“Tidbits From TNT” Thursday Morning 5-22-2025

TNT:

Tishwash:  Iraq and France Discuss Boosting Economic Ties

Iraq's Minister of Trade, Dr. Atheer Daoud Al-Ghurairi, met on Tuesday with French Ambassador to Baghdad, Patrick Durel, to explore ways of enhancing bilateral cooperation, particularly in the economic and investment sectors.

Al-Ghurairi emphasised Iraq's commitment to creating an attractive investment environment and highlighted the country's promising opportunities across various sectors. He invited French companies to participate in a "Made in France" exhibition in Iraq and proposed a joint forum for Iraqi and French private sectors to present investment projects and explore partnerships.

The two officials also discussed strengthening cooperation in trade, agriculture, and healthcare.

Ambassador Durel praised Iraq's ongoing economic reforms aimed at improving the business climate. He formally invited Minister Al-Ghurairi to visit France to deepen coordination and expand areas of cooperation.

Both sides agreed to continue joint efforts to broaden business engagements and reinforce economic and commercial relations for the mutual benefit of the two countries.  link

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Tishwash:  Minister of Environment: Carbon projects will provide additional income for Iraq and attract international investments.

Environment Minister Helo Al-Askari confirmed on Wednesday that carbon projects will provide additional income for Iraq and attract significant international investments.

“Iraq faces major environmental challenges, including rising temperatures, low rainfall, water scarcity, and declining water levels in rivers and water bodies. This has led to a significant decline in biodiversity and an increase in desertification, which has resulted in the displacement of a number of villagers and rural residents in some areas to other areas, which will cause future problems for the receiving regions in terms of social, political, environmental, and economic aspects,” the Minister of Environment said during the first international conference on carbon economics, which was followed by Al-Masry.

The Minister of Environment explained that "these factors have prompted the Iraqi government to pay attention to the environmental file and related issues. One of the most notable achievements of the government of Prime Minister Mohammed Shia al-Sudani is the establishment of the General Company for Carbon Economics within the Ministry of Environment." He indicated that "this company not only works to issue carbon bonds, but also seeks to implement environmental improvement projects to preserve Iraq's environment."

The Minister affirmed that “Iraq is witnessing an urban, political, economic and social renaissance, and the features of an environmental renaissance have begun to appear, in accordance with the Prime Minister’s directives to maximize and diversify the financial revenues of all ministries. Our ministry, through the efforts of all, has been able to establish the General Company for Carbon Economics and work with relevant national and international bodies to attract international companies to the country for investment, which will contribute to securing an additional source of income for Iraq.”

He pointed out that "the ministry has achieved a major accomplishment through the General Company for Carbon Economics, attracting the interest of international companies, including the global specialist company Olefin, which has pledged to invest £2 billion in the first phase of the project."  link

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Tishwash:  Erbil International Fair: A Vital Platform for Attracting Investors

The 15th Erbil International Construction, Electricity, and Energy Exhibition is a key meeting point for investors and owners of industrial and commercial companies from inside and outside Iraq, reflecting the vitality of the industrial and commercial sector in the region and the country as a whole.

The exhibition, which will run for several days, features more than 250 local, Arab, and foreign companies specializing in construction, equipment, and building materials, providing a great opportunity to exchange expertise and establish new partnerships that enhance investment opportunities and economic development.

The exhibition's general manager, Kuran Saad Abdullah, told Al-Sabah that the local government in the Kurdistan Region attaches great importance to the exhibition and is working in coordination with relevant government ministries and directorates to support its activities. The exhibition has attracted wide participation from 16 Arab and foreign countries, including 34 specialized Chinese companies, which reinforces the exhibition's importance as a regional and international center for trade and industry.

The exhibition provides an integrated platform that brings together specialists in the fields of infrastructure, housing, and various investment projects. Participating companies showcase the latest products, services, and advanced technologies that meet the demands of the local and regional markets.

Abdullah pointed out that the exhibition's activities include a global trade conference, which will include extensive discussions on opportunities and challenges in the industrial and investment sectors, with the attendance of senior government officials, diplomats, and relevant authorities.

He explained that entry to the exhibition is limited to companies, investors, and specialized visitors via a barcode system, and will be open from 10:00 a.m. to 7:00 p.m. The exhibition will continue until tomorrow, Friday, allowing those interested in building business relationships and strengthening their presence in the market.  link

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Mot: and - Now You Know the Rest of the Story!!! 

Mot:  Sure Hopes We RV before someone Catches on !!!!  

Iraq Economic News And Points To Ponder Wednesday Afternoon 5-21-25

Iraq Facing Economic Challenges: IMF's Vision for 2025?

Bassam Raad  The International Monetary Fund (IMF) issued a concluding statement on May 15, 2025, addressing the economic situation in Iraq, highlighting the economic challenges facing the country and presenting a roadmap for urgent reforms aimed at achieving financial stability.

Current Economic Challenges: The Iraqi economy faces complex challenges ranging from slowing global growth, Trump's trade wars, accelerating global inflation, and declining oil prices, the primary source of revenue. Expansion in government spending (employment sector) is also widening the fiscal deficit and exacerbating the risk of reliance on oil as the primary source of revenue.

The challenges are not limited to public finances alone, but also include deteriorating infrastructure, a weak private sector, and a lack of investment in non-oil sectors. This is in addition to the fiscal deficit rising to 4.2% of GDP and a significant decline in the current account surplus.

This decline is a critical indicator that must be carefully considered, given that the current account is an important indicator of the health of the country's overall economy.

Outlook for 2025: The Fund expects economic growth to remain weak this year, with non-oil GDP slowing to 1%. The current account is also expected to deteriorate further, impacting foreign exchange reserves, which reached $100 billion at the end of 2024, covering more than a month of imports.

The future of the Iraqi economy: The International Monetary Fund believes that the future of the Iraqi economy depends largely on the government's ability to implement structural and financial reforms. Iraq possesses significant potential for economic growth, but realizing this potential requires taking concrete steps to implement a set of reforms proposed by the Fund.

The IMF statement emphasized the importance of cooperation between the Iraqi government and the IMF to implement these proposed reforms, which would contribute to improving the country's economic conditions.

 In conclusion, the IMF's vision is not merely recommendations, but rather an opportunity to redirect the Iraqi economy toward sustainability through strategic planning and effective implementation of the proposed economic and financial reforms.  https://economy-news.net/content.php?id=55676

 Stock Exchange  Economy News – Baghdad  The Exchange Rate Of The US Dollar Rose Against The Iraqi Dinar, This Wednesday Morning, In Baghdad Markets.

The dollar exchange rate rose on Baghdad's two main stock exchanges, Al-Kifah and Al-Harithiya, to 142,700 dinars per $100. On Tuesday, it reached 142,450 dinars per $100.

Selling prices at exchange offices in Baghdad's local markets rose, reaching 143,750 dinars for $100, and 141,750 dinars for $100.   https://economy-news.net/content.php?id=55670

The Permanent Council For Private Sector Development Is Examining Mechanisms To Enhance Its Role In The Iraqi Economy

Wednesday, May 21, 2025, 10:58 PM | Economic Number of reads: 149  Baghdad / NINA / The Permanent Council for Private Sector Development held its second consultative session on Wednesday evening at the Ministry of Planning. To discuss and follow up on the recommendations arising from the first meeting of the Council, including its working mechanisms and pivotal role in serving development in the country.

The Second Deputy of the Council, Abdullah Saleh Al-Jubouri, said that this is the second session, which is very important to establish work mechanisms and define the role of the Council by involving the Ministerial Council for Economy and the Council of Ministers and Representatives in correcting, amending and arranging everything related to the private sector in all its sectors, which represent (19) important sectors and include all economic activities carried out by the state.

Al-Jubouri stressed the need to develop the role of the private sector to lift a large burden off the shoulders of the rentier state, by having the private sector assume the responsibility of managing the wheel of the Iraqi economy at the present time to get out of the circle of the rentier state and seek to provide great job opportunities for various segments of society to achieve the development of the country.

For his part, the Prime Minister's Advisor, Dr. Hamoudi Abbas Al-Lami, explained: This session came to discuss issues related to the private sector and work on formulating and crystallizing them in order to present them to the Prime Minister.

Thus, transforming them into decisions that support this sector, which represents the solution to all problems, including providing job opportunities and addressing financial problems resulting from fluctuating oil prices and other issues that all countries are experiencing as a result of military and political developments and regional conflicts.

For his part, the Director General of the Department of Economic and Financial Policies at the Ministry of Planning, Dr. Sabah Jundi Mansour, indicated that the Council represents a vital platform for strengthening partnerships between the public and private sectors. He stressed that this partnership is an urgent necessity to drive sustainable economic development in Iraq and open new horizons for investment.

He stressed the need for our recommendations and decisions to be implementable and serve the country's development goals, thus promoting and developing the private sector.

The session, which was attended by the Secretary-General of the Council, Muhammad Al-Har, witnessed the participants presenting specialized sectoral papers that addressed the challenges and opportunities for developing the private sector in various fields, praising the role of the Ministry of Planning, its great support for the private sector, and its efforts to provide the best conditions for the Council's work. /End
https://ninanews.com/Website/News/Details?key=1228324

Minister Of Finance: Restructuring Government Banks Represents A Pivotal Step Toward Developing The Banking Sector

Economy | 05/21/2025  Mawazine News – Baghdad  Finance Minister Taif Sami affirmed on Wednesday that the restructuring of government banks represents a pivotal step towards developing the banking sector.

A statement from the ministry received by Mawazine News stated: “Minister of Finance Taif Sami chaired today a joint meeting of the administrations of Rafidain and Rashid Banks and representatives of Ernst & Young Consulting to follow up on the implementation stages of the government banks restructuring project.

”The statement added that “the meeting discussed the progress made in reviewing and updating the internal regulations of the two banks in line with governance requirements, in addition to assessing the status of the banks’ foreign branches and ways to develop them and link them to the central administration.”

The statement explained that “the meeting also addressed updating data on credits, deposits, and clean assets, and implementing the comprehensive banking system in an increasing number of branches, in addition to reviewing plans to increase the capital of the two banks, studying the reality of investments, and assessing their financial feasibility.”

It continued, “The meeting also touched on following up on the legal aspects related to the restructuring process and the proposed amendments to the internal regulations to ensure their consistency with applicable banking laws and regulations.”

According to the statement, the minister stressed "the need to accelerate the pace of work and implement requirements according to the specified timetables," noting that "the restructuring of government banks represents a pivotal step toward developing the banking sector and raising its efficiency."

Sami called for "continued coordination between the two banks and the consulting body to ensure the completion of the requirements for institutional and administrative transformation."

https://www.mawazin.net/Details.aspx?jimare=261775

The Central Bank Reveals The Amount Of Its Financing For Clean Energy Projects

Banks   Economy News – Baghdad   The Central Bank of Iraq announced on Wednesday that it has begun granting banking licenses to support climate change, preserve the environment, and finance green projects. It also announced a donation of half a billion dinars to each brick factory to transition to clean energy, and 350 billion dinars to the urban afforestation initiative.

"Central banks are playing an increasing role today in supporting environmental improvement and developing the green economy as part of a global trend toward sustainability and addressing climate challenges," said Ali Al-Alaq, the bank's governor, during the first international conference on carbon economics in Iraq, as monitored by Al-Eqtisad News.

"In recent years, this trend has expanded significantly to include environmental and climate issues due to their impact on the macroeconomy and financial stability."

He added, "Our monetary policy is based on encouraging green financing, providing favorable financing terms for environmental projects, encouraging banks and financial institutions to disclose the discovery of these climate risks and ways to manage them, cooperating with other central banks through networks such as the Financial System Network to exchange knowledge and unify efforts, and integrating environmental risks into the banking sector and measuring their impact."

Al-Alaq continued, "I would like to highlight a number of initiatives undertaken by the Central Bank of Iraq as part of a series of innovative solutions and measures that contribute to mitigating immediate environmental challenges.

These include the Central Bank's presentation, in cooperation with the Higher Committee for Lending in the Council of Ministers, of a one-trillion-dinar initiative to shift from the use of traditional energy sources to renewable energy and reduce carbon emissions to achieve sustainable development."

He pointed out that "the loans granted to environmentally and sustainable projects under this initiative relate to waste recycling. These projects have already been funded, including the management of the palm cultivation project, the Abu Ghar fields in the Samawah desert, and the Green House project."

Al-Alaq explained, "We at the Central Bank have also worked in cooperation with the World Bank to develop a green financing model and adopt it as part of our approved financial sustainability roadmap for the years 2023-2029.

One of its outcomes is the development of a sustainable financing roadmap for managing environmental, social, and governance risks. By implementing these rules and practices, the banking sector will be the first to implement them to ensure that its activities do not harm the environment."

He added, "We have also begun granting specialized banking licenses to support climate action and environmental conservation through financing green projects, and work is underway to integrate these banks into the Iraqi banking ecosystem soon."

He announced that "the Central Bank of Iraq has implemented important projects, including the rehabilitation of brick factories to convert from polluting fuels, such as black oil, to clean fuels, such as liquid gas, to reduce carbon emissions, as these factories constitute a major source of environmental pollution, especially in the capital, Baghdad. We have allocated 500 million dinars for each factory that converts from polluting fuels to clean fuels."

Al-Alaq affirmed, "We also provided support to the Environmental Improvement Fund to combat air pollution, with an amount of one billion dinars, to contribute to the spread of green spaces and reduce polluting emissions.

The Central Bank also financed waste recycling projects within the framework of the Energy Initiative. Work is currently underway within these frameworks and procedures to help reduce soil pollution, especially in sanitary landfill areas, which represent a future environmental risk that will impact the type and quality of soil in housing, agricultural, and other projects."

The Central Bank Governor said, "We have also worked to finance various small agricultural projects within the framework of this bank's initiative, under the 'Afaq' programme, in partnership with the International Labour Organisation, the Iraqi Guarantee Company and private banks.

This funding amounted to approximately three billion dinars, specifically for forcibly displaced communities in the governorates of Nineveh and Dohuk."

He concluded by saying, "We would also like to point out that the Central Bank has donated and contributed approximately 350 billion dinars to the urban afforestation initiative, which contributes to developing the entrances to the governorates with green belts that act as barriers to dust and environmental pollutants and reduce desertification. We hereby declare our full readiness to provide further support in this regard."   https://economy-news.net/content.php?id=55674

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

Final Melt-Up to S&P 8000 - Then an 80 % Crash

David Hunter WARNS: Final Melt-Up to S&P 8000 - Then an 80 % Crash

Wealthion:  5-21-2025

Contrarian macro strategist David Hunter delivers his boldest outlook yet: a final parabolic melt-up in stocks during 2025, capping a 43-year secular bull market, followed by what he calls the biggest deflationary bust since 1929.

In this must-watch interview with James Connor, Hunter predicts the S&P 500 surging to 8000 and the Dow to 55,000 before an 80 % collapse wipes out trillions.

Key points he explains:

Why the Fed is already behind the curve and will soon panic-cut rates

How bearish institutional positioning could fuel the melt-up

Signs we may already be in a recession

Why the coming global bust could dwarf 2008

How a $20 trillion Fed balance-sheet expansion could spark hyperinflation later in the 2030s

Why the next bull market should favor commodities, oil, and precious metals over tech

Also discussed: his targets of $ 20,000 gold, $500 silver, $500 oil, and why traditional index investing may be “dead money” for a generation.

Chapters:

1:12 - Buy the Bounce or Sell the Surge?

3:27 - What Could Propel the S&P to 8 000?

6:31 - Can Markets Soar While the Economy Sinks?

8:40 - Is the Fed Already Behind the Curve?

 11:19 - How Severe Could the Coming Slowdown Be?

16:41 - The Two-Speed Economy: Haves vs Have-Nots

20:47 - Will Unemployment Hit Double Digits?

28:14 - Could GDP Plunge Like 1932 Again?

35:08 - Canada’s Real-Estate Risk & Global Fallout

40:47 - Bubble Fever: Speculation on Steroids

49:47 - The Biggest “If” in Hunter’s Forecast

52:01 - Haircut Inflation & the Commodity Supercycle

 55:05 - Can You Outsmart a Deflationary Bust?

https://www.youtube.com/watch?v=vQS844n8nC4

Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 5-21-25

Good Afternoon Dinar Recaps,

XRP NEWS: RIPPLE LAWSUIT IS NOT CLOSED, FORMER SEC LAWYER HINTS ‘BIGGER ISSUE’

▪️ Legal experts clarify Ripple-SEC lawsuit is not over; Judge Torres denied motions due to procedural errors.

▪️ False online claims spark confusion; attorneys warn XRP community to avoid premature conclusions about the case status.

There’s been a lot of chatter online lately about the status of the long-running legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). While some legal experts following the case closely believe it might take a few more months before a final verdict is reached, misleading claims and rumours continue to spread on social media.

Recently, a user named Altcoin Bale posted on X, claiming that the case was already closed, banks were quietly buying XRP, and retail investors would soon be priced out. But this statement didn’t sit well with pro-XRP attorney Bill Morgan, who has been actively tracking the lawsuit.

Bill quickly responded, saying, “FFS the case is not closed, or did you miss the news last week about an unsuccessful motion for an indicative ruling and an Appeal and Cross-appeal in abeyance but not over.”

Another user replied to Bill, saying that the case had hit a procedural snag because both Ripple and the SEC submitted a dismissal request using the wrong form. According to them, this technical error led the judge to reject it.

However, former SEC lawyer Marc Fagel stepped in, clarifying that the situation was far more serious than just a simple paperwork issue. “That is not an accurate description at all. It’s a far bigger issue than that,” he commented.

Bill Morgan, expressing his frustration, remarked, “The XRP community don’t want to listen. They want to hear ‘case closed, XRP to the moon.’”

So What Actually Happened?

For the unversed, here’s what actually happened: Judge Analisa Torres denied both parties’ motions for an indicative ruling. In simple terms, the judge stated that if the court’s jurisdiction were restored, she would deny the motion as it was filed under the wrong procedural rule.

This means Ripple and the SEC will likely have to refile the motion correctly, and possibly plead their case once again.

While XRP supporters are eagerly awaiting good news, it’s clear from the legal experts’ comments that the lawsuit is still ongoing — and there are a few more legal hurdles to clear before any final outcome.

@ Newshounds News™
Source:  Coinpedia

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BRICS: US HITS INDIA WHERE IT HURTS THEM THE MOST: REMITTANCE TAX

US President Donald Trump is looking to hit BRICS member India where it hurts them the most — the remittance tax. The new tax proposal by House Republicans could impact a significant number of Non-Resident Indians (NRIs), as the bill aims to levy a 5% tax on remittances sent to India from the US.

The bill was first introduced last Monday, where international transfers from non-citizens to BRICS country India will face a 5% tax. The bill, if passed, will affect workers who send money back to their families in India. The 5% tax will be used to help fund tax breaks and also tighten border security measures.

5% Remittance Tax Could Soon Hit BRICS Member India

Trump has publicly called the legislation “great” and “one big beautiful bill”, and is also ensuring that Republicans pass the legislation. The 5% tax on remittances to BRICS country India will potentially fund billions to the US Treasury.

The latest report highlights that Indian workers send close to $83 billion a year in remittances back to their families in India.

Therefore, a 5% tax could add close to $4.15 billion to the US Treasury if the new bill is passed. Currently, BRICS member India is the world’s top recipient of remittances.

If $100,000 is sent back home, then the IRS gets $5,000 through the remittance tax. Until 2025, remittance was never taxed in the US, making it a first-of-its-kind policy.

Legislation Timeline and Enforcement

The House Republicans aim to pass the bill on Memorial Day, May 26, 2025. Lawmakers hope to get the law signed and roll into action by July 4, Independence Day.

Every financial institution and money transfer service will be tasked to collect the 5% remittance tax for money going to BRICS member India.

The rule will have no limit, and every transfer, including both big and small, will be subject to taxes.

@ Newshounds News™
Source:  Watcher Guru

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Iraq News Posted by Clare at KTFA 5-21-2025

KTFA:

Clare:  Well-known companies show strong interest in Iraq

5/20/2025 - BAGHDAD

The National Investment Commission confirmed on Tuesday that "there is strong interest from well-known companies in Iraq."

"Iraq witnessed a significant influx of foreign investments over the past two years, exceeding $64 billion," said the head of the National Investment Commission, Haider Makiya, to the Iraqi News Agency - INA. 

This figure reflects the success of the investment planning that was completed in 2023. "We began to reap its fruits in 2024 and 2025," he noted.

He highlighted that "most of these investments belong to well-known companies operating directly within Iraq."

"The Prime Minister indicated in the Parliament the size of these investments, which exceed $60 to $63 billion," he pointed out.  LINK

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Clare:  By the end of the year, Iraq will launch its first 250-megawatt solar power plant

5/21/2025

Minister Hayan Abdul-Ghani stated on Wednesday that the first solar-powered electricity generation plant in Iraq will be inaugurated by the end of 2025, stressing the ministry's commitment to implementing projects to stop the burning of associated gas and the resulting thermal emissions.

This came in a speech he delivered during the first international conference on carbon economics in Iraq, which was attended by a Shafaq News Agency correspondent in the capital, Baghdad.

In his speech, the minister said, "Iraq has realized the magnitude of the global climate challenge and the rapid economic and technological changes that are imposing themselves on the energy landscape."

He added, "Carbon emission reduction can be transformed into a real opportunity to attract financing and investment, and develop technology through carbon market mechanisms and carbon bonds." He added, "We have already taken steps in this direction, including paving the way for associated gas movement projects, achieving routine flaring by 2029, and preparing projects for carbon emission opportunities, through openness to international markets and bilateral cooperation with international partners."

Abdul Ghani also indicated that "the first solar-powered electricity generation station, with a capacity of 250 megawatts, will be inaugurated by the end of this year."

He continued, "We view carbon as an economic opportunity that can be transformed from an environmental tax into a financial economy through carbon investment, which will contribute to financing strategic projects without burdening the state's general budget."

The Oil Minister considered that "this conference represents an important link in the chain of national efforts aimed at building a low-carbon economy, enhancing Iraq's readiness to lead the way in climate leadership mechanisms in line with our commitments to the Paris Climate Agreement, and setting our ambitions to diversify sources of income."

He explained, "Under this agreement, Iraq was committed to reducing emissions by 2% by 2023, but we, the Ministry of Oil, were able to achieve more than this percentage with the first project implemented in Basra Governorate through the implementation of the first phase."

Abdul Ghani continued, "There are projects signed by the Ministry of Oil with several companies aimed at stopping gas flaring. Through these projects being implemented, greenhouse gas emissions will be reduced by more than 23%. This is almost ten times what Iraq committed to at the Paris Conference." LINK

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Clare:  Al-Eidani urges British companies to invest in three areas in Basra

5/21/2025

Basra Governor Asaad Al-Eidani called on British companies on Wednesday to register their businesses in the province, particularly in the water, energy, and infrastructure projects .

Following a meeting with the British Ambassador to Iraq, Irfan Siddiq, Al-Eidani told Shafaq News Agency that "the meeting addressed strengthening the historical relations between the United Kingdom and Iraq, especially Basra Governorate," explaining that "a number of service issues that affect the lives of Basra citizens were discussed, including water, public services, and infrastructure ."

He added, "Basra's environment is now ripe for investment, and we invite British companies to register their businesses in the province and take advantage of the available opportunities, especially given their extensive experience and the trust they have in Basra ."

In turn, the British ambassador told the agency, "This is his first visit to Basra Governorate since assuming his post," expressing his "happiness to visit the city and see its conditions ."

He stressed that "Basra represents the country's economic engine, with many joint projects and initiatives between Britain and Iraq there ."

He added, "We look forward to supporting and following up on these projects, particularly in the water sector, as well as the energy and infrastructure sectors, which are among the priorities and needs of the people of Basra and Iraq in general ."

The ambassador explained that his last visit to Basra was in 2010, and today he noted significant progress in the security situation and stability witnessed in recent years, which encourages British companies to invest in the province and Iraq in general .

In a related development, Al-Eidani discussed with the UAE Ambassador to Iraq, Salem Issa Al-Zaabi, ways to enhance economic and trade cooperation between the province and the UAE, stressing the presence of promising opportunities that can be built upon in the coming period.

Al-Eidani told Shafaq News Agency, "Basra has deep-rooted historical and cultural ties with the Gulf Arab states, most notably the UAE," noting that "there are many commonalities and opportunities that can be leveraged to enhance joint cooperation in a way that serves the interests of both countries and peoples."

For his part, Ambassador Al Zaabi told the agency that he was "very happy with this visit and to see the landmarks and investment opportunities that the governorate offers." He added, "We see great potential for economic, investment, and trade cooperation, and we hope that this visit will mark the beginning of a new phase in relations between the UAE and Iraq, particularly with Basra."  LINK

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Clare:  Minister of Finance: We are working to modernize regulations and enhance transparency and financial discipline.

5/21/2025 - Baghdad

Finance Minister Taif Sami confirmed on Tuesday that the ministry is working to modernize administrative and financial systems and enhance transparency and financial discipline, in line with the priorities of the government program and to consolidate economic stability.

The ministry said in a statement, seen by Al-Eqtisad News, that "Finance Minister Taif Sami received the economic team at the US Embassy in Baghdad to discuss ways of joint cooperation within the FSVC program to enhance economic and financial capabilities in Iraq."

The statement added that "the two sides discussed mechanisms to support the general budget and aspects of technical cooperation between the ministry and the US side in the areas of budget preparation and government accounting, through the program and performance budget implementation mechanism."

The Minister of Finance stressed - according to the statement - "the importance of benefiting from international expertise in supporting ongoing reforms," ​​noting that "the ministry is working to modernize administrative and financial systems, enhance transparency and financial discipline, in line with the priorities of the government program and consolidate economic stability."

The statement continued, "The US team expressed its readiness to provide technical and advisory support, especially in developing tools for preparing program and performance budgets, improving accounting systems, and developing financial information systems."

The statement concluded that "the two parties agreed to continue coordination and organize training workshops for ministry employees in a number of technical specialties, to support the implementation of best practices in public finance management and achieving sustainable development."  LINK

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Clare: Iraq Facing Economic Challenges: IMF's Vision for 2025?

5/21/2025

The International Monetary Fund (IMF) issued a concluding statement on May 15, 2025, addressing the economic situation in Iraq, highlighting the economic challenges facing the country and presenting a roadmap for urgent reforms aimed at achieving financial stability.

Current Economic Challenges: The Iraqi economy faces complex challenges ranging from slowing global growth, Trump's trade wars, accelerating global inflation, and declining oil prices, the primary source of revenue. Expansion in government spending (employment sector) is also widening the fiscal deficit and exacerbating the risk of reliance on oil as the primary source of revenue.

The challenges are not limited to public finances alone, but also include deteriorating infrastructure, a weak private sector, and a lack of investment in non-oil sectors. This is in addition to the fiscal deficit rising to 4.2% of GDP and a significant decline in the current account surplus. This decline is a critical indicator that must be carefully considered, given that the current account is an important indicator of the health of the country's overall economy.

Outlook for 2025: The Fund expects economic growth to remain weak this year, with non-oil GDP slowing to 1%. The current account is also expected to deteriorate further, impacting foreign exchange reserves, which reached $100 billion at the end of 2024, covering more than a month of imports.

The future of the Iraqi economy: The International Monetary Fund believes that the future of the Iraqi economy depends largely on the government's ability to implement structural and financial reforms. Iraq possesses significant potential for economic growth, but realizing this potential requires taking concrete steps to implement a set of reforms proposed by the Fund.

The IMF statement emphasized the importance of cooperation between the Iraqi government and the IMF to implement these proposed reforms, which would contribute to improving the country's economic conditions. In conclusion, the IMF's vision is not merely recommendations, but rather an opportunity to redirect the Iraqi economy toward sustainability through strategic planning and effective implementation of the proposed economic and financial reforms.   LINK

Iraq Economic News And Points To Ponder Wednesday Morning 5-21-25

Iraq Completes An Electronic Project To Monitor The Movement Of Petroleum Derivatives, Reducing Smuggling By 98%.
 
May 20, 2025  Baghdad/Iraq Observer follow-up   The Oil Products Distribution Company, affiliated with the Iraqi Ministry of Oil, has completed a strategic project to electronically monitor tanker movements using a GPRS-based tracking system, as part of a plan to automate the distribution sector and reduce smuggling.
 
The company's media director, Rafid Sadiq, told the Iraq Observer news agency, "The system allows tankers to be tracked from the moment they load fuel until it is unloaded, and provides precise electronic records that can be accessed at any time." 

He noted that  the project has been fully completed, with more than 28,000 government and private tankers now connected to the system.
 
He emphasized that this step represents a qualitative shift in the monitoring and distribution of petroleum products.
 
For his part, the Director General of the Energy Police Directorate, Major General Dhafer Al-Hussaini, explained that
 
"the police, in cooperation with the Ministry of Oil, have begun implementing the new system by installing tracking devices on tankers and linking them to a central operations room." 

He explained that the system enables relevant authorities to
 
     determine the tanker's route, the
     validity of documents, and the
     loading and unloading location,
 
which has helped expedite audit procedures and prevent forgery.   Al-Husseini confirmed that
 
80% of the country's tankers have been fitted with the devices,
10% have completed their procedures and are awaiting their turn, while the
remaining percentage is still in the process of being completed. He emphasized that
 
"no tanker will be allowed to load fuel without the tracking device."  He pointed out that
 
this system has contributed to a 98% reduction in petroleum product smuggling,
and no breaches were recorded in oil pipelines during April.
 
In a related development, Al-Husseini announced that the
 
Energy Police seized 103 vehicles in April,
closed five garages and smuggling sites, and
arrested 103 suspects who were referred to judicial authorities.
 
The total amount of fuel seized and returned to the state amounted to 3 million liters,
with protection provided to seven oil experts.  https://observeriraq.net/العراق-ينجز-مشروعًا-إلكترونيًا-لمراق/   

Iraq And Turkey Prioritize Development Road; New Company With Public Share Offering Considered
 
 Iraq    Jawad  Al-Samarraie     May 18, 2025     190     Mohammed Najjar, Advisor to the Prime Minister and Executive Director of the Iraq Development Fund
 
Baghdad (IraqiNews.com) – The Development Road project has become a top shared priority for Iraq and Turkey,
with innovative implementation models under consideration, Mohammed Al-Najjar, PM’s Investment Advisor and Head of the Iraq Fund for Development, announced Sunday (May 18, 2025).
 
This follows PM Mohammed Shia Al Sudani’s recent high-level visit to Turkey.  Al-Najjar revealed an
 
MoU has been signed between the Iraq Fund for Development and the
Turkish Wealth Fund to kickstart projects along the route.
 
He emphasized Turkish President Erdoğan’s focus on the Iraqi fund’s role.
 
Iraq is exploring a “completely new framework” for the project, targeting 24,000-28,000 km.
 
One approach involves establishing a

state-owned Iraqi company,operating on private sector principles,
to develop the road,
with part of its shares potentially offered for public subscription to citizens.
 
Another option being studied is creating an

independent government authority to manage legal, technical, and customs aspects.
 
These plans aim to
 
      reduce bureaucracy,
     speed up development, and
     solidify Iraq’s role as a key regional economic and transit hub.    
  
https://www.iraqinews.com/iraq/iraq-development-road-new-company-public-shares/  

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

Seeds of Wisdom RV and Economic Updates Wednesday Morning 5-21-25

Good morning Dinar Recaps,

SHARK TANK’S KEVIN O’LEARY SLAMS SENATOR WARREN OVER GENIUS ACT: “UN-AMERICAN AND DANGEROUS”

▪️Kevin O’Leary blasts Elizabeth Warren for politicizing the GENIUS Act, calling her stance “un-American.”
▪️Warren opposes the bill over Trump-linked stablecoin ties and potential corruption loopholes.
▪️Despite the clash, the bipartisan GENIUS Act advances in the Senate, aiming to regulate stablecoins in the U.S.

Shark Tank investor and Canadian businessman Kevin O’Leary is firing back at Senator Elizabeth Warren over her opposition to the GENIUS Act – a bipartisan bill designed to regulate stablecoins in the United States.

O’Leary didn’t hold back, calling Warren’s stance “dangerous” and “un-American,” accusing her of blocking financial innovation by turning the bill into a political weapon against Donald Trump.

O’Leary: Warren Is Politicizing a Vital Crypto Bill

As crypto regulation becomes a bigger part of U.S. policy, O’Leary argues that Warren is distracting from the GENIUS Act’s core purpose. He says the bill is about modernizing the American financial system through properly regulated stablecoins – not about Trump or meme coins.

In a post on X, O’Leary stressed that the bill has nothing to do with Trump and warned that dragging politics into the conversation could hurt the country’s ability to lead in global finance.

According to him, the GENIUS Act is a step toward strengthening the U.S. dollar’s role in digital payments around the world. He believes Warren’s opposition risks slowing innovation and letting countries like China pull ahead in the race for financial dominance.

“This is about establishing the U.S. dollar as the default currency for global price discovery,”
O’Leary said, dismissing Warren’s claims as “completely deranged.”

Warren’s Opposition to the GENIUS Act

Senator Warren opposes the bill, citing its ties to a $2 billion MGX-Binance deal involving USD1, which is a Trump-linked stablecoin.

She cautions that exemptions for senior officials, including the president, could give birth to corruption, claiming the bill risks “greenlighting the grift.”

Warren argues that the bill could allow Trump to regulate his own financial product, undermining transparency and public trust.

GENIUS Act Moves Forward with Bipartisan Support

Despite Warren’s strong pushback, the GENIUS Act recently passed a key Senate hurdle. Several Democrats who were initially skeptical have now supported a revised version of the bill.

The bipartisan support signals growing momentum for establishing clear regulations for stablecoins – something many in the industry believe is essential for the future of digital finance in the U.S.

You can best believe that the debate is not over.

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

SINGAPORE DOLLAR STABLECOIN XSGD DEBUTS ON XRP LEDGER IN RIPPLE-POWERED PAYMENTS PUSH

StraitsX has launched its MAS-regulated stablecoin XSGD on the XRP Ledger to enable faster, low-cost cross-border payments, as part of a broader multi-chain expansion strategy.

The move marks the first phase of a larger partnership with Ripple aimed at building institutional-grade digital infrastructure focused on tokenisation and real-time financial services.

StraitsX Brings Regulated XSGD to XRP Ledger

Payment infrastructure firm StraitsX has added its Singapore dollar-pegged stablecoin, XSGD, to the XRP Ledger (XRPL) in an attempt to extend its regulated token into a faster, low-cost cross-border payment system.

The expansion was announced Monday and is part of the company’s multi-chain strategy to meet growing demand from fintechs, financial platforms, and digital asset developers seeking programmable, real-time transaction tools across borders, according to the press release.

StraitsX framed this as the “first phase” of a wider collaboration with Ripple focused on tokenisation. While details remain vague, the rationale is to build a regulated, institutional-grade digital infrastructure that goes beyond payments.

A Glimpse Into the Future of Finance

The availability of XSGD on the XRP Ledger is more than a deployment. It’s a marker of where financial infrastructure is heading. As digital money becomes embedded in the global economy, regulated stablecoins like XSGD will serve as the foundation for borderless, real-time, and compliant-ready financial services.

Singapore’s Web3 Hub is Expanding

XSGD was issued by StraitsX in 2020, fully backed 1:1 by reserves held with DBS Bank and Standard Chartered. The company is licensed by the Monetary Authority of Singapore (MAS) as a Major Payment Institution, placing XSGD among the few stablecoins with both regulatory oversight and multi-chain deployment.

XSGD has over 8 billion on-chain transactions already, and a circulating supply above 13.6 million tokens. The stablecoin is live on Ethereum, Polygon, Hedera, Zilliqa, Arbitrum, and Avalanche.

@ Newshounds News™
Source:  Crypto News

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

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Thank you Dinar Recaps

“Tidbits From TNT” Wednesday Morning 5-21-2025

TNT:

Tishwash:  The Ministry of Finance is discussing with the World Bank the establishment of a permanent office in Iraq.

On Tuesday, May 20, 2025, Iraqi Finance Minister Taif Sami received a delegation from the European Bank for Reconstruction and Development to discuss joint cooperation, a number of economic and investment issues, and the establishment of a permanent office in Iraq.

 The Ministry of Finance stated in a statement received by Al-Jabal that "the meeting focused on expanding the bank's role in Iraq during the next phase, particularly in the areas of supporting the private sector, financing small and medium-sized enterprises, and providing technical assistance to government agencies, in line with the priorities of the government program to improve the business environment and develop infrastructure."

According to the statement, the two sides discussed "the progress made in the negotiations on the Host Country Agreement, which aims to enable the Bank to establish a permanent office in Iraq, facilitate its mission of providing technical and advisory support, and expand its network of cooperation with local institutions."

 Potential areas of cooperation were also reviewed, including renewable energy, transportation, and modernizing the financial sector, which would contribute to attracting investments and stimulating economic growth.  link

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

IWFG1818:  Continuation of the National Emergency With Respect to the Stabilization of Iraq

https://www.federalregister.gov/documents/2025/05/14/2025-08786/continuation-of-the-national-emergency-with-respect-to-the-stabilization-of-iraq#:~:text=For%20this%20reason%2C%20the%20national,declared%20in%20Executive%20Order%2013303.

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

Tishwash:  Oil Minister: The Iraqi Oil Services Center will transfer well revenues to the state treasury.

 Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul-Ghani Al-Sawad, explained today, Tuesday (May 20, 2025), that the establishment of the Iraqi Center for Oil Services will transfer financial revenues from oil extraction and well drilling to the state treasury instead of going to foreign companies.

Al-Sawad said in a statement to Baghdad Today, "The well-drilling operations require a number of supporting operations that will be under the control of the center, which will save money for the state treasury."

He pointed out that "the center has actually proceeded with updating specialized equipment in a number of oil companies, particularly the Basra Oil Company," explaining that "Basra Oil Company purchased some equipment years ago, and after its arrival in Iraq, the selling companies refused to deliver the software to Iraq. However, the company preserved this equipment, and it has now been updated, and it will enter service as important equipment in the oil sector."

Last Friday, the Oil Minister inaugurated the Iraqi Oil Services Center in Basra Governorate, a move he described as significant in achieving self-sufficiency in vital sectors. This move aligns with the government's directives and decisions within the government program, as well as creating national partnerships with the private sector and relevant entities in the oil industry. link

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

Tishwash:  PM Barzani, US Congressman discuss Erbil-Washington ties

On Wednesday, Kurdish Prime Minister Masrour Barzani discussed strengthening Kurdistan-US ties with Congressman Abe Hamadeh in Washington.

The meeting followed the signing of two energy agreements during Barzani’s visit, aimed at strengthening infrastructure and attracting foreign capital to the Kurdistan Region.

Energy remains a strategic sector for the Region, which continues to pursue independent development amid ongoing disputes with Baghdad over oil revenues and export authority.

Hamadeh, a US lawmaker of Kurdish descent, called the agreements a “positive development” for Iraq’s economy and stressed the importance of sustained engagement between Washington and Erbil.

Barzani then congratulated Hamadeh on his election to Congress, highlighting his support for Kurdish interests in US policymaking.

The Kurdistan Region has previously partnered with the United States in counterterrorism and regional stability initiatives.  link

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

Tishwash:  The Minister of Finance discusses with the Iraqi Economic Council mechanisms to enhance investment opportunities.

Minister of Finance Taif Sami Mohammed received the head of the Iraqi Economic Council and his accompanying delegation. During the meeting, they discussed prospects for cooperation between the two sides, focusing on enhancing investment opportunities and developing economic partnerships.

The Minister stressed, according to a statement by the ministry, the keenness to open effective channels of communication with economic entities and support initiatives aimed at stimulating the investment environment, providing job opportunities, and driving the wheel of development.

Meanwhile, the Iraqi Economic Council called on the Ministry of Finance to support the Economic Investment Conference scheduled to be held in early June, through coordination and providing the necessary facilities for the success of its work.

The two sides stressed the importance of the conference contributing to highlighting investment opportunities in various sectors and attracting capital.

The Council delegation also stressed the importance of the ministry's participation in preparing workshops and discussions related to financial reform and developing the investment environment, as it is a pivotal body in formulating economic policies.  link

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

Mot:   Dangerous game!  

Mot:  In Case Youv'e Been Wondering!!!!! 

Are we Heading into a Systemic Meltdown?

Are we Heading into a Systemic Meltdown?

Kitco News:  5-21-2025

Gold demand just wrapped up its strongest first quarter since 2016, driven by a powerful confluence of factors that suggest investors are hedging against economic uncertainty, geopolitical instability, and the potential erosion of faith in traditional financial systems.

According to the World Gold Council’s latest Gold Demand Trends report, a surge in ETF inflows, relentless central bank buying, and booming retail demand, particularly in Asia, propelled the precious metal even as prices hovered near record highs.

In a recent interview with Kitco News, Joseph Cavatoni, Senior Market Strategist at the World Gold Council, delved into the report’s key findings and their implications. The conversation explored potential drivers ranging from inflation hedging and de-dollarization to growing concerns about systemic market stress.

One of the most significant developments in Q1 was the dramatic reversal in ETF flows. After a period of outflows, gold-backed ETFs saw a remarkable surge in demand, accumulating a net 226 tons – the largest inflow since 2022.

This shift indicates a renewed appetite for physical gold as a safe-haven asset, potentially signaling investor unease amidst ongoing economic volatility.

Central banks continued their buying spree, adding significant quantities of gold to their reserves. China and Poland were particularly active, reflecting a broader trend of countries diversifying their holdings away from traditional reserve currencies.

 This persistent demand from central banks provides a solid foundation for gold prices and highlights the metal’s enduring role as a store of value in a turbulent global landscape.

The robust demand for gold across various sectors suggests investors are increasingly concerned about the potential for fiscal instability and persistent inflation. Gold’s reputation as a hedge against inflation and a safe haven during economic downturns is clearly driving its popularity, as individuals and institutions alike seek to protect their wealth against eroding purchasing power.

Interestingly, the European Central Bank (ECB) recently identified gold as a potential systemic risk, warning of a potential liquidity crisis related to gold-backed assets.

 While seemingly contradictory, this warning could be interpreted as a signal that gold’s growing significance in the global financial system is causing concern among regulators.

The conversation also touched upon the potential impact of U.S. tax reform on institutional gold demand. A more favorable tax environment could further incentivize institutional investors to allocate capital to gold, potentially amplifying the existing demand trends.

The surge in retail demand for gold is evident in unusual market behavior. Even retailers like Costco have reportedly limited gold sales, indicating the intensity of consumer interest in acquiring physical gold. This widespread participation underscores the perception that gold offers a tangible and reliable store of value in a world facing increasing uncertainty.

With all these factors converging to fuel gold demand, the question on everyone’s mind is: how high can gold prices go? While predicting future prices is inherently uncertain, some analysts suggest that the current trajectory could pave the way for gold reaching unprecedented levels, with some even mentioning a potential target of $4,000 per ounce.

The strong performance of gold in Q1 2024 paints a compelling picture of its enduring relevance in the modern financial landscape.

Fueled by a confluence of factors including economic anxieties, geopolitical tensions, and central bank accumulation, gold’s appeal as a safe-haven asset appears to be strengthening. While challenges and volatility are inevitable, the underlying demand drivers suggest that gold will continue to play a crucial role in portfolios seeking diversification and protection in an increasingly uncertain world.

https://youtu.be/kHx35QD0SJo

Seeds of Wisdom RV and Economic Updates Tuesday Evening 5-20-25

Good Evening Dinar Recaps,

Peirce Pushes Back: SEC’s Approach ‘Must Be Corrected’

Unlike Gensler, Peirce recognized the potential of crypto early on, going as far as proposing a safe harbor approach to regulating decentralized assets back in early 2020.

She refined her proposal in 2021 and discussed it once again on Monday. A safe harbor framework would involve acknowledging that some crypto assets may start out as securities but may no longer be classified as such over a period of time.

For instance, tokens issued prior to a network launch for the purpose of funding development of the said network would initially be deemed securities but wouldn’t be subject to securities laws during a pre-determined grace period.

Once the platform is fully functional and its maintenance becomes sufficiently decentralized—and assuming this happens prior to the expiration of the grace period—the network’s token ceases to be a security and can trade freely in secondary markets.

But Peirce’s ideas were stymied by Gensler’s regulation-by-enforcement method, which decimated the industry and turned the SEC into crypto’s primary adversary. And on Monday, she stood in defiance of the former chairman, who once quipped, “Of the nearly 10,000 tokens in the crypto market, I believe the vast majority are securities,” at the 2022 installment of SEC Speaks.

With the newly appointed Chairman Paul Atkins in her corner, Peirce recounted the story of Samuel Whittemore, a hero of the eighteenth-century American Revolution, before tying it to her own revolutionary perspective: unlike Gensler, she believes most crypto assets are not securities.

“The most popular topic of discussion by far in written input and industry meetings has been security status,” Peirce explained. “My short answer to the question, ‘Are crypto assets securities,’ is that most currently existing crypto assets in the market are not.”

She went on to discuss many nuanced legal points, stressing the importance of economic realities and explaining that “the line demarcating transactions covered by the securities laws from those that are not, is still hazy.” She pledged that the SEC will continue its new journey of providing regulatory clarity, instead of wielding the stick of regulation by enforcement.

But by far, the most consequential of her statements was her take on the security status of crypto assets.

The commissioner then ended her speech with a final reference to Whittemore:

“Two hundred and fifty years after Samuel Whittemore made his stand behind the stone wall, I stand here today grateful for the freedom for which he fought,” Peirce said. “I hope that all of us can look up from the minutiae of the securities laws for a moment to celebrate a quarter of a millennium’s fight for freedom.”

@ Newshounds News™
Source:  Bitcoin News

~~~~~~~~~

U.S. LEADS THE WORLD IN BITCOIN OWNERSHIP, NEW REPORT SHOWS

The U.S. leads global Bitcoin ownership and mining, with strong political backing and growing adoption across diverse demographics.

A new report from River reveals that the United States dominates Bitcoin ownership globally, holding about 40% of all available Bitcoin. With 14.3% of its population owning Bitcoin, the U.S. outpaces Europe, Oceania, and Asia combined.

Corporate America also leads in Bitcoin holdings. Thirty-two U.S. public companies, with a combined market cap of $1.26 trillion, hold Bitcoin as a treasury asset. These firms account for 94.8% of all Bitcoin owned by publicly traded companies worldwide. Major holders include:

• Strategy with 569,000 BTC

• U.S. mining companies with 96,000 BTC

• Others with 68,000 BTC

Totaling 733,000 BTC in the U.S., compared to 40,000 BTC held elsewhere.

The U.S. has also emerged as the global leader in Bitcoin mining since China’s ban on Bitcoin mining in 2021. It is now responsible for 38% of all new Bitcoin mined since then.

The U.S. attracts miners due to:

• Stable regulatory environment

• Access to deep and liquid capital markets

• Abundant energy resources

These advantages have helped the U.S. increase its share of the global Bitcoin mining hashrate by over 500% since 2020, solidifying its position as the center of the industry.

Bitcoin is also emerging as America’s preferred reserve asset, overtaking gold.
Over 49.6 million Americans are in favor of holding Bitcoin, compared to 36.7 million who still prefer gold.

The U.S. government’s Bitcoin advantage is now greater than that of gold, where the U.S. accounts for only 29.9% of the world’s central bank gold reserves.

“Because there is a fixed supply of BTC, there is a strategic advantage to being among the first nations to create a strategic bitcoin reserve,”
said the White House on March 7, 2025.

Political support for Bitcoin is surging in the U.S.
Currently:

• 59% of U.S. Senators

• 66% of House Representatives

Openly support pro-Bitcoin policies, signaling a significant shift in political sentiment and greater acceptance of digital assets as a key part of America’s economic future.

The study also reveals:

• Bitcoin ownership is highest among American males aged 31–35 and 41–45

• Ownership rates within these groups range from 3% to 41%

• Politically, individuals identifying as “very liberal” or “neutral” are more likely to own Bitcoin

• However, conservatives still make up a significant portion of holders

@ Newshounds News™
🔗 Source:   Bitcoin Magazine

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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ECB Sounds Alarm on Gold Surge, Fears will Trigger Financial Collapse

ECB Sounds Alarm on Gold Surge, Fears will Trigger Financial Collapse

Daniela Cambone:  5-19-2025

The European Central Bank’s (ECB) concerns surrounding gold might stem from a deeper anxiety than just market volatility. According to Frank Holmes, CEO and Chief Investment Officer at U.S. Global Investors, the ECB’s warnings about the precious metal are fueled by a fear of losing control, a sentiment he argues mirrors their apprehension towards Bitcoin.

In a recent interview with Daniela Cambone on ITM Trading, Holmes posited that both gold and Bitcoin represent a threat to centralized monetary authority.

He explained that these assets, characterized by their decentralized nature and portability, offer individuals a means of storing and transferring wealth outside the direct influence of governments and central banks. This independence, Holmes believes, is what truly unnerves institutions like the ECB.

“The ECB is afraid of gold as much as they are afraid of Bitcoin,” Holmes stated emphatically. He suggests that the ECB’s criticisms of gold are an attempt to discredit its value and influence, ultimately protecting their own position of power.

However, Holmes challenges the narrative of gold as a source of instability. Instead, he argues that the price of gold acts as a valuable indicator of the overall health and stability of the global financial system. In his view, gold doesn’t cause problems, but rather reflects them.

“They’re trying to paint the picture that gold is possibly broken,” Holmes explained. “But what it’s really showing… is that the financial system is broken and gold’s just sounding that alarm.”

This perspective suggests that rising gold prices are not a sign of gold’s inherent volatility, but rather a symptom of underlying issues within the global economy, such as inflation, currency devaluation, and geopolitical uncertainty.

In times of crisis, investors often flock to gold as a safe-haven asset, driving its price higher and highlighting the perceived weaknesses of traditional financial systems.

Looking towards the future, Holmes offers a bold prediction: global monetary trends could propel gold to as high as $6,000 in the coming years.

While this figure may seem ambitious, it reflects Holmes’ belief that the factors driving demand for gold – distrust in central banks, inflationary pressures, and geopolitical risks – are unlikely to abate anytime soon.

Ultimately, Holmes’ perspective encourages a critical examination of the motivations behind central bank pronouncements on gold. Rather than dismissing gold as a relic of the past, he argues it should be viewed as a vital indicator of the health of the financial system and a potential hedge against the uncertainties that lie ahead.

Whether or not his $6,000 prediction materializes, the underlying message remains: the battle for financial control is intensifying, and gold is playing a crucial role in the narrative.

https://youtu.be/yxX6qOJ8HCM

Iraq Economic News And Points To Ponder Tuesday Afternoon 5-20-25

The Minister Of Finance Discusses With The Iraqi Economic Council Mechanisms To Enhance Investment Opportunities

Tuesday, May 20, 2025 | EconomicNumber of readings: 46   Baghdad / NINA / Minister of Finance Taif Sami Mohammed received the head of the Iraqi Economic Council and his accompanying delegation. During the meeting, they discussed prospects for cooperation between the two sides, focusing on enhancing investment opportunities and developing economic partnerships.

The Minister stressed, according to a statement by the ministry, the keenness to open effective channels of communication with economic entities and support initiatives aimed at stimulating the investment environment, providing job opportunities, and driving the wheel of development.

Meanwhile, the Iraqi Economic Council called on the Ministry of Finance to support the Economic Investment Conference scheduled to be held in early June, through coordination and providing the necessary facilities for the success of its work.

The two sides stressed the importance of the conference contributing to highlighting investment opportunities in various sectors and attracting capital.

The Council delegation also stressed the importance of the ministry's participation in preparing workshops and discussions related to financial reform and developing the investment environment, as it is a pivotal body in formulating economic policies. /End https://ninanews.com/Website/News/Details?key=1228117

Investment Authority: Large Companies Are Keen To Enter Iraq

Chairman of the National Investment Commission, Haider Makiya  Money and Business  Economy News – Baghdad   The National Investment Commission confirmed on Tuesday that there is significant interest from major companies in entering Iraq.

Chairman of the National Investment Commission, Haider Makiya, said in a statement reported by the official news agency and seen by Al-Eqtisad News, that "Iraq has witnessed a significant influx of foreign investments over the past two years, exceeding $64 billion."

He explained that "this figure reflects the success of the investment planning that was completed in 2023, and we began to reap its fruits in 2024 and 2025," noting that "most of these investments belong to major companies that operate directly within Iraq."

He added that "the Prime Minister clearly indicated in the House of Representatives the size of these investments, which exceeds $60 to $63 billion."  https://economy-news.net/content.php?id=55652

Fluctuations In The Dollar Exchange Rate In Baghdad

Economy | 05/20/2025   Mawazine News - Baghdad -  The US dollar exchange rate remained volatile against the Iraqi dinar on Tuesday, with the closing of trading on the Al-Kifah Stock Exchange.

The selling price was 143,500 dinars for $100, while the buying price was 141,500 dinars for $100.
Amid the discrepancy between the official and parallel rates, most local markets are experiencing a state of stagnation due to their impact on the US dollar.  https://www.mawazin.net/Details.aspx?jimare=261706

Iraq Praises NATO's Training And Advisory Role

Local | 05/20/2025    Mawazine News – Baghdad  - Deputy Commander of Joint Operations, Lieutenant General Qais Al-Mohammadawi, praised today, Tuesday, the significant role of the NATO mission in Iraq.

The Joint Operations Command said in a statement received by Mawazine News: "Deputy Commander of Joint Operations, Lieutenant General Qais Al-Mohammadawi, received today at the command headquarters, the Commander of the NATO Mission in Iraq, Major General Christoph Hintery, on the occasion of his assumption of his position, succeeding Lieutenant General Lukas Schweizer, whose duties within this mission have ended."

According to the statement, Al-Mohammadawi praised "the role of the former NATO mission commander and what he provided during his presence in Iraq, and his keenness to strengthen the bonds of friendship and cooperation, wishing him success in his new work.

The Deputy Commander of Joint Operations also congratulated the new NATO mission commander on assuming his duties, and on completing his predecessor's path in supporting joint work between Iraq and the NATO mission."

He praised the "significant role of the NATO mission in Iraq," stressing the "importance of developing bilateral relations to serve common interests and enhance the effectiveness of mutual action, particularly in the areas of training, capacity building, developing capabilities, and providing advice to the Iraqi security forces, in accordance with the mission's primary mission."
https://www.mawazin.net/Details.aspx?jimare=261699

A Slight Increase In Gold Prices In Local Markets

Economy |  05/20/2025   Mawazine News – Baghdad  Gold prices witnessed a significant increase in local markets on Tuesday.   Gold prices were as follows: 21-carat mithqal: 655,000 dinars      18-carat mithqal: 560,000 dinars
22-carat mithqal: 686,000 dinars      24-carat mithqal: 748,000 dinars https://www.mawazin.net/Details.aspx?jimare=261698

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

Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 5-20-25

Good Afternoon Dinar Recaps,

JP MORGAN TO ENABLE CLIENTS TO BUY CRYPTO WITHOUT PROVIDING CUSTODY SERVICES

JPMorgan Chase customers will soon be able to purchase cryptocurrencies through the bank, though the institution won’t hold the digital assets itself, according to an announcement from CEO Jamie Dimon. The move represents a significant shift for the banking giant, whose chief executive has previously been openly skeptical about cryptocurrencies.

“We are going to allow you to buy it,” Dimon said at the bank’s annual investor day on Monday. “We’re not going to custody it. We’re going to put it in statements for clients,” according to CNBC.

The announcement marks an evolution in Dimon’s stance, who famously described Bitcoin as “a hyped up fraud, a pet rock” in 2023. Despite his personal reservations, Dimon acknowledged client demand, stating:

“I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy bitcoin.”

Financial institutions increasingly embracing crypto

JP Morgan’s decision follows similar moves by competitors in the financial sector.
Goldman Sachs has already ventured into cryptocurrency offerings, while Morgan Stanley recently announced plans to provide crypto services, with its subsidiary E-TRADE also exploring cryptocurrency offerings.

The brokerage sector has shown interest as well, with Schwab backing institutional crypto trading venue EDX Markets and planning to offer crypto to investors pending regulatory changes. Meanwhile, Robinhood continues to generate significant profits from cryptocurrency trading.

JP Morgan’s decision not to provide custody services raises questions about who will safeguard clients’ digital assets. Until recently, U.S. banks were unable to provide crypto custody due to SAB 121 restrictions.

Despite being a world leader in blockchain development, JP Morgan’s choice to sidestep custody is notable given that other banks such as BNY and Standard Chartered view it as an opportunity.

Custody: Who Will Hold the Keys?

The bank will likely select a custody partner. It will need to choose between:

• Established crypto startups like Coinbase, Anchorage Digital, Paxos, BitGo, or Ripple Custody

• Institutional-founded startups such as Zodia Custody and Komainu (though these lack a strong U.S. footprint)

• Major banks such as BNY

The risk of providing custody is highlighted by the recent losses by Coinbase customers following data theft by customer support operatives that was subsequently used for social engineering.

While crypto startups bring specialized experience, traditional financial institutions like BNY offer substantially larger security budgets. However, competitive dynamics complicate matters, as BNY remains a direct JP Morgan competitor.

@ Newshounds News™
🔗  Source:   Ledger Insights

~~~~~~~~~

BRICS: THE BIGGEST REASON INDIA MAY EVENTUALLY LEAVE THE ALLIANCE

It has been a rather complicated few months for the leading collective of the Global South. Amid ongoing tensions for the BRICS bloc and its members, one key reason is emerging that could lead India to eventually leave the economic alliance entirely.

The country has seen no shortage of reasons to potentially see increased tensions with the group. Its conflict with China has been well documented, although it has been resolved to this point. However, in its place is a new issue that is beginning to fracture its relationship with the group.

BRICS Facing Issue that Could Eventually See India Quit the Collective

The start of the year saw US President Donald Trump once again return to the White House. That has brought with it increased geopolitical tensions, as his protectionist economic policy has threatened several global relationships.

Moreover, it is worse for the BRICS bloc, as he entered the Oval Office and threatened 150% tariffs on the economic alliance.

The reason for his confrontational relationship with the bloc remains its de-dollarization efforts. For the last several years, the bloc has sought to lessen its reliance on the greenback in a major way. Even considering the creation of its own trade currency, the plan flies in the face of Trump’s efforts to ensure the dollar's status.

In that pursuit, the BRICS bloc may have found the one way that India could eventually leave the alliance.

@ Newshounds News™
🔗  Source:  Watcher Guru

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