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

British And French Companies Compete With China In Energy Projects In Iraq
 
Energy   Economy News - Follow-up   A report by the American energy news website, Oil Price, discussed the recent progress of two international Western companies to develop oil and gas fields in Iraq, indicating the return of Western companies to compete with Chinese dominance in the energy sector in Iraq, at a time when the British Petroleum Company will develop the Kirkuk oil field, while an agreement was reached with the French Total Company for an accelerated gas investment project in the Artawi field with a capacity of 50 million cubic feet per day.

The report states that China has invested huge sums in energy and construction projects in Iraq since 2013 under the Belt and Road Initiative and the Iraq-China Framework Agreement to implement projects in exchange for oil equipment and expand its activity across 34 oil and gas fields across the country that it won in licensing rounds that Western companies were absent from.

Today, BP is prominent in the scene, having agreed with the Iraqi side on December 19 on the final terms for developing the giant Kirkuk oil fields in northern Iraq, which contain an estimated 9 billion proven barrels of oil reserves. For BP, the site will complement its share in the giant Rumaila field.

The Kirkuk and Rumaila oil fields, whose production constitutes 80% of Iraq’s combined oil production, require continuous water pumping projects to maintain production. Reports indicate that the British company’s preparations for work in the field have been completed and it is expected to start the field development project by the end of this January.

The report quoted a source in the North Oil Company as saying that while the company has submitted an initial plan that includes completing the survey work and preparing the wells that have decreased in production, the agreement between the oil company and the British company to develop the Kirkuk fields will come into effect by the end of this month.

As for the French company Total, it has started work on the long-delayed $27 billion energy project in Iraq, as it has begun building a gas processing plant in Iraq in the Artawi field in Basra, which is the first phase of a huge deal for several energy projects, with the production capacity to process 50 million cubic feet per day, which is enough to supply at least 200,000 housing units in Basra.

In May of last year, the French energy company Total reached an agreement with the Iraqi government to begin work on the delayed $27 billion energy project. The company had initially signed a deal with Iraq in 2021 to build and complete four oil, gas and renewable energy projects in southern Iraq over 25 years at an initial investment rate of $10 billion.

However, this huge project has faced obstacles due to disagreements between Iraqi political parties over the terms of the deal, which led to its postponement. However, in the end, Iraq agreed to a 30% lower share in the project, which moved the deal back, opening the door to attracting foreign investment back to the country.

In recent years, Western companies such as the American company Exxon Mobil, the Dutch company Shell, and the British company British Petroleum have returned to Iraq to implement oil and gas field development projects in Iraq, which will contribute to increasing production rates after years of instability. Another factor that encouraged Western companies to come to Iraq is the relative security stability that the country is experiencing, which has doubled the chances of foreign investment to return.

Total CEO Patrick Pouyanne said in press statements, "The Iraqi government has confirmed all the terms of the agreement and there are no amendments, and this is more than good news for me."

Meanwhile, Iraq is expected to resume oil exports via the Iraq-Turkey Ceyhan pipeline to the Mediterranean coast. Oil exports through this pipeline, which amount to 450,000 barrels per day, have been halted since Turkey closed the pipeline on March 25, 2023, in response to a French international dispute settlement court ruling that Iraq be compensated $1.5 billion for oil exports without Baghdad’s knowledge.  223 views  Added 01/13/2025 - https://economy-news.net/content.php?id=51892

"Al-Eqtisad News" Publishes The Full Decisions Of The Cabinet Session

Money and business   Economy News – Baghdad  Al-Eqtisad News publishes the full decisions of the second Cabinet session, which was held today, Monday, headed by Prime Minister Mohammed Shia Al-Sudani.

The Prime Minister's Media Office said in a statement, seen by "Al-Eqtisad News", that "Al-Sudani chaired, today, Monday, the second regular cabinet session of the current year, during which the general conditions in the country were discussed, important files and priorities of the government program were discussed, in addition to discussing the topics included on the agenda and taking the necessary decisions regarding them."

The statement added, "The Council of Ministers voted to exempt retirees from its decision No. (24888) regarding deducting (1%) of salaries to support (Gaza and Lebanon) retroactively, starting from the date of its issuance on November 24, 2024, and to recover the deducted amounts, due to the difficulty of retirees submitting requests for their unwillingness to donate, unlike employees who can submit requests through their departments, and all deducted amounts will be returned."

He explained that "within the government's measures in the environmental field, the Council of Ministers approved the recommendations of the report on treating air pollution and the spread of bad odors, which was prepared by the Ministry of Environment, as follows:

First: Immediate recommendations, including:

1. Strengthening human resources and logistical infrastructure in the environment directorates, rehabilitating air quality monitoring stations in Baghdad and the governorates, establishing the nucleus of a national center for handling, processing and linking monitoring stations and emission sources, and providing supporting portable devices.

2. Securing the necessary funding to support regulatory activities, establishing a sustainable funding mechanism to support the Ministry of Environment, and allocating part of the state’s general budget to strengthen the environmental inspection system.

3. Polluting activities provide efficient control systems for the polluting emissions resulting from them, provide environmental requirements, and adhere to applicable environmental legislation.

4. Coordination between security and environmental agencies to develop a long-term plan to ensure continued monitoring and closure of violating activities.

5. Using the best available technological solutions to improve fuel combustion efficiency in activities.

6. Participation of security agencies with technical teams to monitor irregular industrial activities that pollute the air, and take legal action against them.

Second: Medium and long-term recommendations, which included:

1. Preparing an integrated national program to address air pollution, analyze data, review legislation, estimate health impact, and calculate damage costs, with the participation of relevant parties to achieve sustainable goals.

2. Providing industrial and service activities with fuel treated with a low sulfur content within standard specifications to reduce emissions to the permissible limits.

3. Updating environmental laws and legislation to include the mandatory application of modern technologies in industrial facilities, and developing comprehensive national action plans to reduce air pollution.

4. Supporting scientific studies and research to identify pollution sources and their effects, and developing emission treatment solutions.

5. Afforestation, protection of natural areas and increasing green spaces.

6. Proper waste management, establishing regular landfill sites, encouraging waste recycling, achieving zero waste, setting strict policies, implementing alternative waste management technologies, and raising awareness of environmentally friendly practices.

He added that "the Council approved the recommendations of the minutes of the meeting of the Diwani Order Committee (23577) regarding the appointment of educational supervisors and specialists, which stipulate the appointment of specialist and educational supervisors who are graduates of the (Peace, Construction, Creativity and Challenge Course), provided that the deletion and creation are carried out by the Ministry of Finance according to the data sent by the Ministry of Education."

He pointed out that "the Ministries of Education and Finance are preparing the criteria for those accepted from among the applicants for work in educational and specialist supervision, based on separating the job grade from the job title."

In order to find a legal formula for the homes of squatters, the Council of Ministers approved the following:

1. The Mayor of Baghdad and the governors shall sell the properly divided residential lands owned by the competent municipality to the squatters who built residential buildings on them before December 10, 2024 (the date of determining the residential units by the population census committees), located within the boundaries of the basic design, as an exception to the public auction, in accordance with the Law on the Sale and Lease of State Property No. (21 of 2013) as amended.

2. The sale referred to in paragraph (1) above requires the following:

A- The land must be within the boundaries of the basic design.

B- Building from fixed structures.

C- Sale to the actual occupant of the property or his heirs whom he was legally responsible for supporting.

D - To submit an application to the Municipality Directorate within 180 working days from the date of issuance of the regulations by the Ministry of Construction and Housing.

E- The application must be accompanied by a written declaration certified by a notary public stating that the applicant, his spouse, or any of his minor children do not own a residence or a residential plot of land.

And - that the sale be for a real consideration estimated by an appraisal committee formed pursuant to Law No. 21 of 2013, as an exception to the public auction.

Z - The sale price shall be paid in accordance with the provisions of the above law.

3. It is not permissible to sell more than one piece to the applicant for ownership, and Kirkuk Governorate is not included in the provisions of this decision.

4. The committees formed in the Baghdad Municipality and the governorates, in accordance with Legislative Resolution No. (154 of 2001), shall assume legal responsibility for removing encroachments on municipal lands after the issuance of this resolution.

Within the banking reform procedures, the following was approved:

1. Establishing a new joint-stock bank that relies on the latest technologies, and aims to be a partner with companies and businessmen, whether inside or outside Iraq, and to provide financial and banking services to individuals through an integrated digital experience, and to be a leading bank at the regional level.

2. Naming the bank as the First Rafidain Bank.

3. The bank’s capital shall be (1) trillion Iraqi dinars, and the state’s contribution (government sector, public sector and individuals) shall be (24%) of the nominal capital.

4. The bank shall start with a paid-up capital of no less than (500) billion dinars.

5. Maintaining Rafidain Bank as a financial and basic gateway for implementing all government transactions, while continuing to work on its structure with Rashid Bank through a roadmap for developing Rafidain Bank in coordination with the contracted consulting company, Ernst & Young.

6. Authorizing the Central Bank to contract with a consulting company to establish the new bank, and to provide support in the various founding operations of the bank, its formations and departments.

7. The committee formed under the chairmanship of the Governor of the Central Bank, the General Managers of the Central Bank of Iraq, the General Manager of Rafidain Bank, the Undersecretary of the Ministry of Finance, and the Advisors to the Prime Minister shall coordinate with the consulting company regarding the establishment of the aforementioned bank.

8. Proceed with the plan to transform the Industrial Bank into a private joint-stock company (with a strategic partner).

9. Maintaining the status quo for the Agricultural Bank, the Real Estate Bank, and the Housing Fund.

He added that "in the electricity sector, the Council voted to approve the amendment of Cabinet Resolution (393 of 2019), confirmed by Cabinet Resolution (24210 of 2024), which includes the implementation of projects in the electricity system on lands belonging to government agencies after obtaining initial approvals from the owner and other parties, and before completing the allocation procedures or transfer of ownership of the part related to the start of project implementation, in a way that ensures compliance with the Ministry of Finance's directive dated September 12, 2024, as follows:

1- Handing over the lands owned by the Ministry of Finance for the sites of secondary station projects to the Ministry of Electricity (initial handover), and the latter ministry shall undertake the necessary procedures for the project.

2- Forming a working group to expedite the allocation procedures set forth in Paragraph (1) of Cabinet Resolution No. (24210) and registering them with the competent real estate registration departments.

The statement continued, "In order to maximize the state's revenues, the following was approved:

1. Authorizing the Minister of Construction, Housing, Municipalities and Public Works to advertise for renting spaces designated for installing billboards on public road right-of-ways located outside the boundaries of the Baghdad Municipality and municipalities and on bridges.

2. The rental mentioned in paragraph (1) above shall be for one company, a company for each governorate, or multiple companies, as required by the circumstances of the advertisement.

3. Applications are exclusively for companies registered with the Ministry of Commerce/Companies Registration Department specializing in the field of advertising.

4. Rental allowances for advertising spaces shall be estimated by the committees that must be formed in the Ministry of Construction, Housing, Municipalities and Public Works/Roads and Bridges Department, pursuant to the Sale and Lease of State Property Law No. (21) of 2013 (as amended).

He explained that "in order to meet the needs of displaced and returning families and to ease their burden, the Council of Ministers agreed to the Ministry of Migration and Displacement continue to work in accordance with paragraph (1) of Cabinet Resolution (24007 of 2024), which includes the inclusion of these categories in the programs of subsidy salaries, social protection, full-time assistants, and soft loans."

He pointed out that "in the field of energy, the Council of Ministers approved the Iraqi Drilling Company's contract with the companies (EBS and Kosel), the subcontractor of the Iraqi Drilling Company, according to new contractual terms as an exception to the contracting methods stipulated in the instructions for implementing government contracts (2 of 2014) to implement the contract for the project to drill (18) wells."

As part of the government’s measures to complete stalled and suspended projects, the Council of Ministers approved the following:

1. Deleting the non-referred components that did not include the estimated cost amounts stated in the Ministry of Planning’s letter dated December 30, 2024.

2. Deleting the completed components that are not included in Cabinet Resolution No. (301 of 2021) stated in the Ministry of Planning letter referred to in the above paragraph, based on the cumulative expenditure.

3. Deleting the components referred to investment or that have been delivered to the beneficiary and that are not included in Resolution (301 of 2021), based on the cumulative expense.

4. Establish (4) complementary business components shown in the attached table, linking the Ministry of Planning’s letter dated December 30, 2024.

5. Reducing the total cost of the project (establishing 20 model youth and women’s forums in the districts and sub-districts of Baghdad Governorate and the governorates) in the investment budget tables of the Ministry of Youth and Sports for the year 2024, and changing the name of the project to (establishing model youth and women’s forums in the districts and sub-districts of Baghdad Governorate and the governorates, number 14) instead of establishing model youth and women’s forums in the districts and sub-districts of Baghdad Governorate and the governorates, number 20).

The Council of Ministers approved the exemption of the projects (Rehabilitation of the main Dora sewage pumping station) and (Rehabilitation of (22) pumping stations on the Rusafa side) from Cabinet Resolution (24217 of 2024) and their continued financing from the World Bank loan, while ensuring the World Bank’s commitment to financing and emphasizing the Baghdad Municipality to complete the two projects urgently, according to a statement from the media office.

The following was also approved:

1. Financing the Ministry of Finance with an amount equivalent to (390) thousand US dollars, the Republic of Iraq’s contribution to the Arab Labor Organization in the amount of the financial appropriation, based on the provisions of the Federal General Budget Law (13 of 2023).

2. Appointing employees in administrative positions in line with the amount of the Republic of Iraq’s contribution, which amounts to (10%) of the countries’ contributions within the budget approved by the Arab Labor Organization.

The statement highlighted that "the Council voted on the draft law on the Republic of Iraq's accession to the Arab States in Asia Cooperative Agreement for Research, Development and Training in the Field of Nuclear Science and Technology for the year 2017 (ARASIA), which entered into force on July 28, 2020, and referred it to the Council of Representatives, based on the provisions of the Constitution." 114 views 01/13/2025 - https://economy-news.net/content.php?id=51911

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

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

Good Evening Dinar Recaps,

FILIPINO BANKS PLAN TO LAUNCH MULTI ISSUER STABLECOIN PHPX ON HEDERA DLT

Later this year several Filipino banks are planning to launch a multi bank peso stablecoin, PHPX, which will initially operate on the Hedera DLT network. The banks include the UnionBank of the Philippines, Rizal Commercial Banking, Cantilan Bank and the Rural Bank of Guinobatan. 

Singapore startup Just Finance is the initiator, but the banks will have a significant role in the governance. Given a key goal is cross border payments, the plans include more than just a stablecoin. There’s a need to exchange stablecoins in different currencies.

UnionBank, or more specifically its fintech spin off UBX, has been involved in blockchain for years including managing a quasi stablecoin network, albeit in a closed loop system.

In 2018 it set up a token-based automated clearing house (ACH) to enable payments for rural and community banks that were not members of the national retail payment system (NRPS) to funnel them via UnionBank.

That system uses a permissioned version of Ethereum and the more-or-less invisible backend token is PHX, not to be confused with PHPX the planned new stablecoin.

While the ACH has served its purpose, it’s time to take the next step. “We need to create something that is publicly exchangeable, so that we can support use cases outside of our own closed loop ecosystem,” said John Januszczak, UBX CEO, during an interview with Ledger Insights. He also wants to support stablecoins beyond that created by UBX.

Hence, when David Inderias and Mikko Perez from Just Finance approached UBX with the concept for PHPX, Mr Januszczak was open to it.

While it’s not the only use case, cross border payments are top of the list, particularly for remittances.

Filipino stablecoin remittances

Inbound remittances from people working abroad are a critical source of funds in the Philippines. According to the World Bank, the country is the fourth largest recipient of remittances which totaled $40 billion in 2024, representing around 10% of the country’s GDP.

Some of the stablecoin goals are basic. “The speed of payments has not kept up with the speed of commerce,” said Mr Januszczak. “As the operator of a payments network, it’s not about the technology, it’s about that fundamental problem.”

He noted that the people doing the work abroad have limited control over how their hard earned cash is spent. They often send the money to someone in the Philippines who looks after the bills.

“We want Filipinos that are earning money in the US (or elsewhere) to be able to pay their kids’ school tuition directly from the United States (and) for that payment to be affected in real time,” said Mr Januszczak. 

“We want to open up the opportunity for people to contribute to insurance policies and wealth products from overseas. So not just vanilla, pedestrian remittances, but remittances that give back that control.”

For the banks involved, the stablecoins will often be abstracted in the backend, so the customer simply chooses to send $500 rather than being aware of the stablecoin details. The $500 is exchanged for PHPX or another stablecoin in the background. From there it can be deposited into a bank account, a G Cash wallet or for cash pickup at an over the counter location. Hence, banks will provide seamless on and off-ramping.

Ultimately, consumers could have direct access to PHPX, but that would be subject to regulator approval.

Stablecoins and FX

To enable cross border payments, part of the plan is to create a multi currency stablecoin exchange. Given cross border payments will involve swaps of foreign currency stablecoins in USD, SGD or JPY with PHPX, that requires liquidity providers who can earn a yield. It also will have to be regulatory compliant. 

At launch it’s likely the banks or those implementing use cases will take on that role. But in a decentralized environment, that could open up over time, involving qualified investors as liquidity providers in the Philippines.

A safe PHPX stablecoin design

Turning to the stablecoin, Mr Inderias from Just Finance emphasized quality and compliance.

With a multi issuer token, the big question is what happens if a bank goes bust? Most of the stablecoin reserves will be held in segregated bank trust accounts which will hold government bonds, with a small cash balance for short term settlement. The trust accounts are ring-fenced rather than part of the general liability of the bank. Hence, if a bank fails, the stablecoin is bankrupt remote (provided the money hasn’t disappeared because of fraud). Given that Just Finance doesn’t hold the cash, the stablecoin should also be safe if it ran into trouble.

As a bank stablecoin, another challenge is compliance with Basel Committee crypto-asset rules. If stablecoins are classed with other cryptocurrencies (Group 2) that could get expensive for banks to hold them. In the latest Basel iteration, to qualify as a Group 1b (low risk) stablecoin the DLT network has to be permissioned, which is the reason for choosing the Hedera DLT as the initial network.

Another requirement to satisfy the Bangko Sentral ng Pilipinas (BSP) is for any coins the system interacts with to comply with the EU’s MiCAR regulations or regional equivalents.

Meanwhile, a key advantage of stablecoins over bank payments, is they don’t require interbank settlement. In the Philippines, the main National Retail Payment System (NRPS) limits payments to around $1,000 to manage risks. That’s because while the banks credit recipients almost immediately, the interbank settlement is not real time.

By contrast, the existing closed looped clearing house operated by UBX has been using blockchain for years, minting and burning tokens which are backed by reserves. Hence, it has already seen the benefits of stablecoin-style payments, where clearing and settlement don’t involve separate steps.

Getting to launch

The central bank is going to have the last say about when the solution goes live, with the earliest launch date between May and July this year.

Mr Inderias emphasized that the goal of PHPX isn’t purely for remittances. He also envisages larger cross border payments for trade and the potential domestic use of the stablecoin at point of sale (POS). But before that can even be considered, the first step is getting bank applications live.

“If and when we go to retail, we’ll do that in a measured way under the purview of the regulator,” he said.

@ Newshounds News™

Source:  Ledger Insights

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US BANKS CAN HOLD BITCOIN AND CRYPTO UNDER INCOMING TRUMP EXECUTIVE ORDER: REPORT

President-elect Trump will issue an executive order effectively allowing banks and financial institutions to hold Bitcoin (BTC) and crypto assets on behalf of their clients, according to a new report.

The incoming order will reverse a regulatory guideline that has shaped how financial institutions account for and custody digital assets, reports the Washington Post

“…Trump is expected to issue executive orders on the first day of his presidency that may address issues including “de-banking” and the repeal of a controversial crypto accounting policy requiring banks holding digital assets to count them as liabilities on the bank’s own balance sheet, according to a person involved with the conversations.”

The expected executive order is designed to reverse SAB 121, an SEC guideline that requires certain financial entities to list even the crypto assets they hold on behalf of customers as liabilities.

Crypto proponents say the guideline blocks financial institutions’ ability to enter the digital asset arena.

A bill aiming to eliminate SAB 121 recently passed both the House and the Senate, but President Biden vetoed the bill.

@ Newshounds News™

Source:  DailyHodl

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COINBASE SCORES ANOTHER WIN AGAINST 'ARBITRARY AND CAPRICIOUS' SEC ORDER

A panel of Third Circuit federal judges ruled the SEC must explain its lack of crypto rulemaking—but stopped short of ordering the agency to create such regulations.

A panel of federal appeals court judges in Philadelphia dealt another blow to the SEC’s crypto regime on Monday, emerging as the latest prominent court to question how the federal agency has navigated its regulation of digital assets.

The U.S. Court of Appeals for the Third Circuit ruled today in favor of Coinbase, which sued the SEC last year over the agency’s refusal to explicitly lay out its crypto policy. Instead of putting forth crypto-specific rules, the SEC has instead sporadically sued crypto firms over the last six-odd years in a pattern that has been disparagingly dubbed “regulation by enforcement.”

Today a three-judge panel, comprised of two Democrats and one Republican, ruled that the SEC’s dismissive response to Coinbase’s request for crypto-specific rulemaking was unacceptable.

“Because we believe the SEC’s order was conclusory and insufficiently reasoned, and thus arbitrary and capricious, we grant Coinbase’s petition in part and remand to the SEC for a more complete explanation,” today’s order reads.

The judges added that they declined, however, to force the SEC to create crypto-specific rules, as Coinbase had requested.

According to Judge Thomas Ambro, a Clinton-era Democrat who wrote Monday’s opinion, previous case law established that an agency like the SEC could only be forced to create rules against its will if an extreme delay in creating those rules “endangered human lives”—a requirement clearly not met by crypto-related regulations.

So the SEC doesn’t have to issue new crypto rules now, but it must explain to Coinbase in much greater detail why it has, thus far, refused to do so.

“Rather than force the agency to make a rule, we order it to explain its decision not to,” Judge Stephanos Bibas, a Republican appointed to the court by Donald Trump, wrote Monday in a concurring opinion. “Indeed, a rule may not prove necessary to solve the problems here; the agency could just state its position on crypto assets unequivocally.”

@ Newshounds News™

Source:  Decrypt

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CARDANO & RIPPLE TO PARTNER? ADA EYES RLUSD INTEGRATION

A cooperation that would see two of the industry’s most prominent networks team up, both Cardano (ADA) and Ripple are reportedly discussing a partnership that would include the latter’s recently launched Ripple USD (RLUSD) stablecoin. Indeed, the discussions were confirmed in a recent post to X (Foermly Twitter) by Cardano founder Charles Hoskinson.

The asset has had a rather slow start to the year despite immense promise. However, that is widely expected to turn around. Moreover, with both ADA and XRP projected to make headway in the coming months, a partnership could ensure their prices skyrocket together.

Charles Hoskinson Confirms Talk to Bring Cardano and Ripple Together

2025 may be set to be a big year for Cardano and Ripple, as both companies look to build off of a momentous final two months to last year. Moreover, the two sides are reportedly engaged in talks, according to the former’s founder. The discussion centers around the promising Ripple stablecoin debut that would bring about an RLUSD integration.

Charles Hoskinson went as far as to confirm that discussion was taking place. However, he did not elaborate on what exactly was discussed between both sides. Yet, if it comes to fruition, it would be a game-changer for ADA, the native token on the Cardano network.

The cryptocurrency has certainly struggled since the start of the year. Over the last seven days, ADA has fallen more than 16%, according to CoinMarketCap. Moreover, the asset’s 13% drop in the last 30 days has it trading under the $1 mark. However, the token is not expected to remain this year, as it is projected to have a monumental year ahead.

According to cryptocurrency price prediction platform CoinCodex, Cardano will retake the $1 mark in January and then some. Indeed, analysts project the token to end January with a high price of $1.8, providing a potential ROI of more than 101%.

That isn’t all, as the asset is expected to build off of that success. Specifically, the platform projects ADA to reach the $2 mark in February, reaching heights of $2.50, with a 174% potential jump, by the end of the year’s second month.

With $3.9 yearly highs projected, Ripple and RLUSD stablecoin integration would help the network reach these marks. Moreover, they could help them exceed them, rewriting the potential it had entering the year.

@ Newshounds News™

Source:  Watcher Guru

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Monday Evening News With MarkZ 1-13-2025

Monday Evening News With MarkZ 1-13-2025

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: good Evening….hope Mark got some good news for us today

Member: If they want to confuse us they are doing a great job

Member:  TNT said it's definitely on by tomorrow morning.

Member: Mike Bara called it for Tuesday / Wednesday on his show this morning

MZ: I hope they are right. There is a lot of chatter expecting it this week.

MZ: “The house of Representatives votes to amend the passport law and extend the work of the election commission” If you read deeper in the article is states the second reading of the budget law was successful!!

MZ: We did indeed have the second reading today.

Member: Mark, After the 2nd reading doesn't it automatically go to final(3rd)

Member: According to Frank they are on the third reading now

​​Member: Second reading successful big checkoff on the list!

Member; I read They don’t need a 3rd reading because it was already in the budget and they just made a change, so they only need 2 reading to pass it.

Member: MM just put out a notification that his video tonight should be taken very seriously

Member: I heard Pocket Options is showing the VND and Indonesian Rupiah. (Saw a screenshot.)

MZ: We are seeing the popping up on different aps….IQD and IQD pairings with different crypto pairings….this is big.

Member: I wonder…is it possible for Iraq to rv with Sudani out of the country right now? He is on a state visit to the UK

MZ: Yes Sudani is heading to England today for some dialog. They are discussing going International.

MZ: “Building a bridge of comprehensive dialog: Revealing the details of the Presidents meeting with leaders of Baghdad” there were meetings with Barzani today along with the Kurdish President.

MZ: “Parliamentary Finance: Banking reforms enhances Iraq’s financial position globally”  pay attention to the word “globally” AKA “International”

Member: Anything going on in the Indian Nations?

MZ: Still hearing a lot of hope from the bond side who expect things to move between now and the next 8-10-days.

​​Member: Here we go….. I went to my bank today. I asked if they exchange currency. They replied yes. I asked if they exchange Iraqi Dinar they said yes we do.

Member: Maybe our last week with empty pockets?? We're been waiting soooo long!

Member: if the RV doesn't happen in January, back to the shoebox goes my currency

Member: Jan 15th there will be 7 planets in alignment this only happens every 396 billion years

Member: Never quit everyone….we are very close. The wait will be worth it in the end.

Member: Everyone have an amazing night.

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.

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

Youtube:     https://www.youtube.com/watch?v=M6bA-2lWB3w

More News, Rumors and Opinions Monday PM 1-13-2025

KTFA:

Clare:  The House of Representatives completes the second reading of the draft amendment to the budget law

1/13/2025

The Council of Representatives concluded, in its session today, Monday, the second reading "Report and Discussion" of the draft law of the first amendment to the Federal General Budget Law of the Republic of Iraq for the fiscal years (2023 - 2024 - 2025) No. (13) of 2023.   LINK

Clare:  Iraqi Customs: Electronic payment service will be temporarily suspended tomorrow

1/13/2025

The Iraqi General Authority of Customs announced on Sunday that the electronic payment service will be temporarily suspended tomorrow, Monday.

The authority said in a statement received by Shafaq News Agency, "The Central Bank of Iraq informed us that the electronic payment service will stop tomorrow, January 13, 2025, at 12 midnight for two hours, for the purpose of making updates to their systems."  LINK

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Clare:  Nechirvan Barzani and the change after the population census.. New issues for Baghdad

 2025-01-13 | 00:15

A prominent Kurdish commentator said that the region’s president, Nechirvan Barzani, brought with him to Baghdad “new” files, one of which emerged after the last population census and relates to the disputed territories between Baghdad and Erbil and the budget shares, and the other is financial issues that an extraordinary meeting of the Kurdistan Regional Government discussed on Saturday.  LINK

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

January 12, 2025

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

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

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

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

Central Bank of Iraq 
Media Office 
January 12, 2025

https://cbi.iq/news/view/2758

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

Frank26  [Discussing photo of an unknown lower note sent to Frank]  SENDER:  What's that [note] underneath it [photo of the known 250 and 500 dinar notes]?  FRANK:  I don't know what that is.  Where did you get this?  SENDER:  It's from a contractor in Iraq... FRANK:  It's not just because of the color I see there, it's the packaging that attracts my attention.  SENDER:  My buddy said he got the pictures from his interpreter friend who goes out on patrols with him daily.  The interpreter's brother works in a very small bank...He had to pay the brother three bottles of Old Spice cologne in order to get this picture to him.   [Post 1 of 2....stay tuned]]

Frank26   SENDER:  I guess they can't get it over there, pretty valuable.  The brother said they have pallets of the smaller bills there in the vault but they haven't released them yet to anyone.  I guess he could get in serious trouble if they found out he took this picture.  FRANK:  So I'm understanding this correctly, your friend who's a contractor, his interpreter has a friend at a bank and he took a picture and he smuggled them out and he gave them to your friend and your friend gave them to you?  SENDER:  Exactly.  FRANK:  It had three qualifications but the one that got me was the packaging.   [Post 2 of 2]

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Almost a Third of the National Debt Needs to be Paid Back in 2025

Heresy Financial:  1-13-2025

TIMECODES

 0:00 the National Debt

1:40 The impact this will have on the market

 5:52 Big Part of the Nation Debt is in T-Bills

7:22 How the Stock Market will be affected

https://www.youtube.com/watch?v=ThP0mRdE8uw

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

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

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

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

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

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

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

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

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

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

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

Gold Prices Stabilize In Baghdad

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

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

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

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

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

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

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

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

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

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

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

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

Iraqi Stock Exchange Closes Down 1.73%

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

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

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

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

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

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

Good Afternoon Dinar Recaps,

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

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

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

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

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

Unverified Claims and Historical Context

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

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

Technical Analysis and Market Sentiment

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

Broader Implications and Future Outlook

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

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

@ Newshounds News™

Source:  Coin Edition

~~~~~~~~~

XRP LEDGER UPGRADE: IMPORTANT CHANGES YOU MUST KNOW

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

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

Update to XRP Ledger v2.3.0

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

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

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

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

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

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

XRPL Server Update Progress

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

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

Implications of the Update to the XRP Network

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

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

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

XRP Outlook Post Update

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

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

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

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

@ Newshounds News™

Source:  BitTime

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LEDGER INSIGHTS - 13 JAN – TOKENIZATION, DIGITAL ASSETS NEWS

TOKENIZATION AND DIGITAL ASSETS: POLICY & LEGAL

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

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

OECD explores impediments to tokenization adoption.
Ledger Insights

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

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

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

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

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

TOKENIZATION & DIGITAL ASSETS: PROJECTS, PARTNERSHIPS

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

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

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

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

@ Newshounds News™

Source: Ledger Insights 

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Newshound's News Telegram Room Link

Q & A Classroom Link  

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Seeds of Wisdom Team™ Website

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Thank you Dinar Recaps

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

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

3 critical ways to protect yourself in 2025

Christy Bieber  Mon, January 13, 2025   Moneywise

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

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

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

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

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

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

Sign up for alerts

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

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

Some of these services are paid services, offered by companies that promise to monitor the status of your property and alert you to problems. However, before signing up for a paid plan, you should check with your local officials.

There may be free options that provide similar alerts. For example, in Florida, most counties allow you to sign up for alerts via email if any changes are made. You can just go online at the FL Clerk's website to find your county and get set up.

You should do this ASAP because, as the Florida Court Clerks & Comptrollers explain, doing so can "stop criminals in their tracks," as you'll be alerted to issues immediately and can take swift action if any papers are filed in your name or on your property that you don't recognize.

You can also set up online search alerts for your property to make sure it never gets put on sale without your knowledge and ask neighbors to inform you if they see anything suspicious.

Read more: Jeff Bezos and Oprah Winfrey invest in this asset to keep their wealth safe — you may want to do the same in 2025

How America’s Debt Addiction is Triggering a Collapse

How America’s Debt Addiction is Triggering a Collapse

ITM Trading:  1-12-2025

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

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

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

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

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

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

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

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

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

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

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

https://youtu.be/Y_G74U4fVu4

News, Rumors and Opinions Monday 1-13-2025

DJ:  DID YOU KNOW?

Jan 12th Post 2025 (Cultural Differences)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

IQD: How Will Trump Affect the Iraqi Dinar?

Edu Matrix:  1-13-2025

IQD: How Will Trump Affect the Iraqi Dinar? –

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

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

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

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

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

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

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: Good Monday morning MarkZ, mods and RV’ers

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

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

Member: Could this be our week?

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

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

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

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

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

Member: MM is pretty excited

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

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

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

Member: Disappointed about the lack of quorum.

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

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

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

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

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

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

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

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

Member: Iraq loves smoke and mirrors.

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

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

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

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

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

Member: My Wells Fargo finally confirmed the RV.

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

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

Member: What is your gut feeling Mark?

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

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

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

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

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

Member: Hope everyone has a great day today!

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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