Iraq Economic News and Points to Ponder Wednesday Afternoon 1-22-25

Expert: 70% Of Iraq's Remittances Are Controlled By Jordanian And Gulf Banks

Buratha News Agency992025-01-22  Economic expert Ahmed Abdel Rabbo confirmed today, Wednesday, that Jordanian and Gulf banks control more than 70% of financial transfers in Iraq, noting that the dollar is delivered to only four Jordanian and Gulf companies.

Abdul Rabbo said in a statement to / Al-Maalouma /, that "Jordanian banks did not provide any real services to Iraq," adding that "closing the dollar selling platform opened the way for Jordanian and foreign banks to take over the Iraqi financial market, which raised questions about the role of Iraqi financial institutions in this regard."

He pointed out that "Jordanian banks control more than 70% of financial transfers in Iraq," explaining that "this control constitutes a direct harm to Iraq's sovereignty and financial decisions, especially with the absence of any effective role for these banks in serving the Iraqi economy."

He called for "reviewing financial policies and strengthening the local role to ensure the stability of the country's financial sector."

Reports indicate that 8 Jordanian and Gulf banks control money transfer operations in Iraq, which led to these banks controlling the flow of dollars into the country. This control forced the exclusion of more than 1,000 Iraqi banks and offices, raising concerns about negative effects on the local economy and financial sovereignty.  https://burathanews.com/arabic/economic/455449

Exchange Rates Fall Against The Dinar In Baghdad And Erbil With The Closing

01/22/2025  Mawazine News – Economy  The US dollar exchange rate fell against the Iraqi dinar on Wednesday in the markets of Baghdad and Erbil, the capital of the Kurdistan Region, with the closing of the stock exchange.

The dollar exchange rate also fell with the closing of the two main stock exchanges in Baghdad, Al-Kifah and Al-Harithiya, to record 150.850 dinars per 100 dollars, while the dollar exchange rate this morning recorded 151.000 dinars per 100 dollars.

The selling prices in exchange shops in the local markets in Baghdad stabilized, where the selling price reached 152.000 dinars per 100 dollars, while the purchase price reached 150.000 dinars per 100 dollars.

In Erbil, the dollar also fell, where the selling price reached 150.700 dinars per 100 dollars, and the purchase price reached 150.600 dinars per 100 dollars  https://www.mawazin.net/Details.aspx?jimare=258898

Gold Soars To 11-Week High Amid Weak Dollar

01/22/2025   Mawazine News – Baghdad  Gold prices rose to an 11-week high in early Asian trading on Wednesday, supported by a weaker dollar and increased demand for safe havens due to uncertainty surrounding U.S. President Donald Trump's trade policies.

Price Update Spot gold was up 0.1 percent at $2,748.58 per ounce by 0105 GMT, after hitting its highest since Nov. 5 earlier in the session. U.S. gold futures were up 0.1 percent at $2,763.40, according to Reuters data. Trump declined to impose tariffs on his first day in office, pushing the dollar lower. A weaker dollar makes gold more attractive to foreign buyers. Gold is considered a safe-haven investment during economic and geopolitical uncertainty.https://www.mawazin.net/Details.aspx?jimare=258872

Al-Sudani Issues Directive To Ministries Concerned With The "Development Path"

Construction and reconstruction   Economy News – Baghdad  Today, Wednesday, Iraqi Prime Minister Mohammed Shia Al-Sudani directed the state ministries and institutions concerned with the Development Road Project to submit their data to Oliver Wyman Company, in order to prepare an integrated vision for the project.

This came during his chairmanship of the first periodic meeting of the year for the Higher Committee for the Development Road Project, in the presence of representatives of Oliver Wyman Company, which is concerned with providing consulting services for the project, according to a statement issued by his office.

Al-Sudani was briefed on the latest procedures related to the development road project and the stages of completion of the five projects of the Grand Faw Port, stressing the need to address the challenges facing the implementation of these projects quickly to ensure adherence to the specified timetables.

The Prime Minister also listened to a detailed presentation by the consulting company on the economic model for the Development Road Project, stressing the importance of keeping pace with the latest developments in the field of modern technologies and techniques.

The meeting also witnessed a review of the security plan for the project, in addition to presenting the results of the last quadripartite ministerial meeting held to discuss the development road project in the presence of the transport ministers from Iraq, the UAE, Turkey and Qatar. https://economy-news.net/content.php?id=52198

Industry Announces The Start Of Work On The Electronic Trademark Registration System

Ministry of Industry and Minerals  Money and business  Economy News – Baghdad  The Ministry of Industry and Minerals announced, on Wednesday, the launch of the electronic trademark registration system, while indicating that the system will contribute to shortening time, accelerating procedures, and reducing errors.

The ministry's spokeswoman, Dhuha Al-Jubouri, said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "in implementation of the government program and after the Minister of Industry and Minerals, Khaled Battal Al-Najm, announced the start of work on the electronic registration system for trademarks through the Ur electronic portal for government services and to simplify procedures, all beneficiaries of the services of the Trademark and Commercial Data Registration Directorate must use the electronic system and abandon paper work,

" calling on "all satellite channels to register the name of each satellite channel in the Trademark Registration Directorate to guarantee the rights to the name and logo of each satellite channel."

She added that "the ministry has taken its first steps towards digital transformation by completing the digitization of 100,000 files through intensive self-efforts with the use of artificial intelligence and according to specific technical mechanisms and solutions to reach an accurate image of the trademark and then move to electronic examination of the trademark."

She pointed out that "this matter will contribute to shortening time, accelerating procedures and reducing errors."    https://economy-news.net/content.php?id=52205

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

Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 1-22-25

Good Afternoon Dinar Recaps,

BRICS: 40 COUNTRIES LOOK TO DITCH THE US DOLLAR

BRICS member China is looking to convince 40 new countries to use the Chinese yuan for cross-border transactions and not the US dollar. The Communist country is aiming to capitalize on the growing de-dollarization trend and is pushing the Chinese yuan for trade.

For the uninitiated, the usage of the Chinese yuan for trade settlements has surged 4.6% in 2024, compared to 2% in 2019. The currency usage has more than doubled in six years and is threatening the prospects of the US dollar.

If the US fails to import the dollar overseas, it would return to the homeland leading to inflation. Therefore, the USD needs to maintain its top position in the currency markets to sustain the American economy and keep prices lower.

BRICS: CHINA SIGNING AGREEMENTS WITH 40 COUNTRIES TO USE THE CHINESE YUAN, NOT US DOLLAR

The People’s Bank of China (PBOC) has signed bilateral trade deals with over 40 countries to use the Chinese yuan for trade settlements. The trade agreement is with the central banks of developing countries and initiates currency swaps.

The overall scale of the currency swap agreement stands at 4.16 trillion yuan, equivalent to $586 billion. The development gives the BRICS country China power through the currency market and dampens the US dollar’s global prospects.

China, Russia, and Iran are the three BRICS countries that are aggressively looking to end dependency on the US dollar. They are forging new trade deals and rewriting policy settlements that prefer using local currencies.

The dynamics of de-dollarization are advancing as more countries are willing to trade in the national currencies. China is leveraging the situation and taking advantage of the White House weaponizing the US dollar.

@ Newshounds News™

Source:  Watcher Guru

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BANK OF AMERICA READY FOR CRYPTO PAYMENTS — DECODING HOW BANKING WILL CHANGE FOREVER

Is the banking industry prepared for the disruption crypto payments might cause, and if Bank of America leads the charge, what lasting changes can we expect in how banks, businesses, and consumers interact?

Bank of America CEO advocates for crypto…

▪️Bank of America CEO advocates for crypto payments
▪️Bank of America’s twofold relationship with crypto
▪️How U.S. institutions are stepping into crypto
▪️Decoding the probable impact

Bank of America CEO advocates for crypto payments

The banking and crypto worlds have often seemed like two ships passing in the night — acknowledging each other’s existence but rarely finding common ground.

However, Bank of America CEO Brian Moynihan has now thrown his weight behind the idea of integrating crypto payments into the U.S. financial system — but only if regulators give the green light.

Speaking at the prestigious World Economic Forum in Davos, Switzerland, Moynihan addressed a question that has long lingered over the industry — what would it take for banks to embrace crypto as a payment method?

“If the rules come in and make it a real thing that you can actually do business with, you’ll find that the banking system will come in hard on the transactional side of it,” Moynihan remarked during an interview with CNBC.

“If you go down the street here and buy lunch, for example, you could pay with Visa, Mastercard, a debit card, Apple Pay, and so on. In that sense, cryptocurrency would just be another form of payment,” Moynihan explained.

He also discussed a growing realization that crypto — especially stablecoins backed by traditional assets like the U.S. dollar — could seamlessly integrate into existing payment networks.

“If it’s a stablecoin-type of dollar-backed crypto…and our consumers actually want to use it, we think there’s value there,” Moynihan said, hinting that banks could view these tokens as a safer entry point into the crypto payments space.

However, Moynihan did not touch upon the notion of cryptocurrencies like Bitcoin as an investment or store of value, stating that it is “really a separate question.”

Bank of America’s twofold relationship with crypto

Bank of America has not always been optimistic about crypto. For years, the institution’s top executives voiced strong concerns, often portraying crypto as a challenge to the transparency and security upon which the banking system relies.

Back in 2018, BofA’s Chief Technology Officer, Cathy Bessant, expressed sharp criticism of crypto’s fundamental structure, stating:

“As a payment system, I think it’s troubling because the foundation of the banking system is on the transparency between the sender and the receiver, and cryptocurrency is designed to be nothing of the sort.”

She labelled crypto as the “antithesis” of transparency, mentioning how its pseudonymous nature made it difficult for authorities to “catch bad guys.”

However, over the years, BofA’s stance has drastically evolved. The bank has invested heavily in blockchain, recognizing its potential to enhance efficiency, reduce costs, and modernize financial systems.

“We have hundreds of patents on blockchain already,” CEO Brian Moynihan remarked recently in Davos.

The bank’s interest in crypto itself has also grown. In 2024, BofA’s Merrill Lynch added Bitcoin exchange-traded funds to its brokerage platforms for eligible wealth management clients.

The U.S. Securities and Exchange Commission recently announced the creation of a crypto task force aimed at establishing a “sensible regulatory path,” which could provide the necessary guidance for banks like BofA to integrate crypto payments into their operations.

@ Newshounds News™

Read more:  Crypto News

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Introducing ERS, Ending Income Tax as we Know it

Introducing ERS, Ending Income Tax as we Know it

Mark Moss:  1-21-2025

What if the dreaded annual ritual of filing income tax could be banished to the history books? Imagine a world where your hard-earned paycheck isn’t immediately chipped away by the IRS.

It might sound like a financial fantasy, but President Donald Trump is suggesting just that, with a revolutionary proposal to fundamentally alter the American taxation system.

Trump’s plan, dubbed the External Revenue Service (ERS), isn’t about tinkering around the edges. It proposes a complete overhaul, aiming to remove the burden of income tax from American citizens entirely.

The radical shift? Generating government revenue not from internal income, but primarily from foreign trade. This audacious plan, far from being a modern invention, actually echoes the way the U.S. used to fund itself in the past.

Mark Moss, a financial commentator known for his insights, has delved into the details of Trump’s ambitious ERS proposal, revealing the potential ramifications for the U.S. and the world. This isn’t just a political talking point; it’s a seismic shift in financial philosophy that could redefine how America funds its government.

The premise of the ERS is surprisingly straightforward: instead of taxing your wages, the government would primarily collect revenue through tariffs and other fees on goods and services entering the U.S. This would mean that businesses importing goods would contribute directly to government funds, rather than individuals shouldering the burden of income tax.

Skeptics abound, and for good reason. Implementing such a sweeping overhaul of the taxation system would be an incredibly complex political undertaking. There would need to be a complete overhaul of infrastructure and potentially new departments to facilitate this change. This would involve a huge amount of legislative support and public buy-in.

While the probability of the ERS becoming a reality remains uncertain, the discussion itself is crucial. Whether it succeeds or not, this proposal could initiate a much-needed conversation about the very foundations of taxation and whether the current model best serves America.

President Trump’s ERS proposal is far more than just a political talking point; it’s a potential paradigm shift in how governments are funded and how citizens participate in the economy. While challenges and uncertainties remain, the prospect of a tax system that frees Americans from income tax is a tantalizing one.

Whether this radical vision comes to fruition or not, it’s undoubtedly a financial development worth watching, as it could very well be one of the most significant financial shifts of our lifetime.

https://youtu.be/u_mVPIZPpfk

Seeds of Wisdom RV and Economic Updates Wednesday Morning 1-22-25

Good Morning Dinar Recaps,

EU ENFORCES STRICT STABLECOIN REGULATIONS, ORDERS REMOVAL OF NON-COMPLIANT TOKENS

The EU regulator has ordered all crypto exchanges to remove unauthorized stablecoins like Tether by March 2025, with a ban on new acquisitions starting January 2025, as part of its comprehensive stablecoin regulation implementation.

▪️EU regulator ESMA mandates crypto exchanges remove non-compliant stablecoins by end of Q1 2025
▪️Tether’s USDT will be affected as it lacks EU authorization and has no plans for MiCA compliance
▪️Exchanges must stop enabling clients to acquire unauthorized stablecoins by January’s end
▪️Clients holding non-compliant stablecoins have until March to convert to compliant alternatives
▪️Major exchanges like Coinbase have already begun restricting services for non-compliant stablecoins

The European Securities and Markets Authority (ESMA) has issued a clear directive to the 27 EU member states requiring the removal of non-compliant stablecoins from trading platforms.

 The announcement sets a firm deadline of Q1 2025 for full compliance with the EU’s stablecoin regulations.

Under the new requirements, crypto asset service providers (CASPs) must cease offering trading services for unauthorized asset-referenced tokens (ARTs) and electronic money tokens (EMTs). This mandate specifically targets stablecoins that lack proper EU authorization, notably affecting major players like Tether’s USDT.

The timeline established by ESMA requires exchanges to stop enabling new acquisitions of unauthorized stablecoins by the end of January 2025. Current holders of these assets will have until the end of March to convert their holdings to compliant alternatives, ensuring an orderly transition in the market.

Leading cryptocurrency exchange Coinbase has already taken steps to align with these requirements. The company restricted services related to non-compliant stablecoins for its Retail, Exchange, and Prime Vault customers across its European operations starting December 13, 2024.

Tether, one of the largest stablecoin issuers globally, has shown its response to the regulatory pressure by discontinuing its euro stablecoin, EURT, in November. The company has not obtained the necessary e-money license to operate within the EU, unlike competitor Circle, which secured its license in July.

The European Commission has provided additional clarity on the regulations through Peter Kerstens, an advisor involved in drafting the legislation. Kerstens emphasized that the rules are straightforward: unauthorized crypto-assets cannot be listed, regardless of their underlying currency.

Questions had arisen in the crypto community about whether the regulations would affect stablecoins that were already listed before the MiCA regulations came into force. The Commission’s clarification confirms that pre-existing listings are not exempt from the new requirements.

The regulatory framework requires that any entity offering or seeking admission for stablecoins within the EU must either be a bank or an e-money institution and publish a white paper. Third parties may offer these tokens only with the issuer’s consent, and the issuer must still maintain proper authorization.

ESMA’s clarification came after the authority itself sought guidance from the European Commission, highlighting the complexity of implementing these regulations.

This consultation process has resulted in a clear interpretation: crypto exchanges qualify as third parties seeking admission and must ensure their listed stablecoins comply with all regulatory requirements.

For crypto exchanges operating in the EU, this means conducting a thorough review of their stablecoin offerings. They must verify that each listed stablecoin either has proper authorization or must be removed from their trading platforms by the specified deadline.

The regulations also address concerns about monetary sovereignty, particularly regarding non-Euro stablecoins. However, these rules primarily focus on real-world payments rather than crypto trading activities.

EU authorities are emphasizing the importance of an orderly transition to prevent market disruption. Exchanges are expected to communicate clearly with their users about the upcoming changes and provide guidance on converting non-compliant stablecoin holdings.

Industry observers note that these measures align with the EU’s broader strategy to create a regulated and secure cryptocurrency market. The clear deadlines and requirements aim to provide stability and protection for market participants.

Current holders of non-compliant stablecoins are advised to stay informed about their exchange’s compliance timeline and prepare for the necessary conversions before the March deadline. Exchanges are expected to provide detailed instructions and support for this transition process.

@ Newshounds News™

Source:  Blockonomi

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CIRCLE STRENGTHENS USDC ECOSYSTEM WITH HASHNOTE ACQUISITION AND TOKENIZED FUNDS

▪️Circle’s acquisition of Hashnote and integration of USDC and USYC into the Canton Network strengthen its position in tokenized finance, bridging DeFi with traditional markets.

▪️Circle’s innovations and increased demand for tokenized assets could drive Ethereum adoption, reinforcing its role as a foundational blockchain in global finance.

After Circle donated 1 million USDC to Trump’s inaugural committee, CNF highlighted this as a significant step in showcasing stablecoin acceptance in mainstream politics. Circle’s next move, the acquisition of Hashnote, further expands its influence in tokenized asset growth and the $48 billion USDC stablecoin ecosystem.

Hashnote, a leader in tokenized real-world assets and creator of USYC, a $1.3 billion tokenized money market fund, is a strategic acquisition that positions Circle at the forefront of bridging blockchain technology with traditional finance. The acquisition was announced in a tweet, emphasizing its positive implications.

The integration of USYC with Circle’s platform enables it to serve as yield-bearing collateral on major digital asset exchanges and institutions, strengthening both the USDC and USYC ecosystems.

Strengthening USDC and USYC Ecosystems

Circle plans to integrate USDC and USYC into the Canton Network, a blockchain designed for real-world asset transactions backed by leading financial institutions. 

A tweet from Circle highlighted the partnership with DRW, a prominent traditional and crypto market player via its affiliate Cumberland, as a critical step in enhancing institutional adoption and operational efficiency in digital finance.

The partnership with DRW, a major player in traditional and crypto markets via its affiliate Cumberland, is a huge unlock for supporting USDC and USYC and elevating institutional adoption and operational efficiencies in digital finance.

This integration provides seamless convertibility between cash (USDC) and yield-bearing assets (USYC), ensuring liquidity and bridging decentralized finance (DeFi) with traditional financial markets. Circle’s collaboration with Cumberland also improves liquidity and collateral management for institutional digital asset transactions.

Circle CEO Jeremy Allaire emphasized the company’s commitment to shaping the future of tokenized finance by uniting liquid payment systems with yield-bearing assets. This acquisition marks a significant step toward creating a unified system where tokenized cash and money markets coexist, driving adoption across global trading platforms.

Implications for Ethereum’s Ecosystem and Market Value

These developments have substantial implications for Ethereum, the blockchain supporting both USDC and USYC. As Circle strengthens its tokenized asset ecosystem, demand for Ethereum’s network is likely to rise due to increased transaction volumes and DeFi integrations.

@ Newshounds News™

Source:  Crypto News Flash

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“Tidbits From TNT” Wednesday Morning 1-22-2025

TNT:

Tishwash:  Iraq's economy on the verge of collapse.. Expert warns of the consequences of not passing the amendment to Article 12

Oil expert Kovind Shirwani commented on Tuesday (January 21, 2025) on amending Paragraph 12 related to the export of Kurdistan Region oil.

Sherwani told Baghdad Today, "The amendment was submitted by the Federal Government Presidency in consultation with the Ministry of Oil, and it addresses a major dispute over calculating the region's oil production fees."

He added, "Because of the dispute, the region's oil exports were halted for 22 months, and the losses to the Iraqi economy due to the halt of 400,000 barrels of oil per day reached 18 billion dollars."

He pointed out that "not obstructing the amendment of Article 12 will harm all of Iraq and the country's economy, which loses between 800 and 900 million dollars per month due to the halt in exports. Passing this amendment will support the budget with these funds, and thus the first beneficiary of passing the amendment is the Iraqi economy, and not passing it is the Iraqi economy. It is unfortunate that this amendment is portrayed as serving the region only, and this is a great fallacy."

The Finance Committee of the House of Representatives announced on Sunday (January 19, 2025) the imminent vote on amending Article 12 of the budget related to the Kurdistan Region’s oil, while pointing to the most prominent proposals submitted to amend this paragraph.

The head of the committee, Atwan Al-Atwani, said in a speech during a committee meeting, according to a statement received by "Baghdad Today", that "the committee's meetings are continuing to discuss amending Article 12 of the budget law related to the Kurdistan Region's oil," indicating that "the committee has reached the final stages of completing the hosting and providing a lot of information in preparation for voting on the amendment today."

He added, "It is necessary for there to be a decision from the committee to submit the draft law to a vote," expressing his hope that "an agreement will be reached to vote on this draft law, which complements the 2023 budget."

He pointed out that "a number of committee members have raised many paragraphs and submitted proposals, and we will raise them so that everyone is aware of them, but they cannot be added considering that the project is an amendment and not budget tables," indicating that "the committee's opinion from the beginning is to proceed with amending the law, but we do not want the clauses and amendments to be like their predecessors, unproductive amendments."

Al-Atwani explained that “the committee added to the amendment paragraphs the obligation of the parties, whether the Ministry of Finance or the Ministry of Oil Resources, to abide by the outputs of the consulting company,” stressing that “there must be an obligation for both parties.”

Al-Atwani concluded by saying: “The consulting company must have a working period that may end in 2025, and it has not achieved results,” stressing that “we are keen to implement the results during this year to be a basis for 2026 link

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Tishwash:  Al-Sudani: Iraq is a pivotal partner and national decision-making sovereignty is a priority

Prime Minister Mohammed Shia al-Sudani stressed that Iraq has a special status in dealing with the will to survive, stressing that "the Iraqi people are among the most proud and self-confident personalities, and cannot be subject to anyone, whoever they may be.

The Prime Minister said, in an interview with Elaph website: Washington is a major partner of Iraq, and the government is working to build a stable institutional relationship with it, noting that the government is determined to build a new Iraq based on its cultural heritage.

Al-Sudani pointed out that portraying Iraq as subordinate to any country contradicts the historical character of the country," stressing that "the relationship between Iraq and the United Kingdom enjoys a unique special status."

He added that "Baghdad is working to build a stable institutional relationship with Washington, as the United States remains a major partner of Iraq, and we are committed to a policy of openness and true partnership," indicating: "Today we are facing a new stage in our relationship with the United Kingdom, and Iraq plays a pivotal role as an effective mediator between various regional parties, and Baghdad has become a center for calm dialogue that aims to bridge the gap between the parties."

He explained that "Riyadh is a partner “It is essential to Iraq’s economic equation, and that the electrical connection with Saudi Arabia is not just a technical project, but a step towards achieving long-term economic integration,” stressing that “the country is moving confidently towards institutional reform.”

He pointed out that “the government is working to integrate the armed factions within the legal and institutional frameworks, and is determined to build a new Iraq based on its Arab cultural heritage.”link

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Tishwash:  The President of the Republic discusses ways to enhance relations between Iraq and Honeywell Energy Company

President of the Republic Abdul Latif Jamal Rashid discussed ways to enhance relations between Iraq and Honeywell Company in the oil and energy industries.

The presidency said in a statement, "President of the Republic Abdul Latif Jamal Rashid received today at his residence in Davos, CEO of Honeywell Energy and Sustainability Solutions Ken West.

The statement added, "During the meeting, ways to enhance relations between Iraq and Honeywell Company in the oil and energy industries were discussed.

The President of the Republic referred to the current stability in Iraq at all levels and the investment opportunities available in various sectors. The

President stressed Iraq's desire to develop the management of oil and gas wealth in Iraq and control the burning of associated gas due to its impact on air quality, explaining Iraq's readiness to activate communication mechanisms and provide the necessary facilities for the work of Honeywell Company and exchange experiences with it in a way that helps raise the level of the energy sector in the country.

For his part, West stressed Honeywell's desire to develop relations with Iraq at all levels, especially investment in the field of oil industries and the development of wells, in a way that enhances the positive partnership link

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Mot: ...... Ain't Gunna Lie

Mot: .. Ssiiiigggghhhhhhh!!!! 

Iraq Economic News and Points to Ponder Tuesday Evening 1-21-25

Central Bank of Iraq's sales of foreign remittances reach more than 94%

Time: 2025/01/21 Reading: 910 times  {Economic: Al Furat News} Foreign transfers in the sales of the Central Bank of Iraq, on Tuesday, reached more than 94% with the participation of 7 banks and 19 exchange companies.

The bank sold in its auction today 287 million, 882 thousand, and 784 dollars, covering it at a basic exchange rate of 1310 dinars per dollar for documentary credits and international settlements for electronic cards, at a rate of 1310 dinars per dollar for foreign transfers, and at a rate of 1305 dinars per dollar in cash.

Most of the dollar sales went to boost balances abroad in the form of transfers and credits, which amounted to 273 million, 323 thousand and 784 dollars, at a rate of 94.87%, compared to cash withdrawals amounting to 14 million and 550 thousand dollars.

The number of banks that purchased cash dollars was one bank, while the number of banks that met requests to enhance balances abroad was 6 banks, and the total number of exchange companies participating in the auction was 19 companies.  LINK

Foreign Ministry: Decision To Downgrade Security Classification Will Open Door For British Companies To Enter Iraqi Market

Money and business  Economy News – Baghdad   The Foreign Office on Tuesday welcomed the UK's decision to downgrade Iraq's security rating.

The ministry said in a statement, seen by "Al-Eqtisad News", that "the Ministry of Foreign Affairs welcomes the decision of the United Kingdom to reclassify the security level in Iraq, and considers this step an important achievement that reflects the significant improvement in the security situation and the Iraqi government's ongoing efforts to achieve stability and enhance a safe and encouraging environment for investment and work."

It added that "reducing the security classification will open the way for British companies to enter the Iraqi market, and the decision will contribute to reducing the costs of travel and work insurance, which will enhance opportunities for economic and investment cooperation between Iraq and the United Kingdom.

" It continued, "In this context, the ministry calls on other Western countries, including the United States of America, Canada, and the European Union countries (Germany, France, Belgium, Italy, Austria, and the Netherlands), to reconsider their security classifications for Iraq, and the ministry encourages these countries to take similar steps that support Iraq's efforts to enhance economic cooperation."

The ministry confirmed that "Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein will work to send official messages to the concerned countries, urging them to review their security classifications for Iraq in line with the positive developments and the noticeable improvement in the security situation."

The ministry renewed, according to the statement, "its commitment to work with its international partners to strengthen bilateral relations and provide an appropriate environment for expanding cooperation in various fields, in a way that serves common interests and enhances stability and development in Iraq and the region."    https://economy-news.net/content.php?id=52172       

"Al-Eqtisad News" Publishes The Full Decisions Of The Cabinet Session

Money and business   Economy News – Baghdad  Al-Eqtisad News publishes the full decisions of the third Cabinet session, which was held today, Tuesday, headed by Prime Minister Mohammed Shia Al-Sudani.

The Prime Minister's Media Office said in a statement, seen by "Al-Eqtisad News", that "Al-Sudani chaired, today, Tuesday, the third regular cabinet session of the current year, during which the general conditions in the country were discussed, important files and issues and priorities for implementing the government program were discussed, in addition to discussing the topics included on the agenda and taking the necessary decisions regarding them."

The statement added, "The Council of Ministers decided to suspend official work in all state departments and institutions in the capital, Baghdad, on Sunday, January 26, 2025, on the occasion of the commemoration of the martyrdom of Imam Musa bin Jaafar al-Kadhim, peace be upon him."

He explained that "following up on the progress of implementing the government program and the digital data related to the achievements, the Council of Ministers reviewed the fourth semi-annual report of the government program in terms of achievement and implementation of the program and it was approved, as the total achievement rate of the targets during the government's lifetime reached (73%), while the interim achievement rate for all targets reached (86%), and the data on the total achievement of (403) targets of the program was confirmed."

He added, "Regarding the submission of government program implementation reports by ministries and state institutions, the Council of Ministers agreed that all ministries and relevant authorities should express their observations on the fourth semi-annual report to follow up on the implementation of the government program, each according to its specialization, until the official working day of Thursday, January 23, 2025, provided that the Secretariat of the Program Implementation Follow-up Team undertakes to make the necessary amendments in accordance with the rules, and submit the report under discussion in its final form to the Prime Minister for approval and submission to the House of Representatives, based on the provisions of the Council of Ministers' internal regulations for the year 2019."

The Council of Ministers continued the approach of evaluating the performance of officials and general managers, according to the previously approved principles, and voted to confirm (14) general managers after the evaluation, in various government departments.

The statement indicated that, "Within the energy sector projects, the Council approved the principles of cooperation between the Ministry of Electricity and Stellar Energy, and proceeded with implementing the terms of the agreement, and authorizing the Ministry of Electricity with the necessary authority to contract with the aforementioned company, as an exception to the contracting methods in implementing government contracts, in a manner that ensures speedy completion and achieving the desired goal, and that the contract enters into force when financial allocations are available."

It was decided that the Ministries of Finance and Planning would include the principles of energy cooperation within the budget allocations for the year 2025, in the amount of two billion dollars, for the first phase, so that the second phase of the loan would be completed within the budget allocations for the year 2026, and the Minister of Electricity would be authorized to issue subsequent approvals regarding the signing of the principles of cooperation between the Ministry of Electricity and Stellar Energy Company, as an exception to the instructions for implementing government contracts.

He pointed out that "within the file of developing oil sector projects, the Council followed up on the Nasiriyah field expansion project, with a capacity of (100,000 b/d - Dhi Qar Oil Company), where it was approved to amend Cabinet Resolution (30 of 2021) to include adopting the implementation method (EPC), instead of (EPCF), with an amendment to the total cost of the project, and deleting the paragraphs from the aforementioned resolution, related to the sources of funding, as the project is included in the investment budget for the year 2024. It was also decided that the Ministries of Planning and Finance would send a letter to release the financing to open the documentary credit, according to the dues due for the project within the fiscal year 2025 and subsequent years, and the commitment of the Ministry of Finance to finance the aforementioned documentary credit."

Regarding the development of the Bin Omar and Sinbad oil fields in Basra Governorate, the Council of Ministers approved the signing of the Principles Agreement (HOA) with Halliburton to develop the two fields, using the Integrated Management System (IFMS) and Engineering, Construction and Procurement (EPCM) method with national effort, and it is treated as a licensing round, according to a statement from the Prime Minister’s Media Office.

He added, "In the field of settling the financial and administrative matters of the Anbar Combined Power Plant Project, the Council of Ministers approved the cancellation of the amount of debt owed to the Ministry of Transport/General Company for Iraqi Ports by the Ministry of Electricity, amounting to (12,448,608) billion dinars, regarding fines and grounds for equipment for the Anbar Combined Power Plant Project for two shipments; because they contained specialized equipment with high weights and large standard sizes; based on the provisions of the Federal Financial Management Law (6 of 2019) amended."

He explained that the Council approved the recommendation of the Ministerial Council for the Economy regarding the purchase of specialized equipment for ground services for the Ministry of Transport, in accordance with what was stated in the Ministry’s letter on January 19, 2025.

He pointed out that "in order to follow up on the environmental issue and activate the work of the General Company for Carbon Economics, the Council of Ministers decided to include the Ministry of Finance with an amount of (10) billion dinars, to the Ministry of Environment / General Company for Carbon Economics, within the estimates of the budget tables for the year 2025, in order to cover the founding operating expenses, and to achieve the company's goals stated in the founding statement, published in the Iraqi Gazette in issue (4764) on March 11, 2024."

The statement added, "The Council of Ministers followed up on the project to establish an integrated medical city in Dhi Qar Governorate, and approved the recommendation related to referring the medical city project/turnkey delivery from the relevant committee in the Dhi Qar Governorate Reconstruction Fund to the China State Construction Engineering Corporation, Limited Liability Company, based on the provisions of the Dhi Qar Governorate Reconstruction Fund Instructions (2 of 2021)."

He explained that "for the purpose of ending the financial matters related to Covid-19 vaccines, the Council of Ministers approved the authorization of the Minister of Health, or his representative, to contract with UNICEF to provide the Ministry of Health with its needs of medicines, medical and laboratory equipment and supplies, and other needs, according to the Ministry's need from the reserve of vaccines related to (Covid-19), and other vaccines for previous years combined with UNICEF, amounting to (28,154,000) million dollars, as an exception to the contracting methods for implementing government contracts."

He added that "in order to manage and organize the affairs of expatriates, the Council approved the adoption of the Iraqi National Insurance Platform for the categories (expatriates and foreign visitors), and obligated the Ministries of (Foreign Affairs, Labor and Social Affairs, Culture, Tourism and Antiquities), the National Investment Commission, and the Kurdistan Region of Iraq Representation, not to grant any visa or entry visa, except after obtaining an insurance document from the aforementioned platform, based on the provisions of the Health Insurance Law (22 of 2020).

The Council of Ministers approved the draft law on the ratification of the Republic of Iraq of the Mecca Agreement of the Member States of the Organization of Islamic Cooperation for Cooperation in the Field of Enforcing Anti-Corruption Laws signed in the State of Qatar (November 2024), and referred it to the House of Representatives, based on the provisions of the Constitution.

The Council followed up on infrastructure projects, and the completion of stalled projects, and approved the following:

1- Increasing the reserve amount and the total cost of the project (establishing two internal department complexes for boys and girls at Tikrit University).

2- Reducing the cost of the component (rehabilitation of Al-Badri Irrigation Project), including a new component for the remaining works, and increasing the cost of the main project (Al-Badri Irrigation Project) in Al-Muthanna Governorate.

3- Reducing the cost of the component (lining the Abu Alamah River in the Al-Bu Khadir area), including a new component for the remaining works, and increasing the cost of the main project (the river lining project) in Al-Muthanna Governorate.   https://economy-news.net/content.php?id=52174

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

Seeds of Wisdom RV and Economic Updates Tuesday Evening 1-21-25

Good Evening Dinar Recaps,

FINLAND’S NASDAQ HELSINKI WELCOMES VIRTUNE’S 5 CRYPTO ETPS:  BTC, ETH, XRP, SOL, AND ALTCOINS

The products will be listed on the Finnish Nasdaq Helsinki.

Virtune, a leading Swedish regulated crypto asset manager, has successfully listed five crypto exchange-traded products (ETPs) in Finland’s Nasdaq Helsinki. The products include top cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and altcoins. 

The launch marks a key milestone for Finland as it represents the nation’s first crypto ETPs. It is also the biggest crypto ETP launch on a regulated market in northern Europe’s Nordic nations like Denmark, Finland, Iceland, Norway, and Sweden.

@ Newshounds News™

Read more:  Crypto Flash News

~~~~~~~~~

XRP, DOGE, SOL, AND OTHER COINS GET NEW ETF FILINGS

REX Shares has filed multiple exotic ETF applications for such tokens as XRP, Solana (SOL), and Dogecoin (DOGE).    Leading ETF analyst Eric Balchunas has stated that REX is not just a random issuer, noting that its CEO was "an early pioneer in the industry."

Greg King, the founder and CEO of the Florida-based firm, has launched more than 100 ETFs and notes for such major names as BONK and Dogecoin. The filing also seeks to create funds for Bitcoin, Ethereum, Solana, and XRP.

Meanwhile, Teucrium, another ETF issuer, has filed for 2x Long & Short XRP ETFs. As reported by U.Today, leading analyst Nate Geraci previously predicted that an XRP ETF would be approved this year.

@ Newshounds News™

Read more:  U Today

~~~~~~~~~

TRUMP PARDONS FORMER SILK ROAD FOUNDER AND BITCOIN ICON ROSS ULBRICHT

Those who convicted Ulbricht were "some of the same lunatics involved in the modern-day weaponization of government against me," Trump wrote Tuesday.

President Donald Trump announced Tuesday the pardon of Ross Ulbricht, founder of the Silk Road online marketplace.

In a social media post on Truth Social, Trump said he had granted Ulbricht a "full and unconditional pardon," citing support from the Libertarian movement and criticizing the government’s handling of Ulbricht’s case.

Ulbricht, 40, was convicted in 2015 on charges including conspiracy to traffic narcotics and money laundering in connection with the Silk Road, a darknet site that facilitated billions of dollars in illegal drug transactions.

He received a sentence of two life terms plus 40 years without parole, sparking years of debate over the fairness of his punishment.

"The scum that worked to convict him were some of the same lunatics involved in the modern-day weaponization of government against me," Trump wrote.

The pardon is expected to draw sharp reactions from both supporters and critics.

Advocates for Ulbricht have long argued his sentence was excessive, while opponents highlight the scale of criminal activity linked to the Silk Road.

@ Newshounds News™

Source:  Decrypt

~~~~~~~~~

HERE IS THE FULL LIST OF PRESIDENTIAL ACTIONS TRUMP SIGNED ON DAY ONE

These bold initiatives mark a stark departure from the Biden regime’s globalist policies and signal a return to the principles that put the American people first.

Here is the list of presidential actions Trump signed on Monday following his inauguration:

1. Withdrawing The United States From The World Health Organization

2. Application Of Protecting Americans From Foreign Adversary Controlled Applications Act To TikTok
3. Granting Pardons And Commutation Of Sentences For Certain Offenses Relating To The Events At Or Near The United States Capitol On January 6, 2021

4. Putting America First In International Environmental Agreements
5. Delivering Emergency Price Relief for American Families and Defeating the Cost-of-Living Crisis
6. Hiring Freeze

7. Regulatory Freeze Pending Review
8. Return to In-Person Work

9. Ending The Weaponization Of The Federal Government

10. Restoring Freedom Of Speech And Ending Federal Censorship
11. Securing Our Borders

12. Protecting The Meaning And Value Of American Citizenship
13. Realigning the United States Refugee Admissions Program
14. Unleashing American Energy

15. Clarifying The Military’s Role In Protecting The Territorial Integrity Of The United States
16. America First Trade Policy
17. Memorandum to Resolve the Backlog of Security Clearances for Executive Office of the President Personnel

18. Declaring A National Emergency At The Southern Border Of The United States
19. Holding Former Government Officials Accountable For Election Interference And Improper Disclosure Of Sensitive Governmental Information

20. Restoring Accountability To Policy-Influencing Positions Within the Federal Workforce
21. Protecting The American People Against Invasion

22. The Organization for Economic Co-operation and Development (OECD) Global Tax Deal (Global Tax Deal)
23. Organization of the National Security Council and Subcommittees
24. Reevaluating And Realigning United States Foreign Aid

25. Temporary Withdrawal of All Areas on the Outer Continental Shelf from Offshore Wind Leasing and Review of the Federal Government’s Leasing and Permitting Practices for Wind Projects

26. Declaring a National Energy Emergency

27. Restoring Accountability for Career Senior Executives
28. Promoting Beautiful Federal Civic Architecture
29. Restoring The Death Penalty And Protecting Public Safety

30. Putting People Over Fish: Stopping Radical Environmentalism to Provide Water to Southern California

31. Guaranteeing The States Protection Against Invasion
32. Restoring Names That Honor American Greatness

33. Designating Cartels And Other Organizations As Foreign Terrorist Organizations And Specially Designated Global Terrorists
34. Reforming The Federal Hiring Process And Restoring Merit To Government Service

35. Ending Radical And Wasteful Government DEI Programs And Preferencing
36. Defending Women From Gender Ideology Extremism And Restoring Biological Truth To The Federal Government

37. Establishing And Implementing The President’s “Department Of Government Efficiency”
38. America First Policy Directive To The Secretary Of State
39. Protecting The United States From Foreign Terrorists And Other National Security And Public Safety Threats
40. Unleashing Alaska’s Extraordinary Resource Potential

With bold leadership and a clear vision, Trump has reaffirmed his commitment to putting America first. You can read each of these executive orders on the White House’s website.

@ Newshounds News™

Source:  TruthPress

~~~~~~~~~

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Iraq Economic News and Points to Ponder Tuesday Afternoon 1-21-25

Iraq Looks To Strengthen Ties With New US Administration

January 21, 2025   Baghdad - Qusay Munther  President of the Republic Abdul Latif Jamal Rashid congratulated his American counterpart Donald Trump on the occasion of his swearing-in as President of the United States of America.

Rashid said in a tweet on the X platform yesterday (We congratulate Trump on the occasion of his swearing-in as President of the United States of America, wishing him success in his work duties), stressing (Iraq's support for establishing security and stability in the region and the world, and strengthening bilateral relations between our two friendly countries in a way that achieves the common interests of the two peoples).

Prime Minister Mohammed Shia al-Sudani sent a congratulatory telegram to Trump on the occasion of his assumption of his duties as President of the United States.

A statement received by (Al-Zaman) yesterday said (The congratulatory telegram included Al-Sudani's affirmation of Iraq's aspiration to strengthen the bonds of cooperation and partnership with the United States, within the framework of the strategic agreement and the common interests of the two countries), pointing out (the importance of working to support the foundations of stability, security and development regionally and internationally).

In a development, Al-Sudani stressed the Iraqi government's adherence to strategic relations with the United States, and its efforts to activate and expand the scope of implementing all bilateral memoranda of understanding, and bilateral security and economic coordination, under the umbrella of respecting sovereignty, and non-interference in internal affairs.

Al-Sudani said that (Washington is a major partner of Iraq, and the government is working to build a stable institutional relationship with it), and pointed out that (the government is determined to build a new Iraq based on its cultural heritage), and went on to say that (Iraq plays a pivotal role as an effective mediator between various regional parties, and Baghdad has become a center for calm dialogue aimed at bridging the gap between the parties), and pointed out that (Riyadh is a key partner in Iraq's economic equation, and that the electrical connection with Saudi Arabia is not just a technical project, but a step towards achieving long-term economic integration).

In addition, the World Health Organization expressed its regret over the decision of the new US President's administration to announce Washington's withdrawal from the UN agency.

WHO spokesman Tarik Jasarevic said in a statement yesterday that “the international body regrets the announcement by the United States of America that it intends to withdraw from the organization,” adding, “We hope that the United States will reconsider its position and engage in a constructive dialogue for the health and well-being of millions of people around the world, hoping for a constructive dialogue with the US authorities. ”

For its part, the European Commission expressed its concerns about Trump’s decision to withdraw from the World Health Organization, warning that the move could undermine the response to any future epidemics.  

Commission spokeswoman Eva Herncirova said in a statement yesterday, “If we want to withstand global health threats, we must have global cooperation,” adding, “We are confident that the US administration will think about all these matters before the official withdrawal.”

Trump began his rule by signing a series of executive orders that he described as historic, confirming that the golden age of the United States had begun. The decisions included (declaring a state of emergency on the southern border with Mexico, sending US troops to stop illegal immigration, and imposing tariffs on foreign countries to boost the US economy.

The decisions also included restoring the Panama Canal, withdrawing from the Paris climate agreement, and focusing efforts on exploring Mars and developing energy. Trump is expected to issue about 100 executive orders on his first day, opening the door to a new phase of American politics.  LINK

Economist: US Oil Exports Will Increase Crude Prices And Economic Challenges For Iraq

Time: 2025/01/21 Read: 1,417 times  Economic: Al Furat News} Economic expert, Rashid Al Saadi, warned of the repercussions of the United States of America exporting quantities of its oil energy and its impact on the Iraqi economy.

Al-Saadi told {Euphrates News} that: "This move will lead to a reduction in the quantities offered in the global market, which will raise prices as a result of the decrease in supply versus demand, and will also strengthen the economic relationship between supply and demand, as the decrease in supply will lead to an increase in oil prices, which will directly affect Iraq and the global oil market."

Al-Saadi added that "this change will lead to the United States dispensing with oil imports, which will reduce global dependence on imported oil," explaining that "these shifts in the market will have a major impact on oil prices, which may cause a decrease in the revenues of oil countries, including Iraq."

He pointed out that "the Iraqi government must begin to seriously consider finding alternative resources other than oil, given the Iraqi economy's great dependence on oil revenues."

The economic expert stressed that "the steps taken towards diversifying oil revenues were not as required, which makes it necessary to accelerate these efforts to confront future economic challenges that may be exacerbated by these changes in the global oil market."

Prices swung between gains and losses as traders digested a series of pledges and executive orders from President Donald Trump, including a threat to impose tariffs on Canada and plans to boost domestic energy production.

Brent crude traded above $80 a barrel after three days of losses, while West Texas Intermediate crude approached $77.

Trump has said he could impose tariffs of up to 25% on crude producers Canada and Mexico by early next month and signed an order declaring a national energy emergency.

However, Trump declined to unveil the China tariffs on his first day in office, instead ordering his administration to address unfair trade practices globally, according to a White House fact sheet seen by Bloomberg.   LINK

Oil Prices Fall On US Oil Production Increase Plan

Energy   Economy News – Baghdad   Oil prices fell in Asian trading on Tuesday after President Donald Trump announced a plan to boost U.S. oil and gas production and held off on new tariffs.

Brent crude futures were down 11 cents, or 0.14 percent, at $80.04 a barrel by 01:56 GMT.

The most widely traded West Texas Intermediate crude futures contract for March fell about 67 cents to $76.72 a barrel from Friday's close.

US President Donald Trump announced a plan to boost US oil and gas production and said he was considering imposing 25% tariffs on imports from Canada and Mexico starting February 1 rather than immediately, which helped push oil prices lower.

But ultimately, tariffs on Canadian crude could send the market higher.

Almost all of Canada's oil exports go to the United States and are typically sold at a discount to West Texas Intermediate crude.

Trump has laid out a comprehensive plan to speed up the issuance of oil, gas and power permits in order to maximize U.S. energy production, which has already reached record levels.

Although he did not immediately impose any sweeping new trade measures, he did order federal agencies to investigate unfair trade practices by other countries.

Trump also said the United States "may" stop buying oil from Venezuela.

Trump also promised to replenish strategic reserves, a move that would boost oil prices by boosting demand for U.S. crude.   https://economy-news.net/content.php?id=52144

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

60% For Only Two Countries.. Iraqi Oil Exports Rise In 2024

 01/21/2025  Mawazine News – Economy  Iraqi oil exports in 2024 witnessed a significant increase, with an increase of 90 thousand barrels per day compared to 2023, according to a report issued by the Energy Research Unit.

Exports averaged 3.64 million barrels per day during the year, with China and India accounting for about 59.6% of global shipments.

Key points about Iraqi oil exports in 2024:

1. Annual increase in exports:
- Average exports: 3.64 million barrels per day (compared to 3.55 million barrels per day in 2023).
- Highest quarterly rate: 3.69 million barrels per day in the third quarter.
- Lowest quarterly rate: 3.54 million barrels per day in the fourth quarter due to compensating for excess production.

2. Production reduction measures:
- Iraq's commitment to a voluntary production cut of 211 thousand barrels per day since May 2023, in addition to an additional voluntary cut in 2024 of 220 thousand barrels per day with the OPEC+ alliance.
- These cuts extend until the end of 2026, with volumes gradually being reintroduced from March 2025.

3. Top importers:
- China: 1.19 million bpd (up from 1.09 million bpd in 2023).
- India: 979,000 bpd (up from 945,000 bpd).
- South Korea: 328,000 bpd.
- UAE: 287,000 bpd (up significantly due to Ruwais refinery expansion).
- US: 242,000 bpd (down from 251,000 bpd).

4. Monthly performance:
- Highest monthly export rate: 3.86 million bpd in July.
- Lowest monthly export rate: 3.48 million bpd in October.

Reasons for shifts in import markets:
- China and India: Continued strong demand due to refinery expansions and increased energy needs.
- UAE: Preferring to import Iraqi oil to operate the new Ruwais refinery instead of exporting Murban crude to achieve higher returns.
- USA: Demand has declined due to the availability of local supplies and alternative sources.

These figures demonstrate Iraq’s role as one of the largest exporters in the global oil market, while maintaining flexibility in the face of market fluctuations and production policies.

The positive performance of exports is expected to continue with a balance between meeting global demand and adhering to production cut plans within the OPEC+ alliance. https://www.mawazin.net/Details.aspx?jimare=258843

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

Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 1-21-25

Good Afternoon Dinar Recaps,

SEC LAUNCHES CRYPTO TASK FORCE TO DEVELOP CLEAR REGULATION

In a recent announcement, the US Securities and Exchange Commission (SEC) announced the launch of a brand new crypto task force. Specifically, the agency is set to develop “a comprehensive and clear regulatory framework for crypto assets,” according to a recently released press release.

The announcement is part of the expected changes to come from the incoming administration. With Donald Trump officially inaugurated into office Monday, he announced the appointment of Mark Uyeda as acting chair of the agency. His presence comes following former Chair Gary Gensler’s resignation this week.

SEC Launching Crypto Task Force to Develop New Regulatory Framework

For the last several years, the SEC has developed a rather contentious relationship with the digital asset sector. Under the former Biden Administration, the agency adopted a regulation-by-enforcement approach. As a result, companies like Ripple found themselves engaged in years of court battles with the agency.

Yet, that has begun to change today. With Donald Trump beginning his second non-consecutive term as US President Monday, the SEC has announced the launch of a crypto task force dedicated to the formulation of a clear regulatory framework for which the industry will be governed.

Chairman Uyeda announced the framework, with Commissioner Hester Peirce set to lead it. “Drawing from talented staff across the agency, the Task Force will collaborate with Commission staff and the public to set the SEC on a sensible regulatory path that respects the bounds of the law,” the agency said.

Additionally, they noted things like clear regulations and a pathway to registration “have been elusive.” Moreover, they noted, “The SEC can do better.” The task force appears to be the first step in that pursuit. It could be the beginning of the United States’ path to being a global crypto leader.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

NO CRYPTO FOCUS IN TRUMP’S 200 EXECUTIVE ORDERS: WHAT’S NEXT?

▪️Trump’s first 200 executive orders did not include any clear actions related to Bitcoin or cryptocurrencies.
▪️David Bailey hinted at potential crypto-related content but admitted uncertainty about the specifics.
▪️The crypto community was disappointed as Trump prioritized energy, immigration, and security over digital assets.

US President Donald Trump signed his first 200 executive orders shortly after assuming office. However, despite speculation and expectations from the crypto community, none of these orders were related to virtual assets like Bitcoin or other cryptocurrencies.

David Bailey, CEO of Bitcoin Magazine and former cryptocurrency advisor to the Trump campaign, shared his insights on X (formerly Twitter), stating:

“Got confirmation tonight that our EOs are among the first 200.”

However, he admitted uncertainty about the specifics. “I have no idea what made it in, but good news cometh,” he added.

Interestingly, the crypto community had hoped for stronger signals from the administration. Rumors before Trump’s inauguration suggested that he might prioritize cryptocurrency, perhaps even declaring it a national priority or establishing a Bitcoin reserve. But these ambitions did not materialize.

No Crypto in Trump’s First-day Executive Orders

On his first day, Trump directed his attention to immigration, energy, and federal operations. Key actions included reversing Biden’s restrictions on oil drilling and announcing, “We will extract as much oil as we can.” He also withdrew the US from the Paris Climate Agreement, a global initiative to combat climate change.

In another notable move, Trump signed a decree granting TikTok an additional 75 days to find a US buyer, allowing its operations in the country to continue temporarily. While this decision aimed to address security concerns, critics noted the absence of actions supporting the burgeoning crypto industry.

Fox Business journalist Eleanor Terrett expressed disappointment, tweeting:

“No Day 1 executive orders on #crypto or industry-related pardons, then?”

This sentiment echoed across the crypto community, which had anticipated early moves to recognize or regulate digital assets.
A Shift in Focus, a Missed Opportunity?

Cryptocurrency advocates were left questioning why digital assets, widely viewed as transformative, were left off the agenda. Before Trump’s term, some hoped he would pardon Ross Ulbricht, the Silk Road founder serving a life sentence. However, no such measures emerged.

During his inaugural speech, Trump remained silent on the topic of cryptocurrencies, further deepening concerns. David Bailey reassured enthusiasts by saying that their [our] “decrees are coming too”, suggesting that virtual assets might gain attention later in Trump’s presidency.

Despite the initial absence of crypto-focused orders, the speculation surrounding Trump’s approach to digital assets highlights the growing importance of cryptocurrency in national policy discussions. For now, the crypto world watches and waits, hopeful for future recognition and regulation.

@ Newshounds News™

Source:  CoinSpeaker

~~~~~~~~~

HESTER PEIRCE TAPPED TO LEAD SEC’S NEW CRYPTO TASK FORCE

Acting SEC chair Mark Uyeda appoints Hester Peirce to lead a task force focused on crypto regulations and market integrity.

▪️The SEC has formed a Crypto Task Force under Commissioner Hester Peirce to establish proactive regulation and clear legal standards.

▪️The initiative aims to support innovation while addressing industry confusion over previously enforcement-focused approaches.

The SEC has established a Crypto Task Force under the leadership of Commissioner Hester Peirce, with Acting Chairman Mark T. Uyeda announcing the initiative on Tuesday.

Richard Gabbert and Taylor Asher will serve as Chief of Staff and Chief Policy Advisor, respectively, bringing together experts across the agency to work with Commission staff, industry participants, and the public.

“The SEC has relied too heavily on enforcement actions to regulate crypto, often adopting untested legal interpretations,” Uyeda said.

The task force seeks to move toward proactive regulation by establishing clear legal standards, creating practical registration pathways, and maintaining market integrity while supporting innovation.

The announcement comes as Uyeda serves as interim SEC Chair until Paul Atkins assumes the role under President Donald Trump’s administration.

The initiative aims to address industry confusion resulting from the SEC’s previous enforcement-focused approach by developing clear regulatory guidelines and disclosure frameworks for crypto assets.

@ Newshounds News™

Source:  Crypto Briefing

~~~~~~~~~

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DOLLAR COLLAPSE: A Simple Breakdown to a Complex Crisis (Currency Reset)

DOLLAR COLLAPSE: A Simple Breakdown to a Complex Crisis (Currency Reset)

Taylor Kenny:  1-21-2025

he collapse of the dollar is accelerating, driven by unsustainable debt, geopolitical alliances, and technological advancements like CBDCs.

These forces are leading us toward an inevitable Currency Reset that will reshape the global economy. Learn what’s happening, what’s coming next, and how to protect your wealth.

CHAPTERS:

00:00 - Why this might be the most important video of the year

00:36 - Understanding the Dollar’s central role

02:15 - The illusion of Dollar strength

 02:54 - Four driving forces behind the Dollar’s collapse

11:25 - The process leading to a Currency Reset

 12:02 - What happens during a Currency Reset

13:15 - Gold as the foundation of a new financial system

https://www.youtube.com/watch?v=TRbYWyJ9Sv8

Seeds of Wisdom RV and Economic Updates Tuesday Morning 1-21-25

Good Morning Dinar Recaps,

BRICS REALIZE THEY CANNOT CHALLENGE THE US DOLLAR

The US dollar started 2025 with a bang leaving local currencies of BRICS countries distantly behind in the charts. The DXY index, which tracks the performance of the US dollar shows the currency crossing the 110 mark.

The US markets are confident that Trump’s re-election could turn the fortunes of America and bring economic prosperity. The same positivity is lacking in developing countries as their local currencies are being hammered by the raging US dollar.

The BRICS alliance, which kick-started the de-dollarization agenda is now reeling under pressure from the US dollar. BRICS country India’s local currency, the rupee, has fallen to a lifetime low of 86.68 this week. The rupee fell four trading sessions in a row as the USD trampled the currency in the charts. Currency experts predict that the Indian rupee could fall to 90 to 92 levels in the next 10 months.

BRICS No Challenge to the US Dollar

The US dollar is strengthening in the indices with the massive inflow of funds entering the American markets. Institutional investors offloaded most of their overseas funds and are now taking entry positions in the US markets.

 The belief that Trump’s rule could bring fortunes has reached a peak in 2025. The first instance of the market gaining steam occurred immediately after he was declared the winner in November. This puts BRICS on the back foot as it stands no chance to challenge the US dollar during Trump’s tenure.

Trump has already threatened BRICS with 100% tariffs if they plan to abandon the US dollar for trade. The alliance is now left with obeying his demands as a tariff increase will only hurt their economies.

The de-dollarization agenda could fail under his rule as the President-elect aims to safeguard the USD. Whether he will bring in laurels to the US stock market or cause a dent, only time will tell.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

RAMASWAMY EXITS DOGE FOR OHIO GOVERNOR BID, LEAVING MUSK AS SOLE HEAD

Vivek Ramaswamy said on X he was leaving the Department of Government Efficiency and was “confident that Elon and the team will succeed in streamlining government.”

Entrepreneur and former presidential candidate Vivek Ramaswamy will no longer co-lead the Department of Government Efficiency (DOGE) alongside Elon Musk, and is reportedly opting to run for Ohio governor instead.

“It was my honor to help support the creation of DOGE,” Ramaswamy said in a Jan. 20 X post. “I’m confident that Elon and the team will succeed in streamlining government.”  

Ramaswamy didn’t elaborate on his future plans, but CBS News and The New York Times were among the US media outlets reporting that the business leader and author would soon announce he is running run for governor of Ohio.

Ramaswamy said that he’d “have more to say very soon” while reaffirming his support for President Donald Trump.

“Vivek Ramaswamy played a critical role in helping us create DOGE. He intends to run for elected office soon, which requires him to remain outside of DOGE based on the structure that we announced today,” DOGE spokesperson Anna Kelly told the Associated Press.

Ohio Governor Mike DeWine’s second — and legally his last — term will end in January 2027.

On Jan. 18, Ramaswamy re-shared an X post from a parody account using this likeness that stated he was running for governor of Ohio, with the pro-crypto Republican commenting that it wasn’t “a bad idea.”

Politico reported that Musk made it known that he wanted Ramaswamy out of DOGE in recent days. A Republican strategist close to Trump’s advisers told Politico that Ramaswamy “just burned through the bridges and he finally burned Elon. Everyone wants him out of Mar-a-Lago, out of D.C.”

The move was driven in part by Ramaswamy’s criticism of American culture. In December, he made a post on X stating that tech companies hire foreign workers  partly because of a mindset that has “venerated mediocrity over excellence.”

The now-solely Musk-led advisory organization, named after his favored cryptocurrency Dogecoin, was officially created through one of a slew of executive orders that Trump signed on his first day in office.

DOGE is already on the firing line as it was hit with lawsuits from consumer advocate group Public Citizen and other nonprofit groups minutes after Trump took office.

The lawsuits allege that DOGE violates the Federal Advisory Committee Act by allowing private individuals to make government decisions without proper transparency and oversight.

DOGE, which was announced by Trump soon after his electoral victory in November, is designed to slash federal spending through budget cuts and mass firings.

@ Newshounds News™

Source:  CoinTelegraph

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“Tidbits From TNT” Tuesday Morning 1-21-2025

TNT:

Tishwash:  The largest oil reserve was discovered in central Iraq

The Middle Oil Company, in cooperation with the Chinese company (EBS), announced the achievement of a major oil discovery in the East Baghdad South Field.

The company's general manager, Mohammed Yassin Hassan, stated in a statement received by {Euphrates News} a copy of it that the main exploratory well testing operations in the East Baghdad field had achieved great success, as a highly productive oil flow of medium and light oil was obtained.

It is expected to add more than two billion barrels to Iraq's oil reserves, making it the largest oil discovery in central Iraq.

The Director General pointed out that the initial tests of the well showed a daily production rate of up to 5,000 barrels of crude oil.

Yassin praised the fruitful cooperation between Iraqi engineers at the Middle Oil Company and their counterparts at the Chinese EBS Company, which resulted in precise planning and strict implementation of well testing procedures in areas within the oil field.

This discovery is of strategic importance as it adds to Iraq’s oil reserves, which rank fifth in the world in proven reserves. This achievement also enhances the production capabilities of Iraq, one of the founding and influential members of the Organization of the Petroleum Exporting Countries (OPEC), which supports its pivotal role in the global energy market.  link

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Tishwash:  Al-Sudani in a telegram to Trump: We are committed to strategic relations under the umbrella of respect for sovereignty and non-interference

Prime Minister Mohammed Shia Al-Sudani sent a congratulatory telegram today, Tuesday, to US President Donald Trump, on the occasion of his assumption of office as President of the United States of America.

Al-Sudani indicated in the telegram, according to a statement from his office, a copy of which was received by {Euphrates News}, that Iraq aspires to strengthen the bonds of cooperation and partnership with the United States, within the framework of the strategic agreement and the common interests of the two countries, stressing the importance of working to support the foundations of stability, security and development regionally and internationally.

Al-Sudani stated that the Iraqi government adheres to strategic relations with the United States, and seeks to activate and expand the scope of implementing all bilateral memoranda of understanding, and bilateral security and economic coordination, under the umbrella of respect for sovereignty, non-interference in internal affairs, and supporting bilateral exchange in the cultural and technological fields, and the fields of investment and sustainable development.  link

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Tishwash:  President of the Republic: Our participation in Davos confirms Iraq's growing role in the global arena

President of the Republic Abdul Latif Jamal Rashid stressed that Iraq's participation in the Davos talks confirms its growing role in the global arena.

Rashid said in a tweet on the (X) platform, followed by the Iraqi News Agency (INA), "I am proud to see Iraq and the Kurdistan Region well represented in Davos, which is an important annual gathering of global leaders and thinkers. Our participation in these talks confirms Iraq's growing role in the global arena and our commitment to confronting common challenges through dialogue, innovation and cooperation."  link'

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Tishwash:  Directive from the Central Bank regarding the 5,000 dinar banknotes 

The Central Bank stressed, on Monday, that Iraqi banknotes are homogeneous in all their denominations and are accepted by all its branches, and that the delivery of one denomination and the rejection of another by certain banks is a violation of the law, requesting a list of the names of these banks.

text of document:  Date 1/16/2025

Federation of Iraqi Chambers of Commerce / President's Office

m/damaged currency

Greetings.

Your letter No. 1 dated 1/5/2025 regarding banks that refuse to receive small denomination banknotes and the (5,000) dinar denomination.

We would like to inform you that the instructions of this bank stipulate that Iraqi banknotes are homogeneous in their various categories, have absolute legal tender and are accepted by the Central Bank of Iraq, its branches, banks, institutions and the public. Discrimination between their categories by imposing a certain category on the public or refusing to receive a certain category is unacceptable and is considered a violation of the law.

We hope you will provide us with the names of the violating banks that refused to receive banknotes. With appreciation. link

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Mot: Jumping Days 

Mot:  it Has Begun!!!! 

MilitiaMan & Crew Iraq Dinar News-Global Attention-Budget Law-Internally- Externally-Media

MilitiaMan & Crew Iraq Dinar News-Global Attention-Budget Law-Internally- Externally-Media

1-20-2025

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

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

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