News, Rumors and Opinions Saturday 1-11-2025

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 Sat. 11 Jan. 2025

Compiled Sat. 11 Jan. 2025 12:01 am EST by Judy Byington

Global Financial Crisis:

Fri. 10 Jan. 2025: Rep. Buddy Carter has just introduced a bill to abolish the IRS and the Federal Income Tax.

Fri. 10 Jan. 2025: Major department store is closing 27 locations across 14 states. A major US retailer announced Thursday that it will be shutting down 27 locations across 14 states this year. Of those locations, 10 are located in California.  https://www.msn.com/en-us/money/companies/major-department-store-is-closing-27-locations-across-14-states/ss-BB1rdQ59

Read full post here:  https://dinarchronicles.com/2025/01/11/restored-republic-via-a-gcr-update-as-of-january-11-2025/

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

Frank26   Question:  "What do you think Iraq's time to allow international to exchange our notes?  That's their prerogative.  Normally when something like this happens the IMF works with that central bank of that country and they figure out a time frame.  It can be three months...six months.  It can be a year.  The Untied Sates of America never cancelled our 3 zero notes... America never stopped allowing 3 zero notes to be exchanged but I got a feeling Iraq will and they should.

Militia Man  Article: "Al-Nusairi: Explains the new mechanism for external transfers after the platform is closed"  We have been following this and we have been spot on...They finally have done what was expected. This is to get the Central Bank back to normalcy...with international standards. That it a fact. A very good thing to have had correct all along [in our] study of the Iraqi Dinar...

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Silver Price ALERT: Why Andy Schectman Calls It the Opportunity of a Lifetime! | Silver Price 2025

Economy Express:  1-10-2025

Silver Price ALERT: The Untold Story Behind Andy Schectman’s Opportunity of a Lifetime! In today's video, we delve into the critical insights shared by Andy Schectman regarding the silver market and why he believes it represents an unparalleled investment opportunity.

 As the global economy faces unprecedented challenges, Schectman warns that the true value of silver is being suppressed, and a significant price discovery is imminent.

We explore the implications of Federal Reserve policies, rising interest rates, and the systemic risks facing banks. Discover how silver can serve as a hedge against inflation and why now is the time to consider diversifying your portfolio into tangible assets.

https://www.youtube.com/watch?v=4yRn39cG7fs

UN in Turmoil: BRICS Breaks the Chain of Western Control: End of US Influence as We Know It?

Fastepo:  1-11-2025

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

Seeds of Wisdom RV and Economic Updates Saturday Morning 1-11-25

Good Morning Dinar Recaps,

NEW HOUSE FINANCIAL SERVICES LEADERSHIP TARGETS DIGITAL ASSET REGULATION

The House Financial Services Committee has chosen leadership with an eye toward digital asset regulation.

Rep. French Hill (R-Ark.) announced the new appointments Thursday (Jan. 9), promising to “right-size the regulatory system for particularly community banks,” and “create a regulatory framework for digital assets that will protect investors and consumers.”

In addition, Hill said the committee would “ensure agencies are focused on their core statutory directed missions” and not political agendas.

The committee’s vice chairman — a position held by Hill in the last term — will be Rep. Bill Huizenga (R-Mich.). In addition, Hill said, Rep. Mike Lawler (R-N.Y.) will serve as vice chair for communications, and Rep. Mike Haridopolos (R-Fla.) will be committee whip, the latter to “ensure our Republicans are working together toward our common goal.”

In addition, the committee has announced chairs for its various subcommittees, including: Rep. Ann Wagner (R-Maine), Capital Markets; Rep. Andy Barr (R-Ky.), Financial Institutions; Rep. Bryan Steil (R-Wis.), Digital Assets, Financial Technology and Artificial Intelligence.

Rep. Warren Davidson (R-Ohio) was named chair of the Subcommittee on National Security, Illicit Finance, and International Financial Institutions, with Rep. Dan Meuser (R-PA) overseeing the Subcommittee on Oversight and Investigations. Lastly, the Subcommittee on Housing and Insurance will be chaired by Nebraska Republican Rep. Mike Flood.

As PYMNTS wrote earlier this week in a look at the upcoming legislative session, there have been a number of attempts at laws to create frameworks around digital asset markets.

For example, the Financial Innovation and Technology for the 21st Century Act was passed by the House but not the Senate. The act would, among other things, establish standards for digital assets and consumer protections, and segregation of funds.

And then there’s the question of cryptocurrency. Speaking with PYMNTS, Mike Katz, a partner in Manatt, Phelps and Phillips Financial Services Group, said that “despite the razor-thin Republican majorities, there is a growing bipartisan consensus in Congress around the need for thoughtful, innovation-focused crypto and AI legislation.

“It will be interesting to see if any digital asset bills are part of the tax-and-border-focused reconciliation package already being discussed in Congress. I’d expect a strong stablecoin bill to move quickly given existing bipartisan support,” he added.

@ Newshounds News™

Source:  Pymnts

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BRICS NEWS:  BRICS: US DOLLAR REMAINS IN HIGH DEMAND, DE-DOLLARIZATION FAILING

The BRICS alliance which kick-started the de-dollarization agenda is now under the mercy of the US dollar in 2025. The US dollar remained in the green for nine consecutive days in the DXY index and tramping other local currencies. 

The Indian rupee has fallen to a lifetime low of 85.93 and is on the brink of dipping to the 86 level. The Chinese yuan and the Japanese yen are facing similar lows and are unable to take on the rising US dollar.

The US dollar singlehandedly outperformed all local currencies in 2025 taking the top spot in the currency markets. The USD has now reached a high of 109.30 in the DXY index and could breach its all-time high of 109.53. The currencies of BRICS members are the hardest hit despite the alliance pushing the de-dollarization agenda to bring the US dollar down.

BRICS: Here’s Why the US Dollar is Rising and De-Dollarization is Failing

The first boost to the dollar came in early January after US weekly Initial Jobless Claims declined to 201,000 from the previous 211,000. The US Department of Labor (DOL) published the report indicating that the jobs market could ease out leading to employability. 

In addition, Fed Governor Christopher Waller made an announcement saying that inflation could continue to fall in 2025. These two events early this month boosted the US dollar’s prospects and dented the BRICS’ de-dollarization initiative.

The BRICS bloc now remains under pressure as local currencies are facing an uphill task to sustain themselves. The raging US dollar is showing no signs of stopping and is taking the de-dollarization agenda by the horns. 

If the momentum persists, BRICS can only dream of de-dollarization and never make it a reality. The US dollar has sustained many whiplashes over the last seven decades and has faced all challenges head-on.

@ Newshounds News™

Source:  Watcher Guru

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Thank you Dinar Recaps

“Tidbits From TNT” Saturday Morning 1-11-2025

TNT:

Tishwash:  It can become a major source of income in the economy.. Al-Sudani directs the maturation of tourism projects

Prime Minister Mohammed Shia Al-Sudani stressed, today, Saturday (January 11, 2025), the necessity of investing in Baghdad as the capital of Arab tourism to launch tourism development projects, considering that it can be transformed into a primary source in the non-oil economy.      

The Prime Minister's media office stated in a statement received by "Baghdad Today" that "Al-Sudani chaired a meeting today, Saturday, devoted to presenting a package of tourism projects planned to be established in the capital, Baghdad, and the rest of the governorates."

According to the statement, Al-Sudani directed to work on maturing tourism projects and offering them as a single package, especially since developing this sector will contribute to strengthening and diversifying the national economy by activating vital sectors, including the tourism sector, which the government is keen to activate for the next stage, based on its government program.

He pointed out that tourism and its components are available in Iraq, and it is possible to transform into a basic source in the non-oil economy, with the availability of opportunities, local need, and the desire of citizens to benefit from and enjoy modern, advanced, and environmentally friendly tourism facilities. It also represents a gateway to expanding the elements of attraction for incoming tourism from abroad.

The Prime Minister explained the importance of investing in the opportunity of choosing Baghdad as the Arab Tourism Capital for the year 2025, building attractive tourist and entertainment facilities and installations, overcoming bureaucratic obstacles, and creating more suitable conditions to attract foreign investment in this sector. 

According to the statement, the meeting approved extending an invitation to a Spanish company specialized in tourism development in order to put projects related to this sector into action, as well as to develop the capabilities of specialized tourism cadres and keep pace with the latest developments witnessed by this sector globally.

21 tourism projects were also reviewed, including hotels, resorts, sustainable forests, cities and entertainment complexes in Baghdad and various governorates, which provide attractions, infrastructure and economic feasibility. link

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Tishwash:  Iraq awaits "financial challenges".. Dollar scarcity, liquidity declines, and salary reserves are sufficient for 6 months

International economics expert Nawar Al-Saadi confirmed today, Friday (January 10, 2025), that Iraq is facing major and dangerous financial challenges, and these challenges must be avoided through real reforms.

Al-Saadi said in an interview with Baghdad Today that “the financial challenges in Iraq are ongoing, but recently they have begun to threaten its monetary stability and raise concerns about their impact on the government’s ability to pay salaries in the coming months.

 I do not believe that they will lead to an inability to pay salaries, as the Ministry of Finance has a reserve that may reach at least 6 months, but this concern stems from several data and indicators that have emerged recently, including that the Iraqi economy depends almost entirely on oil revenues, which represent the main source of government revenues, and any decline in global oil prices leads to a reduction in these revenues, which puts additional pressure on the general budget and increases the possibility of a financial deficit.”

He pointed out that "there are problems related to foreign currency management, as dollar smuggling operations have worsened through some unofficial outlets and weak supervision of banks, which has led to a shortage of dollars in the local market and a decrease in general liquidity. This affects monetary stability and puts the government in difficulty in financing salaries, especially with the increasing reliance on cash reserves to cover this deficit."

He added, "The banking sector suffers from a lack of confidence among citizens, as many prefer to keep their money outside the banking system, and this behavior contributes to reducing the cash flow available in the market, which adds further complexity to the financial situation."

The international economics expert concluded by saying, "In short, Iraq's financial situation requires urgent reform steps that include diversifying sources of income, improving revenue management, and enhancing citizens' confidence in the banking system, to avoid a liquidity crisis that could have broad repercussions on the economy and society." link

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Tishwash:  Reveals details of the restructuring plan for Rafidain and Rashid Banks

An economic expert revealed the government’s plan to restructure its two banks, Rafidain and Rashid.

Salah Nouri told Al Furat News Agency, "The reasons for restructuring Rafidain and Rashid banks are the presence of bad financial assets, most of which are loans granted that were impossible to obtain before 2003, which led to a decline in the credit rating by international financial institutions and the refusal to deal with them."

He explained that "in order to restore international confidence in the two banks, it is necessary to restructure the two banks by excluding bad financial assets from the financial center of the two banks and using modern technology and establishing two parallel banks, one for Rafidain and the other for Rashid, to which the bad financial assets will be transferred."

He explained, "After separating Rafidain Bank into a bank that owns sound financial assets and another parallel Rafidain Bank that owns bad financial assets, as well as Rashid Bank into Rashid Bank that owns sound financial assets and Rashid Bank that owns bad financial assets, Rafidain and Rashid banks, which own sound financial assets, will be merged into one bank, as well as merging Rafidain Bank with bad financial assets with Rashid Bank with bad financial assets into one bank."

Nouri said that "the new bank after the merger with sound financial assets will practice cash and contractual credit activities and dealings with international financial institutions, but the new bank after the merger with sound financial assets needs capital support with not small amounts, and this must be determined by the party that supports the capital, according to the government decision."

He noted that "among the financial activities of the new bank is the use of artificial intelligence in addition to bank employees with high technical skills."

He continued that "the process of restructuring the two banks financially and organizationally since 2011 with the membership of the Federal Board of Financial Supervision, the Central Bank of Iraq, the international auditing firm EY, the Ministry of Finance and the two banks concerned, has stopped, and currently the process of restructuring the financial and organizational structure has been resumed by assigning the international auditing firm according to the methodology referred to above."

Prime Minister Mohammed Shia al-Sudani chaired a special meeting yesterday, Thursday, to discuss the development of the work of government banks, in the presence of representatives of Ernst & Young for Auditing and Financial Consulting.

The Prime Minister explained that "the completion rate of the project to restructure Rafidain Bank has reached its final stages, stressing that it will enter into force in the coming few days, within the framework of a plan that has been studied and implemented according to the established standards and specifications."

Meanwhile, the Prime Minister's financial advisor, Mazhar Mohammed Salih, revealed to {Al Furat News} that a new banking entity is about to be born in Iraq.

Salih said that "the study aims to establish a new banking entity specializing in government banking operations, to meet the needs of the government exclusively. This entity will contribute to achieving the goals of the unified treasury account, which is a crucial tool for regulating cash flows for public finances."

He pointed out that "the study focuses on evaluating the legal status of the two banks, including property rights, evaluating assets and liabilities, and studying the requirements of a strategic partner if necessary, with a focus on developing the two entities to operate according to advanced financial technology that meets the requirements of the national banking market."

He stressed that "the structural reform also aims to enhance the integration of the two banks into the national banking market and enable them to expand into global financial markets, especially in the areas of trade and investment financing for the private sector," indicating that "the two potential entities will rely on modern systems in compliance, governance and risk management, with a focus on digital payments."  link

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Mot: . ARE YOU READY!!!??? --- I Am!!!

Mot: Over the Hill……

MilitiaMan & Crew Iraq Dinar News-Central Bank Governor Speaks Out- Closes electronic platform-A Year of Industry

MilitiaMan & Crew Iraq Dinar News-Central Bank Governor Speaks Out- Closes electronic platform-A Year of Industry

1-10-2025

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=-RkNjE10v70

Bruce’s Big Call Dinar Intel Thursday Night 1-9-25

Bruce’s Big Call Dinar Intel Thursday Night 1-9-25 

Transcribed By WiserNow Emailed To Recaps

Welcome everybody to the big call tonight. It is Thursday, January 9TH  and you're listening to the big call.  Welcome everybody that's within the sound of my voice. Thank you. Big call universe for tuning in again, all over the place, literally, in countries that the United States does not own or control. Yet, who knows, right? Still early – ha ha  just teasing. Well, thank you guys for tuning in, yet again, let's, let's open up the call with a word of prayer.

All right, let us get into the so called Intel segment. So  this is, this is where we are today. You know, we did Tuesday nights call, and I got a little information. I put Intel out that I really thought was pretty solid for Wednesday or Thursday. Then we heard that we would have notifications today or tomorrow. So I'll get back into that in a minute. But what was going on?

Let's call it Wednesday morning. -Yesterday morning – hold on -- was it was going on Tuesday, starting in the morning, they were starting to ping between redemption centers banks, using the Starlink satellite system in conjunction with the QFS, the quantum financial system.

All of that was happening, not only here, but around the world, all banks, all redemption centers, pinging  through the Starlink system and touch and connecting through the quantum financial system -that was to occur and in at about 10 o'clock at night, last night, which was Wednesday night, and it ended up going four hours longer, which we put at 2am in the morning.

So they wrapped all that up at 2am in the morning, this morning, Thursday morning. And then the point was when those banks and redemption centers had completed all of the pinging around the world, the rates on the screens would become live.

Now that's in banks, on bank screens, and in redemption centers, the rates on their screens would all be live as of 2am in the morning this morning.

Now it's been a little tough to get detailed information on this. It’s probably just as well  -- we did understand that there was a conference call yesterday from noon to Eastern that would have incorporated all of the redemption centers, leaders and bank managers, at least bank managers throughout the country, the US.

And then what was interesting was that there were two main,  main things that they discuss, from what we've heard on this conference call, one of which was that these currencies which we're exchanging, they are not a taxable event.

Now, how long have I been on doing a big call? 13 years. We've known that forever, but some people did not know that it was a non taxable event and it was designed to be way on purpose.

Well, certain people in the deep state would like to say differently, some of the bankers and so on on the call, thought that they had heard that it was taxable. Well, it doesn't matter what they heard. It's just not true. It's a non taxable event.

Now, the income that you earn from interest being paid on your account in the bank that interest is called passive income, and it will be taxed, but the event itself, the exchange of currencies and the redemption of Zim is not taxable, okay, so that's important.

And the other thing that was brought out was they went back and forth, I guess, and discussed this in a way that was definitive. Finally, remember, I've been telling you guys to ask for the contract rate on dinar, if you have Iraqi dinar, and that would be substantially higher.

I know roughly what it is. It's much higher. And I was told that they discussed this on their conference call, and it was determined previously that everyone with the Din would be offered the contract rate.

So that's a win right there. Not the front screen rate, not the bank front screen rate, but the contract rate for dinar. And so that should be the case.

Now here's the caveat. Let's say you go into a reception center, but you have  dinar and they don't offer you the contract rate, then ask them for it. I believe they will. But in case something fell through the cracks, you go ahead and ask them. Or if they don't offer to you first, okay, that's the way I'm going to handle it? Okay? That takes us through conference call.

Now what we had heard yesterday was that there was going to be a possibility to get the toll free numbers either late this afternoon or early tomorrow morning?

Well, guess what? It wasn't late this afternoon. Was it? What does that mean? That makes early tomorrow morning look pretty strong right now, and the chances that the theory is that we would set appointments Friday tomorrow, Friday the 10th and exchange. If we don't get started exchanging tomorrow, it would be Saturday the 11th of January.

Now let's talk about R and R. I just heard this evening that restitution and reconciliation allowance would occur after the inauguration of January, 20 of President Trump. We had heard in the first 10 days of January.

Today, the ninth, I don't think so, we got new information that said it would be sometime this month, but it would be after the 20th, which is Inauguration Day. Now that's referring to R, and R, I can't speak to Social Security. That was supposed to happen in the month of January, and still could, the increase could still occur.

But realize what we are talking about -  as that has nothing to do with the RV, some people have conflated those two subjects, and we believe, based on our sources, that we are ready to get started with numbers coming out to us tomorrow With the emails from Wells Fargo.

I know that yesterday,  funds were moving globally from the Rodriguez Trust, which is humongous and never seems to have a bottom to it. Funds were moving for NESARA and GESARA globally, and we'll just have to see what what occurs with that and when that occurs.

But it should be after Inauguration Day, and I don't know how soon, but it should be between then and the 31st which is the last day of January. So we'll keep an eye on that, although we really are more important, what's most important to us right now in for our exchanges and our redemption of zoom at the redemption centers, setting our appointments, Lord willing tomorrow -and then going, if not tomorrow, then Saturday, for our exchanges.

And if we do that, and we do start Saturday, we would they would be open Sunday, and you go by the weekend, but that's what the plan is, as as it stood tonight, a half an hour before the big call.

But we're   just going to have to kind of watch that and see how it all goes now. I don't think there's anything related to the exchanges or anything else that is coming to mind right now that we don't already know, but this is the latest and most up to date that we have.

And I love to be up to date and give you the latest thing I've heard, and we've got some pretty good sources that that do still try to talk to us, not everybody that we want to hear from is able to, but I guess we have just enough to give you an Intel segment that is the best that we can do.

Okay, all right, you guys, that's what I wanted to say tonight. I got to thank Sue for a wonderful job. It's really strong tonight. And Bob, excellent. Too great to hear the sale is continuing until sometime Monday it looks like and thank you for sharing with us about your projects, about the electricity and about the water project, fantastic, and thanks for continuing to stay a little bit longer.

So let's go ahead. I want to thank GCK. I want to thank Pastor Scott for hanging in there continued healing for you, Brother, let this be the last we hear of a stroke. Let you be completely, totally healed. And in Jesus name and and thank you, Jeannie, for continued support setting in your prayer requests or your prayer and your praise reports and all things to come with. Thank you sat team for getting the call out again, all that.

And  thank you big call universe for every week that has participated in listening to the big call for many years, 13 years now, so let's just go ahead and pray the call out. We'll say good night,

Have a great night. We should have a great weekend. We'll see what happens, and we'll be in touch by email. So stay in touch with us by email. Make sure you're registered on big call universe.com, and you'll get, you'll get an email when we get to set it out, and we'll take it from there. We'll be in touch with you. Thanks, everybody. Good night. God bless you all.

Bruce’s Big Call Dinar Intel Thursday Night 1-9-25 REPLAY LINK   Intel begins   1:14:34

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Bruce’s Big Call Dinar Intel Tuesday Night 1-7-25 REPLAY LINK   Intel Begins  1:00:40

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Bruce’s Big Call Dinar Intel Thursday Night 1-2-25 REPLAY LINK   Intel begins   1:14:54

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Bruce’s Big Call Dinar Intel Tuesday Night 12-31-24 REPLAY LINK   Intel Begins  54:44

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Bruce’s Big Call Dinar Intel Thursday Night 12-26-24 REPLAY LINK   Intel begins   1:07:27

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Bruce’s Big Call Dinar Intel Tuesday Night 12-24-24 REPLAY LINK  NO CALL

Bruce’s Big Call Dinar Intel Thursday Night 12-19-24 REPLAY LINK   NO TRANSCRIPTION

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Bruce’s Big Call Dinar Intel Tuesday Night 12-17-24 REPLAY LINK  Intel Begins 1:03:33

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Bruce’s Big Call Dinar Intel Thursday Night 12-12-24 REPLAY LINK   Intel begins   56:16

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Bruce’s Big Call Dinar Intel Tuesday Night 12-10-24 REPLAY LINK  Intel Begins 1:18:18

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Bruce’s Big Call Dinar Intel Thursday Night 12-5-24 REPLAY LINK   Intel begins   1:08:50

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Bruce’s Big Call Dinar Intel Tuesday Night 12-3-24 REPLAY LINK  Intel Begins 1:16:12

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Bruce’s Big Call Dinar Intel Thursday Night 11-28-24  REPLAY LINK  NO CALL

Bruce’s Big Call Dinar Intel Tuesday Night 11-26-24  REPLAY LINK  Intel Begins 1:16:30

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Bruce’s Big Call Dinar Intel Thursday Night 11-2124  REPLAYLINK  Intel begins   1:10:20 

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Bruce’s Big Call Dinar Intel Tuesday Night 11-19-24  REPLAY LINK  Intel Begins 1:12: 21

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FRANK26….1-10-25…….THE NEXT STEP

Friday Night Conference Call

FRANK26….1-10-25…….THE NEXT STEP

This video is in Frank’s and his team’s opinion only

Frank has stated he will no longer do public videos on the Iraqi dinar UNLESS it is Important, Prudent or Necessary.  

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE

https://www.youtube.com/watch?v=rcUCipIB6Mg

Iraq Economic News and Points to Ponder Friday Afternoon 1-10-25

Iraq Stands In Solidarity With America Over California Fires

2025/01/10 Reading: 858 times  Iraq stands in solidarity with America over California fires  LINK

Prime Minister: Restructuring Government Banks To Ensure Availability Of Capabilities And Openness With International Specifications

Banks   Economy News – Baghdad   Prime Minister Mohammed Shia Al-Sudani confirmed, on Thursday, that government banks with their current structures are unable to open up and address problems, indicating that this is why they have been restructured in a way that ensures the availability of all capabilities and openness with modern international technical specifications.

The Prime Minister's Media Office said in a statement, seen by "Al-Eqtisad News", that "Prime Minister Mohammed Shia Al-Sudani chaired a special meeting to discuss the development of the work of government banks, in the presence of representatives of Ernst & Young for auditing and financial consulting."

The statement added, "The Prime Minister was briefed on the plan for the restructuring project of Rafidain and Rashid Banks, and the technical and administrative procedures related to the project, which includes a comprehensive review and structural administrative reforms with the aim of providing integrated banking services to citizens and companies."

The Prime Minister explained - according to the statement - that "the completion rate of the project to restructure Rafidain Bank has reached the final stages," stressing "its entry into force in the coming period, within the framework of a plan that has been studied and implemented according to the established standards and specifications."

Al-Sudani added that "government banks with their current structures are unable to open up and address problems, and for this reason they have been restructured in a way that ensures the availability of all capabilities and openness with modern international technical specifications." 111 views   Added 01/09/2025 - https://economy-news.net/content.php?id=51784

Oil Prices Rise Amid Expectations Of New Sanctions On Russia, Falling Inventories
10/01/2025   Mawazine News – Economy  Oil prices jumped on Friday, posting gains for a third straight week, as concerns mounted about supply disruptions from potential sanctions on Russia.

Brent crude futures rose $3.50, or 4.6%, to $80.42 a barrel, breaking above $80 for the first time since October. U.S. West Texas Intermediate (WTI) crude futures rose $3.57, or 4.8%, to $77.49 a barrel.

Tensions mount over Russia sanctions
The United States is planning to impose its toughest sanctions on Russia’s oil sector, targeting 180 oil tankers, dozens of traders, two major companies and senior industry executives, according to a document seen by Reuters.

Expectations of the sanctions have grown ahead of President-elect Donald Trump’s inauguration on Jan. 20, while the Biden administration is expected to announce additional sanctions on Russia before it leaves office.

Other factors supporting higher prices
Cold weather in the US and Europe has helped boost demand for heating oil, with the US National Weather Service forecasting cooler temperatures in the central and eastern parts of the country. Europe is also facing a severe cold snap that is increasing energy consumption.

Analysts at JPMorgan expect global oil demand to grow by 1.6 million barrels per day in the first quarter of 2025, driven by increased consumption of heating oil, kerosene and liquefied petroleum gas.

Investors are concerned about inflation
Ole Hansen, head of commodity strategy at Saxo Bank, said that concerns about rising inflation due to Trump’s planned tariffs are boosting crude prices.

Despite a sixth straight week of gains in the dollar, which makes oil more expensive for buyers outside the US, oil prices continued to recover, reflecting the strength of factors supporting demand. https://www.mawazin.net/Details.aspx?jimare=258397

Oil continues gains, Brent crude hits $77

Time: 2025/01/10 08:22:31 Read: 1,430 times  {Economic: Al Furat News} Oil prices rose for the second day in a row, after a decline in US inventories overshadowed more signs of economic weakness in China, the largest importer of crude.

West Texas Intermediate crude traded above $74 a barrel, after ending the session up 0.8% on Thursday, while Brent crude closed near $77.

Crude inventories at the Cushing, Oklahoma, hub fell to their lowest since 2014, while consumer inflation in China is heading further toward zero.

Third Weekly Gain

Oil prices are set for a third weekly gain, supported by cold weather that is boosting demand for heating fuel and could disrupt U.S. refineries.

The imminent return of President-elect Donald Trump to the White House is also increasing the risk to Iranian supplies and creating tensions over a potential trade war that could weigh on energy demand. LINK

Iraq Declares 2025 The Year Of Industry.. Will Its Decisions Succeed?

Posted on 2025-01-10 by sotaliraq  The Prime Minister's Advisor, Hamoudi Al-Lami, confirmed that the Iraqi government has placed the industrial sector at the top of its priorities within its government program, announcing that 2025 will be the year of industry in Iraq.

Al-Lami explained that the Prime Minister's visit to Iraqi factories came to reflect the serious trend towards promoting national industry, pointing out that the Council of Ministers issued an unprecedented package of decisions to support this sector, including providing sovereign guarantees to the private sector that were previously limited to the government sector only, with the aim of establishing new production lines and modern factories.

He added that the government seeks to reduce dependence on oil revenues by exploiting the assets that Iraq possesses, such as raw materials, industrial expertise and the local market, stressing that the Council of Ministers reduced customs duties to levels close to zero, and provided soft loans with low interest to support the expansion of existing factories and the establishment of new ones.

Al-Lami pointed out that the government is working on establishing integrated industrial cities that will be offered to developers to provide the necessary services, noting the Prime Minister’s directive on the necessity of submitting applications to protect local products when achieving 50% market coverage, in line with the National Product Protection Law by imposing additional fees or preventing the import of competing goods.

Al-Lami also stressed that the government is keen on coordination between factories and farmers, especially in the food sectors, stressing the importance of supporting local agricultural production to provide factory supplies, such as dairy products and their derivatives.

At the end of his speech, Al-Lami announced the government's plans to restore the production of fertilizers, petrochemicals and other products that have been absent from the Iraqi market for years, stressing that periodic meetings will be held with industrialists to address challenges and achieve comprehensive industrial development.

With these steps, the government seeks to transform Iraq into an integrated industrial country, capable of achieving self-sufficiency and reducing dependence on imports, which will enhance the country's economy and achieve prosperity for citizens.   LINK

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With The End Of The Legislative Holiday... Parliamentary Movement To Resolve The “Controversial Laws” In The Coming Days

Posted on 2025-01-10 by sotaliraq   Once again, the scenario of controversial laws returns to the forefront, with the end of the parliament’s legislative recess, despite the heated disputes over some of its provisions and warnings against adopting the one-basket approach in resolving them.

The halls of Parliament are witnessing a new movement to return controversial laws to the Parliament’s table for discussion and passing, which raises fears of a new crisis erupting within Parliament regarding them.

The House of Representatives entered a legislative recess after extending it for 30 days based on Article 58 of the Iraqi Constitution. Consequently, that period ended and it became obligatory to enter a recess from December 9th to January 9th.

Member of Parliament Jassim Al-Moussawi says, “Through reading and managing sessions on controversial laws, there is public pressure trying to resolve controversial laws.”

He added, "The majority want to move forward to resolve the controversial laws, especially the Personal Status Law, the Amnesty Law, and the Kurdistan Lands Law," indicating that "there are broad popular demands."

Al-Moussawi pointed out that “there are efforts to resolve the problems and disputes regarding these laws,” stressing that they “need some time.”

For his part, Mukhtar al-Moussawi, a member of the Foreign Relations Committee in the House of Representatives, said, “The controversial laws will witness new movement, as the orientations of the major blocs dominating the parliamentary scene will become clear.”

He explained that “the legislative process in Iraq suffers from the dominance of the principle of political consensus between the blocs, which leads to the passing of laws based on political deals and trade-offs instead of relying on objective discussions that serve the public interest.”

He pointed out that “this style of legislative work makes controversial laws stuck within what is called the ‘one basket’, where the passage of one law is linked to the approval of another law, which hinders the approval of the necessary legislation that citizens are waiting for.”

The Shiite representatives in parliament insist on passing the Personal Status Law, which is considered a radical amendment to Law No. 188, which was enacted in 1959 during the era of Abdul Karim Qasim, while the Sunnis demand passing a general amnesty law, while the Kurds seek to pass a law to return properties to their owners that were taken from them during the era of the former regime. Since there are fundamental differences regarding each of these laws, they have been called “controversial laws,” such that passing any one of them requires passing the other laws.

The delay in approving many important laws is likely to weaken the legislative and oversight role of the House of Representatives, according to political observers, who criticize the parliament’s resort to the principle of political consensus, which has led to the postponement of important laws that the Iraqi street is anticipating.

It is noteworthy that the issue of passing controversial and controversial laws through the so-called “one-basket” system is not new to the Iraqi parliament. It is a procedure that is resorted to in the event that disagreements over a particular law reach a dead end, in a way that enhances the interests of the political blocs and their sectarian, factional and regional polarizations.

The amendment to the Personal Status Law faces major objections, as legal experts and civil activists warned, in a previous report by “Al-Alam Al-Jadeed,” of the amendments that the parliament intends to make to the law. While they confirmed that they could undermine one of the most important Iraqi legislations, they pointed out that the amendments place the authority of sects and religious men in a higher position than the authority of the judiciary and the law.

The amendment to the general amnesty law also faces objections and concerns that it will include those convicted of terrorism and belonging to ISIS. This amendment is one of the main demands of most Sunni forces, and was among the most prominent conditions they set in the negotiations to form the government of Prime Minister Mohammed Shia al-Sudani before voting on it in parliament in October 2022.

As for returning the properties to their owners, the five Kurdish blocs in the House of Representatives announced last September that they would unify their position to support a draft law aimed at cancelling the Baath Party’s decisions regarding agricultural lands in the areas covered by Article 140 of the Iraqi Constitution.  LINK

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

Seeds of Wisdom RV and Economic Updates Friday Afternoon 1-10-25

Good Afternoon Dinar Recaps,

XRP LAWSUIT: RIPPLE CTO REVEALS LEGAL STRUGGLES AND THE SILENCE HE WAS FORCED INTO

The ongoing legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) has gained widespread attention, carrying profound implications for the entire cryptocurrency industry. The lawsuit, which began in December 2020, accuses Ripple, along with its CEO Brad Garlinghouse and co-founder Chris Larsen, of raising over $1.3 billion through an unregistered securities offering by selling XRP.

In the midst of this high-stakes legal fight, Ripple’s Chief Technology Officer (CTO), David Schwartz, recently shared his thoughts on the situation. He opened up about the challenges posed by the lawsuit and the broader regulatory scrutiny faced by the crypto industry. 

He explained how the legal constraints surrounding the case prevented Ripple from addressing certain truths about the situation. “One of the things that most annoyed me about the lawsuit and the war on crypto was that there were things that were indisputably true that I could not say,” Schwartz said.

While Schwartz acknowledged the frustration of not being able to speak freely, he found some solace in seeing others express these truths on Ripple’s behalf. He added, “It definitely lifted my spirits to see someone else say them when I could not.”

Schwartz said that, despite his willingness to be more open about the matter, he believes discussing the past in detail would not be productive. He explained that, due to legal and strategic constraints, Ripple has been unable to directly combat misinformation, relying on the support of the XRP community, often referred to as the “XRP Army,” to help fill that gap.

Ripple Vs SEC Latest Update:

Judge Phyllis J. Hamilton has allowed Ripple CEO Brad Garlinghouse to keep some court documents sealed. This includes documents about judgments and expert testimony. Both Ripple and the SEC can keep these details private as the case moves to the next stage, following a rule to protect sensitive information.

@ Newshounds News™

Source:  Coinpedia

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U.S. SENATE TO LAUNCH CRYPTOCURRENCY SUBCOMMITTEE, LUMMIS TAPPED AS CHAIR

In a significant move for the crypto industry, the U.S. Senate Banking Committee is set to create its first-ever subcommittee focused exclusively on cryptocurrency.

The U.S. Senate Banking Committee, under the leadership of Senator Tim Scott (R-S.C.), is poised to establish a dedicated cryptocurrency subcommittee to advance discussions on digital asset regulation and industry oversight, according to a report by Fox News.

The formation of this subcommittee, modeled after a similar House panel created in 2023, marks a pivotal step toward a more structured approach to crypto legislation at the federal level.

A Senate aide told Fox News that Wyoming Senator Cynthia Lummis, a staunch advocate for cryptocurrency, is the tentative choice to chair this groundbreaking panel. 

‘The selection of Lummis, pending a committee vote next Thursday, signals a shift in the Senate's approach to digital assets. Alongside her nomination, the subcommittee members, representing both Republican and Democratic sides, will also be finalized through the same voting process.

Lummis, known for her vocal support of Bitcoin, has described the asset as "freedom money" and has advocated for its potential to hedge against inflation and enhance financial independence.

She previously proposed a plan for the US to acquire a significant stake in the total Bitcoin supply through a 1-million-unit purchase program over a set period. "Establishing a strategic Bitcoin reserve to bolster the U.S. dollar with a digital hard asset will secure our nation's standing as the global financial leader for decades to come," Lummis said at the time.

Her leadership could steer the subcommittee toward developing a more balanced regulatory framework, fostering innovation while ensuring market integrity.

Senator Tim Scott first hinted at the possibility of forming a crypto-focused subcommittee during the Wyoming Blockchain Symposium last August. 

“Wouldn't it be kind of cool if we had a subcommittee on the Banking Committee... so that we bring more light to the conversation, more hearings on the industry, so that we get things done faster?” Scott remarked, highlighting his vision for streamlined legislative action.

This move comes as Scott replaces outgoing Chair Senator Sherrod Brown (D-Ohio), who maintained a more critical stance on cryptocurrency. Brown frequently called for stricter oversight, citing concerns about crypto's role in enabling illicit activities and circumventing sanctions. The change in leadership, coupled with the creation of a dedicated subcommittee, could lead to a friendlier regulatory environment for digital assets under the new administration.

Notably, the subcommittee will include other crypto-friendly lawmakers such as Senator Bill Hagerty (R-Tenn.) and newly elected Senator Bernie Moreno (R-Ohio), both vocal supporters of blockchain technology and cryptocurrency. Moreno, who defeated Brown in the November elections, has vowed to champion crypto-friendly policies in the Senate.

@ Newshounds News™
Source:  BlockHead

~~~~~~~~~

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More News, Rumors and Opinions Friday Afternoon 1-10-2025

KTFA:

Clare:  Including the budget, intelligence, and minorities... Learn about the laws included in the parliament session on Sunday

1/10/2025

 The media department of the House of Representatives announced, on Thursday, the agenda of the parliament session next Sunday, including voting and reading of draft laws, including the 2025 budget schedules and others related to minorities and security.

According to the agenda, which was received by Shafaq News Agency, the parliament session next Sunday, January 13, includes 10 paragraphs, distributed between voting on draft laws, including the National Intelligence Service Law and mental health.

The session will also include reading draft laws, including the Yazidi genocide, the protection of minorities, and the federal budget schedules for 2025  LINK

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Clare:  Among them is the Iraqi Elina Habba.. Trump honors his supporters from the leaders of the Arab and Muslim community

1/10/2025

US President-elect Donald Trump is scheduled to meet with leaders of the Arab and Muslim community in the United States and honor them, including the Iraqi Elina Habba, the lawyer who was known for being one of Trump's defenders and one of his most prominent supporters in the elections. 

Leaders of the Arab and Muslim American community revealed that a meeting will be held between President-elect Donald Trump and his Vice President, Geddy Vance, with community leaders in Washington, DC, two days before the inauguration of the president-elect for a new term on January 20.

The leaders explained to the "Erem News" website that "this meeting is an embodiment of the commitment that Trump made to the community during his election campaign in Michigan last fall."

They pointed out that "the meeting will be a celebration of Trump's success in winning the elections, in addition to renewing the emphasis on the special relationship that has linked Arab and Muslim American voters to the Republican Party in recent years."

The leaders revealed that the list of invitees to this meeting will include, in addition to officials of Arab and Muslim origins who were appointed to the new Trump administration, community leaders who were in the front lines of supporting Trump’s campaign in an attempt to win the votes of the Arab and Muslim community in Michigan and the rest of the US states. 

After announcing his victory in the elections, President Trump took the initiative to appoint Americans of Arab and Muslim origins to senior positions in his new administration.

Leaders explained to "Erem News" that there are other appointments on the way for more Arab Americans in the Trump administration in the days and weeks that will follow the president's swearing-in.

Among the names to be honored at the meeting are Trump's senior Middle East adviser, Massad Boulos, ambassador-designate to Turkey Tom Barrack, Iraqi-born lawyer Elina Habba, adviser to the president, and the appointed "Doctor of the Nation" of Jordanian origin, Janet Nesheiwat, in addition to Muslim physician Mehmet Oz and Egyptian-born physician Martha McCary, who was appointed director of the Food and Drug Administration.   LINK

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

Jeff  Iraq's '25 budget still in the works with the government expected to send the budget tables to the council representatives in early February.  The rate needs to change before that guys.  That's why I've been telling you you're in red-hot January.  January is a critical month...to our investment.

Mnt Goat  Article:  “NO FEAR FOR THE REGIME IN IRAQ AS LONG AS AMERICA AND THE RELIGIOUS AUTHORITY ARE “SATISFIED”… THE GOVERNMENT IS HEADING TOWARDS “INDEPENDENCE”  ...Iraq must gain their independence not just on paper but inpractical terms. Now that the Chapter VII sanctions are released for over 2 years already it is time...The next stage is full sovereignty promised to the Iraqi people during the second invasion in 2003.  Yes, they still are not a free country until they get back their currency, which means to control their own wealth...Also I want to mention...the CBI reserves are in the bank in New York JP Morgan/Chase DFI fund amounting to over $120 billion dollars. And so Iraq will also have to recover these funds too. The UN already decreed these funds should be returned to Iraq...we are watching this closely.

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INFLATION Has COMPLETELY Devalued The Dollar...

Lynette Zang:  1-10-2025

https://www.youtube.com/watch?v=hZkB5YI1_DU

SITUATION-CRITICAL: The World Bond/Debt Market IS FLASHING RED... (AND WE HAVE A PROBLEM).

Greg Mannarino:  1-10-2025

https://www.youtube.com/watch?v=IktTwmDq69I

The Fed will End Quantitative Tightening this Year

The Fed will End Quantitative Tightening this Year

Heresy Financial:  1-10-2025

The Federal Reserve’s monetary policy has been a dominant force in the economic landscape in recent years, and its actions in 2025 will be closely watched. One key development anticipated is the cessation of quantitative tightening (QT), a process aimed at reducing the massive balance sheet the Fed accumulated during the pandemic.

Understanding the path to this point, along with the factors at play, is crucial for gauging the economic outlook.

To appreciate the current situation, we must look back to 2020. In response to the devastating economic impact of the CoviD-19 pandemic, the Fed engaged in unprecedented monetary easing. This included slashing interest rates to near zero and unleashing an enormous program of quantitative easing (QE), effectively “printing money” by purchasing trillions of dollars in Treasury bonds and mortgage-backed securities.

 This infusion of liquidity was meant to stabilize markets, support employment, and prevent a deeper economic collapse. While it achieved those goals to a large degree, it also laid the foundation for future challenges, including inflation.

As inflation surged in 2022 and 2023, the Fed pivoted sharply, embarking on a path of aggressive interest rate hikes and quantitative tightening (QT). QT involves allowing maturing assets on the Fed’s balance sheet to roll off and, in some instances, selling assets directly into the market. This process reduces the money supply and aims to cool down the economy and bring inflation under control.

However, QT hasn’t been without its complications. As the Fed reduces its holdings of Treasury bonds, it indirectly puts pressure on the government to borrow more from the open market, potentially raising the cost of borrowing for the US Treasury. This adds a layer of complexity to the financial system.

The Fed also maintains a Reverse Repo (RRP) Facility, a tool that allows financial institutions to temporarily park excess cash with the Fed in exchange for securities. Historically, it served as a safety valve, absorbing excess liquidity in the system.

However, in recent years, the RRP facility has seen a significant surge in utilization due to the vast amount of liquidity floating around as a result of the prior QE programs. As QT continues, the question remains whether the RRP will continue to play the same role or if the liquidity it absorbs will eventually dry up.

The central question surrounding the end of QT is: where is the liquidity coming from? The massive QE operations of 2020 created an unprecedented amount of money in the financial system. While QT is intended to drain that liquidity, the process unfolds slowly.

The persistence of the RRP utilization suggests that there’s still ample cash available. However, as the Fed continues to unwind its balance sheet, the system will become progressively leaner. This process will influence the cost of borrowing, and possibly the level of risk assets people are willing to take.

The move by the Fed to conclude quantitative tightening in 2025 marks a significant shift in monetary policy. While the immediate impact might be a reduction in upward pressure on interest rates, the lingering effects of 2020’s “money printing” and the complexities of unwinding such a large balance sheet mean that the economic path ahead remains uncertain.

 Investors and economists will be closely scrutinizing the Fed’s actions and the resulting market responses as 2025 unfolds. The lessons learned from this period will undoubtedly shape the future of monetary policy for years to come.

https://youtu.be/bqukrHuNHvE

Coffee with MarkZ and Mr. Cottrell. 01/10/2025

Coffee with MarkZ and Mr. Cottrell. 01/10/2025

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 and happy Friday

Member: Another week bites the dust…..

Member: It’s cold all over…… Give us some Hot News to heat things up!!

Member: Everything looks good - let's kick this RV off. Go ahead and tell them it's ok to start Mark !

Member: Is this our week?

MZ: I’m hearing mixed signals on that. Some say it is our week and some say –not till after the 21st.

Member: if the rv happens around the 21st...it's STILL far sooner than the 35 YEARS that Mr C has been has suffered through. Cool your jets folks...it will happen!!

Member: Inauguration day is Jan 20th, Jan 20th is also Martin Luther King Day = markets closed, banks closed, govt offices closed etc. coincidence?? NOPE

MZ: “Using their heavy machinery –Basra Contractors Union threatens government with angry demonstrations and road blockages” And they are threatening to bring their heavy equipment to Baghdad in a week or two and block the streets. And who is helping them organize these things?  Maliki.

Member: Why isnt Maliki in prison?  I thought they were cleaning up corruption??

Member: Maliki's name says it all: MAL means BAD.

Member: Seems to me the Iraqi people would benefit most from an RV, what is the hold up!!!!

MZ: I believe the RV is “event driven. And they have to have enough events done before they pull the switch.

MZ: HCL is supposed to again be discussed Sunday in Parliament

Member: MARK Z. why is the HCL so important? Could there be a rate in it.??

Member: I believe The HCL Hydrocarbon Law and Article 140 is profit sharing for all Iraqi citizens to get a part of the oil proceeds. That’s one reason they needed the census a few months ago.

Member: I think the battle over HCL is misdirection

MZ: I agree…it absolutely feels like misdirection…..It feels like theatre.

Member: Maybe they are stalling until after the inauguration on the 20th?

MZ: I have talked to a couple Iraqi sources and they still believe this is it. They have contractors that they are in contact with that are suddenly being called in. I have one who will not tell me what the re-negotiated rate is on their contracts. One of them mentioned $3.91 but I do not know for certain if that is really it. Its from a contact I don’t know really well.

Member: $3.91 would be amazing…..fingers crossed.

Member: If we're going to gold based currency-I wonder how long does that take to switch over?

Member: Nixon took us off the gold standard with a stroke of his pen…..just sayin

Member: Bruce last night stated phone numbers are coming out today. He said he is absolutely calling it and that's was it. He also stated there was a big 2 hour meeting on Wednesday with all Bank and Redemption centers

Member: Pompey Peter said the RV date has been set and things seem to be slowing down after speeding up for a while because they're aiming events at the set date.

Member: Buddy Carter just introduced the Fair Tax act which abolishes the IRS and federal income tax and introduces a consumption tax!! Nesara!!

MZ: I have a call in for redemption center/redeeming bank contacts…to find out if they are working this weekend. They are “on call”

MZ: Silence from bond folks right now.

Member: Stay positive……I feel great things are coming!!

Member: I just got into dinar w/o any knowledge of it , I’m glad I didn’t have to wait as long as most. But the opportunity is definitely a blessing. It opened my mind to a whole new perspective

Member: Let’s get this party started Folks!

Membr: Hope everyone has a wonderful weekend. Stay warm and safe.

Mr. Cottrell joins the stream today….Please listen to replay for his opinions and information.

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.

 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=dPo1VaFIURM

Seeds of Wisdom RV and Economic Updates Friday Morning 1-10-25

Good Morning Dinar Recaps,

SEC’S GENSLER SAYS MOST CRYPTO PROJECTS ARE DOOMED AS RIPPLE APPEAL DEADLINE NEARS

▪️Gary Gensler warns crypto market still rife with fraud, says many projects won’t survive in his final interview as SEC Chair.

▪️Outgoing SEC Chair Gary Gensler highlights scams in crypto, calls for stronger regulation as he prepares to step down.

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Gary Gensler, the outgoing chair of the Securities and Exchange Commission, shared his thoughts on regulating the fast-growing crypto market. While he acknowledged that crypto is still a small part of the overall financial markets, he said that it’s full of bad actors and scams.

Under his leadership, the SEC has filed about 100 enforcement actions in the past four years, compared to his predecessor Jay Clayton’s 80. Gensler believes that the crypto market is still struggling with fraud, with many projects acting like risky investments that may not survive.

In an interview with Bloomberg, Gensler said,

In this field, it’s rife with bad actors.” He then broke down the crypto market into two parts, saying, “The public knows a lot about Bitcoin, which, depending on its market value, is two-thirds to 80% of the market value of crypto.

Gensler pointed out that there are “10,000 to 15,000 projects raising money from the public.” Many of these projects, he believes, are simply speculative investments, “hoping for a better future.” 

He explained, “I’ve been around finance for over four decades, and everything in the markets trades on a mixture of fundamentals and sentiment.” However, he added, “At any given time, I’ve never seen a field that’s so much wrapped up in sentiment and not so much about fundamentals.”

Gensler Says Crypto Projects ‘Won’t Survive’

He also warned, “Many of these 10,000 to 15,000 projects will not survive. They’re like venture capital investments. They’re not going to survive.” Gensler pointed to the existence of “small pump and dump schemes” that have caused problems in the industry. Reflecting on past events, he said, “We’ve lived through a few years where they became notorious, but they’re in jail now.”

Despite the growing number of enforcement actions, Gensler thinks that the crypto market is still not complying with the rules. He sees his role as ensuring that the market works without fraud, manipulation, and misinformation. Gensler is set to resign on January 20 and Paul Atkins will serve as the SEC Chair next.

@ Newshounds News™

Source:  Coinpedia

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PRO-CRYPTO CFTC BOSS, SUBCOMMITTEE RUMORED AS TRUMP INAUGURATION NEARS

New reports suggest the US Senate Banking Committee is looking to create its first crypto subcommittee, while Trump is reportedly eyeing a pro-crypto CFTC commissioner to take the agency’s helm.

The US Senate Banking Committee is reportedly set to create its first-ever crypto subcommittee, while a pro-crypto commissioner is now a top pick to replace the outgoing chair of the Commodity Futures Trading Commission, according to two reports.

The two reports — seen as positive developments for the crypto industry — come less than two weeks before President-elect Donald Trump’s inauguration, set for Jan. 20.

According to a report from FOX Business on Jan. 9, following a Punchbowl News report on Jan. 8, the US Senate Banking Committee’s new chair, Republican Senator Tim Scott, has made the creation of the subcommittee a top priority and plans to replicate the House Financial Services Committee’s model, which introduced a crypto subcommittee in 2023.

Two Senate aides told FOX that Scott has put forward Senator Cynthia Lummis to chair the subcommittee, with a vote on her approval to happen in the next few days. Lummis, a longtime crypto supporter, has recently echoed Trump’s push for a strategic Bitcoin.

Trump has made sweeping promises to rein in crypto regulation by enforcement and turn the US into a “crypto capital.” The Senate Banking Committee is the key overseer of financial agencies such as the Securities and Exchange Commission and of federal monetary policy.

A memo seen by FOX said Senators Bernie Moreno, Dave McCormick, Thom Tillis and Bill Hagerty were being considered for the new crypto subcommittee. They are all “strongly supportive” of crypto, according to the digital assets lobby group Stand With Crypto.

It is not known which Democrats might be joining the subcommittee, but Senator Elizabeth Warren, a vocal crypto skeptic, is the party’s most senior member of the Senate Banking Committee

In 2024, the House passed a key crypto bill known as FIT21 that was created by the House Financial Services crypto subcommittee. It would hand greater regulatory control to the Commodity Futures Trading Commission. The bill is currently awaiting action in the Senate.

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

Mersinger tipped to lead CFTC

Meanwhile, Unchained reported on Jan. 9 that five people close to the matter said CFTC Commissioner Summer Mersinger has emerged as a leading choice to chair the agency, as current CFTC chair Rostin Behnam said he’d be stepping down when Trump takes office.

Mersinger has overtaken ex-CFTC commissioner and a16z policy head Brian Quintenz for the job, as she’s seen as someone who could pass a Senate confirmation. She was a staffer for Senate Majority Leader John Thune for 12 years.

As she’s already a commissioner, Trump could appoint her to a temporary chair role while the Senate deliberates on her confirmation.

Mersinger has made crypto-supportive comments, telling a Blockchain conference in November that she was “uncomfortable” that the CFTC was “kind of setting some sort of policy through our enforcement cases.”

Trump is set to take office on Jan. 20, officially giving Republicans full control of the government after the party picked up a majority of Senate seats and kept its House majority in November’s elections. The new Congress kicked off on Jan. 3.

@ Newshounds News™

Source:  CoinTelegraph

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IOTA INVITES DEVELOPERS TO APPLY FOR $10M IN SEASON 2 GRANTS

▪️IOTA’s Season 2 grant program aims to empower builders aligned with IOTA’s vision of sustainability and decentralization.

▪️Prospective applicants can submit proposals via the IOTA Grants website, with projects evaluated based on scalability, usefulness, safety, alignment with funding goals, and long-term viability

The IOTA Ecosystem DLT Foundation unveiled its Season 2 grant program. The IOTA Grants Season 2 has committed to offering $10 million in funding and fostering innovation within the Web3 ecosystem. The initiative looking to empower Web3 builders and innovators focused on projects closely aligned with its vision of sustainability and thriving within a decentralized and free ecosystem.

IOTA Grants Season 2 Focus Areas & Funding Goals

It caters to three core areas, namely open-source development, education, and events, for supporting projects. These categories advance IOTA’s ecosystem by covering key aspects of Web3 growth.

For context, open-Source Development promotes the development of tools, utilities, and public goods that increase user experience.

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 Moreover, the foundation has targeted education to reduce the complexity of multi-layered technology to reach everyday users. Meanwhile, events that promote community-driven activities like hackathons and workshops are prioritized.

“We’re here to support you on this journey,” the IOTA Foundation stated. They added:

Whether you’re accelerating adoption through real-world applications, planning to utilize our EVM framework, or shaping the future of the IOTA Rebased network, our grants are designed to foster innovation and creativity across the entire spectrum.

Currently, one of the key areas of focus has been the launch of the IOTA rebased protocol. The IOTA Rebased protocol is reportedly gearing up for its mainnet re-launch in early 2025, reported CNF. On the social media platform X, Michael Atlan emphasized that this re-launch positions IOTA for broader real-world adoption

Success Of Season 1 Grants

The end of Season 1 of the IOTA Grants program has been on an upbeat note since it attracted quality talent and great projects. Altogether, there were 144 applications, from which 32 were funded amounting to $3.47 million. The process had to be momentarily halted because it was overwhelmed with applications.

The Foundation has reflected on the previous season by highlighting productive outcomes. In a blog post, the team wrote,

The first season proved highly productive, bringing exceptional talent and innovation into the IOTA ecosystem.

Hence, applying for Season 2 is relatively simple. Anyone can submit a proposal by logging onto the IOTA Grants website along with guidelines on the funding. The applicants would be interviewed by the IOTA Grant Committee, which includes members of the IOTA Foundation.

Projects are rated along six criteria including alignment with funding goals, scalability, usefulness, safety, expertise of the grantee, and long-term viability. 

The Foundation went ahead to inform that its evaluation process is quite transparent, assuring that all funding goes only to projects whose potential to alter the ecosystem can be maximally realized.

IOTA Grants Season 2 builds on the momentum of its predecessor and is seeking even more innovative ideas. “Your ideas have the power to drive positive change in the ecosystem, and the IOTA Ecosystem DLT Foundation is here to support you,” the Foundation encouraged.

The IOTA Foundation added that it’s excited to work with developers and visionaries to build the future of Web3. Thus, prospective candidates can visit the IOTA Grants website for more information or to apply.

@ Newshounds News™

Source:  Crypto News Flash

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5 Reasons You Still Need Checks

5 Reasons You Still Need Checks

Heather Taylor   Mon, March 27, 2023

Is there still room for paper checks in a world where financial transactions are increasingly digital in nature? Survey says … yes.

In GOBankingRates’ Best Banks 2023 survey of 1,000 Americans, 22% of respondents said they still write checks at least once a month. And surprisingly, of these respondents, the largest percentage belonged to those between the ages of 18 to 24 (28%). Paper checks might sound like a mildly antiquated concept, but they can still be used to fulfill specific needs now and into the near future.

Here are some of the key reasons you still need checks.

Valid Form of Payment

If you don’t have cash or a credit or debit card available to pay for essential goods or services, many people and places will accept a check. Desiree Kaul, CFP and associate advisor at MainStreet Financial Planning, said you can still use a physical check to make a payment for the following:

Hiring contractors. Kaul said contractors who work on your home generally accept only cash or physical checks for their services. Paying with a credit card, should you choose to do it, may mean paying additional convenience fees.

School fees. Families with school-aged children often need to pay for various activities throughout the course of the school year. Rather than send your child to school with cash that could be lost, Kaul said it may be easier to write a physical check for fees payable to the school.

Physical magazine subscriptions. If you still subscribe to physical magazines, Kaul said you may want to pay for these subscriptions via physical check. “If you use a credit card, some companies will autobill a credit card upon renewal whether you intended to renew or not,” said Kaul.

Groceries. Yes, many grocery stores and retailers like Walmart will accept a physical check at checkout. Kaul said this can be especially helpful in circumstances where your debit or credit card has been lost or stolen. A physical check may act as its replacement for making payments until then.

TO READ MORE: https://www.yahoo.com/finance/news/5-reasons-still-checks-120018977.html