Iraq Economic News And Points To Ponder Sunday Morning 5-11-25

Government Advisor: Contracting With International Auditing Firms Is A Key Step To Modernizing The Economic Structure
 
Economy   Baghdad - INA - Nassar Al-Hajj  Adviser to the Prime Minister, Mazhar Mohammed Salih, confirmed today, Friday, that contracting with international auditing firms to evaluate the banking sector is a key step  to modernizing the economic structure.

While explaining that these firms are independent and unaffected by pressures and interests, he indicated that this modernization contributes to  strengthening confidence in the Iraqi financial market and reform in this sector, and  encourages a move away from the informal cash economy.

Advisor to the Prime Minister, Mazhar Mohammed Salih, told the Iraqi News Agency (INA):
 
"The statements made by Prime Minister Mohammed Shia al-Sudani during his recent important meeting with the chairmen of the boards of directors of private banks in Iraq or their representatives are consistent with the banking reform policy in Iraq, particularly 
highlighting the importance of contracting with international firms for financial auditing and assessing the status of the banking market in our country.
 
This represents a fundamental step and a foundation towards comprehensively modernizing the economic structure, while
 
simultaneously reflecting a drive to rebuild trust and cohesion within the financial sector in general and the banking market in particular."

He added,  "Prime Minister Mohammed Shia al-Sudani's statements undoubtedly represent reform axes that do not deviate from the principles of the government's approach that state institutions have followed over the past few years.
 
The primary goal of banking reform is to modernize it to align with international standards in governance, compliance, and transparency, particularly in providing confidence and efficiency in the provision of banking services to society with a broad framework of integrity and credibility in banking work."

He noted that  "the Prime Minister's speech focused on the need to encourage investment by ensuring a reliable banking system that supports financial inclusion and efforts to transition to a digital economy, electronic payments, and all digital transactions."

He explained that "the Prime Minister's speech focused on the importance of contracting with international auditing firms to re-evaluate the conditions of banks, both private and government-owned, based on a single premise:
 
ensuring their institutional capabilities to
 
      uncover any financial loopholes in the country's banking system,
     verify the integrity of accounting and administrative procedures within local banks, and
     provide an accurate assessment of the financial suitability of banking institutions.

This supports reform plans with real data to take effective steps to build a long-awaited, integrated and efficient banking system."

He indicated that "these international companies possess advanced auditing expertise and technologies, undoubtedly supported by local competence.

In addition, the international auditing and accounting firms currently undertaking the banking sector evaluation process    
     are independent entities, unaffected by pressures and interests, and
     provide greater credibility to the international community and investors,
which enhances confidence in our country's financial market." He continued,
 
"Prime Minister Mohammed Shia al-Sudani's speech did not depart from the
fundamental principles of financial and banking reform, which are based on
 
     encouraging citizens and companies to deposit funds and
     engage in credit transactions with banks instead of the informal cash economy.
 
This is achieved by creating an attractive investment environment based on transparent and stable banking institutions,
 
with the goal of supporting the private sector with effective loans and financial services.
 
This contributes to creating job opportunities and sustainable development within the aforementioned private sector, which is the true partner of the state in economic progress and prosperity in Iraq."
 
Prime Minister Mohammed Shia al-Sudani chaired a meeting of the heads of the boards of directors of Iraqi banks,
 
during which mechanisms for implementing the banking reform plans prepared by the government were discussed as part of comprehensive reforms of the economic sector.
 
During the meeting, according to an official statement, the Prime Minister emphasized that "all state sectors are linked to the existence of an effective and flexible banking system that relies on modern technologies."

He noted that  "the government has adopted comprehensive plans for banking reform and contracted with private financial auditing companies, including all banks, and has made significant progress in implementation." 

He explained that "the work of the First Rafidain Bank will  launch with a new look and vision, in partnership with specialized and well-known banks."

He pointed to "the   formulation of a clear roadmap to address the conditions of the private banking sector, as a partner in development."

He emphasized the need for cooperation during the next phase to take effective steps in economic reform. 

He pointed to "the state's distancing from detailed intervention in sectors and assuming a regulatory role," indicating  efforts to
 
     "engage the private sector and foreign companies in all mega-projects, as well as
     support local productive sectors and
     absorb the imported cash flow."
     Providing domestic goods and services to citizens as an alternative to imports and
     ensuring support for local investment.
 
The Prime Minister directed "banks to
 
     simplify procedures and
     participate broadly in the development process, as well as to
     participate as investors in all available opportunities,
     move toward partnerships with foreign companies, and
     work to build trust with citizens,
 
which will help ensure they feel confident depositing their money in banks."    
  
https://www.ina.iq/233881--.html  

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

Seeds of Wisdom RV and Economic Updates Sunday Morning 5-11-25

Good Morning Dinar Recaps,

XRP BECOMES FIRST REGULATED CRYPTO IN THE U.S. AFTER RIPPLE-SEC SETTLEMENT

▪️__Ripple settles with the SEC, paying a reduced $50 million fine.__
▪️__The SEC acknowledges XRP is not a security on public exchanges, making it uniquely regulated in the US.__
▪️__This clarity is expected to boost XRP adoption and allow Ripple to focus on global expansion.__

The long-running Ripple vs. SEC battle has finally reached a conclusion, and the outcome could reshape the crypto industry.

Ripple Labs has agreed to settle with the U.S. Securities and Exchange Commission, ending a legal fight that has lasted for years. As part of the settlement, Ripple will pay a reduced fine of $50 million. But the real headline is this: the SEC has officially acknowledged that XRP is not a security when traded on public exchanges.

XRP is now the only cryptocurrency with clear legal recognition in the United States. And that could open the door to serious institutional adoption.

Ripple Cuts Deal, SEC Walks Back Without Admitting Defeat
Originally, Ripple was ordered to pay a $125 million fine. But under the new agreement, the company will pay just $50 million, with $75 million being returned. Ripple and the SEC will ask the court to lift the previous injunction, closing the case and canceling any ongoing appeals.

The SEC made it clear in its statement that settling the case doesn’t mean it was wrong in its approach. Instead, it says this move reflects a shift in how it plans to handle crypto regulation going forward.

It also stressed that this settlement applies only to Ripple and won’t affect other enforcement actions in the crypto space.

Regulatory Attitudes Are Starting to Shift
Italian crypto expert Fabio Zuccara believes the U.S. government’s approach to crypto is becoming more constructive. He said the Biden administration, once viewed as destructive to the industry, now seems to be taking a more balanced approach.

Zuccara also pointed out that several crypto-related lawsuits have recently been dropped, further suggesting a change in direction from regulators.

XRP Trading Volume and Price Surge
The news has caused a major surge in XRP trading activity. The daily trading volume spiked from $1.2 billion to $4.2 billion, and the price climbed rapidly:

• May 1: $2.19

• May 8: $2.32 (9.5% daily jump)

• May 10: $2.37 (2.4% 24-hour surge)

In total, XRP has gained nearly 11.92% since May 8, and is up 7.6% over the last seven days.

What’s Next for XRP and Ripple?
Zuccara states that XRP now holds a unique advantage as the only crypto with legal clarity in the U.S. — a factor that may boost institutional investment and corporate adoption.

With the lawsuit behind them, Ripple is expected to resume global expansion, focusing on cross-border payments and liquidity solutions using XRP.

Earlier reports suggested the legal fight had distracted Ripple from its core business operations, but the company can now refocus on innovation and growth.

Institutional Interest in XRP Grows
Ripple’s legal clarity is already paying off. Recently, CFTC-regulated XRP futures products were launched in the U.S., signaling increased institutional confidence in the digital asset.

Conclusion
The Ripple-SEC settlement marks a historic turning point in U.S. crypto regulation. With XRP now legally recognized and regulated, it opens a new path for other crypto firms seeking similar clarity. As regulatory uncertainty fades, Ripple is poised for global growth, and XRP may emerge as the go-to digital asset for institutions and enterprises alike.

@ Newshounds News™
Source:  Coinpedia

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SAUDI ARABIA ESCHEWS FORMAL BRICS MEMBERSHIP TO AVOID ANTAGONIZING US: REPORT

The nation of Saudi Arabia is reportedly forgoing formal membership in the intercontinental economic alliance BRICS as a means of avoiding antagonizing the US.

According to a new report by Reuters, two anonymous sources familiar with the matter say that Saudi Arabia – which was invited to BRICS in 2023 – is holding off on formally joining the alliance despite joining one of their meetings in Brazil last week and being listed as a member on the group’s website.

The inclusion of Saudi Arabia in BRICS is a diplomatically sensitive issue, and the nation has refrained from formally joining the economic bloc as it did not want to anger the US and President Trump.

BRICS – which officially formed in 2009 – is an alliance between Brazil, Russia, India, China, South Africa and other countries as a means of countering Western economic dominance. In 2024, it expanded to include other nations, such as Iran, Egypt, Ethiopia, and the United Arab Emirates.

Saudi Arabia’s hesitancy to join is due to it being caught between China, its biggest exporter of oil, and the US, its security and technology partner. The US is poised to offer Saudi Arabia a $100 billion arms deal.

Last December, Trump threatened to raise tariffs on all BRICS nations to 100% if the alliance committed to creating a new currency or to another currency that would usurp the US dollar.

As stated by Trump at the time:

“The idea that the BRICS Countries are trying to move away from the dollar while we stand by and watch is OVER. We require a commitment from these countries that they will neither create a new BRICS currency, nor back any other currency to replace the mighty US dollar or, they will face 100% tariffs, and should expect to say goodbye to selling into the wonderful US economy.”

@ Newshounds News™
Source:  DailyHodl

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  3 NON-BRICS NATIONS HAD PLANNED TO LAUNCH OWN CURRENCY, WHAT HAPPENED?  

 Burkina Faso, Mali, and Niger’s Proposed Currency to Replace Dollar and Franc Fizzles Out

• Initial Ambition: In 2023, Burkina Faso, Mali, and Niger announced plans to launch a new regional currency, seeking independence from the US dollar and the French-backed CFA franc—symbols of their colonial past.

• Aims of the Currency: The initiative was positioned as a sovereignty move, part of broader efforts by the military-led Alliance of Sahel States (AES) to assert autonomy following a string of coups.

• No Follow-Through: Nearly a year later, no concrete updates or progress have been reported. Experts now doubt the viability of the project due to:

• Weak domestic currencies

• Limited institutional capacity

• Low international trust or demand for a new currency

• Rhetoric vs. Reality: Analysts argue the proposal was more symbolic than strategic, noting even larger economies like BRICS have struggled to create a rival currency to the dollar.

Implication: The stalled effort underscores how currency independence is a monumental task, requiring more than political will—especially for nations grappling with economic instability and weak global leverage.

@ Newshounds News™
Source:  Watcher Guru 

~~~~~~~~~

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“Tidbits From TNT” Sunday Morning 5-11-2025

TNT:

Tishwash:  The Parliamentary Legal Committee obliges the government to send budget tables.

Parliamentary Legal Committee member Aref Al-Hamami pointed out that "the government is legally obligated to submit the budget tables as soon as possible to ensure they are passed and voted on in Parliament before the end of the current legislative session."

In a press interview published by Al-Masry on Saturday, May 10, 2025, Al-Hamami warned that “continuing this delay will negatively impact vital projects across various sectors.”

He explained that "the government's delay in sending the budget tables to the House of Representatives constitutes a legal violation that threatens the stability of government work and disrupts the implementation of service and investment projects."

In the same context, he stressed that "any further delay in submitting these schedules could exacerbate the financial crisis and hamper public spending."  link

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Tishwash:  CBI: Iraq sees drop in foreign assets, domestic debt

 Iraq's Central Bank (CBI) reported a decline in net foreign assets and a slight decrease in domestic public debt for January 2025, according to new financial data released on Saturday.

The CBI’s monthly bulletin on financial and monetary indicators showed that foreign assets stood at 128.97 trillion IQD ($98.5B) in January, reflecting a 1.41% decrease compared to 130.18 trillion IQD ($99.5B) in December 2024, and a sharper drop from 140.77 trillion IQD ($107.5B) in January 2024.

Meanwhile, Iraq’s domestic debt dropped slightly to 80.4 trillion dinars in January 2025, compared to 80.5 trillion IQD ($61.45B) in December 2024. However, this figure still represents an increase from 73.25 trillion IQD ($55.9B) in January 2024.

“The decrease in domestic debt this January is primarily due to reduced borrowing by the Ministry of Finance,” the report clarified.

Data also showed that treasury bonds and discounted treasury transfers held by the Central Bank remained stable, indicating that the Iraqi government has started repaying part of its financial obligations.  link

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Tishwash:  The Central Bank of Iraq explains the reasons for the rise of the dinar against the dollar.

The Central Bank Governor explained the reason for the rise of the Iraqi dinar against the dollar.

Deputy Governor of the Central Bank, Ammar Hamad, said in a statement to the official newspaper that "this increase reflects the success of the monetary policy pursued by the bank in reducing reliance on the parallel market and providing safe and transparent sources of financing for foreign trade."

He explained that "this policy has enabled the commercial community to obtain dollars through official channels that adhere to international standards, without having to resort to the unregulated market."

Hamad pointed out that "the Central Bank continues to work towards consolidating the local banking system and raising its operational efficiency to levels that keep pace with international banking standards, making it a fundamental pillar in driving economic development in Iraq."  link

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

Tishwash:  An economist identifies the "most important reason" behind the dollar's decline in Iraq.

 Economist Nabil Al-Marsoumi said on Friday (May 9, 2025) that progress in the Iranian-American negotiations is the most important reason behind the rise in the exchange rate of the Iraqi dinar against the dollar.

Al-Marsoumi said in an analysis published and followed by Baghdad Today: "Although the rise in the dinar's exchange rate against the dollar is linked to many factors, I believe the most important reason is the progress in the Iranian-American negotiations."

He added, "If the negotiations lead to an agreement between Iran and the US, the exchange rate of the dollar against the dinar on the parallel market will be very close to the official rate between them."

The Iraqi dinar's exchange rate against the dollar has risen relatively over the past few days on the parallel market, while the official market rate has remained stable. The selling price for $100 reached 142,000 dinars.

The Prime Minister's financial advisor, Mazhar Mohammed Saleh, said in a press statement that demand for dollars declined for three main reasons: "The Central Bank's success in financing and encouraging small businesses immediately after lifting restrictions, and facilitating travelers' access to dollars via cards and at airports at the official exchange rate."  link

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Mot: Mother day plans

Mot and you thought You were busy   duck and ducklings

FRANK26…5-10-25….CALL ME…

KTFA

Saturday Night Conference Call

FRANK26…5-10-25….CALL ME…

Call starts about Minute 10:00

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

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

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

https://www.youtube.com/watch?v=Zt2v9PxoqFM

More News, Rumors and Opinions Sat. PM 5-10-2025

Ariel : This is What you were Waiting for Right?

The Red Rover:  24 hours ago!! IRAQ BUSINESS NEWS OFFICIAL List of approved banks Dinar to Dollars

Many Pilgrims live outside Iraq. But the reason why this is significant is this.

The Central Bank of Iraq’s (CBI) announcement on May 8, 2025, allowing pilgrims to exchange Iraqi dinars for U.S. dollars through designated banks and companies in Baghdad and other provinces, marks a significant step for American holders of Iraqi dinar awaiting its integration into global forex markets ([Iraq Business News]

(https://iraq-businessnews.com/2025/05/08/dinars-to-dollars-official-list-of-designated-banks/)).

This policy, while aimed at pilgrims, signals Iraq’s push toward formalizing and regulating foreign currency exchange, a critical prerequisite for the dinar’s potential internationalization. Something that we know will lead to what we ultimately want.

For U.S. (You & Me) investors holding dinars, who face high-fee money exchanges or black-market transactions due to the dinar’s absence from global forex platforms, per Investopedia, this move suggests progress in stabilizing the dinar’s exchange infrastructure.

By expanding access to dollars at official rates on a 1:1 basis, Iraq is testing mechanisms to curb black-market volatility, which could pave the way for broader currency tradability.

For those waiting to cash in, this development hints at a future where the dinar will be exchanged more seamlessly on international markets, potentially increasing its value and liquidity.

So all we have to do is wait for a couple of things. One being the oil exports resuming. This is something that is very close. Which is why Donald Trump Middle East trip is very important. We have to keep an eye on this.

These are the chosen banks that do not have any sanctions on them that will be allowed to handle international transactions/transfers once Iraq flips the switch. You are watching a controlled rollout.

This is a very calculated progressive move towards full international connectivity to global trade markets. Many banks have been blacklisted. The ones involved in money laundering and other nefarious things.

Source(s):  https://x.com/Prolotario1/status/1920992165343138229

https://dinarchronicles.com/2025/05/09/ariel-prolotario1-this-is-what-you-were-waiting-for-right/

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

Mnt Goat   Article:  "AS TRUMP’S VISIT TO THE REGION APPROACHES, IRAQ IS EXPECTED TO PLAY A ROLE IN THE ARAB SUMMIT IN BAGHDAD"    President Trump will be formally attending the Arab Summit in Baghdad soon. WOW, WOW, WOW!  Do you know the extent of good news this is?   I do not know if he intends to talk about the dinar reinstatement but this measure can certainly not be bad for Iraq, that is for sure.

Frank26  American banks are training their employees for us, IMO.

Militia Man  The landscape is about to change. It really is...This is a global event and you can't consider it as it's just about Iraq...It is about Iraq but it's not ALL about Iraq.  It's very important that you guys understand that...It's going to be a very intense time..I believe it's a global event.

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BREAKING NEWS: Dinars to Dollars CBI Announcement

Edu Matrix:  5-10-2025

BREAKING NEWS FROM IRAQ — The Central Bank of Iraq has just released an official update allowing *pilgrims to exchange Iraqi Dinar (IQD) for US Dollars (USD)* at selected banks and companies across Baghdad and other provinces. This is a significant step in Iraq’s evolving financial policy.

https://www.youtube.com/watch?v=4u22-suC5Lc

16,000 New Contracts Just Demanded Real Silver—COMEX Can’t Hide It Anymore | Andy Schectman

Two Dollars investing:  5-10-2025

Over 16,000 COMEX contracts just stood for physical silver delivery in the May contract—triggering the biggest post-first-day surge in history.

Andy Schectman breaks down what this record-setting delivery event really means, why it signals the end of paper silver manipulation, and how it's exposing a full-blown run on physical metal.

 With central banks hoarding gold, the Fed quietly buying treasuries, and Shanghai's exchange overtaking COMEX, we are entering a new era. Silver is becoming the pressure point. And if COMEX can’t meet the demand… it all breaks.

https://www.youtube.com/watch?v=_k4RnmLz_yQ

Thoughts From 589Bull 5-10-2025

Central Bank of Iraq Publishes List of Banks Exchanging Dinars for Dollars

589bull:   5-10-2025

The Central Bank of Iraq just published the official list of banks authorized to exchange dinars for dollars.

On the surface, it’s framed for pilgrims but in reality, it’s a test run for full-scale currency redemption.

These banks are the chosen channels.

This is how you prep for a rate shift without tipping off the masses.

Quiet infrastructure.
Controlled access.

When the rate moves, the switch is already wired

The Red Rover:  24 hours ago!! IRAQ BUSINESS NEWS OFFICIAL List of approved banks Dinar to Dollars

Source(s):  https://x.com/589bull10000/status/1921000311990161448

https://dinarchronicles.com/2025/05/10/589bull-central-bank-of-iraq-publishes-list-of-banks-exchanging-dinars-for-dollars/

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Lobbyist Tried to Slip XRP into Trump’s Crypto Strategic Reserve

589bull:   5-10-2025

BREAKING: A lobbyist just tried to slip XRP into Trump’s “Crypto Strategic Reserve” list and all hell broke loose.

This wasn’t just a bad tweet. It was a glimpse behind the curtain. And it tells us everything.

In March, Trump posted about a federal crypto reserve including:

• XRP
• SOL
• ADA

No BTC. No ETH.

The crypto world blinked but didn’t know why. Now we do.

Turns out Ripple was a client of the lobbyist (Brian Ballard) who pushed the post.

Trump didn’t know. When his team found out, the White House crypto czar (David Sacks) lost it. Chief of Staff Susie Wiles got involved. The post was revised.

Why the freakout?

Because XRP being in that list wasn’t just symbolic it was a threat to the current crypto order.

XRP isn’t a coin. It’s a rail. Infrastructure. Liquidity plumbing. Settlement protocol.

Putting it on the list meant admitting the new system is already forming.

They tried to walk it back. But the signal already leaked:

• XRP’s name is circulating at the highest levels.
• Ripple’s inside the lobbying machine.
• And the future financial system is being chosen now—not later.

Don’t miss what they tried to hide.

Source(s):   https://x.com/589bull10000/status/1920869323817570797

https://dinarchronicles.com/2025/05/10/589bull-lobbyist-tried-to-slip-xrp-into-trumps-crypto-strategic-reserve/

MilitiaMan & Crew: Iraqi Dinar News Update-United Nations-Arab Summit-$500 Billion Investment-Digital Banking

MilitiaMan & Crew:  Iraqi Dinar News Update-United Nations-Arab Summit-$500 Billion Investment-Digital Banking

5-9-2025

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=X4ABPJ-K5KA

Iraq Economic News And Points To Ponder Saturday Afternoon 5-10-25

The Central Bank Records A Decline In Net Foreign Assets

Saturday, May 10, 2025, Economics Number of reads: 159 Baghdad / NINA / The Central Bank of Iraq revealed a decrease in its net foreign assets, in addition to a slight decrease in domestic debt for January 2025.

The bank said in a report on financial and monetary indicators in Iraq, today: "The net foreign assets of the Central Bank for January 2025 amounted to 128.97 trillion dinars, a decrease of 1.41% compared to December of last year, which amounted to 130.180 trillion dinars, and a decrease from January of last year, which amounted to 140.77 trillion dinars."

He added: "The domestic public debt for January of this year decreased slightly to reach 80.4 trillion dinars, compared to December of last year, which amounted to 80.5 trillion dinars, and an increase from January of last year, which amounted to 73.25 trillion dinars."

According to the report, "the decline in debt for the month of January of this year is due to the decline in debt owed to the Ministry of Finance," noting that "bonds and discounted treasury transfers have settled at the Central Bank, which means that the government has paid part of its financial obligations." /End   https://ninanews.com/Website/News/Details?key=1225959

Minister Of Finance: ASYCUDA System Implemented In 15 Customs Centers, Increasing Revenues By More Than 59 Billion Dinars

Finance Minister Taif Sami announced that the General Authority of Customs has begun implementing the ASYCUDA customs automation system in 15 customs centers across Iraq, noting a significant increase in customs revenues after the implementation of the system.

Sami explained, in a statement on Saturday, May 10, 2025, that the centers covered include: Air Cargo Customs, Dry Port, Baghdad International Airport Terminal, Grand Welcome Square Customs, Trebil, Safwan, Arar, Middle Umm Qasr, Southern Umm Qasr, Kirkuk Airport, Zurbatiyah, Al-Mundhiriya, Mandali, Al-Sheeb, and Shalamcheh.

She explained that customs revenues before implementing the system amounted to three hundred and seventy-five billion, six hundred and seventy-five million, seven hundred and thirty-two thousand, three hundred and sixty dinars, while after implementation they increased to four hundred and thirty-five billion, four hundred and twenty-one million, six hundred and seventy-two thousand, eight hundred and five dinars, an increase of more than fifty-nine billion dinars.
https://www.radionawa.com/all-detail.aspx?jimare=41810

Basra Crude Records Weekly Gains

Saturday, May 10, 2025, | EconomicNumber of reads: 156   Baghdad / NINA / Basra Heavy and Medium crude oil recorded significant weekly gains of more than 2% with the return of oil prices rising in global markets.

Basra Heavy crude closed in its last session, yesterday, Friday, with an increase of $2.16 to reach $61.16, recording weekly gains of $1.24, equivalent to 2.07%.

Basra Medium crude closed in its last session with an increase of $2.16 as well, reaching $64.31, recording weekly gains of $1.24, or 1.97%.

Global oil prices rose $1.07, or 1.7%, to achieve weekly gains of 4%, or one dollar per barrel, amid expectations that trade talks between the United States and China will be positive for oil, as tariffs at their current maximum levels keep recession risks high. /End https://ninanews.com/Website/News/Details?key=1225887

The International Development Bank Launches The "Arab Tourist Card"

Banks   Economy News – Baghdad   The International Development Bank announced on Saturday the launch of the "Arab Tourist Card," in partnership with the Visit Iraq platform, to facilitate financial transactions for Arab tourists in Iraq.

A statement by the bank, seen by Al-Eqtisad News, stated that "the International Development Bank launched the "Arab Tourist Card" in partnership with the official platform Visit Iraq to facilitate financial transactions for Arab tourists in Iraq."

The statement added that "the launch of the "Arab Tourist Card" in Iraq was carried out in partnership between the International Development Bank and the national platform Visit Iraq to support tourism and enhance digital financial services.

" The statement continued, "the International Development Bank was chosen to exclusively offer the "Arab Tourist Card" in cooperation with the official platform Visit Iraq to support tourism and enhance digital financial services for visitors."  https://economy-news.net/content.php?id=55318

The Dollar Rose Slightly Against The Dinar In Baghdad And Erbil

Economy | 10/05/2025  Mawazine News – Baghdad  The US dollar exchange rate rose on Saturday morning in both Baghdad and Erbil markets.

It rose on the Al-Kifah and Al-Harithiya stock exchanges to 142,400 Iraqi dinars for every $100, while last Thursday it recorded 142,000 dinars for every $100.

Selling prices also rose in exchange shops in local markets in Baghdad, where the selling price reached 143,500 Iraqi dinars for every $100, and the buying price reached 141,500 dinars for every $100.

In Erbil, the dollar also rose, where the selling price reached 142,550 dinars for every $100, and the buying price reached 142,200 dinars for every $100. https://www.mawazin.net/Details.aspx?jimare=261245

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

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 5-10-25

Good Afternoon Dinar Recaps,

US SENATORS CRITICIZE DEMOCRATS FOR ‘PARTISAN POLITICS’ AMID STABLECOINS BILL FAILURE

In a negative development for the U.S. crypto industry, the highly anticipated stablecoins legislation failed to advance in the U.S. Senate after not receiving enough support from Senate Democrats. Several Republican senators have slammed the Democrats for putting “partisan politics above policy.”

Democrats Block Stablecoins Bill

On Thursday, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act failed to pass the cloture vote in the Senate. Only 49 senators voted to advance the bill, falling short of the 60-vote threshold required to end debate.

Notably, two Republican senators also voted against advancing the bill alongside Democrats.

In February, Senator Bill Hagerty introduced the GENIUS Act to create a framework allowing tokens like USDT and USDC to fall under Federal Reserve rules.

The bill, co-sponsored by Senators Tim Scott, Cynthia Lummis, Kirsten Gillibrand, and Angela Alsobrooks, was designed to establish a:

“safe and pro-growth regulatory framework that will unleash innovation and advance the President’s mission to make America the world capital of crypto.”

Despite being considered bipartisan, ten Senate Democrats expressed last-minute concerns on May 3, with four former supporters reversing their positions.

Their objections included:

• Missing AML (Anti-Money Laundering) and national security safeguards

• Ambiguous regulations that could expose crypto markets to abuse

Senator Elizabeth Warren took the strongest stance, urging rejection of the GENIUS Act. On May 4, she claimed the Trump family could benefit from World Liberty Financial’s USD1 stablecoin deal with MGX, a UAE-based firm.

This deal involved a $2 billion investment linked to Binance and WLFI’s stablecoin, which Warren said would “enable this type of corruption.”

US Senators Call Out ‘Political Gamesmanship’

Senator Tim Scott, a co-sponsor of the bill and Chairman of the Senate Banking Committee, denounced the opposition on May 8:

“It should have been a historic day for Americans (...) Instead, we witnessed a disappointing display of political gamesmanship that puts partisan politics above policy, and obstruction above innovation.”

Scott insisted the shift wasn't about the bill’s content, but a political move against President Trump and his legislative goals.

Senator Lummis echoed this on X:

“Make no mistake, digital assets are the future and America must lead the way.”
“It’s important that we continue moving digital asset legislation forward that preserves America’s dollar dominance and makes America the crypto capital of the world.”

Bessent Blasts Missed Opportunity

Treasury Secretary Scott Bessent also weighed in, saying the world needs American leadership for stablecoins and digital assets to thrive.

“Without it, stablecoins will be subject to a patchwork of state regulations instead of a streamlined federal framework.”
“The world is watching while American lawmakers twiddle their thumbs. Senators who voted to stonewall U.S. ingenuity today face a simple choice: Either step up and lead or watch digital asset innovation move offshore.”

@ Newshounds News™
Source:  Bitcoinist

~~~~~~~~~

BLACKROCK, CRYPTO TASK FORCE DISCUSS ETP STAKING, TOKENIZATION

Staking for Ether ETFs has been one of the hot topics in 2025, with Grayscale and Fidelity both filing for rule changes that would allow this staking functionality.

Wall Street giant BlackRock recently met with the SEC’s Crypto Task Force to discuss two key areas:

1. Staking within crypto exchange-traded products (ETPs)

2. Tokenization of securities

These discussions could significantly advance institutional interest in crypto markets.

ETP Staking and SEC Conversations

According to a May 9 memo published by the task force, BlackRock initiated the meeting to:

“[d]iscuss perspectives on treatment of staking, including considerations for facilitating ETPs with staking capabilities.”

BlackRock has emphasized that while Ether ETFs have seen success, they are less effective without staking.

Other ETF issuers echo this sentiment. On Feb. 15, the New York Stock Exchange proposed a rule change to enable staking services for Grayscale’s spot Ether ETFs.

In April, the SEC delayed its decision on this proposal. As it stands, BlackRock and Grayscale remain behind the largest Ether ETFs by market cap, according to Sosovalue.

Proof-of-stake blockchains allow users to lock their tokens to earn yield. If the SEC approves staking for Ether ETFs, this could pave the way for similar requests for altcoins, including Solana ETFs.

Tokenization Also in Focus

In addition to staking, BlackRock addressed the tokenization of securities within the federal securities regulatory framework.

Securities include stocks and bonds—assets where investors expect monetary gain. Tokenization offers several benefits:

• Faster settlement times

• Lower costs vs. traditional finance infrastructure

• 24/7 market access

BlackRock already runs a tokenized U.S. federal debt fund called BUIDL, which is currently the largest of its kind, with a $2.9 billion market cap.

Other players include Franklin Templeton, whose BENJI fund also tokenizes securities.

Robinhood Enters the Game

Meanwhile, brokerage firm Robinhood is exploring tokenization as well. It is reportedly working on a blockchain solution to allow European retail investors to trade U.S. securities such as stocks.

@ Newshounds News™
Source:  CoinTelegraph

 ~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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News, Rumors and Opinions Saturday 5-10-2025

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.

RV Excerpts from the Restored Republic via a GCR: Update as of Sat. 10 May 2025

Compiled Sat. 10 May 2025 12:01 am EST by Judy Byington

The Deepstate Cabal had been functioning on stolen US Taxpayer monies since taking control of the US Financial System in 1918. They had run the nation into severe debt and a fiat US Dollar. Finally the election of President Donald Trump signaled an end to their reign over the World’s monetary system.

Trump’s April 10 2025 Executive Order had (allegedly)  transferred all Fed assets to the U.S. Treasury, triggered full deployment of the Quantum Financial System, launched GESARA debt cancellations worldwide & officially(allegedly dismantled the privately owned by the Cabal Federal Reserve and IRS. Redemption Centers would exchange foreign currencies that went up in value were now active in secure locations worldwide.

~~~~~~~~~~~~~~~

What We Think We Know as of Sat. 10 May 2025:

Fri. 9 May 2025: BRICS just launched BRICS Pay to obliterate the petrodollar. They’re dumping the dollar, trading in national currencies, and setting up a new system outside of globalist control. Expect a Financial Crisis before Mon. 12 May 2025. …Steve Bannon on Telegram

As of 8 May 2025, the greatest financial transition in modern history (allegedly became operational. Trump’s April 10 Executive Order transferred all Fed assets to the U.S. Treasury, triggered full deployment of the Quantum Financial System, launched GESARA debt cancellations worldwide & officially (allegedly dismantled the Federal Reserve. Redemption Centers were now active in secure locations worldwide.  …Quantum Financial System on Telegram

~~~~~~~~~~~~~

Possible Timing:

As of Thurs. 1 May 2025 the fiat banking system was DEAD. The media, lying. The Cabal’s grip, broken. Redemption Centers, active and gold-backed funds were being distributed globally through the Quantum Financial System (QFS) — the final weapon in a military war against centuries of elite rule.

On Tues. 6 May 2025 Newsmax President Trump announced the gold-backed Bitcoin, “An earth shattering announcement that will affect America and it’s people.”

Global Currency Reset:

Fri. 9 May 2025 This is a countdown. The trigger event, code-named 11.3, is (allegedly locked and ready: full blackout, mass awakening, and total takedown of the Deepstate. Liberty Channels are prepped and untraceable. The final warning will not come from a screen — it’ll come from the silence that follows. And when it does, you’ll know: the final liberation is no longer a dream. It’s now. It’s real. And it’s irreversible. Stay alert. Stay aligned. The system is falling — and QFS is taking its place. …Quantum Financial System on Telegram

Fri. 9 May 2025 UPDATE! QFS Is Replacing the Banking System—Redemption Centers Are Secure and Processing Gold-Backed Payments—Banks Are Desperately Freezing Accounts, Blocking Access to Your QFS Funds, and Spreading Media Lies to Keep You Trapped in the Dying Fiat System! – Gazetteller

https://gazetteller.com/update-qfs-is-replacing-the-banking-system-redemption-centers-are-secure-and-processing-gold-backed-payments-banks-are-desperately-freezing-accounts-blocking-access-to-your-qfs-funds/

~~~~~~~~~~~~~~~

Global Financial Crisis:

Fri. 9 May 2025: Operation Sandman was in effect – a collaboration of 100 nations to simultaneously sell off their US holdings in order to collapse the US Dollar: (1) Bendleruschka on X: “OPERATION SANDMAN! Let’s go!! WOW!!! https://t.co/VFrnkNdGFp” / X

Read full post here:  https://dinarchronicles.com/2025/05/10/restored-republic-via-a-gcr-update-as-of-may-10-2025/

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

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

Frank26   [Iraq boots-on-the-ground report]  FIREFLY:
TV is showing a significant decline in the dollar in the parallel market again.  The parallel market is now down to 1427.  Whoa!  Sammy says to expect probably soon, that rate will be 1390 and close enough to close that [gab between official rate] completely out.  FRANK:  Wow!  That's fantastic news gentlemen.  That's closer than we estimated for this coming week.  That gap as it gets smaller and smaller, sooner or later we will have our new exchange rate because when it closes to a point where it will be able to at least come out at one to one then that's what we're looking for.

Mnt Goat   ...good news...Article:   “THE DINAR IS RECOVERING. THE DOLLAR’S VALUE IN IRAQ HAS FALLEN DUE TO LOCAL MEASURES.”  ...Exchange offices and the local stock exchange in most Iraqi governorates recorded a decline in the dollar exchange rate against the Iraqi dinar on Tuesday, part of a slight and gradual decline that has been ongoing for days. This decline has been going on for weeks not days...  [Dinar Guru Note:  A falling dollar vs the IQD is what dinar investors want to see.]

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

US Bankruptcy Will Alarm The Public | Peter Grandich

Liberty and Finance:  5-9-2025

Peter Grandich expresses deep concern about the long-term economic stability of the United States, particularly due to rising inflation and the ballooning national debt.

He warns that while the stock market may not face an immediate crash, it lacks the potential for above-average returns that many financial plans still rely on, creating serious risk for overextended households.

Grandich also argues that inflation is far worse than official reports suggest, eroding real purchasing power and making cash holdings a risky strategy. He advocates strongly for gold and now silver as wealth preservation tools, citing their historical resilience and growing relevance in a shifting global financial landscape.

Most critically, he foresees a future where the U.S. government may struggle even to pay interest on its debt—a scenario he believes is approaching much faster than most Americans realize.

INTERVIEW TIMELINE:

 0:00 Intro

1:31 Market rally is over

12:00 Inflation & gold

15:30 Mining stocks

17:30 Inflation's impact

https://www.youtube.com/watch?v=QaNCP2kW3fw

Weekend Coffee with MarkZ. 05/10/2025

Weekend Coffee with MarkZ. 05/10/2025

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

MZ:  We spend the first 45 minutes cutting up with Matt and Lucas at CBD Guru’s. Then we hit the news

Member: Good Morning Mark, MODS and RV family…..sending love and positive energy to all

Member: Happy Mother's Day to all the Moms out there.

Member: Are you hearing anything from bond folks yet Mark?

MZ: I’m hearing form certain members of Indian Nations that some are being notified to expect it soon. Others however, are hearing nothing. It seems like the closer we are to the Admirals group…..the less they are sharing….the less they want us to know…. I am hearing very mixed stories .

MZ: Makes it interesting as they try to keep a lid on things moving forward.

MZ: On the bond side they are being told they are working diligently on “historic assets” not the bonds…but they are busy clearing those out now. It is possible they have positioned everything to go all at once…..giving everybody enough dollars to keep them at the table….then unleash all payments at once. .

MZ: We do have some good things to share on the “Arab Summit” coming up. Saleh is taking victory laps for the modernization of their banking system.

MZ: CBI released a list late last night about all the Iraqi banks that are now approved for “International Transactions” To me these transactions do not make sense without an “International Dinar”

MZ: We continue to read stories on the de-dollization and the stabilization of the dinar….  All of this is important for the revaluation of the dinar.

MZ: Sudani and Alaq call it “Raising the purchasing power of all Iraqis” There really is great news coming out of Iraq.

Member: Mark , Vietnam is coming here tomorrow for the US Summit May 11th - 14th.. They are anxious for a seat at the table . IMO- They are ready to revalue their currency!

Member: Did anyone else hear the new tax proposal for no income tax on people under $250K and higher taxes on the “rich” … over $250k?

Member: do you think we wont go until June Mark?

MZ: I don’t think so …but nobody knows the exact timing. There sure is a lot happening right now though.

Member: So did Trump ever have his big “earth shattering” announcement?

Member: Rumor is- a guy from middle east said trump will have major announcement Monday

Member: Lots of rumors that the RV and Nesara has already started….I’m not seeing it though?

Member: There is a rumor that there will be daily limits on exchanges due to liquidity….Is it possible to exchange all our currency in one appointment?

MZ: I do believe we can exchange at one appointment. It may be “tiered” but I was told they are doing Prosperity Packages and Historic Bonds so there is enough liquidity that we will not have to wait. But I can see it- if there is not enough liquidity and they don’t want to wait to move forward…

Member: Hope everyone has a wonderful “Mothers Day” Weekend. God bless moms  and grandmas everywhere.

Member: Remember , The best is yet to come.

Mod:  ENJOY YOUR TIME WITH FAMILY MARK! HAVE A SAFE TRIP HOME…. HAVE A GREAT WEEKEND ALL SEE YOU BACK MONDAY

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

https://www.twitch.tv/theoriginalmarkz

https://rumble.com/user/theoriginalmarkz

Kick:  https://kick.com/theoriginalmarkz

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.

THANK YOU ALL FOR JOINING. HAVE A BLESSED WEEKEND! SEE YOU ALL MONDAY MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

FROM NOW ON NO MORE NIGHTLY PODCASTS ON MONDAYS AND FRIDAYS

Youtube:     https://www.youtube.com/watch?v=dxW1q8gsyWI

Iraq Economic News And Points To Ponder Saturday Morning 5-10-25

An Economist Identifies The "Most Important Reason" Behind The Dollar's Decline In Iraq

Buratha News Agency1512025-05-09   Economist Nabil Al-Marsoumi said on Friday (May 9, 2025) that progress in the Iranian-American negotiations is the most important reason behind the rise in the exchange rate of the Iraqi dinar against the dollar.

Al-Marsoumi said in an analysis he published, "Although the rise in the dinar's exchange rate against the dollar is linked to many factors, I believe the most important reason is the progress in the Iranian-American negotiations."

He added, "If the negotiations lead to an agreement between Iran and the US, the exchange rate of the dollar against the dinar on the parallel market will be very close to the official rate between them."

The Iraqi dinar's exchange rate against the dollar has risen relatively over the past few days on the parallel market, while the official market rate has remained stable. The selling price for $100 reached 142,000 dinars.

The Prime Minister's financial advisor, Mazhar Mohammed Saleh, said in a press statement that demand for dollars declined for three main reasons: "The Central Bank's success in financing and encouraging small businesses immediately after lifting restrictions, and facilitating travelers' access to dollars via cards and at airports at the official exchange rate."  https://burathanews.com/arabic/economic/459908

The Dollar's Exchange Rate Is Stabilizing Towards Its Target: Adaptation Or Adjustment?

Dr. Haitham Hamid Mutlaq Al-Mansour   It became clear in the period from last April until this May that the dollar exchange rate in Iraq began to stabilize, declining towards the (official) target level. Therefore, a question may be raised in this context: Is this stability the result of “adaptation” or “adaptation”?

To answer this question, we examine the reality of monetary policy measures that strengthened the foreign exchange signal's response to the downward trend, which can be described in the following paragraphs:

1. The Central Bank's restrictive policy of controlling dollar sales to banks through transparency measures for transfers of unclear origin aimed at combating smuggling. This increased the official supply and eased pressure on the exchange rate.

2. The effectiveness of monetary policy in financing foreign trade through highly rated correspondent banks, within the framework of the US Treasury and Federal Reserve's conditions. This is in addition to the trend toward settlement in euros, yuan, and UAE dirhams, which has facilitated remittance transactions in our trade with China, Turkey, and the UAE.

3. Added to this is the decline in demand for the dollar due to the increased level of banking compliance with international conditions on dollar transfers to prevent their smuggling to Iran, Syria, and Turkey via Iraq. As a result, suspicious transfers have decreased, and illicit demand for dollars has declined, contributing to the stability of the dollar exchange rate.

4- The effectiveness of the Central Bank’s foreign reserves management to compensate for the decline in the dollar supply in the parallel market, thus curbing the exchange rate towards the target.

5- The effectiveness of the inflation targeting policy led to a slowdown in the rise in the general price level (inflation) in Iraq, which limited the phenomenon of dollarization and raised the real value of the dinar.

6- Decline in speculation in the parallel market. Following the regulatory measures, the activity of unlicensed money changers and speculators who artificially raised prices declined.

7- The effectiveness of financing travelers in dollars through the official rate using payment cards at reduced costs and at the official exchange rate of 1320 dinars per dollar, in addition to collecting cash dollars through Iraqi airports, in the amount of 3000 dollars at the official rate for each traveler per month who carries an electronic payment card.

8- External international factors related to a general weakness in purchasing power in global markets and a decline in stocks, which caused a decline in the value of the dollar and a rise in gold, leading to a decline in demand for it globally and locally.

From the above-mentioned reasons, we find that exchange rate stability, despite its importance as a short-term objective of monetary policy, was achieved through “adjustment,” i.e., a short-term price adjustment trend resulting from short- or medium-term measures and treatments for exchange rate fluctuations.

The aim was to restore temporary economic equilibrium without changing the basic structure of the economy and without deep-rooted long-term policies, which reduces the effectiveness of targeting the exchange rate at the long-term target level. Stability could have been achieved as a result of long-term structural “adjustment” by following long-term policies as follows:

1- Decrease in demand for the dollar due to the availability of agricultural or industrial GDP revenues as a substitute for imports.

2- Improvement in the balance of payments thanks to non-oil agricultural and industrial exports.

3- Structurally reforming the banking system and activating the role of monetary tools, especially the interest rate structure, in a way that restores the overall balance to its natural state without a split between what is real and what is monetary.

4. Reducing rentierism by diversifying the economy through allocating resources based on foreign trade to generate national surplus value. The result: more sustainable stability, as the economy becomes less dependent on external factors.

If the current balance remains in place, the dollar supply will still be vulnerable to depletion within a year of imports if oil exports cease due to wars and threats, for example, or if the economy is exposed to similar external shocks. Furthermore, reliance on reserve management and other stringent measures will not be sufficient to ensure long-term exchange rate stability.

In conclusion, while ensuring that the exchange rate stabilizes near its target level is a significant achievement for monetary policy, the absence of structural reforms, economic diversification, improving the business environment, combating corruption, and other factors will make any exchange rate stability vulnerable to reversal, particularly with oil price fluctuations, political crises, and external shocks. This underscores the importance of planning for long-term structural adjustment at the macroeconomic policy level.    https://economy-news.net/content.php?id=55289

The Central Bank Announces More Than 41 Billion Dinars In Fines Against Banks And Companies

Buratha News Agency1762025-05-09  The Central Bank of Iraq announced on Thursday that the value of fines imposed on banks and non-banking institutions, including exchange companies, amounted to more than 41 billion dinars during the first three months of the current year.

 According to a table issued by the bank, the fines imposed on these entities from January to the end of March amounted to 41 billion, 268 million, 578 thousand and 75 dinars, noting that this value decreased compared to the same period last year, which recorded fines amounting to 138 billion, 377 million, 321 thousand and 527 dinars.

The bank explained that the fines were accompanied by 54 administrative penalties, including warnings, notices, and grace periods, and were distributed to a number of banks and non-banking financial institutions.

The table also showed that March saw the highest value of fines, amounting to 28 billion, 759 million, 847 thousand, and 795 dinars, with 14 administrative penalties, while February recorded the lowest value of fines, approximately 4 billion, 628 million, 140 thousand, and 368 dinars, despite witnessing the highest number of administrative penalties, with 25 penalties.

The table did not mention the names of the banks or companies that were subject to fines and administrative penalties.   https://burathanews.com/arabic/economic/459899

Gold Rises Amid Buying And Anticipation Of US-China Trade Talks

Friday, May 9, 2025 12:39 | Economic Number of reads: 185   Baghdad / NINA / Gold prices rose on Friday as investors rushed to buy the precious metal after its earlier decline, while markets awaited US-China trade talks scheduled for early next week.

By Friday morning, spot gold rose 0.3% to $3,316.29 per ounce. US gold futures rose 0.5% to $3,321.60.

Spot gold fell about 2% yesterday to $3,274.38 after US President Donald Trump announced a trade deal with Britain, according to Reuters.

The agreement maintains a 10% tariff on goods imported from Britain, while Britain agreed to reduce its tariffs from 5.1% to 1.8% and further open its market to US goods.

Trump also stated that he expects the United States and China to hold substantive trade negotiations early next week and that the 145% tariff imposed on Beijing is likely to be reduced.

Several Federal Reserve officials are scheduled to speak later today to offer further insights on the economy and the central bank's policy path.  The Fed held interest rates steady on Wednesday and warned of rising inflation and unemployment risks.

Among other precious metals, spot silver was steady at $32.48 an ounce. Platinum rose 0.5% to $980.55, and palladium gained 0.2% to $978.21. https://ninanews.com/Website/News/Details?key=1225718

An Expert Sounds The Alarm: The Monopoly Of Foreign Banks Operating In Iraq Over Remittances Must Stop Immediately.
 
May 9, 2025   Baghdad/ Iraq Observer  The expert on financial and banking, Mustafa Hantoush, said that the control of Jordanian and Gulf banks on Iraqi remittances, is something that cannot be tolerated, ignored or continued, and needs immediate and rapid treatment from the Central Bank of Iraq.
 
Hantoush expressed in an interview with Iraq Observer that "the remedies that require the Central Bank to take towards this file are almost non-existent,"
 
calling for the need for 

the Central Bank to conduct a detailed study to review the financial situation in the country by creating a policy to strengthen Iraqi banks at the expense of foreign."
 
"At the very least, it is possible for Iraqi foreign banks to participate and be dealt with Iraqis in conjunction with the work of radical steps to develop monetary policy," pointing out that
 
"as long as convictions are directed towards not developing the banking system in Iraq,

it is difficult to control the work of those banks during their foreign dealings on behalf of Iraqi banks."
 
Experts and specialists have long criticized foreign banks operating in Iraq, in that they
 
     do not provide development plans, especially in poor areas in Iraq, but

     focus their activity in commercial areas where traders are present for the purpose of foreign transfers, and 
foreign banks operating in Iraq

     do not provide real electronic applications that serve citizens and

     do not contribute to vital projects such as oil banks.
 
Thus, all international banks operating in Iraq
     are linked to the American correspondent bank and
     their activity is centered on making profits from remittances and
 
when the remittances are closed,
     their branches are closed and
     returned with profits to their countries.    
  
https://observeriraq.net/خبير-يدق-ناقوس-الخطر-احتكار-المصارف-ال/ 

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

Seeds of Wisdom RV and Economic Updates Saturday Morning 5-10-25

Good Morning Dinar Recaps,

SEC MOVES TO END RIPPLE CASE AS COMMISSIONER REBELS: $75M RETURNS TO XRP GIANT

The SEC Ripple lawsuit has just reached a pivotal turning point as the Securities and Exchange Commission recently filed a motion seeking court approval for a settlement with Ripple Labs. Under the proposed deal that’s currently being reviewed, Ripple would recover $75 million of the $125 million that was held in escrow, while the SEC would receive the remaining $50 million.

Ripple’s $75M SEC Settlement: What It Means for XRP and Crypto Regulation

The SEC Ripple lawsuit settlement marks what appears to be the potential end to a legal battle that first began back in December 2020. As per the May 8 court filings, both parties have agreed to withdraw their appeals, virtually ending one of the most important and keenly followed cases in crypto regulation news.

Commissioner’s Opposition Reveals SEC Division

Not everyone at the SEC supports the resolution. Commissioner Caroline A. Crenshaw issued a public dissent:

“This settlement is a tremendous disservice to the investing public.”

Crenshaw warned that the SEC Ripple lawsuit settlement could weaken the agency’s enforcement power and negatively impact future XRP price prediction analyses in unexpected ways.

XRP’s Market Struggle During Litigation

The XRP lawsuit impact was immediate and significant when the case began. According to the crypto analyst behind the account All Things XRP:

“It didn’t just slow XRP down — it stole years of growth.”

While Bitcoin and Ethereum surged during the 2021–2023 bull market, XRP stagnated between approximately $0.30–$0.50, missing out on substantial gains and altering many XRP price predictions at the time.

Settlement Terms and Future Implications

The SEC Ripple lawsuit resolution preserves Judge Torres’ 2023 ruling that only institutional XRP sales violated securities laws. This legal distinction remains critical for ongoing crypto regulation news and Ripple’s future operations.

If the $125 million penalty clears the court in the next few days:

• $75 million would be returned to Ripple

• $50 million would remain with the SEC

This result may provide badly needed regulatory clarity and underscore the lasting effects of prolonged litigation on XRP price forecasts and broader digital asset regulation.

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

US TREASURY SECRETARY BESSENT LAMBASTS SENATE FOR BLOCKING STABLECOIN BILL, CALLS IT ‘MISSED OPPORTUNITY’ FOR AMERICAN LEADERSHIP

▪️ U.S. senators voted Thursday to halt progress on a stablecoin regulation bill amid escalating tensions over President Donald Trump’s crypto involvement.

▪️ Treasury Secretary Scott Bessent said American leadership is needed for stablecoins and other digital assets to thrive globally, lambasting the Senate’s “missed opportunity.”

U.S. Treasury Secretary Scott Bessent lambasted the Senate's decision on Thursday to halt the progress of the GENIUS Act amid rising tensions over President Trump's increasing crypto involvement and concerns about specific aspects of the proposed stablecoin bill.

"For stablecoins and other digital assets to thrive globally, the world needs American leadership," Bessent posted on X. "The Senate missed an opportunity to provide that leadership today by failing to advance the GENIUS Act."

Secretary Bessent described the bill as a "once-in-a-generation opportunity" to expand dollar dominance and boost U.S. influence in financial innovation. He argued that without such legislation, stablecoins will remain governed by a fragmented set of state rules rather than a unified federal approach that better supports growth and global competitiveness.

"The world is watching while American lawmakers twiddle their thumbs," Bessent said. "Senators who voted to stonewall U.S. ingenuity today face a simple choice: Either step up and lead or watch digital asset innovation move offshore."

A not-so-brilliant delay for the GENIUS Act

The Senate Banking Committee earlier voted to advance the GENIUS Act in March. The bill requires:

• 100% reserve backing with U.S. dollars and similarly liquid assets

• Annual audits

• Prohibits foreign issuance in the country

The Senate voted 49-48 against the bill in its current form on Thursday, with Sens. Josh Hawley (R-Mo.) and Rand Paul (R-Ky.) joining Democrats in opposing the procedural vote.

While the GENIUS Act bill resulted from bipartisan negotiations, Democrats recently raised concerns about unfinished bill text, foreign issuer oversight, and anti-money laundering provisions.

Senator Mark Warner (D-Va.) said he couldn't support legislation that wasn't yet finalized. Senate Majority Leader John Thune (R-S.D.), despite also voting no, said he did so to allow the bill to be reconsidered later, criticizing the Democrats amid multiple revised versions:

"I just have to say, frankly, I just don't get it," Thune said. "I don't know what more they want."

Tensions deepened as Trump’s personal and financial ties to crypto — including memecoin launches, $1.5 million-per-plate crypto fundraisers, and backing DeFi project World Liberty Financial — sparked accusations of conflict of interest ahead of the vote.

Some Democrats, including Rep. Maxine Waters (D-Calif.), also boycotted a crypto-focused House hearing this week, citing the president's direct crypto holdings and influence over agencies. The House Financial Services Committee also recently voted to advance a similar bill, the STABLE Act, with anti-money laundering and reserve requirements.

@ Newshounds News™
Source:  The Block

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Thank you Dinar Recaps