Seeds of Wisdom RV and Economic Updates Tuesday Morning 5-6-25

Good Morning Dinar Recaps,

THUNE SIGNALS GOP WILLING TO COMPROMISE ON STABLECOIN BILL AS SENATE VOTE NEARS

Senate Republicans back off fast-track push as Thune opens door to Democratic demands ahead of GENIUS Act floor vote.

▪️ Senate Majority Leader John Thune signaled openness to Democratic amendments on the GENIUS Act ahead of a key floor vote.

▪️ The move comes after nine Senate Democrats issued a joint statement opposing the bill without stronger safeguards.

▪️ Republicans need at least seven Democratic votes to advance the legislation, which would create a federal framework for stablecoins.

Senate Majority Leader John Thune (R-SD) has acknowledged that Republicans would need to seek a more open stance with Democrats if the party hopes to advance the U.S.’s first comprehensive federal regulatory framework for dollar-pegged digital assets.

With a full floor vote looming on the GENIUS Act before Congress' August recess, pressure for a compromise is mounting as partisan tensions surrounding the landmark legislation threaten to boil over.

"Changes can be made on the floor for sure," Thune said, speaking to reporters from Congress on Monday, as first quoted by Politico. Thune said he’s "waiting to see what it is [Democrats] are asking for."

Thune's gesture shows the GOP is dialing back and slowing down from Sunday, when he initiated expedited procedures to advance the bill.

Republican leaders had hoped to hold a vote as early as Thursday this week.

But those plans hit a roadblock after nine Senate Democrats, including four previously open to the bill in committee, released an opposing statement a day before it was expedited.

The Democrats cited the need to add "stronger provisions" on key issues, including anti-money laundering, foreign issuers, national security, financial safety, and accountability.

Despite holding 53 Senate seats, the Republican caucus needs to secure at least seven Democratic votes to overcome the last hurdles for passage.

What's at stake?

The GENIUS Act allows nonbank stablecoin issuers to operate in the U.S. economy, providing key protections for consumers using the technology for daily needs.

A stablecoin is a digital currency designed to maintain a consistent value by pegging it to a fixed asset like the U.S. dollar. Stablecoins, unlike Bitcoin, offer predictability for daily transactions by backing their value with cash or other stable assets.

With it, banks and non-bank institutions could issue stablecoins if they hold 1:1 reserves in high-quality liquid assets. House lawmakers, meanwhile, have proposed more restrictive reserve requirements in their competing STABLE Act.

If signed into law, the bill would address a regulatory gap that has persisted for years as stablecoins grew to over $240 billion in market capitalization, data from CoinGecko shows.

@ Newshounds News™
Source:  Decrypt

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BITWISE CIO WARNS OF CHALLENGING SUMMER FOR CRYPTO IF CONGRESS 'FUMBLES THE BALL' ON LEGISLATION

▪️Bitwise CIO Matt Hougan has warned of a mounting risk for crypto in Washington D.C., leading to a challenging summer for the industry if legislative efforts are derailed.

▪️However, Hougan remains optimistic that most crypto assets can trade to new all-time highs this year if Congress can get stablecoin and market structure bills passed.

Bitwise Chief Investment Officer Matt Hougan said he is increasingly concerned that the U.S. Congress will "fumble the ball at the one-yard line" on crypto regulation, warning that the industry is in for a difficult summer if legislative efforts fizzle out.

Hougan remains optimistic about the outlook for crypto this year, with a base case for most digital assets to reach all-time highs and bitcoin to rise above $200,000. However, despite the seemingly positive backdrop under the Trump administration, "crypto can still be derailed by politicians", he said.

Crypto rallied after the U.S. presidential election in November, partly on the assumption that Washington would take a more positive stance toward crypto. 

The first 100 days of Trump's tenure have seen the creation of a Bitcoin Strategic Reserve, digital assets named a "national priority," the SEC reversing crypto-related lawsuits and accounting rules and the end of Operation Choke Point 2.0. However, these initiatives have all stemmed from the White House, meaning they could easily be reversed by future administrations, Hougan warned in a note to clients late Monday.

"To move crypto forward, we need Congress to pass legislation enshrining crypto's progress in law," he said. "Congress passing at least one crypto bill would show that Democrats and Republicans can align on crypto and make it more difficult for future regimes to undo progress."

The stablecoin bill debacle

Hougan had expected stablecoin legislation to rapidly pass this year, broadening crypto's access to the traditional market, creating a new profit center for Wall Street and providing a huge buyer of U.S. debt as a tool to extend dollar dominance globally. A "win, win, win," he said.

In mid-March, this seemed to be on track as the Senate Banking Committee voted 18 to 6 to pass a stablecoin bill, called the GENIUS Act, out of committee, Hougan noted. In that vote, five Democrats on the committee broke ranks to support the bill, with Senate Minority Leader Chuck Schumer also backing it.

The bill would require stablecoins to have 100% reserve backing with U.S. dollars and short-term treasuries (or other similarly liquid assets), monthly public disclosure of reserves and annual audits for issuers with more than $50 billion in market capitalization. The bill also lays out strict marketing standards, guidelines on insolvency proceedings and other provisions.

However, over the weekend, nine Democrats, including four of the five who backed the bill in committee and Schumer himself, pulled their support, just days before the bill was set to hit the floor of the Senate. The Democrats argued that the bill needs stronger provisions on national security and anti-money laundering policy.

The bill requires 60 votes to pass in the Senate; with Republicans controlling only 53 seats, a bipartisan deal is a must. "We have a choice here," Republican Senator Bill Hagerty, one of the authors of the bill, wrote in response. 

"Move forward and make any remaining changes needed in a bipartisan way, or show that digital asset and crypto legislation remains a solely Republican issue."

"The change in tune reflects the shifting political environment in Washington," Hougan said. 

"The amended version of the bill is actually stronger on AML/KYC and other items than the version that passed out of the Banking Committee, suggesting the Democratic about-face has more to do with President Trump's slumping approval rating and rising chatter over his crypto-related conflicts of interest than any substantive concern."

Hougan also argued that lobbying efforts from the crypto industry to combine stablecoin legislation with broader market structure legislation are not helping. "This is the perfect becoming the enemy of the good," he said. "Market structure legislation is extremely important to crypto's long-term future, but lumping things together will make the passage of any bill more difficult."

What's next?

Beyond the GENIUS Act uncertainty, House Democrats are reportedly planning to walk out of a joint congressional hearing on crypto market structure legislation scheduled for Tuesday as pressure mounts over concerns about President Donald Trump's forays into digital assets.

Another stablecoin bill, known as the STABLE Act, has been advancing in the House. World Liberty Financial, a DeFi project backed by Trump, also recently launched its own stablecoin.

While the future of the GENIUS Act has been thrown into question in its current form, and political jockeying threatens to undermine progress on other crypto-related legislation, Hougan still expects the stablecoin bill to ultimately pass.

"Stablecoins are too obviously beneficial — to America, the dollar, merchants, entrepreneurs, and others — for petty political jockeying to derail progress," he said. 

"The next few days and weeks will be fraught. If legislation fizzles, this could be a challenging summer for crypto. But if Washington can get its act together, I think the bull market will be unstoppable."

@ Newshounds News™
Source:  The Block

~~~~~~~~~

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“Tidbits From TNT” Tuesday Morning 5-6-2025

TNT:

Tishwash:  Al-Sudani confirms the continuation of banking reform and directs bank managements to simplify procedures..

Prime Minister Mohammed Shia al-Sudani chaired a meeting on Monday with the chairmen of the boards of directors of Iraqi banks. The meeting discussed mechanisms for implementing the banking reform plans prepared by the government as part of comprehensive economic sector reforms.

Al-Sudani said in a statement received by Al-Eqtisad News that "all sectors of the state are linked to the existence of an effective and flexible banking system that relies on modern technologies." He pointed out that the government has adopted comprehensive plans for banking reform and contracting with private financial auditing companies, which include all banks, and has made great strides in implementation.

 He indicated that the work of the First Rafidain Bank will be launched with a new look and vision, and in partnership with specialized and well-known banks.

He pointed to "the formulation of a clear roadmap to address the situation of the private banking sector, as a partner in development," stressing the need for cooperation during the next phase to take effective steps in reforming the economy. He emphasized the state's distancing from detailed intervention in sectors and adopting the role of a regulator, indicating the need to work on intervening in all mega projects, as well as supporting local productive sectors, and absorbing the imported cash flow in providing domestic goods and services to citizens to be an alternative to imports, and to ensure support for local investment.

The Prime Minister directed banks to "simplify procedures, participate broadly in the development process, participate as investors in all available opportunities, move toward partnerships with foreign companies, and work to build trust with citizens, which will help ensure they feel secure depositing their money in banks."

For their part, the heads of the Iraqi banks’ boards thanked the government for its “support for the banks and its assistance in solving their problems, and they confirmed the rise in credit and financial accreditation indicators.

They also pointed to the rise in trading via electronic payment from (1.7) trillion dinars in 2020, to reach (21) trillion dinars in 2024, and they confirmed the readiness to localize the salaries of private sector workers, and their commitment to restructuring Iraqi banks and the (Oliver Wyman) plan, as it will be a comprehensive solution to most of the problems that the banking sector suffers from.”  link

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Tishwash:  The National Bank of Iraq: A leadership based on governance and transparency

The National Bank of Iraq affirmed on Tuesday its commitment to the principles of governance and transparency as a fundamental rule governing its financial transactions, adhering to strict standards. It identified what it described as the "most valuable currency" in this vital sector, while pledging to consistently comply with legal and regulatory requirements and international standards. 

In a statement received by Al-Eqtisad News, the bank stated, "The National Bank of Iraq's commitment to the principles of governance and transparency is one of its most prominent factors in the Iraqi banking sector. These principles form the fundamental foundation upon which the bank builds its strong relationships with clients, partners, and various stakeholders, and have contributed to enhancing its credibility in all its financial transactions." 

 He added, "Over the years of its operation in the Iraqi market, the National Bank of Iraq has proven that it is not just a financial institution, but a strategic partner for its clients and a loyal guardian of their savings and financial future." He expressed his belief that "trust is the most valuable currency in this vital sector, and this commitment is an integrated approach to work that is embodied in the finest details of its operations and services, and bears fruit in the form of quality and distinction, thereby strengthening its leading position in the market." 

 He explained that "this commitment is clearly demonstrated by the bank's ongoing efforts to ensure that financial operations are managed in accordance with international best practices, setting strict standards to ensure transparency and accountability in all its transactions." He explained that "clear examples of this approach include the bank's ISO 9001:2015 certification in the areas of customer care services and bank transfer operations, confirming that the bank implements an integrated quality management system, with a focus on providing an exceptional banking experience for its customers, based on efficiency, reliability, and attention to the smallest details." 

 He explained that "the bank's commitment to quality and continuous improvement did not come out of nowhere, but rather is the result of a strategic vision that places the customer at the heart of its concerns. Implementing ISO 9001:2015 standards has had a positive impact on the smoothness of internal operations, contributed to raising efficiency and effectiveness, reducing errors, and lowering operating costs. Most importantly, it has strengthened the bank's ability to comply with legal and regulatory requirements, and opened up broader horizons for cooperation and partnership with global financial institutions, benefiting from international recognition of its quality and reliability."

 He continued, "In the context of this relentless pursuit of excellence, the bank's efforts culminated in receiving the 'Excellence Award' from Citi Bank, in recognition of its superior performance in managing incoming and outgoing financial transfers. This clearly reflects its proficiency in implementing precise and organized procedures that ensure full compliance with international standards in the execution of financial transactions." 

He continued, "The National Bank of Iraq's continued focus on the principles of good governance and transparency as an integral part of its long-term strategy is supported by the development of its internal systems and the adoption of the latest technologies in the financial sector to enhance the levels of security, speed, and reliability of its banking services." 

The bank reiterated its "commitment to providing innovative banking services that meet the changing needs of its customers and enhance their confidence by offering integrated financial solutions that support individuals and businesses alike, while adhering to global best practices."

The bank affirmed its "goal to be the first choice for all customers seeking trust, reliability, and excellence in banking services."  link

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

Tishwash:  Rafidain Bank in a new look: Al-Sudani announces a new banking era in Iraq

Prime Minister Mohammed Shia al-Sudani confirmed on Monday that the government has adopted comprehensive plans for banking reform and contracting with private financial auditing firms, covering all banks. He also indicated that the work of the First Rafidain Bank will be launched with a new look and vision, and in partnership with specialized and well-known banks.

A statement from the Prime Minister's Office, received by Shafaq News Agency, stated that "Al-Sudani chaired a meeting of the heads of the boards of directors of Iraqi banks, during which the mechanisms for implementing the banking reform plans prepared by the government as part of comprehensive reforms of the economic sector were discussed."

Al-Sudani stressed, according to the statement, that "all state sectors are linked to the existence of an effective and flexible banking system that relies on modern technologies," noting that "the government has adopted comprehensive plans for banking reform and contracted with private financial auditing companies, covering all banks, and has made great strides in implementation." He indicated that "the work of the First Rafidain Bank will be launched with a new look and vision, and in partnership with specialized and well-known banks."

He pointed to "the formulation of a clear roadmap to address the situation of the private banking sector, as a partner in development," stressing "the need for cooperation during the next phase to take effective steps to reform the economy," and affirming "the state's distancing from detailed intervention in sectors and assuming the role of regulator."

Al-Sudani pointed to "working to integrate the private sector and foreign companies in all major projects, as well as supporting local productive sectors and absorbing the imported cash flow into providing domestic goods and services to citizens as an alternative to imports and ensuring support for local investment."

The Prime Minister directed banks to "simplify procedures, participate broadly in the development process, participate as investors in all available opportunities, move toward partnerships with foreign companies, and work to build trust with citizens, which will help ensure they feel secure depositing their money in banks."

For their part, the heads of the Iraqi banks’ boards thanked the government for its support to the banks and its assistance in solving their problems. They confirmed the rise in credit and financial accreditation indicators, and pointed out the rise in trading via electronic payment from (1.7) trillion dinars in 2020 to reach (21) trillion dinars in 2024. They confirmed their readiness to localize the salaries of private sector workers and their commitment to restructuring Iraqi banks and the (Oliver Wyman) plan, as it will be a comprehensive solution to most of the problems that the banking sector suffers from, according to the government statement. link

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

Mot:  Two priests decided to take a vacation in Hawaii

Two priests decided to take a vacation in Hawaii. Wanting to really relax, they agreed — no collars, no black suits, nothing that would give away they were clergy.

As soon as their plane landed, they hit a local shop and bought the wildest tourist outfits you could imagine — flashy shirts, loud shorts, sandals, sunglasses — the whole package.

The next morning, they hit the beach, dressed head to toe like total tourists. Sitting back in their chairs, sipping drinks, soaking in the sun — life was perfect.

That’s when a stunning blonde in a tiny bikini strolled right past them, smiled sweetly, and said,

“Good morning, Father. Good morning, Father.”

She nodded at each of them and walked away like it was the most normal thing in the world.

The priests were floored. How on earth did she know?

Determined not to be recognized, the next day they went back to the store and bought even crazier outfits — the kind you can hear before you see! Dressed in their new, over-the-top beachwear, they returned to the sand, ready to blend in.

But wouldn’t you know it — the same blonde appeared, this time in an even tinier string bikini. She walked right up to them, flashed a smile, and once again said,

“Good morning, Father. Good morning, Father.”

Finally, one priest couldn’t take it anymore and asked,

“Excuse me, young lady, we are priests — but how in the world did you know?”

She laughed and replied,

“Oh, come on, Father! It’s me — Sister Angela!”

Seeds of Wisdom RV and Economic Updates Monday Evening 5-5-25

Good evening Dinar Recaps,

KEY CRYPTO EVENTS YOU CAN’T MISS THIS WEEK: WILL BTC DIP?

This week is packed with key events that could have an impact on the crypto sector. Don’t miss out—here’s what you need to know.

May 7 – Fed Interest Rate Decision, Ether’s Pectra upgrade

All eyes are on the Fed’s interest rate decision, which would affect the market sentiment across the financial and crypto sector.

The Fed is expected to keep the interest rates unchanged at 4.25–4.5%. While inflation could push the Fed to keep rates steady, President Trump’s push for a rate cut could influence the decision.

Trump, in a recent post, pointed to strong jobs data and falling prices as reasons for a rate cut. He also credited his tariff policy for bringing in billions.

All Eyes on Fed Chair’s Comments

However, there’s something more important than the rate decision itself that investors and analysts will be watching closely: What the Fed Chair has to say. Specifically, any comments on U.S. tariff policies are highly expected from Powell.

In its last meeting, it noted steady economic growth, low unemployment, and a strong job market. However, inflation remained high, and uncertainty had also increased. Bitcoin dropped slightly after the last Fed rate update, falling from over $84,000 to around $83,500.

The Fed has five meetings remaining on its 2025 calendar. On the same day, Ethereum’s Pectra upgrade is all set to go live, which will impact Ether’s price. It includes 11 improvements, mainly focused on making wallet use and recovery easier, and raising the maximum stake for one node from 32 ETH to 2048 ETH.

May 8 – US Initial Jobless Claims

The US initial jobless claims will provide fresh insights into the labor and market health. The report shows how the US job market is performing. Fewer jobless claims would mean that the economy is strong, while more claims would indicate the economy is weak.

May 13, 15 – US CPI and PPI Data

The US CPI will come in on May 13, and on May 15, the PPI report is scheduled. Both reports will be closely watched as key inflation signals by both traders and policymakers.

The Consumer Price Index (CPI) dropped by 0.1% in March, while Core CPI, which excludes food and energy, rose just 0.1%. Bitcoin had climbed slightly above $82,000 over the news.

The recent PPI report on April 11, 2025, showed a 0.4% month-over-month decline. Bitcoin rose 4%, reaching $82,500 following the data.

Bitcoin dropped below $94,000 ahead of the Fed decision. It has dropped 3% over the weekend, from $96,926 to $94,162, and could drop to $92K next.

@ Newshounds News™
Source:  Coinpedia

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BRICS ABANDONS US DOLLAR, SETTLES 65% OF TRADE IN LOCAL CURRENCIES

• Russia confirms 65% of BRICS trade is now settled in local currencies, not the US dollar.

• Only one-third of BRICS trade now uses the dollar, signaling a dramatic shift in global finance.

• The bloc is pushing for independent payment systems to insulate from US sanctions.

Russia’s Foreign Minister, Sergey Lavrov, announced that more than 65% of trade settlements among BRICS nations are now conducted in local currencies rather than the US dollar. Only about one-third of all trade payments are still made in dollars — a sharp decline that points to the greenback’s weakening grip on global trade.

“National currencies already account for more than 65% within the framework of trade among BRICS members. The dollar’s share declined to one-third against such background.” — Sergey Lavrov

BRICS: Trade Shift Toward Local Currencies

The trend reflects growing resistance to US sanctions and tariffs. Member states are choosing local currencies to protect their economies and exert greater sovereignty over financial systems.

Lavrov elaborated during a meeting in Brazil:

“The meeting of BRICS finance ministers and central banks governors was held not long ago, where tasks of forming independent payment systems were reviewed... It was assigned to proactively use national currencies in mutual trade.”

Global Impact and De-Dollarization Momentum

Many non-BRICS countries are closely watching this trend. Nations in Africa, Eastern Europe, and Asia are reportedly evaluating the potential to follow BRICS’ lead in reducing reliance on the US dollar.

If these nations shift away from the dollar for trade settlements, the impact on the US economy could be severe, especially if the US government fails to keep the dollar central to global trade.

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

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Will U.S. Basel III Unleash Gold? BIS' New Reset Plan

Will U.S. Basel III Unleash Gold? BIS' New Reset Plan

Daniela Carbone:  5-5-2025

We could see a reset of some type that changes the whole system,” warns David Morgan, publisher of The Morgan Report. In an interview with Daniela Cambone, Morgan discusses the looming failure of the debt-based fiat monetary system, which he believes will ultimately lead to a financial crisis.

“We are not where the market says we are… the financial system has been illogical for a very long time.” He adds that we’re now in a “brisk walk” phase of gold accumulation, with central banks buying gold “hand over fist” as the public slowly begins to catch on.

 Meanwhile, “Silver is the Achilles heel of the entire financial system,” he says, indicating the metal’s disruptive potential to the current fiat structure.

 Key Facts:

 Silver is the Achilles heel of the entire financial system.

The run to gold has begun.

 Monetary reset is coming.

 The BIS has a plan for a new monetary system.

Chapters:

 00:00 Gold run has begun

05:29 Silver’s potential

07:54 Fiat currency

 09:46 Debt market

11:39 New financial system

12:22 Monetary reset

 13:35 Lower U.S. dollar

14:37 Strength of euro

 16:09 Gold bull market

16:16 Concluding words

https://www.youtube.com/watch?v=luHPPH2IaK8

U.S. Basel III Deadline Approaches as Central Banks Brace for Gold

U.S. Basel III Deadline Approaches as Central Banks Brace for Gold

Taylor Kenny:  5-4-2025

Basel III, gold, and the decline of the U.S. dollar—in this video, Taylor Kenney explains how global banking rules are quietly repositioning gold from a commodity to tier one money.

The world of finance and banking is undergoing a significant shift, with the new Basel III regulations repositioning gold from a commodity to tier one money.

This change, largely overlooked by main stream media, has profound implications for the global financial system, inflation, and the future of U.S. monetary dominance.

Taylor Kenney of ITM Trading explains that Basel III, an international framework for bank regulations, is driving this change.

The new rules require banks to hold more capital in the form of liquid assets, such as gold, to ensure financial stability in the face of potential crises.

This change has prompted central banks worldwide to stockpile physical gold, recognizing its enduring value and its role as a safe haven during economic turbulence.

The reclassification of gold as a tier one asset under Basel III signifies a return to its historical role as a reserve asset. Gold’s unique characteristics, including its scarcity, divisibility, and universal acceptance, make it an ideal store of value. Moreover, unlike fiat currencies, gold is not subject to counterparty risk, making it an attractive option for central banks seeking to bolster their reserves.

The shift towards gold as a reserve asset exposes the weaknesses in the current financial system. The U.S. dollar’s status as the world’s primary reserve currency has long been a cornerstone of U.S. economic power. However, the growing recognition of gold’s value and the increasing debt levels of the U.S. government have raised questions about the long-term viability of the dollar’s dominance.

Furthermore, the new regulations could have significant implications for global markets and inflation. As central banks accumulate more gold, demand for the precious metal is likely to increase, driving up its price. This, in turn, could lead to inflationary pressures, as the cost of goods and services linked to gold, such as jewelry and electronics, rises.

Additionally, the shift towards gold as a reserve asset could lead to a rebalancing of global economic power. Countries with significant gold reserves, such as Russia and China, could see their influence grow, potentially challenging the U.S.’s monetary dominance.

In conclusion, the Basel III regulations are driving a significant shift in the global financial system, repositioning gold as a tier one asset and challenging the U.S. dollar’s status as the world’s primary reserve currency.

 This change has profound implications for global markets, inflation, and the future of U.S. monetary dominance. As central banks stockpile physical gold, investors would be wise to take note of this trend and consider its potential impact on their portfolios.

https://www.youtube.com/watch?v=nEzdg7XMbx8

Seeds of Wisdom RV and Economic Updates Monday Afternoon 5-5-25

Good Afternoon Dinar Recaps,

HOUSE REPUBLICANS RELEASE DISCUSSION DRAFT OF A BILL TO REGULATE THE CRYPTO INDUSTRY AT LARGE

▪️ The discussion draft released on Monday includes language around the U.S. SEC and CFTC’s authority.

▪️ The draft also includes requirements around disclosures and outlines how “digital commodity exchanges” would be registered.

House Republicans have unveiled a discussion draft of a bill aimed at regulating the digital asset industry, building on years of legislative groundwork.

Leading the initiative are top Republicans on the House Financial Services Committee — Reps. French Hill and Bryan Steil — in collaboration with their counterparts on the House Agriculture Committee — Reps. Glenn "GT" Thompson and Dusty Johnson. The draft was officially released on Monday.

“We made historic progress in the 118th Congress to build bipartisan, bicameral consensus in crafting a functional regulatory framework for digital assets,” said Rep. Hill in a statement.

“Our discussion draft builds upon that work and provides much-needed regulatory clarity for the digital asset ecosystem by protecting consumers and safeguarding the long-term integrity of digital asset markets in the United States.”

Blueprint for the 21st Century

As previously reported by The Block, lawmakers planned to release the draft before a key hearing titled:

“American Innovation and the Future of Digital Assets: A Blueprint for the 21st Century.”

This new draft is expected to mirror last year’s Financial Innovation and Technology for the 21st Century Act (FIT21), which successfully passed the House.

What FIT21 Proposed

FIT21 was designed to clarify the regulatory lines between:

• The Securities and Exchange Commission (SEC)

• The Commodity Futures Trading Commission (CFTC)

It would grant more power and funding to the CFTC to oversee:

• Crypto spot markets

• Digital commodities — particularly Bitcoin

The bill would also establish parameters for how and when the SEC exercises jurisdiction over digital assets.

Key Components of the New Discussion Draft

The updated draft released Monday includes:

• Language detailing the authority of the SEC and CFTC

• A “pathway to raise funds under the SEC’s jurisdiction”

• A “clear process to register with the CFTC for digital commodity trading”

• Disclosure requirements for crypto projects

• Registration guidelines for “digital commodity exchanges”

 @ Newshounds News™
Source:  

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ARIZONA SENATOR VOWS TO REINTRODUCE BITCOIN RESERVE BILL DESPITE GOVERNOR’S VETO

▪️ Governor Hobbs' veto did not deter Senator Rogers, who insists future leadership will embrace Bitcoin's potential.

▪️ Senator Wendy Rogers plans to reintroduce the Strategic Bitcoin Reserve (SBR) bill next session.

▪️ The vetoed bill aimed to allocate retirement funds into Bitcoin, drawing strong reactions from both sides.

Arizona State Senator Wendy Rogers has declared her intent to reintroduce her proposed Strategic Bitcoin Reserve (SBR) bill in the upcoming legislative session, despite a recent veto from Governor Katie Hobbs.

This marks a historic first — the first formal rejection of a crypto initiative by a sitting U.S. governor.

 “Politicians don’t understand that Bitcoin doesn’t need Arizona. Arizona needs Bitcoin. I will refile my bill next session.”
— Senator Wendy Rogers

About the SBR Bill (Senate Bill 1025)

The bill, officially called Senate Bill 1025, would have:

• Authorized the Arizona state treasurer to allocate part of the state’s retirement funds to Bitcoin

• Passed both chambers of the Arizona legislature without changes

• Been vetoed by Governor Hobbs, who cited concerns over volatility and long-term risk

Despite the rejection, Senator Rogers remains confident that future administrations may take a more favorable stance.

 “If she vetoes it again, I am sure Governor Andy Biggs will be happy to take credit for signing the bill for this already proven (16 years!) innovation that will protect our wealth.”
— Senator Rogers

Current Exposure to Bitcoin

Interestingly, Arizona’s State Retirement System (ASRS) already has indirect exposure to Bitcoin through investments in Strategy, the largest corporate holder of the asset, according to Julian Fahrer, founder of Bitcoin Laws.

What’s Next for Arizona?

Though SB1025 is currently off the table, crypto legislation in Arizona is far from over. Another proposal — Senate Bill 1373 — is still under review.

🟩 Key Differences in SB1373:  Does not involve retirement funds

• Seeks to allow the state to retain and manage cryptocurrencies obtained through seizures or appropriated assets

However, given Governor Hobbs’ resistance to 

SB1025, it’s unclear whether she would support SB1373 — even though some believe its administrative nature may give it a better shot at approval.

@ Newshounds News™
Source:  CryptoSlate

~~~~~~~~~

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“Tidbits From TNT” Monday 5-5-2025

TNT:

Tishwash:  Al-Sudani chairs a meeting of the heads of the boards of directors of Iraqi banks.

Prime Minister Mohammed Shia al-Sudani chaired a meeting on Monday with the chairmen of the boards of directors of Iraqi banks.

The Prime Minister's media office stated in a statement received by Al-Maalouma Agency that "Prime Minister Mohammed Shia al-Sudani chaired a meeting with the chairmen of the boards of directors of Iraqi banks."   link

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Tishwash:  The Foreign Minister arrives in Riyadh on an official visit.

Deputy Prime Minister and Minister of Foreign Affairs, Mr. Fuad Hussein, arrived in the Saudi capital, Riyadh, on Sunday, May 4, 2025, on an official visit aimed at strengthening bilateral relations and continuing consultation and coordination between the two brotherly countries.

The Minister was received upon arrival by Deputy Foreign Minister Walid bin Abdul Karim Al-Khuraiji and the Ambassador of the Republic of Iraq to the Kingdom of Saudi Arabia, Ms. Safiya Talib Al-Suhail.

Mr. Fuad Hussein is scheduled to meet with his Saudi counterpart, Faisal bin Farhan, to discuss ways to strengthen relations between Iraq and the Kingdom of Saudi Arabia, in addition to discussing regional and international developments, the challenges facing the region, and ways to support joint Arab action.

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Tishwash:  Iraq is in the crosshairs of international negotiations. Negotiations by major powers shape the contours of crises or opportunities for a breakthrough.

 Baghdad Today - Baghdad

Political and strategic affairs researcher Muhammad Ali al-Hakim explained on Monday (May 5, 2025) that the ongoing negotiations between the United States and Iran cast a heavy shadow over Iraq, given the direct and influential influence the two countries have on the Iraqi scene.

Al-Hakim told Baghdad Today, "US-Iranian relations are among the most complex international relations, and any shift in their course will have a direct impact on Iraq, whether positive or negative, depending on the outcome of these negotiations."

He pointed out that "the success of the negotiations will have several positive effects on Iraq, including easing regional tensions, which will reduce the risk of a new conflict and enhance the chances of peace. The economic situation will also improve if sanctions on Iran are lifted, which will open the way for Iraq to expand its trade and economic cooperation with Tehran."

He added that "achieving consensus between Washington and Tehran could also lead to increased international support for Iraq from both sides, which would contribute to the country's stability and stimulate development and investment, as well as reduce the severity of the internal political divide and improve Iraqi-American relations, thus enhancing Iraq's chances of receiving more financial and political support."

In contrast, Al-Hakim warned of the repercussions of the failure of the talks, stressing that "it could rekindle tensions in the region, placing Iraq at the heart of new crises, with the potential for its economy to decline due to continued sanctions on Iran and the difficulty of engaging economically with it."

He also warned that "the failure of the negotiations could exacerbate political tensions within Iraq and intensify polarization between forces affiliated with the Iranian axis and those loyal to the United States, potentially opening the door to new internal crises."

Al-Hakim concluded his remarks by saying, "Despite three rounds of indirect talks between Tehran and Washington, mediated by Oman, Iraq's fate remains tied to the outcome of these negotiations. Their success serves Iraq's national security interests, while their failure could bring further crises."

The United States and Iran have been locked in a complex political and economic conflict for years, beginning with the Iranian Revolution in 1979 and culminating with Washington's withdrawal from the nuclear agreement in 2018 and imposing severe sanctions on Tehran.

With tensions escalating in the Middle East, Iraq has become an indirect arena for this conflict, given the presence of US forces and Iran's extensive political and economic influence there.

Despite attempts at calming the situation through international mediation, most notably Omani mediation, negotiations remain at a standstill, with Iraq remaining the country most affected by the fluctuations in relations between Tehran and Washington.   link

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Tishwash:  The Minister of Finance breaks her silence on the withdrawal of tax deposits 

Finance Minister Taif Sami explained, on Sunday (May 4, 2025), the mechanism for withdrawing tax deposits and converting them into final revenues.

Sami said in a statement to the official agency, followed by "Baghdad Today", that "the special account for tax deposits opened at the Central Bank of Iraq in the name of the Ministry of Finance, Accounting Department, which concerns the amounts collected from taxpayers, most of which are considered final revenue for the state treasury (tax revenues) according to the applicable laws," indicating that "these amounts are temporarily deposited in an intermediate account, which is the (tax deposits) account, until the final tax accounting procedures are completed by the taxpayers and the General Tax Authority."
She added, "In light of this, it is determined whether the tax accounting is equal to the amount paid by him as deposits, the deposit amounts are reflected in the final revenue. However, if the tax accounting is greater than the amount paid, the taxpayer pays the difference to the public treasury. However, if the tax accounting is less than the amount paid by the taxpayer, the difference is returned to the taxpayer."

She continued, "All remaining amounts are reflected in this account after completing the tax accounting as a final revenue for the state treasury (tax revenues)," noting that "withdrawing tax deposit amounts is a normal procedure according to Cabinet Resolution No. (294) of 2025, as these amounts are considered final revenue for the state treasury as the final result of tax accounting."

The Cabinet resolution, in its 15th regular session held on 4/15/2025, included approval to authorize the Minister of Finance to withdraw tax deposit amounts that are less than five years old, amounting to (3,045,007,500,252) dinars, to finance and pay the salaries of April and subsequent months deposited in the Ministry of Finance's account at the Central Bank of Iraq (70019), which it will deposit later according to the state's overall need, provided that the cash settlement is made monthly when requested by reversing the deposit amount from the actual revenues collected monthly when conducting the tax accounting.

The Minister of Finance explained that "the procedure is normal to maximize resource revenues and control them of all kinds," indicating that "most taxpayers do not visit the departments to complete their tax accounting dues, with the aim of evading the imposed tax."
She stressed that "the ministry has lists of the names, numbers and amounts of taxpayers and companies that owe money at the General Tax Authority and the Accounting Department, to refer to in the event that taxpayers visit the Authority."

Sami pointed out that “the remaining amounts reflect:
1- Upon receipt of amounts from taxpayers before the final settlement (estimation of the tax amount) from the bank account to the tax deposit account (taxpayer)
2- Upon final settlement with the taxpayer:
A- If the final tax settlement amount is equal to the amount of deposits paid, the entry shall be
as follows:
From the tax deposit account (taxpayer)
to the final revenue account (tax revenue)
B- If the final tax settlement amount is greater than the amount paid as deposits, the taxpayer shall pay the difference as a final revenue to the state treasury according to the following entry:
From the bank account (difference amount) From the taxpayer
to the final revenue account (tax revenue).
She added, "The amounts of tax deposits paid by the taxpayer are reflected as final revenue according to the following entry:
From the account / tax deposits (taxpayer)

To the account / Tax revenues
C - If the final tax settlement is less than the amount paid by the taxpayer, the difference amount shall be returned to the taxpayer and the remaining amount shall be reflected in the final revenue according to the following compound entry:
From the account / Tax deposits (the taxpayer)
To the aforementioned
account / Final revenue (Tax revenues)
account / Bank The difference that shall be returned to the taxpayer)

The Council of Ministers decided in its fifteenth regular session held on 4/15/2025 to approve the following:
1- Authorizing the Minister of Finance to withdraw the amounts of tax deposits that are not more than five years old, amounting to (3,045,007,500,252) dinars, to finance and pay the salaries of the month of April and subsequent months deposited in the Ministry of Finance’s account at the Central Bank of Iraq (70019), which it will deposit later according to the need for the total state, provided that the cash settlement is carried out monthly when requested by reversing the amount of deposits from the actual revenues collected monthly when conducting the tax settlement.
2- The ministries, entities not affiliated with a ministry, governorates and governorate councils shall implement the contents of the Ministry of Finance's circular No. (36) S/357 dated 4/8/2025 (attached), for the purpose of expediting tax accounting and settlement procedures within a maximum of (10) days starting from the date of issuance of this decision.

3- Holding accountable those who fail to implement the provisions of the Income Tax Law (113 of 1982 as amended) and delaying the settlement of financial liabilities resulting from the delay in tax accounting and financing all tax revenue amounts and the amount of tax deposit settlement on a timely basis.
4- The General Tax Authority shall impose the fines stipulated in the provisions of paragraph (4) of Article (56) of the aforementioned Income Tax Law. link

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Mot: Julie Andrews Turning 79 - this is hysterical!

To commemorate her birthday , actress/vocalist, Julie Andrews made a special appearance at Manhattan's Radio City Music Hall for the benefit of the AARP. One of the musical numbers she performed was 'My Favorite Things' from the legendary movie 'Sound Of Music'. Here are the lyrics she used:

(Sing It!) - If you sing it, its especially hysterical!!! )

Botox and nose drops and needles for knitting,

Walkers and handrails and new dental fittings,

Bundles of magazines tied up in string,

These are a few of my favorite things.

Cadillacs and cataracts, hearing aids and glasses,

Polident and Fixodent and false teeth in glasses,

Pacemakers, golf carts and porches with swings,

These are a few of my favorite things.

When the pipes leak, When the bones creak,

When the knees go bad,

I simply remember my favorite things,

And then I don't feel so bad.

Hot tea and crumpets and corn pads for bunions,

No spicy hot food or food cooked with onions,

Bathrobes and heating pads and hot meals they bring,

These are a few of my favorite things.

Back pain, confused brains and no need for sinnin',

Thin bones and fractures and hair that is thinnin',

And we won't mention our short shrunken frames,

When we remember our favorite things.

When the joints ache, When the hips break,

When the eyes grow dim,

Then I remember the great life I've had,

And then I don't feel so bad

Seeds of Wisdom RV and Economic Updates Monday Morning 5-5-25

Good Morning Dinar Recaps,

SAY NO TO CRYPTO LEGISLATION, SENATOR WARREN URGES SENATE ON SHADY TRUMP DEAL

Senator Elizabeth Warren has criticized the Trump family’s involvement in the crypto industry, particularly the newly launched USD1 stablecoin.

▪️ Backed by US Treasuries, USD1 will reportedly serve as the settlement currency for a $2 billion investment from Abu Dhabi-backed MGX.
▪️ Warren has raised alarm about the GENIUS Act, which aims to establish a US regulatory framework for stablecoins.
▪️ She alleges the bill could facilitate financial profiteering by Trump and his associates, labeling it as a move that "greenlights corruption".

US Senator Elizabeth Warren has raised major red flags about Donald Trump’s association with the crypto industry and the recent $2 billion deal backed by the United Arab Emirates, calling it a pathway to huge corruption. As a result, she has urged the US Senate to stop the crypto legislation and the GENIUS Act, ahead of this week.

Senator Warren Attacks USD1 Stablecoin

In her fresh attack on the Trump family, Massachusetts Senator Elizabeth Warren referred to the newly launched USD1 stablecoin, backed by short-term US Treasuries. This stablecoin has been issued by Donald Trump’s DeFi project, World Liberty Financial.

The global stablecoin market currently surpasses $245 billion in circulation. According to CoinGecko, USD1 ranks seventh among stablecoins, with most being backed by short-term US Treasuries and other real-world debt instruments.

World Liberty’s USD1 will play a pivotal role as the settlement currency for MGX’s $2 billion investment in Binance, the global cryptocurrency exchange.

Abu Dhabi’s sovereign wealth fund is backing MGX, with Witkoff publicly announcing the deal last week during a crypto convention in Dubai, seated alongside Eric Trump.

Stop Crypto Legislation aka GENIUS Act

Senator Elizabeth Warren has been actively questioning Donald Trump’s association with the crypto industry, adding that the President and his peers are filling up their pockets by bending the rules.

While referring to the crypto legislation aka the GENIUS Act last week, which seeks to establish the first US regulatory framework for stablecoins, Senator Warren said:

“This is a bill that would make it even easier for the president and his family to profit off their own stablecoin and oversee their own financial company.”

While further questioning the Senate’s inaction in a Trump-associated crypto deal, Senator Warren called it “corruption in plain sight”. She warned that by advancing related legislation, lawmakers are effectively “greenlighting the grift.”

The GENIUS Act bill, sponsored by Senator Bill Hagerty (R-TN), gained bipartisan backing in March when it passed the Senate Banking Committee and is set for a floor vote this week.

@ Newshounds News™
Source:  CoinSpeaker

~~~~~~~~~

CARDANO JOINS LINUX FOUNDATION’S CONFIDENTIAL COMPUTING CONSORTIUM

Cardano has become the newest member of the Linux Foundation’s Confidential Computing Consortium (CCC), a move that places the open-source blockchain alongside tech giants like Microsoft and Amazon in the fast-growing arena of hardware-based data protection.

The announcement came during a one-hour “Midnight Booth” fireside chat at Consensus, where Charles Hoskinson (CEO of Input Output) and Eran Barak (CEO of the Midnight development company) laid out how confidential computing will anchor Cardano’s privacy-first sidechain, Midnight.

“We just recently joined the Confidential Computing Consortium... We’re right there with Microsoft and Amazon with Nitro,” Hoskinson told the audience.

Cardano’s Entry into Hardware-Based Privacy

The CCC sets cross-industry specifications for enclave-based security. Cardano’s membership signals an intent to align Midnight’s zero-knowledge roll-ups and DID (Decentralized Identifier) stack with emerging hardware security standards rather than relying purely on cryptographic approaches.

“Midnight basically clicks into all of those different things… you actually get paid for sharing these things as opposed to it all goes to the Magnificent Seven,” said Hoskinson, referencing dominant Big Tech firms.

Cardano Takes Next Step in Secure Blockchain

Hoskinson traced the inspiration for Midnight to “a bar in Tel Aviv” during Eurocrypt 2018, where a debate on zero-knowledge proofs matured into a new sidechain project featuring:

• A Stark-based execution engine (“Kachina”)

• A dual-token economic model:

• “Knight” for governance

• “Dust” for metered capacity

• Selective-disclosure controls using W3C DIDs

“Enterprise adoption hinges on hardware-rooted trust,” said Barak.
“Confidential computing supplies that final layer.”

Why Confidential Computing Matters

“When you think about protecting your data, you really need to protect the data and the metadata,” said Barak.

By joining the CCC, Cardano gains influence in shaping:

• Chipset specifications

• Enclave attestation protocols

• Open-source reference code

Midnight aims to become the secure foundation that enables AI to access private data without violating user rights.

Regulatory Design: The Two-Asset Model

The session highlighted Midnight’s design that splits volatile and stable components:

• “Knight” = value-accruing governance token

• “Dust” = stable, non-speculative usage token

“You get your cake and eat it, too… developers can pay in Bitcoin or Ether or Solana... end users won’t notice they’re using a different system,” said Hoskinson.

This sidesteps common regulatory concerns seen in privacy coins like Monero, by separating consensus incentives from fee mechanisms.

Hardware-Backed Privacy for Compliance

Confidential computing strengthens blockchain privacy at the hardware level:

• Enclave-based execution seals wallet keys, ZK circuits, and DID registries

• Cryptographic attestation allows regulators to verify compliance

“Selective disclosure is an absolute necessity,” Hoskinson emphasized.
“Disclosure rules can be embedded in smart contracts, and exchanges decide compliance.”

Looking Ahead: Tokenized Assets and Enterprise Use

Cardano’s CCC membership coincides with a growing push toward tokenizing real-world assets, a market Hoskinson estimates at:

• $10+ trillion today

• $100 trillion in the future

Midnight must interoperate with both legacy financial venues (e.g., NYSE) and on-chain liquidity pools.

“You want broker-dealers, compliance, circuit breakers, and blockchain tech... Midnight is the only way to really do that,” he said.

2,000+ Builders Already on Midnight

Barak reported over 2,000 testnet developers building projects including:

• Dark-pool trading prototypes

• Encrypted medical record systems

• Jet engine carbon-credit tracking

Because code/state is encrypted, even IO’s team cannot inspect what is deployed—ensuring privacy-first development.

“If we finally bring blockchain technology with privacy businesses actually need, the innovation is just unbelievable,” Barak concluded.

@ Newshounds News™
Source:  Bitcoinist

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

Follow the Roadmap

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Thank you Dinar Recaps

The U.S. Is 80% Broke, And No One Realizes It, The Fed Caused This, and Can’t Fix It | Chris Whalen

The U.S. Is 80% Broke, And No One Realizes It, The Fed Caused This, and Can’t Fix It | Chris Whalen

Soar financially:  5-4-2025

In this explosive episode, Chris Whalen, Chairman of Whalen Global Advisors and Wall Street veteran, delivers an unfiltered breakdown of what’s next for the U.S. economy.

From the Fed’s policy blunders to a looming 20% housing market correction, Chris lays out what most analysts refuse to say.

 We cover the fintech credit crisis, inflation’s true cause, commercial real estate’s silent implosion, and why gold is set to become a central bank favourite again. Buckle up — this one’s packed.

00:00 - Gold Can’t Absorb a Market Exodus

00:52 - Meet Chris Whalen

02:00 - Global Outlook: Europe vs U.S.

 03:40 - Are We Near Recession?

05:00 - The Fed’s Hubris & Debt Fallout

07:00 - 20% Housing Price Crash Coming

 09:00 - Mortgage Rates at 7%: What It Means

12:00 - Why the Fed Missed Its Chance

14:00 - Rent-to-Own, FHA, and Housing Stress

 16:00 - Inflation vs. Stagflation Debate

18:00 - Trump, Fed Politics, and Treasury Moves

19:30 - Jobs Report Surprises & What It Signals

 21:00 - Big Government vs. Shrinking Private Sector

22:30 - Fintech, Credit Risks, and Buy Now Pay Later

25:00 - Market Outlook, Valuations, and Gold Strategy

 29:00 - Gold, Basel III, and Silver as Reserve Assets

https://www.youtube.com/watch?v=UgL8rPuhvYE

More News, Rumors and Opinions Sunday PM 5-4-2025

KTFA:

Clare:  Granting a license to Al-Hawd Exchange Company / Private Joint Stock Company under Category (A)

May 04, 2025

It was decided to grant a license to practice work as a private joint-stock exchange company under category (A) in the name of Al-Hawd Exchange Company, numbered (99) for the year 2025. For more, click here.

https://cbi.iq/news/view/2879

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Clare:  The Central Bank's branch in Erbil holds a development course for its employees.

The Central Bank of Iraq, Erbil Branch, held a "Middle Management Course" for some of its employees.

The course covered the basic aspects of developing participants' skills, including basic information in the administrative, legal, banking, financial, and monetary fields.

It is worth noting that developing the organizational structure and human resources at the Central Bank is a strategic objective pursued by the Central Bank of Iraq to develop its human resources, enhance their capabilities, enhance the effectiveness of their performance, and qualify them administratively and professionally.

Central Bank of Iraq
Media Office
May 4, 2025

https://cbi.iq/news/view/2881

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Clare:  The Central Bank concludes financial inclusion activities in Sulaymaniyah.

The Central Bank of Iraq's Erbil branch concluded financial inclusion activities in Sulaymaniyah Governorate.

The event lasted for two days and was attended by a number of banks and electronic payment service providers.

The first day's event was held at the College of Administration and Economics, University of Sulaimani, while the second day's events were held at the International Finance and Trade Center in Sulaimani.

Central Bank of Iraq
Media Office
May 4, 2025

https://cbi.iq/news/view/2880

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

Bruce   [via WiserNow]  I think we're going to end up getting notifications between Sunday and Monday.

Pimpy   The only thing keeping Iraq back from having the exchange rate of $3.22 is Iraq...Sudani seems to be getting everything back on track.  Keep your fingers crossed that no more things come in and interfere with the rebuilding of Iraq.  Then you can start to see it, slowly but surely, rebuilding the value of its currency.  Having a ton of foreign currency reserves helps.  Having a ton of gold helps as well.

Sandy Ingram  Iraq and the United States are working closely behind closed doors.  Behind closed doors the United States, IMF and World Bank have a lot to do with the timing of the float of the Iraqi dinar and Iraq's release from the shadow sanctions.  

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$10,000 Gold This Year? Monetary Reset Breadcrumbs In Plain Sight | Mike Maloney

4-30-2025

Is the U.S. preparing for a monetary reset backed by gold?

 In this powerful exposé, we follow the trail of breadcrumbs—from historical cycles and central bank actions to the massive inflows of gold into U.S. vaults.

 Discover how past monetary transitions line up with today’s geopolitical and financial chaos, and why a $10,000 gold price may be more than just speculation—it could be imminent reality.

Inside This Video:

The 50-year monetary reset cycle

 Surging U.S. gold imports and Fort Knox whispers

 Treasury officials hinting at a new gold standard

A step-by-step breakdown of how gold could hit $10,000

https://www.youtube.com/watch?v=GGsWLA7s9Ow

Iraqi Dinar Breaking News: Iraqi Bank to Launch in America, Massive Shift for Iraqi Dinar and Dollar Transfers

Iraqi Dinar Breaking News: Iraqi Bank to Launch in America, Massive Shift for Iraqi Dinar and Dollar Transfers

5-3-2025

In a move that could significantly impact the Iraqi Dinar (IQD) and strengthen financial ties between the United States and Iraq, Iraq is officially launching its first bank in the U.S.

This landmark event, backed by the Central Bank of Iraq and the U.S. Treasury, is poised to revolutionize how IQD is handled and offer unprecedented opportunities for those holding the currency.

For years, navigating the complexities of exchanging IQD for USD has been a challenge, often involving third-party intermediaries and potential risks. This new bank aims to streamline the process and provide a secure, legitimate channel for converting IQD to USD directly on American soil.

This launch represents a significant vote of confidence in the Iraqi economy and its currency. The regulatory approvals from both the Central Bank of Iraq and the U.S. Treasury underscore the importance of this initiative for strengthening bilateral financial relations.

For individuals holding Iraqi Dinar, this new bank offers a legitimate and potentially more profitable avenue for managing their assets. The direct exchange rates and reduced fees could significantly improve the return on investment for IQD holders.

It’s crucial to stay informed about the bank’s operational details, verification processes, and exchange rates to make informed decisions.

The launch of Iraq’s first official bank in the United States is a groundbreaking development with the potential to reshape the landscape of Iraqi Dinar transactions and deepen the economic relationship between the U.S. and Iraq.

Whether you are an existing IQD holder or simply observing Iraq’s economic progress, this is a pivotal moment that warrants close attention. By facilitating direct exchanges, eliminating middlemen, and providing secure redemption options, this bank is poised to become a game-changer for the Iraqi Dinar and a testament to Iraq’s growing financial stability.

Watch the video below from Iraqi Dinar Breaking News for more information.

https://youtu.be/dfgIM6YkV3g

https://dinarchronicles.com/2025/05/03/iraqi-dinar-breaking-news-iraqi-bank-to-launch-in-america-massive-shift-for-iraqi-dinar-and-dollar-transfers/

“Tidbits From TNT” Sunday 5-4-2025

TNT:

Tishwash:  Al-Nusairi: Comprehensive banking reform means modernizing and developing banks, ensuring their compliance with international standards, and transitioning to a rapidly growing economy.

Economic and banking advisor Samir Al-Nusairi confirmed that the banking reform project launched by the Central Bank last month in cooperation with the government and the global consulting firm Oliver Wyman was held at a ceremony attended by the Prime Minister.

Al-Nusairi said in a televised interview followed by "Al-Eqtisad News" that the banking reform project aims primarily, within the specified timeframes, to modernize and develop the private banking sector, comply with international standards, transition to a rapidly growing national economy, expand digital transformation, enhance financial inclusion, stimulate electronic payments, strengthen cybersecurity, use artificial intelligence to analyze and ensure the transparency of banking data, create a financial center, and authorize and license digital banks.

 He added that it achieves stimulating and sustainable returns for investors, creates a fair competitive environment in the banking market, and restores confidence in the banking sector.

He explained that the private banking sector achieved good business results in 2024, despite 50% of our banks being subject to sanctions and restrictions on the use of the US dollar. The ratio of credit granted to deposits reached 67.9%, which means the banks are moving towards the real work of financing and investing in deposits. The banks’ capital rose to 20 trillion dinars, an increase of 8.7% due to the implementation of the Central Bank’s instructions to raise capital to 400 billion dinars and setting September 30, 2025 as the deadline for increasing the capital of the remaining banks.

Al-Nusairi pointed out that the objectives set for banking reform are in line with the main and sub-objectives of the Central Bank's third strategy for the years 2024-2026, which comprises 7 main objectives, 24 sub-objectives, and 75 initiatives to achieve these objectives. The Central Bank's management is working to implement them in accordance with approved policies and programs and in cooperation with relevant authorities.  link

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Tishwash:  An economist proposes solutions to address the liquidity shortage in Iraq.

Financial and economic affairs expert Ahmed Abdel Rabbo proposed solutions on Saturday to address the liquidity crisis in Iraq, after the Iraqi government withdrew funds from tax deposits. He pointed out that Al-Sudani's government needs a firm will to make bold decisions to prevent the country from sliding into a stifling cash crisis.

Abdel Rabbo said in a press statement followed by (Al-Mada) that "after withdrawing 3.045 trillion dinars from tax deposits to cover salaries, the liquidity crisis in Iraq appears more urgent than ever, which requires urgent government action with a balanced financial formula."\

He added, "Unnecessary expenditures must be rescheduled and non-urgent projects, such as bottleneck projects, postponed to direct resources towards top priorities, and short-term government bonds must be issued to the Central Bank and local banks as a quick internal solution without getting involved in external debt."

He explained that "among the quick solutions are tightening control over foreign bank transfers, regulating the sale of dollars, restoring confidence in local banks, and launching urgent tax collection campaigns targeting large arrears from companies and importers to boost non-oil revenues."

The financial and economic expert stressed the need for "immediate diplomatic action with Washington to ensure the continued flow of oil revenues without disruption or delay, in addition to offering savings bonds to citizens with incentives to attract the dormant cash flow outside the banking system."

Abdel Rabbo concluded by saying, "At such critical moments, Al-Sudani's government does not need lengthy deliberations, as much as it needs a firm executive will, capable of making bold decisions that preserve the financial balance and prevent the country from slipping into a stifling currency crisis, the repercussions of which could accelerate within weeks."  link

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

Tishwash:  The Iraqi economy and the risks of limited diversification

Dr. Haitham Hamid Mutlaq Al-Mansour

The Iraqi economy is experiencing a gap between the government's efforts to promote growth on the one hand, and the structural challenges that hinder growth and stability on the other. Although Iraq possesses enormous oil wealth, ranking third in the world in oil reserves, its near-total dependence on crude oil exports, which account for more than 90% of general budget revenues, makes it vulnerable to global market fluctuations and hinders the diversification of its production base.

This limits its resilience to external shocks and limits the national economy's response to reform requirements.

Overall activity indicates that the Iraqi economy is witnessing development in oil production infrastructure, such as joint ventures with international companies in the Majnoon and West Qurna fields, for example. This has led to an increase in total production to approximately 3.5 million barrels per day since the end of 2023, with plans to reach 5 million barrels in the coming years.

This is in addition to improved resource management following the approval of the Oil and Gas Law, which has not yet been fully implemented. Meanwhile, we are witnessing an expansion in investment in reconstruction projects in cities such as Mosul and Basra, supported by foreign investment, particularly from the Gulf, and the development of the Grand Faw Port, a strategic project to stimulate foreign trade.

On the other hand, we see a limited trend toward diversification in a few sectors, limited to limited government plans for developing agriculture and industry, such as supporting local production in the food sector, and the launch of the National Development Strategy 2020-2030, which witnessed weak implementation according to the World Bank's assessment. In terms of international economic relations, the use of the Chinese yuan instead of the dollar in oil trade with China is noted, as are agreements with neighboring countries such as Jordan, Egypt, and Saudi Arabia to establish joint industrial zones.

But one of the most prominent challenges facing economic growth and economic reform in general is the scourge of financial and administrative corruption. Iraq ranks low on the Transparency International Index (ranked 154th out of 180). According to World Bank estimates, 30% of the budget is eroded annually due to corruption. Meanwhile, the employment index suffers from high levels of unemployment and disguised unemployment. The unemployment rate exceeds 15%, reaching 30% among youth. This is due to increasing levels of public spending, its high contribution to total employment, and the prevalence of disguised unemployment among more than 4 million employees. Inflation is also expected to rise to approximately 7% by the end of 2024.

After oil prices witnessed a decline due to global demand resulting from the slowdown in Chinese growth and the rise in US interest rates, this affected budget revenues and increased the 2024 budget deficit, which was approved at 198 trillion dinars (about $152 billion), with an expected deficit of 48 trillion dinars (24%), increasing reliance on domestic borrowing.

This brought the domestic public debt to 80 trillion dinars (about $55 billion). Due to the inflation rate, which rose to 7.5% in 2024 compared to 6% in 2023, the value of the dinar decreased against the dollar with the increase in demand for imports due to the lack of flexibility of the local production base. Therefore, the Central Bank took measures to raise the interest rate to 7.5%, in addition to raising the legal reserve ratio from 15-18% and tightening controls on dollar transfers to combat smuggling and money laundering.

Not long ago, the Central Bank's foreign reserves were also witnessing a significant decline, according to the bank's own statistics. The decline reached $7.5 billion as a result of compensatory sterilization measures to mitigate the decline in dollar supply on the parallel market, posing a threat to the government's long-term inflation shield.

Given the real distortions in the Iraqi economy that affect the structure of aggregate demand, spending, and investment, with serious repercussions for the business sector, and in light of the limited government interventions and the expected continued decline in global oil prices, one of the important steps to ensure the success of the economic reform process is to emphasize the reduction of rentierism through the following:

Develop a foreign investment strategy in specific, productive sectors, with a clear plan, objectives, and tools for investment, implementation, oversight, and anti-corruption, including the oil, petrochemical, extractive, and mining sectors.

Strengthening the investment strategy by issuing a package of laws that attract foreign investment and implementing real reforms to raise the expected level of marginal capital efficiency, which will directly impact the movement and direction of private capital and increase its productivity in the sectors mentioned in the first point.

Directing oil revenue savings to investments in infrastructure, education, health, housing, industry, and agriculture, and expanding the scope of derivative investments.

Rationalizing public spending policy and taking measures to ensure financial control and financial sustainability of the depleting economic resource, and coordinating with monetary policy to reform the banking sector and facilitate investment financing through banks to achieve stability and growth.

These signals are likely to achieve economic reform in the financial and real markets, and subsequently increase economic growth through financial compensation from investment returns, reducing the general budget deficit, and enhancing the government's ability to expand non-oil GDP and absorb external shocks.

 This will then increase the sustainability of domestic public debt and achieve low and stable inflation. Otherwise, the Iraqi economy will reach a crossroads: either embark on diversification and stability, or continue its dependence on oil, with the risks of rents and instability   link

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Mot:  -- the Story of the ""Hare and Tortoise"" and the ""RV Well of Endless Hope""

Once upon a time, deep in the heart of a quiet forest, lived two unlikely friends: Hare and Tortoise. Hare was a blur of energy, always darting from place to place. Tortoise, slow and thoughtful, preferred the steady path.

One fateful season, a terrible drought gripped the land. The once-green forest faded to shades of brown. Rivers vanished, leaves withered, and the animals grew weak with hunger and thirst. Even Hare—usually full of bounce and chatter—sat slumped beneath a dying tree, his spirit as parched as the earth.

Tortoise noticed. “My friend,” he said gently, “don’t lose heart. Even in the darkest moments, there is a way forward.”

Hare sighed. “But how? The streams are gone. The sun burns everything. There’s no end in sight.”

Tortoise’s eyes gleamed with quiet determination. “They say beyond the hills lies the ""RV Well of Endless Hope"". Its waters can revive even the driest land.”

Hare blinked. “But that’s so far! I’m fast, but I can’t run forever.”

Tortoise smiled. “That’s why we’ll go together. You run ahead, I’ll follow at my own pace. Each of us has a role to play.”

And so they set off. Hare raced across the scorched earth, his legs a blur of determination. Tortoise followed, slow but steady, never stopping, never wavering.

Their journey was not easy. Thorny thickets tore at Hare’s fur. Jagged cliffs tested Tortoise’s footing. The sun blazed relentlessly. Yet they pressed on—Hare driven by hope, Tortoise by faith.

Days turned into weeks. Hare, exhausted and dusty, would pause often, looking back. "Tortoise is still coming," he reminded himself. "I can’t quit now. He believes in me."

At last, they reached the final hill. From its peak, the legendary well sparkled like a jewel in the distance. Hare collapsed, panting. Moments later, Tortoise arrived, covered in dust but smiling.

The ""RV Well of Endless Hope"" shimmered in the sun. Hare dipped a paw into its waters—cool, clear, and radiant. “Is it real?” he whispered.

Tortoise nodded. “Drink. Let hope fill you again.”

Hare drank. Energy surged through him. His legs no longer ached. His heart felt light. “Thank you,” he said softly. “You never gave up on me.”

Tortoise nodded. “And you reminded me that speed alone doesn’t win the journey. Hope, courage, and friendship do.”

Together, they carried water back to the forest. Slowly, the land revived. Leaves unfurled, rivers returned, and laughter echoed once more among the trees.

From that day on, Hare and Tortoise became a legend—not for racing, but for restoring life. They taught others that in times of despair, unity and belief can carry you through.

And whenever someone felt defeated, the animals would say,

“Remember the ""RV Well of Endless Hope.”"

So, dear reader, when the path ahead feels impossible, when the world seems dry and dark—remember Hare and Tortoise. Hope is out there, waiting for you.

Seeds of Wisdom RV and Economic Updates Sunday Morning 5-4-25

Good Morning Dinar Recaps,

PRO-CRYPTO DEMOCRATS PULL SUPPORT FOR STABLECOIN BILL IN LAST MINUTE

A group of nine US Senate Democrats say they will oppose the stablecoin bill in its current form, threatening its chances of passing.

A group of US Senate Democrats known for supporting the crypto industry have said they would oppose a Republican-led stablecoin bill if it moves forward in its current form.

The move threatens to stall legislation that could establish the first US regulatory framework for stablecoins, according to a May 3 report from Politico.

Per the report, nine Senate Democrats said in a joint statement that the bill “still has numerous issues that must be addressed.” They warned they would not support a procedural vote to advance the legislation unless changes are made.

Among the signatories were Senators Ruben Gallego, Mark Warner, Lisa Blunt Rochester and Andy Kim — all of whom had previously backed the bill when it passed through the Senate Banking Committee in March.

The bill, introduced by Senator Bill Hagerty, is formally known as the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act.

Senate prepares to vote on stablecoin bill

The Senate is expected to begin floor consideration of the bill in the coming days, with the first vote potentially taking place next week.

The bill has been championed by the crypto industry as a landmark step toward regulatory clarity. However, the Democrats’ about-face reflects growing unease within the party.

Although revisions were made to the bill after its committee approval to address Democratic concerns, the lawmakers said the changes fell short. They called for stronger safeguards related to:

• Anti-Money Laundering

• National Security

• Foreign Issuers

• Accountability measures for noncompliant actors

The statement was also signed by Senators Raphael Warnock, Catherine Cortez Masto, Ben Ray Luján, John Hickenlooper and Adam Schiff.

Senator Kirsten Gillibrand and Senator Angela Alsobrooks were absent from the list, who co-sponsored the bill alongside Hagerty.

Despite their objections, the Democratic senators emphasized their commitment to shaping responsible crypto regulation. They reportedly said they “are eager to continue working with our colleagues to address these issues.”

Crypto needs a stablecoin bill

On April 27, Caitlin Long, founder and CEO of Custodia Bank, criticized the US Federal Reserve for quietly maintaining a key anti-crypto policy that favors big-bank-issued stablecoins, despite relaxing crypto partnership rules for banks.

Long explained that while the Fed recently rescinded four prior crypto guidelines, a Jan. 27, 2023, statement was left intact in coordination with the Biden administration.

The guidance, according to Long, blocks banks from engaging directly with crypto assets and prohibits them from issuing stablecoins on permissionless blockchains.

However, Long noted that once a federal stablecoin bill becomes law, it could override the Fed’s stance. “Congress should hurry up,” she urged.

@ Newshounds News™
Source:  CoinTelegraph

BRICS ACCELERATES CURRENCY SHIFT WITH NEW TRADE TOOLS AND PAYMENT SYSTEMS

BRICS nations are turbocharging their break from Western-dominated finance, advancing local currency trade, cross-border payment systems, and groundbreaking investment platforms to empower the Global South.

BRICS Ministers Push Local Currencies, Cross-Border Payment Plan, and New Investment Platforms

Foreign ministers from the BRICS countries highlighted their commitment to shifting away from reliance on dominant global currencies during a meeting in Rio de Janeiro earlier this week. The official Chair’s Statement from the Meeting of BRICS Foreign Ministers emphasized expanding the use of local currencies in trade and financial transactions within the bloc and with partner countries.

The meeting, hosted under Brazil’s 2025 BRICS Chairship, underscored the group’s intention to enhance economic sovereignty and regional cooperation through new monetary tools. The statement details:

The ministers underscored the importance of the enhanced use of local currencies in trade and financial settlements between BRICS countries and their trade partners.

They referenced paragraph 66 of the Kazan Declaration, which directs finance ministers and central bank governors to continue examining the use of:

• Local currencies

• Payment instruments and platforms

This includes assessing the feasibility of a BRICS cross-border payments initiative, known as BRICS Clear, and enhancing the bloc’s reinsurance capacity, with a mandate to report findings to BRICS leaders. These initiatives are viewed as essential to:

• Deepening financial integration among BRICS members

• Reducing vulnerabilities associated with external economic shocks

The group also reaffirmed its commitment to fostering investment within its own ranks and across the Global South. The statement notes:

They emphasized the importance of continuously expanding local currency financing and strengthening innovation in investment and financing tools and acknowledging the initiative to create new investment platform to boost investment flows into BRICS countries and the Global South mechanisms.

This strategy aligns with broader goals of:

• Financial inclusivity

• Economic resilience

• A transition toward a multipolar economic system that better reflects the interests of emerging markets and developing countries

The focus on local currencies and financial platforms complements ongoing discussions around BRICS-led alternatives to existing global payment systems. Ministers are expected to deliver concrete proposals for BRICS leaders to review, building on the momentum created by prior declarations and new institutional frameworks designed to accelerate intra-bloc economic collaboration.

@ Newshounds News™
Source:  Bitcoin News

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