Monday, April 29, 2024

FRANK26….4-28-24…..FORGET PARLIAMENT!!!

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Parliamentary Finance: The positive results of Sudanese’s visit to Washington will appear soon - Urgent , 29 APRIL

 Parliamentary Finance: The positive results of Sudanese’s visit to Washington will appear soon - Urgent

4/29/2024 Baghdad

The Parliamentary Finance Committee confirmed today, Monday (April 29, 2024), that the positive results of the Prime Minister’s visit to Washington will appear soon.

Committee member Moeen Al-Kazemi told “Baghdad Today” that “the visit of Prime Minister Muhammad Shia Al-Sudani to the United States of America achieved great and important success at the level of various economic and investment files, and these results will soon appear on the ground, especially with regard to the strength of the Iraqi economy.” And the dollar file and its complete control.”

Al-Kadhimi stated, “The government has made great progress in controlling the dollar and preventing any manipulation of the currency in the local market by some merchants and others. This is why we see a noticeable decline in the exchange rate in the parallel market, and the coming days will see a greater decline, as well as the implementation of the economic agreements with Washington.” "It takes time."

The dollar exchange rates are still high and declining from time to time, while observers expect Iraq to witness greater development in the economic sector in various related fields, in addition to the energy sector, with the Sudanese visit focusing on creating a shift in the relationship between the two countries and not being limited to the security aspect.

Especially with the Sudanese signing 18 memorandums of understanding during his visit to Washington 10 days ago.   LINK

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JUDY NOTES, 29 APRIL

 Timing

  • Tues. 30 April: According to Goldilocks a market reset will now happen across all sectors, including Forex.
  • Wed. 1 May Day – A new Beginning.
  • On Thurs. 2 May if a bank was not Basel 3 Compliant, they would either be closed, or absorbed by another bank. The Central Bank of Brazil would launch their new “international banking” system. EBS Test?
  • Sun. 5 May Orthodox Easter

Effective April 30, 2024, the Depository Trust Company is giving us a notice. They’re telling us that their coverage for settlement risks in assets or securities that are not collateralized could be at risk in a market moving into real values.

  • Corporate notes or bonds are moving from 50% to 70% haircut value. Cryptocurrencies have a haircut value potential of 100%, and this includes Bitcoin.
  • In other words, any asset going forward that is not backed by a commodity has a haircut value risk when the market resets into a new set of values based on Real World Assets.
  • What are we being told could happen after April 30th, 2024? A market reset across all sectors of the market including Forex.

Global Currency Reset:

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"RV UPDATE" BY MARKZ, 29 APRIL

 MarkZ 

  [via PDK] 

  In Iraq “Iraq’s Federal Board of Supreme Audit exposes US $600 million corruption scandal involving “ghost travelers”  Iraq allowed people to get US cash when they said they were going to travel abroad. People were getting cash and were not traveling at all…and the money went to the parallel markets….  The US claims this is “corruption”  This is more proof positive they need to change that dinar rate as soon as possible.

There is some anticipation from one of my redemption center contacts who is expecting to work this weekend….  I take that as positive... 

...a little more news out of Vietnam...they continue to crackdown on corruption: “Vietnam jails soft drink tycoon for eight years in $40M fraud case”  ...I am leaning toward they are cleaning the system to change the value of the VND.

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GURU MARKZ'S ANNOUNCED THE REDEMPTION CENTER FOR DINAR REVALUATION

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"RV UPDATE" BY JEFF, 29 APRIL

JEFF  

The next big step in this is we want to see when Iraq will be amending their budget...They can amend it before or after the rate changes...

 This weekend coming up would be the historical anniversary date of when Kuwait reinstated their currency - March 24, 1991

 Iraq technically does not need to amend the budget if they're not changing their rate.  

The budget already covers their operating expenses.  But they would need surplus funds to cover the reforms.  The reforms are contingent upon the rate changing.  They can't bring these reform package forward if the rate does not change.  The only reason they're amending the budget is because the rate is changing...The step of amending the budget can happen either before or after the rate changes  ... They will probably announce Thursday or Friday as to when they plan to amend the budget, which they'll probably do around this weekend...

https://dinarevaluation.blogspot.com/2024/03/rv-update-by-jeff-22-march.html

 [Response to Guru Jeff's budget/ exchange rate posts 3-19-2024 below]  

They are going to amend the budget with or without a rate change....Does it make sense for you to release the budget before they increase the exchange rate because then you have to turn around and redo the budget and make all the changes to the budget using the new exchange rate.

  So no, it doesn't make sense to release the budget before you change the exchange rate.  You would change the exchange rate then go through and amend all of your budget because the money you've allocated obviously has changed...

The suspension of the funds has to do with corruption.  The reforms can be activated without changing the rate.  They're going to reallocate revenue from oil to help fund all these reforms..

https://dinarevaluation.blogspot.com/2024/03/rv-update-by-pimpy-21-march.html

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"ABOUT STABLECOIN" BY GOLDILOCKS, 29 APRIL

 GOLDILOCKS

Stablecoin adoption is rapidly increasing, with research firm rwa.xyz reporting a 15% increase in the number of addresses holding both dollar and crypto-pegged stablecoins in 2024. Chainalysis also found that stablecoins are becoming more prominent in overall on-chain transaction activity, with increasing importance in various nations and regions. Stablecoins, cryptocurrencies with values pegged to an external reference like the U.S. dollar, have represented over half of all on-chain transaction volume, highlighting their growing importance in the cryptocurrency market.


The adoption of stablecoins is being propelled by their ability to provide anyone with an internet connection access to the U.S. dollar, unlocking new pathways for financial inclusion. The U.S. leads in stablecoin purchases, but global demand is high, with over $40 billion purchased in March alone across diverse nations and regions. Stablecoins are serving as a critical bridge between traditional finance and cryptocurrency, with the stablecoin market currently valued at around $150 billion and expected to exceed $2.8 trillion by 2028.


The stablecoin market has become more competitive, with Ripple announcing plans to launch a USD-backed stablecoin on the XRP Ledger. This move is expected to generate more use cases, liquidity, and opportunities for developers, as well as provide additional crypto liquidity to service cross-border payments demand. Stablecoins like PYUSD and Tether are being used for cross-border payments, remittances, and facilitating transactions in regions such as Latin America and the Caribbean, promoting dollar dominance and increasing access to U.S. dollars.


The growing demand for stablecoins has prompted lawmakers to focus on stablecoin legislation, with proposed regulatory frameworks aimed at maintaining the U.S. dollar’s dominance, promoting responsible innovation, protecting consumers, and combating money laundering and illicit finance. Legislation such as The Lummis-Gillibrand Payment Stablecoin Act seeks to establish a regulatory framework for payment stablecoins, requiring issuers to maintain one-to-one reserves and prohibiting unbacked, algorithmic stablecoins. This legislation, if passed, could accelerate institutional blockchain innovation and drive stablecoin adoption.


Despite the potential impact of stablecoin legislation on adoption, experts believe that stablecoins will continue to rise as a global asset regardless of regulations. Stablecoins provide a crucial solution for individuals in countries facing currency volatility, offering stability and facilitating commerce. While regulations may provide more comfort for institutions using stablecoins and potentially bring banks into the stablecoin market, stablecoins have already surpassed all other types of cryptocurrencies in usage and represent over half of all transaction volume in recent months.


Overall, the adoption of stablecoins is on the rise globally, driven by their ability to provide access to the U.S. dollar, promote financial inclusion, and facilitate cross-border payments. Stablecoins are becoming increasingly important in the cryptocurrency market, with their market value expected to grow significantly in the coming years. While stablecoin legislation may influence adoption in certain regions, experts believe that stablecoins will continue to play a crucial role in the cryptocurrency ecosystem and serve as a bridge between traditional finance and digital assets.


https://globeecho.com/evidence-suggests-stablecoins-are-emerging-as-a-worldwide-asset-class/

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