Iraq Economic News and Points to Ponder Sunday Afternoon 3-9-25

In Numbers.. Iraq's Expenditures Amount To One Trillion Dollars In A Decade, And 92% Of Its Revenues Depend On Oil

Time: 2025/03/09 12:27:23 Read: 1,230 times  {Economic: Al-Furt News} Economic expert, Manar Al-Obaidi, revealed details of the financial situation in Iraq during the past decade.

Al-Obaidi said in a statement received by {Euphrates News}, a copy of which, "Total revenues amounted to 1,028 trillion dinars, of which oil exports accounted for 92%, while tax and customs revenues and other sources accounted for only 8%."

Al-Obaidi explained in an economic analysis that "total government spending during the same period amounted to 1,007 trillion dinars, in addition to unliquidated loans ranging between 100-150 trillion dinars, so that total spending exceeded 1,100 trillion dinars (about one trillion US dollars)."

He pointed out that Iraq's annual spending rate is estimated at $100 billion, exceeding its counterpart in countries such as the UAE ($65 billion), Malaysia ($82 billion), and Singapore ($77 billion).

Al-Obaidi pointed out the paradox in economic performance, as countries such as Singapore and Malaysia rely on diversified economies that have achieved a GDP of nearly $500 billion annually, while the Iraqi economy remains hostage to the oil sector, with continuing challenges represented by disguised unemployment, financial waste, and inefficient spending.

He stressed that "Iraq's problem is not a scarcity of resources, but rather their mismanagement," calling for urgent reforms focused on diversifying the economy, improving spending efficiency, and combating corruption. He also highlighted the need to implement the famous development program saying: "A stable government improves development management," warning that "losing any word in this phrase will bring down the entire sentence."

Iraq faces deep structural challenges, with a rentier economy unable to absorb its growing population, while its vast resources are being spent without achieving sustainable development, according to the analysis.  LINK

Iraq's Oil Exports To America Fell Sharply Last Week
Sunday 09 March 2025 11:02 | Economic Number of readings: 228  Baghdad / NINA / The US Energy Information Administration announced today, Sunday, that Iraq's oil exports decreased significantly during the past week.

The administration said in a table, "The average US imports of crude oil during the past week from 8 major countries amounted to 5.577 million barrels per day, up by 42 thousand barrels per day from the previous week, which amounted to 5.535 million barrels per day."

It added that "Iraq's oil exports to America decreased significantly, reaching an average of 46 thousand barrels per day, down by 182 thousand barrels per day from the previous week, which averaged 228 thousand barrels per day.

" The administration indicated that "most of America's oil revenues during the past week came from Canada, followed by Brazil, Mexico, Colombia, Saudi Arabia, Venezuela and Ecuador." / End
https://ninanews.com/Website/News/Details?key=1190828

US Ambassador To Iraq: Importing Natural Gas Outside The Sanctions System

energy  Economy News – Baghdad   The head of the Parliamentary Finance Committee, Atwan Al-Atwani, confirmed today, Sunday, that the Iraqi government is serious about achieving independence in the field of energy, while the Chargé d'Affairs of the US Embassy in Iraq, Daniel Rubinstein, indicated that the import of natural gas is outside the sanctions system.

A statement by the Finance Committee, received by "Al-Eqtisad News", stated that "the Chairman of the Finance Committee, Atwan Al-Atwani, received today, Sunday, the Chargé d'Affairs of the US Embassy in Iraq, Daniel Rubinstein, and the accompanying delegation," indicating that "the meeting discussed ways to enhance joint cooperation between Iraq and the United States of America in terms of managing and developing the work of the financial and banking sector."

He added, "The meeting focused on discussing the US sanctions file and their impact on the electricity sector, especially in light of talk about the end of the deadline for Iraq's exemption from importing Iranian gas."

Al-Atwani stressed, according to the statement, "the importance of this visit at this sensitive time, and stressed the need for continuous communication to correct the course of Iraqi-American relations," charging "the Chargé d'Affairs with an important message to his country's government, which is that stopping the import of gas will have disastrous consequences for the Iraqi people, especially in the summer, as it will cause the collapse of the national electricity system, due to the lack of any alternatives at the present time."

He pointed out that "the Iraqi government is serious about achieving energy independence through many promising projects related to investing in associated gas, for the purpose of using it in generating electricity and achieving self-sufficiency, but these projects will enter service in the coming years."

He called on "the US administration to review the policy of pressure exerted by the US Treasury on the financial and banking sector in Iraq by imposing continuous sanctions on local banks."

He stated that "Iraq has achieved a qualitative shift in the policy of compliance and financial transfers, and despite that, we are surprised by collective sanctions targeting Iraqi banks without prior warning and without any declared justification or even notifying the Central Bank of Iraq about it, and this has created a major problem for us, and has affected the work and activity of the banking sector."

For his part, Rubinstein expressed his "understanding of what Al-Atwani had raised during the meeting regarding the energy and banking sanctions files, and promised to convey these messages to his country's government in the hope of finding permanent treatments and solutions that would achieve the interests of the two friendly peoples," noting that "the import of natural gas is,so far,outside the sanctions system." https://economy-news.net/content.php?id=53231

Prime Minister's Advisor: Investment Boosts Economic Growth, Keeps Iraq Away From Oil Price Fluctuations
09/03/2025  Mawazine News – Economy  The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Salih, confirmed today, Sunday, that foreign investment is an important step towards enhancing economic growth in Iraq, and isolating the country from the fluctuations of oil asset cycles and the problems of oil price fluctuations, explaining that linking the international economy to the Iraqi economy contributes to achieving sustainable economic growth, based on the indicators of the National Development Plan 2024-2028.

Salih said, in a statement to the official agency: "The influx of foreign investment to Iraq means the development of linking international economic activity to the country's productive economy, which enhances the environment that encourages investment thanks to what Iraq possesses in terms of material and human resources."

He added that this link contributes to enhancing economic growth in accordance with the development plan, which aims to diversify the national economy, stressing that foreign direct investment contributes to introducing advanced technology and improving organizational and administrative thinking, which leads to reducing unemployment, increasing job opportunities and improving the level of income in the country.

Salih pointed out that foreign investment plays a major role in developing infrastructure in many vital sectors such as electricity, energy, transportation, communications and information technology, and it also contributes to protecting the national economy from economic fluctuations that affect the oil sector.

Saleh concluded his statements by stressing that the benefits of foreign investment are clearly embodied when this investment is integrated into the local labor market, which maximizes the economic benefit and increases the employment of the local workforce, thus contributing to strengthening the movement of the national economy.

https://www.mawazin.net/Details.aspx?jimare=260064

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

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 3-09-25

Good Afternoon Dinar Recaps,

THE GROWING AI ROLE IN CRYPTO – REWIRING THE LANDSCAPE

The world is facing a new technological race, with AI development growing into a national priority. The recent launch of the Stargate project in the US is a high proof of that.

While Trump’s presidency is still in its early stages, we can already see the emergence of a trend towards tech-centricity, as he plans to pour $500 billion worth of investments into AI infrastructure.

At the same time, this technological boom is set to reshape another industry – crypto.

AI (artificial intelligence) has already been introduced into crypto in the form of AI agents, trading bots, automated risk analysis and more.

The question isn’t whether AI will change crypto – it’s doing it even now.

The real question is – what does this mean for crypto and blockchain in the long run?

Will AI’s involvement strengthen this space or undermine the decentralized principles the crypto community holds dear?

Here is my take on this.

AI and crypto today – The shift has begun

The way things are now, I’d say that AI’s presence in crypto hasn’t progressed far – it’s still in the ‘infancy’ stage, so to speak.

But this state of things won’t last – progress is happening at a rapid pace.

This industry is moving beyond simple trading bots. Artificial intelligence is now being used to drive market-making strategies and risk assessment.

We are even seeing cases of decentralized venture funding powered by AI.

Projects like Moby AI, Griffain AI and HeyAnonAI are becoming more prolific – and while these are just early iterations of AI-based financial intelligence in crypto, they are already outperforming human traders in speed and efficiency.

As AI models continue to grow in complexity and gain greater autonomy, I believe that soon they will no longer just follow market trends – they will shape them.

What’s next on the horizon

The next few years will redefine what it means to participate in crypto, and AI is going to be at the center of this transformation, bringing changes in all sectors.

Autonomous AI trading agents are already optimizing market strategies in real-time with a level of speed and precision that far exceeds human capabilities.

The more these bots advance, the greater competitive edge investors and traders will get from using them.

In the field of DeFi compliance, AI-powered tools will become essential for maintaining security.

Fraud and illicit transactions are always a point of concern, but AI-driven monitoring systems can analyze activities in blockchain networks and detect suspicious patterns in real time.

This will allow them to flag potential risks before they escalate, making this space safer.

At the same time, AI-integrated DeFi services will help streamline lending and borrowing by removing human intermediaries.

AI models can be leveraged to automatically match borrowers and lenders and adjust interest rates dynamically as market conditions change.

And all of that can be done without the need for human participation.

I can also see on-chain AI agents playing a prominent part in governance.

They can provide real-time market insights, manage portfolios and even contribute to DAO decision-making by enabling more data-driven governance choices.

Beyond financial applications, AI could also solve long-standing blockchain inefficiencies.

For example, one major issue with PoW (proof-of-work) networks is high energy use.

AI can address this by analyzing and predicting network demand, dynamically adjusting energy consumption to reduce waste and optimize performance.

Moreover, AI can facilitate ‘sharding,’ where blockchain data is divided across multiple nodes, allowing parallel processing and faster transaction times.

This can help effectively scale blockchain networks, which is a critical step if cryptocurrencies are to see broader adoption.

While AI today is still only a support tool, incapable of truly making effective decisions in place of humans, it will not always be so.

To my mind, AI has all the chances of evolving into a dominant force that will actively shape the future of DeFi.

The risks – Can AI undermine decentralization

While AI promises a great upturn in efficiency, it is admittedly not without risks. And one of the biggest threats that I can foresee now is AI-driven market manipulation.

Imagine a scenario where AI-powered trading firms control DeFi, making it that much harder for retail investors to compete.

This is already something that we’re seeing in TradFi (traditional finance), as high-frequency trading firms use AI to exploit market inefficiencies.

The same could happen in DeFi, resulting in an arms race between AI bots, while human traders remain outmatched and essentially get left behind.

That said, DeFi has a bit of an advantage in this regard. Its high spreads and transaction fees act as a natural barrier against immediate AI domination.

Since trading bots in DeFi must deal with significant costs, it creates a chicken-and-egg situation.

As long as fees and spreads remain high, AI-driven trading won’t scale easily. And on the other hand, without a large trading volume, those costs will stay high.

This may actually prevent AI-driven market manipulation, since everyone in DeFi has to operate on equal terms.

Beyond that, there’s also the issue of AI-generated smart contracts to consider. AI can write entire contracts, but what happens if those contracts contain hidden vulnerabilities?

Hackers could exploit AI-generated code, using adversarial inputs to bypass security audits.

A single compromised AI-generated contract could mean millions of dollars’ worth of losses in crypto assets.

This is a threat that DeFi developers will have to take very seriously – you absolutely should not rely on AI to write the code for you.

The future of AI and crypto

The AI race is not just a competition for dominance between nations – the real battle is between open-source and closed-source AI.

The introduction of DeepSeek R1 has already become the basis for a major shift in this regard.

It broke traditional assumptions about AI development, proving that billion-dollar budgets of BigTech companies aren’t always necessary for groundbreaking innovation to take place.

AI development is no longer centralized, and I think that open-source models could align well with crypto’s values, as opposed to a more centralized approach.

The idea that AI will take over the crypto sector is no longer a matter for debate. The only question now is how fast it will happen.

@ Newshounds News™

Source:  DailyHodl

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COINBASE HIRING SPREE: 1,000 JOBS INCOMING AS CRYPTO REGULATIONS IMPROVE

Coinbase is preparing to grow. In 2025, the company intends to add 1,000 new workers in the US, according to CEO Brian Armstrong. This decision comes as the nation’s cryptocurrency laws become more defined, allowing businesses like Coinbase to function with greater assurance.

A Change In Regulations Instills Confidence

Armstrong claims that the additional hires are a direct result of US President Donald Trump’s administration’s improved crypto laws. The CEO attributed Coinbase’s expansion into the US to the government’s efforts to provide a more transparent environment for the sector.

Compared to prior years, this is a significant shift. Tough market conditions forced the exchange to lay off 1,100 workers in 2022, or around 18% of its global workforce. Now that the legal landscape is more solid, Coinbase is adopting a new strategy by investing in new manpower.

SEC Steps Back From Enforcement

Another major development is the US Securities and Exchange Commission (SEC) dropping its enforcement action against Coinbase. This means that instead of the SEC making regulatory decisions, Congress will now take charge of setting crypto laws.

For Coinbase, this change eliminates a major barrier. The company can now concentrate on business expansion rather than legal disputes as the SEC is no longer putting any legal pressure on it. Armstrong’s announcement of onboarding new staff reflects this renewed optimism.

White House Crypto Conference Affects Choices

The disclosure came after Friday’s Crypto Summit at the White House. Government representatives and business executives gathered at the summit to talk about how to regulate digital assets in a way that benefits investors and companies alike. According to Armstrong, the conversations influenced Coinbase’s employment decisions.

Crypto supporters have long pushed for clearer rules in the US. Many believe that regulation will help the industry grow while ensuring companies operate within legal boundaries. Armstrong’s remarks indicate that the government is finally moving in the right direction.

A Positive Turn For Coinbase?

According to the employment timeline, Coinbase is in a better situation than it was a few years back. The company has been through layoffs, legal battles, and market downturns. Now, though, with regulatory clarity and less SEC intervention, the company now has its sights set on expansion.

All eyes will be on the crypto exchange behemoth as it prepares to accept a new batch of workforce.


@ Newshounds News™

Source:  Bitcoinist

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BRICS MAY BE IN TROUBLE AS EXPERTS PROJECT ‘TARIFF-DRIVEN’ US DOLLAR SURGE

Although we are just two months into the year, geopolitical tension has reached a fever pitch. With the United States adopting an aggressive economic policy, a host of nations are concerned over a brewing trade war. However, it could work out in their favor, as BRICS may be in trouble with experts projecting a potential tariff-driven US dollar surge.

Under the direction of US President Donald Trump, the nation is enacting a host of tariffs through new policy. Indeed, it is not only BRICS, as Mexico and Canada have suffered from the new administration’s effort to balance trade. In turn, it could have a positive effect on the US dollar.

BRICS and Global Market Could See US Dollar Enjoy Tariff-Driven Surge

Since his return to the White House, Donald Trump has sought to do away with decorum and delicacy. In an effort to balance the nation’s international standing, Trump has adopted increased import taxes on a host of countries. The question is, will it pay off?

The answer could surprise many. Indeed, BRICS may be in trouble as experts project a ‘tariff-drive’ US dollar surge in the near future. If it does take place, it could see the President rewarded for his policy and ensure the reserve status of the greenback, something that Trump has focused on since his return.

According to Goldman Sachs analysts, the US dollar could increase from protectionist trade policies. Moreover, the movement could make the asset even more attractive to currency traders, experts state.

The bank states that entities that take long positions in the US dollar will see increased profits as tariffs strengthen its appeal. This could be dangerous for the BRICS group. Not only does it reinforce increased tariffs, but it reverses the work they’ve done in the last several years to de-dollarize global markets.

@ Newshounds News™

Source:  Watcher Guru

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Thank you Dinar Recaps

“Bits and Pieces” in Dinarland Sun. Afternoon 3-9-2025

KTFA:

Clare:  Mechanism for publishing data on buying and selling foreign currencies

3/9/2025

The Central Bank of Iraq explains the mechanism for publishing data on the sale and purchase of foreign currencies from the daily bulletin to the monthly report, which will include:

- Total enhancement of bank balances abroad.
- Settlements of electronic payments abroad.
- Cash sales.

The bank confirms that this decision came in conjunction with the transition from the electronic platform mechanisms to the mechanisms for enhancing the balances of authorized Iraqi banks with correspondent banks, and that the process of enhancing banks does not reflect the daily sales of bank customers until the operations are actually realized. 

It draws attention to the Central Bank of Iraq's possession of sufficient foreign reserves to meet all official requests for foreign currency, which enhances confidence in the national currency. 

Noting that the report scheduled to be published next month will include details of external transfer operations
in terms of (amounts, the most prominent imported goods and materials, the most prominent countries from which they were imported.

Central Bank of Iraq 
March 5, 2025

https://cbi.iq/page/164

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Clare: Parliamentary Finance: The budget is technically ready and its delay may be deliberate

3/9/2025  Information / Special..

 Member of the Parliamentary Finance Committee, Moeen Al-Kazemi, called on the government today, Sunday, to expedite sending the budget tables for the year 2025 to Parliament, stressing that its delay may be deliberate, as happened last year.

Al-Kazemi explained in a statement to / Al-Maalouma / agency, that “the Ministry of Planning has all the priorities and indicators related to the projects investment aspect, including the needs of ongoing and new projects, which allows the government to quickly prepare the required tables.”

He added that "the Ministry of Finance has a clear vision of the operational aspect, including salaries, consumer expenditures, the food ration, and governing and sovereign expenditures, which means that the government is able to complete the tables within just one week."

He stressed "the need to avoid any unjustified delay in sending the tables," warning of "the impact of this on approving the budget on its scheduled date."

He called on the government to "expedite sending the budget tables for the year 2025 to Parliament and assume its responsibilities to ensure the stability of the financial and economic conditions in the country."

It is noteworthy that the House of Representatives had previously voted on the budget amendment law, and sent it to the government with the aim of sending the budget tables.  LINK

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

Mnt Goat Article:  "INFLATION’S FREEFALL: IRAQ HITS 2.8%, ECONOMIC HOPES SOAR”.  Yes, only 2.8% and this is fantastic and amazing news since this is way in line with acceptable inflation rates for country, according to the IMF...

Frank26  Article: "Evaluation of the Central Bank's journey in 22 years"  This article...is very tedious...It is a climax...summary...of what the monetary reform has done for the banking system...purchasing value... currency itself...exchange rate...all of this.  The whole monetary reform education that has been presented up to this date...behold.  Who is this coming from?  The CBI.  To who?  The citizens of Iraq.  For what reason?  Because they've been educated on what they're about to receive and do.  This is a wonderful summary...

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MARKET CRASH 2025: The Everything Bubble Is Bursting

ITM Trading:  39-2025

A market crash in 2025 may be closer than you think, as reckless stock market speculation and soaring debt push the economy to its breaking point.

With the top 10% pulling back spending and confidence in the U.S. financial system unraveling, this could be the final trigger for a global monetary reset.

Watch now to find out what’s coming next.

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

GOLD: Dollar COLLAPSE Is A Process, It Is THAT Obvious | Taylor Kenney

GOLD: Dollar COLLAPSE Is A Process, It Is THAT Obvious | Taylor Kenney

Taylor Kenny:  3-8-2025

In this interview, Taylor Kenney from ITM Trading explains why the US dollar is losing value and how gold remains a reliable store of wealth.

She discusses rising debt, market volatility, and the impact of tech trends on our economy, offering clear insights for today’s investors.

00:00 - Is Gold True Money?

 00:32 - Introduction to Taylor Kenney

01:56 - Taylor’s Personal Journey to Gold

 03:21 - The Truth About the Dollar Collapse

 04:45 - U.S. Job Market Concerns

06:49 - Daily Economic Indicators to Watch

07:42 - Timing of the Dollar’s Decline

09:01 - BRICS & De-Dollarization

10:51 - Economic Acceleration & Instability

 12:23 - Can AI Save the U.S. Economy?

16:19 - Why Is Gold Rising Now?

20:04 - Could Gold Be Revalued?

24:54 - Dollar vs. Gold: Complex Relationship

 26:22 - Silver’s Potential in This Market

29:28 - Is It Too Late to Buy Gold?

30:28 - Investor Sentiment on Gold and Silver

32:27 - What Could Derail Gold’s Rally?

https://www.youtube.com/watch?v=N2UYQ3PR95c

News, Rumors and Opinions Sunday 3-9-2025

KTFA:

Frank26:  "AL-SUDANI KNOWS WHOSE SIDE HE IS ON"......F26

America calls on Iraq to end dependence on Iranian energy and welcomes Al-Sudani's commitment

3/6/2025

The US State Department called on Iraq to stop relying on Iranian energy sources "as soon as possible."

In response to whether Washington has reached a deal to renew Iraq's exemption from sanctions on Iranian gas imports, which expires tomorrow, Saturday, US State Department spokeswoman Tammy Bruce said, "At this point, we have nothing to announce regarding the current electricity exemption, which expires on March 8."

"We are reviewing all existing sanctions waivers that provide any measure of economic and financial relief," she added.

The spokeswoman welcomed the commitment of Iraqi Prime Minister Mohammed Shia al-Sudani "to achieve energy independence," expressing her hope that the United States would lead the way when it comes to this type of approach.

Iraq currently produces 27,000 megawatts of electricity through stations, most of which operate on gas, but the production capacity sometimes drops to 17,000 megawatts.

This amount, at its maximum, does not meet the country's electricity needs, as Iraq needs to increase production to reach 40,000 megawatts in order to ensure the provision of energy around the clock.

To solve this crisis, Iraq resorted to importing quantities of Iranian gas, which threatened to expose it to US sanctions, before the United States granted it an exemption that is renewed periodically.

With US President Donald Trump returning to power, he pledged to pursue a policy of "maximum pressure" towards Iran. As a result, the Iraqi government asked the new US administration to extend the waiver granted by the previous administration, according to previous statements by Al-Sudani in an interview with Asharq.

Al-Sudani touched on the issue of ending dependence on Iranian supplies during the interview, noting that the country plans to completely end gas imports by 2028, adding: "There will be clear energy independence."

He continued: "Ultimately, we need this exception to continue throughout this period. At the same time, we have started the process of linking energy with neighboring countries in order to cover our needs, and this is part of the concept of integration that we seek with our brothers."

This is not the first statement of its kind, but rather comes just days after US Secretary of State Marco Rubio called Iraqi Prime Minister Mohammed Shia al-Sudani, where they discussed Iranian influence in the region, and Rubio urged Iraq to "achieve energy independence."

The new US statement may not mean that Washington will not renew the exemption granted to Iraq, but it indicates increased pressure on Baghdad to get rid of these supplies.

The comments come hours after US Treasury Secretary Scott Besant confirmed that the US would tighten sanctions on Iran, adding that the US would “shut down” the country’s oil sector using “pre-determined criteria and timelines.” He hinted that “making Iran bankrupt again would be the beginning of our updated sanctions policy.”

The Treasury secretary suggested that the United States could work with “regional actors” to help Iran get its oil to market. One of those countries is likely to be Russia, which earlier this week signaled its willingness to help the United States in talks with Iran over ending its nuclear program and its support for anti-American regional proxies.

“Treasury is prepared to engage in frank discussions with these countries,” Bessent said. “We will work to shut down Iran’s oil sector and drone manufacturing capabilities.”   LINK

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Frank26:  "SECURITY & STABILITY FOR THE MONETARY REFORM COMES IN MANY WAYS".....F26

Trump reveals he sent a letter to Iran to negotiate on the "nuclear"

3/7/2025

US President Donald Trump announced on Friday that he had sent a letter to Iran to negotiate an agreement on nuclear weapons .

Trump said during an interview with Fox Business that he wants to negotiate an agreement regarding the nuclear weapons program .

"I sent a letter yesterday, Thursday, to the leader of Iran to negotiate an agreement," he added, expressing his hope to negotiate an agreement regarding the nuclear weapons program with Iran .

Bloomberg reported last Tuesday that Russia had agreed to help the Trump administration communicate with Iran on various issues, including Tehran's nuclear program and its support for anti-US proxies in the region .

"Russia believes that the United States and Iran should resolve their common issues through negotiations. Moscow is ready to do everything in its power to help achieve this," Kremlin spokesman Dmitry Peskov was quoted as saying by Bloomberg, which was circulated by Russian state media. LINK

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

Militia Man   The informal market are now feeling the pinch because they're having a harder time to get the dollar...They're going to have to pay a lot more for it...You can go to the central bank and get it for 1320 instead of 1460,  1500, 1600...but it's probably going to climb.  Are we concerned about it?  No.  Because the parallel market is insignificant in  comparison to the total market...It's about 5%.  95% of the people that are doing business are doing it properly which is huge.  

Fnu Lnu  I reported some time back that Maliki had been caught with a jet filled with Dinar attempting to depart for Switzerland. The jet was initially detained but ultimately allowed to depart Iraq. I saw video of the detainment and the interior of the plane and judging by the volume of Dinar onboard, it had to be multiple trillions of dinar. Now Iraq wants it back.  Article: "Iraq's Federal Commission of Integrity (COI) has called on United Nations Convention Against Corruption (UNCAC) member states to enhance legal cooperation in recovering stolen assets and illicit funds...Swiss Ambassador Daniel Hunn...praised Iraq's reconstruction efforts...affirming Switzerland's readiness to cooperate in recovering stolen assets...and confirmed that Swiss authorities are actively working with Iraq to facilitate the repatriation of funds".

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Market Bottomed For Now, Bigger Bubble Crash Awaits | Milton Berg

David Lin:  3-8-2025

https://www.youtube.com/watch?v=_W84fkWPk40

Seeds of Wisdom RV and Economic Updates Sunday Morning 3-09-25

Good Morning Dinar Recaps,

TRUMP ADMINISTRATION SPURS CREDIT UNIONS' RETURN TO CRYPTOCURRENCY

DALLAS—The Trump Administration is bringing more credit unions back to offering cryptocurrency, says Bank Social, which offers advice to CUs considering stepping into this space.

The return to offering the service by more credit unions follows a sharp decline in cooperatives offering crypto services to members following the collapse of FTX in late 2022 and the sudden departure of NYDIG within the CU industry not long afterward.

Becky Reed, COO of crypto platform Bank Social, said the two primary reasons credit unions are coming back is the Trump Administration’s pro-crypto agenda and its emphasis on deregulation.

“The last six months we have seen interest begin to gain ground in digital assets—not just for investing but for payments, fractional lending and more,” said Reed.

GlobalData banking analyst Harry Swain said FIs could face fewer crypto regulatory hurdles under the Trump Administration.

“As you'll, recall back in 2022 there was quite a bit of interest in cryptocurrency among credit unions, and there were some folks in the credit union space offering a crypto wallets, including us,” Reed said. “And then, FTX happened, and everyone kind of scattered to the wind.”

What also left a bad taste in the mouths of credit unions regarding digital currency is crypto platform NYDIG backing out of its agreements with credit unions in late 2023—forcing many members to sell their cryptocurrency—some at a loss—damaging member relationships with CUs that had been working with NYDIG.

Non-Custodial Crypto Wallet

Bank Social offers a non-custodial crypto wallet, where consumers control their digital money, not the crypto platform, owning their currency from day one.

“Credit unions were really starting to see the use cases for crypto. In fact, when I would speak at meetings I would ask people, just like I did in ’22 and ’23, how many people in the room felt like crypto was a scam. In ’22 and ’23, a third to half the room would raise their hands. Now, no one is raising their hand,” Reed said. “People are starting to understand that crypto is not just about speculative investing, but there are real use cases.”

Reed pointed to the momentum that has been building for cryptocurrency, noting that an a16Z study on the state of crypto in 2024 shows that in the second quarter of 2024, dollars in stablecoin transactions exceeded total Visa dollars.

“In the same period, Visa had more transactions. But, the transaction dollars are smaller,” Reed said. “The dollars in crypto transactions are massive.”

Reed said to expect crypto to lead to market disruption this year.

“I believe the theme song for 2025 is going to be payments, and of course cryptocurrency and stablecoins,” Reed said. “With the Trump Administration there's going to be a more bullish approach to crypto adoption, because, as you know, the FDIC has come out and said you don't want to play in this space unless you get our permission.”

Reed pointed out that credit unions have taken a wait-and-see approach, adding that NCUA has said to do what's best for members, making sure the CU is doing its due diligence.

“The message to credit unions is don't be afraid to test, try, pilot,” she said.

Reed asserted that every candidate from the November elections that had a pro-crypto stance was elected.

“That speaks about what is actually happening on the ground,” Reed said. “Here at Bank Social, we already started to see more interest in crypto among credit unions before the election.”

Bullish Prediction

Reed explained that Bank Social had about 25 credit unions in its pipeline when the FTX collapse happened, and only about five moved forward afterward.

“Today, several dozens of credit unions are interested,” Reed said. “We are getting calls from credit unions about once a day. I am being bullish on this prediction, but by the end of ’25 I project we will be working with more than 100 credit unions.”

Reed shared advice for credit unions considering playing in the crypto space.

 “Credit union leadership, as well as boards, need to have what I call a digital roadmap that includes all things digital,” she said. “Credit unions these days, and all financial institutions, are really interacting with their members in the digital world.”

Reed said CUs must be learning how cryptocurrency fits best into what their members are doing.

“Are their members using it as an investment? Or are they using it as a basis for payments? Can they hold stablecoin deposits? They need to understand the ownership economy of Web3, union boards don't know what Web3 is,” she said. “I think it's important to understand that's the next iteration, the next wave of the Internet.”

@ Newshounds News™

Source:  CU Today

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BRICS: WHY CRYPTO MAY BE CLEAREST PATH THROUGH US TRADE WAR

2025 has come with rising geopolitical tensions that have created no shortage of uncertainty for global markets.

However, with BRICS and the United States set to face reciprocal tariffs, crypto may be the clearest pay through a US-driven trade war. Indeed, the emerging asset class could provide something that both sides want.

US President Donald Trump has maintained his aggressive economic policy stance since returning to the White House. 

Specifically, he has targeted the growing BRICS economic alliance. With his eyes set on securing the end of de-dollarization and the global south seeking alternate trade currencies, they could have a joint solution in digital assets.

BRICS & US Could Use Crypto to Find Way Through Budding Trade War

Donald Trump’s contentious relationship with the BRICS alliance is undeniable. The economic bloc has been on the receiving end of several threats, as the President has promised to levy 150% tariffs on the collective. Specifically, he has targeted the group for its past attempts to de-dollarize global markets.

However, there could be a solution present for both sides. For BRICS, crypto may be the clearest path through a potential US trade war. Indeed, the asset class may provide a simple answer that gets both sides what they want, in the short and long term.

Trump’s main point of issue with BRICS is its efforts to move away from the US dollar. However, his weaponization of it reaffirms the necessity of that action. Moreover, the alliance has recently affirmed its decision to find alternative trade settlement currencies outside of the greenback.

Bitcoin could be an answer worth exploring for both sides. Adoption of the digital currency could ensure that the blocs don’t disregard the US dollar in favor of an alliance-denominated asset. Meanwhile, it is still a de-dollarization shift in its truest sense

Alternatively, the Trump administration has shown an affinity for Bitcoin. With a BTC reserve strategy to be released today, the adoption of the asset class could be beneficial to the United States.

A common ground in promoting the use of Bitcoin on a global scale could be the best answer to curtail any brewing trade war between the US and BRICS.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

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7 Worst Mistakes Boomers Can Make With Money — and How To Avoid Them

7 Worst Mistakes Boomers Can Make With Money — and How To Avoid Them

Cindy Lamothe    Sun, March 9, 2025   GOBankingRates

Every generation comes with its own set of challenges and opportunities. For boomers, there are certain fumbles they can make with money that will significantly hinder their financial situation in retirement.

 “Boomers often face financial pitfalls that can jeopardize their retirement,” said Stewart Willis, President of Asset Preservation Wealth & Tax.

Below are some of the worst mistakes and how to avoid them.

 Putting All Investments Into Cryptocurrency

According to Melanie Musson, finance expert with Insurance Providers, some boomers make the mistake of putting all their investments into cryptocurrency.

“Crypto has had an impressive run. It could grow rapidly, or it could fizzle. It’s risky. High-risk investments have a place in a diversified portfolio, but they’re not where a boomer should allocate all their savings.”

She noted that boomers’ retirement finances don’t have time to bounce back from a major loss.

Instead of putting everything into crypto, she advised investing in a diversified portfolio favoring Are You Rich or Middle Class? 8 Ways To Tell That Go Beyond Your Paycheck options.

Racking Up Credit Card Debt

Another financial pitfall is racking up credit card debt.

“Credit card debt is expensive. Interest rates are ridiculously high. If you get into credit card debt, you’ll pay back far more than you borrowed, making your retirement savings disappear more quickly than you anticipated,” said Musson.’

TO READ MORE:  https://www.yahoo.com/finance/news/7-worst-mistakes-boomers-money-110043895.html

“Tidbits From TNT” Sunday Morning 3-9-2025

TNT:

Tishwash:  Until further notice.. Parliament postpones its session

The Media Department of the Council of Representatives announced today, Saturday, the postponement of the parliamentary session until further notice.

The media department of the House of Representatives stated in a statement received by / Al-Maalouma / that “Parliament postponed its session until further notice due to the lack of a legal quorum.”

It is noteworthy that the State of Law and Al-Sadiqoun parliamentary blocs have announced a boycott of the sessions of the House of Representatives until the Popular Mobilization Law is included in its regulations.  link

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Tishwash:  Parliamentary Oil Committee reveals urgent solutions for Iranian gas

The Parliamentary Oil and Gas Committee revealed, on Sunday, the Iraqi government's intention to import Gulf gas instead of Iranian gas after the recent US sanctions, announcing a project that is being worked on at high speed in Basra, the far south of the country.

The spokesman for the committee, Ali Shaddad, said, "The problem with the Ministry of Electricity is that it has established stations in the Iraqi provinces that depend on gas only, while the stations in Basra are complex and operate on gas, crude oil, and black oil, and this is what contributed to the stability of the electrical system in the province."

He explained that "the Prime Minister personally follows up on the completion of the gas pipeline project from the floating platform in Basra on a daily basis," indicating that "the Ministry of Oil began working on it about thirty days ago and it will be completed at high speed within 120 days."

He added that "the completion rate has exceeded 30% so far," stressing that "the project will contribute to transporting Gulf gas in quantities of up to 200 cubic meters   link

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Tishwash:  Regional oil companies seek agreements to resume oil exports.. and America is "interested" in reopening the Ceyhan pipeline

 The global oil company, APIKUR, operating in the Kurdistan Region, seeks to sign clear agreements with Baghdad and Erbil that guarantee the payment of its past and future financial dues in preparation for the resumption of oil exports, as it confirmed that the United States is still very interested in reopening the Iraq-Turkey Ceyhan export pipeline from the Kurdistan Region’s fields.

In an interview with the K24 news website, translated by (Al-Mada), the spokesman for the APIKUR group, Miles Caggins, described the recent meeting in Baghdad as a step forward in discussing the resumption of oil exports from the Kurdistan Region, stressing the need for clear agreements and written guarantees.

Caggins said in a statement to the news website that the meeting allowed the member companies of the APIKUR group to directly convey their conditions to the federal government authorities in Baghdad and the Kurdistan Regional Government.

Among the main issues discussed in the meeting was the selection of an international consultant to evaluate the costs of oil production and export.

The APIKUR group has urged the Iraqi government to define the scope of the consultant’s work, his responsibilities, and the timetable for his activity. The Epicor Group provided the Ministry of Natural Resources of the Kurdistan Regional Government with a list of independent experts specialized in the assessment process.

The report indicated that other meetings are planned to establish agreements through which oil exports can be allowed to resume through the Iraq-Turkey Ceyhan export pipeline, which is a priority emphasized by Iraqi Prime Minister Mohammed Shia al-Sudani.
The member companies of the APICORP group called for the conclusion of transparent and fair agreements regarding future financial payments, in addition to settling and paying the debts due for invoices amounting to $1 billion.

Caggins, an APICORP spokesman, said: “We need written guarantees and we have proposed solutions,” noting that “APICOR is open to receiving financial payments, whether through the companies selling their allocations of produced oil, or through cash payments through escrow accounts to ensure that the amounts due are paid on time.”

He stressed the need for “financial agreements not to be affected by political aspects and atmospheres.”
While Turkey announced that the Iraq-Turkey Ceyhan pipeline is ready for operation following inspections, the APICORP group stressed the need for agreements between Baghdad and Erbil to allow exports to resume.

The APICORP spokesperson highlighted the strategic importance of oil exports from both the Kurdistan Region and southern Iraq, stressing that a stable energy sector would strengthen the country’s economic and security position.
He also reiterated that APICORP has no oversight role over exports, which are the responsibility of the State Oil Marketing Organization (SOMO) and the Iraqi Ministry of Oil.

Caggins added that the United States remains very interested in reopening the export pipeline, and that the Trump administration is discussing the matter with the previous administration. Given the important development, and the humanitarian and military assistance that the United States provides to Iraq, APICORP calls on the Iraqi authorities to treat American and other foreign oil companies fairly, especially those operating in the Kurdistan Region.

“The only obstacle to resuming oil exports is the need for clear agreements,” Caggins stressed, noting that “a simple three-page document could solve the problem and allow exports to resume according to standard commercial procedures and practices.”
While negotiations on this matter continue, the Epicor Group expressed its readiness to meet again and reach an agreement that benefits all parties.

Oil exports from the Kurdistan Region’s fields via the Iraq-Turkey-Ceyhan pipeline were halted on March 23, 2023, following a ruling by the International Chamber of Commerce in Paris in favor of Baghdad against Turkey for facilitating oil exports between 2014 and 2018 without the approval of the federal government. Turkey must pay Iraq $1.5 billion in outstanding amounts, according to the court ruling, which Turkey refused to implement and closed the pipeline.

Reports indicated that the chronic closure of the Ceyhan export pipeline has caused significant losses to both Baghdad and Erbil, as it has halted crude oil exports at a rate of 450,000 barrels per day, a figure that represents 0.5% of global market supplies. link

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

Tishwash:  Iraq, Finland Discuss Strengthening Economic and Investment Ties

Ambassador Mohammed Hussein Bahr Aluloom, Undersecretary of the Iraqi Foreign Ministry for Bilateral Relations, met in Helsinki with Jarno Syrjälä, Under-Secretary of State for International Trade of Finland, to discuss ways to enhance economic, trade, and investment cooperation between the two countries.

Ambassador Bahr Aluloom highlighted Iraq's economic progress, emphasizing security stability and an improved business environment, which have made Iraq an attractive destination for foreign investments.

 He cited the United Kingdom's decision to lower travel warnings to Iraq as an example of international confidence in Iraq's progress. The Ambassador also encouraged Finnish companies to invest in strategic projects, particularly the Development Road and the energy sector.

Under-Secretary Syrjälä welcomed Iraq's economic reforms, acknowledging their role in enhancing the investment climate. He expressed Finnish companies' interest in returning to the Iraqi market.

The two sides agreed to develop practical mechanisms to strengthen cooperation, including a delegation of Finnish companies visiting Iraq to explore investment opportunities in renewable energy, electricity, digital transformation, and artificial intelligence. link

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Mot:  the ""lost an hour"" Delima!!!

Mot: . darn time change. I had to go around and fix all my clocks.

What Does Gold Revaluation Mean For The Gold Price? | Peter Grandich

What Does Gold Revaluation Mean For The Gold Price? | Peter Grandich

Liberty and Finance:  3-8-2025

Peter Grandich discusses the volatility in the stock market, attributing it to uncertainty in the economy and signs of a potential downturn.

He emphasizes the bullish outlook for gold and silver, explaining that despite recent price fluctuations, precious metals remain a strong investment due to their fundamental strength.

Grandich also touches on the financial troubles facing the U.S., particularly the unsustainable growth of national debt and the challenges of servicing interest payments.

He predicts that geopolitical tensions, such as those in Ukraine and the Middle East, could further drive gold prices higher. Overall, Grandich’s insights suggest a cautious view of the stock market while highlighting precious metals as a safer haven amid economic and political instability.

Grandich didn’t shy away from addressing the elephant in the room: the precarious financial situation of the United States. He pointed to the unsustainable trajectory of the national debt, highlighting the looming challenges of servicing the ever-increasing interest payments.

This growing debt burden, he argued, is a major vulnerability that could exacerbate any future economic downturn.

Furthermore, Grandich believes that escalating geopolitical tensions will further fuel the demand for gold. He specifically mentioned the ongoing conflicts in Ukraine and the Middle East, suggesting that these volatile situations will drive investors towards the perceived safety and stability of gold, ultimately pushing prices higher.

In essence, Peter Grandich’s appearance on Liberty and Finance provided a sobering assessment of the current economic landscape.

 He painted a picture of a stock market fraught with volatility and potential risks, while simultaneously championing gold and silver as a more prudent investment strategy in the face of economic and political turmoil. His insights underscore the importance of cautious financial planning and a diversification strategy that includes precious metals as a hedge against potential losses.

For investors seeking shelter from the storm, Grandich’s analysis suggests that gold and silver offer a beacon of stability in an increasingly uncertain world.

INTERVIEW TIMELINE:

 0:00 Intro

1:30 Stock market volatility

4:00 Gold market

6:13 Stock market outlook

 8:05 Miners

11:17 Geopolitics

 14:50 London gold outflows

 17:40 Gold revaluation

20:46 National debt

23:34 Debt & the Bible

https://www.youtube.com/watch?v=Al7KhMaR1FU

More News Rumors and Opinions Saturday PM 3-8-2025

KTFA:

Clare:  Iraq extradites suspects in 'theft of the century' from Kuwait

3/8/2025

The Iraqi Integrity Commission announced on Saturday the extradition of two of the accused in the case of stealing tax deposits, known in the media as the "theft of the century", from the authorities in the State of Kuwait.

The Authority stated in a statement today that it was able to recover the managing director of a private company for general trade and contracting limited and his agent accused in the case of stealing tax deposits, noting that their role in the case was to receive very large sums of money in order to facilitate the procedures for disbursing the stolen deposits.

The Authority noted its procedures that resulted in the extradition of the accused, which consisted of organizing an extradition file against them and sending it to the Public Prosecution Office, explaining that after follow-up and coordination with the relevant authorities, including the Arab and International Police Directorate at the Ministry of Interior and the efforts of the Iraqi Embassy in the State of Kuwait, an international red notice and search warrant were issued against the accused.

She pointed out that they were arrested in the State of Kuwait, which handed them over to the Republic of Iraq through diplomatic channels.

She pointed out that the judge of the Second Karkh Investigation Court had previously issued an arrest warrant against the accused, based on the provisions of Article (11/444) of the Penal Code, after reviewing the testimony of some of the accused in the case and the witnesses.

At the end of 2024, the Iraqi judiciary issued an in absentia prison sentence for a number of defendants accused of stealing tax deposits, known in the media as the “theft of the century,” including the first defendant, Nour Zuhair, and a former MP.

According to a judicial source, who spoke to Shafaq News Agency, "The Karkh Criminal Court for Combating Corruption settled the cases related to the theft of (tax deposits), and issued sentences of ten years in prison against the accused Nour Zuhair, six years in prison against the accused Raed Juhi, and a number of employees who participated in the crime, and three years in prison against the former member of the House of Representatives, Haitham Al-Jubouri."

In 2022, it was announced that more than 3 trillion Iraqi dinars ($2.5 billion) had been lost from tax deposits, through a coalition of 5 oil companies using fictitious bonds.

Following this, an order was issued to summon officials close to former Prime Minister Mustafa Al-Kadhimi, including Finance Minister Ali Allawi, the Director of the Prime Minister’s Office, Raed Juhi, and others.

On October 24, 2022, Nour Zuhair was arrested, as he heads the board of directors of one of the companies involved in the case, and was later released on bail, after Prime Minister Mohammed Shia al-Sudani announced the recovery of 5% of the amount, in exchange for Nour Zuhair’s pledge to hand over all the stolen amounts within days.

The Anti-Corruption Court set August 14, 2024 as the date for Nour Zuhair’s trial, but the trial was postponed several times due to the defendant’s absence.   LINK

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Clare:  Al-Alaq: We will witness a comprehensive digital transformation in the financial sector

3/8/2025  Baghdad

The Governor of the Central Bank, Ali Al-Alaq, announced on Saturday that banks are close to being converted into smart platforms using artificial intelligence, noting that Iraq will witness a comprehensive digital transformation in the financial sector.

Al-Alaq said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "despite the great strides that have been made to activate electronic payment methods, which are a fundamental step in the digital transformation, we will soon put this stage behind us, because even the current electronic payment methods and tools are being changed and developed very quickly."

He pointed out that "soon we will notice a big difference in the tasks and functions of banks, and we will see many banks changing the nature of their work, and there will be a digital financial identity for every citizen through which he can conduct many operations in his accounts or check his balances or even invest inside and outside Iraq," stressing that "banks will soon turn into smart platforms that organize financial operations and benefit from technologies and artificial intelligence."

He added that "this great work is accompanied by the work of the Central Bank, like other central banks, in thinking about having a digital currency under the supervision of the Central Bank. We are not talking about encrypted currencies that are outside the framework of central banks, but rather about a digital currency issued by the Central Bank, and this is a major work being done in the Central Bank in coordination with international and Arab organizations and specialized bodies, and directly with the Arab Monetary Fund."

He continued: "We believe that this trend will be the one that will be imposed in the near future, and this represents solutions to major economic, financial and social problems, and will also establish a strict framework for monitoring funds and limiting corruption, money laundering and financing terrorism, because all financial movements will be within a strict and transparent system that can monitor all financial operations, and at the same time facilitates its holders to conduct extensive operations even in other countries of the world."

He added: "We expect that young people will benefit, through the tools and human resources that we have, from these tools. Indeed, we are following that many young people are investing through these portfolios and tools in various fields outside Iraq, but some need to be careful and cautious because there is a lot of fraud that occurs, and we are working to prevent citizens from falling victim to any fraud."  LINK

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

Frank26  Question: "What do you mean by 'Budget tables'?  Budget table is where the exchange rate is at that will fund the budget...They're being kept quiet, very private right now because it protects the new exchange rate from the evil that has always stolen.

MarkZ   [via PDK]   In Iraq: “Parliamentarian: Budget tables have not reached the finance committee so far”  We are all wondering why? There is one very obvious answer to this question. It may have a rate change in it. I am hearing from contacts in Iraq-they continue to delay until they are allowed to release …because there will be rates in there. I hope it is accurate and it makes a lot of sense.

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

In 90 days, this idea will outweigh silver, and the Iraqi Dinar

Economic Ninja:  3-8-2025

https://www.youtube.com/watch?v=by-7Padcvp8

CBI Makes Two Announcements: Gold | Digital Currency

Edu Matrix:  3-8-2025

In this compelling video, we dive into the Central Bank of Iraq's astonishing 45.1% increase in gold reserves in Q4 2024, a surge that could have worked wonders for your investments! Discover how investing in gold—even as little as $10 a month—can shield you from economic uncertainties.

We’ll also explore the implications of the recent trends in Iraq's banking system and digital payment advancements. Is now the time to invest in gold?

What insights can we draw from the Netflix movie "Leave the World Behind"?

https://www.youtube.com/watch?v=PbdVQTBL_y0

Iraq Economic News and Points to Ponder Saturday Afternoon 3-8-25

Central Bank Governor: We Will Witness A Comprehensive Digital Transformation In The Financial Sector

Economy | 03/08/2025   Mawazine News – Baghdad   The Governor of the Central Bank, Ali Al-Alaq, announced today, Saturday, that banks will soon be transformed into smart platforms using artificial intelligence, noting that Iraq will witness a comprehensive digital transformation in the financial sector.

Al-Alaq said: "Despite the great strides that have been made to activate electronic payment methods, which are an essential step in digital transformation, we will soon put this stage behind us, because even the current electronic payment methods and tools are being changed and developed very quickly."

He pointed out that "soon we will notice a big difference in the tasks and functions of banks, and we will see many banks changing the nature of their work, and there will be a digital financial identity for every citizen through which they can conduct many operations in their accounts or check their balances or even invest inside and outside Iraq," stressing that "banks will soon transform into smart platforms that organize financial operations and benefit from technologies and artificial intelligence."

He added, "This great work is accompanied by the work of the Central Bank, like other central banks, in thinking about having a digital currency under the supervision of the Central Bank. We are not talking about cryptocurrencies that are outside the framework of central banks, but about a digital currency issued by the Central Bank.

This is a great work being done at the Central Bank in coordination with international and Arab organizations and specialized bodies, and directly with the Arab Monetary Fund."

He continued, "We believe that this trend is what will be in the near future and will impose itself. This represents solutions to major economic, financial and social problems, and will also establish a strict framework for monitoring funds and limiting corruption, money laundering and terrorist financing, because all financial movements will be within a strict and transparent system that can monitor all financial operations, and at the same time facilitate its holders to conduct extensive operations even in other countries of the world."

He added: "We expect that young people will benefit from these tools, through the tools and human resources that we have. Indeed, we are following that many young people are investing through these portfolios and tools in various fields outside Iraq, but some need to be careful and cautious because there is a lot of fraud that is happening, and we are working to prevent the citizen from falling victim to any fraud."   https://www.mawazin.net/Details.aspx?jimare=260044

Central Bank: Comprehensive Digital Transformation In The Financial Sector Is Coming Soon

Buratha News Agency1492025-03-08   The Governor of the Central Bank of Iraq, Ali Al-Alaq, stated today, Saturday, that Iraqi banks are close to transforming into smart platforms using artificial intelligence, noting that Iraq will witness a comprehensive digital transformation in the financial sector. Al-Alaq confirmed, in a statement to the official agency, that "Iraq has made great strides in activating electronic payment methods, which is an essential step in digital transformation," noting that this stage will be overcome soon, as current electronic payment tools and methods are witnessing very rapid development.

Al-Alaq explained that in the near future, a big difference will be observed in the tasks of banks, as the nature of their work will change radically, stressing that banks will transform into smart platforms that organize financial operations using modern technologies and artificial intelligence.

He also added that every citizen will have a digital financial identity that will enable him to carry out many financial transactions easily, such as viewing balances or making investments inside and outside Iraq.

He stressed that the Central Bank is working on developing a digital currency under its supervision, noting that this currency will be different from cryptocurrencies that are not subject to the supervision of central banks.

He explained that this digital currency will be part of the Central Bank's efforts to combat corruption, money laundering and terrorist financing, as it will provide a tight and transparent financial system that helps monitor all financial operations.

Al-Alaq also stressed that this approach will provide solutions to major economic, financial and social problems, and will also allow digital currency holders to conduct extensive financial transactions, even outside Iraq.

He added that Iraqi youth will greatly benefit from these modern financial tools, noting that many of them invest through these portfolios and tools in various fields outside Iraq.

At the same time, he warned that fraud may occur, explaining that the Central Bank is working to protect citizens from these risks.   https://burathanews.com/arabic/economic/457291

Al-Hakim And Al-Khazaali Stress The Necessity Of Approving Important Laws

Saturday 08 March 2025 19:32 | Politics Number of readings: 64  Baghdad / NINA / The head of the National Wisdom Movement, Ammar al-Hakim, and the Secretary-General of the Asa'ib Ahl al-Haq Movement, Qais Khazali, stressed today, Saturday, the necessity of enacting important laws that contribute to providing services to the citizen and reforming his economic reality.

The media office of the head of the National Wisdom Movement stated in a statement that "al-Hakim received al-Khazali, and the two parties exchanged congratulations on the advent of the holy month of Ramadan, while discussing developments in the political scene in Iraq and the region."

According to the statement, al-Hakim reiterated the importance of preserving the stability achieved in the country at the political, security and social levels, as well as Iraq preserving its regional and international role, stressing "rejecting the tense discourse," stressing that "what was achieved was through the sacrifices of all Iraqis and from all components."

Al-Hakim stressed "the role played by the Coordination Framework in the political scene, as it is part of the State Administration Coalition."

The two parties stressed, according to the statement, "the necessity of enacting important laws that contribute to providing services to the citizen and reforming his economic reality." / End

https://ninanews.com/Website/News/Details?key=1190747

Iraq ranks second in the Arab world in exporting oil to America

Saturday 08 March 2025 09:51 | Economic Number of readings: 181   Baghdad / NINA / The US Census Bureau announced today that the total value of Iraqi oil exports to the United States during January 2025 amounted to more than $ 400 million, according to its monthly report.

The report stated that Iraq exported 5.62 million barrels of oil to America during the same month, at a value of $ 442 million, noting that Iraq ranked second among Arab countries exporting oil to the United States after Saudi Arabia, while Libya came in third place, Kuwait fourth, while the UAE was in fifth place with exports of one million barrels. / https://ninanews.com/Website/News/Details?key=1190645

Fluctuations In Dollar Exchange Rates With The Closing Of The Stock Exchange In Iraqi Markets

 08/03/2025  Mawazine News – Economy  The US dollar exchange rates witnessed a rise in the markets of the capital Baghdad today, Saturday, while they stabilized in Erbil, the capital of the Kurdistan Region, with the closure of the main stock exchange in the country.

The dollar prices rose with the closing of the Al-Kifah and Al-Harithiya stock exchanges to record 148,400 dinars per 100 dollars, while the prices were 148,350 dinars per 100 dollars this morning.

As for the selling prices in exchange shops in the local markets in Baghdad, they stabilized, as the selling price reached 149,500 dinars per 100 dollars, while the purchase price reached 147,500 dinars per 100 dollars.

In Erbil, the dollar recorded stability, as the selling price in exchange shops reached 148,000 dinars per 100 dollars, while the purchase price reached 147,800 dinars per 100 dollars.

https://www.mawazin.net/Details.aspx?jimare=260047

Basra Crude Closes With Heavy Losses

Saturday 08 March 2025 | Economic Number of readings: 104  Baghdad / NINA / Basra heavy and medium crude oil recorded significant losses during the past week.

Basra heavy crude closed in its last session, yesterday, Friday, with a slight decrease of one cent to reach $76.78, and recorded a weekly loss of $4.67, equivalent to 6.45%.

Basra medium crude also closed in its last session with a decrease of one cent to reach $70.83, and recorded a weekly loss of $4.37, equivalent to 5.81%.

Brent and American crudes recorded a weekly loss of more than 5%, with Brent crude closing at $70.36 and American crude closing at $64.4. / https://ninanews.com/Website/News/Details?key=1190624

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

The Controlled Demolition of the US Dollar’s Reserve Status

The Controlled Demolition of the US Dollar’s Reserve Status [Podcast]

Notes From the Field By James Hickman (Simon Black) March 5, 2025

Even during the darkest moments of the Biden administration—the shameful withdrawal from Afghanistan, 9% inflation, bureaucrats hell-bent on destroying the economy—I still said America’s problems were fixable.

But I didn’t see any hope in the previous administration or a prospective Kamala administration to fix things and only expected them to grow worse.

We’re now a month and a half into a new administration, and it’s fair to say some things are going very well.  There are others that, depending on your view, are not.

One big concern I have is that no one is interested in reforming Social Security—a massive entitlement program whose own trustees say will run out of money over the next several years. This is a gargantuan financial crisis in the making, a ticking time bomb that no one wants to touch.

Depending on your priorities, foreign relations are also on the list of concerns.

If you're more isolationist, you might think that the unwinding of relationships and alliances is no big deal—that the world needs America more than America needs the world.

But there are consequences to that...

$28 trillion of US government debt is coming due over the next four years, and a lot of that is owned by foreign governments and central banks.

The Treasury Department needs these players to go along and reinvest—not only in America but specifically in US government bonds.

And if relationships are too fractured, they might not be willing to do that.

That could create an enormous fiscal crisis that would most likely result in a lot of inflation.

It also puts into question the US dollar’s status as the global reserve currency, which it has enjoyed for more than 80 years.

The reality, however, is that while the short-term consequences of losing reserve status could be profound, in the long term, reserve currency status is not a requirement for economic prosperity.

There are plenty of countries around the world—Taiwan, Singapore, Switzerland, etc.—that are prosperous nations and do not have the global reserve currency.

In some respects, reserve status is a huge benefit, but also a bit of a handcuff.

In today’s podcast episode, we explore what we call the “controlled demolition” of America’s reserve status—a way for America to potentially remain powerful yet lose that reserve status.

That could be the outcome over the next four years.

And today, we discuss the paths and consequences of that scenario.

Spoiler Alert: It’s probably good for gold, and possibly crypto too.

Click here to listen in to today’s episode.

(For the audio-only version, check out our online post here.)

To your freedom,  James Hickman   Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/podcast/the-controlled-demolition-of-the-us-dollars-reserve-status-podcast-152164/

The U.S. Needs a Real Gold Audit: Jan Nieuwenhuijs

The U.S. Needs a Real Gold Audit: Jan Nieuwenhuijs

Palisades Gold Radio:  3-7-2025

Tom welcomes back Jan Nieuwenhuijs to explore the dynamics of the global gold market and its implications for global monetary systems.

Key topics include the movement of gold from London to Comex, driven by concerns over tariffs and geopolitical shifts. Jan explains that this flow reflects both physical arbitrage and strategic reshuffling of gold reserves, with banks moving gold into the U.S. for potential future use or resale in Asia.

The discussion also delves into the lack of transparency around U.S. gold audits, particularly at Fort Knox.

 Jan highlights issues with the auditing process, noting that compartments have been reopened multiple times without proper justification, raising questions about the integrity of the audits.

 He argues for an independent audit to ensure accountability and reassurance regarding the nation's gold holdings. Another significant point is the valuation of U.S. gold reserves at $42 per ounce, a relic from the Bretton Woods era aimed at demonetizing gold.

Jan suggests that revaluing gold could unlock substantial funds but warns this would be inflationary.

 He also touches on the role of gold in China's financial strategy, noting that while official reports understate their purchases, they are actively accumulating gold to diversify away from the dollar.

Lastly, Jan concludes with the importance of tracking central bank gold buying and developments in alternative payment systems like the BRICS mBridge, which could challenge the dollar's dominance.

 Time Stamp References:

0:00 - Introduction

0:54 - Tariffs & LBMA Flows

5:30 - Gold Demand & Lease Rates

 9:01 - Import Code Changes

10:30 - U.S. Gold Reserve Audits

20:14 - Time Req'd to Audit

21:37 - Encumbrance Concerns

24:35 - $42 U.S. Gold Valuation

26:36 - U.S. Dollar Vs. Gold

29:09 - Revaluing & Funding

32:10 - Sovereign Wealth Fund?

33:25 - Uncertainties & Credit

 37:50 - Deleveraging & Dollar

41:00 - Eastern Perspective

44:32 - China's Gold Holdings

46:30 - Gold & Dollar Flight

49:49 - Concluding Thoughts

 51:30 - Wrap Up

https://www.youtube.com/watch?v=zG_B-BIJcN8