“Tidbits From TNT” Saturday Morning 5-24-2025

TNT:

Tishwash:  this was in Iraq's news

Indonesia launches economic stimulus package to boost consumption

Indonesia's Coordinating Ministry of Economic Affairs announced that the country intends to announce an economic stimulus package on June 5 to stimulate economic activity and boost consumer purchasing power.

This package comes with the hope of raising the economic growth rate to about 5% during this quarter.

Encouraging growth through increased consumption

Indonesia's Chief Economic Minister, Airlangga Hartarto, stated in a statement that these programs are designed to encourage growth through increased consumption, adding that launching this package before the school holidays, which begin in late June, will provide impetus to boost purchasing power.

The weakest growth rate in more than three years

Southeast Asia's largest economy grew by 4.87% in the first quarter of 2025 compared to the same period last year, its weakest growth rate in more than three years. The central bank lowered its growth forecast for 2025 to between 4.6% and 5.4% from a range of 4.7% and 5.5%.

Package size evaluation

A ministry spokesperson said the ministry is still assessing the size of the stimulus package, which aims to boost growth in the second and third quarters. 

The incentives include a 50% discount on electricity bills for approximately 79.3 million households and the distribution of food aid to 18.3 million low-income households during June and July. The government also plans to provide cash transfers to low-income workers and a discount on industrial accident insurance for workers in labor-intensive industries.

To encourage tourism, the government announced discounts on airfare, train, and ferry tickets during the school holidays, which run until mid-July, and discounts on highway tolls for 110 million users during June and July, according to the ministry.  link   

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Tishwash”  Masrour Barzani invites the US Secretary of State to visit Erbil.

 Kurdistan Regional Government Prime Minister Masrour Barzani announced on Friday evening that he had extended an official invitation to US Secretary of State Marco Rubio to visit Erbil.

This came in press statements following his meeting with Rubio in the US capital, where he affirmed that his meeting with the US Secretary of State was "successful," noting that he "extended an official invitation to him to visit the region."

"We discussed with Rubio the latest developments in the region," Barzani said.

 This meeting comes as part of Masrour Barzani's official visit to Washington, which includes a series of meetings with US administration and congressional officials to strengthen bilateral relations and discuss regional issues of common interest.  link

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Tishwash:  Iraq and the Season of Absolute Powers: No Oversight or Budget... A "Political Emergency" Paralyzes the State

 Hopes for the passage of the 2025 budget in Iraq are gradually fading, amid a political landscape marked by legislative stagnation, a nearly paralyzed parliament, and a government seemingly more preoccupied with managing political balances than fulfilling constitutional and financial obligations.

In this context, Member of Parliament Jawad Al-Yasari affirmed on Friday (May 23, 2025) that next year's budget schedules "have become a thing of the past," indicating the impossibility of passing it at the present time.

Absent parliament... no prospect of holding sessions

In a statement to Baghdad Today, the leftist said, "The Iraqi government has no real seriousness in sending the 2025 budget schedules, and even if it did send them—which is unlikely—it would be impossible to pass them in light of a paralyzed parliament, with no sessions, no quorum, and no deputies."

He pointed out that holding parliamentary sessions "has become extremely difficult, due to the preoccupation of blocs, parties, and even MPs themselves with election campaigns and ongoing preparations for the general elections. This means that the new budget schedules will not be discussed or approved, and the Ministry of Finance will continue to work with the remaining 2023 and 2024 budget schedules."

A government in a political impasse

These statements highlight a deeper dilemma facing the Iraqi government, which had pledged at the beginning of this year to submit the budget schedules before the end of the first quarter, according to statements made by Cabinet spokesman Bassem Al-Awadi. However, the passage of months without submitting the schedules reflects either a delay in the government's ability to formulate them within the timeframe, or political considerations preventing their passage amid a tense and unstable parliament.

Finance between reality and maneuver

According to sources from the Ministry of Finance, government spending will not cease in the absence of 2025 budgets, as the provisions of Article (13) of Financial Management Law No. 6 of 2019 allow reliance on previous years' budgets to cover basic current expenditures, most notably salaries, social support, and temporary employment. However, the absence of a budget effectively freezes investment spending, halts new projects, and disrupts the work of ministries and governorates.

The political impasse... when the state is frozen by an unannounced decision

The absence of financial tables is not merely a procedural flaw; it reflects a complex, deeply rooted political crisis. The paralysis of parliament due to electoral polarization and the lack of coordination between the government and the House of Representatives reveal that Iraq's constitutional institutions operate not according to the state's rhythm, but rather according to the rhythm of alliances. This makes major decisions, such as the budget, a direct victim of any political confusion.

In this context, observers believe that the elections have transformed into something resembling a "political state of emergency," in which the state is temporarily frozen, legislation and oversight are halted, projects are suspended, and decisions are postponed. In the absence of an effective parliament, the executive branch is left without institutional balance, opening the door wide open to the expansion of powers in the hands of the executive branch.

Indeed, some warn that repeating this model reinforces the logic of a temporary state—a state run by momentary orders, instructions, and assessments, rather than annual budgets and plans.

The economy is in a state of anticipation... neither recession nor growth

Economically, the absence of a 2025 budget schedule pushes Iraq into a gray zone: not a state of collapse, but also not one of stable growth. Salaries are being paid, and current expenditures are proceeding, but there is no clear economic horizon, no approved spending priorities, and no transparent investment map. This leaves the private sector in a state of "waiting freeze," unable to make expansionary decisions amid the ambiguity of public policies.

Stalled projects are likely to accumulate, domestic and foreign debts lack legislative cover for settlement, and promised development plans are stuck in the drawers of ministerial committees. In the governorates, project implementation is contingent on central allocations that never materialize, and some are managed through primitive "transfers" that reproduce local financial chaos.

Economists agree that the continuation of this pattern deprives the budget of its most important political and economic functions: setting priorities, controlling the deficit, stimulating growth, and distributing wealth fairly.

Management crisis or system crisis?

The absence of budget schedules for next year cannot be reduced to the scene of an absent parliament. Rather, it reflects a structural flaw in the relationship between the authorities, where planning and development priorities are being undermined by political rivalries and electoral gains. While the government continues to spend according to outdated schedules, infrastructure projects, administrative reform, and social service programs remain suspended on the ropes of lost time. link

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Mot:  . I Knew It - It Can't Be Me!!! 

Mot:  . Don't Need a Burglar Alarm!!!

This Is Legalized Counterfeiting’: Why Inflation Is Theft by Design | Tom DiLorenzo

This Is Legalized Counterfeiting’: Why Inflation Is Theft by Design | Tom DiLorenzo

Kitco News:  5-23-2025

Tom DiLorenzo, President of the Mises Institute and one of the fiercest critics of central banking in America, joins Jeremy Szafron to break down the crisis unfolding in real time.

From inflation and endless war to collapsing trust in the dollar, DiLorenzo explains how the Federal Reserve enables unconstitutional government expansion - and why he calls it "legalized counterfeiting" and "Marxist by design."

Key Topics:

 -The Trump-backed tax-and-spending bill and the $4 trillion deficit spike

-Why the 30-year Treasury yield breaking 5.1% signals a trust crisis

-How central banking fuels war, surveillance, and authoritarianism

-The Fed's origins, failures, and the path to abolishing it

-Gold at $3,300 and Bitcoin at $111,000 — is this the end of fiat?

-Why DiLorenzo says "The Constitution is dead — the Fed killed it"

 -What Gen Z is learning from Austrian economics and sound money

Follow

00:00 Introduction

01:59 The Federal Reserve's Role in Economic Instability

 03:30 Historical Context and Critique of Central Banking

 05:57 The Impact of Military Spending and Government Debt

16:56 Sound Money and Competing Currencies

25:44 The Origin of 'Dixie' Currency

26:14 The Demise of Competing Currencies

26:49 Bitcoin vs. Gold: The Future of Sound Money

28:19 The History of Central Banks in America

 29:57 The Role of Central Banking in Government Power

39:34 The Potential Collapse of the Dollar

 41:03 The Path to Ending the Federal Reserve

45:49 The Rise of Austrian Economics Among Youth

48:21 Conclusion

https://www.youtube.com/watch?v=df2cO7fj1t4

MilitiaMan and Crew: Iraq Dinar Update-Delete Zeros Project- CBI--Stakeholders-Banking Digitization-Banking System-Global

MilitiaMan and Crew:  Iraq Dinar Update-Delete Zeros Project- CBI--Stakeholders-Banking Digitization-Banking System-Global

5-23-2025

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=yCcs9gNvvmg

Seeds of Wisdom RV and Economic Updates Friday Afternoon 5-23-25

Good Afternoon Dinar Recaps,

Crypto perp futures coming ‘very soon,’ says CFTC’s Mersinger

CFTC Commissioner Hints at Major Breakthrough for U.S. Crypto Derivatives Market

Summer Mersinger, outgoing Commissioner of the Commodities and Futures Trading Commission (CFTC), has confirmed that crypto perpetual futures contracts may soon be live and regulated in the United States.

“We’re seeing some applications, and I believe we’ll see some of those products trading live very soon,” Mersinger said in a May 22 interview with Bloomberg TV.

What Are Perpetual Futures?

• Crypto perpetual futures are derivatives that allow traders to speculate on asset prices without owning the actual cryptocurrencies.

• Unlike traditional futures, perpetuals have no expiration date and are typically traded with high leverage.

• Currently, they are banned in the U.S. and are mostly traded on offshore platforms like:

• Binance (~$95B/day in trading volume)

• OKX

• Bybit

Bringing Trading Back Onshore

Mersinger emphasized that enabling these products in the U.S. would:

• Benefit the crypto industry broadly

• Promote market transparency

• Make the U.S. a hub for regulated crypto derivatives

“It would be great to get that trading back onshore in the United States,” she added.

Mersinger’s Next Move: Blockchain Association

• Mersinger will step down from the CFTC at the end of May.

• She will become CEO of the Blockchain Association on June 2, replacing Kristin Smith.

• The association has over 100 member organizations representing the broader crypto economy.

“We have a strong incoming chairman at the CFTC who will be a real advocate for the industry,” she noted.

GENIUS Act Vote Signals Momentum

• Mersinger also referenced the procedural advancement of the GENIUS stablecoin bill, calling it a sign that:

“This asset class is clearly here to stay.”

• She believes this momentum will help establish the U.S. as a global economic leader in digital assets.

🧠 Takeaway: With perpetual futures likely heading stateside and Mersinger stepping into a prominent advocacy role, the U.S. crypto derivatives landscape may be poised for a major regulatory evolution.

@ Newshounds News™
Source:  Cointelegraph

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BRICS: DEMAND FOR US DOLLAR GROWS IN OIL PAYMENTS, LOCAL CURRENCY DIPS

BRICS De-Dollarization Strategy Backfires in Nigeria

The BRICS alliance's push to replace the US dollar with local currencies in oil transactions has hit a major setback.

In October, Nigeria adopted the BRICS-inspired policy, announcing that oil refiners must accept the Nigerian naira instead of USD to boost the national currency.

• Oil companies complied initially.

• But the naira quickly depreciated, inflicting heavy losses on refiners.

• Dissatisfaction spread as unions and industry lobbies pressured the government to reverse course.

Nigeria is now paying a steep price for ditching the US dollar in favor of the naira for oil payments.

Refiners Push to Return to the Dollar

Despite BRICS’ call to de-dollarize oil settlements, market forces tell a different story:

• The US dollar is regaining demand in Nigeria’s oil sector.

• Refiners are actively seeking to return to USD payments to preserve profit margins.

“The naira’s depreciation was driven by demand-side concerns, with individuals and businesses rushing to buy dollars,” reported NairaMetrics.

Implications for BRICS and Global Oil Markets

• The US dollar remains entrenched in the oil and gas industry.

• Attempts to eliminate it without proper coordination can destabilize local economies.

• The BRICS agenda of local currency usage could face similar backlash in other member or allied nations.

“The greenback is a strong force in the energy sector and upending it will only end up hurting your arm.”

🧠 Takeaway: Nigeria’s failed attempt at local currency oil payments highlights the dominance of the USD in global energy markets. The BRICS de-dollarization dream may be hitting the harsh reality of economic fundamentals and market resistance.

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

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“Tidbits From TNT” Friday 5-23-2025

TNT:

Tishwash:  The Governor of the Central Bank receives a delegation from the European Bank for Reconstruction and Development (EBRD)

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received a delegation from the European Bank for Reconstruction and Development (EBRD) in Baghdad.

The meeting discussed the measures required to commence their work in Iraq next September, following the completion of Iraq's accession procedures to the European Union bank.

During the meeting, His Excellency the Governor reviewed the progress of the ongoing financial and banking reform plans and the role of the Central Bank in achieving monetary stability, maintaining the stability of the general price level, and controlling inflation.

He also reviewed the procedures for transitioning to digital banking and employing modern financial technologies to provide financial and banking services.

The meeting discussed the role of the Central Bank of Iraq in supporting economic growth through its financing initiatives for economic sectors.
For its part, the European Bank delegation expressed its readiness to provide technical support and financing for the restoration and modernization of infrastructure, the transition to a green economy, and supporting the private sector to play its role in the growth of the Iraqi economy.

Central Bank of Iraq
Media Office
May 22, 2025  link

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A dinner was held in Washington in the presence of Trump's senior advisor to welcome the Prime Minister of the Kurdistan Regional Government.

An official dinner was held last Thursday evening, Washington time, to welcome Kurdistan Regional Government Prime Minister Masrour Barzani's visit to the United States. Masad Boulos, senior advisor to US President Donald Trump, was also present.

A statement issued by the regional government stated that during the banquet held in Washington, which was also attended by a group of prominent American figures, Paul warmly welcomed the regional government's prime minister, describing his current visit to the United States as "very successful."

In his remarks, the US President's Advisor also stressed the critical importance of strengthening and consolidating the foundations of the strategic relationship between the Kurdistan Region and the United States, according to the statement.

In a speech on this occasion, the Prime Minister, according to the statement, expressed his "profound thanks and appreciation" to the hosts for their warm welcome and generous hospitality, stressing that "the Kurdistan Region is proud of the close cooperation, continuous support, and deep friendship that binds it to the United States."

He continued, "We look forward to further developing our bilateral relations in various fields and at all levels, in a way that serves the common interests of both sides." link

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Tishwash:  Among them is Iraq.. Iran proposes forming an economic development group consisting of eight countries.

Iranian Ambassador to Saudi Arabia Ali Reza Enayati proposed establishing an economic development group comprising the Gulf states, his country, and Iraq, according to a report published by the semi-official Iranian Mehr News Agency on Friday.

In a speech delivered at the provincial diplomatic forum in Shiraz, Enayati said, "In addition to political relations, there must be public communication in various economic, tourism, and trade fields."

He added, "The security outlook is shifting from a geopolitical orientation to one of development," adding, "This shift in vision may take time, but we are clearly seeing it in the countries of the Persian Gulf region, and this shift has provided an important opportunity for the Islamic Republic of Iran."

Enayati continued, saying, "Iran and Iraq are located to the north of the Persian Gulf, and to the south of it are six countries. These eight countries can form a single group to develop economic cooperation."

He pointed to the importance of the corridors and Iran's strategic location, noting that "the Iran corridor represents the ideal advantage for Iran, and we can take advantage of this opportunity and transform it into a general economic route for the countries of the region that are now thinking about development." link

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Tishwash:  Sudani: We have made significant progress in economic reform, and investments have reached $88 billion.

Prime Minister Mohammed Shia al-Sudani affirmed on Thursday that we have made significant progress in economic reform, with investments reaching $88 billion. Meanwhile, foreign companies have expressed their willingness to contribute to building a green economy, accessing clean fuels, and cooperating in transferring expertise to specialized personnel in Iraq .

Al-Sudani's office stated in a statement received by Mail that "Prime Minister Mohammed Shia al-Sudani received, today, Thursday, representatives of international companies participating in the International Conference on Carbon Economics, which was held over the past two days in the capital, Baghdad, in the presence of the Minister of Environment ."

The statement continued, "Al-Sudani congratulated the convening of the Carbon Economics Conference, the first of its kind in Iraq, and the resulting outcomes and ideas that support the government's efforts to invest in this field, in light of the climate challenges facing Iraq ."

Al-Sudani stressed that "the government has made significant progress in economic and financial reform and in creating an attractive environment for investors and global companies, with investments reaching approximately $88 billion ."

He added, "Iraq is rapidly moving toward a transition to clean and renewable energy, embodied by the government's establishment of the Carbon Economics Company, which has been granted the authority to contract with international companies to advance this new reality." He directed the Ministry of Environment and the Carbon Economics Company to "simplify procedures and move toward signing partnership contracts with companies, and move toward concrete action ."

For their part, company representatives expressed their interest in participating in the conference, stating that they were "there because of the developments Iraq has witnessed over the past two years, and that they will sign contracts and memoranda of understanding with Carbon Economics ."

They expressed their willingness to "contribute to building a green economy, accessing clean fuels, and cooperating in transferring expertise to specialized personnel in Iraq link

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Mot: . these ""Marital Things"" Goooo on and On and

Mot:  Its Time!!!!  

Iraq Economic News And Points To Ponder Friday Morning 5-23-25

The Dollar Is Declining In Iraq. The Reasons Start With The Citizen's Pocket.
 
May 22, Information / Baghdad.. The Iraqi foreign exchange market has recently witnessed a significant decline in the dollar exchange rate, due to a combination of economic and social factors that have directly impacted demand in the parallel market.
 
Iraqi traders have begun to delay imports, driven by expectations that global prices may decline as a result of the decline in oil prices.

This has made many of them refrain from entering into large-scale commercial commitments until the economic picture becomes clearer. https://aja.ws/gh1ewq.
 
In the same context, Iraqi families have begun adopting a more cautious economic approach,
rationalizing spending and reducing consumption in anticipation of any unexpected financial developments that could impact their livelihood stability.
 
This new social behavior has also contributed to reducing demand for goods,
thereby reducing the need for hard currency.
 
In addition, government measures have played a significant role in narrowing the gap between the official and parallel dollar rates,
by expanding the network of banks that provide dollars at the official rate and facilitating import procedures in accordance with regulatory frameworks.
 
This has contributed to reducing reliance on the informal market,
especially after large shopping centers (hypermarkets) began to spread,
relying on imports according to official prices,
which provided consumers with reliable and stable alternatives https://www.ina.iq/229009--.html.
 
In this context, economic expert Safwan Qusay confirmed to Al-Maalouma News Agency that
the decline in demand from Iraqis, particularly traders,
is due to expectations of a decline in global prices due to the decline in oil prices,
which has prompted them to postpone import operations.
 
He explained that there is a near-state of hesitation regarding the import of various goods, and that
Iraqi families have begun adopting a more rational spending policy in anticipation of any future economic developments. He noted that
 
this behavior has directly contributed to reducing demand for the dollar in the informal market. Qusay added that
 
     government efforts to expand access to the official dollar exchange rate through a network of banks,
     traders' familiarity with the mechanism for importing at the official rate, and the
     proliferation of major shopping malls that import goods at the official rate
 
have all contributed to the decline in the dollar exchange rate on the parallel market. He explained that
 
these measures represent important steps towards achieving relative stability in the exchange market
and reducing the gap between the official and parallel rates,
which enhances confidence in monetary policy and the local economy https://alssaa.com/post/show/34076.

This decline in the dollar exchange rate is a positive indicator of the
effectiveness of current economic and monetary policies and
reflects a growing degree of economic awareness among citizens and traders alike.
 
If these factors continue to combine, the market is expected to witness greater stability in exchange rates in the coming period, which will enhance confidence in the national economy and support financial reform  efforts in Iraq   https://almaalomah.me/news/99427/economy/الدولار-يتراجع-في-العراق-الأسباب-تبدأ-من-جيب-المواطن   

Minister Of Finance: We Are Working To Modernize Systems And Enhance Transparency And Financial Discipline
 
Economy     May 20, 2025, 9:14 PM  Baghdad – INA  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 received by the Iraqi News Agency (INA):
 
"Minister of Finance 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 mechanism for implementing the program and performance budget." 

According to the statement, the Minister of Finance stressed "the importance of leveraging international expertise to support 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 American team expressed its willingness to
 
     provide technical and advisory support, particularly in
     developing tools for preparing program and performance budgets,
     improving accounting systems, and
     developing financial information systems." The statement concluded by saying,
 
"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."    https://www.ina.iq/234695--.html 

Foreign Minister: Iraq Is Witnessing An Influx Of Domestic Foreign Investments Estimated At $87 Billion 

Economy  May 19, 2025, Tehran – INA  Foreign Minister Fuad Hussein confirmed on Monday that  Iraq is currently witnessing an influx of domestic foreign investments estimated at $87 billion, while noting that Iraq is playing an active role in bringing the views of opposing countries closer together.
 
In a speech during his participation in the "Tehran Dialogue Forum" organized by the Iranian Ministry of Foreign Affairs, Hussein said, as received by the Iraqi News Agency (INA):
 
"The transformations taking place in Syria are an internal affair that concerns the Syrian people alone," 
stressing "Iraq's respect for the will of the Syrian people."  

He pointed to the "existing security interdependence between Iraq and Syria," expressing his hope that 
"Syria will emerge from the cycle of fighting and sanctions toward a better future."

 He stated that  "stabilization in the region can only be achieved through a comprehensive political process that includes all components of the Syrian people," calling for "the
 
necessity of adopting dialogue as a means of resolving conflicts."

Regarding Iraq's role in the regional scene, the Minister emphasized that
 
"Iraqi foreign policy is based on the principle of dialogue and communication," noting
 
"the effective role Iraq has played in bringing the views of opposing countries closer together."
 
Regarding the recent Arab Summit hosted by Baghdad, the Minister explained that
 
"Iraq is dealing realistically with the challenges facing the Arab world, as
several countries are experiencing internal conflicts and wars."

He emphasized that "Iraq, through its current presidency of the Arab Summit,
has taken it upon itself to play the role of mediator and propose future mechanisms for crisis management."

 He noted "there is an intention to launch initiatives in Yemen, Sudan, Libya, and other countries experiencing crises," explaining that
 
"security is the foundation of development, and  development cannot be achieved without stability."

He explained that "the leaders' presence in Baghdad during the summit sent a clear message about the
stability of the situation in Iraq and the success of its development path."
 
On the economic front, Hussein reviewed the Iraqi government's plans to diversify the economy, noting that
 
Iraq has begun investing in natural gas and expects to reach full domestic gas production by 2028. He explained that
 
the government is moving toward
 
     developing the petrochemical sector,
     activating tourism, particularly religious tourism, and
     supporting the agricultural sector. He noted that
 
Iraq is currently witnessing an influx of domestic foreign investment estimated at $87 billion,
reflecting growing international confidence in the Iraqi economy.   https://www.ina.iq/234593--87-.html   

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

Seeds of Wisdom RV and Economic Updates Friday Morning 5-23-25

Good Morning Dinar Recaps

XRP LEDGER SHARPENS COMPETITIVE EDGE WITH FRESH STABLECOIN ADDITIONS OF EURØP, USDB, AND XSGD

The XRP Ledger (XRPL) just made a major leap forward in the global stablecoin race, with three new fiat-backed stablecoins—EURØP, USDB, and XSGD—joining its ecosystem this week.

This marks a significant expansion of XRPL’s role as a preferred blockchain for cross-border financial transactions and fintech innovation, thanks to its low fees, fast finality, regulatory readiness, and native real-world asset support.

1. EURØP: MiCA-Compliant Euro Stablecoin

On May 22, EURØP, issued by Schuman Financial, became the first MiCA-regulated euro stablecoin on XRPL.

• Fully backed by reserves held at top-tier European banks.

• Audited by KPMG.

• Issuer licensed by France’s ACPR (Banque de France).

“This will give Europe and euro-denominated financial markets an integral infrastructure for the next wave of financial innovation, which is happening on-chain,” said Martin Bruncko, CEO of Schuman Financial.

2. USDB: New USD Option for Brazil

Also on May 22, Brazilian fintech Braza Group launched USDB, a USD-backed stablecoin on XRPL, adding to its earlier BBRL token.

• Braza CEO Marcelo Sacomori sees USDB as a hedge for Brazilians against local currency volatility.

• Projected to reach 30% market share of Brazil’s USD-pegged stablecoin segment by end of 2026.

“New pathways for global currency settlement” will drive the token’s adoption, said Sacomori.

3. XSGD: Singapore’s Stablecoin Comes to XRPL

XSGD, backed 1:1 with reserves at DBS Bank and Standard Chartered, officially launched on May 19.

Issued by StraitsX, a key digital payments provider in Southeast Asia, XSGD is aimed at:

• Financial institutions,

• Startups, and

• Developers seeking fast, low-cost, compliant-ready digital transactions.

“Regulated stablecoins like XSGD will serve as the foundation for borderless, real-time financial services,” said Liu Tianwei, Co-Founder and Deputy CEO of StraitsX.

📈 A Growing Stablecoin Hub

The XRP Ledger is rapidly positioning itself as a stablecoin hub, now offering options for euro (EURØP), U.S. dollar (USDB), and Singapore dollar (XSGD) transactions—each backed by fully regulated, real-world banking infrastructure.

@ Newshounds News™
Source:  CryptoSlate

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BRICS NEWS: MAJOR UPDATE ON TEN-YEAR DE-DOLLARIZATION PLAN

Amid rising global tensions and economic uncertainty, the BRICS alliance has issued a surprising update on its decade-long de-dollarization strategy, signaling a potential shift in tone and expectation for the US dollar's global role.

Background: BRICS vs. the Dollar

• The BRICS bloc (Brazil, Russia, India, China, South Africa) has spent the last few years pushing to reduce global reliance on the US dollar, aiming to launch its own trade currency.

• This effort has faced intensifying pressure in 2025 as US President Donald Trump, now in his second term, responded with 150% tariffs on BRICS nations, citing their anti-dollar efforts.

New Outlook: Dollar May Stay on Top

Despite the hostile rhetoric and early-year momentum toward dollar alternatives, Brazil, which holds the 2025 BRICS chairmanship, has made a startling admission:

“There is no realistic prospect of any currency overtaking the US dollar’s dominance over the next decade,” said Nilton David, Brazil’s Monetary Policy Director.

• This represents a major pivot from Brazil’s previous stance as a vocal proponent of full-scale de-dollarization.

• David acknowledged only a small chance of meaningful change in USD dominance by 2035.

Key Takeaways

• BRICS is not abandoning the de-dollarization agenda, but it's tempering expectations.

• The US dollar is still under threat from global dissatisfaction, but full replacement appears unlikely in the near future.

• This could signal a strategic shift: instead of dethroning the dollar, BRICS may now focus on creating a competitive alternative for trade and finance.

The Road Ahead

The "America First" and protectionist policies of the Trump administration have contributed to falling confidence in the greenback, yet they have not yet accelerated BRICS’ efforts to build an immediate replacement.

💬 The question now: Will BRICS build a viable alternative to compete, even if not to replace the US dollar?

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Thank you Dinar Recaps

MilitiaMan and Crew: Iraq Dinar News Update-Confidence-Stability-Exchange Rate-Purchasing Power-Cyber Security-Media

MilitiaMan and Crew:  Iraq Dinar News Update-Confidence-Stability-Exchange Rate-Purchasing Power-Cyber Security-Media

5-22-2025

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=iymce2o9XaM

Iraq Economic News And Points To Ponder Thursday Afternoon 5-22-25

Central Bank: A Comprehensive Five-Pronged Plan To Combat Money Laundering

Banks  Economy News – Baghdad  The Central Bank announced on Thursday that it has put in place preventative measures to combat money laundering across various sectors, while noting that there is international cooperation at the strategic level involving international organizations.

Hussein Ali, Deputy Director General of the Central Bank's Anti-Money Laundering and Combating the Financing of Terrorism Office, said, "The crime of money laundering is linked to the extent of the predicate crime being committed domestically, as well as to the extent of preventative measures taken by the state."

He explained that, "Based on a comprehensive assessment of the anti-money laundering and counter-terrorism financing system, weaknesses in this system were identified, where they are being exploited, which sectors are being exploited in money laundering, and which predicate crimes are most commonly committed."

He added, "After identifying these crimes and the points where money laundering occurs, mitigating measures were put in place to address the risks of money laundering through these sectors."

He continued, "Easing measures have been put in place in the real estate sector, with real estate sales being conducted through the banking sector. Special measures have also been put in place in the gold sector, with financial institutions enforcing stricter controls on gold transfers."

He pointed out that "electronic cards, which were exploited by some unscrupulous individuals for foreign withdrawals, were used to benefit from the exchange rate or to move illegal funds. This phenomenon has been curbed and mitigated by establishing controls and updating the limits on these cards so that they are no longer useful to those who make foreign withdrawals."

He emphasized that "all these treatments are based on a real evaluation process with very precise results, which helped ensure that the treatments were specific and focused."

He noted that "the Anti-Money Laundering Law addresses all these sectors, and there are international and national studies that identify new trends pursued by money launderers. Every time a new method is added, countries implement preventative measures for it."

He explained that "one of the methods also includes registering fake companies, and there are procedures in place for this in cooperation with the Companies Registration Department, including the process of identifying the real beneficiary of these companies, which is a very important matter to prevent the use of front companies for these companies."

He pointed out that "the Iraqi state took appropriate measures, and even when it was evaluated by the Financial Action Task Force, the evaluation result regarding the beneficial owner issue was appropriate for Iraq's situation."

He pointed out that "all measures taken are based on a risk-based approach, so that when there are risks, measures are taken to address them, while private transactions involving citizens are not complicated."

He emphasized that "all countries in the world cooperate in the field of combating money laundering through multiple channels, and in the Anti-Money Laundering Office we have counterpart offices called counterpart units."

He explained that "information is exchanged with these units without any conditions, and without the involvement of diplomatic bodies such as the Ministry of Foreign Affairs or the intelligence service."

He stated that "there is international cooperation at the strategic level through reports and through our participation in relevant international organizations," noting that "regarding our work, we conduct an investigation, and after completing the file, it is referred to the judiciary, and we say that this person carried out a money laundering operation, and took out the funds of such-and-such state, and this money reached such-and-such a value, and is present in such-and-such accounts, and after that, there is official judicial cooperation from one judiciary to another for the purpose of seizing and confiscating the funds."  https://economy-news.net/content.php?id=55722

The Association Of Private Banks Holds A Specialized Workshop On "Control Guidelines For Internal Assessment Of Capital Adequacy Standards"

Advisor to the Association of Banks, Samir Al-Nusairi  Banks  Economy News – Baghdad  The Iraqi Private Banks Association held a specialized workshop on the subject of regulatory controls for the internal assessment of capital adequacy standards.

The seminar hosted representatives of the Central Bank, including the relevant managers of the Banking Supervision Department at the Central Bank, and was attended by representatives of all commercial and Islamic banks, including the directors of risk, compliance, credit, internal and financial audit, and members of the boards of directors who are members of the Risk Committee.

The workshop was moderated by the Association of Banks' advisor, Samir Al-Nusairi, who spoke about the objectives of regulatory standards for capital adequacy in accordance with the requirements of the Basel Committee's second pillar to secure a capital buffer to mitigate risks. He emphasized the need to strengthen and improve corporate governance in banks based on the Environmental and Social Standards Guide issued in 2024.

He pointed out that the comprehensive banking reform project, which the Central Bank is working to implement in cooperation with the global consulting firm Oliver Wyman, is sponsored and supported by the government.

Central Bank representatives Ali Abdul Aziz and Hussein Reda spoke about the details of the regulations and tasks required of banks, as well as the procedures and timelines required to implement the regulations over the coming year.

The attendees discussed the regulations and observations that required clarification and answers from the Central Bank. These were answered by Central Bank representatives. At the conclusion of the workshop, it was decided to form a permanent joint working group between the Central Bank and the banks to follow up on implementation and address any obstacles that may hinder implementation.

Specialized workshops and training courses will also be held for relevant leadership cadres on the boards of directors and executive management at banks to ensure accurate implementation and application of the regulations.   https://economy-news.net/content.php?id=55727

Rafidain: Extension Of The Period For The Sale Of National Bonds - The Third Issue

Economy | 05:40 - 05/22/2025  Mawazine News – Baghdad Rafidain Bank announced today, Thursday, the extension of the sale period of the third national bond issue until June 3, 2025, in response to the growing demand from citizens for this type of financial instrument, and in accordance with the directives of the Ministry of Finance and the Central Bank of Iraq.

The bank explained in an official statement that this extension comes within the framework of supporting the culture of national savings and encouraging safe investment, in addition to contributing to financing economic development projects within the country.

The statement indicated that two types of bonds are available to investors:

• First bond:
• Nominal value: 500,000 Iraqi dinars
• Annual interest: 8%
• Investment period: two years
• Payment mechanism: Interest paid semi-annually

• Second bond:
• Nominal value: 1,000,000 Iraqi dinars
• Annual interest: 10%
• Investment period: four years
• Payment mechanism: Interest paid semi-annually

The bank called on citizens wishing to invest their savings in guaranteed instruments with a fixed return to visit the nearest Rafidain Bank branch to take advantage of the available opportunity before the specified period ends.   https://www.mawazin.net/Details.aspx?jimare=261796

The Prime Minister Announces The Launch Of The National Security Strategy (2025-2030)

Thursday, May 22, 2025 15:07 | Umniah Number of reads: 347   Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani announced the launch of the National Security Strategy (2025-2030).

According to a statement by his media office, Al-Sudani congratulated the national elite who were appointed from all state institutions to implement this strategy, stressing his serious support for the implementation of this task.

The Prime Minister stressed that the importance of this strategy lies in its protection of the supreme interest of the country, building a diversified and sustainable development economy, and adopting a service system that matches the aspirations of the people.

He said that we all bear the responsibility of building our homeland, protecting it and its sanctities in accordance with a fully sovereign and secure Iraq to achieve stability and development. https://ninanews.com/Website/News/Details?Key=1228435

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

Seeds of Wisdom RV and Economic Updates Thursday Evening 5-22-25

Good Evening Dinar Recaps,

XRP LEDGER BREAKS GROUND WITH ITS FIRST MICA-REGULATED EURO STABLECOIN

Schuman Financial’s EURØP has officially become the first euro-denominated stablecoin to satisfy the European Union’s Markets in Crypto-Assets (MiCA) regime—while launching natively on the XRP Ledger (XRPL).

Launched from Paris on 22 May, this historic development ties MiCA-grade legal certainty to a blockchain that has already processed over 3.3 billion transactions in its 12-year existence.

“EURØP on the XRPL combines the resilience of a global blockchain with euro-native liquidity and compliance at its core,” said Martin Bruncko, founder and CEO of Schuman Financial. “This will give Europe and euro-denominated financial markets an integral infrastructure for the next wave of financial innovation, which is happening on-chain.”

XRP Ledger And Why MiCA Status Matters

MiCA’s stablecoin provisions, which govern e-money tokens (EMTs) like EURØP, came into effect on 30 June 2024. These rules demand:

• Full 1:1 fiat backing

• Daily redeemability

• Bankruptcy-remote reserves

• Authorization by an EU regulator

Schuman Financial is licensed by the French ACPR as an EMT issuer. Its reserves are audited by KPMG and held at Société Générale and other top-tier banks.

While only a few issuers—Circle’s USDC and EURC, Société Générale’s EURCV, and about a dozen niche firms—have cleared MiCA’s high bar, EURØP is the first to do so on the XRP Ledger.

Historically, XRPL’s native DEX, rapid finality, and low fees made it a stronghold for IOU-based fiat tokens. However, EURØP now brings a fully MiCA-compliant euro stablecoin to that ecosystem for the first time.

The Strategic Importance of EURØP

Euro stablecoins currently make up just 0.15% of the $232 billion global stablecoin market—about $338 million as of April 2025. Still, they are now a strategic priority for European banks and fintechs, thanks to MiCA’s passportable legal framework.

For payment firms and corporate treasurers, EURØP delivers:

• Programmable settlement

• Transfers in 3–5 seconds

• Transaction costs of a fraction of a cent

• Full EU regulatory compliance

According to Schuman Financial, EURØP will support:

• DeFi lending pools

• Automated foreign-exchange corridors

• On-chain euro legs for tokenized real-world assets (RWAs)

These use cases align with MiCA’s framework—especially when firms file for a “significant” EMT designation with the European Banking Authority.

“The launch of EURØP on the XRP Ledger demonstrates how stablecoins can meet the high standards set by MiCA while unlocking new possibilities for on-chain payments and RWA tokenization,” said Cassie Craddock, Ripple’s Managing Director for UK & Europe.

@ Newshounds News™
Source:  Bitcoinist

~~~~~~~~~

SENATORS PLAN TO AMEND GENIUS ACT TO ADDRESS TRUMP FAMILY'S STABLECOIN

Senate Democrats, led by Chuck Schumer, Elizabeth Warren, and Jeff Merkley, are preparing to introduce an amendment to the GENIUS Act aimed at blocking U.S. presidents from profiting from stablecoins, in direct response to the Trump family’s involvement in crypto.

On May 20, the Senate voted to advance the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act)—after failing a procedural vote on May 8. The new amendment is designed to add anti-corruption guardrails, especially in light of Trump’s ties to the stablecoin USD1 and the crypto platform World Liberty Financial (WLFI).

“Passing the GENIUS Act without our anti-corruption amendment stamps a Congressional seal of approval on Trump selling access and influence to the highest bidder,” said Senator Jeff Merkley on X (May 22).

Trump Family Crypto Ties Under Fire

Trump and his three sons are linked to World Liberty Financial, which launched the USD1 stablecoin in March. Critics argue that Trump stands to personally benefit from legislation recognizing such stablecoins as official financial instruments.

A $2-billion investment in Binance, funded by an Abu Dhabi-based firm using USD1, could potentially generate profits for the Trump family via transaction fees.

While WLFI co-founder Zach Witkoff dismissed the allegations as “flawed,” Democratic lawmakers have called for investigations into these potential conflicts of interest.

More Than Just Stablecoins: The Memecoin Dinner Backlash

Democrats also took aim at a separate controversy: a private dinner hosted by Trump at his golf club on May 22 for up to 220 top holders of his personal memecoin.

• Senators Merkley and Warren, alongside Senator Chris Murphy and Public Citizen, held a press conference and are demanding Trump release the dinner guest list.

• Progressive advocacy group Our Revolution joined Public Citizen in protesting the event.

 “What is happening tonight — this private, secret dinner — in which individuals who have put money in Donald Trump’s pocket, get access to him, is maybe the most corrupt of all the corruption,” said Senator Chris Murphy.

Murphy further alleged the attendees could be buying access to influence national security policy—especially as many of them remain anonymous and some are reportedly foreign nationals.

📝 The proposed amendment to the GENIUS Act represents a major push to regulate not only stablecoins but also potential political conflicts arising from crypto adoption at the highest levels of U.S. government.

@ Newshounds News™
Source:  Cointelegraph

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Thursday Afternoon 5-22-25

Good Afternoon Dinar Recaps,

BRICS: STANDARD CHARTERED, DEUTSCHE BANK PREDICT US DOLLAR’S FUTURE

Amid the ongoing BRICS de-dollarization agenda, global leading banks Standard Chartered and Deutsche Bank have provided the latest insights on the US dollar’s future prospects.

The two banks remain bearish on the greenback due to various macroeconomic factors. These trillion-dollar institutions are now questioning the profitability of US-backed financial assets on a global scale.

The US-backed assets, especially the dollar, which was once the bedrock of all global finances, is slowly drifting away after BRICS kick-started the de-dollarization initiative, and Standard Chartered and Deutsche Bank are taking notice of the drastic changes that have occurred in the markets since three years ago.

BRICS: The US Dollar’s Future Is in Danger, Say Standard Chartered & Deutsche Bank

Standard Chartered and Deutsche Bank wrote in their latest report that the US dollar is in danger, not just from BRICS, but from everyone.

“The dollar weakness story is not over,” wrote Standard Chartered Global FX head Steve Englander. The strategist explained that the new trade policies have caused a long-term strain, eroding confidence in the White House.

Following Standard Chartered’s warning, Deutsche Bank wrote that the US dollar would face trouble not only from BRICS but from within.

Deutsche Bank analysts warned that Trump’s tax-cut bill would add $3 trillion to $5 trillion to the nation’s fiscal debt. This projection estimates that the extended debt could be added over the years.

As of May 2025, America’s debt stands at $36.2 trillion and is spiraling out of control.

“The combination of diminished appetite to buy US assets (from BRICS and others) and the rigidity of a fiscal process that locks in very high deficits is what is making the market very nervous (on the dollar),” wrote George Saravelos, Global Head of FX Research at Deutsche Bank.

Therefore, both Standard Chartered and Deutsche Bank are bearish on the prospects of the US dollar, as global demand weakens and fiscal instability intensifies.

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

US LAWMAKER INTRODUCES ANTI-CORRUPTION BILL AHEAD OF TRUMP'S DINNER

Donald Trump is preparing to host up to 220 people at his golf club, with access tied to his memecoin purchases.

California Representative Maxine Waters, ranking member of the US House Financial Services Committee, has announced plans to introduce legislation “to block [Donald] Trump’s memecoin and stop his crypto corruption.”

In a May 22 notice, Waters said the Stop Trading, Retention, and Unfair Market Payoffs (TRUMP) in Crypto Act of 2025 bill would be aimed at blocking the US president, vice president, members of Congress, and their families from engaging in “crypto crime.”

The US lawmaker referred to Trump and his wife, Melania, issuing personal memecoins in January, his family launching a stablecoin, USD1, through the crypto platform World Liberty Financial, and the president attempting to establish a national Bitcoin reserve as his sons back a BTC mining venture.

“Donald Trump is preparing to dine with the top donors of his memecoin who’ve made him, and his family, richer,” said Waters, adding:

“Trump’s crypto con is not just a scam to target investors. It’s also a dangerous backdoor for selling influence over American policies to the highest foreign bidder.”

Waters’ bill was one of many actions announced to oppose the president’s dinner to reward memecoin holders. Senators Chris Murphy and Elizabeth Warren are expected to attend a press event with representatives for the consumer advocacy group Public Citizen, and two Democratic organizations are set to protest at the Trump National Golf Club outside Washington, DC, where the memecoin dinner will be held.

Majority of participants have stayed anonymous ahead of dinner

The number and names of attendees to the May 22 dinner were still largely unknown, but several revealed their intentions through social media and news outlets to apply for background checks and meet the president.

Bloomberg reported that more than half of the participants eligible for the dinner and “VIP Tour” — a separate experience limited to the top 25 memecoin holders — were likely foreign nationals.

Among those claiming to attend included:

• Tron founder Justin Sun

• Hyperithm co-CEO Oh Sangrok

• Kronos Research CIO Vincent Liu

• Synthetix founder Kain Warwick

Sun posted to X on May 21, showing himself appearing to gain access to the Eisenhower Executive Office Building in Washington, DC, part of the White House compound.

Addressing members of the press on May 22, White House Press Secretary Karoline Leavitt said Trump was attending the dinner “in his personal time.” 

She denied that the event would take place at the White House, despite the memecoin project’s website previously stating the top 25 holders would be eligible for a tour of the government building.

Since the launch of the TRUMP memecoin on Jan. 17, many lawmakers and industry figures — including some generally supportive of Trump’s policies — have criticized the project.

In a May 20 article, the Wall Street Journal Editorial Board called on the White House to disclose the names of those attending the dinner, adding that Trump would “help himself by calling off his Thursday gala.”

Two organizations behind the TRUMP token are tied directly to the president and control roughly 80% of the total supply, opening up the potential for a rug pull in the future. In the previous 24 hours, the price of the memecoin has risen more than 11%, to $15.76 from $14.13.

@ Newshounds News™
Source: Cointelegraph 

~~~~~~~~~

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Iraq Economic News And Points To Ponder Thursday Morning 5-22-25

The Governor Of The Central Bank Participates In The First International Conference On Carbon Economics In Iraq.
 
May 21, 2025  His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq,
participated in the first international conference on carbon economics in Iraq,
as a key partner and supporter of combating climate change and reducing carbon emissions.
 
On the sidelines of the conference, His Excellency said in his speech:
 
The opportunity is ripe to contribute to preserving an environment that has been exhausted by wars and various pollutions,
 
mentioning a group of initiatives taken by the Central Bank of Iraq within a series of innovative solutions and measures that contribute to mitigating direct environmental challenges.
 
Among these solutions, the Central Bank,
in cooperation with the Supreme Committee for Lending in the Council of Ministers,
presented an initiative of (1) trillion dinars,
to
     shift from the use of traditional sources to renewable energy sources,
     reduce carbon emissions, and
     expand green spaces to achieve sustainable development.

He added that the Central Bank of Iraq, in cooperation with the World Bank,
worked to develop a green financing model and implement it within the financial sustainability roadmap approved by the Central Bank of Iraq for the period (2023-2029), and
 
one of its outcomes is the development of a sustainable financing roadmap for managing environmental, social, and governance (ESG) risks.
 
Revealing the commencement of granting specialized banking licenses to support climate and environmental conservation through financing green projects,
 
namely Riyada Bank and the Green Bank, and
work is underway to soon integrate these banks into the Iraqi banking ecosystem. He explained that
 
the Central Bank of Iraq has presented important projects, including the
 
     rehabilitation of brick factories to convert from polluting fuel (black oil)
     to cleaner fuel (liquid gas) to reduce carbon emissions,
 
as part of the trillion-dinar initiative, with an amount of 500 million dinars for each factory.
 
Announcing the Central Bank of Iraq's funding of waste recycling projects within the framework of the Renewable Energy Initiative,
 
the project aims to help reduce soil pollution, particularly in sanitary landfills.
 
This poses a future environmental risk,
impacting the type and quality of soil in housing, agricultural, and other projects.
 
His Excellency concluded by saying that he seeks to cooperate and offer initiatives in this field,
based on his belief in the bank's ability to
 
     create a better environment,
     increase community well-being, and
     overcome the environmental challenges surrounding Iraq.
    
    Central Bank of Iraq    Media Office   May 21, 2025     https://cbi.iq/news/view/2890 

2025 Budget: Government Advisor Outlines Spending Priorities And Plans To Address Trillion-Dollar Deficit

Time: 2025/05/21 Read: 2,430 times  {Economic: Al Furat News} The Prime Minister's financial and economic advisor, Mazhar Mohammed Salih, revealed important details related to the budget for the remainder of 2025 and the impact of global economic variables on the oil market.

In a press statement, Salih confirmed that "Iraq was able to sell its oil until the end of the first quarter of 2025 at an average price of $75 per barrel, which exceeds the price specified in the general budget law of $70."

He pointed to the paradox witnessed by the global oil market, as the OPEC+ group recently lifted its restrictions on member states' production, driven by a decline in global oil inventories. However, this increase coincided with the escalation of the trade war between the United States and China, and the subsequent imposition of customs tariffs, which produced signs of a recession in the global economy.

Salih explained that a 1% decline in economic growth leads to a half-percent decline in demand for crude oil and vice versa, noting that this has created a "downward oil asset cycle."

Regarding the Iraqi general budget for the rest of 2025, Salih indicated that it will operate according to the principle of "fiscal space," which is based on flexibility in controlling public expenditures.

He emphasized that priority in spending will be given to government salaries and wages, pensions, and social welfare, which affect the lives of eight million Iraqis. He also stressed the need to continue Spending on infrastructure projects remains uninterrupted, as they are linked to the government's development and reform agenda.

Saleh noted that the budget includes a hypothetical maximum borrowing limit of 64 trillion Iraqi dinars (about $1.5 trillion) to cover the deficit gap, out of an upper ceiling of 200 trillion dinars. He emphasized that the Ministry of Finance will borrow to finance the project when needed. LINK

Oil Prices Recorded A Slight Decline At Settlement

Wednesday, May 21, 2025 01:15 | Economic Number of reads: 456   Baghdad / NINA / Oil prices recorded a slight decline at the close of trading on Tuesday, due to the uncertainty surrounding the fate of negotiations between the United States and Iran and peace talks between Russia and Ukraine, while new government data presented a cautious outlook for the economy of China, the world's largest importer of crude oil.

Brent crude futures fell 16 cents, or 0.2 percent, to $65.38 a barrel at settlement, and US West Texas Intermediate (WTI) crude futures fell 13 cents, or 0.2 percent, to $62.56 a barrel. https://ninanews.com/Website/News/Details?key=1228151

Gold Prices Rise More Than 1% As The Dollar Continues To Weaken

Wednesday, May 21, 2025 05:14 | Economic Number of reads: 411  Baghdad/ NINA / Gold prices recorded a significant rise of more than 1% on Tuesday, supported by the continued weakness of the dollar amid uncertainty in global markets.

Spot gold rose 1.6% to $3,280.32 per ounce, while US futures rose 1.5% to $3,283.10.

As for other precious metals, platinum jumped 3.8% to $1,035.53, palladium rose 2.7% to $1,001.25, while silver rose 1.3% to $32.78 per ounce. / End https://ninanews.com/Website/News/Details?key=1228155

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

Seeds of Wisdom RV and Economic Updates Thursday Morning 5-22-25

Good Morning Dinar Recaps,

US LAWMAKER REINTRODUCES BILL AMID PUSHBACK ON TRUMP'S CRYPTO TIES

The US president's intention to host a dinner for people who purchased millions of dollars worth of his memecoin has contributed to slowing or halting crypto bills in Congress.

A Democratic representative in the US Congress will support a blockchain bill at a time when many left-leaning lawmakers are blocking crypto-related pieces of legislation due to concerns with President Donald Trump’s potential conflicts of interest.

In a May 21 notice, Minnesota Representative Tom Emmer said he had reintroduced the Blockchain Regulatory Certainty Act, a bill that “solidifies that digital asset developers and service providers that do not custody consumer funds are not money transmitters.” Emmer, a Republican, said Democratic Representative Ritchie Torres would co-lead the bill, making it a bipartisan effort in Congress.

“The Blockchain Regulatory Certainty Act reflects a thoughtful, bipartisan effort to get digital asset policy right,” said Torres. “While similar language was voted down in markup last Congress, we took that feedback seriously and returned with a smarter, sharper framework that protects innovation without compromising oversight.”

Representatives of advocacy organizations, including the Crypto Council for Innovation, Solana Policy Institute, Digital Chamber, Coin Center, DeFi Education Fund, and Blockchain Association, said they would support the proposed blockchain regulatory bill.

It was unclear whether Emmer and Torres had a majority of votes in the House of Representatives for the legislation to pass.

Torres has supported many bills and policies favorable to the crypto industry since assuming office in 2021. Together with Emmer, he has led the Congressional Crypto Caucus to advance crypto-friendly policies in the House since March.

A Bipartisan Blockchain Bill Amid Memecoin Concerns?

Other Democratic House members, including Representative Maxine Waters, have suggested they intend to block any legislation related to crypto and blockchain until Republicans address Trump’s connections to the industry, such as his family’s stake in World Liberty Financial and his TRUMP memecoin.

The president is planning to host a dinner with up to 220 people holding the most significant amounts of his memecoin on May 22.

@ Newshounds News™
Source:  Cointelegraph

~~~~~~~~~

MICHIGAN LAWMAKERS PROPOSE FOUR NEW CRYPTO-RELATED BILLS

The new Michigan bills would permit Bitcoin pension investments, bar state CBDC support, and offer tax breaks for crypto mining at oil sites.

▪️ Michigan lawmakers introduced four crypto-related bills, including HB 4510, which would permit public retirement funds to invest in Bitcoin via regulated exchange-traded products.

▪️ HB 4511 seeks to block state support for U.S. central bank digital currencies, banning any licensing, taxation, or official advocacy of CBDCs by state agencies.

▪️ Two companion bills, HB 4512 and HB 4513, promote Bitcoin mining at abandoned oil wells, offering tax breaks to companies that restore environmental sites in exchange for mining rights.

Four new crypto-related bills were introduced in the Michigan House late Wednesday, joining a growing trend of state-level efforts to define the role of digital assets in public policy.

Rep. Bill Schuette’s (R-MI) House Bill 4510 seeks to allow Michigan’s state treasurer to invest retirement funds in crypto, provided they averaged a market cap of at least $250 billion over the previous year and are held through exchange-traded products.

That threshold effectively narrows eligibility to Bitcoin, which soared past $111,000 on Wednesday and set a new all-time high amid renewed institutional interest.

Assets must be held through exchange-traded products issued by registered investment firms, ensuring regulatory oversight, according to HB 4510.

The next measure, House Bill 4511, introduced by Rep. Bryan Posthumus (R-MI), takes aim at the federal government’s push for central bank digital currencies.

The bill proposes a state-level ban on any licensing, taxation, or restriction of digital asset holdings, and outright prohibits state agencies from advocating for a U.S. CBDC.

“An agency or department of this state shall not advocate for or support... the testing, adoption, or implementation of a [CBDC],” the bill reads.

Meanwhile, Rep. Mike McFall (D-MI) introduced two companion bills, HB 4512 and HB 4513, focused on Bitcoin mining and tax reform.

One establishes a “Bitcoin Program,” allowing private firms to plug abandoned oil or gas wells in exchange for temporary rights to mine Bitcoin using residual fuel sources.

The other offers income and corporate tax deductions for revenue earned through such mining efforts, linking crypto directly to environmental remediation.

If passed, the program would be administered by the state’s Supervisor of Wells, who would maintain a public registry of eligible well sites, solicit annual bids, and ensure that participating miners carry financial responsibility for site restoration.

Michigan’s legislative push comes as several U.S. states race to either welcome or restrict crypto adoption.

Just hours earlier, the Texas House passed a bill to create a state-managed Bitcoin reserve, sending it to Governor Greg Abbott’s desk.

The bill would allow the state comptroller to invest in any digital asset with a market cap above $500 billion, currently only Bitcoin.

New Hampshire Governor Kelly Ayotte signed a similar bill into law earlier this month, making her state the first in the country to formally authorize crypto and precious metal investments for public funds.

@ Newshounds News™
Source:  Decrypt

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