Wednesday, May 29, 2024
Parliamentary Finance announces the necessity of maintaining the economic foundations in the budget, 29 MAY
Parliamentary Finance announces the necessity of maintaining the economic foundations in the budget
The Finance Committee, headed by Engineer Atwan Al-Atwani, held its fifth meeting dedicated to discussing the general budget schedules for the year 2024.
The Chairman of the Committee stressed the necessity of conducting a comprehensive review, reconsidering the components of the budget, and studying the schedules in detail in order to find a clear vision, in addition to the importance of considering the entitlements of governorate projects compared to project allocations. Ministries, noting that the current financial allocations end at the end of the fiscal year.
The members stressed the importance of supporting the government in implementing its program aimed at providing services in all regions, taking into account supporting the governorates in strategic and infrastructure projects.
The committee discussed the possibility of making the necessary transfers and their impact on the sectors in a productive manner, while drawing a clear vision in accordance with the requirements of the public interest and reducing the deficit by rationalizing spending and supporting important sectors such as education and health, while paying attention to supporting the private sector.
It was emphasized that the economic foundations in the budget must be maintained, the philosophy of maximizing imports and enhancing exports, building decisions according to a clear vision while taking into account their positive repercussions, and emphasizing the completion of government projects that contribute to serving the citizen.
IQD/VND/USD: Which Currency Will Actually RV? BY AWAKE IN 3D, 29 MAY
IQD/VND/USD: Which Currency Will Actually RV?
Continuing on from my article explaining International Monetary Units: How SDRs Lead to Our GCR, Gold-backed digital currencies have gained significant attention recently, evolving from conceptual ideas to practical financial instruments.
Especially within the growing BRICS Alliance of nations.
Historically, the idea of a stable monetary unit has been explored through various means, culminating in the modern implementation of gold-backed digital stablecoins.
Gold-backed digital currencies will challenge the dominance of fiat currencies such as the US Dollar and revalue them significantly downward in exchange rate value.
Introduction to Gold-Backed Digital Currencies
Gold-backed digital currencies promise to reset and revalue exchange rates between traditional fiat currencies and new gold-anchored currencies.
By anchoring a currency to gold, countries can stabilize their national currencies against the inherent volatility of fiat currencies.
This revaluation process involves pegging the value of a national currency to a specific quantity of gold, providing a consistent and reliable measure of value.
As a result, exchange rates will reflect the true value of the currencies in relation to gold, reducing the influence of market speculation and economic instability.
This mechanism ensures that gold-backed digital currencies maintain a stable value, fostering trust and confidence in their use for cross-border transactions.
Advantages Over Traditional Fiat Currencies
Gold-backed digital currencies offer several advantages over traditional fiat currencies.
These digital assets combine the stability of gold with the convenience and efficiency of modern financial technologies.
Advances in FinTech (Financial Technologies) have made it feasible to create and manage digital stablecoins that are securely backed by physical gold, ensuring their value remains stable over time.
Unlike fiat currencies, which can be subject to inflation and political instability, gold-backed digital currencies provide a reliable store of value.
Gold Stablecoins: Anchors for New Currencies
Digital gold stablecoins are backed by physical gold, meaning each unit of the stablecoin represents a specific quantity of gold held in reserve.
This backing provides intrinsic value, making the stablecoin a reliable store of value and medium of exchange.
The process of transferring digital gold stablecoins between countries is streamlined by blockchain technology, allowing for instant and secure transactions without the need to physically move gold.
This mechanism not only ensures the stability of the currency but also enhances the efficiency and security of cross-border payments.
Future Implications for Global Finance
Gold-backed digital stablecoins represent a revolutionary development in the global financial system. They offer a stable and practical solution for international trade, reducing reliance on volatile fiat currencies.
Coffee with MarkZ and Andy Schectman. 05/29/2024
"ABOUT QFS " WITH ZESTER & MARKZ, 29 MAY
QFS
Zester: Yes you will be in full control of your money and assets.
Zester: Right now we do not have self custody. The banks have far more custody of our dollars and property then we do. In this case “Self Custody “ means we will own our own money….and own our own property. It will be in our hands and not the hands of a third party or central banks. Zester: He went on to say to the nation’s 50 million crypto holders that he would keep Elizabeth Warren and her goons away from your bitcoin and I will never allow the creation of a Central Bank Digital Currency. Zester: For all the conversations that have gone on about the new financial system. –This is the first time I have seen a Us politician actually discussing it. Things are obviously being discussed in the background. MZ: And he is beating all around the “Quantum Financial System “ without saying the words “Quantum Financial System”.