News, Rumors and Opinions Sunday PM 1-12-2025

TNT:

Tishwash:  Kurdish MP: Postponing today's session is a shock to MPs, and the parliament presidency bears responsibility

The representative of the Kurdistan Democratic Party, Jiay Timur, expressed his dissatisfaction with the performance of the current parliamentary session, while describing the lack of quorum and the adjournment of the session before it began as a “shock” to the representatives.

Timur told {Euphrates News} that: "The lack of quorum and the adjournment of the session before it started was a shock to the MPs, and there were 154 MPs in attendance in today's session."

He stressed that "announcing sessions without holding them due to the absence of MPs has become a recurring phenomenon," holding the parliament presidency "responsible for this delay."
Timur stressed "the need to pressure MPs to attend in order to legislate laws that affect the lives of citizens."

He pointed out that "the disagreements over some laws are because they concern certain segments or components and not others," explaining that "the agenda of today's session included seven non-controversial paragraphs, and it was expected that the session would be held without problems." link

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

Tishwash:  The Central Bank is working to provide various services to bank card holders.

The Central Bank of Iraq works within its strategy to provide various services to bank cardholders, by expanding the spread of cash delivery outlets and through all available channels, including ATMs and POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq.

The Central Bank confirms in its circulars that included directing banks and non-banking financial institutions to spread and expand their financial services in areas that lack the aforementioned services.

While the bank seeks to develop these services by establishing the latest infrastructure for financial products and services in Iraq, and improving them continuously.

The Central Bank invites you to submit inquiries and complaints, if any, through the following link:  https://complaint.app.cbi.iq/

Central Bank of Iraq 
Media Office  January 12, 2025  link

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

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

Militia Man  We've been spot on talking about the dollar auctions going to cease and sure enough they have.  I'm thankful that has happened because I know what I own and I'm looking forward to it just like everybody else.

Frank26  Last week I followed [the parallel black market rate]...On Sunday it was 1310, on Monday it was 1275, on Tuesday it was 1170, Wednesday it was 1160.  IMO Sudani is looking for the black market to reach 1,000.  When he does, IMO, the game is on.  That is the next step ladies and gentlemen.  They are watching the illegal black market...the value of the dollar is dropping, thank you CBI for stopping the auctions...We're getting close to the next step.

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

MARKETS A LOOK AHEAD: ON THE EDGE OF A WORLD DEBT MARKET IMPLOSION.

Greg Mannarino:  1-12-2024

https://www.youtube.com/watch?v=WHe0MNAc_Yk

ADDICTED TO SPENDING: How America’s Debt Addiction Is Triggering Collapse

Taylor Kenny:  1-12-2025

The U.S. economy is on a collision course with hyperinflation and a currency reset as reckless government spending spirals out of control. Discover why stagflation and hyperinflation are inevitable, what history teaches us about economic collapse, and how you can safeguard your wealth. Learn why physical assets like gold and silver are your best defense against the coming crisis.

https://www.youtube.com/watch?v=Y_G74U4fVu4

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 1-12-25

Good Afternoon Dinar Recaps,

KENYA PREPARES TO LEGALIZE CRYPTOCURRENCIES: REPORT

Kenya's Treasury Secretary unveils plans to legalize cryptocurrencies, introducing regulations to harness blockchain potential while tackling money laundering and fraud risks.

Kenya is set to introduce legislation to legalize cryptocurrencies, marking a policy shift, according to a local report quoting Treasury Cabinet Secretary John Mbadi.

Speaking on Friday, Mbadi outlined the government’s plans to create a regulatory framework for cryptocurrencies, an industry that has operated in the shadows despite an official ban.

“Kenya’s financial sector is a beacon of innovation and growth in Africa,” Mbadi stated. “The emergence and growth of Virtual Assets and Virtual Asset Service Providers have given rise to innovations in the local and international financial system with dynamic opportunities and challenges.”

While recognizing the risks associated with cryptocurrencies, such as money laundering, terrorism financing, and fraud, Mbadi emphasized that a legal framework would allow Kenya see the benefits of the crypto market while mitigating its dangers.

“The Government of Kenya is committed to creating the necessary legal and regulatory framework in order to leverage opportunities presented by VAs and VASPs while managing the resultant risks,” he added.

IMF Urges Kenya to Establish Clear Crypto Regulations

The proposed policy seeks to establish a fair and competitive crypto market and improve financial literacy across the country.

This initiative aligns with recent calls from the International Monetary Fund (IMF), which urged Kenya to develop regulations to address consumer protection and financial crime concerns related to cryptocurrencies.

In a technical assistance report released on January 8, the IMF outlined shortcomings in Kenya’s current regulatory approach to crypto assets.

Outdated frameworks have struggled to address the rise in crypto-related scams and illicit activities, leaving consumers vulnerable to financial risks.

With Kenya joining the growing list of African nations embracing cryptocurrency, this regulatory shift could position the country as a regional hub for blockchain innovation while addressing systemic risks.

@ Newshounds News™

Source:  CryptoNews

~~~~~~~~~

SINGAPORE LABELS POLYMARKET ILLEGAL GAMBLING, RESTRICTS SITE ACCESS

▪️Singapore blocks Polymarket, citing unlicensed gambling.

▪️Polymarket faces a ban in France and CFTC subpoena in the US.

Singapore has officially blocked Polymarket, a crypto-based betting platform, citing its unlicensed status in the country.

Warning Notice

Visitors to the site are greeted with a warning from the Gambling Regulatory Authority, labelling it an illegal gambling operation.

The notice warns that gambling on unlicensed platforms may result in fines, jail time, or both.

The block falls under the Gambling Control Act 2022, which mandates that all gambling operators targeting Singaporean residents obtain proper licensing.

Singapore currently restricts online gambling to state-approved operators like Singapore Pools, the country’s sole licensed provider.

Polymarket, known for hosting high-stakes prediction markets on events like the US presidential election, is also encountering resistance in Europe.

In France, the country’s gambling regulator, ANJ, blocked access to the platform in November.

According to The Big Whale, a French crypto news outlet, the ANJ considers Polymarket a form of illegal betting.

A source close to the regulator claimed, “This is not legal in France,” as officials examine its compliance with local gambling laws.

Meanwhile, in the United States, the platform is under fire from the CFTC, which has proposed stricter rules on prediction markets.

On Thursday it was revealed that Coinbase notified customers it received a subpoena from the CFTC seeking account information tied to Polymarket.

@ Newshounds News™

Source:  DL News

~~~~~~~~~

'LIVE FREE OR DIE': NEW HAMPSHIRE THE LATEST STATE TO CONSIDER BITCOIN RESERVE BILL

New Hampshire Rep. Keith Ammon proposed a bill to enable a Bitcoin treasury reserve, which he framed as a matter of state sovereignty.

New Hampshire Rep. Keith Ammon (R) proposed a bill Friday that would enable the state’s Treasury to invest a portion of public funds into digital assets and precious metals.

Not only would the move insulate the Granite State from the threat of runaway inflation, but it would also dovetail with some of New Hampshire’s cultural values, Ammon told Decrypt.

“The ethos in New Hampshire is ‘Live Free or Die’—leave me alone, and don’t burden me with too many regulations,” he said. “We’re tied to the U.S. dollar, whether we like it or not, but this would allow us to have the state invest a small portion into this uncorrelated, new asset class.”

 Newshounds News™

Read more:  Decrypt

~~~~~~~~~

RIPPLE AND MOONPAY PLEDGE $50,000 IN RLUSD TO LAFD FOUNDATION FOR CALIFORNIA WILDFIRE RELIEF

▪️Wildfires in California have reportedly destroyed about 12,000 structures leading to over 11 fatalities, with containment still a challenge.

▪️Ripple and MoonPay donated $50,000 worth of RLUSD to the Los Angeles Fire Department Foundation, supporting first responders amid the crisis.

@ Newshounds News™

Read more:  Crypto News Flash

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps

The Center of the Next Meltdown

The Center of the Next Meltdown

Liberty and Finance:  1-11-2025

The stability of the American banking system is under increasing scrutiny, with experts like Todd “Bubba” Horwitz raising serious alarms.

During a recent discussion with Liberty and Finance, Horwitz expressed profound concerns about the precarious state of banks, particularly their alarming levels of leverage, suggesting we could be nearing another financial crisis.

Horwitz’s analysis paints a picture of a banking sector excessively reliant on the Federal Reserve’s monetary policy. He argues that banks have become acutely dependent on low interest rates and the Fed’s interventions, creating a fragile system.

While recent interest rate hikes have temporarily boosted bank profits, Horwitz believes this is merely a delay tactic, masking the underlying problems and increasing the eventual shock that is coming.

His core concern stems from the massive amounts of debt held by individuals and businesses. Horwitz anticipates that when credit card bills and loan payments come due, defaults will skyrocket, exposing the vulnerability of banks that are heavily invested in these debt instruments. This scenario, he believes, is a recipe for disaster.

“The banks have been benefiting from the rate hikes, but it’s just pushed the can down the road,” Horwitz warned. “When that debt starts to come due, we’re going to see the cracks appear, and the walls come down.”

He asserts that the overleveraged nature of the banking system makes it a likely catalyst for a future market meltdown. He fears it won’t be a gradual downturn, but a sudden and potentially catastrophic event emanating from the financial sector’s instability.

The specter of another financial crisis echoes the 2008 recession, where taxpayers were forced to bail out failing financial institutions. Horwitz suggests that history is poised to repeat itself, with the American public once again facing the burden of rescuing reckless banks.

This potential bailout would have far-reaching consequences, further eroding public trust and potentially leading to more economic hardship for the middle class.

The implications of such a crisis extend far beyond Wall Street. Horwitz emphasizes that the banking sector’s instability could send shockwaves throughout the broader economy. Businesses could face difficulties accessing credit, consumer spending might shrink, and job losses could climb, all contributing to a significant economic downturn.

However, amidst these dire predictions, Horwitz offers a crucial piece of advice: don’t panic. He suggests that individuals take proactive steps to protect their financial well-being. He advocates hedging portfolios with assets that tend to perform well during economic uncertainty.

This might include precious metals, specific commodities, or other investments that can act as a buffer against market volatility. The goal, according to Horwitz, isn’t to fear the storm but to be prepared for it.

In conclusion, Todd “Bubba” Horwitz’s analysis presents a stark warning about the fragility of the current banking system. His concerns about overleveraging and the potential for a bank-led crisis underscore the need for vigilance and prudent financial planning.

While the future remains uncertain, Horwitz’s message is clear: the time to act is now, before the potential storm hits. He urges individuals to avoid panic, assess their risk, and take steps to safeguard their financial futures. The potential consequences of neglecting these warnings could be significant, particularly for the middle class and the overall health of the American economy.

https://youtu.be/0q_Mc29Mxg8

Seeds of Wisdom RV and Economic Updates Sunday Morning 1-12-25

Good Morning Dinar Recaps,

BRICS PAY: IS 2025 NOW OR NEVER FOR ALLIANCE PAYMENT SYSTEM?
Despite the project first being announced as part of the 2024 summit, BRICS Pay has failed to make a significant impact as 2025 arrives. With the economic alliance continuing its de-dollarization efforts and US President-elect Donald Trump issuing a start 100% tariff warning, it appears like it may be now or never for the payment system.

For the past two years, the bloc has sought alternative payment methods to help defend against Western economic dominance and imposed sanctions. 

Although BRICS has made some progress, it certainly has not been able to challenge the US dollar in any significant way. Now, all eyes are on the importance of 2025 for one of its most important economic plans.

BRICS Pay Faces Critical Year Amid Rising Geopolitical Turmoil

For the last two years, the BRICS bloc has mobilized in a way that has sent ripples through the globe. First formed in 2001, the bloc expanded for the first time in 2023. Now, two years later, it has already doubled its member count while welcoming a secondary tier of partner nations.

However, although its presence has grown, so too have its challengers. With the incoming presidential administration not content to allow the bloc to grow unchecked, the BRICS Pay platform and the group’s de-dollarization efforts look like they’re now or never entering 2025.

US President-elect Donald Trump has recently issued 100% tariff threats on the BRICS alliance specifically. This has greatly affected the bloc and its growth prospects.

 Although the previous administration allowed its efforts to go unchecked, nations seeking to join the group must now grapple with concerns regarding Western retaliation.

Moreover, for all that BRICS has attempted over the last year, the US dollar remains unchallenged. More importantly, it has emerged stronger compared to a plethora of alliance currencies. The greenback has appreciated more than 5% since the start of the year, with the Chinese yuan and Indian rupee falling significantly since the start of the year.

Ultimately, the BRICS Pay platform was the alliance’s “step towards a multipolar global economy,” Ramesh Vaidyanathan of the IBA Asia Pacific Regional Forum said. “It could also increase competition between the Western and Eastern economic models, with long-term geopolitical implications,” he warned.

Altogether, BRICS Pay has thus far failed to live up to expectations. With Donald Trump eager to protect the greenback, its road to de-dollarization looks more treacherous than ever. It is now or never for the alliance payment system, indeed.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

RIPPLE’S $100,000,000 RLUSD MILESTONE SIGNALS STRONG 2025 OUTLOOK FOR XRP

▪️Ripple's RLUSD stablecoin sees $100M+ daily volume, aiming to dominate DeFi and global payments in 2025.

▪️Ripple's liquidity-driven RLUSD strategy focuses on DeFi, tokenization, and partnerships for rapid adoption.

Ripple has launched its new stablecoin, RLUSD, which is already seeing impressive trading volumes of over $100 million daily. Many are curious about how this move will impact XRP, and here’s what Austin, a former Ripple employee and co-founder of Omni Network, shared about Ripple’s strategy moving forward.

“Liquidity is a flywheel. The more trading activity an asset has, the more incentivized other exchanges will be to integrate that asset. This idea is foundational to every initiative driven by Ripple. How are they applying this concept to their $RLUSD strategy?”, he wrote on social media.

Ripple’s RLUSD Strategy Revealed

Austin King, who previously worked closely with Ripple’s co-founder David Schwartz shared details on Ripple’s approach to RLUSD.

According to him, Ripple’s strategy is focused on driving adoption of RLUSD using a liquidity-driven model. The more trading activity RLUSD generates, the more exchanges and traditional finance companies will be incentivized to integrate it.

Key Pillars of Ripple’s RLUSD Strategy

Liquidity Hub and Tokenization: Ripple aims to make RLUSD the go-to asset for real-world asset tokenization and liquidity. This will be critical for onboarding traditional finance companies, positioning RLUSD as a central hub in the financial ecosystem.

DeFi Dominance: Ripple plans to integrate RLUSD into decentralized finance (DeFi) protocols, including lending platforms, decentralized exchanges, and derivatives. The recent partnership with Chainlink to bring RLUSD to Ethereum-based DeFi protocols marks a significant step in this direction.

Leveraging Existing Partnerships: Ripple has a strong network of banks and fintechs through RippleNet. This existing infrastructure will be used to drive RLUSD adoption, making it easier for Ripple to introduce the stablecoin to its partners.

Austin believes that 2025 is set to be a huge growth year for Ripple and RLUSD, with stablecoins playing a central role in global payments.

FAQs

What is Ripple’s RLUSD stablecoin?
Ripple’s RLUSD is a stablecoin focused on liquidity-driven adoption, aiming to integrate into DeFi and traditional finance for tokenization.

Will RLUSD use XRP?
RLUSD may leverage XRP’s liquidity and Ripple’s infrastructure, enhancing cross-border payments and driving adoption through RippleNet.

@ Newshounds News™

Source:  CoinPedia

~~~~~~~~~

NORTH DAKOTA EYES CRYPTO FOR TREASURY: COULD BITCOIN BE INCLUDED?

▪️North Dakota joins New Hampshire in exploring crypto investments for state reserves, aiming to diversify assets and combat inflation.

▪️Bitcoin’s market dominance positions it as a prime candidate, while tech-neutral policies reduce political resistance in crypto legislation.

@ Newshounds News™

Read more:  Crypto News Flash 

~~~~~~~~~

OKLAHOMA SENATOR PUSHES BITCOIN FREEDOM ACT FOR BTC PAYMENTS

▪️Oklahoma passed the Bitcoin Freedom Act, which permits state employees, businesses, and residents to make or receive payments in Bitcoin.

▪️The bill also provides for the voluntary acceptance of Bitcoin payments and some exemptions for digital asset companies from licensing.

@ Newshounds News™

Read more:  Crypto News Flash

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps

“Bits and Pieces” in Dinarland Sunday AM 1-12-2025

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Sun. 12 Jan. 2025

Compiled Sun. 12 Jan. 2025 12:01 am EST by Judy Byington

Judy Note:  Get Ready For Ten Days of Communication Darkness. The power to the entire World will switch off briefly to install our new Starlink Satellite Internet. Shutdowns will occur, but only in certain areas. Banks will close. ATMs and Credit Cards will stop working. Have at least a month’s supply of food, water, cash, medicine and essential items on hand for yourself, your family and to share with others in case of emergency. If you’re unprepared, don’t worry. The Military will supply what you need. Nonstop education will be broadcast, teaching everyone about the true principles of Freedom and Justice.

~~~~~~~~~~~~~

Possible Timing:

On Wed. 15 Jan 2025 a 48-Hour Communication Blackout  (allegedly) will begin. There will be GCR GESARA Worldwide Wealth Redistribution while the depth of corruption will be revealed.

Three days later on Inauguration Day Mon. 20 Jan. 2025 ten days of Communication Darkness will (allegedly) begin. The new Star Link Satellite System will(allegedly)  show documentaries 24/7 to inform the public about the fall of the Cabal and it’s fiat US Dollar, independence for all 209 nations participating in the Global Currency Reset and the availability of(allegedly)  long hidden technologies including Med Beds.

On Sat. 25 Jan. 2025, the first phase of the wealth redistribution will officially (allegedly) commence, directly benefiting millions and marking the start of real community rebuilding efforts.

Global Financial Crisis:

Fri. 10 Jan. 2025: Breaking! The BRICS Alliance, NESARA GESARA and Quantum Financial System (QFS): The Deep State’s Greatest Fear Realized! – amg-news.com – American Media Group

Fri. 10 Jan. 2025: Breaking News: Ultimate QFS Security Guide – Protect Your Account with Quantum Encryption, Biometric Verification, UBI Insights, Age Policies & More! – amg-news.com – American Media Group

Read full post here:  https://dinarchronicles.com/2025/01/12/restored-republic-via-a-gcr-update-as-of-january-12-2025/

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

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

Militia Man  The 2023, 2024, 2025 budget amendment looks to be on the table.  It was supposed to be read on Monday, it looks like it's slated for Sunday.  So powerful weekend...It looks pretty promising it really does.  

Walkingstick  [Iraqi bank friend Aki update]  AKI:  We are just sitting here waiting for the introduction of the new exchange rate that will come from the '25 budget.  We wait for the budget laws that will expose the budget and its components and the new rate...

Frank26  It used to be they would steal the money...through the auctions but now there is no more auctions.  The cash cow is dead and the security and stability is blossoming inside of Iraq because of the efforts of Sudani, and the United States Treasury...The black market was another powerful weapon they used to manipulate the exchange rate of the Iraqi currency...The black market rate is dropping.  It is dying...The black market does not feed the evil people anymore...

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

President of the Republic of Iraq finance

Nader:  1-12-2025

https://www.youtube.com/watch?v=ZMmH7lxFwkA

UK’s Assets Crash Just Sent a Massive Warning to the World - What It Means

Sean Foo: 1-11-2025

The UK is suffering from yet another historic bond market sell-off and a currency collapse. This is a result of the US dollar wrecking ball. But that doesn't mean the US economy is off the hook. The system is about to also wreck the US stock market as well as its hegemony in geopolitics.

Timestamps & Chapters:

0:00 UK Assets In Major Crisis

 3:03 Debt Collapse Hits Economy

 6:05 Global Market Sell-Off Begins

8:55 World Will Move Way From U.S.

 11:50 Expect Zero Rate Cuts In 2025

https://www.youtube.com/watch?v=12Xg5s54U4E

“Tidbits From TNT” Sunday Morning 1-12-2025

TNT:

Tishwash:  Economist: The Central Bank’s policy is moving towards globalizing Iraqi banks

Economic expert "Safwan Qusay" confirmed that the Central Bank's policy is moving towards globalizing Iraqi banks, while stressing that it will contribute to raising the status of these banks globally.

Qusay said in an interview: "The Central Bank's policy is moving towards consolidating the issue of globalizing Iraqi banks, and the process of ending dealings with the electronic platform will contribute to accepting local banks that have the ability to provide guarantees and international compliance conditions with international correspondent banks."

He added that "these correspondent banks can carry out the process of changing the Iraqi dinar to any global currency immediately, and for more than a million banks around the world, and there is a possibility to develop the performance of other banks in order to succeed in the international acceptance process, and there is still a possibility to import capital from different countries of the world and re-inject it into the local environment in the form of grants in different investment portfolios, and thus the possibility of achieving the goals of the Central Bank in the matter of development."

He pointed out that "the Central Bank will move from the issue of accepting local banks internationally to the issue of participating in the development process, and this will certainly contribute to achieving part of the government program's goals in employing the unemployed, and in forming productive Iraqi capital, especially since a portion of Iraqis own Iraqi dinars outside the banking system, and whenever we start the issue of convincing them to trust Iraqi banks, we will have new doors to operate this monetary mass."

He stressed that this step will contribute to raising the status of Iraqi banks globally, "meaning that they will succeed in the process of having a name in international financial transfer operations, and gradually confidence between banks will be strengthened, and there is what is called credit cover between Iraqi banks and international banks, and the level of confidence will be reflected in the credit cover."

He pointed out, "Whenever there are transfers and coverage at acceptable credit levels, this level may rise so that we succeed in the process of having Iraqi banks that are accepted internationally - and this is a step that does not exist - as Iraqi banks, especially public ones such as Rafidain and Rashid, have withdrawn from international financial transfers since the eighties of the last century."

Pointing out that "rehabilitating these banks, especially TPI Bank, can contribute to our having international acceptance for international correspondents for these banks." link

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

Tishwash:  2025 budget is on the verge of legislation, and delaying the schedules will not stop the decision

Jamal Kojer, a member of the Finance Committee in Parliament, confirmed today, Saturday, that the 2025 budget schedules have not reached Parliament yet, but he stressed that the budget will be legislated during the current legislative session.

Kocher explained in a statement to {Euphrates News} that "the delay in the arrival of the tables will not affect the course of the budget legislation, indicating that the next legislative session will be quieter due to the preoccupation of the representatives with the elections, which will reduce their attendance at the sessions."

It is noteworthy that the financial advisor to the Prime Minister, Mazhar Muhammad Salih, said in a press statement that Article 77/Second of the Federal General Budget Law No. 13 of 2023, which regulates the preparation of the three-year budget, stipulates that the government sends the budget tables for the years 2024 and 2025 to the House of Representatives for approval before the end of the previous fiscal year.

He added that the Ministry of Finance has announced that it is in the process of preparing the general budget schedules for the year 2025, in accordance with the constitutional mechanisms adopted by the aforementioned Triennial Budget Law.

Saleh noted that the federal general budget tables for the year 2025 will be based on the constants of Federal Budget Law No. 13 of 2024, taking into account international and regional economic conditions and their changes, in a way that ensures that the provisions of the budget tables for the year 2025 are adapted within the available legal texts, in addition to relying on the performance of the indicators of the general budget tables for the year 2024. link

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

Tishwash:  Salaries are secured and a committee is following up on Kurdistan’s dues.. Details of hosting Taif Sami in Parliament

On Saturday, January 11, 2025, the head of the Finance Committee, Atwan Al-Atwani, revealed the details of hosting the Minister of Finance, Taif Sami, within the committee, while indicating that the minister confirmed securing the salaries of employees during 2025 .

Al-Atwani said in a press statement followed by the "Al-Jabal" platform, "Minister of Finance Taif Sami confirmed during her hosting within the Parliamentary Finance Committee that employees' salaries are secured through 2025."

He added, "We have formed a subcommittee to follow up on the Kurdistan Region's dues for the years 2024-2025," adding, "The committee will submit its report in the next Monday's session regarding amending Article 12 / Second / Paragraph C of the General Budget Law."

Earlier today, the Iraqi Parliament's Finance Committee held a meeting, hosting Iraqi Finance Minister Taif Sami, to discuss the issue of amending the country's general budget law and securing employees' salaries.

A source from within the parliamentary finance committee previously told Al-Jebel platform that “this meeting (with the Minister of Finance) was supposed to be held before the legislative recess, but the travel of senior officials from the Iraqi Ministry of Finance prevented that,” adding that “the finance committee will collect all information related to the subject during the meeting to later submit it to the Speaker of Parliament.” 

The Parliamentary Committee hosted the Minister at the Parliament headquarters to discuss with her the issue of amending the General Budget Law, which the Parliament is scheduled to conduct its first reading of next Monday, and securing the salaries of public sector employees for the year 2025.

The Iraqi Parliament is scheduled to hold a session on Monday, January 13, to discuss and read a set of proposed draft laws, including an amendment to the provisions of Iraq’s General Budget Law No. 13 of 2023.

The aforementioned amendment is related to the resumption of oil exports from the Kurdistan Region abroad.

Member of the Parliamentary Oil and Gas Committee, Sabah Subhi Haider, had previously stated to the Mountain Platform, “We conducted the first reading of the amendment and all that remains is the second reading and voting on it. All expectations are moving towards an agreement, and there is a political agreement as well as an international and regional agreement on the necessity of re-exporting Kurdistan’s oil at a rate of 400,000 barrels per day.”

He added, "The order to resume oil exports from the Kurdistan Region is still in place, through amending (Article 12, Paragraph/Second C) in General Budget Law No. 13 of 2023."

Oil exports from the Kurdistan Region to abroad via the Turkish port of Ceyhan were halted in March 2023, after the International Court of Arbitration in Paris issued a decision to adjudicate a lawsuit filed by Iraq against Turkey regarding (the illegality of exporting Iraqi oil from the port of Ceyhan without coordination with the Iraqi SOMO Company). According to official statements by officials, the losses of Iraq and the Kurdistan Region from stopping the export process exceeded $20 billion since last year. link

 ************

Mot:  Legends Say that Hummingbirds ----

Mot: . I Figured It Out!!! 

More News, Rumors and Opinions Saturday PM 1-11-2025

KTFA:

Clare:  Parliamentary Finance hosts Taif Sami to discuss 2025 budget schedules and salary insurance

1/22/2025  Baghdad

Today, Saturday, the Parliamentary Finance Committee hosted the Minister of Finance, Taif Sami.

An informed source said, "The meeting will discuss the 2025 budget schedules and securing salaries."

He added, "The meeting will also discuss Article 12 of the 2025 Budget Law Amendment, which relates to resuming the export of Kurdistan Region oil and preparing the final draft of the amendment." LINK

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

Clare:  The House of Representatives discusses amending the Unified Retirement Law and the General Budget

1/11/2025

The Iraqi Council of Representatives is scheduled to resume its sessions tomorrow, Sunday, and the first reading of the draft amendment to the Federal Budget Law is on the agenda, as it proposes extending the retirement age for public sector employees to 63 years.

In this regard, Dr. Narmin Marouf, a member of the Parliamentary Finance Committee, said: “The first session of the first legislative term of the new year will be held on Sunday, as the agenda includes the first reading of the draft law amending the General Retirement Law No. 9 of 2014.”

Dr. Narmin Marouf added: “The main article to be amended in the law is Article 5 related to the retirement age, as the amendment proposes returning the retirement age for public sector employees to 63 years, as it was before the legislation of the aforementioned law, which reduced the retirement age to 60 years.”

The Council of Representatives is scheduled to hold another session on Monday 13/10, and its agenda includes 10 paragraphs, the most important of which is the second reading of the draft amendment to the Federal General Budget Law.

The amendment relates to Article 12 of the Federal Budget Law of the Republic of Iraq for the fiscal years (2023-2024-2025) No. 13 of 2023, and this article concerns the export of oil extracted from the Kurdistan Region through the Iraqi Oil Marketing Company (SOMO).

On 11/7/2024, the Presidency of the Iraqi Council of Representatives decided to extend its legislative term for 30 days, starting from November 9.  LINK

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

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

Frank26   [Iraq boots-on-the-ground report]  FIREFLY:  Parliament just announced the next session will include amending the budget.  It's on TV now...Sudani wanted this done by the 6th, no later than the 7th and now they're come out 3 days later saying okay, okay okay we're going to do it.  TV keeps going over the parliament plans on amending the investment budget in the next two sessions that are coming... FRANK:  If they truly do anything with the budge it will be exposing the new exchange rate.

Militia Man  Article "Explains the new mechanism for external transfers after the platform is closed"  Here again we're learning they've changed the dollar auctions to the new reinforcement mechanism ...That's why you're hearing people squeaking pretty loudly about pricing going up on the streets because they can't get the dollar...

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

Iraq's GDP to Increase Why This Matters for IQD Rate

Edu Matrix:  1-9-2025

Iraq's GDP to Increase Why This Matters for IQD Rate - Iraq is set to embark on a transformative $17 billion project to construct a rail line and motorway to Turkey, generating a promising 20,000 jobs for its citizens!

This development signals a bright future for IQD investors. Dive into the application of Okun's Law, revealing the crucial link between GDP and unemployment rates.

Explore Iraq's ambitious infrastructure projects, including the Central Bank Tower and Grand Al-Faw Port, recognized as top mega projects for 2025 by The B1M.

Meanwhile, BRICS is expanding with nine new partners, now representing half of the global population and a significant portion of the economy. Discover the implications of these shifts, including internal conflicts regarding a common currency.

https://www.youtube.com/watch?v=M2bPmjxogj8

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 1-11-25

Good Afternoon Dinar Recaps,

RIPPLE'S RLUSD EXPANSION PLANS UNVEILED FOR MAJOR EXCHANGES, INCLUDING COINBASE LISTING STRATEGY

Ripple’s newly launched U.S. dollar-pegged stablecoin, RLUSD, is gaining momentum following its debut on Ethereum and the XRP Ledger last month.

Approved by the New York State Department of Financial Services (NYDFS), RLUSD has already been listed on Bitstamp, and Ripple is now in discussions with major exchanges like Coinbase to broaden its availability.  

Jack McDonald, Ripple’s Senior Vice President of Stablecoins, outlined the technical and strategic challenges of exchange listings during an interview. 

“It’s not just a handshake agreement,” he explained, emphasizing the need for exchanges to adapt to different blockchain protocols. Ripple’s CTO, David Schwartz, hinted at eventual expansion to additional networks, further increasing the stablecoin’s reach.  

Challenges in securing listings with major exchanges

Despite Ripple’s approval from NYDFS providing a regulatory edge, McDonald acknowledged the complexities of securing support from major exchanges like Coinbase and Binance, which often maintain exclusivity with certain stablecoins.

For instance, Coinbase’s close partnership with Circle’s USDC presents challenges, though McDonald believes Coinbase might gradually diversify its stablecoin offerings.  

Volume and demand are also critical factors. Exchanges assess the cost-benefit of listing new assets, considering both technical integration and the ongoing support required. “They want to make sure that there is demand for it,” McDonald noted.  

Looking ahead, McDonald predicts that institutional-backed issuers with strong compliance frameworks will dominate the stablecoin market. Smaller players may struggle to meet regulatory costs, leading to a consolidation of market share among established names. Liquidity, regulatory approval, and institutional relationships are likely to play pivotal roles in determining market leaders.  

Ripple’s focus on robust compliance and institutional support positions RLUSD as a key player in this evolving landscape, with further listings expected to drive adoption in 2025.  

In addition, Ripple collaborates with Chainlink to improve RLUSD adoption

@ Newshounds News™

Source:  Traders Union

~~~~~~~~~

XRP LEGAL BATTLE BEGINS ON WEDNESDAY

The SEC, the US Securities and Exchange Commission, has until January 15, 2025, to submit its initial brief on the Ripple case. The court had previously decided that XRP was not a security in and of itself when the appeal was filed.

The financial watchdog contesting some of the ruling’s findings, including how Ripple’s XRP sales on cryptocurrency exchanges and the private XRP sales of Chris Larsen and Brad Garlinghouse, two of the company’s executives, should be categorized. The upcoming brief will most likely revolve around those arguments.

SEC chair Gensler, who has spearheaded the agency’s vigorous targeting of the cryptocurrency sector, will resign on January 20. Donald Trump, the president-elect, will take office on the 20th.

Gary Gensler will be replaced as SEC Chair by Paul Atkins, suggesting possible adjustments to the agency’s stance on crypto regulation. The case may likely be resolved given Gensler’s departure.

Media reports predict that the SEC may cut back on or drop some crypto lawsuits. The SEC may instead prefer settlements, also known as “consent decrees,” which provide industry clarity and permit negotiated resolutions.

These settlements may help the industry meet regulatory requirements without completely abandoning cases by encouraging the SEC to create more precise guidelines and regulations.

Brad Garlinghouse, the CEO of Ripple, voiced optimism, pointing out that Atkins could “bring common sense back to the agency.” “XRP may solidify its non-security status and possibly start a bullish price trend if the SEC withdraws its appeal as a result of this leadership change.

@ Newshounds News™

Source:  FX Leaders

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps

FED Pivot Is DEAD: NO Interest Rate Cuts in 2025 as Economy Adds 256,000, Exceeding Expectations

FED Pivot Is DEAD: NO Interest Rate Cuts in 2025 as Economy Adds 256,000, Exceeding Expectations

Lena Petrova:  1-11-2025

The much-anticipated “pivot” by the Federal Reserve – the shift from aggressive interest rate hikes to potential cuts – appears to be firmly off the table, at least for 2025.

This conclusion comes hot on the heels of a robust jobs report that far exceeded expectations, adding 256,000 jobs to the U.S. economy. The data paints a picture of a labor market that remains surprisingly resilient, potentially dashing hopes for a change in monetary policy aimed at easing the pain of high borrowing costs.

For months, investors and economists have been parsing every piece of economic data, searching for signs that the Fed would soon begin to lower interest rates. The logic was straightforward: inflation had begun to cool, and the cumulative effect of prior rate hikes would eventually lead to a slowdown in economic activity, prompting the central bank to ease its grip. However, the latest employment figures throw a significant wrench into these expectations.

The unexpectedly strong job growth isn’t just a number; it’s a signal that the economy is still running hot. With more people employed, the potential for increased consumer spending and continued inflationary pressures remains very real. This puts the Federal Reserve in a precarious position.

 Their primary mandate is to ensure price stability and promote maximum employment. While employment is clearly strong, inflation, while lower than its peak, is still above the Fed’s target of 2%.

The Federal Reserve’s next move will largely depend on upcoming inflation data. If inflation remains stubbornly high despite the strong jobs market, the Fed will likely maintain its current stance. However, a noticeable cooling in inflation could still open the door for rate cuts, albeit later than previously anticipated.

The focus now shifts to subsequent economic reports.

As the Fed continues to monitor the economic landscape, investors and analysts will be closely scrutinizing inflation data, consumer spending figures, and any further shifts in the labor market. The narrative of a quick pivot, it appears, has been replaced by a more cautious and data-dependent approach.

While the strong employment numbers are a positive sign for the labor force, they present a new challenge for the Federal Reserve in their fight to curb inflation. The economic path forward remains uncertain, but one thing is now clear: the prospect of interest rate cuts in 2025 is far from guaranteed.

https://www.youtube.com/watch?v=iwBGFL8tRSg

News, Rumors and Opinions Saturday 1-11-2025

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Sat. 11 Jan. 2025

Compiled Sat. 11 Jan. 2025 12:01 am EST by Judy Byington

Global Financial Crisis:

Fri. 10 Jan. 2025: Rep. Buddy Carter has just introduced a bill to abolish the IRS and the Federal Income Tax.

Fri. 10 Jan. 2025: Major department store is closing 27 locations across 14 states. A major US retailer announced Thursday that it will be shutting down 27 locations across 14 states this year. Of those locations, 10 are located in California.  https://www.msn.com/en-us/money/companies/major-department-store-is-closing-27-locations-across-14-states/ss-BB1rdQ59

Read full post here:  https://dinarchronicles.com/2025/01/11/restored-republic-via-a-gcr-update-as-of-january-11-2025/

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

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

Frank26   Question:  "What do you think Iraq's time to allow international to exchange our notes?  That's their prerogative.  Normally when something like this happens the IMF works with that central bank of that country and they figure out a time frame.  It can be three months...six months.  It can be a year.  The Untied Sates of America never cancelled our 3 zero notes... America never stopped allowing 3 zero notes to be exchanged but I got a feeling Iraq will and they should.

Militia Man  Article: "Al-Nusairi: Explains the new mechanism for external transfers after the platform is closed"  We have been following this and we have been spot on...They finally have done what was expected. This is to get the Central Bank back to normalcy...with international standards. That it a fact. A very good thing to have had correct all along [in our] study of the Iraqi Dinar...

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

Silver Price ALERT: Why Andy Schectman Calls It the Opportunity of a Lifetime! | Silver Price 2025

Economy Express:  1-10-2025

Silver Price ALERT: The Untold Story Behind Andy Schectman’s Opportunity of a Lifetime! In today's video, we delve into the critical insights shared by Andy Schectman regarding the silver market and why he believes it represents an unparalleled investment opportunity.

 As the global economy faces unprecedented challenges, Schectman warns that the true value of silver is being suppressed, and a significant price discovery is imminent.

We explore the implications of Federal Reserve policies, rising interest rates, and the systemic risks facing banks. Discover how silver can serve as a hedge against inflation and why now is the time to consider diversifying your portfolio into tangible assets.

https://www.youtube.com/watch?v=4yRn39cG7fs

UN in Turmoil: BRICS Breaks the Chain of Western Control: End of US Influence as We Know It?

Fastepo:  1-11-2025

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

Seeds of Wisdom RV and Economic Updates Saturday Morning 1-11-25

Good Morning Dinar Recaps,

NEW HOUSE FINANCIAL SERVICES LEADERSHIP TARGETS DIGITAL ASSET REGULATION

The House Financial Services Committee has chosen leadership with an eye toward digital asset regulation.

Rep. French Hill (R-Ark.) announced the new appointments Thursday (Jan. 9), promising to “right-size the regulatory system for particularly community banks,” and “create a regulatory framework for digital assets that will protect investors and consumers.”

In addition, Hill said the committee would “ensure agencies are focused on their core statutory directed missions” and not political agendas.

The committee’s vice chairman — a position held by Hill in the last term — will be Rep. Bill Huizenga (R-Mich.). In addition, Hill said, Rep. Mike Lawler (R-N.Y.) will serve as vice chair for communications, and Rep. Mike Haridopolos (R-Fla.) will be committee whip, the latter to “ensure our Republicans are working together toward our common goal.”

In addition, the committee has announced chairs for its various subcommittees, including: Rep. Ann Wagner (R-Maine), Capital Markets; Rep. Andy Barr (R-Ky.), Financial Institutions; Rep. Bryan Steil (R-Wis.), Digital Assets, Financial Technology and Artificial Intelligence.

Rep. Warren Davidson (R-Ohio) was named chair of the Subcommittee on National Security, Illicit Finance, and International Financial Institutions, with Rep. Dan Meuser (R-PA) overseeing the Subcommittee on Oversight and Investigations. Lastly, the Subcommittee on Housing and Insurance will be chaired by Nebraska Republican Rep. Mike Flood.

As PYMNTS wrote earlier this week in a look at the upcoming legislative session, there have been a number of attempts at laws to create frameworks around digital asset markets.

For example, the Financial Innovation and Technology for the 21st Century Act was passed by the House but not the Senate. The act would, among other things, establish standards for digital assets and consumer protections, and segregation of funds.

And then there’s the question of cryptocurrency. Speaking with PYMNTS, Mike Katz, a partner in Manatt, Phelps and Phillips Financial Services Group, said that “despite the razor-thin Republican majorities, there is a growing bipartisan consensus in Congress around the need for thoughtful, innovation-focused crypto and AI legislation.

“It will be interesting to see if any digital asset bills are part of the tax-and-border-focused reconciliation package already being discussed in Congress. I’d expect a strong stablecoin bill to move quickly given existing bipartisan support,” he added.

@ Newshounds News™

Source:  Pymnts

~~~~~~~~~

BRICS NEWS:  BRICS: US DOLLAR REMAINS IN HIGH DEMAND, DE-DOLLARIZATION FAILING

The BRICS alliance which kick-started the de-dollarization agenda is now under the mercy of the US dollar in 2025. The US dollar remained in the green for nine consecutive days in the DXY index and tramping other local currencies. 

The Indian rupee has fallen to a lifetime low of 85.93 and is on the brink of dipping to the 86 level. The Chinese yuan and the Japanese yen are facing similar lows and are unable to take on the rising US dollar.

The US dollar singlehandedly outperformed all local currencies in 2025 taking the top spot in the currency markets. The USD has now reached a high of 109.30 in the DXY index and could breach its all-time high of 109.53. The currencies of BRICS members are the hardest hit despite the alliance pushing the de-dollarization agenda to bring the US dollar down.

BRICS: Here’s Why the US Dollar is Rising and De-Dollarization is Failing

The first boost to the dollar came in early January after US weekly Initial Jobless Claims declined to 201,000 from the previous 211,000. The US Department of Labor (DOL) published the report indicating that the jobs market could ease out leading to employability. 

In addition, Fed Governor Christopher Waller made an announcement saying that inflation could continue to fall in 2025. These two events early this month boosted the US dollar’s prospects and dented the BRICS’ de-dollarization initiative.

The BRICS bloc now remains under pressure as local currencies are facing an uphill task to sustain themselves. The raging US dollar is showing no signs of stopping and is taking the de-dollarization agenda by the horns. 

If the momentum persists, BRICS can only dream of de-dollarization and never make it a reality. The US dollar has sustained many whiplashes over the last seven decades and has faced all challenges head-on.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps

“Tidbits From TNT” Saturday Morning 1-11-2025

TNT:

Tishwash:  It can become a major source of income in the economy.. Al-Sudani directs the maturation of tourism projects

Prime Minister Mohammed Shia Al-Sudani stressed, today, Saturday (January 11, 2025), the necessity of investing in Baghdad as the capital of Arab tourism to launch tourism development projects, considering that it can be transformed into a primary source in the non-oil economy.      

The Prime Minister's media office stated in a statement received by "Baghdad Today" that "Al-Sudani chaired a meeting today, Saturday, devoted to presenting a package of tourism projects planned to be established in the capital, Baghdad, and the rest of the governorates."

According to the statement, Al-Sudani directed to work on maturing tourism projects and offering them as a single package, especially since developing this sector will contribute to strengthening and diversifying the national economy by activating vital sectors, including the tourism sector, which the government is keen to activate for the next stage, based on its government program.

He pointed out that tourism and its components are available in Iraq, and it is possible to transform into a basic source in the non-oil economy, with the availability of opportunities, local need, and the desire of citizens to benefit from and enjoy modern, advanced, and environmentally friendly tourism facilities. It also represents a gateway to expanding the elements of attraction for incoming tourism from abroad.

The Prime Minister explained the importance of investing in the opportunity of choosing Baghdad as the Arab Tourism Capital for the year 2025, building attractive tourist and entertainment facilities and installations, overcoming bureaucratic obstacles, and creating more suitable conditions to attract foreign investment in this sector. 

According to the statement, the meeting approved extending an invitation to a Spanish company specialized in tourism development in order to put projects related to this sector into action, as well as to develop the capabilities of specialized tourism cadres and keep pace with the latest developments witnessed by this sector globally.

21 tourism projects were also reviewed, including hotels, resorts, sustainable forests, cities and entertainment complexes in Baghdad and various governorates, which provide attractions, infrastructure and economic feasibility. link

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

Tishwash:  Iraq awaits "financial challenges".. Dollar scarcity, liquidity declines, and salary reserves are sufficient for 6 months

International economics expert Nawar Al-Saadi confirmed today, Friday (January 10, 2025), that Iraq is facing major and dangerous financial challenges, and these challenges must be avoided through real reforms.

Al-Saadi said in an interview with Baghdad Today that “the financial challenges in Iraq are ongoing, but recently they have begun to threaten its monetary stability and raise concerns about their impact on the government’s ability to pay salaries in the coming months.

 I do not believe that they will lead to an inability to pay salaries, as the Ministry of Finance has a reserve that may reach at least 6 months, but this concern stems from several data and indicators that have emerged recently, including that the Iraqi economy depends almost entirely on oil revenues, which represent the main source of government revenues, and any decline in global oil prices leads to a reduction in these revenues, which puts additional pressure on the general budget and increases the possibility of a financial deficit.”

He pointed out that "there are problems related to foreign currency management, as dollar smuggling operations have worsened through some unofficial outlets and weak supervision of banks, which has led to a shortage of dollars in the local market and a decrease in general liquidity. This affects monetary stability and puts the government in difficulty in financing salaries, especially with the increasing reliance on cash reserves to cover this deficit."

He added, "The banking sector suffers from a lack of confidence among citizens, as many prefer to keep their money outside the banking system, and this behavior contributes to reducing the cash flow available in the market, which adds further complexity to the financial situation."

The international economics expert concluded by saying, "In short, Iraq's financial situation requires urgent reform steps that include diversifying sources of income, improving revenue management, and enhancing citizens' confidence in the banking system, to avoid a liquidity crisis that could have broad repercussions on the economy and society." link

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

Tishwash:  Reveals details of the restructuring plan for Rafidain and Rashid Banks

An economic expert revealed the government’s plan to restructure its two banks, Rafidain and Rashid.

Salah Nouri told Al Furat News Agency, "The reasons for restructuring Rafidain and Rashid banks are the presence of bad financial assets, most of which are loans granted that were impossible to obtain before 2003, which led to a decline in the credit rating by international financial institutions and the refusal to deal with them."

He explained that "in order to restore international confidence in the two banks, it is necessary to restructure the two banks by excluding bad financial assets from the financial center of the two banks and using modern technology and establishing two parallel banks, one for Rafidain and the other for Rashid, to which the bad financial assets will be transferred."

He explained, "After separating Rafidain Bank into a bank that owns sound financial assets and another parallel Rafidain Bank that owns bad financial assets, as well as Rashid Bank into Rashid Bank that owns sound financial assets and Rashid Bank that owns bad financial assets, Rafidain and Rashid banks, which own sound financial assets, will be merged into one bank, as well as merging Rafidain Bank with bad financial assets with Rashid Bank with bad financial assets into one bank."

Nouri said that "the new bank after the merger with sound financial assets will practice cash and contractual credit activities and dealings with international financial institutions, but the new bank after the merger with sound financial assets needs capital support with not small amounts, and this must be determined by the party that supports the capital, according to the government decision."

He noted that "among the financial activities of the new bank is the use of artificial intelligence in addition to bank employees with high technical skills."

He continued that "the process of restructuring the two banks financially and organizationally since 2011 with the membership of the Federal Board of Financial Supervision, the Central Bank of Iraq, the international auditing firm EY, the Ministry of Finance and the two banks concerned, has stopped, and currently the process of restructuring the financial and organizational structure has been resumed by assigning the international auditing firm according to the methodology referred to above."

Prime Minister Mohammed Shia al-Sudani chaired a special meeting yesterday, Thursday, to discuss the development of the work of government banks, in the presence of representatives of Ernst & Young for Auditing and Financial Consulting.

The Prime Minister explained that "the completion rate of the project to restructure Rafidain Bank has reached its final stages, stressing that it will enter into force in the coming few days, within the framework of a plan that has been studied and implemented according to the established standards and specifications."

Meanwhile, the Prime Minister's financial advisor, Mazhar Mohammed Salih, revealed to {Al Furat News} that a new banking entity is about to be born in Iraq.

Salih said that "the study aims to establish a new banking entity specializing in government banking operations, to meet the needs of the government exclusively. This entity will contribute to achieving the goals of the unified treasury account, which is a crucial tool for regulating cash flows for public finances."

He pointed out that "the study focuses on evaluating the legal status of the two banks, including property rights, evaluating assets and liabilities, and studying the requirements of a strategic partner if necessary, with a focus on developing the two entities to operate according to advanced financial technology that meets the requirements of the national banking market."

He stressed that "the structural reform also aims to enhance the integration of the two banks into the national banking market and enable them to expand into global financial markets, especially in the areas of trade and investment financing for the private sector," indicating that "the two potential entities will rely on modern systems in compliance, governance and risk management, with a focus on digital payments."  link

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

Mot: . ARE YOU READY!!!??? --- I Am!!!

Mot: Over the Hill……

Seeds of Wisdom RV and Economic Updates Friday Afternoon 1-10-25

Good Afternoon Dinar Recaps,

XRP LAWSUIT: RIPPLE CTO REVEALS LEGAL STRUGGLES AND THE SILENCE HE WAS FORCED INTO

The ongoing legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) has gained widespread attention, carrying profound implications for the entire cryptocurrency industry. The lawsuit, which began in December 2020, accuses Ripple, along with its CEO Brad Garlinghouse and co-founder Chris Larsen, of raising over $1.3 billion through an unregistered securities offering by selling XRP.

In the midst of this high-stakes legal fight, Ripple’s Chief Technology Officer (CTO), David Schwartz, recently shared his thoughts on the situation. He opened up about the challenges posed by the lawsuit and the broader regulatory scrutiny faced by the crypto industry. 

He explained how the legal constraints surrounding the case prevented Ripple from addressing certain truths about the situation. “One of the things that most annoyed me about the lawsuit and the war on crypto was that there were things that were indisputably true that I could not say,” Schwartz said.

While Schwartz acknowledged the frustration of not being able to speak freely, he found some solace in seeing others express these truths on Ripple’s behalf. He added, “It definitely lifted my spirits to see someone else say them when I could not.”

Schwartz said that, despite his willingness to be more open about the matter, he believes discussing the past in detail would not be productive. He explained that, due to legal and strategic constraints, Ripple has been unable to directly combat misinformation, relying on the support of the XRP community, often referred to as the “XRP Army,” to help fill that gap.

Ripple Vs SEC Latest Update:

Judge Phyllis J. Hamilton has allowed Ripple CEO Brad Garlinghouse to keep some court documents sealed. This includes documents about judgments and expert testimony. Both Ripple and the SEC can keep these details private as the case moves to the next stage, following a rule to protect sensitive information.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

U.S. SENATE TO LAUNCH CRYPTOCURRENCY SUBCOMMITTEE, LUMMIS TAPPED AS CHAIR

In a significant move for the crypto industry, the U.S. Senate Banking Committee is set to create its first-ever subcommittee focused exclusively on cryptocurrency.

The U.S. Senate Banking Committee, under the leadership of Senator Tim Scott (R-S.C.), is poised to establish a dedicated cryptocurrency subcommittee to advance discussions on digital asset regulation and industry oversight, according to a report by Fox News.

The formation of this subcommittee, modeled after a similar House panel created in 2023, marks a pivotal step toward a more structured approach to crypto legislation at the federal level.

A Senate aide told Fox News that Wyoming Senator Cynthia Lummis, a staunch advocate for cryptocurrency, is the tentative choice to chair this groundbreaking panel. 

‘The selection of Lummis, pending a committee vote next Thursday, signals a shift in the Senate's approach to digital assets. Alongside her nomination, the subcommittee members, representing both Republican and Democratic sides, will also be finalized through the same voting process.

Lummis, known for her vocal support of Bitcoin, has described the asset as "freedom money" and has advocated for its potential to hedge against inflation and enhance financial independence.

She previously proposed a plan for the US to acquire a significant stake in the total Bitcoin supply through a 1-million-unit purchase program over a set period. "Establishing a strategic Bitcoin reserve to bolster the U.S. dollar with a digital hard asset will secure our nation's standing as the global financial leader for decades to come," Lummis said at the time.

Her leadership could steer the subcommittee toward developing a more balanced regulatory framework, fostering innovation while ensuring market integrity.

Senator Tim Scott first hinted at the possibility of forming a crypto-focused subcommittee during the Wyoming Blockchain Symposium last August. 

“Wouldn't it be kind of cool if we had a subcommittee on the Banking Committee... so that we bring more light to the conversation, more hearings on the industry, so that we get things done faster?” Scott remarked, highlighting his vision for streamlined legislative action.

This move comes as Scott replaces outgoing Chair Senator Sherrod Brown (D-Ohio), who maintained a more critical stance on cryptocurrency. Brown frequently called for stricter oversight, citing concerns about crypto's role in enabling illicit activities and circumventing sanctions. The change in leadership, coupled with the creation of a dedicated subcommittee, could lead to a friendlier regulatory environment for digital assets under the new administration.

Notably, the subcommittee will include other crypto-friendly lawmakers such as Senator Bill Hagerty (R-Tenn.) and newly elected Senator Bernie Moreno (R-Ohio), both vocal supporters of blockchain technology and cryptocurrency. Moreno, who defeated Brown in the November elections, has vowed to champion crypto-friendly policies in the Senate.

@ Newshounds News™
Source:  BlockHead

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps