Some “Iraq News” Posted by Clare at KTFA 1-29-2025

KTFA:

Clare:  Our relationship with America will become stronger with an initiative that Al-Sudani will announce soon.. Expectations of his advisor

1/29/2025

Farhad Alaa Al-Din, the Prime Minister’s advisor for foreign affairs, confirmed in an article published in the English-language Emirati newspaper “The National” that Iraq offers great opportunities for American companies in the energy sector, confirming that there are discussions with several companies, including Exxon Mobil and Chevron.

He also said that the projects allocated to American companies in the coming years are estimated at tens of billions of dollars, while he expected Prime Minister Mohammed Shia Al-Sudani to announce a pioneering financial initiative that he said could change the business landscape in Iraq and strengthen its relationship with the United States.

The advisor stated that according to Trading Economics, US exports to Iraq in 2023 amounted to $2.26 billion, an increase of 230% over 2022 and 280% over 2021, while total agricultural exports alone amounted to $357 million, which is more than double the 2022 figures and three times the 2021 figures.

Article by Farhad Alaeddin, in The National, translated by 964 Network :

With the change of administration in Washington, many observers expected uncertainty regarding US policy in the Middle East, especially towards Iraq. US President Donald Trump’s priorities clearly focused on domestic issues such as immigration, economic reform, and corporate repatriation. However, his appointment of strong leaders to key foreign policy positions indicated a continued focus on maintaining US influence abroad in general, and in the Middle East in particular.

Mr. Trump and his team have demonstrated their commitment to de-escalation, and their role in helping to broker a ceasefire in Gaza was essential even before the president took office. Mr. Trump has long been engaged in the fight against ISIS, and one of his main campaign promises was the total defeat of the terrorist group.

In a March 2024 interview, he proudly noted his leadership role in the fall of ISIS, saying he “got rid of it.” While the group has been largely physically eliminated in Iraq, where it once held vast territory, it remains a threat in remote areas and now poses a risk of resurgence in Syria, particularly after the collapse of the Assad regime. Clearly, a complete and lasting defeat of ISIS, beyond any chance of recovery, will require, and indeed will be essential, strong cooperation between Iraq and the United States.

Iraq and the United States can share many security, political, and economic issues for mutual benefit. Regionally, Iraq stands out as an anchor of stability and an important player in diplomacy. Under Prime Minister Mohammed Shia al-Sudani’s “Iraq First” policy, the country has adopted a moderate and inclusive approach that prioritizes shared interests. This position enhances the country’s influence in the region and underscores its importance as a partner for the United States in maintaining stability.

The strong and thriving U.S.-Iraq relationship promotes stability and prosperity in the region, but the U.S.-Iraq relationship extends beyond military and security cooperation, encompassing sectors as diverse as energy, agriculture, education, and economic development. Al-Sudani is currently leading Iraq through an ambitious reconstruction effort, with funding exceeding any allocation in the past two decades.

Iraq offers significant opportunities for U.S. companies in the energy sector, with discussions underway with major companies such as ExxonMobil and Chevron, along with initiatives involving General Electric, Baker Hughes, KBR, and Halliburton. Overall, projects for U.S. companies could be worth tens of billions of dollars over the next few years.

 Financial institutions, including the Export-Import Bank and the International Monetary Fund, have expressed interest in supporting these efforts.

 Notably, the prime minister is expected to announce a major financial initiative that could change the business landscape in Iraq and further strengthen its relationship with the United States.

American companies are increasingly drawn to Iraq, as evidenced by the growing activities of the US-Iraq Business Council, while the events of the American Chamber of Commerce in Iraq now attract more American companies than ever before.

According to Trading Economics, a data and forecasting firm, U.S. exports to Iraq reached $2.26 billion in 2023—a significant 230 percent increase from 2022 and 280 percent higher than 2021. Agricultural exports alone totaled $357 million, more than double the 2022 figures and three times the 2021 figures. These figures are expected to rise significantly in 2024 and 2025, and U.S. farmers, in particular, will benefit from this burgeoning trade relationship.

In addition, the Iraqi government has approved a program to send 5,000 students abroad for master’s and doctoral studies, with approximately 3,000 students to study in the United States. American universities will benefit greatly from this initiative, along with collaboration with institutions such as the American universities in Baghdad, Duhok, and Sulaymaniyah.

Al-Sudani described relations with the United States as “strategic” and “institutional,” emphasizing the depth of this partnership in his recent media appearances, and in particular, in an interview with Elaph in London, hours before Mr. Trump’s inauguration on January 20, the prime minister said that Iraq “is ready to cooperate with the new administration.” He stressed that this relationship is based on the joint strategic framework agreement between the two countries, “as well as our partnership in the international coalition to fight ISIS.”

A strong and prosperous relationship between the United States and Iraq promotes stability and prosperity in the region, benefiting the interests of both countries and their people. Through strategic cooperation in security, economics, and diplomacy, this partnership has the potential to shape a more stable and prosperous Middle East.   LINK

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Clare:  In the presence of the Kurdistan Interior Ministry.. Baghdad hosts a meeting to implement the security agreement with Iran

1/29/2025

The Iraqi National Security Advisory hosted, on Wednesday, a meeting of the Supreme Committee for Implementing the Security Agreement between the Republic of Iraq and the Islamic Republic of Iran.

An official Iraqi statement received by Shafaq News Agency stated that the National Security Advisor, Qasim Al-Araji, headed the Iraqi delegation, in the presence of the Minister of Interior of the Kurdistan Region, Reber Ahmed, and representatives of the region, while the Iranian delegation was headed by Abdul-Reza Maskarian.

The meeting witnessed a review of the measures taken by the two countries to implement the terms of the agreement, in addition to discussing the current obstacles and challenges, and the necessary measures to expedite the implementation of the agreement.

During the meeting, Al-Araji stressed the Iraqi government's keenness not to use Iraqi territory as a launching pad for attacks on neighboring countries, while it was agreed to hold a subsequent meeting in the Kurdistan Region to complete the discussions.  LINK

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Clare:  Chairman of the Finance Committee: Charting a new path to manage the financial situation in Iraq

1/29/2025  Baghdad 

The head of the Finance Committee in the House of Representatives, Atwan Al-Atwani, confirmed today, Wednesday, that the committee has placed at the top of its priorities charting a new path for managing the financial situation in the country, by enhancing non-oil revenues.  

A statement by the Finance Committee, received by "Mawazine News", stated that Al-Atwani, accompanied by the delegation currently visiting the United Kingdom, met separately with Baroness Baroness de Sousa and Director of the Oversight Unit in the British House of Commons Alex Knight, in the presence of specialists from the International Partners Foundation.  

The statement indicated that the meetings addressed the prospects for cooperation between the Finance Committee in the Iraqi Council of Representatives and the relevant committees in the British House of Commons, with the aim of exchanging experiences in legislative and oversight work in a way that serves common interests.  

Al-Atwani explained, after reviewing the structure of the British House of Commons and the House of Lords, that the Iraqi Council of Representatives needs to create permanent specialized formations of experts to chart the path of legislative work, and complete the requirements for enacting laws in a way that achieves the country's supreme interests and is consistent with development plans.  

He stressed that strengthening the legislative authority with specialized formations will contribute to maturing laws and determining the actual need for legislation, away from personal interpretations.  

Al-Atwani also stressed the need to reduce dependence on oil as a primary source of revenue, noting that Iraq has other financial resources that can form basic pillars of the budget, such as customs, taxes, investment of state assets, the communications sector, and other government services.  LINK

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Clare:  The Council of Ministers issues a series of decisions to develop airports and support parliamentary elections with about 400 billion dinars

1/28/2025

Prime Minister Mohammed Shia Al-Sudani chaired the fourth regular cabinet session of the current year today, Tuesday, during which the general conditions in the country were discussed, important files and priorities of the government program were discussed, in addition to discussing the topics on the agenda and taking the necessary decisions regarding them.

 The Council of Ministers followed up on the energy file, as it approved the inclusion of the Majnoon oil field in social benefit projects, equal to what is in effect in other licensing contracts, and enabling the Ministry of Oil/Basra Oil Company to implement service projects in accordance with the mechanism set out in Cabinet Resolution (24318 of 2024) regarding the implementation of social benefit projects for licensing round contracts, as well as the Ministry of Finance allocating an amount of (10) million dollars annually from the Majnoon oil field account, to implement the projects under discussion within the planning budget of the company operating the field/Basra Oil Company.

In order to develop and organize the work of airports, the following was approved:

1. The Ministry of Transport shall contract with the specialized international consultant (International Finance Corporation IFC) to prepare the investment booklet for the management, operation and development of airports (Basra, Mosul, Dhi Qar and Najaf), in partnership with the private sector (PPP) according to a specific timetable in cooperation and coordination with the Civil Aviation Authority, and the cost of the consulting study shall be borne by the winning bidder and a portion by the relevant governorate.

2. The Ministry of Transport or the governorate (in which the airport is established) shall be responsible for contracting with the party with which the partnership is required (the winning bidder), in coordination between the aforementioned ministry and the governorate in which the airport is established.

3. The Ministry of Transport shall supervise and monitor the airports, including the revenues generated from the airport and employment in it, in coordination with the governorate in which the airport is established, which shall be the liaison with the federal government in facilitating all relevant government procedures.

4. The management of passports, customs, health, security, airport security, air traffic control, standardization and quality control at airports shall be the exclusive responsibility of the federal government.

5. Baghdad International Airport is excluded from the aforementioned paragraph (2), and the Ministry of Transport remains the contracting party with the investor.

In the same context, the Council of Ministers approved the following:

1. The Ministry of Transport/Iraqi Airways shall pay the fees due after signing the investment or partnership contract in accordance with the civil airports wage system (No. 6 of 2018).

2. The Ministry of Transport shall negotiate with investors or participants in airport management to determine the minimum amount of airport revenues that must be guaranteed by the Iraqi side, and the negotiation minutes shall be submitted to the Council of Ministers to enable the Ministry of Finance to provide the required guarantees.

3. The Ministry of Transport shall agree with the investor or participant in airport management to include a clause in the contract that includes determining the amount of compensation to be paid, in the event that the airport management or any government agency with jurisdiction terminates the investment or partnership contract by its sole will before the end of the contract term.

4. The Ministry of Transport, the Civil Aviation Authority and the Advisory Board shall prepare a draft amendment to the airports wage system No. (6 of 2018), ensuring that the issue of fees collected is addressed in accordance with the aforementioned system, in a manner consistent with the nature of contracts and the economics of the air transport market.

As part of the financial reform measures, the Council approved the preparation of a draft law stipulating that the work of the Insurance Bureau be linked to the Central Bank of Iraq, as the Bureau is one of the non-banking financial institutions that works to regulate and supervise the insurance sector, in a way that ensures its development and secures an open, transparent and financially secure market.

In the field of tax cooperation, it was agreed to authorize the Director General of the General Tax Authority at the Ministry of Finance to negotiate and initial the draft agreement to avoid double taxation and prevent evasion of taxes imposed on income and capital between the Government of the Republic of Iraq and the Government of the Sultanate of Oman, based on the provisions of the Constitution. The Ministry of Foreign Affairs shall prepare the necessary authorization document in the name of the Government of the Republic of Iraq for the Director General of the Authority, and submit it to the General Secretariat of the Council of Ministers in order to obtain the signature of the Prime Minister.

With the aim of developing trade and simplifying procedures, the Council of Ministers approved the draft (E-commerce Regulation System in Iraq).

The Council also approved the draft law amending the first law of the Sunni Endowment Diwan (56 of 2012), which was reviewed by the State Council and referred to the House of Representatives, based on the provisions of the Constitution, taking into account the observations of the Legal Department in the General Secretariat of the Council of Ministers.

As part of the government’s efforts to develop Baghdad’s heritage areas, the Council of Ministers approved the exemption of the rehabilitation project of the heritage Qishla building (Al-Aqsa Post Office) from the instructions for implementing government contracts (2 of 2014) and the controls attached thereto, and contracting with the company nominated by the Ministry of Culture, Tourism and Antiquities.

As part of the government’s efforts to resume work on stalled and suspended projects, the Council of Ministers approved the following:

1. Establishing a component (equipping medical devices, medical and office furniture with medical supplies) within the components of the (Mosul Hospital Rehabilitation) project included in the Ministry of Health's investment budget tables for the year 2023, with a new contract according to the controls, and increasing the total cost of the project.

2. Increasing the reserve amount and the total cost of the (Residential Complex in Diyala Governorate/Al-Ghalibiya) project, and increasing the amount of supervision and monitoring.

3. Increasing the reserve amount and the total cost of the (Residential Complex in Wasit Governorate/Zurbatiya) project.

4. Increasing the reserve amount for the (Construction of Classrooms) component included within the components of the (Design and Implementation of Engineering Complex Buildings) project at the University of Babylon, and increasing the amount of supervision and monitoring, and establishing a component called (the amount of increase in unpaid dues for the Classroom Construction Component), and increasing the total cost of the main project.

As part of the government's efforts to provide support for the parliamentary elections, the Council of Ministers approved the inclusion of the difference amounting to (294.370) billion dinars, within the tables of estimates of the federal general budget for the year 2025, based on the provisions of the Federal General Budget Law (13 of 2023), so that the amount becomes (398.600) billion dinars, for the purpose of covering the costs of implementing the 2025 House of Representatives elections, as an exception to the instructions for implementing government contracts (2 of 2014), and the instructions for facilitating the implementation of the budget law (1 of 2023), and amending the text of the budget law for the years (2023, 2024, and 2025) sovereign expenditures, including the House of Representatives elections.   LINK

Seeds of Wisdom RV and Economic Updates Wednesday Morning 1-29-25

Good Morning Dinar Recaps,

ELON MUSK’S X PARTNERS WITH VISA TO BUILD FUTURE PAYMENT SYSTEM WITH X MONEY

X CEO Linda Yaccarino announces a groundbreaking partnership with Visa for X Money, enabling real-time fund transfers and debit card connectivity as the platform expands into financial services.

▪️X has secured money transmitter licenses in over 40 states and FinCEN registration, laying groundwork for comprehensive financial services.

▪️The platform will allow users to fund X wallets via Visa Direct, highlighting Musk's strategy to transform X into an all-encompassing service.

▪️While promising innovative features for creators and users, the platform faces scrutiny over potential financial control and social credit concerns.

Elon Musk’s social media platform X has partnered with Visa to manage person-to-person payments for its upcoming X Money product. X CEO Linda Yaccarino announced that the partnership is the first of many major announcements related to X Money this year.

Yaccarino shared that Visa is the first partner for the X Money account, which is expected to launch before year’s end.

 She explained that Visa will allow the platform users to fund their X wallets via Visa Direct, connect their debit cards for person-to-person payments, and transfer funds instantly to a bank account.

On December 31, the X CEO hinted at what users can expect this year, saying, “2025 X will connect you in ways never thought possible.   X TV, X Money, Grok and more.”

Visa confirmed the partnership in a post, noting that it will enable U.S. X Money Account users to fund their accounts and transfer money in real-time using their debit cards through Visa Direct. The company stated:

“We’re excited to partner with XMoney on the launch of X Money Account. Visa Direct will make it possible for US X Money Account users to fund and transfer money in real-time with their debit card.”

Musk’s Plans to Evolve X Into an All-in-One Platform

Elon Musk has shared his vision of transforming X from a social media platform into an “everything app.” He has promised to make X a platform where users can conduct their financial activities. 

This collaboration with Visa signals a step toward realizing that vision. While the launch date for X Money remains unknown, more partners may join. According to CNBC, one of the initial uses for X Money will be enabling creators to receive payments and store funds independently.

In November 2022, Musk hinted during a publicly broadcast meeting with advertisers on Spaces that the platform’s upcoming payments product could eventually include banking features, such as a high-yield money market account.

X has successfully obtained money transmitter licenses in more than 40 states for its X Payments subsidiary and is registered with the Financial Crimes Enforcement Network (FinCEN) as a Money Service Business (MSB). App researchers have discovered code linked to X Money that outlines features like loading money into a wallet on the platform and making payments to other users.

Concerns Over X’s Financial Ambitions

Despite the excitement around X Money’s potential, there are concerns about the platform’s growing financial reach. Dominic Michael Tripi, a commentator with over fifty thousand followers on X, raised doubts about X’s control over user finances. 

He pointed out that if the platform can take actions like removing a user’s verification checkmark or suspending an account, it could potentially control access to users’ funds. He wrote:

“If they can take away your checkmark or suspend your account, they can take away your money. This is a precursor to a social credit system.”

@ Newshounds News™

Source:  CoinSpeaker

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BRICS: SAUDI ARABIA MEMBERSHIP DECISION TO IMPACT 2 KEY THINGS

Out of the nations that BRICS invited to join the bloc in 2023, Saudi Arabia is one of the few that hasn’t officially joined yet. The Kingdom has been weighing the decision to join the alliance for over a year, with major geopolitical implications in the balance. 

Faisal Al-Ibrahim, Minister of Economy and Planning, explained during the World Economic Forum in Davos that the kingdom is prioritizing a thoughtful approach to the decision, and doesn’t want to rush.

He stated that the country remains focused on the goal of “global dialogue” and carefully examines the “numerous aspects” related to a potential membership. According to him, this decision goes beyond economic considerations and involves complex strategic implications.

“The risks to economic cohesion, fiscal robustness, lingering inequalities, and energy access are not unconnected and affect us all,” the minister writes. “As such, tackling them demands bold, collaborative action and solutions.”

Al-Ibrahim also added at the forum,” “The kingdom is always focusing on fostering more global dialogue,” and that the Kingdom will come to an “appropriate decision.”

How Will Saudi Arabia Joining BRICS Affect the Alliance and Kingdom?

The BRICS alliance will get a boost in the arm if Saudi Arabia accepts the invitation and joins the bloc. Saudi Arabia is rich in cash flow and can fund the projects of the New Development Bank (NDB). The Kingdom is also oil-rich and can allow BRICS to control nearly 42% of the world’s natural oil sector.

On the other hand, Saudi Arabia does not want to sever ties with the West by joining the BRICS alliance. The Middle Eastern country wants to maintain a balance between the West and other developing countries. Riyadh is deeply interested in strengthening economic and diplomatic relationships with other major powers.

 Most importantly, China is Saudi Arabia’s top trading partner, and Riyadh is the main supplier of crude oil to Beijing. These ties have only grown as the kingdom pursues its Vision 2030 plan to diversify its economy.

 The success of its Vision 2030 needs the help and assistance of all countries combined. Losing one for the other would prove costly to Saudi Arabia’s economy.

In conclusion, Saudi Arabia’s decision to join or not to join BRICS will have plenty of implications not just on the Kingdom or the alliance, but several geopolitical outcomes. The Kingdom continues to weigh its options, and likely will not rush to a final decision.

@ Newshounds News™

Source:  Watcher Guru

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ONDO TO BRING TOKENIZED US TREASURYS TO XRPL

Ondo Finance said Tuesday (Jan. 28) that it will bring tokenized U.S. Treasurys to the XRP Ledger (XRPL).

This collaboration will offer institutional investors access to Ondo Short-Term U.S. Government Treasuries (OUSG), which are backed by the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) and can be instantaneously minted and redeemed at any time using the Ripple USD (RLUSD) U.S. dollar-denominated stablecoin, the companies said in a Tuesday (Jan. 28) press release.

“This integration is the natural convergence of a compliance-first, yield-bearing product with a network purpose-built for institutional adoption, setting the groundwork for forward-thinking institutions to lead a new era of capital markets onchain,” Ondo Finance Vice President of Partnerships Katie Wheeler said in the release.

Ondo and Ripple have secured commitments to seed OUSG liquidity upon deployment, according to the release.

The companies’ collaboration will meet institutional demand for tokenized U.S. Treasurys that offer liquidity, efficiency and transparency in capital markets, the release said.

Bringing OUSG to XRPL will provide a solution that provides institutional-grade security, accessible liquidity, and seamless tokenization and trading of real-world assets (RWAs), per the release.

“The 24/7 intraday settlement enabled by tokenized assets like OUSG marks a transformative shift in capital flow management, breaking free from traditional trading hours and slow settlements,” Markus Infanger, senior vice president, RippleX, said in the release.

The tokenization of RWAs has captured the imaginations of various players across payments, finance and commerce because it has the potential to make assets more liquid, accessible and efficient, PYMNTS reported last April.

Ripple and Archax extended their existing collaboration in June, saying they aimed to bring hundreds of millions of dollars of tokenized RWAs onto XRPL. Because Archax works with financial institutions to enable them to tokenize their financial RWAs, the collaboration will allow those institutions to select the XRPL to do so.

In February, Ondo Finance and Aptos Foundation partnered on the integration of RWAs with blockchain technology, beginning with the integration of Ondo’s tokenized U.S. Treasurys product, USDY, onto the Aptos blockchain. The partnership also sets the stage for a series of financial products using the strengths of the two organizations.

@ Newshounds News™

Source:  Pymnts

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“Tidbits From TNT” Wednesday Morning 1-29-2025

TNT:

Tishwash:  The Finance Committee: Our priorities are to chart a new course for managing the financial situation

The head of the Finance Committee, Atwan Al-Atwani, confirmed today, Wednesday, that the committee has placed at the top of its priorities the development of a new path for managing the financial situation.

A statement by the Finance Committee received by the Iraqi News Agency (INA) stated that "the head of the Finance Committee, Atwan Al-Atwani, met with the delegation currently visiting the United Kingdom, Lord Baroness de Sousa and the Director of the Oversight Unit in the British House of Commons, Alex Knight, each separately, in the presence of specialists from the International Partners Foundation."

He explained that "the discussions were held on the prospects of joint bilateral cooperation between the Finance Committee in the Iraqi Council of Representatives and the specialized committees in the British House of Commons in terms of legislative and oversight work and the exchange of expertise in all fields, in a manner that serves the interests of the two friendly peoples."

The statement continued, "After reviewing the structure of the British House of Commons and the House of Lords and the role of each of them, Al-Atwani stressed the need for the Iraqi Council of Representatives to establish permanent specialized formations of experts and specialists whose mission is to chart the course of legislative work and complete the requirements for enacting laws and consolidating legislation in a manner that achieves the country's supreme interests and is consistent with development plans and service programs."

He pointed out that "strengthening the work of the legislative authority with these specialized formations would mature the laws and assess the government's actual need for the legislation to be enacted, away from personal interpretations."

During his discussions, Al-Atwani reviewed "a number of files and topics of common interest," noting that "his committee has prioritized charting a new path for managing the financial situation in the country through a gradual transition to relying on non-oil revenues, especially since Iraq has financial revenue outlets that can be pillars of building the budget, including customs, taxes, investment of state assets, communications, and other government services."  link

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Tishwash:  Central Bank Governor announces imminent launch of major initiative to finance industrial projects

The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Tuesday, the imminent launch of an initiative to finance industrial projects, while pointing out that financial stability is no less important than political and security stability.

The Governor of the Central Bank, Ali Al-Alaq, said in a dialogue session during the Iraq Energy Conference, which was followed by "Al-Eqtisad News", that "the initiatives undertaken by the Central Bank represent tools to move the wheel of development and enhance economic stimulus, and they are unconventional policies aimed at supporting the overall economy.

" He added that "the Central Bank is one of the global banking institutions that adopt unconventional monetary policies," noting that "the size of the accumulations in the aspects of backwardness in the infrastructure is a major challenge."
He explained that "the Central Bank is concerned with achieving economic stability, especially since energy factors are directly linked to the economic situation by supporting factories, companies, and others."

He pointed out that "the Central Bank intervenes in supporting and financing various projects, including renewable energy projects, whether through direct or indirect support."
He pointed to "the importance of monetary and financial stability," indicating that "it is no less important than political and security stability."

He continued that "the Central Bank has launched multiple initiatives to finance real estate and small and medium-sized projects, as projects worth 13 trillion dinars have been financed since 2016 until now, which has contributed to the sustainability of the economy, in addition to allocating 1 trillion dinars to encourage citizens and companies to purchase solar energy units."

He added that "there are ongoing arrangements to finance industrial projects in coordination with the Trade Bank of Iraq and the Industrial Bank," indicating that "the liquidity available at the Trade Bank of Iraq will be used to support these projects, in addition to the funds of the Industrial Bank, with the aim of launching a major initiative to finance industrial projects, which is expected to see the light soon."

He stressed that "the Council of Ministers has agreed to enhance cooperation between government banks with a financial surplus to finance industrial projects through the Industrial Bank, as it is the competent authority in this field," stressing "the imminent launch of this major initiative  link

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Al-Sudani: We are a cornerstone in the stability of energy markets.. This is how we are viewed

Prime Minister Mohammed Shia al-Sudani said on Tuesday that Iraq has become a cornerstone in the stability of global energy markets, and is on the path to becoming a regional center for energy industries, indicating that countries have begun to view it in this way, and its position has begun to acquire a brighter image, during his speech at the Iraq Energy Conference.

Al-Sudani's office said in a statement:

Prime Minister Mohammed Shia Al-Sudani inaugurated today, Tuesday, the Iraq Energy 2025 Conference, which was held by the Iraq Development Platform in the capital, Baghdad, under the slogan (Together for a Promising Energy Future).

His Excellency stressed, in his speech, that the conference is an opportunity to learn about the state’s policies and programs in the energy sector, which occupies a pivotal position in all the government’s development plans and its commitment to modernizing and developing it, in parallel with the goal of diversifying the economy, in a way that positively reflects on other sectors.

The Prime Minister explained that a tangible digital achievement has been made since the government assumed its responsibility, through a set of commitments, most notably stopping gas flaring by 70%, benefiting from oil wealth, investing in natural gas, and expanding the production of petroleum derivatives, stressing the approach to full self-sufficiency in fuels and moving towards exporting gas oil, within a vision that aims to convert 40% of oil production into transformation industries by 2030.

Mr. Al-Sudani added that the government has proposed integrated energy projects to expand the benefit from oil production in one location, the most important of which is the Artawi field in Basra Governorate, and the accompanying project to desalinate seawater, generate solar energy, in addition to investing in gas, indicating that maximizing the non-oil economy is accompanied by maximizing returns from oil wealth, through expanding refining operations and petrochemical industries.

The following are the highlights of the Prime Minister’s speech during the conference:

The government has moved towards diversifying sources of income horizontally to solve the problems of unemployment and the single economy, towards creating real job opportunities.

Partnership with the private sector was the first window for development, and one opportunity to work with it leads to the creation of many other opportunities.

The government has relied on strategic projects that support all sectors of development and the economy, the most important of which is the “Development Road.”

We have included in the design of the development road lines lines for transporting oil and gas, in addition to communications to achieve the connection between Asia and Europe, and to provide investment opportunities.

We have developed a plan to invest in human capital and develop capabilities and skills to keep pace with technology and techniques, especially with the expansion of artificial intelligence applications.

The electricity sector has become an important developmental and economic nerve, and it can be transformed into a basic gateway to development in Iraq.

Developing the energy transmission and distribution network, and adopting modern and smart technologies, will reduce waste, lower harmful emissions, and enhance sustainable development.

The Ministry of Electricity announced the new economic model for thermal power plants that aims to produce an additional 15,000 megawatts.

The large and important package of energy production projects for gas stations will be announced according to the new model.

Partnership with the private sector is important to save time and effort in confronting climate change and addressing water scarcity in Iraq.

We sought to introduce renewable, clean and alternative energy elements, and we started actual implementation in the field of solar energy.

We have renewable and clean energy projects that will have a production capacity of 4,875 megawatts upon completion.

Purchase of home solar energy systems as part of the Central Bank’s support for the (1 trillion dinars) initiative of loans.

We are proceeding with the electrical connection with the Gulf countries and Turkey, reaching the European Union electricity grid, to achieve diversity and integration in the energy field.

Iraq's global standing is gaining a brighter image in economic growth, reforms and increased levels of cooperation in all energy forums.

Iraq has become a cornerstone of global oil market stability and is on its way to becoming a regional energy hub.

Iraq contributes to the stability of the global oil market by relying on a strong and solid economy. link

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Mot:  .. the Ironies of Life!!!! 

Mot: .... Bestest Advice Ever  

Iraq Economic News and Points to Ponder Tuesday Evening 1-28-25

Government Advisor Reveals Iraq's Gold Reserves And Hedging Against "Ill-Considered Races" To Buy It

Time: 2025/01/27 19:17:28 Read: 1,410 times   {Economic: Al Furat News} The economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed Iraq’s gold reserves, which are estimated at about 152 tons.

Saleh told {Euphrates News} that: "The gold reserve is undoubtedly an important part of Iraq's foreign exchange reserves, as it contributes to enhancing financial stability and confidence in the national currency. According to the announced data, gold reserves have reached about 152 tons."

He added, "The approximate value of it in the country's foreign investment portfolio is about $14 billion, which constitutes about 13% of the total diversification of that portfolio, which is distributed in standard proportions among other foreign currencies."

Saleh promised that gold is "a safe haven for the balance of the aforementioned investment portfolio, especially when the exchange rates of some currencies or the fluctuation of interest on investing in those currencies are exposed to uncalculated risks in the short term as a result of decline or fluctuation."

He pointed out that "central banks often follow standard guidelines, including our country, in diversifying their investment portfolios in foreign currency, which adopts many criteria, including the density of commercial areas with which they deal in global trade and investment."

Saleh added, "Our country is monitoring this diversification with great precision and with accurate advisory coverage, and it is not necessary to enter into ill-considered races in the yellow metal markets," indicating that "gold often carries its management costs, whether insurance or storage fees in global gold vaults, according to highly accurate mechanisms."

He stressed that "its importance lies in the possibility of issuing bonds when needed, called gold bonds guaranteed by gold," noting that "there are currently buying sprees in the world due to the change in the US administration and the rise in its prices."

According to the statement of Al-Sudani's advisor, "the state of uncertainty surrounding the new US administration has led to a rise in gold prices globally, as gold is a safe haven for investors in times of instability," noting that "despite this, strengthening gold reserves depends on the decisions of the monetary authority and its strategies in maintaining economic stability, and taking the necessary measures at the appropriate time."   LINK

Oil: Iraq's Production Will Reach 7 Million Barrels Per Day And These Are Our New Projects To Enhance Self-Sufficiency

Tuesday 28 January 2025 17:48 | EconomicNumber of readings: 152   Baghdad / NINA / The Ministry of Oil revealed that Iraq's oil production will touch 7 million barrels per day during the next five years, while confirming the completion of new refining projects in the Basra and North refineries, with a total capacity of 220 thousand barrels per day to enhance self-sufficiency in oil derivatives.

Undersecretary of the Ministry of Oil Ali Maaraj said, during his participation in a dialogue session within the activities of the Iraq Energy Conference, which kicked off today, Tuesday, in the capital, Baghdad, that "the ministry seeks to increase production capacity, which will touch 7 million barrels of oil per day during the next five years, as well as address the burning of associated gas and reach zero filler during the same period, and stop importing oil derivatives soon."

He added, "For the first time, Iraq is witnessing the implementation of integrated projects in the oil sector, including oil extraction, refining, and petrochemical industries, as well as electricity generation and transformation industries such as fertilizers. These projects include the "Basra Integrated Project, the Total Project, and other projects in Nasiriyah and Qayyarah."

He explained that "the Ministry of Oil referred" the fifth licensing round, which had been suspended for more than four years, followed by the sixth licensing round and the fifth round supplement, "as well as referring the development of the Artawi oil field, which includes integrated projects including oil extraction, gas processing, seawater desalination, and energy generation through solar stations."

Regarding gas flaring cessation projects, the Undersecretary of the Ministry confirmed that significant progress has been made in the field of treating associated gas, after launching new processing units with a total capacity of 600 million standard cubic feet in the governorates of Basra, Maysan, and Dhi Qar, "noting the suspension of the import of white oil derivatives and gas oil, while working to stop the import of gasoline soon.

The Undersecretary of the Ministry of Oil reiterated the ministry's commitment to preserving the environment and reducing carbon emissions through clean and renewable energy projects, including modernizing refineries and establishing modern facilities according to "Euro 5" and "Euro 4" standards, which contributes to improving the quality of products and reducing pollution.

He continued by saying that "the Ministry of Oil supplies the Ministry of Electricity with all types of derivatives, at a rate of 10,000 liters of gas oil per day," noting that "Iraqi refineries produce 30,000 cubic meters of gas oil, and some products are exported to support the state budget."

He added that "the Ministry of Oil has self-sufficiency in white oil and factories to improve gasoline," indicating that "the production of national refineries currently covers the local need for white oil, black oil and gas oil." / End 5  https://ninanews.com/Website/News/Details?key=1182519

Central Bank Governor Announces Imminent Launch Of Major Initiative To Finance Industrial Projects

Local | 03:43 - 01/28/2025   Mawazine News – Baghdad   The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Tuesday, the imminent launch of an initiative to finance industrial projects, while indicating that financial stability is no less important than political and security stability.

The Governor of the Central Bank, Ali Al-Alaq, said in a dialogue session during the Iraq Energy Conference: "The initiatives undertaken by the Central Bank represent tools to move the wheel of development and enhance economic stimulus, and they are unconventional policies aimed at supporting the overall economy."

He added that "the Central Bank is one of the global banking institutions that adopt unconventional monetary policies," noting that "the size of the accumulations in the aspects of backwardness in the infrastructure is a major challenge."

He explained that "the Central Bank is concerned with achieving economic stability, especially since energy factors are directly linked to the economic situation through supporting factories, companies, and others."

He pointed out that "the Central Bank intervenes in supporting and financing various projects, including renewable energy projects, whether through direct or indirect support."

He pointed to "the importance of monetary and financial stability," indicating that "it is no less important than political and security stability."

He added that "the Central Bank has launched multiple initiatives to finance real estate and small and medium enterprises, where projects worth 13 trillion dinars have been financed since 2016 until now, which has contributed to the sustainability of the economy, in addition to allocating 1 trillion dinars to encourage citizens and companies to purchase solar energy units."

He added that "there are ongoing arrangements to finance industrial projects in coordination with the Trade Bank of Iraq and the Industrial Bank," indicating that "the liquidity available at the Trade Bank of Iraq will be used to support these projects, in addition to the funds of the Industrial Bank, with the aim of launching a major initiative to finance industrial projects, which is expected to see the light soon."

He stressed that "the Council of Ministers has approved enhancing cooperation between government banks with a financial surplus to finance industrial projects through the Industrial Bank, as it is the competent authority in this field," stressing "the imminent launch of this major initiative." https://www.mawazin.net/Details.aspx?jimare=259115

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

Seeds of Wisdom RV and Economic Updates Tuesday Evening 1-28-25

Good Evening Dinar Recaps,

MICROSOFT (MSFT) TO BUY TIKTOK? WHAT IT WOULD MEAN FOR THE STOCK

In a rather surprising development for the company, Microsoft (MSFT) has been rumored to be among those in play to buy TikTok. Indeed, the tech company is one of a slew of high-profile names looking to purchase the immensely popular social media platform, as it looks to secure a US buyer.

US President Donald Trump told reporters Monday that the Windows software developer was “nalized, it would certainly have massive implications for the company’s stock.

Microsoft Looking to Buy TikTok, Trump Says: Why It Could be Huge for MSFT

One of the ongoing business world developments that has caught the attention of the general public has been the race to buy TikTok. Indeed, the incredibly popular application was faced with a nationwide banning as the Biden administration left office.

Early into his second term, Donald Trump signed an executive order to delay that ban by 75 days.

Yet, it has not changed the necessity for the social media platform to be purchased. Now, all eyes are on prospective buyers. There is no shortage of interest, but there have also been no concrete offers being made. That may be changing now, as Microsoft (MSFT) may be in line to buy TikTok.

Trump has confirmed Microsoft’s interest while also noting the process is ongoing. He assured that he is in discussion with multiple parties to purchase the app. Moreover, he noted that the situation would likely be resolved over the next 30 days.

The platform is incredibly popular, with over 170 million American users. Yet, ByteDance, its Chinese owner, has not commented on Microsoft, or any companies, acquisition interest. There is no denying that a sale would be huge for anyone.

However, it could be massive for Microsoft in particular. The firm has not been shy about making significant investments in recent years. It purchased OpenAI after the rise of ChatGPT for $13 billion. That has been called some of the “best money ever spent.” 

Similarly, TikTok could have interesting potential as it creates an avenue of entry for the Microsoft developer into the social media sector

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

PRO-CRYPTO SENATOR LUMMIS FILES LEGAL BRIEF SUPPORTING COINBASE AGAINST SEC

Pro-crypto Sen Cynthia Lummis has filed an amicus brief to support the Coinbase against the US SEC

▪️Senator Cynthia Lummis has filed an Amicus Brief for Coinbase in SEC Lawsuit.

▪️The Senator accused the SEC of overstepping its regulatory authorities.

▪️She wants the court to side with Coinbase and define the SEC’s powers.

Senator Cynthia Lummis, a pro-crypto Republican, is intensifying her fight against the US Securities and Exchange Commission (SEC) policies under former Chair Gary Gensler in support of Coinbase Global Inc.

According to The Block, Lummis recently filed a 29-page amicus brief supporting Coinbase’s appeal against the SEC’s lawsuit. Her legal brief accused the regulatory agency of overreaching in its ongoing case, undermining Congress’s authority over digital assets.

The Case Against Coinbase: Lummis Steps In

The SEC’s lawsuit against Coinbase has become a flashpoint in the debate over the agency’s regulatory overreach. The agency accused Coinbase of operating as an unregistered exchange, broker, and clearing agency.

In response, Coinbase filed an appeal, arguing that the SEC’s actions are unjust and unconstitutional. The exchange claimed the lawsuit infringed on Congress’s authority to create laws.

Binance asked for clearer rules on how federal securities laws apply to crypto. The SEC’s refusal to approve the exchange’s request led to calls for court intervention.

As reported by Coinspeaker, the court sided with Coinbase, ordering the SEC to clarify its decision to reject the petition for crypto-specific regulations.

Senator Lummis, a staunch crypto and blockchain technology advocate, backed Coinbase’s position. In her brief, Lummis argued that the SEC’s aggressive approach to crypto registration is legally flawed and fundamentally un-American.

She criticized the agency’s classification of many digital assets as securities under Chair Gary Gensler. This move enforces strict registration rules that do not fit well with how digital assets work.

The Republican Senator criticized the SEC for being secretive and unfair in enforcing rules. She accused the agency of changing securities laws without being open or accountable.

She emphasized that Congress, not the SEC, has the constitutional authority to set the securities and commodities regulation framework.

Lummis emphasized the need for clear and fair laws to guide the future of the crypto industry. She urged the Second Circuit Court to step in and define the limits of the SEC’s authority.

Shifting SEC Stance Under a New Administration

Senator Lummis is gaining influence, especially with her new role as chair of the Senate Banking Committee panel focused on digital assets. She is working on bills to define the SEC’s role and pushing for laws that create a fairer balance for crypto regulation.

This includes one that would have digital asset exchanges register with the US Commodity Futures Trading Commission (CFTC) instead of the SEC. With President Donald Trumpnow in office, Senator Lummis expects the landscape for crypto regulation to undergo significant changes.

President Trump has nominated Paul Atkins, a crypto-friendly former regulator, as the new head of the SEC. Many in the crypto community hope the agency’s stance on digital assets could become more favorable.

This is due to Atkins’s background in supporting less stringent regulations for digital assets. This shift could lead to clearer guidelines and boost confidence in the market.n

@ Newshounds News™

Source:  CoinSpeaker

~~~~~~~~~

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System Collapse Imminent, Plunder Within Unfolds, Brace for Wild Moves in Gold and BTC

System Collapse Imminent, Plunder Within Unfolds, Brace for Wild Moves in Gold and BTC

Daniela Cambone:  1-27-2025

The United States’ global dominance is teetering on the edge, according to Willem Middelkoop, CEO of the Commodity Discovery Fund and author of “The Big Reset: War on Gold and the Financial Endgame.”

In a recent interview with Daniela Cambone on ITM Trading, Middelkoop argues that the current political and economic landscape is indicative of an empire entering its final phase, pointing to increasingly desperate measures and a looming financial reset.

Middelkoop’s assessment is stark. He highlights former President Donald Trump’s controversial proposals, such as the idea of taking over the Panama Canal, as a symptom of this decline. “When you reach the end of an empire, that’s what you’re going to see,” he stated, suggesting that such actions reflect a desperate attempt to cling to power and resources as the U.S. loses its grip on global leadership. These bold, and often ethically questionable, proposals, Middelkoop implies, are not signs of strength, but rather the desperate flailing of a nation facing its twilight.

Beyond political maneuvering, Middelkoop paints a grim picture of the U.S. economic situation. He predicts a sharp rise in gold prices, potentially exceeding $4,000 per ounce, suggesting that the precious metal could be a safe haven for investors weathering the anticipated storm.

This forecast stems from his belief that the U.S. government, under pressure to avoid a complete collapse, will resort to printing more and more money, further devaluing the dollar and fueling inflation. He anticipates that Trump’s potential approach to economic challenges would involve delaying inevitable crises by endlessly injecting liquidity into the system. This tactic, while temporarily alleviating pressure, ultimately exacerbates the underlying instability and fuels the decline.

Middelkoop’s analysis isn’t just about a potential economic downturn; it points to a fundamental shift in the global power structure. He implies that the U.S.’s dominance on the world stage is waning, and its desperate actions are simply delaying the inevitable. The implications are significant: a potential reshuffling of geopolitical alliances, shifts in economic power, and a possible restructuring of the global financial system.

For investors, Middelkoop’s insights serve as a warning, urging them to consider the precarious state of traditional markets and explore alternatives like gold. The predicted surge in gold prices is not merely a prediction, but a symptom of the broader crisis that he believes is unfolding.

While Middelkoop’s views may be considered controversial, they underscore a growing concern among some economists and analysts about the long-term stability of the U.S. empire. Whether or not his predictions come to pass, his analysis offers a thought-provoking perspective on the current global landscape, urging us to consider the possibility of a significant shift in the balance of power and the need to prepare for a potential financial reset.

The conversation surrounding the decline of empires and the future of global power is far from over. However, Middelkoop’s perspective serves as a powerful reminder that even the most dominant forces are not immune to the tides of change.

His analysis highlights the importance of critical thinking and the need to question the status quo as we navigate an increasingly uncertain world.

https://youtu.be/vMs0f-_WCbU

Iraq Economic News and Points to Ponder Tuesday Afternoon 1-28-25

Between Economic Experts’ Warnings And Government Denial, The Value Of The Iraqi Dinar Is At Stake

Buratha News Agency512025-01-28   An informed government source denied, on Tuesday (January 28, 2025), that the Iraqi government has any intention to reduce the value of the dinar against the dollar, despite rumors indicating upcoming measures to confront economic pressures and challenges in the international market.

The source confirmed that "the news about the government's intention to reduce the value of the dinar against the dollar is absolutely incorrect." He added: "The government is working to stabilize the official exchange rate set by the Central Bank, and seeks to control the parallel market. Any change in the exchange rate during the current stage or within the 2025 budget schedules will lead to negative results, and that is why the government is committed to strengthening the current rate."

A Different Economic Vision

In contrast, economist Ziad Al-Hashemi believes that reducing the value of the dinar to 1,450 dinars against the dollar could be a possible step to deal with the repercussions of the economic crises. Al-Hashemi said: “This measure may reduce the financial pressure on the government and reduce the cost of supporting the dinar, but it will negatively affect citizens through deteriorating salaries and rising prices of goods and services.”

Al-Hashemi added: “Devaluing the currency may lead to increased inflation rates due to the loss of confidence in the dinar and the increase in demand for the dollar. This decision, despite its limited positive impact in the short term, will have long-term consequences on the markets and the lives of Iraqi citizens.”

The Political Aspect And Trump's Role

On the political front, political affairs expert Nabil Al-Azzawi pointed out that US President Donald Trump, who is expected to return to the White House, may change his policies towards Iraq. Al-Azzawi explained: “Trump, as an economist, realizes that politics is managed through economics. Despite the previous tense relations, indications are that he will deal cautiously with the Iraqi file.”

Al-Azzawi praised what he described as the "wisdom of Al-Sudani's government" in sparing Iraq political crises and international sanctions, considering that relations between Baghdad and Washington may witness positive development after activating the security agreement and strengthening mutual interests.

Between Denial And Warnings

With conflicting positions between government denial and economic warnings, it seems that the Iraqi government is facing a challenge in maintaining the stability of the currency and avoiding the negative repercussions of any ill-considered action.

While economic pressures are increasing, the Iraqi citizen remains the most affected by any change in financial policies.

This file resolves a delicate balance between government decisions and economic recommendations, to ensure financial stability and protect citizens from the repercussions of any decisions that may affect their daily lives.   https://burathanews.com/arabic/economic/455724

The exchange rate of the dollar against the dinar decreased in Baghdad and Erbil

 01/28/2025  Mawazine News – Economy  The US dollar exchange rates fell in the markets of Baghdad and Erbil, the capital of the Kurdistan Region, on Tuesday, with the closure of the country's stock exchanges.

The dollar prices also fell with the closure of the Al-Kifah and Al-Harithiya stock exchanges, recording 149,900 dinars per 100 dollars, while the prices were 150,350 dinars per 100 dollars this morning.

The selling prices in the exchange sector decreased in the local markets in Baghdad, where the selling price reached 151,000 Iraqi dinars per 100 dollars, while the purchase price reached 149,000 dinars per 100 dollars.

In Erbil, the dollar also recorded a decrease, where the selling price reached 150,000 dinars per 100 dollars, and the purchase price reached 149,900 dinars per 100 US dollars. https://www.mawazin.net/Details.aspx?jimare=259126

Al-Sudani: The Government Considers The World Bank An Important Partner In The Reform Process

Politics | 04:12 - 01/28/2025   Mawazine News – Baghdad   Prime Minister Mohammed Shia al-Sudani confirmed today, Tuesday, that the government considers the World Bank an important partner in the reform process.

The Prime Minister's media office stated in a statement received by "Mawazine News" that "Prime Minister Mohammed Shia al-Sudani received today, Tuesday, the Vice President of the World Bank for the Middle East and North Africa, Mr. Osman Dayon, where they discussed ways of cooperation between Iraq and the World Bank, and the progress of development projects in Iraq."

According to the statement, al-Sudani said that "development projects that aim to maximize the non-oil economy and contribute to job creation are a priority for government attention, stressing the continuation of economic reforms that support the private sector, and that the World Bank is called upon to enhance this experience."

He added that "the government considers the World Bank an important partner in the reform process, and that the Ministerial Council for the Economy has approved the program that was approved by the Ministry of Planning in cooperation with the World Bank, especially since the results of the reform steps in the customs and tax fields have begun to appear in a tangible and positive manner."

The Prime Minister's Media Office stated that "the meeting witnessed discussions on financing the old railway rehabilitation project, and financing a number of other development projects, as Dayon pledged to finance the bank for a number of oil, energy and other infrastructure projects. The contribution of the International Finance Corporation (IFC) in financing a number of private sector projects was also discussed."   https://www.mawazin.net/Details.aspx?jimare=259119

Economist: Central Bank Reserves Vary Between Dollars And Gold

2025/01/28 Read: 1,695 times   {Economic: Al Furat News} Economic expert Salah Nouri said today, Tuesday, that the reserve in the Central Bank consists of (the dollar, the euro, and gold priced at the London market price.

Nouri explained in his interview with {Euphrates News} that “the Central Bank’s policy aims to diversify the investment portfolio between the dollar and gold, as this portfolio is managed according to global variables.”

He pointed out that "the Central Bank has investments in the form of debt bonds in the US Treasury with acceptable interest rates."

Nouri continued, saying: “In light of the current international changes and US President Trump’s statements, the Central Bank may turn to gold as a safe haven.”

He added: "According to the Central Bank's announcements, the gold reserve is considered a safe level, in addition to the dollar reserve, which can help maintain economic stability."

Regarding the economic challenges, Nouri pointed out that "the difficulties that Iraq may face are related to the financial policy managed by the Ministry of Finance, as the decline in oil prices, the limitation of the quantity of exports, and the problems with the region lead to a decrease in the ministry's revenues from oil sales in dollars, in addition to the US Federal Reserve's policy that transfers the dollar to the Ministry of Finance."

"These difficulties in financial policy negatively affect the monetary policy followed by the Central Bank of Iraq," Nouri added.   LINK

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

Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 1-28-25

Good Morning Dinar Recaps,

ARIZONA SENATE COMMITTEE APPROVES STRATEGIC BITCOIN RESERVE BILL

Arizona's move to explore digital asset investments, like Bitcoin, signals a growing trend among states to diversify public funds.

▪️Arizona's Senate Finance Committee approved a bill allowing public funds to invest in Bitcoin.

▪️The bill permits investment of up to 10% of public funds in virtual currencies like Bitcoin.

Arizona lawmakers have advanced a bill allowing public funds to invest in Bitcoin and other digital assets, with the state Senate Finance Committee approving the measure in a 5-2 vote on January 27.

Co-sponsored by Wendy Rogers and Jeff Weninger, the proposed legislation, known as SB1025 or “Arizona Strategic Bitcoin Reserve Act,” allows the state to invest up to 10% of public funds, including those held by the state treasurer and retirement systems, in virtual currencies like Bitcoin.

The bill also includes provisions for storing digital asset holdings in a secure segregated account within a potential federal Strategic Bitcoin Reserve if the Secretary of the Treasury establishes a strategic Bitcoin reserve for government holdings.

The US Senate on Monday also confirmed Scott Bessent as Treasury Secretary on a vote of 68 to 29, with bipartisan support. As a supporter of Trump’s economic policies, Bessent opposes a central bank digital currency and is seen as pro-Bitcoin.

Following its passage through the Finance Committee, Arizona’s Bitcoin reserve bill now moves to the Senate Rules Committee, which will set parameters for floor debate and amendments. If approved by the full Senate, the measure will proceed to the House of Representatives.

According to Dennis Porter, CEO and co-founder of the Satoshi Action Fund, Arizona is the first state to have a bill specifically focused on creating a Bitcoin reserve pass through a legislative committee.

If this bill becomes law, Arizona would be the first state to officially invest public funds in Bitcoin.

As of Jan. 27, eleven states have introduced their respective Bitcoin reserve bills, according to Porter. He noted in a separate post, "I can confirm that at least 15 states will introduce ‘Strategic Bitcoin Reserve’ legislation. Maybe even 16."  He also noted, "As a reminder, only 3 months ago this number was zero."
@ Newshounds News™

Source:  CryptoBriefing

~~~~~~~~~

U.S. CRYPTO RESERVES SHOULD INCLUDE XRP TOO: RIPPLE CEO GARLINGHOUSE

▪️Ripple CEO advocates for a U.S. crypto reserve to include Bitcoin and other tokens.

▪️Brad Garlinghouse calls for collaboration, not competition, within the crypto industry.

▪️Bitcoin supporters argue only Bitcoin should be included in the U.S. crypto reserve.

Brad Garlinghouse, the CEO of Ripple, has stirred up the conversation around the U.S. government’s plans to create a national digital asset reserve.

While some Bitcoin supporters argue that only Bitcoin should be included, Garlinghouse believes that the reserve should be more inclusive, featuring Bitcoin alongside other cryptocurrencies like Ripple’s XRP. His bold stance challenges the status quo and raises important questions about the future of digital assets.

Brad Garlinghouse thinks collaboration, rather than competition, is the key to crypto’s success.

A Vision for Crypto’s Growth

Garlinghouse’s main message is that the cryptocurrency industry can thrive more if different cryptocurrencies work together instead of competing against each other. In a recent tweet, he pointed out that focusing on one cryptocurrency over others is not the way forward. He believes success in the industry will come through collaboration, not rivalry.

He stressed that the crypto market should not be a “zero-sum game,” where the success of one digital asset means the failure of another. Garlinghouse, who owns multiple cryptocurrencies, including XRP, Bitcoin, and Ethereum, wants a fairer playing field where all digital assets can succeed.

Why a Diversified Digital Reserve Matters

Garlinghouse believes any government-backed digital asset reserve should be diversified.

“If a government digital asset reserve is created, I believe it should be diversified. It should include more than just one token, whether it’s BTC, XRP, or any other.”

Ripple has been actively working with U.S. regulators to ensure XRP is part of the conversation about digital asset reserves. Garlinghouse believes that having a balanced reserve will help grow the cryptocurrency industry as a whole, benefiting more than just Bitcoin.

Bitcoin Supporters Push Back

Garlinghouse’s suggestion has faced criticism from some Bitcoin supporters. Pierre Rochard, Vice President of Riot Platforms, argues that Bitcoin’s decentralized nature makes it the only suitable cryptocurrency for the reserve. He also believes Ripple is lobbying to get XRP included.

Ryan Selkis, CEO of Messari, shares this viewpoint, stating that Bitcoin’s unique features make it a better fit for the reserve than other cryptocurrencies.

As the U.S. government considers creating a national digital asset reserve, the question remains: will it include only Bitcoin, or will it be open to other cryptocurrencies, as Garlinghouse suggests? This decision could have a big impact on the future of the crypto industry.

@ Newshounds News™

Source:  CoinPedia

~~~~~~~~~

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Economist’s “News and Views” Tuesday 1-28-2025

MARKET WARNING Issued as Valuations Explode Signaling Collapse is THIS CLOSE

Taylor Kenny:  1-28-2025

The stock market is on the brink of collapse as the CAPE ratio signals extreme overvaluation, nearing levels not seen since the dot-com bubble.

With margin debt at record highs and speculation fueling the market, the fallout of the inevitable crash could be devastating.

Learn why this bubble is unsustainable, what history tells us about past crashes, and how you can prepare to protect your wealth today.

CHAPTERS:

00:00 - The Stock Market's Dangerous Overvaluation

00:38 - Historical Context of Market Returns

01:13 - Explaining the CAPE Ratio

 03:00 - The Danger of Overvaluation Today

 03:35 - Debt-Fueled Speculation Driving Growth

 05:08 - The Role of Margin Debt

06:40 - Lessons from the Dot-Com Bubble

 07:06 - The Everything Bubble: What’s Next

 08:12 - How to Prepare for the Crash

https://www.youtube.com/watch?v=zLZ6Mw7_3PI

Central Banks are Selling US Treasuries and Buying Gold Instead

Heresy Financial:  1-27-2025

TIMECODES

00:00 China, Japan & the U.S. Dumping Treasuries

 00:24 U.S. Treasury’s $36 Trillion Debt Explosion

 00:53 The Fed’s Balance Sheet Reversal (Opposite of QE)

02:02 China & Japan Unloading U.S. Debt Holdings

 02:30 Fed’s Share of Total Debt Near Historical Norms

03:24 Central Bank Gold Buys vs. Treasuries

04:49 Why Gold Prices Surged 35% This Year

05:53 Stocks vs. Bonds: S&P Earnings Yield vs. 10-Year

 07:03 Higher Rates & the Crowding-Out Effect

 08:35 The Next Phase of the Long-Term Debt Cycle

09:30 “11th Century Stocks”: Building a 100-Year Portfolio

09:46 Closing Thoughts

https://www.youtube.com/watch?v=Can_5smdMt4

China did Unthinkable to the US and Wiped $1Trillions of the US market: What’s Next?

Fastepo:  1-28-2025

https://www.youtube.com/watch?v=0OINGWWMUIk

Iraq Economic News and Points to Ponder Tuesday AM 1-28-25

After Fidan's Visit To Iraq, A Deputy Reveals The Fate Of The "Road Of Development" Project

January 27, 2025   Baghdad/ Iraq Observer   Parliament member Amang Herki revealed the fate of the development road project after the visit of Turkish Foreign Minister Hakan Fidan to Baghdad.
 
"It is impossible to implement this project currently in light of the regional conditions experienced by Iraq and the region, especially the security conditions from them."  

He added,  "There are many topics in the region, and the discussions that took place between the Turkish Foreign Minister in Baghdad were one of the partial topics that were discussed with the Iraqi side, where there are other topics that were discussed from the situation in Syria," noting that
 
"the meeting was It has a security character more than an economic nature.”
 
Global Economy and Trump
 
A member of the House of Representatives stressed that
 
"the global economic policy witnessed a major change in the region, especially during the
    
     inauguration of US President Donald Trump, in addition to
     this reflection on the Middle East, the
     Syrian situation and the
     Turkish move in the region," noting that
 
"it is difficult to predict the possibility of directing the project of development in the shadow All these current circumstances.”
 
Earlier, the Minister of Transport, Razzaq Muhaibis Al -Saadawi, confirmed that the
 
     middle of this year will witness the announcement of the first passage of the development road project, indicating that the  
 
     completion rates in the project are very advanced, where the  
 
     economic feasibility has been completed by 100%, and the  
 
     initial designs of the railway, the highway and approval were completed Its 100%, and the  
 
     completion of soil tests for a distance of 1,000 km out of 1,200 km, as well as  
 
    approving the final path of the project, and  
 
    starting to prepare detailed designs.
 

Advanced achievement rates
 
The minister explained that
 
“Prime Minister Mohamed Shawaa Al -Sudani stressed the
     need to adhere to the specified time timing and
     not to allow any delay or delay in implementing the project.
 
The Minister indicated the role of consulting companies:
 
“The Italian company BTP will be responsible for the initial and detailed designs, economic feasibility, and soil examinations, while
 
the German company Oliver and Ayman will be charged with preparing the financial and economic model, project governance, and marketing.”
 
The Turkish Foreign Minister, Hakan Fidan, arrived in the capital, Baghdad, to hold talks with Iraqi officials.
 
The Turkish minister discussed economic, security and regional files, most notably the lines of
 
     accelerating the implementation of the project of development and the  
     participation of Turkish companies in this project, in addition to  
     raising the volume of trade exchange between the two countries and the file of the  
     Kurdistan Workers' Party and the developments of the 
     situation in Syria and the region.       https://observeriraq.net/بعد-زيارة-فيدان-الى-العراق-نائب-يكشف-م/    

Introduction
 
January 27, 2025      An introductory overview of the Directorate
 
  The Directorate of Control of Non-Banking Financial Institutions in the Central Bank of Iraq shall be responsible for licensing, supervising and controlling non-bank financial institutions,
 
with the aim of
 
     protecting the financial system from potential risks and
     enhancing confidence in the non -banking financial sector.
 
It also seeks to ensure the provision of safe and effective financial services to citizens,
 
in addition to ensuring that these institutions comply with laws and instructions in accordance with international standards in the field of compliance, which contributes to promoting financial stability.     https://cbi.iq/news/view/2779 

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

Seeds of Wisdom RV and Economic Updates Tuesday Morning 1-28-25

Good Morning Dinar Recaps,

SENATE CONFIRMS PRO-CRYPTO SCOTT BESSENT AS US TREASURY SECRETARY

As US Treasury secretary, billionaire hedge fund manager Scott Bessent will have sway over fiscal policy, financial regulations, international sanctions and overseas investments.

The US Senate has confirmed Donald Trump’s pick for US Treasury secretary, billionaire hedge fund manager Scott Bessent.

On Jan. 27, the Senate voted 68 to 29 to confirm Besset, with 16 Democrats supporting the nomination.

Ripple CEO Brad Garlinghouse congratulated Bessent on X, adding that he was “confident he’ll enact common-sense economic policies, working with the Administration and Congress to grow US tech and crypto innovation.”

As Treasury secretary, Bessent will have influence over the nation’s tax collections and its $28 trillion Treasury debt market. He will also have sway over fiscal policy, financial regulations, international sanctions, and overseas investments.

The 62-year-old Tennessee lawmaker strongly supports Trump’s economic agenda, including the renewal of $4 trillion in expiring tax cuts, the implementation of tariffs, and increased oil production. He also pushed back against the idea that Trump’s policies would be inflationary, Reuters reported.

During his confirmation hearing, Bessent said that government spending was “out of control.”

Bessent is known to be pro-crypto and against the notion of a central bank digital currency along with President Trump. “I see no reason for the US to have a central bank digital currency,” he said in a Jan. 16 Senate Finance Committee hearing.

He’s also said a central bank digital currency is for countries that have “no other investment alternatives” and are “doing it out of necessity.”

Bessent told Fox Business in July that he has “been excited about the president’s embrace of crypto, and I think it fits very well with the Republican Party. Crypto is about freedom, and the crypto economy is here to stay.”

Under Trump’s Jan. 23 crypto executive order, the Treasury will take a role in the governmental working group to hash out the strategy for US crypto policy.

Trump’s AI and crypto czar David Sacks, and the chairs of the Securities and Exchange Commission and the Commodity Futures Trading Commission will also form part of the working group.

@ Newshounds News™

Source:  CoinTelegraph

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CFTC ACTING CHAIR PHAMS CALLS ROUNDTABLE TO TACKLE CRYPTO ISSUES

Caroline Pham said the CFTC would “get back to basics” by hosting a series of roundtable talks with crypto industry leaders to address regulatory pain points.

On Jan. 27, Caroline Pham, acting chair of the Commodity Futures Trading Commission, said that the regulator plans to engage with digital asset stakeholders to discuss market structure and prediction markets as the U.S. pivots toward greater crypto adoption.

According to Pham, the CFTC “must take a forward-looking approach” to resolve conflicts of interest and policy gaps left by the previous administration.

Innovation and new technology has created a renaissance in markets that presents new opportunities that are accessible to more people, as well as risks. The CFTC will get back to basics by hosting staff roundtables that will develop a robust administrative record with studies, data, expert reports, and public input.  ~  Caroline Pham, acting CFTC chair

Pham’s decision to include prediction markets in the roundtables could reignite speculation over the CFTC’s stance on the sector. Previously, former chair Rostin Behnam criticized prediction markets, declaring them harmful to public interest.

Prediction markets like Polymarket and Kalshi gained prominence toward the end of last year. These platforms, which allow users to wager on real-world outcomes, became popular sources of electoral data, accurately predicting the winner of the general elections and several other races.

The CFTC previously sued Kalshi to halt its political betting contracts, initially winning in court. However, Kalshi eventually secured court approval to list its presidential outcome markets for U.S. customers. Notably, Polymarket remained unavailable to American users at the time of publication.

The roundtable discussions will occur over several months to align agency mandate with industry development, Pham said in her CFTC-issued statement.

Pham was selected to head the regulatory by President Donald Trump last week as part of the first official steps to overhaul anti-crypto sentiment entrenched in U.S. market watchdogs.

While she is acting chair, Behnam will formally leave the commission on Feb. 7. Trump’s preferred nominee to succeed Behnam has not yet been announced, and it is unclear how long Pham will serve as acting chair.

@ Newshounds News™

Source:  Crypto News

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“Tidbits From TNT” Tuesday Morning 1-28-2025

TNT:

Tishwash:  Planning and the World Bank discuss a number of development issues and financing strategic projects

Minister of Planning Mohammed Ali Tamim discussed today, Tuesday, with the Vice President of the World Bank for the Middle East and North Africa, Othman Dioni, joint cooperation and ways to enhance it to serve the development process in Iraq.

The ministry stated in a statement that "Tamim discussed during his reception of Dioni and his accompanying delegation, several topics, including the railway link project between Iraq and Turkey within the development road project, and the electrical link project with neighboring countries, especially with the Kingdom of Saudi Arabia and the State of Kuwait, in addition to discussing cooperation in the field of highway projects, water management, and the development and expansion of Baghdad International Airport.

For his part, the Vice President of the World Bank, Dioni, stressed that Iraq represents a priority, within their future plans, expressing his readiness to support strategic projects in various development sectors. link

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Tishwash:  Parliamentary Committee: Government Focuses on Supporting Non-Oil Revenues and Attracting Global Investments

The Parliamentary Economic Committee confirmed, on Monday, the development of a plan to study the financial situation and encourage non-oil revenues, while indicating the government's support for the move towards non-oil revenues that strengthen the national economy and attract global investments.

Committee member Ruqayya Al-Nouri said in a statement reported by the official news agency, and seen by "Al-Eqtisad News", that "the committee supports economic trends that benefit the country in general," indicating that "there are many opportunities in the field of non-oil revenues."

She added, "The committee needs to work together to study the financial and economic situation and encourage non-oil revenues while monitoring their distribution," indicating that "Iraq has a vast stock of natural resources, and is a rich country not only in terms of oil, which encourages international companies to invest."

She added, "The government of Prime Minister Mohammed Shia al-Sudani greatly supports the diversification of non-oil revenues and constantly emphasizes this trend." link

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Tishwash:  Financial disclosure and transparency is a strategic approach for the Central Bank

Samir Al-Nusairi

 In the past few days, officials in financial and monetary policy were surprised by the statements of some unspecialized analysts and unspecialized media outlets about the crisis of the lack of liquidity in the Ministry of Finance and the Central Bank and the impact of this on delaying the securing of salaries of employees, retirees and social care.

 The truth is that there is absolutely no such crisis, and this is what the Ministry of Finance and the Central Bank confirmed.

Central banks in the world's countries aim primarily to achieve economic stability by achieving monetary and financial stability according to their programs and strategies that aim to maintain stability in the exchange rate of their local currencies against other foreign currencies and build sufficient foreign reserves according to special international standards.

Banks are also evaluated based on other standards related to facing crises, challenges and economic and political shocks in their countries and controlling stable rates of inflation and interest rates and implementing compliance systems and rules and combating money laundering and terrorist financing.

The Central Bank of Iraq's journey during 2023 and 2024 has proven that it is moving steadily towards achieving the objectives of monetary policy and with a consistent and strategic approach that relies on transparency and disclosure of financial data and dealing with international financial organizations and institutions, based on the keenness to restore confidence in international banking transactions, which Iraq suffered from in previous years due to reputational risks and the negative media impact towards harming the Iraqi economy and leaking inaccurate and fabricated data, information and statements intentionally or by relying on data from other than its official source, which is the Central Bank exclusively.

This led the Central Bank's management, which assumed responsibility in 2023, to draw up its third strategy, and one of its most prominent main and sub-goals was to adopt transparency and disclosure locally and internationally about the progress of the results achieved by the financial and banking sector and adherence to the standard international standards applied by reputable international banks, which led to the creation of a new and balanced relationship with international banks and banking institutions based on trust in the financial data provided and announced by the Central Bank.

This is what he announced from statistics, data and accurate analyses of what was achieved during the past two years. These are positive indicators achieved by the Central Bank for the third quarter of 2024 compared to the same period in 2022 and 2023, as the total deposits in banks operating in Iraq grew by (4.2%) and amounted to (127.6) trillion dinars, compared to its value of (122.4) trillion dinars in the third quarter of 2023, and the cash credit granted by operating banks also recorded a growth of (11.6%) and amounted to (72.7) trillion dinars, compared to its value of (65.1) trillion dinars in the third quarter of 2023.

Indicators and data showed that the narrow money supply in Iraq recorded a growth of (4.1%) in the third quarter of 2024, as its value reached (158.6) trillion dinars, compared to its value of (152.4) trillion dinars in the third quarter of 2023. In contrast, the broad money supply in Iraq recorded a growth of (3.3%), as its value reached (179.1) trillion dinars, compared to its value of (173.9) trillion dinars in the third quarter of 2023.

The Central Bank's gold reserves also recorded a significant growth of (57%) in the third quarter of 2024, reaching (16) trillion dinars, compared to (10.7) trillion dinars in the third quarter of 2023, and the annual inflation rates in Iraq are among the lowest annual inflation rates in the countries of the region for the months of August and September of 2024, ranging between (3.1%) and (3.7%) respectively, which reflects price stability and the success of monetary policy in Iraq.

This confirms that the data issued by the Central Bank, published on its website and included in all media releases it issues, refute what is stated by non-specialists, such as representatives and analysts in various media outlets, especially regarding liquidity, reserves and salaries.

Through my analysis as a follower and specialist, I believe that the Central Bank’s disclosure of financial data with the required accuracy will greatly help restore confidence in our national economy and the Iraqi banking sector locally and internationally, because disclosure, transparency and credibility will contribute to restoring confidence in the Iraqi banking sector and raising the rate of financial inclusion. link

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Mot: .. oooooh -- Yea -- Right!! --- LOL 

Mot: I NEVER Worry bout being - over da Hill ---

MilitiaMan & Crew Report Iraq Dinar News-Abu Dhabi MOUs on Securities Commision-International Transactions-CBI

MilitiaMan & Crew Report Iraq Dinar News-Abu Dhabi MOUs on Securities Commision-International Transactions-CBI

1-27-2025

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=N2hu4hYZMu8