More News, Rumors and Opinions Wednesday Afternoon 9-25-2024

KTFA:

Clare:  US Treasury: Supporters of Al-Sudani’s Reform Agenda

9/24/2024 Baghdad

The US Treasury Department confirmed, on Tuesday, its support for Prime Minister Mohammed Shia al-Sudani's reform agenda.

The ministry said in a statement, seen by "Al-Eqtisad News", that "Deputy Secretary of the Treasury, Wali Adeyemo, met with Iraqi Prime Minister Mohammed Shia al-Sudani on the sidelines of the United Nations General Assembly to discuss reforming the Iraqi banking sector, financial relations with the United States, and combating illicit financing."

The statement added, "The Deputy Secretary of the Treasury congratulated Al-Sudani on the great progress Iraq has made in reforming the banking sector, which has led to expanding Iraq's international financial connectivity and increasing financial inclusion."

According to the Treasury statement, Adeyemo affirmed “Treasury’s support for the Central Bank of Iraq and Prime Minister Mohammed Shia al-Sudani’s reform agenda.”

The Deputy Treasury Secretary praised the growth of the non-oil economy in Iraq by 6.0 percent, asking about "the steps the Prime Minister is taking to diversify the Iraqi economy from hydrocarbons," according to the US Treasury statement.

Earlier on Tuesday, Prime Minister Mohammed Shia al-Sudani received US Deputy Treasury Secretary Wally Adeyemo and a number of Treasury officials.   LINK

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Clare:  The Governor of the Central Bank announces the imminent adoption of the phone in completing banking operations in digital banks

9/25/2024  Baghdad - WAA - Wissam Al-Mulla

The Governor of the Central Bank, Ali Al-Alaq, announced today, Wednesday, the success of the digital transformation and electronic payment plan in Iraq, while stressing that digital banks will allow citizens to manage their operations through the phone.

Al-Alaq told the Iraqi News Agency (INA): "Through the data that was discussed in the electronic payment conference, it clearly indicates the success of the digital transformation and electronic payment plan, and the percentage rose from 20 percent a few years ago to 48.5 percent, which is double the percentage," indicating that "this percentage came during the last two years." 

He added that "there is a major transformation supported by a national strategy and a serious and direct government direction by the Prime Minister and giving the issue the momentum it deserves by providing the necessary infrastructure," explaining that "Iraq now has advanced infrastructure to accommodate electronic payment tools and financial services of all kinds so that we can soon move to the transformation to digital banks in which the mobile phone will be the one leading the various operations.

This facilitates services for citizens, reduces the chances of fraud, reduces the chances of corruption, and provides important data at the national level on the nature of transactions, their content, and oversight of them and the compliance achieved through the large system." 

He continued: “Many requests have been submitted to the Central Bank to establish digital banks, and this is evidence that the trend is receiving the attention of investors. There are more than 60 requests that the Central Bank is currently examining carefully to be able to meet the requirements and conditions that achieve success, because we must ensure that the first step in digital banks is a successful step,” stressing “the conditions, controls and rules that digital banks operate under, but they represent a major shift in banking services, and through them, citizens will be able to manage their operations through mobile phones.”

He pointed out that "a large percentage of Iraqis own mobile phones, and this is an advantage that we must invest in to carry out this task."   LINK

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

Jeff   Pretty much everything happening right now, along with Sudani being in the UN, everything has to do with Iraq going international...

Frank26  [Iraq boots-on-the-ground report]  FIREFLY:
The television is running that report again along with commercials in this report about how we are reviewing the deletion of the zeros.  It's on the news.  It's been on the news all day.  The same report over and over again.  FRANK:  Because that is exactly what they are about to do.

Guest Guru Luigi1   Iraq is in a very good position right now, This is what Iraq & Dinarians were waiting for. Nations & corporations are lining up to get a piece of the pie.  There's opportunities for those that get in early on the ground floor...IMHO

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Economic Crash Imminent: Moody's Predicts Further Economic Deterioration Unless Spending is Cut

Lena Petrova:  9-24-2024

https://www.youtube.com/watch?v=1VY72BWh7n4

FED. WARNS. (RED FLAG). CONSUMER (CON)FIDENCE CRATERS. HOME PRICES HIT NEW RECORD.

Greg Mannarino:  9-25-2024

https://www.youtube.com/watch?v=zndnA9CRCA4

Weaponized Dollar Pushing States to Gold and Sound Money

Weaponized Dollar Pushing States to Gold

Kitco News:  9-24-2024

In the ever-evolving landscape of finance and currency, the sound money movement is gaining ground across the United States. Recent conversations about this movement have been invigorated by an enlightening interview between Jeremy Szafron, Anchor at Kitco News, and J.P. Cortez, the Executive Director of the Sound Money Defense League.

This discussion shed light on key legislative victories and the broader implications of an economic shift that champions sound money as a means to secure financial stability for individuals and businesses alike.

One of the most impressive achievements highlighted in the interview is the removal of sales taxes on gold and silver in an astounding 45 states. This critical legislative victory reflects a growing recognition of the role precious metals can play in a sound monetary system.

By alleviating the tax burden on gold and silver transactions, lawmakers are incentivizing citizen engagement with these assets. This not only acknowledges their historical role as money but also empowers individuals with tools to protect their wealth from inflation and economic uncertainty.

The Sound Money Defense League has been at the forefront of these legislative efforts, advocating for laws that support the use of gold and silver as viable alternatives to fiat currencies. Cortez emphasized that reducing the tax burden on precious metals is essential for fostering a broader acceptance of sound money principles, thereby encouraging individuals to consider gold and silver as part of their financial portfolios.

Amidst growing global economic instability, the interview also touched upon the increasingly common trend of de-dollarization. As countries around the world seek ways to reduce their reliance on the U.S. dollar, there is an evident pivot towards alternative currencies, including gold.

This shift signals a fundamental transformation in the financial landscape, as nations explore the limits of fiat currencies and the potential stability offered by sound money.

Cortez rightly pointed out that gold has traditionally served as a hedge against the volatility of fiat currencies. In a world where inflation, fiscal policy missteps, and geopolitical tensions abound, the stability of gold becomes more appealing as individuals and countries alike search for safer investments. The growing recognition of gold’s relevance—both as a long-term investment and as a mechanism for financial resilience—is something Cortez emphasized throughout his discussion with Szafron.

As our economies become increasingly intertwined with technology and digital currencies, the necessity for a stable and dependable monetary system remains paramount. Gold’s status as a tangible asset, which has endured for thousands of years, provides a unique comfort in uncertain times. Whether individuals are investing to protect their savings or nations are re-evaluating their currency strategies, gold is emerging as a pivotal player in the evolving financial narrative.

Cortez’s insights serve as a reminder of the inherent value in diversifying one’s portfolio to include sound money options, especially amid turmoil in traditional financial markets. His belief that a robust sound money framework can lead to a more prosperous economy aligns with the growing awareness of the benefits that gold and silver can provide over ill-defined fiat currencies.

As Jeremy Szafron and J.P. Cortez discussed in their interview, the sound money movement is not just a niche interest anymore; it has grown into a significant movement with far-reaching implications.

The recent legislative victories regarding the sales tax exemptions for gold and silver reflect a shift towards recognizing the importance of sound money principles in everyday financial practices. With the world increasingly embracing de-dollarization and searching for safer investments, the role of gold as a hedge against fiat currency fluctuations has never been clearer.

As this movement continues to gain momentum in the U.S., it holds the potential to reshape the financial landscape in ways we are only beginning to understand. With organizations like the Sound Money Defense League leading the charge, the future of sound money looks not only promising but necessary for a more stable economic environment.

https://youtu.be/iDQS5dyco_8

https://dinarchronicles.com/2024/09/24/kitco-news-weaponized-dollar-pushing-states-to-gold/

Coffee with MarkZ and Andy Schectman. 09/25/2024

Coffee with MarkZ and Andy Schectman. 09/25/2024

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: Good morning everyone! We're running out of days in September... just saying.. let's go!!

Member: Another Wednesday - last one in September.. do we get the Budget posted to the Gazette? Do we get a rate today? Ah.. so many questions! Inquiring minds want to know!

MZ: Nader dropped a video earlier this morning “Treasury supports CBI of Iraq” I think this is important.  The US Treasury is supporting the Central Bank of Iraq. Why is this important? Over the last few weeks articles states Iraq has full control of its money …and now the US Treasury is saying the CBI is doing a great job….Troops are getting moved out….and they are openly talking about their project to delete the zeros. Imo opinions things are warm and fuzzy in Iraq even if we do not know the timing yet.

Member: A rumor:   They said that the navy was not to leave Iraq till the deal was signed.... They ship has left the station....

Member: JEFF RAHM said the Navy left Iraq after stating they wouldn't leave until the US was paid.

MZ: I have not heard that

Member: PPN also said US Navy was leaving Iraq. Maybe this is it!!!

Member: JEFF RAHM on FEARLESS FLOYD confirms that the US Navy left Iraq - Trump saying wouldn't leave until US was paid. USN possibly on Oct 01, insider info- CITI Bank -talking RV internally

Member: Also  Moon is due on the 29th, Oct. 1st Banks no longer except US Treasury Bonds as Collateral, US Ports Striking, Congress on a month break, Venezulean President Declared Christmas in October

MZ: On the bond side …overnight and into this morning they have been notified they will be going the first of next week and into the month of October. I verified this with bond holders that do not have an NDA. Bondholders now are NOT under an NDA. This makes me think that those previously under NDA’s have gone and are going now…..with full dollars over the weekend. I am very excited with this sudden bond news that started yesterday. Maybe this finally is it.

MZ: No news on specific currencies ….and nothing specific on CMKX yet. But I will keep digging.

Member: With no NDA’s maybe all those bond people next week will be shotgun starting with the rest of us????  A lot of big things looking to happen on Oct 1st which is Tuesday .

MZ: That’s what I thought….That we would go at the same time as our non-nda frinds…..Glad you caught that.

Member: I believe if we don’t RV this week or weekend- we will go on Oct 1st…or very soon after…with the government shutdown coming.

MZ: That is exactly my thoughts…I could be wrong but that is exactly my thoughts.

Member: And with currency auctions in Iraq ending  soon….we will see the RV…

MZ: Yes……many things appear to be coming together. I found 3 possible fiscal years in Iraq ….Part of Iraqs fiscal year ends along with the US governments on September 31st…part of iraqs fiscal year goes by the calendar year on December 31st. Another portion of it starts July 1st for some agencies in Iraq. So it is crazy trying to figure out the fiscal year in Iraq.

Member: Remember after we exchange- for safety do not go around bragging to everyone…..keeps lips zipped

MZ: Yes…do not rush out buying fancy and cars , jets and mansions immediately….If you do….I would say you are foolish and will paint a target on you and your families backs. You may be in danger of family who wants handouts, thieves, ect……..be smart and take your time.

Member: I wouldn’t be surprised that everything (the collapse) will happen so fast that no one will notice or care who’s had a sudden windfall.

Member: We may want to say to everyone- “I told you so”  but better to keep a low profile and just enjoy our new lives.

Member: If our new money will be gold backed….what happens with all the change we have in jars?

MZ: I am told our coins won’t change. We will get new notes…but coins will not change.

Member: Can you talk about the rate changes bankers were seeing yesterday?

MZ: Most of what my bankers saw yesterday –they think is a little low. Could be a place holder rate or a test rate or in-country rate?…but they are once again starting to see rates that are close to what we expect.

Member: I am still hoping and praying our exchange will not be taxed

Member: mark has said repeatedly no taxes …but if so he bought more currency to cover it

Member: I see retirement for us all in the near future……halleluia

Member: Another hurricane on the way…..Everyone stay safe in the path of the incoming storm's

Member: Every enjoy your day and God Bless.

MarkZ New Discord link:  https://discord.com/invite/AxGE6k4pvx

Andy Schectman from Miles Franklin joins the stream today …Listen to the replay for his opinions and information

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.

 ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut

THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!

Twitch:   https://www.twitch.tv/theoriginalmarkz

Youtube:   https://www.youtube.com/watch?v=0ZxWdcPvLIY

Iraq News Highlights and Points To Ponder Wednesday AM 9-25-24

Parliamentary Finance: Iraq Is Experiencing Good And Stable Economic Conditions

Money and business  Economy News - Follow-up  The Parliamentary Finance Committee downplayed concerns about the decline in oil prices on the economic reality, stressing that Iraq's financial and economic conditions are good, and that revenues exceed the size of concerns resulting from the possibility of a decline in global oil prices.

Member of the Parliamentary Finance Committee, MP Jamal Kojer, said in an interview with “Al-Sabah” followed by “Al-Eqtisad News”, that “oil prices have not fallen to worrying levels, and therefore we are now in a stable economic situation with a financial surplus, and therefore we cannot talk about a crisis unless oil prices fall to less than $70.”

The member of the Finance Committee stressed that "Iraq has gone through many economic and oil crises in the past, but the financial situation has remained stable and there is no fear of a current crisis."

“According to the Financial Management Law, the 2024 budget was supposed to be submitted after the middle of October, but there is still a delay in the expected schedules, which may be submitted in the first quarter of next year,” Koger continued. The MP pointed out that “the majority of the 2023 budget has already been disbursed, with 9 trillion dinars disbursed two months ago, while the 2024 budget has not yet been disbursed due to changes in governors and attempts to introduce new projects.”

The member of the Finance Committee added, "As for liquidity, the government has guaranteed the liquidity of salaries, but there is a shortage in the liquidity of projects. However, the projects that have been started will continue, including bridge projects."https://economy-news.net/content.php?id=47985

Parliamentary Committee Reveals A Way To Increase The Price Of A Barrel Of Iraqi Oil To $2,500

09/24/2024  Mawazine News - Baghdad   The Parliamentary Oil, Gas and Natural Resources Committee revealed, on Tuesday, a way to increase the price of a barrel of Iraqi oil to $2,500.

A statement by the Parliament's media department received by Mawazine News stated that "the Parliamentary Oil, Gas and Natural Resources Committee, headed by the head of the subcommittee for following up and proposing legislation, MP Ali Shaddad, and attended by MPs Basem Al-Gharibawi and Zainab Jumaa Al-Moussawi, met with the Undersecretary of the Ministry of Oil for Refining Affairs, Hamid Al-Zubaie, and the Director of the Legal Department at the Ministry of Oil, Salam Hamdan, to discuss the Private Investment Law in Refining Crude Oil No. (64) of 2007."

MP Ali Shaddad explained, according to the statement, that “the committee has included in its strategy the amendment of five laws due to their antiquity, and has taken it upon itself to host those concerned in the Ministry of Oil and advisors in the Council of Ministers, and at other times it has gone to the Ministry of Oil to meet with the relevant departments and authorities; to save time and reach understandings between the legislative and executive authorities regarding the paragraphs of the laws to be amended.”

He added that “the Ministry of Oil has, for many years past, offered a group of investment opportunities in the field of refineries, which have not received real interest from investors and companies, and there will be no seriousness in investing in this sector; due to the current law not being in harmony with the aspirations of investors and the requirements of this stage, and hence the need to amend this law despite it having been amended twice previously.”

He added, "The subcommittee for following up and proposing legislation discussed the paragraphs that should be focused on in the law to attract investment in the refining sector, and that the goal of amending the law is to make investment in refineries successful and create an attractive environment for investment in refineries, which will positively reflect on the country's economy," noting that "the legal department in the Ministry of Oil has been assigned to prepare a draft law that will later be presented to one of the consultants contracted with the ministry to mature this draft.

" The representative stressed, "The committee is keen for the draft law to reach the House of Representatives complete in terms of legal, technical and economic vision," noting that "the current value of a barrel of oil is $70, but transferring this barrel to the refining and petrochemicals sector increases the price of the barrel to $2,500." https://www.mawazin.net/Details.aspx?jimare=255361

Parliamentary Finance To {Sabah}: No Economic Crisis In Iraq

First  09/25/2024   The Parliamentary Finance Committee downplayed concerns about the impact of falling oil prices on the economy, stating that Iraq's financial and economic situation is good. Jamal Kocher, a member of the Parliamentary Finance Committee, told Al-Sabah that "oil prices have not fallen to worrying levels,

and therefore we are now in a stable economic situation with a financial surplus, and therefore we cannot talk about a crisis. He added that there is no fear of a current crisis, noting that "the government has guaranteed the liquidity of salaries."   https://alsabaah.iq/103218-.html

Iraq Moves To Export Jet Fuel

Money and business  Economy News – Baghdad  The Oil Products Distribution Company, affiliated with the Ministry of Oil, announced today, Wednesday, that the strategic reserve of gas oil has reached 800 million liters during the current year, while it indicated that a plan has been put in place to export aviation fuel produced by the Karbala refinery.

The General Manager of the Oil Products Distribution Company, Hussein Talib, said: “There is a plan to export the surplus of kerosene and gas oil,” indicating that “the power stations that operate on Iranian gas will be operated based on the gas oil product.”

He added, "The strategic storage, which reached about 800 million liters during this year, contributed to passing the summer season, and the situation is now under control," noting that "electric power generation stations reached a consumption of 12 million liters per day from the existing production in refineries and refining capacities and what was built from strategic storage during the year 2024."

He added, "There is a plan to export aviation fuel, which is produced by the Karbala refinery because it meets marketing specifications, and also in the near future shipments of surplus gas oil will be exported,"

explaining that "according to the directives of the Prime Minister and his deputy, the Minister of Oil, there should be one million cubic meters of strategic storage of gas oil products, and the surplus should be for export purposes."

He pointed out that "the ministry achieved self-sufficiency in the production of kerosene and white oil, and stopped importing them." 09/25/2024 - https://economy-news.net/content.php?id=47999

US Treasury: Supporters of Al-Sudani’s Reform Agenda

Money and business  Economy News – Baghdad  The US Treasury Department confirmed, on Tuesday, its support for Prime Minister Mohammed Shia al-Sudani's reform agenda.

The ministry said in a statement, seen by "Al-Eqtisad News", that "Deputy Secretary of the Treasury, Wali Adeyemo, met with Iraqi Prime Minister Mohammed Shia al-Sudani on the sidelines of the United Nations General Assembly to discuss reforming the Iraqi banking sector, financial relations with the United States, and combating illicit financing."

The statement added, "The Deputy Secretary of the Treasury congratulated Al-Sudani on the great progress Iraq has made in reforming the banking sector, which has led to expanding Iraq's international financial connectivity and increasing financial inclusion."

According to the Treasury statement, Adeyemo affirmed “Treasury’s support for the Central Bank of Iraq and Prime Minister Mohammed Shia al-Sudani’s reform agenda.”

The Deputy Treasury Secretary praised the growth of the non-oil economy in Iraq by 6.0 percent, asking about "the steps the Prime Minister is taking to diversify the Iraqi economy from hydrocarbons," according to the US Treasury statement.

Earlier on Tuesday, Prime Minister Mohammed Shia al-Sudani received US Deputy Treasury Secretary Wally Adeyemo and a number of Treasury officials. https://economy-news.net/content.php?id=47975

Localization Of Employees’ Salaries And Border Crossings.. The Most Important Topics Discussed In The Meeting Of The Finance Committee With Erbil

Local | 01:58 - 09/25/2024  Mawazine News – Baghdad   The head of the Finance Committee, Atwan Al-Atwani, discussed today, Wednesday, during his meeting with the head of the Kurdistan Democratic Party, Masoud Barzani, the implementation of the provisions of the Federal General Budget Law, the oil and national wealth file, the settlement of employees' salaries, border crossings, taxes and customs.

The media office of the head of the Finance Committee stated in a statement received by Mawazine News, that "Atwan Al-Atwani and his delegation met with the head of the Kurdistan Democratic Party, Masoud Barzani, in Erbil, where the meeting discussed the overall political and security situation in the country, and ways to resolve the outstanding issues between the central government and the Kurdistan Regional Government of Iraq in a way that establishes a new phase of cooperation, coordination and understanding on the basis of respecting the Iraqi constitution.

" Al-Atwani reviewed "the files that the Finance Committee delegation came to discuss with the Kurdistan Regional Government, most notably the implementation of the provisions of the Federal General Budget Law, the oil and national wealth file, the settlement of employees' salaries, border crossings, taxes and customs, and other issues related to the financial aspect."

The statement stressed the "financial committee's constant efforts to find understandings that lead to radical solutions to the outstanding issues between the federal government and the region," stressing that "deferring the differences does not solve them, but rather increases their complexity."

Al-Atwani added, according to the statement, "We have sensed in the federal government a genuine desire to eliminate crises and begin the process of construction and development," noting that "achieving prosperity for the Iraqi people requires political stability." https://www.mawazin.net/Details.aspx?jimare=255405

Seeds of Wisdom RV and Economics Updates Wednesday Morning 9-25-24

Good Morning Dinar Recaps,

SEC Chair Gary Gensler grilled over crypto regulation, handling of DEBT Box case in heated congressional hearing

▪️Republican Majority Whip Tom Emmer got into a heated exchange with SEC Chair Gary Gensler during Tuesday’s hearing.

▪️Some lawmakers have criticized the SEC’s approach to regulating crypto over the years and say rules are not clear for the industry. Others say the SEC is doing its job by protecting investors.

U.S. Securities and Exchange Commission Chair Gary Gensler took the heat from both sides of the aisle during a congressional hearing over his handling of regulating the crypto industry.

In an intense exchange during a House Financial Services Committee hearing on Tuesday, where all five SEC commissioners were testifying, Republican Majority Whip Tom Emmer asked the SEC chair about its case involving crypto startup DEBT Box.

A federal judge in Utah criticized the SEC's handling of the case and said the agency acted in bad faith. The agency was ultimately ordered in March to pay sanctions, including attorney's fees and costs. The same judge also criticized what he characterized as the SEC's misleading statements, with the agency admitting it had fallen short of expectations.

"Does the fact that we're talking about this today even slightly embarrass you?" the Minnesota Republican asked.

"The matters in that case were not well handled," Gensler responded.

Some lawmakers have criticized the SEC's approach to regulating crypto over the years and say rules are not clear for the industry. Others, including top Democrat Maxine Waters say the SEC is doing its job by protecting investors and "ensuring our capital markets remain the envy of the world."

Tuesday's hearing also comes as elections are just around the corner where crypto has become a hotly contested issue. 

Crypto firms have so far spent $119 million in 2024, with almost all of the funds going into super political action committees, specifically the Fairshake PAC, according to a report last month from consumer advocacy group Public Citizen.

Emmer, who has been critical of the SEC chair, also asked Gensler about Vice President Kamala Harris' comments over the weekend about crypto. Harris said she would "encourage innovative technologies like AI and digital assets while protecting consumers and investors. We will create a safe business environment with consistent and transparent rules of the road," according to Bloomberg.

"Is this your approach too sir, or do you think she's rebuking you because she doesn't think you've done a good enough job establishing these clear rules over the last three years of her administration?" Emmer asked.

Gensler said laws are in place, but that Congress can change them.

Take me out to the ball game
Democrat Ritchie Torres also peppered Gensler with questions about how the agency defines securities, using a New York Yankees ticket as an example. The crypto-friendly lawmaker asked Gensler if selling a Yankees ticket to him would be a security and later pointed out that the ticket would give him "access to a Yankees game."

Torres' line of questioning comes after the SEC has charged multiple entities with unregistered securities offerings, including Stoner Cats 2 LLC for conducting an unregistered offering of NFTs that brought in $8 million from investors.

"From the standpoint of federal securities laws, is there a legal difference between buying a Yankee ticket that offers you the experience of a Yankee game and buying an NFT that offers you the experience of an animated web series?" Torres asked.

Gensler said it's about how something is offered and sold and if people are "looking to a common enterprise anticipating profits," citing the Howey Test. The test is based on a 1946 U.S. Supreme Court case frequently cited by the SEC, to determine if an asset qualifies as an investment contract and, therefore, a security.

"The expectation or promise that an object could appreciate in value or that an object could be sold at a profit in the secondary market, that expectation or profit could be retrospectively attributed to just about any collectible or any consumer good or any piece of art or any piece of music," Torres said.

Gensler said it's about how something is offered and sold and if people are "looking to a common enterprise anticipating profits," citing the Howey Test. The test is based on a 1946 U.S. Supreme Court case frequently cited by the SEC, to determine if an asset qualifies as an investment contract and, therefore, a security.

"The expectation or promise that an object could appreciate in value or that an object could be sold at a profit in the secondary market, that expectation or profit could be retrospectively attributed to just about any collectible or any consumer good or any piece of art or any piece of music," Torres said.

 @ Newshounds News™

Source:  The Block

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BNY nears crypto custody for ETFs after SEC softens SAB 121 stance

Bank of New York Mellon will not be held to SEC accounting practices for client crypto custody after a review.

The Bank of New York Mellon (BNY) is moving toward providing custody services for its exchange-traded fund (ETF) clients’ Bitcoin and Ether after the United States Securities and Exchange Commission (SEC) gave it a pass on observing controversial crypto accounting guidelines.

The SEC’s Office of the Chief Accountant conducted a review earlier this year and concluded that the bank did not need to adhere to the SEC’s Staff Accounting Bulletin (SAB) 121, Bloomberg reported.

SAB 121 requires companies safeguarding client crypto assets to list them as liabilities in their accounting. It has been a thorn in the side of the US crypto industry since its introduction in April 2022.

The SEC loosens its grip
Other financial institutions may receive the same break, the SEC hinted. A spokesman told Bloomberg:

“Certain broker dealers and custody banks have sufficiently demonstrated to SEC staff that their fact patterns are different from those described in SAB 121.”

“As long as their customers receive the same protection for the safeguarding of crypto assets as they do in custody arrangements, their balance sheet treatment is also the same as custody arrangements,” the agency continued.

BNY would need the authorization of other regulators in addition to the SEC before it could begin offering custody services. It told Bloomberg:

“BNY has engaged, and will continue to engage, its banking regulators to offer custody services to crypto ETP clients at scale.” Source: Financial Services GOP

 SAB 121 is a source of endless controversy.  

The inconvenient SAB 121 caught the world unprepared. Coinbase’s Q1 2022 financial report led to false speculation that the company was unsound after it incorporated the new accounting.

In June 2022, politicians joined the fray for the first of many times by writing to SEC Chair Gary Gensler complaining of “regulation disguised as staff guidance.”

The Government Accountability Office examined the guidance at the urging of pro-crypto Senator Cynthia. In October 2023, it determined that SAB 121 was subject to the Congressional Review Act, which requires agency rules to be submitted to Congress with a procedure for disapproval.

A coalition of the Bank Policy Institute, American Bankers Association, Financial Services Forum and Securities Industry and Financial Markets Association sent a letter to Gensler in February asking that traditional assets recorded on blockchain be exempted from the requirements of SAB 121.

Despite the pressure, the SEC held tight to the guidance, and legislation was passed to overturn the guidance in May. US President Joe Biden vetoed the legislation the following month.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

Gensler grilled as most ‘destructive’ SEC chair during congressional hearing

SEC Chair Gary Gensler faced criticism from lawmakers and agency members during a House Financial Services Committee hearing over his handling of crypto regulation in the United States.

United States Congressman Tom Emmer slammed SEC Chair Gary Gensler during a congressional hearing, calling him the most “destructive” and “lawless” Chair in the regulator’s 90-year history.

“You’ve made up the term crypto asset security. This term is nowhere to be found in statute, you made it up [and] you never provided any interpretive guidance on how crypto asset security might be defined within the walls of your SEC,” Emmer told Gensler before a House Financial Services Committee hearing on Sept. 24.

Emmer said the term had served as the entire basis for Gensler’s “enforcement crusade” against the crypto industry for the last three years. This was up until last week when SEC lawyers retracted the term in a court footnote.

“Your inconsistencies on this issue have set this country back. We could not have had a more historically destructive or lawless chairman of the SEC.”

Emmer also grilled Gensler over his agencies’ handling of the Debt Box case — a case where the SEC sued a crypto startup for an alleged $50 million fraud scheme. The case against Debt Box was dismissed on May 28, and the SEC was ordered to pay $1.8 million in fees.

Emmer said the SEC attorneys crafted a series of lies in the Debt Box case to “effectuate the commands” of Gensler’s “anti-crypto rhetoric” and regulation-by-enforcement agenda.

“The matters in that case were not well handled,” Gensler said in response to Emmer’s questioning.

SEC ‘should have admitted long ago’ that crypto tokens aren’t securities: Peirce

Gensler also faced heat from within his own ranks, with SEC Commissioner Hester Peirce saying the SEC’s move to retract the term crypto asset security in court last week should have happened “a long time ago.”

“[By] tucking into a footnote, we admit that now actually the token itself is not a security. That's something that we should have admitted long ago,” the pro-crypto SEC commissioner explained.

“We’ve fallen on our duty as a regulator not to be precise,” Peirce said.

When asked whether crypto tokens need a statutory definition to ascertain how they apply to securities laws, Peirce responded: “It’s always helpful to have Congress weigh in, but there certainly are some guidelines we could provide in this area that we have chosen not to provide.”

“But a statutory definition would help well I always welcome the input of Congress.”

Gensler confirms SAB 121 rule will stay in place

Despite calls from 42 US politicians to rescind the SEC’s Staff Accounting Bulletin No. 121 rule, Gensler said it will remain in effect.

“No, it’s a good accounting bulletin,” Gensler said in response to a question from House Rep. Wiley Nickel about whether the SEC would rescind the rule.

The SAB 121 rule mandates SEC-reporting entities that custody crypto to record those holdings as liabilities on their balance sheets. A SAB 121 repeal bill received bipartisan support in Congress before being vetoed by President Joe Biden in June.

Gensler claims it will help public companies understand the risks associated with holding crypto, pointing to FTX, Terraform Labs and other crypto bankruptcies.

Nickel didn’t bite, claiming that SAB 121 actually makes the digital asset ecosystem “less safe.”

Nickel recently claimed that SAB 121 would prevent US banks from custodying crypto exchange-traded products at scale, creating a “concentration risk” by handing more control over to non-bank entities.

With the rule now in place, Nickel slammed the SEC’s Office of the Chief Accountant for recently exempting Bank of New York Mellon from the balance sheet reporting requirement — arguing that it will lead to “different rules for different folks.”

But Gensler disagreed: “It’s actually the same rules for different folks.”

@ Newshounds News™

Source:  CoinTelegraph

  ~~~~~~~~~

AHEAD OF TODAY’S CONGRESSIONAL HEARING ON SEC OVERSIGHT, REPUBLICANS URGED GENSLER TO REPEAL  |  Youtube

@ Newshounds News™

Source: Seeds of Wisdom Team Currency Facts 

  ~~~~~~~~~

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“Tidbits From TNT” Wednesday Morning 9-25-2024

TNT:

Tishwash:  Parliamentary Finance: Iraq is experiencing good economic conditions with a financial surplus

The Parliamentary Finance Committee downplayed concerns about the decline in oil prices on the economic reality, stressing that Iraq's financial and economic conditions are good, and that revenues exceed the size of concerns resulting from the possibility of a decline in global oil prices.

Member of the Parliamentary Finance Committee, MP Jamal Kojer, stated in a statement to the official newspaper, followed by (Al-Rabia), that “oil prices have not fallen to worrying levels, and therefore we are now in a stable economic situation with a financial surplus, and therefore we cannot talk about a crisis unless oil prices fall to less than $70.”

The member of the Finance Committee confirmed that "Iraq has gone through many economic and oil crises in the past, but the financial situation has remained stable and there is no fear of a current crisis." link

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Tishwash:  Parliamentary Finance: Iraq is experiencing good and stable economic conditions

The Parliamentary Finance Committee downplayed concerns about the decline in oil prices on the economic reality, stressing that Iraq's financial and economic conditions are good, and that revenues exceed the size of concerns resulting from the possibility of a decline in global oil prices.

Member of the Parliamentary Finance Committee, MP Jamal Kojer, said in an interview with “Al-Sabah” followed by “Al-Eqtisad News”, that “oil prices have not fallen to worrying levels, and therefore we are now in a stable economic situation with a financial surplus, and therefore we cannot talk about a crisis unless oil prices fall to less than $70.”

The member of the Finance Committee stressed that "Iraq has gone through many economic and oil crises in the past, but the financial situation has remained stable and there is no fear of a current crisis."

“According to the Financial Management Law, the 2024 budget was supposed to be submitted after the middle of October, but there is still a delay in the expected schedules, which may be submitted in the first quarter of next year,” Koger continued. The MP pointed out that “the majority of the 2023 budget has already been disbursed, with 9 trillion dinars disbursed two months ago, while the 2024 budget has not yet been disbursed due to changes in governors and attempts to introduce new projects.”

The member of the Finance Committee added, "As for liquidity, the government has guaranteed the liquidity of salaries, but there is a shortage in the liquidity of projects. However, the projects that have been started will continue, including bridge projects   link

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Tishwash:  Rafidain announces collecting 3 trillion dinars from taxes within 9 months

 Rafidain Bank announced today, Wednesday, that it collected 3 trillion dinars from taxes during 9 months of the current year.

The bank's media office stated in a statement received by the Iraqi News Agency (INA), that "the total amounts of financial settlements related to electronic collection movements from state departments and institutions that have activated electronic collection and switched to electronic transactions and collected bills and fees from beneficiaries electronically via bank cards and  POS devices , is 3 trillion dinars during the first nine months of the current year."

He added, "This achievement represents the great interaction using electronic payment in financial transactions and ensuring the preservation of money movement paths and making them in a safe and transparent environment."  link

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Tishwash: An imminent process to change the skin of the Iraqi dinar.. Removing zeros will reveal the extent of currency manipulation

Government advisor: It must be preceded by political and economic stability

There has been talk once again about the possibility of removing zeros from the local currency, as the government is studying a bold option of changing the Iraqi dinar to its skin. Although this step carries promises of simplifying financial transactions, it raises concerns about its effects on the economy and citizens, especially in light of the inflation that the markets have been witnessing for a long time .

During the current month, the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, revealed new information regarding the project to delete zeros in Iraq, indicating that “the project is undergoing continuous review and study, taking into consideration the existence of an issued currency volume that has exceeded 100 trillion dinars, after it was 6 trillion in 2004. ”

Many countries take the step of removing zeros from their currency to revalue their national currency , and facilitate financial transactions by removing a certain number of zeros from the nominal value of the currency, making it appear less inflationary and more stable .

60countries experience

“Removing zeros from the local currency is a process that has taken place in more than 60 countries over the past years,” said Mazhar Mohammed Saleh, the Prime Minister’s financial advisor. “This step comes after economic inflation occurs in countries, and therefore they resort to deleting zeros in order to keep up with prices in the markets,” he explained. 

In an interview with Al-Jabal, Saleh continued, saying, “The abundance of zeros has doubled the monetary value of the currency now,” adding, “Political and economic stability must be achieved before resorting to deleting zeros.” 

According to Saleh, the process of deleting zeros will facilitate the financial trading process, in addition to facilitating the calculations, and will not affect the value of the currency and all goods in the market, pointing out that this process will also allow the issue of trading small currencies in the markets, which supports the poor class of society .

The Iraqi Council of Ministers (February 7, 2023) approved the decision of the Board of Directors of the Central Bank to adjust the exchange rate of the dollar against the dinar, equivalent to 1,300 dinars per dollar, after it was 1,480 dinars per dollar, which, according to observers, caused a significant decline in the value of the Iraqi dinar in the markets .

 What about the value of the dinar?

 In this regard, financial expert Mahmoud Dagher told Al-Jabal, “There is a high committee formed within the Central Bank that is continuing discussions and studying the deletion of zeros from the local currency of Iraq,” indicating that “the numbers on the currency have become very large, which is the main reason behind this process.” 

Dagher, a candidate for a senior position at the Central Bank, added, “The most prominent positive aspect of removing zeros from the currency is strengthening the psychological aspect of the currency by reducing the volume of transactions,” adding, “Removing zeros does not change the value of the money nor does it affect the volume of demand and the monetary mass.” 

" Iraq currently has a currency issue exceeding 100 trillion dinars," said Dagher, who pointed out that "there is a negative point resulting from this process, which is the large financial costs to cover this process, and therefore the committee needs to study all economic aspects before making the final decision." 

According to Dagher, changing the currency will lead to the Central Bank controlling the amount of cash liquidity outside the banking system and knowing the amount of currency available, stressing that this process will work to uncover manipulation, financial theft, and other things .

According to the circulated data, the foreign reserves of the Central Bank of Iraq cover 83.62% of the broad money supply, which is enough to cover the cost of imports for 15 months, while the global standard rate is 20 %.

Expected effects

According to the specialists’ view, the process of deleting zeros from the Iraqi local currency has many positives, as well as negatives, which can be summarized as follows :

The positives include: First: Simplifying calculations, as removing zeros will contribute to simplifying calculations and facilitating dealing with money .

Second: Improving the image of the currency, as deleting zeros may give the impression that the Iraqi currency has become more stable and stronger .

Third: Attracting investments, as this process may encourage investors to invest their money in the Iraqi economy .

As for the negatives:

 First: High costs, as implementing this project requires large costs to change banknotes and coins, and update electronic payment systems .

Second: Temporary confusion, as citizens may face some confusion in the first period after implementing the decision .

Third: The reform is not sufficient, as deleting zeros is only one of many measures necessary to achieve economic stability .

Steps to strengthen the dinar

In this regard, Drid Al-Shaker Al-Anzi, an economic expert, told Al-Jabal, “The Central Bank’s attempts to improve the reality of the local currency are many, but they always come to no avail.”

The Central Bank owns about $115 billion, 140 tons of gold, in addition to $43 billion in central treasury bonds, and $36 billion accumulated in savings at the Federal Reserve deposited in (JP Morgan), but they "did not and will not affect the strength of the Iraqi currency," according to the economic expert .

 Al-Anzi believes that “linking the Iraqi currency’s evaluation completely to the dollar through negotiations with the US Federal Reserve will allow for improving the strength of the Iraqi dinar,” stressing that this step will make the Iraqi dinar “stronger than the Jordanian dinar . ”

Al-Anzi points out that "the step of deleting zeros is not useful in improving the value of the Iraqi dinar compared to the countries of the region," considering that "it is a step that will only change digital transactions and has no positive value   link

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Mot: Amazing how I can Still get Around !!! 

Mt: siiiggghhhhhhh -- Been un of Those Daze!!! 

News, Rumors and Opinions Wednesday AM 9-25-2024

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

Judy Note: I will not be putting out an update tonight for Wed. 25 Sept. To me, it still sounds pretty solid that everything is going to start happening on Tues. 1 Oct. – the EBS, notification for appointments, starting of the 10 days of communication darkness, complete US government shutdown and I don’t know what else. Readers need to prepare. Our world is changing.

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Ariel : So Many Things Converging at Once on October 1st, Game Over

Tuesday, 24 September 2024, 22:56 PM

OPEC+ nations may announce further cuts to oil production, which could lead to higher energy prices globall

The Port is supposedly going on strike as union workers demand a 77% raise.

After a long pause, millions of Americans will have to start repaying student loans, impacting disposable income

Basel 3 is supposed to go into effect that will change the real estate market forever.

LIBOR is supposed to be replaced by SOFR.

Key corporate earnings reports and economic forecasts are due, which could influence market sentiment significantly, particularly in already volatile financial markets.

Imposition of new tariffs as trade negotiations continue to strain between major economies, affecting prices of imported goods and manufacturing.

Government Shutdown is hovering over that date as well.

Certain pandemic-related housing protections, including eviction moratoriums and mortgage forbearance programs, are set to expire.

Rising interest rates and global economic pressures are heightening fears of a debt crisis in emerging markets, potentially leading to currency issues.

October 1st marks the beginning of the new fiscal year for many organizations, leading to budget reallocations, layoffs, or strategic pivots.

We are heading towards historic events that will change the course of this country forever. And the Deepstate knows there is no going back from that point. So expect them to throw everything at us. Because for them our future is going to be their end. And they do not want you making it to that opportunity to remove them from this planet forever. So be prepared for anything and everything. Nothing to fear. Nothing to run from. As I told you yesterday. You hold the cards now.

Goodluck.

𝙂𝙖𝙢𝙚 𝙊𝙫𝙚𝙧!

Freedom
Liberty
Law & Order
Prosperity

We are about to embark upon a historic endeavor ladies & gentlemen. We have been waiting for this moment and it is finally here. Things will start to move at a high pace after October 1st. Which means the Caball will ramp up their desperation to maintain power. But this will not stop anything. We are about to take back full control of this nation. And we will be compensated for sticking it out and making it to this pivotal point in history.

 What Does This Mean For The Average Person?

With regulated financial institutions now allowed to custody Bitcoin and crypto, digital assets are gaining legitimacy and moving closer to mainstream adoption. This paves the way for broader acceptance in everyday financial systems. Allowing established institutions to hold crypto provides an extra layer of security and trust, reducing the fear of hacks and scams that have plagued unregulated exchanges. It creates a safer environment for both new and seasoned investors. Traditional banks offering crypto custody services make it easier for everyday people to invest in digital currencies without needing to navigate complex, unfamiliar platforms. This bridges the gap between traditional finance and the world of crypto.

Traditional banks offering crypto custody services make it easier for everyday people to invest in digital currencies without needing to navigate complex, unfamiliar platforms. This bridges the gap between traditional finance and the world of crypto. As traditional banks begin to embrace digital assets, the exposure to Bitcoin and other cryptocurrencies offers individuals the opportunity to diversify their portfolios with assets that have historically provided high returns compared to traditional investments.

Crypto offers a way for people who are underserved by traditional banking systems to participate in the financial world. Regulated custody services help level the playing field, offering new opportunities for wealth-building. This development sets the stage for broader integration of decentralized finance within traditional financial structures, providing new ways to earn, borrow, and save that were previously inaccessible. Not to mention how this will help the IQD reach the international financial market for those who are waiting on the rate change.

Source(s):
https://x.com/Prolotario1/status/1838681166162886863
https://x.com/Prolotario1/status/1838691043694498049
https://x.com/Prolotario1/status/1838692395480756276

https://dinarchronicles.com/2024/09/24/ariel-prolotario1-so-many-things-converging-at-once-on-october-1st-game-over/

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

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

Militia Man  We had three articles the other day and now we have another one out today.  Article:  "Removing zeros from the Iraqi dinar is back in the spotlight:  Strengthening the currency or just changing its form?"  Quote:  "...Remove the zero...is done by removing specific number of zeros from the nominal value of the currency."  They didn't say from the currency bills themselves.  They're talking about the nominal value.  For all you folks out there that have been talking about a lop, please just read and see...What is the value of your currency?  Today it's .00076.  If you take off 3 zeros what do you have?  .76

Frank26  [Iraq boots-on-the-ground report]   FIREFLY:
Mr. Sammy [bank friend] expects by the end of this year or early '25 we will see what we're looking for...but he agrees with you it could happen at any time in the next three months of this year.  FRANK:  Mr. Sammy and I are on the same page.  The only difference is he's turning the pages a little slower than I am.  I do not see this going into next year.

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

The treasury support CBI of Iraq

Nader:  9-24-2024

https://www.youtube.com/watch?v=MDzJ3pcVrxo

Vietnam and Iraq Currency Updates & Future Prospects

Edu Matrix:  9-25-2024

Vietnam and Iraq Currency Updates & Future Prospects—The CBI Launches New Sustainability Map. State Bank of Vietnam Changes VND Rate.

https://www.youtube.com/watch?v=DV-k-xS5F0g

Iraq Economic News and Points To Ponder Tuesday Evening 9-24-24

MP: Iraq Is Heading Towards “Major” Economic Changes And A Global Urban Revolution

Construction and reconstruction  Economy News – Baghdad  MP Sharif Suleiman praised, on Tuesday, the visit of Prime Minister Mohammed Shia al-Sudani to New York to participate in the 79th session of the United Nations, stressing that Iraq is qualified to control "important" files and is on the verge of "major" economic changes and an urban revolution in line with global developments.

Suleiman said, "Iraq's participation in the work of the United Nations General Assembly is a positive step, especially in light of the difficult conditions the region is going through."

He added, "Iraq has geographical and strategic qualifications that enable it to control important economic, political and security files," noting that "Iraq is on the verge of major economic changes and is leading an urban revolution in line with global developments."

Suleiman said, "This participation is an opportunity for Iraq to enhance its international presence and highlight its role in resolving regional conflicts and contributing to the stability of the region. Iraq also seeks, through these meetings, to strengthen its relations with major countries and attract more investments to support its development plans."  https://economy-news.net/content.php?id=47961

Rafidain Launches Its Report On The Stages Of Combating Money Laundering And Terrorist Financing

Economy  | 09/24/2024  Mawazine News – Baghdad  Today, Tuesday, Rafidain Bank launched its report on the stages of combating money laundering and terrorist financing.

A statement by the bank received by (Mawazine News) stated that "it issued its report on the stages of combating money laundering and terrorist financing and the procedures that contributed to achieving this achievement and due diligence towards customers and using the best models for opening accounts and updating other customer information,

 in addition to obtaining monitoring and follow-up programs that prevent any illegal transactions through suspicious activities and confronting them and informing the concerned authorities about them."

He stressed that "the report reflects the extent of commitment to implementing international standards for combating money laundering and terrorist financing and the efforts made by the bank to combat crimes in accordance with international standards in this regard."

The bank explained "the steps to implement the AML system (Anti-Money Laundering and Terrorist Financing System) related to Rafidain Bank since its establishment and the stages that have been implemented are as follows:

1- Contracting with Capital B. Solutions Ltd. on 17-12-2023 to acquire a specialized system to combat money laundering for individuals and entities who have financial activities with the bank and according to the requirements of the Central Bank of Iraq and the Anti-Money Laundering Unit, where four programs will be implemented for the following tasks: -

Risk profiling of the bank's customers - Implementing the scenarios approved by the Central Bank of Iraq and the requirements of the Anti-Money Laundering Unit

– Monitoring unusual customer movements (Auditing and Monitoring)

 - Implementing the (Go Aml) program to extract reports to detect and report suspicious transactions and upload them to the (Go Aml) platform or portal in accordance with the requirements of anti-money laundering laws and regulations and according to local and international standards

 - Screening the names of customers (screening) on ​​local and international sanctions lists that include a wide range of individuals, organizations and entities involved in sanctions and restrictions imposed by international organizations and governments.

- Implementing the FATCA program for US tax compliance to combat tax evasion by the bank's customers who have US citizenship

 2- System stages The stage of preparing the system requirements, as the bank has reached advanced stages of achievement, which are as follows:

- Preparing the infrastructure to operate the system (test environment) - Production environment (production) and securing communications

- Preparing customer risk classification requirements for individuals and entities on the system according to the risk matrix that depends on the criteria (source Money - Nature of residence - Type of service - Customer activity area - Individual or company activity - Nature of individual - Type of company) and risk category (low - medium - high - very high)

- Adjusting system settings and verifying the operation of screens - The (AML) system was linked to the banking system database (Core Bank) by extracting data from the banking system database in a secure manner and passing it to the (AML) system on a daily basis.

- Training those concerned from the Money Laundering and Anti-Terrorism Reporting Department and the Information Technology Department on the system according to the specialization and functional and technical system requirements, roles and powers.

3- The examination and acceptance stage (UAT) of the system, which is the current stage of the project - The specialized and trained team on the system examines the system screens according to the requirements of the bank, the Central Bank of Iraq and the Anti-Money Laundering Unit

 - Submitting weekly comments and reports and submitting them to the implementing company to make amendments and correct them.

4- The stage of acquiring international sanctions lists. The bank is in the process of contracting with the international company Refinitiv to acquire and subscribe to the international lists for the purpose of linking them to the system.    https://www.mawazin.net/Details.aspx?jimare=255331

Prime Minister: The Government Has Made Great Strides In The Financial And Banking Reform File

Banks  Economy News – Baghdad  Prime Minister Mohammed Shia al-Sudani confirmed today, Tuesday, that the government has made great strides in the financial and banking reform file.

The Prime Minister's Media Office stated in a statement received by "Al-Eqtisad News" that "Prime Minister Mohammed Shia Al-Sudani received the US Deputy Secretary of the Treasury, Wally Adeyemo, and a number of officials in the Ministry of Treasury."

He added that "the meeting discussed bilateral economic relations between the two countries in various vital sectors, reviewed the government's efforts and plans for economic and financial reform, the move towards diversifying sources of Iraqi output, enhancing development targets, and practical measures implemented in the field of combating money laundering."

The Prime Minister stressed that "the government has made great strides in the financial and banking reform file, and 95% of bank transfers have been completed through the electronic platform,"

 noting that "less than 5% remains to be completed by the end of this year, after which the transition to the correspondent banking system will take place, in accordance with the government's approach and commitment to raising the capabilities of Iraqi banks, in line with international standards and meeting the needs of the thriving investment environment in Iraq."

For his part, Adeyemo praised "the progress that Iraq is witnessing in the field of economic and banking reforms that were achieved in record time, and the state of economic growth that reached a total of about 6%, which enhances the government's efforts in development, expressing readiness to cooperate and work within a bilateral partnership that serves the interests of economic development." Views 264 09/24/2024 - https://economy-news.net/content.php?id=47942

Al-Sudani Reviews With US Financial Official The Government's Efforts And Plans For Economic And Financial Reform

Tuesday 24 September 2024 | Economic Number of readings: 412  Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani reviewed with US Deputy Secretary of the Treasury, Wally Adeyemo, the government's efforts and plans for economic and financial reform.

A statement from his media office stated that Al-Sudani received, yesterday evening, Monday (Baghdad time), US Deputy Secretary of the Treasury, Wally Adeyemo, and a number of officials in the Ministry of Treasury.

During the meeting, economic relations between the two countries in various vital sectors were discussed, and the government's efforts and plans for economic and financial reform were reviewed, as well as the trend towards diversifying sources of Iraqi output, enhancing development targets, and practical measures applied in the field of combating money laundering.

The Prime Minister confirmed, according to the statement, that the government has made great strides in the financial and banking reform file, and 95% of bank transfers have been completed through the electronic platform, and less than 5% will be completed by the end of this year,

 after which the transition to the correspondent banking system will take place, in accordance with the government's approach and commitment to raising the capabilities of Iraqi banks, in line with international standards and meeting the needs of the thriving investment environment in Iraq.

For his part, Adeyemo praised the progress witnessed by Iraq in the field of economic and banking reforms that were achieved in record time, and the state of economic growth that reached a total of about 6%, which enhances the government's efforts in development, expressing readiness to cooperate and work within a bilateral partnership that serves the interests of economic development. / End 2

https://ninanews.com/Website/News/Details?key=1156985

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

Seeds of Wisdom RV and Economic Updates Tuesday Evening 9-24-24

Good Evening Dinar Recaps,

PRO-CRYPTO SENATE CANDIDATE JOHN DEATON SET TO DEBATE ELIZABETH WARREN IN OCTOBER

▪️John Deaton, a pro-crypto lawyer and Senate candidate, will debate Senator Elizabeth Warren on October 15.

▪️The debate will address key issues, though it remains unclear if cryptocurrency will be a topic of discussion.

▪️Deaton already criticized Sen. Warren for shifting from holding bankers accountable to supporting their interests.

Pro-crypto lawyer John Deaton, the Republican nominee for the Massachusetts Senate, confirmed his participation in a debate with Democratic Senator Elizabeth Warren on October 15.

This marks the first debate between the two, providing a platform to discuss issues affecting voters.

Deaton Accuses Senator Warren of Big Bank Favoritism
In a post on social media platform X (Twitter), Deaton criticized the Democratic Senator for her shift from holding bankers accountable to supporting their interests. He noted that despite her earlier calls for prison sentences for bankers involved in the 2008 financial crisis, she later backed bank bailouts.

Deaton labeled Warren the country’s top lobbyist for big banks, urging voters to focus on politicians’ actions rather than words. He suggested Warren’s actions contradicted her previous promises.

“[Warren] decried how banking executives deserved prison time for causing the Great Financial Crisis – yet she supported the bailouts. Twelve years ago she promised she would go to Washington to hold those bankers accountable. A decade later, those same bankers write her bills,” Deaton stated.

Notably, Deaton has challenged Warren to five single-issue debates. He proposed topics such as immigration, the economy, income inequality, women’s reproductive rights, and foreign policy. Although Warren’s campaign confirmed two October debates, it’s unclear if cryptocurrency will be discussed.

Deaton’s Senate run stems from Warren’s consistent opposition to cryptocurrencies. Over the years, she has become a prominent figure in the Senate’s anti-crypto stance, even advocating for the formation of an “anti-crypto army” to limit the industry’s influence.

Deaton, a vocal supporter of Ripple and other crypto firms facing legal battles with the SEC, has gained backing from key figures in the crypto industry. His supporters include Gemini co-founders Cameron and Tyler Winklevoss, as well as the Commonwealth Unity Fund PAC.

@ Newshounds News™
Source:  BienCrypto

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IOTA Ecosystem Spotlight: The Community Behind Blockchain Innovation

▪️The IOTA ecosystem thrives due to its dynamic community and innovative developer contributions, pushing the boundaries of blockchain technology with groundbreaking projects.

▪️IOTA’s Tangle network relies on nodes and validators for security and stability, while the community extends beyond technology to make significant social impacts.

The IOTA ecosystem has enjoyed major success due to the contributions of the vibrant and dynamic participants. Furthermore, IOTA’s innovative developer community has been driving IOTA’s future by pushing the boundaries of new developments in blockchain technology.

IOTA’s developer community has been working on a few groundbreaking projects shaping the next generation of IOTA tech while boosting the network’s position as a leader in the blockchain space.

▪️IOTA Community Spotlights and Projects @iota

▪️The Power Behind A Successful Blockchain: A Thriving Community.

▪️The secret sauce to every successful blockchain is its vibrant community.

🧵 Let’s dive into IOTA’s dynamic world and the game-changers making waves in the ecosystem. pic.twitter.com/8KbAu7ubBh

▪️— Whiz DeFi (@WhizDefi) September 19, 2024

Another key component of the IOTA ecosystem is its community-driven events, such as meetups and hackathons, that thrive upon new innovations and ideas. 

These gatherings provide a platform for education and collaboration while empowering participants to build new connections and share knowledge.  Besides, they also play a critical role in nurturing the IOTA community while offering opportunities to newcomers and seasoned developers to contribute to the ecosystem’s growth.

As reported by Crypto News Flash, the Tangle community Treasury has introduced “mini-grants” for events to help IOTA-related projects by providing funding for networking and outreach activities.

IOTA Nodes and Validators And Overall Social Impact
As we know, nodes and validators form the backbone of IOTA Tangle while playing a crucial role in ensuring the network’s security, decentralization, and stability.

These nodes and validators are basically individuals and organizations that maintain the integrity of Tangle while keeping the network secure and operational, per the CNF report.

Beyond its technological advancements, IOTA’s community is also making a significant social impact. Many members leverage the platform for philanthropy, sustainability, and other social good initiatives, showcasing the potential of blockchain to drive meaningful change.

By integrating technology with purpose, IOTA is proving that blockchain can be a force for positive societal transformation.

Furthermore, IOTA has been making strong inroads in the European Union and working along with the European Commission for several blockchain-based solutions under the European Blockchain Pre-Commercial Procurement (PCP) program, per the CNF report.

The European Blockchain Sandbox initiative, supported by the European Commission, aims to oversee the development of a pan-European framework for regulatory discussions, as recently detailed by CNF. IOTA’s selected solution is an advanced user authentication system designed to address the challenge of secure and reliable identity verification within the Web3 ecosystem.

@ Newshounds News™

Source:  Crypto News Flash

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DOJ FILES ANTITRUST LAWSUIT AGAINST VISA

Visa accused of monopolistic practices, allegedly stifling competition and raising costs for consumers and merchants.

Key Takeaways
▪️Visa controls over 60% of U.S. debit transactions, with the DOJ accusing it of using its dominance to stifle competition and raise fees.

▪️The DOJ accuses Visa of using restrictive agreements to maintain market  dominance.

The US Department of Justice (DOJ) has filed a civil antitrust lawsuit against Visa, alleging that Visa has unlawfully monopolized the debit network market. Visa is accused of using its dominance to suppress competition, inflate fees, and thwart innovation.

“Visa has unlawfully amassed the power to extract fees far beyond what it could charge in a competitive market,” said Attorney General Merrick B. Garland.

According to the DOJ, Visa, which processes over 60% of debit transactions in the US, has engaged in exclusionary practices that prevent smaller competitors and innovative financial technologies from gaining traction in the debit market.

The DOJ’s lawsuit highlights Visa’s stronghold over the debit market, where it charges $7 billion annually in fees for processing transactions. Visa allegedly leverages its scale and central role in the debit ecosystem to impose restrictive agreements on merchants and banks, penalizing those who use competing debit networks and locking out competition.

“Anticompetitive conduct by corporations like Visa leaves the American people and our entire economy worse off,” said Principal Deputy Associate Attorney General Benjamin C. Mizer.

Visa has allegedly maintained its monopoly by targeting both smaller debit networks and potential technology entrants. The DOJ claims Visa discouraged competition by coercing banks and merchants into agreements committing large transaction volumes to Visa.

The lawsuit also points to Visa’s strategy of “cooperating” with would-be competitors, particularly in the tech industry, to prevent them from offering disruptive alternatives.

The DOJ claims Visa saw tech companies and fintech startups as an “existential threat” and neutralized them by paying them to partner with Visa instead of competing.

“Visa fears competition and innovation, and instead chooses unlawful cooperation and monopolization,” said Principal Deputy Assistant Attorney General Doha Mekki of the DOJ’s Antitrust Division.

The lawsuit against Visa is the latest in a series of antitrust enforcement actions taken by the DOJ to protect competitive markets. In 2020, the DOJ successfully blocked Visa from acquiring Plaid, a fintech company that was developing innovative debit payment technologies.

@ Newshounds News™

Source:   Crypto Briefing  

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JUST IN: HEZBOLLAH ASKS IRAN TO ATTACK ISRAEL.   BRICS Post Link

@ Newshounds News™

Source:  BRICS

~~~~~~~~~

UNDERSTANDING ANTI MONEY LAUNDERING RISK AML  | Youtube

@ Newshounds News™

Source: Seeds of Wisdom Team Currency Facts 

  ~~~~~~~~~

Seeds of Wisdom Team Currency Facts Youtube and Rumble

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Tuesday Evening News With MarkZ and Zester 9-24-2024

Tuesday Evening News With MarkZ and Zester

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: Good Evening Mark Z, Mods, Zester, and Everyone !

Member: What do you think about the October 1st static?

MZ: I think it’s doable…

MZ: The chatter coming out of the banking side has been pretty severe today- in a good way. They say rates are being seen…but I havn’t confirmed them …But I am hearing this from 3-4 different sources that work at different banking institutions….and they all agree on the rate of $3.57 on the screens. ….. I expect it’s all over the dinar boards.

MZ: It’s certainly interesting this is being seen by so many …and the same rate.

Member: Do you think it’s possible for Iraq to keep the new rate quiet like they did in Iraq?

MZ: I think they might be able to keep it quiet a day or two….if they pull the trigger late on a Friday or Saturday  ….but that’s it because of the internet. They will not be able to pull off what they did in Kuwait now.

Member: hey Mark! I may be asking a dumb question but is devaluation and revaluation the same?

MZ: They can be the same- you can revalue down or you can revalue up.

Member: But devaluation always go down I think

MZ: “Iraq Plans Currency Redenomination amid economic challenges”  they are talking openly about redenomination…..deleting the zeros  or make them unnecessary and remove them…and we are seeing this over and over again. Kuwait used the exact same language .

MZ: “Iraq reviews the US Treasury the date of abandoning the currency auction” this is so important. I was told Oct 1st- no more foreign currency auctions. This is the one thing I was told to look for –When they are done with foreign currency auctions…they would revalue. And this news just came out today that they are ending them.…. I can’t wait to hear what MilitiMan has to say about this one.

Member: Thanks Mark and Mods….See everyone in the AM…enjoy the rest of the evening.

Zester joins the stream tonight. Please listen to the replay for his opinions and information

MarkZ New Discord link:  https://discord.com/invite/AxGE6k4pvx

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.

THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL IN THE MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

Youtube:     https://www.youtube.com/watch?v=8V6crSKeoTs

More News, Rumors and Opinions Tuesday PM 9-24-2024

KTFA:

Iraq Plans Currency Redenomination Amid Economic Challenges

9/23/2024

 ERBIL — The Central Bank of Iraq (CBI) has announced that discussions regarding the project to remove zeros from the Iraqi dinar are ongoing, with assessments continuing. The bank also noted a reduction in reliance on the US dollar for trade transactions.

Ali Mohsen al-Alaq, Governor of Iraq's Central Bank, stated that the bank is facing global economic challenges, such as rising energy and raw material prices.

To address these issues, it has amended some monetary policies in line with the international situation, aiming to increase confidence in the Iraqi dinar and prevent a significant decline in its value.

The central bank has also increased its holdings of foreign currency and gold reserves to enhance the country's financial stability and its ability to cope with economic crises in any situation, he added.

Many countries remove zeros from their currencies to revalue the national currency and facilitate financial transactions. This process involves eliminating a certain number of zeros from the nominal value of the currency, making it less inflationary and more stable.

Earlier this year, the Iraqi federal government decided to postpone a plan to remove three zeros from the nominal value of its currency notes, citing that the current economic climate is not suitable.

Last year, the central bank indicated plans to redenominate the Iraqi dinar to simplify financial transactions in an economy that remains heavily centralized and oil-dominated, where deals are often conducted in cash.   LINK

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Clare:  Iraq presents to US Treasury date for abandoning currency auction  

9/24/2024  Economy

The Prime Minister informed Mohammed Shia Al-Sudani, US Treasury Department, keeps only 5% of remittances Foreign It is not done through the electronic platform, and it will be completed by the end of this year, then the transition to correspondent banks.

 He said The office Al-Sudani's media, in a statement received by Sumaria News, said that Al-Sudani received, yesterday evening, Monday (Baghdad time), the US Deputy Secretary of the Treasury, Wally Adeyemo, and a number of officials in the Treasury Department. The meeting witnessed a discussion of bilateral economic relations between the two countries in various vital sectors, a review of the government's efforts and plans for economic and financial reform, the move towards diversifying the sources of Iraqi output, enhancing development targets, and practical measures applied in the field of combating money laundering.

 Al-Sudani stressed that "the government has made great strides in the financial and banking reform file, and 95% of bank transfers have been completed through the electronic platform, and less than 5% remains to be completed by the end of this year, after which the transition to the correspondent banking system will take place, in accordance with the government's approach and its commitment to raising the capabilities of Iraqi banks, in line with the standards.

"Global It meets the needs of the thriving investment environment in Iraq For his part, Adeyemo praised the “progress being witnessed by Iraq In the field of economic and banking reforms that were achieved in record time, and the state of economic growth that reached a total of about 6%, which enhances the government's efforts in development, expressing readiness to cooperate and work within a bilateral partnership that serves the interests of economic development," according to the statement.  LINK

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

Fnu Lnu  I would like to assure the Dinar investor community of a couple of things. There comes a time when common sense and logic must prevail.  There will be NO travel necessary to exchange your Dinar for American dollars (USD). You will not have to go to Jordan, Egypt, or Syria. There will be NO $0.10 revaluation. It was already at the rate of $3.22 to 1 Dinar when the only resource was oil. Dr. Shabibi, the preeminent expert, stated publicly, that Iraq could sustain an $16 to 1 Dinar rate but lets not get greedy. $4.80 is just about right. Stay tuned because I will have a mind bender coming for you next time and it will really make you think.

Jeff  We had five of these articles talking about deleting the zeros...and then one today, so six total within 3 days.  Very amazing ...Removing zeros is getting rid of the large 3-zero notes and replacing them with smaller size currency notes but at an increased value.  So when the rate changes the large notes have the same purchase power before the rate change as the smaller notes after the rate changes.  They would have to increase the value for the currency, strengthen it, to delete the zeros... This news is looking really good.

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

Iqd # Iraq economy

Nader:  9-24-2024

https://www.youtube.com/watch?v=-wfX58nevaw

Will The CBDC Reset Cancel Your Debt? | Clive Thompson

Liberty and Finance:  9-24-2024

Clive Thompson analyzes the recent Federal Reserve interest rate cuts and their potential impact on the economy.

While these cuts may initially seem advantageous for markets, he warns they could indicate more serious problems within the labor market and the broader economic landscape.

Thompson suggests that investors steer clear of cyclical companies and those burdened with high debt during a recession, recommending a focus on consumer staples and utilities as more reliable options.

He expresses concern over rising government debt and the threat of a currency crisis, which could lead to substantial losses for cash and bondholders.

Additionally, Thompson discusses the scenario of debt cancellation during a Central Bank Digital Currency (CBDC) reset.

INTERVIEW TIMELINE:

0:00 Intro

1:10 Rate cut & recession

17:05 CBDC Reset

38:14 Debt cancellation?

https://www.youtube.com/watch?v=xxSgQY6OEkU

Ariel : You hold all the cards now: Play your aces

Ariel : You hold all the cards now: Play your aces

This account exists because the private, membership-only site (S3-Gladiators) I was a part of was shut down. I engaged sparingly, sharing crucial updates on IQD. I connected with three key players through that channel—two of whom some of you have now come to know. Years ago, I was positioned to cash out. You’ve seen my NDA. Some of you wonder if you’ll be signing one yourself.

Understand this: NDAs will not be required unless you choose a private venture with selective banks. Any such decision will be entirely arbitrary, left to your discretion. Not forced. Not coerced. Not imposed. Everything 100% in your control.

On September 30, 2016, at 5:00 am EDT in the Line Islands of the Pacific Ocean, a monumental shift occurred: humanity was liberated legally, morally, and monetarily. The old, oppressive financial structures began their collapse.

The USA, Inc., and the Federal Reserve Bank’s fiat dollar (USD) met its end, replaced by the Republic’s new United States Treasury (UST). This transition marks the rebirth of sovereignty and wealth, with the European Banking Caball surrendering control of the global financial system by October 1st.

The world has been set on an irreversible course towards true independence, driven by a historic offensive to dismantle the remaining power of the 13 bloodlines. The Global Currency Reset (GCR) is transitioning from theory to reality, with the new asset-backed financial system becoming visible across global financial platforms.

 Rate differentials will be recalibrated in accordance with asset-backed algorithms, rendering NDAs obsolete. Once public knowledge is established, no organization can demand secrecy (NDA) for what is already laid bare.

Iraq stands on the precipice of historical announcements that will send ripples through the international financial community. The resurgence of a powerful Iraqi currency will not just symbolize the end of an era but the dawn of another. An order that sees the shackles of centuries-old financial tyranny shattered, ushering in an age of unprecedented global prosperity.

Imagine the magnitude of what this means. A true paradigm shift that redefines the fabric of society and the global economy, allowing you to witness the realization of the true American Dream a dream that was systematically denied to generations.

 Restitution is no longer a distant hope but a reality unfolding before us. This is not just a financial reset; it is the rebirth of human potential, a long-overdue reclamation of freedom and wealth that belongs to us all.

Stand ready, for the future that was once stolen is now being returned. The time has come to claim what is rightfully yours. The world is changing, and you are at the center of it. Prepare for the prosperity and transformation that will reshape history. Do your part. Make known your presence. This will never happen again. Make smart decisions.

~Your Future Stands Regardless Of What Has Befallen You

Source(s):  https://x.com/Prolotario1/status/1838335358603235807

https://dinarchronicles.com/2024/09/24/ariel-prolotario1-you-hold-all-the-cards-now/

Iraq Economic News and Points To Ponder Tuesday Afternoon 9-24-24

Pros And Cons.. Why Doesn't The Central Bank Delete 3 Zeros From The Iraqi Currency?

 Economy   2024-09-24 | Source: Alsumaria News 2,509 views  Alsumaria News – Economy   Economist Nabil Al-Marsoumi said today , Tuesday, that the process of deleting zeros from the currency means replacing a new currency with the old currency with the aim of simplifying the calculation process among consumers, and countries that suffer from high inflation often resort to it and have become unable to deal with paper currencies of very weak value.

Al-Musumi mentioned in a blog post followed by Al-Sumaria had previously implemented News that 54 countries at different times the deletion of a group of zeros from their local currencies due to some of the positives resulting from such a procedure, represented by

      re-evaluating the national currency,

     simplifying financial transactions, and

     streamlining currency units as a necessary condition for reducing accounting numbers and

     facilitating accounting. The

     cost of managing large numbers new and the

     lack of small numbers. He added,

 although the issue of deleting 3 zeros from the Iraqi currency has been receiving attention and study from the Central Bank since 2007, the bank has not yet taken such a measure due to the lack of two important conditions: the

     first is the instability of the dollar exchange rate against the Iraqi dinar and the

     second is political instability.. In addition to the

     disadvantages and risks resulting from it:

 First: The process of deleting the zeros is not a magic solution to the problem of inflation, but rather a formality whose purpose is to give momentum to the Iraqi economy.

Second: Influencing the behavior of consumers and producers, economic variables, and economic relations between Iraq and other countries.

 Third: Deleting the zeros is an imaginary change in the value of the currency and does not change its purchasing power.

 Fourth: It is possible that people will panic and give up their dollar savings and replace them with the Iraqi dinar, which will lead to a large and sudden growth in the monetary supply, which will undermine monetary stability. Iraqi currency

Fifth: The large costs resulting from printing the new.

 Sixth: The emergence of corruption in the process of getting rid of old currency or introducing counterfeit currencies and trying to replace them with the new currency, in addition to the occurrence of money laundering operations.

Seventh: The decision will not affect the competitiveness of Iraqi goods against foreign goods because the majority of transactions are carried out in dollars.

 Eighth: Deleting the zeros will create social problems at this stage due to the inability to convince the public to accept the decrease in the size of the monetary mass while acknowledging that the true value of the money is not affected.

 The issue relates to the mind and memory preservation of large amounts, in addition to the difficulty of settling commercial and personal contracts and agreements.  

 https://www.alsumaria.tv/news/economy/501033/إيجابيات-وسلبيات-لماذا-لا-يحذف-البنك-المركزي-3-اصفار-من-العملة-العراقي    

The "Exposed Operations" Have Been Addressed.. A Specialist Confirms The Decline In Money Laundering Operations In Iraq - Urgent
 
Economy | Today, Baghdad today - Baghdad   Financial affairs specialist Nabil Jabbar Al-Tamimi confirmed today, Tuesday (September 24, 2024), a decline in money laundering operations, while revealing the direct reason for this decline.
 
Al-Tamimi said in an interview with "Baghdad Today",
 
"There is a clear decline in various money laundering operations in Iraq, and
 
this matter came after audits of remittances two years ago.
 
There is great effectiveness in dealing with money laundering operations that were blatantly exposed earlier." He added,
 
"Certainly, money laundering operations are taking place today, but with narrow limits and difficult paths.
 
This is the case in the rest of the countries of the world.
 
Suspicious money is circulated in the markets in the form of losing projects or trades, which are then laundered and granted legitimacy." The financial affairs specialist said,
 
"Usually those who carry out such operations are politicians and senior officials who benefit from corruption and drug traffickers alike in countries where collecting money requires disclosing the sources of that money."

Al-Tamimi concluded by saying, "The issue of the dollar exchange rate in the local market has nothing to do with capital. Rather,
 
this issue is related to issues of supply and demand in the local market."
 
On January 9, 2022, the Ministry of Foreign Affairs announced the removal of Iraq from the European Union’s list of high-risk countries in the field of combating money laundering and terrorist financing, according to a letter the former Prime Minister received from the European Commission mission.
 
In May 2020, the European Commission classified Iraq, along with other countries, including Afghanistan, Pakistan, Syria, Yemen, Iran, and North Korea, on the list of countries that pose financial risks to the European Union, due to deficiencies in combating money laundering and terrorist financing.
 
On February 18, 2020, the Committee for Freezing Terrorist Funds, affiliated with the Secretariat of the Council of Ministers, issued a list that included 84 individuals and entities whose funds had been frozen on charges of financing terrorism, at the request of the UN Security Council. 
 
https://baghdadtoday.news/258497-العمليات-المفضوحة-تمّت-معالجتها.-مختص-يؤكد-تراجع-عمليات-غسيل-الأموال-في-العراق-عاجل.html   

Corruption... How Can It Be Combated?

 Special Sumerian     2024-09-24 | Source:     Sumerian     193 views  Anti-corruption measures... Observers: Eliminating corruption is accompanied by the strength of laws and their application without exceptions

 Observers have pointed out that the legislation in the laws established to combat corruption needs to be reconsidered to strengthen them and apply them without exceptions, and they point out that

neutralizing corruption and cutting off its tributaries occurs through the power of legislation, which is one of the tasks of the Parliament.

staff Alsumaria spoke to some of those concerned with this file, here is what they said!  

 https://www.alsumaria.tv/news/alsumariaspecial/501040/الفساد-كيف-يمكن-مكافحته؟    

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