Iraq Economic News and Points to Ponder Sunday Afternoon 2-16-25

US Praises Iraqi Financial Sector Reform Measures 

February 16, 2025   Baghdad - Ibtihal Al Arabi  The meeting of the Central Bank of Iraq with the American side and international auditing companies resulted in positive results, denying that some Iraqi banks were subject to international sanctions. A statement received by Al-Zaman yesterday said that (the first quarterly meetings of the current year, with the US Treasury Department and the US Federal Reserve Bank,

which were held in the United Arab Emirates with the participation of international auditing and consulting companies, were crowned with praise for the steps taken by the bank and the government in reforming the banking sector),

and continued that (the most important of these reforms is the development of the cash distribution system for the US dollar in Iraq, which they considered the most controlled and controlled system in the world, which limits manipulation and smuggling of the US dollar),

appreciating (the qualitative shift in foreign transfer operations and the steps taken by the Central Bank to address the risks resulting from these operations, which have now risen to the levels of transfer operations carried out by international banks),

and pointed out that (the consulting companies reviewed the plans to reform the government and private banking sector and upgrade them in a manner consistent with international standards and facilitating the involvement of Iraqi banks in the network of financial relations internationally),

and the statement went on to say that (the operations carried out by banks operating in Iraq depend largely on the confidence of international correspondent banks in the Iraqi banking sector,

and we emphasize the need to ensure the adoption of official channels for this The bank to know the latest news and not to transmit incorrect information such as some Iraqi banks being subject to international sanctions and others).

An economic expert revealed that 34 out of 44 banks are now under US sanctions, which constitutes a major crisis in the local banking sector.

The expert, Munir Al-Obaidi, explained in a statement received by (Al-Zaman) yesterday that (34 out of 44 banks are now under US sanctions, which constitutes a major crisis in the local banking sector), adding (the remaining 10 banks are distributed as follows: five of them have foreign capital, two are affiliated with the Kurdistan Region, and only three banks remain entirely Iraqi).

Meanwhile, the Central Bank of Iraq gave banks operating in the country that do not have an account in a bank that deals directly with the American bank, JP Morgan, a deadline of June to settle their electronic payments, threatening to stop them if they do not comply with the decision.

Mustafa Hantoush, a researcher in economic and banking affairs, said in a statement yesterday that (if this decision is implemented, it will lead to limiting the dealings of electronic payment companies in Iraq to Jordanian and Gulf banks, which currently dominate the currency auction with the support of the Central Bank of Iraq),

noting that (electronic payment companies will be forced to open accounts in banks that have dealings with JP Morgan and Citibank, in exchange for closing their accounts in Iraqi banks, whether they are sanctioned or not, which may affect the local banking sector), and Hantoush renewed his call to (reconsider the standards of the Central Bank of Iraq related to building local banks),

stressing (the need to strengthen and develop them to face the challenges resulting from these decisions), and he continued that (so far, the bank’s management has not issued any official statement confirming or denying the validity of this news, which leaves the door open to speculation about the impact of the decision on the banking system in Iraq and its relationship with international banks). LINK

After Meeting With The US Federal Reserve, The Central Bank Denies That Iraqi Banks Are Subject To Sanctions

Economy |- 02/16/2025  Baghdad - Mawazine:  The Central Bank of Iraq denied the existence of international sanctions on some Iraqi banks, after media outlets circulated news about sanctions that included dozens of banks in the country.

The Central Bank stated in a statement received by "Mawazine", a copy of it, that "it announced the end of the first quarterly meetings for the year 2025 with the US Treasury and the US Federal Reserve Bank,

which were held in Dubai / United Arab Emirates with the participation of international auditing and consulting firms (EY, K2 Integrity, Oliver Wyman), and the meetings culminated in praise for the steps taken by the Central Bank of Iraq and the Iraqi government in reforming the banking sector,

 the most important of which were: the development of the cash distribution system for the US dollar in Iraq, which they considered the most controlled and controlled system in the world, which limits manipulation and smuggling of the US dollar,

 in addition to the qualitative shift in foreign transfer operations and the steps taken by the Central Bank of Iraq to address the risks resulting from these operations, which have now risen to the levels of transfer operations carried out by international banks.

The statement confirmed that the consulting firms (EY and Oliver Wyman) reviewed the plans to reform the government and private banking sector and upgrade them in line with international standards and to facilitate the involvement of Iraqi banks in the network of financial relations internationally."

The statement added: "Since the operations carried out by banks operating in Iraq depend largely on the confidence of international correspondent banks in the Iraqi banking sector, we stress the need to ensure that the official channels of this bank are adopted to know the latest news and not to transmit incorrect news such as some Iraqi banks being subject to international sanctions and others." tps://www.mawazin.net/Details.aspx?jimare=259609

New US Sanctions Shake Iraqi Banking Sector, Ban Use Of Payment Cards Abroad

02/16/2025  Mawazine News – Economy  Iraqi government sources reported on Sunday that Baghdad received an official notification from the US Treasury Department imposing sanctions on five Iraqi banks, in addition to a number of exchange companies, due to their involvement in illegal money transfers inside and outside Iraq, and smuggling dollars to banned entities, most notably the Islamic Republic of Iran.

According to the US notification, the sanctions will not stop there, as the work of other banks is being closely monitored and may face similar measures in the near future.

The new US decision also included imposing a comprehensive ban on the use of Iraqi electronic payment cards outside the country during the next two months, in a move aimed at preventing currency smuggling after suspicious financial movements were monitored by a specialized US team. It is

noteworthy that the US Treasury Department had previously imposed sanctions on 14 Iraqi banks in July 2023, and prevented four other banks from accessing the dollar in November of the same year, and imposed strict restrictions on money transfers in cooperation with the Central Bank of Iraq.

These measures come within the framework of an escalating US policy to control financial transactions in Iraq, amid fears of continued money laundering and currency smuggling, which imposes additional challenges on the Iraqi banking sector and its financial stability.  https://www.mawazin.net/Details.aspx?jimare=259611

The Central Bank Of Iraq Announces Positive Results From Its Quarterly Meetings With The American Side

 02/16/2025   Mawazine News – Economy  The Central Bank of Iraq announced, on Sunday, that its quarterly meetings with the American side and international auditing companies had yielded positive results, denying that some Iraqi banks were subject to international sanctions.

The bank said in a statement received by "Mawazine News" that the first quarterly meetings for the year 2025 with the US Treasury and the US Federal Reserve, which were held in the United Arab Emirates with the participation of international auditing and consulting companies (EY, K2 Integrity, and Oliver Wyman), were crowned with praise for the steps taken by the Central Bank of Iraq and the Iraqi government to reform the banking sector.

He indicated that the most important of these reforms are:

1- The development of the cash distribution system for the US dollar in Iraq, which they considered the most controlled and controlled system in the world, which limits manipulation and smuggling of the US dollar.

2- The qualitative shift in foreign transfer operations and the steps taken by the Central Bank of Iraq to address the risks arising from these operations, which have now risen to the levels of transfer operations carried out by international banks.

3- The consulting firms (EY and Oliver Wyman) reviewed the plans to reform and upgrade the public and private banking sectors in line with international standards and to facilitate the involvement of Iraqi banks in the international financial relations network.

The bank said: "Since the operations carried out by banks operating in Iraq depend largely on the confidence of international correspondent banks in the Iraqi banking sector, we emphasize the need to ensure the adoption of the official channels of this bank to know the latest news and not to transmit incorrect news such as the exposure of some Iraqi banks to international sanctions and others." https://www.mawazin.net/Details.aspx?jimare=259614

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

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 2-16-25

Good Afternoon Dinar Recaps,

SEPARATION OF POWERS IS ON TRIAL IN THE US

WASHINGTON, Feb 14 - Donald Trump has put the constitutional separation of powers in the United States on trial. Federal judges have for now blocked many of his administration’s early moves, from ending birthright citizenship to removing health and science websites, setting up a larger battle at the Supreme Court.

Threats from the president and his allies to ignore adverse judicial rulings risk a historic rupture in American governance and law.

Since taking office last month, the White House has attempted to freeze $3 trillion in government loans and grants, shut down entire agencies like the Consumer Financial Protection Bureau, and fired Senate-confirmed officials whose terms have not expired, without cause.

Previous Republican administrations, including Trump’s first, wanted to achieve similar goals. But they did not attempt the president’s current strategy because it flatly contradicts the U.S. Constitution and the text of existing statute.

Congress controls federal appropriations, and the 1974 Impoundment Control Act strictly delineates the executive’s role in disbursing those funds. Officials have virtually no discretion to block payments.

The Supreme Court may yet give the commander-in-chief his way. The court’s nine justices, three of whom were appointed by Trump, have already expanded executive powers. They could choose to further tilt the balance in favor of the president, effectively weakening Congress. 

Some conservatives on the court favor overturning a 1935 ruling, opens new tab that limits the president’s ability to fire a Senate-confirmed official. Trump is challenging that by removing minority-party commissioners on the National Labor Relations Board, among others. A ruling in his favor might make it easier to target bigger fish, like the Federal Reserve chair.

A more immediate danger is that the Trump administration undermines legal judgments. When federal courts blocked the funding freeze and restricted access to sensitive payment systems for lieutenants of Elon Musk, the Tesla boss called the judge “corrupt” and the White House said judges were “abusing their authority.”

The American Bar Association, opens new tab on Monday condemned the “wide-scale affronts to the rule of law itself”. At other times, Trump has said he will comply with court orders.

The true crisis would be if Trump decides to ignore court rulings and congressional mandates.

That’s no far-fetched scenario: administration officials have sought to find ways around an edict to unblock all frozen grants, opens new tab to government contractors and non-profit organizations, ProPublica reported.

Meanwhile, Trump this week instructed the Department of Justice to stop enforcing the Foreign Corrupt Practices Act, which punishes Americans who bribe officials overseas.

Laws are meaningless, and ultimately unenforceable, if those in power choose to ignore them. An unaccountable executive branch combined with neutered judicial and legislative branches would hobble companies, organizations, nations, and individuals who depend on the promises of the federal government, as well as the open markets and society that are the bedrock of U.S. stability and prosperity.

@ Newshounds News™

Source:  Reuters

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PICMUSK WANTS RON PAUL TO AUDIT THE FED -  Video- 9 min

@ Newshounds News™

Source:  The Hill

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JUST IN: 🇺🇸 Senator Rand Paul calls on Elon Musk's DOGE to audit US gold reserves at Fort Knox to ensure it's still there.

@ Newshounds News™

Source:  Watcher Guru

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The following message in our Telegram Living Room on Valentine's Day:

"Hello happy valentine 💘 I will have great news Tuesday (February 18th) and will post in my room , things are developing and will have a confirmation by then, blessings ."

Join Isaac's Telegram room -  Link

Isaac on our Website Link 

@ Newshounds News™

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The State of Sound Money in the US

The State of Sound Money in the US

Arcadia Economics:  2-15-2025

The dollar’s dominance as the world’s reserve currency has been a cornerstone of the global financial system for decades. However, with rising inflation, increasing national debt, and unconventional monetary policies emanating from the Federal Reserve, many are questioning the long-term stability and value of fiat currency.

This growing unease is fueling a resurgence of interest in gold and silver, metals historically recognized as “sound money,” and driving a quiet but potentially significant movement at the state level.

The core principle of sound money revolves around its inherent value and limited supply, characteristics that protect against the arbitrary dilution and manipulation often associated with government-backed fiat currencies.

 Gold and silver, with their intrinsic value and relative scarcity, have traditionally served as a reliable store of wealth and a hedge against economic uncertainty.

Given the current economic climate, it’s no surprise that individuals are increasingly seeking refuge in these precious metals. The Federal Reserve’s quantitative easing programs, coupled with government spending sprees, have demonstrably devalued the dollar, eroding purchasing power and sparking concerns about the future. In this context, gold and silver offer a tangible alternative, a safe haven against the perceived erosion of value within the traditional financial system.

These state-level initiatives, while often facing resistance from established financial interests, represent a growing frustration with the status quo and a desire for greater financial stability and individual economic sovereignty.

They reflect a belief that relying solely on the dollar, printed at will by the Federal Reserve, carries significant risks, and that diversifying into sound money alternatives like gold and silver offers a prudent strategy for wealth preservation.

The road ahead remains uncertain. Overcoming entrenched interests and navigating complex regulatory hurdles will be a significant challenge.

 However, the combination of individual demand for sound money and the growing momentum at the state level suggests that the gold and silver revolution is more than just a fleeting trend.

It represents a fundamental questioning of the existing financial system and a search for a more stable and reliable foundation for economic prosperity.

 As the government and Federal Reserve continue to raise concerns about the dollar’s future, the movement towards sound money, driven by both individual action and legislative reform, is poised to gain further traction and reshape the economic landscape in the years to come.

Watch the video below from Arcadia Economics featuring David Morgan for further insights and information.

https://youtu.be/0Fepwiq-_Q4

Seeds of Wisdom RV and Economic Updates Sunday Morning 2-16-25

Good Morning Dinar Recaps,

IRS WILL LAY OFF THOUSANDS OF PROBATIONARY WORKERS IN THE MIDDLE OF TAX SEASON

WASHINGTON (AP) — The IRS will lay off thousands of probationary workers in the middle of tax season, according to two sources familiar with the agency’s plans, and cuts could happen as soon as next week.

This comes as the Trump administration intensified sweeping efforts to shrink the size of the federal workforce, by ordering agencies to lay off nearly all probationary employees who had not yet gained civil service protection.

It’s unclear how many IRS workers will be affected.

Previously, the administration announced a plan to offer buyouts to almost all federal employees through a “deferred resignation program” to quickly reduce the government workforce. The program deadline was Feb. 6, and administration officials said employees who accept will be able to stop working while still collecting a paycheck until Sept. 30.

However, IRS employees involved in the 2025 tax season were told they will not be allowed to accept a buyout offer from the Trump administration until after the taxpayer filing deadline, according to a letter sent recently to IRS employees.

It is unclear how many workers will be impacted by the layoff announcement plan. Representatives from the U.S. Treasury and IRS did not respond to Associated Press requests for comment.

Jan. 27 was the official start date of the 2025 tax season, and the IRS expects more than 140 million tax returns to be filed by the April 15 deadline. 

The Biden administration invested heavily in the IRS through an $80 billion infusion of funds in Democrats’ Inflation Reduction Act, which included plans to hire tens of thousands of new employees to help with customer service and enforcement as well as new technology to update the tax collection agency.

Republicans have been successful at clawing back that money, and billionaire Elon Musk and his Department of Government Efficiency have called for the U.S. to “delete entire agencies” from the federal government as part of his to radically cut spending and restructure its priorities.

Elected officials are trying to fight against DOGE plans. Attorneys general from 14 states challenged the authority to access sensitive government data and exercise “virtually unchecked power” in a lawsuit filed Thursday.

The lawsuit, filed in federal court in Washington, says the actions taken by Musk at the helm of DOGE can only be taken by a nominated and Senate-confirmed official. It cites constitutional provisions that delineate the powers of Congress and the president.

@ Newshounds News™

Source:  AP News

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XRP NEWS: MAJOR RIPPLE DEVELOPMENTS AND GLOBAL PARTNERSHIPS UNVEILED

▪️XRP surges as SEC acknowledges ETF filings, fueling speculation of a Ripple lawsuit resolution and massive market breakout!

▪️Ripple expands globally with major partnerships, rebrands focus on Web3, and boosts XRP adoption—biggest breakout ahead?

Under new SEC leadership, excitement is building around XRP as crypto exchange Bitrue hints at major developments. In a recent post on X, Bitrue urged the community to pay close attention, suggesting that something big is brewing.

The message quickly gained traction, sparking speculation about what’s driving the surge in XRP’s price and market activity. Investors are now eagerly watching for the next big move, as XRP continues to capture attention with a string of major events.

XRP ETF Frenzy Takes Over

One of the biggest drivers behind the excitement is the SEC’s unexpected attention to XRP ETF filings. On Thursday, the SEC officially recognized Grayscale’s XRP ETF application, triggering a strong 12% price rally, making XRP the best performer among the top ten cryptos.

 The momentum didn’t stop there. The very next day, the SEC acknowledged another XRP ETF filing—this time from 21Shares—pushing XRP’s weekly gains to an impressive 17%.

The market response has been electric, with traders now eyeing the possibility of XRP reclaiming its all-time high of $3. The shift in the SEC’s stance is surprising, given its history of rejecting altcoin ETFs.

Is the Ripple Lawsuit Nearing Its End?

The ETF news has fueled speculation that the SEC might soon settle its long-running lawsuit against Ripple. Many believe that the shift in regulatory behavior—especially under acting chairman Mark Uyeda—could pave the way for a resolution.

Ripple’s New Look and a Change in Strategy?

In the meanwhile, Ripple has also done some major transformation, rebranding its website to focus on its vision of the “Internet of Value.” The refreshed site highlights its work in cross-border payments, digital asset custody, and stablecoins like Ripple USD (RLUSD). However, one notable change stands out—Ripple has removed all references to Central Bank Digital Currencies (CBDCs).

This move is giving positive vibes to the market with changing U.S. regulations on cards. Alongside the rebrand, Ripple has also emphasized its $600 million investment in Web3 and its more than 70 direct investments, shows its commitment to driving the next phase of crypto adoption.

XRP Expands Through Major Partnerships

Ripple is continuing its push for global adoption, forming new partnerships that strengthen XRP’s position in the market. One of the biggest recent moves was its collaboration with Portugal’s largest currency exchange, signaling its expanding footprint in Europe.

In Japan, SBI Remit has also expanded its international money transfer services in partnership with SBI Shinsei Bank. The key takeaway here is that SBI Remit is already using XRP for cross-border transactions, highlighting its growing role in the global remittance space.

Institutional interest in XRP is growing, with Japanese energy company Remixpoint making a major move. The company recently purchased $3.9 million worth of XRP and Dogecoin as part of its expanding crypto reserves.

While one user said this is just half the things on the horizon.

With new changes on the cards, XRP could be on track for one of its biggest breakouts yet. The big question now is whether it can ride this wave back to its all-time high and beyond.

@ Newshounds News™

Source:  Coinpedia

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@ Newshounds News™

Source:  FRB Services 

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News, Rumors and Opinions Sunday AM 2-16-2025

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Sun. 16 Feb. 2025

Compiled Sun. 16 Feb. 2025 12:01 am EST by Judy Byington

Global Currency Reset:

Mon. 10 Feb.: Liquidity was (allegedly) released to the 12 platforms that then funded the 38 platforms beneath them (Tiers 1 and 2). …JR Truth

Tues. 11 Feb. 2024: A military Intel contact said they (allegedly) released everything for the Global Currency Reset at 3pm PDT on Tues. 11 Feb. 2025 to start the shotgun release of liquidity & notifications over next 72 hours for the lower levels / tiers including Tier4B. …Carolyn Bessette Kennedy on Telegram

Wed. 12 Feb. Funding (allegedly) released to Bond Holder accounts. Banks could no longer see or have access to individual bank accounts. Some private groups were paid out on Wed. 12 Feb, while others will be paid on Thurs. 13 Feb. …Bruce

On Thurs. 13 Feb. Nesara funds(allegedly)  started going out. Redemption Center leaders went into work at 10am on Thurs. 13 Feb.…Bruce

Fri. 14 Feb. 2025: Tier 1 and Tier 2 have (allegedly) been paid, I was just told.  …Mike Berra

Fri. 14 Feb. 2025: I’ve been told my platform (that has currency and bond holders in it) started today Fri. 14 Feb. and will start payments on Tues. 18 Feb. I expect currency notifications around same time. …JR Truth

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Sat. 15 Feb. 2025 DOGE Audit:

Fri. 14 Feb. 2025: Trump Announces DOGE’s Latest Bombshell Revelation: ‘Give Back The Money, Now!’ The Department of Government Efficiency (DOGE) was doing a widespread probe into the inner workings of the federal budget, much of which has been laid bare by leader Elon Musk over the past few weeks.

Sat. 15 Feb. 2025: A federal judge has just sided with Elon Musk and DOGE, allowing them access to the government information system!

Sat. 15 Feb. 2025: President Trump Ordered DOGE To Raid The IRS– Top Agents Already Reported To Be In The Building.

Sat. 15 Feb. 2025: As a direct result of DOGE audits 75,000 federal employees accepted President Trump’s buyout; 19,700 USAID employees will be let off, 1,300 CDC workers fired and the IRS will be cutting their workforce by 10%. Washington DC will soon be a ghost town with the thousands of homes there and in the surrounding area for sale.

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Global Financial Crisis:

Fri. 14 Feb. 2025: WARNING: BANKS ARE SHUTTING DOWN ACROSS 24 STATES – MASS CLOSURES UNDERWAY – amg-news.com – American Media Group

Fri. 14 Feb. 2025: BOOM!!! The Quantum Financial System Reigns Supreme: The National Quantum Initiative Act and GESARA NESARA Will Eradicate Financial Tyranny and Unite the World! VIDEO – amg-news.com – American Media Group

Read full post here:  https://dinarchronicles.com/2025/02/16/restored-republic-via-a-gcr-update-as-of-february-16-2025/

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

MarkZ   [via PDK]  Question:  Mark, do you think it’s possible the dinar will be on forex Monday Feb 17th-Presidents day? MarkZ:  I think it’s highly possible. I have multiple confirmations of bond commissions being paid in the last 24 hours on historic bonds… I am very excited but do not know what it means for our timing…yet. But this is money going to people I
know. People I know have money… I am very excited... a number of contacts now have spendable dollars...this has never happened before. This is brand new and gives me great hope. Question:   so once bonds are paid it’s our turn?  MarkZ:  Yes then it’s our turn.

Frank26  [Iraq boots-on-the-ground report] FIREFLY: Mr Sammy says, for what it is worth, now at this point, it will come out $3.50 to $3.80 and probably be a managed float. Meaning  10% growth daily.  Thinking out loud...it won't go much over four bucks...before settling back just ahead of Kuwait dinar...I could  be 100% wrong but I have a gut feeling. FRANK:  I think the reason why you have a gut feeling is because you have been allowed to attend some of the meetings that you cannot talk about...Concerning the new exchange rate...it can be anything from $0.50 to a  $1.00 or just over a dollar.  But I will admit, your...opinion that it may come out at three and above is logical because this is a  reinstatement...and it should start where it left off at $3.22.  

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‘Insiders’ Know the Plan Is in Motion – This Will Blow Up the Gold Price | Andy Schectman

Kitco News: 2-14-2025

Gold is making major moves, and behind the scenes, the system is shifting.

Is the U.S. preparing to revalue gold to tackle its $36 trillion debt crisis? Are we seeing the biggest gold repatriation in history? And why is gold flowing from London to the U.S. at record levels?

Andy Schectman, President of Miles Franklin Precious Metals, breaks down the gold revaluation rumors, BRICS’ gold-backed settlement plans, China’s aggressive gold buying, and the stress signals in the paper gold markets that could change everything.

Key Points:

Gold revaluation: Is the U.S. about to mark gold to market?

Why is gold moving from London to the U.S.?

BRICS and the global move toward a gold-backed system

China’s accelerating gold accumulation—what’s their endgame?

Paper gold market stress—could a COMEX default be next?

Will gold finally break out—or will governments intervene?

00:00 Introduction

01:10 Gold Revaluation Explained

02:29 Expert Insights with Andy Schechtman

 04:32 Global Gold Market Dynamics

 10:52 Repatriation and Accumulation of Gold

28:13 Paper Gold System Breakdown

31:39 Bank Failures and Gold Revaluation

 32:33 Global Gold Demand and Supply Issues

 33:59 China and BRICS Nations' Gold Strategies

42:32 US Debt Crisis and Gold Revaluation

47:30 Gold as a Safe Haven Investment

 48:07 Future of Gold Prices 59:06 Conclusion

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

“Tidbits from TNT” Sunday Morning 2-16-2025

TNT:

Tishwash:  Central Bank announces details of its meetings with the Treasury and the Federal Reserve

The Central Bank announced the end of the first quarterly meetings for the year 2025 with the US Treasury and the US Federal Reserve, which were held in Dubai / United Arab Emirates with the participation of international auditing and consulting firms (EY, K2 Integrity, Oliver Wyman). The meetings culminated in praise for the steps taken by the Central Bank of Iraq and the Iraqi government in reforming the banking sector, the most important of which were:

The development of the US dollar cash distribution system in Iraq, which they considered the most controlled and monitored system in the world, which limits manipulation and smuggling of the US dollar.

The qualitative shift in foreign transfer operations and the steps taken by the Central Bank of Iraq to address the risks arising from these operations, which have now risen to the levels of transfer operations carried out by international banks.

The consulting firms (EY and Oliver Wyman) reviewed the plans to reform and upgrade the public and private banking sectors in line with international standards and to facilitate the involvement of Iraqi banks in the international financial relations network.

Since the operations carried out by banks operating in Iraq depend largely on the trust of international correspondent banks in the Iraqi banking sector, we emphasize the need to ensure that the official channels of this bank are adopted to know the latest news and not to transmit incorrect news such as some Iraqi banks being subject to international sanctions and others.

Central Bank of Iraq
Media Office
February 16, 2025  link

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Tishwash:  Al-Sudani discusses with Airbus aircraft company modernizing the air fleet

Prime Minister Mohammed Shia Al-Sudani confirmed to Airbus today, Saturday, the acceleration of the implementation of the contract to equip Iraq with combat helicopters .

Al-Sudani's media office stated in a statement received by "Mil" that "the latter received, at his residence in Munich, the Executive Vice President of Airbus Helicopters, Stefan Thomme, and during the meeting, discussions were held on developing joint cooperation in the fields of training, maintenance and modernization of the air fleet, in light of the bilateral contract to equip Iraq with combat helicopters, with an emphasis on accelerating the procedures for implementing the terms of the contract ."

According to the statement, Al-Sudani stressed "the government's keenness and efforts to cooperate and partner with reputable international companies, and to provide all the necessary facilities to provide the appropriate ground for their work in Iraq ."  link

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Tishwash:  Al-Sudani discusses with an American senator enhancing cooperation between Iraq and the United States

Prime Minister Mohammed Shia Al-Sudani discussed, today, Saturday, with an American senator enhancing cooperation between Iraq and the United States .

A statement from Al-Sudani's office, received by "Mil", stated that the latter "received at his residence in Munich, the US Senator from the Democratic Party, Senator Elissa Slotkin."

The statement added, "The meeting discussed relations and ways to enhance cooperation between Iraq and the United States, in various fields in light of the joint agreements and understandings, for a long-term strategic relationship that serves the interests of both parties ."

For her part, Senator Slotkin affirmed "her country's support for Iraq, its aspirations, and its positions aimed at achieving security and stability in the region, in a way that secures the interests of the countries of the region and enhances sustainable stability ." link

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Tishwash:  Advisor to the Prime Minister: The principle of partnership with the private sector will strengthen the digital bond in its best form

Advisor to the Prime Minister for Financial Affairs, Mazhar Mohammed Saleh, confirmed today, Sunday, that the principle of partnership between the state and the private sector will strengthen the digital bond in its best form, indicating that digital industrial licenses facilitate obtaining industrial investment licenses through electronic platforms, and he stressed that entering into electronic governance will provide a high level of disclosure and transparency and a high level of information for the flow of trademarks.

Saleh said, in an interview with the Iraqi News Agency, followed by "Al-Eqtisad News", that "the Iraqi government seeks, according to the government program, to transform the processes of registering trademarks through digital platforms that facilitate the registration and protection of their trademarks for merchants and industrialists according to high governance and speed, in addition to digital industrial licenses that lead to facilitating the obtaining of industrial investment licenses through electronic platforms."

He added, "Industrial analysis and data services are a mechanism for providing industrial data and statistics via digital systems to facilitate decision-making related to the industry, as well as digital training and consulting, development and capacity building, such as organizing training courses on digital transformation tools and participating in online consulting programs at the same time."

Saleh explained that "entering into e-governance will provide a high level of disclosure and transparency and a high level of information for the flow of important brands that are consistent with the development of industrial development activity in the country, and interaction with technology sources in the world reflected by brands of global companies that are important in technological development," noting that "this in turn leads to accelerating the encouragement of research and development projects to enhance national industrial innovation in a renewed digital industrial age for Iraq."

He stressed that "the principle of partnership between the state and the private sector will strengthen the digital bond in its best form," explaining that "the objectives of the private sector development strategy also aim to have its contribution to the gross domestic product reach approximately 53 percent within a decade instead of its current status of 37 percent through diversifying investment in fields with industry at the forefront to generate diverse national production, which will lead to accelerating the reduction of unemployment to one decimal place and making it at the natural limit and not exceeding 4 percent of the total workforce."

He pointed out that "the industrial cities that will be built on the development path will represent the highest types of industrial modernization by taking advantage of the digital platforms that are being built for this purpose to accelerate obtaining the relevant industrial and commercial licenses." link

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Mot: .... Ever Have un of Those ""So Much to Do"" Moments!!

Mot: . Making Good Decisions is Key!!! 

Iraq Economic News and Points to Ponder Saturday Afternoon 2-15-25

Central Bank Records Highest Dollar Sales In A Week

2/15/2025  Mawazine News – Economy  The Central Bank of Iraq announced today, Saturday, its total sales of the US dollar during the past week, which amounted to 1 billion, 468 million, 598 thousand, and 897 dollars, through the auction that was held over 5 days last week.

The daily average of sales amounted to 293 million, 719 thousand, and 775 dollars, down from the previous weekly average of 296 million, 736 thousand, and 787 dollars.

Monday of last week recorded the highest sales of the dollar, reaching 301 million, 529 thousand, and 539 dollars, while Wednesday recorded the lowest sales, amounting to 286 million, 48 thousand, and 422 dollars.

Foreign remittance sales during the past week amounted to 1 billion, 393 million, 348 thousand, and 397 dollars, while cash sales were 75 million and 250 thousand dollars. https://www.mawazin.net/Details.aspx?jimare=259575

The Dollar Exchange Rate Decreased In The Iraqi Markets

02/15/2025  Mawazine News - Economy  The US dollar prices witnessed a decrease today, Saturday, in the markets of the capital Baghdad, and in Erbil, the capital of the Kurdistan Region, with the closing of the stock exchange.

The dollar prices decreased with the closing of the Al-Kifah and Al-Harithiya stock exchanges to record 150,150 dinars for every 100 dollars, while the prices were 150,300 dinars for every 100 dollars this morning.

As for the selling prices in exchange shops in the local markets in Baghdad, they decreased, as the selling price reached 151,000 dinars for every 100 dollars, while the purchase price reached 149,000 dinars for every 100 dollars.

As for Erbil, the dollar also recorded a decrease, as the selling price reached 150,100 dinars for every 100 dollars, while the purchase price reached 150,000 dinars for every 100 dollars https://www.mawazin.net/Details.aspx?jimare=259582

Prime Minister And US Senator Discuss Cooperation Between Iraq And The United States

Political | 04:22 - 02/15/2025   Mawazine News – Baghdad  Prime Minister Mohammed Shia al-Sudani discussed today, Saturday, with US Senator Elissa Slotkin cooperation between Iraq and the United States.

The Prime Minister's media office said in a statement received by "Mawazine News": "Prime Minister Mohammed Shia al-Sudani received at his residence in Munich, US Senator from the Democratic Party, Senator Elissa Slotkin."

He added that "during the meeting, they discussed relations and ways to enhance cooperation between Iraq and the United States in various fields in light of the joint agreements and understandings, for a long-term strategic relationship that serves the interests of both parties."

For her part, Senator Slotkin affirmed - according to the statement - her country's support for "Iraq, its aspirations, and its positions aimed at achieving security and stability in the region, in a way that secures the interests of the countries of the region and enhances sustainable stability." https://www.mawazin.net/Details.aspx?jimare=259580

Two Trillion Dinars Iraqi Loss In Wheat Sales

February 15, 2025  Two trillion dinars lost from wheat sales and parallel banks threaten the economy
Baghdad - Qusay Munther  An economic expert confirmed that the government's loss from selling wheat crops to private mills amounted to two trillion dinars. He pointed out that this loss, which some describe as support for farmers, is not in line with clear economic goals such as reducing imports and increasing local production.

Expert Manar Al-Obaidi said in a statement received by Al-Zaman yesterday that (the government bought wheat from farmers at a price of 850 thousand dinars per ton, then sold it to mills at a price of 450 thousand dinars per ton, which resulted in a loss of 400 thousand dinars per ton), adding that (if 5 million tons were purchased, the total loss for the state would be two trillion dinars),

Al-Obaidi explained that (some consider this loss to be support for farmers, but if the support is real, why have we not seen an increase in the contribution of the agricultural sector to the GDP, and the state is still importing large quantities of wheat and flour from countries such as Turkey, America and Australia?),

Al-Obaidi wondered (why do poverty levels remain high in rural areas that produce wheat, and specific goals for this support are not achieved, such as reducing flour imports, increasing local food production, and providing job opportunities, instead of the money paid to support wheat going to other markets across the border),

Al-Obaidi went on to say that (the parallel banking system in Iraq is one of the most prominent economic challenges that affect the stability of the financial system, as it consists of institutions Financial institutions operate outside the framework of official supervision,

but provide services similar to official banks such as lending, money transfers and receiving deposits), and he pointed out that (these institutions have emerged gradually over the past twenty years, as a result of the absence of effective supervision and the increasing demand from small and medium enterprises that constitute about 84 percent of the informal economy),

and Al-Abidi explained that (this system enhances the shadow economy and increases the difficulty of monitoring the movement of money, which exposes the economy to illegal practices such as tax evasion and money laundering),

calling for (the need to adopt firm solutions to close the gap between the official and informal banking systems, such as regulating the work of informal financial institutions and providing incentives to encourage small enterprises to join the formal sector.

He added that the optimal solution in some cases may be to completely close these unlicensed institutions to ensure the protection of the economy from risks). Meanwhile, the Ministry of Commerce intends to launch a new batch of the food basket before the advent of Ramadan, stressing the continuation of its supervisory teams in monitoring the markets to ensure price stability and protect citizens' purchasing power.

The ministry’s spokesman, Mohammed Hanoun, said in a statement yesterday that “the ministry has set next Thursday as the date for distributing the food basket items, which will contribute greatly to stabilizing food prices in local markets during the month of Ramadan.”

He added that “the food basket has contributed to providing food security for citizens, as Iraq is one of the food-stable countries in the region and the world,” noting that “the food basket has helped poor families and families below the poverty line to obtain the food they need, and has worked to a large extent to stabilize food prices in local markets during the period of preparation for the holy month.”

He stressed that “trade anticipated the arrival of the month of Ramadan with a set of measures, through which it supported the stability of food prices locally, including the process of monitoring and auditing local market prices in coordination with National Security and the Organized Crime Department in the Ministry of Interior.”  LINK

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

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 2-15-25

Good Afternoon Dinar Recaps,

AI DEVELOPMENT WILL LEAD TO WIDER STABLECOIN ADOPTION

As crypto continues to make headlines at the individual state level as well as the federal level, the race between crypto and AI for most mentions in financial media continues to volley back and forth depending on the week in question.

Recently the spat between Elon Musk and Sam Altman made additional headlines as the two tech titans feuded publicly regarding the future of OpenAI, headlines connected to the potential investment into OpenAI by Softbank, as well as the idea of a purchase (to be led by Musk) of OpenAI for approximately $100 billion.

Crypto has also generated significant headlines in recent days, as Federal Reserve Chairman Jerome Powell (seemingly) backtracked on previous statements and actions related to crypto banking opportunities in testimony to Congressional leaders.

At the same time, even more states have begun the process of introducing legislation to allow direct investment into bitcoin and other digital assets, with Wyoming continuing to forge ahead with efforts to issue a dollar-backed stable token maintaining positive momentum.

Even as bitcoin and the concept of a digital asset stockpile move forward, stablecoins are also accelerating in terms of market capitalization, usage, and the education of policymakers and potential users alike.

In the midst of these market headlines, it would be easy to overlook a simple yet powerful truth about the future of AI, crypto, and how these industries will continue to evolve and influence each other over time. Let’s take a look at how (and why) stablecoins will play a critical role in the further development and integration of AI across businesses in the near to medium term.

Stablecoins Will Power Payments

As the adoption and understanding of the benefits of tokenized payments become better understood the appetite and investment into stablecoin payments has continued to increase.

Privately issued stablecoins, by non-bank entities, are worth in excess of $200 billion dollars with the volume of transactions continuing to increase. 

TradFi institutions across the globe have developed and implemented blockchain-based solutions and token-based solutions for internal clients, with PayPal, Visa, and Mastercard embracing similar trends; PayPal has even issued a native stablecoin to facilitate stablecoin transactions even further.

Bitcoin and other more volatile cryptoassets, including the much-maligned memecoin space, generate headlines, but stablecoins reflect the best of both worlds for crypto transactions. 

The speed and efficiency of tokenized transactions, when coupled with the stability of stablecoins or stable tokens, present a business case that is difficult to argue against. 

Reinforced by the prioritization of dollar-backed stablecoins in the recent executive order issued by the White House and the landscape looks primed for a dynamic year for stablecoin adoption.

@ Newshounds News™

Source:  Forbes

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BRICS STATEMENT PUSHES DE-DOLLARIZATION, DESPITE TRUMP WARNING

As geopolitical tensions rise, both the West and the global South have shown no desire to relent in their positions. Indeed, a recent BRICS statement regarding the 2025 summit has pushed further de-dollarization despite US President Donald Trump’s most recent tariff warning.

This week, Trump once again reiterated his strong message to the economic alliance. Specifically, he noted that any effort to continue trading outside of the US dollar would result in 100% tariffs on the alliance. Despite this, the BRICS 2025 chairmanship holder, Brazil, has continued to discuss the need for economic reform on a global scale.

BRICS Remain Committed to De-Dollarization as Trump’s Threats Persist

The geopolitical arena is observing a standoff that could result in an eventual trade war.

Throughout last year, Donald Trump has championed the importance of the US dollar’s status as the world’s currency. Specifically, he noted that if the greenback was no longer a global reserve asset, it would be akin to the nation losing a war.

That led him to combat the growing BRICS alliance. Specifically, he went after the group for discussions they’d had in creating an alternate trade currency for the collective.

He warned of increased import taxes that would threaten their potential to benefit the economy from the US if they did not announce they were ceasing the project.

The group would deny the single currency plan but not its efforts to diversify trade settlement currencies. Now, the two have come to a head, as a recent BRICS statement signals further de-dollarization despite Trump’s most recent tariff threats.

Brazil has been elected as the current alliance president in their rotating leadership model. Let one not forget it was Brazil and President De Lula who first championed the idea of ditching the US dollar two years ago. Conversely, in a statement on the 2025 BRICS summit, they included economic and financial reform, according to a Yahoo report.

Specifically, they are seeking reformation of the International Monetary Fund (IMF). More specifically, it is looking to bolster the BRICS New Development Bank (NDB). Known as the BRICS Bank, it has pioneered initiatives to further the use of local currencies in trade.

“US President Donald Trump has voiced anger at the proposal,” the report said. Moreover, it further creates the belief that those tariffs may well be implemented—a move that could have massive implications.

@ Newshounds News™

Source:  Watcher Guru

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CARDANO FOUNDER REVEALS HOW META, GOOGLE, & APPLE CAN REPLACE L1 NETWORKS

Cardano founder Charles Hoskinson has revealed how tech companies Meta, Google, Amazon, Microsoft and Apple could replace Layer-1 networks.

▪️Cardano founder Charles Hoskinson explained that these tech companies could replace layer-1 networks if the stablecoin bill passes.

▪️He noted that these companies are in a good position to overtake these blockchain networks since they already have more users.

▪️He predicts that these companies could go as far as creating their own layer-1 networks.

Cardano founder Charles Hoskinson has explained how the top tech companies Meta, Google, Apple, Microsoft, and Amazon could replace Layer-1 networks. According to him, these companies could easily establish their blockchain infrastructure once they achieve regulatory clarity.

@ Newshounds News™

Read more:  CoinGape   

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Largest Credit Crisis in History

Largest Credit Crisis in History

WTFinance:  2-14-2025

The WTFinance podcast recently welcomed back Alasdair Macleod, a renowned expert in sound money, economics, geopolitics, and precious metals. Macleod delivered a sobering assessment of the global landscape, covering a wide range of critical issues, from the underappreciated resilience of gold to the looming specter of a credit crash.

During the engaging discussion, Macleod painted a picture of a world teetering on the brink of significant change, driven by geopolitical shifts, unsustainable debt levels, and a fundamental reshaping of the global economic order. Here’s a breakdown of the key talking points:

Macleod believes gold is currently flying under the radar of mainstream investment, despite its crucial role in the unfolding global narrative. He emphasizes that while Western investors might be overlooking it, central banks in the East, particularly China and Russia, are actively accumulating gold, laying the groundwork for a potential shift in the global monetary system.

The conversation delved into the changing dynamics of global power. Macleod suggests the US is subtly distancing itself from Europe, focusing instead on its internal stability and potentially shifting its strategic focus to the Pacific. He also predicts that China is poised to further solidify its dominance in global manufacturing, driven by its robust infrastructure and manufacturing capabilities.

Macleod is deeply critical of the European Union, predicting significant turmoil and even a potential “bust.” He points to the inherent structural weaknesses of the Eurozone, highlighting the unsustainable debt burdens of some member states and the lack of fiscal unity as key vulnerabilities.

A central theme of the discussion was the unsustainable global debt bubble. Macleod warns that we are rapidly approaching a point where the debt burden becomes unserviceable, inevitably leading to a significant credit crash. He believes that governments will resort to the “monetization of all debt,” essentially printing money to cover obligations, which will ultimately debase currencies and fuel inflation.

The depreciation of the British Pound was discussed as a symptom of broader economic challenges. Macleod sees it as a reflection of the UK’s own debt burden and its vulnerability to global economic shocks.

Macleod highlighted the significant flow of gold from West to East. He connects this phenomenon to the deliberate strategy of countries like China and Russia to build their gold reserves, potentially paving the way for a gold-backed currency in the future. This shift could fundamentally alter the global monetary order, potentially dethroning the US dollar as the world’s reserve currency.

The podcast paints a picture of an emerging multi-polar world, where the dominance of the United States is gradually diminishing. This new world order will be characterized by increased competition and a rebalancing of power between different nations and economic blocs.

When asked for one takeaway message, Alasdair Macleod likely stressed the importance of understanding the interconnectedness of these factors and the critical role of sound money principles, including holding precious metals like gold and silver, as a hedge against the looming economic uncertainty.

He likely advised listeners to prepare for significant changes in the global economic and political landscape and to take steps to protect their wealth from the coming storm.

The WTFinance podcast with Alasdair Macleod offers a stark warning about the fragility of the current global economic system.

While the predictions are undeniably concerning, they serve as a valuable wake-up call, urging listeners to educate themselves, understand the risks, and take proactive measures to navigate the turbulent times ahead.

https://youtu.be/HDvwVBjbBOk

Iraq Economic News and Points to Ponder Saturday AM 2-15-25

Green Oil ... A Basic Pillar For Achieving Food Security
 
Economic 2025/02/13   Baghdad: Imad of the emirate  It is dependent on the achievement of food security by
 
     improving the performance of the agricultural sector and the
     stimulation of industries, especially those that depend on agricultural and animal products, such as the
     manufacture of tomato paste, jams and dairy, and the production of meat, lumbar and woolen textiles, and leather industry, in a way that achieves the principle of integration between the sectors (industry and agriculture) as the most important sectors in increasing national income And his permanence.

In order to reach this goal, the  government encourages the private sector to  establish agricultural / industrial complexes or what is called "green oil".
 
The former Undersecretary of the Ministry of Agriculture, Dr. Mahdi Al -Qaisi, said:
 
Food manufacturing includes a group of industries that all depend on plant and animal agricultural products and marine and fish products, usually
 
food manufacturing is that it is one of the most prominent pillars of food security.
 
Al -Qaisi added, in an interview with "Al-Sabah", that the
 
increase in plant agricultural production and livestock in quantity and quality contribute to the advancement of food manufacturing outputs by
 
providing the initial material necessary for this industry and
upgrading various preservation and manufacturing operations such as canning, drying, freezing, fermentation, etc., indicating that the
 
food industry aims to obtain On a product that meets the consumer's desires and ensures its health and nutritional quality.
 
Absorbing the Surplus
 
Regarding the goals of preserving and manufacturing food, Al -Qaisi explained that it is the
 
conservation as much as possible for its natural characteristics
     away from pollution and
     changes that occur in their quality during storage and circulation, and to
     absorb the surplus of crops and agricultural products and
     manufacture them to find a balance between supply and demand and price stability, which
 
encourages farmers to produce more and at a continuous pace. He pointed out that
 
Food Manufacturing
 
     maintains agricultural crops from damage and
     prolonging their treasury life, and
     contributes to absorbing unemployment and
     creating many and varied areas of work.

Al -Qaisi pointed out that lunch
 
manufacturing is the optimal investment of agricultural raw materials and obtaining secondary products from manufacturing operations that constitute an added economic value, noting that
 
this reflects the change of the consumer food pattern, which reflects on
     reducing waste and losing food and
     achieving economic feasibility
 
to face accelerated population increases and the increasing rise in food prices Globally.
 
Manufacturing Activities
 
And on the process of upgrading food industries in Iraq, between the agricultural expert: that the food industries sector in Iraq is exposed to a relatively long long period of time to stop in a number of factories and manufacturing activities for several reasons, the most prominent of which is commodity dumping, so it requires serious consideration in the issue of supporting and upgrading national food industries
 
To take its true position in food and economic security.
 
Industrial Crops
 
For his part, economic affairs specialist, Dr. Ahmed Al -Rawi, stated that
 
Iraq is one of the agricultural countries that are characterized by the production of crops that can be manufactured such as dates, diabetic beets, sesame and vegetables, again the
 
call for a number of industries that depend on these crops, which encourages farmers to demand the cultivation of industrial crops It helps its development. Al-Rawi told Al -Sabah:
 
The entry of agricultural products in manufacturing leads to the withdrawal of the surplus of agricultural crops at the time of the peak of its productive season, which maintains their prices from landing, usually  food security for any country as part of its national security, and that
 
one of the procedures for supporting food security is is The establishment of advanced food industries helps to provide the individual-made foods, especially in times of environmental disasters, wars and crises.  https://alsabaah.iq/110110-.html 

Prime Minister: The Government Has Taken A Series Of Measures To Facilitate Companies’ Work In The Field Of Digital Transformation

Money and business  Economy News – Baghdad  Prime Minister Mohammed Shia Al-Sudani confirmed today, Friday, that the government has taken a series of measures to facilitate the work of companies in the field of digital transformation.

The Prime Minister's Media Office said in a statement received by "Al-Eqtisad News", "Prime Minister Mohammed Shia Al-Sudani received the CEO of the German company (Veridos), Mark Seifert, on the sidelines of his participation in the 61st Munich Security Conference."

The statement added that "the meeting discussed developing cooperation with the global company specialized in printing passports and national cards, through its factory in the capital, Baghdad, which is one of the most prominent links in the economic relationship between Iraq and Germany."

Al-Sudani welcomed - according to the statement - the tasks carried out by the company and reviewed its programs, especially those related to digital transformation in developing government services for citizens, indicating that "the government has taken a series of measures within its program to facilitate the work of companies to achieve tangible progress in this field."
https://economy-news.net/content.php?id=52795

Oil Prices Continue To Decline At Settlement

Friday 14 February 2025 | Economic Number of readings: 422  Baghdad / NINA / Oil prices continued to decline at settlement, for the second day in a row, after a series of gains that lasted for three days.

Brent crude futures fell by 16 cents, or 0.21 percent, to settle at $ 75.02 per barrel. "

West Texas Intermediate crude futures also fell by 8 cents, or 0.11 percent, to settle at $ 71.29 per barrel."

The decline came after three days of gains, following the US Energy Information Administration's announcement, earlier on Wednesday, of an increase in crude oil and distillate inventories, and a decline in gasoline inventories last week. / End
https://ninanews.com/Website/News/Details?key=1185576

Al-Sudani Discusses With A Spanish Company Building Iraqi Capabilities In The Field Of Military Industries

Buratha News Agency15020 25-02-14  In Munich, Prime Minister Mohammed Shia Al-Sudani discussed with the head of the Spanish Indra Group building Iraqi capabilities in the field of military industries.

A statement from his office said that Al-Sudani "received at his residence in Munich, today, Friday, the head of the Spanish company (Indra), Angel Escribano, and his accompanying delegation, which is a company specialized in the field of information technology, simulation and automated testing equipment, and electronic defense systems."

The guest delegation reviewed the company's work and contracts in Iraq, where discussions are currently underway with the Ministry of Interior regarding the supply of border security control and monitoring devices.

During the meeting, Al-Sudani stressed "the importance of expanding cooperation mechanisms with Indra Company, and directed to secure a meeting for it with the head of the Military Industrialization Authority to enter into joint projects, including technology transfer and building Iraqi capabilities in the field of military industries."   https://burathanews.com/arabic/news/456428

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

Seeds of Wisdom RV and Economic Updates Saturday Morning 2-15-25

Good Morning Dinar Recaps,

BRAZIL REJECTS BRICS CURRENCY BUT PLANS TO REDUCE US DOLLAR DEPENDENCY

Brazil is all set to chair the 17th BRICS summit in Rio de Janeiro in July this year. The presidency will not advance a BRICS currency but plans to reduce dependency on the US dollar, said four Brazil government officials on the condition of anonymity.

The agenda of the upcoming summit aims to pave the way to end reliance on the US dollar.

The next BRICS summit will discuss the advancement of cross-border payments and cement policies that prefer local currency usage. The move will bring inflation in the US making daily essentials skyrocket and could also lead to job cuts.

Brazil Will Not Work on BRICS Currency But Aim to End Reliance on US Dollar

The Brazilian officials revealed that the idea of a common BRICS currency has not entered technical discussions yet, though Brazil’s President Luiz Inacio Lula da Silva was among the first leaders to flout the idea.

The government officials told Reuters that the next summit will see trade policies solely focused on local currencies.

However, the officials said that reducing reliance on the US dollar does not mean the alliance targets the West. “It’s not directed against anyone,” said the source.

The bloc is also eyeing multilateral bodies like the Bank for International Settlements (BIS) for cross-border transactions. Therefore, BRICS currency might not be a reality now but de-dollarization will be kept alive in different forms.

Sources state that BRICS does not want to launch a currency due to Trump’s erratic behavior. The President warned that if the alliance stops using the US dollar, it will face tariffs on goods entering the country. “There is no chance that BRICS will replace the US Dollar in International Trade, or anywhere else, and any Country that tries should say hello to Tariffs, and goodbye to America!” Trump wrote on Truth Social.

@ Newshounds News™

Source:  Watcher Guru

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US IRS PREPARES TO LAY OFF THOUSANDS OF WORKERS, SOURCES SAY

Feb 14 (Reuters) - The U.S. Internal Revenue Service is preparing to fire thousands of workers in the coming days, a move that could squeeze resources at the tax-collecting agency during the critical tax-filing season, two people familiar with the matter said.

Officials from the Office of Personnel Management, which oversees federal hiring, ordered all agencies on Thursday to dismiss their probationary employees, workers who are newer to their positions and do not enjoy full job protections.

The IRS remains busy for months after the deadline, processing returns and delivering refunds to taxpayers.

The IRS layoffs, first reported by the New York Times, come as part of a broader effort by President Donald Trump and Elon Musk's overhaul of the federal government, which they argue is too bloated and inefficient, and ripe with waste and fraud.

The IRS did not immediately respond to a request for comment.

The second person familiar with the impending layoffs expressed concerns that the cuts would be made without care to how it might hinder the agency's operations.

"They are trying to reduce numbers across the board with no analysis to the impact it will have on operations," the person said.

@ Newshounds News™

Source:  Reuters

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GEORGIA PLANS BITCOIN INVESTMENTS FOR STATE TREASURY FUNDS

▪️Georgia proposes a bill allowing the state treasurer to invest in Bitcoin to diversify public funds.

▪️The bill aims to use Bitcoin as a hedge against inflation, with strict regulations for risk management.

Georgia has introduced a bill that would authorize the state treasurer to invest public funds in Bitcoin. Many parties were quickly drawn to this action as, up to now, Bitcoin has been more recognized as a speculative asset than a state investment tool.

Once regarded as ‘digital gold’ for young techies, Bitcoin is beginning to find its way into government coffers. This measure intends to diversify Georgia’s financial reserves by including some money into the digital asset. Legislators, on the other hand, view Bitcoin’s usefulness as a hedge against the inflationary upheaval still afflicting the world economy.

@ Newshounds News™

Read more:  Crypto News Flash  

~~~~~~~~~

ISRAEL ANNOUNCES NAMES OF THREE HOSTAGES SET FOR SATURDAY RELEASE FROM GAZA

CNN  —  Israel has announced the names of the three hostages set to be released Saturday, in what would be the sixth exchange of hostages and Palestinian prisoners under the Gaza ceasefire deal that came into effect last month.

Israel said Friday that Palestinian militants will release American-Israeli Sagui Dekel-Chen, Russian-Israeli Alexandre Troufanov and Argentinian-Israeli Iair Horn.

A release of 369 Palestinian prisoners by Israel is expected to follow, Hamas’ Prisoner Media Office said.

Newshounds News™

Source:  CNN

~~~~~~~~~

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“Tidbits From TNT” Saturday Morning 2-15-2025

TNT:

Tishwash: The Central Bank of Iraq is among the top 10 banks buying gold in the world

The Central Bank of Iraq ranked seventh on the list of central banks that bought the most gold in 2024, according to data from the World Gold Council.

The volume of gold purchases by the Central Bank of Iraq in 2024 amounted to about 20 tons, surpassing Hungary, Uzbekistan and Ghana, while the first six countries on the list are Poland, Turkey, India, Azerbaijan, China and the Czech Republic.

Here is a list of the top 10 central banks buying gold in 2024 :

Poland: 89.5 tons

Türkiye: 74.8 tons

India: 72.6 tons

Azerbaijan: 44.8 tons

China: 44.2 tons

Czech Republic: 20.5 tons

Iraq: 20.1 tons

Hungary: 15.5 tons

Uzbekistan: 11 tons

 Ghana: 11 tons  link

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

Tishwash:  Iraq moves towards globalization.. Implementation of international accounting standards begins in 2026

The former director of the Financial Supervision Bureau, Salah Nouri, revealed the steps taken by Iraq to move to fully implement international accounting standards by 2026.

Nouri said in a statement to {Euphrates News} that: "The unified accounting system, which was adopted in the mid-eighties, was appropriate for the economic situation at the time; but it led to Iraq's delay in keeping pace with international standards."

He added, "The Accounting and Auditing Standards Board adopted 14 accounting rules according to international standards until 2016; but that was not enough to keep pace with global developments. In 2017, the board made a bold decision to adopt all international accounting standards, with the aim of enhancing financial transparency and attracting foreign investments, especially in the oil and banking sectors."
Nouri pointed out that "the committee tasked with preparing the new unified accounting system completed its work in 2019, and the implementation of international standards was announced in 2021, but the Corona pandemic postponed this implementation."

He stressed that "the year 2026 will witness the final implementation of these standards, which will make the Iraqi accounting environment consistent with the requirements of global financial markets."
“This step will encourage foreign companies to invest in Iraq and will provide transparent financial data that will help in making sound investment decisions,” Nouri concluded.

International accounting standards are a common language for companies around the world, making it easier for investors to understand companies’ financial statements and make informed investment decisions.

This step comes as part of Iraq’s efforts to enhance financial transparency and attract foreign investment, especially in light of the economic challenges facing the country. link

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

Tishwash:  Framework MP calls on Parliament to pass important laws before the end of its constitutional term

Representative of the Coordination Framework, Salem Al Anbaki, called on the House of Representatives to continue performing its duties by discussing and approving important laws that affect the lives of citizens and serve the country.

Al-Anbaky confirmed to {Euphrates News} that "approving these laws before the end of the parliament's constitutional term represents a real duty that must be focused on."

Regarding the mechanism for dealing with laws, Al-Anbaky pointed out that "there is an approach followed by the parliament's presidency in managing the legislative file," noting "the lack of clarity about the method followed to determine priorities, whether by temporal precedence, based on importance, or according to what is presented by parliamentary committees."

Al-Anbaky called for "the necessity of adopting a transparent mechanism for legislating laws in a way that ensures the priority of legislation that touches on citizens' needs and aspirations."  link

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

Tishwash: Iraq meets with NATO in Baghdad.. Al-Sudani stresses long-term partnership

Prime Minister Mohammed Shia Al-Sudani received today, Friday, at his residence in Munich, the Commander of the NATO Joint Forces Command, Admiral Stuart Munch.

During the meeting, they discussed enhancing bilateral cooperation with NATO in the field of training, intelligence coordination, and logistical support, based on the outcomes of the recent visit of the NATO Commander to Iraq.

It was also emphasized that the high-level security dialogue would continue in preparation for the bilateral meeting to be held in Baghdad later this year.

The Prime Minister stressed the importance of cooperation, in light of the long-term partnership with NATO, through the advisory role in the field of combating terrorism and developing and rehabilitating the Iraqi security forces, in a way that contributes to strengthening Iraq's security and stability.

For his part, Admiral Munch stressed the importance of the bilateral relationship in the field of providing advice and training, praising the great development in the capabilities of the Iraqi forces to confront challenges and impose security.  link

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Mot: UH OH - the day after!!! 

Mot: That Was a Close un Bob

Some “Iraq News” Posted by Clare at KTFA 2-14-2025

KTFA

Clare: Source: Loans and advances have been suspended in banks since the beginning of the year.. and the reasons are revealed

2/14/2025

 An informed source reported that Iraqi banks have not issued any loans or advances since the beginning of this year until now.

The source told Al Furat News Agency that "the reason behind this halt is the lack of financial liquidity and the required allocations." 

He pointed out that it is also likely that "the suspension will be to await the approval of the new controls and conditions by the Central Bank of Iraq and other relevant authorities, in preparation for their launch.   LINK

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Clare:  Al-Sudani Heads to Germany to Participate in the 61st Munich Security Conference

2/13/2025  Baghdad-
 
Prime Minister Mohammed S. Al-Sudani Headed to Germany to Participate in the 61st Munich Security Conference following the conclusion of his official visit to the Czech capital, Prague, which included the following:
 
Holding extensive discussions with the Prime Minister of the Czech Republic.
 
Meeting with the President of the Czech Republic.
 
Meeting with the Speaker of the Czech Parliament.
 
Overseeing the signing ceremony of the air transport agreement between the Iraqi and Czech civil aviation authorities.
 
Overseeing the signing of five memoranda of understanding:
 
A memorandum of understanding between the Iraqi Ministry of Oil and the Czech Ministry of Industry and Trade.
 
A draft memorandum of understanding between the Ministries of Interior of Iraq and the Czech Republic.
 
A cooperation memorandum between the Iraqi and Czech Federations of Industries.
 
A cooperation memorandum between the Iraqi and Czech Chambers of Commerce.
 
A letter of intent with the Iraqi Ministry of Environment.
 
Attending a meeting of the Chamber of Commerce and the Federations of Industries in Iraq and the Czech Republic.
 
Meeting with members of the Iraqi community in the Czech Republic.
 
Receiving a representative from Aero Vodochody, a company specializing in aircraft manufacturing.
 
Receiving a representative from UNIS, a company specializing in oil and gas production and petrochemical industries.  LINK

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Clare: Al-Sudani receives a delegation from Klass Company in Munich

2/14/2025  Baghdad /

 Prime Minister Mohammed Shia Al-Sudani received today, Friday, a delegation from Klas Company, which specializes in agricultural equipment, on the sidelines of his participation in the 61st Munich Security Conference.

Al-Sudani praised the work of the company, which has proven its success in Iraq and gained the trust of Iraqi farmers for its strength, pointing out that there is a popular market in Iraq for agricultural equipment, including equipment manufactured by Klas Company, in addition to the importance of cooperation and partnership with the General Company for Agricultural Equipment, and building a production line in Iraq.

Al-Sudani stressed that the government program has allocated a large space to support the agricultural sector, due to its connection to food security, and its contribution to strengthening and diversifying the economy, pointing out that Iraq exports large quantities of local wheat, after successful seasons of cultivation and continuous government support for farmers.

For his part, the delegation reviewed the work of the company, which has been present in Iraq for decades, and the desire to establish a real partnership, and the company's readiness to build a training center to develop Iraqi capabilities, as well as build a center to provide service for maintenance work of equipment and machines.LINK

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Clare:  Iraq wins the position of Vice President of the Middle East Committee of UNTO

2/12/2025  Baghdad - 

Iraq achieved a remarkable achievement today, Wednesday, by winning the position of Vice President of the Middle East Committee of the United Nations Tourism Organization.

The correspondent of the Iraqi News Agency (INA) reported: "Iraq participated in the fifty-first meeting of the Regional Committee for the Middle East of the United Nations Tourism Organization, in the presence of a number of Arab tourism ministers and tourism sector officials in member states."

He added, "Iraq achieved a remarkable achievement by winning the position of Vice President of the Middle East Committee, in a step that reflects the progress witnessed by the Iraqi tourism sector and its growing role at the regional and international levels."

He continued, "The Iraqi delegation, headed by Nasser Murad Ghanem, Chairman of the Tourism Authority, and including Jabbar Manloon Al-Gharibawi, Director General of the Department of Tourism Facilities, and Ali Yassin, Director of the International Relations Department, held intensive meetings with their counterparts from Arab countries to enhance joint cooperation in the tourism field, and presented souvenirs to the participants, including copies of the blog "Baghdad, the Capital of Arab Tourism for the year 2025", the Baghdad Tourist Guide, and carpets decorated with pictures of Iraqi historical and archaeological sites, in addition to medals bearing the logo of Baghdad, the Capital of Arab Culture and Tourism."

He continued, "This achievement is an important step to enhance Iraq's position on the regional and international tourism map, especially with its preparations to host the events of "Baghdad, the Capital of Arab Tourism for the year 2025", which represents a great opportunity to highlight Iraq's rich cultural and historical heritage."  LINK

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Clare:  Minister of Electricity discusses station maintenance with General Electric in preparation for summer

2/14/2025

Minister of Electricity Ziad Ali Fadel held a meeting with officials from the American company General Electric, to discuss the progress of maintenance work on the power stations according to the long-term maintenance contract between the two parties.

The Minister's media office explained in a statement received by {Euphrates News}, that "the contract includes periodic maintenance for about 14 power stations in various Iraqi governorates, in addition to providing original spare parts for consumed equipment, which contributes to ensuring the continuity of the stations' operation with high efficiency."

The Minister stressed "the need to accelerate the completion of maintenance work according to the specified timetables, in preparation for the peak demand season for electricity during the summer." 

These meetings come as part of the Minister's continuous follow-up of plans to develop the electricity sector and ensure the readiness of stations to meet citizens' needs for electrical energy. LINK