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News, Rumors and Opinions Thursday 12-26-2024
KTFA:
Clare: Iraq establishes 'investment portfolio' to support stability of national currency
12/26/2024
The economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed Iraq’s first step after extinguishing its foreign debts towards establishing an investment portfolio to support the stability of the national currency.
Saleh explained to {Euphrates News} that: "Since 2004, after Iraq was able to extinguish $100 billion of its accumulated debts, which are called pre-1990 debts resulting from wars and conflicts, and with the improvement in the current account of the balance of payments, the first step taken by Iraq was to establish an investment portfolio of foreign reserves."
KTFA:
Clare: Iraq establishes 'investment portfolio' to support stability of national currency
12/26/2024
The economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed Iraq’s first step after extinguishing its foreign debts towards establishing an investment portfolio to support the stability of the national currency.
Saleh explained to {Euphrates News} that: "Since 2004, after Iraq was able to extinguish $100 billion of its accumulated debts, which are called pre-1990 debts resulting from wars and conflicts, and with the improvement in the current account of the balance of payments, the first step taken by Iraq was to establish an investment portfolio of foreign reserves."
He added, "Or what is called the country's foreign exchange reserves that perform the function of stabilizing the value of the national currency or what is called the external value of money."
Saleh said that "these assets that support the stability of the balance of payments and the national currency {i.e. foreign reserves} are one of the aspects of the sovereign funds called {quasi-sovereign wealth fund}."
He pointed out that "they differ from traditional sovereign funds in that their assets are characterized by high liquidity or investment in liquid or semi-liquid assets and are subject to a highly accurate diversification rule in foreign currencies and highly liquid financial investment tools by virtue of their function as international reserves supporting the balance of payments and stabilizing the value of the national currency." Raghad LINK
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Clare: Al-Sudani's advisor reassures via Shafaq News about the rise of the dollar: a temporary market bubble
12/26/2024
Mazhar Mohammed Saleh, the financial and economic advisor to Prime Minister Mohammed Shia al-Sudani, commented on Thursday on the rise in the exchange rate of the US dollar against the Iraqi dinar in the local market for days.
Saleh told Shafaq News Agency, "The difference between the two exchange rates in the market is basically stable for reasons related to controlling the sale of cash dollars from legal outlets to travelers in an organized manner and subject to a precise rule of compliance and auditing, in addition to the ability of the traveler to obtain other permitted amounts through payment cards in all their forms, and in sufficient and comfortable amounts at an exchange rate of 1320 dinars per dollar."
He added, "It is expected that the market, due to the end of the previous foreign transfer platform and the transition to new mechanisms for strengthening with foreign currency to meet the banks' needs for foreign currency to finance foreign trade, was accompanied by a wave of misinformation, misunderstanding and confusion that was exploited by the parallel market and speculators for quick profit."
He considered that this increase is "called a temporary market bubble that is built on unrealistic speculation and disappears over time, which requires attention to the phenomenon of exploitation and profiteering generated by false and baseless information."
The dollar exchange rate in local markets is witnessing a gradual increase, while this morning it recorded 152,000 dinars for every 100 dollars in the two main stock exchanges of Al-Kifah and Al-Harithiya in Baghdad, and 151,400 dinars for every 100 dollars in Erbil, the capital of the Kurdistan Region.
Yesterday, Wednesday, the economic and financial expert, Abdul Rahman Al-Mashhadani, attributed the main reason for the rise in the dollar price to the promotion of stopping the platform, indicating that “this rumor that spread showed that foreign transfers would stop.”
He explained that "this rumor is false, as 97% of the transfers made through the window were transferred to banks that have correspondent banks in a way that enhances the balances. The Christmas holiday is also another reason for the demand for the dollar, as there is a lot of travel during these days."
Al-Mashhadani expected that "the situation will stabilize and the dollar will return to its normal status after the holiday." LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY:
Television saying Iraq is buying huge amounts of gold and it's to offset the ending of the dollar exchange auctions.
Militia Man Article quote: "Iraq has gotten rid of the burden of foreign debts for the first time which had shackled it economically ...What remains of its debts to international parties constitutes less than $9 billion that will be paid between now and the year 2028." Iraq's going to have a lot of money. If you're going to be a creditor, people are going to be coming to you for money and Iraq is going to have a lot of it. To be fair, I think a lot of us are going to have a few dollar too because of it.
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What Must Happen Before the IQD Can Re-Adjust
Edu Matrix: 12-26-2024
What Must Happen Before the IQD Can Re-Adjust Exchange Rate - Discover the complexities behind Iraq's inclusion on the U.S. State Department's Level 4 "Do Not Travel" list in this enlightening video.
We delve into how travel warnings impact foreign investments, currency revaluation, and economic growth in Iraq. With millions of dollars at stake, learn why U.S. private investors remain cautious despite the potential for substantial returns.
Uncover the interconnected dynamics between security, investment, and Iraq's economic future. Our clear American voice guides you through the critical reasons Iraq remains in a holding pattern and how global financial interaction is essential for its growth.
BE CAREFUL! This Is SERIOUS..." The Whole SYSTEM Is COLLAPSING... - Peter Schiff
Economy 101: 12-26-2024
Seeds of Wisdom RV and Economic Updates Thursday Morning 12-26-24
Good Morning Dinar Recaps,
BRICS TO DITCH US DOLLAR FOR GOLD-BACKED CRYPTOCURRENCY
Over the last year, the BRICS bloc’s ongoing de-dollarization efforts have been a focal point. The collective has sought to limit Western hegemony and establish itself on the grander world stage. Amid its ongoing pursuits, could the BRICS bloc be in line to ditch the US dollar for a gold-backed cryptocurrency?
Good Morning Dinar Recaps,
BRICS TO DITCH US DOLLAR FOR GOLD-BACKED CRYPTOCURRENCY
Over the last year, the BRICS bloc’s ongoing de-dollarization efforts have been a focal point. The collective has sought to limit Western hegemony and establish itself on the grander world stage. Amid its ongoing pursuits, could the BRICS bloc be in line to ditch the US dollar for a gold-backed cryptocurrency?
The economic alliance has been stashing gold reserves for much of 2024, with many believing it could be for its own trade currency. Although the bloc has affirmed that it has no interest in a native currency, it has shown a recent embrace of cryptocurrency. Both could converge on a perfect answer for its ongoing greenback dilemma.
BRICS Cryptocurrency? Why Alliance Could Build Combine Gold & Bitcoin to Take Down US Dollar
The last two years have seen the global south continue to champion the term de-dollarization. Indeed, the economic alliance has sought greater ways to limit Western economic dominance. Throughout last year, the emergence of a BRICS currency has been the focal point of that.
Now, that pursuit has taken center stage. With Donald Trump emerging victorious in the 2024 presidential election, he has threatened 100% tariffs on nations abandoning the dollar. Truthfully, that presents BRICS with one true option: double down or abandon the idea.
To this point, they have opted for the former. But it may not stay that way, as BRICS could ditch the US dollar with a gold-backed cryptocurrency. Although the bloc has not yet announced such an idea, its maneuvering does favor its presence.
For the last two years, the bloc has ferociously accumulated gold reserves. That was supposed to be for an alliance trade settlement currency. Moreover, in 2024 they have opted to dial back opposition to the cryptocurrency sector. Earlier this month, Russian President Vladimir Putin said that no one could control Bitcoin.
That appeared to show his favor of the currency. Nations like China have followed suit, with many believing both could soon embrace digital assets. With an AI and technology alliance being formed under BRICS, blockchain technology could soon be at the forefront.
That would not stop the bloc from developing its very own currency that combines both matters. It would illicit some issues with the West but would also fast-track its ongoing de-dollarization plans. Moreover, it would establish BRICS as a clear global force.
@ Newshounds News™
Source: Watcher Guru
~~~~~~~~~
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Thank you Dinar Recaps
“Tidbits From TNT” Thursday Morning 12-26-2024
TNT:
Tishwash: Expert diagnoses two reasons behind the rise of the dollar against the dinar in Iraq
The economic and financial expert, Abdul Rahman Al-Mashhadani, attributed, on Wednesday, the reasons for the rise of the dollar against the Iraqi dinar to the rumor of the holidays and New Year's Day.
Al-Mashhadani said in an interview with Shafaq News Agency, "The promotion of stopping the platform is a major reason for the rise in the price of the dollar," indicating that "this rumor that spread showed that foreign transfers will stop."
He explained that "this rumor is false, as 97% of the transfers made through the window were transferred to banks that have correspondent banks in a way that enhances the balances. Also, the Christmas holiday is another reason for the demand for the dollar, as there is a lot of travel during these days."
TNT:
Tishwash: Expert diagnoses two reasons behind the rise of the dollar against the dinar in Iraq
The economic and financial expert, Abdul Rahman Al-Mashhadani, attributed, on Wednesday, the reasons for the rise of the dollar against the Iraqi dinar to the rumor of the holidays and New Year's Day.
Al-Mashhadani said in an interview with Shafaq News Agency, "The promotion of stopping the platform is a major reason for the rise in the price of the dollar," indicating that "this rumor that spread showed that foreign transfers will stop."
He explained that "this rumor is false, as 97% of the transfers made through the window were transferred to banks that have correspondent banks in a way that enhances the balances. Also, the Christmas holiday is another reason for the demand for the dollar, as there is a lot of travel during these days."
Al-Mashhadani expected that "the situation will stabilize and the dollar will return to its normal status after the holiday."
The price of the dollar rose gradually in local markets, where it recorded 152,300 dinars for every 100 dollars in the Al-Kifah and Al-Harithiya stock exchanges, and 152,200 dinars for every 100 dollars in Erbil, the capital of the Kurdistan Region. link
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Tishwash: Government Advisor: Iraq Seeks to Establish Sovereign Wealth Fund
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that Iraq is seeking to establish a sovereign wealth fund.
Saleh told Al Furat News Agency: "Iraq seeks to establish a sovereign wealth fund, especially after the conflicts and wars that have been going on for less than half a century, and the previous regime's major role in wasting the country's resources and wealth, have transformed the surplus in the current account of the balance of payments into a net deficit due to the deterioration of the national economy's export sectors, most notably the oil sector."
Saleh pointed out that "the increase in foreign debts in the past decades was an alternative to establishing a sovereign fund for foreign wealth that relies on surplus oil revenues that can be invested in a diversified investment portfolio whose returns support the state's general budget in general and the investment budget, according to the absorption capacity in particular, similar to countries such as Norway, China, the Gulf countries, and other countries of the world."
Iraq has previous experience in establishing a sovereign wealth fund, through the establishment of the Iraqi Fund for External Development, which was established under Law No. 77 of 1974. However, after that, the work of this fund was limited to managing Iraq’s financial contributions to regional and international organizations and bodies. There was also an attempt to establish two sovereign funds for Iraq in 2018, but they remained without practical implementation.
Countries' economies are divided into three categories based on their source of income: economies with diverse sources of income, economies with a single source of income (“single-basket economies”), and the third category is between them.
Iraq falls within the second group, as Iraq is considered a rentier state, due to its almost complete dependence on revenues from the sale of crude oil, as oil revenues constitute more than “90 percent” of the total revenues of the general budget, and contribute about “45-60 percent” of the formation of the gross domestic product. link
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Tishwash: Parliamentary Finance Committee comments on the fluctuation of the dollar price and threatens to host the Governor of the Central Bank of Iraq
Member of the Parliamentary Finance Committee, Jamal Kocher, described on Wednesday the fluctuation of the dollar exchange rate in the parallel market as "temporary", while he indicated that if the rise continues, we will head to host the governor of the Central Bank of Iraq.
Kocher told Shafak News Agency, "The Parliamentary Finance Committee is closely following up with the Central Bank the dollar exchange rate in the parallel market, and that the rise and fall of the exchange rate is temporary and not fixed."
He added that "if the rise continues during the coming period, there will be another opinion from the House of Representatives," adding that "the Finance Committee, if the rise continues, will head to host the Governor of the Central Bank in the House of Representatives."
The Iraqi market witnessed a significant increase in the exchange rate of the dollar against the Iraqi dinar, as it exceeded 150 thousand dinars for every hundred dollars, despite the government measures taken to control its price in the parallel market.
It is noteworthy that since the beginning of 2023, Washington has intervened to limit the smuggling of dollars from Iraq, which led to its price rising in the local market to a record level of 170,000 dinars per 100 dollars, due to the decline in the Central Bank of Iraq’s sales of dollars, before it declined again and the Central Bank returned to selling dollars at auction.
It is worth noting that currency smuggling is ongoing, despite controls on banks, and is carried out via bags transported overland to Turkey and Iran, after withdrawing dollars from the local market and not through the official dollar selling window. Specialists have called it “black transfers,” and it has become a phenomenon that has not been controlled at the moment.
In addition to the "black transfers", Iraq witnessed other operations to withdraw the dollar at its official price and sell it at the parallel market price, by exploiting the dollar granted to travelers, returning to Iraq and selling it to achieve large profits. The name "sailors" was given to those who do this work, especially some travel and tourism companies. link
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Mot: ... Dang!! -- Tough Night Hes Having fur Sure!!!
Mot: ......... How Can Ya Tell the age -----
Ariel: Iraqi Dinar Update, Now this is a Merry Christmas
Ariel: Iraqi Dinar Update, Now this is a Merry Christmas
Launched today?
No delay?
No postponement?
No July 2025?
But I thought that was what the CBI said?
Ariel: Iraqi Dinar Update, Now this is a Merry Christmas
Launched today?
No delay?
No postponement?
No July 2025?
But I thought that was what the CBI said?
Majeed: CBI Governor LAUNCHED Today
1-Launching strategic projects such as 1-instant payments,
2-local cards,
3- unified payment gateways.
4- Issuing regulations to license digital banks in Iraq.
5-Developing a robust technical infrastructure to support financial inclusion.
6-Enhancing cybersecurity through advanced tools and a dedicated management center.
Iraq News Update
“Now This Is A Merry Christmas”
This is a crazy development here. Totally out of left field but in the most amazing way for Iraqi citizens and the world. I knew something was brewing in the background. This can only mean one thing. Because this will definitely force their hand to act expeditiously in order to quell any potential instability in the market.
The only thing left to do is to pull the trigger anytime before January 1st
I would presume based on what just happened. I just do not see how they can survive without doing so.
When platforms facilitating currency transfers are suspended, liquidity tightens, and rumors about exchange rate fluctuations can spread rapidly. This can lead to panic in the markets as businesses and financial institutions anticipate changes.
A gap between the official exchange rate and black-market rates could widen. This could encourage the growth of parallel markets where currency is exchanged at higher rates, undermining the Central Bank’s control over monetary policy.
The logical next step to prevent destabilization might be for Iraq to introduce the new exchange rate. By doing so, they could:
• Stabilize market confidence.
• Reduce speculation.
• Align market forces with the anticipated economic reforms.
With the auctions suspended and the new year approaching, the window for inaction is small. Iraq may be positioning itself for a currency adjustment or revaluation before January 1st to avoid starting 2025 with uncertainty.
Majeed: banks going international in Iraq…. CBI is not holding auction anymore It was stopped yesterday ….all of a sudden going to Forex “Economist Ziad Al-Hashemi revealed on Monday that the Central Bank of Iraq was suddenly suspending the operation of the dollar transfer platform before the scheduled date and without an official announcement and without taking into account the interests of Iraqi companies and markets, in a step that is said to be far from professionalism and transparency”
This is what you will be doing.
Currency Conversion = IQD/USD
Brothers Technology inc: Ariel You’re Absolutely correct, However I have to ADMIT THAT NO AUCTION = Internationalization of Iraqi Banks = International Iraqi Dinar = International Iraqi Stock Exchange merry Christmas has a new meaning and merry Christmas
People allow Iraq to assess the market. They just did something extremely bold ahead of the date they were supposed to do it so something obviously changed behind the scenes that prompted them to jump the gun. I presume corruption and other factors were on their mind.
Iraq’s financial reforms are deeply tied to international politics and negotiations. If the exchange rate affects international contracts, IMF agreements, or regional trade deals, the delay may indicate ongoing negotiations behind the scenes.
So I was not expecting them to do another gutsy move on top of that by reinstating immediately after they just suspended the dollar transfer without any warning which even they called unprofessional for how this was carried out. Obviously someone is ready to get this over with.
Because the auctions were being exploited to siphon dollars out of Iraq, contributing to black-market activity and weakening the dinar. Ending them suddenly prevents further a***e. So this major step by itself sets up Iraq to make another adjustment. Which is the new exchange rate.
So please allow them to monitor their next move with caution as many of you were expecting them to drop another wild maneuver on the markets without a heads up when they have international contracts in place is not a smart thing to do. Which is why they have yet to disclose how much Kurdistan is getting.
This just accelerated de-dollarization and Iraq is pushing to reduce reliance on the U.S. dollar and strengthen the dinar. Halting auctions forces local markets to transition faster to dinar-based transactions. Which is what will give citizens their purchasing power. Not to mention the HCL stipends.
Read:
Majeed: They promised to pay either on Thursday or Saturday…. Saturday is already out of question Because Forex will be closed, they cannot pay them inside the country with different rate because it will be exposed on the media Thursday today, my time …..They’re coming back to work in 6 hours and 10 minutes from now …..This is their only option to pay Kurdistan with the new rate if they were up to their promise.....plus the auction was stopped as the article said Who’s gonna handle the international transaction today if it wasn’t the banks? Plus the best listing days for currencies, Tuesday, Wednesday Thursday
More News, Rumors and Opinions Wednesday PM 12-25-2024
Gold Telegraph: All Eyes on the Federal Reserve for 2025
Dec 24, 2024
The majority of economists once focused on predicting events with accuracy. Now, their role has shifted to crafting illusions designed to deceive. Imagine doing this for a living?
2025 will be the golden age.
Let’s hope we are entering an era where the Federal Reserve is finally held accountable, enabling a world buried in debt and crushing the economic future of generations to come.
Gold Telegraph: All Eyes on the Federal Reserve for 2025
Dec 24, 2024
The majority of economists once focused on predicting events with accuracy. Now, their role has shifted to crafting illusions designed to deceive. Imagine doing this for a living?
2025 will be the golden age.
Let’s hope we are entering an era where the Federal Reserve is finally held accountable, enabling a world buried in debt and crushing the economic future of generations to come. New article soon.
ALL EYES ON THE FEDERAL RESERVE FOR 2025?
Elon Musk says the Federal Reserve is overstaffed. Understatement.
For 25 years, they have papered over every crisis with a flood of excessive credit, creating illusions of stability while deepening the cracks.
Get this:
In 2022, the Federal Reserve spent $5 billion on salaries and pensions for 23,000 employees.
This averaged: $217,000 per employee.
Earlier this year, Jerome Powell declared it’s long overdue for an adult conversation on unsustainable fiscal policy.
Ironically, The Federal Reserve fuelled this path by anchoring rates at zero for years. Something has to give?
BREAKING NEWS: THE BIGGEST BANKS ARE PLANNING TO SUE THE FEDERAL RESERVE OVER THE ANNUAL BANK STRESS TESTS
Merry Christmas.
“In July, the groups accused the Fed of being in violation of the Administrative Procedure Act, because it didn’t seek public comment…”
Japan’s finance minister has issued another warning about excessive foreign exchange fluctuations. He says the country is ready to step in and stabilize the yen. U.S. Treasuries…
Merry Christmas and Happy Holidays everyone.
https://dinarchronicles.com/2024/12/24/gold-telegraph-all-eyes-on-the-federal-reserve-for-2025/
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KTFA:
Clare: Expert diagnoses two reasons behind the rise of the dollar against the dinar in Iraq
12/25/2024
The economic and financial expert, Abdul Rahman Al-Mashhadani, attributed, on Wednesday, the reasons for the rise of the dollar against the Iraqi dinar to the rumor of the holidays and New Year's Day.
Al-Mashhadani said in an interview with Shafaq News Agency, "The promotion of stopping the platform is a major reason for the rise in the price of the dollar," indicating that "this rumor that spread showed that foreign transfers will stop."
He explained that "this rumor is false, as 97% of the transfers made through the window were transferred to banks that have correspondent banks in a way that enhances the balances. Also, the Christmas holiday is another reason for the demand for the dollar, as there is a lot of travel during these days."
Al-Mashhadani expected that "the situation will stabilize and the dollar will return to its normal status after the holiday."
The dollar price rose gradually in local markets, recording 152,300 dinars for every 100 dollars in the Al-Kifah and Al-Harithiya stock exchanges, and 152,200 dinars for every 100 dollars in Erbil, the capital of the Kurdistan Region. LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 IMO the lower denominations, the lower notes that will be passed out are now in the [Iraqi] banks, are now in the position ready to be handed over to the citizens...
Frank26 There is a plethora of very good informative monetary reform education articles that are coming out that are causing this great pressure of information, a venturi effect of information to the Iraqi citizens. This is the time to do that...We say to ourselves, 'Wow! They're telling the citizens they're going to add value to their currency by giving them purchasing power by lifting the three zeros from the exchange rate. Wow!'...This monetary reform education right now, it's so much of it. It's cornucopia that is filled. It's a piñata that got busted open and it's spilling everywhere, every day.
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'Get the Hell Out of Credit' - Only Gold Survives Coming Collapse: Alasdair Macleod
Commodity Culture: 12-25-2024
Alasdair Macleod believes that interest rates rising signal an impending collapse of the credit market that will wipe out stocks, bonds, and crypto without prejudice, and when that event occurs, only gold in your hand will provide some salvation.
Alasdair hones in on the 10 Year Treasury rate and why it's flashing red, in addition to discussing recent massive deliveries of both gold and silver on the COMEX, why Russia may be headed towards a gold standard, and much more.
00:00 Introduction
00:40 Interest Rates Hold the Key
07:22 Danger of Rising Yields on Treasuries
11:36 Massive COMEX Deliveries
19:41 Huge Gold Demand in Asia
23:33 Is Silver Truly Undervalued?
31:26 Geopolitical Uncertainty
38:54 Canada's Economic Woes
The Collapse of the US Empire
The Collapse of the US Empire
WTFinance: 12-24-2024
In a recent episode of the WTFinance podcast, host John Smith welcomed back the renowned economist and social critic, Professor Richard Wolff.
Known for his compelling critiques of contemporary economic systems and his role as the Founding Director of Democracy at Work, Wolff brought his expertise to the discussion on the economics of 2024 and what the future may hold for the United States and the global economy.
As the world approaches 2024, Wolff highlighted several significant economic trends that could shape the year. One of the key themes was the potential for another “Roaring Twenties,” a term often associated with the economic boom following World War I in the United States.
The Collapse of the US Empire
WTFinance: 12-24-2024
In a recent episode of the WTFinance podcast, host John Smith welcomed back the renowned economist and social critic, Professor Richard Wolff.
Known for his compelling critiques of contemporary economic systems and his role as the Founding Director of Democracy at Work, Wolff brought his expertise to the discussion on the economics of 2024 and what the future may hold for the United States and the global economy.
As the world approaches 2024, Wolff highlighted several significant economic trends that could shape the year. One of the key themes was the potential for another “Roaring Twenties,” a term often associated with the economic boom following World War I in the United States.
Wolff noted that while the conditions for such a renaissance might exist, the reality is tempered by internal challenges facing the U.S., such as income inequality, labor unrest, and political polarization.
Wolff discussed the inward-looking nature of the U.S. economy, which has shifted in recent years due to various factors, including geopolitical tensions and a pandemic-driven re-evaluation of global supply chains. He posited that this inward focus could lead to both challenges and opportunities for growth.
A resurgence of domestic manufacturing, for instance, may boost local economies, but it requires a careful balance of investment in technology and workforce development.
Another critical aspect of the conversation revolved around the effects of large-scale migration on the U.S. economy. Wolff emphasized that an influx of immigrants can lead to wage increases across various sectors. The resulting demographic shift could drive demand for goods and services, stimulating economic growth. However, he cautioned that without proper integration policies and support systems, tensions could arise, impacting the overall economic landscape.
As the discussion progressed, Wolff articulated a vision for systemic change to alter the current economic trajectory. He stressed the importance of collective action, both in the workplace and within communities, to challenge the status quo.
Wolff called for policies that promote cooperative business models, worker ownership, and equitable distribution of resources as means to create a more just economy. By empowering workers and encouraging grassroots movements, he believes society can effectively counteract the dangers of a collapsing economic system.
Perhaps the most impactful message from Wolff’s conversation was the emphasis on collective action as a necessary tool for change. In a world grappling with economic uncertainty and inequality, the notion that individuals can come together to drive systemic reform was a powerful reminder of the potential for social and economic transformation.
Wolff encouraged listeners to engage in conversations about alternative economic structures and to explore new avenues for collaboration and community empowerment.
The WTFinance podcast episode featuring Professor Richard Wolff provided a thought-provoking analysis of the upcoming economic landscape of 2024. From the possibilities of a renewed economic boom to the challenges posed by migration and systemic inequality, Wolff’s insights are invaluable for anyone seeking to understand the complexities of modern economics.
As we move forward into a new year, his call for collective action and systemic reform remains a crucial reminder of the power of community in shaping a more equitable economic future.
News, Rumors and Opinions Wednesday AM 12-25-2024
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Special Restored Republic via a GCR Update as of Wed. 25 Dec. 2024
Compiled Wed. 25 Dec. 2024 12:01 am EST by Judy Byington
Judy Note: In other news Christmas used to be celebrated on Jan. 6 before the changeover from the Julian Calendar to the Gregorian Calendar. Evidently the Global Military Alliance is doing other things this Christmas and is going to wait until Jan. 6 2025 to celebrate Christmas.
If the Black Swan Event were to happen over the holidays, the Stock Market would go into turmoil starting Thurs. 26 Dec. 2024
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Special Restored Republic via a GCR Update as of Wed. 25 Dec. 2024
Compiled Wed. 25 Dec. 2024 12:01 am EST by Judy Byington
Judy Note: In other news Christmas used to be celebrated on Jan. 6 before the changeover from the Julian Calendar to the Gregorian Calendar. Evidently the Global Military Alliance is doing other things this Christmas and is going to wait until Jan. 6 2025 to celebrate Christmas.
If the Black Swan Event were to happen over the holidays, the Stock Market would go into turmoil starting Thurs. 26 Dec. 2024
~~~~~~~~~~~~~~~~~~
(RUMORS)
Christmas Eve and Christmas Day: Operation Silent Night will target Elite strongholds under holiday cover Christmas Eve and Day. https://eraoflight.com/2024/12/24/military-alliance-launches-full-force-global-strikes-as-deep state-falls/
American Airlines has halted all flights across the U.S. on Christmas Eve due to a “technical fault” in their system, says FAA. Flights of other airlines were being delayed or cancelled due to extreme snow storms.
If the Black Swan Event were to happen over the holidays, the Stock Market would go into turmoil starting Thurs. 26 Dec. 2024.
ISO20022 tokens like XRP, XLM, XDC were part of the new Global Financial System along with silver & gold. Expect cyber outages.
When the EBS happens it will last from 10 to 12 days:
There will be a EBS message sent over phones, TV and radio around the Globe saying that in the next five hours or so, everyone needed to be home for a global lockdown that would last 10 to 12 days.
NESARA will be announced to the world, which will show that EVERYTHING NEW is beginning.
At the end of the 12 days, they will give out an 800 number for individuals to call to obtain an appointment to set up your Quantum money account on the new Starlink Satellite System.
There were 75 Deepstate Banks that were seized and all assets and accounts closed. All the C***l’s Central Banks have been taken over, with assets entered into the Quantum Financial System (QFS).
The QFS is run on Blockchain where nothing fraudulent can happen because everything is traceable. They can see where all money goes, which stops corruption in its tracks.
Apparently all people have a sum of money in an individual Quantum Financial Account.
The seized assets of the Cabal were moved to those Quantum Financial Accounts of The People. All monies in trust funds were moved to individual QFS accounts. All our bank accounts, savings accounts and retirement accounts were safe in the new Quantum System.
The only monies not reflected in individual Quantum Accounts were investments and shares on the Stock Market. All that will be gone! It is advised to get out of the Stock Market immediately.
Read full post here: https://dinarchronicles.com/2024/12/25/restored-republic-via-a-gcr-special-update-as-of-december-25-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY:
All banks according to Mr. Sammy have stopped all cash transfers from today to January 7th as part of early inventory. We have declared a two-day holiday on Christmas and then the next day. This is the first time that we've ever done anything like that on Christmas. FRANK: Soon you will have purchasing power for the first time in a long time. FIREFLY: This will also mark the end of using or handling cash as ever before...We're going digitally with a new rate...
Mnt Goat “REASONS FOR THE DELAY IN SENDING GENERAL BUDGETS IN IRAQ AND ITS ECONOMIC REPERCUSSIONS” ...Iraq is trying desperately to fix the system they have in place of budgeting. The article tells us the system has been an ongoing issue and needs to be fixed. It lists the issue involved and is very informative. I will tell everyone...The hold up of the budget is NOT about the RV...I can tell you for sure with 1000% assurance the hold up of the budget implementation is NOT due to waiting for the new RV rate.
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Anchored in Gold: A Conversation with Dr. Judy Shelton (Little By Little)
Andy Schectman/Miles Franklin: 12-24-2024
In this illuminating interview, Andy Schectman has the honor of speaking with Dr. Judy Shelton, a distinguished economist, monetary policy expert, and former Federal Reserve nominee.
Dr. Shelton is celebrated for her incisive views on global economics and her steadfast advocacy for sound money principles. Her work has been at the forefront of critical discussions about monetary stability and the enduring role of gold in a shifting financial landscape.
For Andy, with over 35 years of experience in the precious metals industry, it was an extraordinary privilege to engage in this conversation with one of the most respected voices in economics.
Dr. Shelton’s expertise and clarity bring unparalleled depth to this timely discussion on the future of money, financial stability, and the principles that underpin a strong global economy.
This is a must-watch dialogue that will inspire and inform anyone interested in the intersection of monetary policy and the enduring value of gold. Don’t miss it!
“Tidbits and Merry Christmas From TNT” Wednesday Morning 12-25-2024
TNT:
Tishwash: Parliamentary Finance: The budget will be passed with integrity and fairness
Member of the Parliamentary Finance Committee, Hussein Al-Saabari, confirmed today, Tuesday, that the proposed tables in the draft budget law are under study, and it is expected that they will be finally passed.
Al-Saabari stressed in a statement to the Al-Maalouma Agency, “the necessity for the budget to be real and reflect everyone’s interests,” warning that “some amendments may benefit some parties at the expense of others, which is unacceptable.”
He explained that "the budget must be fair and just for all Iraqis, while ensuring that resources are distributed in a way that achieves the public interest without prejudice to the rights of any party."
TNT:
Tishwash: Parliamentary Finance: The budget will be passed with integrity and fairness
Member of the Parliamentary Finance Committee, Hussein Al-Saabari, confirmed today, Tuesday, that the proposed tables in the draft budget law are under study, and it is expected that they will be finally passed.
Al-Saabari stressed in a statement to the Al-Maalouma Agency, “the necessity for the budget to be real and reflect everyone’s interests,” warning that “some amendments may benefit some parties at the expense of others, which is unacceptable.”
He explained that "the budget must be fair and just for all Iraqis, while ensuring that resources are distributed in a way that achieves the public interest without prejudice to the rights of any party."
He pointed out that "the draft budget law has not yet reached Parliament, and that the Council and its Finance Committee are ready to receive it as soon as it arrives."
It is noteworthy that the House of Representatives previously hosted Prime Minister Mohammed Shia Al-Sudani and his deputies, the Minister of Planning, the Minister of Foreign Affairs, and the Minister of Interior, where the amendments to the budget for next year 2025 were discussed . link
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Tishwash: Central Bank of Iraq launches strategic projects to support digital transformation
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Al-Alaq, announced the launch of strategic projects to support digital transformation in the country.
In a speech during the fourth annual international scientific conference, which was titled (Digital Financial Services - Challenges of Reality and Future Foresight), His Excellency the Governor stressed that "the Central Bank has paid great attention to digital transformation as one of its goals within its third strategic plan for the years from 2014 to 2026 to enhance the efficiency of banking work, improve financial performance, and meet customer needs in light of rapid technological development."
His Excellency noted that "the Central Bank has taken great steps to support digital transformation by developing the technical infrastructure and issuing regulations and instructions that contribute to enhancing financial inclusion," referring to "the start of launching strategic projects, including the instant payments project, local cards, and unified payment gateways, as well as issuing controls to license digital banks in Iraq, taking into account cybersecurity requirements and the risks associated with this transformation."
His Excellency added that "cybersecurity is one of the most important challenges facing us today, so the Central Bank has launched projects to enhance cybersecurity by developing the tools and systems of the Cybersecurity Management Center, and adopting an advanced approach to enhance the cybersecurity of the Central Bank and the banking sector."
His Excellency stressed "the Central Bank's commitment to continue its efforts to achieve financial digital transformation and enhance innovation and sustainability in the financial sector."
Central Bank of Iraq
Media Office
December 24, 2024 link
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Tishwash: What are Iraqis waiting for after the news of the "sudden suspension" of the dollar selling platform by the Central Bank?
Financial and banking expert Alaa Al-Fahd commented today, Tuesday (December 24, 2024), on the impact of the Central Bank’s suspension of the “platform” on the markets during the next stage.
Al-Fahd told Baghdad Today, "The Central Bank of Iraq worked during the previous period with a plan through a currency auction in the first phase, then establishing the electronic platform and intensive work to find correspondence methods between local banks and foreign banks with which we have commercial relations and their results in external transfers. Therefore, the bank announced some time ago that the platform will be stopped at the end of this year and there will be direct correspondent banks."
He explained that "this is a natural matter, as all central banks in the world are tasked with maintaining monetary policy, not selling currency. There is no central bank in the world that sells currency and mediates in buying and selling currency. This work is the responsibility and responsibility of banks and exchange companies. This is true and is a major challenge until the relations are direct commercial banking under the supervision of the Central Bank of Iraq."
He added, "Stopping the platform will not affect the local markets in terms of the dollar exchange rate, but there are those who are trying to spread rumors that this step will change the exchange rate, as the same dollar that the Central Bank of Iraq was selling through the platform will be sold to banks and banks that have relations with foreign banks so that the transfer is direct according to electronic transactions and monitoring, and for this reason the situation is under control and there is no fear of the impact on the markets."
Yesterday, Monday, economic expert Ziad Al-Hashemi revealed that the Central Bank of Iraq had suddenly suspended the dollar transfer platform before the scheduled date, without an official announcement, and without taking into account the interests of Iraqi companies and markets, in a move that is, to say the least, far from professionalism and transparency.
Al-Hashemi said in a post on the social networking site "Facebook", which was followed by "Baghdad Today", that "stopping the platform without an official announcement by the Central Bank may indicate that there is uncertainty and fear of the consequences of stopping the platform on the dollar exchange rates, and the lack of announcement may give the Central Bank an opportunity to evade and evade the decision to stop the platform and return to operating the platform, even temporarily, in the event that the dollar begins to rise to high rates link
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Mot: When Ya Needs to do it Once a Year!!!! Siiggghhhhh
Mot: Warning!!! -- In these Final Moments!!!!
Mot: ......... The List!!!!
“Bits and Pieces” in Dinarland Tuesday Afternoon 12-24-2024
Ariel: Iraqi Dinar Update, Strategic Window
12-23-2024
Iraqi Dinar Update
I can understand why this would be the case for the Central Bank of Iraq and determine a cohesive strategy for their new exchange rate. As we know speculation can run wild once they reinstate their currency.
Releasing a new exchange rate during a period when markets are closed or less active, such as during Christmas, could indeed provide a strategic window.
This timing allows for adjustments in the currency valuation without the immediate pressure or volatility that might come from active trading. This could minimize the risk of speculative attacks or undue market reactions.
Ariel: Iraqi Dinar Update, Strategic Window
12-23-2024
Iraqi Dinar Update
I can understand why this would be the case for the Central Bank of Iraq and determine a cohesive strategy for their new exchange rate. As we know speculation can run wild once they reinstate their currency.
Releasing a new exchange rate during a period when markets are closed or less active, such as during Christmas, could indeed provide a strategic window.
This timing allows for adjustments in the currency valuation without the immediate pressure or volatility that might come from active trading. This could minimize the risk of speculative attacks or undue market reactions.
Introducing the new rate just before the weekend gives the Forex markets time to adjust over a couple of days before the new week starts.
This buffer can be useful for banks, traders, and the financial systems to recalibrate without the intensity of a full trading week’s pressure right away. Will everything go according to this plan? Not sure but it does make perfect sense.
As we know others are saying they could delay it to July 2025 because of the digital transformation. Which I highly disagree with.
Because for one Starting a new fiscal year with an adjusted rate would simplify financial reporting and economic planning for businesses and government entities.
It allows for a clean slate where all financial transactions from January 1, 2025, would be based on the new rate, reducing confusion and making economic analysis more straightforward.
While full digitalization by July 2025 might be an ambitious goal, Iraq has already taken significant steps towards digital banking. The introduction of digital payment methods, mobile banking apps, and efforts to reduce cash reliance indicate a progressive move towards digital finance.
This groundwork suggests that even if full digitalization isn’t complete, substantial progress has been made, potentially sufficient to handle a currency revaluation without needing to wait until July 2025.
CryptoTrader: Last year they revalued dinar to 1310 on February 7th,Which was a Tuesday. Here is the theory. Tomorrow being Tuesday and Christmas eve they can revalue after the US markets close as all forex closes till 5 pm Christmas day. They have ample time just like Sunday and it's a perfect diversion . It will hit forex on boxing day which is Thursday .2 days of adjustments on forex and 2 days of weekend. And people can start exchange from 30th Monday which is a new moon day. Lot of financial market positive moves happen on new moon ,historically. And like Sudani promised its just 1 day before the year end.
https://dinarchronicles.com/2024/12/23/ariel-prolotario1-iraqi-dinar-update-strategic-window/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY:
Mr. Sammy said with this auction stopping the value would have to be added to stop the chance of a collapse of the currency. FRANK: That's brilliant simple words but so well said. Specific manicured words that defines it exactly...This is checkmate. There is no other move.
Nader From The Mid East I feel it's very very, we are very very very very close. Very close. Like very close guys. I feel like once they stop the auctions everybody is going to be happy about it. I think it's going to be stopping on the 28th...70% to 80% [chance].
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KTFA:
Clare: Iraq suspends official work tomorrow, Wednesday
12/24/2024
The Iraqi government decided to suspend official work tomorrow, Wednesday, on the occasion of Christmas.
A brief statement received by Shafaq News Agency stated that the Council of Ministers voted to consider tomorrow, Wednesday, December 25, 2024, an official holiday, on the occasion of Christmas.
Christmas, celebrated on December 25 of each year, is considered one of the most important religious and social occasions in the Christian world. These holidays symbolize the birth of Jesus Christ and are characterized by manifestations of joy and spiritual contemplation.
In Iraq, Christmas is an important religious and social occasion celebrated by Christian sects, where prayers are held in churches amidst a spiritual atmosphere, cities are decorated with trees and lights, and celebrations reflect the values of coexistence and peace among the various components of Iraqi society. LINK
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Why Gold Will Dominate in 2025, Dollar Collapse | Alasdair Macleod
Soar financially: 12-24-2024
In "2025 - Collapse is Coming", Alasdair Macleod discusses the largest credit bubble in history, the risk of fiat currency collapse, and gold’s role as a safe haven. Learn about the debt traps facing major economies, the geopolitical challenges shaping markets, and what to expect in 2025.
Timestamps
00:00 Intro
01:16 Alasdair Macleod Introduction
02:25 Year in Review: 2024 Highlights
05:00 The Largest Credit Bubble in History
09:15 Geopolitical Shifts and Their Impact
12:47 BRICs and Currency Wars
16:10 Middle East Tensions and Implications
19:32 Central Banks Buying Gold
23:05 Economic Outlook for 2025
27:45 Impact of Rising Interest Rates
31:30 The Fed’s Debt Trap
35:10 Gold vs. Fiat Currencies
39:00 The Role of Commodities in 2025
42:20 Protecting Wealth Amid a Collapse
46:05 The Rise of Debt Traps Globally
50:20 Challenges for Western Economies
54:15 Real Money vs. Credit
57:45 Viewer Takeaways and Final Thoughts
1:00:30 Closing Remarks
“Tidbits From TNT” Tuesday 12-24-2024
TNT:
Nassif: Government reforms contributed to Iraq's exit from foreign debt risks
MP Alia Nassif confirmed on Monday that the current government has achieved important economic reforms, most notably Iraq’s exit from the dangers of foreign debt.
"One of the most important economic reforms of the current government is to free Iraq from the risks of foreign debt after paying most of it off over the past two years," Nassif said in a statement reported by the official news agency and seen by Al-Eqtisad News.
"Our economy has become more secure and not shackled by debt," she added, expressing her hope "to move in the coming period from a rentier economy to a productive economy through an agricultural industrial revolution
TNT:
Nassif: Government reforms contributed to Iraq's exit from foreign debt risks
MP Alia Nassif confirmed on Monday that the current government has achieved important economic reforms, most notably Iraq’s exit from the dangers of foreign debt.
"One of the most important economic reforms of the current government is to free Iraq from the risks of foreign debt after paying most of it off over the past two years," Nassif said in a statement reported by the official news agency and seen by Al-Eqtisad News.
"Our economy has become more secure and not shackled by debt," she added, expressing her hope "to move in the coming period from a rentier economy to a productive economy through an agricultural industrial revolution link
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Tishwash: What are Iraqis waiting for after the news of the "sudden suspension" of the dollar selling platform by the Central Bank?
Financial and banking expert Alaa Al-Fahd commented today, Tuesday (December 24, 2024), on the impact of the Central Bank’s suspension of the “platform” on the markets during the next stage.
Al-Fahd told Baghdad Today, "The Central Bank of Iraq worked during the previous period with a plan through a currency auction in the first phase, then establishing the electronic platform and intensive work to find correspondence methods between local banks and foreign banks with which we have commercial relations and their results in external transfers. Therefore, the bank announced some time ago that the platform will be stopped at the end of this year and there will be direct correspondent banks."
He explained that "this is a natural matter, as all central banks in the world are tasked with maintaining monetary policy, not selling currency. There is no central bank in the world that sells currency and mediates in buying and selling currency. This work is the responsibility and responsibility of banks and exchange companies. This is true and is a major challenge until the relations are direct commercial banking under the supervision of the Central Bank of Iraq."
He added, "Stopping the platform will not affect the local markets in terms of the dollar exchange rate, but there are those who are trying to spread rumors that this step will change the exchange rate, as the same dollar that the Central Bank of Iraq was selling through the platform will be sold to banks and banks that have relations with foreign banks so that the transfer is direct according to electronic transactions and monitoring, and for this reason the situation is under control and there is no fear of the impact on the markets."
Yesterday, Monday, economic expert Ziad Al-Hashemi revealed that the Central Bank of Iraq had suddenly suspended the dollar transfer platform before the scheduled date, without an official announcement, and without taking into account the interests of Iraqi companies and markets, in a move that is, to say the least, far from professionalism and transparency.
Al-Hashemi said in a post on the social networking site "Facebook", which was followed by "Baghdad Today", that "stopping the platform without an official announcement by the Central Bank may indicate that there is uncertainty and fear of the consequences of stopping the platform on the dollar exchange rates, and the lack of announcement may give the Central Bank an opportunity to evade and evade the decision to stop the platform and return to operating the platform, even temporarily, in the event that the dollar begins to rise to high rates link
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Tishwash: Dollar Auction.. What is the truth about stopping the Central Bank’s platform for currency conversion?
A responsible source in the Central Bank of Iraq revealed, on Monday evening, the truth about stopping the Central Bank's platform for currency transfer starting today.
The source told Shafak News Agency, "The talk about the official suspension of the Central Bank's platform for the currency transfer window, on today's date 12/23/2024, is incorrect. Today, the auction worked normally and there is no official decision to suspend it so far."
The source, who requested anonymity, added, “This platform will be stopped at the end of this year, according to what the bank officially announced. This does not mean stopping transfer operations, as some are trying to promote. However, after this step, there will be direct dealings between banks and correspondent banks, and not canceling transfer operations, as is being promoted. The issue is not limited to specific banks, but rather the process will be much broader.”
The responsible source in the Central Bank stated that "many Iraqi banks have the capabilities to deal directly with correspondent banks and operate in accordance with the work of advanced global banking sectors." link
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Tishwash: Al-Sudani is considering inviting American companies to work in the port of Faw
Prime Minister Mohammed Shia Al-Sudani discussed, today, Monday, with the Ministers of Oil and Electricity, in addition to specialized advisors and a number of undersecretaries in the two ministries, extending an invitation to specialized American companies to establish a fixed gas platform in the Grand Faw Port.
Prime Minister Mohammed Shia Al-Sudani chairs a meeting on energy projects.
Prime Minister Mohammed Shia Al-Sudani chaired a meeting today, Monday, on oil and electricity sector projects, in the presence of the Ministers of Oil and Electricity, in addition to specialized advisors and a number of undersecretaries in the two ministries.
During the meeting, the gas projects that are being implemented within the government program were discussed, as well as the timetable set for their completion, especially since there is an increase in the levels of stopping the burning of associated gas, as the percentage currently stands at 67 percent, and it is hoped to reach 80 percent by the end of next year, leading to a complete cessation of burning by the end of 2027.
During the meeting, the invitation to specialized American companies to establish a fixed gas platform in the Grand Faw Port was also discussed.
The meeting discussed inviting international energy companies to invest in natural gas fields, in addition to discussing the plan to supply fuel to power plants at the present time and for the coming months. link
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Mot: . That's an excellent way to look at it
Mot: .. So What Do Reindeer Dream About ---
Iraq Economic News And Points To Ponder Tuesday AM 12-24-24
Stopping The Dollar Transfer Platform...A Calculated Step Or A Risky Adventure?
December 23, 2024 Baghdad/Iraq Observer The Central Bank of Iraq is scheduled to abandon the electronic platform for dollar transfers abroad at the end of this year, which has raised questions about whether this decision indicates the abandonment of the Iraqi Central Bank and the US Federal Bank’s mechanisms for monitoring the movement of the dollar,
or is it a step towards adopting a new system that may It contributes to reducing sharp fluctuations in the exchange rate and returning it to its natural levels that are consistent with the requirements of the local market and the national economy.
Stopping The Dollar Transfer Platform...A Calculated Step Or A Risky Adventure?
December 23, 2024 Baghdad/Iraq Observer The Central Bank of Iraq is scheduled to abandon the electronic platform for dollar transfers abroad at the end of this year, which has raised questions about whether this decision indicates the abandonment of the Iraqi Central Bank and the US Federal Bank’s mechanisms for monitoring the movement of the dollar,
or is it a step towards adopting a new system that may It contributes to reducing sharp fluctuations in the exchange rate and returning it to its natural levels that are consistent with the requirements of the local market and the national economy.
The electronic platform was launched in early 2023 as a new mechanism aimed at auditing dollar transfers before they are implemented, replacing the previous system that relied on auditing by the US Federal Bank after the transfers were completed, which was considered a step to enhance transparency, improve control of the movement of funds, and ensure compliance with financial laws.
At that time, banks, companies and merchants in Iraq faced major challenges in adapting to the new mechanism, as it required time to understand the working mechanisms and ensure compliance with the requirements.
However, these entities were able to adapt gradually, especially after bank employees underwent extensive training courses on using the electronic platform, which contributed to achieving full compliance with the new work procedures and ensuring the smooth flow of financial operations.
According to the new transfer mechanism, banking operations in dollars will be limited to banks that have international banking relationships, or what are known as “correspondent banks.”
Concern and reassurance
Both the Central Bank of Iraq and the US Federal Reserve believe that this step will contribute to strengthening oversight of remittances in a more precise and specialized manner, by restricting transactions to a limited number of banks that have high banking standards and the ability to cooperate with international banks, which aims to reduce financial risks and ensure Compliance with international controls.
In turn, Mustafa Akram, a researcher in financial and banking affairs, said that
stopping work on the electronic platform (FITR) and restricting dollar transfers to a limited number of foreign banks may pose challenges to the local banking system, indicating that
“this step may raise concerns about the concentration of transactions in dollars.” “In a limited range, which may lead to effects on exchange rate stability.”
Akram added to “Iraq Observer” that “there is a need for a deeper study of the impact of these measures on competitiveness in the Iraqi banking sector, while emphasizing the importance of preserving banking sovereignty and enhancing balance in the local market.”
Possible bounces
In light of these movements, news was raised about a trend towards making a new adjustment to the exchange rate, which raised concern among economists about the potential impact of this trend on the economic process in general.
Experts stressed that sudden changes in monetary policy may create additional confusion in the markets and weaken confidence in the financial system.
For his part, economic expert Uday Al-Alawi stressed that
“the biggest mistake the government can make is manipulating the dollar exchange rate through sudden decisions, because this has a direct impact on the national economy and undermines investors’ confidence in the financial system.” Al-Alawi added, in a press comment, that
“the government’s continued making of ill-considered decisions regarding the exchange rate will lead to the erosion of international and local confidence in the Iraqi economy, which will weaken the ability to attract the investments necessary to improve the economic reality.”
Economists fear the possibility of some banks not included in the transfers going to meet the requirements of their customers towards the parallel market, which could lead to a return to the rise of the dollar in Iraq. https://observeriraq.net/إيقاف-منصة-تحويلات-الدولار-خطوة-محسوب/
An expected rise in the dollar...a “temporary shock” awaiting the Iraqi market
Economy | Yesterday, 19:49 |
Baghdad today - Baghdad
Today, Monday (December 23, 2024), the "Future Iraq" Foundation for Economic Studies and Consultations expected a rise in the dollar exchange rate during the next few days, following the Central Bank of Iraq's announcement of stopping the currency conversion window platform.
The head of the institution, Manar Al-Obaidi, said in a statement to “Baghdad Today” that
“stopping the Central Bank’s currency transfer platform, which was officially announced on 12/23/2024, will lead to a temporary rise in the dollar exchange rate in the market as a result of the prevailing state of fear.”
However, things will return to normal at the beginning of the new year.” Al-Obaidi added,
"This decision had been previously announced by the Central Bank,
but such measures, when implemented, cause a shock in the market, leading to a temporary rise in the exchange rate, before the shock is gradually absorbed." He explained that
"the difference between the official and parallel market will remain, but it will shrink as the situation stabilizes."
On Tuesday (December 17, 2024), economic affairs specialist Nasser Al-Tamimi warned of a rise in the dollar exchange rates in Iraq in the coming days. Al-Tamimi told “Baghdad Today” that
“there are real fears in the Iraqi market about the continued rise in dollar exchange rates after the platform was suspended by the Central Bank of Iraq,” noting that
“this matter will constitute a shock, especially at the beginning of the implementation of the decision and will push for a rise.” The dollar, to increase demand for it in the parallel market.” He added,
"After stopping the platform, most merchants, especially small ones, will depend on the parallel market to finance their foreign trade, while continuing to finance trade with Iran and Turkey with dollars, in illegal ways," pointing out that
"this is what will push the rise and that is why practical steps must be taken to prevent This is done by the monetary authority in the country, and urgently.”
On Wednesday (September 4, 2024), the Central Bank of Iraq revealed the mechanism for ending the electronic platform for external transfers, while
indicating that placing external transfer operations and meeting requests for the dollar is on sound paths and consistent with international practices and standards.
https://baghdadtoday.news/264515-ارتفاع-مرتقب-للدولار.-صدمة-مؤقتة-بانتظار-السوق-العراقي.html
New Conditions From The Iraqi Central Bank For Buying And Selling Foreign Currencies
December 23, 2024 Baghdad/Iraq Observer Today, Monday, the Central Bank of Iraq set new conditions for buying and selling foreign currencies. Below is the document:
https://observeriraq.net/wp-content/uploads/2024/12/IMG_9748.jpeg
https://observeriraq.net/شروط-جديدة-من-المركزي-العراقي-لبيع-وشر/
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[approximate and incomplete translation of https://observeriraq.net/wp-content/uploads/2024/12/IMG_9748.jpeg ]
DATE: 2024/12/22 Electronic payment companies / two accessories
Exchange and mediation companies selling and selling foreign currencies
5 / Digital payment providers
Due to the availability of all the requirements for appointing the agent mentioned in (Chapter Two /
First / The Requirements of the Agent) from controls
The work of the providers of digital payment services for a year 2020 and the fact that exchange companies are my category (A,B) and the mediation companies by selling and selling
Foreign currencies Venice (C) licensed from this bank and is subject to its supervision and monitoring; The following decides:
1- Allowing exchange companies Vinte (A,B) and mediation companies to buy and sell foreign currencies (C) Digital payment services / accessories to provide cash withdrawal service (POC) according to the following conditions:
1- The agency/ executor in the name of the company should be limited and not owned by natural people.
A- The agency's services are provided inside the company’s headquarters and its branches exclusively.
B- The company informs this bank when contracting with the digital payment service and providing it with a copy of the signed contract The two parties.
C- Closing the agency / port in the event that this bank withdraws the company's leave.
D- The agency's domestic payment service for the agency took a written pledge from the company wishing to contract with him not to own any
A shareholder / executive and operating outside the exchange of the exchange or mediation company.
2- In the event that one of the shareholders or director of the exchange and mediation companies has an agency / port in his name and works outside the headquarters
The company can integrate the agency / port with the company and allow it to transfer its ownership in the name of the company in exclusivity and inform this bank that
An exception to the blindness of this bank number (114/10/9) on 2/22/2022, which includes not transferring the ownership of agents/withdrawals outlets POC; In the event that the agent / the perpetrator wants to leave the work, the digital payment companies must end the contract and take
The appropriate procedures for them not to sell the agency's ownership and its transmission.
With appreciation. https://observeriraq.net/شروط-جديدة-من-المركزي-العراقي-لبيع-وشر/
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/
Seeds of Wisdom RV and Economic Updates Tuesday Morning 12-24-24
Good Morning Dinar Recaps,
RIPPLE CEO REVEALS GROWING REAL ESTATE DEMAND FOR XRP TESTING
▪️Brad Garlinghouse revealed that there has been an increase in demand for XRP not only as a payment solution within the real estate sector but also in the trade finance and insurance sectors.
▪️With the financial landscape shifting towards more efficient and secure solutions, Ripple stands at the forefront of this transformation, leveraging the advantages of XRP to enhance cross-border payment systems securely.
Good Morning Dinar Recaps,
RIPPLE CEO REVEALS GROWING REAL ESTATE DEMAND FOR XRP TESTING
▪️Brad Garlinghouse revealed that there has been an increase in demand for XRP not only as a payment solution within the real estate sector but also in the trade finance and insurance sectors.
▪️With the financial landscape shifting towards more efficient and secure solutions, Ripple stands at the forefront of this transformation, leveraging the advantages of XRP to enhance cross-border payment systems securely.
Ripple CEO Brad Garlinghouse has revealed that there is an increase in demand for XRP as a preferred payment solution within the real estate sector. Ripple is proactively working to boost the asset’s adoption, recognizing its potential in transforming transaction methodologies.
This growing interest is not only a testament to the efficacy of blockchain technology in facilitating seamless transactions but also highlights the evolving landscape of property sales and investments.
The real estate market has traditionally been bogged down by lengthy processes, high transaction costs, and a lack of transparency, making it a prime candidate for disruption.
The founder identified other industries ripe for innovation, including insurance, trade finance, and identity management, in the interview shared on X by RippleLord, a Ripple enthusiast.
Ripple’s Payment Network in Real Estate
Ripple and the real estate sector stand to mutually benefit from each other, particularly as there is a growing demand from customers for Ripple’s deeper involvement in trade finance.
Ripple’s solutions have the potential to streamline processes and enhance operational efficiency, particularly in areas like global payments and title management, where inefficiencies have long hindered the real estate industry.
At the core of Ripple’s offerings is Ripple Payments, which was previously named RippleNet and utilizes advanced blockchain technology to facilitate efficient fund transfers for institutions around the world. Brad Garlinghouse emphasized that businesses are keen to explore how Ripple’s cutting-edge solutions can improve cross-border payments and minimize transaction friction.
This need for modernization is particularly relevant today, as existing payment systems often leave users waiting weeks for transactions and facing high fees.
Ripple Payments provides a decentralized network for banks and financial institutions globally, utilizing products built on the XRP blockchain, such as xCurrent for cross-border payments and xRapid for cheap and fast transactions.
Ripple seeks to collaborate with traditional financial institutions and real estate companies rather than replace them. Garlinghouse compares Ripple’s transformative potential to the internet’s evolution, noting its ability to change various sectors, including real estate, fundamentally.
As revealed in a CNF article, XRP’s permissionless nature and its On-Demand Liquidity (ODL) feature are particularly advantageous for real estate transactions. ODL enables international payments by using XRP to facilitate more efficient cross-border transactions.
This feature also provides instantaneous settlement, enhanced reliability, and reduced transaction costs, critical elements for real estate deals that often involve multiple currencies.
Currently, Ripple Payments supports over 55 countries and connects to more than 120 fiat currencies, simplifying the management of international transactions for real estate professionals.
As XRP continues to gain recognition in the payments landscape, each unit is trading at $2.21, with a notable decrease of 2.94% in the last 24 hours. XRP’s trading volume of $ 11 billion has decreased by 9.30%, signaling a recent fall in market activity.
@ Newshounds News™
Source: Crypto News Flash
~~~~~~~~~
HOW MOONPAY PLANS TO REVOLUTIONIZE CRYPTO PAYMENTS
MoonPay, a fintech company has become a major player in crypto since its launch in 2018. Led by CEO Ivan Soto Wright, the platform helps investors buy and sell cryptos as well as NFTs easily. It is like a PayPal but for cryptocurrencies. The project is capturing the spotlight as there are news about them acquiring Helio pay, a crypto payment gateway.
MoonPay Role in Crypto Space
MoonPay has launched innovative crypto payment solutions like MoonPay Balance. This is a fiat to crypto transfer tool that works seamlessly with wallets like MetaMask. Rolled out in 27 European countries last month, this feature gives users a straightforward way to interact with decentralized finance (DeFi) protocols. But the company isn’t stopping there. A potential acquisition of Helio Pay, rumored to cost $150 million, might be their next big leap.
Helio Pay Acquisition News
Helio Pay is no small name in the crypto world. The platform is like Coinbase Commerce, helping over 6,000 merchants and creators accept payments in Bitcoin, Ether, and other digital currencies. It even integrates Solana Pay into Shopify, a platform with millions of users globally. This is going to be an amazing combo as MoonPay already serves more than 20 million users in over 160 countries.
According to Eleanor Terrett from Fox Business, MoonPay is in in talks to acquire helio for about $150 million.
If this acquisition goes through, this is going to be a big thing for crypto space especially for e-commerce merchants and their users. MoonPay will get to expand its reach and e-commerce will get enhancement with its services. How great would it be if you could use crypto to buy stuff online just like using a credit card — easy and simple.
Why This Matters
This potential deal highlights MoonPay’s ambitions of making crypto transactions easier for individuals. This will reshape how businesses and users interact with cryptocurrencies. Adding Helio Pay to their portfolio would strengthen their infrastructure. This would finally bring crypto payments into the mainstream. As crypto adoption grows globally, this is the perfect time to bring such enhancements to crypto payments.
What to Expect Next
If the Helio acquisition deal is closed, this will likely spark even more innovations in the crypto payment space. The company already has a bright name because of its focus on easing the crypto payments, the new takeover will shine the name even more. It’s just a matter of time before the actual confirmation comes out.
@ Newshounds News™
Source: Coinpedia
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Thank you Dinar Recaps
News, Rumors and Opinions Tuesday AM 12-24-2024
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Tues. 24 Dec. 2024
Compiled Tues. 24 Dec. 2024 12:01 am EST by Judy Byington
Judy Note: On Mon. 23 Dec. there was no news about setting exchange/redemption appointments. As far as I know Tier4b needs to exchange before Jan. 1 2025 because that is the date the General Public will be (allegedly) notified that the World is free of the Cabal and on a new Financial System of The People.
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 Tues. 24 Dec. 2024
Compiled Tues. 24 Dec. 2024 12:01 am EST by Judy Byington
Judy Note: On Mon. 23 Dec. there was no news about setting exchange/redemption appointments. As far as I know Tier4b needs to exchange before Jan. 1 2025 because that is the date the General Public will be (allegedly)notified that the World is free of the Cabal and on a new Financial System of The People.
I am convinced that the RV is coming to us very soon. Just today on Mon. 23 Dec. 2024 the Iraq Bank of International Trade opened it’s doors. That means the Kingpin of the GCR – the Iraqi Dinar – is international. Think about the implications of that.
I am taking a much needed break and this will be my last Update until after the holidays, unless, of course, Tier4b (us, the Internet Group) receives news about setting our exchange/redemption appointments. If so, I will immediately send out an Update.
I wish you all a very Merry Christmas with a glorious New Year of Freedom from the Cabal.
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Possible Timing:
On Sat. 14 Dec. 2024 Debt Forgiveness & Wealth Redistribution (allegedly) Began: millions worldwide reported canceled mortgages, student loans, and credit card debts. Official encrypted messages confirm this is just the beginning.
Sun. 15 Dec. 2024: The beginning of the new Restored Republic Fiscal Year. (allegedly)
Mon. 16 Dec. 2024: Banks began (allegedly) changing over to the new financial system as the Global Currency Reset (allegedly) rolled out.
Tues. 17 Dec. 2024: XRP, RLUSD, Iraqi Dinar went public. Redemption Centers (allegedly) became fully operational. Banking Systems were (allegedly) beginning to process the new gold/ asset-backed US Treasury Note (USTN).
Wed. 18 Dec. 2024: Beginning of Global Financial Collapse. …G***o TV on Telegram Tues. 3 Dec. 2024
Mon. 23 Dec. 2024 Trade Bank of Iraq went International.
Thurs. 26 Dec. 2024: Announcement of the Global Restoration Plan. Every citizen will receive information about the new economic and legal structures. …Mr. Pool, Julian Assange on Telegram Wed. 4 Dec. 2024
Mon. 30 Dec. 2024: Final stages of the transition to the new financial system (allegedly) completed. People will (allegedly) begin to access their revalued currencies and debt relief programs. …Mr. Pool, Julian Assange on Telegram Wed. 4 Dec. 2024
By Tues. 31 Dec. 2024, Redemption Centers will (allegedly) be open to the general public.
Wed. 1 Jan. 2025: Basil 4 compliance deadline January 2025 – all banks have to (allegedly) prove the money they have in their vault is backed by gold. A new era of Freedom and Prosperity officially begins. …Mr. Pool, Julian Assange on Telegram Wed. 4 Dec. 2024
Early Jan. 2025: The EBS is set to begin ten days of Communication Darkness.
Wed. 1 Jan. 2025: The R&R payments and Social Security increases will(allegedly) begin.
Fri. 3 Jan. 2025: Global Unity announced as former Alliances restructure. Leaders will present plans for long term peace and cooperation across nations. …Nesara/Gesara on Telegram 5 Dec. 2024
Sun. 5 Jan. 2025: Release of (allegedly) advanced technologies previously suppressed. Free energy devices, healing technologies and environmental restoration tools will be made (allegedly) available to the public. …Nesara/Gesara on Telegram 5 Dec. 2024
Mon. 6 Jan. 2025: The Quantum Financial System (QFS) will officially(allegedly) be activated Worldwide. This secure, transparent and decentralized system will replace the old banking structure, ensuring fairness and equality for all …Nesara/Gesara on Telegram 5 Dec. 2024
End of March 2025: The US Fiat Dollar will be(allegedly) phased out, no longer worth anything.
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Global Financial Crisis:
Mon. 23 Dec. 2024 Dow Hit With Sledgehammer: https://finance.yahoo.com/news/the-dow-gets-hit-with-a-sledgehammer–how-worried-should-you-be-133022256.html
Read full post here: https://dinarchronicles.com/2024/12/24/restored-republic-via-a-gcr-update-as-of-december-24-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 The introduction of all these foreign currencies [to transact in for import/export] is the introduction of the international basket where [the dinar] will be paired and the new exchange rate will exist and grow. I'm excited because they're stopping the CBI auctions and replacing them with value for your currency to deal with other currencies that have their own value...
Jeff The second half of December was a very critical period to Iraq. Why? During the second half of December is when Iraq pauses and suspends their credit and lending practices which work off the value of the country's currency. If Iraq is going change the value of their currency, they would need to pause and suspend credit and lending practices. That's why it's important.
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"Right Now, Things Are So Out Of Whack It's INSANE" - Mike Maloney
12-23-2024
Are we on the brink of a severe recession—or could the markets somehow keep soaring? In this eye-opening discussion, Mike Maloney and Alan Hibbard unveil the key data points that have signaled every modern recession without fail.
From year-over-year employment metrics to the notorious yield curve inversion, you’ll see why they believe “things are so out of whack it’s insane.”
Plus, learn about the “Blood Indicator,” a little-known composite gauge that’s flashing red, and find out why the Federal Reserve’s early rate cuts could be a sign that they see something lurking just around the corner.
What You’ll Learn:
Which employment trends pinpoint recessions with startling accuracy
Why today’s yield curve inversion is historically deep—and what it means How consumer sentiment is plunging to record lows
The “Blood Indicator” that’s never been wrong Why the Fed’s rate cuts suggest they’re bracing for impact
Whether you’re a seasoned investor or just waking up to the economic storm clouds, this is the data you can’t afford to ignore. Buckle up—something big could be around the corner.