Iraq Economic News and Points to Ponder Monday Afternoon 1-13-25

Iraq's Oil Exports To The United States Reached About 80 Million Barrels In 10 Months

Economy  | 01/13/2025  Mawazine News – Baghdad  Iraq's exports of crude oil and its derivatives to the United States amounted to nearly 80 million barrels during 10 months of last year 2024.

The US Energy Information Administration stated that "Iraq's exports of oil and its derivatives during 10 months of last year amounted to 79 million and 416 thousand barrels."

It added that "Iraq exported about 6 million and 890 thousand barrels of oil and its products during October, down from 9 million and 625 thousand barrels in September."

It continued, "The total crude oil exported from Iraq to America for October amounted to 5.190 million barrels, while the remaining 1.700 million barrels were oil derivatives, including 1.695 million barrels of non-condensed oils and five thousand barrels of remaining fuel oil." https://www.mawazin.net/Details.aspx?jimare=258520

The Percentage Of Foreign Remittances In Dollars In The Sales Of The Central Bank Of Iraq Increased To More Than 93%

economy | 04:45 - 01/13/2025   Mawazine News – Economy  The Central Bank of Iraq's currency auction, on Monday, witnessed a high percentage of foreign remittances, reaching 93.3% of total sales, with the participation of nine banks.

According to the bank's statement, total sales in the auction amounted to 289 million, 734 thousand, and 323 dollars, at a basic exchange rate of 1310 dinars per dollar for documentary credits, international settlements for electronic cards, and foreign remittances, while the cash exchange rate amounted to 1305 dinars per dollar.

Most of the amount, worth 270 million, 848 thousand, and 323 dollars, was allocated to enhance balances abroad in the form of remittances and credits, while cash withdrawals amounted to 18 million and 850 thousand dollars.

Only one bank participated in purchasing cash dollars, while eight banks met requests to enhance foreign balances, and the auction witnessed the participation of 29 exchange companies in the operations.   This trend reflects an increasing reliance on enhancing foreign balances through remittances, which reflects the current dynamics of the cash market in Iraq.
https://www.mawazin.net/Details.aspx?jimare=258536

Gold Prices Stabilize In Baghdad

Economy | 01/13/2025  Mawazine News – Baghdad  The prices of Iraqi and foreign gold stabilized in the local markets in the capital, Baghdad.

- The price of gold in the wholesale markets on Al-Nahr Street in the capital, Baghdad, reached 570 thousand dinars for one mithqal of 21 karat Gulf, Turkish and European gold, and the purchase price was 566 thousand dinars.

- The selling price of one mithqal of 21 karat Iraqi gold was recorded at 540 thousand dinars, and the purchase price was 536 thousand dinars.

- The prices of gold in goldsmiths' shops, with the selling price of one mithqal of 21 karat Gulf gold ranging between 570 thousand and 580 thousand dinars, while the selling price of one mithqal of Iraqi gold ranged between 540 thousand and 550 thousand dinars. https://www.mawazin.net/Details.aspx?jimare=258516

Oil Prices Continue To Rise, Brent Crude Exceeds $80 Per Barrel

Economy | 13/01/2025   Mawazine News – Economy   Oil prices rose for the third consecutive session on Monday evening, after the price of Brent crude exceeded $80 per barrel, recording its highest levels in more than 4 months, supported by expectations of the impact of major US sanctions on the Russian oil sector and the expected effects on exports to China and India, the major importers of crude.

Brent crude futures were up 71 cents, or 0.9%, at $80.47 a barrel by 1424 GMT, after hitting an intraday high of $81.68, the highest since Aug. 27, 2024.

U.S. West Texas Intermediate (WTI) crude was up 94 cents, or 1.2%, at $77.51 a barrel after touching a high of $78.58, the highest since Aug. 15, 2024.

Brent and WTI have jumped about 6% since Jan. 8, and rose on Friday after the U.S. Treasury Department imposed new sanctions on Russian oil producers Gazprom Neft and Surgutneftegaz, as well as 183 tankers that ship Russian oil, targeting revenues Moscow uses to fund the war in Ukraine. https://www.mawazin.net/Details.aspx?jimare=258559

Al-Halbousi Discusses With US Deputy Assistant Secretary Of State Strengthening Bilateral Relations Between The Two Countries

Monday 13 January 2025 19:30 | Politics Number of readings: 125   Baghdad / NINA / The head of the Progress Party, Mohammed al-Halbousi, discussed with the US Deputy Assistant Secretary of State for Middle Eastern Affairs, bilateral relations between the two countries.

His media office said in a statement, "The head of the Progress Party, Mohammed al-Halbousi, received today, Monday, the US Deputy Assistant Secretary of State for Middle Eastern Affairs, Victoria Taylor. The statement added He continued, "The meeting also discussed developments in the region, and strengthening regional and international efforts to restore security and stability in the region. / End https://ninanews.com/Website/News/Details?key=1179865

Iraqi Stock Exchange Closes Down 1.73%

Stock Exchange  The Iraqi Stock Exchange closed on Monday down 1.73% after yesterday's gains.  The stock exchange traded 1.99 billion shares, worth 2 billion dinars, in 47 companies.

The United Bank of Iraq share achieved gains of 20%, reaching 0.06 dinars, followed by Gulf Insurance by 3%, while Middle East Bank lost by 12.5%.

The banking sector was the most traded, with 1.3 billion shares traded, worth 1.48 billion dinars.

Foreign investors bought 10.2 million shares worth 42.49 million dinars in the shares of the Bank of Baghdad, Gulf Commercial Bank, Al-Amin Insurance, Metal Industries and Bicycles companies, while they bought 20.5 million shares in the Baghdad Soft Drinks Company. 129 views 01/13/2025 - https://economy-news.net/content.php?id=51898

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

Seeds of Wisdom RV and Economic Updates Monday Afternoon 1-13-25

Good Afternoon Dinar Recaps,

RIPPLE XRP AND BANK OF AMERICA: BIG CLAIMS, FEWER ANSWERS

▪️Ripple XRP integration at Bank of America sparks debate, with claims remaining unverified.

▪️Bank of America files 83 patents tied to Ripple blockchain, fueling XRP adoption speculation.

▪️XRP price rises 3.39% amid rumors of BoA’s blockchain use, with $2.89 as key resistance level.

Recent claims about Bank of America (BoA) using Ripple’s XRP for internal transactions have sparked heated debate within the financial and cryptocurrency sectors. While the bank’s potential use of XRP could signal a major shift in digital payments, these assertions remain unconfirmed, marking caution necessary.

Unverified Claims and Historical Context

David Stryzewski, CEO of Sound Planning Group, made headlines during a FOX Business interview on January 6, 2025, by stating that BoA has integrated XRP for all its internal transactions. He also revealed that BoA has filed 83 patents related to Ripple’s blockchain technology, demonstrating a considerable investment in the infrastructure that supports digital payments.

However, despite this bold claim, Bank of America has not issued an official confirmation. Historical records show that BoA has been exploring blockchain solutions for years. For example, in 2017, the bank filed a patent for a real-time settlement system that referenced a “ripple” distributed ledger without explicitly naming XRP. This action suggests an ongoing interest in decentralized technology but raises questions about its current adoption practices.

Technical Analysis and Market Sentiment

Market reactions reflect the news, with XRP trading at $2.41, a 3.39% daily increase. Analysts have identified a critical resistance level at $2.89 and support near $2.00, creating key zones for traders to monitor. Bullish sentiment has surged due to the potential for broader institutional adoption, but skeptics urge caution because of the lack of official statements.

Broader Implications and Future Outlook

If Stryzewski’s claims are accurate, this development could set a precedent for cryptocurrency adoption in traditional banking systems. RippleNet, where BoA is a governance member, shows the growing collaboration between financial institutions and blockchain solutions. Still, the absence of verifiable evidence highlights the importance of relying on official updates for a clear understanding.

Meanwhile, the XRP community remains optimistic, driven by Ripple’s recent achievements, such as the launch of the RLUSD stablecoin. This milestone, along with XRP’s increasing adoption, underscores the asset’s growing role in global finance.

@ Newshounds News™

Source:  Coin Edition

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XRP LEDGER UPGRADE: IMPORTANT CHANGES YOU MUST KNOW

The XRP Ledger (XRPL) is currently in the process of a major technology update, with several amendments already announced for voting.

The XRP development team revealed that about 80% of the XRPL servers have been successfully updated, and older version servers are expected to be automatically disconnected once this update is complete. This update will bring a number of important changes that have the potential to impact various aspects of XRP and XRPL usage as a whole.

Update to XRP Ledger v2.3.0

XRP Ledger v2.3.0 brings several important amendments aimed at improving network efficiency and functionality. Some of the key changes included in this update include:

▪️XLS-70: Credentials
This amendment allows you to provide credentials to the ledger and use them to automatically approve incoming payments.

▪️XLS-33: Multi-Purpose Token
This change presents a new, more optimal version of the token, especially for institutions operating in the Decentralized Finance (DeFi) sector. This aims to support the broader adoption of fungible tokens in DeFi.

▪️XLS-37: AMM Clawback
This amendment allows the use of tokens with a clawback feature in Automated Market Maker (AMM) systems, providing more flexibility in the management of revocable tokens.

▪️XLS-52: NFTokenMintOffer
With this amendment, you can make sales offers for Non-Fungible Tokens (NFT), opening up more opportunities in the ever-growing NFT market.

▪️Bug Fixes and Efficiency Improvements
In addition to the major amendments, this update also includes a number of technical improvements, such as fixing a bug that resulted in missing links in the NFT directory and improvements to the AMM transaction process that can improve overall system performance.

XRPL Server Update Progress

As part of this update, the development team also announced that around 80% of the XRPL servers have been successfully updated. This marks a major step in ensuring the XRPL network remains relevant and efficient.

Servers using versions 2.2.x and older are expected to automatically disconnect once the update is complete, forcing most users to upgrade to stay connected to the network.

Implications of the Update to the XRP Network

In addition to technical updates, recent data shows a significant increase in activity on the XRP network. According to data from CryptoQuant released in November 2024, XRP's Network Value to Transactions (NVT) ratio saw a spike, indicating increased activity on the network.

 Further analysis from CryptoQuant also showed significant changes in transaction types on XRPL, especially in “OfferCreate” transactions, reflecting increased trading activity on the network.

In January 2024, payment transactions accounted for 88% of all transactions on the ledger, while “OfferCreate” transactions accounted for 12%. However, in November 2024, both types of transactions will experience equal adoption with a contribution of 50% each. This shows that the adoption of new features, including decentralized trading (DEX), is starting to gain popularity among XRPL users.

XRP Outlook Post Update

In December 2024, crypto analyst Paul Barron revealed that the XRPL network was on the verge of a major breakthrough. According to him, the update that is being carried out has the potential to trigger a significant spike in the price of XRP.

Even though the price of XRP is currently hovering around $2.3 after experiencing a 4.4% decline in the last seven days, optimism for the future of the XRP network remains high, especially with increased activity and ongoing updates.

Thus, the XRPL v2.3.0 update not only brings significant technical changes, but also opens up new opportunities for adoption and further development in the XRP ecosystem, both for individuals, institutions, and developers in the DeFi and NFT sectors.

As the server upgrade nears completion, the XRP network is expected to become stronger and more competitive in the ever-evolving blockchain world.

@ Newshounds News™

Source:  BitTime

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LEDGER INSIGHTS - 13 JAN – TOKENIZATION, DIGITAL ASSETS NEWS

TOKENIZATION AND DIGITAL ASSETS: POLICY & LEGAL

FDIC Vice Chair acknowledges crypto debanking, outlines policy plan. He’s a candidate to become chair.
Ledger Insights  

United States Consumer Financial Protection Bureau (CFPB) interpretive rule proposes to include stablecoins, crypto in Electronic Fund Transfer Act (EFTA) as digital payments. This would give consumer protections such as the right to dispute errors or fraudulent transactions. Comments should be submitted by the end of March.  
CFPB-EFTA Document

OECD explores impediments to tokenization adoption.
Ledger Insights

New Springer legal book including digital assets
Governance and Control of Data and Digital Economy in the European Single Market: Legal Framework for New Digital Assets, Identities and Data Spaces
OPEN ACCESS DIGITAL LINK 

Indonesian commodities regulator transfers digital asset responsibilities:
the Commodity Futures Trading Supervisory Agency (Bappebti) transferred its digital assets duties including crypto and derivatives to the Financial Services Authority (OJK) and Bank Indonesia (BI).

OJK takes on most of the responsibilities with the central bank supervising derivatives where the underlying assets relate to money markets or foreign exchange.  KK Advocates 

Kenya’s Treasury publishes a draft set of digital asset rules and requests feedback.
Draft Document 

European Central Bank’s Bindseil and others explore tokenization terminology.  Tokenization Terminology 

TOKENIZATION & DIGITAL ASSETS: PROJECTS, PARTNERSHIPS

NUS, Northern Trust and UOB partner to tokenize green bond data. Part of Project Guardian. Ledger Insights 

Ownera, which provides a blockchain interoperability router FinP2P, partners with Layer 1 blockchain Kadena.  LINK 

Germany’s Bundesbank advertises for (more) DLT technical roles. Good news for wholesale DLT settlement solutions?  LINK 

Blockchain Security Standards Council issues first two standards. Its members include Anchorage Digital, Coinbase, Fireblocks, OpenZeppelin, Ribbit Capital. One of the standards is on asset integration – such as tokens.  LINK

@ Newshounds News™

Source: Ledger Insights 

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Scammers Can Take The Title To Your Home Without You Knowing It

Scammers Can Take The Title To Your Home Without You Knowing It

3 critical ways to protect yourself in 2025

Christy Bieber  Mon, January 13, 2025   Moneywise

Real estate fraud takes many forms, but title fraud is one scam that's reportedly becoming more widespread. Title fraud happens when criminals — sometimes called title pirates — file fake documents to improperly transfer title to properties they don't own.

Title is used to track legal ownership, and when someone transfers the title to themselves, they become the owner of record. This often happens when someone files a fraudulent deed with the local county office. This may involve forging signatures or even the use of artificial intelligence.

“The targets of these crimes are often properties that are free of loans and owned by absentee owners or others who may not closely monitor their property records,” wrote Dax Junker real estate attorney in MortgagePoint magazine.

 “Once they gain control of the title, fraudsters will try selling the property to unsuspecting buyers, securing loans against it, or renting it out to someone. The legitimate owner is often completely unaware of the fraud until they face an eviction notice or discover liens taken against their properties, at which point they face a significant legal battle to reclaim their rights.”

Sadly, undoing the scam requires going to court. "The person who forged the deed is now the property owner," real estate attorney Arash Sadat explained to ABC7 Eyewitness News. "So, for you to get title back to that property, they would have to either grant you a deed, restoring your property or you have to go to court and have the court make an order saying you are the titled owner of this property."

This is why stopping this scheme from happening in the first place is so crucial. Fortunately, there are a few key techniques you can use to avoid this happening to you.

Sign up for alerts

There are services that homeowners can sign up for that alert them when any change is made to a deed, mortgage, or other official record.

TO READ MORE:  https://finance.yahoo.com/news/scammers-title-home-without-knowing-124200768.html

How America’s Debt Addiction is Triggering a Collapse

How America’s Debt Addiction is Triggering a Collapse

ITM Trading:  1-12-2025

The global economic landscape is shifting, prompting many to question the stability of current systems. In the United States, concerns are growing about the potential for runaway inflation and the possibility of a significant currency reset.

While mainstream economic analysis often downplays these risks, a closer look at government spending, historical precedents, and the current economic climate suggests a need for careful consideration and proactive planning.

One of the most pressing anxieties is the rising cost of goods and services. While inflation is a natural part of a healthy economy, excessive inflation, particularly when coupled with stagnant economic growth (stagflation), can be incredibly damaging.

Some analysts argue that the U.S. is already experiencing early signs of stagflation, pointing to rising prices alongside slowing GDP growth. This presents a challenging scenario for policymakers, as measures to combat inflation, such as raising interest rates, can further stifle economic activity.

The underlying concern stems from what some perceive as unsustainable levels of government spending. Trillions of dollars have been pumped into the economy in recent years, contributing to an expansion of the money supply. While these measures were intended to stimulate growth and mitigate the effects of the pandemic, critics argue that they have added fuel to the inflationary fire.

History is replete with examples of nations grappling with hyperinflation and currency devaluations. From the Weimar Republic in the 1920s to more recent cases in South America and Africa, the consequences of uncontrolled inflation are severe: widespread poverty, social unrest, and a drastic loss of faith in the government and its institutions. These historical examples highlight the potential for even developed economies to fall victim to extreme economic instability when imbalances are ignored for too long.

Some argue that the current situation shares worrying similarities with these past crises – excessive government spending, rapid growth in money supply, and a weakening of public confidence. While it’s impossible to predict the future with certainty, understanding these historical patterns is crucial for informed decision-making.

Given the uncertain environment, many individuals and institutions are looking for ways to safeguard their savings and investments. Diversification is always a valuable strategy, but in times of perceived crisis, alternative asset classes are often explored.

Traditional assets may lose their value in an inflationary period, as prices rise and purchasing power erodes. This has led some to consider holding physical assets, such as precious metals like gold and silver. Historically, these metals have been seen as stores of value and a hedge against inflation. The idea is that while fiat currencies may depreciate, the value of physical assets can hold steady or even appreciate.

Ultimately, the future of the U.S. economy remains uncertain. While some experts dismiss the risks, the possibility of significant economic challenges, including inflation and currency volatility, is a valid concern.

The most important step individuals can take is to stay informed, understand the potential risks, and make informed decisions based on their unique circumstances. This involves careful attention to news and expert analysis, as well as a proactive approach to personal financial management. Rather than panic, it’s time for thoughtful planning and diversification to navigate the potential challenges ahead.

https://youtu.be/Y_G74U4fVu4

News, Rumors and Opinions Monday 1-13-2024

DJ:  DID YOU KNOW?

Jan 12th Post 2025 (Cultural Differences)

I recently read an article about an individual who moved to the U.S. from New Zealand 12 years ago. They were expressing their difficulty, 12 years later, on adjusting to the cultural differences.

They expressed how when they first moved here they discovered the U.S. tends to have a more cutthroat, competitive culture in which people can be overlooked or dismissed if they’re not prepared to speak loudly and clearly about their accomplishments.

Back in New Zealand however, they were used to, and raised in, a culture that encourages people to act humble. Where people don’t tend to talk up their accomplishments and try to give credit to others (even if it rightly belongs to them).

Though this may be a small thing, these sorts of cultural differences can feel like a minefield to navigate and has made some social interactions a constant source of stress for years. We have to keep in mind for a GCR to occur these cultural differences are going to have to be accounted for. Who gets what, how they get it, and how the process will integrate through all these various cultural minefields.

Remember, the GCR is a redistribution of global wealth drawing from multiple countries and multiple cultural differences, not printing more money. Cultural differences play a pivotal role because they shape how societies view wealth, fairness, and redistribution.

In some cultures, wealth is viewed as a sign of hard work and individual success, while in others, it’s seen as a communal resource meant to be shared. Redistribution may face resistance in societies that highly value individual achievement and property rights.

While many cultures have religious or ethical systems that influence their stance on wealth sharing. For example: Zakat in Islam mandates wealth redistribution as a religious duty, western cultures influenced by Protestant ethics may stress individual responsibility over collective welfare.

Cultural definitions of fairness way in. Fairness can mean different things across cultures. In the Global North, fairness might emphasize equal opportunity. In the Global South, fairness may focus on compensating for historical injustices like colonialism or exploitation. These differing views could complicate consensus on how wealth should be redistributed globally.

How we approach and address cultural differences would have to include some type of inclusive dialogue that would engage diverse stakeholders to ensure all voices are heard, respecting cultural norms and values.

They would have to highlight shared global challenges like poverty and climate change to build solidarity. They have to design flexible redistribution models tailored to cultural contexts rather than imposing a one-size-fits-all solution. And most of all we will have to strengthen international institutions and promote transparency to gain widespread support.

So all the massive changes to the mechanisms required to pull this off aside, getting the global community and integrating the cultural norms of each participant to sink together, is in itself a challenge we don’t normally consider.

Not everybody likes to go skinny dipping, if you know what I mean.  DJ

https://dinarchronicles.com/2025/01/12/the-office-of-poofness-weekly-report-update-from-poof-and-dj-1-12-25/

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

Militia Man  I try to be calm cool and collected as much as possible because I'll be honest with you, this transition, when it happens is going to be something that everybody's going to have to deal with and it's going to be a shock.  Just like the World Bank had said to not just us but they said to the countries of the world, be prepared for shock.  They said it in writing that, hey, be prepared for shock and when Iraq does a big move and other currencies are involved markets will be shocked to some degree...

Jeff  They're bringing the budget off the shelf...I told you the budget would stay on the shelf collecting dust until they're about ready to revalue.  From October 8th to now the budget did remain on the shelf collecting a whole bunch of dust.  What did I tell you about January?  I said January is a very critical month.  Keep your eyes on it...They are now talking about pulling the budget off the shelf and getting the budget schedules approved by parliament.  Thing are now finally preparing to happen and come forward because they're about ready to revalue the currency.

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IQD: How Will Trump Affect the Iraqi Dinar?

Edu Matrix:  1-13-2025

IQD: How Will Trump Affect the Iraqi Dinar? –

In this video, we dive deep into the anticipated strategies of Trump’s administration regarding Iran-backed militias in Iraq. As economic tools become the weapon of choice, we explore how Iraqi leaders will navigate their complex relationship with Washington, especially in the wake of manipulative tactics aimed at ousting key officials.

With key appointments like Rep. Michael Waltz and Joel Rayburn, expect a hawkish approach targeting Iran’s influence and disrupting its financial channels.

 Will these bold moves stabilize the Iraqi Dinar and reshape regional dynamics? Join us as we unravel the implications of potential sanctions and the newly formed U.S. foreign policy team.

https://www.youtube.com/watch?v=EF2R2_9zDzw

“Coffee With MarkZ” Monday Morning Chat 1-13-2025

Thank you MarkZ for all your time, and encouragement daily….. PDK

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 Monday morning MarkZ, mods and RV’ers

Member: And another week begins!!!!!!!!!!!!!!!!!!!

Member: MarkZ!! Brent Crude 80.47 Texas time 8:43!! Let's RV!! Isn't this what we are waiting on??

Member: Could this be our week?

MZ: That’s a great question. I know a number of bond contacts are suddenly convinced that this is our week. They had been afraid it would be after the inauguration….but are now hearing they could get their 1% before…..then 9% a week or two after. Then they set up traunches (payments) for the balance.

Member: I wonder if when bonds get their 1% if we get our notifications?

Member: Will we have full access to all our funds when we exchange Mark?

MZ: Yes…I am told we will have full access on currency exchanges

MZ: Groups are pretty quiet so far today. I do know that a couple bankers have meetings this afternoon. These are members of “Wealth Management”  

Member: MM is pretty excited

MZ: There has been fantastic news. Now we just need that to translate into dollars for us all.

Member: Rumors out there: HCL got approved in the parliament with the Green light to start And tonight they are updating the payment system in Iraq from 12:00 - 2:00 am

Member: I would be willing to bet that the HCL is done, we are just waiting for an event. Will be so glad when this is all over.

Member: Disappointed about the lack of quorum.

MZ: Yes we were told the Iraqi parliament did not get a quorum to do the second reading of HCL. Yet. But they do expect it tomorrow. It could be misinformation…..but that is not what I hear from the Iraqi Press right now.

Member: "Breaking the quorum" .. A demand to publish the names of those absent from the Iraqi parliament session”

Member: MarkZ, I find it curious that Tonight, Iraq is shutting down for 2 hrs, their electronic payment system!

Member: Zoom News announced that tonight at Midnight Iraq time, the payment system will shut down for updates.

MZ: They are updating their electronic systems specifically for borders and customs …this is a scheduled update. They are using the AYUSCUDA system for all their borders.

Member: "2025 budget is on the verge of legislation, and delaying the schedules will not stop the decision" - Jamal Kojer

Member: Zoom news Baghdad: The Iraqi Parliament has completed the second reading of the Federal Budget Law amendment which seeks to break the oil export deadlock with the Kurdistan Region halted since March of 2023

MZ: they are posting opposite/opposing  articles…they do it on purpose to cloud the timing…...so thanks for that one. .

Member: Iraq loves smoke and mirrors.

Member: where there is smoke there has to be fire?

MZ: “Will Trump strengthen the US presence in Iraq instead of withdrawing?” The US needs to project strength in the region. Their best bet is to work closely with Iraq , who is becoming a leader in the region. I believe he will be working with the Iraqi government- not against them.

Member: Informed political source revealed, on Saturday evening, an upcoming visit by the envoy of the US President-elect, Donald Trump, to Iraq, carrying message to Prime Minister Mohammed Shia al-Sudani.

Member: Trump said Iraq talks differently privately then they do publically.

MZ: Absolutely. It is a mind set difference all throughout the Arab world.

Member: My Wells Fargo finally confirmed the RV.

MZ: They all know its coming…..They know we are having a complete change in the system and we are going asset backed…They know gold is an important piece. Im not sure if they will use the same terminology you and I use or will they call it something different?

Member: They may not call it a QFS…..but we know what the new system does….safer and faster and much better.

Member: What is your gut feeling Mark?

MZ: My gut is screaming sometime between now and Jan 22. Just a guess……

Member: If the RV doesn't happen before February this year I will be really surprised!

Member: Why does the finish line keep moving further away every week?

Member: Maybe the finish line isn’t moving…..maybe we are waiting for the starting line to begin next Monday on Jan 20th?

Member:  I have my currencies & receipts in a fireproof bag, ready to go, LOL

Member: Hope everyone has a great day today!

Member: Thanks so much Mods Mark and friends....Stay positive as the best is yet to come.

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!

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Iraq Economic News and Points to Ponder Monday AM 1-13-25

During 2024.. The Iraqi Central Bank Imposes Fines Worth 279 Billion Dinars On Banks And Money Changers
 
Economy    2025-01-11 23:52  Shafaq News/ The Central Bank of Iraq announced, on Sunday, the imposition of fines on banks and non-banking institutions (exchange companies) worth 279 billion Iraqi dinars, during the year 2024.
 
A table of the bank, viewed by Shafaq News Agency, showed that the fines imposed on banks and financial companies during the past year amounted to 279 billion and 144 million and 977 thousand and 628 dinars, indicating that “the fines also included 238 administrative penalties for these banks and non-banking institutions, distributed between warning and warning.” And the grace period.”

The table showed that “the month of January witnessed the highest fines on banks and non-financial institutions, as these fines amounted to 98 billion, 277 million, 722 thousand and 62 dinars, with administrative penalties amounting to 17 penalties, while the month of September witnessed the lowest fines, as they amounted to 2 billion, 331 million, 465 thousand and 48 dinars in penalties.” Administrative penalties amounted to 13.”
 
The table did not show the names of the banks on which fines were imposed, nor the nature of the administrative penalties.
 
The Association of Investors in the Iraqi Stock Exchange criticized the Central Bank of Iraq's increase in fines on banks, noting that it would affect the profitability of investors in the shares of these banks.  
  
https://shafaq.com/ar/اقتصـاد/خلال-2024-المركزي-العراقي-يفرض-غرامات-بقيمة-279-مليار-دينار-على-مصارف-وصيرفات 

Central Bank Renews Directive To Spread And Expand Financial Services And Atms

Banks  Economy News – Baghdad   The Central Bank of Iraq renewed, on Sunday, a directive to banks and non-banking financial institutions to spread and expand their financial services in areas that lack the presence of various services for bank card holders.

The Central Bank said in a statement received by "Al-Eqtisad News" that "the bank is working within its strategy to provide various services to bank cardholders, by expanding the spread of cash delivery outlets and through all available channels, including ATMs and POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq."

The statement added, "The Central Bank confirms in its circulars that included directing banks and non-banking financial institutions to spread and expand their financial services in areas that lack the aforementioned services."

He continued, "The bank seeks to develop these services by establishing the latest infrastructure for financial products and services in Iraq, and improving them continuously," calling for "submitting inquiries and complaints, if any, through the following link: https://complaint.app.cbi.iq/." 79 views  Added 2025/01/12 - https://economy-news.net/content.php?id=51858

Tasks of the Directorate of Supervision of Non-Banking Financial Institutions
 
    1- An introductory overview of the directorate:
    The Directorate of Supervision of Non-Banking Financial Institutions at the Central Bank of Iraq is responsible for licensing, supervision and control of non-banking financial institutions, with the aim of protecting the financial system from potential risks and enhancing confidence in the non-banking financial sector.
 
It also seeks to ensure the provision of safe and effective financial services to citizens, in addition to ensuring that these institutions comply with laws and instructions in accordance with global standards in the field of compliance, which contributes to enhancing financial stability.
    
    2- The directorate’s powers and tasks:
    - Licensing non-banking financial institutions.
 
        All license applications are carefully examined in accordance with the principle of equality between all applications, in order to ensure the availability of conditions that allow it to compete in the Iraqi market and keep pace with rapid developments in the global and local financial sectors, while achieving the highest levels of efficiency and transparency.
 
    - Supervision and control of non-banking financial institutions.
 
        This directorate acts as a supervisory authority, adopting a flexible and contemporary supervisory approach that enables it to carry out supervision and monitoring to ensure success in the Iraqi financial sector.
    
    3- Laws, regulations and instructions.
 
        Central Bank of Iraq Law (Link to PDF).
        Anti-Money Laundering and Terrorist Financing Law No. 3 of 2015 (Link to PDF).
        Electronic Payment Services System No. 2 of 2024 (Link to PDF).
        Work regulations for agents of foreign remittance service providers for the year 2021 (Link to PDF).
        Operating controls for exchange companies (Link to PDF).
        Regulations for the work of financing companies (Link to PDF).
    
    4- Types of non-banking financial institutions.
    A- Types of non-banking financial institutions
 
        Electronic payment companies (redirect link to the electronic payment companies page).
        Exchange companies (redirect link to the exchange companies page).
        Finance companies (redirect link to the finance companies page).

    B- Licensing requirements and controls for each type.
 
        Electronic payment companies (Link to Page).
        Exchange companies (Link to page).
        Finance companies (Link to page).
    
    5- Control and inspection procedures.
 
        Oversight methodologies and inspection mechanisms (Link to PDF).
        Periodic reports required from institutions.
        Requirements for appointments to leadership positions (Link to PDF).
    
    6- Reports and publications.
    7- Advertisements
    8- Updates related to laws and instructions.
    9- Workshops and training courses.
    10- Communication channels.
    
    11- The official mail of the directorate.
 
        The Directorate’s email ( nbfi.supervision@cbi.iq ).
        The official email of the Exchange Companies Control Department (Company.sup@cbi.iq) .
        The official mail of the Finance Companies Control Department.
        The official email of the Electronic Payment Service Providers Monitoring Department (electronicpay.bs@cbi.iq)
  
https://cbi.iq/news/view/2759 

 National Data Center, Customs And Border Ports Authority Announce Launch Of Customs Automation System

Sunday 12 January 2025 | Economic Number of readings: 198  Baghdad / NINA / The National Data Center at the General Secretariat of the Council of Ministers announced the launch of the "ASYCUDA" system in cooperation with the General Authority of Customs and the Border Ports Authority, in ten land, sea and air border ports, after conducting a comprehensive assessment of the infrastructure in 14 border ports, within the framework of supporting the government's program for digital transformation and automation of customs operations in Iraq.

Director of the National Data Center Department, Ammar Mazhar Al-Tamimi, stressed that the success of operating the system reflects the exceptional efforts made to develop the infrastructure supporting customs automation, pointing to the government's commitment to the success of this vital project that contributes to enhancing the efficiency of customs operations and achieving transparency.

Al-Tamimi pointed out, according to a statement by the Secretariat of the Council of Ministers, that the efforts included providing the General Authority of Customs with modern technical equipment, in addition to establishing a secure network system based on advanced servers and firewalls, with the allocation of a separate environment to ensure data security and link the system to the secure government network. "

In a related context, the General Authority of Customs in the Ministry of Finance and the Border Ports Authority, with the support of the National Data Center, continue to work on expanding the scope of the system to include additional ports, including Basra International Airport, Khor Al-Zubair Port, and Abu Flus Port, which are scheduled to be operational in the coming months."

The customs automation project aims to raise the efficiency of customs performance and facilitate the movement of goods in line with international standards, in a qualitative step to support the national economy and improve the business environment in Iraq. " https://ninanews.com/Website/News/Details?key=1179572

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

Seeds of Wisdom RV and Economic Updates Monday Morning 1-13-25

Good Morning Dinar Recaps,

SEN. TED CRUZ: FIGHTING REGULATORY OVERREACH, CHAMPIONING BITCOIN

In an interview with Cointelegraph, US Senator Ted Cruz discusses Bitcoin’s role in driving small business growth, its potential as a hedge against inflation and why Texas is becoming a top crypto hub.

In an exclusive interview with Cointelegraph, US Senator Ted Cruz shared his vision for Bitcoin, the broader crypto industry and the future of his home state of Texas.

As a self-proclaimed Bitcoin miner, Cruz emphasized the potential of BTC to empower small businesses, drive innovation, and serve as a hedge against inflation.

Despite his optimism for the future of BTC and crypto mining, Cruz warned against hasty government regulations, stressing the need for Congress to better understand before overreaching with regulatory actions.

“Very few Members of Congress understand cryptocurrency, so I am urging my colleagues to proceed slowly and carefully with any regulations governing cryptocurrency,” he said.

Bitcoin’s impact on small businesses

Cruz said he is “bullish on Bitcoin,” praising its capacity to provide privacy, autonomy and independence from government control.

“Most congressional Democrats are deeply skeptical of Bitcoin,” he said. “They don’t like that it creates individual freedom, privacy, autonomy and independence from the government.”

With the incoming administration of US President-elect Donald Trump, Cruz predicted that “Republicans will unleash small businesses and cryptocurrency like never before.”

“I’m proud to lead the fight to defend cryptocurrency from overreaching government regulation. I introduced legislation to prohibit the development of a central bank digital currency and to clarify that the Federal Reserve has no authority to do so unilaterally.”

Texas as an oasis for Bitcoin

Cruz described Texas as “an oasis for Bitcoin” due to its abundant, low-cost energy and business-friendly environment. He said the state’s “frontier mentality” and low taxes have made it a magnet for Bitcoin mining firms and crypto enthusiasts.

“Cryptocurrency mining requires dependable, low-cost energy, and if Texas is known for anything, it is abundant low-cost energy,” Cruz said. “I am thrilled to see so many jobs coming to Texas, and we need to make sure that trend continues and accelerates,” he added.

Recent developments, such as Hive Digital relocating its headquarters to Texas and Marathon Digital acquiring a wind farm in the state, underscore Cruz’s sentiment.

Cruz told Cointelegraph that, to his knowledge, he is the only member of the Senate who is a BTC miner and has “three miners hashing in West Texas right now.”

“I have a weekly buy order to take advantage of dollar-cost averaging,” he said. “I’ve been investing for several years, over which time Bitcoin’s value has roughly tripled.”

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

INCOMING TREASURY TO SELL BITCOIN ETF HOLDINGS

According to a recent report by Bloomberg, hedge fund manager Scott Bessent, who was recently nominated to be the new Treasury secretary, will divest his Bitcoin ETF holdings. The billionaire American investor owns no more than $500,000 worth of shares of BlackRock's iShares Bitcoin Trust ETF (IBIT). Overall, Bessent has listed more than $500 billion worth of assets.

@ Newshounds News™

Read more:  U Today

~~~~~~~~~

RIPPLE CTO REVEALS COMPANY'S MEDIA STRATEGY ON XRP

Ripple CTO David Schwartz breaks silence on crypto company's approach to misinformation regarding XRP

Ripple's CTO David Schwartz recently shared some thoughts on the company's media strategy during its three-year legal battle with the Securities and Exchange Commission. 

The case ended with Ripple getting a partial victory, after they argued that XRP, the cryptocurrency associated with Ripple, should not be classed as a security. The court concluded that XRP is not a security, but the crypto company was fined for selling coins to institutional clients. 

This clarified the asset's status, which has big implications for both the San Francisco-based company and the wider crypto market.

Schwartz talked about the challenges Ripple faced in dealing with false information about XRP during the lawsuit. He admitted that the company couldn't do much to directly challenge the false stories about the cryptocurrency because of legal and strategic limits.

Instead, they relied on their community, also known as the "XRP Army," to spread the right message. But this meant that misinformation and speculation spread, which was not ideal.

Schwartz said that Ripple tried not to amplify unverified claims or people spreading misinformation on purpose, but he admitted that this approach might have had the opposite effect. He said that if they dealt with inaccuracies, they might accidentally give them more credibility or visibility, which would make it harder for Ripple to respond to the media.

Schwartz also talked about how Ripple tries to tell the difference between helpful contributions and baseless claims in the XRP community. While the company recognized the importance of fostering a positive narrative, it maintained caution in engaging with content or individuals that might harm its reputation or mislead the public. #XRP #XRP News #Ripple News

@ Newshounds News™

Source:  U Today

~~~~~~~~~

MASTERCARD INTRODUCES CRYPTO CREDENTIAL FOR SEAMLESS P2P TRANSACTIONS IN UAE, KAZAKHSTAN

▪️Mastercard has launched Crypto Credential in the UAE and Kazakhstan to simplify crypto transactions.

▪️The solution ensures secure transactions by verifying both the sender’s and recipient’s wallet compatibility.

Mastercard has launched its Crypto Credential solution, which will make it easier for people in the UAE and Kazakhstan to use cryptocurrencies. This launch enables the users to send and receive digital assets through easily memorable names instead of complicated blockchain addresses, making it easier to incorporate crypto.

Crypto Credential is one of Mastercard’s efforts to strengthen the security of digital asset transactions. Through cooperation with regulated exchanges like CoinMENA in the UAE, Fuze in Dubai, and ATAIX Eurasia in Kazakhstan, the solution is designed to enable the verification of transactions and ensure that both transacting parties have met certain verification standards. It also checks that the recipient’s wallet can accept the transferred asset.

It ensures that crypto users have a certain degree of confidence in the service, which checks the transaction details, including Travel Rule data and metadata sharing. Mastercard believes simplicity is key in crypto transactions to help boost trust among consumers and businesses.

“We are excited to see Mastercard embracing blockchain technology,” said Talal Tabba, CEO of CoinMENA. “Innovations like Crypto Credential are key to making digital assets more user-friendly, especially for those transitioning from traditional finance.”

How Mastercard Crypto Credential Works

The adoption of Crypto Credentials begins with the user’s validation in accordance with the Mastercard guidelines. After successful validation, users are given a unique alias that can be utilized on any supported exchange for transferring and receiving cryptocurrencies.

When a transfer is initiated, the system verifies if the recipient’s alias is active and if the wallet of the recipient supports the given digital asset. If not, the sender is informed, and the transaction is stopped to avoid the loss of the funds. This mechanism ensures security and ease of use since users are shielded from mistakes and deceit.

Initially, the pilot phase will cover only peer-to-peer transactions. Nevertheless, Mastercard plans to use Crypto Credentials in several services in the future. Some of the possible applications are Non-Fungible Tokens (NFTs), ticketing, and other new payment applications based on the market’s needs and legal frameworks.

A Broader Expansion Across Regions

Mastercard Crypto Credential is not only available in the UAE and Kazakhstan. It is part of a greater implementation strategy for the company’s commercialization plans in markets across North America, Europe, Latin America, and Asia-Pacific. This expansion enables the user to transfer digital assets not only within these regions but also across blockchains and types of assets.

The new initiative has garnered support from industry leaders. Arutyun Poghosyan, CEO of ATAIX Eurasia, expressed enthusiasm about the collaboration, stating, “We are incredibly excited to implement Mastercard’s Crypto Credential technology. This partnership strengthens our position in the crypto space.”

In addition to the Crypto Credential, Mastercard has also collaborated with JPMorgan to create innovative B2B cross-border payment flows. CNF has earlier covered that the partnership links Mastercard’s MTN and JPMorgan’s Kinexys Digital Payments and is beneficial for businesses, according to CNF. 

This partnership leverages a single API to streamline foreign transactions, and minimize the time that is usually lost in crossing borders and other barriers that have hitherto slowed down global trade.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

XRP BULLS IN ACTION? KOREAN EXCHANGE SEES STUNNING OUTFLOWS

Popular cryptocurrency XRP eyes mysterious $60 million whale activity on Korea's biggest exchange

A big XRP transfer from Upbit, South Korea's biggest crypto exchange, is causing some buzz about what it might mean for the popular cryptocurrency. Whale Alert tracked the withdrawal of 24 million XRP, worth about $60.63 million, from Upbit's wallet "rDxJNb" to an address that had not been recognized before, "r9n1JL."

 It is common for such a movement to be made between the big players in the cryptocurrency game, like Ripple or major exchanges like Binance, so it's possible this wallet could even belong to Upbit itself. But this is just guesswork, and we are still not sure who owns the address.

While it is tempting to think this is a sign that whales are building up their holdings, it's best not to jump to any conclusions just yet. Have to do some more digging and keep a close eye on things to see what is really going on.

@ Newshounds News™

Read more:  U Today

~~~~~~~~~

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Thank you Dinar Recaps

7 Surprising Money ‘Rules’ Most People Don’t Know (But Should)

7 Surprising Money ‘Rules’ Most People Don’t Know (But Should)

Sarah Bourassa  Sun, January 12, 2025  HuffPost Life

You’ve probably heard common financial advice like keeping a budget and trying not to spend more than you make. But other tips aren’t as well-known that can help you save a lot of money and create a financially healthy life. 

From daily hacks to long-term tips, we talked to financial experts about not-so-obvious money advice they follow. Here’s what to know:

1. Sometimes you have to spend more to save more.

“A low price on a lousy product is actually a terrible deal because you will end up spending more, in the long run, to replace cheaply made items that break easily,” Andrea Woroch, a consumer-finance and budgeting expert, told HuffPost. “Focus on quality and spend more if it means it will last.”  

Woroch tries to save on quality merchandise by shopping second-hand for name brands. For big-ticket items, she recommends taking advantage of retail sales events (like Amazon Prime Day) and buying seasonal items (like patio furniture and winter clothing) at the end of the season. Other tips: Participate in free loyalty programs and search for online coupons before making a purchase.

2. Don’t be too restrictive with your budget, and don’t try to change it all at once.

“Although a detailed budget keeps you on track to meet your financial goals, one that is too restrictive will actually backfire quickly due to burnout,” Woroch explained. “[And] if you try to change all your spending habits overnight, it will be difficult to stick to the plan.” 

Instead, she suggests making a few small changes to your spending and savings habits — and then building on these once they become routine.

She said it’s also important to make room in your budget for expenses that matter to you. For example, if a dinner date with a friend or partner is a priority, keep this in your budget. Find other ways to cut down on spending, like canceling unused subscriptions and unplugging gadgets to decrease energy bills.

3. Beware of convenient methods of payment, like auto-renew.

TO READ MORE:  https://www.yahoo.com/finance/news/7-surprising-money-rules-most-080013006.html

“Tidbits From TNT” Monday Morning 1-13-2025

TNT:

Tishwash:  Central Bank Renews Directive to Spread and Expand Financial Services and ATMs

The Central Bank of Iraq renewed, on Sunday, a directive to banks and non-banking financial institutions to spread and expand their financial services in areas that lack the presence of various services for bank card holders.

The Central Bank said in a statement received by "Al-Eqtisad News" that "the bank is working within its strategy to provide various services to bank cardholders, by expanding the spread of cash delivery outlets and through all available channels, including ATMs and POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq."

The statement added, "The Central Bank confirms in its circulars that included directing banks and non-banking financial institutions to spread and expand their financial services in areas that lack the aforementioned services."

He continued, "The bank seeks to develop these services by establishing the latest infrastructure for financial products and services in Iraq, and improving them continuously," calling for "submitting inquiries and complaints, if any, through the following link: https://complaint.app.cbi.iq/."link

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

Tishwash:  Currency smuggling.. Central Bank punishes 10 Iraqi banks due to foreign transfer violations

MP Baqir Al-Saadi confirmed today, Sunday, that the Central Bank of Iraq issued penalties against ten Iraqi banks due to violations related to the foreign transfers file, which has become a direct threat to the local economy.

Al-Saadi said in a statement to Al-Maalouma Agency, “The file of smuggling hard currency outside Iraq is still a source of great concern, amidst multiple question marks about the mechanisms for implementing these operations, especially with the ongoing investigations into the commission of serious violations by exchange offices and banks in foreign transfers.”

He added that "the penalties issued by the Central Bank against 10 banks so far come within the framework of reducing violations related to foreign transfers, which are considered one of the most prominent methods used to smuggle currency out of the country."

Al-Saadi pointed out that “currency smuggling has serious effects on the local economy and causes an increase in financial crises in the country,” noting that “most of the transfers made for the purpose of smuggling go to one of the Gulf countries, which "Requires serious reconsideration and the implementation of strict measures to stop this ongoing bleeding."

The representative stressed that "the Iraqi Financial Institution is working seriously to address this problem by setting new criteria and re-evaluating the tools used in financial transactions, with the importance of revealing the results of the investigations to public opinion." link

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

Tishwash:  Government Advisor: ASYCUDA System is a Vital Tool for Developing Customs Work and Boosting International Trade

The Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Salih, reviewed today, Sunday, the importance of adopting the ASYCUDA system in customs administration, noting that it reduces delays at ports and boosts international trade.

Saleh told the Iraqi News Agency (INA): "ASYCUDA is a customs data management system developed by the United Nations Conference on Trade and Development (UNCTAD) since the eighties of the last century, as this system aims to simplify and accelerate customs and border crossing operations using modern digital technology, according to the generations of the system applied, including the second advanced generation that relies on cloud digital technology."

He added that "in line with the government program to enhance the efficiency of collecting non-oil revenues and make them no less than 20% of total revenues, the Ministry of Finance and government support agencies have taken the step of joint cooperation with the United Nations to develop customs control and collection systems and control the movement of imports and exports in accordance with the best digital measures in applying customs tariffs on incoming imports and conducting matches with countries of origin."

Saleh continued that "the General Authority of Customs and the Border Ports Authority completed the procedures for working with the ASYCUDA system last year and are progressing in the new year 2025, including providing high-quality digital infrastructure," noting that "the importance of implementing the ASYCUDA system is that it provides comprehensive automation of customs operations, such as data recording, fee assessment, customs clearance, and records management."

The Prime Minister's Advisor for Financial Affairs explained that "this system reduces delays at border crossings and increases efficiency, in addition to enhancing transparency and disclosure of traded materials, and most importantly, it reduces corruption by reducing direct human interaction and adopting a reliable electronic system for recording and processing data," noting that "the increase in customs revenues that occurred last year was due to ASYCUDA's role in improving the process of assessing customs duties and taxes, which ensures fair and accurate collection of revenues."

Saleh explained that "the system enhances international trade by reducing administrative obstacles and allowing for the acceleration of the clearance process, which encourages the growth of trade between countries, and helps support analysis and statistics, and even provides a comprehensive database on the movement of goods across borders, which supports decision-makers in setting economic and trade policies. As for improving border security, the ASYCUDA system allows for better tracking and inspection of shipments, which helps combat smuggling and illegal activities."

He stated that "the ASYCUDA system is a vital tool for developing customs work and achieving a balance between facilitating trade and protecting borders, which makes it a fundamental pillar of any modern customs system, as Iraq is among the group of Arab countries that apply this system in an integrated manner in ports, airports and land borders, including Jordan, the Emirates, Saudi Arabia and Egypt." link

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Mot: .. Warning them Young fur Sure!!! 

Mot: .... Frustrating When This Happens  

MilitiaMan & Crew Iraq Dinar News-Central Bank Globalizing Iraqi Banks-Completes External Transformations

MilitiaMan & Crew Iraq Dinar News-Central Bank Globalizing Iraqi Banks-Completes External Transformations

1-12-2025

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=h0HK_XvQx4s

News, Rumors and Opinions Sunday PM 1-12-2025

TNT:

Tishwash:  Kurdish MP: Postponing today's session is a shock to MPs, and the parliament presidency bears responsibility

The representative of the Kurdistan Democratic Party, Jiay Timur, expressed his dissatisfaction with the performance of the current parliamentary session, while describing the lack of quorum and the adjournment of the session before it began as a “shock” to the representatives.

Timur told {Euphrates News} that: "The lack of quorum and the adjournment of the session before it started was a shock to the MPs, and there were 154 MPs in attendance in today's session."

He stressed that "announcing sessions without holding them due to the absence of MPs has become a recurring phenomenon," holding the parliament presidency "responsible for this delay."
Timur stressed "the need to pressure MPs to attend in order to legislate laws that affect the lives of citizens."

He pointed out that "the disagreements over some laws are because they concern certain segments or components and not others," explaining that "the agenda of today's session included seven non-controversial paragraphs, and it was expected that the session would be held without problems." link

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

Tishwash:  The Central Bank is working to provide various services to bank card holders.

The Central Bank of Iraq works within its strategy to provide various services to bank cardholders, by expanding the spread of cash delivery outlets and through all available channels, including ATMs and POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq.

The Central Bank confirms in its circulars that included directing banks and non-banking financial institutions to spread and expand their financial services in areas that lack the aforementioned services.

While the bank seeks to develop these services by establishing the latest infrastructure for financial products and services in Iraq, and improving them continuously.

The Central Bank invites you to submit inquiries and complaints, if any, through the following link:  https://complaint.app.cbi.iq/

Central Bank of Iraq 
Media Office  January 12, 2025  link

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

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

Militia Man  We've been spot on talking about the dollar auctions going to cease and sure enough they have.  I'm thankful that has happened because I know what I own and I'm looking forward to it just like everybody else.

Frank26  Last week I followed [the parallel black market rate]...On Sunday it was 1310, on Monday it was 1275, on Tuesday it was 1170, Wednesday it was 1160.  IMO Sudani is looking for the black market to reach 1,000.  When he does, IMO, the game is on.  That is the next step ladies and gentlemen.  They are watching the illegal black market...the value of the dollar is dropping, thank you CBI for stopping the auctions...We're getting close to the next step.

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

MARKETS A LOOK AHEAD: ON THE EDGE OF A WORLD DEBT MARKET IMPLOSION.

Greg Mannarino:  1-12-2024

https://www.youtube.com/watch?v=WHe0MNAc_Yk

ADDICTED TO SPENDING: How America’s Debt Addiction Is Triggering Collapse

Taylor Kenny:  1-12-2025

The U.S. economy is on a collision course with hyperinflation and a currency reset as reckless government spending spirals out of control. Discover why stagflation and hyperinflation are inevitable, what history teaches us about economic collapse, and how you can safeguard your wealth. Learn why physical assets like gold and silver are your best defense against the coming crisis.

https://www.youtube.com/watch?v=Y_G74U4fVu4

Iraq Economic News and Points to Ponder Sunday Afternoon 1-12-25

Al-Mandlawi: The House Of Representatives Seeks To Resolve Controversial Laws And Enhance Oversight To Combat Corruption

Political | 12/01/2025  Mawazine News – Baghdad  The First Deputy Speaker of the Council of Representatives, Mohsen Al-Mandalawi, affirmed today, Sunday, the commitment of the Council Presidency to complete controversial laws during the coming period, calling on the representatives to intensify their oversight efforts to combat corruption and protect Iraq's capabilities.

Al-Mandalawi explained, in a statement issued by his media office and received by "Mawazine News", that the launch of the first legislative term of 2025 represents a decisive opportunity to improve the Council's performance in the areas of legislation and oversight. He stressed the importance of deciding laws that serve the people and achieve their aspirations.

He added that "the parliamentary committees have been directed to intensify their efforts to complete important draft laws, and activate the oversight role in a way that contributes to undermining opportunities for corruption and preserving Iraq's wealth." He also pointed to the need to enhance transparency by hosting officials to discuss challenges and find solutions to problems that hinder the implementation of public policies.

Al-Mandalawi stressed the importance of coordination with the executive authority to accelerate the completion of legislation that directly affects the lives of citizens, and to support the government in implementing its electoral program, while improving communication with citizens to convey their problems and follow up on their solutions effectively. https://www.mawazin.net/Details.aspx?jimare=258469

Currency Smuggling.. The Central Bank Punishes 10 Iraqi Banks Due To Violations Of Foreign Transfers
 
Today 14:14  Information/Baghdad… Representative Baqir Al-Saadi confirmed today, Sunday, that the 
Central Bank of Iraq issued sanctions against ten Iraqi banks due to violations related to the foreign transfer file, which has become a direct threat to the local economy.
 
Al-Saadi said, in a statement to the “Al-Ma’louma” Agency, that  “the file of smuggling hard currency outside Iraq is still a source of great concern, amid multiple question marks about the mechanisms for implementing these operations, especially with the continuing investigations into exchange offices and banks committing serious violations in foreign transfers.”. 

He added,  "The sanctions issued by the Central Bank against 10 banks so far come within the framework of reducing violations related to foreign transfers, which are considered one of the most prominent methods used to smuggle currency outside the country." Al-Saadi pointed out that

  “currency smuggling
 
     has serious effects on the local economy, and
     causes an increase in financial crises in the country,” pointing out that
 
“most of the transfers that are made for the purpose of smuggling go to one of the Gulf countries, which requires serious reconsideration and the establishment of strict measures to stop this ongoing bleeding.”"

The representative stressed that "the Iraqi Financial Institution is working seriously to address this problem by setting new determinants and re-evaluating the tools used in financial transactions, with the importance of revealing the results of investigations to public opinion." Ended / 25F    
  
https://almaalomah.me/news/87949/economy/تهريب-العملة-المركزي-يعاقب-10-مصارف-عراقية-بسبب-مخالفات-الحو 

Financial Advisor: ASYCUDA System Boosts International Trade, Reduces Corruption At Customs Ports

Economy | 12/01/2025  Mawazine News –  Advisor to the Prime Minister for Financial Affairs, Mazhar Mohammed Salih, stressed today, Sunday, the importance of adopting the "ASYCUDA" system in the Iraqi Customs Administration, pointing to its role in reducing delays at border crossings and enhancing international trade.

Salih explained that the ASYCUDA system, developed by the United Nations Conference on Trade and Development (UNCTAD) since the 1980s, relies on modern digital technology to simplify and accelerate customs operations.

He added that Iraq is implementing the second generation of this system, which relies on cloud technology to provide comprehensive automation of customs operations, including data recording, fee assessment, customs clearance, and records management.

He pointed out that the implementation of the system comes in line with the government program to enhance non-oil revenues to reach 20% of total public revenues, explaining that joint cooperation with the United Nations aims to improve customs control and collection systems and control import and export operations according to the best digital standards.

Saleh revealed that the General Authority of Customs and the Border Ports Authority completed the implementation of the system during the past year, while providing a high-quality digital infrastructure to develop customs work in 2025, stressing that this system contributes to reducing corruption by reducing human interaction and adopting full automation, which increases transparency and supports efficiency.

He explained that ASYCUDA enhances international trade by accelerating the customs clearance process and reducing administrative barriers, in addition to providing a comprehensive database that supports economic and trade policy-making, pointing to its role in improving border security by tracking and inspecting shipments more accurately to combat smuggling and illegal activities.

Saleh concluded by saying that ASYCUDA represents a vital tool for achieving a balance between facilitating trade and protecting borders, stressing that Iraq joins a group of Arab countries, such as Jordan, the Emirates, Saudi Arabia, and Egypt, that implement this system in customs ports in an integrated manner.   https://www.mawazin.net/Details.aspx?jimare=258464

Iraq Surpasses Saudi Arabia In Oil Exports To America

Energy  Economy News – Baghdad  The US Energy Information Administration announced today, Sunday, that Iraq has surpassed Saudi Arabia for the second week in a row in oil exports to the United States.

The administration stated, in a table reviewed by "Al-Eqtisad News", that "the average US imports of crude oil during the past week from 10 major countries amounted to 6.016 million barrels per day, an increase of 251 thousand barrels per day from the previous week, which amounted to 5.765 million barrels per day."

She added that "Iraq's oil exports to America reached 180 thousand barrels per day last week, down by 32 thousand barrels per day from the previous week, which reached 212 thousand barrels per day, thus exceeding Saudi Arabia, whose exports to America reached an average of 69 thousand barrels per day."

The administration indicated that "the largest oil revenues for America during the past week came from Canada at a rate of 4.422 million barrels per day, followed by Mexico at an average of 392 thousand barrels per day, then Venezuela at 253 thousand barrels per day, and Brazil at 233 thousand barrels per day."

According to the table, "the amount of US imports of crude oil from Nigeria amounted to an average of 192 thousand barrels per day, from Ecuador 147 thousand barrels per day, from Colombia 72 thousand barrels per day, and from Libya 56 thousand barrels per day." 126 views  Added 01/12/2025 https://economy-news.net/content.php?id=51836

125 Billion Dinars Revenues Of The Iraqi Islamic Bank

Banks  Iraqi Islamic Bank announced its financial results for 2024, which showed positive performance in a number of key indicators, as assets rose to 2.65 trillion dinars compared to 2.2 trillion dinars in 2023, representing a growth of 20 percent.

Credit also witnessed a significant jump, reaching 934.9 billion dinars, compared to 637.5 billion dinars in the previous year, an increase of 46.6 percent.

In contrast, deposits declined to 751.2 billion dinars compared to 1.19 trillion dinars in 2023, a decrease of 37 percent, while revenues increased to record 175 billion dinars compared to 132.9 billion dinars, representing a growth of 31.6 percent, which was reflected in profits that reached 86.5 billion dinars after they were 76.6 billion dinars in 2023, an increase of 13 percent. 287 views  Added 2025/01/12 - 10:39 AM  https://economy-news.net/content.php?id=51841

Chinese Ambassador: $50 Billion Is The Volume Of Trade With Iraq And Dealing In Yuan Is In Its Initial Stages

Economy | 11:56 - 12/01/2025  Mawazine News – Baghdad    Chinese Ambassador Cui Wei confirmed today, Sunday, that the volume of trade cooperation with Iraq during 11 months reached 50 billion dollars, while he indicated that dealing in the yuan between the two countries is in its initial stages.  https://www.mawazin.net/Details.aspx?jimare=258455

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