Barreling Towards an Economic Crisis at Year-End Unless this Happens

Barreling Towards an Economic Crisis at Year-End Unless this Happens

David Lin:  1-19-2025

The global economic landscape is looking increasingly precarious, with renowned economist Steve Hanke, Professor of Applied Economics at Johns Hopkins University, raising alarm bells about a potential crisis brewing before year-end.

In a recent interview with David Lin, Hanke painted a stark picture, suggesting that without significant corrective action, the world economy could be headed for turbulent times.

Hanke’s analysis focuses on the shifts in economic policy and conditions since Donald Trump’s inauguration, citing several factors contributing to the current instability. While he didn’t detail specific policy failures in the provided information, the framing of the interview heavily implies a correlation between post-Trump economic developments and the current vulnerability.

While the specifics of what “must happen” to avoid the crisis were not detailed in the information provided, Hanke’s reputation as a leading economic thinker lends significant weight to his warnings.

His implication that an economic crisis is a real possibility unless action is taken should be a wake-up call for policymakers and the general public alike.

The interview leaves many questions unanswered, but the core message is clear: the clock is ticking, and unless a decisive shift in [again, areas like economic policy & regulations] occurs, we may be facing a very difficult year-end. The world will be watching anxiously for how governments and institutions respond to these stark warnings from a respected voice in the economic field.

https://youtu.be/FxuWGw5R_A8

Iraq Economic News and Points to Ponder Monday AM 1-20-25

Iraq Launches New Banknotes With Innovative Security Markings For The Visually Impaired

Economy breaking  2025-01-19 01:54   Shafaq News/ The Central Bank of Iraq unveiled the security marks for banknotes in circulation, with the aim of educating the public, as well as the companies and commercial banks that deal with these notes on a daily basis.

The Central Bank reviewed these improved security signs, through a technical bulletin, received by Shafaq News Agency, noting the introduction of prominent signs on the new banknotes to enable the visually impaired to recognize the denominations of bills by touch.

In the context of awareness, the bank indicated that the public will have sufficient time to adapt to the new banknotes, stressing the importance of sharing this information with those around them.

The Central Bank of Iraq confirmed that the new banknotes will be circulated alongside the old ones, and there will be no intention to withdraw the old banknotes from circulation.

The bank explained that its main objectives are to maintain the stability of local prices and ensure a financial system based on a stable competitive market. It also aims to promote sustainable growth, job opportunities, and prosperity in Iraq.

The Central Bank of Iraq reviewed the excellence of Iraqi banknotes, as they are among the most complex security marks, and were manufactured from the best types of paper used in printing banknotes to ensure quality and security.

The bank stressed that any attempt to manufacture, possess, or pass counterfeit banknotes is considered a criminal act and is severely punished by law, calling for any counterfeit banknotes to be handed over to the police and the Central Bank of Iraq.

The headquarters of the Central Bank of Iraq is located in the center of the capital, Baghdad, and it has three branches in the cities of Basra, Mosul, and Erbil within the Kurdistan Region.

https://media.shafaq.com/media/arcella_files/1737284012913_دليل الاوراق النقدية.pdf
   
   
https://shafaq.com/ar/اقتصـاد/العراق-يطرح-وراقا-نقدية-جديدة-بعلامات-منية-مبتكرة-لضعاف-البصر-صور    
   
~~~~~~~~~~

Read Below To See Affected Denominations And Security Features Explanations.

https://shafaq.com/ar/اقتصـاد/العراق-يطرح-وراقا-نقدية-جديدة-بعلامات-منية-مبتكرة-لضعاف-البصر-صور   

https://media.shafaq.com/media/arcella_files/1737284012913_دليل الاوراق النقدية.pdf

Shafaq News/ The Central Bank of Iraq has unveiled the security marks of the circulating banknotes, with the aim of educating the public, as well as companies and commercial banks that deal with these banknotes on a daily basis.

The Central Bank reviewed these improved security features, through a technical bulletin, which was received by Shafak News Agency, indicating the introduction of prominent features on the new banknotes to enable the visually impaired to identify the banknote denominations by touch.

In the context of awareness, the bank indicated that the public will have enough time to adapt to the new banknotes, stressing the importance of sharing this information with those around them.

The Central Bank of Iraq confirmed that the new banknotes will be circulated alongside the old ones, and there will be no intention to withdraw the old banknotes from circulation.

The bank explained that its main objectives are to maintain the stability of domestic prices and ensure a financial system based on a stable competitive market, and it also aims to promote sustainable growth, job opportunities, and prosperity in Iraq.

The Central Bank of Iraq reviewed the distinction of Iraqi banknotes, which are among the most complex security features, and are manufactured from the best types of paper used in printing banknotes to ensure quality and security.

The bank stressed that any attempt to manufacture, possess or pass counterfeit banknotes is a criminal act punishable by law, calling for any counterfeit banknotes to be handed over to the police and the Central Bank of Iraq.

The headquarters of the Central Bank of Iraq is located in the center of the capital, Baghdad, and it has three branches in the cities of Basra, Mosul, and Erbil within the Kurdistan Region

LINK

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

Seeds of Wisdom RV and Economic Updates Monday Morning 1-20-25

Good Morning Dinar Recaps,

INVESTOR CHRIS BURNISKE SEES CRYPTO ENTERING ‘GOLDILOCKS PERIOD’ AMID SUPPORT FROM INCOMING US ADMINISTRATION

Venture capitalist Chris Burniske believes crypto is about to enter uncharted territory as the United States welcomes a second Donald Trump presidency.

Burniske tells his 317,600 followers on the social media platform X that he thinks Bitcoin’s (BTC) four-year cycle may witness an abrupt end with the installment of a pro-crypto US government.

BTC’s four-year cycle is based on halving events when Bitcoin miner rewards are slashed in half every four years. In the past, halvings have correlated with parabolic rallies for Bitcoin as the reduction in new BTC emissions created an imbalance between supply and demand.

Says Burniske,

“Continue to believe there are high odds we break the simplistic four-year cycle that BTC has honored the last ~12 years…

With a supportive US administration, crypto could be entering a Goldilocks period over the next many years, where returns aren’t as parabolic, but instead we see steadier growth, not to mention majors stop suffering 85-95% drawdowns.”

In investing, a Goldilocks scenario is when an asset class sees moderate and sustainable growth over a long period of time.

Burniske also predicts market meltdowns that crypto investors have been accustomed to will likely be in the rearview mirror once digital assets enter Goldilocks territory. He believes that exchange-traded funds (ETFs) will support the steady rise of crypto assets while minimizing market drawdowns.

“On drawdowns: I’m not saying they’ll stop, I’m saying it’s possible they get less extreme for the majors, which could whiplash people who overtrade with too much aggression…

I also think BTC and ETH both having ETFs, and perhaps SOL+ soon, will provide more consistent buying pressure for these assets.”

While the investor believes in steady growth for large-cap coins, he notes that digital assets could still witness gut-wrenching corrections but they likely won’t be as severe as the ones seen in the past.

“If you ever want to see the percentage drawdown BTC could be exposed to, look at the 200-week SMA (simple moving average), which has been our most reliable technical support each bearish period. Right now at ~$40,000 that suggests a 60% drawdown is possible, which is a far cry from 80%+ (has to drop another 50% from 60% down, to hit 80% down). As BTC rises, so too will the 200-week SMA.”

Burniske concludes by saying that 2025 will likely be a “great year” for crypto investors.

@ Newshounds News™

Source:  DailyHodl

~~~~~~~~~

GOLD PRICES COULD HIT $3,000 IF TRUMP PUTS HIS THREATS TO WORK

Donald Trump took oath as the 47th President of the United States on Monday and will govern the nation for four years. Investors closely watch his statements, threats, and proposals on the U.S. economy and monetary policies. Gold prices hovered around the $2,707 mark when Trump took oath and surged nearly 5 points in the indices.

The precious metal remains on the greener side of the spectrum and is looking to gain another leg-up. Traders are hopeful that Trump’s upcoming trade wars could benefit gold prices, as institutions could park their funds to hedge the markets.

Trump’s Trade Tariffs Could Make Gold Reach $3,000

A leading commodity investor told Kitco News that gold prices could reach $3,000 if Trump sticks to his tariff threats. The markets could react strongly if the tariffs are imposed, as they could cause a trade imbalance between the U.S. and other countries.

Jesse Colombo, an independent precious metals analyst and founder of the BubbleBubble Report said that the short-term target for gold prices remains at $2,800. If Trump heats the import and export sector, gold’s price target remains a solid $3,000. He wrote that it could breach the mark during the second half of 2025.

“For the past two months, gold has been taking a breather, but now the market has a lot of pent-up energy. I’m excited about gold’s potential,” he said. The analyst explained that if Trump’s tariffs take place, consumers around the world will have to shell out more money for daily essentials.

“Gold’s significant resistance level remains $3,000 an ounce,“ he said, adding that a price rise ignited by Trump could lead to stagnation in the global markets. Therefore, investors need to closely watch Trump’s policies and invest widely based on the market trends. The XAU/USD could continue its rally in 2025 and remain in demand throughout the year.

@ Newshounds News™

Source:  Watcher Guru

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WHAT IS DEFAI? A BEGINNER'S GUIDE

Defai is a convergence of artificial intelligence and decentralized finance, poised to simplify on-chain tasks and unlock new opportunities.

This piece is a guest post by Blocmates. Blocmates is an invaluable crypto news and educational resource that offers clarity in the often complicated and jargon-filled crypto space. In this timely article, Blocmate’s Gaz explains this important emerging sector of AI x crypto. If you aren’t familiar with defai, or you don’t know exactly what it means, this article is for you.

Welcome to the Intersection of AI and Defi

AI agents are, at present, the only meta that seems to matter. They’ve been breathing fresh degeneracy into the crypto markets like nothing we have seen until this point in the cycle and stealing insane amounts of mindshare in the process.

Meanwhile, the fools who faded are forced to FUD away from the sidelines while the rest of us sift through the trenches to try and catch the next 100x mooner.

The open-sourced nature of this narrative means that things are moving at a pace that no single humanoid can possibly keep up with. This further proves the utility of these ever-awake, ever-watching robots — who are already outcompeting us mortals in every aspect of the crypto game.

It seems like very soon we simple homo sapiens will be forced into capitulation by our new AI overlords as we watch ourselves be replaced in pretty much every facet of life.

It is, however, not all bad news. At least not for us degens.

Within this agent meta will spring forth many sub-metas that we can attempt to gamble our way to freedom before the inevitable replacement occurs.

@ Newshounds News™

Read more:   Bitcoin News

~~~~~~~~~

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“Tidbits From TNT” Monday Morning 1-20-2025

TNT:

Tishwash:  The President of the Republic heads the participants.. Davos Forum Investment Dialogue and Confidence Building

The World Economic Forum in the Swiss resort of Davos, today, Monday, brings together major global leaders in the fields of economy, technology, politics and society, under the slogan “Cooperation for the Smart Age ”, and continues until January 24, to discuss current economic, technological and environmental issues and ways to find solutions for them.

3,000 prominent figures from more than 130 countries are participating, including many heads of state and government, including the President of the Republic of Iraq, Abdul Latif Jamal Rashid.

There will be strong representation from around the world, across sectors and geographies, to drive dialogue, build trust and catalyze sustainable solutions to common challenges.

The forum will witness the participation of more than 1,600 business leaders, including more than 900 senior CEOs and chairmen of the boards of directors of member companies and partners of the forum, in addition to more than 120 global innovators, technology pioneers and start-ups.

The Davos Forum focuses on five main areas: reimagining growth, industries in the smart age, investing in people, protecting the planet, and rebuilding trust. link

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Tishwash:  Prime Minister's Advisor: Electronic customs declaration prevents smuggling and limits corruption and bribery

 The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Saleh, confirmed today, Sunday, that the electronic customs declaration program prevents smuggling and limits corruption and bribery. While he explained that it facilitates accurate and rapid oversight and review, he pointed out that it reduces costs for importers.

Saleh said in an interview with the Iraqi News Agency, followed by "Al-Eqtisad News", that "the program for developing the electronic customs declaration and its entry into force is an important and positive step towards improving customs performance in particular and enhancing the efficiency of the Iraqi economy in general."

He added that "the adoption of this electronic program for customs declaration represents an important part of the reform efforts branching out from the government program in the field of e-governance and financial and economic reform, which aims to modernize administrative and financial systems, combat corruption, and raise the efficiency of Iraq's foreign trade,"

Noting that "this electronic system provides two important details in customs life in the development of customs policy applications in Iraq, as it is one of the important arms of financial policy in our country, which are: First, reducing human intervention in customs clearance operations, which reduces the opportunities for corruption and bribery."

He continued: “The second provides clear tracking of transactions, which facilitates effective, accurate and rapid customs control and review,” indicating that “the electronic customs declaration program will undoubtedly reduce the time required to complete customs declarations, in a way that supports the movement of trade and reduces the costs that fall on traders and importers. This change in the pattern of customs declarations encourages companies to import and export goods with ease and high speed.”

He explained, "As for customs revenues, the program will contribute to providing accuracy in collecting customs duties in a way that prevents customs evasion, as taxes are a form of important public revenues that the government program seeks to raise within non-oil revenues, in addition to reducing losses resulting from corruption or negligence in collecting related customs duties and taxes, as was previously followed, using manual methods and human intervention."

He pointed out that "the business environment in the national economy gives an advanced signal to investors and traders, and its precise operations should be positively reflected in the reports of multilateral international organizations within the framework of the progress of the business environment in our country, including the World Bank's periodic reports in this regard  link

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Tishwash:  Al-Nusairi: Banks are the lever of sustainable development

Economic and banking advisor Samir Al-Nusairi confirmed, on Sunday, the completion of the Central Bank’s procedures for implementing the goals and initiatives of its third strategy 2024-2026, which is concerned with developing and restructuring the banking sector in accordance with what the consulting and auditing companies that are currently cooperating with the Central Bank and with the government in this field have reached, and that it should not be limited to support, but rather go beyond that to include the banking sector in making economic, financial, banking and investment decisions.

Al-Nusairi spoke about the challenges of the Iraqi economy and the opportunities for reform of the banking sector in the government’s program and the prospects of the Central Bank’s future vision for the role of the banking sector in sustainable development.

In light of the efforts currently being made to activate and revolutionize the productive economic sectors other than oil to diversify sources of national income and achieve financial sustainability, and the role of the Central Bank in regulating foreign trade financing and completing infrastructure projects to achieve comprehensive digital transformation and expand the use of electronic payment tools in achieving financial inclusion.

He explained that the opportunities for reforming and developing the banking sector in 2025 are as follows:

1- Developing the Iraqi banking system and its compliance with international banking and accounting standards.

2- Enhancing citizens’ confidence in the banking sector locally and internationally recognizing its transparency, progress, and strict commitment to international standards and obtaining the confidence of solid correspondent banks to deal with it.

3- Converting banks to their primary function, which is financing and bank lending for development.

4- Banks that do not provide loans and banking facilities that help in development as a lever for sustainable development lose their meaning as banks, which requires a specific position towards them from the Central Bank in 2025.

5- Seeking to move from a cash economy to a digital economy and withdrawing money outside the banking cycle and introducing it into the banking system.

He pointed out that all the above goals, although the period specified for their implementation according to the timetable of the government program and the strategy of the Central Bank ranges between (1-4 years), what was achieved in 2023 and 2024 constitutes about 60% as announced, which led to the evaluation and classification of banks based on their achievement of the planned goals. There are banks that are moving towards the required development and banks that still need an additional period of time to achieve the goals, and there are troubled banks that are now making exceptional efforts from the Central Bank and the administrations of these banks to rehabilitate them.

He added that what concerns us here is the real functional role of banks in providing loans and banking facilities and moving from a banking role to a developmental role. There are two important observations that must be taken into consideration regarding the issue of providing loans and banking facilities to stimulate the economy and development. The first: The nature of banks’ activities depends on the nature of the activities of the economic sectors, and as long as economic activity is focused on trade (imports), banks’ activity remains focused on external transfers and what is related to that, so unless other sectors move (industry, agriculture, tourism, etc.).

It is worth noting that without controlling imports, these sectors will not develop. Second: It is necessary to provide the legal environment and extend the authority of the law in order to control the speculation market in the US dollar on the black market and to eliminate the phenomenon of illegal trade through unofficial outlets.  link

**********

Mot:  the List Grows as Ya Season - it Does!!! 

Mot: . UH OH !!!!!! 

MilitiaMan & Crew Iraq Dinar News-Corruption $5 Billion Halbousi-New Currency Notes-Cash Economy-WB-WTO-24 Budget

MilitiaMan & Crew Iraq Dinar News-Corruption $5 Billion Halbousi-New Currency Notes-Cash Economy-WB-WTO-24 Budget

1-19-2025

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=IvcG7J35O0k

Iraq Economic News and Points to Ponder Sunday Afternoon 1-19-25

The President Of The Republic Heads To Switzerland Tomorrow To Participate In The Meetings Of The World Economic Forum In Davos

Sunday 19 January 2025 17:20 | PoliticsNumber of readings: 222   Baghdad/ NINA / President of the Republic Abdul Latif Jamal Rashid will head to Switzerland tomorrow to participate in the World Economic Forum meetings in Davos./  https://ninanews.com/Website/News/Details?Key=1180927

Central Bank Of Iraq: 95% Of Dollar Sales To Boost Foreign Balances

01/19/2025  Mawazine News – Economy   The Central Bank of Iraq revealed, on Sunday, that foreign remittances constituted more than 95% of its daily sales, with the participation of 6 banks and 19 exchange companies.

According to a statement issued by the bank, its sales in today's auction amounted to 281 million, 623 thousand, and 107 dollars, at a basic exchange rate of 1310 dinars per dollar for documentary credits and international settlements for electronic cards, and 1310 dinars per dollar for foreign remittances, while cash dollars were sold at 1305 dinars per dollar.

The bank indicated that most of the sales, worth 269 million, 823 thousand, and 107 dollars (equivalent to 95.91%), were allocated to strengthening foreign balances through remittances and credits, compared to cash withdrawals, which amounted to only 11 million and 800 thousand dollars.

With regard to the participating banks, the number of banks that purchased cash dollars was only one bank, while 5 banks met requests to strengthen balances abroad.  19 exchange companies also participated in the daily auction.   https://www.mawazin.net/Details.aspx?jimare=258782

Relative Stability Of The Dollar Exchange Rate In The Markets Of Baghdad And Erbil

 01/19/2025  Mawazine News – Economy  The dollar prices stabilized in the markets of the capital Baghdad, while they witnessed a decrease in Erbil, the capital of the Kurdistan Region, with the closing of the stock exchanges on Sunday.

The dollar prices remained stable in the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 150,650 dinars per 100 dollars, the same prices recorded this morning.

Exchange rates also stabilized in the local markets in Baghdad, where the selling price reached 151,750 dinars per 100 dollars, and the buying price reached 149,750 dinars per 100 dollars.

As for Erbil, the dollar prices recorded a decrease, where the selling price reached 150,000 dinars per 100 dollars, while the buying price reached 149,900 dinars per 100 US dollars. https://www.mawazin.net/Details.aspx?jimare=258781

Gold Prices Stabilize In Baghdad

Stock Exchange  Economy News – Baghdad   The prices of "foreign and Iraqi" gold stabilized in the local markets in the capital, Baghdad, today, Sunday, (January 19, 2025).

Gold prices in the wholesale markets on Al-Nahr Street in the capital, Baghdad, this morning recorded a selling price for one mithqal of 21 karat Gulf, Turkish and European gold of 577 thousand dinars, and a purchase price of 573 thousand dinars.

The selling price of one mithqal of 21-karat Iraqi gold reached 547 thousand dinars, and the purchase price was 543 thousand.

As for gold prices in goldsmiths’ shops, the selling price of a mithqal of 21-karat Gulf gold ranges between 580,000 and 590,000 dinars, while the selling price of a mithqal of Iraqi gold ranges between 550,000 and 560,000 dinars.   https://economy-news.net/content.php?id=52080

Iraq's Oil Exports To America Decline During The Week

Energy   The US Energy Information Administration announced today, Sunday, that Iraq's oil exports to the United States of America decreased during the past week.

The administration said in a table seen by "Al-Eqtisad News" that "the average US imports of crude oil during the past week from 10 major countries amounted to 5.964 million barrels per day, down by 322 thousand barrels per day from the previous week, which amounted to 6.016 million barrels per day."

She added that "Iraq's oil exports to America amounted to 152 thousand barrels per day last week, down by 28 thousand barrels per day from the previous week, which amounted to 180 thousand barrels per day."

The administration also indicated that "the largest oil revenues for America during the past week came from Canada at a rate of 3.985 million barrels per day, followed by Mexico at an average of 362 thousand barrels per day, followed by Saudi Arabia at an average of 333 thousand barrels per day, and from Colombia at an average of 262 thousand barrels per day."

According to the table, "the amount of US imports of crude oil from Venezuela was 240 thousand barrels per day, from Brazil it was 129 thousand barrels per day, from Ecuador it was 103 thousand barrels per day, and from Libya it was 86 thousand barrels per day https://economy-news.net/content.php?id=52078

l-Nusairi: Banks Are The Lever Of Sustainable Development

Banks  Economy News – Baghdad   Economic and banking advisor Samir Al-Nusairi confirmed, on Sunday, the completion of the Central Bank’s procedures for implementing the goals and initiatives of its third strategy 2024-2026, which is concerned with developing and restructuring the banking sector in accordance with what the consulting and auditing companies that are currently cooperating with the Central Bank and with the government in this field have reached, and that it should not be limited to support, but rather go beyond that to include the banking sector in making economic, financial, banking and investment decisions.

Al-Nusairi spoke about the challenges of the Iraqi economy and the opportunities for reform of the banking sector in the government’s program and the prospects of the Central Bank’s future vision for the role of the banking sector in sustainable development.

 In light of the efforts currently being made to activate and revolutionize the productive economic sectors other than oil to diversify sources of national income and achieve financial sustainability, and the role of the Central Bank in regulating foreign trade financing and completing infrastructure projects to achieve comprehensive digital transformation and expand the use of electronic payment tools in achieving financial inclusion.

He explained that the opportunities for reforming and developing the banking sector in 2025 are as follows:

1- Developing the Iraqi banking system and its compliance with international banking and accounting standards.

2- Enhancing citizens’ confidence in the banking sector locally and internationally recognizing its transparency, progress, and strict commitment to international standards and obtaining the confidence of solid correspondent banks to deal with it.

3- Converting banks to their primary function, which is financing and bank lending for development.

4- Banks that do not provide loans and banking facilities that help in development as a lever for sustainable development lose their meaning as banks, which requires a specific position towards them from the Central Bank in 2025.

5- Seeking to move from a cash economy to a digital economy and withdrawing money outside the banking cycle and introducing it into the banking system.

He pointed out that all the above goals, although the period specified for their implementation according to the timetable of the government program and the strategy of the Central Bank ranges between (1-4 years), what was achieved in 2023 and 2024 constitutes about 60% as announced, which led to the evaluation and classification of banks based on their achievement of the planned goals.

There are banks that are moving towards the required development and banks that still need an additional period of time to achieve the goals, and there are troubled banks that are now making exceptional efforts from the Central Bank and the administrations of these banks to rehabilitate them.

He added that what concerns us here is the real functional role of banks in providing loans and banking facilities and moving from a banking role to a developmental role. There are two important observations that must be taken into consideration regarding the issue of providing loans and banking facilities to stimulate the economy and development.

The first: The nature of banks’ activities depends on the nature of the activities of the economic sectors, and as long as economic activity is focused on trade (imports), banks’ activity remains focused on external transfers and what is related to that, so unless other sectors move (industry, agriculture, tourism, etc.).

It is worth noting that without controlling imports, these sectors will not develop. Second: It is necessary to provide the legal environment and extend the authority of the law in order to control the speculation market in the US dollar on the black market and to eliminate the phenomenon of illegal trade through unofficial outlets.   https://economy-news.net/content.php?id=52082

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

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 1-19-25

Good Afternoon Dinar Recaps,

INSIDE TRUMP’S CRYPTO VISION: NATIONAL BITCOIN RESERVE AND EXECUTIVE ORDER IN THE WORKS

President-elect Donald Trump is considering issuing an executive order that makes cryptocurrency a national priority.

President-elect Donald Trump is considering issuing an executive order that makes cryptocurrency a national priority in his return to the White House, Bloomberg said Thursday, noting sources with insights into the plans.

The planned designation would encourage federal agencies to engage with the cryptocurrency industry, which has grown as one of major issues over the latest presidential cycle.

One of the most noteworthy points reportedly under discussion is the review of digital asset policies and potentially suspension of legal actions targeting high-profile companies like Coinbase and Ripple.

Trump is Here…

Under the current administration, the Securities and Exchange Commission (SEC), a key regulatory body for the crypto industry, has initiated over 100 enforcement actions against digital asset firms in the US.

These actions come despite ambiguous regulatory frameworks, prompting several companies to exit the market. The industry sees halting these legal actions as a top priority, as ongoing litigation has caused uncertainty and challenges for those operating in the crypto space.

According to a recent report from Reuters, the SEC is likely to review and possibly freeze litigation involving crypto firms that does not include fraud allegations following Trump’s inauguration.

The change, which may come with the expected leadership overhaul at the SEC, potentially affects existing securities law violation cases against crypto companies.

The executive order will also likely order the establishment of a crypto advisory council, a Trump-proposed body dedicated to advising the administration on crypto-related policy matters. The council is aimed at giving industry insiders a platform to voice their concerns, priorities, and recommendations directly to policymakers.

Trump’s team has been in discussions with crypto executives to shape these policies. David Sacks, appointed as Trump’s AI and crypto czar, has reportedly been working closely with industry leaders to develop a legislative agenda for the industry.

Nation Bitcoin Reserve Proposal under Consideration

One of the most anticipated proposals under discussion is the establishment of a US Bitcoin reserve, which may be included in the executive order on day one. Trump has pledged to create a national Bitcoin stockpile if elected.

While it’s still unclear how a Bitcoin reserve under Trump would look like, experts caution that implementing it through an executive order does not assure its lasting existence.

According to the New York Digital Investment Group (NYDIG), a Bitcoin reserve established through legislative action, like the BITCOIN Act, would have a better chance of enduring beyond any single administration, though the process to make it law could be lengthy.

The US government currently holds 198,109 BTC seized from the notorious Silk Road crackdown. At a current price of $101,000, the Bitcoin stash is worth over $20 billion. If Trump proceeds with the Bitcoin reserve plan, the Bitcoin holdings would be added to the strategic asset for the nation.

Advocates believe that establishing a Bitcoin reserve could alleviate national debt and enhance America’s economic position if cryptocurrencies gain global prominence.

Altcoin Reserve Speculation

The New York Post reported Thursday that there may be more than just a Bitcoin national stockpile.

Trump has held several meetings with industry leaders and project founders since his election victory. The President-elect is reported to have been “receptive” to the concept of making a strategic reserve that incorporates the U.S.-originated altcoins like Solana (SOL), Ripple (XRP), and USD Coin (USDC).

Companies behind these projects have yet to comment on this matter, but crypto figures and community members see the altcoin reserve as a step back. David Bailey, BTC Inc CEO, outright rejects the idea as “fake news” and labels XRP “Kamala coin.”

Almeida, co-founder of Orquestra, expresses strong disappointment, suggesting that the move would severely damage the credibility of whoever made the decision, while Mike Dudas, The Block’s co-founder, says the idea is incredibly foolish and disastrous.

@ Newshounds News™

Source:  Blockonomi

~~~~~~~~~

CRYPTO.COM EXCHANGE SECURES ‘IN-PRINCIPLE’ MICA LICENSE, PAVING THE WAY FOR FULL EUROPEAN UNION APPROVAL

The Singapore-based exchange Crypto.com has secured an “in-principle” license to operate under the European Union’s new digital asset regulatory framework.

Crypto.com bills itself as the “first major global crypto asset service provider” to receive a Markets in Crypto Assets (MiCA) approval.

MiCA is new EU legislation that establishes rules covering the supervision, consumer protection and environmental safeguards of crypto assets.

The regulatory framework, which took effect in December, includes measures that aim to reduce financial crimes including market manipulation, money laundering and terrorist financing. It also places stablecoin issuers under the European Banking Authority and requires them to hold sufficient liquid reserves.

The in-principle license paves the way for full regulatory approval, which would enable Crypto.com to provide a full range of digital asset services across the EU.

Eric Anziani, the exchange’s president and chief operating officer, says the EU is “a growing and vital hub for crypto investment.”

“We have always been fully supportive of MiCA and strongly believe it will bring clarity, transparency, and establish a more streamlined sentiment towards the regulation of our industry across the EU, all of which adds to the building confidence in the crypto sector.”

The exchange also continues to expand its services in North America: Last month, Crypto.com announced plans to offer custody services for high-net-worth individuals and institutions in the US and Canada.

@ Newshounds News™

Source:  DailyHodl

~~~~~~~~~

XRP LAWSUIT NEWS: RIPPLE’S FIGHT WITH SEC FACES NEW TWIST AS TRUMP PROMOTES MEME COIN

As President-elect Donald Trump prepares to take office on Monday as the 47th president of the United States, he has made a surprising move by launching his own cryptocurrency, the $TRUMP coin.

Despite his previous hesitations about cryptocurrency, Trump had expressed his belief that America would become “the crypto capital of the planet” once he returned to Washington.

The timing of the launch has raised some eyebrows. Critics have accused Trump of capitalizing on his imminent presidency to profit from the popularity of cryptocurrencies, particularly meme coins.

However, some experts are focusing on how this move could have an impact on ongoing legal battles in the crypto space, particularly the high-profile lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission (SEC).

Ripple Lawsuit: Could Trump’s $TRUMP Coin Affect the Case?

Attorney Bill Morgan recently discussed the implications of Trump’s actions on the Ripple lawsuit. Morgan pointed out that the appeal of Judge Torres’ finding against Ripple’s fair notice defense is now looking more promising.

For context, the SEC has been pursuing legal action against Ripple, claiming that the company’s sale of XRP violated securities laws. However, Ripple argues that it had no clear notice that its sales of XRP were subject to SEC registration requirements.

Morgan drew attention to Trump’s stance on the issue of cryptocurrencies and investment contracts. While Trump has issued and promoted the $TRUMP meme coin, he does not believe that such tokens should be classified as investment contracts that require SEC registration.

This is a key issue in the Ripple lawsuit, where the SEC argues that XRP should be treated as a security, while Ripple maintains that it is a digital asset.

Given that Trump has issued a speculative meme coin without adhering to the traditional regulatory frameworks that the SEC enforces on other tokens, Morgan questioned how the SEC v. Ripple case could continue under these circumstances. He said that Ripple’s sales of XRP, like the promotion of $TRUMP, did not involve any post-sale obligations, which is a point of contention in the Ripple case.

@ Newshounds News™

Source:  Coinpedia

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BRICS NEWS: 2 COUNTRIES READY TO DITCH SWIFT AND LAUNCH NEW PAYMENT SYSTEM

BRICS members Russia and Iran want to abandon the Western-dominated payment messaging system SWIFT. The two countries aim to launch a new payment system as an alternative to the SWIFT mechanism. The sanctioned nations are working towards the formation of a new payment system that will completely get rid of the US dollar for cross-border trade and transactions.

SWIFT is controlled by the US making BRICS and other developing countries use the messaging system for financial transactions. The US dollar, Euro, and Pound are the most used currency for settlements around the world. Ending reliance on SWIFT will strengthen local currencies and become the de facto currency for trade.

BRICS: Russia & Iran Ready To Ditch SWIFT After Launching New Payment System

Russia is working closely with its BRICS counterpart Iran to ditch SWIFT and launch a new payment system for transactions.

Details on the formation of the payment mechanism are kept under wraps by the two nations. The work on the financial messaging channel remains confidential until further notice from Russia and Iran.

“The situation in banking and currency cooperation has significantly improved. At the moment, we are working on a confidential financial messaging channel to completely get rid of SWIFT.

 can call 2025 the year in which financial issues in Russian-Iranian relations will be resolved,” said Iranian Ambassador to Russia Kazem Jalali. Other BRICS countries could begin using the new payment system and end their dependency on SWIFT.

The development could usher into a new financial era between Russia and Iran and ditch the Western-dominated payment systems. The BRICS alliance could end up creating an alternative to SWIFT and convince other developing countries to use it. The US dollar will be the hardest-hit currency when the development plays out.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

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Here's How The Systemic Financial Crisis Goes Down | John Rubino

Here's How The Systemic Financial Crisis Goes Down | John Rubino

Liberty and Finance:  1-18-2025

John Rubino highlights the growing risks within the homeowners insurance sector, suggesting it could trigger a broader financial collapse.

 Insurance companies are struggling to stay profitable as natural disasters become more frequent and costly, while civil unrest adds further strain on property coverage.

 Rubino warns that the economy is fragile, over-leveraged, and could face a more severe recession than the last one. He argues that inflation is a significant policy error and the reverse wealth effect could slow economic growth.

Insurance, he concludes, is crucial for a stable economy, but current trends are jeopardizing its viability.

INTERVIEW TIMELINE:

0:00 Intro

01:55 The Role of Homeowners Insurance

05:10 Insurance Companies and Natural Disasters

09:54 Economic Implications of Insurance Risks

13:43 Civil Unrest and Its Impact on Insurance

 20:11 The Growing Cost of Natural Disasters

25:17 The Fragility of the Financial System

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

Iraq Economic News and Points to Ponder Late Saturday Evening 1-18-25

Iraq's Internal Debt Between Security Crises, Oil And The Pandemic

Time: 2025/01/18 10:46:25 Read: 1,495 times   {Economic: Al Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Salih, explained today, Saturday, that the roots of the increase in internal debt in Iraq go back to two stages over a decade.

The first stage was linked to the security/financial crisis that occurred during the war on ISIS terrorism, and the accompanying drop in oil prices to levels in which a barrel of oil lost about 60% of the value of its estimated revenues.

Saleh added in his statement to {Euphrates News} that “the impact of this decline was reflected in the revenues of the general budget, in which oil revenues constitute nearly 90% of the total revenues, and that the internal debt is from treasury transfers whose repayment period is one year with an average interest rate ranging between 4 to 5%, in addition to a small portion of other bonds with different repayment periods, all of which are issued by the Ministry of Finance, and followed exclusively by government banks in most cases.”

He pointed out that "the scene was repeated in the second phase, as the domestic debt increased again between 2020 and 2021 due to the financial crisis resulting from the decline in oil prices by almost the same percentage, which coincided with the Corona pandemic (Covid-19) crisis and the closure of the global economy, which was called at the time (the financial/health crisis)." LINK

Iraq Looks Forward To Enhancing Bilateral Cooperation Under The Next US Administration

Time: 2025/01/18 19:16:43 Read: 728 times   {Local: Al Furat News} Deputy Prime Minister and Minister of Foreign Affairs, Fuad Hussein, received today, Saturday, the new Chargé d'Affaires of the US Embassy in Baghdad, Daniel Rubinstein.

A statement by the Foreign Ministry, a copy of which was received by {Euphrates News}, stated that: “At the beginning of the meeting, Hussein offered his congratulations to Rubinstein on the occasion of his assuming his new duties, where he stressed the depth of Iraqi-American relations, while expressing Iraq’s aspiration to enhance bilateral cooperation under the next American administration.”

He added, "The meeting witnessed in-depth discussions on bilateral relations between the two countries, in addition to reviewing regional conditions, especially the situation in Syria. The two sides also touched on current political developments and the pivotal role played by Western countries, primarily the United States, in the course of events inside Syria."

He added, "The two parties also discussed the outcomes of the Riyadh Conference on Syria, which witnessed the participation of the US Under Secretary of State, and stressed the importance of following up on the recommendations that emerged from the conference."

At the end of the meeting, Hussein stressed "the importance of strengthening cooperation between Iraq and the United States in a way that serves common interests and contributes to achieving regional stability."  LINK

UN Representative Explores Nasiriyah Marshes on River Tour

Number of readings: 97 Saturday 18 January 2025 19:22 | Economic  Baghdad / NINA / The Special Representative of the Secretary-General of the United Nations in Iraq, Head of the United Nations Assistance Mission (UNAMI), Ambassador Mohammed Al-Hassan, conducted an exploratory river tour in the Nasiriyah marshes today, Saturday, accompanied by the Minister of Water Resources, Aoun Diab, and the dismissed Governor of Dhi Qar, Murtada Al-Ibrahimi. / End 5
https://ninanews.com/Website/News/Details?key=1180774

UN Representative Explores Nasiriyah Marshes On River Tour

Number of readings: 97 Saturday 18 January 2025 19:22 | Economic   Baghdad / NINA / The Special Representative of the Secretary-General of the United Nations in Iraq, Head of the United Nations Assistance Mission (UNAMI), Ambassador Mohammed Al-Hassan, conducted an exploratory river tour in the Nasiriyah marshes today, Saturday, accompanied by the Minister of Water Resources, Aoun Diab, and the dismissed Governor of Dhi Qar, Murtada Al-Ibrahimi. / End 5

https://ninanews.com/Website/News/Details?key=1180774

Basra Crude Records Weekly Gains Of $8.24

Economy  |Mawazine News – Baghdad  Basra crude prices recorded weekly gains of $8.24. The prices were as follows:

Basra Heavy crude closed down 95 cents at $78.43 in its last session, posting weekly gains of $8.24, or 11.74%. Basra Medium crude also closed down 95 cents at $81.68 in its last session, posting weekly gains of $4.92, or 6.41%.   https://www.mawazin.net/Details.aspx?jimare=258711

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

Seeds of Wisdom RV and Economic Updates Sunday Morning 1-19-25

Good Morning Dinar Recaps,

SENATOR INTRODUCES BILL TO CEMENT TEXAS AS THE FIRST STATE WITH A BITCOIN RESERVE

Texas aims to lead the digital revolution with a groundbreaking “Strategic Bitcoin Reserve Act,” securing economic resilience and innovation through state-managed bitcoin integration.

Texas Proposes Strategic Bitcoin Reserve to Revolutionize State Finances

Texas State Senator Charles Schwertner has introduced Senate Bill 778, known as the “Texas Strategic Bitcoin Reserve Act,” to establish a state-managed bitcoin reserve. Schwertner emphasized the significance of this initiative on social media platform X on Jan. 15, stating:

It’s time for Texas to lead the way in establishing a Strategic Bitcoin Reserve. That’s why I filed SB 778, which, if passed and signed into law, would make Texas the first state in the nation to establish a Strategic Bitcoin Reserve.

“This would position our state at the forefront of the digital economy, driving growth and securing economic freedom for our great state!” he added.

The bill outlines measures for the secure management of bitcoin within the state treasury, administered by the Texas Comptroller. Provisions include the use of “cold storage” for secure custody, regular audits, and policies ensuring transparency and best practices in digital asset management. Residents and organizations would be allowed to donate bitcoin to the reserve, with acknowledgment certificates available for contributors. 

The legislation highlights bitcoin’s potential to hedge against inflation, strengthen financial resilience, and foster innovation in digital finance. Regular reporting would keep the public informed of the reserve’s status and performance.

If enacted, the Texas Strategic Bitcoin Reserve Act would position the state as a leader in the digital economy. The bill also establishes protocols for bitcoin transactions, limiting them to emergency or legislative-approved scenarios to maintain oversight and accountability.

An advisory committee would provide recommendations on the reserve’s operations and security.

Senator Schwertner’s initiative underscores Texas’s vision of promoting economic freedom and growth through strategic digital asset integration. The act will take effect immediately with a two-thirds legislative vote or on Sept. 1 otherwise.

The push for state-level bitcoin reserves comes amid a broader trend of legislative interest in digital assets. President-elect Donald Trump has floated the idea of a national strategic bitcoin reserve, suggesting its potential to enhance U.S. financial leadership. Similarly, U.S. Senator Cynthia Lummis has proposed legislation to establish a strategic bitcoin reserve.

@ Newshounds News™

Source:  Bitcoin News

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WYOMING AND MASSACHUSETTS JOIN GROWING LIST OF STATES CONSIDERING BITCOIN RESERVES

State Bitcoin reserve momentum is still growing, while Coinbase backed the idea of a federal BTC stockpile for the first time publicly.

Wyoming and Massachusetts have joined the expanding number of U.S. states that may soon vote on establishing Bitcoin reserves, with representatives from both states submitting draft legislation supporting the initiative on Friday.

In Wyoming, a group of five Republican legislators submitted a bill that would permit the state treasurer to invest public funds in Bitcoin, but no other digital assets.

In recent weeks, other states have put forth slightly more permissive bills, which would in some cases allow states to invest in stablecoins and other cryptocurrencies that surpassed $500 billion in market capitalization—though as of this writing, Bitcoin is the only asset that meets that requirement.

Wyoming’s bill is also more restrictive in another regard: It would only permit its treasurer to invest 3% of a given state fund in Bitcoin. Proposed legislation in other states, such as Pennsylvania and Oklahoma, would allow for investments in digital assets to make up 10% of similar public funds.

Meanwhile, in deep blue Massachusetts, a lone Republican state senator proposed a bill on Friday proposing the establishment of a Bitcoin strategic reserve. 

That act, submitted by Peter Durant, is more permissive than Wyoming’s, and would allow for up to 10% of Massachusetts’ rainy day fund to be comprised of Bitcoin or any manner of digital asset.  

At this point, nearly one-fifth of all U.S. state legislatures are poised to soon formally weigh whether to invest public funds in Bitcoin and other cryptocurrencies. Every such proposal has been submitted in the aftermath of Donald Trump’s re-election in November, by Republicans.

Trump, long a crypto skeptic, abruptly changed tack on the campaign trail this year after being a noted Bitcoin critic in the past. In July, onstage at a Bitcoin conference in Nashville, he called for the federal government to establish its own Bitcoin stockpile.

The chorus for such initiatives is rapidly gaining momentum. On Friday afternoon, Coinbase CEO Brian Armstrong publicly called for the creation of a U.S. Bitcoin strategic reserve for the first time.

“The next global arms race will be in the digital economy, not space,” Armstrong said in a company blog post. “Bitcoin could be as foundational to the global economy as gold and will become central to national security in a world where holdings of Bitcoin can shift the balance of power among nation states.”

@ Newshounds News™

Source:  Decrypt

~~~~~~~~~

DORA REGULATIONS KICK IN: A NEW ERA FOR CRYPTO IN THE EU

Cryptocurrency firms operating in member states of the European Union will be required to beef up their cybersecurity and risk management as the economic bloc implements a new regulation.

EU authorities recently announced that the Digital Operational Resilience Act (DORA) took effect on January 17, a comprehensive and harmonized regional regulatory framework that will govern the digital operational resilience of financial institutions and crypto firms in member nations.

The New Regulation

EU authorities consider the DORA policy as a crucial step to enhance the digital operational resilience framework of financial institutions operating in the countries that are part of the regional bloc, saying that the new regulation aims to address the inconsistencies and gaps in the cyber risk management within the bloc.

The DORA regulation does not only apply to financial institutions and banks because it also covers crypto-asset service providers, insurance companies, investment firms, and management companies.

Cryptocurrency businesses in the European Union are subject to new cybersecurity regulations as DORA takes effect on January 17.

How Will It Impact VASP?

Analysts see that the cybersecurity and resilience practices of virtual asset service providers (VASP) in the European bloc will be greatly affected by the imposition of DORA.

Legal intelligence JD Supra stated that one of the provisions under the new EU rule is developing and reviewing ICT third-party risk management strategies such as having mandatory provisions in contracts with ICT service providers and “a registry of information documenting all existing contractual arrangements.”

This DORA provision would affect VASPs in the region because financial entities in the EU will be compelled to have a comprehensive register of their contractual arrangements with third-party IT service providers.

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

An official of the crypto exchange Gemini believes that DORA is essential to improve the financial sector’s operational resilience against ICT-related risks.

“In readiness for DORA, we have implemented a Digital Operational Resilience Strategy, an ICT risk management framework, ensured clear governance structures, and adopted best practices to ensure the continuity, security and resilience of our services,” Gemini head of Europe Mark Jennings explained.

Expanding MiCA Rule

Crypto analysts said that the new EU regulation is seen to expand the Markets in Crypto-Assets Regulation (MiCA), saying that the goal of DORA is to enhance the resiliency of crypto firms against disruptions and cyberattacks, protecting investors and boosting market integrity.

An executive of the crypto infrastructure firm MoonPay said that the new regulation would have a considerable impact on MiCA-licensed crypto companies.

“All crypto asset service providers licensed under MiCA are subject to the DORA requirements,” MoonPay’s deputy general counsel and head of Ireland Matt Sullivan said.

Sullivan revealed that their crypto infrastructure firm is already taking steps to become a DORA complaint entity. MoonPay got its MiCA license from the Dutch Authority for the Financial Market only last December 30, 2024.

A Challenge To Small Service Providers

Wormhole Foundation general counsel Cathy Yoon said that VASPs can deal with the provisions of DORA and have more likely implemented strict cybersecurity measures to maintain their compliance with the new regulation.

However, Yoon worried that startups and smaller service providers might find it difficult to get their DORA compliance.

“Taking a proactive approach to security and building out cybersecurity measures in line with DORA may have significant implications for smaller service providers, especially startups with limited capital to comply with DORA,” Yoon said.

@ Newshounds News™

Source:  Bitcoinist

~~~~~~~~~

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“Tidbits From TNT” Sunday Morning 1-19-2025

TNT:

Tishwash:  Parliamentary Finance to Nina: Parliament will first approve the amendment to the budget law, then its schedules

The Parliamentary Finance Committee confirmed that the Council of Representatives will first approve the draft amendment to the General Budget Law, followed by the approval of the budget schedules later.

Member of the committee, MP Moeen Al-Kazemi, stated to the National Iraqi News Agency / NINA / that "the draft amendment to the General Budget Law relates to resuming oil exports from the Kurdistan Region fields at a cost of $ 16 per barrel instead of $ 6, and this is within the jurisdiction of the Ministry of Oil and the Prime Minister's advisors," noting that "the Ministry of Finance is not aware of the technical details related to this."

He explained that "the Finance Committee sought to mature and clarify the feasibility of the draft amendment to the law to the representatives, in order to pass the amendment to the text of Article 12, Second C of the General Budget Law."

He added, "The texts of the three-year budget 2023-2024-2025 are completely fixed except for the text that the government submitted an amendment to, and therefore the government decided to wait for the House of Representatives to ratify Article 12, Second C, to enable it to calculate the cost required to extract and transport oil from the fields of the Kurdistan Region," indicating that "the House of Representatives will first ratify the draft amendment to the General Budget Law and then proceed to ratify the budget tables later."

The House of Representatives is scheduled to hold its regular session this afternoon, Sunday, and its agenda includes voting on the draft first amendment to the Federal General Budget Law for the fiscal years 2023-2024-2025 No. 13 of 2023. link

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Tishwash:  Iraq tells US it looks forward to strengthening cooperation with America under Trump

 On Saturday, Foreign Minister Fuad Hussein informed the United States of Iraq's aspiration to enhance bilateral cooperation under the upcoming US administration headed by Donald Trump.

This came during the Foreign Minister's reception of the new Chargé d'Affaires of the US Embassy in Baghdad, Daniel Rubinstein, according to a statement received by Shafaq News Agency.

At the beginning of the meeting, Hussein congratulated Rubinstein on assuming his new duties, and while stressing the depth of Iraqi-American relations, he expressed Iraq's aspiration to enhance bilateral cooperation under the next American administration.

The meeting witnessed in-depth discussions on bilateral relations between the two countries, in addition to reviewing regional conditions, especially the situation in Syria. The two sides also touched on current political developments and the pivotal role played by Western countries, primarily the United States, in the course of events inside Syria, according to the statement.

According to the Iraqi statement, the two parties discussed the outcomes of the Riyadh Conference on Syria, which witnessed the participation of the US Under Secretary of State, and stressed the importance of following up on the recommendations that emerged from the conference.

At the end of the meeting, Hussein stressed the importance of strengthening cooperation between Iraq and the United States, in a way that serves common interests and contributes to achieving regional stability  link

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Tishwash:  Iraq calls on the world to conduct a comprehensive reform of the financial system and a dialogue on technology governance

The representative of Iraq to the United Nations in New York, Abbas Kazim Obaid, in his capacity as Chairman of the Group of 77 and China, delivered the group’s statement during the session of the United Nations General Assembly in which the Secretary-General reviewed the priorities of his term for the year 2025, in light of the circumstances and challenges facing the international community.

In his statement, the representative of Iraq stressed the complex and interconnected global challenges, including ongoing conflicts, the effects of climate change, poverty, hunger, high debt levels, limited financing for the Sustainable Development Goals, and the growing digital divide. He stressed the need to support developing countries in financing sustainable development through the Fourth Conference on Financing for Development.

He called for a comprehensive reform of the global financial system to address structural inequalities, ensure equitable access to long-term finance, and advance sustainable development efforts.

He also stressed the importance of fully implementing the decisions of the Conference of the Parties on Climate Change, while supporting the Secretary-General’s efforts to achieve the Sustainable Development Goals by 2030.

Obaid also called for a comprehensive international governmental process to address the digital divide, the establishment of an independent scientific team for artificial intelligence, and the launch of a global dialogue on technology governance. link

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

Mot: Sitting in Grandpas chair  

Mot: ... so much to do!!!!  

Iraq Economic News and Points to Ponder Saturday Afternoon 1-18-25

An Economist Reveals The Secrets Of The Domestic Debt.. Will It Hit Banks And The Pension Fund?

Time: 2025/01/18 Read: 1,508 times  {Economic: Al Furat News} Economic expert, Salah Nouri, revealed the most prominent reasons for the rise in the internal public debt in Iraq.

Nouri told {Euphrates News} that "relying on financing the budget deficit through domestic debt instead of external debt is the main reason for the increase in domestic debt," explaining that "this approach directly affects the cash liquidity of government banks and the State Employees' Retirement Fund."

He added that "domestic debt, which relies heavily on government banks and the pension fund, reduces the ability of banks to invest in the private sector by lending to development projects, which weakens their role in supporting the economy. This situation also weakens the pension fund's ability to fulfill its financial obligations."

According to the expert's statement, "domestic debt can be positive if directed towards supporting local agricultural and industrial production, as this contributes to reducing imports in foreign currency (dollars) and strengthening the national economy."

Regarding reducing inflation, Nouri stressed that "there are several tools that can be used, most notably controlling the stability of the dollar exchange rate and diversifying revenues away from total reliance on oil, which is characterized by volatility in global markets."

He also stressed "the importance of reducing public spending in the budget, especially unnecessary spending, to achieve sustainable economic stability."  LINK

 Salary Disbursement Outlet Owners Respond To Central Bank Governor’s Statements By Announcing A Strike
Saturday 18 January 2025 09:00 | Economic Number of readings: 349  Baghdad / NINA / The owners of salary disbursement outlets announced a general strike throughout Iraq, starting from the twentieth of this month, in response to the statements of the Governor of the Central Bank, Ali Al-Alaq, in which he indicated that the outlets do not have an official license or permit to work and take unofficial commissions. /  https://ninanews.com/Website/News/Details?key=1180652

Dollar exchange rates fall in Baghdad, Erbil and Basra
Saturday 18 January 2025 11:00 | Economic Number of readings: 130

Baghdad / NINA / The dollar exchange rates witnessed a slight decrease today, Saturday, in the markets and exchange offices of the capital, Baghdad, Erbil and Basra.

The selling price of the dollar in Baghdad exchange offices was 151,750 dinars, and the purchase price was 150,000 dinars, for 100 dollars.

In Erbil, the selling price of the dollar was 151,750 dinars, and the purchase price was 150,000 dinars, for 100 dollars. / End   https://ninanews.com/Website/News/Details?key=1180690

The Central Bank Of Iraq Denies The Intention To Close Cash Delivery Outlets

Banks    The Central Bank of Iraq called for caution in transmitting and circulating news about the closure of exchange outlets, and confirms that no decision, directive or statement has been issued regarding the closure of outlets or their conversion into exchange companies.

The Central Bank said in a press statement that its recently issued statement stipulates expanding the spread of cash delivery outlets through all available channels, including ATMs, POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq.

The bank stressed the need to transmit news from its official sources, which are published on its official website and its verified social media pages.

He stressed that the Central Bank's circulars issued to all parties in the Iraqi financial and banking sector included directing banks and non-banking financial institutions to expand their financial services in areas that lack the aforementioned services.   https://economy-news.net/content.php?id=52055

Head Of The Security Media Cell: Iraq Is An Ideal Model For Tourism And Investment

Saray axis in old Baghdad  Local  Economy News – Baghdad  The head of the Security Media Cell, Major General Saad Maan, confirmed on Saturday that Iraq has become an ideal model for tourism and investment, noting that choosing Baghdad as the capital of tourism is a clear message that the capital is safe.

"In conjunction with choosing Baghdad as the capital of tourism, we confirm that the situation in the capital Baghdad and Iraq is completely safe," Maan said in a statement reported by the official news agency, and seen by "Al-Eqtisad News", indicating that "the factors of attraction for tourists are 100% available." He

added that "Iraq is an ideal model for tourism and investment," noting that "the government's communication with various segments and sectors is important to show the true image of the country."

He pointed out that "we attended today at the Syndicate of Journalists with the creators of purposeful content; to send messages of security and stability and to show the true positive reality of Iraq."

The Iraqi Journalists Syndicate launched, today, Saturday, the Association of Purposeful Content Creators in the Syndicate.

The official spokesman for the Journalists Syndicate, Mohammed Salam, said in a statement reported by the official news agency, and seen by "Al-Eqtisad News", that "the Syndicate today launched the Association of Purposeful Content Creators, and today it has become an integral part of the Syndicate and among the Syndicate's formations, and it will be the initiator of creating a real public opinion to defend Iraq and Iraqi society," noting that "this association is the adopter for the arrival of these celebrations or these Iraqi and national occasions to the world."  https://economy-news.net/content.php?id=52069

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

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 1-18-25

Good Afternoon Dinar Recaps,

RIPPLE EXEC MAKES BOLD 2025 STABLECOIN PREDICTION: DETAI

Jack McDonald, SVP of Stablecoin at Ripple, has made a bold prediction for the stablecoin market, declaring 2025 as "the year of the stablecoin." McDonald stated that as U.S. regulation advances, the stablecoin market will benefit from clearer guidelines and standards. 

This regulatory clarity is expected to foster greater trust, paving the way for broader adoption. The Ripple SVP expressed optimism that Ripple and its stablecoin, RLUSD, are well-positioned to lead the charge in this new era.

"2025 is the year of the stablecoin. As US regulation advances, standards will evolve, innovation will expand & real utility will take off. Ripple and RLUSD are ready to lead the charge," McDonald wrote in a recent tweet.

The stablecoin supply is increasing — currently boasting a market cap of nearly $216 billion and with projections of nearly $3 trillion within the next five years.

Ripple expands its horizons

While Ripple's enterprise blockchain solutions have grown to support a larger range of financial use cases, such as asset tokenization and custody, cross-border payments were the company's first application of blockchain technology.

Ripple Payments has processed more than $70 billion in payments to date, and the introduction of RLUSD adds another blockchain-powered payment option for cross-border transactions.

@ Newshounds News™

Source:  U Today

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$111,000,000,000 IN UNREALIZED LOSSES COULD HIT BANK OF AMERICA AS 10-YEAR TREASURY YIELD MOVES HIGHER: REPORT

Unrealized losses on Bank of America’s balance sheet are ballooning amid rising bond yields, according to a new report.

Bank of America’s unrealized losses on mostly US agency mortgage-backed securities could jump to $111 billion in the fourth quarter of 2024, an increase of 29% from the previous quarter, reports Barron’s.

Bank of America’s held-to-maturity assets stood at $568 billion as of the third quarter of 2024, according to a regulatory filing, including an unrealized loss of $86 billion at the time.

The bank’s unrealized losses continue to widen as the yield on 10-year US treasuries nears 5%.

And most of Bank of America’s held-to-maturity debt securities are comprised of agency mortgage-backed securities, which are witnessing similarly rising yields.

BofA’s unrealized bond losses are the highest in the industry. By comparison, the nation’s largest bank JPMorgan Chase has about $20 billion in unrealized losses as of Q3 2024.

In its Quarterly Banking Profile report issued in December, the Federal Deposit Insurance Corporation (FDIC) said the number of US lenders on its “Problem Bank List” rose to 68 in Q3, with total unrealized losses at all major banks standing at $364 billion.

@ Newshounds News™

Source:  DailyHodl

~~~~~~~~~

BRICS: ANALYST CALLS US DOLLAR ‘GROSSLY OVERVALUED’ & HERE’S WHY

The last two years have seen the global south orchestrate its very own de-dollarization initiative. Seeking to promote local currencies, was a way to combat the growing influence the West had on global finance. Although the greenback has maintained much of its strength amid BRICS action, one analyst has called the US dollar “grossly overvalued.”

The sentiment is tied to the overwhelming influence that the US dollar maintains. Currently, the state of Mississippi, the poorest state in the country, is richer per capita than either the United Kingdom or Japan. Although the reason for this reality can be debated, one economist notes it is likely due to the overwhelming overvaluation of the currency.

US Dollar Called ‘Overvalued’ by Economist: Can That Push BRICS De-Dollarization?

2025 was always set to be a vital year for the BRICS alliance. With US President-elect Donald Trump returning to the White House, things are bound to change. The alliance has struggled with ongoing Western sanctions and answered with their own de-dollarization efforts. Yet, the returning President, unlike his predecessor, appears less enthused to sit by and allow such efforts to take place.

To this point, those efforts have failed. Indeed, Trump’s return has pushed the world’s global reserve currency to tremendous heights. Yet, the reason for that has recently come into question. Amid BRICS opposition, one analyst has called the US dollar “grossly overvalued” in a recent report.

“The poorest state in the US—Mississippi—has a per capita dollar income that is higher than those of the UK, France, Italy, and Japan and is only slightly lower than Germany,” Stephen Jen of Eurizon SLJ said in a Financial Times piece.

“Does this make sense to you?” Jen added. “To us, this is another proof that the dollar is grossly overvalued, inflated in part due to the supersized fiscal program.” There is evidence for the claim throughout the US economy. Indeed, the report notes that many SU gas station managers earn more than European doctors.

Ultimately, Jen notes that the “US fiscal posture is unsustainable.” Indeed, it is going to require a massive initiative to bring down its deficit, or major problems will soon arise. The question is, can Trump and his incoming DOGE commission handle such a lofty task? However, what does this reality mean for the budding BRICS alliance?

@ Newshounds News™

Source:  Watcher Guru

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ECB IS LOOKING FORWARD TO 2025 WITH THE DEVELOPMENT OF THE DIGITAL EURO AND THE ACCOMPANYING EU LEGISLATION

Christine Lagarde, President of the European Central Bank (“ECB”), is expecting European legislation for the digital euro. According to her, the European Commission will propose legislation for establishing a digital euro in the near future.

“We are in the preparation phase and we are expecting European legislation,” she said in her New Year’s message.

On the first day of the new year, Lagarde posted a video message announcing that the development of the European Union’s central bank digital currency (“CBDC”) – the digital euro – was in phase 2 and the ECB is “expecting legislation.”  

“Another significant development on the horizon is our digital euro. We are in the preparation phase and we are expecting European legislation,” she said. “Once that is done, we will decide whether we move forward with developing a digital form of cash.”

Lagarde wished those who watched her video a “very, very great start to 2025.” Well, the ECB’s aspirations, as she described them, begin the year on a very, very bad note and in wishing Europeans well she is speaking with a forked tongue.  Take for example the two blatant lies Lagarde told in her message.

Firstly, they would not be legislating for a digital euro if they were not intending to “move forward” with the agenda.  So, it’s not a case of deciding “whether” to move forward but rather the decision has already been made.

Secondly, CBDCs are not a “digital form of cash.”  They are tokens which can be programmed to be used only for certain items or services and to expire – much like a gift voucher system which retailers use. 

Vouchers are for a specific amount to be used on specific items or in specific retailers and expire within a specified time; the retailer’s rules and conditions apply.  It is because of the programmable and centralised nature of CBDCs that they will be used to control who can buy or sell what, when and where; the central bank’s rules and conditions will apply.

Do You Trust Christine Lagarde?  If So, You Shouldn’t

Read more at link below to hear her video and find out who she is:
Convicted Criminal and Eugenicist and Depopulationist.

@ Newshounds News™

Source:  Expose News

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