Seeds of Wisdom RV and Economic Updates Monday Evening 3-17-25

Good Evening Dinar Recaps,

ACTING SEC CHAIR UYEDA DIRECTS STAFF TO REEXAMINE PROPOSED CRYPTO CUSTODY RULE

▪️The custody rule, proposed under the former Biden administration and when Gary Gensler led the agency, would expand the current custody rule to include any client assets that an adviser has custody over.

▪️Acting Chair Uyeda’s move to revisit the rule marks the second time this month that the acting chair has asked the SEC staff to reconsider its rules.

The U.S. Securities and Exchange Commission is considering walking back a proposal to tighten cryptocurrency custody requirements, marking the acting chair's latest move under the Trump administration.

SEC Acting Chair Mark Uyeda said commenters had significant concerns over a rule proposed in February 2023 that would require registered investment advisers to keep crypto with a qualified custodian and require those custodians to abide by certain requirements.

"Given such concern, there may be significant challenges to proceeding with the original proposal," Uyeda said on Monday at the Investment Company Institute's 2025 Investment Management Conference in San Diego. "As such, I have asked the SEC staff to work closely with the crypto task force to consider appropriate alternatives."

Uyeda's speech on Monday primarily focused on the SEC's rulemaking process, including potentially withdrawing or re-proposing rules or delaying compliance dates.

The custody rule, proposed under the former Biden administration when Gary Gensler led the agency, would expand the current custody rule to include any client assets that an adviser has custody over and would also add more protections to those assets.

Registered investment advisers are subject to a custody rule, which requires them to maintain those assets with a qualified custodian, such as a bank or broker-dealer.

The rule would extend those standards to the crypto industry, raising concerns about whether that would further limit the number of banks willing to do business with the sector.

Congressional Republicans, crypto firms and traditional finance companies pushed back against the rule when it was proposed. A coalition of bank and financial industry associations, including the American Bankers Association, said at the time that the proposal "could have a material impact on their business."

Uyeda's move to revisit the rule marks the second time this month that the acting chair has asked the SEC staff to reconsider its rules. Last week, Uyeda said he directed the agency's staff to review a proposed rule change that would expand the definition of an "exchange" in a way that could potentially loop in decentralized crypto projects.

Both actions signal a change in course for the SEC under the new Trump administration. During the previous Biden administration, former Chair Gensler said most cryptocurrencies besides bitcoin were securities.

Since the Trump administration's arrival, the SEC has rapidly changed direction on several key crypto policies. In a matter of just a few weeks, it has:

▪️Rescinded controversial crypto accounting guidance
▪️Dropped enforcement actions against major crypto industry players
▪️Created a crypto task force
▪️Issued a statement on memecoins.

The crypto task force's first roundtable to discuss "defining security status" is on Friday. 

@ Newshounds News™
Source:  The Block

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PAKISTAN CRYPTO COUNCIL LAUNCHES TO REGULATE DIGITAL ASSETS

The newly established Pakistan Crypto Council aims to integrate blockchain technology and digital assets into the country’s financial system through clear regulations and innovation-driven policies.

Finance Minister Muhammad Aurangzeb, serving as Chair, emphasized the government’s dedication to fostering a secure and progressive crypto ecosystem.

The initiative reflects Pakistan’s proactive stance on positioning itself as a global player in digital finance while ensuring investor protection and financial stability.

With collaboration between policymakers, regulatory authorities, and industry leaders, the council seeks to create a structured framework for crypto adoption.

Launched in Islamabad, the council will focus on regulatory clarity, stakeholder engagement, and fostering a compliant environment for businesses and investors.

The government-backed initiative is designed to support Pakistan’s economic growth by leveraging blockchain and cryptocurrency advancements.

Aurangzeb highlighted the council’s role in balancing innovation with regulation, ensuring a responsible approach to digital asset integration in the financial sector.

@ Newshounds News™
Source:  BitcoinNews

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Iraq Economic News and Points to Ponder Monday Afternoon 3-17-25

Three Iraqi Fintechs Listed In Forbes’ Top 50 Middle East Fintechs
 
March 16, 2025  Baghdad (IraqiNews.com) – Iraq’s financial technology sector has gained significant recognition, with three Iraqi fintech firms
 
—ZainCash, NEO Iraq, and NASS e-Payment— being listed among Forbes’ Top 50 Fintechs in the Middle East.

ZainCash (Ranked 11)  ZainCash, a mobile wallet service owned by March Holding, is a key player in Iraq’s digital payment landscape.
 
It offers services such as merchant payments, digital vouchers, government bill settlements, international and domestic transfers, and mobile top-ups.
 
With a vast network of 10,000 cash-in/out agents and over a million active users, the company processed more than 35 million transactions in 2024.
 
Looking ahead to 2025, Zain Cash aims to expand its portfolio by introducing trading, Buy Now Pay Later (BNPL) options, and instant micro lending services.
 
NEO Iraq (Ranked 39)   NEO Pay Iraq facilitates online shopping and digital transactions through websites, mobile applications, and point-of-sale terminals.
 
The company provides both virtual and physical prepaid cards linked to its mobile app.
 
By December 2024, NEO Iraq had established a network of over 650 agents, reached 212,000 active cardholders, and processed $509 million in transactions.
 
Additionally, its app had been downloaded 420,000 times by the end of the year.
 
NASS e-Payment (Ranked 41)   NASS e-Payment delivers payment solutions to individuals, businesses, and government institutions across Iraq.
 
The company began issuing payment cards in 2024 and became an official partner of Visa and Mastercard.  By the close of 2024, NASS e-Payment had 452,000 active users, processed $417 million in transactions, and recorded 602,633 app downloads.
 
Iraq’s Growing Fintech Presence
 
ZainCash and NEO Iraq had previously been included in Forbes’ rankings, reaffirming their sustained impact in the fintech sector.
 
The addition of NASS e-Payment this year further highlights the ongoing growth of Iraq’s digital financial ecosystem.
 
Forbes reported that the fintech firms on its list collectively handled over $240 billion in transactions and raised more than $3.8 billion in capital, showcasing the sector’s rapid expansion and influence in the Middle East.  
  
https://www.iraqinews.com/iraq/three-iraqi-fintechs-listed-in-forbes-top-50-middle-east-fintechs/    

Rafidain Bank: Record Growth In Electronic Collection Settlements For Government Departments' Accounts.
 
    Time: 2025/03/16 20:18:04 Read: 1,785 times  {Economic: Al Furat News} The Government Revenue Collection Department at Rafidain Bank announced today, Sunday, an
 
unprecedented growth in electronic collection settlements for government departments' accounts during 2024.
 
The department confirmed the increasing pace of collections via electronic payment companies, reflecting the significant development in adopting digital systems in government revenue management.
 
According to statistics issued by Rafidain Bank, a copy of which was received by {Euphrates News}, the  
total amounts collected during 2024 amounted to more than 6.06 trillion Iraqi dinars,  recording a continuous increase compared to the first months of the year.
 
September 2024 witnessed the highest growth rate, as total settlements reached 838.5 billion dinars, an increase of 11.12% compared to the previous month. Rafidain Bank added,
 
"At the beginning of 2025, the system continued its strong performance, with total collections in
 
January 2025 reaching approximately IQD 707.5 billion, followed by
February with IQD 689.2 billion.
 
Government departments also recorded a significant increase in the activation of the electronic collection system, with the number of activated entities rising to
 
     1,808 by February 2025, compared to
     1,395 in December 2024."

He emphasized that  "this significant growth reflects the success of the state's efforts to
 
     promote digital transformation,
     reduce reliance on cash, and
     achieve higher levels of transparency and financial efficiency. He also emphasized that
 
the electronic tax collection system represents a fundamental pillar in
 
     improving collection mechanisms and
     reducing the risk of financial corruption."

Rafidain Bank concluded, "This qualitative leap comes within the framework of the ongoing efforts led by Rafidain Bank,
in cooperation with government agencies, to
 
     support the digital economy,
     enhance confidence in electronic financial transactions, and
     raise the efficiency of the financial sector in Iraq."  
  
https://alforatnews.iq/news/مصرف-الرافدين-نمو-قياسي-في-تسويات-الجباية-الإلكترونية-لحسابات-دوائر-الدولة 

Experts: E-Commerce Supports The National Economy And Startups
 
Economic 03/13/2025  Baghdad: Hussein Thaghab  The Cabinet's announcement of the issuance of the "E-Commerce Regulatory System" was widely welcomed in economic circles.
 
This system aims to establish a clear legal framework regulating online buying and selling.
 
This decision is part of the
government's efforts to foster a safe and regulated digital environment that
 
     supports electronic payments and
     guarantees the rights of all stakeholders,
     contributing to expanding the scope of digital commerce and
     taking it to a more advanced level.
 
Finance and development expert Dr. Aqeel Jabr Al-Muhammadi confirmed to Al-Sabah that the
 
issuance of this system represents a qualitative step towards stimulating electronic payment and guaranteeing consumer rights.

He pointed out that it will encourage stores and digital platforms to register officially and adhere to consumer protection standards. He also explained that
 
this regulation contributes to providing a more flexible competitive environment for producers, marketers, and e-stores, which enhances From market dynamics. Al-Muhammadawi pointed out that 

adopting electronic payments as a fundamental part of this system will be subject to the supervision of the Central Bank of Iraq, ensuring the control and regulation of digital financial transactions.
 
This regulation also opens the way for linking the Iraqi e-market with Arab and global markets, enhancing opportunities for digital trade exchange.
 
Economists believe that the "e-commerce regulatory system"
 
     not only regulates markets and protects consumers, but also
     represents a real opportunity to support the national economy, particularly startups and entrepreneurs, by
     encouraging investment in modern financial technologies. According to Al-Muhammadawi,
 
this regulation lays a solid foundation for an integrated digital market in accordance with international standards, helping integrate new business operations into the national economy.
 
This system also
 
     enhances official recognition of online business activities, including e-marketing and digital business process management, in addition to
     providing advanced electronic means for displaying products and services.
 
Through the use of applications, commercial websites, and social media, buying and selling processes will be facilitated, while
 
e-governance and operations management will be improved according to the latest technical systems.
 
Earlier, the Association of Private Banks emphasized that regulating e-commerce is an urgent necessity to control digital markets and protect consumers, especially with the increasing incidence of fraud associated with online shopping.
 
In a related context, Al-Muhammadi stressed the
 
     importance of supporting e-commerce intermediaries, given
     their pivotal role in facilitating and connecting e-commerce and economic transactions.

He explained that these intermediaries contribute to enhancing e-payment tools and achieving integration between  e-stores and consumers, which helps complete the cycle.

Digital business operations.

The regulation of e-commerce is expected to have a
 
     positive impact on economic market growth indicators by enhancing the added value of the gross domestic product (GDP) and
     achieving broader integration between the various components of the digital economy, thus
     providing a favorable environment for the development of the e-commerce sector in Iraq.
 
For his part, Mustafa Akram Hantoush, a financial and economic expert, pointed out that
 
e-commerce in Iraq now
 
     provides thousands of jobs through online applications,
     enabling citizens to earn good profits that cover their daily expenses.
 
He praised the government's steps to regulate this trade through dedicated platforms that guarantee the rights of all parties, explaining that the
 
legal and financial regulation of this sector will contribute to its development and increase the volume of digital transactions.
 
In the same context, Ghazi Al-Kinani, advisor to the Global Smart Card Company, emphasized that
 
the government's decision to regulate the e-commerce market is extremely important, especially given the significant expansion witnessed in this sector in Iraq during the recent period. He explained to Al-Sabah that
 
e-commerce has become a vital, competitive sector that requires continuous development to keep pace with global changes. Al-Kanani pointed out that
 
the expansion of e-commerce operations in Iraq
 
     reflects the country's ability to keep pace with global developments in this field, in addition to
     providing job opportunities for a wide range of youth in various specializations, which
     contributes to improving the situation. Economic for Iraqi families.    
  
https://alsabaah.iq/111627-.html  

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

Seeds of Wisdom RV and Economic Updates Monday Afternoon 3-17-25

Good Afternoon Dinar Recaps,

CARDANO AND BITCOIN INTEGRATION: A NEW FRONTIER FOR BLOCKCHAIN SYNERGY

In a crypto landscape where Bitcoin frequently tops $100K and commands a $1.3 trillion market cap, Cardano (ADA) is carving a transformative path through its integration with Bitcoin.

Announced in October 2024, this integration, powered by the BitcoinOS (BOS) Grail Bridge, uses zero-knowledge cryptography to connect two of the most prominent blockchains.

This initiative aims to unlock Bitcoin’s vast liquidity for Cardano’s decentralized finance (DeFi) ecosystem, placing Cardano as a leader in cross-chain innovation. Both blockchains benefit from the strengths of each and this synergy makes it possible to do more in crypto.

How Both Blockchains Benefit

Cardano’s BTC integration creates a symbiotic relationship, enhancing the strengths of both Bitcoin and Cardano through technical ingenuity and strategic alignment.

Cardano’s Gains

Cardano taps into Bitcoin’s unparalleled liquidity—over $1.3 trillion as of early 2025—via the BOS Grail Bridge. This bridge uses the BitSNARK protocol, a zero-knowledge proof system, to enable trustless, secure transfers of BTC onto Cardano’s smart contract platform. In short, BitSNARK makes sure your Bitcoin transfers to Cardano remain private, secure, and reliable.

Unlike traditional bridges requiring off-chain custody, the Grail Bridge keeps Bitcoin on its native chain while allowing it to interact with Cardano’s extended UTXO (eUTxO) model. This model is Cardano’s way of handling transactions, where each transaction spends outputs from previous ones—like paying with exact cash and getting change—allowing safer, clearer, and more predictable blockchain interactions.

This opens doors to DeFi applications like lending and yield farming, powered by Cardano’s Ouroboros proof-of-stake consensus, which processes transactions with lower energy costs than Bitcoin’s proof-of-work.

Upcoming upgrades like Leios further boost scalability, preparing Cardano for a surge in BTC-driven activity.

ADA Spotlight: Sundial

Sundial, a Layer 2 solution bridging Cardano and Bitcoin, launched in late 2024 to unlock Bitcoin’s $1.3 trillion liquidity for Cardano’s DeFi ecosystem. Built on Cardano’s secure eUTxO model and Ouroboros consensus, Sundial processes transactions off-chain for increased speed, lower costs, and scalability.

“This partnership brings together Bitcoin’s security and Cardano’s flexibility, creating new opportunities for DeFi and real-world use. Our L2 will bridge these ecosystems, making transactions faster, more scalable, and more efficient.” stated Sundial founder Sheldon Hunt.

In partnership with Tesseract, Sundial protocol aims to handle thousands of transactions per second, integrating Bitcoin seamlessly and securely into Cardano’s rapidly growing ecosystem of 1,370+ projects.

By enabling Bitcoin-backed lending and trading, Sundial positions Cardano as a major DeFi hub for institutional users, potentially pushing ADA above $3 by late 2025 and reinforcing Cardano’s role as a leading interoperable blockchain.

Bitcoin’s Advantages on Cardano

For Bitcoin, this integration opens the prospect of smart contract functionality without altering its core protocol.

The BOS Grail Bridge enables BTC holders to engage in DeFi on Cardano—like decentralized exchanges or collateralized loans—while preserving Bitcoin’s security and simplicity. This doesn’t compromise Bitcoin’s foundational design but extends its utility beyond a store of value.

The BitSNARK protocol ensures privacy-preserving smart contracts, maintaining Bitcoin’s ethos of decentralization. With Cardano handling over 100 million transactions to date and hosting 1370+ Web3 projects, Bitcoin unlocks a partner chain to explore new use cases.

Top Benefits for Cardano Users Today

Cardano users are already reaping rewards from this integration, with practical enhancements boosting accessibility and utility.

▪️Enhanced DeFi Access

Bitcoin’s liquidity flowing into Cardano means users can now stake BTC in DeFi protocols, earn yields, or use it as collateral—all secured by zero-knowledge cryptography.

This expands Cardano’s 1300+ project ecosystem, which includes decentralized applications (dApps) built on its Plutus smart contract platform.

▪️Babel Fees Simplify Interaction

Cardano’s unique Babel Fees system lets users pay transaction fees in BTC instead of ADA, which is great for Bitcoin holders. This removes the need to acquire ADA upfront, lowering entry barriers and streamlining cross-chain participation.

Imagine a BTC holder joining a Cardano liquidity pool without swapping assets—Babel Fees make it seamless.

▪️Scalability in Action

With Leios on the horizon and Ouroboros already delivering high throughput, Cardano handles increased DeFi traffic efficiently. Users benefit from lower costs—often fractions of a cent per transaction—compared to Ethereum’s gas fees, making BTC-based DeFi on Cardano both practical and affordable. Sundial’s L2 bridging hints at even faster, cheaper transactions, though it’s still emerging.

▪️Community Governance

Cardano’s decentralized governance, rooted in its Voltaire phase, empowers users to shape the ecosystem. Bitcoin’s integration amplifies this, drawing in a broader community to vote on upgrades via on-chain mechanisms. This participatory model, paired with regulatory engagement in Washington D.C., builds trust among users and institutions alike.

In short, Cardano users gain a richer, more accessible DeFi landscape, fueled by Bitcoin’s scale and secured by cutting-edge tech.

Future Vision: Bitcoin and Cardano in Harmony

The ultimate goal of this integration transcends price speculation—it’s about making Bitcoin even more expansive in the multichain era of crypto. By merging Bitcoin’s liquidity with Cardano’s smart contract abilities, the duo makes for a better experience especially if you’re a Bitcoiner. You get to drive financial innovation on BTC on an unprecedented scale.

Picture a future where Bitcoin powers decentralized lending platforms on Cardano, or where BTC-backed stablecoins thrive across multichain ecosystems—all without centralized intermediaries.

Sundial and other L2’s integrated with BTC & ADA could accelerate this by enhancing scalability, potentially handling thousands of transactions per second. Cardano’s research-driven approach, with over 200 academic papers behind it, ensures this vision is grounded in rigor, not hype.

Bitcoin trusts Cardano to grow the network, and that is proof enough of Cardano’s firepower in the coming crypto cycles.

Analysts like Michaël van de Poppe see ADA hitting $3 short-term, with $10 possible by year-end 2025 if adoption surges. Yet there are still some challenges: Bitcoin’s conservative base needs convincing, and technical hurdles in cross-chain architecture persist.

But if realized, Cardano becomes Bitcoin’s smart contract layer, unlocking $1.3 trillion in value for DeFi while reinforcing Cardano’s role as a sustainable, scalable blockchain. This is about a symbiotic leap forward in crypto, blending Bitcoin’s dominance with Cardano’s innovation to reshape finance for millions.

@ Newshounds News™
Source:  Bitcoin News

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OW NORTH KOREA’S $1.14B BITCOIN STASH COULD THREATEN THE CRYPTO MARKET

▪️North Korea has amassed a significant Bitcoin reserve through cybercrime, posing a potential market risk due to possible large-scale sales.

▪️The U.S. has established a large, legitimate Bitcoin reserve, contrasting with North Korea's illicit accumulation.

▪️North Korea's use of Bitcoin raises concerns about market stability.

North Korea has quietly built one of the largest government-held Bitcoin reserves, surpassing even crypto-friendly nations like El Salvador and Bhutan. This has raised concerns in the crypto community, as a sudden sell-off from North Korea could shake the market, causing a liquidity crisis and a major price drop.

What happens if they decide to sell off their holdings? Could this trigger a massive market crash? And more importantly, is this part of a bigger geopolitical game?

Here’s a closer look at how North Korea built its Bitcoin empire – and why the world should be paying attention.

Are Heists Fueling North Korea’s Bitcoin Growth?

North Korea’s rise as a major Bitcoin holder follows a large-scale cyber heist by the Lazarus Group, a state-backed hacking syndicate. On February 21, 2025, the group stole over $1.4 billion in cryptocurrency from Bybit, a well-known exchange.

Much of the stolen funds, originally in Ethereum, were later converted into Bitcoin, increasing North Korea’s total holdings to 13,562 BTC—now valued at more than $1.14 billion.

The US Takes a Different Approach

While North Korea has acquired Bitcoin through cyberattacks, the United States has opted for a structured approach. On March 6, 2025, President Donald Trump signed an executive order creating the Strategic Bitcoin Reserve (SBR). With 198,109 BTC, worth around $16.71 billion, the US now holds the world’s largest government-owned Bitcoin supply.

How Other Countries Compare in Bitcoin Holdings

According to Arkham data, several governments now hold significant amounts of Bitcoin:

▪️The United Kingdom has 61,245 BTC ($5.17 billion), mostly seized from criminal activity.
▪️Bhutan holds 10,635 BTC ($897.6 million) through its state investment arm, Druk Holdings.
▪️El Salvador, the first country to adopt Bitcoin as legal tender, has 6,117 BTC ($516.11 million).

Is Kim Jong Un Making a Strategic Bitcoin Move?

The timing of North Korea’s Bitcoin buildup, just as the US launched its Strategic Bitcoin Reserve, has raised speculation. Some analysts believe Kim Jong Un is using stolen Bitcoin to create a shadow reserve, helping North Korea bypass financial restrictions and fund operations without relying on traditional banking systems.

Bitcoin’s decentralized nature makes it a valuable asset for North Korea, which has been cut off from the global financial system due to international sanctions. Unlike traditional reserves such as gold or foreign currency, Bitcoin allows the country to move wealth and conduct transactions without oversight from global financial authorities.

Crypto Community Is Not Taking It Well

While the US sees its Bitcoin reserve as a financial strategy, North Korea’s growing stash appears to be part of a broader geopolitical game. This marks a shift where digital assets are becoming tools of economic and political influence.

The crypto community is increasingly worried about North Korea’s Bitcoin strategy.

Bitcoin is no longer just a currency; it’s a weapon, a shield, and a statement of power.

@ Newshounds News™
Source:  Coinpedia

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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Thank you Dinar Recaps

“Tidbits From TNT” Monday 3-17-2025

TNT:

Tishwash:  Iraq: Top 5 Arab economy in 2024

Five Arab countries, including Iraq, accounted for 72% of the region’s GDP, which surpassed $3.6 trillion in 2024, according to a new report from the Arab Investment & Export Credit Guarantee Corporation ("Dhaman") released on Sunday.

The UAE, Saudi Arabia, Egypt, Iraq, and Algeria emerged as the leading contributors to the Arab economy, the report showed.

The forecast for 2025 suggests a 4.1% growth in the Arab economy, driven by strong performances in 14 countries, including nine oil producers, which together make up around 78% of the total GDP.

Despite economic challenges, the analysis highlights a boost in oil and gas export revenues, though crude oil production dropped by 4%, with uneven growth across the region.

Iraq continues to play a central role in the Arab economy, with its reliance on oil exports alongside government efforts to diversify income sources and increase investments in other sectors.

Per capita income in the Arab world reached $7,557 in 2024, with a modest increase expected to $7,602 in 2025. The population surpassed 467 million, growing by 2%.

Inflation in the region climbed to 12% last year, but is expected to ease to 8.5% in 2025. Unemployment rose to 9.7%.

Arab foreign trade saw a 3.6% increase, reaching $3.3 trillion, thanks to a 1% rise in exports and a 7% jump in imports.

Foreign exchange reserves across Arab countries grew by 3.7%, reaching $1.2 trillion, enough to cover imports for more than eight months.

The region's government debt decreased to 48.3% of GDP, with further reductions expected, dropping to 47.6% in the coming year.  link

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Tishwash:  To reduce speculation, a Sudanese advisor reveals a new monetary strategy.

The Prime Minister's economic advisor, Mazhar Mohammed Saleh, revealed a new monetary strategy Sunday evening that seeks to reduce speculation.

Saleh said in a statement to Al-Furat News that: "A new monetary strategy aims to gradually attract foreign exchange transactions to the officially regulated banking system."

He explained that "this strategy focuses on expanding the base of buying and selling foreign currency at fixed and stable rates, in line with the current monetary policy."

Saleh emphasized that "these steps coincide with enhancing the freedom of the foreign exchange process, with a high commitment to transparency and money governance in line with international standards."

He pointed out that "this strategy is being implemented in an organized and precise manner by the Iraqi banking system, and specifically targets large transfers, especially those related to financing wholesale trade."

Saleh also pointed out "the importance of stimulating electronic banking transactions to reduce cash circulation, which contributes to feeding the parallel market with cash dollars, thus reducing speculative operations that take place outside the framework of the law."  link

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Tishwash:  Rafidain: Electronic collection amounts jumped to more than 6 trillion dinars in 2024.

Rafidain Bank announced record growth in electronic tax settlements for government departments' accounts during 2024, with amounts exceeding 6 trillion dinars.

A statement issued by Rafidain Bank confirmed, "The pace of collections through electronic payment companies has increased, reflecting the significant development in the adoption of digital systems in government revenue management."

The statement explained that "total tax collections during 2024 amounted to more than 6.06 trillion Iraqi dinars, recording a continuous increase compared to the first months of the year."

According to the statement, September 2024 witnessed the highest growth rate, with total settlements reaching 838.5 billion dinars, an increase of 11.12% compared to the previous month.

At the beginning of 2025, the system continued its "strong performance, with total collections in January 2025 reaching approximately 707.5 billion dinars, followed by February with 689.2 billion dinars." 

Government departments also recorded a "significant increase in the activation of the electronic collection system, with the number of activated entities rising to 1,808 by February 2025, compared to 1,395 by December 2024."

Rafidain Bank affirmed that "this significant growth reflects the success of the state's efforts to promote digital transformation, reduce reliance on cash, and achieve higher levels of financial transparency and efficiency," noting that "the electronic collection system represents a fundamental pillar in improving collection mechanisms and reducing the risks of financial corruption."

He also noted that "this qualitative leap comes within the framework of the ongoing efforts led by Rafidain Bank, in cooperation with government agencies, to support the digital economy, enhance confidence in electronic financial transactions, and raise the efficiency of the financial sector in Iraq link

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Mot: .. May the Road Rise ~~~~~

Mot: .. Bet Ya Didn't Knows!!  Elves in ireland

Seeds of Wisdom RV and Economic Updates Monday Morning 3-17-25

KEY US ECONOMIC EVENTS THIS WEEK: HOW MARKETS AND CRYPTO MAY REACT

▪Key US economic indicators this week, including retail sales, housing starts, and jobless claims, will provide signals about the economy.

▪The Federal Reserve's interest rate decision, expected to remain unchanged, will be closely watched for future policy hints.

▪Multiple indexes released on Thursday, including Existing Home Sales and the Fed Manufacturing Index, are forecast to decline.

This week, several key economic events in the US could shape market trends and investor sentiment. From retail sales and housing data to jobless claims and the Federal Reserve’s interest rate decision, these reports will offer crucial insights into the state of the economy.

Why does this matter? Because shifts in economic indicators don’t just affect traditional markets – they impact crypto too! A strong economy could fuel investor confidence, while signs of slowdown might trigger uncertainty.

Prime US Economic Events This Week

US Retail Sales Index – Monday

The US Retail Sales Index, set for release on Monday, measures the total sales of retail goods and services over a month.

In January, it dropped from 0.7% to -0.9%. The consensus expects that it would rise from -0.9% to 0.7%. According to TEForecast, the index would climb to 0.5%.

An increase in retail sales usually signals a strong economy, boosting investor confidence and encouraging riskier investments like cryptocurrencies. However, if consumer spending is too strong, the Federal Reserve may take a stricter stance on interest rates, which could negatively impact the crypto market.

US Housing Starts Index – Tuesday

The Housing Starts Index, coming out on Tuesday, tracks the number of new residential construction projects that begin each month.

In January, the index fell from 1.515 million to 1.366 million. The consensus forecast predicts a slight increase to 1.375 million, while TEForecast expects a further decline to 1.34 million.

A rise in housing starts signals economic growth and can boost investor confidence. However, if construction activity increases too much, it may push interest rates higher, making borrowing more expensive and potentially slowing down crypto investments.

US Initial Jobless Claims – Thursday

The Initial Jobless Claims report, scheduled for Thursday, tracks the number of people filing for unemployment benefits for the first time.

In the second week of March, it slipped from 222K to 220K. The consensus estimates that it would grow sharply from 220K to 224K. As per TEForecasts, it would reach as high as 225K.

Higher jobless claims indicate economic weakness, which can lower investor confidence. However, a weakening labor market may also delay interest rate hikes, which could support crypto prices in the short term.

US Existing Home Sales – Thursday

The Existing Home Sales Index, also releasing on Thursday, measures the number of homes sold where the mortgage has been finalized.

In January, home sales fell from 4.29 million to 4.08 million. Analysts expect another drop to 3.92 million.

A drop in US existing home sales signals economic slowdown. It may also suggest lower consumer spending. This could affect crypto market sentiment adversely.

Philadelphia Fed Manufacturing Index – Thursday

The Philadelphia Fed Manufacturing Index, based on a survey of manufacturers in the Third Federal Reserve District, is set for release on Thursday.

In February, the index dropped from 44.3 points to 18.1 points. Analysts expect it to fall further to 12.1 points, while TEForecast predicts a decline to 11 points.

A shrinking manufacturing index indicates economic contraction and could lead to a more cautious market, affecting investment in both traditional and digital assets.

Federal Reserve Interest Rate Decision – Wednesday

The Federal Open Market Committee (FOMC) will meet on Tuesday, with its decision on interest rates expected on Wednesday.

Most experts believe the Federal Reserve will keep rates unchanged for now. Recently, Fed Chair Jerome Powell  suggested that the central bank is taking a cautious “wait-and-see” approach, as many economic factors remain uncertain.

@ Newshounds News™
Source:  Coinpedia

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SOUTH KOREA'S CENTRAL BANK RULES OUT BITCOIN RESERVE POSSIBILITY: REPORT

▪The Bank of Korea said it has not considered the option of creating a bitcoin reserve.

▪The central bank cited bitcoin’s volatility and IMF guidelines as the reasons for its decision not to review.

The Bank of Korea (BOK) stated Sunday that it has not considered the possibility of incorporating bitcoin into its foreign exchange reserve, in an answer to a written query from a member of the National Assembly's Strategy and Finance Committee.

The BOK cited bitcoin's high volatility as a primary reason for its negative stance on accruing the cryptocurrency, the Korea Economic Daily reported.

The central bank expressed concern that volatility in the cryptocurrency market could lead to a significant surge in transaction costs when cashing out bitcoin, according to the news report.

Bitcoin also does not comply with the International Monetary Fund's guidelines for foreign exchange reserve management, the BOK said. The IMF states in its guidelines that a foreign exchange reserve must control liquidity, market and credit risks "in a prudent manner."

On March 6, U.S. President Donald Trump signed an executive order to establish a Strategic Bitcoin Reserve, based on the BTC the government seized from criminal or civil proceeding

While Trump's move prompted several countries to positively consider creating their own bitcoin reserves, the South Korean central bank has cited skeptical views shared by Japan, Switzerland and the European Central Bank.

Beyond the issue of creating a bitcoin reserve, South Korea has recently been moving to loosen its strict regulations on crypto. The country's financial watchdog is currently rolling out its plan to gradually lift the ban on institutional crypto trading, and is preparing to establish its second crypto legal framework, focusing on managing stablecoins.

The Block reached out to the BOK for further comment.

@ Newshounds News™
Source:  The Block

~~~~~~~~~

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Iraq confronts economic crises with the "Digital Dinar." The parallel market is threatened with "Extinction."

TNT:

Tishwash:  Iraq confronts economic crises with the "digital dinar." The parallel market is threatened with "extinction."

The Central Bank of Iraq is preparing to launch the digital dinar, marking the transition to digital currency management.

The digital dinar is a digital currency issued by the central bank, officially part of a country's monetary system. It is similar in value to the traditional dinar, but is traded electronically via digital wallets or approved financial applications.

It facilitates instant money transfers within the country or across borders, reduces the logistical burden of issuing paper or metal currency, and enables broader segments of society to access digital financial services.

This project comes in light of the significant economic challenges facing Iraq, such as its heavy reliance on paper money and the phenomenon of hoarding. The digital dinar aims to address these challenges by providing a safe and effective digital alternative to paper money.

Central Bank Governor Ali Al-Alaq had previously stated during a speech he delivered at the Finance and Banking Conference and Exhibition that "the financial and banking system will witness fundamental transformations, including the decline of paper currencies and their replacement by digital payments for central banks."

He explained that "the Central Bank is moving to create its own digital currency, which will gradually replace paper transactions, as is the case with some central banks around the world."

Mazhar Saleh Mohammed, the Prime Minister's advisor for financial and banking affairs and former deputy governor of the Central Bank, highlighted the importance of the digital dinar and its relationship to the dollar exchange rate in local markets.

Speaking to Al-Eqtisad News, Mohammed emphasized that the digital dinar is a global trend in the development of payment systems, particularly in the description of monetary units that will acquire digital rights bearing the same legal acquittal force issued by the monetary authority as banknotes in acquitting debts, as they are units of account, exchange, and storage of value within the digital economic community and via a highly sophisticated, rapid, and accurate information system.

 He added that these monetary units will be used with high transparency to cover various real transactions of goods and services, as well as to settle small and large obligations. He noted that all exchange transactions will be transparently recorded between traders, up to the point of purchasing a loaf of bread, under the supervision of the monetary authority, thus ending the ambiguous or illegal uses of money once and for all.

Regarding the digital dinar's relationship to exchange rates, Al-Sudani's advisor explained that the official exchange rate will be the prevailing and sole rate, the digital exchange rate adopted by monetary policy.

The parallel market will disappear in its current form, as it is difficult to invent a secondary digital market whose operations operate outside the control of the digital monetary authority. However, usurious digital markets may emerge among the same traders.

He pointed out that the digital cash system provides the banking system with sufficient digital cash liquidity to grant loans without the risk of liquidity risk within banking markets. This encourages investors to borrow easily, increases economic growth levels, and promotes sustainable development. It also facilitates access to global digital exchanges for global payments and settlements.

"Introducing digital currency requires two things," according to the Prime Minister's advisor. He explained that the first is a high level of public awareness of the digital monetary system, while the second is the availability of an advanced information, communications, and data technology infrastructure that evolves continuously over time.

He pointed to the need for a legal infrastructure to protect digital currency transactions, particularly in protecting users' rights to their income and wealth, which cybersecurity provides against any dangerous digital breaches.

Many questions are being raised about the digital dinar and its differences from cryptocurrencies, which economic expert Ziad Al-Hashemi answers.

Al-Hashemi points to a "significant difference" between digital currencies and cryptocurrencies: "The former are issued and regulated by central banks, such as the digital dollar and the digital dirham, while cryptocurrencies such as Bitcoin are not subject to any official authority and their value depends on supply and demand, making them highly volatile."

He stated that if the Central Bank of Iraq issues the digital dinar, it will be the sole entity controlling the issuance and distribution of the digital currency, facilitating oversight and preventing financial crimes, unlike cryptocurrencies, which operate on a decentralized system that is difficult to control.

He pointed out that the digital dinar will be fully backed by the central bank and have a relatively stable value, similar to paper currency. However, it will be traded electronically only through bank accounts and wallets, contributing to reducing the use of paper money, achieving financial inclusion, and reducing reliance on the dollar in daily transactions.

Al-Hashemi noted that the primary goal of this step is to eliminate the phenomenon of cash hoarding, whereby citizens keep large sums of money outside banks due to lack of confidence in the banking system. This hinders the flow of funds and negatively impacts economic activity. If the project is implemented well, the digital dinar could help disburse hoarded liquidity and stimulate lending and credit.  link

MilitiaMan & Crew-Iraq Dinar News-Reassurances Oil flow-Salaries to be Paid-Digital Currency-IMF-AMF-Cash Liquid

MilitiaMan & Crew-Iraq Dinar News-Reassurances Oil flow-Salaries to be Paid-Digital Currency-IMF-AMF-Cash Liquid

3-16-2025

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=X9dTi6rJWhc

Iraq Economic News and Points to Ponder Sunday Afternoon 3-16-25

To Reduce Speculation, A Sudanese Advisor Reveals A New Monetary Strategy

Time: 2025/03/16 19:29:30 Reading: 720 times  {Economic: Al Furat News} The Prime Minister's economic advisor, Mazhar Mohammed Saleh, revealed a new monetary strategy Sunday evening that seeks to reduce speculation.

Saleh said in a statement to Al-Furat News that: "A new monetary strategy aims to gradually attract foreign exchange transactions to the officially regulated banking system."

He explained that "this strategy focuses on expanding the base of buying and selling foreign currency at fixed and stable rates, in line with the current monetary policy."

Saleh emphasized that "these steps coincide with enhancing the freedom of the foreign exchange process, with a high commitment to transparency and money governance in line with international standards."

He pointed out that "this strategy is being implemented in an organized and precise manner by the Iraqi banking system, and specifically targets large transfers, especially those related to financing wholesale trade."

Saleh also pointed out "the importance of stimulating electronic banking transactions to reduce cash circulation, which contributes to feeding the parallel market with cash dollars, thus reducing speculative operations that take place outside the framework of the law." LINK

https://alforatnews.iq/news/%D9%84%D8%AA%D9%82%D9%84%D9%8A%D8%B5-%D8%A7%D9%84%D9%85%D8%B6%D8%A7%D8%B1%D8%A8%D8%A7%D8%AA-%D9%85%D8%B3%D8%AA%D8%B4%D8%A7%D8%B1-%D9%84%D9%84%D8%B3%D9%88%D8%AF%D8%A7%D9%86%D9%8A-%D9%8A%D9%83%D8%B4%D9%81-%D8%B9%D9%86-%D8%A7%D8%B3%D8%AA%D8%B1%D8%A7%D8%AA%D9%8A%D8%AC%D9%8A%D8%A9-%D9%86%D9%82%D8%AF%D9%8A%D8%A9-%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9

Parliamentary Finance Committee Warns Of Sanctions Against Rafidain Bank: It Is Marred By Regulatory Concerns

Banks  Economy News – Baghdad  Deputy Chairman of the Finance Committee in the House of Representatives, Ikhlas al-Dulaimi, warned of the possibility of the US Treasury imposing sanctions on Rafidain Bank if it continues to implement procedures marred by regulatory concerns.

Al-Dulaimi said, in an interview monitored by Al-Eqtisad News, that "Rafidain Bank, like any private bank, is subject to the instructions and regulations of the US Treasury Department under an agreement with the Central Bank of Iraq and the international company charged with monitoring the work of banks in Iraq."

She added, "The international company pointed out the existence of violations in the work of Rafidain Bank, which prompted the bank to contract with a foreign company to improve its performance and address these concerns."

Al-Dulaimi pointed out that "the bank's continued operation according to its previous procedures could lead to US sanctions being imposed on it, along with other private banks, if the recorded violations are not corrected."

On January 30, 2025, US Republican Representative Joe Wilson renewed his attacks on Iraq, but this time by demanding sanctions on the government-owned Rafidain Bank. https://economy-news.net/content.php?id=53438

Al-Sudani's Advisor: Iraq's Foreign Reserves Reach $110 Billion

Money and Business  Economy News – Baghdad  The Prime Minister's financial advisor, Mazhar Mohammed Salih, confirmed on Sunday that Iraq's foreign exchange reserves are a safety net against economic fluctuations, noting that they are estimated at approximately $110 billion.

"Iraq's foreign exchange reserves are one of the most important indicators supporting investment, both domestic and foreign, as the country has a stable foreign exchange portfolio estimated at approximately $110 billion, distributed between gold, dollars, and foreign currencies," Saleh said in a statement to the official agency, followed by "Al-Eqtisad News."

He explained that "these reserves contribute to strengthening macroeconomic stability, both domestically and externally, making them a protective factor against global economic fluctuations and shocks. They also provide strong coverage for the monetary base and financial indicators related to trade and international debt maturing soon."

He added, "The current account of the balance of payments is recording positive rates that enhance the stability of the value of the Iraqi dinar, thus reducing the impact of fluctuations in global oil markets, given the nature of Iraq's rentier economy." He noted that "Iraq, as the fifth largest oil producer in the world, enjoys sustainable foreign financial flows, enabling it to quickly and efficiently support its cash reserves."

He stressed that "these strong reserves provide a stable investment environment, which contributes to accelerating the pace of investment and supporting the country's promising economic growth." https://economy-news.net/content.php?id=53450

The dollar fell by 148 against the Iraqi dinar.

Economy | 11:30 - 03/16/2025  Mawazine News – Baghdad  The dollar exchange rate declined on the Al-Kifah and Al-Harithiya stock exchanges, reaching 148,000 dinars for every $100.

The selling price at exchange shops in Baghdad's local markets was 149,000 dinars for every $100, while the buying price was 147,000 dinars  https://www.mawazin.net/Details.aspx?jimare=260205

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

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 3-16-25

Good Afternoon Dinar Recaps,

JPMORGAN CHASE, WELLS FARGO AND BANK OF AMERICA REFUSE TO REIMBURSE CUSTOMERS AFTER SCAMMERS ATTACK ACCOUNTS: REPORTS

New reports show JPMorgan Chase, Wells Fargo and Bank of America are closing the door on customers hit by fraud, rejecting their claims and refusing to reimburse their accounts.

JPMorgan Chase refused to refund a customer in Northern California after a scammer used a fake driver’s license to initiate unauthorized withdrawals, reports the ABC-affiliated news station KGO-TV.

Katrina, who preferred not to give her last name, says someone pretending to be her withdrew money from her Chase account without even having her bank card or PIN.

The con artist, who is still at large, made two withdrawals from Katrina’s account totaling $1,500.

Katrina filed a police report and the next month, she received a letter from Chase telling her that the bank has denied her claim, alleging that she both authorized and benefited from the withdrawals. After Katrina reached out to the local news for help, the bank reversed its decision.

Meanwhile, Wells Fargo has told a customer in South Carolina that she’s out of luck after falling victim to scammers pretending to work at the bank’s fraud department, reports the NBC affiliate WGAL.

Stephanie Zufall received a message asking her to verify a $1,300 Apple Pay transaction. She replied “no” and soon received a call from someone posing as a Wells Fargo representative.

The scammer tricked Zufall into depositing $3,000 into an ATM via her mobile wallet, then stole it by linking her account to his.

Wells Fargo denied her claim and in response to the news report, says it’s re-opened the investigation.

Lastly, Bank of America says it will not reimburse an aspiring entrepreneur’s account after she lost $20,000 to a scammer impersonating the bank.

The customer says she received a call from a spoofed number matching BofA’s support number on her debit card, reports the ABC-affiliated WLS-TV.

The scammer convinced her to transfer the money to supposedly protect it, only for her to later discover that she had been deceived.

Bank of America says it’s not liable and its real staff would never ask customers to send money over the phone.

The customer says the loss has forced her to abandon plans to start a new business.

“I’ve been working 10 to 13 hours plus with no break. I have to expedite that money that was stolen from me, and it wasn’t just stolen from me, but stolen from my kids, too.”

@ Newshounds News™
Source:  Daily Hodl

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BRICS MAKES MAJOR ANNOUNCEMENT ON DE-DOLLARIZATION

The major announcement from the BRICS alliance is that the bloc is divided on the global de-dollarization agenda. The nine-member alliance is seeing divisions as cracks open up from all sides on what the group stands for. While some countries want to launch a new common currency for trade and transactions, others don’t. The breaking up of ideas is causing a split within the group with each country wanting different agendas.

BRICS: India & Brazil Announce ‘No Interest’ in De-Dollarization

BRICS member India has made it clear that it has no interest in ending reliance on the US dollar and will not pursue the de-dollarization agenda. Foreign Minister S. Jaishankar said that India has “absolutely no interest” in undermining the US dollar. He said that the country “has never had a problem” with the greenback and has no plans to replace it.

In addition, four Brazilian government officials on the condition of anonymity said that Brazil plans to reject the BRICS currency. Brazil chairs the upcoming summit in July and plans to dismiss the formation of the new currency. President Luiz Lula da Silva is planning to nix the idea as he chairs the 17th summit, reported Reuters. Therefore, BRICS members India and Brazil are against de-dollarization in 2025.

Even BRICS members South Africa and the United Arab Emirates (UAE) remain on the sidelines of the de-dollarization initiative. Only Russia, China, and Iran are aggressively looking to replace the US dollar for cross-border transactions. Russia and Iran are reeling under sanctions that are making them desperate to find an alternative to the US dollar.

On the other hand, China is looking to use BRICS as a stepping stone to pursue its agenda of global domination. India does not want that to happen as it sees the Communist country as an opportunist. In conclusion, the idea of BRICS reshaping the de-dollarization initiative is a farce with no unity and more divisions.

@ Newshounds News™
Source:  Watcher Guru

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XRP HOLDERS THIS IS WHY RIPPLE WILL REPLACE SWIFT - BANKS WILL BEG FOR XRP  |  Youtube

XRP JUST FLIPPED ETHEREUM IN FDV - NOTHING IS KEEPING XRP FROM GOING PARABOLIC  |  Youtube

@ Newshounds News™
Source:  Common Sense Crypto

~~~~~~~~~

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Iraq Economic News and Points to Ponder Sunday AM 3-16-25

Why Was Iraq Not Included On Trump's New Sanctions List Despite Being Included In 2017?

In 2017, during President Donald Trump's first term, Iraq was included in the list of countries subject to the travel ban to the United States. However, Iraq was later exempted from this ban due to enhanced security cooperation and information sharing between the two countries, as well as Iraqi efforts in combating ISIS.

In 2025, the Trump administration is preparing a new list of 43 countries that could face travel bans or restrictions to the United States. According to draft recommendations, these countries are divided into three categories:

Red List: 11 countries whose citizens are completely barred from entering the United States, including: Afghanistan, Sudan, Syria, Yemen, Libya, Iran, Somalia, North Korea, Venezuela, Cuba, and Bhutan.

Orange List: 10 countries whose citizens will be subject to severe travel restrictions, but not a complete ban, including: Russia, Belarus, South Sudan, Sierra Leone, Eritrea, Haiti, Laos, Myanmar, Pakistan, and Turkmenistan.
Yellow List: 22 countries will be given 60 days to correct deficiencies in their security measures and information sharing, otherwise they may be transferred to one of the two previous lists.

It is noteworthy that Iraq has not been included on either of these new lists. This is due to the continued close cooperation between Iraq and the United States in the areas of security and information sharing. Iraq has also improved its security screening and passport issuance procedures, bringing it into compliance with required US standards.

This ongoing cooperation and Iraq's commitment to strengthening its internal security and sharing security information with the United States contributed to its removal from the new ban list. https://www.radionawa.com/all-detail.aspx?jimare=41382

A Dialogue Session Discusses The Central Bank's Measures For Banks Deprived Of Dollars

Saturday, March 15, 2025, 3:31 PM | EconomicNumber of readings: 166  Baghdad / NINA / The Iraqi Private Banks Association organized a dialogue session to discuss developments in the banking sector in Iraq, including those related to deprived banks and fines imposed by the Central Bank of Iraq. The session was attended by the Governor of the Central Bank and representatives of banks and electronic payment companies.

The Chairman of the Iraqi Private Banks Association, Wadih Al-Handhal, stressed the importance of joint cooperation between the Central Bank of Iraq, banks, and electronic payment companies to enhance financial stability and develop the banking system in accordance with the latest international standards.

He added, "The Special Committee for Assisting Deprived Banks, formed in the Ministerial Economic Council, called for the necessity of assisting deprived banks and suspending fines imposed on them, as they are going through difficult circumstances, which everyone knows." He indicated that "deprived banks work daily to implement global financial requirements and are subject to daily fines," calling for these fines to be suspended and reviewed by the Central Bank of Iraq.

For his part, the Governor of the Central Bank, Ali Al-Alaq, addressed the Central Bank's measures related to banks deprived of using the dollar, noting that there are signs of optimism in discussions with the American side on this issue.

Al-Alaq stressed that "the Central Bank of Iraq supports the establishment of digital banks, indicating that the number of applications has reached 75 banks, which contributes to accelerating the digital transformation of the banking sector in Iraq."

He pointed out that the first phase will be to grant only one or two licenses for the purpose of experimentation and studying the problems and challenges facing these digital banks.

He explained that "banks are required to work on raising the rate of financial inclusion by providing modern banking services targeting wider segments of society," stressing that "the transition towards a digital economy is an essential step to enhance financial stability and economic development." /End https://ninanews.com/Website/News/Details?key=1192022

Reassuring Citizens, The Central Bank Told NINA: We Have Ample Cash Liquidity

Saturday, March 15, 2025, 4:35 PM | EconomicNumber of reads: 335   Baghdad / NINA / The Central Bank of Iraq (CBI) reassured the banking and community circles of ensuring the availability of cash liquidity to cover all local transactions in Iraqi dinars.

The Governor of the Central Bank, Ali Al-Alaq, said in a statement to the National Iraqi News Agency ( NINA ), that "the Central Bank is the last entity that can be without cash liquidity in Iraq."

He explained that "the Central Bank has wide scope to provide local currency to the extent that this currency is covered by foreign reserves, which currently far exceeds the level of local sufficiency, and more than we can finance."

He added, "There is frequent confusion between the position of the Central Bank, which is a completely different situation from the financial situation related to the financial policy in the country or the Ministry of Finance," indicating that "the Ministry of Finance's revenues are based in dollars through Iraqi oil sales in the global market."

Al-Alaq stressed that "the Central Bank deals in Iraqi dinars for all amounts it receives in dollars, and this is very available under any circumstances," calling for distinction and separation between the financial situation at the level of the government and the Ministry of Finance, and the availability of cash at the Central Bank of Iraq. / End 5   https://ninanews.com/Website/News/Details?Key=1192029

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

Seeds of Wisdom RV and Economic Updates Sunday Morning 3-16-25

Good Morning Dinar Recaps

U.S. SENATE PASSES CONTROVERSIAL BILL TO AVOID GOVERNMENT SHUTDOWN

▪The Senate passed a Republican-led spending bill to avert a government shutdown, with key Democratic support.

▪Senate leader Schumer prioritized avoiding a shutdown, arguing it would grant Trump and "DOGE" excessive power.

▪The bill's passage revealed a divide within the Democratic party, with moderates and allies supporting Schumer's pragmatic approach.

The U.S. Senate narrowly avoided a government shutdown on Friday, passing a Republican-led spending bill just before the midnight deadline. The vote was 62-38, with 10 Democrats siding with nearly all Republicans. But while the bill kept the government running, it exposed deep divisions within the Democratic Party – especially when it comes to handling Donald Trump’s influence.

Behind the scenes, tensions ran high. Some Democrats wanted to take a stand against the GOP, while others feared the consequences of a shutdown. Senate Majority Leader Chuck Schumer was caught in the middle, making a strategic move that surprised many. So, why did he support the bill?

Schumer’s Quiet Strategy

Senate Majority Leader Chuck Schumer faced pressure from progressives and House Democrats to oppose the GOP-backed bill. However, he stayed quiet about his stance all week. On Thursday, he finally announced his support, giving other Democrats the green light to follow. This move helped reduce the risk of a shutdown during uncertain economic times.

Schumer admitted the bill wasn’t ideal but argued that shutting down the government would give Trump and his allies too much power.

The Democrats Who Voted With Republicans

Nine Senate Democrats joined Schumer in supporting the bill, temporarily giving up some leverage over Trump. These lawmakers included moderates, Schumer’s close allies, senators from states with many federal workers, and those nearing retirement. They agreed with Schumer that preventing a shutdown was the better option, fearing that Trump and Elon Musk could use the crisis to gain even more control.

Schumer warned that the future of government funding was now in the hands of Trump, Musk, and their allies. He cautioned that if a shutdown happened, it could last six to nine months and create serious instability.

Some Democrats criticized him for giving up too soon, saying he missed a rare chance to pressure Republicans after the House passed the GOP’s spending bill with Trump’s backing.

“I’ll Take Some Bullets,” Says Schumer

The vote largely followed party lines, 54-46, leaving many Democrats frustrated. They argued the bill failed to address key issues like healthcare and housing.

Schumer acknowledged the criticism but stood by his decision. “I’ll take some of the bullets,” he said, accepting that both moderates and progressives would be unhappy. The nine Democratic senators who voted with him may also face political consequences, but none are expected to have immediate election challenges.

House Democrats Frustrated Over Schumer’s Move

House Democrats, who had earlier rejected the bill, were upset with Schumer’s decision. Leaders like Hakeem Jeffries wanted a short-term funding bill to allow more time for negotiations. They argued the GOP bill gave Trump too much power while cutting critical services, including funding for Washington, D.C.

Senate Republicans, including John Thune, defended the bill, saying Democrats failed to complete last year’s budget, making another stopgap measure necessary.

Despite criticism from some Democrats, the White House stood by Schumer. The president praised him for making a “bold and courageous” choice, showing his approval of the compromise.

@ Newshounds News™

Source:  Coinpedia

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4 TYPES OF FINANCIAL DOCUMENTS YOU SHOULD KEEP TOGETHER AT ALL TIMES IN CASE OF EMERGENCY — HERE’S WHY

Life is full of the unexpected. You never know when you may find yourself in dire straits or faced with an emergency that’s totally out of your control. Sadly, Americans are affected by weather-related disasters now more than ever before.

According to the NOAA’s National Centers for Environmental Information (NCEI), 2024 alone was full of “billion-dollar” weather-related natural disasters: There were 27 individual weather and climate disasters with at least $1 billion in damages, which is only one less than the record of 28 events in 2023. Last year’s natural disasters took nearly 600 lives and cost approximately $182.7 billion in total.

With natural disasters on the rise, you’ll absolutely need to be prepared for whatever comes your way. This includes having a “financial go bag” at the ready.

A financial go bag is basically what it sounds like: It’s a bag with everything related to your finances, identity, emergency contacts and medical information that you need to keep on your person.

Here are four specific categories of items you’ll want to be sure you have in your financial go bag.

Financial and Legal Documents

Having copies of any applicable financial and legal documents printed and at the ready is critical, according to the Federal Emergency Management Agency (FEMA). For example, if your home is destroyed in a fire, maintaining copies of these documents in your go bag may be the only physical proof you have of account ownership.

These include but are not limited to the following types of documents:

▪Credit and debit card statements
▪Checking account statements
▪Savings account statements
▪Retirement and investment account statements
▪Utility bills
▪Student loan statements
▪Alimony and child support documents
▪Elder care information.

Identification

When faced with a catastrophe, you’ll need to have at least a few forms of identification in your bag, according to FEMA.

Two important reasons are you may need to be identified to receive emergency medical attention, or authorities may need to identify you if you’re attempting to cross a security checkpoint.

These include but are not limited to the following types of identification:

▪Passport
▪Driver’s license
▪Social Security card
▪Green card
▪Military service identification
▪Pet ownership papers and identification tags.

List of Emergency Contacts

FEMA also recommends keeping a list of emergency contacts in your bag in case of evacuation. For example, maybe your cell phone, which contains all your contacts, dies, and the only way to contact someone is by using someone else’s phone and referencing the list in your bag.

These include but are not limited to the following types of contacts:

▪Doctors and specialists
▪Dentists
▪Pediatricians
▪Veterinarians
▪Your children’s school
▪Your employer
▪Local emergency services.

Medical Information

If an emergency strikes, it could result in injuries to you or your family. In the worst-case scenario, you have to have all pertinent medical information ready in your bag, according to FEMA, to ensure you receive the care and benefits you’re entitled to get.

This includes but is not limited to the following medical information:

▪Health insurance cards
▪Medicare and/or Medicaid cards
▪Dental insurance cards
▪Any other health benefits, such as VA benefits
▪A detailed and up-to-date list of medications you take
▪Immunizations records
▪Allergy information
▪Medical equipment and devices you need
▪Pharmacy information
▪Living will, medical power of attorney and any disability documentation.

@ Newshounds News™

Source:  Yahoo Finance

~~~~~~~~~

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“Tidbits From TNT” Sunday Morning 3-16-2025

TNT:

Tishwash:  Kurdistan Regional Government: Baghdad holiday tomorrow does not include the region

The Kurdistan Regional Government announced today, Saturday, that tomorrow's Baghdad holiday does not include the region.

The regional government said in a statement, "Official holidays and occasions have been previously specified in its official schedule. The holidays and occasions remain as they are."

She added, "No changes will be made to it unless the Kurdistan Parliament, in accordance with its powers, decides to reconsider it and make a new decision regarding it."  link

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

Tishwash:  Reassuring citizens, the Central Bank told NINA: We have ample cash liquidity.

The Central Bank of Iraq (CBI) reassured the banking and community circles of ensuring the availability of cash liquidity to cover all local transactions in Iraqi dinars.

The Governor of the Central Bank, Ali Al-Alaq, said in a statement to the National Iraqi News Agency ( NINA ), that "the Central Bank is the last entity that can be without cash liquidity in Iraq."

He explained that "the Central Bank has wide scope to provide local currency to the extent that this currency is covered by foreign reserves, which currently far exceeds the level of local sufficiency, and more than we can finance."

He added, "There is frequent confusion between the position of the Central Bank, which is a completely different situation from the financial situation related to the financial policy in the country or the Ministry of Finance," indicating that "the Ministry of Finance's revenues are based in dollars through Iraqi oil sales in the global market."

Al-Alaq stressed that "the Central Bank deals in Iraqi dinars for all amounts it receives in dollars, and this is very available under any circumstances," calling for distinction and separation between the financial situation at the level of the government and the Ministry of Finance, and the availability of cash at the Central Bank of Iraq. /  link

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

Tishwash:  The government is preparing to approve the 2025 budget. Al-Sudani's advisor reveals the details.

The Iraqi government is likely to approve the draft budget before Eid al-Fitr, according to Mohammed Shia al-Sudani, the prime minister's financial and economic advisor.

Mazhar Mohammed Saleh said the Cabinet will likely approve the 2025 budget law before Eid al-Fitr and submit it to Parliament.

Saleh explained that spending constitutes approximately 67% to 70% of the total public expenditures in the budget law, which consist of salaries, allowances, retirement, and social care.

The Prime Minister's advisor noted that the budget is approximately 200 trillion dinars, with a deficit of approximately 64 trillion dinars.

Iraq has a three-year budget for 2023, 2024, and 2025, and is required to submit the budget schedule to Parliament annually.

Parliament approved the 2024 budget schedule on June 3, 2025.

Iraq's 2024 budget amounts to more than 211 trillion dinars, an increase of approximately 12 trillion dinars compared to 2023   link

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Tishwash:  New meetings with oil companies to resume exports via the Turkish port of Ceyhan.

Economic expert Hevidar Shaaban revealed, today, Sunday (March 16, 2025), that two meetings were held between the Federal Ministry of Oil and the Ministry of Natural Resources in the Regional Government, with representatives of oil companies operating in Kurdistan .

Shaaban told Baghdad Today, "The first meeting will be held in Baghdad this week, and another meeting will be held next week in Erbil between the same parties to resolve the issue of resuming oil exports through the Turkish port of Ceyhan."

He added, "The oil export problem is not related to the federal government or the regional government, but rather the oil companies are refusing to resume exports at this time until the regional government's debts are paid."

Among the most prominent issues facing the resumption of oil exports through the Turkish port of Ceyhan are the method of calculating oil quantities, the method of payment, and the share of international companies extracting oil from the Kurdistan Region, in addition to the issues of salaries, fees, and customs duties. Delegations between the two sides are attempting to resolve these issues before the start of export operations . 

Oil Minister Hayan Abdul Ghani surprisingly announced last February the resumption of exports from Kurdistan, a move that could end a nearly two-year conflict that has disrupted supplies of more than 300,000 barrels per day entering global markets via Turkey  link

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Mot: Not True - it Isn't!!!

Mot: .... When Ya!!!!

The US has to Borrow Just to Pay the Interest on its Debt

The US has to Borrow Just to Pay the Interest on its Debt

Gregory Mannarino:  3-14-2025

 Headlines screaming “ITS OVER” are certainly attention-grabbing, but the situation surrounding US debt is far more nuanced than a simple doomsday declaration.

The claim that the US needs to borrow just to pay the interest on its debt is a significant one, and while not entirely accurate yet, it highlights a worrying trend. Let’s break down the reality, the risks, and what it might mean for the future.

The statement hinges on the fact that the US national debt is substantial and growing. As of late 2023, it sits well above $30 trillion. With interest rates rising, the cost of servicing that debt has also increased dramatically. This year, the US is projected to spend hundreds of billions of dollars on interest payments alone.

The concern is that these interest payments are becoming so large that they contribute significantly to the overall deficit. This deficit, in turn, necessitates further borrowing, creating a potential “debt spiral” where borrowing is required simply to cover the interest on existing debt.

The US is not currently solely borrowing to pay interest. The deficit is driven by a complex interplay of factors, including government spending programs, tax policies, and economic conditions. However, the increasing burden of interest payments is undoubtedly exacerbating the situation.

However, these factors are becoming increasingly challenged. Economic growth is slowing, and political gridlock often hinders meaningful fiscal reforms. The consequence? The rising interest payments are indeed becoming a larger and larger portion of the deficit, inching closer to the terrifying scenario painted by the headline.

While the US isn’t solely borrowing to pay interest yet, the escalating burden of debt servicing is a serious concern. The path forward requires a commitment to fiscal responsibility, sustainable economic growth, and effective monetary policy.

 Ignoring the warning signs and failing to address the issue could lead to dire consequences for the US economy and its global standing. It’s not necessarily “over,” but the future depends on decisive action taken now. Ignoring the problem is not an option.

Watch the video below from Gregory Mannarino for further insights and information.

https://youtu.be/KTr67CSGiTI