Iraq Economic News and Points to Ponder Sunday Afternoon 12-14-24

The Central Bank And The Securities Commission Sign A Joint Memorandum Of Understanding To Enhance Cooperation

Economy  |  12/15/2024  Mawazine News – Baghdad  The Securities Commission announced today, Sunday, the signing of a joint memorandum of understanding with the Central Bank to enhance cooperation.

The Deputy Chairman of the Securities Commission, Nagham Hussein Ismail, told the official agency: "Based on the joint cooperation between government institutions, and in view of the desire of the Securities Commission and the Central Bank of Iraq to create a joint cooperative framework for both parties that contributes to achieving the goals of sustainable development in the banking sector, a memorandum of understanding was signed between the two parties."

She added that "signing the agreement came to enhance cooperation between the two parties in the field of information related to shareholders, and to benefit from the electronic window for the shareholders system approved by the Iraq Stock Exchange." / End H https://www.mawazin.net/Details.aspx?jimare=257487

Al-Sudani Discusses With Al-Hassan Plans For Economic Reform And Fighting Corruption In Iraq

Politics | 12/15/2024  Mawazine News – Baghdad   Prime Minister Mohammed Shia Al-Sudani discussed, today, Sunday, with the Special Representative of the Secretary-General of the United Nations, Mohammed Al-Hassan, plans for economic reform and combating corruption in Iraq.

A statement from his media office received by Mawazine News stated that "Al-Sudani received the Special Representative of the Secretary-General of the United Nations in Iraq, Mohammed Al-Hassan, to review the relations and joint programs between Iraq and the international organization, and to discuss the latest developments in the situation in Syria.

He added that "the meeting discussed the government's efforts to complete economic reform plans, combat corruption and other sectors according to the government program, and the government's positions that enhance stability and development in Iraq."

In another context, the two sides discussed the latest developments in the region, and in Syria in particular, where Al-Sudani stressed "Iraq's support for the unity of Syrian lands, preserving civil peace, minority rights, social, cultural and ethnic diversity, non-interference in internal affairs, and helping the Syrians overcome this difficult stage." For his

part, Al-Hassan praised "the government's steps in the areas of reform, and the strides it has made in the fields of development, in addition to the clear position on the events in Syria, and the readiness to help the Syrian people, and provide relief to the Lebanese and Palestinian peoples." https://www.mawazin.net/Details.aspx?jimare=257497

Dollar Stabilizes In Baghdad, Declines In Erbil As Stock Exchange Closes

Economy  |  12/15/2024  Mawazine News – Baghdad  The US dollar exchange rate stabilized against the Iraqi dinar in Baghdad markets on Sunday, while it declined slightly in Erbil, the capital of the Kurdistan Region, with the closing of the stock exchange.

The dollar exchange rate stabilized with the closing of the two main stock exchanges in Baghdad, Al-Kifah and Al-Harithiya, recording 150,800 dinars per 100 dollars, the same price it recorded this morning.

The selling prices stabilized in exchange shops in local markets in Baghdad, where the selling price reached 152,000 dinars per 100 dollars, while the purchase price reached 150,000 dinars per 100 dollars.

In Erbil, the dollar recorded a slight decline, where the selling price reached 150,200 dinars per 100 dollars, and the purchase price reached 150,100 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=257495

Oil Prices Hit 3-Week High

Sunday 15 December 2024 09:18 | EconomicNumber of readings: 173  Baghdad / NINA / Brent crude oil prices rose last week to their highest level since November 22, up 5% on a weekly basis.  West Texas Intermediate crude rose 6% on a weekly basis and achieved their highest levels since November 7.

During trading last Friday, Brent crude futures rose by $1.08, or 1.5%, to $74.49 per barrel at settlement, and US West Texas Intermediate crude futures rose by $1.27, or 1.8%, to $71.29.

Analysts at consulting firm Ritter Bush & Associates said that what drove this rise were expectations of tightening sanctions on Russia and Iran, more supportive Chinese economic guidance, political unrest in the Middle East, and speculation of a US interest rate cut next week. /End11 https://ninanews.com/Website/News/Details?key=1174699

‘;KAdvisor to the Prime Minister for Investment Affairs, Executive Director of the Iraq Development Fund, Mohammed Al-Najjar

Money and business  Economy News – Baghdad  The Iraq Development Fund confirmed on Sunday that the government pays great attention to developing the health sector, while pointing to the launch of 3 investment opportunities in the medical field, and seeking to develop it with the participation of the private sector.

The Director of the Iraq Development Fund and Advisor to the Prime Minister for Investment Affairs, Mohammed Al-Najjar, said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "the government pays great attention to the health sector, given the urgent need to develop it and improve its services."

Al-Najjar explained that "the Iraq Development Fund is working to invest with the private sector to develop this vital sector," noting that "three investment opportunities have been launched to establish three investment companies in the medical field, where the fund participates as a partner with 20% of the capital, with the aim of stimulating and attracting foreign and local investors to expand the volume of investments in this field."

He added that "current investments depend largely on Iraqi individual capabilities, and we seek to expand them by establishing companies that will work in the required medical specialties, with the aim of reducing reliance on treatment outside Iraq."

He stressed that "these companies seek to provide medical services similar to those provided abroad, in cooperation with the private sector, in order to meet the needs of citizens and provide an advanced treatment environment within the country."

Views 26 12/15/2024 - https://economy-news.net/content.php?id=50917

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 12-15-24

Good Afternoon Dinar Recaps,

ATKINS AND SACKS: PIONEERS OF CRYPTO REGULATION?

Following Gary Gensler’s resignation, Paul Atkins was nominated to take over as the new Chairman of the SEC—the approval of which would mark his return to the Commission after a 17-year hiatus and could mark a drastic change for the crypto industry and digital assets.

Paul Atkins Returns: A New SEC

A current Chief Executive at Patomak Global Partners, Atkins is a veteran of the financial world. Atkins started his career as an attorney on Wall Street in the 1980s before eventually earning the title of SEC Commissioner in the early 2000s. Beginning his career in the financial wild west, and spending his tenure at the SEC in the wake of the dotcom bubble, Atkins has considerable experience in novel financial markets.

As head of a consulting firm that advises emerging fintech companies on the regulatory environment, Atkins has sensibly become involved in the crypto industry. Notably, in the Spring of 2020, Atkins joined the board of advisors for the Chamber of Digital Commerce, the world’s first and largest blockchain trade association. Prior to joining the Chamber’s board, Atkins served as co-chair of the Chamber’s Token Alliance, where he “focused on token issuances, trading platforms, and other areas under the SEC’s purview.”

Atkins has also served on the advisory board of Securitize, a company that works on tokenizing securities with Blackrock and $Ondo. Ondo Global Markets, which is set to launch early next year, plans to offer tokenized stocks and bonds on-chain. As Chairman of the SEC, Atkins would be able to open the door to tokenization companies that are looking to bring transparency and efficiency to traditional financial markets.

A firm believer in free markets, Atkins has notoriously criticized the Dodd-Frank legislation that came in the wake of the financial crisis as overly-burdensome on the banking industry. Given Atkins’ previous support of SEC Commissioner Hester Pierce’s crypto safe harbor proposal, it appears he will bring the same view to the crypto industry as Chairman.

This is evident by Atkins’ public advocacy for an SEC approach that enables new markets such as crypto to flourish in a healthy environment. For example, while at the Chamber of Digital Commerce, Atkins has been a longtime champion for bringing about regulatory clarity for token projects.

Criticizing the Howey test as “quite old” and questioning “whether or not it’s still current,” Atkins suggested the Supreme Court could use the Ripple case to reexamine Howey’s “coherence in the current environment and whether it needs to be tweaked.”

Atkins has also previously indicated that the then-incoming SEC chair—Gary Gensler—could withdraw the agency’s lawsuit against Ripple. While that failed to happen under Gensler, Atkins’ comment raises an interesting possibility for the future of the SEC’s case with him now at the helm.

Paul Atkins’ nomination as Chairman of the SEC ushers in a wave of optimism for the crypto industry, potentially signaling an end to its unnecessary battle with the Commission. With his broad experience navigating both traditional and emerging markets from both the public and private sectors, Atkins is uniquely positioned to bridge the gap between legacy financial systems and the rapidly evolving blockchain and tokenization ecosystems by providing a clear regulatory environment.

The New Czar: David Sacks’ Mission to Jumpstart Crypto and AI

Another win for the crypto community was scored with the appointment of David Sacks as the United States’ first Crypto and AI Czar. Making his name as an early PayPal executive, Sacks has since developed his own successful venture capital firm, Craft Ventures.

A believer in revolutionizing the payments system, Sacks did not stray far from the space. Since leaving PayPal, Sacks has invested significantly in cryptocurrencies like bitcoin and Solana, while also helping fund crypto companies such as Lightning Labs, BitGo, and Bitwise.

Sacks has been a longtime proponent of digital assets, explaining in 2017 that cryptocurrencies are fulfilling PayPal’s “original vision” of creating a “database of money.” In the runup to the recent election, Sacks highlighted “[w]hat the crypto industry has been asking for more than anything else is a clear legal framework to operate under,” and suggested that a Trump victory would provide that.

Now, the president-elect has given Sacks the opportunity to make that a reality. According to Trump’s announcement, Sacks’ primary role as Crypto and AI Czar will be “to work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the US.”

Sacks has been a critic of the SEC’s unpredictable approach to regulation by enforcement and advocates for delineating a clear line between SEC and CFTC jurisdiction.

On his All-In podcast, Sacks supported the Financial Innovation and Technology for the 21st Century Act, which would have classified digital assets running on decentralized blockchains as commodities subject to the CFTC’s jurisdiction.

Despite ultimately failing in the Senate, Sacks is hopeful some variation of the bill will pass in a now-united Congress. In addition to Sacks, some Courts have also taken umbrage with the SEC’s positions relating to the digital asset space.
Given the novelty of the Crypto and AI Czar position, it is unclear how much of a role Sacks will be able to play in the formal decision-making process. Regardless, the Silicon Valley financier will be able to act as a knowledgeable liaison between the President and the regulatory agencies and guide policy discussions toward establishing a healthy framework for crypto.

The Future, In America

Together, Atkins and Sacks bring a breadth of experience and a forward-thinking approach to navigating the complexities of emerging technologies. From Atkins advising Wall Street in the original Wild West of finance, to Sacks’ membership in the “PayPal Mafia,” these two have a unique understanding of revolutionary finance.

Atkins and Sacks’ nominations mark a pivotal moment for cryptocurrency and suggest a brighter regulatory future ahead. Pioneers in both the AI and crypto industries—from Sam Altman to Brian Armstrong (see also)—have congratulated the two on their nominations and shown their enthusiasm to begin building in a friendly environment. Commissioner Pierce expressed her “delight[]” to work with Atkins again “to advance free markets, capital formation, investor choice, and innovation.”

It is currently unknown how Atkins’ nomination will change the enforcement priorities of the SEC for 2025. As attorneys operating exclusively in the digital asset space, we are optimistic about the regulatory environment taking shape under the leadership of Paul Atkins and David Sacks.

 With Atkins’ commitment to regulatory clarity and free markets and Sacks’ entrepreneurial vision for crypto and AI, this duo has the potential to return the United States to its position as a leader in financial innovation.

@ Newshounds News™

Source:  Bitcoin News

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MilitiaMan & Crew-Iraq Dinar News-CBI Eliminate Black Market-Investment Climate Strong-Basra Meeting Ambassadors

MilitiaMan & Crew-Iraq Dinar News-CBI Eliminate Black Market-Investment Climate Strong-Basra Meeting Ambassadors

12-14-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=bGy6LgsJ_vk

BRICS Vows to Leave IMF and Western Financial System

BRICS Vows to Leave IMF and Western Financial System

Fastepo:  12-14-2024

The global financial landscape is undergoing seismic shifts as BRICS nations—Brazil, Russia, India, China, and South Africa—declare their intention to distance themselves from the International Monetary Fund (IMF) and the broader Western financial system dominated by the United States.

This pivotal moment poses critical questions about the future of the US dollar, global economic governance, and international trade relationships.

Formed as a coalition of emerging economies, BRICS has historically sought to promote alternative models of development that reject Western hegemony. Over the years, these nations have expanded their influence in global affairs, presenting themselves as a counterbalance to the West.

The recent call to exit the IMF and dismantle reliance on Western financial institutions signals a significant escalation in this long-standing challenge.

The dollar has long been the world’s primary reserve currency, underpinning international trade and finance. However, as BRICS members seek to develop their own currency mechanisms, the dominance of the dollar could be at risk. Prior initiatives promoted by BRICS to encourage trade in local currencies may gain traction, leading to a shift in global financial practices.

The BRICS’ vow to exit the IMF and the Western financial system marks an important chapter in the ongoing saga of global economic governance.

As these emerging powers push for a new economic order that elevates their interests, they raise fundamental questions about the future of the US dollar and the structure of global finance. While the path ahead is fraught with challenges, the intention alone signals a shift that could have far-reaching implications for the balance of power in the 21st century.

As countries navigate this complex terrain, observers will undoubtedly watch closely to see how these aspirations transform into reality, and what it means for the global economy at large.

Watch the video below for more information.

https://youtu.be/AkpulL-meag

Seeds of Wisdom RV and Economic Updates Sunday Morning 12-15-24

Good Morning Dinar Recaps,

Why Hong Kong has grown into a crypto hub — CEO of WOW Summit

"Hong Kong’s ‘one country, two systems’ framework lets it explore digital asset innovation more freely," Ivan Ivanov told Cointelegraph.

Hong Kong has rapidly become a cryptocurrency hub, positioning itself as a center for financial innovation alongside the United Arab Emirates (UAE) and Singapore. Ivan Ivanov, global CEO of WOW Summit, said this innovation was fostered by a mixture of strong regulatory policy and Hong Kong’s status as a special economic region.

Ivanov told Cointelegraph that Hong Kong’s special relationship with mainland China and robust regulation allow Hong Kong to be a sandbox for financial and technical innovation, which benefits startups, nascent technologies, and institutional investors. Ivanov wrote:

"You get the excitement and potential of crypto, but with the stability and security of a well-established financial system. With Hong Kong's strong connections to the global market, especially Mainland China, it's a really unique and promising place for crypto."

The WOW Summit CEO added that Hong Kong’s stablecoin policy, which requires issuers of stablecoins to acquire licenses and keep their fiat reserves in local Hong Kong banks, promotes trust and transparency in the nascent asset sector.

Hong Kong’s recent crypto developments
Hong Kong’s robust regulatory regime creates an attractive climate for investors who want to experience the upside of cutting-edge technology in finance without fear of losing funds in risky ventures with no legal recourse.

In October 2024, The Hong Kong Financial Services and Treasury Bureau (FSTB) laid out ground rules for AI in finance to mitigate the risks of AI while still fostering integration into existing systems.

The Hong Kong Monetary Authority (HKMA) also announced Project Ensemble in October 2024. The initiative between the HKMA, the Central Bank of Brazil, and the Bank of Thailand explored cross-border tokenized settlements between the three countries.

Hong Kong’s Cyberport Web3 network — a state-run business hub promoting digital asset innovation — now features over 270 blockchain firms. The Cyberport network added more than 120 firms in the past 17 months alone.

In November 2024, ZA Bank, Hong Kong’s largest digital bank, launched retail crypto trading for its clients. The government of Hong Kong also proposed exempting institutional investors from capital gains on their crypto holdings to encourage investment. https://cointelegraph.com/news/why-hong-kong-become-crypto-hub-ceo-wow-summit

@ Newshounds News™

Source:  CoinTelegraph

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BRICS: Trump Tariff Threat Has China Eyeing Key Move to Ditch US Dollar

Amid growing tension between the BRICS economic alliance and the US, Donald Trump’s impending tariff threat has China considering what would be a major move to ditch the US dollar. Shortly after his victory, the United States President-elect warned he would impose 100% tariffs on countries looking to abandon the greenback.

The move is looked at as a key defense from Trump to protect the global status of the currency. However, the BRICS alliance has not been shy about its goal to diversify global finance. Specifically, it has been seeking to promote local currencies over the dollar for much of the last two years.

China Presents Answer to Trump Tariff Threat; It’s Bad News for the US Dollar

Since 2022, the BRICS bloc has firmly embraced de-dollarization efforts. After Western sanctions were imposed on Russia following its invasion of Ukraine, the alliance sought new ways to lessen its reliance on the currency. Since then, talks of trade settlement assets and payment systems have abounded.

Yet the United States, with a new regime impending, has sought to put an end to that. But that hasn’t stopped the bloc from defending itself. Indeed, amid the BRICS and US face-off, Donald Trump’s 100% tariff threat has been answered, with China eyeing a key move to ditch the US dollar.

A new report has called for China to anchor the yuan to non-US dollar currencies. Specifically, a Beijing-based think tank urged policymakers to explore a basket of currencies for the exchange rate of the yuan. The move would create more flexibility in terms of domestic monetary policy and would seek a boost in demand.

The China Finance 40 Forum group that proposed the idea is comprised of senior Chinese regulator officials and finance experts. Moreover, it was devised as a clear answer to the ongoing worry Donald Trump presents.

“Given the stronger dollar and tariff threats posed by Donald Trump’s re-election, intensified external uncertainties could limit the space for domestic monetary policies aimed at maintaining internal and external balance,” the group said. Therefore, finding a new anchor for the currency would “counter the pressures.”

@ Newshounds News™

Source:  Watcher Guru

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Source:  Seeds of Wisdom Team RV Currency Facts

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Newshound's Podcast Link

Newshound's News Telegram Room Link

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Follow the Timeline 

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“Tidbits From TNT” Sunday Morning 12-15-2024

TNT:

Tishwash:  The Central Bank and the Securities Commission sign a joint memorandum of understanding to enhance cooperation

The Securities Commission announced today, Sunday, the signing of a joint memorandum of understanding with the Central Bank to enhance cooperation.

The Deputy Chairman of the Securities Commission, Nagham Hussein Ismail, said: “Based on the joint cooperation between government institutions, and in view of the desire of the Securities Commission and the Central Bank of Iraq to create a joint cooperative framework for both parties that contributes to achieving the goals of sustainable development in the banking sector, a memorandum of understanding was signed between the two parties.”

She added, "The signing of the agreement came to enhance cooperation between the two parties in the field of information related to shareholders, and to benefit from the electronic window of the shareholders' system approved by the Iraq Stock Exchange." link

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Tishwash:  To discuss the budget and salaries of Kurdistan.. A delegation from the regional government arrives in Baghdad

A high-level delegation from the Kurdistan Regional Government arrived this morning, Sunday.KurdistantoCapital BaghdadTo discuss a number of files, most notably the budget and salaries of the region’s employees.

The spokesman wasMinistry of FinanceThe Minister of Economy in the Kurdistan Regional Government, Honar Jamal, confirmed yesterday, Saturday, that the Minister of Finance and Economy in the Regional Government, Awat Sheikh Janab, will head the government delegation.

He explained that "the delegation will meet with the Federal Minister of Finance, Taif Sami, to discuss the issue of salaries of the region's employees for the months of October, November and December of 2024, in addition to discussing amending the federal budget and the region's share in the 2025 budget." link

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Tishwash:  Parliamentary Finance Committee reveals the impact of the delay in 2025 schedules on salaries and projects

The Parliamentary Finance Committee revealed, today, Sunday, the extent of the impact of the delay in the 2025 budget schedules on projects and salaries for the next year.

Committee member Mustafa Al-Karawi said, “The budget is a three-year budget, so its texts are ongoing, except for the tables, which are revised and amended according to the actual spending and expenditure,” noting that “the projects that operate in arms and are ongoing will continue their work.”

He explained that "the current ongoing projects will remain, and salaries will continue for next year, even if the approval of the 2025 schedules is delayed," adding that "the new inclusion of new projects will be suspended until the schedules are approved, because a new project cannot be included, and spending will continue on the 2024 schedules, until the new schedules are approved, and then new projects can be included."

Expectations indicate that the 2025 schedules will be delayed for a long time, because the parliament’s legislative recess will not end until January 9th of next year, 2025.

The schedules will also remain suspended until the completion of amending the budget law, specifically paragraph 12 related to the Kurdistan region, which faces severe disagreements, which will lead to obstructing the amendment of the budget or approving the schedules.  link

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Due to power outage, the dollar market and banks close their doors in Sulaymaniyah

 A local source confirmed, today, Sunday (December 15, 2024), that the "dollar market" and banks in Sulaymaniyah Governorate closed their doors due to a power outage.

The source said in an interview with " Baghdad Today " that "the buying and selling operations and money trading in the dollar market have almost completely stopped and the market in Sulaymaniyah has been closed, and the banks have also been closed due to the power outage."

National electricity has been cut off throughout Sulaymaniyah since this morning.

The Director General of Sulaymaniyah Electricity, Anwar Hama Saeed, said in a press statement followed by " Baghdad Today" that "electricity has been cut off in all parts of Sulaymaniyah since four o'clock in the morning today."

The concerned authorities have not yet announced the reasons for the power outage.  link

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Mot: ..... what happened????  Yule tide detergent

Mot: ... word to the Wise don’t give vacuum cleaners for Christmas

“News and Views” posted by Frank26 and Clare at KTFA

KTFA:

Frank26”  "AGAIN GOALS OF THE MONETARY REFORM SECURITY & STABILITY"......F26

 Opening of a dollar exchange outlet at Kirkuk International Airport

 12/12/2024  Kirkuk/

The Executive Director of Kirkuk International Airport, Abdul Samad Al-Kubaisi, opened an outlet to sell foreign currency (dollars) to travelers at the airport, at the official rate of 132 thousand dinars per 100 dollars.

Al-Kubaisi stressed: "The step of opening a new outlet at the airport will have positive effects, especially since it takes a short time for the traveler to get his need for dollars," noting: "The work of exchange companies at the airport will be monitored by the Central Bank of Iraq."   LINK

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Frank26:  "BECAUSE OF A NEW EXCHANGE RATE, NOT BECAUSE OF A PROGRAM RATE".........F26

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 Financial Sector of the Corporation in the region, Mr. Yousef Habash, and Mr. Bilal Al-Zughair, 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 Corporation, and the development of Islamic banks operating in Iraq, in addition to the banking reforms carried out by the Bank in cooperation with the relevant authorities, especially the restructuring of government banks, and the role of international companies operating in this field (Ernst & Young and Oliver Wyman).

His Excellency the Governor discussed the proposal to establish a leasing 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 machinery and industrial equipment, vehicles, offices, and warehouses. This proposal supports emerging projects and small and medium-sized companies looking for easy and flexible financing.

The meeting discussed the importance of launching Riyada Bank next year, which will support projects with small and medium-sized loans, in line with the government’s vision to support graduates and entrepreneurs and develop labor markets.

Central Bank of Iraq
Media Office
December 11, 2024

https://cbi.iq/news/view/2733

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Clare: Ministry of Transport announces that the completion rate of the development road project designs has increased to 63 percent

12/14/2024  Baghdad - WAA

The Ministry of Transport announced, today, Saturday, the completion rates of the strategic development road project, which is scheduled to open in 2029.

The Ministry's media office said in a statement received by the Iraqi News Agency (INA), "Accurate topographic survey operations have begun, extending from Al-Faw to the southeast of the Najaf Ashraf station, where an accurate topographic survey was conducted for the areas associated with passenger stations, container stations, storage stations, and ferries, including streams and rivers," noting that "the topographic survey is carried out using aerial photographs and surveying devices connected to satellites to ensure high accuracy."

He added that "the area ranges from 5 mm to 10 mm, and the survey includes all details related to the site to ensure proper planning for each part of the project, and that the topographic survey operations are scheduled to be completed to the Turkish border within the established timetables."

The media office confirmed that "the completion rates for the detailed designs phase of the railway line reached 64% and the land route 60%, while the cumulative completion rates for the detailed designs of the project reached 63%."
 
The statement indicated that "the development road, according to the designs, is at a distance that allows opportunities to connect the governorates to the project stations and benefit from both sides of the road, and the passage between the railway and land lines, while the Faw Port, which will be operated in 2025, will be used as a first phase, as it is an economic marine station for the project in addition to the presence of the industrial city, which will be the largest in the Middle East."

It indicated that "the Minister of Transport, Razzaq Muhaibis Al-Saadawi, directed the need to follow up on the work of the development road project, the first phase, which is known as the rehabilitation and re-operation phase of the current railway lines and preparing them to work in conjunction with the operation of the Grand Faw Port in 2025, and that the Italian company BTP provides consulting services regarding the first phase of the development road project (specific to rehabilitating the current railways), to be a strategic line ready for the safe transport of incoming cargo via railway lines, from the Grand Faw Port, which the ministry intends to operate in its first phase during the coming year."

It is noteworthy that the Ministry of Transport has developed integrated strategic plans for the transport sector with the development road project by land, rail, sea and air by linking airports to the development road project and benefiting from them by achieving integration that includes a number of operating and effective airports for the governorates located on the project, such as Basra Airport, Najaf Airport and Baghdad Airport, in addition to other airports that will be completed and opened in 2025, which are the airports of (Nasiriyah, Karbala, Mosul).   LINK

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Clare:  Blinken: I was amazed when I arrived in Baghdad by the construction in Iraq and the vitality of the capital

12/14/2024  Baghdad - WAA 

US Secretary of State Anthony Blinken expressed his astonishment today, Saturday, after his recent visit to Baghdad, at the construction in Iraq and the vitality in the capital, while indicating that the Iraqi people deserve this development.

"I was amazed when I arrived in Baghdad by the construction and vitality of the capital," Blinken said in a speech to reporters after leaving Baghdad, as followed by the Iraqi News Agency (INA), indicating that "important work has been accomplished to ensure that Iraqis receive the necessary services to build a better life."

He pointed out that "it is impressive that these changes are happening, and the Iraqi people deserve this development."

Yesterday evening, Prime Minister Mohammed Shia received US Secretary of State Anthony Blinken and discussed with him bilateral relations between the two countries, ways to enhance joint cooperation, as well as discussing the situation in the region, developments in the current events in Syria, and the regional and international efforts required to enhance security in Syria and the stability of the entire region.   LINK

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Clare:  Al-Sudani: There are suspicions of corruption in all loan transactions in Iraq

12/14/2024

Prime Minister Mohammed Shia al-Sudani acknowledged, on Saturday, that there were suspicions of corruption in financial loan transactions issued by Iraqi government banks.

In a speech he gave during the opening ceremony of the first Riyada Initiative Conference and Exhibition in the capital, Baghdad, Al-Sudani praised the role of banks in the process of lending to the youth participants in that initiative, adding that “let us admit that there are suspicions of corruption in all loan transactions, which we have reached in our previous experiences.”

He added, "We are facing a new reality and a new era for Iraq in which all its capabilities and natural resources that were not properly invested are invested, and these small projects will be the nucleus for other medium and large projects," noting that "most advanced industrial countries started with small projects and ended with large companies that sponsor a full spectrum of small companies."

Al-Sudani continued by saying: We are working on developing various sectors, and in partnership with foreign companies, the local product must be present, noting that “parts of the automobile industry can be manufactured in local workshops, and government banks will be present in supporting (Riyada) initiatives.”

The Prime Minister concluded his speech by saying: We have an integrated vision that starts with the youth to cover the needs of the local market for goods.   LINK

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Clare:  Iraq on the map of change" .. Expert: Expected international decisions will be taken before Trump's arrival

12/13/2024  Baghdad

Political affairs researcher Muhammad Ali Al-Hakim commented on Friday (December 13, 2024) on the call of the United Nations representative in Iraq to take new decisions that serve the current situation to avoid crises in Iraq.

Al-Hakim said in an interview with "Baghdad Today" that "the call of the UN representative after meeting the religious authority in Najaf to take new decisions that serve the situation in Iraq to avoid crises carries a clear message that Iraq is heading towards changes," noting that "there are important decisions that will be taken in the near future related to the changes taking place in the region, especially with Trump's imminent assumption of the presidency in the United States of America."

He added, "The unannounced visit of the US Secretary of State is to complete the upcoming changes in Iraq. There is international and UN movement towards Iraq, and for this reason the new phase will witness major changes on the internal level, as Iraq is part of the change in the map of the new Middle East."

Yesterday, Mohammad Redha, son of the supreme religious authority, Ali al-Sistani, received the representative of the Secretary-General of the United Nations, Mohammad al-Hassan, and his accompanying delegation, to discuss ways for Iraq to avoid any conflicts that would harm it.

This comes as US Secretary of State Anthony Blinken made a secret visit to Baghdad, where he met with Prime Minister Mohammed Shia al-Sudani, to discuss the situation in the region and developments in Syria, stressing the commitment of the members of the international coalition to the security, sovereignty and stability of Iraq.  LINK

Iraq Economic News and Points to Ponder Saturday Afternoon 12-14-24

Blinken: The Work And Change Taking Place In Baghdad Is Surprising And Admirable

Saturday 14 December 2024 10:41 | Politics Number of readings: 254  Baghdad / NINA / US Secretary of State Antony Blinken expressed his astonishment and admiration for the work and change taking place in Baghdad.

Blinken said in a speech to reporters after leaving Baghdad: "There is important work that has been done to ensure that Iraqis receive the necessary services to build a better life."

He added: "I expressed my astonishment to Prime Minister Mohammed Shia al-Sudani when I arrived in Baghdad, with the construction and vitality of the capital, and there is important work that has been done to ensure that Iraqis receive the necessary services to build a better life."

He continued: "It is impressive that these changes are taking place," stressing: "The Iraqi people deserve this development." / End9  https://ninanews.com/Website/News/Details?Key=1174545

Gold Ends Two-Week Losing Streak

Money and business   Economy News - Follow-up  Gold prices posted a weekly rise, ending a two-week losing streak.

This came after investors raised their expectations this week that the US Federal Reserve would cut interest rates at its meeting next week.

Gold futures for February 2025 delivery were up 0.6 percent on the week, despite falling 1.25 percent, or $33.6, to $2,675.8 an ounce on Friday.

The dollar index, which measures the performance of the US currency against a basket of 6 major currencies, settled at 106.98 points.

Profit-taking weighs on gold prices

Markets are pricing in a 97.5 percent chance the Fed will cut rates by 25 basis points at its meeting starting next Tuesday, according to the FedWatch tool, up from 86 percent last week.

Goldman Sachs had expected gold prices to rise to $3,000 per ounce by the end of 2025.

The bank said in a note that the rise in gold will occur even if the value of the US dollar continues to rise.

Goldman Sachs analysts said on Wednesday that markets could see increases in both gold prices and the value of the dollar in 2025, due to lower interest rates and increased uncertainty.73 views - https://economy-news.net/content.php?id=50854

Gold Heads For Weekly Gain Of Over 2%

Money and business  Economy News - Follow-up  Gold prices are heading for weekly gains, and were slightly higher in early Friday trading, supported by reports that China, the largest gold consumer, has resumed its purchases and growing expectations that the Federal Reserve will cut interest rates at its meeting on Dec. 17-18.

Update prices

Spot gold rose 0.3 percent to $2,688.29 per ounce by 0320 GMT, and was on track for a weekly gain of more than 2 percent.

US gold futures settled at $2,711.30.

Traders are now focused on the Fed's interest rate decision, with the CME FedWatch tool pricing in a 96.4 percent chance of a 25 basis point rate cut.

Gold prices fell more than 1 percent on Thursday amid profit-taking after the metal briefly hit a five-week high earlier in the session.

U.S. producer prices rose more than expected in November, amid higher food costs. Data released Wednesday showed consumer prices rose by the most in seven months in November, boosting bets on interest rate cuts.

The European Central Bank cut interest rates for the fourth time this year and the Swiss National Bank cut rates by 50 basis points, its biggest cut in nearly a decade, on Thursday.

Gold prices usually rise in a low interest rate environment.

As for other precious metals, silver settled at $30.94 per ounce, according to Reuters data.

Platinum rose 0.4 percent to $933.65. Palladium fell 0.1 percent to $969.09. Both metals were on track for weekly gains.  98 views  Added 12/13/2024 - https://economy-news.net/content.php?id=50824

Dollar Closes Higher Against Dinar In Baghdad And Erbil At The Beginning Of The Week

12/14/2024  Mawazine News – Economy  The dollar prices rose in the markets of Baghdad and Erbil, the capital of the Kurdistan Region, on Saturday with the closing of the stock exchange.

The dollar prices also rose with the closing of the Al-Kifah and Al-Harithiya stock exchanges to record 151,000 dinars for every 100 dollars, while this morning it recorded 150,650 dinars for every 100 dollars.

Selling prices rose in exchange shops in the local markets in Baghdad, where the selling price reached 152,000 Iraqi dinars for every 100 dollars, while the purchase price reached 150,000 dinars for every 100 dollars.

In Erbil, the dollar also recorded a rise, where the selling price reached 150,450 dinars for every 100 dollars, and the purchase price was 150,250 dinars for every 100 US dollars. https://www.mawazin.net/Details.aspx?jimare=257458

Oil Rises 2% To Highest Level In 3 Weeks

Energy   Economy News - Follow-up  Oil prices jumped about 2 percent to settle at a three-week high on Friday, supported by expectations that additional sanctions on Russia and Iran will limit supplies and that interest rate cuts in Europe and the United States will boost fuel demand.

Brent crude futures rose $1.08, or 1.5%, to settle at $74.49 a barrel, while U.S. West Texas Intermediate crude futures rose $1.27, or 1.8%, to $71.29.

Today’s settlement was the highest for Brent crude since November 22, up 5% on the week. West Texas Intermediate crude gained 6% on the week and hit its highest since November 7.

"What drove the rally were... expectations of tighter sanctions on Russia and Iran, more supportive Chinese economic guidance, political unrest in the Middle East and speculation of a US rate cut next week," analysts at consultancy Ritter Busch & Associates said in a note.

The European Union agreed to impose a 15th package of sanctions on Russia this week over its war in Ukraine, targeting Russia's shadow fleet of tankers, and the United States is considering similar moves.

Britain, France and Germany told the UN Security Council that they were prepared, if necessary, to work to reimpose all international sanctions on Iran to prevent it from obtaining nuclear weapons.

Chinese data this week showed crude imports into the world’s biggest importer grew at an annual rate in November for the first time in seven months. China’s crude imports are expected to remain high until early 2025 as refiners lean toward increasing supplies from top exporter Saudi Arabia due to low prices and independent refiners rush to fill their quotas.

The International Energy Agency raised its forecast for demand growth to 1.1 million barrels per day in its monthly oil market report, from 990,000 barrels per day last month, citing stimulus measures in China.

The agency expects an oil supply surplus next year as non-OPEC+ countries are set to boost supplies by around 1.5 million barrels per day, led by Argentina, Brazil, Canada, Guyana and the United States.

The OPEC+ group includes OPEC member states and allies such as Russia.

Bloomberg reported that the OPEC member UAE intends to reduce oil shipments early next year as OPEC+ seeks stronger discipline in meeting production targets.

The price of Iranian crude to China has risen to its highest in years as U.S. sanctions limit shipping capacity and raise logistics costs. The incoming administration of U.S. President-elect Donald Trump is expected to ramp up pressure on Iran.

98 views  Added 12/14/2024 - https://economy-news.net/content.php?id=50847

Al-Sudani Confirms That Modernizing Company Registration Work Is At The Heart Of Economic Reform Efforts, Combating Corruption And Improving The Business Environment

Political | 12/14/2024  Mawazine News – Baghdad  Prime Minister Mohammed Shia Al-Sudani inaugurated today, Saturday, the new building of the Companies Registration Department, affiliated with the Ministry of Trade in the capital, Baghdad, and toured the building, during which he was briefed on the departments of the department and its work mechanisms.

Al-Sudani stressed the government's continuation of its special program to modernize the work of institutions and departments, and make them keep pace with technological developments and modern management systems, in a way that enhances the efficiency of administrative work. The

Prime Minister explained that developing the Companies Registration Department and modernizing its work mechanisms comes within the steps of administrative and economic reform, and at the heart of efforts to improve the business environment and achieve the goal of simplifying procedures to provide an attractive environment for investment, in addition to its important impact in combating corruption. https://www.mawazin.net/Details.aspx?jimare=257442

Al-Awadi: US Secretary of State praised the government's role in calming the region

Friday 13 December 2024 | Politics Number of readings: 110  Baghdad / NINA / Government spokesman Bassem Al-Awadi confirmed that the US Secretary of State praised the government's role in calming the region. / End 8    https://ninanews.com/Website/News/Details?Key=1174474

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 12-14-24

Good Afternoon Dinar Recaps,

US SENATOR: NEW TREASURY SECRETARY WILL CHAMPION DIGITAL ASSETS

A senator hails Scott Bessent as a champion for digital assets, backing his Treasury Secretary nomination to advance a Strategic Bitcoin Reserve and reshape U.S. fiscal policy.

The Pro-Crypto Leader Poised to Shape US Fiscal Policy

U.S. Senator Cynthia Lummis (R-WY) has voiced firm backing for President-elect Donald Trump’s selection of hedge fund manager Scott Bessent as the next Treasury Secretary. Last month, Trump nominated Bessent to succeed Janet Yellen as the 79th U.S. Treasury Secretary.

Lummis emphasized that his appointment could bolster her recently proposed legislation advocating for a Strategic Bitcoin Reserve. This initiative, formally known as the BITCOIN Act, was unveiled in July and aims to establish a federal bitcoin reserve to fortify the U.S. dollar and tackle the growing national debt. The senator expressed her enthusiasm on the social media platform X on Friday, stating:

Scott Bessent will be a champion for digital assets and a crucial ally in passing my Strategic Bitcoin Reserve.

“I look forward to working closely with the future Treasury Secretary to restore fiscal responsibility!” she added.

The concept of a U.S. strategic bitcoin reserve has gained traction recently, with several states initiating legislative efforts to establish such reserves. Notably, Texas introduced House Bill 1598, aiming to create a strategic bitcoin reserve funded through donations and gifts, allowing residents to pay taxes in bitcoin.

Similarly, Pennsylvania proposed legislation permitting its treasury to allocate up to 10% of state funds into bitcoin. At the federal level, Trump has advocated for a national bitcoin reserve, a proposal that has sparked debate among experts regarding its feasibility and potential economic impact.

These developments reflect a growing interest in integrating bitcoin into governmental financial strategies across the U.S.

Supporters of the decision have praised Bessent’s openness to cryptocurrency innovation. Ripple CEO Brad Garlinghouse, for instance, commented on X: “I don’t want to get too far ahead of myself but… Scott Bessent is the perfect pick by Donald Trump. He will be the most pro-innovation, pro-crypto Treasury Sec we’ve ever seen.”

Bessent, who founded Key Square Capital Management and previously served as chief investment officer for George Soros, has gained recognition for his macroeconomic acumen. Known for advocating deficit reduction and regulatory reform, his nomination has been met with optimism by financial markets and business leaders. Many anticipate his leadership could foster policies favorable to cryptocurrency, potentially advancing proposals such as Lummis’s bitcoin reserve plan.

@ Newshounds News™
Source:  Bitcoin News

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BANK OF ENGLAND GIVES CRYPTO FIRMS TILL MARCH 2025 TO DISCLOSE DIGITAL ASSET EXPOSURE

England’s central bank is giving companies until March 2025 to disclose their exposure to digital assets.

In a new announcement, The Bank of England says that the Prudential Regulation Authority (PRA) – the UK’s financial regulator – is looking to gather data on firms’ current and future exposure to crypto assets.

“This [data] will inform work across the PRA and the Bank of England on crypto assets by helping us calibrate our prudential treatment of crypto asset exposures, analyze the relative costs and benefits of different policy options and providing an updated view of firms’ current and intended crypto asset-related business activities as a base from which to monitor the financial stability implications of these assets.”

Some of the disclosure requirements include any business related to digital assets and how the bank profits from it, risk management policies of the bank toward crypto, a rundown of how the bank reports its crypto assets, and the most significant crypto-related risks the firms are exposed to and how they plan to manage them, according to the PRA’s questionnaire.

“The decision to hold crypto assets (either under trading or banking book) and provide services to crypto asset operators must be fully consistent with the bank’s risk appetite and strategic objectives as set down and approved by the board, as well as with senior management’s assessment of the bank’s risk management capabilities.”

According to the PRA’s second framework for crypto assets, which was released in 2022, firms still cannot completely mitigate the risks of using permissionless blockchains.

@ Newshounds News™

Source:  DailyHodl

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DISCOVER THE BRICS AI ALLIANCE REVOLUTIONIZING GLOBAL TECH IN 2024  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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US Dollar will Look Like Pump and Dump Stock

US Dollar will Look Like Pump and Dump Stock

David Lin:  12-13-2024

In recent discussions around the health and future of the U.S. dollar, Morgan Lekstrom, President and Director of NexGold Mining Corp., shared a striking perspective, suggesting that the dollar could resemble a “pump and dump” stock.

This metaphor implies a volatile and deceptive cycle wherein the value of the dollar is artificially inflated only to be discarded quickly, leaving investors vulnerable to significant losses.

The context of Lekstrom’s remarks stem from the increasing concerns over inflation, geopolitical instability, and a shifting global financial landscape that has many investors seeking safety in tangible assets like gold. As the U.S. grapples with economic uncertainties, the question looms large: is the faith in the dollar waning?

The U.S. dollar has long been considered the world’s reserve currency, dominant in international trade and finance. However, its status is under scrutiny as countries around the globe explore alternatives. The vast debt levels in the U.S., increasing inflation rates, and fears of a recession are causing some analysts to rethink the dollar’s reliability.

As Lekstrom pointed out, this environment creates the potential for a “pump and dump” scenario, where the dollar’s apparent strength could be short-lived and misleading.

At the same time, a noteworthy phenomenon is unfolding: a global “gold arms race.” Nations are ramping up gold purchases as a means to diversify their reserves and hedge against inflation and currency fluctuations. Central banks and large investors are acquiring gold at an unprecedented pace, signaling a movement towards more tangible forms of wealth preservation. This trend reflects a growing distrust in fiat currencies like the dollar, as countries seek to safeguard their financial systems from the perceived volatility linked with reliance on a single currency.

China and Russia are two of the most notable players in this gold rush. Both countries have significantly increased their gold reserves in recent years, partly in response to mounting tensions with the U.S. and its allies. This shift illustrates a broader strategy of reducing dependency on the dollar and strengthening their financial independence.

The implications of a potential decline in the dollar’s value are profound. If the dollar continues to weaken, it could lead to heightened inflation within the U.S., as the cost of imports rises.

 Additionally, a diminished dollar could trigger a reassessment of global trade relationships and the balance of economic power, facilitating a shift towards a multi-polar currency system.

Furthermore, the transition to alternative currencies, or the adoption of a gold-backed standard by some nations, could complicate the dollar’s dominance in international markets. In this new ecosystem, equities in gold will likely gain favor—shifting investment strategies and prompting increased interest in mining companies like NexGold Mining Corp., which stands to benefit from a burgeoning demand for gold.

The forecast for the U.S. dollar, as articulated by Morgan Lekstrom, illustrates a precarious chapter for American currency. With growing evidence of a global “gold arms race,” investors and policymakers alike must navigate a complex new financial landscape where the sustainability of the dollar is increasingly in question.

 As nations fortify their gold reserves, the strategies that were once heavily reliant on the dollar may need to be reevaluated, signaling a potential end to an era of dollar supremacy.

In this evolving scenario, the prudent investor may find that reallocating resources towards gold and mining firms could serve as a safeguard against the impending volatility of a dollar that many are now beginning to view with reservation.

As history has shown, those who adapt to change can often thrive, even amidst uncertainty.

https://youtu.be/_Ja1A276T4M

Seeds of Wisdom RV and Economic Updates Saturday Morning 12-14-24

Good Morning Dinar Recaps,

BRICS NEWS: CALLS TO MOVE AWAY FROM THE US DOLLAR IS GROWING

A handful of developing countries are inspired by the BRICS alliance to ditch the US dollar for cross-border transactions. Emerging economies are taking cues from the bloc to de-dollarize their economies and make local currencies the sole beneficiary for payments. The calls to cut ties with the US dollar are growing and the White House is unable to clamp it down.

BRICS members China, Russia, and Iran are advancing the de-dollarization initiative by pushing local currencies ahead for trade. The move is adding pressure on the greenback’s prospects as it could lose out on the demand and supply dynamics. They are also diversifying their central bank reserves by adding gold and other currencies and commodities.

 
BRICS Advancing To End US Dollar’s Supremacy

The central banks of BRICS and other developing countries are diversifying their reserves giving the US dollar a run for their money. “By diversifying their holdings reserves into a more multi-currency sort of portfolio. Perhaps they can reduce that pressure on their external sectors,” said Cedric Chehab from Fitch Solutions to CNBC.

As BRICS member China’s influence is growing, it is also setting the stage for the de-dollarization agenda to grow rapidly. “As China’s economic might continues to rise, that means that it’ll exert more influence in global financial institutions and trade,” he said. Another benefit for countries moving away from the US dollar as the middleman in bilateral trade

BRICS countries could benefit if they trade in local currencies as it’ll help them move up the value chain. Trading in local currencies “allows exporters and importers to balance risks, have more options to invest, to have more certainty about the revenues and sales,” said former Brazilian ambassador to China, Marcos Caramuru.

@ Newshounds News™

Source:  Watcher Guru

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JAPAN’S LAWMAKER PROPOSES NATIONAL BITCOIN RESERVE

▪️Japanese lawmaker proposes a national Bitcoin reserve.

▪️States can effortlessly create reserves for Bitcoin.

▪️MicroStrategy holds a significant portion of the BTC supply.

Name similarity becomes intriguing in this development. Recently, a Japanese lawmaker presented a new proposal. As you may recall, several months ago, statements emerged from the Trump camp, led by Lummis, advocating for the U.S. government to establish a Bitcoin reserve. This proposal even evolved into a legislative bill.

Satoshi and the Bitcoin Reserve Idea

Trump appointed someone to organize cryptocurrency efforts at the White House before taking office in January. This individual will also work to realize the Bitcoin reserve concept. Today, Japanese parliament member Satoshi Hamada has taken steps to create a national Bitcoin reserve.

Satoshi Hamada, sharing a name with Satoshi Nakamoto, believes that his country should establish its strategic Bitcoin reserve before the U.S. implements this idea. Recently, Russian President Putin mentioned that Bitcoin would not be obstructed.

National Bitcoin Reserve

States can easily create reserves for Bitcoin and other cryptocurrencies with minimal effort. The fact that even Federal Reserve members, including the President, view Bitcoin as an “asset competing with gold” explains our current situation well. Governments already possess vast gold reserves and can similarly create reserves for Bitcoin, often referred to as “digital gold.”

MicroStrategy, MARA, RIOT, BlackRock, and thousands of companies have begun to hold BTC in their reserves. The world’s largest asset manager, BlackRock, has thousands of ETF customers indirectly holding BTC through its IBIT BTC ETF product.

Every week, we read news about institutions purchasing billions of dollars in BTC. Many companies are adding Bitcoin to their reserves to improve stock performance and increase share prices, with MicroStrategy being the most advanced player in this regard. It has grown significantly, with a strong likelihood of being added to the NASDAQ100 in March.

MSTR alone holds approximately 2% of the BTC supply. The total BTC held by ETF issuers, governments, private and public companies, BTC miners, and DeFi platforms is valued at $292 billion, representing 13.81% of the BTC supply.

@ Newshounds News™

Source:  Coin-Turk

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CONSTITUTION CALL AUDIO 12 13 2024  |  Youtube

Did you miss the call last night?  You can listen to the call at our Youtube Channel at the link above.

Ask questions in The Constitution Intel history and more Room Link

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Source:  Seeds of Wisdom Team RV Currency Facts

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“Tidbits From TNT” Saturday Morning 12-14-2024

TNT:

Tishwash:  Central Bank Governor: Opening external channels with foreign currencies eliminates the black market

Central Bank Governor Ali Al-Alaq confirmed on Thursday that opening channels in foreign and Arab currencies achieves stability in the exchange rate and gradually eliminates the black market.

The media advisor of the Trade Bank of Iraq (TBI), Aqeel Al-Shuwaili, said in a statement, which was reviewed by "Al-Eqtisad News", that "the governor of the Central Bank visited the Trade Bank of Iraq and appreciated the bank's efforts to expand its customer base of importing merchants and the procedures to facilitate their transactions in a way that contributes to achieving stability in the exchange market."

According to the statement, the governor of the Central Bank stressed "the need to make efforts to achieve fluidity and provide the best banking services to the bank's customers."

The governor pointed out that "the Central Bank's continued opening of multiple external channels in foreign and Arab currencies achieves continuous stability in the exchange rate and gradually eliminates the black market link

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Tishwash:  An "unannounced" visit and a surprise landing in Baghdad.. Blinken to Al-Sudani: We are committed to supporting Iraq

US Secretary of State Antony Blinken made an unannounced visit to Iraq on Friday, during which he met with Prime Minister Mohammed Shia al-Sudani and held talks with him about the future of Syria.

According to Reuters, Blinken is

Reuters quoted the US State Department as saying that "Blinken stressed from Baghdad the US commitment to the US-Iraqi strategic partnership and to Iraq's security, stability and sovereignty."

She added that the Secretary also discussed regional security opportunities and challenges, as well as continued U.S. support for engagement with all communities in Syria to create a comprehensive transition.

According to Reuters, Blinken's visit was not announced until after he met with Al-Sudani on Friday afternoon.

Meanwhile, the Iraqi Prime Minister's media office confirmed that Al-Sudani and Blinken discussed bilateral relations between the two countries, ways to enhance joint cooperation, as well as discussing the situation in the region, developments in the current events in Syria, and the regional and international efforts required to enhance security in Syria and the stability of the entire region.

Al-Sudani renewed, according to a statement received by Shafaq News Agency, support for Syria in this important stage, and the importance of friendly countries helping the Syrians rebuild their country and confront the challenges that may affect civil peace in it, stressing the necessity of representing all components of the Syrian people in the administration of the country to ensure enhancing its stability. He also stressed that Iraq is waiting for actions, not words, from those in charge of managing the transitional phase in Syria.

The Iraqi Prime Minister stressed the need not to allow any aggression on Syrian territory, from any party, because this represents a threat to security and stability in the region.

For his part, the US Secretary of State stressed, according to the Iraqi statement, Washington and Baghdad's agreement on the necessity of respecting the choices of the Syrian people, and working to form a comprehensive government that reflects the will of the Syrian people and the diversity of its components.

Blinken referred to the pivotal role of Iraq, and stressed that it represents a key partner in the region, and the importance of consulting with it on the current developments witnessed in the region, and that the members of the international coalition are committed to the security, sovereignty and stability of Iraq  link

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Tishwash:  After the events in Syria... Will Iraq witness a new economic phase?

Iraq is suffering from major economic challenges due to political and military crises in some surrounding countries, but the impact of these crises on the Iraqi economy is still somewhat limited, while observers expect that there will be an expected economic change in Iraq, but it will be within a period of difficult and difficult labor in light of the harsh political crises that are sweeping the new Middle East.

In this regard, economic expert Ahmed Fouad told Iraq Observer that “Iraq enjoys stable financial flows and strong international trade relations,” indicating that “the tensions in Syria, including the recent events and the fall of Bashar al-Assad’s regime, will not fundamentally affect the Iraqi economy, which relies on central economic policies and strong oil revenues.”

He added, "The economic change that will occur in Iraq will be a reflection of the confusing political situation in the region, especially after the recent events in Syria."

Fouad expressed his hope that “there will be a positive economic change that creates an equal and just economic system based on capitalism and a free economy.”

The economic expert called for “the need to work on directing this change in a correct and fair manner that guarantees integrity and success for the Iraqi economy and state. The Iraqi government must also develop an effective emergency plan to ensure the continued supply of basic commodities to the market, such as food and supplies. Despite the concerns that some may raise about importing goods from neighboring countries, Iraq has the ability to compensate for any shortage in materials through other markets such as Turkey, Iran, and the Gulf states.”

He added that "the Iraqi economy is immune to regional tensions, noting that central economic policies and stable oil revenues give Iraq great ability to confront any fluctuations."

Regarding the future of the Iraqi economy if wars continue in the region, the economic expert stressed that “the effects of the current crises on the Iraqi economy remain relative, noting that their impact on the movement of internal and external trade will be limited if the situation is dealt with cautiously and a flexible economic policy is followed. He added that the political crisis in some neighboring countries may give Iraq an opportunity to increase its imports from other countries and open new markets.”  link

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Mot: .......... tip  

Mot: What’s in the tree? 

‘Debasement Trade’: Why Gold Is Surging & Fiat Is Failing, How to Exit the System | Jeremy Cordon

‘Debasement Trade’: Why Gold Is Surging & Fiat Is Failing, How to Exit the System | Jeremy Cordon

Kitco News:  12-13-2024

Gold surged to $2,700 an ounce in 2024, driven by persistent inflation, geopolitical risks, and widespread dollar debasement.

Central banks ramped up gold purchases, and investors sought alternatives to fiat currencies amid global economic uncertainty.

 Jeremy Cordon, CEO of Goldback, explained how this growing distrust in traditional monetary systems has fueled the adoption of spendable gold. Goldbacks, a currency made from real gold in small denominations, have surpassed $200 million in circulation, offering a practical, inflation-proof alternative to cash.

Cordon highlighted how Goldbacks are reshaping the way people use gold, enabling direct transactions without the need to convert back into dollars. With advanced technology to prevent counterfeiting and a growing network of small businesses accepting them, Goldbacks are providing a unique bridge between traditional gold investment and everyday commerce.

As the world moves toward de-dollarization, with institutions and countries diversifying reserves into gold, Cordon discussed the macroeconomic trends that will continue to drive demand for hard assets in 2025 and beyond.

00:00 Introduction

01:22 Public Awareness and Inflation

03:42 Ray Dalio and Geopolitical Trends

04:38 Gold's Long-Term Trend and Saving Strategies

 05:58 Introduction to Goldback

07:20 Goldback's Popularity and Practical Use

25:22 Goldback's Technology and Security

27:21 Customer Feedback and Future Plans

 30:35 Conclusion

https://www.youtube.com/watch?v=hxOlWyV_5jc