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Iraq Economic News and Points to Ponder Wednesday Afternoon 12-11-24
Identifying The Most Prominent Ways To Reduce “Manipulation” Of Exchange Rates And Stabilize The National Currency
December 11, 2024 Baghdad/Iraq Observer Today, Wednesday, Advisor to the Prime Minister, Mazhar Muhammad Saleh, revealed ways to
reduce manipulation of exchange rates and
stabilize the national currency, while stressing the
reduction of the use of foreign currencies in unproductive operations.
Identifying The Most Prominent Ways To Reduce “Manipulation” Of Exchange Rates And Stabilize The National Currency
December 11, 2024 Baghdad/Iraq Observer Today, Wednesday, Advisor to the Prime Minister, Mazhar Muhammad Saleh, revealed ways to
reduce manipulation of exchange rates and
stabilize the national currency, while stressing the
reduction of the use of foreign currencies in unproductive operations.
Saleh said in a statement to the official agency and followed by “Iraq Observer”:
“The Prime Minister’s directives to the monetary and financial authorities stressed the intensification of inspection and control procedures for financial transfers and monitoring speculators.
This remains of great importance in
enhancing currency stability and
reducing harmful speculation in the national economy, through mechanisms.” Leading to
combating illegal speculative activities, including specifically:
tightening control over suspicious financial transfers that conflict with the rules of
compliance and transparency and in a way that
reduces the activities. Illegal acts, such as money smuggling or manipulation of exchange rates, which
maintains the stability of the value of the national currency.” He added,
“Taking strict measures against speculators and manipulators in the currency market
strengthens confidence in the financial system and
demonstrates the strength of government policy in protecting the national economy, and
increases the confidence of citizens and investors in the country’s financial system, as well as
directing resources towards the real economy to invest in the opportunities available in it, whether industrial.” Or agricultural or services,” pointing out that
“by limiting speculation, the use of foreign currencies in
unproductive operations is reduced, which
helps save them to finance imports or beneficial investments.” He continued,
“The measures to protect against currency speculation come to limit the negative effects resulting from the impact of regional crises, through preventive measures that reduce the exploitation of economic and political crises in the region to achieve illicit gains, which enhances the stability of the local market.”
Saleh stated that “the importance of reducing speculation and the opportunities of speculators remains to
enhance the efficiency of the banking system through the role of
monitoring financial transfers, which undoubtedly contributes to
revealing the gaps in the banking system and
enhancing governance and transparency in it, as
such measures
are in line with the comprehensive reform plan for the financial sector.” and banking, and aims to
enhance financial stability and
prevent violations that negatively affect the national economy.”
https://observeriraq.net/تحديد-أبرز-طرق-تقليل-التلاعب-بأسعار-ا/
What Is The Relationship Between Gold Imports And Dollar Smuggling In Iraq?
Economy | Yesterday, 13:02 | Baghdad today – Baghdad Economic affairs specialist Ahmed Al-Tamimi confirmed today, Wednesday (December 11, 2024), the use of gold import operations in operations to smuggle the dollar out of Iraq.
Al-Tamimi said, in an interview with “Baghdad Today,” that “recently, there have been more gold imports by the Emirates and Turkey than in previous periods, and this indicates the existence of operations to smuggle the dollar through such import operations, especially since the dollar for these operations is done through the official price.”
Through a special platform, this brings huge profits to some of these smugglers.” He stressed that
"there must be strict controls on importing gold from abroad, and imports must be according to specific weights as well as time frames between one operation and another.
This matter may lead to tightening American measures again on the dollar in Iraq, as
this matter is an indicator of smuggling operations through... Importing gold, and even
Iraqi government agencies are aware of this, and they are working to limit it during the next stage.”
In a related matter, independent MP Kazem Al-Fayad confirmed, on Friday (October 25, 2024), the existence of companies working to smuggle currency abroad in many illegal ways. Al-Fayyad told Baghdad Today:
“There are fake companies in Baghdad and the rest of the governorates that work to smuggle currency.
There are also non-fake companies that also work to smuggle work in many different illegal ways, and
some of them were revealed by the competent authorities during the past periods.”
He stated, “Despite the tightening of security and oversight by the Central Bank and other arties, these companies are still working to smuggle currency, and this is considered the most prominent reason for the continued rise of the dollar in the parallel market, significantly above the official price, and some of these companies are affiliated with influential parties and figures.”
"It takes advantage of this matter in its illegal operations."
On Sunday (August 18, 2024), the Parliamentary Security and Defense Committee revealed the secrets of 6 specific strikes by what it called hard currency smuggling mafias in Iraq.
Committee member Representative Yasser Iskandar Watut told Baghdad Al-Youm,
“Smuggling hard currency in all its forms is a drain on the country’s economic capabilities and leads to pressure on the markets by raising exchange rates which leads to an increase in prices.”
Watout added, “There are efforts being made, some of which are exceptional, through the reports we receive that reflect the continued implementation of a series of strategies to reduce the smuggling of hard currency, which has been controlled by up to 80% in recent months through the efforts of the Ministry of Interior and its formations with the Central Bank, which have achieved results.” positive in this regard.
He pointed out that “six operations that took place in the past months represent qualitative strikes against the hard currency smuggling mafias in Iraq, and they bore fruit.” He explained,
“But has smuggling ended completely?
The answer is no, and efforts are continuing to end these illegal acts, which are carried out with complexities that require intense and multiplied work from before the competent authorities.
https://baghdadtoday.news/263738-ما-علاقة-عمليات-استيراد-الذهب-بتهريب-الدولار-في-العراق؟.html
The Governor Of The Central Bank Of Iraq Receives A Delegation From The International Finance Corporation
December 11, 2024 His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq,
received a delegation from the International Finance Corporation, which included the director of the institution’s financial sector in the region, Mr. Yousef Habash, and Mr. Bilal Al-Zaghir, the resident representative in Iraq, the financial investment officer, and the head of the advisory department.
During the meeting, they discussed strengthening bilateral relations between the Central Bank of Iraq and the International Finance Corporation, the importance of
cooperation between local banks and correspondent banks with technical support from the institution, and the
development of Islamic banks operating in Iraq, as well as the
banking reforms that the bank is carrying out in cooperation with the concerned authorities, especially the restructuring of government banks.
The role of international companies working in this field (Ernst & Young and Oliver Wyman).
His Excellency the Governor discussed the proposal to establish a leasing finance company with local and foreign contributions,
which is one of the financial systems used to provide financing for projects and individuals without the need to directly purchase assets such as
industrial machinery and equipment,
vehicles, offices, and
warehouses.
This proposal supports
emerging projects and
small and medium-sized companies that are looking for easy financing. And flexible.
The meeting discussed the importance of launching Riyada Bank during the next year, which will support projects with small and medium loans, in line with the government’s vision of supporting graduates and entrepreneurs and developing labor markets. Central Bank of Iraq Media office December 11, 2024 https://cbi.iq/news/view/2733
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/
Danielle DiMartino Booth: The Recession the U.S. Needs is Already Underway
Danielle DiMartino Booth: The Recession the U.S. Needs is Already Underway
Palisdes Gold Radio: 12-11-2024
Tom Bodrovics engages in a discussion with Danielle DiMartino Booth, CEO and Chief Strategist for QI Research, former Fed Insider, and author of the book "Fed Up."
Danielle stresses the importance of monitoring private sector actions, particularly in 2025 due to recent job losses and the significance of shelter inflation's impact on the Federal Reserve. She highlights an upward trend in unemployment rates and potential recession expectations, but does not believe one is necessary.
Danielle DiMartino Booth: The Recession the U.S. Needs is Already Underway
Palisdes Gold Radio: 12-11-2024
Tom Bodrovics engages in a discussion with Danielle DiMartino Booth, CEO and Chief Strategist for QI Research, former Fed Insider, and author of the book "Fed Up."
Danielle stresses the importance of monitoring private sector actions, particularly in 2025 due to recent job losses and the significance of shelter inflation's impact on the Federal Reserve. She highlights an upward trend in unemployment rates and potential recession expectations, but does not believe one is necessary.
The conversation touches upon central bankers' confidence bubble and its implications for the current economic climate.
They also delve into commercial real estate markets and the potential repercussions on banks and markets. Serious concerns in this sector have led to double defaults on commercial mortgage-backed securities, with regulators putting pressure on credit rating agencies not to downgrade them.
Tom also inquires about other financial burdens, such as rising unemployment, falling house prices, and mortgage delinquencies, which contribute to significant household financial pressures.
Canadian banks have announced larger losses but maintain they are contained. Banks attempt to slow charge-offs by modifying loans and extending terms, but this approach has limitations due to the possibility of re-default.
Danielle concludes the conversation by encouraging listeners to maturely face sacrifices and embrace long-term benefits that come with cutting government waste.
Time Stamp References:
0:00 - Introduction
0:44 - The Economy & Stats
2:49 - Unemployment & Layoffs
3:38 - Powell & Trump
4:37 - Revisions & Recession
6:25 - Bankruptcies & Rates
8:13 - C.B. Confidence/Hubris
11:22 - Dollar Strength & Trump
14:57 - Inflation Thoughts
16:47 - Housing Confidence
19:38 - Commercial Real Estate
20:57 - Consumers & Banking
22:37 - Safe Assets & Dividends
24:14 - Buy Now Pay Later
? 26:42 - 2025 and Gov't Spending
27:49 - Wrap Up
Talking Points From This Episode
Danielle emphasizes investors monitor private sector actions amid job losses, shelter inflation, and potential recession concerns.
Concerns center around Central bankers' 'confidence', commercial real estate risks, and household financial pressures.
DiMartino cautions listeners that Trump cuts may require short to medium term sacrifices to gain long-term benefits.
Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 12-11-24
Good Afternoon Dinar Recaps,
ICMA ISSUES DLT BONDS REFERENCE GUIDE
Today the International Capital Market Association (ICMA) published a reference guide for DLT based digital debt, or digital bonds. While it describes it as 50 practical questions, the figure is closer to three times that. Despite that, for those familiar with the topic it’s a quick read and provides an excellent planning and execution guide.
The document is the product of ICMA’s DLT Bonds Working group, which is chaired by Union Investment’s Christoph Hock.
Good Afternoon Dinar Recaps,
ICMA ISSUES DLT BONDS REFERENCE GUIDE
Today the International Capital Market Association (ICMA) published a reference guide for DLT based digital debt, or digital bonds. While it describes it as 50 practical questions, the figure is closer to three times that. Despite that, for those familiar with the topic it’s a quick read and provides an excellent planning and execution guide.
The document is the product of ICMA’s DLT Bonds Working group, which is chaired by Union Investment’s Christoph Hock.
“The token economy, and DLT-based bonds in particular, have become increasingly more relevant in recent months,” said Mr Hock, alluding to the recent Eurosystem wholesale DLT settlement trials in central bank money which helped to ramp up activity.
He continued, “Where currently we see a high degree of fragmentation across the value chain, we look forward to greater collaboration and standardisation, which will play a key role in further building the token universe. With its DLT Bonds Reference Guide, ICMA and all involved parties have made a great step in this direction.”
As an asset manager, Union Investment has been one of the most prolific investors in digital bonds, starting with the European Investment Bank’s (EIB) inaugural bond back in April 2021. The EIB has now issued six digital bonds, including two in November as part of the ECB DLT settlement trials.
The guide is a little biased towards Europe, but that’s where the vast majority of issuances have taken place, particularly in Germany and Switzerland. For Europe, Luxembourg is the legal jurisdiction of choice. There have been hardly any issuances in North America, partly the result of custody issues with the SEC’s SAB 121.
In February Hong Kong issued a multi currency bond of more than $750 million, the largest DLT bond to date. However, Germany’s KfW has issued two larger digital bonds totalling €8 billion on Clearstream’s D7 platform.
Technically, as they used a CSD, under German law the KfW bonds are not ‘crypto’ bonds. That’s despite D7 using Digital Asset’s Canton infrastructure. These sorts of questions are included in the reference guide.
ICMA also collaborated with the Monetary Authority of Singapore on the Guardian Fixed Income Framework published last month.
@ Newshounds News™
Source: Ledger Insights
~~~~~~~~~
'CONSUMERS EXPECT IMMEDIATE AND EFFICIENT TRANSACTIONS': TOKENIZATION GAINS MOMENTUM
▪️Tokenization is merging traditional finance and blockchain, creating new opportunities for financial innovation.
▪️Panelists discuss regulation and future potential.
Integrating real-world assets into blockchain systems opens new possibilities in the digital asset space. At the recent Benzinga Future of Digital Assets event, panelists explored the intersection of traditional finance and blockchain, highlighting how tokenization creates opportunities for financial innovation and accessibility.
Bridging the Old and New
Panelist Robert Leshner, CEO of Superstate, emphasized the potential of tokenization to merge conventional financial markets with blockchain technology. “We're seeing firms like Superstate act as bridges between the two by taking traditional assets, creating a token, and moving them on-chain,” Leshner said. This shift is beginning to blur the lines between digital and traditional financial systems.
Emma Marriott, co-founder of Atomic, also noted the increasing demand for streamlined integration. "Consumers expect immediate and efficient transactions," she said, pointing to Atomic's role in enabling smooth transitions between traditional and digital asset platforms. "We're helping firms expand their offerings to meet these expectations, whether they're moving from crypto to traditional assets or vice versa."
Driving Institutional Interest
Institutional players closely watch these developments, particularly how tokenized assets can enhance portfolio diversification and liquidity. Leshner explained how tokenization allows assets to be used across various decentralized finance (DeFi) protocols. “We're starting to see assets that began entirely within the crypto ecosystem now being joined by tokenized versions of traditional financial instruments," he said.
Charlie Sandor, investment partner at CMT Digital, highlighted the broader implications of tokenization for financial efficiency. “Platforms like Coinbase are facilitating payment networks between off-chain and on-chain systems, demonstrating how these worlds are merging in ways that were unthinkable just a few years ago,” he said.
Regulation and Adoption
Panelists also addressed the regulatory hurdles that continue to shape the adoption of tokenized assets. Leshner acknowledged that while the potential is vast, compliance remains a critical challenge. "We're at an early stage of understanding what open and autonomous financial markets look like," he said, adding that creating frameworks that satisfy both traditional compliance standards and blockchain's decentralized ethos is essential for future growth.
Marriott echoed this sentiment, pointing to the role of regulation in driving consumer trust. "As firms navigate these regulatory challenges, they're building the infrastructure needed to make these systems more accessible and trustworthy for everyday users," she said.
Looking Ahead
The panel concluded by focusing on what lies ahead for tokenization and its role in the financial ecosystem. Leshner predicted a rise in highly controlled and permissioned assets within DeFi platforms. "These systems will evolve to accommodate both traditional and decentralized markets, creating hybrid models that leverage the strengths of both," he said.
With traditional and blockchain-based systems converging, tokenization is poised to transform how assets are managed, traded, and utilized. The panelists agreed that this transformation is just beginning, with 2025 expected to bring significant progress in integrating real-world assets into blockchain ecosystems.
@ Newshounds News™
Source: Benzinga
~~~~~~~~~
MASON DEBUNKED TRUMP'S CRAZIEST CLAIMS AND HERE'S WHAT I FOUND | Youtube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
~~~~~~~~~
Seeds of Wisdom Team RV Currency Facts Youtube and Rumble
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Q & A Classroom Link
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Seeds of Wisdom RV and Economic Updates Wednesday Morning 12-11-24
Good Morning Dinar Recaps,
BRICS NEWS: EXPERT SAYS NATIONS WILL EVENTUALLY DITCH US RESERVES FOR BITCOIN
With the ongoing tension between the BRICS alliance and the United States, one expert has theorized that most nations will eventually end up ditching US dollar reserves for Bitcoin. Indeed, economist Jeremy Siegel recently noted that the leading crypto has emerged as a threat to the greenback’s global standing.
Senior economist at WisdomTree, Siegel, discussed the curiosity of Trump’s continued embrace of Bitcoin. Specifically, he noted that the asset class is far more dangerous to the US dollar’s dominance than gold or any BRICS currency, according to a Benzinga report.
Good Morning Dinar Recaps,
BRICS NEWS: EXPERT SAYS NATIONS WILL EVENTUALLY DITCH US RESERVES FOR BITCOIN
With the ongoing tension between the BRICS alliance and the United States, one expert has theorized that most nations will eventually end up ditching US dollar reserves for Bitcoin. Indeed, economist Jeremy Siegel recently noted that the leading crypto has emerged as a threat to the greenback’s global standing.
Senior economist at WisdomTree, Siegel, discussed the curiosity of Trump’s continued embrace of Bitcoin. Specifically, he noted that the asset class is far more dangerous to the US dollar’s dominance than gold or any BRICS currency, according to a Benzinga report.
Expert Says Bitcoin, Not BRICS, Is Greatest Threat to US Dollar
Since 2022, when Russia invaded Ukraine, the BRICS bloc has been on a mission. Specifically, the collective has sought ways to ditch the US dollar in international trade.
Moreover, it has moved to lessen the global reliance on the Western currency. These decisions appeared made out of necessity. With the West sanctioning Russia, forcing it to rely on allies in the global south.
Yet, those de-dollarization plans have been confronted by President-elect Donald Trump. Moreover, with 100% tariffs planned under the returning president, things have certainly gotten interesting. For one economist, the incoming commander-in-chief’s position appears inconsistent, to say the least.
Indeed, amid the BRICS scuffle, finance expert Jeremy Siegel has said nations will likely eventually ditch the US dollar reserves for Bitcoin. What makes that interesting is that Trump has recently paraded BTC’s all-time increase above the $100,000 mark.
“I found it curious that Trump threatened 100% tariffs for the BRICS nation wanting to implement a new reserve currency, while also championing the rise of Bitcoin’s price surpassing $100,000 and attributing it to his pro-crypto world view,” Siegel said.
“Bitcoin is viewed by many as an alternative global currency similar to what the BRICS are looking to achieve,” he added. “Bitcoin is far more of a threat to replace the dollar in world reserves than anything created by the emerging market economies.”
The asset’s recent surge supports Siegel’s position. Bitcoin has been skyrocketing in value and is projected to reach $200,000 next year. Trump’s pro-BTC position could fuel global accumulation. Therefore, driving even more countries away from the dollar.
@ Newshounds News™
Source: Watcher Guru
~~~~~~~~~
HONG KONG LOOKS TO SPEED UP CRYPTO REGULATION AMID RISING SECTOR DEMANDS
Hong Kong is exploring ways to expedite updates to its crypto regulations in response to the fast-growing global sector.
The fast growth of the crypto sector is pushing Hong Kong to reconsider its regulations, with talks focused on speeding up changes to meet growing industry needs. A proposal raised in the Legislative Council on Dec. 11 highlights the pressure on the government to keep up with the global rise in crypto investments.
In a written response, Acting Secretary for Financial Services and the Treasury, Joseph Chan, admitted that while the virtual assets sector offers financial innovation opportunities, it also presents new “complexities to the financial system.”
He emphasized Hong Kong’s commitment to keep up with international standards, noting that the city “has key influence in the regulation and development of VA.”
However, Chan didn’t go into detail on how or when Hong Kong plans to adjust its crypto regulations to stay competitive.
Moreover, some lawmakers have even raised concerns about the need for a more comprehensive approach. There is speculation that Hong Kong could establish a dedicated department or commissioner to oversee crypto policies, following international trends.
One way or the other, the question of whether cryptocurrencies like Bitcoin should be included in Hong Kong’s fiscal reserves still seems to be open. In the meantime, Chan pointed out that crypto-assets are not currently a target asset for Hong Kong’s Exchange Fund.
“It cannot be ruled out that there may be investments involving crypto-assets during the investment operations of the external managers at different points of time, but the relevant proportion is minimal,” Chan said.
@ Newshounds News™
Source: Crypto News
~~~~~~~~~
BINANCE AND CIRCLE ANNOUNCE STRATEGIC PARTNERSHIP TO ADVANCE GLOBAL CRYPTO ADOPTION
Key partnership between Binance and Circle seeks to accelerate the adoption of USDC and digital assets worldwide.
Binance and Circle Join Forces for Global Crypto Adoption
A new strategic partnership between Binance and Circle Internet Group was launched at the Abu Dhabi Finance Week. The cooperation will increase the use of USD Coin (USDC) and promote the growth of the global digital assets and financial services ecosystem.
This partnership combines a reliable and compliant digital currency with the biggest platform for using digital assets globally, thanks to USDC’s expansion and widespread use.
Through the collaboration, Binance will expand the availability of USDC throughout their whole range of goods and services, guaranteeing that over 240 million Binance users worldwide can easily access and utilize USDC for applications related to trading, saving, and payments. Binance will also use USDC as a key dollar stablecoin for their corporate treasury.
Richard Teng, CEO of Binance shared his thoughts about the partnership.
“Through our strategic partnership, our users will have more opportunities to use USDC on our platform, including more USDC trading pairs, special promotions on USDC across trading, and other products on Binance.
We will also work closely with Circle to drive innovation and utility for stablecoins globally. Working together as a team, we believe we can materially push forward the possibilities for the internet financial system.”
Jeremy Allaire, Chairman and CEO of Circle echoed Teng’s thoughts on the partnership.
“With Binance rapidly becoming the world’s leading financial super app, this is a tremendous opportunity for USDC as it becomes ubiquitous on the Binance platform. I’m thrilled to be working with the Binance leadership team as they continue to build the largest digital asset company in the world.”
This partnership aims to consolidate the role of USDC in digital payments, promising broader adoption and innovation in the crypto space.
@ Newshounds News™
Source: Bitcoin News
~~~~~~~~~
CRYPTO SUCCESS SECRETS NOBODY SHARES | Youtube
Crypto Ledger, Nathan, and Seeds of Wisdom Team, Salty Toes and R Jax, discuss Crypto, Gold, and the direction of the future financial system.
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
~~~~~~~~~
Seeds of Wisdom Team RV Currency Facts Youtube and Rumble
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News, Rumors and Opinions Wednesday AM 12-11-2024
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 Wed. 11 Dec. 2024
Compiled Wed. 11 Dec. 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Judy Note: WARNING Scammers are everywhere. It is my understanding that:
(1) If you don’t presently physically hold currency or bonds, you don’t own them. Do not give your bonds or currency to anyone else to redeem. You are the only one who can exchange and redeem them. If you have a problem in doing that, ask the person you talk to when you set your appointment to help work out the problem.
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 Wed. 11 Dec. 2024
Compiled Wed. 11 Dec. 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Judy Note: WARNING Scammers are everywhere. It is my understanding that:
(1) If you don’t presently physically hold currency or bonds, you don’t own them. Do not give your bonds or currency to anyone else to redeem. You are the only one who can exchange and redeem them. If you have a problem in doing that, ask the person you talk to when you set your appointment to help work out the problem.
(2) Do not exchange your currency at a bank. They will not (allegedly) give you the higher rates, nor the Contract Rates that a Redemption Center was authorized to give you.
(3) The Zim can only (allegedly) be redeemed at a Redemption Center, not at a bank.
(4) Some Redemption Centers are located in private banks, but make sure it is a Redemption Center where you do your business.
Fri. 6 Dec. 2024 TNT Intel Summary: Bank meetings today to discuss final aspects of RV. Three Letter Agencies say “IT’S DONE.” US and Canada started paying VIPs on Wed. 4 Dec, Thurs. 5 Dec, and today Fri. 6 Dec. The Iraqi Dinar being paid right now at $3.49 in-country.
Sat. 7 Dec. 2024: Rumor was that Vietnam had revalued their Dong in-country.
Sun. 8 Dec. 2024: Four day Victory Celebration begins in Iraq from Sun. 8 Dec. to Wed. 12th Dec. 2024. …Britt Vibes on Telegram posted by Wolverine
Tues. 10 Dec. 2024 MarkZ: A number of my contacts from Iraq that very much believe we will cross the finish line in the next three days.
Tues. 10 Dec. 2024 TNT: Kurdistan was using the Dinar in-country at a $3.28 rate today.
Tues. 10 Dec. 2024 : A banker and others have contacted me saying Iraq was exchanging the Dinar at a new and higher in-country rate. It is a 24-36 hour window before it reaches Tier4b (us, the Internet Group).
~~~~~~~~~~~~~~
Tues. 10 Dec. 2024 Bruce: (RUMORS)
You can present at your exchange appointment, a list of six people who need Med Bed appointments: name, age, phone number
Information late last night pointed toward us getting notified today, but a person needed to be removed at the Treasury.
The emails for Redemption Centers have not yet gone out, but once they are received Tier 3 and Tier 4a,b (Us, the Internet Group) will be given redemption appointments.
Notifications for Tier4b appointments should happen tomorrow Wed. 11 Dec., with exchange appointments on Thurs. 12 Dec. 2024.
Iraqis were to receive their funding today, but it could have been moved to tomorrow Wed. 11 Dec. 2024.
Bond Holders should receive access to funds on Thurs. 12 Dec. 2024.
~~~~~~~~~~~~~~
Global Financial Crisis:
A wave of financial collapses in multiple markets is happening across the world. Black Swan or Black Monday? Stocks and crypto have plunged as investors start to panic while a global sell-off deepens. Absolute chaos in Japan as stocks are on track for their biggest decline in more than eight years, following a significant drop last Friday. This is an even larger drop than the Black Monday crash of 1987. South Korea has halted all sell orders as markets crash more than 5%. In the United States, the Magnificent 7 stocks have erased nearly $500 billion overnight. With rumors of World War III and civil war across Europe, the markets are expecting an even deeper crash tomorrow. https://t.me/+pjtzOFcoBb8wZWNk
Read full post here: https://dinarchronicles.com/2024/12/11/restored-republic-via-a-gcr-update-as-of-december-11-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 Sudani is waiting for the success of the budget in order to release the new exchange rate. That success will come when the laws are given to him...He wants to give you the budget [with] exchange rate...Nothing is going to stop Sudani anymore. That's the beauty of what I'm seeing right now...All I care about is what Sudani is doing and it is phenomenal.
Militia Man The private sector is here to stay for Iraq. Iraq's population has doubled in the last two decades. There's plenty of youth and now they will have plenty of opportunity with the private sector...They're moving forward and they're not stopping. It's going to be more and more evident as we go because they are going to have to do what they said they were going to do - bring purchasing power to the people...
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BRICS Currency Anger the US, Trump Threaten 100% Tariffs: Is Dollar Falling?
Fastepo: 12-11-2024
$2800, Silver Targets Explosive Highs: Don’t Miss This Year-End Surge! | Chris Vermeulen
Sprott Money: 12-11-2024
December is here, and the precious metals market is heating up!
Craig Hemke and Chris Vermeulen discuss the latest trends in gold and silver, why seasonality could drive a year-end rally, and what to watch as we enter 2024.
Could gold break $2800 and silver surge past $36? Learn why miners are leading the charge and how tax-loss selling could impact the market. Prepare your portfolio with insights from the experts!
“Tidbits From TNT” Wednesday Morning 12-11-2024
TNT:
Tishwash: Kurdistan Region President suffers heart attack
An informed source revealed, today, Tuesday (December 10, 2024), that the President of the Kurdistan Region, Nechirvan Barzani, suffered a mild heart attack while he was in Paris.
The source said in an interview with Baghdad Today, "The President of the Kurdistan Region, Nechirvan Barzani, suffered a mild heart attack while he was in the French capital, Paris."
He added, "He was transferred to the hospital and his health condition is currently stable." link
TNT:
Tishwash: Kurdistan Region President suffers heart attack
An informed source revealed, today, Tuesday (December 10, 2024), that the President of the Kurdistan Region, Nechirvan Barzani, suffered a mild heart attack while he was in Paris.
The source said in an interview with Baghdad Today, "The President of the Kurdistan Region, Nechirvan Barzani, suffered a mild heart attack while he was in the French capital, Paris."
He added, "He was transferred to the hospital and his health condition is currently stable." link
************
Tishwash: Al-Sudani: Iraq is a key member of the international coalition
Prime Minister and Commander-in-Chief of the Armed Forces, Mr. Mohammed Shia Al-Sudani, received today, Tuesday, Commander of the US Central Command, General Michael Kurilla, and his accompanying delegation.
The meeting witnessed discussions on cooperation and coordination between Iraq and the international coalition in combating terrorism and confronting extremism. The Prime Minister stressed that Iraq is a key member of this coalition and is committed to cooperating with the international coalition to confront and monitor terrorist groups in a way that preserves security and stability in the region. In return, Mr. Kurilla stressed the commitment of the international coalition to support Iraq in preserving its security and sovereignty against any terrorist threat.
The meeting also included discussions on the latest developments in Syria and the ongoing repercussions in the region, where Mr. Al-Sudani stressed the importance of respecting the free choices of the Syrian people and Iraq's readiness to help the Syrians in these circumstances and the transitional phase.
His Excellency pointed out the necessity of preserving Syria's security, the unity of its territories, the safety of its people, and the ethnic, religious, and social diversity it enjoys, stressing the importance of preventing any attack on any of the components of the Syrian people or its religious sanctities, and that Iraq will follow the course of events and the credibility of actions, not words.
Mr. Al-Sudani reiterated Iraq's commitment to working with Arab and neighboring countries to help the Syrians and consolidate security and stability in the region. link
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Tishwash: UN Mission: Iraq has proven to the world that it is capable of overcoming challenges and building the future
The United Nations Assistance Mission for Iraq (UNAMI) confirmed today, Monday, that Iraq has proven to the world that it is capable of overcoming challenges and creating the future.
The mission stated in a statement issued on the occasion of Victory Day in Iraq, and received by the Iraqi News Agency (INA): "On December 10, Iraq celebrates Victory Day, in commemoration of the liberation of its lands from the control of the terrorist organization ISIS. This day represents an important national milestone in which the country recalls the great sacrifices made by the Iraqis to restore their land and establish security and stability throughout the homeland."
It added, "Victory Day, in addition to being an occasion for heartfelt congratulations, comes to emphasize the need to preserve the gains achieved thanks to the efforts of everyone here in Iraq in addition to their partners from around the world. It also represents a call for everyone to strengthen national unity and joint action for a strong Iraq capable of facing challenges and free from the tensions and conflicts that plague the region."
She continued, "On this occasion, we also appreciate the achievements made since the field victory over terrorism, and we call for continued work to rid Iraq not only of the remnants of ISIS, but also of all forms of extremism and fanaticism. We look forward to an Iraq in which everyone enjoys security, peace, respect for human rights and the rule of law, and to turning the pages of the painful past forever by promoting national reconciliation in a way that ensures the preservation of gains, focusing on what unites the word and unifies the ranks, and avoiding areas of division and division, including controversial topics that do not contribute to strengthening the unity of the fabric of society and the cohesion of its components."
She indicated that "our great hope is that the joy of victory will be complete with the return of all those forcibly displaced due to this conflict to their homes with dignity and safety and when all Iraqi citizens are returned from Al-Hol camp in northeastern Syria and integrated into society."
"In this context, we appreciate the great efforts made by the Iraqi government, with the support of the UNAMI mission and the team of United Nations organizations working in Iraq, in these files in particular," she added, noting that "the United Nations renews on this occasion its full support for Iraq, government and people, in restoring sovereignty and full control over its territories and achieving stability and sustainable development."
The mission concluded its statement by saying, "Iraq has proven to the world that it is capable, with the solidarity of its people, of overcoming challenges and creating a brighter and more prosperous future for all its citizens." link
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Tishwash: Prime Minister returns to Baghdad after short visit to Jordan
Prime Minister Mohammed Shia al-Sudani returned to the capital, Baghdad, today, Wednesday, after a short visit to Jordan.
The Prime Minister's Media Office stated in a statement received by the Iraqi News Agency (INA), "Prime Minister Mohammed Shia al-Sudani returned to the capital, Baghdad, after a short visit to Jordan."
He added, "The Prime Minister met King Abdullah II during the visit."
Baghdad/Al-Masala: Prime Minister Mohammed Shia al-Sudani stressed, on Wednesday, the importance of standing by the brotherly Syrian people, while stressing the need to intensify international efforts to reach an immediate halt to the aggression on Gaza.
Al-Masala publishes the text of the statement:
Prime Minister Mohammed Shia Al-Sudani met today, Wednesday, in the Jordanian capital, Amman, with His Majesty King Abdullah II of the Hashemite Kingdom of Jordan, where they discussed current developments in the region and events in the Syrian arena.
The meeting witnessed emphasis on the importance of enhancing bilateral coordination in order to confront regional and international challenges, and continuing efforts to prevent the expansion of the conflict in the Middle East, and the risk of sliding into chaos.
Mr. Al-Sudani stressed the importance of standing by the brotherly Syrian people in these difficult circumstances, the necessity of respecting the free will of all Syrians, preserving the unity of Syrian territory, the country’s sovereignty, and its ethnic, religious, and social diversity, and supporting the Syrian people’s choices towards building a stable and prosperous Syria that ensures the participation of all its components in managing the country’s affairs, continuing consultations with all parties, and exchanging visions to present effective initiatives that serve common interests and enhance stability in the region.
The two sides also stressed the need to intensify international efforts to reach an immediate halt to the aggression on Gaza, and to double relief and medical aid to reduce the suffering of the people of the Strip, while warning of the danger of continued hostile actions by settlers against the Palestinians in the West Bank, as well as working to make efforts to ensure the consolidation of the ceasefire in Lebanon and guarantee its stability.
The meeting discussed aspects of bilateral relations between the two countries, ways to enhance them, and continue working to build fruitful partnerships in various fields, in the interest of the two brotherly peoples.
Prime Minister's Media Office
December 11, 2024 link
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Mot: .... Splains it Huh
Mot: .. Getting Tough - the More I Season!!!
Seeds of Wisdom RV and Economic Updates Tuesday Evening 12-10-24
Good Evening Dinar Recaps,
RIPPLE (XRP) RECEIVES FINAL APPROVAL FROM NYDFS FOR RLUSD
Ripple Labs (XRP) has officially received final approval from the New York State Department of Finance (NYDFS) for its stablecoin RLUSD.
Ripple’s CEO Brad Garlinghouse made the announcement in a post to X Tuesday afternoon, revealing the latest achievement.
Good Evening Dinar Recaps,
RIPPLE (XRP) RECEIVES FINAL APPROVAL FROM NYDFS FOR RLUSD
Ripple Labs (XRP) has officially received final approval from the New York State Department of Finance (NYDFS) for its stablecoin RLUSD.
Ripple’s CEO Brad Garlinghouse made the announcement in a post to X Tuesday afternoon, revealing the latest achievement.
“This just in…” the announcement reads, “we have final approval from @NYDFS for $RLUSD! Exchange and partner listings will be live soon – and reminder: when RLUSD is live, you’ll hear it from @Ripple first.” The news means that we may see the arrival of RLUSD as soon as this month.
Following its years-long legal battle with the SEC, Ripple has flourished in the final months of 2024. The company’s native cryptocurrency is now the fifth largest in the world by market cap. Ripple Labs’ decision to launch a stablecoin was also met with optimistic ears earlier this year.
The coin has been ready for some time and could see its door to New York City, one of the finance capitals of the world, open up soon.
Over the past month, Ripple Labs has seen plenty of success, especially with its native cryptocurrency XRP. The asset is up over 200% in the last 30 days. The XRP Ledger has also seen significant success, especially on the world stage.
Last month, the software company made waves in BRICS countries India and Russia. The Russian government has taken a significant step in digital asset regulation, passing a bill recognizing XRP and other cryptocurrencies. The bill also established a clear taxation framework for crypto.
In addition, the Reserve Bank of India (RBI) also announced a collaboration with Ripple Labs for the virtual Rupee initiative.
Ripple RLUSD To Pump XRP Price?
The arrival of RLUSD is also expected to further pump XRP Price. Currently, XRP is trading at $2.255, up 7% in the last hour alone. With Christmas around the corner, the market is also getting into the festive spirit, with investors hoping that the realm would favor their XRP investments more seriously.
Predictions have been raised for the asset over the remainder of the year, with projections touching near $3, contains the assets surge. Should the Ripple stablecoin RLUSD launch in the next week, expect Ripple to see further growth.
Garlinghouse has yet to provide an estimated launch date for the stablecoin. However, the NYDFS’ approval is a great sign. https://watcher.guru/news/ripple-xrp-receives-final-approval-from-nydfs-for-rlusd
@ Newshounds News™
Source: Watcher Guru
~~~~~~~~~
EU’S MICA CRYPTO RULES: WILL THE DECEMBER DEADLINE DISRUPT STABLECOINS?
Several EU countries are struggling to implement MiCA regulations on time, potentially disrupting the crypto market.
The December deadline for crypto service providers and stablecoin issuers is causing concerns, with industry groups calling for a delay.
MiCA's regulations on stablecoins, especially the volume limits, aim to protect the Euro's dominance and could impact the broader crypto market.
The European Union’s new cryptocurrency regulations, known as MiCA (Markets in Crypto-Assets), are set to take effect by the end of the year.
These rules aim to create a unified framework for crypto operations across Europe. However, many countries are behind in updating their local laws, raising concerns about disruptions—especially for stablecoins.
Nations Falling Behind
Countries like Belgium, Italy, Poland, Portugal, Luxembourg, and Romania haven’t yet adjusted their laws to align with MiCA. This delay puts crypto businesses in these regions at risk of missing the December deadline, which could slow down the rollout of the EU-wide regulations.
In Poland, the proposed legislation is stuck in committee. Portugal is debating how to divide responsibilities between regulators. Belgium is waiting on political decisions, while Ireland’s Central Bank has started processing applications but warns the process will take time. Similarly, Malta, Italy, Cyprus, and Lithuania face delays, with Malta needing to update its crypto laws to meet MiCA’s requirements.
A Unified Vision for Crypto Regulation
MiCA’s goal is to create consistent rules for crypto service providers, such as exchanges, custodians, and wallet operators, across the EU. To continue operating, businesses must secure licenses from their national regulators. However, many regulators are struggling to process these applications in time, creating uncertainty as the deadline approaches.
The implementation is split into two phases.
The first phase began in June and required stablecoin issuers to obtain authorization. The second phase, with a December deadline, focuses on licensing crypto service providers like exchanges and wallet providers.
Industry Calls for More Time
Crypto industry groups are asking for an extension to the December deadline, arguing that the short time frame between the finalization of technical standards in October and the compliance deadline isn’t enough. They propose a six-month extension to help regulators manage the flood of applications and prevent disruptions to crypto businesses.
The European Securities and Markets Authority (ESMA) is set to meet on December 11 to review the situation. While updated guidance may be provided, no official delay has been confirmed. If the deadline remains, some firms may need to pause operations in the EU.
For individual users, the immediate impact is expected to be minimal, but these adjustments are part of the growing pains in the evolving crypto space.
A Big Threat to Stablecoins?
Under MiCA, stablecoins face strict rules designed to limit their volume and prevent them from competing with the Euro. Since many stablecoins are pegged to the USD, these regulations could significantly impact their use in Europe. Starting in December, stablecoin issuers will need e-money licenses from at least one EU country.
While larger players like Circle are already meeting these requirements, smaller issuers may struggle. These changes could set a precedent for stricter rules on other tokens seen as not sufficiently decentralized, signaling more oversight for the crypto industry in the future.
What happens in December might not just affect Europe but could redefine the rules for crypto everywhere.
@ Newshounds News™
Source: Coinpedia
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@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
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Some Iraq News posted by Clare at KTFA 12-10-2024
KTFA:
Clare: Tomorrow, Wednesday... 146 diplomatic and international figures visit Basra
12/10/2024 Basra /
The Culture, Media and Tourism Committee of Basra Provincial Council announced that "the Ministry of Foreign Affairs will organize an exploratory trip to Basra Governorate, starting tomorrow, Wednesday, for three days. To view the achievements of major strategic and development projects.
The head of the committee, Aqil Al-Furaiji, said in a statement: "The trip will witness a wide diplomatic presence, as invitations were extended to about 146 official figures, including ambassadors, chargés d'affaires and representatives of international organizations such as the United Nations, the European Union and the World Bank.
KTFA:
Clare: Tomorrow, Wednesday... 146 diplomatic and international figures visit Basra
12/10/2024 Basra /
The Culture, Media and Tourism Committee of Basra Provincial Council announced that "the Ministry of Foreign Affairs will organize an exploratory trip to Basra Governorate, starting tomorrow, Wednesday, for three days. To view the achievements of major strategic and development projects.
The head of the committee, Aqil Al-Furaiji, said in a statement: "The trip will witness a wide diplomatic presence, as invitations were extended to about 146 official figures, including ambassadors, chargés d'affaires and representatives of international organizations such as the United Nations, the European Union and the World Bank.
He indicated that "Basra has today become a prominent destination at all levels due to its tangible successes in various fields, noting that the visit is an opportunity to acquaint diplomatic missions with the extent of the achievements and developments witnessed by the city."
He pointed out that: "The Ministers of Foreign Affairs and Transport will be part of the visiting delegation, and the guests will be received by the Governor of Basra. The local government has also prepared a comprehensive program that includes field trips to view the achievements of the major strategic and development projects that the governorate has recently witnessed.
Al-Furaiji said that: "These achievements have contributed to restoring Basra's historical luster and true identity, which has made it the focus of attention of countries, investors, international and Arab companies, intellectuals and visitors. LINK
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Clare: Iraq Development Fund announces imminent launch of 4 basic projects
12/10/2024 Baghdad - WAA - Hassan Al-Fawaz,
Chairman of the Iraq Development Fund, Mohammed Al-Najjar, revealed today, Tuesday, the fund's future plans, while confirming the imminent launch of 4 basic projects.
Al-Najjar said in a statement to the Iraqi News Agency (INA): "The fund has spent the first year of its work arranging and organizing its affairs, given that it is a completely new experience in Iraq, and has no local backgrounds," noting that "international companies and institutions were hired to support it in this field."
He added, "During the second year, the focus was on 4 main projects that will be launched soon through (Ejr w Tamlik), and now we are ready to start the projects that we promised the public."
He pointed out that "during the coming period, new projects will be announced, approximately every month, with a new announcement," noting that "each project goes through preparation and study stages that may take from 6 to 7 months in order to reach convictions that these projects are good and serve citizens by preparing correct partners and financing because we work extensively with the private sector."
He continued: "Soon, many projects will appear on the ground." LINK
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Clare: Bahr Al-Uloom: The government has allocated $100 billion to support major projects over three years
12/9/2024 Baghdad - WAA - Hassan Al-Fawaz
Undersecretary of the Ministry of Foreign Affairs for Bilateral Relations, Mohammed Hussein Bahr Al-Ulum, stressed today, Monday, the importance of strengthening bilateral relations between Iraq and Greece, and while confirming that the government is proceeding with the development road project, he revealed that it has allocated a budget estimated at 100 billion dollars to support major strategic projects over 3 years.
"I am honored to welcome you to this Iraqi-Greek forum, which represents a milestone in the course of relations between our two friendly countries," Bahr al-Uloom said during his speech at the Iraqi-Greek forum in the capital Baghdad, attended by the correspondent of the Iraqi News Agency (INA), indicating that "organizing this forum reflects our joint commitment to strengthening the bonds of friendship and cooperation, and provides a valuable opportunity to exchange ideas and explore new horizons for a fruitful partnership that serves the interests of the two peoples."
He pointed out that "Iraqi-Greek relations are not new, but rather date back to the thirties of the last century, when Greek companies played an important role in the renaissance of Iraq, especially in the fields of infrastructure."
Bahr al-Uloom stressed that "in light of the security and economic improvement that Iraq is witnessing today, we are ready to support a strong return of Greek companies to invest in the promising Iraqi market, which is full of diverse opportunities."
He explained that "the visit of the Greek delegation is a prominent station to strengthen bilateral relations in the economic field," noting that "during this visit, in-depth discussions were held with Iraqi officials on vital files, and promising understandings were reached that we hope will soon be translated into tangible projects that benefit both countries."
Bahr Al-Uloom stressed that "Iraq believes in the importance of real partnerships that are built on the basis of common interests, and we look forward to benefiting from the expertise of Greek companies and their pioneering trade."
Bahr Al-Uloom highlighted the ambitious vision of the Iraqi government, led by Prime Minister Mohammed Shia Al-Sudani, which aims to develop the Iraqi economy by supporting the private sector and stimulating foreign investment. He explained that “the government has launched initiatives, including the Iraqi Development Fund to attract foreign investments in cooperation with prestigious international funds, in addition to providing sovereign guarantees to support the private sector in implementing these projects.”
He pointed out that “the government has allocated a budget estimated at $100 billion over three years to implement major infrastructure projects, and this is a suitable ground for the participation of Greek companies,” noting that “the government is proceeding with the strategic development road project that links the East and West at the lowest cost and establishes new economic cities in Iraq.”
Bahr Al-Uloom explained that “the government plans to build one million new housing units, which provides wide areas for international companies, in addition to opportunities in the energy sector, as Iraq produces 4 million barrels of oil per day and ranks third in production. It also has large gas reserves, and aims to develop its production in this field over the next five years.”
Bahr Al-Uloom stressed that “Iraq seeks to develop the pharmaceutical and food industries with annual needs It exceeds 3 billion dollars," noting that "Iraq, thanks to its security stability and economic vision, is a reliable strategic partner for Greek companies." LINK
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Clare: Al-Bandawi: Our borders with Syria are secure and what happened in 2014 will never happen again
12/10/2024
Member of the Parliamentary Security and Defense Committee, Ali Al Bandawi, confirmed that the Iraqi border with the Syrian side is “secure and cannot be penetrated.”
Al-Bandawi told Al-Furat News Agency: "The Iraqi-Syrian border is 100% secure. We visited the Border Guard Forces Command and met with the security leaders in the presence of the Minister of Interior. We were assured of the border situation thanks to the deployment of security forces, the procedures of placing concrete, digging a trench 4 meters wide and 3 meters deep, distributing barbed wire, watchtowers, thermal cameras, drones and intelligence efforts."
He added, "Behind these procedures are the Ministry of Defense forces from various army formations and then the Popular Mobilization Forces."
Al-Bandawi pointed out that "the border is secure and we assure the Iraqi people that the border is solid and there will be no entry of any ISIS terrorist element or other terrorist groups as happened in 2014 and that this event will never be repeated."
Raghad LINK
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Clare: Prime Minister: Victory Day has become a milestone in our people's journey
12/9/2024 Baghdad - WAA
Prime Minister Mohammed Shia Al-Sudani confirmed today, Monday, that Victory Day is a day when all Iraqis are proud of what they achieved 7 years ago in a resounding victory over the defeated ISIS gangs, stressing that Victory Day has become a milestone in the path of our people.
The Prime Minister said in a speech on the occasion of Victory Day - followed by the Iraqi News Agency (INA): "We remember a day when all Iraqis are proud of what they achieved 7 years ago in a resounding victory over the defeated ISIS gangs," indicating that "Victory Day has become a milestone in the journey of our people."
The Prime Minister added that "the first thing we remember on this day is that victory has become a reality that we boast about throughout history thanks to the sacrifices of the martyrs and the wounded and supported by the supreme authority with its blessed fatwa," explaining that "friends and brothers stood with us in the face of terrorism; because the Iraqis fought on behalf of the world."
The Prime Minister stressed that "the victory of the Iraqis is the victory of humanity in the face of the threat that terrified the region and the world," adding that "terrorism no longer has a foothold on the land of Iraq today and its remnants have nothing but defeat and flight before our armed forces."
He explained that "our forces crush terrorists wherever they find them," indicating that "there are still those who are waiting for opportunities, delusional, to breathe life into the remaining terrorists."
The Prime Minister continued, "We must continue to confront alien ideas and everything that destroys our social and cultural values," explaining, "We must address all the gaps that enabled terrorism to infiltrate in 2014."
The Prime Minister stressed that "our Iraq emerged strong, healthy, victorious and determined to build, reconstruct and develop," adding, "We have continued to support and extend the power of law, achieve justice, reconstruct liberated areas, support their people and return all their residents to their land."
He pointed out that "the victory of the Iraqis over the defeated ISIS gangs is a confirmation of the importance of the unity of our people," stressing the need to "warn against the danger of suspicious calls that aim to obstruct the wheel of life that the heroes of victory created with their sacrifices."
The Prime Minister explained that "Iraqi cities have become a workshop for reconstruction and progress," warning against the consequences of "fueling conflicts that produce more destruction and causes of wars."
The Prime Minister continued, "Today, we are following the events in neighboring Syria and we are hopeful that the countries of the region and the world will assume responsibility to preserve the security and sovereignty of Syria," stressing, "the necessity of leaving the choice to the Syrian people and respecting their free will, along with the international responsibility to preserve the unity of Syrian territory and protect diversity."
The Prime Minister concluded his speech, "Terrorism came to Iraq across the border and we defeated it with great sacrifices." LINK
Iraq Economic News and Points to Ponder Tuesday Afternoon 12-10-24
Dollar Prices Drop Slightly In Baghdad and Erbil At Closing
Economy | 10/12/2024 Mawazine News – Economy The US dollar exchange rate in the Iraqi capital Baghdad witnessed a slight decline on Tuesday evening, and prices in Erbil, the capital of the Kurdistan Region, recorded a similar decline with the closing of the stock exchanges.
The dollar prices also decreased with the closing of the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 150,700 dinars per 100 dollars, compared to 150,800 dinars in the morning.
Dollar Prices Drop Slightly In Baghdad and Erbil At Closing
Economy | 10/12/2024 Mawazine News – Economy The US dollar exchange rate in the Iraqi capital Baghdad witnessed a slight decline on Tuesday evening, and prices in Erbil, the capital of the Kurdistan Region, recorded a similar decline with the closing of the stock exchanges.
The dollar prices also decreased with the closing of the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 150,700 dinars per 100 dollars, compared to 150,800 dinars in the morning.
Selling prices stabilized in the local exchange markets in Baghdad, where the selling price reached 151,750 dinars per 100 dollars, while the purchase price reached 149,750 dinars per 100 dollars.
In Erbil, the dollar also recorded a slight decline, where the selling price reached 150,400 dinars per 100 dollars, while the purchase price recorded 150,300 dinars per 100 US dollars. https://www.mawazin.net/Details.aspx?jimare=257307
Baghdad Stock Exchange closes higher... 151,750 dinars per 100 dollars
Money and business Economy News – Baghdad The US dollar exchange rate continued to rise against the Iraqi dinar, with the closing of trading at the Al-Kifah Stock Exchange in Baghdad.
The selling price in exchange shops was recorded at 151,750 dinars for 100 dollars, while the purchase price was 149,750 dinars for 100 dollars.
Amid the discrepancy between the official and parallel price, most local markets are experiencing a state of stagnation due to their impact on the US dollar. https://economy-news.net/content.php?id=50730
Gold Rises 0.6 Percent
Time: 2024/12/10 17:16:08 Reading: 247 times {Economic: Al Furat News} Gold prices rose during trading on Tuesday, supported by the escalation of geopolitical tension in the Middle East and expectations of a reduction in US interest rates during the current month.
Investors are awaiting key US inflation data due later this week.
Spot gold rose 0.6 percent to $2,674.39 an ounce by 11:01 GMT.
As for other precious metals, silver rose in spot transactions by 0.1 percent to $31.85 per ounce, platinum fell by 1 percent to $938.11, while palladium fell by 0.2 percent to $972.67. LINK
Globally.. Slight Decrease In Oil Prices
Economy | - 10/12/2024 Mawazine News – Baghdad Oil prices edged lower on Tuesday, holding onto most of their gains from the previous session, as heightened geopolitical risks following events in Syria and China’s pledge to increase fiscal stimulus helped support prices.
Brent crude futures were down 13 cents, or about 0.2%, at $72.01 a barrel, while U.S. West Texas Intermediate (WTI) crude futures were down 14 cents, or also 0.2%, at $68.23.
Both futures rose more than 1% on Monday. https://www.mawazin.net/Details.aspx?jimare=257298
Minister Of Culture: Crowning Baghdad As The Arab Tourism Capital Will Create Many Investment Opportunities
Local | 10/12/2024 Mawazine News – Baghdad Minister of Culture and Antiquities Ahmed Fakak Al-Badrani confirmed today, Tuesday, that crowning Baghdad as the capital of Arab tourism will create many investment opportunities, while indicating that this coronation will increase job opportunities in popular markets and professions.
Al-Badrani told the official agency: "18 items were included on the agenda of the Executive Council of Arab Tourism Ministers, the most prominent of which is choosing the capital of Arab tourism," noting that "the support of Prime Minister Mohammed Shia Al-Sudani and the efforts made in Baghdad by everyone culminated in the council's unanimous vote to make beautiful and beloved Baghdad the capital of Arab tourism for the year 2025."
He explained that "this is one of the great achievements made under the government of the Prime Minister, and the assistance of the Council of Ministers and all ministries contributed to achieving this decision," noting that "the Baghdad Municipality made great efforts in achieving this, in addition to the entire ministry's staff represented by the Tourism Authority, the Antiquities Authority and the Culture Directorate in the ministry, which made great efforts to show the beauty and splendor of the beautiful nights of Baghdad."
He added, "This is good news for all Iraqis that Baghdad, which history has turned its back on for a while, has returned strongly to Arab circles and the international community to be the capital of Arab tourism and a destination for tourists in 2025," indicating that "this is a great achievement for the government and in the coming days many details about this issue will be revealed."
Al-Badrani pointed out that "this issue has many importance, the first of which is to shed light on the fact that Baghdad has returned as a safe and secure city that sleeps peacefully on the banks of the Tigris and welcomes with open arms all tourists from everywhere, in addition to Baghdad being a large library represented by Mutanabbi Street and the universities in Baghdad."
He stressed that "this decision has an important economic aspect, as tourism has stopped and been disrupted for many known reasons, but now Baghdad will be crowded and there will be great job opportunities and many in the popular markets and professions," indicating that "many owners of capital will try to come to Baghdad to look for an investment opportunity."
https://www.mawazin.net/Details.aspx?jimare=257306
Iraq Development Fund Announces Imminent Launch Of 4 Basic Projects
Mohammed Al-Najjar Construction and reconstruction Economy News - BaghdadOn Tuesday, the head of the Iraq Development Fund, Mohammed Al-Najjar, revealed the fund’s future plans, while confirming the imminent launch of 4 basic projects.
Al-Najjar said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "the fund has spent the first year of its work arranging and organizing its affairs, given that it is a completely new experience in Iraq, and has no local backgrounds," noting that "international companies and institutions were used to support it in this field."
He added that "during the second year, the focus was on 4 basic projects that will be launched soon through (Ejr wa Tamlik), and now we are ready to start the projects that we promised the public."
He pointed out that "during the coming period, new projects will be announced, approximately every month, with a new announcement," noting that "each project goes through preparation and study stages that may take from 6 to 7 months in order to reach convictions that these projects are good and serve citizens by preparing correct partners and financing because we work extensively with the private sector." He continued: "Soon, many projects will appear on the ground."
127 views Added 12/10/2024 - https://economy-news.net/content.php?id=50718
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/
Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 12-10-24
Good Afternoon Dinar Recaps,
USDT IS NOW APPROVED AS ACCEPTED VIRTUAL ASSET IN ABU DHABI
Tether has announced that Abu Dhabi’s Financial Services Regulatory Authority has approved the company’s U.S. dollar-pegged stablecoin as an accepted virtual asset.
According to the announcement on Dec. 10, Tether is now available to authorized individuals and entities regulated within the Abu Dhabi Global Market. FSRA is a market regulator in Abu Dhabi under the Abu Dhabi Global Market. The FSRA is a market regulato r under the ADGM, which operates as a financial-free zone in the United Arab Emirates.
Good Afternoon Dinar Recaps,
USDT IS NOW APPROVED AS ACCEPTED VIRTUAL ASSET IN ABU DHABI
Tether has announced that Abu Dhabi’s Financial Services Regulatory Authority has approved the company’s U.S. dollar-pegged stablecoin as an accepted virtual asset.
According to the announcement on Dec. 10, Tether is now available to authorized individuals and entities regulated within the Abu Dhabi Global Market. FSRA is a market regulator in Abu Dhabi under the Abu Dhabi Global Market. The FSRA is a market regulato r under the ADGM, which operates as a financial-free zone in the United Arab Emirates.
USDT’s approval is part of FSRA’s mandate to regulate virtual asset service providers in the country. VASPs are required to comply with anti-money laundering and combating the financing of terrorism regulations.
In its announcement, Tether stated that the approval enables FSRA-licensed individuals and entities to offer USDT-powered services in the region. The agency pre-approves such services. With this acceptance, users within the ADGM can use USDT on Ethereum, Solana, and Avalanche.
Paolo Ardoino, chief executive officer of Tether, commented:
“This milestone underscores Tether’s commitment to fostering global financial inclusion and innovation. By bringing USD₮ to the forefront of ADGM’s regulated virtual asset framework, we are not only validating the importance of stablecoins as critical tools for modern finance but also opening new doors for collaboration and growth across the Middle East.”
USDT is the world’s largest U.S. dollar-pegged stablecoin, with a market cap of over $138 billion. Its adoption across the payments market and crypto space has allowed it to dominate other stablecoins, contributing to Tether’s record-breaking revenue figures.
Tether also revealed in a report on Dec. 9 that on-chain wallets with USDT exceeded 109 million at the start of the fourth quarter of 2024. Meanwhile, total wallets that have ever received USDT has surpassed 400 million.
Elsewhere, the Middle East and North Africa region has increasingly become a key market.
In May this year, Tether announced its expansion in the UAE via a partnership with web3-focused platform RAK Digital Assets Oasis. The collaboration aimed at promoting adoption of Bitcoin and stablecoins in technology in UAE’s sixth-largest city Ras Al Khaimah.
In August, Tether revealed plans for a dirham-pegged stablecoin.
@ Newshounds News™
Source: Crypto News
~~~~~~~~~
MICROSOFT SHAREHOLDERS REJECT PROPOSAL TO ADD BITCOIN TO RESERVES
Shareholders opposed the motion, pointing to bitcoin’s volatility as a key concern. Microsoft’s history with the world’s largest cryptocurrency has been cautious.
Microsoft shareholders voted to reject a resolution to add Bitcoin to the company’s balance sheet during its annual meeting on Tuesday.
The resolution was proposed by the National Center for Public Policy Research (NCPPR), a pro-free-market think tank based in Washington, D.C. The NCPPR framed the initiative as a corporate responsibility to diversify profits and enhance shareholder value.
As part of the proposal, a pre-recorded video was presented during the meeting. The video opened with the statement, “Microsoft can’t afford to miss the next technology wave, and bitcoin is that wave." The decision to reject the proposal aligns with the board’s recommendation, which emphasized Microsoft’s existing strategy of evaluating a wide range of investable assets, including bitcoin, within it broader investment framework.
The recent arrival of new derivatives trading solutions, including options on the black rock ETF are only likely to strengthen that narrative as is the burgeoning liquidity on those and other venues around the world alongside the relatively newer role of bitcoin as a capital markets activity catalyst as evinced in recent convertible bond issuance by a number of the digital asset industries larger players.
Microsoft’s history with bitcoin has been cautious. The company briefly accepted the cryptocurrency as a payment method in 2014 but suspended the option in 2016, citing low usage and regulatory uncertainties. Today's result aligns with the views of Microsoft co-founder Bill Gates, who has been a vocal critic of cryptocurrencies.
Bitcoin experienced a 3% pullback over the past 24 hours, adding to broader uncertainty in the cryptocurrency market. The global cryptocurrency market cap declined by almost 5% in the same period, now standing at $3.73 trillion, according to CoinGecko data.
Despite Microsoft’s stance, discussions around bitcoin adoption at the corporate level are becoming increasingly common. Cryptocurrency derivatives trader Gordon Grant noted the significance of these debates.
"The fact that we are having conversations about whether one of the world's largest entities could or should maintain a position in bitcoin on its balance sheets as a financial principal says far more about the arrival of bitcoin as a tier one asset, than the actual outcome of the decision," Grant told The Block.
Grant also highlighted the growing interest in bitcoin as a capital markets catalyst, pointing to recent convertible bond issuances by MicroStrategy as evidence of bitcoin’s evolving role in financial markets.
"Utilization of bitcoin as a financial diversifier, as a conveyance for the transfer of monetary value, and as a vector for what MicroStrategy's Michael Saylor has called global digital capital, continues to gain currency," Grant said.
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Source: The Block
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PRESIDENT JEST A NEW STATE? | Youtube
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Tim Price: Real Assets are Returning to the Playbook of the 1970s
Tim Price: Real Assets are Returning to the Playbook of the 1970s
Palisades Gold Radio: 12-20-2024
Tom welcomes back Tim Price from Price Value Partners, to discuss the happenings on the other side of the pond. Price shares concerns over Europe's chaos, comparing it unfavorably to the US under Trump, who he sees as reducing 'woke culture' and neo-Marxist economic policies.
He criticizes the media for losing credibility due to untruths and emphasizes the importance of understanding debt economics. Price reflects on his experiences during the exchange rate mechanism crisis and shares skepticism towards state planning, believing it has historically failed.
Tim Price: Real Assets are Returning to the Playbook of the 1970s
Palisades Gold Radio: 12-20-2024
Tom welcomes back Tim Price from Price Value Partners, to discuss the happenings on the other side of the pond. Price shares concerns over Europe's chaos, comparing it unfavorably to the US under Trump, who he sees as reducing 'woke culture' and neo-Marxist economic policies.
He criticizes the media for losing credibility due to untruths and emphasizes the importance of understanding debt economics. Price reflects on his experiences during the exchange rate mechanism crisis and shares skepticism towards state planning, believing it has historically failed.
Tim also covers the potential swing from left to right in politics and corruption issues, with Trump's election seen as a possible catalyst for change.
Additionally, gold or non-fiat money is suggested as an alternative to the corrupted monetary system.
Price calls for individual empowerment and market efficiencies, criticizes central banks, and advocates for real assets and value investing.
He discusses potential implications of Bitcoin reaching new heights and Tether's role in it. Throughout the interview, Tim Price encourages listeners to consider traditional investments like gold and silver, often overlooked despite their attractive valuations compared to the stock market.
Time Stamp References:
0:00 – Introduction
0:39 - State of Europe
2:48 - Trump & Pendulum Swings
7:54 - Trends & Growing Debt
10:17 - Bond Mkt Predictions
15:50 - Endemic Issues
20:23 - Milei & Trump
22:04 - Global Cuts & Change
23:00 - Fixing Corrupt Money
26:55 - The Invisible Hand?
31:34 - 40-Year Rate Regime
37:30 - Too Early & Wrong
44:53 - Silvers Potential
48:04 - Finding Cheap Assets
50:00 - Bitcoin 100k
50:55 - Dollar Strength?
55:42 - Time & Cheap Assets
59:43 - Miners Underperformance
1:02:17 - Contraian-isms
1:03:07 - Wrap Up
Talking Points From This Episode
Europe's chaos contrasted unfavorably to US under Trump, with concerns over 'woke culture' and neo-Marxist economic policies.
Media narratives criticized for losing credibility due to untruths, stressing importance of understanding debt economics in politics.
Skepticism towards state planning historically, individual empowerment, real assets, value investing promoted.
Seeds of Wisdom RV and Economic Updates Tuesday Morning 12-10-24
Good Morning Dinar Recaps,
ARGENTINA ALLOWS U.S. CRYPTO ETFS TO ENTER THE LOCAL MARKET
Argentina’s financial regulator allowed foreign crypto-related products from the United States to enter the local market, which will unlock the inflow from overseas.
The board directors of Argentina‘s securities regulator, Comisión Nacional de Valores (CNV), announced that the U.S. exchange-traded fund (ETF), including crypto-related ETFs, are now available in the country.
Good Morning Dinar Recaps,
ARGENTINA ALLOWS U.S. CRYPTO ETFS TO ENTER THE LOCAL MARKET
Argentina’s financial regulator allowed foreign crypto-related products from the United States to enter the local market, which will unlock the inflow from overseas.
The board directors of Argentina‘s securities regulator, Comisión Nacional de Valores (CNV), announced that the U.S. exchange-traded fund (ETF), including crypto-related ETFs, are now available in the country.
Under CEDEAR’s program, which is regulated by RG No. 1030, Bitcoin spot ETF and Ethereum spot ETF will be released and ready to trade. This product was prohibited under Law No. 27440 for 6 years.
“it is a pleasure to announce these first approvals, which constitute new investment options provided for in this very innovative law,” CNV’s president Roberto E. Silva, on official statement.
Although details on which Bitcoin ETF issuer would be allowed to enter the country are not provided, the commission is opening the door for digital asset investment through the capital market.
In the same document, CNV also announced that gold ETFs are allowed to enter the capital market with the GLD ticker, as well as the S&P 500 index. Chinese stock market indexes with FXI ticker were also introduced.
The regulators hope that these innovations of law could boost passive management indices, commodities, and digital assets, which are listed abroad and not publicly offered around the territory.
Argentina’s public Bitcoin mining
Argentina, one of the countries in Latin America that allow Bitcoin for transactions, publicly showcases Bitcoin mining, which is powered by the Central Bank of Argentina (BCRA).
This Bitcoin mining installation symbolises support from the government and embraces the future of digital money through cryptocurrency. This was the first central bank to showcase Bitcoin mining.
An aggressive move is part of Argentina’s President Javier Milei’s vision to fight against hyperinflation, which skyrocketed to almost 300% in April 2024, and to drive the digital economy in the country. Since then, according to Trading Economics, the inflation rate has gradually decreased to under 200% in less than a year.
@ Newshounds News™
Source: Crypto News
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UAE’S CENTRAL BANK APPROVES FIRST AED-BACKED STABLECOIN
The first AED-backed stablecoin has received approval from the UAE’s central bank. This marks a key change in the country’s digital currency system. The UAE central bank’s move strengthens cryptocurrency regulations and sets new rules for digital currency and stablecoin approval.
This step makes crypto transactions safer and more stable. This stablecoin approval shows the UAE’s push toward digital currency growth.
How UAE’s First AED-Backed Stablecoin Addresses Cryptocurrency Challenges
AE Coin Launch and Implementation
AE Coin got the first license to create a UAE Dirham-linked stablecoin under new payment rules. One AE Coin equals one dirham, making it a stable payment option. Ramez Rafeek, General Manager of AED’s stablecoin, says:
“AE Coin harnesses the speed and efficiency of blockchain technology, offering instant, secure, and cost-effective transactions. It simplifies transfers, making them faster and more seamless. In a rapidly evolving digital world, AE Coin sets a new standard for trust, security, and innovation in digital currency.”
Market Growth and Transaction Patterns
UAE’s stablecoin market grew to US$9.8 billion in early 2024, up 55% from 2023. Stablecoins lead with 51% of crypto activity, more than Bitcoin and Ether combined. This growth shows trust in cryptocurrency regulations and digital money systems.
Retail and Institutional Adoption
Small transfers make up 93% of all transactions, but big institutions move most of the money. Business and institutional trades account for 74% of all value moved. The AED-backed stablecoin will likely boost these numbers by offering a safe, regulated platform.
Future Developments and Market Impact
More stablecoins are coming to UAE. Tether plans to launch its AED-backed coin in early 2025 with Green Arcon Investments Ltd and Phoenix Group PLC. This makes UAE a stronger digital currency center. The UAE central bank’s rules ensure these new tools are safe and stable.
Integration with Financial Services
The new stablecoin will change online shopping, money transfers, and decentralized finance. It gives companies and people modern banking tools while keeping traditional currency stability through cryptocurrency regulations.
@ Newshounds News™
Source: Watcher Guru
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DO YOU NEED A TRUST TO EXCHANGE CURRENCY | Youtube
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“Tidbits From TNT” Tuesday Morning 12-10-2024
TNT:
Tishwash: UN Mission: Iraq has proven to the world that it is capable of overcoming challenges and building the future
The United Nations Assistance Mission for Iraq (UNAMI) confirmed today, Monday, that Iraq has proven to the world that it is capable of overcoming challenges and creating the future.
The mission stated in a statement issued on the occasion of Victory Day in Iraq, and received by the Iraqi News Agency (INA): "On December 10, Iraq celebrates Victory Day, in commemoration of the liberation of its lands from the control of the terrorist organization ISIS. This day represents an important national milestone in which the country recalls the great sacrifices made by the Iraqis to restore their land and establish security and stability throughout the homeland."
TNT:
Tishwash: UN Mission: Iraq has proven to the world that it is capable of overcoming challenges and building the future
The United Nations Assistance Mission for Iraq (UNAMI) confirmed today, Monday, that Iraq has proven to the world that it is capable of overcoming challenges and creating the future.
The mission stated in a statement issued on the occasion of Victory Day in Iraq, and received by the Iraqi News Agency (INA): "On December 10, Iraq celebrates Victory Day, in commemoration of the liberation of its lands from the control of the terrorist organization ISIS. This day represents an important national milestone in which the country recalls the great sacrifices made by the Iraqis to restore their land and establish security and stability throughout the homeland."
It added, "Victory Day, in addition to being an occasion for heartfelt congratulations, comes to emphasize the need to preserve the gains achieved thanks to the efforts of everyone here in Iraq in addition to their partners from around the world. It also represents a call for everyone to strengthen national unity and joint action for a strong Iraq capable of facing challenges and free from the tensions and conflicts that plague the region."
She continued, "On this occasion, we also appreciate the achievements made since the field victory over terrorism, and we call for continued work to rid Iraq not only of the remnants of ISIS, but also of all forms of extremism and fanaticism. We look forward to an Iraq in which everyone enjoys security, peace, respect for human rights and the rule of law, and to turning the pages of the painful past forever by promoting national reconciliation in a way that ensures the preservation of gains, focusing on what unites the word and unifies the ranks, and avoiding areas of division and division, including controversial topics that do not contribute to strengthening the unity of the fabric of society and the cohesion of its components."
She indicated that "our great hope is that the joy of victory will be complete with the return of all those forcibly displaced due to this conflict to their homes with dignity and safety and when all Iraqi citizens are returned from Al-Hol camp in northeastern Syria and integrated into society."
"In this context, we appreciate the great efforts made by the Iraqi government, with the support of the UNAMI mission and the team of United Nations organizations working in Iraq, in these files in particular," she added, noting that "the United Nations renews on this occasion its full support for Iraq, government and people, in restoring sovereignty and full control over its territories and achieving stability and sustainable development."
The mission concluded its statement by saying, "Iraq has proven to the world that it is capable, with the solidarity of its people, of overcoming challenges and creating a brighter and more prosperous future for all its citizens." link
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Tishwash: Iraq signs MoUs with 15 Greek companies to invest in various sectors
The Ministry of Trade explained, on Monday, the importance of resuming the meetings of the Iraqi-Greek Joint Committee, while the Federation of Iraqi Chambers of Commerce indicated the signing of memoranda of understanding with 15 Greek companies to invest in various sectors.
The administrative undersecretary of the ministry, Sattar Al-Jaberi, said in a speech during the Iraqi-Greek Business Forum, which was attended by the correspondent of the Iraqi News Agency (INA): "The participation of the Greek delegation, which includes representatives from the government sector and an elite of businessmen and investors in this important forum, constitutes a valuable opportunity to enhance economic and trade relations between the two countries and consolidate the bonds of joint dealing."
He added that "this important forum, held under the auspices of the Iraqi Ministry of Trade and with direct support from the Minister of Trade, aims to support and develop trade and economic relations with friendly countries, including the Republic of Greece," praising "the pioneering role played by the Federation of Iraqi Chambers of Commerce, headed by Abdul Razzaq Al-Zuhairi, in building international cooperation and creating a supportive environment for businessmen."
He pointed out "the efforts made by the Ministry of Trade, represented by its various institutions and the Director General of Economic Relations, to activate the joint economic and trade committees with brotherly and friendly countries."
He stressed "the importance of resuming the meetings of the Iraqi-Greek Joint Committee, which have not been held since 2000, as a necessary step to develop cooperation in various economic and trade fields in a way that achieves the common interests of the two countries."
He called on "the Greek delegation to participate actively in the next course of Baghdad International Fair, which is a unique platform for showcasing investment and trade opportunities and enhancing communication between Iraqi and Greek businessmen."
For his part, the head of the Federation of Iraqi Chambers of Commerce, Abdul Razzaq Al-Zuhairi, confirmed during the conference: "We signed many memoranda of understanding with countries around the world, including 15 major Greek companies to work in various sectors including (construction, building, health and agriculture), indicating that "this forum is positive and reflects a good image of Iraq to the world that it is healthy and does not resemble yesterday."
He continued, "The purpose of the conferences or meetings is to create continuous work with our Greek partners to invest and work inside Iraq," expressing his "thanks to the government with its legislative and executive authorities for supporting the Federation of Chambers of Commerce, which represents the largest segment." link
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Tishwash: Will the local market be affected by the events in Syria? A detailed Iraqi view of the scene
The economic expert, Abdul Rahman Al Mashhadani, presented a detailed vision of the possibility of the local market being affected by the events in Syria after the fall of Syrian President Bashar Al Assad.
Al-Mashhadani ruled out via {Al-Furat News}: "The Iraqi market was greatly affected by the events in Syria because trade with Syria was greatly reduced after the sanctions imposed by America on banks," noting that "there are alternatives to Syrian products, as imports from them were mainly fruits and vegetables."
He expected that "there will be a positive impact on the dollar and that the value of the Iraqi dinar will improve in the coming period, and if the American sanctions on Syria are eased, it will have a positive impact, considering that it was one of the links in the sanctions."
Al-Mashhadani explained that "the American position towards the events in Syria is positive and there is clear support, as evidenced by the fact that the American side is thinking of removing the names of terrorist organizations from the so-called front that entered Damascus, which will lead to flexibility in commercial dealings."
He stressed that "the situation in general needs time for things to stabilize and for the borders to reopen."
The dollar exchange rate against the dinar decreased on Monday afternoon in Baghdad markets, coinciding with the closing of the stock exchange.
The dollar exchange rate reached 150,700 dinars for $100 at the close of the Al-Kifah and Al-Harithiya stock exchanges, while this morning it recorded 151,000 dinars for $100.
The selling price in exchange shops in the local markets in Baghdad was 151,750 dinars for $100, while the purchase price was 149,750 dinars for $100. link
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Mot: Gots to Love ole ""Earl"" to much fudge
Mot: Sad Christmas Tree
