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Iraq Economic News and Points To Ponder Thursday Evening 10-31-24

Iraq Economic News and Points To Ponder Thursday Evening 10-30-24

Central Bank Governor: Qusay Saddam Seized $900 Million And Loaded It In Trucks In 2003

Posted on  2024-10-31 by sotaliraq   The Governor of the Central Bank, Ali Al-Alaq, said that the lessons are now sufficient for the state to move towards setting a “strict and conservative” oil price in the general budget, to avoid the pressure of declining crude prices,

calling for the enactment of a law that sets the size of spending with a specific oil ceiling to ensure its coverage on the one hand, and to ensure the financing of investment projects on the other hand, noting that the three-year budget needs some new tables and amendments in line with the variables of oil prices.

Iraq Economic News and Points To Ponder Thursday Evening 10-30-24

Central Bank Governor: Qusay Saddam Seized $900 Million And Loaded It In Trucks In 2003

Posted on  2024-10-31 by sotaliraq   The Governor of the Central Bank, Ali Al-Alaq, said that the lessons are now sufficient for the state to move towards setting a “strict and conservative” oil price in the general budget, to avoid the pressure of declining crude prices,

calling for the enactment of a law that sets the size of spending with a specific oil ceiling to ensure its coverage on the one hand, and to ensure the financing of investment projects on the other hand, noting that the three-year budget needs some new tables and amendments in line with the variables of oil prices.

Ali Al-Alaq, in a dialogue during the Merry Forum:

The role of the Central Bank cannot be reduced to the currency selling window and some marginal tasks. It is a fundamental pillar of economic and financial stability in the country. Here we must highlight a number of achievements since 2004 until today, the most important of which is maintaining the general price level, meaning the ability to manage the monetary mass in Iraq, in a way that does not lead to inflation or deflation.

After 2003, we inherited an abnormal situation devoid of any real basis for stability. Our reserves that year were $900 million, and they were seized by Qusay Saddam Hussein and loaded onto a truck. This is documented by dates and numbers.

 So we started from scratch. The money supply in circulation was only 4 trillion dinars. Today, the volume in circulation exceeds 100 trillion dinars, and our reserves have exceeded 100 billion dollars.

The inflation rate today is 3.8%, which is a typical rate that achieves stability and prosperity. It is an indicator of our ability to manage a monetary mass exceeding 104 trillion dinars, which does not allow pressure on purchasing power, and this is considered the most important factor in monetary and economic stability.

We have an additional mission, as we have to introduce all the tools, systems and entities that we have failed to catch up with the world with during the previous decades, and therefore there is a race against time to move towards the digital economy and advanced payment systems, as we have licensed 16 companies for electronic payment, and we are currently working on licensing digital banks, in addition to achieving advanced stages in establishing a national company for managing payments, and the Central Bank will be a partner in it to enhance it with sufficient support.

As for the reform dimension, we are currently working on two plans to reform government and private banks, which will lead to their restructuring in a way that ensures transparency, governance, and ownership structure in appropriate ways, to be consistent with international standards.

The last dimension of our work, which is not practiced by most central banks in the world, is that we work to stimulate the economy directly through lending initiatives to various sectors.

The volume of loans granted to the construction and industrial sectors has reached more than 13 trillion dinars, an amount that exceeds what has been lent throughout the history of the Iraqi state.

In addition, we have sought to launch initiatives to lend to small and micro-enterprises, and we have reached advanced stages of establishing a bank specialized in this initiative, and we have named it “Riyada” Bank.

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We noticed that the inflation rate in 2023 was 7.5%, as the volume of issued currency jumped from 40 trillion to 100 trillion dinars, meaning that it increased in two years by an amount equivalent to its increase in the previous 18 years, and therefore we decided to withdraw part of the cash liquidity by raising the interest rate and attracting trillions of dinars from the market, although this measure is costly, but the Central Bank does not base its policies on profit and loss, but rather on the basis of performing its main function of controlling the market.

The increase in public debt is a result of the budget deficit, which is the result of increasing spending without increasing revenue. Over time, spending has become inflexible and cannot be reduced, such as the salary bill and others, and this causes a structural imbalance in the Iraqi economy.

The idea of ​​the three-year budget is in effect in many countries of the world, and we decided to move towards it in order to ensure stable implementation, although it requires the issuance of some tables and amendments to address some variables, such as oil prices, for example.

The fiscal year will end and the oil price rate remains within our estimates in the budget, but the lessons have become sufficient for us to set a conservative oil price so that the state does not face economic pressure with the fluctuations of the global oil market.

Therefore, a law must be passed that sets the share of expenditures from oil revenues with a certain ceiling, in order to ensure that it is covered on the one hand, and to ensure that the financing of investment projects that are exposed to blows with every drop in oil prices is not disrupted in order to cover the expenditure ceiling.   LINK

Central Bank Governor Reveals Important Figures About Iraq's Economy And Foreign Reserves

Time: 2024/10/30  Read: 3,848 times    {Economic: Al Furat News} The Governor of the Central Bank of Iraq revealed important figures about the Iraqi economy and its foreign currency reserves.

Ali Al-Alaq said during his participation in the Middle East Forum 2024 (Miri) session in Erbil, that "the volume of currency issued in circulation is approaching 100 trillion dinars," indicating that "the foreign currency reserve exceeds 100 billion dollars."

He explained that "next year will witness major transformations in the restructuring of government and private banks."

He pointed out that "the growth rate of the money supply rose from 46 trillion to 100 trillion within two years," noting that "the external debt does not exceed 20 billion dollars." LINK

Al-Raqqa confirmed that "the inflation rate currently stands at 3.8%, which is a typical rate," revealing that "the Central Bank has granted a license to 16 electronic payment companies." 

Central Bank Governor Reveals Important Figures About Iraq's Economy And Foreign Reserves

Time: 2024/10/30 20:14:47 Read: 3,848 times

{Economic: Al Furat News} The Governor of the Central Bank of Iraq revealed important figures about the Iraqi economy and its foreign currency reserves.

Ali Al-Alaq said during his participation in the Middle East Forum 2024 (Miri) session in Erbil, that "the volume of currency issued in circulation is approaching 100 trillion dinars," indicating that "the foreign currency reserve exceeds 100 billion dollars."

He explained that "next year will witness major transformations in the restructuring of government and private banks."

He pointed out that "the growth rate of the money supply rose from 46 trillion to 100 trillion within two years," noting that "the external debt does not exceed 20 billion dollars."

Al-Raqqa confirmed that "the inflation rate currently stands at 3.8%, which is a typical rate," revealing that "the Central Bank has granted a license to 16 electronic payment companies."    LINK

The Iraqi Market Trades Shares Worth More Than 17 Billion Dinars In A Week

Thursday 31 October 2024 14:40 | Economic Number of readings: 126   Baghdad / NINA / The Iraq Stock Exchange announced that the value of shares traded during the five sessions it organized this week, which is about to end, amounted to more than 17 billion dinars.

According to the recorded indicators, the number of shares traded during this week amounted to more than 8 billion shares, with a value of more than (17) billion dinars.

The ISX60 market trading index closed for the first session of the week at (1000.26) points, while the index closed at the end of the week at (1044.30) points, achieving an increase of (4.22%) over its closing at the beginning of the session.

The ISX15 market trading index closed for the first session of the week at (1073.47) points, while the index closed at the end of the week at (1116.07) points, achieving an increase of (3.82%) over its closing at the beginning of the session.

During the week, (6550) buy and sell contracts were executed on the shares of companies listed on the market. / End7    https://ninanews.com/Website/News/Details?key=1165401

US Elections And Iraq.. Official Comment On The Shape Of The Upcoming Relationship With The New President

Time: 2024/10/31 Read: 1,950 times   {Politics: Al Furat News} Iraq does not hide its pursuit of a new phase of strategic relations with the United States of America, focusing more on politics, economics and energy, after having focused for many years on the security and military fields.

Positions in Iraq vary between the official position, which sees that relations are heading for the better, and the position of experts and observers who believe that the next administration, whether Republican or Democratic, will use the "principle of force" in its policy with Iraq.

Farhad Alaeddin, the Prime Minister's advisor for foreign relations, says: "Regardless of the outcome of the upcoming US elections, relations between Iraq and the United States will remain governed by the Strategic Framework Agreement, common interests, and cooperation in the areas of security, energy, economic investments, and cultural exchange."

He points to "the importance of Iraq as a center of stability in the region, for the role it plays in achieving regional balances and stability."

On October 27, Foreign Minister Fuad Hussein, while chairing the regular meeting of the Higher Coordination Committee for the Strategic Framework Agreement between Baghdad and Washington, stressed the importance of strengthening relations with America and moving towards a solid economic partnership.

Hussein stressed the need not to focus on military and security aspects only, but rather to expand cooperation to include economic, health, educational, and environmental fields.

Relations between Baghdad and Washington have focused over the past two decades on military, security and counter-terrorism aspects, due to the conditions that Iraq was experiencing, but they are seeking to expand them to include other areas.

Iraqi-American relations are subject to the Strategic Framework Agreement that Iraq signed with the United States in 2008, and the two sides began implementing its provisions in 2009. The agreement includes 11 articles covering the diplomatic, political, security, economic and cultural fields, and stipulates long-term relations between the two countries based on the principle of equality in sovereignty, rights and common interests.   LINK

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

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Seeds of Wisdom RV and Economic Updates Thursday Evening 10-31-24

Oct 31

Good Evening Dinar Recaps,

HEDERA WELCOMES NAIROBI SECURITIES EXCHANGE TO GOVERNING COUNCIL, ACCELERATING SECURITIES TOKENIZATION IN AFRICA



▪️The Nairobi Securities Exchange (NSE) has joined the Hedera Governing Council to advance tokenization in Kenya’s capital markets, a significant move for both the local economy and the broader African financial landscape.



▪️By joining the Hedera Council, the NSE will provide African investors with access to innovative digital assets and financial products.

Good Evening Dinar Recaps,

HEDERA WELCOMES NAIROBI SECURITIES EXCHANGE TO GOVERNING COUNCIL, ACCELERATING SECURITIES TOKENIZATION IN AFRICA

▪️The Nairobi Securities Exchange (NSE) has joined the Hedera Governing Council to advance tokenization in Kenya’s capital markets, a significant move for both the local economy and the broader African financial landscape.

▪️By joining the Hedera Council, the NSE will provide African investors with access to innovative digital assets and financial products.

Nairobi Securities Exchange (NSE), the best-performing market in Africa has joined the decentralized Hedera Governing Council, the organization behind Hedera Hashgraph, in a bid to expedite the adoption of tokenized securities within Kenya’s capital markets. As the 32nd member of the Hedera Council, the NSE joins a global network that includes companies like Google, IBM, and LG, which oversee Hedera’s governance.

According to the Morgan Stanley Capital International (MSCI) ranking, the NSE earned the title of Africa’s top-performing market in the first nine months of 2024. This displays the strong trust investors have in it. Furthermore, this reward showcases how the NSE is the cornerstone of prosperity to Kenya’s economic progress.

Here’s How Hedera Will Transform Digital Finance in Africa
As a key part of this alliance, the NSE brings digital and tokenized assets directly into the mainstream. For context, Tokenization is the process of converting real assets like stocks, bonds, and commodities into digital tokens on a blockchain. This collaboration also aims to modernize Africa’s financial markets by using Hedera’s advanced Distributed Ledger Technology (DLT). Hedera’s DLT allows multiple members to maintain their own identical copy of a shared ledger.

Through Hedera’s Hashgraph Consensus, created by Leemon Baird, co-founder and chief scientist of Hedera the NSE will have several benefits. This includes Secure, real-time, and low-cost payment settlement allowing users to transact using their preferred cryptocurrency. Additionally, it offers decentralized, scalable, and publicly verifiable data logs ensuring that all transactions and activities can be audited and verified without relying on a central authority.

The mechanism allows the network to achieve an impressive throughput of over 10,000 transactions per second. This is achieved by utilizing a unique algorithm that emphasizes speed and efficiency.

Hedera is continually expanding its ecosystem, offering a range of applications and developer tools. Recently, Hedera integrated LayerZero (ZRO)a technology that enables applications to move data across blockchains, into its network to enhance the Hedera Token Service (HTS). This will significantly boost the NSE’s offerings by making the exchange a hub for digital asset trading.

Bill Miller, Co-Chair of the Membership Committee for Hedera, highlighted in the report that the NSE possesses expertise and strong foundations in Africa. As one of the largest economies in Sub-Saharan Africa, Kenya offers an opportunity to accelerate the adoption of digital assets.

With a market capitalization of about $12.65 billion, daily transaction volumes exceeding $100 million, and 63 listed companies across 11 sectors, the NSE provides an ideal foundation for enhancing global capital markets.

Hedera’s advanced technology will enable the NSE to enhance global liquidity and improve access to financial services for African investors, while also strengthening its presence in the digital asset space.

@ Newshounds News™

Source:  Crypto News Flash

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U.S. TREASURY REPORT PROPOSES CBDC REPLACEMENT FOR PRIVATE STABLECOINS

The U.S. Treasury Department has recommended replacing private stablecoins with government-issued CBDCs, citing concerns about the $120 billion in Treasury bills held as stablecoin collateral and potential market risks.

▪️U.S. Treasury released report suggesting stablecoins should be replaced by CBDCs

▪️Treasury estimates $120B in T-bills bought by stablecoin issuers, with Tether holding $81B

▪️Report warns of potential “fire-sale” risk if major stablecoins collapse

▪️Over 80% of crypto transactions involve stablecoins, with USDT leading in trading volume

▪️Trump opposes CBDCs but his project World Liberty Financial plans to launch a stablecoin


The U.S. Treasury Department has called for the eventual replacement of private stablecoins with government-issued central bank digital currency (CBDC) in a detailed report released Wednesday.

The report highlights mounting concerns over the stablecoin market’s growing influence in the U.S. Treasury bills market.

According to the Treasury’s Office of Debt Management, stablecoin issuers now hold approximately $120 billion worth of Treasury bills as collateral.

Tether, the company behind the USDT stablecoin, accounts for $81 billion of these holdings, making it a major player in the T-bills market.

The 132-page report draws parallels between the current stablecoin landscape and the “wildcat” banking era of the 1800s, when private banks issued their own currencies.

The Treasury suggests that just as government-backed money replaced those private currencies, CBDCs should take over the role currently played by stablecoins in digital transactions.

Stablecoins have become essential to cryptocurrency markets, serving as a bridge between traditional and digital finance.

The Treasury estimates that these digital assets are involved in more than 80% of all crypto transactions. USDT, the largest stablecoin by market volume, processed $53 billion in trades within a 24-hour period.

The report expresses particular concern about the risk of stablecoin depegging events, where these digital currencies lose their intended one-to-one relationship with the U.S. dollar. Several such incidents have occurred in recent years, raising alarm bells about market stability.

The Treasury’s primary worry centers on the possibility of a “fire-sale” scenario. If a major stablecoin issuer like Tether were to face a crisis, it might need to quickly sell its T-bill holdings, potentially disrupting the broader Treasury securities market.

While stablecoin advocates argue that these products enhance dollar dominance by increasing demand for Treasury bills, the report indicates that the Treasury views this relationship differently.

The department suggests that the growing interconnection between stablecoins and traditional financial markets through T-bill holdings poses unnecessary risks.

The political landscape surrounding digital currencies has grown increasingly complex. Several Republican lawmakers have voiced opposition to CBDCs, labeling them as potential tools for government overreach.

Former President Donald Trump has been particularly vocal in his criticism, promising to block CBDC development if reelected.

However, the situation has additional layers of complexity. Trump’s own crypto project, World Liberty Financial, which recently raised $14 million, is reportedly developing a stablecoin.

This project’s team has promoted private stablecoins as a way to support T-bill purchases and strengthen dollar supremacy.

The Treasury report acknowledges that stablecoins currently represent a relatively small portion of the overall T-bills market. However, it warns that continued growth could increase the risk of market disruptions if stablecoin-related instability occurs.

The document provides detailed data about the current state of stablecoin holdings. Beyond Tether’s $81 billion position, other stablecoin issuers collectively hold tens of billions in Treasury securities as backing for their digital currencies.

The report examines various stablecoin failures and depegging events from recent years, using these incidents to support its argument for transitioning to CBDCs.

These examples serve as cautionary tales about the potential risks of allowing private digital currencies to become too deeply embedded in the financial system.

Trading volume statistics included in the report underscore the growing importance of stablecoins in crypto markets. The data shows that stablecoin trading volumes often exceed those of traditional cryptocurrencies like Bitcoin.

@ Newshounds News™

Source:  
Blockonomi

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🌱 KIM CLEMENTS SAW THE NEXT 2024 NOV. 2024  |  Youtube

@ Newshounds News™

Source:  
Seeds of Wisdom Team RV Currency Facts

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More News, Rumors and Opinions Thursday PM 10-31-2024

KTFA:

Clare:  Al-Sudani's advisor identifies 3 priorities for the Iraqi economy: We are working on a new approach

10/31/2024- Baghdad

The Prime Minister's Representative, Technical Advisor and Head of the Sovereign Loans Initiative, Mohammed Sahib Al-Daraji, confirmed today, Thursday, that the private sector is a fundamental pillar in the government's new economic plan, while pointing to the government's efforts to reduce the transfer of hard currency and support national projects.

Al-Daraji said in a speech during the first Iraqi Economic Forum that "the Iraqi government has begun taking real steps to support the Iraqi economy, as it has changed the philosophy of the economy that suffered from a lack of clarity in the economic vision for more than twenty years."

KTFA:

Clare:  Al-Sudani's advisor identifies 3 priorities for the Iraqi economy: We are working on a new approach

10/31/2024- Baghdad

The Prime Minister's Representative, Technical Advisor and Head of the Sovereign Loans Initiative, Mohammed Sahib Al-Daraji, confirmed today, Thursday, that the private sector is a fundamental pillar in the government's new economic plan, while pointing to the government's efforts to reduce the transfer of hard currency and support national projects.

Al-Daraji said in a speech during the first Iraqi Economic Forum that "the Iraqi government has begun taking real steps to support the Iraqi economy, as it has changed the philosophy of the economy that suffered from a lack of clarity in the economic vision for more than twenty years."

He pointed out that "the government is working on a new approach that considers the private sector a fundamental pillar and seeks to integrate its outputs into the national product," noting that "the government provides special support to the investment and business environment sectors, as it seeks to separate direct investment and provide an appropriate environment for the private sector to participate in projects. The government also encourages partnerships with foreign companies to demonstrate developments in the customs and tax system, such as unifying taxes and customs tariffs across regions, and exempting foreign companies from some special taxes."

He pointed out that "Iraq has begun to guarantee the private sector before international financial institutions through the Sovereign Guarantees Initiative, and has moved towards establishing an international market for carbon bonds to support project financing."

He pointed out the "three priorities of the Iraqi economy: localizing industries, integrating with global financial institutions, and developing competencies for the public and private sectors," adding that "the Iraqi market is open to global companies, especially in the construction and clean energy sectors, and that there is a trend to support the private sector through new legislation such as laws to protect intellectual property and partnerships between the public and private sectors."

He added, "The government supports the economy based on partnership with the private sector, with a focus on reducing the transfer of hard currency abroad.

He expressed his "hope that these conferences will produce outcomes that support the current government's orientations, which is the most attentive to the private sector and the most involved in decisions," noting "the presence of representatives from the private sector on the Development Fund's Board of Directors and within the Prime Minister's official delegations as a message of support for businessmen."   LINK

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

Clare:  Al-Mashhadani is the new speaker of the Iraqi parliament

10/31/2024

Al-Mashhadani is the new speaker of the Iraqi parliament   LINK

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Clare:  It aims to provide 25 electronic services.. Learn about the details of the (Baghdadna) platform

10/31/2024 Baghdad

Israa Al-Jawrani, Digital Media Officer at the E-Governance and Communications Committee of the Baghdad Provincial Council, explained the details of the (Baghdadna) platform, noting that it aims to provide more than 25 electronic services.

Al-Jawrani said in a statement received by "Al-Eqtisad News", "The (Baghdadna) platform is the first of the future projects and plans in digital transformation and communications technology launched by the Governance and Communications Committee in the Baghdad Provincial Council, which aims to provide more than 25 electronic services to citizens via smart devices, which can be increased in all fields and sectors, including health, education, water and electricity, in addition to afforestation."

She added: “One of the priorities of the Baghdadna platform is how to deliver its use to residents of the outskirts of the capital, and then to the city center. After that, specialized volunteer teams will be formed in this field to teach how to educate citizens and use the platform, in addition to it including a service dedicated to the affected segments and groups in Iraqi society.”

Regarding other services that will be provided to the Baghdadi citizen through the platform, Al-Jourani said, “The near future will witness the launch of many services after completing 85% of the platform’s overall implementation.”

Regarding the mechanism of this platform’s dealing with regulations, wages, and financial collection, Al-Jourani indicated that “there will be a supervisory role over all government institutions and departments linked to the Baghdad Provincial Council, which will be obligated to implement and apply all decisions and services of the platform.”   LINK

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

Mnt Goat  There is NOT going to any “big lines” or celebrations in Iraq when they revalue in country. The only thing that will happen is that they will go on with life and know they have more purchasing power, but only after the reinstatement  happens...They are catching up to the rest of the developed world. Also, you must remember too that the government along with the CBI is constantly now telling the citizens they are going to raise the value of the dinar to the “glory days” of the dinar. [Post 1 of 2....stay tuned]

Mnt Goat   ...the CBI is now also broadcasting the videos they produced by the committee, in which my CBI contact told me earlier this year, were being produced and ready for showing, but back then we were told – not yet. Now they are being shown to the public. Yes, it is time and so yet another clue things are close...If you talk to almost any citizens now in Iraq, they will tell you that they expect this event to happen soon.    [Post 2 of 2]

Or the price on the budget will go for $70-$40 To work with the budget

Nader:  10-31-2024

https://www.youtube.com/watch?v=WOn41kXdf0w

Countries That Have Revalued or Adjusted Their Currency - IQD Compared

Edu Matrix:  10-31-2024

Countries That Have Revalued or Adjusted Their Currency - IQD Compared Case Studies of Currency Adjustments that have taken less than ten years.

Why Iraq is going on a 20-year wait, and how Vietnam is on a 50-year wait timeframe. How investors have used the "buy and hold" investment strategy to make huge profits in exotic currencies.

https://www.youtube.com/watch?v=14hzNw1RZKE

 

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Seeds of Wisdom RV and Economic Updates Thursday Afternoon 10-31-24

Good Afternoon Dinar Recaps,

US TREASURY DISCUSSES THE TOKENIZATION OF TREASURIES



During Tuesday’s meeting of the US Treasury’s Borrowing Advisory Committee, the members explored the topic of tokenizing US Treasuries. It discussed the impact of stablecoins on the demand for short term Treasuries, concluding that the effect is marginal.

The presentation covered the use of tokenized Treasuries as a safe haven in the digital asset sector. And finally, it focused on how blockchain and tokenization could improve Treasury market operations, including the benefits, costs and risks.

Good Afternoon Dinar Recaps,

US TREASURY DISCUSSES THE TOKENIZATION OF TREASURIES

During Tuesday’s meeting of the US Treasury’s Borrowing Advisory Committee, the members explored the topic of tokenizing US Treasuries. It discussed the impact of stablecoins on the demand for short term Treasuries, concluding that the effect is marginal.

The presentation covered the use of tokenized Treasuries as a safe haven in the digital asset sector. And finally, it focused on how blockchain and tokenization could improve Treasury market operations, including the benefits, costs and risks.

Stablecoins
Our calculations show the combined US Treasury and repo holdings of the two largest stablecoins, Tether and USDC as $120 billion in June 2024
. Putting them on a list of the largest foreign country investors would rank them (combined) in the eighteenth spot. Yet given the total size of Treasury issuance, the figure is indeed marginal.

However, the presentation raised the concern that a collapse of a “major stablecoin like Tether could lead to a fire sale of short-dated Treasuries.”

Some other comments on the stablecoin front might be viewed as controversial by the crypto sector.

For example, it states “In a similar manner to how privately-issued ‘wildcat’ currencies were replaced by government-backed central currencies in the late-1800s, Central Bank Digital Currencies (CBDC) will likely need to replace stablecoins as the primary form of digital currency underpinning tokenized transactions.”

It also notes that “History shows that ‘private currency’ that does not meet NQA requirements leads to financial instability and as such is highly undesirable.”

 NQA refers to no questions asked, in the sense that the recipient should not need to perform due diligence before receiving a stablecoin. Both quotes referenced a paper, “Taming Wildcat Stablecoins.”

The importance of intraday for tokenized Treasuries?
When discussing the potential for tokenizing Treasuries, there were some curiosities. Firstly, the presentation outlined the potential benefits, which include:

▪️Improvements in clearing and settlement
▪️Improved collateral management
▪️Improved transparency and accountability
▪️Composability and innovation
▪️Increased inclusion and demand? (fractionalization)
▪️Increased liquidity? (including 24/7)


While ‘intraday’ repo was mentioned in a description of JP Morgan’s repo platform, it was not explicitly covered in the list of advantages. Of course, the enablement of intraday transactions is a direct side effect of improvements in clearing, settlement and collateral management that were mentioned.

Intraday allows banks to use repo to borrow and lend for an hour or two, rather than having to wait for T+1 settlement. Repurchase agreements (repo) involve the temporary transfer of securities in exchange for cash, with the transaction reversed a short while later, plus a small amount of interest. 

We’re emphasizing the point because the importance of intraday to traditional financial institutions may be underappreciated in government circles. In a recent speech by Federal Reserve Governor Waller, he emphasized the potential for 24/7 repo. Yet within the industry, intraday is considered far more important than the ability to trade 24/7.

Treasuries and tokenization platforms
A list of tokenization platforms were presented, including JP Morgan’s intraday repo platform. However, there was no mention of Broadridge’s Distributed Ledger Repo (DLR). If someone asked Ledger Insights to state the most important platform in Treasury tokenization right now, it would be Broadridge’s DLR.

The total amount of tokenized Treasury funds on public blockchain is around $2 billion. DLR is used for $1 – $1.4 trillion in transactions per month, whereas JP Morgan’s platform has processed roughly $1.5 trillion since its launch in 2020. One would not expect JP Morgan’s solution to be of the same scale as DLR since it purely serves JP Morgan clients.

DLR has several purposes, with intraday repo as the main oneIt also supports sponsored repo via the DTCC’s FICC platform. DLR and JP Morgan’s repo platform already achieve many of the advantages explored during the presentation. However, today they are tiny compared to the scale of the Treasury market.

The conclusion was that a tokenized Treasury platform would ideally be on a private permissioned blockchain managed by a trusted government authority.

@ Newshounds News™

Source:  Ledger Insights

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Pound Sterling Suffers Biggest Drop in 18 Months Amid Reeves' Tax-and-Spend Storm

Following the latest budget reveal, the pound sterling has taken a sharp tumble, fueled by mounting worries about the U.K.’s fiscal outlook. Chancellor Rachel Reeves’ decision to pump £70 billion into government spending—funded through additional borrowing—has stirred up significant unease among investors. They’re concerned this move could lead to higher inflation and escalating interest rates.

@ Newshounds News™

Read more:  Bitcoin News    

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FRANKLIN TEMPLETON LAUNCHES TOKENIZED MONEY FUND ON BASE

Franklin Templeton says this is the first tokenized money fund to launch on Coinbase's layer-2 network.

Franklin Templeton is launching its tokenized money fund on Base, Coinbase’s layer-2 network, the asset manager said on Oct. 31.

The Franklin OnChain US Government Money Fund (FOBXX) is the first tokenized fund to launch on Base, Franklin Templeton said in a post on the X platform.

Created in 2021, FOBXX has previously launched on blockchain networks including Stellar, Polygon, and Arbitrum.

Franklin Templeton is unique among tokenized fund managers in outsourcing a meaningful portion of reporting requirements — such as share ownership records typically handled by an off-chain transfer agent — to blockchain networks’ public ledgers.

“We are currently the only product with the ability to use public distributed ledger technologies for official transaction record-keeping,” Roger Bayston, Franklin Templeton’s head of digital assets told Cointelegraph in July.

The launch of FOBXX on Base indicates United States regulators consider Base’s public ledger to be a legitimate instrument for financial recordkeeping.

Franklin Templeton’s FOBXX currently has net assets of approximately $435 million and has been generating annualized returns of about 4.7% as of October 2024.

It is accessible through Franklin Templeton’s Benji Investments platform
.

The Base launch marks Franklin Templeton’s latest effort to enhance the accessibility of its tokenized real-world assets (RWAs).

Since its 2023 launch, Base has emerged as Ethereum’s second most popular layer-2 scaling solution, with a total value locked (TVL) of approximately $8 billion, according to L2Beat.

Arbitrum leads with upwards of $13 billion in TVL, the data shows.

Tokenized RWAs — from money funds to artworks — represent a $30-trillion market opportunity globally, Colin Butler, Polygon’s global head of institutional capital, told Cointelegraph in August.

Demand is surging for products that tokenize T-bills and other highly liquid yield-bearing assets.

FOBXX’s top rival is BlackRock USD Institutional Digital Liquidity Fund (BUIDL), with assets under management (AUM) of approximately $530 million, according to data from RWA.xyz.

@ Newshounds News™

Source:  
CoinTelegraph

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Advice, Personal Finance DINARRECAPS8 Advice, Personal Finance DINARRECAPS8

How The Rich Stay Rich: The 8 Best Ways To Preserve Your Wealth

How The Rich Stay Rich: The 8 Best Ways To Preserve Your Wealth

Rachel Christian  Thu, October 31, 2024  BANKRATE

The ultra-wealthy have a knack for not just getting rich but also staying rich. Many wealthy people start out with a lot more money than the average person, but growing and protecting their money over time can be a challenge. To do this, they often make use of a number of wealth preservation strategies.

You don’t have to already be rich to benefit from these strategies, though. Anyone looking to boost their net worth and make their money last can apply these practices to their own financial situation.

How To Stay Rich: 8 Ways To Preserve Your Wealth

How The Rich Stay Rich: The 8 Best Ways To Preserve Your Wealth

Rachel Christian  Thu, October 31, 2024  BANKRATE

The ultra-wealthy have a knack for not just getting rich but also staying rich. Many wealthy people start out with a lot more money than the average person, but growing and protecting their money over time can be a challenge. To do this, they often make use of a number of wealth preservation strategies.

You don’t have to already be rich to benefit from these strategies, though. Anyone looking to boost their net worth and make their money last can apply these practices to their own financial situation.

How To Stay Rich: 8 Ways To Preserve Your Wealth

Wealth preservation isn’t just about saving money. It’s about making thoughtful, long-term decisions that help secure your finances for today and tomorrow.One of the foundational steps to preserving wealth is to develop a comprehensive financial plan. This financial road map should include your long-term goals and overall strategy for managing income, expenses, investments, debt and taxes.

Wealthy people regularly review and update their financial plans, especially after major life events, like a marriage or the birth of a child, to keep their finances on track.

What You Can Do

You can create a simple financial plan by following a few basic steps:

List out your goals: Start by identifying your financial goals, whether that’s saving up to buy a home or investing for retirement. Your plan should then align with those goals and their timelines.

Create a budget to reach your goals: Construct a detailed monthly budget that outlines your income and expenses. By understanding where your money goes, you can make conscious spending choices, save more and accelerate your progress toward your goals. You can refer to Bankrate’s guide on how to create a monthly household budget to help you get started.

Build an emergency fund: Allocate a specific amount within your budget to build an emergency fund if you don’t have one already. Most financial experts recommend saving three to six months’ worth of living expenses.

Invest for the future: Explore different types of investment accounts, such as retirement plans, 529 accounts and taxable brokerage accounts. Earmark a percentage of your take-home pay to investments so that your money grows over time.

Revise your plan: As your life evolves, so should your financial plan. Be prepared to regularly review it and make adjustments as needed.

For more advanced planning, consider speaking with a financial advisor, who can help tailor your plan to your specific needs.

TO READ MORE: https://www.yahoo.com/finance/news/rich-stay-rich-8-best-110000119.html

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MarkZ, Chats and Rumors Dinar Recaps 20 MarkZ, Chats and Rumors Dinar Recaps 20

“Coffee With MarkZ” Thursday Morning Chat 10-31-2024

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:   Happy Halloween everyone

Member: We have had enough tricks…..let’s see some RV treats!

Member: Bankers in Iraq have opened exchange centers. To exchange cash dinar for electronic dinar.

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:   Happy Halloween everyone

Member: We have had enough tricks…..let’s see some RV treats!

Member: Bankers in Iraq have opened exchange centers. To exchange cash dinar for electronic dinar.

MZ: There are some pure gold articles out of Iraq today…even the selection for speaker of the house is supposed to happen today.

Member: I heard that session started at 1pm Iraq time

MZ: “ Hours before the session Sovereignty settles his position and “satisfied” Mushadanl as speaker of Parliament”  there is a few more rubber stamps to finish…..but we have a new speaker of parliament that has been agreed too. This is a big development in Iraq .

MZ: “The Governor of the Central Bank reveals important figures on Iraq’s economy and foreign reserves” They go into how much currency in circulation today and how much before it was devalued ..  Revenues are up massively and they can afford an increase in the valuation. Their financial position is beyond strong. This is a fantastic article and MilitiaMan did a good video on it this morning.

MZ: “Calls for establishment of a digital gold market in Iraq” ….another big one. They can convert gold to digital……there is a physical amount representing it….but you can exchange for bullion if you want…..Part of the I-dinar in Iraq. I am excited….They are headed for

Member: Other intel people think it’s happening any minute now.

MZ: Bond are starting to see some excitement again.

Member: I hope bonds are getting paid and not just punted to next week again

MZ: Some really cool bond paperwork hitting bond holders yesterday. My big whale that was supposedly fully liquid yesterday is still MIA. Most of my contacts are still expecting their payments between the 2nd and 9th of Nov.  

MZ: But, a number of facilitators are hearing they could get their 1% payment before the 2nd. I am very excited about the news overnight and early this morning.

Member: Do we need to wait until all new rules and regulations that Goldilocks mentioned are passed and become a law?

Member: What does your gut say Mark?

MZ: I sure hope I’m right this time – but my gut is screaming that under the distraction of this election that the whole world is watching- they are going to pull the trigger…..That’s what my gut is saying…

Meber: Remember Sunday Nov 3rd to turn your clocks back one hour. An extra hour of sleep…woohoo

Member: Happy Halloween and may all the kids have a safe & good time tonight

Member: Wishing you all the greatest of hopes and fulfilled blessings

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! MAY OR MAY NOT BE EVENING NEWS @ 7:00 PM EST

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

Youtube:     https://www.youtube.com/watch?v=lxZo2FXTt9c

 

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Militiaman, News Dinar Recaps 20 Militiaman, News Dinar Recaps 20

MilitiaMan & Crew News Report-Central Bank Governor of Iraq-Monetary Stability Directly Stimulating the Economy

MilitiaMan & Crew News Report-Central Bank Governor of Iraq-Monetary Stability Directly Stimulating the Economy

10-31-2024

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

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

MilitiaMan & Crew News Report-Central Bank Governor of Iraq-Monetary Stability Directly Stimulating the Economy

10-31-2024

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=lVyzn37EDO4

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Economics, News Dinar Recaps 20 Economics, News Dinar Recaps 20

“Tidbits From TNT” Thursday 10-31-2024

TNT:

Tishwash:  The private sector has begun a new phase

Dr. Murtadha Al-Khafaji, a member of the Iraqi Businessmen Union, stated that the Iraqi private sector has begun a new phase that is different from the previous one, and it has become possible to rely on its capabilities to implement projects.

Al-Khafaji said: The projects implemented by the Iraqi private sector indicate the potential of local effort, which has become comparable to global effort, as local capabilities have been developed during the last decade. He added that Iraqi human resources have gained a lot of experience, through interaction with global expertise, which has worked in more than one economic aspect. He pointed out that national companies must occupy the appropriate place within the local labor market.  link

TNT:

Tishwash:  The private sector has begun a new phase

Dr. Murtadha Al-Khafaji, a member of the Iraqi Businessmen Union, stated that the Iraqi private sector has begun a new phase that is different from the previous one, and it has become possible to rely on its capabilities to implement projects.

Al-Khafaji said: The projects implemented by the Iraqi private sector indicate the potential of local effort, which has become comparable to global effort, as local capabilities have been developed during the last decade. He added that Iraqi human resources have gained a lot of experience, through interaction with global expertise, which has worked in more than one economic aspect. He pointed out that national companies must occupy the appropriate place within the local labor market.  link

Tishwash:  Call to establish a digital gold market in Iraq

The economic and financial expert, Dr. Saif Al-Halfi, called for the establishment of a digital gold market in Iraq, the establishment of which requires cooperation between the Central Bank of Iraq, the Securities Commission, and the Iraq Stock Exchange, as it provides Iraqi investors with the opportunity to participate in the global gold market, which attracts additional investments to Iraq, and also enhances cooperation between the Iraqi banking system and international financial institutions.

Al-Halfi said that the Central Bank can issue digital gold bullion in different weights: 1 gram, 10 grams, 100 grams, approved by the government. These digital bullion can be traded on the Iraq Stock Exchange in the same way that stocks or bonds are traded, and through the market’s financial intermediaries system, where investors can buy bullion using local currencies or convert them into foreign currencies. 

He added that the market can be linked to global gold prices and currency exchange rates, which enhances transparency and interaction with the global market. A platform similar to the Forex markets can also be used to trade digital gold inside Iraq in the Iraq Stock Exchange, noting that gold prices will be determined according to global exchange rates for gold and foreign currencies. This will allow investors the opportunity to speculate on gold price fluctuations and link them to changes in global currency prices, which increases profit opportunities and creates many job opportunities.

Regarding the economic benefits, Al-Halfi said: Through this market, liquidity is withdrawn from the banking system, and the digital gold market can act as a tool to withdraw cash liquidity. Instead of keeping money in banks, investors may prefer to buy digital gold, which is a safe asset that maintains its value, protects the investor’s money from high inflation rates, reduces the money supply, which is the goal, and limits inflation.

He pointed out that the digital gold market contributes to diversifying the Iraqi economy, away from the traditional reliance on oil. The market can be a platform to encourage financial innovation and develop new investment tools, especially exploiting the opportunities of the Faw Port entering operation next year, and what it provides in terms of a large base for investors, especially individuals and companies, as well as the goal we seek on the path of development.

He pointed out that establishing a digital gold market requires a strong technical infrastructure, including secure electronic platforms and clear regulatory laws to protect investors’ rights. This will increase job opportunities, the ability to diversify and innovate, and the emergence of a start-up culture.

Al-Halfi explained that the digital gold markets aim to enhance transparency and ease in gold trading, and provide investors with a real opportunity to work, trade and speculate on gold prices without the need to own actual gold. When the investor wants to convert gold into bullion or jewelry, these foundations allow him to convert digital gold into bullion while paying mining and crafting fees. All of these products create real and comprehensive investment business opportunities, which creates and enhances a flexible and innovative investment environment in Iraq. 

Gold is one of the financial assets that has always been a safe haven for investors, especially in times of economic, political and regional turmoil. Here, with the global digital and financial development, new markets have emerged for digital gold trading, where gold can be easily bought and sold through electronic platforms. In light of these developments, it is possible to create a market for digital gold trading in Iraq, especially with the government’s trend towards establishing digital banks and strengthening electronic payment systems, especially the use of electronic payment cards.  link

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

Prime Minister's Advisor: Iraq is moving towards strengthening partnership with foreign companies and stimulating investment

The Prime Minister's Representative, Technical Advisor and Head of the Sovereign Loans Initiative, Mohammed Sahib Al-Daraji, confirmed today, Thursday, that the private sector is a fundamental pillar in the government's new economic plan, while pointing to the government's efforts to reduce the transfer of hard currency and support national projects.

Al-Daraji conveyed, in his speech during the first Iraqi Economic Forum, which was attended by the correspondent of the Iraqi News Agency (INA), "the greetings of Prime Minister Mohammed Shia al-Sudani and his support for this conference," explaining that "the Iraqi government has begun taking real steps to support the Iraqi economy, as it has changed the philosophy of the economy that suffered from a lack of clarity in the economic vision for more than twenty years."

He pointed out that "the government is working on a new approach that considers the private sector a fundamental pillar and seeks to integrate its outputs into the national product," noting that "the government provides special support to the investment and business environment sectors, as it seeks to separate direct investment and provide an appropriate environment for the private sector to participate in projects. The government also encourages partnerships with foreign companies to demonstrate developments in the customs and tax system, such as unifying taxes and customs tariffs across regions, and exempting foreign companies from some special taxes."

He pointed out that "Iraq has begun to guarantee the private sector before international financial institutions through the Sovereign Guarantees Initiative, and has moved towards establishing an international market for carbon bonds to support project financing."

He pointed out the "three priorities of the Iraqi economy: localizing industries, integrating with global financial institutions, and developing competencies for the public and private sectors," adding that "the Iraqi market is open to global companies, especially in the construction and clean energy sectors, and that there is a trend to support the private sector through new legislation such as laws to protect intellectual property and partnerships between the public and private sectors."

He added, "The government supports the economy based on partnership with the private sector, with a focus on reducing the transfer of hard currency abroad.

He expressed his "hope that these conferences will produce outcomes that support the current government's orientations, which is the most attentive to the private sector and the most involved in decisions," noting "the presence of representatives from the private sector on the Development Fund's Board of Directors and within the Prime Minister's official delegations as a message of support for businessmen  link

Mot.. ""Opal"" Loves October - cause ~~

Mot:  . He Knew She Knew - that He Knew She Knew - so He .....

Mot:  ... You Can Use Him fer 2 Months or More!!! 

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News DINARRECAPS8 News DINARRECAPS8

Iraq Economic News and Points To Ponder Thursday AM 10-31-24

The Arab Accounting Dinar: A Strategic Tool For Arab Economic Integration

 October 30, 2024 Last updated: October 30, 2024 

  Hussein Al-Falluji*   In light of the growing economic challenges facing Arab countries,   the role of the Arab Accounting Dinar is emerging as an important strategic tool that may contribute to enhancing economic integration and providing effective solutions to common Arab problems.

 Perhaps many followers of Arab affairs are unaware of the existence of the Arab Accounting Dinar,  this important economic tool that can play a vital role in promoting economic integration and providing effective solutions to common problems among Arab countries.

The Arab Accounting Dinar: A Strategic Tool For Arab Economic Integration

 October 30, 2024 Last updated: October 30, 2024 

  Hussein Al-Falluji*   In light of the growing economic challenges facing Arab countries,   the role of the Arab Accounting Dinar is emerging as an important strategic tool that may contribute to enhancing economic integration and providing effective solutions to common Arab problems.

 Perhaps many followers of Arab affairs are unaware of the existence of the Arab Accounting Dinar,  this important economic tool that can play a vital role in promoting economic integration and providing effective solutions to common problems among Arab countries.

Some people wonder about the reasons for not activating this vital project optimally, despite the great opportunities it provides for achieving financial stability and economic prosperity.

The Arab Monetary Fund relies on the Arab Accounting Dinar as the official base currency, which differs from the currencies circulating in Arab and international markets.

 The arithmetic exchange rate of the Arab dinar was fixed at the equivalent of three units of Special Drawing Rights specified by the International Monetary Fund.

 Special Drawing Rights are an international reserve asset created by the International Monetary Fund in 1969 to supplement the official reserves of member states.

 The value of these rights is determined based on a basket of five major international currencies: the Chinese yuan, the US dollar, the European euro, the Japanese yen, and the British pound.

 This link to a basket of strong currencies gives the Arab Accounting Dinar relative stability and reduces the risk of global exchange rate fluctuations, enhancing confidence in it as an instrument of financial exchange.

The use of the Arab Accounting Dinar can contribute to facilitating commercial and financial operations between Arab countries, as

 it provides a common monetary unit for settling transactions, which may reduce currency conversion costs and increase the efficiency of financial systems.

This unification helps promote intra-regional trade, opens new horizons for economic cooperation, and stimulates growth by expanding markets and facilitating the movement of goods and services.

 In addition, the Arab Accounting Dinar represents a step towards greater financial independence for Arab countries.

 By reducing dependence on foreign currencies, Arab countries can better control their monetary policies and mitigate the negative effects of global economic fluctuations.

This enhances the ability to plan financial and investment with greater confidence, supporting sustainable development and investment in vital projects and infrastructure.

 The widespread use of the Arab Accounting Dinar may also open new opportunities for joint investment among Arab countries.

 It facilitates the financing of major regional projects and enhances cooperation between Arab financial institutions.

By providing a stable and unified financial environment, Arab countries can coordinate their financial and investment policies, which enhances the competitiveness of Arab economies at the international level.

 Moreover, the Arab Accounting Dinar reflects a collective commitment by Arab countries to achieving integration and unity.

It is not just an economic tool, but a symbol of cooperation and solidarity in facing common challenges.

 This commitment strengthens confidence among member states and paves the way for further cooperation in other areas such as education, health and culture.

 Although there may be challenges to promoting the use of the ABD, such as the need to modernize financial infrastructure and coordinate monetary policy, the potential benefits make it an essential investment for the future.

Political will and joint cooperation are the basis for achieving success in this endeavor and overcoming obstacles to achieve the desired economic integration.

 In conclusion: Activating and adopting the Arab Accounting Dinar represents a real opportunity for Arab countries to enhance economic integration and achieve common prosperity.

By expanding the use of this unit of account and activating the proposals supporting it, Arab countries can build a more stable and prosperous future for their people, based on economic cooperation, solidarity and unity.

 * Independent politician  

 https://www.xe.com/currencyconverter/convert/?Amount=1&From=XDR&To=USD

 1.00 IMF Special Drawing Rights = 1.3302209 US Dollars

1 USD = 0.751755 XDR

https://mustaqila.com/الدينار-العربي-الحسابي/     

The Unfair Decision Of The Central Bank Of Iraq To Reduce Interest Rates For Banks And Issue Securities

Shawan Zangana  2024-10-30 - The Central Bank of Iraq decided, Thursday 10/24/2024, to reduce the annual interest rate between it and the banks registered with it from 7.5% to 5.5%, and to reactivate the work with securities (Islamic certificate of deposit and cash transfers) between it and the banks operating in Iraq, with an annual return of 4% for 14 days, and an annual return of 5.5% for 182 days.

Note that the maximum investment ceiling was set not to exceed 50% of the total private sector deposits with the bank, and that the bank’s investment ceiling in one auction should not exceed (500) billion Iraqi dinars.

What does this decision mean?

The following is understood from this decision:

 1- The Central Bank reduced the interest rate on lending to banks operating in Iraq by 2%, and attributed this to its desire to stimulate local investment, direct liquidity towards alternative investments, develop the national economy, and create stability.

 The Central Bank deliberately forgot to point out that this reduction in the interest rate is for the benefit of the banks, and not for the benefit of companies and individuals, as the banks do not, based on the Central Bank reducing the interest rate in their favor, reduce the interest rates on lending to companies and individuals by the same percentage, so that This support includes them, and liquidity is transferred to development and investment destinations.

 Therefore, it clearly appears that the goal of the central bank is to provide liquidity to some banks, and not to citizens, so that these banks can lend to the influential class around them and smuggle currencies abroad.

 This procedure will provide banks and financial institutions working with the Central Bank of Iraq with great liquidity to practice interest trade (carry trade), as

these banks will be able to employ the funds borrowed from the Central Bank, at a low interest rate, by depositing them with international financial institutions, in exchange for annual returns, and at high interest rates. (For example, Turkish banks pay annual interest of up to 50% on deposits), and

thus, these banks will reap huge profits, and with the money of the Iraqi people stored in the Central Bank, Without using their own financial assets, these banks will also seek to employ the funds borrowed from the central bank in speculation in global markets and stock exchanges, with the aim of reaping quick and abundant profits.

 This investment of central bank funds by banks will inevitably harm the Iraqi economy, which suffers from structural dysfunction and chronic fragility, not to mention that this investment of money is forbidden by Sharia, which is, at the same time, a door to usury, not because of interest, but because of trafficking. With it.

2- The Central Bank has issued securities, in the form of Islamic certificates of deposit and cash transfers, with fixed and specified returns and terms, and attributed this to its endeavor to provide a window for banks under US Treasury sanctions, which are unable to deal in dollars, and have large cash liquidity in Iraqi dinars.

To invest the surplus local cash it has with the Central Bank, through its possession of Islamic certificates of deposit and cash transfers, in order to reap lucrative financial returns, while

 it was necessary to The Central Bank is to punish these banks for their legal and ethical violations, and not reward them with financial returns from public funds and from citizens’ rights.

3- Government borrowing through the issuance of sovereign bonds is considered one of the central bank’s monetary policy tools, but at the same time it indicates that the Ministry of Finance is suffering from a shortage of cash liquidity in the local currency, and this leads us to the following question:

 Why is the Ministry of Finance suffering from A shortage in the monetary supply in the local currency, despite the cash issuance that exceeded 100 trillion Iraqi dinars?

 The answer may be that there is a large monetary mass in the local currency outside the banking system, and that a portion of it is circulated at home and abroad for the purposes of financing smuggling operations.

Implications Of This Decision

This decision will have the following effects:

 1- The decision will lead to an increase in the exchange rate of the dinar towards the dollar and other currencies, but temporarily, as the demand for the Iraqi dinar will increase, and

this will cause an increase in its exchange rate, but it will soon move towards a decline towards the dollar, as a result of operations to exchange it for the dollar, for the purposes of smuggling or employment. External cash.

 2- This decision will provide large liquidity to banks and financial institutions, which will be exploited to carry out financial transactions outside the development process, with the aim of reaping huge and quick profits.

 The Iraqi economy will be exposed to serious damage, as a result of wasting its money and using it by an influential faction to achieve its own interests at the expense of the people, in When the central bank was supposed to reduce the interest rate, on the condition of implementing development projects, and allowing banks to borrow from it, within the scope of the files that individuals and companies submit to local banks, in order to prevent these banks from exploiting these funds for their own interests, outside the development process.

 3- This decision, in this form, is a waste of public money, a violation of the rights of citizens, and an economic crime, punishable by law. The Central Bank of Iraq should avoid such decisions, which are economically harmful and forbidden by Sharia.

 4- This decision, and similar decisions taken by the Central Bank, have caused, and are causing, the deepening of the imbalance and fragility in the Iraqi economy and its monetary policy, and the prolongation of monetary fluctuation and instability.

 Conclusion

It appears that the decision to reduce the interest rate was taken and designed in accordance with what the interests of the ruling class over money in Iraq require, and not in accordance with the interests of national development and the future of the rentier Iraqi economy, which needs financing to diversify its sources of income.

 It also appears that the securities are designed to achieve the interests of the sanctioned banks. By the US Treasury, while it was supposed to punish her and cancel her vacations, instead of rewarding her by providing her with lucrative profits from the central bank.

 I warn the Central Bank of Iraq against making decisions that harm the currency and deepen its wounds, and

 I call on it to conduct an orthodox policy that is consistent with the principles of economics and monetary policy, and to avoid formulating policies or making decisions that contribute to achieving the interests of powerful fragmentation in the country and abroad.    https://shafaq.com/ar/مقـالات/قرار-البنك-المركزي-العراقي-الجا-ر-بخفض-سعر-الفا-دة-للمصارف-و-صدار-ال-وراق-المالية    

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

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Economics, Gold and Silver, News DINARRECAPS8 Economics, Gold and Silver, News DINARRECAPS8

Seeds of Wisdom RV and Economic Updates Thursday Morning 10-31-24

Good Morning Dinar Recaps,

SOME EU STATES UNHAPPY WITH ECB CONTROLLING DIGITAL EURO LIMITS – REPORT



Politico reported that some European states, including Germany, France, the Netherlands and six other countries, are concerned about the European Central Bank (ECB) having the right to specify holding limits for the digital euro central bank digital currency (CBDC).


A concern is that the ECB could set the wallet limits too high, resulting in deposits flowing out of banks. One diplomat called it a “battle for power” between central banks and politicians

Good Morning Dinar Recaps,

SOME EU STATES UNHAPPY WITH ECB CONTROLLING DIGITAL EURO LIMITS – REPORT

Politico reported that some European states, including Germany, France, the Netherlands and six other countries, are concerned about the European Central Bank (ECB) having the right to specify holding limits for the digital euro central bank digital currency (CBDC).

A concern is that the ECB could set the wallet limits too high, resulting in deposits flowing out of banks. One diplomat called it a “battle for power” between central banks and politicians

An opposite worry is that the limits might be viewed as inhibiting financial freedoms and hence a Big Brother move. A related concern is that the digital currency could be out of touch with consumer needs and not adopted.

While the EU’s treaty gives the ECB certain privileges, the digital euro will have its own legislationwhich has yet to be passed. 

Before the recent European elections, several amendments were proposed to a draft. Politico viewed the notes of one of the meetings, which showed that nine countries objected to the ECB deciding on wallet holding limits.

If the ECB sets the holding limit, it views this as preserving any decision from political pressures.

How would digital euro holding limits work?
A couple of key points were not covered in the Politico piece. Firstly, the whole point of the digital euro is to create a pan European payment system in an attempt to dislodge the dominance of non-European players such as Visa and Mastercard. While SEPA may be pan European, it is purely a backend solution. Hence, it seems logical that there needs to be a single limit for the entire EU block.

If the ECB doesn’t get to decide, how would it work practically? An annual vote on limits?

Messy waterfalls
The messier point is the implementation of the holding limits. If the holding limit is €3,000 and someone receives money that pushes the balance over, then any excess funds will be swept into a bank account.

On the other hand, if someone makes a payment and doesn’t have enough digital euros in their wallet, it can automatically pull the money from the connected bank account. These are the waterfall and reverse waterfall functions.

This has a few implications. At a practical level, some people like to keep tabs on how they spend money. If there’s a lot of movement between your bank and the digital euro wallet, that gets rather messy and hard to track. A lack of visibility also helps fraudsters.

Changing tack, one of the potential advantages of a CBDC is it could provide super efficient payments. However, with the waterfall and reverse waterfall, some payments could have three payment legs: the sender doesn’t have enough funds so it pulls money from their bank; the CBDC payment; and the recipient now has too much in their wallet, so that’s swept into their bank account.

That’s why several countries believe there will be pressure to provide higher limits, so there’s less need to use the waterfall functionality.

Some have noted that the waterfall also requires all banks in the EU to support real time payments 24/7, involving significant work. However, EU instant payment regulations were adopted earlier this year, so that will be a requirement with or without the digital euro.

Debates around setting the holding limit
In one of the more recent legislative proposals, it was suggested that banks and payment providers could set the limits themselves. The Dutch central bank published a digital euro paper concluding that holding limits would be critical, especially during the transition phase.

 Another report commissioned by the European Banking Federation found a €3,000 limit with a 40% takeup would increase bank funding costs by €8.8 billion.

For its part, the ECB says it would set the limits based on the economic circumstances at launch. However, one of the tasks it’s been working on recently is coming up with a methodology to make the decision.

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

STABLECOINS WILL THRIVE OVER CBDCS: CIRCLE CEO

Jeremy Allaire believes most governments are open-minded toward crypto and stablecoin regulations.

Speaking at the current Binance Blockchain Week in Dubai, the CEO of Circle, the issuer of the second-largest stablecoin, expressed optimism regarding global regulation toward the sector.

He also asserted that people would prefer privately-issued stablecoins over government-launched CBDCs, which has been evident in China.

Allaire spoke a lot about the current regulatory environment in numerous countries and outlined the overall positive sentiment coming from most. In fact, he noted that even those who have been publicly against the sector or sitting on the sidelines, are actually watching carefully what others would do and are ready to follow suit with comprehensive regulations.


He believes the next 12 months will be crucial for the stablecoin space, which has already grown to roughly $170 billion, with Tether’s USDT and Circle’s USDC responsible for the lion’s share.

However, Allaire noted that this is still a fraction of the global financial space, which is hundreds or even thousands of times larger. This means that the stablecoin industry still has lots of room for growth.

On the question whether the majority of global population will prefer central bank digital currencies or stablecoins, Circle’s CEO was adamant that they will go for the latter.

This is because people prefer privately-issued products and the innovation coming from them, rather than government-backed alternatives.

He outlined China as a good example. The world’s most populated nation launched its own CBDC a few years ago, but is yet to see actual usage, according to Allaire. He said people only use it once the government provides free coupons.

@ Newshounds News™

Source:  CryptoPotato

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🌱TOP QUESTIONS ABOUT EXCHANGING FOREIGN CURRENCY ANSWERED! SOWT   |  Youtube

@ Newshounds News™

Source:  
Seeds of Wisdom Team RV Currency Facts

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Chats and Rumors, Economics Dinar Recaps 20 Chats and Rumors, Economics Dinar Recaps 20

News, Rumors and Opinions Thursday AM 10-31-2024

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 fro the Restored Republic via a GCR: Update as of Thurs. 31 Oct. 2024

Compiled Thurs. 31 Oct. 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Wed. 30 Oct. 2024 Wolverine: Looks like this is it everyone! 

Things have started in certain places. Some Bond Holders have already got notifications with appointments on Monday. Some Bond Holders already have notifications for tomorrow. 

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 fro the Restored Republic via a GCR: Update as of Thurs. 31 Oct. 2024

Compiled Thurs. 31 Oct. 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Wed. 30 Oct. 2024 Wolverine: Looks like this is it everyone! 

Things have started in certain places. Some Bond Holders have already got notifications with appointments on Monday. Some Bond Holders already have notifications for tomorrow. 

Tier4b (us, the Internet Group) should be getting notifications for the currencies today Wed. 30 Oct, from 6 pm RENO time onwards. 

All needs to be done before the election.

I have been assured all is ready to go 

I received this info from Brazil Tues. 29 Oct. 2024: Tier4B internet group is officially active. It is a great honor to announce the Launch of the Tier4B internet Group. The use and unification under Tier4 ensure that all systems are flawless.  

We are waiting for the determination of the Wells Fargo National Bank Association, which is the guardian of these resources. Miguel Ribeiro is one of these people. The release of funds by the BC, requires authorization determination by Wells Fargo Bank which can happen at any time. The authorization has already arrived since 4 pm and all good to go from tomorrow (October 30, 2024).

I received a call from a close friend of mine and things are moving on his side, and hopefully, we will get 4B notifications.

Wed. 30 Oct. 2024: Tier4b funds released in Brazil.

On Fri. 1 Nov. 2024 Texas, the possible site of the new US Republic Capitol, was going to gold-backed currency.

On Wed. 30 Oct. 2024 Joanna Morning Star: “I was on the phone with Chief Fast Horse and his guest, Robert.  Chief Fast Horse was driving to a private plane hangar they have in Santa Barbara to then fly over to the Hopi reservation in Sedona, Arizona.  So yeah, this is cool. Humanitarian work is commencing.  Chief says the RV would never work when the US was a corporation.  He says they are now dispersing the funds because we are in the new Republic. Wanted to share the good news.” 

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Global Financial Crisis:

Wed. 30 Oct. 2024 US Banks were sitting on $750 Billion in Real Estate losses, seven times larger than total during the Global Financial Crisis.

Wed. 30 Oct. 2024: The U.S. Treasury plans to borrow nearly $1.4 trillion over six months, with $546 billion from October to December and $823 billion from January to March next year, reflecting rising debt and fiscal challenges. With the national debt nearing $36 trillion and interest payments consuming a growing share of federal revenues, economists warn the debt outlook remains uncertain, with no stabilization expected by 2029.

Read full post here:  https://dinarchronicles.com/2024/10/31/restored-republic-via-a-gcr-update-as-of-october-31-2024/

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

Frank26  [Iraq boots-on-the-ground report]   FIREFLY:
CBI saying they have plans in place to cancel out the dollar auctions soon because there is still corrupt in these transaction.   FRANK:  That is correct.  Sudani is removing the auctions from the CBI because that's where all the stealing was occurring. The auctions will no longer be in the control of the banks but in control of Sudani of the GOI...Sudani is not playing any more games. You are about to have your purchasing power as he promised you...

Mnt Goat  Remember about the Cash Center that recently opened to receive the stashes and hordes of dinars. The first point is these were dinars NOT dollars...These are NOT exchange centers. They are simply depositing their hoards of dinars in the bank and putting them into electronic form...They are staying in dinars, NOT U.S. dollars... these centers  show us some success of just the beginning stages of the process to delete the zeros. This is part of the process is to collect  these stashes of notes. These are not only needed for liquidity in the banks but also to coincide with the shrinking of the monetary mass that is needed to raise the rate of the dinar, when they do pull the trigger on the higher “official” CBI rate in- country.  

Putin Pushes For NEW International Payment System: What Is It And How Does It Work?

GeoFlux:  10-30-2024

In a bold move, Russian President Vladimir Putin is pushing for a new international payment system that could potentially reshape the global economic landscape.

The proposed BRICS Pay System, backed by the expanding BRICS group, aims to challenge the dominance of the US dollar and provide an alternative to the Western-controlled SWIFT system.

Built on blockchain technology, this system promises faster, cheaper, and more secure transactions in member nations' currencies.

The development of the BRICS Pay System is part of a broader trend of de-dollarization, as countries seek to reduce their reliance on the US dollar in international trade. This shift could lead to significant changes in global trade patterns, financial power dynamics, and economic governance.

While the BRICS Pay System faces significant challenges, such as economic disparities among member nations and regulatory hurdles, it presents intriguing opportunities for investors.

As the global financial landscape evolves, staying informed about these developments will be crucial for navigating the future of international finance.

https://www.youtube.com/watch?v=DuNPj0FBWPU

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