Economist’s “News and Views” Monday 2-10-2025

Is GOLD The ONLY Thing That Will SURVIVE The Global Debt CRISIS? - Matthew Piepenburg

In this latest interview, Matthew Piepenburg discusses how the global debt crisis, particularly U.S. sovereign debt, is driving both inflation and gold prices higher, while explaining how BRICS nations are gradually moving away from dollar dependence.

He argues that while the U.S. won't lose its reserve currency status immediately, the combination of debt, currency debasement, and BRICS nations' increasing oil trades outside the dollar system will continue to strengthen gold's position as a long-term store of value.

0:00 Introduction

 0:28 Risk that trade wars become military wars

2:06 How will gold respond in this environment?

5:26 BRICs and de-dollarization

 8:53 Outlook for gold in 2025

https://www.youtube.com/watch?v=yZssvNfz8rc

Is Bitcoin REALLY The NEW GOLD?

Lynette Zang:  2-9-2025

In this video Lynette breaks down the key differences and similarities between the two so you can make educated decisions, that benefit you!

https://www.youtube.com/watch?v=PXlXyYR8LDY

A "Gold Run" May Have Begun at the Bank of England

Heresy Financial:  2-10-2025

TIMECODES

 00:00 Surging Gold & Market Stress

 00:24 Bank of England Bullion Discount

00:50 Spot Price Gap & Delivery Delays

 01:12 $5 Discount & Bank Run Concerns

 01:33 Confiscation History & Gold Repatriation

01:57 Poland’s Example: Moving Gold Home

 02:18 Delays & Fractional Reserve Suspicions

 02:42 Storing Gold Privately

03:00 BofE Issues vs. Wider Market

03:19 Global Demand & Lease Rate Jumps

 03:43 Gold’s 40% Price Surge

04:12 Parallels to 2020’s Rapid Run

04:33 Gold as Stability & Inflation Hedge

05:00 Big Money Positioning for Uncertainty

 05:39 Silver Markets & SLV Borrowing Fees

06:01 Shorting Difficulty & Physical Metal

06:22 Tariff Premium & BofE Explanation

06:50 Fractional Reserve Gold Exposures

 07:15 Gold’s Purchasing Power Over Time

07:38 Outpacing Tech-Driven Deflation

07:54 Gold as Savings & Asset Reserve

08:22 Get It Before You Need It

08:39 Affiliate Links & Closing Remarks

https://www.youtube.com/watch?v=xdpf34TyVI0

Iraq Economic News and Points to Ponder Monday Afternoon 2-10-25

Complex Networks And Ways To Smuggle The Dollar From Iraq To Iran .. An American Report Reveals The Details

2025-02-07 |10,063 views  Alsumaria News – Economy  An American report stated that numbers the huge of the auctions of the Central Bank of Iraq in selling hard currency raises doubts and anxiety about the possibility of smuggling a large part of the currency to Iran. The report stated that
 
"the sales of the Central Bank of the currency amounted to more than 81 billion dollars during 2024, which is a significant increase from the year 2023, as sales were approximately $41 billion."

On Wednesday, US President Donald Trump signed a presidential note to take immediate action from federal agencies to prevent Iran from using the Iraqi financial system.
 
"The country is facing a difficult test, as  Baghdad wants to meet the imposition of US sanctions, and  
at a time it seeks to maintain the stability of the country's economy and not enter into new crises," said Iraqi economic experts.
 
According to the report,
 
"Iran is using the financial system in Iraq in order to circumvent international sanctions, and  to find an important outlet to obtain the hard currency and smuggle it to Tehran."
 
The professor of international economic relations, Abd al-Rahman al-Mashhadani, stressed that "Iran's exploitation of the Iraqi financial system is a problem that we have warned about for years," noting that
 
"there" a set of methods that Iran follows in Iraq, which appears clearly in the balance of trade that tends to benefit exports Tehran, where Baghdad with a value of less than one billion dollars for this neighboring country.
 
Republican MP, Joe Wilson, revealed that  Trump issued a directive in which he called the Treasury and other American agencies to take immediate steps to ensure that the Iraqi financial system is not used by Iran to evade or overcome sanctions.
 
He also directed not to use the Gulf states as re-charging points in order to evade sanctions.
 
Wilson said in a post on the X platform, which attached it to a picture of the decision that Trump signed, that  these steps should ensure Iran financial system does not use the Iraqi to evade the sanctions, or bypass them, and the failure of the Gulf states as re-recharge points in favor of Tehran.
 
While the academic and professor of economics, Nabil Al -Marsoumi, said that  "Iran is officially issued by about $12 billion for Iraq, and  these are all revenues achieved in the dollar in favor of Tehran," noting that  "these numbers only reflect what is happening on the level of trade,  but there are many amounts that are smuggled By complex networks.”

 Al-Marsoumi agrees, "the existence of a group of importers, banks and money transfer offices to form networks that depend on fabricated documents, whether in quantities or value, in order to transfer billions of dollars annually", stressing "the presence of  two types of smuggling to the dollar in Iraq,
 
     one to introduce the hard currency to the Iraqi market, and the
     second to return His smuggling to Iran."

In August 2023, the Iraqi National Security Agency announced in a statement,
 
"The overthrow of the most prominent currency smuggling networks, which "included a group of suspicious financial and banking activities, has admitted that  fake companies have practiced commercial businesses as a cover for currency smuggling out of the country."
 
needs Iran currency the dollar to stabilize its deteriorating economy, which has been severely affected by US sanctions, while the troubled Iranian currency has lost much of its value.
 
"The mechanisms followed by Tehran in Iraq target official institutions such as the Central Bank, or private banks, some of which are considered facades of political parties," according to a member of the Parliamentary Finance Committee, MP Jamal Koger.
 
To ensure commitment to American standards regarding money laundering and sanctions on Iran, more than 20 Iraqi banks were prevented from carrying out transfers in dollars, but they are still working in Iraq using the dinar.
 
"Among the most prominent ways that Iran follows with the exploitation of the commercial sector, which provides Tehran, as goods are imported that are amplified, for example, the  deal may be worth a million dollars, to become on paper worth four million dollars," noting that "the method is The 
 
     second that began to spread to the establishment of Iranian factories inside Iraq, and
     their products are sold on the market, and revenues are transferred to Iran through specialized networks.
 
Even some cash amounts are sent directly by individuals crossing the border to Iran, especially with the boundary ports in the boundaries to track or prevent the smuggling of the currency.
 
private sector And Professor of International Economic Relations, Abdul Rahman Al-Mashhadani, stated that
 
"the Iraqi, which imports billions from Iran, usually depends on collecting the dollar from the parallel market, through specific exchange networks or even from individuals directly," stressing that
 
"these financial transactions with Iran usually does not take place through the central bank, especially after the electronic platform was imposed in a previous period.

Al-Mashhadani pointed out,  "The existence of information confirming that there is a fake Iraqi currency that is printed in Iran, and is pumped into the Iraqi market to obtain the dollar."

He explained that  "there are armed factions in Iraq, some of which were founded by investment companies, which transferred billions of dollars directly to Iran."
 
"Despite talking about the existence of Iranian-Iranian exchanges in which the Iranian Toman is used, the bulk of the deals are made in the American dollar," according to Al-Mashhadani. Al-Mashhadani asked,
 
"How do goods bought about $25 million per day from Iran?"

Among the means also in which Tehran is exploited by Baghdad, according to Al-Mashhadani,
 
"the operations of Iranian oils or the sale of Iranian oil as an Iraqi oil, as exchanges are carried out in the territorial waters in a step to circumvent international sanctions."

Al-Mashhadani identified  the mechanism that "certificates of origin and export of this oil are fabricated as from Iraq, and it is  re-exported to countries in East Asia, which is reselling."
 
On Thursday, the United States announced the imposition of financial sanctions, the first since President Donald Trump, targeting an "international network" accused of transporting Iranian oil to China to finance Tehran's military activities.
 
The US Treasury said in a statement that
 
"the sanctions target an international network that facilitates the transportation of millions of Iranian crude oil barrels, by hundreds of millions of dollars, to China," the US Treasury said in a statement.
 
In early 2023, the Central Iraq announced the adoption of an electronic platform in order to monitor the movement of the dollar sale and money laundering operations.
 
The academic and professor of economics, Al-Marsoumi said that  "the mechanisms that were developed during the last period to curb the currency smuggling to and from Iraq, did not succeed, especially the electronic platform."

He added that  "in some Iraqi markets, the Iranian transactions are made, but these sums are replaced again in the Iraqi interior in dollars."
 
At the beginning of this year, the Central Bank of Iraq suspended the work of the electronic platform mechanisms related to the sale of the dollar, while indicating the continuation of the mechanism of granting the dollar to travelers at airports.

Al-Marsoumi stated that  "the platform did not perform the purpose required of it, as the sales of the central bank increased from the dollar during the period that followed the opening of the platform, simply the importers were providing fabricated bills and even if they followed them in a fundamental way that cannot be detected."
 
Koger agrees that "the electronic money transfer platform was unable to stop smuggling difficult currencies from Iraq to Iran, and networks are active in transferring the cash dollar in the parallel markets."

Al-Mashhadani fears that "Baghdad affects the effects of international sanctions on Iran, as the recent decisions of Washington include stopping the import of Iranian gas in favor of Iraq."

 He said that  "the Iraqi economy may be shocked by these decisions, especially since Iraq depends on Iranian gas to generate electricity, and what may happen is a crisis in the event that the alternative to Iranian gas is not found."
 
The electricity file is sensitive in Iraq, as its 43 million residents suffer on a daily basis of electricity that may reach 10 hours. The matter is worse, the temperatures rise up to fifty during the summer.
 
In the event that the sanctions are expanded to include the banking system, it will lead to more economic pain, especially since 28 banks are subject to sanctions from 62 banks in Iraq.
 
"Iraq will not be able to break its economic association with Iran, especially with the great dependence on gas imports to generate electric energy to the Iraqi provinces."

 He said,  "The Iraqi government must talk to the American authorities, in order to continue to take exceptions to ensure the continued flow of gas."
 
has long granted The United States exemptions from applying sanctions by paying money to Iran in exchange for supplies of electricity, that Tehran does not use these funds except in "transactions that are not subject to sanctions" such as buying humanitarian goods, including food and agricultural products.
 
On Wednesday, Trump canceled the exemption granted to Iraq to import electricity and gas from Iran, while he also decided to prevent Tehran from "exploiting the funds of Baghdad."    
  
https://www.alsumaria.tv/news/economy/515580/شبكات-معقدة-وطرق-تهريب-الدولار-من-العراق-لإيران-تقرير-امريكي-يكشف-التف    

Prime Minister's Advisor Presents Model To Enhance Liberalization Of Monetary Bloc
 
Economy   02-8-2025, Baghdad - WAA - Nassar Al-Hajj   The Prime Minister's Financial Advisor, Mazhar Muhammad Salih, presented a proposal today, Saturday, that contributes to mobilizing idle funds for development projects.
 
Saleh told the Iraqi News Agency (INA):
 
"The presence of a large monetary bloc outside the banking system, which exceeds 85% of the total monetary issuance, constitutes a phenomenon with repercussions on the national economy." He explained that  "this is a phenomenon
 
     deeply inherited in the country's economic history, and is
     linked to the citizen's confidence in the banking systems and
     in long years of instability, which
     created a state of tendency towards widespread hoarding, as
 
this behavior involves the demand for cash in liquid form outside banks accompanied by a lack of confidence in this monetary behavior."

He added, "This leads to two main problems, the  first is the presence of idle money that   does not contribute to the completion of the income cycle, which  affects the balance between savings and investment, and thus  limits the potential for economic growth.

The  second problem is the spread of credit operations outside the banking system, where this money is lent at high interest rates of up to five times the official bank interest rates, which   increases the cost of economic financing and  leads to significant financial risks."
 
Saleh presented "a financing model that combines equity (shares) and credit rights (bonds), so that the
lender is treated as a shareholder, with a minimum guarantee of losses through insurance companies." He pointed out that  "this model, which is common in global financial markets,
 
     can contribute to mobilizing idle money for development projects,
     creating a new investment culture that supports the national economy."  
  
https://www.ina.iq/227648--.html  

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

Seeds of Wisdom RV and Economic Updates Monday Afternoon 2-10-25

Good Afternoon Dinar Recaps,

GOLD REACHES ALL-TIME HIGH AS BITCOIN STRUGGLES FOR MOMENTUM AMID MARKET UNCERTAINTY

▪️Gold has surged to a new all-time high, outperforming bitcoin year-to-date, as central banks continued aggressive purchases.

▪️Meanwhile, bitcoin’s price increase of around 5% since the beginning of the year has been marked by volatility, with markets reacting to Donald Trump’s proposed tariffs and broader macroeconomic risks.

Gold reached a fresh all-time high of $2,902 per ounce as of Monday, marking a 17.5% increase since the start of the year.

Gold’s bullish trajectory has been fueled by ongoing central bank purchases, concerns over global trade policies, and investor demand for safe-haven assets, according to a report from the World Gold Council. Its data shows global gold reserves increased by 694 tons in the first ten months of 2024, continuing the record accumulation trend from previous years. 

The report said central banks are expected to remain net buyers of gold in 2025, citing de-dollarization efforts and geopolitical risks as key drivers.

Among the largest gold buyers in 2024 were Poland, India, Turkey and China, with net purchases of 89.5 tons, 72.6 tons, 74.8 tons, and 44.2 tons respectively. Western sanctions on Russia’s central bank reserves in 2022 have been cited as a turning point, reinforcing gold’s role as a geopolitical hedge.

The World Gold Council report found that 69% of central banks expect to continue accumulating gold, while 83% of those in industrialized nations cite it as a hedge against inflation and financial instability.

Trump’s tariffs and market impact

Markets remain uncertain after President Donald Trump announced on Sunday a 25% tariff on all steel and aluminum imports, renewing fears of a global trade war. Steel and aluminum stocks surged in premarket trading in New York, with U.S. Steel and Nucor rising 8% and Cleveland-Cliffs gaining 9%. Alcoa also saw a 4% increase.

With Mexico and Canada among the top three U.S. suppliers, the tariffs cast doubt on last week’s temporary delay and could reignite trade tensions. Although stock futures showed optimism on Monday, QCP Capital sees a feedback loop emerging.

"President Trump, highly sensitive to market reactions, is facing a market increasingly calling his bluff. This could embolden him further, adding another layer of volatility," said QCP Capital.

While bitcoin is often discussed as a hedge against monetary and geopolitical uncertainty, its correlation with risk assets has remained elevated, making it susceptible to shifts in market sentiment, according to a Bitwise report on Monday. In contrast, gold’s traditional role as a safe haven has strengthened its appeal amid growing concerns over inflation and trade disruptions.

@ Newshounds News™

Source:  The Block

~~~~~~~~~

CFTC ANNOUNCES CRYPTO FRAUD ACTION AFTER ENFORCEMENT PRIORITIES SHIFT

Acting CFTC Chair Caroline Pham announced on Feb. 4 that the commission would essentially end its practice of regulation by enforcement.

The US Commodity Futures Trading Commission (CFTC) announced a consent order charging a New York resident with fraud in one of the agency’s first crypto-related enforcement actions under acting Chair Caroline Pham.

In a Feb. 10 notice, the CFTC said US authorities had charged Rashawn Russell with engaging in a digital assets trading scheme from 2020 to 2022, in which he solicited investors to contribute cryptocurrency to a fraudulent fund.

 According to the complaint, Russell misappropriated roughly $1.5 million through the scheme, which had him plead guilty to wire fraud in the US District Court for the Eastern District of New York.

“Russell guaranteed no loss to investors, and in some instances, guaranteed a minimum twenty-five percent return,” said the CFTC complaint filed on Jan. 16. “In reality, Russell intentionally and/or recklessly made false or misleading statements to solicit and retain investors.”

The enforcement case was one of the agency’s first actions since acting Chair Pham announced on Feb. 4 that the CFTC would be restructuring its Division of Enforcement’s priorities to focus on fraud.

 The commission said it planned to divide responsibilities for enforcement cases into two task forces focused on retail fraud and “complex fraud and manipulation.”

Crypto enforcement cases going into 2025?

Members at the CFTC elected Pham as acting chair on Jan. 20 amid the inauguration of US President Donald Trump, whom many expect will nominate a commissioner to fill former Chair Rostin Behnam’s seat. Behnam stepped down as chair on Jan. 20 but remained at the CFTC until Feb. 7, leaving the commission one seat shy of a full panel.

During the 2024 fiscal year under Behnam, the CFTC reported more than $17 billion in monetary relief, stemming mainly from the agency’s actions against crypto exchange FTX. 

Pham’s announcement regarding the commission’s shift in priorities suggested that the CFTC would focus less on regulating by enforcement for crypto firms handling digital assets considered commodities.

The US Securities and Exchange Commission — the country’s other significant financial regulator overseeing digital assets — announced in January that it would form a crypto task force to develop a regulatory framework.

Trump appointed SEC Commissioner Mark Uyeda as acting chair following the departure of Gary Gensler until the US Senate can consider the nomination of former commissioner Paul Atkins.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

RIPPLE'S FIRST FORAY INTO PORTUGAL: PARTNERS WITH UNICÂMBIO USING BLOCKCHAIN FOR INSTANT CROSS-BORDER PAYMENTS

Ripple has expanded its European presence by partnering with Unicâmbio, a leading currency exchange provider in Portugal, to facilitate instant cross-border payments between Portugal and Brazil

This collaboration marks Ripple's first foray into the Portuguese market, leveraging Ripple Payments to enable Unicâmbio's corporate clients to transfer funds quickly and efficiently between the two countries.

@ Newshounds News™

Read more:  The Defiant

~~~~~~~~~

HONG KONG SCIENTISTS BUILT A LICKABLE DEVICE THAT LETS YOU TASTE THINGS IN VR

The 15-gram "lollipop" uses food-grade chemicals and electrical currents to simulate nine different flavors, bringing a sense of taste to VR and AR environments.

@ Newshounds News™

Read more:  Decrypt

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Thank you Dinar Recaps

Some “Iraq News” Posted by Clare at KTFA 2-10-2025

KTFA:

Clare:  Iraq's revenues exceed 135 trillion dinars in 11 months

2/10/2025  Baghdad

The Ministry of Finance revealed, on Monday, that the volume of revenues in the federal budget during 11 months exceeded 135 trillion dinars.

Al-Eqtisad News followed the data and tables issued by the Ministry of Finance in February 2025 for the accounts from January to November 2024 for the past fiscal year, which showed that revenues from oil stabilized at about 88%, but it still constitutes the main resource for the general budget, indicating that the rentier economy is the basis of the country's general budget.

The financial tables showed that the total revenues for the eleven months of last year amounted to 135 trillion, 322 billion, 716 million, 694 thousand, and 603 dinars, indicating that the total advances amounted to 17 trillion, 352 billion, 387 million, 556 thousand, and 226 dinars. 

According to the financial tables, oil revenues amounted to 119 trillion, 33 billion, 253 million, and 845 thousand dinars, which constitutes 88% of the general budget, while non-oil revenues amounted to 16 trillion, 289 billion, 462 million, and 848 thousand dinars, which constitutes 12% of Iraq’s general budget.  LINK

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

Clare:  Parliamentary Finance Committee reassures employees and retirees: Delay in budget schedules does not affect salaries

2/10/25

The Parliamentary Finance Committee reassured employees and retirees that the delay in the arrival of the 2025 budget schedules does not affect the distribution of salaries.

Committee member Jamal Kojer explained in a press statement that "the date of the budget schedules reaching parliament is still unknown."

He added that "despite this, salaries are secured as amounts and liquidity, and there is no delay in their distribution so far."   LINK

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

Clare:  Trump: US debt may be less than reported due to fraud

2/10/2025   Economy News - 

US President Donald Trump said on Sunday that his administration is reviewing US Treasury debt payments to uncover any potential fraud, suggesting that the total national debt of $36 trillion may be less than the announced figure.

Speaking to reporters aboard Air Force One, Trump said his administration was scrutinizing government spending records to detect unnecessary spending, and had recently begun focusing on debt payments, which are a key part of the global financial system.

Trump added that his administration is reviewing US Treasury bonds, indicating that there may be problems with them. He added: "There may be a problem, you've been reading about it, and it may be interesting."

"It's possible that a lot of these things are not being accounted for, in other words, we may discover that some of these transactions are very fraudulent, which means that the total debt may be less than we thought," Trump continued.

It was not clear whether Trump was referring to debt service payments or any other government payments made by the Treasury Department.

US debt value

The U.S. national debt currently stands at $36.2 trillion, according to the U.S. Treasury Department, or more than 120% of gross domestic product. Because the U.S. government is spending more than it takes in, President Donald Trump and Republicans, who control Congress, will have to approve more borrowing this year to avoid a default, a scenario that could be disastrous for the economy.

Independent budget monitors have warned that Trump's proposed tax cuts could add trillions of dollars to the national debt, further straining the country's finances.

US President Donald Trump has tasked businessman Elon Musk with a sweeping overhaul of the federal government, sparking protests on the streets of Washington amid accusations that the administration is breaking laws.

Musk's Department of Government Efficiency has disrupted the work of several federal agencies and raised privacy and security concerns because of his access to sensitive records related to government salaries and spending.

In a legal development, a federal judge issued a temporary injunction Saturday blocking Musk's team from accessing government systems that process trillions of dollars in payments, citing potential risks of unlawful disclosure of sensitive information.

After the court ruling, Elon Musk called for the “do not pay” list of entities that should not receive government payments to be updated at least weekly, if not daily.

For his part, US Treasury Secretary Scott Bessent, a Trump appointee, confirmed last week that Musk's team has "read-only" access to the payments system, meaning he cannot make any changes.

Meanwhile, while courts have blocked Trump’s attempt to freeze broad domestic aid, project managers across the country say billions of dollars remain stuck, affecting clean energy and transportation projects.   LINK

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Clare:  In light of the liquidity crisis... Why doesn't Iraq resort to printing more currency?

Sami Al-Salehi Journalist   Published in Saturday 8 February 2025

Iraq is facing increasing challenges due to the scarcity of cash liquidity, which negatively affects the markets and daily financial transactions. While some are looking for quick solutions to overcome this crisis, the option of printing more local currency remains controversial, given the serious economic repercussions that may result from it.

The Iraqi government faces challenges in managing cash liquidity in dinars, as it suffers from a chronic shortage of this currency, which affects its ability to meet its financial obligations to pay employee salaries, repay debts, and finance projects.

Since the 1990s, and specifically during the period of the economic blockade, Iraq has witnessed hyperinflation in its national currency (the dinar). This situation prompted the ruling regime at the time to take the decision to print the currency locally.

After 2003, the previously circulating currency was disposed of, new denominations with updated designs were issued, and the exchange rate of the Iraqi dinar was fixed against the US dollar based on a decision by the then civil governor of Iraq, Paul Bremer, who in turn announced the details of the new currency and its official exchange rate.

Iraq currently has a range of paper denominations that cater to various daily transactions, starting from small denominations such as 250, 500 and 1,000 dinars, all the way to larger denominations such as 5,000, 10,000, 25,000 and even 50,000 dinars that are used in major transactions.

Where is the Iraqi currency printed?

On January 19, 2025, the Central Bank of Iraq revealed new security features on circulating banknotes, with the aim of reducing counterfeiting and protecting the national currency.

According to economic observers, the Central Bank has included these signs in the new banknotes to raise awareness among the public, companies and banks alike.

A source in the Central Bank of Iraq spoke about details related to the process of printing Iraqi banknotes, indicating that “the currency was previously printed in Switzerland, but the printing is currently done at the British Institute in London,” which is considered one of the most prominent institutions specialized in printing currencies globally. 

In an interview with Al-Jabal platform, the source explained that “Iraqi banknotes are manufactured according to high-quality specifications, aiming to prevent their rapid damage and ensure their ability to withstand daily use for long periods, through the use of modern materials and technologies that increase their lifespan.”

According to the same source, “the cost of printing one banknote ranges between 4 and 5 US cents, a cost that includes the use of the latest security technologies to prevent counterfeiting, such as watermarks, optically variable inks, and security threads.

In contrast, the Central Bank confirms that currency printing operations are subject to strict standards to ensure their quality and durability. The design of banknotes is also updated from time to time according to technical and security needs, to ensure the currency is protected from counterfeiting and improve its technological properties.

An option on the government's table

In addition, Mazhar Mohammed Saleh, the economic advisor to the Iraqi Prime Minister, says, “Financing the deficit in the general budget through the issuance of cash is a cautious approach, but it remains a possible option in light of the availability of high foreign reserves, capable of covering the money supply of the national currency by no less than 75%.”

Saleh added, during his interview with the “Al-Jabal” platform, that “resorting to this method is temporary and periodic, as 40% to 50% of the issued cash is directed towards internal transactions, not just external transactions, which makes it an available option when needed, provided that the coverage rate remains high according to the mentioned standards.”

Saleh continues his talk by saying: “The monetary policy in Iraq is proceeding according to balanced standards with the fiscal policy, and is consistent with the cycle of oil assets. In the event that oil prices fall to low levels, it is possible to resort to financing the deficit by borrowing from banks and deducting the borrowings from the monetary issuance authority, provided that the coverage equation is maintained until the end of the cycle of falling prices.”

Saleh points out that "the decline in oil prices to below their real value in energy markets is not unusual, and it happens sometimes, which requires dealing with it through balanced monetary and financial mechanisms to ensure the stability of the national economy."

It is noteworthy that the Central Bank of Iraq issued, in 2018, a second edition of banknotes in denominations (25,000, 10,000, 1,000, 500, 250).

The Central Bank also previously added some technical and technological updates to the 2003 issue for all types of local currency, except for the (50) dinar category, which was withdrawn from circulation in 2015, while at the end of 2015 it issued the (50,000) dinar category to complete the current series in circulation.

Pros and cons of printing

In this regard, financial expert Jalil Al-Lami said, during his interview with Al-Jabal platform, that “the issue of printing local currency is one of the most sensitive economic policies, given its direct impact on the financial and economic stability in the country.”

Iraq, according to Lami, sometimes faces cash liquidity crises due to economic and political challenges. Technically, it can resort to printing currency to cover the deficit, but this does not depend only on technical capacity, but is subject to complex economic determinants such as the level of foreign exchange reserves, the monetary policy of the Central Bank of Iraq, and general economic stability.

Al-Lami added that "the Central Bank of Iraq, as the only body authorized to issue the currency, adheres to strict standards to ensure that it does not harm the national economy," warning against "unstudied monetary expansion, which could lead to dire economic consequences."

Regarding the positives of printing currency, Al-Lami reviewed some of the potential positives of printing currency, including providing quick cash liquidity, which helps finance salaries and projects and pay urgent obligations, in addition to supporting the economy in crises such as wars or epidemics, in addition to stimulating local demand by increasing the money supply.

Regarding the negatives of printing currency, Al-Lami believes that it may lead to hyperinflation, as when currency is issued without real economic cover, it leads to an uncontrolled rise in prices, in addition to a loss of confidence in the national currency, in addition to the deterioration of the exchange rate as a result of the increase in the money supply without sufficient economic support, and the gap between wages and prices may widen.

Al-Lami suggested a number of sustainable solutions that could help Iraq confront liquidity crises without resorting to printing currency, including “reforming the tax system by improving tax collection and reducing tax evasion to increase government revenues and diversify sources of income, in addition to internal and external borrowing and reducing unnecessary expenses.”

Other proposals, according to Al-Lami, include “enhancing foreign investment and reforming the financial and banking sector.”

The former governor of the Central Bank, Mustafa Makhif, announced in 2022 that "the bank is working on completing a new denomination worth 20,000 dinars based on a study and comparative research with neighboring countries, and is working on completing the shape of the note and it will be announced in the coming days."

At the time, he also spoke about the “issue of deleting zeros from the local currency,” and stressed that “the process of deleting zeros from the currency requires enacting a law and making some amendments.”

Numbers and statistics

The Iraqi government decided to change the exchange rate of the Iraqi dinar against the US dollar in 2020, as the price was adjusted from 1,182 dinars per dollar to 1,450 dinars per dollar.

This decision sparked widespread popular discontent, especially after the prices of food and all commodities in the markets witnessed a significant increase, and this change was confirmed in the federal budget approved by the Iraqi Council of Representatives on March 31, 2021.

Data from economist Nabil Al-Tamimi indicate that printing any currency clearly contributes to increasing inflation, as the increase in the volume of cash in circulation leads to an increase in prices. Therefore, countries are keen to avoid printing money to cover the deficit in their budgets except in limited and studied proportions, through which they try to achieve a balance between the volume of cash circulation and economic activity, i.e. the gross domestic product, which is known as natural inflation.

Al-Tamimi continued, in his interview with Al-Jabal platform, saying: “In some cases, monetary authorities may resort to withdrawing part of the cash and drying up the markets to control inflation, despite the economic slowdown that may result from that.”

According to Al-Tamimi, “Increasing the volume of printing leads to an increase in demand for hard currency, especially in countries that depend on importing goods and services, such as Iraq. The more local currency in circulation in dinars, the higher consumer spending, and most of this spending goes to imported goods and services that are paid for in foreign currency, which leads to an increase in demand for the dollar.”

In a free market, Tamimi said, “this could lead to fluctuations in the exchange rate, but if the central bank intervenes through a currency auction, the daily sales volume will increase to maintain monetary stability.” Data indicates that the Iraqi central bank’s dollar sales have reached about $300 million a day, compared with about $180 million a day in previous years.

He added, "The Central Bank of Iraq relies on its foreign currency reserves on government revenues from oil sales, which change according to the fluctuations of the oil market, as the reserve ranges between 50 and 100 billion dollars. To ensure monetary stability, the Central Bank's accounts must be based on the minimum reserve, i.e. 50 billion dollars, to cover imports and control local demand for hard currency at approximately this level."

Al-Tamimi concluded his speech by saying, “The period from 2003 to 2019 witnessed a relatively balanced monetary policy regarding printing currency, as the total issued currency during this period amounted to about 55 trillion dinars. However, the monetary policy during 2020 and 2021 led to clear inflation, with the volume of issued currency doubling to more than 100 trillion dinars. This was reflected in a significant increase in prices, as the inflation rate reached about 15%.”

Many years ago, the Director of Issuance at the Central Bank, Ihsan Al-Yasiri, said, “The Central Bank of Iraq prints a thousand 25,000-dinar notes in the most reliable international companies at a cost of less than $60,” noting that “the bank will not spend a large amount of cash to print the new banknotes, because their cost is low.”  LINK

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Clare:  "From Cradle to Ruin"...an exhibition that embodies Iraq's journey in Jerusalem

2/9/2025

In  exceptional event, the Museum of Islamic Art in Jerusalem hosts an exhibition entitled “From Cradle to Ruin,” which tells the story of Iraq through contemporary artworks by Iraqi artists .

The Israeli newspaper, "The Jerusalem Post", reported in a report translated by Shafaq News Agency, that "an American officer contributed to purchasing these artworks to sell them to artists in the United States. After that, an Israeli-American artist of Iraqi origin intervened to purchase the works and facilitate their display in Israel."

He pointed out that "the exhibition is about Iraqi art and that part of the credit for organizing it goes to the efforts of the Israeli-American artist of Iraqi origin, Oded Halhami, who is 86 years old and resides in New York City."

The report explained that "Oded runs his own gallery in New York, specifically in the Soho neighborhood, and devotes much of his effort to his art gallery, including providing a space for Iraqi artists to display their work and introduce the world to another side of Iraq that is not associated with the violence and death that appears in the news."

The report quoted the museum's director general, Gilad Levin, as saying, "Iraqis are very proud of their culture. Iraq is the cradle of human culture and history, and that is why we chose this title," explaining that "this is the place where the oldest cultures in human history began."

Levian added, "Iraq has witnessed ups and downs throughout its history, but he stressed that heritage exists within the people regardless of the ruling regime."

The report referred to Oded's passion and keen interest in this exhibition, as there is a text on the opening wall near the entrance to the exhibition hall, quoting his words in which he says, "It seems that I left Iraq, but Iraq never left me."

The report also quoted Levian as saying, “Oded lives his Iraqi identity, and lives this culture through the books he writes, the art he creates, and the clothes he wears,” indicating that “Oded surprised me… We had never met before, but we had talked on the phone for years, and he makes his own clothes, clothes in the traditional Iraqi style.”

He explained that "the title of the exhibition refers to the hardships and disasters that Iraq has gone through over the centuries, especially in the last fifty years, following the rise of Saddam Hussein's regime to power in the late seventies."

The report pointed out “a wonderful dramatic story related to the exhibition, which is the story of an American soldier who loved art while serving on a military mission in Iraq, where he obtained permission from his commander to follow local artists and transfer some of their works to the United States, then arrange for the sale and delivery of the financial proceeds to the artists who were struggling in difficult circumstances. When Oded heard about this initiative, he included this idea in his charitable works.”

While Levian said that Oded "told them that he would display the works in his gallery, and that he would buy any artworks that were not sold," hence the opening of the exhibition of Iraqi works at the Islamic Museum in Jerusalem .

The report continued, "Oded also owns a collection of artworks that reflect the depth of anxiety in Iraqi society at the present time, in addition to the cultural richness of Iraq that extends back thousands of years."

"Oded, in his octogenarian years, calls two of his exhibits Mercy for Baghdad, and they reflect the Iraqi national tricolour flag, whose design has been modified several times since the 1960s, and refer to a pre-Gulf War version of the flag with three stars, and the version introduced by Saddam Hussein that includes the phrase 'God is Great' instead of stars," he added.

The exhibition includes works that reflect Iraq's long and winding road and attempts to heal the rift and wounds, while Levian says that "when Iraq is damaged, it is on a large scale. But it always recovers."

The report indicated that the exhibition may be surprising to many who know Iraq only through the prevailing media images of it, and perhaps visitors will be able to learn about aspects of Iraqi culture through the memories they heard from elderly people who immigrated from Iraq in the early fifties and their children .

The report continued, "There is a painting representing three men embodying an atmosphere of close friendship and mutual respect in a café on the banks of the Tigris River, where people, especially men, would gather to smoke a hookah, drink coffee or tea, and play backgammon."

He said, “There is a miniature image of that atmosphere in the exhibition through a painting by the artist Fadhel Abbas,” pointing out “an amazing painting that reflects the artwork of the Mexican artist Frida Kahlo, a painting by the artist Naziha Rashid that depicts a woman with dark, strong eyes that reflect a feeling of inner strength.”

The exhibition also includes a collection of miniature oil paintings by artist Amal Alwan that convey a sense of daily life, including a scene of a riverside café .

The idea of ​​destruction in the work “Night of Fire” by artist Mohammed Al-Hamdani shows what the American army did when it bombed Baghdad during the Second Gulf War in 2003 .

The report concluded by saying, "The Iraqi exhibition at the Museum of Islamic Art in Jerusalem represents a wonderful and rare opportunity to understand the spirit of the current era in Iraq."

LINK

“Bits and Pieces” in Dinarland Monday 2-10-2025

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.

Restored Republic via a GCR: Update as of Mon. 10 Feb. 2025

Compiled Mon. 10 Feb. 2025 12:01 am EST by Judy Byington

Judy Note: The privately owned Federal Reserve which has had control of US Taxpayer monies since 1918 and has funneled all those trillions of dollars to the UK Crown, Vatican and private Central Banks across the World before charging us interest to use our own monies (running up the National Debt), has never had a full disclosure of their monetary decisions, nor has the Fed been fully audited – ever. That is, until along came Trump and Musk.

Take careful note of the Congress people who oppose an audit of the privately owned Federal Reserve, or who oppose any of Musk’s DOGE audits of Federal Programs that are funded by US Taxpayer monies.

~~~~~~~~~~~

Sun. 9 Feb. 2025 Official Announcement from Christian B. Wallace, on Telegram

“Ladies and gentlemen, the time has come. For years, many have speculated, doubted, and waited. Today, I stand before you with absolute certainty—NESARA & GESARA are closer than ever.

As a licensed financial professional with over 20 years in financial engineering, I have worked behind the scenes, witnessing the slow but undeniable progress of this global financial shift. The final mechanisms are being put in place, and the long-awaited reset is no longer a distant promise—it is an imminent reality.

The corrupt systems that have enslaved economies for centuries are being dismantled. A new financial structure, backed by real assets, is ready to emerge. Debt relief, wealth redistribution and the release of suppressed technologies are no longer theories—they are part of the blueprint for the future.

I urge you to prepare. What comes next will reshape everything we know about wealth, freedom, and prosperity. The world is about to change. The wait is almost over.” …Christian B. Wallace, Tier 4B

 ~~~~~~~~~~

Sun. 9 Feb. 2025: BREAKING: THE ELITE ARE FALLING! FINANCIAL MELTDOWN IS HERE! …on Telegram

For everyone saying, “Nothing’s happening,” open your eyes! This isn’t a drill. The global financial system is crumbling, and the ones you thought were untouchable—BlackRock, celebrities—they’re ALL falling. This is not a market correction; it’s total destruction.

The elites are in full panic mode. Their mansions? Fire sales. BlackRock filing for bankruptcy? YES, it’s real. Their house of cards is collapsing, and there’s no bailout big enough to save them.

The Bank Implosion: Silicon Valley Bank, Credit Suisse, First Republic—gone. And it’s just the beginning. This isn’t bad luck; this is justice. The elite built their empire on lies, and it’s finally coming apart.

BlackRock Falls: BlackRock, the “Godzilla” of finance, controlled trillions in assets. Now? Bankrupt. Their empire of manipulation is no more. Executive Orders delivered the fatal blow, and they couldn’t survive without their corrupt channels.

The Global Reset Is Here: We’re witnessing the biggest financial shift in history. The elites are losing trillions, their power is evaporating, and the world is waking up. This is more than a collapse—it’s the END of their reign

Read full post here:  https://dinarchronicles.com/2025/02/10/restored-republic-via-a-gcr-update-as-of-february-10-2025/

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

Mnt Goat   Article:  "ECONOMIST: WASHINGTON’S POLICIES TOWARDS IRAQ PREVENTED THE REVIVAL OF ITS FINANCIAL RESOURCES"   Will Trump change this Obama/Biden era foreign policies towards Iraq? This is the only way and I mean ONLY way we will see the RV in short order. ...The fact that Trump is a businessman before being a politician gives him the advantage to see the great potential for American investment in Iraq...

Militia Man  Article: "Minister of Finance receives a delegation from the German corporation for international cooperation."  Interesting...so are they going to be doing this 1310 business forever?  I don't think so.  Quote: "In the presence of sectoral bodies from the Central Bank of Iraq, Federal Integrity commission, Financial Supervision Bureau and the
General Authority for Customs and Taxes at the ministry's headquarters..."  These guys are focused 100% on Iraq getting into the International world.

***********

BREAKING: Gold & Silver Prices Set to SKYROCKET! Is the Central Bank COLLAPSE Imminent?

Wall Street Bullion:  2-9-2025

Are gold & silver prices about to shock the world? Is the central bank collapse imminent? Ron Paul joins us to discuss gold & silver prices that are set to soar! LIKE THE VIDEO IF YOU WANT GOOD LUCK STACKING SILVER & GOLD!!!

https://www.youtube.com/watch?v=3xb7iFt0iS8

SUPERBOWL: Bread & Circus Edition | Mike Maloney

2-9-2025

In this revealing discussion, Max Keiser and Mike Maloney draw parallels between ancient Rome’s “bread and circuses” and today’s culture of constant distraction and instant gratification.

 From cheap sugar and drugs to easy credit and mass entertainment, our society is locked in a cycle of consumption that masks the mounting social and economic strains.

Discover how excessive government taxation and mind-numbing bureaucracy mirror Rome’s final days, and learn why entrepreneurs and small business owners often bear the brunt of this overreach.

Don’t miss this eye-opening look at how the Super Bowl and other spectacles keep us complacent—and what it could mean for the future of our economic freedom.

https://www.youtube.com/watch?v=UIHK8-jgOQs

“Coffee With MarkZ” Monday Morning Chat 2-10-2025

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 to all….Hope everyone had a great weekend

Member: Hoping today is not another “Groundhog Day” and something really happened over the weekend.

Member: Any good RV news Mark? Some are saying today may be our day?

MZ: I am hearing that…..but they may be a couple days premature….but not far off.

MZ: I have contacts that are physically working in some locations. They started over this weekend. A couple of group contacts are steadily working and dusting off old paperwork and going through things because they have not been there in quite sometime

MZ: I am hearing the same things from historic bonds. I also heard from 3 bond contacts that they are expecting things to start today and over the next few days. They are expected to see their bonds funded.

MZ: Some groups expect full release of tier 4a funds this week as well. I am very excited about the chatter but we need it to actually come to fruition.

Member: yes…no more talk….we need to see ACTION.

Member: I had heard that tier 4 A/B are supposed to go at the same time

MZ: The sheer numbers of folks in physical position around the world right now that are updating paperwork  is amazing. I have heard from European and Reno contacts and I told you what their expectations are.

MZ: I have not yet heard anything new n CKMX or farm claims or PP’s….I had been hoping to have an update from them by this morning. .

Member: Secretary of treasury Bessent said the Fed Reserve controls the treasury acct software. I'm thinking the treasury needs to take over before we have treasury accounts

MZ: In Iraq “ Parliamentary Finance: No new appointments in the 2025 budget “ Sudani has pledged that they will not take on any new appointments or projects until they settle Article 12 and finish this thing. They need Erbil and HCL to be finished. This is the absolute “Top Priority” 

Member: Iraq is saying budget tables done within the next few days.

Member: Is that what we are waiting for?

Member: Wish we knew

MZ: “General Secretariat of the Council of ministers: Stopping cash collections in state institutions at the end of June”  they will no longer be taking physical cash. They need to pay by electronic payment or cashiers checks. They are still trying to root out the corruption in government. Cash has been disappearing into pockets…..they are going to stop that.

MZ: “The Minister of planning sets February 24th as the date for announcing the final results of the population census” 

MZ: “The dollar stabilizes in the parallel market. Is this price craze over?” the dinar has gained next to the dollar . The CBI and parliament are very optimistic.

Member: Do you think the Iranian rial still could revalue with everything that is happening.

MZ: Its up in the air. Somedays I think it will and somedays I think it won’t… If it doesn’t it will create a tremendous opportunity for us down the road.

Member: Any new rumors on rates?

MZ:I have not heard anything new since I shared rates last week

Member: Rates are all rumors we will not know the exact rates until we exchange…imo

Member: I wonder who benefits from the rv delay?

Member: Maybe we are waiting for the Treasury and the Federal Reserve to be audited and fixed???

Member: Mark, I went to a chase bank in New Jersey and the manager told me that when we exchange the dinar in the future, all fees are already calculated into the rate

Member: We were always told when we see that new money out in the public we have or are going

Member: Fnu Lnu: This just in from my Singapore contacts: “There is a hold on the RV for an unspecified amount of time. Consulting firm Wyman & CBI” False Flag ?

MZ: I have not heard that from anybody to support that statement. I could not vet it……

Member: Rumor is iqd on Forex yesterday was $1.04

Member: I sure hope we don’t have to pay the IRS this year. Now it makes me even more mad to find out where our tax dollars have been going.

Member: Maybe If DOGE gets to the IRS as fast as they've been working, I don't think we'll have to file. Just my opinion.

Member: Maybe the sovereign fund being also a place for them to put the funds confiscated under E.O.'s and potentially returned to us the people

Member: Lincoln's birthday is on the 12th. Isn't there a Trump-Kennedy connection. could be a good day for reset?

Member: Maybe we have to have to wait for the Easter bunny to make this RV happen?

Member: next weekend is Presidents Day and Mon is the 17th and a 3 day weekend.

Member:  Thank you for all that you do for the community Mark!! You are loved & appreciated!

Member: Time to finish this marathon!

Member: IMO we have an awesome Week ahead of us!!! Keep the Faith!

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=z91IaWlQWys

Seeds of Wisdom RV and Economic Updates Monday Morning 2-10-25

Good Morning Dinar Recaps,

TOP ECONOMIC EVENTS TO WATCH NEXT WEEK: US CPI & PPI REPORT, POWELL’S TESTIMONY MIGHT SET CRYPTO MARKET’S TREND

▪️Crypto markets brace for key economic events, including CPI, PPI data, and Jerome Powell’s testimony, which could impact price trends.

▪️Fed interest rate outlook and U.S. tariff updates may influence investor sentiment, with inflation reports playing a crucial role next week.

Next week is important for the crypto market because a few major events are happening. These include the release of the CPI and PPI data, speeches from important Federal Reserve officials, and testimony from Jerome Powell, which could all influence the direction of the crypto market in the coming week.

Jobs Report and Tariff Concerns Shake Markets Before Inflation Data

After the January jobs report came out on February 7, the dollar and bond yields increased, but stock and crypto prices dropped. These market changes were influenced by more than just the jobs report.

 It concluded a week filled with strong economic data and growing concerns about upcoming U.S. tariffs. The January 2024 jobs report was a key highlight of last week, but other economic data also came in strong and exceeded expectations.

At its latest meeting, the Federal Reserve kept its main interest rate steady at 4.25%-4.50%, stressing that they need to see continuous improvement in inflation before thinking about reducing rates.

Several Fed officials also mentioned that prices pushed up by tariffs might lead to keeping their policies stricter for a longer period than what the markets anticipate.

CPI Report on 12 February

U.S. inflation figures and remarks from Federal Reserve Chair Jerome Powell will play a crucial role in deciding the direction of U.S. interest rates. Additionally, any new updates on tariffs from the Trump administration will be closely watched.

With the first central bank decisions of 2025 behind us, this week might be quieter. However, there’s still significant news for investors, as the crucial CPI report from the United States is coming up.

In December, the main CPI rate slightly increased to 2.9% year-over-year, while the core rate decreased to 3.2%. According to predictions from the Cleveland Fed’s Inflation Nowcasting model, the main CPI rate is expected to have dropped to 2.85% in January, and the core rate to have slightly decreased to 3.13%.

On February 11, key figures from the Federal Reserve, including Hammack, Williams, and Powell, along with the Bank of England’s Mann and Bailey, will deliver speeches.

The next day, February 12, will feature talks from the Fed’s Bostic and Powell, as well as the ECB’s Nagel and the BoE’s Greene, potentially impacting financial markets with their insights on monetary policy.

Attention will also turn to inflation numbers from China, economic statistics from Japan, and data on the U.K.’s gross domestic product.

Jerome Powell’s Testimony to Take Place

Federal Reserve Chair Jerome Powell probably won’t share much new information this week during his twice-a-year report to Congress, but his appearance could still affect the markets.

Powell will testify in the House of Representatives on Wednesday and then in the Senate on Thursday, discussing the Fed’s view on the economy.

Deutsche Bank analysts said,

“He will likely stick to the January FOMC script but the market always seems to get something new out of these appearances, which include a lot of congressional Q&A.”

Economists believe he will echo a common theme from recent Federal Reserve meetings: there is currently no hurry to lower the key fed funds interest rate.

US PPI Report

If the US releases strong producer price index (PPI) or retail sales figures, it could boost the dollar by making investors think that interest rate cuts might be delayed. Although markets have been doing well lately, any unexpectedly high inflation could make investors feel less bullish.

Additionally, if industrial production numbers are strong, it could increase the prices of oil and metals. However, if retail sales are weak, it could reduce demand for commodities driven by consumer spending and could also negatively impact the dollar. As a result, we might see a bullish comeback in the crypto market.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

BRICS CURRENCY PLAN IS OFFICIALLY NO MORE: WILL TRUMP LIFT TARIFFS

The ongoing tensions between the United States and the BRICS alliance have reached a fever pitch. With the world concerned about a burgeoning trade war, both sides seem no closer to any sort of resolution. However, a recent statement confirmed that the BRICS currency plan is officially no ore, but will US President Donald Trump lift his proposed tariffs?

During his campaign for re-election, Trump originally warned tariffs to dissuade the nation from embracing de-dollarization. He targeted the BRICS bloc specifically because they had so blatantly embraced the native currency settlement of their trade. Yet, with them confirming they are no longer a threat to the world’s currency, will Trump relent?

BRICS Currency Plan Confirmed to be Done, but Will Trump No Longer Target Alliance?

Donald Trump once said that the US dollar ceasing to be the world’s global reserve currency would be akin to the nation losing a war. That is what first placed the BRICS alliance in his crosshairs. For years, the nation has sought to implement its very own currency. Although never announced, the rumor had been present for much of 2024.

That caused the current US President to threaten significant tariffs on these nations. Specifically, he targeted those who would not commit to ensuring the status of the greenback. However, BRICS has officially confirmed its currency plan is no more, but will a Trump tariff also be rejected?

Dimitry Peskov, a Russian spokesperson, recently confirmed that “the BRICS are not discussing the creation of a common currency.” Indeed, the statement looked to put to rest the popular rumor. Alternatively, Peskov confirmed that the bloc was simply focused on joint investment and economic cooperation.

The question is, how will Trump respond? He is already planning reciprocal tariffs to match those imposed by other countries. 

Additionally, China has already responded to its 25% tariff with a 10% import tax on the US. With these nations already deeply embedded in an ongoing trade war, it is difficult to imagine Donald Trump would end the policy before it truly was implemented.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

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Thank you Dinar Recaps

7 Money Habits That Can Make or Break You

7 Money Habits That Can Make or Break You

  Yahoo! Finance/Thinkstock

Why do you keep buying things you can’t afford? It makes no sense: it’s not rational. Nobody wants to be in debt.

The answer is simple: debt problems are emotional, not rational. Debt results from unconscious habits and attitudes that cause you to spend more than you can afford.

In other words, everyone knows the first law of finance is to spend less than you make. That is how you stay out of debt. Unfortunately, knowing what to do and actually getting it done are two different issues.

That’s why being on the right side of these seven financial practices is critically important to your financial success. They can close the gap between knowing what to do and actually getting it done – simply by changing your daily habits. It is the easiest way to solve your debt problems and begin building wealth.

The good news is this means you have the power to improve your financial situation no matter where you are at today. You created your habits, and your habits produce your long-term financial results. That means you’re in charge and have the power to make positive changes.

Consider the following seven financial practices that can take you to debt or wealth. The habits you choose will determine your financial success or failure.

1. Emotional Spending

Here is a simple test to determine if you’re an emotional spender:

    Do you use shopping to relieve stress or escape boredom?

    Do you use shopping as a pick-me-up or entertainment?

    Do you celebrate by shopping for a treat?

    Do you ever shop as a form of “retail therapy?”

    Do you use shopping for social connection?

    Do you have clothes in the closet with the tags still attached?

    Do you have more than one of the same item?

    Is your credit card bill so large that you can’t afford to pay it off at the end of the month?

    Do you ever feel an endorphin rush when making a purchase?

    Do you experience anxiety, guilt, or remorse after shopping?

    Do you ever hide purchases from friends or loved ones?

If you answered “yes” to one or more of these questions, then you might have an emotional spending problem.

Emotional shoppers become addicted to the temporary endorphin high that comes from buying. You’re genetically programmed to pursue what makes you feel good, turning spending into a physiological habit like a drug. That’s why excessive spending is about the emotional experience from buying stuff and not the stuff itself.

The purchase brings temporary yet immediate gratification (even if it causes debt).

The wealthy habit is to spend based on needs — not wants — and to plan purchases rather than buy spontaneously. A good habit for breaking emotional spending is to force a two-day cool-off period for all non-planned purchases so your emotions can settle down. If you still want it after two days then it may actually be worth buying.

2. Addiction

Closely related to emotional spending is addiction, but this can be an addiction of any kind — not just shopping. Gambling, drug and sex addictions are highly destructive — both financially and otherwise. The ensuing debt spiral may be the least of your worries but is often a consequence.

TO READ MORE:  https://www.credit.com/blog/7-money-habits-that-can-make-or-break-you-64863/

“Tidbits From TNT” Monday Morning 2-10-2025

TNT:

Tishwash:  Parliamentary Finance: No new appointments in the 2025 budget

The Parliamentary Finance Committee confirmed, on Sunday, February 9, 2025, that there are no appointments in the federal budget for the current year. 

Committee member Mustafa Al-Karawi said in a statement followed by Al-Jabal, "According to the latest amendments, there is no fundamental change in the budget law, and no new appointments have been included, but it is possible for the government to move within the budget schedules to reactivate some of the previous specializations and texts."

He stated that "the amendments sent by the Prime Minister and the Council of Ministers were limited to Article (12) related to the cost of extracting oil in the Kurdistan Region," indicating that "the amended article is supposed to enter into force soon, which will allow the start of exporting oil from the region's wells through the SOMO company."

The Ministerial Council for the Economy recommended a few days ago to stop listing new investment projects except for necessary ones.

The Council sent its recommendation to the Council of Ministers regarding new investment projects to stop listing these projects except for the necessary ones, with the approval of the Council of Ministers and the endorsement of the Ministry of Planning and Finance to provide financial allocation before entering into any financial obligations  link

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Tishwash: The dollar stabilizes in the parallel market.. Is the price madness over?

The US dollar exchange rate is witnessing remarkable stability in the parallel market in Iraq at the present time, after a period of fluctuations and rising prices.

This stability is mainly attributed to the decrease in demand for the dollar for import purposes.
Economic expert Salah Nouri told {Euphrates News} that: “The stability of the dollar exchange rate in the parallel market is due to the decrease in demand for imports by traders who import goods from neighboring countries, as a result of anticipation of the outcome of the US decisions regarding sanctions.”

Nouri stressed that “the decrease in the dollar exchange rate has a positive impact on citizens’ purchasing power, but to varying degrees depending on the type of goods, such as basic food items other than medicines.”

Is the price madness over?

This stability indicates the possibility of an end to the “price madness” that the dollar market witnessed in the previous period; however, the economic expert believes that this stability is dependent on the decisions of the United States of America regarding sanctions, which means that the market may witness other fluctuations in the future.

Its impact on citizens

The decline in the dollar exchange rate has a positive impact on citizens’ purchasing power, as they can buy more goods and services with the same amount of Iraqi dinars. However, this impact varies depending on the type of goods, as citizens benefit more from the decline in the prices of basic food items other than medicines.  link

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Tishwash:  Saeed Tavakli: Iraq signs new gas export contract with Iran

 The CEO of the National Iranian Gas Company, Saeed Tavakoli, confirmed today, Saturday, "The export of gas to Iraq is currently ongoing, and we have recently signed a long-term contract with Iraq."

Tavakoli told the Iranian Mehr News Agency regarding US President Donald Trump's decision last Wednesday to cancel the exemption granted to Iraq to import electricity and gas from Iran as part of new sanctions against Tehran, "The decision represents an escalation of US pressure on Iran, as it pressures Iraq to reduce its dependence on Iranian energy."

Saeed Tavakoli stressed, "The export of gas to Iraq is currently underway, and since we have recently extended a good contract for exporting gas, it is likely that the cancellation of the exemption granted to Iraq to import electricity and gas from Iran was for another form of gas import."

The Iranian official continued, "Fortunately, the Iranian-Iraqi contract is in place, but the volume of exports increases and decreases according to the contractual terms."

Regarding gas imports and swaps, Tavakoli also said, "We do not import gas, but gas imports and swaps, such as electricity, are carried out from Armenia."

The CEO of the National Gas Company also stated regarding the drop in temperatures and the state of gas supply: "Currently, the network conditions are stable, and in the current situation, 72 percent of the gas produced is consumed in the domestic sector, and thanks to the cooperation of citizens, the gas supply network will remain stable in the coming days."

Iranian officials said last year that Iraq owed Iran $11 billion in debt due to the gas it purchased, and the payment of this debt was postponed by Iraq to the extent that Iran was forced, in response, to reduce gas exports due to the heavy debt.  link

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Mot: You Can Spoil Her With Something Expensive This Year

Mot ... AAaaaaaaaaahhhhhhhhhhh!!!! 

News, Rumors and Opinions Monday AM 2-10-2025

KTFA:

Clare:  Iraq advances one place in global gold reserves

2/9/2025  Baghdad

The World Gold Council announced today, Sunday, that Iraq has advanced one place in the ranking of countries that hold the most gold in the world.

According to the latest table published by the Council in February, which was reviewed by Al-Eqtisad News, Iraq ranked 28th out of 100 countries included in the table, after it was ranked 31st globally, to become fourth in the Arab world after Saudi Arabia, Lebanon and Algeria.

According to the table, Iraq increased its gold holdings to 162.7 tons, representing 12.7% of its total other reserves.

The Council pointed out that "the United States of America tops the list of the largest gold holders in the world, as it owns 8,133 thousand tons, followed by Germany with 3,351 thousand tons, then Italy with 2,452 thousand tons, while Trinidad and Tobago came at the bottom of the list with 1.9 thousand tons."

The World Gold Council, headquartered in the United Kingdom, has extensive experience and in-depth knowledge of the factors influencing market changes, and its members include the world's largest and most advanced gold mining companies.  LINK

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Clare:  Members of Congress demand that the US government stop military aid to Iraq

2/9/2025   Baghdad /

The National Network revealed in a report published today, Saturday, the existence of what it described as a "campaign" launched by a number of US Congress members to urge the White House to "reconsider" its current relations with the Iraqi government, most notably security and economic cooperation.

The network said, according to what was published by some media outlets, that members of Congress led by Representative Joe Wilson are now launching a pressure campaign on the US government with several demands, the first of which is to stop the military and security assistance provided by US forces to Iraq, and intelligence cooperation, and the last of which is "imposing sanctions" on the Iraqi economy.

The campaign launched by the members of the Republican Party also demanded that armed factions and some Iraqi parties be placed on the "terrorist list" and that their political and military work inside Iraq be prevented by imposing pressure on the government of Prime Minister Mohammed Shia al-Sudani.

Yesterday, American media published a letter signed by some representatives, sent by US Representative Joe Wilson to Secretary of State Mark Rubio, in which he asked him to impose sanctions on Iraq and stop the work of some armed factions in the country.  LINK

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

Frank26   [Iraq boots-on-the-ground report]  FIREFLY:  TIR is the new cross border payments system.  Sammy says we are launching this new system by using this transfer for International and then he says...this can't be at 1310 because it's going it's going international, saying it will be historic first international cross-border payments using this.  We are really close.  There's no way we can make the payment at 1310.  FRANK:  Yes it's a joke when you think about it all being done at 1310.  I agree.  We are as close as your breath is to your lungs...

Mnt Goat  Article:  “NATO INVITES IRAQ TO PARTICIPATE IN BRUSSELS GATHERING, PRAISES GOVERNMENT EFFORTS”.   NATO Secretary General Mark Rutte extended an official invitation to Prime Minister Mohammed Shia al-Sudani to participate in the NATO gathering that will be held soon in Brussels, and to deliver a speech on behalf of Iraq during the meeting.  What will Al-Sudani say?

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Scott Bessent: "We're Going To Monetize The Asset Side Of The US Balance Sheet"

Arcadia Economics:  2-9-2025

Some shocking comments coming out of the Trump administration, especially if you're a gold and silver investor.

And just wait until you hear what Treasury Secretary Scott Bessent just said about the administration's plans to 'monetize the asset side of the US balance sheet.'

You're going to want to see this one!

Could this be the “Gold Standard”

https://www.youtube.com/watch?v=3zBT3rDZKZk

MilitiaMan & Crew-Dinar-IRAQ-News-Constitutional Entitlements-Digital Economy Infrastructure-AI-Monetary Mass

MilitiaMan & Crew-Dinar-IRAQ-News-Constitutional Entitlements-Digital Economy Infrastructure-AI-Monetary Mass

2-9-2025

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=Hbm6wecbVIM

Iraq Economic News and Points to Ponder Sunday Afternoon 2-9-25

The Central Bank Determines The Mechanism For Buying And Selling Real Estate Through Banks

Sunday 09 February 2025 17:31 | Economic Number of readings: 48   Baghdad / NINA / The Central Bank of Iraq announced the determination of a new regulation on the mechanism for buying and selling real estate through officially licensed government and private banks.    https://ninanews.com/Website/News/Details?key=1184647

The Prime Minister Affirms The Aspiration To Strengthen The Bonds Of Constructive Cooperation Between Iraq And Kuwait

Sunday 09 February 2025 | Politics Number of readings: 240  Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani stressed the aspiration to strengthen the bonds of constructive cooperation between Iraq and Kuwait.

A statement by his media office stated that Prime Minister Mohammed Shia Al-Sudani received today, Sunday, the Ambassador of the State of Kuwait to Iraq, Mr. Hassan Muhammad Al-Zaman.

According to the statement, Al-Sudani congratulated the Kuwaiti ambassador on assuming his new duties in Iraq, wishing him success in his work, pointing to the depth of relations between the two countries, and the importance of consolidating and expanding them at various levels and levels.

Al-Sudani stressed, during the meeting, the aspiration to strengthen the bonds of constructive bilateral cooperation in several fields, pointing to the available opportunities, and the availability of an appropriate investment environment for the work of Arab and foreign companies, including Kuwaiti companies. He

also stressed that the door is open for the sisterly State of Kuwait to enter into development path projects, and to benefit from the announced investment opportunities, which contributes to enhancing economic integration and interconnected interests between the two countries. /End https://ninanews.com/Website/News/Details?key=1184617

Dollar Slightly Declines In Baghdad

Stock Exchange   Economy News – Baghdad   The exchange rate of the US dollar against the Iraqi dinar fell slightly in Baghdad markets today, Sunday.

The dollar prices witnessed a decrease in the Al-Kifah and Al-Harithiya stock exchanges, recording 150,350 dinars for every 100 dollars, while it recorded 150,400 dinars for every 100 dollars yesterday morning, Saturday.

Selling prices in exchange shops in local markets in Baghdad recorded stability, as the selling price reached 151,500 Iraqi dinars for 100 dollars, while the purchase price reached 149,500 dinars for 100 dollars.   https://economy-news.net/content.php?id=52626

Gold Prices Stabilize At Historic Level In Baghdad

Stock Exchange   Economy News – Baghdad   The prices of "foreign and Iraqi" gold stabilized in the local markets in the capital, Baghdad, today, Sunday (February 9, 2025) at unprecedented levels in the country, amid the rise in the prices of the precious metal globally as a safe haven.

Gold prices in the wholesale markets on Al-Nahr Street in the capital, Baghdad, this morning recorded a selling price for one mithqal of 21 karat Gulf, Turkish and European gold of 605 thousand dinars, and a purchase price of 601 thousand dinars.

The selling price of one mithqal of 21-karat Iraqi gold was recorded at 575 thousand dinars, and the purchase price was 571 thousand.

As for gold prices in goldsmiths’ shops, the selling price of a mithqal of 21-karat Gulf gold ranges between 605,000 and 615,000 dinars, while the selling price of a mithqal of Iraqi gold ranges between 575,000 and 585,000 dinars.    https://economy-news.net/content.php?id=52628

Industry Holds Conference On "Accelerating Procedures And Investment Security"

Saturday 08 February 2025 12:38 | Economic Number of readings: 196   Baghdad / NINA / The Ministry of Industry and Minerals, in the presence of Minister Khaled Batal and a large group of industrialists and businessmen, held a conference entitled (Accelerating Procedures and Investment Security).

The conference aims to introduce the ministry's steps towards automation and digital transformation of the services provided by the General Directorate of Industrial Development and the Directorate of Trademark Registration, to support industrialists, traders and factory owners and encourage the establishment of new factory projects / https://ninanews.com/Website/News/Details?key=1184420

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

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 2-9-25

Good Afternoon Dinar Recaps,

THE LESSONS LEARNED AT "OPERATION CHOKEPOINT 2.0" CONGRESSIONAL HEARINGS

The new majority party cast the former administration’s bank regulators as bullies operating in the shadows, yet surprising agreements were found.

The deep political divisions in the United States were apparent once again during the recent Congressional hearings on Operation Chokepoint 2.0, the alleged top-down initiative by former US President Joe Biden’s administration to “de-bank” crypto firms.

For much of Thursday afternoon (Feb. 6), it seemed that members of the Republican and Democratic parties were inhabiting different universes. 

Had Biden administration regulators really pressured US financial institutions to deny bank accounts to cryptocurrency firms in 2023, as Republicans asserted? Or was this whole construct of Chokepoint 2.0 “a fake program,” one never initiated by the Biden administration, as Democratic Representative Al Green stated?

Interestingly, at the end of the two-hour hearing, titled “Operation Choke Point 2.0: The Biden administration’s Efforts to Put Crypto in the Crosshairs,” the two political parties actually seemed to be in agreement on steps to be taken to prevent future regulatory ‘overreach’ — even while arguing about past practices.

For the most part, though, the Republicans cast the former Biden administration’s bank regulators as bullies operating in the shadows.

Bitter back-and-forth at Operation Chokepoint hearing

Paul Grewal, chief legal officer at Coinbase, testified that the US Federal Deposit Insurance Corporation (FDIC) “bludgeoned the banks” with an onslaught of examinations and questions “until the banks relented under the pressure.” Regulators forced banks to deny stablecoin issuers bank accounts for their reserves, for instance.

There was some drama, too, when Republican Rep. Ann Wagner questioned Fred Thiel, CEO of MARA Holdings, a leading Bitcoin mining firm, about events in 2023 when several large US banks failed:

“Mr. Thiel, has your bank ever stated whether their prudential regulators told them that they should refrain from providing services to digital asset firms?”

“We banked with Signature Bank and when the FDIC shut them down [in March 2023] and Flagstar took over the accounts, none of the crypto accounts were allowed to be part of those assets acquired,” answered Thiel, continuing:

“We were forced to immediately seek accounts with other banks. We were able to open an account with another bank, deposited $70 million after going through the approval processes, and six days later, we were told we have to shut down the accounts because our bank no longer will bank crypto companies.”

Wagner: “So the answer is yes.”

Elsewhere, Meuser asserted that the former administration’s regulators “resorted to vague interpretive regulatory letters, threatening banks with negative examination scores and fines if they continue their partnership with digital asset companies.”

Not surprisingly, the minority party resisted these characterizations. Ranking minority party member Green asked if anyone “had read a document from someone in the Biden administration or some regulator saying that there was a Chokepoint 2.0 operation.”

No one raised their hand.

“So this is a made-up statement. Somebody concluded that this was something that sells.”

Democratic Representative Nikema Williams said the matter under discussion, Choke Point 2.0, isn’t a serious issue — unlike, say, the continuing racial wealth gap or “Elon Musk dismantling our federal government.” 

Williams questioned why the subcommittee was even meeting to discuss the crypto policy of former president Biden when “he isn’t in power anymore.”

Meuser asked another witness, Austin Campbell, adjunct professor at NYU’s Stern School of Business, for some details on just how “Operation Chokepoint operated in the past” (e.g., Chokepoint 1.0, invented by the Obama administration, supposedly), given he was a former bank risk manager. How exactly did regulators pressure banks into severing ties with legally operating businesses?

Campbell answered that when communicating with regulators, “you are getting fundamentally several layers of guidance,” both written and verbal.

On the verbal level, regulators might say: “Well, we have reputational concerns about you banking crypto clients…. We’re still not sure. Maybe we’ll answer you on that. Maybe we won’t, but we still find it risky.”

“You understand that to mean no,” explained Campbell.

“Rhetorical red meat” or genuine overreach?

Cointelegraph queried several outside sources in the wake of the hearings, including Dru Stevenson, professor of law at South Texas College of Law Houston. Was debanking the crypto industry a serious problem in the US, or is it just something dreamed up by the crypto industry?

“The invocation of ‘Chokepoint’ is pure political theater, rhetorical red meat for the GOP base,” Stevenson answered.

The reality is that all rules and regulations, even the most wholesome and helpful, involve some tradeoffs, such as compliance checks and a little bit of overdeterrence at the margins, which may have happened in the last administration, he said.

Stephen Gannon, a partner at law firm Davis Wright Tremaine, disagreed. The “evidence is now overwhelming” that regulators overreached in the previous administration.

He cited numerous factors, including Senate Banking Committee testimony this past week from Nathan McCauley regarding a Federal Reserve Bank (FRB) internal document brought forward at the hearing by Sen. Lummis. Also, the FDIC “pause” documents recently released and statements from Acting FDIC Chair Travis Hill acknowledging such pressures existed.

In addition, there was the aforesaid testimony before the House Financial Services subcommittee, “particularly that of Fred Thiel,” as well as “my own personal experience with crypto clients who have been de-banked,” continued Gannon. Add to that “information compiled by Marc Andreessen and Nic Carter.”

Steven Kelly, associate director of research at the Yale Program on Financial Stability at the Yale School of Management, highlighted problems associated with reputational risk, a particular concern expressed during the subcommittee hearing. Kelly told Cointelegraph:

“Supervisors’ ability to press banks on their ‘reputation risk’ is a black box authority that can give way to something like an Operation Chokepoint.”

Still, Kelly was doubtful there was any premeditated, secret plan to de-bank the crypto industry. The fact that “the accusation has only been focused on the crypto industry thus far is telling and less suggestive of a chokepoint operation.

There are clearly real prudential concerns with crypto, which were borne out in the collapses of the 2022 crypto winter and the subsequent runs on Silvergate Bank and Signature Bank.”

Both parties find points of agreement

One surprise regarding the hearings: there were actually some points of agreement among the majority and minority members and their witnesses. Campbell, the former bank risk manager, whose testimony was generally well received by the majority party, highlighted some reforms the subcommittee might consider moving forward, and these seemed to meet broad approval:

“A simple one is that all banking guidance should be written. Do not allow verbal guidance. Do not allow hearsay and subjective statements. Write it down.”

“Secondly, that guidance should be made public on some trailing basis. Once you have a paper trail of what the regulators are doing, we will be having many less of these hearings.”

“When banks refuse people services, they should have to tell them why. And those statements should be written complete and transparent.”

“They should abolish management and reputational risk as components of the rating of banks. Those are subjective, rife for abuse, and can be used for really any ends that a banking regulator would like to wedge into an otherwise relatively objective framework.”

It wouldn’t hurt either if bank agency decisions were subject to outside oversight. Added Campbell:

“I’m a professor. I wouldn’t let any of my students grade their own homework. You should not be letting the banking regulators grade their own work here either.”  

Shayna Oleszek, director of banking policy at Better Markets, and a witness called by the minority party, agreed with many of Campbell’s recommendations.

Green, too, seemed to be seeking consensus in his closing remarks.

“Wouldn’t everyone agree that we need better crypto guardrails? If you agree, raise your hands.” All the witnesses raised their hands.

@ Newshounds News™

Source:  CoinTelegraph

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BRICS: IRAN CALLS FOR A ‘UNIFIED CURRENCY’ TO CHALLENGE THE US DOLLAR

The new BRICS member Iran is calling for a ‘unified currency’ to challenge the US dollar’s global reserve currency status.

The Islamic Republic is pulling several options to dim the prospects of the US dollar’s hegemony. Iran is reeling under sanctions from the US and is desperate to find a viable option to lift its economy. The desperation comes after several countries ended conducting business with Iran that stalled its economy leading to a lackluster GDP.

After China and Russia, Iran is now spearheading the de-dollarization agenda as a way to take on the US dollar.  The move could make the US dollar lose out in the supply and demand mechanism in the currency markets. It could lead to hyperinflation if the US fails to make other countries use the dollar for trade.

BRICS: Iran Wants a ‘Unified Currency’ To Pull the US Dollar Down

BRICS member Iran revealed that they are open to the formation of a new ‘unified currency’ as an alternative payment option to the US dollar. The Islamic Republic revealed that if BRICS come to a consensus about the formation, they will wholeheartedly support the initiative.

“If BRICS member countries come to a consensus to use a single and unified currency, we are all for it. We will proceed from national interests,” said the Iranian government’s spokesperson Fatemeh Mohajerani.

However, BRICS might not launch a ‘unified currency’ as Trump would impose 100% tariffs if they ditch the US dollar.

In addition, not every BRICS member has cordial relations with Iran except for China and Russia. This puts the ‘unified currency’ initiative under question as it does not fit their national agendas. The idea could most likely be stalled in the upcoming summit as other countries might not come to a consensus.

@ Newshounds News™

Source:  Watcher Guru

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