How Much Money Can I Give Without Worrying About Taxes?

How Much Money Can I Give Without Worrying About Taxes?

Eric Reed   SmartAsset  Sun, December 1, 2024

How Much Money Can I Give My Daughter and Her Husband Without Worrying About Taxes?

Perhaps your daughter recently got married and you want to help her and her husband start their new life. Or maybe they suddenly find themselves in need of financial assistance and turn to you for help.

Fortunately, the IRS allows you to give away a certain amount of assets – from real estate and stocks to cold hard cash – free of taxes every year. In 2024, you can give away up to $18,000 per individual and not have to pay taxes on the transfer. In fact, you’ll only trigger taxes in 2024 if you’ve given away more than $13.61 million throughout your life beyond that annual exclusion. In 2025, those limits are set to change.

Understanding the ins and outs of strategic gifting can be important, especially for the wealthy. Speak with a financial advisor today.

What Is The Gift Tax?

A gift is any unilateral transfer of money or property. This means that you give someone assets without receiving either fair value or any value in return. The term “fair value” applies to when you give someone an asset in exchange for payment significantly below its market price. It applies to any kind of transaction so, for example, giving someone real estate, a low-interest loan or access to an income stream would all apply. The classic gift is to simply give someone cash while receiving nothing in return.

There are several exceptions to what the IRS considers a taxable gift. For example, money given to a claimed dependent does not constitute a gift, nor does paying someone’s tuition. However, outside defined exceptions, any unilateral or below-market transfer is considered a gift.

When you make someone a large enough gift, it becomes taxable. The IRS taxes applicable gifts at between 18% and 40% depending on the size of the transfer. You, as the gift giver, pay this tax. Due to the gift tax’s exemptions, it also generally applies only to the very wealthy. But if you need additional help navigating and planning for the gift tax, consider working with a financial advisor.

Gift Tax Exemption

Broadly speaking, the purpose of the gift tax is to prevent people from avoiding estate taxes by simply giving away all their money before they die. As a result, the gift tax only applies to transfers that exceed two fairly high caps.

The first cap is called the annual exclusion. This is the amount of money that you can give away every year without triggering the tax. The annual exclusion is set on a per-recipient basis, meaning that it applies separately to each person to whom you give a gift, and there is no limit to the number of people you can give gifts to under this exemption. In 2024, the annual exclusion limit was $18,000 for individuals and $36,000 for married couples. In 2025, it increases to $19,000 and $38,000, respectively.

The second cap is called the lifetime exemption. This is the amount of money that you can give away throughout your lifetime – and after your death – without triggering either gift or estate taxes. The lifetime exemption is set on a per-donor basis, meaning that all of your gifts/estate collectively apply.

TO READ MORE:  https://finance.yahoo.com/news/want-money-daughter-son-law-122000156.html

Seeds of Wisdom RV and Economic Updates Monday Evening 12-02-24

Good Evening Dinar Recaps,

BASEL FIGURES: AMERICAN BANKS ENABLED $201 BILLION IN CLIENT CRYPTO EXPOSURES IN 2023

This week the Basel Committee on Banking Supervision published Basel III monitoring statistics for December 2023, including crypto-asset exposures. Given this was before the launch of US Bitcoin ETFs, the data is a little stale. 

However, they already show significant growth in American banks providing crypto services to clients. The statistics repeat the patterns of the previous period.

In particular, the Americas are almost entirely absent from the crypto custody space, largely because of the SEC’s SAB 121 accounting rule, which makes it prohibitive for banks to provide custody. That’s already relaxing and will likely be dropped altogether by the incoming Trump administration. 

n the second half of 2023, assets under custody in Europe grew by 49% to €5.5 billion ($5.8bn) compared to the first half. At a global level, 94% of custody was for spot crypto rather than tokenized assets or ETPs.

When it comes to enabling client exposures, the roles are completely reversed. The Americas dominate providing 98% of services. The figures are on a different scale, with American banks enabling €190 billion ($201 billion) of client exposures.

American banks also substantially increased their own exposures – by almost four times, albeit from a small base. 2023 year end prudential exposures amounted to €531 million.

While APAC is viewed as a promising growth sector, by the end of 2023 it still lagged far behind. However, the figures depend on which banks are included in the dataset.

Of the four banks reporting in the ‘rest of world’ category, none reported any client crypto exposures. The banks’ own exposures were down 20% to a negligible €261 million with custody at €836 million. A lot of legislative changes have happened this year, so next year’s figures could be more interesting.

The statistics cover a total of 31 banks globally.

@ Newshounds News™

Source:  Ledger Insights

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RIPPLE NEWS : WISDOMTREE SUBMITS XRP ETF S-1 APPLICATION WITH THE US SEC

▪️WisdomTree Files for XRP ETF: WisdomTree Digital submits S-1 filing for an XRP ETF, marking growing institutional interest in Ripple's cryptocurrency.

▪️XRP Demand Surge: XRP's market value rises as institutional investors, including 21Shares and Bitwise, file for XRP ETFs amid U.S. regulatory clarity.

Last week, WisdomTree Digital Commodity Services, LLC, a subsidiary of a prominent New York-based asset management firm with over $113 billion in AUM, filed for an XRP exchange-traded fund (ETF) with Delaware authorities. Earlier today, the investment firm submitted to the Securities and Exchange Commission (SEC) the S-1 filing for the WisdomTree XRP Fund.

According to the SEC filings, the WisdomTree XRP Fund will tap into the Bank of New York Mellon (BNYM) as the trustee, fund accountant, and transfer agent.

However, the prospectus for the WisdomTree XRP Fund did not reveal the ticker that will be listed on the Cboe BZX Exchange, thus indicating several updates of the filings will take place in the near term.

Growing Interest in XRP Among Institutional Investors
As Coinpedia previously reported, the demand for XRP among institutional investors has significantly grown following the anticipated crypto policy implementation in the United States. 

In addition to WisdomTree, several other fund managers have filed to offer a spot XRP ETF to prospective investors to help diversify their crypto portfolios.

For instance, asset management firm 21Shares recently fueled for a spot XRP ETF. Additionally, Bitwise, Grayscale Investments, and Canary Capital have all filed for a similar product.

As a result, it is evident that the demand for XRP among institutional investors is exponentially growing amid regulatory clarity in the United States.

Market Impact
The direct impact of the high demand for XRP among institutional investors is visible on the rising market value. The large-cap altcoin, with a fully diluted valuation of about $240 billion, overtook Solana (SOL) and Binance (BNB) to become the third largest crypto asset, excluding stablecoins.

After more than six years of consolidation, XRP price is well positioned to enter its discovery phase of the macro bull cycle in the coming months.

@ Newshounds News™

Source:  CoinPedia

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THE EASY WAY TO GROW YOUR WEALTH WITH XRP IN JUST 30 DAYS  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Thank you Dinar Recaps

Today is Giving Tuesday, Celebrated in 90 Countries!

Today is Giving Tuesday, Celebrated in 90 Countries!

The Dinar Recaps Team believes in giving back to the helpers who make our world a better place, one community at a time. Nonprofit (NPO) and Nongovernmental (NGO) organizations work on the front lines every day, to make a difference for those in need, to celebrate arts, culture, healthy living, and education for all, among many other causes.

This year, Dinar Recaps has chosen Rise and Share (an IRS-recognized 501(c)(3) charity) as our 2024 Giving Tuesday charity of choice!

As a charitable organization that serves other nonprofits, all donations to Rise and Share will support their expansion campaign to serve 100 additional nonprofits by the end of 2025. A gift to Rise and Share is a great choice for our readers who care about multiple causes, from animal welfare to youth service, from chronic illness to the arts, from the military to programs for the aging and in underserved communities.

To maximize a matching gift offer from an anonymous donor, we humbly invite our Dinar Recaps family to join us in supporting Rise and Share this Giving Tuesday. Any donation, no matter how small or large, is invaluable and very much appreciated. And to keep you updated on cause-related news, look for #GivingEveryTuesday posts throughout the new year. Donations may be made at this link: CLICK HERE (or use this QR code on your phone.)

While we wait... let’s think about other ways each of us can help in our local communities, volunteering or donating goods and funds, sharing our talents and championing the causes we care about.

What is Giving Tuesday?

GivingTuesday is a global generosity movement that unleashes the power of radical generosity around the world.

GivingTuesday was created in 2012 as a simple idea: a day that encourages people to do good. Over the past nine years, this idea has grown into a global movement that inspires hundreds of millions of people to give, collaborate, and celebrate generosity.

GivingTuesday strives to build a world in which the catalytic power of generosity is at the heart of the society we build together, unlocking dignity, opportunity, and equity around the globe.

GivingTuesday’s global network collaborates year-round to inspire generosity around the world, with a common mission to build a world where generosity is part of everyday life.

What is radical generosity?

While many call on philanthropists, policymakers and grantmakers to repair broken systems, GivingTuesday recognizes that we each can drive an enormous amount of positive change by rooting our everyday actions, decisions and behavior in radical generosity—the concept that the suffering of others should be as intolerable to us as our own suffering. Radical generosity invites people in to give what they can to create systemic change.

When is Giving Tuesday?

Every day, although the annual celebration event will take place this year on December 3, 2024!

Who organizes GivingTuesday?

GivingTuesday is an independent nonprofit organization that is dedicated to unleashing the power of people and organizations to transform their communities and the world. The movement is organized in partnership with GivingTuesday’s global network of leaders, partners, communities and generous individuals.

Giving Tuesday’s ultimate goal is to create a more just and generous world, one where generosity is at the heart of the society we build together, unlocking dignity, opportunity, and equity around the globe.

What is a GivingTuesday COUNTRY movement?

GivingTuesday is hosted in 90 countries by leaders who are passionate about growing radical generosity. They rally nonprofits, businesses, and individuals throughout their countries. To get involved in GivingTuesday in your country, CLICK HERE https://www.givingtuesday.org/global/.

What is a GivingTuesday COMMUNITY movement?

GivingTuesday Communities come together around a common geography (e.g., city, state, region) or issue area (e.g., Military, Women/Girls) to collaborate, innovate, transform, and inspire their communities to make a difference. These Community campaigns find creative ways to mobilize their networks, host volunteer events, raise funds for their local nonprofits, spark waves of kindness, and much more. CLICK HERE to find and connect with a local GivingTuesday community group where you live.

Who can participate?

Everyone! GivingTuesday has been built by a broad coalition of partners, including individuals, families, nonprofits, schools, religious organizations, small businesses and corporations. There are people and organizations participating in GivingTuesday in every country in the world.

Participating in GivingTuesday is about joining a movement for generosity, and there are so many ways to do that. Whether you give your voice, goods, your time, or your money, being generous is a way to fight for the causes you care about and help people in need.

What do you do on GivingTuesday?

On GivingTuesday, millions of people all around the world, use their power of radical generosity to change the world. They volunteer at homeless shelters, organize food drives, fill their community fridges, donate to mutual aid funds, spread messages of solidarity and hope.

Here are some ideas you might consider:

·      Give your voice to a cause that matters to you - sign and share a petition, send an email to your elected officials

·      Volunteer virtually or share your talents

·      Give your voice to a cause that matters to you

·      Discover a local fundraiser, community drive or coordinated event to join others in your area or with your same interests in giving back — they need your help.

·      Give to your favorite cause or a fundraiser to help those in need.

·      Talk about giving and generosity using the hashtag #GivingTuesday - share local organizations doing good on your social media pages

So, how will YOU spread radical generosity in your community? Tell us in the comments below!

Share this post with your contacts to spread the word about GivingTuesday!!

A Few More Tidbits From TNT Monday Night 12-2-2024

TNT:

Tishwash:  TikTok under scrutiny.. Central Bank suspends financial transactions with its agents in Iraq

 The Central Bank announced, today, Sunday (December 1, 2024), the suspension of financial transactions with TikTok agents in Iraq.

The Central Bank stated in a document received by "Baghdad Today" that "it was decided to stop incoming and outgoing financial transactions for TikTok agents inside Iraq.  link

Tishwash:  Parliamentary Finance Committee sets a “national path” to end oil disputes between Baghdad and Erbil

The head of the Parliamentary Finance Committee, Atwan Al-Atwani, announced on Sunday the determination of a "national path" to resolve the oil disputes between Baghdad and Erbil, noting that the committee is preparing a report on amending one of the articles in the General Budget Law.

A statement by the committee received by Shafaq News Agency stated that Al-Atwani chaired an expanded meeting with the senior staff of the Ministry of Oil, in the presence of the committee members and a number of members of the Oil, Gas and Natural Resources Committee. The meeting discussed the files of managing the country's oil wealth and the future of oil prices, as the country's budget is formed by 90% of these revenues.

According to the statement, the meeting discussed developments in resolving outstanding issues with the Kurdistan Region regarding resolving disputes over calculating production costs and adapting foreign companies’ contracts to the Iraqi constitution, with the aim of resuming exports via the Turkish Ceyhan pipeline.

Al-Atwani pointed out that his committee is in the process of preparing its report on amending Article 12 of the General Budget Law, and submitting it to the House of Representatives for the second reading.

He stressed that the Finance Committee held a series of continuous meetings with officials in the federal government and the regional government, and "defined a national path to find a radical solution to this problem on a constitutional and legal basis and in a way that achieves justice in the distribution of wealth among Iraqis."

Al-Atwani stressed the need to set a timetable for implementing the provisions of the oil agreement between the center and the region, in accordance with what was stipulated in the draft law amending the Federal General Budget Law, which the Council of Ministers voted on and sent to Parliament.

In turn, the Undersecretary of the Ministry of Oil for Extraction Affairs, Basem Muhammad Khadir, reviewed the mechanisms for calculating the cost of oil production and transportation, and the most prominent understandings reached with the region in this regard.

The Undersecretary of the Ministry of Oil stressed the necessity for the Federal Ministry of Oil to be responsible for the reservoir management of the region’s oil fields, noting that his ministry has fixed standards for calculating the cost of producing a barrel of oil, whether at the level of fields managed by national effort or those managed by foreign companies. link

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Tishwash:  Association of Banks: 75% of the money supply is outside the banking system

The Private Banks Association said on Sunday, December 1, 2024, that three-quarters of the monetary mass in Iraq is outside the banking system.

The Executive Director of the Private Banks Association, Ali Tariq, said in a statement followed by "Ultra Iraq", "About 75 percent of the monetary mass is outside the banking system and requires a great effort to encourage citizens, companies and institutions to use the banking system more, which is currently happening, but this type of work needs to be accelerated to control financial operations in Iraq."

Despite what the director said in this regard, the World Bank claimed last February that the infrastructure for electronic payment systems in Iraq is “among the best in the region,” according to a statement issued by  the Central Bank of Iraq . 

“During the last two years, deposits in the banking sector have increased, but there is still a large amount of cash outside the banking system. This requires increasing confidence in the banking sector, whether governmental or private, and strengthening this confidence through the Central Bank of Iraq and the Iraqi government, in addition to offering investment programs for deposits that reflect on citizens’ deposits, which could generate returns for depositors in these banks, and thus there is an incentive and motivation to increase these deposits,” Tariq added.

The Iraqi authorities have taken steps towards activating the  electronic payment system , starting with localizing employees’ salaries, and then installing  electronic payment devices  in different places, including gas stations. However, many experts and specialists still believe that the culture of electronic payment is not at the required level, for many reasons, including those related to economic and electronic culture, in addition to the fact that  the widespread corruption  in the country hinders its full implementation. 

According to experts  , the Iraqi government, through attempts to implement electronic payment, aims to withdraw the cash mass in circulation in Iraq, which amounts to 84 trillion dinars. link

Mot: Here is photographic evidence that Rudolph was not allowed to play in any reindeer games.

Mot: . ole "'Earl"" is mighty Handy He is!! 

Central Bank Of Iraq Is Pleased To Present The Iraqi Banknotes In Circulation

 Central Bank Of Iraq Is Pleased To Present The Iraqi Banknotes In Circulation
 
This technical leaflet highlights the security features and aims to be a guide to the public as well as to companies and commercial banks handling cash on a daily basis. In addition to the enhanced security features, the banknotes include raised printings to facilitate tactile recognition of the denominations by visually impaired users.

We encourage you to take your time to familiarize yourself with our banknotes and share the information with those around you. The current series of banknotes will be in circulation alongside the old banknotes, and there is no intention to withdraw the older banknotes from circulation.

CLICK HERE for the CBI PDF

 https://cbi.iq/static/uploads/up/file-173304177261220.pdf
 
https://cbi.iq/news/view/2724 

Seeds of Wisdom RV and Economic Updates Monday Afternoon 12-02-24

Good Afternoon Dinar Recaps,

BRAZIL PROPOSES TO BAN STABLECOIN WITHDRAWALS TO SELF-CUSTODIAL WALLETS

A public consultation notice from the Central Bank of Brazil intends to prohibit stablecoin withdrawals to self-custody wallets.

The Central Bank of Brazil (BCB) has unveiled a regulatory proposal prohibiting centralized exchanges from allowing users to withdraw stablecoins to self-custodial wallets.

According to the public consultation notice, the transfer of stablecoins — called “tokens denominated in foreign currencies” — between residents would be restricted in cases where Brazilian law already allows payments in foreign currencies.

The BCB shared in a statement:

“The initiative reflects our commitment to adapting the financial system to the realities of digital assets while safeguarding the integrity of international capital flows.”

The move is part of the crypto regulation bill approved in Brazil in December 2022, which determined that the BCB is responsible for creating the rules for the crypto industry in the country.

The public consultation will be open until Feb. 28, 2025, and market participants can share their opinions with the regulator. However, the BCB can override the inputs and do as described in the document.

Balancing regulations
According to the Brazilian central bank, the proposed rules aim to enhance legal certainty for businesses and individuals while fostering competition and efficiency in the foreign exchange market.  

The proposed regulation outlines three core activities for virtual asset services providers operating in the foreign exchange market: facilitating international payments and transfers via crypto, providing exchange or custody services for tokens denominated in Brazilian reais for non-residents, and managing transactions involving tokens pegged to foreign currencies.  

In addition, crypto investments, whether inbound or outbound, would be subject to the same regulatory standards as traditional investments. External credit, direct foreign investment, and Brazilian capital abroad involving crypto would require compliance with existing international capital regulations.

Under the public consultation, centralized exchanges must also get a foreign exchange license to offer stablecoin-related services.

A significant market
According to data from Brazil’s Internal Revenue Service (RFB) published on Nov. 13, nearly 4.4 million Brazilians transferred $4.2 billion in crypto in September.

Stablecoins represented 71.4% of all the value transferred during the month, with roughly $3 billion transacted. Tether USD (USDT) dominated with $2.77 billion moved by Brazilian crypto investors.

@ Newshounds News™

Source:  CoinTelegraph

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COINBASE ANNOUNCES APPLE PAY FOR FIAT-TO-CRYPTO PURCHASES

“Coinbase Onramp takes the hassle out of fiat-to-crypto conversions with lightweight KYC for eligible purchases, free USDC on and offramping, and access to the most popular payment methods,” Coinbase said in a statement. 

Apple Pay will allow users to get onchain in seconds granting quick access to some of the world’s leading cryptocurrencies. Users can access Moonshot, an app using Onramp to get Onchain quickly.

For eligible purchases, Coinbase provides lightweight KYC to make the process of getting Onchain even simpler while still protected. The addition of Apple Pay also allows users to access free USDC on and offramping on Coinbase.

According to Coinbase, if you’re an existing app using Coinbase Onramp, there’s nothing you need to do. Users will automatically see Apple Pay appear as an option when making an eligible purchase. Eligible users can sign up for Onramp quickstart to get started and access Apple Pay as an option on Coinbase. Users can also use one-click-buy for an even faster experience.

Coinbase investors gained confidence in the company following the announcement, with COIN stock climbing 3% Monday.

@ Newshounds News™

Source:  Watcher Guru

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XRP BECOMES THE TOP TRADED TOKEN ON BINANCE AND COINBASE, HITS ALMOST 7-YEAR HIGH

XRP, which saw its fourth ETF filing Monday, also now has the third-largest market cap among all cryptocurrencies, after it shot past Tether’s USDT and Solana’s SOL.

XRP has been the most popular token by trading volume in the last 24 hours on several centralized exchanges, such as Binance and Coinbase

XRP’s virality on centralized exchanges comes as the token climbed on Monday to a nearly seven-year high of $2.77, a 40% jump in the last 24 hours and a 433% increase over the past 30 days. 

The token native to the Ripple ledger currently has a market cap of about $158 billion, surpassing both Tether’s USDT and Solana’s SOL, making XRP the third largest cryptocurrency by market cap.

On Binance, the dominant non-U.S. centralized exchange, XRP’s 24-hour volume of $7 billion makes up 13.3% of total trading activity. For the U.S.’s biggest exchange, Coinbase, XRP has a 24-hour volume of $3 billion, comprising almost 30% of the total volume.

XRP tops trading volume on OKX, Kraken, and KuCoin as well, market data from CoinGecko shows. XRP trading on Upbit, a prominent centralized exchange in South Korea, makes up 38.6% of the entire venue’s 24-hour trading volume of $19.8 billion.

Wall Street titans are also preparing to launch spot XRP exchange-traded funds as ETF provider WisdomTree submitted a Monday filing for a spot XRP ETF with the U.S. Securities and Exchange Commission, joining Bitwise, Canary Capital, and 21shares.

Small Retail FOMO
“The 6-year (nearly 7-year) high comes as wallets with 1M-10M XRP have accumulated 679.1M tokens (currently worth $1.66B) in just 3 weeks,” the team behind market intelligence platform Santiment wrote on X early Monday. At current prices, one million XRP tokens are worth almost $2.8 million.

 Maksim Tkachuk, who works on product at Santiment, further told Unchained over Telegram that the team is observing high levels of FOMO, short for “fear of missing out,” from small retail holders, defined as addresses with 100 to 10,000 XRP tokens.

“Overall when those retail darlings take the spotlight, the whole market becomes dangerous as the main drivers of the price at this point are greed and FOMO,” Tkachuk wrote. 

“Per [Santiment’s] internal agreement – the top is near… at least a very sizeable correction is what we agree on like 20-25 percent in majors.”

Stablecoin, RWA and DeFi Plans
Meanwhile, Ripple is gearing up to roll out a new USD stablecoin on its blockchain, as the New York Department of Financial Services is expected to approve the product, according to Fox Business last week.

Sally Zhu, who is part of the venture capital arm of crypto market-making firm Amber Group, messaged Unchained on Telegram saying, “I think XRP’s recent price surge is about the buzz around tokenizing [real-world assets]…” They’re teaming up with players like Archax to bring things like equities and global debts onto the XRP Ledger.”

Archax, a digital asset exchange, broker, and custodian, announced on Nov. 25 that it has provided access to a money market fund in a tokenized form on the XRP Ledger. “With such a huge opportunity to reshape how financial instruments are traded and managed, XRP is riding the wave of optimism now.”

Decentralized finance (DeFi), a subsector of the crypto space that enables users to conduct financial activities without intermediaries, has strong roots in Bitcoin, Ethereum, and Solana. Some crypto users are now exploring DeFi on the XRP Ledger.

For example, Robert Leshner, the CEO of asset management firm Superstate, said he was in the “trenches,” testing the infrastructure of automated market markets and inspecting the memecoins on the network, per an X post on Sunday.

Despite the recent upward price movement of XRP, people in the crypto space have long criticized the XRP Ledger for its lack of decentralization. Justin Bon, founder and chief investment officer of Cyber Capital, specifically pointed to the consensus mechanism for the XRP Ledger. “XRP’s consensus is based on UNLs (Unique Node Lists), literal centralized lists of trusted nodes released by single parties, including the foundation,” Bons wrote on X.

@ Newshounds News™

Source:  Unchained Crypto   

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XRP WORLD RESERVE CURRENCY  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps

More News, Rumors and Opinions Monday Afternoon 12-2-2024

KTFA:

Clare: The Iraqi Parliament begins voting on the “Personal Status” law. Learn about its content (documents)

12/2/2024

The Iraqi Parliament began voting on Monday on a draft amendment to the Personal Status Law, after months of political, popular and legal debate over the paragraphs to be amended.

Earlier today, the House of Representatives held a regular session with an agenda that included voting on personal status laws, general amnesty, and returning properties to their owners, which are still a subject of political controversy.

Shafaq News Agency publishes below the draft amendments to the law  LINK

Clare:  Al-Alaq to {Sabah}: Our critical position is very excellent

12/2/2024  Cairo: Israa Khalifa

 Thanks to the well-studied and wise financial policies of Prime Minister Mohammed Shia al-Sudani's government, the country's monetary position has become very excellent, as described by the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, in a special interview with "Al-Sabah".

This position came to reassure citizens and confirm that there are no real fears of any economic crises occurring here or there. Al-Alaq said in a special interview with "Al-Sabah": "The monetary position in Iraq is (very excellent) at the present time in terms of controlling inflation and the high adequacy of foreign reserves, which enables the Central Bank to remain stable, defend the exchange rate, and achieve monetary stability, despite the circumstances surrounding the country and the region."

He explained that "the reserve covers our needs, and this is what distinguishes the Central Bank of Iraq compared to other central banks in the region," noting that "the Central Bank adopts an unconventional monetary policy that is not based only on achieving monetary stability."

Al-Alaq announced the Central Bank's success in implementing the transition plan for "foreign transfers, in line with international practices and standards, and that it is currently taking place smoothly and transparently - especially covering imports at the official exchange rate - which leads to general stability in prices."

Regarding the (Riyada) Bank, the Governor of the Central Bank said: "The (Riyada) Bank will be contributed by Iraqi banks and supported by the Central Bank itself in order to diversify the production base, reduce unemployment levels, and provide basic pillars for sustainable development with the support of specialized international organizations." LINK

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

Mnt Goat   ...I want to tell you the statistics of the monetary mass in Iraq is in dinars not US dollars. Thus, 100 trillion dinars or about not even a trillion US dollars. I also want to bring out that the CBI just told us the size of the Iraqi foreign exchange reserves exceeds by 140% the local currency issued...  in the USA...the equivalent of the 1 dinar is expected to come out as about $4 USD.

Militia Man  Everyone is very impressed with Iraq's prime minister and especially where they are today.  They're focus is financial inclusion, bringing the Iraqi world, to the world...They got new technologies ... electronic taxes and tariffs...they're breaking out with their stock exchange.  Their stock exchange has been on fire the last two year.  One thing after another supports that Iraq has moved and done...things we've never seen before.  It's powerful information...It's exciting times...

Only good news in Iraq

Nader:  12-2-2024

https://www.youtube.com/watch?v=-8Z-34vpIcE

LIVE! WORLD DE-DOLLARIZATION WILL ACCELERATE. IT CANNOT BE STOPPED.

Greg Mannarino:  12-2-2024

https://www.youtube.com/watch?v=oSJpjv61EQc

Central Bank Collapse Incoming, Silver Prices will Explode

Central Bank Collapse Incoming, Silver Prices will Explode

Wall Street Silver:  12-2-2024

In recent months, the financial landscape has taken on a precarious demeanor, with rising concerns about massive national debt, banking instability, and inflation.

The latest voice in this conversation is Adrian Day, a seasoned investment strategist and advocate for precious metals, who has joined forces with Wall Street Silver to discuss the potential economic turmoil ahead and its implications for silver prices.

Adrian Day’s analysis paints a stark picture of the current financial environment. With national debts skyrocketing across the globe, particularly in the United States, Day argues that an impending “debt storm” threatens to unleash chaos on both domestic and international markets.

The pandemic-induced spending and subsequent monetary policy interventions have exacerbated the situation, pushing debt levels into uncharted territory. This reckless financial strategy, he warns, sets the stage for a possible banking collapse.

The signs are evident — increased borrowing, rising interest rates, and the likelihood of recession create a perfect storm for the financial system. As lenders tighten credit and consumers grapple with job instability and inflation, financial strains mount on institutions that may not withstand the strain.

 The interconnectedness of global finance implies that distress in one area can spiral outwards, potentially triggering wider banking crises.

With this precarious backdrop, Day emphasizes the urgent necessity for investors to reassess their portfolios. Traditional assets like stocks and bonds may not provide the safety and security that investors seek during turbulent times.

This is where silver enters the discussion. Historically seen as a hedge against inflation and currency devaluation, silver’s value is poised to rise as economic uncertainties amplify.

Day speculates that as confidence in the banking system wavers, more investors may flock to precious metals, driving up the demand for silver. The supply constraints due to production limitations and ongoing industrial demand for silver in sectors like technology and renewable energy further strengthen the case for a bullish outlook on silver prices.

The question on many investors’ minds is whether we are teetering on the edge of a banking collapse. Day argues that while the situation is concerning, it is not entirely grim. Governments and central banks have tools at their disposal to mitigate such crises, but their effectiveness depends on timely interventions and sound policies.

However, Day cautions that complacency could prove disastrous. The confluence of high debt levels, inflation, and banking vulnerabilities requires close monitoring and proactive measures. Investors who recognize the signs and take action could position themselves favorably in the forthcoming landscape.

As Adrian Day joins Wall Street Silver to share his insights on the evolving financial landscape, it becomes clear that vigilance and preparation are paramount. The looming debt storm, the potential for a banking collapse, and the rising value of silver as a hedge create an intricate puzzle for investors.

With Day’s expertise in precious metals, astute investors may find a path forward, leveraging the rising silver prices as both a safeguard and an opportunity amid economic uncertainty.

As the world navigates these choppy financial waters, the lessons from history remind us of the intrinsic value of tangible assets like silver. Whether the banking system can weather the impending storm remains to be seen, but one thing is certain: the conversation around silver and its role in safeguarding wealth will only grow louder in the coming months.

https://youtu.be/7d3txY5SM-I

“Coffee With MarkZ” Monday Morning Chat 12-2-2024

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

MarkZ  Update- Some highlights by PDK-Not verbatim

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

Member: Good morning and welcome to the first day of the rest of our lives. Imminent blessing and wealth to all

Member: I hear we have an RV this week

MZ: That’s the word out there….Guess we will see if its fact or fiction. We are very close either way.

Member: Charlie Ward says not until Jan. 20

MZ: I’m not hearing that from any of my sources- but if he’s right –it’s not that far away and we just have to survive until then.

Member: My birthday is tomorrow – do you think we may get notified tomorrow?

MZ: That’s certainly the rumor running around in a number of groups right now. That today and tomorrow are in the crosshairs for pulling the trigger on a reset. There are a ton of rumors for today. .

Member: Let’s hope they hit a bullseye.

MZ: I am waiting for my personal bond contacts to check in today before I get overly excited about the rumors. I am hearing rumors about today and tomorrow from the group side and other peoples contacts….but not from mine yet. So I have not allowed myself to get too giddy.

Member: My bank has maintenance tonight from 10:00 p.m. to 5:00 a.m. Tuesday morning I hope that's a sign from the good Lord above that we are here!!!!!

MZ: “Central Bank reveals the volume of its dollar sales today.” Today they spend $285 million in dollars and getting more dinar off the streets. Which increased the value.

MZ: “Parliamentary Finance: The meeting with oil focused on discussing the  amendment of an item in the budget”  Specifically they are discussing the last sticking point with the HCL. When that is finished- my Iraqi contacts are telling me the HCL will add value to the dinar. It is expected to be finished before Dec. 10th.

MZ: “Al Alaq: our critical position is very excellent” They want you to know just how stable the monetary  system is. Both inside and outside of the country.

MZ: “It doesn’t remain just “attractive” Iraq wants to invest its money in projects abroad”  They are investing inside of the country and outside of the country.  Huge articles coming out of Iraq this morning.

MZ : ” Vietnam to build a $67 Billion high speed railway” Why can’t they do this in the US? Can you imagine how much more efficient commerce and travel would be?  

Member; I saw dong at .3940

MZ: There are a lot of rates showing right now that would fix most of our financial problems. On bolivar right now…..it still has sanctions so we cannot trade it…yet.

Member: Current actual rate for Venezuelan bolivar .02103. Get your calculator out. Rumors indicate .31 to .29. I suspect a better rate soon.

Member: How can we exchange at banks if they are still run by the cabal?

MZ: they won’t be …after. That’s the biggest reason things have taken so long…imo…To make sure we are safe secure and asset backed.

Member: Anyone know if we have a limited window on redeeming??

Member: Two weeks to set appointments and 1 month to exchange . If I remember correctly.

MZ: I found this one interesting. “World’s Largest gold deposit found. Worth over US $80 Billion” in Central China.  About 1,000 metric tons. They keep finding more gold when its time for the world to go back to a gold-backed currency.

Member:  BRICS: they have developed a new international payment system, backed by gold.

Member: So what are your thoughts on Trumps latest statement against BRICS and slapping a 100% tariffs on those countries and any future countries thinking about joining

MZ: “Trump threatens 100 percent tariffs on BRICS members if they challenge US dollars”  They can still wor around these tarrifs by not doing a common currency and just using a basket. But the US will be forced to go asset backed.

Member: When I heard Trump talking about BRICS I was confused because I thought he was putting us on the Gold backed system.

Member: Mark, please explain if BRICS is bad, why? Aren’t we going asset backed too?

MZ: There is only one way to avoid the whole world going to BRICS…..that is if we go asset backed. The only way to avoid all these countries running to join BRICS is if the US does it first. If we go back to the gold/asset standard first- there will be few restrictions on other nations. I think that is what Trump is pushing. It looks like he will one-up BRICS and do it first. That is what we have been waiting on.

Member: That is how I took it! His statement means we are gold backed soon.

Member: IMO Ripple will be the World Reserve Bridge Currency. XRP

Member: Thanks for the awesome news today Mark and Mods…..fingers crossed this is our week.

Member: Everyone have a wonderful day

StacieZ joins the stream today. Please listen to replay for her information

YOU CAN FOLLOWER ZESTER ON MONDAYS, WEDNESDAYS, AND FRIDAY AT 5:00 PM EST.!! ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut

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.

 ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut

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

Twitch:   https://www.twitch.tv/theoriginalmarkz

Youtube:   https://www.youtube.com/watch?v=qI21MEY8Ys8

Iraq Economic News and Points to Ponder Monday AM 12-2-24

Guide To Iraqi Banknotes In Circulation
 
Central Bank of Iraq is pleased to present the Iraqi banknotes in circulation.
 
This technical leaflet highlights the security features and aims to be a guide to the public as well as to companies and commercial banks handling cash on a daily basis. In addition to the enhanced security features, the banknotes include raised printings to facilitate tactile recognition of the denominations by visually impaired users.

We encourage you to take your time to famil-iarize yourself with our banknotes and share the information with those around you. The current series of banknotes will be in circula-tion alongside the old banknotes, and there isno intention to withdraw the older banknotes from circulation.

The primary objectives of the Central Bank of lraq (CBI) are to ensure domestic price stability and foster a stable competitive market based financial system. The CBI shall also promote sustainable growth, employment and prosperity in Iraq.
 
The headquarter of the Central Bank of Iraq is in Baghdad and has three branches: Basra, Mosul, and Erbil.
 
lraqi banknotes are characterized by the most sophisticated security features and the high-est quality of security paper. Any attempt to produce, hold or pass counterfeit banknotes is a criminal offence and there will be severe legal punishments for such acts. Counterfeit banknotes must be surrendered to the police or the Central Bank of Iraq.

December 01, 2024  :diamonds: Guide to Iraqi banknotes in circulation .. For more, click here
       https://cbi.iq/static/uploads/up/file-173304177261220.pdf
 
https://cbi.iq/news/view/2724   
 
(partial text - see bilingual file, https://cbi.iq/static/uploads/up/file-173304177261220.pdf ,
for images and security descriptions)     

The Governor Of The Central Bank Told {Al-Sabah}: The Launch Of The “Riyada” Bank Is Near.
 
Second and third 12/02/2024  Cairo: Esraa Khalifa  The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, revealed the imminent launch of the “Riyada” Bank to support small and micro projects, while

he expressed his optimism about the country’s monetary position despite the circumstances of the region, stressing that  it is “very excellent,” and that the  Central Bank is on its way to

     completing the digital transformation in parallel with its success in
     Implementing the external remittance plan in accordance with international standards.
 
Al-Alaq said in an exclusive interview with “Al-Sabah” on the sidelines of his participation in the activities of the Arab Week for Sustainable Development (fifth edition), which was held in Cairo recently, that
 
“Riyada Bank will be contributed by Iraqi banks and with the support of the Central Bank itself in order to diversify the production base and reduce unemployment levels.” Providing basic foundations for sustainable development with the support of specialized international organizations.”

Green Bank  

He added, “The Central Bank is adopting a financing initiative to purchase solar systems and license the (Green Bank) to be the first bank in the region to specialize in green financing and renewable energy projects as part of confronting the challenges of climate change.” He explained that
 
he announced this in a session on “The Role of Central Banks in Climate Change.”) which was held in Cairo.  He pointed out that “the
 
Central Bank adopts an unconventional monetary policy, which is not based solely on achieving monetary stability using its traditional tools - although
 
this role has priority as it is a fundamental pillar in
 
     achieving economic stability and
     providing a stable and attractive environment for the business sector and foreign domestic investment - as the changes
 
The challenges facing the world and their effects on the national economy require a broader role and new tools to avoid risks and create appropriate and stable conditions, and
 
one of those challenges is climate change.” He stated that
 
“the Central Bank of Iraq agrees with the opinion that climate changes have direct effects.” In the economy, due to the decline in rates of economic growth, displacement, unemployment, and poverty caused by natural disasters, drought, and poverty, which calls for central banks to take a role in confronting the risks resulting from this, in order to maintain acceptable levels of sustainable development.”
 
Stability indicators 
 
The Governor of the Central Bank of Iraq added that he presented during the Cairo session;

He gave a detailed explanation of the development process in Iraq during the wars and unjust policies regarding Iraq’s resources and infrastructure, which led to serious declines in development indicators. He pointed out that  “with the decline of the last waves of terrorism in Iraq and the achievement of security stability, indicators of economic stability began to grow, and local and foreign investment began.”

It is on an upward path, and the Central Bank of Iraq has achieved several basic factors in general stability by
 
     combating and controlling inflation,
     maintaining high foreign reserves, as well as through its initiatives to
     stimulate economic sectors and
     provide a safe environment and freedom of movement. Investments. Al-Alaq stated that
 
“the experiences of countries have proven the pivotal role of small and medium enterprises, and  
therefore the Central Bank pays great attention to this issue,” pointing to
 
“the roles required and expected of central banks regarding the challenges of climate change, including ensuring financial stability by assessing the risks associated with climate change.”
 
Which requires 
     monitoring,
     developing tools to measure them,
     conducting climate stress tests that simulate the impact of climate events on the economy and the financial sector, and
     encouraging green financing by
     including environmental, social, and governance standards in lending and investment policies,” he explained.
 
“The Central Bank of Iraq is applying these standards in the banking sector with the support of the UNDP, as well as encouraging banks to finance environmentally friendly projects,” and noted that
 
“monetary policies can be modified to take into account the long-term impact of the climate, such as including grant-related securities within market operations.” "open".
 
Regarding his participation in the “Sustainable Development Conference” in Cairo, Al-Alaq said:
 
“It is an annual event held by the League of Arab States in cooperation with international and local partners.
 
The title of the held edition was (Sustainable Solutions for a Better Future), and 
one of its activities was the launch of the High-Level Regional Forum on Investment.” And sustainability, which is the first of its kind.
 
The forum aims to address the challenges and opportunities related to investment and sustainability in light of global economic trends, climate change and regional fragility.

It also aims to create a dialogue platform between governments, investors, banks and development agencies to enhance investment. Sustainable, and we participated with a working paper in the conference.”
 
Digital transformation
 
Regarding the digital transformation that the Central Bank of Iraq intends to implement, Al-Alaq said:
 
“There is a broad program, which takes on a great national dimension for us, and 
it is the digital transformation, which is one of the government’s priorities in cooperation with the Central Bank, and
 
we work together and with direct support from Prime Minister Muhammad Shiaa Al-Sudani. “To provide the requirements for this transformation, which constitutes an essential pillar of the digital economy in general.”  The Governor of the Central Bank affirmed that “the
 
government is moving to diversify production to advance the banking sector and financial policy, and
 
it is developing programs to reach the goal and 
taking into account the international, regional and local conditions - which are the keys to dealing with and presenting programs and plans that are compatible with all these conditions - and
 
there is diversification and strengthening of the national economy.”
 
In order for the banking sector to be active when there is a diversified production base,” Al-Alaq acknowledged,
 
“We as a country suffer from the fact that the main economic activity is the oil sector, and
 
what is linked to the transformation of oil resources into a sector trade primarily instead of employing it locally to serve development goals and diversify the production base, and
 
this calls for the necessity of activating the banking sector by providing the necessary financing to establish real projects in the basic economic sectors, especially in the industrial and agricultural sectors and other sectors,” indicating that
 
“this approach will lead to 
     Alleviating dependence on oil resources, as well as providing means of 
     real employment and growth.”

Monetary stability 
 
Regarding the impact of tensions in the region on monetary stability, Al-Alaq said:
 
“The monetary position in Iraq is (very excellent) at the present time in terms of 
     controlling inflation and the  high adequacy of foreign reserves,
 
which enables the central bank to 
     be steadfast, to
     defend the exchange rate, and to
     achieve stability.” cash,
 
despite the circumstances surrounding the country and the region,” indicating that 
“the reserve covers our needs, and  this is what distinguishes the Central Bank of Iraq compared to other central banks in "The area." At the end of his speech to Al-Sabah, Al-Alaq confirmed the
 
success of the Central Bank in implementing the transition plan for “foreign remittances, in accordance with international practices and standards, and that it is currently taking place smoothly and transparently - especially covering imports at the official exchange rate - which leads to general stability in prices.”

As for personal transfers and the use of cards outside Iraq, its system is being developed to ensure its smoothness, and agreement has been reached with all concerned companies regarding new mechanisms to enhance the relevant accounts.   https://alsabaah.iq/106575-.html   

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

Seeds of Wisdom RV and Economic Updates Monday Morning 12-02-24

Good Morning Dinar Recaps,

KEY US ECONOMIC EVENTS TO WATCH THIS WEEK WHICH WILL IMPACT THE CRYPTO MARKET

The crypto market has reached a new high, surpassing $3.4 trillion, as many altcoins outperform Bitcoin. This marks a significant moment for the market. With major economic reports on US jobs, employment claims, and manufacturing due this week, all eyes are on how these events could affect the crypto space. These reports could influence market sentiment and potentially drive the value of both Bitcoin and altcoins.

Key US Economic Event For This Week
Crypto markets gained last week after Donald Trump chose hedge fund expert Scott Bessent as Treasury Secretary. Now, crypto markets are closely watching key US economic data set to be released this week.

Dec 2: ISM Manufacturing PMI Report  
The ISM Manufacturing PMI report for November, set to be released on Monday, Dec 2, will shed light on the U.S. manufacturing sector and overall economic trends. This comes after weak data from the Eurozone, where the Euro dropped to a 23-month low of $1.0336.

As the U.S. ISM index is forecasted to rise slightly from 46.5 to 47.5, a weaker USD could drive investors toward Bitcoin and other cryptocurrencies.

Dec 3: JOLTS Job Openings
On December 3, the U.S. Bureau of Labor Statistics will release October’s JOLTS report, showing job openings, layoffs, and quits. Job openings have steadily fallen since March 2022 but rose to 8.4 million in August before dropping to 7.44 million in September.

Meanwhile, October’s forecast is a slight uptick to 7.49 million, as labor market trends remain crucial for Fed policy decisions.

Dec 4: National Employment Report
On December 4, the ADP National Employment Report will reveal November’s job growth in the private and public sectors. October’s report surprised markets with just 12,000 jobs added, far below expectations. While hiring has been slowing, September showed improvement, with 233,000 jobs added.

Earlier weak data has fueled expectations of a Fed rate cut, keeping market attention on this week’s report.

Dec 5: Jobless Claims Report
The upcoming jobless claims report on December 5 will provide fresh insights into the U.S. labor market. Last week recorded 213,000 claims, with a slight increase to 215,000 expected.

Despite fewer initial claims, rising continuing claims suggest employers are holding onto workers, but those laid off are struggling to secure new jobs.

Dec 6: US Employment Report
On Friday, December 6, all eyes will be on the November employment report, expected to show over 250,000 new jobs. The numbers will reflect the return of Boeing workers and recovery from Hurricane Milton.

This comes after weaker PCE data, hinting at a possible Fed rate cut ahead of its December 18 meeting.

In addition to this, Friday will also see the preliminary Michigan Consumer Sentiment Index and Inflation Expectations for December, providing a snapshot of consumer confidence and long-term inflation views.

@ Newshounds News™

Source: CoinPedia 

~~~~~~~~~

CURRENCY: WHAT’S HAPPENING WITH INDIAN RUPEE AND THE US DOLLAR?

The rupee has once again dropped, hitting a record low against the US dollar, slumping to hit 84.71 against the USD. The US dollar is currently sitting at 106, up 0.42% in the early, around 12:26 IST time.

Currency Update: Indian Rupee Records New Lows, What Happened?

The Indian rupee recorded a new blow to its valuation on Monday. The early hours of trading reported a staggering outlook of the rupee, displaying a noteworthy drop in its valuation. The INR is currently sitting at 84.61, hitting a new low against the USD.

The drop in INR has been primarily spurred by the slow economic growth data that has recently been released. The fresh statistics have revealed that the Indian economy has slowed much more than the anticipated markers, likely pushing the Reserve Bank of India to intervene and cut rates. The INR is already battered due to equity outflows that are triggered by the recent election win prompting Donald Trump to take the presidential lead.

This development represents a striking contrast, adding to how the Indian economic domain is experiencing slow growth, disrupting its earlier trajectory of becoming one of the world’s fastest-growing economies.

The ANZ bank, in a note released recently, shared how the RBI may cut rates as early as December 2024 to stabilize the current economic pillars of the nation.

Trump Fires BRICS on Twitter, Warns of New Tariffs

In the meantime, the president-elect, Donald Trump’s new statements concerning BRICS are also weighing on the Indian economy. Trump, in a new tweet, shared how he may impose 100% tariffs on BRICS nations in particular if they went ahead with their plans to launch a new currency against the US dollar.

“The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER. We require a commitment from these Countries that they will neither create a new BRICS Currency. Nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs. And should expect to say goodbye to selling into the wonderful U.S. Economy.

They can go find another “sucker. There is no chance that the BRICS will replace the U.S. Dollar in International Trade, and any Country that tries should wave goodbye to America.”

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

XRP'S SIX-YEAR HIGH OF $2.50 — WHAT MADE IT HAPPEN?

XRP has seen a remarkable surge, reaching highs of $2.50 in today's trading session, a level not seen since Jan. 8, 2018. This nearly seven-year high has captured the attention of the cryptocurrency community and the market alike.

According to on-chain analytics platform Santiment, whale accumulation might have contributed to this price surge. Whales and small retail holders accumulating together have contributed to XRP making history, reaching highs not seen since January 2018.

Santiment noted that the six-year or nearly seven-year high for XRP comes as wallets with 1 million to 10 million XRP have accumulated 679.1 million tokens in just three weeks. This accumulation is currently valued at approximately $1.66 billion.

According to Ki Young Ju, CryptoQuant CEO, Coinbase whales might be driving the XRP price rally. Over the past 30 days, during the surge, Coinbase's minute-level price premium has ranged from 3% to 13%. Meanwhile, Upbit — a Korean exchange with more XRP investors than Binance — has shown no significant premium so far.

XRP is also experiencing increased wallet activity. For the first time in the coin's eight-year lifetime, the total number of non-empty XRP wallets has exceeded 5.5 million.

Since Nov. 9, there have been 119,820 non-empty XRP wallets. Traders are increasingly rotating money out of Bitcoin and into other cryptocurrencies. Since Nov. 21, BTC's dominance rate, or share of the cryptocurrency market, has fallen from 61.5% to 56.5%.

At the time of writing, XRP was up 20.36% in the last 24 hours to $2.32 and up 54% in the previous seven days. XRP becomes third largest cryptocurrency in $100 billion rally XRP has vaulted rivals Solana and USDT, Tether’s stablecoin, to become the third-largest cryptocurrency following a $100 billion rally.

On Monday, the token climbed up to 20% to $2.50. In the process, its market value increased to $139 billion, up from less than $30 billion on Nov. 5.

XRP has been rising since Nov. 28, when it fell to lows of $1.28; taken from this date, XRP will mark the sixth day of gains if today closes in green. Broadly speaking, XRP has steadily climbed from Nov. 5 lows of $0.50 and has skyrocketed 353% in 30 days.

The cryptocurrency's remarkable surge has propelled it above the leading dollar-pegged stablecoin, Tether's USDT, to become the world's third-largest digital asset. XRP trading volumes have increased globally. Upbit, South Korea's largest cryptocurrency exchange, had a record $4.25 billion volume in the XRP-won pair in the last 24 hours. CoinMarketCap data shows that this accounts for almost 28.8% of the exchange's overall trading volume.

@ Newshounds News™

Source:  U Today   

~~~~~~~~~

CREEPY BROADCAST ALERTS THAT WARNED YOU  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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