Iraq Economic News and Points to Ponder Wednesday Afternoon 3-12-25

Central Bank Prudential Policies To Counter The Impact Of Changes In The Global Economy

Samir Al-Nusairi - For several years, the global system has been witnessing complex economic, financial and security crises, the accumulated causes of which have centered on rising energy and food prices due to the Russian-Ukrainian war, US and European sanctions on Russia, and the Zionist entity's aggression against Palestine, Lebanon and Syria.

The Zionist entity continues to employ a strategy of using war and its military machine, with the support of America and Europe, to draw the political, security and economic map of the new Middle East.

In addition to the impact of the US-China struggle for global economic control, the divisions in the visions and strategies of the G20, the G7, the BRICS group, and other international groups working to form new economic poles, and finally Trump's new policies of increasing taxes and tariffs on some competing industrial countries, which has led to confusion in the global economic and trade map.

The evidence is the current crises that have harmed the economies of major countries before smaller ones, and what we are currently witnessing of high stagflation in most countries of the world, most notably in the United States, the European Union countries, and countries of the geographical region, and the decline in the purchasing power of these countries' local currencies.

Therefore, we believe that our economy will suffer in the near term from the negative effects of the global economic system, from the lack of control over the supplies of food and basic commodities, and oil prices may fall below what was planned in the general budget for 2025, in light of the changing circumstances.

These effects will lead to negative repercussions on our economy and the methodology of financial and banking reform.

Given that economic stability is achieved through stability in the financial and monetary systems, the Central Bank's precautionary measures in 2023 and 2024, and its objectives outlined in its third strategy until 2026, in light of expected developments in future crises, require a fundamental reliance on building foreign reserves at a level that covers the local currency in circulation, imports, external debt repayments, and other international obligations.

It also seeks to diversify reserves to include a basket of currencies, gold, bonds, and securities. It also adopts policies and mechanisms to regulate foreign trade financing and comply with international standards.

This is exactly what the Central Bank did during this period, as its foreign exchange reserves reached more than $107 billion and 162.7 tons of gold. The World Gold Council announced that Iraq ranks fourth in the Arab world and twenty-eighth globally.

This confirms that the Central Bank is proceeding steadily to achieve the objectives of monetary policy in reducing inflation and controlling the general price level.

This is what it recently announced, that the annual inflation rate reached 2.8% and the basic rate 2.5%, as well as controlling the money supply and maintaining the exchange rate of the dinar within the balanced price in the trading market, despite the fluctuations from time to time in the exchange rate of the dollar in cash on the black market.

Continuous monitoring and analysis of the interest rate set by the Central Bank.

This requires fiscal policy, key economic sectors, and the ministries responsible for them to work together and in clear and specific coordination with the Central Bank's management to achieve economic stability, hedge against the global economic crisis, and mitigate its expected future repercussions over the next three years. https://economy-news.net/content.php?id=53314

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

Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 3-12-25

Good Afternoon Dinar Recaps,

IRAQ’S 2025 BUDGET WON’T REACH PARLIAMENT IN NEXT TWO MONTHS

Shafaq News/ Iraq’s government is unlikely to submit the 2025 budget tables to parliament within the next two months, a senior lawmaker said on Wednesday.

Ikhlas al-Dulaimi, deputy head of the Parliamentary Finance Committee, told Shafaq News that the Finance Ministry had yet to send the budget tables to the cabinet, despite a legal requirement to do so by October 2024 for approval before the new fiscal year.

"The total budget amounts to 216 trillion dinars (about $165B), while actual expenditures are estimated at around 160 trillion dinars (about $122,)" al-Dulaimi said, ruling out the possibility of sending the tables to parliament soon, which could push the approval process into Iraq’s election period.

In February, Iraq’s parliament passed the first amendment to the federal general budget law for the fiscal years 2023–2025, originally enacted as Law No. 13 of 2023.

@ Newshounds News™
Source:  Shafaq

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AMERICA MUST BACK PRO-STABLECOIN LAWS, REJECT CBDCS — US REP. EMMER

Emmer called CBDCs a “threat to American values” and reintroduced the Anti-Surveillance State Act to block a federal digital dollar.

US Representative Tom Emmer argued for prioritizing pro-stablecoin legislation in a March 11 House Financial Services Committee hearing, while calling central bank digital currencies (CBDC) a threat to American values.

On March 6, Emmer reintroduced the CBDC Anti-Surveillance State Act in the House of Representatives. Emmer renewed his call for Congress to pass the legislation at the March 11 hearing. The legislation aims to block future administrations from launching a US CBDC without explicit approval from Congress.

“CBDC technology is inherently un-American,” Emmer said at the hearing, warning that allowing unelected bureaucrats to issue a CBDC “could upend the American way of life.”

On Jan. 23, President Donald Trump signed an executive order prohibiting “the establishment, issuance, circulation, and use” of a CBDC in the US. Emmer said that the legislation he reintroduced could “prevent a future administration from creating such an obvious tool for financial surveillance against its own citizens” if signed into law, citing concerns about privacy and financial independence.

At the same hearing, Paxos CEO Charles Cascarilla urged lawmakers to create consistent stablecoin regulations across jurisdictions to avoid regulatory arbitrage. Paxos, a significant issuer of stablecoins, recommended clear guidelines and reciprocal rules with global regulators:

“We want to make sure we have the same set of rules in the US as we have around the world so that there isn’t some arbitrage that is possible to issue from another jurisdiction. And by having that same set of rules that everyone has to meet in order to access the US market, it will actually create a race to the top, not a race to the bottom.”

Emmer, a Minnesota Republican, also criticized inherent privacy risks associated with CBDCs, saying that stablecoins could bring traditional finance onchain at a global scale while reserving privacy:

“This underscores why we must prioritize pro-stablecoin legislation alongside anti-CBDC legislation.”

Against the backdrop of rapid pro-crypto developments, a report by the Center for Political Accountability (CPA) raised concerns about the growing political influence of crypto companies in the US and potential risks to regulatory stability.

Cryptocurrency firms shelled out a cumulative $134 million on the 2024 US elections in “unchecked political spending,” which presents some critical challenges, the March 7 report said.

@ Newshounds News™

Source:  CoinTelegraph

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"Wait for my post" Isaac 

Once Isaac has been funded he will post the word "VICTORY" 

“But understand I do not have contacts." Isaac

"I have buyers, the us treasury, DOD, Admiral , HSBC several big platforms that I have signed contracts with all and they paid already for the inspection several times" Isaac

Isaac's Room Link

Isaac Website Link 

Read more Living Room Link

@ Newshounds News™

~~~~~~~~~

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Recession by Design, Buckle up for Turbulence

Recession by Design, Buckle up for Turbulence

Liberty and Finance:  3-12-2025

In a recent appearance on Liberty and Finance, the anonymous financial commentator Doomberg delivered a stark warning about the current economic climate, predicting an impending recession and dissecting the potential strategies a future Trump Administration might employ to navigate the turbulent waters.

Doomberg painted a picture of an overvalued stock market on the precipice of a correction, fueled by unpredictable global supply chains and escalating geopolitical tensions.

Doomberg’s core argument centers on the inevitability of a recession. He believes the current market valuations are unsustainable, a bubble waiting to burst.

This reckoning, he suggests, will be exacerbated by the fragility of global supply chains, easily disrupted by unforeseen events, and a stock market ill-prepared for a significant downturn.

Beyond the purely economic factors, Doomberg highlighted the geopolitical complexities stemming from the ongoing conflict in Ukraine. He speculated that a Trump Administration might leverage these tensions to benefit the U.S. financially. While the exact nature of this leverage remained undefined, the implication is that Trump would exploit the situation to strengthen the U.S. position on the world stage.

Doomberg further explored how Trump’s potential policies, particularly his emphasis on fiscal conservatism, could impact the market.

He envisions a scenario where Trump’s austerity measures trigger a significant market correction. This correction, while painful in the short term, would ultimately pave the way for a more sustainable and robust recovery.

The conversation culminated in a bullish outlook, albeit one contingent on navigating the coming recession successfully. Doomberg anticipates that Trump’s handling of the crisis could result in a post-crisis economic boom, echoing the recovery seen after the 2008 financial crisis.

This optimistic prediction hinges on the idea that a necessary correction, followed by strategic economic maneuvering, could ultimately set the stage for future growth and prosperity.

Doomberg’s analysis serves as a timely reminder that the financial landscape is constantly evolving and that a nuanced understanding of both economic fundamentals and geopolitical forces is essential for navigating the challenges and opportunities ahead.

While predictions should always be viewed with a degree of skepticism, the insights shared by Doomberg offer valuable food for thought in these uncertain times.

https://youtu.be/F6p826PuU7Y

Iraq Economic News and Points to Ponder Wednesday AM 3-12-25

Ramadan Revives The Iraqi Dinar And Official Expectations Are A Continuous Decrease In The Dollar
 
Economy ​ |Baghdad today- Baghdad
 
The exchange rate of the US dollar in the parallel market in Iraq decreased significantly during the first and second weeks of Ramadan, registering 1480 dinars per dollar of the first lower, from the level of 1520 dinars before the beginning of the month.

The decrease is due to several factors, most notably the
 
     strict measures taken by the Central Bank of Iraq to control the imports and electronic financial transfers, in addition to the
     decrease in the economic activities of the Iraqi citizen during the month of Ramadan.
 
"Strict procedures"
 
Government adviser Alaa Al-Fahd says that the
 
decrease in the price of the dollar in the parallel market is due to the Central Bank’s application of strict procedures aimed at controlling the imports and electronic financial transfers. He adds, that
 
this measure reflects the success of the monetary policy of the central bank, as
 
Iraqi banks began carrying out correspondence with international banks with commercial relations. He added that the
 
diversification of the currency basket contributed greatly to reducing pressure on the dollar, and that
 
most imports of consumer and food commodities are funded through the official platform of the central bank at the official price, stressing that
 
any trading outside this framework is an informal treatment.
 
Al-Fahd praised the
 
     Central Bank's announcement of the application of digital transactions and the
     encouragement of tourism, stressing that
 
these steps contributed to reducing pressure on the parallel market for exchange rates.
 
Al-Fahd expected the continuation of stability in the market, especially with the
 
coverage of most of the needs of Ramadan and the Eid season through the official platform and at the official price, indicating that the
 
expectations indicate that the price of the dollar will continue to decrease in the coming period.

The dollar exchange rate against the dinar in the last week increased significantly before Ramadan, registering 1520 dinars per dollar for sale and 1510 dinars to buy in the main stock exchanges, but in the first week of Ramadan, the exchange rate recorded a significant decrease, as it reached 1465 dinars per dollar for sale and 1475 dinars per dollar for buying in the main stock exchanges in Baghdad, Erbil and Basra.
 
In the second week of Ramadan, the exchange rate increased slightly, and he recorded 1485 dinars per dollar for sale and 1480 dinars per dollar for purchase, with a variation of up or down, not exceeding two and a half dollars.

The Iraqi dinar exchange rates against the dollar are affected by several major factors, including:
 
     Daily sales volume at a currency sale auction
 
     -Central bank procedures related to external transfers
 
     -Traders need to import goods, especially from countries that are subject to US sanctions,
       which increases the demand for the dollar in the parallel market. The
 

     Iraqi dinar smuggling to other countries to benefit from the price differences.
 
"Ramadan changes the rules of the game"
 
For his part, economic expert Ahmed Al-Ansari believes that the
 
decline in demand for the dollar during the month of Ramadan
is mainly due to the low economic activities of the Iraqi citizen, which is
evident in the decline in the movement of real estate, cars and basic services. Al-Ansari explained that the
 
weak purchasing power of citizens also contributed to reducing the volume of import,
which led to a reduction in demand for the dollar in the parallel market. He added that the
 
central bank’s procedures aimed at
 
     reducing import through the black market and
     encouraging merchants and importers to import through approved banks and
     transfer the dollar at the official price,
 
was an additional reason for this temporary decline.

Al-Ansari expected a strong recovery for the markets after the month of Ramadan and by Eid Al -Fitr,
which may lead to a slight increase in the price of the dollar or its return to its previous level, stressing that the
 
price of the dollar is greatly affected by the strength of supply and demand in the market, as
 
it increases as the demand for it increases in the parallel market.
 
He pointed out that the
 
continued facilities provided by the central bank, such as
providing the dollar of travelers, will
 
     encourage citizens to deal at the official price and
     avoid exchange offices and banks that sell the dollar at higher prices.
 
On February 7, 2023, the Council of Ministers approved the decision of the Central Bank of Iraq’s board of directors to amend the dollar exchange rate against the dinar, equivalent to 1300 dinars per dollar, as it obligated banks to sell at a price of 1310 dinars per dollar and at a price of 1320 dinars per dollar for currency transfer operations if the electronic cards are used while traveling or via the Internet, with the ceiling of 3 thousand dollars at the official price granted to each traveler providing a visa and travel ticket with his official passport.
 
Source: Al-Jazeera Net  
  
https://baghdadtoday.news/269711-رمضان-ينعش-الدينار-العراقي-وتوقعات-رسمية-بانخفاض-مستمر-للدولار.html 

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

Seeds of Wisdom RV and Economic Updates Wednesday Morning 3-12-25

Good Morning Dinar Recaps,

U.S. HOUSE OVERTURNS IRS DEFI RULE: TRUMP’S FIRST CRYPTO LAW AHEAD?

U.S. lawmakers voted to cancel an IRS rule that required crypto companies, including DeFi platforms, to collect and report taxpayer and transaction information. 

The House passed the vote 292-132, following the Senate’s decision to reject the rule that was finalized during the final days of former President Biden’s administration. This could change how crypto businesses are regulated.

Fox Business Journalist Eleanor Terrett noted that due to a rule that budget-related bills must start in the House, the Senate will need to vote on the resolution one more time. Once that vote passes, it will go to President Trump’s desk as the first crypto-related bill to become law.

Missouri Republican Jason Smith urged lawmakers to support the resolution, saying the IRS rule could hurt U.S. businesses and stifle innovation. He added that the rule might be impossible to enforce, as DeFi platforms are different from centralized crypto exchanges or banks and cannot gather the required user information to comply with the rule.

Last week, 70 Senators voted to overturn the IRS rule, with Trump’s advisers urging him to sign it. Rep. Jason Smith (R-Mo.) noted the Senate must approve it again due to budget rules. If signed, the IRS would be blocked from enforcing similar rules in the future.

Illinois Democrat Danny Davis argued the rule was part of the 2021 Infrastructure Act, comparing crypto to stocks and saying crypto platforms should report like stock brokers. Meanwhile, North Carolina Republican Tim Moore claimed the rule overstepped and could harm U.S. innovation in digital assets.

Texas Democrat Lloyd Doggett called the resolution “special interest legislation,” saying that it could help tax cheats, criminals, and terrorist financiers, and add $4 billion to the national debt, going against President Trump’s goal to cut the debt.

@ Newshounds News™
Source:  Cooinpedia

~~~~~~~~~

COINBASE GETS GREEN LIGHT TO OPERATE IN INDIA AFTER RECEIVING APPROVAL FROM REGULATORS

Top US-based crypto exchange Coinbase has received approval from India’s Financial Intelligence Unit (FIU) to resume operations in the country after ceasing activities in early 2023 due to regulatory issues.

According to a Coinbase press release, the approval enables the leading US exchange to offer crypto trading services in one of the world’s fastest-growing digital asset markets – India.

Coinbase has announced plans to introduce retail trading services in the country later this year, followed by additional investment products curated for Indian customers.

Says John O’Loghlen, Coinbase’s Regional Managing Director for Asia-Pacific,

“India’s developer community and entrepreneurial energy are unmatched. But too often, young Indian entrepreneurs have felt forced to look abroad to build global companies. Crypto can change that. By expanding access to our trusted platform and tools such as Base, we aim to empower a new generation of builders to stay home, innovate locally, and scale globally.”

The exchange says that India is a “global technology powerhouse home to one of the most vibrant startup ecosystems,” making it a natural fit for Coinbase’s international expansion.

Coinbase joins other global exchanges, including Binance and KuCoin, that have recently received similar approvals.

@ Newshounds News™
Source:  DailyHodl

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“Tidbits From TNT” Wednesday Morning 3-12-2025

TNT:

Tishwash:  Iraq, World Bank discuss enhancing financial cooperation

Finance Minister Taif Sami stressed the importance of the ongoing partnership with the World Bank, and Iraq's aspiration to benefit from the technical and financial support provided by the bank in implementing strategic projects to stimulate economic growth and provide job opportunities, especially in areas including infrastructure and human development.

This came during her reception of the World Bank Representative to Iraq, Jean-Christophe Carret, and his accompanying delegation.

The meeting discussed ways to enhance economic and financial cooperation between Iraq and the World Bank. It reviewed a number of key topics related to enhancing financial stability in Iraq, in addition to discussing development projects that the two parties seek to implement with the aim of achieving sustainable development.

For his part, the World Bank representative expressed the bank's commitment to continue supporting Iraq in achieving its development goals, noting that the World Bank pays great attention to enhancing Iraq's ability to face economic and development challenges, with a focus on sustainable development and achieving comprehensiveness in the benefits achieved. link

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Tishwash:  I don't think there is any new information in this article but they have posted it again

Iraq is preparing to launch the digital dinar... a step towards a cashless economy!

 The Central Bank of Iraq is preparing to launch a national digital currency as part of a gradual shift toward a digital financial system aimed at reducing the use of paper money and enhancing transparency and financial inclusion.

The initiative relies on modern payment technologies and seeks to reduce transaction costs and combat money laundering.

Despite the ambition, experts question the project's success due to challenges related to weak trust in the banking system and the lack of adequate digital infrastructure. The Central Bank, meanwhile, reiterates its rejection of cryptocurrencies, deeming them illegal, and warns against the activity of fictitious trading companies in the local market. The Governor of the Central Bank of Iraq, Ali Al-Alaq, revealed that the country's financial and banking system is undergoing fundamental transformations, most notably the gradual decline in the use of paper currency in favor of digital payments.

During his speech at the Ninth Finance and Banking Conference and Exhibition, Al-Alaq confirmed that the Central Bank is working to create its own digital currency, which will be gradually introduced as an alternative to paper currency, following the experiences of several global central banks.

The Central Bank of Iraq announced on December 16 that it would not grant any licenses to stock, metals, and cryptocurrency trading companies, warning against the activity of fictitious companies claiming to have official licenses.

Despite the growing global spread of cryptocurrencies, Iraq doesn't appear close to entering this high-risk digital world. According to experts, these digital assets do not represent a real addition to the Iraqi economy, which is primarily based on oil exports and dollar transactions in global markets.

Financial affairs expert Mustafa Hantoush told Al-Mada that "Iraq does not have a legislative or economic environment capable of accommodating these currencies. Rather, they could become a tool for speculation and money laundering in the absence of oversight and regulation."

He pointed out that "dealing in them is limited and informal, via external platforms and offices in neighboring countries, exposing investors to the risk of loss and fraud."

Furthermore, according to Hantoush, cryptocurrencies are not based on real reserves or bank guarantees, making them highly volatile and unreliable in fragile markets such as Iraq's. According to economic researcher Ziyad al-Hashemi, the initiative to launch the "digital dinar" is an attempt to eliminate the chronic problems plaguing the monetary system, but its success remains in doubt.

In an interview with Al-Mada, Al-Hashemi explained, "There is a fundamental difference between digital currency and cryptocurrencies. Digital currencies, such as the digital dollar or the digital dirham, are issued and regulated by central banks and are managed within an official regulatory framework. Meanwhile, cryptocurrencies, such as Bitcoin, operate within a decentralized system that is not subject to any regulatory authority and are highly volatile in value due to their dependence on supply and demand."

Bitcoin was the first cryptocurrency, emerging in 2009 as a response to the global financial crisis. It was designed to operate outside the regulatory framework of central banks, making it an attractive tool for some, particularly in digital circles and criminal networks, due to the privacy and speed of money transfers it provides, free from government restrictions. Transactions in Bitcoin are a legal violation, subjecting perpetrators to the provisions of Anti-Money Laundering and Terrorism Financing Law No. 39 of 2015.

The bank issued an official statement during the recent dollar crisis, emphasizing that trading in cryptocurrencies is prohibited and not recognized in the country. Regarding the anticipated digital dinar, he points out that "the Central Bank of Iraq will be responsible for issuing and circulating it, allowing it to control and monitor financial transactions and contributing to the reduction of financial crimes and money laundering. Unlike cryptocurrencies, this currency will be fully backed by the Central Bank, giving it a degree of stability and making it similar to paper currency in terms of sovereign value, with the difference that its circulation will be electronically only through bank accounts and digital wallets."

Al-Hashemi believes that "the main goal of this step is to reduce reliance on paper dinars hoarded outside the banking system and advance financial inclusion, as well as to attempt to limit the widespread use of the dollar in local transactions by enhancing confidence in using the digital dinar as an official alternative in daily transactions."

He adds that "the success of this project depends on providing an appropriate environment and strict implementation. If this is achieved, the digital dinar could effectively contribute to withdrawing stagnant cash, revitalizing banking activity, and stimulating credit, which could positively impact overall economic performance."

However, Al-Hashemi does not hide his pessimism, emphasizing that The Central Bank of Iraq currently lacks the basic components needed to ensure the success of this initiative, due to the significant flaws in its monetary policies, the lack of public confidence in the banking system, and the recurring political interference in its decisions. He believes that all of these obstacles could make the digital dinar a fragile project, suffering from the same problems as the paper dinar.

He concludes by saying, "Ambition alone is not enough. Without genuine reform of monetary policies, strengthening public confidence in banks, and distancing politics from the economy, the chances of success of the digital dinar remain extremely limited."

 Furthermore, Mazhar Mohammed Saleh, economic advisor to the Prime Minister, believes that "central banks around the world, including the Central Bank of Iraq, are still in the gradual preparation phase for the transition to the world of digital payments as a modern alternative to paper currencies." This shift, he explains, does not change the essence of money and its basic functions.

Rather, it seeks only to improve the efficiency of dealing with it and reduce associated costs, in addition to strengthening financial oversight tools and reducing financial crime and money laundering.

Saleh confirms to Al-Mada that "this digital transformation in the monetary system does not mean that money will lose its function as a store of value, a means of payment and receipt, or a tool for unit of account and measurement of rights. Rather, these functions will be fully preserved, but within a more transparent, governed, and compliant environment, enhancing the monetary authority's ability to manage monetary stability using the same monetary policy tools."

Saleh explains that "digital money can expand the scope of banking services to include the poorest and most vulnerable segments of society by facilitating the opening of digital bank accounts. Digital money will be available to all citizens, from the smallest monetary unit to the largest, allowing for instant settlement of transactions without delay or wasted rights or time."

He points out that "providing digital liquidity widely within the banking system, with minimal liquidity risk, will enable low-income groups to obtain immediate and affordable digital loans at a lower cost, given that the funds will remain within the banking system and will not require large reserves or financial hedges.

This will optimally leverage the digital credit multiplier, enhancing financing and stimulating economic activity without compromising economic stability or causing monetary inflation, as long as monetary policy tools remain effective."

The economic advisor emphasizes that "implementing this project requires precise and extensive investments in information technology, such as smartphones and social networks, along with the necessity of an advanced digital infrastructure, most notably a reliable internet network, as it is the backbone of the success of digital payments.

 He also emphasizes the importance of a solid legal structure that protects the rights of users and customers and ensures the security of networks from breaches, within a comprehensive cybersecurity framework that aligns with the rapid development of digital services worldwide." linkI

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Tishwash:  Ramadan revives the Iraqi dinar and official expectations of a continued decline in the dollar

The exchange rate of the US dollar in the parallel market in Iraq declined significantly during the first and second weeks of Ramadan, recording 1,480 dinars per dollar, or less than that, from 1,520 dinars before the beginning of the month.

The decline is due to several factors, most notably the strict measures taken by the Central Bank of Iraq to control imports and electronic money transfers, in addition to the decline in economic activities of the Iraqi citizen during the month of Ramadan.

"strict measures"

Government advisor Alaa Al-Fahd says the decline in the dollar price in the parallel market is due to the Central Bank’s implementation of strict measures aimed at controlling imports and electronic money transfers.

He added that this measure reflects the success of the Central Bank's monetary policy, as Iraqi banks have begun to implement correspondence operations with international banks with which they have commercial relations.

He added that diversifying the currency basket contributed significantly to easing pressure on the dollar, and that most imports of consumer and food goods are financed through the official platform of the Central Bank and at the official price, stressing that any trading outside this framework is considered unofficial dealing.

Al-Fahd praised the Central Bank’s announcement of implementing digital transactions and encouraging tourism, stressing that these steps contributed to easing pressure on the parallel market for exchange rates.

Al-Fahd expected the market to remain stable, especially with most of the needs of Ramadan and the Eid season being covered through the official platform and at the official price, noting that expectations indicate a continued decline in the dollar price in the coming period.

The exchange rate of the dollar against the dinar increased significantly in the last week before Ramadan, recording 1,520 dinars per dollar for sale and 1,510 dinars for purchase in the main stock exchanges, but in the first week of Ramadan, the exchange rate recorded a significant decrease, reaching 1,465 dinars per dollar for sale and 1,475 dinars per dollar for purchase in the main stock exchanges in Baghdad, Erbil and Basra.

In the second week of Ramadan, the exchange rate rose slightly, recording 1,485 dinars per dollar for sale and 1,480 dinars per dollar for purchase, with a variation up or down not exceeding two and a half dollars.

The exchange rate of the Iraqi dinar against the dollar is affected by several main factors, including:

-Daily sales volume in currency auction

-Central Bank procedures related to external transfers

-The need of traders to import goods, especially from countries subject to US sanctions, which increases the demand for the dollar in the parallel market.

-Smuggling the Iraqi dinar to other countries to benefit from price differences.

"Ramadan is a game changer"

For his part, economic expert Ahmed Al-Ansari believes that the decline in demand for the dollar during the month of Ramadan is mainly due to the decline in economic activities of the Iraqi citizen, which is evident in the decline in the movement of real estate, cars and basic services.

Al-Ansari explained that the weak purchasing power of citizens also contributed to reducing the volume of imports, which led to a reduction in demand for the dollar in the parallel market.

He added that the Central Bank's measures aimed at reducing imports through the black market and encouraging traders and importers to import through approved banks and convert the dollar at the official price were an additional reason for this temporary decline.

Al-Ansari expected a strong recovery in the markets after Ramadan and by Eid al-Fitr, which could lead to a slight increase in the dollar price or a return to its previous level, stressing that the dollar price is greatly affected by the strength of supply and demand in the market, as it rises whenever demand for it increases in the parallel market.

He pointed out that the continuation of the facilities provided by the Central Bank, such as providing travelers' dollars, will encourage citizens to deal at the official price and avoid exchange offices and banks that sell dollars at higher prices.

On February 7, 2023, the Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to amend the exchange rate of the dollar against the dinar, equivalent to 1,300 dinars per dollar, obligating banks to sell at a rate of 1,310 dinars per dollar and at a rate of 1,320 dinars per dollar for currency transfer operations when using electronic cards while traveling or online, with a ceiling of 3,000 dollars at the official rate granted to each traveler who presents a visa and a travel ticket with his official passport.  link

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Mot:  oooooh! - oooooh! - oooooh! - ((( U've bend Warneded )) 

Mot: Don't ferget - Y"all!!!! 

Seeds of Wisdom RV and Economic Updates Tuesday Evening 3-11-25

Good Evening Dinar Recaps,

MOMENTUM BUILDS IN WASHINGTON TO PASS STABLECOIN LEGISLATION, MARKING A 'MOMENT FOR US HERE IN CONGRESS NOW TO ACT'

▪“There is a moment for us here in Congress now to act,” said Rep. Bill Huizenga, R-Mich., during a House committee hearing on Tuesday.

▪A stablecoin bill is set to be marked up in the Senate Banking Committee on Thursday.

Movement on legislation to regulate stablecoins is underway this week as lawmakers in the House debated necessary provisions in the bill on Tuesday. The Senate committee will also assemble in the coming days to take a vote on proposed stablecoin rules.

This is the moment for Congress to act, said Rep. Bill Huizenga, R-Mich., on Tuesday during a House Financial Services Committee hearing focused on stablecoins and central bank digital currencies. Huizenga cited the Trump administration's actions over the past few weeks, including a White House crypto summit last week.

"There is a moment for us here in Congress now to act, and as legislators, it's ultimately up to us to provide the regulatory clarity needed to ensure that the U.S. dollar remains the dominant reserve currency, and I believe stablecoins can do that," Huizenga said.

Lawmakers have legislation teed up in both the Senate and House to tackle stablecoin regulation. A handful of bipartisan legislators have been working to pass a stablecoin bill for years.

However, like all previous congressional acts to advance crypto regulation, these various attempts had stalled out. Fifty days into Donald Trump's presidency, however, Congress is seemingly making crypto a priority — including by investigating claims of industry-wide debanking and repealing the controversial "DeFi Broker rule."

In February, House Financial Services Committee Republican Chair French Hill, R-Ark., alongside Rep. Bryan Steil, R-Wis., released draft legislation to regulate stablecoins. That draft, called the STABLE Act, builds on work done over the years in the committee beginning in 2022.

A sticking point for a previous draft was a provision that would have allowed state regulators to approve stablecoin issuances without Federal Reserve input.

The new bill differs slightly from the previous stablecoin bill. For example, it gives the Office of the Comptroller of the Currency the authority to "approve and supervise federally qualified nonbank payment stablecoin issuers " instead of including a federal path through the Federal Reserve for "payment stablecoin issuers."

Work is also underway in the Senate. Sen. Bill Hagerty, R-Tenn., introduced a bill to regulate stablecoins called the "Guiding and Establishing National Innovation for US Stablecoins," dubbed the GENIUS Act. Though it is not a companion to the House's version, lawmakers say it shows an effort among Republicans to work on key issues.

That bill is set to be marked up in the Senate Banking Committee on Thursday.

Ron Hammond, senior director of government relations at the Blockchain Association, called all the action "Stablecoin Spring" and said Congress is set on getting a stablecoin bill across the finish line.

"The House hearing today showed most of the Democrats and all the Republicans largely supporting the measures in the STABLE Act," Hammond said in a statement to The Block.

"That same bipartisan spirit will likely be reflected in Thursday’s Senate Banking markup of the GENIUS Act. This will be set the stage for a comprehensive vote on the combined product, the STABLE GENIUS Act, sometime in the next two-to-three months.”

House hearing unfolds

In the House, lawmakers also heard from experts, including Paxos CEO Charles Cascarilla, Global Head of Digital Assets at The Bank of New York Mellon Corporation, among others, on Tuesday.

Rep. Ritchie Torres, D-N.Y., who has shown support toward crypto, compared digital assets to cars.

"The proper legislative response to the automobile is not to ban it, it's not to sabotage it, it's to regulate it," Torres said. "It's to make it safer. And as far as I'm concerned, the proper role of Congress is not to sabotage digital asset transactions, but to make them safer, to strike a careful balance between financial stability and innovation."

Some Democrats revealed hesitancy toward Republican-led stablecoin bills.

Top Democrat Rep. Waters of California criticized Trump over the launch of his memecoin and his executive order creating a strategic bitcoin reserve.

"Despite my belief that the Trump administration only wants crypto legislation that personally benefits them and protects their crypto financiers — I still hope we can work together on a bill that requires stablecoins be robustly and fairly regulated," Waters said.

The current Republican-led bill at play "strips away critical protections to shield investors from criminals," she added.

Rep. Stephen Lynch, D-Mass., criticized the GENIUS Act during Tuesday's hearing and said it needed to be amended "vigorously."

"I read the GENIUS Act over in the Senate — I'm a little weary about anything called genius coming out of the United States Senate — but there were so many problems with that and I'm hopeful, hopefully my colleagues, Mr. Hill, and others will amend that vigorously because it had huge, huge problems," Lynch said.

@ Newshounds News™
Source:  The Block

~~~~~~~~~

BRICS TRADE AGREEMENT LOOKS TO END THE PETRODOLLAR’S DOMINANCE

There is no denying that 2025 has seen tension between the West and the Global South reach a fever pitch. That is only expected to continue throughout this year, as a plethora of BRICS trade agreements look to end the petrodollar’s dominance.

The economic alliance has spearheaded efforts to increase trade settlements in local currencies. Moreover, that should continue to extend into the oil industry, which may only increase the growing geopolitical uncertainty between the United States and the bloc.

BRICS Eye an End to the Petrodollar: How Will Donald Trump Respond?

Since his 2024 presidential election win, Donald Trump has placed a clear target on the BRICS alliance. Their previous efforts to de-dollarize global markets led the President to threaten 150% tariffs on membership nations. Yet, that has not deterred its continued pursuit of US dollar alternatives in a host of sectors.

Moreover, that hasn’t limited the attractiveness of the BRICS bloc for developing nations. 

Three new nations have been invited to the bloc’s annual summit, all of which are eyeing a position in the collective. Moreover, their presence could only further efforts for BRICS to use new trade agreements to end the petrodollar’s dominance.

Due to the presence of sanctions, Russia pivoted into oil trade settlement currencies in 2022. Specifically, 78% of oil exports to fellow BRICS members China and India were in local currencies over the two years that followed. Comparatively, just 32% were settled in local currencies in 2021.

The alliance’s hopes of de-dollarizing the oil market can be clearly seen in the allies it has embraced. Since the arrival of BRICS+, it has welcomed Saudi Arabia, the United Arab Emirates (UAE), Egypt, and Iran. Those nations are some of the top oil producers in the world. Moreover, many stand to also see the petrodollar cease to hold as much dominance as it does.

If it were successful, it would be a monumental blow to the United States. The BRICS bloc holds more than 40% of the world’s oil and gas reserves Although 58% of currency reserves are still held in the greenback, it presents a key point of conflict that is building on already concerning relations between BRICS and the US.

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

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Iraq Economic News and Points to Ponder Tuesday Afternoon 3-11-25

Al-Alaq: Iraq has one of the highest gold reserves among Arab countries, amounting to 162 tons.
Economy | 01:53 - 11/03/2025  Mawazine News – Baghdad  The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Tuesday, that Iraq has one of the highest gold reserves among Arab countries, amounting to 162 tons.

Al-Alaq said in a statement: "The Central Bank is closely monitoring the movement of gold and currencies," noting that "part of diversification to ward off any risks is to have a percentage of gold reserves, especially in recent years, there have been continuous purchases."

He added that "Iraq today has 162 tons of gold, which is one of the highest reserves among Arab countries, and we are the fourth country in the size of the gold reserves we have." https://www.mawazin.net/Details.aspx?jimare=260122

Oil Prices Rise Slightly Despite Concerns Over Global Economic Slowdown

Tuesday 11 March 2025 | Economic Number of readings: 54   Baghdad / NINA / Oil prices rose slightly during trading on Tuesday, after reducing their previous losses, supported by the weakness of the US dollar, but gains remained limited amid continued fears of a possible economic recession in the United States, and the repercussions of customs duties on the pace of global growth.

Brent crude futures rose by 47 cents, or 0.68 percent, to record $69.75 a barrel, after witnessing a decline in early trading. "

West Texas Intermediate US crude futures rose by 42 cents, or 0.64 percent, to reach $66.45 a barrel, after declines recorded earlier in the session."

This slight rise came in conjunction with the dollar index falling to its lowest levels in four months, which contributed to supporting oil prices and making them less expensive for buyers holding other currencies. "
The two benchmark crudes recorded a 1.5 percent decline at the settlement yesterday, affected by market fears of a global economic slowdown." / End 2 https://ninanews.com/Website/News/Details?key=1191259

Dollar Continues To Decline As Iraq Stock Market Closes

11/03/2025  Mawazine News – Economy  The US dollar exchange rates witnessed a decline today, Tuesday, in the markets of the capital Baghdad, and in Erbil, the capital of the Kurdistan Region, with the closure of the main stock exchange in the country.

The dollar prices decreased with the closing of the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, where the exchange rate recorded 147,800 dinars per 100 dollars, while it recorded 148,200 dinars this morning.

As for the selling prices in the local exchange markets in Baghdad, it reached 148,750 dinars per 100 dollars, while the purchase price reached 146,750 dinars per 100 dollars.

In Erbil, the markets also witnessed a decline, where the selling price reached 147,700 dinars per 100 dollars, while the purchase price reached 147,600 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=260137

Minister Of Finance Stresses Importance Of Ongoing Partnership With World Bank
Economy | 11/03/2025  Mawazine News – Baghdad  Finance Minister Taif Sami stressed, on Tuesday, the importance of the ongoing partnership with the World Bank.

The Ministry of Finance said in a statement received by "Mawazine News" that "Minister of Finance Taif Sami received the World Bank Representative to Iraq, Jean-Christophe Carret, and his accompanying delegation."

She added that "ways to enhance economic and financial cooperation between Iraq and the World Bank were discussed," noting that "a number of key topics related to enhancing financial stability in Iraq were reviewed, in addition to discussing the development projects that the two parties seek to implement with the aim of achieving sustainable development.

" The Minister of Finance stressed "the importance of the ongoing partnership with the World Bank, and Iraq's aspiration to benefit from the technical and financial support provided by the bank in implementing strategic projects to stimulate economic growth and provide job opportunities, especially in areas that include infrastructure and human development."

For his part, the World Bank representative expressed the bank's commitment "to continue supporting Iraq in achieving its development goals," noting that "the World Bank pays great attention to enhancing Iraq's ability to face economic and development challenges, with a focus on sustainable development and achieving comprehensiveness in the benefits achieved."
https://www.mawazin.net/Details.aspx?jimare=260129

Rashid To An American Newspaper: Iraq Is Ready To Mediate Between Washington And Tehran

Political | 05:27 - 11/03/2025  Mawazine News – Baghdad  President Abdul Latif Rashid confirmed today, Tuesday, that Baghdad wants to play a mediation role between Washington and Tehran, while calling on US President Donald Trump to implement his promises regarding ending conflicts in the Middle East.

Rashid said in an interview with the American newspaper "Washington Times", that "Iraq has changed a lot from what it was in the days of Saddam Hussein, and the time of entering into conflicts and challenging the rights of other countries is over,"

adding that "some major companies, in the field of energy and others, are active here in petrochemicals and oil, and I do not think that we are facing a conflict with the United States, but on the contrary, we welcome all the help we can get from the United States, and we want to have a really good and friendly relationship with the United States."

He pointed out that "Iraq can play an important role in mediation because it is in constant contact with Iranian policy," indicating that "Iraq has no reservations about meeting senior Iranian officials, and has played a role in making Iran and the Kingdom of Saudi Arabia understand each other, and re-establishing the diplomatic service, which benefited everyone, and has also made some suggestions to Jordan and other countries."

Regarding Iraq's possible role in Syria, the president continued, saying, "It is clear that Syria is an independent state and has a new administration or new rulers, and we want the Syrian government to reflect the will of the Syrian people, either through elections or through the democratic steps that must be taken," stressing that "the Syrian administration must try to accommodate all segments of society, so that no one feels that he has been excluded or not treated as an ordinary citizen.

" He stressed that "there is one very important point for Iraq, which is the presence of large numbers of terrorists or families of terrorists on the Syrian border, and there is concern about that, and some arrangements must be made, so that the border does not get out of control."

In response to a question about whether the Iraqi president will receive an invitation to visit the United States, Rashid said, "I honestly do not know. I sent President Trump a congratulatory message and encouraged him to implement what he promised to maintain peace in the world, to end conflicts," noting that "life will not be easy, especially in our region, where we have conflicts in Syria, in Palestine, and we have problems in Lebanon, in Yemen, in Sudan, and in Somalia."
https://www.mawazin.net/Details.aspx?jimare=260136

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

Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 3-11-25

Good Afternoon Dinar Recaps,

CIRCLE TRIMS USDC CROSS-CHAIN SETTLEMENT TIME DOWN TO SECONDS WITH PROTOCOL UPDATE

▪Circle, issuer of the world’s second-largest stablecoin USDC, has launched a protocol update it says reduces cross-chain transaction settlement time “to seconds,” compared to an average of 13 to 19 minutes for a typical blockchain transaction between Ethereum and Layer 2 blockchains.

▪According to Circle, the newly launched Cross-Chain Transfer Protocol V2, or CCTP V2, improves upon the earlier version “with a new set of smart contracts and APIs.”

Circle, issuer of the world's second-largest stablecoin USDC, unveiled a protocol update on Tuesday it says will reduce cross-chain settlement time from several minutes to a matter of seconds.

The company's newly launched Cross-Chain Transfer Protocol V2, or CCTP V2, will improve upon CCTP V1 "with a new set of smart contracts and APIs," slashing cross-chain transaction settlement time from "an average of 13 to 19 minutes for a typical blockchain transaction" between Ethereum and Layer 2 blockchains to only seconds, according to a statement.

"CCTP V2 reduces the barriers that have hindered the fluid movement of digital dollars between supported blockchains," said Nikhil Chandhok, chief product officer of Circle, in the statement. 

"CCTP V2 gives developers greater flexibility to tailor cross-chain transactions to their specific needs and unlocks low-latency use cases in crypto capital markets, effectively abstracting away cross-chain complexities for developers and their users."

As the USD-pegged stablecoin market, by most accounts, is poised to keep growing, improving transaction time could prove beneficial to Circle as competition potentially heats up in the coming months and years.

Out of the roughly $235 billion worth of USD stablecoins in circulation, Circle's USDC accounts for $58 billion, according to The Block Data Dashboard. USDC ranks a distant second to Tether's USDT, the clear market leader.

Avalanche, Base and Ethereum to begin with

Circle said CCTP V2 will initially be available for developers working on Avalanche, Base and Ethereum, but the plan is to add support for more blockchains as the year progresses. "CCTP V1 will remain available on 11 blockchains," Circle said, adding that since launched in 2023, "CCTP has facilitated more than $36 billion in transaction volume."

Some of CCTP V2's new features Circle highlighted on Tuesday include "Hooks," which it said makes it possible for developers "to automate post-transfer actions on the destination blockchain."

@ Newshounds News™

Source:  The Block

~~~~~~~~~

BRICS: RUSSIA & IRAN ANNOUNCE NEW DEAL TO BOOST TRADE

Amid the ongoing tension between the US and BRICS, both Russia and Iran have announced a new deal to boost trade and cooperation. Indeed, both sides are expecting a surge in their partnership as things look increasingly uncertain for the alliance moving forward.

Throughout the year so far, the bloc has faced aggressive economic policy from the United States. Since being inaugurated, Donald Trump has not minced words regarding his feelings for the group. However, that has not seen the collective slow its ambitious growth efforts.

Russia & Iran Sign New Trade Deal as BRICS Faces Increased US Pressure

The last two years have seen the BRICS economic alliance embrace a massive growth effort. Indeed, they are continuing, with the alliance eyeing continued expansion in 2025. Moreover, it has held firm in its commitment to de-dollarization despite increased pressure from the United States.

Those efforts to fortify their alliance have continued for BRICS Monday as Russia and Iran have signed a new trade deal. According to a new report, both sides are expecting the increased cooperation to result in a “trade surge,” with cultural expansion to soon follow.

“Trade between Russia and Iran is generally demonstrating positive dynamics,” Ambassador Aleksley Dedov said. “We expect further growth in trade turnover at the end of this year,” he added. Indeed, they project a 15% increase in trade dealings over 2024. Moreover, a key emphasis on the increased trade is the decision for both sides to settle in local currencies.

That decision is yet another blow to the US dollar. President Donald Trump has not been kind to any de-dollarization efforts present globally. He has previously warned of 150% tariffs on nations that engage in the practice. It will be interesting to see if Russia and Iran are now subject to those threats.

@ Newshounds News™

Source:  Watcher Guru and TehranTimes

~~~~~~~~

3/11/25 Isaac's Update Link 

More encouraging news from Isaac.  He has German and Yellow Dragon bonds.  He has always said the German bonds will go first.  

Settings have changed and you can no longer copy or forward. But you can read his comments in both his room and the Living room.  

Basically he feels Good News is coming.  He feels he will have confirmation of that soon.

Newshounds will continue to report what Isaac has to say so keep checking back with us.

Isaac's Room Link 
Isaac Website Link 

Announcement Link 
Process Steps Link 

@ Newshounds News™  

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Tuesday Morning 3-11-25

Good Morning Dinar Recaps,

RETROACTIVE SOCIAL SECURITY PAYMENTS BEGIN, WHEN TO EXPECT THEM?

The Social Security Administration (SSA) has made remarkable progress in distributing retroactive payments to those impacted by the Social Security Fairness Act.

This pivotal legislation, passed at the end of 2024, repeals two controversial provisions—the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). These provisions had long been criticized for reducing or eliminating benefits for certain public sector workers, including firefighters, police officers, and teachers.

According to the SSA, over $7.5 billion has already been distributed to more than 1.1 million eligible beneficiaries.

The average retroactive payment stands at $6,710, compensating for benefits that would have been issued in 2024 had the law been enacted earlier. Initially, the agency estimated that processing these increased monthly payments and retroactive sums could take over a year. However, recent updates suggest that the majority of cases have been expedited.

Who will receive these payments and when? The SSA is actively adjusting the monthly benefits for affected recipients, with updated payments expected to be reflected in the April 2025 disbursement. Those who have not yet received their retroactive payment are advised to wait until April before contacting the SSA for further inquiries.

To determine eligibility for increased benefits, the SSA will be sending official notices by mail to affected individuals in the coming weeks. It is estimated that up to 3.2 million Americans will benefit from the changes introduced by the Social Security Fairness Act. However, some individuals may need to take action to ensure they receive their due benefits.

Individuals who are unsure whether they previously applied for retirement, spousal, or survivor benefits, or those who never applied due to WEP or GPO restrictions, should consider taking action. The SSA recommends submitting an application online or by phone at 1-800-772-1213 (Monday–Friday, 9 AM to 6 PM ET). When prompted, say “Fairness Act” to be connected with a trained representative.

How much will monthly payments increase? A September 2024 estimate by the Congressional Budget Office projected significant increases. Social Security beneficiaries previously impacted by the WEP will see an average increase of $360 per month. Those affected by the GPO could receive between $700 and $1,190 extra per month.

These adjustments represent a historic shift for millions of retired public sector employees, ensuring they receive the benefits they were previously denied. This change marks a new era of fairness and equity in the distribution of Social Security benefits.

For further details, beneficiaries should refer to their official SSA notices or check the agency’s website for updates. The SSA is committed to ensuring that all eligible individuals receive the benefits they deserve under the new legislation.

@ Newshounds News™

Source:  MSN

~~~~~~~~~

TRUMP SET TO SIGN EXECUTIVE ORDER REVERSING BIDEN’S CRYPTO BANKING RESTRICTIONS

President Donald Trump is all set to sign an executive order targeting Biden administration policies that have made it hard for crypto companies to access banking services. The order is expected to target policies under “Operation Chokepoint 2.0,” which seeks to roll back these restrictions and support the crypto industry.

Bo Hines, Executive Director of the White House’s Presidential Working Group on Digital Assets, confirmed that administrative action is coming but didn’t provide details. He mentioned that the industry can expect something soon.

Hines also emphasized that the Trump administration aims to end practices linked to “Operation Chokepoint 2.0,” a term coined by Nic Carter, which refers to efforts similar to the Obama-era Operation Choke Point that targeted payday lenders and gun dealers.

Trump’s Executive Order Could Open Fed Access to Crypto Banks

While details of Trump’s executive order are still being finalized, it could impact Federal Reserve policies on master accounts. These accounts, held by federally chartered banks, are essential for making direct payments and accessing the Fed’s services. Under the Biden administration, the Fed denied master accounts to crypto-focused banks like Custodia, hindering their growth.

Fox Business reporter Eleanor Terrett remarked that this is significant because the Federal Reserve and the FDIC have not yet reversed any anti-crypto policies, even though Federal Reserve Chairman Jerome Powell mentioned last month that he was concerned by the increasing number of crypto debanking cases and that the Fed would “take a fresh look” at the issue.

Trump Administration Pushes Forward Despite Challenges

While the Federal Reserve operates independently from the White House, the Trump administration is pushing forward with its crypto order, despite potential legal hurdles. Sources note that senior White House officials are set to meet Thursday to assess possible challenges before putting the order on Trump’s desk.

However, a White House official denied any such meeting is scheduled but confirmed that efforts to roll back Operation Chokepoint 2.0 are already in motion. The race to reshape crypto policy is heating up, and all eyes are on what comes next.

Directive on Stablecoins?

The upcoming executive order could extend beyond banking, and might include a directive stating that stablecoins, which are designed to maintain a stable value and are typically pegged to the U.S. dollar, should not be classified as securities.

If Trump signs this order, it would be his third crypto-related executive action since returning to office. The first, signed on January 23, created a Presidential Working Group on Digital Asset Markets. The second, signed last week, ordered the establishment of a U.S. government Bitcoin reserve and a separate stockpile for other digital assets.

Bitcoin Dips Despite The Developments

Trump’s recent Crypto Summit disappointed industry leaders, with his Bitcoin reserve plan failing to boost the market as the administration plans to use seized assets. Broader economic policies, including tariffs on China and others, have also shaken markets. As a result, institutional investors pulled funds from Bitcoin and Ethereum ETFs, causing Bitcoin to fall below $80,000 for the first time in 4 months and Ethereum to drop to $1,870.

@ Newshounds News™

Source:  Coinpediia  and Twitter

~~~~~~~~~

THAILAND’S SEC JUST APPROVED USDT & USDC, ALONGSIDE BITCOIN & ETHEREUM AS APPROVED TOKENS!

▪Thailand’s SEC approves USDT and USDC for trading on licensed crypto exchanges.

▪Stablecoins join Bitcoin, Ethereum, XRP, and Stellar in Thailand’s approved crypto list.

▪New rules effective March 16 boost crypto trading and adoption in Thailand.

▪Tether faces transparency scrutiny despite $142 billion market cap and growing demand.

Thailand’s financial regulator, the Securities and Exchange Commission (SEC), has expanded its list of approved cryptocurrencies. The country has now allowed the use of Tether (USDT) and Circle’s USD Coin (USDC) on licensed digital asset exchanges. This decision follows a growing demand for stablecoins in crypto trading and payments worldwide.

Thailand Regulator Adds USDC, USDT Stablecoins

With this approval, Thailand opens its doors to stablecoins, a crucial part of the global crypto market. Stablecoins like USDT and USDC are widely used for trading, payments, and remittances due to their price stability.

By adding USDT and USDC to its list of approved cryptocurrencies, alongside Bitcoin, Ethereum, XRP, and Stellar, Thailand is expanding its digital asset ecosystem. This move not only enhances trading opportunities but also strengthens Thailand’s position as a growing hub for crypto adoption in Asia.

The new regulations, set to take effect on March 16, will allow licensed exchanges to list and trade these stablecoins, making it easier for investors and traders to move funds within the crypto ecosystem.

Thailand Aligns with Global Crypto Trends

The decision to approve USDT and USDC comes after a public consultation held in February, where most participants supported the idea. Across regions like Southeast Asia, Africa, and Latin America, stablecoins have gained popularity due to their reliability and ease of use in transactions.

Tether alone contributes to around 40% of the total trading activity in the country. As of now, USDT holds a massive $142 billion market capitalization, while USDC follows with $58 billion.

Push for Transparency

The approval of Tether’s stablecoin comes at a time when the company is facing scrutiny over its financial transparency. Just last week, the company appointed Simon McWilliams as its Chief Financial Officer to address concerns regarding its financial audits.

The company has been publishing quarterly reports verified by BDO Italy, but some critics argue that a full financial audit is needed. Following the 2022 market crash, the crypto industry has pushed for more transparency.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

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“Tidbits From TNT” Tuesday Morning 3-11-2025

TNT:

Tishwash:  Mechanism for publishing data on buying and selling foreign currencies

The Central Bank of Iraq explains the mechanism for publishing data on the sale and purchase of foreign currencies from the daily bulletin to the monthly report, which will include:

- Total enhancement of bank balances abroad.
- Settlements of electronic payments abroad.
- Cash sales.

The bank confirms that this decision came in conjunction with the transition from the electronic platform mechanisms to the mechanisms for enhancing the balances of authorized Iraqi banks with correspondent banks, and that the process of enhancing banks does not reflect the daily sales of bank customers until the operations are actually realized. 

It draws attention to the Central Bank of Iraq's possession of sufficient foreign reserves to meet all official requests for foreign currency, which enhances confidence in the national currency. 
Noting that the report scheduled to be published next month will include details of external transfer operations

in terms of (amounts, the most prominent imported goods and materials, the most prominent countries from which they were imported.

Central Bank of Iraq 
March 5, 2025   link

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

Tishwash:  Disagreements paralyze the Iraqi parliament in Ramadan...the boycott continues

 Independent Iraqi parliament member Jawad al-Yasari said on Tuesday that the parliament session will not be held due to the continued boycott of the sessions by most of the representatives, in protest against the failure to include the service and retirement law for the Popular Mobilization Authority on the agenda .

Al-Yasari told Shafaq News Agency, "The indicators confirm that the parliament session for today, Tuesday, will not be held, as happened in previous sessions, due to the continued boycott of most of the representatives, especially from the Coordination Framework blocs, of the sessions in protest against the failure to put the service and retirement law of the Popular Mobilization Authority to a vote."

He added, "Holding a parliament session during the month of Ramadan seems difficult in light of the ongoing political disputes and conflicts, which means that the sessions will remain suspended until after the Eid al-Fitr holiday, until an agreement is reached between the political parties on passing the law."

The Iraqi Parliament is expected to hold its regular session today, with the agenda including several topics, including voting on the draft law amending the fourth amendment to the Industrial Investment Law for the Private and Mixed Sectors No. 20 of 1998, in addition to voting on a decision to recommend to the Ministry of Education to reinstate the trial system .

The Council is also scheduled to discuss the report of the interim parliamentary committee to follow up on the preservation of state property, the first reading of the draft law to cancel the law ratifying the agreement exempting holders of diplomatic and service passports from entry visas between Iraq and Cyprus, and the first reading of the proposed law amending the second law of the Mukhtars Law No. 13 of 2011 .

The agenda also includes a report and discussion of the second reading of the proposed fourth amendment to Law No. 6 of 2000 on the Progression of Medical and Health Professionals .

It is noteworthy that the independent MP, Hussein Al-Saabari, revealed to Shafaq News Agency, last Sunday, that there is a tendency to dissolve the Iraqi Parliament and go to early elections, in the event that its sessions continue to be disrupted .

The House of Representatives is witnessing a continuous disruption of its sessions, due to the lack of a legal quorum to hold them, despite announcing the agenda and setting the date of the session . link

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

Tishwash:  The Ministerial Council discusses the completion of the budget schedules and developments in the oil market locally and globally

Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein chaired the eighth session of the Ministerial Council for the Economy today, Monday, to discuss completing the budget schedules and developments in the oil market locally and globally.

A statement by the Council, received by {Euphrates News}, stated that: "The session was held in the Council building in the presence of the Deputy Prime Minister and Minister of Planning, the Ministers of Finance, Trade, Agriculture, Industry, Labor and Social Affairs, in addition to the Secretary-General of the Council of Ministers, the Governor of the Central Bank, the Undersecretary of the Ministry of Oil, the Deputy Chairman of the National Investment Commission, and the Prime Minister's Advisors for Economic and Legal Affairs."

According to the statement, the Council hosted the Minister of Interior to discuss the project to rehabilitate vehicle registration sites and issue driving licenses throughout Iraq, in addition to the smart signals project and the radar system in the capital, Baghdad, where the Minister explained that "these projects will contribute to improving the services provided to citizens, enhancing traffic flow, and reducing congestion." The Council supported the measures taken by the Ministry in this regard, and recommended submitting them to the Council of Ministers.

The Council also discussed with the Deputy Prime Minister and Minister of Oil the completion of the budget schedules, where the Minister provided a detailed explanation of the reality of the local and global oil market, in terms of prices and expected production quantities, expenses necessary to manage extraction and marketing operations, and purchase of petroleum derivatives, in addition to the expected revenues from the oil sector.

The statement continued, "The Council also hosted the Undersecretary of the Ministry of Electricity and officials in the Ministry, in addition to the Director General of the Trade Bank of Iraq and a number of heads of investment companies specialized in the energy sector, to review investment contracts and discuss the best ways to ensure the continuity of electricity supplies, especially with the approach of summer

While the Council hosted the head of the Central Organization for Standardization and Quality Control, to discuss the Ministry of Planning's request to postpone the implementation of the Iraqi specification for vehicles, and organize the process of issuing car import licenses until the end of this year. 

The head of the agency explained that "the postponement will enable the relevant authorities to complete the required technical procedures, in line with the Consumer Protection Law and the Competition and Anti-Monopoly Law," and the council approved the request, setting December 31, 2025 as the final date for implementation.  link

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

Mot: Ah yes me fine lad, an Irishman always follows the rainbow.....

Mot: . Blessing To Youuuuuu

MilitiaMan & Crew-Iraq Dinar News Central Bank Digital Currency-Financial System-Globally-The Future Developments

MilitiaMan & Crew-Iraq Dinar News Central Bank Digital Currency-Financial System-Globally-The Future Developments

3-10-2025

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=_ncJrlICytY

Iraq Economic News and Points to Ponder Monday Afternoon 3-10-25

Economist: Lower Oil Prices May Push Iraq To Reduce Exchange Rate And Cut Expenses

Time: 2025/03/10 12:38:15 Read: 2,895 times   {Economic: Al Furat News} Economic expert Nabil Al Marsomi warned today, Monday, that the continued decline in oil prices will put the Iraqi government before difficult choices, including those that may include reducing the exchange rate to confront financial challenges.

Al-Marsoumi told Al-Furat News Agency that “the government may be forced to take austerity measures that include reducing public expenditures and increasing non-oil revenues,” noting that “the oil market is currently suffering from significant weakness, with a decline in oil policy that may include imposing fees on some countries such as China, Canada and Mexico, in addition to the possibility of canceling the OPEC Plus agreement, which stipulates reducing production by two million barrels per day.”

He added, "These expectations indicate further declines in oil prices in the coming weeks, which will negatively affect the Iraqi economy."  LINK                                                                                    

The Ministerial Council For Economy Discusses The Completion Of The Budget Schedules And The Reality Of The Local And Global Oil Market

Local | 08:28 - 10/03/2025   Mawazine News – Baghdad   The Ministerial Council for the Economy discussed, on Monday, completing the budget schedules and the reality of the local and global oil market, while setting the end of this year as the final date for implementing the Iraqi specifications for vehicles and regulating the process of issuing car import licenses.

The Council said in a statement received by Mawazine News: "Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein chaired, on Monday, the eighth session of the Ministerial Council for the Economy, which was held in the Council building in the presence of the Deputy Prime Minister and Minister of Planning, the Ministers of Finance, Trade, Agriculture, Industry, Labor and Social Affairs, in addition to the Secretary-General of the Council of Ministers, the Governor of the Central Bank, the Undersecretary of the Ministry of Oil, the Deputy Chairman of the National Investment Commission, and the Prime Minister's advisors for economic and legal affairs."

He added that "the Council hosted the Minister of Interior to discuss the project to rehabilitate vehicle registration sites and issue driving licenses throughout Iraq, in addition to the smart signals project and the radar system in the capital, Baghdad."

The Minister explained that "these projects will contribute to improving the services provided to citizens, enhancing traffic flow, and reducing congestion."

The Council supported the measures taken by the Ministry in this regard, and recommended submitting them to the Council of Ministers.

He added that "the Council discussed with the Deputy Prime Minister and Minister of Oil the completion of the budget schedules, where the Minister provided a detailed explanation of the reality of the local and global oil market, in terms of prices and expected production quantities, expenses required to manage extraction and marketing operations, and purchase of petroleum derivatives, in addition to the expected revenues from the oil sector."

He stated that "the Council hosted the Undersecretary of the Ministry of Electricity and officials in the Ministry, in addition to the Director General of the Iraqi Trade Bank and a number of heads of investment companies specialized in the energy sector, to review investment contracts and discuss the best ways to ensure the continuity of electricity supplies, especially with the approach of summer,"

noting that "the Council hosted the head of the Central Organization for Standardization and Quality Control, to discuss the Ministry of Planning's request to postpone the implementation of the Iraqi specification for vehicles, and organize the process of issuing car import licenses until the end of this year."

The head of the agency explained that "the postponement will enable the concerned authorities to complete the required technical procedures, in line with the Consumer Protection Law and the Competition and Anti-Monopoly Law."

He stated that "the Council approved the request, setting December 31, 2025 as the final date for implementation."   https://www.mawazin.net/Details.aspx?jimare=260110

Basra Oil Prices Stabilize Above $70

Monday 10 March 2025 09:46 | Economic Number of readings: 174   Baghdad / NINA / Basra crude prices (heavy and medium) witnessed a remarkable stability at the opening of weekly trading in the global market.

Basra medium crude recorded $ 70.83 per barrel, while heavy recorded $ 67.78 per barrel.

The data also showed a slight decrease in global crude prices, as British Brent crude recorded $ 69.87, while US West Texas Intermediate crude recorded $ 66.53 per barrel. / End https://ninanews.com/Website/News/Details?key=1191005

Gold Prices Rise As Demand For Safe Havens Increases

10/03/2025    Mawazine News – Economy   Gold prices rose on Monday, supported by a weaker dollar and increased demand for safe havens due to concerns about a global trade war, while investors awaited more evidence to assess the Federal Reserve's stance on interest rates. Spot gold rose 0.1% to $2,914.42 an ounce, while U.S. gold futures rose 0.3% to $2,921.90.
https://www.mawazin.net/Details.aspx?jimare=260093

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