Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 12-17-24

Good Afternoon Dinar Recaps,

GOLD PRICE LIKELY SUPPRESSED BY CONCENTRATED SHORTING, COULD EXPLODE

At long last, complaints of gold price manipulation and suppression got some respect this week from the Official Monetary and Financial Institutions Forum, a London-based group connected with central banks.

The group published a long paper heralding gold's restoration to the center of the world financial system, "Gold and the New World Disorder," and the paper's chapter titled "Market Disruption -- The Short Squeeze" has this to say about the topic at hand:

"With record demand for gold, much of it from BRICS-related countries, the risks of a squeeze are increasing. This could have several catalysts.

'Bullion banks' holding concentrated gold short positions might need to buy back the metal during another price run.

Analysts have long argued that these short positions suggest market manipulation, citing the disproportionate control held by a few entities.

Lawsuits against banks for manipulating the precious metals markets have yielded some success in recent years. During these lawsuits, some former 'bullion bank' traders have commented about how these gold market strategies might make the market vulnerable to a short squeeze -- either by accident or design.

Academic and other studies provide evidence that 'shorting gold' has historically been used to suppress the gold price, often linked to central bank sales and futures contracts on commodity exchanges.

There is also room for market disruption from imbalances stemming from allocated and unallocated gold accounts, when market participants own just a claim on gold rather than specific bars.

Recent analysis suggests that the unallocated-to-allocated gold ratio at the London Bullion Market Association could range from 20:1 to even 100:1. For every ounce of physical gold backing these accounts, there might be 20 to 100 ounces of unallocated paper gold claims.

This indicates a fractional-reserve system where future claims may far exceed the physical gold available. Predicting the timing of such a squeeze is speculative, given the size of some of these positions and growing world financial and economic tensions.

However, with suspicions rising that some BRICS countries could be considering 'weaponizing' gold against the West, financial markets could be in for a bumpy ride."

Ya think? The Gold Anti-Trust Action Committee (GATA) has been documenting and screaming about this for 25 years. For example, here and here.

If even these "official" guys now can acknowledge not only that the gold market has been heavily influenced by central banks and their bullion bank agents but also that the world has foolishly been depending on a lot of imaginary metal, the racket may be quickly coming to an end -- no thanks to OMFIF itself, which for years has been ignoring all the incriminating information placed in the public domain by GATA.

@ Newshounds News™

Source:  GoldSeek

RLUSD STABLECOIN GOES LIVE: PRICE FLUCTUATES 20% BEFORE STABILIZING

Ripple USD (RLUSD) is officially live on global exchanges. This enterprise-grade stablecoin combines the stability of fiat with the efficiency of blockchain technology. RLUSD will operate on two networks: Ethereum and Ripple’s native XRP Ledger (XRPL). Initially, the price of the stablecoin fluctuated within a 20% range, but it is pegged to the U.S. dollar at a 1:1 ratio, ensuring stability over time.

Ripple CTO David Schwartz had previously said that there might be supply shortages at first, causing the price to fluctuate. However, once supply stabilizes, the price will quickly return to around $1.

He also said, “Since the idea of $RLUSD many months ago to launch in a matter of hours, I’ve been looking forward to more use cases realized on the XRPL and more liquidity on-chain with a trusted stablecoin like RLUSD. Countless opportunities are here for devs and users who want the benefits of XRPL, RLUSD and XRP.”

The stablecoin will be available on exchanges like Uphold, Bitso, and CoinMana, with more expected by the end of the year. Ripple’s stablecoin is fully compliant and backed by US dollar deposits, government bonds, and cash equivalents. This provides the stability and transparency that many stablecoins have lacked.

RLUSD aims to bridge the gap between traditional fiat and crypto, offering benefits like instant cross-border payments, liquidity for remittance, and seamless integration with DeFi protocols. This is huge for XRP and the broader crypto ecosystem.

Ripple’s stablecoin will be a game-changer. It’s backed by years of experience in the financial system and offers a level of compliance and trust that’s currently unmatched. With major partners and exchanges expected to adopt it, RLUSD has the potential to challenge dominant stablecoins like Tether and USDC.

@ Newshounds News™

Source:  CoinPedia

~~~~~~~~~

CURRENCY REVALUATION UPDATES  WHAT YOU NEED KNOW  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Seeds of Wisdom Team™ Newsletter

 Thank you Dinar Recaps

Iraq Economic News and Points to Ponder Tuesday AM 12-17-24

What Is The Secret Of The Stability Of The Dollar In Iraq Despite The Tension In The Region? A Government Advisor Explains
 
Time: 12/16/2024 22:36:28 Read: 1,248 times  {Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, attributed the stability of the dollar exchange rate against the dinar to the procedures of the Central Bank of Iraq in selling the dollar through the electronic platform and compliance with it.  Saleh told {Al-Furat News} agency:

“There is a reason for the stability of the exchange rate in the parallel market, contrary to expectations, as it emerges from the completion of the Central Bank of Iraq from working on the
 
     compliance platform, and the complete shift to strengthening
     foreign exchange in international banks corresponding to national banks,
 
which is now covering the needs of The market uses foreign currency to finance foreign trade for the private sector at the official exchange rate of 1,320 dinars per dollar. 

He stated that  "the period of anticipation and anxiety regarding the transition to the new situation was absorbed by the
 
     ability to finance trade and other transfers successfully and with high fluency through the
     direct relationship between the Iraqi Bank and its correspondents abroad, reinforced with
     foreign currency that is bought at the official price for customers to finance their trade, especially import trade, without rejection or disruption as well." It happened while working on the platform.”
 
The dollar is currently sold in local markets at an exchange rate of 1,500 dinars, or 150,000 per hundred dollars.    
 
https://alforatnews.iq/news/ما-سر-استقرار-الدولار-في-العراق-رغم-توتر-المنطقة؟-مستشار-حكومي-يوضح   

Banking Expert: Private Banks Do Not Support The Iraqi Economy And Live Off The Central Bank
 
Economy Central Bank of Iraq Private banks  2024-12-16 00:52  Twilight News/ Banking expert Mohamed Salem confirmed on Monday that most private banks are... She no longer “lives” on the Central Bank of Iraq without engaging in any economic activity.
 
And he said Salem told Shafaq News Agency, “Most private banks do not practice banking business
 
   It concerns credit only in a small way and  therefore does not contribute to revitalizing the Iraqi economy, as...      Currency exchange is the basis of its banking revenues, so  
it has become dependent on  
     electronic trading Hard currency and
     electronic payment, where
 
you
     obtain the dollar from the central bank and
     sell it And you
     get net profits without getting tired.”

And he realized   “Private banks, although they moved away from providing bank loans, were pioneers In
     electronic trading and in
     providing services to citizens and employees, whether related to ATMs Mechanism or other electronic services at a time when government banks were suffering from backwardness In this field." He explained
 
 “These services at private banks encouraged employees to settle their salaries there While government banks, except for the Iraqi Trade Bank, remained suffering from the problem of scarcity Localizing the salaries of its employees.” He confirmed Salem said,
 
 “Government banks, despite their failure to keep pace with international and even private banks
 
However, it remains faithful in preserving its depositors’ money, no matter how much it is exposed to theft or plunder This is what these banks witnessed in 2003.”
https://shafaq.com/ar/اقتصـاد/خبير-مصرفي-المصارف-ال-هلية-لا-تدعم-الاقتصاد-العراقي-وتعتاش-على-البنك-المركزي   

Documents: The Iraqi Central Bank Punishes 49 Companies Involved In “Money Laundering” And Warns Against Fake Ones
 
Economy     Central Bank of Iraq  2024-12-16 02:35  Shafaq News/ The Central Bank of Iraq decided, on Monday, to punish 49 companies involved in “money laundering,” and also warned of fake trading and investment companies.
 
The bank directed the banks not to allow the 49 sanctioned companies to enter external financial transfer channels. In this context, the
 
Central Bank warned citizens of the existence of fake companies for electronic trading. The bank said in a statement received by Shafaq News Agency,
 
“There are fictitious companies for electronic trading in shares that claim to be licensed by the bank, and the
 
bank states that it does not grant a license to companies trading in (stocks, metals, and cryptocurrencies), pointing out that
 
“it has taken all legal measures against such people.” Fake companies. The bank indicated that
 
"some pages and publications on social networking sites have reported the names of fictitious companies that exploit the name of the Central Bank and claim that they are official Iraqi trading companies licensed by it for the purpose of investing and trading in digital currencies, stocks, gold, and oil by broadcasting fake videos and publications, and profits are withdrawn through wallets." Or it is delivered to people according to their claims, noting that
 
these companies claim to have branches in the governorates of Kirkuk, Mosul, Erbil and Sulaymaniyah.” The bank stressed the

need for “victims of these fake companies to take legal measures against them and inform the relevant authorities, calling on the public, before making any transfer, to review the names of the non-banking financial institutions licensed by it and published on its official website.”
 
Documents: The Iraqi Central Bank punishes 49 companies involved in “money laundering” and warns against fake ones
 
https://media.shafaq.com/media/arcella/1734349029648.jpeg
https://media.shafaq.com/media/arcella/1734349030304.jpeg
https://media.shafaq.com/media/arcella/1734349030588.jpeg
https://media.shafaq.com/media/arcella/1734349031782.jpeg
 
https://shafaq.com/ar/اقتصـاد/وثا-ق-المركزي-العراقي-يعاقب-49-شركة-متورطة-بـ-غسل-ال-موال-ويحذر-من-خرى-وهمية   

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

Seeds of Wisdom RV and Economic Updates Tuesday Morning 12-17-24

Good Morning Dinar Recaps,

RLUSD TO BE LISTED ON UPHOLD WITH 5% REWARDS—WILL ALL XRP USERS BENEFIT?

▪️Ripple’s RLUSD stablecoin launches on Uphold on December 18 with 5% rewards starting January 2025.

▪️RLUSD is backed 1:1 by USD reserves and approved by NYDFS.

Ripple’s new USD-backed stablecoin, RLUSD, will be fully launched on the Web3 financial platform Uphold on 18 December 2024. In January 2025, RLUSD will become part of Uphold’s Rewards Center, allowing users to be rewarded for holding the stablecoin. This launch is an important milestone for Ripple and its attempts to advance digital payment systems and bring value to XRP holders.

Uphold and Ripple Partnership

RLUSD is authorized and established under the New York Trust Company Charter and regulated by the New York Department of Financial Services. It is backed 1:1 by USD reserves and cash equivalents, a position that must be stable and reliable.

Maintaining stablecoin transparency is ensured through regular, preferably monthly, third-party audits. The stablecoin itself has enhanced enterprise-grade security. Ripple has also audited RLUSD’s smart contracts to improve safety and its reception by institutions.

Exclusive Rewards and User Benefits

Later in January 2025, RLUSD stored on Uphold will be eligible for several privileges from the platform’s Reward Center. The users will be paid 5% of the RLUSD holdings by simply browsing the platform, depositing assets, trading, and many other activities. Also, participants will be given a limited opportunity to get insight into all the top cryptocurrencies and first dibs on any new token sale.

Uphold has made the latest change in its Rewards Center, introducing a tier structure. Those specific users who have managed to get through all three levels will be given the opportunity to use RLUSD a full day before anyone else. This initiative corresponds to Uphold’s approach of involving people and providing utility to the XRP stakeholders.

Future Expansion and Strategic Partnerships
Ripple’s RLUSD stablecoin, which will be accessible on MoonPay, Archax, and is going live on CoinMENA soon and on Bitso, Bitstamp, Bullish, and Mercado Bitcoin in the following weeks. Such a wide release is believed to help boost awareness and acceptance of RLUSD in different world markets.

Ripple has assembled an advisory board to steer the development of RLUSD, which includes Raghuram Rajan, former governor of the Reserve Bank of India, and Kenneth Montgomery, former chief operating officer of the Federal Reserve Bank of Boston. Current members present at the platform include Sheila Bair, David Puth, and Chris Larsen, co-founder of Ripple.

As we have seen, with the introduction of RLUSD and its inclusion in Uphold, Ripple is again establishing its relevance in the digital payment systems’ ecosystem. Uphold maintains strategic participation in such platforms in line with its goals of providing genuine financial services in the blockchain industry.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

BRICS ISN’T THE REAL THREAT TO THE DOLLAR, THE US IS: HERE’S WHY

With the US president-elect targeting the BRICS bloc in 2025, many experts are worrying that the real threat to the US dollar lies eternally, not with BRICS. Donald Trump recently demanded that the BRICS nations “commit” that “they will neither create a new BRICS Currency nor back any other Currency to replace the mighty U.S. Dollar.” Trump also backed this threat with several tariff increases. However, could these backfire and harm the dollar more?

One Bloomberg analyst says that if Trump wants to maintain the dollar’s primacy, he should recognize that its value is not dependent on American power and threats, but on American reliability. How much could his incoming presidency harm BRICS, or the US dollar itself?

To Pursue or Not Pursue De-Dollarization: What are BRICS’ Plans?

South Africa released an official statement to affirm no common currency was planned. Furthermore, India’s foreign minister insisted that BRICS nations had “no interest in weakening the US dollar.” Even Russia’s President Putin said last month that the bloc isn’t aiming to destroy the greenback. That mission may still be carried through by the US itself though, putting the bloc in an advantage in 2025.

The BRICS bloc’s true mission appears not to be hurting the US economy or to challenge the primacy of the dollar. They want to instead carve out a section of the financial system that isn’t subject to US power. The US, however, hasn’t done well to keep its native currency strong over the last few years. The 2020 pandemic saw the dollar weaken dramatically, and nations around the world grew frustrated with the currency.

Trump to do More Harm to US Dollar Than BRICS?

Additionally, Trump’s Tariff plan may also do more harm than good to the US economy. If enacted, the tariff could be the catalyst for inciting continued efforts to abandon the US dollar on a global scale.

In a post to Truth Social, Trump previously said, “We require commitment from these countries that they will neither create a new BRCIS currency to replace the mighty US dollar, or they will face 100% tariffs and should expect to say goodbye to selling into the wonderful US economy.” 

Although BRICS nations have previously said that they would not seek to ditch the currency, Trump’s policies could drive a necessary recalculation of what would be best for these countries.

The imposition of Western sanctions drove Russia to initiate de-dollarization efforts through its BRICS alliance. The weaponization of the greenback saw the bloc further enhance trade deals, ultimately leading to the promotion of local currency trade. That will only enhance under Trump’s tariff plan.

Moreover, it will harm American industries. The current efforts to ditch the US dollar wouldn’t have the same effect on imports that the incoming president would.

Russian spokesperson Dmitry Peskov addressed Trump’s recent warning for the alliance specifically. “More and more countries are switching to the use of national currencies in their trade and foreign economic activities,” he said.

The global trade market is now as hungry as ever for a US dollar alternative. Several countries within BRICS are switching to local currencies, and even pursuing new reserve currencies not named USD. 

With Trump looking to put an iron fist on BRICS and USD opposers, the damage and fears may start growing more from the inside than his targets. The US may no longer be the middleman for many countries in global trade soon if the US dollar is indeed abandoned.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

WARNING MERGING SEC AND CFTC COULD COST YOU BILLIONS!  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps

“Tidbits From TNT” Tuesday Morning 12-17-2024

TNT:

Tishwash:  After an Interruption of More Than 30 Years, Iraq Wins the Chairmanship of the Executive Council of the Arab Investment Company

The Iraqi Embassy in Libya announced today, Tuesday, that Iraq won the presidency of the Executive Council of the Arab Investment Company in the year 2025.

The Chargé d'Affaires of the Embassy, ​​Ahmed Al-Sahaf, told the Iraqi News Agency (INA) that "in a prominent diplomatic step, Iraq succeeded in winning the presidency of the Arab Investment Company during the 63rd session of the Arab Economic and Social Council held in the Jordanian capital, Amman, to return to this position after an absence of 32 years," noting that "Iraq has not been able to obtain the presidency of the aforementioned company's council since 1992."

She explained that "this achievement came in accordance with the joint coordination between the Ministries of Foreign Affairs and Industry and within the priorities of the government program of Prime Minister Mohammed Shia al-Sudani, and the emphasis of Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein on repositioning Iraq's role in regional and international organizations, within the multilateral diplomatic path

As well as the strategic planning and management that the Iraqi Ministry of Industry has been pursuing, and in accordance with productive diplomacy, through intensive efforts led by the Iraqi Embassy in Tripoli, headed by the Chargé d'Affaires, Dr. Ahmed al-Sahaf, who was able to obtain decisive Libyan support to strengthen Iraq's candidacy, through coordination with the Chairman of the Investment Authority in the State of Libya, Dr. Abdul Hakim al-Fitouri, who gave Libya's vote to Iraq, which it needed to secure victory."

He noted that "Iraq hosted the company's executive council meetings in 2025 in Baghdad, a step aimed at enhancing Arab cooperation in the fields of industry and infrastructure, and consolidating Iraq's position as a pivotal industrial center."  link

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

Tishwash:  Jordanian Parliament: We are happy to see Iraq recovering, as it is the heart of the Arabs and the basis of their strength

During a meeting with Mahmoud Al-Mashhadani

 Jordanian Parliament Speaker Ahmed Al-Safadi confirmed on Monday that his country is happy to see Iraq recovering, and said that it is “the heart of the Arabs and the basis of their strength,” during his reception of his counterpart Mahmoud Al-Mashhadani and the accompanying delegation on a visit after an official invitation.

Today, Monday, the Speaker of the House of Representatives, Dr. Mahmoud Al-Mashhadani, and the accompanying parliamentary delegation arrived at the Jordanian House of Representatives building, in response to an official invitation from the Speaker of the House, Mr. Ahmed Al-Safadi.

The Speaker of the House of Representatives stressed that the Hashemite Kingdom of Jordan has priority in our official visits and is our first destination after our presidency of the House of Representatives, stressing that Iraq needs all its people and brothers and we are committed to standing with the Arab nation in all its issues.

Dr. Mahmoud Al-Mashhadani added that the situation in Palestine today needs a serious Arab stance, which requires concerted efforts to support the rights of the Palestinian people. Likewise, the situation in Syria and Lebanon needs real support and assistance to confront the political, economic and security challenges that these sister countries are going through.

For his part, Mr. Ahmed Al-Safadi welcomed President Al-Mashhadani and his accompanying delegation during the meeting, saying: Today we are happy to see Iraq recovering, as it is the heart of the Arabs and the basis of their strength.

The meeting was attended by a number of representatives, in addition to Mr. Omar Al-Barzanji, the Iraqi Ambassador to the Hashemite Kingdom of Jordan.

The visit aims to strengthen relations between the two brotherly countries in various political, economic and security fields, in addition to discussing regional and international issues of common interest.  link

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

Tishwash: Exchange rate rises in local markets as dollar selling platform in Iraq nears completion

The dollar exchange rate recorded a new rise today, Tuesday (December 17, 2024), during trading on the main stock exchange and the local market .

Baghdad Today correspondent said that the dollar exchange rate recorded 150.950 dinars for every 100 US dollars in the main stock exchange in the capital, Baghdad .

He added that the selling price in the exchange offices recorded 152,000 dinars, while the buying price recorded 150,000 dinars for every 100 US dollars.

On Wednesday (September 4, 2024), the Central Bank of Iraq revealed the mechanism for ending the electronic platform for foreign transfers, while indicating that the placement of foreign transfer operations and meeting requests for the dollar are on sound paths consistent with international practices and standards . 

The bank said in a statement received by "Baghdad Today", that "the electronic platform for foreign transfers managed by the Central Bank of Iraq began at the beginning of 2023 as a first stage to reorganize financial transfers in a way that ensures proactive oversight of them instead of subsequent oversight by the Federal Reserve auditing daily transfers, and this was an exceptional procedure as the Federal Reserve does not usually do this, and a gradual shift was planned towards building direct relationships between banks in Iraq and foreign correspondent and approved banks, mediated by an international auditing company to conduct pre-audit of transfers before they are executed by correspondent banks ."

He added that "during the year 2024 and until now, 95% of the transfer process from the electronic platform to the mechanism of correspondent banks directly between it and Iraqi banks has been achieved, which means that only about 5% of it remains within the platform, which will be transferred using the same mechanism before the end of this year and according to the plan," explaining that "some expectations about potential impacts on the exchange rate and transfer operations are baseless, because the process will not be sudden or in one batch at the end of this year, but rather it was originally achieved during the past period with effort and careful follow-up, except for the remaining small percentage that will be completed in the coming short period ."

He stressed that "trade with the United Arab Emirates, Turkey, India and China represents about 70% of Iraq's foreign trade as (imports), which prompted the Central Bank of Iraq to find channels for transfer in euros, Chinese yuan, Indian rupees, and Emirati dirhams, through approved correspondent banks in those countries, and (13) Iraqi banks have actually begun conducting transfer operations with a pre-audit mechanism that has been agreed upon and approved in addition to transfers in dollars ."

He continued: "With the provision of channels for personal transfers for legitimate purposes and external purchases through electronic payment channels and international money transfer companies and cash sales to travelers, and the payment of cash dollars for incoming transfers to the parties and purposes specified in the Central Bank's published instructions ."

The Central Bank of Iraq stressed that it "put foreign transfer operations and meeting dollar demands on sound paths consistent with international practices and standards and the Anti-Money Laundering and Terrorism Financing Law," explaining that "providing the aforementioned channels for all purposes at the official dollar price makes this price the true indicator of economic practices, which is proven by the reality of price stability and control of inflation, and any other price traded outside those channels is an abnormal price that those with unorthodox or illegal practices resort to, who move away from official channels in their dealings, so they bear the additional costs alone by purchasing at a higher price than the official price to delude others with the difference between the official price and others  link

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

Tishwash:  Parliamentary Committee: Government working to reduce gap between parallel and official exchange rate to achieve stability

The Parliamentary Finance Committee explained, on Monday, that the government is working to reduce the gap between the parallel and official exchange rates to achieve stability, while indicating that the Iraqi economy will not be affected by the deteriorating conditions in Syria .

Committee member Moeen Al-Kazemi said in a statement followed by "Mil", "The government and the Central Bank have taken several important measures to confront the security and economic challenges in the country, especially in light of the deteriorating conditions in Syria ."

Al-Kadhimi continued, "The situation in Syria does not affect the Iraqi economy or the dollar exchange rate in the local market ."

He added that "the dollar exchange rate in the parallel market is currently stable, noting that the government is working to reduce the gap between the parallel exchange rate and the official rate to achieve greater economic stability ."

Currency markets are witnessing significant changes with the “sudden” rise in the value of the Syrian pound against the Iraqi dinar  link

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

Mot: . I feel safe now Jed! 

Mot: got Caught he did!!! Pickles mosying and hightailing it

MilitiaMan & Crew-Iraq Dinar News-CBI-Achievements in Tourism-Revenues-Exchange rates-Digital Platforms-Currency

MilitiaMan & Crew-Iraq Dinar News-CBI-Achievements in Tourism-Revenues-Exchange rates-Digital Platforms-Currency

12-16-2024

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=ea-4FWZh-Pk

Seeds of Wisdom RV and Economic Updates Monday Evening 12-16-24

Good Evening Dinar Recaps,

CRYPTO MARKET AWAITS FED DECISION, POWELL'S STATEMENT; WHAT TO EXPECT

The cryptocurrency market is abuzz with anticipation ahead of the Federal Reserve decision and comments from Fed Chair Jerome Powell later this week.

The U.S. Federal Reserve's final meeting of the year is slated for this week; the Federal Open Market Committee's meeting on Tuesday and Wednesday is of particular interest to investors eagerly expecting this year's final interest rate decision.

Other economic statistics will be released throughout the week, including retail sales for November on Tuesday, weekly initial jobless claims and the GDP growth rate for the third quarter on Thursday.

As of Monday, markets had priced in a 97% chance of a 25-basis-point interest rate decrease. Markets will look to the Fed's updated policy statement and Fed Chair Jerome Powell's press conference on Wednesday for clues about future interest rate decisions.

The Fed is now undergoing a blackout period, which means committee members are unable to make public comments prior to the FOMC meeting.

What to expect?
If the Fed announces a rate cut and Powell's comments are regarded positively, the cryptocurrency market may respond positively. Lower interest rates generally boost risk assets, including cryptocurrencies, as investors seek higher returns.

On the other hand, if Powell's statement suggests a slowing approach or if the rate cut is smaller than expected, the market may react unfavorably. Concerns about persistent inflation and a slower pace of rate cuts might dampen investor enthusiasm.

In Monday's trading session, the crypto market is currently posting mixed price action. Bitcoin recently surged to a new all-time high.

According to CoinMarketCap, Bitcoin's price was recently up 1.41% daily at $103,926, after reaching a new record high of $106,554 in early Monday trading. Ethereum rose 1.62% in the last 24 hours to $3,951. The majority of cryptocurrency assets traded in the red; XRP, Shiba Inu, Toncoin and BONK lost between 2% and 4%, while SUI, BGB, Fantom and RUNE gained between 4% and 15% in the last 24 hours.

The outcomes of the Fed's decisions and Powell's insights might set the tone for the market in the coming days.

@ Newshounds News™

Source:  Investing

~~~~~~~~~

CURRENCY: INDIAN RUPEE FALLS TO ITS LOWEST AGAINST THE  US DOLLAR

The Indian rupee dipped to its lowest price point against the US dollar in the currency markets on Monday. The INR fell to an all-time low of 84.92 and is now a stone’s throw away from plummeting to 85. The DXY index, which tracks the performance of the US dollar, shows the currency touching the 107.03 mark. It had reached a 52-week high of 108.07 and could reclaim its lost territory if it holds on to the momentum.

Confidence in Trump is boosting the US dollar while other local currencies, including the Indian rupee, are taking a beating. 

Several financial analysts indicate that the INR could fall below 85 due to weak economic cues. The Reserve Bank of India (RBI) is also unable to tame the fall of the INR despite accusations of selling the US dollar in the open markets.

Why Is the Indian Rupee Falling Against the US Dollar in the Currency Markets?

The rising crude oil prices and the exit of foreign institutional investors (FII) in the equities market are weakening the Indian economy.

In the last three months alone, a record $12 billion worth of equities have been offloaded by foreign institutional clients. The move weakens the Indian rupee as the US dollar flexes its muscles in the currency markets.

The development made Sensex dip from a high of 85,000 to a low of 78,000. However, the index managed to reclaim the 81,000 mark during Monday’s trade. The RBI now remains vigilant and is closely monitoring the Indian rupee’s lackluster performance against the US dollar.

The central bank has been previously accused of interfering in the currency market by dumping the US dollar to protect the rupee.

The Indian rupee is projected to lose further value against the US dollar on the heels of Trump’s inauguration. Trump has vowed to maintain the US dollar’s supremacy and punish the countries that plan to cut ties with the greenback. The threats include a 100% tariff on all goods entering the US for trade.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

24 HOURS TO STOP TOTAL SURVEILLANCE BEFORE IT'S TOO LATE?  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps

Iraq Economic News and Points to Ponder Monday Afternoon 12-16-24

The Central Bank Of Iraq Warns Against Fake Trading Companies Claiming Official Licensing

Economy  | 12/16/2024   Mawazine News –The Central Bank of Iraq warned, on Monday, of the existence of fictitious companies claiming to be licensed to provide electronic trading services in stocks, metals and cryptocurrencies.

The bank explained in a statement received by "Mawazine News" that it does not grant any licenses to trading companies in these fields**, indicating that all legal measures are taken against these fictitious companies that promote their activities in a misleading manner.

The statement added that some pages on social media sites circulate the names of fictitious companies that exploit the name of the Central Bank, claiming that they are licensed Iraqi trading companies.

It stressed that these companies promote investment in digital currencies, stocks, gold and oil through fake videos and posts, and claim that they provide profits that are withdrawn through electronic wallets or directly, with reference to allegations of the existence of branches in Kirkuk, Mosul, Erbil and Sulaymaniyah.

The Central Bank stressed the importance of reporting to the competent authorities by the victims of these companies, calling on the public to verify the names of licensed financial institutions published on the bank's official website before conducting any transfer or investment operations. https://www.mawazin.net/Details.aspx?jimare=257528

Oil Prices Stabilize, Brent At $74

Time: 2024/12/16 08:02:53 Read: 1,287 times  {Economic: Al Furat News} Oil prices stabilized at the beginning of the first trading session this week, after recording weekly gains, with the United States indicating its intention to impose stricter sanctions on Russian crude, and the authorities in China pledging to support the country's economy.

Brent crude was trading above $74 a barrel after rising about 5% last week, while West Texas Intermediate was trading near $71.

The United States and its allies may consider lowering the $60 per barrel price cap on Russian oil to further limit its access to funding for the war in Ukraine, U.S. Treasury Secretary Janet Yellen said in an interview with Reuters.

Crude has been trading in a tight range since mid-October, as expectations of ample supply next year and a gloomy outlook from China overshadowed geopolitical tensions. LINK

Gold Prices Stabilize In Baghdad And Erbil

Monday 16 December 2024 12:31 | Economic Number of readings: 122 Baghdad / NINA / The prices of "foreign and Iraqi" gold stabilized today, Monday, in the local markets in the capital, Baghdad, and Erbil.

The selling prices of gold in the wholesale markets on Al-Nahr Street in Baghdad, this morning, were recorded at 562 thousand dinars per mithqal of 21 karat Gulf, Turkish and European gold, and the purchase price was 558 thousand dinars, while the selling price of one mithqal of 21 karat Iraqi gold was recorded at 532 thousand dinars, and the purchase price was 528 thousand.

As for the prices of gold in goldsmiths' shops, the selling price of a mithqal of 21 karat Gulf gold ranged between 565 thousand and 575 thousand dinars, while the selling price of a mithqal of Iraqi gold ranged between 535 thousand and 545 thousand dinars.

In Erbil, the selling price of 24-karat gold was recorded at 645 thousand dinars, 21-karat gold at 564 thousand dinars, and 18-karat gold at 485 thousand dinars. / End 11 https://ninanews.com/Website/News/Details?key=1174963

Dollar Exchange Rate Rises In Baghdad With Stock Exchange Closing

Economy  | 12/16/2024  Mawazine News - The US dollar rose against the Iraqi dinar in Baghdad markets on Monday, while it fell slightly in Erbil, the capital of the Kurdistan Region, with the closing of the stock exchange.

The dollar also rose with the closing of the two main stock exchanges in Baghdad, Al-Kifah and Al-Harithiya, to record 151,000 dinars per 100 dollars, while this morning it recorded 150,500 dinars per 100 dollars.

Selling prices rose 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 decrease, where the selling price reached 150,300 dinars per 100 dollars, and the purchase price reached 150,200 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=257536

Rafidain Bank: Collecting More Than 5 Trillion Dinars... Electronically

Monday 16 December 2024 10:20 | Economic Number of readings: 166  Baghdad / NINA / Rafidain Bank announced the collection of more than 5 trillion dinars from 1124 departments that activated electronic collection. / End 9

https://ninanews.com/Website/News/Details?key=1174916

Our Economy And Banks In 2025 

Samir Al-Nusairi   In the midst of the challenges and repercussions of the political and security events that our country and the countries of the geographical region are currently going through, the methodology of economic and banking reform enters a new phase in 2025 in cooperation and coordination between the government and the Central Bank, with insistence on continuing to implement the strategy of transitioning the economy and banking sector to recovery and development and achieving good growth rates according to the expectations of the World Bank and the International Monetary Fund in the coming year.

One of the most important steps to reform our national economy is the transformations.

The major task of structuring and developing government and private banks and concluding agreements with solid international consulting and auditing companies to accomplish these tasks in 2025.

According to standard indicators that are relied upon to assess the strength of the economy and the soundness of the banking sector, the most prominent of which is the sufficiency of foreign cash reserves, which exceeded $100 billion, with a sufficiency of 140% to cover imports and the exported local currency, and the decline in the inflation rate to 3.7% after reaching its highest rates at the end of 2022, and the decline in external debt to a level not exceeding $19 billion.

Emphasizing that the objectives of the Central Bank's monetary policy, as stated in its applicable law, are to achieve economic growth and stability, and that one of its main objectives is to achieve stability in the financial and monetary system, reduce inflation rates, and stabilize the prices of goods and services in the extremely complex economic, security, and political conditions that Iraq suffered from in 2023 and 2024.

The government is making clear efforts to revolutionize the active economic sectors, namely agriculture, industry, tourism, customs and tax services fees, and to increase their share of the general budget revenues to 20%.

Which led the Central Bank to take many measures in cooperation with the government to regulate foreign trade, control foreign transfers, regularity in the global financial and banking system, compliance with international standards, digital transformation in the banking sector, and work on preparing and launching its new strategy for banking reform and classification in all its basic links at the level of internal and external banking transactions, the most prominent of which is securing the US dollar for major and registered traders and for every trader, regardless of his classification, at the official price.

This confirms, without a doubt, that the Central Bank’s strategy and measures during the years 2023 and 2024 achieved one of the basic objectives of monetary policy, which is to reduce the inflation rate and maintain the general level of prices of goods and services.

It must be noted that one of the most prominent indicators of the strength and recovery of our economy is what the International Monetary Fund recently expected, that the expected economic growth rate in 2025 will be 5.3%, while it contracted by 2.2% in 2022. The expected rate is higher than the growth rates in Morocco, Kuwait, Bahrain, Oman, Algeria, Jordan and Qatar. It is an indicator.

On the strength of our economy, which is an inevitable result of the economic and financial reform programs implemented by the government and the Central Bank since 2023. 136 views   12/16/2024 - https://economy-news.net/content.php?id=50936

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

Seeds of Wisdom RV and Economic Updates Monday Afternoon 12-16-24

Good Afternoon Dinar Recaps,

RIPPLE'S RLUSD STABLECOIN LAUNCHING TUESDAY FOLLOWING MASSIVE XRP SURGE

The dollar-pegged Ripple USD (RLUSD) will begin trading Tuesday across Ethereum and XRP Ledger, Ripple said Monday.

Ripple will launch its U.S. dollar-pegged stablecoin called Ripple USD (RLUSD) on Tuesday, the company announced Monday.

Backed by U.S. dollars, U.S. government bonds, and cash equivalents, Ripple said that the token will initially trade on platforms including MoonPay, Uphold, Bitso, Archax, and CoinMENA. RLUSD will be available across Ethereum and XRP Ledger, Ripple added.

The anticipated launch follows a recent surge in the value of XRP, the token created by Ripple's co-founders that is used in the firm's payments services. XRP jumped to a seven-year high price of $2.82 earlier this month, and remains up by 122% over the last 30 days at a current price of $2.45, per data from CoinGecko.

RLUSD’s debut comes amid growing demand for stablecoins, which have found notable use in areas like remittances and decentralized finance, or DeFi. This year, the total market cap of stablecoins has ballooned to over $200 billion, a steep increase from $130 billion in January, according to DeFiLlama.

Stablecoins are meant to track a fiat currency’s price, such as the U.S. dollar’s, but Ripple’s Chief Technology Officer, David Schwartz, issued a recent warning. Some pre-market bids for RLUSD valued the stablecoin as high as $1,244, a price that he said should come back down.

The first stablecoin was launched over a decade ago, but companies outside the crypto space may just have started dipping their toes. 

The payments giant PayPal launched its PYUSD stablecoin last year, and a group of firms, including Robinhood, announced plans just last month to support a Global Dollar stablecoin (USDG) issued by Paxos.

Ripple said its stablecoin will be regulated by the New York Department of Financial Services, which issued the company a limited purpose trust company charter. The charter, first issued to a crypto firm in 2015, effectively makes Ripple’s product subject to New York banking laws.

Ripple said it will publish third-party attestations, providing insight into the stablecoin’s backing, each month via an independent auditing firm, for the sake of transparency.

As of now, stablecoins are subject to a patchwork of regulations in the U.S. that can vary state by state, even though the NYDFS framework has inspired states like California.

 Lawmakers have, however, discussed the merits of regulating stablecoins federally since legislation was introduced by Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY) in 2022.

Last year, the U.S. House Financial Services Committee passed the "Clarity for Payment Stablecoins Act of 2023.” But the bill that would provide a framework for regulating stablecoins still needs to be passed in the House and Senate. That could involve a period of bargaining and more debate, Circle’s Vice President, Yam Ki Chan, previously told Decrypt.

While the 118th Congress will end in less than three weeks, leaving lawmakers with little time to pass legislation, Democrats and Republicans had expressed optimism that a stablecoin framework could be passed in 2024. Congress’ next session will begin January 3.

@ Newshounds News™

Source:  Drcrypt

~~~~~~~~~

BANK INDONESIA COMPLETES PROOF OF CONCEPT FOR DIGITAL RUPIAH: WHAT’S NEXT?

Indonesia has completed the first phase of its digital Rupiah project, advancing towards a central bank digital currency.

Bank Indonesia has achieved a significant milestone in exploring a central bank digital currency (CBDC). It completed the Proof of Concept (PoC) for the Wholesale Rupiah Digital (wRD) Cash Ledger.

This achievement marks the conclusion of the first phase of Project Garuda, a groundbreaking initiative to develop a digital Rupiah. It aims to make the digital Rupiah a legal tender central to the country’s financial modernization efforts.

What Is Next for CBDC in Indonesia?

Governor Perry Warjiyo emphasized in the whitepaper that the digital Rupiah represents Bank Indonesia’s proactive response to the rapid transformation of the financial landscape. Moreover, the regulator wants to be a single issuer of a state digital currency.

The project seeks to create a unified and interconnected ecosystem capable of supporting diverse financial transactions while safeguarding the integrity of the Rupiah.

The design of the digital Rupiah focuses on interoperability, ensuring seamless integration across various platforms and systems.

With it, Indonesia aims to strengthen its financial infrastructure by adopting it all across its monetary sovereignty.

Insights from the Proof of Concept

The PoC phase explored three fundamental business processes critical to implementing the Wholesale Rupiah Digital: issuance, redemption, and fund transfer.

These processes were tested using two advanced distributed ledger technology (DLT) platforms:

Corda, developed by R3
Hyperledger Besu, created by Kaleido
Over 55 test scenarios evaluated the platforms’ suitability for the wRD business model, focusing on resilience, privacy, speed, scalability, and fault tolerance.

Fransiskus Xaverius Tyas Prasaja, an economist at Bank Indonesia, highlighted that the technical success of the PoC validated DLT’s potential to meet the rigorous demands of the Rupiah Digital framework.

Corda employs a central notary system to validate transactions. It ensures integrity through a directed acyclic graph interconnecting transaction data.

Meanwhile, Hyperledger Besu leverages a proof-of-authority mechanism with multiple validators, maintaining data integrity within a blockchain-based structure.

Notably, integrating smart contracts also emerged as a key innovation during the PoC phase. These programmable agreements enhanced transaction efficiency and offered greater flexibility.

Moreover, the PoC demonstrated that DLT platforms can seamlessly integrate with conventional financial systems through ISO 20022 standards. It ensures compatibility with existing frameworks while enabling connectivity with other distributed systems.

Transparency has been a cornerstone of Project Garuda’s development. Bank Indonesia released a comprehensive whitepaper titled “Project Garuda: Navigating the Rupiah Digital Architecture,” detailing the project’s phased approach.

The PoC represents the first phase, laying the groundwork for the Intermediate State, where operationalization and scaling will take center stage.

Deputy Governor Juda Agung also stressed the importance of these findings. He stated that the insights gained from this phase will serve as a foundation for refining the digital Rupiah’s business and technical dimensions.

“The success and various insights from this proof of concept will form the foundation for strengthening the business and technical aspects of the Rupiah Digital in the future.”

The next steps will focus on operational readiness, scalability, and ensuring that the digital Rupiah is equipped to serve the entire Indonesian population.

@ Newshounds News™

Source:  CryptoNews

~~~~~~~~~

ELON MUSK'S SEC FEUD SPARKS OUTRAGE: RIPPLE, RAMASWAMY, PALIHAPITIYA SLAM CORRUPT TACTICS

Elon Musk’s SEC battle has drawn criticism from Ripple’s legal chief, Vivek Ramaswamy, and Chamath Palihapitiya, who accuse the regulator of corruption, coercion, and partisan overreach.

SEC Faces Backlash Over Elon Musk Case: Ripple’s Legal Chief Weighs in

Elon Musk’s ongoing battles with the U.S. Securities and Exchange Commission (SEC) have sparked fresh debates over the agency’s enforcement tactics, drawing commentary from political and business figures including Ripple Chief Legal Officer Stuart Alderoty, venture capitalist Chamath Palihapitiya, and politician Vivek Ramaswamy.

Musk shared a letter on his social media platform X on Thursday from his attorney, Alex Spiro, accusing the SEC of a years-long harassment campaign against Musk and his companies. Spiro claimed the SEC has issued a 48-hour settlement ultimatum, threatening fines or charges, allegedly driven by higher-level directives.

The letter also referenced a new SEC investigation into Neuralink and a subpoena against Spiro under coercive threats, demanding clarity on whether the SEC’s actions stem from internal or external influences like the White House.
Palihapitiya weighed in on the broader implications of SEC actions, criticizing the agency’s use of taxpayer resources. He wrote on X:

This is ridiculous. Why does the SEC think they can continue to waste government resources (ie our money) so uselessly?!?!? Without a reasonable check and balance, partisan bureaucrats will continue to use lawfare to create foot faults and slow down people they don’t agree with.

“And if you don’t happen to have the resources Elon has, you will be screwed. I hope people appreciate how corrupt this all is,” he warned.

Ramaswamy, recently appointed alongside Musk to lead the Department of Government Efficiency (DOGE), accused the SEC of undermining public trust. “Here’s the worst part: the SEC regularly loses case after case in federal court because they contort their rules in illegal & unconstitutional ways,” Ramaswamy wrote, adding that their actions weaken faith in the rule of law.

Ripple’s chief legal officer joined the discussion, replying to Ramaswamy:

Ripple exposed the SEC’s lawless tactics early on. As the court said in our case: ‘The SEC is adopting its litigation positions to further its desired goal, not out of a faithful allegiance to the law.’ The question isn’t whether the SEC under Gensler is rogue—it is. The question is how we hold them accountable?

Meanwhile, a shakeup at the SEC is underway as Gary Gensler prepares to step down as Chair, signaling a potential shift in the agency’s regulatory approach. 

Gensler, known for his hardline stance on cryptocurrency and financial regulations, will leave his post in January 2025. His successor, Paul Atkins, is a former SEC commissioner and a proponent of more lenient regulation, particularly in the crypto space.

Atkins’ nomination by President-elect Trump has sparked debate, with industry insiders anticipating a friendlier environment for digital assets while critics warn of reduced oversight. The transition could redefine the SEC’s priorities, pending Senate confirmation of Atkins.

@ Newshounds News™

Source: Bitcoin News

~~~~~~~~~

PRESIDENT-ELECT DONALD TRUMP SAYS, “WILL BE DOING SOMETHING GREAT WITH CRYPTO.”

|  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps

De-Dollarization, 2 Countries Settle $37 Billion in Local Currencies

De-Dollarization, 2 Countries Settle $37 Billion in Local Currencies

Geopolitical Analyst: 12-15-2024

As the geopolitical landscape shifts, the Commonwealth of Independent States (CIS) is making significant strides towards financial independence by advancing the use of local currencies in cross-border trade.

Comprising 12 member countries, the CIS is actively reducing its reliance on the US dollar, a trend that is reshaping trade dynamics and signaling a wider push among developing nations to establish alternatives to the world’s dominant reserve currency.

The de-dollarization initiative within the CIS has gained substantial traction, with projections indicating that around 80% of cross-border transactions among member states were settled in local currencies in 2024.

This notable shift underscores a comprehensive strategy aimed at diminishing the influence of the US dollar and bolstering the financial sovereignty of CIS countries. Recent trading activities reveal that only 20% of payments in the region involved the dollar, showcasing a marked decrease in dollar-denominated transactions and reflecting the growing efficacy of this de-dollarization agenda.

In a bold move indicative of this trend, Russia and Belarus have forged a robust trading partnership, with trade deals surpassing the $37 billion mark in 2024, representing an impressive increase of 8.4% year-on-year. The numbers tell a compelling story: as these nations deepen their economic ties, they are simultaneously advancing a broader ambition shared by many developing countries to elevate local currencies within the global trade framework.

The impetus for this pivot towards local currencies predominantly stems from sanctions imposed by the United States on both Russia and Belarus. In response, these nations have embraced mutual trading agreements in local currencies, seeking to fortify their economies and sustain trade relationships despite geopolitical pressures.

This initiative illustrates a significant shift, where financial strategies are being recalibrated to mitigate challenges posed by reliance on external currencies, particularly the US dollar.

“The payments in local currencies stem from the sanctions pressed by the White House against Russia and Belarus,” remarked Russian President Vladamir Putin. By adopting this approach, both nations aim not only to preserve economic stability but also to set a precedent for other developing countries that share similar aspirations of reducing dollar dependency.

The CIS’s commitment to local currencies is echoed by a growing sentiment among its members. With 80% of trade settlements occurring in local currencies this year, the bloc is at the forefront of a regional revolution that could influence global trade practices.

The ramifications of this shift extend beyond the CIS, with developing economies worldwide observing the progress with keen interest. Many are following suit, aspiring to reshape the traditional balance of currency reliance in international trade.

According to Belarusian President Alexander Grigoryevich, the trade trajectory between Russia and Belarus is clear. With trade figures forecasted to meet or even exceed expected levels by year’s end, the integration between these two nations serves as a model for others. “This forecast, I believe, is right on the money,” Putin stated, emphasizing the positive outlook for continued bilateral trade growth.

As the CIS navigates its path towards de-dollarization, the implications for global finance are profound. The bloc’s success could inspire a broader movement among other nations, particularly in the developing world, to challenge the long-standing dominance of the US dollar.

With the practical use of local currencies on the rise and trade partnerships being fortified, the shift represents not just a financial strategy but also a pivotal step towards economic resilience and independence for member nations.

As we look ahead, the developments within the CIS and similar initiatives around the globe will be crucial in determining the future landscape of international trade and finance. If the current trends continue, we could indeed witness a paradigm shift, with local currencies gradually stepping into the spotlight, challenging the centuries-old supremacy of the dollar in global markets.

https://youtu.be/L5e4mPgtFG4

Iraq News Highlights and Points to Ponder Monday AM 12-16-24

93% Of The Central Bank Of Iraq’s Dollar Sales Are Foreign Transfers

2024-12-16 Shafaq News/ Foreign remittances in the sales of the Central Bank of Iraq, on Monday, reached 93% in the currency auction in which 15 banks participated.

Shafaq News Agency correspondent reported that the bank sold in its auction today 295 million, 465 thousand, and 923 dollars, covering it at a basic exchange rate of 1310 dinars per dollar for documentary credits and international settlements for electronic cards, and at a rate of 1310 dinars per dollar for foreign transfers, and at a rate of 1305 dinars per dollar in cash.

He added that most of the dollar sales went to boost balances abroad in the form of remittances and credits, which amounted to $277 million, 665 thousand, and 923, an increase of 93% over cash sales amounting to $17 million, 600 thousand.

Our correspondent pointed out that only one bank purchased cash dollars, while the number of banks that met requests to enhance balances abroad was 14 banks, and the total number of exchange companies participating in the auction was 24 companies .   LINK

632 Billion Dinars Is The State’s Revenue From Asiacell And Zain Iraq During 2024

Money and business  Economy News – Baghdad  Today, Monday, economic expert, Munar Al-Obaidi, counted the Iraqi state’s revenues from the two telecommunications companies, Asiacell and Zain Iraq, during the first nine months of 2024.

Al-Obaidi said, in a statement followed by "Al-Eqtisad News", that "during the first nine months of 2024, Asiacell and Zain Iraq achieved net profits estimated at 453 billion Iraqi dinars."

He added, "The Iraqi state's revenues from the two companies amounted to only 632 billion Iraqi dinars," noting that "the state's total revenues from the communications sector between the Ministry of Communications, the Communications Commission, and the General Tax Authority are estimated at around 1.5 trillion dinars annually."

Al-Abidi asked: “Do we really need a new mobile network or are we trying to improve the state’s revenues through this sector through the principle of transparency in managing this file?” 80 views - https://economy-news.net/content.php?id=50931

Securities And Exchange Authority Discusses The Mechanism For Entering The Digital Exchange Platform Of The Abu Dhabi Market

Money and business   Economy News – Baghdad  Today, Monday, the Securities and Exchange Authority discussed with the Abu Dhabi Market the signing of a joint cooperation agreement to exchange expertise, while discussing the mechanism for entering the market’s digital exchange platform.

A statement by the Authority received by "Al-Eqtisad News" stated that "the Chairman of the Iraqi Securities Commission, Faisal Al-Haimus, met during an official visit to Abu Dhabi, the CEO of the Abu Dhabi Securities Market Group, Abdullah Salem Al-Naimi, where they discussed ways to enhance cooperation between the Iraq Stock Exchange and the Abu Dhabi Securities Market, and focused on signing a joint cooperation agreement aimed at exchanging expertise and developing work mechanisms in the financial markets."

He added, "The mechanism for the Iraq Stock Exchange to enter the digital exchange platform launched by the Abu Dhabi Securities Exchange in 2022 was discussed, as the exchange platform is the first digital exchange center in the region based on the mutual market access model, which currently includes 8 participating financial markets."

Al-Haimas stressed the "importance of this cooperation in enhancing the role of the Iraq Stock Exchange at the regional level, as well as in developing the investment environment in Iraq."

For his part, Al Nuaimi expressed “the Abu Dhabi Securities Exchange’s readiness to support this initiative,” noting that “cooperation with the Iraqi Authority will enhance the exchange of knowledge and expertise between regional financial markets, and enhance the role of financial markets in economic growth.”

He added, "We at the Abu Dhabi Securities Market believe in the strength of cooperation between financial markets, and we look forward to achieving joint successes with the Iraqi Securities Commission, which will contribute to developing financial markets and enhancing investment in the region."

It is noteworthy that Al-Haimas participated in the Middle East Investor Relations Association (MEIRA) Annual Conference for the year 2024, which was held in the UAE capital, Abu Dhabi, in partnership with the Abu Dhabi Securities Exchange.

The conference was attended by more than 800 leaders and experts, including representatives of 150 issuers from the GCC and Middle East countries, 33 financial markets, in addition to more than 150 participants in local and international financial markets.

The conference also provided a unique platform for exchanging insights and ideas among more than 80 experts from around the world, who discussed important issues affecting capital markets, such as the growth of GCC markets, the role of artificial intelligence in investor relations, and the integration of environmental, social and governance criteria into Islamic finance.

This joint cooperation between the Iraqi Securities Commission and the Abu Dhabi Securities Market reflects Iraq’s commitment to developing the investment environment and enhancing the role of financial markets in supporting regional economic growth.

56 views 12/16/2024 - https://economy-news.net/content.php?id=50944

Our Economy And Banks In 2025

Samir Al-Nusairi    In the midst of the challenges and repercussions of the political and security events that our country and the countries of the geographical region are currently going through, the methodology of economic and banking reform enters a new phase in 2025 in cooperation and coordination between the government and the Central Bank,

with insistence on continuing to implement the strategy of transitioning the economy and banking sector to recovery and development and achieving good growth rates according to the expectations of the World Bank and the International Monetary Fund in the coming year.

One of the most important steps to reform our national economy is the transformations.

 The major task of structuring and developing government and private banks and concluding agreements with solid international consulting and auditing companies to accomplish these tasks in 2025.

According to standard indicators that are relied upon to assess the strength of the economy and the soundness of the banking sector, the most prominent of which is the sufficiency of foreign cash reserves, which exceeded $100 billion, with a sufficiency of 140% to cover imports and the exported local currency, and the decline in the inflation rate to 3.7% after reaching its highest rates at the end of 2022, and the decline in external debt to a level not exceeding $19 billion.  

Emphasizing that the objectives of the Central Bank's monetary policy, as stated in its applicable law, are to achieve economic growth and stability, and that one of its main objectives is to achieve stability in the financial and monetary system, reduce inflation rates, and stabilize the prices of goods and services in the extremely complex economic, security, and political conditions that Iraq suffered from in 2023 and 2024.

The government is making clear efforts to revolutionize the active economic sectors, namely agriculture, industry, tourism, customs and tax services fees, and to increase their share of the general budget revenues to 20%.

Which led the Central Bank to take many measures in cooperation with the government to regulate foreign trade, control foreign transfers, regularity in the global financial and banking system, compliance with international standards, digital transformation in the banking sector, and work on preparing and launching its new strategy for banking reform and classification in all its basic links at the level of internal and external banking transactions, the most prominent of which is securing the US dollar for major and registered traders and for every trader, regardless of his classification, at the official price.

This confirms, without a doubt, that the Central Bank’s strategy and measures during the years 2023 and 2024 achieved one of the basic objectives of monetary policy, which is to reduce the inflation rate and maintain the general level of prices of goods and services.

It must be noted that one of the most prominent indicators of the strength and recovery of our economy is what the International Monetary Fund recently expected, that the expected economic growth rate in 2025 will be 5.3%, while it contracted by 2.2% in 2022. The expected rate is higher than the growth rates in Morocco, Kuwait, Bahrain, Oman, Algeria, Jordan and Qatar. It is an indicator.

On the strength of our economy, which is an inevitable result of the economic and financial reform programs implemented by the government and the Central Bank since 2023. 80 views 12/16/2024 - https://economy-news.net/content.php?id=50936

Al-Sudani: We Are Facing A New Reality And Era For Iraq With Optimal Investment Of All Its Capabilities

Posted on’2024-12-15 by sotaliraq’Prime Minister Mohammed Shia Al-Sudani stressed that we are facing a new reality and era for Iraq with optimal investment of all its capabilities.

The Prime Minister's media office said in a statement that "Al-Sudani sponsored the Riyada Initiative Conference, which was held in the capital, Baghdad, under the slogan (Investing in human energies to raise the capabilities of the Iraqi economy... towards an entrepreneurial society),"

 indicating that "he opened the first Riyada Exhibition, toured its premises, and viewed models of projects that were founded and implemented by young people through loans provided to them within the initiative, as they varied in agricultural, industrial, and handicraft projects, in addition to projects that adopted artificial intelligence."

Al-Sudani blessed “the convening of the Riyada Conference, and appreciated the efforts of those in charge of it. He also thanked all the parties that contributed to the success of this initiative, which was launched by the government with the start of its executive duties, as it was announced on March 4, 2023, within a vision based on reducing unemployment as a priority in the government program, and changing the philosophy of society’s orientation towards government employment as the only path to work.”

He stressed that “the trainings within the initiative program included more than (750) governmental and civil institutions, and loan requests reached (16845) loans, and provided (10747) job opportunities in various fields,” stressing that “the population census, the results of which were announced early, showed that our society is a young society,

which requires absorbing these energies, in a way that makes them produce and contribute to the development of the country, pointing to the goal of the (Riyada Initiative) in reaching an entrepreneurial society of young people, through work, training, empowerment, and incubation throughout the project period, leading to its success and achieving its economic feasibility.”

Al-Sudani pointed out that “the leadership of the electronic aspect was adopted, as part of the government program’s commitments to adopting digital transformation and artificial intelligence, using modern technologies, and facilitating and simplifying procedures,” noting that “we inherited a system of the Iraqi state since its establishment that relies on the state to create job opportunities and employ graduates, and this path does not serve the state in the future.”

He explained that “we have young people who have the ability, education, potential and desire to achieve the best for their country, and the goal of the Riyada initiative is to invest in the opportunities we have, and it is a dream for our ambitious youth,” stressing that “we were able to move forward with the initiative, through the work of its team, and the interaction of advisors, ministers and governors.”

He explained that “the families interacted with the initiative, and the preparation and idea for establishing the project began in conjunction with the study and in harmony with the specializations, and today we are facing a new reality and era for Iraq with the optimal investment of all its capabilities and natural resources, which were not invested in the correct way,” stressing that “the small projects within the Riyada initiative will be the nucleus for medium and large projects.”

Al-Sudani explained that “we are working on developing various sectors, and in partnership with foreign companies, the local product must be present, and parts of the car industry can be manufactured in local workshops, and government banks will be present in supporting (Riyada) initiatives,” indicating that “we have an integrated vision that starts with the youth to cover the needs of the local market for goods.”   LINK

Seeds of Wisdom RV and Economic Updates Monday Morning 12-16-24

Good Morning Dinar Recaps,

XRP NEWS: RIPPLE CTO WARNS OF EARLY RLUSD SUPPLY SHORTAGES AND PRICE VOLATILITY

XRP Price Today: XRP trades at $2.41, with bullish market sentiment as the community eagerly anticipates the RLUSD stablecoin launch.

Ripple CTO warns against FOMO as RLUSD launch may see prices briefly spike above $1 before stabilizing. Stablecoin's purpose is price stability.

Ripple’s Chief Technology Officer, David Schwartz, has warned that while there may be temporary supply shortages when RLUSD launches, causing prices to rise below $1, the price will soon stabilize as the market adjusts.

He urged investors not to fall for “FOMO” (Fear of Missing Out) over possible early price fluctuations of the stablecoin. For the unversed, Ripple’s CEO, Brad Garlinghouse recently announced that RLUSD has received final approval from the New York Department of Financial Services.

Responding to concerns raised on X, Schwartz explained that during RLUSD’s early days, some individuals may be willing to pay unusually high prices, like $1,200 per fraction of an RLUSD, simply to be the first to purchase it.

He wrote,
“If you want to spend a lot of money to get a tiny bit of RLUSD before anyone else does, you can. But please don’t expect the price to stay over $1 once things stabilize, which I expect they will do very quickly. Please don’t FOMO into a stablecoin! This is not an opportunity to get rich.”

However, he assured that this price spike is temporary, and once supply stabilizes, the price will return to around $1. He said that the core purpose of a stablecoin is to maintain a stable price, and any short-term fluctuations will be corrected by arbitrage traders.

Community Awaits the Launch
The XRP community is excited for the launch of the RLUSD stablecoin. RLUSD is a stablecoin tied to the US dollar, meaning its value will stay at one US dollar. It will be issued on both the XRP Ledger and Ethereum blockchains. Ripple says it will be fully backed by cash and equivalent reserves and can be redeemed 1:1 for US dollars.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

Ripple CTO Warns of 'FOMO' as RLUSD Stablecoin Prepares for Market Debut

Schwartz highlighted pre-market bids for RLUSD reaching $1,244, driven by buyers eager to claim the “honor” of being the first to buy it.

Ripple’s chief technology officer, David Schwartz, has cautioned investors about potential price volatility for RLUSD, Ripple’s U.S. dollar-pegged stablecoin, as it prepares for launch.

@ Newshounds News™

Source:  Decrypt

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps

“Tidbits From TNT” Monday Morning 12-16-2024

TNT:

Tishwash:  Iraq and Italy sign MoU for economic and tourism cooperation

The Federation of Iraqi Chambers of Commerce signed a memorandum of understanding with its Italian counterpart for economic and tourism cooperation.

A statement by the Federation of Iraqi Chambers of Commerce received by the Iraqi News Agency (INA) stated that "in the presence of a high-level diplomat and businessman, the President of the Federation of Iraqi Chambers of Commerce, Abdul Razzaq Al-Zuhairi, signed a joint memorandum of understanding with the Federation of Italian Chambers of Commerce, Andrea Prete, in the presence of the Iraqi Ambassador to Italy, Siwan Barzani, representatives of the Iraqi Embassy in Rome, and a number of businessmen." 

He added that "the memorandum of understanding included the introduction of several joint work axes, most notably enhancing economic and tourism cooperation between Iraq and Italy, as well as working to establish the Iraqi-Italian Business Council, in addition to the Iraqi-Italian Business Forum, which is scheduled to be held early next year."  link

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

Tishwash:  Documents.. The Central Bank of Iraq punishes 49 companies involved in "money laundering" and warns of other fake ones

The Central Bank of Iraq decided, on Monday, to punish 49 companies involved in "money laundering", and warned against fictitious trading and investment companies.

The bank directed banks not to allow the 49 sanctioned companies to enter into external financial transfer channels.

In this context, the Central Bank warned citizens of the existence of fictitious electronic trading companies.

The bank said in a statement received by Shafaq News Agency, "There are fictitious companies for electronic trading in stocks that claim to be licensed by the bank. The bank clarifies that it does not grant a license to companies trading in (stocks, metals and cryptocurrencies), noting that it has taken "all legal measures against such fictitious companies."

The bank pointed out that "some pages and posts on social media sites have circulated the names of fictitious companies that exploit the name of the Central Bank and claim that they are official Iraqi trading companies licensed by it for the purpose of investing and trading in digital currencies, stocks, gold and oil by broadcasting fake videos and posts, and profits are withdrawn through wallets or delivered to people according to their claims, noting that these companies claim to have branches in the governorates of Kirkuk, Mosul, Erbil and Sulaymaniyah."

The bank stressed the necessity for "victims of these fictitious companies to take legal action against them and notify the relevant authorities of this, calling on the public, before carrying out any transfer operation, to review the names of non-banking financial institutions licensed by it and published on its official website."  link

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

Tishwash:  Securities and Exchange Authority discusses the mechanism for entering the digital exchange platform of the Abu Dhabi Market

Today, Monday, the Securities and Exchange Authority discussed with the Abu Dhabi Market the signing of a joint cooperation agreement to exchange expertise, while discussing the mechanism for entering the market’s digital exchange platform.

A statement by the Commission received by the Iraqi News Agency (INA) stated that "the Chairman of the Iraqi Securities Commission, Faisal Al-Haimus, met during an official visit to Abu Dhabi, the CEO of the Abu Dhabi Securities Market Group, Abdullah Salem Al-Naimi, where they discussed ways to enhance cooperation between the Iraq Stock Exchange and the Abu Dhabi Securities Market, and focused on signing a joint cooperation agreement aimed at exchanging expertise and developing work mechanisms in the financial markets."

He added, "The mechanism for the Iraq Stock Exchange to enter the digital exchange platform launched by the Abu Dhabi Securities Exchange in 2022 was discussed, as the exchange platform is the first digital exchange center in the region based on the mutual market access model, which currently includes 8 participating financial markets."

Al-Haimas stressed the importance of this cooperation in enhancing the role of the Iraq Stock Exchange at the regional level, as well as in developing the investment environment in Iraq.

For his part, Al Nuaimi expressed “the Abu Dhabi Securities Exchange’s readiness to support this initiative,” noting that “cooperation with the Iraqi Authority will enhance the exchange of knowledge and expertise between regional financial markets, and enhance the role of financial markets in economic growth.”

He added, "We at the Abu Dhabi Securities Market believe in the strength of cooperation between financial markets, and we look forward to achieving joint successes with the Iraqi Securities Commission, which will contribute to developing financial markets and enhancing investment in the region."

It is noteworthy that Al-Haimas participated in the Middle East Investor Relations Association (MEIRA) Annual Conference for the year 2024, which was held in the UAE capital, Abu Dhabi, in partnership with the Abu Dhabi Securities Exchange.

The conference was attended by more than 800 leaders and experts, including representatives of 150 issuers from the GCC and Middle East countries, 33 financial markets, in addition to more than 150 participants in local and international financial markets.

The conference also provided a unique platform for exchanging insights and ideas among more than 80 experts from around the world, who discussed important issues affecting capital markets, such as the growth of GCC markets, the role of artificial intelligence in investor relations, and the integration of environmental, social and governance criteria into Islamic finance.

This joint cooperation between the Iraqi Securities Commission and the Abu Dhabi Securities Market reflects Iraq’s commitment to developing the investment environment and enhancing the role of financial markets in supporting regional economic growth.  link

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

Mot: . Once Again == ole ""Earl"" Pushes the Limit he does!!!  

Mot: tryouts today 

MilitiaMan: Completing Steps for Activation of Reforms-World Bank Financing-Oil Pipeline Iraq-Salaries-Tuesday?

Completing Steps for Activation of Reforms-World Bank Financing-Oil Pipeline Iraq-Salaries-Tuesday?

MilitiaMan and Crew:  12-15-2024

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=_2V9-ar5a6c