Seeds of Wisdom RV and Economic Updates Thursday Morning 1-2-25

Good Morning Dinar Recaps,

BRICS NEWS: TURKEY BACKTRACKS ON ALLIANCE, JOINS SAUDI ARABIA

▪️Turkey and Saudi Arabia won’t join BRICS as both nations pulled back their membership plans.

▪️Trump’s planned return and threats of heavy tariffs on nations moving away from the U.S. dollar have made countries hesitant to join the economic bloc.

Turkey has withdrawn its interest in joining the BRICS economic alliance. Turkey’s decision aligns with Saudi Arabia’s, marking a significant setback for the bloc’s expansion plans ahead of 2025. The move is regaining momentum in light of escalating geopolitical tensions and the risks of American action against countries trying to lessen dollar dependence.

Key Nations Step Back from BRICS Membership

Turkey’s failure to go forward with BRICS membership is a key political twist. Turkey is a NATO member and would have been the first to join both alliances. The country spent considerable time propagating for the membership throughout the year, but it rejected the offer given to it as one of the first batches of partner countries.

Saudi Arabia’s case is similar to Turkey’s, although, at one point, it agreed to a request during the 2023 annual summit. The Kingdom has officially suspended its membership process, thus contributing to increasing problems confronting the economic bloc in its formative stage.

U.S. Opposition and Economic Pressures Shape Decision-Making

The expected return of Donald Trump to power in the White House has brought new considerations regarding membership of the BRICS group. As previously reported by Crypto News Flash, Trump’s threat of 100% tariffs on nations willing to leave the U.S. dollar has become a major impediment to potential members.

As a result of such policy, BRICS has been able to enlist nine new partner countries, and here again, the two most relevant participants, Turkey and Saudi Arabia, are conspicuous in their absence. The block’s attempts to counter de-dollarization have intensified and lost ground, especially considering the possible continuation of the American opposition under the Trump presidency.

Impact on BRICS’ Future Trajectory

The partial withdrawal of interest from Turkey and Saudi Arabia shows the dynamics that countries face in the world today when trying to find new economic alliances while keeping their time-tested allies. In addition to Turkey, Nigeria, Vietnam, and Algeria rejected an invitation to join the alliance, implying that other potential members have also been reluctant.

These developments raise fundamental questions about the BRICS expansion model and its capacity to attract major players in an increasingly polarized global landscape. The circumstances show how the membership of the economic alliance has changed from purely financial aspects to a political stand.

It is difficult to say conclusively whether the bloc’s objectives will be achieved and why its endeavors, such as de-dollarization, have recently intensified.

At the same time, it can be stated that the very potential of this process may force its participants and potential members to rethink existing approaches and solve a number of problems that stem from the fact of their existence as actors in the current system of international relations and the modern world economy.

@ Newshounds News™

Source:  Crypto News Flash

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BRICS NEWS:  23 COUNTRIES SHOW INTEREST TO JOIN BRICS IN 2025

The number of countries willing to join the BRICS alliance in 2025 is rapidly growing. More than 20 countries have expressed their interest in joining the bloc and participating in decision-making.

The group is ushering in a new financial era independent from the clutches and dominance of the US dollar. The alliance is pushing de-dollarization as its sole goal, aiming to make local currencies the center of all trade and transactions.

BRICS: 23 Countries Express Interest to Join Alliance in 2025

A Russian diplomat confirmed that around 23 countries are showing interest in joining BRICS in 2025. Russian Presidential aide Yury Ushakov revealed that the alliance is open to inviting like-minded countries to join the bloc. The move will strengthen the prospects of local currencies and challenge the US dollar on the global stage.

“The doors of the association remain open to like-minded countries. At the moment, over two dozen more countries have shown interest in a systemic dialogue with BRICS,” in 2025 said Ushakov. Emerging economies find the alliance lucrative as it’s the only group that’s challenging the hegemony of the US dollar.

The countries that want to join BRICS in 2025 are: “Azerbaijan, Bahrain, Bangladesh, Burkina Faso, Cambodia, Chad, Colombia, the Republic of the Congo, Equatorial Guinea, Honduras, Laos, Kuwait, Morocco, Myanmar, Nicaragua, Pakistan, Palestine, Senegal, South Sudan, Sri Lanka, Syria, Venezuela, and Zimbabwe,” said the aid

However, Ushakov explained that uncontrolled expansion would lead to the association breaking up its thought process. He said that BRICS needs to cherry-pick its partners carefully in 2025 to thrive and survive. “It is clear that uncontrolled expansion of our association would break its backbone. We believe that we need gradual, harmonized, and accurate steps. Like those we have been taking throughout our chairmanship,” Ushakov summed it up.

@ Newshounds News™

Source:  Watcher Guru

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Franklin Templeton predicts Bitcoin reserves to expand globally in 2025

Politicians in Germany and Hong Kong have signaled their interest in adopting strategic Bitcoin reserves for their nations.

@ Newshounds News™

Source:  CoinTelegraph

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Proposal mandating the Swiss National Bank to hold Bitcoin now underway

The Swiss Bitcoiners must rack up 100,000 signatures from Switzerland’s 8.92 million residents by June 30, 2026, to trigger a public referendum.

@ Newshounds News™

Source:  CoinTelegraph

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“Tidbits From TNT” Thursday Morning 1-2-2025

TNT:

Tishwash:  Comprehensive Guide to Trading the Iraqi Dinar (IQD) on Forex - FOREX News on BitcoinWorld (12/31/24)

The Iraqi Dinar (IQD) is the official currency of Iraq, and while it may not be as widely traded as major currencies like the US Dollar (USD) or the Euro (EUR), it holds significant interest for Forex traders looking to diversify their portfolios.

Trading the IQD on the Forex market presents unique opportunities and challenges, influenced by Iraq’s economic conditions, geopolitical factors, and global market trends.

This comprehensive guide delves into everything you need to know about trading the Iraqi Dinar on Forex, including live rates, trading strategies, market analysis, and tips for successful IQD Forex trading today.

Follow link to view FOREX News article:

https://bitcoinworld.co.in/trading-iraqi-dinar-iqd-forex/

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Tishwash:  Expert: Iraqi economy is stable despite changes in the dollar market

Economic expert Safwan Qusay confirmed today, Wednesday, that the Iraqi economy is stable despite the changes in the dollar market.

Qusay said in an interview with Al-Maalouma Agency, “The Central Bank of Iraq announced the termination of the electronic platform for banking transactions starting from the beginning of the new year, after notifying all Iraqi banks of the cancellation decision early on.”

He added that "13 Iraqi banks were able to adapt to this change, as they expanded their dealings with real merchants, so that the percentage of transfers and credits that take place through direct relations between Iraqi banks and supplier banks reached more than 95%." "

He explained that "these operations are carried out in accordance with strict compliance standards that ensure knowledge of suppliers and payment mechanisms."

He continued, “As for the 5% of transfers that were made through the electronic platform, traders who wish to continue importing operations at the official price can open bank accounts within these banks.”

He pointed out that "the Central Bank issued a circular on September 30th allowing traders to import directly after opening bank accounts, without the need for a waiting period that previously extended to six months."

He explained that "the market may witness some fluctuations, but he ruled out the possibility of achieving large profits from importing irregular goods, in light of the Iraqi economy, which relies heavily on the dollar and its high value globally."

He pointed out that "the Iraqi economy will not face major concerns as a result of this change, stressing the importance of adhering to banking procedures to ensure market stability and facilitate import operations."  link

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Tishwash:  Finland announces withdrawal of all its soldiers from Iraq

 The Finnish Ministry of Defense announced today, Wednesday, January 1, 2025, the return of its last soldiers from Iraq by the end of 2024, who participated in training Iraqi forces to fight ISIS gangs within the international coalition.

A statement by the ministry, translated by "Baghdad Today", stated that "ISIS gangs have lost most of the lands they controlled, but they still pose a threat, which requires the continuation of the war against terrorism."

The statement added, "Although Finland's participation in the operation has ended, the impact of its efforts will remain visible for a long time, as the training provided by Finnish forces has contributed to enhancing the ability of security forces to secure their areas and ensure the safety of the local population."

The statement stressed that "despite the end of Finland's participation in Operation Inherent Resolve, it continues to support and develop the security sector in Iraq through its participation in NATO's Mission in Iraq (NMI)."

He explained that "the advisory activity aims to implement broad and long-term reforms of the Iraqi armed forces and their management in cooperation with local partners, which supports the development of the security environment in Iraq," noting that " advisory activities will remain an essential part of efforts to achieve long-term stability in the region, and Finland will continue its work in this important NATO-led process."  link

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Mot: SLOWLY!!! -- Open Very SLOWLY!!!!! 

Mot:  Yeppers!!! -- Already I Am -- Writing the Wrong un!!! Siggghhh

Mot: . Just What is a ~~~~News year resolution

Iraq Economic News and Points to Ponder Wednesday Evening 1-1-25

Iraq Officially Stops Working On The Electronic Platform.. Will We Witness A Crazy Rise In The Dollar?
 
Economy   2025-01-01 | 13,838 views  Alsumaria News – Today, Wednesday, the Central Bank of Iraq announced the suspension of the electronic platform mechanisms related to selling the dollar.
 
Governor of the Central Bank, Ammar Khalaf, said Deputy in a statement to the official agency, followed by Alsumaria News, that  “the working mechanism of the electronic platform related to foreign transfers has stopped working on it, but financing foreign trade continues through correspondent banks according to various mechanisms that are equivalent to what is done in countries of the world.”

He pointed out, "Continuing to grant dollars to travelers at airports according to the approved mechanism, which is the best in restricting the traveler's access to dollars."
 
Dinar’s Exchange Rate

This decision comes as part of a series of reforms aimed at facilitating financial procedures and stimulating the economy, but at the same time it raises questions about its potential impact on the stability of the Iraqi against the US dollar .
 
The concept of the electronic platform and its role in currency stability
 
The electronic platform for money transfers is a mechanism that has been adopted to ensure the regulation of foreign cash transfers and limit manipulation of exchange rates.
 
The platform works to document commercial operations and money transfers by banks and financial companies, ensuring more effective control over hard currency flows inside and outside the country.
 
This platform has greatly contributed to reducing the gap between the official exchange rate and the black market rate, as it has prevented many money laundering and smuggling operations.
 
However, with the decision to cancel this platform, questions arise about how to organize the market and manage transfers.
 
The effect of canceling the platform on the price of the dollar
 
1- Increased demand for the dollar on the black market.
 
With the absence of an electronic platform, the demand for the dollar on the black market may increase as a result of the absence of control mechanisms, which leads to an increase in exchange rates outside official channels.
 
2- Weak confidence in the dinar, as
 
canceling the platform may weaken confidence in the Iraqi dinar, especially if effective alternatives are not developed to ensure market stability.
 
Weak confidence means that citizens and investors may withdraw their money in dinars and convert them to the dollar as a safe haven.
 
3- The impact of smuggling and money laundering, as
 
canceling the platform could eliminate strict control over dollar smuggling operations and smuggling and money laundering practices may expand, which would increase the demand for the dollar and affect the reserves of the Central Bank. greatly
 

4- The market’s dependence on supply and demand.
 
With the cancellation of the platform, the currency market may become more affected by direct supply and demand.
 
This may lead to severe fluctuations in the exchange rate, especially under unstable economic and political conditions.
 
Possibilities of facing a rise in the dollar
 
1- Activating alternative oversight tools
 
The government and the central bank can rely on other regulatory tools, such as strengthening the role of local banks and setting strict restrictions on foreign transfers.
 
2- Increase dollar reserves
 
The central bank may resort to pumping more dollars into the market to meet demand and maintain price stability.
 
3- Promoting local investments
 
By encouraging investment and reducing dependence on foreign currencies, pressure on the dollar can be eased and the dinar strengthened.
 
4-Cooperation with international organizations
 
The government may cooperate with international institutions such as the Monetary Fund and the World Bank to develop economic plans that contribute to market stability.
 
The decision to cancel the electronic platform for financial transfers represents a major challenge to the Iraqi economy, and may have direct effects on the exchange rate of the dollar against the dinar.
 
To achieve economic stability in the next stage, it will be necessary to take proactive measures to compensate for the absence of the platform and ensure continuity of supervision of the financial market.

The balance between facilitating economic procedures and protecting the national currency will be the decisive factor in determining the success of this decision and its effects on citizens and investors.    
  
 https://www.alsumaria.tv/news/economy/511533/العراق-يوقف-رسميا-العمل-بالمنصة-الالكترونية-هل-سنشهد-ارتفاعا-جنونيا-با    

The Central Bank Announces A Major Achievement In Foreign Transfers  

January 01, 2025  The Central Bank of Iraq announces its success in adhering to its program related to the transition from external transfers through the electronic platform to the work of Iraqi banks through their external correspondent banks.
 
This transition took place through stages that the external transfer process went through, starting with the window for buying and selling foreign currency and moving to the stage of the electronic platform for external transfers.
 
The process of gradually enhancing the balances ended during the year 2024 and was fully achieved in the last week of this year.
 
This achievement is considered a radical transformation in line with the best international standards and practices to achieve a stable and secure financial system, and
 
this work received international support and praise throughout the stages of its implementation.
 
The new transfer methodology comes in line with international practices followed in this Field, which separate the responsibilities and duties of the central Bank from the   obligations,  responsibilities and  role of commercial banks. From this standpoint, the
 
Central Bank of Iraq will continue to enhance the balances of Iraqi banks in its correspondent banks in
 
     US dollars, along with a group of other currencies. Such as (the
     Indian rupee, the
     Chinese yuan, the
     euro, the
     Emirati dirham, the
     Saudi riyal, and the
     Jordanian dinar), and
 
this achievement strengthened the The efficiency and safety of external transfer operations, and  
their transition to the method followed in all countries of the world,
 
which will make Iraq enter a new stage in its financial relations regionally and internationally and strengthen the government’s tendencies to expand its economic relations and enhance investment opportunities.

The efforts in this important achievement came through a series of continuous detailed technical procedures and agreements, and great support from the Iraqi government, and
 
the bank will continue to follow modern methods in managing monetary policy in Iraq, in a way that is consistent with its basic role in achieving financial stability and its position among banks.
 
Centralization in the region and the world, which will reflect positively on the confidence and support of Iraq’s external financial sector and international financial and economic organizations.
 
Through this, the management of the Central Bank of Iraq takes this important opportunity to express its thanks and appreciation to everyone who contributed to achieving this great achievement, the first of whom is the 
 
     staff of the Central Bank of Iraq, the
     banking sector in Iraq, and
     all international partners.
 
In conclusion, the Central Bank of Iraq shows its full readiness to support all Iraqi banks that are working to develop and enhance their performance in the field of       governance,     compliance, and
     combating money laundering in a way that reflects positively on the confidence of international and regional banks in them to contribute to strengthening the Iraqi banking system and the Iraqi economy in general.
Happy new year. Central Bank of Iraq  Media office  January 1, 2025      https://cbi.iq/news/view/2755    

Dollar Falls As Markets Close In Baghdad

01/01/2025  Mawazine News – Economy  The dollar exchange rate against the dinar fell on Wednesday evening in Baghdad markets. The dollar price also fell with the closing of the Al-Kifah and Al-Harithiya stock exchanges to record 151,500 dinars per 100 dollars, while this morning it recorded 151,700 dinars per 100 dollars.

The selling prices were recorded in exchange shops in local markets in Baghdad, where the selling price reached 152,500 Iraqi dinars per 100 dollars, while the purchase price reached 150,500 dinars per 100 dollars.    https://www.mawazin.net/Details.aspx?jimare=258126

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

Iraq Economic News and Points to Ponder Wednesday Afternoon 1-1-25

Our Economic And Financial Vision For 2025 In Iraq

Dr. Aqil Jabr Ali Al-Muhammadi / Specialist in Finance and Development Affairs
It is clear that there is a structurally rooted problem in the methodology of evaluating and empowering the state in its sound tools and policies and how to sustain economic progress.

The reality of the situation requires reviewing and evaluating the structure of economic and financial decisions and creating a priority for the economic and financial feasibility of government decisions.

It is clear to observers, specialists and researchers in 2025 that the Central Bank of Iraq, despite all the efforts, decisions and diligent measures to overcome the dollar crisis and its transfers, is challenging its limits and monetary policies, specifically in the matter of canceling the platform and the upcoming challenges for correspondent banks, influence, size and extent of the safety of the mechanism of financial transfers, the approach to sustaining commercial and economic activity, the dominance of some Jordanian banks, and the available and expected solutions and scenarios, etc.

From our own point of view, regarding the subject of the correspondent banking market, if I may say so, we see that it is important for the Iraqi executive government to monitor and follow up on the methodology of the Central Bank’s return to the break-even point and not lose the compass of the course or channels of the dollar’s ​​circulation and transfer in the Iraqi market inside and outside Iraq.

We believe that one of the strategic solutions for the executive government lies in forming a team to monitor and evaluate the mechanism of monetary policy and the dollar, which is its role in supervising, monitoring, evaluating, and not influencing/maintaining the independence of the Central Bank.

The specialized, expert and responsible figures and bodies should be transparent in relation to monetary and banking policy, and give greater flexibility in dialogue and accept opinions and other opinions, and not confiscate or neutralize opinions and proposals on the grounds of the privacy of monetary policy and focus on the priority of re-maintaining and restructuring monetary policy for the benefit of the cohesion of the economic and financial system in Iraq!!!

Regarding the budget price for the year 2025, the fiscal policy will face major challenges and perhaps financial shocks due to the possibility of fluctuations in the oil market and the possibility of facing a financial crisis in the second half of 2025, as indicated by financial reports from some international organizations.

Therefore, the budget price should be restructured as a precaution and a hedge, and a return to the hedge price to ward off internal and external risks and maintain a margin of financial safety. We propose hedge price limits and changing the budget price from $70 to a hedge budget price within the equilibrium limits ranging between $55-60 and in a manner that does not exceed the equilibrium price limits.

There should be a systematic shift from financing initiative policies (such as the Riyada initiative and the like) and others to an institutional structure for financing small, medium and micro enterprises, and building and establishing a specialized body to manage and finance small, micro and medium enterprises, and dealing with a modern financial and economic methodology and models according to sound foundations.

The importance of the state’s thinking shifting to the methodology of economic transformation and the foundations of the institutional digital economy, and establishing a tangible model of economic diversification through good investment of natural resources, gas, minerals, etc., and establishing the mechanism of the social market and the constructive institutional economy, and building a strategy for economic, developmental, and social transformation.

The importance of starting to establish a sovereign fund and financing it with innovative means and models outside the scope of the federal budget as new financial buffers and augmentation of the financial system in Iraq and sustainable financing means for development in Iraq. 298 views 12/31/2024 - https://economy-news.net/content.php?id=51456

Central Bank: Stop Working On The Electronic Platform

Banks  Economy News – Baghdad  The Central Bank of Iraq announced, on Wednesday, the suspension of the electronic platform mechanisms related to selling the dollar, while indicating the continuation of the mechanism for granting the dollar to travelers at airports.

The Deputy Governor of the Central Bank, Ammar Khalaf, said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "the mechanism of work on the electronic platform related to foreign transfers has stopped working, but financing foreign trade continues through correspondent banks according to different mechanisms that are parallel to what is in effect in countries of the world."

He pointed out that "dollars will continue to be given to travelers at airports according to the approved mechanism, which is the best in limiting the traveler's access to dollars."

The Central Bank of Iraq announced today, Wednesday, that it had achieved a major accomplishment in foreign transfers, while indicating that it would continue to follow modern methods in managing monetary policy in Iraq.

A statement by the bank, received by "Al-Eqtisad News", stated that "the bank succeeded in adhering to its program related to the transition from foreign transfers via the electronic platform to the work of Iraqi banks through their foreign correspondent banks," noting that "this transition took place through stages that the foreign transfer process went through, starting with the window for buying and selling foreign currency and moving to the stage of the electronic platform for foreign transfers, and ending with operations to gradually enhance balances during the year 2024 and was fully achieved in the last week of this year."

He continued, "This achievement is a radical transformation in line with the best international standards and practices to achieve a stable and secure financial system, and this work has received international support and praise throughout its implementation stages,"

indicating that "the new transfer methodology is consistent with international practices followed in this field, which separate the responsibilities and duties of the Central Bank from the obligations, responsibilities and role of commercial banks.

From this standpoint, the Central Bank of Iraq will continue to enhance the balances of Iraqi banks with their correspondent banks in the US dollar, in addition to a group of other currencies, such as (the Indian rupee, the Chinese yuan, the euro, the UAE dirham, the Saudi riyal, and the Jordanian dinar)."

He added, "This achievement has enhanced the efficiency and safety of foreign transfer operations, and their transition to the method followed in all countries of the world, which will make Iraq enter a new phase in its financial relations regionally and internationally and enhance the government's orientations in expanding its economic relations and enhancing investment opportunities."

He pointed out that "the efforts in this important achievement came through a series of ongoing detailed technical procedures and agreements, and great support from the Iraqi government, and that the bank will continue to follow modern methods in managing monetary policy in Iraq, in line with its essential role in achieving financial stability, and its position among central banks in the region and the world, which will positively reflect on the confidence and support of the external financial sector of Iraq and international financial and economic organizations."

He explained that "through this, the management of the Central Bank of Iraq seizes this important opportunity to express its thanks and appreciation to everyone who contributed to achieving this great accomplishment, first and foremost the cadres of the Central Bank of Iraq, the banking sector in Iraq, and all international partners."

The statement concluded by saying, "The Central Bank of Iraq expresses its full readiness to support all Iraqi banks that work to develop and enhance their performance in the field of governance, compliance, and combating money laundering in a way that positively reflects on the confidence of international and regional banks in them to contribute to strengthening the Iraqi banking system and the Iraqi economy in general."   101 views 01/01/2025 - https://economy-news.net/content.php?id=51509

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

MarkZ New Year's Coffee at noon. 01/01/2025

New Year's Coffee at noon. 01/01/2025

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: Hello Mark, Mods and all Dinarians! Happy New Year all!

Member: It’s time to unplug the old system and turn on the new system

Member: What’s the latest rates you have heard on dinar and dong Mark?

MZ: the latest I have heard is about  $3.90 street rate on the dinar. Dong we have heard everything from .47 cents to almost $4.00….. Most of my sources are still telling me to expect it in the $2 dollar range

MZ: “Central Bank of Iraq has announced a transition for the electronic platform to banks with foreign transfers”  This is INTERNATIONAL now!

MZ: “The CBE announces the official closing of the dollar selling window”  Auctions are done and closed and they have announced the transition to the new process.

Member: Cut the talk- we want action. let's see them smaller notes in action

MZ: There was no auction today.

MZ: “Central Bank announces a major achievement in foreign transfers” So many articles and I only shared a few but, there is a lot of excitement in Iraq.

MZ: “Central Bank: We have started working on the Correspondent Banking System”  this is the new system with international standards….

MZ: “The general authority of customs adopts the AYESCUDA system and deposits paperwork in a major reform step”  This is a worlds standard amongst all the nations. This is starting today.

MZ: “Comprehensive guide to trading the Iraqi dinar (IQD) on forex”  lookee here. BAM International guys!!

MZ: A number of people have checked in and they are very excited about the education and conversations in Iraq. The talk has been overwhelming about small notes…..or lower denominations….this is from government and banking employees throughout Iraq. Why d they need smaller notes?

Member: to raise the rate and get rid of the large notes we all hold!!!

Member: Is there any news on Bond contacts or banks thank you?

MZ: There are no updates. Today is a banking holiday all over the world.

Member: Mark, Mike Bara, and Jen said tonight into tomorrow morning we will have a rate. Do you think they could be jumping the gun or they may be right?

Member: Praying for this to be a prosperous WEEK for us!

Member: We’re so close yall!! I can almost taste it!!!!!

Member: Looking forward to amazing new yew year. Many Blessings to come our way.

Member: To all those whom I offended in 2024, work on yourself so I don't have to do it again in 2025! Happy New Year!  Lol

Member: Thank you Mark and mods for a great 2024 and looking forward to a better 2025!

Mod”  THATS A WRAP, NO PODCAST TONIGHT SEE YALL IN THE MORNING UNLESS BREAKING NEWS

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.

 ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut

THANK YOU, MARK AND COMM FAMILY!! SEE ALL OF YOU AT 10:00 AM EST TOMORROW, UNLESS SOMETHING HAPPENS, FOR ANOTHER GREAT PODCAST...

Twitch:   https://www.twitch.tv/theoriginalmarkz

Youtube:    https://www.youtube.com/watch?v=oFdGsvY23yM

5 Market Signs of Debt Collapse Within Weeks

5 Market Signs of Debt Collapse Within Weeks

Liberty and Finance:  12-31-2024

As 2024 draws to a close, the economic landscape remains fraught with uncertainty and potential upheaval. In a recent appearance on Liberty and Finance, renowned market analyst Francis Hunt shares his insights on the prevailing economic conditions and offers forecasts for 2025.

His analysis, steeped in a deep understanding of market dynamics, highlights the crucial factors that may trigger a significant economic reset, emphasizing the need for strategic planning among investors.

The year 2024 has been marked by persistent challenges across various sectors of the economy. Hunt meticulously examines the debt markets, noting a rising trend of yield curve inversions—a phenomenon that has historically signaled impending recessions.

With interest rates fluctuating and government debts soaring, the implications for both individual investors and larger financial institutions could be profound. Hunt stresses that understanding these dynamics is essential for anyone looking to navigate the current economic waters.

Hunt identifies several critical factors that could catalyze a significant economic reset in the near future.

Among them, he underscores the growing concerns surrounding the global debt burden, particularly in the wake of expansive fiscal policies implemented over the past few years. As nations grapple with escalating debt levels, the sustainability of these financial strategies comes into question. The interconnectedness of global markets means that distress in one region can rapidly ripple through to others, amplifying risks for investors worldwide.

Moreover, the implications of yield curve inversions cannot be overstated. Historically, such inversions have preceded economic downturns, serving as a warning signal for policymakers and market participants alike. Hunt suggests that as the yield curve continues to behave in this manner, a heightened sense of caution should prevail, prompting investors to reassess their portfolios and strategies.

Amid these challenges, Hunt draws attention to the potential for precious metals to act as a safe haven for investors. With economic volatility on the rise, gold and silver have historically served as a hedge against inflation and currency devaluation.

 Hunt posits that as uncertainty escalates, the demand for these tangible assets may surge, positioning them as a critical component of a defensive investment strategy.

Adding another layer of complexity to the economic narrative is the political context, particularly with the upcoming inauguration of president-elect Donald J. Trump. Hunt discusses how this political shift may influence economic policies and market sentiment moving into 2025.

Trump’s administration is expected to prioritize certain economic reforms, which could lead to both opportunities and challenges for investors. The ramifications of these policies will likely resonate throughout the markets, making it imperative for investors to stay informed and adaptable.

In light of the potential economic reset, Hunt emphasizes the importance of adopting defensive strategies. He advocates for a diversified portfolio that includes not only precious metals but also other asset classes that may provide stability during turbulent times. Investors are encouraged to consider their risk tolerance, investment horizons, and the economic signals that may dictate market movements in the near future.

Furthermore, Hunt underscores the value of remaining agile and responsive to changing market conditions. The ability to pivot and reassess one’s investment strategy in real-time can be the difference between weathering economic storms and suffering significant losses.

As 2024 comes to a close, Francis Hunt’s insights serve as a critical reminder of the complexities that define the current economic landscape.

 With potential triggers for an economic reset on the horizon, and a political shift that could reshape financial policies, investors must remain vigilant and informed. By implementing defensive strategies and staying attuned to market signals, they can navigate the uncertainties of the future, positioning themselves for resilience and opportunity in 2025 and beyond.

https://youtu.be/ePh68Gow5iM

Iraq Economic News and Points to Ponder Wednesday AM 1-1-25

The Dinars Entering The Finances Are 20% Less Than The Amount They Need.. Iraqis Start Their New Year With Anxiety About Salaries

 Economy      2024-12-31 | 3,743 views  Alsumaria News   More than 6 days have passed since the supposed date for the release of employee salaries, while   fears are mounting with the possibility of the salaries of Iraqi retirees being delayed as well, while the date of their salaries will coincide with holiday tomorrow.

the New Year  Iraqi employees often receive their monthly salaries no later than the 25th to 27th of the month, but  the current month ended today, and  there are still no indications of the possibility of disbursing salaries, as salaries were released in “installments” for some categories, ministries and departments and not others, due to the lack of liquidity.

 That is, the Ministry of Finance does not have the Iraqi dinar in its coffers.

 This matter prompted the Ministry of Finance to issue a “denial” statement,

 but the denial appears to be a denial of “the inability to release salaries,” and not a denial of their delay, as the Ministry said in a statement that

 “the information circulating through social media claims an apology for disbursing the salaries of state employees for this month.” Due to a lack of liquidity, it is completely incorrect and has nothing to do with reality.” She added:

 "We are fully committed to the process of financing employee salaries, as the Accounting Department has financed salary entitlements to ministries, governorates, and unrelated entities for the current month of December according to the schedules specified for each of them, and

 it is continuing its efforts to ensure the continuity of disbursing financial dues without any delay or interruption."

 It is clear that the Ministry only denied that “it was not possible to disburse salaries this month,” and did not deny the existence of a shortage of liquidity or a delay in disbursing salaries.

The problems of delaying the disbursement of salaries began to appear more than once during the past few months, with the increase in spending requirements compared to the revenues entering the state.

 For example, current spending alone alone during the past ten months amounted to more than 91 trillion, excluding investment spending, that is, an average.

 More than 9 trillion dinars per month are needed by the Ministry of Finance to ensure current spending such as salaries and other mandatory requirements.

 On the other hand, Central Bank data show that the Ministry of Finance last November sold only $4.4 billion, equivalent to 5.8 trillion dinars, to the Central Bank.

 As for non-oil revenues, they average 1.4 trillion dinars per month, according to Ministry of Finance data, which means that the total non-oil and oil revenues resulting from the sale of the dollar to the Central Bank amount to 7.2 trillion dinars, while what is required is more than 9 trillion dinars per month.

 Accordingly, this means that there is a 20% deficit in the funds required for the obligatory monthly current expenses,

 which makes the Ministry of Finance unable to collect all the funds at one time for the purpose of releasing the salaries of all ministries at the same time, as was the case previously, and it proceeded to release them in “installments,” and whenever It gradually became liquid.

 Member of the Parliamentary Finance Committee, Jamal Cougar, says that the liquidity shortage crisis will continue in 2025, and

 if the price of a barrel of oil falls to $60, we will not be able to secure employee salaries.   

  https://www.alsumaria.tv/news/economy/511383/الدنانير-الداخلة-للمالية-أقل-بـ20-من-المبلغ-الذي-تحتاجه-العراقيون-يبد     

Iraq Ends Dollar Auction Platform: Economic Transformation And New Challenges

  Jawad Al-Samarraie December 30, 2024 Packs of US dollars and Iraqi dinars. Photo: Pukmedia

 Baghdad (IraqiNews.com) – As Iraq steps into 2025, a pivotal change is set to reshape its financial landscape.

The Central Bank of Iraq has announced the termination of its electronic platform for monitoring foreign currency movements and transfers.

While experts have hailed this decision as a “bold step” with significant economic and regulatory implications,

the move also raises concerns about potential challenges that could disrupt the country’s financial stability.

Why End The Dollar Platform?

 The electronic platform, established in early 2023, served as a mechanism to monitor foreign currency transactions, ensuring compliance with international standards.

 However, the Central Bank of Iraq intends to decentralize currency transfers by allowing local banks to engage directly with correspondent banks abroad.

 This shift aims to streamline operations, enhance transparency, and reduce dependency on intermediary systems like the Federal Reserve’s oversight.

According to Kadhim Al-Shammari, a member of Iraq’s Parliamentary Economic Committee,

the platform was a temporary solution to manage the economic chaos and legal loopholes that plagued Iraq’s financial system. Al-Shammari emphasized that

while the Central Bank’s core role is to preserve monetary reserves and stabilize exchange rates, selling dollars should remain the purview of private banks.

However, this transition must be accompanied by stringent regulations to ensure responsible currency distribution.

Potential benefits of ending the platform

 Nawar Al-Saadi, an international economic expert, highlights the advantages of this decision:

  1.  Enhanced transparency: Decentralizing transactions could promote more straightforward and transparent dealings between local and correspondent banks.

 2.   Cost Reduction: Eliminating the platform’s maintenance expenses could save significant resources for the Central Bank.

 3.   Direct international compliance: By adhering to global banking standards, Iraq can reduce bureaucratic barriers and foster stronger financial relationships with foreign institutions.

 4.   Efficient financial operations: Simplified processes can reduce delays in currency transfers, benefiting traders and importers.

 The Central Bank’s strategic shift also aligns with its efforts to diversify currency usage, facilitating trade with key partners like China, India, and the UAE using alternative currencies such as the euro, yuan, and rupee.

 Challenges And Risks

Despite its merits, the decision to end the platform is fraught with challenges:

1.   Increased black market activity: Economic experts warn that the absence of robust mechanisms could push traders towards unregulated markets, driving up exchange rates.

 2.   Limited bank participation: Only five out of Iraq’s 60-70 banks have the capacity to handle direct international transfers, which may create bottlenecks and operational delays. 

3.   Inflation risks: A rise in exchange rates could elevate import costs, triggering inflation and reducing purchasing power for Iraqi citizens.

 4.   Economic uncertainty: Traders reliant on the platform may face disruptions, potentially slowing commercial activity and increasing unemployment in import-dependent sectors.

 Adil Al-Alawi, head of the Iraqi Economic Alliance, underscores the importance of implementing rapid regulatory measures and capacity-building initiatives to mitigate these risks.

 The lack of effective oversight could exacerbate financial crimes, including money laundering and tax evasion, tarnishing Iraq’s global economic reputation.

 Expert Recommendations

 To ensure a smooth transition, financial analysts propose the following:

 1.   Gradual implementation: Phasing out the platform while providing adequate training and resources for local banks to adapt.

 2.   Enhanced oversight: Establishing strict regulatory frameworks to monitor dollar distribution and curb illicit activities.

3.   Market stability measures: Increasing dollar availability through official channels to reduce reliance on parallel markets.

4.   Public awareness campaigns: Educating traders and importers about the new system to minimize confusion and resistance.

 Central Bank’s Roadmap

 In a statement issued in September 2024, the Central Bank reassured stakeholders about its comprehensive plan to transition to the new system.

 By the end of 2024, 95% of foreign currency transactions had already shifted from the platform to direct banking channels, with only 5% remaining to be integrated.

 The Bank also introduced alternative mechanisms, such as facilitating personal transfers through electronic payment systems and ensuring dollar availability for legitimate purposes at official exchange rates.

 Looking Ahead

 Iraq’s decision to end the dollar platform marks a significant milestone in its economic reform journey.

 While the move promises long-term benefits, its success hinges on meticulous execution, robust oversight, and proactive stakeholder engagement.

 By addressing potential challenges and leveraging international banking best practices, Iraq can strengthen its financial resilience and pave the way for sustainable economic growth.

 As 2025 unfolds, all eyes will be on Iraq’s financial sector to assess the real impact of this bold initiative.

 The outcome will not only shape Iraq’s domestic economy but also influence its standing in the global financial arena.     https://www.iraqinews.com/business/iraq-ends-dollar-auction-platform-economic-impact/     

Arab Bank Group Gains Approval To Relaunch Operations In Iraq Starting 2024

  Business Iraq Jawad Al-Samarraie December 30, 2024

Arab Bank Group Relaunch In Iraq   Baghdad (IraqiNews.com) – Arab Bank Group has received final approval from the Iraqi Central Bank on December 24, 2024, to relaunch its banking operations in Iraq.

 The bank is set to begin its official activities in the new year, marking a significant development in the Iraqi financial landscape.

 This move highlights Arab Bank’s ambition to expand its footprint in the Arab region and strengthen external investments,  making Iraq a pivotal market in its broader strategy.

 Arab Bank’s History And Legacy

 Arab Bank’s approval to operate in Iraq brings back an institution that has a rich legacy in the country.

 The bank previously operated four branches in Iraq from 1945 to 1964, serving as a cornerstone for Iraq’s financial development during that time.

 Arab Bank was founded in 1930 by Abdul Hameed Shoman in Jerusalem, Palestine, with an initial capital of £15,000 and seven shareholders.

 Following the events of 1948, the bank moved its headquarters to Amman, Jordan, where it became a publicly traded company.

 During the 1940s and 1950s, Arab Bank expanded rapidly, establishing 43 branches across the Arab world and beyond.

 In 1961, the bank achieved another milestone by becoming the first Arab financial institution to establish a presence in Switzerland.

 Today, Arab Bank operates over 500 branches worldwide, making it one of the most influential financial institutions in the region.

 A Promising Step For Iraq’s Banking Sector

 The re-entry of Arab Bank into Iraq signifies the increasing appeal of Iraq’s financial market to international and regional investors.

 The bank’s presence is expected to enhance the Iraqi banking sector by introducing modern financial practices and fostering increased economic activity.

 This development not only strengthens Iraq’s financial infrastructure but also provides a gateway for other Arab and global institutions to invest in the country.

Looking Ahead

Arab Bank’s return to Iraq marks a promising step forward for the country’s banking and economic development.

 As Iraq continues to rebuild and attract foreign investment, Arab Bank’s role will be critical in fostering financial collaboration and regional integration.    https://www.iraqinews.com/business/arab-bank-relaunches-iraq-2024/     

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

Seeds of Wisdom RV and Economic Updates Wednesday Morning 1-1-25

Happy New Year Dinar Recaps,

80% OF JAPANESE BANKS TO ADOPT XRP BY 2025: A GAME-CHANGER FOR FINANCE

Japan’s financial sector is undergoing a transformative shift as nearly 80% of the nation’s banks plan to integrate XRP into their systems by 2025.

This groundbreaking move is expected to redefine cross-border payments and remittances while advancing blockchain technology adoption in mainstream finance.

Yoshitaka Kitao, CEO of SBI Group, a prominent financial institution in Japan, has voiced strong support for XRP, emphasizing its utility in international remittances. He highlighted RippleNet’s growing adoption and XRP’s role in enhancing transaction efficiency. Unlike Bitcoin, which Kitao describes as lacking inherent value, XRP’s utility-driven demand underscores its long-term potential.

This initiative is particularly significant for Japan, a country with a sizable expatriate and migrant worker population that relies heavily on remittances. XRP’s integration promises to streamline cross-border transactions, offering faster, cheaper, and more reliable financial solutions.

Economic and Institutional Impact of XRP Adoption

Japan’s adoption of XRP could serve as a global model for blockchain-based financial systems. With one of the world’s largest economies leading the charge, other countries may follow suit. Western nations have already begun regulating cryptocurrencies more rigorously, signaling a broader shift toward institutional adoption of blockchain solutions.

The integration of XRP also has the potential to drive financial inclusion. By reducing remittance costs, it can empower individuals in underbanked regions, creating a ripple effect of economic opportunities. Furthermore, as institutional investment in XRP increases, its mainstream acceptance is poised to grow, further legitimizing blockchain-based financial models.

XRP’s Role in Global Financial Transformation

Ripple’s On-Demand Liquidity (ODL) network, which leverages XRP for seamless cross-border payments, continues to expand globally. This network has already positioned XRP as a vital player in the future of finance. If other countries adopt similar models, XRP’s utility and market value could experience significant growth.

While the exact number of Japanese banks implementing XRP by 2025 remains uncertain, the current trajectory indicates a profound transformation in Japan’s banking landscape. As global financial systems evolve, XRP is cementing its role as a cornerstone of blockchain-enabled finance.

Daily Technical Outlook: XRP/USD – December 31, 2024

XRP/USD is trading at $2.03054, up 0.64%, reflecting a cautious recovery amid ongoing bearish sentiment. The pivot point at $2.14005 serves as a critical level. Immediate resistance is seen at $2.17118, with further barriers at $2.35413 and $2.51623. On the downside, immediate support is at $2.01000, with deeper protection at $1.95654 and $1.79139.

Technically, XRP remains under pressure, trading below the 50 EMA at $2.14005, indicating bearish momentum. The RSI at 37.43 hovers in the oversold zone, hinting at potential consolidation before a breakout. A descending triangle pattern dominates the 4-hour chart, suggesting a continuation of the downtrend unless prices break decisively above $2.17118.

While a sustained breakout above $2.17118 could spark bullish momentum, failing to hold above $2.01000 may accelerate declines toward $1.95654. Traders should monitor these levels closely as XRP approaches a decisive inflection point.

@ Newshounds News™

Source:  FX Leaders

~~~~~~~~~

FOUR TRENDS THAT SHOW THE FUTURE OF CROSS-BORDER PAYMENTS

The global economy is an intricate web of transactions, and cross-border payments serve as its financial backbone.

For much of its history, that backbone has been creaky, slow and inefficient. But throughout 2024, the cross-border payments sector evolved at a breathtaking pace, driven by technological innovation and changing customer expectations, while simultaneously grounded in regulatory and compliance considerations.

Four central themes emerged throughout PYMNTS’ coverage of the space this year:  growing collaboration between FinTechs and financial institutions (FIs); the maturation of blockchain as a key cross-border rail; smarter compliance tools powered by artificial intelligence (AI) and machine learning; and the emergence of real-time payment infrastructure.

Financial Institutions and FinTechs: A New Era of Collaboration

In 2024, we witnessed a convergence and an evolution of FinTech and FI partnerships that worked to reshape the cross-border payments landscape. FIs brought the scale, infrastructure and regulatory expertise, while FinTechs contributed agility, innovation and customer-centric solutions.

“The [cross-border] space is very fragmented, and there’s a lot of opportunity for someone to emerge and dominate that space — or help banks improve the service that they offer,” Andy Elliott, vice president of strategy at EvonSys, told PYMNTS.

The convergence also signals a shift in mindset. Rather than viewing FinTechs as disruptors, FIs now see them as partners essential for navigating an increasingly digital economy. This symbiosis will likely deepen, leading to hybrid models where the lines between traditional banking and FinTech blur further.

Blockchain and Stablecoins: Building the Infrastructure of Tomorrow

Blockchain technology has long held the potential to transform cross-border payments by offering faster, more secure and cost-effective solutions. In 2024, we witnessed the maturation of this technology, with stablecoins — cryptocurrencies pegged to stable assets like fiat currencies — emerging as a viable medium for international transactions. Major players like PayPal and Circle have introduced their own stablecoins to modernize cross-border remittances and B2B transactions alike.

The PYMNTS Intelligence report “Can Blockchain Solve the Cross-Border Payments Puzzle?“ explored how blockchain could revolutionize cross-border payments, assessed its current adoption and examined the future implications for financial institutions and businesses.

Unlike traditional systems burdened by intermediaries, stablecoins offer near-instant settlement and reduced transaction costs. However, challenges remain. Regulatory clarity is uneven across jurisdictions, creating hurdles for widespread adoption. Still, the groundwork laid in 2024 suggests that stablecoins could serve as a gateway for broader blockchain adoption in cross-border payments.

The next phase? Integrating these digital assets seamlessly into existing financial systems to drive mainstream usage.

Smarter Compliance Solutions: Turning Pain Points into Opportunities

Compliance remains one of the biggest challenges in cross-border payments, particularly in a world of tightening regulations and heightened scrutiny.

“Everything’s going more cross-border and getting regulated, so tax compliance regulation is huge for new business models in new markets,” Sovos CEO Kevin Akeroyd told PYMNTS in an interview posted in April.

Faulty cross-border payments cost merchants in the United States at least $3.8 billion in sales last year alone, according to the PYMNTS Intelligence report “Cross-Border Sales and the Challenge of Failed Payments.” Additionally, 70% of U.S. firms experienced higher rates of failed payments in cross-border sales compared to domestic sales.

But 2024 marked a turning point: the rise of smarter compliance solutions powered by AI and machine learning (ML). Advanced tools now enable real-time monitoring of transactions to detect fraud, ensure anti-money laundering (AML) compliance and verify customer identities.

The result? Compliance becomes less of a bottleneck and more of a competitive advantage. As these technologies evolve, they promise to bring greater efficiency and security to cross-border transactions, paving the way for more seamless global commerce.

Instant Payments: A Global Mandate

The demand for real-time transactions has skyrocketed, fueled by the expectations of consumers accustomed to instant gratification in their personal lives. In 2024, cross-border payments worked on catching up, with innovations in instant payment infrastructure taking center stage.

For businesses, instant payments mean improved cash flow, reduced reliance on credit and enhanced supplier relationships. For consumers, they eliminate the frustration of waiting days for funds to clear. As real-time payment networks expand and interconnect, they’re likely to become one of the default mode for cross-border transactions.

Ultimately, as PYMNTS’ Karen Webster noted in an interview posted in October, any focus on cross-border innovation needs to be on solving key frictions: moving money securely and safely, providing transparency throughout the process and optimizing the economics of cross-border transactions.

@ Newshounds News™

Source:  Pymnts

~~~~~~~~~

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“Tidbits From TNT” Wednesday Morning 1-1-2025

TNT:

Tishwash:  Al-Hassan congratulates on the New Year: Iraq is able to overcome challenges

The representative of the Secretary-General of the United Nations in Iraq, Mohammed Al Hassan, confirmed in a message on the occasion of the New Year, today, Tuesday, that the Iraqi people have the ability to face challenges.

The Special Representative of the Secretary-General of the United Nations in Iraq congratulates the Iraqi people and government on the New Year: 

Al-Hassan said in a tweet on the {X} platform, "I congratulate the Iraqi people and the Iraqi government on the achievements made during the year 2024."

He added, "In 2024, we witnessed great achievements in development and infrastructure, and this was achieved thanks to the strong and ambitious will of Prime Minister Mohammed Shia al-Sudani's government to improve the lives of Iraqis."

Al-Hassan continued, "We have great confidence in Iraq to draw a better future," calling on the Iraqi government to "continue working sincerely to improve services throughout Iraq.

Iraq is capable of overcoming challenges and regaining its regional and international standing." link

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

Tishwash:  International Report: 2025 will be the largest year for projects inside Iraq

The International Data Bank, one of the international organizations concerned with monitoring the internal affairs of the countries of the world, issued its annual report for the year 2024, accompanied by estimates for the coming year 2025, confirming that the current year witnessed the issuance of the largest number of investment and service contracts inside Iraq. 

The bank said, according to its report, which was translated by "Baghdad Today", that "Iraq spent $83 billion during the year 2024 on infrastructure and reconstruction projects, and awarded contracts to implement other projects during the year 2025 worth $126 billion," expecting that "this will lead to a doubling of the growth rate of the national GDP to about 4.1% during the next year."

The bank also explained that the largest projects were the share of the country's main roads for the Ministry of Transport, which are expected to be fully completed in 2029, noting also that oil investment projects and the construction of residential complexes in Baghdad, specifically (the integrated Nasiriyah oil project and the city of Al-Rufail in Baghdad) came in second and third place as the largest government projects for the year 2024. 

The information issued by the World Bank also confirmed that the contracts awarded for the coming year were distributed as follows (39.9% allocated to construction, 39.9% allocated to energy and industry, 24.3% allocated to electricity and water service projects, while 22.6% was allocated to road and transportation projects). link

Tishwash:  Starting to implement ASYCUDA global system for automating customs operations

The Prime Minister's Media Office announced on Tuesday the start of using modern automation systems to facilitate the entry of goods into border crossings and monitor them centrally, and the agreement to implement the global ASYCUDA system to automate customs operations.

The office said in a statement, seen by "Al-Eqtisad News", that "in implementation of the directives of Prime Minister Mohammed Shia Al-Sudani regarding administrative and financial reform, which is included among the priorities of the government program, a special meeting was held today in the Prime Minister's Office headed by the Prime Minister's Advisor for Border Customs and Ports Affairs, where the procedures related to the governance of border ports and customs systems were discussed."

The statement added that "the meeting witnessed the announcement of the completion of the necessary infrastructure to link all border ports with the latest technologies, and the start of the use of modern automation systems to facilitate the entry of goods into border ports and monitor them centrally. It was also agreed to implement the global ASYCUDA system for automating customs operations, enhanced with electronic payment services starting from January 1, 2025."

He pointed out that "this step will contribute to achieving automation in ministries and institutions, including the e-government project and providing electronic payment services, which contributes to enhancing transparency and accountability, simplifying procedures, facilitating services and reducing bureaucratic obstacles, in addition to establishing good governance and combating corruption." link

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

Mot:  Finally Made sum - Realistic Resolutions

Mot: .. good ole ""Earl"" to the Rescue!!!

Iraq Economic News and Points to Ponder Monday Afternoon 12-30-24

The Collapse Of Monetary Policy In Iraq.. Investment In Banks Is Almost Non-Existent And The Central Bank Is Going Against The Grain
 
Economy | Today, 12:13 |  Baghdad today – Baghdad  Financial and economic expert Mustafa Akram Hantoush commented today, Tuesday (December 31, 2024), on the performance of the Central Bank of Iraq for the current year.

 
Hantoush said in an interview with "Baghdad Today",
 
"The reality of monetary policies in Iraq is heading in the opposite direction to the process of building monetary policies, and there have been problems for years that have led to a clear collapse in Iraqi monetary policies."
 
He added, "For years, the banking system has been subjected to near annihilation. 32 banks are subject to sanctions, and the rest are banned from receiving the dollar only in specific currencies, and the mechanism is still unclear."
 
He pointed out that "there are more than 70 Iraqi banks without lending, because the central bank did not establish a clear lending policy of loans, categories, and guarantees."
 
He continued, “The policy of attracting deposits is more than 80 to 85% of the currency issued by the Central Bank, and it does not appear in the monthly transactions in the monthly banking system, so this currency is supposed to be offered as marketing deposits, so the banking system does not enter into this process,” indicating that “The investment policy of the Iraqi Bank is almost non-existent.”
 
Hantoush explained that the policy of investment banking operations is not specific in direction, and the remittance policy also has a problem with the cancellation of the platform, “so I see a clear collapse in Iraqi monetary policies.”
 
Hantoush called on the Central Bank to reform its monetary policy, set new standards for developing the Islamic banking system, and go further to keep pace with the requirements of the current and future economic stage.    
  
https://baghdadtoday.news/264928-انهيار-السياسية-النقدية-في-العراق.-الاستثمار-في-المصارف-شبه-معدوم-والبنك-المركزي-يسير-عكس-التيار.html

The Central Bank Decides To Stop Withdrawals And Deposits (Document)
 
Sweeteners     2024-12-31 | 11:52  Source:  Alsumaria News     5,252 views  The Central Bank of Iraq decided, on Tuesday, to stop withdrawals and deposits for a period of four days.  According to a document, the bank decided to close its doors on January 2, 2025 and stop conducting banking transactions for customers.
 
The bank also decided to stop withdrawals and deposits on savings accounts in bank branches for the period from 12/30/2024 to 1/2/2025 for the purpose of completing annual budgets.
 
Below is the text of the document  
 
https://www.alsumaria.tv/uploadImages/ExtImages/Images1/ExtImage-7471324-690056192.jpg
  
' https://www.alsumaria.tv/news/localnews/511467/البنك-المركزي-يقرر-إيقاف-عمليات-السحب-والإيداع-وثيقة 

Integration Requirements
 
December 31, 2024   
    In order to speed up the procedures and complete the merger transactions for the exchange companies of categories (A and B) under establishment and all brokerage companies for buying and selling foreign currencies, please provide us with the attached merger requirements at once ..
For more, click here.    https://cbi.iq/static/uploads/up/file-173564321769246.pdf
  
https://cbi.iq/news/view/2754    
  
~~~~~~~~~~
 
[approximate and incomplete translation of https://cbi.iq/static/uploads/up/file-173564321769246.pdf 
 
DATE :   2024/12/27
 
Exchange companies for the two categories (A,B) under all establishment
 
Mediation companies by selling and selling all foreign currencies
 
M/ Integration requirements
 
In order to accelerate procedures and complete the completion of your companies’ integration.
 
Please provide us with the accompanying integration requirements, so that this directorate can proceed with this directorate.
 
Integration without delay or delay, as the delay in completing the requirements of integration will lead to the delay in granting you Nbfi.supervision@cbi.iq.
 
To abide by what was mentioned above.  With appreciation
 
For accompanying/ 
 
- Schedule of number (3) with integration requirements.
 
 A schedule with documents to be submitted for the purpose of integration and obtaining the final license
 
[three page table in Arabic listing required documents, followed by…] 
 
With the presentation that all the aforementioned forms are published on the website of the Central Bank of Iraq  On the link below:    https://cbi.iq/news/view/1223  

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

Insiders Dumping Stocks, Preparing For 2025 Reset? - Year-End Panel - Holter, Macleod, Schectman

Insiders Dumping Stocks, Preparing For 2025 Reset? - Year-End Panel - Holter, Macleod, Schectman

Liberty and Finance:  12-30-2024

In this 2024 year end panel discussion featuring Andy Schectman, Alasdair Macleod, and Bill Holter, the tone is starkly cautionary as they analyze the fragile state of global financial markets.

The conversation highlights a rapidly deteriorating situation where the dollar is on a "slippery slope" and market dynamics show, among the insiders, an overwhelming number of sellers compared to buyers.

Schectman, Macleod, and Holter point out that, while gold has made significant gains, investor enthusiasm remains low, with the public continuing to unload assets while institutional investors quietly buy.

They all agree that the real economy is slowing down, with the ominous possibility of a 2025 downturn resembling the Great Depression of 1929.

The trio also emphasizes the risks facing the banking system, which is attempting to de-risk itself, but is still vulnerable to a larger collapse.

INTERVIEW TIMELINE:

0:00 Intro

 2:41 2024 takeaways

8:30 Secret central bank gold buying

15:05 Insider selling

19:00 Global credit bubble

 30:45 Retail market update

 44:29 2025 look ahead

https://www.youtube.com/watch?v=rip2-Y3EJ1I

Iraq News Highlights and Points to Ponder Tuesday AM 12-31-24

Monetary Policy Collapses In Iraq.. Investment In Banks Is Almost Non-Existent And The Central Bank Is Going Against The Tide - Urgent

Economy |Today, Baghdad Today – Baghdad   Financial and economic expert Mustafa Akram Hantoush commented, today, Tuesday (December 31, 2024), on the performance of the Central Bank of Iraq for the current year.

Hantoush said in an interview with Baghdad Today, " The reality of monetary policies in Iraq is heading in the opposite direction to the process of building monetary policies, and there have been problems for years that have led to a clear collapse in Iraqi monetary policies."

He added, "The banking system has been subject to near-annihilation for years.  32 banks are subject to sanctions, and the rest are banned from the dollar only, in specific currencies, and the mechanism is still unclear."

He pointed out that "there are more than 70 Iraqi banks that do not lend, because the Central Bank has not set a clear lending policy in terms of loans, categories and guarantees."

He added that "the policy of attracting deposits of more than 80 to 85% of the currency issued by the Central Bank, and it does not appear in the monthly transactions in the monthly banking system, so this currency is supposed to be offered as marketing deposits, so the banking system does not enter into this process," indicating that "the Iraqi bank's investment policy is almost non-existent in its investments."

Hantoush explained that the investment banking operations policy is not defined in any direction, and the remittance policy also has a problem with the cancellation of the platform, "  therefore I see a clear collapse in Iraqi monetary policies."

Hantoush called on the Central Bank to reform its monetary policy, set new standards to develop the Islamic banking system and go beyond standards that keep pace with the requirements of the current and future economic stage.  LINK

Economist: Relying On Oil As A Source Of Revenue Will Have Serious Consequences

Today 10:29  Information/Baghdad...  Economic researcher Diaa Abdul Karim found that the primary reliance on oil exports as a main source of revenues and salaries will have serious consequences in the future.

Abdul Karim told Al-Maalouma, "The world's dependence on oil and its derivatives will gradually decline over time, especially with technological advancement and reliance on clean energy methods in many countries, in addition to the start of work on producing electric cars, as manufacturing countries have begun to resort to this option as an alternative to liquid fuel and its harm to the environment."

He added, "The dependence on oil and its derivatives will never stop, but it will decrease significantly over time. Therefore, the countries exporting oil need a strategy to save them from the decline in oil revenues."

He pointed out that "Iraq depends mainly on oil revenues to finance the budget and pay salaries, and this poses a threat to the country, especially with the rise and fall in oil prices, which requires governments to resort to other options to diversify the sources of the economy to avoid the global trend towards moving away from oil." End25  LINK

Customs: Our Revenues Increased By 128% During The Current Year

Faw Port   Money and business  Economy News – Baghdad  The General Authority of Customs revealed, on Monday, that its revenues increased by 128% during the current year compared to last year, while confirming that administrative reforms and the ASYCUDA system contributed to the increase.

Director of the General Authority of Customs, Ahmed Al-Akidi, said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "the revenues of the General Authority of Customs for the period from 1/1/2024 to 30/11/2024 amounted to one trillion and nine hundred billion dinars, compared to 892 billion dinars in 2023, with an increase rate of 128%."

He added that "administrative reforms, the ASYCUDA system, and simplification and facilitation of customs procedures contributed to increasing revenues."

 Al-Akidi explained that "the General Authority of Customs is working according to plans represented in a number of axes, including developing the competencies and skills of employees, in addition to completing the installation of the ASYCUDA system in customs centers that have not been automated," noting that "by the end of 2025, all customs centers will be automated."

He continued that "automation consists of multiple stages, the first stage is done by automating the centers, then linking with government departments within the country is considered the second stage, and the third stage is linking with the customs programs of neighboring countries." added 12/30/2024   https://economy-news.net/content.php?id=51450

Dinars Entering The Ministry Of Finance Are 20% Less Than The Amount It Needs.. Iraqis Start Their New Year With Salary Anxiety

Economy   2024-12-31 | 1,818 views  SumerianNews  More than 6 days have passed since the supposed date for the release of salariesStaffAs concerns grow over possible delay in pension paymentsIraqisAlso, their salaries will be due tomorrow.vacationNew Year's Eve

Iraqi employees usually receive their monthly salaries no later than the 25th to the 27th of the month, but the current month ended today, and there are still no indications of the possibility of disbursing salaries, as salaries were paid in “installments” for some categories, ministries and departments and not others, due to the lack of liquidity, i.e. the Ministry of Finance does not have the dinar.IraqiIn her closets.

This prompted the Ministry of Finance to issue a “denial” statement, but the denial, as it seems, is a denial of “the inability to release salaries,” not a denial of their delay, as the ministry said in a statement that “the information circulating on social media, which claims to apologize for the disbursement of salaries of employees,The StateThis month due to a lack of liquidity is completely incorrect and has no relation to reality.

She added: “We are fully committed to the process of financing employees’ salaries, as the Accounting Department has financed the salaries due to ministries, governorates and non-affiliated entities for the current month of December according to the schedules specified for each of them, and it is continuing its efforts to ensure the continuity of disbursing financial dues without any delay or interruption.”

It is clear that the ministry only denied “the inability to disburse salaries this month,” and did not deny the existence of a lack of liquidity or a delay in disbursing salaries.

Problems of delayed salary disbursement have begun to appear more than once during the past few months, with spending requirements increasing compared to the revenues entering the state. For example, current spending alone during the past ten months amounted to more than 91 trillion, excluding investment spending, i.e. an average of more than 9 trillion dinars per month that the Ministry of Finance needs to ensure current spending such as salaries and other mandatory requirements.

In contrast, Central Bank data shows that the Ministry of Finance sold the Central Bank only $4.4 billion last November, equivalent to 5.8 trillion dinars.

As for non-oil revenues, they average 1.4 trillion dinars Monthly according to the Ministry of Finance data, which means that the total non-oil and oil revenues resulting from selling the dollar to the Central Bank amount to 7.2 trillion dinars, while the required amount is more than 9 trillion dinars per month.

Accordingly, this means that there is a 20% deficit in the funds required for the mandatory monthly current expenditures, which makes the Ministry of Finance unable to collect all the funds at the same time in order to pay the salaries of all ministries at the same time as was the case previously, and it resorted to paying them in "installments", and whenever it has gradual liquidity.

Member of the Parliamentary Finance Committee Jamal Kojer says that the liquidity shortage crisis will continue in 2025, and if the price of a barrel of oil drops to $60, we will not be able to secure employees' salaries.   LINK 

With More Than 30 Billion Dollars... A Leap In The Projects Market In Iraq

2024-12-31 00:32  Shafaq News/ The English magazine "Med Projects" revealed that the projects market in Iraq rose to 8.6% in November.

The magazine said in a report it published and reviewed by Shafaq News Agency that Iraq witnessed a significant increase of 8.6 percent or $31.7 billion in the value of its market projects in November, ranking fourth after the UAE, Saudi Arabia and Iran.

She added that the increase in the value of projects in Iraq reflects the view that Baghdad has shifted its focus to rebuilding and modernizing the country's deteriorating infrastructure. LINK

Seeds of Wisdom RV and Economic Updates Tuesday Morning 12-31-24

Good Morning Dinar Recaps,

XRP, HBAR, XLM, AND OTHER UTILITY-BASED NETWORKS SHAPING THE FUTURE OF FINANCE

▪️XRP, Stellar, and Hedera are reshaping global finance and driving utility.

▪️These platforms are now gaining mass attention for their roles in various industries.

The adoption of utility-based protocols like Ripple’s linked XRP, Hedera (HBAR), and Stellar (XLM) is gaining momentum. According to entrepreneur and writer Max Avery, these networks are driving transformation in the global financial system.

The Role of Utility-Based Networks In Financial Systems

In a series of X posts, Avery highlighted the role of utility-based networks in the financial system. The analyst pointed out the contributions of experts like Hiromi Yamaoka, a former official at the IMF, in pursuit of an effective financial system.

According to Avery, Yamaoka has developed frameworks to promote collaboration between central banks and private firms.

This collaboration combines the technological efficiency of private companies with the trust and control of Central banks. Private companies like Constellation, Hedera, Stellar, and Ripple aim to innovate with programmable solutions. On the other hand, Central banks offer supervision and issue stable assets, such as Central Bank Digital Currencies (CBDCs).

"This is done by a joint effort. Central banks issue stable assets, like CBDCs, and provide oversight. Private entities, like Ripple, Stellar, Hedera, and Constellation, seek to innovate with programmable solutions. This partnership combines banks’ trust and control with private…"
— Max Avery (@realMaxAvery) December 29, 2024

XRP is a vital component of institutional finance as it allows instantaneous and cheaper cross-border payments. Additionally, it eliminates the need for pre-funded accounts and offers instantaneous currency bridging and on-demand liquidity.

Avery described the XRP Ledger (XRPL) as more than a payment system. He highlighted the blockchain’s function in tokenizing assets such as real estate and carbon credits. Moreover, the XRPL has a decentralized exchange for direct asset trading and possesses lightweight smart contracts via Hooks to expand its utility.

Also, XRPL distinguishes itself from other blockchains in terms of energy efficiency. Unlike Bitcoin mining, XRPL utilizes a consensus mechanism that’s faster, greener, and scalable. It demonstrates that innovation in finance is possible without compromising the environment, providing a sustainable way forward.

Like XRP, Stellar’s native token, XLM aims for financial inclusion. The network charges less for small transactions and supports scalable private CBDCs. At the same time, it helps the underbanked and enables global economic access.

Hedera, another popular utility-based network, is also shaping the future of financial systems. Hedera’s native asset, HBAR, enables low-cost, high-speed transactions and supports Decentralized Applications (dApps).

Additionally, HBAR is utilized for staking, which supports network governance and security. It provides an effective and scalable solution for a range of financial services.

Complementary Networks

Intriguingly, these networks are complementary to one another. For instance, while XRP transforms institutional finance, XLM ensures access for all. They address the entire financial spectrum, creating a complete solution for modern financial systems.

Meanwhile, the adoption of utility-based networks is gaining momentum. Specifically, Ripple’s partnerships with banks are growing, as CNF reported. This development highlights Ripple’s growing integration into the global financial system.

As regulation improves, Avery believes adoption will skyrocket.

Avery concluded that the future of utility is unfolding, contrary to some people’s opinions.

“These networks are leading the shift by blending their advanced technology with real-world utility. It’s the present, taking shape in real-time, whether people want to believe it or not,” he noted.

@ Newshounds News™

Source:  Crypto News Flash

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BRICS NEWS: 2 COUNTRIES SETTLE $37 BILLION TRADE IN LOCAL CURRENCIES

BRICS member Russia is aggressively pushing the de-dollarization agenda by making developing countries settle trade in local currencies. Russian President Vladimir Putin is convincing emerging economies to ditch the US dollar and push local currencies for cross-border transactions. The move will strengthen their native economies and give their local currencies a boost in the forex markets.

Russia is successfully bypassing US sanctions and keeping its economy afloat by making other countries ditch the US dollar. The development is hurting the US more as emerging economies as seriously considering advancing the de-dollarization initiative.

BRICS: Russia & Belarus Settle Trade Worth $37 Billion in Local Currencies

In 2024 alone, BRICS member Russia has settled trade worth $37 billion with Belarus using local currencies. The trade between the two nations surged 8.4% this year indicating that de-dollarization could soon be the norm. Developing countries are cutting ties with the US dollar and pushing local currencies to become the main source of all transactions.

The next few years could change the way the US operates the global financial order. BRICS is looking to create a paradigm shift with an alternate economy leaving the US behind. Local currencies could soon be accepted by like-minded countries who aim to topple the US dollar from the world’s reserve.

“Growing trade turnover indicators are clear evidence of the efficiency of the Russian-Belorussian integration. Alexander Grigoryevich (Belarus President) already shared his expectations for this year’s numbers. This forecast, I believe, is right on the money. According to our statistics, trade grew by 8.4% from January to September, topping $37 billion. By the end of the year, it will likely approach the figures President Lukashenko projected,” said Russian President Vladimir Putin.

@ Newshounds News™

Source:  Watcher Guru

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