Seeds of Wisdom RV and Economic Updates Thursday Afternoon 12-19-24

Good Afternoon Dinar Recaps,

BRICS CREATOR SAYS INDIA WILL BE 3RD LARGEST GLOBAL ECONOMY & KEY MEMBER

Things have changed dramatically for the BRICS bloc since the acronym was first coined in 2001. Over the last two years, it has become a key voice in the geopolitical and global economic sectors. Now, BRICS Creator Jim O’Neill has recently expressed his view on its trajectory, while noting that India is poised to soon be the third-largest global economy and a key alliance member.

In a recent interview with The Economic Times, the economist discussed the growth rate of the country. Specifically, he noted that India is “doing almost exactly what we thought over 20 years ago, and that is in the process of becoming bigger than Japan and Germany” and becoming a global force.

India Poised to be BRICS Leader? Jim O’Neill Discusses Shifting Power Balance

The last two years have seen the BRICS economic alliance notably increase in prominence. A massive reason for that has been its seeking of increased independence from a Western-dominated economic system. With de-dollarization being the focus, it has sought to increase the use of its own local currencies.

But that recent surge in prominence has overlooked the reality that the bloc has been in existence for more than 20 years. Moreover, it has continued to shift and change throughout that time. Now, the latest shift could be upon us. Indeed, BRICS creator Jim O’Neill has recently said India may well be on its way to being the third-largest global economy and a key BRICS member.

In a recent interview, O’Neill says India could be on its way to entering the top 3 “in the next five to ten years.” Moreover, he notes that the BRICS country is presented with a key opportunity in the near term.

“This is India’s chance to really demonstrate its ubiquity with some of the natural things in India’s favor.” Specifically, he noted that it is among the younger nations within the bloc. That is not the case for China, one of the key economies in the bloc. Moreover, it should lead to an increased labor force, while they should be able to thrive in a world shifting under a Trump-run America.

Interestingly, India’s relatively low global trade could help them as Trump returns to the White House, O’Neill notes. Tariff plans would not be as big a threat to the nation in the coming years. Meanwhile, the economist notes that Modi and India have been sought out by G7 and BRICS nations. They want India as an ally, and it is due to its strong growth prospects in the coming years.

@ Newshounds News™

Source:  Watcher Guru

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HONG KONG APPROVES 4 NEW CRYPTO TRADING PLATFORM LICENSES IN REGULATORY PUSH

The licensed platforms must meet rigorous standards and undergo evaluations to ensure compliance with global security practices.

Hong Kong’s Securities and Futures Commission (SFC) has issued licenses to four virtual asset trading platforms (VATPs), marking another step in its fast-tracked regulatory framework, according to a Dec. 18 statement.

The licensed platforms include:  Accumulus GBA Technology Ltd, DFX Labs Company Ltd, Hong Kong Digital Asset EX Limited, and Thousand Whales Technology (BVI) Ltd.

This brings the total number of licensed crypto trading platforms in the Asian city allowed to serve retail customers to seven, including HashKey Group, OSL, and the Hong Kong Virtual Asset Exchange (HKVAX).

Licensing regimes

The SFC stated that the recently licensed firms underwent rigorous on-site inspections earlier this year as part of the guidelines introduced in June. The inspections identified areas for improvement, which the firms addressed to secure their restricted licenses.

The licenses come with initial restrictions, but these will be lifted after the platforms pass a second-phase assessment by external evaluators. The process will ensure the platforms meet the required regulatory standards for full operational functionality.

The SFC emphasized that the VATPs must conduct vulnerability assessments and penetration tests through independent third parties. These evaluations are critical to maintaining security and align with global international standards.

The SFC’s Executive Director of Intermediaries, Eric Yip, stated that the licensing process involved close collaboration with the VATPs’ leadership teams. He highlighted the Commission’s dual focus on protecting investors while fostering growth in Hong Kong’s virtual asset ecosystem.

Yip said:

“We aim to strike a balance between safeguarding the interests of investors and facilitating continuous development for the virtual asset ecosystem in Hong Kong.”

Meanwhile, this development aligns with the SFC’s broader plan to expand the licensing of crypto businesses by year-end. In October, the regulator revealed that 11 additional VATPs are under license consideration, with approvals expected to roll out in batches.

The SFC’s proactive approach highlights Hong Kong’s commitment to becoming a global hub for virtual asset innovation while maintaining robust investor safeguards.

@ Newshounds News™

Source:  CryptoSlate

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News on Crypto Regulations for the US!  Bullish news for Utility Crypto!

Rich (CSC) announces that in early January, Congress will be passing crypto regulations soon after returning from break on January 3rd.  This will be followed by mass adoption of the utility ISO 20022 coins we have been talking about which will lead to the new financial system followed by the RV.  But we still have a while for all this to happen.  It just looks like it is all coming together a little sooner with regulations being addressed before the inauguration of Trump.  All good news.  

@ Newshounds News™

Source:  Common Sense Crypto

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OHIO JOINS GROWING TREND OF STATES CONSIDERING BITCOIN RESERVES

@ Newshounds News™

Source:  The Defiant

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FOREX TRADING: THE TAX SECRETS THEY WON'T TELL YOU  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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The Fed Saves Its Own XXX at Your Expense

The Fed Saves Its Own XXX at Your Expense

Notes From the Field By James Hickman (Simon Black)  December 19, 2024

Marco Polo never actually set foot on Japanese soil. But that didn’t stop him from writing the most wildly exaggerated tales about the immense, incredible wealth of Japan-- which he called Cipangu.

Supposedly Marco Polo had spoken to merchants and traders who’d been there, but it’s entirely possible he made it all up—typical for Marco Polo and his tall tales.

Nevertheless, about a century and a half later, a young Italian sailor devoured Polo’s writings and became convinced he had to lead an expedition to Cipangu and exploit the unimaginable wealth described in Polo’s stories.

That sailor, of course, was Christopher Columbus. After years of struggling to secure the necessary investment, he finally set sail in 1492. When he landed in Hispaniola, he thought he’d found Asia.

The local chieftain greeted Columbus with gold. So Columbus, channeling his inner Marco Polo, sent a letter home in the spring of 1493 describing the incredible wealth and gold riches of the discovered island.

Word spread quickly—well, as quickly as could be expected in the 15th century. But eventually, other explorers mounted their own expeditions.

In 1521, Hernán Cortés sent gold and silver from Mexico back to Europe, which arrived in Brussels that August. The artist Albrecht Dürer, traveling through Brussels at the time, described the gold pieces as big as the sun, and the silver as big as the moon.

Ten years later, in 1532, Francisco Pizarro ambushed the Incan Emperor, Atahualpa, who had to pay a literal king’s ransom in silver and gold.

Before long, mines across Latin America were producing vast amounts of precious metals, and Spanish treasure ships were crisscrossing the Atlantic, transporting gold and silver back to Europe.

The King of Spain couldn’t believe his newfound wealth. But there was a side effect.

All this new gold and silver flowed into the Spanish economy (and also the economies of other European kingdoms). Yet farmers were growing the same amount of food. Artisans were making the same number of shoes, hats, and clothes.

In short, the supply of goods and services in Europe remained unchanged, yet the supply of money circulating in the economy increased dramatically.

The natural consequence was a bout of inflation that lasted more than a century. Economic historians refer to this period as the “Great Inflation” or sometimes “Price Revolution”.

It’s extraordinary that modern-day “experts” can’t seem to figure out this basic principle.

During the pandemic, the Federal Reserve increased the money supply by trillions of dollars, practically doubling the size of its balance sheet almost overnight in early 2020.

And unlike the Spanish in the 1500s, the Fed didn’t have to mine any gold and silver-- they just push some buttons, and, poof, trillions of dollars of new money.

At the same time, though, throughout 2020-2021, people were told to stay home, cower in fear, and NOT work. This resulted in a DECLINE in goods and services in the economy.

In short-- the supply of money increased dramatically, while the supply of goods and services decreased. The result? Inflation. And the problem still hasn’t been fixed.

The Fed has been playing the ‘hero’ role for most of this year, acting as if they saved the economy and slayed the evil inflation monster once and for all.

Well, the most recent inflation report finally put an end to their hubris. Inflation is up, and even the Fed can’t deny it any longer.

Bizarrely, at this week’s policy meeting, the Fed decided to CUT interest rates... which is pretty much the opposite of what a central bank is supposed to do when battling inflation.

But we’ve already discussed why they’re doing this:: the Fed is saving its own ass at your expense.

Throughout the pandemic, the Fed used its trillions of dollars of newly-created money to buy US government bonds at a time when interest rates were at all-time record lows (i.e. bond prices were at record highs).

But then interest rates rose significantly in 2022, so the value of the Fed’s bonds plummeted. As a result, the Fed’s losses now exceed $800 billion, making it the most insolvent bank in the history of the world.

It’s crazy to think that the most systemically important bank on the planet is insolvent. But that’s the truth.

The only way for the Fed to become solvent again is to inflate the value of its bond portfolio, which means cutting interest rates—even though this won’t arrest inflation and risks making it worse.

Bear in mind, these people failed to anticipate the consequences of printing trillions of dollars and slashing interest rates to zero back in 2020. They failed to notice inflation when it was obvious in 2021. They called it “transitory.” They failed to act.

And when they finally did act in 2022—far too late—they failed to anticipate the consequences of their rate hikes, including the bank failures we saw in 2023.

Now inflation is rising again, but they’re cutting rates. Totally backward policy. It’s sort of like how Congress tries to spend and borrow its way out of debt.

Sure, these people at the Fed are human beings. They’re fallible and will make mistakes just like anyone else. Yet they’ve been so consistently wrong on just about everything... while at the same time their mistakes affect the lives and livelihoods of hundreds of millions of people.

What’s really strange is that this system is completely involuntary. Everyone alive is substantially affected by the Fed’s decisions, but we don’t elect Fed leaders. Only a handful are even appointed by the President. The rest are appointed by commercial banks like Citibank and Bank of America, which technically “own” the Fed.

For a country that claims to be a beacon of representative democracy, it’s crazy that the people who have the most influence over our financial lives are unelected “experts” who have been consistently and woefully wrong at almost every turn.

To your freedom,   James Hickman   Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/trends/the-fed-saves-its-own-ass-at-your-expense-151918/

Ariel: The Final Step and Deleting the Zeros

Ariel: The Final Step and Deleting the Zeros

12-19-2024

Iraq Dinar Update (Important Read)

#4 The Final Step

First Strategic Objective: Support and Enhance Monetary Stability

This strategic framework outlines four key sub-objectives with their corresponding initiatives to maintain monetary stability:

1. Stability of the General Level of Prices

– Issue medium or long-term securities capabilities
– Manage monetary policy rates in alignment with monetary stability and economic growth requirements
– Support and stimulate microfinance development
– Implement a comprehensive national lending strategy

2. Stability of Exchange Rates

– Transition from platform-based to correspondent bank systems for foreign remittance procedures

3. Manage Reserves According to Best Practices

– Diversify investment tools based on source
– Enhance and increase gold reserves

4. Improve the Quality and Structure of the Iraqi Currency

– Introduce new high-quality currency issues with reduced environmental impact
– Establish a dedicated currency examination laboratory
– Implement automation for cash operations, including counting and sorting functions

Do you see how close we are? What is the 1st thing they have to do in #4? Introduce a new currency correct? And they also stated that they want to complete this within 10 days which brings us to Christmas.

Everything started on December 15th. This is where the 10 days come from.

What does this mean for an foreign investor like Americans or other?

U.S. investors who purchased IQD at a fraction of its nominal value (e.g., 1 IQD = 1/100th of a U.S. cent) have effectively acquired significant amounts of IQD for very little USD.

For example, if you spent $1 to purchase IQD, you might currently hold a substantial number of IQD notes because of the historically low exchange rate.

A reinstatement or revaluation at a 1:1 exchange rate (1 IQD = 1 USD) would mean each IQD note would be worth one U.S. dollar.

Example: A 100,000 IQD note, purchased for a minimal cost, would convert to $100,000 USD under a 1:1 exchange rate.

If the value of the IQD increases beyond 1:1 to, for example, 1:3 (1 IQD = 3 USD), the same 100,000 IQD would convert to $300,000 USD. At 1:8, it would convert to $800,000 USD.

What a 100k IQD Note Will Be Worth Once You Convert It To USD Upon Revaluation?

1:1 (100k)
1:2 (200k)
1:3 (300k)
1:4 (400k)
1:5 (500k)
1:6 (600k)
Etc.

This basic math. Because regardless if you hold IQD this will be what the exchange rate will be on the Forex. People who attempt to buy IQD after the reinstatement on international markets will not see any profits. Only those who bought IQD at 1/100th of its price for pennies on the dollar.

When Iraq talks about “deleting the three zeros,” it typically refers to removing the zeros from the exchange rate, not necessarily from the physical currency itself. This is why people are confused. You think they will take out a magic marker and erase zeros off a paper currency?

Please give me your IQD so I can save you from disappointment. I, promise I will not give it back.

Article Here: https://jaredaiq.net/News/7929

These are the 3 zeroes on the exchange rate they will be deleting. Which will make 0.00076/0.76. Not the currency. Which means if you have 100k once it goes international you would gain only 0.76/76,000 USD/ROI.

So imagine the other examples of 1:1 or higher?

https://dinarchronicles.com/2024/12/18/ariel-prolotario1-the-final-step-and-deleting-the-zeros/

Coffee with MarkZ and Zester. 12/19/2024

Coffee with MarkZ and Zester. 12/19/2024

MarkZ  Update- Some highlights by PDK-Not verbatim

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

Member: Good morning. May today be a great day for all

Member: Start your Engines!! we are close!!

Member: Do you think it’s a possibility the St. Germaine trust may cash out Christmas Day this year?

Member: All our fingers are crossed

Member: Are we going to see a government shutdown Mark?

MZ: There are a lot of rumors when the government shuts down on Friday- things are going to rip…..My bond folks seem to think exactly that……sure am hopeful they are correct

MZ: Bond folks are still very excited and convinced we are exchanging by Christmas.

MZ: “The Central Bank of Iraq decides to add the Saudi Ryal and the Jordinian dinar”  I think this is the biggest story of the year. This story has me so excited. They are working on a smooth transition to this basket. These are the two biggest. Iraq said months ago they are going to base their currency on oil, resources, gold and a basket of other middle eastern countries currencies. This is how they are going to raise the value of the dinar. They are going to unpeg it from the USD and peg it to a basket of currency and their assets.

MZ: I am sure MilitiaMan and others are also extremely excited about this today.

MZ: “Federal Finance clarifies on the regions employee’s salaries”  the employees have not filled out their time cards but they are really mad they have not been paid. This article says Baghdad wants to pay them…but do the darn paperwork . We are close to a settlement of HCL

MZ: “Iraq is off the list of top US bond holders” they have been liquidating on the bonds and adding to other assets….is this Nesara or Gesara  as everyone unravels the strings tied to the US???

Member: A new contact (Mr T) of Melanie Hinds who correctly navigated the Kuwaiti Dinar/Swiss revaluations claims tonight is the most probable time for the RI with MANY compelling points.

Member: Good morning all!! I have a cool bank story: I went into my usual Wells Fargo on my way home from work to grab some mortgage money. I have not been in that particular branch in awhile because I haven’t needed to go in. Continued..

It is a smaller branch, but I walked in only to see they had renovated entirely; they only had 2 tellers where there used to be 4. They had walled up the other two and installed a “smart ATM”. I also seen something else that I hadn’t before in that tiny branch; 2 Premier Services desks. I started scratching my thinker. Why would you need Premier Services and Wealth Management here? It’s a very tiny branch in E********AL. I asked to clarify for my sanity, “When did you guys start offering Premier Services and Wealth Management? Is that new?” Cont…

She said, “Yes, that is new as well. We didn’t offer that here before.” I agreed and said that I didn’t think so. “Well, do you exchange foreign currency here?” “Oh, yes sir. We can buy it if you have any, or we can sell it as well.” Why start with “buy”? Maybe I’m reading too deep into it, but it’s very strange to see Premier Services there. Cont… that was confirmation enough for me and confirmation in my spirit is enough. In feel it in my bones!!!!

Member: Already had an email from the wealth manager of our bank asking if he can help us !!!

Member: From a Regions Bank person. they are all in on QFS. Have been for a year or more

Member:  My credit union online banking in Pennsylvania was shutdown for 3 hours yesterday morning. I called and asked what happened and was my money safe? Answer was : was a glitch in the system .

Member: Citizens bank was open about currency. Opening an account there because they will exchange dinar and vnd.

MZ: Yes they have been very open about it.

Member:  It's been quite sometime that I had a good Christmas…. really praying hard…. this Time around would be truly Fantastic with the RV for all the Tiers.

Member: When you consider that Christmas is the one holiday that is observed worldwide, I can’t think of a better date than that for the RV

MZ: Dr. Scott Young should be on our stream tonight. See you all then.

Zester joins the stream today talking about Crypto. Please listen to the replay for all his information and opinions.

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

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=DOj9KE4KuZQ

News, Rumors and Opinions Thursday 12-19-2024

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 Thurs. 19 Dec. 2024

Compiled Thurs. 19 Dec. 2024 12:01 am EST by Judy Byington

Global Currency Reset: (RUMORS)

Wed. 18 Dec. 2024 TNT: Yes, we are going to get paid.The RV is still going.

Banks are awaiting a memo from the Feds. that the Feds will send out this afternoon. It will (allegedly) go between now and Friday 19 Dec.

Everyone is waiting for the RLUSD Digital currency to go live.

The new rates are still there and live. VIPs are still exchanging.

Everyone is sitting in New York and not leaving until this is live – between now and Saturday morning.

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Wed. 18 Dec. 2024 Wolverine: “I have talked to Paymasters and Reno. It’s all coming before Christmas. Platforms have to be closed by Friday, so it should be released between now and Saturday Morning. Please get ready as we are about to go warp speed. This is real this time and no rumor or hopium. It’s been very hard on me to do this for all of you as I’ve had sleepless nights trying to get information for all of you.

All platforms need to be close off by tomorrow or latest by Saturday so they can start releasing those funds. We are now at the cusp of this so I want everyone to remain close to God and give him thanks for everything that is coming. That opera will come out tomorrow by the grace of God.

Thank you for all the support you have given me and above all I like to thank my wife who has been a tremendous support to me as she has always said to me that I should never give up as she knew this was for the rescue of humanity. I also like to thank God above all else for giving me the strength to continue on and never given up. I will receive a call tomorrow but I don’t know what time so I can release the opera. Get ready everyone God bless everyone Your friend Wolverine

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Wed. 18 Dec. 2024 Fed Chair Jerome Powell: Jerome Powell’s URGENT News For XRP, HBAR and XLM Holders (SHOCKING)

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Global Financial Crisis:

On Wed. 18 Dec. 2024 the Dow tumbled more than 1,100 points and marked its longest losing streak since 1974.

Wed. 18 Dec. 2024 ALERT: 7,100 Stores Closed in 2024 – War on Local Economies EXPOSED – Globalist Agendas Behind Retail Collapse – Big Banks and Corporations RIGGING the System RIGHT NOW! – Gazetteller

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The Real News for Wed. 18 Dec. 2024:

Wed. 18 Dec. 2024: WOW Buried in the 1500 page spending bill is a 40% PAY INCREASE FOR CONGRESS. Members of Congress salary will be increased from $174,000 to $243,000 per year.

Mon. 16 Dec. 2024: BREAKING!! NESARA’S SECRET ROLLOUT EXPOSED: THE GOLDEN AGE IS HERE! …Nesara/Gesara on Telegram

What’s Next?: Debt forgiveness, universal income, and a gold-backed currency are on the horizon. Public announcements by NESARA-aligned leaders will signal the start of a new era. The elites are crumbling, and the golden age is within reach.

Read full post here:  https://dinarchronicles.com/2024/12/19/restored-republic-via-a-gcr-update-as-of-december-19-2024/

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

Militia Man  The dollar auctions are what's the problem.  That's where the corruption is and that's about ready to go bye-bye because [Alaq] said he's getting rid of the black market.  The things he's doing is naturally gradually getting it done.  I think by changing the exchange rate with Article 12 in the Gazette, budget being exposed we're going to find out...They're not paying salaries and not reopening the oil after losing $20 billion to keep the exchange rate at 1310.  That doesn't make sense to anybody...

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:  Mr Sammy told me the dollar auctions were the main and only thing that was holding down the value of the Iraqi dinar and now that Iraq has opened channels to the international countries for money transfers and when the black market of the dollar auction closes it will allow the value of our currency to go up.  FRANK:  I agree with him 100%...The stoppage of the auctions is the key to everything.  All of the other dominoes are going to fall one after the other at a very fast pace...Sudani is working very hard to make sure that he closes the auctions with everything in place in order to give you purchasing power he promised you...

Why Did Fed Crash Markets Today (Wednesday) ? ‘Something Is Going To Break’ | Komal Sri-Kumar

David Lin:  12-18-2024

Komal Sri-Kumar, President of Sri-Kumar Global Strategies, discusses the latest FOMC decision and why equities tanked in response.

0:00 - Market reaction to Fed rate cut

6:00 - Pause in 2025

8:30 - Inflation outlook

11:30 - Tariffs and inflation

 16:35 - Labor market

 21:00 - Rate cuts and economic growth

23:20 - QT and QE

24:38 - Treasury yield outlook

28:00 - Are stocks signalling recession?

 29:20 - Geopolitical risks

32:40 - Deficit reduction

34:16 - Investment opportunities

 35:35 – DXY

https://www.youtube.com/watch?v=njP6dqkJenA

Iraq Economic News And Points To Ponder Thursday AM 12-19-24

Get Ready.. The Exchange Rate Is On Track For A New Rise: The Dollar Selling Platform Will Stop And “The Shock Is Coming”

 Economy ​ 12-17-2024, 15:38 |Baghdad today – Baghdad    Economic affairs specialist Nasser Al-Tamimi warned today, Tuesday (December 17, 2024), of a rise in the dollar exchange rates in Iraq in the coming days.

 Al-Tamimi told “Baghdad Today” that   “there are real fears in the Iraqi market about the continued rise in dollar exchange rates after the platform was suspended by the Central Bank of Iraq,” noting that   “this matter will constitute a shock, especially at the beginning of the implementation of the decision and will push for a rise.”

The dollar, to increase demand for it in the parallel market.” He added,

"After stopping the platform, most merchants, especially small ones, will rely on the parallel market to finance their foreign trade, while continuing to finance trade with Iran and Turkey with dollars, in illegal ways," pointing out that

 "this is what will push the rise and that is why practical steps must be taken to prevent This is done by the monetary authority in the country, and urgently.”

 On Wednesday (September 4, 2024), the Central Bank of Iraq revealed the mechanism for ending the electronic platform for external transfers, while indicating that placing external transfer operations and meeting requests for the dollar is on sound paths and consistent with international practices and standards. The bank said in a statement received by “Baghdad Today” that

 “the electronic platform for external transfers managed by the Central Bank of Iraq began at the beginning of 2023 AD as a first stage to reorganize financial transfers in a way that ensures proactive control over them instead of subsequent control through the Federal Reserve auditing daily transfers.”

 This was an exceptional measure, as the Federal Reserve does not usually undertake this, and

 a gradual shift was planned towards building direct relationships between banks in Iraq and foreign correspondent and accredited banks, with an international auditing company mediating this. By pre-scrutinizing transfers before they are executed by correspondent banks. He added,

 "During the year 2024 and until now, 95% of the transfer process has been achieved from the electronic platform to the direct correspondent banking mechanism between it and the Iraqi banks.

 This means that only about 5% of it remains inside the platform, which will be transferred through the same mechanism before the end of this year." year and according to the plan,” explaining that

 “some expectations about possible effects on the exchange rate and transfer operations are unfounded, because  the process will not happen suddenly or in one batch at the end of this year, but rather  it was already achieved during the period.”

"With effort and careful follow-up, the remaining small percentage will be completed in the next short period." He stressed that   "trade with the United Arab Emirates, Turkey, India, and China represents about 70% of Iraq's foreign trade as (imports),

 which called on the Central Bank of Iraq to find channels for transfer in the currencies of the euro, the Chinese yuan, the Indian rupee, and the Emirati dirham, via correspondent banks." approved in those countries, and

 (13) Iraqi banks have already begun conducting transfer operations with a pre-audit mechanism that has been agreed upon and approved, in addition to transfers in the dollar currency.”

He continued:  “With the provision of channels for   personal transfers for legitimate purposes and   foreign purchases through electronic payment channels and international money transfer companies,

  cash sales to travelers, and   payment of cash dollars for incoming transfers to the destinations and purposes specified in the Central Bank’s published instructions.”

The Central Bank of Iraq stressed that it has “put external transfer operations and meeting requests for the dollar on sound paths and are consistent with international practices and standards and the law on combating money laundering and the financing of terrorism,” explaining that

 “providing the aforementioned channels for all purposes at the official price of the dollar makes this price the real indicator of practices.”

This is proven by the reality of price stability and inflation control, and any other price that is traded outside these channels is considered an abnormal price that is resorted to by those who resort to non-fundamental or illegal practices who stay away from official channels in their dealings.

 They alone bear the additional costs by purchasing at a higher price than the official price, in order to deceive others about the difference between the official price and others.”  https://baghdadtoday.news/264127-استعدوا.-سعر-الصرف-على-موعد-مع-ارتفاع-جديد-منصة-بيع-الدولار-ستتوقف-والصدمة-قادمة.html   

Iraq is outside the list of major countries holding US bonds
 
Money and business Economy News - follow up   The US Treasury Department announced on Tuesday that Iraq is no longer a major foreign holder of US bonds.
 
According to the Treasury report for September, which showed that Iraq was not among the top 20 countries that hold US bonds, after last year it was ranked among the top holders with a holding amounting to $32.6 billion.

The report indicated that  “Japan topped the list of major countries in possession of US bonds, as its possession amounted to $1.123 trillion, followed by  China in second place with a possession of $772 billion, while the United Kingdom came third with $764 billion, and the  Cayman Islands came fourth with $420 billion.”

Luxembourg is fifth with $417 billion, and  Canada is sixth with $370 billion.
 
The report indicated that Saudi Arabia was the only Arab country that maintained its position among the 20 largest holders of US bonds, as its holding amounted to $143.9 billion.
 
The report indicated that the total holdings of US bonds around the world amounted to 8 trillion and 872 billion dollars in September.
 
US bonds are a type of debt instrument issued by the US government to raise money, and  many countries buy them as a safe investment.
 
In past years, many Arab and foreign countries, including Iraq, owned large amounts of these bonds, and
 over time, Iraq's possession of American bonds decreased until it fell out of the list of the top 20 countries holding these bonds.  views 249   https://economy-news.net/content.php?id=51026   

The Central Bank Expands External Transfer In New Currencies
 
Thursday 19, December 2024 11:24 | Economical     Number of readings: 81  Baghdad / NINA / The Central Bank of Iraq announced the expansion of external transfer channels for local banks,
to include new currencies: the
 
     Jordanian dinar and the
     Saudi riyal, and to
     allow Iraqi banks to finance trade with Turkey in the euro, after it was limited to use with European Union countries,  in addition to transfers available in currencies.
 
     US dollar,
     UAE dirham,
     Chinese yuan and
     Indian rupee.
 
The bank explained in a statement: 
“This step comes as part of its efforts to expand options for financing foreign trade in various currencies and channels,” indicating that  it has begun taking the necessary measures to meet banks’ requests in these currencies. He pointed out:

 “This expansion of external transfer channels 
     provides transfer operations at the official rate, and
     aims to streamline the transfer and
     involve a larger number of banks in external transfer operations, and
     expand the horizons of economic cooperation between Iraq and other countries,
 
especially in light of the bank’s endeavor to find other channels to meet the volume of The demand for various foreign currencies according to Iraq’s dealings with those countries.” / End 3 
 
https://ninanews.com/Website/News/Details?key=1175491   

Specialists Suggest Restructuring Some Banks Similar To Government Ones
 
Economical 12/19/2024  Al-Sabah: Hussein Falih  Experts and specialists in financial and banking affairs stressed the need to redouble efforts aimed at restoring customers’ confidence in banks, stressing that  
this step would absorb the accumulated cash mass and increase the volume of deposits,
 
calling at the same time for the restructuring of some private banks similar to government ones.
 
Financial advisor Abdul Rahman Al-Sheikhli told Al-Sabah: 
The Iraqi banking system was suffering from many problems, especially before 2003 as a result of the lack of private banks,
 
but after 2003 work expanded to establish many banks, but
 
most of them did not keep pace with international systems and standards, so it was You suffer from a lot of problems. Al-Sheikhly added that
 
restructuring
 
during the last year and a half, specifically after the imposition of US Federal sanctions on some banks, all of them began seeking to restore their status in a manner consistent with international standards, stressing the
 
necessity of restructuring some banks in order to be supported by international standards. The financial advisor pointed out the
 
Hoarding money
 
necessity of restoring trust between the banking institution and the customer, as
 
it was lost a long time ago,
 
which prompted citizens to hoard their money outside banking channels for the purpose of preserving its timely disposal, because
 
some private banks due to
 
     circumstances beyond their control,
     mismanagement, and
     other matters.

It kept the citizen away from the banks. The spokesman pointed out

Electronic systems
 
the necessity of 
     moving completely towards automation and the
     use of modern electronic devices in a manner commensurate with the large size and responsibility undertaken by banking institutions, stressing that
 
in the recent period these banks have begun to change their work towards electronic systems according to the government’s directions. Al-Sheikhli explained that the
 
Sound system
 
Prime Minister recently focused on a very important aspect, which is 
     restructuring government banks, first, and
     then private banks, where  
government banks began, especially in the Rafidain Bank, and the 
completion rate for this project reached the range of 74 to 75 percent, and
what remains is only less than 25 percent and perhaps It will be completed soon, so 
we will have a wonderful model of a very sound banking system that we can adopt and emulate in other banking institutions.
 
Serious steps 
For his part, the expert in financial and banking affairs, Mustafa Akram, said in an interview with “Al-Sabah”:  The government has begun serious steps to rehabilitate and develop the Iraqi banking system, as  most banks, especially private ones, suffer from backwardness as a result of monetary policies, indicating that the   government has focused on
 
     automating the work of banks and introducing a
     system Electronic payment in order to develop the Iraqi banking system.
 
Digital transformation
 
It is noteworthy that the Association of Private Banks recently announced an increase in deposits in the banking sector during the last two years, while  indicating the government’s great interest in the recent period regarding digital transformation in general and the shift towards an electronic payment system, and that “during the last two years deposits in the banking sector increased,
 
Nearly 75 percent of the monetary mass is outside the banking system and requires a great effort to motivate citizens, companies, and institutions to use the banking system more, which is what is currently happening, but  this type of work needs to be accelerated to control financial operations in Iraq.    https://alsabaah.iq/107455-.html 

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

Seeds of Wisdom RV and Economic Updates Thursday Morning 12-19-24

Good Morning Dinar Recaps,

GERMANY’S DEKABANK LANDS CRYPTO CUSTODY LICENSE

Germany’s DekaBank has received a bank crypto custody license from German regulator BaFin and the European Central Bank (ECB). We believe Commerzbank was the first German bank licensed last year. However, other major banks have not received licenses, including DZ Bank.

BaFin has issued another 11 crypto custody licenses, mainly for crypto firms. One of them is the digital asset custody subsidiary of Hauck Aufhäuser Lampe Privatbank.

The difference with DekaBank and Commerzbank versus the crypto firms is they are licensed under the Banking Act (KWG).

This is DekaBank’s second new license this year. In July it received a license as a crypto securities registrar for the German issuance of DLT-based digital securities. These crypto securities don’t require a central securities depository (CSD) for issuance.

DekaBank is very active in the digital asset space. It is the founder of SWIAT, the blockchain platform for digital securities in which Standard Chartered and LBBW are also investors. In September Siemens used the platform to issue a €300 million digital bond.

Our understanding is that a crypto custody license is not needed for crypto securities, but is required for cryptocurrencies.

As part of the announcement, DekaBank said this allows the bank to operate throughout Europe under the EU’s MiCAR crypto legislation.

A MiCAR holdup?

We’ve previously reported that there’s a bit of a challenge with MiCAR for German institutions. In October 2023 a draft version of the Supervision of Crypto Markets Act (KMAG) was introduced. It’s the piece of legislation that supplants Germany’s old crypto rules with MiCAR. The problem is this legislation has not been passed and with the collapse of the German ruling coalition, it’s not likely soon.

Hence, while in theory DekaBank’s license will allow it to operate in the EU, we believe that may be subject to the passage of the KMAG law. We contacted DekaBank to confirm, but didn’t receive a response in time for publication.

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

XRP LAWSUIT: JOHN REED STARK SAYS JUDGE TORRES WAS ‘MISTAKEN,’ SLAMS RIPPLE DECISION

The legal battle between Ripple and the SEC has been gaining momentum as the January 15 hearing approaches. John Reed Stark, a former SEC enforcement official and crypto skeptic, recently appeared on Docket Media LLC podcast and opened up about the historic Ripple decisions. He said that the Ripple ruling doesn’t provide broad legal clarity and should only be applied to cases with similar specific facts.

He criticized the Ripple decision, claiming that many people misunderstand the ruling, likely because they haven’t fully read it. He argued that Judge Torres was ‘mistaken on multiple counts, a view shared by other judges who have reviewed the case.

“There’s so many things about the Ripple decision that people get entirely wrong because I don’t think they read it. It’s completely… it’s respectfully to Judge Torres, I think she was mistaken on multiple counts, as does Judge Rakoff and every single other judge that has looked at that decision (thought),” he said.

Stark pointed out that the Ripple decision was twofold. First, he agreed that the initial offering of XRP tokens to sophisticated investors should have been registered as securities to protect those investors. However, Stark disagreed with the decision when it came to the secondary market, where XRP was traded on exchanges.

‘Ripple Decision Created Confusion’

He argued that the lack of a direct relationship between Ripple and retail investors meant they weren’t protected, which he believes is an unfair argument. Stark compared it to buying stocks in companies, where investors don’t have a direct contractual relationship with the company but are still protected under securities regulations.

Stark also criticized the Ripple decision for creating confusion, especially after pro-crypto companies began citing it to argue that tokens were not securities. In response, the SEC sought an interlocutory appeal, hoping to stop the ongoing proceedings. However, the judge rejected the SEC’s request, stating that the Ripple decision could not be used as precedent unless the exact same circumstances were present.

@ Newshounds News™

Source:  CoinPedia

~~~~~~~~~

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“Tidbits From TNT” Thursday Morning 12-19-2024

TNT:

Tishwash:  In Jordanian Dinar and Saudi Riyal..Iraq expands foreign transfers with new currencies

The Central Bank of Iraq announced, on Thursday, the expansion of external transfer channels for local banks, to include new currencies other than the dollar, namely: the Jordanian dinar and the Saudi riyal.

The bank also decided to allow Iraqi banks to finance trade with Turkey in euros, after it was previously restricted to use with European Union countries, in addition to transfers available in US dollars, Emirati dirhams, Chinese yuan and Indian rupees.

The bank explained in a statement today that "this step comes within its efforts to expand foreign trade financing options in various currencies and channels, and the bank has begun taking the necessary measures to meet banks' requests in these currencies."

The statement also indicated that "this expansion in the foreign transfer channels provides transfer operations at the official price, and aims to streamline the transfer and involve a greater number of banks in foreign transfer operations, and expand the horizons of economic cooperation between Iraq and other countries, especially in light of the bank's efforts to find other channels to meet the volume of demand for various foreign currencies according to Iraq's dealings with those countries."

The bank confirmed that "a smooth transition took place during 2024 from the electronic platform to directly approved correspondent banks, and thus the Central Bank achieved a fundamental transformation in line with international banking practices, and this transition is widely praised." link

************

Tishwash:  Central Bank of Iraq expands foreign transfers with new currencies

The Central Bank of Iraq announced the expansion of foreign transfer channels for local banks to include new currencies: the Jordanian dinar and the Saudi riyal, and allowing Iraqi banks to finance trade with Turkey in euros after it was previously limited to using them with European Union countries, in addition to transfers available in US dollars, Emirati dirhams, Chinese yuan and Indian rupees.

The bank explained that this step comes within its efforts to expand foreign trade financing options in various currencies and channels, and the bank has begun taking the necessary measures to meet banks' requests in these currencies.

The Central Bank indicated that this expansion in foreign transfer channels provides transfer operations at the official price, and aims to streamline transfers and involve a greater number of banks in foreign transfer operations, and expand the horizons of economic cooperation between Iraq and other countries, especially in light of the bank's efforts to find other channels to meet the volume of demand for various foreign currencies according to Iraq's dealings with those countries.

It is worth noting that a smooth transition took place during 2024 from the electronic platform to directly accredited correspondent banks, thus the Central Bank achieved a fundamental transformation in line with international banking practices, and this transition is widely praised.

Central Bank of Iraq
Media Office
December 19, 2024  link

*************

Tishwash:  Iraq Stock Exchange: Global Aspirations Amidst Internal Challenges

Financial markets are one of the modern economic pillars through which savings are directed towards investment, in addition to expressing the strength and stability of the economic stability in any country. Therefore, activating and developing the stock market is considered one of the basic matters that will help achieve development in Iraq, as it will provide investors with greater opportunities to invest in stocks and achieve profits.

However, the Iraqi Stock Exchange, when compared to the markets of neighboring countries, is considered small in terms of trading value, as foreign investors’ confidence in the Iraqi market is still low due to unstable political and economic factors, as well as administrative and legal procedures that hinder the opening of accounts for foreign investors and the transfer of profits.

The market was established in 1992 under the name of the Baghdad Stock Exchange pursuant to Law No. 24 of 1991. After 2003, its name was changed to the Iraq Stock Exchange. It was governmental and at that time was able to list 113 Iraqi private and mixed joint-stock companies.

Weakness of industry and agriculture

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, said in an interview with Shafaq News Agency, "Iraq inherited a one-sided economy that lives on oil revenues due to half a century of wars, conflicts, siege and economic isolation."

He added, "Unfortunately, the two most important sectors that form the backbone of the stock market's diversity are industrial manufacturing companies, agricultural companies, and the logistics companies associated with them, and these two sectors are very weak."

He continues, "The agricultural and industrial sectors only constitute 6 to 7% of the gross domestic product, and most of their activity is individual and non-contributing. It is natural for the market to follow the trend of the overall economy and its nature in terms of the degree of diversity."

Saleh points out that “the banks’ share in the stock market dominates more than 50% of the market’s activity, and there are commercial activities associated with it. This is due to the liberalization of the national economy with high liberalism that transformed the single-rent economy into a consumer market economy linked to external supply chains due to the high financing leverage provided by oil revenues and the operating expenses associated with them.”

He stressed that "the new economic policy of the state is based on a productive partnership between the state and the private sector to raise the levels of economic diversity. Therefore, the strength of the stock market is undoubtedly linked to the strength of economic diversity in our country."

Limited market hours

The broker in the Iraqi Stock Exchange, Mohammed Madloul, said in an interview with Shafak News Agency, "The Iraqi market is still backward compared to the countries of the region. For example, Egypt and the Emirates have a price tape for stocks that remains open for 24 hours in public squares and streets, and any citizen can buy company shares from outside the market. However, the situation in Iraq is limited to specific hours, and the market ends between the seller and the buyer during these hours."

He added, "The value of shares of some listed companies is being traded at prices lower than the dinar so far, which represents an image of the small size of investment that the market is suffering from," adding that "the market value of banking sector companies increased from 6.88 trillion Iraqi dinars in 2021 to reach 10 trillion dinars in 2024."

Small market

Economic expert Dhurgham Muhammad Ali said in an interview with Shafaq News Agency, "The Iraqi market is still small due to the lack of large companies and a strong private sector in Iraq, and thus the market's performance reflects the weakness of the various Iraqi development sectors and the public's weak confidence in it."

He explained that “trading in the market is still technically less than its Gulf counterparts, and we lack sound management of investment portfolios, and the value and volume of the stock exchange’s performance is directly proportional to the efficiency of the companies whose shares are listed on it, in addition to the weakness of brokerage firms and the restrictions imposed by the market on their work and the weak influence of the Securities and Exchange Commission, the supervisor and legislator of the local stock exchange.”

Smart devices for the market

For his part, the Executive Director of the Iraq Stock Exchange, Taha Ahmed Abdul Salam, pointed out in an interview with Shafak News Agency, that "economic and political stability play an important role and the future vision of joint-stock companies."

He explained that "the number of joint-stock companies in the market has increased from 105 to 107 companies, and we are working on listing new companies, which all play a role in attracting new investors."

He added, "The Iraqi market signed a contract with the Egyptian Stock Exchange to use OMS, which allows users to trade via smart devices, and we expect it to be launched in June or July of next year."

The Iraqi Stock Exchange is expected to witness a significant increase in the coming months and years, especially with the improvement in the revenues of the listed companies and the development of their businesses, which makes it a market capable of attracting domestic and foreign investments  link

Mot: And the Same ole Earl!!! 

Mot: ... Getting those Letters Sent in EARLY!!!! 

MilitiaMan & Crew-Iraq Dinar News-Electronic Transfers-Shocks to Parallel Market-United Nations-IMF-Praise Iraq

MilitiaMan & Crew-Iraq Dinar News-Electronic Transfers-Shocks to Parallel Market-United Nations-IMF-Praise Iraq

12-18-2024

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=QDry3YCfW8k

Seeds of Wisdom RV and Economic Updates Wednesday Evening 12-18-24

Good evening Dinar Recaps,

EL SALVADOR SECURES IMF DEAL AS BITCOIN ACCEPTANCE TURNS VOLUNTARY

The $1.4 billion IMF agreement establishes voluntary Bitcoin acceptance in the private sector while limiting public sector involvement.

▪️El Salvador reached a $1.4 billion agreement with IMF making Bitcoin acceptance voluntary.

▪️The deal includes fiscal measures and expects $3.5 billion additional financing from World Bank and regional banks.

El Salvador has secured a $1.4 billion agreement with the International Monetary Fund (IMF), marking a shift in the country’s crypto policies by making Bitcoin acceptance voluntary.

The agreement, which requires IMF Executive Board approval, includes fiscal consolidation measures targeting a 3.5% improvement in the primary balance over three years.

El Salvador’s public debt, which reached 85% of GDP in 2024, is expected to decrease under the program.

The deal anticipates additional financing of $3.5 billion from the World Bank and regional development banks to support the country’s economic reforms.

As part of the agreement, El Salvador will reduce Bitcoin’s role in its economy.

The government plans to make private sector adoption of Bitcoin voluntary while limiting public sector involvement.

Taxes will only be accepted in US dollars, further scaling back Bitcoin’s official use.

Officials will also gradually wind down the state-backed Chivo e-wallet operations and restrict Bitcoin-related transactions.

The announcement coincides with Bitcoin’s price decline to just above $100,000, following its recent all-time high of $108,000, as markets react to the Federal Reserve’s hawkish stance on interest rates.

El Salvador’s economy shows resilience amid these changes, benefiting from strong remittances, growing tourism, and improved security conditions.

@ Newshounds News™

Source:  Crypto Briefing

~~~~~~~~~

HONG KONG'S HASHKEY GROUP LAUNCHES ETHEREUM LAYER 2 HASHKEY CHAIN ON MAINNET

▪️HashKey Group has launched its Ethereum Layer 2 HashKey Chain on mainnet.

▪️HashKey joins other crypto firms like Coinbase and Kraken in building their own Layer 2 networks using the OP Stack.

HashKey Group has launched HashKey Chain on mainnet just eight months after first announcing plans to introduce its own Ethereum Layer 2.

HashKey Group is a Hong Kong-based regulated digital asset financial services provider offering trading, asset management, custody and blockchain ecosystem solutions.

During the testnet phase, which began on Nov. 11, the firm claims that HashKey Chain generated nearly 25 million transactions, registered more than 860,000 wallet addresses and achieved 400 transactions per second under test conditions.

A total of 50 projects were successfully deployed, with 300,000 community members actively participating, it said in a statement shared with The Block.

Similar to Coinbase’s leading Layer 2 network Base and Kraken’s upcoming Ink, HashKey Chain joins the broader Ethereum ecosystem as part of the Superchain — a network of interoperable Layer 2 blockchains built using Optimism's OP Stack, which enables seamless communication and scalability across networks.

Other projects, including OP Mainnet itself, Zora and Worldcoin, have already deployed Layer 2s on the Superchain, with the decentralized exchange Uniswap unveiling its own Unichain optimistic rollup plans in October.

“Leveraging the latest OP Stack and rollup technology, we have expanded network capacity to deliver a smoother user experience,” HashKey Eco Labs CEO Kay Lu said. “This also creates a secure, efficient, and developer-friendly environment for building transformative decentralized applications on a compliant and innovation-driven public chain.”

@ Newshounds News™

Source:  The Block

~~~~~~~~~

🌱THE REPUBLIC CITIZENSHIP #SOVEREIGNTY  |  Youtube

Mason on Citizenship

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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Cliff-side Villa - $10M In The Bank — With No Heirs. Who Should Get My Fortune?

I’m 79, Live In A Cliff-side Villa In California And Have $10M In The Bank — With No Heirs. Who Should Get My Fortune?

Christy Bieber  Tue, December 17, 2024   Moneywise

A 79-year-old in a villa with $10 million in the bank has a very large potential legacy to leave — but what if there's no obvious person to leave it to?

In His Situation, You Must Take Action.

You need to make an estate plan. Otherwise, default intestacy laws apply. These kick in when someone dies without a will. The law dictates who will inherit, starting with closest relatives and proceeding to more distant relations. However, if no relatives are found, the funds could go to the state.

So how to find a place to leave $10 million after you’re gone? It’s a good problem to have. Read on to find out some potential solutions.

Why wait until you die?

First things first: Remember you do not have to wait until you die to give money away.

Of course, you’ll want to make sure you have plenty of funds to live on and cover medical costs that could climb as you get older. However, $10 million plus a cliffside villa means you have more than enough to provide for yourself for the rest of your life.

Rather than waiting until you pass on, why not do something with that cash now? If you have the interest, time and desire, you could start a charitable foundation of your own. Or you could do things like arrange a scholarship fund with your alma mater, fund a project for a cause you care about, or do anything else you desire.

With a fortune as large as yours, you could contribute an endowment fund to a university, arts organization, research center or other institution. That would allow your investment to grow over time and continually be put back into the community in perpetuity.

Giving a gift to a charity now rather than after you die would allow you to see the benefits of your contributions in real time. That could be one of the best uses of your funds.

Read more: I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 3 of the easiest ways you can catch up (and fast)

Use The Right Estate Planning Tools

Whether or not you decide to give away some cash before you die, the fact remains that you're likely to still pass on with a lot of money left over. If that's the case, working with an estate planning lawyer to decide what to do with it is likely the best move.

TO READ MORE:  https://finance.yahoo.com/news/m-79-live-cliffside-villa-114400951.html