting how this relationship can indicate broader market trends.

The gold to silver ratio is another focal point of Aaron’s analysis. By examining the trends in this ratio, he provides insights into the potential implications for investors. Historically, silver’s performance can closely relate to industrial demand and economic conditions, which can diverge significantly from gold’s typically more stable value.

The discussion also highlights the potential for significant changes within the government and their relationship with the Federal Reserve. Aaron notes Ron Paul’s long-time advocacy for ending the Federal Reserve System, positing that his presence in a potential Trump administration could signal a deliberate pivot in monetary policy.

The expected timeline for tax cuts and regulatory changes, as discussed in the episode, should prompt investors to consider wider implications as the new administration settles into office.

As the episode winds down, both Bodrovics and Aaron stress the importance of maintaining a holistic view of investments. While precious metals remain crucial, diversifying across various markets can mitigate risk and capitalize on emerging opportunities.

The insights from Christopher Aaron on Palisades Gold Radio serve as a valuable reminder for investors: navigating the current financial landscape requires both acute awareness and flexibility. As election outcomes ripple through the economy and the Federal Reserve makes pivotal decisions, one thing is certain—being informed and prepared is paramount.

 In the world of precious metals and beyond, understanding market cycles and broader economic themes will empower investors to make wise and timely decisions in an ever-changing environment.

https://youtu.be/gOz6mPCpMlk

https://dinarchronicles.com/2024/11/13/palisades-gold-radio-could-trump-end-the-federal-reserve-system/