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Iraq Economic News and Points to Ponder Sunday Afternoon 2-1-25
As Part Of Its War On Counterfeiting, Iraq Enhances The Security Of Its Currency With Improved Marks And Printing New Banknotes
Economy 11:47 - 2025-02-01 Today's News - Follow-up Attentions in Iraq are directed towards the efforts made to protect the national currency and enhance its economic security. In this context, the Central Bank of Iraq's disclosure of a set of modern security marks that have been added to the circulating banknotes comes as a qualitative step that reflects the keenness to keep pace with global developments in the field of currency printing and security.
As Part Of Its War On Counterfeiting, Iraq Enhances The Security Of Its Currency With Improved Marks And Printing New Banknotes
Economy 11:47 - 2025-02-01 Today's News - Follow-up Attentions in Iraq are directed towards the efforts made to protect the national currency and enhance its economic security. In this context, the Central Bank of Iraq's disclosure of a set of modern security marks that have been added to the circulating banknotes comes as a qualitative step that reflects the keenness to keep pace with global developments in the field of currency printing and security.
On January 19, the Central Bank of Iraq unveiled the security marks of the circulating banknotes, with the aim of educating the public, as well as companies and commercial banks that deal with these banknotes on a daily basis, reviewing these improved security marks, through a technical bulletin, in which it indicated the introduction of prominent marks on the new banknotes to enable the visually impaired to identify the banknote denominations by touch.
Mazhar Muhammad Salih, the economic advisor to the Prime Minister, confirmed in a statement followed by Al-Rasheed, that Iraq's decision to print a new currency is a natural decision that comes within the state's efforts to protect its national currency and enhance its security.
Salih explained that since the first issuance of the currency in 1934, Iraq has printed its currencies at the largest international printing companies, with the exception of the blockade period when the state was forced to resort to local printing.
He pointed out that Iraq still relies on the largest international companies specialized in printing currency, which are companies with a good reputation and high reliability and adhere to the highest international safety standards. He pointed out that this matter is of great importance to the economic security of Iraq and global security in general.
He added that Iraq reprinted its currency after 2003 with the largest international companies, including British and German companies. He explained that reprinting currency is a routine procedure that is carried out periodically to replace damaged papers and introduce new security improvements to the currency to protect citizens from counterfeiting and money laundering.
He stressed that these procedures come within the framework of the state's keenness to protect citizens' economic rights and ensure the stability of the Iraqi economy. He pointed out that the Central Bank of Iraq is the only body authorized to issue currency in accordance with the law, and there is strict security control over the printing and circulation process to prevent the entry of counterfeit currency into the country.
Saleh stressed that the cost of reprinting a single currency is very simple, not exceeding cents compared to its benefits, and that this procedure is an integral part of the policy of central banks around the world to maintain the stability of national currencies and protect national economies. https://today-agency.net/Details/33106
A Battle Against Counterfeiters And Money Laundering.. How Is Iraq Seeking To Protect The National Currency?
Posted on2025-02-02 by sotaliraq All eyes in Iraq are on the efforts being made to protect the national currency and enhance its economic security. In this context, the Central Bank of Iraq revealed a set of modern security features that have been added to the circulating banknotes as a qualitative step that reflects the keenness to keep pace with global developments in the field of printing and securing currencies.
On January 19, the Central Bank of Iraq unveiled the security features of the banknotes in circulation, with the aim of raising awareness among the public, as well as companies and commercial banks that deal with these banknotes on a daily basis.
It reviewed these improved security features through a technical bulletin, in which it indicated the introduction of prominent features on the new banknotes to enable the visually impaired to identify the banknote denominations by touch.
Battle Against Counterfeiters And Money Laundering
Mazhar Mohammed Salih, economic advisor to the Prime Minister, confirmed that Iraq’s decision to print a new currency is a natural decision that comes within the state’s efforts to protect its national currency and enhance its security.
Saleh explained that since the first issuance of the currency in 1934, Iraq has printed its currencies at the largest international printing companies, except for the period of the blockade when the country was forced to resort to local printing.
He pointed out that Iraq still relies on the largest international companies specialized in printing currencies, which are companies that enjoy a good reputation, high reliability and adhere to the highest international safety standards. He pointed out that this matter is of great importance to Iraqi economic security and global security in general.
He added that Iraq reprinted its currency after 2003 by the largest international companies, including British and German companies. He explained that reprinting the currency is a routine procedure that is carried out periodically to replace damaged papers and introduce new security improvements to the currency to protect citizens from counterfeiting and money laundering.
He stressed that these measures come within the framework of the state's keenness to protect citizens' economic rights and ensure the stability of the Iraqi economy. He pointed out that the Central Bank of Iraq is the only body authorized to issue currency in accordance with the law, and there is strict security control over the printing and circulation process to prevent the entry of counterfeit currencies into the country.
Saleh stressed that the cost of reprinting one currency is very simple, not exceeding cents, compared to its benefits, and that this procedure is an integral part of the policy of central banks around the world to maintain the stability of national currencies and protect national economies.
A Good Step.
Financial and banking researcher Mustafa Hantoush believes that the process of printing new currency to replace damaged ones or add to the market in exchange for real balances in international banks is a correct step.
Hantoush said that Iraq is continuing the process of printing local currency to be used in replacing the damaged currency that was originally issued or to be used in issuing a new currency for the first time in exchange for real balances in international banks, indicating that Iraq actually has an excellent balance of foreign currencies and gold and it balances them against any dinar that it prints and it is one of the best equivalents in the world.
He explained that the process of adding security signs to a new currency is a correct process and not a mistake; Iraq in any case needs a currency print to replace the damaged one, and if it has better security features, it is a good sign, especially since issuing the new currency, whether with new security signs or the same as the previous one, will be at the same cost, so there is no problem with it.
He stressed that the issue is not related to a radical change in the form of the currency, but rather it is the same currency but with better security specifications.
Iraqi parliament member Haitham Al-Zarkani stressed that the Central Bank’s talk about steps to issue a currency with security solidity is a commendable effort.
Al-Zarkani explained that any steps to make the Iraqi currency solid and globally accepted are of utmost importance, especially since the Iraqi currency is rarely used in neighboring countries due to the instability of exchange rates and the non-recognition of it by some Arab and European countries as a global currency.
Al-Zarkani attributed this weakness to cases of counterfeiting, noting that issuing a currency that takes into account security aspects and meets the needs of the visually impaired represents an important step on the security, humanitarian and economic levels at the same time, without wasting resources or diminishing the value of the Iraqi currency in global markets.
In 2018, the Central Bank of Iraq issued a second edition of banknotes in denominations (25,000, 10,000, 1,000, 500, 250), and in 2013, it introduced some technical and technological updates to the 2003 edition, except for the (50) dinar denomination, which was withdrawn from circulation in 2015.
At the end of 2015, it issued the (50,000) dinar denomination to complete the current series in circulation.
For his part, economic expert Safwan Qusay confirmed that the Central Bank is striving to make paper currency more secure and difficult to counterfeit and manipulate, by moving towards supporting the policy of financial inclusion and shifting to electronic transactions.
However, Qusay pointed out that the process of withdrawing and issuing money with a higher security force does not pose any risks, especially since the circulating monetary mass of 100 trillion dinars (about 76 billion dollars) is under the control of the Central Bank and there is no new issuance of the currency in a different form, but rather it is merely a replacement of the type of currency existing in the market.
Qusay added that this policy is followed in all countries of the world, as currencies require modern technologies to reduce the possibility of counterfeiting and forgery.
Regarding the Central Bank’s talk about using special inks to serve the visually impaired, the expert confirmed that there is a real interest in this category, and that the process of selecting international printing presses specialized in producing currencies is carried out with high precision to ensure their quality and safety, explaining that the process of caring for the visually impaired comes from the Central Bank’s keenness to meet the needs of all segments of society, and that this decision was not arbitrary, but rather came in response to a real need that the bank had identified in the market.
Qusay stressed that replacing or improving the quality of prints is in line with the Central Bank’s directives to all banks, and that this step will not affect citizens’ confidence in the currency in circulation, noting that the main focus currently is on achieving financial inclusion and enhancing the use of credit cards to ensure the speed and security of transactions and protect the local market from any external interference. LINK
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/
Seeds of Wisdom RV and Economic Updates Sunday Afternoon 2-2-25
Good afternoon Dinar Recaps,
INDIAN CRYPTO HOLDERS FACE 70% TAX PENALTY ON UNDISCLOSED GAINS
India will impose tax penalties of up to 70% on undisclosed crypto gains as part of new regulations under Section 158B of the Income Tax Act.
Cryptocurrency traders in India may face significant tax penalties on previously undisclosed profits under new amendments to the country’s tax laws.
Cryptocurrencies will be included under Section 158B of the Income Tax Act, which reports undisclosed income, according to Indian Finance Minister Nirmala Sitharaman’s Union Budget 2025 announcement.
Good afternoon Dinar Recaps,
INDIAN CRYPTO HOLDERS FACE 70% TAX PENALTY ON UNDISCLOSED GAINS
India will impose tax penalties of up to 70% on undisclosed crypto gains as part of new regulations under Section 158B of the Income Tax Act.
Cryptocurrency traders in India may face significant tax penalties on previously undisclosed profits under new amendments to the country’s tax laws.
Cryptocurrencies will be included under Section 158B of the Income Tax Act, which reports undisclosed income, according to Indian Finance Minister Nirmala Sitharaman’s Union Budget 2025 announcement.
The amendment allows cryptocurrency gains to be subject to block assessments if not reported, placing them under the same tax treatment as traditional assets like money, jewelry and bullion.
Crypto will fall under the definition of Virtual Digital Assets (VDAs), according to the new amendment, which states:
“Crypto asset has been defined in section 2(47A) of the Act under the existing definition of Virtual Digital Asset[…] A reporting entity, as may be prescribed under section 285BAA of the Act, will be required to furnish information of crypto asset.”
The new crypto tax proposition will be retrospectively applicable from Feb. 1, 2025.
At the end of December 2024, India’s Minister of State for Finance, Pankaj Chaudhary, said the government had found 824 crore Indian rupees ($97 million) in unpaid goods and service taxes (GST) by several crypto exchanges.
The report came a few months after Indian law enforcement agencies demanded 722 crore Indian rupees ($85 million) in unpaid taxes from Binance in August.
Crypto traders face up to 70% tax penalty on undisclosed crypto gains
As a sign of concern for cryptocurrency holders, Indian authorities may issue a tax penalty of up to 70% on previously undisclosed crypto profits.
This penalty may apply to crypto gains that remained undisclosed for up to 48 months after the relevant tax assessment year, according to the document, that wrote:
“70% of the aggregate of tax and interest payable on additional income disclosed in the updated income tax return [ITR].”
The amendments come two weeks after Bybit exchange suspended its services in India on Jan. 10, citing regulatory pressure as it continues to pursue a full operational license from India’s Financial Intelligence Unit.
Crypto tax laws are gaining prominence worldwide
Crypto tax laws gained increased interest worldwide in June 2024 after the US Internal Revenue Service (IRS) issued a new crypto regulation, which will make US crypto transactions subject to third-party tax reporting requirements for the first time.
Starting in 2025, centralized crypto exchanges (CEXs) and other brokers will start reporting the sales and exchanges of digital assets, including cryptocurrencies.
This decision could push crypto investors to decentralized platforms in a “paradoxical situation” that could make tax revenue harder to track, Anndy Lian, author and intergovernmental blockchain expert, told Cointelegraph.
Showcasing the crypto industry’s backlash, the Blockchain Association filed a lawsuit against the IRS in December 2024, arguing that the rules are unconstitutional because they include decentralized exchanges under the “broker” term, extending data collection requirements to them.
@ Newshounds News™
Source: CoinTelegraph
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SOCIAL SECURITY NUMBERS ARE A PRIVACY LIABILITY
Hundreds of millions of SSNs have been leaked online already, but a privacy-focused identity solution could help fix the problem.
@ Newshounds News™
Read more: CoinTelegraph
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UBS TESTS DIGITAL GOLD PRODUCT ON ETHEREUM LAYER-2 WITH INNOVATIVE BLOCKCHAIN SOLUTIONS
▪️UBS is testing a digital gold investment product using blockchain technology.
▪️The product offers fractional gold investment and real-time pricing features.
▪️This initiative highlights the integration of fintech and blockchain in finance.
Union Bank of Switzerland (UBS), the largest bank in Switzerland, has initiated trials for a digital gold investment product on the Ethereum $2,956-based ZKsync layer-2. The bank is testing gold trading operations using blockchain technology to enhance functionality on a global scale.
Trial Process and Product Details
The product being tested, UBS Key4 Gold, allows users to trade gold units on-chain. It provides individual investors the opportunity to invest in fractional gold while offering real-time pricing, deep liquidity, and secure physical storage options.
Blockchain Technology and Strategies
In this trial, UBS utilized the ZKsync Validium solution under a proof of concept (PoC) framework. The goal was to improve scalability, privacy, and interoperability, contributing to the product’s global expansion.
UBS Key4 Gold operates on a permissioned blockchain infrastructure known as the UBS Gold Network. This network connects vaults, liquidity providers, and distributors, ensuring technical support for the product. It is seen as a step toward the digitization of the gold market.
The testing process is considered significant for establishing a robust technical infrastructure for the product. Additionally, fluctuations in the ZK token price are being closely monitored within the context of market volatility.
The trial provides important insights into the digitization in the fintech sector and the application of blockchain technology in finance. Various technical tests and applications can serve as a guide for the product’s integration into global markets.
@ Newshounds News™
Source: CoinTurk
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More News, Rumors and Opinions Sunday Afternoon 2-2-2025
TNT:
Clare: Iraq imports over 50 kilograms of gold daily: Ministry
Iraq imports between 50 to 75 kilograms of gold daily excluding the Kurdistan Region, the planning ministry said on Wednesday, adding that gold imports are only allowed through airports.
“50 to 70 kilograms of gold is imported daily through the airports,” Iraqi planning ministry spokesperson Abdul Zahra al-Hindawi told Rudaw.
The imported gold arrives through Baghdad, Basra, Najaf, and Kirkuk airports, according to Hindawi.
TNT:
Clare: Iraq imports over 50 kilograms of gold daily: Ministry
Iraq imports between 50 to 75 kilograms of gold daily excluding the Kurdistan Region, the planning ministry said on Wednesday, adding that gold imports are only allowed through airports.
“50 to 70 kilograms of gold is imported daily through the airports,” Iraqi planning ministry spokesperson Abdul Zahra al-Hindawi told Rudaw.
The imported gold arrives through Baghdad, Basra, Najaf, and Kirkuk airports, according to Hindawi.
While the amount of gold imported does not include the Kurdistan Region, Hindawi said that the ministry has expressed its readiness to coordinate with authorities in the Region to organize the process and obtain accurate numbers.
Gold is also imported through Erbil and Sulaimani airports, both of which have a center for inspecting gold and expensive jewels.
Government regulations in Iraq only permit gold to be imported through the airports.
In late December, a gold inspection center was opened in Kirkuk airport, which authorized the import of gold.
Sheikh Mustafa Abdulrahman, president of the Kurdistan Region’s Importers and Exporters Union, told Rudaw in December 2023 that the Kurdistan Region has become the center of gold trade in the region. link
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Tishwash: Iraq's dollar reserves exceed $100 billion
Economic expert, Basem Jamil Antoine, revealed Iraq’s dollar reserves.
Antoine told {Euphrates News} that: "The Iraqi gold reserve is good and it is preferable for the reserve to be larger than it is now and commensurate with the size of Iraq's dollar reserve, which currently amounts to more than 100 billion dollars."
He explained that "these assets must be converted into production in the economic and private sectors to create job opportunities for the unemployed and reduce poverty rates," stressing "the need for local reliance in production and not resorting to imports."
Antoine pointed out "the importance of converting surplus cash liquidity into a productive sector that is capable of protecting the country and providing food security in all sectors."
The economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed via {Euphrates News} Iraq's gold reserves, which are estimated at about 152 tons.
Salih explained that its approximate value in the country's foreign investment portfolio is about 14 billion dollars, which constitutes about 13% of the total diversification of that portfolio, which is distributed in standard proportions between other foreign currencies. link
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 The fact that Trump has sent his new Secretary of Treasury people along with the Treasury Secretary is gigantic. What do you think they're talking about, the Super Bowl next week? Of course not. They're talking about what they're about to do, to give [Iraqi citizens] purchasing power.
Militia Man Article: "Al-Sudani opens the 48th session of the Baghdad International Fair" The event is underway with 20 countries and up to 1,000... Iraq is looking for the international and Arab investors to come into Iraq. All of which are looking for doing business with assurances they can invest in a secure and stable economic environment...It has been openly stated they have that and will continue with the support of the international community noted by...the United Nations directly this week. This is very good to see.
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Gold’s Historic Breakout: A Simple Breakdown of a Complex Collapse
VRIC : 2-1-2025
When Confidence Is Lost, HYPERINFLATION ENSUES
Lynette Zang: 2-2-2025
Today's video is about confidence, breaking down the stages of lost confidence, and how it effects you and your security!
States vs. IRS Battle Over Sound Money
States vs. IRS Battle Over Sound Money
Liberty and Finance: 2-1-2025
Amid growing economic uncertainty and a renewed focus on financial stability, a powerful movement is gaining traction across the United States: the push to recognize gold and silver as legal tender.
In a recent discussion on Liberty and Finance, host Dunagun Kaiser and Jason Cozens, CEO of Glint, delved into the intricacies of this burgeoning effort, exploring its potential impact on everything from capital gains taxes to the everyday use of gold as a transactional currency.
States vs. IRS Battle Over Sound Money
Liberty and Finance: 2-1-2025
Amid growing economic uncertainty and a renewed focus on financial stability, a powerful movement is gaining traction across the United States: the push to recognize gold and silver as legal tender.
In a recent discussion on Liberty and Finance, host Dunagun Kaiser and Jason Cozens, CEO of Glint, delved into the intricacies of this burgeoning effort, exploring its potential impact on everything from capital gains taxes to the everyday use of gold as a transactional currency.
Cozens revealed the strong grassroots support driving this initiative, emphasizing that it’s not just a fringe idea but a movement fueled by everyday citizens concerned about preserving their purchasing power. He also highlighted the significant involvement of key financial figures actively working to champion gold legislation at the state level.
This convergence of citizen advocacy and financial expertise is creating a powerful force for change.
The core of the argument, as explained by Cozens, lies in the state’s role in safeguarding its citizens’ buying power. In an era of volatile markets and fluctuating fiat currencies, the argument for sound money – historically anchored in precious metals – resonates with many.
By recognizing gold and silver as legal tender, states can empower their residents with a more stable and reliable form of currency, potentially better weathering economic storms.
Beyond serving as a store of value, the discussion also touched upon the practical implications of making gold a transactional currency.
Cozens drew attention to Glint, his company, which offers a platform for people to use gold-backed accounts for everyday purchases. This demonstrates the increasing feasibility of using gold beyond merely an investment asset, highlighting its potential to serve as a genuine form of money for daily transactions.
The conversation also explored the potential changes to gold-related tax policies and legislation. The recognition of gold and silver as legal tender could significantly impact how they’re taxed, particularly in regards to capital gains. This is a key factor that policymakers will need to address as the movement continues to gather steam.
The discussion concluded with a strong affirmation of the importance of sound money in a healthy economy.
With the potential for states to act as incubators for innovative financial practices, the movement to recognize gold and silver as legal tender is more than just a nostalgic throwback to a bygone era. It’s a forward-thinking approach aimed at protecting individuals’ financial well-being and fostering a more resilient economic future.
As the conversation illuminated, the quest for sound money is no longer confined to financial circles; it’s a growing demand echoing from Main Street, and state legislatures are starting to take notice.
The implications, as Kaiser and Cozens pointed out, could reshape the financial landscape as we know it.
Seeds of Wisdom RV and Economic Updates Sunday Morning 2-2-25
Good Morning Dinar Recaps,
TRUMP-IMPOSED TARIFFS TO BEGIN TUESDAY AS MEXICO, CANADA ANNOUNCE RETALIATORY RESPONSE
▪️President Trump on Saturday signed an executive order imposing 25% tariffs on imports from Canada and Mexico, with a 10% tariff on Canadian energy and oil, and an additional 10% tariff on China.
▪️The implementation of the tariffs was delayed to Tuesday at 12:01 am.
▪️Mexico’s President Sheinbaum announced the country would implement both tariff and non-tariff retaliatory measures, while Canadian PM Trudeau said Saturday night Canada would implement 25% tariffs on a swath of American goods in response.
Good Morning Dinar Recaps,
TRUMP-IMPOSED TARIFFS TO BEGIN TUESDAY AS MEXICO, CANADA ANNOUNCE RETALIATORY RESPONSE
▪️President Trump on Saturday signed an executive order imposing 25% tariffs on imports from Canada and Mexico, with a 10% tariff on Canadian energy and oil, and an additional 10% tariff on China.
▪️The implementation of the tariffs was delayed to Tuesday at 12:01 am.
▪️Mexico’s President Sheinbaum announced the country would implement both tariff and non-tariff retaliatory measures, while Canadian PM Trudeau said Saturday night Canada would implement 25% tariffs on a swath of American goods in response.
President Trump on Saturday declared steep tariffs on all imported goods from Canada, Mexico, and China, setting the stage for a trade war with the U.S.'s largest trading partners.
Trump set the tariffs at 25% on Canada and Mexico, with a 10% carve-out for Canada's oil and energy exports, and a 10% tariff on all goods from China.
Though the tariffs were initially set to go into effect on Saturday, Feb. 1, the implementation was delayed to Tuesday, Feb 4, at 12:01 am. The tariffs will be imposed on top of any existing tariffs, and have been implemented in response to the flow of illegal drugs into the United States, according to the White House.
"The government of Mexico has afforded safe havens for the cartels to engage in the manufacturing and transportation of dangerous narcotics, which collectively have led to the overdose deaths of hundreds of thousands of American victims," a White House fact sheet states.
Mexico's President Claudia Sheinbaum was the first to announce retaliatory tariffs and non-tariff measures in response, in a post on X Saturday evening.
In the post, Sheinbaum proposed that the U.S. and Mexico establish a working group to combat criminal organizations, warned against using tariffs to solve problems, and forcefully denounced the White House's accusation that the Mexican government has alliances with drug cartels.
"I instruct the Secretary of Economy to implement Plan B that we have been working on, which includes tariff and non-tariff measures in defense of Mexico's interests," a translation of Sheinbaum's post reads.
The Canadian government will also levy counter-tariffs on American goods in response. Canadian Prime Minister Justin Trudeau said in an address to Canadians Saturday night that the country would implement 25% tariffs on a large swath of American goods. Trudeau also said that non-tariff responses affecting the energy sector were being considered.
The Canadian government's response may eventually include export tariffs on energy, Bloomberg reported Saturday, setting the stage for a critical trade war between the U.S. and its largest foreign energy supplier.
The price of energy factors heavily into the cost of mining Bitcoin in the U.S., which has an estimated 36% share of the global hashrate, according to mining firm Luxor.
The Block's GMCI 30 index of the top 30 crypto tokens by market cap is down about 4% over the past 24 hours as the market responds to Trump's executive order.
@ Newshounds News™
Source: The Block
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ARGENTINA DESIGNS FORENSIC PROTOCOLS TO FIGHT CRYPTO CRIME
Argentina has designed and established identification and forensic protocols to guide security and police forces in standardizing their actions to fight crypto crime.
Argentina Establishes Forensic, Identification, and Seizing Protocols for Crypto Crimes
Argentina has taken another step toward empowering its public servants to fight crypto crime.
The Nation’s Security Ministry recently issued Resolution 117/2025, which describes the procedures that public servants, including police and federal security forces, must follow when dealing with digital assets possibly linked to crime.
The protocol, which Argentine authorities must now follow, seeks to standardize the necessary processes to prevent the loss or alteration of digital assets in official procedures.
In the same way, the resolution recognizes and identifies that cryptocurrencies are tools that are being used in money laundering and terrorism financing schemes.
Because of this, the Security Ministry has established the need to strengthen the research and tracking of these assets when they are involved in criminal activities.
With this move, Argentina jumps to the forefront of Latam regarding the treatment of crypto-related crime and recognizes the relevance of digital assets as money proxies.
And with a good reason: the country has been home to several high-profile crypto frauds affecting thousands, mostly related to investment fraud and Ponzi schemes.
The Security Ministry is aware of this crypto crime wave and has been preparing a suite of tools to combat it. In December, the ministry established that the security forces should prevent “unauthorized financial intermediation through the use of cryptoassets,” vowing to preemptively track possibly criminal behavior derived from their usage.
Argentine authorities scored major wins in crypto crime cases last year. In September, one of the first crypto seizures was executed in a money laundering operation that mixed phone smuggling activities and illegal online casinos.
Also, In December, Argentine law enforcement agencies requested the freezing of 3.5 million USDT linked to Rainbowex, an alleged Ponzi scheme. This marked the first time Argentine law authorities interacted directly with Tether in a criminal case, issuing an order for this objective.
@ Newshounds News™
Source: Bitcoin News
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6 Life-Winning-Lessons From a “Who Wants to Be A Millionaire” Contestant
Who Wouldn’t Want to Be a Millionaire: 6 Life-Winning-Lessons From a “Who Wants to Be A Millionaire” Contestant
By Financial Imaginer
What would you do if you received a $ 1 million jackpot? How does it actually feel to receive a windfall? What to do with it and how could it impact your life in the short, medium and long run?
Let’s first think about what you could possibly do with a large financial windfall?
Who Wouldn’t Want to Be a Millionaire: 6 Life-Winning-Lessons From a “Who Wants to Be A Millionaire” Contestant
By Financial Imaginer
What would you do if you received a $ 1 million jackpot? How does it actually feel to receive a windfall? What to do with it and how could it impact your life in the short, medium and long run?
Let’s first think about what you could possibly do with a large financial windfall?
– splurge (Sir? The Lamborghini in same gold as the Maybach?)
– take a sabbatical and travel to exotic locations, sipping martinis all day long
– travel to Vegas (all or nothing)
– re-invest in lottery tickets
– buy a house and/or pay-off your mortgage
– invest all into Vanguard ETFs and draw an annual $40,000 forever (Trinity study, 4% withdrawal rate)
– keep calm and carry on
Here’s what a Financial Imagineer would do with a $ 1 million windfall:
Keep calm and carry on!
Keep calm and carry on!
You find this hard to believe?
Looking through all the above options, this clearly appears to be the most boring choice. But hey, I’ve got a rather personal story for you guys today. Let me explain.
Once upon a time, I won a windfall myself.
I wanted to be a Millionaire.
We write the year 2001, my most crazy side-hustling days: During daytime, I was usually studying business administration and economics. Frequently, after sundown, you’d find me baking up to 200 pizzas each night at the first pizza home delivery franchise in my hometown. Saturdays, you’d find me advising clients at a bank counter and Sundays I’d be running the local polling station in our village.
Some wondered if I’d ever catch some sleep.
One evening, I was sitting on our couch watching the Swiss edition of “Who wants to be a Millionaire” on TV3. Somehow, none of the contestants ever seemed to make it past the first 10 questions. It got boring and frustrating. It quickly became painful for me to keep watching. I knew and appreciated the show from abroad and generally liked it because you usually learnt something while watching – infotainment. The entertainment value of the local version was rock-bottom. This tickled a nerve.
Instead of applying the ordinary way, I sent a feedback letter asking them to invite more suitable candidates in order to improve the infotainment value of their show. Little did I know that my written rant would be read and acted upon. Before I knew it, we – my then girlfriend and myself – got invited to participate as contestants at the TV show “Who Wants to Be a Millionaire”.
Turn sound on, click “play” and listen as you read on! https://www.youtube.com/watch?v=OYVAxLJE1ww
News, Rumors and Opinions Sunday AM 2-2-2025
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.
RV Excerpts from the Restored Republic via a GCR: Update as of Sun. 2 Feb. 2025
Compiled Sun. 2 Feb. 2025 12:01 am EST by Judy Byington
Judy Note: What comes next? The Global Alliance tells us Ten Days of Darkness and a Global Currency Reset that puts all countries’ gold/asset-backed currencies on a 1:1 value with each other and back under control of The People.
Sat. 1 Feb. 2025 Project Odin=EBS …JFK Awakening Q17 on Telegram
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.
RV Excerpts from the Restored Republic via a GCR: Update as of Sun. 2 Feb. 2025
Compiled Sun. 2 Feb. 2025 12:01 am EST by Judy Byington
Judy Note: What comes next? The Global Alliance tells us Ten Days of Darkness and a Global Currency Reset that puts all countries’ gold/asset-backed currencies on a 1:1 value with each other and back under control of The People.
Sat. 1 Feb. 2025 Project Odin=EBS …JFK Awakening Q17 on Telegram
This will release the NESARA/GESARA funds and then we the people will begin to rebuild. This event is truly biblical.
Many events will also take place such as:
Bitcoin Server/Data Center will be hacked and shut down forever
99.5% of cryptocurrencies will disappear, including Chinese Coins
ISO20022 coins backed by Precious Metals will be available
The stock market collapsed
Quantum system
Nesara / Gesara / RV
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Possible Timing: (RUMORS)
On Wed. 15 Jan 2025 Trump (allegedly) signed the classified “Gold Directive,” the Cabal’s hidden vaults having been seized. Their gold, stolen for centuries, was now being returned to The People through the QFS.
As of 28 Jan. 2025 Redemption Centers were(allegedly) processing massive amounts of gold-backed currency daily. The banks were powerless. They know their system was finished, and they were scrambling to hold on.
Wed. 29 Jan. 2025 was the Chinese New Year – Julian Assange said that “the Blackout has begun. All systems are go. The EBS is live in certain areas” and last week JFK Jr. said, “The Plan Never Changed. It was Always February. The Chest Will Open Very Soon!”
Month of Feb: The Plan Never Changed. It was Always February. The Chest Will Open Very Soon!” …John F. Kennedy Jr. on Telegram
Mon. 3 Feb. QFS (allegedly) Activates Worldwide
Sun. 9 Feb. QFS(allegedly) becomes fully operational with intense military operations.
In Aug. 2025 the U.S. Treasury will (allegedly) send out a computer algorithm to each bank to zero debt balances in a Debt Jubilee. The banks will (allegedly) then zero out all mortgage debt, credit card debt, car debt, etc. On Wednesday, July 10, 2024 the Debt Jubilee was (allegedly) legalized by Trump. Citizens do not have to contact their debtor to ask for the Debt Jubilee. Watch for your new zero balance statement coming out sometime in August. …JFK Awakening on Telegram
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Global Financial Crisis:
Sat. 1 Feb. 2025: Why is President Trump placing massive tariffs on the European Union? Lagarde: Well, because even the European Central Bank President couldn’t dispute the fact that they have been ripping the United States off for decades. …EBS on Telegram
Read full post here: https://dinarchronicles.com/2025/02/02/restored-republic-via-a-gcr-update-as-of-february-2-2025/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Jeff Question: "How long should we wait to go to the bank if we are not needing money ASAP? In other words do you think it will start floating fairly quickly or will it take some time?" This will be a managed float, which means it can only change plus or minus 10% per day...When the rate changes it'll come out somewhere around the $3.80 range. That's my opinion. I don't think it's going to go over $4 until going into the 2025 budget period...I think it's going to stay below $4 during our 90-day window to exchange. I wouldn't worry about time waiting for it to float... Get it exchanged. Don't wait for this to go up in value because I don't think you're going to have that opportunity or time frame.
Frank26 [Iraq boots-on-the-ground report] FIREFLY:Mr. Sammy says...we see Germany, France, Egypt they're all saying to us, 'just do it.' And ones [investors that arrived] today all praising Iraq saying we are stable and we want to do business with Iraq. Even Kuwait who has the strongest currency in the world is now coming in and supporting us...It's looking pretty good. FRANK: Kuwait holds the most powerful currency in the Middle East but we see the whole world running to Iraq, not Kuwait? ...They know the potential of the float of your currency on an international level is going to be insane. Iraq is the prettiest girl in town and everyone wants to kiss her.
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Greg Mannarino: Pandemonium - Debt Market Time-Bomb Now Ready To Implode
Good as Gold Australia: 2-2-2025
In this latest interview, Darryl and Brian Panes from As Good As Gold Australia interview the one and only Greg Mannarino "The Robin Hood of Wall Street".
The world's economy is in tatters. Is the message getting across to the populous at large or are we sinking further into the mire.
Greg provides his thoughtfull insights into this probing question - a must listen.
With many central banks buying up physical gold, will we see a gold standard money supply system in the near future?
In Australia, just over 2 years ago, we had a parliamentary vote on discontinuing cash as a form of money. It was well and truly voted against until at least 2030. Why is it important to have cash as an option?
In Australia in 2024, gold increased in price by 36%. If we go back exactly one year to the day, the price of gold is up over 40%. In the last 5 years, the price of gold has risen 90% (approx. 18% per year).
Everybody talks about the S&P 500 or the Dow Jones, but nobody talks about this spectacular rise in gold - why not?
When you do the calculations on the rise of the world debt and in particular the United States, you can see that the debt level is uncontrollable using fiat currencies, and in effect, debt is impossible to reduce.
History shows that only gold and silver as money will control debt.
Why is this fact seemingly not recognised by our politicians? Since 1971 in the US, there has been a doubling of the debt every 8-10 years. Egon Von Greyerz confirms it is about to accelerate.
How much longer before the system implodes and where to for gold and silver in 2025? Greg's response to all of these questions makes this interview a must-listen - we will be doing this again!
“Tidbits From TNT” Sunday Morning 2-2-2025
TNT:
Tishwash: Iraqi Parliament Approves First Amendment to General Budget Law for 2023-2025
The Iraqi Parliament voted, on Sunday, on the draft law of the first amendment to the Federal General Budget Law of the Republic of Iraq for the fiscal years (2023 - 2024 - 2025) No. (13) of 2023.
For his part, independent MP Ahmed Majeed announced in a statement to Shafaq News Agency that members of the House of Representatives from the central and southern governorates boycotted the parliament session held today, considering that voting on the budget is "a violation of the law and the internal regulations of the council due to the lack of a legal quorum."
Majeed explained that "the number of representatives present does not exceed 140 representatives, which means that the quorum is not achieved," stressing that they doubt the legitimacy of the session.
TNT:
Tishwash: Iraqi Parliament Approves First Amendment to General Budget Law for 2023-2025
The Iraqi Parliament voted, on Sunday, on the draft law of the first amendment to the Federal General Budget Law of the Republic of Iraq for the fiscal years (2023 - 2024 - 2025) No. (13) of 2023.
For his part, independent MP Ahmed Majeed announced in a statement to Shafaq News Agency that members of the House of Representatives from the central and southern governorates boycotted the parliament session held today, considering that voting on the budget is "a violation of the law and the internal regulations of the council due to the lack of a legal quorum."
Majeed explained that "the number of representatives present does not exceed 140 representatives, which means that the quorum is not achieved," stressing that they doubt the legitimacy of the session.
He added: "We will file an appeal with the Federal Court against the House of Representatives for violating the law and proceeding with the vote on amending the budget law."
The Iraqi Council of Representatives held its fourth session of the first legislative term of the fourth legislative year a short while ago, headed by the First Deputy Speaker of the Council, Mohsen Al-Mandalawi, with the attendance of 176 representatives, and the boycott of about 50 representatives.
A parliamentary source told Shafaq News Agency, "The representatives of the Central and Southern Front boycotted the session in protest against the amendment of the budget law. The number of representatives of the Front is about 50 representatives, most of whom are independents."
The representative of the Central and Southern Front, Raed Al-Maliki, said during a press conference held in the parliament building with the participation of the representatives and attended by a Shafaq News Agency correspondent, "We are a group of representatives from the central and southern governorates who boycotted the parliament session on Sunday because of the paragraph amending the budget law."
Al-Maliki added, "We requested that there be a joint administration with the regional government, and that companies be obligated to review contracts, and that other articles be reviewed, including Article 14 of the budget law, in addition to other articles and the deficit in the budget law."
He stressed, "Our demands relate to implementing the rights of the central and southern governorates and financing the government contracting expenses of companies contracting with local governments."
Parliament Speaker Mahmoud Al-Mashhadani, who is currently visiting the Iranian capital Tehran, announced before his departure that Parliament will approve today, Sunday, amending the general budget in accordance with the text sent by the Council of Ministers.
Earlier today, the Coordination Framework, which brings together Shiite political forces, revealed the existence of a political agreement to pass the amendment to the budget law during the session of the Iraqi parliament scheduled to be held today.
The representative of the framework, Mohammed Radhi, told Shafaq News Agency, "There is a political agreement to pass the amendment to the budget law during today's session, as the text of the amendment was mentioned by the Iraqi government. There is a political and parliamentary will and desire to support the government's steps to resolve the differences with the region."
Radi added, "The agreement to pass the amendment to the budget law came in order to push the government to expedite sending the 2025 budget schedules, as no one wants to disrupt this budget, to prevent obstructing the construction and reconstruction process, and launching many strategic and important projects during this year."
The Finance Committee of the Iraqi Council of Representatives announced yesterday, Saturday, that the Council of Representatives will vote in today’s session, Sunday, on the government’s proposal to amend Article 12 of the General Budget Law.
The draft amendment to Article 12 of the Budget Law includes two paragraphs, the first of which relates to the costs of producing and transporting the Kurdistan Region’s oil after determining the actual estimated costs through the advisory body.”
As for the second paragraph, it stipulates that if the federal and regional governments do not agree on the costs of production and transportation, the Ministry of Oil shall choose a party to determine those costs, and as a result the cost of extracting oil from the oil fields in the region shall be calculated.
In June 2023, the Iraqi Parliament voted on the draft general budget law for the fiscal years (2023, 2024, 2025). link
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Tishwash: Economist: The Iraqi market is centralized and 40 investment laws need to be reviewed and amended
Economic expert Abdul Rahman Al Mashhadani confirmed today, Friday, that the problem facing foreign investors in Iraq is not limited to the security and political situation only, but rather it is a complex problem.
Al-Mashhadani added to Al-Furat News Agency that "talking about attracting investments is not limited to a specific region, but rather depends on the general situation in the country."
He explained that "the investment climate in Iraq requires several factors, including the political factor and the conflict between the blocs, in addition to the investment laws that need to be reviewed, as their number has reached about 40 laws."
He pointed out that "there are paragraphs in these laws related to the economy in general."
Al-Mashhadani pointed out that "the Iraqi government is moving towards a capitalist economy and following a market economy according to the principle of supply and demand, which means that the government cannot interfere in all economic details."
He pointed out that "the current laws were enacted a long time ago, and are not compatible with the nature of the current stage." link
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Tishwash: Al-Sudani: Iraq's debts have fallen to their lowest levels and investments have exceeded 60 billion dinars
Prime Minister Mohammed al-Sudani said on Saturday, February 1, 2025, that Iraq's external debts have fallen to their lowest levels, noting that foreign investments in Iraq have exceeded 60 billion dinars.
The International Monetary Fund warned in a report of a doubling of debt in Iraq, through an increase in the deficit, as it expected “the public finance deficit to reach 7.6% in 2024 and to widen further after that with the expected gradual decline in oil prices in the medium term,” leading to “a near doubling of public debt from 44% in 2023 to 86% by 2029.”
Al-Sudani's media office stated in a statement seen by "Ultra Iraq" that "he opened the 48th Baghdad International Fair this evening, Saturday, with the participation of (1250) companies, in various specializations, representing 22 Arab and foreign countries."
He also "delivered a speech in which he welcomed the representatives of the companies and entities participating in this year's session, which witnessed the return of companies that had been absent from previous sessions, which is an important addition to establishing productive and promising partnerships and stronger cooperation that enhances facing challenges and draws a map of economic growth."
Al-Sudani said, "The real standard for success is the citizen's satisfaction and positive interaction with what the executive service apparatus provides, in addition to economic reform," indicating that "Iraq is heading towards the widest urban movement in the field of housing, and work has begun within the new city projects to reach approximately one million housing units."
He added: "We announced a project to add 15-20 thousand megawatts of electricity production to the national grid, and raise production to the highest levels in meeting the demand for energy." He also said: "We worked to achieve actual participation in clean and renewable energy production projects after it was just talk and statements."
He continued: "After implementing the reforms, foreign investments coming to Iraq exceeded 60 billion dinars, which is a clear indication of the reassurance of capital," and "the government provided a business-friendly investment environment, and legal and moral protection enjoyed by investors and companies operating in Iraq."
He pointed out to "building understandings and agreements with international partners and global financial institutions, and granting sovereign guarantees to the private sector to establish a strategic partnership with industrial countries and major economies," stressing that "the government's steps contributed to consolidating the position of the Iraqi economy, raising the level of credit confidence internationally, and reducing external debt to its lowest levels."
He explained that "the people's project development path will be the most effective to link Asia and Europe, passing through Iraq and the Middle East," and that "the door is open to everyone to contribute to the development path, and the opportunities that will be available on both sides for industrial economic cities and free trade zones."
Last year, Mazhar Muhammad Salih, Al-Sudani’s financial advisor, pointed out a “decrease in the amount of external debts due,” which appeared in the “allocations for external debt payments” in the 2024 budget compared to the 2023 budget schedules “with a difference of a decrease of more than one billion dollars,” due to “Iraq’s regularity in paying its external debts due annually, of which only about 20 billion dollars remain.” link
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Mot: . Um, FYI...
Mot: . Family Notice!!!!!!
Iraq Economic News and Points to Ponder Saturday Evening 2-1-25
Economist: The Iraqi Market Is Centralized And 40 Investment Laws Need To Be Reviewed And Amended
Time: 2025/01/31 19:48:47 Read: 2,055 times {Economic: Al Furat News} Economic expert Abdul Rahman Al Mashhadani confirmed today, Friday, that the problem facing foreign investors in Iraq is not limited to the security and political situation only, but rather it is a complex problem.
Al-Mashhadani added to Al-Furat News Agency that "talking about attracting investments is not limited to a specific region, but rather depends on the general situation in the country."
Economist: The Iraqi Market Is Centralized And 40 Investment Laws Need To Be Reviewed And Amended
Time: 2025/01/31 19:48:47 Read: 2,055 times {Economic: Al Furat News} Economic expert Abdul Rahman Al Mashhadani confirmed today, Friday, that the problem facing foreign investors in Iraq is not limited to the security and political situation only, but rather it is a complex problem.
Al-Mashhadani added to Al-Furat News Agency that "talking about attracting investments is not limited to a specific region, but rather depends on the general situation in the country."
He explained that "the investment climate in Iraq requires several factors, including the political factor and the conflict between the blocs, in addition to the investment laws that need to be reviewed, as their number has reached about 40 laws."
He pointed out that "there are paragraphs in these laws related to the economy in general."
Al-Mashhadani pointed out that "the Iraqi government is moving towards a capitalist economy and following a market economy according to the principle of supply and demand, which means that the government cannot interfere in all economic details."
He pointed out that "the current laws were enacted a long time ago, and are not compatible with the nature of the current stage." LINK
Iraq Faces Crucial Economic Choices.. Will It Resort To Austerity?
Time: 2025/02/01 16:21:45 Read: 3,180 times {Economic: Al Furat News} In light of the escalating economic challenges, Iraq finds itself at a financial crossroads that requires decisive decisions that may affect the future of public spending. With increasing pressures on financial resources and rising deficit levels, questions are increasing about the possibility of the government resorting to austerity policies to control the financial balance.
Economic expert Salah Nouri considered the austerity policy as an immediate solution that the government could resort to if the Ministry of Finance faces difficulty in providing liquidity due to risks including the decline in oil prices.
Nouri told {Euphrates News} that: "The Central Bank relies on providing liquidity in the Iraqi dinar as much as it has international reserves {gold, dollar, euro}; but this is specific to the Central Bank, which uses it to implement monetary policy to stabilize the dollar exchange rate by meeting external imports.
" He added, "This process went through several stages {currency auction, electronic platform, transfer through limited foreign banks} after the agreement with the US Federal Reserve."
Nouri continued, "As for the liquidity for the Ministry of Finance to implement the general budget, it depends on the amounts of oil revenues, as it buys the dollar at the current exchange rate approved in the budget {1310} dinars, and thus the decline in oil revenues makes it difficult for the Ministry of Finance to implement the federal general budget, and this is what the government is currently facing, represented by the Ministry of Finance."
He pointed out that "the Central Bank's reserves will be indirectly affected if oil sales revenues decrease, and in return, the unregulated import process continues, which the Central Bank meets with dollars, and will use part of the international reserve {the Central Bank's dollar stock}
The economic expert believes that "the Ministry of Finance will face difficulty in providing liquidity due to the risks {the decline in oil prices, the amount of oil exports through OPEC Plus, problems with the region, the US Federal Reserve's strict policy and monitoring of dollar transfers}".
He noted that "the government resorted to an austerity budget by canceling unnecessary expenses and regulating other items as possible short-term solutions, but in the long term, which is supposed to be implemented for many years, supporting the agricultural sector to provide agricultural crops and basic food products; to reduce imports and provide hard currency, in addition to industrial production, whether through the government sector or the private sector." LINK
Minister Of Commerce: The Government Has Adopted Strategic Projects And The Ministry Has Facilitated Procedures For Local And Foreign Investors.
Saturday 01 February 2025 | Economic Number of readings: 164 Baghdad / NINA / Minister of Trade Athir Al-Ghariri confirmed today, Saturday, that the government has achieved self-sufficiency in wheat and adopted strategic projects, while indicating that the ministry has facilitated procedures for local and foreign investors.
Al-Ghariri said in a speech during the opening of the 48th session of the Baghdad International Fair: "The government has achieved self-sufficiency in wheat."
He added, "We have facilitated procedures for local and foreign investors," indicating that "the government has adopted strategic projects." https://ninanews.com/Website/News/Details?key=1183214
"Investment - Development - Prosperity" .. The 48th Session Of The Baghdad International Fair Begins This Evening
Saturday 01 February 2025 | Economic Number of readings: 291 Baghdad / NINA / The activities of the 48th session of the Baghdad International Fair will start at six o'clock this evening, Saturday, in the capital, Baghdad, under the slogan "Investment - Development - Prosperity", with the participation of 20 Arab and European countries, and more than 1000 local and international companies, under the patronage of Prime Minister Mohammed Shia Al-Sudani and organized by the Ministry of Trade. The exhibition will continue daily until the seventh of February. / E
https://ninanews.com/Website/News/Details?key=1183155
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/
USD Devaluation Is Coming, Gold Repricing, Negative Rates, Monetary Reset & Deep Seek - Luke Gromen
USD Devaluation Is Coming, Gold Repricing, Negative Rates, Monetary Reset & Deep Seek - Luke Gromen
TFTC: 2-1-2025
Luke Gromen breaks down why the U.S. dollar faces massive devaluation and why negative rates are inevitable. He explains the mechanics of Treasury gold repricing from $42/oz, potential Bitcoin integration into Treasury markets, and how China's Deep Seek AI development changes global power dynamics.
The conversation covers impending financial system changes, from gold's role as a neutral reserve asset to the necessity of negative real interest rates for 2-3 years.
Gromen details how private markets are already adapting through Bitcoin-collateralized instruments and stablecoin Treasury requirements.
USD Devaluation Is Coming, Gold Repricing, Negative Rates, Monetary Reset & Deep Seek - Luke Gromen
TFTC: 2-1-2025
Luke Gromen breaks down why the U.S. dollar faces massive devaluation and why negative rates are inevitable. He explains the mechanics of Treasury gold repricing from $42/oz, potential Bitcoin integration into Treasury markets, and how China's Deep Seek AI development changes global power dynamics.
The conversation covers impending financial system changes, from gold's role as a neutral reserve asset to the necessity of negative real interest rates for 2-3 years.
Gromen details how private markets are already adapting through Bitcoin-collateralized instruments and stablecoin Treasury requirements.
0:00 - Intro
0:59 - Tariffs
4:53 - DeepSeek
12:32 - Bessent's reset
17:19 - Fold & Bitkey
19:14 - Liquidity crisis and the big print
26:05 - Speculating on a deal with China
30:19 - Unchained
31:20 - Europe is losing
38:47 - Gold price and SBR
45:45 - History of gold's official price
50:26 - Is the bandaid coming off soon?
55:26 - Bitcoin-backed lending
1:02:04 - There's hope for cooler heads
1:13:29 - SAB 121 repeal
Iraq Economic News and Points to Ponder Saturday Afternoon 2-1-25
Dinar.. Currency and Symbol - Abdul Karim Ahmed Al-Zaidi
January 31, 2025 When a country has its own local currency that it uses in internal transactions, it is inevitably affected by external trade transactions, which require, through financial relations, dealing in foreign currency, which is what we call hard currency that we need in import operations and other financial payments for the various transactions of the country outside its borders.
For this reason, the importance of preserving the value of the local currency appears, and what is meant in our country is the Iraqi dinar with its equivalent value of hard currency in the external trade environment.
Dinar.. Currency and Symbol - Abdul Karim Ahmed Al-Zaidi
January 31, 2025 When a country has its own local currency that it uses in internal transactions, it is inevitably affected by external trade transactions, which require, through financial relations, dealing in foreign currency, which is what we call hard currency that we need in import operations and other financial payments for the various transactions of the country outside its borders.
For this reason, the importance of preserving the value of the local currency appears, and what is meant in our country is the Iraqi dinar with its equivalent value of hard currency in the external trade environment.
The responsibility for this process and preserving the value of the local currency falls on the Ministry of Finance, as it is authorized in these transactions in coordination with the Ministry of Trade and other bodies within its jurisdiction.
What concerns us here, considering that our country is still in dire need of supplying its people’s needs of materials, goods and local market requirements and its reliance on selling crude oil as an economic resource, is to maintain the value of the local currency and enhance its purchasing power against foreign currencies.
To be fair in our presentation of the subject, the Ministry of Finance has done its best in attempts to support the local currency and reduce its impact on the exchange of its equivalent in hard currency.
Perhaps the most prominent of these is offering the sale of hard currency in the financial markets at a price that competes with the inflation in the exchange rate of hard currency and monitoring the implementation of its instructions in the commercial dealings market in an attempt to stop the decline in the value of the local currency.
However, the situation, as it seems, does not represent an ideal solution to this situation after all commercial dealings and markets have become parallel to the exchange value. This matter requires a scientific and practical way out that preserves the value of the local currency and restores its prestige among foreign currencies and strongly fights all efforts to weaken its immunity and weaken its ability to compete again with other circulating currencies.
Perhaps Iraqis remember the market dealings with simple and metal money and small coins, which are not far away, and this is frankly what prompted me to review the history of the beginning of the birth of the Iraqi dinar in the year 1932, and after it was It was linked to the US dollar after 1959, so that each Iraqi dinar became equal to 2.8 US dollars.
It maintained its value until 1973, when it became equal to 3.37 per US dollar after the United States devalued its currency in 1972.
Unfortunately, the situation did not remain the same after Iraq devalued its currency, and the dinar remained in circulation equal to 3.2 per US dollar. It maintained its circulation until the Second Gulf War in 1991, despite the fact that the exchange rate of the Iraqi dinar on the black market was 3 dinars per dollar in late 1989.
I repeat that the supervisory authorities and the Central Bank of Iraq have a responsibility to work on finding a way out of this crisis and to overcome the weakness of the local currency with solutions that go beyond the short-sighted view that many financial and economic experts still resort to without any salvation, and to bring life back to the Iraqi dinar after a long period of slumber and weakness. LINK
Iraq's Dollar Reserves Exceed $100 Billion
Time: 2025/02/01 19:38:08 Read: 1,980 times {Economic: Al Furat News} Economic expert, Basem Jamil Antoine, revealed Iraq’s dollar reserves.
Antoine told {Euphrates News} that: "The Iraqi gold reserve is good and it is preferable for the reserve to be larger than it is now and commensurate with the size of Iraq's dollar reserve, which currently amounts to more than 100 billion dollars."
He explained that "these assets must be converted into production in the economic and private sectors to create job opportunities for the unemployed and reduce poverty rates," stressing "the need for local reliance in production and not resorting to imports."
Antoine pointed out "the importance of converting surplus cash liquidity into a productive sector that is capable of protecting the country and providing food security in all sectors."
The economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed via {Euphrates News} Iraq's gold reserves, which are estimated at about 152 tons.
Salih explained that its approximate value in the country's foreign investment portfolio is about 14 billion dollars, which constitutes about 13% of the total diversification of that portfolio, which is distributed in standard proportions between other foreign currencies. LINK
Central Bank Records Explosive Sales During The Week
01/02/2025 Mawazine News – Economy The total sales of the Central Bank of Iraq of US hard currency exceeded one billion dollars during the days of the auction last week.
Mawazine News correspondent reported that the Central Bank sold during the past week and for the 4 days of the auction, one billion, 166 million, 384 thousand, and 363 dollars, at a daily average of 291 million, 596 thousand, and 90 dollars, higher than last week, when the average sales amounted to 294 million, 385 thousand, and 330 dollars.
The highest sales of the dollar were on Tuesday, when sales amounted to 299 million, 950 thousand, and 287 dollars, while the lowest sales were on Wednesday, when sales amounted to 283 million, 18 thousand, and 598 dollars.
Our correspondent indicated that foreign remittance sales during the past week amounted to one billion, 95 million, 234 thousand, and 363 dollars, compared to cash sales that amounted to 71 million, 150 thousand dollars. https://www.mawazin.net/Details.aspx?jimare=259238
Dollar Prices Fall In Baghdad And Stabilize In Erbil With Closing
Saturday 01 February 2025 16:39 | Economic Number of readings: 189 Baghdad/ NINA / The dollar prices decreased in the markets of Baghdad and Erbil governorates with the closing of the stock exchange.
The dollar prices recorded a decrease with the closing of the Al-Kifah and Al-Harithiya stock exchanges to record 150,400 dinars for every 100 dollars, while the prices were 150,500 dinars for every 100 dollars this morning.
The selling prices in the field of exchange in the local markets in Baghdad reached 151,500 Iraqi dinars for every 100 dollars, while the purchase reached 149,500 dinars for every 100 dollars.
As for Erbil, the dollar recorded stability, as the selling price reached 150,250 dinars for every 100 dollars, and the purchase price was 150,150 dinars for every 100 dollars. https://ninanews.com/Website/News/Details?key=1183187
Al-Sudani: Iraq Is Fertile Ground For All Economic Dreams
Money and business Economy News – Baghdad Prime Minister Mohammed Shia Al-Sudani confirmed, on Saturday, that Iraq is fertile ground for all economic dreams, while indicating that the country is on the verge of the largest urban movement in the field of housing.
Al-Sudani said in a speech during the opening of the 48th session of the Baghdad International Fair, which was followed by "Al-Eqtisad News", "Today we open the 48th session of the Baghdad International Fair to be an addition that inspires hope and aspiration for productive and promising partnerships and stronger cooperation that enhances facing challenges and draws a map of prosperity and confident economic growth."
He added, "I welcome the representatives of 1,250 companies and entities participating in this year's session, which carries messages of communication and constructive partnership plans from 22 sisterly and friendly countries," indicating that "this year's exhibition is being held while Iraq is witnessing a continuous and active movement in every sector and detail of the economy, industry, agriculture, infrastructure, services and energy."
He continued, "We have completed more than twenty-seven months of connected and complementary plans and programs in order to bring about a tangible and clear change within the ceiling of expectations and ambitions carried by the honorable Iraqi citizen," adding, "We have stressed since the start of the government's work that the real criterion for success is the citizen's satisfaction and positive interaction with what the executive service apparatus provides, along with the deep-rooted and long-term economic reform."
He added: "We want the Baghdad Exhibition to be a forum for understanding and a meeting platform where opportunities, understandings and offers gather and companies study the available windows for contribution to the development movement in Iraq," stressing that "Iraq is heading towards the widest urban movement in the field of housing."
Al-Sudani said: "We have a promising and accelerating health sector that we have moved forward in by completing dozens of stalled hospital projects, in addition to adopting the method of joint management and operation and activating health insurance," noting that "foreign investments in Iraq have exceeded 60 billion."
He explained that "all of this comes in addition to building relationships, understandings and agreements with international partners and major global financial institutions," noting that "the strategic development path that extends from the port of Faw to the northern borders and Turkey is linked to the most effective and cheapest trade routes in management and operation, linking Asia and Europe through Iraq and the Middle East." https://economy-news.net/content.php?id=52415
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/
Seeds of Wisdom RV and Economic Updates Saturday Afternoon 2-1-25
Good Afternoon Dinar Recaps,
BRICS CURRENCY: KREMLIN SAYS NO PLANS FOR A COMMON CURRENCY
According to the Kremlin, Russia and BRICS do not have plans for a common currency, contrary to previous reports. Following threats from US President Donald Trump to impose tariffs on the BRICS nation for creating such a currency, the bloc insists that no such plans exist.
Trump on Thursday warned BRICS member countries about replacing the U.S. dollar as a reserve currency by repeating a threat of 100% tariffs he had made weeks after winning the November presidential election.
Good Afternoon Dinar Recaps,
BRICS CURRENCY: KREMLIN SAYS NO PLANS FOR A COMMON CURRENCY
According to the Kremlin, Russia and BRICS do not have plans for a common currency, contrary to previous reports. Following threats from US President Donald Trump to impose tariffs on the BRICS nation for creating such a currency, the bloc insists that no such plans exist.
Trump on Thursday warned BRICS member countries about replacing the U.S. dollar as a reserve currency by repeating a threat of 100% tariffs he had made weeks after winning the November presidential election.
“The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER,” the President said on Truth Social.
“We are going to require a commitment from these seemingly hostile Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy.“
Kremlin Denies BRICS Currency Developments
However, Kremlin spokesman Dmitry Peskov says BRICS, of which Russia is a founder, was not talking about setting up its own currency, but merely about creating joint investment platforms. He added U.S. experts should brief Trump in more detail about what BRICS is doing.
BRICS has been in active discussions about developing its own common currency for years. The talks have become more concrete in the last year, with more nations joining in and interest in the bloc growing.
Despite the story of BRICS looking to overthrow the greenback, the bloc recently insisted it’s not pursuing de-dollarization. Peskov’s statement doubles down on this, saying that the bloc never wanted to abandon the USD altogether, simply providing an alternative for countries who have lost trust in the US currency.
More countries are ditching the US dollar for local currency alternatives as the greenback faces continuous pressure. Donald Trump’s tariff plan also stands to put the greenback in more jeopardy, isolating it from countries out East. While Trump is looking to save the US dollar from opposition, he could in turn be adding to the nation’s current economic rivals.
@ Newshounds News™
Source: Watcher Guru
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XRP LAWSUIT NEWS: CAN ACTING SEC CHAIR MARK UYEDA DROP THE RIPPLE CASE?
▪️Ripple CEO Talks to Trump – Discussions heat up over XRP as a potential U.S. national digital asset reserve.
▪️Ripple Case Removed from SEC Website – What does this move indicate? Settlement rumors spark speculation.
▪️Acting SEC Chair's Role – Why it's unusual for an Acting Chair to drop Ripple's high-profile case.
The ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has fueled widespread speculation about a potential settlement. Recent developments suggest that the resolution of this case could be closer than expected, with some pointing to key signs indicating a possible outcome.
Ripple’s CEO Talks to Trump About XRP as National Digital Reserve
One factor intensifying speculation is the revelation that Ripple’s CEO, Brad Garlinghouse, has had direct discussions with President Donald Trump regarding XRP as a potential U.S. national digital asset reserve. While the idea of XRP becoming a national reserve asset remains uncertain, the fact that such discussions are happening is seen as a major development.
Ripple Case Removed from SEC Website: What Does It Mean?
The recent removal of the Ripple case from the SEC’s website is also being widely discussed. While this move has sparked rumors about an imminent settlement, experts warn against reading too much into it.
Sherrie, a well-known expert in the XRP community, said that the SEC didn’t move the case; it’s actually been concluded and is now listed under Award Claims. Once the case was appealed, it received a new case number and can be found on the Court of Appeals website.
Challenges in Dropping the Case: Acting SEC Chair’s Role
When a user enquired about why acting Chairman Mark Uyeda has not yet dropped the case, she explained that it would be unusual for an acting SEC Chair to drop a high-profile case like Ripple’s. Normally, these big cases are handled by the official Chairman
It would be unusual for an Acting Chair to take such a liberty as to drop a high profile case such as Ripple’s. Generally these big cases are dealt with by the actual Chairman. Atkins has an estimated time of getting approved by the Senate around April,
She Wrote.
@ Newshounds News™
Source: Coinpedia
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CIRCLE’S USDC STABLECOIN OFFICIALLY GOES LIVE ON LAYER-1 CHAIN APTOS (APT)
Circle’s dollar-pegged stablecoin USDC has officially gone live on the layer-1 chain Aptos (APT).
Aptos’ native token, APT, is up on the news, surging by 5.5% in the past 24 hours.
The 38th-ranked crypto asset by market cap is trading at $7.91 at time of writing.
Coinbase, the top US crypto exchange, has already added Aptos-native USDC to its listing roadmap.
In November, Aptos first announced that it planned to integrate USDC, as well as the fintech giant Stripe’s payment services.
Stripe will provide a fiat on-ramp for the Aptos network. The payments firm reemerged in the crypto sector in October when it rolled out support for USDC settlements. It had previously enabled payments made using Bitcoin (BTC) until 2018, when the firm discontinued its support, citing BTC’s lack of utility as a payments rail.
Native USDC stablecoins are officially issued by Circle and are redeemable 1:1 for US dollars. USDC is the second-largest stablecoin with a market cap of more than $53 billion, second only to Tether’s USDT, which has a market cap of nearly $140 billion.
Despite its gains in the past day, APT remains down by more than 5% in the past seven days and more than 10% in the past month.
@ Newshounds News™
Source: DailyHodl
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Thank you Dinar Recaps
News, Rumors and Opinions Saturday 2-1-2025
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.
RV Excerpts fro the Restored Republic via a GCR: Update as of Sat. 1 Feb. 2025
Compiled Sat. 1Feb. 2025 12:01 am EST by Judy Byington
Judy Note: On Thurs. 30 Jan. 2025 the privately owned Fed officially (allegedly) dropped dead – with the privately owned IRS on it’s way to a shadowy grave – when the US Treasury withdrew from the Cabal’s Bankrupt Central Banks across the World.
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.
RV Excerpts fro the Restored Republic via a GCR: Update as of Sat. 1 Feb. 2025
Compiled Sat. 1Feb. 2025 12:01 am EST by Judy Byington
Judy Note: On Thurs. 30 Jan. 2025 the privately owned Fed officially (allegedly) dropped dead – with the privately owned IRS on it’s way to a shadowy grave – when the US Treasury withdrew from the Cabal’s Bankrupt Central Banks across the World.
For some time the new US Treasury has been (allegedly)located on an Indian Reservation near Reno Nevada, along with tons of gold collected from the Cabal since Trump took office in 2016 – all awaiting a Global Currency Reset – which was said to be on it’s way.
This week the Quantum Financial System was said to be fully operational for completion of that Global Currency Reset.
Judy Note: What We Think We Know as of Sat. 2 Feb. 2025:
On Fri. 31 Jan. 2025: The highest ranking official in the US Treasury, David Lebryk, resigned today rather than comply with a request by Elon Musk of the Department of Government Efficiency (DOGE), for access to an audit where the Treasury spent trillions a year. …Treasury official exits after DOGE request for payment systems access
On Fri. 31 Jan. 2025: Trump announced he is imposing tariffs on the European Union
Thurs. 30 Jan. 2025: U.S. Department of the Treasury Withdraws from the Network of Central Banks and Supervisors for Greening the Financial System. …Press Release, US Dept. of Treasury (In other words, the Fed is dead).
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Global Currency Reset and NESARA/GESARA Debt Jubilee:
According to JFK Jr. on Telegram:
Fri. 31 Jan. 2025 Wolverine: “I can’t say much, just that we are very close. Get ready.”
Last week JFK Jr. announced that The Plan had always been set for Feb. 2025. It was assumed that meant activation of the Quantum Financial System (Mon. 3 Feb. 2025 through Sun. 9 Feb 2015.) which would be accompanied by Ten Days of Worldwide Communication Darkness.
Thurs. 30 Jan. 2025: A late call from England indicated we are in for an awakening between now and Sun. 2 Feb. Two Iraqi doctors who practice in the state and were clients of mine have bank debit cards that reactivated at $4.75 per Dinar.
Month of Feb: The Plan Never Changed. It was Always February. The Chest Will Open Very Soon!” …John F. Kennedy Jr. on Telegram
Mon. 3 Feb. QFS set to Activate Worldwide
Sun. 9 Feb. QFS set to become fully operational with intense military operations.
“In Aug. 2025 the U.S. Treasury will send out a computer algorithm to each bank to zero debt balances in a Debt Jubilee. The banks will then (allegedly) zero out all mortgage debt, credit card debt, car debt, etc. On Wednesday, July 10, 2024 the Debt Jubilee was (allegedly) legalized by Trump. Citizens do not have to contact their debtor to ask for the Debt Jubilee. Watch for your new zero balance statement (allegedly) coming out sometime in August.” …JFK Awakening on Telegram
In Aug. 2025 during a Debt Jubilee, the U.S. Treasury announced they will (allegedly) send out a computer algorithm to each bank to zero out all mortgage debt, credit card debt, car debt and other debt balances.
Back on Wed. 10 July 2024 that Debt Jubilee was legally (allegedly) authorized for America by President Trump after he and JFK Jr. had been installed as President and Vice President of the new American US Republic. It was assumed that other nations participating in the Global Currency Reset would follow with their own Debt Jubilee.
Read full post here: https://dinarchronicles.com/2025/02/01/restored-republic-via-a-gcr-update-as-of-february-1-2025/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 Donald Trump already sent his new Secretary of Treasury to Iraq. Moments after he was signed in, Trump to his Secretary of Treasury, go see Sudani and Alaq at the CBI. Lock yourself up behind closed doors. Don't come home until mission is accomplished...It's close.
Bruce [via WiserNow] President Trump sent our Treasury Secretary Scott Bessent...to Iraq to make sure that they got everything done – the new rate – and everything was ready to go from Iraq’s point of view... he was told...Don't come back until you believe it's done. So he's planning to fly back and be home to the states by noon Saturday...So I'm gonna say likelihood is good for us finally to come to an end of this ride. We get notified as early as Saturday or Sunday, and then get started to exchange maybe on Monday or Tuesday...That's where we are right now...that's what I'm hearing.
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The Fed Just Admitted Defeat Against Inflation
Heresy Financial: 2-1-2025
TIMECODES
00:00 Fed Pause & Long-Term Rate Trends
01:16 FOMC Wording & Inflation Reality
02:38 Lessons from the 70s: Repeating Rate Mistakes
03:21 Fiscal Policy & Liquidity Drain
04:39 Quantitative Tightening & Market Volatility
05:52 Natural vs. Neutral Rate Debate
07:45 Radical Proposal & Final Thoughts
LIVE! "Invest In GOLD AND CRUDE OIL." Says The Wall Street SUPERBANK Goldman Sachs.
Greg Mannarino: 1-31-2025